Audit Information
Audit Information | 12 Months Ended |
Jan. 31, 2022 | |
Auditor Information [Abstract] | |
Auditor Name | KPMG LLP |
Auditor Location | San Francisco, California |
Auditor Firm ID | 185 |
Document and Entity Information
Document and Entity Information - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Jan. 31, 2022 | Mar. 16, 2022 | Jul. 30, 2021 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Jan. 31, 2022 | ||
Current Fiscal Year End Date | --01-31 | ||
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, par value $0.0001 per share | ||
Trading Symbol | PLAN | ||
Security Exchange Name | NYSE | ||
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 | $ 8,120 | ||
Entity Common Stock, Shares Outstanding | 150.2 | ||
Documents Incorporated by Reference | Portions of the Registrant’s definitive Proxy Statement for the Registrant’s 2022 Annual Meeting of Stockholders are incorporated by reference in Part III of this Annual Report on Form 10-K to the extent stated herein. The Proxy Statement will be filed with the Securities and Exchange Commission pursuant to Regulation 14A within 120 days of the Registrant’s fiscal year ended January 31, 2022 . | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2022 | ||
Document Fiscal Period Focus | FY | ||
Entity Central Index Key | 0001540755 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 299,371 | $ 320,990 |
Accounts receivable, net of allowances for credit losses of $3,224 and $3,162 as of January 31, 2022 and 2021, respectively | 196,500 | 147,005 |
Deferred commissions, current portion | 49,124 | 36,797 |
Prepaid expenses and other current assets | 32,814 | 24,252 |
Total current assets | 577,809 | 529,044 |
Property and equipment, net | 63,119 | 51,603 |
Deferred commissions, net of current portion | 110,044 | 82,405 |
Goodwill | 32,379 | 32,379 |
Operating lease right-of-use assets | 31,287 | 33,985 |
Other noncurrent assets | 17,997 | 9,709 |
TOTAL ASSETS | 832,635 | 739,125 |
Current liabilities: | ||
Accounts payable | 9,294 | 7,949 |
Accrued expenses | 123,891 | 101,507 |
Deferred revenue, current portion | 378,882 | 287,778 |
Operating lease liabilities, current portion | 10,400 | 7,951 |
Total current liabilities | 522,467 | 405,185 |
Deferred revenue, net of current portion | 3,271 | 7,765 |
Operating lease liabilities, net of current portion | 26,046 | 30,130 |
Other noncurrent liabilities | 18,150 | 18,032 |
TOTAL LIABILITIES | 569,934 | 461,112 |
Commitments and contingencies (Note 8) | ||
Stockholders' equity: | ||
Common stock, par value of $0.0001 per share; 1,750,000 shares authorized as of January 31, 2022 and 2021; 149,089 and 143,502 shares issued and outstanding as of January 31, 2022 and 2021, respectively | 15 | 14 |
Accumulated other comprehensive loss | (7,696) | (7,528) |
Additional paid-in capital | 1,120,959 | 932,505 |
Accumulated deficit | (850,577) | (646,978) |
TOTAL STOCKHOLDERS' EQUITY | 262,701 | 278,013 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 832,635 | $ 739,125 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Accounts receivable, allowances for doubtful accounts | $ 3,224 | $ 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) | 149,089,000 | 143,502,000 |
Common stock, shares outstanding (in shares) | 149,089,000 | 143,502,000 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Revenue: | |||
Total revenue | $ 592,176 | $ 447,755 | $ 348,022 |
Cost of revenue: | |||
Total cost of revenue | 156,341 | 108,979 | 90,777 |
Gross profit | 435,835 | 338,776 | 257,245 |
Operating expenses: | |||
Research and development | 153,484 | 100,523 | 68,396 |
Sales and marketing | 377,352 | 302,002 | 250,430 |
General and administrative | 105,709 | 90,030 | 86,852 |
Total operating expenses | 636,545 | 492,555 | 405,678 |
Loss from operations | (200,710) | (153,779) | (148,433) |
Interest income (expense), net | (493) | 167 | 4,478 |
Other income (expense), net | (6,482) | 3,736 | (809) |
Loss before income taxes | (207,685) | (149,876) | (144,764) |
Benefit from (provision for) income taxes | 4,086 | (4,091) | (4,453) |
Net loss | (203,599) | (153,967) | (149,217) |
Comprehensive loss: | |||
Foreign currency translation adjustments | (168) | (3,202) | (1,290) |
Comprehensive loss | $ (203,767) | $ (157,169) | $ (150,507) |
Net loss per share attributable to common stockholders, basic (in dollars per share) | $ (1.39) | $ (1.10) | $ (1.15) |
Net loss per share attributable to common stockholders, diluted (in dollars per share) | $ (1.39) | $ (1.10) | $ (1.15) |
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) | 146,263 | 139,499 | 129,799 |
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) | 146,263 | 139,499 | 129,799 |
Subscription revenue | |||
Revenue: | |||
Total revenue | $ 536,474 | $ 408,199 | $ 307,890 |
Cost of revenue: | |||
Total cost of revenue | 99,030 | 69,802 | 51,460 |
Professional services revenue | |||
Revenue: | |||
Total revenue | 55,702 | 39,556 | 40,132 |
Cost of revenue: | |||
Total cost of revenue | $ 57,311 | $ 39,177 | $ 39,317 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands | Total | Cumulative adjustment upon adoption of ASC 326 (Note 1) | Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Loss | Accumulated Deficit | Accumulated DeficitCumulative adjustment upon adoption of ASC 326 (Note 1) |
Beginning balance (in shares) at Jan. 31, 2019 | 126,246 | ||||||
Beginning balance at Jan. 31, 2019 | $ 307,478 | $ 12 | $ 653,738 | $ (3,036) | $ (343,236) | ||
Accounting Standards Update [Extensible List] | Accounting Standards Update 2016-13 [Member] | ||||||
Stock-based compensation | $ 82,355 | 82,355 | |||||
Repayment of promissory notes, net of early exercises | 11,813 | 11,813 | |||||
Exercise of stock options, net of repurchases and early exercises (in shares) | 4,619 | ||||||
Exercise of stock options, net of repurchases and early exercises | 21,977 | $ 1 | 21,976 | ||||
Vesting of restricted stock units (in shares) | 3,454 | ||||||
Issuance of common stock under employee stock purchase plan (in shares) | 1,176 | ||||||
Issuance of common stock under employee stock purchase plan | 18,565 | 18,565 | |||||
Net loss | (149,217) | (149,217) | |||||
Foreign currency translation adjustments | (1,290) | (1,290) | |||||
Ending balance (in shares) at Jan. 31, 2020 | 135,495 | ||||||
Ending balance at Jan. 31, 2020 | 291,681 | $ (558) | $ 13 | 788,447 | (4,326) | (492,453) | $ (558) |
Stock-based compensation | 107,501 | 107,501 | |||||
Exercise of stock options, net of repurchases and early exercises (in shares) | 2,916 | ||||||
Exercise of stock options, net of repurchases and early exercises | 18,855 | $ 1 | 18,854 | ||||
Vesting of restricted stock units (in shares) | 4,666 | ||||||
Issuance of common stock under employee stock purchase plan (in shares) | 425 | ||||||
Issuance of common stock under employee stock purchase plan | 17,678 | 17,678 | |||||
Net loss | (153,967) | (153,967) | |||||
Foreign currency translation adjustments | (3,202) | (3,202) | |||||
Other | 25 | 25 | |||||
Ending balance (in shares) at Jan. 31, 2021 | 143,502 | ||||||
Ending balance at Jan. 31, 2021 | 278,013 | $ 14 | 932,505 | (7,528) | (646,978) | ||
Stock-based compensation | 155,337 | 155,337 | |||||
Exercise of stock options, net of repurchases and early exercises (in shares) | 1,377 | ||||||
Exercise of stock options, net of repurchases and early exercises | 13,440 | $ 1 | 13,439 | ||||
Vesting of restricted stock units (in shares) | 3,733 | ||||||
Issuance of common stock under employee stock purchase plan (in shares) | 477 | ||||||
Issuance of common stock under employee stock purchase plan | 19,678 | 19,678 | |||||
Net loss | (203,599) | (203,599) | |||||
Foreign currency translation adjustments | (168) | (168) | |||||
Ending balance (in shares) at Jan. 31, 2022 | 149,089 | ||||||
Ending balance at Jan. 31, 2022 | $ 262,701 | $ 15 | $ 1,120,959 | $ (7,696) | $ (850,577) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net loss | $ (203,599) | $ (153,967) | $ (149,217) |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation and amortization | 28,511 | 25,831 | 20,341 |
Amortization of deferred commissions | 42,635 | 33,404 | 20,508 |
Stock-based compensation | 149,545 | 103,626 | 80,046 |
Reduction of operating lease right-of-use assets and accretion of operating lease liabilities | 10,056 | 10,060 | 10,748 |
Foreign currency remeasurement losses (gains) | 4,912 | (4,178) | (516) |
Release of deferred tax valuation allowance | (7,639) | 0 | 0 |
Other non-cash items | 1,311 | 3,100 | 1,077 |
Changes in operating assets and liabilities: | |||
Accounts receivable | (51,853) | (39,947) | (16,313) |
Prepaid expenses and other current assets | (8,775) | (6,128) | (4,266) |
Other noncurrent assets | (2,027) | (1,017) | (1,419) |
Deferred commissions | (85,736) | (65,639) | (53,978) |
Accounts payable and accrued expenses | 25,120 | 21,163 | 19,550 |
Deferred revenue | 90,671 | 71,751 | 67,478 |
Payments for operating lease liabilities, net | (9,635) | (9,252) | (10,435) |
Other noncurrent liabilities | 1,420 | 6,562 | 1,991 |
Net cash used in operating activities | (15,083) | (4,631) | (14,405) |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchase of property and equipment | (10,378) | (5,680) | (3,991) |
Capitalized internal-use software | (13,735) | (10,063) | (11,023) |
Business combinations, net of acquired cash | 0 | 0 | (33,492) |
Net cash used in investing activities | (24,113) | (15,743) | (48,506) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Proceeds from exercise of stock options | 13,422 | 18,834 | 21,859 |
Proceeds from repayment of promissory notes | 0 | 0 | 11,526 |
Proceeds from employee stock purchase plan | 19,678 | 17,678 | 18,565 |
Principal payments on finance lease obligations | (9,772) | (8,680) | (5,444) |
Net cash provided by financing activities | 23,328 | 27,832 | 46,506 |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (5,751) | 3,638 | (564) |
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS,AND RESTRICTED CASH | (21,619) | 11,096 | (16,969) |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH - Beginning of period | 320,990 | 309,894 | 326,863 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH - End of period | 299,371 | 320,990 | 309,894 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | |||
Cash paid for interest | 494 | 725 | 826 |
Cash paid for income taxes | 1,628 | 2,317 | 945 |
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES: | |||
Increase in purchases of property and equipment included in liabilities | 29 | 19 | 1,331 |
Finance leases for property and equipment | $ 10,552 | $ 7,775 | $ 7,232 |
Summary of Business and Signifi
Summary of Business and Significant Accounting Policies | 12 Months Ended |
Jan. 31, 2022 | |
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 ended January 31, 2022. Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) 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. Use of Estimates The preparation of 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 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, and the allowance for credit losses. Actual results could differ from those estimates. As of the filing date of 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 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 its consolidated financial statements. Foreign Currency The functional currency of the Company’s foreign subsidiaries is primarily their respective local currency. The Company translates all assets and liabilities of foreign subsidiaries to U.S. dollars at the current exchange rate as of the applicable consolidated balance sheet date. Revenue and expenses are translated at the average exchange rate prevailing during the period. The related unrealized gains and losses from foreign currency translation are recorded in accumulated other comprehensive loss as a separate component of stockholders’ equity. The Company recorded foreign currency transaction losses of $6.7 million, gains of $3.8 million and losses of $0.4 million for fiscal 2022, 2021, and 2020, respectively, in other income (expense), net on the consolidated statements of comprehensive loss. Cash and Cash Equivalents and Restricted Cash The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents are stated at fair value. Restricted cash represents cash held to collateralize lease obligations. The balance of restricted cash at the end of fiscal 2022 and 2021 was immaterial. Fair Value Measurement The Company’s financial instruments, other than cash and restricted cash, consists principally of accounts receivable and accounts payable of which the fair value approximates the carrying value of these financial instruments because of their short-term nature. Property and Equipment, net Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets, which is two Goodwill, Intangible Assets and Other Long-Lived Assets The Company performs a qualitative assessment on goodwill at least annually, during the fourth quarter, or more frequently if indicators of potential impairment exist, to determine if any events or circumstances exist, such as an adverse change in business climate or a decline in the overall industry that would indicate that it would more likely than not reduce the fair value of a reporting unit below its carrying amount. If it is determined in the qualitative assessment that the fair value of a reporting unit is more likely than not below its carrying amount, then the Company will perform a quantitative impairment test. The quantitative goodwill impairment test is performed by comparing the fair value of a reporting unit with its carrying amount. Any excess in the carrying value of a reporting unit’s goodwill over its fair value is recognized as an impairment loss, limited to the total amount of goodwill allocated to that reporting unit. For purposes of goodwill impairment testing, the Company has one reporting unit. Acquisition-related intangible assets with finite lives are amortized over their estimated useful lives. The Company evaluates long-lived assets, including property, equipment and leasehold improvements and other intangible assets subject to amortization, for recoverability whenever events or changes in circumstances indicate that the carrying value of an asset or asset group may not be recoverable based on expected future cash flows attributable to that asset or asset group. Recoverability of assets held and used is measured by comparison of the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset or asset group exceeds estimated undiscounted future cash flows, then an impairment charge would be recognized based on the excess of the carrying amount of the asset or asset group over its fair value. Assets to be disposed of are reported at the lower of their carrying amount or fair value less costs to sell. There were no material impairment charges recognized related to goodwill, intangible assets, or other long-lived assets during fiscal 2022, 2021, and 2020. Leases The Company determines if an arrangement is a lease at inception. The Company’s lease agreements do not contain any material options to extend or terminate leases, any material residual value guarantees, any material restrictions or covenants, or any material variable lease payments. Any variable lease payments consist of common area maintenance, taxes and other costs and are expensed as incurred. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized based on the present value of lease payments over the lease term at the commencement date. In determining the present value of lease payments, the Company uses its country specific incremental borrowing rate based on the information available at the lease commencement date, including the lease term, for operating leases. The incremental borrowing rate is a hypothetical rate based on the Company’s understanding of what its credit rating would be within each country. The operating lease ROU asset was valued at the amount of the lease liabilities adjusted for the remaining balance of unamortized lease incentives, prepaid rent, and deferred rent. Finance lease ROU assets and liabilities are recognized based on the carrying amount of the lease assets and lease liabilities. The finance lease ROU asset also includes any remaining unamortized initial direct costs. Lease expense is recognized on a straight-line basis over the lease term. Concentration of Risk and Significant Customers Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, and accounts receivable. The Company maintains its cash, cash equivalents, and restricted cash with high-quality financial institutions with investment-grade ratings. A majority of the cash balances are with U.S. banks and are insured to the extent defined by the Federal Deposit Insurance Corporation. The Company markets its subscription and services in the United States and in foreign countries through its direct sales force and partners. No customer accounted for more than 10% of total revenue for fiscal 2022, 2021, and 2020, or more than 10% of total accounts receivable as of January 31, 2022 and 2021. Segment Information The Company operates in one operating segment. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker, who is the chief executive officer, in deciding how to allocate resources and assessing performance. The Company’s chief operating decision maker allocates resources and assesses performance based upon discrete financial information at the consolidated level. The following table summarizes the Company’s long-lived assets by geographic area, which consist of property and equipment, net and operating lease right-of-use assets: As of January 31, 2022 2021 (In thousands) Long-lived assets United States $ 53,409 $ 61,111 United Kingdom 30,141 17,862 Other 10,856 6,615 Total $ 94,406 $ 85,588 Revenue by geographical region is discussed below in the Revenue Recognition disclosures. Accounts Receivable, net The Company adopted Accounting Standards Codification Topic 326 (ASC 326), Financial Instruments – Credit Losses, effective February 1, 2020 using a modified retrospective approach. Under ASC 326, accounts receivable are recorded at the invoiced amount, net of allowance for credit losses. The Company regularly reviews the adequacy of the allowance for credit losses based on a combination of factors. In establishing any required allowance, management considers historical losses adjusted for current market conditions, the Company’s customers’ financial condition, the amount of any receivables in dispute, the current receivables aging, current payment terms and expectations of forward-looking loss estimates. Accounts receivable deemed uncollectable are charged against the allowance for credit losses when identified. The allowance for credit losses was $3.2 million as of January 31, 2022 and 2021. 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. The Company determines revenue recognition through the following steps: 1. Identification of the contract, or contracts, with the customer 2. Identification of the performance obligations in the contract 3. Determination of the transaction price 4. Allocation of the transaction price to the performance obligations in the contract 5. Recognition of the revenue when, or as, a performance obligation is satisfied Subscription Revenue The Company generates revenue primarily from sales of subscriptions to access its cloud-based business and execution planning platform. Subscription arrangements with customers do not provide the customer with the right to take possession of the software operating the platform. Instead, customers are granted continuous access to the platform over the contractual period. A time-elapsed method is used to measure progress because the Company’s obligation is to provide continuous service over the contractual period. Accordingly, the fixed consideration related to subscription revenue is recognized ratably over the contract term beginning on the date access to the platform is provided. The typical subscription term is two to three years and customers are generally invoiced in annual installments at the beginning of each year within the subscription period. Most contracts are non-cancelable over the contractual term. Some customers have the option to purchase additional subscription services at a stated price. These options are evaluated on a case-by-case basis but generally do not provide a material right as they are priced within a range of prices provided to other customers for the same products and, as such, would not result in a separate performance obligation. Professional Services Revenue Professional services revenue consists of fees associated with implementation or consultation services, and training. Professional services do not result in significant customization of the subscription service and are considered distinct. A substantial majority of the professional service contracts are recognized on a time and materials basis and the related revenue is recognized as the service hours are performed. For time and materials projects, the Company invoices for professional services as the work is incurred and in arrears. Contracts with Multiple Performance Obligations Most contracts with customers contain multiple performance obligations that are distinct and accounted for separately. The transaction price is allocated to the separate performance obligations on a relative standalone selling price (SSP) basis. The Company determines SSP for all performance obligations using observable inputs, such as standalone sales and historical contract pricing. SSP is consistent with the Company’s overall pricing objectives, taking into consideration the type of subscription services and professional and other services. SSP also reflects the amount the Company would charge for that performance obligation if it were sold separately in a standalone sale, and the price the Company would sell to similar customers in similar circumstances. Variable Consideration Revenue from sales is recorded based on the transaction price, which includes estimates of variable consideration. Variable consideration may exist where a customer has purchased professional services that are sold on a time and materials basis. The Company estimates the number of hours expected to be incurred based on an expected values approach that considers historical hours incurred for similar projects based on the types and sizes of customers. 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: Year Ended January 31, 2022 2021 2020 Amount Percentage Amount Percentage Amount Percentage (In thousands, except percentage data) Americas $ 327,221 55 % $ 253,775 57 % $ 205,345 59 % EMEA 196,362 33 144,260 32 110,057 32 APAC 68,593 12 49,720 11 32,620 9 Total $ 592,176 100 % $ 447,755 100 % $ 348,022 100 % The United States and the United Kingdom were the only two countries that represented more than 10% of the Company’s revenues in any period, comprised of $314.0 million and 53% , $243.7 million and 54%, and $197.6 million and 57% for the United States in fiscal 2022, 2021, and 2020, respectively, and $72.7 million and 12% , $53.3 million and 12%, and $41.5 million and 12% for the United Kingdom in fiscal 2022, 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 January 31, 2022 and 2021, respectively, which were included within prepaid expenses and other current assets on the 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 fiscal 2022, 2021, and 2020 that was included in deferred revenue at the beginning of each period was $287.8 million, $216.1 million, and $149.6 million, respectively. Deferred Commissions The Company capitalizes sales commissions that are incremental due to the acquisition of customer contracts. These costs are recorded as deferred commissions on the consolidated balance sheets. The Company determines whether costs should be deferred based on its sales compensation plans, if the commissions are in fact incremental and would not have occurred absent the customer contract. Sales commissions for renewal of a subscription contract are not considered commensurate with the commissions paid for the acquisition of the initial subscription contract given the substantive difference in commission rates between new and renewal contracts. Commissions paid upon the initial acquisition of a contract are amortized over an estimated period of benefit of five years, while commissions paid related to renewal contracts are amortized over the renewal term. Amortization is recognized on a straight-line basis commensurate with the pattern of revenue recognition. Commissions paid on professional services are typically expensed as incurred. The Company determines the period of benefit for commissions paid for the acquisition of the initial subscription contract by taking into consideration the historical initial and renewal contractual terms and estimated renewal rates. The Company determines the period of benefit for renewal subscription contracts by considering the average contractual term for renewal contracts. Amortization of deferred commissions is included in sales and marketing expense in the consolidated statements of comprehensive loss. The Company periodically reviews deferred commissions to determine whether events or changes in circumstances have occurred that could impact the period of benefit. There were no impairment losses recorded during the periods presented. The following table represents a rollforward of the Company’s deferred commissions: As of January 31, 2022 2021 (In thousands) Beginning balance $ 119,202 $ 83,937 Additions to deferred commissions 85,736 65,639 Amortization of deferred commissions (42,635) (33,404) Foreign currency translation effect of deferred commissions (3,135) 3,030 Ending balance $ 159,168 $ 119,202 Deferred commissions, current (to be recognized in next 12 months) 49,124 36,797 Deferred commissions, net of current portion 110,044 82,405 Total deferred commissions $ 159,168 $ 119,202 Remaining Performance Obligations As of January 31, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations was $1,092.5 million , which consists of both billed consideration in the amount of $382.2 million and unbilled consideration in the amount of $710.3 million that the Company expects to recognize as revenue. The Company expects to cumulatively recognize approximately 50% and 82% 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. Cost of Revenue Cost of Subscription Revenue Cost of subscription revenue primarily consists of costs related to providing cloud applications, compensation and other employee-related expenses for data center staff, payments to outside service providers, customer service, data center and networking expenses, depreciation expenses, and amortization of capitalized software development costs. Cost of Professional Services Revenue Cost of professional services primarily consists of costs related to providing implementation services, optimization services, and training, and includes compensation and other employee-related expenses for professional services staff, costs of subcontractors, and travel. Advertising Costs Advertising costs are expensed as incurred in sales and marketing expense and amounted to $13.1 million , $13.7 million, and $17.7 million for fiscal 2022, 2021, and 2020, respectively. Stock-Based Compensation Prior to the Initial Public Offering (IPO), the Company’s board of directors determined the fair value of its common stock using various valuation methodologies, including valuation analyses performed by third-party valuation firms. After the IPO, the Company uses the publicly quoted market closing price as reported on the New York Stock Exchange as the fair value of its common stock. The Company measures the cost of employee services received in exchange for an award of equity instruments, including stock options, restricted stock units (RSUs), performance-based restricted stock units (PSUs), and purchase rights issued under the 2018 Employee Stock Purchase Plan (ESPP), based on the estimated grant-date fair value of the award. The Company calculates the fair value of options and the purchase rights issued under ESPP using the Black-Scholes option-pricing model and the related expense is recognized using the straight-line attribution approach. The vesting period is the period the employee is required to provide service in exchange for the award. The Company’s RSUs granted after the IPO under the 2018 Equity Incentive Plan (2018 Plan) vest upon the satisfaction of a service condition and do not have a corresponding liquidity condition. Stock-based compensation expense includes the impact of estimated forfeitures, and has been allocated between cost of revenue and operating expense lines based on the cost category of the respective award holders. Income Taxes Income taxes are accounted for under the asset-and-liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company records a valuation allowance to reduce its deferred tax assets to the net amount that the Company believes is more likely than not to be realized. In assessing the need for a valuation allowance, the Company has considered its historical levels of income, expectations of future taxable income and ongoing tax planning strategies. Because of the uncertainty of the realization of the deferred tax assets, the Company has recorded a valuation allowance against substantially all deferred tax assets. Realization of its deferred tax assets is dependent primarily upon future U.S. and U.K. taxable income. The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that has a greater than 50% likelihood of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. Capitalized Software Development Costs The Company capitalizes software development costs in connection with its cloud-based business modeling and planning software application, as well as certain projects for internal use, as incurred. Qualifying computer software costs that are incurred during the application development stage are capitalized. The Company capitalized $19.3 million , $13.6 million, and $13.6 million related to software costs incurred during fiscal 2022, 2021, and 2020, respectively. Capitalized software costs are amortized on a straight-line basis over the estimated useful life of the related software, which is generally two Net Loss Per Share Attributable to Common Stockholders 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 net loss per share attributable to common stockholders adjusts basic net loss per share for the potentially dilutive impact of stock options, RSUs, PSUs and stock repurchase rights. 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. 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 consolidated financial statements. |
Consolidated Balance Sheet Comp
