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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Proofpoint Inc | NASDAQ:PFPT | 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% | 175.90 | 175.01 | 174.00 | 0 | 01:00:00 |
þ
|
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
o
|
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
(State or other jurisdiction of incorporation or organization) |
|
51-0414846
(I.R.S. employer identification no.) |
892 Ross Drive
Sunnyvale, California
(Address of principal executive offices) |
|
94089
(Zip Code) |
Large accelerated filer
þ
|
|
Accelerated filer
o
|
|
Non-accelerated filer
o
(Do not check if a smaller reporting company)
|
|
Smaller reporting company
o
|
|
Emerging growth company
o
|
|
|
|
June 30,
|
|
December 31,
|
||||
|
2017
|
|
2016
|
||||
Assets
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
392,886
|
|
|
$
|
345,426
|
|
Short-term investments
|
36,599
|
|
|
51,325
|
|
||
Accounts receivable, net
|
75,568
|
|
|
72,951
|
|
||
Inventory
|
497
|
|
|
598
|
|
||
Deferred product costs
|
1,488
|
|
|
1,829
|
|
||
Deferred commissions
|
20,516
|
|
|
21,168
|
|
||
Prepaid expenses and other current assets
|
12,411
|
|
|
17,498
|
|
||
Total current assets
|
539,965
|
|
|
510,795
|
|
||
Property and equipment, net
|
64,712
|
|
|
52,523
|
|
||
Deferred product costs
|
292
|
|
|
310
|
|
||
Goodwill
|
167,270
|
|
|
167,270
|
|
||
Intangible assets, net
|
53,386
|
|
|
61,708
|
|
||
Long-term deferred commissions
|
4,356
|
|
|
4,496
|
|
||
Other assets
|
10,725
|
|
|
4,558
|
|
||
Total assets
|
$
|
840,706
|
|
|
$
|
801,660
|
|
Liabilities and Stockholders’ Equity
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
14,273
|
|
|
$
|
15,297
|
|
Accrued liabilities
|
40,267
|
|
|
50,765
|
|
||
Capital lease obligations
|
31
|
|
|
32
|
|
||
Deferred rent
|
460
|
|
|
409
|
|
||
Deferred revenue
|
297,446
|
|
|
259,109
|
|
||
Total current liabilities
|
352,477
|
|
|
325,612
|
|
||
Convertible senior notes
|
377,422
|
|
|
366,541
|
|
||
Long-term capital lease obligations
|
75
|
|
|
91
|
|
||
Long-term deferred rent
|
3,186
|
|
|
2,413
|
|
||
Other long-term liabilities
|
10,877
|
|
|
9,008
|
|
||
Long-term deferred revenue
|
62,903
|
|
|
53,072
|
|
||
Total liabilities
|
806,940
|
|
|
756,737
|
|
||
Commitments and contingencies (note 5)
|
|
|
|
||||
Stockholders’ equity:
|
|
|
|
||||
Convertible preferred stock, $0.0001 par value; 5,000 shares authorized; no shares issued and outstanding
|
—
|
|
|
—
|
|
||
Common stock, $0.0001 par value; 200,000 shares authorized; 44,337 and 43,015 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively
|
4
|
|
|
4
|
|
||
Additional paid-in capital
|
555,287
|
|
|
514,034
|
|
||
Accumulated other comprehensive loss
|
(3
|
)
|
|
(7
|
)
|
||
Accumulated deficit
|
(521,522
|
)
|
|
(469,108
|
)
|
||
Total stockholders’ equity
|
33,766
|
|
|
44,923
|
|
||
Total liabilities and stockholders’ equity
|
$
|
840,706
|
|
|
$
|
801,660
|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Net loss
|
$
|
(25,935
|
)
|
|
$
|
(38,301
|
)
|
|
$
|
(51,415
|
)
|
|
$
|
(69,957
|
)
|
Other comprehensive income, net of tax:
|
|
|
|
|
|
|
|
||||||||
Unrealized gain on short-term investments, net
|
—
|
|
|
—
|
|
|
4
|
|
|
21
|
|
||||
Comprehensive loss
|
$
|
(25,935
|
)
|
|
$
|
(38,301
|
)
|
|
$
|
(51,411
|
)
|
|
$
|
(69,936
|
)
|
|
Six Months Ended
June 30, |
||||||
|
2017
|
|
2016
|
||||
Cash flows from operating activities
|
|
|
|
||||
Net loss
|
$
|
(51,415
|
)
|
|
$
|
(69,957
|
)
|
Adjustments to reconcile net loss to net cash provided by operating activities:
|
|
|
|
||||
Depreciation and amortization
|
19,147
|
|
|
14,621
|
|
||
Loss on disposal of property and equipment
|
357
|
|
|
288
|
|
||
Amortization of investment premiums, net of accretion of purchase discounts
|
10
|
|
|
35
|
|
||
Stock-based compensation
|
46,878
|
|
|
37,191
|
|
||
Change in fair value of contingent earn-outs
|
(1,730
|
)
|
|
—
|
|
||
Amortization of debt issuance costs and accretion of debt discount
|
10,888
|
|
|
10,268
|
|
||
Foreign currency transaction (gain) loss
|
(86
|
)
|
|
35
|
|
||
Changes in assets and liabilities, net of effect of acquisitions:
|
|
|
|
||||
Accounts receivable
|
(2,725
|
)
|
|
(3,299
|
)
|
||
Inventory
|
101
|
|
|
183
|
|
||
Deferred product costs
|
359
|
|
|
435
|
|
||
Deferred commissions
|
791
|
|
|
621
|
