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Share Name | Share Symbol | Market | Type |
---|---|---|---|
ForeScout Technologies Inc | NASDAQ:FSCT | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 28.99 | 28.99 | 29.00 | 0 | 01:00:00 |
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|
☒
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
|
☐
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
|
|
51-0406800
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification No.)
|
|
|
|
190 West Tasman Drive
|
||
San Jose
|
California
|
95134
|
(Address of principal executive offices, including zip code)
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common Stock, par value $0.001 per share
|
FSCT
|
The NASDAQ Global Market
|
Large accelerated filer
|
☒
|
Accelerated filer
|
☐
|
Non-accelerated filer
|
☐
|
Smaller reporting company
|
☐
|
|
|
Emerging growth company
|
☐
|
|
|
If an emerging growth company, indicate by checkmark if the registrant has not elected to use the extended transition period for complying with any new or revised financial accounting standards providing pursuant to Section 7(a)(2)(B) of the Securities Act
|
☐
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Page
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|
||
Item 1.
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||
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||
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|
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Item 2.
|
||
Item 3.
|
||
Item 4.
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||
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|
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Item 1.
|
||
Item 1A.
|
||
Item 6.
|
||
|
|
•
|
our proposed acquisition by entities affiliated with Advent International Corporation (“Advent”), including the proposed tender offer in connection therewith;
|
•
|
the effect of the COVID-19 pandemic and related actions by individuals, governments, and private industry on our business, markets, and the economy
|
•
|
the evolution of the cyberthreat landscape facing enterprises in the United States and other countries;
|
•
|
developments and trends in the domestic and international markets for network security products and related services;
|
•
|
our expectations regarding the size of our target market;
|
•
|
our ability to educate prospective end-customers about our technical capabilities and the use and benefits of our products, and to achieve increased market acceptance of our solution;
|
•
|
our beliefs and objectives regarding our prospects and our future results of operations and financial condition;
|
•
|
the effects of increased competition in our target markets and our ability to compete effectively;
|
•
|
our business plan and our ability to manage our growth effectively;
|
•
|
our investment in our sales force and our expectations concerning the productivity and efficiency of our expanding sales force as our sales representatives become more seasoned;
|
•
|
our growth strategy to maintain and extend our technology leadership, expand and diversify our end-customer base, deepen our existing end-customer relationships, and attract and retain highly skilled security professionals;
|
•
|
our ability to enhance our existing products and technologies and develop or acquire new products and technologies;
|
•
|
our plans to attract new end-customers, retain existing end-customers, and increase our annual revenue;
|
•
|
our expectations concerning renewal rates of Software Products subscription contracts and support and maintenance contracts (collectively known as “term contracts”) with end-customers;
|
•
|
our plans to expand our international operations;
|
•
|
our expectations regarding future acquisitions of, or investments in, complementary companies, services, or technologies;
|
•
|
our ability to continue to generate a significant portion of our revenue from public sector customers;
|
•
|
the effects on our business of evolving information security and data privacy laws and regulations, government export or import controls and any failure to comply with the U.S. Foreign Corrupt Practices Act and similar laws;
|
•
|
our ability to maintain, protect, and enhance our brand and intellectual property;
|
•
|
fluctuations in our quarterly results of operations and other operating measures (including developments and volatility arising from COVID-19 and customer uncertainty related to the acquisition);
|
•
|
our expectations regarding changes in our cost of revenue, gross margins, and operating costs and expenses;
|
•
|
our expectations regarding the portions of our revenue represented by license revenue, subscription revenue, and professional services revenue;
|
•
|
our expectations concerning the impact on our results of operations of development of our distribution programs and sales through our channel partners;
|
•
|
our expectations of material future costs related to restructuring plans;
|
•
|
the impact on our revenue, gross margin, and profitability of future investments in the enhancement of Forescout eyeSight, Forescout eyeControl, Forescout eyeExtend, SilentDefense, and SilentDefense Command Center, and expansion of our sales and marketing programs;
|
•
|
the impact of the Tax Cuts and Jobs Act on our business;
|
•
|
our ability to successfully acquire and integrate companies and assets;
|
•
|
sufficiency of our existing liquidity sources to meet our cash needs; and
|
•
|
our potential use of foreign exchange forward contracts to hedge our foreign currency risk and our general use of our foreign currency.
|
ITEM 1.
