0001564590-21-041019 | 10-Q | XBRL Viewer

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2021	Aug. 02, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Registrant Name	Benefitfocus, Inc.
Entity Central Index Key	0001576169
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		33,346,288
Title of 12(b) Security	Common Stock, $0.001 Par Value
Trading Symbol	BNFT
Entity Incorporation, State or Country Code	DE
Security Exchange Name	NASDAQ
Entity File Number	001-36061
Entity Tax Identification Number	46-2346314
Entity Address, Address Line One	100 Benefitfocus Way
Entity Address, City or Town	Charleston
Entity Address, State or Province	SC
Entity Address, Postal Zip Code	29492
City Area Code	843
Local Phone Number	849-7476
Document Quarterly Report	true
Document Transition Report	false

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 98,062	$ 90,706
Marketable securities	95,107	95,085
Accounts receivable, net	20,886	22,240
Contract, prepaid and other current assets	18,838	21,354
Total current assets	232,893	229,385
Property and equipment, net	27,001	29,701
Financing lease right-of-use assets	60,291	68,670
Operating lease right-of-use assets	986	1,107
Intangible assets, net	9,257	10,393
Goodwill	12,857	12,857
Deferred contract costs and other non-current assets	9,011	10,259
Total assets	352,296	362,372
Current liabilities:
Accounts payable	3,639	2,160
Accrued expenses	8,177	6,262
Accrued compensation and benefits	14,223	19,129
Deferred revenue, current portion	28,202	27,782
Lease liabilities and financing obligations, current portion	7,104	5,959
Total current liabilities	61,345	61,292
Deferred revenue, net of current portion	3,387	4,422
Convertible senior notes	190,089	184,308
Lease liabilities and financing obligations, net current portion	78,344	79,282
Other non-current liabilities	2,629	2,470
Total liabilities	335,794	331,774
Commitments and contingencies	0	0
Redeemable preferred stock:
Series A preferred stock, par value $0.001, 5,000,000 shares authorized, 1,777,778 and 1,777,778 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively, liquidation preference $45 per share as of June 30, 2021 and December 31, 2020, respectively	79,193	79,193
Stockholders' deficit:
Common stock, par value $0.001, 95,000,000 and 50,000,000 shares authorized, 33,234,786 and 32,327,439 issued and outstanding at June 30, 2021 and December 31, 2020, respectively	33	32
Additional paid-in capital	430,451	427,431
Accumulated deficit	(493,175)	(476,058)
Total stockholders' deficit	(62,691)	(48,595)
Total liabilities, redeemable preferred stock and stockholders' deficit	$ 352,296	$ 362,372

Unaudited Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	1,777,778	1,777,778
Preferred stock, shares outstanding	1,777,778	1,777,778
Liquidation preference per share	$ 45	$ 45
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	95,000,000	50,000,000
Common stock, shares issued	33,234,786	33,234,786
Common stock, shares outstanding	32,327,439	32,327,439

Unaudited Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenue	$ 60,904	$ 62,174	$ 125,967	$ 128,328
Cost of revenue	28,030	30,397	56,623	64,309
Gross profit	32,874	31,777	69,344	64,019
Operating expenses:
Sales and marketing	10,921	11,828	21,812	27,458
Research and development	11,103	11,045	21,935	22,813
General and administrative	17,574	9,381	27,436	19,896
Restructuring costs	2,727	5,616	4,127	5,616
Total operating expenses	42,325	37,870	75,310	75,783
Loss from operations	(9,451)	(6,093)	(5,966)	(11,764)
Other income (expense):
Interest income	54	97	111	523
Interest expense	(5,646)	(5,862)	(11,201)	(11,753)
Other income	64	2	22	7
Total other expense, net	(5,528)	(5,763)	(11,068)	(11,223)
Loss before income taxes	(14,979)	(11,856)	(17,034)	(22,987)
Income tax expense	41	6	83	11
Net loss	(15,020)	(11,862)	(17,117)	(22,998)
Preferred dividends	(1,600)	(462)	(3,200)	(462)
Net loss available to common stockholders	(16,620)	(12,324)	(20,317)	(23,460)
Comprehensive loss	$ (15,020)	$ (11,862)	$ (17,117)	$ (22,998)
Net loss per common share:
Basic and diluted	$ (0.50)	$ (0.38)	$ (0.62)	$ (0.73)
Weighted-average common shares outstanding:
Basic and diluted	33,080,257	32,058,387	32,787,162	32,348,673

Unaudited Consolidated Statements of Changes in Stockholders' Deficit - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock, $0.001 Par Value	Common Stock, $0.001 Par Value Cumulative Effect, Period of Adoption, Adjustment	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjustment	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment
Balance at Dec. 31, 2019	$ (25,644)		$ 33		$ 426,025		$ (451,702)
Balance (in shares) at Dec. 31, 2019			32,788,980
Cumulative effect adjustment from adoption of credit standard (Accounting Standards Update 2019-12 [Member]) at Dec. 31, 2019		$ (59)		$ 0		$ 0		$ (59)
Exercise of stock options	73		$ 0		73		0
Exercise of stock options (in shares)			13,584
Issuance of common stock upon vesting of restricted stock units	0		$ 0		0		0
Issuance of common stock upon vesting of restricted stock units (in shares)			43,315
Stock-based compensation expense	3,677		$ 0		3,677		0
Common stock repurchased	(9,383)		$ (1)		(9,382)		0
Common stock repurchased (in shares)			(1,070,665)
Net loss	(11,136)		$ 0		0		(11,136)
Balance at Mar. 31, 2020	(42,472)		$ 32		420,393		(462,897)
Balance (in shares) at Mar. 31, 2020			31,775,214
Balance at Dec. 31, 2019	(25,644)		$ 33		426,025		(451,702)
Balance (in shares) at Dec. 31, 2019			32,788,980
Cumulative effect adjustment from adoption of credit standard (Accounting Standards Update 2019-12 [Member]) at Dec. 31, 2019		$ (59)		$ 0		$ 0		$ (59)
Net loss	(22,998)
Balance at Jun. 30, 2020	(51,605)		$ 32		423,122		(474,759)
Balance (in shares) at Jun. 30, 2020			32,175,444
Balance at Mar. 31, 2020	(42,472)		$ 32		420,393		(462,897)
Balance (in shares) at Mar. 31, 2020			31,775,214
Exercise of stock options	69		$ 0		69		0
Exercise of stock options (in shares)			10,685
Issuance of common stock upon vesting of restricted stock units	0		$ 0		0		0
Issuance of common stock upon vesting of restricted stock units (in shares)			416,848
Issuance of common stock under Employee Stock Purchase Plan, or ESPP	83		$ 0		83		0
Issuance of common stock under Employee Stock Purchase Plan, or ESPP (in shares)			8,205
Stock-based compensation expense	3,323		$ 0		3,323		0
Common stock repurchased	(284)		$ 0		(284)		0
Common stock repurchased (in shares)			(35,508)
Preferred dividends	(462)		$ 0		(462)		0
Net loss	(11,862)		0		0		(11,862)
Balance at Jun. 30, 2020	(51,605)		$ 32		423,122		(474,759)
Balance (in shares) at Jun. 30, 2020			32,175,444
Balance at Dec. 31, 2020	$ (48,595)		$ 32		427,431		(476,058)
Balance (in shares) at Dec. 31, 2020	32,327,439		32,327,439
Exercise of stock options	$ 155		$ 1		154		0
Exercise of stock options (in shares)			15,000
Issuance of common stock upon vesting of restricted stock units	0		$ 0		0		0
Issuance of common stock upon vesting of restricted stock units (in shares)			173,731
Stock-based compensation expense	1,523		$ 0		1,523		0
Preferred dividends	(1,600)		0		(1,600)		0
Net loss	(2,097)		0		0		(2,097)
Balance at Mar. 31, 2021	(50,614)		$ 33		427,508		(478,155)
Balance (in shares) at Mar. 31, 2021			32,516,170
Balance at Dec. 31, 2020	$ (48,595)		$ 32		427,431		(476,058)
Balance (in shares) at Dec. 31, 2020	32,327,439		32,327,439
Net loss	$ (17,117)
Balance at Jun. 30, 2021	$ (62,691)		$ 33		430,451		(493,175)
Balance (in shares) at Jun. 30, 2021	32,327,439		33,234,786
Balance at Mar. 31, 2021	$ (50,614)		$ 33		427,508		(478,155)
Balance (in shares) at Mar. 31, 2021			32,516,170
Exercise of stock options	102		$ 0		102		0
Exercise of stock options (in shares)			9,250
Issuance of common stock upon vesting of restricted stock units	0		$ 0		0		0
Issuance of common stock upon vesting of restricted stock units (in shares)			704,543
Issuance of common stock under Employee Stock Purchase Plan, or ESPP	65		$ 0		65		0
Issuance of common stock under Employee Stock Purchase Plan, or ESPP (in shares)			4,823
Stock-based compensation expense	4,376		$ 0		4,376		0
Preferred dividends	(1,600)		0		(1,600)		0
Net loss	(15,020)		0		0		(15,020)
Balance at Jun. 30, 2021	$ (62,691)		$ 33		$ 430,451		$ (493,175)
Balance (in shares) at Jun. 30, 2021	32,327,439		33,234,786

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net loss	$ (17,117)	$ (22,998)
Adjustments to reconcile net loss to net cash and cash equivalents provided by (used in) operating activities:
Depreciation and amortization	12,525	12,105
Stock-based compensation expense	5,899	7,000
Accretion of interest on convertible senior notes	5,780	5,894
Interest accrual on finance lease liabilities	3,244	44
Rent expense less than payments	(27)	(16)
Non-cash interest income on short-term investments	506	0
Impairment or loss on disposal of right-of-use assets and property and equipment	4,048	0
Provision for doubtful accounts	0	111
Changes in operating assets and liabilities:
Accounts receivable, net	1,354	3,711
Accrued interest on short-term investments	(101)	0
Contract, prepaid and other current assets	2,410	3,672
Deferred costs and other non-current assets	1,249	740
Accounts payable and accrued expenses	3,520	(7,318)
Accrued compensation and benefits	(4,907)	(4,139)
Deferred revenue	(615)	(2,850)
Other non-current liabilities	159	1,910
Net cash and cash equivalents provided by (used in) operating activities	17,927	(2,134)
Cash flows from investing activities
Purchases of short-term investments held to maturity	(48,427)	0
Proceeds from short-term investments held to maturity	48,000	0
Purchases of property and equipment	(4,483)	(7,075)
Net cash and cash equivalents used in investing activities	(4,910)	(7,075)
Cash flows from financing activities
Draws on revolving line of credit	0	10,000
Payments on revolving line of credit	0	(10,000)
Payments of debt issuance costs	0	(154)
Proceeds from issuance of preferred stock, net of issuance costs	0	79,840
Payments of preferred dividends	(3,200)	(462)
Repurchase of common stock	0	(9,667)
Proceeds from exercises of stock options and ESPP	322	225
Payments on financing obligations	(224)	(416)
Payments of principal on finance lease liabilities	(2,559)	(7,637)
Net cash and cash equivalents (used in) provided by financing activities	(5,661)	61,729
Net increase in cash and cash equivalents	7,356	52,520
Cash and cash equivalents, beginning of period	90,706	130,976
Cash and cash equivalents, end of period	98,062	183,496
Supplemental disclosure of non-cash investing and financing activities
Property and equipment purchases in accounts payable and accrued expenses	$ 0	$ 37

Organization and Description of Business

6 Months Ended

Jun. 30, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and Description of Business

1. Organization and Description of Business

Benefitfocus, Inc. (the “Company”) provides a leading cloud-based benefits management platform for consumers, employers, health plans (also known as insurance carriers) and brokers that is designed to simplify how organizations and individuals transact benefits. The financial statements of the Company include the financial position and operations of its wholly owned subsidiaries, Benefitfocus.com, Inc. and BenefitStore, Inc.

