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Revenue Recognition (Tables)
 3 Months Ended
Jun. 30, 2018
Revenue Recognition Tables  
Schedule of impacts of adopting ASC 606

The Company recognized the cumulative effect of initially applying ASC 606 as an adjustment to retained earnings in the condensed consolidated balance sheet as of April 1, 2018 (in thousands).

          Adjustments      
    Balance at   Due to   Balance at
    March 31, 2018   ASC 606   April 1, 2018
Current assets:                  
     Deferred sales commission costs   $ -    $ 11,234  $   11,234 
     Other current assets   $ 10,040    $ 1,725  $   11,765 
Non-current assets:                  
     Deferred sales commission costs   $ -    $ 26,942  $   26,942 
Stockholders' Equity                  
     Accumulated deficit   $ (201,464)   $ 39,901  $   (161,563)

 

The following tables summarize the impacts of ASC 606 adoption on the Company's condensed consolidated financial statements for the quarter ended June 30, 2018.

Selected Condensed Consolidated Balance Sheet Line Items (in thousands):

    June 30, 2018  
                (As Reported)  
    ASC 605   Adjustments   ASC 606  
Current assets:                    
     Deferred sales commission costs   $ -    $ 12,706    $ 12,706   
     Other current assets   $ 9,434    $ 1,697    $ 11,131   
Non-current assets:                    
     Deferred sales commission costs   $ -    $ 27,041    $ 27,041   
Stockholders' Equity                    
     Accumulated deficit   $ (218,362)   $ 41,444    $ (176,918)  

 

Selected Condensed Consolidated Statement of Operations Line Items (in thousands, except per share amounts):

    June 30, 2018  
                (As Reported)  
    ASC 605   Adjustments   ASC 606  
Service revenue   $ 78,242    $ (121)   $ 78,121   
Product revenue     5,011      93      5,104   
     Total revenue    $ 83,253    $ (28)   $ 83,225   
Operating expenses:                    
Sales and marketing   $ 55,104    $ (1,799)   $ 53,305   
Loss from operations    $ (17,754)   $ 1,771    $ (15,983)  
Net loss   $ (17,126)   $ 1,771    $ (15,355)  
                     
Net loss per share:                    
     Basic and Diluted   $ (0.18)   $ 0.02    $ (0.16)  

 

Selected Condensed Consolidated Statement of Cash Flows Line Items (in thousands):

    June 30, 2018
                (As Reported)
    ASC 605   Adjustments   ASC 606
Net loss   $ (17,126)   $ 1,771  $   (15,355)
Deferred sales commission costs   $ -    $ (1,799) $   (1,799)
Other current and noncurrent assets   $ (447)   $ 28  $   (419)
Net cash provided by operating activities   $ 789    $ -  $   789 

 

 
Schedule of contract assets and liabilities

The following table provides information about receivables, contract assets and deferred revenues from contracts with customers (in thousands):

      June 30, 2018
Accounts receivable, net   $ 17,725 
Other current assets   $ 1,697 
Deferred revenue - current   $ 2,838 
Deferred revenue - noncurrent   $ 16 

 

Changes in the contract assets and the deferred revenues balances during the three months ended June 30, 2018 are as follows (in thousands):

    April 1, 2018   June 30, 2018   $ Change
Other current assets   $ 1,725    $ 1,697    $ (28)
Deferred revenue   $ 2,578    $ 2,854    $ 276