$COUR
Coursera, Inc.

2021 Q3 Form 10-Q Financial Statement

#000095017021001438 Filed on August 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $109.9M $102.1M $73.73M
YoY Change 32.91% 38.47% 61.15%
Cost Of Revenue $42.16M $41.16M $35.16M
YoY Change 8.19% 17.07% 61.51%
Gross Profit $67.72M $60.93M $38.57M
YoY Change 54.95% 57.98% 60.83%
Gross Profit Margin 61.63% 59.68% 52.31%
Selling, General & Admin $65.21M $65.71M $34.36M
YoY Change 81.28% 91.25% 74.58%
% of Gross Profit 96.3% 107.85% 89.08%
Research & Development $33.94M $41.00M $18.05M
YoY Change 72.96% 127.22% 41.76%
% of Gross Profit 50.11% 67.3% 46.79%
Depreciation & Amortization $4.137M $3.441M
YoY Change
% of Gross Profit 6.11% 5.65%
Operating Expenses $99.15M $106.7M $52.40M
YoY Change 78.34% 103.64% 61.69%
Operating Profit -$31.43M -$45.79M -$13.84M
YoY Change 164.36% 230.91% 64.13%
Interest Expense $62.00K $85.00K $12.00K
YoY Change -48.33% 608.33% -98.44%
% of Operating Profit
Other Income/Expense, Net -$286.0K $42.00K $34.00K
YoY Change -225.99% 23.53% -137.78%
Pretax Income -$31.65M -$45.66M -$13.55M
YoY Change 174.22% 236.98% 75.05%
Income Tax $800.0K $705.0K $367.0K
% Of Pretax Income
Net Earnings -$32.45M -$46.36M -$13.92M
YoY Change 173.46% 233.16% 76.82%
Net Earnings / Revenue -29.53% -45.41% -18.87%
Basic Earnings Per Share -$0.23 -$0.35
Diluted Earnings Per Share -$233.7K -$0.35 -$106.9K
COMMON SHARES
Basic Shares Outstanding 137.7M 131.8M
Diluted Shares Outstanding 138.8M 131.8M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $816.1M $800.7M
YoY Change
Cash & Equivalents $801.1M $749.6M $119.4M
Short-Term Investments $15.03M $51.09M
Other Short-Term Assets $36.62M $35.86M
YoY Change
Inventory
Prepaid Expenses
Receivables $35.96M $51.76M
Other Receivables $0.00 $0.00
Total Short-Term Assets $888.7M $888.4M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $24.52M $23.05M
YoY Change
Goodwill
YoY Change
Intangibles $10.30M $10.34M
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.22M $10.38M
YoY Change
Total Long-Term Assets $66.16M $65.22M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $888.7M $888.4M
Total Long-Term Assets $66.16M $65.22M
Total Assets $954.8M $953.6M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $44.33M $41.67M
YoY Change
Accrued Expenses $26.60M $23.44M
YoY Change
Deferred Revenue $91.37M $95.92M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $181.4M $177.1M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $573.0K $593.0K
YoY Change
Total Long-Term Liabilities $573.0K $593.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $181.4M $177.1M
Total Long-Term Liabilities $573.0K $593.0K
Total Liabilities $198.9M $198.2M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$441.0M -$408.6M
YoY Change
Common Stock $1.000K $1.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.701M $4.701M
YoY Change
Treasury Stock Shares $2.748M $2.748M
Shareholders Equity $756.0M $755.4M -$206.2M
YoY Change
Total Liabilities & Shareholders Equity $954.8M $953.6M
YoY Change

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$32.45M -$46.36M -$13.92M
YoY Change 173.46% 233.16% 76.82%
Depreciation, Depletion And Amortization $4.137M $3.441M
YoY Change
Cash From Operating Activities $10.74M -$5.450M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$3.841M -$3.408M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $36.00M $71.48M
YoY Change
Cash From Investing Activities $32.16M $68.07M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.525M 529.0M
YoY Change
NET CHANGE
Cash From Operating Activities 10.74M -5.450M
Cash From Investing Activities 32.16M 68.07M
Cash From Financing Activities 8.525M 529.0M
Net Change In Cash 51.42M 591.6M
YoY Change
FREE CASH FLOW
Cash From Operating Activities $10.74M -$5.450M
Capital Expenditures -$3.841M -$3.408M
Free Cash Flow $14.58M -$2.042M
YoY Change

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StockholdersEquity
-226089000
CY2021Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
462293000
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
518835000
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5720000
CY2021Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0
CY2021Q2 cour Adjustments To Additional Paid In Capital Vesting Of Early Exercise Stock Options
AdjustmentsToAdditionalPaidInCapitalVestingOfEarlyExerciseStockOptions
21000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
41010000
CY2021Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-18000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-46363000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-46363000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
755409000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
-186999000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2035000
cour Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
38000
cour Adjustments To Additional Paid In Capital Vesting Of Early Exercise Stock Options
AdjustmentsToAdditionalPaidInCapitalVestingOfEarlyExerciseStockOptions
136000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6896000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-68000
us-gaap Net Income Loss
NetIncomeLoss
-28230000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
-206192000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-221824000
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
462293000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
518835000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
14284000
cour Adjustments To Additional Paid In Capital Vesting Of Early Exercise Stock Options
AdjustmentsToAdditionalPaidInCapitalVestingOfEarlyExerciseStockOptions
42000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
46820000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-15000
us-gaap Net Income Loss
NetIncomeLoss
-65026000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
755409000
us-gaap Profit Loss
ProfitLoss
-28230000
us-gaap Profit Loss
ProfitLoss
-65026000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4364000
us-gaap Share Based Compensation
ShareBasedCompensation
6577000
us-gaap Share Based Compensation
ShareBasedCompensation
44459000
us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
187000
us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
-319000
us-gaap Other Noncash Expense
OtherNoncashExpense
25000