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Principles of Consolidation

These consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in the consolidation. The Company is not the primary beneficiary of, nor does it have a controlling financial interest in, any variable interest entity. Accordingly, the Company has not consolidated any variable interest entity.

Interim Unaudited Consolidated Financial Information

The accompanying unaudited consolidated financial statements and footnotes have been prepared in accordance with GAAP as contained in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (the “Codification” or “ASC”) for interim financial information, and with Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the interim financial information includes all adjustments of a normal recurring nature necessary for a fair presentation of the results of operations and comprehensive loss, financial position, changes in stockholders’ deficit and cash flows. The results of operations and comprehensive loss for the three- and six-month period ended June 30, 2021 are not necessarily indicative of the results for the full year or for any other future period. These unaudited consolidated financial statements should be read in conjunction with the audited financial statements and related footnotes for the year ended December 31, 2020 included in the Company’s Annual Report on Form 10-K, as amended.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Such estimates include allowances for doubtful accounts and returns, valuations of deferred income taxes, long-lived assets, capitalizable software development costs and the related amortization, incremental borrowing rate used in lease accounting, the determination of the useful lives of assets, and the impairment assessment of acquired intangibles and goodwill. Additionally as described in revenue and deferred revenue below, estimates are utilized in association with revenue recognition, in particular the estimation of variable consideration using the expected value method from insurance broker commissions reported in Platform revenue. Determination of these transactions and account balances are based on, among other things, the Company’s estimates and judgments. These estimates are based on the Company’s knowledge of current events and actions it may undertake in the future as well as on various other assumptions that it believes to be reasonable. Actual results could differ materially from these estimates.

Restructuring Costs

During January 2021, the Company recorded restructuring costs of $1,400 from a reduction to its workforce. In June 2021, the Company recorded restructuring costs of $2,727 from the elimination of the office of the executive chairman of the board of directors. Restructuring costs are comprised of one-time severance charges, continuation of health benefits and outplacement services and are presented separately in operating expenses in the consolidated statements of operations and comprehensive loss.

Revenue and Deferred Revenue

The Company derives its revenue primarily from fees for subscription services and professional services sold to employers and health plans as well as platform revenue derived from the value of products sold on its platform. Revenue is recognized when control of these services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services. Taxes collected from customers relating to services and remitted to governmental authorities are excluded from revenue.

The Company determines revenue recognition through the following steps:

•

Identification of each contract with a customer;

•

Identification of the performance obligations in the contract;

•

Determination of the transaction price;

•

Allocation of the transaction price to the performance obligations in the contract; and

•

Recognition of revenue when, or as, performance obligations are satisfied.

Software Services Revenue

Software services revenue consists of subscription revenue and platform revenue.

Subscription Revenue

Subscription revenue primarily consists of monthly or annual subscription fees paid to the Company by its employer and health plan customers for access to, and usage of, cloud-based benefits software solutions for a specified contract term. Fees are generally charged based on the number of employees or subscribers with access to the solution.

Subscription services revenue is generally recognized on a ratable basis over the contract term beginning on the date the subscription services are made available to the customer. The Company’s subscription service contracts are generally three years.

Subscription revenue also includes fees paid for other services, such as event sponsorships and certain data services.

Platform Revenue

Platform revenue is generated from the value of policies or products enrolled in through the Company’s marketplace. Platform revenue from insurance carriers is generally recognized over the policy period of the enrolled products. In arrangements where the Company sells policies to employees of its customers as the broker, it earns broker commissions. Revenue from insurance broker commissions and supplier transactions is recognized at a point in time when the orders for the policies are received and transferred to the insurance carrier or supplier, and is reduced by constraints for variable consideration associated with collectability, policy cancellation and termination risks.

Professional Services Revenue

Professional services revenue primarily consists of fees related to the implementation of software products purchased by customers. Professional services typically include discovery, configuration and deployment, integration, testing, and training. Fees from consulting services and support services are also included in professional services revenue.

The Company determined that implementation services for certain of its health plan customers significantly modify or customize the software solution and, as such, do not represent a distinct performance obligation. Accordingly, revenue from such implementation services with these health plan customers are generally recognized over the contract term of the associated subscription services contract, including any extension periods representing a material right. In certain arrangements, the Company utilizes estimates of hours as a measure of progress to determine revenue.

Revenue from implementation services with employer customers is generally recognized as those services are performed.

Revenue from support and training fees is recognized over the service period.

Contracts with Multiple Performance Obligations

Certain of the Company’s contracts with customers contain multiple performance obligations. For these contracts, the individual performance obligations are accounted for separately if they are distinct. The Company allocates the transaction price to the separate performance obligations based on their relative standalone selling prices. The Company determines the standalone selling prices based on its overall pricing objectives, taking into consideration market conditions and other factors, including the value of its contracts, the subscription services sold, customer size and complexity, and the number and types of users under the contracts.

Contract Costs

The Company capitalizes costs to obtain contracts that are considered incremental and recoverable, such as sales commissions. Payments of sales commissions generally include multiple payments. The Company capitalizes only those payments made within an insignificant time from the contract inception, typically three months or less. Subsequent payments are expensed as incurred. The capitalized costs are amortized to sales and marketing expense over the estimated period of benefit of the asset, which is generally four to five years. The Company expenses the costs to obtain a contract when the amortization period is less than one year. Deferred costs related to obtaining contracts are included in deferred contract costs and other non-current assets.

The Company capitalizes contract fulfillment costs directly associated with customer contracts that are not related to satisfying performance obligations. The costs are amortized to cost of revenue expense over the estimated period of benefit, which is generally five years. Deferred fulfillment costs are included in deferred contract costs and other non-current assets.

The following tables present information about deferred contract costs:

Balance of deferred contract costs

As of

June 30,

2021

As of

December 31,

2020

Costs to obtain contracts

4,775

5,624

Costs to fulfill contracts

3,268

3,639

	Three Months Ended June 30,				Six Months Ended June 30,
Amortization of deferred contract costs	2021		2020		2021		2020
Costs to obtain contracts included in sales and marketing expense	$	778	$	831	$	1,523	$	1,712
Costs to fulfill contracts included in cost of revenue	$	339	$	307	$	690	$	682

Marketable Securities

Marketable securities consist of short-term investments in corporate bonds, commercial paper, and U.S. Treasury and agency bonds. To reflect its intention, the Company classifies its marketable securities as held-to-maturity at the time of purchase. As a result, the marketable securities are recorded at amortized cost and any gains or losses realized upon maturity are reported in other expense, net in the consolidated statements of operations and comprehensive loss.

Debt securities classified as held-to-maturity are subject to the expected credit loss model prescribed under Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments”. The Company utilizes a lifetime expected credit loss measurement objective for the recognition of credit losses for held-to-maturity securities at the time the financial asset is originated or acquired. The Company measures expected credit losses on its held-to-maturity portfolio on a collective basis by major security type. The expected credit losses are adjusted each period for changes in expected lifetime credit losses. The Company’s credit loss calculations for held-to-maturity securities are based upon historical default and recovery rates of bonds rated with the same rating as its portfolio. An adjustment factor is applied to these credit loss calculations based upon the Company’s assessment of the expected impact from current economic conditions on its investments. The Company monitors the credit quality of debt securities classified as held-to-maturity through the use of their respective credit rating and updates them on a quarterly basis. The allowance for credit losses is discussed in Note 5.

Concentrations of Credit Risk

The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash equivalents, marketable securities, and accounts receivable. All of the Company’s cash and cash equivalents are held at financial institutions that management believes to be of high credit quality. The bank deposits of the Company might at times, exceed federally insured limits and are generally uninsured and uncollateralized. The Company has not experienced any losses on cash and cash equivalents to date.

To manage credit risk related to marketable securities, the Company invests in various types of highly rated corporate bonds, commercial paper, and various United States backed securities with maturities of less than two years. The weighted average maturity of the portfolio of investments must not exceed nine months, per the Company’s investment policy.

To manage accounts receivable risk, the Company evaluates the creditworthiness of its customers and maintains an allowance for doubtful accounts. Accounts receivable are unsecured and derived from revenue earned from customers located in the United States. No customer exceeded 10% of accounts receivable as of June 30, 2021 and December 31, 2020. No customer exceeded 10% of total revenue in any of the three and six-month periods ended June 30, 2021 and 2020.

Allowance for Doubtful Accounts

The Company uses a current expected credit loss model. Accounts receivable and allowance for doubtful accounts are discussed in Note 6.

Capitalized Software Development Costs

The Company capitalizes certain costs related to its software developed or obtained for internal use. Costs related to preliminary project activities and post-implementation activities are expensed as incurred. Internal and external costs incurred during the application development stage, including upgrades and enhancements representing modifications that will result in significant additional functionality, are capitalized. Software maintenance and training costs are expensed as incurred. Capitalized costs are recorded as part of property and equipment and are amortized on a straight-line basis to cost of revenue over the software’s estimated useful life, which is three years. The Company evaluates these assets for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets.

The following tables present information about capitalized software development costs:

	Three Months Ended June 30,				Six Months Ended June 30,
Capitalized software development costs	2021		2020		2021		2020
Capitalized	$	1,991	$	3,100	$	3,739	$	6,572
Amortized	$	2,159	$	1,727	$	4,321	$	3,246

Capitalized software development costs

As of

June 30,

2021

As of

December 31,

2020

Net book value

17,360

17,942

Leases

The Company periodically enters into finance leases for property and equipment. The leasing arrangements for the Company’s office space at its headquarters campus are classified as finance leases. The Company also leases office space under operating leases.

