Sailpoint Technologies 10-Q 6 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	6 Months Ended
	Jun. 30, 2019	Aug. 01, 2019
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Registrant Name	SailPoint Technologies Holdings, Inc.
Entity Central Index Key	0001627857
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		89,122,643
Entity File Number	001-38297
Entity Tax Identification Number	471628077
Entity Address, Address Line One	11120 Four Points Drive
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Austin
Entity Address, State or Province	TX
Entity Address, Country	US
Entity Address, Postal Zip Code	78726
City Area Code	512
Local Phone Number	346-2000
New York Stock Exchange
Document Information [Line Items]
Trading Symbol	SAIL
Entity Listing, Description	Common stock, par value $0.0001 per share
Entity Listing, Par Value Per Share	$ 0.0001

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 93,049	$ 70,964
Restricted cash	6,303	6,272
Accounts receivable	70,613	101,469
Prepayments and other current assets	23,289	21,850
Total current assets	193,254	200,555
Property and equipment, net	21,524	19,268
Right-of-use assets	31,330
Other non-current assets	22,973	20,374
Goodwill	219,377	219,377
Intangible assets, net	70,198	74,860
Total assets	558,656	534,434
Current liabilities
Accounts payable	3,444	4,636
Accrued expenses and other liabilities	21,768	21,731
Income taxes payable	591	2,143
Deferred revenue	95,496	95,919
Total current liabilities	121,299	124,429
Deferred tax liability - non-current	4,142	4,142
Long-term operating lease liabilities	38,813	9,788
Deferred revenue - non-current	19,928	18,382
Total liabilities	184,182	156,741
Commitments and contingencies (Note 5)
Stockholders’ equity
Common stock, $0.0001 par value, authorized 300,000 shares, issued and outstanding 89,050 shares at June 30, 2019 and 87,512 shares at December 31, 2018	9	9
Preferred stock, $0.0001 par value, authorized 10,000 shares, no shares issued and outstanding at June 30, 2019 and December 31, 2018
Additional paid in capital	391,841	377,473
(Accumulated deficit) retained earnings	(17,376)	211
Total stockholders' equity	374,474	377,693
Total liabilities and stockholders’ equity	$ 558,656	$ 534,434

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	89,050,000	87,512,000
Common stock, shares outstanding	89,050,000	87,512,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue
Total revenue	$ 63,054	$ 53,656	$ 123,637	$ 102,597
Cost of revenue
Total cost of revenue	15,709	13,376	30,578	26,146
Gross profit	47,345	40,280	93,059	76,451
Operating expenses
Research and development	13,398	10,115	26,170	19,877
General and administrative	8,490	7,743	17,627	15,400
Sales and marketing	35,536	23,774	66,024	46,233
Total operating expenses	57,424	41,632	109,821	81,510
Loss from operations	(10,079)	(1,352)	(16,762)	(5,059)
Other expense, net:
Interest income (expense), net	261	(2,800)	272	(3,978)
Other, net	(306)	(569)	(723)	(716)
Total other expense, net	(45)	(3,369)	(451)	(4,694)
Loss before income taxes	(10,124)	(4,721)	(17,213)	(9,753)
Income tax (expense) benefit	927	3,742	(374)	6,472
Net loss	(9,197)	(979)	(17,587)	(3,281)
Net loss available to common stockholders	$ (9,197)	$ (979)	$ (17,587)	$ (3,281)
Net loss per share
Basic	$ (0.10)	$ (0.01)	$ (0.20)	$ (0.04)
Diluted	$ (0.10)	$ (0.01)	$ (0.20)	$ (0.04)
Weighted average shares outstanding
Basic	88,767	86,246	88,533	85,984
Diluted	88,767	86,246	88,533	85,984
Licenses
Revenue
Total revenue	$ 19,333	$ 19,620	$ 38,002	$ 36,428
Cost of revenue
Total cost of revenue	1,015	1,260	2,074	2,398
Subscription
Revenue
Total revenue	33,711	24,110	65,546	46,615
Cost of revenue
Total cost of revenue	6,315	4,919	12,128	9,577
Service and other
Revenue
Total revenue	10,010	9,926	20,089	19,554
Cost of revenue
Total cost of revenue	$ 8,379	$ 7,197	$ 16,376	$ 14,171

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)
Stockholders' Equity Balance at Dec. 31, 2017	$ 328,397	$ 8	$ 353,609	$ (25,220)
Stockholders' Equity Balance, shares at Dec. 31, 2017		84,948
Exercise of stock options	893		893
Exercise of stock options, shares		365
Restricted stock units vested, net of tax settlement, shares		51
Stock-based compensation expense	9,255		9,255
Incentive units vested	61	$ 1	60
Incentive units vested, shares		1,232
Net loss	(3,281)			(3,281)
Stockholders' Equity Balance at Jun. 30, 2018	357,086	$ 9	363,817	(6,740)
Stockholders' Equity Balance, shares at Jun. 30, 2018		86,596
Stockholders' Equity Balance at Mar. 31, 2018	353,107	$ 9	358,859	(5,761)
Stockholders' Equity Balance, shares at Mar. 31, 2018		85,953
Exercise of stock options	831		831
Exercise of stock options, shares		339
Restricted stock units vested, net of tax settlement, shares		51
Stock-based compensation expense	4,116		4,116
Incentive units vested	11		11
Incentive units vested, shares		253
Net loss	(979)			(979)
Stockholders' Equity Balance at Jun. 30, 2018	357,086	$ 9	363,817	(6,740)
Stockholders' Equity Balance, shares at Jun. 30, 2018		86,596
Cumulative effect adjustment from the adoption of ASC 606 | Accounting Standards Update 2014-09	21,761			21,761
Stockholders' Equity Balance at Dec. 31, 2018	377,693	$ 9	377,473	211
Stockholders' Equity Balance, shares at Dec. 31, 2018		87,512
Exercise of stock options	1,796		1,796
Exercise of stock options, shares		488
Restricted stock units vested, net of tax settlement, shares		124
Stock-based compensation expense	9,609		9,609
Incentive units vested	37		37
Incentive units vested, shares		724
Common stock issued under employee stock plan	2,926		2,926
Common stock issued under employee stock plan, net, shares		202
Net loss	(17,587)			(17,587)
Stockholders' Equity Balance at Jun. 30, 2019	374,474	$ 9	391,841	(17,376)
Stockholders' Equity Balance, shares at Jun. 30, 2019		89,050
Stockholders' Equity Balance at Mar. 31, 2019	375,151	$ 9	383,321	(8,179)
Stockholders' Equity Balance, shares at Mar. 31, 2019		88,598
Exercise of stock options	624		624
Exercise of stock options, shares		217
Restricted stock units vested, net of tax settlement, shares		33
Stock-based compensation expense	4,970		4,970
Common stock issued under employee stock plan	2,926		2,926
Common stock issued under employee stock plan, net, shares		202
Net loss	(9,197)			(9,197)
Stockholders' Equity Balance at Jun. 30, 2019	$ 374,474	$ 9	$ 391,841	$ (17,376)
Stockholders' Equity Balance, shares at Jun. 30, 2019		89,050

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating activities
Net loss	$ (17,587)	$ (3,281)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization expense	6,890	5,278
Amortization of debt issuance costs	51	191
Amortization of contract acquisition costs	4,691	3,401
Loss on modification and partial extinguishment of debt		1,536
Gain on disposal of fixed assets	(21)	(48)
Bad debt expense	89	175
Stock-based compensation expense	9,609	9,255
Operating leases, net	443
Net changes in operating assets and liabilities
Accounts receivable	30,767	17,869
Prepayments and other current assets	(6,131)	(4,869)
Other non-current assets	(1,820)	(655)
Accounts payable	(1,192)	663
Accrued expenses and other liabilities	(3,531)	(10,024)
Income taxes	(1,552)	(7,529)
Deferred revenue	1,123	14,645
Net cash provided by operating activities	21,829	26,607
Investing activities
Purchase of property and equipment	(3,623)	(1,405)
Proceeds from sale of property and equipment	17	8
Net cash used in investing activities	(3,606)	(1,397)
Financing activities
Debt issuance costs	(829)
Repayment of debt		(60,000)
Prepayment penalty and fees		(300)
Repurchase of equity shares		(1)
Proceeds from employee stock purchase plan contributions	2,926
Exercise of stock options	1,796	893
Net cash provided by (used in) financing activities	3,893	(59,408)
Net increase (decrease) in cash, cash equivalents and restricted cash	22,116	(34,198)
Cash, cash equivalents and restricted cash, beginning of period	77,236	116,127
Cash, cash equivalents and restricted cash, end of period	$ 99,352	$ 81,929

Organization and Description of

Organization and Description of Business	6 Months Ended
	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Description of Business	1. Organization and Description of Business SailPoint Technologies Holdings, Inc. (“we,” “our,” “the Company” or “SailPoint”) was incorporated in the state of Delaware on August 8, 2014, in preparation for the purchase of SailPoint Technologies, Inc. The purchase (the “Acquisition”) occurred on September 8, 2014

