| Schedule of Revenue Disaggregated by Revenue Stream |
The following table shows our revenue disaggregated by revenue stream for the three and six months ended July 31, 2018 (amounts in thousands):
|
|
|
For the Three Months
|
|
For the Six Months
|
|
|
|
Ended July 31, 2018
|
|
Ended July 31, 2018
|
|
Revenue by revenue stream:
|
|
|
|
|
|
Product
|
|
$1,462
|
|
$4,553
|
|
Professional services
|
|
3,426
|
|
8,063
|
|
Maintenance - first year
|
|
460
|
|
1,118
|
|
Maintenance - renewal
|
|
6,553
|
|
13,102
|
|
Total revenues
|
|
$11,901
|
|
$26,836
|
|
| Schedule of Cumulative Effect of Changes on Consolidated Balance Sheet of Adoption of New Guidance under Modified Retrospective Method |
The cumulative effect of the changes made to our consolidated balance sheet as of February 1, 2018 for the adoption of the new guidance under the modified retrospective method is as follows (amounts in thousands):
|
|
|
As of
|
|
|
|
|
January 31, 2018
|
|
|
|
|
|
|
February 1, 2018
|
|
|
|
|
Under ASC 605
|
|
|
Adjustment
|
|
|
Under ASC 606
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unbilled receivables
|
|
$
|
3,101
|
|
|
$
|
137
|
|
|
$
|
3,238
|
|
|
Prepaid expenses and other current assets (1)
|
|
$
|
3,557
|
|
|
$
|
824
|
|
|
$
|
4,381
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred revenues
|
|
$
|
14,433
|
|
|
$
|
(1,358
|
)
|
|
$
|
13,075
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated loss
|
|
$
|
(148,620
|
)
|
|
$
|
2,319
|
|
|
$
|
(146,301
|
)
|
|
|
(1)
|
Contract assets, short-term are included in prepaid expenses and other current assets in our consolidated balance sheet.
|
|
| Schedule of Impact of Topic 606 Adoption on Consolidated Financial Statements |
The following tables set forth the amount by which each financial statement line item is affected in the current reporting period by the application of ASC 606, as compared to the guidance that was in effect before its adoption. The impact of adoption on the consolidated financial statements as of and for the three and six months ended July 31, 2018 is as follows (amounts in thousands):
Consolidated Balance Sheets:
|
|
|
As of
|
|
|
|
|
July 31, 2018
|
|
|
|
|
|
|
July 31, 2018
|
|
|
|
|
Under ASC 605
|
|
|
Adjustment
|
|
|
Under ASC 606
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unbilled receivables
|
|
$
|
5,114
|
|
|
$
|
216
|
|
|
$
|
5,330
|
|
|
Prepaid expenses and other current assets (1)
|
|
$
|
4,361
|
|
|
$
|
635
|
|
|
$
|
4,996
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred revenues
|
|
$
|
13,755
|
|
|
$
|
(5,251
|
)
|
|
$
|
8,504
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated loss
|
|
$
|
(166,954
|
)
|
|
$
|
6,102
|
|
|
$
|
(160,852
|
)
|
|
|
(1)
|
Contract assets, short-term, are included in prepaid expenses and other current assets in our consolidated balance sheet.
|
Consolidated Statements of Operations and Comprehensive Loss:
|
|
|
For the Three Months Ended July 31, 2018
|
|
|
|
|
Under ASC 605
|
|
|
Adjustment
|
|
|
Under ASC 606
|
|
|
Revenues
|
|
$
|
10,780
|
|
|
$
|
1,121
|
|
|
$
|
11,901
|
|
|
Cost of revenues
|
|
|
5,775
|
|
|
|
(160
|
)
|
|
|
5,615
|
|
|
Operating expenses
|
|
|
14,665
|
|
|
|
(109
|
)
|
|
|
14,556
|
|
|
Loss from operations
|
|
|
(9,660
|
)
|
|
|
1,390
|
|
|
|
(8,270
|
)
|
|
Loss before income taxes
|
|
|
(11,622
|
)
|
|
|
1,390
|
|
|
|
(10,232
|
)
|
|
Income tax (benefit) provision
|
|
|
(1,152
|
)
|
|
|
—
|
|
|
|
(1,152
|
)
|
|
Net loss
|
|
|
(10,470
|
)
|
|
|
1,390
|
|
|
|
(9,080
|
)
|
|
Net loss per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
(0.30
|
)
|
|
$
|
0.04
|
|
|
$
|
(0.26
|
)
|
|
Diluted
|
|
$
|
(0.30
|
)
|
|
$
|
0.04
|
|
|
$
|
(0.26
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six Months Ended July 31, 2018
|
|
|
|
|
Under ASC 605
|
|
|
Adjustment
|
|
|
Under ASC 606
|
|
|
Revenues
|
|
$
|
22,864
|
|
|
$
|
3,972
|
|
|
$
|
26,836
|
|
|
Cost of revenues
|
|
|
11,346
|
|
|
|
298
|
|
|
|
11,644
|
|
|
Operating expenses
|
|
|
28,687
|
|
|
|
(109
|
)
|
|
|
28,578
|
|
|
Loss from operations
|
|
|
(17,169
|
)
|
|
|
3,783
|
|
|
|
(13,386
|
)
|
|
Loss before income taxes
|
|
|
(19,980
|
)
|
|
|
3,783
|
|
|
|
(16,197
|
)
|
|
Income tax (benefit) provision
|
|
|
(1,646
|
)
|
|
|
—
|
|
|
|
(1,646
|
)
|
|
Net loss
|
|
|
(18,334
|
)
|
|
|
3,783
|
|
|
|
(14,551
|
)
|
|
Net loss per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
(0.52
|
)
|
|
$
|
0.11
|
|
|
$
|
(0.41
|
)
|
|
Diluted
|
|
$
|
(0.52
|
)
|
|
$
|
0.11
|
|
|
$
|
(0.41
|
)
|
Consolidated Statement of Cash Flows:
|
|
|
For the Six Months Ended July 31, 2018
|
|
|
|
|
Under ASC 605
|
|
|
Adjustment
|
|
|
Under ASC 606
|
|
|
Cash used in operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$
|
(18,334
|
)
|
|
$
|
3,783
|
|
|
$
|
(14,551
|
)
|
|
Unbilled receivables
|
|
|
(2,119
|
)
|
|
|
(216
|
)
|
|
|
(2,335
|
)
|
|
Prepaid expenses and other current assets
|
|
|
(949
|
)
|
|
|
(635
|
)
|
|
|
(1,584
|
)
|
|
Deferred revenues
|
|
|
(478
|
)
|
|
|
(5,251
|
)
|
|
|
(5,729
|
)
|
|
Other operating activities
|
|
|
111
|
|
|
|
2,319
|
|
|
|
2,430
|
|
|
Total cash used in operating activities
|
|
$
|
(19,416
|
)
|
|
$
|
—
|
|
|
$
|
(19,416
|
)
|
|