Consolidated Balance Sheet Components | 12 Months Ended |
Jan. 31, 2022 | |
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 January 31, 2022 2021 (In thousands) Computer and office equipment $ 74,031 $ 58,231 Leasehold improvements 16,834 14,055 Internal-use software 50,680 41,475 Construction in progress 17,015 6,941 Property and equipment, gross 158,560 120,702 Less: accumulated depreciation (95,441) (69,099) Property and equipment, net $ 63,119 $ 51,603 Depreciation expense was $27.2 million , $24.5 million, and $19.9 million for fiscal 2022, 2021, and 2020, respectively. The Company capitalized $19.3 million and $13.6 million in internal-use software for fiscal 2022 and 2021, respectively, of which $5.6 million and $3.5 million was stock-based compensation expense, respectively. Amortization of the capitalized internal-use software, included in total depreciation expense above was $11.1 million , $9.3 million and $6.1 million for fiscal 2022, 2021 and 2020, respectively. Accrued Expenses Accrued expenses consisted of the following: As of January 31, 2022 2021 (In thousands) Vendor accruals $ 14,781 $ 11,262 Accrued commission 21,938 12,521 Accrued bonuses 14,616 15,583 Accrued other payroll liabilities 35,841 31,238 Current portion of finance lease obligations 7,386 8,031 Accrued other 29,329 22,872 Accrued expenses $ 123,891 $ 101,507 Preferred Stock As of January 31, 2022 and 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 January 31, 2022 and 2021. |
Bank Borrowing
Bank Borrowing | 12 Months Ended |
Jan. 31, 2022 | |
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 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 January 31, 2022 and 2021, the Company had not drawn down any amounts under the Credit Agreement. The Company was in compliance with the financial covenants contained in the Credit Agreement as of January 31, 2022. |
Leases
Leases | 12 Months Ended |
Jan. 31, 2022 | |
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: Year Ended January 31, 2022 2021 2020 (In thousands) Operating lease costs $ 10,056 $ 10,060 $ 10,748 Finance lease costs Amortization of assets $ 9,805 $ 8,510 $ 5,737 Interest on lease liabilities 494 725 826 Total finance lease costs $ 10,299 $ 9,235 $ 6,563 Supplemental balance sheet information related to leases is as follows: As of January 31, 2022 2021 (In thousands) Operating leases: Operating lease ROU assets $ 31,287 $ 33,985 Operating lease liabilities, current portion $ 10,400 $ 7,951 Operating lease liabilities, net of current portion 26,046 30,130 Total operating lease liabilities $ 36,446 $ 38,081 Finance leases: Property and equipment, gross $ 39,499 $ 29,132 Less: accumulated depreciation (25,653) (15,876) Property and equipment, net $ 13,846 $ 13,256 Accrued expenses $ 7,386 $ 8,031 Other noncurrent liabilities 6,923 5,761 Total finance lease liabilities $ 14,309 $ 13,792 Weighted-average lease terms and discount rates are as follows: As of January 31, 2022 Operating Leases Finance Leases Weighted-average remaining lease terms 4.0 years 2.1 years Weighted-average discount rates 5.2 % 3.0 % As of January 31, 2021 Operating Leases Finance Leases Weighted-average remaining lease terms 4.8 years 1.8 years Weighted-average discount rates 5.5 % 4.4 % Future minimum lease payments under operating leases and finance leases as of January 31, 2022 are as follows: As of January 31, 2022 Operating Leases Finance Leases (In thousands) Years ending January 31, 2023 $ 11,289 $ 7,932 2024 9,812 4,924 2025 8,256 1,964 2026 7,812 — 2027 1,493 — Thereafter 967 — Total lease payments 39,629 14,820 Less: amount representing interest (2,798) (511) Less: leases less than 12 months (385) — Total lease liabilities $ 36,446 $ 14,309 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 acceptance. As of January 31, 2022, the amounts related to these leases were approximately $15.0 million, which are to be paid over three years after the date of commencement. Subsequent to the fiscal year ended January 31, 2022, the Company entered into commitments to lease computer and office equipment for approximately $8.5 million with the lease terms of three years. |
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: Year Ended January 31, 2022 2021 2020 (In thousands) Operating lease costs $ 10,056 $ 10,060 $ 10,748 Finance lease costs Amortization of assets $ 9,805 $ 8,510 $ 5,737 Interest on lease liabilities 494 725 826 Total finance lease costs $ 10,299 $ 9,235 $ 6,563 Supplemental balance sheet information related to leases is as follows: As of January 31, 2022 2021 (In thousands) Operating leases: Operating lease ROU assets $ 31,287 $ 33,985 Operating lease liabilities, current portion $ 10,400 $ 7,951 Operating lease liabilities, net of current portion 26,046 30,130 Total operating lease liabilities $ 36,446 $ 38,081 Finance leases: Property and equipment, gross $ 39,499 $ 29,132 Less: accumulated depreciation (25,653) (15,876) Property and equipment, net $ 13,846 $ 13,256 Accrued expenses $ 7,386 $ 8,031 Other noncurrent liabilities 6,923 5,761 Total finance lease liabilities $ 14,309 $ 13,792 Weighted-average lease terms and discount rates are as follows: As of January 31, 2022 Operating Leases Finance Leases Weighted-average remaining lease terms 4.0 years 2.1 years Weighted-average discount rates 5.2 % 3.0 % As of January 31, 2021 Operating Leases Finance Leases Weighted-average remaining lease terms 4.8 years 1.8 years Weighted-average discount rates 5.5 % 4.4 % Future minimum lease payments under operating leases and finance leases as of January 31, 2022 are as follows: As of January 31, 2022 Operating Leases Finance Leases (In thousands) Years ending January 31, 2023 $ 11,289 $ 7,932 2024 9,812 4,924 2025 8,256 1,964 2026 7,812 — 2027 1,493 — Thereafter 967 — Total lease payments 39,629 14,820 Less: amount representing interest (2,798) (511) Less: leases less than 12 months (385) — Total lease liabilities $ 36,446 $ 14,309 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 acceptance. As of January 31, 2022, the amounts related to these leases were approximately $15.0 million, which are to be paid over three years after the date of commencement. Subsequent to the fiscal year ended January 31, 2022, the Company entered into commitments to lease computer and office equipment for approximately $8.5 million with the lease terms of three years. |
Acquisition-Related Intangible
Acquisition-Related Intangible Assets | 12 Months Ended |
Jan. 31, 2022 | |
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 January 31, 2022 Remaining Intangible Accumulated Intangible (In thousands) Developed technology $ 5,200 $ (2,427) $ 2,773 2.7 years Customer relationships 2,976 (1,576) 1,400 4.7 years Total $ 8,176 $ (4,003) $ 4,173 As of January 31, 2021 Remaining Intangible Accumulated Intangible (In thousands) Developed technology $ 5,200 $ (1,387) $ 3,813 3.7 years Customer relationships 2,976 (1,276) 1,700 5.7 years Total $ 8,176 $ (2,663) $ 5,513 Amortization expense of acquisition-related intangible assets was $1.3 million, $1.3 million and $0.5 million for fiscal 2022, 2021, and 2020, respectively. The expected future intangible assets amortization as of January 31, 2022 is as follows: As of January 31, 2022 (In thousands) Years ending January 31, 2023 $ 1,340 2024 1,340 2025 993 2026 300 2027 200 Thereafter — Total future intangible assets amortization $ 4,173 |
Employee Stock Plans
Employee Stock Plans | 12 Months Ended |
Jan. 31, 2022 | |
Stockholders' Equity Note [Abstract] | |
Employee Stock Plans | Employee Stock Plans As of January 31, 2022, the Company was authorized to issue 1,750,000,000 shares of common stock. Shares were reserved for future issuance as follows: As of January 31, 2022 2021 (In thousands) Outstanding stock options 4,987 6,600 Outstanding restricted stock units and performance-based restricted stock units 8,331 8,558 Shares available for future issuances under the 2018 Stock Plan 25,469 21,564 Shares available for future issuances under the 2018 ESPP 4,675 3,717 Total 43,462 40,439 2012 Stock Plan In March 2012, the Company adopted the 2012 Plan, under which officers, employees, and consultants may be granted various forms of equity incentive compensation at the discretion of the Board of Directors, including stock options, RSUs, and Stock Purchase Rights (SPRs). The awards have varying terms, but generally vest over four years , and are issued at the fair value of the shares of common stock on the date of grant. In connection with the IPO, the 2012 Plan was terminated and the number of shares of common stock reserved under the 2012 Plan that were not issued or subject to outstanding awards under the 2012 Plan on the IPO date were transferred to the 2018 Plan . As of January 31, 2022, options to purchase and RSUs to convert to a total of 4.8 million shares of common stock were outstanding under the 2012 Plan pursuant to their original terms and no shares were available for future grant. 2018 Stock Plan In October 2018, the Company adopted the 2018 Plan, which became effective on October 11, 2018 and serves as the successor to the Company’s 2012 Plan, and provides various forms of equity incentive awards to the Company’s officers, employees and consultants at the discretion of the Board of Directors. The awards have varying terms, but generally vest over four years, and are issued at the fair value of the shares of common stock on the date of grant. As of January 31, 2022, options to purchase and RSUs to convert to a total of 8.5 million shares of common stock were outstanding under the 2018 Plan. On the first day of each fiscal year of the Company during the term of the 2018 Plan, commencing on February 1, 2019 and ending on (and including) February 1, 2028, the aggregate number of common shares that may be issued under the 2018 Plan shall automatically increase by a number equal to the least of (a) 5% of the total number of common shares issued and outstanding on the last day of the preceding fiscal year, (b) 7,500,000 of common shares subject to anti-dilution adjustments or (c) a number of common shares determined by the Company’s board of directors. Employee Stock Purchase Plan In September 2018, the Company adopted the 2018 Employee Stock Purchase Plan (the ESPP), which became effective on October 12, 2018. The ESPP initially authorizes the issuance of 2,700,000 shares of the Company’s common stock pursuant to purchase rights granted to eligible employees. The number of shares of common stock available for sale under the ESPP also includes an annual increase on the first day of each fiscal year beginning on February 1, 2019, equal to the least of: (i) 1% of the outstanding shares of common stock as of the last day of the preceding fiscal year, (ii) 1,500,000 shares of stock subject to anti-dilution adjustments or (iii) such other amount as the board of directors may determine. Except for the initial offering period, the ESPP provides for 12-month offering periods beginning June 21 and December 21 of each year, and each offering period will consist of two six-month purchase periods. The initial offering period began October 12, 2018 and ended on December 20, 2019. On each purchase date, eligible employees will purchase the shares at a price per share equal to 85% of the lesser of (1) the fair market value of the Company’s stock on the offering date or (2) the fair market value of our stock on the purchase date . For fiscal 2022, 0.5 million shares of common stock were purchased under the ESPP at a weighted-average price of $41.28 per share, and $10.4 million of stock-based compensation expense was recorded. During fiscal 2021, 0.4 million shares of common stock were purchased under the ESPP at a weighted-average price of $41.67 per share, and $7.8 million of stock-based compensation expense was recorded. During fiscal 2020, 1.2 million shares of common stock were purchased under the ESPP at a weighted-average price of $15.78 per share, and $5.9 million of stock-based compensation expense was recorded. The Company accounted for the stock purchase rights under ESPP at the grant date (first day of the offering period) by valuing each purchase period separately. The Black-Scholes assumptions used to value the ESPP are as follows: Year Ended January 31, 2022 2021 2020 ESPP: Risk-free interest rate 0.06% - 0.29% 0.09% - 2.05% 1.52% - 2.69% Expected term (years) 0.50 - 1.00 0.50 - 1.00 0.50 - 1.19 Expected volatility 40.3% - 40.5% 34.9% - 64.0% 32.5% - 42.9% Expected dividend yield — — — Share Repurchase Shares repurchased upon termination of employment were immaterial in fiscal 2022, 2021 and 2020 . Stock Options, Restricted Stock Units and Performance-based Restricted Stock Units Stock options can be granted with an exercise price equal to or greater than the stock’s fair value at the date of grant. Most awards have 10-year terms and vest and become exercisable at a rate of 25% on the first anniversary of the vesting commencement date and 1/48th each month thereafter. Options granted may include provisions for early exercisability. There were no options granted in fiscal 2022. The Black-Scholes assumptions used to value the employee options at the grant dates are as follows: Year Ended January 31, 2021 2020 Stock Options: Fair value of common stock $37.61 - $59.91 $32.75 - $58.82 Risk-free interest rate 0.36% - 1.40% 1.51% - 2.54% Expected term (years) 5.14 - 6.08 5.07 - 6.25 Expected volatility 36.9% - 40.3% 37.5% - 38.8% Expected dividend yield — — These assumptions and estimates were determined as follows: • Fair Value of Common Stock. Prior to the IPO, the Company’s board of directors determined the fair value of its common stock using various valuation methodologies, including valuation analyses performed by third-party valuation firms. After the IPO, the Company uses the publicly quoted market closing price as reported on the New York Stock Exchange as the fair value of its common stock. • Risk-Free Interest Rate. The risk-free interest rate for the expected term of the options was based on the U.S. Treasury yield curve in effect at the time of the grant. • Expected Term. The expected term was estimated using the simplified approach, in which the expected term of an award is presumed to be the mid-point between the vesting date and the expiration date of the award, as the Company does not have sufficient historical data relating to stock-option exercises. • Expected Volatility. As there was no public market for the Company’s common stock prior to IPO, the Company has limited information on the volatility of its common stock. Accordingly, the expected volatility for the Company was estimated by taking the average historic price volatility for industry peers, consisting of several public companies in the Company’s industry which are either similar in size, stage of life cycle, or financial leverage, over a period equivalent to the expected term of the awards . • Expected Dividend Yield. The Company has never declared or paid any cash dividends and does not presently plan to pay cash dividends in the foreseeable future. As a result, an expected dividend yield of zero was used. A summary of stock option, RSU and PSU activities for fiscal 2022 is as follows: Options Outstanding RSUs and PSUs Outstanding Shares Shares Weighted Average Aggregate Shares Weighted- (in thousands, except weighted average exercise price, average remaining contractual life and weighted average grant