Smartsheet (SMAR) 10-Q 6 Jun 24 2025 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Apr. 30, 2024	May 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2024
Document Transition Report	false
Entity File Number	001-38464
Entity Registrant Name	Smartsheet Inc.
Entity Incorporation, State or Country Code	WA
Entity Tax Identification Number	20-2954357
Entity Address, Address Line One	500 108th Ave NE, Suite 200
Entity Address, City or Town	Bellevue,
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98004
City Area Code	(844)
Local Phone Number	324-2360
Title of 12(b) Security	Class A common stock, no par value per share
Trading Symbol	SMAR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding (in shares)		138,341,751
Document Fiscal Year Focus	2025
Amendment Flag	false
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001366561
Current Fiscal Year End Date	--01-31

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Revenue
Total revenue	$ 262,984	$ 219,886
Cost of revenue
Total cost of revenue	48,322	45,881
Gross profit	214,662	174,005
Operating expenses
Research and development	62,437	56,190
Sales and marketing	125,239	114,952
General and administrative	38,115	34,978
Total operating expenses	225,791	206,120
Loss from operations	(11,129)	(32,115)
Interest income	7,826	5,217
Other income (expense), net	(377)	(536)
Loss before income tax provision	(3,680)	(27,434)
Income tax provision	5,178	2,436
Net loss	$ (8,858)	$ (29,870)
Net loss per share, basic (in dollars per share)	$ (0.06)	$ (0.23)
Net loss per share, diluted (in dollars per share)	$ (0.06)	$ (0.23)
Weighted-average shares outstanding used to compute net loss per share, basic (in shares)	137,428	132,542
Weighted-average shares outstanding used to compute net loss per share, diluted (in shares)	137,428	132,542
Subscription
Revenue
Total revenue	$ 249,095	$ 206,001
Cost of revenue
Total cost of revenue	35,772	33,167
Professional services
Revenue
Total revenue	13,889	13,885
Cost of revenue
Total cost of revenue	$ 12,550	$ 12,714

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (8,858)	$ (29,870)
Other comprehensive loss
Net unrealized gain (loss) on available-for-sale securities	(998)	189
Foreign currency translation adjustments	12	(646)
Total other comprehensive loss	(986)	(457)
Comprehensive loss	$ (9,844)	$ (30,327)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Current assets:
Cash and cash equivalents	$ 333,502	$ 282,094
Short-term investments	336,015	346,701
Accounts receivable, net of allowances of $5,579 and $6,560, respectively	156,818	238,708
Prepaid expenses and other current assets	83,423	64,366
Total current assets	909,758	931,869
Restricted cash	18	19
Deferred commissions	152,833	148,867
Property and equipment, net	43,533	42,362
Operating lease right-of-use assets	36,882	39,480
Intangible assets, net	25,251	27,960
Goodwill	141,477	141,477
Other long-term assets	5,979	5,445
Total assets	1,315,731	1,337,479
Current liabilities:
Accounts payable	862	2,937
Accrued compensation and related benefits	59,288	77,453
Other accrued liabilities	30,552	30,534
Operating lease liabilities, current	15,711	16,040
Finance lease liabilities, current	239	216
Deferred revenue	541,734	568,670
Total current liabilities	648,386	695,850
Operating lease liabilities, non-current	29,692	33,100
Finance lease liabilities, non-current	398	455
Deferred revenue, non-current	2,023	1,785
Other long-term liabilities	424	434
Total liabilities	680,923	731,624
Commitments and contingencies (Note 12)
Shareholders’ equity:
Preferred stock, no par value; 10,000,000 shares authorized, no shares issued or outstanding as of April 30, 2024 and January 31, 2024	0	0
Additional paid-in capital	1,507,602	1,468,805
Accumulated other comprehensive income (loss)	(1,132)	(146)
Accumulated deficit	(871,662)	(862,804)
Total shareholders’ equity	634,808	605,855
Total liabilities and shareholders’ equity	1,315,731	1,337,479
Common Class A
Shareholders’ equity:
Common stock	0	0
Common Class B
Shareholders’ equity:
Common stock	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Current assets:
Accounts receivable, allowances	$ 5,579	$ 6,560
Shareholders’ equity:
Preferred stock authorized (in shares)	10,000,000	10,000,000
Preferred stock issued (in shares)	0	0
Preferred stock outstanding (in shares)	0	0
Common Class A
Shareholders’ equity:
Common stock authorized (in shares)	500,000,000	500,000,000
Common stock issued (in shares)	137,665,227	136,884,011
Common stock outstanding (in shares)	137,665,227	136,884,011
Common Class B
Shareholders’ equity:
Common stock authorized (in shares)	500,000,000	500,000,000
Common stock issued (in shares)	0	0
Common stock outstanding (in shares)	0	0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock (Class A and B)	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning balance, common stock (in shares) at Jan. 31, 2023		131,845,028
Beginning balance at Jan. 31, 2023	$ 485,658	$ 0	$ 1,243,730	$ (758,173)	$ 101
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans (in shares)		1,067,430
Issuance of common stock under employee stock plans	589		589
Taxes paid related to net share settlement of equity awards	(621)		(621)
Share-based compensation expense	52,666		52,666
Other comprehensive loss	(457)				(457)
Net loss	(29,870)			(29,870)
Ending balance, common stock (in shares) at Apr. 30, 2023		132,912,458
Ending balance at Apr. 30, 2023	507,965	$ 0	1,296,364	(788,043)	(356)
Beginning balance, common stock (in shares) at Jan. 31, 2024		136,884,011
Beginning balance at Jan. 31, 2024	605,855	$ 0	1,468,805	(862,804)	(146)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans (in shares)		781,216
Issuance of common stock under employee stock plans	692		692
Taxes paid related to net share settlement of equity awards	(13,055)		(13,055)
Share-based compensation expense	51,160		51,160
Other comprehensive loss	(986)				(986)
Net loss	(8,858)
Ending balance, common stock (in shares) at Apr. 30, 2024		137,665,227
Ending balance at Apr. 30, 2024	$ 634,808	$ 0	$ 1,507,602	$ (871,662)	$ (1,132)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Cash flows from operating activities
Net loss	$ (8,858)	$ (29,870)
Adjustments to reconcile net loss to net cash provided by operating activities:
Share-based compensation expense	49,920	51,779
Depreciation and amortization	6,618	6,410
Net amortization of premiums (discounts) on investments	(3,034)	(2,028)
Amortization of deferred commission costs	15,661	11,429
Unrealized foreign currency loss	55	381
Non-cash operating lease costs	2,598	3,155
Other, net	2,106	872
Changes in operating assets and liabilities:
Accounts receivable	80,028	45,746
Prepaid expenses and other current assets	(19,099)	(6,981)
Other long-term assets	(754)	(267)
Accounts payable	(1,939)	(246)
Other accrued liabilities	(89)	1,581
Accrued compensation and related benefits	(22,896)	(20,552)
Deferred commissions	(19,627)	(18,701)
Deferred revenue	(26,898)	(4,452)
Other long-term liabilities	(10)	210
Operating lease liabilities	(3,704)	(3,895)
Net cash provided by operating activities	50,078	34,571
Cash flows from investing activities
Purchases of short-term investments	(112,913)	(62,010)
Maturities of short-term investments	125,647	96,885
Purchases of property and equipment	(613)	(853)
Proceeds from sale of property and equipment	7	16
Capitalized internal-use software development costs	(3,751)	(2,397)
Net cash provided by investing activities	8,377	31,641
Cash flows from financing activities
Proceeds from exercise of stock options	693	532
Taxes paid related to net share settlement of restricted stock units	(13,055)	(621)
Proceeds from contributions to Employee Stock Purchase Plan	5,494	5,783
Principal payments of finance leases	(34)	0
Net cash provided by (used in) financing activities	(6,902)	5,694
Effects of changes in foreign currency exchange rates on cash, cash equivalents, and restricted cash	(196)	(108)
Net increase in cash, cash equivalents, and restricted cash	51,357	71,798
Cash, cash equivalents, and restricted cash at beginning of period	282,442	223,757
Cash, cash equivalents, and restricted cash at end of period	333,799	295,555
Supplemental disclosures
Cash paid for interest	11	0
Cash paid for income tax	984	69
Accrued purchases of property and equipment, including internal-use software	825	503
Share-based compensation expense capitalized in internal-use software development costs	$ 1,212	$ 803

