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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 ]
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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[ ]
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Large accelerated filer
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[ x ]
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Accelerated filer
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[ ]
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Non-accelerated filer
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[ ]
(Do not check if a smaller reporting company)
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Smaller reporting company
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[ ]
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Class
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Outstanding at May 31, 2016
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Common Stock, $0.0001 par value per share
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56,901,643
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PART I – FINANCIAL INFORMATION
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Item 1.
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Item 2.
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Item 3.
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Item 4.
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Item 1.
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Item 1A.
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Item 2.
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Item 3.
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Item 4.
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Item 5.
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Item 6.
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April 30, 2016
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July 31, 2015
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||||
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(Unaudited)
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ASSETS
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CURRENT ASSETS:
|
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||||
Cash and cash equivalents
|
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$
|
110,827
|
|
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$
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103,124
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Short-term investments
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166,346
|
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227,712
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Accounts receivable, net
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50,582
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45,881
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Inventory
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6,498
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8,588
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Prepaid expenses and other current assets
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14,628
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10,459
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Total current assets
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348,881
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395,764
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Property and equipment, net
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23,731
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23,225
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Restricted cash
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10,019
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3,515
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Intangible assets, net
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21,088
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1,923
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Goodwill
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58,965
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33,293
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Other assets
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1,517
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1,547
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TOTAL ASSETS
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$
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464,201
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$
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459,267
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LIABILITIES AND STOCKHOLDERS’ EQUITY
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CURRENT LIABILITIES:
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Accounts payable and accrued liabilities
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$
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23,327
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|
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$
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19,136
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Accrued compensation
|
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19,042
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|
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22,931
|
