Cover
Cover - shares | 3 Months Ended | |
Apr. 30, 2022 | May 27, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Apr. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-38698 | |
Entity Registrant Name | ANAPLAN, INC. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 27-0897861 | |
Entity Address, Address Line One | 50 Hawthorne Street | |
Entity Address, City or Town | San Francisco | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94105 | |
City Area Code | 415 | |
Local Phone Number | 742-8199 | |
Title of 12(b) Security | Common Stock, $0.0001 par value per share | |
Trading Symbol | PLAN | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 150,527,991 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q1 | |
Entity Central Index Key | 0001540755 | |
Current Fiscal Year End Date | --01-31 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Apr. 30, 2022 | Jan. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 304,021 | $ 299,371 |
Accounts receivable, net of allowances for credit losses of $3,090 and $3,224 as of April 30, 2022 and January 31, 2022, respectively | 132,657 | 196,500 |
Deferred commissions, current portion | 50,636 | 49,124 |
Prepaid expenses and other current assets | 34,650 | 32,814 |
Total current assets | 521,964 | 577,809 |
Property and equipment, net | 63,258 | 63,119 |
Deferred commissions, net of current portion | 109,409 | 110,044 |
Goodwill | 32,379 | 32,379 |
Operating lease right-of-use assets | 28,736 | 31,287 |
Other noncurrent assets | 20,226 | 17,997 |
TOTAL ASSETS | 775,972 | 832,635 |
Current liabilities: | ||
Accounts payable | 9,064 | 9,294 |
Accrued expenses | 113,426 | 123,891 |
Deferred revenue, current portion | 352,121 | 378,882 |
Operating lease liabilities, current portion | 10,081 | 10,400 |
Total current liabilities | 484,692 | 522,467 |
Deferred revenue, net of current portion | 2,226 | 3,271 |
Operating lease liabilities, net of current portion | 23,628 | 26,046 |
Other noncurrent liabilities | 19,039 | 18,150 |
TOTAL LIABILITIES | 529,585 | 569,934 |
Stockholders' equity: | ||
Common stock, par value of $0.0001 per share; 1,750,000 shares authorized as of April 30, 2022 and January 31, 2022; 150,483 and 149,089 shares issued and outstanding as of April 30, 2022 and January 31, 2022 | 15 | 15 |
Accumulated other comprehensive loss | (9,863) | (7,696) |
Additional paid-in capital | 1,164,672 | 1,120,959 |
Accumulated deficit | (908,437) | (850,577) |
TOTAL STOCKHOLDERS' EQUITY | 246,387 | 262,701 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 775,972 | $ 832,635 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Apr. 30, 2022 | Jan. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Accounts receivable, net, allowances for credit losses | $ 3,090 | $ 3,224 |
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) | 150,483,000 | 149,089,000 |
Common stock, shares outstanding (in shares) | 150,483,000 | 149,089,000 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
Revenue: | ||
Total revenue | $ 169,159 | $ 129,825 |
Cost of revenue: | ||
Total cost of revenue | 46,563 | 32,821 |
Gross profit | 122,596 | 97,004 |
Operating expenses: | ||
Research and development | 43,738 | 33,212 |
Sales and marketing | 98,387 | 88,470 |
General and administrative | 40,583 | 24,945 |
Total operating expenses | 182,708 | 146,627 |
Loss from operations | (60,112) | (49,623) |
Interest income (expense), net | (31) | (151) |
Other income (expense), net | 2,566 | (459) |
Loss before income taxes | (57,577) | (50,233) |
Provision for income taxes | (283) | (1,258) |
Net loss | (57,860) | (51,491) |
Comprehensive loss: | ||
Foreign currency translation adjustments | (2,167) | (1,275) |
Comprehensive loss | $ (60,027) | $ (52,766) |
Net loss per share attributable to common stockholders, basic (in dollars per share) | $ (0.39) | $ (0.36) |
Net loss per share attributable to common stockholders, diluted (in dollars per share) | $ (0.39) | $ (0.36) |
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) | 149,877 | 144,161 |
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) | 149,877 | 144,161 |
Subscription revenue | ||
Revenue: | ||
Total revenue | $ 152,343 | $ 118,343 |
Cost of revenue: | ||
Total cost of revenue | 28,635 | 21,329 |
Professional services revenue | ||
Revenue: | ||
Total revenue | 16,816 | 11,482 |
Cost of revenue: | ||
Total cost of revenue | $ 17,928 | $ 11,492 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Loss | Accumulated Deficit |
Beginning balance at Jan. 31, 2021 | $ 278,013 | $ 14 | $ 932,505 | $ (7,528) | $ (646,978) |
Beginning balance (in shares) at Jan. 31, 2021 | 143,502 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Stock-based compensation | 35,352 | 35,352 | |||
Exercise of stock options, net of repurchases and early exercises | 2,098 | 2,098 | |||
Exercise of stock options, net of repurchases and early exercises (in shares) | 357 | ||||
Vesting of restricted stock units (in shares) | 823 | ||||
Net loss | (51,491) | (51,491) | |||
Foreign currency translation adjustments | (1,275) | (1,275) | |||
Ending balance at Apr. 30, 2021 | 262,697 | $ 14 | 969,955 | (8,803) | (698,469) |
Ending balance (in shares) at Apr. 30, 2021 | 144,682 | ||||
Beginning balance at Jan. 31, 2022 | 262,701 | $ 15 | 1,120,959 | (7,696) | (850,577) |
Beginning balance (in shares) at Jan. 31, 2022 | 149,089 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Stock-based compensation | 39,552 | 39,552 | |||
Exercise of stock options, net of repurchases and early exercises | 4,161 | 4,161 | |||
Exercise of stock options, net of repurchases and early exercises (in shares) | 549 | ||||
Vesting of restricted stock units (in shares) | 845 | ||||
Net loss | (57,860) | (57,860) | |||
Foreign currency translation adjustments | (2,167) | (2,167) | |||
Ending balance at Apr. 30, 2022 | $ 246,387 | $ 15 | $ 1,164,672 | $ (9,863) | $ (908,437) |
Ending balance (in shares) at Apr. 30, 2022 | 150,483 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (57,860) | $ (51,491) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 7,181 | 6,970 |
Amortization of deferred commissions | 12,506 | 9,708 |
Stock-based compensation | 38,529 | 34,071 |
Reduction of operating lease right-of-use assets and accretion of operating lease liabilities | 2,495 | 2,434 |
Foreign currency remeasurement gains | (2,437) | (554) |
Other non-cash items | 0 | 230 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 61,317 | 43,939 |
Prepaid expenses and other current assets | (2,577) | (1,301) |
Other noncurrent assets | 298 | (108) |
Deferred commissions | (17,347) | (12,547) |
Accounts payable and accrued expenses | (7,233) | (11,120) |
Deferred revenue | (18,263) | (4,845) |
Payments for operating lease liabilities, net | (2,695) | (2,293) |
Other noncurrent liabilities | 455 | 716 |
Net cash provided by operating activities | 14,369 | 13,809 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of property and equipment | (878) | (3,113) |
