Cover Page
Cover Page - USD ($) $ in Billions | 12 Months Ended | ||
Jan. 31, 2020 | Mar. 17, 2020 | Jul. 31, 2019 | |
Cover page. | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Jan. 31, 2020 | ||
Document Transition Report | false | ||
Entity File Number | 001-38856 | ||
Entity Registrant Name | PAGERDUTY, INC. | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 27-2793871 | ||
Entity Address, Address Line One | 600 Townsend St. | ||
Entity Address, Address Line Two | Suite 200 | ||
Entity Address, City or Town | San Francisco | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 94103 | ||
City Area Code | 844 | ||
Local Phone Number | 800-3889 | ||
Title of 12(b) Security | Common Stock, $0.000005 par value | ||
Trading Symbol | PD | ||
Security Exchange Name | NYSE | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | true | ||
Entity Ex Transition Period | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 1.6 | ||
Entity Common Stock, Shares Outstanding | 77,821,401 | ||
Documents Incorporated by Reference | Information required in response to Part III of Form 10-K (Items 10, 11, 12, 13 and 14) is hereby incorporated by reference to portions of the Registrant’s Proxy Statement for the Annual Meeting of Stockholders to be held in 2020. The Proxy Statement will be filed by the Registrant with the Securities and Exchange Commission no later than 120 days after the end of the Registrant’s fiscal year ended January 31, 2020 . | ||
Entity Central Index Key | 0001568100 | ||
Current Fiscal Year End Date | --01-31 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 124,024 | $ 127,875 |
Accounts receivable, net of allowance for doubtful accounts of $810 and $2,360 as of January 31, 2020 and January 31, 2019, respectively | 37,128 | 33,538 |
Investments | 227,375 | 0 |
Deferred contract costs, current | 9,301 | 6,002 |
Prepaid expenses and other current assets | 7,163 | 5,422 |
Total current assets | 404,991 | 172,837 |
Property and equipment, net | 12,369 | 5,772 |
Deferred contract costs, non-current | 16,387 | 11,470 |
Other assets | 1,651 | 7,155 |
Total assets | 435,398 | 197,234 |
Current liabilities: | ||
Accounts payable | 6,434 | 7,657 |
Accrued expenses and other current liabilities | 7,197 | 7,145 |
Accrued compensation | 13,911 | 10,050 |
Deferred revenue, current | 87,490 | 63,957 |
Total current liabilities | 115,032 | 88,809 |
Deferred revenue, non-current | 5,079 | 147 |
Other liabilities | 7,349 | 4,185 |
Total liabilities | 127,460 | 93,141 |
Commitments and contingencies (Note 5) | ||
Redeemable convertible preferred stock, $0.000005 par value per share: 100,000,000 and 41,810,231 shares authorized, as of January 31, 2020 and 2019; no shares issued and outstanding as of January 31, 2020; 41,273,345 shares issued and outstanding as of January 31, 2019; liquidation preference of $203,861 as of January 31, 2019 | 0 | 173,023 |
Stockholders’ equity (deficit): | ||
Common stock, $0.000005 par value per share: 1,000,000,000 and 85,000,000 shares authorized as of January 31, 2020 and 2019, respectively; 77,793,540 and 23,189,921 shares issued and outstanding as of January 31, 2020 and 2019, respectively | 0 | 0 |
Additional paid-in capital | 487,008 | 59,938 |
Accumulated other comprehensive income | 137 | 0 |
Accumulated deficit | (179,207) | (128,868) |
Total stockholders’ equity (deficit) | 307,938 | (68,930) |
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit) | $ 435,398 | $ 197,234 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 810 | $ 2,360 |
Redeemable convertible preferred stock, par value per share (in dollars per share) | $ 0.000005 | $ 0.000005 |
Redeemable convertible preferred stock, shares authorized (in shares) | 100,000,000 | 41,810,231 |
Redeemable convertible preferred stock, shares issued (in shares) | 0 | 41,273,345 |
Redeemable convertible preferred stock, shares outstanding (in shares) | 0 | 41,273,345 |
Redeemable convertible preferred stock, liquidation preference | $ 203,861 | |
Common stock, par value per share (in dollars per share) | $ 0.000005 | $ 0.000005 |
Common stock, shares authorized (in shares) | 1,000,000,000 | 85,000,000 |
Common stock, shares issued (in shares) | 77,793,540 | 23,189,921 |
Common stock, shares outstanding (in shares) | 77,793,540 | 23,189,921 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Income Statement And Statement Of Comprehensive Income [Abstract] | |||
Revenue | $ 166,351 | $ 117,823 | $ 79,630 |
Cost of revenue | 24,579 | 17,255 | 12,717 |
Gross profit | 141,772 | 100,568 | 66,913 |
Operating expenses: | |||
Research and development | 49,011 | 38,858 | 33,532 |
Sales and marketing | 97,350 | 64,060 | 47,354 |
General and administrative | 50,970 | 39,971 | 24,343 |
Total operating expenses | 197,331 | 142,889 | 105,229 |
Loss from operations | (55,559) | (42,321) | (38,316) |
Interest income | 5,692 | 1,249 | 371 |
Interest expense | 0 | 0 | (702) |
Other income, net | 203 | 1,032 | 682 |
Loss before provision for income taxes | (49,664) | (40,040) | (37,965) |
Provision for income taxes | (675) | (701) | (184) |
Net loss | (50,339) | (40,741) | (38,149) |
Other comprehensive gain: | |||
Unrealized gain on investments | 137 | 0 | 0 |
Total comprehensive loss | $ (50,202) | $ (40,741) | $ (38,149) |
Net loss per share, basic and diluted (in dollars per share) | $ (0.77) | $ (1.90) | $ (1.91) |
Weighted average shares used in calculating net loss per share, basic and diluted (in shares) | 65,544 | 21,410 | 19,986 |
Consolidated Statements of Rede
Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands | Total | Series C Redeemable Convertible Preferred Stock | Series D Redeemable Convertible Preferred Stock | Common stock | Additional Paid-in Capital | Accumulated Other Comprehensive Loss | Accumulated Deficit |
Redeemable convertible preferred stock, beginning balance (in shares) at Jan. 31, 2017 | 31,815,528 | ||||||
Redeemable convertible preferred stock, beginning balance at Jan. 31, 2017 | $ 39,556 | ||||||
Redeemable Convertible Preferred Stock | |||||||
Issuance of redeemable convertible preferred stock, net of issuance costs (in shares) | 4,185,006 | ||||||
Issuance of redeemable convertible preferred stock, net of issuance costs | $ 43,648 | ||||||
Redeemable convertible preferred stock, ending balance (in shares) at Jan. 31, 2018 | 36,000,534 | ||||||
Redeemable convertible preferred stock, ending balance at Jan. 31, 2018 | $ 83,204 | ||||||
Beginning balance (in shares) at Jan. 31, 2017 | 20,260,180 | ||||||
Beginning balance at Jan. 31, 2017 | (38,550) | $ 0 | $ 11,428 | $ 0 | $ (49,978) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Issuance of common stock upon exercise of stock options and restricted stock agreements, net of repurchases (in shares) | 1,419,650 | ||||||
Issuance of common stock upon exercise of stock options and restricted stock agreements, net of repurchases | 1,158 | 1,158 | |||||
Exercise of common stock warrants (in shares) | 25,522 | ||||||
Exercise of common stock warrants | 119 | 119 | |||||
Warrant issued in conjunction with debt/charitable contribution | 694 | 694 | |||||
Vesting of early exercised options | 211 | 211 | |||||
Stock-based compensation | 18,152 | 18,152 | |||||
Net loss | (38,149) | (38,149) | |||||
Ending balance (in shares) at Jan. 31, 2018 | 21,705,352 | ||||||
Ending balance at Jan. 31, 2018 | $ (56,365) | $ 0 | 31,762 | 0 | (88,127) | ||
Redeemable Convertible Preferred Stock | |||||||
Issuance of redeemable convertible preferred stock, net of issuance costs (in shares) | 5,272,811 | ||||||
Issuance of redeemable convertible preferred stock, net of issuance costs | $ 89,819 | ||||||
Redeemable convertible preferred stock, ending balance (in shares) at Jan. 31, 2019 | 41,273,345 | ||||||
Redeemable convertible preferred stock, ending balance at Jan. 31, 2019 | $ 173,023 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Issuance of common stock upon exercise of stock options and restricted stock agreements, net of repurchases (in shares) | 1,382,664 | ||||||
Issuance of common stock upon exercise of stock options and restricted stock agreements, net of repurchases | 1,525 | 1,525 | |||||
Exercise of common stock warrants (in shares) | 101,905 | ||||||
Exercise of common stock warrants | 473 | 473 | |||||
Warrant issued in conjunction with debt/charitable contribution | 6,217 | 6,217 | |||||
Vesting of early exercised options | 883 | 883 | |||||
Stock-based compensation | 19,078 | 19,078 | |||||
Net loss | $ (40,741) | (40,741) | |||||
Ending balance (in shares) at Jan. 31, 2019 | 23,189,921 | 23,189,921 | |||||
Ending balance at Jan. 31, 2019 | $ (68,930) | $ 0 | 59,938 | 0 | (128,868) | ||
Redeemable Convertible Preferred Stock | |||||||
Conversion of convertible preferred stock to common stock in connection with initial public offering (in shares) | (41,273,345) | ||||||
Conversion of convertible preferred stock to common stock in connection with initial public offering | $ (173,023) | ||||||
Redeemable convertible preferred stock, ending balance (in shares) at Jan. 31, 2020 | 0 | ||||||
Redeemable convertible preferred stock, ending balance at Jan. 31, 2020 | $ 0 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Issuance of common stock upon exercise of stock options and restricted stock agreements, net of repurchases (in shares) | 2,519,899 | ||||||
Issuance of common stock upon exercise of stock options and restricted stock agreements, net of repurchases | 7,187 | 7,187 | |||||
Vesting of restricted stock units, net of shares withheld for employee payroll taxes (in shares) | 1,293 | ||||||
Vesting of restricted stock units, net of employee payroll taxes | (16) | (16) | |||||
Exercise of common stock warrants (in shares) | 737,807 | ||||||
Repayment of promissory note | 515 | 515 | |||||
Issuance of common stock in connection with initial public offering, net of underwriting discounts and issuance costs (in shares) | 9,860,500 | ||||||
Issuance of common stock in connection with initial public offering, net of underwriting discounts and issuance costs | 213,697 | 213,697 | |||||
Conversion of convertible preferred stock to common stock in connection with initial public offering (in shares) | 41,273,345 | ||||||
Conversion of convertible preferred stock to common stock in connection with initial public offering | $ 173,023 | 173,023 | |||||
Issuance of common stock in connection with the Employee Stock Purchase Program (in shares) | 210,775 | 210,775 | |||||
Issuance of common stock in connection with the Employee Stock Purchase Program | $ 4,117 | 4,117 | |||||
Vesting of early exercised options | 1,342 | 1,342 | |||||
Stock-based compensation | 27,205 | 27,205 | |||||
Other comprehensive gain | 137 | 137 | |||||
Net loss | $ (50,339) | (50,339) | |||||
Ending balance (in shares) at Jan. 31, 2020 | 77,793,540 | 77,793,540 | |||||
Ending balance at Jan. 31, 2020 | $ 307,938 | $ 0 | $ 487,008 | $ 137 | $ (179,207) |
Consolidated Statements of Re_2
Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | |
Statement of Stockholders' Equity [Abstract] | ||
Issuance costs | $ 181 | $ 154 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Cash flows from operating activities | |||
Net loss | $ (50,339,000) | $ (40,741,000) | $ (38,149,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation and amortization | 2,337,000 | 1,692,000 | 1,346,000 |
Amortization of deferred contract costs | 7,780,000 | 4,495,000 | 2,543,000 |
Stock-based compensation | 27,205,000 | 19,078,000 | 18,152,000 |
Warrant issued in conjunction with charitable contribution | 0 | 6,217,000 | 0 |
Amortization of debt issuance costs | 0 | 0 | 142,000 |
Loss on extinguishment of debt | 0 | 0 | 728,000 |
Other | (331,000) | 1,440,000 | 1,227,000 |
Changes in operating assets and liabilities: | |||
Accounts receivable | (3,601,000) | (15,464,000) | (10,145,000) |
Deferred contract costs | (15,996,000) | (13,809,000) | (5,725,000) |
Prepaid expenses and other assets | (2,112,000) | (2,914,000) | (1,913,000) |
Accounts payable | (1,110,000) | 1,356,000 | 2,501,000 |
Accrued expenses and other liabilities | 3,668,000 | 1,931,000 | (682,000) |
Accrued compensation | 3,861,000 | 5,176,000 | 2,943,000 |
Deferred revenue | 28,465,000 | 25,935,000 | 15,196,000 |
Net cash used in operating activities | (173,000) | (5,608,000) | (11,836,000) |
Cash flows from investing activities | |||
Purchases of property and equipment | (5,174,000) | (3,730,000) | (822,000) |
Capitalized internal-use software costs | 0 | (389,000) | 0 |
Purchases of held-to-maturity investments | (45,736,000) | 0 | 0 |
Proceeds from maturities of held-to-maturity investments | 17,950,000 | 0 | 0 |
Purchases of available-for-sale investments | (224,110,000) | 0 | 0 |
Proceeds from maturities of available-for-sale investments | 25,000,000 | 0 | 0 |
Net cash used in investing activities | (232,070,000) | (4,119,000) | (822,000) |
Cash flows from financing activities | |||
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs | 0 | 89,819,000 | 43,648,000 |
Proceeds from initial public offering, net of underwriters' discounts and commissions | 220,086,000 | 0 | 0 |
Payments of costs related to initial public offering | (5,945,000) | (445,000) | 0 |
Proceeds from repayment of promissory note | 515,000 | 0 | 0 |
Proceeds from borrowing of debt, net of issuance costs | 0 | 0 | 9,824,000 |
Repayments of debt | 0 | 0 | (10,000,000) |
Proceeds from issuance of common stock upon exercise of stock options | 7,187,000 | 1,525,000 | 1,158,000 |
Proceeds from Employee Stock Purchase Program | 4,117,000 | 0 | 0 |
Proceeds from early exercised stock options, net of repurchases | 0 | 2,227,000 | 680,000 |
Proceeds from issuance of common stock upon exercise of warrants | 0 | 473,000 | 119,000 |
Employee payroll taxes paid related to net share settlement of restricted stock units | (16,000) | 0 | 0 |
Net cash provided by financing activities | 225,944,000 | 93,599,000 | 45,429,000 |
Net (decrease) increase in cash, cash equivalents, and restricted cash | (6,299,000) | 83,872,000 | 32,771,000 |
Cash, cash equivalents, and restricted cash at beginning of period | 130,323,000 | 46,451,000 | 13,680,000 |
Cash, cash equivalents, and restricted cash at end of period | 124,024,000 | 130,323,000 | 46,451,000 |
Supplemental cash flow data: | |||
Cash paid for interest | 0 | 0 | 519,000 |
Cash paid for taxes | 73,000 | 45,000 | 15,000 |
Non-cash investing and financing activities: | |||
Vesting of early exercised options | 1,342,000 | 883,000 | 211,000 |
Issuance of warrants in connection with debt | 0 | 0 | 694,000 |
Purchase of property and equipment, accrued but not yet paid | 1,463,000 | 82,000 | 28,000 |
Costs related to initial public offering, accrued but not yet paid | 0 | 2,816,000 | 0 |
Non-cash additions of property and equipment | 2,212,000 | 0 | 0 |
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets | |||
Total cash, cash equivalents, and restricted cash | $ 124,024,000 | $ 46,451,000 | $ 13,680,000 |
Description of Business and Bas
Description of Business and Basis of Presentation | 12 Months Ended |
