Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Apr. 30, 2017 | May 30, 2017 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | YEXT, INC. | |
Entity Central Index Key | 1,614,178 | |
Current Fiscal Year End Date | --01-31 | |
Entity Filer Category | Non-accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Apr. 30, 2017 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 90,041,408 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Apr. 30, 2017 | Jan. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 133,735 | $ 24,420 |
Restricted cash | 502 | 0 |
Accounts receivable, net of allowances of $77 and $189, respectively | 19,030 | 27,646 |
Prepaid expenses and other current assets | 4,754 | 3,511 |
Deferred commissions | 6,370 | 6,252 |
Total current assets | 164,391 | 61,829 |
Restricted cash | 0 | 500 |
Property and equipment, net | 11,814 | 11,613 |
Goodwill | 4,497 | 4,444 |
Intangible assets, net | 3,051 | 3,128 |
Other long term assets | 2,899 | 4,951 |
Total assets | 186,652 | 86,465 |
Current liabilities: | ||
Accounts payable, accrued expenses and other current liabilities | 19,764 | 25,633 |
Deferred revenue | 57,361 | 57,112 |
Deferred rent | 1,243 | 936 |
Total current liabilities | 78,368 | 83,681 |
Deferred rent, non-current | 4,048 | 4,348 |
Long term debt | 0 | 5,000 |
Deferred tax liability | 153 | 168 |
Other long term liabilities | 406 | 408 |
Total liabilities | 82,975 | 93,605 |
Commitments and contingencies (Note 11) | ||
Convertible preferred stock: | ||
Convertible preferred stock, $0.001 par value per share; zero and 43,705,690 shares authorized at April 30, 2017 and January 31, 2017, respectively; zero and 43,594,753 shares issued and outstanding at April 30, 2017 and January 31, 2017, respectively | 0 | 120,615 |
Stockholders’ equity (deficit): | ||
Preferred stock, $0.001 par value per share; 50,000,000 and zero shares authorized at April 30, 2017 and January 31, 2017, respectively; zero shares issued and outstanding at April 30, 2017 and January 31, 2017 | 0 | 0 |
Common stock, $0.001 par value per share; 500,000,000 and 200,000,000 shares authorized at April 30, 2017 and January 31, 2017, respectively; 96,500,775 and 37,900,051 shares issued at April 30, 2017 and January 31, 2017, respectively; 89,995,441 and 31,394,717 shares outstanding at April 30, 2017 and January 31, 2017, respectively | 97 | 38 |
Additional paid-in capital | 300,092 | 52,805 |
Accumulated other comprehensive loss | (1,616) | (1,808) |
Accumulated deficit | (182,991) | (166,885) |
Treasury stock, at cost | (11,905) | (11,905) |
Total stockholders’ equity (deficit) | 103,677 | (127,755) |
Total liabilities, convertible preferred stock and stockholders’ equity (deficit) | $ 186,652 | $ 86,465 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Apr. 30, 2017 | Jan. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 77 | $ 189 |
Temporary equity par value (in dollars per share) | $ 0.001 | $ 0.001 |
Temporary equity shares authorized (in shares) | 0 | 43,705,690 |
Temporary equity shares issued (in shares) | 0 | 43,594,753 |
Temporary equity shares outstanding (in shares) | 0 | 43,594,753 |
Preferred stock par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock shares authorized (in shares) | 50,000,000 | 0 |
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 | 200,000,000 |
Common stock shares issued (in shares) | 96,500,775 | 37,900,051 |
Common stock shares outstanding (in shares) | 89,995,441 | 31,394,717 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Income Statement [Abstract] | ||
Revenue | $ 37,080 | $ 27,125 |
Cost of revenue | 9,688 | 8,835 |
Gross profit | 27,392 | 18,290 |
Operating expenses: | ||
Sales and marketing | 28,462 | 16,843 |
Research and development | 4,986 | 4,771 |
General and administrative | 9,338 | 5,983 |
Total operating expenses | 42,786 | 27,597 |
Loss from operations | (15,394) | (9,307) |
Other expense, net | (680) | (35) |
Loss from operations before income taxes | (16,074) | (9,342) |
Provision for income taxes | (32) | (1) |
Net loss | $ (16,106) | $ (9,343) |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (0.40) | $ (0.30) |
Weighted-average number of shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares) | 40,466,620 | 30,978,083 |
Other comprehensive income: | ||
Foreign currency translation adjustment | $ 192 | $ 265 |
Total comprehensive loss | $ (15,914) | $ (9,078) |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Income | 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 | 43,594,753 | 43,594,000 | |||||
Temporary equity, end of period at Jan. 31, 2017 | $ 120,615 | $ 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 | (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 Apr. 30, 2017 | 0 | 0 | |||||
Temporary equity, end of period at Apr. 30, 2017 | $ 0 | $ 0 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
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 convertible preferred stock to common stock | 120,615 | $ 44 | 120,571 | ||||
Conversion of preferred stock warrants to common stock warrants | $ 1,435 | 1,435 | |||||
Exercise of stock options (in shares) | 2,727,513 | 2,728,000 | |||||
Exercise of stock options | $ 2,140 | $ 3 | 2,137 | ||||
Exercise of common stock warrants (in shares) | 143,000 | ||||||
Exercise of common stock warrants | 0 | ||||||
Vested restricted stock units converted to common shares (in shares) | 60,000 | ||||||
Vested restricted stock units converted to common shares | 0 | ||||||
Stock-based compensation | 4,062 | 4,062 | |||||
Other comprehensive income | 192 | 192 | |||||
Net loss | (16,106) | (16,106) | |||||
End of period (in shares) at Apr. 30, 2017 | 89,995,000 | ||||||
End of period at Apr. 30, 2017 | 103,677 | $ 97 | 300,092 | $ (1,616) | $ (182,991) | $ (11,905) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Issuance costs | $ 1,969 | $ 4,433 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Cash flows from operating activities: | ||
Net loss | $ (16,106) | $ (9,343) |
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||
Depreciation and amortization | 1,176 | 968 |
Provision for bad debts | 79 | 21 |
Stock-based compensation | 4,062 | 1,598 |
Change in fair value of convertible preferred stock warrant liability | 491 | 44 |
Deferred income taxes | (13) | (7) |
Amortization of deferred financing costs | 34 | 0 |
Changes in operating assets and liabilities: | ||
Restricted cash | (2) | 5,789 |
Accounts receivable | 8,537 | 10,475 |
Prepaid expenses and other assets | (1,277) | (1,063) |
Deferred commissions | (365) | (405) |
Other long term assets | (220) | (2) |
Accounts payable, accrued expenses and other liabilities | (4,994) | (2,641) |
Deferred revenue | 243 | 2,222 |
Deferred rent | 7 | (214) |
Other long term liabilities | 2 | 9 |
Net cash (used in) provided by operating activities | (8,346) | 7,451 |
Cash flows from investing activities: | ||
Capital expenditures | (1,078) | (829) |
Net cash used in investing activities | (1,078) | (829) |
Cash flows from financing activities: | ||
Proceeds from initial public offering, net of underwriting discounts and commissions | 123,527 | 0 |
Payments of deferred offering costs | (1,969) | 0 |
Proceeds from exercise of stock options | 2,140 | 486 |
Repayments on Revolving Line | (5,000) | 0 |
