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Amortized Cost | Unrealized Gains | Unrealized Losses | Fair Value | ||||||||||||
September 30, 2015 | |||||||||||||||
U.S. agency obligations | $ | 100,570 | $ | 18 | $ | (1 | ) | $ | 100,587 | ||||||
U.S. treasury securities | 24,125 | 13 | — | 24,138 | |||||||||||
Money market mutual funds | 13,912 | — | — | 13,912 | |||||||||||
138,607 | 31 | (1 | ) | 138,637 | |||||||||||
Included in cash and cash equivalents | 17,112 | — | — | 17,112 | |||||||||||
Included in marketable securities | $ | 121,495 | $ | 31 | $ | (1 | ) | $ | 121,525 |
Amortized Cost | Unrealized Gains | Unrealized Losses | Fair Value | ||||||||||||
December 31, 2014 | |||||||||||||||
U.S. agency obligations | $ | 177,297 | $ | 4 | $ | (44 | ) | $ | 177,257 | ||||||
U.S. treasury securities | 5,580 | 1 | — | 5,581 | |||||||||||
Money market mutual funds | 1,919 | — | — | 1,919 | |||||||||||
184,796 | 5 | (44 | ) | 184,757 | |||||||||||
Included in cash and cash equivalents | 3,480 | — | — | 3,480 | |||||||||||
Included in marketable securities | $ | 175,093 | $ | 5 | $ | (41 | ) | $ | 175,057 | ||||||
Included in marketable securities, noncurrent | $ | 6,223 | $ | — | $ | (3 | ) | $ | 6,220 |
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Level 1 | Level 2 | Total | |||||||||
September 30, 2015 | |||||||||||
Cash equivalents: | |||||||||||
Money market mutual funds | $ | 13,912 | $ | — | $ | 13,912 | |||||
U.S. agency obligations | — | 3,200 | 3,200 | ||||||||
Marketable securities: | |||||||||||
U.S. agency obligations | — | 97,387 | 97,387 | ||||||||
U.S. treasury securities | — | 24,138 | 24,138 | ||||||||
$ | 13,912 | $ | 124,725 | $ | 138,637 |
Level 1 | Level 2 | Total | |||||||||
December 31, 2014 | |||||||||||
Cash equivalents: | |||||||||||
Money market mutual funds | $ | 1,919 | $ | — | $ | 1,919 | |||||
U.S. agency obligations | — | 1,561 | 1,561 | ||||||||
Marketable securities: | |||||||||||
U.S. agency obligations | — | 175,696 | 175,696 | ||||||||
U.S. treasury securities | — | 5,581 | 5,581 | ||||||||
$ | 1,919 | $ | 182,838 | $ | 184,757 |
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As of | |||||||
September 30, 2015 | December 31, 2014 | ||||||
Leasehold improvements | $ | 1,891 | $ | 1,058 | |||
Computer equipment | 4,040 | 3,247 | |||||
Software | 885 | 874 | |||||
Capitalization of internal-use software | 2,152 | 291 | |||||
Furniture and equipment | 813 | 301 | |||||
Total | 9,781 | 5,771 | |||||
Accumulated depreciation | (3,512 | ) | (2,141 | ) | |||
Property and equipment, net | $ | 6,269 | $ | 3,630 |
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As of | |||||||
September 30, 2015 | December 31, 2014 | ||||||
Subscription | $ | 17,460 | $ | 14,826 | |||
Professional services—implementation | 3,936 | 2,974 | |||||
Professional services—communications | 3,196 | 2,908 | |||||
Total current | 24,592 | 20,708 | |||||
Subscription | 2,379 | 1,950 | |||||
Professional services—implementation | 5,190 | 4,327 | |||||
Professional services—communications | 969 | 375 | |||||
Total noncurrent | 8,538 | 6,652 | |||||
Total | $ | 33,130 | $ | 27,360 |
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Options Outstanding | Weighted- Average Exercise Price | Aggregate Intrinsic Value | ||||||||
Balance at December 31, 2014 | 16,392,539 | $ | 4.40 | $ | 128,541 | |||||
Stock option grants | 491,900 | $ | 8.95 | |||||||
Stock options exercised | (3,407,089 | ) | $ | 1.03 | ||||||
Stock options canceled | (2,151,182 | ) | $ | 7.07 | ||||||
Balance at September 30, 2015 | 11,326,168 | $ | 5.11 | $ | 20,675 |
Nine Months Ended September 30, | |||
2015 | 2014 | ||
Volatility | 53% | 60% | |
Expected life (in years) | 6.17 | 5.0-6.2 | |
Risk-free interest rate | 1.38%-1.91% | 1.53%-1.99% | |
Dividend yield | —% | —% |
Number of Shares Outstanding | Weighted- Average Grant Date Fair Value | |||||
Balance at December 31, 2014 | 1,398,893 | $ | 11.06 | |||
Restricted Stock Units granted | 5,604,600 | $ | 7.77 | |||
Restricted Stock Units vested | (24,625 | ) | $ | 8.33 | ||
Restricted Stock Units forfeited | (559,518 | ) | $ | 9.78 | ||
Balance at September 30, 2015 | 6,419,350 | $ | 8.30 |
