EFiled: Nov 05 2024 04:S8PMESTYA
`Case No. 2022-1001-KSJM eXotLy
`Transaction ID 74921406=/>),/4.1"|)*)
`
`OFDAS
`
`EXHIBIT C-45
`EXHIBIT C-45
`
`EFiled: Nov 05 2024 04:58PM EST
`Transaction ID 74921406
`Case No. 2022-1001-KSJM
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`plan-20220131
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`UNITED STATES
`SECURITIES AND EXCHANGE COMMISSION
`Washington, D.C. 20549
`_____________________
`Form 10-K
`_____________________
`(Mark One)
`☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
`For the fiscal year ended January 31, 2022
`OR
`☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
`For the transition period from: to
`
`
`Commission File Number 001-38698
`ANAPLAN, INC.
`
`(Exact name of Registrant as specified in its charter)
`_____________________
`
`Delaware
`(State or other jurisdiction of incorporation or organization)
`50 Hawthorne Street
`San Francisco, California
`(Address of principal executive offices)
`
`27-0897861
`(I.R.S. Employer Identification No.)
`
`94105
`(Zip Code)
`
`(415) 742-8199
`(Registrant’s telephone number, including area code)
`Securities registered pursuant to Section 12(b) of the Act:
`
`Name of each exchange on which registered
`Trading Symbol
`Title of each class
`New York Stock Exchange
`PLAN
`Common Stock, par value $0.0001 per share
`Securities registered pursuant to Section 12(g) of the Act:
`None
`Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ No ¨
`Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No þ
`Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities
`Exchange Act of 1934 (Exchange Act) during the preceding 12 months (or for such shorter period that the Registrant was required to file such
`reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨
`Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to
`Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was
`required to submit such files). Yes þ No ¨
`Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
`company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and
`“emerging growth company” in Rule 12b-2 of the Exchange Act.
`☐
`Large accelerated filer
`☐
`☐
`Non-accelerated filer
`☐
`
`Accelerated filer
`Small reporting company
`Emerging growth company
`If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for
`complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
`
`þ
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`•
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`Risks Related to Ownership of Our Common Stock
`The stock price of our common stock may be volatile and may decline regardless of our operating performance and you
`may lose all or part of your investment.
`The market price of our common stock has been and may continue to be volatile. For example, the closing price of our
`common stock since February 1, 2021 through January 31, 2022 has ranged from a low of $39.92 to a high of $86.17. In addition
`to factors discussed in this report, the market price of our common stock may fluctuate significantly in response to numerous
`factors, many of which are beyond our control, including:
`•
`whether the Merger is consummated;
`•
`the COVID-19 pandemic and the extent to which, and for how long, it impacts our business and that of our customers
`and prospective customers;
`overall performance of the equity markets;
`our operating performance, including key metrics, and the performance of other similar companies;
`changes in our projected operating results that we provide to the public, our failure to meet these projections or
`changes in recommendations by securities analysts that elect to follow our common stock;
`changes in our financial, operating or other metrics, regardless of whether we consider those metrics as reflective of
`the current state or long-term prospects of our business, and how those results compare to securities analyst
`expectations;
`announcements of technological innovations, new software or enhancements to services, acquisitions, strategic
`alliances, or significant agreements by us or by our competitors;
`disruptions in our services due to computer hardware, software, or network problems;
`a data breach or other security incident involving us, or one of our customers or partners, or another company in the
`cloud planning software market;
`announcements of customer additions and customer cancellations or delays in customer purchases;
`recruitment or departure of key personnel;
`the economy as a whole, market conditions in our industry and the industries of our customers;
`the sale, purchase, or exercise of a significant block of our common stock, including by activist shareholders;
`any coordinated trading activities or large derivative positions in our common stock, for example, a “short squeeze” (a
`short squeeze occurs when a number of investors take a short position in a stock and have to buy the borrowed
`securities to close out the position at a time that other short sellers of the same security also want to close out their
`positions, resulting in surges in stock prices, i.e., demand is greater than supply for the stock sold short);
`the impact of environmental, social, governance or other matters on our reputation or investor confidence in our
`operations;
`the size of our market float; and
`•
`any other factors discussed in this Annual Report on Form 10-K.