|
||
Prepaid expenses
|
(1,686
|
)
|
|
(533
|
)
|
||
Other current assets
|
260
|
|
|
104
|
|
||
Deferred income taxes
|
(2,116
|
)
|
|
(167
|
)
|
||
Long-term assets
|
(3,710
|
)
|
|
51
|
|
||
Accounts payable
|
(1,374
|
)
|
|
5,959
|
|
||
Accrued liabilities
|
4,014
|
|
|
(755
|
)
|
||
Deferred rent
|
824
|
|
|
(12
|
)
|
||
Deferred revenue
|
48,168
|
|
|
30,643
|
|
||
Net cash provided by operating activities
|
66,955
|
|
|
25,711
|
|
||
Cash flows from investing activities
|
|
|
|
||||
Proceeds from sales and maturities of short-term investments
|
56,081
|
|
|
68,900
|
|
||
Purchase of short-term investments
|
(41,360
|
)
|
|
(53,742
|
)
|
||
Purchase of property and equipment
|
(22,867
|
)
|
|
(16,194
|
)
|
||
Receipt from escrow account
|
4,620
|
|
|
—
|
|
||
Net cash used in investing activities
|
(3,526
|
)
|
|
(1,036
|
)
|
||
Cash flows from financing activities
|
|
|
|
||||
Proceeds from issuance of common stock
|
13,218
|
|
|
10,335
|
|
||
Withholding taxes related to restricted stock net share settlement
|
(25,122
|
)
|
|
(12,572
|
)
|
||
Repayments of equipment loans and capital lease obligations
|
(16
|
)
|
|
(16
|
)
|
||
Holdback payments for prior acquisitions
|
—
|
|
|
(1,397
|
)
|
||
Contingent consideration payment
|
(4,620
|
)
|
|
—
|
|
||
Net cash used in financing activities
|
(16,540
|
)
|
|
(3,650
|
)
|
||
Effect of exchange rate changes on cash and cash equivalents
|
571
|
|
|
30
|
|
||
Net increase in cash and cash equivalents
|
47,460
|
|
|
21,055
|
|
||
Cash and cash equivalents
|
|
|
|
||||
Beginning of period
|
345,426
|
|
|
346,205
|
|
||
End of period
|
$
|
392,886
|
|
|
$
|
367,260
|
|
|
|
|
|
||||
Supplemental disclosure of noncash investing and financing information
|
|
|
|
||||
Unpaid purchases of property and equipment and asset retirement obligations
|
$
|
6,275
|
|
|
$
|
5,773
|
|
Liability awards converted to equity
|
$
|
8,307
|
|
|
$
|
6,059
|
|
|
Low
|
|
High
|
Patents
|
4
|
|
5
|
Developed technology
|
3
|
|
7
|
Customer relationships
|
2
|
|
7
|
Non-compete agreements
|
2
|
|
4
|
Order backlog
|
1
|
|
3
|
Trade names and trademarks
|
1
|
|
5
|
•
|
Persuasive evidence of an arrangement exists;
|
•
|
Delivery has occurred or services have been rendered;
|
•
|
Sales price is fixed or determinable; and
|
•
|
Collectability is reasonably assured.
|
|
Estimated
Fair Value |
Estimated
Useful Life (in years) |
||
Current assets acquired
|
$
|
432
|
|
N/A
|
Developed technology
|
22,600
|
|
5
|
|
Fixed assets
|
52
|
|
N/A
|
|
Deferred tax liability, net
|
(3,530
|
)
|
N/A
|
|
Other liabilities assumed
|
(540
|
)
|
N/A
|
|
Additional-paid-in-capital
|
(176
|
)
|
N/A
|
|
Goodwill
|
26,988
|
|
Indefinite
|
|
|
$
|
45,826
|
|
|
|
Estimated
Fair Value |
Estimated
Useful Life (in years) |
||
Customer relationships
|
$
|
7,600
|
|
6
|
Developed technology
|
3,900
|
|
4
|
|
Order backlog
|
700
|
|
1
|
|
Deferred revenue assumed
|
(1,200
|
)
|
N/A
|
|
Goodwill
|
6,513
|
|
Indefinite
|
|
|
$
|
17,513
|
|
|
|
June 30, 2017
|
|
December 31, 2016
|
||||||||||||||||||||
|
Gross
Carrying Amount |
|
Accumulated
Amortization |
|
Net
Carrying Amount |
|
Gross
Carrying Amount |
|
Accumulated
Amortization |
|
Net
Carrying Amount |
||||||||||||
Developed technology
|
$
|
83,769
|
|
|
$
|
(44,418
|
)
|
|
$
|
39,351
|
|
|
$
|
83,769
|
|
|
$
|
(38,042
|
)
|
|
$
|
45,727
|
|
Customer relationships
|
17,700
|
|
|
(4,343
|
)
|
|
13,357
|
|
|
17,943
|
|
|
(3,228
|
)
|
|
14,715
|
|
||||||
Trade names and patents
|
930
|
|
|
(755
|
)
|
|
175
|
|
|
930
|
|
|
(667
|
)
|
|
263
|
|
||||||
Order backlog
|
1,600
|
|
|
(1,097
|
)
|
|
503
|
|
|
1,600
|
|
|
(597
|
)
|
|
1,003
|
|
||||||
|
$
|
103,999
|
|
|
$
|
(50,613
|
)
|
|
$
|
53,386
|
|
|
$
|
104,242
|
|
|
$
|
(42,534
|
)
|
|
$
|
61,708
|
|
•
|
Level 1: Quoted (unadjusted) prices in active markets for identical assets or liabilities.
|
•
|
Level 2: Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability.
|
•
|
Level 3: Unobservable inputs to the valuation methodology that are supported by little or no market activity and that are significant to the measurement of the fair value of the assets or liabilities. Level 3 assets and liabilities include those whose fair value measurements are determined using pricing models, discounted cash flow methodologies or similar valuation techniques, as well as significant management judgment or estimation.
