XML 33 R23.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-Based Compensation (Tables)
9 Months Ended
Oct. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity Under Equity Incentive Plans and Related Information

The following table summarizes the stock option activity under the equity incentive plans and related information:

 

 

 

Shares Subject to Options Outstanding

 

 

Weighted-Average

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

Remaining

 

 

 

 

 

 

 

 

 

 

 

Average Exercise

 

 

Contractual Life

 

 

Aggregate

 

 

 

Shares

 

 

Price

 

 

(Years)

 

 

Intrinsic Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

Balance as of January 31, 2017

 

 

12,318,800

 

 

$

7.44

 

 

 

6.42

 

 

$

119,606

 

Options granted

 

 

1,533,056

 

 

 

17.46

 

 

 

 

 

 

 

 

 

Option exercised

 

 

(1,561,172

)

 

 

6.36

 

 

 

 

 

 

 

 

 

Options forfeited/cancelled

 

 

(852,990

)

 

 

15.05

 

 

 

 

 

 

 

 

 

Balance as of October 31, 2017

 

 

11,437,694

 

 

$

8.37

 

 

 

5.99

 

 

$

155,364

 

Vested and expected to vest as of October 31, 2017

 

 

11,330,158

 

 

$

8.30

 

 

 

5.97

 

 

$

154,675

 

Exercisable as of October 31, 2017

 

 

8,939,286

 

 

$

6.36

 

 

 

5.30

 

 

$

139,342

 

 

Summary of Restricted Stock Unit Activity Under Equity Incentive Plans and Related Information

The following table summarizes the restricted stock unit activity under the equity incentive plans and related information:

 

 

 

Number of

 

 

Weighted-

 

 

 

Restricted

 

 

Average

 

 

 

Stock Units

 

 

Grant Date

 

 

 

Outstanding

 

 

Fair Value

 

Unvested balance - January 31, 2017

 

 

11,822,316

 

 

$

14.67

 

Granted

 

 

6,820,260

 

 

 

17.74

 

Vested, net of shares withheld for employee

   payroll taxes

 

 

(2,338,184

)

 

 

14.51

 

Forfeited/cancelled

 

 

(1,342,417

)

 

 

15.12

 

Unvested balance - October 31, 2017

 

 

14,961,975

 

 

$

16.22

 

 

Summary of Components of Stock-Based Compensation Expense

The following table summarizes the components of stock-based compensation expense recognized in the consolidated statements of operations (in thousands):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

October 31,

 

 

October 31,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Cost of revenue

 

$

2,814

 

 

$

1,986

 

 

$

7,945

 

 

$

5,328

 

Research and development

 

 

9,705

 

 

 

7,730

 

 

 

28,419

 

 

 

21,602

 

Sales and marketing

 

 

8,208

 

 

 

6,744

 

 

 

23,882

 

 

 

18,390

 

General and administrative

 

 

4,796

 

 

 

3,457

 

 

 

12,290

 

 

 

9,750

 

Total stock-based compensation

 

$

25,523

 

 

$

19,917

 

 

$

72,536

 

 

$

55,070

 

 

Summary of Estimated Fair Value of Employee Stock Options

We estimated the fair value of employee stock options and 2015 ESPP purchase rights using a Black-Scholes option pricing model with the following assumptions:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

October 31,

 

 

October 31,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Employee Stock Options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expected term (in years)

 

 

 

 

 

 

6.1

 

 

 

 

 

 

 

6.0

 

 

 

5.5

 

-

 

6.1

 

 

 

5.5

 

-

 

6.0

 

Risk-free interest rate

 

 

 

 

 

 

2.0%

 

 

 

1.3

%

-

 

1.4%

 

 

 

1.8

%

-

 

2.1%

 

 

 

1.3

%

-

 

1.5%

 

Volatility

 

 

 

 

 

 

39%

 

 

 

 

 

 

 

40%

 

 

 

38

%

-

 

40%

 

 

 

40

%

-

 

43%

 

Dividend yield

 

 

 

 

 

 

0%

 

 

 

 

 

 

 

0%

 

 

 

 

 

 

 

0%

 

 

 

 

 

 

 

0%

 

Employee Stock Purchase Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expected term (in years)

 

 

0.5

 

-

 

2.0

 

 

 

0.5

 

-

 

2.0

 

 

 

0.5

 

-

 

2.0

 

 

0.5

 

-

 

2.0

 

Risk-free interest rate

 

 

1.2

%

-

 

1.4%

 

 

 

0.5

%

-

 

0.8%

 

 

 

0.9

%

-

 

1.4%

 

 

 

0.5

%

-

 

0.9%

 

Volatility

 

 

29

%

-

 

40%

 

 

 

39

%

-

 

51%

 

 

 

28

%

-

 

43%

 

 

 

39

%

-

 

60%

 

Dividend yield

 

 

 

 

 

 

0%

 

 

 

 

 

 

 

0%

 

 

 

 

 

 

 

0%

 

 

 

 

 

 

 

0%