Capitalized internal-use software | (3,629) | (3,086) |
Net cash used in investing activities | (4,507) | (6,199) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from exercise of stock options | 4,161 | 2,092 |
Principal payments on finance lease obligations | (2,156) | (2,520) |
Net cash provided by (used in) financing activities | 2,005 | (428) |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (4,320) | (656) |
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | 7,547 | 6,526 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH - Beginning of period | 299,371 | 320,990 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH - End of period | 306,918 | 327,516 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Cash paid for interest | 99 | 145 |
Cash paid for income taxes | 316 | 784 |
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
Decrease in purchases of property and equipment included in liabilities | (910) | (482) |
Finance leases for property and equipment | 3,719 | 2,910 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract] | ||
Cash and cash equivalents | 304,021 | |
Restricted cash included in other noncurrent assets | 2,897 | |
Total cash, cash equivalents, and restricted cash shown in the unaudited condensed consolidated statements of cash flows | $ 306,918 | $ 327,516 |
Summary of Business and Signifi
Summary of Business and Significant Accounting Policies | 3 Months Ended |
Apr. 30, 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. 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 “HSR Act”). The Company made the necessary filings with the FTC and the Antitrust Division of the DOJ on April 1, 2022, and the 30-day waiting period with respect to which expired at 11:59 p.m. Eastern Time on Monday, May 2, 2022. The Transaction is expected to close in June 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. Fiscal Year The Company’s fiscal year ends on January 31. References to fiscal 2023, for example, refer to the fiscal year ending January 31, 2023. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting and include the accounts of the Company and its wholly owned subsidiaries (collectively, the Company). All significant intercompany balances and transactions have been eliminated in consolidation. The unaudited condensed consolidated balance sheet as of January 31, 2022, included herein was derived from the audited financial statements as of that date, but does not include all disclosures including certain notes required by U.S. GAAP on an annual reporting basis. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of comprehensive loss, statements of stockholders’ equity, and statements of cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year or any future period. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Form 10-K filed with the SEC on March 23, 2022. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Such estimates include, but are not limited to, the determination of revenue recognition, certain assumptions in the valuation of stock awards, the determination of the period of benefit for deferred commissions, the determination of the incremental borrowing rate used for operating lease liabilities, and the allowance for credit losses. Actual results could differ from those estimates. As of the date of filing of these unaudited condensed consolidated financial statements, the Company is not aware of any specific event or circumstance that would require updating significant estimates or judgments or revising the carrying value of the Company's assets or liabilities as presented in the unaudited interim condensed consolidated financial statements. These estimates may change as new events occur and additional information is obtained. Actual results could differ from those estimates and any such differences may be material to our financial statements. 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, presented within other noncurrent assets on the accompanying condensed consolidated balance sheet, was $2.9 million as of April 30, 2022. Summary of Significant Accounting Policies The Company’s significant accounting policies are discussed in Note 1 of the notes to the consolidated financial statements included in the Company’s Form 10-K filed with the SEC on March 23, 2022. There have been no significant changes to these policies during the three months ended April 30, 2022. Recently Issued Accounting Pronouncements In October 2021, the Financial Accounting Standards Board issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which amends the accounting related to contract assets and liabilities acquired in business combinations. Under current GAAP, an entity generally recognizes assets and liabilities acquired in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers, at fair value on the acquisition date. ASU 2021-08 requires that entities recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC Topic 606, Revenue from Contracts with Customers. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, and should be applied prospectively to businesses combinations occurring on or after the effective date of the amendment. Early adoption is permitted, including adoption in an interim period. We are currently evaluating the timing and overall impact of this standard on our condensed consolidated financial statements. |
Consolidated Balance Sheet Comp
Consolidated Balance Sheet Components | 3 Months Ended |
Apr. 30, 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 April 30, 2022 January 31, 2022 (In thousands) Computer and office equipment $ 77,870 $ 74,031 Leasehold improvements 18,393 16,834 Internal-use software 50,381 50,680 Construction in progress 17,334 17,015 Property and equipment, gross 163,978 158,560 Less: accumulated depreciation (100,720) (95,441) Property and equipment, net $ 63,258 $ 63,119 Depreciation expense was $6.8 million and $6.6 million for the three months ended April 30, 2022 and 2021, respectively. The Company capitalized $5.1 million and $4.2 million in internal-use software in the three months ended April 30, 2022 and 2021, respectively, of which $1.5 million and $1.1 million was stock-based compensation expense for each respective period. Amortization of the capitalized internal-use software, included in total depreciation expense above, was $2.8 million and $2.6 million in the three months ended April 30, 2022 and 2021, respectively. Accrued Expenses Accrued expenses consisted of the following: As of April 30, 2022 January 31, 2022 (In thousands) Vendor accruals $ 21,441 $ 14,781 Accrued commission 12,222 21,938 Accrued bonuses 8,309 14,616 Accrued other payroll liabilities 34,202 35,841 Current portion of finance lease obligations 7,727 7,386 Accrued other 29,525 29,329 Accrued expenses $ 113,426 $ 123,891 Preferred Stock As of April 30, 2022 and January 31, 2022, the authorized preferred stock of the Company consisted of 25 million shares with a par value of $0.0001 per share. There were no shares of preferred stock issued and outstanding as of April 30, 2022, and January 31, 2022. |
