Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Oct. 31, 2014 | Dec. 01, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Oct-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'EXA | ' |
Entity Registrant Name | 'EXA CORP | ' |
Entity Central Index Key | '0000890264 | ' |
Current Fiscal Year End Date | '--01-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 13,837,397 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Oct. 31, 2014 | Jan. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $23,944 | $28,753 |
Accounts receivable | 7,004 | 27,245 |
Prepaid expenses and other current assets | 2,121 | 4,321 |
Total current assets | 33,069 | 60,319 |
Property and equipment, net | 7,644 | 7,356 |
Intangible assets, net | 2,482 | 2,745 |
Deferred tax assets | 41 | 13,306 |
Other assets | 1,125 | 1,123 |
Total assets | 44,361 | 84,849 |
Current liabilities: | ' | ' |
Accounts payable | 802 | 1,684 |
Accrued expenses | 6,715 | 10,285 |
Current portion of deferred revenue | 11,735 | 30,594 |
Current maturities of capital lease obligations | 2,433 | 2,426 |
Total current liabilities | 21,685 | 44,989 |
Deferred revenue | 10 | 273 |
Capital lease obligations | 2,085 | 2,695 |
Deferred rent | 560 | 831 |
Other long-term liabilities | 505 | 528 |
Total liabilities | 24,845 | 49,316 |
Commitments and contingencies (Note 9) | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding | 0 | 0 |
Common stock, $0.001 par value; 30,000,000 shares authorized; 13,869,899 and 13,388,712 shares issued, respectively; 13,837,397 and 13,356,210 shares outstanding, respectively | 14 | 13 |
Additional paid-in capital | 87,352 | 85,201 |
Accumulated deficit | -67,730 | -49,721 |
Treasury stock (32,502 common shares, at cost) | 0 | 0 |
Accumulated other comprehensive (loss) income | -120 | 40 |
Total stockholders' equity | 19,516 | 35,533 |
Total liabilities and stockholders' equity | $44,361 | $84,849 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Oct. 31, 2014 | Jan. 31, 2014 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 30,000,000 | 30,000,000 |
Common stock, shares issued | 13,869,899 | 13,388,712 |
Common stock, shares outstanding | 13,837,397 | 13,356,210 |
Treasury stock, shares | 32,502 | 32,502 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations and Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 | Oct. 31, 2014 | Oct. 31, 2013 |
Revenue: | ' | ' | ' | ' |
License revenue | $12,866 | $11,121 | $36,842 | $32,532 |
Project revenue | 3,092 | 2,987 | 7,729 | 6,768 |
Total revenues | 15,958 | 14,108 | 44,571 | 39,300 |
Operating expenses: | ' | ' | ' | ' |
Cost of revenues | 4,562 | 4,023 | 13,790 | 11,527 |
Sales and marketing | 2,442 | 2,243 | 7,518 | 6,539 |
Research and development | 5,462 | 4,428 | 15,968 | 13,264 |
General and administrative | 3,171 | 2,736 | 9,510 | 7,933 |
Total operating expenses | 15,637 | 13,430 | 46,786 | 39,263 |
Income (loss) from operations | 321 | 678 | -2,215 | 37 |
Other income (expense), net: | ' | ' | ' | ' |
Foreign exchange gain (loss) | 194 | 31 | 325 | -25 |
Interest expense | -88 | -71 | -265 | -628 |
Interest income | 3 | 4 | 9 | 13 |
Loss on extinguishment of debt | ' | ' | ' | -755 |
Other income, net | 4 | 2 | 7 | 7 |
Total other income (expense), net | 113 | -34 | 76 | -1,388 |
Income (loss) before income taxes | 434 | 644 | -2,139 | -1,351 |
(Provision) benefit for income taxes | -214 | -128 | -15,870 | 528 |
Net income (loss) | 220 | 516 | -18,009 | -823 |
Net income (loss) per share: | ' | ' | ' | ' |
Basic | $0.02 | $0.04 | ($1.31) | ($0.06) |
Diluted | $0.02 | $0.04 | ($1.31) | ($0.06) |
Weighted average shares outstanding used in computing net income (loss) per share: | ' | ' | ' | ' |
Basic | 13,822,400 | 13,341,235 | 13,701,380 | 13,318,839 |
Diluted | 14,749,825 | 14,706,263 | 13,701,380 | 13,318,839 |
Comprehensive income (loss): | ' | ' | ' | ' |
Net income (loss) | 220 | 516 | -18,009 | -823 |
Foreign currency translation adjustments | -126 | 64 | -160 | 76 |
Comprehensive income (loss) | $94 | $580 | ($18,169) | ($747) |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 |
Cash flows (used in) provided by operating activities: | ' | ' |
Net income (loss) | ($18,009) | ($823) |
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ' | ' |
Depreciation and amortization | 2,157 | 1,561 |
Stock-based compensation expense | 1,403 | 846 |
Deferred rent expense | -267 | -424 |
Non-cash interest | ' | 162 |
Loss on extinguishment of debt, non-cash portion | ' | 465 |
Deferred income taxes | 15,209 | -1,614 |
Net change in operating assets and liabilities: | ' | ' |
Accounts receivable | 20,432 | 20,398 |
Prepaid expenses and other current assets | 258 | -201 |
Other assets | -2 | -55 |
Accounts payable | -874 | -887 |
Accrued expenses | -3,415 | -1,107 |
Other liabilities | -23 | 84 |
Deferred revenue | -18,942 | -13,978 |
Net cash (used in) provided by operating activities | -2,073 | 4,427 |
Cash flows used in investing activities: | ' | ' |
Purchases of property and equipment | -684 | -674 |
Net cash used in investing activities | -684 | -674 |
Cash flows used in financing activities: | ' | ' |
Proceeds from stock option exercises | 749 | 173 |
Payments of long-term debt | ' | -7,365 |
Payments of capital lease obligations | -2,303 | -1,532 |
Payment of debt issuance costs | ' | -213 |
Net cash used in financing activities | -1,554 | -8,937 |
Effect of exchange rate changes on cash | -498 | -93 |
Net decrease in cash and cash equivalents | -4,809 | -5,277 |
Cash and cash equivalents, beginning of period | 28,753 | 30,716 |
Cash and cash equivalents, end of period | 23,944 | 25,439 |
Supplemental cash flow disclosures: | ' | ' |
Cash paid for interest | 265 | 533 |
Cash paid for income taxes | 1,282 | 289 |
Supplemental disclosure of non-cash investing and financing activities: | ' | ' |
Acquisition of equipment through capital leases | $1,700 | $563 |
Description_of_Business
Description of Business | 9 Months Ended |
Oct. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Description of Business | ' |
1. Description of Business | |
Exa Corporation (the “Company” or “Exa”), a Delaware corporation, develops, sells and supports simulation software and services used primarily by vehicle manufacturers to enhance the performance of their products, reduce product development costs and improve the efficiency of their design and engineering processes. The Company’s solutions enable engineers and designers to augment or replace conventional methods of evaluating designs that rely on expensive and inefficient physical prototypes and test facilities with accurate digital simulations that are more useful, cost effective and timely. The Company’s simulation solutions enable customers to gain crucial insights about design performance early in the design cycle, reducing the likelihood of expensive redesigns and late-stage engineering changes, which result in cost savings and fundamental improvements in the development process. The Company is primarily focused on the ground transportation market, but is also exploring the application of its capabilities in the aerospace, oil and gas production, chemical processing, architecture, engineering and construction, power generation, biomedical and electronics industries. | |
