Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2018 | Feb. 22, 2019 | Jun. 29, 2018 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | AYX | ||
Entity Registrant Name | Alteryx, Inc. | ||
Entity Central Index Key | 1,689,923 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 1.2 | ||
Class A Common Stock | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 38,298,966 | ||
Class B Common Stock | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 23,485,253 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Statement [Abstract] | |||
Revenue | $ 253,570 | $ 131,607 | $ 85,790 |
Cost of revenue | 22,800 | 21,803 | 16,026 |
Gross profit | 230,770 | 109,804 | 69,764 |
Operating expenses: | |||
Research and development | 43,449 | 29,342 | 17,481 |
Sales and marketing | 109,284 | 66,420 | 57,585 |
General and administrative | 48,267 | 32,241 | 17,720 |
Total operating expenses | 201,000 | 128,003 | 92,786 |
Income (loss) from operations | 29,770 | (18,199) | (23,022) |
Interest expense | (7,378) | 0 | 0 |
Other income (expense), net | 3,042 | (205) | (1,028) |
Income (loss) before provision for (benefit of) income taxes | 25,434 | (18,404) | (24,050) |
Provision for (benefit of) income taxes | (2,586) | (905) | 208 |
Net income (loss) | 28,020 | (17,499) | (24,258) |
Less: Accretion of Series A redeemable convertible preferred stock | 0 | (1,983) | (6,442) |
Net income (loss) attributable to common stockholders | $ 28,020 | $ (19,482) | $ (30,700) |
Net Income (loss) per share attributable to common stockholders, basic (in dollars per share) | $ 0.46 | $ (0.37) | $ (0.95) |
Net income (loss) per share attributable to common stockholders, diluted (in dollars per share) | $ 0.43 | $ (0.37) | $ (0.95) |
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic (in shares) | 60,829 | 53,006 | 32,440 |
Weighted-average shares used to compute net loss per share attributable to common stockholders, diluted (in shares) | 64,744 | 53,006 | 32,440 |
Other comprehensive income (loss), net of tax: | |||
Net unrealized holding gain (loss) on investments, net of tax | $ (22) | $ (217) | $ 72 |
Foreign currency translation adjustments, net of tax | (195) | (128) | 0 |
Other comprehensive income (loss), net of tax | (217) | (345) | 72 |
Total comprehensive income (loss) | $ 27,803 | $ (17,844) | $ (24,186) |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 89,974 | $ 119,716 |
Short-term investments | 239,718 | 54,386 |
Accounts receivable, net of allowance for doubtful accounts and sales reserves of $2,297 and $1,714 as of December 31, 2018 and December 31, 2017, respectively | 94,922 | 49,797 |
Deferred commissions | 10,353 | 11,213 |
Prepaid expenses and other current assets | 26,846 | 7,227 |
Total current assets | 461,813 | 242,339 |
Property and equipment, net | 11,729 | 7,492 |
Long-term investments | 96,551 | 19,964 |
Goodwill | 9,494 | 8,750 |
Intangible assets, net | 7,491 | 7,995 |
Long-term deferred commissions | 12,038 | 0 |
Long-term deferred commissions | 22,391 | 11,213 |
Other assets | 18,982 | 4,263 |
Deferred incomes taxes, net | 69 | 613 |
Total assets | 618,167 | 291,416 |
Current liabilities: | ||
Accounts payable | 5,028 | 522 |
Accrued payroll and payroll related liabilities | 24,659 | 11,835 |
Accrued expenses and other current liabilities | 10,878 | 8,270 |
Deferred revenue | 84,015 | 110,213 |
Total current liabilities | 124,580 | 130,840 |
Convertible senior notes, net | 173,647 | 0 |
Deferred revenue | 2,130 | 3,545 |
Other liabilities | 4,345 | 3,313 |
Deferred income tax, net | 11,647 | 214 |
Total liabilities | 316,349 | 137,912 |
Commitments and contingencies (Note 14) | ||
Stockholders’ equity: | ||
Preferred stock, $0.0001 par value: 10,000 shares authorized as of December 31, 2018 and December 31, 2017, respectively; no shares issued and outstanding as of December 31, 2018 and December 31, 2017, respectively | 0 | 0 |
Common stock, $0.0001 par value: 500,000 Class A shares authorized, 37,832 and 26,687 shares issued and outstanding, as of December 31, 2018 and December 31, 2017, respectively; 500,000 Class B shares authorized, 23,748 and 32,948 shares issued and outstanding as of December 31, 2018 and December 31, 2017, respectively | 6 | 5 |
Additional paid-in capital | 315,291 | 257,399 |
Accumulated deficit | (12,908) | (103,546) |
Accumulated other comprehensive loss | (571) | (354) |
Total stockholders’ equity | 301,818 | 153,504 |
Total liabilities and stockholders’ equity | $ 618,167 | $ 291,416 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Allowance for doubtful accounts and sales reserves | $ 2,297 | $ 1,714 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Class A Common Stock | ||
Common stock par value per share (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock shares authorized (in shares) | 500,000,000 | 500,000,000 |
Common Stock shares issued (in shares) | 37,832,000 | 26,687,000 |
Common stock shares outstanding (in shares) | 37,832,000 | 26,687,000 |
Class B Common Stock | ||
Common stock par value per share (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock shares authorized (in shares) | 500,000,000 | 500,000,000 |
Common Stock shares issued (in shares) | 23,748,000 | 32,948,000 |
Common stock shares outstanding (in shares) | 23,748,000 | 32,948,000 |
Consolidated Statements of Rede
Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Notes Receivable From Stockholders | Accumulated Deficit | Accumulated Other Comprehensive Income (Loss) | Redeemable Convertible Preferred Stock |
Beginning balance (in shares) at Dec. 31, 2015 | 14,647,000 | ||||||
Beginning balance at Dec. 31, 2015 | $ 92,740 | ||||||
Increase (Decrease) in Temporary Equity [Roll Forward] | |||||||
Accretion of Series A redeemable convertible preferred stock issuance costs and redemption feature | 6,442 | ||||||
Ending balance at Dec. 31, 2016 | $ 99,182 | ||||||
Ending balance (in shares) at Dec. 31, 2016 | 14,647,000 | ||||||
Beginning balance (in shares) at Dec. 31, 2015 | 32,258,000 | ||||||
Beginning Balance at Dec. 31, 2015 | $ (52,911) | $ 3 | $ 11,193 | $ (2,237) | $ (61,789) | $ (81) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Issuance of common stock (in shares) | 2,000 | ||||||
Issuance of common stock | 21 | 21 | |||||
Repurchase of common stock (in shares) | (17,000) | ||||||
Repurchase of common stock | (6) | (6) | |||||
Accretion of Series A redeemable convertible preferred stock issuance costs and redemption feature | (6,442) | (6,442) | |||||
Exercise of stock options (in shares) | 431,000 | ||||||
Exercise of stock options | 413 | 413 | |||||
Stock-based compensation | 3,263 | 3,263 | |||||
Repayment of stockholder note | 2,237 | 2,237 | |||||
Excess tax benefit from stock-based compensation | 1 | 1 | |||||
Cumulative translation adjustment | 0 | ||||||
Unrealized loss on investments | 72 | 72 | |||||
Net income (loss) | (24,258) | (24,258) | |||||
Ending balance (in shares) at Dec. 31, 2016 | 32,674,000 | ||||||
Ending Balance at Dec. 31, 2016 | (77,610) | $ 3 | 8,443 | 0 | (86,047) | (9) | |
Increase (Decrease) in Temporary Equity [Roll Forward] | |||||||
Accretion of Series A redeemable convertible preferred stock issuance costs and redemption feature | $ 1,983 | ||||||
Conversion redeemable convertible preferred stock to common stock (in shares) | (14,647,000) | ||||||
Conversion redeemable convertible preferred stock to common stock | $ (101,165) | ||||||
Ending balance at Dec. 31, 2017 | $ 0 | ||||||
Ending balance (in shares) at Dec. 31, 2017 | 0 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Issuance of common stock (in shares) | 10,350,000 | ||||||
Issuance of common stock | 131,413 | $ 1 | 131,412 | ||||
Accretion of Series A redeemable convertible preferred stock issuance costs and redemption feature | (1,983) | (1,983) | |||||
Conversion redeemable convertible preferred stock to common stock (in shares) | 14,647,000 | ||||||
Conversion redeemable convertible preferred stock to common stock | 101,165 | $ 1 | 101,164 | ||||
Shares issued pursuant to stock awards, net of shares withheld (in shares) | 1,687,000 | ||||||
Shares issued pursuant to stock awards, net of shares withheld | 3,655 | 3,655 | |||||
Equity issued in business combination (in shares) | 265,000 | ||||||
Equity issued in business combination | 5,285 | 5,285 | |||||
Stock-based compensation | $ 8,886 | 8,886 | |||||
Equity settled contingent consideration (in shares) | 12,492 | 12,000 | |||||
Equity settled contingent consideration | $ 375 | 375 | |||||
Excess tax benefit from stock-based compensation | 162 | 162 | |||||
Cumulative translation adjustment | (128) | (128) | |||||
Unrealized loss on investments | (217) | (217) | |||||
Net income (loss) | (17,499) | (17,499) | |||||
Ending balance (in shares) at Dec. 31, 2017 | 59,635,000 | ||||||
Ending Balance at Dec. 31, 2017 | $ 153,504 | $ 5 | 257,399 | 0 | (103,546) | (354) | |
Ending balance at Dec. 31, 2018 | $ 0 | ||||||
Ending balance (in shares) at Dec. 31, 2018 | 0 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Exercise of stock options (in shares) | 1,632,000 | ||||||
Shares issued pursuant to stock awards (in shares) | 1,925,000 | ||||||
Shares issued pursuant to stock awards | $ 11,425 | $ 1 | 11,424 | ||||
Stock-based compensation | $ 16,647 | 16,647 | |||||
Equity settled contingent consideration (in shares) | 18,869 | 19,000 | |||||
Equity settled contingent consideration | $ 656 | 656 | |||||
Cumulative translation adjustment | (195) | (195) | |||||
Unrealized loss on investments | (22) | (22) | |||||
Equity component of convertible senior notes, net of issuance costs and income tax | 43,569 | 43,569 | |||||
Purchase of capped calls, net of taxes | (14,545) | (14,545) | |||||
Net income (loss) | 28,020 | 28,020 | |||||
Ending balance (in shares) at Dec. 31, 2018 | 61,579,000 | ||||||
Ending Balance at Dec. 31, 2018 | $ 301,818 | $ 6 | $ 315,291 | $ 0 | $ (12,908) | $ (571) |
Consolidated Statements of Re_2
Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Statement of Stockholders' Equity [Abstract] | |
Stock issuance cost | $ 3,344 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash flows from operating activities: | |||
Net income (loss) | $ 28,020 | $ (17,499) | $ (24,258) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
Depreciation and amortization | 3,836 | 3,957 | 1,677 |
Amortization of debt discount and issuance costs | 6,652 | 0 | 0 |
Stock-based compensation | 16,647 | 8,886 | 3,284 |
Provision for doubtful accounts, net of recoveries | 382 | 820 | 432 |
Deferred income taxes | (3,434) | (1,425) | (27) |
Provision for doubtful accounts, net of recoveries | 1,961 | 1,905 | 770 |
Deferred income taxes | (3,473) | (1,310) | (27) |
Impairment of long-lived assets | 0 | 1,050 | 0 |
Change in fair value of contingent consideration | 624 | 190 | 0 |
Loss on disposal of assets | 18 | 175 | 66 |
Changes in operating assets and liabilities, net of effect of business acquisitions | |||
Accounts receivable | (45,640) | (15,325) | (14,248) |
Deferred commissions | (12,741) | (3,663) | (1,582) |
Prepaid expenses and other current assets and other assets | (16,077) | (3,508) | (4,314) |
Accounts payable | 4,530 | (1,483) | 2,134 |
Accrued payroll and payroll related liabilities | 12,898 | 4,047 | 1,177 |
Accrued expenses and other current liabilities | 671 | 2,606 | 1,123 |
Deferred revenue | 29,059 | 39,835 | 27,840 |
Other liabilities | 644 | 442 | 666 |
Net cash provided by (used in) operating activities | 26,089 | 19,105 | (6,030) |
Cash flows from investing activities: | |||
Purchases of property and equipment | (6,728) | (3,669) | (4,307) |
Cash paid in business acquisitions, net of cash acquired | (3,537) | (9,097) | 0 |
Purchases of investments | (445,705) | ||
Purchases of investments | (91,517) | (5,720) | |
Maturities of investments | 185,112 | 37,862 | 20,762 |
Net cash provided by (used in) investing activities | (270,858) | (66,421) | 10,735 |
Cash flows from financing activities: | |||
Proceeds from issuance of senior convertible notes, net of issuance costs | 224,246 | 0 | 0 |
Purchase of capped calls | (19,113) | 0 | 0 |
Proceeds from initial public offering, net of underwriting commissions and discounts | 0 | 134,757 | 0 |
Payments associated with issuance of Series C convertible preferred stock | 0 | 0 | (350) |
Payment of initial public offering costs | 0 | (2,396) | (948) |
Repurchase of common stock, net of costs paid | 0 | 0 | (256) |
Accrued expenses and other current liabilities | 0 | 0 | 2,237 |
Payment of holdback funds from acquisition | (250) | 0 | 0 |
Principal payments on capital lease obligations | (327) | (328) | (274) |
Proceeds from exercise of stock options | 14,154 | 4,342 | 413 |
Minimum tax withholding paid on behalf of employees for restricted stock units | (2,730) | (674) | 0 |
Net cash provided by financing activities | 215,980 | 135,701 | 822 |
Effect of exchange rate changes on cash and cash equivalents | (166) | 25 | 0 |
Net increase (decrease) in cash and cash equivalents | (28,955) | 88,410 | 5,527 |
Cash, cash equivalents and restricted cash—beginning of year | 119,916 | 31,506 | 25,979 |
Cash, cash equivalents, and restricted cash—end of year | 90,961 | 119,916 | 31,506 |
Supplemental disclosure of cash flow information: | |||
Cash paid for interest | 617 | 0 | 0 |
Cash paid for income taxes | 1,782 | 333 | 12 |
Supplemental disclosure of noncash investing and financing activities: | |||
Property and equipment recorded in accounts payable | 720 | 0 | 38 |
Consideration for business acquisition included in accrued expenses and other current liabilities and other liabilities | 1,200 | 1,660 | 0 |
Consideration for business acquisition from issuance of common stock | 0 | 5,285 | 0 |
Accretion of Series A redeemable convertible preferred stock | 0 | 1,983 | 6,442 |
Deferred initial public offering costs recorded in accounts payable and accrued expenses | 0 | 0 | 452 |
Contingent consideration settled through issuance of common stock | 656 | 375 | 0 |
Contingent consideration settled through issuance of common stock | 0 | 101,165 | 0 |
Property and equipment funded by capital lease borrowing | $ 0 | $ 0 | $ 987 |
Organization and Nature of Oper
Organization and Nature of Operations | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Nature of Operations | Organization and Nature of Operations Alteryx, Inc. was initially organized in California in March 1997 as SRC, LLC, commenced principal operations in November 1997, changed its name to Alteryx, LLC in March 2010, and converted into a Delaware corporation in March 2011 under the name Alteryx, Inc. Alteryx, Inc. and its subsidiaries, or we, our, or us, are headquartered in Irvine, California. We are improving business through data science and analytics by enabling analytic producers, regardless of technical acumen, to quickly and easily transform data into actionable insights and deliver improved data-driven business outcomes. Every day, our users leverage our end-to-end analytic platform to quickly and easily discover, access, prepare, and analyze data from a multitude of sources, then deploy and share analytics at scale. The ease-of-use, speed, and sophistication that our platform provides is enhanced through intuitive and highly repeatable visual workflows. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Significant Accounting Policies Principles of Consolidation and Basis of Presentation Our consolidated financial statements are presented in accordance with accounting standards generally accepted in the United States of America, or U.S. GAAP, and include the accounts of Alteryx, Inc. and its wholly owned subsidiaries after elimination of intercompany transactions and balances. Prior to December 31, 2018, we met the definition of an emerging growth company, or EGC, under the Jumpstart Our Business Startups Act, or the JOBS Act. While we maintained EGC status, we were allowed under the JOBS Act to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements were made applicable to private companies and we elected to use this extended transition period. Effective as of December 31, 2018 we no longer qualified as an EGC and could no longer take advantage of this extended transition period. As a result, we adopted certain accounting pronouncements during the fourth quarter of 2018 which are applicable for our annual reporting period for the year ended December 31, 2018. We adopted the new revenue recognition accounting standard, codified as Accounting Standards Codification, or ASC 606, Revenue from Contracts with Customers , or ASC 606, effective January 1, 2018 on a modified retrospective basis (see Recently Adopted Accounting Pronouncements). Financial results for reporting periods during 2018 are presented in compliance with the new revenue recognition standard. Historical financial results for reporting periods prior to 2018 are presented in conformity with amounts previously disclosed under the prior revenue recognition standard, ASC 605, Revenue Recognition, or ASC 605. These financial statements include additional information regarding the impacts from the adoption of the new revenue recognition standard on our financial results for the year ended December 31, 2018 and also include the presentation of financial results for the year ended December 31, 2018 under ASC 605 for comparison to the prior year. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates and assumptions. On an ongoing basis, our management evaluates estimates and assumptions based on historical data and experience, as well as various other factors that our management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities. Concentration of Risk Financial instruments, which subject us to concentrations of credit risk, consist primarily of cash and cash equivalents, investments, and trade accounts receivable. We maintain our cash and cash equivalents and investments with three major financial institutions and a portion of such balances exceed or are not subject to Federal Deposit Insurance Corporation, or FDIC, insurance limits. We extend differing levels of credit to customers, do not require collateral deposits, and, when necessary, maintain reserves for potential credit losses based upon the expected collectability of accounts receivable. We manage credit risk related to our customers by following credit approval processes, establishing credit limits, performing periodic evaluations of credit worthiness and applying other credit risk monitoring procedures. Accounts receivable include amounts due from customers with principal operations primarily in the United States. As of December 31, 2018 one of our distributors made up 10.1% of our total accounts receivable balance. No other customers accounted for 10% or more of our accounts receivable balance or 10% or more of our revenue in any years presented. Fair Value of Financial Instruments We utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. We determine fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active near the measurement date; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value of our money market funds was determined based on “Level 1” inputs. The fair value of certificates of deposit, U.S. Treasury and agency bonds, and corporate bonds were determined based on “Level 2” inputs. The valuation techniques used to measure the fair value of certificates of deposit included observable market-based inputs for similar assets, which primarily include yield curves and time-to-maturity factors. The valuation techniques used to measure the fair value of U.S. Treasury and agency bonds and corporate bonds included standard observable inputs, including reported trades, quoted market prices, matrix pricing, benchmark yields, broker/dealer quotes, issuer spreads, two-sided markets or benchmark securities and data provided by third parties as many of the bonds are not actively traded. There were no marketable securities measured on a recurring basis in the “Level 3” category. We have not elected the fair value option as prescribed by ASC 825, The Fair Value Option for Financial Assets and Financial Liabilities , for our financial assets and liabilities that are not otherwise required to be carried at fair value. Under ASC 820, Fair Value Measurements and Disclosures, or ASC 820, material financial assets and liabilities not carried at fair value, such as our convertible senior notes and accounts receivable and payable, are reported at their carrying values. Cash and Cash Equivalents and Restricted Cash We consider cash and cash equivalents to include short-term, highly liquid investments that are readily convertible to known amounts of cash and so near their maturity that they present an insignificant risk of changes in the value, including investments that mature within three months from the date of original purchase. Amounts receivable from a credit card processor of approximately $0.4 million and $0.7 million as of December 31, 2018 and 2017 , respectively, are considered cash equivalents because they were both short-term and highly liquid in nature and are typically converted to cash within three days of the sales transaction. We had restricted cash of $1.0 million and $0.2 million as of December 31, 2018 and 2017 , respectively. This balance, presented in other assets on the consolidated balance sheet, relates to amounts required to be restricted as to use by our letter of credit associated with one of our leases and by our credit card processor. Investments in Marketable Securities Our investments consist of available-for-sale marketable securities. The classification of investments is determined at the time of purchase and reevaluated at each balance sheet date. We classify investments as current or non-current based on the nature of the securities as well as their stated maturities. Investments are stated at fair value. The net unrealized gains or losses on available-for-sale securities are recorded as a component of accumulated other comprehensive loss, net of income taxes. At each balance sheet date, we assess available-for-sale securities in an unrealized loss position to determine whether the unrealized loss is other than temporary. We consider factors including the significance of the decline in value as compared to the cost basis, underlying factors contributing to a decline in the prices of securities in a single asset class, how long the market value of the security has been less than its cost basis, the security’s relative performance versus its peers, sector or asset class, expected market volatility, and the market and economy in general, and, if determined to be other than temporary, will record an other than temporary impairment charge. Accounts Receivable, Allowance for Doubtful Accounts, and Sales Reserves Our accounts receivable consist of amounts due from customers and are typically unsecured. Accounts receivable are recorded at the invoiced amount and are non-interest bearing. The allowance for doubtful accounts is estimated and established by assessing individual accounts receivable over a specific age and dollar value, and all other balances are pooled based on historical collection experience. Additions to the allowance are charged to general and administrative expenses. Accounts receivable are written off against the allowance when an account balance is deemed uncollectible. We estimate a sales reserve based upon the historical adjustments made to customer billings. Such reserve is recorded as a reduction of revenue and deferred revenue. Assets Recognized from the Costs to Obtain a Contract with a Customer We record an asset for the incremental costs of obtaining a contract with a customer, including, for example, sales commissions and partner referral fees that are earned upon execution of contracts. We pay commissions for new product sales as well as for renewals of existing contracts, and partner referral fees only for new product sales. For customer contracts in which the commissions paid on new business and renewals are commensurate, we generally amortize these costs over the contractual term of the contract, consistent with the pattern of revenue recognition for each performance obligation. For customer contracts in which the commissions paid on new business and renewals are not commensurate and for partner referral fees, we amortize the costs on new business over an expected period of benefit, which we have determined to be approximately four years. The expected period of benefit was determined by taking into consideration our customer contracts, the duration of our relationships with our customers and the useful life of our technology. In capitalizing and amortizing deferred commissions and partner referral fees, we have elected to apply a portfolio approach. We include amortization of deferred commissions and partner referral fees in sales and marketing expense in our consolidated statements of operations. For the years ended December 31, 2018 , 2017 , and 2016 , we amortized to sales and marketing expense approximately $18.5 million , $11.3 million , and $9.4 million , respectively. See further discussion regarding the adoption of the provisions of ASC 606, including the provisions of subtopic 340-40, under Recently Adopted Accounting Pronouncements below. Royalties We pay royalties associated with licensed third-party syndicated data sold with our platform and we recognize royalty expense to cost of revenue when incurred. For the years ended December 31, 2018 , 2017 , and 2016 , we recognized royalty expense of approximately $7.2 million , $9.4 million , and $6.0 million respectively. Under certain of our contractual arrangements we prepay royalties. Property and Equipment Property and equipment are stated at historical cost, less accumulated depreciation and amortization. Depreciation of property and equipment is calculated using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or lease terms. Useful lives by asset category are as follows: Computer equipment 3 years Furniture and fixtures 3 to 7 years Leasehold improvement Shorter of useful life or lease term Repairs and maintenance costs are charged to expense as incurred. Upon the sale or retirement of property and equipment, the cost and the related accumulated depreciation or amortization are removed from the accounts, with any resulting gain or loss included in our consolidated statements of operations and comprehensive income (loss). Intangible Assets Intangible assets consist primarily of acquired developed technology. We determine the appropriate useful life of our intangible assets by performing an analysis of expected cash flows of the acquired assets. Intangible assets are amortized over their estimated useful lives of two to eight years, using the straight-line method, which approximates the pattern in which the economic benefits are consumed. Impairment of Long-Lived Assets We review our long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of such assets may not be fully recoverable. Recoverability of these assets is determined by comparing the forecasted undiscounted cash flows attributable to such assets to their carrying value. If the carrying value of the assets exceeds the forecasted undiscounted cash flows, then the assets are written down to their fair value. Fair value is determined based on discounted cash flows or appraised values, depending upon the nature of the assets. Business Combinations The results of businesses acquired in a business combination are included in our consolidated financial statements from the date of the acquisition. We allocated the purchase price, including the fair value of any non-cash and contingent consideration, to the identifiable assets and liabilities of the relevant acquired business at their acquisition date fair values. Any excess consideration over the fair value of assets acquired and liabilities assumed is recognized as goodwill. Contingent consideration payable in cash or a fixed dollar amount settleable in a variable number of shares is classified as a liability and recorded at fair value, with changes in fair value recorded in general and administrative expenses