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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Infoblox Inc. | NYSE:BLOX | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 26.45 | 0 | 01:00:00 |
x
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
|
|
20-0062867
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification No.)
|
Title of Each Class
|
|
Name of Each Exchange on Which Registered
|
Common Stock, $0.0001 par value per share
|
|
New York Stock Exchange
|
|
|
|
Page
|
|
|
PART I
|
|
|
|
|
|
Item 1
|
|
||
Item 1A
|
|
||
Item 1B
|
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Item 2
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Item 3
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Item 4
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||
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PART II
|
|
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Item 5
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Item 6
|
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Item 7
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||
Item 7A
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Item 8
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Item 9
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Item 9A
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Item 9B
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PART III
|
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Item 10
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Item 11
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Item 12
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Item 13
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Item 14
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PART IV
|
|
|
|
|
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Item 15
|
|
||
ITEM 1.
|
BUSINESS
|
•
|
breadth of product offerings and features;
|
•
|
reliability;
|
•
|
product quality;
|
•
|
ease of use;
|
•
|
total cost of ownership;
|
•
|
performance;
|
•
|
scalability;
|
•
|
security;
|
•
|
flexibility and scalability of deployment;
|
•
|
interoperability with other products;
|
•
|
ability to be bundled with other vendor offerings; and
|
•
|
quality of service, support and fulfillment.
|
Name
|
|
Age
|
|
Position
|
Jesper Andersen
|
|
53
|
|
President, Chief Executive Officer and Director
|
Janesh Moorjani
|
|
43
|
|
Chief Financial Officer
|
Scott J. Fulton
|
|
47
|
|
Executive Vice President, Products
|
Ashish Gupta
|
|
46
|
|
Executive Vice President, Marketing
|
Atul Garg
|
|
60
|
|
Executive Vice President, Engineering
|
ITEM 1A.
|
RISK FACTORS
|
▪
|
the inherent complexity, length and associated unpredictability of our sales cycles, including the varying budgetary cycles and purchasing priorities of our end customers;
|
▪
|
the timing of revenue recognition as a result of guidance under United States generally accepted accounting principles, or GAAP;
|
▪
|
the loss or delay of any anticipated large sales in a given quarterly period.
|
•
|
fluctuations in demand for our products and services, including seasonal variations;
|
•
|
the timing of and rate and discounts at which customers replace older generations of products;
|
•
|
the mix of products, services and product solution configurations sold during the period;
|
•
|
the timing of the resale of our products sold to distributors for which we generally recognize revenue upon reported sell-through;
|
▪
|
the mix of distribution channels through which our products and services are sold;
|
▪
|
the timing and success of changes in our product offerings or those of our competitors;
|
▪
|
changes in our or our competitors' pricing policies or sales terms;
|
▪
|
the mix of products with subscription based pricing for which revenue is recognized ratably over multiple quarters as opposed to being recognized in the quarter of sale;
|
▪
|
the amount and timing of operating expenses related to the maintenance and expansion of our business, operations and infrastructure;
|
▪
|
our ability to control costs, including the costs of our third-party manufacturers;
|
▪
|
the ability to obtain sufficient supplies of components at acceptable prices, or at all;
|
▪
|
the timing of costs related to the development or acquisition of technologies or businesses;
|
▪
|
our inability to complete or integrate efficiently any acquisitions that we may undertake;
|
▪
|
the execution of our strategy and operating plans and the impact of changes in our business model that could result in significant restructuring charges;
|
▪
|
changes in the regulatory environment for our products domestically and internationally;
|
▪
|
claims of intellectual property infringement against us and any resulting temporary or permanent injunction prohibiting us from selling our products or requirement to pay damages or expenses associated with any of those claims; and
|
▪
|
general economic conditions in our domestic and international markets.
|
•
|
the timeliness of the introduction and delivery of our products and services or enhancements;
|
•
|
our failure or inability to predict changes in our industry or end customers' demands or to design products and services or enhancements or offer different purchase and licensing models that meet end customers' increasing demands;
|
•
|
defects, errors or failures in any of our products and services or enhancements;
|
•
|
the inability of our products and services and enhancements to interoperate effectively with products from other vendors or to operate successfully in the networks of prospective end customers;
|
•
|
negative publicity about the performance or effectiveness of our products and services or enhancements;
|
•
|
reluctance of end customers to purchase products that incorporate elements of open source software;
|
•
|
failure of our channel partners to market, support or distribute our products and services or enhancements effectively; and
|
•
|
changes in government or industry standards and criteria.
|
•
|
longer operating histories;
|
•
|
the capacity to leverage their sales efforts and marketing expenditures across a broader portfolio of products;
|
•
|
broader distribution and established relationships with channel partners;
|
•
|
access to larger end customer bases;
|
•
|
greater end customer support;
|
•
|
greater resources to make acquisitions;
|
•
|
larger intellectual property portfolios;
|
•
|
the ability to bundle competitive offerings with other products and services;
|
•
|
less stringent accounting requirements, resulting in greater flexibility in pricing and terms; and
|
•
|
lower labor and development costs.
|
•
|
implementation or remediation of controls, procedures and policies at the acquired company;
|
•
|
diversion of management time and focus from operating our business to addressing acquisition integration challenges;
|
•
|
coordination of product, engineering and sales and marketing functions;
|
•
|
transition of the acquired company’s operations, users and end customers onto our existing platforms;
|
•
|
retention of employees from the acquired company;
|
•
|
cultural challenges associated with integrating employees from the acquired company into our organization;
|
•
|
integration of the acquired company's accounting, management information, human resources and other administrative systems;
|
•
|
liability for activities of the acquired company before the acquisition, including patent and trademark infringement claims, violations of laws, commercial disputes, tax liabilities and other known and unknown liabilities;
|
•
|
litigation or other claims in connection with the acquired company, including claims from terminated employees, end customers, former stockholders or other third parties;
|
•
|
in the case of foreign acquisitions, the need to integrate operations across different cultures and languages and to address the particular economic, currency, political and regulatory risks associated with specific countries;
|
•
|
diversion of engineering resources away from development of our core products; and
|
•
|
failure to continue to develop the acquired technology successfully.
|
•
|
supplier capacity constraints;
|
•
|
price increases;
|
•
|
timely delivery;
|
•
|
component quality; and
|
•
|
natural disasters.
|
•
|
the difficulty of managing and staffing international offices and the increased travel, infrastructure and legal compliance costs associated with numerous international locations;
|
•
|
reduced demand for technology products outside the United States;
|
•
|
difficulties in enforcing contracts and collecting accounts receivable, and longer payment cycles, especially in emerging markets;
|
•
|
tariffs and trade barriers, export regulations and other regulatory or contractual limitations on our ability to sell or develop our products in certain foreign markets;
|
•
|
increased exposure to currency exchange rate risk;
|
•
|
heightened exposure to political instability, war and terrorism;
|
•
|
added legal compliance obligations and complexity;
|
•
|
reduced protection for intellectual property rights in some countries;
|
•
|
multiple conflicting tax laws and regulations;
|
•
|
the need to localize our products for international end customers; and
|
•
|
the increased cost of terminating employees in some countries.
|
•
|
difficulty hiring and retaining appropriate engineering personnel because of intense competition for engineers and resulting wage inflation;
|
•
|
difficulties regarding the transfer of knowledge related to our technology and resulting exposure to misappropriation of intellectual property or information that is proprietary to us, our end customers and other third parties;
|
•
|
heightened exposure to change in the economic, security and political conditions in developing countries;
|
•
|
fluctuations in currency exchange rates and difficulties of regulatory compliance in foreign countries; and
|
•
|
interruptions to our operations in India or Thailand as a result of typhoons, floods and other natural catastrophic events, as well as man-made problems such as power disruptions or terrorism.
|
•
|
increased price competition;
|
•
|
changes in end customer or product and service mix;
|
•
|
increased inbound shipping charges;
|
•
|
our inability to maintain or reduce the amount we pay our third-party manufacturers;
|
•
|
increases in material or labor costs;
|
•
|
increased costs of licensing third-party technologies that are used in our products;
|
•
|
carrying costs of excess inventory, inventory holding charges and obsolescence charges that may be passed through to us by our third-party manufacturers;
|
•
|
changes in our distribution channels or our arrangements with our distributors and VARs;
|
•
|
increased warranty and repair costs; and
|
•
|
the introduction of new appliance models, which may have lower margins than our existing products.
|
•
|
end customer procurement, budget and deployment cycles in the government and education sectors, which potentially result in stronger order flow in our second fiscal quarter;
|
•
|
one or more of our larger end customers with a December 31 fiscal year-end choosing to spend remaining budgets before their year-end, which potentially results in a positive impact on our product revenue in the second quarter of our fiscal year;
|
•
|
the timing of our annual training for the entire sales force in our first fiscal quarter, which, combined with fourth quarter sales, can potentially cause our first fiscal quarter to be seasonally weak, and
|
•
|
seasonal reductions in business activity during August in the United States, Europe and certain regions, which have a negative impact on our first fiscal quarter revenue.
|
•
|
fund our operations;
|
•
|
continue our research and development;
|
•
|
fund stock repurchases, including pursuant to our share repurchase program;
|
•
|
commercialize new products; or
|
•
|
acquire companies, in-licensed products or intellectual property.
|
•
|
market acceptance of our products and services;
|
•
|
the cost of our research and development activities;
|
•
|
the cost of defending, in litigation or otherwise, claims that we infringe third-party patents or violate other intellectual property rights;
|
•
|
the cost and timing of establishing additional sales, marketing and distribution capabilities;
|
•
|
the cost and timing of establishing additional technical support capabilities;
|
•
|
the effect of competing technological and market developments; and
|
•
|
the market for different types of funding and overall economic conditions.
|
•
|
changes in the valuation of our deferred tax assets;
|
•
|
foreign or domestic income tax assessments and any related tax interest or penalties;
|
•
|
expiration of, or lapses in, the research and development tax credit laws;
|
•
|
tax effects of nondeductible compensation;
|
•
|
adjustments to the pricing of intercompany transactions and transfers of intellectual property or other assets;
|
•
|
changes in accounting principles; or
|
•
|
changes in tax laws and regulations, including changes in taxation of the services provided by our foreign subsidiaries.
|
•
|
price and volume fluctuations in the overall stock market from time to time;
|
•
|
volatility in the market prices and trading volumes of high technology stocks;
|
•
|
changes in operating performance and stock market valuations of other technology companies generally, or those in our industry in particular;
|
•
|
sales of shares of our common stock by us or our stockholders;
|
•
|
failure of securities analysts to maintain coverage of us, changes in financial estimates by any securities analysts who follow our company, or our failure to meet these estimates or the expectations of investors;
|
•
|
the financial projections we may provide to the public, any changes in those projections or our failure to meet those projections;
|
•
|
announcements by us or our competitors of new products or new or terminated significant contracts, commercial relationships or capital commitments.
|
•
|
the public's reaction to our press releases, other public announcements and filings with the SEC;
|
•
|
rumors and market speculation involving us or other companies in our industry;
|
•
|
actual or anticipated changes in our results of operations or fluctuations in our operating results;
|
•
|
actual or anticipated developments in our business or our competitors' businesses or the competitive landscape generally;
|
•
|
litigation involving us, our industry or both or investigations by regulators into our operations or those of our competitors;
|
•
|
developments or disputes concerning our intellectual property or other proprietary rights;
|
•
|
announced or completed acquisitions of businesses or technologies by us or our competitors;
|
•
|
new laws or regulations or new interpretations of existing laws or regulations applicable to our business;
|
•
|
changes in accounting standards, policies, guidelines, interpretations or principles;
|
•
|
any major change in our management;
|
•
|
general economic conditions and slow or negative growth of our markets; and
|
•
|
other events or factors, including those resulting from war, incidents of terrorism or responses to these events.