|
FINANCIAL STATEMENTS
|
|
June 30, 2020
|
|
December 31, 2019
|
||||
Assets
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
54,947
|
|
|
$
|
69,030
|
|
Marketable securities
|
2,021
|
|
|
29,181
|
|
||
Accounts receivable
|
63,924
|
|
|
84,168
|
|
||
Inventory
|
1,418
|
|
|
372
|
|
||
Deferred commissions - current
|
13,350
|
|
|
12,843
|
|
||
Prepaid expenses and other current assets
|
11,383
|
|
|
17,024
|
|
||
Total current assets
|
147,043
|
|
|
212,618
|
|
||
Deferred commissions - non-current
|
20,848
|
|
|
23,036
|
|
||
Property and equipment, net
|
20,718
|
|
|
23,835
|
|
||
Operating lease right-of-use assets
|
27,265
|
|
|
29,626
|
|
||
Restricted cash - non-current
|
1,554
|
|
|
1,555
|
|
||
Intangible assets, net
|
17,339
|
|
|
19,367
|
|
||
Goodwill
|
98,018
|
|
|
98,018
|
|
||
Other assets
|
6,946
|
|
|
8,172
|
|
||
Total assets
|
$
|
339,731
|
|
|
$
|
416,227
|
|
|
|
|
|
||||
Liabilities and stockholders' equity
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
11,899
|
|
|
$
|
10,692
|
|
Accrued compensation
|
29,770
|
|
|
34,007
|
|
||
Accrued expenses
|
16,381
|
|
|
16,279
|
|
||
Deferred revenue - current
|
104,191
|
|
|
112,232
|
|
||
Notes payable - current
|
4,550
|
|
|
8,248
|
|
||
Operating lease liabilities - current
|
5,812
|
|
|
5,840
|
|
||
Total current liabilities
|
172,603
|
|
|
187,298
|
|
||
Deferred revenue - non-current
|
67,274
|
|
|
75,366
|
|
||
Operating lease liabilities - non-current
|
29,211
|
|
|
32,125
|
|
||
Other liabilities
|
23,638
|
|
|
23,893
|
|
||
Total liabilities
|
292,726
|
|
|
318,682
|
|
||
|
|
|
|
||||
Stockholders' equity:
|
|
|
|
||||
Common stock, $0.001 par value; 1,000,000 shares authorized;
|
|
|
|
||||
49,550 and 48,064 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively
|
50
|
|
|
48
|
|
||
Additional paid-in capital
|
762,187
|
|
|
727,922
|
|
||
Accumulated other comprehensive loss
|
(678
|
)
|
|
(633
|
)
|
||
Accumulated deficit
|
(714,554
|
)
|
|
(629,792
|
)
|
||
Total stockholders’ equity
|
47,005
|
|
|
97,545
|
|
||
Total liabilities and stockholders' equity
|
$
|
339,731
|
|
|
$
|
416,227
|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
||||||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
||||||||
Revenue:
|
|
|
|
|
|
|
|
||||||||
License
|
$
|
37,577
|
|
|
$
|
38,831
|
|
|
$
|
52,376
|
|
|
$
|
76,511
|
|
Subscription
|
37,612
|
|
|
34,822
|
|
|
75,138
|
|
|
68,621
|
|
||||
Professional services
|
4,687
|
|
|
4,627
|
|
|
9,515
|
|
|
8,716
|
|
||||
Total revenue
|
79,876
|
|
|
78,280
|
|
|
137,029
|
|
|
153,848
|
|
||||
Cost of revenue:
|
|
|
|
|
|
|
|
||||||||
License
|
6,282
|
|
|
5,622
|
|
|
11,701
|
|
|
13,229
|
|
||||
Subscription
|
7,041
|
|
|
5,599
|
|
|
14,054
|
|
|
10,806
|
|
||||
Professional services
|
6,148
|
|
|
6,235
|
|
|
13,313
|
|
|
12,421
|
|
||||
Total cost of revenue
|
19,471
|
|
|
17,456
|
|
|
39,068
|
|
|
36,456
|
|
||||
Total gross profit
|
60,405
|
|
|
60,824
|
|
|
97,961
|
|
|
117,392
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Research and development
|
21,514
|
|
|
19,440
|
|
|
44,760
|
|
|
37,937
|
|
||||
Sales and marketing
|
38,988
|
|
|
56,173
|
|
|
86,276
|
|
|
112,096
|
|
||||
General and administrative
|
21,733
|
|
|
15,838
|
|
|
46,214
|
|
|
32,051
|
|
||||
Restructuring
|
859
|
|
|
—
|
|
|
3,371
|
|
|
—
|
|
||||
Total operating expenses
|
83,094
|
|
|
91,451
|
|
|
180,621
|
|
|
182,084
|
|
||||
Loss from operations
|
(22,689
|
)
|
|
(30,627
|
)
|
|
(82,660
|
)
|
|
(64,692
|
)
|
||||
Interest expense
|
(118
|
)
|
|
(142
|
)
|
|
(353
|
)
|
|
(235
|
)
|
||||
Other income (expense), net
|
572
|
|
|
505
|
|
|
(29
|
)
|
|
1,122
|
|
||||
Loss before income taxes
|
(22,235
|
)
|
|
(30,264
|
)
|
|
(83,042
|
)
|
|
(63,805
|
)
|
||||
Income tax provision
|
1,288
|
|
|
496
|
|
|
1,720
|
|
|
1,207
|
|
||||
Net loss
|
$
|
(23,523
|
)
|
|
$
|
(30,760
|
)
|
|
$
|
(84,762
|
)
|
|
$
|
(65,012
|
)
|
Net loss per share, basic and diluted
|
$
|
(0.48
|
)
|
|
$
|
(0.68
|
)
|
|
$
|
(1.73
|
)
|
|
$
|
(1.45
|
)
|
Weighted-average shares used to compute net loss per share, basic and diluted
|
49,371
|
|
|
45,494
|
|
|
48,982
|
|
|
44,848
|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