The Company determines if an arrangement is a lease at inception. Right of use, or ROU, assets represent the Company’s right to use an underlying asset for the lease term. Lease liabilities represent an obligation to make lease payments arising from the lease. Leases with a term of 12 months or less are not included in the recognized ROU assets and lease liabilities for all classes of assets.

ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Because the Company’s operating leases do not provide an implicit interest rate, the Company uses its incremental borrowing rate based on information available at commencement date to determine the present value of lease payments. The ROU asset also consists of any prepaid lease payments, lease incentives, or initial direct costs. The lease terms used to calculate the ROU asset and related lease liability include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.

Lease expense for operating leases is recognized on a straight-line basis over the lease term as an operating expense while the expense for finance leases is recognized as depreciation expense and interest expense. The Company has lease agreements which require payments for lease and non-lease components (e.g. common area maintenance and equipment maintenance) that are accounted for as a single lease component. Variable lease payment amounts that cannot be determined at the commencement of the lease, such as maintenance costs based on future obligations, are not included in the ROU assets or liabilities. These are expensed as incurred and recorded as variable lease expense.

Comprehensive Loss

The Company’s net losses equal comprehensive losses for all periods presented. Presentation of the prior year comprehensive losses has been updated to reflect the exclusion of preferred dividends.

Recently Adopted Accounting Standards

On January 1, 2021, the Company adopted ASU No. 2019-12. The purpose of this ASU is to simplify various aspects related to accounting for income taxes, eliminate certain exceptions to the general principles in ASC Topic 740 related to intra-period tax allocation, simplify when companies recognize deferred taxes in an interim period, and clarify certain aspects of the current guidance to promote consistent application. ASU No. 2019-12 had no impact on the Company’s consolidated financial statements.

Accounting Standards Not Yet Adopted

In August 2020, the FASB issued ASU No. 2020-06, “Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40)”. The update simplifies the accounting for convertible debt instruments and convertible preferred stock by reducing the number of accounting models and the number of embedded conversion features that could be recognized separately from the primary contract. This ASU also enhances transparency and improves disclosures for convertible instruments and earnings per share guidance. It will be effective for the Company beginning January 1, 2022. This ASU permits the use of either the modified retrospective or fully retrospective method of transition. The Company is currently evaluating the impact of the adoption of ASU 2020-06 on its consolidated financial statements, but anticipates that it will result in a reduction in non-cash interest expense related to its convertible senior notes.

Net Loss Per Common Share

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Net Loss Per Common Share

3. Net Loss Per Common Share

Diluted loss per common share is the same as basic loss per common share for all periods presented because the effects of potentially dilutive items were anti-dilutive given the Company’s net loss.

The following common share equivalent securities have been excluded from the calculation of weighted average common shares outstanding because the effect is anti-dilutive for the periods presented:

	Three Months Ended June 30,				Six Months Ended June 30,
Anti-Dilutive Common Share Equivalents	2021		2020		2021		2020
Restricted stock units		3,351,575		2,930,636		3,351,575		2,930,636
Stock options		97,553		151,178		97,553		151,178
Convertible senior notes		4,161,182		4,513,824		4,161,182		4,513,824
Conversion of preferred stock		5,333,334		5,333,334		5,333,334		5,333,334
Total anti-dilutive common share equivalents		12,943,644		12,928,972		12,943,644		12,928,972

Basic and diluted net loss per common share is calculated as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
Numerator:
Net loss	$	(15,020	)	$	(11,862	)	$	(17,117	)	$	(22,998	)
Preferred dividends		(1,600	)		(462	)		(3,200	)		(462	)
Net loss attributable to common stockholders	$	(16,620	)	$	(12,324	)	$	(20,317	)	$	(23,460	)
Denominator:
Weighted-average common shares outstanding, basic and diluted		33,080,257			32,058,387			32,787,162			32,348,673
Net loss per common share, basic and diluted	$	(0.50	)	$	(0.38	)	$	(0.62	)	$	(0.73	)

Fair Value Measurement

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurement

4. Fair Value Measurement

The carrying amounts of certain of the Company’s financial instruments, including cash and cash equivalents, accounts payable and other accrued liabilities, and accrued compensation and benefits, approximate fair value due to their short-term nature. The carrying value of the Company’s financing obligations approximates fair value, considering the borrowing rates currently available to the Company with similar terms and credit risks.

The Company uses a three-tier fair value hierarchy to classify and disclose all assets and liabilities measured at fair value on a recurring basis, as well as assets and liabilities measured at fair value on a non-recurring basis, in periods subsequent to their initial measurement. The hierarchy requires the Company to use observable inputs when available, and to minimize the use of unobservable inputs when determining fair value. The three tiers are defined as follows:

Level 1.

Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2.

Other inputs that are directly or indirectly observable in the marketplace.

Level 3.

Unobservable inputs for which there is little or no market data, which require the Company to develop its own assumptions.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The Company evaluates its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level to classify them for each reporting period. This determination requires significant judgments to be made.

The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis using the above categories, as of the periods presented.

	June 30, 2021
Description	Level 1		Level 2		Level 3		Total
Cash Equivalents:
Money market mutual funds⁽¹⁾	$	92,451	$	—	$	—	$	92,451
Total assets	$	92,451	$	—	$	—	$	92,451

	December 31, 2020
Description	Level 1		Level 2		Level 3		Total
Cash Equivalents:
Money market mutual funds⁽¹⁾	$	87,224	$	—	$	—	$	87,224
Total assets	$	87,224	$	—	$	—	$	87,224

________________

(1)

Money market mutual funds are classified as cash equivalents in the Company’s unaudited consolidated balance sheets. As short-term, highly liquid investments readily convertible to known amounts of cash, with remaining maturities of three months or less at the time of purchase. The Company’s cash equivalent money market funds have carrying values that approximate fair value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Marketable Securities

6 Months Ended

Jun. 30, 2021

Marketable Securities [Abstract]

Marketable Securities

5. Marketable Securities

Marketable securities consist of corporate bonds, commercial paper and U.S. Treasury and agency bonds, and are classified as held-to-maturity. All marketable securities had contractual maturities of less than one year as of June 30, 2021 and December 31, 2020. The following tables present information about the Company’s marketable securities by major security type.

	As of June 30, 2021
Sector	Amortized cost		Allowance for credit losses		Net carrying amount		Gross unrealized gains		Gross unrealized losses		Fair value
Industrial	$	4,538	$	-	$	4,538	$	-	$	-	$	4,538
Financial		60,487		-		60,487		2		-		60,489
Government		30,082		-		30,082		2		-		30,084
Total	$	95,107	$	-	$	95,107	$	4	$	-	$	95,111

	As of December 31, 2020
Sector	Amortized cost		Allowance for credit losses		Net carrying amount		Gross unrealized gains		Gross unrealized losses			Fair value
Industrial	$	8,993	$	-	$	8,993	$	-	$	-		$	8,993
Financial		55,943		-		55,943		-		(5	)		55,938
Government		30,149		-		30,149		6		-			30,155
Total	$	95,085	$	-	$	95,085	$	6	$	(5	)	$	95,086

The fair value of marketable securities in the Government major security type is classified as a Level 1 in the Company’s fair value hierarchy described in Note 4. The fair values of the remaining major security types are classified as Level 2.

The Company invests in highly rated securities with maturities of two years or less at the time of purchase. Given the credit quality of the financial assets and the historical loss experience associated with their respective credit ratings as well as the duration of these financial assets and the short time horizon over which to consider expectations of future economic conditions, the Company has assessed that non-collection of the cost basis of these financial assets is remote.

Accounts receivable, Net

6 Months Ended

Jun. 30, 2021

Accounts Receivable Net [Abstract]

Accounts Receivable, Net

6. Accounts Receivable, net

Accounts receivable, net include:

	As of June 30, 2021			As of December 31, 2020
Accounts receivable	$	24,125		$	26,791
Less: Allowance for doubtful accounts		(218	)		(200	)
Less: Allowance for returns		(3,021	)		(4,351	)
Total accounts receivable, net	$	20,886		$	22,240

Accounts receivable are stated at their amortized cost adjusted for any write-offs and net allowances for returns. The Company estimates expected credit losses related to accounts receivable balances based on a review of available and relevant information including current economic conditions, projected economic conditions, historical loss experience, account aging, and other factors that could affect collectability. Expected credit losses are determined individually or collectively depending on whether the accounts receivable balances share similar risk characteristics. The allowance for doubtful accounts is the best estimate of the amount of expected credit losses related to existing accounts receivable. The Company does not have any off-balance sheet credit exposure related to its customers.

	Six Months Ended June 30,
Allowance for doubtful accounts	2021			2020
Beginning of period	$	200		$	155
Provision for credit losses		44			187
Write-offs and recoveries		(26	)		(44	)
End of period	$	218		$	298

The allowances for returns are accounted for as reductions of revenue and are estimated based on the Company’s periodic assessment of historical experience and trends. The Company considers factors such as historical reasons for adjustments, service and delivery issues or delays, and past due customer billings.

Convertible Senior Notes

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Convertible Senior Notes

7. Convertible Senior Notes

In December 2018, the Company issued $240,000 aggregate principal amount of 1.25% convertible senior notes (“Notes”) due December 15, 2023, unless earlier repurchased by the Company or converted by the holder pursuant to their terms. Interest is payable semiannually in arrears on June 15 and December 15 of each year, commencing on June 15, 2019.

The Notes are governed by an Indenture between the Company, as issuer, and U.S. Bank, National Association, as trustee. The Notes are unsecured and rank: senior in right of payment to the Company’s future indebtedness that is expressly subordinated in right

of payment to the Notes; equal in right of payment to the Company’s unsecured indebtedness that is not subordinated; effectively junior in right of payment to any of the Company’s senior, secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities incurred by the Company’s subsidiaries.

Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of common stock, at the Company’s election.

At issuance, the Notes had an initial conversion rate of 18.8076 shares of common stock per $1 principal amount of Notes, which represented an initial effective conversion price of approximately $53.17 per share of common stock and 4,513,824 shares issuable upon conversion. Throughout the term of the Notes, the conversion rate may be adjusted upon the occurrence of certain events. Holders of the Notes will not receive any cash payment representing accrued and unpaid interest, if any, upon conversion of a Note, except in limited circumstances. Accrued but unpaid interest will be deemed to be paid by cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock paid or delivered, as the case may be, to the holder upon conversion of Notes.