Exa has offices and sells directly in the United States and through subsidiaries in France, Germany, Italy, Japan, Korea, China, and the United Kingdom. The Company also conducts business in Sweden, India, Brazil, Russia, Canada, Finland, Spain and Australia. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended |
Oct. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
2. Summary of Significant Accounting Policies | |
Applicable Accounting Guidance | |
Any reference in these notes to applicable accounting guidance is meant to refer to the authoritative United States generally accepted accounting principles (“GAAP”) as found in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”). | |
Basis of Presentation | |
The accompanying unaudited consolidated financial statements have been prepared by the Company in accordance with GAAP for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended January 31, 2014. These financial statements reflect all adjustments (consisting solely of normal, recurring adjustments) that are, in the opinion of management, necessary for a fair statement of results for the interim periods presented. | |
Use of Estimates | |
The preparation of financial statements in conformity with GAAP requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Changes in estimates are recorded in the period in which they become known. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances. Actual results could differ from management’s estimates if future events differ substantially from past experience, or other assumptions, which reasonable when made, do not turn out to be substantially accurate. | |
Internal Use Software | |
Costs incurred in the research and development of the Company’s software products are expensed as incurred. Costs incurred during the application development stage of internal-use software projects, such as those used to develop internal systems, are capitalized. Capitalized costs include external consulting fees and payroll and payroll-related costs for employees in the Company’s development and information technology groups who are directly associated with, and who devote time to, the Company’s internal-use software projects during the application development stage. Capitalization begins when the planning stage is complete and the Company commits resources to the software project. Amortization of the asset commences when the software is complete and placed in service. The Company amortizes completed internal-use software over its estimated useful life. Costs incurred during the planning, training and post-implementation stages of the software development life-cycle are expensed as incurred. Costs related to upgrades and enhancements of existing internal-use software that increase the functionality of the software are also capitalized. | |
Recent Accounting Pronouncements | |
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (ASU 2013-11). ASU 2013-11 clarifies guidance and eliminates diversity in practice on the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. This new guidance was effective for the Company in the first quarter of fiscal year 2015. The Company adopted ASU 2013-11 on February 1, 2014. This adoption did not have a material impact on the Company’s consolidated financial statements. | |
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (ASU 2014-09), which supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, as a result of which, more judgment and estimates may be required within the revenue recognition process than are required under existing GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). The Company is currently evaluating the impact of its pending adoption of ASU 2014-09 on its consolidated financial statements and has not yet determined the method by which it will adopt the standard in fiscal year 2018. | |
In June 2014, the FASB issued ASU 2014-12, which is a standards update on accounting for share-based payments when the terms of the award provide that a performance target could be achieved after a requisite service period. The standard is effective for annual periods beginning after December 31, 2015, and interim periods therein, with early adoption permitted. This ASU is not expected to have an impact on the Company’s financial statements or disclosures. | |
In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Under the new guidance, management will be required to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. The provisions of this ASU are effective for annual periods beginning after December 15, 2016, and for interim periods therein. This ASU is not expected to have an impact on the Company’s financial statements or disclosures. |
Computation_of_Net_Income_Loss
Computation of Net Income (Loss) Per Share | 9 Months Ended | ||||||||||||||||
Oct. 31, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Computation of Net Income (Loss) Per Share | ' | ||||||||||||||||
3. Computation of Net Income (Loss) Per Share | |||||||||||||||||
Net income (loss) per share has been computed using the weighted average number of shares of common stock outstanding during each period. Diluted amounts per share include the impact of the Company’s outstanding potential common shares, such as shares issuable upon exercise of in-the-money stock options or warrants, when dilutive. Potential common shares that are anti-dilutive are excluded from the calculation of diluted net income (loss) per common share. | |||||||||||||||||
The following summarizes the calculation of basic and diluted net income (loss) per share: | |||||||||||||||||
Three Months Ended October 31, | Nine Months Ended October 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Numerator: | |||||||||||||||||
Net income (loss) | $ | 220 | $ | 516 | $ | (18,009 | ) | $ | (823 | ) | |||||||
Denominator: | |||||||||||||||||
Weighted average common shares, basic | 13,822,400 | 13,341,235 | 13,701,380 | 13,318,839 | |||||||||||||
Dilutive effect of: | |||||||||||||||||
Options to purchase common and preferred stock | 898,619 | 1,351,169 | — | — | |||||||||||||
Warrants to purchase common stock | 9,285 | 12,118 | — | — | |||||||||||||
Restricted stock units | 19,521 | 1,741 | — | — | |||||||||||||
Weighted average common shares, diluted | 14,749,825 | 14,706,263 | 13,701,380 | 13,318,839 | |||||||||||||
Basic net income (loss) per share | $ | 0.02 | $ | 0.04 | $ | (1.31 | ) | $ | (0.06 | ) | |||||||
Diluted net income (loss) per share | $ | 0.02 | $ | 0.04 | $ | (1.31 | ) | $ | (0.06 | ) | |||||||
The table below represents outstanding options, restricted stock unit awards and warrants that were excluded from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect. All of the Company’s outstanding stock options, unvested restricted stock units and warrants were anti-dilutive for the nine months ended October 31, 2014 due to the net loss position of the Company. | |||||||||||||||||
Three Months Ended October 31, | Nine Months Ended October 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Options, restricted stock unit awards and warrants to purchase common and preferred stock | 1,633,635 | 692,165 | 2,785,477 | 2,324,500 |