Overview and Basis of Presentat

Overview and Basis of Presentation	3 Months Ended
	Apr. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Overview and Basis of Presentation	Overview and Basis of Presentation Description of business Smartsheet Inc. (the “Company,” “we,” “our”) was incorporated in the State of Washington in 2005, and is headquartered in Bellevue, Washington. Smartsheet, the enterprise work management platform, empowers organizations to innovate and achieve results quickly, securely, and at scale through effective collaboration and streamlined workflows. By uniting people, content, and work, Smartsheet provides powerful capabilities that revolutionize the way teams operate. Smartsheet makes outcomes reliable, keeps customer data safe, and ensures users are on the same page, making it ideal for organizations seeking efficient, impactful collaborative work management. Customers access their accounts via a web-based interface or a mobile application. The Company also offers professional services, which primarily consist of consulting and training services. Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated balance sheet as of January 31, 2024 was derived from the audited consolidated financial statements as of that date but does not include all of the information and notes required by GAAP for complete financial statements. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended January 31, 2024, filed with the SEC on March 20, 2024. The condensed consolidated financial statements include the results of Smartsheet Inc. and its wholly owned subsidiaries, including those located in the United States, the United Kingdom, Germany, Australia, Japan, and Costa Rica. All intercompany balances and transactions have been eliminated upon consolidation. In the opinion of management, the information contained herein reflects all adjustments necessary for a fair presentation of our condensed consolidated financial statements. All such adjustments are of a normal, recurring nature. The results of operations for the three months ended April 30, 2024 are not necessarily indicative of results to be expected for the full year ending January 31, 2025, or for any other interim period, or for any future year. Use of estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. The Company continuously evaluates its estimates, which are based on historical experience and other current assumptions that its management believes are reasonable under the circumstances. Actual results could differ from those estimates. The Company’s most significant estimates and judgments involve the measurement of fair values of share-based compensation awards; determination of the amortization period for capitalized sales commission costs; and revenue recognition with respect to the allocation of transaction consideration for the Company’s offerings, among others.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Apr. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies For a summary of the Company’s significant accounting policies refer to Note 2, Summary of Significant Accounting Policies, of our Annual Report on Form 10-K for the fiscal year ended January 31, 2024. Segment information The Company operates as one operating segment. The Company’s chief operating decision maker is its Chief Executive Officer, who reviews financial information for purposes of making operating decisions, assessing financial performance, and allocating resources. Concentrations of risk and significant customers Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash, cash equivalents, short-term investments, and accounts receivable. The Company maintains its cash accounts with financial institutions where deposits, at times, exceed the Federal Deposit Insurance Corporation (“FDIC”) limits. No individual customer represented more than 10% of accounts receivable as of April 30, 2024 or January 31, 2024. No individual customer represented more than 10% of revenue for the three months ended April 30, 2024 or 2023. Recent accounting pronouncements There have been no recent accounting pronouncements, changes in accounting pronouncements, or recently adopted accounting guidance during the three months ended April 30, 2024 that have had a material impact on our condensed consolidated financial statements. Recent accounting pronouncements not yet adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The new guidance requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280, on an interim and annual basis. The standard is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact of adopting ASU 2023-07. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact of adopting ASU 2023-09.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Apr. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers During the three months ended April 30, 2024 and 2023, the Company recognized $222.2 million and $178.4 million of subscription revenue, respectively, and $5.4 million and $5.7 million of professional services revenue, respectively, which were included in the deferred revenue balance as of January 31, 2024 and 2023, respectively. As of April 30, 2024, approximately $749.6 million of revenue, including amounts already invoiced and amounts contracted but not yet invoiced, was expected to be recognized from remaining performance obligations, of which $741.2 million related to subscriptions and $8.4 million related to professional services. Approximately 82% of revenue related to remaining performance obligations is expected to be recognized in the next 12 months. Deferred commissions were $152.8 million as of April 30, 2024 and $148.9 million as of January 31, 2024.

Deferred Commissions

Deferred Commissions	3 Months Ended
	Apr. 30, 2024
Revenue from Contract with Customer [Abstract]
Deferred Commissions	Revenue from Contracts with Customers During the three months ended April 30, 2024 and 2023, the Company recognized $222.2 million and $178.4 million of subscription revenue, respectively, and $5.4 million and $5.7 million of professional services revenue, respectively, which were included in the deferred revenue balance as of January 31, 2024 and 2023, respectively. As of April 30, 2024, approximately $749.6 million of revenue, including amounts already invoiced and amounts contracted but not yet invoiced, was expected to be recognized from remaining performance obligations, of which $741.2 million related to subscriptions and $8.4 million related to professional services. Approximately 82% of revenue related to remaining performance obligations is expected to be recognized in the next 12 months. Deferred commissions were $152.8 million as of April 30, 2024 and $148.9 million as of January 31, 2024.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Apr. 30, 2024
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The following table presents calculations for basic and diluted net loss per share (in thousands, except per share data): Three Months Ended April 30, 2024 2023 Numerator: Net loss $ (8,858) $ (29,870) Denominator: Weighted-average shares outstanding 137,428 132,542 Net loss per share, basic and diluted $ (0.06) $ (0.23) The following outstanding shares of common stock equivalents as of the periods presented were excluded from the computation of diluted net loss per share for the periods presented because the impact of including them would have been anti-dilutive (in thousands): April 30, 2024 2023 Shares subject to outstanding common stock awards 11,774 13,902 Shares issuable pursuant to the 2018 Employee Stock Purchase Plan 370 378 Total potentially dilutive shares 12,144 14,280

Investments

Investments	3 Months Ended
	Apr. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	Investments All cash equivalents and short-term investments were designated as available-for-sale securities as of April 30, 2024. The following tables present the amortized costs, unrealized gains and losses, and estimated fair values of the Company’s cash equivalents and short-term investments (in thousands): April 30, 2024 Amortized Cost (1) Unrealized Gains Unrealized Losses Estimated Fair Value Cash equivalents: Money market funds $ 108,411 $ — $ — $ 108,411 Total cash equivalents 108,411 — — 108,411 Short-term investments: Corporate bonds 135,560 12 (286) 135,286 U.S. Treasury securities 167,754 3 (432) 167,325 Commercial paper 20,006 — — 20,006 Agency securities 13,401 — (3) 13,398 Total short-term investments 336,721 15 (721) 336,015 Total $ 445,132 $ 15 $ (721) $ 444,426 (1) Excludes interest receivable of $2.1 million, which is included in Prepaid expenses and other current assets on the condensed consolidated balance sheets. January 31, 2024 Amortized Cost (1) Unrealized Gains Unrealized Losses Estimated Fair Value Cash equivalents: Money market funds $ 79,082 $ — $ — $ 79,082 Commercial paper 4,497 — — 4,497 Total cash equivalents 83,579 — — 83,579 Short-term investments: Corporate bonds 99,547 158 (9) 99,696 U.S. Treasury securities 169,825 123 — 169,948 Commercial paper 57,755 — — 57,755 Agency securities 19,282 21 (1) 19,302 Total short-term investments 346,409 302 (10) 346,701 Total $ 429,988 $ 302 $ (10) $ 430,280 (1) Excludes interest receivable of $1.5 million, which is included in Prepaid expenses and other current assets on the condensed consolidated balance sheets. The Company does not intend to sell, nor is it more likely than not that we will be required to sell, any investments in unrealized loss positions before recovery of their amortized cost basis. We did not recognize any credit losses related to our investments during the three months ended April 30, 2024 or 2023. The unrealized gains and losses on our short-term investments were primarily due to changes in interest rates subsequent to the initial purchase. There were no material realized gains or losses from available-for-sale securities that were reclassified out of accumulated other comprehensive income (loss) during the three months ended April 30, 2024 or 2023. None of the short-term investments held as of April 30, 2024 or January 31, 2024 were in a continuous unrealized loss position for greater than 12 months. The following table presents the contractual maturities of the Company’s short-term investments (in thousands): April 30, 2024 Amortized Cost Estimated Fair Value Due within one year $ 255,588 $ 255,285 Due between one to five years 81,133 80,730 Total $ 336,721 $ 336,015

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Apr. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Assets and liabilities recorded at fair value in the condensed consolidated financial statements are categorized based upon the level of judgment associated with the inputs used to measure their fair value. The lowest level of significant input determines the placement of the fair value measurement within the following hierarchical levels: • Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2: Observable inputs, other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3: Unobservable inputs that are supported by little or no market activity. Assets and liabilities measured at fair value on a recurring basis The following tables present information about the Company’s financial assets and liabilities that are measured at fair value and indicate the fair value hierarchy of the valuation inputs used (in thousands): April 30, 2024 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 108,411 $ — $ — $ 108,411 Total cash equivalents 108,411 — — 108,411 Short-term investments: Corporate bonds — 135,286 — 135,286 U.S. Treasury securities — 167,325 — 167,325 Commercial paper — 20,006 — 20,006 Agency securities — 13,398 — 13,398 Total short-term investments — 336,015 — 336,015 Total assets $ 108,411 $ 336,015 $ — $ 444,426 January 31, 2024 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 79,082 $ — $ — $ 79,082 Commercial paper — 4,497 — 4,497 Total cash equivalents 79,082 4,497 — 83,579 Short-term investments: Corporate bonds — 99,696 — 99,696 U.S. Treasury securities — 169,948 — 169,948 Commercial paper — 57,755 — 57,755 Agency securities — 19,302 — 19,302 Total short-term investments — 346,701 — 346,701 Total assets $ 79,082 $ 351,198 $ — $ 430,280 The carrying amounts of certain financial instruments, including cash held in banks, accounts receivable, and accounts payable, approximate fair value due to their short-term maturities and are excluded from the fair value tables above. It is the Company’s policy to recognize transfers of assets and liabilities between levels of the fair value hierarchy at the end of a reporting period. The Company does not transfer out of Level 3 and into Level 2 until observable inputs become available and reliable. There were no transfers between fair value measurement levels during the three months ended April 30, 2024 or 2023. Assets and liabilities measured at fair value on a non-recurring basis See Note 8, Goodwill and Net Intangible Assets , of these notes to our condensed consolidated financial statements for fair value measurements of certain assets and liabilities recorded at fair value on a non-recurring basis. The Company’s long-lived assets are measured at fair value on a non-recurring basis and are reduced if the assets are determined to be impaired. We have subleases for some of our operating lease right-of-use (“ROU”) assets. When applicable, the fair values of operating lease ROU assets and associated property and equipment are estimated as of the sublease execution date using an income approach by converting future sublease cash inflows and outflows to a single present value. Estimated cash flows are discounted at a rate commensurate with the inherent risks associated with the asset group to arrive at an estimate of fair value. As a result of the subjective nature of unobservable inputs used, these assets are classified within Level 3 of the fair value hierarchy.