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Amortized Cost | Unrealized Gains | Unrealized Losses | Fair Value | ||||||||||||
September 30, 2015 | |||||||||||||||
U.S. agency obligations | $ | 100,570 | $ | 18 | $ | (1 | ) | $ | 100,587 | ||||||
U.S. treasury securities | 24,125 | 13 | — | 24,138 | |||||||||||
Money market mutual funds | 13,912 | — | — | 13,912 | |||||||||||
138,607 | 31 | (1 | ) | 138,637 | |||||||||||
Included in cash and cash equivalents | 17,112 | — | — | 17,112 | |||||||||||
Included in marketable securities | $ | 121,495 | $ | 31 | $ | (1 | ) | $ | 121,525 |
Amortized Cost | Unrealized Gains | Unrealized Losses | Fair Value | ||||||||||||
December 31, 2014 | |||||||||||||||
U.S. agency obligations | $ | 177,297 | $ | 4 | $ | (44 | ) | $ | 177,257 | ||||||
U.S. treasury securities | 5,580 | 1 | — | 5,581 | |||||||||||
Money market mutual funds | 1,919 | — | — | 1,919 | |||||||||||
184,796 | 5 | (44 | ) | 184,757 | |||||||||||
Included in cash and cash equivalents | 3,480 | — | — | 3,480 | |||||||||||
Included in marketable securities | $ | 175,093 | $ | 5 | $ | (41 | ) | $ | 175,057 | ||||||
Included in marketable securities, noncurrent | $ | 6,223 | $ | — | $ | (3 | ) | $ | 6,220 |
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Level 1 | Level 2 | Total | |||||||||
September 30, 2015 | |||||||||||
Cash equivalents: | |||||||||||
Money market mutual funds | $ | 13,912 | $ | — | $ | 13,912 | |||||
U.S. agency obligations | — | 3,200 | 3,200 | ||||||||
Marketable securities: | |||||||||||
U.S. agency obligations | — | 97,387 | 97,387 | ||||||||
U.S. treasury securities | — | 24,138 | 24,138 | ||||||||
$ | 13,912 | $ | 124,725 | $ | 138,637 |
Level 1 | Level 2 | Total | |||||||||
December 31, 2014 | |||||||||||
Cash equivalents: | |||||||||||
Money market mutual funds | $ | 1,919 | $ | — | $ | 1,919 | |||||
U.S. agency obligations | — | 1,561 | 1,561 | ||||||||
Marketable securities: | |||||||||||
U.S. agency obligations | — | 175,696 | 175,696 | ||||||||
U.S. treasury securities | — | 5,581 | 5,581 | ||||||||
$ | 1,919 | $ | 182,838 | $ | 184,757 |
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As of | |||||||
September 30, 2015 | December 31, 2014 | ||||||
Leasehold improvements | $ | 1,891 | $ | 1,058 | |||
Computer equipment | 4,040 | 3,247 | |||||
Software | 885 | 874 | |||||
Capitalization of internal-use software | 2,152 | 291 | |||||
Furniture and equipment | 813 | 301 | |||||
Total | 9,781 | 5,771 | |||||
Accumulated depreciation | (3,512 | ) | (2,141 | ) | |||
Property and equipment, net | $ | 6,269 | $ | 3,630 |
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As of | |||||||
September 30, 2015 | December 31, 2014 | ||||||
Subscription | $ | 17,460 | $ | 14,826 | |||
Professional services—implementation | 3,936 | 2,974 | |||||
Professional services—communications | 3,196 | 2,908 | |||||
Total current | 24,592 | 20,708 | |||||
Subscription | 2,379 | 1,950 | |||||
Professional services—implementation | 5,190 | 4,327 | |||||
Professional services—communications | 969 | 375 | |||||
Total noncurrent | 8,538 | 6,652 | |||||
Total | $ | 33,130 | $ | 27,360 |
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Number of Shares Outstanding | Weighted- Average Grant Date Fair Value | |||||
Balance at December 31, 2014 | 1,398,893 | $ | 11.06 | |||
Restricted Stock Units granted | 5,604,600 | $ | 7.77 | |||
Restricted Stock Units vested | (24,625 | ) | $ | 8.33 | ||
Restricted Stock Units forfeited | (559,518 | ) | $ | 9.78 | ||
Balance at September 30, 2015 | 6,419,350 | $ | 8.30 |
Options Outstanding | Weighted- Average Exercise Price | Aggregate Intrinsic Value | ||||||||
Balance at December 31, 2014 | 16,392,539 | $ | 4.40 | $ | 128,541 | |||||
Stock option grants | 491,900 | $ | 8.95 | |||||||
Stock options exercised | (3,407,089 | ) | $ | 1.03 | ||||||
Stock options canceled | (2,151,182 | ) | $ | 7.07 | ||||||
Balance at September 30, 2015 | 11,326,168 | $ | 5.11 | $ | 20,675 |
Nine Months Ended September 30, | |||
2015 | 2014 | ||
Volatility | 53% | 60% | |
Expected life (in years) | 6.17 | 5.0-6.2 | |
Risk-free interest rate | 1.38%-1.91% | 1.53%-1.99% | |
Dividend yield | —% | —% |
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