|
|
Balance as of
June 30, 2017 |
|
Quoted Prices
in Active Markets for Identical Assets (Level 1) |
|
Significant
Other Observable Inputs (Level 2) |
|
Unobservable
Inputs (Level 3) |
||||||||
Assets
|
|
|
|
|
|
|
|
||||||||
Cash equivalents:
|
|
|
|
|
|
|
|
||||||||
Money market funds
|
$
|
317,564
|
|
|
$
|
317,564
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Corporate debt securities
|
1,125
|
|
|
—
|
|
|
1,125
|
|
|
—
|
|
||||
U.S. agency securities
|
3,994
|
|
|
—
|
|
|
3,994
|
|
|
—
|
|
||||
Commercial paper
|
18,683
|
|
|
—
|
|
|
18,683
|
|
|
—
|
|
||||
U.S. Treasury securities
|
1,997
|
|
|
—
|
|
|
1,997
|
|
|
—
|
|
||||
Short-term investments:
|
|
|
|
|
|
|
|
||||||||
Corporate debt securities
|
5,765
|
|
|
—
|
|
|
5,765
|
|
|
—
|
|
||||
Commercial papers
|
30,834
|
|
|
—
|
|
|
30,834
|
|
|
—
|
|
||||
Total financial assets
|
$
|
379,962
|
|
|
$
|
317,564
|
|
|
$
|
62,398
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
||||||||
Liabilities
|
|
|
|
|
|
|
|
||||||||
Acquisition-related contingent consideration liability
|
$
|
1,883
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,883
|
|
|
Balance as of
December 31, 2016 |
|
Quoted Prices
in Active Markets for Identical Assets (Level 1) |
|
Significant
Other Observable Inputs (Level 2) |
|
Unobservable
Inputs (Level 3) |
||||||||
Assets
|
|
|
|
|
|
|
|
||||||||
Cash equivalents:
|
|
|
|
|
|
|
|
||||||||
Money market funds
|
$
|
304,020
|
|
|
$
|
304,020
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Corporate debt securities
|
2,139
|
|
|
—
|
|
|
2,139
|
|
|
—
|
|
||||
Commercial paper
|
13,243
|
|
|
—
|
|
|
13,243
|
|
|
—
|
|
||||
Short-term investments:
|
|
|
|
|
|
|
|
||||||||
Corporate debt securities
|
24,450
|
|
|
—
|
|
|
24,450
|
|
|
—
|
|
||||
Commercial paper
|
22,979
|
|
|
—
|
|
|
22,979
|
|
|
—
|
|
||||
U.S. agency securities
|
1,946
|
|
|
—
|
|
|
1,946
|
|
|
—
|
|
||||
U.S. Treasury securities
|
1,950
|
|
|
—
|
|
|
1,950
|
|
|
—
|
|
||||
Total financial assets
|
$
|
370,727
|
|
|
$
|
304,020
|
|
|
$
|
66,707
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
||||||||
Liabilities
|
|
|
|
|
|
|
|
||||||||
Acquisition-related contingent consideration liability
|
$
|
8,233
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
8,233
|
|
|
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
|
||
Balance as of December 31, 2016
|
$
|
8,233
|
|
Payments during the period
|
(4,620
|
)
|
|
Adjustments to fair value during the period recorded in General and administrative expenses
|
(1,730
|
)
|
|
Balance as of June 30, 2017
|
$
|
1,883
|
|
|
June 30, 2017
|
||||||||||||||
|
Cost Basis
|
|
Unrealized Gains
|
|
Unrealized Losses
|
|
Fair Value
|
||||||||
Cash and cash equivalents:
|
|
|
|
|
|
|
|
||||||||
Cash
|
$
|
49,523
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
49,523
|
|
Money market funds
|
317,564
|
|
|
—
|
|
|
—
|
|
|
317,564
|
|
||||
Corporate debt securities
|
1,125
|
|
|
—
|
|
|
—
|
|
|
1,125
|
|
||||
U.S. agency securities
|
3,994
|
|
|
—
|
|
|
—
|
|
|
3,994
|
|
||||
Commercial paper
|
18,683
|
|
|
—
|
|
|
—
|
|
|
18,683
|
|
||||
U.S. Treasury securities
|
1,997
|
|
|
—
|
|
|
—
|
|
|
1,997
|
|
||||
Total
|
$
|
392,886
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
392,886
|
|
|
|
|
|
|
|
|
|
||||||||
Short-term investments:
|
|
|
|
|
|
|
|
||||||||
Corporate debt securities
|
$
|
5,767
|
|
|
|
|
|
$
|
(2
|
)
|
|
$
|
5,765
|
|
|
Commercial paper
|
30,834
|
|
|
—
|
|
|
—
|
|
|
30,834
|
|
||||
Total
|
$
|
36,601
|
|
|
$
|
—
|
|
|
$
|
(2
|
)
|
|
$
|
36,599
|
|
|
December 31, 2016
|
||||||||||||||
|
Cost Basis
|
|
Unrealized Gains
|
|
Unrealized Losses
|
|
Fair Value
|
||||||||
Cash and cash equivalents:
|
|
|
|
|
|
|
|
||||||||
Cash
|
$
|
26,024
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
26,024
|
|
Money market funds
|
304,020
|
|
|
—
|
|
|
—
|
|
|
304,020
|
|
||||
Corporate debt securities
|
2,140
|
|
|
—
|
|
|
(1
|
)
|
|
2,139
|
|
||||
Commercial papers
|
13,243
|
|
|
—
|
|
|
—
|
|
|
13,243
|
|
||||
Total
|
$
|
345,427
|
|
|
$
|
—
|
|
|
$
|
(1
|
)
|
|
$
|
345,426
|
|
|
|
|
|
|
|
|
|
||||||||
Short-term investments:
|
|
|
|
|
|
|
|
||||||||
Corporate debt securities
|
$
|
24,458
|
|
|
$
|
—
|
|
|
$
|
(8
|
)
|
|
$
|
24,450
|
|
Commercial papers
|
22,979
|
|
|
—
|
|
|
—
|
|
|
22,979
|
|
||||
U.S. agency securities
|
1,945
|
|
|
1
|
|
|
—
|
|