Property_and_Equipment_net
Property and Equipment, net | 9 Months Ended | ||||||||
Oct. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property and Equipment, net | ' | ||||||||
4. Property and Equipment, net | |||||||||
Property and equipment, net consists of the following: | |||||||||
October 31, | January 31, | ||||||||
2014 | 2014 | ||||||||
Computer software and equipment | $ | 20,742 | $ | 18,635 | |||||
Office equipment and furniture | 444 | 444 | |||||||
Leasehold improvements | 2,611 | 2,627 | |||||||
Total property and equipment | 23,797 | 21,706 | |||||||
Less: accumulated depreciation and amortization | (16,153 | ) | (14,350 | ) | |||||
Property and equipment, net | $ | 7,644 | $ | 7,356 | |||||
For the three and nine months ended October 31, 2014, depreciation and amortization expense was $675 and $1,894, respectively. For the three and nine months ended October 31, 2013, depreciation and amortization expense was $434 and $1,298, respectively. Included in computer software and equipment and office equipment and furniture is equipment held pursuant to capital leases with costs of $18,415 and $16,802 and accumulated amortization of $12,313 and $10,997 as of October 31, 2014 and January 31, 2014, respectively. | |||||||||
During the nine months ended October 31, 2014, the Company capitalized $80 of hardware, software, external consulting fees and payroll and payroll-related costs for the development and implementation of internal-use software applications, which is included in computer software and equipment. Also included in computer software and equipment is accumulated amortization of $6 at October 31, 2014. The Company implemented the software during the second quarter of fiscal year 2015 to be used primarily for accounting and reporting applications. |
Accrued_Expenses
Accrued Expenses | 9 Months Ended | ||||||||
Oct. 31, 2014 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Accrued Expenses | ' | ||||||||
5. Accrued Expenses | |||||||||
Accrued expenses consist of the following: | |||||||||
October 31, | January 31, | ||||||||
2014 | 2014 | ||||||||
Accrued payroll | $ | 1,660 | $ | 1,603 | |||||
Sales and withholding taxes | 762 | 3,158 | |||||||
Accrued commissions and bonuses | 1,369 | 2,456 | |||||||
Accrued income taxes payable | 702 | 571 | |||||||
Deferred rent, current portion | 603 | 602 | |||||||
Legal and professional | 649 | 489 | |||||||
Other accrued expenses | 970 | 1,406 | |||||||
Total accrued expenses | $ | 6,715 | $ | 10,285 | |||||
Deferred_Rent
Deferred Rent | 9 Months Ended | ||||||||
Oct. 31, 2014 | |||||||||
Text Block [Abstract] | ' | ||||||||
Deferred Rent | ' | ||||||||
6. Deferred Rent | |||||||||
In connection with its corporate headquarters lease entered into in July 2008, the Company received a tenant improvement allowance of $1,958 from the landlord. This lease incentive was recorded as leasehold improvements and deferred rent and is being amortized as part of rent expense on a straight-line basis over the life of the lease. The Company’s subsidiary Euroxa S.a.r.l. entered into a new office lease in Paris, France in May 2012 with a landlord incentive totaling $148, equivalent to four months free rent, which is also being amortized as rent expense on a straight line basis over the life of the lease. In addition, the Company’s facility leases typically contain other than straight-line payment features. The difference between the straight-line rent expense of the lease and the cash payments is recorded as deferred rent. Deferred rent is as follows: | |||||||||
October 31, | January 31, | ||||||||
2014 | 2014 | ||||||||
Leasehold improvement incentive | $ | 374 | $ | 572 | |||||
Non-cash rent expense | 789 | 861 | |||||||
Total deferred rent | 1,163 | 1,433 | |||||||
Less: current portion included in accrued expenses | (603 | ) | (602 | ) | |||||
Deferred rent, net of current portion | $ | 560 | $ | 831 | |||||
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||
Oct. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
7. Fair Value Measurements | |||||||||||||||||
Financial instruments consist primarily of cash and cash equivalents, accounts receivable and capital lease obligations. As of October 31, 2014 and January 31, 2014, the carrying amounts of these instruments approximate their fair values. The estimated fair values have been determined from information obtained from market sources and management estimates. | |||||||||||||||||
In determining the fair value of its financial assets and liabilities, the Company uses various valuation approaches. ASC 820, Fair Value Measurements and Disclosures, establishes a hierarchy of inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability, and are developed based on the best information available in the circumstances. The fair value hierarchy is broken down into three levels based on the source of inputs as follows: | |||||||||||||||||
Level 1 – Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. | |||||||||||||||||
Level 2 – Valuations based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and models for which all significant inputs are observable, either directly or indirectly. | |||||||||||||||||
Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement and that are based on management’s best estimate of inputs market participants would use for pricing the asset or liability at the measurement date, including assumptions about risk. | |||||||||||||||||
The following table summarizes the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value as of October 31, 2014: | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Money market funds | $ | 16,013 | $ | 16,013 | $ | — | $ | — | |||||||||
The following table summarizes the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value as of January 31, 2014: | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Money market funds | $ | 15,008 | $ | 15,008 | $ | — | $ | — | |||||||||
The availability of observable inputs can vary among the various types of financial assets and liabilities. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for financial statement disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is categorized is based on the lowest level input that is significant to the overall fair value measurement. |
Acquired_Intangible_Assets
Acquired Intangible Assets | 9 Months Ended | ||||||||||||
Oct. 31, 2014 | |||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Acquired Intangible Assets | ' | ||||||||||||
8. Acquired Intangible Assets | |||||||||||||
Intangible assets acquired in a business combination are recorded under the purchase method of accounting at their estimated fair values at the date of acquisition. The Company amortizes acquired intangible assets over their estimated useful lives. | |||||||||||||
The following table reflects the carrying value of intangible assets as of October 31, 2014: | |||||||||||||
October 31, 2014 | |||||||||||||
Cost | Accumulated | Net Book | |||||||||||
Amortization | Value | ||||||||||||
Intellectual property | $ | 3,505 | $ | (1,023 | ) | $ | 2,482 | ||||||