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated interim financial statements have been prepared in accordance with Article 10 of Regulation S-X, “Interim Financial Statements” and the rules and regulations for Form 10-Q of the Securities and Exchange Commission (the “SEC”). Pursuant to those rules and regulations, the Company has condensed or omitted certain information and footnote disclosures it normally includes in its annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of operations, statements of stockholders’ equity and the statements of cash flows for the interim periods but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2019 or any future period. Our unaudited condensed consolidated financial statements have been prepared in a manner consistent with the accounting principles described in our Company’s Annual Report on Form 10-K for the year ended December 31, 2018, which was filed with the SEC on March 18, 2019 (the “Annual Report”). These financial statements and accompanying notes should be read in conjunction with the consolidated financial statements and notes thereto in the Company’s Annual Report. All intercompany accounts and transactions have been eliminated in consolidation. Cash, Cash Equivalents and Restricted Cash We consider all highly liquid investments with an original maturity of three months or less from date of purchase to be cash equivalents. The Company is required to maintain a small amount of restricted cash to guarantee rent payments in a foreign subsidiary as well as $6.0 million of cash collateral for an unconditional standby letter of credit related to the Company’s corporate headquarters lease. As of June 30, 2019 December 31, 2018 (In thousands) Cash and cash equivalents per balance sheet $ 93,049 $ 70,964 Restricted cash per balance sheet 6,303 6,272 Cash, cash equivalents and restricted cash per cash flow $ 99,352 $ 77,236 Segment Information and Concentration of Credit and Other Risks Segment Information The Company operates as one operating segment. The Company’s chief operating decision makers review financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance and allocating resources. ASC 280, “Segment Reporting,” establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision makers in deciding how to allocate resources and in assessing performance. The Company manages its business on the basis of one reportable segment, and derives revenues from licensing of software, subscription and renewals, sale of professional services, maintenance and technical support. The following table sets forth the Company’s consolidated revenue by geography: Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (In thousands) United States $ 44,399 $ 33,954 $ 85,959 $ 66,315 EMEA (1) 12,332 13,232 26,269 24,551 Rest of the World (1) 6,323 6,470 11,409 11,731 Total revenue $ 63,054 $ 53,656 $ 123,637 $ 102,597 (1) No single country represented more than 10% Concentration of Credit Risk and Other Risks Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents and accounts receivable. The Company maintains its cash in bank deposit accounts that, at times, may exceed federally insured limits. As of June 30, 2019, no single entity represented more than 10% of the balance in accounts receivable. As of December 31, 2018, 11%, of the Company’s accounts receivable was from one customer. Management considers concentration of credit risk to be minimal with respect to accounts receivable due to the positive historical collection experience of the Company despite the geographic concentrations related to the Company’s customers. No single customer represented more than 10% of revenue for three and six months ended June 30, 2019 and 2018. The Company does not experience concentration of credit risk in foreign countries as no single foreign country represents more than 10% of the Company’s consolidated revenues or net assets. Significant Accounting Policies The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes in the Annual Report, most notably Note 2 “Summary of Significant Accounting Policies”. In 2019, the Company adopted Accounting Standards Update 2016-02, “ Leases Note 5 “Commitments and Contingencies” below. Services and Other Revenues While there are no changes to the policy, the Company provides the following additional clarification regarding the revenue for fixed price services and prepaids that are recognized over time using input methods to estimate progress to completion. For services that are contracted for at a fixed price, progress is generally measured based on hours incurred as a percentage of the total estimated hours required for complete satisfaction of the related performance obligations. For services that are contracted on a time and materials or prepaid basis, progress is generally based on actual hours expended. These input methods (e.g. hours incurred or expended) are considered a faithful depiction of our efforts to satisfy services contracts as they represent the performance obligation consumed by the customer and performed by the entity and therefore reflect the transfer of services to a customer under such contracts. Deferred Contract Acquisition Costs While there are no changes to the policy, the Company provides the following additional clarification regarding the incremental costs of obtaining a contract, such as deferred sales commission costs, in particular upon contract renewals. The Company typically pays sales commissions for both initial and follow-on sales of perpetual licenses, inclusive of initial maintenance, term licenses and subscription offerings. Initial commissions are allocated to each performance obligation within the contract. The portion allocated to the perpetual license element is expensed at the time the license is delivered. Commissions allocated to the remaining elements are capitalized and amortized over an expected period of benefit. The Company has determined the expected period of benefit to be approximately five years. In addition, the Company pays sales commissions for renewals of term licenses and subscription offerings at a lower rate, which is therefore not commensurate with commissions paid on an initial sale. These renewal commissions are amortized over each renewal’s contractual term. The Company does not pay sales commissions on renewals of maintenance agreements related to perpetual licenses. Recently Issued Accounting Standards Not Yet Adopted In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40) Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02 and subsequent updates thereafter in ASU 2017-13, ASU 2018-10 and ASU 2018-11, Leases On January 1, 2019, we adopted ASC 842 using the modified retrospective transition method The adoption of the new standard represents a change in accounting principle with the intent to increase transparency and comparability among organizations by requiring the recognition of ROU assets and lease liabilities on the balance sheet. Most prominent among the changes in the standard is the recognition of ROU assets and lease liabilities by lessees for those leases classified as operating leases. Under the standard, disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. We have made an accounting policy election not to recognize ROU assets and lease liabilities that arise from short-term leases for any class of underlying asset. The standard did not have a material impact on our condensed consolidated statements of operations or statements of cash flows. However, upon adoption of ASC 842 the opening impact on our condensed consolidated balance sheets was not material, but it resulted in recording ROU assets and an increase in total lease liabilities of $3.5 million In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (ASC 718): Improvements to Nonemployee Share-Based Payment Accounting (ASU 2018-07)

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2019
Revenue Recognition [Abstract]
Revenue Recognition	3. Revenue Recognition ASC 606 Adoption and Impact to Previously Reported Results During the year ended December 31, 2018, we adopted ASU 2014-09, Revenue from Contracts with Customers (ASC 606) Disaggregation of R evenue The Company’s revenue by geographic region based on the customer’s location is presented in Note 2 “Summary of Significant Accounting Policies” above. The following table presents the Company’s revenue by timing of revenue recognition to understand the risks of timing of transfer of control: Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 Services Services License Subscription and other License Subscription and other (in thousands) Timing of revenue recognition Revenue recognized at a point in time $ 19,333 $ — $ — $ 19,620 $ — $ — Revenue recognized over time — 33,711 10,010 — 24,110 9,926 Total revenue $ 19,333 $ 33,711 $ 10,010 $ 19,620 $ 24,110 $ 9,926 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Services Services License Subscription and other License Subscription and other (in thousands) Timing of revenue recognition Revenue recognized at a point in time $ 38,002 $ — $ — $ 36,428 $ — $ — Revenue recognized over time — 65,546 20,089 — 46,615 19,554 Total revenue $ 38,002 $ 65,546 $ 20,089 $ 36,428 $ 46,615 $ 19,554 Contract Balances A summary of the activity impacting our contract balances during the period ended June 30, 2019 is presented below (in thousands): Contract acquisition costs Balances at December 31, 2018 $ 28,043 Additional deferred contract acquisition costs 5,283 Amortization of deferred contract acquisition costs (4,691 ) Balances at June 30, 2019 $ 28,635 Deferred revenue (current) Deferred revenue (non-current) Balances at December 31, 2018 $ 95,919 $ 18,382 Increase (decrease), net (423 ) 1,546 Balances at June 30, 2019 $ 95,496 $ 19,928 Deferred revenue, which is a contract liability, consists primarily of payments received in advance of revenue recognition under the Company’s contracts with customers and is recognized as the revenue recognition criteria are met. During the three and six months ended June 30, 2019, revenue recognized that was previously deferred was approximately $39.0 million and $68.8 million, respectively, compared to revenue recognized that was previously deferred of approximately $26.2 million and $45.4 million during the three months ended June 30, 2018 and the period from January 1, 2018, the date of ASC 606 adoption, to June 30, 2018, respectively. The difference between the opening and closing balances of the Company’s contract assets and deferred revenue primarily results from the timing difference between the Company’s performance and the customer billings. Contract assets primarily relate to unbilled amounts, which are netted with deferred revenue at contract level, and typically result from sales contracts when revenue recognized exceeds the amount billed to the customer, and the right to payment is subject to more than the passage of time. Contract assets are transferred to accounts receivable when the rights become unconditional and the customer is billed. Contract assets are included in prepayments and other current assets and other non-current assets in the condensed consolidated balance sheets. Remaining P erformance O bligation s Our contracts with customers include amounts allocated to performance obligations that will be satisfied at a later date. These remaining performance obligations represent contract revenue that has not yet been recognized and is included in deferred revenue, the balance of which includes both invoices that have been issued to customers but have not been recognized as revenue and amounts that will be invoiced and recognized as revenue in future periods. As of June 30, 2019, amounts allocated to these additional performance obligations are $169.3 million, of which we expect to recognize $115.2 million as revenue over the next 12 months with the remaining balance recognized thereafter. Assets Recognized from the Costs to Obtain our Contracts with Customers As of June 30, 2019, and December 31, 2018, $9.0 million and $8.4 million, respectively, of our deferred contract acquisition costs are included in prepayments and other current assets as they are expected to be amortized within the next 12 months. The remaining amount of our deferred contract acquisition costs are included in other non-current assets. The balance of deferred contract acquisition costs, which primarily consists of cumulative capitalized costs to obtain contracts was $28.6 million and $28.0 million at June 30, 2019 and December 31, 2018, respectively. For the three and six months ended June 30, 2019, amortization of deferred contract acquisition costs of $2.5 million and $4.7 million was recorded for the respective periods. For the three and six months ended June 30, 2018, amortization of deferred contract acquisition costs of $1.7 million and $3.4 million was recorded for the respective periods. There were no material impairments of assets related to deferred contract acquisition costs during the periods ended June 30, 2019 and 2018.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	4. Intangible Assets Total cost and amortization of intangible assets are comprised of the following: As of Weighted Average Useful Life June 30, 2019 December 31, 2018 Intangible assets (In years) (In thousands) Customer lists 15 $ 42,500 $ 42,500 Developed technology 9.6 42,000 42,000 Trade names and trademarks 17 24,500 24,500 Order backlog 1.5 — 1,100 Other intangible assets 4.9 3,310 3,310 Total intangible assets 112,310 113,410 Less: Accumulated amortization (42,112 ) (38,550 ) Total intangible assets, net $ 70,198 $ 74,860 Amortization expense included in the condensed consolidated statements of operations for the periods ended June 30, 2019 and 2018 is as follows: Three Months Ended Six Months Ended Amortization expense (in thousands) June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 Cost of revenue - licenses $ 1,008 $ 1,008 $ 2,016 $ 2,016 Cost of revenue - subscription 96 96 192 192 Research and development 159 34 318 68 Sales and marketing 1,068 1,068 2,136 2,136 Total amortization of acquired intangibles $ 2,331 $ 2,206 $ 4,662 $ 4,412 Periodically, the Company evaluates intangible assets for possible impairment. There were no impairments of intangible assets during the periods ended June 30, 2019 and 2018.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	5. Commitments and Contingencies Operating Leases Right-of-use (“ROU”) assets and lease liabilities are recognized at the present value of future lease payments over the lease term. As of June 30, 2019, our leases have remaining lease terms of less than one year to ten years. Certain leases include early termination and/or extension options; however, exercises of these options are at the Company’s sole discretion. As of June 30, 2019, the Company determined it is not reasonably certain it will exercise the options to extend its leases or terminate them early. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants and as of June 30, 2019, the Company is not subleasing to any third parties. The rates implicit in the Company’s leases are not readily determinable. Therefore, in order to value the Company’s lease liabilities, the Company uses an incremental borrowing rate which reflects the fixed rate at which the Company could borrow a similar amount in the same currency, for the same term, and with similar collateral as in the lease at the commencement date. The result of adoption of ASC 842 was an increase in ROU assets and total lease liabilities of $3.5 million on the Company’s condensed consolidated balance sheet. ASC 842 did not have a material impact on our condensed consolidated statements of operations and statements of cash flows. As of June 30, 2019, the Company measures its lease liabilities at the net present value of the remaining lease payments discounted at the weighted average discount rate of 4.12%. The weighted average remaining term of the Company’s operating leases is 9.2 years. As of June 30, 2019, the total lease liabilities are $42.4 million, $3.6 million of which is included in accrued expenses and other current liabilities and $38.8 million is included as long-term operating lease liabilities on the condensed consolidated balance sheet. As of June 30, 2019, the ROU asset balance is $31.3 million. Operating lease costs during the periods presented were as follows: Three Months Ended Six Months Ended June 30, 2019 June 30, 2019 (in thousands) Lease cost Operating lease cost $ 1,469 $ 2,787 Short-term lease cost 719 862 Total lease cost $ 2,188 $ 3,649 Facilities costs (including rent and utilities) are considered shared costs and are allocated to departments based on headcount. As such, allocated shared costs are reflected in each cost of revenue and operating expense category. Total rent expense recognized was approximately $1.0 million and $1.9 million for the three and six months ended June 30, 2018, respectively. Other supplemental cash flow information related to operating leases is as follows: Three Months Ended Six Months Ended June 30, 2019 June 30, 2019 (in millions) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 1.3 $ 2.2 Right-of-use assets obtained in exchange for lease liabilities Operating leases $ — $ 30.4 At June 30, 2019, we have no financing leases and we have non-cancelable operating lease commitments, excluding variable consideration. The undiscounted annual future minimum lease payments are summarized by year in the table below: Year Ending December 31, (in thousands) 2019 (except the six months ended June 30) $ 2,485 2020 5,226 2021 5,499 2022 5,468 2023 4,972 Thereafter 27,030 Total minimum lease payments 50,680 Less: interest (8,261 ) Total present value of operating lease liabilities $ 42,419 Less: operating lease liabilities - current $ (3,606 ) Long-term operating lease liabilities $ 38,813