`•
`In addition, the stock markets have experienced extreme price and volume fluctuations that have affected and continue to
`affect the market prices of equity securities of many technology companies. Stock prices of many technology companies have
`fluctuated in a manner unrelated or disproportionate to the operating performance of those companies. In the past, stockholders
`have filed securities class action litigation following periods of market volatility. We have been and may in the future become
`involved in securities litigation, and any such litigation could subject us to substantial costs, divert resources, and the attention of
`management from our business and adversely affect our business.
`
`•
`•
`•
`•
`•
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`•
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`If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our
`business, our stock price and trading volume could decline.
`The trading market for our common stock depends in part on the research and reports that securities or industry analysts
`publish about us or our business. If one or more analysts cease or reduce coverage of us, the trading price for our common stock
`would be negatively affected. If one or more of the analysts who cover us downgrade our common stock or publish inaccurate or
`unfavorable research about our business, our common stock price would likely decline.
`
`We do not intend to pay dividends for the foreseeable future.
`We have never declared nor paid cash dividends on our capital stock. We currently intend to retain any future earnings to
`finance the operation and expansion of our business, and we do not expect to declare or pay any dividends in the foreseeable
`future. Consequently, stockholders must rely on sales of their common stock after price appreciation, which may never occur, as
`the only way to realize any future gains on their investment.
`
`•
`
`•
`
`Delaware law and provisions in our amended and restated certificate of incorporation and amended and restated bylaws
`could make a merger, tender offer, or proxy contest difficult, thereby depressing the trading price of our common stock.
`Our amended and restated certificate of incorporation and amended and restated bylaws contain provisions that may
`make the acquisition of our company more difficult, including the following:
`•
`a classified board of directors so that not all members of our board of directors are elected at one time, which could
`delay the ability of stockholders to change the membership of a majority of our board of directors;
`the ability of our board of directors to issue shares of preferred stock and to determine the price and other terms of
`those shares, including preferences and voting rights, without stockholder approval, which could be used to
`significantly dilute the ownership of a hostile acquiror;
`the right of our board of directors, subject to the rights of the holders of any series of preferred stock, to the extent
`such preferred stock is issued by the board of directors in the future, to elect a director to fill a vacancy created by the
`expansion of our board of directors or the resignation, death, or removal of a director, could impede an attempt by
`stockholders to fill vacancies on our board of directors;
`a prohibition on stockholder action by written consent, which forces stockholder action to be taken at an annual or
`special meetings of our stockholders;
`the requirement that a special meeting of stockholders may be called only by a majority vote of our entire board of
`directors, the chairman of our board of directors or our chief executive officer, which could delay the ability of our
`stockholders to force consideration of a proposal or to take action, including the removal of directors; and
`advance notice procedures with which stockholders must comply to nominate candidates to our board of directors or to
`propose matters to be acted upon at a stockholders’ meeting, which may discourage or deter a potential acquiror from
`conducting a solicitation of proxies to elect the acquiror’s own slate of directors or otherwise attempting to obtain
`control of us.
`In addition, as a Delaware corporation, we are subject to Section 203 of the Delaware General Corporation Law. This
`provision may prohibit large stockholders, in particular those owning 15% or more of our outstanding voting stock, from engaging in
`a business combination with us even if the business combination would be beneficial to our existing stockholders. A Delaware
`corporation may opt out of this provision by express provision in its original certificate of incorporation or by amendment to its
`certificate of incorporation or bylaws approved by its stockholders. However, we have not opted out of this provision.
`These and other provisions in our amended and restated certificate of incorporation, amended and restated bylaws, and
`Delaware law could make it more difficult for stockholders or potential acquirers to obtain control of our board of directors or initiate
`actions that are opposed by our then-current board of directors, including delay or impede a merger, tender offer, or proxy contest
`involving our company. The existence of these provisions could negatively affect the price of our common stock and limit
`opportunities for you to realize value in a corporate transaction.
`
`•
`
`•
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`•
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`Our amended and restated certificate of incorporation provides that the Court of Chancery of the State of Delaware is the
`exclusive forum for many types of disputes between us and our stockholders, which could limit our stockholders’ ability
`to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.
`Our amended and restated certificate of incorporation provides that the Court of Chancery of the State of Delaware is the
`exclusive forum for any derivative action or proceeding brought on our behalf, any action asserting a breach of fiduciary duty, any
`action asserting a claim against us arising pursuant to the Delaware General Corporation Law, our certificate of incorporation or
`our bylaws or any action asserting a claim against us that is governed by the internal affairs doctrine. This choice of forum
`provision may limit a stockholder’s ability to bring a claim in a judicial forum that it finds favorable for disputes with us or our
`directors, officers, or other employees and may discourage these types of lawsuits. Alternatively, if a court were to find the choice
`of forum provision contained in our amended and restated certificate of incorporation to be inapplicable or unenforceable in an
`action, we may incur additional costs associated with resolving such action in other jurisdictions.
