Talend (TLND) 10-Q 28 Jul 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2021	Jul. 19, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-37825
Entity Registrant Name	Talend S.A.
Entity Incorporation, State or Country Code	I0
Entity Address, Address Line One	5-7, rue Salomon de Rothschild
Entity Address, City or Town	Suresnes
Entity Address, Country	FR
Entity Address, Postal Zip Code	92150
Country Region	+33
City Area Code	(0) 1 4
Local Phone Number	6 25 06 00
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		32,909,599
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001668105
Amendment Flag	false
American Depositary Shares
Document Information [Line Items]
Title of each class	American Depositary Shares, each representing oneordinary share, nominal value €0.08 per share
Trading Symbol(s)	TLND
Name of each exchange on which registered	NASDAQ
Ordinary shares
Document Information [Line Items]
Title of each class	Ordinary shares, nominal value €0.08 per share*
Name of each exchange on which registered	NASDAQ
No Trading Symbol Flag	true

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 162,263	$ 162,855
Accounts receivable, net of allowance for doubtful accounts of $797 and $1,244, respectively	68,418	95,967
Deferred commissions, current	13,432	12,771
Other current assets	13,948	11,150
Total current assets	258,061	282,743
Non-current assets:
Deferred commissions, non-current	28,317	26,889
Operating lease right-of-use assets	32,385	35,987
Property and equipment, net	8,888	9,273
Goodwill	50,091	50,294
Intangible assets, net	7,282	9,236
Other non-current assets	4,751	5,308
Total non-current assets	131,714	136,987
Total assets	389,775	419,730
Current liabilities:
Accounts payable	2,254	2,760
Accrued expenses and other current liabilities	43,248	46,720
Deferred revenue, current	152,787	160,215
Operating lease liabilities, current	5,191	4,798
Total current liabilities	203,480	214,493
Non-current liabilities:
Deferred income taxes	257	345
Other non-current liabilities	2,051	2,197
Deferred revenue, non-current	11,067	12,590
Operating lease liabilities, non-current	29,819	33,251
Long-term debt	146,235	148,129
Total non-current liabilities	189,429	196,512
Total liabilities	392,909	411,005
Commitments and contingencies (Note 8)
STOCKHOLDERS' (DEFICIT) EQUITY
Ordinary shares, par value €0.08 per share; 32,903,098 and 32,010,526 shares authorized, issued and outstanding, respectively	3,381	3,295
Additional paid-in capital	397,676	366,508
Accumulated other comprehensive income (loss)	(720)	(2,941)
Accumulated losses	(403,471)	(358,137)
Total stockholders’(deficit) equity	(3,134)	8,725
Total liabilities and stockholders’ (deficit) equity	$ 389,775	$ 419,730

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) $ in Thousands	Jun. 30, 2021USD ($)shares	Jun. 30, 2021€ / shares	Dec. 31, 2020USD ($)shares	Dec. 31, 2020€ / shares
Current assets:
Allowance for doubtful accounts | $	$ 797		$ 1,244
STOCKHOLDERS' (DEFICIT) EQUITY
Common stock, par value (in euro per share) | € / shares		€ 0.08		€ 0.08
Common stock, shares authorized (in shares)	32,903,098		32,010,526
Common stock, shares issued (in shares)	32,903,098		32,010,526
Common stock, shares outstanding (in shares)	32,903,098		32,010,526