|
1,946
|
|
||||
U.S. Treasury securities
|
1,950
|
|
|
—
|
|
|
—
|
|
|
1,950
|
|
||||
Total
|
$
|
51,332
|
|
|
$
|
1
|
|
|
$
|
(8
|
)
|
|
$
|
51,325
|
|
|
Capital
Leases |
|
Operating
Leases |
||||
Year ending December 31,
|
|
|
|
||||
2017, remainder
|
$
|
21
|
|
|
$
|
7,908
|
|
2018
|
39
|
|
|
15,541
|
|
||
2019
|
37
|
|
|
13,307
|
|
||
2020
|
21
|
|
|
6,348
|
|
||
2021
|
—
|
|
|
3,136
|
|
||
Thereafter
|
—
|
|
|
6,866
|
|
||
Total minimum lease payments
|
118
|
|
|
$
|
53,106
|
|
|
Less: Amount representing interest
|
(12
|
)
|
|
|
|||
Present value of capital lease obligations
|
106
|
|
|
|
|||
Less: current portion
|
(31
|
)
|
|
|
|||
Long-term portion of capital lease obligations
|
$
|
75
|
|
|
|
•
|
during the calendar quarter commencing after September 30, 2015, if the last reported sale price of the Company's common stock is greater than or equal to
130%
of the applicable conversion price on each such trading day for at least
20
trading days (whether or not consecutive) during the period of
30
consecutive trading days ending on the last trading day of the preceding calendar quarter;
|
•
|
during the
5
business day period after any
5
consecutive trading day period in which the trading price, as defined, per
$1
principal amount of the 0.75% Notes for each trading day of such measurement period was less than
98%
of the product of the last reported sale price of the Company's common stock and the applicable conversion rate on each such trading day;
|
•
|
upon a notice of redemption by the Company; or
|
•
|
upon the occurrence of specified corporate transactions.
|
•
|
during the calendar quarter commencing after March 31, 2014, if the last reported sale price of the Company's common stock is greater than or equal to
130%
of the applicable conversion price on each such trading day for at least
20
trading days (whether or not consecutive) during the period of
30
consecutive trading days ending on the last trading day of the preceding calendar quarter;
|
•
|
during the
5
business day period after any
5
consecutive trading day period in which the trading price, as defined, per
$1
principal amount of the 1.25% Notes for each trading day of such measurement period was less than
98%
of the product of the last reported sale price of the Company's common stock and the applicable conversion rate on each such trading day;
|
•
|
upon a notice of redemption by the Company; or
|
•
|
upon the occurrence of specified corporate transactions.
|
|
June 30, 2017
|
||||||||||
|
0.75% Notes
|
|
1.25% Notes
|
|
Total
|
||||||
Liability component:
|
|
|
|
|
|
||||||
Principal
|
$
|
230,000
|
|
|
$
|
201,243
|
|
|
$
|
431,243
|
|
Less: debt discount and issuance costs, net of amortization
|
(38,109
|
)
|
|
(15,712
|
)
|
|
(53,821
|
)
|
|||
Net carrying amount
|
$
|
191,891
|
|
|
$
|
185,531
|
|
|
$
|
377,422
|
|
|
|
|
|
|
|
||||||
Equity component (1)
|
$
|
54,049
|
|
|
$
|
43,293
|
|
|
$
|
97,342
|
|
|
December 31, 2016
|
||||||||||
|
0.75% Notes
|
|
1.25% Notes
|
|
Total
|
||||||
Liability component:
|
|
|
|
|
|
||||||
Principal
|
$
|
230,000
|
|
|
$
|
201,250
|
|
|
$
|
431,250
|
|
Less: debt discount and issuance costs, net of amortization
|
(43,896
|
)
|
|
(20,813
|
)
|
|
(64,709
|
)
|
|||
Net carrying amount
|
$
|
186,104
|
|
|
$
|
180,437
|
|
|
$
|
366,541
|
|
|
|
|
|
|
|
||||||
Equity component (1)
|
$
|
54,049
|
|
|
$
|
43,293
|
|
|
$
|
97,342
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Interest expense related to contractual interest coupon
|
$
|
1,060
|
|
|
$
|
1,060
|
|
|
$
|
2,120
|
|
|
$
|
2,120
|
|
Amortization of debt discount and issuance costs
|
5,484
|
|
|
5,172
|
|
|
10,888
|
|
|
10,268
|
|
||||
|
$
|
6,544
|
|
|
$
|
6,232
|
|
|
$
|
13,008
|
|
|
$
|
12,388
|
|
|
Shares subject to Options Outstanding
|
|||||||||||
|
Number of
Shares
|
|
Weighted Average
Exercise Price
|
|
Weighted Average
Remaining Contractual Term
(in years)
|
|
Aggregate
Intrinsic
Value
|
|||||
Balance at December 31, 2016
|
3,183
|
|
|
$
|
18.91
|
|
|
5.39
|
|
$
|
164,842
|
|
Options exercised
|
(747
|
)
|
|
9.53
|
|
|
|
|
|
|||
Options forfeited and canceled
|
(29
|
)
|
|
46.68
|
|
|
|
|
|
|||
Balance at June 30, 2017
|
2,407
|
|
|
$
|
21.48
|
|
|
5.40
|
|
$
|
157,290
|
|
|
RSUs and PSUs Outstanding
|
|||||
|
Number of
Shares
|
|
Granted Fair Value Per Unit
|
|||
Awarded and unvested at December 31, 2016