`
`General Risk Factors
`
`Uncertain global economic and market conditions may negatively impact our business, results of operations and cash
`flows.
`
`Our business depends on the overall demand for information technology and on the economic health of our current and
`prospective customers in the United States and abroad. Any significant weakening of the economy in the United States or in
`regions globally like Europe and Asia, more limited availability of credit, a reduction in business confidence and activity, decreased
`government spending, perceived impact of global trade barriers like tariffs and sanctions and the corresponding retaliatory actions,
`economic uncertainty, including as a result of concerns regarding inflationary pressures, outbreaks of hostilities or wars, market
`volatility including in response to actual or anticipated changes in interest rates, or other difficulties may affect one or more of the
`sectors or countries in which we sell our platform. Global economic and political uncertainty, including the uncertainty surrounding
`the COVID-19 pandemic, Brexit, the Russian invasion of Ukraine, increased tariffs and international trade disputes, may cause
`some of our customers or potential customers to curtail spending, scale back their digital transformation efforts, delay their
`expansion of Anaplan use cases, result in new regulatory and cost challenges to our international operations and cause customers
`to delay or reduce their technology spending overall. In addition, in February 2022, following Russia’s invasion of Ukraine, the U.S.
`and other countries announced sanctions against Russia, which sanctions include restrictions on selling or importing goods,
`services or technology in or from affected regions. The U.S. and other countries could impose wider sanctions and take other
`actions should the conflict further escalate. While it is difficult to anticipate the impact the sanctions announced to date may have
`on our business, these or any further sanctions imposed or actions taken by the U.S. or other countries could impact our ability to
`offer services and increase our costs in the region. In addition, a strong dollar could reduce demand for our products in countries
`with relatively weaker currencies. Global economic conditions and market conditions may also continue to experience volatility and
`remain uncertain for an indefinite period of time as a result of the COVID-19 pandemic. We expect our business will be impacted in
`a variety of ways by these conditions because, among other reasons, some prospective and existing customers may curtail
`business spending and business disruptions for us and/or our customers are likely to persist in at least some jurisdictions. These
`adverse conditions have, in part, resulted in and may result in certain of our customers and prospective customers deferring or
`delaying buying decisions and project implementations, and prolonged sales cycles. These adverse conditions could result in
`reductions in the rate of enterprise software spending generally, sales of our platform, longer sales cycles, slower adoption of new
`technologies, lower renewal rates and increased price competition. Any of these events could have an adverse effect on our
`business, operating results, and financial position.
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`Catastrophic events and other events beyond our control may disrupt our business and adversely affect our operating
`results.
`
`Natural disasters, catastrophic events, and other events beyond our control may cause damage or disruption to our
`business. As an example, our corporate headquarters are located in San Francisco, California and the west coast of the United
`States contains active earthquake zones. An earthquake affecting our headquarters may result in disruption to our business and
`operations. Additionally, we rely on our network and third-party infrastructure and enterprise applications, internal technology
`systems, and our website for our development, marketing, operational support, hosted services, and sales activities and such
`infrastructure and systems may also be affected by natural disasters or other catastrophic events. For example, our data centers
`are critical infrastructure located in the United States, the Netherlands, and Germany, including in areas with active earthquake
`zones. From time to time, global pandemics may result from outbreak of diseases such as the MERS, SARS, avian flu and COVID-
`19, which may result in a material adverse impact on our or our customers’ and partners’ business operations including reduction
`or suspension of operations in the U.S. or certain parts of the world. We serve a wide range of customers with international
`operations in varying industries including manufacturing. Depending upon the continuity and severity of pandemics such as the
`COVID-19 pandemic, our customers and partners may suspend or delay their engagement with us, or our partners may have
`difficulty engaging with customers and delivering the services we typically expect them to provide, which could result in a material
`adverse effect on our financial condition. Although we maintain disaster and crisis recovery plans, in the event of an earthquake,
`hurricane, flood, natural disaster or catastrophic event such as fire, power loss, telecommunications failure, breach of security
`protocols, global pandemics like the COVID-19 pandemic, cyber-attack, war, or terrorist attack, such plans or the disaster recovery
`plans established by the third-party data centers and other infrastructure that we rely on may prove to be inadequate and we may
`be unable to continue our operations and may endure system interruptions, reputational harm, delays in our product development,
`lengthy interruptions in our services, breaches of data security, and loss of critical data, all of which could have an adverse effect
`on our business, operating results, and financial condition. Furthermore, in the event of a catastrophic event or other crisis, our
`insurance coverage may not adequately compensate us for any losses that we may incur.
