Cover
Cover - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 31, 2021 | Feb. 28, 2021 | Jul. 31, 2020 | |
Class of Stock [Line Items] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Jan. 31, 2021 | ||
Current Fiscal Year End Date | --01-31 | ||
Document Transition Report | false | ||
Entity File Number | 001-38933 | ||
Entity Registrant Name | CROWDSTRIKE HOLDINGS, INC. | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 45-3788918 | ||
Entity Address, Address Line One | 150 Mathilda Place | ||
Entity Address, Address Line Two | Suite 300 | ||
Entity Address, City or Town | Sunnyvale | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 94086 | ||
City Area Code | 888 | ||
Local Phone Number | 512-8906 | ||
Title of 12(b) Security | Class A common stock, par value $0.0005 per share | ||
Trading Symbol | CRWD | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
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 | ||
ICFR Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
Entity Public Float | $ 20,800 | ||
Documents Incorporated by Reference | Portions of the registrant’s definitive Proxy Statement relating to its 2021 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K where indicated. Such Proxy Statement will be filed with the United States Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Annual Report on Form 10-K relates. | ||
Entity Central Index Key | 0001535527 | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Class A Common Stock | |||
Class of Stock [Line Items] | |||
Entity Common Stock, Shares Outstanding | 195,247,309 | ||
Class B Common Stock | |||
Class of Stock [Line Items] | |||
Entity Common Stock, Shares Outstanding | 28,628,920 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 1,918,608 | $ 264,798 |
Marketable securities | 0 | 647,266 |
Accounts receivable, net of allowance for doubtful accounts of $1.2 million and $1.1 million as of January 31, 2021 and January 31, 2020, respectively | 239,199 | 164,987 |
Deferred contract acquisition costs, current | 80,850 | 42,971 |
Prepaid expenses and other current assets | 53,617 | 51,614 |
Total current assets | 2,292,274 | 1,171,636 |
Total initial cost | 2,500 | 1,000 |
Property and equipment, net | 167,014 | 136,078 |
Operating lease right-of-use assets | 36,484 | 0 |
Deferred contract acquisition costs, noncurrent | 117,906 | 71,235 |
Goodwill | 83,566 | 7,722 |
Intangible assets, net | 15,677 | 527 |
Other long-term assets | 17,112 | 16,708 |
Total assets | 2,732,533 | 1,404,906 |
Current liabilities: | ||
Accounts payable | 12,065 | 1,345 |
Accrued expenses | 51,117 | 30,355 |
Accrued payroll and benefits | 71,907 | 36,810 |
Operating lease liabilities, current | 8,977 | 0 |
Deferred revenue | 701,988 | 412,985 |
Other current liabilities | 17,499 | 11,601 |
Total current liabilities | 863,553 | 493,096 |
Long-term debt | 738,029 | 0 |
Deferred revenue, noncurrent | 209,907 | 158,183 |
Operating lease liabilities, noncurrent | 31,986 | 0 |
Other liabilities, noncurrent | 17,184 | 11,020 |
Total liabilities | 1,860,659 | 662,299 |
Commitments and contingencies (Note 12) | ||
Stockholders’ Equity | ||
Preferred stock, $0.0005 par value; 100,000 shares authorized as of January 31, 2021 and January 31, 2020; no shares issued and outstanding as of January 31, 2021 and January 31, 2020 | 0 | 0 |
Additional paid-in capital | 1,598,259 | 1,378,479 |
Accumulated deficit | (730,116) | (637,487) |
Accumulated other comprehensive income | 2,319 | 1,009 |
Total CrowdStrike Holdings, Inc. stockholders’ equity | 870,574 | 742,107 |
Non-controlling interest | 1,300 | 500 |
Total stockholders’ equity | 871,874 | 742,607 |
Total liabilities and stockholders’ equity | 2,732,533 | 1,404,906 |
Common Class And B | ||
Stockholders’ Equity | ||
Class A common stock, $0.0005 par value; 2,000,000 shares authorized as of January 31, 2021 and January 31, 2020; 195,039 shares, and 107,666 shares issued and outstanding as of January 31, 2021 and January 31, 2020, respectively; Class B common stock, $0.0005 par value; 300,000 shares authorized as of January 31, 2021 and January 31, 2020; 28,685 shares, and 105,282 shares issued and outstanding as of January 31, 2021 and January 31, 2020, respectively | $ 112 | $ 106 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Jan. 31, 2021 | Jan. 31, 2020 |
Accounts receivable allowance for doubtful accounts | $ 1.2 | $ 1.1 |
Preferred stock par value (in usd per share) | $ 0.0005 | $ 0.0005 |
Preferred stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Class A Common Stock | ||
Common stock par value (in usd per share) | $ 0.0005 | $ 0.0005 |
Common stock shares authorized (in shares) | 2,000,000,000 | 2,000,000,000 |
Common stock, shares issued (in shares) | 195,039,000 | 107,666,000 |
Common stock, shares outstanding (in shares) | 195,039,000 | 107,666,000 |
Class B Common Stock | ||
Common stock par value (in usd per share) | $ 0.0005 | $ 0.0005 |
Common stock shares authorized (in shares) | 300,000,000 | 300,000,000 |
Common stock, shares issued (in shares) | 28,685,000 | 105,282,000 |
Common stock, shares outstanding (in shares) | 28,685,000 | 105,282,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Revenue | |||
Total revenue | $ 874,438 | $ 481,413 | $ 249,824 |
Cost of revenue | |||
Total cost of revenue | 229,545 | 141,627 | 87,238 |
Gross profit | 644,893 | 339,786 | 162,586 |
Operating expenses | |||
Sales and marketing | 401,316 | 266,595 | 172,682 |
Research and development | 214,670 | 130,188 | 84,551 |
General and administrative | 121,436 | 89,068 | 42,217 |
Total operating expenses | 737,422 | 485,851 | 299,450 |
Loss from operations | (92,529) | (146,065) | (136,864) |
Interest expense | (1,559) | (442) | (428) |
Other income (expense), net | 6,219 | 6,725 | (1,418) |
Loss before provision for income taxes | (87,869) | (139,782) | (138,710) |
Provision for income taxes | 4,760 | 1,997 | 1,367 |
Net loss attributable to Class A and Class B common stockholders | $ (92,629) | $ (141,779) | $ (140,077) |
Net loss per share attributable to Crowdstrike Class A and Class B common stockholders, basic and diluted (in usd per share) | $ (0.43) | $ (0.96) | $ (3.12) |
Weighted average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted (in shares) | 217,756 | 148,062 | 44,863 |
Subscription | |||
Revenue | |||
Total revenue | $ 804,670 | $ 436,323 | $ 219,401 |
Cost of revenue | |||
Total cost of revenue | 185,212 | 112,474 | 69,208 |
Professional services | |||
Revenue | |||
Total revenue | 69,768 | 45,090 | 30,423 |
Cost of revenue | |||
Total cost of revenue | $ 44,333 | $ 29,153 | $ 18,030 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | |||
Net loss | $ (92,629) | $ (141,779) | $ (140,077) |
Foreign currency translation adjustments | 2,630 | (410) | (878) |
Reversal of unrealized gain upon sale of debt securities, net of tax | (1,320) | 0 | 0 |
Unrealized net gain on available-for-sale-securities, net of tax | 0 | 1,321 | 6 |
Other comprehensive income (loss) | 1,310 | 911 | (872) |
Total comprehensive loss | $ (91,319) | $ (140,868) | $ (140,949) |
Consolidated Statements of Rede
Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Cumulative Effect, Period of Adoption, Adjustment | Common Stock | Additional Paid-in Capital | Additional Paid-in CapitalCumulative Effect, Period of Adoption, Adjustment | Accumulated Deficit | Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment | Accumulated Other Comprehensive Income (Loss) | Non-controlling Interest | Redeemable Convertible Preferred Stock |
Temporary equity, beginning balance (in shares) at Jan. 31, 2018 | 118,693 | |||||||||
Temporary equity, carrying amount, beginning balance at Jan. 31, 2018 | $ 351,016 | |||||||||
Increase (Decrease) in Temporary Equity [Roll Forward] | ||||||||||
Issuance of redeemable convertible preferred stock (in shares) | 12,575 | |||||||||
Issuance of redeemable convertible preferred stock | $ 206,896 | |||||||||
Temporary equity, ending balance (in shares) at Jan. 31, 2019 | 131,268 | |||||||||
Temporary equity, carrying amount, ending balance at Jan. 31, 2019 | $ 557,912 | |||||||||
Shares outstanding, beginning balance (in shares) at Jan. 31, 2018 | 44,231 | |||||||||
Stockholder's equity, including portion attributable to noncontrolling interest, beginning balance at Jan. 31, 2018 | $ (369,474) | $ 0 | $ 22 | $ 8,482 | $ 101 | $ (378,948) | $ (101) | $ 970 | $ 0 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Issuance of common stock upon exercise of options (in shares) | 3,046 | |||||||||
Issuance of common stock upon exercise of options | 3,912 | $ 2 | 3,910 | |||||||
Stock issues related to early exercised options (in shares) | 38 | |||||||||
Issuance of common stock (in shares) | 106 | |||||||||
Vesting of early exercised options | 543 | 543 | ||||||||
Stock-based compensation expense | 20,505 | 20,505 | ||||||||
Repurchase of stock options | (2,330) | (2,330) | ||||||||
Net loss | (140,077) | (140,077) | ||||||||
Unrealized net gain on available-for-sale-securities, net of tax | 6 | |||||||||
Foreign currency translation adjustments | (878) | |||||||||
Other comprehensive loss | (872) | (872) | ||||||||
Shares outstanding, ending balance (in shares) at Jan. 31, 2019 | 47,421 | |||||||||
Stockholder's equity, including portion attributable to noncontrolling interest, ending balance at Jan. 31, 2019 | (487,793) | $ 23,418 | $ 24 | 31,211 | $ 0 | (519,126) | $ 23,418 | 98 | 0 | |
Increase (Decrease) in Temporary Equity [Roll Forward] | ||||||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares) | (131,268) | |||||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering | $ (557,912) | |||||||||
Temporary equity, ending balance (in shares) at Jan. 31, 2020 | 0 | |||||||||
Temporary equity, carrying amount, ending balance at Jan. 31, 2020 | $ 0 | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Issuance of common stock upon exercise of options (in shares) | 10,645 | |||||||||
Issuance of common stock upon exercise of options | 21,512 | $ 5 | 21,507 | |||||||
Stock issues related to early exercised options (in shares) | 1,037 | |||||||||
Issuance of common stock (in shares) | 20,700 | |||||||||
Issuance of common stock upon initial public offering, net of underwriting discounts and issuance costs | 659,218 | $ 11 | 659,207 | |||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares) | 131,268 | |||||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering | 557,912 | $ 66 | 557,846 | |||||||
Reclassification of redeemable convertible preferred stock warrant liability to additional paid-in capital upon initial public offering | 10,559 | 10,559 | ||||||||
Net exercise of common stock warrants (in shares) | 322 | |||||||||
Issuance of common stock under RSU release (in shares) | 1,127 | |||||||||
Issuance of common stock under employee stock purchase plan (in shares) | 428 | |||||||||
Issuance of common stock under employee stock purchase plan | 12,365 | 12,365 | ||||||||
Vesting of early exercised options | 2,704 | 2,704 | ||||||||
Stock-based compensation expense | 79,940 | 79,940 | ||||||||
Capitalized stock-based compensation | 857 | 857 | ||||||||
Settlement related to stockholders short-swing trade profit | 2,283 | 2,283 | ||||||||
Net loss | (141,779) | (141,779) | ||||||||
Non-controlling interest | 500 | 500 | ||||||||
Unrealized net gain on available-for-sale-securities, net of tax | 1,321 | 1,321 | ||||||||
Foreign currency translation adjustments | (410) | (410) | ||||||||
Other comprehensive loss | 911 | |||||||||
Shares outstanding, ending balance (in shares) at Jan. 31, 2020 | 212,948 | |||||||||
Stockholder's equity, including portion attributable to noncontrolling interest, ending balance at Jan. 31, 2020 | 742,607 | $ 106 | 1,378,479 | (637,487) | 1,009 | 500 | ||||
Temporary equity, ending balance (in shares) at Jan. 31, 2021 | 0 | |||||||||
Temporary equity, carrying amount, ending balance at Jan. 31, 2021 | $ 0 | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Issuance of common stock upon exercise of options (in shares) | 7,752 | |||||||||
Issuance of common stock upon exercise of options | 28,831 | $ 6 | 28,825 | |||||||
Issuance of common stock under RSU release (in shares) | 1,994 | |||||||||
Issuance of common stock under employee stock purchase plan (in shares) | 1,030 | |||||||||
Issuance of common stock under employee stock purchase plan | 34,263 | 34,263 | ||||||||
Vesting of early exercised options | 3,318 | 3,318 | ||||||||
Stock-based compensation expense | 149,375 | 149,375 | ||||||||
Capitalized stock-based compensation | 3,686 | 3,686 | ||||||||
Fair value of replacement equity awards attributable to pre-acquisition service | 313 | 313 | ||||||||
Net loss | (92,629) | (92,629) | ||||||||
Non-controlling interest | 800 | 800 | ||||||||
Unrealized net gain on available-for-sale-securities, net of tax | 0 | |||||||||
Foreign currency translation adjustments | 2,630 | |||||||||
Other comprehensive loss | 1,310 | 1,310 | ||||||||
Shares outstanding, ending balance (in shares) at Jan. 31, 2021 | 223,724 | |||||||||
Stockholder's equity, including portion attributable to noncontrolling interest, ending balance at Jan. 31, 2021 | $ 871,874 | $ 112 | $ 1,598,259 | $ (730,116) | $ 2,319 | $ 1,300 |
Consolidated Statements of Re_2
Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Parenthetical) $ in Thousands | 12 Months Ended |
Jan. 31, 2019USD ($) | |
Accounting Standards Update [Extensible List] | us-gaap:AccountingStandardsUpdate201409Member |
Redeemable Convertible Preferred Stock | |
Stock issuance costs | $ 104 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Operating activities | |||
Net loss | $ (92,629) | $ (141,779) | $ (140,077) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
Depreciation and amortization | 38,695 | 23,026 | 14,815 |
Loss on disposal of fixed assets | 15 | 0 | 191 |
Amortization of intangible assets | 1,448 | 487 | 583 |
Amortization of deferred contract acquisition costs | 66,425 | 35,459 | 28,642 |
Non-cash operating lease cost | 7,786 | 0 | 0 |
Change in fair value of redeemable convertible preferred stock warrant liability | 0 | 6,022 | 3,576 |
Provision for bad debts | (544) | 556 | 551 |
Stock-based compensation expense | 149,675 | 79,940 | 20,505 |
Gain on debt and equity securities, net | (1,347) | 0 | 0 |
Accretion (amortization) of marketable securities purchased at a premium (discount) | 578 | (1,247) | (1,152) |
Non-cash interest expense | 853 | 435 | 98 |
Other non-cash charges | 0 | (427) | 0 |
Changes in operating assets and liabilities | |||
Accounts receivable | (72,478) | (73,067) | (33,413) |
Deferred contract acquisition costs | (150,975) | (86,594) | (45,073) |
Prepaid expenses and other assets | 1,203 | (43,467) | (5,819) |
Accounts payable | 11,325 | (6,570) | (2,403) |
Accrued expenses and other current liabilities | 23,838 | 9,173 | 3,564 |
Accrued payroll and benefits | 33,212 | 17,526 | 971 |
Operating lease liabilities | (8,105) | 0 | 0 |
Deferred revenue | 338,803 | 280,768 | 131,117 |
Other liabilities | 8,788 | (298) | 356 |
Net cash provided by (used in) operating activities | 356,566 | 99,943 | (22,968) |
Investing activities | |||
Purchases of property and equipment | (52,799) | (80,198) | (35,851) |
Capitalized internal-use software | (10,864) | (7,289) | (6,794) |
Purchase of strategic investments | (1,500) | (1,000) | 0 |
Business acquisition, net of cash acquired | (85,517) | 0 | 0 |
Purchase of intangible assets | (180) | 0 | 0 |
Purchases of marketable securities | (84,904) | (779,701) | (199,335) |
Proceeds from sales of marketable securities | 639,586 | 9,581 | 0 |
Maturities of marketable securities | 91,605 | 228,976 | 99,950 |
Net cash provided by (used in) investing activities | 495,427 | (629,631) | (142,030) |
Financing activities | |||
Proceeds from the issuance of common stock upon initial public offering, net of underwriting discounts | 0 | 665,092 | 0 |
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs | 0 | 0 | 206,896 |
Repayment of loan payable | 0 | 0 | (6,158) |
Proceeds from revolving line of credit | 0 | 0 | 10,000 |
Issuance costs related to revolving line of credit | (3,328) | 0 | 0 |
Repayment of revolving line of credit | 0 | 0 | (20,000) |
Proceeds from issuance of Senior Notes, net of debt financing costs | 739,569 | 0 | 0 |
Repayment of notes receivable from related parties | 0 | 0 | 198 |
Payments of contingent consideration | 0 | 0 | (242) |
Payments of indemnity holdback | 0 | 0 | (1,887) |
Repurchase of stock options | 0 | 0 | (2,330) |
Payments of deferred offering costs | 0 | (5,872) | 0 |
Proceeds from issuance of common stock upon exercise of stock options | 28,831 | 21,512 | 3,912 |
Proceeds from the issuance of common stock upon exercise of early exercisable stock options | 0 | 10,264 | 0 |
Proceeds from issuance of common stock under the employee stock purchase plan | 34,263 | 12,365 | 0 |
Settlement related to stockholder short-swing trade profit | 0 | 2,283 | 0 |
Capital contributions from non-controlling interest holders | 800 | 500 | 0 |
Net cash provided by financing activities | 800,135 | 706,144 | 190,389 |
Effect of foreign exchange rates on cash and cash equivalents | 1,682 | (66) | (162) |
Net increase in cash and cash equivalents | 1,653,810 | 176,390 | 25,229 |
Cash and cash equivalents, beginning of period | 264,798 | 88,408 | 63,179 |
Cash and cash equivalents, end of period | 1,918,608 | 264,798 | 88,408 |
Supplemental disclosure of cash flow information: | |||
Interest paid | 18 | 7 | 449 |
Income taxes paid, net of refunds received | 1,732 | 1,862 | 1,394 |
Supplemental disclosure of non-cash investing and financing activities: | |||
Contingent consideration associated with business combinations | 0 | 0 | 474 |
Conversion of redeemable convertible preferred stock to common stock | 0 | 557,912 | 0 |
Conversion of redeemable convertible preferred stock warrant liabilities reclassified to additional paid-in capital | 0 | 10,559 | 0 |
Net (decrease) increase in deferred offering costs, accrued but not paid | 0 | (2,858) | 2,858 |
Net (decrease) increase in property and equipment included in accounts payable and accrued expenses | 1,042 | (3,193) | 3,004 |
Vesting of early exercised options | 3,318 | 2,704 | 543 |
Equity consideration for acquisitions | 3,842 | 0 | 0 |
Debt financing costs, accrued but not paid | 1,581 | 0 | 0 |
Operating lease liabilities arising from obtaining operating right of-use assets | $ 6,249 | $ 0 | $ 0 |
Description of Business and Bas
Description of Business and Basis of Presentation | 12 Months Ended |
Jan. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business and Basis of Presentation | Description of Business and Basis of Presentation Business CrowdStrike Holdings, Inc. (the “Company”) was formed on November 7, 2011. The Company provides a leading cloud-delivered solution for next-generation endpoint and cloud workload protection that offers 19 cloud modules and its Falcon platform via a software as a service (“SaaS”) subscription-based model that spans multiple security markets, including corporate workload security, security and vulnerability management, managed security services, IT operations management, threat intelligence services, identity protection and log management. The Company is headquartered in Sunnyvale, California. The Company conducts its business in the United States, as well as locations internationally, including in Australia, Germany, India, Israel, Romania, and the United Kingdom. Initial Public Offering On June 14, 2019, the Company closed its initial public offering (“IPO”), in which it sold 20,700,000 shares of Class A common stock. The shares were sold at a public offering price of $34.00 per share for net proceeds of $659.2 million, after deducting underwriters’ discounts and commissions and offering expenses of $44.8 million. Immediately prior to the closing of the IPO, all outstanding shares of redeemable convertible preferred stock automatically converted into 131,267,586 shares of Class B common stock on a one-to-one basis. Additionally, in connection with the IPO all of the Company’s outstanding common stock was reclassified into shares of Class B common stock on a one-for-one basis. Redeemable convertible preferred stock warrants also converted into 336,386 warrants to purchase Class B common stock on a one-to-one basis. Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). Effective February 1, 2020, the Company adopted the Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) as discussed in Note 2 below. Prior periods were not retrospectively recast, and accordingly, the consolidated balance sheet as of January 31, 2020, and the consolidated statements of operations for the years ended January 31, 2020 and 2019 were prepared using the prior lease accounting standard referred to as ASC Topic 840. Effective February 1, 2019, the Company adopted the Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (“ASC 606”) as discussed in Note 2 below. Prior periods were not retrospectively recast, and accordingly, the consolidated statements of operations for the year ended January 31, 2019 was prepared using the prior revenue recognition standard referred to as ASC 605. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jan. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s consolidated financial statements and accompanying notes. These estimates are based on information available as of the date of the consolidated financial statements. On a regular basis, management evaluates these estimates and assumptions. Actual results may differ from these estimates and such difference could be material to the Company’s consolidated financial statements. Estimates and assumptions used by management include, but are not limited to, revenue recognition, the allowance for doubtful accounts, the carrying value and the useful lives of long-lived assets, the fair values of financial instruments and strategic investments, the period of benefit for deferred contract acquisition costs, the discount rate used for operating leases, the recognition and disclosure of contingent liabilities, income taxes, stock-based compensation, the fair value of assets acquired and liabilities assumed for business combinations, and the accounting for the Senior Notes. Due to the Coronavirus (“COVID-19”) pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require a material update to its estimates or judgments or an adjustment of the carrying value of its assets or liabilities as of January 31, 2021. While there was not a material impact to the Company’s consolidated financial statements as of and for the year ended January 31, 2021, these estimates may change, as new events occur and additional information is obtained, as well as other factors related to COVID-19 that could result in material impacts to the Company’s consolidated financial statements in future reporting periods. Concentration of Credit Risk and Geographic Information The Company generates revenue from the sale of subscriptions to access its cloud platform and professional services. The Company’s sales team, along with its channel partner network of system integrators and value-added resellers (collectively, “channel partners”), sells the Company’s services worldwide to organizations of all sizes. Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents, marketable securities, accounts receivable, and strategic investments. The Company’s cash is placed with high-credit-quality financial institutions and issuers, and at times exceed federally insured limits. The Company limits its concentration of risk in cash equivalents and marketable securities by diversifying its investments among a variety of industries and issuers. The Company has not experienced any credit loss relating to its cash equivalents, marketable securities, and strategic investments. The Company performs periodic credit evaluations of its customers and generally does not require collateral. As of January 31, 2021, the Company did not have any cash equivalents or marketable securities. Channel partners or direct customers who represented 10% or more of the Company’s accounts receivable were as follows: January 31, 2021 2020 Channel partner A 6 % 11 % Channel partner B 4 % 10 % Channel partner C (1) 10 % 3 % Customer A (1) 17 % 17 % ______________________________ (1) Channel Partner C and Customer A are controlled by the same Company. Channel partners who represented 10% or more of the Company’s total revenue were as follows: Year Ended January 31, 2021 2020 2019 Channel partner A 8 % 10 % 15 % There were no direct customers who represented 10% or more of the Company’s total revenue during the years ended January 31, 2021, January 31, 2020, and January 31, 2019. Cash Equivalents and Marketable Securities The Company considers all highly liquid investments with original maturities of three months or less at date of purchase to be cash equivalents. As of January 31, 2021, the Company did not have any cash equivalents or marketable securities. Cash equivalents as of January 31, 2020 consisted of corporate debt securities and money market funds stated at fair value. The Company classifies investments in marketable securities as available-for-sale securities at the time of purchase and re-evaluates the designations as of each balance sheet date. The Company classifies its available-for-sale securities as short-term investments based on their nature and their availability for use in current operations. Available-for-sale securities are carried at fair value with unrealized gains and losses, if any, included in accumulated other comprehensive income (loss). Unrealized losses are recorded in Other income (expense), net, for declines in fair value below the cost of an individual investment that is deemed to be other-than-temporary. The Company did not identify any marketable securities as other-than-temporarily impaired as of January 31, 2020. The Company determines realized gains or losses on the sale of marketable securities on a specific identification method and records such gains or losses in Other income (expense), net. Marketable securities as of January 31, 2020 consisted of corporate debt securities and U.S. treasury securities. Strategic Investments In July 2019, the Company agreed to commit up to $10.0 million to a newly formed entity, CrowdStrike Falcon Fund LLC (“Falcon Fund”) in exchange for 50% of the sharing percentage of any distribution by Falcon Fund. Additionally, entities associated with Accel, a holder of more than 5% of the Company’s capital stock, also agreed to commit up to $10.0 million to Falcon Fund, and collectively own the remaining 50% of the sharing percentage of Falcon Fund. Falcon Fund is in the business of purchasing, selling and investing in minority equity and convertible debt securities of privately-held companies that develop applications that have potential for substantial contribution to CrowdStrike and its platform. The Company is the manager of the Falcon Fund and controls the investment decisions and day-to-day operations and accordingly has consolidated the Falcon Fund. Falcon Fund has a duration of ten years and may be extended for three The Company has elected the measurement alternative for the non-marketable equity investments of the Falcon Fund where eligible. Under the measurement alternative, the carrying value of the strategic investments is adjusted to fair value for observable transactions for identical or similar investments of the same issuer or impairment. All gains and losses on strategic investments, realized and unrealized, are recognized in Other income (expense), net. Strategic investments are classified within Level 3 in the fair value hierarchy when a remeasurement occurs based on price changes from observable transactions of identical or similar securities of the same issuer or for impairment. The fair value is estimated based on valuation methods using the observable transaction price at the transaction date and other unobservable inputs including volatility, rights, and obligations of the investments. The Company classifies the investments in Falcon Fund as a non-current asset called Strategic Investments on the consolidated balance sheets as of January 31, 2021. There have been no realized or unrealized gains or losses on the strategic investments during the year ended January 31, 2021. Fair