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Stock-based Compensation (Tables)
 6 Months Ended
Jul. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Classification of Stock-based Compensation

The following table presents the classification of stock-based compensation for the periods indicated:

 

 

 

Three Months Ended July 31,

 

 

Six Months Ended July 31,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

 

(in thousands)

 

Stock-based compensation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

$

332

 

 

$

246

 

 

$

635

 

 

$

491

 

Research and development

 

 

8,649

 

 

 

6,873

 

 

 

16,626

 

 

 

13,592

 

Selling, general and administrative

 

 

5,454

 

 

 

4,347

 

 

 

10,146

 

 

 

8,684

 

Total stock-based compensation

 

$

14,435

 

 

$

11,466

 

 

$

27,407

 

 

$

22,767

 

 
Weighted-Average Assumptions Used to Estimate Fair Value

The following table sets forth the weighted-average assumptions used to estimate the fair value of stock options and employee stock purchase plan awards for the periods indicated:

 

 

Three Months Ended July 31,

 

 

Six Months Ended July 31,

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Stock Options:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Volatility

 

53

%

 

 

38

%

 

 

53

%

 

 

38

%

Risk-free interest rate

 

1.88

%

 

 

1.39

%

 

 

2.08

%

 

 

1.55

%

Expected term (years)

6.08

 

 

 

6.08

 

 

6.07

 

 

 

5.96

 

Dividend yield

 

0

%

 

 

0

%

 

 

0

%

 

 

0

%

Employee stock purchase plan awards:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Volatility

 

—

 

 

 

—

 

 

 

39

%

 

 

67

%

Risk-free interest rate

 

—

 

 

 

—

 

 

 

0.89

%

 

 

0.52

%

Expected term (years)

 

—

 

 

 

—

 

 

 

0.5

 

 

 

0.5

 

Dividend yield

 

—

 

 

 

—

 

 

 

0

%

 

 

0

%

 
Stock Option Activity

The following table summarizes stock option activity for the six months ended July 31, 2017:

 

 

Option Outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Intrinsic

 

 

Average

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

Value Of

 

 

Remaining

 

 

Aggregate

 

 

 

 

 

 

 

Weighted-

 

 

Average

 

 

Options

 

 

Contractual

 

 

Intrinsic

 

 

 

 

 

 

 

Average

 

 

Grant-date

 

 

Exercised

 

 

Term

 

 

Value

 

 

 

Shares

 

 

Exercise Price

 

 

Fair Value

 

 

(in thousands)

 

 

(in years)

 

 

(in thousands)

 

Outstanding at January 31, 2017

 

 

1,703,524

 

 

$

21.66

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

72,400

 

 

 

55.69

 

 

$

28.84

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(89,829

)

 

 

13.13

 

 

 

 

 

 

$

3,783

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(13,818

)

 

 

56.69

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expired

 

 

(5,495

)

 

 

68.57

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at July 31, 2017

 

 

1,666,782

 

 

 

23.15

 

 

 

 

 

 

 

 

 

 

4.85

 

 

$

48,972

 

Exercisable at July 31, 2017

 

 

1,366,052

 

 

$

16.81

 

 

 

 

 

 

 

 

 

 

 

4.11

 

 

$

47,343

 

 
Restricted Stock and Restricted Stock Units Activities

The following table summarizes restricted stock and restricted stock units activities for the period indicated:

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

Grant-Date

 

 

 

Shares

 

 

Fair Value

 

Unvested at January 31, 2017

 

 

2,175,673

 

 

$

56.76

 

Granted

 

 

364,861

 

 

 

56.79

 

Vested

 

 

(506,826

)

 

 

45.60

 

Forfeited

 

 

(70,588

)

 

 

55.15

 

Unvested at July 31, 2017

 

 

1,963,120

 

 

$

59.71