0001514416-20-000187 | 10-Q | XBRL Viewer

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Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2020	Jul. 24, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-38285
Entity Registrant Name	BANDWIDTH INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	56-2242657
Entity Address, Address Line One	900 Main Campus Drive
Entity Address, City or Town	Raleigh
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27606
City Area Code	(800)
Local Phone Number	808-5150
Title of 12(b) Security	Class A Common Stock, par value $0.001 per share
Trading Symbol	BAND
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001514416
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		20,669,553
Common Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		3,499,554

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 290,979	$ 184,414
Restricted cash	930	590
Other investments	230,780	0
Accounts receivable, net of allowance for doubtful accounts	41,779	30,187
Prepaid expenses and other current assets	10,871	9,260
Deferred costs	1,992	2,498
Total current assets	577,331	226,949
Property and equipment, net	43,770	41,654
Operating right-of-use asset	18,699	21,031
Intangible assets, net	6,309	6,569
Deferred costs, non-current	3,042	1,952
Other long-term assets	1,939	1,533
Goodwill	6,867	6,867
Deferred tax asset, net	0	34,861
Total assets	657,957	341,416
Current liabilities:
Accounts payable	4,474	4,190
Accrued expenses and other current liabilities	29,405	27,328
Current portion of deferred revenue	5,236	5,177
Advanced billings	4,523	4,167
Operating lease liability, current	5,067	4,876
Total current liabilities	48,705	45,738
Operating lease liability, net of current portion	17,065	19,868
Deferred revenue, net of current portion	6,352	5,720
Convertible senior notes	272,901	0
Total liabilities	345,023	71,326
Stockholders’ equity:
Class A and Class B common stock	24	24
Additional paid-in capital	340,215	275,553
Accumulated deficit	(27,227)	(5,528)
Accumulated other comprehensive income (loss)	(78)	41
Total stockholders’ equity	312,934	270,090
Total liabilities and stockholders’ equity	$ 657,957	$ 341,416

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenue	$ 76,790	$ 56,779	$ 145,308	$ 110,100
Cost of revenue	42,009	30,110	78,368	58,876
Gross profit	34,781	26,669	66,940	51,224
Operating expenses:
Research and development	9,554	7,656	19,084	15,373
Sales and marketing	8,655	8,514	18,072	16,863
General and administrative	16,840	14,282	32,936	28,615
Total operating expenses	35,049	30,452	70,092	60,851
Operating loss	(268)	(3,783)	(3,152)	(9,627)
Other income (expense), net	(3,868)	729	(4,774)	930
Loss before income taxes	(4,136)	(3,054)	(7,926)	(8,697)
Income tax benefit (provision)	(16,505)	6,526	(13,773)	14,161
Net income (loss)	$ (20,641)	$ 3,472	$ (21,699)	$ 5,464
Net income (loss) per share
Basic (in usd per share)	$ (0.86)	$ 0.15	$ (0.91)	$ 0.25
Diluted (in usd per share)	$ (0.86)	$ 0.14	$ (0.91)	$ 0.23
Weighted average number of common shares outstanding:
Basic (in shares)	23,973,663	23,102,553	23,768,616	21,807,523
Diluted (in shares)	23,973,663	24,447,417	23,768,616	23,262,496

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (20,641)	$ 3,472	$ (21,699)	$ 5,464
Other comprehensive income (loss)
Unrealized gain on marketable securities, net of income taxes	0	13	0	21
Foreign currency translation, net of income taxes	(23)	12	(119)	12
Other comprehensive income (loss)	(23)	25	(119)	33
Total comprehensive income (loss)	$ (20,664)	$ 3,497	$ (21,818)	$ 5,497

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Condensed Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands	Total	Adjustment	Conversion of Class B voting common stock to Class A voting common stock	Class A voting common stock	Class B voting common stock	Common stock Class A voting common stock	Common stock Class A voting common stock Conversion of Class B voting common stock to Class A voting common stock	Common stock Class B voting common stock	Common stock Class B voting common stock Conversion of Class B voting common stock to Class A voting common stock	Additional paid-in capital	Accumulated other comprehensive income (loss)	Accumulated deficit	Accumulated deficit Adjustment
Beginning balance (in shares) at Dec. 31, 2018						12,912,747		6,510,732
Beginning balance at Dec. 31, 2018	$ 108,770	$ (174)				$ 13		$ 6		$ 116,600	$ (1)	$ (7,848)	$ (174)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)						2,875,000
Issuance of common stock	147,391					$ 3				147,388
Costs in connection with offering	(785)									(785)
Exercises of vested stock options (in shares)						589,510
Exercises of vested stock options	3,935					$ 1				3,934
Vesting of restricted stock units (in shares)						105,367
Equity awards withheld for tax liability (in shares)						(16,585)
Equity awards withheld for tax liability	(938)									(938)
Conversion of stock (in shares)							57,230		(57,230)
Unrealized loss on marketable securities	8										8
Stock based compensation	1,676									1,676
Net income (loss)	1,992											1,992
Ending balance (in shares) at Mar. 31, 2019						16,523,269		6,453,502
Ending balance at Mar. 31, 2019	261,875					$ 17		$ 6		267,875	7	(6,030)
Beginning balance (in shares) at Dec. 31, 2018						12,912,747		6,510,732
Beginning balance at Dec. 31, 2018	108,770	$ (174)				$ 13		$ 6		116,600	(1)	(7,848)	$ (174)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	5,464
Ending balance (in shares) at Jun. 30, 2019						17,732,453		5,627,061
Ending balance at Jun. 30, 2019	269,125					$ 18		$ 5		271,628	32	(2,558)
Beginning balance (in shares) at Mar. 31, 2019						16,523,269		6,453,502
Beginning balance at Mar. 31, 2019	261,875					$ 17		$ 6		267,875	7	(6,030)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Costs in connection with offering	(49)									(49)
Exercises of vested stock options (in shares)						366,405
Exercises of vested stock options	2,446									2,446
Vesting of restricted stock units (in shares)						20,003
Equity awards withheld for tax liability (in shares)						(3,665)
Equity awards withheld for tax liability	(274)									(274)
Conversion of stock (in shares)							826,441		(826,441)
Conversion of stock			$ 0				$ 1		$ (1)
Unrealized loss on marketable securities	13										13
Foreign currency translation	12										12
Stock based compensation	1,630									1,630
Net income (loss)	3,472											3,472
Ending balance (in shares) at Jun. 30, 2019						17,732,453		5,627,061
Ending balance at Jun. 30, 2019	269,125					$ 18		$ 5		271,628	32	(2,558)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercises of vested stock options (in shares)						108,361
Exercises of vested stock options	868									868
Vesting of restricted stock units (in shares)						19,064
Equity awards withheld for tax liability (in shares)						(2,762)
Equity awards withheld for tax liability	(180)									(180)
Conversion of stock (in shares)							449,660		(449,660)
Unrealized loss on marketable securities	(21)										(21)
Foreign currency translation	(46)										(46)
Stock based compensation	1,654									1,654
Net income (loss)	(1,014)											(1,014)
Ending balance (in shares) at Sep. 30, 2019						18,306,776		5,177,401
Ending balance at Sep. 30, 2019	270,386					$ 18		$ 5		273,970	(35)	(3,572)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercises of vested stock options (in shares)						11,206
Exercises of vested stock options	108									108
Vesting of restricted stock units (in shares)						19,510
Equity awards withheld for tax liability (in shares)						(3,014)
Equity awards withheld for tax liability	(191)									(191)
Conversion of stock (in shares)							250,000		(250,000)
Conversion of stock			1				$ 1
Unrealized loss on marketable securities	1										1
Foreign currency translation	75										75
Stock based compensation	1,666									1,666
Net income (loss)	(1,956)											(1,956)
Ending balance (in shares) at Dec. 31, 2019				18,584,478	4,927,401	18,584,478		4,927,401
Ending balance at Dec. 31, 2019	270,090					$ 19		$ 5		275,553	41	(5,528)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of debt conversion option	104,553									104,553
Debt conversion option issuance costs, net of tax	(3,731)									(3,731)
Capped call option issuance costs	(43,320)									(43,320)
Exercises of vested stock options (in shares)						32,059
Exercises of vested stock options	244									244
Vesting of restricted stock units (in shares)						103,824
Equity awards withheld for tax liability (in shares)						(14,411)
Equity awards withheld for tax liability	(1,021)									(1,021)
Conversion of stock (in shares)							500,250		(500,250)
Conversion of stock			$ (1)						$ (1)
Foreign currency translation	(96)										(96)
Stock based compensation	2,499									2,499
Net income (loss)	(1,058)											(1,058)
Ending balance (in shares) at Mar. 31, 2020						19,206,200		4,427,151
Ending balance at Mar. 31, 2020	328,159					$ 19		$ 4		334,777	(55)	(6,586)
Beginning balance (in shares) at Dec. 31, 2019				18,584,478	4,927,401	18,584,478		4,927,401
Beginning balance at Dec. 31, 2019	270,090					$ 19		$ 5		275,553	41	(5,528)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(21,699)
Ending balance (in shares) at Jun. 30, 2020				20,555,717	3,599,554	20,555,717		3,599,554
Ending balance at Jun. 30, 2020	$ 312,934					$ 20		$ 4		340,215	(78)	(27,227)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201815Member
Beginning balance (in shares) at Mar. 31, 2020						19,206,200		4,427,151
Beginning balance at Mar. 31, 2020	$ 328,159					$ 19		$ 4		334,777	(55)	(6,586)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Debt conversion option issuance costs, net of tax	(11)									(11)
Exercises of vested stock options (in shares)						502,182
Exercises of vested stock options	3,297					$ 1				3,296
Vesting of restricted stock units (in shares)						21,871
Equity awards withheld for tax liability (in shares)						(2,133)
Equity awards withheld for tax liability	(272)									(272)
Conversion of stock (in shares)							827,597		(827,597)
Foreign currency translation	(23)										(23)
Stock based compensation	2,425									2,425
Net income (loss)	(20,641)											(20,641)
Ending balance (in shares) at Jun. 30, 2020				20,555,717	3,599,554	20,555,717		3,599,554
Ending balance at Jun. 30, 2020	$ 312,934					$ 20		$ 4		$ 340,215	$ (78)	$ (27,227)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net income (loss)	$ (21,699)	$ 5,464
Adjustments to reconcile net income (loss) to net cash used in operating activities
Depreciation and amortization	6,640	4,321
Right-of-use asset amortization	2,332	1,999
Accretion of bond discount	0	(478)
Amortization of debt discount and issuance costs	6,314	139
Stock-based compensation	4,924	3,306
Deferred taxes	14,254	(14,263)
Loss on disposal of property and equipment	260	351
Changes in operating assets and liabilities:
Accounts receivable, net of allowances	(11,609)	(2,683)
Prepaid expenses and other assets	(2,041)	(3,586)
Deferred costs	(584)	1,290
Accounts payable	41	(95)
Accrued expenses and other liabilities	2,417	1,584
Deferred revenue and advanced billings	1,047	(1,047)
Operating right-of-use liability	(2,612)	(1,714)
Net cash used in operating activities	(316)	(5,412)
Cash flows from investing activities
Purchase of property and equipment	(7,550)	(7,844)
Capitalized software development costs	(1,498)	(1,675)
Purchase of marketable securities	0	(55,933)
Proceeds from sales and maturities of marketable securities	0	18,000
Purchase of other investments	(230,780)	0
Net cash used in investing activities	(239,828)	(47,452)
Cash flows from financing activities
Proceeds from the follow-on public offering, net of underwriting discounts	0	147,391
Payment of costs related to the follow-on public offering	0	(755)
Proceeds from issuance of convertible senior notes	400,000	0
Payment of debt issuance costs	(11,965)	(125)
Purchase of capped call	(43,320)	0
Proceeds from exercises of stock options	3,540	6,381
Value of equity awards withheld for tax liabilities	(1,198)	(945)
Net cash provided by financing activities	347,057	151,947
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(8)	(1)
Net increase in cash, cash equivalents, and restricted cash	106,905	99,082
Cash, cash equivalents, and restricted cash, beginning of period	185,004	41,501
Cash, cash equivalents, and restricted cash, end of period	291,909	140,583
Supplemental disclosure of cash flow information
Cash paid for interest	32	96
Cash paid (refunded) for taxes	(154)	157
Supplemental disclosure of noncash investing and financing activities
Purchase of property and equipment, accrued but not paid	1,082	2,725
Equity awards withheld for tax liabilities, accrued but not paid	$ 272	$ 267

Organization and Description of Business	6 Months Ended
Organization and Description of Business	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	1. Organization and Description of Business Bandwidth Inc. (together with its subsidiaries, “Bandwidth” or the “Company”) was founded in July 2000 and incorporated in Delaware on March 29, 2001. The Company’s headquarters are located in Raleigh, North Carolina. The Company is a cloud-based, software-powered communications platform-as-a-service (“CPaaS”) provider that enables enterprises to create, scale and operate voice or messaging communications services across any mobile application or connected device. The Company has two operating and reportable segments, CPaaS and Other. CPaaS revenue is derived from usage and monthly services fees charged for usage of Voice, Messaging, 911 and Phone Numbers solutions through the Company’s proprietary CPaaS software application programming interfaces. Other revenue consists of fees charged for services provided such as: SIP trunking, data resale, and a hosted Voice-over Internet Protocol (“VoIP”). The Other segment also includes revenue from traffic generated by other carriers, SMS registration fees and other miscellaneous product lines.