Goodwill and Net Intangible Ass

Goodwill and Net Intangible Assets	3 Months Ended
	Apr. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Net Intangible Assets	Goodwill and Net Intangible Assets There were no changes in the carrying amount of goodwill or measurement period adjustments during the three months ended April 30, 2024. The following table presents the components of net intangible assets (in thousands): April 30, 2024 January 31, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Software technology $ 28,491 $ (21,655) $ 6,836 $ 28,491 $ (20,231) $ 8,260 Customer relationships 34,072 (18,112) 15,960 34,072 (16,941) 17,131 Trade names 4,100 (1,712) 2,388 4,100 (1,601) 2,499 Patents 170 (147) 23 170 (144) 26 Domain names 44 — 44 44 — 44 Total $ 66,877 $ (41,626) $ 25,251 $ 66,877 $ (38,917) $ 27,960 The following table presents the components of acquired intangible assets (dollars in thousands): April 30, 2024 January 31, 2024 Net Carrying Amount Weighted- Average Life (Years) Net Carrying Amount Weighted- Average Life (Years) Software technology $ 6,836 2.0 $ 8,260 2.1 Customer relationships 15,960 3.5 17,131 3.7 Trade names 2,388 5.4 2,499 5.6 Total $ 25,184 3.2 $ 27,890 3.4 Amortization expense related to intangible assets was $2.7 million in each of the three months ended April 30, 2024 and 2023. As of April 30, 2024, estimated remaining amortization expense for the finite-lived intangible assets by fiscal year is as follows (in thousands): Remainder of Fiscal 2025 $ 6,925 Fiscal 2026 7,916 Fiscal 2027 5,750 Fiscal 2028 3,454 Fiscal 2029 721 Thereafter 441 Total $ 25,207

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Apr. 30, 2024
Share-Based Payment Arrangement [Abstract]
Shareholders' Equity	Shareholders’ Equity The Company has issued incentive and non-qualifying stock options to employees and non-employee directors under the 2005 Stock Option/Restricted Stock Plan, the 2015 Equity Incentive Plan (the “2015 Plan”), and the 2018 Equity Incentive Plan (the “2018 Plan”). Employee stock options are granted with exercise prices at the fair value of the underlying common stock on the grant date, generally vest, based on continuous employment, over three The Company has also issued restricted stock units (“RSUs”) to employees and non-employee directors pursuant to the 2015 Plan and the 2018 Plan. Employee RSUs are measured based on the grant-date fair value of the awards and generally vest, based on continuous employment, over three The Company has also issued market-based performance share units (“PSUs”) to certain executives pursuant to the 2018 Plan. The number of shares that can be earned range from 0% to 200% of the target number of shares, based on the relative growth of the Company’s total shareholder return as compared to the total shareholder return of the Standard & Poor’s (“S&P”) Software and Services Select Index. PSUs vest over a three-year period, subject to continuous service with the Company. Compensation expense for PSUs with market conditions is measured using a Monte Carlo simulation approach and recorded over the vesting period under the graded-vesting attribution method. The target number of PSUs granted was 195,948 shares during the year ended January 31, 2024 and 194,624 shares during the three months ended April 30, 2024. These PSUs are measured over a two-year performance period ending in the fourth quarter of fiscal year 2026. PSU’s granted during the year ended January 31, 2023 have two separate performance periods. The first tranche of awards, which had a one-year performance period, vested during the year ended January 31, 2024. The second tranche of awards is measured over a two-year performance period starting on the date of grant and ending in the fourth quarter of fiscal year 2025. Stock options The following table includes a summary of the option activity during the three months ended April 30, 2024: Number of Options Weighted-Average Exercise Price Outstanding at January 31, 2024 3,517,075 $ 24.77 Granted — — Exercised (67,105) 10.30 Forfeited or canceled (37,893) 57.19 Outstanding at April 30, 2024 3,412,077 24.69 Exercisable at April 30, 2024 3,092,340 21.49 Restricted stock units The following table includes a summary of the RSU activity during the three months ended April 30, 2024: Number of Shares Weighted-Average Grant-Date Fair Value Outstanding at January 31, 2024 8,798,624 $ 45.41 Granted 532,653 41.07 Vested (1,011,111) 46.17 Forfeited or canceled (456,826) 45.03 Outstanding at April 30, 2024 7,863,340 45.04 Performance share units The following table includes a summary of the PSU activity during the three months ended April 30, 2024: Number of Shares Weighted-Average Grant-Date Fair Value Outstanding at January 31, 2024 321,463 $ 50.54 Granted 194,624 34.27 Vested — — Forfeited or canceled (17,963) 50.39 Outstanding at April 30, 2024 498,124 44.19 2018 Employee Stock Purchase Plan The Company adopted the 2018 Employee Stock Purchase Plan (“ESPP”) on April 26, 2018, with the effective date of our Initial Public Offering. Under the ESPP, eligible employees are able to purchase shares of the Company’s Class A common stock at a discount through payroll deductions of up to 15% of their compensation, subject to plan limitations. Purchases are accomplished through participation in discrete offering periods. Each offering period is six months (commencing each January 1 and July 1), with a purchase date following the end of the period, unless otherwise determined by our board of directors or our compensation committee. Employees may purchase shares at 85% of the lesser of the fair market value of the Company’s Class A common stock on (i) the first trading day of the applicable offering period or (ii) the last trading day of the purchase period in the applicable offering period. Shares available for issuance The following table includes a summary of the activity of shares available for issuance under the 2018 Plan and the ESPP during the three months ended April 30, 2024: 2018 Plan ESPP Balance at January 31, 2024 18,985,254 5,572,546 Authorized 6,844,200 1,368,840 Granted (727,277) — Forfeited or canceled 512,682 — Balance at April 30, 2024 25,614,859 6,941,386 The aggregate number of shares reserved for issuance under the ESPP will increase automatically on February 1 of each of the first 10 calendar years after the first offering date. The increase of shares is equal to 1% of the total outstanding shares of the Company’s Class A and Class B common stock as of the immediately preceding January 31 (rounded to the nearest whole share), or such lesser number of shares as may be determined by our board of directors. The aggregate number of shares issued under the ESPP, subject to stock-splits, recapitalizations or similar events, may not exceed 20,400,000 shares of the Company’s common stock. As of April 30, 2024, $8.1 million has been withheld on behalf of our employees for a future purchase under the ESPP and is recorded in accrued compensation and related benefits in the condensed consolidated balance sheets. Share-based compensation expense Share-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands): Three Months Ended April 30, 2024 2023 Cost of subscription revenue $ 3,052 $ 3,459 Cost of professional services revenue 1,738 1,910 Research and development 18,056 17,432 Sales and marketing 16,595 19,054 General and administrative 10,479 9,924 Total share-based compensation expense $ 49,920 $ 51,779 The Company has excluded $1.2 million and $0.9 million of capitalized software development costs from share-based compensation expense for the three months ended April 30, 2024 and 2023, respectively. As of April 30, 2024, there was a total of $338.0 million of unrecognized share-based compensation expense, which is expected to be recognized over a weighted-average period of 2.0 years. Share Repurchase Program In April 2024, the Company’s Board of Directors authorized the repurchase of up to $150.0 million of the Company’s outstanding Class A common stock. All repurchases under the program will be made through open market, block trades, and/or privately negotiated trades pursuant to 10b5-1 plans, in compliance with applicable securities laws and other requirements. The program has no minimum purchase commitment and it is authorized to extend over a period of up to 12 months. The timing, manner, price, and amount of the repurchase will be subject to the discretion of the Company’s management. The repurchase program does not obligate the Company to acquire any particular amount of Class A common stock and it may be suspended or discontinued at any time. When shares are repurchased, they will be immediately retired by the Company. We did not make any repurchases under the Share Repurchase Program during the three months ended April 30, 2024.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes for interim tax periods is generally determined using an estimate of the Company’s annual effective tax rate, excluding jurisdictions for which no tax benefit can be recognized due to valuation allowances, and adjusted for discrete tax items in the period. Each quarter the Company updates its estimate of the annual effective tax rate and makes a cumulative adjustment if the estimated annual tax rate has changed. The Company’s effective tax rate generally differs from the U.S. federal statutory tax rate primarily due to valuation allowances on deferred tax assets, U.S. Base Erosion and Anti-Abuse Tax (“BEAT”), state taxes, and non-deductible share-based compensation offset by tax credits and Foreign Derived Intangible Income (“FDII”) deductions. The Company recorded a provision for income taxes of $5.2 million and $2.4 million for the three months ended April 30, 2024 and 2023, respectively. The provision is primarily attributable to BEAT, income taxes in foreign jurisdictions, and state income taxes.