Payments of deferred financing costs | 0 | (85) |
Net cash provided by financing activities | 118,698 | 401 |
Effect of exchange rate changes on cash and cash equivalents | 41 | 4 |
Net increase in cash and cash equivalents | 109,315 | 7,027 |
Cash and cash equivalents at beginning of period | 24,420 | 30,028 |
Cash and cash equivalents at end of period | 133,735 | 37,055 |
Supplemental disclosures of non-cash investing and financing information: | ||
Purchase of capital expenditures in accounts payable, accrued expenses and other current liabilities | 231 | 138 |
Deferred offering costs in accounts payable, accrued expenses and other current liabilities | 2,294 | 0 |
Conversion of convertible preferred stock to common stock | 120,615 | 0 |
Conversion of convertible preferred stock warrants to common stock warrants | 1,435 | 0 |
Cash paid on interest | 71 | 0 |
Cash paid on income taxes | $ 2 | $ 0 |
Organization and Description of
Organization and Description of Business | 3 Months Ended |
Apr. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Description of Business | Organization and Description of Business Description of Business Yext, Inc. (the "Company") provides a knowledge engine platform that lets businesses manage their digital knowledge in the cloud and sync it to over 100 services including Apple Maps, Bing, Cortana, Facebook, Google, Google Maps, Instagram, Siri and Yelp. The Company has built direct data integrations between its software and the members of its PowerListings Network that end consumers around the globe use to discover new businesses, read reviews, and find accurate answers to their queries. The Company's cloud-based software platform, the Yext Knowledge Engine, powers all of the Company's key features, including the Company's Listings, Pages and Reviews features along with its other features and capabilities. Fiscal Year The Company's fiscal year ends on January 31 . References to fiscal 2018 , for example, are to the fiscal year ending January 31, 2018 . Initial Public Offering In April 2017, the Company closed its initial public offering ("IPO"), in which it issued and sold 12,075,000 shares of common stock inclusive of the underwriters’ option shares that were exercised in full. The price per share to the public was $11.00 . The Company received aggregate proceeds of $123.5 million from the IPO, net of underwriters’ discounts and commissions, before deducting offering costs of $4.4 million . Upon the closing of the IPO, all shares of the Company’s outstanding preferred stock automatically converted into 43,594,753 shares of common stock. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Apr. 30, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation The accompanying condensed 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 interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the final prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on April 12, 2017 (the "Prospectus"). The condensed 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. The condensed consolidated balance sheet as of January 31, 2017 , included herein, was derived from the audited financial statements as of that date, but does not include all disclosures including certain notes required by U.S. GAAP on an annual reporting basis. In the opinion of management, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss and cash flows for the interim periods. The results for the three months ended April 30, 2017 are not necessarily indicative of the results to be expected for any subsequent quarter or for the fiscal year ending January 31, 2018 . There have been no material changes to the Company's significant accounting policies as described in the Prospectus. Use of Estimates The preparation of condensed 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 condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management 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 providing a knowledge engine platform. Operating segments are defined as components 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 condensed consolidated financial statements. Concentration of Credit Risk The Company's financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash and trade 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. The Company has not experienced any losses on its deposits of cash and cash equivalents to date. At April 30, 2017 and January 31, 2017 , no single customer accounted for more than 10% of accounts receivable. No single customer accounted for more than 10% of the Company's revenue for the three months ended April 30, 2017 and 2016 . Geographic Locations Revenue by geographic region is as follows: Three months ended April 30, (in thousands) 2017 2016 North America $ 34,920 $ 26,263 Europe 2,160 862 Total $ 37,080 $ 27,125 North American revenue is predominantly attributable to the United States but also includes revenue from Canada. Recent Accounting Pronouncements Section 107 of 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 delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company has elected to avail itself of this extended transition period and, as a result, the Company will not adopt new or revised accounting standards on the relevant dates on which adoption of such standards is required for other public companies until required by private company accounting standards. In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update, ("ASU"), No. 2014-09, "Revenue from Contracts with Customers (Topic 606)" ("ASU 2014-09"). ASU 2014-09 establishes principles for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services. ASU 2014-09 is effective for public entities for annual reporting periods, and interim periods within those annual reporting periods, beginning after December 31, 2017. For all other entities, including emerging growth companies, the standard is effective for annual reporting periods beginning after December 15, 2018, and interim periods within annual reporting periods, beginning after December 15, 2019. Early adoption of this standard is permitted for all entities. The guidance allows for the amendment to be applied either retrospectively to each prior reporting period presented or retrospectively as a cumulative-effect adjustment as of the date of adoption. The Company plans to adopt the standard retrospectively as a cumulative-effect adjustment as of the date of adoption and is evaluating the impact of adopting this new accounting guidance. In February 2016, the FASB issued ASU No. 2016-02, "Leases," 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 so that the cost of the lease is allocated over the lease term, on a generally straight-line basis. The standard is effective for public entities for annual reporting periods, and interim periods within those annual reporting periods, beginning after December 15, 2018. For all other entities, including emerging growth companies, the standard is effective for annual reporting periods beginning after December 15, 2019, and interim periods within annual reporting periods beginning after December 15, 2020. The Company is evaluating the potential impact of adopting this new accounting guidance. In March 2016, the FASB issued ASU No. 2016-09, "Stock Compensation: Improvements to Employee Shared-Based Payment Accounting," which simplifies and improves several aspects of the accounting for employee share-based payment transactions for public entities. The guidance will require all tax effects related to share-based payments at settlement or expiration to be recorded through the income statement and be reported as operating activities on the statement of cash flows. Further, under the new guidance, entities are permitted to make an accounting policy election for the impact of forfeitures on the recognition of expense for share-based payment awards, whereby forfeitures can be estimated, as required today, or recognized when they occur. The standard is effective for public entities for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2016. For all other entities, including emerging growth companies, the standard is effective for annual periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Early adoption is permitted for any entity in any interim or annual period. The Company is evaluating the potential impact of adopting this new accounting guidance. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles-Goodwill and Other: Simplifying the Test for Goodwill Impairment," to simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. The standard is effective for public entities for annual or any interim goodwill impairment tests in annual reporting periods beginning after December 15, 2019. For all other entities, including emerging growth companies, the standard is effective for annual or any interim goodwill impairment tests in annual reporting periods beginning after December 15, 2021. Early adoption of this standard is permitted. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements. In May 2017, the FASB issued ASU 2017-09, "Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting," to provide clarity and reduce both diversity in practice and cost complexity when applying the guidance in Topic 718 to a change to the terms and conditions of a stock-based payment award. ASU 2017-09 also provides guidance about the types of changes to the terms or conditions of a share-based payment award that require an entity to apply modification accounting in accordance with Topic 718. For all entities, including emerging growth companies, the standard is effective for annual periods beginning after December 15, 2017, and for interim periods therein. Early adoption is permitted. The Company is evaluating the potential impact of adopting this new accounting guidance. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 3 Months Ended |
Apr. 30, 2017 | |
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. The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The fair value of the Company's investments in certain money market funds is their face value. Such instruments are classified as Level 1 and are included in cash and cash equivalents on the Company's condensed consolidated balance sheets. The following summarizes assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy (in thousands): April 30, 2017 Level 1 Level 2 Level 3 Total Assets Cash equivalents - money market funds (1) $ 12,095 $ — $ — $ 12,095 January 31, 2017 Level 1 Level 2 Level 3 Total Assets Cash equivalents - money market funds (1) $ 9,785 $ — $ — $ 9,785 Liabilities Preferred stock warrant liability (2) $ — $ — $ 944 $ 944 (1) Included in cash and cash equivalents. (2) Included in accounts payable, accrued expenses and other current liabilities. On April 19, 2017, upon the closing of the Company’s IPO, all outstanding warrants exercisable for shares of convertible preferred stock automatically converted into warrants exercisable for 110,937 shares of common stock. 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). Subsequently, in April 2017, the warrants exercisable for 110,937 shares of common stock were exercised. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 3 Months Ended |
Apr. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill As of April 30, 2017 and January 31, 2017 , the Company had goodwill of $4.5 million and $4.4 million , respectively. 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 intangible assets with indefinite useful lives. Goodwill is not amortized but is subject to periodic testing for impairment in accordance with GAAP at the reporting unit level, which is at or one level below the Company’s operating segments. The test for impairment is conducted annually each November 1st, 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 determined that no events occurred or circumstances changed during the three months ended April 30, 2017 and 2016 that would more likely than not reduce the fair value of the Company's reporting unit below its carrying amount. However, if market conditions deteriorate, it may be necessary to record impairment charges in the future. Intangible Assets As of April 30, 2017 and January 31, 2017 , the Company had intangible assets, net of $3.1 million and $3.1 million , respectively. The Company's intangible assets include customer relationships, website development, trade names and trademarks, acquired technology and domains. These intangible assets are amortized using the straight-line method over their estimated economic 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 determined that no events occurred or circumstances changed during the three months ended April 30, 2017 and 2016 that would indicate that its intangible assets with finite lives may not be recoverable. However, if market conditions deteriorate, it may be necessary to record impairment charges in the future. Amortization expense related to intangible assets totaled $0.2 million for each of the three months ended April 30, 2017 and 2016 . |
Property and Equipment, net
Property and Equipment, net | 3 Months Ended |
Apr. 30, 2017 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment, net | Property and Equipment, net Property and equipment, net consists of the following: (in thousands) April 30, January 31, Furniture and fixtures $ 629 $ 625 Office equipment 3,842 3,383 Leasehold improvements 12,802 12,695 Computer software 2,190 1,740 Construction in progress 461 284 Total property and equipment 19,924 18,727 Less: accumulated depreciation and amortization (8,110 ) (7,114 ) Total property and equipment, net $ 11,814 $ 11,613 Depreciation expense was $1.0 million and $0.8 million for the three months ended April 30, 2017 and 2016 , respectively. |
Accounts Payable, Accrued Expen
Accounts Payable, Accrued Expenses and Other Current Liabilities | 3 Months Ended |
Apr. 30, 2017 | |
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) April 30, January 31, Accounts payable $ 5,198 $ 5,303 Accrued employee compensation 4,401 10,607 Accrued offering costs 2,294 2,349 Accrued PowerListing Network application provider fees 1,669 1,602 Accrued professional fees 1,275 809 Accrued sales tax 979 1,213 Preferred stock warrant liability — 944 Other 3,948 2,806 Total $ 19,764 $ 25,633 |
Stock-Based Compensation
Stock-Based Compensation | 3 Months Ended |
Apr. 30, 2017 | |