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Certain information and disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company's Annual Report on Form 10-K filed with the SEC on February 21, 2020. The condensed consolidated balance sheet as of December 31, 2019, included herein, was derived from the audited financial statements as of that date, but does not include all disclosures, including certain notes required by GAAP on an annual reporting basis. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive income (loss) and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full year 2020 or any future period. Reclassification The Company reclassified certain prior year amounts to conform to the current year presentation. These reclassifications had no impact on the previously reported total assets, liabilities, stockholder’s deficit or net income. Principles of Consolidation The condensed consolidated financial statements include the accounts of Bandwidth Inc. and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires the Company to make estimates and judgments that affect the amounts reported in these financial statements and accompanying notes. These estimates in the condensed consolidated financial statements include, but are not limited to, allowance for doubtful accounts, reserve for expected credit losses, reserve for sales credits, recoverability of long lived and intangible assets, discount rates used in the valuation of right-of-use assets and lease liabilities, the fair value of the liability and equity components of the Company’s Convertible Notes (as defined herein), estimated period of benefit, valuation allowances on deferred tax assets, certain accrued expenses, and contingencies. Although the Company believes that the estimates it uses are reasonable, due to the inherent uncertainty involved in making these estimates, actual results reported in future periods could differ from those estimates. Effective January 1, 2020, due to the continued growth in customers and low churn rates, the Company updated its calculation of the estimated period of benefit for nonrefundable upfront fees from 3 years to 4 years. For the three and six months ended June 30, 2020, the Company reduced total revenue by approximately $437 and $876, respectively, and reduced cost of revenue by approximately $247 and $566, respectively, related to the change in the estimated period of benefit. Cash and Cash Equivalents The Company classifies all highly liquid investments with stated maturities of three months or less from the date of purchase as cash equivalents and all highly liquid investments with stated maturities of greater than three months from the date of purchase as current marketable securities, with the exception of time deposits which are classified as other investments. Cash deposits are primarily in financial institutions in the United States. However, cash for monthly operating costs of international operations are deposited in banks outside the United States. The Company has a policy of making investments only with commercial institutions that have at least an investment grade credit rating. The Company invests its cash primarily in government securities and obligations, corporate debt securities, money market funds and reverse repurchase agreements (“RRAs”). RRAs are collateralized by deposits in the form of Government Securities and Obligations for an amount not less than 102% of their value. The Company does not record an asset or liability as the Company is not permitted to sell or repledge the associated collateral. The Company has a policy that the collateral has at least an “A” (or equivalent) credit rating. The Company utilizes a third-party custodian to manage the exchange of funds and ensure that collateral received is maintained at 102% of the value of the RRAs on a daily basis. RRAs with stated maturities of greater than three months from the date of purchase are classified as marketable securities. Restricted Cash Restricted cash consists primarily of customer deposits, employee withholding tax liability and employee benefits contributions not yet remitted. The Company has classified this asset as a short-term asset in order to match the expected period of restriction. See Note 8, “Debt” to these condensed consolidated financial statements, for further information. Accounts Receivable and Current Expected Credit Losses Accounts receivable are stated at realizable value, net of allowances, which includes an allowance for doubtful accounts and a reserve for expected credit losses. The allowance for doubtful accounts is based on management’s assessment of the collectability of its customer accounts. The Company regularly reviews the composition of the accounts receivable aging, historical bad debts, changes in payment patterns, customer creditworthiness, current economic trends, and reasonable and supportable forecasts about the future. Relevant risks characteristics include customer size and historical loss patterns. Management has evaluated the expected credit losses related to trade accounts receivable and determined that allowances of approximately $769 and $597 for uncollectible accounts and customer balances that are disputed were required as of December 31, 2019 and June 30, 2020, respectively. Refer to Note 4, “Financial Statement Components” to these condensed consolidated financial statements, for a rollforward of the components of the allowances as of December 31, 2019 and June 30, 2020. Refer to the Recently Adopted Accounting Standard section for the adoption of ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments—Credit Losses for discussion of financial assets measured at amortized cost, including trade receivables. The Company includes unbilled receivables in its accounts receivable balance. Generally, these receivables represent services provided to customers, which will be billed in the next billing cycle. All amounts are considered collectible and billable. As of December 31, 2019 and June 30, 2020, unbilled receivables were $16,200 and $22,658, respectively. Concentration of Credit Risk Financial instruments that are exposed to concentration of credit risk consist primarily of cash and cash equivalents, marketable securities, other investments and trade accounts receivable. Cash deposits may be in excess of insured limits. The Company believes that the financial institutions that hold its cash deposits are financially sound and, accordingly, minimal credit risk exists with respect to these balances. With regard to customers, credit evaluation and account monitoring procedures are used to minimize the risk of loss. The Company believes that no additional credit risk beyond amounts provided for by the allowance for doubtful accounts are inherent in accounts receivable. As of December 31, 2019, no individual customer represented more than 10% of the Company’s accounts receivable, net of allowance for doubtful accounts. As of June 30, 2020, one individual customer represented approximately 11% of the Company’s accounts receivable, net of allowance for doubtful accounts. For the three and six months ended June 30, 2019, no individual customer represented more than 10% of the Company’s total revenue. For both the three and six months ended June 30, 2020, one individual customer represented approximately 10% of the Company's total revenue. Deferred Revenue and Customer Deposits Deferred revenue is recorded when cash payments are received in advance of future usage on contracts. Revenue is typically recognized in the following month as services are rendered or, in the case of nonrefundable upfront fees, over the estimated period of benefit from the date the fee is incurred by the customer. Customer refundable payments are recorded as advanced billings. During the three and six months ended June 30, 2020, the Company recognized revenue of $846 and $1,932 related to its contract liabilities as of December 31, 2019. The Company expects to recognize $5,236 in revenue over the next twelve months related to its contract liabilities as of June 30, 2020. Recently Adopted Accounting Standards In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. This standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. ASU 2018-15 is effective for interim and annual reporting periods beginning after December 15, 2019. As a result of the Company’s prospective adoption of this standard, the Company capitalized implementation costs related to cloud computing arrangements of $432 as of June 30, 2020. See Note 6, “Property and Equipment” to these condensed consolidated financial statements, for additional details. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement, which eliminates certain disclosure requirements for fair value measurements for all entities, requires public entities to disclose certain new information and modifies some disclosure requirements. ASU 2018-13 is effective for interim and annual reporting periods beginning after December 15, 2019 and for interim periods within those fiscal years. The adoption of this standard did not have a material impact on the Company’s financial statements. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, which simplifies the accounting for goodwill impairment. The ASU removes the second step of the goodwill impairment test that requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for interim and annual reporting periods beginning after December 15, 2019. The adoption of this standard did not have a material impact on the Company’s financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments–Credit Losses: Measurement of Credit Losses on Financial Instruments, which changes the impairment model for most financial assets. The new model uses a forward-looking expected loss method, which will generally result in earlier recognition of allowances for losses. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, which clarifies that receivables arising from operating leases are not within the scope of Topic 326, Financial Instruments – Credit Losses. Instead, impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842, Leases. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments, which clarifies how to apply certain aspects of the new credit losses standard. In November 2019, the FASB issued ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates, which amends certain effective dates for the new standard. In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, which clarifies how to apply certain aspects of the new credit losses standard. The accounting standard is effective for annual and interim periods beginning after December 15, 2019. The Company adopted this standard for financial assets measured at amortized cost, including trade receivables. Results for the reporting periods beginning after January 1, 2020 are presented under ASC 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. The adoption of this standard did not have a material impact on the Company’s financial statements. Recent Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted, including adoption in an interim period. The Company is evaluating the effect of adopting this new accounting guidance, but does not expect adoption will have a material impact on its financial statements.

Fair Value Measurements

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

3. Fair Value Measurements

The carrying amounts of cash and cash equivalents, other investments, accounts receivable, accounts payable and accrued expenses approximate fair value as of December 31, 2019 and June 30, 2020 because of the relatively short duration of these instruments.

The Company evaluated its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level in which to classify them for each reporting period.

The following table summarizes the assets measured at fair value as of December 31, 2019 and June 30, 2020:


	Fair value measurements on a recurring basis December 31, 2019
			Level 1			Level 2			Level 3			Total
Financial assets:
Cash and cash equivalents:
Money market account	$	25,000		$	—		$	—		$	25,000
Time deposits	75,250			—			—			75,250










Total financial assets	$	100,250		$	—		$	—		$	100,250


	Fair value measurements on a recurring basis June 30, 2020
			Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents:
Money market account	$	233,333	$	—	$	—	$	233,333
Time deposits	25,195		—		—		25,195


Total included in cash and cash equivalents	258,528		—		—		258,528




Other investments:
Time deposits	230,780		—		—		230,780

Total financial assets	$	489,308	$	—	$	—	$	489,308

As of June 30, 2020, the fair value of the Convertible Notes, as further described in Note 8, “Debt”, was approximately $598,500. The fair value was determined based on the closing price for the Convertible Notes on the last trading day of the reporting period and is considered as Level 2 in the fair value hierarchy.

The money market account is included in cash and cash equivalents in the condensed consolidated balance sheets as of December 31, 2019 and June 30, 2020.

During the three and six months ended June 30, 2019, there were $9,000 and $18,000 in maturities of marketable securities, respectively.

Interest earned on marketable securities was $3 and $6 for the three and six months ended June 30, 2019, respectively, and $0 for the three and six months ended June 30, 2020, and is recorded within other income (expense), net, in the accompanying condensed consolidated statements of operations.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Financial Statement Components

6 Months Ended

Jun. 30, 2020

Financial Statement Components [Abstract]

Financial Statement Components

4. Financial Statement Components

Accounts receivable, net of allowances consist of the following:


	As of December 31,		As of June 30,
	2019		2020
Trade accounts receivable	$	14,692	$	19,122
Unbilled accounts receivable	16,200		22,658
Allowance for doubtful accounts and reserve for expected credit losses	(769)		(597)
Other accounts receivable	64		596
Total accounts receivable, net	$	30,187	$	41,779

Components of allowance for doubtful accounts and reserve for expected credit losses are as follows:


	Three months ended June 30,						Six months ended June 30,
	2019		2020		2019		2020
Balance, beginning of period	$	(1,018)	$	(883)	$	(906)	$	(769)
Charged to bad debt expense	(284)		9		(416)		(180)
Deductions (1)	209		277		229		352



Balance, end of period	$	(1,093)	$	(597)	$	(1,093)	$	(597)

________________________

(1) Write off of uncollectible accounts after all collection efforts have been exhausted.

Accrued expenses and other current liabilities consisted of the following:


	As of December 31,		As of June 30,
	2019		2020
Accrued expense	$	12,701	$	15,578
Accrued compensation and benefits	8,284		7,789
Accrued sales, use, and telecom related taxes	5,439		5,633

Other accrued expenses	904		405
Total accrued expenses and other current liabilities	$	27,328	$	29,405

Right-of-Use Asset and Lease Liabilities

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Right-of-Use Asset and Lease Liabilities

5. Right-of-Use Asset and Lease Liabilities

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). Under the new standard, lessees are required to recognize in the balance sheet the right-of-use (“ROU”) assets and lease liabilities that arise from operating leases. As a result of the Company no longer qualifying as an “emerging growth company” based on its public float as of the end of the fiscal quarter ended June 30, 2019, the ASU was adopted as of December 31, 2019 with an effective date as of the beginning of the Company’s fiscal year, January 1, 2019. The standard was applied to the operating leases that existed on that date using the optional alternative method on a prospective basis. Prior year comparative financial information was recast under the new standard to be presented under ASC 842.