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Deferred revenue, net
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114,724
|
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95,130
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Total current liabilities
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157,093
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137,197
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Deferred revenue, net
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51,906
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41,717
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Other liabilities
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10,591
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5,201
|
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TOTAL LIABILITIES
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219,590
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184,115
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Commitments and contingencies (Note 5)
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STOCKHOLDERS’ EQUITY:
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Convertible preferred stock, $0.0001 par value per share—5,000 shares authorized; no shares issued or outstanding
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—
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—
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Common stock, $0.0001 par value per share—100,000 shares authorized; 56,855 shares and 58,836 shares issued and outstanding as of April 30, 2016 and July 31, 2015
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6
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6
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Additional paid-in capital
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454,676
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438,725
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Accumulated other comprehensive loss
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(38
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)
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(37
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)
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Accumulated deficit
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(210,033
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)
|
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(163,542
|
)
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TOTAL STOCKHOLDERS’ EQUITY
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244,611
|
|
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275,152
|
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TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
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$
|
464,201
|
|
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$
|
459,267
|
|
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Three Months Ended April 30,
|
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Nine Months ended April 30,
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||||||||||||
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2016
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2015
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2016
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2015
|
||||||||
Net revenue:
|
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|
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||||||||
Products and licenses
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$
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37,771
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$
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40,737
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|
|
$
|
140,144
|
|
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$
|
110,162
|
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Services
|
44,191
|
|
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37,366
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|
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131,839
|
|
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108,964
|
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Total net revenue
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81,962
|
|
|
78,103
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|
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271,983
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|
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219,126
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Cost of revenue:
|
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Products and licenses
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9,046
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|
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9,069
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29,252
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|
|
25,323
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Services
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10,176
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|
|
8,257
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|
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27,993
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|
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23,215