Line of Credit and Long-Term De

Line of Credit and Long-Term Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Line of Credit and Long-Term Debt	6. Line of Credit and Long-Term Debt On March 11, 2019, SailPoint Technologies, Inc., as borrower, and certain of our other wholly owned subsidiaries entered into a credit agreement (the “Credit Agreement”). The Credit Agreement is guaranteed by SailPoint Technologies Intermediate Holdings, LLC, a wholly owned subsidiary, and the Borrower’s material domestic subsidiaries (the “Guarantors” and, together with the Borrower, the “Loan Parties”) and is supported by a security interest in substantially all of the Loan Parties’ personal property and assets. The credit agreement provides for an initial $150.0 million in commitments for revolving credit loans, with a $15.0 million letter of credit sublimit, which amount can be increased or decreased under certain circumstances and is subject to certain financial covenants. In addition, the credit agreement provides for the ability to incur uncommitted term loan facilities if, among other things, the Senior Secured Net Leverage Ratio (as defined in our credit agreement), calculated giving pro forma effect to the requested term loan facility, is no greater than 3.50 to 1.00, provided that such financial covenant level shall be increased to 4.00 to 1.00 during a fiscal quarter in which a Material Acquisition (as defined in the Credit Agreement) has been consummated. Borrowings pursuant to the Credit Agreement may be used for working capital and other general corporate purposes, including acquisitions permitted under the Credit Agreement. The Credit Agreement contains certain customary representations and warranties and affirmative and negative covenants, including certain restrictions on the ability of the Loan Parties and their Restricted Subsidiaries (as defined in the Credit Agreement) to incur additional indebtedness or guarantee indebtedness of others; create liens on properties or assets; merge, consolidate, or dissolve; make certain loans or investments; sell or dispose of assets; enter into sale and leaseback transactions; pay dividends and other restricted payments; or enter into transactions with affiliates. The agreement has established priority for the lenders party over all assets of the Company. Borrowings under our credit agreement are scheduled to mature in March 2024. Any borrowing under our credit agreement may be repaid, in whole or in part, at any time and from time to time without premium or penalty other than customary breakage costs, and any amounts repaid may be reborrowed. No mandatory prepayments will be required other than when borrowings and letter of credit usage exceed the aggregate commitments of all lenders. Payment of the borrowings may be accelerated upon the occurrence of certain customary events of default specified in the Credit Agreement, which includes failure to make payments relating to the borrowings under the Credit Agreement when due, the material inaccuracy of representations or warranties, failures to perform certain affirmative covenants, failures to refrain from actions or omissions prohibited by negative covenants, cross-defaults, bankruptcy and insolvency-related events, certain judgments, certain ERISA-related events and a Change in Control (as defined in the Credit Agreement). The interest rates applicable to revolving credit loans under our Credit Agreement are, at the borrower’s option, either (i) a base rate, which is equal to the greatest of (a) the Prime Rate (as defined in our credit agreement), (b) the Federal Funds Effective Rate (as defined in our Credit Agreement) plus 1/2 of 1%, and (c) the one-month Adjusted LIBO Rate (as defined in our Credit Agreement) plus 1%, in each case, plus an interest margin ranging from 0.25% to 0.75% based on the Senior Secured Net Leverage Ratio, or (ii) the Adjusted LIBO Rate plus an interest margin ranging from 1.25% to 1.75% based on the Senior Secured Net Leverage Ratio. The Adjusted LIBO Rate cannot be less than zero. The borrower will pay an unused commitment fee during the term of our Credit Agreement ranging from 0.20% to 0.30% per annum based on the Senior Secured Net Leverage Ratio. The Company had no outstanding revolving credit loan balance as of June 30, 2019 and December 31, 2018. The Company was in compliance with all applicable covenants as of June 30, 2019. The Company incurred total debt issuance costs of approximately interest condensed