|
3,465
|
|
|
$
|
56.11
|
|
Awards granted
|
935
|
|
|
81.37
|
|
|
Awards vested
|
(755
|
)
|
|
48.40
|
|
|
Awards forfeited
|
(326
|
)
|
|
60.30
|
|
|
Awarded and unvested at June 30, 2017
|
3,319
|
|
|
$
|
64.57
|
|
|
As of June 30,
|
||||
|
2017
|
|
2016
|
||
Stock options to purchase common stock
|
2,407
|
|
|
3,677
|
|
Restricted stock units
|
3,319
|
|
|
3,217
|
|
Employee stock purchase plan
|
102
|
|
|
104
|
|
Common stock subject to repurchase
|
127
|
|
|
78
|
|
Bonus and other liability awards
|
56
|
|
|
125
|
|
1.25% Convertible senior notes
|
5,158
|
|
|
5,158
|
|
0.75% Convertible senior notes
|
2,831
|
|
|
2,831
|
|
Total
|
14,000
|
|
|
15,190
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Total revenue by solution:
|
|
|
|
|
|
|
|
||||||||
Protection and Advanced Threat
|
$
|
90,376
|
|
|
$
|
64,797
|
|
|
$
|
174,856
|
|
|
$
|
121,259
|
|
Archiving, Privacy and Governance
|
31,953
|
|
|
25,107
|
|
|
60,723
|
|
|
47,648
|
|
||||
Total revenue
|
$
|
122,329
|
|
|
$
|
89,904
|
|
|
$
|
235,579
|
|
|
$
|
168,907
|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30,
|
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
Total revenue:
|
|
|
|
|
|
|
|
||||||||
United States
|
$
|
102,084
|
|
|
$
|
74,907
|
|
|
$
|
196,644
|
|
|
$
|
140,356
|
|
Rest of world
|
20,245
|
|
|
14,997
|
|
|
38,935
|
|
|
28,551
|
|
||||
Total revenue
|
$
|
122,329
|
|
|
$
|
89,904
|
|
|
$
|
235,579
|
|
|
$
|
168,907
|
|
|
As of
June 30,
|
|
As of
December 31,
|
||||
|
2017
|
|
2016
|
||||
Long-lived assets:
|
|
|
|
||||
United States
|
$
|
55,006
|
|
|
$
|
43,789
|
|
Rest of world
|
9,706
|
|
|
8,734
|
|
||
Total long‑lived assets
|
$
|
64,712
|
|
|
$
|
52,523
|
|
•
|
protecting users from the advanced attacks that target them via email, social media and mobile applications;
|
•
|
preventing the theft or inadvertent loss of sensitive information and, in turn, ensuring compliance with regulatory data protection mandates;
|
•
|
collecting, retaining, governing and discovering sensitive data for compliance and litigation support; and
|
•
|
enabling organizations to respond quickly to security issues, providing both the intelligence and the context to prioritize incidents and orchestrate remediation actions.
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
|
(dollars in thousands)
|
|
(in thousands)
|
||||||||||||
Total revenue
|
$
|
122,329
|
|
|
$
|
89,904
|
|
|
$
|
235,579
|
|
|
$
|
168,907
|
|
Growth
|
36
|
%
|
|
41
|
%
|
|
39
|
%
|
|
39
|
%
|
||||
Gross margin percentage
|
72
|
%
|
|
70
|
%
|
|
72
|
%
|
|
70
|
%
|
||||
Non-GAAP gross margin
|
77
|
%
|
|
75
|
%
|
|
77
|
%
|
|
74
|
%
|
||||
Billings (non-GAAP)
|
$
|
146,309
|
|
|
$
|
101,246
|
|
|
$
|
283,747
|
|
|
$
|
199,551
|
|
Growth
|
45
|
%
|
|
34
|
%
|
|
42
|
%
|
|
41
|
%
|
||||
Free cash flows (non-GAAP)
|
$
|
15,870
|
|
|
$
|
(63
|
)
|
|
$
|
44,088
|
|
|
$
|
9,517
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
|
(in thousands)
|
|
(in thousands)
|
||||||||||||
GAAP gross profit
|
$
|
87,836
|
|
|
$
|
63,246
|
|
|
$
|
168,710
|
|
|
$
|
117,425
|
|
GAAP gross margin
|
72
|
%
|
|
70
|
%
|
|
72
|
%
|
|
70
|
%
|
||||
Plus:
|
|
|
|
|
|
|
|
||||||||
Stock-based compensation expense
|
3,332
|
|
|
2,113
|
|
|
6,147
|
|
|
4,104
|
|
||||
Intangible amortization expense
|
3,189
|
|
|
2,118
|
|
|
6,377
|
|
|
4,235
|
|
||||
Non-GAAP gross profit
|
$
|
94,357
|
|
|
$
|
67,477
|
|
|
$
|
181,234
|
|
|
$
|
125,764
|
|
Non-GAAP gross margin
|
77
|
%
|
|
75
|
%
|
|
77
|
%
|
|
74
|
%
|
•
|
Billings is not a substitute for revenue, as trends in billings are not necessarily directly correlated to trends in revenue;
|
•
|
Billings is affected by a combination of factors including the timing of renewals, the sales of our solutions to both new and existing customers, the relative duration of contracts sold, and the relative amount of business derived from strategic partners. As each of these elements has unique characteristics in the relationship between billings and revenue, our billings activity is not necessarily closely correlated to revenue; and
|
•
|
Other companies, including companies in our industry, may not use billings, may calculate billings differently, or may use other financial measures to evaluate their performance ‑ all of which reduce the usefulness of billings as a comparative measure.
