Talend (TLND) 10-Q 10 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 01, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	Talend SA
Entity Central Index Key	0001668105
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		30,373,084
Entity Small Business	false
Entity Emerging Growth Company	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 29,070	$ 33,740
Accounts receivables, net of allowance for doubtful accounts of $2,538 and $1,882, respectively	47,691	67,531
Contract acquisition costs	8,612	9,563
Other current assets	9,885	9,825
Total current assets	95,258	120,659
Non-current assets:
Contract acquisition costs	20,282	19,390
Operating lease right-of-use assets	29,764
Property and equipment, net	5,579	6,335
Goodwill	49,546	49,659
Intangible assets, net	17,993	19,420
Other non-current assets	4,616	3,661
Total non-current assets	127,780	98,465
Total assets	223,038	219,124
Current liabilities:
Accounts payable	2,759	5,760
Accrued expenses and other current liabilities	28,020	36,475
Contract liabilities - deferred revenue, current	122,223	127,065
Operating lease liabilities, current	5,159
Short-term debt	256	208
Total current liabilities	158,417	169,508
Non-current liabilities:
Deferred income taxes	470	469
Other non-current liabilities	894	950
Contract liabilities - deferred revenue, non-current	19,305	23,082
Operating lease liabilities, non-current	25,651
Long-term debt	605	676
Total non-current liabilities	46,925	25,177
Total liabilities	205,342	194,685
Commitments and contingencies (Note 10)
STOCKHOLDERS' EQUITY
Ordinary shares, par value €0.08 per share; 30,359,600 and 30,158,374 shares authorized, issued and outstanding, respectively	3,146	3,128
Additional paid-in capital	255,408	244,878
Accumulated other comprehensive income	995	607
Other reserves	182	138
Accumulated losses	(242,035)	(224,312)
Total stockholders’ equity	17,696	24,439
Total liabilities and stockholders’ equity	$ 223,038	$ 219,124

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (parenthetical) $ in Thousands	Mar. 31, 2019€ / shares	Mar. 31, 2019USD ($)shares	Dec. 31, 2018€ / shares	Dec. 31, 2018USD ($)shares
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
Allowance for doubtful accounts (in dollars) | $		$ 2,538		$ 1,882
Common stock, par value (per share) | € / shares	€ 0.08		€ 0.08
Common stock, shares authorized (in shares)		30,359,600		30,158,374
Common stock, shares issued (in shares)		30,359,600		30,158,374
Common stock, shares outstanding (in shares)		30,359,600		30,158,374

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenue
Total revenue	$ 57,838	$ 46,813
Cost of revenue
Total cost of revenue	15,200	11,249
Gross profit	42,638	35,564
Operating expenses
Sales and marketing	34,726	26,142
Research and development	14,858	9,729
General and administrative	10,412	9,874
Total operating expenses	59,996	45,745
Loss from operations	(17,358)	(10,181)
Other income (expense), net	(357)	77
Loss before benefit (provision) for income taxes	(17,715)	(10,104)
Benefit (provision) for income taxes	77	(11)
Net loss	$ (17,638)	$ (10,115)
Net loss per share attributable to ordinary shareholders:
Basic and diluted net loss per share	$ (0.58)	$ (0.34)
Weighted-average shares outstanding used to compute net loss per share attributable to ordinary shareholders:	30,243	29,539
Subscriptions
Revenue
Total revenue	$ 50,037	$ 39,786
Cost of revenue
Total cost of revenue	7,322	5,368
Professional services
Revenue
Total revenue	7,801	7,027
Cost of revenue
Total cost of revenue	$ 7,878	$ 5,881

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Net loss	$ (17,638)	$ (10,115)
Foreign currency translation adjustment, net of tax	388	258
Total comprehensive loss	$ (17,250)	$ (9,857)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Ordinary shares	Additional paid-in capital	Accumulated other comprehensive income	Other reserves	Accumulated loss	Total
Balance at the beginning of the period at Dec. 31, 2017	$ 3,059	$ 215,390	$ 672	$ 49	$ (183,168)	$ 36,002
Balance at beginning (in shares) at Dec. 31, 2017	29,439,767
Comprehensive loss:
Net loss for the period					(10,115)	(10,115)
Other comprehensive gain			258			258
Total comprehensive loss			258		(10,115)	(9,857)
Restricted stock units reserve		(42)		42
Exercise of stock awards	$ 20	2,549				2,569
Exercise of stock awards (in shares)	190,896
Stock-based compensation		4,021				4,021
Balance at the end of the period at Mar. 31, 2018	$ 3,079	221,918	930	91	(193,283)	32,735
Balance at end (in shares) at Mar. 31, 2018	29,630,663
Increase (Decrease) in Stockholders' Equity
Adjustment on initial application of ASC 842					(85)	(85)
Adjusted balance	$ 3,128	244,878	607	138	(224,397)	24,354
Adjusted balance (in shares)	30,158,374
Balance at the beginning of the period at Dec. 31, 2018	$ 3,128	244,878	607	138	(224,312)	24,439
Balance at beginning (in shares) at Dec. 31, 2018	30,158,374
Comprehensive loss:
Net loss for the period					(17,638)	(17,638)
Other comprehensive gain			388			388
Total comprehensive loss			388		(17,638)	(17,250)
Restricted stock units reserve		(44)		44
Shares issued from restricted stock unit vesting	$ 2	(2)
Shares issued from restricted stock unit vesting (in shares)	32,634
Exercise of stock awards	$ 11	1,618				1,629
Exercise of stock awards (in shares)	109,693
Issuance of ordinary shares in connection with employee stock purchase plan	$ 5	2,268				2,273
Issuance of ordinary shares in connection with employee stock purchase plan (in shares)	58,899
Stock-based compensation		6,690				6,690
Balance at the end of the period at Mar. 31, 2019	$ 3,146	$ 255,408	$ 995	$ 182	$ (242,035)	$ 17,696
Balance at end (in shares) at Mar. 31, 2019	30,359,600

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net loss for the period	$ (17,638)	$ (10,115)
Adjustments to reconcile net loss to net cash (used in) from operating activities:
Depreciation	707	441
Amortization of intangible assets	1,330	529
Unrealized loss foreign exchange	362	110
Share-based compensation	6,690	4,021
Changes in operating assets and liabilities:
Accounts receivable	19,676	17,996
Operating leases	32
Other assets	(493)	152
Accounts payable	(3,122)	(909)
Accrued expenses and other current liabilities	(7,538)	(2,928)
Contract liabilities - deferred revenue	(7,927)	(3,612)
Net cash (used in) from operating activities	(7,921)	5,685
Cash flows from investing activities:
Acquisition of property and equipment	(587)	(560)
Net cash used in investing activities	(587)	(560)
Cash flows from financing activities:
Proceeds from issuance of ordinary shares related to exercise of stock awards	1,629	2,569
Proceeds from issuance of ordinary shares related to employee stock purchase plan	2,273
Repayment of borrowings	(7)	(34)
Net cash from financing activities	3,895	2,535
Net (decrease) increase in cash and cash equivalents	(4,613)	7,660
Cash and cash equivalents at beginning of the year	33,740	87,024
Effect of exchange rate changes on cash and cash equivalents	(57)	711
Cash and cash equivalents at end of the period	$ 29,070	$ 95,395