Stock Option Plans and Stock-Ba

Stock Option Plans and Stock-Based Compensation	6 Months Ended
	Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Option Plans and Stock-Based Compensation	7. Stock Option Plans and Stock-Based Compensation 2015 Stock Option Plans In 2015, the Company adopted (i) the Amended and Restated 2015 Stock Option and Grant Plan and (ii) the 2015 Stock Incentive Plan (together the “2015 Stock Option Plans”) under which it may grant incentive stock options (“ISOs”), nonqualified stock options (“NSOs”) for the right to purchase shares of common stock and grant restricted stock units. The 2015 Stock Option Plans reserve 5.0 million shares of common stock for issuance as ISOs, 0.5 million shares of restricted stock and 0.25 million shares for issuance under the 2015 Stock Incentive Plan. Under the 2015 Stock Option Plans, ISOs may not be granted at less than fair market value on the date of the grant and generally vest over a four-year period based on continued service. Options generally expire ten years after the grant date. At June 30, 2019, approximately 564,000 shares were available for issuance under the Amended and Restated 2015 Stock Option and Grant Plan and includes approximately 90,000 shares which were available for issuance under the 2015 Stock Incentive Plan. The Company currently uses authorized and unissued shares to satisfy share award exercises. 2017 Long Term Incentive Plan In November 2017, the Company’s Board of Directors adopted the 2017 Long Term Incentive Plan (the “2017 Plan”) under which it may grant stock options, nonqualified stock options to purchase shares of common stock and restricted stock units (“RSUs”). As of June 30, 2019, the Company had reserved approximately 13.3 million shares of common stock available for issuance under the 2017 Plan to employees, directors, officers and consultants of the Company and its subsidiaries. The number of shares of common stock available for issuance under the 2017 Plan will be increased on each January 1 hereafter by approximately 4.4 million shares of common stock. Options and RSUs granted to employees under the 2017 Plan generally vest over four years. Common stock subject to an award that expires or is canceled, forfeited, exchanged or otherwise terminated without delivery of shares, and shares withheld or surrendered to pay the exercise price of, or to satisfy the withholding obligations with respect to an award, will become available for future grants under the 2017 Plan. At June 30, 2019, approximately 9.0 million shares were available for issuance under the 2017 Plan. The Company currently uses authorized and unissued shares to satisfy share award exercises. The fair value for the Company’s stock options granted and Employee Stock Purchase Plan (the "ESPP") purchase rights, as discussed further below, during the six months ended June 30, 2019 and 2018 was estimated at grant date using a Black Scholes option-pricing model using the following weighted average assumptions: Stock Options ESPP June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 Expected dividend rate 0% 0% 0% NA Expected volatility 39.3% - 39.8% 40.0% - 41.1% 39.8% - 46.0% NA Risk-free interest rate 1.84% - 2.59% 2.63% - 2.91% 2.29 - 2.44% NA Expected term (in years) 6.25 6.25 0.42 - 0.50 NA The following table summarizes stock option activity for the period ended June 30, 2019: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (per share) (years) (in thousands) Balances at December 31, 2018 2,817 $ 6.64 8.0 $ 47,589 Granted 818 $ 28.15 Exercised (488 ) $ 3.67 Forfeited (51 ) $ 7.53 Balances at June 30, 2019 3,096 $ 12.78 8.2 $ 29,695 Options vested and expected to vest at June 30, 2019 3,096 $ 12.78 8.2 $ 29,695 Options vested and exercisable at June 30, 2019 1,108 $ 5.55 7.2 $ 16,098 The Company expects all outstanding stock options to fully vest, except for stock options related to the resignation of our Chief Revenue Officer. The weighted average grant date fair value per share for the six months ended June 30, 2019 and 2018 was $12.06 and $9.19, respectively. Stock-based compensation expense relating to stock options was approximately $1.4 million and $2.6 million for the three and six months ended June 30, 2019, respectively, compared to approximately $0.7 million and $2.5 million for the three and six months ended June 30, 2018, respectively. The total fair value of shares vested during the three and six months ended June 30, 2019 was approximately $0.5 million and $2.9 million, respectively, compared to approximately $0.2 million and $0.6 million for the three and six months ended June 30, 2018, respectively. The total unrecognized compensation expense related to non-vested stock options granted is $14.5 million and is expected to be recognized over a weighted average period of approximately 2.6 years as of June 30, 2019. Incentive Unit Plan In 2014 and 2015, the Company granted shares of the Company’s common stock (the “incentive units”) to certain members of management pursuant to restricted stock agreements (the “RSAs”). The incentive units were granted with an exercise price equal to the fair market value on the date of grant, are subject to vesting, and if exercised in advance of vesting were subject to the Company’s right to repurchase until vested. During the first quarter of 2019, all of the remaining 0.7 million units were vested with a weighted average grant date fair value of $0.05 per share. The Company did not grant any additional incentive units during the three and six months ended June 30, 2019 and 2018. As of March 31, 2019, all incentive units were vested. Therefore, we incurred no additional stock-based compensation expense for the three months ended June 30, 2019. Stock-based compensation expense was $0.4 million for the six months ended June 30, 2019. Stock-based compensation expense was approximately $2.1 million and $4.3 million for the three and six months ended June 30, 2018, respectively. Restricted Stock Units Restricted stock units (“RSUs”) are generally subject to forfeiture if employment terminates prior to the vesting date. We expense the cost of the RSUs, which is determined to be the fair market value of the shares of common stock underlying the RSUs on the date of grant, ratably over the period during which the vesting restrictions lapse. The following table provides a summary of the restricted stock unit for employees and non-employees for the period ended June 30, 2019: Number of Shares Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (per share) (years) (in thousands) Balances at December 31, 2018 1,148 $ 15.40 1.8 26,967 Granted 1,027 $ 29.25 Vested (124 ) $ 19.26 Forfeited (66 ) $ 19.95 Balances at June 30, 2019 1,985 $ 22.18 1.8 39,777 Units expected to vest at June 30, 2019 1,985 $ 22.18 1.8 39,777 The Company expects all outstanding RSUs to fully vest, except for RSUs related to the resignation of our Chief Revenue Officer. Stock-based compensation expense relating to restricted stock units was approximately $3.0 million and $5.4 million for the three and six months ended June 30, 2019, respectively, compared to approximately $1.3 million and $2.5 million for the three and six months ended June 30, 2018, respectively. During the first quarter of 2019, the Board of Directors approved accelerated vesting of restricted stock for an exiting board member that resulted in a modification and an immaterial decrease in stock-based compensation expense. The total unrecognized compensation related to RSUs for employee and non-employees was $38.7 million as of June 30, 2019 and is expected to be recognized over a weighted average period of approximately 3.1 years. Employee Stock Purchase Plan In November 2017, the Company’s Board of Directors adopted the Employee Stock Purchase Plan (the "ESPP"). The ESPP became effective November of 2017, after the date our registration statement was declared effective by the SEC. The ESPP permits eligible employees to purchase shares by authorizing payroll deductions from 1% to 15% of employee’s eligible compensation during the offering period, which is generally six months, with an annual cap of $25,000 in fair market value, determined at the grant date. Unless an employee has previously withdrawn from the offering, his or her accumulated payroll deductions will be used to purchase shares after the closing of the offering period at a price equal to 85% of the closing price of the shares at the opening or closing of the offering period, whichever is lower. During the three and six months ended June 30, 2019, the Company issued and distributed approximately 0.2 million shares of common stock pursuant the ESPP offering spanning January 2, 2019 to June 3, 2019. The current offering period is June 4, 2019 through December 2, 2019. The Company initially reserved 1.8 million shares of common stock for issuance under the ESPP. The number of shares available for issuance under the ESPP will increase each January 1 beginning in 2019 by 0.9 million shares of common stock. The ESPP will continue in effect until October 30, 2020; unless terminated prior thereto by the Company’s Board of Directors or compensation committee, each of which has the right to terminate the ESPP at any time. Stock-based compensation expense relating to the ESPP was approximately $0.5 million and $1.3 million for the three and six months ended June 30, 2019, respectively. Stock-based compensation expense associated with ESPP purchase rights are recognized on a straight-line basis over the offering period. A Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (In thousands) Stock options $ 1,392 $ 709 $ 2,636 $ 2,487 Incentive units — 2,137 351 4,269 RSUs 3,029 1,270 5,357 2,499 ESPP 549 — 1,265 — Total stock-based compensation expense $ 4,970 $ 4,116 $ 9,609 $ 9,255 A summary of the Company’s stock-based compensation expense as recognized on the condensed consolidated statements of operations is as follows: Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (In thousands) Cost of revenue - subscription $ 284 $ 253 $ 544 $ 374 Cost of revenue - services and other 380 347 729 722 Research and development 916 652 1,833 1,293 General and administrative 1,644 1,695 3,015 4,035 Sales and marketing 1,746 1,169 3,488 2,831 Total stock-based compensation expense $ 4,970 $ 4,116 $ 9,609 $ 9,255

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes Impacts of the U.S. 2017 Tax Cuts and Jobs Act The U.S. 2017 Tax Cuts and Jobs Act (the “Act”), which was signed into law on December 22, 2017 and effective January 1, 2018, reduced the U.S. federal corporate tax rate from 35% to 21%. Upon adoption, there was no net impact to the Company’s provision for income taxes or net deferred taxes due to the Company’s valuation allowance. The decrease in future tax assets via the reduced rate was offset by the decrease in our valuation allowance. The Act subjects a U.S. shareholder to tax on global intangible low-taxed income (“GILTI”) earned by certain foreign subsidiaries. Under GAAP, the Company is permitted to make an accounting policy election to either treat taxes due on future inclusions in U.S. taxable income related to GILTI as a current-period expense when incurred (the “period cost method”) or to factor such amounts into the Company’s measurement of its deferred taxes (the “deferred method”). The Company elected the "period cost method" as its accounting policy with respect to the new GILTI tax rules. For the periods ended June 30, 2019 and 2018, the Company determined it was in an aggregated net loss position with respect to its controlled foreign corporations. Thus, there is no GILTI tax liability as of June 30, 2019 and 2018. The provision for income taxes for 2019 and 2018 is generated from activity related to stock option activity and certain foreign jurisdictions by our consolidated subsidiaries. The effective tax rate for the three and six months ended June 30, 2019 is (9.2)% and 2.2%, respectively, compared to (79.3)% and (66.4)% for the three and six months ended June 30, 2018, respectively. The primary drivers for the differences in the rates from the prior-year periods to the current-year periods are related to differences in forecasted pre-tax book income, the impact of stock compensation and an increase in foreign tax liabilities. Provision for income taxes consists of U.S. and state income taxes and income taxes in certain foreign jurisdictions in which the Company conducts business. With the previous adoption of ASC 606 in 2018, the Company is in a deferred tax liability position and no longer requires a valuation allowance. The Company still maintains a full valuation allowance for our Israel tax position due the lack of taxable earnings for the foreseeable future. The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. During the three and six months ended June 30, 2019 and 2018, the Company did not record any material interest or penalties. The Company files tax returns in the U.S. federal jurisdiction, in several state jurisdictions, and in several foreign jurisdictions. The Company is no longer subject to U.S. federal income tax examinations for years before 201 5 and is no longer subject to state, local and foreign income tax examinations by tax authorities for years before 201 4 . The Company is currently under audit for income tax in a single foreign jurisdiction. The audit is ongoing and is not expected to materially impact the consolidated financial statements. The Company has a n Uncertain Tax Position reserve related to this foreign jurisdiction filing that should sufficiently cover any related assessment .