Bank Borrowing
Bank Borrowing | 3 Months Ended |
Apr. 30, 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 Bank, N.A. (“Wells Fargo”) as administrative agent and lender (the “Third Amendment”). Among other things, the Third Amendment further amends the Credit Agreement entered into with Wells Fargo in April 2018, as amended in September 2018 and October 2019 (the “Credit Agreement”) in order to: (1) increase the aggregate revolving credit commitment amount by $20.0 million, so that the Company may borrow up to $60.0 million under a secured revolving credit facility, subject to the terms of the Credit Agreement including the accounts receivable borrowing base, for general corporate purposes; and (2) extend the maturity date of the revolving credit facility until April 23, 2022. Also, pursuant to the Third Amendment, any loans drawn on the credit facility will incur interest at a rate equal to the highest of (A) the prime rate, (B) the federal funds rate plus 0.5%, and (C) the one-month LIBOR plus 1%. Interest is payable monthly in arrears with the principal and any accrued and unpaid interest due on April 23, 2022. This Credit Agreement expired on April 23, 2022. As of April 30, 2022 and January 31, 2022, there were no borrowings outstanding. |
Leases
Leases | 3 Months Ended |
Apr. 30, 2022 | |
Leases [Abstract] | |
Leases | Leases The Company leases certain facilities under operating leases, and property and equipment under finance leases that expire from fiscal 2023 to 2028. The components of lease expense were as follows: Three Months Ended April 30, 2022 2021 (In thousands) Operating lease costs $ 2,495 $ 2,434 Finance lease costs Amortization of assets $ 2,178 $ 2,570 Interest on lease liabilities 99 145 Total finance lease costs $ 2,277 $ 2,715 Supplemental balance sheet information related to leases is as follows: As of April 30, 2022 January 31, 2022 (In thousands) Operating leases: Operating lease ROU assets $ 28,736 $ 31,287 Operating lease liabilities, current portion $ 10,081 $ 10,400 Operating lease liabilities, net of current portion 23,628 26,046 Total operating lease liabilities $ 33,709 $ 36,446 Finance leases: Property and equipment, gross $ 42,973 $ 39,499 Less: accumulated depreciation (27,756) (25,653) Property and equipment, net $ 15,217 $ 13,846 Accrued expenses $ 7,727 $ 7,386 Other noncurrent liabilities 7,836 6,923 Total finance lease liabilities $ 15,563 $ 14,309 Weighted-average lease terms and discount rates are as follows: As of April 30, 2022 Operating Leases Finance Leases Weighted-average remaining lease terms 3.8 years 2.2 years Weighted-average discount rates 5.3% 3.3% Future minimum lease payments under operating leases and finance leases as of April 30, 2022, are as follows: As of April 30, 2022 Operating Leases Finance Leases (In thousands) Years ending January 31, 2023 (remaining 9 months) $ 8,474 $ 6,594 2024 9,653 6,172 2025 8,157 3,267 2026 7,743 331 2027 1,493 — Thereafter 972 — Total lease payments 36,492 16,364 Less: amount representing interest (2,345) (801) Less: leases less than 12 months (438) — Total lease liabilities $ 33,709 $ 15,563 The Company enters into commitments to lease computer and office equipment for which the timing of the lease payments is not determined until the date of commencement. As of April 30, 2022, the amounts related to these leases were approximately $19.0 million, which are to be paid over three years after the date of commencement. |
Leases | Leases The Company leases certain facilities under operating leases, and property and equipment under finance leases that expire from fiscal 2023 to 2028. The components of lease expense were as follows: Three Months Ended April 30, 2022 2021 (In thousands) Operating lease costs $ 2,495 $ 2,434 Finance lease costs Amortization of assets $ 2,178 $ 2,570 Interest on lease liabilities 99 145 Total finance lease costs $ 2,277 $ 2,715 Supplemental balance sheet information related to leases is as follows: As of April 30, 2022 January 31, 2022 (In thousands) Operating leases: Operating lease ROU assets $ 28,736 $ 31,287 Operating lease liabilities, current portion $ 10,081 $ 10,400 Operating lease liabilities, net of current portion 23,628 26,046 Total operating lease liabilities $ 33,709 $ 36,446 Finance leases: Property and equipment, gross $ 42,973 $ 39,499 Less: accumulated depreciation (27,756) (25,653) Property and equipment, net $ 15,217 $ 13,846 Accrued expenses $ 7,727 $ 7,386 Other noncurrent liabilities 7,836 6,923 Total finance lease liabilities $ 15,563 $ 14,309 Weighted-average lease terms and discount rates are as follows: As of April 30, 2022 Operating Leases Finance Leases Weighted-average remaining lease terms 3.8 years 2.2 years Weighted-average discount rates 5.3% 3.3% Future minimum lease payments under operating leases and finance leases as of April 30, 2022, are as follows: As of April 30, 2022 Operating Leases Finance Leases (In thousands) Years ending January 31, 2023 (remaining 9 months) $ 8,474 $ 6,594 2024 9,653 6,172 2025 8,157 3,267 2026 7,743 331 2027 1,493 — Thereafter 972 — Total lease payments 36,492 16,364 Less: amount representing interest (2,345) (801) Less: leases less than 12 months (438) — Total lease liabilities $ 33,709 $ 15,563 The Company enters into commitments to lease computer and office equipment for which the timing of the lease payments is not determined until the date of commencement. As of April 30, 2022, the amounts related to these leases were approximately $19.0 million, which are to be paid over three years after the date of commencement. |
Acquisition-Related Intangible
Acquisition-Related Intangible Assets | 3 Months Ended |
Apr. 30, 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 April 30, 2022 January 31, 2022 (In thousands) Developed technology $ 5,200 $ 5,200 Customer relationships 2,976 2,976 Intangible assets, gross $ 8,176 $ 8,176 Less: accumulated amortization (4,338) (4,003) Intangible assets, net $ 3,838 $ 4,173 Amortization expense of acquisition-related intangible assets was immaterial for the three months ended April 30, 2022 and 2021. The expected future intangible assets amortization as of April 30, 2022 is as follows: As of April 30, 2022 (In thousands) Years ending January 31, 2023 (remaining 9 months) $ 1,005 2024 1,340 2025 993 2026 300 2027 200 Total future intangible assets amortization $ 3,838 |
Employee Stock Plans
Employee Stock Plans | 3 Months Ended |
Apr. 30, 2022 | |
Retirement Benefits [Abstract] | |