Value of Financial Instruments The Company’s financial instruments consist of cash equivalents, marketable securities, strategic investments, accounts receivable, accounts payable, accrued expenses, the redeemable convertible preferred stock warrant liability, and the Senior Notes. The carrying values of cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to their short-term nature. The Senior Notes are carried at the initially allocated liability value less unamortized debt discount and issuance costs on the Company’s consolidated balance sheet. The Company discloses the fair value of the Senior Notes at each reporting period for disclosure purposes only. Refer to Note 3, Fair Value Measurements and Marketable Securities, regarding the fair value of the Company’s marketable securities and non-marketable securities and Note 5, Debt, for the fair value of the Company’s Senior Notes. The Company reports the redeemable convertible preferred stock warrant liability at fair value (see Note 3, Fair Value Measurements ). The warrants issued by the Company for redeemable convertible preferred stock in January 2015, December 2016, and March 2017 (see Note 7, Redeemable Convertible Preferred Stock ) have been recorded as a liability based on “Level 3” inputs, which consist of unobservable inputs and reflect management’s estimates of assumptions that market participants would use in pricing the liability. The fair value of the warrants was determined using the Black-Scholes option-pricing model, which is affected by changes in inputs to that model including the Company’s stock price, expected stock price volatility, risk-free rate, and contractual term. Immediately prior to the closing of the IPO on June 14, 2019, the redeemable convertible preferred stock warrants converted into 336,386 warrants to purchase Class B common stock on a one-to-one basis. The redeemable convertible preferred stock warrant liability was reclassified to additional paid-in capital upon the closing of the IPO. Accounts Receivable Accounts receivable are recorded at the invoiced amount and are non-interest bearing. Accounts receivable are stated at their net realizable value, net of allowance for doubtful accounts. The Company has a well-established collections history from its customers. Credit is extended to customers based on an evaluation of their financial condition and other factors. The Company generally does not require collateral from its customers; however, the Company may require payment prior to commencing service in certain instances to limit credit risk. The Company regularly reviews the adequacy of the allowance for doubtful accounts by considering various factors including the age of each outstanding invoice, each customer’s expected ability to pay, historical loss rates and expectations of forward-looking loss estimates to determine whether the allowance is appropriate. Amounts deemed uncollectible are written off against the allowance for doubtful accounts. As of January 31, 2021 and January 31, 2020, the allowance for doubtful accounts was $1.2 million and $1.1 million, respectively. Software Implementation Costs The Company contracts with third party information technology providers for various service arrangements including software, platform, and information technology infrastructure. The Company capitalizes the implementation cost incurred to develop or obtain internal-use software in such arrangements and are recorded as part of property and equipment, net in the consolidated balance sheets. All capitalized implementation costs are amortized over the term of the arrangement which includes reasonably certain renewals. Costs incurred during the preliminary project and post implement stage are expensed as the activities are performed. Capitalized implementation costs was $0.3 million for the fiscal year ended January 31, 2021. Deferred Offering Costs Deferred offering costs consisted of fees and expenses incurred in connection with the sale of the Company's common stock in an IPO, including legal, accounting, printing and other IPO-related costs. Upon the close of the IPO on June 14, 2019, total deferred offering costs of $5.9 million were reclassified to stockholders’ equity and recorded against the proceeds from the offering. Property and Equipment, Net Property and equipment, net, is stated at historical cost less accumulated depreciation and amortization. Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets as follows: Data center and other computer equipment 3 - 5 years Furniture and equipment 5 years Purchased software 3 - 5 years Capitalized internal-use software and website development 3 years Leasehold improvements Estimated useful life or term of the lease, whichever is shorter Expenditures for routine maintenance and repairs are charged to operating expense as incurred. Major renewals and improvements are capitalized and depreciated over their estimated useful lives. Upon retirement or other disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts, and any gain or loss is recorded in operating expenses in the consolidated statement of operations. Capitalized Internal-Use Software The Company capitalizes certain development costs incurred in connection with its internal-use software. These capitalized costs are primarily related to the Company’s cloud-delivered solution for next-generation endpoint protection. Costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the development stage, internal and external costs, if direct, are capitalized until the software is substantially complete and ready for its intended use. Capitalization ceases upon completion of all substantial testing. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional functionality. Capitalized costs are recorded as property and equipment, net. Maintenance and training costs are expensed as incurred. Internal-use software is amortized to cost of revenue on a straight-line basis over its estimated useful life of three years. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. Intangible Assets, Net Intangible assets, net, consisting of developed technology, customer relationships, and other acquired intangibles, are stated at cost less accumulated amortization. All intangible assets have been determined to have definite lives and are amortized on a straight-line basis over their estimated economic lives, which are generally one and marketing expenses, and amortization expense related to other acquired intangibles is included in research and development expenses. Deferred Contract Acquisition Costs Prior to the adoption of ASC606, sales commissions associated with the Falcon platform were amortized over the contract term and sales commissions associated with professional service contracts were expensed as incurred. Under ASC 606, the Company capitalizes contract acquisition costs that are incremental to the acquisition of customer contracts. Contract acquisition costs are accrued and capitalized upon execution of the sales contract by the customer. Sales commissions for renewal of a contract are not considered commensurate with the commissions paid for the acquisition of the initial contract or follow-on upsell given the substantive difference in commission rates in proportion to their respective contract values. Commissions, including referral fees paid to channel partners, earned upon the initial acquisition of a contract or subsequent upsell are amortized over an estimated period of benefit of four years while commissions earned for renewal contracts are amortized over the contractual term of the renewals. Sales commissions associated with professional service contract are amortized ratably over an estimated period of benefit of six months. The Company capitalized contract acquisition costs of $151.0 million and $86.6 million during the years ended January 31, 2021 and January 31, 2020, respectively. Contract acquisition cost amortization expense was $66.4 million and $35.5 million under ASC 606 during the year ended January 31, 2021 and January 31, 2020, respectively. Contract acquisition cost amortization expense was $28.6 million under ASC 605, during the year ended January 31, 2019. Impairment of Long-Lived Assets The Company reviews for impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of the asset (or asset group) may not be recoverable. Events and changes in circumstances considered by the Company in determining whether the carrying value of long-lived assets may not be recoverable, include, but are not limited to: significant changes in performance relative to expected operating results, significant changes in the use of the assets, significant negative industry or economic trends, and changes in the Company’s business strategy. Impairment testing is performed at an asset level that represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities (an “asset group”). An impairment loss would be recognized when estimated future cash flows expected to result from the use of the asset (or asset group) and its eventual disposition is less than its carrying amount. No impairment indicators were identified by the Company and no impairment losses were recorded by the Company during the years ended January 31, 2021, January 31, 2020, and January 31, 2019. Deferred Revenue The deferred revenue balance consists of subscription and professional services which have been invoiced upfront and are recognized as revenue only when the revenue recognition criteria are met. The Company’s subscription contracts are typically invoiced to its customers at the beginning of the term, or in some instances, such as in multi-year arrangements, in installments. Professional services are either invoiced upfront, invoiced in installments, or invoiced as the services are performed. Accordingly, the Company’s deferred revenue balance does not include revenues for future years of multi-year non-cancellable contracts that have not yet been billed. The Company recognizes subscription revenue ratably over the contract term beginning on the commencement date of each contract, the date that services are made available to customers. The Company recognizes professional services revenue as services are delivered. Once services are available to customers, the Company records amounts due in accounts receivable and in deferred revenue. To the extent the Company bills customers in advance of the contract commencement date, the accounts receivable and corresponding deferred revenue amounts are netted to zero on the consolidated balance sheets, unless such amounts have been paid as of the balance sheet date. Redeemable Convertible Preferred Stock Warrants Warrants related to the Company’s redeemable convertible preferred stock are classified as liabilities on the Company’s consolidated balance sheets. The warrants are subject to reassessment at each balance sheet date, and any change in fair value is recognized as a component of Other income (expense), net, in the consolidated statements of operations. The Company will continue to adjust the liability for changes in fair value until the earlier of the expiration or exercise of the warrants, or upon their automatic conversion into warrants to purchase common stock in connection with a qualified initial public offering (as defined in Note 7, Redeemable Convertible Preferred Stock ) such that they qualify for equity classification and no further remeasurement is required. Immediately prior to the closing of the IPO on June 14, 2019, the redeemable convertible preferred stock warrants converted into 336,386 warrants to purchase Class B common stock on a one-to-one basis. The redeemable convertible preferred stock warrant liability was reclassified to additional paid-in capital. Within the same month, the Company received notice from the holders of 336,386 warrants as to their intentions to exercise the warrants for shares of common stock of the Company. Such shares were settled via net settlement method, which was elected by the holders to reduce the number of shares issued upon exercise to reflect net settlement of the exercise price, resulting in the issuance of 322,278 shares of the Company’s common stock. Revenue Recognition The Company adopted ASC 606 on February 1, 2019, using the modified retrospective transition method. Under this method, results for reporting periods beginning on February 1, 2019 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with prior accounting under Topic 605. In accordance with ASC 606, revenue is recognized when a customer obtains control of promised services. The amount of revenue recognized reflects the consideration that the Company expects to be entitled to receive in exchange for these services. To achieve the core principle of this standard, the Company applies the following five steps: (1) Identify the contract with a customer The Company considers the terms and conditions of contracts with customers and its customary business practices in identifying contracts under ASC 606. The Company determines it has a contract with a customer when the contract is approved, each party’s rights regarding the services to be transferred can be identified, payment terms for the services can be identified, it has been determined that the customer has the ability and intent to pay, and the contract has commercial substance. The Company applies judgment in determining the customer’s ability and intent to pay, which is based on a variety of factors, including the customer’s historical payment experience or, in the case of a new customer, credit and financial information pertaining to the customer. (2) Identify the performance obligations in the contract Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from the Company or from third parties, and are distinct in the context of the contract, whereby the transfer of the services is separately identifiable from other promises in the contract. The Company’s performance obligations consist of (i) subscriptions and (ii) professional services. (3) Determine the transaction price The transaction price is determined based on the consideration which the Company is expected to be entitled to in exchange for transferring services to the customer. Variable consideration is included in the transaction price if it is probable that a significant future reversal of cumulative revenue under the contract will not occur. None of the Company’s contracts contain a significant financing component. (4) Allocate the transaction price to performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price (“SSP”). (5) Recognize revenue when or as performance obligations are satisfied Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised service to the customer. Revenue is recognized when control of the services is transferred to the customer, in an amount that reflects the consideration expected to be received in exchange for those services. The Company generates all its revenue from contracts with customers. Subscription Revenue The Company’s Falcon Platform technology solutions are subscription, SaaS offerings designed to continuously monitor, share, and mitigate risks from determined attackers. Customers do not have the right to take possession of the cloud-based software platform. Fees are based on several factors, including the solutions subscribed for by the customer and the number of endpoints purchased by the customer. The subscription fees are typically payable within 30 to 60 days after the execution of the arrangement, and thereafter upon renewal or subsequent installment. The Company initially records the subscription fees as deferred revenue and recognizes revenue on a straight-line basis over the term of the agreement. The typical subscription term is one Professional Services Revenue The Company offers several types of professional services including incident response and forensic services, surge forensic and malware analysis, and attribution analysis, which are focused on responding to imminent and direct threats, assessing vulnerabilities, and recommending solutions. These services are distinct from subscription services. Professional services do not result in significant customization of the subscription service. The professional services are available through hourly rate and fixed fee contracts, one-time and ongoing engagements, and retainer-based agreements. Revenue for time and materials arrangements is recognized as services are performed and revenue for fixed fees is recognized on a proportional performance basis as the services are performed. Contracts with Multiple Performance Obligations Some contracts with customers contain multiple promised services consisting of subscription and professional services that are distinct and accounted for separately. The transaction price is allocated to the separate performance obligations on a relative SSP basis. The SSP is the price at which the Company would sell promised subscription or professional services separately to a customer. Judgment is required to determine the SSP for each distinct performance obligation. The Company determines SSP based on its overall pricing objectives, taking into consideration the type of subscription or professional service and the number of endpoints. Variable Consideration Revenue from sales is recorded at the net sales price, which is the transaction price, and includes estimates of variable consideration. The amount of variable consideration that is included in the transaction price is constrained and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue will not occur when the uncertainty is resolved. If subscriptions do not meet certain service level commitments, the Company’s customers are entitled to receive service credits, and in certain cases, refunds, each representing a form of variable consideration. The Company has historically not experienced any significant incidents affecting the defined levels of reliability and performance as required by its subscription contracts. Accordingly, any estimated refunds related to these agreements in the consolidated financial statements is not material during the periods presented. The Company provides rebates and other credits within its contracts with certain resellers, which are estimated based on the most likely amounts expected to be earned or claimed on the related sales transaction. Overall, the transaction price is reduced to reflect the Company’s estimate of the amount of consideration to which it is entitled based on the terms of the contract. Estimated rebates and other credits were not material during the periods presented. Research and Development Expense Research and development costs are expensed when incurred, except for certain internal-use software development costs, which may be capitalized as noted above. Research and development expenses consist primarily of personnel and related headcount costs, costs of professional services associated with the ongoing development of the Company’s technology, and allocated overhead. Advertising All advertising costs are expensed as incurred and are included in sales and marketing expense in the consolidated statements of operations. The Company incurred $27.9 million, $8.0 million, and $3.1 million of advertising costs during the years ended January 31, 2021, January 31, 2020, and January 31, 2019, respectively. Stock-Based Compensation The Company accounts for stock-based awards granted to employees and directors based on the awards’ estimated grant date fair value. The Company estimates the fair value of its stock options using the Black-Scholes option-pricing model. The resulting fair value is recognized on a straight-line basis over the period during which the employee or director is required to provide service in exchange for the award, usually the vesting period, which is generally four years. The Company accounts for forfeitures as they occur. Restricted stock units (“RSUs”) granted under the 2011 Plan are subject to a service-based vesting condition and a performance-based vesting condition. The service-based vesting condition is generally satisfied based on one of three vesting schedules: (i) vesting of one-fourth of the RSUs on the first “Company vest date” (defined as March 20, June 20, September 20, or December 20) on or following the one-year anniversary of the vesting commencement date with the remainder of the RSUs vesting in twelve equal quarterly installments thereafter, subject to continued service, (ii) vesting in sixteen equal quarterly installments beginning on December 20, 2018, subject to continued service, or (iii) vesting in eight equal quarterly installments beginning on December 20, 2022, subject to continued service. The performance-based vesting condition is satisfied on the earlier of (i) a change in control, in which the consideration paid to holders of shares is either cash, publicly traded securities, or a combination thereof, or (ii) the first Company vest date to occur following the expiration of the lock-up period upon an IPO, subject to continued service through such change in control or lock-up expiration, as applicable. None of the RSUs vest unless the performance-based vesting condition is satisfied. Upon the completion of the IPO, the performance-based vesting condition was met and the Company recognized $17.3 million of deferred expense related to RSUs as of that date in its consolidated statement of operations. Upon its IPO, the Company began issuing RSUs to its employees and these RSUs generally have only a service condition. The service-based vesting condition is generally with a vesting term of four years. The valuation of such RSUs is based solely on the fair value of the Company’s stock price on the date of grant. Expense for RSUs that have a service-based condition only are being amortized on a straight-line basis. Performance-based stock units (“PSUs”) granted under the 2019 Plan are subject to a performance-based vesting condition. With regard to the performance conditions, the fair value of new or modified awards is equal to the grant date fair market value of the Company’s common stock. PSUs generally vest over a four-year period and subject to continued service through the applicable vesting dates. The compensation cost is recognized over the requisite service period when it is probable that the performance condition will be satisfied. Business Combinations The Company allocates the fair value of purchase consideration to the tangible assets acquired, liabilities assumed, and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not limited to, future expected cash flows from acquired users, acquired technology, trade names from a market participant perspective, useful lives and discount rates. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, which is one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded |
Fair Value Measurements and Mar
Fair Value Measurements and Marketable Securities | 12 Months Ended |
Jan. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements and Marketable Securities | Fair Value Measurements and Marketable Securities The Company follows ASC 820, Fair Value Measurements, with respect to marketable securities that are measured at fair value on a recurring basis. Under the standard, fair value is defined as the exit price, or the amount that would be received to sell an asset or a liability in an orderly transaction between market participants as of the measurement date. The standard also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. The hierarchy is broken down into three levels as follows: Level 1 Assets and liabilities whose values are based on unadjusted quoted market prices for identical assets and liabilities in active markets. Level 2 Assets and liabilities whose values are based on quoted prices in markets that are not active or inputs that are observable for substantially the full term of the asset or liability Level 3 Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis are as follows: January 31, 2021 January 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (in thousands) Assets Cash equivalents (1) Money market funds $ — $ — $ — $ — $ 205,379 $ — $ — $ 205,379 Corporate debt securities — — — — — 39,940 — 39,940 Total cash equivalents — — — — 205,379 39,940 — 245,319 Marketable securities Corporate debt securities — — — — — 495,022 — 495,022 U.S. treasury securities — — — — 84,431 — — 84,431 Asset backed securities — — — — — 67,813 — 67,813 Total marketable securities — — — — 84,431 562,835 — 647,266 Total assets $ — $ — $ — $ — $ 289,810 $ 602,775 $ — $ 892,585 ______________________________ (1) Included in “Cash and cash equivalents” on the consolidated balance sheets. There were no transfers between the levels of the fair value hierarchy during the years ended January 31, 2021 or January 31, 2020. As of January 31, 2021, there were no marketable securities held by the Company. As of January 31, 2020, the amortized cost of the Company’s cash equivalents and marketable securities approximated their fair value and there were no material realized or unrealized gains or losses, either individually or in the aggregate. In addition, the securities that had been in continuous unrealized loss position per security type and in aggregate are not material as of January 31, 2020. There were no impairments considered “other-than-temporary” as it is more likely than not the Company will hold the securities until maturity or a recovery of the cost basis as of January 31, 2020. The following summarizes the changes in strategic investments: Year Ended January 31 2021 2020 (in thousands) Total initial cost $ 2,500 $ 1,000 Cumulative gain — — Carrying value $ 2,500 $ 1,000 There was no unrealized gain and loss included as an adjustment to the carrying value related to non-marketable securities as of January 31, 2021. The following summarizes the changes in the redeemable convertible preferred stock warrant liability, which is classified as a Level 3 instrument: Year Ended January 31 2021 2020 2019 (in thousands) Balance at beginning of period $ — $ 4,537 $ 961 Adjustment resulting from change in fair value recognized in the consolidated statement of operations — 6,022 3,576 Reclassification of redeemable convertible preferred stock warrant liability to additional paid-in capital upon IPO — (10,559) — Balance at end of period $ — $ — $ 4,537 The fair value of the redeemable convertible preferred stock warrant liability was estimated using the Black-Scholes option-pricing model and was based on significant inputs not observable in the market, and therefore was classified as a Level 3 instrument. The inputs include the Company’s preferred stock price, expected stock price volatility, risk-free interest rate, and contractual term. A loss of $6.0 million and $3.6 million was recorded as a component of Other income (expense), net, because of the remeasurement of the redeemable convertible preferred stock warrant liability during the years ended January 31, 2020, and January 31, 2019, respectively. |
Balance Sheet Components
Balance Sheet Components | 12 Months Ended |