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 or restricted stock units ("RSUs"). The 2008 Plan is administered by the 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, which allows for the issuance of up to 10,000,000 shares of common stock. 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 April 30, 2017 , the number of shares available for future award under the 2016 Plan is 7,004,755 . Stock Options The following table summarizes stock option activity during the three months ended April 30, 2017 : Options Outstanding Outstanding Stock Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (in thousands) Balance, January 31, 2017 27,420,108 $ 4.24 6.87 $ 122,803 Options granted 799,250 $ 8.64 Options exercised (2,727,513 ) $ 0.78 Options forfeited (161,909 ) $ 6.36 Balance, April 30, 2017 25,329,936 $ 4.74 7.17 $ 256,380 Vested and expected to vest at April 30, 2017 24,276,268 $ 4.66 7.09 $ 247,712 Exercisable at April 30, 2017 13,624,390 $ 3.43 5.55 $ 156,003 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 April 30, 2017 . Prior to the IPO, the fair value of the Company’s common stock was determined by the Company’s Board of Directors. After the IPO, 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 $22.5 million and $0.8 million for the three months ended April 30, 2017 and 2016 , 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. The weighted-average grant date fair value of options granted during the three months ended April 30, 2017 and 2016 was $5.01 and $3.24 per share, respectively. Restricted Stock Units The following table summarizes the activity related to the Company's RSUs: Number of RSUs Outstanding Weighted-Average Grant Date Fair Value Awarded and unvested at January 31, 2017 330,000 $ 6.54 Awards granted — $ — Awards vested (60,000 ) $ 6.11 Awards forfeited — $ — Awarded and unvested at April 30, 2017 270,000 $ 6.64 Employee Stock Purchase Plan In March 2017, the Company's Board of Directors adopted, and its stockholders approved, the Company's 2017 Employee Stock Purchase Plan ("ESPP"), which became effective on the date it was adopted. A total of 1,500,000 shares of the Company's common stock are available for sale to employees under the ESPP. The number of shares of the Company's common stock that will be available for sale to employees under the ESPP also includes an annual increase on the first day of each fiscal year beginning on February 1, 2018, equal to the least 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. For the three months ended April 30, 2017 , no shares of common stock were purchased under the ESPP. 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 cost at the grant date, based on the estimated fair value of the award, and recognizes the cost as expense on a straight-line basis (net of estimated forfeitures) over the requisite service period. The expense is recorded in the condensed consolidated statements of operations and comprehensive loss. The Company's stock-based compensation for the three months ended April 30, 2017 and 2016 were as follows: Three months ended April 30, (in thousands) 2017 2016 Cost of revenue $ 147 $ 147 Sales and marketing 2,259 699 Research and development 563 409 General and administrative 1,093 343 Total stock-based compensation $ 4,062 $ 1,598 As of April 30, 2017 , there was approximately $39.0 million of total unrecognized compensation cost related to unvested stock options granted. This unrecognized compensation cost is expected to be recognized over an estimated weighted-average vested period of approximately 3.34 years . The fair values of the Company’s stock options granted during the three months ended April 30, 2017 and 2016 were estimated using the Black-Scholes option-pricing model with the following assumptions: Three months ended April 30, 2017 2016 Expected life (years) 6.08 6.25 Expected volatility 49.39% - 49.52% 52.00% Dividend yield 0% 0% Risk-free rate 2.03% - 2.13% 1.42% - 1.57% |
Equity
Equity | 3 Months Ended |
Apr. 30, 2017 | |
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. 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 April 30, 2017 , no shares of preferred stock were issued or outstanding. Common Stock As of April 30, 2017 and January 31, 2017 , the Company had authorized 500,000,000 and 200,000,000 shares, respectively, 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 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 The Company has 6,505,334 shares of treasury stock which are carried at its cost basis of $11.9 million on the Company's condensed consolidated balance sheets. |
Debt
Debt | 3 Months Ended |
Apr. 30, 2017 | |
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 ("Letter of Credit" and, together with the Revolving Line, the "Credit Agreement"). The Credit Agreement matures on March 16, 2018 . No significant debt issuance costs were incurred as part of the transaction. 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 loan 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. On November 18, 2016, the Company drew $5.0 million on its Revolving Line for strategic operating purposes. As of January 31, 2017 , the Company classified the $5.0 million outstanding on the Revolving Line as long term debt, and its book value approximated its fair value. On April 28, 2017, the Company repaid the $5.0 million on its Revolving Line. As of April 30, 2017 , the Company had no debt outstanding and was in compliance with all debt covenants. |
Income Taxes
Income Taxes | 3 Months Ended |
Apr. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The Company computes its year-to-date provision for income taxes by applying the estimated annual effective tax rate to its year-to-date pre-tax income or loss, and adjusts the provision for discrete tax items recorded during the period. For the three months ended April 30, 2017 and 2016 , the Company recorded a provision for income taxes of $32,000 and $1,000 , respectively. The Company's estimated annual effective tax rate for the three months ended April 30, 2017 and 2016 differs from the U.S. federal statutory tax rate of 34% primarily due to a full valuation allowance related to the Company's U.S. and U.K. deferred tax assets, offset by the foreign tax rate differential on non-U.S. income. 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, tax-planning strategies and loss carryback. 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. The Company believes that it has appropriate support for the income tax positions on its tax returns and has provided adequate reserves for income tax uncertainties in all open tax years. The outcome of tax audits cannot be predicted with certainty and if any issues addressed in the Company’s tax audits are resolved in a future year in a manner inconsistent with management’s current expectations, the Company may adjust its provision for income taxes in the future. The Company does not anticipate a material change in the total amount or composition of its unrecognized tax benefits within the next 12 months. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Apr. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Leases, PowerListings Network Application Provider Agreements and Other The Company is obligated under certain non-cancelable operating leases for office space, the agreements for which expire at various dates between fiscal years 2021 and 2028 , including a long-term operating lease for the Company's primary facility in New York, which expires in December 2020 . The Company is a party to various agreements with PowerListings Network application providers, the agreements for which expire at various dates between fiscal years 2018 and 2035 . Future minimum annual payments for non-cancelable leases, PowerListings Network application provider agreements, and other contractual obligations in the normal course of business as of April 30, 2017 are as follows (in thousands): Fiscal year ending January 31: Operating Leases Application Providers and Other 2018 $ 5,232 $ 11,701 2019 7,368 4,521 2020 7,528 1,104 2021 7,241 4 2022 and thereafter 3,061 19 Total $ 30,430 $ 17,349 Rent expense was $1.5 million and $1.4 million for the three months ended April 30, 2017 and 2016 , respectively. Legal Proceedings The Company was a defendant in a case pending in the United States District Court for the Southern District of New York, captioned Tropical Sails Corp. v. Yext, Inc., civil action no. 14-cv-7582. The plaintiffs alleged various violations of New York law related to certain of the Company's sales practices. In May 2015, the Court dismissed two of the four counts alleged by plaintiffs. In March 2016, the plaintiffs filed a Motion for Class Certification, and the Company filed a Motion for Summary Judgment as to the remaining counts. In March 2017, the Court denied the plaintiffs' Motion for Class Certification and the Company's Motion for Summary Judgment. In April 2017, the Company entered into a settlement agreement pursuant to which the case was dismissed with prejudice. In addition, the Company is and may be involved in various legal proceedings arising from the normal course of business activities. 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 Indemnification 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 condensed 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 | 3 Months Ended |
Apr. 30, 2017 | |
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 (in thousands, except share and per share amounts): Three months ended April 30, 2017 2016 Numerator: Net loss attributable to common stockholders $ (16,106 ) $ (9,343 ) Denominator: Weighted-average common shares outstanding 40,466,620 30,978,083 Net loss per share attributable to common stockholders, basic and diluted $ (0.40 ) $ (0.30 ) 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. 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. Common equivalent shares are convertible preferred stock, convertible preferred stock warrants, shares issuable upon the exercise of stock options and unvested shares of restricted stock units. Since the Company was in a loss position for all periods presented, basic net loss per share attributable to common stockholders is the same as diluted net loss per share attributable to common stockholders as the inclusion of all potential common shares outstanding would have been anti-dilutive. Anti-dilutive common equivalent shares were as follows: Three months ended April 30, 2017 2016 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 35,000 85,000 Options to purchase common stock 25,329,936 21,239,596 RSUs 270,000 40,000 Total 25,634,936 65,070,286 |
Summary of Significant Accoun19
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Apr. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying condensed 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 interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the final prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on April 12, 2017 (the "Prospectus"). The condensed 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. The condensed consolidated balance sheet as of January 31, 2017 , included herein, was derived from the audited financial statements as of that date, but does not include all disclosures including certain notes required by U.S. GAAP on an annual reporting basis. In the opinion of management, the accompanying condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss and cash flows for the interim periods. The results for the three months ended April 30, 2017 are not necessarily indicative of the results to be expected for any subsequent quarter or for the fiscal year ending January 31, 2018 . |
Use of Estimates | Use of Estimates The preparation of condensed 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 condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management 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 providing a knowledge engine platform. Operating segments are defined as components 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 condensed consolidated financial statements. |
Concentration of Credit Risk | Concentration of Credit Risk The Company's financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash and trade 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. The Company has not experienced any losses on its deposits of cash and cash equivalents to date. At April 30, 2017 and January 31, 2017 , no single customer accounted for more than 10% of accounts receivable. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Section 107 of 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 delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. The Company has elected to avail itself of this extended transition period and, as a result, the Company will not adopt new or revised accounting standards on the relevant dates on which adoption of such standards is required for other public companies until required by private company accounting standards. In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update, ("ASU"), No. 2014-09, "Revenue from Contracts with Customers (Topic 606)" ("ASU 2014-09"). ASU 2014-09 establishes principles for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services. ASU 2014-09 is effective for public entities for annual reporting periods, and interim periods within those annual reporting periods, beginning after December 31, 2017. For all other entities, including emerging growth companies, the standard is effective for annual reporting periods beginning after December 15, 2018, and interim periods within annual reporting periods, beginning after December 15, 2019. Early adoption of this standard is permitted for all entities. The guidance allows for the amendment to be applied either retrospectively to each prior reporting period presented or retrospectively as a cumulative-effect adjustment as of the date of adoption. The Company plans to adopt the standard retrospectively as a cumulative-effect adjustment as of the date of adoption and is evaluating the impact of adopting this new accounting guidance. In February 2016, the FASB issued ASU No. 2016-02, "Leases," 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 so that the cost of the lease is allocated over the lease term, on a generally straight-line basis. The standard is effective for public entities for annual reporting periods, and interim periods within those annual reporting periods, beginning after December 15, 2018. For all other entities, including emerging growth companies, the standard is effective for annual reporting periods beginning after December 15, 2019, and interim periods within annual reporting periods beginning after December 15, 2020. The Company is evaluating the potential impact of adopting this new accounting guidance. In March 2016, the FASB