ROU assets represent the Company’s right to use an underlying asset for the lease term, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. The Company determines if an arrangement is a lease at inception. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The Company did not have any finance leases as of June 30, 2020. The Company presents the operating leases in long-term assets and current and long-term liabilities in the accompanying condensed consolidated balance sheet as of June 30, 2020.

The Company sub-leases approximately 17,073 square feet of office space to a related party, Republic Wireless, Inc. (“Republic”). Future minimum sub-lease receipts required under the non-cancellable lease are as follows:


	As of June 30,
	2020
2020 (remaining)	$	225
2021	457
2022	249


	$	931

As of June 30, 2020, the Company had six leased properties, with remaining lease terms of 2.08 years to 5.17 years, some of which include options to extend the leases for up to 5 years. None of the options to extend the leases are recognized in operating lease ROU assets or lease liabilities. None of the leases include options to terminate the lease.

The components of lease expense recorded in the condensed consolidated statement of operations were as follows:


	Three months ended June 30,						Six months ended June 30,
	2019		2020		2019			2020
Operating lease cost	$	1,434	$	1,461	$	2,653		$	2,922





Sublease income (1)	(200)		(96)		(451)			(192)
Total net lease cost	$	1,234	$	1,365	$	2,202		$	2,730

________________________

(1) See Note 15, “Related Parties” to these condensed consolidated financial statements, for additional details on sublease income.

Supplemental balance sheet information related to leases was as follows:


		As of December 31,				As of June 30,
Leases	Classification	2019				2020
Assets:
Operating lease assets	Operating ROU asset, net of accumulated amortization (1)	$	21,031			$	18,699

Total leased assets				$	21,031			$	18,699

Liabilities:
Current
Operating	Operating lease liability, current	$	4,876			$	5,067

Non-current
Operating	Operating lease liability, non-current	19,868				17,065

Total lease liabilities				$	24,744			$	22,132

________________________

(1) Operating lease assets are recorded net of accumulated amortization of $4,269 and $6,601 as of December 31, 2019 and June 30, 2020, respectively.

Supplemental cash flow and other information related to leases was as follows:


	Six months ended June 30,
	2019			2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	1,714		$	2,612




Weighted average remaining operating lease term (in years)	4.76			3.88



Weighted average operating lease discount rate	5.00		%	4.99		%

Maturities of operating lease liabilities were as follows:


	As of June 30,
	2020
2020 (remaining)	$	2,705
2021	6,587
2022	6,302
2023	5,926
2024	1,987
2025	949

Total lease payments	24,456
Less: imputed interest	(2,304)
Less: accrued lease incentive	(20)
Total lease obligations	22,132
Less: current obligations	(5,067)
Long-term lease obligations	$	17,065

Property and Equipment

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

6. Property and Equipment

Property and equipment, net consisted of the following:


	As of December 31,		As of June 30,
	2019		2020
Furniture and fixtures	$	2,373	$	2,388
Computer and office equipment	4,627		4,764
Telecommunications equipment	44,324		50,431
Leasehold improvements	5,263		5,846
Software	2,018		2,427
Internal-use software development	17,952		19,183
Automobile	10		10
Total cost	76,567		85,049
Less—accumulated depreciation	(34,913)		(41,279)
Total property and equipment, net	$	41,654	$	43,770

The Company capitalized $1,080 and $1,675 of software development costs in the three and six months ended June 30, 2019, respectively, and $708 and $1,498 in the three and six months ended June 30, 2020, respectively.

Amortization expense related to capitalized software development costs were $384 and $1,173 for the three and six months ended June 30, 2019, respectively, and $588 and $1,170 for the three and six months ended June 30, 2020, respectively. As of June 30, 2020, unamortized implementation costs related to cloud computing arrangements are $432, of which $104 are included in prepaid expenses and other current assets and $328 are included in other long-term assets.

The Company recognized depreciation expense, which includes amortization of capitalized software development costs, as follows:


	Three months ended June 30,						Six months ended June 30,
	2019		2020		2019		2020
Cost of revenue	$	1,530	$	2,340	$	2,823	$	4,674
Research and development	63		129		131		244
Sales and marketing	24		31		52		60
General and administrative	365		712		1,055		1,402
Total depreciation expense	$	1,982	$	3,212	$	4,061	$	6,380

Intangible Assets

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

7. Intangible Assets

Intangible assets, net consisted of the following as of December 31, 2019:


	Gross Amount		Accumulated Amortization		Net Carrying Value		Amortization Period
							(Years)
Customer relationships	$	10,396	$	(4,591)	$	5,805	20




Other, definite lived	3,933		(3,933)		—		2 - 7
Licenses, indefinite lived	764		—		764		Indefinite
Total intangible assets, net	$	15,093	$	(8,524)	$	6,569

Intangible assets, net consisted of the following as of June 30, 2020:


	Gross Amount		Accumulated Amortization		Net Carrying Value		Amortization Period
							(Years)
Customer relationships	$	10,396	$	(4,851)	$	5,545	20




Other, definite lived	3,933		(3,933)		—		2 - 7
Licenses, indefinite lived	764		—		764		Indefinite
Total intangible assets, net	$	15,093	$	(8,784)	$	6,309

Amortization expense for definite lived intangible assets was $130 and $260 for the three and six months ended June 30, 2019, respectively, and $130 and $260 for the three and six months ended June 30, 2020, respectively. The remaining amortization period for definite lived intangible assets is 11 years.

Future estimated amortization expense for definite lived intangible assets is as follows:


	As of June 30,
	2020
2020 (remaining)	$	260
2021	520
2022	520
2023	520
2024	520


Thereafter	3,205
	$	5,545

Debt

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Debt

8. Debt

Revolving Loan

On February 25, 2020, the Company entered into a waiver agreement with respect to its revolving loan (the “Credit Facility”) with KeyBank National Association and Pacific Western Bank (the “Lenders”), which provides for consent to accommodate the issuance of the Convertible Notes and entry into the Capped Calls (as defined below). The waiver agreement (“Cash Collateral Requirement”) requires the Company to covenant with the Lenders to deposit an amount of funds into a controlled account, which will restrict the ability to use such funds until the Credit Facility is paid in full or terminated. If the Company fails to comply with these covenants or to make payments under its indebtedness when due, the Company would be in default under that indebtedness, which could, in turn, result in that indebtedness becoming immediately payable in full. On April 27, 2020, the First Amendment Agreement to the Credit Security Agreement was executed in which the Lenders consented to remove the cash collateral requirement and to terminate the controlled account.

As of December 31, 2019, unamortized debt issuance costs were $125, of which $70 were in included in prepaid expenses and other current assets and $55 were included in other long-term assets. As of June 30, 2020, the outstanding debt issuance costs are $96, of which $62 are included in prepaid expenses and other current assets and $34 are included in other long-term assets.

As of December 31, 2019 and June 30, 2020, the Company had $0 outstanding on the Credit Facility and was in compliance with all financial and non-financial covenants for all periods presented. The available borrowing capacity under the Credit Facility was $25,000 as of June 30, 2020.

Convertible Senior Notes and Capped Call Transactions

On February 28, 2020, the Company issued $400,000 aggregate principal amount of 0.25% Convertible Notes due March 1, 2026 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act (the “Convertible Notes”). The interest on the Convertible Notes is payable semi-annually in arrears on March 1 and September 1 of each year, beginning on September 1, 2020.

The Convertible Notes may bear special interest under specified circumstances relating to the Company's failure to comply with its reporting obligations under the indenture governing the Convertible Notes (the “indenture”) or if the Convertible Notes are not freely tradeable as required by the indenture. The Convertible Notes will mature on March 1, 2026, unless earlier repurchased, redeemed by the Company, or converted pursuant to their terms. The total net proceeds from the Convertible Notes, after deducting initial purchaser discounts, costs related to the Capped Calls, and debt issuance costs, paid by the Company, were approximately $344,757.

Each $1 principal amount of the Convertible Notes is initially convertible into 10.9857 shares of the Company's Class A common stock, par value $0.001 per share, which is equivalent to an initial conversion price of approximately $91.03 per share. The conversion rate is subject to adjustment upon the occurrence of certain

specified events but will not be adjusted for any accrued and unpaid special interest. In addition, upon the occurrence of a make-whole fundamental change, as defined in the indenture, the Company will, in certain circumstances, increase the conversion rate by a number of additional shares for a holder that elects to convert its Convertible Notes in connection with such make-whole fundamental change or during the relevant redemption period.

The Convertible Notes will be redeemable in whole or in part at the Company's option on or after March 6, 2023, but before the 40th scheduled trading day before the maturity date, at a cash redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest, if any, if the last reported sale price of the Class A common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading days ending on, and including, the trading day immediately before the date the redemption notices were sent; and the trading day immediately before such notices were sent.

Prior to the close of business on the business day immediately preceding September 1, 2025, the Convertible Notes may be convertible at the option of the holders only under the following circumstances:

(1)during any calendar quarter commencing after the calendar quarter ending on June 30, 2020 (and only during such calendar quarter), if the last reported sale price per share of the Company's Class A common stock exceeds 130% of the conversion price for each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter;

(2)during the five consecutive business days immediately after any 10 consecutive trading day period (such 10 consecutive trading day period, the “measurement period”) in which the trading price per $1 principal amount of Convertible Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price per share of the Company's Class A common stock on such trading day and the conversion rate on such trading day;

(3)upon the occurrence of certain corporate events or distributions on its Class A common stock; and

(4)if the Company calls such Convertible Notes for redemption.

On or after September 1, 2025, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders of the Convertible Notes may, at their option, convert all or a portion of their Convertible Notes regardless of the foregoing conditions.

Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of Class A common stock, or a combination of cash and shares of Class A common stock, at the Company's election. It is the Company's current intent to settle the principal amount of the Convertible Notes with cash.

During the three months ended June 30, 2020, the conditions allowing holders of the Convertible Notes to convert were not met.

No sinking fund is provided for the Convertible Notes. Upon the occurrence of a fundamental change (as defined in the indenture) prior to the maturity date, holders may require the Company to repurchase all or a portion of the Convertible Notes for cash at a price equal to the principal amount of the Convertible Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the fundamental change repurchase date.

The Convertible Notes are the senior, unsecured obligations of the Company and are equal in right of payment with the Company’s existing and future senior unsecured indebtedness, senior in right of payment to the Company’s existing and future indebtedness that is expressly subordinated to the Convertible Notes and effectively subordinated to the Company’s existing and future senior secured indebtedness (including the Company’s $25,000 Credit Facility), to the extent of the value of the collateral securing that indebtedness. The Convertible Notes will be

structurally subordinated to all existing and future indebtedness and other liabilities, including trade payables, and preferred equity, if any, of the Company’s subsidiaries.

In accounting for the issuance of the Convertible Notes, the Company separated the Convertible Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar debt instrument that does not have an associated convertible feature. The carrying amount of the equity component representing the conversion option was $125,160 and was determined by deducting the fair value of the liability component from the par value of the Convertible Notes. The difference represents the debt discount that is amortized to interest expense at an effective interest rate of 6.763% over the term of the Convertible Notes. The carrying amount of the equity component was $57,491 and is recorded in additional paid-in-capital. The equity component is not remeasured as long as it continues to meet the conditions for equity classification. The excess of the principal amount of the liability component over its carrying amount, or the debt discount, is amortized to interest expense at an annual effective interest rate of 6.805% over the contractual terms of the Convertible Notes.

In accounting for the transaction costs related to the Convertible Notes, the Company allocated the total amount incurred to the liability and equity components of the Convertible Notes based on the proportion of the proceeds allocated to the debt and equity components. Issuance costs attributable to the liability component were approximately $8,217, were recorded as an additional debt discount and are amortized to interest expense using the effective interest method over the contractual terms of the Convertible Notes. Issuance costs attributable to the equity component of $3,742 were netted with the equity component in stockholders’ equity.

