Cover
Cover - shares | 3 Months Ended | |
Apr. 30, 2021 | May 28, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Apr. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-38698 | |
Entity Registrant Name | ANAPLAN, INC. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 27-0897861 | |
Entity Address, Address Line One | 50 Hawthorne Street | |
Entity Address, City or Town | San Francisco | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94105 | |
City Area Code | 415 | |
Local Phone Number | 742-8199 | |
Title of 12(b) Security | Common Stock, $0.0001 par value per share | |
Trading Symbol | PLAN | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 144,732,009 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q1 | |
Entity Central Index Key | 0001540755 | |
Current Fiscal Year End Date | --01-31 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Apr. 30, 2021 | Jan. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 327,516 | $ 320,990 |
Accounts receivable, net of allowances for credit losses of $2,900 and $3,162 as of April 30, 2021 and January 31, 2021, respectively | 104,600 | 147,005 |
Deferred commissions, current portion | 38,414 | 36,797 |
Prepaid expenses and other current assets | 25,626 | 24,252 |
Total current assets | 496,156 | 529,044 |
Property and equipment, net | 55,062 | 51,603 |
Deferred commissions, net of current portion | 83,935 | 82,405 |
Goodwill | 32,379 | 32,379 |
Operating lease right-of-use assets | 37,509 | 33,985 |
Other noncurrent assets | 9,460 | 9,709 |
TOTAL ASSETS | 714,501 | 739,125 |
Current liabilities: | ||
Accounts payable | 7,374 | 7,949 |
Accrued expenses | 90,881 | 101,507 |
Deferred revenue, current portion | 286,922 | 287,778 |
Operating lease liabilities, current portion | 8,561 | 7,951 |
Total current liabilities | 393,738 | 405,185 |
Deferred revenue, net of current portion | 5,739 | 7,765 |
Operating lease liabilities, net of current portion | 33,152 | 30,130 |
Other noncurrent liabilities | 19,175 | 18,032 |
TOTAL LIABILITIES | 451,804 | 461,112 |
Stockholders' equity: | ||
Common stock, par value of $0.0001 per share; 1,750,000 shares authorized as of April 30, 2021 and January 31, 2021; 144,682 and 143,502 shares issued and outstanding as of April 30, 2021 and January 31, 2021 | 14 | 14 |
Accumulated other comprehensive loss | (8,803) | (7,528) |
Additional paid-in capital | 969,955 | 932,505 |
Accumulated deficit | (698,469) | (646,978) |
TOTAL STOCKHOLDERS' EQUITY | 262,697 | 278,013 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 714,501 | $ 739,125 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Apr. 30, 2021 | Jan. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Accounts receivable, net, allowances for credit losses | $ 2,900 | $ 3,162 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 1,750,000,000 | 1,750,000,000 |
Common stock, shares issued (in shares) | 144,682,000 | 143,502,000 |
Common stock, shares outstanding (in shares) | 144,682,000 | 143,502,000 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
Revenue: | ||
Total revenue | $ 129,825 | $ 103,844 |
Cost of revenue: | ||
Total cost of revenue | 32,821 | 24,740 |
Gross profit | 97,004 | 79,104 |
Operating expenses: | ||
Research and development | 33,212 | 23,762 |
Sales and marketing | 88,470 | 71,674 |
General and administrative | 24,945 | 22,428 |
Total operating expenses | 146,627 | 117,864 |
Loss from operations | (49,623) | (38,760) |
Interest income (expense), net | (151) | 511 |
Other income (expense), net | (459) | (331) |
Loss before income taxes | (50,233) | (38,580) |
Provision for income taxes | (1,258) | (1,022) |
Net loss | (51,491) | (39,602) |
Comprehensive loss: | ||
Foreign currency translation adjustments | (1,275) | 1,751 |
Comprehensive loss | $ (52,766) | $ (37,851) |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (0.36) | $ (0.29) |
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares) | 144,161 | 136,362 |
Subscription revenue | ||
Revenue: | ||
Total revenue | $ 118,343 | $ 93,824 |
Cost of revenue: | ||
Total cost of revenue | 21,329 | 15,185 |
Professional services revenue | ||
Revenue: | ||
Total revenue | 11,482 | 10,020 |
Cost of revenue: | ||
Total cost of revenue | $ 11,492 | $ 9,555 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Cumulative Effect, Period of Adoption, Adjustment | Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Loss | Accumulated Deficit | Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment |
Beginning balance at Jan. 31, 2020 | $ 291,681 | $ (558) | $ 13 | $ 788,447 | $ (4,326) | $ (492,453) | $ (558) |
Beginning balance (in shares) at Jan. 31, 2020 | 135,495,000 | ||||||
Stock-based compensation | 23,486 | 23,486 | |||||
Exercise of stock options, net of repurchases and early exercises | 3,798 | 3,798 | |||||
Exercise of stock options, net of repurchases and early exercises (in shares) | 698,000 | ||||||
Vesting of restricted stock units (in shares) | 938,000 | ||||||
Net loss | (39,602) | (39,602) | |||||
Foreign currency translation adjustments | 1,751 | 1,751 | |||||
Other | 25 | 25 | |||||
Ending balance at Apr. 30, 2020 | 280,581 | $ 13 | 815,756 | (2,575) | (532,613) | ||
Ending balance (in shares) at Apr. 30, 2020 | 137,131,000 | ||||||
Beginning balance at Jan. 31, 2021 | 278,013 | $ 14 | 932,505 | (7,528) | (646,978) | ||
Beginning balance (in shares) at Jan. 31, 2021 | 143,502,000 | ||||||
Stock-based compensation | 35,352 | 35,352 | |||||
Exercise of stock options, net of repurchases and early exercises | 2,098 | 2,098 | |||||
Exercise of stock options, net of repurchases and early exercises (in shares) | 357,000 | ||||||
Vesting of restricted stock units (in shares) | 823,000 | ||||||
Net loss | (51,491) | (51,491) | |||||
Foreign currency translation adjustments | (1,275) | (1,275) | |||||
Ending balance at Apr. 30, 2021 | $ 262,697 | $ 14 | $ 969,955 | $ (8,803) | $ (698,469) | ||
Ending balance (in shares) at Apr. 30, 2021 | 144,682,000 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (51,491) | $ (39,602) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 6,970 | 6,070 |
Amortization of deferred commissions | 9,708 | 7,718 |
Stock-based compensation | 34,071 | 22,493 |
Reduction of operating lease right-of-use assets and accretion of operating lease liabilities | 2,434 | 2,852 |
Other non-cash items | (324) | 1,106 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 43,939 | 12,848 |
Prepaid expenses and other current assets | (1,301) | 1,508 |
Other noncurrent assets | (108) | 114 |
Deferred commissions | (12,547) | (10,056) |
Accounts payable and accrued expenses | (11,120) | (2,546) |
Deferred revenue | (4,845) | (3,159) |
Payments for operating lease liabilities, net | (2,293) | (2,835) |
Other noncurrent liabilities | 716 | 1,985 |
Net cash provided by (used in) operating activities | 13,809 | (1,504) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of property and equipment | (3,113) | (1,583) |
Capitalized internal-use software | (3,086) | (2,880) |
Net cash used in investing activities | (6,199) | (4,463) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from exercise of stock options | 2,092 | 3,792 |
Principal payments on finance lease obligations | (2,520) | (1,728) |
Net cash provided by (used in) financing activities | (428) | 2,064 |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (656) | (743) |
