​​​​​​​Alteryx Announces Second Quarter 2018 Financial Results

Revenue increased 54% year-over-year to $46.8 million
Dollar-based net revenue retention of 131%
Appoints President and New Chief Technology Officer

IRVINE, Calif. – August 8, 2018 – Alteryx, Inc. (NYSE: AYX), revolutionizing business through data science and analytics, today announced financial results for its second quarter ended June 30, 2018.

“We had another outstanding quarter highlighted by over 50% revenue growth and continued leading net revenue retention,” said Dean Stoecker, CEO of Alteryx, Inc. “Alteryx achieved a key milestone during the second quarter, having crossed $200 million in annual recurring revenue, as we continue to benefit from market tailwinds as companies of all sizes in diverse industries across the globe seek to turn data into insights for better business results. We believe that Alteryx can become synonymous with analytics by delivering high value data science and analytics outcomes for our customers each and every day.”

Second Quarter 2018 Financial Highlights

  • Revenue: Revenue for the second quarter of 2018 was $46.8 million, an increase of 54% on a year-over-year basis.
     
  • Gross Profit: GAAP gross profit for the second quarter of 2018 was $41.5 million, or a GAAP gross margin of 89%, an increase compared to GAAP gross profit of $25.0 million, or a GAAP gross margin of 83%, in the second quarter of 2017. Non-GAAP gross profit for the second quarter of 2018 was $42.2 million, or a non-GAAP gross margin of 90%, an increase compared to non-GAAP gross profit of $25.4 million, or a non-GAAP gross margin of 84%, in the second quarter of 2017.
  • Loss from Operations: GAAP loss from operations for the second quarter of 2018 was $(8.9) million, compared to a loss from operations of $(8.1) million for the second quarter of 2017. Non-GAAP loss from operations for the second quarter of 2018 was $(4.3) million, an improvement compared to non-GAAP loss from operations of $(5.5) million for the second quarter of 2017.
     
  • Net Loss: GAAP net loss attributable to common stockholders for the second quarter of 2018 was $(5.3) million, compared to a GAAP net loss attributable to common stockholders of $(7.0) million for the second quarter of 2017. GAAP net loss per share attributable to common stockholders for the second quarter of 2018 was $(0.09), based on 60.7 million weighted-average basic and diluted shares outstanding, compared to a GAAP net loss per share attributable to common stockholders of $(0.12), based on 58.3 million weighted-average basic and diluted shares outstanding, for the second quarter of 2017.

Non-GAAP net loss for the second quarter of 2018 was $(5.6) million, compared to a non-GAAP net loss of $(5.3) million for the second quarter of 2017. Non-GAAP net loss per share for the second quarter of 2018 was $(0.09), based on 60.7 million non-GAAP weighted-average basic and diluted shares outstanding, compared to a non-GAAP net loss per share of $(0.09), based on 58.3 million non-GAAP weighted-average basic and diluted shares outstanding, for the second quarter of 2017.

  • Balance Sheet and Cash Flow: As of June 30, 2018, Alteryx had cash, cash equivalents, short-term and long-term investments of $405.2 million, compared with $194.1 million as of December 31, 2017. The increase in cash is primarily related to the issuance of our 0.50% Convertible Senior Notes due 2023. Cash used in operating activities for the second quarter was $(5.7) million compared to cash provided by operating activities of $0.7 million in the same period last year. For the first six months of 2018, cash provided by operating activities was $6.4 million compared to $5.7 million for the same period last year.

A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures and Operating Measures.”

Second Quarter and Recent Business Highlights

  • Ended the second quarter of 2018 with 3,940 customers, a 40% increase from the second quarter of 2017. Added 267 net new customers in the second quarter of 2018 compared to 258 net new customers in the second quarter of 2017.
  • Achieved a dollar-based net revenue retention rate of 131% for the second quarter of 2018.
  • Sold $230.0 million aggregate principal amount of our 0.50% Convertible Senior Notes due 2023, including the initial purchasers’ exercise in full of their option to purchase an additional $30.0 million of the notes.
  • Announced the general availability of the newest version of the Alteryx platform (2018.2) at its annual user conference, Inspire 2018. The release delivers new features across the platform to improve the analytic experience for IT, business analysts and data scientists, altering how they collaborate and scale analytics across the organization, find and connect to data, and ultimately drive business-changing insights.
     