Leases

Leases	3 Months Ended
	Apr. 30, 2024
Leases [Abstract]
Leases	Leases The Company has operating leases primarily related to corporate offices and finance leases related to computer equipment. Our finance lease ROU assets are included in property and equipment, net in the condensed consolidated balance sheets. Our leases have remaining lease terms of less than one year to five years, some of which include options to extend the leases for up to five years. The components of lease expense recorded in the condensed consolidated statements of operations were as follows (in thousands): Three Months Ended April 30, 2024 2023 Operating lease cost $ 3,307 $ 3,981 Finance lease cost: Amortization of assets 55 — Interest on lease liabilities 16 — Short-term lease cost 114 180 Variable lease cost 711 851 Sublease income (627) (547) Total lease costs $ 3,576 $ 4,465 Other information related to leases was as follows (dollars in thousands): Three Months Ended April 30, 2024 2023 Supplemental cash flow information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 4,411 $ 4,720 Operating cash flows from finance leases 16 — Financing cash flows from finance leases 34 — Weighted-average remaining lease term (in years) Operating leases 3.7 4.3 Finance leases 2.4 0.0 Weighted-average discount rate Operating leases 5.5 % 5.2 % Finance leases 9.9 % — % As of April 30, 2024, remaining maturities of lease liabilities were as follows (in thousands): Operating Leases Finance Leases Remainder of Fiscal 2025 $ 12,108 $ 203 Fiscal 2026 14,707 270 Fiscal 2027 10,759 226 Fiscal 2028 6,328 — Fiscal 2029 5,292 — Thereafter 1,357 — Total lease payments 50,551 699 Less: imputed interest (5,148) (62) Total $ 45,403 $ 637 As of April 30, 2024, the future total minimum sublease payments to be received were as follows (in thousands): Sublease Receipts Remainder of Fiscal 2025 $ 2,058 Fiscal 2026 2,154 Fiscal 2027 700 Fiscal 2028 — Fiscal 2029 — Thereafter — Total $ 4,912
Leases	Leases The Company has operating leases primarily related to corporate offices and finance leases related to computer equipment. Our finance lease ROU assets are included in property and equipment, net in the condensed consolidated balance sheets. Our leases have remaining lease terms of less than one year to five years, some of which include options to extend the leases for up to five years. The components of lease expense recorded in the condensed consolidated statements of operations were as follows (in thousands): Three Months Ended April 30, 2024 2023 Operating lease cost $ 3,307 $ 3,981 Finance lease cost: Amortization of assets 55 — Interest on lease liabilities 16 — Short-term lease cost 114 180 Variable lease cost 711 851 Sublease income (627) (547) Total lease costs $ 3,576 $ 4,465 Other information related to leases was as follows (dollars in thousands): Three Months Ended April 30, 2024 2023 Supplemental cash flow information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 4,411 $ 4,720 Operating cash flows from finance leases 16 — Financing cash flows from finance leases 34 — Weighted-average remaining lease term (in years) Operating leases 3.7 4.3 Finance leases 2.4 0.0 Weighted-average discount rate Operating leases 5.5 % 5.2 % Finance leases 9.9 % — % As of April 30, 2024, remaining maturities of lease liabilities were as follows (in thousands): Operating Leases Finance Leases Remainder of Fiscal 2025 $ 12,108 $ 203 Fiscal 2026 14,707 270 Fiscal 2027 10,759 226 Fiscal 2028 6,328 — Fiscal 2029 5,292 — Thereafter 1,357 — Total lease payments 50,551 699 Less: imputed interest (5,148) (62) Total $ 45,403 $ 637 As of April 30, 2024, the future total minimum sublease payments to be received were as follows (in thousands): Sublease Receipts Remainder of Fiscal 2025 $ 2,058 Fiscal 2026 2,154 Fiscal 2027 700 Fiscal 2028 — Fiscal 2029 — Thereafter — Total $ 4,912

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal matters

Geographic Information

Geographic Information	3 Months Ended
	Apr. 30, 2024
Segment Reporting [Abstract]
Geographic Information	Geographic Information Revenue Revenue by geographic location is determined by the location of the Company’s customers. The following table sets forth revenue by geographic area (in thousands): Three Months Ended April 30, 2024 2023 United States $ 222,827 $ 185,595 EMEA 21,206 17,724 APJ 9,004 8,207 Americas other than the United States 9,947 8,360 Total $ 262,984 $ 219,886 No individual country other than the United States contributed more than 10% of total revenue during the three months ended April 30, 2024 or 2023. Long-lived assets Long-lived assets by geographic location is based on the location of the legal entity that owns the asset. The following table sets forth long-lived assets by geographic area (in thousands): April 30, 2024 January 31, 2024 United States $ 42,579 $ 45,743 EMEA 2,197 2,266 APJ 3,577 3,793 Americas other than the United States 536 573 Total $ 48,889 $ 52,375

Supplemental Condensed Consolid

Supplemental Condensed Consolidated Financial Statement Information	3 Months Ended
	Apr. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Condensed Consolidated Financial Statement Information	Supplemental Condensed Consolidated Financial Statement Information Prepaid expenses and other current assets Prepaid expenses and other current assets consisted of the following (in thousands): April 30, 2024 January 31, 2024 Prepaid expenses 78,701 $ 57,685 Other current assets 4,722 6,681 Total prepaid expenses and other current assets $ 83,423 $ 64,366 Restricted cash Restricted cash was $0.3 million as of April 30, 2024 and January 31, 2024, primarily related to Australian employee contributions to the ESPP. Cash as reported on the condensed consolidated statements of cash flows includes the aggregate amounts of cash and cash equivalents and restricted cash as shown on the condensed consolidated balance sheets. Cash as reported on the condensed consolidated statements of cash flows consisted of the following (in thousands): April 30, 2024 2023 Cash and cash equivalents $ 333,502 $ 294,946 Restricted cash included in prepaid expenses and other current assets 279 420 Restricted cash 18 189 Total cash, cash equivalents, and restricted cash $ 333,799 $ 295,555