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Shareholders	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Shareholders	9. Net Loss Per Share Attributable to Common Stockholders Basic and diluted net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated using our weighted average outstanding common shares including the dilutive effect of stock awards. In periods when the Company recognizes a net loss, the Company excludes the impact of outstanding stock awards from the diluted loss per share calculation as their inclusion would have an antidilutive effect. The following table sets forth the calculation of basic and diluted net loss per share during the periods presented: Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (In thousands, except per share data) Numerator Net loss $ (9,197 ) $ (979 ) $ (17,587 ) $ (3,281 ) Net loss attributable to common stockholders $ (9,197 ) $ (979 ) $ (17,587 ) $ (3,281 ) Denominator Weighted average shares outstanding Basic 88,767 86,246 88,533 85,984 Diluted 88,767 86,246 88,533 85,984 Net loss attributable to common stockholders per share Basic $ (0.10 ) $ (0.01 ) $ (0.20 ) $ (0.04 ) Diluted $ (0.10 ) $ (0.01 ) $ (0.20 ) $ (0.04 ) The following weighted average outstanding shares of common stock equivalents were excluded from the computation of the diluted net loss per share attributable to common stockholders for the periods presented because their effect would have been anti-dilutive. Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (in thousands) Stock options to purchase common stock 1,458 3,316 3,108 3,392 Non-vested incentive units — 1,098 — 1,288 RSUs issued and outstanding 1,941 1,281 1,791 1,189 ESPP 57 — 28 — Total 3,456 5,695 4,927 5,869

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	10. Subsequent Events As previously disclosed on Form 8-K, Howard Greenfield, the former Chief Revenue Officer of SailPoint Technologies, Inc., submitted his resignation from this position to the Company. In connection with his resignation, the Company and Mr. Greenfield entered into a Separation Agreement (the “Separation Agreement”) effective on April 26, 2019. As of July 31, 2019 Mr. Greenfield has satisfied the contingent conditions specified in the Separation Agreement, and therefore is scheduled to receive, among other things, (i) a cash lump sum severance payment of $1.1 million, less applicable taxes and deductions payable in August 2019, and (ii) reimbursement for six months of insurance coverage under the Consolidated Omnibus Budget Reconciliation Act. At June 30, 2019, the total severance liability accrued was $1.1 million, which is included in accrued expenses and other on the balance sheet.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated interim financial statements have been prepared in accordance with Article 10 of Regulation S-X, “Interim Financial Statements” and the rules and regulations for Form 10-Q of the Securities and Exchange Commission (the “SEC”). Pursuant to those rules and regulations, the Company has condensed or omitted certain information and footnote disclosures it normally includes in its annual consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of operations, statements of stockholders’ equity and the statements of cash flows for the interim periods but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2019 or any future period. Our unaudited condensed consolidated financial statements have been prepared in a manner consistent with the accounting principles described in our Company’s Annual Report on Form 10-K for the year ended December 31, 2018, which was filed with the SEC on March 18, 2019 (the “Annual Report”). These financial statements and accompanying notes should be read in conjunction with the consolidated financial statements and notes thereto in the Company’s Annual Report. All intercompany accounts and transactions have been eliminated in consolidation.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash We consider all highly liquid investments with an original maturity of three months or less from date of purchase to be cash equivalents. The Company is required to maintain a small amount of restricted cash to guarantee rent payments in a foreign subsidiary as well as $6.0 million of cash collateral for an unconditional standby letter of credit related to the Company’s corporate headquarters lease. As of June 30, 2019 December 31, 2018 (In thousands) Cash and cash equivalents per balance sheet $ 93,049 $ 70,964 Restricted cash per balance sheet 6,303 6,272 Cash, cash equivalents and restricted cash per cash flow $ 99,352 $ 77,236
Segment Information and Concentration of Credit and Other Risks	Segment Information and Concentration of Credit and Other Risks Segment Information The Company operates as one operating segment. The Company’s chief operating decision makers review financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance and allocating resources. ASC 280, “Segment Reporting,” establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision makers in deciding how to allocate resources and in assessing performance. The Company manages its business on the basis of one reportable segment, and derives revenues from licensing of software, subscription and renewals, sale of professional services, maintenance and technical support. The following table sets forth the Company’s consolidated revenue by geography: Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (In thousands) United States $ 44,399 $ 33,954 $ 85,959 $ 66,315 EMEA (1) 12,332 13,232 26,269 24,551 Rest of the World (1) 6,323 6,470 11,409 11,731 Total revenue $ 63,054 $ 53,656 $ 123,637 $ 102,597 (1) No single country represented more than 10%
Concentration of Credit Risk and Other Risks	Concentration of Credit Risk and Other Risks Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents and accounts receivable. The Company maintains its cash in bank deposit accounts that, at times, may exceed federally insured limits. As of June 30, 2019, no single entity represented more than 10% of the balance in accounts receivable. As of December 31, 2018, 11%, of the Company’s accounts receivable was from one customer. Management considers concentration of credit risk to be minimal with respect to accounts receivable due to the positive historical collection experience of the Company despite the geographic concentrations related to the Company’s customers. No single customer represented more than 10% of revenue for three and six months ended June 30, 2019 and 2018. The Company does not experience concentration of credit risk in foreign countries as no single foreign country represents more than 10% of the Company’s consolidated revenues or net assets.
Significant Accounting Policies	Significant Accounting Policies The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes in the Annual Report, most notably Note 2 “Summary of Significant Accounting Policies”. In 2019, the Company adopted Accounting Standards Update 2016-02, “ Leases Note 5 “Commitments and Contingencies” below.
Services and Other Revenues	Services and Other Revenues While there are no changes to the policy, the Company provides the following additional clarification regarding the revenue for fixed price services and prepaids that are recognized over time using input methods to estimate progress to completion. For services that are contracted for at a fixed price, progress is generally measured based on hours incurred as a percentage of the total estimated hours required for complete satisfaction of the related performance obligations. For services that are contracted on a time and materials or prepaid basis, progress is generally based on actual hours expended. These input methods (e.g. hours incurred or expended) are considered a faithful depiction of our efforts to satisfy services contracts as they represent the performance obligation consumed by the customer and performed by the entity and therefore reflect the transfer of services to a customer under such contracts.
Deferred Contract Acquisition Costs	Deferred Contract Acquisition Costs While there are no changes to the policy, the Company provides the following additional clarification regarding the incremental costs of obtaining a contract, such as deferred sales commission costs, in particular upon contract renewals. The Company typically pays sales commissions for both initial and follow-on sales of perpetual licenses, inclusive of initial maintenance, term licenses and subscription offerings. Initial commissions are allocated to each performance obligation within the contract. The portion allocated to the perpetual license element is expensed at the time the license is delivered. Commissions allocated to the remaining elements are capitalized and amortized over an expected period of benefit. The Company has determined the expected period of benefit to be approximately five years. In addition, the Company pays sales commissions for renewals of term licenses and subscription offerings at a lower rate, which is therefore not commensurate with commissions paid on an initial sale. These renewal commissions are amortized over each renewal’s contractual term. The Company does not pay sales commissions on renewals of maintenance agreements related to perpetual licenses.
Recently Issued Accounting Standards Not Yet Adopted and Adopted	Recently Issued Accounting Standards Not Yet Adopted In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40) Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02 and subsequent updates thereafter in ASU 2017-13, ASU 2018-10 and ASU 2018-11, Leases On January 1, 2019, we adopted ASC 842 using the modified retrospective transition method The adoption of the new standard represents a change in accounting principle with the intent to increase transparency and comparability among organizations by requiring the recognition of ROU assets and lease liabilities on the balance sheet. Most prominent among the changes in the standard is the recognition of ROU assets and lease liabilities by lessees for those leases classified as operating leases. Under the standard, disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. We have made an accounting policy election not to recognize ROU assets and lease liabilities that arise from short-term leases for any class of underlying asset. The standard did not have a material impact on our condensed consolidated statements of operations or statements of cash flows. However, upon adoption of ASC 842 the opening impact on our condensed consolidated balance sheets was not material, but it resulted in recording ROU assets and an increase in total lease liabilities of $3.5 million In June 2018, the FASB issued ASU 2018-07, Compensation—Stock Compensation (ASC 718): Improvements to Nonemployee Share-Based Payment Accounting (ASU 2018-07)

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Summary of Cash, Cash Equivalents and Restricted Cash	We consider all highly liquid investments with an original maturity of three months or less from date of purchase to be cash equivalents. The Company is required to maintain a small amount of restricted cash to guarantee rent payments in a foreign subsidiary as well as $6.0 million of cash collateral for an unconditional standby letter of credit related to the Company’s corporate headquarters lease. As of June 30, 2019 December 31, 2018 (In thousands) Cash and cash equivalents per balance sheet $ 93,049 $ 70,964 Restricted cash per balance sheet 6,303 6,272 Cash, cash equivalents and restricted cash per cash flow $ 99,352 $ 77,236
Summary of Consolidated Total Revenue by Geography	The following table sets forth the Company’s consolidated revenue by geography: Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (In thousands) United States $ 44,399 $ 33,954 $ 85,959 $ 66,315 EMEA (1) 12,332 13,232 26,269 24,551 Rest of the World (1) 6,323 6,470 11,409 11,731 Total revenue $ 63,054 $ 53,656 $ 123,637 $ 102,597 (1) No single country represented more than 10%