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30,
|
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
|
(in thousands)
|
|
(in thousands)
|
||||||||||||
Total revenue
|
$
|
122,329
|
|
|
$
|
89,904
|
|
|
$
|
235,579
|
|
|
$
|
168,907
|
|
Deferred revenue
|
|
|
|
|
|
|
|
||||||||
Ending
|
360,349
|
|
|
254,370
|
|
|
360,349
|
|
|
254,370
|
|
||||
Beginning
|
336,369
|
|
|
243,028
|
|
|
312,181
|
|
|
223,726
|
|
||||
Net change
|
23,980
|
|
|
11,342
|
|
|
48,168
|
|
|
30,644
|
|
||||
Less: deferred revenue contributed by acquisitions
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Billings
|
$
|
146,309
|
|
|
$
|
101,246
|
|
|
$
|
283,747
|
|
|
$
|
199,551
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||
|
(in thousands)
|
|
(in thousands)
|
||||||||||||
GAAP cash flows provided by operating activities:
|
$
|
26,486
|
|
|
$
|
8,293
|
|
|
$
|
66,955
|
|
|
$
|
25,711
|
|
Less:
|
|
|
|
|
|
|
|
||||||||
Purchases of property and equipment
|
(10,616
|
)
|
|
(8,356
|
)
|
|
(22,867
|
)
|
|
(16,194
|
)
|
||||
Non-GAAP free cash flows
|
$
|
15,870
|
|
|
$
|
(63
|
)
|
|
$
|
44,088
|
|
|
$
|
9,517
|
|
|
Three Months Ended
June 30,
|
|
Six Months Ended
June 30,
|
||||||||||||||||||||||||
|
2017
|
|
2016
|
|
2017
|
|
2016
|
||||||||||||||||||||
|
Amount
|
|
% of revenue
|
|
Amount
|
|
% of revenue
|
|
Amount
|
|
% of revenue
|
|
Amount
|
|
% of revenue
|
||||||||||||
|
($ in thousands)
|
|
($ in thousands)
|
||||||||||||||||||||||||
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Subscription
|
$
|
118,928
|
|
|
97
|
%
|
|
$
|
87,318
|
|
|
97
|
%
|
|
$
|
229,853
|
|
|
98
|
%
|
|
$
|
164,715
|
|
|
98
|
%
|
Hardware and services
|
3,401
|
|
|
3
|
|
|
2,586
|
|
|
3
|
|
|
5,726
|
|
|
2
|
|
|
4,192
|
|
|
2
|
|
||||
Total revenue
|
122,329
|
|
|
100
|
|
|
89,904
|
|
|
100
|
|
|
235,579
|
|
|
100
|
|
|
168,907
|
|
|
100
|
|
||||
Cost of revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Subscription
|
30,363
|
|
|
25
|
|
|
23,198
|
|
|
26
|
|
|
58,684
|
|
|
25
|
|
|
44,880
|
|
|
26
|
|
||||
Hardware and services
|
4,130
|
|
|
3
|
|
|
3,460
|
|
|
4
|
|
|
8,185
|
|
|
3
|
|
|
6,602
|
|
|
4
|
|
||||
Total cost of revenue
|
34,493
|
|
|
28
|
|
|
26,658
|
|
|
30
|
|
|
66,869
|
|
|
28
|
|
|
51,482
|
|
|
30
|
|
||||
Gross profit
|
87,836
|
|
|
72
|
|
|
63,246
|
|
|
70
|
|
|
168,710
|
|
|
72
|
|
|
117,425
|
|
|
70
|
|
||||
Operating expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Research and development
|
32,306
|
|
|
27
|
|
|
23,588
|
|
|
26
|
|
|
61,912
|
|
|
26
|
|
|
46,241
|
|
|
28
|
|
||||
Sales and marketing
|
62,454
|
|
|
51
|
|
|
48,664
|
|
|
54
|
|
|
121,186
|
|
|
52
|
|
|
95,187
|
|
|
56
|
|
||||
General and administrative
|
12,348
|
|
|
10
|
|
|
22,999
|
|
|
26
|
|
|
22,835
|
|
|
10
|
|
|
33,603
|
|
|
20
|
|
||||
Total operating expense
|
107,108
|
|
|
88
|
|
|
95,251
|
|
|
106
|
|
|
205,933
|
|
|
88
|
|
|
175,031
|
|
|
104
|
|
||||
Operating loss
|
(19,272
|
)
|
|
(16
|
)
|
|
(32,005
|
)
|
|
(36
|
)
|
|
(37,223
|
)
|
|
(16
|
)
|
|
(57,606
|
)
|
|
(34
|
)
|
||||
Interest expense
|
(5,848
|
)
|
|
(5
|
)
|
|
(5,809
|
)
|
|
(7
|
)
|
|
(11,814
|
)
|
|
(5
|
)
|
|
(11,609
|
)
|
|
(7
|
)
|
||||
Other income (expense), net
|
184
|
|
|
—
|
|
|
(302
|
)
|
|
—
|
|
|
55
|
|
|
—
|
|
|
(300
|
)
|
|
—
|
|
||||
Loss before provision for income taxes
|
(24,936
|
)
|
|
(21
|
)
|
|
(38,116
|
)
|
|
(43
|
)
|
|
(48,982
|
)
|
|
(21
|
)
|
|
(69,515
|
)
|
|
(41
|
)
|
||||
Provision for income taxes
|
(999
|
)
|
|
—
|
|
|
(185
|
)
|
|
—
|
|
|
(2,433
|
)
|
|
(1
|
)
|
|
(442
|
)
|
|
—
|
|
||||
Net loss
|
$
|
(25,935
|
)
|
|
(21
|
)%
|
|
$
|
(38,301
|
)
|
|
(43
|
)%
|
|
$
|
(51,415
|
)
|
|
(22
|
)%
|
|
$
|
(69,957
|
)
|
|
(41
|
)%
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
||||||||||||||||||
|
2017
|
|
2016
|
|
% Change
|
|
2017
|
|
2016
|
|
% Change
|
||||||||||
|
(in thousands)
|
|
|
|
(in thousands)
|
|
|
||||||||||||||
Revenue
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Subscription
|
$
|
118,928
|
|
|
$
|
87,318
|
|
|
36
|
%
|
|
$
|
229,853
|
|
|
$
|
164,715
|
|
|
40
|
%
|
Hardware and services
|
3,401
|
|
|
2,586
|
|
|
32
|
|
|
5,726
|
|
|
4,192
|
|
|
37
|
|
||||
Total revenue
|
$
|
122,329
|
|
|
$
|
89,904
|
|
|
36
|
%
|
|
$
|
235,579
|
|
|
$
|
168,907
|
|
|
39
|
%
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
||||||||||||||||||
|
2017
|
|
2016
|
|
% Change
|
|
2017
|
|
2016
|
|
% Change
|
||||||||||
|
(in thousands)
