2019 Q2 Form 10-Q Financial Statement

#000139297219000110 Filed on July 25, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $63.88M $47.43M $47.91M
YoY Change 34.69% 17.37% 19.39%
Cost Of Revenue $23.58M $18.72M $19.52M
YoY Change 25.95% 16.4% 17.53%
Gross Profit $40.30M $28.70M $28.39M
YoY Change 40.39% 18.02% 20.7%
Gross Profit Margin 63.08% 60.52% 59.25%
Selling, General & Admin $34.99M $28.74M $28.26M
YoY Change 21.75% 6.61% 5.12%
% of Gross Profit 86.82% 100.11% 99.54%
Research & Development $17.46M $12.96M $14.78M
YoY Change 34.68% -7.93% 3.33%
% of Gross Profit 43.32% 45.15% 52.08%
Depreciation & Amortization $3.500M $3.260M $3.364M
YoY Change 7.36% 64.65% 65.47%
% of Gross Profit 8.69% 11.36% 11.85%
Operating Expenses $52.44M $41.70M $43.04M
YoY Change 25.77% 1.62% 4.5%
Operating Profit -$12.15M -$12.99M -$14.75M
YoY Change -6.53% -22.24% -16.53%
Interest Expense -$4.270M -$4.230M -$4.180M
YoY Change 0.95% 63.32% 74.9%
% of Operating Profit
Other Income/Expense, Net -$862.0K $244.0K $202.0K
YoY Change -453.28% -481.25% 531.25%
Pretax Income -$17.28M -$16.98M -$18.72M
YoY Change 1.8% -12.34% -6.52%
Income Tax $236.0K -$100.0K $132.0K
% Of Pretax Income
Net Earnings -$17.52M -$16.84M -$18.86M
YoY Change 4.0% -13.68% -6.69%
Net Earnings / Revenue -27.42% -35.52% -39.36%
Basic Earnings Per Share -$0.44 -$0.52 -$0.58
Diluted Earnings Per Share -$0.44 -$0.52 -$0.58
COMMON SHARES
Basic Shares Outstanding 39.41M shares 32.65M shares 32.38M shares
Diluted Shares Outstanding 39.41M shares 32.65M shares 32.38M shares

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $329.6M $141.9M $148.1M
YoY Change 132.28% -30.44% 25.61%
Cash & Equivalents $329.6M $141.9M $148.1M
Short-Term Investments
Other Short-Term Assets $12.60M $8.600M $10.00M
YoY Change 46.51% 22.86% 47.06%
Inventory
Prepaid Expenses
Receivables $53.10M $39.30M $29.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $395.3M $189.8M $187.2M
YoY Change 108.26% -22.29% 18.9%
LONG-TERM ASSETS
Property, Plant & Equipment $15.13M $14.86M $14.80M
YoY Change 1.83% 1.66% 0.07%
Goodwill $38.16M $38.44M $38.76M
YoY Change -0.73% 83.87% 91.47%
Intangibles $15.85M $22.92M $25.06M
YoY Change -30.87% 93.52% 107.53%
Long-Term Investments
YoY Change
Other Assets $5.832M $4.467M $4.239M
YoY Change 30.56% -29.96% -31.65%
Total Long-Term Assets $112.6M $91.65M $93.29M
YoY Change 22.91% 70.54% 75.0%
TOTAL ASSETS
Total Short-Term Assets $395.3M $189.8M $187.2M
Total Long-Term Assets $112.6M $91.65M $93.29M
Total Assets $507.9M $281.4M $280.5M
YoY Change 80.46% -5.55% 33.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.948M $4.725M $3.606M
YoY Change 47.05% -10.85% -42.33%
Accrued Expenses $13.31M $8.828M $5.329M
YoY Change 50.82% -15.28% -28.79%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $21.10M
YoY Change
Total Short-Term Liabilities $179.0M $115.2M $101.1M
YoY Change 55.38% 19.01% 7.11%
LONG-TERM LIABILITIES
Long-Term Debt $198.4M $219.1M $216.1M
YoY Change -9.45% 5.59% 74.27%
Other Long-Term Liabilities $751.0K $819.0K $853.0K
YoY Change -8.3% 25.04% 35.83%
Total Long-Term Liabilities $751.0K $819.0K $853.0K
YoY Change -8.3% 25.04% 35.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $179.0M $115.2M $101.1M
Total Long-Term Liabilities $751.0K $819.0K $853.0K
Total Liabilities $412.4M $350.1M $335.6M
YoY Change 17.8% 9.94% 45.54%
SHAREHOLDERS EQUITY
Retained Earnings -$327.1M -$264.2M -$247.3M
YoY Change 23.84% 32.09% 37.04%
Common Stock $45.00K $37.00K $37.00K
YoY Change 21.62% 2.78% 2.78%
Preferred Stock
YoY Change
Treasury Stock (at cost) $13.94M $13.94M $13.94M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 4.418M shares 4.418M shares 4.418M shares
Shareholders Equity $95.49M -$68.66M -$55.14M
YoY Change
Total Liabilities & Shareholders Equity $507.9M $281.4M $280.5M
YoY Change 80.46% -5.55% 33.1%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income -$17.52M -$16.84M -$18.86M
YoY Change 4.0% -13.68% -6.69%
Depreciation, Depletion And Amortization $3.500M $3.260M $3.364M
YoY Change 7.36% 64.65% 65.47%
Cash From Operating Activities -$3.540M -$3.580M -$4.732M
YoY Change -1.12% -60.75% -61.19%
INVESTING ACTIVITIES
Capital Expenditures -$1.700M -$1.580M $778.0K
YoY Change 7.59% 68.09% 60.74%
Acquisitions
YoY Change
Other Investing Activities -$70.00K $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$1.760M -$1.580M -$2.094M
YoY Change 11.39% 66.32% -123.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 62.28M -1.390M -$5.604M
YoY Change -4580.58% -101.44% 95.53%
NET CHANGE
Cash From Operating Activities -3.540M -3.580M -$4.732M
Cash From Investing Activities -1.760M -1.580M -$2.094M
Cash From Financing Activities 62.28M -1.390M -$5.604M
Net Change In Cash 56.98M -6.550M -$12.43M
YoY Change -969.92% -107.59% 102.71%
FREE CASH FLOW
Cash From Operating Activities -$3.540M -$3.580M -$4.732M
Capital Expenditures -$1.700M -$1.580M $778.0K
Free Cash Flow -$1.840M -$2.000M -$5.510M
YoY Change -8.0% -75.55% -56.54%

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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-34526000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-35962000 USD
us-gaap Net Income Loss
NetIncomeLoss
-34434000 USD
us-gaap Net Income Loss
NetIncomeLoss
-35700000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6829000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6620000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
6295000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
5929000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
12025000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
11398000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-252000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
215000 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-37000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2266000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