Jan. 31, 2021 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Balance Sheet Components | Balance Sheet Components Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following: January 31, 2021 2020 (in thousands) Prepaid expenses $ 23,072 $ 20,390 Prepaid software licenses 20,596 16,645 Prepaid hosting services 5,383 8,056 Other current assets 4,566 6,523 Prepaid expenses and other current assets $ 53,617 $ 51,614 Property and Equipment, Net Property and equipment, net consisted of the following: January 31, 2021 2020 (in thousands) Data center and other computer equipment $ 146,220 $ 87,166 Capitalized internal-use software 44,358 30,354 Leasehold improvements 19,733 13,157 Purchased software 3,211 2,604 Furniture and equipment 6,498 4,835 Construction in process 35,528 47,626 255,548 185,742 Less: Accumulated depreciation and amortization (88,534) (49,664) Property and equipment, net $ 167,014 $ 136,078 Construction in process mainly includes data center equipment purchased that has not yet been placed in service. Data center equipment that was purchased but not yet been placed into service was $30.0 million and $44.9 million as of January 31, 2021 and January 31, 2020, respectively. Depreciation and amortization expense of property and equipment was $38.7 million, $23.0 million, and $14.8 million, during the years ended January 31, 2021, January 31, 2020, and January 31, 2019, respectively. There were no impairments of internal-use software during the years ended January 31, 2021, January 31, 2020, and January 31, 2019 . The Company capitalized $14.0 million, $8.1 million, and $6.8 million in internal-use software during the years ended January 31, 2021, January 31, 2020, and January 31, 2019, respectively. Amortization expense associated with internal-use software totaled $7.9 million, $6.2 million and $5.2 million during the years ended January 31, 2021, January 31, 2020, and January 31, 2019, respectively. The net book value of capitalized internal-use software was $19.5 million and $13.4 million as of January 31, 2021 and January 31, 2020, respectively. Intangible Assets, Net Total intangible assets, net consisted of the following: January 31, 2021 Weighted-Average Remaining Useful Life Gross Carrying Amount Accumulated Amortization Net Amount (in thousands) (in months) Developed technology $ 14,513 $ 2,193 $ 12,320 56 Customer relationships 3,769 649 3,120 54 Other acquired intangible assets 399 162 237 185 Total $ 18,681 $ 3,004 $ 15,677 January 31, 2020 Weighted-Average Remaining Useful Life Gross Carrying Amount Accumulated Amortization Net Amount (in thousands) (in months) Developed Technology $ 1,238 $ 1,067 $ 171 9 Customer relationships 607 280 327 33 Other acquired intangible assets 121 92 29 9 Total $ 1,966 $ 1,439 $ 527 Amortization of developed technology, customer relationships, and other acquired intangible assets are recorded within cost of revenue, sales and marketing expense, and research and development expense, respectively, in the consolidated statements of operations. Amortization expense of intangible assets was $1.4 million, $0.5 million, and $0.6 million, during the years ended January 31, 2021, January 31, 2020, and January 31, 2019, respectively. The estimated aggregate future amortization expense of intangible assets as of January 31, 2021 is as follows: Total (in thousands) Fiscal 2022 $ 3,462 Fiscal 2023 3,363 Fiscal 2024 3,268 Fiscal 2025 3,268 Fiscal 2026 2,182 Thereafter 134 Total amortization expense $ 15,677 The developed technology, customer relationships, and other acquired intangible assets are generally being amortized over 5 years, 5 years, and 1 year, respectively. Goodwill Goodwill during the year ended January 31, 2021 consisted of the following: Amounts (in thousands) Goodwill as of January 31, 2020 $ 7,722 Goodwill acquired 75,297 Foreign currency translation 547 Goodwill as of January 31, 2021 $ 83,566 Accrued Expenses Accrued expenses consisted of the following: January 31, 2021 2020 (in thousands) Accrued marketing $ 14,592 $ 1,970 Web hosting services 14,187 16,367 Other accrued expenses 12,059 7,459 Accrued legal and accounting 5,709 1,770 Accrued purchases of property and equipment 4,570 2,789 Accrued expenses $ 51,117 $ 30,355 Accrued Payroll and Benefits Accrued payroll and benefits consisted of the following: January 31, 2021 2020 (in thousands) Accrued commissions $ 32,300 $ 15,399 Accrued payroll and related expenses 16,528 6,680 Accrued bonuses 12,110 8,171 Employee Stock Purchase Plan 10,969 6,560 Accrued payroll and benefits $ 71,907 $ 36,810 |
Debt
Debt | 12 Months Ended |
Jan. 31, 2021 | |
Debt Disclosure [Abstract] | |
Debt | Debt Secured Revolving Credit Facility In April 2019, the Company entered into a Credit Agreement with Silicon Valley Bank and other lenders, to provide a revolving line of credit of up to $150.0 million, including a letter of credit sub-facility in the aggregate amount of $10.0 million, and a swingline sub-facility in the aggregate amount of $10.0 million. On January 4, 2021, the Company amended and restated its existing credit agreement (the “A&R Credit Agreement” and the facility thereunder the “Revolving Facility”) among CrowdStrike, Inc., as borrower, CrowdStrike Holdings, Inc., as guarantor, and Silicon Valley Bank and the other lenders party thereto, providing the Company with a revolving line of credit of up to $750.0 million, including a letter of credit sub-facility in the aggregate amount of $100.0 million, and a swingline sub-facility in the aggregate amount of $50.0 million. The Company also has the option to request an incremental facility of up to an additional $250.0 million from one or more of the lenders under the A&R Credit Agreement. The A&R Credit Agreement is guaranteed by all of the Company’s material domestic subsidiaries. The A&R Credit Agreement extended the maturity date of April 19, 2022 to January 2, 2026. Under the A&R Credit Agreement, revolving loans may be either Eurodollar Loans or Alternate Base Rate (“ABR”) Loans. Outstanding Eurodollar Loans incur interest at the Eurodollar Rate, which is defined as LIBOR (or any successor thereto), subject to a 0.00% LIBOR floor, plus a margin between 1.50% and 2.00%, depending on the Company’s senior secured leverage ratio. Outstanding ABR Loans incur interest at the highest of (a) the Prime Rate, as published by the Wall Street Journal, (b) the federal funds rate in effect for such day plus 0.50%, and (c) the Eurodollar Rate plus 1.00%, in each case plus a margin between (0.25%) and 0.25%, depending on the senior secured leverage ratio. The Company will be charged a commitment fee of 0.15% to 0.25% per year for committed but unused amounts, depending on the senior secured leverage ratio. The financial covenants require the Company to maintain a minimum consolidated interest coverage ratio of 3.00:1.00, a maximum senior secured leverage ratio of 3.00:1.00 (through January 31, 2023), and a maximum total leverage ratio of 5.50:1.00 stepping down to 3.50:1.00 over time. The Company was in compliance with the financial covenants as of January 31, 2021. The A&R Credit Agreement is secured by substantially all of the Company’s current and future consolidated assets, property and rights, including, but not limited to, intellectual property, cash, goods, equipment, contractual rights, financial assets, and intangible assets of the Company and certain of its subsidiaries. The A&R Credit Agreement contains customary covenants limiting the Company’s ability and the ability of its subsidiaries to, among other things, dispose of assets, undergo a change in control, merge or consolidate, make acquisitions, incur debt, incur liens, pay dividends, repurchase stock, and make investments, in each case subject to certain exceptions. No amounts were outstanding under the A&R Credit Agreement as of January 31, 2021. Senior Notes On January 20, 2021, the Company issued $750.0 million in aggregate principal amount of 3.00% Senior Notes maturing in February 2029. The Senior Notes are guaranteed by the Company’s subsidiary, CrowdStrike, Inc. and will be guaranteed by each of the Company’s existing and future domestic subsidiaries that becomes a borrower or guarantor under the A&R Credit Agreement. The Senior Notes were issued at par and bear interest at a rate of 3.00% per annum. Interest payments are payable semiannually on February 15 and August 15 of each year, commencing on August 15, 2021. The Company may voluntarily redeem the Senior Notes, in whole or in part, 1) at any time prior to February 15, 2024 at (a) 100.00% of their principal amount, plus a “make whole” premium or (b) with the net cash proceeds received from an equity offering at a redemption price equal to 103.00% of the principal amount, provided the aggregate principal amount of all such redemptions does not to exceed 40% of the original aggregate principal amount of the notes; 2) at any time on or after February 15, 2024 at a prepayment price equal to 101.50% of the principal amount; 3) at any time on or after February 15, 2025 at a prepayment price equal to 100.75% of the principal amount; and 4) at any time on or after February 15, 2026 at a prepayment price equal to 100.00% of the principal amount; in each case, plus accrued and unpaid interest, if any, to but excluding, the date of redemption. The net proceeds from the debt offering were $739.6 million after deducting the underwriting commissions of $9.4 million and $1.0 million of issuance costs, which were paid as of January 31, 2021. An additional $1.6 million of issuance costs are expected to be paid in the first quarter of fiscal 2022. Debt issuance costs of $2.6 million are being amortized to interest expense using the effective interest method over the term of the Senior Notes. Interest expense related to contractual interest expense and amortization of debt issuance costs was $0.7 million and $0.1 million, respectively, during the fiscal year ended January 31, 2021. In certain circumstances involving a change of control events, the Company will be required to make an offer to repurchase all or, at the holder’s option, any part, of each holder’s notes of that series at 101% of the aggregate principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date. The indenture governing the Senior Notes (the “Indenture”) contain covenants limiting the Company’s ability and the ability of its subsidiaries to create liens on certain assets to secure debt; grant a subsidiary guarantee of certain debt without also providing a guarantee of the Senior Notes; declare dividends; and consolidate or merge with or into, or sell or otherwise dispose of all or substantially all of its assets to, another person. These covenants are subject to a number of limitations and exceptions. Certain of these covenants will not apply during any period in which the notes are rated investment grade by Fitch Ratings, Inc. (“Fitch”), Moody’s Investors Service, Inc. (“Moody’s”) and Standard & Poor’s Ratings Services (“S&P”). As of January 31, 2021, the Company was in compliance with all of its financial covenants under the Indenture associated with the Senior Notes. Based on the trading prices of the Senior Notes, the fair value of the Senior Notes as of January 31, 2021 was approximately $760.2 million. While the Senior Notes are recorded at cost, the fair value of the Senior Notes was determined based on quoted prices in markets that are not active; accordingly, the Senior Notes is categorized as Level 2 for purposes of the fair value measurement hierarchy. |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The Company’s geographical breakdown of its loss before provision for income taxes for the years ended January 31, 2021, January 31, 2020, and January 31, 2019 is as follows: Year Ended January 31, 2021 2020 2019 (in thousands) Domestic $ (94,713) $ (149,807) $ (143,308) International 6,844 10,025 4,598 Loss before provision for income taxes $ (87,869) $ (139,782) $ (138,710) The components of the provision for income taxes as of January 31, 2021, January 31, 2020, and January 31, 2019 are as follows: Year Ended January 31, 2021 2020 2019 (in thousands) Current Federal $ — $ — $ — State 401 104 304 Foreign 5,811 2,574 1,481 Total current 6,212 2,678 1,785 Deferred Federal (136) (362) — State (317) (57) — Foreign (999) (262) (418) Total deferred (1,452) (681) (418) Provision for income taxes $ 4,760 $ 1,997 $ 1,367 The following table provides a reconciliation between income taxes computed at the federal statutory rate and the provision for income taxes as of January 31, 2021 , January 31, 2020, and January 31, 2019: Year Ended January 31, 2021 2020 2019 (in thousands) Provision for income taxes at statutory rate $ (18,453) $ (29,354) $ (29,129) State income taxes, net of federal benefit — 25 245 Foreign earnings at different rates 1,994 207 97 Research and other credits (9,373) (1,534) (3,769) Stock-based compensation (140,489) (43,477) 2,414 Non-deductible expenses 2,212 1,773 1,833 Change in unrecognized tax benefits — (2,659) — Valuation allowance 168,869 77,016 29,676 Provision for income taxes $ 4,760 $ 1,997 $ 1,367 Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities as of January 31, 2021 and January 31, 2020 are as follows: Year Ended January 31, 2021 2020 (in thousands) Deferred tax assets Net operating loss carryforwards $ 289,889 $ 166,083 Research and other credit carryforwards 22,778 15,355 Intangible assets — 78 Stock-based compensation 20,154 8,716 Deferred revenue 21,595 21,012 Accrued expenses 7,791 2,555 Operating lease liabilities 10,718 — Capitalized research and development 63,158 — Other, net — 950 Gross deferred assets 436,083 214,749 Less: Valuation allowance (413,828) (207,596) Total deferred tax assets 22,255 7,153 Deferred tax liabilities Property and equipment, net (4,446) (2,534) Capitalized Commissions (2,960) (4,456) Intangible assets (3,697) — Operating right-of-use assets (9,610) — Other, net (302) — Total deferred tax liabilities (21,015) (6,990) Net deferred tax assets (liabilities) $ 1,240 $ 163 At each reporting date, the Company has established a valuation allowance against its U.S. net deferred tax assets due to the uncertainty surrounding the realization of those assets. During the fiscal year ended January 31, 2020, the Company has established a valuation allowance against its net U.K. deferred tax assets due to uncertainty surrounding the realization of those assets. The Company periodically evaluates the recoverability of the deferred tax assets and, when it is determined to be more-likely-than-not that the deferred tax assets are realizable, the valuation allowance is reduced. During the years ended January 31, 2021, January 31, 2020 and January 31, 2019, the valuation allowance increased by $206.2 million, $87.2 million, and $36.0 million, respectively. The increase in the valuation allowance during the years ended January 31, 2021, January 31, 2020 and January 31, 2019 was primarily driven by losses generated in the United States and the United Kingdom. During the years ended January 31, 2021, January 31, 2020, and January 31, 2019, the valuation allowance for deferred taxes balance was $413.8 million, $207.6 million, and $120.4 million, respectively. As of January 31, 2021, the Company had aggregate federal and California net operating loss carryforwards of $1.1 billion and $122.6 million, respectively, which may be available to offset future taxable income for income tax purposes. The federal and California net operating loss carryforwards begin to expire in fiscal 2031 through fiscal 2041. In addition, for federal losses generated after December 31, 2017, the Tax Cuts and Jobs Act of 2017 (“Tax Act”) modified the maximum deduction of net operating loss, eliminated carryback, and provided an indefinite carryforward. As of January 31, 2021, net operating loss carryforwards for other states total $660.7 million which begin to expire in fiscal 2024 through fiscal 2041. As of January 31, 2021, net operating loss carryforwards for United Kingdom total $50.2 million which are carried forward indefinitely. As of January 31, 2021, the Company had federal and California research and development (“R&D”) credit carryforwards of $38.7 million and $8.7 million, respectively. The federal R&D credit carryforwards will begin to expire in fiscal 2035 though fiscal 2041. The California R&D credits are carried forward indefinitely. Realization of these net operating loss and research and development credit carryforwards depends on future income, and there is a risk that the Company’s existing carryforwards could expire unused and be unavailable to offset future income tax liabilities. The Internal Revenue Code imposes limitations on a corporation’s ability to utilize net operating loss (“NOLs”) and credit carryovers if it experiences an ownership change as defined in Section 382. In general terms, an ownership change may result from transactions increasing the ownership of certain stockholders in the stock of a corporation by more than 50% over a three-year period. If an ownership change has occurred, or were to occur, utilization of the Company’s NOLs and credit carryovers could be restricted. The total gross unrecognized tax benefit as of January 31, 2021, January 31, 2020 and January 31, 2019 were $24.4 million, $5.5 million, and $8.1 million, respectively. As of January 31, 2021, the Company had $0.6 million of unrecognized tax benefits, which, if recognized, would affect the Company’s effective tax rate due to the full valuation allowance. The Company’s policy is to classify interest and penalties related to unrecognized tax benefits as part of the income tax provision in the consolidated statements of operations. The Company had no accrued interest and penalties related to unrecognized tax benefits as of January 31, 2021, January 31, 2020 or January 31, 2019. During the year ended January 31, 2021, the uncertain tax benefits balance increased as a result of additional guidance released by the IRS. During the year ended January 31, 2020, the uncertain tax benefits balance decreased due to the application of the IRS’ simplified approach for determining research credits. The potential reduction in unrecognized tax benefits during the next 12 months is not expected to be material. The following is a rollforward of the total gross unrecognized tax benefits for the years ended January 31, 2021, January 31, 2020, and January 31, 2019 (in thousands): Balance as of February 1, 2018 $ 8,128 Increases in current period tax positions — Balance as of January 31, 2019 8,128 Reductions in prior period tax positions (2,659) Balance as of January 31, 2020 5,469 Increases in prior period tax positions 6,926 Increase in current period tax positions 12,052 Balance as of January 31, 2021 $ 24,447 The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. As the Company expands its global operations in the normal course of business, the Company could be subject to examination by taxing authorities throughout the world. These audits could include questioning the timing and amount of deductions; the nexus of income among various tax jurisdictions; and compliance with federal, state, local, and foreign tax laws. The Company is not currently under audit by the Internal Revenue Service or other similar state, local, and foreign authorities. All tax years remain subject to examination by U.S. taxing authorities due to the Company’s net operating losses and R&D credit carryforwards. The Company attributes net revenue, costs, and expenses to domestic and foreign components based on the terms of its agreements with its subsidiaries. The Company does not provide for federal and state income taxes on the undistributed earnings of its foreign subsidiaries as such earnings are to be reinvested offshore indefinitely. As a result of the Tax Act, if the Company repatriated these earnings, the tax impact of future distributions of foreign earnings would generally be limited to withholding tax from local jurisdictions, and the resulting income tax liability would be insignificant. On March 27, 2020, the United States enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), as a response to the economic uncertainty resulting from the global COVID-19 pandemic. The CARES Act did not have a material impact on the Company’s condensed consolidated financial statements for the fiscal year ended January 31, 2021. The Company continues to monitor any effects that may result from the CARES Act. |
Redeemable Convertible Preferre
Redeemable Convertible Preferred Stock | 12 Months Ended |
Jan. 31, 2021 | |
Redeemable Convertible Preferred Stock [Abstract] | |
Redeemable Convertible Preferred Stock | Redeemable Convertible Preferred StockUpon the close of the Company’s IPO on June 14, 2019, all shares of convertible preferred stock then outstanding, totaling 131,267,586 shares, were automatically converted into an equivalent number of shares of Class B common stock on a one-to-one basis and the carrying value, totaling $557.9 million, was reclassified into Class B common stock and additional paid-in capital on the consolidated balance sheets. |
Equity Transactions
Equity Transactions | 12 Months Ended |
Jan. 31, 2021 | |
Equity [Abstract] | |
Equity Transactions | Equity Transactions Common Stock In connection with the IPO, on June 14, 2019, the Company filed an Amended and Restated Certificate of Incorporation which authorizes the issuance of 2,000,000,000 shares of Class A common stock with a par value of $0.0005 per share, 300,000,000 shares of Class B common stock with a par value of $0.0005 per share, and 100,000,000 shares of undesignated preferred stock with a par value of $0.0005 per share. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion rights. Each share of Class A common stock is entitled to one vote per share. Each share of Class B common stock is entitled to ten votes per share and is convertible into one share of Class A common stock. Class A and Class B common stockholders are not entitled to receive dividends unless declared by the Company’s board of directors. Claims Settlement |
Leases
Leases | 12 Months Ended |
Jan. 31, 2021 | |
Leases [Abstract] | |
Leases | Leases Operating Leases The Company has entered into non-cancelable operating lease agreements with various expiration dates through fiscal 2027. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore are not factored into the determination of lease payments. For the fiscal year ended January 31, 2021, cash paid for amounts included in the measurement of operating lease liabilities were $11.0 million. Operating lease liabilities arising from obtaining operating right of-use assets was $6.2 million during the fiscal year ended January 31, 2021. As of January 31, 2021, the weighted-average remaining lease term is 4.1 years, and the weighted-average discount rate is 5.9%. The component of lease costs was as follows: January 31, 2021 (in thousands) Lease cost Operating lease cost $ 10,308 Short-term lease cost 1,957 Variable lease cost 3,007 Total lease cost $ 15,272 There was no sublease income for the fiscal year ended January 31, 2021. Total lease expense recognized prior to the adoption of Topic 842 were $10.3 million and $6.9 million for the year ended January 31, 2020 and January 31, 2019, respectively. The maturities of the Company’s non-cancelable operating lease liabilities are as follows: January 31, 2021 (in thousands) Fiscal 2022 $ 10,187 Fiscal 2023 10,879 Fiscal 2024 10,816 Fiscal 2025 9,973 Fiscal 2026 4,050 Thereafter 279 Total operating lease payments 46,184 Less: imputed interest (5,221) Present value of operating lease liabilities $ 40,963 Future minimum payments under non-cancelable operating leases determined using the prior accounting guidance consisted of the following as of January 31, 2020: Real Estate Arrangements (in thousands) Fiscal 2021 $ 9,958 Fiscal 2022 9,869 Fiscal 2023 9,377 Fiscal 2024 9,370 Fiscal 2025 8,441 Thereafter 3,671 Total $ 50,686 |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Jan. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation Stock Incentive Plan In May 2019, the Company’s board of directors adopted, and the stockholders approved the CrowdStrike Holdings, Inc. 2019 Equity Incentive Plan (the “2019 Plan”) with the purpose of granting stock-based awards to employees, directors, officers and consultants, including stock options, restricted stock awards, restricted stock units and performance-based restricted stock units. A total of 8,750,000 shares of Class A common stock were initially available for issuance under the 2019 Plan. The Company’s compensation committee administers the 2019 Plan. The number of shares of the Company’s common stock available for issuance under the 2019 Plan is subject to an annual increase on the first day of each fiscal year beginning on February 1, 2020, equal to the lesser of: (i) two percent (2.0%) of outstanding shares of the Company’s capital stock as of the last day of the immediately preceding fiscal year or (ii) such other amount as the Company’s board of directors may determine. The 2011 Plan was terminated on June 10, 2019, which was the business day prior to the effectiveness of the Company’s registration statement on Form S-1 used in connection with the Company’s IPO, and stock-based awards are no longer granted under the 2011 Plan. Any shares underlying stock options that expire or terminate or are forfeited or repurchased under the 2011 Plan will be automatically transferred to the 2019 Plan. Stock Options The Company records compensation expense for employee stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes option-pricing model with the assumptions included in the table below. The expected term represents the period that the Company’s share-based awards are expected to be outstanding. The expected term assumptions were determined based on the vesting terms, exercise terms, and contractual lives of the options. The expected stock price volatility is based upon comparable public company data. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated option life. The fair value of each option was estimated on the date of grant using the following assumptions during the period: Year Ended January 31, 2021 2020 2019 Expected term (in years) 3.17-6.05 6.05 6.05-7.52 Risk-free interest rate 0.2% - 0.4% 2.0% - 2.4% 2.6% - 3.1% Expected stock price volatility 35.8% - 37.3% 37.7% - 37.9% 37.8% - 38.9% Dividend yield — % — % — % The following table is a summary of stock option activity for the year ended January 31, 2021: Number of Weighted- (in thousands) Options outstanding at January 31, 2020 14,689 $ 5.52 Granted 97 $ 64.64 Exercised (7,752) $ 3.72 Canceled (388) $ 9.66 Options outstanding at January 31, 2021 6,646 $ 8.24 Options vested and expected to vest at January 31, 2021 6,646 $ 8.24 Options exercisable at January 31, 2021 3,377 $ 5.13 Options outstanding include 424,906 options that were unvested as of January 31, 2021. The aggregate intrinsic value of options vested and exercisable was $711.4 million, $469.6 million, and $181.1 million as of January 31, 2021, January 31, 2020, and January 31, 2019, respectively. The weighted-average remaining contractual term of options vested and exercisable was 6.4 years, 6.7 years, and 7.1 years as of January 31, 2021, January 31, 2020, and January 31, 2019, respectively. The weighted-average grant date fair values of all options granted was $66.31, $9.51, and $5.70 per share during the years ended January 31, 2021, January 31, 2020, and January 31, 2019, respectively. The total intrinsic value of all options exercised was $847.5 million, $407.9 million, and $26.9 million during the years ended January 31, 2021, January 31, 2020, and January 31, 2019, respectively. The aggregate intrinsic value of stock options outstanding as of January 31, 2021, January 31, 2020, and January 31, 2019 was $1.4 billion, $816.3 million, and $286.1 million, respectively, which represents the excess of the fair value of the Company’s common stock over the exercise price of the options multiplied by the number of options outstanding. The weighted-average remaining contractual term of stock options outstanding was 7.0 years, 7.4 years, and 7.9 years as of January 31, 2021, January 31, 2020, and January 31, 2019, respectively. Total unrecognized stock-based compensation expense related to unvested options was $24.3 million as of January 31, 2021. This expense is expected to be amortized on a straight-line basis over a weighted-average vesting period of 1.7 years. Total unrecognized stock-based compensation expense related to unvested options was $34.7 million as of January 31, 2020. This expense is expected to be amortized on a straight-line basis over a weighted-average vesting period of 2.1 years. Early Exercise of Employee Options The 2011 Stock Plan allows for the early exercise of stock options for certain individuals as determined by the Board of Directors. The consideration received for an early exercise of an option is a deposit of the exercise price and the related dollar amount is recorded as a liability for early exercise of unvested stock options in the consolidated balance sheets. This liability is reclassified to additional paid-in capital as the awards vest. If a stock option is early exercised, the unvested shares may be repurchased by the Company in case of employment termination or for any reason, including death and disability, at the price paid by the purchaser for such shares. There were no issued shares of common stock related to early exercised stock option during the fiscal year ended January 31, 2021. During the fiscal year ended January 31, 2020, the Company issued 1,037,356 shares of common stock for total proceeds of $10.3 million related to early exercised stock options. As of January 31, 2021, the number of shares of common stock related to early exercised stock options subject to repurchase was 548,028 shares for $5.4 million. As of January 31, 2020, the number of shares of common stock related to early exercised stock options subject to repurchase was 984,417 shares for $8.7 million. Common stock purchased pursuant to an early exercise of stock options is not deemed to be outstanding for accounting purposes until those shares vest. The Company includes unvested shares subject to repurchase in the number of shares outstanding in the consolidated statement of redeemable convertible preferred stock and stockholders’ equity (deficit). Tender Offer Transaction In October 2018, the Company facilitated a tender offer of its common stock. Under the terms of the offer, certain existing Series E Preferred Stock investors purchased an aggregate of 2.4 million shares of common stock from certain eligible employees and directors for $15.64 per share for an aggregate purchase price of $37.6 million. The Company recognized stock-based compensation expense of $10.8 million during the year ended January 31, 2019 in connection with the tender offer, which represented the difference between the purchase price and the fair value of the common stock on the date of the sale. Restricted Stock Units Beginning in September 2018, the Company began issuing RSUs to certain employees. These RSUs include a service-based vesting condition and a performance-based vesting condition. The service-based vesting condition is generally satisfied based on one of three vesting schedules: (i) vesting of one-fourth of the RSUs on the first “Company vest date” (defined as March 20, June 20, September 20, or December 20) on or following the one-year anniversary of the vesting commencement date with the remainder of the RSUs vesting in twelve equal quarterly installments thereafter, subject to continued service, (ii) vesting in sixteen equal quarterly installments beginning on December 20, 2018, subject to continued service, or (iii) vesting in eight equal quarterly installments beginning on December 20, 2022, subject to continued service. The performance-based vesting condition is satisfied on the earlier of (i) a change in control, in which the consideration paid to holders of shares is either cash, publicly traded securities, or a combination thereof, or (ii) the first Company vest date to occur following the expiration of the lock-up period upon an IPO, subject to continued service through such change in control or lock-up expiration, as applicable. None of the RSUs vest unless the performance-based vesting condition is satisfied. Upon the completion of the IPO, the performance-based vesting condition was met and the Company recognized $17.3 million of deferred expense related to RSUs as of that date in its consolidated statement of operations. Upon its IPO, the Company began issuing RSUs to its employees that generally have only service-based vesting condition. The valuation of such RSUs is based solely on the fair value of the Company’s stock price on the date of grant. Expense for RSUs that have a service-based vesting condition only are being amortized on a straight-line basis. Expense for RSUs that have both a service-based and a performance-based vesting condition are being amortized under the accelerated attribution method. Total unrecognized stock-based compensation expense related to unvested RSUs was $393.9 million as of January 31, 2021. This expense is expected to be amortized (subject to acceleration or straight-line basis) over a weighted-average vesting period of 2.6 years. Total unrecognized stock-based compensation expense related to unvested RSUs was $139.4 million as of January 31, 2020. This expense is expected to be amortized on an accelerated attribution method over a weighted-average vesting period of 2.5 years. Performance-based Stock Units Performance-based stock units (“PSUs”) granted under the 2019 Plan are generally subject to both a service-based vesting condition and a performance-based vesting condition. PSUs will vest upon the achievement of specified performance targets and subject to continued service through the applicable vesting dates. The compensation cost is recognized over the requisite service period when it is probable that the performance condition will be satisfied. During fiscal 2021, the Company’s compensation committee granted PSUs for certain employees. The performance goal for certain grants primarily relate to the revenue growth percentage for the fiscal year ended January 31, 2021, with the number of PSUs earned corresponding to the performance period of fiscal 2021, which can range between 0% and 130% of the target number of shares granted depending on the Company’s actual performance. The performance goal for other grants primarily relate to the achievement of product related deliverables or other engineering objectives. Expense for PSUs are being amortized under the accelerated attribution method and may be adjusted over the vesting period based on interim estimates of performance against pre-set objectives. Total unrecognized stock-based compensation expense related to unvested PSUs was $24.8 million as of January 31, 2021. This expense is expected to be amortized over a weighted-average vesting period of 1.3 years. Total unrecognized stock-based compensation expense related to unvested PSUs was $2.7 million as of January 31, 2020. This expense is expected to be amortized over a weighted-average vesting period of 1.6 years. The following table is a summary of RSU and PSU activities for the year ended January 31, 2021: Number of Weighted-Average (in thousands) RSUs and PSUs outstanding at January 31, 2020 6,063 $ 29.82 Granted 4,743 $ 85.13 Released (1,994) $ 34.15 Forfeited (363) $ 43.31 RSUs and PSUs outstanding at January 31, 2021 8,449 $ 59.27 RSUs and PSUs expected to vest at January 31, 2021 8,449 $ 59.27 Employee Stock Purchase Plan In May 2019, the board of directors adopted, and the stockholders approved the CrowdStrike Holdings, Inc. 2019 Employee Stock Purchase Plan (“ESPP”), which became effective on June 10, 2019, which was the business day prior to the effectiveness of the Company’s registration statement on Form S-1 used in connection with the Company’s IPO. A total of 3,500,000 shares of Class A common stock were initially reserved for issuance under the ESPP. The Company’s compensation committee administers the ESPP. The number of shares of common stock available for issuance under the ESPP is subject to an annual increase on the first day of each fiscal year beginning on February 1, 2020, equal to the lesser of: (i) one percent (1%) of outstanding shares of the Company’s capital stock as of the last day of the immediately preceding fiscal year or (ii) such other amount as its board of directors may determine. The ESPP provides for consecutive offering periods that will typically have a duration of approximately 24 months in length and is comprised of four purchase periods of approximately six months in length. The offering periods are scheduled to start on the first trading day on or after June 11 and December 11 of each year. The first offering period commenced on June 11, 2019 and is scheduled to end on the first trading day on or before June 10, 2021. The ESPP provides eligible employees with an opportunity to purchase shares of the Company’s Class A common stock through payroll deductions of up to 15% of their eligible compensation. A participant may purchase a maximum of 2,500 shares of common stock during a purchase period. Amounts deducted and accumulated by the participant are used to purchase shares of common stock at the end of each six-month purchase period. The purchase price of the shares shall be 85% of the lower of the fair market value of the Class A common stock on (i) the first trading day of the applicable offering period and (ii) the last trading day of each purchase period in the related offering period. Participants may end their participation at any time during an offering period and will be paid their accrued contributions that have not yet been used to purchase shares of common stock. Participation ends automatically upon termination of employment. The ESPP allows for up to one increase in contribution during each purchase period. If an employee elects to increase his or her contribution, the Company treats this as an accounting modification. The pre- and post-modification fair values are calculated on the date of the modification, and the incremental expense is then amortized over the remaining purchase period. Incremental expense as a result of such modification was $3.5 million for year ended January 31, 2021. Employee payroll contributions ultimately used to purchase shares are reclassified to stockholders’ equity on the purchase date. ESPP employee payroll contributions accrued of $11.0 million and $6.6 million as of January 31, 2021 and January 31, 2020, respectively, and are included within accrued payroll and benefits in the consolidated balance sheets. The following table summarizes the assumptions used in the Black-Scholes option-pricing model to determine fair value of the Company’s common shares to be issued under the ESPP for the offering periods beginning in June 2019: Year Ended January 31, 2021 2020 Expected term (in years) 0.5-2.0 0.5-2.0 Risk-free interest rate 0.1 - 2.0% 1.6 - 2.2% Expected stock price volatility 30.1 - 54.3% 30.1 - 35.7% Dividend yield — % —% Stock-Based Compensation Expense Stock-based compensation expense included in the consolidated statements of operations is as follows: Year Ended January 31, 2021 2020 2019 (in thousands) Subscription cost of revenue $ 11,705 $ 5,226 $ 689 Professional services cost of revenue 6,005 2,486 205 Sales and marketing 50,557 23,919 5,175 Research and development 40,274 15,403 7,815 General and administrative 41,134 32,906 6,621 Total stock-based compensation expense $ 149,675 $ 79,940 $ 20,505 |
Revenue, Deferred Revenue and R
Revenue, Deferred Revenue and Remaining Performance Obligations | 12 Months Ended |
Jan. 31, 2021 | |
Revenue Recognition and Deferred Revenue [Abstract] | |
Revenue, Deferred Revenue and Remaining Performance Obligations | Revenue, Deferred Revenue and Remaining Performance Obligations The following table summarizes the revenue from contracts by type of customer: Year Ended January 31, 2021 2020 2019 Amount % Revenue Amount % Revenue Amount % Revenue (in thousands, except percentages) Channel Partners $ 655,031 75 % $ 331,279 69 % $ 172,141 69 % Direct Customers 219,407 25 % 150,134 31 % 77,683 31 % Total revenue $ 874,438 100 % $ 481,413 100 % $ 249,824 100 % The Company uses channel partners to complement direct sales and marketing efforts. The partners place an order with the Company after negotiating the order directly with an end customer. The partners negotiate pricing with the end customer and in some rare instances are responsible for certain support levels directly with the end customer. The Company’s contract is with the partner and payment to the Company is not contingent on the receipt of payment from the end customer. The Company recognizes the contractual amount charged to the partners as revenue ratably over the term of the arrangement once access to the Company’s solution has been provided to the end customer. The Company also uses referral partners who refer customers in exchange for a referral fee. The Company negotiates pricing and contracts directly with the end customer. The Company recognizes revenue from the sales to the end customers, ratably over the term of the contract, once access to the Company’s solution has been provided to the end customer. The following table summarizes the revenue by region based on the shipping address of customers who have contracted to use the Company’s platform or service: Year Ended January 31, 2021 2020 2019 Amount % Revenue Amount % Revenue Amount % Revenue (in thousands, except percentages) United States $ 627,402 72 % $ 356,513 74 % $ 192,057 77 % Europe, Middle East, and Africa 123,900 14 % 67,428 14 % 29,721 12 % Asia Pacific 80,185 9 % 37,672 8 % 17,213 7 % Other 42,951 5 % 19,800 4 % 10,833 4 % Total revenue $ 874,438 100 % $ 481,413 100 % $ 249,824 100 % No single country other than the United States represented 10% or more of the Company’s total revenue during the years ended January 31, 2021, January 31, 2020 or January 31, 2019. Contract Balances Contract liabilities consist of deferred revenue and include payments received in advance of performance under the contract. Such amounts are recognized as revenue over the contractual period. The Company recognized revenue of $410.7 million and $217.9 million for the years ended January 31, 2021 and January 31, 2020, respectively, that were included in the corresponding contract liability balance at the beginning of the period. The Company receives payments from customers based upon contractual billing schedules. Accounts receivable are recorded when the right to consideration becomes unconditional. Payment terms on invoiced amounts are typically 30 - 60 days. Contract assets include amounts related to the contractual right to consideration for both completed and partially completed performance obligations that may not have been invoiced Changes in deferred revenue were as follows (in thousands): Carrying Amount Year Ended January 31, 2021 2020 Beginning Balance $ 571,168 $ 290,067 Additions to deferred revenue 1,215,165 762,514 Recognition of deferred revenue (874,438) (481,413) Ending Balance $ 911,895 $ 571,168 Remaining Performance Obligations The Company’s subscription contracts with its customers have a typical term of one Costs to Obtain and Fulfill a Contract The Company capitalizes referral fees paid to partners and sales commission and associated payroll taxes paid to internal sales personnel that are incremental to the acquisition of channel partner and direct customer contracts and would not have occurred absent the customer contract. These costs are recorded as deferred contract acquisition costs, current and deferred contract acquisition costs, noncurrent on the consolidated balance sheets. Sales commissions for renewal of a contract are not considered commensurate with the commissions paid for the acquisition of the initial contract or follow-on upsell given the substantive difference in commission rates in proportion to their respective contract values. Commissions, including referral fees paid to channel partners, earned upon the initial acquisition of a contract or subsequent upsell are amortized over an estimated period of benefit of 4 years while commissions earned for renewal contracts are amortized over the contractual term of the renewals. Sales commissions associated with professional service contracts are amortized ratably over an estimated period of benefit of six months and included in sales and marketing expense in the consolidated statements of operations. In determining the period of benefit for commissions paid for the acquisition of the initial contract, the Company took into consideration the expected subscription term and expected renewals of customer contracts, the historical duration of relationships with customers, customer retention data, and the life of the developed technology. The Company periodically reviews the carrying amount of deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit of these deferred costs. The Company did not recognize any material impairment losses of deferred contract acquisition costs during the year ended January 31, 2021. The following table summarizes the activity of deferred contract acquisition costs: Year Ended January 31, 2021 2020 (in thousands) Beginning balance $ 114,206 $ 38,765 Adjustment due to adoption of ASU 606 — 24,306 Capitalization of contract acquisition costs 150,975 86,594 Amortization of deferred contract acquisition costs (66,425) (35,459) Ending balance $ 198,756 $ 114,206 Deferred contract acquisition costs, current $ 80,850 $ 42,971 Deferred contract acquisition costs, noncurrent 117,906 71,235 Total deferred contract acquisition costs $ 198,756 $ 114,206 |
Commitment and Contingencies
Commitment and Contingencies | 12 Months Ended |
Jan. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Purchase Obligations The Company enters into long-term non-cancelable agreements with providers to purchase data center capacity, such as bandwidth and colocation space, for the Company’s cloud platform. As of January 31, 2021, the Company is committed to spend $96.8 million on such agreements through fiscal 2028. These obligations are included in purchase obligations below. In the normal course of business, the Company enters into non-cancelable purchase commitments with various parties to purchase products and services such as technology, equipment, office renovations, corporate events, and consulting services. A summary of noncancellable purchase obligations in excess of one year as of January 31, 2021 with expected date of payment is as follows: Total (In thousands) Fiscal 2022 $ 94,422 Fiscal 2023 35,133 Fiscal 2024 31,941 Fiscal 2025 5,429 Fiscal 2026 3,012 Thereafter 1,433 Total purchase commitments $ 171,370 Letters of Credit As of January 31, 2021 and January 31, 2020, the Company had an unused standby letter of credit for $0.4 million and $0.6 million, respectively, securing its headquarters facility in Sunnyvale, California. As of January 31, 2021 and January 31, 2020, the Company had an unused standby letter of credit for $1.0 million securing its facility in Austin, Texas. Litigation In November 2016, Fair Isaac Corporation (“FICO”) filed a petition before the Trademark Trial and Appellate Board (“TTAB”) at the U.S. Patent and Trademark Office, seeking cancellation of the Company’s registration of its “CrowdStrike Falcon” trademark, and a notice of opposition of the Company’s trademark application for “Falcon OverWatch.” The Company denies that any of the relief FICO seeks is appropriate, and has itself moved to cancel, or in the alternative amend, FICO’s “Falcon” trademark registrations before the TTAB. The proceedings have been consolidated and are in the discovery phase with trial periods scheduled to begin in October 2021. The Company is vigorously defending the case, but given the early stage, although a loss may reasonably be possible, the Company is unable to predict the likelihood of success of FICO’s claims or estimate a loss or range of loss. As a result, no liability has been recorded as of January 31, 2021 or January 31, 2020. In addition, the Company is involved in various other legal proceedings and subject to claims that arise in the ordinary course of business, including a letter demand from a former employee purportedly on behalf of himself and similarly situated employees alleging various wage and hour violations. The Company is vigorously defending the claim, but given the early stage, although a loss may reasonably be possible, the Company is unable to predict the likelihood of the claim’s success or estimate a loss or range of loss. For any claims for which the Company believes a liability is both probable and reasonably estimable, the Company records a liability in the period for which it makes this determination. There is no pending or threatened legal proceeding to which the Company is a party that, in the Company’s opinion, is likely to have a material adverse effect on its consolidated financial statements; however, the results of litigation and claims are inherently unpredictable. Regardless of the outcome, litigation can have an adverse impact on the Company’s business because of defense and settlement costs, diversion of management resources, and other factors. In addition, the expense of litigation and the timing of this expense from period to period are difficult to estimate, subject to change and could adversely affect the Company’s consolidated financial statements. Warranties and Indemnification The Company’s cloud computing services are typically warranted to perform in a manner consistent with general industry standards that are reasonably applicable and materially in accordance with the Company’s online help documentation under normal use and circumstances. The Company’s arrangements generally include certain provisions for indemnifying customers against liabilities if its products or services infringe a third party’s intellectual property rights. In addition, for its Falcon Complete customers, the Company offers a limited warranty, subject to certain conditions, to cover certain costs incurred by the customer in case of a cybersecurity breach. The Company has entered into an insurance policy to cover its potential liability arising from this limited warranty arrangement. To date, the Company has not incurred any material costs because of such obligations and has not accrued any liabilities related to such obligations in the consolidated financial statements. The Company has also agreed to indemnify its directors and certain executive officers for costs associated with any fees, expenses, judgments, fines and settlement amounts incurred by any of these persons in any action or proceeding to which any of those persons is, or is threatened to be, made a party by reason of the person’s service as a director or officer, including any action by the Company, arising out of that person’s services as the Company’s director or officer or that person’s services provided to any other company or enterprise at the Company’s request. The Company maintains director and officer insurance coverage that would generally enable the Company to recover a portion of any future amounts paid. The Company may also be subject to indemnification obligations by law with respect to the actions of its employees under certain circumstances and in certain jurisdictions. No liabilities have been accrued associated with this indemnification provision as of January 31, 2021 or January 31, 2020 . |
Geographic Information
Geographic Information | 12 Months Ended |
Jan. 31, 2021 | |
Segment Reporting [Abstract] | |
Geographic Information | Geographic Information The Company’s long-lived assets are composed of property and equipment, net, and operating lease right-of-use assets, are summarized by geographic area as follows: January 31, 2021 2020 (in thousands) United States $ 174,889 $ 125,409 International 28,609 10,669 Total property and equipment, net and operating lease right-of-use assets $ 203,498 $ 136,078 No single country other than the United States represented 10% or more of the Company’s total long-lived assets as of January 31, 2021 and January 31, 2020. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Jan. 31, 2021 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions Subscription and Professional Services Revenue from Related Parties During the years ended January 31, 2021, January 31, 2020 and January 31, 2019, certain investors and companies with whom the Company’s Board of Directors are affiliated with, purchased subscriptions and professional services. The Company recorded revenue from subscriptions and professional services from related parties of $4.3 million, $9.0 million, and $6.6 million during the years ended January 31, 2021, January 31, 2020 and January 31, 2019, respectively. Accounts receivable associated with these related parties was $1.3 million, and $0.2 million during the years ended January 31, 2021 and January 31, 2020, respectively. Accounts Payable to Related Parties |
Acquisitions
Acquisitions | 12 Months Ended |
Jan. 31, 2021 | |
Business Combinations [Abstract] | |
Acquisitions | Acquisitions On September 30, 2020, the Company acquired 100% of the equity interest of Preempt Security, Inc. (“Preempt Security”), a privately-held Delaware corporation that developed real-time access control and threat prevention technology (the “Acquisition”). The Acquisition has been accounted for a business combination. The total consideration transferred was $91.2 million which consisted of $87.4 million in cash and $3.8 million representing the fair value of replacement equity awards attributable to pre-acquisition service. The purchase price was allocated, on a preliminary basis, to identified intangible assets, which include developed technology, customer relationships and trade names, of $16.4 million, net tangible assets acquired of $(0.5) million and goodwill of $75.3 million allocated to the Company’s one reporting segment, representing the excess of the purchase price over the fair value of net tangible and intangible assets acquired. The goodwill was primarily attributable to the assembled workforce of Preempt Security, planned growth in new markets and synergies expected to be achieved from the integration of Preempt Security. Goodwill is not deductible for income tax purposes. Per the terms of the merger agreement with Preempt Security, certain unvested stock options held by Preempt Security employees were canceled and exchanged for replacement stock options under the 2019 Plan. Additionally, certain shares of stock issued pursuant to share-based compensation awards to key employees of Preempt Security were canceled and exchanged for replacement RSUs of the Company, which are subject to future vesting. The portion of the fair value of the replacement equity awards associated with pre-acquisition service of Preempt Security’s employees represented a component of the total purchase consideration. The remaining fair value of these issued awards is subject to the recipients’ continued service with the Company and the achievement of specified performance targets, and thus were excluded from the purchase price. The awards which are subject to continued service will be recognized ratably as stock-based compensation expense over the requisite service period. The awards which are based on specified performance targets will be recognized under the accelerated attribution method. The Company is still finalizing the allocation of the purchase price, which may be subject to change as additional information becomes available. The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition: Fair Value Useful Life (in thousands) (in months) Developed technology $ 13,200 60 Customer relationships 3,100 60 Trade names 85 12 Total intangible assets acquired $ 16,385 The Company incurred acquisition expense of $2.5 million for the year ended January 31, 2021. The acquisition costs are recorded in general and administrative expenses on the Company’s consolidated statement of operations. The results of operations of Preempt Security have been included in the Company’s consolidated financial statements from the date of acquisition. The acquisition of Preempt Security did not have a material impact on the Company’s consolidated financial statements, and therefore historical and pro forma disclosures have not been presented. |
Net Loss Per Share Attributable
Net Loss Per Share Attributable to Common Stockholders | 12 Months Ended |