|
•
|
provide for non-cumulative voting in the election of directors;
|
•
|
provide for a classified board of directors;
|
•
|
authorize our board of directors, without stockholder approval, to issue preferred stock with terms determined by our board of directors and to issue additional shares of our common stock;
|
•
|
provide that only our board of directors may set the number of directors constituting our board of directors or fill vacant directorships;
|
•
|
provide that stockholders may remove directors only for cause;
|
•
|
prohibit stockholder action by written consent and limit who may call a special meeting of stockholders; and
|
•
|
require advance notification of stockholder nominations for election to our board of directors and of stockholder proposals.
|
ITEM 1B.
|
UNRESOLVED STAFF COMMENTS
|
ITEM 2.
|
PROPERTIES
|
ITEM 3.
|
LEGAL PROCEEDINGS
|
ITEM 4.
|
MINE SAFETY DISCLOSURES
|
ITEM 5.
|
MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
|
|
Fiscal 2016
|
|
Fiscal 2015
|
||||||||||||
|
Low
|
|
High
|
|
Low
|
|
High
|
||||||||
Fourth quarter
|
$
|
15.31
|
|
|
$
|
19.75
|
|
|
$
|
22.95
|
|
|
$
|
27.94
|
|
Third quarter
|
$
|
14.20
|
|
|
$
|
17.13
|
|
|
$
|
18.75
|
|
|
$
|
25.02
|
|
Second quarter
|
$
|
14.06
|
|
|
$
|
19.10
|
|
|
$
|
15.86
|
|
|
$
|
20.93
|
|
First quarter
|
$
|
15.62
|
|
|
$
|
24.15
|
|
|
$
|
11.92
|
|
|
$
|
16.14
|
|
|
4/21/12
|
7/31/12
|
7/31/13
|
7/31/14
|
7/31/15
|
7/31/16
|
||||||||||||
Infoblox Inc.
|
$
|
100.00
|
|
$
|
98.64
|
|
$
|
153.52
|
|
$
|
56.94
|
|
$
|
110.33
|
|
$
|
87.89
|
|
NYSE Composite
|
$
|
100.00
|
|
$
|
98.80
|
|
$
|
123.94
|
|
$
|
141.71
|
|
$
|
147.20
|
|
$
|
149.79
|
|
NYSE TMT
|
$
|
100.00
|
|
$
|
101.15
|
|
$
|
115.91
|
|
$
|
136.76
|
|
$
|
141.92
|
|
$
|
148.31
|
|
Period
|
|
Total Number of Shares Purchased
|
|
Average Price Paid Per Share
|
|
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
|
|
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs
|
||||||
|
|
(in thousands)
|
|
|
|
(in thousands)
|
|
(in thousands)
|
||||||
May 1, 2016 to May 31, 2016
|
|
136
|
|
|
$
|
15.92
|
|
|
136
|
|
|
$
|
172,730
|
|
June 1, 2016 to June 30, 2016
|
|
1,001
|
|
|
$
|
18.64
|
|
|
1,001
|
|
|
$
|
154,065
|
|
July 1, 2016 to July 31, 2016
|
|
675
|
|
|
$
|
19.16
|
|
|
675
|
|
|
$
|
141,131
|
|
ITEM 6.
|
SELECTED FINANCIAL DATA
|
|
Year Ended July 31,
|
||||||||||||||||||
|
2016 (1)
|
|
2015 (2)
|
|
2014 (3)
|
|
2013 (4)
|
|
2012 (5)
|
||||||||||
|
(In thousands, except per-share amounts)
|
||||||||||||||||||
Net revenue
|
$
|
358,286
|
|
|
$
|
306,125
|
|
|
$
|
250,340
|
|
|
$
|
225,044
|
|
|
$
|
169,246
|
|
Cost of revenue
|
$
|
76,358
|
|
|
$
|
67,131
|
|
|
$
|
55,798
|
|
|
$
|
48,253
|
|
|
$
|
37,120
|
|
Gross profit
|
$
|
281,928
|
|
|
$
|
238,994
|
|
|
$
|
194,542
|
|
|
$
|
176,791
|
|
|
$
|
132,126
|
|
Operating expenses
|
$
|
298,693
|
|
|
$
|
264,419
|
|
|
$
|
217,522
|
|
|
$
|
179,929
|
|
|
$
|
138,646
|
|
Loss from operations
|
$
|
(16,765
|
)
|
|
$
|
(25,425
|
)
|
|
$
|
(22,980
|
)
|
|
$
|
(3,138
|
)
|
|
$
|
(6,520
|
)
|
Loss before provision for (benefit from) income taxes
|
$
|
(16,254
|
)
|
|
$
|
(26,076
|
)
|
|
$
|
(22,998
|
)
|
|
$
|
(3,756
|
)
|
|
$
|
(7,466
|
)
|
Provision for (benefit from) income taxes
|
$
|
(2,543
|
)
|
|
$
|
1,007
|
|
|
$
|
919
|
|
|
$
|
650
|
|
|
$
|
744
|
|
Net loss
|
$
|
(13,711
|
)
|
|
$
|
(27,083
|
)
|
|
$
|
(23,917
|
)
|
|
$
|
(4,406
|
)
|
|
$
|
(8,210
|
)
|
Net loss per share - basic and diluted (6):
|
$
|
(0.24
|
)
|
|
$
|
(0.48
|
)
|
|
$
|
(0.45
|
)
|
|
$
|
(0.09
|
)
|
|
$
|
(0.40
|
)
|
Weighted-average shares used in computing net loss per-share - basic and diluted (6):
|
58,080
|
|
|
56,626
|
|
|
53,581
|
|
|
48,494
|
|
|
20,563
|
|
|
|
As of July 31
|
||||||||||||||||||
|
|
2016
|
|
2015
|
|
2014
|
|
2013
|
|
2012
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
(In thousands)
|
||||||||||||||||||
Cash and cash equivalents
|
|
$
|
123,830
|
|
|
$
|
103,124
|
|
|
$
|
78,535
|
|
|
$
|
69,828
|
|
|
$
|
156,613
|
|
Short-term investments
|
|
$
|
134,275
|
|
|
$
|
227,712
|
|
|
$
|
191,316
|
|
|
$
|
139,508
|
|
|
$
|
—
|
|
Working capital
|
|
$
|
170,161
|
|
|
$
|
258,567
|
|
|
$
|
209,313
|
|
|
$
|
166,581
|
|
|
$
|
113,642
|
|
Total assets
|
|
$
|
449,103
|
|
|
$
|
459,267
|
|
|
$
|
380,568
|
|
|
$
|
320,460
|
|
|
$
|
242,983
|
|
Deferred revenue, net - current and long-term
|
|
$
|
175,904
|
|
|
$
|
136,847
|
|
|
$
|
116,113
|
|
|
$
|
98,172
|
|
|
$
|
76,667
|
|
Stockholders’ equity
|
|
$
|
218,508
|
|
|
$
|
275,152
|
|
|
$
|
229,296
|
|
|
$
|
189,553
|
|
|
$
|
142,075
|
|
ITEM 7.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|
|
|
Year Ended July 31,
|
||||||||||
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
|
|
|
|
|
|
||||||
|
|
(Dollars in thousands)
|
||||||||||
Net revenue
|
|
$
|
358,286
|
|
|
$
|
306,125
|
|
|
$
|
250,340
|
|
Deferred revenue, net (end of year)
|
|
$
|
175,904
|
|
|
$
|
136,847
|
|
|
$
|
116,113
|
|
Change in deferred revenue, net
|
|
$
|
39,057
|
|
|
$
|
20,734
|
|
|
$
|
17,941
|
|
Gross margin
|
|
78.7
|
%
|
|
78.1
|
%
|
|
77.7
|
%
|
|||
Loss from operations
|
|
$
|
(16,765
|
)
|
|
$
|
(25,425
|
)
|
|
$
|
(22,980
|
)
|
Operating margin
|
|
(4.7
|
%)
|
|
(8.3
|
%)
|
|
(9.2
|
%)
|
|||
Net cash provided by operating activities
|
|
$
|
68,111
|
|
|
$
|
48,011
|
|
|
$
|
46,308
|
|
|
|
Year Ended July 31,
|
||||||||||
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
|
|
|
|
|
|
||||||
|
|
(Dollars in thousands)
|
||||||||||
Gross Profit Reconciliation:
|
|
|
|
|
|
|
||||||
GAAP gross profit
|
|
$
|
281,928
|
|
|
$
|
238,994
|
|
|
$
|
194,542
|
|
Stock-based compensation
|
|
4,396
|
|
|
4,450
|
|
|
3,619
|
|
|||
Intangible asset amortization expense
|
|
1,973
|
|
|
1,160
|
|
|
1,110
|
|
|||
Non-GAAP gross profit
|
|
$
|
288,297
|
|
|
$
|
244,604
|
|
|
$
|
199,271
|
|
Gross Margin Reconciliation:
|
|
|
|
|
|
|
||||||
GAAP gross margin
|
|
78.7
|
%
|
|
78.1
|
%
|
|
77.7
|
%
|
|||
Stock-based compensation
|
|
1.2
|
|
|
1.5
|
|
|
1.4
|
|
|||
Intangible asset amortization expense
|
|
0.6
|
|
|
0.4
|
|
|
0.4
|
|
|||
Non-GAAP gross margin
|
|
80.5
|
%
|
|
80.0
|
%
|
|
79.5
|
%
|
|||
Income from Operations Reconciliation:
|
|
|
|
|
|
|
||||||
GAAP loss from operations
|
|
$
|
(16,765
|
)
|
|
$
|
(25,425
|
)
|
|
$
|
(22,980
|
)
|
Stock-based compensation
|
|
48,246
|
|
|
47,623
|
|
|
40,971
|
|
|||
Restructuring charges
|
|
5,657
|
|
|
—
|
|
|
—
|
|
|||
Amortization of intangible assets
|
|
2,704
|
|
|
2,173
|
|
|
2,418
|
|
|||
Expenses related to non-routine stockholder matters
|
|
464
|
|
|
—
|
|
|
—
|
|
|||
Acquisition related expenses
|
|
618
|
|
|
—
|
|
|
—
|
|
|||
Non-GAAP income from operations
|
|
$
|
40,924
|
|
|
$
|
24,371
|
|
|
$
|
20,409
|
|
Operating Margin Reconciliation:
|
|
|
|
|
|
|
||||||
GAAP operating margin
|
|
(4.7
|
)%
|
|
(8.3
|
%)
|
|
(9.2
|
%)
|
|||
Stock based compensation
|
|
13.5
|
|
|
15.6
|
|
|
16.4
|
|
|||
Restructuring charges
|
|
1.6
|
|
|
—
|
|
|
—
|
|
|||
Intangible asset amortization expense
|
|
0.7
|
|
|
0.7
|
|
|
0.9
|
|
|||
Expenses related to non-routine stockholder matters
|
|
0.1
|
|
|
—
|
|
|
—
|
|
|||
Acquisition related expenses
|
|
0.2
|
|
|
—
|
|
|
—
|
|
|||
Non-GAAP operating margin
|
|
11.4
|
%
|
|
8.0
|
%
|
|
8.1
|
%
|
|
|
Year Ended July 31,
|
||||||||||
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
|
|
|
|
|
|
||||||
|
|
(In thousands, except per share amounts)
|
||||||||||
Net Income Reconciliation:
|
|
|
|
|
|
|
||||||
GAAP net loss
|
|
$
|
(13,711
|
)
|
|
$
|
(27,083
|
)
|
|
$
|
(23,917
|
)
|
Stock-based compensation
|
|
48,246
|
|
|
47,623
|
|
|
40,971
|
|
|||
Restructuring charges
|
|
5,657
|
|
|
—
|
|
|
—
|
|
|||