pro Accounts And Unbilled Receivables
AccountsAndUnbilledReceivables
11247000 USD
pro Accounts And Unbilled Receivables
AccountsAndUnbilledReceivables
7102000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1933000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
642000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3523000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
62000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-568000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1729000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
5231000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2114000 USD
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-4020000 USD
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-4327000 USD
us-gaap Increase Decrease In Deferred Revenue
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11435000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
11733000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-11644000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8310000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2307000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1187000 USD
pro Internal Use Software Development Costs Capitalized
InternalUseSoftwareDevelopmentCostsCapitalized
868000 USD
pro Internal Use Software Development Costs Capitalized
InternalUseSoftwareDevelopmentCostsCapitalized
2484000 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
68000 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
0 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
50000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3293000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3671000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1201000 USD
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
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us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
834000 USD
pro Tax Withholding Related To Net Share Settlement Of Restricted Stock Units
TaxWithholdingRelatedToNetShareSettlementOfRestrictedStockUnits
18642000 USD
pro Tax Withholding Related To Net Share Settlement Of Restricted Stock Units
TaxWithholdingRelatedToNetShareSettlementOfRestrictedStockUnits
8968000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
55000 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
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us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
648000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
pro Purchaseofcappedcall
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16445000 USD
pro Purchaseofcappedcall
Purchaseofcappedcall
0 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
75958000 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 USD
pro Proceedsfrombondhedgetermination
Proceedsfrombondhedgetermination
64819000 USD
pro Proceedsfrombondhedgetermination
Proceedsfrombondhedgetermination
0 USD
pro Paymentforwarranttermination
Paymentforwarranttermination
45243000 USD
pro Paymentforwarranttermination
Paymentforwarranttermination
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
48982000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-6988000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
41000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
331000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
34086000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-18638000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
295476000 USD
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
160505000 USD
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
329562000 USD
CY2018Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
141867000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
922000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
22000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
30470000 USD
CY2019Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
-4403000 USD
CY2019Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
44811000 USD
CY2019Q2 pro Adjustmenttoadditionalpaidincapitalterminationofbondhedgeandwarrant
Adjustmenttoadditionalpaidincapitalterminationofbondhedgeandwarrant
64819000 USD
CY2019Q2 pro Adjustmenttoadditionalpaidincapitalterminationofwarrant
Adjustmenttoadditionalpaidincapitalterminationofwarrant
-45243000 USD
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
32883000 USD
CY2019Q2 pro Adjustmenttoadditionalpaidincapitalpurchaseofcappedcall
Adjustmenttoadditionalpaidincapitalpurchaseofcappedcall
-16445000 USD
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5941000 USD
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
178000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-17517000 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
95494000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
-55139000 USD
CY2018Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
326000 USD
CY2018Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
-1713000 USD
CY2018Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5500000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-789000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-16844000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
-68659000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
54899000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
-18642000 USD
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
943000 USD
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
44811000 USD
pro Adjustmenttoadditionalpaidincapitalterminationofbondhedgeandwarrant
Adjustmenttoadditionalpaidincapitalterminationofbondhedgeandwarrant
64819000 USD
pro Adjustmenttoadditionalpaidincapitalterminationofwarrant
Adjustmenttoadditionalpaidincapitalterminationofwarrant