Jan. 31, 2021 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share Attributable to Common Stockholders | Net Loss Per Share Attributable to Common Stockholders The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders: Year Ended January 31, 2021 2020 2019 (in thousands, except per share data) Common Stock Net loss $ — $ — $ (140,077) Net loss attributable to common stockholders — — (140,077) Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted — — 44,863 Net loss per share attributable to common stockholders, basic and diluted $ — $ — $ (3.12) Class A Common Stock Net loss attributable to common stockholders $ (71,226) $ (23,369) $ — Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 167,442 24,405 — Net loss per share attributable to common stockholders, basic and diluted $ (0.43) $ (0.96) $ — Class B Common Stock Net loss attributable to common stockholders $ (21,403) $ (118,410) $ — Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 50,314 123,657 — Net loss per share attributable to common stockholders, basic and diluted $ (0.43) $ (0.96) $ — Since the Company was in a net loss position for all periods presented, basic net loss per share is the same as diluted net loss per share as the inclusion of all potential common shares outstanding would have been antidilutive. The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows: Year Ended January 31, 2021 2020 2019 (in thousands) Shares of common stock issuable upon conversion of redeemable convertible preferred stock — — 131,268 Shares of common stock issuable upon conversion of redeemable convertible preferred stock warrants — — 336 Shares of common stock subject to repurchase from outstanding stock options 548 984 546 RSUs and PSUs subject to future vesting 8,449 6,063 — Shares of common stock issuable from stock options 6,646 14,689 26,535 Share purchase rights under the employee stock purchase plan 872 1,458 — Potential common shares excluded from diluted net loss per share 16,515 23,194 158,685 The above table excludes founder holdbacks related to business combinations. A variable number of shares will be issued upon vesting to settle a fixed monetary amount of $5.3 million which are contingent upon continued employment with the Company for two years. One-half of the founder holdbacks will vest after one year of continued employment, with the remainder vesting monthly during the second year. The share price will be determined based on the Company’s average stock price 5 days prior to each vesting date. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jan. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events On March 5, 2021, the Company announced that it completed its acquisition of Humio, a leading provider of high-performance cloud log management and observability technology. The Company paid approximately $352.0 million in cash (net of cash acquired) and $40.0 million in stock and options, subject to vesting conditions, to acquire Humio. Due to the proximity of the acquisition date to the Company’s filing of its annual report on Form 10-K for the year ended January 31, 2021, the initial accounting for the acquisition of Humio is incomplete, and therefore the Company is unable to disclose certain information required by ASC 805, Business Combinations at this time, including the provisional amounts recognized as of the acquisition date for each major class of assets acquired, liabilities assumed, and goodwill. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). Effective February 1, 2020, the Company adopted the Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) as discussed in Note 2 below. Prior periods were not retrospectively recast, and accordingly, the consolidated balance sheet as of January 31, 2020, and the consolidated statements of operations for the years ended January 31, 2020 and 2019 were prepared using the prior lease accounting standard referred to as ASC Topic 840. Effective February 1, 2019, the Company adopted the Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (“ASC 606”) as discussed in Note 2 below. Prior periods were not retrospectively recast, and accordingly, the consolidated statements of operations for the year ended January 31, 2019 was prepared using the prior revenue recognition standard referred to as ASC 605. |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s consolidated financial statements and accompanying notes. These estimates are based on information available as of the date of the consolidated financial statements. On a regular basis, management evaluates these estimates and assumptions. Actual results may differ from these estimates and such difference could be material to the Company’s consolidated financial statements. Estimates and assumptions used by management include, but are not limited to, revenue recognition, the allowance for doubtful accounts, the carrying value and the useful lives of long-lived assets, the fair values of financial instruments and strategic investments, the period of benefit for deferred contract acquisition costs, the discount rate used for operating leases, the recognition and disclosure of contingent liabilities, income taxes, stock-based compensation, the fair value of assets acquired and liabilities assumed for business combinations, and the accounting for the Senior Notes. |
Concentration of Credit Risk and Geographic Information | Concentration of Credit Risk and Geographic Information The Company generates revenue from the sale of subscriptions to access its cloud platform and professional services. The Company’s sales team, along with its channel partner network of system integrators and value-added resellers (collectively, “channel partners”), sells the Company’s services worldwide to organizations of all sizes. Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents, marketable securities, accounts receivable, and strategic investments. The Company’s cash is placed with high-credit-quality financial institutions and issuers, and at times exceed federally insured limits. The Company limits its concentration of risk in cash equivalents and marketable securities by diversifying its investments among a variety of industries and issuers. The Company has not experienced any credit loss relating to its cash equivalents, marketable securities, and strategic investments. The Company performs periodic credit evaluations of its customers and generally does not require collateral. As of January 31, 2021, the Company did not have any cash equivalents or marketable securities. |
Cash Equivalents and Marketable Securities | Cash Equivalents and Marketable SecuritiesThe Company considers all highly liquid investments with original maturities of three months or less at date of purchase to be cash equivalents. As of January 31, 2021, the Company did not have any cash equivalents or marketable securities. Cash equivalents as of January 31, 2020 consisted of corporate debt securities and money market funds stated at fair value. The Company classifies investments in marketable securities as available-for-sale securities at the time of purchase and re-evaluates the designations as of each balance sheet date. The Company classifies its available-for-sale securities as short-term investments based on their nature and their availability for use in current operations. Available-for-sale securities are carried at fair value with unrealized gains and losses, if any, included in accumulated other comprehensive income (loss). Unrealized losses are recorded in Other income (expense), net, for declines in fair value below the cost of an individual investment that is deemed to be other-than-temporary. The Company did not identify any marketable securities as other-than-temporarily impaired as of January 31, 2020. The Company determines realized gains or losses on the sale of marketable securities on a specific identification method and records such gains or losses in Other income (expense), net. Marketable securities as of January 31, 2020 consisted of corporate debt securities and U.S. treasury securities. |
Strategic Investments | The Company has elected the measurement alternative for the non-marketable equity investments of the Falcon Fund where eligible. Under the measurement alternative, the carrying value of the strategic investments is adjusted to fair value for observable transactions for identical or similar investments of the same issuer or impairment. All gains and losses on strategic investments, realized and unrealized, are recognized in Other income (expense), net. Strategic investments are classified within Level 3 in the fair value hierarchy when a remeasurement occurs based on price changes from observable transactions of identical or similar securities of the same issuer or for impairment. The fair value is estimated based on valuation methods using the observable transaction price at the transaction date and other unobservable inputs including volatility, rights, and obligations of the investments. The Company classifies the investments in Falcon Fund as a non-current asset called Strategic Investments on the consolidated balance sheets as of January 31, 2021. There have been no realized or unrealized gains or losses on the strategic investments during the year ended January 31, 2021. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company’s financial instruments consist of cash equivalents, marketable securities, strategic investments, accounts receivable, accounts payable, accrued expenses, the redeemable convertible preferred stock warrant liability, and the Senior Notes. The carrying values of cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to their short-term nature. The Senior Notes are carried at the initially allocated liability value less unamortized debt discount and issuance costs on the Company’s consolidated balance sheet. The Company discloses the fair value of the Senior Notes at each reporting period for disclosure purposes only. Refer to Note 3, Fair Value Measurements and Marketable Securities, regarding the fair value of the Company’s marketable securities and non-marketable securities and Note 5, Debt, for the fair value of the Company’s Senior Notes. The Company reports the redeemable convertible preferred stock warrant liability at fair value (see Note 3, Fair Value Measurements ). The warrants issued by the Company for redeemable convertible preferred stock in January 2015, December 2016, and March 2017 (see Note 7, Redeemable Convertible Preferred Stock ) have been recorded as a liability based on “Level 3” inputs, which consist of unobservable inputs and reflect management’s estimates of assumptions that market participants would use in pricing the liability. The fair value of the warrants was determined using the Black-Scholes option-pricing model, which is affected by changes in inputs to that model including the Company’s stock price, expected stock price volatility, risk-free rate, and contractual term. Immediately prior to the closing of the IPO on June 14, 2019, the redeemable convertible preferred stock warrants converted into 336,386 warrants to purchase Class B common stock on a one-to-one basis. The redeemable convertible preferred stock warrant liability was reclassified to additional paid-in capital upon the closing of the IPO. |
Accounts Receivable and Allowance for Doubtful Accounts | Accounts Receivable Accounts receivable are recorded at the invoiced amount and are non-interest bearing. Accounts receivable are stated at their net realizable value, net of allowance for doubtful accounts. The Company has a well-established collections history from its customers. Credit is extended to customers based on an evaluation of their financial condition and other factors. The Company generally does not require collateral from its customers; however, the Company may require payment prior to commencing service in certain instances to limit credit risk. The Company regularly reviews the adequacy of the allowance for doubtful accounts by considering various factors including the age of each outstanding invoice, each customer’s expected ability to pay, historical loss rates and expectations of forward-looking loss estimates to determine whether the allowance is |
Software Implementation Costs | Software Implementation CostsThe Company contracts with third party information technology providers for various service arrangements including software, platform, and information technology infrastructure. The Company capitalizes the implementation cost incurred to develop or obtain internal-use software in such arrangements and are recorded as part of property and equipment, net in the consolidated balance sheets. All capitalized implementation costs are amortized over the term of the arrangement which includes reasonably certain renewals. Costs incurred during the preliminary project and post implement stage are expensed as the activities are performed. |
Deferred Offering Costs | Deferred Offering CostsDeferred offering costs consisted of fees and expenses incurred in connection with the sale of the Company's common stock in an IPO, including legal, accounting, printing and other IPO-related costs. Upon the close of the IPO on June 14, 2019, total deferred offering costs of $5.9 million were reclassified to stockholders’ equity and recorded against the proceeds from the offering. |
Property and Equipment, Net | Property and Equipment, Net Property and equipment, net, is stated at historical cost less accumulated depreciation and amortization. Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets as follows: Data center and other computer equipment 3 - 5 years Furniture and equipment 5 years Purchased software 3 - 5 years Capitalized internal-use software and website development 3 years Leasehold improvements Estimated useful life or term of the lease, whichever is shorter Expenditures for routine maintenance and repairs are charged to operating expense as incurred. Major renewals and improvements are capitalized and depreciated over their estimated useful lives. Upon retirement or other disposition of property and equipment, the cost and accumulated depreciation are removed from the accounts, and any gain or loss is recorded in operating expenses in the consolidated statement of operations. |
Capitalized Internal-Use Software | Capitalized Internal-Use Software The Company capitalizes certain development costs incurred in connection with its internal-use software. These capitalized costs are primarily related to the Company’s cloud-delivered solution for next-generation endpoint protection. Costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the development stage, internal and external costs, if direct, are capitalized until the software is substantially complete and ready for its intended use. Capitalization ceases upon completion of all substantial testing. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional functionality. Capitalized costs are recorded as property and equipment, net. Maintenance and training costs are expensed as incurred. Internal-use software is amortized to cost of revenue on a straight-line basis over its estimated useful life of three years. Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. |
Intangible Assets, Net | Intangible Assets, Net Intangible assets, net, consisting of developed technology, customer relationships, and other acquired intangibles, are stated at cost less accumulated amortization. All intangible assets have been determined to have definite lives and are amortized on a straight-line basis over their estimated economic lives, which are generally one |
Deferred Contract Acquisition Costs | Deferred Contract Acquisition CostsPrior to the adoption of ASC606, sales commissions associated with the Falcon platform were amortized over the contract term and sales commissions associated with professional service contracts were expensed as incurred. Under ASC 606, the Company capitalizes contract acquisition costs that are incremental to the acquisition of customer contracts. Contract acquisition costs are accrued and capitalized upon execution of the sales contract by the customer. Sales commissions for renewal of a contract are not considered commensurate with the commissions paid for the acquisition of the initial contract or follow-on upsell given the substantive difference in commission rates in proportion to their respective contract values. Commissions, including referral fees paid to channel partners, earned upon the initial acquisition of a contract or subsequent upsell are amortized over an estimated period of benefit of four years while commissions earned for renewal contracts are amortized over the contractual term of the renewals. Sales commissions associated with professional service contract are amortized ratably over an estimated period of benefit of six months. |
Impairment of Long-Lived Assets | Impairment of Long-Lived AssetsThe Company reviews for impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of the asset (or asset group) may not be recoverable. Events and changes in circumstances considered by the Company in determining whether the carrying value of long-lived assets may not be recoverable, include, but are not limited to: significant changes in performance relative to expected operating results, significant changes in the use of the assets, significant negative industry or economic trends, and changes in the Company’s business strategy. Impairment testing is performed at an asset level that represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities (an “asset group”). An impairment loss would be recognized when estimated future cash flows expected to result from the use of the asset (or asset group) and its eventual disposition is less than its carrying amount. |
Deferred Revenue | Deferred Revenue The deferred revenue balance consists of subscription and professional services which have been invoiced upfront and are recognized as revenue only when the revenue recognition criteria are met. The Company’s subscription contracts are typically invoiced to its customers at the beginning of the term, or in some instances, such as in multi-year arrangements, in installments. Professional services are either invoiced upfront, invoiced in installments, or invoiced as the services are performed. Accordingly, the Company’s deferred revenue balance does not include revenues for future years of multi-year non-cancellable contracts that have not yet been billed. The Company recognizes subscription revenue ratably over the contract term beginning on the commencement date of each contract, the date that services are made available to customers. The Company recognizes professional services revenue as services are delivered. Once services are available to customers, the Company records amounts due in accounts receivable and in deferred revenue. To the extent the Company bills customers in advance of the contract commencement date, the accounts receivable and corresponding deferred revenue amounts are netted to zero on the consolidated balance sheets, unless such amounts have been paid as of the balance sheet date. |
Redeemable Convertible Preferred Stock Warrants | Redeemable Convertible Preferred Stock Warrants Warrants related to the Company’s redeemable convertible preferred stock are classified as liabilities on the Company’s consolidated balance sheets. The warrants are subject to reassessment at each balance sheet date, and any change in fair value is recognized as a component of Other income (expense), net, in the consolidated statements of operations. The Company will continue to adjust the liability for changes in fair value until the earlier of the expiration or exercise of the warrants, or upon their automatic conversion into warrants to purchase common stock in connection with a qualified initial public offering (as defined in Note 7, Redeemable Convertible Preferred Stock ) such that they qualify for equity classification and no further remeasurement is required. Immediately prior to the closing of the IPO on June 14, 2019, the redeemable convertible preferred stock warrants converted into 336,386 warrants to purchase Class B common stock on a one-to-one basis. The redeemable convertible preferred stock warrant liability was reclassified to additional paid-in capital. Within the same month, the Company received notice from the holders of 336,386 warrants as to their intentions to exercise the warrants for shares of common stock of the Company. Such shares were settled via net settlement method, which was elected by the holders to reduce the number of shares issued upon exercise to reflect net settlement of the exercise price, resulting in the issuance of 322,278 shares of the Company’s common stock. |
Revenue Recognition - ASC 606 | Revenue Recognition The Company adopted ASC 606 on February 1, 2019, using the modified retrospective transition method. Under this method, results for reporting periods beginning on February 1, 2019 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with prior accounting under Topic 605. In accordance with ASC 606, revenue is recognized when a customer obtains control of promised services. The amount of revenue recognized reflects the consideration that the Company expects to be entitled to receive in exchange for these services. To achieve the core principle of this standard, the Company applies the following five steps: (1) Identify the contract with a customer The Company considers the terms and conditions of contracts with customers and its customary business practices in identifying contracts under ASC 606. The Company determines it has a contract with a customer when the contract is approved, each party’s rights regarding the services to be transferred can be identified, payment terms for the services can be identified, it has been determined that the customer has the ability and intent to pay, and the contract has commercial substance. The Company applies judgment in determining the customer’s ability and intent to pay, which is based on a variety of factors, including the customer’s historical payment experience or, in the case of a new customer, credit and financial information pertaining to the customer. (2) Identify the performance obligations in the contract Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with other resources that are readily available from the Company or from third parties, and are distinct in the context of the contract, whereby the transfer of the services is separately identifiable from other promises in the contract. The Company’s performance obligations consist of (i) subscriptions and (ii) professional services. (3) Determine the transaction price The transaction price is determined based on the consideration which the Company is expected to be entitled to in exchange for transferring services to the customer. Variable consideration is included in the transaction price if it is probable that a significant future reversal of cumulative revenue under the contract will not occur. None of the Company’s contracts contain a significant financing component. (4) Allocate the transaction price to performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price (“SSP”). (5) Recognize revenue when or as performance obligations are satisfied Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised service to the customer. Revenue is recognized when control of the services is transferred to the customer, in an amount that reflects the consideration expected to be received in exchange for those services. The Company generates all its revenue from contracts with customers. Subscription Revenue The Company’s Falcon Platform technology solutions are subscription, SaaS offerings designed to continuously monitor, share, and mitigate risks from determined attackers. Customers do not have the right to take possession of the cloud-based software platform. Fees are based on several factors, including the solutions subscribed for by the customer and the number of endpoints purchased by the customer. The subscription fees are typically payable within 30 to 60 days after the execution of the arrangement, and thereafter upon renewal or subsequent installment. The Company initially records the subscription fees as deferred revenue and recognizes revenue on a straight-line basis over the term of the agreement. The typical subscription term is one Professional Services Revenue The Company offers several types of professional services including incident response and forensic services, surge forensic and malware analysis, and attribution analysis, which are focused on responding to imminent and direct threats, assessing vulnerabilities, and recommending solutions. These services are distinct from subscription services. Professional services do not result in significant customization of the subscription service. The professional services are available through hourly rate and fixed fee contracts, one-time and ongoing engagements, and retainer-based agreements. Revenue for time and materials arrangements is recognized as services are performed and revenue for fixed fees is recognized on a proportional performance basis as the services are performed. Contracts with Multiple Performance Obligations Some contracts with customers contain multiple promised services consisting of subscription and professional services that are distinct and accounted for separately. The transaction price is allocated to the separate performance obligations on a relative SSP basis. The SSP is the price at which the Company would sell promised subscription or professional services separately to a customer. Judgment is required to determine the SSP for each distinct performance obligation. The Company determines SSP based on its overall pricing objectives, taking into consideration the type of subscription or professional service and the number of endpoints. Variable Consideration Revenue from sales is recorded at the net sales price, which is the transaction price, and includes estimates of variable consideration. The amount of variable consideration that is included in the transaction price is constrained and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue will not occur when the uncertainty is resolved. If subscriptions do not meet certain service level commitments, the Company’s customers are entitled to receive service credits, and in certain cases, refunds, each representing a form of variable consideration. The Company has historically not experienced any significant incidents affecting the defined levels of reliability and performance as required by its subscription contracts. Accordingly, any estimated refunds related to these agreements in the consolidated financial statements is not material during the periods presented. The Company provides rebates and other credits within its contracts with certain resellers, which are estimated based on the most likely amounts expected to be earned or claimed on the related sales transaction. Overall, the transaction price is reduced to reflect the Company’s estimate of the amount of consideration to which it is entitled based on the terms of the contract. Estimated rebates and other credits were not material during the periods presented. |
Research and Development Expense | Research and Development Expense Research and development costs are expensed when incurred, except for certain internal-use software development costs, which may be capitalized as noted above. Research and development expenses consist primarily of personnel and related headcount costs, costs of professional services associated with the ongoing development of the Company’s technology, and allocated overhead. |
Advertising | AdvertisingAll advertising costs are expensed as incurred and are included in sales and marketing expense in the consolidated statements of operations |
Stock-Based Compensation | Stock-Based Compensation The Company accounts for stock-based awards granted to employees and directors based on the awards’ estimated grant date fair value. The Company estimates the fair value of its stock options using the Black-Scholes option-pricing model. The resulting fair value is recognized on a straight-line basis over the period during which the employee or director is required to provide service in exchange for the award, usually the vesting period, which is generally four years. The Company accounts for forfeitures as they occur. Restricted stock units (“RSUs”) granted under the 2011 Plan are subject to a service-based vesting condition and a performance-based vesting condition. The service-based vesting condition is generally satisfied based on one of three vesting schedules: (i) vesting of one-fourth of the RSUs on the first “Company vest date” (defined as March 20, June 20, September 20, or December 20) on or following the one-year anniversary of the vesting commencement date with the remainder of the RSUs vesting in twelve equal quarterly installments thereafter, subject to continued service, (ii) vesting in sixteen equal quarterly installments beginning on December 20, 2018, subject to continued service, or (iii) vesting in eight equal quarterly installments beginning on December 20, 2022, subject to continued service. The performance-based vesting condition is satisfied on the earlier of (i) a change in control, in which the consideration paid to holders of shares is either cash, publicly traded securities, or a combination thereof, or (ii) the first Company vest date to occur following the expiration of the lock-up period upon an IPO, subject to continued service through such change in control or lock-up expiration, as applicable. None of the RSUs vest unless the performance-based vesting condition is satisfied. Upon the completion of the IPO, the performance-based vesting condition was met and the Company recognized $17.3 million of deferred expense related to RSUs as of that date in its consolidated statement of operations. Upon its IPO, the Company began issuing RSUs to its employees and these RSUs generally have only a service condition. The service-based vesting condition is generally with a vesting term of four years. The valuation of such RSUs is based solely on the fair value of the Company’s stock price on the date of grant. Expense for RSUs that have a service-based condition only are being amortized on a straight-line basis. |