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | 6,526 | (4,646) |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH - Beginning of period | 320,990 | 309,894 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH - End of period | 327,516 | 305,248 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Cash paid for interest | 145 | 184 |
Cash paid for income taxes | 784 | 307 |
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
Increase (decrease) in purchases of property and equipment included in liabilities | (482) | 1,687 |
Finance leases for property and equipment | $ 2,910 | $ 568 |
Summary of Business and Signifi
Summary of Business and Significant Accounting Policies | 3 Months Ended |
Apr. 30, 2021 | |
Accounting Policies [Abstract] | |
Summary of Business and Significant Accounting Policies | Summary of Business and Significant Accounting Policies Description of Business Anaplan, Inc. (the Company, Anaplan, we, us, or our) was incorporated in Delaware on July 9, 2009 and is headquartered in San Francisco, California, with offices in multiple U.S. and international locations. The Company provides a cloud-based Connected Planning platform that helps connect organizations and people to make better and faster decisions. The Company delivers its application over the Internet as a subscription service using a software-as-a-service (SaaS) model. The Company also offers professional services related to implementing and supporting its application. Fiscal Year The Company’s fiscal year ends on January 31. References to fiscal 2022, for example, refer to the fiscal year ending January 31, 2022. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting and include the accounts of the Company and its wholly owned subsidiaries (collectively, the Company). All significant intercompany balances and transactions have been eliminated in consolidation. The unaudited condensed consolidated balance sheet as of January 31, 2021, included herein was derived from the audited financial statements as of that date, but does not include all disclosures including certain notes required by U.S. GAAP on an annual reporting basis. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of comprehensive loss, statements of stockholders’ equity, and statements of cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year or any future period. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Form 10-K filed with the SEC on March 12, 2021. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Such estimates include, but are not limited to, the determination of revenue recognition, certain assumptions in the valuation of stock awards, the determination of the period of benefit for deferred commissions, the determination of the incremental borrowing rate used for operating lease liabilities, the allowance for credit losses, and the fair value of assets acquired and liabilities assumed for business combinations. Actual results could differ from those estimates. The Company continues to assess the impact of COVID-19 and as of the date of filing of these unaudited condensed consolidated financial statements, the Company is not aware of any specific event or circumstance that would require updating significant estimates or judgments or revising the carrying value of the Company's assets or liabilities as presented in the unaudited interim condensed consolidated financial statements. These estimates may change as new events occur and additional information is obtained. Actual results could differ from those estimates and any such differences may be material to our financial statements. Summary of Significant Accounting Policies The Company’s significant accounting policies are discussed in Note 1 of the notes to the consolidated financial statements included in the Company’s Form 10-K filed with the SEC on March 12, 2021. There have been no significant changes to these policies during the three months ended April 30, 2021. Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2019-12, Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes , which simplifies the accounting for income taxes by removing certain exceptions to the general principles of income taxes and reducing the cost and complexity in accounting for income taxes. The guidance is effective for interim and annual periods beginning after December 15, 2020. The adoption of the new standard had no material impact on the Company's condensed consolidated financial statements. |
Consolidated Balance Sheet Comp
Consolidated Balance Sheet Components | 3 Months Ended |
Apr. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Consolidated Balance Sheet Components | Consolidated Balance Sheet Components Property and Equipment, net Property and equipment consisted of the following: As of April 30, January 31, (In thousands) Computer and office equipment $ 62,643 $ 58,231 Leasehold improvements 14,337 14,055 Internal-use software 44,975 41,475 Construction in progress 8,967 6,941 Property and equipment, gross 130,922 120,702 Less: accumulated depreciation (75,860) (69,099) Property and equipment, net $ 55,062 $ 51,603 Depreciation expense was $6.6 million and $5.7 million for the three months ended April 30, 2021 and 2020, respectively. The Company capitalized $4.2 million and $3.8 million in internal-use software in the three months ended April 30, 2021 and 2020, respectively, of which $1.1 million and $1.0 million was stock-based compensation expense for each respective period. Amortization of the capitalized internal-use software, included in total depreciation expense above, was $2.6 million and $2.1 million in the three months ended April 30, 2021 and 2020, respectively. Accrued Expenses Accrued expenses consisted of the following: As of April 30, 2021 January 31, 2021 (In thousands) Vendor accruals $ 10,600 $ 11,262 Accrued commission 8,622 12,521 Accrued bonuses 7,925 15,583 Accrued other payroll liabilities 36,864 31,238 Current portion of finance lease obligations 7,658 8,031 Accrued other 19,212 22,872 Accrued expenses $ 90,881 $ 101,507 Preferred Stock As of April 30, 2021 and January 31, 2021, the authorized preferred stock of the Company consisted of 25 million shares with a par value of $0.0001 per share. There were no shares of preferred stock issued and outstanding as of April 30, 2021, and January 31, 2021. |
Bank Borrowing
Bank Borrowing | 3 Months Ended |
Apr. 30, 2021 | |
Debt Disclosure [Abstract] | |
Bank Borrowing | Bank BorrowingIn April 2020, the Company entered into the Third Amendment to Credit Agreement and First Amendment to Collateral Agreement with Wells Fargo Bank, N.A. (“Wells Fargo”) as administrative agent and lender (the “Third Amendment”). Among other things, the Third Amendment further amends the Credit Agreement entered into with Wells Fargo in April 2018, as amended in September 2018 and October 2019 (the “Credit Agreement”) in order to: (1) increase the aggregate revolving credit commitment amount by $20.0 million, so that the Company may borrow up to $60.0 million under a secured revolving credit facility, subject to the terms of the Credit Agreement including the accounts receivable borrowing base, for general corporate purposes; and (2) extend the maturity date of the revolving credit facility until April 23, 2022. Also, pursuant to the Third Amendment, any loans drawn on the credit facility will incur interest at a rate equal to the highest of (A) the prime rate, (B) the federal funds rate plus 0.5%, and (C) the one-month LIBOR plus 1%. Interest is payable monthly in arrears with the principal and any accrued and unpaid interest due on April 23, 2022. As of April 30, 2021, and January 31, 2021, the Company had not drawn down any amounts under this agreement. As of April 30, 2021, the Company was in compliance with the financial covenants contained in the agreement. |
