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Revenue Recognition (Tables)

6 Months Ended

Sep. 30, 2018

Revenue Recognition

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 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 impact of the ASC 606 adoption on the Company's consolidated financial statements for the quarter ended September 30, 2018.

Selected Consolidated Balance Sheet Line Items (in thousands):

		September 30, 2018
								(As Reported)
		ASC 605			Adjustments			ASC 606
Current assets:
Deferred sales commission costs		$	-		$	13,656		$	13,656
Other current assets		$	12,107		$	1,782		$	13,889
Non-current assets:
Deferred sales commission costs		$	-		$	29,229		$	29,229
Stockholders' Equity
Accumulated deficit		$	(243,067)		$	44,667		$	(198,400)

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

			Three Months Ended September 30, 2018									Six Months Ended September 30, 2018
									(As Reported)									(As Reported)
			ASC 605			Adjustments			ASC 606			ASC 605			Adjustments			ASC 606
Service revenue		$	81,543		$	(197)		$	81,346		$	159,785		$	(318)		$	159,467
Product revenue			4,176			160			4,336			9,187			253			9,440
Total revenue		$	85,719		$	(37)		$	85,682		$	168,972		$	(65)		$	168,907
Operating expenses:
Sales and marketing		$	58,806		$	(2,876)		$	55,930		$	113,910		$	(4,675)		$	109,235
Loss from operations		$	(24,826)		$	2,839		$	(21,987)		$	(42,580)		$	4,610		$	(37,970)
Net loss		$	(24,321)		$	2,839		$	(21,482)		$	(41,447)		$	4,610		$	(36,837)
Net loss per share:
Basic and diluted		$	(0.26)		$	0.03		$	(0.23)		$	(0.44)		$	0.05		$	(0.39)

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

		September 30, 2018
								(As Reported)
		ASC 605			Adjustments			ASC 606
Net loss		$	(41,447)		$	4,610		$	(36,837)
Deferred sales commission costs		$	-		$	(4,675)		$	(4,675)
Other current and noncurrent assets		$	(1,517)		$	65		$	(1,452)
Net cash provided by operating activities		$	(4,550)		$	-		$	(4,550)

Schedule of contract assets and liabilities

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

			September 30, 2018
Accounts receivable, net		$	18,870
Other current assets		$	1,782
Deferred revenue - current		$	3,354
Deferred revenue - noncurrent		$	11

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

		April 1, 2018			September 30, 2018			$ Change
Other current assets		$	1,725		$	1,782		$	57
Deferred revenue		$	2,578		$	3,364		$	786

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