issued ASU No. 2016-09, "Stock Compensation: Improvements to Employee Shared-Based Payment Accounting," which simplifies and improves several aspects of the accounting for employee share-based payment transactions for public entities. The guidance will require all tax effects related to share-based payments at settlement or expiration to be recorded through the income statement and be reported as operating activities on the statement of cash flows. Further, under the new guidance, entities are permitted to make an accounting policy election for the impact of forfeitures on the recognition of expense for share-based payment awards, whereby forfeitures can be estimated, as required today, or recognized when they occur. The standard is effective for public entities for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2016. For all other entities, including emerging growth companies, the standard is effective for annual periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Early adoption is permitted for any entity in any interim or annual period. The Company is evaluating the potential impact of adopting this new accounting guidance. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles-Goodwill and Other: Simplifying the Test for Goodwill Impairment," to simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. The standard is effective for public entities for annual or any interim goodwill impairment tests in annual reporting periods beginning after December 15, 2019. For all other entities, including emerging growth companies, the standard is effective for annual or any interim goodwill impairment tests in annual reporting periods beginning after December 15, 2021. Early adoption of this standard is permitted. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements. In May 2017, the FASB issued ASU 2017-09, "Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting," to provide clarity and reduce both diversity in practice and cost complexity when applying the guidance in Topic 718 to a change to the terms and conditions of a stock-based payment award. ASU 2017-09 also provides guidance about the types of changes to the terms or conditions of a share-based payment award that require an entity to apply modification accounting in accordance with Topic 718. For all entities, including emerging growth companies, the standard is effective for annual periods beginning after December 15, 2017, and for interim periods therein. Early adoption is permitted. The Company is evaluating the potential impact of adopting this new accounting guidance. |
Summary of Significant Accoun20
Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
Accounting Policies [Abstract] | |
Revenue by Geographic Areas | Revenue by geographic region is as follows: Three months ended April 30, (in thousands) 2017 2016 North America $ 34,920 $ 26,263 Europe 2,160 862 Total $ 37,080 $ 27,125 |
Fair Value of Financial Instr21
Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following summarizes assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy (in thousands): April 30, 2017 Level 1 Level 2 Level 3 Total Assets Cash equivalents - money market funds (1) $ 12,095 $ — $ — $ 12,095 January 31, 2017 Level 1 Level 2 Level 3 Total Assets Cash equivalents - money market funds (1) $ 9,785 $ — $ — $ 9,785 Liabilities Preferred stock warrant liability (2) $ — $ — $ 944 $ 944 (1) Included in cash and cash equivalents. (2) Included in accounts payable, accrued expenses and other current liabilities. |
Property and Equipment, net (Ta
Property and Equipment, net (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | Property and equipment, net consists of the following: (in thousands) April 30, January 31, Furniture and fixtures $ 629 $ 625 Office equipment 3,842 3,383 Leasehold improvements 12,802 12,695 Computer software 2,190 1,740 Construction in progress 461 284 Total property and equipment 19,924 18,727 Less: accumulated depreciation and amortization (8,110 ) (7,114 ) Total property and equipment, net $ 11,814 $ 11,613 |
Accounts Payable, Accrued Exp23
Accounts Payable, Accrued Expenses and Other Current Liabilities (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
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) April 30, January 31, Accounts payable $ 5,198 $ 5,303 Accrued employee compensation 4,401 10,607 Accrued offering costs 2,294 2,349 Accrued PowerListing Network application provider fees 1,669 1,602 Accrued professional fees 1,275 809 Accrued sales tax 979 1,213 Preferred stock warrant liability — 944 Other 3,948 2,806 Total $ 19,764 $ 25,633 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Stock Options Activity | The following table summarizes stock option activity during the three months ended April 30, 2017 : Options Outstanding Outstanding Stock Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (in thousands) Balance, January 31, 2017 27,420,108 $ 4.24 6.87 $ 122,803 Options granted 799,250 $ 8.64 Options exercised (2,727,513 ) $ 0.78 Options forfeited (161,909 ) $ 6.36 Balance, April 30, 2017 25,329,936 $ 4.74 7.17 $ 256,380 Vested and expected to vest at April 30, 2017 24,276,268 $ 4.66 7.09 $ 247,712 Exercisable at April 30, 2017 13,624,390 $ 3.43 5.55 $ 156,003 |
Schedule of Nonvested RSU Activity | The following table summarizes the activity related to the Company's RSUs: Number of RSUs Outstanding Weighted-Average Grant Date Fair Value Awarded and unvested at January 31, 2017 330,000 $ 6.54 Awards granted — $ — Awards vested (60,000 ) $ 6.11 Awards forfeited — $ — Awarded and unvested at April 30, 2017 270,000 $ 6.64 |
Schedule of Share-Based Compensation Expense | The Company's stock-based compensation for the three months ended April 30, 2017 and 2016 were as follows: Three months ended April 30, (in thousands) 2017 2016 Cost of revenue $ 147 $ 147 Sales and marketing 2,259 699 Research and development 563 409 General and administrative 1,093 343 Total stock-based compensation $ 4,062 $ 1,598 |
Schedule of Stock Options Valuation Assumptions | The fair values of the Company’s stock options granted during the three months ended April 30, 2017 and 2016 were estimated using the Black-Scholes option-pricing model with the following assumptions: Three months ended April 30, 2017 2016 Expected life (years) 6.08 6.25 Expected volatility 49.39% - 49.52% 52.00% Dividend yield 0% 0% Risk-free rate 2.03% - 2.13% 1.42% - 1.57% |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Payments for Operating Leases | Future minimum annual payments for non-cancelable leases, PowerListings Network application provider agreements, and other contractual obligations in the normal course of business as of April 30, 2017 are as follows (in thousands): Fiscal year ending January 31: Operating Leases Application Providers and Other 2018 $ 5,232 $ 11,701 2019 7,368 4,521 2020 7,528 1,104 2021 7,241 4 2022 and thereafter 3,061 19 Total $ 30,430 $ 17,349 |
Schedule of Future Minimum Contractual Obligation Payments | Future minimum annual payments for non-cancelable leases, PowerListings Network application provider agreements, and other contractual obligations in the normal course of business as of April 30, 2017 are as follows (in thousands): Fiscal year ending January 31: Operating Leases Application Providers and Other 2018 $ 5,232 $ 11,701 2019 7,368 4,521 2020 7,528 1,104 2021 7,241 4 2022 and thereafter 3,061 19 Total $ 30,430 $ 17,349 |