each period. Transaction costs associated with business combinations are expensed as incurred, and are included in general and administrative expense in the consolidated statements of operations and comprehensive income (loss). We perform valuations of assets acquired, liabilities assumed, and contingent consideration and allocate the purchase price to its respective assets and liabilities. Determining the fair value of assets acquired, liabilities assumed, and contingent consideration requires us to use significant judgment and estimates including the selection of valuation methodologies, estimates of future revenue, costs and cash flows, discount rates, the probability of the achievement of specified milestones, and selection of comparable companies. We engage the assistance of valuation specialists in concluding on fair value measurements in connection with determining fair values of assets acquired, liabilities assumed, and contingent consideration in a business combination. Goodwill Goodwill represents the excess of the purchase price over the fair value of net assets acquired in a business combination. We test goodwill for impairment in accordance with the provisions of ASC 350, Intangibles – Goodwill and Other, ASC 350. Goodwill is tested for impairment at least annually at the reporting unit level or whenever events or changes in circumstances indicate that goodwill might be impaired. Events or changes in circumstances which could trigger an impairment review include a significant adverse change in legal factors or in the business climate, unanticipated competition, loss of key personnel, significant changes in the use of the acquired assets or our strategy, significant negative industry or economic trends, or significant underperformance relative to expected historical or projected future results of operations. ASC 350 provides that an entity has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, an entity determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then additional impairment testing is not required. However, if an entity concludes otherwise, then it is required to perform an impairment test. The impairment test involves comparing the estimated fair value of a reporting unit with its book value, including goodwill. If the estimated fair value exceeds book value, goodwill is considered not to be impaired. If, however, the fair value of the reporting unit is less than book value, then an impairment loss is recognized in an amount equal to the amount that the book value of the reporting unit exceeds its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. We have one reporting unit and we test for goodwill impairment annually during the fourth quarter of each calendar year. At December 31, 2018 , we determined our goodwill was not impaired as our fair value significantly exceeded the carrying value of our net assets. Revenue Recognition - ASC 606 Our revenue is derived from the licensing of subscription-based software, data subscription services, and professional services, including training and consulting services. The subscription-based license includes access to hosted services and software and post-contract support, or PCS, which provides the customer the right to receive when-and-if-available unspecified future updates, upgrades and enhancements, and technical product support. We implemented the provisions of ASC 606, and all related appropriate guidance, effective as of January 1, 2018 under the modified retrospective method. The core principle of ASC 606 is to recognize revenue upon the transfer of goods or services to our customers in an amount that reflects the consideration to which we expect to be entitled. In order to adhere to this core principle, we apply the following five-step approach: • identify the contract with a customer; • identify the performance obligations in the contract; • determine the transaction price; • allocate the transaction price to the performance obligations in the contract; and • recognize revenue when (or as) we satisfy a performance obligation. We only apply the five-step model to contracts when it is probable that we will collect the consideration we are entitled to in exchange for goods or services we transfer to the customer. Revenue is measured based on consideration specified in a contract with a customer, and excludes any taxes we collect concurrent with revenue-producing activities. Most of our contracts contain a fixed transaction price. Our subscription agreements typically range from one to three years and are billed annually in advance with net payment terms of 60 days or less. The primary purpose of our payment and invoicing terms is to provide customers with predictable ways to purchase our software and services, and not to provide customers with financing. Our contracts with customers typically contain multiple performance obligations. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. All of our licenses are sold as subscription-based, on-premise, licenses and are bundled with maintenance and support, or PCS, and cloud-based offerings. In addition to our on-premise licenses, we sell subscriptions to third-party syndicated data and provide professional service offerings primarily related to trainings for our customers. We allocate the transaction price of the contract to each performance obligation using the relative standalone selling price, or SSP, of each distinct good or service in the contract. We determine estimates of SSP based on sales of goods and services sold on a standalone basis, our overall pricing strategies, market conditions, including the geographic locations in which the products are sold, and market data. We review the SSP for each of our performance obligations at least every financial reporting period and update it when appropriate to ensure that the practices employed reflect our recent pricing experience and maximize the use of observable data. We recognize revenue when we satisfy a performance obligation by transferring control of a good or service to a customer. Revenue related to our subscription-based licenses is recognized at a point in time when the platform is first made available to the customer, or the beginning of the subscription term, if later. Revenue related to PCS, cloud-based offerings, and data subscriptions is recognized ratably over the subscription terms. Professional services revenue is recognized when the services are provided to the customer, or when they expire. Revenue Recognition - ASC 605 We applied the provisions of ASC 605 to revenue recognized during each of the years ended December 31, 2017 and 2016. In Note 3, Revenue , we have presented a comparison of the results under ASC 606 and ASC 605 for the year ended December 31, 2018. Revenue is recognized when all four revenue recognition criteria have been met: persuasive evidence of an arrangement exists, the product has been delivered or the service has been performed, the fee is fixed or determinable, and collection is probable or reasonably assured. Determining whether and when some of these criteria have been satisfied often involves exercising judgment and using estimates and assumptions that can have a significant impact on the timing and amount of revenue that is recognized. Invoiced amounts have been recorded in accounts receivable and in deferred revenue or revenue, depending on whether the revenue recognition criteria have been met. We account for revenue from software and related products and services in accordance with ASC 985-605, Software, or ASC 985-605. For the duration of the license term, the customer receives coterminous PCS. We do not provide PCS on a standalone or renewal basis unless the customer renews the software subscription license and, as such, we are unable to determine vendor specific objective evidence of fair value, or VSOE, of PCS. Accordingly, revenue for the subscription-based software licenses and PCS is recognized ratably beginning on the date the license is first made available to the customer and continuing through the end of the subscription term. We also recognize revenue from the sale of a hosted version of our platform which is delivered pursuant to a hosting arrangement. Revenue from hosted services is recognized ratably beginning on the date the services are first made available to the customer and continuing through the end of the contractual service term. Hosted revenue arrangements are outside the scope of ASC 986-605 software revenue recognition guidance as customers do not have the right to take possession of the software code underlying our hosted solutions. Our arrangements may include the resale of third-party syndicated data content pursuant to subscription arrangements, and professional services. Data subscriptions provide the customer the right to receive data that is updated periodically over the term of the license agreement, and revenue is recognized ratably over the contract period once the customer has access to the data. We recognize revenue from the resale of third-party syndicated data on a gross basis when (i) we are the primary obligor, (ii) we have latitude to establish the price charged, and (iii) we bear credit risk in the transaction. Revenue from professional services, which is comprised primarily of training and consulting services, is recognized as the services are provided. Multiple Element Arrangements We enter into multiple element revenue arrangements in which a customer may purchase a combination of software, data, and services. For multiple element arrangements that contain only software and software-related elements, revenue is allocated and deferred for the undelivered elements based on their VSOE. In situations where VSOE exists for all elements (delivered and undelivered), the revenue to be earned under the arrangement among the various elements is allocated based on their relative fair value. For arrangements where VSOE exists only for the undelivered elements, the full fair value of the undelivered elements is deferred and the difference between the total arrangement fee and the amount deferred for the undelivered items is recognized as revenue. If VSOE does not exist for an undelivered service element, the revenue from the entire arrangement is recognized over the service period, once all services have commenced. Changes in assumptions or judgments or changes to the elements in a software arrangement could cause a material increase or decrease in the amount of revenue recognized in a particular period. VSOE is determined for each element, or a group of elements sold on a combined basis, such as our software and PCS, based on historical standalone sales to third parties or the price to be charged when the product or service, or group of products or services, is available. In determining VSOE, a substantial majority of the selling price for a product or service must fall within a reasonably narrow pricing range. Revenue related to the delivered products or services is recognized only if (i) the above revenue recognition criteria are met, (ii) any undelivered products or services are not essential to the functionality of the delivered products and services, (iii) payment for the delivered products or services is not contingent upon delivery of the remaining products or services, and (iv) there is an enforceable claim to receive the amount due in the event that the undelivered products or services are not delivered. For multiple-element arrangements that contain both software and non-software elements, revenue is allocated on a relative fair value basis to software or software-related elements as a group and any non-software elements separately based on the selling price hierarchy. The selling price for each deliverable is determined using VSOE of selling price, if it exists, or third-party evidence of fair value, or TPE. If neither VSOE nor TPE exist for a deliverable, best estimate of selling price, or BESP, is used. Once revenue is allocated to software or software-related elements as a group, revenue is recognized in accordance with software revenue accounting guidance. Revenue allocated to non-software elements is recognized in accordance with SEC Staff Accounting Bulletin Topic 13, Revenue Recognition . Revenue is recognized when revenue recognition criteria are met for each element. Judgment is required to determine VSOE or BESP. For VSOE, we consider multiple factors including, but not limited to, product types, geographies, sales channels, and customer sizes and, for BESP, we also consider market conditions, competitive landscape, internal costs, gross margin objectives, and pricing practices. Pricing practices taken into consideration include historic contractually stated prices, volume discounts, where applicable, and price lists. BESP is generally used for offerings that are not typically sold on a standalone basis or when the selling prices for a product or service do not fall within a reasonably narrow pricing range. Revenue generated from sales arrangements through distributors is recognized in accordance with our revenue recognition policies as described above at the amount invoiced to the distributor. We recognize revenue at the net amount invoiced to the distributor, as opposed to the gross amount the distributor invoices their end customer, as we have determined that (i) we are not the primary obligor in these arrangements, (ii) we do not have latitude to establish the price charged to the end-customer, and (iii) we do not bear credit risk in the transaction with the end-customer. Deferred Revenue Deferred revenue includes amounts collected or billed in excess of revenue recognized. We recognize such amounts as revenue over the life of the contract upon meeting the revenue recognition criteria. Deferred revenue that will be recognized during the succeeding 12-month period is recorded as current deferred revenue and the remaining portion is recorded as non-current deferred revenue in our consolidated balance sheet, as adjusted for ASC 606 effective January 1, 2018. Cost of Revenue Cost of revenue is accounted for in accordance with ASC 705, Cost of Sales and Services , and consists of employee-related costs, including salaries and bonuses, stock-based compensation expense, and employee benefit costs associated with our customer support and professional services organizations, expenses related to hosting and operating our cloud infrastructure in a third-party data center, licenses of third-party syndicated data, amortization of acquired completed technology intangible assets, and related overhead expenses. Out-of-pocket travel costs related to the delivery of professional services are typically reimbursed by the customers and are accounted for as both revenue and cost of revenue in the period in which the cost is incurred. Research and Development Research and development expense consists primarily of employee-related costs, including salaries and bonuses, stock-based compensation expense, and employee benefits costs, depreciation of equipment used in research and development for our research and development employees, third-party contractor costs, and related allocated overhead costs. Product development expenses, other than software development costs qualifying for capitalization, are expensed as incurred. Software Development Costs Costs incurred in the development of new software products and enhancements to existing software products to be accounted for under software revenue recognition guidance are accounted for in accordance with ASC 985-20, Costs of Software to be Sold, Leased, or Marketed, or ASC 985-20. These costs, consisting primarily of salaries and related payroll costs, are expensed as incurred until technological feasibility has been established. After technological feasibility is established, costs are capitalized in accordance with ASC 985-20. Because our process for developing software is completed concurrently with the establishment of technological feasibility, no internally generated software development costs have been capitalized as of December 31, 2018 , and 2017 . We account for costs to develop or obtain internal-use software in accordance with ASC 350-40, Internal-Use Software, or ASC 350-40. We also account for costs of significant upgrades and enhancements resulting in additional functionality under ASC 350-40. These costs are primarily software purchased for internal-use, purchased software licenses, implementation costs, and development costs related to our hosted product which is accessed by customers on a subscription basis. Costs incurred for maintenance, training, and minor modifications or enhancements are expensed as incurred. Internal-use software is amortized on a straight-line basis over its estimated useful life, which is generally three years. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. Development costs related to internal-use software were insignificant during the years ended December 31, 2018 , and 2017 and, therefore, have not been capitalized. Advertising Costs Advertising costs are expensed as incurred. We incurred advertising costs of approximately $9.1 million , $5.5 million , and $5.0 million for the years ended December 31, 2018 , 2017 , and 2016 , respectively. Such costs primarily relate to our annual customer conferences, online and print advertising as well as sponsorship of public marketing events, and are reflected in sales and marketing expense in our consolidated statements of operations and comprehensive income (loss). Stock-Based Compensation We recognize stock-based com |
Revenue
Revenue | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | Revenue We adopted the new revenue recognition accounting standard, ASC 606, effective January 1, 2018 on a modified retrospective basis and applied the new standard only to contracts that were not completed contracts prior to January 1, 2018. See Note 2, Significant Accounting Policies , of these notes to our consolidated financial statements for a description of our ASC 606 revenue recognition accounting policy. Financial results for reporting periods during 2018 are presented in accordance with the new revenue recognition standard, including retroactive restatement of quarterly information included in Note 18, Selected Quarterly Financial Data (Unaudited) . Historical financial results for reporting periods prior to 2018 have not been retroactively restated and are presented in conformity with amounts previously reported under ASC 605. This note includes additional information regarding the impacts from the adoption of the new revenue recognition standard on our financial results for the year ended December 31, 2018 and also includes the presentation of financial results for the year ended December 31, 2018 under ASC 605 for comparison to the prior year. There were no changes to the ASC 605 policy used in the comparison disclosure during the year ended December 31, 2018. Consolidated Statements of Operations - Reconciliation of the Impacts from the Adoption of the New Revenue Recognition Standard The following table summarizes the impacts from the adoption of the new revenue recognition standard on our consolidated statements of operations for the year December 31, 2018 (in thousands): Year Ended December 31, 2018 2017 As Reported Impacts from Adoption Without Adoption As Reported Revenue(1) $ 253,570 $ 49,266 $ 204,304 $ 131,607 Cost of revenue 22,800 — 22,800 21,803 Gross profit 230,770 49,266 181,504 109,804 Operating expenses: Research and development 43,449 — 43,449 29,342 Sales and marketing 109,284 (1,943 ) 111,227 66,420 General and administrative 48,267 — 48,267 32,241 Total operating expenses 201,000 (1,943 ) 202,943 128,003 Income (loss) from operations 29,770 51,209 (21,439 ) (18,199 ) Interest expense (7,378 ) — (7,378 ) — Other income (expense), net 3,042 160 2,882 (205 ) Income (loss) before provision for (benefit of) income taxes 25,434 51,369 (25,935 ) (18,404 ) Provision for (benefit of) income taxes(1) (2,586 ) 5,497 (8,083 ) (905 ) Net income (loss) $ 28,020 $ 45,872 $ (17,852 ) $ (17,499 ) Less: Accretion of Series A redeemable convertible preferred stock $ — $ — $ — $ (1,983 ) Net income (loss) attributable to common stockholders $ 28,020 $ 45,872 $ (17,852 ) $ (19,482 ) Net income (loss) per share attributable to common stockholders, basic $ 0.46 $ 0.75 $ (0.29 ) $ (0.37 ) Net income (loss) per share attributable to common stockholders, diluted $ 0.43 $ 0.72 $ (0.29 ) $ (0.37 ) (1) The increase in revenue, and resulting decrease in benefit of income taxes, is due to the change in timing of when we recognize revenue under ASC 606. Consolidated Balance Sheets - Reconciliation of the Impacts from the Adoption of the New Revenue Recognition Standard The following table summarizes the impacts from the adoption of the new revenue recognition standard on our consolidated balance sheets as of December 31, 2018 (in thousands): Year Ended December 31, 2018 2017 As Reported Impacts from Adoption Without Adoption As Reported Assets Current assets: Cash and cash equivalents $ 89,974 $ — $ 89,974 $ 119,716 Short-term investments 239,718 — 239,718 54,386 Accounts receivable, net of allowance for doubtful accounts and sales reserves 94,922 (163 ) 95,085 49,797 Deferred commissions (1) 10,353 (11,474 ) 21,827 11,213 Prepaid expenses and other current assets (2) 26,846 10,991 15,855 7,227 Total current assets 461,813 (646 ) 462,459 242,339 Property and equipment, net 11,729 — 11,729 7,492 Long-term investments 96,551 — 96,551 19,964 Goodwill 9,494 (129 ) 9,623 8,750 Intangible assets, net (3) 7,491 (1,477 ) 8,968 7,995 Long-term deferred commissions (1) 12,038 12,038 — — Other assets (2) 18,982 16,480 2,502 4,263 Deferred incomes taxes, net 69 (764 ) 833 613 Total assets $ 618,167 $ 25,502 $ 592,665 $ 291,416 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 5,028 $ — $ 5,028 $ 522 Accrued payroll and payroll related liabilities 24,659 — 24,659 11,835 Accrued expenses and other current liabilities 10,878 297 10,581 8,270 Deferred revenue (2) 84,015 (95,326 ) 179,341 110,213 Total current liabilities 124,580 (95,029 ) 219,609 130,840 Convertible senior notes, net 173,647 — 173,647 — Deferred revenue (2) 2,130 (1,383 ) 3,513 3,545 Other liabilities 4,345 214 4,131 3,313 Deferred income tax, net (2) 11,647 11,647 — 214 Total liabilities 316,349 (84,551 ) 400,900 137,912 Stockholders’ equity: Preferred stock — — — — Common stock 6 — 6 5 Additional paid-in capital 315,291 — 315,291 257,399 Accumulated deficit (12,908 ) 110,069 (122,977 ) (103,546 ) Accumulated other comprehensive loss (571 ) (16 ) (555 ) (354 ) Total stockholders’ equity 301,818 110,053 191,765 153,504 Total liabilities and stockholders’ equity $ 618,167 $ 25,502 $ 592,665 $ 291,416 (1) The decrease in deferred commissions and increase in long-term commissions is due to the change in the period over which we amortize our deferred sales commissions. (2) The increase in prepaid expenses and other current assets and other assets, and the decrease in deferred revenue is due to the change in timing of when we recognize revenue under ASC 606. (3) The decrease in intangible assets, net and goodwill is due to the change in the valuation of certain assets acquired in the acquisition of ANZ in February 2018. See further discussion in Note 4, Business Combinations. Disaggregation of Revenue The disaggregation of revenue by region, type of performance obligation, and timing of revenue recognition was as follows (in thousands): Year Ended December 31, Revenue by type region: 2018 2017 2016 United States $ 178,774 $ 101,932 $ 69,420 International 74,796 29,675 16,370 Total $ 253,570 $ 131,607 $ 85,790 Revenue by type of performance obligation: Subscription-based software license $ 124,669 * * PCS and services 128,901 * * Total $ 253,570 $ 131,607 $ 85,790 Costs by type of performance obligation: Subscription-based software license $ 1,505 * * PCS and services 21,295 * * Total $ 22,800 $ 21,803 $ 16,026 * We adopted ASC 606 under the modified retrospective method, and therefore we did not retrospectively apply the guidance to the years ended December 31, 2017 and December 31, 2016. As a result, this information is not available for prior periods. Revenue attributable to the United Kingdom comprised 10.2% of total revenue for the year ended December 31, 2018. Other than the United Kingdom in the year ended December 31, 2018, no other country outside the United States comprised more than 10% of revenue for any of the periods presented. Our operations outside the United States include sales offices in Australia, Canada, the Czech Republic, France, Germany, Japan, Singapore, the United Arab Emirates and the United Kingdom, and a research and development center in Ukraine and the Czech Republic. Revenue by location is determined by the billing address of the customer. Revenue recognized on our subscription-based software licenses is recognized at a point in time when the platform is first made available to the customer, or the beginning of the subscription term, if later. Revenue recognized related to post-contract support, service, and hosted services is recognized ratably over the subscription term, with the exception of professional services related to training services. Revenue related to professional services is recognized at a point in time as the services are performed, and represents less than 5% of total revenue for all periods presented. Contract Assets and Contract Liabilities Timing may differ between the satisfaction of performance obligations and the invoicing and collection of amounts related to our contracts with customers. Contract assets primarily relate to unbilled amounts for contracts with customers for which the amount of revenue recognized exceeds the amount billed to the customer,. Contract assets are transferred to accounts receivable when the right to invoice becomes unconditional. Contract liabilities, or deferred revenue, are recorded for amounts that are collected in advance of the satisfaction of performance obligations. These liabilities are classified as current and non-current deferred revenue. As of December 31, 2018, our contract assets are expected to be transferred to receivables within the next 12 to 24 months and, with respect to these contract assets, $11.2 million is included in prepaid expenses and other current assets and $16.5 million is included in other assets on our consolidated balance sheet. There were no impairments of contract assets during the year ended December 31, 2018. During the year ended December 31, 2018 we recognized $56.3 million of revenue related to amounts that were included in deferred revenue as of January 1, 2018. Assets Recognized from the Costs to Obtain our Contracts with Customers We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. We amortize these deferred costs proportionate with related revenues over the benefit period. A summary of the activity impacting our deferred contract costs during the year ended December 31, 2018 is presented below (in thousands): Balances at December 31, 2017 $ 11,213 Adoption of ASC 606 (1,154 ) Additional contract costs deferred 30,828 Amortization of deferred contract costs (18,496 ) Balances at December 31, 2018 $ 22,391 As of December 31, 2018, $10.4 million of our deferred contract costs are expected to be amortized within the next 12 months and therefore are included in other current assets. The remaining amount of our deferred contract costs are included in other long-term assets. There were no impairments of assets related to deferred contract costs during the year ended December 31, 2018. There were no assets recognized related to the costs to fulfill contracts during the year ended December 31, 2018 as these costs were not material. Remaining Performance Obligations As of December 31, 2018, we had an aggregate transaction price of $223.1 million , allocated to unsatisfied performance obligations related primarily to PCS, cloud-based offerings, and subscriptions to third-party syndicated data. We expect to recognize $196.4 million as revenue over the next 24 months with the remaining amount recognized thereafter. |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2018 | |
