EQUITY AWARD PLANS (Tables)
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12 Months Ended |
Jul. 31, 2017 |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| Schedule of RSUs Activity |
The Company’s summary of RSU activity under the Stock Plans is as follows: | | | | | | | | | Number of
Shares | | Grant Date Fair Value per Share | Outstanding—July 31, 2016 | 12,265,369 |
| | $ | 13.23 |
| Granted | 12,986,597 |
| | $ | 21.84 |
| Released | (6,146,169 | ) | | $ | 15.63 |
| Canceled/forfeited | (1,729,707 | ) | | $ | 13.57 |
| Outstanding—July 31, 2017 | 17,376,090 |
| | $ | 18.85 |
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| Schedule of Employee Stock Purchase Plan, Valuation Assumptions |
The Company uses the Black-Scholes option-pricing model to determine the fair value of shares purchased under the 2016 ESPP with the following weighted-average assumptions on the date of grant (on October 11, 2016 and April 5, 2017): | | | | | Fiscal Year Ended
July 31, 2017 | Expected term (in years) | 0.75 |
| Risk-free interest rate | 0.6 | % | Volatility | 51.0 | % | Dividend yield | — | % |
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| Schedule of Stock Option Activity |
The Company’s stock option activity under the Stock Plan is as follows: | | | | | | | | | | | | | | | | Options Outstanding | | Number of Shares | | | Weighted- Average Exercise Price | | Weighted- Average Remaining Contractual Life | | Aggregate Intrinsic Value | | | | | | | (In years) | | (In thousands) | Outstanding—August 1, 2016 | 26,166,968 |
| (1) | | $ | 4.39 |
| | 7.5 | | $ | 208,101 |
| Options granted | 1,047,950 |
| | | 12.14 |
| | | | | Options exercised | (4,786,381 | ) | | | 3.27 |
| | | | | Options canceled/forfeited | (2,094,006 | ) | | | 8.89 |
| | | | | Outstanding—July 31, 2017 | 20,334,531 |
| | | 4.59 |
| | 6.4 | | 338,787 |
| Exercisable—July 31, 2017 | 19,645,676 |
| | | 4.43 |
| | 6.3 | | 330,486 |
| Vested and expected to vest—July 31, 2017 | 20,334,531 |
| | | 4.59 |
| | 6.4 | | 338,787 |
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| | (1) | Includes 455,000 stock options with both service and performance conditions with a weighted-average fair value per share of $3.78 (the “Performance Stock Options”). Vesting of the Performance Stock Options was subject to continuous service with the Company (the “service condition”) and satisfaction of certain liquidity events of the Company (the “performance condition”). The Company recognized cumulative stock-based compensation expense related to the Performance Stock Options in the first quarter of fiscal year 2017 as the performance condition was met upon the Company's successful IPO. The cumulative stock-based compensation expense recorded in the first quarter of fiscal 2017 was for the portion of the awards for which the relevant service condition had been satisfied and the remaining expense is being recognized over the remaining service period. |
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| Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs |
Stock-Based Compensation—Total stock-based compensation expense recognized for stock awards granted under the equity award plans in the consolidated statements of operations is as follows (in thousands): | | | | | | | | | | | | | | Fiscal Year Ended July 31, | | 2015 | | 2016 | | 2017 | Cost of revenue: | | | | | | Product | $ | 363 |
| | $ | 391 |
| | $ | 3,066 |
| Support and other services | 718 |
| | 968 |
| | 10,411 |
| Sales and marketing | 6,474 |
| | 8,006 |
| | 78,117 |
| Research and development | 5,411 |
| | 6,259 |
| | 109,044 |
| General and administrative | 4,174 |
| | 4,432 |
| | 30,853 |
| Total stock-based compensation expense | $ | 17,140 |
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| $ | 20,056 |
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| $ | 231,491 |
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| Schedule Stock Option Valuation Assumptions |
The fair value of the Company’s stock options was estimated using the following weighted-average assumptions: | | | | | | | | | | | | | | Fiscal Year Ended July 31, | | 2015 | | 2016 | | 2017 | Fair value of common stock | $ | 10.29 |
| | $ | 14.81 |
| | $ | 12.14 |
| Expected term (in years) | 6.1 |
| | 6.1 |
| | 6.1 |
| Risk-free interest rate | 1.7 | % | | 1.6 | % | | 1.3 | % | Volatility | 46 | % | | 42 | % | | 52 | % | Dividend yield | — |
| | — |
| | — |
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