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue Recognition [Abstract]
Schedule of Timing of Transfer of Control	The following table presents the Company’s revenue by timing of revenue recognition to understand the risks of timing of transfer of control: Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 Services Services License Subscription and other License Subscription and other (in thousands) Timing of revenue recognition Revenue recognized at a point in time $ 19,333 $ — $ — $ 19,620 $ — $ — Revenue recognized over time — 33,711 10,010 — 24,110 9,926 Total revenue $ 19,333 $ 33,711 $ 10,010 $ 19,620 $ 24,110 $ 9,926 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Services Services License Subscription and other License Subscription and other (in thousands) Timing of revenue recognition Revenue recognized at a point in time $ 38,002 $ — $ — $ 36,428 $ — $ — Revenue recognized over time — 65,546 20,089 — 46,615 19,554 Total revenue $ 38,002 $ 65,546 $ 20,089 $ 36,428 $ 46,615 $ 19,554
Summary of Contract Balances	A summary of the activity impacting our contract balances during the period ended June 30, 2019 is presented below (in thousands): Contract acquisition costs Balances at December 31, 2018 $ 28,043 Additional deferred contract acquisition costs 5,283 Amortization of deferred contract acquisition costs (4,691 ) Balances at June 30, 2019 $ 28,635 Deferred revenue (current) Deferred revenue (non-current) Balances at December 31, 2018 $ 95,919 $ 18,382 Increase (decrease), net (423 ) 1,546 Balances at June 30, 2019 $ 95,496 $ 19,928

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Cost and Amortization of Intangible Assets	Total cost and amortization of intangible assets are comprised of the following: As of Weighted Average Useful Life June 30, 2019 December 31, 2018 Intangible assets (In years) (In thousands) Customer lists 15 $ 42,500 $ 42,500 Developed technology 9.6 42,000 42,000 Trade names and trademarks 17 24,500 24,500 Order backlog 1.5 — 1,100 Other intangible assets 4.9 3,310 3,310 Total intangible assets 112,310 113,410 Less: Accumulated amortization (42,112 ) (38,550 ) Total intangible assets, net $ 70,198 $ 74,860
Summary of Amortization Expense Included in Condensed Consolidated Statements of Operations	Amortization expense included in the condensed consolidated statements of operations for the periods ended June 30, 2019 and 2018 is as follows: Three Months Ended Six Months Ended Amortization expense (in thousands) June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 Cost of revenue - licenses $ 1,008 $ 1,008 $ 2,016 $ 2,016 Cost of revenue - subscription 96 96 192 192 Research and development 159 34 318 68 Sales and marketing 1,068 1,068 2,136 2,136 Total amortization of acquired intangibles $ 2,331 $ 2,206 $ 4,662 $ 4,412

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Summary of Operating Lease Costs and Other Supplemental Cash Flow Information Related to Operating Leases	Operating lease costs during the periods presented were as follows: Three Months Ended Six Months Ended June 30, 2019 June 30, 2019 (in thousands) Lease cost Operating lease cost $ 1,469 $ 2,787 Short-term lease cost 719 862 Total lease cost $ 2,188 $ 3,649 Other supplemental cash flow information related to operating leases is as follows: Three Months Ended Six Months Ended June 30, 2019 June 30, 2019 (in millions) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 1.3 $ 2.2 Right-of-use assets obtained in exchange for lease liabilities Operating leases $ — $ 30.4
Summary of Undiscounted Annual Future Minimum Lease Payments	At June 30, 2019, we have no financing leases and we have non-cancelable operating lease commitments, excluding variable consideration. The undiscounted annual future minimum lease payments are summarized by year in the table below: Year Ending December 31, (in thousands) 2019 (except the six months ended June 30) $ 2,485 2020 5,226 2021 5,499 2022 5,468 2023 4,972 Thereafter 27,030 Total minimum lease payments 50,680 Less: interest (8,261 ) Total present value of operating lease liabilities $ 42,419 Less: operating lease liabilities - current $ (3,606 ) Long-term operating lease liabilities $ 38,813

Stock Option Plans and Stock-_2

Stock Option Plans and Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Fair Value of Stock Options Estimated by Using Weighted Average Assumptions	The fair value for the Company’s stock options granted and Employee Stock Purchase Plan (the "ESPP") purchase rights, as discussed further below, during the six months ended June 30, 2019 and 2018 was estimated at grant date using a Black Scholes option-pricing model using the following weighted average assumptions: Stock Options ESPP June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 Expected dividend rate 0% 0% 0% NA Expected volatility 39.3% - 39.8% 40.0% - 41.1% 39.8% - 46.0% NA Risk-free interest rate 1.84% - 2.59% 2.63% - 2.91% 2.29 - 2.44% NA Expected term (in years) 6.25 6.25 0.42 - 0.50 NA
Summary of Stock Option Activity	The following table summarizes stock option activity for the period ended June 30, 2019: Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (per share) (years) (in thousands) Balances at December 31, 2018 2,817 $ 6.64 8.0 $ 47,589 Granted 818 $ 28.15 Exercised (488 ) $ 3.67 Forfeited (51 ) $ 7.53 Balances at June 30, 2019 3,096 $ 12.78 8.2 $ 29,695 Options vested and expected to vest at June 30, 2019 3,096 $ 12.78 8.2 $ 29,695 Options vested and exercisable at June 30, 2019 1,108 $ 5.55 7.2 $ 16,098
Summary of Restricted Stock Unit for Employees and Non-employees	The following table provides a summary of the restricted stock unit for employees and non-employees for the period ended June 30, 2019: Number of Shares Weighted Average Grant Date Fair Value Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (per share) (years) (in thousands) Balances at December 31, 2018 1,148 $ 15.40 1.8 26,967 Granted 1,027 $ 29.25 Vested (124 ) $ 19.26 Forfeited (66 ) $ 19.95 Balances at June 30, 2019 1,985 $ 22.18 1.8 39,777 Units expected to vest at June 30, 2019 1,985 $ 22.18 1.8 39,777
Summary of Stock-Based Compensation Expense By Underlying Equity Instrument	A Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (In thousands) Stock options $ 1,392 $ 709 $ 2,636 $ 2,487 Incentive units — 2,137 351 4,269 RSUs 3,029 1,270 5,357 2,499 ESPP 549 — 1,265 — Total stock-based compensation expense $ 4,970 $ 4,116 $ 9,609 $ 9,255
Summary of Stock-Based Compensation Expense	A summary of the Company’s stock-based compensation expense as recognized on the condensed consolidated statements of operations is as follows: Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (In thousands) Cost of revenue - subscription $ 284 $ 253 $ 544 $ 374 Cost of revenue - services and other 380 347 729 722 Research and development 916 652 1,833 1,293 General and administrative 1,644 1,695 3,015 4,035 Sales and marketing 1,746 1,169 3,488 2,831 Total stock-based compensation expense $ 4,970 $ 4,116 $ 9,609 $ 9,255

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Shareholders (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted Net Loss Per Share	The following table sets forth the calculation of basic and diluted net loss per share during the periods presented: Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (In thousands, except per share data) Numerator Net loss $ (9,197 ) $ (979 ) $ (17,587 ) $ (3,281 ) Net loss attributable to common stockholders $ (9,197 ) $ (979 ) $ (17,587 ) $ (3,281 ) Denominator Weighted average shares outstanding Basic 88,767 86,246 88,533 85,984 Diluted 88,767 86,246 88,533 85,984 Net loss attributable to common stockholders per share Basic $ (0.10 ) $ (0.01 ) $ (0.20 ) $ (0.04 ) Diluted $ (0.10 ) $ (0.01 ) $ (0.20 ) $ (0.04 )
Weighted Average Outstanding Shares of Common Stock Equivalents Excluded from the Computation of the Diluted Net Loss per Share	The following weighted average outstanding shares of common stock equivalents were excluded from the computation of the diluted net loss per share attributable to common stockholders for the periods presented because their effect would have been anti-dilutive. Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 (in thousands) Stock options to purchase common stock 1,458 3,316 3,108 3,392 Non-vested incentive units — 1,098 — 1,288 RSUs issued and outstanding 1,941 1,281 1,791 1,189 ESPP 57 — 28 — Total 3,456 5,695 4,927 5,869

Organization and Description _2

Organization and Description of Business - Additional Information (Details)	6 Months Ended
	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Date of incorporation	Aug. 8, 2014
State of incorporation	Delaware

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) $ in Millions	Jan. 01, 2019USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018	Jun. 30, 2019USD ($)Segment	Jun. 30, 2018	Dec. 31, 2018
Summary Of Significant Accounting Policies [Line Items]
Number of operating segments | Segment				1
ASC 842
Summary Of Significant Accounting Policies [Line Items]
Recording of ROU assets and increase in total lease liabilities	$ 3.5
Credit Concentration Risk | Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage				10.00%		11.00%
Credit Concentration Risk | Revenue
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		10.00%	10.00%	10.00%	10.00%
Credit Concentration Risk | Net Assets
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		10.00%	10.00%	10.00%	10.00%
Standby Letter of Credit
Summary Of Significant Accounting Policies [Line Items]
Cash collateral		$ 6		$ 6

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Cash and cash equivalents per balance sheet	$ 93,049	$ 70,964
Restricted cash per balance sheet	6,303	6,272
Cash, cash equivalents and restricted cash per cash flow	$ 99,352	$ 77,236	$ 81,929	$ 116,127