Employee Stock Plans | Employee Stock Plans As of April 30, 2022 and 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 April 30, 2022 January 31, 2022 (In thousands) Outstanding stock options 4,425 4,987 Outstanding restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”) 9,188 8,331 Shares available for future issuances under the 2018 Stock Plan 31,234 25,469 Shares available for future issuances under the 2018 ESPP 6,166 4,675 Total 51,013 43,462 Stock Options A summary of stock option activity for the three months ended April 30, 2022, was as follows: Number of Shares Weighted Average Exercise Price Aggregate Intrinsic Value (In thousands) (In thousands) Balance as of January 31, 2022 4,987 $ 11.79 $ 182,453 Options exercised (549) 7.57 — Options forfeited (13) 51.75 — Balance as of April 30, 2022 4,425 $ 12.20 $ 233,598 Exercisable as of April 30, 2022 3,987 $ 9.94 $ 219,467 Vested and expected to vest as of April 30, 2022 4,398 $ 12.05 $ 232,832 As of April 30, 2022, unrecognized stock-based compensation cost related to outstanding unvested stock options that are expected to vest was $3.5 million, which is expected to be recognized over a weighted-average period of 1.3 years. RSUs and PSUs A summary of RSUs and PSUs activities for the three months ended April 30, 2022, was as follows: Number of Shares Weighted- Average Grant Date Fair Value (In thousands) Balance as of January 31, 2022 8,331 $ 50.10 RSUs and PSUs granted 2,258 60.30 RSUs and PSUs vested (845) 44.51 RSUs and PSUs forfeited (556) 52.35 Balance as of April 30, 2022 9,188 $ 52.99 As of April 30, 2022, unrecognized stock-based compensation cost related to outstanding unvested RSUs that are expected to vest was $341.8 million, which is expected to be recognized over a weighted-average period of 3.3 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 April 30, 2022, unrecognized stock-based compensation cost related to outstanding unvested PSUs that are expected to vest was $12.5 million, which is expected to be recognized over a weighted-average period of 1.8 years. Stock-Based Compensation The stock-based compensation expense, net of estimated forfeitures, by line item in the accompanying condensed consolidated statements of comprehensive loss is summarized as follows: Three Months Ended April 30, 2022 2021 (In thousands) Cost of subscription revenue $ 2,000 $ 1,522 Cost of professional services revenue 1,347 831 Research and development 10,571 6,966 Sales and marketing 16,150 16,633 General and administrative 8,461 8,119 Total stock-based compensation expense $ 38,529 $ 34,071 The Company’s estimated forfeiture rate is based on accumulated historical forfeiture data. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Apr. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Cash and cash equivalents included investments in money market funds of $180.7 million and $196.7 million at April 30, 2022 and January 31, 2022, respectively. The fair value of the money market funds was determined using quoted prices for identical investments in active markets, which are considered to be Level 1 inputs under the fair value measurements and disclosure guidance. Other than the money market funds, the Company did not hold any assets or liabilities that are measured at fair value on a recurring basis as of April 30, 2022, and January 31, 2022. There were no transfers into or out of Level 1, Level 2, or Level 3 during the three months ended April 30, 2022 and 2021. |
Revenue Recognition
Revenue Recognition | 3 Months Ended |
Apr. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | Revenue Recognition The Company derives revenue primarily from sales of subscription services and, to a lesser degree, from professional services. Revenue is recognized when a customer obtains access to the platform and receives the related professional services. The amount of revenue recognized reflects the consideration that the Company expects to be entitled to receive in exchange for these services. Disaggregation of Revenue The following table summarizes the revenue by region based on the shipping address of customers who have contracted to use the Company’s cloud-based application: Three Months Ended April 30, 2022 2021 Amount Percentage Amount Percentage (In thousands, except percentage data) Americas $ 94,122 56 % $ 71,254 55 % EMEA 54,855 32 43,658 34 APAC 20,182 12 14,913 11 Total $ 169,159 100 % $ 129,825 100 % The United States and the U.K. were the only two countries that represented more than 10% of the Company’s total revenue in any period. Revenue in the United States and as a percentage of total revenue comprised of $89.7 million and 53%, and $68.0 million and 52% in the three months ended April 30, 2022 and 2021, respectively. Revenue in the U.K. comprised of $19.9 million and 12%, and $15.7 million and 12% in the three months ended April 30, 2022 and 2021, 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, which were included within prepaid expenses and other current assets and other noncurrent assets on the condensed consolidated balance sheets, were $0.2 million as of January 31, 2022. Total contract assets were immaterial as of April 30, 2022. Contract liabilities consist of deferred revenue. Revenue is deferred when the Company has the right to invoice in advance of performance under a contract. The current portion of deferred revenue balances are recognized over the following 12-month period. The amount of revenue recognized in the three months ended April 30, 2022 and 2021 that was included in deferred revenue at the beginning of each period was $140.2 million and $107.3 million, respectively. Remaining Performance Obligations As of April 30, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations was $1,111.5 million, which consists of both billed consideration in the amount of $354.3 million and unbilled consideration in the amount of $757.2 million that the Company expects to recognize as revenue in the future periods. The Company expects to cumulatively recognize approximately 51% and 81% of this amount as revenue in the next 12 months and 24 months, respectively, with the remaining balance recognized thereafter. 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 in the future periods. The Company expects to recognize 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. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Apr. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies On August 24, 2020, a purported stockholder of the Company filed a putative securities class action complaint in the United States District Court for the Northern District of California, captioned Grobler v. Anaplan, Inc., et al., 3:20-cv-05959, against the Company and certain of the Company’s executive officers. The Court appointed a lead plaintiff on November 12, 2020, and on January 6, 2021, the lead plaintiff filed an amended complaint, captioned Sakkal v. Anaplan, Inc., et al. The amended complaint 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. |
Income Taxes
Income Taxes | 3 Months Ended |
Apr. 30, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income TaxesThe Company computed its interim provision using its estimated annual effective tax rate. The Company’s income tax expense was $0.3 million and $1.3 million during the three months ended April 30, 2022 and 2021, respectively. |
