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Stockholder's Equity and Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Stockholder's Equity and Stock Based Compensation  
Summary of stock option activity

 

                                                                                                                                                                                    

 

 

Number of
Stock
Options
Outstanding
(in thousands)

 

Weighted-
Average
Exercise
Price

 

Weighted-
Average
Remaining
Contractual
Life
(in years)

 

Aggregate
Intrinsic
Value
(in thousands)

 

Balance as of December 31, 2014

 

 

5,404

 

$

11.55

 

 

 

 

 

 

 

Granted

 

 

65

 

 

29.12

 

 

 

 

 

 

 

Exercised

 

 

(1,292

)

 

4.64

 

 

 

 

 

 

 

Options Cancelled/Forfeited

 

 

(400

)

 

17.81

 

 

 

 

 

 

 

​  

​  

​  

​  

​  

​  

​  

​  

Balance as of December 31, 2015

 

 

3,777

 

$

13.55

 

 

6.61

 

$

65,915

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Exercisable as of December 31, 2015

 

 

3,234

 

$

9.77

 

 

6.34

 

$

65,435

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Vested and expected to vest as of December 31, 2015

 

 

3,655

 

$

13.20

 

 

6.57

 

$

64,761

 

​  

​  

​  

​  

​  

​  

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Schedule of weighted average grant date fair value of options granted and the total intrinsic value of options exercised

 

                                                                                                                                                                                    

 

 

Year Ended December 31,

 

 

 

2015

 

2014

 

2013

 

Weighted average grant date fair value

 

$

12.44 

 

$

20.72 

 

$

5.08 

 

Total intrinsic value of options exercised (in thousands)

 

$

31,938 

 

$

47,273 

 

$

38,241 

 

 

Schedule of information regarding options outstanding

 

                                                                                                                                                                                    

 

 

 

 

 

 

Options Outstanding

 

 

 

 

 

 

 

 

 

 

 

Options Exercisable

 

 

 

 

 

 

 

Weighted
Average
Remaining
Contractual Term
(in years)

 

 

 

Range of
Exercise Prices

 

Number of
Shares
Outstanding
(in thousands)

 

Weighted
Average
Exercise
Price

 

Shares
Exercisable
(in thousands)

 

Weighted
Average
Exercise
Price

 

$

0.12 

 

$

1.50 

 

 

460 

 

 

4.11 

 

$

1.17 

 

 

460 

 

$

1.17 

 

 

2.38 

 

 

4.24 

 

 

390 

 

 

5.36 

 

 

2.74 

 

 

390 

 

 

2.74 

 

 

4.56 

 

 

4.56 

 

 

626 

 

 

6.29 

 

 

4.56 

 

 

611 

 

 

4.56 

 

 

4.74 

 

 

5.44 

 

 

142 

 

 

6.49 

 

 

4.79 

 

 

142 

 

 

4.79 

 

 

7.42 

 

 

7.42 

 

 

1,011 

 

 

6.97 

 

 

7.42 

 

 

1,011 

 

 

7.42 

 

 

9.24 

 

 

31.67 

 

 

463 

 

 

8.25 

 

 

23.05 

 

 

273 

 

 

18.32 

 

 

32.65 

 

 

32.99 

 

 

45 

 

 

3.79 

 

 

32.83 

 

 

35 

 

 

32.88 

 

 

40.50 

 

 

40.50 

 

 

255 

 

 

8.07 

 

 

40.50 

 

 

122 

 

 

40.50 

 

 

41.40 

 

 

41.40 

 

 

158 

 

 

8.08 

 

 

41.40 

 

 

76 

 

 

41.40 

 

 

41.91 

 

 

41.91 

 

 

227 

 

 

7.73 

 

 

41.91 

 

 

114 

 

 

41.91 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

$

0.12 

 

$

41.91 

 

 

3,777 

 

 

6.61 

 

$

13.55 

 

 

3,234 

 

$

9.77 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of assumptions used for estimation of fair value of options granted to employees

 

                                                                                                                                                                                    

 

 

Year Ended December 31,

 

 

2015

 

2014

 

2013

Expected term (in years)

 

6

 

6

 

6

Risk-free interest rate

 

1.55% - 1.87%

 

1.80% - 1.97%

 

0.86% - 1.78%

Expected volatility

 

43% - 45%

 

49% - 56%

 