Organization and description of

Organization and description of business	3 Months Ended
	Mar. 31, 2019
Organization and description of business
Organization and description of business	1. Organization and summary of significant accounting policies Business Talend S.A. (“the Company”) is incorporated in France in 2005 with its registered office located at 9, rue Pages, 92150 Suresnes. Talend’s software platform, Talend Data Fabric, integrates data and applications in real-time across modern big data and cloud environments, as well as traditional systems, allowing organizations to develop a unified view of their business and customers. Basis of presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and reflect, in the opinion of management, all adjustments, consisting of normal recurring adjustments and accruals, necessary to present fairly the financial position of the Company as of March 31, 2019 and December 31, 2018, the results of operations, comprehensive loss, and cash flows for the three months ended March 31, 2019 and March 31, 2018. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). The unaudited Condensed Consolidated Financial Statements include the accounts of the Company and its subsidiaries (together, “Talend” or the “Group”). All intercompany accounts and transactions have been eliminated in consolidation . These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and accompanying Notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC on February 28, 2019. Certain prior year financial information in the statement of cash flows has been reclassified to conform with current year presentation. The Company’s results of operations, comprehensive loss, and cash flows for the three ended March 31, 2019 are not necessarily indicative of results that may be expected for the year ending December 31, 2019, or for any future period. In addition, the Consolidated Statement of Financial Position as of December 31, 2018 has been revised to reflect an immaterial re-classification of deferred revenue between short term and long term. The revision, in the amount of $2.6 million, resulted in an increase in Contract liabilities – deferred revenue, current, and a decrease in Contract liabilities – deferred revenue, non-current, compared to amounts previously presented on the Consolidated Statement of Financial Position. Use of estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant items subject to such estimates include, but are not limited to, revenue recognition (including allocation of the transaction price to separate performance obligations), the amortization period for contract acquisition costs, fair value of acquired intangible assets and goodwill, and share‑based compensation expense. These estimates and assumptions are based on management’s best estimates and judgment. Management regularly evaluates its estimates and assumptions using historical experience and other factors; however, actual results could differ significantly from these estimates. Summary of significant accounting policies Except for the accounting policies described below, there have been no changes to the Group’s significant accounting polices disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, filed with the SEC on February 28, 2019, that have had a material impact on the Group’s condensed consolidated financial statements and related notes . Recently adopted accounting standards In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) , which requires the recognition of a right-of-use assets and lease liabilities on the balance sheet for those leases currently classified as operating leases under ASC Topic 840 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. In 2018, the FASB issued ASU 2018-10, 2018-11 and 2018-20, providing, among other things, codification improvements, the optional transition method, the treatment of sales and similar taxes as lease cost by policy elections, the requirement to exclude certain variable payments from consideration and the allocation of certain variable payments between lease and non-lease components. The standard is effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption permitted. The Group has adopted the standard utilizing the modified retrospective transition method, as of the effective date of ASC 842, which for the Group is January 1, 2019, with a cumulative-effect adjustment to equity. As a result, the Group recognized $27.1 million of operating lease assets and $27.7 million of operating lease liabilities. This method allows entities to continue to apply the legacy guidance in ASC 840, including disclosure requirements in the comparative periods presented in the year of adoption . Please see Note 10 within these financial statements for the impact of adoption and required disclosures. Accounting standards issued not yet adopted In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use- Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The new standard is effective for the Group’s interim and annual periods beginning January 1, 2020 and earlier adoption is permitted. This standard could be applied either retrospectively or propectively to all implementation costs incurred after the date of adoption. The Group will adopt this standard on a prospective basis as of January 1, 2020 and is evaluating the impact ASU 2018-15 will have on the consolidated financial statements and related disclosures.

Business combinations

Business combinations	3 Months Ended
	Mar. 31, 2019
Business combinations
Business combinations	2. Business combinations On November 9, 2018, Talend, Inc., a wholly-owned subsidiary of the Company acquired all of the outstanding shares of Stitch Inc., (“Stitch”), a leading cloud-based service to seamlessly load data to cloud data warehouses, for a cash payment of $59.5 million. Talend, Inc, also incurred transaction costs of approximately $0.7 million, which are included in general and administrative expense in its consolidated statements of operations for the year ended December 31, 2018. Stitch’s self-service solution for efficiently moving data from cloud applications into cloud data warehouses and Stitch’s low-touch sales strategy further enhances the Group’s alignment with cloud platforms such as Microsoft Azure, Amazon AWS, Databricks and Snowflake. In addition, the acquisition of Stitch further addresses the growing demand from data engineers and analyst for self-service cloud data integration solutions. The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the date of acquisition (in thousands): Fair Value Cash $ 1,625 Acquired developed technology 11,400 Customer relationships 3,300 Goodwill 43,435 Other assets, net 143 Deferred revenue (410) Total consideration transferred $ 59,493 The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill. The goodwill balance is primarily attributed to the assembled workforce and expanded market share within the data integration industry, which is moving towards cloud data warehouses. The goodwill balance is not deductible for income tax purposes. The fair values assigned to tangible assets acquired, liabilities assumed and identifiable intangible assets were based on management’s estimates and assumptions. The fair value of acquired developed technology was determined using an excess earnings method based on revenue forecasts related to the expected evolution of the technology over time. The fair value of customer relationships was determined using the with-and-without method, whereby the value of existing customer relationships is determined using two different scenarios; 1) using net revenues less related costs with the customer relationships and 2) net revenues less related costs without the customer relationships. The incremental difference between the two scenarios was then used to estimate the fair value of the Stitch’s existing customer relationships. Both methods used a discounted cash flow method, at the discounted rates of 13.5%. The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition. Fair Value Useful Life Acquired developed technology $ 11,400 5 Customer relationships 3,300 2 Total intangible assets subject to amortization $ 14,700

Contracts with customers

Contracts with customers	3 Months Ended
	Mar. 31, 2019
Contracts with customers
Contracts with customers	3. Contracts with customers Sales commissions earned by the Group’s sales force are considered incremental and recoverable costs of obtaining a contract with a customer. The Group recognizes these incremental costs of obtaining a subscription contract with a customer if the Group expects the benefit of those costs to be longer than one year. The Group amortizes the majority of the incremental sales commission costs to obtain a subscription contract on a straight-line basis over a period of benefit that the Group has determined to be five years. The Group recognizes these sales commissions as contract acquisition costs on the statement of financial position. Timing may differ between the satisfaction of performance obligations and the invoicing and collection of amounts related to the Group’s contracts with customers. The Group may record assets for amounts related to performance obligations that are satisfied but not yet billed and/or collected. These assets would be recorded as contract assets rather than receivables when receipt of the consideration is conditional on something other than the passage of time. Liabilities are recorded for amounts that are collected in advance of the satisfaction of performance obligations. These liabilities are classified as current and non-current contract liabilities – deferred revenue in the statement of financial position. The following table reflects the Group’s accounts receivables, contract acquisition costs and contract liabilities – deferred revenue (in thousands). March 31, 2019 December 31, 2018 Assets Accounts receivables, net $ 47,691 $ 67,531 Contract assets - unbilled revenue 1,274 941 Contract acquisition costs - current 8,612 9,563 Contract acquisition costs - non-current 20,282 19,390 Total contract assets $ 77,859 $ 97,424 Liabilities Contract liabilities - deferred revenue - current 122,223 127,065 Contract liabilities - deferred revenue - non-current 19,305 23,082 Total contract liabilities $ 141,528 $ 150,147 Significant changes in the contract acquisition costs and the contract liabilities balances during the period are as follows (in thousands): Contract assets - Contract Contract liabilities - unbilled revenue acquisition costs deferred revenue Balances at January 1, 2019 $ 941 $ 28,953 $ 150,147 Transferred to accounts receivable from unbilled revenue (849) — — Increase due to new unbilled revenue 1,182 — — Additional contract acquisition costs deferred — 2,690 — Amortization of deferred contract acquisition costs — (2,749) — Performance obligations satisfied during the period that were included in the contract liability balance at the beginning of the period — — (44,000) Increases due to invoicing prior to satisfaction of performance obligations, net of amounts recognized as revenue during the period — — 35,381 Balances at March 31, 2019 $ 1,274 $ 28,894 $ 141,528 As of March 31, 2019, $8.6 million of the Group’s contract acquisition costs are expected to be amortized within the next 12 months and therefore are included in current assets. The remaining amount of Group’s contract acquisition costs are included in non-current assets. There were no impairments of assets related to Group’s contract acquisition costs during the period-ended March 31, 2019. Remaining Performance Obligations The Group’s contracts with customers include amounts allocated to performance obligations of $172.1 million that will be satisfied at a later date. As of March 31, 2019, $131.0 million of deferred revenue and backlog is expected to be recognized from remaining performance obligations over the next 12 months, and approximately $41.1 million thereafter. Disaggregation of Revenues The following table sets forth the Group’s total revenue by region for the periods indicated. The revenues by geographic region were determined based on the country where the sale took place. Three Months Ended March 31, 2019 2018 Americas $ 27,207 $ 20,827 EMEA 26,337 23,253 Asia Pacific 4,294 2,733 $ 57,838 $ 46,813 Revenues from the Company’s country of domicile, based on sales that took place in France, totaled $9.0 million and $8.5 million for the three months ended March 31, 2019 and 2018 respectively.