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Consolidated Total Revenue by Geography (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Summary of Significant Accounting Policies [Line Items]
Total revenue	$ 63,054	$ 53,656	$ 123,637	$ 102,597
United States
Summary of Significant Accounting Policies [Line Items]
Total revenue	44,399	33,954	85,959	66,315
EMEA
Summary of Significant Accounting Policies [Line Items]
Total revenue	12,332	13,232	26,269	24,551
Rest of the World
Summary of Significant Accounting Policies [Line Items]
Total revenue	$ 6,323	$ 6,470	$ 11,409	$ 11,731

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Summary of Consolidated Total Revenue by Geography (Parenthetical) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Credit Concentration Risk | Revenue
Summary of Significant Accounting Policies [Line Items]
Concentration risk, percentage	10.00%	10.00%	10.00%	10.00%

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Timing of Transfer of Control (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation Of Revenue [Line Items]
Total revenue	$ 63,054	$ 53,656	$ 123,637	$ 102,597
Licenses
Disaggregation Of Revenue [Line Items]
Total revenue	19,333	19,620	38,002	36,428
Licenses | Revenue Recognized At a Point in Time
Disaggregation Of Revenue [Line Items]
Total revenue	19,333	19,620	38,002	36,428
Subscription
Disaggregation Of Revenue [Line Items]
Total revenue	33,711	24,110	65,546	46,615
Subscription | Revenue Recognized Over Time
Disaggregation Of Revenue [Line Items]
Total revenue	33,711	24,110	65,546	46,615
Services and other
Disaggregation Of Revenue [Line Items]
Total revenue	10,010	9,926	20,089	19,554
Services and other | Revenue Recognized Over Time
Disaggregation Of Revenue [Line Items]
Total revenue	$ 10,010	$ 9,926	$ 20,089	$ 19,554

Revenue Recognition - Summary o

Revenue Recognition - Summary of Activity Impacting Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue From Contract With Customer [Abstract]
Contract Acquisition Costs, Balances			$ 28,043
Additional deferred contract acquisition costs			5,283
Amortization of deferred contract acquisition costs	$ (2,500)	$ (1,700)	(4,691)	$ (3,400)
Contract Acquisition Costs, Balances	$ 28,635		$ 28,635

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Contract Balances With Deferred Revenue Current and NonCurrent (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Revenue From Contract With Customer [Abstract]
Deferred revenue current, Balances	$ 95,919
Increase (decrease), net	(423)
Deferred revenue current, Balances	95,496
Deferred revenue non-current, Balances	18,382
Increase (decrease), net	1,546
Deferred revenue non-current, Balances	$ 19,928

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Disaggregation Of Revenue [Line Items]
Revenue recognized that was previously deferred	$ 39,000,000	$ 26,200,000	$ 68,800,000	$ 45,400,000
Contract asset, reclassified to receivable			1,800,000	1,600,000
Impairment losses recognized on contract assets			0	0	$ 0
Remaining performance obligation	169,300,000		169,300,000
Deferred contract or customer acquisition cost	28,635,000		28,635,000		28,043,000
Amortization of contract acquisition costs	2,500,000	$ 1,700,000	4,691,000	$ 3,400,000
Deferred Contract Costs Expected To Be Amortized Within Next 12 Months
Disaggregation Of Revenue [Line Items]
Deferred contract or customer acquisition costs	$ 9,000,000		$ 9,000,000		$ 8,400,000

Revenue Recognition - Additio_2

Revenue Recognition - Additional Information (Details1) $ in Millions	Jun. 30, 2019USD ($)
Disaggregation Of Revenue [Line Items]
Revenue expected to recognize	$ 169.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-07-01
Disaggregation Of Revenue [Line Items]
Revenue expected to recognize	$ 115.2
Remaining performance obligation, expected timing of Satisfaction, period	12 months

Intangible Assets - Schedule of

Intangible Assets - Schedule of Cost and Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Finite Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 112,310	$ 113,410
Less: Accumulated amortization	(42,112)	(38,550)
Total intangible assets, net	$ 70,198	74,860
Customer Lists
Finite Lived Intangible Assets [Line Items]
Weighted Average Useful Life	15 years
Intangible assets, gross	$ 42,500	42,500
Developed Technology
Finite Lived Intangible Assets [Line Items]
Weighted Average Useful Life	9 years 7 months 6 days
Intangible assets, gross	$ 42,000	42,000
Trade Names and Trademarks
Finite Lived Intangible Assets [Line Items]
Weighted Average Useful Life	17 years
Intangible assets, gross	$ 24,500	24,500
Order Backlog
Finite Lived Intangible Assets [Line Items]
Weighted Average Useful Life	1 year 6 months
Intangible assets, gross		1,100
Other Intangible Assets
Finite Lived Intangible Assets [Line Items]
Weighted Average Useful Life	4 years 10 months 24 days
Intangible assets, gross	$ 3,310	$ 3,310

Intangible Assets - Summary of

Intangible Assets - Summary of Amortization Expense Included in Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Finite Lived Intangible Assets [Line Items]
Total amortization of acquired intangibles	$ 2,331	$ 2,206	$ 4,662	$ 4,412
Cost of Revenue - Licenses
Finite Lived Intangible Assets [Line Items]
Total amortization of acquired intangibles	1,008	1,008	2,016	2,016
Cost of Revenue – Subscription
Finite Lived Intangible Assets [Line Items]
Total amortization of acquired intangibles	96	96	192	192
Research and Development
Finite Lived Intangible Assets [Line Items]
Total amortization of acquired intangibles	159	34	318	68
Sales and Marketing
Finite Lived Intangible Assets [Line Items]
Total amortization of acquired intangibles	$ 1,068	$ 1,068	$ 2,136	$ 2,136

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Impairment of intangible assets	$ 0	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	Jan. 01, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Commitments and Contingencies Disclosure [Line Items]
Operating lease, residual value guarantee description			Our lease agreements do not contain any material residual value guarantees or material restrictive covenants and as of June 30, 2019, the Company is not subleasing to any third parties.
Weighted-average discount rate - operating leases			4.12%
Operating lease, weighted average remaining lease term			9 years 2 months 12 days
Operating lease liabilities			$ 42,419,000
Operating lease liabilities, current			3,606,000
Long-term operating lease liabilities			38,813,000		$ 9,788,000
Right-of-use assets			31,330,000
Operating leases, rent expense		$ 1,000,000		$ 1,900,000
Financing leases			$ 0
ASC 842
Commitments and Contingencies Disclosure [Line Items]
Operating lease liabilities	$ 3,500,000
Minimum
Commitments and Contingencies Disclosure [Line Items]
Remaining lease terms			1 year
Maximum
Commitments and Contingencies Disclosure [Line Items]
Remaining lease terms			10 years

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Operating Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Lease cost
Operating lease cost	$ 1,469	$ 2,787
Short-term lease cost	719	862
Total lease cost	$ 2,188	$ 3,649

Commitments and Contingencies_3

Commitments and Contingencies - Summary of Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Operating cash flows from operating leases	$ 1.3	$ 2.2
Right-of-use assets obtained in exchange for lease liabilities
Operating leases		$ 30.4

Commitments and Contingencies_4

Commitments and Contingencies - Summary of Undiscounted Annual Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Leases [Abstract]
2019 (except the six months ended June 30)	$ 2,485
2020	5,226
2021	5,499
2022	5,468
2023	4,972
Thereafter	27,030
Total minimum lease payments	50,680
Less: interest	(8,261)
Total present value of operating lease liabilities	42,419
Less: operating lease liabilities - current	(3,606)
Long-term operating lease liabilities	$ 38,813	$ 9,788

Line of Credit and Long-Term _2

Line of Credit and Long-Term Debt - Additional Information (Details) - USD ($)	Mar. 11, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2019	Dec. 31, 2018
Line Of Credit Facility [Line Items]
Credit agreement mature date				Mar. 31, 2024
Debt instrument, description of variable rate basis	one-month Adjusted LIBO Rate
Amortization of debt issuance costs		$ 100,000		$ 51,000	$ 191,000
Prepayment premium amount			$ 300,000		300,000
Loss on modification and partial extinguishment of debt			1,500,000		1,536,000
New Credit Agreement
Line Of Credit Facility [Line Items]
Total debt issuance costs		800,000		800,000
Prior Credit Agreement
Line Of Credit Facility [Line Items]
Amortization of debt issuance costs			$ 100,000		$ 200,000
Federal Funds Effective Rate
Line Of Credit Facility [Line Items]
Debt instrument, interest rate plus	0.50%
London Interbank Offered Rate (LIBOR)
Line Of Credit Facility [Line Items]
Debt instrument, interest rate plus	1.00%
Maximum
Line Of Credit Facility [Line Items]
Senior secured net leverage ratio	3.50%
Applicable interest margin rate based on senior secured net leverage ratio	0.75%
Payment of unused commitment fee under credit agreement based on senior secured net leverage ratio	0.30%
Maximum | London Interbank Offered Rate (LIBOR)
Line Of Credit Facility [Line Items]
Applicable interest margin rate based on senior secured net leverage ratio	1.75%
Minimum
Line Of Credit Facility [Line Items]
Applicable interest margin rate based on senior secured net leverage ratio	0.25%
Payment of unused commitment fee under credit agreement based on senior secured net leverage ratio	0.20%
Minimum | London Interbank Offered Rate (LIBOR)
Line Of Credit Facility [Line Items]
Applicable interest margin rate based on senior secured net leverage ratio	1.25%
Letter of Credit
Line Of Credit Facility [Line Items]
Initial commitments for credit loans under credit agreement	$ 150,000,000
Letter of credit sublimit	$ 15,000,000
Revolving Credit Facility
Line Of Credit Facility [Line Items]
Line of credit outstanding balance		$ 0		$ 0			$ 0
Scenario Forecast | Maximum
Line Of Credit Facility [Line Items]
Senior secured net leverage ratio						4.00%