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue
Total revenue	$ 80,901	$ 67,738	$ 160,819	$ 135,857
Cost of revenue
Total cost of revenue	19,447	15,206	37,465	29,971
Gross profit	61,454	52,532	123,354	105,886
Operating expenses
Sales and marketing	42,186	39,531	84,813	77,784
Research and development	20,401	17,639	41,385	33,573
General and administrative	18,767	14,997	38,660	30,652
Total operating expenses	81,354	72,167	164,858	142,009
Loss from operations	(19,900)	(19,635)	(41,504)	(36,123)
Interest income (expense), net	(2,151)	(1,922)	(4,235)	(3,727)
Other income (expense), net	(355)	67	229	265
Loss before benefit (provision) for income taxes	(22,406)	(21,490)	(45,510)	(39,585)
Benefit (provision) for income taxes	298	(19)	176	(66)
Net loss	$ (22,108)	$ (21,509)	$ (45,334)	$ (39,651)
Net loss per share attributable to ordinary shareholders, basic (in dollars per share)	$ (0.68)	$ (0.68)	$ (1.40)	$ (1.27)
Net loss per share attributable to ordinary shareholders, diluted (in dollars per share)	$ (0.68)	$ (0.68)	$ (1.40)	$ (1.27)
Weighted-average shares outstanding used to compute net loss per share attributable to ordinary shareholders, basic (in shares)	32,677	31,428	32,449	31,308
Weighted-average shares outstanding used to compute net loss per share attributable to ordinary shareholders, diluted (in shares)	32,677	31,428	32,449	31,308
Subscriptions
Revenue
Total revenue	$ 73,912	$ 60,885	$ 146,287	$ 121,794
Cost of revenue
Total cost of revenue	13,412	8,947	25,246	16,971
Professional services
Revenue
Total revenue	6,989	6,853	14,532	14,063
Cost of revenue
Total cost of revenue	$ 6,035	$ 6,259	$ 12,219	$ 13,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (22,108)	$ (21,509)	$ (45,334)	$ (39,651)
Other comprehensive gain (loss)
Foreign currency translation adjustment	(614)	(563)	2,221	(474)
Total comprehensive loss	$ (22,722)	$ (22,072)	$ (43,113)	$ (40,125)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' (DEFICIT) EQUITY - USD ($) $ in Thousands	Total	Ordinary shares	Additional paid-in capital	Accumulated other comprehensive income	Accumulated loss
Balance as of the beginning of the period (in shares) at Dec. 31, 2019		31,017,268
Balance as of the beginning of the period at Dec. 31, 2019	$ 35,952	$ 3,205	$ 310,195	$ 1,107	$ (278,555)
Increase (Decrease) in Stockholders' Equity
Net loss for the period	(39,651)				(39,651)
Other comprehensive gain (loss)	(474)			(474)
Shares issued from restricted stock unit vesting (in shares)		276,760
Shares issued from restricted stock unit vesting	0	$ 24	(24)
Exercise of stock awards (in shares)		169,526
Exercise of stock awards	1,853	$ 15	1,838
Issuance of ordinary shares in connection with employee stock purchase plan (in shares)		72,975
Issuance of ordinary shares in connection with employee stock purchase plan	2,287	$ 6	2,281
Share-based compensation	21,553		21,553
Balance as of the end of the period (in shares) at Jun. 30, 2020		31,536,529
Balance as of the end of the period at Jun. 30, 2020	21,520	$ 3,250	335,843	633	(318,206)
Balance as of the beginning of the period (in shares) at Mar. 31, 2020		31,337,694
Balance as of the beginning of the period at Mar. 31, 2020	32,119	$ 3,233	324,387	1,196	(296,697)
Increase (Decrease) in Stockholders' Equity
Net loss for the period	(21,509)				(21,509)
Other comprehensive gain (loss)	(563)			(563)
Shares issued from restricted stock unit vesting (in shares)		175,237
Shares issued from restricted stock unit vesting	0	$ 15	(15)
Exercise of stock awards (in shares)		23,598
Exercise of stock awards	249	$ 2	247
Share-based compensation	11,224		11,224
Balance as of the end of the period (in shares) at Jun. 30, 2020		31,536,529
Balance as of the end of the period at Jun. 30, 2020	21,520	$ 3,250	335,843	633	(318,206)
Balance as of the beginning of the period (in shares) at Dec. 31, 2020		32,010,526
Balance as of the beginning of the period at Dec. 31, 2020	8,725	$ 3,295	366,508	(2,941)	(358,137)
Increase (Decrease) in Stockholders' Equity
Net loss for the period	(45,334)				(45,334)
Other comprehensive gain (loss)	2,221			2,221
Shares issued from restricted stock unit vesting (in shares)		486,120
Shares issued from restricted stock unit vesting	0	$ 47	(47)
Exercise of stock awards (in shares)		292,385
Exercise of stock awards	4,916	$ 28	4,888
Issuance of ordinary shares in connection with employee stock purchase plan (in shares)		114,067
Issuance of ordinary shares in connection with employee stock purchase plan	4,179	$ 11	4,168
Share-based compensation	22,159		22,159
Balance as of the end of the period (in shares) at Jun. 30, 2021		32,903,098
Balance as of the end of the period at Jun. 30, 2021	(3,134)	$ 3,381	397,676	(720)	(403,471)
Balance as of the beginning of the period (in shares) at Mar. 31, 2021		32,572,335
Balance as of the beginning of the period at Mar. 31, 2021	6,391	$ 3,349	384,511	(106)	(381,363)
Increase (Decrease) in Stockholders' Equity
Net loss for the period	(22,108)				(22,108)
Other comprehensive gain (loss)	(614)			(614)
Shares issued from restricted stock unit vesting (in shares)		249,577
Shares issued from restricted stock unit vesting	0	$ 24	(24)
Exercise of stock awards (in shares)		50,613
Exercise of stock awards	1,290	$ 5	1,285
Issuance of ordinary shares in connection with employee stock purchase plan (in shares)		30,573
Issuance of ordinary shares in connection with employee stock purchase plan	1,380	$ 3	1,377
Share-based compensation	10,527		10,527
Balance as of the end of the period (in shares) at Jun. 30, 2021		32,903,098
Balance as of the end of the period at Jun. 30, 2021	$ (3,134)	$ 3,381	$ 397,676	$ (720)	$ (403,471)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net loss for the period	$ (45,334)	$ (39,651)
Adjustments to reconcile net loss to net cash (used in) from operating activities:
Depreciation	2,052	1,636
Amortization of intangible assets	1,875	2,639
Amortization of debt discount and issuance costs	2,887	2,541
Amortization of deferred commissions	7,068	5,735
Non-cash operating lease cost	3,669	2,987
Unrealized (gain) foreign exchange	(1,790)	(927)
Interest accrued on 2024 Convertible Notes	1,474	1,352
Share-based compensation	22,159	21,553
Changes in operating assets and liabilities:
Accounts receivable	26,258	29,003
Deferred commissions	(9,521)	(6,404)
Other assets	(2,494)	(2,452)
Accounts payable	(465)	(2,561)
Accrued expenses and other current liabilities	(4,837)	(6,338)
Deferred revenue	(6,563)	(18,409)
Operating lease liabilities	(2,573)	(2,955)
Net cash (used in) operating activities	(6,135)	(12,251)
Cash flows from investing activities:
Acquisition of property and equipment	(1,862)	(3,165)
Net cash used in investing activities	(1,862)	(3,165)
Cash flows from financing activities:
Proceeds from issuance of ordinary shares related to exercise of stock awards	4,916	1,853
Proceeds from issuance of ordinary shares related to employee stock purchase plan	4,179	2,287
Repayment of borrowings	0	(660)
Net cash from financing activities	9,095	3,480
Net increase (decrease) in cash and cash equivalents	1,098	(11,936)
Cash and cash equivalents at beginning of the period	162,855	177,075
Effect of exchange rate changes on cash and cash equivalents	(1,690)	(171)
Cash and cash equivalents at end of the period	$ 162,263	$ 164,968