-45243000 USD
us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
32883000 USD
pro Adjustmenttoadditionalpaidincapitalpurchaseofcappedcall
Adjustmenttoadditionalpaidincapitalpurchaseofcappedcall
-16445000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11995000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-92000 USD
us-gaap Net Income Loss
NetIncomeLoss
-34434000 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
95494000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
-46979000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1201000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
-8968000 USD
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
834000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11491000 USD
pro Cumulativeeffectofadoptionofsection606
Cumulativeeffectofadoptionofsection606
9724000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-262000 USD
us-gaap Net Income Loss
NetIncomeLoss
-35700000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
-68659000 USD
us-gaap Nature Of Operations
NatureOfOperations
Organization and Nature of Operations<div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">    </span></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">PROS Holdings, Inc., a Delaware corporation, through its operating subsidiaries (collectively, the "Company"), provides artificial intelligence ("AI") solutions that power commerce in the digital economy by providing fast, frictionless and personalized buying experiences. PROS solutions enable dynamic buying experiences for both business-to-business ("B2B") and business-to-consumer ("B2C") companies across industry verticals. Companies can use the Company's dynamic pricing optimization, sales effectiveness, revenue management and commerce solutions to assess their market environments in real time to deliver customized prices and offers. The Company's solutions enable buyers to move fluidly across its customers’ direct sales, online, mobile and partner channels with personalized experiences regardless of which channel those customers choose. The Company's decades of data science and AI expertise are infused into its solutions and are designed to reduce time and complexity through actionable intelligence. The Company provides standard configurations of its software based on the industries it serves and offers professional services to configure these solutions to meet the specific needs of each customer.</span></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of estimates</span></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The Company makes estimates and assumptions in the preparation of its unaudited condensed consolidated financial statements, and its estimates and assumptions may affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates. The complexity and judgment required in the Company's estimation process, as well as issues related to the assumptions, risks and uncertainties inherent in determining the nature and timing of satisfaction of performance obligations and determining the standalone selling price of performance obligations, affect the amounts of revenue, expenses, unbilled receivables and deferred revenue. Estimates are also used for, but not limited to, receivables, allowance for doubtful accounts, operating lease right-of-use assets and operating lease liabilities, useful lives of assets, depreciation and amortization, income taxes and deferred tax asset valuation, valuation of stock options, other current liabilities and accrued liabilities. Numerous internal and external factors can affect estimates. The critical accounting policies related to estimates and judgments are discussed in the Annual Report under management's discussion and analysis of financial condition and results of operations and are also discussed under Item 2 </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">"Management's discussion and analysis of financial condition and results of operations</span><span style="font-family:inherit;font-size:10pt;">".</span></div>
CY2019Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
800000 USD
CY2018Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
200000 USD
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1300000 USD
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
300000 USD
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
CY2019Q2 us-gaap Cost Method Investments Fair Value Disclosure
CostMethodInvestmentsFairValueDisclosure
2100000 USD
CY2018Q4 us-gaap Cost Method Investments Fair Value Disclosure
CostMethodInvestmentsFairValueDisclosure
2000000.0 USD
CY2019Q2 pro Treasury Money Market Funds At Fair Value
TreasuryMoneyMarketFundsAtFairValue
294800000 USD
CY2018Q4 pro Treasury Money Market Funds At Fair Value
TreasuryMoneyMarketFundsAtFairValue
268600000 USD
us-gaap Revenue Recognition Customer Acquisitions
RevenueRecognitionCustomerAcquisitions
<div style="line-height:120%;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Deferred costs</span></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Sales commissions earned by the Company's sales representatives are considered incremental and recoverable costs of obtaining a customer contract. Sales commissions are deferred and amortized on a straight-line basis over the period of benefit, which the Company has determined to be five to eight years. The Company determined the period of benefit by taking into consideration its customer contracts, expected renewals of those customer contracts (as the Company currently does not pay an incremental sales commission), the Company's technology and other factors. The Company also defers amounts earned by employees other than sales representatives who earn incentive payments under compensation plans that are also tied to the value </span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">of customer contracts acquired. Deferred costs were </span><span style="font-family:inherit;font-size:10pt;"><span>$19.