Access to facilities contract | 38 | (38 | ) | — | |||||||||
Total | $ | 3,543 | $ | (1,061 | ) | $ | 2,482 | ||||||
The following table reflects the carrying value of intangible assets as of January 31, 2014: | |||||||||||||
January 31, 2014 | |||||||||||||
Cost | Accumulated | Net Book | |||||||||||
Amortization | Value | ||||||||||||
Intellectual property | $ | 3,505 | $ | (760 | ) | $ | 2,745 | ||||||
Access to facilities contract | 38 | (38 | ) | — | |||||||||
Total | $ | 3,543 | $ | (798 | ) | $ | 2,745 | ||||||
For the three and nine months ended October 31, 2014 and October 31, 2013, amortization expense of intangible assets was $88 and $263, respectively. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Oct. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
9. Commitments and Contingencies | |
Legal Contingencies | |
From time to time the Company is involved in legal proceedings arising in the ordinary course of business. There is no litigation pending that could, individually or in the aggregate, have a material adverse effect on the Company’s financial position, results of operations, or cash flows. In 2011, the Company was notified by the Massachusetts Institute of Technology, or MIT, that MIT believes that the Company is utilizing the intellectual property covered by a license agreement between the Company and MIT, and therefore is in arrears in the payment of royalties under the agreement. The Company has advised MIT that it does not believe that the Company utilized the underlying technology at any time since at least 1998, or that any royalties are owed under the agreement. MIT has not commenced suit against the Company with respect to its claims, and if any such suit is commenced by MIT, the Company intends to defend it vigorously. The Company believes that if MIT were to prevail in any such litigation, the royalties due under the terms of the license agreement, after giving effect to the approximately $200 in minimum royalties that the Company has already paid, would not exceed approximately $2,600 (excluding any interest or costs of litigation). The Company has not concluded that a loss in connection with the MIT claim is probable. | |
Guarantees and Indemnification Obligations | |
The Company enters into standard indemnification agreements in the ordinary course of business. Pursuant to these agreements, the Company indemnifies, holds harmless, and agrees to reimburse the indemnified party for losses suffered or incurred by the indemnified party, generally the Company’s business partners or customers, in connection with any United States patent, or any copyright or other intellectual property infringement claim by any third party with respect to the Company’s products. The term of these indemnification provisions is generally perpetual after execution of the agreement. The maximum potential amount of future payments the Company could be required to make under these agreements is unlimited. | |
Based on historical experience and information known as of October 31, 2014 and January 31, 2014, the Company has not recorded any liabilities for the above guarantees and indemnities. |
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | ||||||||||||||||
Oct. 31, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
10. Stock-Based Compensation | |||||||||||||||||
The fair value of common stock service-based options for employees and directors is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions used: | |||||||||||||||||
Nine Months Ended October 31, | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Estimated dividend yield | 0 | % | 0 | % | |||||||||||||
Expected stock price volatility | 47.4 | % | 50.6 | % | |||||||||||||
Weighted-average risk-free interest rate | 2.2 | % | 2.2 | % | |||||||||||||
Expected life of options (in years) | 6.25 | 6.25 | |||||||||||||||
The weighted average grant date fair value per share for service-based stock options granted in the three and nine months ended October 31, 2014 was $5.04 and $5.48, respectively. | |||||||||||||||||
Total stock-based compensation expense related to service-based stock options and restricted stock units issued by the Company is as follows: | |||||||||||||||||
Three Months Ended October 31, | Nine Months Ended October 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Cost of revenues | $ | 52 | $ | 35 | $ | 134 | $ | 99 | |||||||||
Sales and marketing | 88 | 67 | 249 | 169 | |||||||||||||
Research and development | 200 | 110 | 547 | 264 | |||||||||||||
General and administrative | 193 | 138 | 473 | 314 | |||||||||||||
Total | $ | 533 | $ | 350 | $ | 1,403 | $ | 846 | |||||||||
The total unrecognized compensation cost related to outstanding service-based stock options is $4,424 at October 31, 2014. This amount is expected to be recognized over a weighted-average period of 2.94 years. | |||||||||||||||||
On June 10, 2014, the Company’s stockholders approved the amendment and restatement of the Company’s 2011 Stock Incentive Plan. As a result, the number of shares available to be issued under the plan increased from 769,230 to 1,769,230 shares of common stock. Following this approval, the Company granted performance-based options to purchase an aggregate of 292,500 shares of common stock. The majority of the performance-based options are eligible to vest if certain specified targets are met in fiscal years 2015, 2016 and 2017. Performance-based stock options are recognized as expense over the requisite service period when it becomes probable that performance measures triggering vesting will be met. As of October 31, 2014, the Company has concluded that it is not probable that any of the performance-based stock options will achieve the required metrics for vesting. As a result, the Company has not recognized any share-based compensation expense associated with these options. |
Income_Taxes
Income Taxes | 9 Months Ended |
Oct. 31, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
11. Income Taxes | |
For the three and nine months ended October 31, 2014, the Company’s income tax provision was $214 and $15,870, respectively. The provision for the three months ended October 31, 2014 primarily consists of foreign income taxes and withholding taxes. The provision for the nine months ended October 31, 2014 includes a $14,506 non-cash charge to record a valuation allowance against the Company’s United States net deferred tax assets and a $700 non-cash write-off of state deferred tax assets (discussed further below). Through the three months ended April 30, 2014, the Company’s results reflected a three-year cumulative loss position in the United States; prior thereto, the Company’s historical results reflected a three-year cumulative profit. Reflecting management’s plans to continue investing in the business for future growth, management’s projections reflect the Company continuing in a three-year cumulative loss position through fiscal year 2015. This historical loss position at April 30, 2014 and projected cumulative loss position caused management to modify its assessment of its deferred tax assets, concluding that it no longer was more likely than not that these deferred tax assets would be realized and thus, a valuation allowance was necessary against the full amount of its United States net deferred tax assets. | |