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Summary of Significant Accounting Policies	Organization and Summary of Significant Accounting Policies Business Talend S.A. (“the Company”) is a leader in data integration and data integrity. 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. The Company, organized under the laws of France in 2005, has its registered office located at 5-7, rue Salomon de Rothschild, 92150 Suresnes, France. 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 consolidated balance sheets as of June 30, 2021 and December 31, 2020, the consolidated statements of operations, the consolidated statements of comprehensive loss and the consolidated statements of stockholders’(deficit) equity for the three and six months ended June 30, 2021 and June 30, 2020, and the consolidated statements of cash flows for the six months ended June 30, 2021 and June 30, 2020. 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. 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, 2020 filed with the SEC on March 1, 2021. Pending Acquisition by Thoma Bravo On March 10, 2021, the Company entered into a Memorandum of Understanding (the “MoU”) with Tahoe Bidco (Cayman) LLC, an exempted company incorporated under the laws of the Cayman Islands (“Parent”) and an affiliate of Thoma Bravo, L.P. (“Thoma Bravo”), a leading private equity investment firm focused on the software and technology-enabled services sectors. Pursuant to the MoU, Parent has agreed to cause Tahoe Bidco B.V., a private company with limited liability ( besloten vennootschap met beperkte aansprakelijkheid ) organized under the laws of the Netherlands and an affiliated entity of Thoma Bravo and Parent to commence a tender offer to acquire all of the outstanding ordinary shares and American Depositary Shares (“ADSs”) of the Company, for $66.00 per ordinary share and ADS (each ADS representing one ordinary share) in cash. The offer values the Company at approximately $2.4 billion and is expected to be completed in the third calendar quarter of 2021. The closing of the transaction is subject to the valid tender pursuant to the tender offer of ordinary shares and ADSs of the Company representing – together with ordinary shares and ADSs of the Company then beneficially owned by Thoma Bravo, if any – at least 80% of the outstanding ordinary shares and ADSs, and other customary closing conditions. If the MoU is terminated under certain circumstances, the Company will be required to pay to Parent a termination fee of approximately $48 million. The MoU contains representations, warranties and covenants of Parent and the Company that are customary for a transaction of this nature, including among others, covenants regarding the conduct of the Company’s business during the pendency of the transactions. Refer to Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations for further details. 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 and the determination of the stand-alone selling price), the amortization period for deferred commissions, contract period of leases, 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 Company’s significant accounting polices disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 1, 2021, that have had a material impact on the Company’s condensed consolidated financial statements and related notes. Recently adopted accounting standards In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This standard simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in Topic 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill and allocating consolidated income taxes to separate financial statements of entities not subject to income tax. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, including interim periods therein, with early adoption permitted. Upon adoption, the Company must apply certain aspects of this standard retrospectively for all periods presented while other aspects are applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company adopted ASU 2019-12 effective January 1, 2021 and the adoption did not have a material impact on our consolidated financial statements. Accounting standards issued not yet adopted In August 2020, the FASB issued ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. ASU 2020-06 simplifies the accounting for convertible instruments by removing the separation models in Subtopic 470-20 that required embedded conversion features to be separated from the host contract for convertible instruments with conversion features that are not required to be accounted for as derivatives under Topic 815, Derivatives and Hedging, or that do not result in substantial premiums accounted for as paid-in capital. Consequently, a convertible debt instrument will be accounted for as a single liability measured at its amortized cost and a convertible preferred stock will be accounted for as a single equity instrument measured at its historical cost, as long as no other features require bifurcation and recognition as derivatives. The new standard also requires entities to use the if-converted method for all convertible instruments in the diluted earnings per share calculation and include the effect of share settlement for instruments that may be settled in cash or shares, except for certain liability-classified share-based payment awards. ASU 2020-06 is effective for the Company beginning January 1, 2022, although early adoption is permitted for fiscal periods beginning January 1, 2021. The new standard can be adopted using either a modified or full retrospective transition method. The Company is currently evaluating the impact of ASU 2020-06 on its consolidated financial statements.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Contract Liabilities 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 consolidated balance sheet. Deferred revenue, including current and non-current balances, was $163.9 million and $172.8 million as of June 30, 2021 and December 31, 2020, respectively. Revenue recognized from the deferred revenue balances at the beginning of each period was $62.1 million and $50.6 million for the three months ended June 30, 2021 and 2020, respectively. Revenue recognized from the deferred revenue balances at the beginning of each period was $110.6 million and $93.8 million for the six months ended June 30, 2021 and 2020, respectively. Remaining Performance Obligations The Company’s contracts with customers include amounts allocated to performance obligations of $247.7 million that will be satisfied at a later date. As of June 30, 2021, $179.3 million of deferred revenue and backlog is expected to be recognized from remaining performance obligations over the next 12 months, and approximately $68.4 million thereafter. Contract assets The Company may record assets for amounts related to performance obligations that are satisfied but not yet billed and/or collected. These assets, or unbilled revenue, are classified as accounts receivable, net in the consolidated balance sheet. Unbilled revenue was $2.5 million and $2.8 million as of June 30, 2021 and December 31, 2020, respectively. Deferred Commissions The Company recognizes sales commissions earned by the Company’s sales force that are considered incremental and recoverable costs of obtaining a contract with a customer as deferred commissions in the consolidated balance sheet. Deferred commissions, including current and non-current balances, were $41.7 million and $39.7 million as of June 30, 2021 and December 31, 2020, respectively. Amortization expense of deferred commissions, was $3.6 million and $2.9 million for the three months ended June 30, 2021 and 2020, respectively. Amortization expense of deferred commissions, was $7.1 million and $5.7 millions for the six months ended June 30, 2021 and 2020, respectively. There were no impairments of assets related to Company’s deferred commissions during the period ended June 30, 2021. Disaggregation of Revenues The following table sets forth the Company’s total revenue by region for the periods indicated (in thousands). The revenues by geographic region were determined based on the country where the sale took place. Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Americas $ 36,722 $ 31,373 $ 72,522 $ 62,540 EMEA 36,243 28,852 71,896 58,738 Asia Pacific 7,936 7,513 16,401 14,579 Total revenue $ 80,901 $ 67,738 $ 160,819 $ 135,857

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	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 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 both of the three ans six months ended June 30, 2021 and 2020, the diluted loss per share is equal to basic loss per share because the effects of potentially dilutive shares, which include shares from share-based awards and convertible senior notes, were anti-dilutive. During 2019, the Company issued 1.75% Convertible Senior Notes due September 1, 2024 (the “2024 Notes”) (see Note 6, Debt, for more details). Since the Company may settle the principal amount of the outstanding 2024 Notes in a combination of cash and shares, the Company uses the if-converted method for calculating any potential dilutive effect of the conversion spread on the diluted net income per ordinary share when the average market price of the Company’s ordinary shares, each represented by an ADS, for a given period exceeds the initial conversion price of €51.75 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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 Numerator (basic and diluted): Net loss $ (22,108) $ (21,509) (45,334) (39,651) Denominator (basic and diluted): Weighted-average ordinary shares outstanding 32,677 31,428 32,449 31,308 Basic and diluted net loss per share $ (0.68) $ (0.68) (1.40) (1.27)

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company reports assets and liabilities recorded at fair value on the Company’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 judgment 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 balance sheet, but which require disclosure of their fair values include: cash and cash equivalents, accounts receivable and certain other receivables, deposits, accounts payable and certain other payables and the 2024 Notes. The fair values of these financial instruments, other than the 2024 Notes, are deemed to approximate their carrying amount. The fair values of cash and cash equivalents, accounts receivable and certain other receivables, deposits, accounts payable and certain other payables are categorized as Level 1. The fair value of the 2024 Notes was categorized as Level 2 and was estimated based on a discounted cash flow method using a market interest rate for similar debt. As of June 30, 2021, the fair value of the 2024 Notes was $150.2 million. There were no transfers between levels of the fair value hierarchy during the six month periods ended June 30, 2021 or 2020.