|
|
|
|
(in thousands)
|
|
|
||||||||||||||
Cost of revenue
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Subscription
|
$
|
30,363
|
|
|
$
|
23,198
|
|
|
31
|
%
|
|
$
|
58,684
|
|
|
$
|
44,880
|
|
|
31
|
%
|
Hardware and services
|
4,130
|
|
|
3,460
|
|
|
19
|
|
|
8,185
|
|
|
6,602
|
|
|
24
|
|
||||
Total cost of revenue
|
$
|
34,493
|
|
|
$
|
26,658
|
|
|
29
|
%
|
|
$
|
66,869
|
|
|
$
|
51,482
|
|
|
30
|
%
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
||||||||||||||||||
|
2017
|
|
2016
|
|
% Change
|
|
2017
|
|
2016
|
|
% Change
|
||||||||||
|
(in thousands)
|
|
|
|
(in thousands)
|
|
|
||||||||||||||
Research and development
|
$
|
32,306
|
|
|
$
|
23,588
|
|
|
37
|
%
|
|
$
|
61,912
|
|
|
$
|
46,241
|
|
|
34
|
%
|
Percent of total revenue
|
27
|
%
|
|
26
|
%
|
|
|
|
26
|
%
|
|
28
|
%
|
|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
||||||||||||||||||
|
2017
|
|
2016
|
|
% Change
|
|
2017
|
|
2016
|
|
% Change
|
||||||||||
|
(in thousands)
|
|
|
|
(in thousands)
|
|
|
||||||||||||||
General and administrative
|
$
|
12,348
|
|
|
$
|
22,999
|
|
|
(46
|
)%
|
|
$
|
22,835
|
|
|
$
|
33,603
|
|
|
(32
|
)%
|
Percent of total revenue
|
10
|
%
|
|
26
|
%
|
|
|
|
10
|
%
|
|
20
|
%
|
|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
||||||||||||||||||
|
2017
|
|
2016
|
|
% Change
|
|
2017
|
|
2016
|
|
% Change
|
||||||||||
|
(in thousands)
|
|
|
|
(in thousands)
|
|
|
||||||||||||||
Interest expense
|
$
|
(5,848
|
)
|
|
$
|
(5,809
|
)
|
|
1
|
%
|
|
$
|
(11,814
|
)
|
|
$
|
(11,609
|
)
|
|
2
|
%
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
||||||||||||||||||
|
2017
|
|
2016
|
|
% Change
|
|
2017
|
|
2016
|
|
% Change
|
||||||||||
|
(in thousands)
|
|
|
|
(in thousands)
|
|
|
||||||||||||||
Other income (expense), net
|
$
|
184
|
|
|
$
|
(302
|
)
|
|
161
|
%
|
|
$
|
55
|
|
|
$
|
(300
|
)
|
|
118
|
%
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
||||||||||||||||||
|
2017
|
|
2016
|
|
% Change
|
|
2017
|
|
2016
|
|
% Change
|
||||||||||
|
(in thousands)
|
|
|
|
(in thousands)
|
|
|
||||||||||||||
Provision for income taxes
|
$
|
(999
|
)
|
|
$
|
(185
|
)
|
|
440
|
%
|
|
$
|
(2,433
|
)
|
|
$
|
(442
|
)
|
|
450
|
%
|
|
Six Months Ended
June 30, |
||||||
|
2017
|
|
2016
|
||||
|
(in thousands)
|
||||||
Net cash provided by operating activities
|
$
|
66,955
|
|
|
$
|
25,711
|
|
Net cash used in investing activities
|
$
|
(3,526
|
)
|
|
$
|
(1,036
|
)
|
Net cash used in financing activities
|
$
|
(16,540
|
)
|
|
$
|
(3,650
|
)
|
•
|
a decrease in net loss of
$18.5 million
;
|
•
|
an increase in amortization of intangible assets of $1.5 million due to the acquisitions made in 2016 offset by fully amortized intangible assets, and an increase in depreciation of fixed assets of $3.0 million due to the increase in capital expenditure;
|
•
|
stock-based compensation expense increased
$9.7 million
due to the increase in headcount and grants made;
|
•
|
an increase in accrued liabilities change of
$4.8 million
due to the timing of compensation and other payments;
|
•
|
an increase in deferred revenue change of
$17.5 million
in the six months ended June 30, 2017 due to higher billings, and;
|
•
|
the increase was offset by
$1.7 million
change in fair value of acquisition-related contingent consideration liability; a
$3.8 million
change in non-current assets primarily due to a prepaid tax balance increase due to the transfer of intellectual property rights in an intercompany transaction; a decrease in accounts payable change of
$7.3 million
due to the timing of payments; and a decrease in prepaid expense change of
$1.2 million
due to the timing of payments.
|
•
|
expenditure of significant financial and development resources in efforts to analyze, correct, eliminate or work around errors or defects or to address and eliminate vulnerabilities;
|
•
|
loss of existing or potential partners or customers;
|
•
|
loss or disclosure of our customers’ confidential information, or the inability to access such information;
|
•
|
loss of our proprietary technology;
|
•
|
our solutions being susceptible to hacking or electronic break-ins or otherwise failing to secure data;
|
•
|
delayed or lost revenue;
|
•
|
delay or failure to attain market acceptance;
|
•
|
lost market share;
|
•
|
negative publicity, which could harm our reputation; or
|
•
|
litigation, regulatory inquiries or investigations that would be costly and harm our reputation.