Leases
Leases | 3 Months Ended |
Apr. 30, 2021 | |
Leases [Abstract] | |
Leases | Leases The Company leases certain facilities under operating leases, and property and equipment under finance leases that expire from fiscal 2022 to 2028. The components of lease expense were as follows: Three Months Ended April 30, 2021 2020 (In thousands) Operating lease costs $ 2,434 $ 2,852 Finance lease costs Amortization of assets $ 2,570 $ 1,785 Interest on lease liabilities 145 184 Total finance lease costs $ 2,715 $ 1,969 Supplemental balance sheet information related to leases is as follows: As of April 30, 2021 January 31, 2021 (In thousands) Operating leases: Operating lease ROU assets $ 37,509 $ 33,985 Operating lease liabilities, current portion $ 8,561 $ 7,951 Operating lease liabilities, net of current portion 33,152 30,130 Total operating lease liabilities $ 41,713 $ 38,081 Finance leases: Property and equipment, gross $ 32,041 $ 29,132 Less: accumulated depreciation (18,446) (15,876) Property and equipment, net $ 13,595 $ 13,256 Accrued expenses $ 7,658 $ 8,031 Other noncurrent liabilities 6,346 5,761 Total finance lease liabilities $ 14,004 $ 13,792 Weighted-average lease terms and discount rates are as follows: As of April 30, 2021 Operating Leases Finance Leases Weighted-average remaining lease terms 4.5 years 2.0 years Weighted-average discount rates 5.2% 3.9% Future minimum lease payments under operating leases and finance leases as of April 30, 2021, are as follows: As of April 30, 2021 Operating Leases Finance Leases (In thousands) Years ending January 31, 2022(remaining 9 months) $ 7,554 $ 6,795 2023 10,779 5,339 2024 9,879 2,331 2025 8,317 184 2026 7,855 — Thereafter 2,452 — Total lease payments 46,836 14,649 Less: amount representing interest (4,956) (645) Less: leases less than 12 months (167) — Total lease liabilities $ 41,713 $ 14,004 The Company enters into commitments to lease computer and office equipment for which the timing of the lease payments is not determined until the date of commencement. As of April 30, 2021, the amounts related to these leases were approximately $4.4 million, which are to be paid over three years after the date of commencement. |
Leases | Leases The Company leases certain facilities under operating leases, and property and equipment under finance leases that expire from fiscal 2022 to 2028. The components of lease expense were as follows: Three Months Ended April 30, 2021 2020 (In thousands) Operating lease costs $ 2,434 $ 2,852 Finance lease costs Amortization of assets $ 2,570 $ 1,785 Interest on lease liabilities 145 184 Total finance lease costs $ 2,715 $ 1,969 Supplemental balance sheet information related to leases is as follows: As of April 30, 2021 January 31, 2021 (In thousands) Operating leases: Operating lease ROU assets $ 37,509 $ 33,985 Operating lease liabilities, current portion $ 8,561 $ 7,951 Operating lease liabilities, net of current portion 33,152 30,130 Total operating lease liabilities $ 41,713 $ 38,081 Finance leases: Property and equipment, gross $ 32,041 $ 29,132 Less: accumulated depreciation (18,446) (15,876) Property and equipment, net $ 13,595 $ 13,256 Accrued expenses $ 7,658 $ 8,031 Other noncurrent liabilities 6,346 5,761 Total finance lease liabilities $ 14,004 $ 13,792 Weighted-average lease terms and discount rates are as follows: As of April 30, 2021 Operating Leases Finance Leases Weighted-average remaining lease terms 4.5 years 2.0 years Weighted-average discount rates 5.2% 3.9% Future minimum lease payments under operating leases and finance leases as of April 30, 2021, are as follows: As of April 30, 2021 Operating Leases Finance Leases (In thousands) Years ending January 31, 2022(remaining 9 months) $ 7,554 $ 6,795 2023 10,779 5,339 2024 9,879 2,331 2025 8,317 184 2026 7,855 — Thereafter 2,452 — Total lease payments 46,836 14,649 Less: amount representing interest (4,956) (645) Less: leases less than 12 months (167) — Total lease liabilities $ 41,713 $ 14,004 The Company enters into commitments to lease computer and office equipment for which the timing of the lease payments is not determined until the date of commencement. As of April 30, 2021, the amounts related to these leases were approximately $4.4 million, which are to be paid over three years after the date of commencement. |
Acquisition-Related Intangible
Acquisition-Related Intangible Assets | 3 Months Ended |
Apr. 30, 2021 | |
Finite-Lived Intangible Assets, Net [Abstract] | |
Acquisition-Related Intangible Assets | Acquisition-Related Intangible Assets The components of identifiable intangible assets included in other noncurrent assets are as follows: As of April 30, 2021 January 31, 2021 (In thousands) Developed technology $ 5,200 $ 5,200 Customer relationships 2,976 2,976 Intangible assets, gross $ 8,176 $ 8,176 Less: accumulated amortization (2,998) (2,663) Intangible assets, net $ 5,178 $ 5,513 Amortization expense of acquisition-related intangible assets was immaterial for the three months ended April 30, 2021 and 2020. The expected future intangible assets amortization as of April 30, 2021 is as follows: As of April 30, 2021 (In thousands) Years ending January 31, 2022 (remaining 9 months) $ 1,005 2023 1,340 2024 1,340 2025 993 2026 300 Thereafter 200 Total future intangible assets amortization $ 5,178 |
Employee Stock Plans
Employee Stock Plans | 3 Months Ended |
Apr. 30, 2021 | |
Retirement Benefits [Abstract] | |
Employee Stock Plans | Employee Stock Plans As of April 30, 2021 and January 31, 2021, the Company was authorized to issue 1,750,000,000 shares of common stock. Shares were reserved for future issuance as follows: As of April 30, 2021 January 31, 2021 (In thousands) Outstanding stock options 6,236 6,600 Outstanding restricted stock units ("RSUs") and performance-based restricted stock units ("PSUs") 9,789 8,558 Shares available for future issuances under the 2018 Stock Plan 26,692 21,564 Shares available for future issuances under the 2018 ESPP 5,152 3,717 Total 47,869 40,439 Stock Options A summary of stock option activity for the three months ended April 30, 2021, was as follows: Number of Shares Weighted Average Exercise Price Aggregate Intrinsic Value (In thousands) (In thousands) Balance as of January 31, 2021 6,600 $ 11.83 $ 362,149 Options exercised (357) 5.86 — Options forfeited (7) 6.26 — Balance as of April 30, 2021 6,236 $ 12.18 $ 296,046 Exercisable as of April 30, 2021 6,087 $ 11.80 $ 291,293 Vested and expected to vest as of April 30, 2021 4,542 $ 8.64 $ 231,713 As of April 30, 2021, unrecognized stock-based compensation cost related to outstanding unvested stock options that are expected to vest was $12.0 million, which is expected to be recognized over a weighted-average period of 1.9 years. RSUs and PSUs A summary of RSUs and PSUs activities for the three months ended April 30, 2021, was as follows: Number of Shares Weighted- Average Grant Date Fair Value (In thousands) Balance as of January 31, 2021 8,558 $ 37.15 RSUs and PSUs