Business Combinations [Abstract] | |
Business Combinations | Business Combinations Acquisition of Alteryx ANZ Pty Limited In February 2018, we acquired 100% of the outstanding equity of Alteryx ANZ Pty Limited, or ANZ, in Sydney, Australia, our exclusive master distributor in Australia and New Zealand. The total purchase consideration for the acquisition was approximately $5.7 million consisting of (i) $3.3 million in cash consideration, (ii) $1.2 million in contingent consideration payable in cash, and (iii) $1.2 million for the settlement of preexisting relationships. The consolidated financial statements include the results of operations of the acquired company commencing as of the acquisition date. The allocation of the total purchase price for this acquisition was $ 3.2 million of net tangible assets, $1.6 million of identifiable intangible assets, consisting of customer contracts and relationships, and $0.9 million of residual goodwill, which was not tax deductible. We determined the fair value of the customer contracts and relationships acquired in the acquisition using the multiple period excess earnings model. This model utilizes certain unobservable inputs, including discounted cash flows, historical and projected financial information, and customer attrition rates, classified as Level 3 measurements as defined by ASC 820. Based on the valuation models, we determined the fair value of the customer contracts and relationships to be $1.6 million with a weighted-average amortization period of seven years. A portion of the consideration for the acquisition is subject to earn-out provisions. Additional contingent earn-out consideration of up to $1.5 million may be paid out to the former shareholder of ANZ over two years upon the achievement of specified milestones. We utilized a probability weighted scenario-based model to determine the fair value of the contingent consideration. Based on this valuation model, we determined the fair value of the contingent consideration to be $1.2 million as of the acquisition date. See Note 5, Fair Value Measurements , of these notes to our consolidated financial statements for additional information on contingent earn-out consideration. The consolidated financial statements include the results of operations of ANZ commencing as of the acquisition date. Acquisition related costs were not material and are included in general and administrative expense in the consolidated statements of operations for the year ended December 31, 2018. Revenue and operating results of ANZ for the year ended December 31, 2018 were not material to the consolidated financial statements. Acquisition of Semanta s.r.o. and Yhat Inc. In January 2017, we acquired 100% of the outstanding equity of Semanta, s.r.o., or Semanta. The total purchase consideration was approximately $5.6 million. The acquisition of Semanta included cash consideration held back for customary indemnification matters for a period of 24 -months following the acquisition date. A portion of the consideration for the Semanta acquisition is subject to earn-out provisions. Additional contingent earn-out consideration of up to $2.3 million in shares of our Class A common stock may be paid out to the former shareholders of Semanta over two years upon the achievement of specified milestones. The number of shares that will be issued will be determined based on the total dollar value of consideration earned upon the achievement of a particular milestone divided by the prior 20-day average trading value of our Class A common stock calculated at the time of the issuance. We utilized a probability weighted scenario-based model to determine the fair value of the contingent consideration. Based on this valuation model we determined the fair value of the contingent consideration to be $1.2 million as of the acquisition date. In May 2017, we acquired 100% of the outstanding equity of Yhat Inc., or Yhat. The total purchase consideration was approximately $10.8 million . A portion of the cash consideration in the Yhat acquisition is currently held in escrow pursuant to the terms of the acquisition agreement and is reflected in goodwill. The total purchase consideration for these acquisitions was approximately $16.4 million and consisted of $9.2 million in completed technology, $8.7 million of goodwill and $1.5 million of net liabilities assumed. We determined the fair value of the completed technology acquired in the acquisitions of Yhat and Semanta during the year ended December 31, 2017 using the multiple period excess earnings and the replacement cost models. These models utilize certain unobservable inputs classified as Level 3 measurements as defined by ASC 820. Key inputs utilized in the models include discount rates ranging from 35% to 45% , a market participant tax rate of 40% , an estimated level of future cash flows based on current product and market data, and estimated costs to recreate the technology. Based on the valuation models, we determined the fair value of the completed technology to be $9.2 million with a weighted-average amortization period of 5.7 years . The consolidated financial statements include the results of operations of the acquired companies commencing as of their respective acquisition dates. Acquisition related costs were not material and are included in general and administrative expense in the consolidated statements of operations for the year ended December 31, 2017. Revenue and operating results of the acquired companies for the year ended December 31, 2017 were not material to the consolidated financial statements. Goodwill represents the excess of the purchase consideration over the fair value of the underlying intangible assets and net liabilities assumed. We believe the amount of goodwill resulting from the acquisitions during the years ended December 31, 2018 and 2017, are primarily attributable to expected synergies from an assembled workforce, increased development capabilities, increased offerings to customers, and enhanced opportunities for growth and innovation. The goodwill resulting from the acquisitions is not tax deductible. Pro forma information and revenue and operating results of the companies acquired during the years ended December 31, 2018 and 2017 have not been presented for these acquisitions as the impact is not significant to our consolidated financial statements. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Instruments Measured at Fair Value on a Recurring Basis. The following tables present our cash and cash equivalents and investments’ costs, gross unrealized gains (losses), and fair value by major security type recorded as cash and cash equivalents or short-term or long-term investments as of December 31, 2018 and December 31, 2017 (in thousands): As of December 31, 2018 Cost Gross Fair Value Cash and Short-term Long-term Cash $ 78,194 $ — $ 78,194 $ 78,194 $ — $ — Level 1: Money market funds 11,780 — 11,780 11,780 — — Subtotal 11,780 — 11,780 11,780 — — Level 2: Commercial paper 1,313 — 1,313 — 1,313 — Certificates of deposit 6,101 — 6,101 — 5,351 750 U.S. Treasury and agency bonds 220,135 (139 ) 219,996 — 158,204 61,792 Corporate bonds 108,968 (110 ) 108,858 — 74,850 34,008 Subtotal 336,517 (249 ) 336,268 — 239,718 96,550 Level 3 — — — — — — Total $ 426,491 $ (249 ) $ 426,242 $ 89,974 $ 239,718 $ 96,550 As of December 31, 2017 Cost Gross Fair Value Cash and Short-term Long-term Cash $ 100,651 $ — $ 100,651 $ 100,651 $ — $ — Level 1: Money market funds 19,065 — 19,065 19,065 — — Subtotal 19,065 — 19,065 19,065 — — Level 2: U.S. Treasury and agency bonds 44,968 (176 ) 44,792 — 25,923 18,869 Corporate bonds 29,608 (50 ) 29,558 — 28,463 1,095 Subtotal 74,576 (226 ) 74,350 — 54,386 19,964 Level 3 — — — — — — Total $ 194,292 $ (226 ) $ 194,066 $ 119,716 $ 54,386 $ 19,964 There were no transfers between Level 1, Level 2, or Level 3 securities during the year ended December 31, 2018 . We review our marketable securities on a regular basis to evaluate whether or not any security has experienced an other-than-temporary decline in fair value. We consider factors such as the length of time and extent to which the market value has been less than the cost, the financial condition and near-term prospects of the issuer and our intent to sell, and whether it is more likely than not we will be required to sell the investment before recovery of the investment’s amortized cost basis. We have determined the gross unrealized losses of $ 0.2 million as of December 31, 2018 were due to changes in market rates, and we have determined the losses are temporary in nature. All the long-term investments had maturities of between one and two years in duration as of December 31, 2018 . Cash and cash equivalents, restricted cash, and investments as of December 31, 2018 and December 31, 2017 held domestically were approximately $417.9 million and $181.3 million , respectively. Contingent Consideration. Contingent consideration in connection with acquisitions is measured at fair value each reporting period based on significant unobservable inputs, classified as Level 3 measurement. See Note 4, Business Combinations , of these notes to our consolidated financial statements for additional information on the valuation of the contingent consideration as of the acquisition date. The contingent earn-out consideration has been recorded in accrued liabilities and other liabilities in our accompanying consolidated balance sheet with any changes in fair value each reporting period recorded in general and administrative expenses in our consolidated statements of operations and comprehensive income (loss). Changes in fair value depend on several factors including estimates of the timing and ability to achieve the milestones. The following table presents a reconciliation of the beginning and ending balances of acquisition-related accrued contingent consideration using significant unobservable inputs (Level 3) (in thousands): Year Ended December 31, 2018 2017 Beginning balance $ 975 $ — Obligations assumed 1,200 1,160 Change in fair value 624 190 Settlement (656 ) (375 ) Ending balance $ 2,143 $ 975 Upon the achievement of certain milestones in connection with our acquisition of Semanta, we released 18,869 shares and 12,492 shares of Class A common stock to the former shareholders of Semanta in the years ended December 31, 2018 and December 31, 2017, respectively. In addition, 10,205 shares were earned, but held back for customary indemnification matters in accordance with the acquisition agreement, and the value of the shares is presented within additional paid-in capital in the consolidated balance sheet as of December 31, 2018 . Subject to any indemnification claims that may arise during the indemnification period, these shares will be issued to the former shareholders upon the completion of the indemnification period. Instruments Not Recorded at Fair Value on a Recurring Basis. We estimate the fair value of our convertible senior notes carried at face value less unamortized discount and issuance costs quarterly for disclosure purposes. The estimated fair value of our convertible senior notes is determined by Level 2 inputs and is based on observable market data including prices for similar instruments. As of December 31, 2018, the fair value of our convertible senior notes was $ 343.2 million. The carrying amounts of our financial instruments, including cash, accounts receivable, prepaid expenses and other current assets, accounts payable, and accrued liabilities approximate their current fair value because of their nature and relatively short maturity dates or durations. Assets and Liabilities Recorded at Fair Value on a Non-Recurring Basis. The fair value of assets acquired and liabilities assumed in a business acquisition, and goodwill and other long lived assets when they are held for sale or determined to be impaired. See Note 4, Business Combinations , and Note 5, Fair Value Measurements , of these notes to our consolidated financial statements for fair value measurements of certain assets and liabilities recorded at fair value on a non-recurring basis. |
Allowance for Doubtful Accounts
Allowance for Doubtful Accounts | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Allowance for Doubtful Accounts | Allowance for Doubtful Accounts The following table summarizes the changes in the allowance for doubtful accounts included in accounts receivable in our consolidated balance sheets (in thousands): Year Ended December 31, 2018 2017 2016 Beginning balance $ 1,455 $ 670 $ 280 Charge-offs (884 ) (337 ) (97 ) Recoveries (693 ) (783 ) (283 ) Provision 1,961 1,905 770 Ending balance $ 1,839 $ 1,455 $ 670 |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | Property and Equipment Property and equipment, net consisted of the following (in thousands): Year Ended December 31, 2018 2017 Computer equipment & software $ 8,909 $ 5,852 Furniture and fixtures 3,685 1,812 Leasehold improvements 5,398 2,229 Construction in process 834 1,493 $ 18,826 $ 11,386 Less: Accumulated depreciation and amortization (7,097 ) (3,894 ) Total property and equipment, net $ 11,729 $ 7,492 Depreciation and amortization expense for the years ended December 31, 2018 , 2017 , and 2016 was approximately $3.2 million , $2.3 million , and $1.7 million , respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Goodwill and Intangible Assets The change in carrying amount of goodwill for the year ended December 31, 2018 was as follows (in thousands): Goodwill at December 31, 2016 $ — Goodwill recorded in connection with acquisition 8,724 Effects of foreign currency translation 26 Goodwill as of December 31, 2017 $ 8,750 Goodwill recorded in connection with acquisition 854 Effects of foreign currency translation (110 ) Goodwill as of December 31, 2018 $ 9,494 Intangible assets consisted of the following (in thousands, except years): As of December 31, 2018 Weighted Average Gross Carrying Accumulated Net Carrying Customer Relationships 6.9 $ 1,554 $ (221 ) $ 1,333 Completed Technology 5.7 9,180 (3,022 ) 6,158 $ 10,734 $ (3,243 ) $ 7,491 As of December 31, 2017 Weighted Average Gross Carrying Accumulated Net Carrying Customer Relationships 2.0 $ 40 $ (12 ) $ 28 Completed Technology 5.7 9,180 (1,213 ) 7,967 $ 9,220 $ (1,225 ) $ 7,995 We classified intangible asset amortization expense in the accompanying consolidated statements of operations and comprehensive income (loss) as follows (in thousands): Year Ended December 31, 2018 2017 2016 Cost of revenue $ 1,809 $ 1,213 $ — Sales and marketing 220 12 — Total $ 2,029 $ 1,225 $ — The following table presents our estimates of remaining amortization expense for each of the five succeeding fiscal years and thereafter for finite-lived intangible assets at December 31, 2018 (in thousands): 2019 $ 2,033 2020 1,719 2021 1,509 2022 963 2023 603 Thereafter 664 Total amortization expense $ 7,491 |
Convertible Senior Notes
Convertible Senior Notes | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Convertible Senior Notes | Convertible Senior Notes In May and June 2018, we sold $230.0 million aggregate principal amount of our 0.50% Convertible Senior Notes due 2023, or the convertible senior notes, including the initial purchasers’ exercise in full of their option to purchase an additional $30.0 million of the convertible senior notes, in a private offering to qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended, or the Act. The convertible senior notes were issued in accordance with an indenture, or the Indenture, between us and U.S. Bank National Association, as trustee. The net proceeds from the issuance of the convertible senior notes were $224.2 million after deducting issuance costs. The convertible senior notes are our senior, unsecured obligations, and interest of 0.50% per year is payable semi-annually in arrears on June 1 and December 1 of each year beginning December 1, 2018. The convertible senior notes will mature on June 1, 2023, unless repurchased or converted in accordance with their terms prior to such date. Prior to the close of business on the business day immediately preceding March 1, 2023, the convertible senior notes are convertible at the option of holders only upon satisfaction of certain conditions and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The convertible senior notes have an initial conversion rate of 22.5572 shares of our Class A common stock per $1,000 principal amount of convertible senior notes, which is equivalent to an initial conversion price of approximately $44.33 per share of Class A common stock. The conversion rate is subject to customary adjustments for certain events as described in the Indenture. Upon conversion, the convertible senior notes may be settled in shares of our Class A common stock, cash or a combination of cash and shares of our Class A common stock, at our election. It is our current intent to settle the principal amount of the convertible senior notes with cash. As of December 31, 2018, the if-converted value of the convertible senior notes exceeded its principal amount by $78.5 million . Prior to the close of business on the business day immediately preceding March 1, 2023, the convertible senior notes are convertible at the option of the holders under the following circumstances: • during any calendar quarter commencing after the calendar quarter ending on June 30, 2018 (and only during such calendar quarter), if the last reported sale price of the Class A common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price of the convertible senior notes on each applicable trading day; • during the 5 business day period after any 5 consecutive trading day period in which the trading price per $1,000 principal amount of convertible senior notes for each day of that 10 day consecutive trading day period was less than 98% of the product of the last reported sale price of our Class A common stock and the conversion rate of the convertible senior notes on such trading day; or • upon the occurrence of specified corporate events described in the Indenture. We may not redeem the convertible senior notes prior to the maturity date. Holders of the convertible senior notes have the right to require us to repurchase for cash all or a portion of their convertible senior notes at 100% of their principal amount, plus any accrued and unpaid interest, upon the occurrence of a fundamental change as defined in the Indenture. We are also required to increase the conversion rate for holders who convert their convertible senior notes in connection with certain corporate events occurring prior to the maturity date. The convertible senior notes will be our senior unsecured obligations and will rank senior in right of payment to any of our indebtedness that is expressly subordinated in right of payment to the convertible senior notes and equal in right of payment to all of our existing and future liabilities that are not subordinated. The convertible senior notes are effectively junior to any of our secured indebtedness to the extent of the value of the assets securing such indebtedness and structurally junior to all indebtedness and other liabilities (including trade payables) of our current or future subsidiaries. In accounting for the issuance of the convertible senior notes, we separated the convertible senior notes into liability and equity components. The carrying amount of the liability component was calculated by estimating the fair value of similar liabilities that do not have associated convertible features. The carrying amount of the equity component, representing the conversion option, was determined by deducting the fair value of the liability component from the principal amount of the convertible senior notes. The difference between the principal amount of the convertible senior notes and the liability component is amortized to interest expense over the term of the convertible senior notes using the effective interest method. The equity component, net of issuance costs and deferred tax effects, is presented within additional paid-in-capital in our consolidated balance sheet, and will not be remeasured as long as it continues to meet the requirements for equity classification. The convertible senior notes consisted of the following (in thousands): As of December 31, 2018 Liability: Principal $ 230,000 Less: debt discount, net of amortization (56,353 ) Net carrying amount $ 173,647 Equity, net of issuance costs $ 57,251 The following table sets forth interest expense recognized related to the convertible senior notes (in thousands, except effective interest rate): Year Ended December 31, 2018 Contractual interest expense $ 712 Amortization of debt issuance costs and discount 6,652 Total $ 7,364 Effective interest rate of the liability component 7.00 % Capped Call In connection with the pricing of the convertible senior notes, we entered into privately negotiated capped call transactions with an affiliate of one of the initial purchasers of the convertible senior notes and other financial institutions. The capped call transactions are expected generally to reduce or offset potential dilution to holders of our common stock and/or offset the potential cash payments that we could be required to make in excess of the principal amount upon any conversion of the convertible senior notes under certain circumstances, with such reduction and/or offset subject to a cap based on the cap price. Under the capped call transactions, we purchased capped call options that in the aggregate relate to the total number of shares of our Class A common stock underlying the convertible senior notes, with an initial strike price of approximately $44.33 per share, which corresponds to the initial conversion price of the convertible senior notes and is subject to anti-dilution adjustments substantially similar to those applicable to the conversion rate of the convertible senior notes, and have a cap price of $62.22 per share. The cost of the purchased capped calls of $19.1 million was recorded as a reduction to additional paid-in-capital in our consolidated balance sheet. We elected to integrate the capped call options with the convertible senior notes for federal income tax purposes pursuant to applicable U.S. Treasury Regulations. Accordingly, the $19.1 million gross cost of the purchased calls will be deductible for income tax purposes as original discount interest over the term of the convertible senior notes. We recorded a deferred tax asset of $4.6 million , which represents the tax benefit of these deductions with an offsetting entry to additional paid-in capital. |
Accrued Expenses and Other Curr
Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Dec. 31, 2018 | |
Payables and Accruals [Abstract] | |
Accrued Expenses and Other Current Liabilities | Accrued Expenses and Other Current Liabilities Accrued commissions of approximately $8.6 million and $4.9 million as of December 31, 2018 and 2017 , respectively, were included in accrued payroll and payroll-related liabilities in our consolidated balance sheets. |
Redeemable Convertible Preferre
Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) | Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit) Redeemable Convertible Preferred Stock Upon the closing of our initial public offering in March 2017, all shares of our then-outstanding convertible preferred stock automatically converted on a one -for-one basis into shares of Class B common stock. Reverse Stock Split In February 2017, we effected a 2-to-1 reverse stock split of our outstanding common and preferred stock and a corresponding reduction in the number of authorized shares of preferred stock. All share and per share amounts for all periods presented in these consolidated financial statements and notes have been adjusted retrospectively to reflect this reverse stock split. Dual Class Common Stock Structure In February 2017, we implemented a dual class common stock structure in which each then existing share of common stock converted into a share of Class B common stock and we also authorized a new class of common stock, the Class A common stock. The Class A common stock is entitled to one vote per share and the Class B common stock is entitled to ten votes per share. The Class A common stock and Class B common stock have the same dividend and liquidation rights, and the Class B common stock converts to Class A common stock at any time at the option of the holder, or automatically upon the date that is the earliest of (i) the date specified by a vote of the holders of at least 66 2/3% of the outstanding shares of Class B common stock, (ii) March 29, 2027, and (iii) the date that the total number of shares of Class B common stock outstanding cease to represent at least 10% of the aggregate number of shares of Class A common stock and Class B common stock then outstanding. In addition, each share of Class B common stock will convert automatically into one share of Class A common stock upon any transfer, except for certain permitted transfers described in our restated certificate of incorporation, or the Restated Certificate. Upon the creation of the dual class common stock structure all outstanding options to purchase common stock became options to purchase an equivalent number of shares of Class B common stock, and all RSUs, became RSUs for an equivalent number of shares of Class B common stock. Upon the effectiveness of the Restated Certificate in March 2017, the number of shares of capital stock that were authorized to be issued consisted of 500,000,000 shares of Class A common stock, $0.0001 par value per share, 500,000,000 shares of Class B common stock, $0.0001 par value per share, and 10,000,000 shares of undesignated preferred stock, $0.0001 par value per share. Preferred Stock Our board of directors is authorized, subject to limitations prescribed by Delaware law, to issue preferred stock in one or more series, to establish from time to time the number of shares to be included in each series, and to fix the designation, powers, preferences, and rights of the shares of each series and any of its qualifications, limitations, or restrictions, in each case without further vote or action by our stockholders. As of December 31, 2018 , no shares of preferred stock were outstanding. |
Equity Awards