Net loss per share

Net loss per share	3 Months Ended
	Mar. 31, 2019
Net loss per share
Net loss per share	4. Net loss per share Basic net income (loss) per share is computed by dividing net income (loss) for the period by the weighted-average number of shares outstanding during the period. In periods of net loss, all potential ordinary shares are anti-dilutive, so diluted net loss per share equals the basic net loss per share. In periods of net income, diluted net income per share is computed by dividing net income for the period by the basic weighted-average number of shares plus any dilutive potential ordinary shares outstanding during the period. As the Company was in a loss position for the three months ended March 31, 2019 and 2018, the diluted loss per share is equal to basic loss per share. The net loss and weighted average number of shares used in the calculation of basic and diluted earnings per share are as follows (in thousands, except per share data): Three Months Ended March 31, 2019 2018 Numerator (basic and diluted): Net loss $ $ (10,115) Denominator (basic and diluted): Weighted-average ordinary shares outstanding 29,539 Basic and diluted net loss per share $ (0.58) $ (0.34)

Fair value measurement

Fair value measurement	3 Months Ended
	Mar. 31, 2019
Fair value measurement
Fair value measurement	5 . Fair value measurement The Group reports assets and liabilities recorded at fair value on the Group’s consolidated balance sheets based upon the level of judgment associated with inputs used to measure their fair value. Hierarchical levels that are directly related to the amount of judgement associated with the inputs to the valuation of these assets or liabilities are as follows : · Level 1: observable quoted prices (unadjusted) in active markets for identical financial assets or liabilities. · Level 2: inputs other than quoted prices (other than level 1) in active markets, that are observable either directly (i.e. as prices) or indirectly (i.e. derived from prices). · Level 3: unobservable inputs that are supported by little or no market data, and may require significant management judgment or estimation. The fair value measurement level within the fair value hierarchy for a particular asset or liability is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs . Financial instruments not measured at fair value on the Company’s consolidated statement of financial position, but which require disclosure of their fair values include: cash and cash equivalents, accounts receivables and certain other receivables, deposits, accounts and certain other payables and debt . For cash and cash equivalents, accounts receivables and certain other receivables, accounts and certain other payables, their fair value is deemed to approximate their carrying amount due to the short-term nature of these balances . For deposits, as they are not significant, the difference between their fair value and their carrying amount is not deemed significant . For debt, their fair value was categorized as Level 2 and was estimated based on a discounted cash flow method using a market interest rate for similar debt . There were no transfers between levels of the fair value hierarchy during the three month periods ended March 31, 2018 or 2019.

Balance sheet components

Balance sheet components	3 Months Ended
	Mar. 31, 2019
Balance sheet components
Balance sheet components	6. Balance sheet components The following tables represent balance sheet components (in thousands): As of March 31, As of December 31, Other current assets 2019 2018 Royalties $ 1,264 $ 1,464 Software subscriptions 2,071 2,067 Research tax credit 615 612 Unbilled revenue 1,274 941 Prepaid rent 668 149 Prepaid insurance 478 568 Prepaid sales and marketing events 533 1,996 Other assets 2,982 2,028 Other current assets $ 9,885 $ 9,825 As of March 31, As of December 31, Other non-current assets 2019 2018 Research tax credit $ 2,192 $ 2,214 Deposits 938 793 Other non-current assets 1,486 654 Other non-current assets $ 4,616 $ 3,661 As of March 31, As of December 31, Property and equipment 2019 2018 Computer equipment and software $ 7,615 $ 6,778 Fixtures and fittings 1,617 1,925 Leasehold improvements 3,871 4,823 Property and equipment, gross 13,103 13,526 Less: accumulated depreciation and amortization (7,524) (7,191) Property and equipment, net $ 5,579 $ 6,335 As of March 31, As of December 31, Accrued expenses and other liabilities 2019 2018 Accrued compensation and benefits $ 17,072 $ 21,343 VAT payable 2,909 5,051 Other taxes 1,007 698 Contingent liabilities 375 408 Other current liabilities 6,657 8,975 Accrued expenses and other liabilities $ 28,020 $ 36,475 Intangible assets as of March 31, 2019 and December 31, 2018 included the following (in thousands): March 31, 2019 Gross Carrying Amount Accumulated Amortization Net Weighted Average Customer relationships $ 4,976 $ (2,363) $ 2,613 2 years Acquired developed technology 19,557 (4,177) 15,380 5 years Total $ 24,533 $ (6,540) $ 17,993 December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Weighted Average Customer relationships $ 5,009 $ (1,984) $ 3,025 2 years Acquired developed technology 20,087 (3,692) 16,395 5 years Total $ 25,096 $ (5,676) $ 19,420 Amortization expense for intangible assets was $1.3 million and $0.5 million for the three months ended March 31, 2019 and 2018, respectively. The following table presents the estimated future amortization expense related to intangible assets at March 31, 2019 (in thousands): Amount Remainder of 2019 $ 3,974 2020 5,024 2021 3,649 2022 3,447 2023 1,899 Thereafter — Total amortization expense $ 17,993

Debt

Debt	3 Months Ended
	Mar. 31, 2019
Debt
Debt	7. Debt As part of the Restlet SAS acquisition in 2016, the Company assumed debt totaling $1.2 million related to advances for research and development projects from Bpifrance to Restlet SAS. As of March 31, 2019, the debt had a carrying value of $0.9 million, of which $0.3 million is due within twelve months. The debt balance as of December 31, 2018 was $0.9 million, of which $0.2 million was due within twelve months. Line of credit On February 14, 2019, Talend, Inc., Talend USA, Inc. and Stitch, Inc. (the “Borrowers”), all wholly-owned subsidiaries of the Company, entered into a revolving credit facility with Square 1 Bank, a division of Pacific Western Bank (“PWB) (the “Loan Agreement”). The Loan Agreement provides for a revolving line of credit facility, which expires February 14, 2022. Under the Loan Agreement, the Borrowers are able to borrow an aggregate principal amount of up to $30.0 million at any time outstanding (the “Maximum Amount”). Under the terms of the Loan Agreement, the principal amount of loans made to the Borrowers, plus the amount of any ancillary services, including Letters of Credit issued for the account of the Borrowers, at any time outstanding cannot exceed the lesser of (i) the Maximum Amount and (ii) the product of three times the average Trailing Monthly Subscription Revenue times the Retention Rate. The proceeds of the loans under the Loan Agreement may be used for working capital and general corporate purposes. The Loan Agreement includes customary financial covenants and restrictive covenants, in each case subject to certain exceptions, that limit the Borrower’s ability to, among other things: dispose of assets, undergo a change in control, merge or consolidate, make acquisitions, incur debt, incur liens and make investments, in each case subject to certain exceptions. It is expected that the documentation to be entered into by the Company pursuant to the Loan Agreement will also contain restrictive covenants applicable to the Company and its subsidiaries. The Borrowers must also comply with a financial covenant requiring them to maintain minimum annualized recurring revenue, measured quarterly. The Borrowers must also maintain a minimum liquidity amount, comprised of the Company’s consolidated cash and cash equivalents plus loans available to be drawn under the Loan Agreement, equal to at least $15.0 million at all times. Loans under the Loan Agreement will bear interest at PWB’s announced prime rate. Interest on each advance is due and payable monthly and the principal balance is due at maturity. The Borrowers are also required to pay, on a quarterly basis, a fee equal to 0.25% per annum of any amounts undrawn under the Loan Agreement. During the three months ended March 31, 2019, no amounts had been drawn on the credit facility under the Loan Agreement.

Share capital and reserves

Share capital and reserves	3 Months Ended
	Mar. 31, 2019
Share capital and reserves
Share capital and reserves	8. Share capital and reserves At March 31, 2019, there were 30,359,600 ordinary shares outstanding, each with a nominal value of €0.08. Between January 1, 2019 and March 31, 2019, the Company’s board of directors acknowledged increases in share capital as a result of the issuance of 109,693 ordinary shares, upon the exercise of share options, employee warrants (BSPCE) and warrants (BSA) classified as share-based payments, representing a total amount of €1.4 million. Other reserves French law requires that the holders of warrants be protected against an increase in the cost of the nominal value of the Company’s shares. A specific non-distributable reserve was set up for this purpose in June 2011 and can be used only on exercise of the warrants outstanding at that date. This reserve must remain outstanding until the last related warrant has expired. In compliance with French law, should the related warrants be exercised, the holder would pay the exercise price agreed at grant date and the balance would be borne by the Company. Upon the closing of the IPO, the rights under the non-distributable reserve were cancelled and the reserve balance of $8.4 million was transferred from “other reserves” to “share premium” at that date. The Company’s board of directors, acting upon delegation of the shareholders' meetings held to date, has granted restricted stock units or free shares ( actions gratuites , under French law), to employees and officers of the Group. The Company created a specific restricted reserve account in connection with the issuance of granted restricted stock units or free shares equal to €162,652 at March 31, 20 19 . Upon vesting of each of the restricted stock units or frees share pursuant to the 2016 Free Share Plan, a new share of the Company will be issued to the relevant beneficiary and, simultaneously, an amount equal to €0.08 will be withdrawn from the above reserve to increase the share capital of the Company.