date fair value) Balance as of January 31, 2021 21,564 6,600 $ 11.83 6.85 $ 362,149 8,558 $ 37.15 Shares authorized 7,175 — — — — — — Options exercised — (1,377) 9.73 — — — — Options forfeited 236 (236) 24.99 — — — — RSUs and PSUs granted (5,604) — — — — 5,604 56.68 RSUs and PSUs vested — — — — — (3,733) 35.28 RSUs and PSUs forfeited 2,098 — — — — (2,098) 41.19 Balance as of January 31, 2022 25,469 4,987 $ 11.79 5.61 $ 182,453 8,331 $ 50.10 Exercisable as of January 31, 2022 4,418 $ 9.38 5.38 $ 172,135 Vested and expected to vest as of January 31, 2022 4,946 $ 11.60 5.59 $ 181,879 7,010 The total intrinsic value of the options exercised during fiscal 2022, 2021, and 2020 was $64.3 million , $129.5 million, and $194.1 million, respectively. The intrinsic value is calculated as the difference between the fair value of the underlying common stock at the exercise date and the exercise price of the stock option. The weighted-average grant date fair value of options granted during fiscal 2021 and 2020 was $14.36 and $13.87, respectively. As of January 31, 2022, unrecognized stock-based compensation cost related to outstanding unvested stock options that are expected to vest was $4.8 million , which is expected to be recognized over a weighted-average period of 1.5 years . RSUs granted under the 2012 Plan vest upon the satisfaction of both a service condition and a liquidity condition. Both the service and liquidity conditions must be met for the expense to be recognized. The liquidity condition was satisfied upon completion of our IPO. In connection with the IPO, the 2012 Plan was terminated and the number of shares of common stock reserved under the 2012 Plan that were not issued or subject to outstanding awards under the 2012 Plan on the IPO date were transferred to the 2018 Plan. The RSUs granted after the IPO under the 2018 Plan solely vest upon the satisfaction of a service condition. As of January 31, 2022, unrecognized stock-based compensation cost related to outstanding unvested RSUs that are expected to vest was $287.3 million , which is expected to be recognized over a weighted-average period of 2.8 years . During fiscal 2022 , the Company granted two types of PSUs to certain senior executive officers under the 2018 Stock Plan. Both types of PSUs are subject to service-based and market-based vesting conditions. Each type of PSU contains different market-based vesting conditions and the number of shares that could be earned is either 1) 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, or 2) based on specific share price target of the Company’s common stock. 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 January 31, 2022 , unrecognized stock-based compensation cost related to outstanding unvested PSUs that are expected to vest was $14.3 million, which is expected to be recognized over a weighted-average period of 2.0 years. Stock-Based Compensation The stock-based compensation expense, net of estimated forfeitures, by line item in the accompanying consolidated statements of comprehensive loss is summarized as follows: Year Ended January 31, 2022 2021 2020 (In thousands) Cost of subscription revenue $ 7,712 $ 3,822 $ 2,547 Cost of professional services revenue 4,192 2,481 2,199 Research and development 35,914 18,715 10,608 Sales and marketing 69,590 48,210 34,428 General and administrative 32,137 30,398 30,264 Total stock-based compensation expense $ 149,545 $ 103,626 $ 80,046 The Company’s estimated forfeiture rate is based on accumulated historical forfeiture data. The capitalized stock-based compensation expense relating to research and development expense was $5.6 million , $3.5 million, and $2.3 million during fiscal 2022, 2021, and 2020, respectively. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Jan. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or a liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels: – Level 1 inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. – Level 2 inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. – Level 3 inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. Cash and cash equivalents included investments in money market funds of $196.7 million and $240.0 million at January 31, 2022 and 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 January 31, 2022 or 2021. There were no transfers into or out of Level 1, Level 2, or Level 3 during fiscal 2022, 2021, and 2020. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jan. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Indemnifications The Company delivers its application over the Internet as a subscription service using a SaaS model. Each subscription is subject to the terms of the contractual arrangement with the customer and generally includes certain provisions for holding the customer harmless against and indemnifying the customer for costs, damages, losses, liabilities, and expenses arising from claims that the Company’s software infringes upon a copyright, trademark, or other trade secret rights, and third-party claims arising from the Company’s breach of the contract. The Company has not incurred any expense in defense or reimbursement of any of its customers for losses related to indemnification provisions, and no material claims against the Company are outstanding as of January 31, 2022 and 2021. The Company’s exposure under these indemnification provisions is generally capped at a fixed amount in many customer agreements and uncapped in others. Due primarily to the lack of history of prior indemnification claims and the unique facts and circumstances involved in each particular contractual arrangement, the Company has determined that potential costs related to indemnification are not probable or estimable and, as such, has not recorded a reserve for fiscal 2022, 2021, or 2020. Warranties The Company provides a warranty for the implementation services it performs for its subscription services to its customers for a period of 30 days after completion of the services. The Company’s services are generally warranted to conform to the specifications set forth in the related customer contract and published documentation. In the event there is a failure of such warranties, the Company generally will correct the problem or provide a reasonable workaround or replacement product. If the Company cannot correct the problem or provide a workaround or replacement product, then the customer’s remedy is generally limited to termination of the contractual arrangement related to the nonconforming product services with a refund of the related fees paid. Accordingly, no amounts have been recorded. Legal Matters 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 alleged 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 were 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. On August 31, 2021, the Court entered an order dismissing the amended complaint without prejudice. On September 21, 2021, the parties filed a stipulation of voluntary dismissal whereby the lead plaintiff agreed not to further litigate the case, and the Court subsequently terminated the case. From time to time, the Company is party to litigation and subject to claims incident to the ordinary course of business. As the Company’s 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 the Company’s 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 the Company’s business, operating results, financial condition, or cash flows. Other Contractual Commitments Other contractual commitments primarily consist of data center, cloud and IT operations related to our daily business operations. Future minimum payments under our non-cancelable purchase commitments are presented in the table below: Purchase (In thousands) Years ending January 31, 2023 $ 57,311 2024 56,617 2025 45,115 2026 33,433 2027 16,200 Thereafter — Total future minimum payments $ 208,676 |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The components of the loss before income taxes were as follows: Year Ended January 31, 2022 2021 2020 (In thousands) Domestic $ (209,143) $ (157,373) $ (115,107) Foreign 1,458 7,497 (29,657) Total $ (207,685) $ (149,876) $ (144,764) The Benefit from (provision for) income taxes was as follows: Year Ended January 31, 2022 2021 2020 (In thousands) Current: Federal $ (42) $ (1,311) $ — State (43) (90) (76) Foreign (2,667) (288) (1,741) Total current income tax expense $ (2,752) (1,689) (1,817) Deferred: Federal $ — $ — $ — State — — — Foreign 6,838 (2,402) (2,636) Total deferred income tax expense 6,838 (2,402) (2,636) Total benefit from (provision for) income tax $ 4,086 $ (4,091) $ (4,453) A reconciliation of the U.S. federal statutory tax rate to the Company’s benefit from (provision for) income taxes was as follows: Year Ended January 31, 2022 2021 2020 (In thousands) U.S. federal taxes at statutory tax rate $ 43,614 $ 31,474 $ 30,400 State taxes, net of federal benefit 6,618 10,479 9,427 Stock-based compensation 15,825 40,853 40,628 Change in valuation allowance (71,243) (84,772) (98,343) Foreign income taxed at various rates 13,292 6,623 5,986 Impact of provision to tax return adjustment 290 (3,640) 9,382 Other (4,310) (5,108) (1,933) Total $ 4,086 $ (4,091) $ (4,453) Significant components of net deferred tax assets are as follows: As of January 31, 2022 2021 (In thousands) Deferred tax assets: Net operating losses $ 370,863 $ 282,400 Stock-based compensation 13,589 13,984 Accruals and reserves 5,568 5,992 Depreciation and amortization 2,068 2,295 Lease liabilities 7,963 9,524 Deferred research and development costs 1,746 1,321 Gross deferred tax assets 401,797 315,516 Valuation allowance (351,246) (280,412) Deferred tax liabilities: Depreciation and amortization (4,178) (4,247) Accruals and reserves (6,587) (2,583) ROU assets (5,812) (7,291) Deferred commissions (31,589) (27,098) Gross deferred tax liabilities (48,166) (41,219) Total net deferred tax liabilities $ 2,385 $ (6,115) During fiscal 2022, the Company released a valuation allowance related to its Israel deferred tax assets on the basis of management’s assessment of the amount of its deferred tax assets that are more likely than not to be realized. Management’s conclusion was based on a detailed evaluation of all available positive and negative evidence and the weight of such evidence, including an expectation of continued earnings. The valuation allowance release resulted in a tax benefit of $7.6 million during fiscal 2022. The Company continues to maintain a full valuation allowance on its federal, state and U.K. deferred tax assets due to management’s conclusion that it is not more likely than not that those deferred tax assets will be realized ; accordingly, the valuation allowance increased $70.8 million for fiscal 2022 and increased $90.7 million for fiscal 2021. As of January 31, 2022, the Company has net operating loss carryforwards for federal income tax purposes of $1,223.8 million available to reduce future income subject to income taxes. The federal net operating loss carryforwards will begin to expire, if not utilized, in fiscal 2029. In addition, the Company has $246.0 million and $419.9 million of net operating loss carryforwards available to reduce future taxable income subject to California state income taxes and all other applicable state jurisdictions, respectively. The California net operating loss carryforwards will begin to expire, if not utilized, in fiscal 2031 through fiscal 2041. The other states’ net operating loss carryforwards will begin to expire at various dates beginning in fiscal 2025 through fiscal 2040, if not utilized. The U.K. net operating loss carryforwards of $260.5 million do not expire. The federal and state net operating loss carryforwards may be subject to significant limitations under Section 382 and Section 383 of the Code and similar provisions under state law. The Tax Reform Act of 1986 contains provisions that limit the federal net operating loss carryforwards that may be used in any given year in the event of special occurrences, including significant ownership changes. The Company completed an analysis under Code Sections 382 and 383 through January 31, 2020 and concluded that the limitation on its ability to utilize its net operating loss carryforwards will not b e material. If there were material ownership changes subsequent to the study, such changes could limit the Company’s ability to utilize its net operating loss carryforwards. Changes in our unrecognized tax benefits are summarized as follows: As of January 31, 2022 2021 (In thousands) Beginning balance $ 6,261 $ 6,530 Additions for current year items — 1,250 Lapse of statute of limitations (1,546) (1,519) Ending balance $ 4,715 $ 6,261 Prior to year end, the statute of limitations expired in Israel related to $1.5 million of the unrecognized tax benefits, and accordingly, this amount was removed from the balance of gross unrecognized tax benefits. The Company believes that is reasonably possible that approximately $1.1 million in unrecognized tax benefits may be recognized by the end of January 31, 2023 as a result of a lapse of the statute of limitations. The Company files income tax returns for U.S. federal income tax, several U.S. states, and other foreign jurisdictions. The Company’s most significant tax jurisdictions are the United States and the United Kingdom. The Company’s tax years for 2009 and forward are subject to examination by the federal tax authorities. The Company’s tax years for 2009 and forward are subject to examination by the state tax authorities. The Company’s tax years for 2011 and forward are subject to examination by the foreign tax authorities. The Company is currently under examination for income tax in Israel. |
Net Loss Per Share Attributable
Net Loss Per Share Attributable to Common Stockholders | 12 Months Ended |
Jan. 31, 2022 | |
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, 2022 2021 2020 (In thousands, except per share data) Numerator: Net loss $ (203,599) $ (153,967) $ (149,217) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 146,263 139,499 129,799 Net loss per share attributable to common stockholders, basic and diluted $ (1.39) $ (1.10) $ (1.15) 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 January 31, 2022 2021 2020 (In thousands) Stock options 4,987 6,600 10,198 Stock repurchase rights — — 5 RSUs and PSUs 8,331 8,558 10,260 Unvested shares subject to repurchase — — 6 Total 13,318 15,158 20,469 |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Jan. 31, 2022 | |
Postemployment Benefits [Abstract] | |
Employee Benefit Plans | Employee Benefit Plans On January 1, 2013, the Company initiated a savings and retirement plan for employees. The Company’s employee savings and retirement plan is qualified under Section 401 of the Internal Revenue Code. The plan is available to all regular employees on the Company’s U.S. payroll and provides employees with tax-deferred salary deductions and alternative investment options. Employees may contribute up to 90% of their salary up to the statutory prescribed annual limit. The Company also has a defined-contribution retirement plan or participates in government programs that covers substantially all employees in Australia, Austria, Belgium, Canada, France, Germany, India, Israel, Japan, Malaysia, the Netherlands, the Philippines, Singapore, Sweden, Switzerland and the United Kingdom. The Company matches employees’ contributions to the U.S. 401(k) plan, subject to certain limitations. The Company also matches at varying percentages of income, voluntarily or within a statutory scheme, for employees in the countries listed above. |