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Total cost of revenue
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19,222
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17,326
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|
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57,245
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|
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48,538
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Gross profit
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62,740
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60,777
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|
214,738
|
|
|
170,588
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Operating expenses:
|
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|
|
|
|
|
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Research and development
|
17,300
|
|
|
16,709
|
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|
52,594
|
|
|
46,783
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Sales and marketing
|
42,506
|
|
|
39,536
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|
|
135,788
|
|
|
117,779
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||||
General and administrative
|
10,956
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|
9,740
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32,562
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27,055
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Total operating expenses
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70,762
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65,985
|
|
|
220,944
|
|
|
191,617
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Loss from operations
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(8,022
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)
|
|
(5,208
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)
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(6,206
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)
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(21,029
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)
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Other income (expense), net
|
309
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|
206
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571
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(574
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)
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Loss before provision for (benefit from) income taxes
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(7,713
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)
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(5,002
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)
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(5,635
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)
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(21,603
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)
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Provision for (benefit from) income taxes
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(2,037
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)
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134
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(2,226
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)
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|
754
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Net loss
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$
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(5,676
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)
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$
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(5,136
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)
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$
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(3,409
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)
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$
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(22,357
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)
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Net loss per share - basic and diluted
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$
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(0.10
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)
|
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$
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(0.09
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)
|
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$
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(0.06
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)
|
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$
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(0.40
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)
|
|
|
|
|
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||||||||
Weighted-average shares used in computing basic net loss per share - basic and diluted
|
57,420
|
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56,928
|
|
|
58,548
|
|
|
56,120
|
|
|
Three Months Ended April 30,
|
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Nine Months ended April 30,
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||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Net loss
|
$
|
(5,676
|
)
|
|
$
|
(5,136
|
)
|
|
$
|
(3,409
|
)
|
|
$
|
(22,357
|
)