||||||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
||||||||
Net loss
|
$
|
(23,523
|
)
|
|
$
|
(30,760
|
)
|
|
$
|
(84,762
|
)
|
|
$
|
(65,012
|
)
|
Other comprehensive (loss) income, net of tax:
|
|
|
|
|
|
|
|
||||||||
Change in fair value adjustment on marketable securities
|
10
|
|
|
60
|
|
|
(45
|
)
|
|
135
|
|
||||
Foreign currency translation adjustments
|
—
|
|
|
1,602
|
|
|
—
|
|
|
(452
|
)
|
||||
Comprehensive loss
|
$
|
(23,513
|
)
|
|
$
|
(29,098
|
)
|
|
$
|
(84,807
|
)
|
|
$
|
(65,329
|
)
|
|
Six Months Ended June 30, 2020
|
|||||||||||||||||||||
|
Common Stock
|
|
Additional Paid-In Capital
|
|
Accumulated Other Comprehensive Loss
|
|
Accumulated Deficit
|
|
Total Stockholders' Equity
|
|||||||||||||
|
Shares
|
|
Amount
|
|
|
|||||||||||||||||
Balance as of December 31, 2019
|
48,064
|
|
|
$
|
48
|
|
|
$
|
727,922
|
|
|
$
|
(633
|
)
|
|
$
|
(629,792
|
)
|
|
$
|
97,545
|
|
Other comprehensive loss, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
(55
|
)
|
|
—
|
|
|
(55
|
)
|
|||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
13,478
|
|
|
—
|
|
|
—
|
|
|
13,478
|
|
|||||
Issuance of common stock in connection with employee equity incentive plans
|
976
|
|
|
1
|
|
|
2,899
|
|
|
—
|
|
|
—
|
|
|
2,900
|
|
|||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(61,239
|
)
|
|
(61,239
|
)
|
|||||
Balance as of March 31, 2020
|
49,040
|
|
|
$
|
49
|
|
|
$
|
744,299
|
|
|
$
|
(688
|
)
|
|
$
|
(691,031
|
)
|
|
$
|
52,629
|
|
Other comprehensive income, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
10
|
|
|
—
|
|
|
10
|
|
|||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
12,522
|
|
|
—
|
|
|
—
|
|
|
12,522
|
|
|||||
Issuance of common stock in connection with employee equity incentive plans
|
510
|
|
|
1
|
|
|
5,366
|
|
|
—
|
|
|
—
|
|
|
5,367
|
|
|||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(23,523
|
)
|
|
(23,523
|
)
|
|||||
Balance as of June 30, 2020
|
49,550
|
|
|
$
|
50
|
|
|
$
|
762,187
|
|
|
$
|
(678
|
)
|
|
$
|
(714,554
|
)
|
|
$
|
47,005
|
|
|
Six Months Ended June 30, 2019
|
|||||||||||||||||||||
|
Common Stock
|
|
Additional Paid-In Capital
|
|
Accumulated Other Comprehensive Loss
|
|
Accumulated Deficit
|
|
Total Stockholders' Equity
|
|||||||||||||
|
Shares
|
|
Amount
|
|
|
|||||||||||||||||
Balance as of December 31, 2018
|
43,403
|
|
|
$
|
43
|
|
|
$
|
639,237
|
|
|
$
|
(302
|
)
|
|
$
|
(511,257
|
)
|
|
$
|
127,721
|
|
Other comprehensive loss, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,979
|
)
|
|
—
|
|
|
(1,979
|
)
|
|||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
13,828
|
|
|
—
|
|
|
—
|
|
|
13,828
|
|
|||||
Issuance of common stock in connection with employee equity incentive plans
|
1,706
|
|
|
2
|
|
|
9,407
|
|
|
—
|
|
|
—
|
|
|
9,409
|
|
|||||
Vesting of early exercised stock options
|
24
|
|
|
—
|
|
|
202
|
|
|
—
|
|
|
—
|
|
|
202
|
|
|||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(34,252
|
)
|
|
(34,252
|
)
|
|||||
Balance as of March 31, 2019
|
45,133
|
|
|
$
|
45
|
|
|
$
|
662,674
|
|
|
$
|
(2,281
|
)
|
|
$
|
(545,509
|
)
|
|
$
|
114,929
|
|
Other comprehensive income, net of tax
|
—
|
|
|
—
|
|
|
—
|
|
|
1,662
|
|
|
—
|
|
|
1,662
|
|
|||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
14,065
|
|
|
—
|
|
|
—
|
|
|
14,065
|
|
|||||
Issuance of common stock in connection with employee equity incentive plans
|
746
|
|
|
1
|
|
|
7,014
|
|
|
—
|
|
|
—
|
|
|
7,015
|
|
|||||
Vesting of early exercised stock options
|
24
|
|
|
—
|
|
|
204
|
|
|
—
|
|
|
—
|
|
|
204
|
|
|||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(30,760
|
)
|
|
(30,760
|
)
|
|||||
Balance as of June 30, 2019
|
45,903
|
|
|
$
|
46
|
|
|
$
|
683,957
|
|
|
$
|
(619
|
)
|
|
$
|
(576,269
|
)
|
|
$
|
107,115
|
|
|
Six Months Ended
June 30, |
||||||
|
2020
|
|
2019
|
||||
Cash flows from operating activities:
|
|
|
|
||||
Net loss
|
$
|
(84,762
|
)
|
|
$
|
(65,012
|
)
|
Adjustments to reconcile net loss to net cash used in operating activities
|
|
|
|
|
|||
Stock-based compensation
|
25,625
|
|
|
27,893
|
|
||
Depreciation and amortization
|
6,465
|
|
|
5,790
|
|
||
Other
|
655
|
|
|
(8
|
)
|
||
Changes in operating assets and liabilities
|
|
|
|
|
|||
Accounts receivable
