v3.7.0.1

Stockholders' Equity (Tables) | 12 Months Ended
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Apr. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Summary of Stock-Based Compensation Amounts Found on Company's Consolidated Statement of Operations | The following table presents the amount of stock-based compensation related to stock-based awards to employees on the Company’s consolidated statements of operations during the periods presented (in thousands):
| Year Ended April 30,
| 2017 |  | 2016 |  | 2015
Cost of revenue | $ | 1,734 |  |  | $ | 2,167 |  |  | $ | 1,517 |
Sales and marketing | 2,996 |  |  | 2,956 |  |  | 3,923 |
Research and development | 3,770 |  |  | 2,996 |  |  | 1,960 |
General and administrative | 7,782 |  |  | 6,967 |  |  | 4,677 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | 124 |
Stock-based expense | 16,282 |  |  | 15,086 |  |  | 12,201 |
Capitalized stock-based compensation | 495 |  |  | 488 |  |  | 601 |
Total stock-based compensation | 16,777 |  |  | 15,574 |  |  | 12,802 |
Assumptions Used to Estimate Fair Value of Option Pricing Model | The fair value of the Company’s options (excluding PSOs) was estimated at the date of grant using a Black-Scholes option pricing model with the following assumptions:
| Year Ended April 30,
| 2017 |  | 2016 |  | 2015
Expected volatility | 37% - 38% |  | 42% - 42% |  | 43% - 50%
Risk-free interest rate | 0.97% - 1.93% |  | 1.50% - 1.92% |  | 1.46% - 1.93%
Expected term (in years) | 3.81 - 4.58 |  | 6.00 |  | 6.00
Dividend yield | — |  | — |  | —
The fair value of the Company’s PSOs was estimated at the date of grant using a Black-Scholes option pricing model with the following assumptions:
| Year Ended April 30,
| 2017 |  | 2016 |  | 2015
Expected volatility | 38% - 40% |  | — |  | —
Risk-free interest rate | 1.04% - 1.13% |  | — |  | —
Expected term (in years) | 4.77 - 5.26 |  | — |  | —
Dividend yield | — |  | — |  | —
The fair value of the Company’s ESPP was estimated at the date of grant using a Black-Scholes option pricing model with the following assumptions:
| Year Ended April 30,
| 2017 |  | 2016 |  | 2015
Expected volatility | 38% - 51% |  | 30% - 57% |  | 36% - 57%
Risk-free interest rate | 0.46% - 0.89% |  | 0.10% - 0.46% |  | 0.05% - 0.11%
Expected term (in years) | 0.5 |  | 0.5 |  | 0.5
Dividend yield | — |  | — |  | —
Performance Stock Option and Stock Option Activity | Performance stock option activity for the year ended April 30, 2017 was as follows:
| Number of Options (in thousands) |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Balance as of April 30, 2016 | — |  |  | $ | — |  |  |  |  |
Options granted | 2,867 |  |  | 3.95 |  |  |  |  |
Options exercised | — |  |  | — |  |  |  |  |
Options expired and canceled | (2,028 | ) |  | 3.96 |  |  |  |  |
Balance as of April 30, 2017 | 839 |  |  | $ | 3.94 |  |  | 6.10 |  | $ | 638 |
Options vested and expected to vest at April 30, 2017 | 839 |  |  | $ | 3.94 |  |  | 6.10 |  | $ | 638 |
Options vested and exercisable as of April 30, 2017 | — |  |  | $ | — |  |  | 0.00 |  | $ | — |