|
Other comprehensive loss
|
|
|
|
|
|
|
|
||||||||
Unrealized holding gain (loss) on short-term investments, net
|
180
|
|
|
(14
|
)
|
|
(1
|
)
|
|
82
|
|
||||
Comprehensive loss
|
$
|
(5,496
|
)
|
|
$
|
(5,150
|
)
|
|
$
|
(3,410
|
)
|
|
$
|
(22,275
|
)
|
|
|
Nine Months Ended April 30,
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||||||
|
|
2016
|
|
2015
|
||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
|
|
|
|
||||
Net loss
|
|
$
|
(3,409
|
)
|
|
$
|
(22,357
|
)
|
Adjustments to reconcile net loss to net cash provided by operating activities:
|
|
|
|
|
||||
Stock-based compensation
|
|
37,588
|
|
|
36,098
|
|
||
Depreciation and amortization
|
|
8,379
|
|
|
6,712
|
|
||
Deferred income taxes
|
|
(3,658
|
)
|
|
62
|
|
||
Excess tax benefits from employee stock plans
|
|
(904
|
)
|
|
(247
|
)
|
||
Other
|
|
405
|
|
|
1,603
|
|
||
Changes in operating assets and liabilities:
|
|
|
|
|
||||
Accounts receivable, net
|
|
(4,455
|
)
|
|
(1,692
|
)
|
||
Inventory
|
|
2,273
|
|
|
(2,608
|
)
|
||
Prepaid expenses, other current assets and other assets
|
|
(498
|
)
|
|
(2,568
|
)
|
||
Accounts payable and accrued liabilities
|
|
2,076
|
|
|
2,762
|
|
||
Accrued compensation
|
|
(3,889
|
)
|
|
6,912
|
|
||
Deferred revenue, net
|
|
26,801
|
|
|
19,552
|
|
||
Other liabilities
|
|
(740
|
)
|
|
(670
|
)
|
||
Net cash provided by operating activities
|
|
59,969
|
|
|
43,559
|
|
||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
|
|
|
|
||||
Purchases of short-term investments
|
|
(29,905
|
)
|
|
(114,484
|
)
|
||
Proceeds from maturities of short-term investments
|
|
90,830
|
|
|
76,450
|
|
||
Business acquisition, net of cash acquired
|
|
(31,531
|
)
|
|
—
|
|
||
Change in restricted cash
|
|
(9,101
|
)
|
|
—
|
|
||
Purchases of property and equipment
|
|
(7,459
|
)
|
|
(5,552
|
)
|
||
Proceeds from sales of short-term investments
|
|
—
|
|
|
1,001
|
|
||
Net cash provided by (used in) investing activities
|
|
12,834
|
|
|
(42,585
|
)
|
||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
|
|
|
|
||||
Common stock repurchases
|
|
(75,104
|
)
|
|
—
|
|
||
Proceeds from issuance of common stock under employee stock plans
|
|
8,997
|
|
|
12,318
|
|
||
Excess tax benefits from employee stock plans
|
|
904
|
|
|
247
|
|
||
Net cash provided by (used in) financing activities
|
|
(65,203
|
)
|
|
12,565
|
|
||
Effect of foreign exchange rate changes on cash and cash equivalents
|
|
103
|
|
|
(1,252
|
)
|
||
NET INCREASE IN CASH AND CASH EQUIVALENTS
|
|
7,703
|
|
|
12,287
|
|
||
CASH AND CASH EQUIVALENTS—Beginning of period
|
|
103,124
|
|
|
78,535
|
|
||
CASH AND CASH EQUIVALENTS—End of period
|
|
$
|
110,827
|
|
|
$
|
90,822
|
|
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
|
|
|
|
|
||||
Purchases of property and equipment not yet paid
|
|
$
|
761
|
|
|
$
|
2,960
|
|
Cash paid for income taxes, net
|
|
$
|
566
|
|
|
$
|
425
|
|
|
Three Months Ended April 30,
|
|
Nine Months ended April 30,
|
||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||
|
|
|
|
|
|
|
|
||||
|
(In thousands)
|
||||||||||
Stock options to purchase common stock
|
2,167
|
|
|
2,861
|
|
|
2,337
|
|
|
3,395
|
|
Restricted stock units
|
1,953
|
|
|
2,243
|
|
|
2,202
|
|
|
1,806
|
|
Employee Stock Purchase Plan
|
137
|
|
|
188
|
|
|
148
|
|
|
80
|
|
|
|
Amortized Cost
|
|
Unrealized Gains
|
|
Unrealized Losses
|
|
Estimated Fair Value
|
||||||||
|
|
|
|
|
|
|
|
|
||||||||
|
|
(In thousands)
|
||||||||||||||
Cash equivalents:
|
|
|
|
|
|
|
|
|
||||||||
Money market funds
|
|
$
|
9,460
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
9,460
|
|
Short-term investments:
|
|
|
|
|
|
|
|
|
||||||||
U.S. Treasury securities
|
|
119,537
|
|
|
15
|
|
|
(36
|
)
|
|
119,516
|
|
||||
U.S. government agency securities
|
|
29,327
|
|
|
2
|
|
|
(17
|
)
|
|
29,312
|
|
||||
FDIC-backed certificates of deposit
|
|
17,520
|
|
|
10
|
|
|
(12
|
)
|
|
17,518
|
|
||||
Total short-term investments
|
|
166,384
|
|
|
27
|
|
|
(65
|
)
|
|
166,346
|
|
||||
Restricted cash:
|
|
|
|
|
|
|
|
|
||||||||
U.S. Treasury securities
|
|
3,417
|
|
|
—
|
|
|
—
|
|
|
3,417
|
|
||||
Total cash equivalents, short-term investments and restricted cash
|
|
$
|
179,261
|
|
|
$
|
27
|
|
|
$
|
(65
|
)
|
|
$
|
179,223
|
|
|
|
Amortized Cost
|
|
Estimated Fair Value
|
||||
|
|
|
|
|
||||
|
|
(In thousands)
|
||||||
Due within one year
|
|
$
|
119,978
|
|
|
$
|
119,964
|
|
Due after one year through two years
|
|
46,406
|
|
|
46,382
|
|
||
Total
|
|
$
|
166,384
|
|
|
$
|
166,346
|
|
|
|
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:
|
|
|
|
|
|
|
|
|
||||||||
U.S. Treasury securities
|
|
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 April 30, 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
|
|
|
|
|
|
|
|
|
||||||||
Cash equivalents:
|
|
|
|
|
|
|
|
|
||||||||
Money market funds
|
|
$
|
9,460
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
9,460
|
|
Short-term investments:
|
|
|
|
|
|
|
|
|
||||||||
U.S. Treasury securities
|
|
119,516
|
|
|
—
|
|
|
—
|
|
|
119,516
|
|
||||
U.S. government agency securities
|
|
—
|
|
|
29,312
|
|
|
—
|
|
|
29,312
|
|
||||
FDIC-backed certificates of deposit
|
|
—
|
|
|
17,518
|
|
|
—
|
|
|
17,518
|
|
||||
Total short-term investments
|
|
119,516
|
|
|
46,830
|
|
|
—
|
|
|
166,346
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Restricted cash:
|
|
|
|
|
|
|
|
|
||||||||
U.S. Treasury securities
|
|
3,417
|
|
|
—
|
|
|
—
|
|
|
3,417
|
|
||||
Total financial assets
|
|
$
|
132,393
|
|
|
$
|
46,830
|
|
|
$
|
—
|
|
|
$
|
179,223
