Nimble Storage Inc

CIK:0001452751|SEC Filings

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2015
Revenue:
Product	$ 322,114	$ 265,602	$ 198,129
Support and service	80,483	56,613	29,544
Total revenue	402,597	322,215	227,673
Cost of revenue:
Product	110,651	86,506	62,780
Support and service	35,002	26,129	16,173
Total cost of revenue	145,653	112,635	78,953
Gross profit	256,944	209,580	148,720
Operating expenses:
Research and development	116,222	93,990	70,338
Sales and marketing	254,919	197,979	143,575
General and administrative	42,420	36,247	30,884
Total operating expenses	413,561	328,216	244,797
Loss from operations	(156,617)	(118,636)	(96,077)
Interest income, net	274	240	139
Other expense, net	(629)	(656)	(2,071)
Loss before provision for income taxes	(156,972)	(119,052)	(98,009)
Provision for income taxes	1,343	1,017	837
Net loss	$ (158,315)	$ (120,069)	$ (98,846)
Net loss per share, basic and diluted	$ (1.85)	$ (1.52)	$ (1.37)
Weighted-average shares used to compute net loss per share, basic and diluted	85,541	78,932	72,304

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2015
Cash flows from operating activities:
Net loss	$ (158,315)	$ (120,069)	$ (98,846)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	22,596	15,598	8,753
Stock-based compensation expense	95,542	83,304	57,067
Loss on disposal of property and equipment	145	182	0
Provision (recoveries) for allowance for doubtful accounts	3	25	(32)
Provision (recoveries) for excess and obsolete inventories	635	157	(101)
Changes in operating assets and liabilities:
Accounts receivable	(13,907)	(15,186)	(17,563)
Inventories	(9,018)	(3,930)	(6,158)
Prepaid expenses and other assets	(3,611)	(663)	(1,841)
Short term restricted cash	464	(793)	0
Accounts payable	8,890	7,661	8,451
Deferred revenue	29,219	40,399	40,937
Accrued and other liabilities	11,761	(930)	14,709
Net cash provided by (used in) operating activities	(15,596)	5,755	5,376
Cash flows from investing activities:
Purchase of property and equipment	(23,928)	(29,423)	(20,820)
Purchase of intangible asset	(938)	0	0
Change in restricted cash	(6)	3,909	(83)
Net cash used in investing activities	(24,872)	(25,514)	(20,903)
Cash flows from financing activities:
Proceeds from issuance of common stock, net of issuance costs	0	0	(1,310)
Proceeds from exercise of stock options, net of repurchases	4,097	8,146	7,729
Proceeds from issuance of stock under employee stock purchase plan	10,131	14,321	9,227
Excess tax benefit from employee stock plans	0	551	163
Payment of taxes related to net settlement of restricted stock units	0	0	(125)
Net cash provided by financing activities	14,228	23,018	15,684
Foreign exchange impact on cash and cash equivalents	(106)	(493)	(249)
Net increase (decrease) in cash and cash equivalents	(26,346)	2,766	(92)
Cash and cash equivalents, beginning of period	211,160	208,394	208,486
Cash and cash equivalents, end of period	184,814	211,160	208,394
Supplemental disclosure of cash flow information:
Cash paid for income taxes	1,432	594	394
Cash paid for interest	93	105	23
Supplemental disclosure of noncash investing and financing activities:
Transfers of evaluation units from inventory to property and equipment	7,984	3,724	5,782
Purchase of property and equipment not yet paid	3,497	3,505	6,279
Vesting of early exercised stock options	605	1,265	2,340
Purchase of intangible asset not yet paid	$ 312	$ 0	$ 0

Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 31, 2017	Jan. 31, 2016
Current assets:
Cash and cash equivalents	$ 184,814	$ 211,160
Restricted cash, current	409	793
Accounts receivable, net of allowance for doubtful accounts of $25 as of January 31, 2017 and 2016, respectively	64,336	50,432
Inventories	21,944	15,994
Prepaid expenses and other current assets	8,540	5,212
Total current assets	280,043	283,591
Property and equipment, net	51,258	47,404
Intangible asset, net	1,007	0
Other long-term assets	712	754
Total assets	333,020	331,749
Current liabilities:
Accounts payable	33,008	24,330
Accrued compensation and benefits	28,914	19,325
Deferred revenue, current portion	71,121	54,580
Other current liabilities	12,724	8,933
Total current liabilities	145,767	107,168
Deferred revenue, non-current portion	72,943	60,265
Other long-term liabilities	7,280	8,708
Total liabilities	225,990	176,141
Commitments and contingencies (Note 5)
Stockholders' equity:
Preferred stock, par value of $0.001 per share; 5,000 shares authorized, no shares issued and outstanding as of January 31, 2017 and 2016
Common stock, par value of $0.001 per share; 750,000 shares authorized as of January 31, 2017 and 2016, respectively; 88,865 and 82,120 shares issued and outstanding as of January 31, 2017 and 2016, respectively	79	75
Additional paid-in capital	586,111	476,271
Accumulated other comprehensive loss	(838)	(731)
Accumulated deficit	(478,322)	(320,007)
Total stockholders' equity	107,030	155,608
Total liabilities and stockholders' equity	$ 333,020	$ 331,749