Intangible asset amortization expense
|
|
2,704
|
|
|
2,173
|
|
|
2,418
|
|
|||
Expenses related to non-routine stockholder matters
|
|
464
|
|
|
—
|
|
|
—
|
|
|||
Acquisition related expense
|
|
618
|
|
|
—
|
|
|
—
|
|
|||
Income tax adjustment
|
|
(18,288
|
)
|
|
—
|
|
|
—
|
|
|||
Non-GAAP net income
|
|
$
|
25,690
|
|
|
$
|
22,713
|
|
|
$
|
19,472
|
|
|
|
|
|
|
|
|
||||||
GAAP Net Loss Per Share
|
|
$
|
(0.24
|
)
|
|
$
|
(0.48
|
)
|
|
$
|
(0.45
|
)
|
Non-GAAP EPS
|
|
$
|
0.43
|
|
|
$
|
0.38
|
|
|
$
|
0.34
|
|
Shares used in Calculating non-GAAP Diluted Net Income per Share Reconciliation:
|
|
|
|
|
|
|
||||||
Weighted-average shares outstanding used in calculating GAAP diluted net loss per share
|
|
58,080
|
|
|
56,626
|
|
|
53,581
|
|
|||
Additional dilutive securities for non-GAAP income
|
|
1,595
|
|
|
2,657
|
|
|
4,057
|
|
|||
Weighted-average shares outstanding used in calculating non-GAAP EPS
|
|
59,675
|
|
|
59,283
|
|
|
57,638
|
|
|
Year Ended July 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
|
|
|
|
|
||||||
|
(In thousands)
|
||||||||||
Cost of revenue
|
$
|
4,396
|
|
|
$
|
4,450
|
|
|
$
|
3,619
|
|
Research and development
|
11,033
|
|
|
10,828
|
|
|
7,375
|
|
|||
Sales and marketing
|
23,184
|
|
|
23,687
|
|
|
22,919
|
|
|||
General and administrative
|
9,633
|
|
|
8,658
|
|
|
7,058
|
|
|||
Total stock-based compensation
|
$
|
48,246
|
|
|
$
|
47,623
|
|
|
$
|
40,971
|
|
|
Year Ended July 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
|
|
|
|
|
||||||
|
(In thousands)
|
||||||||||
Cost of products and licenses revenue
|
$
|
1,973
|
|
|
$
|
1,160
|
|
|
$
|
1,110
|
|
Sales and marketing
|
731
|
|
|
1,013
|
|
|
1,308
|
|
|||
Total intangible asset amortization expense
|
$
|
2,704
|
|
|
$
|
2,173
|
|
|
$
|
2,418
|
|
|
Year Ended July 31,
|
|
Change in
|
|
Year Ended July 31,
|
|
Change in
|
||||||||||||||||||||||
|
2016
|
|
2015
|
|
$
|
|
%
|
|
2015
|
|
2014
|
|
$
|
|
%
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
(Dollars in thousands)
|
||||||||||||||||||||||||||||
Products and licenses
|
$
|
178,805
|
|
|
$
|
156,510
|
|
|
$
|
22,295
|
|
|
14.2
|
%
|
|
$
|
156,510
|
|
|
$
|
130,348
|
|
|
$
|
26,162
|
|
|
20.1
|
%
|
Services
|
179,481
|
|
|
149,615
|
|
|
29,866
|
|
|
20.0
|
%
|
|
149,615
|
|
|
119,992
|
|
|
29,623
|
|
|
24.7
|
%
|
||||||
Total net revenue
|
$
|
358,286
|
|
|
$
|
306,125
|
|
|
$
|
52,161
|
|
|
17.0
|
%
|
|
$
|
306,125
|
|
|
$
|
250,340
|
|
|
$
|
55,785
|
|
|
22.3
|
%
|
|
|
Year Ended July 31,
|
|
Change in
|
|
Year Ended July 31,
|
|
Change in
|
||||||||||||||||||||||
|
|
2016
|
|
2015
|
|
$
|
|
%
|
|
2015
|
|
2014
|
|
$
|
|
%
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
|
(Dollars in thousands)
|
||||||||||||||||||||||||||||
Products and licenses gross profit
|
|
$
|
141,090
|
|
|
$
|
121,148
|
|
|
$
|
19,942
|
|
|
|
|
$
|
121,148
|
|
|
$
|
101,021
|
|
|
$
|
20,127
|
|
|
|
||
Products and licenses gross margin
|
|
78.9
|
%
|
|
77.4
|
%
|
|
|
|
1.5
|
|
|
77.4
|
%
|
|
77.5
|
%
|
|
|
|
(0.1
|
)
|
||||||||
Services gross profit
|
|
$
|
140,838
|
|
|
$
|
117,846
|
|
|
$
|
22,992
|
|
|
|
|
$
|
117,846
|
|
|
$
|
93,521
|
|
|
$
|
24,325
|
|
|
|
||
Services gross margin
|
|
78.5
|
%
|
|
78.8
|
%
|
|
|
|
(0.3
|
)
|
|
78.8
|
%
|
|
77.9
|
%
|
|
|
|
0.9
|
|
||||||||
Total gross profit
|
|
$
|
281,928
|
|
|
$
|
238,994
|
|
|
$
|
42,934
|
|
|
|
|
$
|
238,994
|
|
|
$
|
194,542
|
|
|
$
|
44,452
|
|
|
|
||
Total gross margin
|
|
78.7
|
%
|
|
78.1
|
%
|
|
|
|
0.6
|
|
|
78.1
|
%
|
|
77.7
|
%
|
|
|
|
0.4
|
|
|
|
Year Ended July 31,
|
|
Change in
|
|
Year Ended July 31,
|
|
Change in
|
||||||||||||||||||||||
|
|
2016
|
|
2015
|
|
$
|
|
%
|
|
2015
|
|
2014
|
|
$
|
|
%
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
|
(Dollars in thousands)
|
||||||||||||||||||||||||||||
Research and development
|
|
$
|
70,034
|
|
|
$
|
65,092
|
|
|
$
|
4,942
|
|
|
7.6
|
%
|
|
$
|
65,092
|
|
|
$
|
49,289
|
|
|
$
|
15,803
|
|
|
32.1
|
%
|
Sales and marketing
|
|
178,983
|
|
|
162,217
|
|
|
16,766
|
|
|
10.3
|
%
|
|
162,217
|
|
|
138,612
|
|
|
23,605
|
|
|
17.0
|
%
|
||||||
General and administrative
|
|
44,019
|
|
|
37,110
|
|
|
6,909
|
|
|
18.6
|
%
|
|
37,110
|
|
|
29,621
|
|
|
7,489
|
|
|
25.3
|
%
|
||||||
Restructuring charges
|
|
5,657
|
|
|
—
|
|
|
5,657
|
|
|
100.0
|
%
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
%
|
||||||
Total operating expenses
|
|
$
|
298,693
|
|
|
$
|
264,419
|
|
|
$
|
34,274
|
|
|
13.0
|
%
|
|
$
|
264,419
|
|
|
$
|
217,522
|
|
|
$
|
46,897
|
|
|
21.6
|
%
|
|
|
Year Ended July 31,
|
|
Change in
|
|
Year Ended July 31,
|
|
Change in
|
||||||||||||||||||||||
|
|
2016
|
|
2015
|
|
$
|
|
%
|
|
2015
|
|
2014
|
|
$
|
|
%
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
|
(Dollars in thousands)
|
||||||||||||||||||||||||||||
Other income (expense), net
|
|
$
|
511
|
|
|
$
|
(651
|
)
|
|
$
|
1,162
|
|
|
(178.5
|
%)
|
|
$
|
(651
|
)
|
|
$
|
(18
|
)
|
|
$
|
(633
|
)
|
|
3,516.7
|
%
|
|
|
Year Ended July 31,
|
|
Change in
|
|
Year Ended July 31,
|
|
Change in
|
||||||||||||||||||||||
|
|
2016
|
|
2015
|
|
$
|
|
%
|
|
2015
|
|
2014
|
|
$
|
|
%
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
|
(Dollars in thousands)
|
||||||||||||||||||||||||||||
Provision for (benefit from) income taxes
|
|
$
|
(2,543
|
)
|
|
$
|
1,007
|
|
|
$
|
(3,550
|
)
|
|
(352.5
|
%)
|
|
$
|
1,007
|
|
|
$
|
919
|
|
|
$
|
88
|
|
|
9.6
|
%
|
|
July 31, 2016
|
|
July 31, 2015
|
|
$ Change
|
|
% Change
|
|||||||
|
|
|
|
|
|
|
|
|||||||
|
(In thousands)
|
|
|
|||||||||||
Cash and cash equivalents
|
$
|
123,830
|
|
|
$
|
103,124
|
|
|
$
|
20,706
|
|
|
20.1
|
%
|
Short-term investments
|
134,275
|
|
|
227,712
|
|
|
(93,437
|
)
|
|
(41.0
|
)%
|
|||
Total cash, cash equivalents and short-term investments
|
$
|
258,105
|
|
|
$
|
330,836
|
|
|
$
|
(72,731
|
)
|
|
(22.0
|
)%
|
|
|
|
|
|
|
|
|
|||||||
Working capital
|
$
|
170,161
|
|
|
$
|
258,567
|
|
|
$
|
(88,406
|
)
|
|
(34.2
|
)%
|
|
|
Year Ended July 31,
|
||||||||||||
|
|
2016
|
|
2015
|
|
2014
|
||||||||
|
|
|
|
|
|
|
||||||||
|
|
(In thousands)
|
||||||||||||
Net cash provided by operating activities
|
|
$
|
68,111
|
|
—
|
|
$
|
48,011
|
|
—
|
|
$
|
46,308
|
|
Net cash provided by (used in) investing activities
|
|
$
|
44,618
|
|
|
$
|
(47,149
|
)
|
|
$
|
(59,764
|
)
|
||
Net cash provided by (used in) financing activities
|
|
$
|
(91,981
|
)
|
|
$
|
25,246
|
|
|
$
|
22,163
|
|
|
Payments Due by Period
|
||||||||||||||||||||||||||
|
Total
|
|
2017
|
|
2018
|
|
2019
|
|
2020
|
|
2021
|
|
2022 and Thereafter
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
(In thousands)
|
||||||||||||||||||||||||||
Contractual Obligations(1):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Operating lease obligations(2)
|
$
|
22,052
|
|
|
$
|
5,328
|
|
|
$
|
4,770
|
|
|
$
|
4,573
|
|
|
$
|
4,564
|
|
|
$
|
2,571
|
|
|
$
|
246
|
|
Purchase commitments(3)
|
7,346
|
|
|
7,346
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Total
|
$
|
29,398
|
|
|
$
|
12,674
|
|
|
$
|
4,770
|
|
|
$
|
4,573
|
|
|
$
|
4,564
|
|
|
$
|
2,571
|
|
|
$
|
246
|
|
(1)
|
The contractual obligations table excludes tax liabilities of
$4.7 million
related to uncertain tax positions because we are unable to make a reasonably reliable estimate of the timing of settlement, if any, of these future payments.
|
(2)
|
Operating lease obligations represent our obligations to make payments under non-cancelable lease agreements for our facilities.
|
(3)
|
Purchase commitments are contractual obligations to purchase inventory from our third-party contract manufacturers and suppliers in advance of anticipated sales.
|
ITEM 7A.
|
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
|
ITEM 8.