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Pay vs Performance Disclosure
Net loss	$ (8,858)	$ (29,870)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Apr. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Jolene Marshall [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Rule 10b5-1 Plan Elections During the fiscal quarter ended April 30, 2024, our Chief Executive Officer, Mark P. Mader, our Chief Operating Officer, Stephen Branstetter, and our Chief Legal Officer, Jolene Marshall each adopted a “Rule 10b5-1 trading arrangement” as defined in Regulation S-K, Item 408, intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), as amended (the “Rule”). The applicable Rule 10b5-1 trading arrangement included a representation from each of Mr. Mader, Mr. Branstetter, and Ms. Marshall to the broker administering the plan that they were not in possession of any material nonpublic information regarding the Company or the securities subject to the plan. A similar representation was made to the Company in connection with the adoption of the plan, as required under the Company’s insider trading policy. Those representations were made as of the date of adoption of the Rule 10b5-1 trading arrangement, and speak only as of that date. In making those representations, there is no assurance with respect to any material nonpublic information of which Mr. Mader, Mr. Branstetter, or Ms. Marshall were unaware, or with respect to any material nonpublic information acquired by Mr. Mader, Mr. Branstetter, Ms. Marshall or the Company after the date of the representation. Name & Title Date Adopted Aggregate Number of Shares of Class A Common Stock to be Purchased or Sold Pursuant to Trading Arrangement (1) Duration (2) Date Terminated Mark P. Mader - Chief Executive Officer March 28, 2024 137,916 March 28, 2024 - November 3, 2025 N/A Stephen Branstetter - Chief Operating Officer March 28, 2024 15,903 March 28, 2024 - February 14, 2025 N/A Jolene Marshall - Chief Legal Officer April 4, 2024 37,404 (3) April 4, 2024 - March 28, 2025 N/A (1) The volume of sales is determined, in part, based on pricing triggers outlined in the trading arrangement. (2) The Rule 10b5-1 trading arrangement permits transactions through and including the earlier to occur of (a) the completion of all purchases or sales or (b) the date listed in the table. The arrangement also provides for automatic expiration in the event of liquidation, dissolution, bankruptcy, insolvency, or death, of the adopting person. (3) The Rule 10b5-1 trading arrangement provides for the sale of a percentage of shares to be received upon future vesting of certain outstanding equity awards, net of any shares withheld by us to satisfy applicable taxes. The number of shares to be withheld, and thus the exact number of shares to be sold pursuant to Ms. Marshall’s Rule 10b5-1 trading arrangement, can only be determined upon the occurrence of the future vesting events. For purposes of this disclosure, we have reported the maximum aggregate number of shares to be sold without subtracting any shares to be withheld upon future vesting events.
Name	Jolene Marshall
Title	Chief Legal Officer
Non-Rule 10b5-1 Arrangement Adopted	true
Adoption Date	April 4, 2024
Arrangement Duration	358 days
Aggregate Available	37,404
Stephen Branstetter [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Rule 10b5-1 Plan Elections During the fiscal quarter ended April 30, 2024, our Chief Executive Officer, Mark P. Mader, our Chief Operating Officer, Stephen Branstetter, and our Chief Legal Officer, Jolene Marshall each adopted a “Rule 10b5-1 trading arrangement” as defined in Regulation S-K, Item 408, intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), as amended (the “Rule”). The applicable Rule 10b5-1 trading arrangement included a representation from each of Mr. Mader, Mr. Branstetter, and Ms. Marshall to the broker administering the plan that they were not in possession of any material nonpublic information regarding the Company or the securities subject to the plan. A similar representation was made to the Company in connection with the adoption of the plan, as required under the Company’s insider trading policy. Those representations were made as of the date of adoption of the Rule 10b5-1 trading arrangement, and speak only as of that date. In making those representations, there is no assurance with respect to any material nonpublic information of which Mr. Mader, Mr. Branstetter, or Ms. Marshall were unaware, or with respect to any material nonpublic information acquired by Mr. Mader, Mr. Branstetter, Ms. Marshall or the Company after the date of the representation. Name & Title Date Adopted Aggregate Number of Shares of Class A Common Stock to be Purchased or Sold Pursuant to Trading Arrangement (1) Duration (2) Date Terminated Mark P. Mader - Chief Executive Officer March 28, 2024 137,916 March 28, 2024 - November 3, 2025 N/A Stephen Branstetter - Chief Operating Officer March 28, 2024 15,903 March 28, 2024 - February 14, 2025 N/A Jolene Marshall - Chief Legal Officer April 4, 2024 37,404 (3) April 4, 2024 - March 28, 2025 N/A (1) The volume of sales is determined, in part, based on pricing triggers outlined in the trading arrangement. (2) The Rule 10b5-1 trading arrangement permits transactions through and including the earlier to occur of (a) the completion of all purchases or sales or (b) the date listed in the table. The arrangement also provides for automatic expiration in the event of liquidation, dissolution, bankruptcy, insolvency, or death, of the adopting person. (3) The Rule 10b5-1 trading arrangement provides for the sale of a percentage of shares to be received upon future vesting of certain outstanding equity awards, net of any shares withheld by us to satisfy applicable taxes. The number of shares to be withheld, and thus the exact number of shares to be sold pursuant to Ms. Marshall’s Rule 10b5-1 trading arrangement, can only be determined upon the occurrence of the future vesting events. For purposes of this disclosure, we have reported the maximum aggregate number of shares to be sold without subtracting any shares to be withheld upon future vesting events.
Name	Stephen Branstetter
Title	Chief Operating Officer
Non-Rule 10b5-1 Arrangement Adopted	true
Adoption Date	March 28, 2024
Arrangement Duration	323 days
Aggregate Available	15,903
Mark P. Mader [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Rule 10b5-1 Plan Elections During the fiscal quarter ended April 30, 2024, our Chief Executive Officer, Mark P. Mader, our Chief Operating Officer, Stephen Branstetter, and our Chief Legal Officer, Jolene Marshall each adopted a “Rule 10b5-1 trading arrangement” as defined in Regulation S-K, Item 408, intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), as amended (the “Rule”). The applicable Rule 10b5-1 trading arrangement included a representation from each of Mr. Mader, Mr. Branstetter, and Ms. Marshall to the broker administering the plan that they were not in possession of any material nonpublic information regarding the Company or the securities subject to the plan. A similar representation was made to the Company in connection with the adoption of the plan, as required under the Company’s insider trading policy. Those representations were made as of the date of adoption of the Rule 10b5-1 trading arrangement, and speak only as of that date. In making those representations, there is no assurance with respect to any material nonpublic information of which Mr. Mader, Mr. Branstetter, or Ms. Marshall were unaware, or with respect to any material nonpublic information acquired by Mr. Mader, Mr. Branstetter, Ms. Marshall or the Company after the date of the representation. Name & Title Date Adopted Aggregate Number of Shares of Class A Common Stock to be Purchased or Sold Pursuant to Trading Arrangement (1) Duration (2) Date Terminated Mark P. Mader - Chief Executive Officer March 28, 2024 137,916 March 28, 2024 - November 3, 2025 N/A Stephen Branstetter - Chief Operating Officer March 28, 2024 15,903 March 28, 2024 - February 14, 2025 N/A Jolene Marshall - Chief Legal Officer April 4, 2024 37,404 (3) April 4, 2024 - March 28, 2025 N/A (1) The volume of sales is determined, in part, based on pricing triggers outlined in the trading arrangement. (2) The Rule 10b5-1 trading arrangement permits transactions through and including the earlier to occur of (a) the completion of all purchases or sales or (b) the date listed in the table. The arrangement also provides for automatic expiration in the event of liquidation, dissolution, bankruptcy, insolvency, or death, of the adopting person. (3) The Rule 10b5-1 trading arrangement provides for the sale of a percentage of shares to be received upon future vesting of certain outstanding equity awards, net of any shares withheld by us to satisfy applicable taxes. The number of shares to be withheld, and thus the exact number of shares to be sold pursuant to Ms. Marshall’s Rule 10b5-1 trading arrangement, can only be determined upon the occurrence of the future vesting events. For purposes of this disclosure, we have reported the maximum aggregate number of shares to be sold without subtracting any shares to be withheld upon future vesting events.
Name	Mark P. Mader
Title	Chief Executive Officer
Non-Rule 10b5-1 Arrangement Adopted	true
Adoption Date	March 28, 2024
Arrangement Duration	585 days
Aggregate Available	137,916

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 30, 2024
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated balance sheet as of January 31, 2024 was derived from the audited consolidated financial statements as of that date but does not include all of the information and notes required by GAAP for complete financial statements. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended January 31, 2024, filed with the SEC on March 20, 2024. The condensed consolidated financial statements include the results of Smartsheet Inc. and its wholly owned subsidiaries, including those located in the United States, the United Kingdom, Germany, Australia, Japan, and Costa Rica. All intercompany balances and transactions have been eliminated upon consolidation. In the opinion of management, the information contained herein reflects all adjustments necessary for a fair presentation of our condensed consolidated financial statements. All such adjustments are of a normal, recurring nature. The results of operations for the three months ended April 30, 2024 are not necessarily indicative of results to be expected for the full year ending January 31, 2025, or for any other interim period, or for any future year.
Use of estimates	Use of estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. The Company continuously evaluates its estimates, which are based on historical experience and other current assumptions that its management believes are reasonable under the circumstances. Actual results could differ from those estimates. The Company’s most significant estimates and judgments involve the measurement of fair values of share-based compensation awards; determination of the amortization period for capitalized sales commission costs; and revenue recognition with respect to the allocation of transaction consideration for the Company’s offerings, among others.
Segment information	Segment information The Company operates as one operating segment. The Company’s chief operating decision maker is its Chief Executive Officer, who reviews financial information for purposes of making operating decisions, assessing financial performance, and allocating resources.
Concentrations of risk and significant customers	Concentrations of risk and significant customers Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash, cash equivalents, short-term investments, and accounts receivable. The Company maintains its cash accounts with financial institutions where deposits, at times, exceed the Federal Deposit Insurance Corporation (“FDIC”) limits.
Recent accounting pronouncements and Recent accounting pronouncements not yet adopted	Recent accounting pronouncements There have been no recent accounting pronouncements, changes in accounting pronouncements, or recently adopted accounting guidance during the three months ended April 30, 2024 that have had a material impact on our condensed consolidated financial statements. Recent accounting pronouncements not yet adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The new guidance requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280, on an interim and annual basis. The standard is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact of adopting ASU 2023-07. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact of adopting ASU 2023-09.

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Apr. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents calculations for basic and diluted net loss per share (in thousands, except per share data): Three Months Ended April 30, 2024 2023 Numerator: Net loss $ (8,858) $ (29,870) Denominator: Weighted-average shares outstanding 137,428 132,542 Net loss per share, basic and diluted $ (0.06) $ (0.23)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following outstanding shares of common stock equivalents as of the periods presented were excluded from the computation of diluted net loss per share for the periods presented because the impact of including them would have been anti-dilutive (in thousands): April 30, 2024 2023 Shares subject to outstanding common stock awards 11,774 13,902 Shares issuable pursuant to the 2018 Employee Stock Purchase Plan 370 378 Total potentially dilutive shares 12,144 14,280

Investments (Tables)

Investments (Tables)	3 Months Ended
	Apr. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Unrealized Gains and Losses, and Estimated Fair Values of the Company’s Investments	The following tables present the amortized costs, unrealized gains and losses, and estimated fair values of the Company’s cash equivalents and short-term investments (in thousands): April 30, 2024 Amortized Cost (1) Unrealized Gains Unrealized Losses Estimated Fair Value Cash equivalents: Money market funds $ 108,411 $ — $ — $ 108,411 Total cash equivalents 108,411 — — 108,411 Short-term investments: Corporate bonds 135,560 12 (286) 135,286 U.S. Treasury securities 167,754 3 (432) 167,325 Commercial paper 20,006 — — 20,006 Agency securities 13,401 — (3) 13,398 Total short-term investments 336,721 15 (721) 336,015 Total $ 445,132 $ 15 $ (721) $ 444,426 (1) Excludes interest receivable of $2.1 million, which is included in Prepaid expenses and other current assets on the condensed consolidated balance sheets. January 31, 2024 Amortized Cost (1) Unrealized Gains Unrealized Losses Estimated Fair Value Cash equivalents: Money market funds $ 79,082 $ — $ — $ 79,082 Commercial paper 4,497 — — 4,497 Total cash equivalents 83,579 — — 83,579 Short-term investments: Corporate bonds 99,547 158 (9) 99,696 U.S. Treasury securities 169,825 123 — 169,948 Commercial paper 57,755 — — 57,755 Agency securities 19,282 21 (1) 19,302 Total short-term investments 346,409 302 (10) 346,701 Total $ 429,988 $ 302 $ (10) $ 430,280 (1) Excludes interest receivable of $1.5 million, which is included in Prepaid expenses and other current assets on the condensed consolidated balance sheets.
Schedule of Maturities of the Company’s Short-term Investments	The following table presents the contractual maturities of the Company’s short-term investments (in thousands): April 30, 2024 Amortized Cost Estimated Fair Value Due within one year $ 255,588 $ 255,285 Due between one to five years 81,133 80,730 Total $ 336,721 $ 336,015