Prior to the close of business on September 14, 2023, the Notes will be convertible at the option of holders during certain periods, only upon satisfaction of certain conditions set forth below. On or after September 15, 2023, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their Notes at the conversion price at any time regardless of whether the conditions set forth below have been met.

Holders may convert all or a portion of their Notes prior to the close of business on September 14, 2023, in multiples of $1 principal amount, only under the following circumstances:

•

during any calendar quarter commencing after the calendar quarter ending on March 31, 2019 (and only during such calendar quarter), if the last reported sales price of the common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day;

•

during the five business day period after any five consecutive trading day period, or the Notes measurement period, in which the “trading price” (as defined in the Indenture) per $1 principal amount of notes for each trading day of the Notes measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day;

•

if the Company calls any or all of the Notes for redemption, at any time prior to the close of business on September 14, 2023; or

•

upon the occurrence of specified corporate events.

As of June 30, 2021, the Notes were not convertible.

Based on market data available for publicly traded, senior, unsecured corporate bonds issued by companies in the same industry and with similar maturity, the Company estimated the implied market interest rate of its Notes to be approximately 7.30%, assuming no conversion option. Assumptions used in the estimate represent what market participants would use in pricing the liability component of the Notes, including market interest rates, credit standing, and yield curves, all of which are defined as Level 2 observable inputs. The estimated implied interest rate was applied to the Notes, which resulted in a fair value of the liability component of $181,500 upon issuance, calculated as the present value of future contractual payments based on the $240,000 aggregate principal amount. The excess of the principal amount of the liability component over its carrying amount, or the debt discount, is amortized to interest expense over the term of the Notes. The $58,500 difference between the gross proceeds received from issuance of the Notes of $240,000 and the estimated fair value of the liability component represented the equity component of the Notes and was recorded in additional paid-in capital. The equity component is not remeasured as long as it continues to meet the conditions for equity classification.

In accounting for the transaction costs related to the issuance of the Notes, the Company allocated the total amount incurred to the liability and equity components in proportion to the allocation of proceeds. Transaction costs attributable to the liability component, totaling $4,808, are being amortized to expense over the term of the Notes, and transaction costs attributable to the equity component, totaling $1,550, are included with the equity component in stockholders’ deficit.

The Notes consist of the following:

	As of
	June 30, 2021			December 31, 2020
Liability component:
Principal	$	221,250		$	221,250
Less: Debt discount, net of amortization		(31,161	)		(36,942	)
Net carrying amount	$	190,089		$	184,308
Equity component (a)		56,539			56,539

(a)

Recorded in the consolidated balance sheet within additional paid-in capital, net of $1,550 transaction costs in equity.

The following table sets forth total interest expense recognized related to the Notes:

	Three Months Ended June 30,				Six Months Ended June 30,
Interest expense	2021		2020		2021		2020
1.25% coupon	$	692	$	750	$	1,383	$	1,500
Amortization of debt discount and transaction costs		2,912		2,970		5,780		5,894
Total	$	3,604	$	3,720	$	7,163	$	7,394

As of June 30, 2021, the fair value of the Notes, which was determined based on inputs that are observable in the market or that could be derived from, or corroborated with, observable market data, quoted price of the Notes in an over-the-counter market (Level 2), and carrying value of debt instruments (carrying value excludes the equity component of the Company’s Notes classified in equity) were as follows:

	June 30, 2021				December 31, 2020
	Fair Value		Carrying Value		Fair Value		Carrying Value
Convertible senior notes	$	209,583	$	190,089	$	192,587	$	184,308

In connection with the issuance of the Notes, the Company entered into capped call transactions with certain counterparties affiliated with the initial purchasers and others. The capped call transactions are expected to reduce potential dilution of earnings per share upon conversion of the Notes. Under the capped call transactions, the Company purchased capped call options that in the aggregate relate to the total number of shares of the Company’s common stock underlying the Notes, with an initial strike price of approximately $53.17 per share, which corresponds to the initial conversion price of the Notes and is subject to anti-dilution adjustments substantially similar to those applicable to the conversion rate of the Notes, and have a cap price of approximately $89.98. The cost of the purchased capped calls of $33,024 was recorded to stockholders’ deficit and will not be re-measured provided it continues to meet the conditions for equity classification.

In connection with the purchase of the Notes described above, the Company terminated a portion of the capped call transactions which resulted in an immaterial amount of payments to the Company in cash and common stock and was recorded in addition paid-in capital.

Based on the closing price of our common stock of $14.10 on June 30, 2021, the last trading day of the quarter, the if-converted value of the Notes was less than the principal amount.

Revolving Line of Credit

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Revolving Line of Credit

8. Revolving Line of Credit

The Company entered into a credit facility with Silicon Valley Bank providing for a revolving line of credit agreement on March 3, 2020. This agreement replaced the Company’s previous agreement with Silicon Valley Bank, which expired on February 20, 2020. The three-year agreement has a borrowing limit of $50,000, with the ability for the Company to increase it to up to $100,000. Interest is payable monthly. Advances under the agreement bear interest at (a) the higher of (i) the prime rate as published in the Wall Street Journal or (ii) the federal funds effective rate plus 0.50%, plus (b) an applicable margin ranging from (0.50%) to 0.50% based on the Company’s Average Daily Usage (“ADU”) of the credit facility in the preceding month. The Company also is charged for amounts unused under this arrangement at a rate ranging from 0.00% to 0.40% based on the Company’s ADU in the preceding month. Any outstanding principal is due at the end of the term.

The obligations of the Company under the credit facility are secured by a first priority lien (subject to certain permitted liens) in substantially all of the personal property assets of the Company and its subsidiaries pursuant to the terms of a Guarantee and Collateral Agreement, dated March 3, 2020 and the other security documents.

The credit facility requires the Company to maintain a Consolidated Adjusted Quick Ratio (“AQR”) of (i) Consolidated Quick Assets to (ii) Consolidated Current Liabilities minus the current portion of Deferred Revenue of at least 1.25 to 1.00 as of the last day of any fiscal quarter, and, if the AQR is less than 2.00 to 1.00, a Minimum Consolidated EBITDA of at least $1.00 for any such fiscal quarter calculated on a trailing 12 month basis. The Company has also agreed to fiscal year dollar limits on its capital expenditures. If an event of default occurs, the lender would be entitled to take various actions, including the acceleration of amounts due under the credit facility and all actions permitted to be taken by a secured creditor.

There were no amounts outstanding under the Company’s revolving line of credit as of June 30, 2021 and December 31, 2020. The amount available to borrow was $50,000 and the interest rate was 2.75% as of June 30, 2021. No amounts were borrowed or repaid under the credit facility during the six months ended June 30, 2021. The Company borrowed and repaid $10,000 under the credit facility during the six months ended June 30, 2020.

Commitments

6 Months Ended

Jun. 30, 2021

Commitments And Contingencies Disclosure [Abstract]

Commitments

9. Commitments

Supplemental cash flow information related to the Company’s operating and finance leases was as follows:

Cash Paid for Amounts Included in the Measurement of Lease Liabilities	Six Months Ended June 30, 2021
Financing cash flows from finance leases	$	2,558
Operating cash flows from finance leases	$	721
Operating cash flows from operating leases	$	240
ROU Assets Obtained in Exchange for New Lease Obligations
Finance lease liabilities	$	15
Operating lease liabilities	$	-

As of June 30, 2021, the Company had no additional significant operating or finance leases that had not yet commenced.

In April 2021, the Company entered into a non-cancellable sublease agreement for part of one building on its headquarters campus. The sublease term expires May 31, 2028 and may be renewed at the option of the sublessee through November 30, 2031. Because market conditions and value have declined since the Company entered into its lease, in part due to the COVID-19 pandemic, payments to the Company under the sublease are less than its current obligation for the asset. Accordingly, the Company recorded an impairment loss of the financing lease ROU asset of $4,003 based on the excess of the carrying amount over the calculated fair value of the sublease. This impairment expense was included in operating expenses in the Company’s consolidated statements of operations and comprehensive loss for the period ended June 30, 2021.

Redeemable Preferred Stock

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Redeemable Preferred Stock

10. Redeemable Preferred Stock

On June 4, 2020, the Company issued and sold 1,777,778 shares of its newly created series of preferred stock, par value of $0.001 per share, designated as “Series A Convertible Preferred Stock” (the “Preferred Stock”) to BuildGroup LLC (the “Buyer”) at a purchase price of $45 per share, resulting in total gross proceeds for the Company of approximately $80,000. A member of the Company’s Board of Directors is the Chief Executive Officer of the Buyer. The Buyer also has a second representative on the Board.

The Preferred Stock ranks senior to the Company’s common stock with respect to dividends and distributions on liquidation, winding-up and dissolution. Each share of the Preferred Stock has an initial stated value of $45 per share. Holders of shares of the Preferred Stock are entitled to a dividend equal to 8.00% per annum (the “Regular Dividends”), payable quarterly, beginning on June 30, 2020. The Regular Dividends are payable in cash or in kind, at the Company’s option. In the event a Regular Dividend is paid in kind, the stated value of each share of the Preferred Stock will be increased by an amount equal to the accrued Regular Dividend not paid in cash. As of June 30, 2021, the Company had paid all dividends on the Preferred Stock in cash. Holders of the Preferred Stock are also entitled to participate in and receive any dividends declared or paid on the common stock on an as-converted basis, and no dividends may be paid to holders of the common stock unless full participating dividends are concurrently paid to the holders of the Preferred Stock.

Each holder of the Preferred Stock has the right, at its option, to convert its shares of the Preferred Stock, in whole or in part, into fully paid and non-assessable shares of the common stock, at any time and from time to time. The number of shares of the common stock into which a share of the Preferred Stock will convert at any time is equal to the quotient obtained by dividing its stated value then in effect plus any accumulated and unpaid Regular Dividends by its conversion price of $15.00. The conversion price is subject to customary anti-dilution adjustments, including in the event of any stock split, stock dividend, recapitalization or similar events. At closing, before payment of any dividends in kind, the 1,777,778 shares of the Preferred Stock were convertible into 5,333,334 shares of common stock.

The Company may, at its option, redeem the outstanding shares of the Preferred Stock following the fourth anniversary of its issuance. Redemption by the Company is subject to certain liquidity conditions as well conditions connected with the trading price of its common stock. Upon redemption by the Company, the Company will pay the holder of the Preferred Stock 105% of the initial stated value of such share plus any increase in the stated value from the initial stated value plus accumulated and unpaid Regular Dividends. If the Company undergoes a change of control as defined in the purchase agreement, the Company must redeem all of the then-outstanding shares of the Preferred Stock for cash consideration equal to the greater of the amount due for redemption as described above and the amount such holder of shares of the Preferred Stock would have received in respect of the number of shares of the Common Stock that would be issuable upon conversion of such share of the Preferred Stock.