Management Update

Ned Harding, chief technology officer (CTO) and co-founder, has decided to step down from the CTO position. Mr. Harding will serve in an advisory capacity to the board of directors and executive management through 2019. The board of directors has appointed Derek Knudsen as CTO, effective August 13, 2018. Mr. Knudsen will be responsible for software engineering, engineering operations, and information technology. In addition, the board of directors has appointed Scott Jones, the company’s chief revenue officer (CRO), as president and CRO. Mr. Jones joined the company in January 2017 as CRO, and as president he will be responsible for all go-to-market activities, including marketing.

“I want to acknowledge Ned’s tremendous contributions to the formation and development of Alteryx. The entire Alteryx team thanks him for everything he has done over the past two decades,” said Stoecker. “In order to support our continued growth, we are making a few organizational changes. With Ned’s transition to an advisor, we have the opportunity to reimagine the CTO role for a rapidly growing organization and I’m pleased to welcome Derek Knudsen to the Alteryx community as our new CTO. In addition, we have appointed Scott Jones, our CRO, as President and CRO of Alteryx, consolidating all of our go-to-market activities under Scott to best position Alteryx for sustained growth for years to come.”
 

Financial Outlook

As of August 8, 2018, guidance for the third quarter 2018 and full year 2018 is as follows:

  • Third Quarter 2018 Guidance:
    • Revenue is expected to be in the range of $49.0 million to $50.0 million.
    • Non-GAAP loss from operations is expected to be in the range of $(2.5) million to $(3.5) million.
    • Non-GAAP net loss per share is expected to be in the range of $(0.04) to $(0.06) based on approximately 61.5 million non-GAAP weighted-average basic and diluted shares outstanding.
       
  • Full Year 2018 Guidance:
    • Revenue is now expected to be in the range of $191.0 million to $193.0 million.
    • Non-GAAP loss from operations is now expected to be in the range of $(13.0) million to $(15.0) million.
    • Non-GAAP net loss per share is now expected to be in the range of $(0.24) to $(0.27) based on approximately 61.0 million non-GAAP weighted-average basic and diluted shares outstanding.

The financial outlook above for non-GAAP loss from operations and non-GAAP net loss per share exclude estimates for stock-based compensation expense, acquisition related adjustments, amortization of debt discount, and other non-recurring items. A reconciliation of the non-GAAP financial guidance measures to corresponding GAAP measures is not available on a forward-looking basis primarily as a result of the uncertainty regarding, and the potential variability of, stock-based compensation expense, acquisition related adjustments, amortization of debt discount, and other non-recurring items. In particular, stock-based compensation expense is impacted by our future hiring and retention needs, as well as the future fair market value of our Class A common stock, all of which is not within our control, is difficult to predict, and is subject to constant change. The actual amount of these expenses during 2018 will have a significant impact on our future GAAP financial results. Accordingly, a reconciliation of the non-GAAP financial guidance measures to the corresponding GAAP measures is not available without unreasonable effort.

 

Quarterly Conference Call

Alteryx will host a conference call today at 5:00 p.m. Eastern Time to discuss the company’s financial results. To access this call, dial 877-407-9716 (domestic) or 201-493-6779 (international). A live webcast of this conference call will be available on the “Investors” page of the company’s website at www.alteryx.com.

Following the conference call, a telephone replay will be available through August 14, 2018, at 844-512-2921 (domestic) or 412-317-6671 (international). The replay passcode is 13681464. An archived webcast of this conference call will also be available in the “Investors” section of the company’s website.
 

Non-GAAP Financial Measures and Operating Measures

To supplement our consolidated financial statements, which are prepared and presented in accordance with GAAP, we use the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP gross margin, non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss per share, and non-GAAP weighted-average diluted shares outstanding. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP.

We use non-GAAP measures to internally evaluate and analyze financial results. We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and enable comparison of our financial results with other public companies, many of which present similar non-GAAP financial measures. We exclude the following items from one or more of our non-GAAP financial measures:

Stock-based compensation expense. We exclude stock-based compensation expense, which is a non-cash expense, from certain of our non-GAAP financial measures because we believe that excluding this item provides meaningful supplemental information regarding operational performance. In particular, companies calculate stock-based compensation expense using a variety of valuation methodologies and subjective assumptions.

