Debt Obligations (Tables)

12 Months Ended

Jan. 31, 2018

Summary of Debt Obligations, Net of Debt Discount and Deferred Financing Costs

Debt obligations, net of debt discount and deferred financing costs, consist of the following (in thousands):

	As of January 31,
	2017		2018
Revolving line of credit	$	13,962	$	18,962
Term loan		34,952		49,676
Total debt		48,914		68,638
Less current portion of debt		—		(68,638	)
Total long-term portion of debt	$	48,914	$	—

Scheduled Principal Payments on Outstanding Borrowings

As of January 31, 2018, scheduled principal payments on the outstanding borrowings are as follows (in thousands):

As of January 31, 2018:
2019^(2)(3)(4)	$	18,962
2020^(2)(3)(4)		50,000
Total⁽¹⁾		68,962
Less debt discount		(324	)
Less current portion⁽²⁾⁽³⁾		(68,638	)
Non-current portion^(1)(2)(3)	$	—

⁽¹⁾	In February and March 2018, the Company issued an aggregate of $25.0 million of Notes under the Note Purchase Agreement (Note 15).

⁽²⁾	In April 2018, the Company entered into an amendment with TriplePoint to extend the maturity date of its credit facility to August 2019 (Note 15).

⁽³⁾

In April 2018, the Company entered into an amended and restated loan agreement with SVB to, among other things, extend the maturity date of its credit facility. Under the amended agreement, the Company may borrow, through May 2, 2019, up to $ 12.5 million dependent upon its monthly accounts receivables balances, subject to the terms and conditions of the agreement. The $5.0 million non-formula facility previously included in its SVB revolving line of credit terminated in May 2018.

⁽⁴⁾

Based on the Company’s assessment, it is probable that it will be unable to comply with its financial covenants through January 31, 2019, and it may fail to comply with certain financial covenants as early as May 31, 2018, and as such it has classified all outstanding debt balances as of January 31, 2018 as a current liability.