Net Loss Per Share Attributable
Net Loss Per Share Attributable to Common Stockholders | 3 Months Ended |
Apr. 30, 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: Three Months Ended 2022 2021 (In thousands, except per share data) Numerator: Net loss $ (57,860) $ (51,491) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 149,877 144,161 Net loss per share attributable to common stockholders, basic and diluted $ (0.39) $ (0.36) The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows: As of April 30, 2022 2021 (In thousands) Stock options 4,425 6,236 RSUs and PSUs 9,188 9,789 Total 13,613 16,025 |
Summary of Business and Signi_2
Summary of Business and Significant Accounting Policies (Policies) | 3 Months Ended |
Apr. 30, 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 2023, for example, refer to the fiscal year ending January 31, 2023. |
Basis of Presentation | Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting and include the accounts of the Company and its wholly owned subsidiaries (collectively, the Company). All significant intercompany balances and transactions have been eliminated in consolidation. The unaudited condensed consolidated balance sheet as of January 31, 2022, included herein was derived from the audited financial statements as of that date, but does not include all disclosures including certain notes required by U.S. GAAP on an annual reporting basis. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of comprehensive loss, statements of stockholders’ equity, and statements of cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year or any future period. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Form 10-K filed with the SEC on March 23, 2022. |
Use of Estimates | Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Such estimates include, but are not limited to, the determination of revenue recognition, certain assumptions in the valuation of stock awards, the determination of the period of benefit for deferred commissions, the determination of the incremental borrowing rate used for operating lease liabilities, and the allowance for credit losses. Actual results could differ from those estimates. As of the date of filing of these unaudited condensed consolidated financial statements, the Company is not aware of any specific event or circumstance that would require updating significant estimates or judgments or revising the carrying value of the Company's assets or liabilities as presented in the unaudited interim condensed consolidated financial statements. These estimates may change as new events occur and additional information is obtained. Actual results could differ from those estimates and any such differences may be material to our financial statements. |
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, presented within other noncurrent assets on the accompanying condensed consolidated balance sheet, was $2.9 million as of April 30, 2022. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In October 2021, the Financial Accounting Standards Board issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which amends the accounting related to contract assets and liabilities acquired in business combinations. Under current GAAP, an entity generally recognizes assets and liabilities acquired in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers, at fair value on the acquisition date. ASU 2021-08 requires that entities recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASC Topic 606, Revenue from Contracts with Customers. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, and should be applied prospectively to businesses combinations occurring on or after the effective date of the amendment. Early adoption is permitted, including adoption in an interim period. We are currently evaluating the timing and overall impact of this standard on our condensed consolidated financial statements. |
Consolidated Balance Sheet Co_2
Consolidated Balance Sheet Components (Tables) | 3 Months Ended |
Apr. 30, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Property and Equipment, Net | Property and equipment consisted of the following: As of April 30, 2022 January 31, 2022 (In thousands) Computer and office equipment $ 77,870 $ 74,031 Leasehold improvements 18,393 16,834 Internal-use software 50,381 50,680 Construction in progress 17,334 17,015 Property and equipment, gross 163,978 158,560 Less: accumulated depreciation (100,720) (95,441) Property and equipment, net $ 63,258 $ 63,119 |
Schedule of Accrued Expenses | Accrued expenses consisted of the following: As of April 30, 2022 January 31, 2022 (In thousands) Vendor accruals $ 21,441 $ 14,781 Accrued commission 12,222 21,938 Accrued bonuses 8,309 14,616 Accrued other payroll liabilities 34,202 35,841 Current portion of finance lease obligations 7,727 7,386 Accrued other 29,525 29,329 Accrued expenses $ 113,426 $ 123,891 |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Apr. 30, 2022 | |
Leases [Abstract] | |
Components of Lease Expense, Supplemental Balance Sheet Information, Lease Term and Discount Rate | The components of lease expense were as follows: Three Months Ended April 30, 2022 2021 (In thousands) Operating lease costs $ 2,495 $ 2,434 Finance lease costs Amortization of assets $ 2,178 $ 2,570 Interest on lease liabilities 99 145 Total finance lease costs $ 2,277 $ 2,715 Supplemental balance sheet information related to leases is as follows: As of April 30, 2022 January 31, 2022 (In thousands) Operating leases: Operating lease ROU assets $ 28,736 $ 31,287 Operating lease liabilities, current portion $ 10,081 $ 10,400 Operating lease liabilities, net of current portion 23,628 26,046 Total operating lease liabilities $ 33,709 $ 36,446 Finance leases: Property and equipment, gross $ 42,973 $ 39,499 Less: accumulated depreciation (27,756) (25,653) Property and equipment, net $ 15,217 $ 13,846 Accrued expenses $ 7,727 $ 7,386 Other noncurrent liabilities 7,836 6,923 Total finance lease liabilities $ 15,563 $ 14,309 Weighted-average lease terms and discount rates are as follows: As of April 30, 2022 Operating Leases Finance Leases Weighted-average remaining lease terms 3.8 years 2.2 years Weighted-average discount rates 5.3% 3.3% |
Future Minimum Operating Lease Payments | Future minimum lease payments under operating leases and finance leases as of April 30, 2022, are as follows: As of April 30, 2022 Operating Leases Finance Leases (In thousands) Years ending January 31, 2023 (remaining 9 months) $ 8,474 $ 6,594 2024 9,653 6,172 2025 8,157 3,267 2026 7,743 331 2027 1,493 — Thereafter 972 — Total lease payments 36,492 16,364 Less: amount representing interest (2,345) (801) Less: leases less than 12 months (438) — Total lease liabilities $ 33,709 $ 15,563 |