Management will reassess the realization of the deferred tax assets each reporting period. To the extent that the financial results of the Company’s United States operations improve and the deferred tax asset becomes realizable, the Company will reduce the valuation allowance through earnings. | |
Under Section 382 of the Internal Revenue Code of 1986, as amended, substantial changes in the Company’s ownership may limit the amount of net operating loss carryforwards that can be utilized annually in the future to offset its United States federal taxable income. Specifically, this limitation may arise in the event of a cumulative change in ownership of the Company of more than 50% within a three-year period. During the first quarter of fiscal year 2015, management determined that the Company had experienced an ownership change for purposes of Section 382. This ownership change resulted in annual limitations to the amount of net operating loss carryforwards that can be utilized to offset future taxable income, if any, at the federal level. The annual limit is approximately $14,032 for fiscal year 2015, $16,758 for each of fiscal years 2016 through 2019, $8,046 for fiscal year 2020 and $6,366 for each fiscal year thereafter. The ownership change also resulted in the loss of the Company’s ability to utilize $700 of its $810 of state net operating loss carryforwards, credits and other state attributes, which resulted in a write-off of the $700 of state deferred tax assets during the first quarter of fiscal year 2015. | |
The Company does not expect that its unrecognized tax benefit will change significantly within the next twelve months. The Company and one or more of its subsidiaries file United States federal income tax returns and tax returns in various state and foreign jurisdictions. With limited exceptions, the Company is no longer subject to federal, state, local or foreign examinations for years prior to January 31, 2011. However, carryforward attributes that were generated prior to January 31, 2011 may still be adjusted upon examination by state or local tax authorities if they either have been or will be used in a future period. |
Geographic_Information
Geographic Information | 9 Months Ended | ||||||||||||||||
Oct. 31, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Geographic Information | ' | ||||||||||||||||
12. Geographic Information | |||||||||||||||||
Revenue is attributed to individual countries based upon location of the external customer. Revenue by geographic area is as follows: | |||||||||||||||||
Three Months Ended October 31, | Nine Months Ended October 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
United States | $ | 4,332 | $ | 3,099 | $ | 10,616 | $ | 8,588 | |||||||||
Japan | 2,339 | 2,492 | 6,857 | 6,320 | |||||||||||||
Germany | 3,026 | 2,615 | 8,555 | 7,273 | |||||||||||||
France | 2,361 | 2,475 | 6,597 | 6,915 | |||||||||||||
Korea | 1,319 | 1,211 | 3,974 | 3,498 | |||||||||||||
United Kingdom | 1,220 | 1,233 | 3,609 | 3,497 | |||||||||||||
Sweden | 501 | 489 | 1,846 | 1,716 | |||||||||||||
Other | 860 | 494 | 2,517 | 1,493 | |||||||||||||
Total | $ | 15,958 | $ | 14,108 | $ | 44,571 | $ | 39,300 | |||||||||
Net long-lived assets, consisting of net property and equipment, are subject to geographic risks because they are generally difficult to move and to effectively utilize in another geographic area in a reasonable time period and because they are relatively illiquid. | |||||||||||||||||
Net long-lived assets by principal geographic areas were as follows: | |||||||||||||||||
October 31, | January 31, | ||||||||||||||||
2014 | 2014 | ||||||||||||||||
United States | $ | 6,575 | $ | 6,098 | |||||||||||||
France | 709 | 849 | |||||||||||||||
Germany | 162 | 117 | |||||||||||||||
Japan | 117 | 201 | |||||||||||||||
Other | 81 | 91 | |||||||||||||||
Total property and equipment, net | $ | 7,644 | $ | 7,356 | |||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Oct. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Applicable Accounting Guidance | ' |
Applicable Accounting Guidance | |
Any reference in these notes to applicable accounting guidance is meant to refer to the authoritative United States generally accepted accounting principles (“GAAP”) as found in the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”). | |
Basis of Presentation | ' |
Basis of Presentation | |
The accompanying unaudited consolidated financial statements have been prepared by the Company in accordance with GAAP for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended January 31, 2014. These financial statements reflect all adjustments (consisting solely of normal, recurring adjustments) that are, in the opinion of management, necessary for a fair statement of results for the interim periods presented. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of financial statements in conformity with GAAP requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Changes in estimates are recorded in the period in which they become known. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances. Actual results could differ from management’s estimates if future events differ substantially from past experience, or other assumptions, which reasonable when made, do not turn out to be substantially accurate. | |
Internal Use Software | ' |
Internal Use Software | |
Costs incurred in the research and development of the Company’s software products are expensed as incurred. Costs incurred during the application development stage of internal-use software projects, such as those used to develop internal systems, are capitalized. Capitalized costs include external consulting fees and payroll and payroll-related costs for employees in the Company’s development and information technology groups who are directly associated with, and who devote time to, the Company’s internal-use software projects during the application development stage. Capitalization begins when the planning stage is complete and the Company commits resources to the software project. Amortization of the asset commences when the software is complete and placed in service. The Company amortizes completed internal-use software over its estimated useful life. Costs incurred during the planning, training and post-implementation stages of the software development life-cycle are expensed as incurred. Costs related to upgrades and enhancements of existing internal-use software that increase the functionality of the software are also capitalized. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (ASU 2013-11). ASU 2013-11 clarifies guidance and eliminates diversity in practice on the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. This new guidance was effective for the Company in the first quarter of fiscal year 2015. The Company adopted ASU 2013-11 on February 1, 2014. This adoption did not have a material impact on the Company’s consolidated financial statements. | |