Equity Awards | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Awards | Equity Awards Amended and Restated 2013 Stock Plan We granted options and RSUs under our Amended and Restated 2013 Stock Plan, or 2013 Plan, until March 22, 2017 , when the plan was terminated in connection with our IPO. Accordingly, no shares are available for future issuance under the 2013 Plan following the IPO. The 2013 Plan continues to govern outstanding equity awards granted thereunder. 2017 Equity Incentive Plan In February 2017, our board of directors adopted, and our stockholders approved, the 2017 Equity Incentive Plan, or 2017 Plan. The 2017 Plan became effective on March 22, 2017 and is the successor plan to the 2013 Plan. Under the 2017 Plan, we initially reserved (i) 5.1 million shares of Class A common stock for future issuance and (ii) 0.5 million shares of Class A common stock equal to the number of Class B shares reserved but not issued under the 2013 Plan as of the effective date of the 2017 Plan. The number of shares of Class A common stock reserved for issuance under our 2017 Plan will increase automatically on the first day of January of each of 2018 through 2027 by the lesser of (a) 5% of the total outstanding shares of our Class A and Class B common stock as of the immediately preceding December 31 and (b) the number of shares determined by our board of directors. The share reserve may also increase to the extent that outstanding awards under our 2013 Plan expire or terminate. As of December 31, 2018, an aggregate of 6.9 million shares of Class A common stock were reserved for issuance under the 2017 Plan. 2017 Employee Stock Purchase Plan In February 2017, our board of directors adopted, and our stockholders approved, the 2017 Employee Stock Purchase Plan, or 2017 ESPP. The 2017 ESPP became effective on March 23, 2017. Under the 2017 ESPP, we reserved 1.1 million shares of Class A common stock for future issuance. The number of shares of Class A common stock reserved for issuance under our 2017 ESPP will increase automatically on the first day of January of each of 2018 through 2027 by the lesser of (a) 1% of the total outstanding shares of our Class A and Class B common stock as of the immediately preceding December 31 and (b) the number of shares determined by our board of directors. The aggregate number of shares issued over the term of the 2017 ESPP may not exceed 11,000,000 shares of Class A common stock. Under the 2017 ESPP, eligible employees are allowed to purchase shares of our Class A common stock at a discount through payroll deductions of up to 15% of their eligible compensation, subject to plan limitations. Except for the first offering period, which began on the date our Registration Statement on Form S-1 covering the initial public offering of our shares of Class A common stock was declared effective by the SEC, purchase periods are approximately six months in duration starting on the first trading date on or after February 15th and August 15 th of each year. Participants are able to purchase shares of our Class A common stock at 85% of the lower of its fair market value on (i) the first day of the purchase period or on (ii) the purchase date, which is the last day of the purchase period. In 2018, employees purchased 0.1 million shares of Class A common stock at a price per share of $21.44 . As of December 31, 2018 , 1.5 million shares of Class A common stock were available for future issuance under the 2017 ESPP. Stock Options Stock options generally vest over four years and expire ten years from the date of grant. Vested stock options generally expire three months after termination of employment. We allow for early exercise of certain stock option grants. Stock option activity, excluding activity related to the ESPP, during the year ended December 31, 2018 consisted of the following (in thousands, except weighted-average information): Options Weighted- Aggregate Intrinsic Value Weighted-Average Remaining Contractual Term (Years) Options outstanding at December 31, 2017 5,196 $ 8.70 $ 86,108 7.8 Granted 672 28.26 Exercised (1,632 ) 6.85 $ 56,943 Cancelled/forfeited (187 ) 13.29 Options outstanding at December 31, 2018 4,049 $ 12.48 $ 190,277 7.2 Exercisable 2,363 $ 6.96 $ 124,068 6.3 Vested and expected to vest 4,049 $ 12.48 $ 190,277 7.2 The total intrinsic value of options exercised in the years ended December 31, 2018 , 2017 , and 2016 was $56.9 million , $25.7 million , and $4.1 million , respectively. The intrinsic value represents the excess of the fair market value of our common stock on the date of exercise over the exercise price of each option. As of December 31, 2018 , there was $13.2 million of unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted-average period of 2.5 years . Valuation Assumptions The following table presents the weighted-average assumptions used for stock options granted for each of the years indicated: Stock Options Employee Stock Purchase Plan 2018 2017 2016 2018 2017 2016 Expected term (in years) 6.1 6.1 6.0 0.5 0.4 — Estimated volatility 41 % 42 % 41 % 52 % 29 % — Risk-free interest rate 2 % 2 % 2 % 2 % 1 % — Estimated dividend yield — — — — — — Weighted average fair value $ 12.09 $ 7.53 $ 4.47 $ 12.13 $ 4.02 $ — Restricted Stock Units RSUs granted under the 2017 Plan generally vest over four years and expire ten years from date of grant. RSUs will be forfeited in case of a termination of employment or service before the satisfaction of the vesting schedule. RSU activity during the year ended December 31, 2018 consisted of the following (in thousands, except weighted-average information): Awards Weighted- Aggregate Intrinsic Value RSUs outstanding at December 31, 2017 464 $ 16.81 Granted 1,037 35.51 Vested (202 ) 16.33 $ 9,778 Cancelled/forfeited (84 ) 30.13 RSUs outstanding at December 31, 2018 1,215 $ 31.93 $ 72,266 As of December 31, 2018 , total unrecognized compensation expense related to unvested RSUs was approximately $31.0 million , which is expected to be recognized over a weighted-average period of 3.2 years . We classified stock-based compensation expense in the accompanying consolidated statements of operations and comprehensive income (loss) as follows (in thousands): Year Ended December 31, 2018 2017 2016 Cost of revenue $ 797 $ 485 $ 106 Research and development 3,699 1,635 338 Sales and marketing 6,153 2,302 1,281 General and administrative 5,998 4,519 1,559 Total $ 16,647 $ 8,941 $ 3,284 |
Retirement Plan
Retirement Plan | 12 Months Ended |
Dec. 31, 2018 | |
Retirement Benefits [Abstract] | |
Retirement Plan | Retirement Plan We established a savings plan that qualifies as a defined contribution plan under Section 401(k) of the Internal Revenue Code of 1986, as amended, or the Code, for the benefit of our employees. Our contributions to the savings plan are discretionary and vest immediately. We contributed approximately $2.4 million , $1.6 million and $1.1 million to the savings plan for the years ended December 31, 2018 , 2017 , and 2016 , respectively. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies The Company’s contractual obligations and commitments as of July 31, 2018 are as follows Our contractual obligations and commitments as of December 31, 2018 were as follows (in thousands): Lease Obligations Purchase Obligations Convertible Senior Notes and Related Interest Year Ended December 31, Total 2019 $ 6,389 $ 11,724 $ 1,150 $ 19,263 2020 6,781 8,864 1,150 16,795 2021 6,326 6,567 1,150 14,043 2022 6,276 6,600 1,150 14,026 2023 5,163 — 230,575 235,738 Thereafter 9,427 — — 9,427 Total minimum lease payments $ 40,362 $ 33,755 $ 235,175 $ 309,292 Leases We have various non-cancelable operating leases for our offices. These leases expire at various times through 2025. Certain lease agreements contain renewal options, rent abatement, and escalation clauses. We recognize rent expense on a straight-line basis over the lease term, commencing when we take possession of the property. Total rent expense under operating leases was approximately $6.4 million , $4.1 million and $2.7 million for the years ended December 31, 2018 , 2017 , and 2016 , respectively. Indemnification In the ordinary course of business, we enter into agreements in which we may agree to indemnify other parties with respect to certain matters, including losses resulting from claims of intellectual property infringement, damages to property or persons, business losses, or other liabilities. In addition, we have entered into indemnification agreements with our directors, executive officers, and certain other employees that will require us to indemnify them against liabilities that may arise by reason of their status or service as directors, officers, or employees. The term of these indemnification agreements with our directors, executive officers, and other employees, are generally perpetual after execution of the agreement. The maximum potential amount of future payments we could be required to make under these indemnification provisions is unlimited; however, we maintain insurance that reduces our exposure and enables us to recover a portion of any future amounts paid. As of December 31, 2018 and December 31, 2017 , we have not accrued a liability for these indemnification provisions because the likelihood of incurring a payment obligation, if any, in connection with these arrangements is not probable or reasonably estimable. Litigation From time to time, we may be involved in lawsuits, claims, investigations, and proceedings, consisting of intellectual property, commercial, employment, and other matters, which arise in the ordinary course of business. Other than the matters described below, we are not currently party to any material legal proceedings or claims, nor are we aware of any pending or threatened litigation or claims that could have a material adverse effect on our business, operating results, cash flows, or financial condition should such litigation or claim be resolved unfavorably. Warranty We warrant to customers that our platform will operate substantially in accordance with its specifications. Historically, no significant costs have been incurred related to product warranties and none are expected in the future and, as such, no accruals for product warranty costs have been made. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The components of income (loss) before provision for (benefit of) income taxes were as follows (in thousands): Year Ended December 31, 2018 2017 2016 Domestic $ 27,849 $ 24,460 $ (24,741 ) Foreign (2,415 ) (42,864 ) 691 Total $ 25,434 $ (18,404 ) $ (24,050 ) The components of the provision for (benefit of) income taxes were as follows (in thousands): Year Ended December 31, 2018 2017 2016 Current: Federal $ (14 ) $ 38 $ — State 314 70 6 Foreign 587 297 229 Total current income tax expense $ 887 $ 405 $ 235 Deferred: Federal $ (2,321 ) $ (1,564 ) $ — State (869 ) — — Foreign (283 ) 254 (27 ) Total deferred income tax benefit: $ (3,473 ) $ (1,310 ) $ (27 ) Total $ (2,586 ) $ (905 ) $ 208 The following table reconciles our provision for (benefit of) income taxes at the statutory rate to that at the effective tax rate, using a U.S. federal statutory tax rate of 21% for 2018, and 34% for 2017 and 2016 (in thousands): Year Ended December 31, 2018 2017 2016 Income tax at federal statutory rate $ 5,341 $ (6,257 ) $ (8,177 ) Increase/(decrease) in tax resulting from: State income tax expense, net of federal (438 ) 1,428 (716 ) Foreign rate differential 853 15,375 (88 ) Stock-based compensation (7,916 ) (1,086 ) 602 Change in valuation allowance 510 (20,500 ) 8,449 Tax impact due to tax law change — 2,627 — Change in uncertain tax position reserves — 7,854 — Current year research credits (1,563 ) (965 ) — Prior years research credits — (1,284 ) — Other 627 1,903 138 Total $ (2,586 ) $ (905 ) $ 208 The following table shows the significant components of deferred income tax assets (liabilities) (in thousands): As of December 31, 2018 2017 Deferred revenue $ 577 $ 764 Net operating losses 3,424 5,655 Accruals and reserves 3,039 1,022 State taxes 440 (212 ) Deferred commissions (4,595 ) (2,467 ) Stock-based compensation 3,361 1,572 Fixed assets & intangibles (953 ) (1,327 ) Research & other credits 5,185 2,407 Convertible debt (8,499 ) — Effects of new accounting standard (13,113 ) — Other 695 289 Valuation allowance (1,138 ) (7,304 ) Net non-current deferred tax assets $ (11,577 ) $ 399 We have evaluated the available positive and negative evidence supporting the realization of our gross deferred tax assets, including our cumulative losses, and the amount and timing of future taxable income. With the adoption of ASC 606 effective January 1, 2018, we plan to file proper tax forms to change our method of accounting for U.S. federal and state income tax reporting purposes. We will defer and recognize over four tax years, the taxable portion of the income we recognized and recorded to the accumulated deficit at January 1, 2018, from adopting ASC 606. As a result, we recorded a related deferred tax liability, representing a source of significant future taxable income and constituting persuasive positive evidence supporting realization of our gross deferred assets. On that basis, we have concluded it is more likely than not that we will realize a substantial portion of our deferred tax assets at January 1, 2018. Accordingly, we released $6.7 million of our $7.3 million valuation allowance at January 1, 2018. The release of the U.S. valuation allowance resulted in a tax benefit that is a part of the cumulative effect adjustment to accumulated deficit at January 1, 2018. Our valuation allowance at December 31, 2018 pertains to deferred tax assets that we are not more likely than not to realize, consisting of foreign tax credits and a capital loss carryforward. The following table shows the changes in our valuation allowance (in thousands): Year Ended December 31, 2018 2017 2016 Beginning balance $ 7,304 $ 27,804 $ 19,355 Decrease in valuation allowance due to Yhat acquisition — (998 ) — Decrease in valuation allowance due to adoption of ASC 606 (6,676 ) — — Increase (decrease) in valuation allowance 510 (19,502 ) 8,449 Ending balance $ 1,138 $ 7,304 $ 27,804 As of December 31, 2018 , we had U.S. federal and state income tax net operating loss carryforwards of approximately $32.9 million and $17.6 million , respectively. The U.S. federal and state net operating losses will begin to expire in 2035 and 2025, respectively, unless previously utilized. Under Sections 382 and 383 of the Code, annual use of our net operating loss carryforwards and tax credits may be limited if a cumulative change in ownership of more than 50% occurs within a three-year period. We determined that such an ownership change occurred in 2015. This ownership change limits the future annual use of our net operating loss carryforwards and tax credits, but did not permanently disallow any of those tax attributes. On December 22, 2017, the Tax Cuts and Jobs Act of 2017, or the Tax Act became law. The legislation adopts significant changes to the Code that include, among other things, reduction of the U.S. federal corporate income tax rate from 35% to 21% , effective for tax years beginning after December 31, 2018 , the transition of U.S. international taxation from a worldwide tax system to a territorial system, and imposition of a one-time transition tax on cumulative foreign earnings at December 31, 2018 . Under the Tax Act, we remeasured our U.S. deferred tax assets and liabilities that would reverse after December 31, 2017, at the reduced U.S. federal corporate income tax rate of 21%. As a result, we reduced our net U.S. deferred tax asset and our valuation allowance by $2.6 million , which resulted in no net income tax expense for the year ended December 31, 2017. We had no cumulative foreign earnings at December 31, 2017, and as a result, were not impacted by the one-time transition tax included in the Tax Act. As of December 31, 2017, we completed our accounting for the income tax effects of the Tax Act, including our election of an accounting policy, the period cost method, which recognizes the tax effects of future inclusions of global intangible low-taxed income, or GILTI, in the period we become subject to GILTI. The Tax Act had minimal impact on our income tax provision and income tax accruals as of and for the year ended December 31, 2018 . Other provisions in the Tax Act that took effect in 2018, such as those relevant to us pertaining to GILTI, covering foreign income earned in low-tax countries, and the deduction for foreign derived intangible income, or FDII, had no impact on our income tax provision and income tax accruals as of and for the year ended December 31, 2018. However, we expect the GILTI tax and the FDII deduction to impact our income tax provision and accruals after 2018. We have not accrued U.S. state income taxes or foreign withholding taxes on the earnings of our foreign subsidiaries, as these amounts are intended to be indefinitely reinvested in operations outside the United States. As of December 31, 2018 , there are immaterial cumulative amounts of undistributed earnings at our foreign subsidiaries. We are subject to taxation in the United States and various states and international jurisdictions. Our U.S. federal tax returns are open for examination for tax years 2015 and forward, and our state tax returns are open for examination for tax years 2014 and forward. Our tax returns for international jurisdictions are open for examination for tax years 2014 and forward. However, net operating loss and other tax attribute carryforwards utilized in subsequent years continue to be subject to examination by the tax authorities until the year to which the net operating loss and/or other tax attributes are carried forward is no longer subject to examination. Neither we nor any of our subsidiaries are currently under examination from tax authorities in the jurisdictions in which we do business. At December 31, 2018 , we had approximately $6.2 million of unrecognized tax benefits pertaining to transfer pricing. If fully recognized, $5.7 million of the unrecognized tax benefits would reduce our effective tax rate. In the next 12 months, we do not expect our unrecognized tax benefits to decrease. We had no accruals for interest or penalties related to our uncertain tax positions at December 31, 2018, 2017 , and 2016 . The following table shows the activity in gross unrecognized tax benefits: Year Ended December 31 2018 2017 2016 Balance at beginning of year $ 5,794 $ — $ — Additions based on tax position related to the current year 391 5624 — Additions for tax positions of prior years 49 170 — Balance at end of year $ 6,234 $ 5,794 $ — |
Basic and Diluted Net Income (L
Basic and Diluted Net Income (Loss) Per Share | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Basic and Diluted Net Income (Loss) Per Share | Basic and Diluted Net Income (Loss) Per Share The following table presents the computation of net income (loss) per share: Year Ended December 31, 2018 2017 2016 Numerator: Net income (loss) attributable to common stockholders $ 28,020 $ (19,482 ) $ (30,700 ) Denominator: Weighted-average shares used to compute net income (loss) per share attributable to common stockholders, basic 60,829 53,006 32,440 Effect of dilutive securities: Convertible senior notes 409 — — Employee stock awards 3,506 — — Weighted-average shares used to compute net income (loss) per share attributable to common stockholders, diluted 64,744 53,006 32,440 Net income (loss) per share attributable to common stockholders, basic $ 0.46 $ (0.37 ) $ (0.95 ) Net income (loss) per share attributable to common stockholders, diluted $ 0.43 $ (0.37 ) $ (0.95 ) The following weighted-average equivalent shares of common stock were excluded from the diluted net income (loss) per share calculation because their inclusion would have been anti-dilutive (in thousands): Year Ended December 31, 2018 2017 2016 Stock awards 510 6,312 5,516 Conversion of convertible preferred stock — 3,290 14,647 Contingently issuable shares — 7 — Total shares excluded from net loss per share 510 9,609 20,163 It is our current intent to settle the principal amount of the convertible senior notes with cash, and therefore, we use the treasury stock method for calculating any potential dilutive effect of the conversion option on diluted net income (loss) per share. The conversion option may have a dilutive impact on net income per share of common stock when the average market price per share of our Class A common stock for a given period exceeds the initial conversion price of the convertible senior notes of $44.33 per share. The dilutive impact of the convertible senior notes is included in the tables above. |
Segment and Geographic Informat
Segment and Geographic Information | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Segment and Geographic Information | Segment and Geographic Information Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker, or CODM, who is our chief executive officer, in deciding how to allocate resources and assess our financial and operational performance. Our CODM evaluates our financial information and resources and assesses the performance of these resources on a consolidated and aggregated basis. As a result, we have determined that our business operates in a single operating segment. As of December 31, 2018 and 2017 , substantially all of our property and equipment was located in the United States. |
Selected Quarterly Financial Da
Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Selected Quarterly Financial Data (Unaudited) | Selected Quarterly Financial Data (Unaudited) The following table sets forth unaudited quarterly financial information for the years ended December 31, 2018 and 2017 . As discussed in Note 2, Significant Accounting Policies, we adopted ASC 606 as of January 1, 2018 on a modified retrospective basis. The quarterly information for the three months ended March 31, 2018, June 30, 2018 and September 30, 2018 have been recast to reflect the adoption of ASC 606. Amounts presented for fiscal year 2017 are presented under ASC 605. We have prepared the unaudited quarterly consolidated statements of operations data on a basis consistent with the audited annual consolidated financial statements. In the opinion of management, the financial information in this table reflects all adjustments, consisting of normal and recurring adjustments, necessary for the fair statement of this data (in thousands except per share data): 2018 Quarter Ended March 31 (1) June 30 (1) September 30 (1) December 31 Revenue $ 50,329 $ 51,502 $ 62,589 $ 89,150 Gross margin 45,325 46,233 56,779 82,433 Income (loss) from operations 2,683 (3,425 ) 9,394 21,118 Net income (loss) 4,897 (4,239 ) 10,821 16,541 Diluted income (loss) per share 0.08 (0.07 ) 0.17 $ 0.25 2017 Quarter Ended March 31 June 30 September 30 December 31 Revenue $ 28,545 $ 30,319 $ 34,155 $ 38,588 Gross margin 23,719 25,025 28,730 32,330 Loss from operations (5,614 ) (8,138 ) (2,563 ) (1,884 ) Net loss (5,667 ) (6,994 ) (3,299 ) (1,539 ) Diluted loss per share (0.22 ) (0.12 ) (0.06 ) (0.03 ) (1) The amounts for the three months ended March 31, 2018, June 30, 2018 and September 30, 2018 have been adjusted from previously reported amounts as a result of the adoption of ASC 606. Refer to the tables below for a reconciliation of the previously reported amounts to the adjusted amounts. Quarter Ended March 31, 2018 As Reported ASC 606 Adjustment As Adjusted Revenue $ 42,821 $ 7,508 $ 50,329 Gross margin 37,817 7,508 45,325 Income (loss) from operations (5,848 ) 8,531 2,683 Net income (loss) (5,186 ) 10,083 4,897 Diluted income (loss) per share (0.09 ) 0.17 0.08 Quarter Ended June 30, 2018 As Reported ASC 606 Adjustment As Adjusted Revenue $ 46,796 $ 4,706 $ 51,502 Gross margin 41,527 4,706 46,233 Loss from operations (8,927 ) 5,502 (3,425 ) Net loss (5,295 ) 1,056 (4,239 ) Diluted loss per share (0.09 ) 0.02 (0.07 ) Quarter Ended September 30, 2018 As Reported ASC 606 Adjustment As Adjusted Revenue $ 54,179 $ 8,410 $ 62,589 Gross margin 48,369 8,410 56,779 Income (loss) from operations (371 ) 9,765 9,394 Net income (loss) (244 ) 11,065 10,821 Diluted income (loss) per share — 0.17 0.17 |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Principles of Consolidation and Basis of Presentation | Our consolidated financial statements are presented in accordance with accounting standards generally accepted in the United States of America, or U.S. GAAP, and include the accounts of Alteryx, Inc. and its wholly owned subsidiaries after elimination of intercompany transactions and balances. |
Use of Estimates | The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates and assumptions. On an ongoing basis, our management evaluates estimates and assumptions based on historical data and experience, as well as various other factors that our management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities. |
Concentration of Risk | Financial instruments, which subject us to concentrations of credit risk, consist primarily of cash and cash equivalents, investments, and trade accounts receivable. We maintain our cash and cash equivalents and investments with three major financial institutions and a portion of such balances exceed or are not subject to Federal Deposit Insurance Corporation, or FDIC, insurance limits. We extend differing levels of credit to customers, do not require collateral deposits, and, when necessary, maintain reserves for potential credit losses based upon the expected collectability of accounts receivable. We manage credit risk related to our customers by following credit approval processes, establishing credit limits, performing periodic evaluations of credit worthiness and applying other credit risk monitoring procedures. Accounts receivable include amounts due from customers with principal operations primarily in the United States. As of December 31, 2018 one of our distributors made up 10.1% of our total accounts receivable balance. No other customers accounted for 10% or more of our accounts receivable balance or 10% or more of our revenue in any years presented. |
Fair Value of Financial Instruments | We utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. We determine fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active near the measurement date; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value of our money market funds was determined based on “Level 1” inputs. The fair value of certificates of deposit, U.S. Treasury and agency bonds, and corporate bonds were determined based on “Level 2” inputs. The valuation techniques used to measure the fair value of certificates of deposit included observable market-based inputs for similar assets, which primarily include yield curves and time-to-maturity factors. The valuation techniques used to measure the fair value of U.S. Treasury and agency bonds and corporate bonds included standard observable inputs, including reported trades, quoted market prices, matrix pricing, benchmark yields, broker/dealer quotes, issuer spreads, two-sided markets or benchmark securities and data provided by third parties as many of the bonds are not actively traded. |
Cash and Cash Equivalents and Restricted Cash | We consider cash and cash equivalents to include short-term, highly liquid investments that are readily convertible to known amounts of cash and so near their maturity that they present an insignificant risk of changes in the value, including investments that mature within three months from the date of original purchase. Amounts receivable from a credit card processor of approximately $0.4 million and $0.7 million as of December 31, 2018 and 2017 , respectively, are considered cash equivalents because they were both short-term and highly liquid in nature and are typically converted to cash within three days of the sales transaction. |
Investments in Marketable Securities | Our investments consist of available-for-sale marketable securities. The classification of investments is determined at the time of purchase and reevaluated at each balance sheet date. We classify investments as current or non-current based on the nature of the securities as well as their stated maturities. Investments are stated at fair value. The net unrealized gains or losses on available-for-sale securities are recorded as a component of accumulated other comprehensive loss, net of income taxes. At each balance sheet date, we assess available-for-sale securities in an unrealized loss position to determine whether the unrealized loss is other than temporary. We consider factors including the significance of the decline in value as compared to the cost basis, underlying factors contributing to a decline in the prices of securities in a single asset class, how long the market value of the security has been less than its cost basis, the security’s relative performance versus its peers, sector or asset class, expected market volatility, and the market and economy in general, and, if determined to be other than temporary, will record an other than temporary impairment charge. |
Accounts Receivable, Allowance for Doubtful Accounts, and Sales Reserves | Our accounts receivable consist of amounts due from customers and are typically unsecured. Accounts receivable are recorded at the invoiced amount and are non-interest bearing. The allowance for doubtful accounts is estimated and established by assessing individual accounts receivable over a specific age and dollar value, and all other balances are pooled based on historical collection experience. Additions to the allowance are charged to general and administrative expenses. Accounts receivable are written off against the allowance when an account balance is deemed uncollectible. We estimate a sales reserve based upon the historical adjustments made to customer billings. Such reserve is recorded as a reduction of revenue and deferred revenue. |