Jan. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business and Basis of Presentation | Description of Business and Basis of Presentation Description of Business PagerDuty, Inc. was incorporated under the laws of the state of Delaware in May 2010. PagerDuty acts as the central nervous system for the digital enterprise. PagerDuty harnesses digital signals from virtually any software-enabled system or device, combines it with human response data and orchestrates teams to take the right actions in real time. The Company’s products help organizations improve operations, accelerate innovation, increase revenue, mitigate security risk, and deliver a great customer experience. As used herein, “PagerDuty”, “we”, “our”, “the Company” and similar terms include PagerDuty, Inc., unless the context indicates otherwise. Initial Public Offering On April 15, 2019, the Company completed its initial public offering (IPO), pursuant to which the Company issued and sold 9,860,500 shares of common stock, inclusive of the over-allotment option, at a public offering price of $24.00 per share. The Company received net proceeds of $213.7 million , after deducting underwriters' discounts and commissions of $16.6 million and other issuance costs of $6.4 million . Immediately prior to the closing of the Company’s IPO, all shares of the redeemable convertible preferred stock automatically converted into 41,273,345 shares of common stock. Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and include the consolidated accounts of PagerDuty. All intercompany balances and transactions have been eliminated upon consolidation. The Company’s fiscal year ends on January 31. References to fiscal 2020 , for example, refer to the fiscal year ended January 31, 2020 . Reclassification Certain reclassifications of prior period amounts have been made in the Company’s consolidated balance sheets and consolidated statements of cash flows to conform to the current period presentation. The Company has reclassified a portion of prepaid expenses and other current assets to the accounts receivable, net line item on the accompanying consolidated balance sheets. The Company has also reclassified a portion of accrued expenses and other current liabilities to the accounts payable line item on the accompanying consolidated balance sheets. The Company reclassified the bad debt expense line item to the other line item on the accompanying consolidated statements of cash flows. These reclassifications had no effect on the reported results of operations. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make, on an ongoing basis, estimates and assumptions that affect the reported amounts of assets and liabilities, 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 periods. Actual results could differ from these estimates. The Company’s most significant estimates and judgments involve the valuation of the Company’s stock-based awards, including the determination of fair value of common stock (prior to the closing of the IPO) and the fair value of the employee stock purchase plan (ESPP) expense, period of benefit for amortizing deferred contract costs, the determination of the allowance for doubtful accounts, and the provision for income taxes, including the related valuation allowance and any uncertain tax positions, among others. Management bases its estimates on historical experience and on various other assumptions which management believes to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Stock Split In May 2018, the Company effected a two -for-one stock split of the Company’s redeemable convertible preferred stock and common stock effective May 3, 2018. All redeemable convertible preferred stock and common stock share and per-share amounts for the periods presented in these financial statements have been retroactively adjusted for the stock split as if such stock split occurred on the first day of the periods presented. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jan. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Segment Information The Company manages its operations and allocates resources as one operating segment. The Company’s chief operating decision maker (CODM) is its chief executive officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. See Note 10, “Geographic Information” for information regarding the Company's long-lived assets and revenue by geography. Revenue Recognition The Company generates revenue from subscription fees. Revenue is recognized when control of these services is transferred to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services. The Company accounts for revenue contracts with customers by applying the requirements of Topic 606, which includes the following steps: • Identification of the contract, or contracts, with a customer. • Identification of the performance obligations in the contract. • Determination of the transaction price. • Allocation of the transaction price to the performance obligations in the contract. • Recognition of revenue when, or as, the Company satisfies a performance obligation The Company’s subscriptions allow customers to use its cloud-hosted software over the contract period without taking possession of the software. The Company’s subscription agreements generally have monthly or annual contractual terms. Revenue is recognized ratably over the related contractual term beginning on the date that the Company’s platform is made available to a customer. Access to the platform represents a series of distinct services as the Company continually provides access to, and fulfills its obligation to, the end customer over the subscription term. The series of distinct services represents a single performance obligation that is satisfied over time. The Company recognizes revenue ratably because the customer receives and consumes the benefits of the platform throughout the contract period. The Company’s arrangements are generally non-cancellable and do not contain refund provisions. The Company bills for monthly subscriptions on a monthly basis and annually in advance for subscriptions with terms of one year or more. The price of subscriptions is generally fixed at contract inception and therefore, the Company’s contracts do not contain a significant amount of variable consideration. As a result, the amount of revenue recognized in the periods presented from performance obligations satisfied (or partially satisfied) in previous periods due to changes in the transaction price was not material. Subscription revenue excludes sales and other indirect taxes. Accounts Receivable and Related Allowance Accounts receivable are recorded at the invoiced amount, net of allowances for doubtful accounts. The allowance for doubtful accounts is based on the Company’s assessment of the collectability of accounts. The Company regularly reviews the adequacy of the allowance for doubtful accounts by considering the age of each outstanding invoice and the collection history of each customer to determine the appropriate amount of allowance for doubtful accounts. Accounts receivable deemed uncollectible are charged against the allowance for doubtful accounts when identified. Activity related to the Company’s allowance for doubtful accounts was as follows: Amount (in thousands) Balance as of January 31, 2018 $ 1,296 Charged to bad debt expense 1,440 Write-offs, net of recoveries (376 ) Balance as of January 31, 2019 $ 2,360 Charged to bad debt expense 11 Write-offs, net of recoveries (1,561 ) Balance as of January 31, 2020 $ 810 Deferred Revenue The Company records contract liabilities to deferred revenue when amounts are invoiced in advance of performance. Deferred revenue consists of the unearned portion of customer billings. The Company’s payment terms generally provide for payment within 30 days of the invoice date. Amounts anticipated to be recognized within one year of the balance sheet date are recorded as deferred revenue, current; the remaining portion is recorded as deferred revenue, non-current in the consolidated balance sheets. The Company applied the practical expedient in Topic 606 and did not evaluate contracts of one year or less for the existence of a significant financing component. For contracts with terms of more than a year, the Company has determined its contracts generally do not include a significant financing component as these all relate to contracts that are billed annually in advance. The primary purpose of the Company’s invoicing terms is to provide customers with simplified and predictable ways of purchasing the Company’s subscription, not to receive financing from its customers or to provide customers with financing. Deferred Contract Costs Deferred contract costs consist of sales commissions earned by the Company’s sales force which are considered incremental and recoverable costs of obtaining a contract with a customer. The Company determined that sales commissions that are related to contract renewals are not commensurate with commissions earned on the initial contract. Accordingly, sales commissions for initial contracts are deferred and then amortized on a straight-line basis over a period of benefit that the Company has determined to be four years . The Company determined the period of benefit by taking into consideration its customer contracts, technology, and other factors. Amounts anticipated to be recognized within one year of the balance sheet date are recorded as deferred contract costs, current; the remaining portion is recorded as deferred contract costs, noncurrent in the consolidated balance sheets. Deferred contract costs are periodically reviewed for impairment. Amortization of deferred contract costs is included in sales and marketing expense in the consolidated statements of operations. Deferred contract costs on the Company’s consolidated balance sheets were $25.7 million and $17.5 million as of January 31, 2020 and 2019 , respectively. Amortization expense was $7.8 million , $4.5 million , and $2.5 million for the fiscal years ended January 31, 2020 , 2019 , and 2018 , respectively. There was no impairment loss in relation to the costs capitalized for the periods presented. The following table represents a rollforward of the Company’s deferred contract costs: Amount (in thousands) Balance as of January 31, 2018 $ 8,158 Additions to deferred contract costs 13,809 Amortization of deferred contract costs (4,495 ) Balance as of January 31, 2019 $ 17,472 Additions to deferred contract costs 15,996 Amortization of deferred contract costs (7,780 ) Balance as of January 31, 2020 $ 25,688 Concentrations of Risk and Significant Customers The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, held-to-maturity investments, available-for-sale investments, and accounts receivable. All of the Company’s cash and cash equivalents and investments are invested in money market funds, United States (U.S.) Treasury securities, commercial paper, corporate debt securities, or U.S. Government agency securities that management believes to be of high credit quality. No single customer accounted for more than 10% of the total accounts receivable balance as of January 31, 2020 . One customer accounted for 10% of the total accounts receivable balance as of January 31, 2019 . No single customer represented 10% or more of revenue for the fiscal years ended January 31, 2020 , 2019 , or 2018 . Cost of Revenue Cost of revenue primarily consists of expenses related to providing the Company’s subscription to customers, including personnel expenses for operations and global support personnel, payments related to cloud infrastructure providers for hosting the Company’s software, payment processing fees, and allocated facilities, information technology, amortization of capitalized internal-use software costs, and other overhead costs. Interest Income Interest income consists of income earned on our cash and cash equivalents and interest earned on our short-term investments which consist of U.S. Treasury securities, commercial paper, corporate debt securities, and U.S. Government agency securities. Other Income, Net Other income, net primarily consists of accretion income on our held-to-maturity and available-for-sale investments, foreign currency transaction gains and losses, and sublease income related to our San Francisco lease, which expired in the fiscal year ended January 31, 2019. Foreign Currency Remeasurement The functional currency of the Company’s international subsidiaries is the United States dollar. Accordingly, monetary balance sheet accounts are remeasured using exchange rates in effect at the balance sheet dates and non-monetary items are remeasured at historical exchange rates. Revenue and expenses are remeasured at the average exchange rates for the period. Foreign currency transaction gains and losses are included in other income, net and were not material for the fiscal years ended January 31, 2020 , 2019 , or 2018 . Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand, highly liquid investments with original maturities of three months or less from the date of purchase, and money market funds. Investments The Company’s investments are classified as available-for-sale and held-to-maturity and consist of highly liquid investments, primarily U.S. Treasury securities, commercial paper, corporate debt securities, and U.S. Government agency securities. The Company determines the appropriate classification of its investments at the time of purchase and reevaluates such designation at each balance sheet date. The Company periodically evaluates its short-term investments to assess whether those with unrealized loss positions are other-than-temporarily impaired. The Company considers various factors in determining whether to recognize an impairment charge, including the length of time the investment has been in a loss position, the extent to which the fair value is less than the Company’s cost basis, and the financial condition and near-term prospects of the investee. If the Company determines that the decline in an investment’s fair value is other-than-temporary, an impairment loss is recognized in earnings equal to the difference between the investment’s amortized cost and fair value at such date. Realized gains and losses are reported in other income, net, in the consolidated statements of operations. No impairment charges have been recognized to date. Held-to-maturity The Company’s held-to-maturity investments consist of investments with maturities over three months from the date of purchase and less than 12 months from the date of the balance sheet and are classified as short-term. The Company has the ability and positive intent to hold these investments to maturity. Held-to-maturity investments are carried at amortized cost, which approximates fair value. Available-for-sale The Company classifies its available-for-sale investments, including those with stated maturities beyond twelve months, as short-term based on their highly liquid nature and because they represent the investment of cash that is available for current operations. In addition, the Company may sell these investments at any time for use in its current operations or for other purposes, even prior to maturity. The Company's available-for-sale investments are recorded at fair market value each reporting period. Unrealized gains and losses on these available-for-sale investments are reported as a separate component of accumulated other comprehensive income in the accompanying consolidated balance sheet until realized. Restricted Cash Restricted cash primarily consists of collateralized letters of credit established in connection with lease agreements for the Company’s facilities. The Company had no restricted cash as of January 31, 2020 . Restricted cash totaled $2.4 million as of January 31, 2019 and is included within other assets on the consolidated balance sheets. Related Party Transactions Certain members of the Company’s Board of Directors serve as directors of, or are executive officers of, and in some cases are investors in, companies that are customers or vendors of the Company. The Company recognized revenue from the sales of its product to a related party of $1.0 million in the fiscal year ended January 31, 2020 . Other related party transactions were not material for the fiscal years ended January 31, 2020 , 2019 , or 2018 . Deferred Offering Costs Prior to the IPO, all deferred offering costs were capitalized in other noncurrent assets in the consolidated balance sheets. Deferred offering costs of $6.4 million , primarily consisting of accounting, legal, and other fees related to the Company’s IPO, were offset against IPO proceeds upon the closing of the Company’s IPO in April 2019. As of January 31, 2020 , the Company had no deferred offering costs. As of January 31, 2019 , there were $3.3 million of deferred offering costs which are included in other assets in the accompanying consolidated balance sheets. Property and Equipment, Net Property and equipment, net, are stated at cost less accumulated depreciation. Depreciation is recorded using the straight-line method over the estimated useful lives of the respective assets, which is generally three to five years . Leasehold improvements are depreciated over the shorter of the estimated useful lives of the assets or the lease term. Property and equipment is reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of these assets is measured by a comparison of the carrying amounts to the future undiscounted cash flows the assets are expected to generate. If property and equipment are considered impaired, the impairment to be recognized equals the amount by which the carrying value of the asset exceeds its fair value. If we reduce the estimated useful life assumption for any asset, the remaining unamortized balance would be amortized or depreciated over the revised estimated useful life. Research and Development Expense Research and development expenses consist primarily of personnel costs for the Company’s engineering, product, and design teams. Additionally, research and development expenses include contractor fees, depreciation of equipment used in research and development activities, and allocated overhead costs. Research and development costs are expensed as incurred. Internal-Use Software Costs The Company evaluates costs related to the development of its platform and certain projects for internal use incurred during the application development stage. Costs related to preliminary project activities and post-implementation activities are expensed as incurred and costs related to the application development stage are capitalized. Internal-use software is amortized on a straight-line basis over its estimated useful life of three years . Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. The Company capitalized $0.4 million during the fiscal year ended January 31, 2019 . No internal-use software costs were capitalized during the fiscal year ended January 31, 2020 . Advertising Costs Advertising costs are expensed as incurred and are included in sales and marketing expense. Advertising costs were $5.1 million for all periods presented. Stock-Based Compensation The Company recognizes compensation expense for all stock-based payment awards, including stock options and restricted stock units (RSUs), based on the estimated fair value of the award on the grant date. The Company estimates the fair value of stock options issued to employees on the date of grant using the Black-Scholes option pricing model, which is impacted by the estimated fair value of the Company’s common stock, as well as certain assumptions including the expected volatility over the term of the option awards, the expected term of the awards, risk-free interest rates and the expected dividend yield. Assumptions and estimates used in the determination of the fair value of stock options are as follows: Expected volatility —Expected volatility is a measure of the amount by which the stock price is expected to fluctuate. Since the Company does not have sufficient trading history for its common stock, it estimates the expected volatility of its stock options by taking the average historical volatility of a group of comparable publicly traded companies over a period equal to the expected life of the options. Expected term —The Company determines the expected term based on the average period the stock options are expected to remain outstanding, generally calculated as the midpoint of the stock options’ vesting term and contractual expiration period, as the Company does not have sufficient historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior. Risk-free rate —The Company uses the U.S. Treasury yield for its risk-free interest rate that corresponds with the expected term. Expected dividend yield —The Company utilizes a dividend yield of zero , as it does not currently issue dividends and does not expect to in the future. Fair value of common stock Prior to the IPO, in accordance with the American Institute of Certified Public Accountants Accounting and Valuation Guide, Valuation of Privately-Held Company Equity Securities Issued as Compensation , the Company’s board of directors exercised reasonable judgment and considered numerous objective and subjective factors to determine the best estimate of fair value of the Company’s common stock, including but not limited to contemporaneous valuations of our common stock performed by independent third-party specialists; the prices, rights, preferences, and privileges of redeemable convertible preferred stock relative to those of common stock; the prices at which the Company sold shares of its common stock to third-party investors and in secondary transactions in arm’s-length transactions; the Company’s operating and financial performance; and additional relevant economic information. The Company estimates the fair value of RSUs at our stock price on the grant date. The Company estimates the fair value of shares to be issued under the ESPP on the first day of the offering period using the Black-Scholes valuation model, which is impacted by the estimated fair value of the Company’s common stock, as well as certain assumptions including the expected volatility over the term of the offering period, the expected term of the awards, risk-free interest rates and the expected dividend yield. Assumptions used in the determination of the fair value of the ESPP are the same as those used in the determination of the fair value of our stock options. The Company recognizes compensation expense for employee stock-based payment awards on a straight-line basis over the period during which an award recipient is required to provide services in exchange for the award (generally the vesting period of the award). The Company accounts for forfeitures as they occur. The fair value of each non-employee stock option is estimated at the date of grant using the Black-Scholes option pricing model and is not remeasured over the vesting term. Assumptions used in valuing non-employee stock options are generally consistent with those used for employee stock options with the exception that the expected term is over the contractual life. Income Taxes The Company accounts for income taxes using the asset and liability method. Under this method, the Company recognizes deferred income tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, as well as for net operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the tax rates that are expected to apply to taxable income for the years in which those tax assets and liabilities are expected to be realized or settled. The Company recognizes the deferred income tax effects of a change in tax rates in the period of enactment. The Company records a valuation allowance to reduce its deferred tax assets to the net amount that it believes is more likely than not to be realized. The Company considers all available evidence, both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable income and ongoing tax planning strategies in assessing the need for a valuation allowance. Realization of its deferred tax assets is dependent primarily upon future U.S. taxable income. The Company recognizes income tax benefits from uncertain tax positions only if it believes that it is more likely than not that the tax position will be sustained upon examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such uncertain tax positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. Although the Company believes that it has adequately reserved for its uncertain tax positions (including net interest and penalties), it can provide no assurance that the final tax outcome of these matters will not be materially different. The Company makes adjustments to these reserves when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate. To the extent that the final tax outcome of these matters is different from the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made and could have a material impact on its financial position, results of operations, and cash flows. Net Loss Per Common Share Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period giving effect to all potentially dilutive securities to the extent they are dilutive. The dilutive effect of potentially dilutive securities is reflected in diluted net loss per share by application of the treasury stock method. Basic and diluted net loss per common share were the same for each period presented as the inclusion of all potential common shares outstanding would have been anti-dilutive. Immaterial Correction of Error During the preparation of our fiscal year 2020 consolidated financial statements, the Company identified an immaterial error in the footnotes of our previously issued financial statements relating to the classification of revenue between United States revenue and international revenue in the notes to our consolidated financial statements. As a result, United States revenue was understated by $3.6 million and international revenue was overstated by $3.6 million in the fiscal year ended January 31, 2019 . There was no impact to total revenues or net loss in the Company’s consolidated statements of operations and comprehensive loss. The error has been corrected in Note 10. “Geographic Information” . Management determined that the impact of this error is not material to the previously issued annual and interim financial statements using the guidance of SEC Staff Accounting Bulletin (SAB) No. 99 (SAB 99) and SAB No. 108 (SAB 108). Recently Adopted Accounting Pronouncements In July 2018, the FASB issued Accounting Standards Update No. 2018-09, Codification Improvements ( ASU 2018-09) . These amendments provide clarifications and corrections to certain ASC subtopics including the following: 220-10 (Income Statement - Reporting Comprehensive Income - Overall), 470-50 (Debt - Modifications and Extinguishments), 480-10 (Distinguishing Liabilities from Equity - Overall), 718-740 (Compensation - Stock Compensation - Income Taxes), 805-740 (Business Combinations - Income Taxes), 815-10 (Derivatives and Hedging - Overall), and 820-10 (Fair Value Measurement - Overall). Some of the amendments in ASU 2018-09 do not require transition guidance and will be effective upon issuance; however, many of the amendments do have transition guidance with effective dates for annual periods beginning after December 15, 2019. The amendments that were effective upon issuance of the update did not have an impact on the Company’s consolidated financial statements. The Company early adopted this ASU beginning February 1, 2019 noting that the adoption of the standard had no material impact on its consolidated financial statements. Recently Issued Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) (ASU 2016-02) , which would require lessees to recognize most leases on their balance sheets, whether operating or financing, while continuing to recognize the expenses on their income statements in a manner similar to current practice. The guidance states that a lessee would recognize a lease liability for the obligation to make lease payments and a right-to-use asset for the right to use the underlying asset for the lease term. The Company plans to adopt this guidance as of February 1, 2020 using the modified retrospective method and will recognize a cumulative-effect adjustment to the opening balance of accumulated deficit as of the adoption date. The Company will elect the optional transition approach to not apply Topic 842 in the comparative periods presented and the package of practical expedients. We have completed our process to identify our population of lease arrangements and completed our evaluation of each arrangement under the guidance, including application of elected practical expedients , and we are finalizing the incremental borrowing rate for each arrangement. While the adoption remains in progress, we expect that the adoption will result in the recognition of right-of-use assets and lease liabilities that were not previously recognized, which will increase total assets and liabilities on our consolidated balance sheets. The Company does not expect the adoption of Topic 842 to have a material impact to the consolidated statements of operations or to have any impact on its cash flows from operating, investing, or financing activities. In June 2016, the FASB issued Accounting Standards Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which requires an entity to utilize a new impairment model known as the current expected credit loss (CECL) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. This guidance also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The Company expects to adopt this guidance as of February 1, 2020. The Company has evaluated the impact of the adoption of this standard and does not expect adoption of Topic 326 to have a material impact to the consolidated financial statements. |
Balance Sheet Components
Balance Sheet Components | 12 Months Ended |
Jan. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Balance Sheet Components | Balance Sheet Components Cash, Cash Equivalents, and Investments Cash, cash equivalents, and investments consisted of the following: As of January 31, 2020 2019 (in thousands) Cash and cash equivalents Cash $ 2,131 $ 125,852 Money market funds 118,899 2,023 U.S. Treasury securities 2,994 — Total cash and cash equivalents $ 124,024 $ 127,875 Available-for-sale investments: U.S. Treasury securities $ 24,987 $ — Commercial paper 20,132 — Corporate debt securities 149,248 — U.S. Government agency securities 4,973 — Total available-for-sale investments $ 199,340 $ — Held-to-maturity investments: U.S. Treasury securities $ 9,016 $ — Commercial paper 5,985 — Corporate debt securities 13,034 — Total held-to-maturities investments $ 28,035 $ — Total investments $ 227,375 $ — The following table summarizes the Company’s investments’ adjusted cost, net unrealized gains, and fair value by significant investment category as of January 31, 2020 . Gross realized gains or losses from sales of available-for-sale securities were not material for the fiscal year ended January 31, 2020 . Adjusted Cost Unrealized Gain, Net Fair value (in thousands) Available-for-sale investments: U.S. Treasury securities $ 24,978 $ 9 $ 24,987 Commercial paper 20,128 4 20,132 Corporate debt securities 149,124 124 149,248 U.S. Government agency securities 4,973 — 4,973 Total available-for-sale investments $ 199,203 $ 137 $ 199,340 Held-to-maturity investments: U.S. Treasury securities 9,016 — 9,016 Commercial paper 5,985 — 5,985 Corporate debt securities 13,034 — 13,034 Total held-to-maturities investments 28,035 — 28,035 Total investments $ 227,238 $ 137 $ 227,375 All of the Company’s held-to-maturity securities have a contractual maturity of less than one year. The following table presents the Company’s available-for-sale securities by contractual maturity date as of January 31, 2020 : Adjusted Cost Fair Value (in thousands) Due within one year $ 128,127 $ 128,169 Due between one to five years 71,076 71,171 $ 199,203 $ 199,340 There were no securities in a continuous net loss position for 12 months or longer as of January 31, 2020 . As of January 31, 2020 , we had 21 securities in an unrealized loss position. Investments are reviewed periodically to identify possible other-than-temporary impairments. When evaluating investments for other-than-temporary impairment, we review factors such as length of time and extent to which fair value has been below cost basis, the financial condition of the issuer and any changes thereto, and our intent to sell, or whether it is more likely than not we will be required to sell, the investment before recovery of the investment’s amortized cost. No impairment loss has been recorded on the securities included in the tables above, as we believe that the decrease in fair value of these securities is temporary and we expect to recover at least up to the initial cost of the investment for these securities. The Company had no investments as of January 31, 2019 . Property and Equipment, Net Property and equipment, net consisted of the following: As of January 31, 2020 2019 (in thousands) Leasehold improvements $ 12,257 $ 6,512 Computers and equipment 4,431 2,998 Furniture and fixtures 2,540 1,239 Capitalized internal-use software 389 389 Gross property and equipment (1) $ 19,617 $ 11,138 Accumulated depreciation and amortization (7,248 ) (5,366 ) Property and equipment, net $ 12,369 $ 5,772 (1) Gross property and equipment includes construction-in-progress for leasehold improvements and furniture and fixtures of $5.1 million and $0.2 million that had not yet been placed in service as of January 31, 2020 and January 31, 2019 , respectively. The costs associated with construction-in-progress are not amortized until placed in service. Depreciation and amortization expense was $2.2 million , $1.7 million , and $1.3 million for the fiscal years ended January 31, 2020 , 2019 , and 2018 , respectively. Other Assets Other assets consisted of the following: As of January 31, 2020 2019 (in thousands) Restricted cash $ — $ 2,448 Deferred offering costs — 3,261 Capitalized implementation costs 358 286 Other 1,293 1,160 Other assets $ 1,651 $ 7,155 Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: As of January 31, 2020 2019 (in thousands) Accrued professional fees $ 1,436 $ 3,037 Accrued events 300 400 Deferred rent 790 268 Accrued hosting and infrastructure 689 47 Early exercise liability 509 1,827 Accrued taxes 961 255 Accrued liabilities, other 2,512 1,311 Accrued expenses and other liabilities $ 7,197 $ 7,145 |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Jan. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements The Company measures its financial assets and liabilities at fair value each reporting period using a fair value hierarchy that prioritizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Three levels of inputs may be used to measure fair value, as follows: Level 1—Valuations based on observable inputs that reflect quoted prices for identical assets or liabilities in active markets. Level 2—Valuations based on inputs that are directly or indirectly observable in the marketplace. Level 3—Valuations based on unobservable inputs that are supported by little or no market activity. The following table presents information about the Company’s financial assets that are required to be measured or disclosed at fair value using the above input categories: As of January 31, 2020 Level 1 Level 2 Level 3 Total (in thousands) Money market funds $ 118,899 $ — $ — $ 118,899 U.S. Treasury securities 2,994 34,003 — 36,997 Commercial paper — 26,117 — 26,117 Corporate debt securities — 162,282 — 162,282 U.S. Government agency securities — 4,973 — 4,973 Total $ 121,893 $ 227,375 $ — $ 349,268 Included in cash equivalents $ 121,893 Included in investments $ 227,375 As of January 31, 2019 Level 1 Level 2 Level 3 Total (in thousands) Money market funds $ 4,417 $ — $ — $ 4,417 Total $ 4,417 $ — $ — $ 4,417 Included in cash equivalents $ 2,023 Included in other assets $ 2,394 The Company’s assets that are measured by management at fair value on a recurring basis are classified within Level 1 or Level 2 of the fair value hierarchy. The Company did not have any transfers into and out of Level 1 or Level 2 during the fiscal years ended January 31, 2020 and 2019 . The Company considers all highly liquid investments purchased with a remaining maturity of three months or less to be cash equivalents. As of January 31, 2020 , the Company’s Level 2 securities were priced by pricing vendors. These pricing vendors utilize observable market information in pricing these securities or, if specific prices are not available for these securities, use other observable inputs like market transactions involving identical or comparable securities. The Company had no Level 2 securities as of January 31, 2019 . The carrying amounts of certain financial instruments, including cash held in banks, accounts receivable, and accounts payable approximate fair value due to their short-term maturities and are excluded from the fair value table above. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jan. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Operating Leases The Company has entered into various non-cancellable operating leases for its office spaces with lease periods expiring between fiscal 2020 and fiscal 2029. In addition to base rent the Company is also committed to pay a portion of the actual operating expenses under certain of these lease arrangements. In December 2015, the Company entered into a sublease agreement for its former headquarters in San Francisco, California. The Company received sublease income of $1.1 million and $1.4 million for the fiscal years ended January 31, 2019 and 2018 . The lease and related sublease expired in fiscal 2019. The facility lease agreements generally provide for rental payments on a graduated basis and for options to renew, which could increase future minimum lease payments if exercised. The Company recognizes rent expense on a straight-line basis over the lease period and has accrued for rent expense incurred but not paid. Deferred rent was $6.8 million as of January 31, 2020 , of which $0.8 million was included within accrued expenses and other current liabilities and $6.0 million was included within other liabilities on the consolidated balance sheets. Deferred rent was $3.7 million as of January 31, 2019 , of which $0.3 million was included within accrued expenses and other current liabilities and $3.4 million was included within other liabilities on the consolidated balance sheets. Rent expense was $6.5 million , $4.6 million , and $3.9 million for the fiscal years ended January 31, 2020 , 2019 , and 2018 , respectively. As of January 31, 2020 , the future minimum lease payments by fiscal year excluding sublease income under non-cancellable operating leases are as follows: Minimum Lease Payments (in thousands) 2021 $ 6,196 2022 6,419 2023 6,499 2024 6,680 2025 6,879 Thereafter 8,955 Total $ 41,628 Total future minimum lease payments under non-cancellable operating leases as of January 31, 2020 are primarily comprised of lease payments due under the lease of the Company’s headquarters in San Francisco, California, and leases for the Company’s offices in Toronto, Canada and Atlanta, Georgia. In July 2019, the Company entered into a non-cancellable operating lease for office space in Atlanta, Georgia, with minimum lease payments of $14.4 million through the lease term of July 2028. Purchase Commitments As of January 31, 2020 , the Company had non-cancellable purchase commitments with certain service providers totaling approximately $27.4 million , payable over the next 3 years . Legal Matters From time to time in the normal course of business, the Company may be subject to various claims and other legal matters arising in the ordinary course of business. The Company investigates these claims as they arise and accrues estimates for resolution of legal and other contingencies when losses are probable and estimable. The Company is not currently a party to any legal proceedings and does not anticipate any pending or threatened litigation that would be expected to have a material adverse effect on its financial condition, results of operations, or cash flows. Warranties and Indemnification The Company has entered into service-level agreements with a portion of its customers defining levels of uptime reliability and performance and permitting those customers to receive credits if the Company fails to meet the defined levels of uptime. To date, the Company has not experienced any significant failures to meet defined levels of uptime reliability and performance as a result of those agreements and, as a result, the Company has not incurred or accrued any material liabilities related to these agreements in the financial statements. |
Deferred Revenue and Performanc
Deferred Revenue and Performance Obligations | 12 Months Ended |
Jan. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Deferred Revenue and Performance Obligations | Deferred Revenue and Performance Obligations The following table presents the changes to the Company’s deferred revenue: Year Ended January 31, 2020 2019 2018 (in thousands) Deferred revenue, beginning of period $ 64,104 $ 38,169 $ 22,973 Billings 194,816 143,758 94,826 Revenue recognized (166,351 ) (117,823 ) (79,630 ) Deferred revenue, end of period $ 92,569 $ 64,104 $ 38,169 Approximately 38% , 32% , and 27% of total revenue recognized in the fiscal years ended January 31, 2020 , 2019 , and 2018 was from the deferred revenue balance as of January 31, 2019 , 2018 and 2017 , respectively. As of January 31, 2020 and January 31, 2019 , future estimated revenue related to performance obligations for subscriptions with terms of more than one year that are unsatisfied or partially unsatisfied at the end of the reporting periods was approximately $75.7 million and $43.6 million , respectively. The Company expects to satisfy the substantial majority of these unsatisfied performance obligations over the next 24 months and the remainder thereafter. The Company applied the optional exemption for subscriptions with terms of less than a one year. |
Common Stock and Stockholders'
Common Stock and Stockholders' Equity (Deficit) | 12 Months Ended |
Jan. 31, 2020 | |
Equity [Abstract] | |
Common Stock and Stockholders' Equity (Deficit) | Common Stock and Stockholders’ Equity (Deficit) Redeemable Convertible Preferred Stock Immediately prior to the completion of the IPO in April 2019, all shares of redeemable convertible preferred stock then outstanding were converted into 41,273,345 shares of common stock on a one -to-one basis and then immediately reclassified into common stock. Equity Incentive Plans The Company has two equity incentive plans: the 2010 Stock Plan (the 2010 Plan) and the 2019 Equity Incentive Plan (the 2019 Plan, collectively the Stock Plans). Upon completion of the Company’s IPO in April 2019, the Company ceased granting awards under the 2010 Plan, and all shares that remained available for future issuance under the 2010 Plan at that time were transferred to the 2019 Plan. The 2019 Plan superseded and replaced the 2010 Plan. Under the 2019 Plan, the Company’s Board of Directors (the Board) and any other committee or subcommittee of the Board may grant stock options, RSAs, and RSUs to employees, consultants, and advisors of the Company. Through January 31, 2020 , the Company has granted stock options, RSAs, and RSUs. As of January 31, 2020 and January 31, 2019 , respectively, the Company was authorized to grant up to 13,126,301 shares and 23,929,932 shares of common stock under the Stock Plans. The Company has issued stock options and RSAs to employees and non-employee directors under the 2010 Plan, and certain of these awards allow for early exercise. The Company has issued stock options and RSUs to employees pursuant to the 2019 Plan. Stock options are granted with exercise prices at the fair value of the underlying common stock on the grant date, in general vest based on continuous employment over four years and expire 10 years from the date of grant. RSUs are measured based on the grant date fair value of the awards and in general vest based on continuous employment over four years . In March 2019, the Company granted 3,041,000 stock options to existing employees with 50 percent of these options vesting over four years from the grant date and 50 percent vesting over five years from the grant date. The Company currently uses authorized and unissued shares to satisfy stock award exercises. As of January 31, 2020 and January 31, 2019 , there were 11,841,156 shares and 2,221,216 shares available for future issuance under the Stock Plans, respectively. Shares of common stock reserved for future issuance are as follows: January 31, 2020 Outstanding stock options and unvested RSUs outstanding 15,612,956 Available for future stock option and RSU grants 11,841,156 Available for ESPP 1,639,225 Total common stock reserved at January 31, 2020 29,093,337 Stock Option Activity Stock option activity is as follows: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) Outstanding at January 31, 2019 14,006,222 $ 4.32 8.2 years $ 142,840 Granted 3,907,534 $ 16.15 Exercised (2,527,533 ) $ 2.76 Canceled (888,178 ) $ 11.32 Outstanding at January 31, 2020 14,498,045 $ 7.37 7.8 years $ 231,300 Vested as of January 31, 2020 6,973,210 $ 3.66 7.0 years $ 137,060 The Company uses the Black-Scholes option-pricing model to estimate the fair value of stock options on the date of grant. The Company accounts for forfeitures as they occur. The following assumptions were used to calculate the fair value of employee stock option grants made during the periods: Year Ended January 31, 2020 2019 2018 Expected dividend yield — — — Expected volatility 41.7% - 42.8% 40.1% - 43.2% 40.3% - 46.7% Expected term (years) 5.5 - 6.9 5.4 - 6.8 5.5 - 6.3 Risk-free interest rate 1.39% - 2.48% 2.53% - 3.04% 1.85% - 2.57% Assumptions used in valuing non-employee stock options are generally consistent with those used for employee stock options with the exception that the expected term is over the contractual life, or 10 years . Stock options granted during the fiscal years ended January 31, 2020 , 2019 , and 2018 had a weighted average grant date fair value of $11.07 , $4.87 , and $3.32 per share, respectively. The aggregate intrinsic value of stock options exercised during the fiscal years ended January 31, 2020 , 2019 , and 2018 was $61.7 million , $10.5 million , and $6.4 million , respectively. The intrinsic value for options exercised is the difference between the market value of the stock and the exercise price of the stock option at the date of exercise. As of January 31, 2020 , there was approximately $48.6 million of total unrecognized compensation cost related to unvested stock options granted under the Stock Plans, which will be recognized over a weighted average period of 3.2 years . Restricted Stock Units A summary of the Company’s RSU activity and related information is as follow: Number of RSUs Weighted Average Grant Date Fair Value Per Share Outstanding at January 31, 2019 — $ — Granted 1,153,504 $ 28.20 Vested, net of shares withheld for employee payroll taxes (1,293 ) $ 32.48 Canceled (37,300 ) $ 30.63 Outstanding at January 31, 2020 1,114,911 $ 28.10 The Company uses the fair value of RSUs based on the fair value of the underlying shares on the date of grant. The Company accounts for forfeitures as they occur. As of January 31, 2020 , there was $29.0 million of unrecognized stock-based compensation expense related to unvested RSUs, which is expected to be recognized over a weighted average period of 3.7 years based on vesting under the award service conditions. Employee Stock Purchase Plan In April 2019, the Board adopted and approved the 2019 Employee Stock Purchase Plan, which became effective on April 11, 2019. The ESPP initially reserved and authorized the issuance of up to a total of 1,850,000 shares of common stock to participating employees. The initial offering period began April 11, 2019 and will end on June 15, 2021, with purchase dates of December 13, 2019, June 15, 2020, December 15, 2020 and June 15, 2021. The ESPP generally provides for 24 -month offering periods beginning June 15 and December 15 of each year, with each offering period consisting of four six -month purchase periods, except for the initial offering period which began on April 11, 2019 and ended on December 13, 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 as of the beginning of the offering period or (2) the fair market value of the Company’s stock on the purchase date, as defined in the ESPP. The following assumptions were used to calculate the fair value of shares to be granted under the ESPP during the period: Year Ended January 31, 2020 Expected dividend yield — Expected volatility 39.2% - 48.4% Expected term (years) 0.5 - 2.1 Risk-free interest rate 1.53% - 2.43% During the year ended January 31, 2020 , the Company recognized $5.1 million of stock-based compensation expense related to ESPP and withheld $5.5 million in contributions from employees. In the year ended January 31, 2020 , 210,775 shares of common stock were issued under the ESPP at a purchase price of $19.63 . Warrant Issued as Charitable