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value Measurements at July 31, 2015 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
|
|
|
|
|
|
|
|
|
||||||||
Cash equivalents:
|
|
|
|
|
|
|
|
|
||||||||
Money market funds
|
|
$
|
5,695
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
5,695
|
|
Short-term investments:
|
|
|
|
|
|
|
|
|
||||||||
U.S. Treasury securities
|
|
162,710
|
|
|
—
|
|
|
—
|
|
|
162,710
|
|
||||
U.S. government agency securities
|
|
—
|
|
|
42,467
|
|
|
—
|
|
|
42,467
|
|
||||
FDIC-backed certificates of deposit
|
|
—
|
|
|
22,535
|
|
|
—
|
|
|
22,535
|
|
||||
Total short-term investments
|
|
162,710
|
|
|
65,002
|
|
|
—
|
|
|
227,712
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Restricted cash:
|
|
|
|
|
|
|
|
|
||||||||
U.S. Treasury securities
|
|
3,413
|
|
|
—
|
|
|
—
|
|
|
3,413
|
|
||||
Total financial assets
|
|
$
|
171,818
|
|
|
$
|
65,002
|
|
|
$
|
—
|
|
|
$
|
236,820
|
|
|
|
April 30, 2016
|
|
July 31, 2015
|
||||
|
|
|
|
|
||||
|
|
(In thousands)
|
||||||
Raw materials
|
|
$
|
1,488
|
|
|
$
|
2,224
|
|
Finished goods
|
|
5,010
|
|
|
6,364
|
|
||
Total inventory
|
|
$
|
6,498
|
|
|
$
|
8,588
|
|
|
|
April 30, 2016
|
|
July 31, 2015
|
||||
|
|
|
|
|
||||
|
|
(In thousands)
|
||||||
Deferred revenue:
|
|
|
||||||
Products and licenses
|
|
$
|
7,688
|
|
|
$
|
6,255
|
|
Services
|
|
163,437
|
|
|
133,834
|
|
||
Total deferred revenue
|
|
171,125
|
|
|
140,089
|
|
||
Deferred cost of revenue:
|
|
|
|
|
||||
Products and licenses
|
|
339
|
|
|
567
|
|
||
Services
|
|
4,156
|
|
|
2,675
|
|
||
Total deferred cost of revenue
|
|
4,495
|
|
|
3,242
|
|
||
Total deferred revenue, net
|
|
166,630
|
|
|
136,847
|
|
||
Less current portion
|
|
114,724
|
|
|
95,130
|
|
||
Non-current portion
|
|
$
|
51,906
|
|
|
$
|
41,717
|
|
|
|
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
|
|
$
|
(497
|
)
|
|
$
|
14,833
|
|
Customer relationships
|
|
4,500
|
|
|
8
|
|
(128
|
)
|
|
4,372
|
|
|||
Non-compete agreements
|
|
700
|
|
|
2
|
|
(79
|
)
|
|
621
|
|
|||
Trade name
|
|
370
|
|
|
1
|
|
(84
|
)
|
|
286
|
|
|||
Total
|
|
$
|
20,900
|
|
|
|
|
$
|
(788
|
)
|
|
$
|
20,112
|
|
Fiscal Period:
|
|
(in thousands)
|
||
Remaining three months of fiscal 2016
|
|
$
|
970
|
|
Fiscal 2017
|
|
3,619
|
|
|
Fiscal 2018
|
|
3,143
|
|
|
Fiscal 2019
|
|
2,897
|
|
|
Fiscal 2020
|
|
2,897
|
|
|
Fiscal 2021
|
|
2,807
|
|
|
Thereafter
|
|
4,755
|
|
|
Total amortization expense
|
|
$
|
21,088
|
|
|
|
Carrying Amount
|
||
|
|
(in thousands)
|
||
Balance as of July 31, 2015
|
|
$
|
33,293
|
|
Goodwill from the acquisition of IID
|
|
25,672
|
|
|
Balance as of April 30, 2016
|
|
$
|
58,965
|
|
|
Three Months Ended April 30,
|
|
Nine Months ended April 30,
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
|
(In thousands)
|
||||||||||||||
Cost of revenue
|
$
|
1,014
|
|
|
$
|
1,001
|
|
|
$
|
3,363
|
|
|
$
|
3,405
|
|
Research and development
|
2,523
|
|
|
2,549
|
|
|
8,648
|
|
|
7,790
|
|
||||
Sales and marketing
|
5,726
|
|
|
5,941
|
|
|
18,287
|
|
|
18,136
|
|
||||
General and administrative
|
2,532
|
|
|
2,268
|
|
|
7,290
|
|
|
6,767
|
|
||||
|
$
|
11,795
|
|
|
$
|
11,759
|
|
|
$
|
37,588
|
|
|
$
|
36,098
|
|
|
Three Months Ended April 30,
|
|
Nine Months ended April 30,
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
|
(In thousands)
|
|
|
|
|
||||||||||
RSUs
|
$
|
9,137
|
|
|
$
|
8,169
|
|
|
$
|
28,452
|
|
|
$
|
23,453
|
|
Stock options
|
1,215
|
|
|
1,990
|
|
|
4,381
|
|
|
7,144
|
|
||||
ESPP
|
970
|
|
|
1,600
|
|
|
3,386
|
|
|
5,501
|
|
||||
MSUs
|
473
|
|
|
—
|
|
|
1,369
|
|
|
—
|
|
||||
|
$
|
11,795
|
|
|
$
|
11,759
|
|
|
$
|
37,588
|
|
|
$
|
36,098
|
|
|
|
As of April 30, 2016
|
|
Weighted-Average Amortization Period
|
||
|
|
(In thousands)
|
|
(In years)
|
||
RSUs
|
|
$
|
67,999
|
|
|
2.62
|
Stock options
|
|
6,366
|
|
|
2.20
|
|
ESPP
|
|
2,682
|
|
|
1.00
|
|
MSUs
|
|
2,744
|
|
|
1.25
|
|
Total unrecognized stock-based compensation balance
|
|
$
|
79,791
|
|
|
2.48
|
|
Three Months Ended April 30,
|
|
Nine Months ended April 30,
|
|||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|||||||
Stock Options:
|
|
|
|
|
|
|
|
|||||||
Expected term (in years)
|
—
|
|
|
6.08
|
|
|
6.08
|
|
|
6.08
|
|
|||
Risk-free interest rate
|
—
|
|
|
1.66
|
%
|
|
1.70
|
%
|
|
1.79
|
%
|
|||
Expected volatility
|
—
|
|
|
54
|
%
|
|
52
|
%
|
|
56
|
%
|
|||
Dividend rate
|
—
|
|
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|||
Weighted average fair value per share
|
—
|
|
|
$
|
11.89
|
|
|
$
|
9.48
|
|
|
$
|
8.88
|
|
Employee Stock Purchase Plan:
|
|
|
|
|
|
|
|
|||||||
Expected term (in years)
|
—
|
|
|
—
|
|
|
0.50 - 2.00
|
|
|
0.50 - 2.00
|
|
|||
Risk-free interest rate
|
—
|
|
|
—
|
|
|
0.51% - 0.96%
|
|
|
0.16% - 0.71%
|
|
|||
Expected volatility
|
—
|
|
|
—
|
|
|
64
|
%
|
|
71
|
%
|
|||
Dividend rate
|
—
|
|
|
—
|
|
|
—
|
%
|
|
—
|
%
|
|||
Weighted average fair value per share
|
—
|
|
|
—
|
|
|
$6.19 - $9.44
|
|
|
$7.02-$10.72
|
|
|
|
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, 2015
|
|
3,357
|
|
|
$
|
15.45
|
|
|
6.67
|
|
$
|
32,040
|
|
Granted
|
|
74
|
|
|
18.76
|
|
|
|
|
|
|||
Exercised
|
|
(648
|
)
|
|
8.12
|
|
|
|
|
|
|||
Canceled due to forfeitures and expirations
|
|
(350
|
)
|
|
19.94
|
|
|
|
|
|
|||
Outstanding as of April 30, 2016
|
|
2,433
|
|
|
16.85
|
|
|
6.31
|
|
8,685
|
|
||
Vested and expected to vest as of April 30, 2016
|
|
2,370
|
|
|
16.74
|
|
|
6.21
|
|
8,656
|
|
||
Vested and exercisable as of April 30, 2016
|
|
1,743
|
|
|
$
|
15.34
|
|
|
5.47
|
|
$
|
8,266
|
|
|
|
Number of Units
|
|