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2021
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	Balance Sheet Components Accrued expenses and other liabilities consisted of the following (in thousands): June 30, 2021 December 31, 2020 Accrued compensation and benefits $ 28,730 $ 30,371 VAT payable 4,678 7,889 Other taxes 254 885 Contingent liabilities 412 703 Other current liabilities 9,174 6,872 Accrued expenses and other liabilities $ 43,248 $ 46,720 Property and equipment, net consisted of the following (in thousands): June 30, 2021 December 31, 2020 Computer equipment and software $ 13,203 $ 12,905 Fixtures and fittings 3,635 3,496 Leasehold improvements 4,677 4,918 Property and equipment, gross 21,515 21,319 Less: accumulated depreciation (12,627) (12,046) Property and equipment, net $ 8,888 $ 9,273 Depreciation expen se related to property and equipment was $0.9 million and $0.8 million for the three months periods ended June 30, 2021 and 2020, respectively, and $1.8 million and $1.6 million for the six months ended June 30, 2021 and 2020, respectively. Intangible assets as of June 30, 2021 and December 31, 2020 included the following (in thousands): June 30, 2021 December 31, 2020 Gross Accumulated Net Gross Accumulated Net Weighted Customer relationships $ 5,076 $ (5,076) $ — $ 5,134 $ (5,134) $ 0 0 years Acquired developed technology 20,044 (12,762) 7,282 20,329 (11,093) 9,236 2 years Total $ 25,120 $ (17,838) $ 7,282 $ 25,463 $ (16,227) $ 9,236 Amortization expense for intangible assets was $0.9 million and $1.3 million for the three months periods ended June 30, 2021 and 2020, respectively, and $1.9 million and $2.6 million for the six months ended June 30, 2021 and 2020, respectively. The following table presents the estimated future amortization expense related to intangible assets as of June 30, 2021 (in thousands): Amount Remainder of 2021 $ 1,865 2022 3,517 2023 1,900 2024 — Thereafter — Total amortization expense $ 7,282

Debt

Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Convertible Senior Notes due September 1, 2024 In September 2019, the Company issued an aggregate principal amount of €125.0 million of the 2024 Notes and an additional €14.8 million pursuant to the partial exercise of the option to purchase additional 2024 Notes granted to the initial purchasers, in a private placement, pursuant to an exemption from the registration requirements afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), to qualified institutional buyers (as defined in Rule 144A promulgated under the Securities Act). The net proceeds from the issuance, after deducting initial purchaser discounts and debt issuance costs of €6.0 million, were €133.8 million. The 2024 Notes mature on September 1, 2024, unless earlier repurchased, redeemed or converted, and bear interest at a fixed rate of 1.75% per year payable semi-annually on March 1 and September 1 of each year. Each €1,000 of principal amount of the 2024 Notes will initially be convertible, subject to adjustment upon the occurrence of specified events, into 19.3234 ADSs, corresponding to 19.3234 of the Company’s ordinary shares per €1,000 principal amount of the 2024 Notes as of the date hereof, which initial conversion rate is equivalent to an initial conversion price of approximately €51.75 per ADS calculated on the basis of the closing price of the Company’s ADSs of $38.72 and a euro to U.S. Dollar exchange rate of €1 to $1.1036 on the pricing date of the 2024 Notes. Refer to Note 9, Debt , of the Company’s consolidated financial statements for the year ended December 31, 2020 for details of the issuance of the 2024 Notes. As of June 30, 2021, none of the conditions permitting the holders of the 2024 Notes to early convert had been met. Therefore, the 2024 Notes were classified as long-term debt for such period. Holders of the 2024 Notes have the right to require the Company to repurchase all or a portion of their 2024 Notes upon the occurrence of a “fundamental change” (as defined in the indenture for the 2024 Notes) before the maturity date at a repurchase price equal to 100% of the principal amount of the 2024 Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change repurchase date. If consummated, the pending acquisition by Thoma Bravo would result in the occurrence of a “fundamental change” under the indenture for the 2024 Notes. In addition, the pending acquisition by Thoma Bravo, if consummated, would trigger a conditional conversion feature that would entitle holders of 2024 Notes to convert their 2024 Notes during a specified period at their option. Upon conversion of the 2024 Notes, unless we elect to deliver solely ADSs to settle such conversion (other than paying cash in lieu of delivering any fractional share), we will be required to make cash payments in respect of the 2024 Notes being converted. The pending tender offer by Thoma Bravo, if consummated, will also constitute a "make-whole fundamental change" (as defined in the indenture for the 2024 Notes) that not only will permit holders of the 2024 Notes to elect to convert their 2024 Notes, but also require us to increase the conversion rate for the 2024 Notes that any note holders elect to convert in connection with such make-whole fundamental change. The net carrying amount of the 2024 Notes was as follows as of June 30, 2021 and December 31, 2020 (in thousands): June 30, 2021 December 31, 2020 Principal $ 166,107 $ 171,599 Unamortized debt discount (15,849) (18,704) Unamortized debt issuance costs (4,023) (4,766) Net carrying amount $ 146,235 $ 148,129 The net carrying amount of the equity component of the 2024 Notes was as follows as of June 30, 2021 and December 31, 2020 (in thousands): June 30, 2021 December 31, 2020 Gross amount $ 21,866 $ 21,866 Allocated debt issuance costs (945) (945) Net carrying amount $ 20,921 $ 20,921 Interest expense related to the 2024 Notes was as follows during the three and six months ended June 30, 2021 and 2020 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Contractual interest expense $ 737 $ 674 $ 1,474 $ 1,352 Amortization of debt discount 1,157 1,008 2,287 2,006 Amortization of issuance costs 301 267 600 535 Total $ 2,195 $ 1,949 $ 4,361 $ 3,893