Net Loss Per Share Attributab26
Net Loss Per Share Attributable to Common Stockholders (Tables) | 3 Months Ended |
Apr. 30, 2017 | |
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 (in thousands, except share and per share amounts): Three months ended April 30, 2017 2016 Numerator: Net loss attributable to common stockholders $ (16,106 ) $ (9,343 ) Denominator: Weighted-average common shares outstanding 40,466,620 30,978,083 Net loss per share attributable to common stockholders, basic and diluted $ (0.40 ) $ (0.30 ) |
Schedule of Antidilutive Securities | Anti-dilutive common equivalent shares were as follows: Three months ended April 30, 2017 2016 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 35,000 85,000 Options to purchase common stock 25,329,936 21,239,596 RSUs 270,000 40,000 Total 25,634,936 65,070,286 |
Organization and Description 27
Organization and Description of Business (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2017 | Apr. 30, 2016 | |
Class of Stock [Line Items] | |||
Proceeds from initial public offering, net of underwriting discounts and commissions | $ 123,527 | $ 0 | |
Issuance costs | $ 1,969 | $ 0 | |
Common Stock | |||
Class of Stock [Line Items] | |||
Shares issued (in shares) | 12,075,000 | ||
Conversion of preferred stock (in shares) | 43,594,000 | ||
IPO | |||
Class of Stock [Line Items] | |||
Proceeds from initial public offering, net of underwriting discounts and commissions | $ 123,500 | ||
Issuance costs | $ 4,400 | ||
IPO | Common Stock | |||
Class of Stock [Line Items] | |||
Shares issued (in shares) | 12,075,000 | ||
Shares issued, price per share (in dollars per share) | $ 11 | $ 11 | |
Conversion of preferred stock (in shares) | 43,594,753 |
Summary of Significant Accoun28
Summary of Significant Accounting Policies (Details) $ in Thousands | 3 Months Ended | |
Apr. 30, 2017USD ($)segment | Apr. 30, 2016USD ($) | |
Accounting Policies [Abstract] | ||
Number of operating segments | segment | 1 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenue | $ 37,080 | $ 27,125 |
North America | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenue | 34,920 | 26,263 |
Europe | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenue | $ 2,160 | $ 862 |
Fair Value of Financial Instr29
Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Apr. 19, 2017 | Apr. 30, 2017 | Apr. 30, 2016 | Jan. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value adjustment | $ 500 | $ 491 | $ 44 | |
Reclassification of preferred stock warrant liability | $ 1,400 | 1,435 | ||
Common Stock | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Number of shares called by warrants or rights | 110,937 | |||
Recurring | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Preferred stock warrant liability | $ 944 | |||
Recurring | Money market funds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash equivalents - money market funds | 12,095 | 9,785 | ||
Recurring | Level 1 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Preferred stock warrant liability | 0 | |||
Recurring | Level 1 | Money market funds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash equivalents - money market funds | 12,095 | 9,785 | ||
Recurring | Level 2 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Preferred stock warrant liability | 0 | |||
Recurring | Level 2 | Money market funds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash equivalents - money market funds | 0 | 0 | ||
Recurring | Level 3 | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Preferred stock warrant liability | 944 | |||
Recurring | Level 3 | Money market funds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash equivalents - money market funds | $ 0 | $ 0 |
Goodwill and Other Intangible30
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Apr. 30, 2017 | Apr. 30, 2016 | Jan. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | |||
Goodwill | $ 4,497 | $ 4,444 | |
Intangible assets, net | 3,051 | $ 3,128 | |
Amortization of intangible assets | $ 200 | $ 200 | |
Minimum | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets useful life | 3 years | ||
Maximum | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets useful life | 15 years |
Property and Equipment, net (De
Property and Equipment, net (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Apr. 30, 2017 | Apr. 30, 2016 | Jan. 31, 2017 | |
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | $ 19,924 | $ 18,727 | |
Less: accumulated depreciation and amortization | (8,110) | (7,114) | |
Total property and equipment, net | 11,814 | 11,613 | |
Depreciation | 1,000 | $ 800 | |
Furniture and fixtures | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | 629 | 625 | |
Office equipment | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | 3,842 | 3,383 | |
Leasehold improvements | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | 12,802 | 12,695 | |
Computer software | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | 2,190 | 1,740 | |
Construction in progress | |||
Property, Plant and Equipment [Line Items] | |||
Total property and equipment | $ 461 | $ 284 |
Accounts Payable, Accrued Exp32
Accounts Payable, Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Apr. 30, 2017 | Jan. 31, 2017 |
Payables and Accruals [Abstract] | ||
Accounts payable | $ 5,198 | $ 5,303 |
Accrued employee compensation | 4,401 | 10,607 |
Accrued offering costs | 2,294 | 2,349 |
Accrued PowerListing Network application provider fees | 1,669 | 1,602 |
Accrued professional fees | 1,275 | 809 |
Accrued sales tax | 979 | 1,213 |
Preferred stock warrant liability | 0 | 944 |
Other | 3,948 | 2,806 |
Total | $ 19,764 | $ 25,633 |
Stock-Based Compensation - Plan
Stock-Based Compensation - Plans (Details) - shares | 3 Months Ended | ||
Apr. 30, 2017 | Dec. 31, 2016 | 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 | ||
Number of shares available for futures issuance (in shares) | 7,004,755 |
Stock-Based Compensation - Stoc
Stock-Based Compensation - Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | Jan. 31, 2017 | |
Outstanding Stock Options | |||
Balance, January 31, 2017 (in shares) | 27,420,108 | ||
Options granted (in shares) | 799,250 | ||
Options exercised (in shares) | (2,727,513) | ||
Options forfeited (in shares) | (161,909) | ||
Balance, April 30, 2017 (in shares) | 25,329,936 | 27,420,108 | |
Vested and expected to vest at April 30, 2017 (in shares) | 24,276,268 | ||
Exercisable at April 30, 2017 (in shares) | 13,624,390 | ||
Weighted-Average Exercise Price (in dollars per share): | |||
Balance, January 31, 2017 (in dollars per share) | $ 4.24 | ||
Options granted (in dollars per share) | 8.64 | ||
Options exercised (in dollars per share) | 0.78 | ||
Options forfeited (in dollars per share) | 6.36 | ||
Balance, April 30, 2017 (in dollars per share) | 4.74 | $ 4.24 | |
Vested and expected to vest at April 30, 2017 (in dollars per share) | 4.66 | ||
Exercisable at April 30, 2017 (in dollars per share) | $ 3.43 | ||
Balance, Weighted-Average Remaining Contractual Life (in years) | 7 years 2 months 1 day | 6 years 10 months 13 days | |
Vested and expected to vest at April 30, 2017, Weighted-Average Contractual Life (in years) | 7 years 1 month 2 days | ||