Assets Recognized from the Costs to Obtain a Contract with Customer, Royalties, Revenue Recognition, Deferred Revenue, Cost of Revenue | Our revenue is derived from the licensing of subscription-based software, data subscription services, and professional services, including training and consulting services. The subscription-based license includes access to hosted services and software and post-contract support, or PCS, which provides the customer the right to receive when-and-if-available unspecified future updates, upgrades and enhancements, and technical product support. We implemented the provisions of ASC 606, and all related appropriate guidance, effective as of January 1, 2018 under the modified retrospective method. The core principle of ASC 606 is to recognize revenue upon the transfer of goods or services to our customers in an amount that reflects the consideration to which we expect to be entitled. In order to adhere to this core principle, we apply the following five-step approach: • identify the contract with a customer; • identify the performance obligations in the contract; • determine the transaction price; • allocate the transaction price to the performance obligations in the contract; and • recognize revenue when (or as) we satisfy a performance obligation. We only apply the five-step model to contracts when it is probable that we will collect the consideration we are entitled to in exchange for goods or services we transfer to the customer. Revenue is measured based on consideration specified in a contract with a customer, and excludes any taxes we collect concurrent with revenue-producing activities. Most of our contracts contain a fixed transaction price. Our subscription agreements typically range from one to three years and are billed annually in advance with net payment terms of 60 days or less. The primary purpose of our payment and invoicing terms is to provide customers with predictable ways to purchase our software and services, and not to provide customers with financing. Our contracts with customers typically contain multiple performance obligations. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. All of our licenses are sold as subscription-based, on-premise, licenses and are bundled with maintenance and support, or PCS, and cloud-based offerings. In addition to our on-premise licenses, we sell subscriptions to third-party syndicated data and provide professional service offerings primarily related to trainings for our customers. We allocate the transaction price of the contract to each performance obligation using the relative standalone selling price, or SSP, of each distinct good or service in the contract. We determine estimates of SSP based on sales of goods and services sold on a standalone basis, our overall pricing strategies, market conditions, including the geographic locations in which the products are sold, and market data. We review the SSP for each of our performance obligations at least every financial reporting period and update it when appropriate to ensure that the practices employed reflect our recent pricing experience and maximize the use of observable data. We recognize revenue when we satisfy a performance obligation by transferring control of a good or service to a customer. Revenue related to our subscription-based licenses is recognized at a point in time when the platform is first made available to the customer, or the beginning of the subscription term, if later. Revenue related to PCS, cloud-based offerings, and data subscriptions is recognized ratably over the subscription terms. Professional services revenue is recognized when the services are provided to the customer, or when they expire. Revenue Recognition - ASC 605 We applied the provisions of ASC 605 to revenue recognized during each of the years ended December 31, 2017 and 2016. In Note 3, Revenue , we have presented a comparison of the results under ASC 606 and ASC 605 for the year ended December 31, 2018. Revenue is recognized when all four revenue recognition criteria have been met: persuasive evidence of an arrangement exists, the product has been delivered or the service has been performed, the fee is fixed or determinable, and collection is probable or reasonably assured. Determining whether and when some of these criteria have been satisfied often involves exercising judgment and using estimates and assumptions that can have a significant impact on the timing and amount of revenue that is recognized. Invoiced amounts have been recorded in accounts receivable and in deferred revenue or revenue, depending on whether the revenue recognition criteria have been met. We account for revenue from software and related products and services in accordance with ASC 985-605, Software, or ASC 985-605. For the duration of the license term, the customer receives coterminous PCS. We do not provide PCS on a standalone or renewal basis unless the customer renews the software subscription license and, as such, we are unable to determine vendor specific objective evidence of fair value, or VSOE, of PCS. Accordingly, revenue for the subscription-based software licenses and PCS is recognized ratably beginning on the date the license is first made available to the customer and continuing through the end of the subscription term. We also recognize revenue from the sale of a hosted version of our platform which is delivered pursuant to a hosting arrangement. Revenue from hosted services is recognized ratably beginning on the date the services are first made available to the customer and continuing through the end of the contractual service term. Hosted revenue arrangements are outside the scope of ASC 986-605 software revenue recognition guidance as customers do not have the right to take possession of the software code underlying our hosted solutions. Our arrangements may include the resale of third-party syndicated data content pursuant to subscription arrangements, and professional services. Data subscriptions provide the customer the right to receive data that is updated periodically over the term of the license agreement, and revenue is recognized ratably over the contract period once the customer has access to the data. We recognize revenue from the resale of third-party syndicated data on a gross basis when (i) we are the primary obligor, (ii) we have latitude to establish the price charged, and (iii) we bear credit risk in the transaction. Revenue from professional services, which is comprised primarily of training and consulting services, is recognized as the services are provided. Multiple Element Arrangements We enter into multiple element revenue arrangements in which a customer may purchase a combination of software, data, and services. For multiple element arrangements that contain only software and software-related elements, revenue is allocated and deferred for the undelivered elements based on their VSOE. In situations where VSOE exists for all elements (delivered and undelivered), the revenue to be earned under the arrangement among the various elements is allocated based on their relative fair value. For arrangements where VSOE exists only for the undelivered elements, the full fair value of the undelivered elements is deferred and the difference between the total arrangement fee and the amount deferred for the undelivered items is recognized as revenue. If VSOE does not exist for an undelivered service element, the revenue from the entire arrangement is recognized over the service period, once all services have commenced. Changes in assumptions or judgments or changes to the elements in a software arrangement could cause a material increase or decrease in the amount of revenue recognized in a particular period. VSOE is determined for each element, or a group of elements sold on a combined basis, such as our software and PCS, based on historical standalone sales to third parties or the price to be charged when the product or service, or group of products or services, is available. In determining VSOE, a substantial majority of the selling price for a product or service must fall within a reasonably narrow pricing range. Revenue related to the delivered products or services is recognized only if (i) the above revenue recognition criteria are met, (ii) any undelivered products or services are not essential to the functionality of the delivered products and services, (iii) payment for the delivered products or services is not contingent upon delivery of the remaining products or services, and (iv) there is an enforceable claim to receive the amount due in the event that the undelivered products or services are not delivered. For multiple-element arrangements that contain both software and non-software elements, revenue is allocated on a relative fair value basis to software or software-related elements as a group and any non-software elements separately based on the selling price hierarchy. The selling price for each deliverable is determined using VSOE of selling price, if it exists, or third-party evidence of fair value, or TPE. If neither VSOE nor TPE exist for a deliverable, best estimate of selling price, or BESP, is used. Once revenue is allocated to software or software-related elements as a group, revenue is recognized in accordance with software revenue accounting guidance. Revenue allocated to non-software elements is recognized in accordance with SEC Staff Accounting Bulletin Topic 13, Revenue Recognition . Revenue is recognized when revenue recognition criteria are met for each element. Judgment is required to determine VSOE or BESP. For VSOE, we consider multiple factors including, but not limited to, product types, geographies, sales channels, and customer sizes and, for BESP, we also consider market conditions, competitive landscape, internal costs, gross margin objectives, and pricing practices. Pricing practices taken into consideration include historic contractually stated prices, volume discounts, where applicable, and price lists. BESP is generally used for offerings that are not typically sold on a standalone basis or when the selling prices for a product or service do not fall within a reasonably narrow pricing range. Revenue generated from sales arrangements through distributors is recognized in accordance with our revenue recognition policies as described above at the amount invoiced to the distributor. We recognize revenue at the net amount invoiced to the distributor, as opposed to the gross amount the distributor invoices their end customer, as we have determined that (i) we are not the primary obligor in these arrangements, (ii) we do not have latitude to establish the price charged to the end-customer, and (iii) we do not bear credit risk in the transaction with the end-customer. Deferred Revenue Deferred revenue includes amounts collected or billed in excess of revenue recognized. We recognize such amounts as revenue over the life of the contract upon meeting the revenue recognition criteria. Deferred revenue that will be recognized during the succeeding 12-month period is recorded as current deferred revenue and the remaining portion is recorded as non-current deferred revenue in our consolidated balance sheet, as adjusted for ASC 606 effective January 1, 2018. Cost of Revenue Cost of revenue is accounted for in accordance with ASC 705, Cost of Sales and Services , and consists of employee-related costs, including salaries and bonuses, stock-based compensation expense, and employee benefit costs associated with our customer support and professional services organizations, expenses related to hosting and operating our cloud infrastructure in a third-party data center, licenses of third-party syndicated data, amortization of acquired completed technology intangible assets, and related overhead expenses. Out-of-pocket travel costs related to the delivery of professional services are typically reimbursed by the customers and are accounted for as both revenue and cost of revenue in the period in which the cost is incurred. We record an asset for the incremental costs of obtaining a contract with a customer, including, for example, sales commissions and partner referral fees that are earned upon execution of contracts. We pay commissions for new product sales as well as for renewals of existing contracts, and partner referral fees only for new product sales. For customer contracts in which the commissions paid on new business and renewals are commensurate, we generally amortize these costs over the contractual term of the contract, consistent with the pattern of revenue recognition for each performance obligation. For customer contracts in which the commissions paid on new business and renewals are not commensurate and for partner referral fees, we amortize the costs on new business over an expected period of benefit, which we have determined to be approximately four years. The expected period of benefit was determined by taking into consideration our customer contracts, the duration of our relationships with our customers and the useful life of our technology. In capitalizing and amortizing deferred commissions and partner referral fees, we have elected to apply a portfolio approach. We include amortization of deferred commissions and partner referral fees in sales and marketing expense in our consolidated statements of operations. We pay royalties associated with licensed third-party syndicated data sold with our platform and we recognize royalty expense to cost of revenue when incurred. |
Property and Equipment | Property and equipment are stated at historical cost, less accumulated depreciation and amortization. Depreciation of property and equipment is calculated using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or lease terms. Useful lives by asset category are as follows: Computer equipment 3 years Furniture and fixtures 3 to 7 years Leasehold improvement Shorter of useful life or lease term Repairs and maintenance costs are charged to expense as incurred. Upon the sale or retirement of property and equipment, the cost and the related accumulated depreciation or amortization are removed from the accounts, with any resulting gain or loss included in our consolidated statements of operations and comprehensive income (loss). |
Intangible Assets | Intangible assets consist primarily of acquired developed technology. We determine the appropriate useful life of our intangible assets by performing an analysis of expected cash flows of the acquired assets. Intangible assets are amortized over their estimated useful lives of two to eight years, using the straight-line method, which approximates the pattern in which the economic benefits are consumed. |
Impairment of Long-Lived Assets | We review our long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of such assets may not be fully recoverable. Recoverability of these assets is determined by comparing the forecasted undiscounted cash flows attributable to such assets to their carrying value. If the carrying value of the assets exceeds the forecasted undiscounted cash flows, then the assets are written down to their fair value. Fair value is determined based on discounted cash flows or appraised values, depending upon the nature of the assets. |
Business Combinations | The results of businesses acquired in a business combination are included in our consolidated financial statements from the date of the acquisition. We allocated the purchase price, including the fair value of any non-cash and contingent consideration, to the identifiable assets and liabilities of the relevant acquired business at their acquisition date fair values. Any excess consideration over the fair value of assets acquired and liabilities assumed is recognized as goodwill. Contingent consideration payable in cash or a fixed dollar amount settleable in a variable number of shares is classified as a liability and recorded at fair value, with changes in fair value recorded in general and administrative expenses each period. Transaction costs associated with business combinations are expensed as incurred, and are included in general and administrative expense in the consolidated statements of operations and comprehensive income (loss). We perform valuations of assets acquired, liabilities assumed, and contingent consideration and allocate the purchase price to its respective assets and liabilities. Determining the fair value of assets acquired, liabilities assumed, and contingent consideration requires us to use significant judgment and estimates including the selection of valuation methodologies, estimates of future revenue, costs and cash flows, discount rates, the probability of the achievement of specified milestones, and selection of comparable companies. We engage the assistance of valuation specialists in concluding on fair value measurements in connection with determining fair values of assets acquired, liabilities assumed, and contingent consideration in a business combination. |
Goodwill | Goodwill represents the excess of the purchase price over the fair value of net assets acquired in a business combination. We test goodwill for impairment in accordance with the provisions of ASC 350, Intangibles – Goodwill and Other, ASC 350. Goodwill is tested for impairment at least annually at the reporting unit level or whenever events or changes in circumstances indicate that goodwill might be impaired. Events or changes in circumstances which could trigger an impairment review include a significant adverse change in legal factors or in the business climate, unanticipated competition, loss of key personnel, significant changes in the use of the acquired assets or our strategy, significant negative industry or economic trends, or significant underperformance relative to expected historical or projected future results of operations. ASC 350 provides that an entity has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, an entity determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then additional impairment testing is not required. However, if an entity concludes otherwise, then it is required to perform an impairment test. The impairment test involves comparing the estimated fair value of a reporting unit with its book value, including goodwill. If the estimated fair value exceeds book value, goodwill is considered not to be impaired. If, however, the fair value of the reporting unit is less than book value, then an impairment loss is recognized in an amount equal to the amount that the book value of the reporting unit exceeds its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. We have one reporting unit and we test for goodwill impairment annually during the fourth quarter of each calendar year. |
Research and Development | Research and development expense consists primarily of employee-related costs, including salaries and bonuses, stock-based compensation expense, and employee benefits costs, depreciation of equipment used in research and development for our research and development employees, third-party contractor costs, and related allocated overhead costs. Product development expenses, other than software development costs qualifying for capitalization, are expensed as incurred. |
Software Development Costs | We account for costs to develop or obtain internal-use software in accordance with ASC 350-40, Internal-Use Software, or ASC 350-40. We also account for costs of significant upgrades and enhancements resulting in additional functionality under ASC 350-40. These costs are primarily software purchased for internal-use, purchased software licenses, implementation costs, and development costs related to our hosted product which is accessed by customers on a subscription basis. Costs incurred for maintenance, training, and minor modifications or enhancements are expensed as incurred. Internal-use software is amortized on a straight-line basis over its estimated useful life, which is generally three years. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. Costs incurred in the development of new software products and enhancements to existing software products to be accounted for under software revenue recognition guidance are accounted for in accordance with ASC 985-20, Costs of Software to be Sold, Leased, or Marketed, or ASC 985-20. These costs, consisting primarily of salaries and related payroll costs, are expensed as incurred until technological feasibility has been established. After technological feasibility is established, costs are capitalized in accordance with ASC 985-20. |
Advertising Costs | Advertising costs are expensed as incurred. We incurred advertising costs of approximately $9.1 million , $5.5 million , and $5.0 million for the years ended December 31, 2018 , 2017 , and 2016 , respectively. Such costs primarily relate to our annual customer conferences, online and print advertising as well as sponsorship of public marketing events, and are reflected in sales and marketing expense in our consolidated statements of operations and comprehensive income (loss). |
Stock-Based Compensation | We recognize stock-based compensation expense in accordance with the provisions of ASC 718, Compensation—Stock Compensation, or ASC 718. ASC 718 requires the measurement and recognition of compensation expense for all stock-based payment awards made to employees and directors based on the grant date fair values of the awards. We use the Black-Scholes option-pricing method for valuing stock options and shares granted under the employee stock purchase plan. Restricted stock units, or RSUs, are valued based on the fair value of our common stock on the date of grant, less our expected dividend yield. For awards that vest solely based on continued service the fair value of an award is recognized as an expense over the requisite service period on a straight-line basis. For awards that contain performance conditions, the fair value of an award is recognized based on the probability of the performance condition being met using the graded vesting method. Stock-based compensation expense is included in cost of revenue and operating expenses within our consolidated statements of operations and comprehensive income (loss) based on the classification of the individual earning the award. The determination of the grant date fair value of stock-based awards is affected by the estimated fair value per share of our common stock as well as other highly subjective assumptions, including, but not limited to, the expected term of the stock-based awards, expected stock price volatility, risk-free interest rates, and expected dividends yields, which are estimated as follows: • Fair value per share of our common stock . Prior to our initial public offering, in March 2017, given the absence of an active market for our common stock, our board of directors determined the fair value of our common stock at the time of grant for each stock-based award based upon several factors, including consideration of input from management and contemporaneous third-party valuations. The fair value of our common stock was determined in accordance with applicable elements of the practice aid issued by the American Institute of Certified Public Accountants, Valuation of Privately Held Company Equity Securities Issued as Compensation. Each fair value estimated was based on a variety of factors, including the prices, rights, preferences and privileges of our preferred stock relative to those of our common stock, pricing and timing of transactions in our equity, the lack of marketability of our common stock, our actual operating and financial performance, developments and milestones in our company, the market performance of comparable publicly traded companies, the likelihood of achieving a liquidity event, and U.S. and global capital market conditions, among other factors. Subsequent to our initial public offering, the fair value of our common stock is based on the closing price of our Class A common stock, as reported on the New York Stock Exchange, on the date of grant. • Expected term . We determine the expected term of the awards using the simplified method, which estimates the expected term based on the average of the vesting period and contractual term of the stock option. • Expected volatility . We estimate the expected volatility based on the volatility of similar publicly held entities (referred to as “guideline companies”) over a period equivalent to the expected term of the awards. In evaluating the similarity of guideline companies to us, we considered factors such as industry, stage of life cycle, size, and financial leverage. We intend to continue to consistently apply this process using the same or similar guideline companies to estimate the expected volatility until sufficient historical information regarding the volatility of the share price of our common stock becomes available. • Risk-free interest rate . The risk-free interest rate used to value our stock-based awards is based on the U.S. Treasury yield in effect at the time of grant for a period consistent with the expected term of the award. • Estimated dividend yield . The expected dividend was assumed to be zero as we have never declared or paid any cash dividends and do not currently intend to declare dividends in the foreseeable future. In addition, prior to 2018, we were required to estimate at the time of grant the expected forfeiture rate and only recognize expense for those stock-based awards expected to vest. Our estimated forfeiture rate was based on our estimate of pre-vesting award forfeitures. As a result of our adoption of Accounting Standards Update, or ASU, 2016-09 effective January 1, 2018, we now account for forfeitures as they occur rather than estimating a forfeiture rate at the time of grant. The assumptions used in calculating the fair value of stock-based awards represent our best estimates, but these estimates involve inherent uncertainties and the application of judgment. As a result, if factors change or we use different assumptions, stock-based compensation expense could be materially different in the future. |
Foreign Currency Remeasurement and Transactions | The functional currency of our wholly owned subsidiaries is the currency of the primary economic environment in which the entity operates. Assets and liabilities denominated in currencies other than the functional currency are remeasured using the current exchange rate for monetary accounts and historical exchange rates for nonmonetary accounts, with exchange differences on remeasurement included in other expense in our consolidated statements of operations and comprehensive income (loss). Our foreign subsidiaries that utilize foreign currency as their functional currency translate such currency into U.S. dollars using (i) the exchange rate on the balance sheet dates for assets and liabilities, (ii) the average exchange rates prevailing during the period for revenues and expenses, and (iii) historical exchange rates for equity. Any translation adjustments resulting from this process are shown separately as a component of accumulated other comprehensive income (loss) within stockholder’s equity (deficit) in the consolidated balance sheets. Transactions denominated in currencies other than the U.S. dollar may result in transaction gains or losses at the end of the period and when the related receivable or payable is settled, which are recorded in other income (expense), net. |
Income Taxes | We apply the provisions of ASC 740, Income Taxes, or ASC 740. Under ASC 740, we account for our income taxes using the asset and liability method whereby deferred tax assets and liabilities are determined based on temporary differences between the bases used for financial reporting and income tax reporting purposes. Deferred income taxes are provided based on the enacted tax rates and laws that will be in effect at the time such temporary differences are expected to reverse. A valuation allowance is provided for deferred tax assets if it is more likely than not that we will not realize those tax assets through future operations. We also utilize the guidance in ASC 740 to account for uncertain tax positions. ASC 740 contains a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount which is more likely than not to be realized and effectively settled. We consider many factors when evaluating and estimating our tax positions and tax benefits, which may require periodic adjustments and which may not accurately reflect actual outcomes. We recognize interest and penalties on unrecognized tax benefits as a component of income tax expense in our consolidated statements of operations and comprehensive income (loss). |