Equity Incentive Plans

Equity Incentive Plans	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Equity Incentive Plans	Equity Incentive Plans In June 2020, the Company's shareholders delegated authority to the Company's board of directors to grant stock options and RSUs to employees, and warrants (BSA) to the company's directors and consultants, superseding and replacing the previous delegations of authority to grant equity awards. Consequently, in August 2020, the Company adopted the 2020 Free Share Plan (the "Free Share Plan") and the 2020 Stock Option Plan (the "Stock Option Plan"). The Free Share Plan provides for the grant of RSUs to the Company's employees and employees of any company or group in which the Company holds, directly or indirectly, 10% of the share capital or voting rights as of the date of the grant. The Stock Option Plan provides for the grant of stock options to the Company's employees and directors. The Company no longer grants employee warrants (BSPCE) as the Company no longer meets the eligibility criteria for granting BSPCEs. In June 2021, the Company's shareholders delegated authority to the Company's board of directors to grant stock options and RSUs to employees, and warrants (BSA) to the company's directors and consultants, superseding and replacing the previous delegations of authority to grant equity awards. As of June 30, 2021, there were 2,300,000 ordinary shares available for future grants of stock options, RSUs and warrants (BSA) under the Company’s share pool reserve. Stock options and warrants Most of our stock options and employee warrants (BSPCE) vest 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 and generally individuals must continue to provide services to the Company in order to vest. 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 stock options. In general, warrants (BSA) vest quarterly over a one year period. 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 board, such warrants need to be subscribed for a price at least equal to 5% of the volume weighted average price of the last five trading sessions on the Nasdaq Global Market preceding the date of allocation of the BSA by the board of directors. Otherwise, warrants (BSA) function in the same manner as stock options. The following table summarizes the activity and related weighted-average exercise prices (“WAEP”) and weighted-average remaining contractual term (“WACT”) of the Company’s stock options and warrants for the six months ended June 30, 2021 (in thousands, except exercise price per option): Stock options outstanding BSPCE warrants outstanding BSA warrants outstanding WAEP per share WACT (in years) Aggregate intrinsic value Balance as of December 31, 2020 1,726 108 235 $ 23.97 6.1 $ 31,789 Granted 4 — 1 49.05 Exercised (254) (39) — 16.68 Forfeited (61) — (4) 32.86 Balance as of June 30, 2021 1,415 69 232 $ 24.04 5.7 $ 71,621 Vested and expected to vest as of June 30, 2021 1,313 69 232 $ 23.35 5.5 $ 68,447 Exercisable as of June 30, 2021 854 69 225 $ 18.69 4.1 $ 53,981 The total intrinsic values of stock options and warrants exercised during the period ended June 30, 2021 was $11.7 million. Restricted Stock Units (RSUs) RSUs vest upon either performance-based or service-based criteria. Performance-based RSUs are typically granted such that they vest upon the achievement of certain software subscription sales targets, during a specified performance period, subject to the satisfaction of certain time-based service criteria. 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. In general, service-based RSUs vest over a four years period, with 25% vesting on the one year anniversary of the grant and equal quarterly installments thereafter. A summary of RSU activity under all of the plans as of June 30, 2021 is presented in the following table (in thousands, except the weighted-average grant date fair value per RSU): Number of service- based RSUs Number of performance- based RSUs Weighted-average grant date fair value Balance as of December 31, 2020 2,388 480 $ 43.26 Granted 444 — 60.22 Vested and released (424) (63) 47.25 Forfeited (126) (128) 41.70 Balance as of June 30, 2021 2,282 289 $ 44.05 Expected to vest as of June 30, 2021 1,894 241 $ 43.75 Employee Stock Purchase Plan In the fourth quarter of 2017, the Company established the 2017 Employee Stock Purchase Plan (the “ESPP”), which was amended and restated in August 2020. In June 2020, the Company's shareholders authorized 550,000 shares for future issuance under the ESPP, which superseded and replaced the shares previously available for issuance under ESPP. The ESPP allows the Company’s employees to purchase ADSs, with each ADS representing one ordinary share of the Company, at a discount through payroll deductions 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 is 85% of the lower of the fair value of the Company’s ADSs on the first trading day or on the last trading day of the offering period. The MoU provides that no new offering periods under the ESPP will commence after March 10, 2021, and the ESPP offering period of February 2021 to August 2021 shall be shortened to end no later than five Compensation expense Cost of revenue and operating expenses include employee share-based compensation expense as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Cost of revenue - subscriptions $ 1,010 $ 1,031 $ 1,999 $ 1,279 Cost of revenue - professional services 488 409 958 815 Sales and marketing 3,522 3,737 7,550 6,191 Research and development 1,940 2,715 4,542 5,672 General and administrative 3,567 3,332 7,110 7,596 Total share-based compensation expense $ 10,527 $ 11,224 $ 22,159 $ 21,553 As of June 30, 2021, the Company had $49.9 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 1.7 years.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies 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 counterclaims, 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 results of operations. The Company accrues estimates for resolution of legal proceedings when losses are probable and estimable. Although the results of legal proceedings and claims are unpredictable, the Company believes that there is less than a reasonable possibility that the Company will incur a material loss with respect to such legal proceedings and claims. As a result, the Company has not recorded an accrual for such contingencies as of June 30, 2021.

Income Tax

Income Tax	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Tax	Income Tax 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 after discrete items was 1.3% and (0.2)% for the three months ended June 30, 2021 and 2020, respectively, and 0.4% and (0.2)% for the six months ended June 30, 2021 and 2020, respectively. The 2021 and 2020 annual effective tax rates differed from the French statutory income tax rate of 28% for 2021 and 2020, primarily due to a valuation allowance on current year losses in the US and France. The Company files income tax returns in France as well as many foreign jurisdictions. The tax years 2005 to 2020 remain open to examination by the various jurisdictions in which the Company is subject to tax. Fiscal years outside the normal statutes 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.

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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 consolidated balance sheets as of June 30, 2021 and December 31, 2020, the consolidated statements of operations, the consolidated statements of comprehensive loss and the consolidated statements of stockholders’(deficit) equity for the three and six months ended June 30, 2021 and June 30, 2020, and the consolidated statements of cash flows for the six months ended June 30, 2021 and June 30, 2020. 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. All intercompany accounts and transactions have been eliminated in consolidation.
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 and the determination of the stand-alone selling price), the amortization period for deferred commissions, contract period of leases, 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, recently adopted accounting standards and accounting standards issued not yet adopted	Summary of significant accounting policies Except for the accounting policies described below, there have been no changes to the Company’s significant accounting polices disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 1, 2021, that have had a material impact on the Company’s condensed consolidated financial statements and related notes. Recently adopted accounting standards In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This standard simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in Topic 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new guidance also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill and allocating consolidated income taxes to separate financial statements of entities not subject to income tax. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, including interim periods therein, with early adoption permitted. Upon adoption, the Company must apply certain aspects of this standard retrospectively for all periods presented while other aspects are applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company adopted ASU 2019-12 effective January 1, 2021 and the adoption did not have a material impact on our consolidated financial statements. Accounting standards issued not yet adopted In August 2020, the FASB issued ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. ASU 2020-06 simplifies the accounting for convertible instruments by removing the separation models in Subtopic 470-20 that required embedded conversion features to be separated from the host contract for convertible instruments with conversion features that are not required to be accounted for as derivatives under Topic 815, Derivatives and Hedging, or that do not result in substantial premiums accounted for as paid-in capital. Consequently, a convertible debt instrument will be accounted for as a single liability measured at its amortized cost and a convertible preferred stock will be accounted for as a single equity instrument measured at its historical cost, as long as no other features require bifurcation and recognition as derivatives. The new standard also requires entities to use the if-converted method for all convertible instruments in the diluted earnings per share calculation and include the effect of share settlement for instruments that may be settled in cash or shares, except for certain liability-classified share-based payment awards. ASU 2020-06 is effective for the Company beginning January 1, 2022, although early adoption is permitted for fiscal periods beginning January 1, 2021. The new standard can be adopted using either a modified or full retrospective transition method. The Company is currently evaluating the impact of ASU 2020-06 on its consolidated financial statements.
Fair Value Measurements	Fair Value Measurements The Company reports assets and liabilities recorded at fair value on the Company’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 judgment 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 balance sheet, but which require disclosure of their fair values include: cash and cash equivalents, accounts receivable and certain other receivables, deposits, accounts payable and certain other payables and the 2024 Notes. The fair values of these financial instruments, other than the 2024 Notes, are deemed to approximate their carrying amount.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Disclosure of revenues by region	The following table sets forth the Company’s total revenue by region for the periods indicated (in thousands). The revenues by geographic region were determined based on the country where the sale took place. Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Americas $ 36,722 $ 31,373 $ 72,522 $ 62,540 EMEA 36,243 28,852 71,896 58,738 Asia Pacific 7,936 7,513 16,401 14,579 Total revenue $ 80,901 $ 67,738 $ 160,819 $ 135,857