Business Combinations | Business Combinations The Company allocates the fair value of purchase consideration to the tangible assets acquired, liabilities assumed, and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the fair values of these identifiable assets and liabilities is recorded as goodwill. Such valuations require management to make significant estimates and assumptions, especially with respect to intangible assets. Significant estimates in valuing certain intangible assets include, but are not limited to, future expected cash flows from acquired users, acquired technology, trade names from a market participant perspective, useful lives and discount rates. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, which is one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded in the consolidated statement of operations. |
Goodwill and Intangible Assets | Goodwill and Intangible Assets The Company evaluates and tests the recoverability of goodwill for impairment at least annually, on January 31, or more frequently if circumstances indicate that goodwill may not be recoverable. The Company performs the impairment testing by first assessing qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of its reporting unit is less than its carrying amount. The Company has one reporting unit. If, after assessing the totality of events or circumstances, the Company determines it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company performs the first step of a two-step analysis by comparing the book value of net assets to the fair value of the reporting unit. To calculate any potential impairment, the Company compares the fair value of a reporting unit with its carrying amount, including goodwill. Any excess of the carrying amount of the reporting unit’s goodwill over its fair value is recognized as an impairment loss, and the carrying value of goodwill is written down. In assessing the qualitative factors, the Company considers the impact of certain key factors including macroeconomic conditions, industry and market considerations, management turnover, changes in regulation, litigation matters, changes in enterprise value, and overall financial performance. No impairment was recorded during the years ended January 31, 2021, January 31, 2020, or January 31, 2019. The change in goodwill balance during the year ended January 31, 2021 was due to the acquisition of Preempt Security, Inc. and changes in foreign currency exchange rates. The change in goodwill balance during the year ended January 31, 2020 was due to the changes in foreign currency exchange rates. See Note 4 and Note 15 to the consolidated financial statements for more information. Acquired intangible assets consisting of identifiable intangible assets are comprised of developed technology, customer relationships, and non-compete agreements resulting from acquisitions. Acquired intangible assets are recorded at fair value on the date of acquisition and amortized over their estimated economic lives following the pattern in which the economic benefits of the assets will be consumed which is on a straight-line basis. Acquired intangible assets are presented net of accumulated amortization on the consolidated balance sheets. The Company reviews the carrying amounts of intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The Company measures the recoverability of intangible assets by comparing the carrying amount of each asset to the future undiscounted cash flows it expects the asset to generate. If the Company considers any of these assets to be impaired, the impairment to be recognized equals the amount by which the carrying value of the asset exceeds its fair value. In addition, the Company periodically evaluates the estimated remaining useful lives of long-lived assets to determine whether events or changes in circumstances warrant a revision to the remaining period of depreciation or amortization. |
Operating Leases | Operating Leases The Company enters into operating lease arrangements for real estate assets related to office space. The Company determines if an arrangement is or contains a lease at inception by evaluating various factors, including whether a vendor’s right to substitute an identified asset is substantive. Lease classification is determined at the lease commencement date, which is the date the leased assets are made available for use. Operating leases are included in “Operating lease right-of-use assets”, “Operating lease liabilities, current”, and “Operating lease liabilities, noncurrent” in the consolidated balance sheets. The Company did not have any financing leases in any of the periods presented. Operating lease right-of-use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Lease payments consist of the fixed payments under the arrangement, less any lease incentives, such as tenant improvement allowances. Variable costs, such as maintenance and utilities based on actual usage, are not included in the measurement of right-to-use assets and lease liabilities but are expensed when the event determining the amount of variable consideration to be paid occurs. As the implicit rate of the leases is not determinable, the Company uses an incremental borrowing rate (“IBR”) based on the information available at the lease commencement date in determining the present value of lease payments. Lease expenses are recognized on a straight-line basis over the lease term. The Company uses the non-cancelable lease term when recognizing the right-of-use (“ROU”) assets and lease liabilities, unless it is reasonably certain that a renewal or termination option will be exercised. The Company accounts for lease components and non-lease components as a single lease component. Leases with a term of twelve months or less are not recognized on the consolidated balance sheets but are recognized as expense on a straight-line basis over the term of the lease. |
Available-for-sale debt securities | Available-for-sale debt securitiesThe Company evaluates investments with unrealized loss positions by assessing if they are related to deterioration in credit risk and whether the Company expects to recover the entire amortized cost basis of the security, the Company’s intent to sell and whether it is more likely than not that the Company will be required to sell the securities before the recovery of its cost basis. Credit-related impairment losses, not to exceed fair value less the amortized cost basis, are recognized through an allowance for credit losses with changes in the allowance for credit losses recorded in Other income (expense), net in the consolidated statements of operations. Impairment that has not been recorded through an allowance for credit losses will be recorded in the consolidated statements of comprehensive income (loss). As of January 31, 2021, there were no marketable securities held by the Company. |
Debt Issuance Costs | Debt Issuance Costs Debt issuance costs incurred in connection with securing the Company’s financing arrangements are generally presented in the consolidated balance sheets as a direct deduction from the carrying amount of the outstanding borrowings, consistent with debt discounts. However, the Company has chosen to present debt issuance costs under “other long-term assets” for its revolving credit facility on the consolidated balance sheets regardless of whether the Company has any outstanding borrowings on the revolving credit facility. Debt issuance costs, net of accumulated amortization, were $4.4 million and $1.2 million as of January 31, 2021 and January 31, 2020, respectively. Debt issuance cost associated with the Senior Notes are recorded as a reduction to the carrying value of the Senior Notes on the consolidated balance sheets. The unamortized issuance costs relating to the Senior Notes were $2.6 million as of January 31, 2021. |
Foreign Currency Translation | Foreign Currency Translation The functional currencies of the Company’s foreign subsidiaries are each country’s local currency. Assets and liabilities of the subsidiaries are translated into U.S. Dollars at exchange rates in effect at the reporting date. Amounts classified in stockholders’ equity (deficit) are translated at historical exchange rates. Revenue and expenses are translated at the average exchange rates during the period. The resulting translation adjustments are recorded in accumulated other comprehensive income (loss). Foreign currency transaction gains or losses, whether realized or unrealized, are reflected in the consolidated statements of operations within Other income (expense), net, and have not been material for all periods presented. |
Income Taxes | Income Taxes The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on differences between the financial statement and tax basis of assets and liabilities and net operating loss and credit carryforwards using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. The Company accounts for unrecognized tax benefits using a more-likely-than-not threshold for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. The Company establishes a liability for tax-related uncertainties based on estimates of whether, and the extent to which, additional taxes will be due. The Company records an income tax liability, if any, for the difference between the benefit recognized and measured and the tax position taken or expected to be taken on the Company’s tax returns. To the extent that the assessment of such tax positions changes, the change in estimate is recorded in the period in which the determination is made. The liability is adjusted considering changing facts and circumstances, such as the outcome of a tax audit. The provision for income taxes includes the impact of liability provisions and changes to the liability that are considered appropriate. As the Company maintains a full valuation allowance against its deferred tax assets in the United States and United Kingdom, the changes resulted in no material tax expense during the years ended January 31, 2021, January 31, 2020, and January 31, 2019. As of January 31, 2021, the Company does not expect that changes in the liability for unrecognized tax benefits for the next twelve months will have a material impact on its consolidated financial statements. |
Sales Taxes | Sales Taxes When sales and other taxes are billed, such amounts are recorded as accounts receivable with a corresponding increase to other current liabilities, respectively. The balances are then removed from the consolidated balance sheets as cash is collected from the customer and as remitted to the respective tax authority. |
Segment and Geographic Information | Segment and Geographic Information The Company’s chief operating decision maker (“CODM”) is its chief executive officer. The CODM reviews financial information presented on a consolidated basis for the purposes of allocating resources and evaluating financial performance. Accordingly, management has determined that the Company operates as one operating and reportable segment. The Company presents financial information about its geographic areas in Note 13 to the consolidated financial statements. |
Net Loss per Share | Net Loss per Share The Company computes basic and diluted net loss per share attributable to common stockholders for Class A and Class B common stock using the two-class method required for participating securities. The Company considers all series of its redeemable convertible preferred stock to be participating securities. Net loss is attributed to Class A and Class B common stock based on their participation rights. Under the two-class method, basic net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share attributable to common stockholders adjusts basic earnings per share for the potentially dilutive impact of outstanding stock options, RSUs, PSUs, ESPP obligations, warrants and redeemable convertible preferred stock. As the Company has reported losses for all periods presented, all potentially dilutive securities are antidilutive and accordingly, basic net loss per share equals diluted net loss per share. |
New Accounting Pronouncements | Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, “Leases (Topic 842),” which requires lessees to generally recognize on the balance sheet operating and financing lease liabilities and corresponding ROU assets, and to recognize on the income statement the expenses in a manner similar to prior practice. The Company adopted Topic 842 using the modified retrospective method on February 1, 2020. The Company elected the following practical expedients: • The package of practical expedients which allows for not reassessing 1) whether existing contracts contain leases, 2) the lease classification of existing leases, and 3) whether existing initial direct costs meet the new definition. • The practical expedient in ASC Subtopic 842-10 to not separate non-lease components from lease components and instead account for each separate lease component and non-lease components associated with that lease component as a single lease component by class of the underlying assets. • Not to recognize right of use assets and lease liabilities for short-term leases, which have a lease term of twelve months or less and do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise. The Company did not elect the hindsight practical expedient. Lease payments consist primarily of the fixed payments under the arrangement, less any lease incentives such as tenant improvement allowance. The Company uses an estimate of its IBR based on the information available at the lease commencement date in determining the present value of lease payments, unless the implicit rate is readily determinable. In determining the appropriate IBR, management considers information including, but not limited to, the Company’s credit rating, the lease term, and the currency in which the arrangement is denominated. For leases which commenced prior to the adoption of Topic 842, the Company used the IBR on January 31, 2020. The adoption of this new standard on February 1, 2020, and the application of the modified retrospective transition approach resulted in the following changes: a. Assets increased by $37.4 million, primarily representing the recognition of ROU asset for operating leases; and b. Liabilities increased by $37.4 million, primarily representing the recognition of lease liabilities for operating leases partially offset by derecognition of liabilities for deferred rent previously designated under ASC Topic 840 In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This ASU requires a financial asset measured at amortized cost basis to be presented at the net amount expected to be collected, with further clarifications made more recently regarding the treatment of accrued interest, transfers between classifications for loans and debt securities, recoveries and the option to irrevocably elect the fair value option (on an instrument-by-instrument basis) for eligible financial assets at amortized costs. For trade receivables, loans, and other financial assets, the Company will be required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses which reflects losses that are probable. Credit losses relating to available-for-sale debt securities are required to be recorded through an allowance for credit losses in the consolidated statements of operation rather than as a reduction in the amortized cost basis of the securities. The Company adopted this guidance on February 1, 2020, which did not have a material effect on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This ASU simplifies the measurement of goodwill by eliminating step two of the two-step impairment test. Step two measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. This ASU requires an entity to compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. Additionally, an entity should consider income tax effects from any tax-deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The Company adopted this guidance on February 1, 2020 which did not have a material effect on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. This ASU modifies the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement. The Company adopted this guidance on February 1, 2020 which did not have a material effect on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force). This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal use software. The Company adopted this guidance on February 1, 2020 which did not have a material effect on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The ASU provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. This ASU may be applied prospectively through December 31, 2022. The Company adopted this guidance on May 1, 2020 which did not have a material effect on its consolidated financial statements. Per the terms of the Company’s secured revolving credit facility (see Note 5), outstanding Eurodollar Loans incur interest at the Eurodollar Rate, which is defined in the Credit Agreement as LIBOR (or any successor thereto), plus a margin. The Company’s lender is currently preparing to use the Secured Overnight Funding Rate if LIBOR becomes unavailable. No amounts were outstanding under the Credit Agreement as of January 31, 2021. Recently Issued Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (the “FASB”) issued ASU 2019-12, Income Taxes (Topic 740), which enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. For public business entities, this ASU is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company does not anticipate that the adoption of this guidance will have a material impact on its consolidated financial statements. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Accounting Policies [Abstract] | |
Schedules of Concentration of Credit Risk | Channel partners or direct customers who represented 10% or more of the Company’s accounts receivable were as follows: January 31, 2021 2020 Channel partner A 6 % 11 % Channel partner B 4 % 10 % Channel partner C (1) 10 % 3 % Customer A (1) 17 % 17 % ______________________________ (1) Channel Partner C and Customer A are controlled by the same Company. Channel partners who represented 10% or more of the Company’s total revenue were as follows: Year Ended January 31, 2021 2020 2019 Channel partner A 8 % 10 % 15 % |
Schedule of Property Plant And Equipment, Useful Life | Property and equipment, net, is stated at historical cost less accumulated depreciation and amortization. Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets as follows: Data center and other computer equipment 3 - 5 years Furniture and equipment 5 years Purchased software 3 - 5 years Capitalized internal-use software and website development 3 years Leasehold improvements Estimated useful life or term of the lease, whichever is shorter |
Fair Value Measurements and M_2
Fair Value Measurements and Marketable Securities (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis are as follows: January 31, 2021 January 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (in thousands) Assets Cash equivalents (1) Money market funds $ — $ — $ — $ — $ 205,379 $ — $ — $ 205,379 Corporate debt securities — — — — — 39,940 — 39,940 Total cash equivalents — — — — 205,379 39,940 — 245,319 Marketable securities Corporate debt securities — — — — — 495,022 — 495,022 U.S. treasury securities — — — — 84,431 — — 84,431 Asset backed securities — — — — — 67,813 — 67,813 Total marketable securities — — — — 84,431 562,835 — 647,266 Total assets $ — $ — $ — $ — $ 289,810 $ 602,775 $ — $ 892,585 ______________________________ (1) Included in “Cash and cash equivalents” on the consolidated balance sheets. |
Marketable Securities | |
Schedule of Strategic Investments | The following summarizes the changes in strategic investments: Year Ended January 31 2021 2020 (in thousands) Total initial cost $ 2,500 $ 1,000 Cumulative gain — — Carrying value $ 2,500 $ 1,000 There was no unrealized gain and loss included as an adjustment to the carrying value related to non-marketable securities as of January 31, 2021. |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following summarizes the changes in the redeemable convertible preferred stock warrant liability, which is classified as a Level 3 instrument: Year Ended January 31 2021 2020 2019 (in thousands) Balance at beginning of period $ — $ 4,537 $ 961 Adjustment resulting from change in fair value recognized in the consolidated statement of operations — 6,022 3,576 Reclassification of redeemable convertible preferred stock warrant liability to additional paid-in capital upon IPO — (10,559) — Balance at end of period $ — $ — $ 4,537 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of Prepaid Expenses and Other Current Assets | Prepaid expenses and other current assets consisted of the following: January 31, 2021 2020 (in thousands) Prepaid expenses $ 23,072 $ 20,390 Prepaid software licenses 20,596 16,645 Prepaid hosting services 5,383 8,056 Other current assets 4,566 6,523 Prepaid expenses and other current assets $ 53,617 $ 51,614 |
Schedule of Property and Equipment, Net | Property and equipment, net consisted of the following: January 31, 2021 2020 (in thousands) Data center and other computer equipment $ 146,220 $ 87,166 Capitalized internal-use software 44,358 30,354 Leasehold improvements 19,733 13,157 Purchased software 3,211 2,604 Furniture and equipment 6,498 4,835 Construction in process 35,528 47,626 255,548 185,742 Less: Accumulated depreciation and amortization (88,534) (49,664) Property and equipment, net $ 167,014 $ 136,078 |
Schedule of Intangible Assets, Net | Total intangible assets, net consisted of the following: January 31, 2021 Weighted-Average Remaining Useful Life Gross Carrying Amount Accumulated Amortization Net Amount (in thousands) (in months) Developed technology $ 14,513 $ 2,193 $ 12,320 56 Customer relationships 3,769 649 3,120 54 Other acquired intangible assets 399 162 237 185 Total $ 18,681 $ 3,004 $ 15,677 January 31, 2020 Weighted-Average Remaining Useful Life Gross Carrying Amount Accumulated Amortization Net Amount (in thousands) (in months) Developed Technology $ 1,238 $ 1,067 $ 171 9 Customer relationships 607 280 327 33 Other acquired intangible assets 121 92 29 9 Total $ 1,966 $ 1,439 $ 527 |
Schedule of Estimated Aggregate Future Expense | The estimated aggregate future amortization expense of intangible assets as of January 31, 2021 is as follows: Total (in thousands) Fiscal 2022 $ 3,462 Fiscal 2023 3,363 Fiscal 2024 3,268 Fiscal 2025 3,268 Fiscal 2026 2,182 Thereafter 134 Total amortization expense $ 15,677 |
Schedule of Goodwill | Goodwill during the year ended January 31, 2021 consisted of the following: Amounts (in thousands) Goodwill as of January 31, 2020 $ 7,722 Goodwill acquired 75,297 Foreign currency translation 547 Goodwill as of January 31, 2021 $ 83,566 |
Schedule of Accrued Expenses | Accrued Expenses Accrued expenses consisted of the following: January 31, 2021 2020 (in thousands) Accrued marketing $ 14,592 $ 1,970 Web hosting services 14,187 16,367 Other accrued expenses 12,059 7,459 Accrued legal and accounting 5,709 1,770 Accrued purchases of property and equipment 4,570 2,789 Accrued expenses $ 51,117 $ 30,355 |
Schedule of Accrued Payroll and Benefits | Accrued Payroll and Benefits Accrued payroll and benefits consisted of the following: January 31, 2021 2020 (in thousands) Accrued commissions $ 32,300 $ 15,399 Accrued payroll and related expenses 16,528 6,680 Accrued bonuses 12,110 8,171 Employee Stock Purchase Plan 10,969 6,560 Accrued payroll and benefits $ 71,907 $ 36,810 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income before Income Tax, Domestic and Foreign | The Company’s geographical breakdown of its loss before provision for income taxes for the years ended January 31, 2021, January 31, 2020, and January 31, 2019 is as follows: Year Ended January 31, 2021 2020 2019 (in thousands) Domestic $ (94,713) $ (149,807) $ (143,308) International 6,844 10,025 4,598 Loss before provision for income taxes $ (87,869) $ (139,782) $ (138,710) |
Schedule of Components of Income Tax Expense (Benefit) | The components of the provision for income taxes as of January 31, 2021, January 31, 2020, and January 31, 2019 are as follows: Year Ended January 31, 2021 2020 2019 (in thousands) Current Federal $ — $ — $ — State 401 104 304 Foreign 5,811 2,574 1,481 Total current 6,212 2,678 1,785 Deferred Federal (136) (362) — State (317) (57) — Foreign (999) (262) (418) Total deferred (1,452) (681) (418) Provision for income taxes $ 4,760 $ 1,997 $ 1,367 |
Schedule of Effective Income Tax Rate Reconciliation | The following table provides a reconciliation between income taxes computed at the federal statutory rate and the provision for income taxes as of January 31, 2021 , January 31, 2020, and January 31, 2019: Year Ended January 31, 2021 2020 2019 (in thousands) Provision for income taxes at statutory rate $ (18,453) $ (29,354) $ (29,129) State income taxes, net of federal benefit — 25 245 Foreign earnings at different rates 1,994 207 97 Research and other credits (9,373) (1,534) (3,769) Stock-based compensation (140,489) (43,477) 2,414 Non-deductible expenses 2,212 1,773 1,833 Change in unrecognized tax benefits — (2,659) — Valuation allowance 168,869 77,016 29,676 Provision for income taxes $ 4,760 $ 1,997 $ 1,367 |
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities as of January 31, 2021 and January 31, 2020 are as follows: Year Ended January 31, 2021 2020 (in thousands) Deferred tax assets Net operating loss carryforwards $ 289,889 $ 166,083 Research and other credit carryforwards 22,778 15,355 Intangible assets — 78 Stock-based compensation 20,154 8,716 Deferred revenue 21,595 21,012 Accrued expenses 7,791 2,555 Operating lease liabilities 10,718 — Capitalized research and development 63,158 — Other, net — 950 Gross deferred assets 436,083 214,749 Less: Valuation allowance (413,828) (207,596) Total deferred tax assets 22,255 7,153 Deferred tax liabilities Property and equipment, net (4,446) (2,534) Capitalized Commissions (2,960) (4,456) Intangible assets (3,697) — Operating right-of-use assets (9,610) — Other, net (302) — Total deferred tax liabilities (21,015) (6,990) Net deferred tax assets (liabilities) $ 1,240 $ 163 |
Schedule of Unrecognized Tax Benefits Roll Forward | The following is a rollforward of the total gross unrecognized tax benefits for the years ended January 31, 2021, January 31, 2020, and January 31, 2019 (in thousands): Balance as of February 1, 2018 $ 8,128 Increases in current period tax positions — Balance as of January 31, 2019 8,128 Reductions in prior period tax positions (2,659) Balance as of January 31, 2020 5,469 Increases in prior period tax positions 6,926 Increase in current period tax positions 12,052 Balance as of January 31, 2021 $ 24,447 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Leases [Abstract] | |
Schedule of Component of Lease Costs | The component of lease costs was as follows: January 31, 2021 (in thousands) Lease cost Operating lease cost $ 10,308 Short-term lease cost 1,957 Variable lease cost 3,007 Total lease cost $ 15,272 |
Schedule of Future Minimum Payments, Leases | The maturities of the Company’s non-cancelable operating lease liabilities are as follows: January 31, 2021 (in thousands) Fiscal 2022 $ 10,187 Fiscal 2023 10,879 Fiscal 2024 10,816 Fiscal 2025 9,973 Fiscal 2026 4,050 Thereafter 279 Total operating lease payments 46,184 Less: imputed interest (5,221) Present value of operating lease liabilities $ 40,963 |