Weighted-Average Grant Date Fair Value Per Share
|
|||
|
|
(In thousands)
|
|
|
|||
Outstanding as of July 31, 2015
|
|
4,406
|
|
|
$
|
21.03
|
|
Granted
|
|
2,694
|
|
|
17.64
|
|
|
Vested
|
|
(1,559
|
)
|
|
20.41
|
|
|
Cancellations due to forfeitures
|
|
(788
|
)
|
|
19.99
|
|
|
Outstanding as of April 30, 2016
|
|
4,753
|
|
|
$
|
19.49
|
|
|
Three Months Ended April 30,
|
|
Nine Months ended April 30,
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
|
(In thousands)
|
||||||||||||||
Americas
|
$
|
50,204
|
|
|
$
|
53,123
|
|
|
$
|
170,201
|
|
|
$
|
144,551
|
|
Europe, Middle East and Africa ("EMEA")
|
22,262
|
|
|
19,112
|
|
|
73,486
|
|
|
54,237
|
|
||||
Asia Pacific ("APAC")
|
9,496
|
|
|
5,868
|
|
|
28,296
|
|
|
20,338
|
|
||||
Total net revenue
|
$
|
81,962
|
|
|
$
|
78,103
|
|
|
$
|
271,983
|
|
|
$
|
219,126
|
|
|
April 30, 2016
|
|
July 31, 2015
|
||||
|
(In thousands)
|
||||||
Americas
|
$
|
22,130
|
|
|
$
|
21,807
|
|
EMEA
|
559
|
|
|
712
|
|
||
APAC
|
1,042
|
|
|
706
|
|
||
Total property and equipment, net
|
$
|
23,731
|
|
|
$
|
23,225
|
|
|
Three Months Ended April 30,
|
|
Nine Months ended April 30,
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
|
(In thousands)
|
||||||||||||||
Net revenue:
|
|
|
|
|
|
|
|
||||||||
Products and licenses
|
$
|
37,771
|
|
|
$
|
40,737
|
|
|
$
|
140,144
|
|
|
$
|
110,162
|
|
Services
|
44,191
|
|
|
37,366
|
|
|
131,839
|
|
|
108,964
|
|
||||
Total net revenue
|
81,962
|
|
|
78,103
|
|
|
271,983
|
|
|
219,126
|
|
||||
Cost of revenue
(1)
:
|
|
|
|
|
|
|
|
||||||||
Products and licenses
(2)
|
9,046
|
|
|
9,069
|
|
|
29,252
|
|
|
25,323
|
|
||||
Services
|
10,176
|
|
|
8,257
|
|
|
27,993
|
|
|
23,215
|
|
||||
Total cost of revenue
|
19,222
|
|
|
17,326
|
|
|
57,245
|
|
|
48,538
|
|
||||
Gross profit
|
62,740
|
|
|
60,777
|
|
|
214,738
|
|
|
170,588
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Research and development
(1)
|
17,300
|
|
|
16,709
|
|
|
52,594
|
|
|
46,783
|
|
||||
Sales and marketing
(1)
(2)
|
42,506
|
|
|
39,536
|
|
|
135,788
|
|
|
117,779
|
|
||||
General and administrative
(1) (3)
|
10,956
|
|
|
9,740
|
|
|
32,562
|
|
|
27,055
|
|
||||
Total operating expenses
|
70,762
|
|
|
65,985
|
|
|
220,944
|
|
|
191,617
|
|
||||
Loss from operations
|
(8,022
|
)
|
|
(5,208
|
)
|
|
(6,206
|
)
|
|
(21,029
|
)
|
||||
Other income (expense), net
|
309
|
|
|
206
|
|
|
571
|
|
|
(574
|
)
|
||||
Loss before provision for (benefit from) income taxes
|
(7,713
|
)
|
|
(5,002
|
)
|
|
(5,635
|
)
|
|
(21,603
|
)
|
||||
Provision for (benefit from) income taxes
|
(2,037
|
)
|
|
134
|
|
|
(2,226
|
)
|
|
754
|
|
||||
Net loss
|
$
|
(5,676
|
)
|
|
$
|
(5,136
|
)
|
|
$
|
(3,409
|
)
|
|
$
|
(22,357
|
)
|
|
|
|
|
|
|
|
|
||||||||
|
Three Months Ended April 30,
|
|
Nine Months ended April 30,
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Net revenue:
|
|
|
|
|
|
|
|
||||||||
Products and licenses
|
46.1
|
%
|
|
52.2
|
%
|
|
51.5
|
%
|
|
50.3
|
%
|
||||
Services
|
53.9
|
|
|
47.8
|
|
|
48.5
|
|
|
49.7
|
|
||||
Total net revenue
|
100.0
|
|
|
100.0
|
|
|
100.0
|
|
|
100.0
|
|
||||
Cost of revenue
(1)
:
|
|
|
|
|
|
|
|
||||||||
Products and licenses
(2)
|
11.0
|
|
|
11.6
|
|
|
10.7
|
|
|
11.6
|
|
||||
Services
|
12.4
|
|
|
10.6
|
|
|
10.3
|
|
|
10.6
|
|
||||
Total cost of revenue
|
23.4
|
|
|
22.2
|
|
|
21.0
|
|
|
22.2
|
|
||||
Gross margin
|
76.6
|
|
|
77.8
|
|
|
79.0
|
|
|
77.8
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Research and development
(1)
|
21.1
|
|
|
21.4
|
|
|
19.4
|
|
|
21.4
|
|
||||
Sales and marketing
(1)
(2)
|
51.9
|
|
|
50.6
|
|
|
49.9
|
|
|
53.7
|
|
||||
General and administrative
(1) (3)
|
13.4
|
|
|
12.5
|
|
|
12.0
|
|
|
12.3
|
|
||||
Total operating expenses
|
86.4
|
|
|
84.5
|
|
|
81.3
|
|
|
87.4
|
|
||||
Operating margin
|
(9.8
|
)
|
|
(6.7
|
)
|
|
(2.3
|
)
|
|
(9.6
|
)
|
||||
Other income (expense), net
|
0.4
|
|
|
0.3
|
|
|
0.2
|
|
|
(0.3
|
)
|
||||
Loss before provision for (benefit from) income taxes
|
(9.4
|
)
|
|
(6.4
|
)
|
|
(2.1
|
)
|
|
(9.9
|
)
|
||||
Provision for (benefit from) income taxes
|
(2.5
|
)
|
|
0.2
|
|
|
(0.8
|
)
|
|
0.3
|
|
||||
Net loss
|
(6.9
|
)%
|
|
(6.6
|
)%
|
|
(1.3
|
)%
|
|
(10.2
|
)%
|
(1)
|
Results above include stock-based compensation as follows:
|
|
Three Months Ended April 30,
|
|
Nine Months ended April 30,
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
|
(In thousands)
|
||||||||||||||
Stock-based compensation:
|
|
|
|
|
|
|
|
||||||||
Cost of revenue
|
$
|
1,014
|
|
|
$
|
1,001
|
|
|
$
|
3,363
|
|
|
$
|
3,405
|
|
Research and development
|
2,523
|
|
|
2,549
|
|
|
8,648
|
|
|
7,790
|
|
||||
Sales and marketing
|
5,726
|
|
|
5,941
|
|
|
18,287
|
|
|
18,136
|
|
||||
General and administrative
|
2,532
|
|
|
2,268
|
|
|
7,290
|
|
|
6,767
|
|
||||
Total stock-based compensation
|
$
|
11,795
|
|
|
$
|
11,759
|
|
|
$
|
37,588
|
|
|
$
|
36,098
|
|
(2)
|
Results above include intangible asset amortization expense as follows:
|
|
Three Months Ended April 30,
|
|
Nine Months ended April 30,
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
|
(In thousands)
|
||||||||||||||
Intangible asset amortization:
|
|
|
|
|
|
|
|
||||||||
Cost of products and licenses revenue
|
$
|
768
|
|
|
$
|
290
|
|
|
$
|
1,348
|
|
|
$
|
870
|
|
Sales and marketing
|
323
|
|
|
327
|
|
|
387
|
|
|
981
|
|
||||
Total intangible asset amortization expense
|
$
|
1,091
|
|
|
$
|
617
|
|
|
$
|
1,735
|
|
|
$
|
1,851
|
|
(3)
|
Results during the three and nine months ended April 30, 2016 include acquisition-related transaction costs of
$0.2 million
and
$0.6 million
.