|
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
|
|
Page
|
|
|
/s/ Ernst & Young LLP
|
San Jose, California
|
|
|
September 22, 2016
|
|
|
|
|
/s/ Ernst & Young LLP
|
San Jose, California
|
|
|
September 22, 2016
|
|
|
/s/ Jesper Andersen
|
|
/s/ Janesh Moorjani
|
Jesper Andersen
|
|
Janesh Moorjani
|
President and Chief Executive Officer
(Principal Executive Officer)
|
|
Chief Financial Officer
(Principal Financial Officer)
|
September 22, 2016
|
|
September 22, 2016
|
|
As of July 31,
|
||||||
|
2016
|
|
2015
|
||||
ASSETS
|
|
|
|
||||
CURRENT ASSETS:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
123,830
|
|
|
$
|
103,124
|
|
Short-term investments
|
134,275
|
|
|
227,712
|
|
||
Accounts receivable, net of allowances of $844 at July 31, 2016 and $446 at July 31, 2015
|
59,937
|
|
|
45,881
|
|
||
Inventory
|
6,045
|
|
|
8,588
|
|
||
Prepaid expenses and other current assets
|
12,588
|
|
|
10,459
|
|
||
Total current assets
|
336,675
|
|
|
395,764
|
|
||
Property and equipment, net
|
22,004
|
|
|
23,225
|
|
||
Restricted cash
|
10,030
|
|
|
3,515
|
|
||
Intangible assets, net
|
20,119
|
|
|
1,923
|
|
||
Goodwill
|
58,965
|
|
|
33,293
|
|
||
Other assets
|
1,310
|
|
|
1,547
|
|
||
TOTAL ASSETS
|
$
|
449,103
|
|
|
$
|
459,267
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY
|
|
|
|
||||
CURRENT LIABILITIES:
|
|
|
|
||||
Accounts payable and accrued liabilities
|
$
|
25,871
|
|
|
$
|
19,136
|
|
Accrued compensation
|
18,420
|
|
|
22,931
|
|
||
Deferred revenue, net
|
122,223
|
|
|
95,130
|
|
||
Total current liabilities
|
166,514
|
|
|
137,197
|
|
||
Deferred revenue, net
|
53,681
|
|
|
41,717
|
|
||
Other liabilities
|
10,400
|
|
|
5,201
|
|
||
TOTAL LIABILITIES
|
230,595
|
|
|
184,115
|
|
||
Commitments and contingencies (Note 9)
|
|
|
|
||||
STOCKHOLDERS' EQUITY:
|
|
|
|
||||
Convertible preferred stock, $0.0001 par value per share—5,000 shares authorized; no shares issued or outstanding
|
—
|
|
|
—
|
|
||
Common stock, $0.0001 par value per share—100,000 shares authorized; 55,973 shares and 58,836 shares issued and outstanding as of July 31, 2016 and July 31, 2015
|
6
|
|
|
6
|
|
||
Additional paid-in capital
|
459,811
|
|
|
438,725
|
|
||
Accumulated other comprehensive income (loss)
|
30
|
|
|
(37
|
)
|
||
Accumulated deficit
|
(241,339
|
)
|
|
(163,542
|
)
|
||
TOTAL STOCKHOLDERS' EQUITY
|
218,508
|
|
|
275,152
|
|
||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
|
$
|
449,103
|
|
|
$
|
459,267
|
|
|
Year Ended July 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
|
|
|
|
|
||||||
Net revenue:
|
|
|
|
|
|
||||||
Products and licenses
|
$
|
178,805
|
|
|
$
|
156,510
|
|
|
$
|
130,348
|
|
Services
|
179,481
|
|
|
149,615
|
|
|
119,992
|
|
|||
Total net revenue
|
358,286
|
|
|
306,125
|
|
|
250,340
|
|
|||
Cost of revenue:
|
|
|
|
|
|
||||||
Products and licenses
|
37,715
|
|
|
35,362
|
|
|
29,327
|
|
|||
Services
|
38,643
|
|
|
31,769
|
|
|
26,471
|
|
|||
Total cost of revenue
|
76,358
|
|
|
67,131
|
|
|
55,798
|
|
|||
Gross profit
|
281,928
|
|
|
238,994
|
|
|
194,542
|
|
|||
Operating expenses:
|
|
|
|
|
|
||||||
Research and development
|
70,034
|
|
|
65,092
|
|
|
49,289
|
|
|||
Sales and marketing
|
178,983
|
|
|
162,217
|
|
|
138,612
|
|
|||
General and administrative
|
44,019
|
|
|
37,110
|
|
|
29,621
|
|
|||
Restructuring charges
|
5,657
|
|
|
—
|
|
|
—
|
|
|||
Total operating expenses
|
298,693
|
|
|
264,419
|
|
|
217,522
|
|
|||
Loss from operations
|
(16,765
|
)
|
|
(25,425
|
)
|
|
(22,980
|
)
|
|||
Other income (expense), net
|
511
|
|
|
(651
|
)
|
|
(18
|
)
|
|||
Loss before provision for (benefit from) income taxes
|
(16,254
|
)
|
|
(26,076
|
)
|
|
(22,998
|
)
|
|||
Provision for (benefit from) income taxes
|
(2,543
|
)
|
|
1,007
|
|
|
919
|
|
|||
Net loss
|
$
|
(13,711
|
)
|
|
$
|
(27,083
|
)
|
|
$
|
(23,917
|
)
|
|
|
|
|
|
|
||||||
Net loss per share - basic and diluted
|
$
|
(0.24
|
)
|
|
$
|
(0.48
|
)
|
|
$
|
(0.45
|
)
|
|
|
|
|
|
|
||||||
Weighted-average shares used in computing net loss per share - basic and diluted
|
58,080
|
|
|
56,626
|
|
|
53,581
|
|
|
|
Year Ended July 31,
|
||||||||||
|
|
2016
|
|
2015
|
|
2014
|
||||||
Net loss
|
|
$
|
(13,711
|
)
|
|
$
|
(27,083
|
)
|
|
$
|
(23,917
|
)
|
Other comprehensive gain (loss)
|
|
|
|
|
|
|
||||||
Unrealized holding gain (loss) on short-term investments, net
|
|
67
|
|
|
47
|
|
|
(73
|
)
|
|||
Comprehensive loss
|
|
$
|
(13,644
|
)
|
|
$
|
(27,036
|
)
|
|
$
|
(23,990
|
)
|
|
|
Common Stock
|
|
|
|
|
|
|
|
|
|||||||||||||
|
|
Shares
|
|
Amount
|
|
Additional Paid-in Capital
|
|
Accumulated other Comprehensive Loss
|
|
Accumulated Deficit
|
|
Total Stockholders’ Equity
|
|||||||||||
Balance at July 31, 2013
|
|
51,670
|
|
|
$
|
5
|
|
|
$
|
302,101
|
|
|
$
|
(11
|
)
|
|
$
|
(112,542
|
)
|
|
$
|
189,553
|
|
Stock-based compensation
|
|
—
|
|
|
—
|
|
|
40,934
|
|
|
—
|
|
|
—
|
|
|
40,934
|
|
|||||
Issuance of common stock upon exercise of stock options
|
|
2,052
|
|
|
1
|
|
|
13,834
|
|
|
—
|
|
|
—
|
|
|
13,835
|
|
|||||
Issuance of common stock in connection with the employee stock purchase plan
|
|
644
|
|
|
—
|
|
|
8,161
|
|
|
—
|
|
|
—
|
|
|
8,161
|
|
|||||
Restricted stock units issued in connection with business acquisition
|
|
18
|
|
|
—
|
|
|
573
|
|
|
—
|
|
|
—
|
|
|
573
|
|
|||||
Excess tax benefit from employee stock plans
|
|
—
|
|
|
—
|
|
|
170
|
|
|
—
|
|
|
—
|
|
|
170
|
|
|||||
Vesting of early exercised stock options
|
|
—
|
|
|
—
|
|
|
60
|
|
|
—
|
|
|
—
|
|
|
60
|
|
|||||
Issuance of common stock upon vesting of restricted stock units
|
|
681
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Net unrealized holding loss on short-term investments
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(73
|
)
|
|
—
|
|
|
(73
|
)
|
|||||
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(23,917
|
)
|
|
(23,917
|
)
|
|||||
Balance at July 31, 2014
|
|
55,065
|
|
|
$
|
6
|
|
|
$
|
365,833
|
|
|
$
|
(84
|
)
|
|
$
|
(136,459
|
)
|
|
$
|
229,296
|
|
Stock-based compensation
|
|
—
|
|
|
—
|
|
|
47,597
|
|
|
—
|
|
|
—
|
|
|
47,597
|
|
|||||
Issuance of common stock upon exercise of stock options
|
|
1,919
|
|
|
—
|
|
|
16,629
|
|
|
—
|
|
|
—
|
|
|
16,629
|
|
|||||
Issuance of common stock in connection with the ESPP
|
|
745
|
|
|
—
|
|
|
8,435
|
|
|
|
|
|
|
8,435
|
|
|||||||
Excess tax benefit from employee stock plans
|
|
—
|
|
|
—
|
|
|
207
|
|
|
—
|
|
|
—
|
|
|
207
|
|
|||||
Vesting of early exercised common stock options
|
|
—
|
|
|
—
|
|
|
24
|
|
|
—
|
|
|
—
|
|
|
24
|
|
|||||
Issuance of common stock upon vesting of restricted stock units
|
|
1,107
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Net unrealized holding gain on short-term investments
|
|
—
|
|
|
—
|
|
|
—
|
|
|
47
|
|
|
—
|
|
|
47
|
|
|||||
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(27,083
|
)
|
|
(27,083
|
)
|
|||||
Balance at July 31, 2015
|
|
58,836
|
|
|
$
|
6
|
|
|
$
|
438,725
|
|
|
$
|
(37
|
)
|
|
$
|
(163,542
|
)
|
|
$
|
275,152
|
|
Stock-based compensation
|
|
—
|
|
|
—
|
|
|
48,415
|
|
|
—
|
|
|
—
|
|
|
48,415
|
|
|||||
Common stock repurchases
|
|
(6,346
|
)
|
|
—
|
|
|
(44,782
|
)
|
|
—
|
|
|
(64,086
|
)
|
|
(108,868
|
)
|
|||||
Issuance of common stock upon exercise of stock options
|
|
886
|
|
|
—
|
|
|
7,513
|
|
|
—
|
|
|
—
|
|
|
7,513
|
|
|||||
Issuance of common stock in connection with the ESPP
|
|
788
|
|
|
—
|
|
|
9,735
|
|
|
—
|
|
|
—
|
|
|
9,735
|
|
|||||
Issuance of common stock upon vesting of restricted stock units
|
|
1,809
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Excess tax benefit from employee stock plans
|
|
—
|
|
|
—
|
|
|
205
|
|
|
—
|
|
|
—
|
|
|
205
|
|
|||||
Net unrealized holding gain on short-term investments
|
|
—
|
|
|
—
|
|
|
—
|
|
|
67
|
|
|
—
|
|
|
67
|
|
|||||
Net loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(13,711
|
)
|
|
(13,711
|
)
|
|||||
Balance at July 31, 2016
|
|
55,973
|
|
|
$
|
6
|
|
|
$
|
459,811
|
|
|
$
|
30
|
|
|
$
|
(241,339
|
)
|
|
$
|
218,508
|
|
|
Year Ended July 31,
|
||||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
|
|
|
|
|
||||||||
Net loss
|
$
|
(13,711
|
)
|
|
$
|
(27,083
|
)
|
|
$
|
(23,917
|
)
|
||
Adjustments to reconcile net loss to net cash provided by operating activities:
|
|
|
|
|
|
||||||||
Stock-based compensation
|
48,246
|
|
—
|
|
47,623
|
|
—
|
|
40,971
|
|
|||
Depreciation and amortization
|
11,654
|
|
—
|
|
8,888
|
|
—
|
|
8,735
|
|
|||
Excess tax benefits from employee stock plans
|
(205
|
)
|
|
(207
|
)
|
|
(170
|
)
|
|||||
Deferred income taxes
|
(3,658
|
)
|
|
—
|
|
|
—
|
|
|||||
Other
|
953
|
|
|
2,096
|
|
|
827
|
|
|||||
Changes in operating assets and liabilities:
|
|
|
|
|
|
||||||||
Accounts receivable, net
|
(13,810
|
)
|
—
|
|
(9,461
|
)
|
|
2,308
|
|
||||
Inventory
|
2,449
|
|
—
|
|
(2,615
|
)
|
|
(1,867
|
)
|
||||
Prepaid expenses, other current assets and other assets
|
825
|
|
—
|
|
(3,629
|
)
|
|
(1,500
|
)
|
||||
Accounts payable and accrued liabilities
|
4,817
|
|
—
|
|
2,833
|
|
|
3,061
|
|
||||
Accrued compensation
|
(4,511
|
)
|
—
|
|
9,734
|
|
|
725
|
|
||||
Deferred revenue, net
|
36,075
|
|
—
|
|
20,734
|
|
|
17,927
|
|
||||
Other liabilities
|
(1,013
|
)
|
—
|
|
(902
|
)
|
|
(792
|
)
|
||||
Net cash provided by operating activities
|
68,111
|
|
|
48,011
|
|
|
46,308
|
|
|||||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
|
|
|
|
|
||||||||
Purchases of short-term investments
|
(29,905
|
)
|
|
(147,137
|
)
|
|
(186,322
|
)
|
|||||
Proceeds from maturities of short-term investments
|
122,880
|
|
|
109,290
|
|
|
86,730
|
|
|||||
Proceeds from sales of short-term investments
|
—
|
|
|
1,001
|
|
|
47,180
|
|
|||||
Purchases of property and equipment
|
(8,318
|
)
|
|
(10,303
|
)
|
|
(6,352
|
)
|
|||||
Business acquisition, net of cash acquired
|
(31,531
|
)
|
|
—
|
|
|
(1,000
|
)
|
|||||
Change in restricted cash
|
(8,508
|
)
|
|
—
|
|
|
—
|
|
|||||
Net cash provided by (used in) investing activities
|
44,618
|
|
|
(47,149
|
)
|
|
(59,764
|
)
|
|||||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
|
|
|
|
|
||||||||
Common stock repurchases
|
(108,868
|
)
|
|
—
|
|
|
—
|
|
|||||
Proceeds from issuance of common stock under the employee stock plans
|
17,248
|
|
|
25,039
|
|
|
21,993
|
|
|||||
Settlement of hold back liability related to IID acquisition
|
(566
|
)
|
|
—
|
|
|
—
|
|
|||||
Excess tax benefits from employee stock plans
|
205
|
|
|
207
|
|
|
170
|
|
|||||
Net cash provided by (used in) financing activities
|
(91,981
|
)
|
|
25,246
|
|
|
22,163
|
|
|||||
Effect of foreign exchange rate changes on cash and cash equivalents
|
(42
|
)
|
|
(1,519
|
)
|
|
—
|
|
|||||
NET INCREASE IN CASH AND CASH EQUIVALENTS
|
20,706
|
|
|
24,589
|
|
|
8,707
|
|
|||||
CASH AND CASH EQUIVALENTS - Beginning of year
|
103,124
|
|
|
78,535
|
|
|
69,828
|
|
|||||
CASH AND CASH EQUIVALENTS - End of year
|
$
|
123,830
|
|
|
$
|
103,124
|
|
|
$
|
78,535
|
|
||
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
|
|
|
|
|
|
||||||||
Purchases of property and equipment not yet paid
|
$
|
542
|
|
|
$
|
1,341
|
|
|
$
|
484
|
|
||
Cash paid for income taxes, net
|
$
|
727
|
|
|
$
|
483
|
|
|
$
|
489
|
|
||
Restricted stock units released in connection with business acquisition
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
573
|
|
NOTE 1.