|
20,244
|
|
|
12,177
|
|
||
Inventory
|
(1,293
|
)
|
|
(593
|
)
|
||
Deferred commissions
|
1,681
|
|
|
1,809
|
|
||
Prepaid expenses and other current assets
|
5,142
|
|
|
318
|
|
||
Other assets
|
536
|
|
|
551
|
|
||
Accounts payable
|
1,297
|
|
|
(2,509
|
)
|
||
Accrued compensation
|
(4,237
|
)
|
|
(905
|
)
|
||
Accrued expenses
|
152
|
|
|
407
|
|
||
Deferred revenue
|
(16,133
|
)
|
|
1,495
|
|
||
Other liabilities
|
(143
|
)
|
|
(160
|
)
|
||
Net cash used in operating activities
|
(44,771
|
)
|
|
(18,747
|
)
|
||
Cash flows from investing activities:
|
|
|
|
||||
Purchases of property and equipment
|
(1,355
|
)
|
|
(3,402
|
)
|
||
Purchases of marketable securities
|
—
|
|
|
(63,569
|
)
|
||
Proceeds from maturities of marketable securities
|
27,000
|
|
|
53,354
|
|
||
Net cash provided by (used in) investing activities
|
25,645
|
|
|
(13,617
|
)
|
||
Cash flows from financing activities:
|
|
|
|
||||
Proceeds from revolving credit facility
|
16,000
|
|
|
—
|
|
||
Repayment of revolving credit facility
|
(16,000
|
)
|
|
—
|
|
||
Repayments of notes payable
|
(3,750
|
)
|
|
(3,749
|
)
|
||
Proceeds from sales of shares through employee equity incentive plans
|
11,583
|
|
|
20,726
|
|
||
Payment related to shares withheld for taxes on vesting of restricted stock units
|
(3,316
|
)
|
|
(4,302
|
)
|
||
Others
|
25
|
|
|
—
|
|
||
Net cash provided by financing activities
|
4,542
|
|
|
12,675
|
|
||
Effect of exchange rate changes on cash and cash equivalents
|
—
|
|
|
(4
|
)
|
||
Net change in cash, cash equivalents, and restricted cash for period
|
(14,584
|
)
|
|
(19,693
|
)
|
||
Cash, cash equivalents, and restricted cash at beginning of period
|
71,591
|
|
|
69,012
|
|
||
Cash, cash equivalents, and restricted cash at end of period
|
$
|
57,007
|
|
|
$
|
49,319
|
|
Reconciliation of cash, cash equivalents, and restricted cash within the condensed consolidated balance sheets to the amounts shown in the statements of cash flows above:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
54,947
|
|
|
$
|
46,872
|
|
Restricted cash included in prepaid expenses and other current assets
|
506
|
|
|
1,154
|
|
||
Restricted cash - non-current
|
1,554
|
|
|
1,293
|
|
||
Total cash, cash equivalents, and restricted cash
|
$
|
57,007
|
|
|
$
|
49,319
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
||||||||
Revenue:
|
|
|
|
|
|
|
|
||||||||
License
|
|
|
|
|
|
|
|
||||||||
Software Products
|
|
|
|
|
|
|
|
||||||||
Perpetual license
|
$
|
12,167
|
|
|
$
|
20,675
|
|
|
$
|
21,526
|
|
|
$
|
46,434
|
|
Term license
|
19,167
|
|
|
11,190
|
|
|
19,820
|
|
|
11,514
|
|
||||
Hardware Products
|
6,243
|
|
|
6,966
|
|
|
11,030
|
|
|
18,563
|
|
||||
Subscription
|
|
|
|
|
|
|
|
||||||||
Software as a service (“SaaS”)
|
167
|
|
|
—
|
|
|
293
|
|
|
—
|
|
||||
Support and maintenance
|
37,445
|
|
|
34,822
|
|
|
74,845
|
|
|
68,621
|
|
||||
Professional services
|
4,687
|
|
|
4,627
|
|
|
9,515
|
|
|
8,716
|
|
||||
Total revenue
|
$
|
79,876
|
|
|
$
|
78,280
|
|
|
$
|
137,029
|
|
|
$
|
153,848
|
|
|
Three Months Ended June 30, 2020
|
||
|
Contract Liabilities
|
||
|
Total
|
||
Balance as of March 31, 2020
|
$
|
180,674
|
|
Additions
|
71,019
|
|
|
License revenue recognized
|
(37,577
|
)
|
|
Subscription revenue recognized
|
(37,612
|
)
|
|
Professional services revenue recognized
|
(4,687
|
)
|
|
Balance as of June 30, 2020
|
$
|
171,817
|
|
|
Six Months Ended June 30, 2020
|
||
|
Contract Liabilities
|
||
|
Total
|
||
Balance as of December 31, 2019
|
$
|
188,907
|
|
Additions
|
119,939
|
|
|
License revenue recognized
|
(52,376
|
)
|
|
Subscription revenue recognized
|
(75,138
|
)
|
|
Professional services revenue recognized
|
(9,515
|
)
|
|
Balance as of June 30, 2020
|
$
|
171,817
|
|
|
June 30, 2020
|
|
December 31, 2019
|
||||||||||||||||||||
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||||||
Financial assets
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Cash and cash equivalents:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Cash
|
$
|
40,752
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
62,188
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Money market accounts
|
14,195
|
|
|
—
|
|
|
—
|