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (ASU 2014-09), which supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, as a result of which, more judgment and estimates may be required within the revenue recognition process than are required under existing GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). The Company is currently evaluating the impact of its pending adoption of ASU 2014-09 on its consolidated financial statements and has not yet determined the method by which it will adopt the standard in fiscal year 2018. | |
In June 2014, the FASB issued ASU 2014-12, which is a standards update on accounting for share-based payments when the terms of the award provide that a performance target could be achieved after a requisite service period. The standard is effective for annual periods beginning after December 31, 2015, and interim periods therein, with early adoption permitted. This ASU is not expected to have an impact on the Company’s financial statements or disclosures. | |
In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Under the new guidance, management will be required to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. The provisions of this ASU are effective for annual periods beginning after December 15, 2016, and for interim periods therein. This ASU is not expected to have an impact on the Company’s financial statements or disclosures. |
Computation_of_Net_Income_Loss1
Computation of Net Income (Loss) Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Oct. 31, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Calculation of Basic and Diluted Net Income (Loss) Per Share | ' | ||||||||||||||||
The following summarizes the calculation of basic and diluted net income (loss) per share: | |||||||||||||||||
Three Months Ended October 31, | Nine Months Ended October 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Numerator: | |||||||||||||||||
Net income (loss) | $ | 220 | $ | 516 | $ | (18,009 | ) | $ | (823 | ) | |||||||
Denominator: | |||||||||||||||||
Weighted average common shares, basic | 13,822,400 | 13,341,235 | 13,701,380 | 13,318,839 | |||||||||||||
Dilutive effect of: | |||||||||||||||||
Options to purchase common and preferred stock | 898,619 | 1,351,169 | — | — | |||||||||||||
Warrants to purchase common stock | 9,285 | 12,118 | — | — | |||||||||||||
Restricted stock units | 19,521 | 1,741 | — | — | |||||||||||||
Weighted average common shares, diluted | 14,749,825 | 14,706,263 | 13,701,380 | 13,318,839 | |||||||||||||
Basic net income (loss) per share | $ | 0.02 | $ | 0.04 | $ | (1.31 | ) | $ | (0.06 | ) | |||||||
Diluted net income (loss) per share | $ | 0.02 | $ | 0.04 | $ | (1.31 | ) | $ | (0.06 | ) | |||||||
Outstanding Options, Restricted Stock Unit Awards and Warrants Excluded from Computation of Diluted Net Loss Per Share | ' | ||||||||||||||||
The table below represents outstanding options, restricted stock unit awards and warrants that were excluded from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect. All of the Company’s outstanding stock options, unvested restricted stock units and warrants were anti-dilutive for the nine months ended October 31, 2014 due to the net loss position of the Company. | |||||||||||||||||
Three Months Ended October 31, | Nine Months Ended October 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Options, restricted stock unit awards and warrants to purchase common and preferred stock | 1,633,635 | 692,165 | 2,785,477 | 2,324,500 |
Property_and_Equipment_net_Tab
Property and Equipment, net (Tables) | 9 Months Ended | ||||||||
Oct. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Schedule of Property and Equipment | ' | ||||||||
Property and equipment, net consists of the following: | |||||||||
October 31, | January 31, | ||||||||
2014 | 2014 | ||||||||
Computer software and equipment | $ | 20,742 | $ | 18,635 | |||||
Office equipment and furniture | 444 | 444 | |||||||
Leasehold improvements | 2,611 | 2,627 | |||||||
Total property and equipment | 23,797 | 21,706 | |||||||
Less: accumulated depreciation and amortization | (16,153 | ) | (14,350 | ) | |||||
Property and equipment, net | $ | 7,644 | $ | 7,356 | |||||
Accrued_Expenses_Tables
Accrued Expenses (Tables) | 9 Months Ended | ||||||||
Oct. 31, 2014 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Accrued Expenses | ' | ||||||||
Accrued expenses consist of the following: | |||||||||
October 31, | January 31, | ||||||||
2014 | 2014 | ||||||||
Accrued payroll | $ | 1,660 | $ | 1,603 | |||||
Sales and withholding taxes | 762 | 3,158 | |||||||
Accrued commissions and bonuses | 1,369 | 2,456 | |||||||
Accrued income taxes payable | 702 | 571 | |||||||
Deferred rent, current portion | 603 | 602 | |||||||
Legal and professional | 649 | 489 | |||||||
Other accrued expenses | 970 | 1,406 | |||||||
Total accrued expenses | $ | 6,715 | $ | 10,285 | |||||
Deferred_Rent_Tables
Deferred Rent (Tables) | 9 Months Ended | ||||||||
Oct. 31, 2014 | |||||||||
Text Block [Abstract] | ' | ||||||||
Deferred Rent | ' | ||||||||
Deferred rent is as follows: | |||||||||
October 31, | January 31, | ||||||||
2014 | 2014 | ||||||||
Leasehold improvement incentive | $ | 374 | $ | 572 | |||||
Non-cash rent expense | 789 | 861 | |||||||
Total deferred rent | 1,163 | 1,433 | |||||||
Less: current portion included in accrued expenses | (603 | ) | (602 | ) | |||||
Deferred rent, net of current portion | $ | 560 | $ | 831 | |||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||
Oct. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value | ' | ||||||||||||||||
The following table summarizes the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value as of October 31, 2014: | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Money market funds | $ | 16,013 | $ | 16,013 | $ | — | $ | — | |||||||||
The following table summarizes the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value as of January 31, 2014: | |||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
Assets: | |||||||||||||||||
Money market funds | $ | 15,008 | $ | 15,008 | $ | — | $ | — |
Acquired_Intangible_Assets_Tab
Acquired Intangible Assets (Tables) | 9 Months Ended | ||||||||||||
Oct. 31, 2014 | |||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Carrying Value of Intangible Assets | ' | ||||||||||||
The following table reflects the carrying value of intangible assets as of October 31, 2014: | |||||||||||||
October 31, 2014 | |||||||||||||
Cost | Accumulated | Net Book | |||||||||||
Amortization | Value | ||||||||||||
Intellectual property | $ | 3,505 | $ | (1,023 | ) | $ | 2,482 | ||||||
Access to facilities contract | 38 | (38 | ) | — | |||||||||
Total | $ | 3,543 | $ | (1,061 | ) | $ | 2,482 | ||||||
The following table reflects the carrying value of intangible assets as of January 31, 2014: | |||||||||||||
January 31, 2014 | |||||||||||||
Cost | Accumulated | Net Book | |||||||||||
Amortization | Value | ||||||||||||
Intellectual property | $ | 3,505 | $ | (760 | ) | $ | 2,745 | ||||||
Access to facilities contract | 38 | (38 | ) | — | |||||||||
Total | $ | 3,543 | $ | (798 | ) | $ | 2,745 | ||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Oct. 31, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Assumptions Used to Calculate Fair Value of Common Stock Service-based Options for Employees and Directors | ' | ||||||||||||||||