Share-based payment plans

Share-based payment plans	3 Months Ended
	Mar. 31, 2019
Share-based payment plans
Share-based payment plans	9. Share-based payment plans The following table summarizes the number of stock options and warrants outstanding: Number of Number of employee Number of stock options BSPCE warrants BSA warrants Balance at January 1, 2018 2,282 343 88 Granted during the period 2 — 38 Exercised during the period (167) (24) — Forfeited during the period (37) (1) — Balance at March 31, 2018 2,080 318 126 Balance at January 1, 2019 1,707 229 131 Granted during the period — — — Exercised during the period (88) (22) — Forfeited during the period (93) (2) — Balance at March 31, 2019 1,526 205 131 At March 31, 2019, there were 930,723 stock options, employee warrants (BSPCE), warrants (BSA) and restricted stock units available for grant under the Company’s share pool reserve. In general, vesting of stock options and warrants occurs over four years, with 25% on the one year anniversary of the grant and 1/16th on a quarterly basis thereafter. Options have a contractual life of ten years. Individuals must continue to provide services to the Group in order to vest. Upon termination, all unvested options are forfeited and vested options must generally be exercised within three months. All expenses related to these plans have been recorded in the consolidated statements of operations in the same line items as the related employee’s cash-based compensation. (a) The Company’s board of directors has approved Stock Option Plans for the granting of stock options to employees outside of France. The terms of the Stock Option Plans are substantially the same and at this time new share option grants may only be made pursuant to the 2017 Plan. Stock options may be granted to any individual employed by the Group. In addition, under French law, the maximum number of shares issuable upon exercise of outstanding employee stock options may not exceed one-third of the outstanding share capital on a non-diluted basis as of the date of grant. A summary of stock option activity and related weighted-average exercise prices ("WAEP") and weighted-average remaining contractual term (“WACT”) under all of the plans at March 31, 2019 are presented in the following table (in thousands, except exercise price per option): Number of stock options outstanding WAEP per share WACT (in years) Aggregate intrinsic value Balance at December 31, 2018 1,707 $ 11.95 6.3 $ 42,769 Granted — — Exercised (88) 14.57 Forfeited (93) 19.35 Balance at March 31, 2019 1,526 $ 11.08 5.9 $ 60,211 Vested and expected to vest at March 31, 2019 1,472 $ 10.83 5.9 $ 58,459 Exercisable at March 31, 2019 1,213 $ 9.19 5.6 $ 50,132 The total intrinsic values of stock options exercised during the period ended March 31, 2019 was $2.7 million. (b) The Company’s board of directors has been authorized by the shareholders' general meeting to grant BSPCE (“ bons de souscription de parts de créateur d'entreprise or employee warrants”) to employees who are French tax residents as they carry favorable tax and social security treatment for French tax residents. Employee warrants (BSPCE) are a specific type of option to acquire ordinary shares available to qualifying companies in France that meet certain criteria. Otherwise, employee warrants (BSPCE) function in the same manner as share options. A summary of employee warrants (BSPCE) activity and related weighted-average exercise prices ("WAEP") and weighted-average remaining contractual term (“WACT”) under all of the plans at March 31, 2019 are presented in the following table (in thousands, except exercise price per warrant): Number of employee warrants outstanding WAEP per warrant WACT (in years) Aggregate intrinsic value Balance at December 31, 2018 229 $ 15.49 6.7 $ 4,922 Granted — — Exercised (22) 12.04 Forfeited (2) 26.95 Balance at March 31, 2019 205 $ 15.43 6.5 $ 7,197 Vested and expected to vest at March 31, 2019 193 $ 15.19 6.5 $ 6,815 Exercisable at March 31, 2019 150 $ 13.36 6.1 $ 5,594 (c) RSUs vest upon either performance-based or service-based criteria. Performance-based RSUs vest based on the satisfaction of specific non-market performance criteria and a four-year service period. At each vesting date, the holder of the award is issued shares of the Company’s ordinary shares. Compensation expense from these awards is equal to the fair market value of the Company’s ordinary shares on the date of grant and is recognized over the remaining service period based on the probable outcome of achievement of the financial metrics used in the specific grant’s performance criteria. Management’s estimate of the number of shares expected to vest is based on the anticipated achievement of the specified non-market performance criteria, which are assessed at each reporting period. Performance-based RSUs are typically granted such that they vest upon the achievement of certain software subscription sales targets, during a specified performance period and the completion of a four-year service period. In general, service-based RSU’s vest over a four-year period, with 25% on the one year anniversary of the grant and equal quarterly installments thereafter. Number of service- Number of performance- Weighted-average based RSUs based RSUs grant date fair value Balance at December 31, 2018 1,210 301 $ 44.90 Granted 454 351 45.99 Vested and released (19) (14) 34.45 Withheld for taxes — — — Forfeited (70) (181) 42.96 Balance at March 31, 2019 1,575 457 $ 45.10 Expected to vest at March 31, 2019 1,118 359 $ 44.55 (d) The Company’s board of directors has granted warrants (otherwise known as “ bons de souscription d'actions ” or “warrants (BSA)”) to Company directors. In addition to any exercise price payable by a holder upon the exercise of any warrants (BSA), pursuant to the relevant shareholders’ delegation to the Company’s board of directors, such warrants need to be subscribed for at a price at least equal to 5% of the exercise price which represents the fair market value of the underlying ordinary shares at grant date. (e) In the fourth quarter of 2017, the Company established the 2017 Employee Stock Purchase Plan (the “ESPP”) which is intended to qualify under Section 423 of the Internal Revenue Code of 1986. The ESPP allows eligible employee participants to purchase ADSs, with each ADS representing one ordinary share of the Company, at a discount through payroll deductions. The Company’s executive officers and all of its other employees will be allowed to participate in the ESPP. A total of 571,000 ADSs of the Company’s ordinary shares are available for sale under the ESPP. In addition, with shareholder approval, the ESPP provides for increases by the Company’s board of directors in the number of ADSs available for issuance under the ESPP. Under the ESPP, employees are eligible to purchase ADSs through payroll deductions of up to 15% of their eligible compensation, subject to any plan limitations. The ESPP has two consecutive offering periods of approximately six months in length during the year and the purchase price of the ADSs will be 85% of the lower of the fair value of the Company’s ADSs on the first trading day of the offering period or on the last day of the offering period. Under applicable tax rules, an employee may purchase no more than $25,000 worth of ADS, valued at the start of the offering period, under the ESPP in any calendar year. As of March 31, 2019, $0.8 million has been withheld on behalf of employees for a future purchase under the ESPP and is recorded in accrued compensation benefits. (f) Cost of revenue and operating expenses include employee stock-based compensation expense as follows (in thousands): Three Months Ended March 31, 2018 2019 Cost of revenue - subscriptions $ 177 $ 629 Cost of revenue - professional services 104 527 Sales and marketing 1,181 1,527 Research and development 1,183 2,232 General and administrative 1,376 1,775 Total share-based compensation expense $ 4,021 $ 6,690 As of March 31, 2019, the Company had $47.4 million of total unrecognized share-based compensation expense relating to unvested stock options, employee warrants (BSPCE), warrants (BSA) and RSUs, which are expected to be recognized over a weighted-average period of approximately 2.2 years.

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and contingencies
Commitments and contingencies	10. Commitments and contingencies Operating leases The Group has adopted ASC 842 utilizing the optional modified retrospective transition method, as of the effective date of ASC 842, which for the Group is January 1, 2019, with a cumulative-effect adjustment to equity. The Group determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities in the Company’s consolidated statement of financial position. ROU assets represent the Group’s right to use an underlying asset for the lease term and lease liabilities represent the Group’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As the Group’s leases do not provide an implicit rate, the Group uses an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The Group’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Group has lease agreements with lease and non-lease components, which are generally accounted for separately but the Group has made an accounting policy decision to account for the lease and non-lease components as a single lease component. The Group has operating leases for corporate offices, none of which have variable lease payments. The components of lease expense as of March 31, 2019 were as follows (in thousands): Amount Operating lease cost $ 302 Amortization of right-of-use assets 1,083 Total lease costs $ 1,385 Amount Operating lease right-of-use assets $ 29,764 Operating lease liabilities $ 30,810 Weighted average remaining lease term for operating leases 7.6 years Weighted average discount rate Maturities of lease liabilities as of March 31, 2019 were as follows (in thousands): Maturities of lease liabilities were as follows: Amount Remainder of 2019 $ 3,860 2020 5,100 2021 5,104 2022 5,054 2023 3,967 2024 3,783 Thereafter 10,330 Total lease payments 37,198 Less imputed interest (6,388) Total $ 30,810 Disclosures Related to Periods Prior to Adoption of New Lease Standard Future minimum undiscounted lease payments as of December 31, 2018 were as follows (in thousands): Amount 2019 $ 5,286 2020 5,757 2021 5,591 2022 5,320 2023 4,014 Thereafter 14,832 Total future minimum lease payments $ 40,800 Legal Proceedings In the ordinary course of business, the Company may be involved in various legal proceedings and claims related to intellectual property rights, commercial disputes, employment and wage and hour laws, alleged securities laws violations or other investor claims and other matters. For example, the Company has been, and may in the future be, put on notice and sued by third parties for alleged infringement of their proprietary rights, including patent infringement. The Company evaluates these claims and lawsuits with respect to their potential merits, the Company’s potential defenses and counter claims, and the expected effect on it of defending the claims and a potential adverse result. The Company is not presently a party to any legal proceedings that in the opinion of its management, if determined adversely to it, would have a material adverse effect on its business, financial condition or operating results. The Company is not a party to any legal proceedings that management believes may have a material impact on the Company’s financial position or results of operations .