Unless and until approval of the Company’s stockholders is obtained as contemplated by the NASDAQ listing rules, no holder of the Preferred Stock may convert shares of the Preferred Stock into shares of common stock if and to the extent that such conversion would result in the holder beneficially owning in excess of 19.9% of the then-outstanding shares of the common stock.

As long as not less than 60% of the shares of the Preferred Stock originally issued remain outstanding, the holders of a majority of the then-outstanding shares of the Preferred Stock, voting together as a single class, have the right at any election of directors to elect two directors if the Board consists of nine or fewer directors or three directors if the Board consists of 10 directors. At any time, such elected director(s) may be removed with or without cause only by the affirmative vote or written consent of a majority of the holders of the Preferred Stock entitled to elect such director.

Holders of the Preferred Stock generally are entitled to vote with the holders of the shares of the common stock on all matters submitted for a vote of holders of shares of the common stock (voting together with the holders of shares of the common stock as one class) on an as-converted basis, subject to a limitation of ownership of 19.9% of common stock. Additionally, certain matters require the approval of the holders of a majority of the outstanding shares of the Preferred Stock, voting as a separate class.

The Buyer is subject to limitations while it holds at least 10% of the Preferred Stock originally purchased. Furthermore, until the earliest of May 30, 2024 and receipt of a notice of redemption, the Buyer cannot sell, transfer or otherwise dispose of the shares of the Preferred Stock or the underlying shares of the common stock, subject to limited exceptions that include exceptions in the case of transfers to certain permitted transferees.

For so long as the Buyer and its affiliates collectively hold at least 60% of the shares of the Preferred Stock originally purchased by it or the common stock issuable upon conversion thereof, the Company will pay the Buyer a fee of $400 for the first year following closing and $200 per year thereafter. These management and oversight fees are expensed over the period incurred.

In the period of issuance, the Company incurred $807 in issuance costs related to the sale of the Preferred Stock, including $150 of reimbursement to the Buyer for reasonable fees and out-of-pocket expenses incurred by the Buyer in connection with the transaction. The issuance costs were netted against the proceeds from this transaction.

Stock-based Compensation

6 Months Ended

Jun. 30, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-based Compensation

11. Stock-based Compensation

Restricted Stock Units

During the six months ended June 30, 2021, the Company granted 1,406,984 restricted stock units, or RSUs, to employees and officers with an aggregate grant date fair value of $19,583. These RSUs generally vest in equal annual installments over various periods ranging from three to four years from the grant date, subject to continued service to the Company. The Company amortizes the grant date fair value of the stock subject to the RSUs on a straight-line basis over the period of vesting. The weighted-average vesting period for these RSUs is approximately 3.98 years from the date of grant.

The Company granted 699,504 performance RSUs with an aggregate grant date fair value of $9,693 during the six months ended June 30, 2021. The aggregate grant date fair value of the performance RSUs assuming target achievement was $7,349. The number of performance RSUs that will vest will be determined upon the achievement of certain financial targets for 2021, and vesting will then occur in equal annual installments over various periods ranging from less than one year to up to four years from the grant date. The actual number of shares issued upon vesting could range between 0% and 100% of the number of awards granted. The grant date fair value of the stock subject to the performance RSUs is amortized to expense on an accelerated basis over the period of vesting. The weighted-average vesting period for these performance RSUs is approximately 3.15 years from the date of grant.

In May 2021, the Company granted 106,640 performance RSUs with an aggregate derived fair value of $1,069. The performance RSUs vest in a single installment if the Company’s closing stock price is at least $23.00 for a period of 20 consecutive trading days occurring after the second anniversary of the grant and prior to the fifth anniversary of the grant. If this price-based requirement is met before the third anniversary of the grant date, then the performance RSUs will vest on the third anniversary of the grant date subject to continued service to the Company. If this price-based requirement is met after the third anniversary but prior to the fifth anniversary of the grant date, then the performance RSUs will vest on the date the price requirement is met subject to continued service to the Company. The Company will amortize the aggregate derived fair value of the stock subject to the performance RSUs on a straight-line basis over the derived service period of 2.30 years from the date of grant.

Stockholders' Deficit

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Stockholders' Deficit

12. Stockholders’ Deficit

Common Stock

The holders of common stock are entitled to one vote for each share. The voting, dividend and liquidation rights of the holders of common stock are subject to and qualified by the rights, powers and preferences of the holders of preferred stock.

At June 30, 2021, the Company had reserved a total of 11,111,633 of its authorized 95,000,000 shares of common stock for future issuance as follows:

Outstanding stock options			97,553
Restricted stock units			3,351,575
Available for future issuance under stock award plans			2,235,423
Available for future issuance under ESPP			93,748
Issuable upon conversion of Series A Preferred Stock			5,333,334
Total common shares reserved for future issuance			11,111,633

At the Company’s annual meeting of stockholders held in June 2021, the stockholders approved an amendment to the Company’s Restated Certificate of Incorporation, as amended to increase the total number of authorized shares of common stock reserved for issuance thereunder from 50,000,000 to 95,000,000 shares.

Revenue

6 Months Ended

Jun. 30, 2021

Revenue From Contract With Customer [Abstract]

Revenue

13. Revenue

Disaggregation of Revenue

The following tables provide information about disaggregation of revenue by service line:

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Service line:
Subscription	$	44,347	$	43,780	$	89,926	$	89,770
Platform		5,875		6,128		13,644		12,133
Total software services	$	50,222	$	49,908	$	103,570	$	101,903
Professional services		10,682		12,266		22,397		26,425
Total	$	60,904	$	62,174	$	125,967	$	128,328

Contract Balances

The following table provides information about contract assets and contract liabilities from contracts with customers:

	Balance at Beginning of Period		Balance at End of Period
Six Months Ended June 30, 2021
Contract assets	$	15,105	$	9,722
Contract liabilities:
Deferred revenue	$	32,204	$	31,589

Six Months Ended June 30, 2020
Contract assets	$	16,685	$	9,704
Contract liabilities:
Deferred revenue	$	38,508	$	35,658

The Company recognizes payments from customers based on contractual billing schedules. Accounts receivable are recorded when the right to consideration becomes unconditional. Contract assets include amounts related to the Company’s contractual right to consideration for completed performance objectives not yet invoiced. Contract liabilities include payments received in advance of performance under the contract and are recognized as revenue when earned under the contract. The Company had no asset impairment charges related to contract assets during the six months ended June 30, 2021 and 2020.

During the three and six months ended June 30, 2021, there were no significant changes in the contract assets outside of standard revenue and billing activity.

Revenue recognized during the three and six months ended June 30, 2021 that was included in the deferred revenue balance at the beginning of the period was $13,168 and $20,608, respectively.

The Company recorded favorable adjustments to revenue arising from performance obligations satisfied or partially satisfied in previous periods of $576 and $2,104 during the three and six months ended June 30, 2021, respectively.

Performance Obligations

As of June 30, 2021, the aggregate amount of the Company’s performance obligations that are unsatisfied or partially unsatisfied were approximately $210,000, of which a majority are expected to be satisfied within the next three years. The Company excludes from its population of performance obligations contracts with original durations of one year or less, contract renewal periods that renew automatically, and amounts of variable consideration that are allocated to wholly unsatisfied distinct service that forms part of a single performance obligation and meets certain variable allocation criteria.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Topic 606
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (e)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Subparagraph (a)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Income Taxes

6 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Income Taxes

14. Income Taxes

The Company’s effective tax rate for the six months ended June 30, 2021 was less than one percent, primarily as a result of estimated tax losses for the fiscal year-to-date offset by the increase in the valuation allowance in the net operating loss carryforwards. Current tax expense relates to estimated state income taxes and indefinite life intangibles. The limitation on the utilization of net operating losses in the indefinite life period is limited to 80% of taxable income because of provisions in the Tax Cuts and Jobs Act.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Segments and Geographic Information

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Segments and Geographic Information

15. Segments and Geographic Information

The Company views its operations and manages its business as one operating segment. Segment information matches the consolidated financial information for the current period and prior periods reported.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Related Parties

6 Months Ended

Jun. 30, 2021

Related Parties

16. Related Parties

Series A Preferred Stock

As described in Note 10, the Company sold 1,777,778 shares of Preferred Stock to an entity whose Chief Executive Officer is a member of the Company’s Board of Directors. The Company paid dividends of $1,600 and $462 to the buyer for the three months ended June 30, 2021 and 2020, respectively and $3,200 and $462 for the six months ended June 30, 2021 and 2020, respectively. Additionally, the Company paid management oversight fees of $86 and $186 to the Buyer for the three and six months ended June 30, 2021, respectively. There were no management oversight fees paid in the three and six months ended June 30, 2020. In connection with this transaction, the Company reimbursed the Buyer $150 for fees incurred in closing the sale of the Preferred Stock in June 2020. The significant terms of the Preferred Stock are described in Note 10.

Leasing Arrangements

The Company leases its office space at its Charleston, South Carolina headquarters campus under the terms of three non-cancellable leases from entities affiliated with a former executive who was also a Company director and significant stockholder. The Company’s headquarter campus building leases are accounted for as financing lease ROU assets and lease liabilities on the Consolidated Balance Sheet as of June 30, 2021. The lease agreements have 15-year terms ending on December 31, 2031, with Company options to renew for five additional years. The arrangements provide for 3.0% fixed annual rent increases. Payments under these agreements were $574 and $2,573 for the three months ended June 30, 2021 and 2020, respectively and $1,241 and $9,931 for the six months ended June 30, 2021 and 2020, respectively. In the six months ended June 30, 2020, the Company prepaid rent in the amount of $3,993 for periods during the first half of 2021, representing an approximately 17% discount on the amounts due. Other amounts due to these related parties were $334 and $667 as of June 30, 2021 and December 31, 2020, respectively, and were recorded in “Accrued expenses”.

Other Related Party Expenses

The Company utilizes the services of various companies that are owned and controlled by a former executive who was also a Company director and significant stockholder. The companies provide construction project management services, private air transportation and other services. Expenses related to these companies were $18 and $7 for the three months ended June 30, 2021 and 2020, respectively and $37 and $127 for the six months ended June 30, 2021 and 2020, respectively. Amounts due to these companies were de minimus as of June 30, 2021 and December 31, 2020.

The Company purchased software and services from a company affiliated with a Company director. Payments related to this agreement were $27 and $25 for the three months ended June 30, 2021 and 2020, respectively and $53 and $51 for the six months ended June 30, 2021 and 2020, respectively. Amounts due to this company were $28 and de minimus as of June 30, 2021 and December 31, 2020, respectively.