Future Minimum Finance Lease Payments | Future minimum lease payments under operating leases and finance leases as of April 30, 2022, are as follows: As of April 30, 2022 Operating Leases Finance Leases (In thousands) Years ending January 31, 2023 (remaining 9 months) $ 8,474 $ 6,594 2024 9,653 6,172 2025 8,157 3,267 2026 7,743 331 2027 1,493 — Thereafter 972 — Total lease payments 36,492 16,364 Less: amount representing interest (2,345) (801) Less: leases less than 12 months (438) — Total lease liabilities $ 33,709 $ 15,563 |
Acquisition-Related Intangibl_2
Acquisition-Related Intangible Assets (Tables) | 3 Months Ended |
Apr. 30, 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 April 30, 2022 January 31, 2022 (In thousands) Developed technology $ 5,200 $ 5,200 Customer relationships 2,976 2,976 Intangible assets, gross $ 8,176 $ 8,176 Less: accumulated amortization (4,338) (4,003) Intangible assets, net $ 3,838 $ 4,173 |
Summary of Expected Future Intangible Assets Amortization | The expected future intangible assets amortization as of April 30, 2022 is as follows: As of April 30, 2022 (In thousands) Years ending January 31, 2023 (remaining 9 months) $ 1,005 2024 1,340 2025 993 2026 300 2027 200 Total future intangible assets amortization $ 3,838 |
Employee Stock Plans (Tables)
Employee Stock Plans (Tables) | 3 Months Ended |
Apr. 30, 2022 | |
Retirement Benefits [Abstract] | |
Schedule of Shares Reserved for Future Issuance | As of April 30, 2022 and 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 April 30, 2022 January 31, 2022 (In thousands) Outstanding stock options 4,425 4,987 Outstanding restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”) 9,188 8,331 Shares available for future issuances under the 2018 Stock Plan 31,234 25,469 Shares available for future issuances under the 2018 ESPP 6,166 4,675 Total 51,013 43,462 |
Summary of Stock Option Activity | A summary of stock option activity for the three months ended April 30, 2022, was as follows: Number of Shares Weighted Average Exercise Price Aggregate Intrinsic Value (In thousands) (In thousands) Balance as of January 31, 2022 4,987 $ 11.79 $ 182,453 Options exercised (549) 7.57 — Options forfeited (13) 51.75 — Balance as of April 30, 2022 4,425 $ 12.20 $ 233,598 Exercisable as of April 30, 2022 3,987 $ 9.94 $ 219,467 Vested and expected to vest as of April 30, 2022 4,398 $ 12.05 $ 232,832 |
Summary of RSU Activity | A summary of RSUs and PSUs activities for the three months ended April 30, 2022, was as follows: Number of Shares Weighted- Average Grant Date Fair Value (In thousands) Balance as of January 31, 2022 8,331 $ 50.10 RSUs and PSUs granted 2,258 60.30 RSUs and PSUs vested (845) 44.51 RSUs and PSUs forfeited (556) 52.35 Balance as of April 30, 2022 9,188 $ 52.99 |
Summary of Stock-Based Compensation Expense, Net of Estimated Forfeitures | The stock-based compensation expense, net of estimated forfeitures, by line item in the accompanying condensed consolidated statements of comprehensive loss is summarized as follows: Three Months Ended April 30, 2022 2021 (In thousands) Cost of subscription revenue $ 2,000 $ 1,522 Cost of professional services revenue 1,347 831 Research and development 10,571 6,966 Sales and marketing 16,150 16,633 General and administrative 8,461 8,119 Total stock-based compensation expense $ 38,529 $ 34,071 |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 3 Months Ended |
Apr. 30, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | The following table summarizes the revenue by region based on the shipping address of customers who have contracted to use the Company’s cloud-based application: Three Months Ended April 30, 2022 2021 Amount Percentage Amount Percentage (In thousands, except percentage data) Americas $ 94,122 56 % $ 71,254 55 % EMEA 54,855 32 43,658 34 APAC 20,182 12 14,913 11 Total $ 169,159 100 % $ 129,825 100 % |
Net Loss Per Share Attributab_2
Net Loss Per Share Attributable to Common Stockholders (Tables) | 3 Months Ended |
Apr. 30, 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: Three Months Ended 2022 2021 (In thousands, except per share data) Numerator: Net loss $ (57,860) $ (51,491) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 149,877 144,161 Net loss per share attributable to common stockholders, basic and diluted $ (0.39) $ (0.36) |
Summary of Potential Shares of Common Stock that were Excluded from the Computation of Diluted Net Loss Per Share | The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows: As of April 30, 2022 2021 (In thousands) Stock options 4,425 6,236 RSUs and PSUs 9,188 9,789 Total 13,613 16,025 |
Summary of Business and Signi_3
Summary of Business and Significant Accounting Policies - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Mar. 20, 2022 | Apr. 30, 2022 | Jan. 31, 2022 |
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Restricted cash included in other noncurrent assets | $ 2,897 | $ 0 | |
Anaplan, Inc. | Alpine Parent, LLC | |||
Nature Of Business And Summary Of Significant Accounting Policies [Line Items] | |||
Total purchase consideration | $ 10,700,000 | ||
Right to receive cash (in dollars per share) | $ 66 | ||
Termination fee payable to Parent | $ 293,100 | ||
Termination fee receivable from parent | $ 586,200 |
Consolidated Balance Sheet Co_3
Consolidated Balance Sheet Components - Schedule of Property and Equipment Net (Detail) - USD ($) $ in Thousands | Apr. 30, 2022 | Jan. 31, 2022 |
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | $ 163,978 | $ 158,560 |
Less: accumulated depreciation | (100,720) | (95,441) |
Property and equipment, net | 63,258 | 63,119 |
Computer and office equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | 77,870 | 74,031 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | 18,393 | 16,834 |
Internal-use software | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | 50,381 | 50,680 |
Construction in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant, and equipment, gross | $ 17,334 | $ 17,015 |
Consolidated Balance Sheet Co_4
Consolidated Balance Sheet Components - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Jan. 31, 2022 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation expense | $ 6,800 | $ 6,600 | |
Capitalized computer internal-use software | 5,100 | 4,200 | |
Share based compensation expense | 38,529 | 34,071 | |
Amortization of capitalized internal-use software, included in total depreciation expense | $ 2,800 | 2,600 | |
Preferred stock, shares authorized (in shares) | 25,000,000 | 25,000,000 | |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 | |
Preferred stock, shares issued (in shares) | 0 | 0 | |
Preferred stock, shares outstanding (in shares) | 0 | 0 | |
Internal-use software | |||
Property, Plant and Equipment [Line Items] | |||
Share based compensation expense | $ 1,500 | $ 1,100 |
Consolidated Balance Sheet Co_5
Consolidated Balance Sheet Components - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands | Apr. 30, 2022 | Jan. 31, 2022 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Vendor accruals | $ 21,441 | $ 14,781 |