Acquisition related adjustments. We exclude amortization of intangible assets and changes in fair value of contingent consideration, and related income tax adjustments, which are non-cash, related to business combinations from certain of our non-GAAP financial measures. We exclude such expenses as they are related to a business combination and have no direct correlation to the operation of our business.

Accretion of Series A redeemable convertible preferred stock. We exclude accretion relating to our Series A redeemable convertible preferred stock from non-GAAP net loss per share because this is a non-cash item that will not recur in the periods following the three months ended March 31, 2017.

Convertible senior notes adjustments: We exclude the portion of amortization of debt discount and income tax adjustments that relate to the equity component of our convertible notes, which are non-cash, from certain of our non-GAAP financial measures. We exclude such expenses as they are non-cash and have no direct correlation to the operation of our business.

In addition, we adjust non-GAAP weighted-average diluted shares outstanding to include the conversion of the redeemable convertible preferred stock into shares of common stock as though the conversion had occurred at the beginning of each of the respective periods.

Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. In particular, we exclude stock-based compensation expense, amortization of intangible assets, and amortization of debt discount which are recurring and will be reflected in our financial results for the foreseeable future. The non-GAAP measures we use may be different from non-GAAP financial measures used by other companies, limiting their usefulness for comparison purposes. We compensate for these limitations by providing specific information regarding the GAAP items excluded from these non-GAAP financial measures.

The company also uses annual recurring revenue (ARR) as one of our operating measures to assess the health and trajectory of our business. ARR should be viewed independently of revenue and deferred revenue as ARR is a performance metric and is not intended to be combined with any of these items. ARR represents the total annual contract value for active customer subscription contracts as of the measurement date.
 

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding our outlook for the third quarter 2018 and full year 2018, our market opportunity, our ability to execute our long-term growth strategy, and other future events. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including, but not limited to: our limited operating history under our current business model; our ability to manage our growth effectively; the rate of growth in the market for analytics products and services; our ability to attract new customers and expand sales to existing customers; our ability to develop and release product and service enhancements and new products and services to respond to rapid technological change in a timely and cost-effective manner; intense and increasing competition in our market; our ability to develop, maintain, and enhance our brand and reputation cost-effectively; our ability to expand our sales force and the effectiveness of our sales force; our ability to establish and maintain successful relationships with our channel partners; risks associated with our international operations; litigation, and related costs; security breaches; and other general market, political, economic, and business conditions.

Additional risks and uncertainties that could affect our financial results are included under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2017, which is available on the Investor Relations page of our website at www.alteryx.com and on the SEC website at www.sec.gov. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the three months ended June 30, 2018. All forward-looking statements contained herein are based on information available to us as of the date hereof and we do not assume any obligation to update these statements as a result of new information or future events.
 

About Alteryx, Inc.

Revolutionizing business through data science and analytics, Alteryx offers an end-to-end analytics platform that empowers data analysts and scientists alike to break data barriers, deliver insights, and experience the thrill of getting to the answer faster. Organizations all over the world rely on Alteryx daily to deliver actionable insights. For more information visit www.alteryx.com.

Alteryx is a registered trademark of Alteryx, Inc. All other product and brand names may be trademarks or registered trademarks of their respective owners.

Media Contact

Alteryx, Inc.
Emily Singer
esinger@alteryx.com

Investor Contacts
Alteryx, Inc.
Karen Moran, 844-842-1912
VP Investor Relations
kmoran@alteryx.com

or

ICR
Staci Mortenson
Investor Relations
Staci.Mortenson@icrinc.com


Alteryx, Inc.

Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

2018

 

2017

 

2018

 

2017

Revenue

$

46,796

 

 

$

30,319

 

 

$

89,617

 

 

$

58,864

 

Cost of revenue

5,269

 

 

5,294

 

 

10,273

 

 

10,120

 

Gross profit

41,527

 

 

25,025

 

 

79,344

 

 

48,744

 

Operating expenses:

 

 

 

 

 

 

 

Research and development

10,181

 

 

7,147

 

 

20,949

 

 

13,169

 

Sales and marketing

28,335

 

 

17,589

 

 

51,437

 

 

33,217

 

General and administrative

11,938

 

 

8,427

 

 

21,733

 

 

16,110

 

Total operating expenses

50,454

 

 

33,163

 

 

94,119

 

 

62,496

 

Loss from operations

(8,927

)

 

(8,138

)

 

(14,775

)

 

(13,752

)

Interest expense

(1,398

)

 

 

 

(1,400

)

 

 

Other income (expense), net

(834

)

 

337

 

 

(64

)

 

434

 

Loss before benefit from income taxes

(11,159

)

 

(7,801

)

 

(16,239

)

 

(13,318

)

Benefit from income taxes

(5,864

)

 

(807

)

 

(5,758

)

 

(657

)

Net loss

$

(5,295

)

 

$

(6,994

)

 

$

(10,481

)

 

$

(12,661

)

Less: Accretion of Series A redeemable convertible

preferred stock

 

 

 

 

 

 

(1,983

)

Net loss attributable to common stockholders

$

(5,295

)

 

$

(6,994

)

 

$

(10,481

)

 

$

(14,644

)

Net loss per share attributable to common stockholders,

basic and diluted

$

(0.09

)

 

$

(0.12

)

 

$

(0.17

)

 

$

(0.31

)

Weighted-average shares used to compute net loss per

share attributable to common stockholders, basic and

diluted

60,685

 

 

58,262

 

 

60,372

 

 

46,757

 


Alteryx, Inc.

Stock-Based Compensation Expense

(in thousands)

(unaudited)

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

2018

 

2017

 

2018

 

2017

Cost of revenue

$

206

 

 

$

124

 

 

$

345

 

 

$

245

 

Research and development

721

 

 

463

 

 

1,954

 

 

699

 

Sales and marketing

1,613

 

 

524

 

 

2,770

 

 

1,183

 

General and administrative

1,354

 

 

1,177

 

 

2,614

 

 

2,103

 

Total

$

3,894

 

 

$

2,288

 

 

$

7,683

 

 

$

4,230

 



Alteryx, Inc.

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

 

June 30, 2018

 

December 31, 2017

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

98,571

 

 

$

119,716

 

Short-term investments

232,044

 

 

54,386

 

Accounts receivable, net

44,592

 

 

49,797

 

Deferred commissions

12,859

 

 

11,213

 

Prepaid expenses and other current assets

10,735

 

 

7,227

 

Total current assets

398,801

 

 

242,339

 

Property and equipment, net

10,482

 

 

7,492

 

Long-term investments

74,608

 

 

19,964

 

Goodwill

9,679

 

 

8,750

 

Intangible assets, net

10,267

 

 

7,995

 

Other assets

3,454

 

 

4,876

 

Total assets

$

507,291

 

 

$

291,416

 

Liabilities and Stockholders’ Equity

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

8,392

 

 

$

522

 

Accrued payroll and payroll related liabilities

11,675

 

 

11,835

 

Accrued expenses and other current liabilities

11,610

 

 

8,270

 

Deferred revenue

115,713

 

 

110,213

 

Total current liabilities

147,390

 

 

130,840

 

Convertible senior notes, net

168,255

 

 

 

Deferred revenue

3,023

 

 

3,545

 

Other liabilities

3,512

 

 

3,527

 

Total liabilities

322,180

 

 

137,912

 

Stockholders’ equity:

 

 

 

Preferred stock

 

 

 

Common stock

6

 

 

5

 

Additional paid-in capital

301,329

 

 

257,399

 

Accumulated deficit

(115,606

)

 

(103,546

)

Accumulated other comprehensive loss

(618

)

 

(354

)

Total stockholders’ equity

185,111

 

 

153,504

 

Total liabilities and stockholders’ equity

$

507,291

 

 

$

291,416

 

 

Alteryx, Inc.

