Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Jan. 31, 2019 | Feb. 28, 2019 | Jul. 31, 2018 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | YEXT, INC. | ||
Entity Central Index Key | 0001614178 | ||
Current Fiscal Year End Date | --01-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Jan. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 102,247,841 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Public Float | $ 1.8 | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Emerging Growth Company | false | ||
Entity Smaller Reporting Company | false | ||
Entity Shell Company | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 31, 2019 | Jan. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 91,755 | $ 34,367 |
Marketable securities | 51,021 | 83,974 |
Accounts receivable, net of allowances of $256 and $231, respectively | 55,341 | 44,656 |
Prepaid expenses and other current assets | 14,135 | 7,703 |
Costs to obtain revenue contracts, current | 17,817 | 9,342 |
Total current assets | 230,069 | 180,042 |
Property and equipment, net | 11,077 | 11,438 |
Goodwill | 4,660 | 4,924 |
Intangible assets, net | 1,960 | 2,761 |
Costs to obtain revenue contracts, non-current | 18,366 | 3,405 |
Other long term assets | 996 | 919 |
Total assets | 267,128 | 203,489 |
Current liabilities: | ||
Accounts payable, accrued expenses and other current liabilities | 42,651 | 27,416 |
Unearned revenue, current | 135,544 | 89,474 |
Deferred rent, current | 1,585 | 1,288 |
Total current liabilities | 179,780 | 118,178 |
Deferred rent, non-current | 1,607 | 3,213 |
Other long term liabilities | 1,192 | 645 |
Total liabilities | 182,579 | 122,036 |
Commitments and contingencies (Note 13) | ||
Stockholders’ equity: | ||
Preferred stock, $0.001 par value per share; 50,000,000 shares authorized at January 31, 2019 and 2018, respectively; zero shares issued and outstanding at January 31, 2019 and 2018 | 0 | 0 |
Common stock, $0.001 par value per share; 500,000,000 shares authorized at January 31, 2019 and 2018, respectively; 108,678,234 and 100,482,264 shares issued at January 31, 2019 and 2018, respectively; 102,172,900 and 93,976,930 shares outstanding at January 31, 2019 and 2018, respectively | 109 | 100 |
Additional paid-in capital | 398,882 | 328,344 |
Accumulated other comprehensive loss | (1,428) | (1,636) |
Accumulated deficit | (301,109) | (233,450) |
Treasury stock, at cost | (11,905) | (11,905) |
Total stockholders’ equity | 84,549 | 81,453 |
Total liabilities and stockholders’ equity | $ 267,128 | $ 203,489 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jan. 31, 2019 | Jan. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 256 | $ 231 |
Preferred stock par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock shares authorized (in shares) | 50,000,000 | 50,000,000 |
Preferred stock shares issued (in shares) | 0 | 0 |
Preferred stock shares outstanding (in shares) | 0 | 0 |
Common stock par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock shares authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock shares issued (in shares) | 108,678,234 | 100,482,264 |
Common stock shares outstanding (in shares) | 102,172,900 | 93,976,930 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Income Statement [Abstract] | |||
Revenue | $ 228,283 | $ 170,201 | $ 124,261 |
Cost of revenue | 57,413 | 44,095 | 36,950 |
Gross profit | 170,870 | 126,106 | 87,311 |
Operating expenses: | |||
Sales and marketing | 158,845 | 126,980 | 81,529 |
Research and development | 36,098 | 25,687 | 19,316 |
General and administrative | 51,572 | 40,079 | 29,166 |
Total operating expenses | 246,515 | 192,746 | 130,011 |
Loss from operations | (75,645) | (66,640) | (42,700) |
Investment income | 1,485 | 1,135 | 34 |
Interest income (expense) | 72 | (359) | (150) |
Other expense, net | (527) | (539) | (266) |
Loss from operations before income taxes | (74,615) | (66,403) | (43,082) |
(Provision for) benefit from income taxes | (222) | (162) | (68) |
Net loss | $ (74,837) | $ (66,565) | $ (43,150) |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (0.76) | $ (0.85) | $ (1.39) |
Weighted-average number of shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares) | 98,387,366 | 78,632,448 | 31,069,695 |
Other comprehensive income (loss): | |||
Foreign currency translation adjustment | $ (75) | $ 492 | $ (541) |
Unrealized gain (loss) on marketable securities | 280 | (320) | 0 |
Total comprehensive loss | $ (74,632) | $ (66,393) | $ (43,691) |
Consolidated Statements of Conv
Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Loss | Accumulated Deficit | Treasury Stock | Convertible preferred stock |
Temporary equity shares outstanding (in shares) at Jan. 31, 2016 | 43,594,000 | ||||||
Temporary equity, beginning of period at Jan. 31, 2016 | $ 120,615 | ||||||
Temporary equity shares outstanding (in shares) at Jan. 31, 2017 | 43,594,000 | ||||||
Temporary equity, end of period at Jan. 31, 2017 | $ 120,615 | ||||||
Beginning of period (in shares) at Jan. 31, 2016 | 30,777,000 | ||||||
Beginning of period at Jan. 31, 2016 | $ (95,236) | $ 37 | $ 41,634 | $ (1,267) | $ (123,735) | $ (11,905) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Exercise of stock options (in shares) | 618,000 | ||||||
Exercise of stock options | 1,321 | $ 1 | 1,320 | ||||
Stock-based compensation | 9,851 | 9,851 | |||||
Other comprehensive income (loss) | (541) | (541) | |||||
Net loss | (43,150) | (43,150) | |||||
End of period (in shares) at Jan. 31, 2017 | 31,395,000 | ||||||
End of period at Jan. 31, 2017 | (127,755) | $ 38 | 52,805 | (1,808) | (166,885) | (11,905) | |
Increase (Decrease) in Temporary Equity [Roll Forward] | |||||||
Conversion of preferred stock (in shares) | (43,594,000) | ||||||
Conversion of preferred stock | $ (120,615) | ||||||
Temporary equity shares outstanding (in shares) at Jan. 31, 2018 | 0 | ||||||
Temporary equity, end of period at Jan. 31, 2018 | $ 0 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Exercise of stock options (in shares) | 6,517,000 | ||||||
Exercise of stock options | 11,610 | $ 6 | 11,604 | ||||
Stock-based compensation | 22,768 | 22,768 | |||||
Other comprehensive income (loss) | 172 | 172 | |||||
Net loss | (66,565) | (66,565) | |||||
Initial public offering, net of issuance costs of $4,433 (in shares) | 12,075,000 | ||||||
Initial public offering, net of issuance costs of $4,433 | 119,094 | $ 12 | 119,082 | ||||
Conversion of preferred stock (in shares) | 43,594,000 | ||||||
Conversion of preferred stock | 120,615 | $ 44 | 120,571 | ||||
Conversion of preferred stock warrants to common stock warrants | 1,435 | 1,435 | |||||
Exercise of common stock warrants (in shares) | 179,000 | ||||||
Exercise of common stock warrants | 79 | 79 | |||||
Vested restricted stock units converted to common shares (in shares) | 204,000 | ||||||
Vested restricted stock units converted to common shares | 0 | ||||||
Issuance of restricted stock (in shares) | 13,000 | ||||||
Issuance of restricted stock | 0 | ||||||
End of period (in shares) at Jan. 31, 2018 | 93,977,000 | ||||||
End of period at Jan. 31, 2018 | $ 81,453 | $ 100 | 328,344 | (1,636) | (233,450) | (11,905) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Issuance costs | 4,433 | ||||||
Temporary equity shares outstanding (in shares) at Jan. 31, 2019 | 0 | ||||||
Temporary equity, end of period at Jan. 31, 2019 | $ 0 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Exercise of stock options (in shares) | 5,900,102 | 5,901,000 | |||||
Exercise of stock options | $ 18,862 | $ 5 | 18,857 | ||||
Stock-based compensation | 44,907 | 44,907 | |||||
Other comprehensive income (loss) | 205 | 205 | |||||
Net loss | (74,837) | (74,837) | |||||
Vested restricted stock units converted to common shares (in shares) | 1,585,000 | ||||||
Vested restricted stock units converted to common shares | 0 | $ 3 | (3) | ||||
Issuance of restricted stock (in shares) | 16,000 | ||||||
Issuance of restricted stock | 0 | ||||||
Issuance of common stock under employee stock purchase plan (in shares) | 694,000 | ||||||
Issuance of common stock under employee stock purchase plan | 6,778 | $ 1 | 6,777 | ||||
End of period (in shares) at Jan. 31, 2019 | 102,173,000 | ||||||
End of period at Jan. 31, 2019 | $ 84,549 | $ 109 | $ 398,882 | $ (1,428) | $ (301,109) | $ (11,905) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019USD ($) | Jan. 31, 2018USD ($) | Jan. 31, 2017USD ($) | |
Operating activities: | |||
Net loss | $ (74,837) | $ (66,565) | $ (43,150) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
Depreciation and amortization | 6,813 | 5,123 | 4,082 |
Provision for bad debts | 492 | 478 | 653 |
Stock-based compensation expense | 44,233 | 22,360 | 9,851 |
Change in fair value of convertible preferred stock warrant liability | 0 | 491 | 253 |
Deferred income taxes | (43) | (129) | 31 |
Amortization of deferred financing costs | 130 | 140 | 104 |
Amortization of (discount) premium on marketable securities | (170) | 156 | 0 |
Gain on sale of marketable securities | 0 | (1) | 0 |
Changes in operating assets and liabilities: | |||
Accounts receivable | (11,601) | (17,036) | (4,117) |
Prepaid expenses and other current assets | (6,745) | (4,043) | (1,642) |
Costs to obtain revenue contracts | (16,817) | (4,420) | (5,573) |
Other long term assets | 2 | (358) | (430) |
Accounts payable, accrued expenses and other current liabilities | 17,328 | 350 | 6,037 |
Unearned revenue | 47,004 | 31,753 | 20,942 |
Deferred rent | (1,291) | (807) | (590) |
Other long term liabilities | 742 | 99 | 17 |
Net cash provided by (used in) operating activities | 5,240 | (32,409) | (13,532) |
Investing activities: | |||
Purchases of marketable securities | (52,916) | (110,644) | 0 |
Maturities of marketable securities | 86,320 | 20,154 | 0 |
Sales of marketable securities | 0 | 6,041 | 0 |
Capital expenditures | (5,270) | (3,674) | (3,505) |
Purchases of intangible assets | 0 | 0 | (298) |
Net cash provided by (used in) investing activities | 28,134 | (88,123) | (3,803) |
Financing activities: | |||
Proceeds from initial public offering, net of underwriting discounts and commissions | 0 | 123,527 | 0 |
Payments of deferred offering costs | 0 | (4,263) | (170) |
Proceeds from exercise of stock options | 18,880 | 11,610 | 1,321 |
Proceeds from exercise of warrants | 0 | 79 | 0 |
Proceeds from borrowings on Revolving Line | 0 | 0 | (5,000) |
Repayments on Revolving Line | 0 | (5,000) | 0 |
Payments of deferred financing costs | (159) | (99) | (183) |
Proceeds, net from employee stock purchase plan withholdings | 5,663 | 3,750 | 0 |
Net cash provided by financing activities | 24,384 | 129,604 | 5,968 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (370) | 375 | (30) |
Net increase (decrease) in cash, cash equivalents and restricted cash | 57,388 | 9,447 | (11,397) |
Cash, cash equivalents and restricted cash at beginning of period | 34,367 | 24,920 | 36,317 |
Cash, cash equivalents and restricted cash at end of period | 91,755 | 34,367 | 24,920 |
Supplemental disclosures of non-cash investing and financing information: | |||
Non-cash capital expenditures, including capitalized stock-based compensation, and items in accounts payable, accrued expenses and other current liabilities | 818 | 617 | 112 |
Deferred offering costs in accounts payable, accrued expenses and other current liabilities | 0 | 0 | 2,349 |
Conversion of convertible preferred stock warrants to common stock warrants | 0 | 1,435 | 0 |
Common stock issued for the acquisition of Inner Balloons | 0 | 120,615 | 0 |
Cash paid on interest | 7 | 74 | 3 |
Cash paid on income taxes | 19 | 994 | 19 |
Supplemental Cash Flow Information [Abstract] | |||
Cash and cash equivalents | 91,755 | 34,367 | 24,420 |
Restricted cash | 0 | 0 | 500 |
Cash, cash equivalents and restricted cash at end of period | $ 91,755 | $ 34,367 | $ 24,920 |
Organization and Description of
Organization and Description of Business | 12 Months Ended |
Jan. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Description of Business | Organization and Description of Business Yext, Inc. (the "Company") provides a cloud-based platform, the Yext Knowledge Engine, that lets businesses control their digital knowledge in the cloud and sync it to the Company's Knowledge Network of more than 150 service and application providers, including Amazon Alexa, Apple Maps, Bing, Cortana, Facebook, Google, Google Assistant, Google Maps, Siri and Yelp. The Yext Knowledge Engine is used by end consumers around the globe to discover new businesses, read reviews, and find accurate answers to their queries. The Yext Knowledge Engine powers all of the Company's key features, including Listings, Pages and Reviews, along with its other features. Fiscal Year The Company's fiscal year ends on January 31 st . References to fiscal 2019 , for example, are to the fiscal year ended January 31, 2019 . |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jan. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation and Consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and applicable rules and regulations of the Securities and Exchange Commission ("SEC") regarding financial reporting. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current period presentation, and adjusted in conjunction with the adoption of certain new accounting standards. See "Revenue Recognition," "Costs Capitalized to Obtain Revenue Contracts," "Adoption of New Accounting Standard - ASU 2014-09" and "Adoption of New Accounting Standard - ASU 2016-18" within this Note for further discussion. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenue and expense during the reporting period. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that it believes to be reasonable under the circumstances. Actual results could differ from those estimates and such differences could be material to the financial position and results of operations. Segment Information The Company operates as one operating segment in providing its cloud-based Knowledge Engine platform. An operating segment is defined as a component of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker ("CODM"). The Company defines its CODM as its executive officers, and their role is to make decisions about allocating resources and assessing performance. The Company's business operates in one operating segment as all of the Company's offerings operate on a single platform and are deployed in an identical way, with its CODM evaluating the Company's financial information, resources and performance of these resources on a consolidated basis. Since the Company operates in one operating segment, all required financial segment information can be found in the consolidated financial statements. Revenue Recognition The Company derives its revenue primarily from its subscription and associated support to its cloud‑based Knowledge Engine platform. The Company's subscriptions do not provide customers with the right to take possession of the software supporting the applications and, as a result, are accounted for as service contracts. The Company adopted on a modified retrospective basis Accounting Standards Update ("ASU") 2014-09 "Revenue from Contracts with Customers (Topic 606)" ("ASU 2014-09") in its fourth quarter of the fiscal year ended January 31, 2019 , the effects of which were recognized effective February 1, 2018. The Company recognizes revenue upon transfer of control of services to its customers, including third-party resellers, in an amount that reflects the consideration it expects to receive in exchange for those services. The recognition of revenue is determined through application of the following five-step model: • Identification of the contract(s) with customers; • Identification of the performance obligation(s) in the contract; • Determination of the transaction price; • Allocation of the transaction price to the performance obligation(s) in the contract; and • Recognition of revenue when or as the performance obligation(s) are satisfied The Company identifies the performance obligations in a contract with a customer and determines whether they are distinct or distinct within the context of the contract. When there is more than one distinct performance obligation in a contract, the Company allocates the transaction price to the performance obligations on a relative standalone selling price ("SSP") basis. The Company estimates the amount of consideration expected to be received in exchange for transferring services if the consideration promised in a contract includes a variable amount. Revenue is generally recognized ratably over the contract term beginning on the commencement date of each contract, which is the date the Company’s platform is made available to customers. Contracts are typically one year in length, but may be up to three years or longer in length. At the beginning of each subscription term the Company invoices its customers, typically in annual installments but also monthly, quarterly, and semi-annually. Amounts that have been invoiced for non-cancelable contracts are recorded in accounts receivable and in unearned revenue or revenue, depending on when the transfer of control to customers has occurred. The Company reports revenue net of sales tax and other taxes collected from customers to be remitted to government authorities. Prior to the adoption of this standard, during the fiscal years ended January 31, 2018 and 2017, respectively, the Company recognized revenue when four basic criteria were met: (1) persuasive evidence exists of an arrangement with a customer reflecting the terms and conditions under which the services will be provided; (2) services have been provided or delivery has occurred; (3) the fee is fixed or determinable; and (4) collection is reasonably assured. Collectibility was assessed based on a number of factors, including the creditworthiness of a customer and transaction history. Costs Capitalized to Obtain Revenue Contracts In conjunction with the Company's modified retrospective adoption of ASU 2014-09, effective for the fiscal year ended January 31, 2019, the Company capitalizes incremental costs of obtaining a revenue contract. Incremental costs capitalized primarily include sales commissions for new and renewal revenue contracts, certain related incentives, and associated payroll tax and fringe benefit costs. Capitalized amounts are recoverable through future revenue streams under all customer contracts. Costs capitalized to obtain new revenue contracts are amortized on a straight-line basis over three years, which reflects the average benefit period, and may be longer than the initial contract period. The Company determined the average benefit period having considered both qualitative and quantitative factors, most notably the estimated life of capitalized software development costs resulting from additional functionality to its cloud‑based Knowledge Engine platform. The Company amortizes costs capitalized for contract renewals over the renewal term, reflecting the average benefit period for such renewals, which is typically one year. Amortization of costs capitalized to obtain revenue contracts is included in sales and marketing expense in the accompanying consolidated statements of operations and comprehensive loss. The Company periodically evaluates whether there have been any changes in its business, market conditions, or other events which would indicate that its amortization period should be changed, or if there are potential indicators of impairment. During the fiscal year ended January 31, 2019, the Company capitalized $31.6 million of costs to obtain revenue contracts and amortized $15.0 million to sales and marketing expense. Costs capitalized to obtain revenue contracts on the Company's consolidated balance sheet totaled $36.2 million at January 31, 2019. Prior to the adoption of this standard, during the fiscal years ended January 31, 2018 and 2017, respectively, the Company only capitalized costs that were both direct and incremental to obtaining a revenue contract, and amortized such costs over the contract term. Cost of Revenue The Company's cost of revenue primarily relates to costs incurred in association with its cloud-based Knowledge Engine platform. Costs associated with the Company’s arrangements with its Knowledge Network application providers are classified as cost of revenue. The nature of these arrangements may be unpaid, fixed, or variable. Cost of revenue also includes expenses related to hosting the Company’s platform and associated support, which is comprised of salaries, data center capacity costs, stock-based compensation expense, benefits, and other allocated overhead costs. $3.5 million , $1.9 million and $1.1 million of depreciation and amortization expense is included in cost of revenue for the fiscal years ended January 31, 2019 , 2018 and 2017 , respectively. Stock‑Based Compensation Stock-based compensation for all employee stock‑based awards, including restricted stock units, restricted stock and options to purchase common stock, is measured at fair value on the date of grant and recognized over the service period. Prior to the Company's IPO, the fair value of the Company’s common stock was determined by the Company’s Board of Directors. The fair value of restricted stock units and restricted stock are estimated on the date of grant based on the fair value of the Company’s common stock. The fair value of employee stock options is estimated on the date of grant using a Black‑Scholes model. Stock-based compensation expense is recognized over the requisite service periods of awards, which is typically four years for options and one to four years for restricted stock and restricted stock units. The estimated forfeiture rate applied is based on historical forfeiture rates. The estimated number of stock-based awards that will ultimately vest requires judgment, and to the extent actual results, or updated estimates, differ from the Company’s current estimates, such amounts will be recorded as a cumulative adjustment in the period actual results are realized or estimates are revised. Advertising and Other Promotional Costs Advertising and other promotional costs are expensed as incurred. Advertising expenses were $6.1 million , $7.3 million and $4.7 million for the fiscal years ended January 31, 2019 , 2018 and 2017 , respectively. Research and Development Research and development costs are expensed as incurred. Research and development expenses consist primarily of salaries and related costs, including stock-based compensation expense, and exclude capitalized software development costs. Research and development expenses were $36.1 million , $25.7 million and $19.3 million for the fiscal years ended January 31, 2019 , 2018 and 2017 , respectively. Capitalized Software Development Costs The Company capitalizes software development costs in accordance with Accounting Standards Codification ("ASC") 350, and recognizes them on a straight-line basis over an estimated useful life of two to three years. The Company capitalizes certain software development costs, including elements of stock-based compensation, incurred in connection with additional functionality to its platform, as well as its internal-use projects during the application development stage. Capitalized software development costs, net, included in property and equipment, net, were $2.6 million and $2.9 million as of January 31, 2019 and 2018 , respectively. Capitalized software development costs of $2.2 million , $1.2 million and $0.4 million were recognized in the consolidated statement of operations and comprehensive loss during the fiscal years ended January 31, 2019 , 2018 and 2017 , respectively. Software development costs incurred in the maintenance and minor upgrade and enhancement of software without additional functionality are expensed as incurred. The Company evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Income Taxes The Company accounts for income taxes in accordance with ASC Topic 740, “Income Taxes,” under which deferred income taxes are provided for temporary differences between the financial reporting and tax basis of the Company’s assets and liabilities. The Company classifies all deferred tax assets and liabilities as non-current on the consolidated balance sheet. The effect of a change in tax rates on deferred tax assets and liabilities is recognized within the (provision for) benefit from income taxes on the consolidated statement of operations and comprehensive loss in the period that includes the enactment date. The Company reduces deferred tax assets, if necessary, by a valuation allowance if it is more likely than not that the Company will not realize some or all of the deferred tax assets. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax‑planning strategies, and results of recent operations. See Note 12 "Income Taxes" to the Company's consolidated financial statements for additional information on the composition of these valuation allowances and for information on the impact of U.S. tax reform legislation. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The Company recognizes interest and penalties related to uncertain tax positions within the (provision for) benefit from income taxes on the consolidated statement of operations and comprehensive loss. On December 22, 2017, the Tax Cuts and Jobs Act (the "Tax Reform Act") was enacted. The Tax Reform Act significantly revised the U.S. corporate income tax laws, including, but not limited to, lowering the top bracket of the federal statutory corporate tax rate from 35% to a flat rate of 21%, and allowing net operating losses generated under the Tax Reform Act to be carried forward indefinitely . The Tax Reform Act also imposed a one-time transition tax on accumulated earnings of foreign subsidiaries, eliminated certain deductions, introduced new tax regimes, and changed how foreign earnings are subject to U.S. tax, among other provisions. The Company concluded its accounting under the Tax Reform Act during the fiscal year ended January 31, 2019. Convertible Preferred Stock Warrant Liability The Company had freestanding warrants to purchase its convertible preferred stock which were remeasured to fair value at the balance sheet date and for which changes were recognized in other expense within the consolidated statements of operations and comprehensive loss in such periods. In April 2017, upon the closing of the Company’s Initial Public Offering ("IPO"), all of the Company's outstanding warrants were exercised for 110,937 shares of common stock. See Note 10 "Equity" for further discussion. Net Loss Per Share Basic net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. Unvested restricted stock and restricted stock units are excluded from the denominator of basic net loss per share. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average number of common shares plus the common equivalent shares for the period, including any dilutive effect from such shares. See Note 14 "Net Loss Per Share Attributable to Common Stockholders" for further discussion. Foreign Currency The functional currency of the Company’s international subsidiaries is generally the local currency. The Company translates the financial statements of its international subsidiaries to U.S. dollars using month‑end exchange rates for assets and liabilities, and average exchange rates for revenue, costs and expenses. The Company records translation gains and losses in accumulated other comprehensive loss as a component of stockholders’ equity (deficit). Foreign currency transaction gains and losses are included within other income (expense), net in the consolidated statements of operations and comprehensive loss. Concentration of Credit Risk The Company's financial instruments that are exposed to a concentration of credit risk consist primarily of cash and cash equivalents, marketable securities and accounts receivable. Although the Company deposits its cash with multiple financial institutions, its deposits, at times, may exceed federally insured limits. Collateral is not required for accounts receivable. At January 31, 2019 , no customer accounted for 10% or more of the Company's accounts receivable. At January 31, 2018 , one customer accounted for more than 12% of accounts receivable. No customer accounted for approximately 10% or more of the Company's revenue for the fiscal years ended January 31, 2019 , 2018 and 2017 , respectively. Cash and Cash Equivalents Cash consists of cash on deposit with banks that is stated at cost, which approximates fair value. The Company considers all highly liquid investments purchased with original maturities of less than three months from the date of purchase to be cash equivalents. Marketable Securities The Company's investments in marketable securities have consisted of debt securities, including U.S. treasury securities, corporate bonds, and commercial paper. These investments are classified as available for sale and are carried at fair value, with the change in unrealized gains and losses, net of tax, reported as a separate component on the consolidated statements of comprehensive loss. Declines in fair value judged to be other-than-temporary on securities available for sale are included as a component of investment income. In order to determine whether a decline in value is other-than-temporary, the Company evaluates, among other factors, the length of time and extent to which the fair value has been less than the carrying value and its intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair value. The Company considers all of its investments in marketable securities, irrespective of the maturity date, as available for use in current operations, and therefore classifies these securities within current assets on the consolidated balance sheets. The cost of securities sold is based on the specific-identification method. Interest on securities classified as available for sale is also included as a component of investment income. Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are carried at the original invoiced amount less an allowance for doubtful accounts based on the probability of future collection. The Company estimates its allowance for doubtful accounts based on historical loss patterns and the number of days that billings are past due. Accounts receivable are written off when deemed uncollectible and collection of the receivable is no longer being actively pursued. The following table summarizes the allowance for doubtful accounts activity: (in thousands) Fair Value Allowance for doubtful accounts as of January 31, 2017 $ 189 Additions 478 Deductions - write offs (436 ) Allowance for doubtful accounts as of January 31, 2018 231 Additions 492 Deductions - write offs (467 ) Allowance for doubtful accounts as of January 31, 2019 $ 256 Deferred Financing Costs Financing costs incurred with securing a revolving line of credit are deferred and amortized to interest expense over the term of the agreement. Financing costs associated with revolving credit arrangements are deferred, regardless of whether a balance is outstanding. The Company includes deferred financing costs in prepaid and other assets or other long term assets on the consolidated balance sheet. Property and Equipment, Net Property and equipment are recorded at cost and depreciated or amortized on a straight‑line basis over their estimated useful lives. Furniture and fixtures have an estimated useful life of five years, while office and computer equipment and internal-use software have an estimated useful life of two to three years. Leasehold improvements and assets held under operating leases are depreciated over the shorter of the term of the lease or their useful life. Upon retirement or sale of assets, the cost and related accumulated depreciation or amortization are removed from the consolidated balance sheet and the resulting gain or loss is reflected in the consolidated statement of operations and comprehensive loss. Maintenance and repair costs are expensed as incurred. Goodwill and Intangible Assets Goodwill represents the excess of cost over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. The Company has no other intangible assets with indefinite useful lives. Goodwill is not amortized but is subject to periodic testing for impairment in accordance with ASC Topic 350, “Intangibles‑Goodwill and Other.” The Company’s goodwill is evaluated at the entity level as it is determined there is one reporting unit. The Company performs its annual impairment test on November 1 st of each year, or more frequently if events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company considers the following potential indicators of impairment: significant underperformance relative to historical or projected future operating results, significant changes in the Company’s use of acquired assets or the strategy of the Company’s overall business, significant negative industry or economic trends and a significant decline in the value of the Company’s enterprise value for a sustained period. The Company’s intangible assets with definite lives, which include customer relationships and domains, are amortized on a straight‑line basis over their estimated useful lives, which range from 3 to 15 years. Long‑lived assets, including intangible assets with finite lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable in accordance with ASC Topic 360, “Property, Plant, and Equipment.” The Company assesses the impairment of long‑lived intangible assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company has not recorded impairment charges on intangible assets for the periods presented in these consolidated financial statements. Legal and Other Contingencies From time to time, the Company may be a party to litigation and subject to claims incident to the ordinary course of business, including intellectual property claims, labor and employment claims, breach of contract claims and other asserted and unasserted claims. The Company investigates these claims as they arise and accrues estimates for resolution of legal and other contingencies when losses are probable and estimable. Recent Accounting Pronouncements Section 107 of the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act") provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. Thus, an emerging growth company can defer the adoption of certain accounting standards until those standards would otherwise apply to private companies. However, based on the market value of the Company's common stock held by non-affiliates as of July 31, 2018, and therefore effective January 31, 2019, the Company became a large accelerated filer and ceased to be an emerging growth company on January 31, 2019. The Company is required to adopt new or revised accounting standards as required by public companies, including those standards which the Company had previously deferred pursuant to the JOBS Act. Adoption of New Accounting Standard - ASU 2014-09 In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU 2014-09, which replaces the existing guidance on the recognition of revenue as well as costs to obtain revenue contracts. The Company adopted on a modified retrospective basis the new standard in its fourth quarter of the fiscal year ended January 31, 2019 , the effects of which were recognized effective February 1, 2018. The Company utilized the transitional practical expedient to apply the standard to all contracts not completed as of February 1, 2018. Results for the fiscal year ended January 31, 2019, inclusive of the interim periods ended April 30, July 31, and October 31, 2018, are presented in accordance with ASU 2014-09. See Note 15 “Selected Quarterly Financial Data (Unaudited)” for a reconciliation of the adjustments to previously reported quarterly amounts. Comparative results for the fiscal years ended January 31, 2018 and 2017, respectively, have not been restated. The following table presents the impact of ASU 2014-09 on the Company's consolidated balance sheet as of January 31, 2018 : As of January 31, 2018 (in thousands) As Reported Effect of ASU 2014-09 Inclusive of ASU 2014-09 Assets Accounts receivable, net $ 44,656 $ (1,183 ) $ 43,473 Costs capitalized to obtain revenue contracts, current 9,342 825 10,167 Costs capitalized to obtain revenue contracts, non-current 3,405 6,034 9,439 Liabilities Accounts payable, accrued expenses and other current liabilities 27,416 699 28,115 Unearned revenue, current 89,474 (2,204 ) 87,270 Stockholders' equity Accumulated other comprehensive loss (1,636 ) 3 (1,633 ) Accumulated deficit $ (233,450 ) $ 7,178 $ (226,272 ) The following table summarizes the adoption impact of the new revenue standard on line items within the consolidated balance sheet as of January 31, 2019 : As of January 31, 2019 (in thousands) Prior to Adoption of ASU 2014-09 Adjustments for As Reported Assets Accounts receivable, net $ 56,222 $ (881 ) $ 55,341 Costs capitalized to obtain revenue contracts, current 15,082 2,735 17,817 Costs capitalized to obtain revenue contracts, non-current 4,699 13,667 18,366 Liabilities Accounts payable, accrued expenses and other current liabilities 41,508 1,143 42,651 Unearned revenue, current 137,418 (1,874 ) 135,544 Stockholders' equity Accumulated other comprehensive loss (1,442 ) 14 (1,428 ) Accumulated deficit $ (317,347 ) $ 16,238 $ (301,109 ) The following table summarizes the adoption impact of the new revenue standard on line items within the consolidated statement of operations for the fiscal year ended January 31, 2019 : Fiscal year ended January 31, 2019 (in thousands) Prior to Adoption of ASU 2014-09 Adjustments for ASU 2014-09 As Reported Revenue $ 228,751 $ (468 ) $ 228,283 Cost of revenue 57,413 — 57,413 Gross profit 171,338 (468 ) 170,870 Operating expenses: Sales and marketing 168,372 (9,527 ) 158,845 Research and development 36,098 — 36,098 General and administrative 51,572 — 51,572 Total operating expenses 256,042 (9,527 ) 246,515 Loss from operations (84,704 ) 9,059 (75,645 ) Investment income 1,485 — 1,485 Interest income 72 — 72 Other expense, net (527 ) — (527 ) Loss from operations before income taxes (83,674 ) 9,059 (74,615 ) (Provision for) benefit from income taxes (222 ) — (222 ) Net loss $ (83,896 ) $ 9,059 $ (74,837 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.85 ) $ 0.09 $ (0.76 ) The Company's adoption of ASU 2014-09 did not result in any changes to classification among the operating, investing or financing activity line items within the consolidated statement of cash flows for the fiscal year ended January 31, 2019 . Adoption of New Accounting Standard - ASU 2016-18 In November 2016, the FASB issued No. 2016-18, "Statement of Cash Flows (Topic 230) - Restricted Cash". The Company early adopted the standard during the fiscal year ended January 31, 2019. Amounts generally described as restricted cash are now presented with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The statement of cash flows will no longer present transfers between cash and cash equivalents and restricted cash. As a result of this adoption, there were no changes to the operating, investing and financing activities for the fiscal year ended January 31, 2019 . The presentation of the statement of cash flows for the fiscal years ended January 31, 2018 and 2017 required certain reclassifications to conform to the current year presentation as follows (in thousands): Fiscal year ended January 31, 2018 Line Items - As Revised As Previously Reported Reclassification of Restricted Cash As Revised Net cash used in operating activities $ (31,909 ) $ (500 ) $ (32,409 ) Net cash used in investing activities (88,123 ) — (88,123 ) Net cash provided by financing activities 129,604 — 129,604 Effects of exchange rate changes on cash, cash equivalents and restricted cash 375 — 375 Net increase in cash, cash equivalents and restricted cash 9,947 (500 ) 9,447 Cash, cash equivalents and restricted cash at beginning of period 24,420 500 24,920 Cash, cash equivalents and restricted cash at end of period $ 34,367 $ — $ 34,367 Fiscal year ended January 31, 2017 Line Items - As Revised As Previously Reported Reclassification of Restricted Cash As Revised Net cash used in operating activities $ (7,743 ) $ (5,789 ) $ (13,532 ) Net cash used in investing activities (3,803 ) — (3,803 ) Net cash provided by financing activities 5,968 — 5,968 Effects of exchange rate changes on cash, cash equivalents and restricted cash (30 ) — (30 ) Net decrease in cash, cash equivalents and restricted cash (5,608 ) (5,789 ) (11,397 ) Cash, cash equivalents and restricted cash at beginning of period 30,028 6,289 36,317 Cash, cash equivalents and restricted cash at end of period $ 24,420 $ 500 $ 24,920 Adoption of New Accounting Standard - ASU 2016-09 The Company adopted ASU No. 2016-09, "Improvements to Employee Share-Based Payments Accounting" ("ASU 2016-09") effective February 1, 2018. In conjunction with the adoption of the standard, the Company records excess tax benefits and deficiencies that result when stock-based awards vest or are settled within the (provision for) benefit from income taxes in the consolidated statement of operations and comprehensive loss. The Company utilized a modified-retrospective approach for previously unrecognized excess tax benefits that existed as of January 31, 2018 , and the related deferred tax assets were fully offset by a valuation allowance. In addition, the Company elected to continue to estimate its forfeiture rate associated with stock-based awards. The adoption of this standard did not have an effect on the statement of cash flows. Adoption of New Accounting Standard - ASU 2018-05 In March 2018, the FASB issued ASU No. 2018-05, “Income Taxes (Topic 740)," to conform to SEC Staff Accounting Bulletin No. 118 ("SAB 118"). The standard was issued to allow registrants to record provisional amounts during a measurement period not to extend beyond one year from the enactment date in instances when a registrant does not have the necessary information available, prepared, or analyzed in reasonable detail to complete the accounting for certain income tax effects of the Tax Cuts and Jobs Act (the "Tax Reform Act"). The standard was effective upon issuance. The adoption of this standard did not have a material impact to the Company's financial statements. New Accounting Standard To Be Adopted - ASU 2016-02 In February 2016, the FASB issued ASU No. 2016-02, "Leases" ("ASU 2016-02"), which will require lessees to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, on its balance sheet for operating leases. The standard also requires a lessee to recognize a single lease cost, calculated such that the cost of the lease is allocated over the lease term, generally on a straight-line basis. In July 2018, the FASB issued ASU 2018-10, "Leases, Codification Improvements" ("ASU 2018-10") and ASU 2018-11, "Leases, Targeted Improvements" ("ASU 2018-11"), to provide additional guidance for the adoption. ASU 2018-10 clarifies certain provisions and corrects unintended applications of the guidance. ASU 2018-11 provides an alternative transition method which allows entities the option to present all prior periods under previous lease accounting guidance, while recognizing the cumulative effect of applying the new standard as an adjustment to the opening balance of retained earn |
Investments in Marketable Secur
Investments in Marketable Securities | 12 Months Ended |
Jan. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Marketable Securities | Investments in Marketable Securities The following table summarizes the Company's investments in marketable securities: January 31, 2019 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Commercial paper $ — $ — $ — $ — Corporate bonds 16,949 — (28 ) 16,921 U.S. treasury securities 34,112 — (12 ) 34,100 Total marketable securities $ 51,061 $ — $ (40 ) $ 51,021 January 31, 2018 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Commercial paper $ 10,972 $ — $ (7 ) $ 10,965 Corporate bonds 57,172 — (243 ) 56,929 U.S. treasury securities 16,150 — (70 ) 16,080 Total marketable securities $ 84,294 $ — $ (320 ) $ 83,974 As of January 31, 2019 , the Company had gross unrealized losses of less than $0.1 million , associated with an aggregate fair value of $18.9 million of marketable securities, which have been in a continuous unrealized loss position for more than 12 months. As of January 31, 2018 , no securities had been in a continuous unrealized loss position for more than 12 months. The Company does not believe the unrealized losses represent other-than-temporary impairments based on its evaluation of available evidence. As of January 31, 2019 , the Company's marketable securities have a contractual maturity of two years or less and remaining contractual maturity of one year or less. Interest income, realized gains, realized losses and other-than-temporary declines in fair value on securities available for sale are the potential components of investment income. Investment income for the periods presented consisted of the following: Fiscal year ended January 31, (in thousands) 2019 2018 2017 Interest income $ 1,485 $ 1,134 $ 34 Realized gains — 1 — Total investment income $ 1,485 $ 1,135 $ 34 The Company had no material reclassification adjustments out of accumulated other comprehensive loss into net loss in any of the periods presented. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 12 Months Ended |