granted 2,280 61.98 RSUs and PSUs vested (823) 32.62 RSUs and PSUs forfeited (226) 44.03 Balance as of April 30, 2021 9,789 $ 43.15 As of April 30, 2021, unrecognized stock-based compensation cost related to outstanding unvested RSUs that are expected to vest was $293.5 million, which is expected to be recognized over a weighted-average period of 3.0 years. In the first quarter of fiscal 2022, the Company granted PSUs to certain senior executive officers under the 2018 Stock Plan. PSUs are subject to service-based and market-based vesting conditions. The number of shares that could be earned is based on our total stockholder return as compared to the constituents of the S&P Software & Services Select Index over 1-year, 2-year and 3-year cumulative performance periods inclusive of our fiscal 2022 through the fiscal year ended January 31, 2024. The number of shares that could be earned will range from 0% to 200% of the target number of shares. The fair value of the PSUs grant was determined using a Monte Carlo simulation approach. The compensation cost is recognized under the accelerated attribution method. As of April 30, 2021, unrecognized stock-based compensation cost related to outstanding unvested PSUs that are expected to vest was $12.8 million, which is expected to be recognized over a weighted-average period of 2.2 years. Stock-Based Compensation The stock-based compensation expense, net of estimated forfeitures, by line item in the accompanying condensed consolidated statements of comprehensive loss is summarized as follows: Three Months Ended April 30, 2021 2020 (In thousands) Cost of subscription revenue $ 1,522 $ 708 Cost of professional services revenue 831 508 Research and development 6,966 3,646 Sales and marketing 16,633 10,031 General and administrative 8,119 7,600 Total stock-based compensation expense $ 34,071 $ 22,493 The Company’s estimated forfeiture rate is based on accumulated historical forfeiture data. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Apr. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Cash and cash equivalents included investments in money market funds of $252.4 million and $240.0 million at April 30, 2021 and January 31, 2021, respectively. The fair value of the money market funds was determined using quoted prices for identical investments in active markets, which are considered to be Level 1 inputs under the fair value measurements and disclosure guidance. Other than the money market funds, the Company did not hold any assets or liabilities that are measured at fair value on a recurring basis as of April 30, 2021, and January 31, 2021. There were no transfers into or out of Level 1, Level 2, or Level 3 during the three months ended April 30, 2021 and 2020. |
Revenue Recognition
Revenue Recognition | 3 Months Ended |
Apr. 30, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | Revenue Recognition The Company derives revenue primarily from sales of subscription services and, to a lesser degree, from professional services. Revenue is recognized when a customer obtains access to the platform and receives the related professional services. The amount of revenue recognized reflects the consideration that the Company expects to be entitled to receive in exchange for these services. 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 cloud-based application: Three Months Ended April 30, 2021 2020 Amount Percentage Amount Percentage (In thousands, except percentage data) Americas $ 71,254 55 % $ 60,070 58 % EMEA 43,658 34 32,843 32 APAC 14,913 11 10,931 10 Total $ 129,825 100 % $ 103,844 100 % The United States and the U.K. were the only two countries that represented more than 10% of the Company’s total revenue in any period. Revenue in the United States and as a percentage of total revenue comprised of $68.0 million and 52%, and $57.7 million and 56% in the three months ended April 30, 2021 and 2020, respectively. Revenue in the U.K. comprised of $15.7 million and 12%, and $12.0 million and 12% in the three months ended April 30, 2021 and 2020, respectively. Contract Balances Contract assets represent revenue recognized for contracts that have not yet been invoiced to customers, typically for multi-year arrangements. Total contract assets were $0.2 million and $0.3 million as of April 30, 2021, and January 31, 2021, respectively, which were included within prepaid expenses and other current assets and other noncurrent assets on the condensed consolidated balance sheets. Contract liabilities consist of deferred revenue. Revenue is deferred when the Company has the right to invoice in advance of performance under a contract. The current portion of deferred revenue balances are recognized over the following 12-month period. The amount of revenue recognized in the three months ended April 30, 2021 and 2020 that was included in deferred revenue at the beginning of each period was $107.3 million and $88.6 million, respectively. Remaining Performance Obligation As of April 30, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was $832.3 million, which consists of both billed consideration in the amount of $292.7 million and unbilled consideration in the amount of $539.6 million that the Company expects to recognize as revenue in the future periods. The Company expects to cumulatively recognize approximately 53% and 84% of this amount as revenue in the next 12 months and 24 months, respectively, with the remaining balance recognized thereafter. As of January 31, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was $817.6 million, which consists of both billed consideration in the amount of $295.5 million and unbilled consideration in the amount of $522.1 million that the Company expects to recognize as revenue in the future periods. The Company expects to recognize 51% and 83% of this amount as revenue in the next 12 months and 24 months, respectively, with the remaining balance recognized thereafter. The Company applied a practical expedient allowing it not to disclose the amount of the transaction price allocated to the remaining performance obligations for contracts with an original expected duration of one year or less. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Apr. 30, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies On August 24, 2020, a purported stockholder of the Company filed a putative securities class action complaint in the United States District Court for the Northern District of California, captioned Grobler v. Anaplan, Inc., et al., 3:20-cv-05959, against the Company and certain of the Company’s executive officers. The Court appointed a lead plaintiff on November 12, 2020, and on January 6, 2021, the lead plaintiff filed an amended complaint, captioned Sakkal v. Anaplan, Inc., et al. The amended complaint alleges violations of Section 10(b) and Section 20(a) of the Securities Exchange Act of 1934, as amended, purportedly on behalf of all persons who purchased Anaplan, Inc. securities between November 21, 2019, and February 26, 2020, inclusive. The claims are based upon allegations that the defendants misrepresented and/or omitted material information in certain of the Company’s prior public filings regarding the business, operations and prospects of the Company. The Company filed a motion to dismiss the amended complaint on March 8, 2021, and the plaintiff filed opposition to the motion on May 7, 2021 . At this point, no