`
`ITEM 1B. UNRESOLVED STAFF COMMENTS
`None.
`
`ITEM 2. PROPERTIES
`We sublease approximately 55,000 square feet of space for our corporate headquarters in San Francisco, California
`pursuant to a sublease that expires in February 2026. We also have leased offices or co-working facilities in Chicago, Illinois,
`Minneapolis, Minnesota, and New York, New York. We maintain international offices or co-working facilities in Australia, Austria,
`Belgium, Canada, France, Germany, India, Israel, Japan, Malaysia, Singapore, Sweden, Switzerland and the United Kingdom. We
`believe that we will be able to obtain additional space on commercially reasonable terms.
`
`ITEM 3. LEGAL PROCEEDINGS
`The information set forth in Note 8, “Commitments and Contingencies—Legal Matters” to the consolidated financial
`statements included in Part II, Item 8 of this Annual Report on Form 10-K is incorporated herein by reference.
`
`ITEM 4. MINE SAFETY DISCLOSURES
`Not applicable.
`
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`PART II
`
`ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER
`PURCHASES OF EQUITY SECURITIES
`Market Information for Common Stock
`Our common stock is listed on the New York Stock Exchange under the symbol “PLAN”.
`
`Dividends
`We have never declared or paid any cash dividends on our common stock. We currently intend to retain any future
`earnings to support operations and to finance the growth and development of our business and do not intend to declare or pay any
`cash dividends on our common stock for the foreseeable future. Any future determination to pay dividends on our common stock
`will be made at the discretion of our board of directors, subject to applicable laws, and will depend upon our results of operations,
`financial condition, contractual restrictions, general business conditions, capital requirements and other factors that our board of
`directors considers relevant.
`
`Holders of Record
`As of March 16, 2022, there were 95 registered stockholders of record of our common stock. We believe a substantially
`greater number of beneficial owners hold shares through brokers, banks or other nominees.
`
`Securities Authorized for Issuance under Equity Compensation Plans
`The information concerning our equity compensation plans is incorporated by reference herein to the section of the Proxy
`Statement entitled “Equity Compensation Plan Information.”
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`Stock Performance Graph
`The following shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended,
`or incorporated by reference into any of our other filings under the Securities Exchange Act of 1934, as amended, or the Securities
`Act of 1933, as amended.
`The performance graph below shows the cumulative total stockholder return on our common stock for the period from
`October 12, 2018 to January 31, 2022. This is compared with the cumulative total return of the NASDAQ Computer Index and the
`Standard & Poor’s 500 Stock Index, or the S&P 500, over the same period. The graph assumes that on October 12, 2018, our
`initial trading day, $100 was invested in our common stock at the market close and $100 was invested at the market close in each
`of the other two indices, with dividends reinvested on the date of payment without payment of any commissions. Dollar amounts in
`the graph are rounded to the nearest whole dollar. The performance shown in the graph represents past performance and should
`not be considered an indication of future performance.
`
`Recent Sale of Unregistered Securities and Use of Proceeds
`There were no sales of unregistered equity securities which have not been previously disclosed in a quarterly report on
`Form 10-Q or a current report on Form 8-K during our fiscal year ended January 31, 2022.
`
`Purchases of Equity Securities by the Issuer and Affiliated Purchasers
`None.
`
`ITEM 6. [Reserved]
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`Report of Independent Registered Public Accounting Firm
`
`To the Stockholders and Board of Directors
`Anaplan, Inc.:
`
`Opinions on the Consolidated Financial Statements and Internal Control Over Financial Reporting
`We have audited the accompanying consolidated balance sheets of Anaplan, Inc. and subsidiaries (the Company) as of
`January 31, 2022 and 2021, the related consolidated statements of comprehensive loss, stockholders’ equity, and cash flows for
`each of the years in the three-year period ended January 31, 2022, and the related notes (collectively, the consolidated financial
`statements). We also have audited the Company’s internal control over financial reporting as of January 31, 2022, based on
`criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the
`Treadway Commission.