Net Income (Loss) Per Share Attributable to Common Stockholders | In periods in which we have net income, and a contingent event has been met, we apply the two-class method for calculating earnings per share. Under the two-class method, net income is attributed to common stockholders and participating securities based on their participation rights. Participating securities include convertible preferred stock and our senior convertible notes. In periods in which we have net losses after accretion of convertible preferred stock, we do not attribute losses to participating securities as they are not contractually obligated to share our losses. Under the two-class method, basic net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Net income (loss) attributable to common stockholders is calculated as net income (loss) including current period convertible preferred stock accretion. Diluted earnings per share attributable to common stockholders adjusts basic earnings per share for the potentially dilutive impact of stock options and convertible preferred stock. In periods in which we incurred a net loss, all potentially dilutive securities are antidilutive and accordingly, basic net loss per share equals diluted net loss per share. |
Recent Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements | In January 2017, the Financial Accounting Standards Board, or FASB, issued ASU 2017-04, Simplifying the Test for Goodwill Impairment , or ASU 2017-04, which simplifies the subsequent measurement of goodwill by removing the requirement to perform a hypothetical purchase price allocation to compute the implied fair value of goodwill to measure impairment. Instead, any goodwill impairment will equal the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. Further, the guidance eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. As permitted by ASU 2017-04, we have elected to early adopt this guidance for our 2018 goodwill impairment test, which was performed during the fourth quarter of 2018. The adoption of this guidance did not have a material impact on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Clarifying the Definition of a Business, which narrows the application of when an integrated set of assets and activities is considered a business and provides a framework to assist entities in evaluating whether both an input and a substantive process are present to be considered a business. It is expected that the new guidance will reduce the number of transactions that would need to be further evaluated and accounted for as a business. We adopted this guidance for our annual reporting period for the year ended December 31, 2018. The adoption of this guidance did not have a material impact on our consolidated financial statements. In November 2016, the FASB issued ASU 2016-18, Restricted Cash , which requires that restricted cash be included with cash and cash equivalents when reconciling the beginning and ending total amounts shown on the statement of cash flows. We adopted this guidance for the year ended December 31, 2018 using a retrospective transition method for each period presented. We previously presented changes in restricted cash within investing activities. Accordingly, the adoption of this guidance resulted in changes in net cash flows from investing activities and to certain beginning and ending cash and cash equivalent totals shown on our consolidated statement of cash flows. In October 2016, the FASB issued ASU 2016-16, Intra-Entity Transfers of Assets Other Than Inventory, or ASU 2016-16. This guidance removes the prohibition in ASC 740, against the immediate recognition of the current and deferred income tax effects of intra-entity transfers of assets other than inventory. This guidance is intended to reduce the complexity of U.S. GAAP and diversity in practice related to the tax consequences of certain types of intra-entity asset transfers, particularly those involving intellectual property. The impact of adopting ASU 2016-16 is recorded using the modified retrospective transition basis through a cumulative-effect adjustment to accumulated deficit as of the beginning of the period of adoption. We early adopted ASU 2016-16 effective January 1, 2018, resulting in the elimination of $1.4 million of deferred tax charges included in other assets in our consolidated balance sheet at January 1, 2018. We recorded the elimination of the deferred charge to accumulated deficit as of January 1, 2018. In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments , which addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice, including presentation of cash flows relating to contingent consideration payments, proceeds from the settlement of insurance claims, and debt prepayment or debt extinguishment costs, among other matters. We adopted this guidance retrospectively for the year ended December 31, 2018. The adoption of this guidance did not have a material impact on our consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , or ASU 2016-09, which simplifies several aspects of the accounting for share-based payment transactions and related tax impacts, the classification of excess tax benefits on the statement of cash flows, statutory tax withholding requirements, and other stock-based compensation classification matters. We adopted ASU 2016-9 effective January 1, 2018, and elected the modified retrospective transition method. Accordingly, we recognized a benefit, recorded as a cumulative effect adjustment to accumulated deficit at January 1, 2018 of $ 2.4 million related to previously unrecognized excess tax benefits from the settlement of domestic stock awards. Immediately prior to adoption, we had no unrecognized excess tax benefits related to stock awards in jurisdictions outside the United States. All future excess tax benefits and deferred tax deficiencies from the settlement of stock awards will be recorded to income tax expense. Additionally, upon adoption, we changed our accounting policy to account for forfeitures when they occur rather than estimate a forfeiture rate, the result of which was recorded using the modified retrospective transition basis through a cumulative-effect adjustment to accumulated deficit and additional paid-in-capital of $ 0.1 million as of January 1, 2018. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, or ASU 2014-09. This guidance replaces most existing revenue recognition guidance. It provides principles for recognizing revenue for the transfer of promised goods or services to customers with the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB issued ASU 2015-14, which deferred the effective date of ASU 2014-09 by one year. During 2016 and 2017, the FASB continued to issue additional amendments to this new revenue guidance. We adopted the new revenue recognition accounting standard, ASC 606, effective January 1, 2018. The new revenue recognition standard changed the way we recognize revenue, including the identification of contractual performance obligations and the allocation of transaction price, to depict the transfer of promised goods or services to customers at the amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. We adopted the new revenue recognition standard on a modified retrospective basis and applied the new revenue recognition standard only to contracts that were not completed contracts prior to January 1, 2018. Upon adoption, we recorded an adjustment of $65.4 million to our accumulated deficit. The adjustment was offset by a $55.6 million reduction to deferred revenue, the addition of a $17.2 million contract asset, primarily related to our on-premises subscription license agreements, and an increase to our deferred tax liabilities of $7.4 million . The new revenue recognition standard materially impacts the timing of revenue recognition related to our on-premises subscription license agreements. Prior to our adoption of the new revenue recognition standard, we historically recognized revenue related to our on-premises subscription license agreements ratably over the term of the licensing agreement. Under the new revenue recognition standard, revenue allocable to the license portion of the arrangement is recognized at a point in time when the platform is first made available to the customer, or the beginning of the subscription term, if later. Post-contract service revenue, or PCS, related to on-premises subscription agreements, hosted services and support and subscriptions to third-party syndicated data continue to be recognized ratably over the term of the licensing agreement. Under the new revenue recognition standard, we allocate total transaction price to performance obligations based on SSP, which impacts the timing of revenue recognition depending on when each performance obligation is recognized. These changes to the timing of revenue recognition also affect our deferred revenue balances. The new revenue recognition standard requires the capitalization of certain incremental costs of obtaining a contract, which impacts the period in which we record our sales commissions expense. Prior to our adoption of the new revenue recognition standard, we capitalized sales commissions expense and amortized the expense over the contract term. Under the new revenue recognition standard, for commissions paid on customer contracts in which the commissions paid on new business and renewals are not commensurate, we amortize the commissions paid on new business over an expected period of benefit, which will generally be longer than then contract term. Upon adoption of the new revenue recognition standard, we increased our accumulated deficit by $1.2 million and reduced our asset for deferred sales commissions related to contracts that were not completed contracts prior to January 1, 2018. For further discussion regarding the impacts of adopting the new revenue recognition standard, see Note 3, Revenue , of these notes to our consolidated financial statements. Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU 2018-15, 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 costs incurred to develop or obtain internal-use software. This guidance will be effective for us for annual reporting periods beginning after December 15, 2019 and for interim periods within those annual periods, and can be applied either retrospectively or prospectively to all implementation costs after the date of adoption. Early adoption is permitted. We are evaluating the potential impact of this guidance on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases, or ASU 2016-02, creating Topic 842, which requires lessees to record the assets and liabilities arising from all leases in the statement of financial position. Under ASU 2016-02, lessees will recognize a liability for lease payments and a right-of-use asset. When measuring assets and liabilities, a lessee should include amounts related to option terms, such as the option of extending or terminating the lease or purchasing the underlying asset, that are reasonably certain to be exercised. For leases with a term of 12 months or less, lessees are permitted to make an accounting policy election to not recognize lease assets and liabilities. This guidance retains the distinction between finance leases and operating leases and the classification criteria remains similar. For financing leases, a lessee will recognize the interest on a lease liability separate from amortization of the right-of-use asset. In addition, repayments of principal will be presented within financing activities, and interest payments will be presented within operating activities in the statement of cash flows. For operating leases, a lessee will recognize a single lease cost on a straight-line basis and classify all cash payments within operating activities in the statement of cash flows. This guidance will be effective for us for annual reporting periods beginning after December 15, 2018, including interim periods within those annual periods, and is required to be applied using a modified retrospective approach with an option to recognize the cumulative effect of applying the new standard as an adjustment to the opening balance of accumulated deficit on the date of adoption. Early adoption is permitted. Based on our evaluation, our leases primarily consist of operating leases related to office space. We are in the process of completing our evaluation and refining the potential impact of this guidance on our consolidated financial statements. We expect that this guidance will have a material impact to our consolidated balance sheets as a result of the recognition of right-of-use assets and lease liabilities for our operating leases, but is not expected to have a material impact to our consolidated statements of operations and comprehensive income (loss). |
Significant Accounting Polici_3
Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Schedule of Useful Lives of Assets | Useful lives by asset category are as follows: Computer equipment 3 years Furniture and fixtures 3 to 7 years Leasehold improvement Shorter of useful life or lease term Property and equipment, net consisted of the following (in thousands): Year Ended December 31, 2018 2017 Computer equipment & software $ 8,909 $ 5,852 Furniture and fixtures 3,685 1,812 Leasehold improvements 5,398 2,229 Construction in process 834 1,493 $ 18,826 $ 11,386 Less: Accumulated depreciation and amortization (7,097 ) (3,894 ) Total property and equipment, net $ 11,729 $ 7,492 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Impacts of Adoption of 606 | The following table summarizes the impacts from the adoption of the new revenue recognition standard on our consolidated statements of operations for the year December 31, 2018 (in thousands): Year Ended December 31, 2018 2017 As Reported Impacts from Adoption Without Adoption As Reported Revenue(1) $ 253,570 $ 49,266 $ 204,304 $ 131,607 Cost of revenue 22,800 — 22,800 21,803 Gross profit 230,770 49,266 181,504 109,804 Operating expenses: Research and development 43,449 — 43,449 29,342 Sales and marketing 109,284 (1,943 ) 111,227 66,420 General and administrative 48,267 — 48,267 32,241 Total operating expenses 201,000 (1,943 ) 202,943 128,003 Income (loss) from operations 29,770 51,209 (21,439 ) (18,199 ) Interest expense (7,378 ) — (7,378 ) — Other income (expense), net 3,042 160 2,882 (205 ) Income (loss) before provision for (benefit of) income taxes 25,434 51,369 (25,935 ) (18,404 ) Provision for (benefit of) income taxes(1) (2,586 ) 5,497 (8,083 ) (905 ) Net income (loss) $ 28,020 $ 45,872 $ (17,852 ) $ (17,499 ) Less: Accretion of Series A redeemable convertible preferred stock $ — $ — $ — $ (1,983 ) Net income (loss) attributable to common stockholders $ 28,020 $ 45,872 $ (17,852 ) $ (19,482 ) Net income (loss) per share attributable to common stockholders, basic $ 0.46 $ 0.75 $ (0.29 ) $ (0.37 ) Net income (loss) per share attributable to common stockholders, diluted $ 0.43 $ 0.72 $ (0.29 ) $ (0.37 ) (1) The increase in revenue, and resulting decrease in benefit of income taxes, is due to the change in timing of when we recognize revenue under ASC 606. Consolidated Balance Sheets - Reconciliation of the Impacts from the Adoption of the New Revenue Recognition Standard The following table summarizes the impacts from the adoption of the new revenue recognition standard on our consolidated balance sheets as of December 31, 2018 (in thousands): Year Ended December 31, 2018 2017 As Reported Impacts from Adoption Without Adoption As Reported Assets Current assets: Cash and cash equivalents $ 89,974 $ — $ 89,974 $ 119,716 Short-term investments 239,718 — 239,718 54,386 Accounts receivable, net of allowance for doubtful accounts and sales reserves 94,922 (163 ) 95,085 49,797 Deferred commissions (1) 10,353 (11,474 ) 21,827 11,213 Prepaid expenses and other current assets (2) 26,846 10,991 15,855 7,227 Total current assets 461,813 (646 ) 462,459 242,339 Property and equipment, net 11,729 — 11,729 7,492 Long-term investments 96,551 — 96,551 19,964 Goodwill 9,494 (129 ) 9,623 8,750 Intangible assets, net (3) 7,491 (1,477 ) 8,968 7,995 Long-term deferred commissions (1) 12,038 12,038 — — Other assets (2) 18,982 16,480 2,502 4,263 Deferred incomes taxes, net 69 (764 ) 833 613 Total assets $ 618,167 $ 25,502 $ 592,665 $ 291,416 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 5,028 $ — $ 5,028 $ 522 Accrued payroll and payroll related liabilities 24,659 — 24,659 11,835 Accrued expenses and other current liabilities 10,878 297 10,581 8,270 Deferred revenue (2) 84,015 (95,326 ) 179,341 110,213 Total current liabilities 124,580 (95,029 ) 219,609 130,840 Convertible senior notes, net 173,647 — 173,647 — Deferred revenue (2) 2,130 (1,383 ) 3,513 3,545 Other liabilities 4,345 214 4,131 3,313 Deferred income tax, net (2) 11,647 11,647 — 214 Total liabilities 316,349 (84,551 ) 400,900 137,912 Stockholders’ equity: Preferred stock — — — — Common stock 6 — 6 5 Additional paid-in capital 315,291 — 315,291 257,399 Accumulated deficit (12,908 ) 110,069 (122,977 ) (103,546 ) Accumulated other comprehensive loss (571 ) (16 ) (555 ) (354 ) Total stockholders’ equity 301,818 110,053 191,765 153,504 Total liabilities and stockholders’ equity $ 618,167 $ 25,502 $ 592,665 $ 291,416 (1) The decrease in deferred commissions and increase in long-term commissions is due to the change in the period over which we amortize our deferred sales commissions. (2) The increase in prepaid expenses and other current assets and other assets, and the decrease in deferred revenue is due to the change in timing of when we recognize revenue under ASC 606. (3) The decrease in intangible assets, net and goodwill is due to the change in the valuation of certain assets acquired in the acquisition of ANZ in February 2018. See further discussion in Note 4, Business Combinations. |
Disaggregation of Revenue | The disaggregation of revenue by region, type of performance obligation, and timing of revenue recognition was as follows (in thousands): Year Ended December 31, Revenue by type region: 2018 2017 2016 United States $ 178,774 $ 101,932 $ 69,420 International 74,796 29,675 16,370 Total $ 253,570 $ 131,607 $ 85,790 Revenue by type of performance obligation: Subscription-based software license $ 124,669 * * PCS and services 128,901 * * Total $ 253,570 $ 131,607 $ 85,790 Costs by type of performance obligation: Subscription-based software license $ 1,505 * * PCS and services 21,295 * * Total $ 22,800 $ 21,803 $ 16,026 * We adopted ASC 606 under the modified retrospective method, and therefore we did not retrospectively apply the guidance to the years ended December 31, 2017 and December 31, 2016. As a result, this information is not available for prior periods. |
Contract Assets and Contract Liabilities | We amortize these deferred costs proportionate with related revenues over the benefit period. A summary of the activity impacting our deferred contract costs during the year ended December 31, 2018 is presented below (in thousands): Balances at December 31, 2017 $ 11,213 Adoption of ASC 606 (1,154 ) Additional contract costs deferred 30,828 Amortization of deferred contract costs (18,496 ) Balances at December 31, 2018 $ 22,391 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Summary of Cash and Cash Equivalents and Investments' Costs, Gross Unrealized Gains (Losses), and Fair Value by Major Security Type Recorded as Cash and Cash Equivalents or Short-Term or Long-Term Investments | The following tables present our cash and cash equivalents and investments’ costs, gross unrealized gains (losses), and fair value by major security type recorded as cash and cash equivalents or short-term or long-term investments as of December 31, 2018 and December 31, 2017 (in thousands): As of December 31, 2018 Cost Gross Fair Value Cash and Short-term Long-term Cash $ 78,194 $ — $ 78,194 $ 78,194 $ — $ — Level 1: Money market funds 11,780 — 11,780 11,780 — — Subtotal 11,780 — 11,780 11,780 — — Level 2: Commercial paper 1,313 — 1,313 — 1,313 — Certificates of deposit 6,101 — 6,101 — 5,351 750 U.S. Treasury and agency bonds 220,135 (139 ) 219,996 — 158,204 61,792 Corporate bonds 108,968 (110 ) 108,858 — 74,850 34,008 Subtotal 336,517 (249 ) 336,268 — 239,718 96,550 Level 3 — — — — — — Total $ 426,491 $ (249 ) $ 426,242 $ 89,974 $ 239,718 $ 96,550 As of December 31, 2017 Cost Gross Fair Value Cash and Short-term Long-term Cash $ 100,651 $ — $ 100,651 $ 100,651 $ — $ — Level 1: Money market funds 19,065 — 19,065 19,065 — — Subtotal 19,065 — 19,065 19,065 — — Level 2: U.S. Treasury and agency bonds 44,968 (176 ) 44,792 — 25,923 18,869 Corporate bonds 29,608 (50 ) 29,558 — 28,463 1,095 Subtotal 74,576 (226 ) 74,350 — 54,386 19,964 Level 3 — — — — — — Total $ 194,292 $ (226 ) $ 194,066 $ 119,716 $ 54,386 $ 19,964 |
Reconciliation of Beginning and Ending Balances of Acquisition-Related Accrued Contingent Consideration | The following table presents a reconciliation of the beginning and ending balances of acquisition-related accrued contingent consideration using significant unobservable inputs (Level 3) (in thousands): Year Ended December 31, 2018 2017 Beginning balance $ 975 $ — Obligations assumed 1,200 1,160 Change in fair value 624 190 Settlement (656 ) (375 ) Ending balance $ 2,143 $ 975 |
Allowance for Doubtful Accoun_2
Allowance for Doubtful Accounts (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Summary of Changes in the Allowance for Doubtful Accounts | The following table summarizes the changes in the allowance for doubtful accounts included in accounts receivable in our consolidated balance sheets (in thousands): Year Ended December 31, 2018 2017 2016 Beginning balance $ 1,455 $ 670 $ 280 Charge-offs (884 ) (337 ) (97 ) Recoveries (693 ) (783 ) (283 ) Provision 1,961 1,905 770 Ending balance $ 1,839 $ 1,455 $ 670 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Property and equipment, net | Useful lives by asset category are as follows: Computer equipment 3 years Furniture and fixtures 3 to 7 years Leasehold improvement Shorter of useful life or lease term Property and equipment, net consisted of the following (in thousands): Year Ended December 31, 2018 2017 Computer equipment & software $ 8,909 $ 5,852 Furniture and fixtures 3,685 1,812 Leasehold improvements 5,398 2,229 Construction in process 834 1,493 $ 18,826 $ 11,386 Less: Accumulated depreciation and amortization (7,097 ) (3,894 ) Total property and equipment, net $ 11,729 $ 7,492 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Change in Carrying Amount of Goodwill | The change in carrying amount of goodwill for the year ended December 31, 2018 was as follows (in thousands): Goodwill at December 31, 2016 $ — Goodwill recorded in connection with acquisition 8,724 Effects of foreign currency translation 26 Goodwill as of December 31, 2017 $ 8,750 Goodwill recorded in connection with acquisition 854 Effects of foreign currency translation (110 ) Goodwill as of December 31, 2018 $ 9,494 |
Schedule of Intangible Assets | Intangible assets consisted of the following (in thousands, except years): As of December 31, 2018 Weighted Average Gross Carrying Accumulated Net Carrying Customer Relationships 6.9 $ 1,554 $ (221 ) $ 1,333 Completed Technology 5.7 9,180 (3,022 ) 6,158 $ 10,734 $ (3,243 ) $ 7,491 As of December 31, 2017 Weighted Average Gross Carrying Accumulated Net Carrying Customer Relationships 2.0 $ 40 $ (12 ) $ 28 Completed Technology 5.7 9,180 (1,213 ) 7,967 $ 9,220 $ (1,225 ) $ 7,995 |
Schedule of Intangible Asset Amortization Expense | We classified intangible asset amortization expense in the accompanying consolidated statements of operations and comprehensive income (loss) as follows (in thousands): Year Ended December 31, 2018 2017 2016 Cost of revenue $ 1,809 $ 1,213 $ — Sales and marketing 220 12 — Total $ 2,029 $ 1,225 $ — |
Schedule of Finite-Lived Intangible Assets Estimated Remaining Amortization Expense | The following table presents our estimates of remaining amortization expense for each of the five succeeding fiscal years and thereafter for finite-lived intangible assets at December 31, 2018 (in thousands): 2019 $ 2,033 2020 1,719 2021 1,509 2022 963 2023 603 Thereafter 664 Total amortization expense $ 7,491 |
Convertible Senior Notes (Table
Convertible Senior Notes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Convertible Debt | The convertible senior notes consisted of the following (in thousands): As of December 31, 2018 Liability: Principal $ 230,000 Less: debt discount, net of amortization (56,353 ) Net carrying amount $ 173,647 Equity, net of issuance costs $ 57,251 |
Schedule of Convertible Senior Notes | The following table sets forth interest expense recognized related to the convertible senior notes (in thousands, except effective interest rate): Year Ended December 31, 2018 Contractual interest expense $ 712 Amortization of debt issuance costs and discount 6,652 Total $ 7,364 Effective interest rate of the liability component 7.00 % |
Equity Awards (Tables)
Equity Awards (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Stock Option Activity | Stock option activity, excluding activity related to the ESPP, during the year ended December 31, 2018 consisted of the following (in thousands, except weighted-average information): Options Weighted- Aggregate Intrinsic Value Weighted-Average Remaining Contractual Term (Years) Options outstanding at December 31, 2017 5,196 $ 8.70 $ 86,108 7.8 Granted 672 28.26 Exercised (1,632 ) 6.85 $ 56,943 Cancelled/forfeited (187 ) 13.29 Options outstanding at December 31, 2018 4,049 $ 12.48 $ 190,277 7.2 Exercisable 2,363 $ 6.96 $ 124,068 6.3 Vested and expected to vest 4,049 $ 12.48 $ 190,277 7.2 |
Schedule of Weighted-average Assumption Used for Stock Options | The following table presents the weighted-average assumptions used for stock options granted for each of the years indicated: Stock Options Employee Stock Purchase Plan 2018 2017 2016 2018 2017 2016 Expected term (in years) 6.1 6.1 6.0 0.5 0.4 — Estimated volatility 41 % 42 % 41 % 52 % 29 % — Risk-free interest rate 2 % 2 % 2 % 2 % 1 % — Estimated dividend yield — — — — — — Weighted average fair value $ 12.09 $ 7.53 $ 4.47 $ 12.13 $ 4.02 $ — |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions | The following table presents the weighted-average assumptions used for stock options granted for each of the years indicated: Stock Options Employee Stock Purchase Plan 2018 2017 2016 2018 2017 2016 Expected term (in years) 6.1 6.1 6.0 0.5 0.4 — Estimated volatility 41 % 42 % 41 % 52 % 29 % — Risk-free interest rate 2 % 2 % 2 % 2 % 1 % — Estimated dividend yield — — — — — — Weighted average fair value $ 12.09 $ 7.53 $ 4.47 $ 12.13 $ 4.02 $ — |
Schedule of RSU Activity | RSU activity during the year ended December 31, 2018 consisted of the following (in thousands, except weighted-average information): Awards Weighted- Aggregate Intrinsic Value RSUs outstanding at December 31, 2017 464 $ 16.81 Granted 1,037 35.51 Vested (202 ) 16.33 $ 9,778 Cancelled/forfeited (84 ) 30.13 RSUs outstanding at December 31, 2018 1,215 $ 31.93 $ 72,266 |