|
|
6,842
|
|
|
—
|
|
|
—
|
|
||||||
Total cash and cash equivalents
|
54,947
|
|
|
—
|
|
|
—
|
|
|
69,030
|
|
|
—
|
|
|
—
|
|
||||||
Marketable securities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Commercial paper
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,998
|
|
|
—
|
|
||||||
Corporate debt securities
|
—
|
|
|
2,021
|
|
|
—
|
|
|
—
|
|
|
24,168
|
|
|
—
|
|
||||||
U.S. government securities
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3,015
|
|
|
—
|
|
||||||
Total marketable securities
|
—
|
|
|
2,021
|
|
|
—
|
|
|
—
|
|
|
29,181
|
|
|
—
|
|
||||||
Restricted cash (current and non-current)
|
2,060
|
|
|
—
|
|
|
—
|
|
|
2,561
|
|
|
—
|
|
|
—
|
|
||||||
Total financial assets
|
$
|
57,007
|
|
|
$
|
2,021
|
|
|
$
|
—
|
|
|
$
|
71,591
|
|
|
$
|
29,181
|
|
|
$
|
—
|
|
|
June 30, 2020
|
|
December 31, 2019
|
||||||||||||||||||||
|
Amortized Cost
|
|
Unrealized Gains
|
|
Fair Value
|
|
Amortized Cost
|
|
Unrealized Gains
|
|
Fair Value
|
||||||||||||
Marketable securities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Available-for-sale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Commercial paper
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,998
|
|
|
$
|
—
|
|
|
$
|
1,998
|
|
Corporate debt securities
|
2,017
|
|
|
4
|
|
|
2,021
|
|
|
24,122
|
|
|
46
|
|
|
24,168
|
|
||||||
U.S. government securities
|
—
|
|
|
—
|
|
|
—
|
|
|
3,012
|
|
|
3
|
|
|
3,015
|
|
||||||
Total marketable securities
|
$
|
2,017
|
|
|
$
|
4
|
|
|
$
|
2,021
|
|
|
$
|
29,132
|
|
|
$
|
49
|
|
|
$
|
29,181
|
|
|
June 30, 2020
|
|
December 31, 2019
|
||||||||||||
|
Amortized Cost
|
|
Fair Value
|
|
Amortized Cost
|
|
Fair Value
|
||||||||
Due within one year
|
$
|
2,017
|
|
|
$
|
2,021
|
|
|
$
|
29,132
|
|
|
$
|
29,181
|
|
Total
|
$
|
2,017
|
|
|
$
|
2,021
|
|
|
$
|
29,132
|
|
|
$
|
29,181
|
|
|
|
Workforce Reduction Cost
|
||
Accrual balance as at December 31, 2019
|
|
$
|
—
|
|
Restructuring charges
|
|
3,371
|
|
|
Cash payments
|
|
(2,841
|
)
|
|
Accrual balance as at June 30, 2020
|
|
$
|
530
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
||||||||
Cost of revenue:
|
|
|
|
|
|
|
|
||||||||
License
|
$
|
114
|
|
|
$
|
89
|
|
|
$
|
236
|
|
|
$
|
172
|
|
Subscription
|
482
|
|
|
470
|
|
|
1,006
|
|
|
913
|
|
||||
Professional services
|
301
|
|
|
421
|
|
|
817
|
|
|
822
|
|
||||
Research and development
|
3,417
|
|
|
2,691
|
|
|
7,100
|
|
|
5,769
|
|
||||
Sales and marketing
|
4,795
|
|
|
7,198
|
|
|
10,599
|
|
|
13,684
|
|
||||
General and administrative
|
2,658
|
|
|
3,196
|
|
|
5,867
|
|
|
6,533
|
|
||||
Total
|
$
|
11,767
|
|
|
$
|
14,065
|
|
|
$
|
25,625
|
|
|
$
|
27,893
|
|
|
Options Outstanding
|
|||||||||||
|
Number
of Shares |
|
Weighted-
Average Exercise Price |
|
Weighted-
Average Remaining Contractual Life (Years) |
|
Aggregate
Intrinsic Value |
|||||
Balance—December 31, 2019
|
3,066
|
|
|
$
|
12.33
|
|
|
5.6
|
|
$
|
62,759
|
|
Options exercised
|
(636
|
)
|
|
$
|
12.31
|
|
|
|
|
|
||
Options forfeited
|
(32
|
)
|
|
$
|
21.46
|
|
|
|
|
|
||
Balance—June 30, 2020
|
2,398
|
|
|
$
|
12.22
|
|
|
5.2
|
|
$
|
22,035
|
|
Options vested and exercisable—June 30, 2020
|
2,287
|
|
|
$
|
11.77
|
|
|
5.1
|
|
$
|
21,874
|
|
|
RSUs and PSUs Outstanding
|
|||||||||||
|
Number
of Shares |
|
Weighted-
Average Grant Date Fair Value Per Share |
|
Weighted-
Average Remaining Contractual Life (Years) |
|
Aggregate
Intrinsic Value |
|||||
Balance—December 31, 2019
|
6,391
|
|
|
$
|
31.37
|
|
|
1.7
|
|
$
|
209,621
|
|
Granted
|
253
|
|
|
$
|
29.80
|
|
|
|
|
|
||
Vested
|
(816
|
)
|
|
$
|
29.41
|
|
|
|
|
|
|
|
Forfeited
|
(668
|
)
|
|
$
|
32.02
|
|
|
|
|
|
||
Balance—June 30, 2020
|
5,160
|
|
|
$
|
31.53
|
|
|
1.5
|
|
$
|
109,383
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
||||||||
Net loss
|
$
|
(23,523
|
)
|
|
$
|
(30,760
|
)
|
|
$
|
(84,762
|
)
|
|
$
|
(65,012
|
)
|
Weighted-average shares used to compute net loss per share, basic and diluted
|
49,371
|
|
|
45,494
|
|
|
48,982
|
|
|
44,848
|
|
||||
Net loss per share, basic and diluted
|
$
|
(0.48
|
)
|
|
$
|
(0.68
|
)
|
|
$
|
(1.73
|
)
|
|
$
|
(1.45
|
)
|
|
As of June 30,
|
||||
|
2020
|
|
2019
|
||
Options to purchase common stock
|
2,398
|
|
|
4,282