Subsequent Event
Subsequent Event | 12 Months Ended |
Jan. 31, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Event | Subsequent Event Proposed Merger On March 20, 2022, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Alpine Parent, LLC, a Delaware limited liability company (“Parent”) and Alpine Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub”), providing for, subject to the terms and conditions set forth in the Merger Agreement, the Company’s acquisition by affiliates of funds advised by private equity investment firm Thoma Bravo, L.P. (“Thoma Bravo”), in an all-cash transaction valued at approximately $10.7 billion (the “Transaction” or the “Merger”). If the Transaction is completed, each share of the Company’s common stock issued and outstanding immediately prior to the effective time of the Merger (the “Effective Time”) will, at the Effective Time, automatically be converted into the right to receive $66.00 in cash, without interest, net of applicable withholding taxes. The consummation of the Merger is subject to the satisfaction or waiver of customary closing conditions, including, without limitation, the absence of governmental orders resulting, directly or indirectly, in enjoining or otherwise prohibiting or making illegal the consummation of the Merger, the affirmative vote of the holders of a majority of the voting power of the outstanding shares of the Company’s common stock entitled to vote on the adoption of the Merger Agreement, and expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The Transaction is expected to close in the first half of the calendar year 2022. Upon consummation of the Merger, the Company will cease to be a publicly traded company. The Merger Agreement contains certain termination rights for the Company and Parent. Upon termination of the Merger Agreement under specified circumstances, including, without limitation, in connection with the Company entering into an agreement for a Superior Proposal, or due to the change or withdrawal of the Company Board’s recommendation in favor of the Merger, the Company will be required to pay Parent a termination fee of approximately $293.1 million. Upon termination of the Merger Agreement under other specified circumstances, including, without limitation, Parent breaching its representations, warranties or covenants in a manner that would cause the related closing conditions to not be met as well as Parent’s failure to consummate the Merger after the applicable closing conditions are met, Parent will be required to pay the Company a termination fee of approximately $586.2 million. In addition to the foregoing termination rights, and subject to certain limitations, either party may terminate the Merger Agreement if the Merger is not consummated by September 20, 2022. The foregoing summary of the Merger Agreement and the transactions contemplated thereby does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Merger Agreement. |
Summary of Business and Signi_2
Summary of Business and Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 31, 2022 | |
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 ended January 31, 2022. |
Principles of Consolidation | Principles of ConsolidationThe accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) 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. |
Use of Estimates | Use of Estimates The preparation of 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 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, and the allowance for credit losses. Actual results could differ from those estimates. As of the filing date of 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 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 its consolidated financial statements. |
Foreign Currency | Foreign CurrencyThe functional currency of the Company’s foreign subsidiaries is primarily their respective local currency. The Company translates all assets and liabilities of foreign subsidiaries to U.S. dollars at the current exchange rate as of the applicable consolidated balance sheet date. Revenue and expenses are translated at the average exchange rate prevailing during the period. The related unrealized gains and losses from foreign currency translation are recorded in accumulated other comprehensive loss as a separate component of stockholders’ equity. |
Cash and Cash Equivalents and Restricted Cash | Cash and Cash Equivalents and Restricted CashThe Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents are stated at fair value. Restricted cash represents cash held to collateralize lease obligations. |
Fair Value Measurement | Fair Value Measurement The Company’s financial instruments, other than cash and restricted cash, consists principally of accounts receivable and accounts payable of which the fair value approximates the carrying value of these financial instruments because of their short-term nature. |
Property and Equipment, net | Property and Equipment, net Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets, which is two |
Goodwill, Intangible Assets and Other Long-Lived Assets | Goodwill, Intangible Assets and Other Long-Lived Assets The Company performs a qualitative assessment on goodwill at least annually, during the fourth quarter, or more frequently if indicators of potential impairment exist, to determine if any events or circumstances exist, such as an adverse change in business climate or a decline in the overall industry that would indicate that it would more likely than not reduce the fair value of a reporting unit below its carrying amount. If it is determined in the qualitative assessment that the fair value of a reporting unit is more likely than not below its carrying amount, then the Company will perform a quantitative impairment test. The quantitative goodwill impairment test is performed by comparing the fair value of a reporting unit with its carrying amount. Any excess in the carrying value of a reporting unit’s goodwill over its fair value is recognized as an impairment loss, limited to the total amount of goodwill allocated to that reporting unit. For purposes of goodwill impairment testing, the Company has one reporting unit. Acquisition-related intangible assets with finite lives are amortized over their estimated useful lives. The Company evaluates long-lived assets, including property, equipment and leasehold improvements and other intangible assets subject to amortization, for recoverability whenever events or changes in circumstances indicate that the carrying value of an asset or asset group may not be recoverable based on expected future cash flows attributable to that asset or asset group. Recoverability of assets held and used is measured by comparison of the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset or asset group exceeds estimated undiscounted future cash flows, then an impairment charge would be recognized based on the excess of the carrying amount of the asset or asset group over its fair value. Assets to be disposed of are reported at the lower of their carrying amount or fair value less costs to sell. |
Leases | Leases The Company determines if an arrangement is a lease at inception. The Company’s lease agreements do not contain any material options to extend or terminate leases, any material residual value guarantees, any material restrictions or covenants, or any material variable lease payments. Any variable lease payments consist of common area maintenance, taxes and other costs and are expensed as incurred. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized based on the present value of lease payments over the lease term at the commencement date. In determining the present value of lease payments, the Company uses its country specific incremental borrowing rate based on the information available at the lease commencement date, including the lease term, for operating leases. The incremental borrowing rate is a hypothetical rate based on the Company’s understanding of what its credit rating would be within each country. The operating lease ROU asset was valued at the amount of the lease liabilities adjusted for the remaining balance of unamortized lease incentives, prepaid rent, and deferred rent. Finance lease ROU assets and liabilities are recognized based on the carrying amount of the lease assets and lease liabilities. The finance lease ROU asset also includes any remaining unamortized initial direct costs. Lease expense is recognized on a straight-line basis over the lease term. |
Concentration of Risk and Significant Customers | Concentration of Risk and Significant Customers Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, and accounts receivable. The Company maintains its cash, cash equivalents, and |
Segment Information | Segment Information The Company operates in one operating segment. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker, who is the chief executive officer, in deciding how to allocate resources and assessing performance. The Company’s chief operating decision maker allocates resources and assesses performance based upon discrete financial information at the consolidated level. |
Accounts Receivable, net | Accounts Receivable, net The Company adopted Accounting Standards Codification Topic 326 (ASC 326), Financial Instruments – Credit Losses, effective February 1, 2020 using a modified retrospective approach. |
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. The Company determines revenue recognition through the following steps: 1. Identification of the contract, or contracts, with the customer 2. Identification of the performance obligations in the contract 3. Determination of the transaction price 4. Allocation of the transaction price to the performance obligations in the contract 5. Recognition of the revenue when, or as, a performance obligation is satisfied Subscription Revenue The Company generates revenue primarily from sales of subscriptions to access its cloud-based business and execution planning platform. Subscription arrangements with customers do not provide the customer with the right to take possession of the software operating the platform. Instead, customers are granted continuous access to the platform over the contractual period. A time-elapsed method is used to measure progress because the Company’s obligation is to provide continuous service over the contractual period. Accordingly, the fixed consideration related to subscription revenue is recognized ratably over the contract term beginning on the date access to the platform is provided. The typical subscription term is two to three years and customers are generally invoiced in annual installments at the beginning of each year within the subscription period. Most contracts are non-cancelable over the contractual term. Some customers have the option to purchase additional subscription services at a stated price. These options are evaluated on a case-by-case basis but generally do not provide a material right as they are priced within a range of prices provided to other customers for the same products and, as such, would not result in a separate performance obligation. Professional Services Revenue Professional services revenue consists of fees associated with implementation or consultation services, and training. Professional services do not result in significant customization of the subscription service and are considered distinct. A substantial majority of the professional service contracts are recognized on a time and materials basis and the related revenue is recognized as the service hours are performed. For time and materials projects, the Company invoices for professional services as the work is incurred and in arrears. Contracts with Multiple Performance Obligations Most contracts with customers contain multiple performance obligations that are distinct and accounted for separately. The transaction price is allocated to the separate performance obligations on a relative standalone selling price (SSP) basis. The Company determines SSP for all performance obligations using observable inputs, such as standalone sales and historical contract pricing. SSP is consistent with the Company’s overall pricing objectives, taking into consideration the type of subscription services and professional and other services. SSP also reflects the amount the Company would charge for that performance obligation if it were sold separately in a standalone sale, and the price the Company would sell to similar customers in similar circumstances. Variable Consideration Revenue from sales is recorded based on the transaction price, which includes estimates of variable consideration. Variable consideration may exist where a customer has purchased professional services that are sold on a time and materials basis. The Company estimates the number of hours expected to be incurred based on an expected values approach that considers historical hours incurred for similar projects based on the types and sizes of customers. |
Deferred Commissions | Deferred Commissions The Company capitalizes sales commissions that are incremental due to the acquisition of customer contracts. These costs are recorded as deferred commissions on the consolidated balance sheets. The Company determines whether costs should be deferred based on its sales compensation plans, if the commissions are in fact incremental and would not have occurred absent the customer contract. Sales commissions for renewal of a subscription contract are not considered commensurate with the commissions paid for the acquisition of the initial subscription contract given the substantive difference in commission rates between new and renewal contracts. Commissions paid upon the initial acquisition of a contract are amortized over an estimated period of benefit of five years, while commissions paid related to renewal contracts are amortized over the renewal term. Amortization is recognized on a straight-line basis commensurate with the pattern of revenue recognition. Commissions paid on professional services are typically expensed as incurred. The Company determines the period of benefit for commissions paid for the acquisition of the initial subscription contract by taking into consideration the historical initial and renewal contractual terms and estimated renewal rates. The Company determines the period of benefit for renewal subscription contracts by considering the average contractual term for renewal contracts. Amortization of deferred commissions is included in sales and marketing expense in the consolidated statements of comprehensive loss. |
Remaining Performance Obligations | 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. |
Cost of Revenue | Cost of Revenue Cost of Subscription Revenue Cost of subscription revenue primarily consists of costs related to providing cloud applications, compensation and other employee-related expenses for data center staff, payments to outside service providers, customer service, data center and networking expenses, depreciation expenses, and amortization of capitalized software development costs. Cost of Professional Services Revenue Cost of professional services primarily consists of costs related to providing implementation services, optimization services, and training, and includes compensation and other employee-related expenses for professional services staff, costs of subcontractors, and travel. |