Accrued commission | 12,222 | 21,938 |
Accrued bonuses | 8,309 | 14,616 |
Accrued other payroll liabilities | 34,202 | 35,841 |
Current portion of finance lease obligations | 7,727 | 7,386 |
Accrued other | 29,525 | 29,329 |
Accrued expenses | $ 113,426 | $ 123,891 |
Bank Borrowing - Additional Inf
Bank Borrowing - Additional Information (Detail) - Third Amendment - Wells Fargo - Revolving credit facility - USD ($) | 1 Months Ended | ||
Apr. 30, 2020 | Apr. 30, 2022 | Jan. 31, 2022 | |
Debt Instrument [Line Items] | |||
Increase in aggregate revolving credit commitment | $ 20,000,000 | ||
Credit facility maximum borrowing capacity | $ 60,000,000 | ||
Outstanding amount | $ 0 | $ 0 | |
Fed funds effective rate overnight index swap rate | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 0.50% | ||
One-month LIBOR | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 1.00% |
Leases - Components of Lease Ex
Leases - Components of Lease Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
Leases [Abstract] | ||
Operating lease costs | $ 2,495 | $ 2,434 |
Finance lease costs | ||
Amortization of assets | 2,178 | 2,570 |
Interest on lease liabilities | 99 | 145 |
Total finance lease costs | $ 2,277 | $ 2,715 |
Leases - Schedule of Supplement
Leases - Schedule of Supplemental Balance Sheet Information Related To Leases (Detail) - USD ($) $ in Thousands | Apr. 30, 2022 | Jan. 31, 2022 |
Operating leases: | ||
Operating lease ROU assets | $ 28,736 | $ 31,287 |
Operating lease liabilities, current portion | 10,081 | 10,400 |
Operating lease liabilities, net of current portion | 23,628 | 26,046 |
Total operating lease liabilities | $ 33,709 | $ 36,446 |
Finance leases: | ||
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] | Accrued expenses | Accrued expenses |
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] | Other noncurrent liabilities | Other noncurrent liabilities |
Property and equipment, gross | $ 42,973 | $ 39,499 |
Less: accumulated depreciation | (27,756) | (25,653) |
Property and equipment, net | 15,217 | 13,846 |
Accrued expenses | 7,727 | 7,386 |
Other noncurrent liabilities | 7,836 | 6,923 |
Total finance lease liabilities | $ 15,563 | $ 14,309 |
Leases - Weighted-Average Lease
Leases - Weighted-Average Lease Term and Discount Rate (Detail) | Apr. 30, 2022 |
Weighted-average remaining lease terms | |
Operating Leases | 3 years 9 months 18 days |
Finance Leases | 2 years 2 months 12 days |
Weighted-average discount rates | |
Operating Leases | 5.30% |
Finance Leases | 3.30% |
Leases - Schedule of Future Min
Leases - Schedule of Future Minimum Lease Payments Under Operating Leases and Finance Leases (Detail) - USD ($) $ in Thousands | Apr. 30, 2022 | Jan. 31, 2022 |
Operating Leases, Years ending January 31, | ||
2023 (remaining 9 months) | $ 8,474 | |
2024 | 9,653 | |
2025 | 8,157 | |
2026 | 7,743 | |
2027 | 1,493 | |
Thereafter | 972 | |
Total lease payments | 36,492 | |
Less: amount representing interest | (2,345) | |
Less: leases less than 12 months | (438) | |
Total lease liabilities | 33,709 | $ 36,446 |
Finance Leases, Years ending January 31, | ||
2023 (remaining 9 months) | 6,594 | |
2024 | 6,172 | |
2025 | 3,267 | |
2026 | 331 | |
2027 | 0 | |
Thereafter | 0 | |
Total lease payments | 16,364 | |
Less: amount representing interest | (801) | |
Less: leases less than 12 months | 0 | |
Total lease liabilities | $ 15,563 | $ 14,309 |
Leases - Additional Information
Leases - Additional Information (Detail) - Computer and office equipment $ in Millions | Apr. 30, 2022USD ($) |
Lease liabilities | $ 19 |
Lease payment term | 3 years |
Acquisition-Related Intangibl_3
Acquisition-Related Intangible Assets - Components of Identifiable Intangible Assets Included In Other Noncurrent Assets (Detail) - USD ($) $ in Thousands | Apr. 30, 2022 | Jan. 31, 2022 |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 8,176 | $ 8,176 |
Less: accumulated amortization | (4,338) | (4,003) |
Intangible assets, net | 3,838 | 4,173 |
Developed technology | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | 5,200 | 5,200 |
Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 2,976 | $ 2,976 |
Acquisition-Related Intangibl_4
Acquisition-Related Intangible Assets - Summary of Expected Future Intangible Assets Amortization (Detail) - USD ($) $ in Thousands | Apr. 30, 2022 | Jan. 31, 2022 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ||
2023 (remaining 9 months) | $ 1,005 | |
2024 | 1,340 | |
2025 | 993 | |
2026 | 300 | |
2027 | 200 | |
Intangible assets, net | $ 3,838 | $ 4,173 |
Employee Stock Plans - Addition
Employee Stock Plans - Additional Information (Detail) $ in Millions | 3 Months Ended | 12 Months Ended |
Apr. 30, 2022USD ($)shares | Jan. 31, 2022awardshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Common stock, shares authorized (in shares) | shares | 1,750,000,000 | 1,750,000,000 |
Stock options | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unrecognized stock-based compensation | $ 3.5 | |
Unrecognized stock based compensation, weighted-average period | 1 year 3 months 18 days | |
Restricted stock units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unrecognized stock based compensation, weighted-average period | 3 years 3 months 18 days | |
Unrecognized stock-based compensation cost related to outstanding unvested RSUs expected to vest | $ 341.8 | |
Performance stock units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unrecognized stock based compensation, weighted-average period | 1 year 9 months 18 days | |
Number of units | award | 2 | |
Cost of nonvested award not yet recognized | $ 12.5 | |
Performance stock units | Tranche one | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Requisite service period | 1 year | |
Performance stock units | Tranche two | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Requisite service period | 2 years | |
Performance stock units | Tranche three | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Requisite service period | 3 years | |
Performance stock units | Minimum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Amount granted | 0 | |
Performance stock units | Maximum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Amount granted | 2 |
Employee Stock Plans - Schedule
Employee Stock Plans - Schedule of Shares Reserved for Future Issuance (Detail) - shares shares in Thousands | Apr. 30, 2022 | Jan. 31, 2022 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance | 51,013 | 43,462 |
Stock options | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance | 4,425 | 4,987 |
RSUs and PSUs | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance | 9,188 | 8,331 |
2018 Stock Plan | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance | 31,234 | 25,469 |
2018 ESPP | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares reserved for future issuance | 6,166 | 4,675 |
Employee Stock Plans - Summary
Employee Stock Plans - Summary of Stock Option Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended |
Apr. 30, 2022USD ($)$ / sharesshares | |
Number of Shares | |
Beginning balance (in shares) | shares | 4,987 |
Exercised (in shares) | shares | (549) |
Forfeited (in shares) | shares | (13) |
Ending balance (in shares) | shares | 4,425 |
Exercisable (in shares) | shares | 3,987 |
Vested and expected to vest (in shares) | shares | 4,398 |
Weighted Average Exercise Price | |
Beginning balance (in dollars per share) | $ / shares | $ 11.79 |
Exercised (in dollars per share) | $ / shares | 7.57 |
Forfeited (in dollars per share) | $ / shares | 51.75 |
Ending balance (in dollars per share) | $ / shares | 12.20 |
Exercisable (in dollars per share) | $ / shares | 9.94 |
Vested and expected to vest (in dollars per share) | $ / shares | $ 12.05 |
Aggregate Intrinsic Value | |
Beginning balance | $ | $ 182,453 |
Ending balance | $ | 233,598 |
Exercisable | $ | 219,467 |
Vested and expected to vest | $ | $ 232,832 |
Employee Stock Plans - Summar_2
Employee Stock Plans - Summary of RSU Activity (Detail) - RSUs and PSUs shares in Thousands | 3 Months Ended |
Apr. 30, 2022$ / sharesshares | |
Number of Shares | |
Beginning balance (in shares) | shares | 8,331 |
Granted (in shares) | shares | 2,258 |
Vested (in shares) | shares | (845) |
Forfeited (in shares) | shares | (556) |
Ending balance (in shares) | shares | 9,188 |
Weighted- Average Grant Date Fair Value | |
Beginning balance (in dollars per share) | $ / shares | $ 50.10 |
Granted (in dollars per share) | $ / shares | 60.30 |
Vested (in dollars per share) | $ / shares | 44.51 |
Forfeited (in dollars per share) | $ / shares | 52.35 |
Ending balance (in dollars per share) | $ / shares | $ 52.99 |
Employee Stock Plans - Summar_3
Employee Stock Plans - Summary of Stock-Based Compensation Expense, Net of Estimated Forfeitures (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation expense | $ 38,529 | $ 34,071 |
Subscription revenue | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation expense | 2,000 | 1,522 |
Professional services revenue | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation expense | 1,347 | 831 |
Research and development | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation expense | 10,571 | 6,966 |
Sales and marketing | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation expense | 16,150 | 16,633 |
General and administrative | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Stock-based compensation expense | $ 8,461 | $ 8,119 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 |
Recurring | Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets measured at fair value | $ 180.7 | $ 196.7 |
Revenue Recognition - Disaggreg
Revenue Recognition - Disaggregation of Revenue (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 169,159 | $ 129,825 |
Revenue Benchmark | Geographic Concentration Risk | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 169,159 | $ 129,825 |
Percentage of Revenue | 100.00% | 100.00% |
Revenue Benchmark | Geographic Concentration Risk | Americas | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 94,122 | $ 71,254 |
Percentage of Revenue | 56.00% | 55.00% |
Revenue Benchmark | Geographic Concentration Risk | EMEA | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 54,855 | $ 43,658 |
Percentage of Revenue | 32.00% | 34.00% |
Revenue Benchmark | Geographic Concentration Risk | APAC | ||
Disaggregation of Revenue [Line Items] | ||
Total revenue | $ 20,182 | $ 14,913 |
Percentage of Revenue | 12.00% | 11.00% |
Revenue Recognition - Additiona
Revenue Recognition - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Apr. 30, 2022 | Apr. 30, 2021 | Jan. 31, 2022 | |
Total revenue | $ 169,159 | $ 129,825 | |
Contract assets | 0 | $ 200 | |
Deferred revenue recognized | 140,200 | 107,300 | |
Revenue Benchmark | Geographic Concentration Risk | |||
Total revenue | $ 169,159 | $ 129,825 | |
Percentage of Revenue | 100.00% | 100.00% | |
United States | Revenue Benchmark | Geographic Concentration Risk | |||
Total revenue | $ 89,700 | $ 68,000 | |
Percentage of Revenue | 53.00% | 52.00% | |
United Kingdom | Revenue Benchmark | Geographic Concentration Risk | |||
Total revenue | $ 19,900 | $ 15,700 | |
Percentage of Revenue | 12.00% | 12.00% |
Revenue Recognition - Performan
Revenue Recognition - Performance Obligation (Detail) - USD ($) $ in Millions | Apr. 30, 2022 | Jan. 31, 2022 |
Remaining performance obligation | $ 1,111.5 | $ 1,092.5 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-02-01 | Period one | ||
Remaining performance obligation percentage | 50.00% | |
Remaining performance obligation, expected recognition period | 12 months | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-02-01 | Period two | ||
Remaining performance obligation percentage | 82.00% | |
Remaining performance obligation, expected recognition period | 24 months | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-05-01 | Period one | ||
Remaining performance obligation percentage | 51.00% | |
Remaining performance obligation, expected recognition period | 12 months | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-05-01 | Period two | ||
Remaining performance obligation percentage | 81.00% | |
Remaining performance obligation, expected recognition period | 24 months | |
Billed revenues | ||
Remaining performance obligation | $ 354.3 | $ 382.2 |
Unbilled revenues | ||
Remaining performance obligation | $ 757.2 | $ 710.3 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
Income Tax Disclosure [Abstract] | ||
Income tax expenses | $ 283 | $ 1,258 |
Net Loss Per Share Attributab_3
Net Loss Per Share Attributable to Common Stockholders - Schedule of Computation of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
Numerator: | ||
Net loss | $ (57,860) | $ (51,491) |
Denominator: | ||
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) | 149,877 | 144,161 |
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) | 149,877 | 144,161 |
Net loss per share attributable to common stockholders, basic (in dollars per share) | $ (0.39) | $ (0.36) |
Net loss per share attributable to common stockholders, diluted (in dollars per share) | $ (0.39) | $ (0.36) |
Net Loss Per Share Attributab_4
Net Loss Per Share Attributable to Common Stockholders - Summary of Potential Shares of Common Stock That Were Excluded From the Computation of Diluted Net Loss Per Share Attributable to Common Stockholders (Detail) - shares shares in Thousands | 3 Months Ended | |
Apr. 30, 2022 | Apr. 30, 2021 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities that were not included in the diluted per share calculation (in shares) | 13,613 | 16,025 |
Stock options | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities that were not included in the diluted per share calculation (in shares) | 4,425 | 6,236 |
RSUs and PSUs | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities that were not included in the diluted per share calculation (in shares) | 9,188 | 9,789 |