Income tax

Income tax	3 Months Ended
	Mar. 31, 2019
Income tax
Income tax	11. The Company provides for income taxes in interim periods based on the estimated annual effective tax rate for the year, adjusting for discrete items in the quarter in which they arise. The annual effective tax rate before discrete items was 0.9% and 2.9% for the three months ended March 31, 2019 and March 31, 2018, respectively. The 2019 and 2018 annual effective tax rates differed from the French statutory income tax rate of 31.0% for 2019 and 33.3% for 2018, primarily due to a valuation allowance on current year losses in most jurisdictions. The Company files income tax returns in France as well as many foreign jurisdictions. The tax years 2005 to 2018 remain open to examination by the various jurisdictions in which the Company is subject to tax. Fiscal years outside the normal statute of limitation remain open to audit by tax authorities due to tax attributes generated in those early years which have been carried forward and may be audited in subsequent years when utilized.

Related party transactions

Related party transactions	3 Months Ended
	Mar. 31, 2019
Related party transactions
Related party transactions	12. As part of the Restlet SAS acquisition, the Company assumed debt totaling $1.2 million related to advances for research and development projects from Bpifrance to Restlet SAS. As of March 31, 2019, the debt had a carrying value of $0.9 million, see Note 7. There are no other material related party transactions that require disclosures.

Organization and description _2

Organization and description of business (Policies)	3 Months Ended
	Mar. 31, 2019
Organization and description of business
Basis of presentation	Basis of presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and reflect, in the opinion of management, all adjustments, consisting of normal recurring adjustments and accruals, necessary to present fairly the financial position of the Company as of March 31, 2019 and December 31, 2018, the results of operations, comprehensive loss, and cash flows for the three months ended March 31, 2019 and March 31, 2018. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). The unaudited Condensed Consolidated Financial Statements include the accounts of the Company and its subsidiaries (together, “Talend” or the “Group”). All intercompany accounts and transactions have been eliminated in consolidation . These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and accompanying Notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 filed with the SEC on February 28, 2019. Certain prior year financial information in the statement of cash flows has been reclassified to conform with current year presentation. The Company’s results of operations, comprehensive loss, and cash flows for the three ended March 31, 2019 are not necessarily indicative of results that may be expected for the year ending December 31, 2019, or for any future period. In addition, the Consolidated Statement of Financial Position as of December 31, 2018 has been revised to reflect an immaterial re-classification of deferred revenue between short term and long term. The revision, in the amount of $2.6 million, resulted in an increase in Contract liabilities – deferred revenue, current, and a decrease in Contract liabilities – deferred revenue, non-current, compared to amounts previously presented on the Consolidated Statement of Financial Position.
Use of estimates	Use of estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant items subject to such estimates include, but are not limited to, revenue recognition (including allocation of the transaction price to separate performance obligations), the amortization period for contract acquisition costs, fair value of acquired intangible assets and goodwill, and share‑based compensation expense. These estimates and assumptions are based on management’s best estimates and judgment. Management regularly evaluates its estimates and assumptions using historical experience and other factors; however, actual results could differ significantly from these estimates.
Recently adopted accounting standards	Recently adopted accounting standards In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) , which requires the recognition of a right-of-use assets and lease liabilities on the balance sheet for those leases currently classified as operating leases under ASC Topic 840 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. In 2018, the FASB issued ASU 2018-10, 2018-11 and 2018-20, providing, among other things, codification improvements, the optional transition method, the treatment of sales and similar taxes as lease cost by policy elections, the requirement to exclude certain variable payments from consideration and the allocation of certain variable payments between lease and non-lease components. The standard is effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption permitted. The Group has adopted the standard utilizing the modified retrospective transition method, as of the effective date of ASC 842, which for the Group is January 1, 2019, with a cumulative-effect adjustment to equity. As a result, the Group recognized $27.1 million of operating lease assets and $27.7 million of operating lease liabilities. This method allows entities to continue to apply the legacy guidance in ASC 840, including disclosure requirements in the comparative periods presented in the year of adoption . Please see Note 10 within these financial statements for the impact of adoption and required disclosures. Accounting standards issued not yet adopted In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use- Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The new standard is effective for the Group’s interim and annual periods beginning January 1, 2020 and earlier adoption is permitted. This standard could be applied either retrospectively or propectively to all implementation costs incurred after the date of adoption. The Group will adopt this standard on a prospective basis as of January 1, 2020 and is evaluating the impact ASU 2018-15 will have on the consolidated financial statements and related disclosures.

Business combinations (Tables)

Business combinations (Tables) - Stitch, Inc	3 Months Ended
	Mar. 31, 2019
Business Acquisition [Line Items]
Schedule of estimated fair values of assets acquired and liabilities assumed	The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the date of acquisition (in thousands): Fair Value Cash $ 1,625 Acquired developed technology 11,400 Customer relationships 3,300 Goodwill 43,435 Other assets, net 143 Deferred revenue (410) Total consideration transferred $ 59,493
Schedule of identified intangible assets acquired and their estimated useful lives	Fair Value Useful Life Acquired developed technology $ 11,400 5 Customer relationships 3,300 2 Total intangible assets subject to amortization $ 14,700

Contracts with customers (Table

Contracts with customers (Tables)	3 Months Ended
	Mar. 31, 2019
Contracts with customers
Schedule of trade receivables, contract acquisition costs and contract liabilities – deferred revenue	The following table reflects the Group’s accounts receivables, contract acquisition costs and contract liabilities – deferred revenue (in thousands). March 31, 2019 December 31, 2018 Assets Accounts receivables, net $ 47,691 $ 67,531 Contract assets - unbilled revenue 1,274 941 Contract acquisition costs - current 8,612 9,563 Contract acquisition costs - non-current 20,282 19,390 Total contract assets $ 77,859 $ 97,424 Liabilities Contract liabilities - deferred revenue - current 122,223 127,065 Contract liabilities - deferred revenue - non-current 19,305 23,082 Total contract liabilities $ 141,528 $ 150,147
Schedule of significant changes in contract acquisition costs and contract liabilities balances	Significant changes in the contract acquisition costs and the contract liabilities balances during the period are as follows (in thousands): Contract assets - Contract Contract liabilities - unbilled revenue acquisition costs deferred revenue Balances at January 1, 2019 $ 941 $ 28,953 $ 150,147 Transferred to accounts receivable from unbilled revenue (849) — — Increase due to new unbilled revenue 1,182 — — Additional contract acquisition costs deferred — 2,690 — Amortization of deferred contract acquisition costs — (2,749) — Performance obligations satisfied during the period that were included in the contract liability balance at the beginning of the period — — (44,000) Increases due to invoicing prior to satisfaction of performance obligations, net of amounts recognized as revenue during the period — — 35,381 Balances at March 31, 2019 $ 1,274 $ 28,894 $ 141,528
Disclosure of revenues by region	Three Months Ended March 31, 2019 2018 Americas $ 27,207 $ 20,827 EMEA 26,337 23,253 Asia Pacific 4,294 2,733 $ 57,838 $ 46,813

Net loss per share (Tables)