The fair value of common stock service-based options for employees and directors is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions used: | |||||||||||||||||
Nine Months Ended October 31, | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Estimated dividend yield | 0 | % | 0 | % | |||||||||||||
Expected stock price volatility | 47.4 | % | 50.6 | % | |||||||||||||
Weighted-average risk-free interest rate | 2.2 | % | 2.2 | % | |||||||||||||
Expected life of options (in years) | 6.25 | 6.25 | |||||||||||||||
Stock-Based Compensation Expense Related to Service-based Stock Options Issued and Restricted Stock Units by the Company | ' | ||||||||||||||||
Total stock-based compensation expense related to service-based stock options and restricted stock units issued by the Company is as follows: | |||||||||||||||||
Three Months Ended October 31, | Nine Months Ended October 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Cost of revenues | $ | 52 | $ | 35 | $ | 134 | $ | 99 | |||||||||
Sales and marketing | 88 | 67 | 249 | 169 | |||||||||||||
Research and development | 200 | 110 | 547 | 264 | |||||||||||||
General and administrative | 193 | 138 | 473 | 314 | |||||||||||||
Total | $ | 533 | $ | 350 | $ | 1,403 | $ | 846 | |||||||||
Geographic_Information_Tables
Geographic Information (Tables) | 9 Months Ended | ||||||||||||||||
Oct. 31, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Revenue by Geographic Area | ' | ||||||||||||||||
Revenue is attributed to individual countries based upon location of the external customer. Revenue by geographic area is as follows: | |||||||||||||||||
Three Months Ended October 31, | Nine Months Ended October 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
United States | $ | 4,332 | $ | 3,099 | $ | 10,616 | $ | 8,588 | |||||||||
Japan | 2,339 | 2,492 | 6,857 | 6,320 | |||||||||||||
Germany | 3,026 | 2,615 | 8,555 | 7,273 | |||||||||||||
France | 2,361 | 2,475 | 6,597 | 6,915 | |||||||||||||
Korea | 1,319 | 1,211 | 3,974 | 3,498 | |||||||||||||
United Kingdom | 1,220 | 1,233 | 3,609 | 3,497 | |||||||||||||
Sweden | 501 | 489 | 1,846 | 1,716 | |||||||||||||
Other | 860 | 494 | 2,517 | 1,493 | |||||||||||||
Total | $ | 15,958 | $ | 14,108 | $ | 44,571 | $ | 39,300 | |||||||||
Net Long-Lived Assets by Principal Geographic Areas | ' | ||||||||||||||||
Net long-lived assets by principal geographic areas were as follows: | |||||||||||||||||
October 31, | January 31, | ||||||||||||||||
2014 | 2014 | ||||||||||||||||
United States | $ | 6,575 | $ | 6,098 | |||||||||||||
France | 709 | 849 | |||||||||||||||
Germany | 162 | 117 | |||||||||||||||
Japan | 117 | 201 | |||||||||||||||
Other | 81 | 91 | |||||||||||||||
Total property and equipment, net | $ | 7,644 | $ | 7,356 | |||||||||||||
Computation_of_Net_Income_Loss2
Computation of Net Income (Loss) Per Share - Calculation of Basic and Diluted Net Income (Loss) Per Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 | Oct. 31, 2014 | Oct. 31, 2013 |
Numerator: | ' | ' | ' | ' |
Net income (loss) | $220 | $516 | ($18,009) | ($823) |
Denominator: | ' | ' | ' | ' |
Weighted average common shares, basic | 13,822,400 | 13,341,235 | 13,701,380 | 13,318,839 |
Dilutive effect of: | ' | ' | ' | ' |
Options to purchase common and preferred stock | 898,619 | 1,351,169 | ' | ' |
Warrants to purchase common stock | 9,285 | 12,118 | ' | ' |
Restricted stock units | 19,521 | 1,741 | ' | ' |
Weighted average common shares, diluted | 14,749,825 | 14,706,263 | 13,701,380 | 13,318,839 |
Basic net income (loss) per share | $0.02 | $0.04 | ($1.31) | ($0.06) |
Diluted net income (loss) per share | $0.02 | $0.04 | ($1.31) | ($0.06) |
Computation_of_Net_Income_Loss3
Computation of Net Income (Loss) Per Share - Outstanding Options, Restricted Stock Unit Awards and Warrants Excluded from Computation of Diluted Net Loss Per Share (Detail) | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2014 | Oct. 31, 2013 | Oct. 31, 2014 | Oct. 31, 2013 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Options, restricted stock unit awards and warrants to purchase common and preferred stock | 1,633,635 | 692,165 | 2,785,477 | 2,324,500 |
Property_and_Equipment_Net_Sch
Property and Equipment, Net - Schedule of Property and Equipment (Detail) (USD $) | Oct. 31, 2014 | Jan. 31, 2014 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Total property and equipment | $23,797 | $21,706 |
Less: accumulated depreciation and amortization | -16,153 | -14,350 |
Property and equipment, net | 7,644 | 7,356 |
Computer Software and Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total property and equipment | 20,742 | 18,635 |
Less: accumulated depreciation and amortization | -6 | ' |
Office Equipment and Furniture [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total property and equipment | 444 | 444 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Total property and equipment | $2,611 | $2,627 |
Property_and_Equipment_Net_Add
Property and Equipment, Net - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 | Oct. 31, 2014 | Oct. 31, 2013 | Jan. 31, 2014 |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Depreciation and amortization expense | $675 | $434 | $1,894 | $1,298 | ' |
Cost of equipment held pursuant to capital leases | 18,415 | ' | 18,415 | ' | 16,802 |
Accumulated amortization | 16,153 | ' | 16,153 | ' | 14,350 |
Assets Held under Capital Leases [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Accumulated amortization | 12,313 | ' | 12,313 | ' | 10,997 |
Internal Use Software [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Capitalized internal use software cost | 80 | ' | 80 | ' | ' |
Computer Software and Equipment [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Accumulated amortization | $6 | ' | $6 | ' | ' |
Accrued_Expenses_Accrued_Expen
Accrued Expenses - Accrued Expenses (Detail) (USD $) | Oct. 31, 2014 | Jan. 31, 2014 |
In Thousands, unless otherwise specified | ||
Payables and Accruals [Abstract] | ' | ' |
Accrued payroll | $1,660 | $1,603 |
Sales and withholding taxes | 762 | 3,158 |
Accrued commissions and bonuses | 1,369 | 2,456 |
Accrued income taxes payable | 702 | 571 |
Deferred rent, current portion | 603 | 602 |
Legal and professional | 649 | 489 |
Other accrued expenses | 970 | 1,406 |
Total accrued expenses | $6,715 | $10,285 |
Deferred_Rent_Additional_Infor
Deferred Rent - Additional Information (Detail) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Oct. 31, 2014 |
Deferred Revenue Disclosure [Abstract] | ' |
Tenant improvement allowance | $1,958 |
Total incentive | $148 |
Deferred_Rent_Deferred_Rent_De
Deferred Rent - Deferred Rent (Detail) (USD $) | Oct. 31, 2014 | Jan. 31, 2014 |
In Thousands, unless otherwise specified | ||
Deferred Revenue Disclosure [Abstract] | ' | ' |
Leasehold improvement incentive | $374 | $572 |
Non-cash rent expense | 789 | 861 |
Total deferred rent | 1,163 | 1,433 |
Less: current portion included in accrued expenses | -603 | -602 |