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Apr. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables present information about the Company’s financial assets and liabilities that are measured at fair value and indicate the fair value hierarchy of the valuation inputs used (in thousands): April 30, 2024 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 108,411 $ — $ — $ 108,411 Total cash equivalents 108,411 — — 108,411 Short-term investments: Corporate bonds — 135,286 — 135,286 U.S. Treasury securities — 167,325 — 167,325 Commercial paper — 20,006 — 20,006 Agency securities — 13,398 — 13,398 Total short-term investments — 336,015 — 336,015 Total assets $ 108,411 $ 336,015 $ — $ 444,426 January 31, 2024 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 79,082 $ — $ — $ 79,082 Commercial paper — 4,497 — 4,497 Total cash equivalents 79,082 4,497 — 83,579 Short-term investments: Corporate bonds — 99,696 — 99,696 U.S. Treasury securities — 169,948 — 169,948 Commercial paper — 57,755 — 57,755 Agency securities — 19,302 — 19,302 Total short-term investments — 346,701 — 346,701 Total assets $ 79,082 $ 351,198 $ — $ 430,280

Goodwill and Net Intangible A_2

Goodwill and Net Intangible Assets (Tables)	3 Months Ended
	Apr. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The following table presents the components of net intangible assets (in thousands): April 30, 2024 January 31, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Software technology $ 28,491 $ (21,655) $ 6,836 $ 28,491 $ (20,231) $ 8,260 Customer relationships 34,072 (18,112) 15,960 34,072 (16,941) 17,131 Trade names 4,100 (1,712) 2,388 4,100 (1,601) 2,499 Patents 170 (147) 23 170 (144) 26 Domain names 44 — 44 44 — 44 Total $ 66,877 $ (41,626) $ 25,251 $ 66,877 $ (38,917) $ 27,960 The following table presents the components of acquired intangible assets (dollars in thousands): April 30, 2024 January 31, 2024 Net Carrying Amount Weighted- Average Life (Years) Net Carrying Amount Weighted- Average Life (Years) Software technology $ 6,836 2.0 $ 8,260 2.1 Customer relationships 15,960 3.5 17,131 3.7 Trade names 2,388 5.4 2,499 5.6 Total $ 25,184 3.2 $ 27,890 3.4
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	As of April 30, 2024, estimated remaining amortization expense for the finite-lived intangible assets by fiscal year is as follows (in thousands): Remainder of Fiscal 2025 $ 6,925 Fiscal 2026 7,916 Fiscal 2027 5,750 Fiscal 2028 3,454 Fiscal 2029 721 Thereafter 441 Total $ 25,207

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Apr. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	The following table includes a summary of the option activity during the three months ended April 30, 2024: Number of Options Weighted-Average Exercise Price Outstanding at January 31, 2024 3,517,075 $ 24.77 Granted — — Exercised (67,105) 10.30 Forfeited or canceled (37,893) 57.19 Outstanding at April 30, 2024 3,412,077 24.69 Exercisable at April 30, 2024 3,092,340 21.49
Schedule of Restricted Stock Units Award Activity	The following table includes a summary of the RSU activity during the three months ended April 30, 2024: Number of Shares Weighted-Average Grant-Date Fair Value Outstanding at January 31, 2024 8,798,624 $ 45.41 Granted 532,653 41.07 Vested (1,011,111) 46.17 Forfeited or canceled (456,826) 45.03 Outstanding at April 30, 2024 7,863,340 45.04
Schedule of Performance Share Units Activity	The following table includes a summary of the PSU activity during the three months ended April 30, 2024: Number of Shares Weighted-Average Grant-Date Fair Value Outstanding at January 31, 2024 321,463 $ 50.54 Granted 194,624 34.27 Vested — — Forfeited or canceled (17,963) 50.39 Outstanding at April 30, 2024 498,124 44.19
Schedule of Shares Available for Issuance Under ESPP	The following table includes a summary of the activity of shares available for issuance under the 2018 Plan and the ESPP during the three months ended April 30, 2024: 2018 Plan ESPP Balance at January 31, 2024 18,985,254 5,572,546 Authorized 6,844,200 1,368,840 Granted (727,277) — Forfeited or canceled 512,682 — Balance at April 30, 2024 25,614,859 6,941,386
Schedule of Share-based Compensation Expense	Share-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands): Three Months Ended April 30, 2024 2023 Cost of subscription revenue $ 3,052 $ 3,459 Cost of professional services revenue 1,738 1,910 Research and development 18,056 17,432 Sales and marketing 16,595 19,054 General and administrative 10,479 9,924 Total share-based compensation expense $ 49,920 $ 51,779

Leases (Tables)

Leases (Tables)	3 Months Ended
	Apr. 30, 2024
Leases [Abstract]
Schedule of Lease Cost	The components of lease expense recorded in the condensed consolidated statements of operations were as follows (in thousands): Three Months Ended April 30, 2024 2023 Operating lease cost $ 3,307 $ 3,981 Finance lease cost: Amortization of assets 55 — Interest on lease liabilities 16 — Short-term lease cost 114 180 Variable lease cost 711 851 Sublease income (627) (547) Total lease costs $ 3,576 $ 4,465 Other information related to leases was as follows (dollars in thousands): Three Months Ended April 30, 2024 2023 Supplemental cash flow information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 4,411 $ 4,720 Operating cash flows from finance leases 16 — Financing cash flows from finance leases 34 — Weighted-average remaining lease term (in years) Operating leases 3.7 4.3 Finance leases 2.4 0.0 Weighted-average discount rate Operating leases 5.5 % 5.2 % Finance leases 9.9 % — %
Schedule of Future Minimum Rental Payments for Operating Leases	As of April 30, 2024, remaining maturities of lease liabilities were as follows (in thousands): Operating Leases Finance Leases Remainder of Fiscal 2025 $ 12,108 $ 203 Fiscal 2026 14,707 270 Fiscal 2027 10,759 226 Fiscal 2028 6,328 — Fiscal 2029 5,292 — Thereafter 1,357 — Total lease payments 50,551 699 Less: imputed interest (5,148) (62) Total $ 45,403 $ 637
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity	As of April 30, 2024, the future total minimum sublease payments to be received were as follows (in thousands): Sublease Receipts Remainder of Fiscal 2025 $ 2,058 Fiscal 2026 2,154 Fiscal 2027 700 Fiscal 2028 — Fiscal 2029 — Thereafter — Total $ 4,912
Schedule of Future Minimum Rental Payment for Finance Leases	As of April 30, 2024, remaining maturities of lease liabilities were as follows (in thousands): Operating Leases Finance Leases Remainder of Fiscal 2025 $ 12,108 $ 203 Fiscal 2026 14,707 270 Fiscal 2027 10,759 226 Fiscal 2028 6,328 — Fiscal 2029 5,292 — Thereafter 1,357 — Total lease payments 50,551 699 Less: imputed interest (5,148) (62) Total $ 45,403 $ 637

Geographic Information (Tables)

Geographic Information (Tables)	3 Months Ended
	Apr. 30, 2024
Segment Reporting [Abstract]
Schedule of Revenue by Geographical Area	Revenue by geographic location is determined by the location of the Company’s customers. The following table sets forth revenue by geographic area (in thousands): Three Months Ended April 30, 2024 2023 United States $ 222,827 $ 185,595 EMEA 21,206 17,724 APJ 9,004 8,207 Americas other than the United States 9,947 8,360 Total $ 262,984 $ 219,886
Schedule of Long-lived Assets by Geographic Areas	Long-lived assets by geographic location is based on the location of the legal entity that owns the asset. The following table sets forth long-lived assets by geographic area (in thousands): April 30, 2024 January 31, 2024 United States $ 42,579 $ 45,743 EMEA 2,197 2,266 APJ 3,577 3,793 Americas other than the United States 536 573 Total $ 48,889 $ 52,375

