Revenue, Deferred Revenue and Deferred Costs and Other (Tables)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following tables summarize the impact of ASC 606 adoption on our financial condition and results of operations for the year ended December 31, 2019:

	As of December 31, 2019
	ASC 605			Impact of Adoption			ASC 606
	(in thousands)
Assets:
Deferred costs and other, current	$	14,745		$	1,306		$	16,051
Total current assets	$	486,201		$	1,306		$	487,507
Deferred costs and other, noncurrent	$	3,833		$	1,867		$	5,700
Total assets	$	557,388		$	3,173		$	560,561
Liabilities, redeemable convertible preferred stock and stockholders' deficit:
Accrued expenses and other current liabilities	$	28,812		$	(1,011	)	$	27,801
Deferred revenue, current	$	4,087		$	(142	)	$	3,945
Total current liabilities	$	43,028		$	(1,153	)	$	41,875
Total liabilities	$	54,350		$	(1,153	)	$	53,197
Accumulated deficit	$	(168,524	)	$	4,326		$	(164,198	)
Total stockholders' equity	$	503,038		$	4,326		$	507,364
Total liabilities, redeemable convertible preferred stock and stockholders' equity	$	557,388		$	3,173		$	560,561

	Year Ended December 31, 2019
	ASC 605			Impact of Adoption			ASC 606
	(in thousands, except per share data)
Revenue	$	169,853		$	345		$	170,198
Gross profit	$	123,695		$	345		$	124,040
Sales and marketing	$	77,357		$	703		$	78,060
Total operating expenses	$	183,718		$	703		$	184,421
Loss from operations	$	(60,023	)	$	(358	)	$	(60,381	)
Loss before provision for income tax	$	(56,281	)	$	(358	)	$	(56,639	)
Net Loss	$	(54,912	)	$	(358	)	$	(55,270	)
Net loss attributable to common stockholders	$	(55,008	)	$	(358	)	$	(55,366	)
Net loss per share attributable to common stockholders, basic and diluted	$	(1.08	)	$	(0.01	)	$	(1.09	)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	50,930						50,930

Contract with Customer, Asset and Liability

Deferred revenue activity is as follows (in thousands):

	Year ended December 31, 2019
Beginning balance as of January 1, 2019	$	2,051
Amounts billed but unrecognized	7,208
Revenue recognized	(6,067		)
Assumed from business combination	1,407
Ending balance as of December 31, 2019	$	4,599
Reported as:
Deferred revenue, current	$	3,945
Deferred revenue, noncurrent	654
Total deferred revenue	$	4,599

Deferred costs and other as of December 31, 2019 consist of the following (in thousands):

	As of December 31, 2019
Deferred costs and other, current:
Deferred device costs, current	$	14,746
Deferred contract costs, current	1,121
Deferred execution credits, current	184
Total deferred costs and other, current	$	16,051
Deferred costs and other, noncurrent:
Deferred device costs, noncurrent	$	3,833
Deferred contract costs, noncurrent	1,867
Total deferred costs and other, noncurrent	$	5,700
Total deferred costs and other	$	21,751

Deferred costs and other activity is as follows (in thousands):

	Year Ended December 31, 2019
	Deferred Device Costs			Deferred Contract Costs			Deferred Execution Credits			Total
Beginning balance as of January 1, 2019	$	8,469		$	—		$	—		$	8,469
ASC 606 adoption date impact adjustment	—			3,692			771			4,463
Additions	24,773			354			328			25,455
Revenue recognized	—			—			(915		)	(915		)
Cost of revenue recognized	(14,663		)	—			—			(14,663		)
Sales and marketing expenses recognized	—			(1,058		)	—			(1,058		)
Ending balance as of December 31, 2019	$	18,579		$	2,988		$	184		$	21,751

Accrued rebates are recorded within accrued expenses and other current liabilities and the activity is as follows (in thousands):

	Year ended December 31, 2019
Beginning balance as of January 1, 2019	$	609
ASC 606 adoption date impact adjustment	(222		)
Amount deferred	945
Revenue recognized	—
Payments	(180		)
Ending balance as of December 31, 2019	$	1,152