Jan. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Fair value is the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Subsequent changes in fair value of these financial assets and liabilities are recognized in earnings or other comprehensive income when they occur. When determining the fair value measurements for assets and liabilities which are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurement or assumptions that market participants would use in pricing the assets or liabilities, such as inherent risk, transfer restrictions, and credit risk. The Company applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1 inputs are based on quoted prices in active markets for identical assets or liabilities. Level 2 inputs are based on observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 inputs are based on unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities, and typically reflect management's estimates of assumptions that market participants would use in pricing the asset or liability. All of the Company’s cash equivalents and marketable securities are classified within Level 1 or Level 2 because the Company’s cash equivalents and marketable securities are valued using quoted market prices or alternative pricing sources and models utilizing observable market inputs. The following table summarizes the Company's assets that are measured at fair value on a recurring basis, by level, within the fair value hierarchy: January 31, 2019 (in thousands) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds (1) $ 42,021 $ — $ — $ 42,021 Marketable securities: Commercial paper — — — — Corporate bonds — 16,921 — 16,921 U.S. treasury securities — 34,100 — 34,100 Total assets $ 42,021 $ 51,021 $ — $ 93,042 January 31, 2018 (in thousands) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds (1) $ 16,846 $ — $ — $ 16,846 Marketable securities: Commercial paper — 10,965 — 10,965 Corporate bonds — 56,929 — 56,929 U.S. treasury securities — 16,080 — 16,080 Total assets $ 16,846 $ 83,974 $ — $ 100,820 (1) Included in cash and cash equivalents. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Jan. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Goodwill and Intangible Assets Goodwill Goodwill represents the excess of cost over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. Goodwill is not amortized but is subject to periodic testing for impairment at the reporting unit level, which is at or one level below the operating segment level. The Company operates as one operating segment. The Company conducted its annual impairment test for goodwill as of November 1 st for each of the fiscal years ended January 31, 2019 and 2018 . As a result of the annual tests and interim impairment assessments, the Company determined that goodwill was not impaired and that no events occurred or circumstances changed that would more likely than not reduce the fair value of the Company's reporting unit below its carrying amount. However, if certain events occur or circumstances change, it may be necessary to record impairment charges in the future. The following table summarizes the changes in goodwill: (in thousands) Fair Value Goodwill as of January 31, 2017 $ 4,444 Foreign currency translation 480 Goodwill as of January 31, 2018 4,924 Foreign currency translation (264 ) Goodwill as of January 31, 2019 $ 4,660 Intangible Assets The Company’s intangible assets with definite lives are amortized on a straight‑line basis over their estimated useful lives, which range from 3 to 15 years. Intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company has no indefinite-lived intangible assets. The Company determined that no events occurred or circumstances changed during the fiscal years ended January 31, 2019 and 2018 that would indicate that its intangible assets with finite lives may not be recoverable. However, if certain events occur or circumstances change, it may be necessary to record impairment charges in the future. The following table summarizes the intangible asset balances: (in thousands) Gross Fair Accumulated Foreign Net Book Weighted Website development $ 904 $ (901 ) $ — $ 3 0.16 Domains 365 (51 ) — 314 12.97 Customer relationships 5,256 (1,937 ) (917 ) 2,402 3.87 Trade names and trademarks 112 (69 ) (1 ) 42 1.87 Intangible assets as of January 31, 2018 $ 6,637 $ (2,958 ) $ (918 ) $ 2,761 5.28 Website development 904 (904 ) — — 0.0 Domains 365 (75 ) — 290 11.98 Customer relationships 5,256 (2,371 ) (1,233 ) 1,652 2.87 Trade names and trademarks 112 (84 ) (10 ) 18 0.87 Intangible assets as of January 31, 2019 $ 6,637 $ (3,434 ) $ (1,243 ) $ 1,960 4.20 For the fiscal years ended January 31, 2019 , 2018 and 2017 , amortization expense related to intangible assets totaled $0.6 million , $0.7 million and $0.8 million , respectively. As of January 31, 2019 , the future amortization expense of intangible assets was as follows (in thousands): Fiscal year ending January 31, 2020 $ 609 2021 590 2022 543 2023 24 2024 and thereafter 194 Total $ 1,960 |
Property and Equipment, net
Property and Equipment, net | 12 Months Ended |
Jan. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment, net | Property and Equipment, net Property and equipment are recorded at cost and depreciated or amortized on a straight‑line basis over their estimated useful lives. Property and equipment, net consisted of the following: (in thousands) January 31, 2019 January 31, 2018 Furniture and fixtures $ 719 $ 719 Office equipment 7,662 4,636 Leasehold improvements 13,090 12,928 Computer software 6,461 4,563 Construction in progress 841 124 Total property and equipment 28,773 22,970 Less: accumulated depreciation (17,696 ) (11,532 ) Total property and equipment, net $ 11,077 $ 11,438 For the fiscal years ended January 31, 2019 , 2018 and 2017 , depreciation expense was $6.2 million , $4.4 million and $3.3 million , respectively. |
Accounts Payable, Accrued Expen
Accounts Payable, Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Jan. 31, 2019 | |
Payables and Accruals [Abstract] | |
Accounts Payable, Accrued Expenses and Other Current Liabilities | Accounts Payable, Accrued Expenses and Other Current Liabilities Accounts payable, accrued expenses and other current liabilities consisted of the following: (in thousands) January 31, 2019 January 31, 2018 Accounts payable $ 8,025 $ 4,253 Accrued employee compensation 19,029 11,341 Accrued Knowledge Network application provider fees 2,508 1,860 Accrued professional services and associated costs 2,198 1,333 Accrued sales and use tax 2,206 1,846 Accrued employee stock purchase plan withholdings liability 2,635 3,750 Customer deposits 1,144 — Other current liabilities 4,906 3,033 Total accounts payable, accrued expenses and other current liabilities $ 42,651 $ 27,416 |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Jan. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation 2008 Equity Incentive Plan The Company's 2008 Equity Incentive Plan (the "2008 Plan"), as amended on March 10, 2016, allowed for the issuance of up to 25,912,531 shares of common stock. Awards granted under the 2008 Plan may be incentive stock options ("ISOs"), nonqualified stock options ("NQSOs"), restricted stock and restricted stock units. The 2008 Plan is administered by the Company's Board of Directors, which determines the terms of the options granted, the exercise price, the number of shares subject to option and the option vesting period. No ISO or NQSO is exercisable after 10 years from the date of grant, and option awards will typically vest over a four -year period. The 2008 Plan was terminated in connection with the adoption of the Company's 2016 Equity Incentive Plan (the "2016 Plan") in December 2016, and the Company will not grant any additional awards under the 2008 Plan. However, the 2008 Plan will continue to govern the terms and conditions of the outstanding awards previously granted thereunder. 2016 Equity Incentive Plan In December 2016, the Company's Board of Directors adopted, and its stockholders approved, the 2016 Plan, The number of shares reserved for issuance under the 2016 Plan will increase on the first day of each fiscal year during the term of the 2016 Plan by the lesser of: (i) 10,000,000 shares, (ii) 4% of the outstanding shares of common stock as of the last day of the immediately preceding fiscal year; or (iii) such other amount as the Company's Board of Directors may determine. On February 1, 2018, the number of shares of common stock available for issuance under the 2016 Plan was automatically increased according to its terms by 3,759,077 shares. In addition, the shares reserved for issuance under the 2016 Plan also include shares returned to the 2008 Plan as the result of expiration or termination of options or other awards. As of January 31, 2019 , the number of shares available for future award under the 2016 Plan is 1,220,572 . Stock Options The following table summarizes the activity related to the Company's stock options: Options Outstanding Outstanding Stock Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (in thousands) Balance, January 31, 2018 22,512,856 $ 5.65 6.91 $ 146,471 Granted — $ — Exercised (5,900,102 ) $ 3.20 Forfeited or canceled (635,519 ) $ 6.09 Balance, January 31, 2019 15,977,235 $ 6.54 6.40 $ 144,934 Vested and expected to vest 15,932,427 $ 6.53 6.39 $ 144,545 Exercisable at January 31, 2019 10,953,453 $ 5.78 5.70 $ 107,739 Nonvested option activity is as follows: Options Weighted-Average Grant Date Fair Value Nonvested as of January 31, 2018 9,241,953 $ 4.06 Granted — $ — Vested (3,632,673 ) $ 3.79 Forfeited (585,498 ) $ 3.22 Balance as of January 31, 2019 5,023,782 $ 4.35 The aggregate intrinsic value of options vested and expected to vest and exercisable is calculated based on the difference between the exercise price and the fair value of the Company’s common stock as of January 31, 2019 . The fair value of the common stock is the Company’s closing stock price as reported on the New York Stock Exchange. The aggregate intrinsic value of exercised options was $79.4 million , $60.3 million and $2.8 million for the fiscal years ended January 31, 2019 , 2018 and 2017 , respectively, and is calculated based on the difference between the exercise price and the fair value of the Company’s common stock as of the exercise date. No options were granted during the fiscal year ended January 31, 2019 . The weighted-average grant date fair value of options granted during the fiscal years ended January 31, 2018 and 2017 was $5.79 and $3.57 per share, respectively. Restricted Stock and Restricted Stock Units The following table summarizes the activity related to the Company's restricted stock and restricted stock units: Outstanding Weighted-Average Grant Date Fair Value Balance as of January 31, 2018 4,457,585 $ 12.26 Granted - restricted stock and restricted stock units 5,458,873 $ 18.21 Vested and converted to shares (1,598,777 ) $ 13.58 Canceled (613,976 ) $ 13.94 Balance as of January 31, 2019 7,703,705 $ 16.07 Employee Stock Purchase Plan In March 2017, the Company's Board of Directors adopted, and its stockholders approved, the 2017 Employee Stock Purchase Plan ("ESPP"), which became effective on the date it was adopted. The number of shares of the Company's common stock that will be available for sale to employees under the ESPP increases annually on the first day of each fiscal year beginning on February 1, 2018, in an amount equal to the lesser of: (i) 2,500,000 shares; (ii) 1% of the outstanding shares of the Company's common stock as of the last day of the immediately preceding fiscal year; or (iii) such other amount as the administrator may determine. On February 1, 2018, the number of shares of common stock available for issuance under the ESPP was automatically increased according to its terms by 939,769 shares. As of January 31, 2019 , a total of 1,746,085 shares of the Company's common stock are available for sale to employees under the ESPP. The initial offering period of the ESPP commenced on the effective date of the Initial Public Offering ("IPO"), April 13, 2017, and ended on March 15, 2018. In connection with the initial offering period of the ESPP, 437,527 shares of common stock were purchased under the ESPP at a purchase price of $9.35 per share for total proceeds of $4.1 million . A second offering period began on March 15, 2018 and ended on September 17, 2018. In connection with the second offering period, 256,157 shares of common stock were purchased under the ESPP at a purchase price of $10.49 per share for total proceeds of $2.7 million . A third offering period began on September 17, 2018 and will end on March 15, 2019. As of January 31, 2019 , 176,241 shares are estimated to be purchased at the end of the offering period and $2.6 million has been withheld on behalf of employees for these future purchases under the ESPP and is included in accounts payable, accrued expenses and other current liabilities. The Black-Scholes option-pricing model assumptions used to calculate the fair value of shares estimated to be purchased under the ESPP offering periods were as follows: Fiscal year ended January 31, 2019 2018 2017 Expected life (years) 0.50 0.92 — Expected volatility 34.41% - 45.09% 38.30% — Dividend yield 0.00% 0.00% — Risk-free rate 1.95% - 2.35% 1.02% — The expected life assumptions were based on each offering period's respective purchase date. The Company estimated the expected volatility assumptions based on the average of the historical volatility for a sample of comparable companies for the offering periods beginning April 13, 2017 and March 15, 2018. Effective with the offering period beginning September 17, 2018, the Company determined it had sufficient historical information and estimated the expected volatility assumption based on the historical volatility of its stock price. The risk-free rate assumptions were based on the U.S. treasury yield curve in effect at the time of grants. The dividend yield assumption was zero as the Company has not historically paid any dividends and does not expect to declare or pay any dividends in the foreseeable future. During the fiscal years ended January 31, 2019 and 2018 , the Company recorded $2.1 million and $1.3 million respectively, of stock-based compensation expense associated with the ESPP. During the fiscal year ended January 31, 2017, there was no stock-based compensation expense associated with the ESPP as the initial offering period had not yet commenced. As of January 31, 2019 , total unrecognized compensation cost related to ESPP was $0.3 million , net of estimated forfeitures, which will be amortized over a weighted-average remaining period of 0.12 years . A new offering period commences on the first trading day on or after March 15 th and September 15 th each year, or on such other date as the administrator will determine and will end on the first trading day, approximately six months later, on or after September 15 th and March 15 th , respectively. Participants may purchase the Company’s common stock through payroll deductions, up to a maximum of 15% of their eligible compensation. Unless changed by the administrator, the purchase price for each share of common stock purchased under the ESPP will be 85% of the lower of the fair market value per share on the first trading day of the applicable offering period (or, in the case of the initial offering period, the price at which one share of common stock was offered to the public in its IPO) or the fair market value per share on the last trading day of the applicable offering period. Stock-Based Compensation Expense Stock-based compensation represents the cost related to stock-based awards granted to employees and non-employees in lieu of monetary payment. The Company measures stock-based compensation at the grant date, based on the estimated fair value of the award, and recognizes the expense on a straight-line basis (net of estimated forfeitures) over the requisite service period in the consolidated statements of operations and comprehensive loss. Stock-based compensation expense associated with stock-based awards granted to non-employees is re-measured each period until fully vested. The Company's stock-based compensation expense was as follows: Fiscal year ended January 31, (in thousands) 2019 2018 2017 Cost of revenue $ 2,915 $ 1,459 $ 590 Sales and marketing 22,519 11,121 4,359 Research and development 8,475 3,756 1,954 General and administrative 10,324 6,024 2,948 Total stock-based compensation expense $ 44,233 $ 22,360 $ 9,851 As of January 31, 2019 , there was approximately $132.6 million of total unrecognized compensation cost related to unvested stock-based awards. This unrecognized compensation cost is expected to be recognized over an estimated weighted-average vesting period of approximately 3.12 years . During the fiscal years ended January 31, 2019 , 2018 and 2017 , the Company capitalized $0.7 million , $0.4 million and $0.1 million , respectively, of stock-based compensation related to development of additional functionality to its cloud-based platform. No options were granted during the fiscal year ended January 31, 2019 . The fair value of the Company’s stock options granted during the fiscal years ended January 31, 2018 and 2017 were estimated using the Black-Scholes option-pricing model with the following assumptions: Fiscal year ended January 31, 2018 2017 Expected life (years) 6.08 6.25 Expected volatility 46.39% - 48.77% 52.00% Dividend yield 0.00% 0.00% Risk-free rate 1.87% - 2.70% 1.66% The expected life assumptions were based upon the simplified method for employee grants, as the Company does not yet have sufficient historical exercise data to provide a reasonable basis upon which to estimate its expected term due to the limited period of time its equity shares have been publicly traded. The expected volatility assumptions were based on the average of the historical volatility for a sample of comparable companies. The risk-free rate assumptions were based on the U.S. treasury yield curve in effect at the time of grants. A dividend yield assumption of zero as the Company has not historically paid any dividends and does not expect to declare or pay any dividends in the foreseeable future. The expected life assumptions for options granted to non-employees are based upon the remaining contractual term of the option. |
Equity
Equity | 12 Months Ended |
Jan. 31, 2019 | |
Equity [Abstract] | |
Equity | Equity Convertible Preferred Stock In April 2017, upon the closing of the Company's IPO, all outstanding shares of convertible preferred stock were automatically converted into an aggregate of 43,594,753 shares of common stock and all outstanding warrants exercisable for shares of convertible preferred stock automatically converted into warrants exercisable for 110,937 shares of common stock. At that time, a final fair value adjustment of $0.5 million was recorded to other expense, net and the remaining preferred stock warrant liability of $1.4 million was reclassified to stockholders' equity (deficit). Preferred Stock Effective April 2017, the Company’s Board of Directors is authorized to issue up to 50,000,000 shares of preferred stock, $0.001 par value, in one or more series without stockholder approval. The Company's Board of Directors has the discretion to determine the rights, preferences, privileges and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, of each series of preferred stock. The issuance of preferred stock could have the effect of restricting dividends on the Company’s common stock, diluting the voting power of its common stock, impairing the liquidation rights of its common stock, or delaying or preventing changes in control or management of the Company. As of January 31, 2019 and 2018 , no shares of preferred stock were issued or outstanding. Common Stock As of January 31, 2019 and 2018 , the Company had authorized 500,000,000 shares of voting $0.001 par value common stock. Each holder of the Company's common stock is entitled to one vote for each share on all matters to be voted upon by the stockholders and there are no cumulative rights. Subject to any preferential rights of any outstanding preferred stock, holders of the Company's common stock are entitled to receive ratably the dividends, if any, as may be declared from time to time by the Company's Board of Directors out of legally available funds. If there is a liquidation, dissolution or winding up of the Company, holders of the Company's common stock would be entitled to share in the Company's assets remaining after the payment of liabilities and any preferential rights of any outstanding preferred stock. Holders of the Company's common stock have no preemptive or conversion rights or other subscription rights, and there are no redemption or sinking fund provisions applicable to the common stock. All outstanding shares of the Company's common stock will be fully paid and non-assessable. The rights, preferences and privileges of the holders of the Company's common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of preferred stock which the Company may designate and issue in the future. Treasury Stock As of January 31, 2019 and 2018 , the Company had 6,505,334 shares of treasury stock which are carried at its cost basis of $11.9 million on the Company's consolidated balance sheets. |
Debt
Debt | 12 Months Ended |
Jan. 31, 2019 | |
Debt Disclosure [Abstract] | |