Contribution In the fiscal year ended January 31, 2019 , the Company commenced an initiative to donate product, equity, and employee time for charitable purposes. In June 2018, as part of this initiative, the Company issued to the Tides Foundation a warrant to purchase up to 648,092 shares of the Company’s common stock, exercisable at a price of $0.01 per share. The common stock warrant was automatically net exercised for 647,822 shares of common stock upon the closing of the IPO. The Company recognized $6.2 million of non-cash charitable contribution expense during the fiscal year ended January 31, 2019 and this amount is included within stock-based compensation expense in general and administrative expense in the accompanying consolidated statement of operations. Common Stock Transfers During the fiscal year ended January 31, 2019 , certain of the Company’s investors acquired outstanding common stock from current or former employees at a purchase price greater than or equal to the estimated fair value at the time of the transactions. For the shares acquired at a price in excess of fair value during the fiscal year ended January 31, 2019 , the Company recorded stock-based compensation expense for the difference between the price paid and the estimated fair value on the date of the transactions of $5.5 million . The Company recorded $3.8 million of this expense in research and development expense, $1.4 million in general and administrative expense and $0.3 million in sales and marketing expense. In connection with these stock transfers, the Company either waived or assigned its rights of first refusal or other transfer restrictions applicable to such shares. There were no such transactions during the fiscal years ended January 31, 2020 or 2018 . Common Stock Subject to Repurchase Common stock purchased pursuant to an early exercise of stock options is not deemed to be outstanding for accounting purposes until those shares vest. The consideration received for an exercise of an option is considered to be a deposit of the exercise price and the related dollar amount is recorded as a liability. The shares issued upon the early exercise of these unvested stock option awards, which are reflected as exercises in the table above, are considered to be legally issued and outstanding on the date of exercise. Upon termination of service, the Company may repurchase unvested shares acquired through early exercise of stock options at a price equal to the price per share paid upon the exercise of such options. As of January 31, 2020 and 2019 , the Company has recorded liabilities related to early exercises of 76,415 and 339,049 shares of common stock, respectively. The related liability is recorded within accrued expenses and other current liabilities on the accompanying consolidated balance sheets and was $0.5 million and $1.8 million as of January 31, 2020 and 2019 , respectively. The liability is reclassified into stockholders’ equity as the awards vest. Stock-Based Compensation Stock-based compensation expense included in the Company’s consolidated statements of operations is as follows: Year Ended January 31, 2020 2019 2018 (in thousands) Cost of revenue $ 1,018 $ 282 $ 385 Research and development 5,566 8,171 9,796 Sales and marketing 8,924 3,982 3,831 General and administrative (1) 11,697 12,860 4,140 Total $ 27,205 $ 25,295 $ 18,152 (1) Stock-based compensation expense above includes $6.2 million of non-cash charitable contribution expense in the fiscal year ended January 31, 2019. |
Net Loss Per Share
Net Loss Per Share | 12 Months Ended |
Jan. 31, 2020 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | Net Loss per Share The following table presents the calculation of basic and diluted net loss per share: Year Ended January 31, 2020 2019 2018 (in thousands, except per share data) Numerator: Net loss $ (50,339 ) $ (40,741 ) (38,149 ) Denominator: Weighted average shares used in calculating net loss per share, basic and diluted 65,544 21,410 19,986 Net loss per share, basic and diluted $ (0.77 ) $ (1.90 ) $ (1.91 ) Since the Company was in a loss position for the periods presented, basic net loss per share is the same as diluted net loss per share as the inclusion of all potential common shares outstanding would have been anti-dilutive. Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows: As of January 31, 2020 2019 2018 (in thousands) Redeemable convertible preferred stock — 41,273 36,001 Shares subject to outstanding common stock awards 15,613 14,006 11,316 Unvested early exercised stock options 76 339 246 Warrants to purchase common stock — 750 204 Early exercised stock options in exchange for note receivable — 250 250 Restricted stock awards purchased with promissory notes 180 510 664 Shares issuable pursuant to the 2019 Employee Stock Purchase Plan 67 — — Total 15,936 57,128 48,681 |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The components of income (loss) before income taxes are as follows: Year Ended January 31, 2020 2019 2018 (in thousands) Domestic $ (53,485 ) $ (39,863 ) $ (37,396 ) Foreign 3,821 (177 ) (569 ) Loss before provision for income taxes $ (49,664 ) $ (40,040 ) $ (37,965 ) The components of the provision for income taxes are as follows: Year Ended January 31, 2020 2019 2018 (in thousands) Current Federal $ — $ — $ — State 126 26 15 Foreign 25 135 123 Total current tax expense $ 151 $ 161 $ 138 Deferred Federal $ — $ (3 ) $ 9 State (1 ) — 1 Foreign 525 543 36 Total deferred tax expense $ 524 $ 540 $ 46 Provision for income taxes $ 675 $ 701 $ 184 A reconciliation of the Company’s recorded provision for income taxes to the amount of taxes computed at the U.S. statutory rate is as follows: Year Ended January 31, 2020 2019 2018 (in thousands) Income taxes computed at U.S. federal statutory rate $ (10,429 ) $ (8,408 ) $ (12,489 ) State taxes, net of federal benefit (4,901 ) (1,326 ) (1,400 ) Permanent differences 308 220 34 Stock-based compensation (3,739 ) 1,077 4,569 Foreign rate differential (239 ) 34 10 Uncertain tax positions (14 ) 680 336 Tax Act — — 8,184 Tax credits (3,271 ) — — Change in valuation allowance 25,390 8,085 929 Charitable contributions (1,960 ) — — Other (470 ) 339 11 Provision for income taxes $ 675 $ 701 $ 184 On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (Tax Act) was enacted. The Tax Act contains several key tax provisions that affect the Company, including, but not limited to, reducing the U.S. federal corporate tax rate from 34% to 21% for tax years beginning after December 31, 2017, imposing a mandatory one-time deemed repatriation tax on previously untaxed foreign earnings, and changing rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after December 31, 2017. Due to the full valuation allowance recorded against our U.S. federal deferred tax assets, there was no U.S. income tax expense or benefit as a result of the Tax Act. The Company has elected to account for the tax effects of Global Intangible Low-Taxed Income (GILTI) as a period cost. Deferred income taxes arise from temporary differences between the carrying values of assets and liabilities for financial reporting purposes and income tax reporting purposes, as well as operating losses and tax credit carryforwards. Significant components of the Company’s deferred tax assets and liabilities are as follows: As of January 31, 2020 2019 (in thousands) Deferred tax assets: Net operating losses $ 36,412 $ 21,886 Allowances and accruals 2,437 2,322 Stock-based compensation 5,523 2,171 Charitable contributions 3,989 1,626 Tax credits 5,349 — Other 2,075 665 Gross deferred tax assets $ 55,785 $ 28,670 Less: valuation allowance (50,086 ) (24,695 ) Net deferred tax assets $ 5,699 $ 3,975 Deferred tax liabilities: Deferred commissions $ (6,519 ) $ (4,474 ) Other (256 ) (54 ) Gross deferred tax liabilities $ (6,775 ) $ (4,528 ) Net deferred tax liabilities $ (1,076 ) $ (553 ) The realization of deferred tax assets is dependent upon the generation of sufficient taxable income of the appropriate character in future periods. The Company regularly assesses the ability to realize its deferred tax assets and establishes a valuation allowance if it is more-likely-than-not that some portion of the deferred tax assets will not be realized. The Company weighs all available positive and negative evidence, including its earnings history and results of recent operations, scheduled reversals of deferred tax liabilities, projected future taxable income, and tax planning strategies. Due to the weight of objectively verifiable negative evidence, including its history of losses in the United States, the Company believes that it is more likely than not that its U.S. federal and state deferred tax assets will not be realized. Accordingly, the Company has recorded a full valuation allowance on such deferred tax assets. The valuation allowance against its various deferred tax assets increased by $25.4 million and $8.3 million during the fiscal years ended January 31, 2020 and 2019 , respectively. As of January 31, 2020 , the Company had federal, state, and foreign net operating loss carryforwards in the amount of $142.7 million , $5.8 million , and $2.8 million , respectively, which begin to expire in 2030. Utilization of the Company’s net operating loss may be subject to annual limitations due to the ownership change limitations provided by section 382 of the Internal Revenue Code and similar state provisions. The Company’s net operating loss carryforwards could expire before utilization if subject to annual limitations. As of January 31, 2020 , the Company had federal, California, and Canadian research and development credit carryforwards of $5.1 million , $3.7 million , and $0.3 million , respectively. The federal research and development credits will begin to expire in 2031, the California research and development credits have no expiration, and the Canadian research and development credits will begin to expire in 2034. The Company attributes net revenue, costs, and expenses to domestic and foreign components based on the terms of its agreements with its subsidiaries. The Company does not provide for federal and state income taxes on the undistributed earnings of its foreign subsidiaries as such earnings are to be reinvested offshore indefinitely. As a result of the Tax Act, if the Company repatriated these earnings, the tax impact of future distributions of foreign earnings would generally be limited to withholding tax from local jurisdictions, and the resulting income tax liability would be insignificant. The following table summarizes the activity related to the Company’s unrecognized tax benefits: Year Ended January 31, 2020 2019 2018 (in thousands) Balance at beginning of period $ 6,644 $ 4,385 $ 2,400 Additions related to prior years 71 — — Reductions related to prior years (3,515 ) (19 ) — Additions related to current year 843 2,278 1,985 Balance at end of period $ 4,043 $ 6,644 $ 4,385 All of the Company’s tax years remain open for examination by U.S. federal and state tax authorities. The non-U.S. tax returns remain open for examination for the years 2015 and onwards. Due to its U.S. federal and state valuation allowance, $1.1 million and $1.0 million of unrecognized tax benefits as of January 31, 2020 and 2019 , respectively, would affect the effective tax rate if recognized. The Company recognizes interest and penalties related to unrecognized tax benefits as provision for income taxes. The Company has accrued an immaterial amount of interest and penalties associated with its unrecognized tax benefits noted above as of January 31, 2020 and 2019 |
Geographic Information
Geographic Information | 12 Months Ended |
Jan. 31, 2020 | |
Segment Reporting [Abstract] | |
Geographic Information | Geographic Information Revenue by location is determined by the billing address of the customer. The following table sets forth revenue by geographic area: Year Ended January 31, 2020 2019 2018 (in thousands) United States $ 129,728 $ 94,345 $ 64,404 International 36,623 23,478 15,226 Total $ 166,351 $ 117,823 $ 79,630 Other than the United States, no other individual country accounted for 10% or more of revenue for the fiscal years ended January 31, 2020 , 2019 , or 2018 . As of January 31, 2020 , 76% of the Company’s property equipment was located in the United States, 23% was located in Canada, and 1% was located in the United Kingdom. As of January 31, 2019 , 48% of the Company’s property and equipment was located in the United States and 52% |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jan. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events The Company has evaluated subsequent events through March 19, 2020 . |
401(k) Plan
401(k) Plan | 12 Months Ended |
Jan. 31, 2020 | |
Retirement Benefits [Abstract] | |
401(k) Plan | 401(k) Plan The Company has a qualified defined contribution plan under Section 401(k) of the Internal Revenue Code covering eligible employees. The 401(k) plan allows each participant to contribute up to an amount not to exceed an annual statutory maximum. The Company is responsible for the administrative costs of the 401(k) plan, and effective July 1, 2019, the Company implemented an employer matching contribution of one percent ( 1% ) of each participant’s employee contributions of at least 1% of eligible wages during the period. During the fiscal year ended January 31, 2020 , we recognized expense of $0.4 million related to matching contributions. We did no t make any contributions in the fiscal years ended January 31, 2019 and 2018 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and include the consolidated accounts of PagerDuty. All intercompany balances and transactions have been eliminated upon consolidation. The Company’s fiscal year ends on January 31. References to fiscal 2020 , for example, refer to the fiscal year ended January 31, 2020 . |
Reclassification | Reclassification Certain reclassifications of prior period amounts have been made in the Company’s consolidated balance sheets and consolidated statements of cash flows to conform to the current period presentation. The Company has reclassified a portion of prepaid expenses and other current assets to the accounts receivable, net line item on the accompanying consolidated balance sheets. The Company has also reclassified a portion of accrued expenses and other current liabilities to the accounts payable line item on the accompanying consolidated balance sheets. The Company reclassified the bad debt expense line item to the other line item on the accompanying consolidated statements of cash flows. These reclassifications had no effect on the reported results of operations. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make, on an ongoing basis, estimates and assumptions that affect the reported amounts of assets and liabilities, 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 periods. Actual results could differ from these estimates. The Company’s most significant estimates and judgments involve the valuation of the Company’s stock-based awards, including the determination of fair value of common stock (prior to the closing of the IPO) and the fair value of the employee stock purchase plan (ESPP) expense, period of benefit for amortizing deferred contract costs, the determination of the allowance for doubtful accounts, and the provision for income taxes, including the related valuation allowance and any uncertain tax positions, among others. Management bases its estimates on historical experience and on various other assumptions which management believes to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. |
Segment Information | Segment Information The Company manages its operations and allocates resources as one |
