10-Q Filing

Everpure, Inc. CIK: 1474432 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001564590-16-020289`
Period End Date	20160430
Filing Date	20160603
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	pstg-20160430.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 36 Cash Flow Statement 60 Comprehensive Income 6

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$286.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$604.74M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$173.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$192.71M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	-	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$320.90M	USD	Point-in-time
Accounts receivable, net of allowance of $944 and $1,509 as of January 31, 2016 and April 30, 2016	`AccountsReceivableNetCurrent`	$97.16M	USD	Point-in-time
Accounts receivable, net of allowance of $944 and $1,509 as of January 31, 2016 and April 30, 2016	`AccountsReceivableNetCurrent`	$126.32M	USD	Point-in-time
Inventory	`InventoryNet`	$20.65M	USD	Point-in-time
Inventory	`InventoryNet`	$21.98M	USD	Point-in-time
Accounts receivable, net of allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$944.00K	USD	Point-in-time
Accounts receivable, net of allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.51M	USD	Point-in-time
Deferred commissions, current	`DeferredCommissionsCurrent`	$12.14M	USD	Point-in-time
Deferred commissions, current	`DeferredCommissionsCurrent`	$15.70M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$20.65M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$23.15M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$761.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$788.07M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$71.25M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$52.63M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$6.98M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$6.65M	USD	Point-in-time
Deferred income taxes, non-current	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$605.00K	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred income taxes, non-current	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$536.00K	USD	Point-in-time
Common stock, par value per share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.25B	shares	Point-in-time
Other assets, non-current	`OtherAssetsNoncurrent`	$22.57M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	2.25B	shares	Point-in-time
Other assets, non-current	`OtherAssetsNoncurrent`	$21.53M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	190.51M	shares	Point-in-time
Total assets	`Assets`	$861.48M	USD	Point-in-time
Total assets	`Assets`	$870.78M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	194.12M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	190.51M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	194.12M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$38.19M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$42.44M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$18.56M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$32.99M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesCurrent`	$15.97M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesCurrent`	$14.08M	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$107.22M	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$94.51M	USD	Point-in-time
Liability related to early exercised stock options	`LiabilityRelatedToEarlyExercisedStockOptions`	$4.76M	USD	Point-in-time
Liability related to early exercised stock options	`LiabilityRelatedToEarlyExercisedStockOptions`	$4.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$184.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$188.78M	USD	Point-in-time
Deferred revenue, non-current	`DeferredRevenueNoncurrent`	$121.69M	USD	Point-in-time
Deferred revenue, non-current	`DeferredRevenueNoncurrent`	$129.63M	USD	Point-in-time
Other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$1.21M	USD	Point-in-time
Other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$1.64M	USD	Point-in-time
Total liabilities	`Liabilities`	$307.43M	USD	Point-in-time
Total liabilities	`Liabilities`	$320.06M	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value of $0.0001 per share 20,000 shares authorized as of January 31, 2016 and April 30, 2016; no shares issued and outstanding as of January 31, 2016 and April 30, 2016	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value of $0.0001 per share 20,000 shares authorized as of January 31, 2016 and April 30, 2016; no shares issued and outstanding as of January 31, 2016 and April 30, 2016	`PreferredStockValue`	-	USD	Point-in-time
Class A and Class B common stock, par value of $0.0001 per share 2,250,000 (Class A 2,000,000, Class B 250,000) shares authorized as of January 31, 2016 and April 30, 2016; 190,509 (Class A 28,769, Class B 161,740) and 194,124 (Class A 66,438, Class B 127,686) shares issued and outstanding as of January 31, 2016 and April 30, 2016	`CommonStockValue`	$19.00K	USD	Point-in-time
Class A and Class B common stock, par value of $0.0001 per share 2,250,000 (Class A 2,000,000, Class B 250,000) shares authorized as of January 31, 2016 and April 30, 2016; 190,509 (Class A 28,769, Class B 161,740) and 194,124 (Class A 66,438, Class B 127,686) shares issued and outstanding as of January 31, 2016 and April 30, 2016	`CommonStockValue`	$19.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.12B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.16B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$807.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-618.79M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-555.34M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$563.35M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$541.42M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$870.78M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$861.48M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Product	`SalesRevenueGoodsNet`	$111.74M	USD	1 Quarter
Product	`SalesRevenueGoodsNet`	$63.62M	USD	1 Quarter
Support	`SalesRevenueServicesNet`	$10.46M	USD	1 Quarter
Support	`SalesRevenueServicesNet`	$28.21M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$74.08M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$139.95M	USD	1 Quarter
Product	`CostOfGoodsSold`	$22.71M	USD	1 Quarter
Product	`CostOfGoodsSold`	$34.04M	USD	1 Quarter
Support	`CostOfServices`	$12.89M	USD	1 Quarter