|
•
|
fluctuations in currency exchange rates, which may cause our revenues and operating results to differ materially from expectations;
|
•
|
our lack of familiarity with commercial and social norms and customs in other countries which may adversely affect our ability to recruit, retain and manage employees in these countries;
|
•
|
difficulties and costs associated with staffing and managing foreign operations;
|
•
|
the potential diversion of management’s attention to oversee and direct operations that are geographically distant from our U.S. headquarters;
|
•
|
compliance with multiple, conflicting and changing governmental laws and regulations, including employment, tax, privacy and data protection laws and regulations;
|
•
|
legal systems in which our ability to enforce and protect our rights may be different or less effective than in the United States, including more limited protection for intellectual property rights in some countries;
|
•
|
immaturity of compliance regulations in other jurisdictions, which may lower demand for our solutions;
|
•
|
greater difficulty with payment collections and longer payment cycles;
|
•
|
higher employee costs and difficulty terminating non-performing employees;
|
•
|
differences in workplace cultures;
|
•
|
the need to adapt our solutions for specific countries;
|
•
|
our ability to comply with differing technical and certification requirements outside the United States;
|
•
|
tariffs, export controls and other non-tariff barriers such as quotas and local content rules;
|
•
|
uncertainties related to the United Kingdom's withdrawal from the European Union;
|
•
|
adverse tax consequences;
|
•
|
restrictions on the transfer of funds;
|
•
|
anti-bribery compliance by us or our partners, including under the Foreign Corrupt Practices Act and similar laws of other jurisdictions; and
|
•
|
new and different sources of competition.
|
•
|
variations in our revenue, billings, gross margin, operating results, free cash flow, loss per share and how these results compare to analyst expectations;
|
•
|
forward looking guidance that we may provide regarding financial metrics such as billings, revenue, gross margin, operating results, free cash flow, and loss per share;
|
•
|
announcements of technological innovations, new products or services, strategic alliances, acquisitions or significant agreements by us or by our competitors;
|
•
|
disruptions in our cloud-based operations or services or disruptions of other prominent cloud-based operations or services;
|
•
|
the economy as a whole, market conditions in our industry, and the industries of our customers;
|
•
|
trading activity by directors, executive officers and significant stockholders, or the perception in the market that the holders of a large number of shares intend to sell their shares;
|
•
|
the size of our market float and significant option exercises;
|
•
|
any future issuances of securities;
|
•
|
sales and purchases of any common stock issued upon conversion of our convertible notes; and
|
•
|
any other factors discussed herein.
|
•
|
make it difficult for us to pay other obligations;
|
•
|
make it difficult to obtain favorable terms for any necessary future financing for working capital, capital expenditures, debt service requirements or other purposes;
|
•
|
require us to dedicate a substantial portion of our cash flow from operations to service the indebtedness, reducing the amount of cash flow available for other purposes; and
|
•
|
limit our flexibility in planning for and reacting to changes in our business.
|
•
|
creating a classified board of directors whose members serve staggered three-year terms;
|
•
|
authorizing “blank check” preferred stock, which could be issued by our board without stockholder approval which may contain voting, liquidation, dividend and other rights which are superior to our common stock;
|
•
|
limiting the liability of, and providing indemnification to, our directors and officers;
|
•
|
limiting the ability of our stockholders to call and bring business before special meetings by providing that any stockholder action must be effected at a duly called meeting of the stockholders and not by a consent in writing, and providing that only our board of directors, the chairman of our board of directors, our Chief Executive Officer or President may call a special meeting of the stockholders; and
|
•
|
requiring advance notice of stockholder proposals for business to be conducted at meetings of our stockholders and for nominations of candidates for election to our board of directors.
|
•
|
develop or enhance our application and services;
|
•
|
continue to expand our product development, sales and marketing organizations;
|
•
|
acquire complementary technologies, products or businesses;
|
•
|
expand operations, in the United States or internationally;
|
•
|
hire, train and retain employees; or
|
•
|
respond to competitive pressures or unanticipated working capital requirements.
|
Exhibit
|
|
|
|
Incorporated by Reference
|
|
Filed
|
||||||
No.
|
|
Exhibit
|
|
Form
|
|
File No.
|
|
Filing Date
|
|
Exhibit No.
|
|
Herewith
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31.01
|
|
Certification of Periodic Report by Chief Executive Officer under Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
|
|
|
|
X
|
31.02
|
|
Certification of Periodic Report by Chief Financial Officer under Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
|
|
|
|
X
|
32.01*
|
|
Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
|
|
|
|
X
|
32.02*
|
|
Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
|
|
|
|
X
|
101.INS
|
|
XBRL Instance Document.
|
|
|
|
|
|
|
|
|
|
X
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document.
|
|
|
|
|
|
|
|
|
|
X
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document.
|
|
|
|
|
|
|
|
|
|
X
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document.
|
|
|
|
|
|
|
|
|
|
X
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document.
|
|
|
|
|
|
|
|
|
|
X
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document.
|
|
|
|
|
|
|
|
|
|
X
|
*
|
These exhibits are furnished with this Quarterly Report on Form 10-Q and are not deemed filed with the Securities and Exchange Commission and are not incorporated by reference in any filing of Proofpoint, Inc. under the Securities Act of 1933 or the Exchange Act of 1934, whether made before or after the date hereof and irrespective of any general incorporation language in such filings.
|
|
PROOFPOINT, INC.
|
|
|
|
|
|
By:
|
/s/ GARY STEELE
|
|
|
Gary Steele
Chief Executive Officer
(Principal Executive Officer)
|
|
|
|
|
By:
|
/s/ PAUL AUVIL
|
|
|
Paul Auvil
Chief Financial Officer
(Principal Financial and Accounting Officer)
|
1 Year Proofpoint Chart |
1 Month Proofpoint Chart |
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