The net carrying amount of the liability component of the Convertible Notes was as follows:


	As of June 30,
	2020
Principal	$	400,000
Unamortized discount	(119,269)
Unamortized debt issuance costs	(7,830)
Net carrying amount	$	272,901

The net carrying amount of the equity component of the Convertible Notes was as follows:


	As of June 30,
	2020
Proceeds allocated to the conversion options (debt discount)	$	125,160
Issuance costs	(3,742)
Net carrying amount	$	121,418

The following table sets forth the interest expense recognized related to the Convertible Notes:


	Three months ended June 30,		Six months ended June 30,
	2020		2020
Contractual interest expense	$	249	$	345
Amortization of debt issuance costs	4,262		5,891
Amortization of debt discount	280		386
Total interest expense related to the Convertible Notes	$	4,791	$	6,622

In connection with the offering of the Convertible Notes, the Company entered into privately negotiated capped call transactions with certain counterparties (the “Capped Calls”). The Capped Calls each have an initial

strike price of approximately $91.03 per share, subject to certain adjustments, which corresponds to the initial conversion price of the Convertible Notes. The Capped Calls have initial cap prices of $137.40 per share, subject to certain adjustments. The Capped Calls cover, subject to anti-dilution adjustments, approximately 4,394,276 shares of Class A common stock. The Capped Calls are generally intended to reduce or offset the potential dilution to the Class A common stock upon any conversion of the Convertible Notes with such reduction or offset, as the case may be, subject to a cap based on the cap price. The Capped Calls expire on the earlier of (i) the last day on which any convertible securities remain outstanding and (ii) March 1, 2026, subject to earlier exercise. The Capped Calls are subject to either adjustment or termination upon the occurrence of specified extraordinary events affecting the Company, including a merger event, a tender offer, and a nationalization, insolvency or delisting involving the Company. In addition, the Capped Calls are subject to certain specified additional disruption events that may give rise to a termination of the Capped Calls, including changes in law, insolvency filings, and hedging disruptions. The Capped Call transactions are recorded in stockholders’ equity and are not accounted for as derivatives. The net cost of $43,320 incurred to purchase the Capped Calls was recorded as a reduction to additional paid-in capital in the accompanying condensed consolidated balance sheets.

Segment and Geographic Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment and Geographic Information

9. Segment and Geographic Information

The Company has two reportable segments, CPaaS and Other. Segments are primarily evaluated based on revenue and gross profit. The Company does not allocate operating expenses, interest expense or income tax expense to its segments. Accordingly, the Company does not report such information. Additionally, the Chief Operating Decision Maker does not evaluate the Company’s operating segments using discrete asset information. The segments share the majority of the Company’s assets. Therefore, no segment asset information is reported.


	Three months ended June 30,						Six months ended June 30,
	2019		2020		2019		2020
CPaaS
Revenue	$	47,989	$	67,076	$	93,002	$	126,197
Cost of revenue	26,473		37,229		51,773		69,121
Gross profit	$	21,516	$	29,847	$	41,229	$	57,076
Other
Revenue	$	8,790	$	9,714	$	17,098	$	19,111
Cost of revenue	3,637		4,780		7,103		9,247
Gross profit	$	5,153	$	4,934	$	9,995	$	9,864
Consolidated
Revenue	$	56,779	$	76,790	$	110,100	$	145,308
Cost of revenue	30,110		42,009		58,876		78,368
Gross profit	$	26,669	$	34,781	$	51,224	$	66,940

The Company's long-lived assets were primarily held in the United States as of December 31, 2019 and June 30, 2020. As of December 31, 2019 and June 30, 2020, long-lived assets held outside of the United States were $2,924 and $2,321, respectively.

The Company generates its revenue primarily in the United States. Revenue by geographic area is detailed in the table below (which is determined based on the customer billing address):


	Three months ended June 30,						Six months ended June 30,
	2019		2020		2019		2020
CPaaS
United States	$	47,907	$	65,207	$	92,851	$	122,605
International	82		1,869		151		3,592
Total	$	47,989	$	67,076	$	93,002	$	126,197

Other
United States	$	8,722	$	9,418	$	16,951	$	18,543
International	68		296		147		568
Total	$	8,790	$	9,714	$	17,098	$	19,111

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stockholders' Equity

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Stockholders' Equity

10. Stockholders’ Equity

Preferred Stock

As of December 31, 2019 and June 30, 2020, the Company had authorized 10,000,000 shares of undesignated preferred stock, par value $0.001, of which no shares were issued and outstanding.

Common Stock

As of December 31, 2019 and June 30, 2020, the Company had authorized 100,000,000 shares of Class A common stock, par value $0.001 per share, with one vote per share and 20,000,000 shares of Class B common stock, par value $0.001 per share, with ten votes per share. As of December 31, 2019, 18,584,478 and 4,927,401 shares of Class A common stock and Class B common stock, respectively, were issued and outstanding. As of June 30, 2020, 20,555,717 and 3,599,554 shares of Class A common stock and Class B common stock, respectively, were issued and outstanding.

Shares of Class B common stock are convertible into shares of Class A common stock upon the stockholder’s voluntary written notice to the Company’s transfer agent or a transfer by the stockholder, subject to limited exceptions for transfers for estate planning purposes.

Reserved Shares

The Company had reserved shares of Class A common stock for issuance under stock-based award agreements as follows:


	As of December 31,	As of June 30,
	2019	2020
Stock options issued and outstanding	853,399	313,956
Nonvested restricted stock units issued and outstanding	392,351	468,797
Stock-based awards available for grant under the 2017 Plan	1,310,354	2,037,531
	2,556,104	2,820,284

Stock Based Compensation

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Stock Based Compensation

11. Stock Based Compensation

2010 Stock Option Plan

As of July 26, 2010, the Company adopted the 2010 Equity Compensation Plan (the “2010 Plan”). On November 9, 2017, the 2010 Plan was terminated in connection with the Company’s initial public offering. Accordingly, no shares are available for future issuance under the 2010 Plan. However, the 2010 Plan continues to govern the terms and conditions of the outstanding awards granted thereunder.

2017 Incentive Award Plan

The Company’s 2017 Incentive Award Plan (the “2017 Plan”) became effective on November 9, 2017. The 2017 Plan provides for the grant of stock options, including incentive stock options and non-qualified stock options, stock appreciation rights, restricted stock, dividend equivalents, restricted stock units, and other stock or cash based awards to employees, consultants and directors of the Company. A total of 1,050,000 shares of the Company’s Class A common stock were originally reserved for issuance under the 2017 Plan. These available shares automatically increase each January 1, beginning on January 1, 2018, by 5% of the number of shares of the Company’s Class A common stock outstanding on the final day of the immediately preceding calendar year. On January 1, 2020, the shares available for grant under the 2017 Plan were automatically increased by 929,224 shares.

The terms of the stock option grants are determined by the Company’s Board of Directors. The Company’s stock options vest based on terms of the stock option agreements, which is generally over four years. The stock options have a contractual life of ten years.

Restricted stock units (“RSUs”) granted under the 2017 Plan are subject to a time-based vesting condition. The compensation expense related to these awards is based on the grant date fair value of the RSUs and is recognized on a ratable basis over the applicable service period. The Company granted RSUs to its non-employee Board of Directors, some of which vested immediately while others vest 25% as of each calendar quarter immediately following the grant date. Certain RSUs awarded to executives vest over four years with 50% vesting in the first year in 12.5% increments on each calendar quarter immediately following the grant date and the remaining 50% earned over years two, three and four. Other RSUs awarded to executives and employees generally are earned over a service period of four years.

Stock Options

The following summarizes the stock option activity for the periods presented:


	Number of options outstanding	Weighted- average exercise price (per share)		Weighted- average remaining contract life (in years)	Aggregate intrinsic value (in thousands)
Outstanding as of December 31, 2019	853,399	$	8.07	3.41	$	47,770
Granted	—	—
Exercised	(534,241)	6.63			45,248
Forfeited or cancelled	(5,202)	10.31
Outstanding as of June 30, 2020	313,956	$	10.50	4.86	$	36,577

Options vested and exercisable at June 30, 2020	240,354	$	8.96	4.22	$	28,372
Options vested and expected to vest as of June 30, 2020	313,458	$	10.49	4.86	$	36,521

Aggregate intrinsic value is computed based on the difference between the option exercise price and the fair value of the Company’s common stock as of June 30, 2020, based on the Company’s Class A common stock price as reported on the NASDAQ Global Select Market.

No options were granted for the three and six months ended June 30, 2019 and 2020.

The total estimated grant date fair value of options vested was $223 and $280 for the three and six months ended June 30, 2019, respectively, and $83 and $129 for the three and six months ended June 30, 2020, respectively.

As of June 30, 2020, total unrecognized compensation cost related to all non-vested stock options was $305, which will be amortized over a weighted-average period of 1.06 years.

Restricted Stock Units

The following summarizes the RSU activity for the periods presented:


	Number of awards outstanding	Weighted-average grant date fair value (per share)
Nonvested RSUs as of December 31, 2019	392,351	$	35.22
Granted	211,260	64.55
Vested	(125,695)	39.20
Forfeited or cancelled	(9,119)	46.55
Nonvested RSUs as of June 30, 2020	468,797	$	47.15

As of June 30, 2020, total unrecognized compensation cost related to non-vested RSUs was $19,758, which will be amortized over a weighted-average period of 2.92 years.

Stock-Based Compensation Expense

The Company recognized total stock-based compensation expense as follows:


	Three months ended June 30,						Six months ended June 30,
	2019		2020		2019		2020
Cost of revenue	$	50	$	(60)	$	106	$	115
Research and development	358		620		730		1,073
Sales and marketing	292		376		612		771
General and administrative	930		1,489		1,858		2,965
Total	$	1,630	$	2,425	$	3,306	$	4,924

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Operating Leases The Company leases office space under operating lease agreements that expire over the next 5.17 years. See Note 5, “Right-of-Use Asset and Lease Liabilities” to the condensed consolidated financial statements, for additional details on the Company's operating lease commitments. Contractual Obligations On October 25, 2015, the Company entered into an agreement with a telecommunications service provider. The service agreement requires the Company to pay a monthly recurring charge beginning on January 1, 2016 associated with the services received. The service agreement is non-cancellable and contains annual minimum commitments of $1,200, to be fulfilled over five years or for as long as the Company continues to receive services from this vendor. In addition, as of June 30, 2020, the Company has $9,983 in other non-cancellable purchase obligations, consisting of primarily network equipment maintenance and software license contracts, of which $5,516 will be fulfilled within one year. On May 16, 2020, the Company entered into an indemnity agreement with a development company (the “developer”) relating to predevelopment work for approximately 40 acres of vacant land in Raleigh, North Carolina, currently owned by the State of North Carolina (the “State”), upon which the Company intends to construct its office headquarters. The indemnity agreement requires the Company to reimburse the developer fifty percent of the predevelopment work expenses, to a maximum of $318, if certain conditions are not satisfied. As of June 30, 2020, the Company expects all of the required conditions to be satisfied. On June 15, 2020, the Company signed a Purchase and Sale Agreement (the “Purchase and Sale Agreement”) with the State regarding the proposed sale to Bandwidth of the approximately 40 acres of vacant land located at the southwest quadrant of Reedy Creek Road and Edwards Mill Road in Raleigh, North Carolina (the “Land”). The consideration for the proposed sale of the Land to Bandwidth is $30,000. The Purchase and Sale Agreement is subject to due diligence, approvals and other customary closing conditions. Legal Matters The Company is involved as a defendant in various lawsuits alleging that the Company failed to bill, collect and remit certain taxes and surcharges associated with the provision of 911 services pursuant to applicable laws in various jurisdictions. In August 2016, the Company received a Civil Investigative Demand from the Consumer Protection Division of the North Carolina Department of Justice, though the Company has not been served with a complaint in connection with that investigation. The North Carolina Department of Justice is investigating the billing, collection and remission of certain taxes and surcharges associated with 911 service pursuant to applicable laws of the State of North Carolina. While the results of these legal proceedings cannot be predicted with certainty, in the opinion of management, the ultimate resolution of these matters will not have a material adverse effect on the Company’s financial position or results of operations.