Net loss per share (Tables)	3 Months Ended
	Mar. 31, 2019
Net loss per share
Schedule of net loss and weighted average number of shares used in the calculation of basic and diluted earnings per share	The net loss and weighted average number of shares used in the calculation of basic and diluted earnings per share are as follows (in thousands, except per share data): Three Months Ended March 31, 2019 2018 Numerator (basic and diluted): Net loss $ $ (10,115) Denominator (basic and diluted): Weighted-average ordinary shares outstanding 29,539 Basic and diluted net loss per share $ (0.58) $ (0.34)

Balance sheet components (Table

Balance sheet components (Tables)	3 Months Ended
	Mar. 31, 2019
Balance sheet components
Schedule of other current assets	The following tables represent balance sheet components (in thousands): As of March 31, As of December 31, Other current assets 2019 2018 Royalties $ 1,264 $ 1,464 Software subscriptions 2,071 2,067 Research tax credit 615 612 Unbilled revenue 1,274 941 Prepaid rent 668 149 Prepaid insurance 478 568 Prepaid sales and marketing events 533 1,996 Other assets 2,982 2,028 Other current assets $ 9,885 $ 9,825
Schedule of other non-current assets	As of March 31, As of December 31, Other non-current assets 2019 2018 Research tax credit $ 2,192 $ 2,214 Deposits 938 793 Other non-current assets 1,486 654 Other non-current assets $ 4,616 $ 3,661
Schedule of property and equipment	As of March 31, As of December 31, Property and equipment 2019 2018 Computer equipment and software $ 7,615 $ 6,778 Fixtures and fittings 1,617 1,925 Leasehold improvements 3,871 4,823 Property and equipment, gross 13,103 13,526 Less: accumulated depreciation and amortization (7,524) (7,191) Property and equipment, net $ 5,579 $ 6,335
Schedule of accrued expenses and other liabilities	As of March 31, As of December 31, Accrued expenses and other liabilities 2019 2018 Accrued compensation and benefits $ 17,072 $ 21,343 VAT payable 2,909 5,051 Other taxes 1,007 698 Contingent liabilities 375 408 Other current liabilities 6,657 8,975 Accrued expenses and other liabilities $ 28,020 $ 36,475
Schedule of intangible assets	Intangible assets as of March 31, 2019 and December 31, 2018 included the following (in thousands): March 31, 2019 Gross Carrying Amount Accumulated Amortization Net Weighted Average Customer relationships $ 4,976 $ (2,363) $ 2,613 2 years Acquired developed technology 19,557 (4,177) 15,380 5 years Total $ 24,533 $ (6,540) $ 17,993 December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Weighted Average Customer relationships $ 5,009 $ (1,984) $ 3,025 2 years Acquired developed technology 20,087 (3,692) 16,395 5 years Total $ 25,096 $ (5,676) $ 19,420
Schedule of estimated future amortization expense related to intangible assets	The following table presents the estimated future amortization expense related to intangible assets at March 31, 2019 (in thousands): Amount Remainder of 2019 $ 3,974 2020 5,024 2021 3,649 2022 3,447 2023 1,899 Thereafter — Total amortization expense $ 17,993

Share-based payment plans (Tabl

Share-based payment plans (Tables)	3 Months Ended
	Mar. 31, 2019
Share-based payment plans
Schedule of number of options and warrants outstanding and weighted-average exercise prices ("WAEP") of share options and warrants	Number of Number of employee Number of stock options BSPCE warrants BSA warrants Balance at January 1, 2018 2,282 343 88 Granted during the period 2 — 38 Exercised during the period (167) (24) — Forfeited during the period (37) (1) — Balance at March 31, 2018 2,080 318 126 Balance at January 1, 2019 1,707 229 131 Granted during the period — — — Exercised during the period (88) (22) — Forfeited during the period (93) (2) — Balance at March 31, 2019 1,526 205 131
Schedule summarizes information about stock options outstanding	Number of stock options outstanding WAEP per share WACT (in years) Aggregate intrinsic value Balance at December 31, 2018 1,707 $ 11.95 6.3 $ 42,769 Granted — — Exercised (88) 14.57 Forfeited (93) 19.35 Balance at March 31, 2019 1,526 $ 11.08 5.9 $ 60,211 Vested and expected to vest at March 31, 2019 1,472 $ 10.83 5.9 $ 58,459 Exercisable at March 31, 2019 1,213 $ 9.19 5.6 $ 50,132
Schedule of information about employee warrants outstanding	Number of employee warrants outstanding WAEP per warrant WACT (in years) Aggregate intrinsic value Balance at December 31, 2018 229 $ 15.49 6.7 $ 4,922 Granted — — Exercised (22) 12.04 Forfeited (2) 26.95 Balance at March 31, 2019 205 $ 15.43 6.5 $ 7,197 Vested and expected to vest at March 31, 2019 193 $ 15.19 6.5 $ 6,815 Exercisable at March 31, 2019 150 $ 13.36 6.1 $ 5,594
Schedule of compensation expenses by cost	Three Months Ended March 31, 2018 2019 Cost of revenue - subscriptions $ 177 $ 629 Cost of revenue - professional services 104 527 Sales and marketing 1,181 1,527 Research and development 1,183 2,232 General and administrative 1,376 1,775 Total share-based compensation expense $ 4,021 $ 6,690
RSUs
Share-based payment plans
Schedule of number of options and warrants outstanding and weighted-average exercise prices ("WAEP") of share options and warrants	Number of service- Number of performance- Weighted-average based RSUs based RSUs grant date fair value Balance at December 31, 2018 1,210 301 $ 44.90 Granted 454 351 45.99 Vested and released (19) (14) 34.45 Withheld for taxes — — — Forfeited (70) (181) 42.96 Balance at March 31, 2019 1,575 457 $ 45.10 Expected to vest at March 31, 2019 1,118 359 $ 44.55

Commitments and contingencies (

Commitments and contingencies (Tables)	3 Months Ended
	Mar. 31, 2019
Commitments and contingencies
Schedule of components of lease expense	The components of lease expense as of March 31, 2019 were as follows (in thousands): Amount Operating lease cost $ 302 Amortization of right-of-use assets 1,083 Total lease costs $ 1,385 Amount Operating lease right-of-use assets $ 29,764 Operating lease liabilities $ 30,810 Weighted average remaining lease term for operating leases 7.6 years Weighted average discount rate
Schedule of maturities of lease liabilities	Maturities of lease liabilities as of March 31, 2019 were as follows (in thousands): Maturities of lease liabilities were as follows: Amount Remainder of 2019 $ 3,860 2020 5,100 2021 5,104 2022 5,054 2023 3,967 2024 3,783 Thereafter 10,330 Total lease payments 37,198 Less imputed interest (6,388) Total $ 30,810
Schedule of future minimum undiscounted lease payments under operating leases	Future minimum undiscounted lease payments as of December 31, 2018 were as follows (in thousands): Amount 2019 $ 5,286 2020 5,757 2021 5,591 2022 5,320 2023 4,014 Thereafter 14,832 Total future minimum lease payments $ 40,800

Organization and summary of sig

Organization and summary of significant accounting policies (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Organization and summary of significant accounting policies
Contract liabilities - deferred revenue, current	$ 122,223		$ 127,065
Contract liabilities - deferred revenue, non-current	19,305		$ 23,082
Right-of-use asset	29,764
Operating lease liability	30,810
Restatement
Organization and summary of significant accounting policies
Contract liabilities - deferred revenue, current	2,600
Contract liabilities - deferred revenue, non-current	$ (2,600)
ASU 2016-02 | Restatement
Organization and summary of significant accounting policies
Right-of-use asset		$ 27,100
Operating lease liability		$ 27,700

Business combinations - Stitch,

Business combinations - Stitch, Inc (Details)	Nov. 09, 2018USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Estimated fair values of assets acquired and liabilities assumed:
Goodwill		$ 49,546,000	$ 49,659,000
Stitch, Inc
Business Acquisition [Line Items]
Cash payment	$ 59,500,000
Transaction costs recognized	700,000
Estimated fair values of assets acquired and liabilities assumed:
Cash	1,625,000
Intangible assets	14,700,000
Goodwill	43,435,000
Other assets, net	143,000
Deferred revenue	(410,000)
Net assets acquired	59,493,000
Acquired developed technology | Stitch, Inc
Estimated fair values of assets acquired and liabilities assumed:
Intangible assets	11,400,000
Customer relationships | Stitch, Inc
Estimated fair values of assets acquired and liabilities assumed:
Intangible assets	$ 3,300,000
Customer relationships | Stitch, Inc | Discount rate
Estimated fair values of assets acquired and liabilities assumed:
Intangible assets (as a percent)	13.5

