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Equity Incentive Plans (Tables)
12 Months Ended
Jan. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity Under Equity Incentive Plans and Related Information
A summary of activity under our equity incentive plans and related information is as follows:
 
 
Options Outstanding
 
 
 
 
 
Number of
Shares
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic
Value
 
 
 
 
 
 
 
(in thousands) 
Balance as of January 31, 2016
68,879,087

 
$
6.43

 
7.9
 
$
505,131

Options granted
1,999,000

 
12.69

 
 
 
 

Options exercised
(10,180,258
)
 
1.47

 
 
 
 

Options cancelled/forfeited
(3,857,640
)
 
12.18

 
 
 
 

Balance as of January 31, 2017
56,840,189

 
$
7.15

 
7.0
 
$
315,502

Vested and exercisable as of January 31, 2017
29,575,922

 
$
4.12

 
6.2
 
$
228,436

Summary of Estimate Fair Value of Employee Stock Options and Employee Purchase Plan
We estimate the fair value of employee stock options and ESPP purchase rights using a Black-Scholes option pricing model with the following assumptions:
 
 
Year Ended January 31,
 
2015
 
2016
 
2017
Employee Stock Options
 
 
 
 
 
Expected term (in years)
5.0 - 6.9

 
6.0 - 7.4

 
6.1

Expected volatility
55% - 68%

 
48% - 52%

 
44
%
Risk-free interest rate
1.3% - 2.2%

 
1.5% - 1.9%

 
1.25% - 1.49%

Dividend rate

 

 

Fair value of common stock
$4.81 - $12.65

 
$13.94 - $19.68

 
$10.37 - $14.52

Employee Stock Purchase Plan
 

 
 

 
 

Expected term (in years)

 
0.4 - 1.9

 
0.5 - 2.0

Expected volatility

 
49
%
 
41
%
Risk-free interest rate

 
0.1% - 0.7%

 
0.5% - 0.9%

Dividend rate

 

 

Summary of Estimate Fair Value of Non-employee Stock
We estimate the fair value of non-employee stock options on the date of grant using a Black-Scholes option pricing model with the following assumptions:
 
 
Year Ended January 31,
 
2015
 
2016
 
2017
Expected term (in years)
10.0

 
10.0

 

Expected volatility
62% - 63%

 
49
%
 

Risk-free interest rate
1.6% - 2.6%

 
1.5
%
 

Dividend rate

 

 

Fair value of common stock
$9.40 - $12.40

 

$17.00

 

Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of the restricted stock unit activity under our 2015 Plan and related information is as follows:
 
Number of Restricted Stock Units Outstanding
 
Weighted-Average Grant Date Fair value
 
Aggregate Intrinsic Value
 
 
 
 
 
(in thousands) 
Unvested Balance as of January 31, 2016
53,000
 
$
16.98

 
$
690

Granted
10,501,600
 
13.15

 
 
Vested
(1,237,502)
 
13.95

 
 
Forfeited
(534,074)
 
13.16

 
 
Unvested Balance of January 31,2017
8,783,024
 
$
13.06

 
$
99,863

Summarizes the Components of Stock-Based Compensation
The following table summarizes the components of stock-based compensation expense recognized in the consolidated statements of operations (in thousands):
 
 
Year Ended January 31,
 
2015
 
2016
 
2017
Cost of revenue—product
$
303

 
$
276

 
$
601

Cost of revenue—support
1,273

 
2,388

 
5,639

Research and development
22,512

 
31,135

 
63,495

Sales and marketing
22,466

 
16,966

 
34,317

General and administrative
6,479

 
7,460

 
12,616

Total stock-based compensation expense
$
53,033

 
$
58,225

 
$
116,668