|
|
Unvested early exercised common shares
|
—
|
|
|
—
|
|
Unvested restricted stock units
|
5,160
|
|
|
5,719
|
|
Employee Stock Purchase Plan
|
—
|
|
|
172
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
||||||||
|
|
|
|
|
|
|
|
||||||||
|
(Dollars in thousands)
|
||||||||||||||
Total revenue
|
$
|
79,876
|
|
|
$
|
78,280
|
|
|
$
|
137,029
|
|
|
$
|
153,848
|
|
Total revenue year-over-year percentage growth
|
2
|
%
|
|
16
|
%
|
|
(11
|
)%
|
|
21
|
%
|
||||
Gross margin
|
76
|
%
|
|
78
|
%
|
|
71
|
%
|
|
76
|
%
|
||||
Loss from operations
|
$
|
(22,689
|
)
|
|
$
|
(30,627
|
)
|
|
$
|
(82,660
|
)
|
|
$
|
(64,692
|
)
|
Loss from operations as a percentage of total revenue
|
(28
|
)%
|
|
(39
|
)%
|
|
(60
|
)%
|
|
(42
|
)%
|
||||
Net loss
|
$
|
(23,523
|
)
|
|
$
|
(30,760
|
)
|
|
$
|
(84,762
|
)
|
|
$
|
(65,012
|
)
|
Net cash used in operating activities
|
|
|
|
|
$
|
(44,771
|
)
|
|
$
|
(18,747
|
)
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
||||||||
|
|
|
|
|
|
|
|
||||||||
|
(In thousands)
|
||||||||||||||
Condensed Consolidated Statements of Operations Data:
|
|
|
|
|
|
|
|
||||||||
Revenue:
|
|
|
|
|
|
|
|
||||||||
License
|
$
|
37,577
|
|
|
$
|
38,831
|
|
|
$
|
52,376
|
|
|
$
|
76,511
|
|
Subscription
|
37,612
|
|
|
34,822
|
|
|
75,138
|
|
|
68,621
|
|
||||
Professional services
|
4,687
|
|
|
4,627
|
|
|
9,515
|
|
|
8,716
|
|
||||
Total revenue
|
79,876
|
|
|
78,280
|
|
|
137,029
|
|
|
153,848
|
|
||||
Cost of revenue:
|
|
|
|
|
|
|
|
||||||||
License (1)
|
6,282
|
|
|
5,622
|
|
|
11,701
|
|
|
13,229
|
|
||||
Subscription (1)
|
7,041
|
|
|
5,599
|
|
|
14,054
|
|
|
10,806
|
|
||||
Professional services (1)
|
6,148
|
|
|
6,235
|
|
|
13,313
|
|
|
12,421
|
|
||||
Total cost of revenue
|
19,471
|
|
|
17,456
|
|
|
39,068
|
|
|
36,456
|
|
||||
Total gross profit
|
60,405
|
|
|
60,824
|
|
|
97,961
|
|
|
117,392
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Research and development (1)
|
21,514
|
|
|
19,440
|
|
|
44,760
|
|
|
37,937
|
|
||||
Sales and marketing (1)
|
38,988
|
|
|
56,173
|
|
|
86,276
|
|
|
112,096
|
|
||||
General and administrative (1)
|
21,733
|
|
|
15,838
|
|
|
46,214
|
|
|
32,051
|
|
||||
Restructuring
|
859
|
|
|
—
|
|
|
3,371
|
|
|
—
|
|
||||
Total operating expenses
|
83,094
|
|
|
91,451
|
|
|
180,621
|
|
|
182,084
|
|
||||
Loss from operations
|
(22,689
|
)
|
|
(30,627
|
)
|
|
(82,660
|
)
|
|
(64,692
|
)
|
||||
Interest expense
|
(118
|
)
|
|
(142
|
)
|
|
(353
|
)
|
|
(235
|
)
|
||||
Other income (expense), net
|
572
|
|
|
505
|
|
|
(29
|
)
|
|
1,122
|
|
||||
Loss before income taxes
|
(22,235
|
)
|
|
(30,264
|
)
|
|
(83,042
|
)
|
|
(63,805
|
)
|
||||
Income tax provision
|
1,288
|
|
|
496
|
|
|
1,720
|
|
|
1,207
|
|
||||
Net loss
|
$
|
(23,523
|
)
|
|
$
|
(30,760
|
)
|
|
$
|
(84,762
|
)
|
|
$
|
(65,012
|
)
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
||||||||
|
|
|
|
|
|
|
|
||||||||
|
(In thousands)
|
||||||||||||||
Cost of revenue:
|
|
|
|
|
|
|
|
||||||||
License
|
$
|
114
|
|
|
$
|
89
|
|
|
$
|
236
|
|
|
$
|
172
|
|
Subscription
|
482
|
|
|
470
|
|
|
1,006
|
|
|
913
|
|
||||
Professional services
|
301
|
|
|
421
|
|
|
817
|
|
|
822
|
|
||||
Research and development
|
3,417
|
|
|
2,691
|
|
|
7,100
|
|
|
5,769
|
|
||||
Sales and marketing
|
4,795
|
|
|
7,198
|
|
|
10,599
|
|
|
13,684
|
|
||||
General and administrative
|
2,658
|
|
|
3,196
|
|
|
5,867
|
|
|
6,533
|
|
||||
Total
|
$
|
11,767
|
|
|
$
|
14,065
|
|
|
$
|
25,625
|
|
|
$
|
27,893
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
||||
|
|
|
|
|
|
|
|
||||
|
(As a percentage of total revenue)
|
||||||||||
Condensed Consolidated Statements of Operations Data:
|
|
|
|
|
|
|
|
||||
Revenue:
|
|
|
|
|
|
|
|
||||
License
|
47
|
%
|
|
50
|
%
|
|
38
|
%
|
|
50
|
%
|
Subscription
|
47
|
|
|
44
|
|
|
55
|
|
|
44
|
|
Professional services
|
6
|
|
|
6
|
|
|
7
|
|
|
6
|
|
Total revenue
|
100
|
|
|
100
|
|
|
100
|
|
|
100
|
|
Cost of revenue:
|
|
|
|
|
|
|
|
||||
License
|
8
|
|
|
7
|
|
|
9
|
|
|
9
|
|
Subscription
|
9
|
|
|
7
|
|
|
10
|
|
|
7
|
|
Professional services
|
7
|
|
|
8
|
|
|
10
|
|
|
8
|
|
Total cost of revenue
|
24
|
|
|
22
|
|
|
29
|
|
|
24
|
|
Total gross profit
|
76
|
|
|
78
|
|
|
71
|
|
|
76
|
|