Schedule of Future Minimum Rental Payments for Operating Leases | Future minimum payments under non-cancelable operating leases determined using the prior accounting guidance consisted of the following as of January 31, 2020: Real Estate Arrangements (in thousands) Fiscal 2021 $ 9,958 Fiscal 2022 9,869 Fiscal 2023 9,377 Fiscal 2024 9,370 Fiscal 2025 8,441 Thereafter 3,671 Total $ 50,686 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Payment Arrangement, Option, Activity | The following table is a summary of stock option activity for the year ended January 31, 2021: Number of Weighted- (in thousands) Options outstanding at January 31, 2020 14,689 $ 5.52 Granted 97 $ 64.64 Exercised (7,752) $ 3.72 Canceled (388) $ 9.66 Options outstanding at January 31, 2021 6,646 $ 8.24 Options vested and expected to vest at January 31, 2021 6,646 $ 8.24 Options exercisable at January 31, 2021 3,377 $ 5.13 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity | The following table is a summary of RSU and PSU activities for the year ended January 31, 2021: Number of Weighted-Average (in thousands) RSUs and PSUs outstanding at January 31, 2020 6,063 $ 29.82 Granted 4,743 $ 85.13 Released (1,994) $ 34.15 Forfeited (363) $ 43.31 RSUs and PSUs outstanding at January 31, 2021 8,449 $ 59.27 RSUs and PSUs expected to vest at January 31, 2021 8,449 $ 59.27 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount | Stock-based compensation expense included in the consolidated statements of operations is as follows: Year Ended January 31, 2021 2020 2019 (in thousands) Subscription cost of revenue $ 11,705 $ 5,226 $ 689 Professional services cost of revenue 6,005 2,486 205 Sales and marketing 50,557 23,919 5,175 Research and development 40,274 15,403 7,815 General and administrative 41,134 32,906 6,621 Total stock-based compensation expense $ 149,675 $ 79,940 $ 20,505 |
Employee Stock Purchase Plan | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | Year Ended January 31, 2021 2020 Expected term (in years) 0.5-2.0 0.5-2.0 Risk-free interest rate 0.1 - 2.0% 1.6 - 2.2% Expected stock price volatility 30.1 - 54.3% 30.1 - 35.7% Dividend yield — % —% |
Shares of common stock issuable from stock options | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair value of each option was estimated on the date of grant using the following assumptions during the period: Year Ended January 31, 2021 2020 2019 Expected term (in years) 3.17-6.05 6.05 6.05-7.52 Risk-free interest rate 0.2% - 0.4% 2.0% - 2.4% 2.6% - 3.1% Expected stock price volatility 35.8% - 37.3% 37.7% - 37.9% 37.8% - 38.9% Dividend yield — % — % — % |
Revenue, Deferred Revenue and_2
Revenue, Deferred Revenue and Remaining Performance Obligations (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Revenue Recognition and Deferred Revenue [Abstract] | |
Summary of Revenue From Contracts By Type of Customer | The following table summarizes the revenue from contracts by type of customer: Year Ended January 31, 2021 2020 2019 Amount % Revenue Amount % Revenue Amount % Revenue (in thousands, except percentages) Channel Partners $ 655,031 75 % $ 331,279 69 % $ 172,141 69 % Direct Customers 219,407 25 % 150,134 31 % 77,683 31 % Total revenue $ 874,438 100 % $ 481,413 100 % $ 249,824 100 % |
Disaggregation of Revenue | The following table summarizes the revenue by region based on the shipping address of customers who have contracted to use the Company’s platform or service: Year Ended January 31, 2021 2020 2019 Amount % Revenue Amount % Revenue Amount % Revenue (in thousands, except percentages) United States $ 627,402 72 % $ 356,513 74 % $ 192,057 77 % Europe, Middle East, and Africa 123,900 14 % 67,428 14 % 29,721 12 % Asia Pacific 80,185 9 % 37,672 8 % 17,213 7 % Other 42,951 5 % 19,800 4 % 10,833 4 % Total revenue $ 874,438 100 % $ 481,413 100 % $ 249,824 100 % |
Contract with Customer, Asset and Liability | Changes in deferred revenue were as follows (in thousands): Carrying Amount Year Ended January 31, 2021 2020 Beginning Balance $ 571,168 $ 290,067 Additions to deferred revenue 1,215,165 762,514 Recognition of deferred revenue (874,438) (481,413) Ending Balance $ 911,895 $ 571,168 |
Capitalized Contract Cost | The following table summarizes the activity of deferred contract acquisition costs: Year Ended January 31, 2021 2020 (in thousands) Beginning balance $ 114,206 $ 38,765 Adjustment due to adoption of ASU 606 — 24,306 Capitalization of contract acquisition costs 150,975 86,594 Amortization of deferred contract acquisition costs (66,425) (35,459) Ending balance $ 198,756 $ 114,206 Deferred contract acquisition costs, current $ 80,850 $ 42,971 Deferred contract acquisition costs, noncurrent 117,906 71,235 Total deferred contract acquisition costs $ 198,756 $ 114,206 |
Commitment and Contingencies (T
Commitment and Contingencies (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Recorded Unconditional Purchase Obligations | A summary of noncancellable purchase obligations in excess of one year as of January 31, 2021 with expected date of payment is as follows: Total (In thousands) Fiscal 2022 $ 94,422 Fiscal 2023 35,133 Fiscal 2024 31,941 Fiscal 2025 5,429 Fiscal 2026 3,012 Thereafter 1,433 Total purchase commitments $ 171,370 |
Geographic Information (Tables)
Geographic Information (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Segment Reporting [Abstract] | |
Long-lived Assets by Geographic Areas | The Company’s long-lived assets are composed of property and equipment, net, and operating lease right-of-use assets, are summarized by geographic area as follows: January 31, 2021 2020 (in thousands) United States $ 174,889 $ 125,409 International 28,609 10,669 Total property and equipment, net and operating lease right-of-use assets $ 203,498 $ 136,078 |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition: Fair Value Useful Life (in thousands) (in months) Developed technology $ 13,200 60 Customer relationships 3,100 60 Trade names 85 12 Total intangible assets acquired $ 16,385 |
Net Loss Per Share Attributab_2
Net Loss Per Share Attributable to Common Stockholders (Tables) | 12 Months Ended |
Jan. 31, 2021 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders: Year Ended January 31, 2021 2020 2019 (in thousands, except per share data) Common Stock Net loss $ — $ — $ (140,077) Net loss attributable to common stockholders — — (140,077) Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted — — 44,863 Net loss per share attributable to common stockholders, basic and diluted $ — $ — $ (3.12) Class A Common Stock Net loss attributable to common stockholders $ (71,226) $ (23,369) $ — Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 167,442 24,405 — Net loss per share attributable to common stockholders, basic and diluted $ (0.43) $ (0.96) $ — Class B Common Stock Net loss attributable to common stockholders $ (21,403) $ (118,410) $ — Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 50,314 123,657 — Net loss per share attributable to common stockholders, basic and diluted $ (0.43) $ (0.96) $ — |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows: Year Ended January 31, 2021 2020 2019 (in thousands) Shares of common stock issuable upon conversion of redeemable convertible preferred stock — — 131,268 Shares of common stock issuable upon conversion of redeemable convertible preferred stock warrants — — 336 Shares of common stock subject to repurchase from outstanding stock options 548 984 546 RSUs and PSUs subject to future vesting 8,449 6,063 — Shares of common stock issuable from stock options 6,646 14,689 26,535 Share purchase rights under the employee stock purchase plan 872 1,458 — Potential common shares excluded from diluted net loss per share 16,515 23,194 158,685 |
Description of Business and B_2
Description of Business and Basis of Presentation (Details) $ / shares in Units, $ in Thousands | Jun. 14, 2019USD ($)$ / sharesshares | Jan. 31, 2021USD ($)module | Jan. 31, 2020USD ($) | Jan. 31, 2019USD ($) |
Class of Stock [Line Items] | ||||
Number of cloud modules | module | 19 | |||
Proceeds from the issuance of common stock upon initial public offering, net of underwriting discounts | $ | $ 0 | $ 665,092 | $ 0 | |
Class A Common Stock | IPO | ||||
Class of Stock [Line Items] | ||||
Common stock issued during period (in shares) | shares | 20,700,000 | |||
Share price (in usd per share) | $ / shares | $ 34 | |||
Proceeds from the issuance of common stock upon initial public offering, net of underwriting discounts | $ | $ 659,200 | |||
Underwriter's discounts, commissions and offering expenses | $ | $ 44,800 | |||
Common stock conversion ratio | 1 | |||
Class B Common Stock | IPO | ||||
Class of Stock [Line Items] | ||||
Number of shares issued in conversion of common stock (in shares) | shares | 131,267,586 | |||
Common stock conversion ratio | 1 | |||
Warrants issued (in shares) | shares | 336,386 | |||
Warrants conversion ratio | 1 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Concentration of Credit Risk (Details) | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Channel partner A | Customer Concentration Risk | Accounts Receivable | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 6.00% | 11.00% | |
Channel partner A | Distributor Concentration Risk | Revenue Benchmark | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 8.00% | 10.00% | 15.00% |
Channel partner B | Customer Concentration Risk | Accounts Receivable | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 4.00% | 10.00% | |
Channel Partner C | Customer Concentration Risk | Accounts Receivable | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 10.00% | 3.00% | |
Customer A | Customer Concentration Risk | Accounts Receivable | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 17.00% | 17.00% |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details) | Jun. 14, 2019USD ($)shares | Jul. 31, 2019USD ($) | Sep. 30, 2018trancheinstallment | Jan. 31, 2021USD ($)installmentsegmentreportingUnit | Jan. 31, 2020USD ($) | Jan. 31, 2019USD ($) |
Concentration Risk [Line Items] | ||||||
Capital contributions | $ 1,500,000 | $ 1,000,000 | $ 0 | |||
Allowance for doubtful accounts | 1,200,000 | 1,100,000 | ||||
Capitalized software implementation costs | $ 300,000 | |||||
Commission amortization period | 4 years | |||||
Professional service contract amortization period | 6 months | |||||
Capitalization of contract acquisition costs | $ 150,975,000 | 86,594,000 | ||||
Contract acquisition cost amortization expense | 66,400,000 | 35,500,000 | 28,600,000 | |||
Impairment losses | 0 | 0 | 0 | |||
Advertising expense | $ 27,900,000 | 8,000,000 | 3,100,000 | |||
Vesting period | 4 years | |||||
Number of reporting units | reportingUnit | 1 | |||||
Goodwill impairment loss | $ 0 | 0 | 0 | |||
Deferred financing costs, net | 4,400,000 | 1,200,000 | ||||
Amortization of debt issuance costs | 800,000 | 400,000 | 100,000 | |||
Provision for income taxes | $ 4,760,000 | 1,997,000 | 1,367,000 | |||
Number of reportable segments | segment | 1 | |||||
Number of operating segments | segment | 1 | |||||
Operating lease right-of-use assets | $ 36,484,000 | 0 | ||||
Present value of operating lease liabilities | 40,963,000 | |||||
Cumulative Effect, Period of Adoption, Adjustment | ||||||
Concentration Risk [Line Items] | ||||||
Operating lease right-of-use assets | 37,400,000 | |||||
Present value of operating lease liabilities | 37,400,000 | |||||
Senior Notes | ||||||
Concentration Risk [Line Items] | ||||||
Unamortized issuance costs | 2,600,000 | |||||
Reclassification to Stockholder's Equity | ||||||
Concentration Risk [Line Items] | ||||||
Deferred offering costs | $ 5,900,000 | |||||
RSUs | ||||||
Concentration Risk [Line Items] | ||||||
Vesting period | 4 years | |||||
Number of vesting schedules | 3 | 3 | ||||
Performance Based RSUs | ||||||
Concentration Risk [Line Items] | ||||||
Deferred compensation expense | $ 17,300,000 | |||||
PSUs | ||||||
Concentration Risk [Line Items] | ||||||
Vesting period | 4 years | |||||
Restatement Adjustment | ||||||
Concentration Risk [Line Items] | ||||||
Provision for income taxes | $ 0 | $ 0 | $ 0 | |||
Tranche One | RSUs | ||||||
Concentration Risk [Line Items] | ||||||
Vesting percentage | 25.00% | |||||
Number of quarterly installments | installment | 12 | 12 | ||||
Tranche Two | RSUs | ||||||
Concentration Risk [Line Items] | ||||||
Number of quarterly installments | installment | 16 | 16 | ||||
Tranche Three | RSUs | ||||||
Concentration Risk [Line Items] | ||||||
Number of quarterly installments | installment | 8 | 8 | ||||
Capitalized internal-use software and website development | ||||||
Concentration Risk [Line Items] | ||||||
Useful life | 3 years | |||||
Crowdstrike Falcon Fund Llc | ||||||
Concentration Risk [Line Items] | ||||||
Sharing percentage | 50.00% | |||||
Duration of fund | 10 years | |||||
Additional extendable duration of fund | 3 years | |||||
Capital contributions | $ 1,300,000 | |||||
Crowdstrike Falcon Fund Llc | Accel | ||||||
Concentration Risk [Line Items] | ||||||
Sharing percentage | 50.00% | |||||
Capital contributions | $ 1,300,000 | |||||
Class B Common Stock | ||||||
Concentration Risk [Line Items] | ||||||
Shares issued upon conversion of warrants (in shares) | shares | 336,386 | |||||
Shares issued (in shares) | shares | 322,278 | |||||
Class B Common Stock | IPO | ||||||
Concentration Risk [Line Items] | ||||||
Warrants issued (in shares) | shares | 336,386 | |||||
Warrants conversion ratio | 1 | |||||
Minimum | ||||||
Concentration Risk [Line Items] | ||||||
Useful life | 1 year | |||||
Subscription fees payable term | 30 days | |||||
Subscription term | 1 year | |||||
Minimum | Accel | ||||||
Concentration Risk [Line Items] | ||||||
Percentage Of capital stock held | 5.00% | |||||
Maximum | ||||||
Concentration Risk [Line Items] | ||||||
Useful life | 5 years | |||||
Subscription fees payable term | 60 days | |||||
Subscription term | 3 years | |||||
Maximum | Crowdstrike Falcon Fund Llc | ||||||
Concentration Risk [Line Items] | ||||||
Amount agreed to commit | $ 10,000,000 | |||||
Maximum | Crowdstrike Falcon Fund Llc | Accel | ||||||
Concentration Risk [Line Items] | ||||||
Amount agreed to commit | $ 10,000,000 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Property and Equipment, Net (Details) | 12 Months Ended |
Jan. 31, 2021 | |
Furniture and equipment | |
Property, Plant and Equipment [Line Items] | |
Useful life | 5 years |
Capitalized internal-use software and website development | |
Property, Plant and Equipment [Line Items] | |
Useful life | 3 years |
Minimum | Data center and other computer equipment | |
Property, Plant and Equipment [Line Items] | |
Useful life | 3 years |
Minimum | Purchased software | |
Property, Plant and Equipment [Line Items] | |
Useful life | 3 years |
Maximum | Data center and other computer equipment | |
Property, Plant and Equipment [Line Items] | |
Useful life | 5 years |
Maximum | Purchased software | |
Property, Plant and Equipment [Line Items] | |
Useful life | 5 years |
Fair Value Measurements and M_3
Fair Value Measurements and Marketable Securities - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | $ 0 | $ 647,266 |
Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 245,319 |
Marketable securities | 0 | 647,266 |
Total assets | 0 | 892,585 |
Money market funds | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 205,379 |
Corporate debt securities | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 39,940 |
Marketable securities | 0 | 495,022 |
U.S. treasury securities | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 84,431 |
Asset backed securities | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 67,813 |
Level 1 | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 205,379 |
Marketable securities | 0 | 84,431 |
Total assets | 0 | 289,810 |
Level 1 | Money market funds | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 205,379 |
Level 1 | Corporate debt securities | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Marketable securities | 0 | 0 |
Level 1 | U.S. treasury securities | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 84,431 |
Level 1 | Asset backed securities | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 0 |
Level 2 | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 39,940 |
Marketable securities | 0 | 562,835 |
Total assets | 0 | 602,775 |
Level 2 | Money market funds | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Level 2 | Corporate debt securities | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 39,940 |
Marketable securities | 0 | 495,022 |
Level 2 | U.S. treasury securities | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 0 |
Level 2 | Asset backed securities | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 67,813 |
Level 3 | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Marketable securities | 0 | 0 |
Total assets | 0 | 0 |
Level 3 | Money market funds | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Level 3 | Corporate debt securities | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Marketable securities | 0 | 0 |
Level 3 | U.S. treasury securities | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 0 |
Level 3 | Asset backed securities | Fair Value, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | $ 0 | $ 0 |
Fair Value Measurements and M_4
Fair Value Measurements and Marketable Securities - Strategic Investments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2021 | Jan. 31, 2020 | |
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items] | ||
Total initial cost | $ 2,500 | $ 1,000 |
Carrying value | 2,500 | 1,000 |
Equity Method Investments | ||
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items] | ||
Cumulative gain | $ 0 | $ 0 |
Fair Value Measurements and M_5
Fair Value Measurements and Marketable Securities - Unobservable Input Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Adjustment resulting from change in fair value recognized in the consolidated statement of operations | $ 6,000 | $ 3,600 | |
Reclassification of redeemable convertible preferred stock warrant liability to additional paid-in capital upon IPO | (10,559) | ||
Shares of common stock issuable upon conversion of redeemable convertible preferred stock warrants | Level 3 | |||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||
Fair value, measurement with unobservable inputs reconciliation, recurring basis, beginning balance | $ 0 | 4,537 | 961 |
Adjustment resulting from change in fair value recognized in the consolidated statement of operations | 0 | 6,022 | 3,576 |
Reclassification of redeemable convertible preferred stock warrant liability to additional paid-in capital upon IPO | 0 | (10,559) | 0 |
Fair value, measurement with unobservable inputs reconciliation, recurring basis,, ending balance | $ 0 | $ 0 | $ 4,537 |
Fair Value Measurements and M_6
Fair Value Measurements and Marketable Securities (Details) - USD ($) $ in Millions | 12 Months Ended | |
Jan. 31, 2020 | Jan. 31, 2019 | |
Fair Value Disclosures [Abstract] | ||
Adjustment resulting from change in fair value recognized in the consolidated statement of operations | $ 6 | $ 3.6 |
Balance Sheet Components - Prep
Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Prepaid expenses | $ 23,072 | $ 20,390 |
Prepaid software licenses | 20,596 | 16,645 |
Prepaid hosting services | 5,383 | 8,056 |
Other current assets | 4,566 | 6,523 |
Prepaid expenses and other current assets | $ 53,617 | $ 51,614 |
Balance Sheet Components - Prop
Balance Sheet Components - Property and Equipment (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 255,548 | $ 185,742 |
Less: Accumulated depreciation and amortization | (88,534) | (49,664) |
Property and equipment, net | 167,014 | 136,078 |
Data center and other computer equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 146,220 | 87,166 |
Capitalized internal-use software and website development | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 44,358 | 30,354 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 19,733 | 13,157 |
Purchased software | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 3,211 | 2,604 |
Furniture and equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 6,498 | 4,835 |
Construction in process | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 35,528 | $ 47,626 |
Balance Sheet Components (Detai
Balance Sheet Components (Details) - USD ($) | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation and amortization expense | $ 38,700,000 | $ 23,000,000 | $ 14,800,000 |
Capitalized computer software impairments | 0 | 0 | 0 |
Capitalized computer software additions | 14,000,000 | 8,100,000 | 6,800,000 |
Capitalized computer software amortization | 7,900,000 | 6,200,000 | 5,200,000 |
Capitalized computer software net | 19,500,000 | 13,400,000 | |
Amortization | 1,400,000 | 500,000 | $ 600,000 |
Other Current Liabilities | |||
Property, Plant and Equipment [Line Items] | |||
Deferred payroll taxes owed | 5,100,000 | ||
Other Noncurrent Liabilities | |||
Property, Plant and Equipment [Line Items] | |||
Deferred payroll taxes owed | $ 5,100,000 | ||
Developed technology | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 5 years | ||
Customer relationships | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 5 years | ||
Other acquired intangible assets | |||
Property, Plant and Equipment [Line Items] | |||
Useful life | 1 year | ||
Data center and other computer equipment | |||
Property, Plant and Equipment [Line Items] | |||
Equipment additions | $ 30,000,000 | $ 44,900,000 |
Balance Sheet Components - Inta
Balance Sheet Components - Intangible Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Jan. 31, 2021 | Jan. 31, 2020 |
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Amount | $ 18,681 | $ 1,966 | |
Accumulated Amortization | 3,004 | 1,439 | |
Net Amount | 15,677 | 527 | |
Developed technology | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Amount | 14,513 | 1,238 | |
Accumulated Amortization | 2,193 | 1,067 | |
Net Amount | $ 12,320 | $ 171 | |
Weighted-Average Remaining Useful Life | 60 months | 56 months | 9 months |
Customer relationships | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Amount | $ 3,769 | $ 607 | |
Accumulated Amortization | 649 | 280 | |
Net Amount | $ 3,120 | $ 327 | |
Weighted-Average Remaining Useful Life | 60 months | 54 months | 33 months |
Other acquired intangible assets | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Amount | $ 399 | $ 121 | |
Accumulated Amortization | 162 | 92 | |
Net Amount | $ 237 | $ 29 | |
Weighted-Average Remaining Useful Life | 185 months | 9 months |
Balance Sheet Components - Esti
Balance Sheet Components - Estimated Aggregate Future Expense (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Fiscal 2022 | $ 3,462 | |
Fiscal 2023 | 3,363 | |
Fiscal 2024 | 3,268 | |
Fiscal 2025 | 3,268 | |
Fiscal 2026 | 2,182 | |
Thereafter | 134 | |
Net Amount | $ 15,677 | $ 527 |
Balance Sheet Components - Good
Balance Sheet Components - Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2021 | Jan. 31, 2021 | |
Goodwill [Roll Forward] | ||
Goodwill as of January 31, 2020 | $ 7,722 | |
Goodwill acquired | 75,297 | |
Foreign currency translation | 547 | |
Goodwill | $ 7,722 | $ 83,566 |
Balance Sheet Components - Accr
Balance Sheet Components - Accrued Expenses (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Accrued marketing | $ 14,592 | $ 1,970 |
Web hosting services | 14,187 | 16,367 |
Other accrued expenses | 12,059 | 7,459 |
Accrued legal and accounting | 5,709 | 1,770 |
Accrued purchases of property and equipment | 4,570 | 2,789 |
Accrued expenses | $ 51,117 | $ 30,355 |
Balance Sheet Components - Ac_2
Balance Sheet Components - Accrued Payroll and Benefits (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Accrued commissions | $ 32,300 | $ 15,399 |
Accrued payroll and related expenses | 16,528 | 6,680 |
Accrued bonuses | 12,110 | 8,171 |
Employee Stock Purchase Plan | 10,969 | 6,560 |
Accrued payroll and benefits | $ 71,907 | $ 36,810 |
Debt - Narrative (Details)
Debt - Narrative (Details) | Jan. 20, 2021USD ($) | Jan. 04, 2021USD ($) | Apr. 30, 2022USD ($) | Jan. 31, 2021USD ($) | Jan. 31, 2020USD ($) | Jan. 31, 2019USD ($) | Apr. 30, 2019USD ($) |
Line of Credit Facility [Line Items] | |||||||
Proceeds from issuance of Senior Notes, net of debt financing costs | $ 739,569,000 | $ 0 | $ 0 | ||||
Debt financing costs, accrued but not paid | 1,581,000 | 0 | 0 | ||||
Interest expense | 1,559,000 | 442,000 | 428,000 | ||||
Amortization of debt issuance costs | 800,000 | $ 400,000 | $ 100,000 | ||||
Senior Notes | |||||||
Line of Credit Facility [Line Items] | |||||||
Unamortized issuance costs | $ 2,600,000 | ||||||
A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Minimum consolidated interest coverage ratio | 3 | ||||||
Maximum senior secured leverage ratio | 3 | ||||||
Maximum total leverage ratio | 5.50 | ||||||
Maximum total leverage ratio, stepped down | 3.50 | ||||||
3.00% Senior Notes | Senior Notes | |||||||
Line of Credit Facility [Line Items] | |||||||
Aggregate principal amount | $ 750,000,000 | ||||||
Stated interest rate | 3.00% | ||||||
Percentage of original principal amount | 40.00% | ||||||
Proceeds from issuance of Senior Notes, net of debt financing costs | $ 739,600,000 | ||||||
Underwriting commissions | 9,400,000 | ||||||
Payments of financing costs | 1,000,000 | ||||||
Unamortized issuance costs | $ 2,600,000 | ||||||
Interest expense | $ 700,000 | ||||||
Amortization of debt issuance costs | 100,000 | ||||||
Debt instrument, fair value | 760,200,000 | ||||||
3.00% Senior Notes | Senior Notes | Forecast | |||||||
Line of Credit Facility [Line Items] | |||||||
Debt financing costs, accrued but not paid | $ 1,600,000 | ||||||
3.00% Senior Notes | Senior Notes | Prior to February 15, 2024 | Plus "Make Whole" Premium | |||||||
Line of Credit Facility [Line Items] | |||||||
Redemption percentage | 100.00% | ||||||
3.00% Senior Notes | Senior Notes | Prior to February 15, 2024 | Proceeds From Equity Offering, Provided Principal Amount of Redemptions Does Not Exceed 40% | |||||||
Line of Credit Facility [Line Items] | |||||||
Redemption percentage | 103.00% | ||||||
3.00% Senior Notes | Senior Notes | After February 15, 2024 | |||||||
Line of Credit Facility [Line Items] | |||||||
Redemption percentage | 101.50% | ||||||
3.00% Senior Notes | Senior Notes | After February 15, 2025 | |||||||
Line of Credit Facility [Line Items] | |||||||
Redemption percentage | 100.75% | ||||||
3.00% Senior Notes | Senior Notes | After February 15, 2026 | |||||||
Line of Credit Facility [Line Items] | |||||||
Redemption percentage | 100.00% | ||||||
3.00% Senior Notes | Senior Notes | Change of control event | |||||||
Line of Credit Facility [Line Items] | |||||||
Redemption percentage | 101.00% | ||||||
Minimum | A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Commitment fee percentage | 0.15% | ||||||
Maximum | A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Commitment fee percentage | 0.25% | ||||||
Revolving Credit Facility | |||||||
Line of Credit Facility [Line Items] | |||||||
Revolving line of credit | $ 150,000,000 | ||||||
Line of credit amount outstanding | $ 0 | ||||||
Revolving Credit Facility | A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Revolving line of credit | $ 750,000,000 | ||||||
Incremental borrowing capacity | 250,000,000 | ||||||
Letter of Credit | |||||||
Line of Credit Facility [Line Items] | |||||||
Revolving line of credit | 10,000,000 | ||||||
Letter of Credit | A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Revolving line of credit | 100,000,000 | ||||||
Swingline Facility | |||||||
Line of Credit Facility [Line Items] | |||||||
Revolving line of credit | $ 10,000,000 | ||||||
Swingline Facility | A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Revolving line of credit | $ 50,000,000 | ||||||
Eurodollar Loans | London Interbank Offered Rate (LIBOR) | A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Interest rate | 0.00% | ||||||
Eurodollar Loans | London Interbank Offered Rate (LIBOR) | Minimum | A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Interest rate | 1.50% | ||||||
Eurodollar Loans | London Interbank Offered Rate (LIBOR) | Maximum | A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Interest rate | 2.00% | ||||||
Alternate Base Rate Loans | Fed Funds Effective Rate Overnight Index Swap Rate | A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Interest rate | 0.005% | ||||||