Advertising Costs | Advertising CostsAdvertising costs are expensed as incurred in sales and marketing expense |
Stock-Based Compensation | Stock-Based Compensation Prior to the Initial Public Offering (IPO), the Company’s board of directors determined the fair value of its common stock using various valuation methodologies, including valuation analyses performed by third-party valuation firms. After the IPO, the Company uses the publicly quoted market closing price as reported on the New York Stock Exchange as the fair value of its common stock. The Company measures the cost of employee services received in exchange for an award of equity instruments, including stock options, restricted stock units (RSUs), performance-based restricted stock units (PSUs), and purchase rights issued under the 2018 Employee Stock Purchase Plan (ESPP), based on the estimated grant-date fair value of the award. The Company calculates the fair value of options and the purchase rights issued under ESPP using the Black-Scholes option-pricing model and the related expense is recognized using the straight-line attribution approach. The vesting period is the period the employee is required to provide service in exchange for the award. The Company’s RSUs granted after the IPO under the 2018 Equity Incentive Plan (2018 Plan) vest upon the satisfaction of a service condition and do not have a corresponding liquidity condition. Stock-based compensation expense includes the impact of estimated forfeitures, and has been allocated between cost of revenue and operating expense lines based on the cost category of the respective award holders. |
Income Taxes | Income Taxes Income taxes are accounted for under the asset-and-liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company records a valuation allowance to reduce its deferred tax assets to the net amount that the Company believes is more likely than not to be realized. In assessing the need for a valuation allowance, the Company has considered its historical levels of income, expectations of future taxable income and ongoing tax planning strategies. Because of the uncertainty of the realization of the deferred tax assets, the Company has recorded a valuation allowance against substantially all deferred tax assets. Realization of its deferred tax assets is dependent primarily upon future U.S. and U.K. taxable income. The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that has a greater than 50% likelihood of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. |
Capitalized Software Development Costs | Capitalized Software Development CostsThe Company capitalizes software development costs in connection with its cloud-based business modeling and planning software application, as well as certain projects for internal use, as incurred. Qualifying computer software costs that are incurred during the application development stage are capitalized. |
Net Loss Per Share Attributable to Common Stockholders | Net Loss Per Share Attributable to Common Stockholders 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 net loss per share attributable to common stockholders adjusts basic net loss per share for the potentially dilutive impact of stock options, RSUs, PSUs and stock repurchase rights. 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. |
Recently Issued/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 consolidated financial statements. |
Warranties | Warranties The Company provides a warranty for the implementation services it performs for its subscription services to its customers for a period of 30 days after completion of the services. The Company’s services are generally warranted to conform to the specifications set forth in the related customer contract and published documentation. In the event there is a failure of such warranties, the Company generally will correct the problem or provide a reasonable workaround or replacement product. If the Company cannot correct the problem or provide a workaround or replacement product, then the customer’s remedy is generally limited to termination of the contractual arrangement related to the nonconforming product services with a refund of the related fees paid. Accordingly, no amounts have been recorded. |
Summary of Business and Signi_3
Summary of Business and Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Accounting Policies [Abstract] | |
Summary of Company's Long-lived Assets by Geographical Area Consist of Property and Equipment, Net and Operating Lease Right-Of-Use Assets | The following table summarizes the Company’s long-lived assets by geographic area, which consist of property and equipment, net and operating lease right-of-use assets: As of January 31, 2022 2021 (In thousands) Long-lived assets United States $ 53,409 $ 61,111 United Kingdom 30,141 17,862 Other 10,856 6,615 Total $ 94,406 $ 85,588 |
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: Year Ended January 31, 2022 2021 2020 Amount Percentage Amount Percentage Amount Percentage (In thousands, except percentage data) Americas $ 327,221 55 % $ 253,775 57 % $ 205,345 59 % EMEA 196,362 33 144,260 32 110,057 32 APAC 68,593 12 49,720 11 32,620 9 Total $ 592,176 100 % $ 447,755 100 % $ 348,022 100 % |
Rollforward of Company's Deferred Commissions | The following table represents a rollforward of the Company’s deferred commissions: As of January 31, 2022 2021 (In thousands) Beginning balance $ 119,202 $ 83,937 Additions to deferred commissions 85,736 65,639 Amortization of deferred commissions (42,635) (33,404) Foreign currency translation effect of deferred commissions (3,135) 3,030 Ending balance $ 159,168 $ 119,202 Deferred commissions, current (to be recognized in next 12 months) 49,124 36,797 Deferred commissions, net of current portion 110,044 82,405 Total deferred commissions $ 159,168 $ 119,202 |
Consolidated Balance Sheet Co_2
Consolidated Balance Sheet Components (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Property and Equipment, Net | Property and equipment consisted of the following: As of January 31, 2022 2021 (In thousands) Computer and office equipment $ 74,031 $ 58,231 Leasehold improvements 16,834 14,055 Internal-use software 50,680 41,475 Construction in progress 17,015 6,941 Property and equipment, gross 158,560 120,702 Less: accumulated depreciation (95,441) (69,099) Property and equipment, net $ 63,119 $ 51,603 |
Schedule of Accrued Expenses | Accrued expenses consisted of the following: As of January 31, 2022 2021 (In thousands) Vendor accruals $ 14,781 $ 11,262 Accrued commission 21,938 12,521 Accrued bonuses 14,616 15,583 Accrued other payroll liabilities 35,841 31,238 Current portion of finance lease obligations 7,386 8,031 Accrued other 29,329 22,872 Accrued expenses $ 123,891 $ 101,507 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Leases [Abstract] | |
Schedule of Lease Cost | The components of lease expense were as follows: Year Ended January 31, 2022 2021 2020 (In thousands) Operating lease costs $ 10,056 $ 10,060 $ 10,748 Finance lease costs Amortization of assets $ 9,805 $ 8,510 $ 5,737 Interest on lease liabilities 494 725 826 Total finance lease costs $ 10,299 $ 9,235 $ 6,563 |
Schedule of Supplemental Balance Sheet Information Related To Leases | Supplemental balance sheet information related to leases is as follows: As of January 31, 2022 2021 (In thousands) Operating leases: Operating lease ROU assets $ 31,287 $ 33,985 Operating lease liabilities, current portion $ 10,400 $ 7,951 Operating lease liabilities, net of current portion 26,046 30,130 Total operating lease liabilities $ 36,446 $ 38,081 Finance leases: Property and equipment, gross $ 39,499 $ 29,132 Less: accumulated depreciation (25,653) (15,876) Property and equipment, net $ 13,846 $ 13,256 Accrued expenses $ 7,386 $ 8,031 Other noncurrent liabilities 6,923 5,761 Total finance lease liabilities $ 14,309 $ 13,792 |
Schedule of Weighted-Average Lease Terms and Discount Rates | Weighted-average lease terms and discount rates are as follows: As of January 31, 2022 Operating Leases Finance Leases Weighted-average remaining lease terms 4.0 years 2.1 years Weighted-average discount rates 5.2 % 3.0 % As of January 31, 2021 Operating Leases Finance Leases Weighted-average remaining lease terms 4.8 years 1.8 years Weighted-average discount rates 5.5 % 4.4 % |
Schedule of Future Minimum Lease Payments, Operating | Future minimum lease payments under operating leases and finance leases as of January 31, 2022 are as follows: As of January 31, 2022 Operating Leases Finance Leases (In thousands) Years ending January 31, 2023 $ 11,289 $ 7,932 2024 9,812 4,924 2025 8,256 1,964 2026 7,812 — 2027 1,493 — Thereafter 967 — Total lease payments 39,629 14,820 Less: amount representing interest (2,798) (511) Less: leases less than 12 months (385) — Total lease liabilities $ 36,446 $ 14,309 |
Schedule of Future Minimum Lease Payments, Finance | Future minimum lease payments under operating leases and finance leases as of January 31, 2022 are as follows: As of January 31, 2022 Operating Leases Finance Leases (In thousands) Years ending January 31, 2023 $ 11,289 $ 7,932 2024 9,812 4,924 2025 8,256 1,964 2026 7,812 — 2027 1,493 — Thereafter 967 — Total lease payments 39,629 14,820 Less: amount representing interest (2,798) (511) Less: leases less than 12 months (385) — Total lease liabilities $ 36,446 $ 14,309 |
Acquisition-Related Intangibl_2
Acquisition-Related Intangible Assets (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
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 January 31, 2022 Remaining Intangible Accumulated Intangible (In thousands) Developed technology $ 5,200 $ (2,427) $ 2,773 2.7 years Customer relationships 2,976 (1,576) 1,400 4.7 years Total $ 8,176 $ (4,003) $ 4,173 As of January 31, 2021 Remaining Intangible Accumulated Intangible (In thousands) Developed technology $ 5,200 $ (1,387) $ 3,813 3.7 years Customer relationships 2,976 (1,276) 1,700 5.7 years Total $ 8,176 $ (2,663) $ 5,513 |
Summary of Expected Future Intangible Assets Amortization | The expected future intangible assets amortization as of January 31, 2022 is as follows: As of January 31, 2022 (In thousands) Years ending January 31, 2023 $ 1,340 2024 1,340 2025 993 2026 300 2027 200 Thereafter — Total future intangible assets amortization $ 4,173 |
Employee Stock Plans (Tables)
Employee Stock Plans (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Stockholders' Equity Note [Abstract] | |
Schedule of Shares Reserved for Future Issuance | Shares were reserved for future issuance as follows: As of January 31, 2022 2021 (In thousands) Outstanding stock options 4,987 6,600 Outstanding restricted stock units and performance-based restricted stock units 8,331 8,558 Shares available for future issuances under the 2018 Stock Plan 25,469 21,564 Shares available for future issuances under the 2018 ESPP 4,675 3,717 Total 43,462 40,439 |
Schedule of Black-Scholes Assumptions to Value | The Black-Scholes assumptions used to value the ESPP are as follows: Year Ended January 31, 2022 2021 2020 ESPP: Risk-free interest rate 0.06% - 0.29% 0.09% - 2.05% 1.52% - 2.69% Expected term (years) 0.50 - 1.00 0.50 - 1.00 0.50 - 1.19 Expected volatility 40.3% - 40.5% 34.9% - 64.0% 32.5% - 42.9% Expected dividend yield — — — The Black-Scholes assumptions used to value the employee options at the grant dates are as follows: Year Ended January 31, 2021 2020 Stock Options: Fair value of common stock $37.61 - $59.91 $32.75 - $58.82 Risk-free interest rate 0.36% - 1.40% 1.51% - 2.54% Expected term (years) 5.14 - 6.08 5.07 - 6.25 Expected volatility 36.9% - 40.3% 37.5% - 38.8% Expected dividend yield — — |
Summary of Stock Option and RSU Activities | A summary of stock option, RSU and PSU activities for fiscal 2022 is as follows: Options Outstanding RSUs and PSUs Outstanding Shares Shares Weighted Average Aggregate Shares Weighted- (in thousands, except weighted average exercise price, average remaining contractual life and weighted average grant date fair value) Balance as of January 31, 2021 21,564 6,600 $ 11.83 6.85 $ 362,149 8,558 $ 37.15 Shares authorized 7,175 — — — — — — Options exercised — (1,377) 9.73 — — — — Options forfeited 236 (236) 24.99 — — — — RSUs and PSUs granted (5,604) — — — — 5,604 56.68 RSUs and PSUs vested — — — — — (3,733) 35.28 RSUs and PSUs forfeited 2,098 — — — — (2,098) 41.19 Balance as of January 31, 2022 25,469 4,987 $ 11.79 5.61 $ 182,453 8,331 $ 50.10 Exercisable as of January 31, 2022 4,418 $ 9.38 5.38 $ 172,135 Vested and expected to vest as of January 31, 2022 4,946 $ 11.60 5.59 $ 181,879 7,010 |
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 consolidated statements of comprehensive loss is summarized as follows: Year Ended January 31, 2022 2021 2020 (In thousands) Cost of subscription revenue $ 7,712 $ 3,822 $ 2,547 Cost of professional services revenue 4,192 2,481 2,199 Research and development 35,914 18,715 10,608 Sales and marketing 69,590 48,210 34,428 General and administrative 32,137 30,398 30,264 Total stock-based compensation expense $ 149,545 $ 103,626 $ 80,046 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Payments Under Non-cancellable Purchase Commitments | Future minimum payments under our non-cancelable purchase commitments are presented in the table below: Purchase (In thousands) Years ending January 31, 2023 $ 57,311 2024 56,617 2025 45,115 2026 33,433 2027 16,200 Thereafter — Total future minimum payments $ 208,676 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Components of Loss Before Income Taxes | The components of the loss before income taxes were as follows: Year Ended January 31, 2022 2021 2020 (In thousands) Domestic $ (209,143) $ (157,373) $ (115,107) Foreign 1,458 7,497 (29,657) Total $ (207,685) $ (149,876) $ (144,764) |
Components of Provision for Income Taxes | The Benefit from (provision for) income taxes was as follows: Year Ended January 31, 2022 2021 2020 (In thousands) Current: Federal $ (42) $ (1,311) $ — State (43) (90) (76) Foreign (2,667) (288) (1,741) Total current income tax expense $ (2,752) (1,689) (1,817) Deferred: Federal $ — $ — $ — State — — — Foreign 6,838 (2,402) (2,636) Total deferred income tax expense 6,838 (2,402) (2,636) Total benefit from (provision for) income tax $ 4,086 $ (4,091) $ (4,453) |
Schedule of Reconciliation of U.S. Federal Statutory Tax Rate to Company's Provision for Income Taxes | A reconciliation of the U.S. federal statutory tax rate to the Company’s benefit from (provision for) income taxes was as follows: Year Ended January 31, 2022 2021 2020 (In thousands) U.S. federal taxes at statutory tax rate $ 43,614 $ 31,474 $ 30,400 State taxes, net of federal benefit 6,618 10,479 9,427 Stock-based compensation 15,825 40,853 40,628 Change in valuation allowance (71,243) (84,772) (98,343) Foreign income taxed at various rates 13,292 6,623 5,986 Impact of provision to tax return adjustment 290 (3,640) 9,382 Other (4,310) (5,108) (1,933) Total $ 4,086 $ (4,091) $ (4,453) |