57% - 58%

Expected dividend rate

 

0%

 

0%

 

0%

  

Summary of Restricted Stock Units RSUs activity

 

                                                                                                                                                                                    

 

 

Number of
RSUs
(in thousands)

 

Weighted
Average Grant
Date Fair Value

 

Balance as of December 31, 2014

 

 

2,360

 

$

33.30

 

RSUs Granted

 

 

2,017

 

 

31.99

 

RSUs Vested

 

 

(633

)

 

33.18

 

RSUs Cancelled/Forfeited

 

 

(707

)

 

31.65

 

​  

​  

​  

​  

Balance as of December 31, 2015

 

 

3,037

 

$

32.84

 

​  

​  

​  

​  

​  

​  

​  

​  

 

Schedule of weighted average grant date fair value of RSU and the total intrinsic value of RSU vested

 

                                                                                                                                                                                    

 

 

Year Ended December 31,

 

 

 

2015

 

2014

 

2013

 

Weighted average grant date fair value

 

$

31.99 

 

$

34.27 

 

$

28.69 

 

Total intrinsic value of vested RSUs (in thousands)

 

$

18,172 

 

$

7,117 

 

$

2,479 

 

  

Schedule of market performance based compensation restricted stock units (MSU) award activity

 

                                                                                                                                                                                    

 

 

Number of Shares
Underlying MSUs

 

Weighted
Average
Grant Date
Fair Value

 

 

 

(in thousands)

 

 

 

Balance as of December 31, 2014

 

 

 

$

 

MSUs Granted

 

 

240

 

 

37.53

 

MSUs Cancelled/Forfeited

 

 

(47

)

 

37.53

 

​  

​  

​  

​  

Balance as of December 31, 2015

 

 

193

 

$

37.53

 

​  

​  

​  

​  

​  

​  

​  

​  

  

Schedule of weighted average assumptions used to estimate fair value of market performance based compensation restricted stock units (MSU) awards

 

                                                                                                                                                                                    

 

 

For the Year
Ended
December 31, 2015

 

Expected term (in years)

 

 

 

Risk-free interest rate

 

 

0.99 

%

Expected volatility

 

 

39 

%

Expected dividend rate

 

 

%

 

Schedule of assumptions used to value employee stock purchase rights under the Black-Scholes model

 

                                                                                                                                                                                    

 

 

Year Ended December 31,

 

 

2015

 

2014

 

2013

Expected term (in months)

 

6

 

6 - 9

 

9

Risk-free interest rate

 

0.05% - 0.24%

 

0.05% - 0.11%

 

0.11%

Expected volatility

 

31% - 43%

 

41% - 43%

 

42%

Expected dividend rate

 

0%

 

0%

 

0%

 

Schedule of stock-based compensation expense included in operating results

 

                                                                                                                                                                                    

 

 

Year Ended December 31,

 

 

 

2015

 

2014

 

2013

 

 

 

(in thousands)

 

Cost of subscription and support revenue

 

$

2,691 

 

$

1,626 

 

$

496 

 

Cost of professional services and other revenue

 

 

4,320 

 

 

2,363 

 

 

690 

 

Research and development

 

 

7,637 

 

 

5,353 

 

 

2,084 

 

Sales and marketing

 

 

12,655 

 

 

8,860 

 

 

2,293 

 

General and administrative

 

 

11,879 

 

 

6,918 

 

 

2,512 

 

​  

​  

​  

​  

​  

​  

Total stock-based compensation expense

 

$

39,182 

 

$

25,120 

 

$

8,075 

 

​  

​  

​  

​  

​  

​  

​  

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​  

​  

​  

 

Schedule of total unrecognized compensation cost related to unvested awards not yet recognized under all equity compensation plans, adjusted for estimate forfeitures

 

                                                                                                                                                                                    

 

 

December 31, 2015

 

 

 

Unrecognized
Expense

 

Weighted Average
Expected
Recognition Period

 

 

 

(in thousands)

 

(in years)

 

Stock options

 

$

10,550 

 

 

1.36 

 

Restricted stock units and market stock units

 

 

66,546 

 

 

2.79 

 

Employee stock purchase plan

 

 

209 

 

 

0.13 

 

​  

​  

​  

​  

Total unrecognized stock-based compensation expense

 

$

77,305 

 

 

2.59 

 

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​