discovery has occurred in this case. The case is still in the preliminary stages, and it is not possible for the Company to quantify the extent of potential liability to the defendants, if any. The Company believes that the lawsuit lacks merit and intends to vigorously defend the action. The Company cannot predict the outcome of or is not able to reasonably estimate the amount or range of possible loss from the above described matter. From time to time, the Company is party to litigation and subject to claims incident to the ordinary course of business. As our growth continues, the Company may become party to an increasing number of litigation matters and claims. The outcome of litigation and claims cannot be predicted with certainty, and the resolution of these matters could materially affect our future results of operations, cash flows, or financial position. The Company is not presently party to any legal proceedings that, in the opinion of management, if determined adversely to the Company, would individually or taken together have a material adverse effect on our business, operating results, financial condition, or cash flows. |
Income Taxes
Income Taxes | 3 Months Ended |
Apr. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income TaxesThe Company computed its interim provision using its estimated annual effective tax rate. The Company’s income tax expense was $1.3 million and $1.0 million during the three months ended April 30, 2021 and 2020, respectively. |
Net Loss Per Share Attributable
Net Loss Per Share Attributable to Common Stockholders | 3 Months Ended |
Apr. 30, 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: Three Months Ended 2021 2020 (In thousands, except per share data) Numerator: Net loss $ (51,491) $ (39,602) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 144,161 136,362 Net loss per share attributable to common stockholders, basic and diluted $ (0.36) $ (0.29) 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: As of April 30, 2021 2020 (In thousands) Stock options 6,236 9,802 RSUs and PSUs 9,789 10,184 Total 16,025 19,986 |
Summary of Business and Signi_2
Summary of Business and Significant Accounting Policies (Policies) | 3 Months Ended |
Apr. 30, 2021 | |
Accounting Policies [Abstract] | |
Description of Business | Description of Business Anaplan, Inc. (the Company, Anaplan, we, us, or our) was incorporated in Delaware on July 9, 2009 and is headquartered in San Francisco, California, with offices in multiple U.S. and international locations. The Company provides a cloud-based Connected Planning platform that helps connect organizations and people to make better and faster decisions. The Company delivers its application over the Internet as a subscription service using a software-as-a-service (SaaS) model. The Company also offers professional services related to implementing and supporting its application. |
Fiscal Year | Fiscal Year The Company’s fiscal year ends on January 31. References to fiscal 2022, for example, refer to the fiscal year ending January 31, 2022. |
Basis of Presentation | Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting and include the accounts of the Company and its wholly owned subsidiaries (collectively, the Company). All significant intercompany balances and transactions have been eliminated in consolidation. The unaudited condensed consolidated balance sheet as of January 31, 2021, included herein was derived from the audited financial statements as of that date, but does not include all disclosures including certain notes required by U.S. GAAP on an annual reporting basis. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of comprehensive loss, statements of stockholders’ equity, and statements of cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year or any future period. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Form 10-K filed with the SEC on March 12, 2021. |
Use of Estimates | Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Such estimates include, but are not limited to, the determination of revenue recognition, certain assumptions in the valuation of stock awards, the determination of the period of benefit for deferred commissions, the determination of the incremental borrowing rate used for operating lease liabilities, the allowance for credit losses, and the fair value of assets acquired and liabilities assumed for business combinations. Actual results could differ from those estimates. The Company continues to assess the impact of COVID-19 and as of the date of filing of these unaudited condensed consolidated financial statements, the Company is not aware of any specific event or circumstance that would require updating significant estimates or judgments or revising the carrying value of the Company's assets or liabilities as presented in the unaudited interim condensed consolidated financial statements. These estimates may change as new events occur and additional information is obtained. Actual results could differ from those estimates and any such differences may be material to our financial statements. |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2019-12, Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes , which simplifies the accounting for income taxes by removing certain exceptions to the general principles of income taxes and reducing the cost and complexity in accounting for income taxes. The guidance is effective for interim and annual periods beginning after December 15, 2020. The adoption of the new standard had no material impact on the Company's condensed consolidated financial statements. |
Consolidated Balance Sheet Co_2
Consolidated Balance Sheet Components (Tables) | 3 Months Ended |
Apr. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Property and Equipment, Net | Property and equipment consisted of the following: As of April 30, January 31, (In thousands) Computer and office equipment $ 62,643 $ 58,231 Leasehold improvements 14,337 14,055 Internal-use software 44,975 41,475 Construction in progress 8,967 6,941 Property and equipment, gross 130,922 120,702 Less: accumulated depreciation (75,860) (69,099) Property and equipment, net $ 55,062 $ 51,603 |
Schedule of Accrued Expenses | Accrued expenses consisted of the following: As of April 30, 2021 January 31, 2021 (In thousands) Vendor accruals $ 10,600 $ 11,262 Accrued commission 8,622 12,521 Accrued bonuses 7,925 15,583 Accrued other payroll liabilities 36,864 31,238 Current portion of finance lease obligations 7,658 8,031 Accrued other 19,212 22,872 Accrued expenses $ 90,881 $ 101,507 |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Apr. 30, 2021 | |
Leases [Abstract] | |
Components of Lease Expense, Supplemental Balance Sheet Information, Lease Term and Discount Rate | The components of lease expense were as follows: Three Months Ended April 30, 2021 2020 (In thousands) Operating lease costs $ 2,434 $ 2,852 Finance lease costs Amortization of assets $ 2,570 $ 1,785 Interest on lease liabilities 145 184 Total finance lease costs $ 2,715 $ 1,969 Supplemental balance sheet information related to leases is as follows: As of April 30, 2021 January 31, 2021 (In thousands) Operating leases: Operating lease ROU assets $ 37,509 $ 33,985 Operating lease liabilities, current portion $ 8,561 $ 7,951 Operating lease liabilities, net of current portion 33,152 30,130 Total operating lease liabilities $ 41,713 $ 38,081 Finance leases: Property and equipment, gross $ 32,041 $ 29,132 Less: accumulated depreciation (18,446) (15,876) Property and equipment, net $ 13,595 $ 13,256 Accrued expenses $ 7,658 $ 8,031 Other noncurrent liabilities 6,346 5,761 Total finance lease liabilities $ 14,004 $ 13,792 Weighted-average lease terms and discount rates are as follows: As of April 30, 2021 Operating Leases Finance Leases Weighted-average remaining lease terms 4.5 years 2.0 years Weighted-average discount rates 5.2% 3.9% |