|
DESCRIPTION OF THE BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
|
NOTE 2.
|
NET INCOME (LOSS) PER SHARE
|
|
Year Ended July 31,
|
|||||||
|
2016
|
|
2015
|
|
2014
|
|||
|
(In thousands)
|
|||||||
Stock options to purchase common stock
|
2,134
|
|
|
3,155
|
|
|
3,629
|
|
Restricted stock units
|
2,060
|
|
|
2,077
|
|
|
1,745
|
|
Employee stock purchase plan
|
290
|
|
|
139
|
|
|
380
|
|
NOTE 3.
|
CASH EQUIVALENTS, SHORT-TERM INVESTMENTS, RESTRICTED CASH AND FAIR VALUE MEASUREMENTS
|
|
|
Amortized Cost
|
|
Unrealized Gains
|
|
Unrealized Losses
|
|
Estimated Fair Value
|
||||||||
|
|
|
|
|
|
|
|
|
||||||||
|
|
(In thousands)
|
||||||||||||||
Cash equivalents:
|
|
|
|
|
|
|
|
|
||||||||
Money market funds
|
|
$
|
8,749
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
8,749
|
|
Short-term investments:
|
|
|
|
|
|
|
|
|
||||||||
U.S. Treasury securities
|
|
104,974
|
|
|
39
|
|
|
(7
|
)
|
|
105,006
|
|
||||
U.S. government agency securities
|
|
16,551
|
|
|
2
|
|
|
(6
|
)
|
|
16,547
|
|
||||
FDIC-backed certificates of deposit
|
|
12,720
|
|
|
6
|
|
|
(4
|
)
|
|
12,722
|
|
||||
Total short-term investments
|
|
134,245
|
|
|
47
|
|
|
(17
|
)
|
|
134,275
|
|
||||
Restricted cash:
|
|
|
|
|
|
|
|
|
||||||||
Money market funds
|
|
3,425
|
|
|
—
|
|
|
—
|
|
|
3,425
|
|
||||
Total cash equivalents, short-term investments and restricted cash
|
|
$
|
146,419
|
|
|
$
|
47
|
|
|
$
|
(17
|
)
|
|
$
|
146,449
|
|
|
|
Amortized Cost
|
|
Estimated Fair Value
|
||||
|
|
|
|
|
||||
|
|
(In thousands)
|
||||||
Due within one year
|
|
$
|
109,521
|
|
|
$
|
109,550
|
|
Due after one year through two years
|
|
24,724
|
|
|
24,725
|
|
||
Total
|
|
$
|
134,245
|
|
|
$
|
134,275
|
|
|
|
Amortized Cost
|
|
Unrealized Gains
|
|
Unrealized Losses
|
|
Estimated Fair Value
|
||||||||
|
|
|
|
|
|
|
|
|
||||||||
|
|
(In thousands)
|
||||||||||||||
Cash equivalents:
|
|
|
|
|
|
|
|
|
||||||||
Money market funds
|
|
$
|
5,695
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
5,695
|
|
Short-term investments:
|
|
|
|
|
|
|
|
|
||||||||
U.S. Treasury securities
|
|
162,718
|
|
|
50
|
|
|
(58
|
)
|
|
162,710
|
|
||||
U.S. government agency securities
|
|
42,468
|
|
|
9
|
|
|
(10
|
)
|
|
42,467
|
|
||||
FDIC-backed certificates of deposit
|
|
22,560
|
|
|
7
|
|
|
(32
|
)
|
|
22,535
|
|
||||
Total short-term investments
|
|
227,746
|
|
|
66
|
|
|
(100
|
)
|
|
227,712
|
|
||||
Restricted cash:
|
|
|
|
|
|
|
|
|
||||||||
Money market funds
|
|
3,416
|
|
|
1
|
|
|
(4
|
)
|
|
3,413
|
|
||||
Total cash equivalents, short-term investments and restricted cash
|
|
$
|
236,857
|
|
|
$
|
67
|
|
|
$
|
(104
|
)
|
|
$
|
236,820
|
|
|
|
Fair Value Measurements at July 31, 2016 Using:
|
||||||||||||||
|
|
Quoted Prices in Active Markets For Identical Assets
|
|
Significant Other Observable Remaining Inputs
|
|
Significant Other Unobservable Remaining Inputs
|
|
|
||||||||
|
|
(Level I)
|
|
(Level II)
|
|
(Level III)
|
|
Total
|
||||||||
|
|
|
|
|
|
|
|
|
||||||||
|
|
(In thousands)
|
||||||||||||||
Financial Assets
|
|
|
|
|
|
|
|
|
||||||||
Reported as cash equivalents:
|
|
|
|
|
|
|
|
|
||||||||
Money market funds
|
|
$
|
8,749
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
8,749
|
|
Reported as short-term investments:
|
|
|
|
|
|
|
|
|
||||||||
U.S. Treasury securities
|
|
105,006
|
|
|
—
|
|
|
—
|
|
|
105,006
|
|
||||
U.S. government agency securities
|
|
—
|
|
|
16,547
|
|
|
—
|
|
|
16,547
|
|
||||
FDIC-backed certificates of deposit
|
|
—
|
|
|
12,722
|
|
|
—
|
|
|
12,722
|
|
||||
Total short-term investments
|
|
105,006
|
|
|
29,269
|
|
|
—
|
|
|
134,275
|
|
||||
Reported as restricted cash:
|
|
|
|
|
|
|
|
|
||||||||
Money market funds
|
|
3,425
|
|
|
—
|
|
|
—
|
|
|
3,425
|
|
||||
Total financial assets
|
|
$
|
117,180
|
|
|
$
|
29,269
|
|
|
$
|
—
|
|
|
$
|
146,449
|
|
NOTE 4.
|
BALANCE SHEET COMPONENTS
|
|
Balance at Beginning of Year
|
|
Charged to (Reversed From) Cost and Expenses or Revenue
|
|
Deductions
|
|
Balance at End of Year
|
||||||||
|
(In thousands)
|
||||||||||||||
Year Ended July 31, 2014
|
|
|
|
|
|
|
|
||||||||
Allowance for doubtful accounts
|
$
|
356
|
|
|
$
|
72
|
|
|
$
|
(89
|
)
|
|
$
|
339
|
|
Sales returns reserve
|
225
|
|
|
(73
|
)
|
|
(27
|
)
|
|
125
|
|
||||
Total allowance for doubtful accounts and sales returns reserve
|
$
|
581
|
|
|
$
|
(1
|
)
|
|
$
|
(116
|
)
|
|
$
|
464
|
|
Year Ended July 31, 2015
|
|
|
|
|
|
|
|
||||||||
Allowance for doubtful accounts
|
$
|
339
|
|
|
$
|
85
|
|
|
$
|
(108
|
)
|
|
$
|
316
|
|
Sales returns reserve
|
125
|
|
|
32
|
|
|
(27
|
)
|
|
130
|
|
||||
Total allowance for doubtful accounts and sales returns reserve
|
$
|
464
|
|
|
$
|
117
|
|
|
$
|
(135
|
)
|
|
$
|
446
|
|
Year Ended July 31, 2016
|
|
|
|
|
|
|
|
||||||||
Allowance for doubtful accounts
|
$
|
316
|
|
|
$
|
288
|
|
|
$
|
(41
|
)
|
|
$
|
563
|
|
Sales returns reserve
|
130
|
|
|
394
|
|
|
(243
|
)
|
|
281
|
|
||||
Total allowance for doubtful accounts and sales returns reserve
|
$
|
446
|
|
|
$
|
682
|
|
|
$
|
(284
|
)
|
|
$
|
844
|
|
|
As of July 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(In thousands)
|
||||||
Raw materials
|
$
|
1,262
|
|
|
$
|
2,224
|
|
Finished goods
|
4,783
|
|
|
6,364
|
|
||
Total inventory
|
$
|
6,045
|
|
|
$
|
8,588
|
|
|
As of July 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(In thousands)
|
||||||
Prepaid expenses
|
$
|
9,104
|
|
|
$
|
8,742
|
|
Other current assets
|
3,484
|
|
|
1,717
|
|
||
Total prepaid expenses and other current assets
|
$
|
12,588
|
|
|
$
|
10,459
|
|
|
As of July 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(In thousands)
|
||||||
Computer equipment and software
|
$
|
34,260
|
|
|
$
|
28,073
|
|
Furniture and fixtures
|
5,470
|
|
|
4,666
|
|
||
Leasehold improvements
|
12,003
|
|
|
11,370
|
|
||
Total property and equipment, gross
|
51,733
|
|
|
44,109
|
|
||
Less accumulated depreciation and amortization
|
(29,729
|
)
|
|
(20,884
|
)
|
||
Total property and equipment, net
|
$
|
22,004
|
|
|
$
|
23,225
|
|
|
As of July 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(In thousands)
|
||||||
Accounts payable
|
$
|
11,803
|
|
|
$
|
10,041
|
|
Accrued restructuring liability (see Note 8)
|
3,750
|
|
|
—
|
|
||
Other
|
10,318
|
|
|
9,095
|
|
||
Total accounts payable and other current liabilities
|
$
|
25,871
|
|
|
$
|
19,136
|
|
|
As of July 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(In thousands)
|
||||||
Deferred revenue:
|
|
|
|
||||
Products and licenses
|
$
|
8,124
|
|
|
$
|
6,255
|
|
Services
|
171,841
|
|
|
133,834
|
|
||
Total deferred revenue
|
179,965
|
|
|
140,089
|
|
||
Deferred cost of revenue:
|
|
|
|
||||
Products and licenses
|
360
|
|
|
567
|
|
||
Services
|
3,701
|
|
|
2,675
|
|
||
Total deferred cost of revenue
|
4,061
|
|
|
3,242
|
|
||
Total deferred revenue, net
|
175,904
|
|
|
136,847
|
|
||
Less current portion
|
122,223
|
|
|
95,130
|
|
||
Non-current portion
|
$
|
53,681
|
|
|
$
|
41,717
|
|
|
|
Year Ended July 31,
|
||||||||||
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
|
(In thousands)
|
||||||||||
Interest income and other, net
|
|
$
|
1,016
|
|
|
$
|
751
|
|
|
$
|
435
|
|
Foreign currency exchange losses
|
|
(505
|
)
|
|
(1,402
|
)
|
|
(453
|
)
|
|||
Total other income (expense), net
|
|
$
|
511
|
|
|
$
|
(651
|
)
|
|
$
|
(18
|
)
|
NOTE 6.