Operating expenses:
|
|
|
|
|
|
|
|
||||
Research and development
|
27
|
|
|
25
|
|
|
33
|
|
|
24
|
|
Sales and marketing
|
49
|
|
|
72
|
|
|
63
|
|
|
73
|
|
General and administrative
|
27
|
|
|
20
|
|
|
34
|
|
|
21
|
|
Restructuring
|
1
|
|
|
—
|
|
|
2
|
|
|
—
|
|
Total operating expenses
|
104
|
|
|
117
|
|
|
132
|
|
|
118
|
|
Loss from operations
|
(28
|
)
|
|
(39
|
)
|
|
(61
|
)
|
|
(42
|
)
|
Interest expense
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
Other income (expense), net
|
1
|
|
|
—
|
|
|
—
|
|
|
1
|
|
Loss before income taxes
|
(27
|
)
|
|
(39
|
)
|
|
(61
|
)
|
|
(41
|
)
|
Income tax provision
|
2
|
|
|
—
|
|
|
1
|
|
|
1
|
|
Net loss
|
(29
|
)%
|
|
(39
|
)%
|
|
(62
|
)%
|
|
(42
|
)%
|
|
Three Months Ended June 30,
|
|
|
|
|
|
Six Months Ended
June 30,
|
|
|
|
|
||||||||||||||||||
|
2020
|
|
2019
|
|
Change
|
|
2020
|
|
2019
|
|
Change
|
||||||||||||||||||
|
Amount
|
|
Amount
|
|
Amount
|
|
%
|
|
Amount
|
|
Amount
|
|
Amount
|
|
%
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
(Dollars in thousands)
|
||||||||||||||||||||||||||||
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
License
|
$
|
37,577
|
|
|
$
|
38,831
|
|
|
$
|
(1,254
|
)
|
|
(3
|
)%
|
|
$
|
52,376
|
|
|
$
|
76,511
|
|
|
$
|
(24,135
|
)
|
|
(32
|
)%
|
Subscription
|
37,612
|
|
|
34,822
|
|
|
2,790
|
|
|
8
|
%
|
|
75,138
|
|
|
68,621
|
|
|
6,517
|
|
|
9
|
%
|
||||||
Professional services
|
4,687
|
|
|
4,627
|
|
|
60
|
|
|
1
|
%
|
|
9,515
|
|
|
8,716
|
|
|
799
|
|
|
9
|
%
|
||||||
Total revenue
|
$
|
79,876
|
|
|
$
|
78,280
|
|
|
$
|
1,596
|
|
|
2
|
%
|
|
$
|
137,029
|
|
|
$
|
153,848
|
|
|
$
|
(16,819
|
)
|
|
(11
|
)%
|
|
Three Months Ended June 30,
|
|
|
|
|
|
Six Months Ended
June 30, |
|
|
|
|
||||||||||||||||||
|
2020
|
|
2019
|
|
Change
|
|
2020
|
|
2019
|
|
Change
|
||||||||||||||||||
|
Amount
|
|
Amount
|
|
Amount
|
|
%
|
|
Amount
|
|
Amount
|
|
Amount
|
|
%
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
(Dollars in thousands)
|
||||||||||||||||||||||||||||
Cost of revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
License
|
$
|
6,282
|
|
|
$
|
5,622
|
|
|
$
|
660
|
|
|
12
|
%
|
|
$
|
11,701
|
|
|
$
|
13,229
|
|
|
$
|
(1,528
|
)
|
|
(12
|
)%
|
Subscription
|
7,041
|
|
|
5,599
|
|
|
1,442
|
|
|
26
|
%
|
|
14,054
|
|
|
10,806
|
|
|
3,248
|
|
|
30
|
%
|
||||||
Professional services
|
6,148
|
|
|
6,235
|
|
|
(87
|
)
|
|
(1
|
)%
|
|
13,313
|
|
|
12,421
|
|
|
892
|
|
|
7
|
%
|
||||||
Total cost of revenue
|
$
|
19,471
|
|
|
$
|
17,456
|
|
|
$
|
2,015
|
|
|
12
|
%
|
|
$
|
39,068
|
|
|
$
|
36,456
|
|
|
$
|
2,612
|
|
|
7
|
%
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||||||||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
||||||||||||||||||||
|
Gross Profit (Loss)
|
|
Gross Margin
|
|
Gross Profit (Loss)
|
|
Gross Margin
|
|
Gross Profit (Loss)
|
|
Gross Margin
|
|
Gross Profit (Loss)
|
|
Gross Margin
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
(Dollars in thousands)
|
||||||||||||||||||||||||||
Gross profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
License
|
$
|
31,295
|
|
|
83
|
%
|
|
$
|
33,209
|
|
|
86
|
%
|
|
$
|
40,675
|
|
|
78
|
%
|
|
$
|
63,282
|
|
|
83
|
%
|
Subscription
|
30,571
|
|
|
81
|
%
|
|
29,223
|
|
|
84
|
%
|
|
61,084
|
|
|
81
|
%
|
|
57,815
|
|
|
84
|
%
|
||||
Professional services
|
(1,461
|
)
|
|
(31
|
)%
|
|
(1,608
|
)
|
|
(35
|
)%
|
|
(3,798
|
)
|
|
(40
|
)%
|
|
(3,705
|
)
|
|
(43
|
)%
|
||||
Total gross profit
|
$
|
60,405
|
|
|
76
|
%
|
|
$
|
60,824
|
|
|
78
|
%
|
|
$
|
97,961
|
|
|
71
|
%
|
|
$
|
117,392
|
|
|
76
|
%
|
|
Three Months Ended June 30,
|
|
|
|
|
|
Six Months Ended
June 30,
|
|
|
|
|
||||||||||||||||||
|
2020
|
|
2019
|
|
Change
|
|
2020
|
|
2019
|
|
Change
|
||||||||||||||||||
|
Amount
|
|
Amount
|
|
Amount
|
|
%
|
|
Amount
|
|
Amount
|
|
Amount
|
|
%
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
(Dollars in thousands)
|
||||||||||||||||||||||||||||
Operating expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Research and development
|
$
|
21,514
|
|
|
$
|
19,440
|
|
|
$
|
2,074
|
|
|
11
|
%
|
|
$
|
44,760
|
|
|
$
|
37,937
|
|
|
$
|
6,823
|
|
|
18
|
%
|
Sales and marketing
|
38,988
|
|
|
56,173
|
|
|
(17,185
|
)
|
|
(31
|
)%
|
|
86,276
|
|
