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Common Stock and Stockholders’ Equity (Deficit) (Tables)
12 Months Ended
Jan. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity

The following table summarizes stock option activity under the Company’s 2006 Stock Plan and the 2016 Plan during the year ended January 31, 2017 (aggregate intrinsic value in thousands):

 

 

 

Options Outstanding

 

 

 

Outstanding

Stock

Options

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual Life

(in years)

 

 

Aggregate

Intrinsic

Value

 

Balance, January 31, 2016

 

 

9,543,966

 

 

$

2.84

 

 

 

8.08

 

 

$

47,658

 

Option grants

 

 

5,573,721

 

 

$

9.75

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(1,184,708

)

 

$

3.59

 

 

 

 

 

 

 

 

 

Options forfeited

 

 

(916,577

)

 

$

4.72

 

 

 

 

 

 

 

 

 

Balance, January 31, 2017

 

 

13,016,402

 

 

$

5.60

 

 

 

7.92

 

 

$

265,542

 

Vested and expected to vest at January 31, 2017

 

 

12,043,481

 

 

$

5.34

 

 

 

7.84

 

 

$

248,821

 

Exercisable at January 31, 2017

 

 

6,859,340

 

 

$

3.63

 

 

 

7.18

 

 

$

153,406

 

 

Summary of Activity Related to RSUs

The following table summarizes the activity related to the Company’s RSUs:

 

 

 

Number of

RSUs

Outstanding

 

 

Weighted-Average

Grant Date

Fair Value

 

Awarded and unvested at January 31, 2016

 

 

62,500

 

 

$

5.20

 

Awards granted

 

 

52,466

 

 

$

26.12

 

Awards vested

 

 

(27,343

)

 

$

5.36

 

Awards forfeited

 

 

(9,740

)

 

$

12.14

 

Awarded and unvested at January 31, 2017

 

 

77,883

 

 

$

18.38

 

 

Total Stock-Based Compensation Expense

The Company’s total stock-based compensation expense was as follows (in thousands):

 

 

 

For the year ended

 

 

 

January 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Cost of revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Subscription services

 

$

715

 

 

$

235

 

 

$

109

 

Professional services and other

 

 

772

 

 

 

1,014

 

 

 

110

 

Research and development

 

 

1,766

 

 

 

1,236

 

 

 

337

 

Sales and marketing

 

 

3,130

 

 

 

1,347

 

 

 

433

 

General and administrative

 

 

3,069

 

 

 

6,736

 

 

 

818

 

Total

 

$

9,452

 

 

$

10,568

 

 

$

1,807

 

 

Assumptions used to Estimate Fair Values of Stock Options Granted

The fair values of the Company’s stock options granted during the years ended January 31, 2017, 2016 and 2015 were estimated using the following assumptions:

 

 

 

For the year ended

 

 

 

January 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Employee Stock Options

 

 

 

 

 

 

 

 

 

 

 

 

Expected term (years)

 

6.00

 

 

5.70 - 6.00

 

 

6.08

 

Volatility

 

 

48%

 

 

 

48%

 

 

48% - 52%

 

Weighted average volatility

 

 

48%

 

 

 

48%

 

 

 

51%

 

Risk-free interest rate

 

1.27% - 2.08%

 

 

1.62% - 1.94%

 

 

1.80% - 2.00%

 

Dividend yield

 

 

0%

 

 

 

0%

 

 

 

0%

 

Employee Stock Purchase Plan

 

 

 

 

 

 

 

 

 

 

 

 

Expected term (years)

 

0.41 - 1.91

 

 

 

 

 

 

 

Volatility

 

 

48%

 

 

 

 

 

 

 

Weighted average volatility

 

 

48%

 

 

 

 

 

 

 

Risk-free interest rate

 

0.48% - 0.81%

 

 

 

 

 

 

 

Dividend yield

 

 

0%

 

 

 

 

 

 

 

Market-Based Options

 

 

 

 

 

 

 

 

 

 

 

 

Expected term (years)

 

7.36

 

 

 

 

 

 

 

Volatility

 

 

48%

 

 

 

 

 

 

 

Weighted average volatility

 

 

48%

 

 

 

 

 

 

 

Risk-free interest rate

 

 

1.61%

 

 

 

 

 

 

 

Dividend yield

 

 

0%