|
ACQUISITION
|
|
|
Estimated Fair Value
|
||
|
|
(in thousands)
|
||
Assets acquired:
|
|
|
||
Cash
|
|
$
|
3,119
|
|
Other current assets
|
|
788
|
|
|
Long-term assets
|
|
357
|
|
|
Liabilities assumed:
|
|
|
||
Accounts payable and accrued liabilities
|
|
(925
|
)
|
|
Deferred revenue
|
|
(2,981
|
)
|
|
Deferred income tax liability, net
|
|
(3,658
|
)
|
|
Other current and long-term liabilities
|
|
(149
|
)
|
|
Intangible assets acquired
|
|
20,900
|
|
|
Goodwill
|
|
25,672
|
|
|
Total purchase consideration
|
|
$
|
43,123
|
|
|
|
Estimated Fair Value
|
|
Estimated Useful Life
|
|
Accumulated Amortization
|
|
Net Carrying Value
|
||||||
|
|
(in thousands)
|
|
(in Years)
|
|
(in thousands)
|
||||||||
Developed technology
|
|
$
|
15,330
|
|
|
7
|
|
$
|
(1,045
|
)
|
|
$
|
14,285
|
|
Customer relationships
|
|
4,500
|
|
|
8
|
|
(268
|
)
|
|
4,232
|
|
|||
Non-compete agreements
|
|
700
|
|
|
2
|
|
(167
|
)
|
|
533
|
|
|||
Trade name
|
|
370
|
|
|
1
|
|
(176
|
)
|
|
194
|
|
|||
Total
|
|
$
|
20,900
|
|
|
|
|
$
|
(1,656
|
)
|
|
$
|
19,244
|
|
NOTE 7.
|
GOODWILL AND INTANGIBLE ASSETS
|
|
|
Amount in Thousands
|
||
Balance as of July 31, 2015
|
|
$
|
33,293
|
|
IID acquisition
|
|
25,672
|
|
|
Balance as of July 31, 2016
|
|
$
|
58,965
|
|
As of July 31, 2016
|
Amortization Period
|
|
Gross Value
|
|
Accumulated Amortization
|
|
Net Carrying Value
|
|
Weighted-Average Remaining Amortization Period
|
||||||
|
|
|
(Dollars in thousands)
|
|
|
||||||||||
Developed technology
|
5 to 7 years
|
|
$
|
22,635
|
|
|
$
|
(7,715
|
)
|
|
$
|
14,920
|
|
|
6.49 years
|
Customer relationships
|
2 to 8 years
|
|
11,074
|
|
|
(6,685
|
)
|
|
4,389
|
|
|
7.37 years
|
|||
Trademarks
|
1 to 6 years
|
|
570
|
|
|
(376
|
)
|
|
194
|
|
|
0.58 years
|
|||
Patents
|
6 years
|
|
1,000
|
|
|
(917
|
)
|
|
83
|
|
|
0.50 years
|
|||
Non-compete agreements
|
2 years
|
|
700
|
|
|
(167
|
)
|
|
533
|
|
|
1.58 years
|
|||
Total
|
|
|
$
|
35,979
|
|
|
$
|
(15,860
|
)
|
|
$
|
20,119
|
|
|
|
As of July 31, 2015
|
Amortization Period
|
|
Gross Value
|
|
Accumulated Amortization
|
|
Net Carrying Value
|
|
Weighted-Average Remaining Amortization Period
|
||||||
|
|
|
(Dollars in thousands)
|
|
|
||||||||||
Developed technology
|
5 to 6 years
|
|
$
|
7,305
|
|
|
$
|
(5,908
|
)
|
|
$
|
1,397
|
|
|
3.30 years
|
Customer relationships
|
2 to 7 years
|
|
6,574
|
|
|
(6,323
|
)
|
|
251
|
|
|
2.67 years
|
|||
Trademarks
|
6 years
|
|
200
|
|
|
(175
|
)
|
|
25
|
|
|
0.75 years
|
|||
Patents
|
6 years
|
|
1,000
|
|
|
(750
|
)
|
|
250
|
|
|
1.50 years
|
|||
Total
|
|
|
$
|
15,079
|
|
|
$
|
(13,156
|
)
|
|
$
|
1,923
|
|
|
|
|
Year Ended July 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In thousands)
|
||||||||||
Cost of products and licenses revenue
|
$
|
1,973
|
|
|
$
|
1,160
|
|
|
$
|
1,110
|
|
Sales and marketing
|
731
|
|
|
1,013
|
|
|
1,308
|
|
|||
Total intangible asset amortization expense
|
$
|
2,704
|
|
|
$
|
2,173
|
|
|
$
|
2,418
|
|
|
|
Employee Severance and Benefits
|
|
Operating Lease Terminations
|
|
Fixed Assets Impairment
|
|
Stock-based Compensation
|
|
Other
|
|
Total
|
||||||||||||
|
|
(in thousands)
|
||||||||||||||||||||||
Accrued restructuring balance as of July 31, 2015
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Accruals
|
|
5,013
|
|
|
267
|
|
|
68
|
|
|
155
|
|
|
154
|
|
|
5,657
|
|
||||||
Cash payments
|
|
(1,672
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(12
|
)
|
|
(1,684
|
)
|
||||||
Non-cash charges
|
|
—
|
|
|
—
|
|
|
(68
|
)
|
|
(155
|
)
|
|
—
|
|
|
(223
|
)
|
||||||
Accrued restructuring as of July 31, 2016
|
|
$
|
3,341
|
|
|
$
|
267
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
142
|
|
|
$
|
3,750
|
|
NOTE 9.
|
COMMITMENTS AND CONTINGENCIES
|
Fiscal Year Ending July 31,
|
|
Operating Leases
|
||
|
|
(In thousands)
|
||
2017
|
|
$
|
5,328
|
|
2018
|
|
4,770
|
|
|
2019
|
|
4,573
|
|
|
2020
|
|
4,564
|
|
|
2021
|
|
2,571
|
|
|
Thereafter
|
|
246
|
|
|
Total
|
|
$
|
22,052
|
|
NOTE 10.
|
COMMON STOCK RESERVED FOR ISSUANCE
|
|
As of July 31,
|
||||
|
2016
|
|
2015
|
||
|
(In thousands)
|
||||
Outstanding restricted stock units
|
4,306
|
|
|
4,406
|
|
Shares reserved for future grants
|
4,760
|
|
|
3,963
|
|
Outstanding stock options
|
2,113
|
|
|
3,357
|
|
Shares reserved for employee stock purchase plan
|
917
|
|
|
1,120
|
|
Outstanding MSUs
|
189
|
|
|
—
|
|
|
12,285
|
|
|
12,846
|
|
NOTE 11.