Significant Components of Net Deferred Tax Assets | Significant components of net deferred tax assets are as follows: As of January 31, 2022 2021 (In thousands) Deferred tax assets: Net operating losses $ 370,863 $ 282,400 Stock-based compensation 13,589 13,984 Accruals and reserves 5,568 5,992 Depreciation and amortization 2,068 2,295 Lease liabilities 7,963 9,524 Deferred research and development costs 1,746 1,321 Gross deferred tax assets 401,797 315,516 Valuation allowance (351,246) (280,412) Deferred tax liabilities: Depreciation and amortization (4,178) (4,247) Accruals and reserves (6,587) (2,583) ROU assets (5,812) (7,291) Deferred commissions (31,589) (27,098) Gross deferred tax liabilities (48,166) (41,219) Total net deferred tax liabilities $ 2,385 $ (6,115) |
Summary of Changes in Unrecognized Tax Benefits | Changes in our unrecognized tax benefits are summarized as follows: As of January 31, 2022 2021 (In thousands) Beginning balance $ 6,261 $ 6,530 Additions for current year items — 1,250 Lapse of statute of limitations (1,546) (1,519) Ending balance $ 4,715 $ 6,261 |
Net Loss Per Share Attributab_2
Net Loss Per Share Attributable to Common Stockholders (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
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: Year Ended January 31, 2022 2021 2020 (In thousands, except per share data) Numerator: Net loss $ (203,599) $ (153,967) $ (149,217) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 146,263 139,499 129,799 Net loss per share attributable to common stockholders, basic and diluted $ (1.39) $ (1.10) $ (1.15) |
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 January 31, 2022 2021 2020 (In thousands) Stock options 4,987 6,600 10,198 Stock repurchase rights — — 5 RSUs and PSUs 8,331 8,558 10,260 Unvested shares subject to repurchase — — 6 Total 13,318 15,158 20,469 |
Summary of Business and Signi_4
Summary of Business and Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended | ||
Jan. 31, 2022USD ($)countryreportingUnitsegment | Jan. 31, 2021USD ($)country | Jan. 31, 2020USD ($)country | |
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Number of reporting units | reportingUnit | 1 | ||
Number of operating segments | segment | 1 | ||
Allowance for credit losses | $ 3,200,000 | $ 3,200,000 | |
Concentration Risk, Number of Customers Over Benchmark | country | 2 | 2 | 2 |
Total revenue | $ 592,176,000 | $ 447,755,000 | $ 348,022,000 |
Contract assets | 200,000 | 300,000 | |
Deferred revenue recognized | $ 287,800,000 | 216,100,000 | 149,600,000 |
Amortization period | 5 years | ||
Impairment loss | $ 0 | 0 | 0 |
Remaining performance obligation | 1,092,500,000 | ||
Capitalized computer software | $ 19,300,000 | 13,600,000 | 13,600,000 |
Leasehold improvements | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 10 years | ||
Billed Revenues | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Remaining performance obligation | $ 382,200,000 | ||
Billed Revenues | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-02-01 | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Remaining performance obligation percentage | 50.00% | ||
Revenue, remaining performance obligation, expected timing of satisfaction, period | 12 months | ||
Unbilled Revenues | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Remaining performance obligation | $ 710,300,000 | ||
Unbilled Revenues | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-02-01 | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Remaining performance obligation percentage | 82.00% | ||
Revenue, remaining performance obligation, expected timing of satisfaction, period | 24 months | ||
United States | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Total revenue | $ 314,000,000 | 243,700,000 | 197,600,000 |
United Kingdom | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Total revenue | $ 72,700,000 | $ 53,300,000 | $ 41,500,000 |
Revenue | Customer Concentration Risk | United States | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Percentage of Revenue | 53.00% | 54.00% | 57.00% |
Revenue | Customer Concentration Risk | United Kingdom | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Percentage of Revenue | 12.00% | 12.00% | 12.00% |
Maximum | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 3 years | ||
Maximum | Capitalized Software | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 3 years | ||
Minimum | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 2 years | ||
Minimum | Capitalized Software | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Estimated useful lives | 2 years | ||
Cash and Cash Equivalents | Maximum | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Maturity term of liquid investments | 3 months | ||
Other Income (Expense), Net | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Foreign currency transaction gains (losses) | $ (6,700,000) | $ 3,800,000 | $ (400,000) |
Sales and marketing | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Advertising costs | $ 13,100,000 | $ 13,700,000 | $ 17,700,000 |
Summary of Business and Signi_5
Summary of Business and Significant Accounting Policies - Summary of Company's Long-lived Assets by Geographical Area Consist of Property and Equipment, Net and Operating Lease Right-Of-Use Assets (Detail) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Geographic areas, long-lived assets | ||
Long-lived assets | $ 94,406 | $ 85,588 |
United States | ||
Geographic areas, long-lived assets | ||
Long-lived assets | 53,409 | 61,111 |
United Kingdom | ||
Geographic areas, long-lived assets | ||
Long-lived assets | 30,141 | 17,862 |
Other | ||
Geographic areas, long-lived assets | ||
Long-lived assets | $ 10,856 | $ 6,615 |
Summary of Business and Signi_6
Summary of Business and Significant Accounting Policies - Summary of Revenue by Geographical Region Based of Customer (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 592,176 | $ 447,755 | $ 348,022 |
Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 592,176 | $ 447,755 | $ 348,022 |
Operating Segments | Revenue | Customer Concentration Risk | |||
Disaggregation of Revenue [Line Items] | |||
Percentage of Revenue | 100.00% | 100.00% | 100.00% |
Operating Segments | Americas | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 327,221 | $ 253,775 | $ 205,345 |
Operating Segments | Americas | Revenue | Customer Concentration Risk | |||
Disaggregation of Revenue [Line Items] | |||
Percentage of Revenue | 55.00% | 57.00% | 59.00% |
Operating Segments | EMEA | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 196,362 | $ 144,260 | $ 110,057 |
Operating Segments | EMEA | Revenue | Customer Concentration Risk | |||
Disaggregation of Revenue [Line Items] | |||
Percentage of Revenue | 33.00% | 32.00% | 32.00% |
Operating Segments | APAC | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 68,593 | $ 49,720 | $ 32,620 |
Operating Segments | APAC | Revenue | Customer Concentration Risk | |||
Disaggregation of Revenue [Line Items] | |||
Percentage of Revenue | 12.00% | 11.00% | 9.00% |
Summary of Business and Signi_7
Summary of Business and Significant Accounting Policies - Rollforward of the Company's Deferred Commissions (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Capitalized Contract Cost [Roll Forward] | ||
Beginning balance | $ 119,202 | $ 83,937 |
Additions to deferred commissions | 85,736 | 65,639 |
Amortization of deferred commissions | (42,635) | (33,404) |
Foreign currency translation effect of deferred commissions | (3,135) | 3,030 |
Ending balance | 159,168 | 119,202 |
Deferred commissions, current (to be recognized in next 12 months) | 49,124 | 36,797 |
Deferred commissions, net of current portion | 110,044 | 82,405 |
Total deferred commissions | $ 159,168 | $ 119,202 |
Consolidated Balance Sheet Co_3
Consolidated Balance Sheet Components - Schedule of Property and Equipment Net (Detail) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 158,560 | $ 120,702 |
Less: accumulated depreciation | (95,441) | (69,099) |
Property and equipment, net | 63,119 | 51,603 |
Computer and office equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 74,031 | 58,231 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 16,834 | 14,055 |
Internal-use software | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 50,680 | 41,475 |
Construction in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 17,015 | $ 6,941 |
Consolidated Balance Sheet Co_4
Consolidated Balance Sheet Components - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation expense | $ 27,200 | $ 24,500 | $ 19,900 |
Capitalized computer software | 19,300 | 13,600 | 13,600 |
Share based compensation expense | $ 149,545 | $ 103,626 | 80,046 |
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 | |
Software and Software Development Costs | |||
Property, Plant and Equipment [Line Items] | |||
Share based compensation expense | $ 5,600 | $ 3,500 | |
Amortization of intangible assets | $ 11,100 | $ 9,300 | $ 6,100 |
Consolidated Balance Sheet Co_5
Consolidated Balance Sheet Components - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Accrued Liabilities, Current [Abstract] | ||
Vendor accruals | $ 14,781 | $ 11,262 |
Accrued commission | 21,938 | 12,521 |
Accrued bonuses | 14,616 | 15,583 |
Accrued other payroll liabilities | 35,841 | 31,238 |
Current portion of finance lease obligations | 7,386 | 8,031 |
Accrued other | 29,329 | 22,872 |
Accrued expenses | $ 123,891 | $ 101,507 |
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] | Accrued expenses | Accrued expenses |
Bank Borrowing - Additional Inf
Bank Borrowing - Additional Information (Detail) - Third Amendment - Wells Fargo - Revolving Credit Facility - USD ($) | 1 Months Ended | ||
Apr. 30, 2020 | Jan. 31, 2022 | 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 - Schedule of Lease Cost
Leases - Schedule of Lease Cost (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Leases [Abstract] | |||
Operating lease costs | $ 10,056 | $ 10,060 | $ 10,748 |
Finance lease costs | |||
Amortization of assets | 9,805 | 8,510 | 5,737 |
Interest on lease liabilities | 494 | 725 | 826 |
Total finance lease costs | $ 10,299 | $ 9,235 | $ 6,563 |
Leases - Schedule of Supplement
Leases - Schedule of Supplemental Balance Sheet Information Related To Leases (Detail) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Operating leases: | ||
Operating lease ROU assets | $ 31,287 | $ 33,985 |
Operating lease liabilities, current portion | 10,400 | 7,951 |
Operating lease liabilities, net of current portion | 26,046 | 30,130 |
Total operating lease liabilities | 36,446 | 38,081 |
Finance leases: | ||
Property and equipment, gross | 39,499 | 29,132 |
Less: accumulated depreciation | (25,653) | (15,876) |
Property and equipment, net | 13,846 | 13,256 |
Accrued expenses | 7,386 | 8,031 |
Other noncurrent liabilities | 6,923 | 5,761 |
Total finance lease liabilities | $ 14,309 | $ 13,792 |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | Property and equipment, net | Property and equipment, net |
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] | Other noncurrent liabilities | Other noncurrent liabilities |
Leases - Schedule of Weighted-A
Leases - Schedule of Weighted-Average Lease Terms and Discount Rates (Detail) | Jan. 31, 2022 | Jan. 31, 2021 |
Weighted-average remaining lease terms | ||
Operating Leases | 4 years | 4 years 9 months 18 days |
Finance Leases | 2 years 1 month 6 days | 1 year 9 months 18 days |
Weighted-average discount rates | ||
Operating Leases | 5.20% | 5.50% |
Finance Leases | 3.00% | 4.40% |
Leases - Schedule of Future Min
Leases - Schedule of Future Minimum Lease Payments Under Operating Leases and Finance Leases (Detail) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Finance Leases, Years ending January 31, | ||
2023 | $ 7,932 | |
2024 | 4,924 | |
2025 | 1,964 | |
2026 | 0 | |
2027 | 0 | |
Thereafter | 0 | |
Total lease payments | 14,820 | |
Less: amount representing interest | (511) | |
Less: leases less than 12 months | 0 | |
Total lease liabilities | 14,309 | $ 13,792 |
Operating Leases, Years ending January 31, | ||
2023 | 11,289 | |
2024 | 9,812 | |
2025 | 8,256 | |
2026 | 7,812 | |
2027 | 1,493 | |
Thereafter | 967 | |
Total lease payments | 39,629 | |
Less: amount representing interest | (2,798) | |
Less: leases less than 12 months | (385) | |
Total lease liabilities | $ 36,446 | $ 38,081 |
Leases - Additional Information
Leases - Additional Information (Detail) - Computer and office equipment - USD ($) $ in Millions | Mar. 18, 2022 | Jan. 31, 2022 |
Lease liabilities not yet commenced | $ 15 | |
Lease payment term | 3 years | |
Subsequent Event | ||
Lease liabilities not yet commenced | $ 8.5 | |
Lease payment term | 3 years |
Acquisition-Related Intangibl_3
Acquisition-Related Intangible Assets - Components of Identifiable Intangible Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross | $ 8,176 | $ 8,176 |
Accumulated Amortization | (4,003) | (2,663) |
Intangible Assets, Net | 4,173 | 5,513 |
Developed technology | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross | 5,200 | 5,200 |
Accumulated Amortization | (2,427) | (1,387) |
Intangible Assets, Net | $ 2,773 | $ 3,813 |
Remaining Amortization Periods | 2 years 8 months 12 days | 3 years 8 months 12 days |
Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross | $ 2,976 | $ 2,976 |
Accumulated Amortization | (1,576) | (1,276) |
Intangible Assets, Net | $ 1,400 | $ 1,700 |
Remaining Amortization Periods | 4 years 8 months 12 days | 5 years 8 months 12 days |
Acquisition-Related Intangibl_4
Acquisition-Related Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Mintigo Limited | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization expense related to acquisition-related intangible assets | $ 1.3 | $ 1.3 | $ 0.5 |
Acquisition-Related Intangibl_5
Acquisition-Related Intangible Assets - Summary of Expected Future Intangible Assets Amortization (Detail) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ||
2023 | $ 1,340 | |
2024 | 1,340 | |
2025 | 993 | |
2026 | 300 | |
2027 | 200 | |
Thereafter | 0 | |
Intangible Assets, Net | $ 4,173 | $ 5,513 |
Employee Stock Plans - Addition
Employee Stock Plans - Additional Information (Detail) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||
Oct. 31, 2018 | Sep. 30, 2018customershares | Mar. 31, 2012 | Jan. 31, 2022USD ($)award$ / sharesshares | Jan. 31, 2021USD ($)$ / sharesshares | Jan. 31, 2020USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Common stock, shares authorized (in shares) | 1,750,000,000 | 1,750,000,000 | ||||
Common stock, capital shares reserved for future issuance (in shares) | 43,462,000 | 40,439,000 | ||||
Share based compensation expense | $ | $ 149,545 | $ 103,626 | $ 80,046 | |||
Expected dividend yield | 0.00% | |||||
Total intrinsic value of options exercised | $ | $ 64,300 | $ 129,500 | $ 194,100 | |||
Weighted-average grant date fair value of options granted (in dollars per share) | $ / shares | $ 14.36 | $ 13.87 | ||||
Employee Stock | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Common stock issuable, percentage | 1.00% | |||||
Stock authorized to be reserved for grants of awards (in shares) | 2,700,000 | |||||
Purchase price of common stock, percent | 85.00% | |||||
Issuance of common stock under employee stock purchase plan (in shares) | 500,000 | 400,000 | 1,200,000 | |||
Weighted average price per share (in dollars per share) | $ / shares | $ 41.28 | $ 41.67 | $ 15.78 | |||
Share based compensation expense | $ | $ 10,400 | $ 7,800 | $ 5,900 | |||
Research and development | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share based compensation expense | $ | 35,914 | 18,715 | 10,608 | |||