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$17.5 million</span></span><span style="font-family:inherit;font-size:10pt;"> as of </span><span style="font-family:inherit;font-size:10pt;">June 30, 2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">December 31, 2018</span><span style="font-family:inherit;font-size:10pt;">, respectively. Amortization expense for the deferred costs was </span><span style="font-family:inherit;font-size:10pt;"><span>$1.1 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$0.7 million</span></span><span style="font-family:inherit;font-size:10pt;"> for the three months ended </span><span style="font-family:inherit;font-size:10pt;">June 30, 2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively, and </span><span style="font-family:inherit;font-size:10pt;"><span>$2.2 million</span></span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;"><span>$1.4 million</span></span><span style="font-family:inherit;font-size:10pt;"> for the </span><span style="font-family:inherit;font-size:10pt;">six</span><span style="font-family:inherit;font-size:10pt;"> months ended </span><span style="font-family:inherit;font-size:10pt;">June 30, 2019</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">2018</span><span style="font-family:inherit;font-size:10pt;">, respectively.</span></div>
CY2019Q2 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
19400000 USD
CY2018Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
17500000 USD
CY2019Q2 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
1100000 USD
CY2018Q2 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
700000 USD
us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
2200000 USD
us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
1400000 USD
CY2019Q2 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
4700000 USD
CY2018Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
3900000 USD
CY2019Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
400000 USD
CY2018Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
100000 USD
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
600000 USD
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
200000 USD
us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Deferred revenue</span></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Deferred revenue primarily consists of customer invoicing in advance of revenues being recognized. The Company generally invoices its customers annually in advance for subscription services and maintenance and support services. Deferred revenue that is anticipated to be recognized during the next twelve-month period is recorded as current deferred revenue and the remaining portion is recorded as long-term.</span></div>
CY2019Q2 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2019Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
50000000.0 USD
CY2019Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
100000 USD
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000 USD
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-100000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
500000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.014
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.008
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.013
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2019Q2 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
43700000 USD
CY2018Q2 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
33000000.0 USD
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
67100000 USD
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
51700000 USD
CY2019Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
378000000.0 USD
CY2019Q2 pro Revenue Remaining Performance Obligationtoberecognizedwithin12months
RevenueRemainingPerformanceObligationtoberecognizedwithin12months
182700000 USD
us-gaap Sublease Income
SubleaseIncome
149000 USD
CY2019Q2 us-gaap Lease Cost
LeaseCost
2700000 USD
us-gaap Lease Cost
LeaseCost
5235000 USD
CY2019Q2 us-gaap Revenues
Revenues
63878000 USD
CY2019Q2 pro Percentage Of Total Revenue
PercentageOfTotalRevenue
1
CY2018Q2 us-gaap Revenues
Revenues
47426000 USD
CY2018Q2 pro Percentage Of Total Revenue
PercentageOfTotalRevenue
1
us-gaap Revenues
Revenues
120009000 USD
pro Percentage Of Total Revenue
PercentageOfTotalRevenue
1
us-gaap Revenues
Revenues
95336000 USD
pro Percentage Of Total Revenue
PercentageOfTotalRevenue
1
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
2244000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
4493000 USD
CY2019Q2 us-gaap Variable Lease Cost
VariableLeaseCost
588000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
891000 USD
CY2019Q2 us-gaap Sublease Income
SubleaseIncome
132000 USD
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
1866000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
2882000 USD
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y1M6D
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0765
CY2019Q2 pro Lessee Operating Lease Anticipated Incentives
LesseeOperatingLeaseAnticipatedIncentives
14207000 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
24740000 USD
CY2019Q2 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
1500000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3262000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5184000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
6030000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4588000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
4604000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
38716000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
62384000 USD