us-gaap Other Noncash Expense
OtherNoncashExpense
105000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
11497000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6371000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
11141000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7691000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4124000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2543000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2716000
cour Increase Decrease In Educator Partners And Other Accounts Payable
IncreaseDecreaseInEducatorPartnersAndOtherAccountsPayable
13202000
cour Increase Decrease In Educator Partners And Other Accounts Payable
IncreaseDecreaseInEducatorPartnersAndOtherAccountsPayable
-5274000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-431000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-4347000
cour Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-2822000
cour Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-3191000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
27992000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
20639000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3845000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9800000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
35633000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
98434000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
153981000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1737000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
739000
cour Payments To Capitalized Internal Use Software Costs
PaymentsToCapitalizedInternalUseSoftwareCosts
3669000
cour Payments To Capitalized Internal Use Software Costs
PaymentsToCapitalizedInternalUseSoftwareCosts
6598000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
57395000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
146113000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2073000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
14284000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
525284000
cour Payment Of Deferred Offering Costs
PaymentOfDeferredOfferingCosts
0
cour Payment Of Deferred Offering Costs
PaymentOfDeferredOfferingCosts
6110000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2073000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
533458000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
63313000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
669771000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
59845000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82426000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
123158000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
752197000
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
119354000
CY2021Q2 cour Restricted Cash In Prepaid Expenses And Other Current Assets
RestrictedCashInPrepaidExpensesAndOtherCurrentAssets
0
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
123158000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
752197000
us-gaap Interest Paid Net
InterestPaidNet
550000
us-gaap Interest Paid Net
InterestPaidNet
37000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
303000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
874000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
749649000
CY2020Q2 us-gaap Restricted Cash
RestrictedCash
3035000
CY2021Q2 us-gaap Restricted Cash
RestrictedCash
2548000
CY2020Q2 cour Restricted Cash In Prepaid Expenses And Other Current Assets
RestrictedCashInPrepaidExpensesAndOtherCurrentAssets
769000
cour Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
136000
cour Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
42000
cour Share Based Compensation Capitalized As Internal Use Software
ShareBasedCompensationCapitalizedAsInternalUseSoftware
319000
cour Share Based Compensation Capitalized As Internal Use Software
ShareBasedCompensationCapitalizedAsInternalUseSoftware
2361000
cour Unpaid Deferred Offering Costs
UnpaidDeferredOfferingCosts
0
cour Unpaid Deferred Offering Costs
UnpaidDeferredOfferingCosts
339000
CY2021Q2 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
72802000
CY2020Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
41607000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
80642000
CY2020Q2 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2021Q2 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:24.5pt;font-size:10.0pt;margin-top:12.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="color:rgba(0,0,0,1);font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">Use of Estimates</span><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">—The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and related disclosures 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 those estimates. On an ongoing basis, the Company evaluates its estimates, including those related to fair value of common stock and stock-based awards; period of benefit for capitalized commissions; internal-use software costs; useful lives of long-lived assets; the carrying value of operating lease right-of-use assets; valuation of intangible assets and income tax expense, including the valuation of deferred tax assets and liabilities, among others.</span><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:9.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:24.5pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The World Health Organization declared in March 2020 that the outbreak of the coronavirus disease (“COVID-19") constitutes a pandemic. The COVID-19 pandemic has caused general business disruption worldwide beginning in January 2020. The global impact of COVID-19 continues to rapidly evolve, and the Company will continue to monitor the situation and the effects on its business and operations closely. The Company does not yet know the full extent of potential impacts on its business or operations or on the global economy as a whole, particularly if the COVID-19 pandemic continues and persists for an extended period of time. Given the uncertainty, the Company cannot reasonably estimate the impact on its future results of operations, cash flows, or financial condition. As of the date of issuance of the condensed consolidated financial statements, the Company is not aware of any specific event or circumstance that would require it to update its estimates, judgments, or the carrying value of its assets or liabilities. These estimates may change as new events occur and additional information is obtained and are recognized in the condensed consolidated financial statements as soon as they become known. Actual results could differ from those estimates, and any such differences may be material to the Company’s condensed consolidated financial statements.