Schedule of Stock-based Compensation Expense | We classified stock-based compensation expense in the accompanying consolidated statements of operations and comprehensive income (loss) as follows (in thousands): Year Ended December 31, 2018 2017 2016 Cost of revenue $ 797 $ 485 $ 106 Research and development 3,699 1,635 338 Sales and marketing 6,153 2,302 1,281 General and administrative 5,998 4,519 1,559 Total $ 16,647 $ 8,941 $ 3,284 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Undiscounted Future Minimum Rental Payment Under Non-Cancelable Operating Leases | Our contractual obligations and commitments as of December 31, 2018 were as follows (in thousands): Lease Obligations Purchase Obligations Convertible Senior Notes and Related Interest Year Ended December 31, Total 2019 $ 6,389 $ 11,724 $ 1,150 $ 19,263 2020 6,781 8,864 1,150 16,795 2021 6,326 6,567 1,150 14,043 2022 6,276 6,600 1,150 14,026 2023 5,163 — 230,575 235,738 Thereafter 9,427 — — 9,427 Total minimum lease payments $ 40,362 $ 33,755 $ 235,175 $ 309,292 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Components of Income (Loss) Before Provision for (Benefit of) Income Taxes | The components of income (loss) before provision for (benefit of) income taxes were as follows (in thousands): Year Ended December 31, 2018 2017 2016 Domestic $ 27,849 $ 24,460 $ (24,741 ) Foreign (2,415 ) (42,864 ) 691 Total $ 25,434 $ (18,404 ) $ (24,050 ) |
Components of Provision for (Benefit of) Income Taxes | The components of the provision for (benefit of) income taxes were as follows (in thousands): Year Ended December 31, 2018 2017 2016 Current: Federal $ (14 ) $ 38 $ — State 314 70 6 Foreign 587 297 229 Total current income tax expense $ 887 $ 405 $ 235 Deferred: Federal $ (2,321 ) $ (1,564 ) $ — State (869 ) — — Foreign (283 ) 254 (27 ) Total deferred income tax benefit: $ (3,473 ) $ (1,310 ) $ (27 ) Total $ (2,586 ) $ (905 ) $ 208 |
Reconciliation of Provision for (Benefit of) Income Taxes at Statutory Rate and Provision for (Benefit of) Income Taxes | The following table reconciles our provision for (benefit of) income taxes at the statutory rate to that at the effective tax rate, using a U.S. federal statutory tax rate of 21% for 2018, and 34% for 2017 and 2016 (in thousands): Year Ended December 31, 2018 2017 2016 Income tax at federal statutory rate $ 5,341 $ (6,257 ) $ (8,177 ) Increase/(decrease) in tax resulting from: State income tax expense, net of federal (438 ) 1,428 (716 ) Foreign rate differential 853 15,375 (88 ) Stock-based compensation (7,916 ) (1,086 ) 602 Change in valuation allowance 510 (20,500 ) 8,449 Tax impact due to tax law change — 2,627 — Change in uncertain tax position reserves — 7,854 — Current year research credits (1,563 ) (965 ) — Prior years research credits — (1,284 ) — Other 627 1,903 138 Total $ (2,586 ) $ (905 ) $ 208 |
Significant Components of Deferred Income Tax Assets (Liabilities) | The following table shows the significant components of deferred income tax assets (liabilities) (in thousands): As of December 31, 2018 2017 Deferred revenue $ 577 $ 764 Net operating losses 3,424 5,655 Accruals and reserves 3,039 1,022 State taxes 440 (212 ) Deferred commissions (4,595 ) (2,467 ) Stock-based compensation 3,361 1,572 Fixed assets & intangibles (953 ) (1,327 ) Research & other credits 5,185 2,407 Convertible debt (8,499 ) — Effects of new accounting standard (13,113 ) — Other 695 289 Valuation allowance (1,138 ) (7,304 ) Net non-current deferred tax assets $ (11,577 ) $ 399 |
Summary of Changes in the Valuation Allowance | The following table shows the changes in our valuation allowance (in thousands): Year Ended December 31, 2018 2017 2016 Beginning balance $ 7,304 $ 27,804 $ 19,355 Decrease in valuation allowance due to Yhat acquisition — (998 ) — Decrease in valuation allowance due to adoption of ASC 606 (6,676 ) — — Increase (decrease) in valuation allowance 510 (19,502 ) 8,449 Ending balance $ 1,138 $ 7,304 $ 27,804 |
Schedule of Activity in Gross Unrecognized Tax Benefits | The following table shows the activity in gross unrecognized tax benefits: Year Ended December 31 2018 2017 2016 Balance at beginning of year $ 5,794 $ — $ — Additions based on tax position related to the current year 391 5624 — Additions for tax positions of prior years 49 170 — Balance at end of year $ 6,234 $ 5,794 $ — |
Basic and Diluted Net Loss Per
Basic and Diluted Net Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of Computation of Net Income (Loss) per Share | The following table presents the computation of net income (loss) per share: Year Ended December 31, 2018 2017 2016 Numerator: Net income (loss) attributable to common stockholders $ 28,020 $ (19,482 ) $ (30,700 ) Denominator: Weighted-average shares used to compute net income (loss) per share attributable to common stockholders, basic 60,829 53,006 32,440 Effect of dilutive securities: Convertible senior notes 409 — — Employee stock awards 3,506 — — Weighted-average shares used to compute net income (loss) per share attributable to common stockholders, diluted 64,744 53,006 32,440 Net income (loss) per share attributable to common stockholders, basic $ 0.46 $ (0.37 ) $ (0.95 ) Net income (loss) per share attributable to common stockholders, diluted $ 0.43 $ (0.37 ) $ (0.95 ) |
Schedule of Anti-dilutive Securities Excluded from Computation of Diluted Net Loss Per Share | The following weighted-average equivalent shares of common stock were excluded from the diluted net income (loss) per share calculation because their inclusion would have been anti-dilutive (in thousands): Year Ended December 31, 2018 2017 2016 Stock awards 510 6,312 5,516 Conversion of convertible preferred stock — 3,290 14,647 Contingently issuable shares — 7 — Total shares excluded from net loss per share 510 9,609 20,163 |
Selected Quarterly Financial _2
Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Data | The following table sets forth unaudited quarterly financial information for the years ended December 31, 2018 and 2017 . As discussed in Note 2, Significant Accounting Policies, we adopted ASC 606 as of January 1, 2018 on a modified retrospective basis. The quarterly information for the three months ended March 31, 2018, June 30, 2018 and September 30, 2018 have been recast to reflect the adoption of ASC 606. Amounts presented for fiscal year 2017 are presented under ASC 605. We have prepared the unaudited quarterly consolidated statements of operations data on a basis consistent with the audited annual consolidated financial statements. In the opinion of management, the financial information in this table reflects all adjustments, consisting of normal and recurring adjustments, necessary for the fair statement of this data (in thousands except per share data): 2018 Quarter Ended March 31 (1) June 30 (1) September 30 (1) December 31 Revenue $ 50,329 $ 51,502 $ 62,589 $ 89,150 Gross margin 45,325 46,233 56,779 82,433 Income (loss) from operations 2,683 (3,425 ) 9,394 21,118 Net income (loss) 4,897 (4,239 ) 10,821 16,541 Diluted income (loss) per share 0.08 (0.07 ) 0.17 $ 0.25 2017 Quarter Ended March 31 June 30 September 30 December 31 Revenue $ 28,545 $ 30,319 $ 34,155 $ 38,588 Gross margin 23,719 25,025 28,730 32,330 Loss from operations (5,614 ) (8,138 ) (2,563 ) (1,884 ) Net loss (5,667 ) (6,994 ) (3,299 ) (1,539 ) Diluted loss per share (0.22 ) (0.12 ) (0.06 ) (0.03 ) (1) The amounts for the three months ended March 31, 2018, June 30, 2018 and September 30, 2018 have been adjusted from previously reported amounts as a result of the adoption of ASC 606. Refer to the tables below for a reconciliation of the previously reported amounts to the adjusted amounts. Quarter Ended March 31, 2018 As Reported ASC 606 Adjustment As Adjusted Revenue $ 42,821 $ 7,508 $ 50,329 Gross margin 37,817 7,508 45,325 Income (loss) from operations (5,848 ) 8,531 2,683 Net income (loss) (5,186 ) 10,083 4,897 Diluted income (loss) per share (0.09 ) 0.17 0.08 Quarter Ended June 30, 2018 As Reported ASC 606 Adjustment As Adjusted Revenue $ 46,796 $ 4,706 $ 51,502 Gross margin 41,527 4,706 46,233 Loss from operations (8,927 ) 5,502 (3,425 ) Net loss (5,295 ) 1,056 (4,239 ) Diluted loss per share (0.09 ) 0.02 (0.07 ) Quarter Ended September 30, 2018 As Reported ASC 606 Adjustment As Adjusted Revenue $ 54,179 $ 8,410 $ 62,589 Gross margin 48,369 8,410 56,779 Income (loss) from operations (371 ) 9,765 9,394 Net income (loss) (244 ) 11,065 10,821 Diluted income (loss) per share — 0.17 0.17 |
New Accounting Pronouncements and Changes in Accounting Principles | Quarter Ended March 31, 2018 As Reported ASC 606 Adjustment As Adjusted Revenue $ 42,821 $ 7,508 $ 50,329 Gross margin 37,817 7,508 45,325 Income (loss) from operations (5,848 ) 8,531 2,683 Net income (loss) (5,186 ) 10,083 4,897 Diluted income (loss) per share (0.09 ) 0.17 0.08 Quarter Ended June 30, 2018 As Reported ASC 606 Adjustment As Adjusted Revenue $ 46,796 $ 4,706 $ 51,502 Gross margin 41,527 4,706 46,233 Loss from operations (8,927 ) 5,502 (3,425 ) Net loss (5,295 ) 1,056 (4,239 ) Diluted loss per share (0.09 ) 0.02 (0.07 ) Quarter Ended September 30, 2018 As Reported ASC 606 Adjustment As Adjusted Revenue $ 54,179 $ 8,410 $ 62,589 Gross margin 48,369 8,410 56,779 Income (loss) from operations (371 ) 9,765 9,394 Net income (loss) (244 ) 11,065 10,821 Diluted income (loss) per share — 0.17 0.17 |
Significant Accounting Polici_4
Significant Accounting Policies - Additional Information (Details) | Jan. 01, 2018USD ($) | Dec. 31, 2018USD ($)reporting_unit | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Amounts receivable from a credit card processor | $ 400,000 | $ 700,000 | |||
Restricted cash | $ 1,000,000 | 200,000 | |||
Capitalized contract costs, amortization period | 4 years | ||||
Recognized royalty expense | $ 7,200,000 | 9,400,000 | $ 6,000,000 | ||
Number of reporting units | reporting_unit | 1 | ||||
Revenue, performance obligation, description of timing | one to three years and are billed annually in advance with net payment terms of 60 days or less. | ||||
Advertising expenses | $ 9,100,000 | 5,500,000 | 5,000,000 | ||
Transaction losses | 1,500,000 | 300,000 | 500,000 | ||
Increase (decrease) in valuation allowance | $ (6,700,000) | 510,000 | (19,502,000) | 8,449,000 | |
Unrecognized tax benefits | 6,234,000 | 5,794,000 | 0 | $ 0 | |
Accumulated deficit | (12,908,000) | (103,546,000) | |||
Deferred commissions | 10,353,000 | 11,213,000 | |||
Deferred income tax, net | $ 11,647,000 | 214,000 | |||
Minimum | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Intangible assets estimated useful lives | 2 years | ||||
Maximum | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Intangible assets estimated useful lives | 8 years | ||||
Accounts Receivable | Customer Concentration Risk | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Concentration risk, percent | 10.10% | ||||
Sales and marketing | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Amortized to sales and marketing expense | $ 18,500,000 | 11,300,000 | 9,400,000 | ||
Foreign Tax Authority | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Unrecognized tax benefits | 0 | ||||
Accounting Standards Update 2016-16 | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Increase (decrease) in deferred tax charge | (1,400,000) | ||||
Accounting Standards Update 2016-09 | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Increase (decrease) in valuation allowance | 2,400,000 | ||||
Cumulative effect of adoption of other accounting standards | 100,000 | ||||
Accounting Standards Update 2014-09 | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Increase (decrease) in valuation allowance | (6,676,000) | $ 0 | $ 0 | ||
Cumulative effect of adoption of other accounting standards | 64,197,000 | ||||
Accumulated deficit | (1,200,000) | ||||
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09 | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Accumulated deficit | 65,400,000 | 110,069,000 | |||
Deferred revenue | (55,600,000) | ||||
Contract asset | 17,200,000 | ||||
Deferred commissions | (11,474,000) | ||||
Deferred income tax, net | $ 7,400,000 | $ 11,647,000 | |||
Software and Software Development Costs | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Property and equipment, useful life | 3 years |
Significant Accounting Polici_5
Significant Accounting Policies - Schedule of Useful Lives by Asset Category (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Computer equipment | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, useful life | 3 years |
Furniture and fixtures | Minimum | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, useful life | 3 years |
Furniture and fixtures | Maximum | |
Property, Plant and Equipment [Line Items] | |
Property and equipment, useful life | 7 years |
Revenue - Statement of Operatio
Revenue - Statement of Operations Impact of 606 (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Revenue | $ 89,150 | $ 62,589 | $ 51,502 | $ 50,329 | $ 38,588 | $ 34,155 | $ 30,319 | $ 28,545 | $ 253,570 | $ 131,607 | $ 85,790 |
Cost of revenue | 22,800 | 21,803 | 16,026 | ||||||||
Gross profit | 82,433 | 56,779 | 46,233 | 45,325 | 32,330 | 28,730 | 25,025 | 23,719 | 230,770 | 109,804 | 69,764 |
Research and development | 43,449 | 29,342 | 17,481 | ||||||||
Sales and marketing | 109,284 | 66,420 | 57,585 | ||||||||
General and administrative | 48,267 | 32,241 | 17,720 | ||||||||
Total operating expenses | 201,000 | 128,003 | 92,786 | ||||||||
Income (loss) from operations | 21,118 | 9,394 | (3,425) | 2,683 | (1,884) | (2,563) | (8,138) | (5,614) | 29,770 | (18,199) | (23,022) |
Interest expense | (7,378) | 0 | 0 | ||||||||
Other income (expense), net | 3,042 | (205) | (1,028) | ||||||||
Income (loss) before provision for (benefit of) income taxes | 25,434 | (18,404) | (24,050) | ||||||||
Provision for (benefit of) income taxes | (2,586) | (905) | 208 | ||||||||
Net income (loss) | $ 16,541 | $ 10,821 | $ (4,239) | $ 4,897 | $ (1,539) | $ (3,299) | $ (6,994) | $ (5,667) | 28,020 | (17,499) | (24,258) |
Less: Accretion of Series A redeemable convertible preferred stock | 0 | (1,983) | (6,442) | ||||||||
Net income (loss) attributable to common stockholders | $ 28,020 | $ (19,482) | $ (30,700) | ||||||||
Net Income (loss) per share attributable to common stockholders, basic (in dollars per share) | $ 0.46 | $ (0.37) | $ (0.95) | ||||||||
Net income (loss) per share attributable to common stockholders, diluted (in dollars per share) | $ 0.25 | $ 0.17 | $ (0.07) | $ 0.08 | $ (0.03) | $ (0.06) | $ (0.12) | $ (0.22) | $ 0.43 | $ (0.37) | $ (0.95) |
Without Adoption (ASC 605) | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Revenue | $ 54,179 | $ 46,796 | $ 42,821 | $ 204,304 | |||||||
Cost of revenue | 22,800 | ||||||||||
Gross profit | 48,369 | 41,527 | 37,817 | 181,504 | |||||||
Research and development | 43,449 | ||||||||||
Sales and marketing | 111,227 | ||||||||||
General and administrative | 48,267 | ||||||||||
Total operating expenses | 202,943 | ||||||||||
Income (loss) from operations | (371) | (8,927) | (5,848) | (21,439) | |||||||
Interest expense | (7,378) | ||||||||||
Other income (expense), net | 2,882 | ||||||||||
Income (loss) before provision for (benefit of) income taxes | (25,935) | ||||||||||
Provision for (benefit of) income taxes | (8,083) | ||||||||||
Net income (loss) | $ (244) | $ (5,295) | $ (5,186) | (17,852) | |||||||
Less: Accretion of Series A redeemable convertible preferred stock | 0 | ||||||||||
Net income (loss) attributable to common stockholders | $ (17,852) | ||||||||||
Net Income (loss) per share attributable to common stockholders, basic (in dollars per share) | $ (0.29) | ||||||||||
Net income (loss) per share attributable to common stockholders, diluted (in dollars per share) | $ 0 | $ (0.09) | $ (0.09) | $ (0.29) | |||||||
Accounting Standards Update 2014-09 | Impacts from Adoption | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Revenue | $ 8,410 | $ 4,706 | $ 7,508 | $ 49,266 | |||||||
Cost of revenue | 0 | ||||||||||
Gross profit | 8,410 | 4,706 | 7,508 | 49,266 | |||||||
Research and development | 0 | ||||||||||
Sales and marketing | (1,943) | ||||||||||
General and administrative | 0 | ||||||||||
Total operating expenses | (1,943) | ||||||||||
Income (loss) from operations | 9,765 | 5,502 | 8,531 | 51,209 | |||||||
Interest expense | 0 | ||||||||||
Other income (expense), net | 160 | ||||||||||
Income (loss) before provision for (benefit of) income taxes | 51,369 | ||||||||||
Provision for (benefit of) income taxes | 5,497 | ||||||||||
Net income (loss) | $ 11,065 | $ 1,056 | $ 10,083 | 45,872 | |||||||
Less: Accretion of Series A redeemable convertible preferred stock | 0 | ||||||||||
Net income (loss) attributable to common stockholders | $ 45,872 | ||||||||||
Net Income (loss) per share attributable to common stockholders, basic (in dollars per share) | $ 0.75 | ||||||||||
Net income (loss) per share attributable to common stockholders, diluted (in dollars per share) | $ 0.17 | $ 0.02 | $ 0.17 | $ 0.72 |
Revenue - Balance Sheet Impact
Revenue - Balance Sheet Impact of 606 (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Cash and cash equivalents | $ 89,974 | $ 119,716 | |||
Short-term investments | 239,718 | 54,386 | |||
Accounts receivable, net of allowance for doubtful accounts and sales reserves | 94,922 | 49,797 | |||
Deferred commissions | 10,353 | 11,213 | |||
Prepaid expenses and other current assets | 26,846 | 7,227 | |||
Total current assets | 461,813 | 242,339 | |||
Property and equipment, net | 11,729 | 7,492 | |||
Long-term investments | 96,551 | 19,964 | |||
Goodwill | 9,494 | 8,750 | $ 0 | ||
Intangible assets, net | 7,491 | 7,995 | |||
Long-term deferred commissions | 12,038 | 0 | |||
Other assets | 18,982 | 4,263 | |||
Deferred incomes taxes, net | 69 | 613 | |||
Total assets | 618,167 | 291,416 | |||
Accounts payable | 5,028 | 522 | |||
Accrued payroll and payroll related liabilities | 24,659 | 11,835 | |||
Accrued expenses and other current liabilities | 10,878 | 8,270 | |||
Deferred revenue | 84,015 | 110,213 | |||
Total current liabilities | 124,580 | 130,840 | |||
Convertible senior notes, net | 173,647 | 0 | |||
Deferred revenue | 2,130 | 3,545 | |||
Other liabilities | 4,345 | 3,313 | |||
Deferred income tax, net | 11,647 | 214 | |||
Total liabilities | 316,349 | 137,912 | |||
Preferred stock | 0 | 0 | |||
Common stock | 6 | 5 | |||
Additional paid-in capital | 315,291 | 257,399 | |||
Accumulated deficit | (12,908) | (103,546) | |||
Accumulated other comprehensive loss | (571) | (354) | |||
Total stockholders’ equity | 301,818 | 153,504 | $ (77,610) | $ (52,911) | |
Total liabilities and stockholders’ equity | 618,167 | $ 291,416 | |||
Without Adoption (ASC 605) | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Cash and cash equivalents | 89,974 | ||||
Short-term investments | 239,718 | ||||
Accounts receivable, net of allowance for doubtful accounts and sales reserves | 95,085 | ||||
Deferred commissions | 21,827 | ||||
Prepaid expenses and other current assets | 15,855 | ||||
Total current assets | 462,459 | ||||
Property and equipment, net | 11,729 | ||||
Long-term investments | 96,551 | ||||
Goodwill | 9,623 | ||||
Intangible assets, net | 8,968 | ||||
Long-term deferred commissions | 0 | ||||
Other assets | 2,502 | ||||
Deferred incomes taxes, net | 833 | ||||
Total assets | 592,665 | ||||
Accounts payable | 5,028 | ||||
Accrued payroll and payroll related liabilities | 24,659 | ||||
Accrued expenses and other current liabilities | 10,581 | ||||
Deferred revenue | 179,341 | ||||
Total current liabilities | 219,609 | ||||
Convertible senior notes, net | 173,647 | ||||
Deferred revenue | 3,513 | ||||
Other liabilities | 4,131 | ||||
Deferred income tax, net | 0 | ||||
Total liabilities | 400,900 | ||||
Preferred stock | 0 | ||||
Common stock | 6 | ||||
Additional paid-in capital | 315,291 | ||||
Accumulated deficit | (122,977) | ||||
Accumulated other comprehensive loss | (555) | ||||
Total stockholders’ equity | 191,765 | ||||
Total liabilities and stockholders’ equity | 592,665 | ||||
Accounting Standards Update 2014-09 | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Accumulated deficit | $ (1,200) | ||||
Accounting Standards Update 2014-09 | Impacts from Adoption | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Cash and cash equivalents | 0 | ||||
Short-term investments | 0 | ||||
Accounts receivable, net of allowance for doubtful accounts and sales reserves | (163) | ||||
Deferred commissions | (11,474) | ||||
Prepaid expenses and other current assets | 10,991 | ||||
Total current assets | (646) | ||||
Property and equipment, net | 0 | ||||
Long-term investments | 0 | ||||
Goodwill | (129) | ||||
Intangible assets, net | (1,477) | ||||
Long-term deferred commissions | 12,038 | ||||
Other assets | 16,480 | ||||
Deferred incomes taxes, net | (764) | ||||
Total assets | 25,502 | ||||
Accounts payable | 0 | ||||
Accrued payroll and payroll related liabilities | 0 | ||||
Accrued expenses and other current liabilities | 297 | ||||
Deferred revenue | (95,326) | ||||
Total current liabilities | (95,029) | ||||
Convertible senior notes, net | 0 | ||||
Deferred revenue | (1,383) | ||||
Other liabilities | 214 | ||||
Deferred income tax, net | 11,647 | 7,400 | |||
Total liabilities | (84,551) | ||||
Preferred stock | 0 | ||||
Common stock | 0 | ||||
Additional paid-in capital | 0 | ||||
Accumulated deficit | 110,069 | $ 65,400 | |||
Accumulated other comprehensive loss | (16) | ||||
Total stockholders’ equity | 110,053 | ||||
Total liabilities and stockholders’ equity | $ 25,502 |
Revenue - Disaggregation of Rev
Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue | $ 89,150 | $ 62,589 | $ 51,502 | $ 50,329 | $ 38,588 | $ 34,155 | $ 30,319 | $ 28,545 | $ 253,570 | $ 131,607 | $ 85,790 |
Cost of revenue | 22,800 | 21,803 | 16,026 | ||||||||
United States | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue | 178,774 | 101,932 | 69,420 | ||||||||
International | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue | 74,796 | $ 29,675 | $ 16,370 | ||||||||
Subscription-based software license | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue | 124,669 | ||||||||||
Cost of revenue | 1,505 | ||||||||||
PCS and services | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue | 128,901 | ||||||||||
Cost of revenue | $ 21,295 | ||||||||||
Geographic Concentration Risk | Revenue from Contract with Customer | United Kingdom | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Concentration risk, percent | 10.20% |
Revenue - Contract Assets and C
Revenue - Contract Assets and Contract Liabilities (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Revenue, performance obligation, description of timing | one to three years and are billed annually in advance with net payment terms of 60 days or less. |
Revenue recognized | $ 56.3 |
Prepaid Expenses and Other Current Assets | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Contract asset | 11.2 |
Other Assets | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Contract asset | $ 16.5 |
Minimum | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Transferred to receivables period | 12 months |
Maximum | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Transferred to receivables period | 24 months |
Revenue - Assets Recognized fro
Revenue - Assets Recognized from the Costs to Obtain Our Contracts with Customers (Details) | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Change in Contract with Customer, Asset [Roll Forward] | |
Beginning Balance | $ 11,213,000 |
Adoption of ASC 606 | (1,154,000) |
Additional contract costs deferred | 30,828,000 |
Amortization of deferred contract costs | (18,496,000) |
Ending Balance | 22,391,000 |
Deferred contract costs | 10,400,000 |
Impairments of assets | $ 0 |
Revenue - Remaining Performance
Revenue - Remaining Performance Obligation (Details) $ in Millions | Dec. 31, 2018USD ($) |
Revenue from Contract with Customer [Abstract] | |
Remaining performance obligation, amount | $ 223.1 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue from Contract with Customer [Abstract] | |
Remaining performance obligation, amount | $ 196.4 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation, period | 24 months |
Business Combinations (Detail)
Business Combinations (Detail) $ in Thousands | 1 Months Ended | 12 Months Ended | ||||
Feb. 28, 2018USD ($) | May 31, 2017USD ($) | Jan. 31, 2017USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2016USD ($) | |
Business Acquisition [Line Items] | ||||||
Goodwill | $ 8,750 | $ 9,494 | $ 0 | |||
Completed Technology | Level 3 | ||||||
Business Acquisition [Line Items] | ||||||
Finite lived intangible assets acquired | $ 9,200 | |||||
Weighted average amortization period | 5 years 8 months 12 days | |||||
Alteryx ANZ Pty Limited | ||||||
Business Acquisition [Line Items] | ||||||
Business combination acquired percentage | 100.00% | |||||
Total consideration | $ 5,700 | |||||
Business combination, purchase price in cash | 3,300 | |||||
Contingent consideration paid in cash | 1,200 | |||||
Settlement of preexisting relationships | 1,200 | |||||
Purchase price allocation, assets acquired and liabilities assumed, net | 3,200 | |||||
Goodwill | 900 | |||||
Contingent earn out consideration | $ 1,500 | |||||
Contingent earn-out consideration payment period | 2 years | |||||
Alteryx ANZ Pty Limited | Customer-Related Intangible Assets | ||||||
Business Acquisition [Line Items] | ||||||
Completed technology intangible assets | $ 1,600 | |||||
Alteryx ANZ Pty Limited | Customer-Related Intangible Assets | Level 3 | ||||||
Business Acquisition [Line Items] | ||||||
Finite lived intangible assets acquired | $ 1,600 | |||||
Weighted average amortization period | 7 years | |||||
Semanta | ||||||
Business Acquisition [Line Items] | ||||||
Business combination acquired percentage | 100.00% | |||||
Total consideration | $ 5,600 | |||||
Contingent consideration paid in cash | $ 1,200 | |||||
Contingent earn-out consideration payment period | 2 years | |||||
Cash consideration held back for customary indemnification matters period | 24 months | |||||
Contingent earn-out consideration | $ 2,300 | |||||
Yhat | ||||||
Business Acquisition [Line Items] | ||||||
Business combination acquired percentage | 100.00% | |||||
Total consideration | $ 10,800 | |||||
Semanta, s.r.o and Yhat, Inc. | ||||||
Business Acquisition [Line Items] | ||||||
Total consideration | 16,400 | |||||
Purchase price allocation, assets acquired and liabilities assumed, net | $ 1,500 | |||||
Goodwill | $ 8,700 | |||||
Measurement Input, Discount Rate | Minimum | Completed Technology | Level 3 | ||||||
Business Acquisition [Line Items] | ||||||
Discount rate | 0.35 | |||||
Measurement Input, Discount Rate | Maximum | Completed Technology | Level 3 | ||||||
Business Acquisition [Line Items] | ||||||
Discount rate | 0.45 | |||||
Market Participant Income Tax Rate | Semanta, s.r.o and Yhat, Inc. | Completed Technology | Level 3 | ||||||
Business Acquisition [Line Items] | ||||||
Discount rate | 0.40 |
Fair Value Measurements - Summa
Fair Value Measurements - Summary of Cash and Cash Equivalents and Investments' Costs, Gross Unrealized Losses, and Fair Value by Major Security Type Recorded as Cash and Cash Equivalents or Short-Term or Long-Term Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and cash equivalents | $ 89,974 | $ 119,716 | |
Short-term investments | 239,718 | 54,386 | |
Long-term investments | 96,551 | 19,964 | |
Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and cash equivalents, fair value | 89,974 | 119,716 | |
Cost | 426,491 | 194,292 | |
Gross Unrealized Losses | (249) | (226) | |
Fair Value | 426,242 | 194,066 | |
Short-term investments | 239,718 | 54,386 | |
Long-term investments | 96,550 | 19,964 | |
Fair Value, Measurements, Recurring | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and cash equivalents | 11,780 | 19,065 | |
Cash and cash equivalents, fair value | 11,780 | 19,065 | |
Fair Value, Measurements, Recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cost | 336,517 | 74,576 | |
Gross Unrealized Losses | (249) | (226) | |
Fair Value | 336,268 | 74,350 | |
Short-term investments | 239,718 | 54,386 | |
Long-term investments | 96,550 | 19,964 | |
Cash | Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and cash equivalents | 78,194 | 100,651 | |
Cash and cash equivalents, fair value | 78,194 | 100,651 | |
Money market funds | Fair Value, Measurements, Recurring | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and cash equivalents | 11,780 | 19,065 | |
Cash and cash equivalents, fair value | 11,780 | 19,065 | |