Revenue Recognition, Deferred Revenue, Deferred Contract Costs, and Cost of Revenue | Deferred Revenue The Company records contract liabilities to deferred revenue when amounts are invoiced in advance of performance. Deferred revenue consists of the unearned portion of customer billings. The Company’s payment terms generally provide for payment within 30 days of the invoice date. Amounts anticipated to be recognized within one year of the balance sheet date are recorded as deferred revenue, current; the remaining portion is recorded as deferred revenue, non-current in the consolidated balance sheets. The Company applied the practical expedient in Topic 606 and did not evaluate contracts of one year or less for the existence of a significant financing component. For contracts with terms of more than a year, the Company has determined its contracts generally do not include a significant financing component as these all relate to contracts that are billed annually in advance. The primary purpose of the Company’s invoicing terms is to provide customers with simplified and predictable ways of purchasing the Company’s subscription, not to receive financing from its customers or to provide customers with financing. Deferred Contract Costs Deferred contract costs consist of sales commissions earned by the Company’s sales force which are considered incremental and recoverable costs of obtaining a contract with a customer. The Company determined that sales commissions that are related to contract renewals are not commensurate with commissions earned on the initial contract. Accordingly, sales commissions for initial contracts are deferred and then amortized on a straight-line basis over a period of benefit that the Company has determined to be four years . The Company determined the period of benefit by taking into consideration its customer contracts, technology, and other factors. Amounts anticipated to be recognized within one year of the balance sheet date are recorded as deferred contract costs, current; the remaining portion is recorded as deferred contract costs, noncurrent in the consolidated balance sheets. Deferred contract costs are periodically reviewed for impairment. Amortization of deferred contract costs is included in sales and marketing expense in the consolidated statements of operations. Cost of Revenue Cost of revenue primarily consists of expenses related to providing the Company’s subscription to customers, including personnel expenses for operations and global support personnel, payments related to cloud infrastructure providers for hosting the Company’s software, payment processing fees, and allocated facilities, information technology, amortization of capitalized internal-use software costs, and other overhead costs. Revenue Recognition The Company generates revenue from subscription fees. Revenue is recognized when control of these services is transferred to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those services. The Company accounts for revenue contracts with customers by applying the requirements of Topic 606, which includes the following steps: • Identification of the contract, or contracts, with a customer. • Identification of the performance obligations in the contract. • Determination of the transaction price. • Allocation of the transaction price to the performance obligations in the contract. • Recognition of revenue when, or as, the Company satisfies a performance obligation The Company’s subscriptions allow customers to use its cloud-hosted software over the contract period without taking possession of the software. The Company’s subscription agreements generally have monthly or annual contractual terms. Revenue is recognized ratably over the related contractual term beginning on the date that the Company’s platform is made available to a customer. Access to the platform represents a series of distinct services as the Company continually provides access to, and fulfills its obligation to, the end customer over the subscription term. The series of distinct services represents a single performance obligation that is satisfied over time. The Company recognizes revenue ratably because the customer receives and consumes the benefits of the platform throughout the contract period. The Company’s arrangements are generally non-cancellable and do not contain refund provisions. The Company bills for monthly subscriptions on a monthly basis and annually in advance for subscriptions with terms of one year or more. The price of subscriptions is generally fixed at contract inception and therefore, the Company’s contracts do not contain a significant amount of variable consideration. As a result, the amount of revenue recognized in the periods presented from performance obligations satisfied (or partially satisfied) in previous periods due to changes in the transaction price was not material. Subscription revenue excludes sales and other indirect taxes. |
Accounts Receivable and Related Allowance | Accounts Receivable and Related Allowance Accounts receivable are recorded at the invoiced amount, net of allowances for doubtful accounts. The allowance for doubtful accounts is based on the Company’s assessment of the collectability of accounts. The Company regularly reviews the adequacy of the allowance for doubtful accounts by considering the age of each outstanding invoice and the collection history of each customer to determine the appropriate amount of allowance for doubtful accounts. Accounts receivable deemed uncollectible are charged against the allowance for doubtful accounts when identified. |
Concentrations of Risk and Significant Customers | Concentrations of Risk and Significant Customers The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, held-to-maturity investments, available-for-sale investments, and accounts receivable. All of the Company’s cash and cash equivalents and investments are invested in money market funds, United States (U.S.) Treasury securities, commercial paper, corporate debt securities, or U.S. Government agency securities that management believes to be of high credit quality. |
Interest Income | Interest Income Interest income consists of income earned on our cash and cash equivalents and interest earned on our short-term investments which consist of U.S. Treasury securities, commercial paper, corporate debt securities, and U.S. Government agency securities. |
Other Income, Net | Other Income, Net Other income, net primarily consists of accretion income on our held-to-maturity and available-for-sale investments, foreign currency transaction gains and losses, and sublease income related to our San Francisco lease, which expired in the fiscal year ended January 31, 2019. |
Foreign Currency Remeasurement | Foreign Currency Remeasurement |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand, highly liquid investments with original maturities of three months or less from the date of purchase, and money market funds. |
Investments | Investments The Company’s investments are classified as available-for-sale and held-to-maturity and consist of highly liquid investments, primarily U.S. Treasury securities, commercial paper, corporate debt securities, and U.S. Government agency securities. The Company determines the appropriate classification of its investments at the time of purchase and reevaluates such designation at each balance sheet date. The Company periodically evaluates its short-term investments to assess whether those with unrealized loss positions are other-than-temporarily impaired. The Company considers various factors in determining whether to recognize an impairment charge, including the length of time the investment has been in a loss position, the extent to which the fair value is less than the Company’s cost basis, and the financial condition and near-term prospects of the investee. If the Company determines that the decline in an investment’s fair value is other-than-temporary, an impairment loss is recognized in earnings equal to the difference between the investment’s amortized cost and fair value at such date. Realized gains and losses are reported in other income, net, in the consolidated statements of operations. No impairment charges have been recognized to date. Held-to-maturity The Company’s held-to-maturity investments consist of investments with maturities over three months from the date of purchase and less than 12 months from the date of the balance sheet and are classified as short-term. The Company has the ability and positive intent to hold these investments to maturity. Held-to-maturity investments are carried at amortized cost, which approximates fair value. Available-for-sale The Company classifies its available-for-sale investments, including those with stated maturities beyond twelve months, as short-term based on their highly liquid nature and because they represent the investment of cash that is available for current operations. In addition, the Company may sell these investments at any time for use in its current operations or for other purposes, even prior to maturity. The Company's available-for-sale investments are recorded at fair market value each reporting period. Unrealized gains and losses on these available-for-sale investments are reported as a separate component of accumulated other comprehensive income in the accompanying consolidated balance sheet until realized. |
Restricted Cash | Restricted Cash |
Deferred Offering Costs | Deferred Offering Costs Prior to the IPO, all deferred offering costs were capitalized in other noncurrent assets in the consolidated balance sheets. Deferred offering costs of $6.4 million |
Property and Equipment, Net | Property and Equipment, Net Property and equipment, net, are stated at cost less accumulated depreciation. Depreciation is recorded using the straight-line method over the estimated useful lives of the respective assets, which is generally three to five years . Leasehold improvements are depreciated over the shorter of the estimated useful lives of the assets or the lease term. Property and equipment is reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of these assets is measured by a comparison of the carrying amounts to the future undiscounted cash flows the assets are expected to generate. If property and equipment are considered impaired, the impairment to be recognized equals the amount by which the carrying value of the asset exceeds its fair value. If we reduce the estimated useful life assumption for any asset, the remaining unamortized balance would be amortized or depreciated over the revised estimated useful life. |
Research and Development Expense | Research and Development Expense Research and development expenses consist primarily of personnel costs for the Company’s engineering, product, and design teams. Additionally, research and development expenses include contractor fees, depreciation of equipment used in research and development activities, and allocated overhead costs. Research and development costs are expensed as incurred. |
Internal-Use Software Costs | Internal-Use Software Costs The Company evaluates costs related to the development of its platform and certain projects for internal use incurred during the application development stage. Costs related to preliminary project activities and post-implementation activities are expensed as incurred and costs related to the application development stage are capitalized. Internal-use software is amortized on a straight-line basis over its estimated useful life of three years |
Advertising Costs | Advertising Costs |
Stock-Based Compensation | Stock-Based Compensation The Company recognizes compensation expense for all stock-based payment awards, including stock options and restricted stock units (RSUs), based on the estimated fair value of the award on the grant date. The Company estimates the fair value of stock options issued to employees on the date of grant using the Black-Scholes option pricing model, which is impacted by the estimated fair value of the Company’s common stock, as well as certain assumptions including the expected volatility over the term of the option awards, the expected term of the awards, risk-free interest rates and the expected dividend yield. Assumptions and estimates used in the determination of the fair value of stock options are as follows: Expected volatility —Expected volatility is a measure of the amount by which the stock price is expected to fluctuate. Since the Company does not have sufficient trading history for its common stock, it estimates the expected volatility of its stock options by taking the average historical volatility of a group of comparable publicly traded companies over a period equal to the expected life of the options. Expected term —The Company determines the expected term based on the average period the stock options are expected to remain outstanding, generally calculated as the midpoint of the stock options’ vesting term and contractual expiration period, as the Company does not have sufficient historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior. Risk-free rate —The Company uses the U.S. Treasury yield for its risk-free interest rate that corresponds with the expected term. Expected dividend yield —The Company utilizes a dividend yield of zero , as it does not currently issue dividends and does not expect to in the future. Fair value of common stock Prior to the IPO, in accordance with the American Institute of Certified Public Accountants Accounting and Valuation Guide, Valuation of Privately-Held Company Equity Securities Issued as Compensation , the Company’s board of directors exercised reasonable judgment and considered numerous objective and subjective factors to determine the best estimate of fair value of the Company’s common stock, including but not limited to contemporaneous valuations of our common stock performed by independent third-party specialists; the prices, rights, preferences, and privileges of redeemable convertible preferred stock relative to those of common stock; the prices at which the Company sold shares of its common stock to third-party investors and in secondary transactions in arm’s-length transactions; the Company’s operating and financial performance; and additional relevant economic information. The Company estimates the fair value of RSUs at our stock price on the grant date. The Company estimates the fair value of shares to be issued under the ESPP on the first day of the offering period using the Black-Scholes valuation model, which is impacted by the estimated fair value of the Company’s common stock, as well as certain assumptions including the expected volatility over the term of the offering period, the expected term of the awards, risk-free interest rates and the expected dividend yield. Assumptions used in the determination of the fair value of the ESPP are the same as those used in the determination of the fair value of our stock options. The Company recognizes compensation expense for employee stock-based payment awards on a straight-line basis over the period during which an award recipient is required to provide services in exchange for the award (generally the vesting period of the award). The Company accounts for forfeitures as they occur. The fair value of each non-employee stock option is estimated at the date of grant using the Black-Scholes option pricing model and is not remeasured over the vesting term. Assumptions used in valuing non-employee stock options are generally consistent with those used for employee stock options with the exception that the expected term is over the contractual life. |