Future Minimum Operating Lease Payments | Future minimum lease payments under operating leases and finance leases as of April 30, 2021, are as follows: As of April 30, 2021 Operating Leases Finance Leases (In thousands) Years ending January 31, 2022(remaining 9 months) $ 7,554 $ 6,795 2023 10,779 5,339 2024 9,879 2,331 2025 8,317 184 2026 7,855 — Thereafter 2,452 — Total lease payments 46,836 14,649 Less: amount representing interest (4,956) (645) Less: leases less than 12 months (167) — Total lease liabilities $ 41,713 $ 14,004 |
Future Minimum Finance Lease Payments | Future minimum lease payments under operating leases and finance leases as of April 30, 2021, are as follows: As of April 30, 2021 Operating Leases Finance Leases (In thousands) Years ending January 31, 2022(remaining 9 months) $ 7,554 $ 6,795 2023 10,779 5,339 2024 9,879 2,331 2025 8,317 184 2026 7,855 — Thereafter 2,452 — Total lease payments 46,836 14,649 Less: amount representing interest (4,956) (645) Less: leases less than 12 months (167) — Total lease liabilities $ 41,713 $ 14,004 |
Acquisition-Related Intangibl_2
Acquisition-Related Intangible Assets (Tables) | 3 Months Ended |
Apr. 30, 2021 | |
Finite-Lived Intangible Assets, Net [Abstract] | |
Components of Identifiable Intangible Assets Included In Other Noncurrent Assets | The components of identifiable intangible assets included in other noncurrent assets are as follows: As of April 30, 2021 January 31, 2021 (In thousands) Developed technology $ 5,200 $ 5,200 Customer relationships 2,976 2,976 Intangible assets, gross $ 8,176 $ 8,176 Less: accumulated amortization (2,998) (2,663) Intangible assets, net $ 5,178 $ 5,513 |
Summary of Expected Future Intangible Assets Amortization | The expected future intangible assets amortization as of April 30, 2021 is as follows: As of April 30, 2021 (In thousands) Years ending January 31, 2022 (remaining 9 months) $ 1,005 2023 1,340 2024 1,340 2025 993 2026 300 Thereafter 200 Total future intangible assets amortization $ 5,178 |
Employee Stock Plans (Tables)
Employee Stock Plans (Tables) | 3 Months Ended |
Apr. 30, 2021 | |
Retirement Benefits [Abstract] | |
Schedule of Shares Reserved for Future Issuance | As of April 30, 2021 and January 31, 2021, the Company was authorized to issue 1,750,000,000 shares of common stock. Shares were reserved for future issuance as follows: As of April 30, 2021 January 31, 2021 (In thousands) Outstanding stock options 6,236 6,600 Outstanding restricted stock units ("RSUs") and performance-based restricted stock units ("PSUs") 9,789 8,558 Shares available for future issuances under the 2018 Stock Plan 26,692 21,564 Shares available for future issuances under the 2018 ESPP 5,152 3,717 Total 47,869 40,439 |
Summary of Stock Option Activity | A summary of stock option activity for the three months ended April 30, 2021, was as follows: Number of Shares Weighted Average Exercise Price Aggregate Intrinsic Value (In thousands) (In thousands) Balance as of January 31, 2021 6,600 $ 11.83 $ 362,149 Options exercised (357) 5.86 — Options forfeited (7) 6.26 — Balance as of April 30, 2021 6,236 $ 12.18 $ 296,046 Exercisable as of April 30, 2021 6,087 $ 11.80 $ 291,293 Vested and expected to vest as of April 30, 2021 4,542 $ 8.64 $ 231,713 |
Summary of RSU Activity | A summary of RSUs and PSUs activities for the three months ended April 30, 2021, was as follows: Number of Shares Weighted- Average Grant Date Fair Value (In thousands) Balance as of January 31, 2021 8,558 $ 37.15 RSUs and PSUs granted 2,280 61.98 RSUs and PSUs vested (823) 32.62 RSUs and PSUs forfeited (226) 44.03 Balance as of April 30, 2021 9,789 $ 43.15 |
Summary of Stock-Based Compensation Expense, Net of Estimated Forfeitures | The stock-based compensation expense, net of estimated forfeitures, by line item in the accompanying condensed consolidated statements of comprehensive loss is summarized as follows: Three Months Ended April 30, 2021 2020 (In thousands) Cost of subscription revenue $ 1,522 $ 708 Cost of professional services revenue 831 508 Research and development 6,966 3,646 Sales and marketing 16,633 10,031 General and administrative 8,119 7,600 Total stock-based compensation expense $ 34,071 $ 22,493 |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 3 Months Ended |
Apr. 30, 2021 | |
Revenue from Contract with Customer [Abstract] | |
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 cloud-based application: Three Months Ended April 30, 2021 2020 Amount Percentage Amount Percentage (In thousands, except percentage data) Americas $ 71,254 55 % $ 60,070 58 % EMEA 43,658 34 32,843 32 APAC 14,913 11 10,931 10 Total $ 129,825 100 % $ 103,844 100 % |
Net Loss Per Share Attributab_2
Net Loss Per Share Attributable to Common Stockholders (Tables) | 3 Months Ended |
Apr. 30, 2021 | |
Earnings Per Share [Abstract] | |
Schedule of Computation of Basic and Diluted Net Loss Per Share | The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders: Three Months Ended 2021 2020 (In thousands, except per share data) Numerator: Net loss $ (51,491) $ (39,602) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 144,161 136,362 Net loss per share attributable to common stockholders, basic and diluted $ (0.36) $ (0.29) |
Summary of Potential Shares of Common Stock that were Excluded from the Computation of Diluted Net Loss 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: As of April 30, 2021 2020 (In thousands) Stock options 6,236 9,802 RSUs and PSUs 9,789 10,184 Total 16,025 19,986 |
Consolidated Balance Sheet Co_3
Consolidated Balance Sheet Components - Schedule of Property and Equipment Net (Detail) - USD ($) $ in Thousands | Apr. 30, 2021 | Jan. 31, 2021 |
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | $ 130,922 | $ 120,702 |
Less: accumulated depreciation | (75,860) | (69,099) |
Property and equipment, net | 55,062 | 51,603 |
Computer and office equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | 62,643 | 58,231 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | 14,337 | 14,055 |
Internal-use software | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | 44,975 | 41,475 |
Construction in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | $ 8,967 | $ 6,941 |
Consolidated Balance Sheet Co_4
Consolidated Balance Sheet Components - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | ||
Apr. 30, 2021 | Apr. 30, 2020 | Jan. 31, 2021 | |
Consolidated Balance Sheet Components [Line Items] | |||
Depreciation expense | $ 6,600 | $ 5,700 | |
Internal use software capitalized | 4,200 | 3,800 | |
Share based compensation expense | 34,071 | 22,493 | |
Amortization of capitalized internal-use software | $ 2,600 | 2,100 | |
Preferred stock, shares authorized (in shares) | 25,000,000 | 25,000,000 | |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 | |
Preferred stock, shares issued (in shares) | 0 | 0 | |
Preferred stock, shares outstanding (in shares) | 0 | 0 | |