</span></p><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:24.5pt;font-size:10.0pt;margin-top:12.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="color:rgba(0,0,0,1);font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">Concentration of Credit Risk</span><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">—Financial instruments that potentially subject the Company to concentration of credit risk consist of cash, cash equivalents, and marketable securities. The Company invests only in high-credit-quality instruments and maintains its cash equivalents and marketable securities in fixed-income securities. The Company places its cash primarily with domestic financial institutions that are federally insured within statutory limits.</span><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:24.5pt;font-size:10.0pt;margin-top:12.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">For purposes of assessing concentration of credit risk and significant customers, a group of customers under common control or customers that are affiliates of each other are regarded as a single customer. For the three and six months ended June 30, 2020 and 2021</span><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">, the Company did not have any customers that accounted for more than </span><span style="font-size:10.0pt;font-family:Times New Roman;color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">10</span><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">% of the Company’s revenue. As of December 31, 2020 and June 30, 2021, the Company had </span><span style="font-size:10.0pt;font-family:Times New Roman;color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">one</span><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> customer that accounted for </span><span style="font-size:10.0pt;font-family:Times New Roman;color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">21</span><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">% and </span><span style="font-size:10.0pt;font-family:Times New Roman;color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">19</span><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">% of its net accounts receivable balance, respectively.</span><span style="color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p>
CY2020Q1 us-gaap Billed Contract Receivables
BilledContractReceivables
16592000
CY2020Q4 us-gaap Billed Contract Receivables
BilledContractReceivables
39976000
CY2021Q2 us-gaap Billed Contract Receivables
BilledContractReceivables
47355000
CY2020Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
64000
CY2020Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
745000
CY2021Q2 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
4402000
CY2020Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
16656000
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
40721000
CY2021Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
51757000
CY2020Q1 us-gaap Other Liabilities And Deferred Revenue Noncurrent
OtherLiabilitiesAndDeferredRevenueNoncurrent
41607000
CY2020Q4 us-gaap Other Liabilities And Deferred Revenue Noncurrent
OtherLiabilitiesAndDeferredRevenueNoncurrent
80642000
CY2021Q2 us-gaap Other Liabilities And Deferred Revenue Noncurrent
OtherLiabilitiesAndDeferredRevenueNoncurrent
101281000
CY2020Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
20201000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000
CY2020Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0
CY2021Q2 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
34540000
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
44239000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
15896000
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
21190000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18644000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23049000
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
12583000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2013000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10570000
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
13352000
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3016000
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10336000
CY2020Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
366000
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
576000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
731000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1003000
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1207000
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
2389000
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
2352000
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
2358000
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1831000
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
199000
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10336000
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0271
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0154
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0164
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0169
CY2021Q2 cour Provision For Income Taxes
ProvisionForIncomeTaxes
0
CY2021Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
160143000
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
16803000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3563000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
39175000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6577000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
44459000
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
51883000
CY2020Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
75305400
CY2021Q2 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
0
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
32458408
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