Exercisable at April 30, 2017, Weighted-Average Contractual Life (in years) | 5 years 6 months 18 days | ||
Balance, Aggregate Intrinsic Value | $ 256,380 | $ 122,803 | |
Vested and expected to vest at April 30, 2017, Aggregate Intrinsic Value | 247,712 | ||
Exercisable at April 30, 2017, Aggregate Intrinsic Value | 156,003 | ||
Options exercised, intrinsic value | $ 22,500 | $ 800 | |
Options granted, weighted-average grant date fair value (in dollars per share) | $ 5.01 | $ 3.24 |
Stock-Based Compensation - Rest
Stock-Based Compensation - Restricted Stock Units (Details) - Restricted Stock Units | 3 Months Ended |
Apr. 30, 2017$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Awarded and unvested at January 31, 2017 (in shares) | shares | 330,000 |
Awards granted (in shares) | shares | 0 |
Awards vested (in shares) | shares | (60,000) |
Awards forfeited (in shares) | shares | 0 |
Awarded and unvested at April 30, 2017 (in shares) | shares | 270,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Awarded and unvested at January 31, 2017 (in dollars per share) | $ / shares | $ 6.54 |
Awards granted (in dollars per share) | $ / shares | 0 |
Awards vested (in dollars per share) | $ / shares | 6.11 |
Awards forfeited (in dollars per share) | $ / shares | 0 |
Awarded and unvested at April 30, 2017 (in dollars per share) | $ / shares | $ 6.64 |
Stock-Based Compensation - Empl
Stock-Based Compensation - Employee Stock Purchase Plan (Details) - Employee Stock Purchase Plan - shares | 3 Months Ended | |
Apr. 30, 2017 | Mar. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares authorized (in shares) | 1,500,000 | |
Number of shares authorized, annual increase | 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 purchased under plan (in shares) | 0 |
Stock-Based Compensation - St37
Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total stock-based compensation | $ 4,062 | $ 1,598 |
Unrecognized compensation cost, stock options | 39,000 | |
Cost of revenue | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total stock-based compensation | 147 | 147 |
Sales and marketing | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total stock-based compensation | 2,259 | 699 |
Research and development | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total stock-based compensation | 563 | 409 |
General and administrative | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total stock-based compensation | $ 1,093 | $ 343 |
Employee Stock Option | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Unrecognized compensation cost, period for recognition | 3 years 4 months 2 days |
Stock-Based Compensation - Opti
Stock-Based Compensation - Options Valuation Assumptions (Details) | 3 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Expected life (years) | 6 years 29 days | 6 years 3 months |
Expected volatility | 52.00% | |
Expected volatility, minimum | 49.39% | |
Expected volatility, maximum | 49.52% | |
Dividend yield | 0.00% | 0.00% |
Risk-free rate, minimum | 2.03% | 1.42% |
Risk-free rate, maximum | 2.13% | 1.57% |
Equity (Details)
Equity (Details) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Apr. 30, 2017USD ($)vote$ / sharesshares | Jan. 31, 2017USD ($)$ / sharesshares | |
Class of Stock [Line Items] | ||
Preferred stock shares authorized (in shares) | 50,000,000 | 0 |
Preferred stock par value (in dollars per share) | $ / shares | $ 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 | 200,000,000 |
Common stock par value (in dollars per share) | $ / shares | $ 0.001 | $ 0.001 |
Common stock number of votes per share | vote | 1 | |
Treasury stock (in shares) | 6,505,334 | |
Treasury stock | $ | $ 11,905 | $ 11,905 |
Common Stock | ||
Class of Stock [Line Items] | ||
Conversion of preferred stock (in shares) | 43,594,000 |
Debt (Details)
Debt (Details) - USD ($) | Apr. 28, 2017 | Nov. 18, 2016 | Mar. 16, 2016 | Apr. 30, 2017 | Apr. 30, 2016 | Jan. 31, 2017 |
Line of Credit Facility [Line Items] | ||||||
Repayments of line of credit | $ 5,000,000 | $ 0 | ||||
Long-term debt | $ 0 | |||||
Revolving Credit Line | ||||||
Line of Credit Facility [Line Items] | ||||||
Proceeds from line of credit | $ 5,000,000 | |||||
Repayments of line of credit | $ 5,000,000 | |||||
Line of Credit | Revolving Credit Line | ||||||
Line of Credit Facility [Line Items] | ||||||
Long-term debt | $ 5,000,000 | |||||
Line of Credit | Silicon Valley Bank | ||||||
Line of Credit Facility [Line Items] | ||||||
Debt issuance costs | $ 0 | |||||
Covenant terms, minimum adjusted quick ratio | 1.25 | |||||
Line of Credit | Silicon Valley Bank | Revolving Credit Line | ||||||
Line of Credit Facility [Line Items] | ||||||
Borrowing capacity | $ 15,000,000 | |||||
Commitment fee, percentage | 0.25% | |||||
Line of Credit | Silicon Valley Bank | Letter of Credit | ||||||
Line of Credit Facility [Line Items] | ||||||
Borrowing capacity | $ 7,000,000 | |||||
Commitment fee, percentage | 1.75% | |||||
Line of Credit | Prime Rate | Silicon Valley Bank | Revolving Credit Line | ||||||
Line of Credit Facility [Line Items] | ||||||
Basis spread on variable rate | 0.50% |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | |
Income Tax Disclosure [Abstract] | ||
Provision for income taxes | $ 32 | $ 1 |
U.S. federal statutory tax rate | 34.00% | 34.00% |
Commitments and Contingencies42
Commitments and Contingencies (Details) $ in Thousands | 1 Months Ended | 3 Months Ended | |
May 31, 2015claim | Apr. 30, 2017USD ($) | Apr. 30, 2016USD ($) | |
Operating Leases | |||
2,018 | $ 5,232 | ||
2,019 | 7,368 | ||
2,020 | 7,528 | ||
2,021 | 7,241 | ||
2022 and thereafter | 3,061 | ||
Total | 30,430 | ||
Application Providers and Other | |||
2,018 | 11,701 | ||
2,019 | 4,521 | ||
2,020 | 1,104 | ||
2,021 | 4 | ||
2022 and thereafter | 19 | ||
Total | 17,349 | ||
Rent expense | $ 1,500 | $ 1,400 | |
Tropical Sails Corp. V Yext, Inc. | |||
Loss Contingencies [Line Items] | |||
Claims dismissed | claim | 2 | ||
Claims filed | claim | 4 |
Net Loss Per Share Attributab43
Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Apr. 30, 2017 | Apr. 30, 2016 | Jan. 31, 2017 | |
Earnings Per Share [Abstract] | |||
Net loss attributable to common stockholders | $ (16,106) | $ (9,343) | $ (43,150) |
Weighted-average common shares outstanding (in shares) | 40,466,620 | 30,978,083 | |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (0.40) | $ (0.30) | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive common equivalent shares | 25,634,936 | 65,070,286 | |
Convertible preferred stock | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive common equivalent shares | 0 | 43,594,753 | |
Warrants | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive common equivalent shares | 35,000 | 85,000 | |
Warrants | Series B | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive common equivalent shares | 0 | 67,568 | |
Warrants | Series C | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive common equivalent shares | 0 | 43,369 | |
Options to purchase common stock | Common Stock | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive common equivalent shares | 25,329,936 | 21,239,596 | |
RSUs | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive common equivalent shares | 270,000 | 40,000 |