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

2018

 

2017

 

2018

 

2017

Cash flows from operating activities:

 

 

 

 

 

 

 

Net loss

$

(5,295

)

 

$

(6,994

)

 

$

(10,481

)

 

$

(12,661

)

Adjustments to reconcile net loss to net cash provided by (used in)

operating activities:

 

 

 

 

 

 

 

Depreciation and amortization

1,227

 

 

873

 

 

2,528

 

 

1,439

 

Amortization of debt discount and issuance costs

1,261

 

 

 

 

1,261

 

 

 

Stock-based compensation

3,894

 

 

2,233

 

 

7,683

 

 

4,175

 

Provision for doubtful accounts and sales reserve, net of recoveries

27

 

 

434

 

 

(81

)

 

784

 

Deferred income taxes

(6,033

)

 

(1,048

)

 

(6,033

)

 

(1,048

)

Change in fair value of contingent consideration

162

 

 

158

 

 

455

 

 

158

 

Loss on disposal of assets

9

 

 

2

 

 

9

 

 

32

 

Changes in operating assets and liabilities, net of effect of business

acquisitions:

 

 

 

 

 

 

 

Accounts receivable

(15,083

)

 

(3,517

)

 

5,470

 

 

7,658

 

Deferred commissions

(1,528

)

 

237

 

 

(1,746

)

 

1,097

 

Prepaid expenses and other current assets and other assets

(1,020

)

 

291

 

 

(3,604

)

 

(929

)

Accounts payable

6,585

 

 

2,486

 

 

7,028

 

 

1,961

 

Accrued payroll and payroll related liabilities

2,483

 

 

2,772

 

 

(153

)

 

(734

)

Accrued expenses and other current liabilities

143

 

 

12

 

 

(1,515

)

 

989

 

Deferred revenue

7,251

 

 

2,681

 

 

5,364

 

 

2,563

 

Other liabilities

189

 

 

49

 

 

188

 

 

208

 

Net cash provided by (used in) operating activities

(5,728

)

 

669

 

 

6,373

 

 

5,692

 

Cash flows from investing activities:

 

 

 

 

 

 

 

Purchases of property and equipment

(2,089

)

 

(701

)

 

(3,505

)

 

(1,209

)

Cash paid in business acquisitions, net of cash acquired

5

 

 

(5,213

)

 

(3,537

)

 

(9,097

)

Purchases of investments

(188,226

)

 

(60,018

)

 

(271,817

)

 

(76,053

)

Maturities of investments

28,374

 

 

4,453

 

 

39,374

 

 

12,977

 

Net cash used in investing activities

(161,936

)

 

(61,479

)

 

(239,485

)

 

(73,382

)

Cash flows from financing activities:

 

 

 

 

 

 

 

Proceeds from issuance of senior convertible notes, net of issuance

costs

224,775

 

 

 

 

224,775

 

 

 

Purchase of capped call

(19,113

)

 

 

 

(19,113

)

 

 

Proceeds from initial public offering, net of underwriting commissions

and discounts

 

 

17,577

 

 

 

 

134,757

 

Payment of initial public offering costs

 

 

 

 

 

 

(797

)

Payment of holdback funds from acquisition

 

 

 

 

(250

)

 

 

Principal payments on capital lease obligations

(83

)

 

(82

)

 

(165

)

 

(164

)

Proceeds from exercise of stock options

1,852

 

 

122

 

 

6,824

 

 

1,006

 

Minimum tax withholding paid on behalf of employees for restricted

stock units

(48

)

 

 

 

(48

)

 

 

Net cash provided by financing activities

207,383

 

 

17,617

 

 

212,023

 

 

134,802

 

Effect of exchange rate changes on cash and cash equivalents

(225

)

 

22

 

 

(56

)

 

(3

)

Net increase (decrease) in cash and cash equivalents

39,494

 

 

(43,171

)

 

(21,145

)

 

67,109

 

Cash and cash equivalents—beginning of period

59,077

 

 

141,586

 

 

119,716

 

 

31,306

 

Cash and cash equivalents—end of period

$

98,571

 

 

$

98,415

 

 

$

98,571

 

 

$

98,415

 

 

Alteryx, Inc.