Business combinations - Compone

Business combinations - Components of Stitch, Inc intangible assets (Details) - Stitch, Inc	Nov. 09, 2018USD ($)
Finite-Lived Intangible Assets [Line Items]
Total intangible assets subject to amortization	$ 14,700,000
Acquired developed technology
Finite-Lived Intangible Assets [Line Items]
Total intangible assets subject to amortization	$ 11,400,000
Useful Life (Years)	5 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Total intangible assets subject to amortization	$ 3,300,000
Useful Life (Years)	2 years

Contracts with customers (Detai

Contracts with customers (Details)	3 Months Ended
	Mar. 31, 2019
Contracts with customers
Incremental cost of obtaining a contract	true
Amortization period	5 years

Contracts with customers - Trad

Contracts with customers - Trade receivables, contract acquisition costs and contract liabilities - deferred revenue (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets
Accounts receivables, net	$ 47,691	$ 67,531
Contract assets - unbilled revenue	1,274	941
Contract acquisition costs - current	8,612	9,563
Contract acquisition costs - non-current	20,282	19,390
Total contract assets	77,859	97,424
Liabilities
Contract liabilities - deferred revenue, current	122,223	127,065
Contract liabilities - deferred revenue - non-current	19,305	23,082
Total contract liabilities	$ 141,528	$ 150,147

Contracts with customers - Sign

Contracts with customers - Significant changes in contract acquisition costs and contract liabilities balances (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Contract assets - unbilled revenue
Balance at beginning of period	$ 941
Transferred to accounts receivable from unbilled revenue	(849)
Increase due to new unbilled revenue	1,182
Balance at end of period	1,274
Contract acquisition costs
Balance at beginning of period	28,953
Additional contract acquisition costs deferred	2,690
Amortization of deferred contract costs	(2,749)
Balance at end of period	28,894
Contract liabilities - deferred revenue
Balance at beginning of period	150,147
Performance obligations satisfied during the period that were included in the contract liability balance at the beginning of the period	(44,000)
Increases due to invoicing prior to satisfaction of performance obligations, net of amounts recognized as revenue during the period	35,381
Balance at end of period	141,528
Contract acquisition costs - additional details
Impairment of assets related to contract acquisition cost	$ 0

Contracts with customers - Rema

Contracts with customers - Remaining Performance Obligations (Details) $ in Millions	Mar. 31, 2019USD ($)
Contracts with customers
Remaining performance obligations	$ 172.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Contracts with customers
Remaining performance obligations	$ 131
Remaining performance obligations
Remaining performance obligations period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Contracts with customers
Remaining performance obligations	$ 41.1
Remaining performance obligations
Remaining performance obligations period

Contracts with customers - Disa

Contracts with customers - Disaggregation of revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues by geographic region
Revenue from Contract with Customer, Including Assessed Tax	$ 57,838	$ 46,813
Americas
Revenues by geographic region
Revenue from Contract with Customer, Including Assessed Tax	27,207	20,827
EMEA
Revenues by geographic region
Revenue from Contract with Customer, Including Assessed Tax	26,337	23,253
Asia Pacific
Revenues by geographic region
Revenue from Contract with Customer, Including Assessed Tax	4,294	2,733
France
Revenues by geographic region
Revenue from Contract with Customer, Including Assessed Tax	$ 9,000	$ 8,500

Net loss per share (Details)

Net loss per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Numerator (basic and diluted):
Net loss	$ (17,638)	$ (10,115)
Denominator (basic and diluted):
Weighted-average ordinary shares outstanding	30,243	29,539
Basic and diluted net loss per share	$ (0.58)	$ (0.34)

Fair value measurement - Transf

Fair value measurement - Transfers between levels (Details) - USD ($) $ in Thousands	3 Months Ended		15 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019
Fair value measurement
Transfers from Level 1 to Level 2, Assets	$ 0	$ 0	$ 0
Transfers from Level 2 to Level 1, Assets	0	0	0
Transfers into Level 3, Assets	0	0
Transfers from Level 3, Assets	0	0
Transfers from Level 1 to Level 2, Liability	0	0	0
Transfers from Level 2 to Level 1, Liability	0	0	0
Transfers into Level 3, Liability	$ 0	$ 0
Transfers from Level 3, Liability			$ 0

Balance sheet components - Othe

Balance sheet components - Other current and non-current assets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Balance sheet components
Royalties	$ 1,264	$ 1,464
Software subscriptions	2,071	2,067
Research tax credit	615	612
Unbilled revenue	1,274	941
Prepaid rent	668	149
Prepaid insurance	478	568
Prepaid sales and marketing events	533	1,996
Other assets	2,982	2,028
Other current assets	9,885	9,825
Research tax credit	2,192	2,214
Deposits	938	793
Other non-current assets	1,486	654
Other non-current assets	$ 4,616	$ 3,661

Balance sheet components - Prop

Balance sheet components - Property and equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Property and equipment
Property and equipment, gross	$ 13,103	$ 13,526
Less: accumulated depreciation and amortization	(7,524)	(7,191)
Property and equipment, net	5,579	6,335
Computer equipment and software
Property and equipment
Property and equipment, gross	7,615	6,778
Fixtures and fittings
Property and equipment
Property and equipment, gross	1,617	1,925
Leasehold improvements
Property and equipment
Property and equipment, gross	$ 3,871	$ 4,823

Balance sheet components - Accr

Balance sheet components - Accrued expenses and other liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Balance sheet components
Accrued compensation and benefits	$ 17,072	$ 21,343
VAT payable	2,909	5,051
Other taxes	1,007	698
Contingent liabilities	375	408
Other current liabilities	6,657	8,975
Accrued expenses and other liabilities	$ 28,020	$ 36,475

Balance sheet components - Inta

Balance sheet components - Intangible assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 24,533		$ 25,096
Accumulated Amortization	(6,540)		(5,676)
Net	17,993		19,420
Amortization expense for intangible assets	1,330	$ 529
Estimated future amortization expense related to intangible assets
Remainder of 2019	3,974
2020	5,024
2021	3,649
2022	3,447
2023	1,899
Net	17,993		19,420
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,976		5,009
Accumulated Amortization	(2,363)		(1,984)
Net	$ 2,613		3,025
Weighted Average Remaining Useful Life	2 years	2 years
Estimated future amortization expense related to intangible assets
Net	$ 2,613		3,025
Acquired developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	19,557		20,087
Accumulated Amortization	(4,177)		(3,692)
Net	$ 15,380		16,395
Weighted Average Remaining Useful Life	5 years	5 years
Estimated future amortization expense related to intangible assets
Net	$ 15,380		$ 16,395

Debt (Details)

Debt (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Feb. 14, 2019	Dec. 31, 2018
Debt
Debt due within twelve months	$ 256,000		$ 208,000
Debt covenants, cash and cash equivalents plus loans available to be drawn	15,000,000
Fee on undrawn amount	0.25
Amount drawn on credit facility	0
Bpifrance Financement | Restlet
Debt
Net debt assumed	1,200,000
Debt outstanding	900,000		900,000
Debt due within twelve months	$ 300,000		$ 200,000
Revolving credit facility
Debt
Line of credit borrowing		$ 30,000,000

Share capital and reserves (Det

Share capital and reserves (Details) - EUR (€) € / shares in Units, € in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Share capital and reserves
Ordinary shares outstanding	30,359,600	30,158,374
Ordinary shares nominal value per share	€ 0.08
Shares issued upon exercise of stock option, employee warrants and warrants classified as share based payments	109,693
Value of shares issued upon exercise of stock option, employee warrants and warrants classified as share based payments	€ 1.4

Share capital and reserves - Ot

Share capital and reserves - Other reserves (Details) € / shares in Units, $ in Millions	Aug. 06, 2016USD ($)	Mar. 31, 2019EUR (€)€ / shares
Share capital and reserves
Share premium | $	$ 8.4
Restricted reserve | €		€ 162,652
Amount withdrawn from the restricted reserve upon vesting of each share | € / shares		€ 0.08

Share-based payment plans - Opt

Share-based payment plans - Options and warrants outstanding and weighted-average exercise prices (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Stock Options
Stock Options
Number of stock options outstanding at beginning of year (in shares)	1,707	2,282
Granted during the year (in shares)		2
Exercised during the year (in shares)	(88)	(167)
Forfeited during the year (in shares)	(93)	(37)
Number of stock options outstanding at end of year (in shares)	1,526	2,080
Employee warrants (BSPCE)
Stock Options
Number of stock options outstanding at beginning of year (in shares)	229	343
Exercised during the year (in shares)	(22)	(24)
Forfeited during the year (in shares)	(2)	(1)
Number of stock options outstanding at end of year (in shares)	205	318
Warrants (BSA)
Stock Options
Number of stock options outstanding at beginning of year (in shares)	131	88
Granted during the year (in shares)		38
Number of stock options outstanding at end of year (in shares)	131	126