Debt | Debt On March 16, 2016, the Company entered into a Loan and Security agreement with Silicon Valley Bank that provides for a $15.0 million revolving credit line ("Revolving Line") and a $7.0 million Letter of Credit facility (together with the Revolving Line, the "Credit Agreement"). In March 2018, the Credit Agreement was amended to extend the maturity date to March 16, 2020. No significant debt issuance costs were incurred in association with the amendment. The Company is obligated to pay ongoing commitment fees at a rate equal to 0.25% for the Revolving Line and 1.75% for any issued letters of credit. Subject to certain terms of the Credit Agreement, the Company may borrow, prepay and reborrow amounts under the Revolving Line at any time during the agreement and amounts repaid or prepaid may be reborrowed. Interest rates on borrowings under the Revolving Line will be based on one-half of one percent ( 0.50% ) above the prime rate. The prime rate is defined as the rate of interest per annum from time to time published in the money rate section of the Wall Street Journal. The Credit Agreement contains certain customary affirmative and negative covenants, including an adjusted quick ratio of at least 1.25 to 1.00, minimum revenue, a limit on the Company's ability to incur additional indebtedness, dispose of assets, make certain acquisition transactions, pay dividends or make distributions, and certain other restrictions on the Company's activities each defined specifically in the agreement. As of January 31, 2019 , the Company was in compliance with all debt covenants. As of such date, the $15.0 million Revolving Line was fully available. The $7.0 million Letter of Credit facility had $5.3 million allocated as security in connection with office space as of the fiscal year ended January 31, 2019. Subsequent to the fiscal year-end, in February 2019, an additional $1.4 million was allocated in connection with new office space, resulting in $0.3 million remaining available under the Letter of Credit facility. |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The domestic and international components of the Company's loss from operations before income taxes are as follows: Fiscal year ended January 31, (in thousands) 2019 2018 2017 Domestic $ (64,653 ) $ (58,875 ) $ (41,621 ) International (9,962 ) (7,528 ) (1,461 ) Loss from operations before income taxes $ (74,615 ) $ (66,403 ) $ (43,082 ) The Company's (provision for) benefit from income taxes is comprised of the following: Fiscal year ended January 31, (in thousands) 2019 2018 2017 Current: Federal $ (19 ) $ — $ — State (91 ) — — International (155 ) (291 ) (37 ) Total current (265 ) (291 ) (37 ) Deferred: Federal — 100 — State — — — International 43 29 (31 ) Total deferred 43 129 (31 ) Total (provision for) benefit from income taxes $ (222 ) $ (162 ) $ (68 ) The Company reconciled its income taxes at the federal statutory income tax rate to the (provision for) benefit from income taxes included within its consolidated statements of operations and comprehensive loss. The reconciliation is as follows: Fiscal year ended January 31, (in thousands) 2019 2018 2017 U.S. federal tax (provision) benefit at statutory rate $ 15,669 $ 21,849 $ 14,648 State taxes, net of federal (provision) benefit 6,499 1,766 990 Foreign tax rate differential 448 (637 ) (253 ) Non-deductible expenses (1,737 ) (3,503 ) (1,549 ) Change in valuation allowance (37,808 ) 1,599 (13,805 ) Rate change 7 (21,580 ) (52 ) Excess tax benefits from stock-based compensation 16,847 — — Other, net (147 ) 344 (47 ) Total (provision for) benefit from income taxes $ (222 ) $ (162 ) $ (68 ) Deferred Income Taxes Deferred income taxes reflect the net tax effects of (a) temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, and (b) operating loss carryforwards. The components of the Company's deferred income taxes were as follows: Fiscal year ended January 31, (in thousands) 2019 2018 Deferred tax assets: Net operating loss carryforwards $ 76,259 $ 39,653 Stock-based compensation 7,710 4,937 Allowance for doubtful accounts 65 58 Deferred rent 758 1,066 Accrued expenses 2,081 233 Unearned revenue 26 62 Property and equipment 414 — Intangible assets 712 330 Other 133 57 Total deferred tax assets 88,158 46,396 Less: valuation allowance (80,901 ) (43,071 ) Deferred tax assets, net of valuation allowance 7,257 3,325 Deferred tax liabilities: Prepaid expenses (57 ) (86 ) Property and equipment — (406 ) Intangible assets — (103 ) Costs to obtain revenue contracts (6,966 ) (2,763 ) Other (231 ) (12 ) Total deferred tax liabilities (7,254 ) (3,370 ) Net deferred tax asset (liability) $ 3 $ (45 ) As of January 31, 2019 , for federal income tax purposes, the Company had $290.4 million of gross U.S. federal NOL carryforwards, which expire starting in fiscal 2028 with others indefinitely carried forward. As of January 31, 2019 , for state income tax purposes, the Company had $11.0 million of post‑apportioned, tax‑effected NOL carryforwards, which expire in fiscal 2025 through fiscal 2039 . As of January 31, 2019 , the Company had $4.2 million of tax‑effected foreign NOL carryforwards. Utilization of the Company’s NOL carryforwards in the future will be dependent upon its ability to generate taxable income and could be limited due to ownership changes, as defined under the provisions of Section 382 of the Code and similar state provisions. Utilization of the Company’s foreign NOL carryforwards in the future will be dependent upon the local tax law and regulation. The Company regularly evaluates the realizability of its deferred tax assets and establishes a valuation allowance if it is more likely than not that some or all the deferred tax assets will not be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, loss carryback and tax-planning strategies. Generally, more weight is given to objectively verifiable evidence, such as the cumulative loss in recent years, as a significant piece of negative evidence to overcome. During the fiscal year ended January 31, 2019 , the valuation allowance increased $37.8 million from approximately $43.1 million to $80.9 million , primarily due to the impact of the NOL carryforwards established in the current period and other increases in U.S. deferred tax assets. During the fiscal year ended January 31, 2018 , the valuation allowance decreased $1.5 million from approximately $44.6 million to $43.1 million , primarily due to the impact of the remeasurement of the NOL carryforwards and other U.S. deferred tax assets in conjunction with the Tax Reform Act, largely offset by NOL carryforwards established and other increases in U.S. deferred tax assets. The Company will continue to assess the realizability of the deferred tax assets in each applicable jurisdiction going forward. Other Considerations The Company has not recorded deferred income taxes and withholding taxes with respect to the undistributed earnings of its foreign subsidiaries as such earnings are determined to be reinvested indefinitely. Upon distribution of those earnings in the form of dividends or otherwise, the Company may be subject to U.S. federal and state income taxes and withholding taxes, the determination of which is not practical as it is dependent on the amount of U.S. tax losses or other tax attributes available at the time of repatriation. The Company's aggregate undistributed earnings of its foreign subsidiaries is in a loss position. As of January 31, 2019 and 2018 , gross undistributed earnings of the Company’s foreign subsidiaries amounted to $0.1 million and $0.5 million , respectively. The Company has concluded the accounting under the Tax Reform Act within the time period set forth in Staff Accounting Bulletin No. 118. The SEC guidance allowed for a measurement period of up to one year after the enactment date of the Tax Reform Act to finalize the recording of the related accounting for income tax impacts, including the impacts of the transition tax, the remeasurement of U.S. deferred tax assets and liabilities as a result of the reduction of the U.S. corporate tax rate, and the accounting policy election related to U.S. taxes on foreign earnings. The Company did not record any amounts due to the effect of the one-time transition tax under the Tax Reform Act and it did not make any adjustments to the provisional estimate recorded in the fiscal year ended January 31, 2018. For the fiscal years ended January 31, 2019 and 2018 , the Company did not take any uncertain tax positions, and recognized less than $0.1 million in each of the periods presented for interest and penalties related to accrued unrecognized tax benefits. As of January 31, 2019 and 2018 , $0.2 million of accrued unrecognized tax benefits, associated with an uncertain tax position taken on an intercompany transfer of certain intangible assets in the fiscal year ended January 31, 2016, were included within other long term liabilities on the consolidated balance sheets. The Company does not expect any significant change in its unrecognized tax benefits during the next twelve months. The Company is subject to taxation in the United States and various state and foreign jurisdictions. The Company’s most significant operations are in the United States and the earliest open tax year subject to potential examination in the United States is 2008 . |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jan. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Commitments and Other Contractual Obligations The Company is obligated to make payments under certain non-cancelable operating leases for office space, with various expiry dates between fiscal years 2020 and 2028 , including it's primary facility in New York, which expires in December 2020 . The Company is a party to various agreements with Knowledge Network application providers, which expire at various dates between fiscal years 2020 and 2035 . Future minimum annual payments under these and other contractual obligations in the normal course of business as of January 31, 2019 were as follows (in thousands): Fiscal year ending January 31: Operating Leases Application Providers and Other 2020 $ 7,494 $ 17,403 2021 6,236 4,393 2022 440 548 2023 448 23 2024 and thereafter 1,858 109 Total $ 16,476 $ 22,476 Subsequent to the fiscal year ended January 31, 2019 , the Company entered into lease agreements for offices in Rosslyn, VA and London, UK, with expiration dates subsequent to the fiscal year ending January 31, 2024, and related aggregate contractual obligations of approximately $41 million . During the fiscal years ended January 31, 2019 , 2018 and 2017 , the Company recognized rent expense of $7.3 million , $6.3 million and $5.8 million , respectively. Legal Proceedings The Company is and may be involved in various legal proceedings arising in the normal course of business. Although the results of litigation and claims cannot be predicted with certainty, currently, in the opinion of the Company, the likelihood of any material adverse impact on the Company's results of operations, cash flows or the Company's financial position for any such litigation or claims is deemed to be remote. Regardless of the outcome, litigation can have an adverse impact on the Company because of defense costs, diversion of management resources and other factors. Warranties and Indemnifications The Company's platform is in some cases warranted to perform in a manner consistent with general industry standards that are reasonably applicable and materially in accordance with the Company's product specifications. The Company's arrangements generally include certain provisions for indemnifying customers against liabilities if its products or services infringe a third-party's intellectual property rights and/or if the Company breaches its contractual agreements with a customer or in instances of negligence, fraud or willful misconduct by the Company. To date, the Company has not incurred any material costs as a result of such obligations and has not accrued any liabilities related to such obligations in the accompanying consolidated financial statements. The Company has also agreed to indemnify certain of its directors and executive officers for costs associated with any fees, expenses, judgments, fines and settlement amounts incurred by any of these persons in any action or proceeding to which any of those persons is, or is threatened to be, made a party by reason of the person's service as a director or officer, including any action by the Company, arising out of that person's services as the Company's director or officer or that person's services provided to any other company or enterprise at the Company's request. The Company maintains director and officer insurance coverage that would generally enable the Company to recover a portion of any future amounts paid. The Company may also be subject to indemnification obligations by law with respect to the actions of its employees under certain circumstances and in certain jurisdictions. |
Net Loss Per Share Attributable
Net Loss Per Share Attributable to Common Stockholders | 12 Months Ended |
Jan. 31, 2019 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share Attributable to Common Stockholders | Net Loss Per Share Attributable to Common Stockholders The following table sets forth the computation of the basic and diluted net loss per share attributable to common stockholders: Fiscal year ended January 31, (in thousands, except share and per share data) 2019 2018 2017 Numerator: Net loss attributable to common stockholders $ (74,837 ) $ (66,565 ) $ (43,150 ) Denominator: Weighted-average common shares outstanding 98,387,366 78,632,448 31,069,695 Net loss per share attributable to common stockholders, basic and diluted $ (0.76 ) $ (0.85 ) $ (1.39 ) Basic net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. Unvested restricted stock and restricted stock units are excluded from the denominator of basic net loss per share. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average number of common shares plus common equivalent shares for the period, including any dilutive effect from such shares. Since the Company was in a net loss position for all periods presented, net loss per share attributable to common stockholders was the same on a basic and diluted basis, as the inclusion of all potential common equivalent shares outstanding would have been anti-dilutive. Anti-dilutive common equivalent shares were as follows: As of January 31, 2019 2018 2017 Convertible preferred stock as converted — — 43,594,753 Series B warrants as converted — — 67,568 Series C warrants as converted — — 43,369 Common stock warrants — — 85,000 Options to purchase common stock 15,977,235 22,512,856 27,420,108 Restricted stock and restricted stock units 7,703,705 4,457,585 330,000 Shares estimated to be purchased under ESPP 176,241 482,988 — Total anti-dilutive common equivalent shares 23,857,181 27,453,429 71,540,798 |
Selected Quarterly Financial Da
Selected Quarterly Financial Data (Unaudited) (Notes) | 12 Months Ended |
Jan. 31, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Selected quarterly financial information | Selected Quarterly Financial Data (Unaudited) Selected summarized quarterly financial information for the fiscal years ended January 31, 2019 and 2018 is as follows: Three months ended (in thousands, except per share data) Jan. 31, 2019 Oct. 31, 2018 1 Jul. 31, 2018 1 Apr. 30, 2018 1 Revenue $ 63,759 $ 58,613 $ 54,923 $ 50,988 Gross profit $ 48,118 $ 43,727 $ 40,837 $ 38,188 Loss from operations $ (16,223 ) $ (23,012 ) $ (19,504 ) $ (16,906 ) Net loss $ (15,460 ) $ (22,940 ) $ (19,396 ) $ (17,041 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.15 ) $ (0.23 ) $ (0.20 ) $ (0.18 ) Three months ended (in thousands, except per share data) Jan. 31, 2018 Oct. 31, 2017 Jul. 31, 2017 Apr. 30, 2017 Revenue $ 48,020 $ 44,332 $ 40,769 $ 37,080 Gross profit $ 35,812 $ 32,674 $ 30,228 $ 27,392 Loss from operations $ (17,503 ) $ (17,236 ) $ (16,507 ) $ (15,394 ) Net loss $ (16,998 ) $ (17,062 ) $ (16,399 ) $ (16,106 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.18 ) $ (0.19 ) $ (0.18 ) $ (0.40 ) 1 As adjusted from previously reported amounts due to the adoption of ASU 2014-09 as shown below. Selected summarized quarterly financial information for the three months ended October 31, 2018 was adjusted as follows: (In thousands) Prior to Adoption of ASU 2014-09 Adjustments Due to ASU 2014-09 As Adjusted Revenue $ 58,742 $ (129 ) $ 58,613 Gross profit $ 43,856 $ (129 ) $ 43,727 Loss from operations $ (24,838 ) $ 1,826 $ (23,012 ) Net loss $ (24,766 ) $ 1,826 $ (22,940 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.25 ) $ 0.02 $ (0.23 ) Selected summarized quarterly financial information for the three months ended July 31, 2018 was adjusted as follows: (In thousands) Prior to Adoption of ASU 2014-09 Adjustments Due to ASU 2014-09 As Adjusted Revenue $ 55,096 $ (173 ) $ 54,923 Gross profit $ 41,010 $ (173 ) $ 40,837 Loss from operations $ (21,204 ) $ 1,700 $ (19,504 ) Net loss $ (21,096 ) $ 1,700 $ (19,396 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.22 ) $ 0.02 $ (0.20 ) Selected summarized quarterly financial information for the three months ended April 30, 2018 was adjusted as follows: (In thousands) Prior to Adoption of ASU 2014-09 Adjustments Due to ASU 2014-09 As Adjusted Revenue $ 51,095 $ (107 ) $ 50,988 Gross profit $ 38,295 $ (107 ) $ 38,188 Loss from operations $ (18,001 ) $ 1,095 $ (16,906 ) Net loss $ (18,136 ) $ 1,095 $ (17,041 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.19 ) $ 0.01 $ (0.18 ) |
Revenue (Notes)
Revenue (Notes) | 12 Months Ended |
Jan. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | Revenue The Company derives its revenue primarily from its subscription and associated support to its cloud-based Knowledge Engine platform. As discussed in Note 2 “Summary of Significant Accounting Policies - Recent Accounting Pronouncements” the Company adopted ASU 2014-09 effective for the fiscal year ended January 31, 2019, inclusive of the interim periods ended April 30, July 31, and October 31, 2018. During the fiscal years ended January 31, 2018 and 2017, the Company recognized revenue in accordance with ASC 605. Disaggregation of Revenue The Company disaggregates its revenue from contracts with customers by geographic region, as it believes this best depicts how the nature, amount, timing, and uncertainty of its revenues and cash flows are affected by economic factors. Revenue by geographic region is determined based on the region of the Company's contracting entity, which may be different than the region of the customer. North America revenue is predominantly attributable to the United States but also includes Canada. International revenue is predominantly attributable to Europe. The following table presents the Company's revenue by geographic region: Fiscal year ended January 31, (in thousands) 2019 2018 2017 North America $ 197,285 $ 155,966 $ 118,754 International 30,998 14,235 5,507 Total revenue $ 228,283 $ 170,201 $ 124,261 Significant Judgments Significant judgments and estimates may be required to determine the appropriate application of accounting related to revenue, including whether performance obligations are distinct and assessments regarding the transaction price. The Company has identified that it has two distinct performance obligations. The Company predominantly recognizes revenue through its performance obligation of a subscription and associated support to its platform, which lets businesses control their digital knowledge in the cloud and sync their information to the Knowledge Network. It is distinct because a customer's use of the platform is fully functional upon access, does not require any additional development, modification or customization, and is often sold separately. In certain instances, the Company enters into a contract with a customer that includes a promise to provide certain technical or customized professional services, in addition to a promise to provide its subscription and associated support. The Company's professional services performance obligation is distinct as it does not significantly change or enhance the functionality of the platform. In those instances when a contract includes more than one performance obligation, the Company must allocate the transaction price to the performance obligations on a relative standalone selling price ("SSP") basis. SSP represents the price at which a company would sell a promised product or service separately to a customer. The Company determines the SSP based on a series of complex factors. The Company's selling prices associated with its subscription and associated support are considered highly variable based on discounting practices, customer geography, customer size, and other such factors. In contrast, the Company's selling prices associated with its professional services are more observable, predictable and consistent. Accordingly, the Company uses the residual method, under which the total transaction price and observable SSP of the professional services performance obligation is used to arrive at the estimated SSP of the subscription and associated support performance obligation. The Company's revenue is predominately related to its subscription and associated support. Professional services revenue accounted for approximately 4% of the Company's total revenue for the fiscal year ended January 31, 2019 . Contract Liabilities A contract liability is an obligation to transfer goods or services for which consideration has been received or is due to a customer. The Company's contract liabilities consist primarily of unearned revenue and, to a lesser extent, customer deposits. Unearned revenue represents amounts billed, or payments received, in advance of revenue recognition for which the Company has an unconditional obligation to transfer goods or services associated with a non-cancelable contract. Unearned revenue is subsequently recognized as revenue when transfer of control to a customer has occurred. $87.3 million of revenue recognized for the fiscal year ended January 31, 2019 was included in unearned revenue at the beginning of the period. As of January 31, 2019, unearned revenue, current was $135.5 million and unearned revenue, non-current was $0.1 million and included within other long term liabilities on the Company's consolidated balance sheet. The unearned revenue balance is influenced by several factors, including seasonality, the compounding effects of renewals, and invoice duration, timing and size. The portion of unearned revenue expected to be recognized during the succeeding twelve-month period is classified as Unearned revenue, current, and the remaining portion is classified within Other long term liabilities in the Company’s consolidated balance sheet. Customer deposits represent payments received in advance in instances where a revenue contract is cancelable in nature, and therefore the Company does not have an unconditional obligation to transfer control to a customer. As of January 31, 2019, customer deposits of $1.1 million were included in Accounts payable, accrued expenses and other current liabilities on the Company's consolidated balance sheet. Prior to the adoption of ASU 2014-09, during the fiscal years ended January 31, 2018 and 2017, respectively, the Company categorized unearned revenue and customer deposits within Deferred revenue. Deferred revenue consisted of billings or payments received in advance of revenue recognition from contracts, irrespective of whether cancelable or non-cancelable in nature. Remaining Performance Obligations The transaction price allocated to remaining performance obligations represents contracted revenue which is expected to be recognized as revenue in future periods, and includes unearned revenue and non-cancelable unbilled amounts. As of January 31, 2019 , the Company has approximately $262.0 million of remaining performance obligations from revenue contracts, of which $242.9 million is expected to be recognized as revenue over the next twenty-four months, with the balance recognized thereafter. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 31, 2019 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Consolidation | Basis of Presentation and Consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and applicable rules and regulations of the Securities and Exchange Commission ("SEC") regarding financial reporting. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current period presentation, and adjusted in conjunction with the adoption of certain new accounting standards. See "Revenue Recognition," "Costs Capitalized to Obtain Revenue Contracts," "Adoption of New Accounting Standard - ASU 2014-09" and "Adoption of New Accounting Standard - ASU 2016-18" within this Note for further discussion. |
Use of Estimates | Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenue and expense during the reporting period. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that it believes to be reasonable under the circumstances. Actual results could differ from those estimates and such differences could be material to the financial position and results of operations. |
Segment Information | Segment Information The Company operates as one operating segment in providing its cloud-based Knowledge Engine platform. An operating segment is defined as a component of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker ("CODM"). The Company defines its CODM as its executive officers, and their role is to make decisions about allocating resources and assessing performance. The Company's business operates in one operating segment as all of the Company's offerings operate on a single platform and are deployed in an identical way, with its CODM evaluating the Company's financial information, resources and performance of these resources on a consolidated basis. Since the Company operates in one operating segment, all required financial segment information can be found in the consolidated financial statements. |
