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Equity Incentive Plans (Tables)
12 Months Ended
Jan. 31, 2018
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, 2017
56,840,189

 
$
7.15

 
7.0
 
$
315,502

Options granted
1,000,000

 
14.92

 
 
 
 

Options exercised
(8,814,019
)
 
2.79

 
 
 
 

Options cancelled/forfeited
(2,666,221
)
 
13.91

 
 
 
 

Balance as of January 31, 2018
46,359,949

 
$
7.75

 
6.3
 
$
574,224

Vested and exercisable as of January 31, 2018
28,990,955

 
$
5.30

 
5.7
 
$
430,325

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,
 
2016
 
2017
 
2018
Employee Stock Options
 
 
 
 
 
Expected term (in years)
6.0 - 7.4

 
6.1

 
6.1

Expected volatility
48% - 52%

 
44
%
 
47
%
Risk-free interest rate
1.5% - 1.9%

 
1.3% - 1.5%

 
1.9
%
Dividend rate

 

 

Fair value of common stock
$13.94 - $19.68

 
$10.37 - $14.52

 
$12.84
Employee Stock Purchase Plan
 

 
 

 
 

Expected term (in years)
0.4 - 1.9

 
0.5 - 2.0

 
0.5 - 2.0

Expected volatility
49
%
 
41
%
 
35% - 39%

Risk-free interest rate
0.1% - 0.7%

 
0.5% - 0.9%

 
0.9% - 1.4%

Dividend rate

 

 

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, 2017
8,783,024
 
$
13.06

 
$
99,863

Granted
15,779,364
 
12.16

 
 
Vested
(5,277,679)
 
12.30

 
 
Forfeited
(1,602,063)
 
11.88

 
 
Unvested balance of January 31, 2018
17,682,646
 
$
12.60

 
$
356,117

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,
 
2016
 
2017
 
2018
Cost of revenue—product
$
276

 
$
601

 
$
1,630

Cost of revenue—support
2,388

 
5,639

 
9,050

Research and development
31,135

 
63,495

 
71,229

Sales and marketing
16,966

 
34,317

 
47,687

General and administrative
7,460

 
12,616

 
21,077

Total stock-based compensation expense
$
58,225

 
$
116,668

 
$
150,673