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
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 June 30, Six Months Ended June 30, 2021 2020 2021 2020 Numerator (basic and diluted): Net loss $ (22,108) $ (21,509) (45,334) (39,651) Denominator (basic and diluted): Weighted-average ordinary shares outstanding 32,677 31,428 32,449 31,308 Basic and diluted net loss per share $ (0.68) $ (0.68) (1.40) (1.27)

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2021
Balance Sheet Related Disclosures [Abstract]
Schedule of accrued expenses and other liabilities	Accrued expenses and other liabilities consisted of the following (in thousands): June 30, 2021 December 31, 2020 Accrued compensation and benefits $ 28,730 $ 30,371 VAT payable 4,678 7,889 Other taxes 254 885 Contingent liabilities 412 703 Other current liabilities 9,174 6,872 Accrued expenses and other liabilities $ 43,248 $ 46,720
Schedule of property and equipment	Property and equipment, net consisted of the following (in thousands): June 30, 2021 December 31, 2020 Computer equipment and software $ 13,203 $ 12,905 Fixtures and fittings 3,635 3,496 Leasehold improvements 4,677 4,918 Property and equipment, gross 21,515 21,319 Less: accumulated depreciation (12,627) (12,046) Property and equipment, net $ 8,888 $ 9,273
Schedule of intangible assets	Intangible assets as of June 30, 2021 and December 31, 2020 included the following (in thousands): June 30, 2021 December 31, 2020 Gross Accumulated Net Gross Accumulated Net Weighted Customer relationships $ 5,076 $ (5,076) $ — $ 5,134 $ (5,134) $ 0 0 years Acquired developed technology 20,044 (12,762) 7,282 20,329 (11,093) 9,236 2 years Total $ 25,120 $ (17,838) $ 7,282 $ 25,463 $ (16,227) $ 9,236
Schedule of estimated future amortization expense related to intangible assets	The following table presents the estimated future amortization expense related to intangible assets as of June 30, 2021 (in thousands): Amount Remainder of 2021 $ 1,865 2022 3,517 2023 1,900 2024 — Thereafter — Total amortization expense $ 7,282

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of carrying amount of notes and equity components of debt	The net carrying amount of the 2024 Notes was as follows as of June 30, 2021 and December 31, 2020 (in thousands): June 30, 2021 December 31, 2020 Principal $ 166,107 $ 171,599 Unamortized debt discount (15,849) (18,704) Unamortized debt issuance costs (4,023) (4,766) Net carrying amount $ 146,235 $ 148,129 The net carrying amount of the equity component of the 2024 Notes was as follows as of June 30, 2021 and December 31, 2020 (in thousands): June 30, 2021 December 31, 2020 Gross amount $ 21,866 $ 21,866 Allocated debt issuance costs (945) (945) Net carrying amount $ 20,921 $ 20,921
Schedule of interest expense related to 2024 Notes	Interest expense related to the 2024 Notes was as follows during the three and six months ended June 30, 2021 and 2020 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Contractual interest expense $ 737 $ 674 $ 1,474 $ 1,352 Amortization of debt discount 1,157 1,008 2,287 2,006 Amortization of issuance costs 301 267 600 535 Total $ 2,195 $ 1,949 $ 4,361 $ 3,893

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of number of options and warrants outstanding and weighted-average exercise prices ("WAEP") of share options and warrants	The following table summarizes the activity and related weighted-average exercise prices (“WAEP”) and weighted-average remaining contractual term (“WACT”) of the Company’s stock options and warrants for the six months ended June 30, 2021 (in thousands, except exercise price per option): Stock options outstanding BSPCE warrants outstanding BSA warrants outstanding WAEP per share WACT (in years) Aggregate intrinsic value Balance as of December 31, 2020 1,726 108 235 $ 23.97 6.1 $ 31,789 Granted 4 — 1 49.05 Exercised (254) (39) — 16.68 Forfeited (61) — (4) 32.86 Balance as of June 30, 2021 1,415 69 232 $ 24.04 5.7 $ 71,621 Vested and expected to vest as of June 30, 2021 1,313 69 232 $ 23.35 5.5 $ 68,447 Exercisable as of June 30, 2021 854 69 225 $ 18.69 4.1 $ 53,981
Schedule of summary of RSUs activity under all of the plans	A summary of RSU activity under all of the plans as of June 30, 2021 is presented in the following table (in thousands, except the weighted-average grant date fair value per RSU): Number of service- based RSUs Number of performance- based RSUs Weighted-average grant date fair value Balance as of December 31, 2020 2,388 480 $ 43.26 Granted 444 — 60.22 Vested and released (424) (63) 47.25 Forfeited (126) (128) 41.70 Balance as of June 30, 2021 2,282 289 $ 44.05 Expected to vest as of June 30, 2021 1,894 241 $ 43.75
Schedule of compensation costs and operating expenses	Cost of revenue and operating expenses include employee share-based compensation expense as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Cost of revenue - subscriptions $ 1,010 $ 1,031 $ 1,999 $ 1,279 Cost of revenue - professional services 488 409 958 815 Sales and marketing 3,522 3,737 7,550 6,191 Research and development 1,940 2,715 4,542 5,672 General and administrative 3,567 3,332 7,110 7,596 Total share-based compensation expense $ 10,527 $ 11,224 $ 22,159 $ 21,553