Supplemental Condensed Consol_2

Supplemental Condensed Consolidated Financial Statement Information (Tables)	3 Months Ended
	Apr. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following (in thousands): April 30, 2024 January 31, 2024 Prepaid expenses 78,701 $ 57,685 Other current assets 4,722 6,681 Total prepaid expenses and other current assets $ 83,423 $ 64,366
Schedule of Cash and Cash Equivalents	Cash as reported on the condensed consolidated statements of cash flows consisted of the following (in thousands): April 30, 2024 2023 Cash and cash equivalents $ 333,502 $ 294,946 Restricted cash included in prepaid expenses and other current assets 279 420 Restricted cash 18 189 Total cash, cash equivalents, and restricted cash $ 333,799 $ 295,555
Schedule of Restricted Cash and Cash Equivalents	Cash as reported on the condensed consolidated statements of cash flows consisted of the following (in thousands): April 30, 2024 2023 Cash and cash equivalents $ 333,502 $ 294,946 Restricted cash included in prepaid expenses and other current assets 279 420 Restricted cash 18 189 Total cash, cash equivalents, and restricted cash $ 333,799 $ 295,555

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details)	3 Months Ended
	Apr. 30, 2024 segment
Accounting Policies [Abstract]
Number of operating segments	1

Revenue from Contracts with C_2

Revenue from Contracts with Customers - Deferred Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Revenue from External Customer [Line Items]
Deferred revenue	$ 749.6
Subscription
Revenue from External Customer [Line Items]
Revenue recognized included in deferred revenue	222.2	$ 178.4
Deferred revenue	741.2
Professional services
Revenue from External Customer [Line Items]
Revenue recognized included in deferred revenue	5.4	$ 5.7
Deferred revenue	$ 8.4

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Revenue Recognition (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-05-01	Apr. 30, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of revenue related to remaining performance obligations	82%
Period of expected timing of satisfaction related to remaining performance obligations	12 months

Deferred Commissions (Details)

Deferred Commissions (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Jan. 31, 2024
Revenue from Contract with Customer [Abstract]
Deferred commissions	$ 152,833		$ 148,867
Amortization of deferred commission costs	$ 15,700	$ 11,400
Deferred commissions amortized period	4 years

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Numerator:
Net loss	$ (8,858)	$ (29,870)
Denominator:
Weighted-average shares outstanding, basic (in shares)	137,428	132,542
Weighted-average shares outstanding, diluted (in shares)	137,428	132,542
Net loss per share, basic (in dollars per share)	$ (0.06)	$ (0.23)
Net loss per share, diluted (in dollars per share)	$ (0.06)	$ (0.23)

Net Loss Per Share - Schedule_2

Net Loss Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares	12,144	14,280
Shares subject to outstanding common stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares	11,774	13,902
Shares issuable pursuant to the 2018 Employee Stock Purchase Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares	370	378

Investments - Schedule of Unrea

Investments - Schedule of Unrealized Gains and Losses, and Estimated Fair Values of the Company’s Investments (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Debt and Equity Securities, FV-NI [Line Items]
Total	$ 445,132	$ 429,988
Unrealized Gains	15	302
Unrealized Losses	(721)	(10)
Estimated Fair Value	444,426	430,280
Interest receivable	2,100	1,500
Money market funds | Cash equivalents:
Debt and Equity Securities, FV-NI [Line Items]
Total	108,411	79,082
Unrealized Gains	0	0
Unrealized Losses	0	0
Estimated Fair Value	108,411	79,082
Total cash equivalents | Cash equivalents:
Debt and Equity Securities, FV-NI [Line Items]
Total	108,411	83,579
Unrealized Gains	0	0
Unrealized Losses	0	0
Estimated Fair Value	108,411	83,579
Corporate bonds | Short-term investments:
Debt and Equity Securities, FV-NI [Line Items]
Total	135,560	99,547
Unrealized Gains	12	158
Unrealized Losses	(286)	(9)
Estimated Fair Value	135,286	99,696
U.S. Treasury securities | Short-term investments:
Debt and Equity Securities, FV-NI [Line Items]
Total	167,754	169,825
Unrealized Gains	3	123
Unrealized Losses	(432)	0
Estimated Fair Value	167,325	169,948
Commercial paper | Cash equivalents:
Debt and Equity Securities, FV-NI [Line Items]
Total		4,497
Unrealized Gains		0
Unrealized Losses		0
Estimated Fair Value		4,497
Commercial paper | Short-term investments:
Debt and Equity Securities, FV-NI [Line Items]
Total	20,006	57,755
Unrealized Gains	0	0
Unrealized Losses	0	0
Estimated Fair Value	20,006	57,755
Agency securities | Short-term investments:
Debt and Equity Securities, FV-NI [Line Items]
Total	13,401	19,282
Unrealized Gains	0	21
Unrealized Losses	(3)	(1)
Estimated Fair Value	13,398	19,302
Short-term investments:
Debt and Equity Securities, FV-NI [Line Items]
Total	336,721
Estimated Fair Value	336,015
Short-term investments: | Short-term investments:
Debt and Equity Securities, FV-NI [Line Items]
Total	336,721	346,409
Unrealized Gains	15	302
Unrealized Losses	(721)	(10)
Estimated Fair Value	$ 336,015	$ 346,701

Investments - Schedule of Matur

Investments - Schedule of Maturities of the Company’s Short-term Investments (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Amortized Cost
Total	$ 445,132	$ 429,988
Estimated Fair Value
Total	444,426	$ 430,280
Total short-term investments
Amortized Cost
Due within one year	255,588
Due between one to five years	81,133
Total	336,721
Estimated Fair Value
Due within one year	255,285
Due between one to five years	80,730
Total	$ 336,015

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Cash equivalents:
Cash equivalents:	$ 108,411	$ 83,579
Short-term investments:	336,015	346,701
Total assets	444,426	430,280
Corporate bonds
Cash equivalents:
Short-term investments:	135,286	99,696
U.S. Treasury securities
Cash equivalents:
Short-term investments:	167,325	169,948
Commercial paper
Cash equivalents:
Short-term investments:	20,006	57,755
Agency securities
Cash equivalents:
Short-term investments:	13,398	19,302
Money market funds
Cash equivalents:
Cash equivalents:	108,411	79,082
Commercial paper
Cash equivalents:
Cash equivalents:		4,497
Level 1
Cash equivalents:
Cash equivalents:	108,411	79,082
Short-term investments:	0	0
Total assets	108,411	79,082
Level 1 | Corporate bonds
Cash equivalents:
Short-term investments:	0	0
Level 1 | U.S. Treasury securities
Cash equivalents:
Short-term investments:	0	0
Level 1 | Commercial paper
Cash equivalents:
Short-term investments:	0	0
Level 1 | Agency securities
Cash equivalents:
Short-term investments:	0	0
Level 1 | Money market funds
Cash equivalents:
Cash equivalents:	108,411	79,082
Level 1 | Commercial paper
Cash equivalents:
Cash equivalents:		0
Level 2
Cash equivalents:
Cash equivalents:	0	4,497
Short-term investments:	336,015	346,701
Total assets	336,015	351,198
Level 2 | Corporate bonds
Cash equivalents:
Short-term investments:	135,286	99,696
Level 2 | U.S. Treasury securities
Cash equivalents:
Short-term investments:	167,325	169,948
Level 2 | Commercial paper
Cash equivalents:
Short-term investments:	20,006	57,755
Level 2 | Agency securities
Cash equivalents:
Short-term investments:	13,398	19,302
Level 2 | Money market funds
Cash equivalents:
Cash equivalents:	0	0
Level 2 | Commercial paper
Cash equivalents:
Cash equivalents:		4,497
Level 3
Cash equivalents:
Cash equivalents:	0	0
Short-term investments:	0	0
Total assets	0	0
Level 3 | Corporate bonds
Cash equivalents:
Short-term investments:	0	0
Level 3 | U.S. Treasury securities
Cash equivalents:
Short-term investments:	0	0
Level 3 | Commercial paper
Cash equivalents:
Short-term investments:	0	0
Level 3 | Agency securities
Cash equivalents:
Short-term investments:	0	0
Level 3 | Money market funds
Cash equivalents:
Cash equivalents:	$ 0	0
Level 3 | Commercial paper
Cash equivalents:
Cash equivalents:		$ 0

Goodwill and Net Intangible A_3

Goodwill and Net Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 30, 2024	Jan. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 66,877	$ 66,877
Accumulated Amortization	(41,626)	(38,917)
Net Carrying Amount	25,251	27,960
Net Carrying Amount	$ 25,184	$ 27,890
Weighted- Average Life (Years)	3 years 2 months 12 days	3 years 4 months 24 days
Software technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 28,491	$ 28,491
Accumulated Amortization	(21,655)	(20,231)
Net Carrying Amount	6,836	8,260
Net Carrying Amount	$ 6,836	$ 8,260
Weighted- Average Life (Years)	2 years	2 years 1 month 6 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 34,072	$ 34,072
Accumulated Amortization	(18,112)	(16,941)
Net Carrying Amount	15,960	17,131
Net Carrying Amount	$ 15,960	$ 17,131
Weighted- Average Life (Years)	3 years 6 months	3 years 8 months 12 days
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,100	$ 4,100
Accumulated Amortization	(1,712)	(1,601)
Net Carrying Amount	2,388	2,499
Net Carrying Amount	$ 2,388	$ 2,499
Weighted- Average Life (Years)	5 years 4 months 24 days	5 years 7 months 6 days
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 170	$ 170
Accumulated Amortization	(147)	(144)
Net Carrying Amount	23	26
Domain names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	44	44
Accumulated Amortization	0	0
Net Carrying Amount	$ 44	$ 44