|
|
Three Months Ended April 30,
|
|
Change in
|
|
Nine Months Ended April 30,
|
|
Change in
|
||||||||||||||||||||||
|
2016
|
|
2015
|
|
$
|
|
%
|
|
2016
|
|
2015
|
|
$
|
|
%
|
||||||||||||||
|
(Dollars in thousands)
|
||||||||||||||||||||||||||||
Products and licenses
|
$
|
37,771
|
|
|
$
|
40,737
|
|
|
$
|
(2,966
|
)
|
|
(7.3
|
)%
|
|
$
|
140,144
|
|
|
$
|
110,162
|
|
|
$
|
29,982
|
|
|
27.2
|
%
|
Services
|
44,191
|
|
|
37,366
|
|
|
6,825
|
|
|
18.3
|
%
|
|
131,839
|
|
|
108,964
|
|
|
22,875
|
|
|
21.0
|
%
|
||||||
Total net revenue
|
$
|
81,962
|
|
|
$
|
78,103
|
|
|
$
|
3,859
|
|
|
4.9
|
%
|
|
$
|
271,983
|
|
|
$
|
219,126
|
|
|
$
|
52,857
|
|
|
24.1
|
%
|
|
Three Months Ended April 30,
|
|
Change in
|
|
Nine Months Ended April 30,
|
|
Change in
|
||||||||||||||||||||||
|
2016
|
|
2015
|
|
$
|
|
%
|
|
2016
|
|
2015
|
|
$
|
|
%
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
(Dollars in thousands)
|
||||||||||||||||||||||||||||
Products and Licenses Gross Profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Products and licenses gross profit
|
$
|
28,725
|
|
|
$
|
31,668
|
|
|
$
|
(2,943
|
)
|
|
(9.3
|
)%
|
|
$
|
110,892
|
|
|
$
|
84,839
|
|
|
$
|
26,053
|
|
|
30.7
|
%
|
Products and licenses gross margin
|
76.1
|
%
|
|
77.7
|
%
|
|
|
|
(1.6
|
)
|
|
79.1
|
%
|
|
77.0
|
%
|
|
|
|
2.1
|
|
||||||||
Services Gross Profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Services gross profit
|
$
|
34,015
|
|
|
$
|
29,109
|
|
|
$
|
4,906
|
|
|
16.9
|
%
|
|
$
|
103,846
|
|
|
$
|
85,749
|
|
|
$
|
18,097
|
|
|
21.1
|
%
|
Services gross margin
|
77.0
|
%
|
|
77.9
|
%
|
|
|
|
(0.9
|
)
|
|
78.8
|
%
|
|
78.7
|
%
|
|
|
|
0.1
|
|
||||||||
Total Gross Profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Total gross profit
|
$
|
62,740
|
|
|
$
|
60,777
|
|
|
$
|
1,963
|
|
|
3.2
|
%
|
|
$
|
214,738
|
|
|
$
|
170,588
|
|
|
$
|
44,150
|
|
|
25.9
|
%
|
Total gross margin
|
76.5
|
%
|
|
77.8
|
%
|
|
|
|
(1.3
|
)
|
|
79.0
|
%
|
|
77.8
|
%
|
|
|
|
1.2
|
|
|
Three Months Ended April 30,
|
|
Change in
|
|
Nine Months Ended April 30,
|
|
Change in
|
||||||||||||||||||||||
|
2016
|
|
2015
|
|
$
|
|
%
|
|
2016
|
|
2015
|
|
$
|
|
%
|
||||||||||||||
|
(Dollars in thousands)
|
||||||||||||||||||||||||||||
Research and development
|
$
|
17,300
|
|
|
$
|
16,709
|
|
|
$
|
591
|
|
|
3.5
|
%
|
|
$
|
52,594
|
|
|
$
|
46,783
|
|
|
$
|
5,811
|
|
|
12.4
|
%
|
Sales and marketing
|
42,506
|
|
|
39,536
|
|
|
2,970
|
|
|
7.5
|
%
|
|
135,788
|
|
|
117,779
|
|
|
18,009
|
|
|
15.3
|
%
|
||||||
General and administrative
|
10,956
|
|
|
9,740
|
|
|
1,216
|
|
|
12.5
|
%
|
|
32,562
|
|
|
27,055
|
|
|
5,507
|
|
|
20.4
|
%
|
||||||
Total operating expenses
|
$
|
70,762
|
|
|
$
|
65,985
|
|
|
$
|
4,777
|
|
|
7.2
|
%
|
|
$
|
220,944
|
|
|
$
|
191,617
|
|
|
$
|
29,327
|
|
|
15.3
|
%
|
|
Three Months Ended April 30,
|
|
Change in
|
|
Nine Months Ended April 30,
|
|
Change in
|
||||||||||||||||||||||
|
2016
|
|
2015
|
|
$
|
|
%
|
|
2016
|
|
2015
|
|
$
|
|
%
|
||||||||||||||
|
(Dollars in thousands)
|