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Details) - Thoma Bravo - Talend S.A. - Forecast $ / shares in Units, $ in Millions	3 Months Ended
	Dec. 31, 2021USD ($)$ / shares
Debt Instrument [Line Items]
Acquisition share price (in dollars per share) | $ / shares	$ 66
Acquisitions price	$ 2,400
Percent of shares beneficially owned	80.00%
Termination fee	$ 48

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Revenues by geographic region
Deferred revenue	$ 163,900,000		$ 163,900,000		$ 172,800,000
Revenue recognized from contract with customer	62,100,000	$ 50,600,000	110,600,000	$ 93,800,000
Remaining performance obligations	247,700,000		247,700,000
Unbilled revenue	2,500,000		2,500,000		2,800,000
Deferred commissions	41,700,000		41,700,000		$ 39,700,000
Amortization of deferred commissions	3,600,000	2,900,000	7,068,000	5,735,000
Impairment of assets related to deferred commissions			0
Total revenue	80,901,000	67,738,000	160,819,000	135,857,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenues by geographic region
Remaining performance obligations	$ 179,300,000		$ 179,300,000
Remaining performance obligations period	12 months		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenues by geographic region
Remaining performance obligations	$ 68,400,000		$ 68,400,000
Remaining performance obligations period
France
Revenues by geographic region
Total revenue	$ 14,800,000	$ 10,300,000	$ 29,200,000	$ 21,200,000

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues by geographic region
Total revenue	$ 80,901	$ 67,738	$ 160,819	$ 135,857
Americas
Revenues by geographic region
Total revenue	36,722	31,373	72,522	62,540
EMEA
Revenues by geographic region
Total revenue	36,243	28,852	71,896	58,738
Asia Pacific
Revenues by geographic region
Total revenue	$ 7,936	$ 7,513	$ 16,401	$ 14,579

Net Loss Per Share (Details)

Net Loss Per Share (Details) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 30, 2021USD ($)$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares	Dec. 31, 2019€ / shares	Sep. 30, 2019€ / shares
Numerator (basic and diluted):
Net loss | $	$ (22,108)	$ (21,509)	$ (45,334)	$ (39,651)
Denominator (basic and diluted):
Weighted-average shares outstanding used to compute net loss per share attributable to ordinary shareholders, diluted (in shares) | shares	32,677	31,428	32,449	31,308
Weighted-average shares outstanding used to compute net loss per share attributable to ordinary shareholders, basic (in shares) | shares	32,677	31,428	32,449	31,308
Net loss per share attributable to ordinary shareholders, diluted (in dollars per share) | $ / shares	$ (0.68)	$ (0.68)	$ (1.40)	$ (1.27)
Net loss per share attributable to ordinary shareholders, basic (in dollars per share) | $ / shares	$ (0.68)	$ (0.68)	$ (1.40)	$ (1.27)
Convertible Senior Notes due in 2024
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Interest rate on debt					1.75%	1.75%
Initial conversion price (in euros per share) | € / shares					€ 51.75	€ 51.75

Fair Value Measurements (Detail

Fair Value Measurements (Details) $ in Millions	Jun. 30, 2021USD ($)
Convertible Senior Notes due in 2024
Fair value measurement
Fair value of debt	$ 150.2

Balance Sheet Components - Accr

Balance Sheet Components - Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Accrued compensation and benefits	$ 28,730	$ 30,371
VAT payable	4,678	7,889
Other taxes	254	885
Contingent liabilities	412	703
Other current liabilities	9,174	6,872
Accrued expenses and other liabilities	$ 43,248	$ 46,720

Balance Sheet Components - Prop

Balance Sheet Components - Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Property and equipment
Property and equipment, gross	$ 21,515		$ 21,515		$ 21,319
Less: accumulated depreciation	(12,627)		(12,627)		(12,046)
Property and equipment, net	8,888		8,888		9,273
Depreciation	900	$ 800	1,800	$ 1,600
Computer equipment and software
Property and equipment
Property and equipment, gross	13,203		13,203		12,905
Fixtures and fittings
Property and equipment
Property and equipment, gross	3,635		3,635		3,496
Leasehold improvements
Property and equipment
Property and equipment, gross	$ 4,677		$ 4,677		$ 4,918

Balance Sheet Components - Inta

Balance Sheet Components - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 25,120		$ 25,120		$ 25,463
Accumulated Amortization	(17,838)		(17,838)		(16,227)
Net	7,282		7,282		9,236
Amortization expense for intangible assets	900	$ 1,300	1,875	$ 2,639
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,076		5,076		5,134
Accumulated Amortization	(5,076)		(5,076)		(5,134)
Net	0		$ 0		0
Weighted Average Remaining Useful Life			0 years
Acquired developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	20,044		$ 20,044		20,329
Accumulated Amortization	(12,762)		(12,762)		(11,093)
Net	$ 7,282		$ 7,282		$ 9,236
Weighted Average Remaining Useful Life			2 years

Balance Sheet Components - Esti

Balance Sheet Components - Estimated Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Estimated future amortization expense related to intangible assets
Remainder of 2021	$ 1,865
2022	3,517
2023	1,900
2024	0
Thereafter	0
Net	$ 7,282	$ 9,236

Debt (Details)

Debt (Details) - Convertible Senior Notes due in 2024 € / shares in Units, $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended		6 Months Ended
	Sep. 30, 2019EUR (€)€ / shares	Sep. 30, 2019EUR (€)€ / shares$ / shares	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019€ / shares
Debt Instrument [Line Items]
Aggregate principal amount of notes issued | €	€ 125,000,000	€ 125,000,000
Additional debt issued | €	14,800,000
Debt issuance costs | €	6,000,000
Net proceed received | €	€ 133,800,000
Interest rate on debt	1.75%	1.75%						1.75%
Conversion ratio	0.0193234
Initial conversion price (in euros per share) | € / shares	€ 51.75	€ 51.75						€ 51.75
Closing price (in dollars per share) | $ / shares		€ 38.72
Exchange rate	1.1036	1.1036
Price percentage of principal	100.00%
Principal			$ 166,107		$ 166,107		$ 171,599
Unamortized debt discount			(15,849)		(15,849)		(18,704)
Unamortized debt issuance costs			(4,023)		(4,023)		(4,766)
Net carrying amount			146,235		146,235		148,129
Gross amount			21,866		21,866		21,866
Allocated debt issuance costs			(945)		(945)		(945)
Net carrying amount			20,921		20,921		$ 20,921
Contractual interest expense			737	$ 674	1,474	$ 1,352
Amortization of debt discount			1,157	1,008	2,287	2,006
Amortization of issuance costs			301	267	600	535
Total			$ 2,195	$ 1,949	$ 4,361	$ 3,893