Revenue Recognition | Revenue Recognition The Company derives its revenue primarily from its subscription and associated support to its cloud‑based Knowledge Engine platform. The Company's subscriptions do not provide customers with the right to take possession of the software supporting the applications and, as a result, are accounted for as service contracts. The Company adopted on a modified retrospective basis Accounting Standards Update ("ASU") 2014-09 "Revenue from Contracts with Customers (Topic 606)" ("ASU 2014-09") in its fourth quarter of the fiscal year ended January 31, 2019 , the effects of which were recognized effective February 1, 2018. The Company recognizes revenue upon transfer of control of services to its customers, including third-party resellers, in an amount that reflects the consideration it expects to receive in exchange for those services. The recognition of revenue is determined through application of the following five-step model: • Identification of the contract(s) with customers; • Identification of the performance obligation(s) in the contract; • Determination of the transaction price; • Allocation of the transaction price to the performance obligation(s) in the contract; and • Recognition of revenue when or as the performance obligation(s) are satisfied The Company identifies the performance obligations in a contract with a customer and determines whether they are distinct or distinct within the context of the contract. When there is more than one distinct performance obligation in a contract, the Company allocates the transaction price to the performance obligations on a relative standalone selling price ("SSP") basis. The Company estimates the amount of consideration expected to be received in exchange for transferring services if the consideration promised in a contract includes a variable amount. Revenue is generally recognized ratably over the contract term beginning on the commencement date of each contract, which is the date the Company’s platform is made available to customers. Contracts are typically one year in length, but may be up to three years or longer in length. At the beginning of each subscription term the Company invoices its customers, typically in annual installments but also monthly, quarterly, and semi-annually. Amounts that have been invoiced for non-cancelable contracts are recorded in accounts receivable and in unearned revenue or revenue, depending on when the transfer of control to customers has occurred. The Company reports revenue net of sales tax and other taxes collected from customers to be remitted to government authorities. Prior to the adoption of this standard, during the fiscal years ended January 31, 2018 and 2017, respectively, the Company recognized revenue when four basic criteria were met: (1) persuasive evidence exists of an arrangement with a customer reflecting the terms and conditions under which the services will be provided; (2) services have been provided or delivery has occurred; (3) the fee is fixed or determinable; and (4) collection is reasonably assured. Collectibility was assessed based on a number of factors, including the creditworthiness of a customer and transaction history. Costs Capitalized to Obtain Revenue Contracts In conjunction with the Company's modified retrospective adoption of ASU 2014-09, effective for the fiscal year ended January 31, 2019, the Company capitalizes incremental costs of obtaining a revenue contract. Incremental costs capitalized primarily include sales commissions for new and renewal revenue contracts, certain related incentives, and associated payroll tax and fringe benefit costs. Capitalized amounts are recoverable through future revenue streams under all customer contracts. Costs capitalized to obtain new revenue contracts are amortized on a straight-line basis over three years, which reflects the average benefit period, and may be longer than the initial contract period. The Company determined the average benefit period having considered both qualitative and quantitative factors, most notably the estimated life of capitalized software development costs resulting from additional functionality to its cloud‑based Knowledge Engine platform. The Company amortizes costs capitalized for contract renewals over the renewal term, reflecting the average benefit period for such renewals, which is typically one year. Amortization of costs capitalized to obtain revenue contracts is included in sales and marketing expense in the accompanying consolidated statements of operations and comprehensive loss. The Company periodically evaluates whether there have been any changes in its business, market conditions, or other events which would indicate that its amortization period should be changed, or if there are potential indicators of impairment. |
Cost of Revenues | Cost of Revenue The Company's cost of revenue primarily relates to costs incurred in association with its cloud-based Knowledge Engine platform. Costs associated with the Company’s arrangements with its Knowledge Network application providers are classified as cost of revenue. The nature of these arrangements may be unpaid, fixed, or variable. Cost of revenue also includes expenses related to hosting the Company’s platform and associated support, which is comprised of salaries, data center capacity costs, stock-based compensation expense, benefits, and other allocated overhead costs. |
Share-based Compensation | Stock‑Based Compensation Stock-based compensation for all employee stock‑based awards, including restricted stock units, restricted stock and options to purchase common stock, is measured at fair value on the date of grant and recognized over the service period. Prior to the Company's IPO, the fair value of the Company’s common stock was determined by the Company’s Board of Directors. The fair value of restricted stock units and restricted stock are estimated on the date of grant based on the fair value of the Company’s common stock. The fair value of employee stock options is estimated on the date of grant using a Black‑Scholes model. Stock-based compensation expense is recognized over the requisite service periods of awards, which is typically four years for options and one to four years for restricted stock and restricted stock units. The estimated forfeiture rate applied is based on historical forfeiture rates. The estimated number of stock-based awards that will ultimately vest requires judgment, and to the extent actual results, or updated estimates, differ from the Company’s current estimates, such amounts will be recorded as a cumulative adjustment in the period actual results are realized or estimates are revised. |
Advertising and Other Promotional Costs | Advertising and Other Promotional Costs Advertising and other promotional costs are expensed as incurred. |
Research and Development | Research and Development Research and development costs are expensed as incurred. Research and development expenses consist primarily of salaries and related costs, including stock-based compensation expense, and exclude capitalized software development costs. |
Capitalized Software Development Costs | Capitalized Software Development Costs The Company capitalizes software development costs in accordance with Accounting Standards Codification ("ASC") 350, and recognizes them on a straight-line basis over an estimated useful life of two to three years. The Company capitalizes certain software development costs, including elements of stock-based compensation, incurred in connection with additional functionality to its platform, as well as its internal-use projects during the application development stage. Capitalized software development costs, net, included in property and equipment, net, were $2.6 million and $2.9 million as of January 31, 2019 and 2018 , respectively. Capitalized software development costs of $2.2 million , $1.2 million and $0.4 million were recognized in the consolidated statement of operations and comprehensive loss during the fiscal years ended January 31, 2019 , 2018 and 2017 , respectively. Software development costs incurred in the maintenance and minor upgrade and enhancement of software without additional functionality are expensed as incurred. |
Income Taxes | Income Taxes The Company accounts for income taxes in accordance with ASC Topic 740, “Income Taxes,” under which deferred income taxes are provided for temporary differences between the financial reporting and tax basis of the Company’s assets and liabilities. The Company classifies all deferred tax assets and liabilities as non-current on the consolidated balance sheet. The effect of a change in tax rates on deferred tax assets and liabilities is recognized within the (provision for) benefit from income taxes on the consolidated statement of operations and comprehensive loss in the period that includes the enactment date. The Company reduces deferred tax assets, if necessary, by a valuation allowance if it is more likely than not that the Company will not realize some or all of the deferred tax assets. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax‑planning strategies, and results of recent operations. See Note 12 "Income Taxes" to the Company's consolidated financial statements for additional information on the composition of these valuation allowances and for information on the impact of U.S. tax reform legislation. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The Company recognizes interest and penalties related to uncertain tax positions within the (provision for) benefit from income taxes on the consolidated statement of operations and comprehensive loss. On December 22, 2017, the Tax Cuts and Jobs Act (the "Tax Reform Act") was enacted. The Tax Reform Act significantly revised the U.S. corporate income tax laws, including, but not limited to, lowering the top bracket of the federal statutory corporate tax rate from 35% to a flat rate of 21%, and allowing net operating losses generated under the Tax Reform Act to be carried forward indefinitely . The Tax Reform Act also imposed a one-time transition tax on accumulated earnings of foreign subsidiaries, eliminated certain deductions, introduced new tax regimes, and changed how foreign earnings are subject to U.S. tax, among other provisions. The Company concluded its accounting under the Tax Reform Act during the fiscal year ended January 31, 2019. |
Convertible Preferred Stock Warrant Liability | Convertible Preferred Stock Warrant Liability The Company had freestanding warrants to purchase its convertible preferred stock which were remeasured to fair value at the balance sheet date and for which changes were recognized in other expense within the consolidated statements of operations and comprehensive loss in such periods. In April 2017, upon the closing of the Company’s Initial Public Offering ("IPO"), all of the Company's outstanding warrants were exercised for 110,937 shares of common stock. See Note 10 "Equity" for further discussion. |
Net Loss Per Share | Net Loss Per Share Basic net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. Unvested restricted stock and restricted stock units are excluded from the denominator of basic net loss per share. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average number of common shares plus the common equivalent shares for the period, including any dilutive effect from such shares. |
Foreign Currency | Foreign Currency The functional currency of the Company’s international subsidiaries is generally the local currency. The Company translates the financial statements of its international subsidiaries to U.S. dollars using month‑end exchange rates for assets and liabilities, and average exchange rates for revenue, costs and expenses. The Company records translation gains and losses in accumulated other comprehensive loss as a component of stockholders’ equity (deficit). Foreign currency transaction gains and losses are included within other income (expense), net in the consolidated statements of operations and comprehensive loss |
Concentration of Credit Risk | Concentration of Credit Risk The Company's financial instruments that are exposed to a concentration of credit risk consist primarily of cash and cash equivalents, marketable securities and accounts receivable. Although the Company deposits its cash with multiple financial institutions, its deposits, at times, may exceed federally insured limits. Collateral is not required for accounts receivable. |
Cash Equivalents and Marketable Securities | Cash and Cash Equivalents Cash consists of cash on deposit with banks that is stated at cost, which approximates fair value. The Company considers all highly liquid investments purchased with original maturities of less than three months from the date of purchase to be cash equivalents. Marketable Securities The Company's investments in marketable securities have consisted of debt securities, including U.S. treasury securities, corporate bonds, and commercial paper. These investments are classified as available for sale and are carried at fair value, with the change in unrealized gains and losses, net of tax, reported as a separate component on the consolidated statements of comprehensive loss. Declines in fair value judged to be other-than-temporary on securities available for sale are included as a component of investment income. In order to determine whether a decline in value is other-than-temporary, the Company evaluates, among other factors, the length of time and extent to which the fair value has been less than the carrying value and its intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair value. The Company considers all of its investments in marketable securities, irrespective of the maturity date, as available for use in current operations, and therefore classifies these securities within current assets on the consolidated balance sheets. The cost of securities sold is based on the specific-identification method. Interest on securities classified as available for sale is also included as a component of investment income. |
Accounts Receivable and Allowance for Doubtful Accounts | Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are carried at the original invoiced amount less an allowance for doubtful accounts based on the probability of future collection. The Company estimates its allowance for doubtful accounts based on historical loss patterns and the number of days that billings are past due. Accounts receivable are written off when deemed uncollectible and collection of the receivable is no longer being actively pursued. |
Deferred Financing Costs | Deferred Financing Costs Financing costs incurred with securing a revolving line of credit are deferred and amortized to interest expense over the term of the agreement. Financing costs associated with revolving credit arrangements are deferred, regardless of whether a balance is outstanding. The Company includes deferred financing costs in prepaid and other assets or other long term assets on the consolidated balance sheet. |
Property and Equipment, Net | Property and Equipment, Net Property and equipment are recorded at cost and depreciated or amortized on a straight‑line basis over their estimated useful lives. Furniture and fixtures have an estimated useful life of five years, while office and computer equipment and internal-use software have an estimated useful life of two to three years. Leasehold improvements and assets held under operating leases are depreciated over the shorter of the term of the lease or their useful life. Upon retirement or sale of assets, the cost and related accumulated depreciation or amortization are removed from the consolidated balance sheet and the resulting gain or loss is reflected in the consolidated statement of operations and comprehensive loss. Maintenance and repair costs are expensed as incurred. |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill represents the excess of cost over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. The Company has no other intangible assets with indefinite useful lives. Goodwill is not amortized but is subject to periodic testing for impairment in accordance with ASC Topic 350, “Intangibles‑Goodwill and Other.” The Company’s goodwill is evaluated at the entity level as it is determined there is one reporting unit. The Company performs its annual impairment test on November 1 st of each year, or more frequently if events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company considers the following potential indicators of impairment: significant underperformance relative to historical or projected future operating results, significant changes in the Company’s use of acquired assets or the strategy of the Company’s overall business, significant negative industry or economic trends and a significant decline in the value of the Company’s enterprise value for a sustained period. The Company’s intangible assets with definite lives, which include customer relationships and domains, are amortized on a straight‑line basis over their estimated useful lives, which range from 3 to 15 years. Long‑lived assets, including intangible assets with finite lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable in accordance with ASC Topic 360, “Property, Plant, and Equipment.” The Company assesses the impairment of long‑lived intangible assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. The Company has not recorded impairment charges on intangible assets for the periods presented in these consolidated financial statements. |
Legal and Other Contingencies | Legal and Other Contingencies From time to time, the Company may be a party to litigation and subject to claims incident to the ordinary course of business, including intellectual property claims, labor and employment claims, breach of contract claims and other asserted and unasserted claims. The Company investigates these claims as they arise and accrues estimates for resolution of legal and other contingencies when losses are probable and estimable. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Section 107 of the Jumpstart Our Business Startups Act of 2012 (the "JOBS Act") provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. Thus, an emerging growth company can defer the adoption of certain accounting standards until those standards would otherwise apply to private companies. However, based on the market value of the Company's common stock held by non-affiliates as of July 31, 2018, and therefore effective January 31, 2019, the Company became a large accelerated filer and ceased to be an emerging growth company on January 31, 2019. The Company is required to adopt new or revised accounting standards as required by public companies, including those standards which the Company had previously deferred pursuant to the JOBS Act. Adoption of New Accounting Standard - ASU 2014-09 In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU 2014-09, which replaces the existing guidance on the recognition of revenue as well as costs to obtain revenue contracts. The Company adopted on a modified retrospective basis the new standard in its fourth quarter of the fiscal year ended January 31, 2019 , the effects of which were recognized effective February 1, 2018. The Company utilized the transitional practical expedient to apply the standard to all contracts not completed as of February 1, 2018. Results for the fiscal year ended January 31, 2019, inclusive of the interim periods ended April 30, July 31, and October 31, 2018, are presented in accordance with ASU 2014-09. See Note 15 “Selected Quarterly Financial Data (Unaudited)” for a reconciliation of the adjustments to previously reported quarterly amounts. Comparative results for the fiscal years ended January 31, 2018 and 2017, respectively, have not been restated. The following table presents the impact of ASU 2014-09 on the Company's consolidated balance sheet as of January 31, 2018 : As of January 31, 2018 (in thousands) As Reported Effect of ASU 2014-09 Inclusive of ASU 2014-09 Assets Accounts receivable, net $ 44,656 $ (1,183 ) $ 43,473 Costs capitalized to obtain revenue contracts, current 9,342 825 10,167 Costs capitalized to obtain revenue contracts, non-current 3,405 6,034 9,439 Liabilities Accounts payable, accrued expenses and other current liabilities 27,416 699 28,115 Unearned revenue, current 89,474 (2,204 ) 87,270 Stockholders' equity Accumulated other comprehensive loss (1,636 ) 3 (1,633 ) Accumulated deficit $ (233,450 ) $ 7,178 $ (226,272 ) The following table summarizes the adoption impact of the new revenue standard on line items within the consolidated balance sheet as of January 31, 2019 : As of January 31, 2019 (in thousands) Prior to Adoption of ASU 2014-09 Adjustments for As Reported Assets Accounts receivable, net $ 56,222 $ (881 ) $ 55,341 Costs capitalized to obtain revenue contracts, current 15,082 2,735 17,817 Costs capitalized to obtain revenue contracts, non-current 4,699 13,667 18,366 Liabilities Accounts payable, accrued expenses and other current liabilities 41,508 1,143 42,651 Unearned revenue, current 137,418 (1,874 ) 135,544 Stockholders' equity Accumulated other comprehensive loss (1,442 ) 14 (1,428 ) Accumulated deficit $ (317,347 ) $ 16,238 $ (301,109 ) The following table summarizes the adoption impact of the new revenue standard on line items within the consolidated statement of operations for the fiscal year ended January 31, 2019 : Fiscal year ended January 31, 2019 (in thousands) Prior to Adoption of ASU 2014-09 Adjustments for ASU 2014-09 As Reported Revenue $ 228,751 $ (468 ) $ 228,283 Cost of revenue 57,413 — 57,413 Gross profit 171,338 (468 ) 170,870 Operating expenses: Sales and marketing 168,372 (9,527 ) 158,845 Research and development 36,098 — 36,098 General and administrative 51,572 — 51,572 Total operating expenses 256,042 (9,527 ) 246,515 Loss from operations (84,704 ) 9,059 (75,645 ) Investment income 1,485 — 1,485 Interest income 72 — 72 Other expense, net (527 ) — (527 ) Loss from operations before income taxes (83,674 ) 9,059 (74,615 ) (Provision for) benefit from income taxes (222 ) — (222 ) Net loss $ (83,896 ) $ 9,059 $ (74,837 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.85 ) $ 0.09 $ (0.76 ) The Company's adoption of ASU 2014-09 did not result in any changes to classification among the operating, investing or financing activity line items within the consolidated statement of cash flows for the fiscal year ended January 31, 2019 . Adoption of New Accounting Standard - ASU 2016-18 In November 2016, the FASB issued No. 2016-18, "Statement of Cash Flows (Topic 230) - Restricted Cash". The Company early adopted the standard during the fiscal year ended January 31, 2019. Amounts generally described as restricted cash are now presented with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The statement of cash flows will no longer present transfers between cash and cash equivalents and restricted cash. As a result of this adoption, there were no changes to the operating, investing and financing activities for the fiscal year ended January 31, 2019 . The presentation of the statement of cash flows for the fiscal years ended January 31, 2018 and 2017 required certain reclassifications to conform to the current year presentation as follows (in thousands): Fiscal year ended January 31, 2018 Line Items - As Revised As Previously Reported Reclassification of Restricted Cash As Revised Net cash used in operating activities $ (31,909 ) $ (500 ) $ (32,409 ) Net cash used in investing activities (88,123 ) — (88,123 ) Net cash provided by financing activities 129,604 — 129,604 Effects of exchange rate changes on cash, cash equivalents and restricted cash 375 — 375 Net increase in cash, cash equivalents and restricted cash 9,947 (500 ) 9,447 Cash, cash equivalents and restricted cash at beginning of period 24,420 500 24,920 Cash, cash equivalents and restricted cash at end of period $ 34,367 $ — $ 34,367 Fiscal year ended January 31, 2017 Line Items - As Revised As Previously Reported Reclassification of Restricted Cash As Revised Net cash used in operating activities $ (7,743 ) $ (5,789 ) $ (13,532 ) Net cash used in investing activities (3,803 ) — (3,803 ) Net cash provided by financing activities 5,968 — 5,968 Effects of exchange rate changes on cash, cash equivalents and restricted cash (30 ) — (30 ) Net decrease in cash, cash equivalents and restricted cash (5,608 ) (5,789 ) (11,397 ) Cash, cash equivalents and restricted cash at beginning of period 30,028 6,289 36,317 Cash, cash equivalents and restricted cash at end of period $ 24,420 $ 500 $ 24,920 Adoption of New Accounting Standard - ASU 2016-09 The Company adopted ASU No. 2016-09, "Improvements to Employee Share-Based Payments Accounting" ("ASU 2016-09") effective February 1, 2018. In conjunction with the adoption of the standard, the Company records excess tax benefits and deficiencies that result when stock-based awards vest or are settled within the (provision for) benefit from income taxes in the consolidated statement of operations and comprehensive loss. The Company utilized a modified-retrospective approach for previously unrecognized excess tax benefits that existed as of January 31, 2018 , and the related deferred tax assets were fully offset by a valuation allowance. In addition, the Company elected to continue to estimate its forfeiture rate associated with stock-based awards. The adoption of this standard did not have an effect on the statement of cash flows. Adoption of New Accounting Standard - ASU 2018-05 In March 2018, the FASB issued ASU No. 2018-05, “Income Taxes (Topic 740)," to conform to SEC Staff Accounting Bulletin No. 118 ("SAB 118"). The standard was issued to allow registrants to record provisional amounts during a measurement period not to extend beyond one year from the enactment date in instances when a registrant does not have the necessary information available, prepared, or analyzed in reasonable detail to complete the accounting for certain income tax effects of the Tax Cuts and Jobs Act (the "Tax Reform Act"). The standard was effective upon issuance. The adoption of this standard did not have a material impact to the Company's financial statements. New Accounting Standard To Be Adopted - ASU 2016-02 In February 2016, the FASB issued ASU No. 2016-02, "Leases" ("ASU 2016-02"), which will require lessees to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, on its balance sheet for operating leases. The standard also requires a lessee to recognize a single lease cost, calculated such that the cost of the lease is allocated over the lease term, generally on a straight-line basis. In July 2018, the FASB issued ASU 2018-10, "Leases, Codification Improvements" ("ASU 2018-10") and ASU 2018-11, "Leases, Targeted Improvements" ("ASU 2018-11"), to provide additional guidance for the adoption. ASU 2018-10 clarifies certain provisions and corrects unintended applications of the guidance. ASU 2018-11 provides an alternative transition method which allows entities the option to present all prior periods under previous lease accounting guidance, while recognizing the cumulative effect of applying the new standard as an adjustment to the opening balance of retained earnings in the year of adoption. The Company plans to adopt the new leases standard utilizing the modified retrospective approach on February 1, 2019. Under this adoption method, all prior periods will continue to be reported under previous lease accounting guidance. The Company plans to utilize the package of practical expedients to not reassess prior conclusions related to contracts containing leases, lease classification, and initial direct costs. The Company has completed its process of identifying the population of leases impacted by the adoption and is in the process of completing its analysis of applying the new guidance to these leases. It is also evaluating the appropriate incremental borrowing rates to discount its future minimum lease payments in calculating the lease liabilities and right-of-use assets. The Company expects the adoption of this standard will result in the recognition of right-of-use assets and lease liabilities, primarily related to its office facilities, which are disclosed in Note 13 "Commitments and Contingencies". The Company does not expect the adoption to have a material impact on its consolidated statements of operations and comprehensive loss or consolidated statement of cash flows. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Accounting Policies [Abstract] | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The following table presents the impact of ASU 2014-09 on the Company's consolidated balance sheet as of January 31, 2018 : As of January 31, 2018 (in thousands) As Reported Effect of ASU 2014-09 Inclusive of ASU 2014-09 Assets Accounts receivable, net $ 44,656 $ (1,183 ) $ 43,473 Costs capitalized to obtain revenue contracts, current 9,342 825 10,167 Costs capitalized to obtain revenue contracts, non-current 3,405 6,034 9,439 Liabilities Accounts payable, accrued expenses and other current liabilities 27,416 699 28,115 Unearned revenue, current 89,474 (2,204 ) 87,270 Stockholders' equity Accumulated other comprehensive loss (1,636 ) 3 (1,633 ) Accumulated deficit $ (233,450 ) $ 7,178 $ (226,272 ) The following table summarizes the adoption impact of the new revenue standard on line items within the consolidated balance sheet as of January 31, 2019 : As of January 31, 2019 (in thousands) Prior to Adoption of ASU 2014-09 Adjustments for As Reported Assets Accounts receivable, net $ 56,222 $ (881 ) $ 55,341 Costs capitalized to obtain revenue contracts, current 15,082 2,735 17,817 Costs capitalized to obtain revenue contracts, non-current 4,699 13,667 18,366 Liabilities Accounts payable, accrued expenses and other current liabilities 41,508 1,143 42,651 Unearned revenue, current 137,418 (1,874 ) 135,544 Stockholders' equity Accumulated other comprehensive loss (1,442 ) 14 (1,428 ) Accumulated deficit $ (317,347 ) $ 16,238 $ (301,109 ) The following table summarizes the adoption impact of the new revenue standard on line items within the consolidated statement of operations for the fiscal year ended January 31, 2019 : Fiscal year ended January 31, 2019 (in thousands) Prior to Adoption of ASU 2014-09 Adjustments for ASU 2014-09 As Reported Revenue $ 228,751 $ (468 ) $ 228,283 Cost of revenue 57,413 — 57,413 Gross profit 171,338 (468 ) 170,870 Operating expenses: Sales and marketing 168,372 (9,527 ) 158,845 Research and development 36,098 — 36,098 General and administrative 51,572 — 51,572 Total operating expenses 256,042 (9,527 ) 246,515 Loss from operations (84,704 ) 9,059 (75,645 ) Investment income 1,485 — 1,485 Interest income 72 — 72 Other expense, net (527 ) — (527 ) Loss from operations before income taxes (83,674 ) 9,059 (74,615 ) (Provision for) benefit from income taxes (222 ) — (222 ) Net loss $ (83,896 ) $ 9,059 $ (74,837 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.85 ) $ 0.09 $ (0.76 ) Selected summarized quarterly financial information for the three months ended October 31, 2018 was adjusted as follows: (In thousands) Prior to Adoption of ASU 2014-09 Adjustments Due to ASU 2014-09 As Adjusted Revenue $ 58,742 $ (129 ) $ 58,613 Gross profit $ 43,856 $ (129 ) $ 43,727 Loss from operations $ (24,838 ) $ 1,826 $ (23,012 ) Net loss $ (24,766 ) $ 1,826 $ (22,940 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.25 ) $ 0.02 $ (0.23 ) Selected summarized quarterly financial information for the three months ended July 31, 2018 was adjusted as follows: (In thousands) Prior to Adoption of ASU 2014-09 Adjustments Due to ASU 2014-09 As Adjusted Revenue $ 55,096 $ (173 ) $ 54,923 Gross profit $ 41,010 $ (173 ) $ 40,837 Loss from operations $ (21,204 ) $ 1,700 $ (19,504 ) Net loss $ (21,096 ) $ 1,700 $ (19,396 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.22 ) $ 0.02 $ (0.20 ) Selected summarized quarterly financial information for the three months ended April 30, 2018 was adjusted as follows: (In thousands) Prior to Adoption of ASU 2014-09 Adjustments Due to ASU 2014-09 As Adjusted Revenue $ 51,095 $ (107 ) $ 50,988 Gross profit $ 38,295 $ (107 ) $ 38,188 Loss from operations $ (18,001 ) $ 1,095 $ (16,906 ) Net loss $ (18,136 ) $ 1,095 $ (17,041 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.19 ) $ 0.01 $ (0.18 ) |
Accounts, notes, loans and financing receivable | The following table summarizes the allowance for doubtful accounts activity: (in thousands) Fair Value Allowance for doubtful accounts as of January 31, 2017 $ 189 Additions 478 Deductions - write offs (436 ) Allowance for doubtful accounts as of January 31, 2018 231 Additions 492 Deductions - write offs (467 ) Allowance for doubtful accounts as of January 31, 2019 $ 256 |
Investments in Marketable Sec_2
Investments in Marketable Securities (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Marketable Securities | The following table summarizes the Company's investments in marketable securities: January 31, 2019 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Commercial paper $ — $ — $ — $ — Corporate bonds 16,949 — (28 ) 16,921 U.S. treasury securities 34,112 — (12 ) 34,100 Total marketable securities $ 51,061 $ — $ (40 ) $ 51,021 January 31, 2018 (in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Commercial paper $ 10,972 $ — $ (7 ) $ 10,965 Corporate bonds 57,172 — (243 ) 56,929 U.S. treasury securities 16,150 — (70 ) 16,080 Total marketable securities $ 84,294 $ — $ (320 ) $ 83,974 |
Schedule of Investment Income | Interest income, realized gains, realized losses and other-than-temporary declines in fair value on securities available for sale are the potential components of investment income. Investment income for the periods presented consisted of the following: Fiscal year ended January 31, (in thousands) 2019 2018 2017 Interest income $ 1,485 $ 1,134 $ 34 Realized gains — 1 — Total investment income $ 1,485 $ 1,135 $ 34 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table summarizes the Company's assets that are measured at fair value on a recurring basis, by level, within the fair value hierarchy: January 31, 2019 (in thousands) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds (1) $ 42,021 $ — $ — $ 42,021 Marketable securities: Commercial paper — — — — Corporate bonds — 16,921 — 16,921 U.S. treasury securities — 34,100 — 34,100 Total assets $ 42,021 $ 51,021 $ — $ 93,042 January 31, 2018 (in thousands) Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds (1) $ 16,846 $ — $ — $ 16,846 Marketable securities: Commercial paper — 10,965 — 10,965 Corporate bonds — 56,929 — 56,929 U.S. treasury securities — 16,080 — 16,080 Total assets $ 16,846 $ 83,974 $ — $ 100,820 (1) Included in cash and cash equivalents. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets - (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | The following table summarizes the changes in goodwill: (in thousands) Fair Value Goodwill as of January 31, 2017 $ 4,444 Foreign currency translation 480 Goodwill as of January 31, 2018 4,924 Foreign currency translation (264 ) Goodwill as of January 31, 2019 $ 4,660 |
Schedule of Finite-Lived Intangible Assets | The following table summarizes the intangible asset balances: (in thousands) Gross Fair Accumulated Foreign Net Book Weighted Website development $ 904 $ (901 ) $ — $ 3 0.16 Domains 365 (51 ) — 314 12.97 Customer relationships 5,256 (1,937 ) (917 ) 2,402 3.87 Trade names and trademarks 112 (69 ) (1 ) 42 1.87 Intangible assets as of January 31, 2018 $ 6,637 $ (2,958 ) $ (918 ) $ 2,761 5.28 Website development 904 (904 ) — — 0.0 Domains 365 (75 ) — 290 11.98 Customer relationships 5,256 (2,371 ) (1,233 ) 1,652 2.87 Trade names and trademarks 112 (84 ) (10 ) 18 0.87 Intangible assets as of January 31, 2019 $ 6,637 $ (3,434 ) $ (1,243 ) $ 1,960 4.20 |
Finite-lived Intangible Assets Amortization Expense | As of January 31, 2019 , the future amortization expense of intangible assets was as follows (in thousands): Fiscal year ending January 31, 2020 $ 609 2021 590 2022 543 2023 24 2024 and thereafter 194 Total $ 1,960 |
Property and Equipment, net (Ta
Property and Equipment, net (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | Property and equipment, net consisted of the following: (in thousands) January 31, 2019 January 31, 2018 Furniture and fixtures $ 719 $ 719 Office equipment 7,662 4,636 Leasehold improvements 13,090 12,928 Computer software 6,461 4,563 Construction in progress 841 124 Total property and equipment 28,773 22,970 Less: accumulated depreciation (17,696 ) (11,532 ) Total property and equipment, net $ 11,077 $ 11,438 |
Accounts Payable, Accrued Exp_2
Accounts Payable, Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Payables and Accruals [Abstract] | |
Schedule of Accounts Payable, Accrued Expenses and Other Current Liabilities | Accounts payable, accrued expenses and other current liabilities consisted of the following: (in thousands) January 31, 2019 January 31, 2018 Accounts payable $ 8,025 $ 4,253 Accrued employee compensation 19,029 11,341 Accrued Knowledge Network application provider fees 2,508 1,860 Accrued professional services and associated costs 2,198 1,333 Accrued sales and use tax 2,206 1,846 Accrued employee stock purchase plan withholdings liability 2,635 3,750 Customer deposits 1,144 — Other current liabilities 4,906 3,033 Total accounts payable, accrued expenses and other current liabilities $ 42,651 $ 27,416 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Stock Options Activity | The following table summarizes the activity related to the Company's stock options: Options Outstanding Outstanding Stock Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (in thousands) Balance, January 31, 2018 22,512,856 $ 5.65 6.91 $ 146,471 Granted — $ — Exercised (5,900,102 ) $ 3.20 Forfeited or canceled (635,519 ) $ 6.09 Balance, January 31, 2019 15,977,235 $ 6.54 6.40 $ 144,934 Vested and expected to vest 15,932,427 $ 6.53 6.39 $ 144,545 Exercisable at January 31, 2019 10,953,453 $ 5.78 5.70 $ 107,739 |
Schedule of Nonvested Share Activity | Nonvested option activity is as follows: Options Weighted-Average Grant Date Fair Value Nonvested as of January 31, 2018 9,241,953 $ 4.06 Granted — $ — Vested (3,632,673 ) $ 3.79 Forfeited (585,498 ) $ 3.22 Balance as of January 31, 2019 5,023,782 $ 4.35 |
Schedule of Nonvested RSU Activity | The following table summarizes the activity related to the Company's restricted stock and restricted stock units: Outstanding Weighted-Average Grant Date Fair Value Balance as of January 31, 2018 4,457,585 $ 12.26 Granted - restricted stock and restricted stock units 5,458,873 $ 18.21 Vested and converted to shares (1,598,777 ) $ 13.58 Canceled (613,976 ) $ 13.94 Balance as of January 31, 2019 7,703,705 $ 16.07 |
Schedule of Employee Stock Purchase Plan Valuation Assumptions | The Black-Scholes option-pricing model assumptions used to calculate the fair value of shares estimated to be purchased under the ESPP offering periods were as follows: Fiscal year ended January 31, 2019 2018 2017 Expected life (years) 0.50 0.92 — Expected volatility 34.41% - 45.09% 38.30% — Dividend yield 0.00% 0.00% — Risk-free rate 1.95% - 2.35% 1.02% — |
Schedule of Share-Based Compensation Expense | The Company's stock-based compensation expense was as follows: Fiscal year ended January 31, (in thousands) 2019 2018 2017 Cost of revenue $ 2,915 $ 1,459 $ 590 Sales and marketing 22,519 11,121 4,359 Research and development 8,475 3,756 1,954 General and administrative 10,324 6,024 2,948 Total stock-based compensation expense $ 44,233 $ 22,360 $ 9,851 |
Schedule of Stock Options Valuation Assumptions | The fair value of the Company’s stock options granted during the fiscal years ended January 31, 2018 and 2017 were estimated using the Black-Scholes option-pricing model with the following assumptions: Fiscal year ended January 31, 2018 2017 Expected life (years) 6.08 6.25 Expected volatility 46.39% - 48.77% 52.00% Dividend yield 0.00% 0.00% Risk-free rate 1.87% - 2.70% 1.66% |
Income Taxes - (Tables)
Income Taxes - (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income before Income Tax, Domestic and Foreign | The domestic and international components of the Company's loss from operations before income taxes are as follows: Fiscal year ended January 31, (in thousands) 2019 2018 2017 Domestic $ (64,653 ) $ (58,875 ) $ (41,621 ) International (9,962 ) (7,528 ) (1,461 ) Loss from operations before income taxes $ (74,615 ) $ (66,403 ) $ (43,082 ) |
Schedule of Components of Income Tax Expense (Benefit) | The Company's (provision for) benefit from income taxes is comprised of the following: Fiscal year ended January 31, (in thousands) 2019 2018 2017 Current: Federal $ (19 ) $ — $ — State (91 ) — — International (155 ) (291 ) (37 ) Total current (265 ) (291 ) (37 ) Deferred: Federal — 100 — State — — — International 43 29 (31 ) Total deferred 43 129 (31 ) Total (provision for) benefit from income taxes $ (222 ) $ (162 ) $ (68 ) |
Schedule of Effective Income Tax Rate Reconciliation | The reconciliation is as follows: Fiscal year ended January 31, (in thousands) 2019 2018 2017 U.S. federal tax (provision) benefit at statutory rate $ 15,669 $ 21,849 $ 14,648 State taxes, net of federal (provision) benefit 6,499 1,766 990 Foreign tax rate differential 448 (637 ) (253 ) Non-deductible expenses (1,737 ) (3,503 ) (1,549 ) Change in valuation allowance (37,808 ) 1,599 (13,805 ) Rate change 7 (21,580 ) (52 ) Excess tax benefits from stock-based compensation 16,847 — — Other, net (147 ) 344 (47 ) Total (provision for) benefit from income taxes $ (222 ) $ (162 ) $ (68 ) |
Schedule of Deferred Tax Assets and Liabilities | The components of the Company's deferred income taxes were as follows: Fiscal year ended January 31, (in thousands) 2019 2018 Deferred tax assets: Net operating loss carryforwards $ 76,259 $ 39,653 Stock-based compensation 7,710 4,937 Allowance for doubtful accounts 65 58 Deferred rent 758 1,066 Accrued expenses 2,081 233 Unearned revenue 26 62 Property and equipment 414 — Intangible assets 712 330 Other 133 57 Total deferred tax assets 88,158 46,396 Less: valuation allowance (80,901 ) (43,071 ) Deferred tax assets, net of valuation allowance 7,257 3,325 Deferred tax liabilities: Prepaid expenses (57 ) (86 ) Property and equipment — (406 ) Intangible assets — (103 ) Costs to obtain revenue contracts (6,966 ) (2,763 ) Other (231 ) (12 ) Total deferred tax liabilities (7,254 ) (3,370 ) Net deferred tax asset (liability) $ 3 $ (45 ) |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Payments for Operating Leases | Future minimum annual payments under these and other contractual obligations in the normal course of business as of January 31, 2019 were as follows (in thousands): Fiscal year ending January 31: Operating Leases Application Providers and Other 2020 $ 7,494 $ 17,403 2021 6,236 4,393 2022 440 548 2023 448 23 2024 and thereafter 1,858 109 Total $ 16,476 $ 22,476 |
Schedule of Future Minimum Contractual Obligation Payments | Future minimum annual payments under these and other contractual obligations in the normal course of business as of January 31, 2019 were as follows (in thousands): Fiscal year ending January 31: Operating Leases Application Providers and Other 2020 $ 7,494 $ 17,403 2021 6,236 4,393 2022 440 548 2023 448 23 2024 and thereafter 1,858 109 Total $ 16,476 $ 22,476 |
Net Loss Per Share Attributab_2
Net Loss Per Share Attributable to Common Stockholders (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share | The following table sets forth the computation of the basic and diluted net loss per share attributable to common stockholders: Fiscal year ended January 31, (in thousands, except share and per share data) 2019 2018 2017 Numerator: Net loss attributable to common stockholders $ (74,837 ) $ (66,565 ) $ (43,150 ) Denominator: Weighted-average common shares outstanding 98,387,366 78,632,448 31,069,695 Net loss per share attributable to common stockholders, basic and diluted $ (0.76 ) $ (0.85 ) $ (1.39 ) |
Schedule of Antidilutive Securities | Anti-dilutive common equivalent shares were as follows: As of January 31, 2019 2018 2017 Convertible preferred stock as converted — — 43,594,753 Series B warrants as converted — — 67,568 Series C warrants as converted — — 43,369 Common stock warrants — — 85,000 Options to purchase common stock 15,977,235 22,512,856 27,420,108 Restricted stock and restricted stock units 7,703,705 4,457,585 330,000 Shares estimated to be purchased under ESPP 176,241 482,988 — Total anti-dilutive common equivalent shares 23,857,181 27,453,429 71,540,798 |
Selected Quarterly Financial _2
Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly financial information | Selected summarized quarterly financial information for the fiscal years ended January 31, 2019 and 2018 is as follows: Three months ended (in thousands, except per share data) Jan. 31, 2019 Oct. 31, 2018 1 Jul. 31, 2018 1 Apr. 30, 2018 1 Revenue $ 63,759 $ 58,613 $ 54,923 $ 50,988 Gross profit $ 48,118 $ 43,727 $ 40,837 $ 38,188 Loss from operations $ (16,223 ) $ (23,012 ) $ (19,504 ) $ (16,906 ) Net loss $ (15,460 ) $ (22,940 ) $ (19,396 ) $ (17,041 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.15 ) $ (0.23 ) $ (0.20 ) $ (0.18 ) Three months ended (in thousands, except per share data) Jan. 31, 2018 Oct. 31, 2017 Jul. 31, 2017 Apr. 30, 2017 Revenue $ 48,020 $ 44,332 $ 40,769 $ 37,080 Gross profit $ 35,812 $ 32,674 $ 30,228 $ 27,392 Loss from operations $ (17,503 ) $ (17,236 ) $ (16,507 ) $ (15,394 ) Net loss $ (16,998 ) $ (17,062 ) $ (16,399 ) $ (16,106 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.18 ) $ (0.19 ) $ (0.18 ) $ (0.40 ) 1 As adjusted from previously reported amounts due to the adoption of ASU 2014-09 as shown below. |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The following table presents the impact of ASU 2014-09 on the Company's consolidated balance sheet as of January 31, 2018 : As of January 31, 2018 (in thousands) As Reported Effect of ASU 2014-09 Inclusive of ASU 2014-09 Assets Accounts receivable, net $ 44,656 $ (1,183 ) $ 43,473 Costs capitalized to obtain revenue contracts, current 9,342 825 10,167 Costs capitalized to obtain revenue contracts, non-current 3,405 6,034 9,439 Liabilities Accounts payable, accrued expenses and other current liabilities 27,416 699 28,115 Unearned revenue, current 89,474 (2,204 ) 87,270 Stockholders' equity Accumulated other comprehensive loss (1,636 ) 3 (1,633 ) Accumulated deficit $ (233,450 ) $ 7,178 $ (226,272 ) The following table summarizes the adoption impact of the new revenue standard on line items within the consolidated balance sheet as of January 31, 2019 : As of January 31, 2019 (in thousands) Prior to Adoption of ASU 2014-09 Adjustments for As Reported Assets Accounts receivable, net $ 56,222 $ (881 ) $ 55,341 Costs capitalized to obtain revenue contracts, current 15,082 2,735 17,817 Costs capitalized to obtain revenue contracts, non-current 4,699 13,667 18,366 Liabilities Accounts payable, accrued expenses and other current liabilities 41,508 1,143 42,651 Unearned revenue, current 137,418 (1,874 ) 135,544 Stockholders' equity Accumulated other comprehensive loss (1,442 ) 14 (1,428 ) Accumulated deficit $ (317,347 ) $ 16,238 $ (301,109 ) The following table summarizes the adoption impact of the new revenue standard on line items within the consolidated statement of operations for the fiscal year ended January 31, 2019 : Fiscal year ended January 31, 2019 (in thousands) Prior to Adoption of ASU 2014-09 Adjustments for ASU 2014-09 As Reported Revenue $ 228,751 $ (468 ) $ 228,283 Cost of revenue 57,413 — 57,413 Gross profit 171,338 (468 ) 170,870 Operating expenses: Sales and marketing 168,372 (9,527 ) 158,845 Research and development 36,098 — 36,098 General and administrative 51,572 — 51,572 Total operating expenses 256,042 (9,527 ) 246,515 Loss from operations (84,704 ) 9,059 (75,645 ) Investment income 1,485 — 1,485 Interest income 72 — 72 Other expense, net (527 ) — (527 ) Loss from operations before income taxes (83,674 ) 9,059 (74,615 ) (Provision for) benefit from income taxes (222 ) — (222 ) Net loss $ (83,896 ) $ 9,059 $ (74,837 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.85 ) $ 0.09 $ (0.76 ) Selected summarized quarterly financial information for the three months ended October 31, 2018 was adjusted as follows: (In thousands) Prior to Adoption of ASU 2014-09 Adjustments Due to ASU 2014-09 As Adjusted Revenue $ 58,742 $ (129 ) $ 58,613 Gross profit $ 43,856 $ (129 ) $ 43,727 Loss from operations $ (24,838 ) $ 1,826 $ (23,012 ) Net loss $ (24,766 ) $ 1,826 $ (22,940 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.25 ) $ 0.02 $ (0.23 ) Selected summarized quarterly financial information for the three months ended July 31, 2018 was adjusted as follows: (In thousands) Prior to Adoption of ASU 2014-09 Adjustments Due to ASU 2014-09 As Adjusted Revenue $ 55,096 $ (173 ) $ 54,923 Gross profit $ 41,010 $ (173 ) $ 40,837 Loss from operations $ (21,204 ) $ 1,700 $ (19,504 ) Net loss $ (21,096 ) $ 1,700 $ (19,396 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.22 ) $ 0.02 $ (0.20 ) Selected summarized quarterly financial information for the three months ended April 30, 2018 was adjusted as follows: (In thousands) Prior to Adoption of ASU 2014-09 Adjustments Due to ASU 2014-09 As Adjusted Revenue $ 51,095 $ (107 ) $ 50,988 Gross profit $ 38,295 $ (107 ) $ 38,188 Loss from operations $ (18,001 ) $ 1,095 $ (16,906 ) Net loss $ (18,136 ) $ 1,095 $ (17,041 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.19 ) $ 0.01 $ (0.18 ) |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | The following table presents the Company's revenue by geographic region: Fiscal year ended January 31, (in thousands) 2019 2018 2017 North America $ 197,285 $ 155,966 $ 118,754 International 30,998 14,235 5,507 Total revenue $ 228,283 $ 170,201 $ 124,261 |
Organization and Description _2
Organization and Description of Business (Details) | Jan. 31, 2019Provider |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of service and application providers | 150 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands | Jan. 31, 2018USD ($)customer | Apr. 30, 2017shares | Jan. 31, 2019USD ($)segment | Jan. 31, 2018USD ($)customer | Jan. 31, 2017USD ($) | Jan. 31, 2016USD ($) | Feb. 01, 2018USD ($) |
Concentration Risk [Line Items] | |||||||
Number of operating segments | segment | 1 | ||||||
Costs capitalized to obtain revenue contracts, gross | $ 31,600 | ||||||
Costs capitalized to obtain revenue contracts, amortization | (15,000) | ||||||
Costs capitalized to obtain revenue contracts | 36,200 | ||||||
Cost of revenues, depreciation and amortization | 3,500 | $ 1,900 | $ 1,100 | ||||
Advertising expenses | 6,100 | 7,300 | 4,700 | ||||
Research and development costs | 36,098 | 25,687 | $ 19,316 | ||||
Capitalized computer software, amortization | 2,200 | 1,200 | $ 400 | ||||
Capitalized software development costs | $ 2,900 | $ 2,600 | $ 2,900 | ||||
Customer Concentration Risk | Accounts Receivable | |||||||
Concentration Risk [Line Items] | |||||||
Number of credit risk derivatives held | customer | 1 | 1 | |||||
Concentration risk, percentage | 12.00% | 10.00% | |||||
Customer Concentration Risk | Sales Revenue, Net | |||||||
Concentration Risk [Line Items] | |||||||
Number of credit risk derivatives held | customer | 0 | 0 | |||||
Minimum | |||||||
Concentration Risk [Line Items] | |||||||
Useful life | 3 years | ||||||
Maximum | |||||||
Concentration Risk [Line Items] | |||||||
Useful life | 15 years | ||||||
Software Development | Minimum | |||||||
Concentration Risk [Line Items] | |||||||
Useful life | 2 years | ||||||
Software Development | Maximum | |||||||
Concentration Risk [Line Items] | |||||||
Useful life | 3 years | ||||||
Restricted Stock Units (RSUs) | Minimum | |||||||
Concentration Risk [Line Items] | |||||||
Award requisite service period | 1 year | ||||||
Restricted Stock Units (RSUs) | Maximum | |||||||
Concentration Risk [Line Items] | |||||||
Award requisite service period | 4 years | ||||||
Employee Stock Option | |||||||
Concentration Risk [Line Items] | |||||||
Award requisite service period | 4 years | ||||||
Common Stock | |||||||
Concentration Risk [Line Items] | |||||||
Convertible preferred stock automatically converted into warrants exercisable (in shares) | shares | 110,937 | ||||||
Accounting Standards Update 2016-09 | |||||||
Concentration Risk [Line Items] | |||||||
Increase in deferred income tax assets | $ 30,200 | ||||||
Furniture and fixtures | |||||||
Concentration Risk [Line Items] | |||||||
Property and equipment, useful life | 5 years | ||||||
Office and computer equipment | Minimum | |||||||
Concentration Risk [Line Items] | |||||||
Property and equipment, useful life | 2 years | ||||||
Office and computer equipment | Maximum | |||||||
Concentration Risk [Line Items] | |||||||
Property and equipment, useful life | 3 years | ||||||
Internal-use software | Minimum | |||||||
Concentration Risk [Line Items] | |||||||
Property and equipment, useful life | 2 years | ||||||
Internal-use software | Maximum | |||||||
Concentration Risk [Line Items] | |||||||
Property and equipment, useful life | 3 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies Schedule of Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||
Allowance for doubtful accounts receivable, beginning of the period | $ 231 | $ 189 | |
Additions | 492 | 478 | $ 653 |
Deductions - write offs | (467) | (436) | |
Allowance for doubtful accounts receivable, end of the period | $ 256 | $ 231 | $ 189 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Impact of ASU 2014-09 on the Consolidated Balance Sheet (Details) - USD ($) $ in Thousands | Jan. 31, 2019 | Jan. 31, 2018 |
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Accounts receivable, net of allowances of $256 and $231, respectively | $ 55,341 | $ 44,656 |
Costs to obtain revenue contracts, current | 17,817 | 9,342 |
Costs to obtain revenue contracts, non-current | 18,366 | 3,405 |
Accounts payable, accrued expenses and other current liabilities | 42,651 | 27,416 |
Unearned revenue, current | 135,544 | 89,474 |
Accumulated other comprehensive loss | (1,428) | (1,636) |
Accumulated deficit | (301,109) | (233,450) |
Prior to Adoption of ASU 2014-09 | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Accounts receivable, net of allowances of $256 and $231, respectively | 56,222 | |
Costs to obtain revenue contracts, current | 15,082 | |
Costs to obtain revenue contracts, non-current | 4,699 | |
Accounts payable, accrued expenses and other current liabilities | 41,508 | |
Unearned revenue, current | 137,418 | |
Accumulated other comprehensive loss | (1,442) | |
Accumulated deficit | (317,347) | |
Accounting Standards Update 2014-09 | Adjustments for ASU 2014-09 | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Accounts receivable, net of allowances of $256 and $231, respectively | (881) | |
Costs to obtain revenue contracts, current | 2,735 | |
Costs to obtain revenue contracts, non-current | 13,667 | |
Accounts payable, accrued expenses and other current liabilities | 1,143 | |
Unearned revenue, current | (1,874) | |
Accumulated other comprehensive loss | 14 | |
Accumulated deficit | $ 16,238 | |
Pro Forma | Accounting Standards Update 2014-09 | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Accounts receivable, net of allowances of $256 and $231, respectively | 43,473 | |
Costs to obtain revenue contracts, current | 10,167 | |
Costs to obtain revenue contracts, non-current | 9,439 | |
Accounts payable, accrued expenses and other current liabilities | 28,115 | |
Unearned revenue, current | 87,270 | |
Accumulated other comprehensive loss | (1,633) | |
Accumulated deficit | (226,272) | |
Pro Forma | Accounting Standards Update 2014-09 | Adjustments for ASU 2014-09 | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Accounts receivable, net of allowances of $256 and $231, respectively | (1,183) | |
Costs to obtain revenue contracts, current | 825 | |
Costs to obtain revenue contracts, non-current | 6,034 | |
Accounts payable, accrued expenses and other current liabilities | 699 | |
Unearned revenue, current | (2,204) | |
Accumulated other comprehensive loss | 3 | |
Accumulated deficit | $ 7,178 |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Impact of the New Revenue Standard on Consolidated Statement of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Jan. 31, 2019 | Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Jan. 31, 2018 | Oct. 31, 2017 | Jul. 31, 2017 | Apr. 30, 2017 | Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | Jan. 31, 2016 | |
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||||||||||
Revenue | $ 63,759 | $ 58,613 | $ 54,923 | $ 50,988 | $ 48,020 | $ 44,332 | $ 40,769 | $ 37,080 | $ 228,283 | $ 170,201 | $ 124,261 | |
Cost of revenue | 57,413 | 44,095 | 36,950 | |||||||||
Gross profit | 48,118 | 43,727 | 40,837 | 38,188 | 35,812 | 32,674 | 30,228 | 27,392 | 170,870 | 126,106 | 87,311 | |
Sales and marketing | 158,845 | 126,980 | 81,529 | |||||||||
Research and development | 36,098 | 25,687 | 19,316 | |||||||||
General and administrative | 51,572 | 40,079 | 29,166 | |||||||||
Total operating expenses | 246,515 | 192,746 | 130,011 | |||||||||
Loss from operations | (16,223) | (23,012) | (19,504) | (16,906) | (17,503) | (17,236) | (16,507) | (15,394) | (75,645) | (66,640) | (42,700) | |
Investment income | 1,485 | 1,135 | 34 | $ 34 | ||||||||
Interest income (expense) | 72 | (359) | (150) | |||||||||
Other expense, net | (527) | (539) | (266) | |||||||||
Loss from operations before income taxes | (74,615) | (66,403) | (43,082) | |||||||||
(Provision for) benefit from income taxes | (222) | (162) | (68) | |||||||||
Net loss | $ (15,460) | $ (22,940) | $ (19,396) | $ (17,041) | $ (16,998) | $ (17,062) | $ (16,399) | $ (16,106) | $ (74,837) | $ (66,565) | $ (43,150) | |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (0.15) | $ (0.23) | $ (0.20) | $ (0.18) | $ (0.18) | $ (0.19) | $ (0.18) | $ (0.40) | $ (0.76) | $ (0.85) | $ (1.39) | |
Prior to Adoption of ASU 2014-09 | ||||||||||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||||||||||
Revenue | $ 58,742 | $ 55,096 | $ 51,095 | $ 228,751 | ||||||||
Cost of revenue | 57,413 | |||||||||||
Gross profit | 43,856 | 41,010 | 38,295 | 171,338 | ||||||||
Sales and marketing | 168,372 | |||||||||||
Research and development | 36,098 | |||||||||||
General and administrative | 51,572 | |||||||||||
Total operating expenses | 256,042 | |||||||||||
Loss from operations | (24,838) | (21,204) | (18,001) | (84,704) | ||||||||
Investment income | 1,485 | |||||||||||
Interest income (expense) | 72 | |||||||||||
Other expense, net | (527) | |||||||||||
Loss from operations before income taxes | (83,674) | |||||||||||
(Provision for) benefit from income taxes | (222) | |||||||||||
Net loss | $ (24,766) | $ (21,096) | $ (18,136) | $ (83,896) | ||||||||
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (0.25) | $ (0.22) | $ (0.19) | $ (0.85) | ||||||||
Accounting Standards Update 2014-09 | Adjustments for ASU 2014-09 | ||||||||||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||||||||||
Revenue | $ (129) | $ (173) | $ (107) | $ (468) | ||||||||
Cost of revenue | 0 | |||||||||||
Gross profit | (129) | (173) | (107) | (468) | ||||||||
Sales and marketing | (9,527) | |||||||||||
Research and development | 0 | |||||||||||
General and administrative | 0 | |||||||||||
Total operating expenses | (9,527) | |||||||||||
Loss from operations | 1,826 | 1,700 | 1,095 | 9,059 | ||||||||
Investment income | 0 | |||||||||||
Interest income (expense) | 0 | |||||||||||
Other expense, net | 0 | |||||||||||
Loss from operations before income taxes | 9,059 | |||||||||||
(Provision for) benefit from income taxes | 0 | |||||||||||
Net loss | $ 1,826 | $ 1,700 | $ 1,095 | $ 9,059 | ||||||||
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ 0.02 | $ 0.02 | $ 0.01 | $ 0.09 |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Impact on Statements of Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Net cash used in operating activities | $ 5,240 | $ (32,409) | $ (13,532) |
Net cash used in investing activities | 28,134 | (88,123) | (3,803) |
Net cash provided by financing activities | 24,384 | 129,604 | 5,968 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (370) | 375 | (30) |
Net increase (decrease) in cash, cash equivalents and restricted cash | 57,388 | 9,447 | (11,397) |
Cash, cash equivalents and restricted cash at beginning of period | 34,367 | 24,920 | 36,317 |
Cash, cash equivalents and restricted cash at end of period | 91,755 | 34,367 | 24,920 |
As Previously Reported | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Net cash used in operating activities | (31,909) | (7,743) | |
Net cash used in investing activities | (88,123) | (3,803) | |
Net cash provided by financing activities | 129,604 | 5,968 | |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | 375 | (30) | |
Net increase (decrease) in cash, cash equivalents and restricted cash | 9,947 | (5,608) | |
Cash, cash equivalents and restricted cash at beginning of period | 34,367 | 24,420 | 30,028 |
Cash, cash equivalents and restricted cash at end of period | 34,367 | 24,420 | |
Restatement Adjustment | Accounting Standards Update 2016-09 | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Net cash used in operating activities | (500) | (5,789) | |
Net cash used in investing activities | 0 | 0 | |
Net cash provided by financing activities | 0 | 0 | |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | 0 | 0 | |
Net increase (decrease) in cash, cash equivalents and restricted cash | (500) | (5,789) | |
Cash, cash equivalents and restricted cash at beginning of period | $ 0 | 500 | 6,289 |
Cash, cash equivalents and restricted cash at end of period | $ 0 | $ 500 |
Investments in Marketable Sec_3
Investments in Marketable Securities - Investments at Amortized Cost and Fair Value (Details) - USD ($) | 12 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | |
Gain (Loss) on Securities [Line Items] | ||
Amortized Cost | $ 51,061,000 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | 40,000 | |
Fair Value | 51,021,000 | |
Marketable securities | 51,021,000 | $ 83,974,000 |
ASU 2016-01 Transition [Abstract] | ||
Amortized Cost | 84,294,000 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | (320,000) | |
Fair Value | 83,974,000 | |
Marketable securities held in a continuous unrealized loss position for more than 12 months | 18,900,000 | 0 |
Marketable securities held in a continuous unrealized loss position for more than 12 months, accumulated loss | $ 0 | |
Marketable securities, contractual maturity (in years) | 2 years | |
Commercial paper | ||
Gain (Loss) on Securities [Line Items] | ||
Amortized Cost | $ 0 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | 0 | |
Fair Value | 0 | |
ASU 2016-01 Transition [Abstract] | ||
Amortized Cost | 10,972,000 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | (7,000) | |
Fair Value | 10,965,000 | |
Corporate bonds | ||
Gain (Loss) on Securities [Line Items] | ||
Amortized Cost | 16,949,000 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | 28,000 | |
Fair Value | 16,921,000 | |
ASU 2016-01 Transition [Abstract] | ||
Amortized Cost | 57,172,000 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | (243,000) | |
Fair Value | 56,929,000 | |
U.S. treasury securities | ||
Gain (Loss) on Securities [Line Items] | ||
Amortized Cost | 34,112,000 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | 12,000 | |
Fair Value | $ 34,100,000 | |
ASU 2016-01 Transition [Abstract] | ||
Amortized Cost | 16,150,000 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | (70,000) | |
Fair Value | $ 16,080,000 |
Investments in Marketable Sec_4
Investments in Marketable Securities - Investment Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | Jan. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Interest income | $ 1,485 | $ 1,134 | $ 34 | |
Realized gains | 0 | 1 | 0 | |
Total investment income | $ 1,485 | $ 1,135 | $ 34 | $ 34 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jan. 31, 2019 | Jan. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities: | $ 51,021 | |
Marketable securities: | $ 83,974 | |
Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities: | 0 | |
Marketable securities: | 10,965 | |
Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities: | 16,921 | |
Marketable securities: | 56,929 | |
U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities: | 34,100 | |
Marketable securities: | 16,080 | |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 93,042 | 100,820 |
Recurring | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities: | 0 | |
Marketable securities: | 10,965 | |
Recurring | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities: | 16,921 | |
Marketable securities: | 56,929 | |
Recurring | U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities: | 34,100 | |
Marketable securities: | 16,080 | |
Recurring | Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 42,021 | 16,846 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 42,021 | 16,846 |
Recurring | Level 1 | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities: | 0 | |
Marketable securities: | 0 | |
Recurring | Level 1 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities: | 0 | |
Marketable securities: | 0 | |
Recurring | Level 1 | U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities: | 0 | |
Marketable securities: | 0 | |
Recurring | Level 1 | Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 42,021 | 16,846 |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 51,021 | 83,974 |
Recurring | Level 2 | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities: | 0 | |
Marketable securities: | 10,965 | |
Recurring | Level 2 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities: | 16,921 | |
Marketable securities: | 56,929 | |
Recurring | Level 2 | U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities: | 34,100 | |
Marketable securities: | 16,080 | |
Recurring | Level 2 | Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | 0 |
Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 0 | 0 |
Recurring | Level 3 | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities: | 0 | |
Marketable securities: | 0 | |
Recurring | Level 3 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities: | 0 | |
Marketable securities: | 0 | |
Recurring | Level 3 | U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities: | 0 | |
Marketable securities: | 0 | |
Recurring | Level 3 | Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | $ 0 | $ 0 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets (Details) $ in Millions | 12 Months Ended | ||
Jan. 31, 2019USD ($)segment | Jan. 31, 2018USD ($) | Jan. 31, 2016USD ($) | |
Finite-Lived Intangible Assets [Line Items] | |||
Number of operating segments | segment | 1 | ||
Amortization of intangible assets | $ | $ 0.6 | $ 0.7 | $ 0.8 |
Minimum | |||
Finite-Lived Intangible Assets [Line Items] | |||
Useful life | 3 years | ||
Maximum | |||
Finite-Lived Intangible Assets [Line Items] | |||
Useful life | 15 years |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets Changes in Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | |
Goodwill [Roll Forward] | ||
Goodwill, balance at the beginning of period | $ 4,924 | $ 4,444 |
Goodwill, Foreign Currency Translation Gain (Loss) | (264) | (480) |
Goodwill, balance at the end of period | $ 4,660 | $ 4,924 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets Summary of the other intangible asset balances (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Fair Value | $ 6,637 | $ 6,637 |
Accumulated Amortization | (3,434) | (2,958) |
Foreign Currency Impact | (1,243) | (918) |
Intangible assets, net | $ 1,960 | $ 2,761 |
Weighted Average Remaining Useful Life | 4 years 2 months 12 days | 5 years 3 months 11 days |
Website development | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Fair Value | $ 904 | $ 904 |
Accumulated Amortization | (904) | (901) |
Foreign Currency Impact | 0 | 0 |
Intangible assets, net | $ 0 | $ 3 |
Weighted Average Remaining Useful Life | 0 days | 1 month 28 days |
Domains | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Fair Value | $ 365 | $ 365 |
Accumulated Amortization | (75) | (51) |
Foreign Currency Impact | 0 | 0 |
Intangible assets, net | $ 290 | $ 314 |
Weighted Average Remaining Useful Life | 11 years 11 months 23 days | 12 years 11 months 19 days |
Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Fair Value | $ 5,256 | $ 5,256 |
Accumulated Amortization | (2,371) | (1,937) |
Foreign Currency Impact | (1,233) | (917) |
Intangible assets, net | $ 1,652 | $ 2,402 |
Weighted Average Remaining Useful Life | 2 years 10 months 13 days | 3 years 10 months 13 days |
Trade names and trademarks | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Fair Value | $ 112 | $ 112 |
Accumulated Amortization | (84) | (69) |
Foreign Currency Impact | (10) | (1) |
Intangible assets, net | $ 18 | $ 42 |
Weighted Average Remaining Useful Life | 10 months 13 days | 1 year 10 months 13 days |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets Intangible Assets - Future Amortization (Details) - USD ($) $ in Thousands | Jan. 31, 2019 | Jan. 31, 2018 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2020 | $ 609 | |
2021 | 590 | |
2022 | 543 | |
2023 | 24 | |
2024 and thereafter | 194 | |
Intangible assets, net | $ 1,960 | $ 2,761 |
Property and Equipment, net (De
Property and Equipment, net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2016 | |
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | $ 28,773 | $ 22,970 | |