Internal-use software | |||
Consolidated Balance Sheet Components [Line Items] | |||
Share based compensation expense | $ 1,100 | $ 1,000 |
Consolidated Balance Sheet Co_5
Consolidated Balance Sheet Components - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands | Apr. 30, 2021 | Jan. 31, 2021 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Vendor accruals | $ 10,600 | $ 11,262 |
Accrued commission | 8,622 | 12,521 |
Accrued bonuses | 7,925 | 15,583 |
Accrued other payroll liabilities | 36,864 | 31,238 |
Current portion of finance lease obligations | 7,658 | 8,031 |
Accrued other | 19,212 | 22,872 |
Accrued expenses | $ 90,881 | $ 101,507 |
Bank Borrowing - Additional Inf
Bank Borrowing - Additional Information (Detail) - Third Amendment - Wells Fargo - Revolving credit facility - USD ($) | 1 Months Ended | ||
Apr. 30, 2020 | Apr. 30, 2021 | Jan. 31, 2021 | |
Debt Instrument [Line Items] | |||
Aggregate revolving credit commitment amount increase | $ 20,000,000 | ||
Credit facility maximum borrowing capacity | $ 60,000,000 | ||
Credit facility current borrowing balance | $ 0 | $ 0 | |
Fed funds effective rate overnight index swap rate | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 0.50% | ||
One-month LIBOR | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 1.00% |
Leases - Components of Lease Ex
Leases - Components of Lease Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
Leases [Abstract] | ||
Operating lease costs | $ 2,434 | $ 2,852 |
Finance lease costs | ||
Amortization of assets | 2,570 | 1,785 |
Interest on lease liabilities | 145 | 184 |
Total finance lease costs | $ 2,715 | $ 1,969 |
Leases - Schedule of Supplement
Leases - Schedule of Supplemental Balance Sheet Information Related To Leases (Detail) - USD ($) $ in Thousands | Apr. 30, 2021 | Jan. 31, 2021 |
Operating leases: | ||
Operating lease ROU assets | $ 37,509 | $ 33,985 |
Operating lease liabilities, current portion | 8,561 | 7,951 |
Operating lease liabilities, net of current portion | 33,152 | 30,130 |
Total operating lease liabilities | 41,713 | 38,081 |
Finance leases: | ||
Property and equipment, gross | 32,041 | 29,132 |
Less: accumulated depreciation | (18,446) | (15,876) |
Property and equipment, net | $ 13,595 | $ 13,256 |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | Property and equipment, net | Property and equipment, net |
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] | Accrued expenses | Accrued expenses |
Accrued expenses | $ 7,658 | $ 8,031 |
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] | Other noncurrent liabilities | Other noncurrent liabilities |
Other noncurrent liabilities | $ 6,346 | $ 5,761 |
Total finance lease liabilities | $ 14,004 | $ 13,792 |
Leases - Weighted-Average Lease
Leases - Weighted-Average Lease Term and Discount Rate (Detail) | Apr. 30, 2021 |
Weighted-average remaining lease terms | |
Operating Leases | 4 years 6 months |
Finance Leases | 2 years |
Weighted-average discount rates | |
Operating Leases | 5.20% |
Finance Leases | 3.90% |
Leases - Schedule of Future Min
Leases - Schedule of Future Minimum Lease Payments Under Operating Leases and Finance Leases (Detail) - USD ($) $ in Thousands | Apr. 30, 2021 | Jan. 31, 2021 |
Operating Leases, Years ending January 31, | ||
2022 (remaining 9 months) | $ 7,554 | |
2023 | 10,779 | |
2024 | 9,879 | |
2025 | 8,317 | |
2026 | 7,855 | |
Thereafter | 2,452 | |
Total lease payments | 46,836 | |
Less: amount representing interest | (4,956) | |
Less: leases less than 12 months | (167) | |
Total lease liabilities | 41,713 | $ 38,081 |
Finance Leases, Years ending January 31, | ||
2022 (remaining 9 months) | 6,795 | |
2023 | 5,339 | |
2024 | 2,331 | |
2025 | 184 | |
2026 | 0 | |
Thereafter | 0 | |
Total lease payments | 14,649 | |
Less: amount representing interest | (645) | |
Less: leases less than 12 months | 0 | |
Total lease liabilities | $ 14,004 | $ 13,792 |
Leases - Additional Information
Leases - Additional Information (Detail) - Computer and office equipment $ in Millions | Apr. 30, 2021USD ($) |
Lease liabilities | $ 4.4 |
Lease payment term | 3 years |
Acquisition-Related Intangibl_3
Acquisition-Related Intangible Assets - Components of Identifiable Intangible Assets Included In Other Noncurrent Assets (Detail) - USD ($) $ in Thousands | Apr. 30, 2021 | Jan. 31, 2021 |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 8,176 | $ 8,176 |
Less: accumulated amortization | (2,998) | (2,663) |
Intangible assets, net | 5,178 | 5,513 |
Developed technology | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | 5,200 | 5,200 |
Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 2,976 | $ 2,976 |
Acquisition-Related Intangibl_4
Acquisition-Related Intangible Assets - Summary of Expected Future Intangible Assets Amortization (Detail) - USD ($) $ in Thousands | Apr. 30, 2021 | Jan. 31, 2021 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ||
2022 (remaining 9 months) | $ 1,005 | |
2023 | 1,340 | |
2024 | 1,340 | |
2025 | 993 | |
2026 | 300 | |
Thereafter | 200 | |
Intangible assets, net | $ 5,178 | $ 5,513 |
Employee Stock Plans - Addition
Employee Stock Plans - Additional Information (Detail) $ in Millions | 3 Months Ended | |
Apr. 30, 2021USD ($)shares | Jan. 31, 2021shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Common stock, shares authorized (in shares) | shares | 1,750,000,000 | 1,750,000,000 |
Stock options | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unrecognized stock-based compensation | $ 12 | |
Unrecognized stock based compensation, weighted-average period | 1 year 10 months 24 days | |
Restricted stock units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unrecognized stock based compensation, weighted-average period | 3 years | |
Unrecognized stock-based compensation cost related to outstanding unvested RSUs expected to vest | $ 293.5 | |
Performance stock units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unrecognized stock based compensation, weighted-average period | 2 years 2 months 12 days | |
Cost of nonvested award not yet recognized | $ 12.8 | |
Performance stock units | Minimum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Amount granted | 0 | |
Performance stock units | Maximum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Amount granted | 2 | |
Performance stock units | Tranche one | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Requisite service period | 1 year | |
Performance stock units | Tranche two | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Requisite service period | 2 years | |
Performance stock units | Tranche three | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Requisite service period | 3 years |
Employee Stock Plans - Schedule
Employee Stock Plans - Schedule of Shares Reserved for Future Issuance (Detail) - shares shares in Thousands | Apr. 30, 2021 | Jan. 31, 2021 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance | 47,869 | 40,439 |
Stock options | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance | 6,236 | 6,600 |
RSUs and PSUs | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance | 9,789 | 8,558 |
2018 Stock Plan | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance | 26,692 | 21,564 |
2018 ESPP | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance | 5,152 | 3,717 |
Employee Stock Plans - Summary