Stock based compensation capitalized | $ | $ 5,600 | $ 3,500 | $ 2,300 | |||
Restricted Stock Units | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unrecognized stock based compensation, Weighted-average period | 2 years 9 months 18 days | |||||
Unrecognized stock-based compensation cost related to outstanding unvested RSUs expected to vest | $ | $ 287,300 | |||||
Outstanding stock options | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Common stock, capital shares reserved for future issuance (in shares) | 4,987,000 | 6,600,000 | ||||
Contract term of award | 10 years | |||||
Expected dividend yield | 0.00% | 0.00% | ||||
Unrecognized stock-based compensation | $ | $ 4,800 | |||||
Unrecognized stock based compensation, Weighted-average period | 1 year 6 months | |||||
Employee Stock | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Consecutive offering period | 12 months | |||||
Number of purchase periods | customer | 2 | |||||
Purchase period | 6 months | |||||
Expected dividend yield | 0.00% | 0.00% | 0.00% | |||
Performance Shares | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unrecognized stock based compensation, Weighted-average period | 2 years | |||||
Number of award types | award | 2 | |||||
Unrecognized stock-based compensation cost related to outstanding unvested RSUs expected to vest | $ | $ 14,300 | |||||
Tranche One | Outstanding stock options | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting percentage | 25.00% | |||||
Tranche One | Performance Shares | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Requisite service period | 1 year | |||||
Tranche Two | Performance Shares | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Requisite service period | 2 years | |||||
Tranche Three | Performance Shares | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Requisite service period | 3 years | |||||
Maximum | Employee Stock | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share based compensation number of additional shares authorized (in shares) | 1,500,000 | |||||
Maximum | Performance Shares | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Amount granted | 2 | |||||
Minimum | Performance Shares | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Amount granted | 0 | |||||
2012 Plan | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award vesting period | 4 years | |||||
Stock option and RSUs outstanding (in shares) | 4,800,000 | |||||
Common stock, capital shares reserved for future issuance (in shares) | 0 | |||||
Shares available for future issuances under the 2018 Stock Plan | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award vesting period | 4 years | |||||
Stock option and RSUs outstanding (in shares) | 8,500,000 | |||||
Common stock, capital shares reserved for future issuance (in shares) | 25,469,000 | 21,564,000 | ||||
Common stock issuable, percentage | 5.00% | |||||
Share based compensation number of additional shares authorized (in shares) | 7,500,000 |
Employee Stock Plans - Schedule
Employee Stock Plans - Schedule of Shares Reserved for Future Issuance (Detail) - shares shares in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance (in shares) | 43,462 | 40,439 |
Outstanding stock options | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance (in shares) | 4,987 | 6,600 |
Outstanding restricted stock units and performance-based restricted stock units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance (in shares) | 8,331 | 8,558 |
Shares available for future issuances under the 2018 Stock Plan | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance (in shares) | 25,469 | 21,564 |
Shares available for future issuances under the 2018 ESPP | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance (in shares) | 4,675 | 3,717 |
Employee Stock Plans - Schedu_2
Employee Stock Plans - Schedule of Black-Scholes Assumptions to Value ESPP (Detail) | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected dividend yield | 0.00% | ||
Employee Stock | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Employee Stock | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate, minimum | 0.06% | 0.09% | 1.52% |
Risk-free interest rate, maximum | 0.29% | 2.05% | 2.69% |
Expected volatility, minimum | 40.30% | 34.90% | 32.50% |
Expected volatility, maximum | 40.50% | 64.00% | 42.90% |
Employee Stock | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (years) | 6 months | 6 months | 6 months |
Employee Stock | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (years) | 1 year | 1 year | 1 year 2 months 8 days |
Employee Stock Plans - Summary
Employee Stock Plans - Summary of Black-Scholes Assumptions To Value Employee Options At Grant Dates (Detail) - $ / shares | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Expected dividend yield | 0.00% | ||
Outstanding stock options | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Risk-free interest rate, minimum | 0.36% | 1.51% | |
Risk-free interest rate, maximum | 1.40% | 2.54% | |
Expected volatility, minimum | 36.90% | 37.50% | |
Expected volatility, maximum | 40.30% | 38.80% | |
Expected dividend yield | 0.00% | 0.00% | |
Outstanding stock options | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Fair value of common stock (in dollars per share) | $ 37.61 | $ 32.75 | |
Expected term (years) | 5 years 1 month 20 days | 5 years 25 days | |
Outstanding stock options | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Fair value of common stock (in dollars per share) | $ 59.91 | $ 58.82 | |
Expected term (years) | 6 years 29 days | 6 years 3 months |
Employee Stock Plans - Summar_2
Employee Stock Plans - Summary of Stock Option, RSU and PSU Activities (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Shares Available for Grant | ||
Beginning balance (in shares) | 21,564 | |
Shares authorized (in shares) | 7,175 | |
Options forfeited (in shares) | 236 | |
RSUs and PSUs granted (in shares) | (5,604) | |
RSUs and PSUs forfeited (in shares) | 2,098 | |
Ending balance (in shares) | 25,469 | 21,564 |
Shares Subject to Options Outstanding | ||
Beginning balance (in shares) | 6,600 | |
Options exercised (in shares) | (1,377) | |
Options forfeited (in shares) | (236) | |
Ending balance (in shares) | 4,987 | 6,600 |
Exercisable at year-end (in shares) | 4,418 | |
Vested and expected to vest (in shares) | 4,946 | |
Weighted Average Exercise Price | ||
Beginning balance (in dollars per share) | $ 11.83 | |
Options exercised (in dollars per share) | 9.73 | |
Options forfeited (in dollars per share) | 24.99 | |
Ending balance (in dollars per share) | 11.79 | $ 11.83 |
Exercisable at year-end (in dollars per share) | 9.38 | |
Vested and expected to vest (in dollars per share) | $ 11.60 | |
Average Remaining Contractual Life (Years) | ||
Average remaining contractual life, beginning balance | 5 years 7 months 9 days | 6 years 10 months 6 days |
Average remaining contractual life, ending balance | 5 years 7 months 9 days | 6 years 10 months 6 days |
Average remaining contractual life, year-end | 5 years 4 months 17 days | |
Average remaining contractual life, vested and expected to vest | 5 years 7 months 2 days | |
Aggregate intrinsic value, beginning balance | $ 362,149 | |
Aggregate intrinsic value, ending balance | 182,453 | $ 362,149 |
Aggregate intrinsic value, year-end | 172,135 | |
Aggregate intrinsic value, vested and expected to vest | $ 181,879 | |
Restricted Stock Units and Performance Share-based Units | ||
RSUs and PSUs Outstanding Shares | ||
Beginning balance nonvested RSUs and PSUs (in shares) | 8,558 | |
RSUs and PSUs granted (in shares) | 5,604 | |
RSUs and PSUs vested (in shares) | (3,733) | |
RSUs and PSUs forfeited (in shares) | (2,098) | |
Ending balance nonvested RSUs and PSUs (in shares) | 8,331 | 8,558 |
Vested and expected to vest as of year end | $ 7,010 | |
Weighted- Average Grant Date Fair Value | ||
Beginning balance (in dollars per share) | $ 37.15 | |
RSUs and PSUs granted (in dollars per share) | 56.68 | |
RSUs and PSUs vested (in dollars per share) | 35.28 | |
RSUs and PSUS forfeited (in dollars per share) | 41.19 | |
Ending balance (in dollars per share) | $ 50.10 | $ 37.15 |
Employee Stock Plans - Summar_3
Employee Stock Plans - Summary of Stock-Based Compensation Expense, Net of Estimated Forfeitures (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation expense | $ 149,545 | $ 103,626 | $ 80,046 |
Subscription revenue | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation expense | 7,712 | 3,822 | 2,547 |
Professional services revenue | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation expense | 4,192 | 2,481 | 2,199 |
Research and development | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation expense | 35,914 | 18,715 | 10,608 |
Sales and marketing | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation expense | 69,590 | 48,210 | 34,428 |
General and administrative | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Stock-based compensation expense | $ 32,137 | $ 30,398 | $ 30,264 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions | Jan. 31, 2022 | Jan. 31, 2021 |
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 | $ 196.7 | $ 240 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) | 12 Months Ended |
Jan. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Warranty implementation services | 30 days |
Commitments and Contingencies_2
Commitments and Contingencies - Schedule of Future Minimum Payments Under Non-cancellable Purchase Commitments (Detail) $ in Thousands | Jan. 31, 2022USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2023 | $ 57,311 |
2024 | 56,617 |
2025 | 45,115 |
2026 | 33,433 |
2027 | 16,200 |
Thereafter | 0 |
Total future minimum payments | $ 208,676 |
Income Taxes - Components of Lo
Income Taxes - Components of Loss Before Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Income Tax Disclosure [Abstract] | |||
Domestic | $ (209,143) | $ (157,373) | $ (115,107) |
Foreign | 1,458 | 7,497 | (29,657) |
Loss before income taxes | $ (207,685) | $ (149,876) | $ (144,764) |
Income Taxes - Components of Be
Income Taxes - Components of Benefit from (Provision for) Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Current: | |||
Federal | $ (42) | $ (1,311) | $ 0 |
State | (43) | (90) | (76) |
Foreign | (2,667) | (288) | (1,741) |
Total current income tax expense | (2,752) | (1,689) | (1,817) |
Deferred: | |||
Federal | 0 | 0 | 0 |
State | 0 | 0 | 0 |
Foreign | 6,838 | (2,402) | (2,636) |
Total deferred income tax expense | 6,838 | (2,402) | (2,636) |
Total benefit from (provision for) income tax | $ 4,086 | $ (4,091) | $ (4,453) |
Income Taxes - Schedule of Reco
Income Taxes - Schedule of Reconciliation of U.S. Federal Statutory Tax Rate to Company's Benefit from (Provision for) Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Components Of Benefit From (Provision For) Income Taxes [Abstract] | |||
U.S. federal taxes at statutory tax rate | $ 43,614 | $ 31,474 | $ 30,400 |
State taxes, net of federal benefit | 6,618 | 10,479 | 9,427 |
Stock-based compensation | 15,825 | 40,853 | 40,628 |
Change in valuation allowance | (71,243) | (84,772) | (98,343) |
Foreign income taxed at various rates | 13,292 | 6,623 | 5,986 |
Impact of provision to tax return adjustment | 290 | (3,640) | 9,382 |
Other | (4,310) | (5,108) | (1,933) |
Total benefit from (provision for) income tax | $ 4,086 | $ (4,091) | $ (4,453) |
Income Taxes - Significant Comp
Income Taxes - Significant Components of Net Deferred Tax Assets (Detail) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Deferred tax assets: | ||
Net operating losses | $ 370,863 | $ 282,400 |
Stock-based compensation | 13,589 | 13,984 |
Accruals and reserves | 5,568 | 5,992 |
Depreciation and amortization | 2,068 | 2,295 |
Lease liabilities | 7,963 | 9,524 |
Deferred research and development costs | 1,746 | 1,321 |
Gross deferred tax assets | 401,797 | 315,516 |
Valuation allowance | (351,246) | (280,412) |
Deferred tax liabilities: | ||
Depreciation and amortization | (4,178) | (4,247) |
Accruals and reserves | (6,587) | (2,583) |
ROU assets | (5,812) | (7,291) |
Deferred commissions | (31,589) | (27,098) |
Gross deferred tax liabilities | (48,166) | (41,219) |
Total net deferred tax liabilities | $ 2,385 | |
Total net deferred tax liabilities | $ (6,115) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Income Taxes [Line Items] | ||
Income tax benefit, adjustment of deferred tax asset | $ 7,600 | |
Increase (decrease) in valuation allowance | 70,800 | $ 90,700 |
Lapse of statute of limitations | 1,546 | $ 1,519 |
Decrease in unrecognized tax benefits is reasonably possible | 1,100 | |
Federal | ||
Income Taxes [Line Items] | ||
Net operating loss carryforwards | 1,223,800 | |
State Jurisdictions | ||
Income Taxes [Line Items] | ||
Net operating loss carryforwards | 419,900 | |
State Jurisdictions | California | ||
Income Taxes [Line Items] | ||
Net operating loss carryforwards | 246,000 | |
Foreign | United Kingdom | ||
Income Taxes [Line Items] | ||
Net operating loss carryforwards | $ 260,500 |
Income Taxes - Summary of Chang
Income Taxes - Summary of Changes in Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | $ 6,261 | $ 6,530 |
Additions for current year items | 0 | 1,250 |
Lapse of statute of limitations | (1,546) | (1,519) |
Ending balance | $ 4,715 | $ 6,261 |
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 | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Numerator: | |||
Net loss | $ (203,599) | $ (153,967) | $ (149,217) |
Denominator: | |||
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) | 146,263 | 139,499 | 129,799 |
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) | 146,263 | 139,499 | 129,799 |
Net loss per share attributable to common stockholders, basic (in dollars per share) | $ (1.39) | $ (1.10) | $ (1.15) |
Net loss per share attributable to common stockholders, diluted (in dollars per share) | $ (1.39) | $ (1.10) | $ (1.15) |
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 | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potentially dilutive securities that were not included in the diluted per share calculations | 13,318 | 15,158 | 20,469 |
Outstanding 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 calculations | 4,987 | 6,600 | 10,198 |
Stock repurchase rights | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potentially dilutive securities that were not included in the diluted per share calculations | 0 | 0 | 5 |
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 calculations | 8,331 | 8,558 | 10,260 |
Unvested shares subject to repurchase | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potentially dilutive securities that were not included in the diluted per share calculations | 0 | 0 | 6 |
Employee Benefit Plans - Additi
Employee Benefit Plans - Additional information (Detail) | Jan. 01, 2013 |
Retirement Benefits [Abstract] | |
Maximum percentage of salary contribution to employee benefit plan | 90.00% |
Subsequent Event (Details)
Subsequent Event (Details) - Anaplan, Inc. - Alpine Parent, LLC - Forecast $ / shares in Units, $ in Millions | Mar. 20, 2022USD ($)$ / shares |
Subsequent Event [Line Items] | |
Total purchase consideration | $ 10,700 |
Equity interests issued and issuable, cash paid per acquiree share (in dollars per share) | $ / shares | $ 66 |
Termination fee payable to Parent | $ 293.1 |
Termination fee receivable from parent | $ 586.2 |