Less: accumulated depreciation | (17,696) | (11,532) | |
Total property and equipment, net | 11,077 | 11,438 | |
Depreciation | 6,200 | 4,400 | $ 3,300 |
Furniture and fixtures | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | 719 | 719 | |
Office equipment | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | 7,662 | 4,636 | |
Leasehold improvements | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | 13,090 | 12,928 | |
Computer software | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | 6,461 | 4,563 | |
Construction in progress | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | $ 841 | $ 124 |
Accounts Payable, Accrued Exp_3
Accounts Payable, Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2019 | Jan. 31, 2018 |
Payables and Accruals [Abstract] | ||
Accounts payable | $ 8,025 | $ 4,253 |
Accrued employee compensation | 19,029 | 11,341 |
Accrued Knowledge Network application provider fees | 2,508 | 1,860 |
Accrued professional services and associated costs | 2,198 | 1,333 |
Accrued sales and use tax | 2,206 | 1,846 |
Accrued employee stock purchase plan withholdings liability | 2,635 | 3,750 |
Customer deposits | 1,144 | 0 |
Other current liabilities | 4,906 | 3,033 |
Total accounts payable, accrued expenses and other current liabilities | $ 42,651 | $ 27,416 |
Stock-Based Compensation - Plan
Stock-Based Compensation - Plans (Details) - shares | 1 Months Ended | 12 Months Ended | ||
Dec. 31, 2016 | Jan. 31, 2019 | Feb. 01, 2018 | Mar. 10, 2016 | |
2008 Equity Incentive Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares authorized (in shares) | 25,912,531 | |||
2008 Equity Incentive Plan | Employee Stock Option | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award expiration period | 10 years | |||
Award vesting period | 4 years | |||
2016 Equity Incentive Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares authorized (in shares) | 10,000,000 | |||
Percentage of outstanding shares | 4.00% | |||
Number of shares authorized, annual increase | 3,759,077 | |||
Number of shares available for futures issuance (in shares) | 1,220,572 |
Stock-Based Compensation - Stoc
Stock-Based Compensation - Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2016 | |
Outstanding Stock Options | |||
Balance, January 31, 2017 (in shares) | 22,512,856 | ||
Options granted (in shares) | 0 | ||
Options exercised (in shares) | (5,900,102) | ||
Options forfeited (in shares) | (635,519) | ||
Balance, January 31, 2018 (in shares) | 15,977,235 | 22,512,856 | |
Vested and expected to vest at January 31, 2018 (in shares) | 15,932,427 | ||
Exercisable at January 31, 2018 (in shares) | 10,953,453 | ||
Weighted-Average Exercise Price (in dollars per share): | |||
Balance, January 31, 2017 (in dollars per share) | $ 5.65 | ||
Options granted (in dollars per share) | 0 | ||
Options exercised (in dollars per share) | 3.20 | ||
Options forfeited (in dollars per share) | 6.09 | ||
Balance, January 31, 2018 (in dollars per share) | 6.54 | $ 5.65 | |
Vested and expected to vest at January 31, 2018 (in dollars per share) | 6.53 | ||
Exercisable at January 31, 2018 (in dollars per share) | $ 5.78 | ||
Weighted-Average Remaining Contractual Life (in years) | 6 years 4 months 24 days | 6 years 10 months 28 days | |
Vested and expected to vest at January 31, 2018, Weighted-Average Contractual Life (in years) | 6 years 4 months 21 days | ||
Exercisable at January 31, 2018, Weighted-Average Contractual Life (in years) | 5 years 8 months 12 days | ||
Aggregate Intrinsic Value | $ 144,934 | $ 146,471 | |
Vested and expected to vest at January 31, 2018, Aggregate Intrinsic Value | 144,545 | ||
Exercisable at January 31, 2018, Aggregate Intrinsic Value | 107,739 | ||
Options exercised, intrinsic value | $ 79,400 | $ 60,300 | $ 2,800 |
Options granted, weighted-average grant date fair value (in dollars per share) | $ 0 | $ 5.79 | $ 3.57 |
Stock-Based Compensation - Nonv
Stock-Based Compensation - Nonvested Stock Options (Details) - $ / shares | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares [Roll Forward] | |||
Options, nonvested, number of shares, beginning of the period | 9,241,953 | ||
Options granted (in shares) | 0 | ||
Options vested (in shares) | (3,632,673) | ||
Options forfeited (in shares) | (585,498) | ||
Options, nonvested, number of shares, end of the period | 5,023,782 | 9,241,953 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |||
Nonvested, options, weighted-average grant date fair value (in dollars per share), beginning of period | $ 4.06 | ||
Options granted, weighted-average grant date fair value (in dollars per share) | 0 | $ 5.79 | $ 3.57 |
Options vested, weighted-average grant date fair value (in dollars per share) | 3.79 | ||
Options forfeited, weighted-average grant date fair value (in dollars per share) | 3.22 | ||
Nonvested, options, weighted-average grant date fair value (in dollars per share), end of period | $ 4.35 | $ 4.06 |
Stock-Based Compensation - Rest
Stock-Based Compensation - Restricted Stock (Details) - Restricted stock and restricted stock units | 12 Months Ended |
Jan. 31, 2019$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Balance as of January 31, 2017 (in shares) | shares | 4,457,585 |
Granted - restricted stock and restricted stock units (in shares) | shares | 5,458,873 |
Vested and converted to shares (in shares) | shares | (1,598,777) |
Canceled (in shares) | shares | (613,976) |
Balance as of January 31, 2018 (in shares) | shares | 7,703,705 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Balance as of January 31, 2017 (in dollars per share) | $ / shares | $ 12.26 |
Granted - restricted stock and restricted stock units (in dollars per share) | $ / shares | 18.21 |
Vested and converted to shares (in dollars per share) | $ / shares | 13.58 |
Canceled (in dollars per share) | $ / shares | 13.94 |
Balance as of January 31, 2018 (in dollars per share) | $ / shares | $ 16.07 |
Stock-Based Compensation - Empl
Stock-Based Compensation - Employee Stock Purchase Plan (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 11 Months Ended | 12 Months Ended | |||||
Sep. 17, 2018 | Mar. 15, 2018 | Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | Jan. 31, 2016 | Feb. 01, 2018 | Mar. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Issuance of common stock under employee stock purchase plan | $ 6,778 | |||||||
Stock-based compensation expense | 44,233 | $ 22,360 | $ 9,851 | |||||
Unrecognized compensation cost | $ 132,600 | |||||||
Unrecognized compensation cost, period for recognition | 3 years 1 month 13 days | |||||||
Shares committed under 2017 ESPP | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Number of shares authorized, annual increase | 939,769 | 2,500,000 | ||||||
Number of shares authorized, annual increase, percentage of outstanding shares at the end of prior fiscal year | 1.00% | |||||||
Number of shares authorized (in shares) | 1,746,085 | |||||||
Issuance of common stock under employee stock purchase plan (in shares) | 437,527 | |||||||
Shares purchased under plan (in dollars per share) | $ 10.49 | $ 9.35 | ||||||
Issuance of common stock under employee stock purchase plan | $ 2,700 | $ 4,100 | ||||||
Number of shares purchased under plan (in shares) | 256,157 | |||||||
Common stock withheld on behalf of employees for future purchases under the ESPP | 2,600,000 | |||||||
Stock-based compensation expense | $ 2,100 | $ 1,300 | $ 0 | |||||
Unrecognized compensation cost | $ 300 | |||||||
Unrecognized compensation cost, period for recognition | 1 month 13 days | |||||||
Maximum payroll deduction (as a percent of eligible compensation) | 15.00% | |||||||
Purchase price of common stock (as a percent) | 85.00% | |||||||
Shares committed under 2017 ESPP | Pro Forma | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Number of shares purchased under plan (in shares) | 176,241 |
Stock-Based Compensation - St_2
Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | Jan. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Total stock-based compensation expense | $ 44,233 | $ 22,360 | $ 9,851 | |
Stock-based compensation related to internal-use software development (less than $0.1 million in the six months ended June 30, 2016) | 700 | 400 | $ 100 | |
Unrecognized compensation cost | $ 132,600 | |||
Unrecognized compensation cost, period for recognition | 3 years 1 month 13 days | |||
Cost of revenue | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Total stock-based compensation expense | $ 2,915 | 1,459 | 590 | |
Sales and marketing | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Total stock-based compensation expense | 22,519 | 11,121 | 4,359 | |
Research and development | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Total stock-based compensation expense | 8,475 | 3,756 | 1,954 | |
General and administrative | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Total stock-based compensation expense | $ 10,324 | $ 6,024 | $ 2,948 |
Stock-Based Compensation - Valu
Stock-Based Compensation - Valuation Assumptions (Details) | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Shares committed under 2017 ESPP | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected life (years) | 6 months | 11 months 1 day | 0 years |
Expected volatility | 38.30% | 0.00% | |
Expected volatility, minimum | 34.41% | ||
Expected volatility, maximum | 45.09% | ||
Dividend yield | 0.00% | 0.00% | 0.00% |
Risk-free rate | 1.02% | 0.00% | |
Risk-free rate, minimum | 1.95% | ||
Risk-free rate, maximum | 2.35% | ||
Employee Stock Option | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected life (years) | 6 years 29 days | 6 years 3 months | |
Expected volatility | 52.00% | ||
Expected volatility, minimum | 46.39% | ||
Expected volatility, maximum | 48.77% | ||
Dividend yield | 0.00% | 0.00% | |
Risk-free rate | 1.66% | ||
Risk-free rate, minimum | 1.87% | ||
Risk-free rate, maximum | 2.70% |
Equity (Details)
Equity (Details) $ / shares in Units, $ in Thousands | Apr. 19, 2017USD ($) | Apr. 30, 2017shares | Jan. 31, 2019USD ($)vote$ / sharesshares | Jan. 31, 2018USD ($)vote$ / sharesshares | Jan. 31, 2017USD ($) | Apr. 30, 2018$ / sharesshares |
Class of Stock [Line Items] | ||||||
Change in fair value of convertible preferred stock warrant liability | $ | $ 500 | $ 0 | $ 491 | $ 253 | ||
Conversion of preferred stock warrants to common stock warrants | $ | $ 1,400 | $ 1,435 | ||||
Preferred stock shares authorized (in shares) | 50,000,000 | 50,000,000 | 50,000,000 | |||
Preferred stock par value (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | |||
Preferred stock shares issued (in shares) | 0 | 0 | ||||
Preferred stock shares outstanding (in shares) | 0 | 0 | ||||
Common stock shares authorized (in shares) | 500,000,000 | 500,000,000 | ||||
Common stock par value (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 | ||||
Common stock number of votes per share | vote | 1 | 1 | ||||
Treasury stock (in shares) | 6,505,334 | 6,505,334 | ||||
Treasury stock | $ | $ 11,905 | $ 11,905 | ||||
Common Stock | ||||||
Class of Stock [Line Items] | ||||||
Conversion of preferred stock (in shares) | 43,594,753 | |||||
Common Stock | ||||||
Class of Stock [Line Items] | ||||||
Convertible preferred stock automatically converted into warrants exercisable (in shares) | 110,937 |
Debt (Details)
Debt (Details) - Line of Credit - USD ($) | Mar. 16, 2016 | Feb. 28, 2019 | Jan. 31, 2019 |
Letter of Credit | |||
Line of Credit Facility [Line Items] | |||
Debt instrument, collateral amount | $ 5,300,000 | ||
Silicon Valley Bank | |||
Line of Credit Facility [Line Items] | |||
Covenant terms, minimum adjusted quick ratio | 1.25 | ||
Silicon Valley Bank | Revolving Credit Line | |||
Line of Credit Facility [Line Items] | |||
Borrowing capacity | $ 15,000,000 | ||
Commitment fee, percentage | 0.25% | ||
Remaining borrowing capacity | $ 15,000,000 | ||
Silicon Valley Bank | Letter of Credit | |||
Line of Credit Facility [Line Items] | |||
Borrowing capacity | $ 7,000,000 | ||
Commitment fee, percentage | 1.75% | ||
Prime Rate | Silicon Valley Bank | Revolving Credit Line | |||
Line of Credit Facility [Line Items] | |||
Basis spread on variable rate | 0.50% | ||
Subsequent Event | Letter of Credit | |||
Line of Credit Facility [Line Items] | |||
Remaining borrowing capacity | $ 300,000 | ||
Debt instrument, collateral amount | $ 1,400,000 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Operating Loss Carryforwards [Line Items] | |||
Effective income tax rate reconciliation, change in enacted tax rate, amount | $ (7) | $ 21,580 | $ 52 |
Valuation allowance, DTA, increase (decrease), amount | 37,800 | (1,500) | |
Deferred tax assets, valuation allowance | 80,901 | 43,071 | $ 44,600 |
Undistributed earnings of foreign subsidiaries | 100 | 500 | |
Unrecognized tax benefits, income tax penalties and interest expense | 100 | 100 | |
Unrecognized tax benefits | 200 | $ 200 | |
Domestic Tax Authority [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss carryforwards | 290,400 | ||
State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss carryforwards | 11,000 | ||
Foreign Tax Authority [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss carryforwards | $ 4,200 |
Income Taxes Domestic and inter
Income Taxes Domestic and international components of the loss from operations before income taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Domestic | $ (64,653) | $ (58,875) | $ (41,621) |
International | (9,962) | (7,528) | (1,461) |
Loss from operations before income taxes | $ (74,615) | $ (66,403) | $ (43,082) |
Income Taxes Provision_Benefit
Income Taxes Provision/Benefit Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Current: | |||
Federal | $ (19) | $ 0 | $ 0 |
State | (91) | 0 | 0 |
International | (155) | (291) | (37) |
Total current | (265) | (291) | (37) |
Deferred: | |||
Federal | 0 | 100 | 0 |
State | 0 | 0 | 0 |
International | 43 | 29 | (31) |
Total deferred | 43 | 129 | (31) |
Total (provision for) benefit from income taxes | $ (222) | $ (162) | $ (68) |
Income Taxes Effective Tax Rate
Income Taxes Effective Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
U.S. federal tax (provision) benefit at statutory rate | $ 15,669 | $ 21,849 | $ 14,648 |
State taxes, net of federal (provision) benefit | 6,499 | 1,766 | 990 |
Foreign tax rate differential | 448 | (637) | (253) |
Non-deductible expenses | (1,737) | (3,503) | (1,549) |
Change in valuation allowance | (37,808) | 1,599 | (13,805) |
Rate change | 7 | (21,580) | (52) |
Excess tax benefits from stock-based compensation | 16,847 | 0 | 0 |
Other, net | (147) | 344 | (47) |
Total (provision for) benefit from income taxes | $ (222) | $ (162) | $ (68) |
Income Taxes Deferred Tax Asset
Income Taxes Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 |
Deferred tax assets: | |||
Net operating loss carryforwards | $ 76,259 | $ 39,653 | |
Stock-based compensation | 7,710 | 4,937 | |
Allowance for doubtful accounts | 65 | 58 | |
Deferred rent | 758 | 1,066 | |
Accrued expenses | 2,081 | 233 | |
Unearned revenue | 26 | 62 | |
Property and equipment | 414 | 0 | |
Intangible assets | 712 | 330 | |
Other | 133 | 57 | |
Total deferred tax assets | 88,158 | 46,396 | |
Less: valuation allowance | (80,901) | (43,071) | $ (44,600) |
Deferred tax assets, net of valuation allowance | 7,257 | 3,325 | |
Deferred tax liabilities: | |||
Prepaid expenses | (57) | (86) | |
Property and equipment | 0 | (406) | |
Intangible assets | 0 | (103) | |
Costs to obtain revenue contracts | (6,966) | (2,763) | |
Other | (231) | (12) | |
Total deferred tax liabilities | (7,254) | (3,370) | |
Net deferred tax asset (liability) | $ 3 | ||
Net deferred tax asset (liability) | $ (45) |
Commitments and Contingencies_2
Commitments and Contingencies (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2016 | Mar. 15, 2019 | |
Operating Leases | ||||
2019 | $ 7,494 | |||
2020 | 6,236 | |||
2021 | 440 | |||
2022 | 448 | |||
2024 and thereafter | 1,858 | |||
Total | 16,476 | |||
Application Providers and Other | ||||
2019 | 17,403 | |||
2020 | 4,393 | |||
2021 | 548 | |||
2022 | 23 | |||
2024 and thereafter | 109 | |||
Total | 22,476 | |||
Rent expense | 7,300 | $ 6,300 | $ 5,800 | |
Loss Contingencies [Line Items] | ||||
Contractual obligation | $ 22,476 | |||
Subsequent Event | ||||
Application Providers and Other | ||||
Total | $ 41,000 | |||
Loss Contingencies [Line Items] | ||||
Contractual obligation | $ 41,000 |
Net Loss Per Share Attributab_3
Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2019 | Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Jan. 31, 2018 | Oct. 31, 2017 | Jul. 31, 2017 | Apr. 30, 2017 | Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Earnings Per Share [Abstract] | |||||||||||
Net loss attributable to common stockholders | $ (15,460) | $ (22,940) | $ (19,396) | $ (17,041) | $ (16,998) | $ (17,062) | $ (16,399) | $ (16,106) | $ (74,837) | $ (66,565) | $ (43,150) |
Weighted-average common shares outstanding (in shares) | 98,387,366 | 78,632,448 | 31,069,695 | ||||||||
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (0.15) | $ (0.23) | $ (0.20) | $ (0.18) | $ (0.18) | $ (0.19) | $ (0.18) | $ (0.40) | $ (0.76) | $ (0.85) | $ (1.39) |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Anti-dilutive common equivalent shares (in shares) | 23,857,181 | 27,453,429 | 71,540,798 | ||||||||
Convertible preferred stock | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Anti-dilutive common equivalent shares (in shares) | 0 | 0 | 43,594,753 | ||||||||
Warrants | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Anti-dilutive common equivalent shares (in shares) | 0 | 0 | 85,000 | ||||||||
Warrants | Series B | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Anti-dilutive common equivalent shares (in shares) | 0 | 0 | 67,568 | ||||||||
Warrants | Series C | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Anti-dilutive common equivalent shares (in shares) | 0 | 0 | 43,369 | ||||||||
Options to purchase common stock | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Anti-dilutive common equivalent shares (in shares) | 15,977,235 | 22,512,856 | 27,420,108 | ||||||||
Restricted stock and restricted stock units | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Anti-dilutive common equivalent shares (in shares) | 7,703,705 | 4,457,585 | 330,000 | ||||||||
Shares committed under 2017 ESPP | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Anti-dilutive common equivalent shares (in shares) | 176,241 | 482,988 | 0 |
Selected Quarterly Financial _3
Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2019 | Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Jan. 31, 2018 | Oct. 31, 2017 | Jul. 31, 2017 | Apr. 30, 2017 | Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Revenue | $ 63,759 | $ 58,613 | $ 54,923 | $ 50,988 | $ 48,020 | $ 44,332 | $ 40,769 | $ 37,080 | $ 228,283 | $ 170,201 | $ 124,261 |
Gross profit | 48,118 | 43,727 | 40,837 | 38,188 | 35,812 | 32,674 | 30,228 | 27,392 | 170,870 | 126,106 | 87,311 |
Loss from operations | (16,223) | (23,012) | (19,504) | (16,906) | (17,503) | (17,236) | (16,507) | (15,394) | (75,645) | (66,640) | (42,700) |
Net loss | $ (15,460) | $ (22,940) | $ (19,396) | $ (17,041) | $ (16,998) | $ (17,062) | $ (16,399) | $ (16,106) | $ (74,837) | $ (66,565) | $ (43,150) |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (0.15) | $ (0.23) | $ (0.20) | $ (0.18) | $ (0.18) | $ (0.19) | $ (0.18) | $ (0.40) | $ (0.76) | $ (0.85) | $ (1.39) |
Selected Quarterly Financial _4
Selected Quarterly Financial Data (Unaudited) - Selected summarized quarterly financial information, as adjusted (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2019 | Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Jan. 31, 2018 | Oct. 31, 2017 | Jul. 31, 2017 | Apr. 30, 2017 | Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Revenue | $ 63,759 | $ 58,613 | $ 54,923 | $ 50,988 | $ 48,020 | $ 44,332 | $ 40,769 | $ 37,080 | $ 228,283 | $ 170,201 | $ 124,261 |
Gross profit | 48,118 | 43,727 | 40,837 | 38,188 | 35,812 | 32,674 | 30,228 | 27,392 | 170,870 | 126,106 | 87,311 |
Loss from operations | (16,223) | (23,012) | (19,504) | (16,906) | (17,503) | (17,236) | (16,507) | (15,394) | (75,645) | (66,640) | (42,700) |
Net loss | $ (15,460) | $ (22,940) | $ (19,396) | $ (17,041) | $ (16,998) | $ (17,062) | $ (16,399) | $ (16,106) | $ (74,837) | $ (66,565) | $ (43,150) |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (0.15) | $ (0.23) | $ (0.20) | $ (0.18) | $ (0.18) | $ (0.19) | $ (0.18) | $ (0.40) | $ (0.76) | $ (0.85) | $ (1.39) |
Prior to Adoption of ASU 2014-09 | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Revenue | $ 58,742 | $ 55,096 | $ 51,095 | $ 228,751 | |||||||
Gross profit | 43,856 | 41,010 | 38,295 | 171,338 | |||||||
Loss from operations | (24,838) | (21,204) | (18,001) | (84,704) | |||||||
Net loss | $ (24,766) | $ (21,096) | $ (18,136) | $ (83,896) | |||||||
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (0.25) | $ (0.22) | $ (0.19) | $ (0.85) | |||||||
Adjustments for ASU 2014-09 | Accounting Standards Update 2014-09 | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Revenue | $ (129) | $ (173) | $ (107) | $ (468) | |||||||
Gross profit | (129) | (173) | (107) | (468) | |||||||
Loss from operations | 1,826 | 1,700 | 1,095 | 9,059 | |||||||
Net loss | $ 1,826 | $ 1,700 | $ 1,095 | $ 9,059 | |||||||
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ 0.02 | $ 0.02 | $ 0.01 | $ 0.09 |
Revenue - Narrative (Details)
Revenue - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | |
Revenue from External Customer [Line Items] | ||
Unearned revenue, revenue recognized | $ 87,300 | |
Unearned revenue, current | 135,544 | $ 89,474 |
Unearned revenue, noncurrent | 100 | |
Customer deposits | $ 1,144 | $ 0 |
Service | Sales Revenue, Net | Product Concentration Risk | ||
Revenue from External Customer [Line Items] | ||
Concentration risk, percentage | 4.00% |
Revenue - Disaggregation of Rev
Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2019 | Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Jan. 31, 2018 | Oct. 31, 2017 | Jul. 31, 2017 | Apr. 30, 2017 | Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue | $ 63,759 | $ 58,613 | $ 54,923 | $ 50,988 | $ 48,020 | $ 44,332 | $ 40,769 | $ 37,080 | $ 228,283 | $ 170,201 | $ 124,261 |
North America | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue | 197,285 | 155,966 | 118,754 | ||||||||
International | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue | $ 30,998 | $ 14,235 | $ 5,507 |
Revenue - Remaining Performance
Revenue - Remaining Performance Obligations (Details) $ in Millions | Jan. 31, 2019USD ($) |
Revenue from Contract with Customer [Abstract] | |
Revenue, Remaining Performance Obligation, Amount | $ 262 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue from Contract with Customer [Abstract] | |
Revenue, Remaining Performance Obligation, Amount | $ 242.9 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 2 years |
Uncategorized Items - yext-2019
Label | Element | Value |
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 7,181,000 |
AOCI Attributable to Parent [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 3,000 |
Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 7,178,000 |