Subsequent Events

6 Months Ended

Jun. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

17. Subsequent Events

Restricted Stock Units

During July 2021, the Company granted approximately 126,417 RSUs with an aggregate grant date fair value of approximately $1,791. These RSUs generally vest in equal annual installments over various periods ranging from one to four years from the grant date.

Common Stock

During July and August 2021, RSUs vested resulting in the issuance of approximately 111,502 shares of the Company’s common stock.

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Principles of Consolidation

Interim Unaudited Consolidated Financial Information

Use of Estimates

Restructuring Cost

Restructuring Costs

Revenue and Deferred Revenue

The Company determines revenue recognition through the following steps:

•

Identification of each contract with a customer;

•

Identification of the performance obligations in the contract;

•

Determination of the transaction price;

•

Allocation of the transaction price to the performance obligations in the contract; and

•

Recognition of revenue when, or as, performance obligations are satisfied.

Software Services Revenue

Software services revenue consists of subscription revenue and platform revenue.

Subscription Revenue

Subscription revenue also includes fees paid for other services, such as event sponsorships and certain data services.

Platform Revenue

Professional Services Revenue

Revenue from implementation services with employer customers is generally recognized as those services are performed.

Revenue from support and training fees is recognized over the service period.

Contracts with Multiple Performance Obligations

Contract Costs

The following tables present information about deferred contract costs:

Balance of deferred contract costs

As of

June 30,

2021

As of

December 31,

2020

Costs to obtain contracts

4,775

5,624

Costs to fulfill contracts

3,268

3,639

	Three Months Ended June 30,				Six Months Ended June 30,
Amortization of deferred contract costs	2021		2020		2021		2020
Costs to obtain contracts included in sales and marketing expense	$	778	$	831	$	1,523	$	1,712
Costs to fulfill contracts included in cost of revenue	$	339	$	307	$	690	$	682

Marketable Securities

Concentrations of Credit Risk

Allowance for Doubtful Accounts

The Company uses a current expected credit loss model. Accounts receivable and allowance for doubtful accounts are discussed in Note 6.

Capitalized Software Development Costs

The following tables present information about capitalized software development costs:

	Three Months Ended June 30,				Six Months Ended June 30,
Capitalized software development costs	2021		2020		2021		2020
Capitalized	$	1,991	$	3,100	$	3,739	$	6,572
Amortized	$	2,159	$	1,727	$	4,321	$	3,246

Capitalized software development costs

As of

June 30,

2021

As of

December 31,

2020

Net book value

17,360

17,942

Leases

Comprehensive Loss

The Company’s net losses equal comprehensive losses for all periods presented. Presentation of the prior year comprehensive losses has been updated to reflect the exclusion of preferred dividends.

Recently Adopted Accounting Standards

Accounting Standards Not Yet Adopted

Summary Of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Schedule of Deferred Contract Costs

The following tables present information about deferred contract costs:

Balance of deferred contract costs

As of

June 30,

2021

As of

December 31,

2020

Costs to obtain contracts

4,775

5,624

Costs to fulfill contracts

3,268

3,639

	Three Months Ended June 30,				Six Months Ended June 30,
Amortization of deferred contract costs	2021		2020		2021		2020
Costs to obtain contracts included in sales and marketing expense	$	778	$	831	$	1,523	$	1,712
Costs to fulfill contracts included in cost of revenue	$	339	$	307	$	690	$	682

Schedule of Capitalized Software Development Costs

The following tables present information about capitalized software development costs:

	Three Months Ended June 30,				Six Months Ended June 30,
Capitalized software development costs	2021		2020		2021		2020
Capitalized	$	1,991	$	3,100	$	3,739	$	6,572
Amortized	$	2,159	$	1,727	$	4,321	$	3,246

Capitalized software development costs

As of

June 30,

2021

As of

December 31,

2020

Net book value

17,360

17,942

Net Loss Per Common Share (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Common Share Equivalent Securities Excluded from Calculation of Weighted-Average Common Shares Outstanding

The following common share equivalent securities have been excluded from the calculation of weighted average common shares outstanding because the effect is anti-dilutive for the periods presented:

	Three Months Ended June 30,				Six Months Ended June 30,
Anti-Dilutive Common Share Equivalents	2021		2020		2021		2020
Restricted stock units		3,351,575		2,930,636		3,351,575		2,930,636
Stock options		97,553		151,178		97,553		151,178
Convertible senior notes		4,161,182		4,513,824		4,161,182		4,513,824
Conversion of preferred stock		5,333,334		5,333,334		5,333,334		5,333,334
Total anti-dilutive common share equivalents		12,943,644		12,928,972		12,943,644		12,928,972

Basic and Diluted Net Loss per Common Share

Basic and diluted net loss per common share is calculated as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
Numerator:
Net loss	$	(15,020	)	$	(11,862	)	$	(17,117	)	$	(22,998	)
Preferred dividends		(1,600	)		(462	)		(3,200	)		(462	)
Net loss attributable to common stockholders	$	(16,620	)	$	(12,324	)	$	(20,317	)	$	(23,460	)
Denominator:
Weighted-average common shares outstanding, basic and diluted		33,080,257			32,058,387			32,787,162			32,348,673
Net loss per common share, basic and diluted	$	(0.50	)	$	(0.38	)	$	(0.62	)	$	(0.73	)

Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis using the above categories, as of the periods presented.

	June 30, 2021
Description	Level 1		Level 2		Level 3		Total
Cash Equivalents:
Money market mutual funds⁽¹⁾	$	92,451	$	—	$	—	$	92,451
Total assets	$	92,451	$	—	$	—	$	92,451

	December 31, 2020
Description	Level 1		Level 2		Level 3		Total
Cash Equivalents:
Money market mutual funds⁽¹⁾	$	87,224	$	—	$	—	$	87,224
Total assets	$	87,224	$	—	$	—	$	87,224

________________

(1)

Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2021

Marketable Securities [Abstract]

Schedule of Marketable Securities

	As of June 30, 2021
Sector	Amortized cost		Allowance for credit losses		Net carrying amount		Gross unrealized gains		Gross unrealized losses		Fair value
Industrial	$	4,538	$	-	$	4,538	$	-	$	-	$	4,538
Financial		60,487		-		60,487		2		-		60,489
Government		30,082		-		30,082		2		-		30,084
Total	$	95,107	$	-	$	95,107	$	4	$	-	$	95,111

	As of December 31, 2020
Sector	Amortized cost		Allowance for credit losses		Net carrying amount		Gross unrealized gains		Gross unrealized losses			Fair value
Industrial	$	8,993	$	-	$	8,993	$	-	$	-		$	8,993
Financial		55,943		-		55,943		-		(5	)		55,938
Government		30,149		-		30,149		6		-			30,155
Total	$	95,085	$	-	$	95,085	$	6	$	(5	)	$	95,086

Accounts receivable, Net (Tables)

6 Months Ended

Jun. 30, 2021

Accounts Receivable Net [Abstract]

Summary of Account Receivable, Net

Accounts receivable, net include:

	As of June 30, 2021			As of December 31, 2020
Accounts receivable	$	24,125		$	26,791
Less: Allowance for doubtful accounts		(218	)		(200	)
Less: Allowance for returns		(3,021	)		(4,351	)
Total accounts receivable, net	$	20,886		$	22,240

Schedule of Allowance for Doubtful Accounts

	Six Months Ended June 30,
Allowance for doubtful accounts	2021			2020
Beginning of period	$	200		$	155
Provision for credit losses		44			187
Write-offs and recoveries		(26	)		(44	)
End of period	$	218		$	298

Convertible Senior Notes (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Schedule of Convertible Notes

The Notes consist of the following:

	As of
	June 30, 2021			December 31, 2020
Liability component:
Principal	$	221,250		$	221,250
Less: Debt discount, net of amortization		(31,161	)		(36,942	)
Net carrying amount	$	190,089		$	184,308
Equity component (a)		56,539			56,539

(a)

Recorded in the consolidated balance sheet within additional paid-in capital, net of $1,550 transaction costs in equity.

Summary of Recognized Interest Expense

The following table sets forth total interest expense recognized related to the Notes:

	Three Months Ended June 30,				Six Months Ended June 30,
Interest expense	2021		2020		2021		2020
1.25% coupon	$	692	$	750	$	1,383	$	1,500
Amortization of debt discount and transaction costs		2,912		2,970		5,780		5,894
Total	$	3,604	$	3,720	$	7,163	$	7,394

Schedule of Fair Value and Carrying Value of Convertible Senior Notes

	June 30, 2021				December 31, 2020
	Fair Value		Carrying Value		Fair Value		Carrying Value
Convertible senior notes	$	209,583	$	190,089	$	192,587	$	184,308

Commitments (Tables)

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Schedule of Supplemental Cash Flow Information Related to Operating and Finance Leases

Supplemental cash flow information related to the Company’s operating and finance leases was as follows:

Cash Paid for Amounts Included in the Measurement of Lease Liabilities	Six Months Ended June 30, 2021
Financing cash flows from finance leases	$	2,558
Operating cash flows from finance leases	$	721
Operating cash flows from operating leases	$	240
ROU Assets Obtained in Exchange for New Lease Obligations
Finance lease liabilities	$	15
Operating lease liabilities	$	-

Stockholders' Deficit (Tables)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Shares of Common Stock Reserved for Future Issuance

At June 30, 2021, the Company had reserved a total of 11,111,633 of its authorized 95,000,000 shares of common stock for future issuance as follows:

Outstanding stock options			97,553
Restricted stock units			3,351,575
Available for future issuance under stock award plans			2,235,423
Available for future issuance under ESPP			93,748
Issuable upon conversion of Series A Preferred Stock			5,333,334
Total common shares reserved for future issuance			11,111,633

Revenue (Tables)

6 Months Ended

Jun. 30, 2021

Revenue From Contract With Customer [Abstract]

Summary of Disaggregation of Revenue by Service Line with Reportable Segments

The following tables provide information about disaggregation of revenue by service line:

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Service line:
Subscription	$	44,347	$	43,780	$	89,926	$	89,770
Platform		5,875		6,128		13,644		12,133
Total software services	$	50,222	$	49,908	$	103,570	$	101,903
Professional services		10,682		12,266		22,397		26,425
Total	$	60,904	$	62,174	$	125,967	$	128,328

Summary of Contract Assets and Contract Liabilities

The following table provides information about contract assets and contract liabilities from contracts with customers:

	Balance at Beginning of Period		Balance at End of Period
Six Months Ended June 30, 2021
Contract assets	$	15,105	$	9,722
Contract liabilities:
Deferred revenue	$	32,204	$	31,589