Alternate Base Rate Loans | Eurodollar | A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Interest rate | 0.01% | ||||||
Alternate Base Rate Loans | Eurodollar | Minimum | A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Interest rate | (0.25%) | ||||||
Alternate Base Rate Loans | Eurodollar | Maximum | A&R Credit Agreement | |||||||
Line of Credit Facility [Line Items] | |||||||
Interest rate | 0.25% |
Income Taxes - Geographical Bre
Income Taxes - Geographical Breakdown (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Domestic | $ (94,713) | $ (149,807) | $ (143,308) |
International | 6,844 | 10,025 | 4,598 |
Loss before provision for income taxes | $ (87,869) | $ (139,782) | $ (138,710) |
Income Taxes - Components of th
Income Taxes - Components of the Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Federal | $ 0 | $ 0 | $ 0 |
State | 401 | 104 | 304 |
Foreign | 5,811 | 2,574 | 1,481 |
Total current | 6,212 | 2,678 | 1,785 |
Federal | (136) | (362) | 0 |
State | (317) | (57) | 0 |
Foreign | (999) | (262) | (418) |
Total deferred | (1,452) | (681) | (418) |
Provision for income taxes | $ 4,760 | $ 1,997 | $ 1,367 |
Income Taxes - Income Tax Recon
Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Provision for income taxes at statutory rate | $ (18,453) | $ (29,354) | $ (29,129) |
State income taxes, net of federal benefit | 0 | 25 | 245 |
Foreign earnings at different rates | 1,994 | 207 | 97 |
Research and other credits | (9,373) | (1,534) | (3,769) |
Stock-based compensation | (140,489) | (43,477) | 2,414 |
Non-deductible expenses | 2,212 | 1,773 | 1,833 |
Change in unrecognized tax benefits | 0 | (2,659) | 0 |
Valuation allowance | 168,869 | 77,016 | 29,676 |
Provision for income taxes | $ 4,760 | $ 1,997 | $ 1,367 |
Income Taxes - Deferred Tax Ass
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 |
Deferred tax assets | |||
Net operating loss carryforwards | $ 289,889 | $ 166,083 | |
Research and other credit carryforwards | 22,778 | 15,355 | |
Intangible assets | 0 | 78 | |
Stock-based compensation | 20,154 | 8,716 | |
Deferred revenue | 21,595 | 21,012 | |
Accrued expenses | 7,791 | 2,555 | |
Operating lease liabilities | 10,718 | 0 | |
Capitalized research and development | 63,158 | 0 | |
Other, net | 0 | 950 | |
Gross deferred assets | 436,083 | 214,749 | |
Less: Valuation allowance | (413,828) | (207,596) | $ (120,400) |
Total deferred tax assets | 22,255 | 7,153 | |
Deferred tax liabilities | |||
Property and equipment, net | (4,446) | (2,534) | |
Capitalized Commissions | (2,960) | (4,456) | |
Intangible assets | (3,697) | 0 | |
Operating right-of-use assets | (9,610) | 0 | |
Other, net | (302) | 0 | |
Total deferred tax liabilities | (21,015) | (6,990) | |
Net deferred tax assets (liabilities) | $ 1,240 | $ 163 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 12 Months Ended | |||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Operating Loss Carryforwards [Line Items] | ||||
Valuation allowance increase (decrease), amount | $ 206,200,000 | $ 87,200,000 | $ 36,000,000 | |
Deferred tax assets, valuation allowance | 413,828,000 | 207,596,000 | 120,400,000 | |
Research and other credit carryforwards | 22,778,000 | 15,355,000 | ||
Unrecognized tax benefits | 24,447,000 | 5,469,000 | $ 8,128,000 | $ 8,128,000 |
Unrecognized tax benefits that would impact effective tax rate | 600,000 | |||
Interest and penalties related to unrecognized tax benefits | 0 | $ 0 | ||
Domestic Tax Authority | Federal | ||||
Operating Loss Carryforwards [Line Items] | ||||
Operating loss carryforwards | 1,100,000,000 | |||
Research and other credit carryforwards | 38,700,000 | |||
State and Local Jurisdiction | California | ||||
Operating Loss Carryforwards [Line Items] | ||||
Operating loss carryforwards | 122,600,000 | |||
Research and other credit carryforwards | 8,700,000 | |||
State and Local Jurisdiction | Other States | ||||
Operating Loss Carryforwards [Line Items] | ||||
Operating loss carryforwards | 660,700,000 | |||
Foreign Tax Authority | United Kingdom | ||||
Operating Loss Carryforwards [Line Items] | ||||
Operating loss carryforwards | $ 50,200,000 |
Income Taxes - Unrecognized Tax
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits, beginning balance | $ 5,469 | $ 8,128 | $ 8,128 |
Increases in current period tax positions | 12,052 | 0 | |
Reductions in prior period tax positions | (2,659) | ||
Increases in prior period tax positions | 6,926 | ||
Unrecognized tax benefits, ending balance | $ 24,447 | $ 5,469 | $ 8,128 |
Redeemable Convertible Prefer_2
Redeemable Convertible Preferred Stock (Details) $ in Thousands | Jun. 14, 2019USD ($)shares | Jan. 31, 2021USD ($) | Jan. 31, 2020USD ($) | Jan. 31, 2019USD ($) |
Temporary Equity [Line Items] | ||||
Conversion of redeemable convertible preferred stock to common stock | $ 0 | $ 557,912 | $ 0 | |
Shares of common stock issuable upon conversion of redeemable convertible preferred stock | IPO | ||||
Temporary Equity [Line Items] | ||||
Conversion of stock, shares converted | shares | 131,267,586 | |||
Conversion of stock, conversion ratio | 1 | |||
Conversion of redeemable convertible preferred stock to common stock | $ 557,900 |
Equity Transactions (Details)
Equity Transactions (Details) $ / shares in Units, $ in Millions | Jun. 14, 2019vote$ / sharesshares | Dec. 31, 2019USD ($) | Jan. 31, 2021$ / sharesshares | Jan. 31, 2020$ / sharesshares |
Class of Stock [Line Items] | ||||
Preferred stock, shares authorized (in shares) | shares | 100,000,000 | 100,000,000 | ||
Preferred stock par value (in usd per share) | $ / shares | $ 0.0005 | $ 0.0005 | ||
Payments for legal settlements | $ | $ 2.3 | |||
IPO | ||||
Class of Stock [Line Items] | ||||
Preferred stock, shares authorized (in shares) | shares | 100,000,000 | |||
Preferred stock par value (in usd per share) | $ / shares | $ 0.0005 | |||
Class A Common Stock | ||||
Class of Stock [Line Items] | ||||
Common stock shares authorized (in shares) | shares | 2,000,000,000 | 2,000,000,000 | ||
Common stock par value (in usd per share) | $ / shares | $ 0.0005 | $ 0.0005 | ||
Class A Common Stock | IPO | ||||
Class of Stock [Line Items] | ||||
Common stock shares authorized (in shares) | shares | 2,000,000,000 | |||
Common stock par value (in usd per share) | $ / shares | $ 0.0005 | |||
Number of votes per share | vote | 1 | |||
Common stock conversion ratio | 1 | |||
Class B Common Stock | ||||
Class of Stock [Line Items] | ||||
Common stock shares authorized (in shares) | shares | 300,000,000 | 300,000,000 | ||
Common stock par value (in usd per share) | $ / shares | $ 0.0005 | $ 0.0005 | ||
Class B Common Stock | IPO | ||||
Class of Stock [Line Items] | ||||
Common stock shares authorized (in shares) | shares | 300,000,000 | |||
Common stock par value (in usd per share) | $ / shares | $ 0.0005 | |||
Number of votes per share | vote | 10 | |||
Common stock conversion ratio | 1 |
Leases - Additional Information
Leases - Additional Information (Details) - USD ($) | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Leases [Abstract] | |||
Cash payments | $ 11,000,000 | ||
Operating lease liabilities arising from obtaining operating right of-use assets | $ 6,249,000 | $ 0 | $ 0 |
Weighted average remaining lease term | 4 years 1 month 6 days | ||
Weighted average discount rate | 5.90% | ||
Sublease income | $ 0 | ||
Rent expense | $ 10,300,000 | $ 6,900,000 |
Leases - Lease Cost (Details)
Leases - Lease Cost (Details) $ in Thousands | 12 Months Ended |
Jan. 31, 2021USD ($) | |
Leases [Abstract] | |
Operating lease cost | $ 10,308 |
Short-term lease cost | 1,957 |
Variable lease cost | 3,007 |
Total lease cost | $ 15,272 |
Leases - Maturities of Operatin
Leases - Maturities of Operating Lease Liabilities (Details) $ in Thousands | Jan. 31, 2021USD ($) |
Leases [Abstract] | |
Fiscal 2022 | $ 10,187 |
Fiscal 2023 | 10,879 |
Fiscal 2024 | 10,816 |
Fiscal 2025 | 9,973 |
Thereafter | 4,050 |
Thereafter | 279 |
Total operating lease payments | 46,184 |
Less: imputed interest | (5,221) |
Present value of operating lease liabilities | $ 40,963 |
Leases - Maturities under ASC 8
Leases - Maturities under ASC 840 (Details) $ in Thousands | Jan. 31, 2020USD ($) |
Leases [Abstract] | |
Fiscal 2021 | $ 9,958 |
Fiscal 2022 | 9,869 |
Fiscal 2023 | 9,377 |
Fiscal 2024 | 9,370 |
Fiscal 2025 | 8,441 |
Thereafter | 3,671 |
Total | $ 50,686 |
Stock-Based Compensation (Detai
Stock-Based Compensation (Details) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | |||||
May 31, 2019purchasePeriodshares | Oct. 31, 2018USD ($)$ / sharesshares | Sep. 30, 2018trancheinstallment | Jan. 31, 2021USD ($)installment$ / sharesshares | Jan. 31, 2020USD ($)$ / sharesshares | Jan. 31, 2019USD ($)$ / shares | Jun. 14, 2019USD ($) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Total stock-based compensation expense | $ 149,675 | $ 79,940 | $ 20,505 | ||||
Accrued payroll and benefits | $ 71,907 | 36,810 | |||||
Shares of common stock issuable from stock options | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Options exercisable (in shares) | shares | 424,906 | ||||||
Options, aggregate intrinsic value | $ 711,400 | $ 469,600 | $ 181,100 | ||||
Options exercisable, weighted average contractual term | 6 years 4 months 24 days | 6 years 8 months 12 days | 7 years 1 month 6 days | ||||
Weighted average grant date fair value (in usd per share) | $ / shares | $ 66.31 | $ 9.51 | $ 5.70 | ||||
Options exercised, intrinsic value | $ 847,500 | $ 407,900 | $ 26,900 | ||||
Options outstanding, intrinsic value | $ 1,400,000 | $ 816,300 | $ 286,100 | ||||
Options outstanding, weighted average remaining contractual term | 7 years | 7 years 4 months 24 days | 7 years 10 months 24 days | ||||
Total unrecognized stock-based compensation expense, unvested options | $ 24,300 | $ 34,700 | |||||
Expected amortization period, weighted average vesting period | 1 year 8 months 12 days | 2 years 1 month 6 days | |||||
Common stock shares issued, early exercised stock options | shares | 0 | 1,037,356 | |||||
Stock issued during period, early exercise of employee options, Value | $ 10,300 | ||||||
Number of shares of common stock related to early exercised stock options subject to repurchase (in shares) | shares | 548,028 | 984,417 | |||||
Value of common stock related to early exercised stock options subject to repurchase | $ 5,400 | $ 8,700 | |||||
RSUs | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of vesting schedules | 3 | 3 | |||||
RSUs | Tranche One | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Vesting percentage | 25.00% | ||||||
Number of quarterly installments | installment | 12 | 12 | |||||
RSUs | Tranche Two | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of quarterly installments | installment | 16 | 16 | |||||
RSUs | Tranche Three | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of quarterly installments | installment | 8 | 8 | |||||
Performance Based RSUs | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Deferred compensation expense | $ 17,300 | ||||||
Restricted Stock Units (RSUs) | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Expected amortization period, weighted average vesting period | 2 years 7 months 6 days | 2 years 6 months | |||||
Unrecognized stock based compensation expense, unvested RSUs | $ 393,900 | $ 139,400 | |||||
PSUs | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Expected amortization period, weighted average vesting period | 1 year 3 months 18 days | 1 year 7 months 6 days | |||||
Unrecognized stock based compensation expense, unvested RSUs | $ 24,800 | $ 2,700 | |||||
PSUs | Minimum | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Threshold percentage, outstanding shares | 0.00% | ||||||
PSUs | Maximum | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Threshold percentage, outstanding shares | 130.00% | ||||||
Series E Redeemable Convertible Preferred Stock | Tender Offer Transaction | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Sale of stock, shares issued (in shares) | shares | 2,400,000 | ||||||
Sale of stock, price per share (in usd per share) | $ / shares | $ 15.64 | ||||||
Sale of stock, aggregate purchase price | $ 37,600 | ||||||
Total stock-based compensation expense | $ 10,800 | ||||||
Equity Incentive Plan 2019 | Class A Common Stock | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Shares authorized (in shares) | shares | 8,750,000 | ||||||
Threshold percentage, outstanding shares | 2.00% | ||||||
Employee Stock Purchase Plan | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Threshold percentage, outstanding shares | 1.00% | ||||||
ESPP, consecutive offering period | 24 months | ||||||
ESPP, number of purchase periods | purchasePeriod | 4 | ||||||
ESPP, purchase period duration | 6 months | ||||||
ESPP, percentage of eligible compensation | 15.00% | ||||||
Maximum number of shares purchasable (in shares) | shares | 2,500 | ||||||
Purchase price of common stock, percentage | 85.00% | ||||||
Plan modification, incremental cost | $ 3,500 | ||||||
Accrued payroll and benefits | $ 11,000 | $ 6,600 | |||||
Employee Stock Purchase Plan | Class A Common Stock | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Shares authorized (in shares) | shares | 3,500,000 |
Stock-Based Compensation - Fair
Stock-Based Compensation - Fair Value of Options (Details) | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Employee Stock Purchase Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend yield | 0.00% | 0.00% | |
Employee Stock Purchase Plan | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (in years) | 6 months | 6 months | |
Risk-free interest rate | 0.10% | 1.60% | |
Expected stock price volatility | 30.10% | 30.10% | |
Employee Stock Purchase Plan | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (in years) | 2 years | 2 years | |
Risk-free interest rate | 2.00% | 2.20% | |
Expected stock price volatility | 54.30% | 35.70% | |
Shares of common stock issuable from stock options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (in years) | 6 years 18 days | ||
Dividend yield | 0.00% | 0.00% | 0.00% |
Shares of common stock issuable from stock options | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (in years) | 3 years 2 months 1 day | 6 years 18 days | |
Risk-free interest rate | 0.20% | 2.00% | 2.60% |
Expected stock price volatility | 35.80% | 37.70% | 37.80% |
Shares of common stock issuable from stock options | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (in years) | 6 years 18 days | 7 years 6 months 7 days | |
Risk-free interest rate | 0.40% | 2.40% | 3.10% |
Expected stock price volatility | 37.30% | 37.90% | 38.90% |
Stock-Based Compensation - Stoc
Stock-Based Compensation - Stock Option Activity (Details) - Options | 12 Months Ended |
Jan. 31, 2021$ / sharesshares | |
Number of Shares | |
Options outstanding, beginning balance (in shares) | shares | 14,689,000 |
Options granted (in shares) | shares | 97,000 |
Options exercised (in shares) | shares | (7,752,000) |
Options canceled (in shares) | shares | (388,000) |
Options outstanding, ending balance (in shares) | shares | 6,646,000 |
Options, vested and expected to vest (in shares) | shares | 6,646,000 |
Options exercisable (in shares) | shares | 3,377,000 |
Weighted- Average Exercise Price Per Share | |
Options outstanding, beginning balance, weighted average exercise price (in usd per share) | $ / shares | $ 5.52 |
Options granted, weighted average exercise price (in usd per share) | $ / shares | 64.64 |
Options exercised, weighted average exercise price (in usd per share) | $ / shares | 3.72 |
Options canceled, weighted average exercise price per share (in usd per share) | $ / shares | 9.66 |
Options outstanding, ending balance, weighted average exercise price (in usd per share) | $ / shares | 8.24 |
Options vested and expected to vest, weighted average exercise price (in usd per share) | $ / shares | 8.24 |
Options exercisable, weighted average exercise price (in usd per share) | $ / shares | $ 5.13 |
Stock-Based Compensation - RSU
Stock-Based Compensation - RSU Activity (Details) - RSU and PSU shares in Thousands | 12 Months Ended |
Jan. 31, 2021$ / sharesshares | |
Number of Shares | |
Shares outstanding at beginning of period (in shares) | shares | 6,063 |
Granted (in shares) | shares | 4,743 |
Released (in shares) | shares | (1,994) |
Forfeited (in shares) | shares | (363) |
Shares outstanding at end of period (in shares) | shares | 8,449 |
Shares exercisable at end of period (in shares) | shares | 8,449 |
Weighted- Average Exercise Price Per Share | |
Shares outstanding at beginning of period (in usd per share) | $ / shares | $ 29.82 |
Granted (in usd per share) | $ / shares | 85.13 |
Released (in usd per share) | $ / shares | 34.15 |
Forfeited (in usd per share) | $ / shares | 43.31 |
Shares outstanding at end of period (in usd per share) | $ / shares | 59.27 |
Shares exercisable at end of period (in usd per share) | $ / shares | $ 59.27 |
Stock-Based Compensation - Expe
Stock-Based Compensation - Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Total stock-based compensation expense | $ 149,675 | $ 79,940 | $ 20,505 |
Sales and marketing | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Total stock-based compensation expense | 50,557 | 23,919 | 5,175 |
Research and development | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Total stock-based compensation expense | 40,274 | 15,403 | 7,815 |
General and administrative | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Total stock-based compensation expense | 41,134 | 32,906 | 6,621 |
Subscription cost of revenue | Cost of revenue | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Total stock-based compensation expense | 11,705 | 5,226 | 689 |
Professional services cost of revenue | Cost of revenue | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Total stock-based compensation expense | $ 6,005 | $ 2,486 | $ 205 |
Revenue, Deferred Revenue and_3
Revenue, Deferred Revenue and Remaining Performance Obligations - Revenue from Contracts by Type and Region (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 874,438 | $ 481,413 | $ 249,824 |
Percentage of Revenue | 100.00% | 100.00% | 100.00% |
United States | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 627,402 | $ 356,513 | $ 192,057 |
Percentage of Revenue | 72.00% | 74.00% | 77.00% |
Europe, Middle East, and Africa | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 123,900 | $ 67,428 | $ 29,721 |
Percentage of Revenue | 14.00% | 14.00% | 12.00% |
Asia Pacific | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 80,185 | $ 37,672 | $ 17,213 |
Percentage of Revenue | 9.00% | 8.00% | 7.00% |
Other | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 42,951 | $ 19,800 | $ 10,833 |
Percentage of Revenue | 5.00% | 4.00% | 4.00% |
Channel Partners | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 655,031 | $ 331,279 | $ 172,141 |
Percentage of Revenue | 75.00% | 69.00% | 69.00% |
Direct Customers | |||
Disaggregation of Revenue [Line Items] | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 219,407 | $ 150,134 | $ 77,683 |
Percentage of Revenue | 25.00% | 31.00% | 31.00% |
Revenue, Deferred Revenue and_4
Revenue, Deferred Revenue and Remaining Performance Obligations (Details) - USD ($) | 12 Months Ended | |
Jan. 31, 2021 | Jan. 31, 2020 | |
Disaggregation of Revenue [Line Items] | ||
Revenue recognized, contract liabilities | $ 410,700,000 | $ 217,900,000 |
Commission amortization period | 4 years | |
Professional service contract amortization period | 6 months | |
Impairment loss | $ 0 | |
Minimum | ||
Disaggregation of Revenue [Line Items] | ||
Payment terms | 30 days | |
Subscription term | 1 year | |
Maximum | ||
Disaggregation of Revenue [Line Items] | ||
Payment terms | 60 days | |
Subscription term | 3 years |
Revenue, Deferred Revenue and_5
Revenue, Deferred Revenue and Remaining Performance Obligations - Performance Obligations (Details) $ in Billions | Jan. 31, 2021USD ($) |
Revenue Recognition and Deferred Revenue [Abstract] | |
Transaction price allocated to remaining performance obligation, amount | $ 1.4 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-02-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation, percentage | 72.00% |
Remaining performance obligation, period | 12 months |
Revenue, Deferred Revenue and_6
Revenue, Deferred Revenue and Remaining Performance Obligations - Changes in Deferred Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2021 | Jan. 31, 2020 | |
Movement in Deferred Revenue [Roll Forward] | ||
Contract with customer, liability, beginning balance | $ 571,168 | $ 290,067 |
Additions to deferred revenue | 1,215,165 | 762,514 |
Recognition of deferred revenue | (874,438) | (481,413) |
Contract with customer, liability, beginning balance | $ 911,895 | $ 571,168 |
Revenue, Deferred Revenue and_7
Revenue, Deferred Revenue and Remaining Performance Obligations - Deferred Contract Acquisition Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2021 | Jan. 31, 2020 | |
Capitalized Contract Cost [Roll Forward] | ||||
Beginning balance | $ 114,206 | $ 38,765 | ||
Adjustment due to adoption of ASU 606 | 0 | 24,306 | ||
Capitalization of contract acquisition costs | 150,975 | 86,594 | ||
Amortization of deferred contract acquisition costs | (66,425) | (35,459) | ||
Ending balance | 198,756 | 114,206 | ||
Deferred contract acquisition costs, current | $ 80,850 | $ 42,971 | ||
Deferred contract acquisition costs, noncurrent | 117,906 | 71,235 | ||
Total deferred contract acquisition costs | $ 114,206 | $ 114,206 | $ 198,756 | $ 114,206 |
Commitment and Contingencies (D
Commitment and Contingencies (Details) - USD ($) | Jan. 31, 2021 | Jan. 31, 2020 |
Line of Credit Facility [Line Items] | ||
Commitment to spend | $ 96,800,000 | |
Loss contingency recorded | 0 | $ 0 |
Indemnification Agreement | ||
Line of Credit Facility [Line Items] | ||
Loss contingency recorded | 0 | 0 |
CALIFORNIA | Standby Letters of Credit | ||
Line of Credit Facility [Line Items] | ||
Unused standby letter of credit | 400,000 | $ 600,000 |
TEXAS | Standby Letters of Credit | ||
Line of Credit Facility [Line Items] | ||
Unused standby letter of credit | $ 1,000,000 |
Commitment and Contingencies -
Commitment and Contingencies - Purchase Obligations (Details) $ in Thousands | Jan. 31, 2021USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Fiscal 2022 | $ 94,422 |
Fiscal 2023 | 35,133 |
Fiscal 2024 | 31,941 |
Fiscal 2025 | 5,429 |
Fiscal 2026 | 3,012 |
Thereafter | 1,433 |
Total purchase commitments | $ 171,370 |
Geographic Information (Details
Geographic Information (Details) - USD ($) $ in Thousands | Jan. 31, 2021 | Jan. 31, 2020 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total property and equipment, net and operating lease right-of-use assets | $ 203,498 | $ 136,078 |
United States | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total property and equipment, net and operating lease right-of-use assets | 174,889 | 125,409 |
International | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total property and equipment, net and operating lease right-of-use assets | $ 28,609 | $ 10,669 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Related Party Transactions [Abstract] | |||
Revenue from related parties | $ 4,300,000 | $ 9,000,000 | $ 6,600,000 |
Accounts receivable, related parties | 1,300,000 | 200,000 | |
Purchases from related party | 8,800,000 | 3,200,000 | $ 2,200,000 |
Accounts payable, related parties | $ 0 | $ 0 |
Acquisitions (Details)
Acquisitions (Details) $ in Thousands | Sep. 30, 2020USD ($) | Jan. 31, 2021USD ($)segment | Jan. 31, 2020USD ($) |
Business Acquisition [Line Items] | |||
Fair Value | $ 16,385 | ||
Goodwill | $ 83,566 | $ 7,722 | |
Number of reportable segments | segment | 1 | ||
Acquisition related costs | $ 2,500 | ||
Preempt | |||
Business Acquisition [Line Items] | |||
Voting equity interest acquired | 100.00% | ||
Total consideration transferred | $ 91,200 | ||
Payments to acquire businesses, gross | 87,400 | ||
Fair value of replacement equity awards | 3,800 | ||
Fair Value | 16,400 | ||
Net tangible assets acquired | (500) | ||
Goodwill | $ 75,300 |
Acquisitions- Identifiable Inta
Acquisitions- Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Jan. 31, 2021 | Jan. 31, 2020 |
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Fair Value | $ 16,385 | ||
Developed technology | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Fair Value | $ 13,200 | ||
Useful Life | 60 months | 56 months | 9 months |
Customer relationships | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Fair Value | $ 3,100 | ||
Useful Life | 60 months | 54 months | 33 months |
Trade names | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Fair Value | $ 85 | ||
Useful Life | 12 months |
Net Loss Per Share Attributab_3
Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Net loss | $ (140,077) | ||
Net loss attributable to common stockholders | $ (140,077) | ||
Weighted average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares) | 217,756 | 148,062 | 44,863 |
Net loss per share attributable to Crowdstrike common stockholders, basic and diluted (in usd per share) | $ (0.43) | $ (0.96) | $ (3.12) |
Class A Common Stock | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Net loss | $ (71,226) | $ (23,369) | |
Weighted average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares) | 167,442 | 24,405 | |
Net loss per share attributable to Crowdstrike common stockholders, basic and diluted (in usd per share) | $ (0.43) | $ (0.96) | |
Class B Common Stock | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Net loss | $ (21,403) | $ (118,410) | |
Weighted average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares) | 50,314 | 123,657 | |
Net loss per share attributable to Crowdstrike common stockholders, basic and diluted (in usd per share) | $ (0.43) | $ (0.96) |
Net Loss Per Share Attributab_4
Net Loss Per Share Attributable to Common Stockholders - Antidilutive (Details) - shares shares in Thousands | 12 Months Ended | ||
Jan. 31, 2021 | Jan. 31, 2020 | Jan. 31, 2019 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potential common shares excluded from diluted net loss per share (in shares) | 16,515 | 23,194 | 158,685 |
Shares of common stock issuable upon conversion of redeemable convertible preferred stock | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potential common shares excluded from diluted net loss per share (in shares) | 0 | 0 | 131,268 |
Shares of common stock issuable upon conversion of redeemable convertible preferred stock warrants | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potential common shares excluded from diluted net loss per share (in shares) | 0 | 0 | 336 |
Shares of common stock subject to repurchase from outstanding stock options | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potential common shares excluded from diluted net loss per share (in shares) | 548 | 984 | 546 |
RSUs and PSUs subject to future vesting | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potential common shares excluded from diluted net loss per share (in shares) | 8,449 | 6,063 | 0 |
Shares of common stock issuable from stock options | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potential common shares excluded from diluted net loss per share (in shares) | 6,646 | 14,689 | 26,535 |
Share purchase rights under the employee stock purchase plan | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potential common shares excluded from diluted net loss per share (in shares) | 872 | 1,458 | 0 |
Net Loss Per Share Attributab_5
Net Loss Per Share Attributable to Common Stockholders - Narrative (Details) $ in Millions | 12 Months Ended |
Jan. 31, 2021USD ($) | |
Business Acquisition [Line Items] | |
Contingent consideration related to business combinations | $ 5.3 |
Contingent consideration, vesting period | 2 years |
Tranche One | |
Business Acquisition [Line Items] | |
Contingent consideration, vesting percentage | 50.00% |
Tranche Two | |
Business Acquisition [Line Items] | |
Contingent consideration, vesting percentage | 50.00% |
Subsequent Events (Details)
Subsequent Events (Details) - Humio Limited - Subsequent Event $ in Millions | Mar. 05, 2021USD ($) |
Subsequent Event [Line Items] | |
Payments to acquire businesses, gross | $ 352 |
Consideration transferred, stock and options | $ 40 |