Reconciliation of GAAP Measures to Non-GAAP Measures

(in thousands, except percentages and per share amounts)

(unaudited)

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

2018

 

2017

 

2018

 

2017

Reconciliation of non-GAAP gross profit:

 

 

 

 

 

 

 

GAAP gross profit

$

41,527

 

 

$

25,025

 

 

$

79,344

 

 

$

48,744

 

GAAP gross margin

89

%

 

83

%

 

89

%

 

83

%

Add back:

 

 

 

 

 

 

 

Stock-based compensation expense

206

 

 

124

 

 

345

 

 

245

 

Amortization of intangible assets

451

 

 

236

 

 

897

 

 

301

 

Non-GAAP gross profit

$

42,184

 

 

$

25,385

 

 

$

80,586

 

 

$

49,290

 

Non-GAAP gross margin

90

%

 

84

%

 

90

%

 

84

%

Reconciliation of non-GAAP loss from operations:

 

 

 

 

 

 

 

GAAP loss from operations

$

(8,927

)

 

$

(8,138

)

 

$

(14,775

)

 

$

(13,752

)

GAAP operating margin

(19

)%

 

(27

)%

 

(16

)%

 

(23

)%

Add back:

 

 

 

 

 

 

 

Stock-based compensation expense

3,894

 

 

2,288

 

 

7,683

 

 

4,230

 

Amortization of intangible assets

579

 

 

238

 

 

1,088

 

 

303

 

Contingent consideration expense

162

 

 

158

 

 

455

 

 

158

 

Non-GAAP loss from operations

$

(4,292

)

 

$

(5,454

)

 

$

(5,549

)

 

$

(9,061

)

Non-GAAP operating margin

(9

)%

 

(18

)%

 

(6

)%

 

(15

)%

Reconciliation of non-GAAP net loss:

 

 

 

 

 

 

 

GAAP net loss attributable to common stockholders

$

(5,295

)

 

$

(6,994

)

 

$

(10,481

)

 

$

(14,644

)

Add back:

 

 

 

 

 

 

 

Stock-based compensation expense

3,894

 

 

2,288

 

 

7,683

 

 

4,230

 

Amortization of intangible assets

579

 

 

238

 

 

1,088

 

 

303

 

Accretion of Series A redeemable convertible

preferred stock

 

 

 

 

 

 

1,983

 

Contingent consideration expense

162

 

 

158

 

 

455

 

 

158

 

Amortization of debt discount

1,146

 

 

 

 

1,146

 

 

 

Income tax adjustments

(6,046

)

 

(998

)

 

(6,046

)

 

(998

)

Non-GAAP net loss

$

(5,560

)

 

$

(5,308

)

 

$

(6,155

)

 

$

(8,968

)

Non-GAAP diluted loss per share:

 

 

 

 

 

 

 

Non-GAAP net loss

$

(5,560

)

 

$

(5,308

)

 

$

(6,155

)

 

$

(8,968

)

Non-GAAP weighted-average shares used to

compute net loss per share attributable to

common stockholders, diluted

60,685

 

 

58,262

 

 

60,372

 

 

53,393

 

Non-GAAP net loss per share, diluted

$

(0.09

)

 

$

(0.09

)

 

$

(0.10

)

 

$

(0.17

)

Reconciliation of non-GAAP diluted net loss per share

 

 

 

 

 

 

 

GAAP net loss per share attributable to common

stockholders, diluted

$

(0.09

)

 

$

(0.12

)

 

$

(0.17

)

 

$

(0.31

)

Add back:

 

 

 

 

 

 

 

Non-GAAP adjustments to net loss per share

 

 

0.03

 

 

0.07

 

 

0.14

 

Non-GAAP net loss per share, diluted

$

(0.09

)

 

$

(0.09

)

 

$

(0.10

)

 

$

(0.17

)

Reconciliation of non-GAAP diluted weighted-average

shares outstanding

 

 

 

 

 

 

 

GAAP weighted-average shares used to compute net

loss per share attributable to common stockholders,

diluted

60,685

 

 

58,262

 

 

60,372

 

 

46,757

 

Add back:

 

 

 

 

 

 

 

Conversion of redeemable convertible preferred

stock into common stock

 

 

 

 

 

 

6,636

 

Non-GAAP weighted-average shares used to compute

non-GAAP net loss per share, diluted

60,685

 

 

58,262

 

 

60,372

 

 

53,393