Commercial paper | Fair Value, Measurements, Recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cost | 1,313 | ||
Fair Value | 1,313 | ||
Short-term investments | 1,313 | ||
Certificates of deposit | Fair Value, Measurements, Recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cost | 6,101 | ||
Fair Value | 6,101 | ||
Short-term investments | 5,351 | ||
Long-term investments | 750 | ||
U.S. Treasury and agency bonds | Fair Value, Measurements, Recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cost | 220,135 | 44,968 | |
Gross Unrealized Losses | (139) | (176) | |
Fair Value | 219,996 | 44,792 | |
Short-term investments | 158,204 | 25,923 | |
Long-term investments | 61,792 | 18,869 | |
Corporate bonds | Fair Value, Measurements, Recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cost | 108,968 | 29,608 | |
Gross Unrealized Losses | (110) | (50) | |
Fair Value | 108,858 | 29,558 | |
Short-term investments | 74,850 | 28,463 | |
Long-term investments | 34,008 | $ 1,095 | |
Commercial paper | Commercial paper | Fair Value, Measurements, Recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Gross Unrealized Losses | 0 | ||
Commercial paper | U.S. Treasury and agency bonds | Fair Value, Measurements, Recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Long-term investments | $ 0 | ||
Certificates of deposit | Certificates of deposit | Fair Value, Measurements, Recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Gross Unrealized Losses | $ 0 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents, restricted cash and investments | $ 90,961 | $ 119,916 | $ 31,506 | $ 25,979 |
Business acquisition, number of shares issued to Semanta (in shares) | 18,869 | 12,492 | ||
Number of shares held back (in shares) | 10,205 | |||
Convertible debt, fair value | $ 343,200 | |||
Minimum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Long-term investments maturity period | 1 year | |||
Maximum | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Long-term investments maturity period | 2 years | |||
Domestic Cash And Investments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents, restricted cash and investments | $ 417,900 | $ 181,300 |
Fair Value Measurements - Recon
Fair Value Measurements - Reconciliation of Beginning and Ending Balances of Acquisition-Related Accrued Contingent Consideration (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | $ 975 | $ 0 |
Obligations assumed | 1,200 | 1,160 |
Change in fair value | 624 | 190 |
Settlement | (656) | (375) |
Ending balance | $ 2,143 | $ 975 |
Allowance for Doubtful Accoun_3
Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||
Beginning balance | $ 1,455 | $ 670 | $ 280 |
Charge-offs | (884) | (337) | (97) |
Recoveries | (693) | (783) | (283) |
Provision | 1,961 | 1,905 | 770 |
Ending balance | $ 1,839 | $ 1,455 | $ 670 |
Property and Equipment - Schedu
Property and Equipment - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 18,826 | $ 11,386 |
Less: Accumulated depreciation and amortization | (7,097) | (3,894) |
Total property and equipment, net | 11,729 | 7,492 |
Computer equipment & software | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 8,909 | 5,852 |
Furniture and fixtures | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 3,685 | 1,812 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 5,398 | 2,229 |
Construction in process | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 834 | $ 1,493 |
Property and Equipment - Additi
Property and Equipment - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation and amortization expense | $ 3.2 | $ 2.3 | $ 1.7 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Schedule of Change in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Goodwill [Roll Forward] | ||
December 31, 2017 | $ 8,750 | $ 0 |
Goodwill recorded in connection with acquisition | 854 | 8,724 |
Effects of foreign currency translation | (110) | 26 |
December 31, 2018 | $ 9,494 | $ 8,750 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | $ 10,734 | $ 9,220 |
Accumulated Amortization | (3,243) | (1,225) |
Net Carrying Value | $ 7,491 | $ 7,995 |
Customer Relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Useful Life in Years | 6 years 11 months | 2 years |
Gross Carrying Value | $ 1,554 | $ 40 |
Accumulated Amortization | (221) | (12) |
Net Carrying Value | $ 1,333 | $ 28 |
Completed Technology | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Useful Life in Years | 5 years 8 months | 5 years 8 months 12 days |
Gross Carrying Value | $ 9,180 | $ 9,180 |
Accumulated Amortization | (3,022) | (1,213) |
Net Carrying Value | $ 6,158 | $ 7,967 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets - Schedule of Intangible Asset Amortization Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of intangible assets | $ 2,029 | $ 1,225 | $ 0 |
Cost of revenue | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of intangible assets | 1,809 | 1,213 | 0 |
Sales and marketing | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of intangible assets | $ 220 | $ 12 | $ 0 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets Estimated Remaining Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2,019 | $ 2,033 | |
2,020 | 1,719 | |
2,021 | 1,509 | |
2,022 | 963 | |
2,023 | 603 | |
Thereafter | 664 | |
Net Carrying Value | $ 7,491 | $ 7,995 |
Convertible Senior Notes - Addi
Convertible Senior Notes - Additional Information (Details) | 2 Months Ended | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2018USD ($)$ / shares | Jun. 30, 2018USD ($)day$ / shares | Dec. 31, 2018USD ($)$ / option | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Debt Instrument [Line Items] | |||||
Proceeds from issuance of senior convertible notes, net of issuance costs | $ 224,246,000 | $ 0 | $ 0 | ||
Purchase of capped calls | 19,113,000 | $ 0 | $ 0 | ||
Deferred tax asset, purchased capped calls | $ 4,600,000 | ||||
Convertible Senior Notes due 2023, 0.5% | |||||
Debt Instrument [Line Items] | |||||
Price risk option strike price (in dollars per share) | $ / option | 44.33 | ||||
Convertible Debt | Convertible Senior Notes due 2023, 0.5% | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, face amount | $ 230,000,000 | $ 230,000,000 | |||
Stated percent | 0.50% | 0.50% | |||
Proceeds from issuance of senior convertible notes, net of issuance costs | $ 224,200,000 | ||||
Shares converted per $1,000 principal amount (in shares) | 22.5572 | ||||
Conversion price (in dollars per share) | $ / shares | $ 44.33 | $ 44.33 | |||
Senior notes in excess of principal | $ 78,500,000 | ||||
Redemption price, percentage | 100.00% | ||||
Convertible Debt | Convertible Senior Notes due 2023, Over-Allotment Option, 0.5% | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, face amount | $ 30,000,000 | $ 30,000,000 | |||
Debt Instrument, Conversion, Option One | Convertible Debt | Convertible Senior Notes due 2023, 0.5% | |||||
Debt Instrument [Line Items] | |||||
Threshold trading days | day | 20 | ||||
Threshold consecutive trading days | day | 30 | ||||
Threshold percentage of stock price trigger | 130.00% | ||||
Debt Instrument, Conversion, Option Two | Convertible Debt | Convertible Senior Notes due 2023, 0.5% | |||||
Debt Instrument [Line Items] | |||||
Threshold trading days | day | 5 | ||||
Threshold consecutive trading days | day | 5 | ||||
Threshold percentage of stock price trigger | 98.00% | ||||
Debt Instrument, Conversion, Option Three | Convertible Debt | Convertible Senior Notes due 2023, 0.5% | |||||
Debt Instrument [Line Items] | |||||
Threshold consecutive trading days | day | 10 | ||||
Price Risk Derivative | |||||
Debt Instrument [Line Items] | |||||
Price risk option strike price (in dollars per share) | $ / option | 44.33 | ||||
Derivative, cap price (in dollars per share) | $ / option | 62.22 |
Convertible Senior Notes - Sche
Convertible Senior Notes - Schedule Of Convertible Senior Notes (Details) - Convertible Debt - Convertible Senior Notes due 2023, 0.5% $ in Thousands | Dec. 31, 2018USD ($) |
Debt Instrument [Line Items] | |
Principal | $ 230,000 |
Less: debt discount, net of amortization | (56,353) |
Net carrying amount | 173,647 |
Equity, net of issuance costs | $ 57,251 |
Convertible Senior Notes - Sc_2
Convertible Senior Notes - Schedule Of Interest Expense Related To Convertible Senior Notes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Debt Instrument [Line Items] | |||
Amortization of debt discount and issuance costs | $ 6,652 | $ 0 | $ 0 |
Convertible Debt | Convertible Senior Notes due 2023, 0.5% | |||
Debt Instrument [Line Items] | |||
Contractual interest expense | 712 | ||
Amortization of debt discount and issuance costs | 6,652 | ||
Total | $ 7,364 | ||
Effective interest rate of the liability component | 7.00% |
Accrued Expenses and Other Cu_2
Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Payables and Accruals [Abstract] | ||
Accrued commissions expense approximately | $ 8.6 | $ 4.9 |
Redeemable Convertible Prefer_2
Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) (Details) | 1 Months Ended | |||
Feb. 28, 2017Vote | Dec. 31, 2018$ / sharesshares | Dec. 31, 2017$ / sharesshares | Mar. 31, 2017$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Preferred stock, conversion ratio | 1 | |||
Reverse stock split ratio | 0.5 | |||
Minimum percentage of votes required for stock conversion | 66.67% | |||
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 | ||
Preferred stock, par value (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | ||
Preferred stock, shares outstanding (in shares) | 0 | 0 | ||
Class A Common Stock | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of votes per share | Vote | 1 | |||
Common stock shares authorized (in shares) | 500,000,000 | 500,000,000 | 500,000,000 | |
Common stock par value per share (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | |
Class B Common Stock | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of votes per share | Vote | 10 | |||
Threshold percentage of common stock conversion | 10.00% | |||
Common stock conversion ratio | 1 | |||
Common stock shares authorized (in shares) | 500,000,000 | 500,000,000 | 500,000,000 | |
Common stock par value per share (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | |
Undesignated Preferred Stock | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Preferred stock, shares authorized (in shares) | 10,000,000 | |||
Preferred stock, par value (in dollars per share) | $ / shares | $ 0.0001 |
Equity Awards - Additional Info
Equity Awards - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Feb. 28, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total intrinsic value of options exercised | $ 56,943 | $ 25,700 | $ 4,100 | |
Amended and Restated 2013 Stock Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares available for future grant (in shares) | 0 | |||
2017 Employee Stock Purchase Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock plan, offering period | 6 months | |||
Stock Options | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Awards vesting period upon service condition satisfied | 4 years | |||
Awards expiration period from date of grant | 10 years | |||
Unrecognized compensation cost related to unvested stock options | $ 13,200 | |||
Weighted average period | 2 years 6 months | |||
Unvested restricted stock units | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Weighted average period | 3 years 2 months 12 days | |||
Unrecognized compensation expense, adjusted for estimated forfeitures, related to unvested RSUs | $ 31,000 | |||
Unvested restricted stock units | 2017 Equity Incentive Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Awards vesting period upon service condition satisfied | 4 years | |||
Awards expiration period from date of grant | 10 years | |||
Class A Common Stock | 2017 Equity Incentive Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares available for future grant (in shares) | 6,900,000 | |||
Stock reserved for issuance under equity award plans (in shares) | 5,100,000 | |||
Class A Common Stock | 2013 Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock reserved for issuance under equity award plans (in shares) | 500,000 | |||
Class A Common Stock | 2017 Employee Stock Purchase Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares available for future grant (in shares) | 1,500,000 | |||
Stock reserved for issuance under equity award plans (in shares) | 1,100,000 | |||
Percentage of maximum deduction of eligible compensation | 15.00% | |||
Stock issued during period, shares, employee stock purchase plans (in shares) | 100,000 | |||
Common stock par value per share (in dollars per share) | $ 21.44 | |||
Class A Common Stock | 2017 Employee Stock Purchase Plan | Maximum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Aggregate number of shares issued (in shares) | 11,000,000 | |||
Common Class A and Class B | 2017 Equity Incentive Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Common stock outstanding percentage | 5.00% | |||
Common Class A and Class B | 2017 Employee Stock Purchase Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Common stock outstanding percentage | 1.00% | |||
Percentage of purchase price of common stock | 85.00% |
Equity Awards - Schedule of Sto
Equity Awards - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Options Outstanding | |||
Options outstanding, beginning balance (in shares) | 5,196 | ||
Granted (in shares) | 672 | ||
Exercised (in shares) | (1,632) | ||
Cancelled/forfeited (in shares) | (187) | ||
Options outstanding, ending balance (in shares) | 4,049 | 5,196 | |
Exercisable (in shares) | 2,363 | ||
Vested and expected to vest (in shares) | 4,049 | ||
Weighted- Average Exercise Price | |||
Options outstanding, beginning balance (in dollars per share) | $ 8.70 | ||
Granted (in dollars per share) | 28.26 | ||
Exercised (in dollars per share) | 6.85 | ||
Cancelled/forfeited (in dollars per share) | 13.29 | ||
Options outstanding, ending balance (in dollars per share) | 12.48 | $ 8.70 | |
Exercisable (in dollars per share) | 6.96 | ||
Vested and expected to vest (in dollars per share) | $ 12.48 | ||
Aggregate Intrinsic Value | |||
Options outstanding at December 31, 2017 | $ 86,108 | ||
Exercised | 56,943 | $ 25,700 | $ 4,100 |
Options outstanding at December 31, 2018 | 190,277 | $ 86,108 | |
Exercisable | 124,068 | ||
Vested and expected to vest | $ 190,277 | ||
Weighted-Average Remaining Contractual Term (Years) | |||
Options outstanding (in years) | 7 years 2 months 12 days | 7 years 9 months 18 days | |
Exercisable (in years) | 6 years 3 months 18 days | ||
Vested and expected to vest (in years) | 7 years 2 months 12 days |
Equity Awards - Schedule of Wei
Equity Awards - Schedule of Weighted-average Assumption Used for Stock Options (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Stock Options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (in years) | 6 years 1 month 6 days | 6 years 1 month 6 days | 6 years |
Estimated volatility | 41.00% | 42.00% | 41.00% |
Risk-free interest rate | 2.00% | 2.00% | 2.00% |
Estimated dividend yield | 0.00% | 0.00% | 0.00% |
Weighted average fair value (in dollars per share) | $ 12.09 | $ 7.53 | $ 4.47 |
Employee Stock Purchase Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (in years) | 6 months | 4 months 24 days | 0 years |
Estimated volatility | 52.00% | 29.00% | 0.00% |
Risk-free interest rate | 2.00% | 1.00% | 0.00% |
Estimated dividend yield | 0.00% | 0.00% | 0.00% |
Weighted average fair value (in dollars per share) | $ 12.13 | $ 4.02 | $ 0 |
Equity Awards - Schedule RSU Ac
Equity Awards - Schedule RSU Activity (Details) - Unvested restricted stock units $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended |
Dec. 31, 2018USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Awards outstanding, beginning balance (in shares) | shares | 464 |
Granted (in shares) | shares | 1,037 |
Vested (in shares) | shares | (202) |
Cancelled/forfeited (in shares) | shares | (84) |
Awards outstanding, ending balance (in shares) | shares | 1,215 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date [Roll Forward] | |
Awards outstanding, beginning of year (in dollars per share) | $ / shares | $ 16.81 |
Granted (in dollars per share) | $ / shares | 35.51 |
Vested (in dollars per share) | $ / shares | 16.33 |
Cancelled/forfeited (in dollars per share) | $ / shares | 30.13 |
Awards outstanding, end of year (in dollars per share) | $ / shares | $ 31.93 |
Aggregate intrinsic value, vested | $ | $ 9,778 |
Aggregate intrinsic value | $ | $ 72,266 |
Equity Awards - Schedule of S_2
Equity Awards - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation expense | $ 16,647 | $ 8,941 | $ 3,284 |
Cost of revenue | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation expense | 797 | 485 | 106 |
Research and development | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation expense | 3,699 | 1,635 | 338 |
Sales and marketing | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation expense | 6,153 | 2,302 | 1,281 |
General and administrative | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation expense | $ 5,998 | $ 4,519 | $ 1,559 |
Retirement Plan (Details)
Retirement Plan (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Retirement Benefits [Abstract] | |||
Contributed to savings plan | $ 2.4 | $ 1.6 | $ 1.1 |
Commitments and Contingencies -
Commitments and Contingencies - Contractual Obligations (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Lease Obligations | |
2,019 | $ 6,389 |
2,020 | 6,781 |
2,021 | 6,326 |
2,022 | 6,276 |
2,023 | 5,163 |
Thereafter | 9,427 |
Total minimum lease payments | 40,362 |
Purchase Obligations | |
2,019 | 11,724 |
2,020 | 8,864 |
2,021 | 6,567 |
2,022 | 6,600 |
2,023 | 0 |
Thereafter | 0 |
Total minimum lease payments | 33,755 |
Convertible Senior Notes and Related Interest | |
2,019 | 1,150 |
2,020 | 1,150 |
2,021 | 1,150 |
2,022 | 1,150 |
2,023 | 230,575 |
Thereafter | 0 |
Total minimum lease payments | 235,175 |
Total | |
2,019 | 19,263 |
2,020 | 16,795 |
2,021 | 14,043 |
2,022 | 14,026 |
2,023 | 235,738 |
Thereafter | 9,427 |
Total minimum lease payments | $ 309,292 |
Commitments and Contingencies_2
Commitments and Contingencies - Additional Information (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Loss Contingencies [Line Items] | |||
Operating lease, rent expense | $ 6,400,000 | $ 4,100,000 | $ 2,700,000 |
Warranty accrual | 0 | ||
Indemnification Agreement | |||
Loss Contingencies [Line Items] | |||
Accrued liability | $ 0 | $ 0 |
Income Taxes - Components of In
Income Taxes - Components of Income (Loss) Before Provision for (Benefit of) Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||
Domestic | $ 27,849 | $ 24,460 | $ (24,741) |
Foreign | (2,415) | (42,864) | 691 |
Income (loss) before provision for (benefit of) income taxes | $ 25,434 | $ (18,404) | $ (24,050) |
Income Taxes - Components of Pr
Income Taxes - Components of Provision for (Benefit of) Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Current: | |||
Federal | $ (14) | $ 38 | $ 0 |
State | 314 | 70 | 6 |
Foreign | 587 | 297 | 229 |
Total current income tax expense | 887 | 405 | 235 |
Deferred: | |||
Federal | (2,321) | (1,564) | 0 |
State | (869) | 0 | 0 |
Foreign | (283) | 254 | (27) |
Total deferred income tax benefit: | (3,473) | (1,310) | (27) |
Total | $ (2,586) | $ (905) | $ 208 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) | Jan. 01, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Income Taxes [Line Items] | |||||
Effective tax rate of statutory | 21.00% | 34.00% | 34.00% | ||
Increase (decrease) in valuation allowance | $ (6,700,000) | $ 510,000 | $ (19,502,000) | $ 8,449,000 | |
Valuation allowance | 1,138,000 | 7,304,000 | 27,804,000 | $ 19,355,000 | |
Change in tax rate, deferred tax assets and valuation allowance | 2,600,000 | ||||
Pre-tax unrecognized tax benefits related to stock-based compensation expense | 6,234,000 | 5,794,000 | 0 | $ 0 | |
Amount which would impact effective tax rate | 5,700,000 | ||||
Penalties and interest accrued | 0 | $ 0 | $ 0 | ||
Federal | |||||
Income Taxes [Line Items] | |||||
Income tax net operating loss carryforwards | 32,900,000 | ||||
State | |||||
Income Taxes [Line Items] | |||||
Income tax net operating loss carryforwards | $ 17,600,000 |
Income Taxes - Schedule of Prov
Income Taxes - Schedule of Provision for (Benefit of) Income Taxes and Effective Tax Rates (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||
Income tax at federal statutory rate | $ 5,341 | $ (6,257) | $ (8,177) |
State income tax expense, net of federal | (438) | 1,428 | (716) |
Foreign rate differential | 853 | 15,375 | (88) |
Stock-based compensation | (7,916) | (1,086) | 602 |
Change in valuation allowance | 510 | (20,500) | 8,449 |
Tax impact due to tax law change | 0 | 2,627 | 0 |
Change in uncertain tax position reserves | 0 | 7,854 | 0 |
Current year research credits | (1,563) | (965) | 0 |
Prior years research credits | 0 | (1,284) | 0 |
Other | 627 | 1,903 | 138 |
Total | $ (2,586) | $ (905) | $ 208 |
Income Taxes - Components of De
Income Taxes - Components of Deferred Income Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Income Tax Disclosure [Abstract] | ||||
Deferred revenue | $ 577 | $ 764 | ||
Net operating losses | 3,424 | 5,655 | ||
Accruals and reserves | 3,039 | 1,022 | ||
State taxes | 440 | (212) | ||
Deferred commissions | (4,595) | (2,467) | ||
Stock-based compensation | 3,361 | 1,572 | ||
Fixed assets & intangibles | (953) | (1,327) | ||
Research & other credits | 5,185 | 2,407 | ||
Convertible debt | (8,499) | 0 | ||
Effects of new accounting standard | (13,113) | 0 | ||
Convertible debt | 695 | 289 | ||
Other | (1,138) | (7,304) | $ (27,804) | $ (19,355) |
Net non-current deferred tax assets | $ (11,577) | |||
Net non-current deferred tax assets | $ 399 |
Income Taxes - Change in Valuat
Income Taxes - Change in Valuation Allowance (Details) - USD ($) $ in Thousands | Jan. 01, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Changes In Valuation Allowance [Roll Forward] | ||||
Beginning balance | $ 7,304 | $ 7,304 | $ 27,804 | $ 19,355 |
Increase (decrease) in valuation allowance | $ (6,700) | 510 | (19,502) | 8,449 |
Ending balance | 1,138 | 7,304 | 27,804 | |
Yhat | ||||
Changes In Valuation Allowance [Roll Forward] | ||||
Increase (decrease) in valuation allowance | 0 | (998) | 0 | |
Accounting Standards Update 2014-09 | ||||
Changes In Valuation Allowance [Roll Forward] | ||||
Increase (decrease) in valuation allowance | $ (6,676) | $ 0 | $ 0 |
Income Taxes - Schedule of Acti
Income Taxes - Schedule of Activity in Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Balance at beginning of year | $ 5,794 | $ 0 | $ 0 |
Additions based on tax position related to the current year | 391 | 5,624 | 0 |
Additions for tax positions of prior years | 49 | 170 | 0 |
Balance at end of year | $ 6,234 | $ 5,794 | $ 0 |
Basic and Diluted Net Income _2
Basic and Diluted Net Income (Loss) Per Share - Schedule of Computation of Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Numerator: | |||||||||||
Net loss attributable to common stockholders | $ 28,020 | $ (19,482) | $ (30,700) | ||||||||
Denominator: | |||||||||||
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic (in shares) | 60,829 | 53,006 | 32,440 | ||||||||
Effect of dilutive securities: | |||||||||||
Convertible senior notes (in shares) | 409 | 0 | 0 | ||||||||
Employee stock awards (in shares) | 3,506 | 0 | 0 | ||||||||
Weighted-average shares used to compute net loss per share attributable to common stockholders, diluted (in shares) | 64,744 | 53,006 | 32,440 | ||||||||
Net Income (loss) per share attributable to common stockholders, basic (in dollars per share) | $ 0.46 | $ (0.37) | $ (0.95) | ||||||||
Net income (loss) per share attributable to common stockholders, diluted (in dollars per share) | $ 0.25 | $ 0.17 | $ (0.07) | $ 0.08 | $ (0.03) | $ (0.06) | $ (0.12) | $ (0.22) | $ 0.43 | $ (0.37) | $ (0.95) |
Basic and Diluted Net Income _3
Basic and Diluted Net Income (Loss) Per Share - Weighted-average Equivalent Shares Excluded From Diluted Net Income (Loss) per Share Calculation (Details) shares in Thousands | 12 Months Ended | ||
Dec. 31, 2018$ / optionshares | Dec. 31, 2017shares | Dec. 31, 2016shares | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Total shares excluded from net loss per share (in shares) | 510 | 9,609 | 20,163 |
Stock awards | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Total shares excluded from net loss per share (in shares) | 510 | 6,312 | 5,516 |
Conversion of convertible preferred stock | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Total shares excluded from net loss per share (in shares) | 0 | 3,290 | 14,647 |
Contingently issuable shares | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Total shares excluded from net loss per share (in shares) | 0 | 7 | 0 |
Convertible Senior Notes due 2023, 0.5% | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Price risk option strike price (in dollars per share) | $ / option | 44.33 |
Selected Quarterly Financial _3
Selected Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Revenue | $ 89,150 | $ 62,589 | $ 51,502 | $ 50,329 | $ 38,588 | $ 34,155 | $ 30,319 | $ 28,545 | $ 253,570 | $ 131,607 | $ 85,790 |
Gross Margin | 82,433 | 56,779 | 46,233 | 45,325 | 32,330 | 28,730 | 25,025 | 23,719 | 230,770 | 109,804 | 69,764 |
Income (loss) from operations | 21,118 | 9,394 | (3,425) | 2,683 | (1,884) | (2,563) | (8,138) | (5,614) | 29,770 | (18,199) | (23,022) |
Net income (loss) | $ 16,541 | $ 10,821 | $ (4,239) | $ 4,897 | $ (1,539) | $ (3,299) | $ (6,994) | $ (5,667) | $ 28,020 | $ (17,499) | $ (24,258) |
Diluted income (loss) per share (in dollars per share) | $ 0.25 | $ 0.17 | $ (0.07) | $ 0.08 | $ (0.03) | $ (0.06) | $ (0.12) | $ (0.22) | $ 0.43 | $ (0.37) | $ (0.95) |
Selected Quarterly Financial _4
Selected Quarterly Financial Data (Unaudited) - Effects of ASC 606 (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Revenue | $ 89,150 | $ 62,589 | $ 51,502 | $ 50,329 | $ 38,588 | $ 34,155 | $ 30,319 | $ 28,545 | $ 253,570 | $ 131,607 | $ 85,790 |
Gross Margin | 82,433 | 56,779 | 46,233 | 45,325 | 32,330 | 28,730 | 25,025 | 23,719 | 230,770 | 109,804 | 69,764 |
Income (loss) from operations | 21,118 | 9,394 | (3,425) | 2,683 | (1,884) | (2,563) | (8,138) | (5,614) | 29,770 | (18,199) | (23,022) |
Net income (loss) | $ 16,541 | $ 10,821 | $ (4,239) | $ 4,897 | $ (1,539) | $ (3,299) | $ (6,994) | $ (5,667) | $ 28,020 | $ (17,499) | $ (24,258) |
Diluted income (loss) per share (in dollars per share) | $ 0.25 | $ 0.17 | $ (0.07) | $ 0.08 | $ (0.03) | $ (0.06) | $ (0.12) | $ (0.22) | $ 0.43 | $ (0.37) | $ (0.95) |
Without Adoption (ASC 605) | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Revenue | $ 54,179 | $ 46,796 | $ 42,821 | $ 204,304 | |||||||
Gross Margin | 48,369 | 41,527 | 37,817 | 181,504 | |||||||
Income (loss) from operations | (371) | (8,927) | (5,848) | (21,439) | |||||||
Net income (loss) | $ (244) | $ (5,295) | $ (5,186) | $ (17,852) | |||||||
Diluted income (loss) per share (in dollars per share) | $ 0 | $ (0.09) | $ (0.09) | $ (0.29) | |||||||
Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606 | |||||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||||||
Revenue | $ 8,410 | $ 4,706 | $ 7,508 | $ 49,266 | |||||||
Gross Margin | 8,410 | 4,706 | 7,508 | 49,266 | |||||||
Income (loss) from operations | 9,765 | 5,502 | 8,531 | 51,209 | |||||||
Net income (loss) | $ 11,065 | $ 1,056 | $ 10,083 | $ 45,872 | |||||||
Diluted income (loss) per share (in dollars per share) | $ 0.17 | $ 0.02 | $ 0.17 | $ 0.72 |
Uncategorized Items - ayx-20181
Label | Element | Value |
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 64,197,000 |
Accounting Standards Update, All Other [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | (1,438,000) |
Accounting Standards Update, All Other [Member] | Additional Paid-in Capital [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 141,000 |
Accounting Standards Update, All Other [Member] | Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ (1,579,000) |