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
23437000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
4164000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1649000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
5115000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
6181000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
5679000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
57365000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
80153000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32514000 shares
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.44
us-gaap Net Income Loss
NetIncomeLoss
-34434000 USD
us-gaap Net Income Loss
NetIncomeLoss
-35700000 USD
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39413000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32651000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38518000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32514000 shares
CY2019Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39413000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32651000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38518000 shares
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.52
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.89
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.10
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.44
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.52
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.89
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.10
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5979000 USD
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5462000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12025000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11398000 USD
CY2019Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
51500000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y8M12D
CY2019Q2 pro Sharebasedcompensationarrangementbysharebasedpayment Minimum Employee Subscriptionrate
SharebasedcompensationarrangementbysharebasedpaymentMinimumEmployeeSubscriptionrate
0.01
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Maximum Employee Subscription Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumEmployeeSubscriptionRate
0.10
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Discount From Market Price Offering Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardDiscountFromMarketPriceOfferingDate
0.15
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Discount From Market Price Offering Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardDiscountFromMarketPriceOfferingDate
0.15
pro Maximum Amount Contributablebyemployeesunder Espp Halfyearly
MaximumAmountContributablebyemployeesunderESPPHalfyearly
5000 USD
pro Maximum Amount Contributable By Employees Under Espp Annually
MaximumAmountContributableByEmployeesUnderESPPAnnually
10000 USD
CY2019Q2 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
0 shares
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
35340 shares
pro Esp Pcontributionsby Employees
ESPPcontributionsbyEmployees
1100000 USD
CY2019Q2 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.02
CY2019Q2 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.02
CY2019Q2 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
350500000 USD
CY2018Q4 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
251500000 USD
us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
122100000 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
76000000.0 USD
us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
2180000 shares
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2300000 USD
CY2019Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
271606000 USD
CY2018Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
250000000 USD
CY2019Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
52057000 USD
CY2018Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
24810000 USD
CY2019Q2 us-gaap Convertible Debt
ConvertibleDebt
219549000 USD
CY2018Q4 us-gaap Convertible Debt
ConvertibleDebt
225190000 USD
CY2019Q2 us-gaap Debt Instrument Convertible Carrying Amount Of The Equity Component
DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent
70443000 USD
CY2018Q4 us-gaap Debt Instrument Convertible Carrying Amount Of The Equity Component
DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent
37560000 USD
CY2019Q2 us-gaap Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
1106000 USD
CY2018Q2 us-gaap Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
1250000 USD
us-gaap Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
2356000 USD
us-gaap Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
2500000 USD
CY2019Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
341000 USD
CY2018Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
352000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
706000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
701000 USD
CY2019Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
2827000 USD
CY2018Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
2624000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
5568000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
5204000 USD
CY2019Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
4274000 USD
CY2018Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
4226000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
8630000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
8405000 USD
pro Proceedsfrombondhedgetermination
Proceedsfrombondhedgetermination
64800000 USD
pro Paymentforwarranttermination
Paymentforwarranttermination
45200000 USD
pro Purchaseofcappedcall
Purchaseofcappedcall
16400000 USD
CY2019Q2 us-gaap Purchase Obligation
PurchaseObligation
68500000 USD

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