Deferred rent, net of current portion | $560 | $831 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements - Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value (Detail) (Money Market Funds [Member], USD $) | Oct. 31, 2014 | Jan. 31, 2014 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Money market funds | $16,013 | $15,008 |
Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Money market funds | $16,013 | $15,008 |
Acquired_Intangible_Assets_Car
Acquired Intangible Assets - Carrying Value of Intangible Assets (Detail) (USD $) | Oct. 31, 2014 | Jan. 31, 2014 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | $3,543 | $3,543 |
Accumulated Amortization | -1,061 | -798 |
Net Book Value | 2,482 | 2,745 |
Intellectual Property [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | 3,505 | 3,505 |
Accumulated Amortization | -1,023 | -760 |
Net Book Value | 2,482 | 2,745 |
Access to Facilities Contract [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Cost | 38 | 38 |
Accumulated Amortization | -38 | -38 |
Net Book Value | ' | ' |
Acquired_Intangible_Assets_Add
Acquired Intangible Assets - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 | Oct. 31, 2014 | Oct. 31, 2013 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' | ' |
Intangible assets amortization expense | $88 | $88 | $263 | $263 |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | Oct. 31, 2014 | Jan. 31, 2014 |
In Thousands, unless otherwise specified | ||
Contingencies And Commitments [Line Items] | ' | ' |
Royalties expenses already paid | $200 | ' |
Recorded liabilities for guarantees and indemnities | 0 | 0 |
Maximum [Member] | ' | ' |
Contingencies And Commitments [Line Items] | ' | ' |
Royalties due | $2,600 | ' |
StockBased_Compensation_Assump
Stock-Based Compensation - Assumptions Used to Calculate Fair Value of Common Stock Options for Employees and Directors (Detail) | 9 Months Ended | |
Oct. 31, 2014 | Oct. 31, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' |
Estimated dividend yield | 0.00% | 0.00% |
Expected stock price volatility | 47.40% | 50.60% |
Weighted-average risk-free interest rate | 2.20% | 2.20% |
Expected life of options (in years) | '6 years 3 months | '6 years 3 months |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2014 | Jun. 10, 2014 | Jun. 10, 2014 | Jun. 10, 2014 |
Performance Shares [Member] | 2011 Stock Incentive Plan [Member] | Amended And Restated Two Thousand Eleven Stock Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Weighted average grant date per share for stock options | $5.04 | $5.48 | ' | ' | ' |
Total unrecognized compensation cost | $4,424 | $4,424 | ' | ' | ' |
Weighted-average period | ' | '2 years 11 months 9 days | ' | ' | ' |
Common stock shares available to be issued | ' | ' | ' | 769,230 | 1,769,230 |
Options granted to purchase common stock | ' | ' | 292,500 | ' | ' |
StockBased_Compensation_StockB
Stock-Based Compensation - Stock-Based Compensation Expense Related to Stock Options and Restricted Stock Units Issued by the Company (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 | Oct. 31, 2014 | Oct. 31, 2013 |
Stock Based Compensation [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | $533 | $350 | $1,403 | $846 |
Cost of Revenues [Member] | ' | ' | ' | ' |
Stock Based Compensation [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | 52 | 35 | 134 | 99 |
Sales and Marketing [Member] | ' | ' | ' | ' |
Stock Based Compensation [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | 88 | 67 | 249 | 169 |
Research and Development [Member] | ' | ' | ' | ' |
Stock Based Compensation [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | 200 | 110 | 547 | 264 |
General and Administrative [Member] | ' | ' | ' | ' |
Stock Based Compensation [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | $193 | $138 | $473 | $314 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 | Oct. 31, 2014 | Oct. 31, 2013 | Apr. 30, 2014 |
State [Member] | |||||
Income Tax Disclosure [Line Items] | ' | ' | ' | ' | ' |
(Provision) benefit for income taxes | ($214) | ($128) | ($15,870) | $528 | ' |
Non-cash charged to valuation allowance | 14,506 | ' | 14,506 | ' | ' |
Threshold percentage for change in ownership | ' | ' | 50.00% | ' | ' |
Period of change in ownership | ' | ' | '3 years | ' | ' |
Operating loss carryforwards, 2015 | 14,032 | ' | 14,032 | ' | ' |
Operating loss carryforwards, 2016 | 16,758 | ' | 16,758 | ' | ' |
Operating loss carryforwards, 2017 | 16,758 | ' | 16,758 | ' | ' |
Operating loss carryforwards, 2018 | 16,758 | ' | 16,758 | ' | ' |
Operating loss carryforwards, 2019 | 16,758 | ' | 16,758 | ' | ' |
Operating loss carryforwards, 2020 | 8,046 | ' | 8,046 | ' | ' |
Operating loss carryforwards, thereafter | 6,366 | ' | 6,366 | ' | ' |
Deferred tax assets written off | ' | ' | 700 | ' | 700 |
State net operating loss carryforwards | $810 | ' | $810 | ' | ' |
Income tax examination, description | ' | ' | 'With limited exceptions, the Company is no longer subject to federal, state, local or foreign examinations for years prior to January 31, 2011. However, carryforward attributes that were generated prior to January 31, 2011 may still be adjusted upon examination by state or local tax authorities if they either have been or will be used in a future period. | ' | ' |
Geographic_Information_Revenue
Geographic Information - Revenue by Geographic Area (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Oct. 31, 2014 | Oct. 31, 2013 | Oct. 31, 2014 | Oct. 31, 2013 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenue | $15,958 | $14,108 | $44,571 | $39,300 |
United States [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenue | 4,332 | 3,099 | 10,616 | 8,588 |
Japan [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenue | 2,339 | 2,492 | 6,857 | 6,320 |
Germany [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenue | 3,026 | 2,615 | 8,555 | 7,273 |
France [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenue | 2,361 | 2,475 | 6,597 | 6,915 |
Korea [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenue | 1,319 | 1,211 | 3,974 | 3,498 |
United Kingdom [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenue | 1,220 | 1,233 | 3,609 | 3,497 |
Sweden [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenue | 501 | 489 | 1,846 | 1,716 |
Other [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenue | $860 | $494 | $2,517 | $1,493 |
Geographic_Information_Net_Lon
Geographic Information - Net Long-Lived Assets by Principal Geographic Areas (Detail) (USD $) | Oct. 31, 2014 | Jan. 31, 2014 |
In Thousands, unless otherwise specified | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Property and equipment, net | $7,644 | $7,356 |
United States [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Property and equipment, net | 6,575 | 6,098 |
France [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Property and equipment, net | 709 | 849 |
Germany [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Property and equipment, net | 162 | 117 |
Japan [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Property and equipment, net | 117 | 201 |
Other [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Property and equipment, net | $81 | $91 |