`
`In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position
`of the Company as of January 31, 2022 and 2021, and the results of its operations and its cash flows for each of the years in the
`three-year period ended January 31, 2022, in conformity with U.S. generally accepted accounting principles. Also in our opinion,
`the Company maintained, in all material respects, effective internal control over financial reporting as of January 31, 2022 based
`on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of
`the Treadway Commission.
`
`Basis for Opinions
`The Company’s management is responsible for these consolidated financial statements, for maintaining effective internal control
`over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in the
`accompanying Management’s Report on Internal Control Over Financial Reporting. Our responsibility is to express an opinion on
`the Company’s consolidated financial statements and an opinion on the Company’s internal control over financial reporting based
`on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States)
`(PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and
`the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
`
`We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the
`audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement,
`whether due to error or fraud, and whether effective internal control over financial reporting was maintained in all material respects.
`
`Our audits of the consolidated financial statements included performing procedures to assess the risks of material misstatement of
`the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such
`procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial
`statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as
`well as evaluating the overall presentation of the consolidated financial statements. Our audit of internal control over financial
`reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material
`weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk.
`Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our
`audits provide a reasonable basis for our opinions.
`
`Definition and Limitations of Internal Control Over Financial Reporting
`A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the
`reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
`accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that
`(1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of
`the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of
`financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the
`company are being made only in accordance with authorizations of management and directors of the company; and (3) provide
`reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s
`assets that could have a material effect on the financial statements.
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`Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also,
`projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate
`because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
`
`Critical Audit Matter
`The critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial
`statements that was communicated or required to be communicated to the audit committee and that: (1) relates to accounts or
`disclosures that are material to the consolidated financial statements and (2) involved our especially challenging, subjective, or
`complex judgments. The communication of a critical audit matter does not alter in any way our opinion on the consolidated
`financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate
`opinion on the critical audit matter or on the accounts or disclosures to which it relates.
`
`Amortization period for capitalized sales commissions
`As discussed in Note 1 to the consolidated financial statements, the Company capitalizes sales commissions related to the
`acquisition of customer contracts and amortizes them over the estimated period of benefit. In determining the period of benefit, the
`Company considers data including historical initial and renewal contractual terms and estimated renewal rates. The Company
`estimated the period of benefit for the initial acquisition of a contract to be five years. The Company amortized $42,635 thousand of
`deferred commissions during the year ended January 31, 2022 and had $159,168 thousand of deferred commissions capitalized
`as of January 31, 2022.
`
`We identified the evaluation of the amortization period for capitalized sales commissions related to the acquisition of customer
`contracts as a critical audit matter. Evaluating the Company’s assessment of the relevant information used in the model to
`determine the estimated period of benefit involved subjective auditor judgment.
`
`The following are the primary procedures we performed to address this critical audit matter. We evaluated the design and tested
`the operating effectiveness of an internal control related to the Company’s capitalized sales commission process. This control
`related to the assessment of the model used and the determination of relevant information, and the re-assessment of the period of
`benefit. We considered the Company’s assessment of the information used to estimate the period of benefit by evaluating its
`relevance against potential alternatives. We recalculated the Company’s historical initial and renewal contractual terms. We
`compared the estimated renewal rates to a sample of historical customer contracts.
`
`We have served as the Company’s auditor since 2013.
`
`San Francisco, California
`March 23, 2022
`
`/s/ KPMG LLP
`
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`ANAPLAN, INC.
`CONSOLIDATED BALANCE SHEETS
`(In thousands, except per share data)
`
`ASSETS
`Current assets:
`Cash and cash equivalents
`Accounts receivable, net of allowances for credit losses of $3,224 and $3,162 as of January 31,
`2022 and 2021, respectively
`Deferred commissions, current portion
`Prepaid expenses and other current assets
`Total current assets
`Property and equipment, net
`Deferred commissions, net of current portion
`Goodwill
`Operating lease right-of-use assets
`Other noncurrent assets
`TOTAL ASSETS
`LIABILITIES AND STOCKHOLDERS' EQUITY
`Current liabilities:
`Accounts payable
`Accrued expenses
`Deferred revenue, current portion
`Operating lease liabilities, current portion
`Total current liabilities
`Deferred revenue, net of current portion
`Operating lease liabilities, net of current portion
`Other noncurrent liabilities
`TOTAL LIABILITIES
`Commitments and contingenci