|
EMPLOYEE BENEFIT PLANS
|
|
Year Ended July 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In thousands)
|
||||||||||
Cost of revenue
|
$
|
4,396
|
|
|
$
|
4,450
|
|
|
$
|
3,619
|
|
Research and development
|
11,033
|
|
|
10,828
|
|
|
7,375
|
|
|||
Sales and marketing
|
23,184
|
|
|
23,687
|
|
|
22,919
|
|
|||
General and administrative
|
9,633
|
|
|
8,658
|
|
|
7,058
|
|
|||
Total stock-based compensation
|
$
|
48,246
|
|
|
$
|
47,623
|
|
|
$
|
40,971
|
|
|
Year Ended July 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In thousands)
|
||||||||||
RSUs
|
$
|
36,634
|
|
|
$
|
31,952
|
|
|
$
|
24,359
|
|
Stock options
|
5,234
|
|
|
8,860
|
|
|
12,252
|
|
|||
ESPP
|
4,717
|
|
|
6,811
|
|
|
4,360
|
|
|||
MSUs
|
1,661
|
|
|
—
|
|
|
—
|
|
|||
Total stock-based compensation
|
$
|
48,246
|
|
|
$
|
47,623
|
|
|
$
|
40,971
|
|
|
|
As of July 31, 2016
|
|
Weighted-Average Amortization Period
|
||
|
|
(In thousands)
|
|
(In years)
|
||
RSUs
|
|
$
|
54,855
|
|
|
2.44
|
Stock options
|
|
4,928
|
|
|
2.02
|
|
ESPP
|
|
3,874
|
|
|
0.81
|
|
MSUs
|
|
1,768
|
|
|
1.38
|
|
Total unrecognized stock-based compensation balance
|
|
$
|
65,425
|
|
|
2.28
|
|
Year Ended July 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
Employee Stock Options:
|
|
|
|
|
|
||||||
Expected term (in years)
|
6.08
|
|
|
6.08
|
|
|
6.08
|
|
|||
Risk-free interest rate
|
1.7
|
%
|
|
1.81
|
%
|
|
1.86
|
%
|
|||
Expected volatility
|
52
|
%
|
|
55
|
%
|
|
55
|
%
|
|||
Dividend rate
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|||
Weighted average fair value per share
|
$
|
9.48
|
|
|
$
|
9.49
|
|
|
$
|
16.75
|
|
ESPP:
|
|
|
|
|
|
||||||
Expected term (in years)
|
0.50 - 2.00
|
|
|
0.50 - 2.00
|
|
|
0.50 - 2.00
|
|
|||
Risk-free interest rate
|
0.41% - 0.96%
|
|
|
0.08% - 0.71%
|
|
|
0.06% - 0.48%
|
|
|||
Expected volatility
|
62% - 64%
|
|
|
67% - 71%
|
|
|
55% - 77%
|
|
|||
Dividend rate
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|||
Weighted average fair value per share
|
$6.01 - $9.44
|
|
|
$7.02-$14.02
|
|
|
$6.12 - $12.87
|
|
|
Options Outstanding
|
|||||||||||
|
Number of Shares Underlying Outstanding Options
|
|
Weighted-Average Exercise Price
|
|
Weighted-Average Remaining Contractual Term
|
|
Aggregate Intrinsic Value
|
|||||
|
(In thousands)
|
|
|
|
(In years)
|
|
(In thousands)
|
|||||
Outstanding as of July 31, 2013
|
6,663
|
|
|
$
|
9.35
|
|
|
7.47
|
|
$
|
155,580
|
|
Options granted
|
523
|
|
|
31.83
|
|
|
|
|
|
|||
Options exercised
|
(2,052
|
)
|
|
6.74
|
|
|
|
|
|
|||
Options forfeited/expired
|
(220
|
)
|
|
16.17
|
|
|
|
|
|
|||
Outstanding as of July 31, 2014
|
4,914
|
|
|
$
|
12.52
|
|
|
6.67
|
|
$
|
14,980
|
|
Options granted
|
875
|
|
|
17.94
|
|
|
|
|
|
|||
Options exercised
|
(1,919
|
)
|
|
8.66
|
|
|
|
|
|
|||
Options forfeited/expired
|
(513
|
)
|
|
17.1
|
|
|
|
|
|
|||
Outstanding as of July 31, 2015
|
3,357
|
|
|
$
|
15.45
|
|
|
6.67
|
|
$
|
32,040
|
|
Options granted
|
74
|
|
|
18.76
|
|
|
|
|
|
|||
Options exercised
|
(886
|
)
|
|
8.48
|
|
|
|
|
|
|||
Options forfeited/expired
|
(432
|
)
|
|
20.74
|
|
|
|
|
|
|||
Outstanding as of July 31, 2016
|
2,113
|
|
|
$
|
17.41
|
|
|
6.11
|
|
$
|
9,424
|
|
Vested and expected to vest - July 31, 2016
|
2,055
|
|
|
$
|
17.32
|
|
|
6.05
|
|
$
|
9,354
|
|
Exercisable - July 31, 2016
|
1,569
|
|
|
$
|
16.39
|
|
|
5.46
|
|
$
|
8,605
|
|
|
|
Number of Units
|
|
Weighted-Average Grant Date Fair Value Per Share
|
|||
|
|
(In thousands)
|
|
|
|||
Outstanding as of July 31, 2013
|
|
1,986
|
|
|
$
|
21.15
|
|
Granted
|
|
2,432
|
|
|
$
|
29.72
|
|
Vested
|
|
(699
|
)
|
|
$
|
22.37
|
|
Cancellations due to forfeitures
|
|
(277
|
)
|
|
$
|
29.9
|
|
Outstanding as of July 31, 2014
|
|
3,442
|
|
|
$
|
26.47
|
|
Granted
|
|
2,889
|
|
|
$
|
17.85
|
|
Vested
|
|
(1,107
|
)
|
|
$
|
27.99
|
|
Cancellations due to forfeitures
|
|
(818
|
)
|
|
$
|
23.26
|
|
Outstanding as of July 31, 2015
|
|
4,406
|
|
|
$
|
21.03
|
|
Granted
|
|
2,901
|
|
|
$
|
17.69
|
|
Vested
|
|
(1,810
|
)
|
|
$
|
20.69
|
|
Cancellations due to forfeitures
|
|
(1,191
|
)
|
|
$
|
20.14
|
|
Outstanding as of July 31, 2016
|
|
4,306
|
|
|
$
|
19.17
|
|
|
2012 Plan
|
|
|
(In thousands)
|
|
Balance at July 31, 2015
|
3,963
|
|
Additional shares authorized for issuance
|
2,338
|
|
RSUs granted
|
(2,901
|
)
|
MSUs granted
|
(245
|
)
|
Options granted
|
(74
|
)
|
RSUs forfeited
|
1,191
|
|
Options forfeited/expired(1)
|
432
|
|
MSUs forfeited
|
56
|
|
Balance at July 31, 2016
|
4,760
|
|
(1)
|
Includes forfeited or expired options under the 2003 Plan that forfeited or expired unexercised which became available for grant under the 2012 Plan according to its terms. Any shares subject to outstanding awards under the 2003 Plan that are issuable upon the exercise of options that expire or become unexercisable for any reason without having been exercised in full will be available for future grant and issuance under the 2012 Plan.
|
NOTE 12.
|
INCOME TAXES
|
|
Year Ended July 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In thousands)
|
||||||||||
Domestic
|
$
|
(18,872
|
)
|
|
$
|
(28,113
|
)
|
|
$
|
(24,964
|
)
|
International
|
2,618
|
|
|
2,037
|
|
|
1,966
|
|
|||
Loss before provision for (benefit from) income taxes
|
$
|
(16,254
|
)
|
|
$
|
(26,076
|
)
|
|
$
|
(22,998
|
)
|
|
Year Ended July 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In thousands)
|
||||||||||
Current:
|
|
|
|
|
|
||||||
State
|
$
|
381
|
|
|
$
|
355
|
|
|
$
|
209
|
|
Foreign
|
708
|
|
|
578
|
|
|
416
|
|
|||
Total current
|
1,089
|
|
|
933
|
|
|
625
|
|
|||
Deferred:
|
|
|
|
|
|
||||||
Federal
|
(3,437
|
)
|
|
74
|
|
|
—
|
|
|||
State
|
(195
|
)
|
|
—
|
|
|
—
|
|
|||
Foreign
|
—
|
|
|
—
|
|
|
294
|
|
|||
Total deferred
|
(3,632
|
)
|
|
74
|
|
|
294
|
|
|||
Provision for (benefit from) income taxes
|
$
|
(2,543
|
)
|
|
$
|
1,007
|
|
|
$
|
919
|
|
|
Year Ended July 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In thousands)
|
||||||||||
Tax at statutory federal rate
|
$
|
(5,689
|
)
|
|
$
|
(9,127
|
)
|
|
$
|
(8,049
|
)
|
Change in valuation allowance
|
1,026
|
|
|
6,021
|
|
|
5,663
|
|
|||
Stock-based compensation and other permanent items
|
3,931
|
|
|
4,555
|
|
|
3,696
|
|
|||
R&D credit
|
(1,724
|
)
|
|
(664
|
)
|
|
(528
|
)
|
|||
State tax—net of federal benefit
|
161
|
|
|
283
|
|
|
158
|
|
|||
Foreign rate differential
|
(207
|
)
|
|
(135
|
)
|
|
23
|
|
|||
Foreign tax credit
|
(28
|
)
|
|
(52
|
)
|
|
(6
|
)
|
|||
Other
|
(13
|
)
|
|
126
|
|
|
(38
|
)
|
|||
Provision for (benefit from) income taxes
|
$
|
(2,543
|
)
|
|
$
|
1,007
|
|
|
$
|
919
|
|
|
As of July 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(In thousands)
|
||||||
Deferred tax assets:
|
|
|
|
||||
Net operating loss carryforwards
|
$
|
12,005
|
|
|
$
|
10,469
|
|
Deferred revenue
|
15,987
|
|
|
12,995
|
|
||
Stock-based compensation
|
9,604
|
|
|
9,269
|
|
||
Tax credit carryforwards
|
11,206
|
|
|
8,584
|
|
||
Accruals, reserves and other
|
6,395
|
|
|
8,330
|
|
||
Fixed assets depreciation and other
|
—
|
|
|
921
|
|
||
Identified intangibles and other
|
—
|
|
|
212
|
|
||
Gross deferred tax asset
|
55,197
|
|
|
50,780
|
|
||
Valuation allowance
|
(48,694
|
)
|
|
(50,772
|
)
|
||
Total deferred tax asset
|
6,503
|
|
|
8
|
|
||
|
|
|
|
||||
Deferred tax liability:
|
|
|
|
||||
Identified intangibles and other
|
(6,081
|
)
|
|
(74
|
)
|
||
Fixed assets depreciation
|
(518
|
)
|
|
—
|
|
||
Total deferred tax liability
|
(6,599
|
)
|
|
(74
|
)
|
||
Net deferred tax liability
|
$
|
(96
|
)
|
|
$
|
(66
|
)
|
|
Year Ended July 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In thousands)
|
||||||||||
Gross unrecognized tax benefits beginning balance
|
$
|
3,414
|
|
|
$
|
2,863
|
|
|
$
|
2,268
|
|
Increases related to tax positions taken during current year
|
1,038
|
|
|
457
|
|
|
612
|
|
|||
Increases (Decreases) related to tax positions from prior years
|
222
|
|
|
94
|
|
|
(17
|
)
|
|||
Gross unrecognized tax benefits
|
$
|
4,674
|
|
|
$
|
3,414
|
|
|
$
|
2,863
|
|
NOTE 13.