Goodwill and Net Intangible A_4

Goodwill and Net Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 2.7	$ 2.7

Goodwill and Net Intangible A_5

Goodwill and Net Intangible Assets - Estimated Remaining Amortization Expense (Details) $ in Thousands	Apr. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of Fiscal 2025	$ 6,925
Fiscal 2026	7,916
Fiscal 2027	5,750
Fiscal 2028	3,454
Fiscal 2029	721
Thereafter	441
Total	$ 25,207

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Jan. 31, 2024	Jan. 31, 2023
Share-based compensation
Accrued compensation and related benefits	$ 59,288		$ 77,453
Capitalized software development costs	1,200	$ 900
Unrecognized share based compensation expense	$ 338,000
Unrecognized share based compensation expense, period for recognition	2 years
Number of shares authorized for repurchase (in shares)	$ 150,000
2018 ESPP
Share-based compensation
Granted (in shares)	0
Allowable payroll deduction as a percent of base cash compensation	15%
Offering period (in months)	6 months
Purchase price percent	85%
Maximum number of shares authorized (in shares)	6,941,386		5,572,546
Accrued compensation and related benefits	$ 8,100
2018 ESPP | Common Class A
Share-based compensation
Period in which shares authorized increase	10 years
2018 ESPP | Common Class A and B
Share-based compensation
Percent of shares outstanding	1%
Maximum | 2018 ESPP | Common Class A
Share-based compensation
Maximum number of shares authorized (in shares)	20,400,000
Stock Option
Share-based compensation
Expiration period	10 years
Stock Option | Minimum
Share-based compensation
Vesting period	3 years
Stock Option | Maximum
Share-based compensation
Vesting period	4 years
RSUs
Share-based compensation
Granted (in shares)	532,653
RSUs | Minimum
Share-based compensation
Vesting period	3 years
RSUs | Maximum
Share-based compensation
Vesting period	4 years
Performance Shares
Share-based compensation
Vesting period	3 years		2 years
Granted (in shares)	194,624		195,948
Performance Shares | Share-Based Payment Arrangement, Tranche One
Share-based compensation
Vesting period				1 year
Performance Shares | Share-Based Payment Arrangement, Tranche Two
Share-based compensation
Vesting period				2 years
Performance Shares | Minimum
Share-based compensation
Percentage of target number of shares	0%
Performance Shares | Maximum
Share-based compensation
Percentage of target number of shares	200%

Shareholders' Equity - Stock Op

Shareholders' Equity - Stock Options (Details) - Stock Option	3 Months Ended
	Apr. 30, 2024 $ / shares shares
Number of Options
Outstanding beginning balance (in shares) | shares	3,517,075
Granted (in shares) | shares	0
Exercised (in shares) | shares	(67,105)
Forfeited or canceled (in shares) | shares	(37,893)
Outstanding ending balance (in shares) | shares	3,412,077
Exercisable (in shares) | shares	3,092,340
Weighted-Average Exercise Price
Outstanding beginning balance (in dollars per share) | $ / shares	$ 24.77
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	10.30
Forfeited or canceled (in dollars per share) | $ / shares	57.19
Outstanding ending balance (in dollars per share) | $ / shares	24.69
Exercisable (in dollars per share) | $ / shares	$ 21.49

Shareholders' Equity - Restrict

Shareholders' Equity - Restricted Stock Units (Details) - RSUs	3 Months Ended
	Apr. 30, 2024 $ / shares shares
Number of Shares
Outstanding beginning balance (in shares) | shares	8,798,624
Granted (in shares) | shares	532,653
Vested (in shares) | shares	(1,011,111)
Forfeited or canceled (in shares) | shares	(456,826)
Outstanding ending balance (in shares) | shares	7,863,340
Weighted-Average Grant-Date Fair Value
Outstanding beginning balance (in dollars per share) | $ / shares	$ 45.41
Granted (in dollars per share) | $ / shares	41.07
Vested (in dollars per share) | $ / shares	46.17
Forfeited or canceled (in dollars per share) | $ / shares	45.03
Outstanding ending balance (in dollars per share) | $ / shares	$ 45.04

Shareholders' Equity - Performa

Shareholders' Equity - Performance Share Unit Activity (Details) - Performance Shares - $ / shares	3 Months Ended	12 Months Ended
	Apr. 30, 2024	Jan. 31, 2024
Number of Shares
Outstanding beginning balance (in shares)	321,463
Granted (in shares)	194,624	195,948
Vested (in shares)	0
Forfeited or canceled (in shares)	(17,963)
Outstanding ending balance (in shares)	498,124	321,463
Weighted-Average Grant-Date Fair Value
Outstanding beginning balance (in dollars per share)	$ 50.54
Granted (in dollars per share)	34.27
Vested (in dollars per share)	0
Forfeited or canceled (in dollars per share)	50.39
Outstanding ending balance (in dollars per share)	$ 44.19	$ 50.54

Shareholders' Equity - 2018 Pla

Shareholders' Equity - 2018 Plan and 2018 Employee Stock Purchase Plan (Details)	3 Months Ended
	Apr. 30, 2024 shares
2018 Plan
Share-based compensation
Balance at beginning of period (in shares)	18,985,254
Authorized (in shares)	6,844,200
Granted (in shares)	(727,277)
Forfeited or canceled (in shares)	512,682
Balance at end of period (in shares)	25,614,859
ESPP
Share-based compensation
Balance at beginning of period (in shares)	5,572,546
Authorized (in shares)	1,368,840
Granted (in shares)	0
Forfeited or canceled (in shares)	0
Balance at end of period (in shares)	6,941,386

Shareholders' Equity - Share-Ba

Shareholders' Equity - Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 49,920	$ 51,779
Cost of subscription revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	3,052	3,459
Cost of professional services revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	1,738	1,910
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	18,056	17,432
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	16,595	19,054
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 10,479	$ 9,924

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Income Tax Disclosure [Abstract]
Income tax provision	$ 5,178	$ 2,436

Leases - Narrative (Details)

Leases - Narrative (Details)	3 Months Ended
	Apr. 30, 2024
Lessee, Lease, Description [Line Items]
Option to extend lease	5 years
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	5 years

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Leases [Abstract]
Operating lease cost	$ 3,307	$ 3,981
Finance lease cost:
Amortization of assets	55	0
Interest on lease liabilities	16	0
Short-term lease cost	114	180
Variable lease cost	711	851
Sublease income	(627)	(547)
Total lease costs	$ 3,576	$ 4,465

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 4,411	$ 4,720
Operating cash flows from finance leases	16	0
Financing cash flows from finance leases	$ 34	$ 0
Weighted-average remaining lease term (in years)
Operating leases	3 years 8 months 12 days	4 years 3 months 18 days
Finance leases	2 years 4 months 24 days	0 years
Weighted-average discount rate
Operating leases	5.50%	5.20%
Finance leases	9.90%	0%

Leases - Schedule of Remaining

Leases - Schedule of Remaining Maturities and Future Minimum Sublease Payments (Details) $ in Thousands	Apr. 30, 2024 USD ($)
Operating Leases
Remainder of Fiscal 2025	$ 12,108
Fiscal 2026	14,707
Fiscal 2027	10,759
Fiscal 2028	6,328
Fiscal 2029	5,292
Thereafter	1,357
Total lease payments	50,551
Less: imputed interest	(5,148)
Total	45,403
Finance Leases
Remainder of Fiscal 2025	203
Fiscal 2026	270
Fiscal 2027	226
Fiscal 2028	0
Fiscal 2029	0
Thereafter	0
Total lease payments	699
Less: imputed interest	(62)
Total	637
Sublease Receipts
Remainder of Fiscal 2025	2,058
Fiscal 2026	2,154
Fiscal 2027	700
Fiscal 2028	0
Fiscal 2029	0
Thereafter	0
Total	$ 4,912

Geographic Information - Schedu

Geographic Information - Schedule of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 262,984	$ 219,886
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	222,827	185,595
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	21,206	17,724
APJ
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	9,004	8,207
Americas other than the United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 9,947	$ 8,360

Geographic Information - Long-l

Geographic Information - Long-lived Assets (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 48,889	$ 52,375
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	42,579	45,743
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	2,197	2,266
APJ
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	3,577	3,793
Americas other than the United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 536	$ 573

Supplemental Condensed Consol_3

Supplemental Condensed Consolidated Financial Statement Information - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 78,701	$ 57,685
Other current assets	4,722	6,681
Prepaid expenses and other current assets	$ 83,423	$ 64,366

Supplemental Condensed Consol_4

Supplemental Condensed Consolidated Financial Statement Information - Narrative (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024	Apr. 30, 2023
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 279		$ 420
Letter of Credit Collateral
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 300	$ 300

Supplemental Condensed Consol_5

Supplemental Condensed Consolidated Financial Statement Information - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Apr. 30, 2024	Jan. 31, 2024	Apr. 30, 2023	Jan. 31, 2023
Accounting Policies [Abstract]
Cash and cash equivalents	$ 333,502	$ 282,094	$ 294,946
Restricted cash included in prepaid expenses and other current assets	279		420
Restricted cash	18	19	189
Total cash, cash equivalents, and restricted cash	$ 333,799	$ 282,442	$ 295,555	$ 223,757