Employee Benefit Plan	6 Months Ended
Employee Benefit Plan	Jun. 30, 2020
Retirement Benefits [Abstract]
Employee Benefit Plan	13. Employee Benefit Plan The Company sponsors a defined contribution 401(k) plan, which allows eligible employees to defer a portion of their compensation. The Company, at its discretion, may make matching contributions. The Company made matching contributions of $373 and $886 for the three and six months ended June 30, 2019, respectively, and $475 and $1,109 for the three and six months ended June 30, 2020, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	14. Income Taxes At the end of each interim reporting period, the Company determines the income tax provision by using an estimate of the annual effective tax rate, adjusted for discrete items occurring in the quarter. The effective income tax rate reflects the effect of federal and state income taxes and the permanent impacts of differences in book and tax accounting. The Company’s effective tax rate was 213.7% and 162.8% for the three and six months ended June 30, 2019, respectively, and (399.1)% and (173.8)% for the three and six months ended June 30, 2020, respectively. The change in tax rate is primarily due to the change in judgment related to the realizability of certain deferred tax assets and the resulting valuation allowance. Judgment is required in determining whether deferred tax assets will be realized in full or in part. Management assesses the available positive and negative evidence on a jurisdictional basis to estimate if deferred tax assets will be recognized and when it is more likely than not that all or some deferred tax assets will not be realized, and a valuation allowance must be established. During the three months ended June 30, 2020, management reviewed all available evidence and determined it was not more likely than not that the U.S. deferred tax assets would be realized. The evidence considered in this assessment included, but was not limited to, negative cumulative earnings over multiple periods, the increase in net deferred tax assets as a result of stock compensation deductions, as well as decreased future forecasted income associated with intentional investment in the business. Accordingly, income tax expense for the three months ended June 30, 2020 included a $14,173 charge to increase the valuation allowance on the U.S. deferred tax assets which was treated as a discrete item for the three months ended June 30, 2020. The Company’s effective tax rate for the three and six months ended June 30, 2020, is lower than the U.S. federal statutory rate of 21.0% primarily due to the change in judgment related to the realizability of certain deferred tax assets and the corresponding valuation allowance. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the “Act”) was enacted. This Act included multiple income tax provisions that impact the Company’s tax expense, such as relaxing limitations on the deductibility of interest and the use of net operating losses arising in taxable years beginning after December 31, 2017. The Company has accounted for the estimated impact of the Act.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Related Parties	6 Months Ended
Related Parties	Jun. 30, 2020
Related Party Transactions [Abstract]
Related Parties	15. Related Parties On April 20, 2015, the Company created a wholly owned subsidiary, Republic, which was incorporated in Delaware. On November 30, 2016, the Company completed a pro-rata distribution of the common stock of Republic to its stockholders of record as of the close of business (the “Spin-Off”). In connection with the Spin-Off on November 30, 2016, the Company and Republic entered into certain agreements in order to govern the ongoing relationships between the two companies after the Spin-Off and to provide for an orderly transition. The agreements include a Transition Services Agreement, Facilities Sharing Agreement, Tax Sharing Agreement, and Master Services Agreement. The equity holders of Bandwidth pre-initial public offering are comprised of substantially the same individuals and entities that are the equity owners of Republic. The Company has determined the equity owners of Republic are related parties of Bandwidth. The Company has certain involvement with Republic via ongoing services arrangements, with these ongoing services arrangements creating a variable interest in Republic. The Company assessed the relationship with Republic under guidance for variable interest entities (“VIE”). Because investors in Republic have disproportionate voting rights, the Company concluded that Republic is a VIE, but Bandwidth is not a primary beneficiary. The Company’s maximum exposure to loss relating to this VIE is limited to amounts due under the service agreements between the Company and Republic. The Company recorded a reduction of rent expense under the Facilities Sharing Agreement of $200 and $451 for the three and six months ended June 30, 2019, respectively, and $96 and $192 for the three and six months ended June 30, 2020, respectively, which is included in general and administrative expenses in the condensed consolidated statements of operations. No amounts were due to the Company under the Facilities Sharing Agreement as of December 31, 2019 and June 30, 2020. The Tax Sharing Agreement governs rights and obligations after the Spin-Off regarding income taxes and other taxes, including tax liabilities and benefits, attributes, returns and contests. There were no amounts outstanding or payable under this agreement as of December 31, 2019 and June 30, 2020. The Master Services Agreement specifies certain wholesale telecommunications services to be provided by the Company. The agreement is cancellable at any time by either party. The Company provided telecommunication services to Republic of $677 and $1,569 for the three and six months ended June 30, 2019, respectively, and $583 and $1,116 for the three and six months ended June 30, 2020, respectively. The Company recognized such amounts as revenue in the accompanying condensed consolidated statements of operations. As of December 31, 2019 and June 30, 2020, the Company had a receivable of $161 and $192, respectively, under the Master Services Agreement. On March 1, 2019, an amendment to the current Master Services Agreement was executed. Pursuant to the terms of the new agreement, Republic receives reduced pricing on its messaging services, effective April 1, 2019. All other terms and conditions of the existing agreement remain. On June 20, 2019, Republic executed a further amendment to the current Master Services Agreement. Pursuant to the terms of the June 20, 2019 amendment, Republic receives reduced pricing on its outbound voice services effective on June 20, 2019. Republic also executed a revenue commitment schedule on June 20, 2019. Pursuant to the revenue commitment schedule, Republic agreed to spend a minimum of $100 per month during the 11-month period commencing July 1, 2019 through May 31, 2020. Subsequent to the expiration of the 180-day IPO blackout window on May 9, 2018, Republic employees that held Bandwidth stock options began exercising their options. Upon exercise, Bandwidth withholds the employee tax amounts due from the proceeds. Bandwidth had collected on behalf of, and remitted withholding tax to, Republic of $714 and $1,327 for the three and six months ended June 30, 2019, respectively, and $241 and $549 for the three and six months ended June 30, 2020, respectively. There were no amounts outstanding or payable as of December 31, 2019 and June 30, 2020. On September 30, 2019, the Company entered into a services agreement with Republic. Pursuant to the terms of the new agreement, Republic receives services performed by the Company’s legal department, effective September 30, 2019. The Company is compensated by Republic for these services based on costs incurred by the Company. The Company received net compensation under this agreement of $16 and $47 for the three and six months ended June 30, 2020, respectively, which is included in general and administrative expenses in the condensed consolidated statements of operations. As of December 31, 2019 and June 30, 2020, the Company had a receivable of $10 and $5 under this agreement, respectively.

Basic and Diluted Income (Loss) per Common Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Basic and Diluted Income (Loss) per Common Share

16. Basic and Diluted Income (Loss) per Common Share

Basic net income (loss) per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by giving effect to all potential shares of common stock, including stock options and stock related to unvested restricted stock awards.

The components of basic and diluted income (loss) per share are as follows:


	Three months ended June 30,						Six months ended June 30,
	2019		2020		2019		2020



Net income (loss) attributable to common stockholders	$	3,472	$	(20,641)	$	5,464	$	(21,699)
Net income (loss) per share:
Basic	$	0.15	$	(0.86)	$	0.25	$	(0.91)
Diluted	$	0.14	$	(0.86)	$	0.23	$	(0.91)














Weighted Average Number of Common Shares Outstanding
Basic	23,102,553		23,973,663		21,807,523		23,768,616
Dilutive effect of stock options and restricted stock units	1,344,864		—		1,454,973		—
Diluted	24,447,417		23,973,663		23,262,496		23,768,616

There were no common share equivalents with anti-dilutive effects for the three and six months ended June 30, 2019. The common share equivalents with anti-dilutive effects excluded from the weighted average shares used to calculate net loss per common share for the three and six months ended June 30, 2020 were 313,956 stock options and 468,797 nonvested RSUs outstanding, respectively.

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Certain information and disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in the Company's Annual Report on Form 10-K filed with the SEC on February 21, 2020. The condensed consolidated balance sheet as of December 31, 2019, included herein, was derived from the audited financial statements as of that date, but does not include all disclosures, including certain notes required by GAAP on an annual reporting basis. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive income (loss) and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full year 2020 or any future period.
Reclassification	Reclassification The Company reclassified certain prior year amounts to conform to the current year presentation. These reclassifications had no impact on the previously reported total assets, liabilities, stockholder’s deficit or net income.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of Bandwidth Inc. and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires the Company to make estimates and judgments that affect the amounts reported in these financial statements and accompanying notes. These estimates in the condensed consolidated financial statements include, but are not limited to, allowance for doubtful accounts, reserve for expected credit losses, reserve for sales credits, recoverability of long lived and intangible assets, discount rates used in the valuation of right-of-use assets and lease liabilities, the fair value of the liability and equity components of the Company’s Convertible Notes (as defined herein), estimated period of benefit, valuation allowances on deferred tax assets, certain accrued expenses, and contingencies. Although the Company believes that the estimates it uses are reasonable, due to the inherent uncertainty involved in making these estimates, actual results reported in future periods could differ from those estimates.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents The Company classifies all highly liquid investments with stated maturities of three months or less from the date of purchase as cash equivalents and all highly liquid investments with stated maturities of greater than three months from the date of purchase as current marketable securities, with the exception of time deposits which are classified as other investments. Cash deposits are primarily in financial institutions in the United States. However, cash for monthly operating costs of international operations are deposited in banks outside the United States. The Company has a policy of making investments only with commercial institutions that have at least an investment grade credit rating. The Company invests its cash primarily in government securities and obligations, corporate debt securities, money market funds and reverse repurchase agreements (“RRAs”). RRAs are collateralized by deposits in the form of Government Securities and Obligations for an amount not less than 102% of their value. The Company does not record an asset or liability as the Company is not permitted to sell or repledge the associated collateral. The Company has a policy that the collateral has at least an “A” (or equivalent) credit rating. The Company utilizes a third-party custodian to manage the exchange of funds and ensure that collateral received is maintained at 102% of the value of the RRAs on a daily basis. RRAs with stated maturities of greater than three months from the date of purchase are classified as marketable securities. Restricted Cash Restricted cash consists primarily of customer deposits, employee withholding tax liability and employee benefits contributions not yet remitted. The Company has classified this asset as a short-term asset in order to match the expected period of restriction. See Note 8, “Debt” to these condensed consolidated financial statements, for further information.
Accounts Receivable	Accounts Receivable and Current Expected Credit Losses Accounts receivable are stated at realizable value, net of allowances, which includes an allowance for doubtful accounts and a reserve for expected credit losses. The allowance for doubtful accounts is based on management’s assessment of the collectability of its customer accounts. The Company regularly reviews the composition of the accounts receivable aging, historical bad debts, changes in payment patterns, customer creditworthiness, current economic trends, and reasonable and supportable forecasts about the future. Relevant risks characteristics include customer size and historical loss patterns. Management has evaluated the expected credit losses related to trade accounts receivable and determined that allowances of approximately $769 and $597 for uncollectible accounts and customer balances that are disputed were required as of December 31, 2019 and June 30, 2020, respectively. Refer to Note 4, “Financial Statement Components” to these condensed consolidated financial statements, for a rollforward of the components of the allowances as of December 31, 2019 and June 30, 2020. Refer to the Recently Adopted Accounting Standard section for the adoption of ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments—Credit Losses for discussion of financial assets measured at amortized cost, including trade receivables.The Company includes unbilled receivables in its accounts receivable balance. Generally, these receivables represent services provided to customers, which will be billed in the next billing cycle. All amounts are considered collectible and billable.
Current Expected Credit Losses	Accounts Receivable and Current Expected Credit Losses Accounts receivable are stated at realizable value, net of allowances, which includes an allowance for doubtful accounts and a reserve for expected credit losses. The allowance for doubtful accounts is based on management’s assessment of the collectability of its customer accounts. The Company regularly reviews the composition of the accounts receivable aging, historical bad debts, changes in payment patterns, customer creditworthiness, current economic trends, and reasonable and supportable forecasts about the future. Relevant risks characteristics include customer size and historical loss patterns. Management has evaluated the expected credit losses related to trade accounts receivable and determined that allowances of approximately $769 and $597 for uncollectible accounts and customer balances that are disputed were required as of December 31, 2019 and June 30, 2020, respectively. Refer to Note 4, “Financial Statement Components” to these condensed consolidated financial statements, for a rollforward of the components of the allowances as of December 31, 2019 and June 30, 2020. Refer to the Recently Adopted Accounting Standard section for the adoption of ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments—Credit Losses for discussion of financial assets measured at amortized cost, including trade receivables.The Company includes unbilled receivables in its accounts receivable balance. Generally, these receivables represent services provided to customers, which will be billed in the next billing cycle. All amounts are considered collectible and billable.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that are exposed to concentration of credit risk consist primarily of cash and cash equivalents, marketable securities, other investments and trade accounts receivable. Cash deposits may be in excess of insured limits. The Company believes that the financial institutions that hold its cash deposits are financially sound and, accordingly, minimal credit risk exists with respect to these balances. With regard to customers, credit evaluation and account monitoring procedures are used to minimize the risk of loss. The Company believes that no additional credit risk beyond amounts provided for by the allowance for doubtful accounts are inherent in accounts receivable.
Deferred Revenue and Customer Deposits	Deferred Revenue and Customer DepositsDeferred revenue is recorded when cash payments are received in advance of future usage on contracts. Revenue is typically recognized in the following month as services are rendered or, in the case of nonrefundable upfront fees, over the estimated period of benefit from the date the fee is incurred by the customer.
Recently Adopted Accounting Standards and Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Standards In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. This standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. ASU 2018-15 is effective for interim and annual reporting periods beginning after December 15, 2019. As a result of the Company’s prospective adoption of this standard, the Company capitalized implementation costs related to cloud computing arrangements of $432 as of June 30, 2020. See Note 6, “Property and Equipment” to these condensed consolidated financial statements, for additional details. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement, which eliminates certain disclosure requirements for fair value measurements for all entities, requires public entities to disclose certain new information and modifies some disclosure requirements. ASU 2018-13 is effective for interim and annual reporting periods beginning after December 15, 2019 and for interim periods within those fiscal years. The adoption of this standard did not have a material impact on the Company’s financial statements. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, which simplifies the accounting for goodwill impairment. The ASU removes the second step of the goodwill impairment test that requires a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. ASU 2017-04 is effective for interim and annual reporting periods beginning after December 15, 2019. The adoption of this standard did not have a material impact on the Company’s financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments–Credit Losses: Measurement of Credit Losses on Financial Instruments, which changes the impairment model for most financial assets. The new model uses a forward-looking expected loss method, which will generally result in earlier recognition of allowances for losses. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, which clarifies that receivables arising from operating leases are not within the scope of Topic 326, Financial Instruments – Credit Losses. Instead, impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842, Leases. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments, which clarifies how to apply certain aspects of the new credit losses standard. In November 2019, the FASB issued ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates, which amends certain effective dates for the new standard. In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, which clarifies how to apply certain aspects of the new credit losses standard. The accounting standard is effective for annual and interim periods beginning after December 15, 2019. The Company adopted this standard for financial assets measured at amortized cost, including trade receivables. Results for the reporting periods beginning after January 1, 2020 are presented under ASC 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP. The adoption of this standard did not have a material impact on the Company’s financial statements. Recent Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted, including adoption in an interim period. The Company is evaluating the effect of adopting this new accounting guidance, but does not expect adoption will have a material impact on its financial statements.