27229539
CY2020Q4 cour Share Based Compensation Arrangement By Share Based Payment Award Options Rs Us Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsRSUsOutstanding
3276600
CY2021Q2 cour Share Based Compensation Arrangement By Share Based Payment Award Options Rs Us Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsRSUsOutstanding
6858686
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
8098484
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
17976705
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
119138892
CY2021Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
52064930
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13916000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-46363000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-28230000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-65026000
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
36185155
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
131804121
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
35925639
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
86761169
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.38
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.35
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.79
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.75
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100249119
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
34185457
us-gaap Gross Profit
GrossProfit
67463000
CY2021Q2 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
54083000
us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2021Q2 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
73728000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
102089000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
127575000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
190451000
CY2020Q2 cour Segment Gross Profit Loss
SegmentGrossProfitLoss
45686000
CY2021Q2 cour Segment Gross Profit Loss
SegmentGrossProfitLoss
71614000
cour Segment Gross Profit Loss
SegmentGrossProfitLoss
80427000
cour Segment Gross Profit Loss
SegmentGrossProfitLoss
129811000
CY2020Q2 cour Platform And Support Costs
PlatformAndSupportCosts
5185000
CY2021Q2 cour Platform And Support Costs
PlatformAndSupportCosts
7066000
cour Platform And Support Costs
PlatformAndSupportCosts
9413000
cour Platform And Support Costs
PlatformAndSupportCosts
13376000
CY2020Q2 cour Segment Share Based Compensation
SegmentShareBasedCompensation
115000
CY2021Q2 cour Segment Share Based Compensation
SegmentShareBasedCompensation
903000
cour Segment Share Based Compensation
SegmentShareBasedCompensation
225000
cour Segment Share Based Compensation
SegmentShareBasedCompensation
1010000
CY2020Q2 cour Total Reconciliation Item Of Segment Gross Profit To Gross Profit
TotalReconciliationItemOfSegmentGrossProfitToGrossProfit
7119000
CY2021Q2 cour Total Reconciliation Item Of Segment Gross Profit To Gross Profit
TotalReconciliationItemOfSegmentGrossProfitToGrossProfit
10687000
cour Total Reconciliation Item Of Segment Gross Profit To Gross Profit
TotalReconciliationItemOfSegmentGrossProfitToGrossProfit
12964000
cour Total Reconciliation Item Of Segment Gross Profit To Gross Profit
TotalReconciliationItemOfSegmentGrossProfitToGrossProfit
19347000
CY2020Q2 us-gaap Gross Profit
GrossProfit
38567000
CY2021Q2 us-gaap Gross Profit
GrossProfit
60927000
us-gaap Gross Profit
GrossProfit
110464000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
73728000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
102089000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
127575000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
190451000
CY2020Q4 us-gaap Noncurrent Assets
NoncurrentAssets
40266000
CY2021Q2 us-gaap Noncurrent Assets
NoncurrentAssets
41955000
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
101281000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
28864000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
56001000
CY2020Q2 cour Impairment Losses On Contract Assets
ImpairmentLossesOnContractAssets
0
cour Impairment Losses On Contract Assets
ImpairmentLossesOnContractAssets
0
CY2021Q2 cour Impairment Losses On Contract Assets
ImpairmentLossesOnContractAssets
0
cour Impairment Losses On Contract Assets
ImpairmentLossesOnContractAssets
0
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
224830000
CY2021Q2 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.62
CY2021Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2020Q2 cour Commissions And Related Payroll Tax Expenditures
CommissionsAndRelatedPayrollTaxExpenditures
2500000
CY2021Q2 cour Commissions And Related Payroll Tax Expenditures
CommissionsAndRelatedPayrollTaxExpenditures
3400000
CY2020Q2 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
814000
CY2021Q2 us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
1884000
cour Commissions And Related Payroll Tax Expenditures
CommissionsAndRelatedPayrollTaxExpenditures
3833000
cour Commissions And Related Payroll Tax Expenditures
CommissionsAndRelatedPayrollTaxExpenditures
5692000
us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
1584000
us-gaap Amortization Of Deferred Sales Commissions
AmortizationOfDeferredSalesCommissions
3550000
CY2020Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
5990000
CY2021Q2 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
6568000
CY2020Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
7546000
CY2021Q2 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
7154000
CY2020Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
264399000
CY2021Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
766553000
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
205382000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
21000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
205402000
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
51083000
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
5000
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
51088000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
205382000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
205402000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
51083000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
51088000

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