|
SEGMENT INFORMATION
|
|
Year Ended July 31,
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In thousands)
|
||||||||||
Americas
|
$
|
226,398
|
|
|
$
|
205,349
|
|
|
$
|
164,323
|
|
Europe, Middle East and Africa
|
94,752
|
|
|
73,773
|
|
|
58,570
|
|
|||
Asia Pacific
|
37,136
|
|
|
27,003
|
|
|
27,447
|
|
|||
Total net revenue
|
$
|
358,286
|
|
|
$
|
306,125
|
|
|
$
|
250,340
|
|
|
As of July 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(In thousands)
|
||||||
Americas
|
$
|
20,601
|
|
|
$
|
21,807
|
|
Europe, Middle East and Africa
|
915
|
|
|
712
|
|
||
Asia Pacific
|
488
|
|
|
706
|
|
||
|
$
|
22,004
|
|
|
$
|
23,225
|
|
|
|
Three Months Ended
|
||||||||||||||
|
|
October 31,
|
|
January 31,
|
|
April 30,
|
|
July 31,
|
||||||||
|
|
2015
|
|
2016
|
|
2016
|
|
2016
|
||||||||
|
|
(In thousands, except per share amounts)
|
||||||||||||||
Net revenue:
|
|
|
|
|
|
|
|
|
||||||||
Products and licenses
|
|
$
|
50,857
|
|
|
$
|
51,516
|
|
|
$
|
37,771
|
|
|
$
|
38,661
|
|
Services
|
|
43,165
|
|
|
44,483
|
|
|
44,191
|
|
|
47,642
|
|
||||
Total net revenue
|
|
94,022
|
|
|
95,999
|
|
|
81,962
|
|
|
86,303
|
|
||||
Cost of revenue:
|
|
|
|
|
|
|
|
|
||||||||
Products and licenses
|
|
10,350
|
|
|
9,856
|
|
|
9,046
|
|
|
8,463
|
|
||||
Services
|
|
8,752
|
|
|
9,065
|
|
|
10,176
|
|
|
10,650
|
|
||||
Total cost of revenue
|
|
19,102
|
|
|
18,921
|
|
|
19,222
|
|
|
19,113
|
|
||||
Gross profit
|
|
74,920
|
|
|
77,078
|
|
|
62,740
|
|
|
67,190
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
|
||||||||
Research and development
|
|
17,833
|
|
|
17,461
|
|
|
17,300
|
|
|
17,440
|
|
||||
Sales and marketing
|
|
47,286
|
|
|
45,996
|
|
|
42,506
|
|
|
43,195
|
|
||||
General and administrative
|
|
10,457
|
|
|
11,149
|
|
|
10,956
|
|
|
11,457
|
|
||||
Restructuring expense
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,657
|
|
||||
Total operating expenses
|
|
75,576
|
|
|
74,606
|
|
|
70,762
|
|
|
77,749
|
|
||||
Income (loss) from operations
|
|
(656
|
)
|
|
2,472
|
|
|
(8,022
|
)
|
|
(10,559
|
)
|
||||
Other income (expense), net
|
|
95
|
|
|
167
|
|
|
309
|
|
|
(60
|
)
|
||||
Income (loss) before provision for (benefit from) income taxes
|
|
(561
|
)
|
|
2,639
|
|
|
(7,713
|
)
|
|
(10,619
|
)
|
||||
Provision for (benefit from) income taxes
|
|
950
|
|
|
(1,139
|
)
|
|
(2,037
|
)
|
|
(317
|
)
|
||||
Net income (loss)
|
|
$
|
(1,511
|
)
|
|
$
|
3,778
|
|
|
$
|
(5,676
|
)
|
|
$
|
(10,302
|
)
|
|
|
|
|
|
|
|
|
|
||||||||
Net income (loss) per share - basic and diluted
|
|
$
|
(0.03
|
)
|
|
$
|
0.06
|
|
|
$
|
(0.10
|
)
|
|
$
|
(0.18
|
)
|
|
|
Three Months Ended
|
||||||||||||||
|
|
October 31,
|
|
January 31,
|
|
April 30,
|
|
July 31,
|
||||||||
|
|
2014
|
|
2015
|
|
2015
|
|
2015
|
||||||||
|
|
(In thousands, except per share amounts)
|
||||||||||||||
Net revenue:
|
|
|
|
|
|
|
|
|
||||||||
Products and licenses
|
|
$
|
31,508
|
|
|
$
|
37,917
|
|
|
$
|
40,737
|
|
|
$
|
46,348
|
|
Services
|
|
35,211
|
|
|
36,387
|
|
|
37,366
|
|
|
40,651
|
|
||||
Total net revenue
|
|
66,719
|
|
|
74,304
|
|
|
78,103
|
|
|
86,999
|
|
||||
Cost of revenue:
|
|
|
|
|
|
|
|
|
||||||||
Products and licenses
|
|
7,467
|
|
|
8,787
|
|
|
9,069
|
|
|
10,039
|
|
||||
Services
|
|
7,467
|
|
|
7,491
|
|
|
8,257
|
|
|
8,554
|
|
||||
Total cost of revenue
|
|
14,934
|
|
|
16,278
|
|
|
17,326
|
|
|
18,593
|
|
||||
Gross profit
|
|
51,785
|
|
|
58,026
|
|
|
60,777
|
|
|
68,406
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
|
||||||||
Research and development
|
|
14,570
|
|
|
15,504
|
|
|
16,709
|
|
|
18,309
|
|
||||
Sales and marketing
|
|
38,455
|
|
|
39,788
|
|
|
39,536
|
|
|
44,438
|
|
||||
General and administrative
|
|
7,960
|
|
|
9,355
|
|
|
9,740
|
|
|
10,055
|
|
||||
Total operating expenses
|
|
60,985
|
|
|
64,647
|
|
|
65,985
|
|
|
72,802
|
|
||||
Loss from operations
|
|
(9,200
|
)
|
|
(6,621
|
)
|
|
(5,208
|
)
|
|
(4,396
|
)
|
||||
Other income (expense), net
|
|
(190
|
)
|
|
(590
|
)
|
|
206
|
|
|
(77
|
)
|
||||
Loss before provision for (benefit from) income taxes
|
|
(9,390
|
)
|
|
(7,211
|
)
|
|
(5,002
|
)
|
|
(4,473
|
)
|
||||
Provision for (benefit from) income taxes
|
|
820
|
|
|
(200
|
)
|
|
134
|
|
|
253
|
|
||||
Net loss
|
|
$
|
(10,210
|
)
|
|
$
|
(7,011
|
)
|
|
$
|
(5,136
|
)
|
|
$
|
(4,726
|
)
|
|
|
|
|
|
|
|
|
|
||||||||
Net loss per share - basic and diluted
|
|
$
|
(0.18
|
)
|
|
$
|
(0.13
|
)
|
|
$
|
(0.09
|
)
|
|
$
|
(0.08
|
)
|
ITEM 9A.
|
CONTROLS AND PROCEDURES
|
ITEM 9B.
|
OTHER INFORMATION
|
ITEM 10.
|
DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
|
ITEM 11.
|
EXECUTIVE COMPENSATION
|
ITEM 12.
|
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
|
ITEM 13.
|
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE
|
ITEM 14.
|
PRINCIPAL ACCOUNTING FEES AND SERVICES
|
ITEM 15.
|
EXHIBITS AND FINANCIAL STATEMENT SCHEDULE
|
|
|
INFOBLOX INC.
|
||
|
|
|
|
|
Dated: September 22, 2016
|
|
By:
|
|
/S/
Janesh Moorjani
|
|
|
|
|
Janesh Moorjani
Chief Financial Officer
|
Signature
|
|
Title
|
|
Date
|
|
|
|
|
|
/S/ Jesper Andersen
|
|
President, Chief Executive Officer and Director (Principal Executive Officer)
|
|
September 22, 2016
|
Jesper Andersen
|
|
|
||
|
|
|
|
|
/S/ Janesh Moorjani
|
|
Chief Financial Officer (Principal Financial and Accounting Officer)
|
|
September 22, 2016
|
Janesh Moorjani
|
|
|
||
|
|
|
|
|
/S/ Richard E. Belluzzo
|
|
Director
|
|
September 22, 2016
|
Richard E. Belluzzo
|
|
|
||
|
|
|
|
|
/S/
Laura C. Conigliaro
|
|
Director
|
|
September 22, 2016
|
Laura C. Conigliaro
|
|
|
||
|
|
|
|
|
/S/ Philip Fasano
|
|
Director
|
|
September 22, 2016
|
Philip Fasano
|
|
|
||
|
|
|
|
|
/S/ Fred M. Gerson
|
|
Director
|
|
September 22, 2016
|
Fred M. Gerson
|
|
|
||
|
|
|
|
|
/S/ Edzard Overbeek
|
|
Director
|
|
September 22, 2016
|
Edzard Overbeek
|
|
|
||
|
|
|
|
|
/S/
Daniel J. Phelps
|
|
Director
|
|
September 22, 2016
|
Daniel J. Phelps
|
|
|
Exhibit Number
|
|
Exhibit Title
|
Incorporated by Reference
|
|||
|
|
|
Form
|
File No.
|
Exhibit No.
|
Filing Date
|
3.01
|
|
Form of Restated Certificate of Incorporation of the Registrant.
|
S-1
|
333-178925
|
3.02
|
April 9, 2012
|
3.02
|
|
Amended and Restated Bylaws of the Registrant.
|
8-K
|
001-35507
|
3.1
|
September 19, 2016
|
4.01
|
|
Form of Registrant's Common Stock Certificate.
|
S-1
|
333-178925
|
4.01
|
April 9, 2012
|
4.02
|
|
Third Amended and Restated Investors' Rights Agreement by and among the Registrant and the Preferred Stockholders of the Registrant dated May 1, 2010.
|
S-1
|
333-178925
|
4.02
|
January 6, 2012
|
10.01
|
|
Agreement and Plan of Merger among Delta Holdco, LLC, a Delaware limited liability company, India Merger Sub, Inc., a Delaware corporation and the Registrant dated September 16, 2016
|
8-K
|
001-35507
|
2.1
|
September 19, 2016
|
10.02
|
|
Agreement and Plan of Merger dated February 6, 2016 with IID Security, Inc., Niners Acquisition Sub, Inc. and Shareholder Representative Services, LLC
|
10-Q
|
001-35507
|
2.1
|
March 3, 2016
|
10.03
|
|
Master Confirmation with Goldman, Sachs & Co., dated December 3, 2015
|
8-K
|
001-35507
|
10.1
|
December 4, 2015
|
10.04†
|
|
Offer Letter to Janesh Moorjani from the Company, dated November 19, 2015
|
8-K
|
001-35507
|
10.1
|
January 4, 2016
|
10.05†
|
|
Separation Agreement between Remo E. Canessa and the Company, dated December 30, 2015
|
8-K
|
001-35507
|
10.2
|
January 4, 2016
|
10.06†
|
|
Separation Agreement between Thorsten Freitag and the Company, dated April 6, 2016
|
10-Q
|
001-35507
|
10.1
|
June 2, 2016
|
10.07†
|
|
2012 Employee Stock Purchase Plan, As Amended on February 25, 2014
|
10-Q
|
001-35507
|
10.01
|
March 7, 2014
|
10.08†
|
|
2012 Equity Incentive Plan
|
10-Q
|
001-35507
|
10.02
|
March 5, 2013
|
10.09†
|
|
Forms of Equity Award Agreements under 2012 Equity Incentive Plan
|
S-8
|
333-180840
|
99.4
|
April 20, 2012
|
10.10†
|
|
Form of Market Stock Units Award Agreement under the 2012 Equity Incentive Plan
|
10-K
|
001-35507
|
10.04
|
September 25, 2015
|
10.11†
|
|
Form of Indemnity Agreement.
|
S-1
|
333-178925
|
10.01
|
April 9, 2012
|
10.12†
|
|
2003 Stock Plan and Form of Option Grant
|
S-8
|
333-178925
|
10.02
|
January 6, 2012
|
10.13†
|
|
2005 Stock Plan.
|
S-1
|
333-178925
|
10.03
|
January 6, 2012
|
10.14†
|
|
Offer Letter to Jesper Andersen from the Registrant, dated November 15, 2014
|
8-K
|
001-35507
|
10.01
|
November 25, 2014
|
10.15†
|
|
Offer Letter to Scott J. Fulton from the Registrant, dated February 28, 2014
|
10-K
|
001-35507
|
10.04
|
September 25, 2015
|
10.16†
|
|
Form of Change in Control Severance Agreement by and between Jesper Andersen and the Registrant.
|
10-Q
|
001-35507
|
10.03
|
March 6, 2015
|
10.17†
|
|
Form of 2015 Executive VP Tier Change in Control Severance Agreement
|
10-Q
|
001-35507
|
10.04
|
March 6, 2015
|
10.18
|
|
Lease Agreement between Registrant and 3111-3141 Coronado Drive Associates, LLC, dated May 25, 2012.
|
10-Q
|
001-35507
|
10.04
|
June 1, 2012
|
23.01*
|
|
Consent of Independent Registered Public Accounting Firm
|
|
|
|
|
24.01*
|
|
Power of Attorney (included on Page
125
)
|
|
|
|
|
31.01*
|
|
Certification of Jesper Andersen, Chief Executive Officer, pursuant to Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
|
31.02*
|
|
Certification of Janesh Moorjani, Chief Financial Officer, pursuant to Rule 13a-14(a)/15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
|
32.01*
|
|
Certification of Jesper Andersen, Chief Executive Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
|
32.02*
|
|
Certification of Janesh Moorjani, Chief Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
|
|
|
101.INS††
|
|
XBRL Instance Document
|
|
|
|
|
101.SCH††
|
|
XBRL Taxonomy Schema Linkbase Document
|
|
|
|
|
101.CAL††
|
|
XBRL Taxonomy Calculation Linkbase Document
|
|
|
|
|
101.DEF††
|
|
XBRL Taxonomy Definition Linkbase Document
|
|
|
|
|
101.LAB††
|
|
XBRL Taxonomy Labels Linkbase Document
|
|
|
|
|
101.PRE††
|
|
XBRL Taxonomy Presentation Linkbase Document
|
|
|
|
|
*
|
|
Filed herewith.
|
||||
†
|
|
Indicates a management contract, compensatory plan or arrangement
|
||||
††
|
|
Pursuant to applicable securities laws and regulations, the Registrant is deemed to have complied with the reporting obligation relating to the submission of interactive data files in such exhibits and is not subject to liability under any anti-fraud provisions of the federal securities laws as long as the Registrant has made a good faith attempt to comply with the submission requirements and promptly amends the interactive data files after becoming aware that the interactive data files fail to comply with the submission requirements. In accordance with Rule 406T of Regulation S-T, the information in these exhibits is furnished and deemed not filed or part of a registration statement or the Prospectus for purposes of sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of section 18 of the Exchange Act of 1934, and otherwise is not subject to liability under these sections.
|
1 Year Infoblox Inc. Chart |
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