Equity Incentive Plans - Contra

Equity Incentive Plans - Contractual Life and Authorized shares (Details)	1 Months Ended	6 Months Ended
	Aug. 31, 2020	Jun. 30, 2021tradingSessionshares
Equity Incentive Plans
Number of ordinary shares available for future issuance (in shares) | shares		2,300,000
One year anniversary of grant
Equity Incentive Plans
Vesting period		1 year
Vesting percentage		25.00%
Stock options
Equity Incentive Plans
Contractual life		10 years
BSA warrants
Equity Incentive Plans
Vesting period		1 year
Percentage of volume weighted average price		5.00%
Number of trading sessions | tradingSession		5
Free Share Plan | RSUs
Equity Incentive Plans
Percent of the share capital or voting rights	10.00%

Equity Incentive Plans - Stock

Equity Incentive Plans - Stock Options and Warrants (Details) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares
WAEP per share
Balance at beginning of period (in dollars per share) | $ / shares	$ 23.97
Granted (in dollars per share) | $ / shares	49.05
Exercised (in dollars per share) | $ / shares	16.68
Forfeited (in dollars per share) | $ / shares	32.86
Balance at end of period (in dollars per share) | $ / shares	24.04	$ 23.97
Vested and expected to vest at end of period (in dollars per share) | $ / shares	23.35
Exercisable at end of period (in dollars per share) | $ / shares	$ 18.69
WACT and Aggregate intrinsic value
Outstanding WACT (in years)	5 years 8 months 12 days	6 years 1 month 6 days
Vested and expected to vest at end of period (in years)	5 years 6 months
Exercisable at end of period (in years)	4 years 1 month 6 days
Outstanding Aggregate intrinsic value | $	$ 71,621	$ 31,789
Vested and expected to vest aggregate intrinsic value | $	68,447
Exercisable aggregate intrinsic value | $	53,981
Total intrinsic value of stock options exercised | $	$ 11,700
Stock options outstanding
Stock Options
Number of stock options outstanding at beginning of period (in shares)	1,726
Granted (in shares)	4
Exercised (in shares)	(254)
Forfeited (in shares)	(61)
Number of stock options outstanding at end of period (in shares)	1,415	1,726
Vested and expected to vest at end of period (in shares)	1,313
Exercisable at end of period (in shares)	854
BSPCE warrants outstanding
Warrants
Unvested balance at beginning of period (in shares)	108
Granted (in shares)	0
Exercised (in shares)	(39)
Forfeited (in shares)	0
Unvested balance at end of period (in shares)	69	108
Vested and expected to vest at end of period (in shares)	69
Exercisable at end of period (in shares)	69
BSA warrants outstanding
Warrants
Unvested balance at beginning of period (in shares)	235
Granted (in shares)	1
Exercised (in shares)	0
Forfeited (in shares)	(4)
Unvested balance at end of period (in shares)	232	235
Vested and expected to vest at end of period (in shares)	232
Exercisable at end of period (in shares)	225

Equity Incentive Plans - Restri

Equity Incentive Plans - Restricted Stock Units (RSU) (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2021$ / sharesshares
One year anniversary of grant
Equity Incentive Plans
Vesting period	1 year
Vesting percentage	25.00%
Service-based RSUs
Equity Incentive Plans
Vesting period	4 years
Number of service- based RSUs
Unvested balance at beginning of period (in shares)	2,388
Granted (in shares)	444
Vested and released (in shares)	(424)
Forfeited (in shares)	(126)
Unvested balance at end of period (in shares)	2,282
Expected to vest at end of period (in shares)	1,894
Service-based RSUs | One year anniversary of grant
Equity Incentive Plans
Vesting period	1 year
Service-based RSUs | Second anniversary of grant
Equity Incentive Plans
Vesting period	1 year
Service-based RSUs | Third anniversary of grant
Equity Incentive Plans
Vesting period	1 year
Service-based RSUs | Fourth anniversary of grant
Equity Incentive Plans
Vesting period	1 year
Performance-based RSUs
Number of service- based RSUs
Unvested balance at beginning of period (in shares)	480
Granted (in shares)	0
Vested and released (in shares)	(63)
Forfeited (in shares)	(128)
Unvested balance at end of period (in shares)	289
Expected to vest at end of period (in shares)	241
Weighted-average grant date fair value
Unvested balance at beginning of period (in dollars per share) | $ / shares	$ 43.26
Granted (in dollars per share) | $ / shares	60.22
Vested and released (in dollars per share) | $ / shares	47.25
Forfeited (in dollars per share) | $ / shares	41.70
Unvested balance at end of period (in dollars per share) | $ / shares	44.05
Expected to vest at end of period (in dollars per share) | $ / shares	$ 43.75

Equity Incentive Plans - Employ

Equity Incentive Plans - Employee Stock Purchase Plan (Details)	6 Months Ended	7 Months Ended
	Jun. 30, 2021tradingSessionshares	Aug. 31, 2021	Jun. 30, 2020shares
Equity Incentive Plans
Number of ordinary shares available for future issuance (in shares) | shares	2,300,000
Employee Stock Purchase Plan
Equity Incentive Plans
Number of ordinary shares available for future issuance (in shares) | shares			550,000
Employee Stock Purchase Plan | American Depositary Shares
Equity Incentive Plans
Number of ordinary shares | tradingSession	1
Payroll deduction percentage	15.00%
Number of consecutive offering periods | tradingSession	2
Offering period	6 months
Fair value of ADSs to calculate purchase price	85.00%
Employee Stock Purchase Plan | American Depositary Shares | Subsequent Event
Equity Incentive Plans
Offering period		5 days

Equity Incentive Plans - Compen

Equity Incentive Plans - Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Equity Incentive Plans
Total share-based compensation expense	$ 10,527	$ 11,224	$ 22,159	$ 21,553
Unrecognized compensation expenses	49,900		$ 49,900
Period of recognition for unrecognized compensation expense			1 year 8 months 12 days
Cost of revenue | Subscriptions
Equity Incentive Plans
Total share-based compensation expense	1,010	1,031	$ 1,999	1,279
Cost of revenue | Professional services
Equity Incentive Plans
Total share-based compensation expense	488	409	958	815
Sales and marketing
Equity Incentive Plans
Total share-based compensation expense	3,522	3,737	7,550	6,191
Research and development
Equity Incentive Plans
Total share-based compensation expense	1,940	2,715	4,542	5,672
General and administrative
Equity Incentive Plans
Total share-based compensation expense	$ 3,567	$ 3,332	$ 7,110	$ 7,596

Income Tax (Details)

Income Tax (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Annual effective tax rate	1.30%	(0.20%)	0.40%	(0.20%)