|
112,096
|
|
|
(25,820
|
)
|
|
(23
|
)%
|
||||||
General and administrative
|
21,733
|
|
|
15,838
|
|
|
5,895
|
|
|
37
|
%
|
|
46,214
|
|
|
32,051
|
|
|
14,163
|
|
|
44
|
%
|
||||||
Restructuring
|
859
|
|
|
—
|
|
|
859
|
|
|
100
|
%
|
|
3,371
|
|
|
—
|
|
|
3,371
|
|
|
100
|
%
|
||||||
Total operating expenses
|
$
|
83,094
|
|
|
$
|
91,451
|
|
|
$
|
(8,357
|
)
|
|
(9
|
)%
|
|
$
|
180,621
|
|
|
$
|
182,084
|
|
|
$
|
(1,463
|
)
|
|
(1
|
)%
|
|
Three Months Ended June 30,
|
|
|
|
|
|
Six Months Ended
June 30,
|
|
|
|
|
||||||||||||||||||
|
2020
|
|
2019
|
|
Change
|
|
2020
|
|
2019
|
|
Change
|
||||||||||||||||||
|
Amount
|
|
Amount
|
|
Amount
|
|
%
|
|
Amount
|
|
Amount
|
|
Amount
|
|
%
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
(Dollars in thousands)
|
||||||||||||||||||||||||||||
Other income (expense), net
|
$
|
572
|
|
|
$
|
505
|
|
|
$
|
67
|
|
|
13
|
%
|
|
$
|
(29
|
)
|
|
$
|
1,122
|
|
|
$
|
(1,151
|
)
|
|
(103
|
)%
|
|
Three Months Ended June 30,
|
|
|
|
|
|
Six Months Ended
June 30,
|
|
|
|
|
||||||||||||||||||
|
2020
|
|
2019
|
|
Change
|
|
2020
|
|
2019
|
|
Change
|
||||||||||||||||||
|
Amount
|
|
Amount
|
|
Amount
|
|
%
|
|
Amount
|
|
Amount
|
|
Amount
|
|
%
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
(Dollars in thousands)
|
||||||||||||||||||||||||||||
Income tax provision
|
$
|
1,288
|
|
|
$
|
496
|
|
|
$
|
792
|
|
|
160
|
%
|
|
$
|
1,720
|
|
|
$
|
1,207
|
|
|
$
|
513
|
|
|
43
|
%
|
Effective tax rate
|
(5.8
|
)%
|
|
(1.6
|
)%
|
|
|
|
|
|
(2.1
|
)%
|
|
(1.9
|
)%
|
|
|
|
|
|
|
As of
|
||||||
|
|
June 30, 2020
|
|
December 31, 2019
|
||||
|
|
|
|
|
||||
|
|
(In thousands)
|
||||||
Working capital
|
|
$
|
(25,560
|
)
|
|
$
|
25,320
|
|
Cash, cash equivalents, and marketable securities:
|
|
|
|
|
||||
Cash and cash equivalents
|
|
$
|
54,947
|
|
|
$
|
69,030
|
|
Marketable securities
|
|
2,021
|
|
|
29,181
|
|
||
Total cash, cash equivalents, and marketable securities
|
|
56,968
|
|
|
98,211
|
|
||
Total notes payable
|
|
4,550
|
|
|
8,248
|
|
||
Net cash, cash equivalents, and marketable securities
|
|
$
|
52,418
|
|
|
$
|
89,963
|
|
|
|
Six Months Ended June 30,
|
||||||
2020
|
|
2019
|
||||||
|
|
|
|
|
||||
|
|
(In thousands)
|
||||||
Net cash used in operating activities
|
|
$
|
(44,771
|
)
|
|
$
|
(18,747
|
)
|
Net cash provided by (used in) investing activities
|
|
25,645
|
|
|
(13,617
|
)
|
||
Net cash provided by financing activities
|
|
4,542
|
|
|
12,675
|
|
||
Effect of exchange rate changes on cash and cash equivalents
|
|
—
|
|
|
(4
|
)
|
||
Net change in cash, cash equivalents, and restricted cash for period
|
|
$
|
(14,584
|
)
|
|
$
|
(19,693
|
)
|
|
|
ITEM 3.
|
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
|
|
|
ITEM 4.
|
CONTROLS AND PROCEDURES
|
|
|
ITEM 1.
|
LEGAL PROCEEDINGS
|
|
|
ITEM 1A.
|
RISK FACTORS
|
|
|
ITEM 6.
|
EXHIBITS
|
Exhibit
Number |
|
Description
|
31.1
|
|
|
31.2
|
|
|
32.1†
|
|
|
32.2†
|
|
|
101.INS
|
|
XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
|
101.SCH
|
|
Inline XBRL Taxonomy Schema Linkbase Document.
|
101.CAL
|
|
Inline XBRL Taxonomy Calculation Linkbase Document.
|
101.DEF
|
|
Inline XBRL Taxonomy Definition Linkbase Document.
|
101.LAB
|
|
Inline XBRL Taxonomy Labels Linkbase Document.
|
101.PRE
|
|
Inline XBRL Taxonomy Presentation Linkbase Document.
|
104
|
|
Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).
|
†
|
This certification is deemed not filed with the Securities and Exchange Commission and is not to be incorporated by reference into any filing of Forescout Technologies, Inc. under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this Quarterly Report on Form 10‑Q, irrespective of any general incorporation language contained in such filing.
|
|
FORESCOUT TECHNOLOGIES, INC.
|
|
|
Dated: August 5, 2020
|
By: /s/ Darren J. Milliken
|
|
Darren J. Milliken
|
|
Senior Vice President, General Counsel, Corporate Secretary and Corporate Compliance Officer
|
|
|
Dated: August 5, 2020
|
By: /s/ Christopher Harms
|
|
Christopher Harms
|
|
Chief Financial Officer
|
|
Principal Financial Officer
|
1 Year ForeScout Technologies Chart |
1 Month ForeScout Technologies Chart |
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