Six Months Ended June 30, 2020
Contract assets	$	16,685	$	9,704
Contract liabilities:
Deferred revenue	$	38,508	$	35,658

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021 USD ($) Customer	Jan. 31, 2021 USD ($)	Jun. 30, 2021 USD ($) Customer	Jun. 30, 2020 USD ($) Customer	Jun. 30, 2021 USD ($) Customer	Jun. 30, 2020 USD ($) Customer	Dec. 31, 2020 Customer
Summary Of Significant Accounting Policies [Line Items]
Restructuring costs \| $	$ 2,727		$ 2,727	$ 5,616	$ 4,127	$ 5,616
Contract cost payments, description					The Company capitalizes costs to obtain contracts that are considered incremental and recoverable, such as sales commissions. Payments of sales commissions generally include multiple payments. The Company capitalizes only those payments made within an insignificant time from the contract inception, typically three months or less. Subsequent payments are expensed as incurred. The capitalized costs are amortized to sales and marketing expense over the estimated period of benefit of the asset, which is generally four to five years. The Company expenses the costs to obtain a contract when the amortization period is less than one year.
Capitalized Software Development Costs
Summary Of Significant Accounting Policies [Line Items]
Useful lives for property and equipment					3 years
Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
No of Customer \| Customer	0		0		0		0
Total Revenue
Summary Of Significant Accounting Policies [Line Items]
No of Customer \| Customer	0		0	0	0	0
Customer Concentration Risk \| Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
Concentration Risk, Percentage					10.00%		10.00%
Customer Concentration Risk \| Total Revenue
Summary Of Significant Accounting Policies [Line Items]
Concentration Risk, Percentage			10.00%	10.00%	10.00%	10.00%
Cost of Revenue
Summary Of Significant Accounting Policies [Line Items]
Estimated amortization period of contract costs					5 years
Minimum \| Sales and Marketing Expense
Summary Of Significant Accounting Policies [Line Items]
Estimated amortization period of contract costs					4 years
Maximum \| Sales and Marketing Expense
Summary Of Significant Accounting Policies [Line Items]
Estimated amortization period of contract costs					5 years
UNITED STATES
Summary Of Significant Accounting Policies [Line Items]
Restructuring costs \| $		$ 1,400

Schedule of Deferred Contract Costs (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Condensed Income Statements Captions [Line Items]
Deferred contract costs and other non-current assets	$ 9,011		$ 9,011		$ 10,259
Sales and Marketing Expense
Condensed Income Statements Captions [Line Items]
Deferred contract costs and other non-current assets	4,775		4,775		5,624
Costs to obtain contracts included in sales and marketing expense	778	$ 831	1,523	$ 1,712
Cost of Revenue
Condensed Income Statements Captions [Line Items]
Deferred contract costs and other non-current assets	3,268		3,268		$ 3,639
Costs to obtain contracts included in sales and marketing expense	$ 339	$ 307	$ 690	$ 682

Schedule of Capitalized Software Development Costs (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Accounting Policies [Abstract]
Capitalized	$ 1,991	$ 3,100	$ 3,739	$ 6,572
Amortized	2,159	$ 1,727	4,321	$ 3,246
Net book value	$ 17,360		$ 17,360		$ 17,942

Common Share Equivalents Securities Excluded from Calculation of Weighted Average Common Share Outstanding (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common share equivalents	12,943,644	12,928,972	12,943,644	12,928,972
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common share equivalents	3,351,575	2,930,636	3,351,575	2,930,636
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common share equivalents	97,553	151,178	97,553	151,178
Convertible Senior Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common share equivalents	4,161,182	4,513,824	4,161,182	4,513,824
Conversion of Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common share equivalents	5,333,334	5,333,334	5,333,334	5,333,334

Basic and Diluted Net Loss per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended		9 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2020
Numerator:
Net loss	$ (15,020)	$ (2,097)	$ (11,862)	$ (11,136)	$ (17,117)	$ (22,998)	$ (22,998)
Preferred dividends	(1,600)		(462)		(3,200)	(462)	(462)
Net loss available to common stockholders	$ (16,620)		$ (12,324)		$ (20,317)	$ (23,460)	$ (23,460)
Denominator:
Basic and diluted	33,080,257		32,058,387		32,787,162	32,348,673	32,348,673
Basic and diluted	$ (0.50)		$ (0.38)		$ (0.62)	$ (0.73)	$ (0.73)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($)
$ in Thousands

Jun. 30, 2021

Dec. 31, 2020

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Total assets

$ 92,451

$ 87,224

Money market mutual funds

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Cash Equivalents

^[1]

92,451

87,224

Level 1

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Total assets

92,451

87,224

Level 1 | Money market mutual funds

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Cash Equivalents

^[1]

92,451

87,224

Level 2

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Total assets

Level 2 | Money market mutual funds

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Cash Equivalents

^[1]

Level 3

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Total assets

Level 3 | Money market mutual funds

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Cash Equivalents

^[1]

$ 0

[1]

Schedule of Marketable Securities (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Marketable Securities [Line Items]
Amortized cost	$ 95,107	$ 95,085
Allowance for credit losses	0	0
Net carrying amount	95,107	95,085
Gross unrealized gains	4	6
Gross unrealized losses	0	(5)
Fair value	95,111	95,086
Industrial
Marketable Securities [Line Items]
Amortized cost	4,538	8,993
Allowance for credit losses	0	0
Net carrying amount	4,538	8,993
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Fair value	4,538	8,993
Financial
Marketable Securities [Line Items]
Amortized cost	60,487	55,943
Allowance for credit losses	0	0
Net carrying amount	60,487	55,943
Gross unrealized gains	2	0
Gross unrealized losses	0	(5)
Fair value	60,489	55,938
Government
Marketable Securities [Line Items]
Amortized cost	30,082	30,149
Allowance for credit losses	0	0
Net carrying amount	30,082	30,149
Gross unrealized gains	2	6
Gross unrealized losses	0	0
Fair value	$ 30,084	$ 30,155

Summary of Account Receivable, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Accounts Receivable Net [Abstract]
Accounts receivable	$ 24,125	$ 26,791
Less: Allowance for doubtful accounts	(218)	(200)	$ (298)	$ (155)
Less: Allowance for returns	(3,021)	(4,351)
Total accounts receivable, net	$ 20,886	$ 22,240

Schedule of Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Accounts Receivable Net [Abstract]
Beginning of period	$ 200	$ 155
Provision for credit losses	44	187
Write-offs and recoveries	(26)	(44)
End of period	$ 218	$ 298

Convertible Senior Notes - Additional Information (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2021 USD ($) shares Day $ / shares	Dec. 31, 2018 USD ($)
Common Stock
Debt Instrument [Line Items]
Closing price of our common stock \| $ / shares	$ 14.10
1.25% Convertible Senior Notes
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount	$ 240,000	$ 240,000
Debt instrument, interest rate		1.25%
Debt instrument, maturity date		Dec. 15, 2023
Initial effective conversion price of debt instrument \| $ / shares	$ 1
Consecutive trading period \| Day	5
Interest rate conversion notes	7.30%
Fair value of the liability conversion notes	$ 181,500
Gross proceeds received from issuance of the notes	240,000
Difference between gross proceeds received from issuance of the notes and estimated fair value of notes	58,500
Transaction costs attributable to the liability component	4,808
Transaction costs attributable to the equity component	$ 1,550
1.25% Convertible Senior Notes \| Call Option
Debt Instrument [Line Items]
Initial strike price \| $ / shares	53.17
Cap price \| $ / shares	89.98
Purchase of convertible note capped call hedge	$ 33,024
1.25% Convertible Senior Notes \| Maximum
Debt Instrument [Line Items]
Conversion price percentage	1.30
Percent of Senior notes Principal amount to trigger Conversion as product of stock price and conversion rate	98.00%
1.25% Convertible Senior Notes \| Common Stock
Debt Instrument [Line Items]
Debt instrument, conversion ratio	18.8076
Initial effective conversion price of debt instrument \| $ / shares	$ 53.17
Number shares issuable upon conversion \| shares	4,513,824

Schedule of Convertible Notes (Detail) - 1.25% Convertible Senior Notes - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Principal	$ 221,250	$ 221,250
Less: Debt discount, net of amortization	(31,161)	(36,942)
Net carrying amount	190,089	184,308
Equity component (a)	$ 56,539	$ 56,539

Schedule of Convertible Notes (Parenthetical) (Detail) - 1.25% Convertible Senior Notes	Jun. 30, 2021 USD ($)
Debt Instrument [Line Items]
Transaction costs attributable to the equity component	$ 1,550
Additional Paid-in Capital
Debt Instrument [Line Items]
Transaction costs attributable to the equity component	$ 1,550,000

Summary of Recognized Interest Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Total	$ 5,646	$ 5,862	$ 11,201	$ 11,753
1.25% Convertible Senior Notes
Debt Instrument [Line Items]
1.25% coupon	692	750	1,383	1,500
Amortization of debt discount and transaction costs	2,912	2,970	5,780	5,894
Total	$ 3,604	$ 3,720	$ 7,163	$ 7,394

Schedule of Fair Value and Carrying Value of Convertible Senior Notes (Detail) - 1.25% Convertible Senior Notes - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Fair Value	$ 209,583	$ 192,587
Carrying Value	$ 190,089	$ 184,308

Revolving Line of Credit - Additional Information (Detail) - USD ($) $ in Thousands		6 Months Ended
	Mar. 03, 2020	Jun. 30, 2021	Jun. 30, 2020
Line Of Credit Facility [Line Items]
Payments on revolving line of credit		$ 0	$ 10,000
Revolving Line of Credit Agreement
Line Of Credit Facility [Line Items]
Amount outstanding under credit facility		0
Line of credit facility current borrowing capacity available		$ 50,000
Interest rate		2.75%
Payments on revolving line of credit		$ 0	$ 10,000
Revolving Line of Credit Agreement \| Silicon Valley Bank
Line Of Credit Facility [Line Items]
Line of credit facility expiration date	Feb. 20, 2020
Line of credit facility, expiration period	3 years
Line of credit facility current maximum borrowing capacity	$ 50,000
Line of credit facility expanded maximum borrowing capacity	$ 100,000
Description of customary representations and warranties and restrictive covenants	Company to maintain a Consolidated Adjusted Quick Ratio (“AQR”) of (i) Consolidated Quick Assets to (ii) Consolidated Current Liabilities minus the current portion of Deferred Revenue of at least 1.25 to 1.00 as of the last day of any fiscal quarter, and, if the AQR is less than 2.00 to 1.00, a Minimum Consolidated EBITDA of at least $1.00 for any such fiscal quarter calculated on a trailing 12 month basis. The Company has also agreed to fiscal year dollar limits on its capital expenditures.
Federal funds effective rate plus	0.50%
Revolving Line of Credit Agreement \| Silicon Valley Bank \| Minimum
Line Of Credit Facility [Line Items]
Interest rate margin to be added on prime rate	(0.50%)
Line of credit facility, unused capacity, commitment fee percentage	0.00%
Adjusted Quick Ratio	1.25
EBITDA	1.00
Revolving Line of Credit Agreement \| Silicon Valley Bank \| Maximum
Line Of Credit Facility [Line Items]
Interest rate margin to be added on prime rate	0.50%
Line of credit facility, unused capacity, commitment fee percentage	0.40%
Adjusted Quick Ratio	2.00