Income Taxes | Income Taxes The Company accounts for income taxes using the asset and liability method. Under this method, the Company recognizes deferred income tax assets and liabilities for the expected future consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, as well as for net operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the tax rates that are expected to apply to taxable income for the years in which those tax assets and liabilities are expected to be realized or settled. The Company recognizes the deferred income tax effects of a change in tax rates in the period of enactment. The Company records a valuation allowance to reduce its deferred tax assets to the net amount that it believes is more likely than not to be realized. The Company considers all available evidence, both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable income and ongoing tax planning strategies in assessing the need for a valuation allowance. Realization of its deferred tax assets is dependent primarily upon future U.S. taxable income. The Company recognizes income tax benefits from uncertain tax positions only if it believes that it is more likely than not that the tax position will be sustained upon examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such uncertain tax positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. Although the Company believes that it has adequately reserved for its uncertain tax positions (including net interest and penalties), it can provide no assurance that the final tax outcome of these matters will not be materially different. The Company makes adjustments to these reserves when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate. To the extent that the final tax outcome of these matters is different from the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made and could have a material impact on its financial position, results of operations, and cash flows. |
Net Loss Per Common Share | Net Loss Per Common Share Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period giving effect to all potentially dilutive securities to the extent they are dilutive. The dilutive effect of potentially dilutive securities is reflected in diluted net loss per share by application of the treasury stock method. Basic and diluted net loss per common share were the same for each period presented as the inclusion of all potential common shares outstanding would have been anti-dilutive. |
Recently Adopted/Issued Accounting Pronouncements | Recently Adopted Accounting Pronouncements In July 2018, the FASB issued Accounting Standards Update No. 2018-09, Codification Improvements ( ASU 2018-09) . These amendments provide clarifications and corrections to certain ASC subtopics including the following: 220-10 (Income Statement - Reporting Comprehensive Income - Overall), 470-50 (Debt - Modifications and Extinguishments), 480-10 (Distinguishing Liabilities from Equity - Overall), 718-740 (Compensation - Stock Compensation - Income Taxes), 805-740 (Business Combinations - Income Taxes), 815-10 (Derivatives and Hedging - Overall), and 820-10 (Fair Value Measurement - Overall). Some of the amendments in ASU 2018-09 do not require transition guidance and will be effective upon issuance; however, many of the amendments do have transition guidance with effective dates for annual periods beginning after December 15, 2019. The amendments that were effective upon issuance of the update did not have an impact on the Company’s consolidated financial statements. The Company early adopted this ASU beginning February 1, 2019 noting that the adoption of the standard had no material impact on its consolidated financial statements. Recently Issued Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) (ASU 2016-02) , which would require lessees to recognize most leases on their balance sheets, whether operating or financing, while continuing to recognize the expenses on their income statements in a manner similar to current practice. The guidance states that a lessee would recognize a lease liability for the obligation to make lease payments and a right-to-use asset for the right to use the underlying asset for the lease term. The Company plans to adopt this guidance as of February 1, 2020 using the modified retrospective method and will recognize a cumulative-effect adjustment to the opening balance of accumulated deficit as of the adoption date. The Company will elect the optional transition approach to not apply Topic 842 in the comparative periods presented and the package of practical expedients. We have completed our process to identify our population of lease arrangements and completed our evaluation of each arrangement under the guidance, including application of elected practical expedients , and we are finalizing the incremental borrowing rate for each arrangement. While the adoption remains in progress, we expect that the adoption will result in the recognition of right-of-use assets and lease liabilities that were not previously recognized, which will increase total assets and liabilities on our consolidated balance sheets. The Company does not expect the adoption of Topic 842 to have a material impact to the consolidated statements of operations or to have any impact on its cash flows from operating, investing, or financing activities. In June 2016, the FASB issued Accounting Standards Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments (ASU 2016-13), which requires an entity to utilize a new impairment model known as the current expected credit loss (CECL) model to estimate its lifetime “expected credit loss” and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in more timely recognition of credit losses. This guidance also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The Company expects to adopt this guidance as of February 1, 2020. The Company has evaluated the impact of the adoption of this standard and does not expect adoption of Topic 326 to have a material impact to the consolidated financial statements. |
Fair Value Measurements | The Company measures its financial assets and liabilities at fair value each reporting period using a fair value hierarchy that prioritizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Three levels of inputs may be used to measure fair value, as follows: Level 1—Valuations based on observable inputs that reflect quoted prices for identical assets or liabilities in active markets. Level 2—Valuations based on inputs that are directly or indirectly observable in the marketplace. Level 3—Valuations based on unobservable inputs that are supported by little or no market activity. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Accounting Policies [Abstract] | |
Activity Related to Allowance for Doubtful Accounts | Activity related to the Company’s allowance for doubtful accounts was as follows: Amount (in thousands) Balance as of January 31, 2018 $ 1,296 Charged to bad debt expense 1,440 Write-offs, net of recoveries (376 ) Balance as of January 31, 2019 $ 2,360 Charged to bad debt expense 11 Write-offs, net of recoveries (1,561 ) Balance as of January 31, 2020 $ 810 |
Rollforward of Deferred Contract Costs | The following table represents a rollforward of the Company’s deferred contract costs: Amount (in thousands) Balance as of January 31, 2018 $ 8,158 Additions to deferred contract costs 13,809 Amortization of deferred contract costs (4,495 ) Balance as of January 31, 2019 $ 17,472 Additions to deferred contract costs 15,996 Amortization of deferred contract costs (7,780 ) Balance as of January 31, 2020 $ 25,688 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Components of Cash and Cash Equivalents | Cash, cash equivalents, and investments consisted of the following: As of January 31, 2020 2019 (in thousands) Cash and cash equivalents Cash $ 2,131 $ 125,852 Money market funds 118,899 2,023 U.S. Treasury securities 2,994 — Total cash and cash equivalents $ 124,024 $ 127,875 Available-for-sale investments: U.S. Treasury securities $ 24,987 $ — Commercial paper 20,132 — Corporate debt securities 149,248 — U.S. Government agency securities 4,973 — Total available-for-sale investments $ 199,340 $ — Held-to-maturity investments: U.S. Treasury securities $ 9,016 $ — Commercial paper 5,985 — Corporate debt securities 13,034 — Total held-to-maturities investments $ 28,035 $ — Total investments $ 227,375 $ — |
Components of Available-for-sale Investments | Cash, cash equivalents, and investments consisted of the following: As of January 31, 2020 2019 (in thousands) Cash and cash equivalents Cash $ 2,131 $ 125,852 Money market funds 118,899 2,023 U.S. Treasury securities 2,994 — Total cash and cash equivalents $ 124,024 $ 127,875 Available-for-sale investments: U.S. Treasury securities $ 24,987 $ — Commercial paper 20,132 — Corporate debt securities 149,248 — U.S. Government agency securities 4,973 — Total available-for-sale investments $ 199,340 $ — Held-to-maturity investments: U.S. Treasury securities $ 9,016 $ — Commercial paper 5,985 — Corporate debt securities 13,034 — Total held-to-maturities investments $ 28,035 $ — Total investments $ 227,375 $ — |
Components of Held-to-maturity Investments | Cash, cash equivalents, and investments consisted of the following: As of January 31, 2020 2019 (in thousands) Cash and cash equivalents Cash $ 2,131 $ 125,852 Money market funds 118,899 2,023 U.S. Treasury securities 2,994 — Total cash and cash equivalents $ 124,024 $ 127,875 Available-for-sale investments: U.S. Treasury securities $ 24,987 $ — Commercial paper 20,132 — Corporate debt securities 149,248 — U.S. Government agency securities 4,973 — Total available-for-sale investments $ 199,340 $ — Held-to-maturity investments: U.S. Treasury securities $ 9,016 $ — Commercial paper 5,985 — Corporate debt securities 13,034 — Total held-to-maturities investments $ 28,035 $ — Total investments $ 227,375 $ — The following table summarizes the Company’s investments’ adjusted cost, net unrealized gains, and fair value by significant investment category as of January 31, 2020 . Gross realized gains or losses from sales of available-for-sale securities were not material for the fiscal year ended January 31, 2020 . Adjusted Cost Unrealized Gain, Net Fair value (in thousands) Available-for-sale investments: U.S. Treasury securities $ 24,978 $ 9 $ 24,987 Commercial paper 20,128 4 20,132 Corporate debt securities 149,124 124 149,248 U.S. Government agency securities 4,973 — 4,973 Total available-for-sale investments $ 199,203 $ 137 $ 199,340 Held-to-maturity investments: U.S. Treasury securities 9,016 — 9,016 Commercial paper 5,985 — 5,985 Corporate debt securities 13,034 — 13,034 Total held-to-maturities investments 28,035 — 28,035 Total investments $ 227,238 $ 137 $ 227,375 |
Summary of Carrying Value of Available-for-sale Investments | The following table summarizes the Company’s investments’ adjusted cost, net unrealized gains, and fair value by significant investment category as of January 31, 2020 . Gross realized gains or losses from sales of available-for-sale securities were not material for the fiscal year ended January 31, 2020 . Adjusted Cost Unrealized Gain, Net Fair value (in thousands) Available-for-sale investments: U.S. Treasury securities $ 24,978 $ 9 $ 24,987 Commercial paper 20,128 4 20,132 Corporate debt securities 149,124 124 149,248 U.S. Government agency securities 4,973 — 4,973 Total available-for-sale investments $ 199,203 $ 137 $ 199,340 Held-to-maturity investments: U.S. Treasury securities 9,016 — 9,016 Commercial paper 5,985 — 5,985 Corporate debt securities 13,034 — 13,034 Total held-to-maturities investments 28,035 — 28,035 Total investments $ 227,238 $ 137 $ 227,375 |
Summary of Contractual Maturities of Available-for-sale Securities | The following table presents the Company’s available-for-sale securities by contractual maturity date as of January 31, 2020 : Adjusted Cost Fair Value (in thousands) Due within one year $ 128,127 $ 128,169 Due between one to five years 71,076 71,171 $ 199,203 $ 199,340 |
Components of Property and Equipment, Net | Property and equipment, net consisted of the following: As of January 31, 2020 2019 (in thousands) Leasehold improvements $ 12,257 $ 6,512 Computers and equipment 4,431 2,998 Furniture and fixtures 2,540 1,239 Capitalized internal-use software 389 389 Gross property and equipment (1) $ 19,617 $ 11,138 Accumulated depreciation and amortization (7,248 ) (5,366 ) Property and equipment, net $ 12,369 $ 5,772 (1) Gross property and equipment includes construction-in-progress for leasehold improvements and furniture and fixtures of $5.1 million and $0.2 million that had not yet been placed in service as of January 31, 2020 and January 31, 2019 , respectively. The costs associated with construction-in-progress are not amortized until placed in service. |
Components of Other Assets | Other assets consisted of the following: As of January 31, 2020 2019 (in thousands) Restricted cash $ — $ 2,448 Deferred offering costs — 3,261 Capitalized implementation costs 358 286 Other 1,293 1,160 Other assets $ 1,651 $ 7,155 |
Components of Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities consisted of the following: As of January 31, 2020 2019 (in thousands) Accrued professional fees $ 1,436 $ 3,037 Accrued events 300 400 Deferred rent 790 268 Accrued hosting and infrastructure 689 47 Early exercise liability 509 1,827 Accrued taxes 961 255 Accrued liabilities, other 2,512 1,311 Accrued expenses and other liabilities $ 7,197 $ 7,145 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Summary of Information about Company's Financial Assets | The following table presents information about the Company’s financial assets that are required to be measured or disclosed at fair value using the above input categories: As of January 31, 2020 Level 1 Level 2 Level 3 Total (in thousands) Money market funds $ 118,899 $ — $ — $ 118,899 U.S. Treasury securities 2,994 34,003 — 36,997 Commercial paper — 26,117 — 26,117 Corporate debt securities — 162,282 — 162,282 U.S. Government agency securities — 4,973 — 4,973 Total $ 121,893 $ 227,375 $ — $ 349,268 Included in cash equivalents $ 121,893 Included in investments $ 227,375 As of January 31, 2019 Level 1 Level 2 Level 3 Total (in thousands) Money market funds $ 4,417 $ — $ — $ 4,417 Total $ 4,417 $ — $ — $ 4,417 Included in cash equivalents $ 2,023 Included in other assets $ 2,394 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Lease Payments By Fiscal Year Excluding Sublease Income | As of January 31, 2020 , the future minimum lease payments by fiscal year excluding sublease income under non-cancellable operating leases are as follows: Minimum Lease Payments (in thousands) 2021 $ 6,196 2022 6,419 2023 6,499 2024 6,680 2025 6,879 Thereafter 8,955 Total $ 41,628 |
Deferred Revenue and Performa_2
Deferred Revenue and Performance Obligations (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Summary of Deferred Revenue | The following table presents the changes to the Company’s deferred revenue: Year Ended January 31, 2020 2019 2018 (in thousands) Deferred revenue, beginning of period $ 64,104 $ 38,169 $ 22,973 Billings 194,816 143,758 94,826 Revenue recognized (166,351 ) (117,823 ) (79,630 ) Deferred revenue, end of period $ 92,569 $ 64,104 $ 38,169 |
Common Stock and Stockholders_2
Common Stock and Stockholders' Equity (Deficit) (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Equity [Abstract] | |
Summary of Shares of Common Stock Reserved for Future Issuance | Shares of common stock reserved for future issuance are as follows: January 31, 2020 Outstanding stock options and unvested RSUs outstanding 15,612,956 Available for future stock option and RSU grants 11,841,156 Available for ESPP 1,639,225 Total common stock reserved at January 31, 2020 29,093,337 |
Schedule of Stock Option Activity | Stock option activity is as follows: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) Outstanding at January 31, 2019 14,006,222 $ 4.32 8.2 years $ 142,840 Granted 3,907,534 $ 16.15 Exercised (2,527,533 ) $ 2.76 Canceled (888,178 ) $ 11.32 Outstanding at January 31, 2020 14,498,045 $ 7.37 7.8 years $ 231,300 Vested as of January 31, 2020 6,973,210 $ 3.66 7.0 years $ 137,060 |
Schedule of Assumptions Used to Calculate Fair Value of Employee Stock Option Grants Made | The following assumptions were used to calculate the fair value of employee stock option grants made during the periods: Year Ended January 31, 2020 2019 2018 Expected dividend yield — — — Expected volatility 41.7% - 42.8% 40.1% - 43.2% 40.3% - 46.7% Expected term (years) 5.5 - 6.9 5.4 - 6.8 5.5 - 6.3 Risk-free interest rate 1.39% - 2.48% 2.53% - 3.04% 1.85% - 2.57% |
Schedule of Restricted Stock Unit Activity | A summary of the Company’s RSU activity and related information is as follow: Number of RSUs Weighted Average Grant Date Fair Value Per Share Outstanding at January 31, 2019 — $ — Granted 1,153,504 $ 28.20 Vested, net of shares withheld for employee payroll taxes (1,293 ) $ 32.48 Canceled (37,300 ) $ 30.63 Outstanding at January 31, 2020 1,114,911 $ 28.10 |