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on a Recurring Basis

The following table summarizes the assets measured at fair value as of December 31, 2019 and June 30, 2020:


	Fair value measurements on a recurring basis December 31, 2019
			Level 1			Level 2			Level 3			Total
Financial assets:
Cash and cash equivalents:
Money market account	$	25,000		$	—		$	—		$	25,000
Time deposits	75,250			—			—			75,250










Total financial assets	$	100,250		$	—		$	—		$	100,250


	Fair value measurements on a recurring basis June 30, 2020
			Level 1		Level 2		Level 3		Total
Financial assets:
Cash and cash equivalents:
Money market account	$	233,333	$	—	$	—	$	233,333
Time deposits	25,195		—		—		25,195


Total included in cash and cash equivalents	258,528		—		—		258,528




Other investments:
Time deposits	230,780		—		—		230,780

Total financial assets	$	489,308	$	—	$	—	$	489,308

Financial Statement Components (Tables)

6 Months Ended

Jun. 30, 2020

Financial Statement Components [Abstract]

Schedule of Accounts Receivable, net, and Allowance for Doubtful Accounts

Accounts receivable, net of allowances consist of the following:


	As of December 31,		As of June 30,
	2019		2020
Trade accounts receivable	$	14,692	$	19,122
Unbilled accounts receivable	16,200		22,658
Allowance for doubtful accounts and reserve for expected credit losses	(769)		(597)
Other accounts receivable	64		596
Total accounts receivable, net	$	30,187	$	41,779

Components of allowance for doubtful accounts and reserve for expected credit losses are as follows:


	Three months ended June 30,						Six months ended June 30,
	2019		2020		2019		2020
Balance, beginning of period	$	(1,018)	$	(883)	$	(906)	$	(769)
Charged to bad debt expense	(284)		9		(416)		(180)
Deductions (1)	209		277		229		352



Balance, end of period	$	(1,093)	$	(597)	$	(1,093)	$	(597)

________________________

(1) Write off of uncollectible accounts after all collection efforts have been exhausted.

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	As of December 31,		As of June 30,
	2019		2020
Accrued expense	$	12,701	$	15,578
Accrued compensation and benefits	8,284		7,789
Accrued sales, use, and telecom related taxes	5,439		5,633

Other accrued expenses	904		405
Total accrued expenses and other current liabilities	$	27,328	$	29,405

Right-of-Use Asset and Lease Liabilities (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Schedule of Future Minimum Lease Receipts for Operating Lease

Future minimum sub-lease receipts required under the non-cancellable lease are as follows:


	As of June 30,
	2020
2020 (remaining)	$	225
2021	457
2022	249


	$	931

Components of Lease Expense

The components of lease expense recorded in the condensed consolidated statement of operations were as follows:


	Three months ended June 30,						Six months ended June 30,
	2019		2020		2019			2020
Operating lease cost	$	1,434	$	1,461	$	2,653		$	2,922





Sublease income (1)	(200)		(96)		(451)			(192)
Total net lease cost	$	1,234	$	1,365	$	2,202		$	2,730

________________________

(1) See Note 15, “Related Parties” to these condensed consolidated financial statements, for additional details on sublease income.

Supplemental cash flow and other information related to leases was as follows:


	Six months ended June 30,
	2019			2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	1,714		$	2,612




Weighted average remaining operating lease term (in years)	4.76			3.88



Weighted average operating lease discount rate	5.00		%	4.99		%

Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases was as follows:


		As of December 31,				As of June 30,
Leases	Classification	2019				2020
Assets:
Operating lease assets	Operating ROU asset, net of accumulated amortization (1)	$	21,031			$	18,699

Total leased assets				$	21,031			$	18,699

Liabilities:
Current
Operating	Operating lease liability, current	$	4,876			$	5,067

Non-current
Operating	Operating lease liability, non-current	19,868				17,065

Total lease liabilities				$	24,744			$	22,132

________________________

(1) Operating lease assets are recorded net of accumulated amortization of $4,269 and $6,601 as of December 31, 2019 and June 30, 2020, respectively.

Schedule of Maturities of Lease Liabilities

Maturities of operating lease liabilities were as follows:


	As of June 30,
	2020
2020 (remaining)	$	2,705
2021	6,587
2022	6,302
2023	5,926
2024	1,987
2025	949

Total lease payments	24,456
Less: imputed interest	(2,304)
Less: accrued lease incentive	(20)
Total lease obligations	22,132
Less: current obligations	(5,067)
Long-term lease obligations	$	17,065

Property and Equipment (Tables)

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Summary of Property and Equipment, Net

Property and equipment, net consisted of the following:


	As of December 31,		As of June 30,
	2019		2020
Furniture and fixtures	$	2,373	$	2,388
Computer and office equipment	4,627		4,764
Telecommunications equipment	44,324		50,431
Leasehold improvements	5,263		5,846
Software	2,018		2,427
Internal-use software development	17,952		19,183
Automobile	10		10
Total cost	76,567		85,049
Less—accumulated depreciation	(34,913)		(41,279)
Total property and equipment, net	$	41,654	$	43,770

Schedule of Depreciation Expense

The Company recognized depreciation expense, which includes amortization of capitalized software development costs, as follows:


	Three months ended June 30,						Six months ended June 30,
	2019		2020		2019		2020
Cost of revenue	$	1,530	$	2,340	$	2,823	$	4,674
Research and development	63		129		131		244
Sales and marketing	24		31		52		60
General and administrative	365		712		1,055		1,402
Total depreciation expense	$	1,982	$	3,212	$	4,061	$	6,380

Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Intangible assets, net consisted of the following as of December 31, 2019:


	Gross Amount		Accumulated Amortization		Net Carrying Value		Amortization Period
							(Years)
Customer relationships	$	10,396	$	(4,591)	$	5,805	20




Other, definite lived	3,933		(3,933)		—		2 - 7
Licenses, indefinite lived	764		—		764		Indefinite
Total intangible assets, net	$	15,093	$	(8,524)	$	6,569

Intangible assets, net consisted of the following as of June 30, 2020:


	Gross Amount		Accumulated Amortization		Net Carrying Value		Amortization Period
							(Years)
Customer relationships	$	10,396	$	(4,851)	$	5,545	20




Other, definite lived	3,933		(3,933)		—		2 - 7
Licenses, indefinite lived	764		—		764		Indefinite
Total intangible assets, net	$	15,093	$	(8,784)	$	6,309

Schedule of Future Estimated Amortization Expense

Future estimated amortization expense for definite lived intangible assets is as follows:


	As of June 30,
	2020
2020 (remaining)	$	260
2021	520
2022	520
2023	520
2024	520


Thereafter	3,205
	$	5,545

Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Net Carrying Amount of Liability and Equity Component of Notes

The net carrying amount of the liability component of the Convertible Notes was as follows:


	As of June 30,
	2020
Principal	$	400,000
Unamortized discount	(119,269)
Unamortized debt issuance costs	(7,830)
Net carrying amount	$	272,901

The net carrying amount of the equity component of the Convertible Notes was as follows:


	As of June 30,
	2020
Proceeds allocated to the conversion options (debt discount)	$	125,160
Issuance costs	(3,742)
Net carrying amount	$	121,418

Interest Income and Interest Expense Disclosure

The following table sets forth the interest expense recognized related to the Convertible Notes:


	Three months ended June 30,		Six months ended June 30,
	2020		2020
Contractual interest expense	$	249	$	345
Amortization of debt issuance costs	4,262		5,891
Amortization of debt discount	280		386
Total interest expense related to the Convertible Notes	$	4,791	$	6,622

Segment and Geographic Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment


	Three months ended June 30,						Six months ended June 30,
	2019		2020		2019		2020
CPaaS
Revenue	$	47,989	$	67,076	$	93,002	$	126,197
Cost of revenue	26,473		37,229		51,773		69,121
Gross profit	$	21,516	$	29,847	$	41,229	$	57,076
Other
Revenue	$	8,790	$	9,714	$	17,098	$	19,111
Cost of revenue	3,637		4,780		7,103		9,247
Gross profit	$	5,153	$	4,934	$	9,995	$	9,864
Consolidated
Revenue	$	56,779	$	76,790	$	110,100	$	145,308
Cost of revenue	30,110		42,009		58,876		78,368
Gross profit	$	26,669	$	34,781	$	51,224	$	66,940

Schedule of Revenue by Geographical Area

The Company generates its revenue primarily in the United States. Revenue by geographic area is detailed in the table below (which is determined based on the customer billing address):


	Three months ended June 30,						Six months ended June 30,
	2019		2020		2019		2020
CPaaS
United States	$	47,907	$	65,207	$	92,851	$	122,605
International	82		1,869		151		3,592
Total	$	47,989	$	67,076	$	93,002	$	126,197

Other
United States	$	8,722	$	9,418	$	16,951	$	18,543
International	68		296		147		568
Total	$	8,790	$	9,714	$	17,098	$	19,111

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Schedule of Reserved Shares of Common Stock for Issuance

The Company had reserved shares of Class A common stock for issuance under stock-based award agreements as follows:


	As of December 31,	As of June 30,
	2019	2020
Stock options issued and outstanding	853,399	313,956
Nonvested restricted stock units issued and outstanding	392,351	468,797
Stock-based awards available for grant under the 2017 Plan	1,310,354	2,037,531
	2,556,104	2,820,284

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65888546&loc=d3e21300-112643

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+ Details

Stock Based Compensation (Tables)

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following summarizes the stock option activity for the periods presented:


	Number of options outstanding	Weighted- average exercise price (per share)		Weighted- average remaining contract life (in years)	Aggregate intrinsic value (in thousands)
Outstanding as of December 31, 2019	853,399	$	8.07	3.41	$	47,770
Granted	—	—
Exercised	(534,241)	6.63			45,248
Forfeited or cancelled	(5,202)	10.31
Outstanding as of June 30, 2020	313,956	$	10.50	4.86	$	36,577

Options vested and exercisable at June 30, 2020	240,354	$	8.96	4.22	$	28,372
Options vested and expected to vest as of June 30, 2020	313,458	$	10.49	4.86	$	36,521

Summary of Restricted Stock Unit Activity

The following summarizes the RSU activity for the periods presented:


	Number of awards outstanding	Weighted-average grant date fair value (per share)
Nonvested RSUs as of December 31, 2019	392,351	$	35.22
Granted	211,260	64.55
Vested	(125,695)	39.20
Forfeited or cancelled	(9,119)	46.55
Nonvested RSUs as of June 30, 2020	468,797	$	47.15

Schedule of Stock-Based Compensation Expense

The Company recognized total stock-based compensation expense as follows:


	Three months ended June 30,						Six months ended June 30,
	2019		2020		2019		2020
Cost of revenue	$	50	$	(60)	$	106	$	115
Research and development	358		620		730		1,073
Sales and marketing	292		376		612		771
General and administrative	930		1,489		1,858		2,965
Total	$	1,630	$	2,425	$	3,306	$	4,924

Basic and Diluted Income per Common Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The components of basic and diluted income (loss) per share are as follows:


	Three months ended June 30,						Six months ended June 30,
	2019		2020		2019		2020



Net income (loss) attributable to common stockholders	$	3,472	$	(20,641)	$	5,464	$	(21,699)
Net income (loss) per share:
Basic	$	0.15	$	(0.86)	$	0.25	$	(0.91)
Diluted	$	0.14	$	(0.86)	$	0.23	$	(0.91)














Weighted Average Number of Common Shares Outstanding
Basic	23,102,553		23,973,663		21,807,523		23,768,616
Dilutive effect of stock options and restricted stock units	1,344,864		—		1,454,973		—
Diluted	24,447,417		23,973,663		23,262,496		23,768,616

Organization and Description of Business (Details)	6 Months Ended
Organization and Description of Business (Details)	Jun. 30, 2020 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	2
Number of reportable segments	2

Summary of Significant Accounting Policies - Use of Estimates and Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jan. 01, 2020	Dec. 31, 2019
Change in Accounting Estimate [Line Items]
Revenue	$ 76,790	$ 56,779	$ 145,308	$ 110,100
Cost of revenue	$ 42,009	$ 30,110	$ 78,368	$ 58,876
RRAs collateralized by deposits in form of Government Securities and Obligations as percentage of value	102.00%		102.00%
Estimated period of benefit for nonrefundable upfront fees
Change in Accounting Estimate [Line Items]
Revenue	$ 437		$ 876
Cost of revenue	$ 247		$ 566
Estimated period of benefit for nonrefundable upfront fees \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Change in Accounting Estimate [Line Items]
Revenue, remaining performance obligation, amount, expected timing of satisfaction, period					4 years	3 years

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Summary of Significant Accounting Policies - Accounts Receivable and Current Expected Credit Losses and Concentration of Credit Risk and Deferred Revenue and Customer Deposits (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 597	$ 597	$ 769
Unbilled accounts receivable	22,658	22,658	$ 16,200
Concentration Risk [Line Items]
Revenue recognized related to its contract liabilities	846	1,932
Advanced billings expected to be recognized in the next 12 months	$ 5,236	$ 5,236
Customer One \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage		11.00%
Customer One \| Revenue
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	10.00%

Summary of Significant Accounting Policies - Recently Adopted Accounting Standards (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201815Member	us-gaap:AccountingStandardsUpdate201409Member
ASU 2018-15
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Capitalized implementation costs related to cloud computing arrangements	$ 432

- Definition

Indicates amendment to accounting standards.

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+ Details

Fair Value Measurements - Assets Measured at Fair Value (Details) - Fair value measurements on a recurring basis - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Money market account
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 233,333	$ 25,000
Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	25,195	75,250
Investments, Fair Value Disclosure	230,780
Total included in cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	258,528
Financial assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	489,308	100,250
Level 1 \| Money market account
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	233,333	25,000
Level 1 \| Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	25,195	75,250
Investments, Fair Value Disclosure	230,780
Level 1 \| Total included in cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	258,528
Level 1 \| Financial assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	489,308	100,250
Level 2 \| Money market account
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Level 2 \| Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Investments, Fair Value Disclosure	0
Level 2 \| Total included in cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0
Level 2 \| Financial assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	0	0
Level 3 \| Money market account
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Level 3 \| Time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Investments, Fair Value Disclosure	0
Level 3 \| Total included in cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0
Level 3 \| Financial assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total financial assets	$ 0	$ 0

Fair Value Measurements - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Debt Instrument [Line Items]
Maturities of marketable securities		$ 9,000,000		$ 18,000,000
Interest earned on marketable securities	$ 0	$ 3,000	$ 0	$ 6,000
Convertible notes \| 0.25% convertible senior notes due 2026
Debt Instrument [Line Items]
Fair value	$ 598,500,000		$ 598,500,000

Financial Statement Components - Accounts Receivable, Net of Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financial Statement Components [Abstract]
Trade accounts receivable	$ 19,122	$ 14,692
Unbilled accounts receivable	22,658	16,200
Allowance for doubtful accounts and reserve for expected credit losses	(597)	(769)
Other accounts receivable	596	64
Total accounts receivable, net	$ 41,779	$ 30,187

Financial Statement Components - Allowance For Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance, beginning of period	$ (883)	$ (1,018)	$ (769)	$ (906)
Balance, end of period	(597)	(1,093)	(597)	(1,093)
Accounts Receivable, Excluding Carrier Access Billing (CAB)
Allowance for Doubtful Accounts Receivable [Roll Forward]
Charged to bad debt expense	9	(284)	(180)	(416)
Deductions	$ 277	$ 209	$ 352	$ 229

Financial Statement Components - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financial Statement Components [Abstract]
Accrued expense	$ 15,578	$ 12,701
Accrued compensation and benefits	7,789	8,284
Accrued sales, use, and telecom related taxes	5,633	5,439
Other accrued expenses	405	904
Total accrued expenses and other current liabilities	$ 29,405	$ 27,328

Right-of-Use Asset and Lease Liabilities - Additional Information (Details)	6 Months Ended
	Jun. 30, 2020 ft² property
Lessee, Lease, Description [Line Items]
Office space (in square foot) \| ft²	17,073
Number of leased properties \| property	6
Option to extend, term	5 years
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	2 years 29 days
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	5 years 2 months 1 day

Right-of-Use Asset and Lease Liabilities - Future Minimum Sub-lease Receipts (Details) $ in Thousands	Jun. 30, 2020 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2020 (remaining)	$ 225
2021	457
2022	249
Total	$ 931

Right-of-Use Asset and Lease Liabilities - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Operating lease cost	$ 1,461	$ 1,434	$ 2,922	$ 2,653
Sublease income	(96)	(200)	(192)	(451)
Total net lease cost	$ 1,365	$ 1,234	$ 2,730	$ 2,202

Right-of-Use Asset and Lease Liabilities - Assets And Liabilities, Lessee (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Operating right-of-use asset, net of accumulated amortization	$ 18,699	$ 21,031
Operating lease liability, current	5,067	4,876
Long-term lease obligations	17,065	19,868
Total lease liabilities	22,132	24,744
Accumulated amortization	$ 6,601	$ 4,269

Right-of-Use Asset and Lease Liabilities - Supplemental Cash Flow and Other Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 2,612	$ 1,714
Weighted average remaining operating lease term (in years)	3 years 10 months 17 days	4 years 9 months 3 days
Weighted average operating lease discount rate	4.99%	5.00%

Right-of-Use Asset and Lease Liabilities - Schedule of Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Leases [Abstract]
2020 (remaining)	$ 2,705
2021	6,587
2022	6,302
2023	5,926
2024	1,987
2025	949
Total lease payments	24,456
Less: imputed interest	(2,304)
Less: accrued lease incentive	(20)
Total lease liabilities	22,132	$ 24,744
Less: current obligations	(5,067)	(4,876)
Long-term lease obligations	$ 17,065	$ 19,868

Property and Equipment - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total cost	$ 85,049	$ 76,567
Less—accumulated depreciation	(41,279)	(34,913)
Total property and equipment, net	43,770	41,654
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total cost	2,388	2,373
Computer and office equipment
Property, Plant and Equipment [Line Items]
Total cost	4,764	4,627
Telecommunications equipment
Property, Plant and Equipment [Line Items]
Total cost	50,431	44,324
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total cost	5,846	5,263
Software
Property, Plant and Equipment [Line Items]
Total cost	2,427	2,018
Internal-use software development
Property, Plant and Equipment [Line Items]
Total cost	19,183	17,952
Automobile
Property, Plant and Equipment [Line Items]
Total cost	$ 10	$ 10

Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Capitalized software development costs, additions	$ 708	$ 1,080	$ 1,498	$ 1,675
Amortization of capitalized software development costs	588	$ 384	1,170	$ 1,173
ASU 2018-15
Property, Plant and Equipment [Line Items]
Capitalized implementation costs related to cloud computing arrangements	432		432
Prepaid expenses and other current assets
Property, Plant and Equipment [Line Items]
Capitalized implementation costs related to cloud computing arrangements	104		104
Other long-term assets
Property, Plant and Equipment [Line Items]
Capitalized implementation costs related to cloud computing arrangements	$ 328		$ 328

Property and Equipment - Depreciation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Depreciation Expense [Line Items]
Total depreciation expense	$ 3,212	$ 1,982	$ 6,380	$ 4,061
Cost of revenue
Depreciation Expense [Line Items]
Total depreciation expense	2,340	1,530	4,674	2,823
Research and development
Depreciation Expense [Line Items]
Total depreciation expense	129	63	244	131
Sales and marketing
Depreciation Expense [Line Items]
Total depreciation expense	31	24	60	52
General and administrative
Depreciation Expense [Line Items]
Total depreciation expense	$ 712	$ 365	$ 1,402	$ 1,055

Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (8,784)	$ (8,524)
Finite-lived intangible assets, net	5,545
Gross amount	15,093	15,093
Net carrying value	6,309	6,569
Licenses
Indefinite-lived Intangible Assets [Line Items]
Licenses, indefinite lived	764	764
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	10,396	10,396
Accumulated amortization	(4,851)	(4,591)
Finite-lived intangible assets, net	$ 5,545	$ 5,805
Amortization period	20 years	20 years
Other, definite lived
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 3,933	$ 3,933
Accumulated amortization	(3,933)	(3,933)
Finite-lived intangible assets, net	$ 0	$ 0
Other, definite lived \| Minimum
Finite-Lived Intangible Assets [Line Items]
Amortization period	2 years	2 years
Other, definite lived \| Maximum
Finite-Lived Intangible Assets [Line Items]
Amortization period	7 years	7 years

Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 130	$ 130	$ 260	$ 260
Weighted average amortization period			11 years

Intangible Assets - Future Estimated Amortization Expense (Details) $ in Thousands	Jun. 30, 2020 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020 (remaining)	$ 260
2021	520
2022	520
2023	520
2024	520
Thereafter	3,205
Finite-lived intangible assets, net	$ 5,545

Debt - Additional Information (Details)		6 Months Ended
Debt - Additional Information (Details)	Feb. 28, 2020 USD ($) segment d $ / shares shares	Jun. 30, 2020 USD ($) $ / shares	Dec. 31, 2019 USD ($) $ / shares
Debt Instrument [Line Items]
Unamortized debt issuance costs		$ 96,000	$ 125,000
Debt outstanding		272,901,000
Principal		400,000,000
Total net proceeds	$ 344,757,000
Conversion price (usd per share) \| $ / shares	$ 91.03
Cash redemption price, percent	100.00%
Conversion option	$ 125,160,000	125,160,000
Effective interest rate	6.763%
Carrying amount of equity component	$ 57,491,000
Annual effective interest rate	6.805%
Issuance costs attributable to the liability component	$ 8,217,000
Issuance costs		$ (3,742,000)
Net cost of capped call purchase	$ 43,320,000
Conversion option 1
Debt Instrument [Line Items]
Trading days \| d	20
Consecutive trading days \| d	30
Conversion option 2
Debt Instrument [Line Items]
Consecutive trading days \| segment	10
Consecutive business days \| segment	5
Common Class A
Debt Instrument [Line Items]
Conversion ratio	10.9857
Common stock, par value (in usd per share) \| $ / shares	$ 0.001	$ 0.001	$ 0.001
Capped call shares (in shares) \| shares	4,394,276
Common Class A \| Conversion option 1
Debt Instrument [Line Items]
Stock price trigger percent	130.00%
Common Class A \| Conversion option 2
Debt Instrument [Line Items]
Stock price trigger percent	98.00%
Convertible notes \| 0.25% convertible senior notes due 2026
Debt Instrument [Line Items]
Principal	$ 400,000,000
Stated rate	0.25%
Convertible notes \| Capped call portion of 0.25% convertible senior notes due 2026
Debt Instrument [Line Items]
Conversion price (usd per share) \| $ / shares	$ 91.03
Convertible notes \| Capped call portion of 0.25% convertible senior notes due 2026 \| Maximum
Debt Instrument [Line Items]
Conversion price (usd per share) \| $ / shares	$ 137.40
Revolving Credit Facility
Debt Instrument [Line Items]
Debt outstanding		$ 0	$ 0
Available borrowing capacity		25,000,000
Prepaid Expenses and Other Current Assets
Debt Instrument [Line Items]
Unamortized debt issuance costs		62,000	70,000
Noncurrent assets
Debt Instrument [Line Items]
Unamortized debt issuance costs		$ 34,000	$ 55,000