Support	`CostOfServices`	$6.92M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$46.94M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$29.64M	USD	1 Quarter
Gross profit	`GrossProfit`	$44.44M	USD	1 Quarter
Gross profit	`GrossProfit`	$93.01M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$31.68M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$52.50M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$82.82M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$48.33M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$21.48M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$12.69M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$156.80M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$92.70M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-48.26M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-63.79M	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$1.28M	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-703.00K	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-62.50M	USD	1 Quarter
Loss before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-48.96M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$157.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$955.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-63.46M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-49.12M	USD	1 Quarter
Net loss per share attributable to common stockholders, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-1.51	USD	1 Quarter
Net loss per share attributable to common stockholders, basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.34	USD	1 Quarter
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	189.28M	shares	1 Quarter
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.60M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-63.46M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-49.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.48M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$10.43M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$22.13M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$8.86M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-484.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	-	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-4.07M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-28.59M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$1.47M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$2.62M	USD	1 Quarter
Deferred commissions	`IncreaseDecreaseInDeferredCommissions`	$-4.14M	USD	1 Quarter
Deferred commissions	`IncreaseDecreaseInDeferredCommissions`	$-1.76M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.74M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.98M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-285.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$166.00K	USD	1 Quarter
Accrued compensation and other liabilities	`IncreaseDecreaseInAccruedCompensationAndOtherLiabilities`	$-3.63M	USD	1 Quarter
Accrued compensation and other liabilities	`IncreaseDecreaseInAccruedCompensationAndOtherLiabilities`	$-11.02M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$22.20M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$20.65M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$6.76M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-14.12M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$24.38M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.74M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	-	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$343.47M	USD	1 Quarter
Sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	-	USD	1 Quarter
Sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$23.33M	USD	1 Quarter
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-706.00K	USD	1 Quarter
Change in restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-6.74M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-343.81M	USD	1 Quarter
Net proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.32M	USD	1 Quarter
Net proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.69M	USD	1 Quarter
Proceeds from issuance of common stock under employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	-	USD	1 Quarter
Proceeds from issuance of common stock under employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$15.08M	USD	1 Quarter
Payments of deferred offering costs	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Payments of deferred offering costs	`PaymentsOfStockIssuanceCosts`	$313.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.38M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$18.40M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-19.48M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-318.65M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$286.10M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$604.74M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$173.23M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$192.71M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$286.10M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$604.74M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$173.23M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$192.71M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaid`	$1.32M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$274.00K	USD	1 Quarter
Property and equipment purchased but not yet paid	`CapitalExpendituresIncurredButNotYetPaid`	$9.45M	USD	1 Quarter
Property and equipment purchased but not yet paid	`CapitalExpendituresIncurredButNotYetPaid`	$4.58M	USD	1 Quarter
Vesting of early exercised stock options	`VestingOfEarlyExercisedStockOptions`	$176.00K	USD	1 Quarter
Vesting of early exercised stock options	`VestingOfEarlyExercisedStockOptions`	$430.00K	USD	1 Quarter
Unpaid deferred offering costs	`UnpaidDeferredOfferingCosts`	$679.00K	USD	1 Quarter
Unpaid deferred offering costs	`UnpaidDeferredOfferingCosts`	-	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-63.46M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-49.12M	USD	1 Quarter
Change in net unrealized gains on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Change in net unrealized gains on available-for-sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$807.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-49.12M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-62.65M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.