Share-based payment plans - Con

Share-based payment plans - Contractual life and Authorized shares (Details)	3 Months Ended
	Mar. 31, 2019shares
Share-based payment plans
Number of stock options, employee warrants (BSPCE) and warrants (BSA) available for grant under the Company's share pool reserve	930,723
Vesting period	4 years
One year anniversary of grant
Share-based payment plans
Vesting percentage	25.00%
Quarterly after one year
Share-based payment plans
Vesting percentage	0.0625%
Stock Options
Share-based payment plans
Vesting period	10 years
Contractual life of share-based awards	3 months

Share-based payment plans - Sto

Share-based payment plans - Stock Options (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Dec. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
WACT and Aggregate intrinsic value
Total intrinsic value of stock options exercised		$ 2,700
Stock Options
Stock Options
Number of stock options outstanding at beginning of year (in shares)		1,707	2,282
Granted during the year (in shares)			2
Exercised during the year (in shares)		(88)	(167)
Forfeited during the year (in shares)		(93)	(37)
Number of stock options outstanding at end of year (in shares)	1,707	1,526	2,080
Vested and expected to vest at end of period (in shares)		1,472
Exercisable at end of period (in shares)		1,213
WAEP per share
Balance at beginning of period (in dollars per share)		$ 11.95
Exercised (in dollars per share)		14.57
Forfeited (in dollars per share)		19.35
Balance at end of period (in dollars per share)	$ 11.95	11.08
Vested and expected to vest at end of period (in dollars per share)		10.83
Exercisable at end of period (in dollars per share)		$ 9.19
WACT and Aggregate intrinsic value
Outstanding WACT (in years)	6 years 3 months 18 days	5 years 10 months 24 days
Vested and expected to vest at end of period (in years)		5 years 10 months 24 days
Exercisable at end of period (in years)		5 years 7 months 6 days
Outstanding Aggregate intrinsic value	$ 42,769	$ 60,211
Vested and expected to vest aggregate intrinsic value		58,459
Exercisable aggregate intrinsic value		$ 50,132

Share-based payment plans - Emp

Share-based payment plans - Employee warrants (BSPCE) (Details) - Employee warrants (BSPCE) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2019	Dec. 31, 2018
Warrants
Unvested balance at beginning of year (in shares)	229
Exercised during the year (in shares)	(22)
Forfeited during the year (in shares)	(2)
Unvested balance at end of year (in shares)	205	229
Vested and expected to vest at end of period (in shares)			193
Exercisable at end of period (in shares)			150
Weighted-average grant date fair value
Unvested balance at beginning of period (in dollars per share)	$ 15.49
Exercised during the period (in dollars per share)	12.04
Forfeited during the period (in dollars per share)	26.95
Unvested balance at end of period (in dollars per share)	$ 15.43	$ 15.49
Vested and expected to vest at end of period (in dollars per share)			$ 15.19
Exercisable at end of period (in dollars per share)			$ 13.36
WACT (in years)
Outstanding WACT (in years)	6 years 6 months	6 years 8 months 12 days
Vested and expected to vest at end of period (in years)	6 years 6 months
Exercisable at end of period (in years)	6 years 1 month 6 days
Aggregate intrinsic value
Outstanding aggregate intrinsic value			$ 7,197	$ 4,922
Vested and expected to vest aggregate intrinsic value			6,815
Exercisable aggregate intrinsic value			$ 5,594
Number of employee warrants outstanding	229	229	205	229

Share-based payment plans - Res

Share-based payment plans - Restricted Stock Units (RSU) (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Share-based payment plans
Vesting period	4 years
Service-based RSUs
Share-based payment plans
Vesting period	4 years
Restricted Stock Units (RSU)
Unvested balance at beginning of year (in shares)	1,210
Granted during the year (in shares)	454
Vested and released during the period (in shares)	(19)
Forfeited during the year (in shares)	(70)
Unvested balance at end of year (in shares)	1,575
Expected to vest at end of period (in shares)	1,118
Performance-based RSUs
Share-based payment plans
Vesting period	4 years
Restricted Stock Units (RSU)
Unvested balance at beginning of year (in shares)	301
Granted during the year (in shares)	351
Vested and released during the period (in shares)	(14)
Forfeited during the year (in shares)	(181)
Unvested balance at end of year (in shares)	457
Expected to vest at end of period (in shares)	359
Weighted-average grant date fair value
Unvested balance at beginning of period (in dollars per share) | $ / shares	$ 44.90
Granted during the period (in dollars per share) | $ / shares	45.99
Vested and released during the period (in dollars per share) | $ / shares	34.45
Forfeited during the period (in dollars per share) | $ / shares	42.96
Unvested balance at end of period (in dollars per share) | $ / shares	45.10
Expected to vest at end of period (in dollars per share) | $ / shares	$ 44.55
One year anniversary of grant
Share-based payment plans
Vesting percentage	25.00%
One year anniversary of grant | Service-based RSUs
Share-based payment plans
Vesting percentage	25.00%

Share-based payment plans - War

Share-based payment plans - Warrants (BSA) (Details)	Mar. 31, 2019
Warrants (BSA)
Share-based payment plans
Minimum percentage of subscribed price over the exercise price	5.00%

Share-based payment plans - E_2

Share-based payment plans - Employee stock purchase plan (Details)	3 Months Ended
	Mar. 31, 2019USD ($)itemshares
Share-based payment plans
Vesting period	4 years
ADS | Employee Stock Purchase Plan
Share-based payment plans
Number of ordinary shares | item	1
Ordinary shares available for the sale of ESPP | shares	571,000
Payroll deduction percentage	15.00%
Number of consecutive offering periods | item	2
Vesting period	6 months
Fair value Of A DS To calculate Purchase Price	85.00%
Maximum value Of ADS that can be purchased by employee | $	$ 25,000
Future Employee purchase under the ESPP | $	$ 800,000

Share-based payment plans - Com

Share-based payment plans - Compensation expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based payment plans
Total stock-based compensation expense	$ 6,690	$ 4,021
Unrecognized compensation expenses	$ 47,400
Period of recognition for unrecognized compensation expense	2 years 2 months 12 days
Cost of revenue | Subscriptions
Share-based payment plans
Total stock-based compensation expense	$ 629	177
Cost of revenue | Professional services
Share-based payment plans
Total stock-based compensation expense	527	104
Sales and marketing
Share-based payment plans
Total stock-based compensation expense	1,527	1,181
Research and development
Share-based payment plans
Total stock-based compensation expense	2,232	1,183
General and administrative
Share-based payment plans
Total stock-based compensation expense	$ 1,775	$ 1,376

Commitments and contingencies_2

Commitments and contingencies (Details)	3 Months Ended
	Mar. 31, 2019
Commitments and contingencies
Options to extend	true
Options to terminate	true

Commitments and contingencies -

Commitments and contingencies - Components of lease expense (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Lease Expense
Operating lease cost	$ 302
Amortization of right-of-use assets	1,083
Total lease costs	1,385
Operating lease right-of-use assets	29,764
Operating lease liabilities	$ 30,810
Weighted average remaining lease term for operating leases	7 years 7 months 6 days
Weighted average discount rate	5.80%

Commitments and contingencies_3

Commitments and contingencies - Maturities of lease liabilities (Details) $ in Thousands	Mar. 31, 2019USD ($)
Maturities of lease liabilities
Remainder of 2019	$ 3,860
2020	5,100
2021	5,104
2022	5,054
2023	3,967
2024	3,783
Thereafter	10,330
Total lease payments	37,198
Less imputed interest	(6,388)
Total	$ 30,810

Commitments and contingencies_4

Commitments and contingencies - Future minimum undiscounted lease payment prior to adoption of new lease standard (Details) $ in Thousands	Dec. 31, 2018USD ($)
Future minimum undiscounted lease payments prior to adoption of new lease standard
2019	$ 5,286
2020	5,757
2021	5,591
2022	5,320
2023	4,014
Thereafter	14,832
Total future minimum lease payments	$ 40,800

Income tax (Details)

Income tax (Details)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income tax
Annual effective tax rate before discrete items	0.90%	2.90%
Statutory income tax rate (as a percent)	31.00%	33.30%

Related party transactions (Det

Related party transactions (Details) - Bpifrance Financement - Restlet - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Related party transactions
Net debt assumed	$ 1.2
Debt carrying value	$ 0.9	$ 0.9