Debt - Schedule of Debt (Details) - USD ($)		6 Months Ended
Debt - Schedule of Debt (Details) - USD ($)	Feb. 28, 2020	Jun. 30, 2020
Debt Disclosure [Abstract]
Principal		$ 400,000,000
Unamortized discount		(119,269,000)
Unamortized debt issuance costs		(7,830,000)
Net carrying amount		272,901,000
Proceeds allocated to the conversion options (debt discount)	$ 125,160,000	125,160,000
Issuance costs		(3,742,000)
Net carrying amount		$ 121,418,000

Debt - Interest Income and Interest Expense Disclosure (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Debt Disclosure [Abstract]
Contractual interest expense	$ 249	$ 345
Amortization of debt issuance costs	4,262	5,891
Amortization of debt discount	280	386
Total interest expense related to the Convertible Notes	$ 4,791	$ 6,622

Segment and Geographic Information - Reconciliation of Segment Profit (Loss) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2020 USD ($) segment	Jun. 30, 2019 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment			2
Segment Reporting Information [Line Items]
Revenue	$ 76,790	$ 56,779	$ 145,308	$ 110,100
Cost of revenue	42,009	30,110	78,368	58,876
Gross profit	34,781	26,669	66,940	51,224
CPaaS
Segment Reporting Information [Line Items]
Revenue	67,076	47,989	126,197	93,002
Cost of revenue	37,229	26,473	69,121	51,773
Gross profit	29,847	21,516	57,076	41,229
Other
Segment Reporting Information [Line Items]
Revenue	9,714	8,790	19,111	17,098
Cost of revenue	4,780	3,637	9,247	7,103
Gross profit	$ 4,934	$ 5,153	$ 9,864	$ 9,995

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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Segment and Geographic Information - Reconciliation of Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Assets	$ 657,957		$ 657,957		$ 341,416
Revenue	76,790	$ 56,779	145,308	$ 110,100
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Assets	2,321		2,321		$ 2,924
CPaaS
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	67,076	47,989	126,197	93,002
CPaaS \| United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	65,207	47,907	122,605	92,851
CPaaS \| International
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	1,869	82	3,592	151
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	9,714	8,790	19,111	17,098
Other \| United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	9,418	8,722	18,543	16,951
Other \| International
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 296	$ 68	$ 568	$ 147

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Stockholders' Equity - Preferred Stock (Details) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Equity [Abstract]
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock, shares issued (in shares)	0	0
Preferred A stock, shares outstanding (in shares)	0	0

Stockholders' Equity - Common Stock (Details)	Jun. 30, 2020 vote $ / shares shares	Feb. 28, 2020 $ / shares	Dec. 31, 2019 vote $ / shares shares
Common Class A
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	100,000,000		100,000,000
Common stock, par value (in usd per share) \| $ / shares	$ 0.001	$ 0.001	$ 0.001
Common stock voting rights, votes per share \| vote	1		1
Common stock, shares issued (in shares)	20,555,717		18,584,478
Common stock, shares outstanding (in shares)	20,555,717		18,584,478
Common Class B
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	20,000,000		20,000,000
Common stock, par value (in usd per share) \| $ / shares	$ 0.001		$ 0.001
Common stock voting rights, votes per share \| vote	10		10
Common stock, shares issued (in shares)	3,599,554		4,927,401
Common stock, shares outstanding (in shares)	3,599,554		4,927,401

Stockholders' Equity - Reserved Shares of Common Stock for Issuance (Details) - shares	Jun. 30, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	2,820,284	2,556,104
StockOptionsIssuedandOutstandingMember
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	313,956	853,399
Stock-based awards available for grant under the 2017 Plan
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	468,797	392,351
Stock-based awards available for grant under the 2017 Plan
Class of Stock [Line Items]
Common stock reserved for future issuance (in shares)	2,037,531	1,310,354

Stock Based Compensation - Additional Information (Details) - USD ($) $ in Thousands			3 Months Ended		6 Months Ended
	Jan. 01, 2020	Jan. 01, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Nov. 09, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)			2,820,284		2,820,284		2,556,104
Estimated grant date fair value of options vested			$ 83	$ 223	$ 129	$ 280
Unrecognized cost for stock based compensation			305		305
Unrecognized compensation cost related to non-vested RSUs			$ 19,758		$ 19,758
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized cost for stock based compensation, period for recognition (in years)					1 year 21 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)			468,797		468,797		392,351
Vesting percentage					25.00%
Share-based compensation arrangement, requisite service period					4 years
Unrecognized cost for stock based compensation, period for recognition (in years)					2 years 11 months 1 day
Restricted Stock Units (RSUs) \| Non-employee Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)					4 years
Restricted Stock Units (RSUs) \| Non-employee Board of Directors \| Year one vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					50.00%
Restricted Stock Units (RSUs) \| Non-employee Board of Directors \| First quarter vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					12.50%
Restricted Stock Units (RSUs) \| Non-employee Board of Directors \| Second quarter vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					12.50%
Restricted Stock Units (RSUs) \| Non-employee Board of Directors \| Third quarter vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					12.50%
Restricted Stock Units (RSUs) \| Non-employee Board of Directors \| Forth quarter vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					12.50%
Restricted Stock Units (RSUs) \| Non-employee Board of Directors \| Year two, three and four vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					50.00%
2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)								1,050,000
Common stock reserved for future issuance, percent increase		5.00%
Increase in shares available for grant (in shares)	929,224
2017 Plan \| Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)					4 years
Contractual life (in years)					10 years

Stock Based Compensation - Stock Option Activity (Details) - Employee Stock Option - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Number of options outstanding
Number of options outstanding, beginning balance (in shares)	853,399
Number of options, granted (in shares)	0
Number of options exercised (in shares)	(534,241)
Number of options, forfeited or cancelled (in shares)	(5,202)
Number of options outstanding, ending balance (in shares)	313,956	853,399
Options vested and exercisable (in shares)	240,354
Options vested and expected to vest (in shares)	313,458
Weighted- average exercise price (per share)
Weighted-average exercise price, beginning balance (in usd per share)	$ 8.07
Weighted-average exercise price, granted (in usd per share)	0
Weighted-average exercise price, exercised (in usd per share)	6.63
Weighted-average exercise price, forfeited or cancelled (in usd per share)	10.31
Weighted-average exercise price, ending balance (in usd per share)	10.50	$ 8.07
Weighted-average exercise price, options vested and exercisable (in usd per share)	8.96
Weighted average exercise price, options vested and expected to vest (in usd per share)	$ 10.49
Weighted-average remaining contract life, options outstanding (in years)	4 years 10 months 9 days	3 years 4 months 28 days
Weighted-average remaining contract life, options vested and exercisable (in years)	4 years 2 months 19 days
Weighted average remaining contract life, options vested and expected to vest	4 years 10 months 9 days
Aggregate intrinsic value, options outstanding	$ 36,577	$ 47,770
Aggregate intrinsic value, options exercised	45,248
Aggregate intrinsic value, options vested and exercisable	28,372
Aggregate intrinsic value, options vested and expected to vest	$ 36,521

Stock Based Compensation - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs)	6 Months Ended
	Jun. 30, 2020 $ / shares shares
Number of awards outstanding
Number of nonvested RSUs outstanding, beginning balance (in shares) \| shares	392,351
Number of nonvested RSUs, granted (in shares) \| shares	211,260
Number of nonvested RSUs, vested (in shares) \| shares	(125,695)
Number of nonvested RSUs, forfeited or cancelled (in shares) \| shares	(9,119)
Number of nonvested RSUs outstanding, ending balance (in shares) \| shares	468,797
Weighted-average grant date fair value (per share)
Weighted-average grant date fair value, beginning balance (in usd per share) \| $ / shares	$ 35.22
Weighted average grant-date fair value of nonvested RSUs, granted (in usd per share) \| $ / shares	64.55
Weighted-average grant date fair value of nonvested RSUs, vested (in usd per share) \| $ / shares	39.20
Weighted-average grant date fair value of nonvested restricted RSUs, forfeited or cancelled (in usd per share) \| $ / shares	46.55
Weighted-average grant date fair value, ending balance (in usd per share) \| $ / shares	$ 47.15

Stock Based Compensation - Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 2,425	$ 1,630	$ 4,924	$ 3,306
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	(60)	50	115	106
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	620	358	1,073	730
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	376	292	771	612
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 1,489	$ 930	$ 2,965	$ 1,858

Commitments and Contingencies - Additional Information (Details) $ in Thousands	Jun. 15, 2020 USD ($) a	May 16, 2020 USD ($) a	Oct. 25, 2015 USD ($)	Jun. 30, 2020 USD ($)
Lessee, Lease, Description [Line Items]
Service agreement, annual minimum commitments			$ 1,200
Service agreement, term of agreement (in years)			5 years
Non-cancellable purchase obligation				$ 9,983
Non-cancellable purchase obligation, fulfilled within a year				$ 5,516
Land (acres) \| a	40	40
Reimbursement of predevelopment work expenses, percent		50.00%
Maximum reimbursement of predevelopment work expenses		$ 318
Authorized
Lessee, Lease, Description [Line Items]
Consideration for the proposed Land purchase	$ 30,000
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term				5 years 2 months 1 day

Employee Benefit Plan (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Employee Benefit Plan (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Retirement Benefits [Abstract]
Matching contributions	$ 475	$ 373	$ 1,109	$ 886

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	(399.10%)	213.70%	(173.80%)	162.80%
Increase in valuation allowance	$ 14,173

Related Parties (Details) - USD ($)		3 Months Ended		6 Months Ended
Related Parties (Details) - USD ($)	Jun. 20, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Rental payments received		$ (96,000)	$ (200,000)	$ (192,000)	$ (451,000)
Affiliated Entity \| Republic
Related Party Transaction [Line Items]
Amount collected on behalf		241,000	714,000	549,000	1,327,000
Affiliated Entity \| Republic \| Facilities Sharing Agreement
Related Party Transaction [Line Items]
Rental payments received		(96,000)	(200,000)	(192,000)	(451,000)
Due from related parties		0		0		$ 0
Affiliated Entity \| Republic \| Tax Sharing Agreement
Related Party Transaction [Line Items]
Due from related parties		0		0		0
Affiliated Entity \| Republic \| Master Services Agreement
Related Party Transaction [Line Items]
Revenue from related parties		583,000	$ 677,000	1,116,000	$ 1,569,000
Accounts receivable, related parties		192,000		192,000		161,000
Minimum monthly revenue expected from related party	$ 100,000
Minimum monthly revenue expected from related party, period	11 months
Affiliated Entity \| Republic \| Services Agreement
Related Party Transaction [Line Items]
Revenue from related parties		16,000		47,000
Accounts receivable, related parties		$ 5,000		$ 5,000		$ 10,000

Basic and Diluted Income (Loss) per Common Share - Components of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net income (loss) attributable to common stockholders	$ (20,641)	$ 3,472	$ (21,699)	$ 5,464
Net income (loss) per share:
Basic (in usd per share)	$ (0.86)	$ 0.15	$ (0.91)	$ 0.25
Diluted (in usd per share)	$ (0.86)	$ 0.14	$ (0.91)	$ 0.23
Weighted Average Number of Common Shares Outstanding
Basic (in shares)	23,973,663	23,102,553	23,768,616	21,807,523
Dilutive effect of stock options, restricted stock units, and warrants (in shares)	0	1,344,864	0	1,454,973
Diluted (in shares)	23,973,663	24,447,417	23,768,616	23,262,496

- Definition

The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

Basic and Diluted Income (Loss) per Common Share - Schedule of Antidilutive Common Share Equivalents Excluded from Earnings Per Share (Details)	6 Months Ended
	Jun. 30, 2020 shares
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	313,956
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	468,797