Schedule of Supplemental Cash Flow Information Related to Operating and Finance Leases (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Financing cash flows from finance leases	$ 2,558	$ 3,993
Operating cash flows from finance leases	721
Operating cash flows from operating leases	240
ROU Assets Obtained in Exchange for New Lease Obligations
Finance lease liabilities	15
Operating lease liabilities	$ 0

Commitments - Additional Information (Details) $ in Thousands	1 Months Ended
	Apr. 30, 2021 USD ($) Building
Commitments And Contingencies Disclosure [Abstract]
Extended leases, expiration date	May 31, 2028
Number of buildings leased \| Building	1
Finance lease, impairment loss \| $	$ 4,003

Redeemable Preferred Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	6 Months Ended
	Jun. 04, 2020	Jun. 30, 2020	Jun. 30, 2021	Dec. 31, 2020
Schedule Of Stockholders Equity [Line Items]
Preferred stock, shares issued			1,777,778	1,777,778
Preferred stock, par value	$ 45
Preferred stock,dividend rate		8.00%
Preferred stock,intial stated value	105.00%
Shares will beneficially own in excess of shares of Common Stock outstanding.	19.90%
Common stock shares ownership	19.90%
Percentage of hold shares of preferred stock originally purchased.	10.00%
Preferred Stock
Schedule Of Stockholders Equity [Line Items]
Buyer and its affiliates descriptions	For so long as the Buyer and its affiliates collectively hold at least 60% of the shares of the Preferred Stock originally purchased by it or the common stock issuable upon conversion thereof, the Company will pay the Buyer a fee of $400 for the first year following closing and $200 per year thereafter. These management and oversight fees are expensed over the period incurred.
Minimum holding percentage of preferred stock			60.00%
Conversion of stock, amount fee			$ 400
Conversion of stock amount, thereafter			200
Issuance costs related to sale of stock			807
Additional reimbursed reasonable fees			$ 150
Maximum
Schedule Of Stockholders Equity [Line Items]
Preferred stock,originally issued remain outstanding	60.00%
Series A Preferred Stock
Schedule Of Stockholders Equity [Line Items]
Preferred stock, shares issued	1,777,778
Preferred stock, par value	$ 0.001
Preferred stock,purchase price per share	$ 45
Total gross proceeds	$ 80,000
Preferred stock shares converted into common stock shares			5,333,334
Conversion of Preferred Stock
Schedule Of Stockholders Equity [Line Items]
Initial effective conversion price of debt instrument	$ 15.00
Preferred stock shares converted into common stock shares	5,333,334

Stock-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Thousands	1 Months Ended	6 Months Ended
	May 31, 2021 USD ($) shares	Jun. 30, 2021 USD ($) Day $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Debt instrument consecutive trading days \| Day		20
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of restricted stock units, granted \| shares		1,406,984
Restricted stock units, aggregate grant date fair value		$ 19,583
Stock plan vesting period		3 years 11 months 23 days
Restricted Stock Units (RSUs) \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock plan vesting period		3 years
Restricted Stock Units (RSUs) \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock plan vesting period		4 years
Performance Based Restricted Stock Units R S Us
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of restricted stock units, granted \| shares	106,640	699,504
Restricted stock units, aggregate grant date fair value	$ 1,069	$ 9,693
Restricted stock units, aggregate grant date fair value assuming target achievement		$ 7,349
Weighted average vesting period		3 years 1 month 24 days
Stock plan, expense amortizing period	2 years 3 months 18 days
Performance Based Restricted Stock Units R S Us \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock plan vesting period		1 year
Shares issued vesting percentage		0.00%
Closing price of our common stock \| $ / shares		$ 23.00
Performance Based Restricted Stock Units R S Us \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock plan vesting period		4 years
Shares issued vesting percentage		100.00%

Stockholders' Deficit - Additional Information (Detail) - shares	Jun. 30, 2021	Dec. 31, 2020
Stockholders Equity Note [Abstract]
Common stock, authorized shares reserved for future issuance	11,111,633
Common stock, shares authorized	95,000,000	50,000,000

Common Stock for Future Issuance (Detail)	Jun. 30, 2021 shares
Class Of Stock [Line Items]
Outstanding stock options	97,553
Restricted stock units	3,351,575
Total common shares reserved for future issuance	11,111,633
Series A Preferred Stock
Class Of Stock [Line Items]
Preferred stock shares converted into common stock shares	5,333,334
Stock Award Plans
Class Of Stock [Line Items]
Common stock available for future issuance	2,235,423
ESPP
Class Of Stock [Line Items]
Common stock available for future issuance	93,748

Summary of Disaggregation of Revenue by Service Line with Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation Of Revenue [Line Items]
Revenue	$ 60,904	$ 62,174	$ 125,967	$ 128,328
Subscription
Disaggregation Of Revenue [Line Items]
Revenue	44,347	43,780	89,926	89,770
Platform
Disaggregation Of Revenue [Line Items]
Revenue	5,875	6,128	13,644	12,133
Total Software Services
Disaggregation Of Revenue [Line Items]
Revenue	50,222	49,908	103,570	101,903
Professional Services
Disaggregation Of Revenue [Line Items]
Revenue	$ 10,682	$ 12,266	$ 22,397	$ 26,425

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Summary of Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Contract assets	$ 9,722	$ 15,105	$ 9,704	$ 16,685
Contract liabilities:
Deferred revenue	$ 31,589	$ 32,204	$ 35,658	$ 38,508

Revenue - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
Revenue - Additional Information (Detail) - USD ($)	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Revenue From Contract With Customer [Abstract]
Asset impairment charges related to contract assets		$ 0	$ 0
Changes in the contract assets outside of standard revenue and billing activity	$ 0	0
Revenue recognized included in deferred revenue beginning balance	13,168,000	20,608,000
Favorable adjustments to revenue arising from performance obligations satisfied or partially satisfied in previous periods	576,000	2,104,000
Aggregate amount of unsatisfied or partially unsatisfied performance obligations	$ 210,000,000	$ 210,000,000

Revenue - Additional Information (Detail1)	Jun. 30, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Disaggregation Of Revenue [Line Items]
Performance obligations expected satisfaction period	3 years

Income Taxes - Additional Information (Detail)	6 Months Ended
Income Taxes - Additional Information (Detail)	Jun. 30, 2021
Income Taxes [Line Items]
Percentage of taxable income on utilization of net operating loss in indefinite life period	80.00%
Maximum
Income Taxes [Line Items]
Effective tax rate	1.00%

Segments and Geographic Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2021 Segment
Segment Reporting [Abstract]
Number of Operating Segments	1

Related Parties - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended			6 Months Ended
	Jun. 30, 2021	Apr. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Dividends on preferred stock			$ 1,600	$ 1,600	$ 462
Extended leases, expiration date		May 31, 2028
Lease operating expenses			574		2,573	$ 1,241	$ 9,931
Payment for future rent due in the first half of 2021						2,558	$ 3,993
Due to related party, current	$ 334		334			334		$ 667
Prepaid rent discount rate							17.00%
Stockholders and Executives
Related Party Transaction [Line Items]
Service from related party			18		7	37	$ 127
Company Director
Related Party Transaction [Line Items]
Due to related party, current	$ 28		28			28
Service from related party			$ 27		25	$ 53	51
Related Party Leasing Arrangements \| Non-Cancellable Leases
Related Party Transaction [Line Items]
Lease renewal option term	5 years		5 years			5 years
Lessee operating lease term of contract	15 years		15 years			15 years
Extended leases, expiration date						Dec. 31, 2031
Percentage of fixed annual rent increases						3.00%
Series A Preferred Stock
Related Party Transaction [Line Items]
Issuance of series A preferred stock for cash, net of issuance costs (in shares)						1,777,778
Dividends on preferred stock			$ 1,600		462	$ 3,200	462
Management and oversight fees			$ 86		$ 0	$ 186	$ 0
Temporary equity stock issuance fees	$ 150

Subsequent Events - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended				6 Months Ended
	Aug. 31, 2021	Jul. 31, 2021	May 31, 2021	Apr. 30, 2021	Jun. 30, 2021
Subsequent Event [Line Items]
Lease expiration date				May 31, 2028
Subsequent Event
Subsequent Event [Line Items]
Issuance of common stock upon exercises of stock option and vesting of restricted stock units	111,502	111,502
Performance Based Restricted Stock Units R S Us
Subsequent Event [Line Items]
Number of restricted stock units, granted			106,640		699,504
Restricted stock units, aggregate grant date fair value			$ 1,069		$ 9,693
Restricted stock units, aggregate grant date fair value assuming target achievement					$ 7,349
Weighted average vesting period					3 years 1 month 24 days
Performance Based Restricted Stock Units R S Us \| Minimum
Subsequent Event [Line Items]
Shares issued vesting percentage					0.00%
Stock plan vesting period					1 year
Performance Based Restricted Stock Units R S Us \| Maximum
Subsequent Event [Line Items]
Shares issued vesting percentage					100.00%
Stock plan vesting period					4 years
Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Number of restricted stock units, granted					1,406,984
Restricted stock units, aggregate grant date fair value					$ 19,583
Stock plan vesting period					3 years 11 months 23 days
Restricted Stock Units (RSUs) \| Subsequent Event
Subsequent Event [Line Items]
Number of restricted stock units, granted		126,417
Restricted stock units, aggregate grant date fair value		$ 1,791
Restricted Stock Units (RSUs) \| Minimum
Subsequent Event [Line Items]
Stock plan vesting period					3 years
Restricted Stock Units (RSUs) \| Minimum \| Subsequent Event
Subsequent Event [Line Items]
Stock plan vesting period		1 year
Restricted Stock Units (RSUs) \| Maximum
Subsequent Event [Line Items]
Stock plan vesting period					4 years
Restricted Stock Units (RSUs) \| Maximum \| Subsequent Event
Subsequent Event [Line Items]
Stock plan vesting period		4 years