Employee Stock Plans - Summary of Stock Option Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended |
Apr. 30, 2021USD ($)$ / sharesshares | |
Number of Shares | |
Beginning balance (in shares) | shares | 6,600 |
Exercised (in shares) | shares | (357) |
Forfeited (in shares) | shares | (7) |
Ending balance (in shares) | shares | 6,236 |
Exercisable (in shares) | shares | 6,087 |
Vested and expected to vest (in shares) | shares | 4,542 |
Weighted Average Exercise Price | |
Beginning balance (in dollars per share) | $ / shares | $ 11.83 |
Exercised (in dollars per share) | $ / shares | 5.86 |
Forfeited (in dollars per share) | $ / shares | 6.26 |
Ending balance (in dollars per share) | $ / shares | 12.18 |
Exercisable (in dollars per share) | $ / shares | 11.80 |
Vested and expected to vest (in dollars per share) | $ / shares | $ 8.64 |
Aggregate Intrinsic Value | |
Beginning balance | $ | $ 362,149 |
Ending balance | $ | 296,046 |
Exercisable | $ | 291,293 |
Vested and expected to vest | $ | $ 231,713 |
Employee Stock Plans - Summar_2
Employee Stock Plans - Summary of RSU Activity (Detail) - RSUs and PSUs shares in Thousands | 3 Months Ended |
Apr. 30, 2021$ / sharesshares | |
Number of Shares | |
Beginning balance (in shares) | shares | 8,558 |
Granted (in shares) | shares | 2,280 |
Vested (in shares) | shares | (823) |
Forfeited (in shares) | shares | (226) |
Ending balance (in shares) | shares | 9,789 |
Weighted- Average Grant Date Fair Value | |
Beginning balance (in dollars per share) | $ / shares | $ 37.15 |
Granted (in dollars per share) | $ / shares | 61.98 |
Vested (in dollars per share) | $ / shares | 32.62 |
Forfeited (in dollars per share) | $ / shares | 44.03 |
Ending balance (in dollars per share) | $ / shares | $ 43.15 |
Employee Stock Plans - Summar_3
Employee Stock Plans - Summary of Stock-Based Compensation Expense, Net of Estimated Forfeitures (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation expense | $ 34,071 | $ 22,493 |
Subscription revenue | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation expense | 1,522 | 708 |
Professional services revenue | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation expense | 831 | 508 |
Research and development | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation expense | 6,966 | 3,646 |
Sales and marketing | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation expense | 16,633 | 10,031 |
General and administrative | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation expense | $ 8,119 | $ 7,600 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Apr. 30, 2021 | Apr. 30, 2020 | Jan. 31, 2021 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Transfers of assets from level 1 into level 2 | $ 0 | $ 0 | |
Transfers of assets out of level 2 to level 1 | 0 | 0 | |
Transfers of liabilities from level 1 into level 2 | 0 | 0 | |
Transfers of liabilities out of level 2 to level 1 | 0 | 0 | |
Transfers of assets into level 3 | 0 | 0 | |
Transfers of assets out of level 3 | 0 | 0 | |
Transfers of liabilities into level 3 | 0 | 0 | |
Transfers of liabilities out of level 3 | 0 | $ 0 | |
Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets measured at fair value | 0 | $ 0 | |
Liabilities measured at fair value | 0 | 0 | |
Fair Value, Measurements, Recurring | Money market funds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets measured at fair value | $ 252,400,000 | $ 240,000,000 |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Revenue by Geographical Region Based of Customer (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 129,825 | $ 103,844 |
Operating segments | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 129,825 | $ 103,844 |
Percentage of Revenue | 100.00% | 100.00% |
Operating segments | Americas | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 71,254 | $ 60,070 |
Percentage of Revenue | 55.00% | 58.00% |
Operating segments | EMEA | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 43,658 | $ 32,843 |
Percentage of Revenue | 34.00% | 32.00% |
Operating segments | APAC | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 14,913 | $ 10,931 |
Percentage of Revenue | 11.00% | 10.00% |
Revenue Recognition - Additiona
Revenue Recognition - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Apr. 30, 2021 | Apr. 30, 2020 | Jan. 31, 2021 | |
Total revenue | $ 129,825 | $ 103,844 | |
Contract assets | 200 | $ 300 | |
Deferred revenue recognized | $ 107,300 | $ 88,600 | |
United States and United Kingdom | Minimum | |||
Percentage of Revenue | 10.00% | 10.00% | |
United States | |||
Percentage of Revenue | 52.00% | 56.00% | |
Total revenue | $ 68,000 | $ 57,700 | |
United Kingdom | |||
Percentage of Revenue | 12.00% | 12.00% | |
Total revenue | $ 15,700 | $ 12,000 |
Revenue Recognition - Performan
Revenue Recognition - Performance Obligation (Detail) - USD ($) $ in Millions | Apr. 30, 2021 | Jan. 31, 2021 |
Remaining performance obligation | $ 832.3 | $ 817.6 |
Billed revenues | ||
Remaining performance obligation | $ 292.7 | $ 295.5 |
Billed revenues | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-02-01 | ||
Remaining performance obligation percentage | 51.00% | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 12 months | |
Billed revenues | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-05-01 | ||
Remaining performance obligation percentage | 53.00% | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 12 months | |
Unbilled revenues | ||
Remaining performance obligation | $ 539.6 | $ 522.1 |
Unbilled revenues | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-02-01 | ||
Remaining performance obligation percentage | 83.00% | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 24 months | |
Unbilled revenues | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-05-01 | ||
Remaining performance obligation percentage | 84.00% | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 24 months |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
Income Tax Disclosure [Abstract] | ||
Income tax expenses | $ 1,258 | $ 1,022 |
Net Loss Per Share Attributab_3
Net Loss Per Share Attributable to Common Stockholders - Schedule of Computation of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
Numerator: | ||
Net loss | $ (51,491) | $ (39,602) |
Denominator: | ||
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares) | 144,161 | 136,362 |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (0.36) | $ (0.29) |
Net Loss Per Share Attributab_4
Net Loss Per Share Attributable to Common Stockholders - Summary of Potential Shares of Common Stock That Were Excluded From the Computation of Diluted Net Loss Per Share Attributable to Common Stockholders (Detail) - shares shares in Thousands | 3 Months Ended | |
Apr. 30, 2021 | Apr. 30, 2020 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities that were not included in the diluted per share calculation (in shares) | 16,025 | 19,986 |
Stock options | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities that were not included in the diluted per share calculation (in shares) | 6,236 | 9,802 |
RSUs and PSUs | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities that were not included in the diluted per share calculation (in shares) | 9,789 | 10,184 |
Uncategorized Items - plan-2021
Label | Element | Value |
Accounting Standards Update [Extensible List] | us-gaap_AccountingStandardsUpdateExtensibleList | us-gaap:AccountingStandardsUpdate201613Member |