The Company recognizes expense for PSOs that the Company determines are probable of vesting based on the grant date fair value. Adjustments to stock-based compensation expense are made each period based on changes in the Company’s estimate of the number of PSOs that are probable of vesting. The weighted-average grant date fair value of PSOs granted during the fiscal year ended April 30, 2017 was $1.45. No PSOs vested during the fiscal year ended April 30, 2017. As of April 30, 2017, total unrecognized stock-based expense, adjusted for estimated forfeitures, related to PSOs was$0.5 million, which is expected to be recognized over the next 3.09 years. Stock Option Activity Stock option activity was as follows:
| Number of Options (in thousands) |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Balance as of April 30, 2015 | 5,093 |  |  | 7.83 |  |  |  |  |
Options granted | 2,947 |  |  | 4.83 |  |  |  |  |
Options exercised | (227 | ) |  | 3.95 |  |  |  |  |
Options forfeited | (484 | ) |  | 7.42 |  |  |  |  |
Options expired and canceled | (641 | ) |  | 8.14 |  |  |  |  |
Balance as of April 30, 2016 | 6,688 |  |  | $ | 7.83 |  |  | 6.43 |  | $ | 591 |
Options granted | 749 |  |  | 4.25 |  |  |  |  |
Options exercised | (160 | ) |  | 2.36 |  |  |  |  |
Options forfeited | (503 | ) |  | 5.78 |  |  |  |  |
Options expired and canceled | (1,226 | ) |  | 9.81 |  |  |  |  |
Balance as of April 30, 2017 | 5,548 |  |  | $ | 5.82 |  |  | 6.42 |  | $ | 2,506 |
Options vested and expected to vest at April 30, 2017 | 5,548 |  |  | $ | 5.82 |  |  | 6.42 |  | $ | 2,506 |
Options vested and exercisable as of April 30, 2017 | 3,310 |  |  | $ | 6.46 |  |  | 5.98 |  | $ | 1,253 |
Summary of Stock Options | The summary of stock options excluding PSOs as of April 30, 2017 is as follows (number of options in thousands):
| Options Outstanding |  | Options Exercisable
Range of Exercise Prices | Number of Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (in years) |  | Number of Options |  | Weighted Average Exercise Price
$1.83 - $3.03 | 260 |  |  | $ | 2.46 |  |  | 3.00 |  | 219 |  |  | $ | 2.36 |
$3.15 - $3.15 | 838 |  |  | 3.15 |  |  | 5.84 |  | 415 |  |  | 3.15 |
$3.42 - $3.65 | 91 |  |  | 3.55 |  |  | 5.00 |  | 23 |  |  | 3.42 |
$3.94 - $3.94 | 300 |  |  | 3.94 |  |  | 6.10 |  | — |  |  | — |
$4.00 - $4.36 | 675 |  |  | 4.27 |  |  | 7.40 |  | 175 |  |  | 4.31 |
$4.70 - $6.28 | 547 |  |  | 5.26 |  |  | 6.10 |  | 378 |  |  | 5.18 |
$6.42 - $6.42 | 1,036 |  |  | 6.42 |  |  | 8.13 |  | 475 |  |  | 6.42 |
$6.54 - $7.39 | 662 |  |  | 6.90 |  |  | 5.59 |  | 621 |  |  | 6.88 |
$7.53 - $9.51 | 1,016 |  |  | 8.71 |  |  | 6.45 |  | 883 |  |  | 8.84 |
$9.52 - $18.67 | 123 |  |  | 13.59 |  |  | 5.08 |  | 121 |  |  | 13.63 |
$1.83 - $18.67 | 5,548 |  |  | $ | 5.82 |  |  | 6.42 |  | 3,310 |  |  | $ | 6.46 |
Restricted Stock Activity | Restricted stock activity was as follows (number of restricted shares in thousands):
|  | Number of Restricted Shares |  | Weighted Average Grant Date Fair Value
Unvested balance as of April 30, 2015 |  | 3,488 |  |  | $ | 7.88 |
Restricted shares granted |  | 3,863 |  |  | 5.93 |
Restricted shares vested |  | (964 | ) |  | 7.70 |
Restricted shares forfeited |  | (1,420 | ) |  | 7.16 |
Unvested balance as of April 30, 2016 |  | 4,967 |  |  | $ | 6.60 |
Restricted shares granted |  | 3,962 |  |  | 4.24 |
Restricted shares vested |  | (1,556 | ) |  | 6.71 |
Restricted shares forfeited |  | (945 | ) |  | 5.94 |
Unvested balance as of April 30, 2017 |  | 6,428 |  |  | $ | 5.22 |

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