Stock Option Plans and Stock-_3

Stock Option Plans and Stock-Based Compensation - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended			6 Months Ended		12 Months Ended
	Nov. 30, 2017	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant date fair value per share					$ 12.06	$ 9.19
Stock-based compensation expense		$ 4,970,000		$ 4,116,000	$ 9,609,000	$ 9,255,000
Total fair value of shares vested		500,000		200,000	2,900,000	600,000
Total unrecognized compensation expense related to non-vested stock options granted		14,500,000			$ 14,500,000
Unrecognized compensation expense, weighted-average period of recognition					2 years 7 months 6 days
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserve for issuance	1,800,000
Stock-based compensation expense		$ 549,000			$ 1,265,000
Minimum percentage of employee compensation for employee payroll deduction	1.00%
Maximum percentage of employee compensation for employee payroll deduction	15.00%
Employee Stock Purchase Plan offering period	6 months
Maximum stock value of shares purchased by employees in fair market value, determined at grant date	$ 25,000
Percentage of closing price of shares used to purchase shares	85.00%
Shares of common stock issued and distributed		200,000			200,000
Increase in common stock reserved	900,000
Share-based compensation award, expiration date	Oct. 30, 2020
2015 Stock Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserve for issuance							250,000
Shares available for issuance		90,000			90,000
2015 Stock Option and Grant Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for issuance		564,000			564,000
2017 Long Term Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserve for issuance		13,300,000			13,300,000
Vesting period					4 years
Shares available for issuance		9,000,000			9,000,000
Shares of common stock options granted					4,400,000
Incentive Unit Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 0		$ 2,137,000	$ 351,000	$ 4,269,000
Number of Shares, Vested			700,000
Weighted average grant date fair value, Vested			$ 0.05
Number of Shares, Granted		0		0	0	0
Incentive Stock Options and Nonqualified Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserve for issuance							5,000,000
Expiration period							10 years
Incentive Stock Options and Nonqualified Stock Options | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period							4 years
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of common stock reserve for issuance							500,000
Stock-based compensation expense		$ 3,029,000		$ 1,270,000	$ 5,357,000	$ 2,499,000
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Vested					124,000
Weighted average grant date fair value, Vested					$ 19.26
Number of Shares, Granted					1,027,000
Restricted Stock Units | Employee and Non-employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total unrecognized compensation expense related to non-vested stock options granted		38,700,000			$ 38,700,000
Unrecognized compensation expense, weighted-average period of recognition					3 years 1 month 6 days
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 1,392,000		$ 709,000	$ 2,636,000	$ 2,487,000

Stock Option Plans and Stock-_4

Stock Option Plans and Stock-Based Compensation - Summary of Fair Value of Stock Options Estimated by Using Weighted Average Assumptions (Details)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected dividend rate	0.00%
Expected volatility, Minimum	39.80%
Expected volatility, Maximum	46.00%
Risk-free interest rate, Minimum	2.29%
Risk-free interest rate, Maximum	2.44%
Minimum | Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	5 months 1 day
Maximum | Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 months
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected dividend rate	0.00%	0.00%
Expected volatility, Minimum	39.30%	40.00%
Expected volatility, Maximum	39.80%	41.10%
Risk-free interest rate, Minimum	1.84%	2.63%
Risk-free interest rate, Maximum	2.59%	2.91%
Expected term (in years)	6 years 3 months	6 years 3 months

Stock Option Plans and Stock-_5

Stock Option Plans and Stock-Based Compensation - Summary of Stock Options Activity (Details) - Stock Options $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Beginning balances | shares	2,817
Number of Options, Granted | shares	818
Number of Options, Exercised | shares	(488)
Number of Options, Forfeited | shares	(51)
Number of Options, Ending balances | shares	3,096	2,817
Number of Options, Options vested and expected to vest | shares	3,096
Number of Options, Options vested and exercisable | shares	1,108
Weighted Average Exercise Price (per share), Beginning balances | $ / shares	$ 6.64
Weighted Average Exercise Price (per share), Granted | $ / shares	28.15
Weighted Average Exercise Price (per share), Exercised | $ / shares	3.67
Weighted Average Exercise Price (per share), Forfeited | $ / shares	7.53
Weighted Average Exercise Price (per share), Ending balances | $ / shares	12.78	$ 6.64
Weighted Average Exercise Price (per share), Options vested and expected to vest | $ / shares	12.78
Weighted Average Exercise Price (Per share), Options vested and exercisable | $ / shares	$ 5.55
Weighted Average Remaining Contractual Term (years)	8 years 2 months 12 days	8 years
Weighted Average Remaining Contractual Term (years), Options vested and expected to vest	8 years 2 months 12 days
Weighted Average Remaining Contractual Term (years), Options vested and exercisable	7 years 2 months 12 days
Aggregate Intrinsic Value, Balances | $	$ 29,695	$ 47,589
Aggregate Intrinsic Value, Options vested and expected to vest | $	29,695
Aggregate Intrinsic Value, Options vested and exercisable | $	$ 16,098

Stock Option Plans and Stock-_6

Stock Option Plans and Stock-Based Compensation - Summary of Restricted Stock Unit for Employees and Non-employees (Detail) - Restricted Stock Units $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares
Number of Shares
Number of Shares, Beginning Balance | shares	1,148
Number of Shares, Granted | shares	1,027
Number of Shares, Vested | shares	(124)
Number of Shares, Forfeited | shares	(66)
Non-vested number of shares, Ending Balance | shares	1,985	1,148
Units expected to vest at June 30, 2019 | shares	1,985
Weighted-Average Remaining Contractual Term (In years)
Weighted-Average Remaining Contractual Term, Balances	1 year 9 months 18 days	1 year 9 months 18 days
Weighted-Average Remaining Contractual Term, Units expected to vest	1 year 9 months 18 days
Aggregate intrinsic value
Aggregate intrinsic value, Balances | $	$ 39,777	$ 26,967
Aggregate intrinsic value, Units expected to vest | $	$ 39,777
Weighted average grant date Fair Value
Weighted average grant date fair value, Beginning balance | $ / shares	$ 15.40
Weighted average grant date fair value, Granted | $ / shares	29.25
Weighted average grant date fair value, Vested | $ / shares	19.26
Weighted average grant date fair value, Forfeited | $ / shares	19.95
Weighted average grant date fair value, Ending balance | $ / shares	22.18	$ 15.40
Weighted average grant date fair value, Units expected to vest | $ / shares	$ 22.18

Stock Option Plans and Stock-_7

Stock Option Plans and Stock-Based Compensation - Summary of Stock-Based Compensation Expense By Underlying Equity Instrument (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 4,970,000	$ 4,116,000	$ 9,609,000	$ 9,255,000
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	549,000		1,265,000
Incentive Unit Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	0	2,137,000	351,000	4,269,000
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	1,392,000	709,000	2,636,000	2,487,000
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 3,029,000	$ 1,270,000	$ 5,357,000	$ 2,499,000

Stock Option Plans and Stock-_8

Stock Option Plans and Stock-Based Compensation - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 4,970	$ 4,116	$ 9,609	$ 9,255
Cost of Revenue – Subscription
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	284	253	544	374
Services and other
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	380	347	729	722
Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	916	652	1,833	1,293
General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	1,644	1,695	3,015	4,035
Sales and Marketing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total stock-based compensation expense	$ 1,746	$ 1,169	$ 3,488	$ 2,831

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2017
Income Tax Examination [Line Items]
U.S. federal corporate tax rate			21.00%
GILTI tax liability			$ 0	$ 0
Effective income tax rate	(9.20%)	(79.30%)	2.20%	(66.40%)
Maximum
Income Tax Examination [Line Items]
U.S. federal corporate tax rate					35.00%

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Shareholders - Schedule of Calculation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator
Net loss	$ (9,197)	$ (979)	$ (17,587)	$ (3,281)
Net loss attributable to common stockholders	$ (9,197)	$ (979)	$ (17,587)	$ (3,281)
Denominator
Basic	88,767	86,246	88,533	85,984
Diluted	88,767	86,246	88,533	85,984
Net loss attributable to common stockholders per share
Basic	$ (0.10)	$ (0.01)	$ (0.20)	$ (0.04)
Diluted	$ (0.10)	$ (0.01)	$ (0.20)	$ (0.04)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Shareholders - Weighted Average Outstanding Shares of Common Stock Equivalents Excluded from the Computation of the Diluted Net Loss per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average outstanding shares of common stock equivalents excluded from the computation of diluted net loss per share	3,456	5,695	4,927	5,869
Stock Options to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average outstanding shares of common stock equivalents excluded from the computation of diluted net loss per share	1,458	3,316	3,108	3,392
Non-Vested Incentive Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average outstanding shares of common stock equivalents excluded from the computation of diluted net loss per share		1,098		1,288
RSUs Issued and Outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average outstanding shares of common stock equivalents excluded from the computation of diluted net loss per share	1,941	1,281	1,791	1,189
ESPP
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average outstanding shares of common stock equivalents excluded from the computation of diluted net loss per share	57		28

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Chief Revenue Officer - Separation Agreement - USD ($) $ in Millions	Aug. 31, 2019	Jun. 30, 2019
Subsequent Event [Line Items]
Severance amount payable		$ 1.1
Scenario Forecast
Subsequent Event [Line Items]
Severance amount payable	$ 1.1