||||||||||||||||||||||||||||
Provision for (benefit from) income taxes
|
$
|
(2,037
|
)
|
|
$
|
134
|
|
|
$
|
(2,171
|
)
|
|
(1,620.1
|
)%
|
|
$
|
(2,226
|
)
|
|
$
|
754
|
|
|
$
|
(2,980
|
)
|
|
(395.2
|
)%
|
|
|
April 30, 2016
|
|
July 31, 2015
|
||||
|
|
(In thousands)
|
||||||
Cash and cash equivalents
|
|
$
|
110,827
|
|
|
$
|
103,124
|
|
Short-term investments
|
|
166,346
|
|
|
227,712
|
|
||
Total cash, cash equivalents and short-term investments
|
|
$
|
277,173
|
|
|
$
|
330,836
|
|
|
|
|
|
|
||||
Working Capital
|
|
$
|
191,788
|
|
|
$
|
258,567
|
|
|
|
Nine Months Ended April 30,
|
||||||
|
|
2016
|
|
2015
|
||||
|
|
(In thousands)
|
||||||
Net cash provided by operating activities
|
|
$
|
59,969
|
|
|
$
|
43,559
|
|
Net cash provided by (used in) investing activities
|
|
$
|
12,834
|
|
|
$
|
(42,585
|
)
|
Net cash provided by (used in) financing activities
|
|
$
|
(65,203
|
)
|
|
$
|
12,565
|
|
▪
|
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 accounting principles generally accepted in the United States;
|
▪
|
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;
|
▪
|
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 or enhancements;
|
•
|
our failure or inability to predict changes in our industry or end customers' demands or to design products or enhancements that meet end customers' increasing demands;
|
•
|
defects, errors or failures in any of our products or enhancements;
|
•
|
the inability of our products 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 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 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;
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•
|
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.
|
Period
|
|
Total Number of Shares Purchased (1) (2)
|
|
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 (2)
|
||||||
|
|
(in thousands)
|
|
|
|
(in thousands)
|
|
(in thousands)
|
||||||
February 1, 2016 to February 29, 2016
|
|
748
|
|
|
(1)
|
|
748
|
|
|
$
|
50,000
|
|
||
March 1, 2016 to March 31, 2016
|
|
1,233
|
|
|
$
|
15.88
|
|
|
1,233
|
|
|
$
|
30,420
|
|
April 1, 2016 to April 30, 2016
|
|
359
|
|
|
$
|
15.17
|
|
|
359
|
|
|
$
|
24,966
|
|
|
|
Infoblox Inc.
|
|
|
|
Date: June 2, 2016
|
By:
|
/s/ Janesh Moorjani
|
|
|
Janesh Moorjani
Chief Financial Officer
|
|
|
(Principal Financial Officer)
|
Exhibit Number
|
|
Exhibit Title
|
2.1
|
|
Agreement and Plan of Merger dated February 6, 2016 with IID Security, Inc., Niners Acquisition Sub, Inc. and Shareholder Representative Services, LLC † (1)
|
10.1*
|
|
Separation Agreement between Thorsten Freitag and the Company, dated April 6, 2016
|
31.1*
|
|
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.
|
31.2*
|
|
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.
|
32.1*
|
|
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.
|
32.2*
|
|
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.
|
1 Year Infoblox Inc. Chart |
1 Month Infoblox Inc. Chart |
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