Schedule of Assumptions Used to Calculate Fair Value of Shares to be Granted Under the ESPP | The following assumptions were used to calculate the fair value of shares to be granted under the ESPP during the period: Year Ended January 31, 2020 Expected dividend yield — Expected volatility 39.2% - 48.4% Expected term (years) 0.5 - 2.1 Risk-free interest rate 1.53% - 2.43% |
Schedule of Stock-based Compensation Expense | Stock-based compensation expense included in the Company’s consolidated statements of operations is as follows: Year Ended January 31, 2020 2019 2018 (in thousands) Cost of revenue $ 1,018 $ 282 $ 385 Research and development 5,566 8,171 9,796 Sales and marketing 8,924 3,982 3,831 General and administrative (1) 11,697 12,860 4,140 Total $ 27,205 $ 25,295 $ 18,152 (1) Stock-based compensation expense above includes $6.2 million of non-cash charitable contribution expense in the fiscal year ended January 31, 2019. |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Earnings Per Share [Abstract] | |
Calculation of Basic and Diluted Net Loss Per Share | The following table presents the calculation of basic and diluted net loss per share: Year Ended January 31, 2020 2019 2018 (in thousands, except per share data) Numerator: Net loss $ (50,339 ) $ (40,741 ) (38,149 ) Denominator: Weighted average shares used in calculating net loss per share, basic and diluted 65,544 21,410 19,986 Net loss per share, basic and diluted $ (0.77 ) $ (1.90 ) $ (1.91 ) |
Schedule of Anti-dilutive Securities That Were Not Included in Diluted Per Share Calculations | Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows: As of January 31, 2020 2019 2018 (in thousands) Redeemable convertible preferred stock — 41,273 36,001 Shares subject to outstanding common stock awards 15,613 14,006 11,316 Unvested early exercised stock options 76 339 246 Warrants to purchase common stock — 750 204 Early exercised stock options in exchange for note receivable — 250 250 Restricted stock awards purchased with promissory notes 180 510 664 Shares issuable pursuant to the 2019 Employee Stock Purchase Plan 67 — — Total 15,936 57,128 48,681 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Components of Income (Loss) Before Income Taxes | The components of income (loss) before income taxes are as follows: Year Ended January 31, 2020 2019 2018 (in thousands) Domestic $ (53,485 ) $ (39,863 ) $ (37,396 ) Foreign 3,821 (177 ) (569 ) Loss before provision for income taxes $ (49,664 ) $ (40,040 ) $ (37,965 ) |
Components of Provision for Income Taxes | The components of the provision for income taxes are as follows: Year Ended January 31, 2020 2019 2018 (in thousands) Current Federal $ — $ — $ — State 126 26 15 Foreign 25 135 123 Total current tax expense $ 151 $ 161 $ 138 Deferred Federal $ — $ (3 ) $ 9 State (1 ) — 1 Foreign 525 543 36 Total deferred tax expense $ 524 $ 540 $ 46 Provision for income taxes $ 675 $ 701 $ 184 |
Reconciliation of Provision for Income Taxes | A reconciliation of the Company’s recorded provision for income taxes to the amount of taxes computed at the U.S. statutory rate is as follows: Year Ended January 31, 2020 2019 2018 (in thousands) Income taxes computed at U.S. federal statutory rate $ (10,429 ) $ (8,408 ) $ (12,489 ) State taxes, net of federal benefit (4,901 ) (1,326 ) (1,400 ) Permanent differences 308 220 34 Stock-based compensation (3,739 ) 1,077 4,569 Foreign rate differential (239 ) 34 10 Uncertain tax positions (14 ) 680 336 Tax Act — — 8,184 Tax credits (3,271 ) — — Change in valuation allowance 25,390 8,085 929 Charitable contributions (1,960 ) — — Other (470 ) 339 11 Provision for income taxes $ 675 $ 701 $ 184 |
Significant Components of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities are as follows: As of January 31, 2020 2019 (in thousands) Deferred tax assets: Net operating losses $ 36,412 $ 21,886 Allowances and accruals 2,437 2,322 Stock-based compensation 5,523 2,171 Charitable contributions 3,989 1,626 Tax credits 5,349 — Other 2,075 665 Gross deferred tax assets $ 55,785 $ 28,670 Less: valuation allowance (50,086 ) (24,695 ) Net deferred tax assets $ 5,699 $ 3,975 Deferred tax liabilities: Deferred commissions $ (6,519 ) $ (4,474 ) Other (256 ) (54 ) Gross deferred tax liabilities $ (6,775 ) $ (4,528 ) Net deferred tax liabilities $ (1,076 ) $ (553 ) |
Summary of Activity Related to Unrecognized Tax Benefits | The following table summarizes the activity related to the Company’s unrecognized tax benefits: Year Ended January 31, 2020 2019 2018 (in thousands) Balance at beginning of period $ 6,644 $ 4,385 $ 2,400 Additions related to prior years 71 — — Reductions related to prior years (3,515 ) (19 ) — Additions related to current year 843 2,278 1,985 Balance at end of period $ 4,043 $ 6,644 $ 4,385 |
Geographic Information (Tables)
Geographic Information (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Segment Reporting [Abstract] | |
Disaggregation of Revenue By Geographic Location | Revenue by location is determined by the billing address of the customer. The following table sets forth revenue by geographic area: Year Ended January 31, 2020 2019 2018 (in thousands) United States $ 129,728 $ 94,345 $ 64,404 International 36,623 23,478 15,226 Total $ 166,351 $ 117,823 $ 79,630 |
Description of Business and B_2
Description of Business and Basis of Presentation (Details) $ / shares in Units, $ in Thousands | Apr. 15, 2019USD ($)$ / sharesshares | Apr. 14, 2019shares | May 31, 2018 | Jan. 31, 2020USD ($)shares | Jan. 31, 2019USD ($) | Jan. 31, 2018USD ($) |
Subsidiary, Sale of Stock [Line Items] | ||||||
Payments of other offering costs | $ 6,400 | $ 5,945 | $ 445 | $ 0 | ||
Redeemable convertible preferred stock | ||||||
Subsidiary, Sale of Stock [Line Items] | ||||||
Stock split, conversion ratio | 2 | |||||
Common stock | ||||||
Subsidiary, Sale of Stock [Line Items] | ||||||
Number of shares as a result of conversion (in shares) | shares | 41,273,345 | 41,273,345 | ||||
Stock split, conversion ratio | 2 | |||||
IPO | ||||||
Subsidiary, Sale of Stock [Line Items] | ||||||
Number of shares issued and sold (in shares) | shares | 9,860,500 | |||||
Public offering price (in dollars per share) | $ / shares | $ 24 | |||||
Proceeds from sale of stock | $ 213,700 | |||||
Payments of underwriters' commissions and discounts | 16,600 | |||||
Payments of other offering costs | $ 6,400 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) | Apr. 15, 2019USD ($) | Jan. 31, 2020USD ($)segment | Jan. 31, 2019USD ($) | Jan. 31, 2018USD ($) |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Number of operating segments | segment | 1 | |||
Payment terms, period post invoice date | 30 days | |||
Amortization period for sales commissions for initial contracts that are deferred | 4 years | |||
Deferred contract costs | $ 25,688,000 | $ 17,472,000 | $ 8,158,000 | |
Amortization of deferred contract costs | 7,780,000 | 4,495,000 | 2,543,000 | |
Impairment loss in relation to costs capitalized | 0 | 0 | 0 | |
Restricted cash - included in other assets | 0 | 2,448,000 | 2,452,000 | |
Revenue from sale of product to related parties | 1,000,000 | |||
Payments of offering costs | $ 6,400,000 | 5,945,000 | 445,000 | 0 |
Deferred offering costs | 0 | 3,261,000 | ||
Capitalized internal-use software costs | 0 | 400,000 | ||
Advertising costs | $ 5,100,000 | 5,100,000 | 5,100,000 | |
Expected dividend yield | 0.00% | |||
Understated (overstated) revenue | $ 166,351,000 | 117,823,000 | 79,630,000 | |
United States | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Understated (overstated) revenue | 129,728,000 | 94,345,000 | 64,404,000 | |
International | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Understated (overstated) revenue | $ 36,623,000 | 23,478,000 | $ 15,226,000 | |
Restatement Adjustment | United States | Immaterial Correction of Error | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Understated (overstated) revenue | 3,600,000 | |||
Restatement Adjustment | International | Immaterial Correction of Error | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Understated (overstated) revenue | $ (3,600,000) | |||
Internal-Use Software Costs | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful lives of respective property and equipment assets | 3 years | |||
Minimum | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful lives of respective property and equipment assets | 3 years | |||
Maximum | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Estimated useful lives of respective property and equipment assets | 5 years | |||
Top Customer | Customer Concentration Risk | Accounts Receivable | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Concentration risk, percentage | 10.00% |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Activity Related to Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2020 | Jan. 31, 2019 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||
Balance as of beginning of period | $ 2,360 | $ 1,296 |
Charged to bad debt expense | 11 | 1,440 |
Write-offs, net of recoveries | (1,561) | (376) |
Balance as of end of period | $ 810 | $ 2,360 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Rollforward of Deferred Contract Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Increase (Decrease) in Capitalized Contract Costs [Roll Forward] | |||
Balance as of beginning of period | $ 17,472 | $ 8,158 | |
Additions to deferred contract costs | 15,996 | 13,809 | |
Amortization of deferred contract costs | (7,780) | (4,495) | $ (2,543) |
Balance as of end of period | $ 25,688 | $ 17,472 | $ 8,158 |
Balance Sheet Components - Comp
Balance Sheet Components - Components of Cash and Cash Equivalents and Investments (Details) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 |
Cash and cash equivalents | |||
Cash | $ 2,131 | $ 125,852 | |
Money market funds | 118,899 | 2,023 | |
U.S. Treasury securities | 2,994 | 0 | |
Total cash and cash equivalents | 124,024 | 127,875 | $ 43,999 |
Debt Securities, Available-for-sale [Line Items] | |||
Total available-for-sale investments | 199,340 | 0 | |
Schedule of Held-to-maturity Securities [Line Items] | |||
Total held-to-maturities investments | 28,035 | 0 | |
Total investments | 227,375 | 0 | |
U.S. Treasury securities | |||
Debt Securities, Available-for-sale [Line Items] | |||
Total available-for-sale investments | 24,987 | 0 | |
Schedule of Held-to-maturity Securities [Line Items] | |||
Total held-to-maturities investments | 9,016 | 0 | |
Commercial paper | |||
Debt Securities, Available-for-sale [Line Items] | |||
Total available-for-sale investments | 20,132 | 0 | |
Schedule of Held-to-maturity Securities [Line Items] | |||
Total held-to-maturities investments | 5,985 | 0 | |
Corporate debt securities | |||
Debt Securities, Available-for-sale [Line Items] | |||
Total available-for-sale investments | 149,248 | 0 | |
Schedule of Held-to-maturity Securities [Line Items] | |||
Total held-to-maturities investments | 13,034 | 0 | |
U.S. Government agency securities | |||
Debt Securities, Available-for-sale [Line Items] | |||
Total available-for-sale investments | $ 4,973 | $ 0 |
Balance Sheet Components - Carr
Balance Sheet Components - Carrying Value of Investments (Details) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale investments, Adjusted Cost | $ 199,203 | |
Available-for-sale investments, Unrealized Gain, Net | 137 | |
Available-for-sale investments, Fair value | 199,340 | |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity investments, Adjusted Cost | 28,035 | |
Held-to-maturity investments, Unrealized Gain, Net | 0 | |
Held-to-maturity investments, Fair value | 28,035 | |
Investments, Adjusted Cost | 227,238 | |
Investments, Unrealized Gain, Net | 137 | |
Total investments | 227,375 | $ 0 |
U.S. Treasury securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale investments, Adjusted Cost | 24,978 | |
Available-for-sale investments, Unrealized Gain, Net | 9 | |
Available-for-sale investments, Fair value | 24,987 | |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity investments, Adjusted Cost | 9,016 | |
Held-to-maturity investments, Unrealized Gain, Net | 0 | |
Held-to-maturity investments, Fair value | 9,016 | |
Commercial paper | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale investments, Adjusted Cost | 20,128 | |
Available-for-sale investments, Unrealized Gain, Net | 4 | |
Available-for-sale investments, Fair value | 20,132 | |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity investments, Adjusted Cost | 5,985 | |
Held-to-maturity investments, Unrealized Gain, Net | 0 | |
Held-to-maturity investments, Fair value | 5,985 | |
Corporate debt securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale investments, Adjusted Cost | 149,124 | |
Available-for-sale investments, Unrealized Gain, Net | 124 | |
Available-for-sale investments, Fair value | 149,248 | |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity investments, Adjusted Cost | 13,034 | |
Held-to-maturity investments, Unrealized Gain, Net | 0 | |
Held-to-maturity investments, Fair value | 13,034 | |
U.S. Government agency securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Available-for-sale investments, Adjusted Cost | 4,973 | |
Available-for-sale investments, Unrealized Gain, Net | 0 | |
Available-for-sale investments, Fair value | $ 4,973 |
Balance Sheet Components - Cont
Balance Sheet Components - Contractual Maturity (Details) $ in Thousands | Jan. 31, 2020USD ($) |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Adjusted Cost, Due within one year | $ 128,127 |
Adjusted Cost, due between one to five years | 71,076 |
Available-for-sale investments, Adjusted Cost | 199,203 |
Fair Value, due within one year, fair value | 128,169 |
Fair Value, due between one to five years, fair value | 71,171 |
Available-for-sale securities, fair value | $ 199,340 |
Balance Sheet Components - Addi
Balance Sheet Components - Additional Information (Details) | 12 Months Ended | ||
Jan. 31, 2020USD ($)security | Jan. 31, 2019USD ($) | Jan. 31, 2018USD ($) | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Securities in a continuous net loss position for 12 months or longer | security | 0 | ||
Securities in an unrealized loss position | security | 21 | ||
Impairment loss recorded | $ | $ 0 | ||
Depreciation and amortization | $ | $ 2,200,000 | $ 1,700,000 | $ 1,300,000 |
Balance Sheet Components - Prop
Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Property, Plant and Equipment [Line Items] | ||
Gross property and equipment | $ 19,617 | $ 11,138 |
Accumulated depreciation and amortization | (7,248) | (5,366) |
Property and equipment, net | 12,369 | 5,772 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Gross property and equipment | 12,257 | 6,512 |
Computers and equipment | ||
Property, Plant and Equipment [Line Items] | ||
Gross property and equipment | 4,431 | 2,998 |
Furniture and fixtures | ||
Property, Plant and Equipment [Line Items] | ||
Gross property and equipment | 2,540 | 1,239 |
Capitalized internal-use software | ||
Property, Plant and Equipment [Line Items] | ||
Gross property and equipment | 389 | 389 |
Construction-in-progress | ||
Property, Plant and Equipment [Line Items] | ||
Gross property and equipment | $ 5,100 | $ 200 |
Balance Sheet Components - Co_2
Balance Sheet Components - Components of Other Assets (Details) - USD ($) | Jan. 31, 2020 | Jan. 31, 2019 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Restricted cash | $ 0 | $ 2,448,000 |
Deferred offering costs | 0 | 3,261,000 |
Capitalized implementation costs | 358,000 | 286,000 |
Other | 1,293,000 | 1,160,000 |
Other assets | $ 1,651,000 | $ 7,155,000 |
Balance Sheet Components Balanc
Balance Sheet Components Balance Sheet Components - Components of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accrued professional fees | $ 1,436 | $ 3,037 |
Accrued events | 300 | 400 |
Deferred rent | 790 | 268 |
Accrued hosting and infrastructure | 689 | 47 |
Early exercise liability | 509 | 1,827 |
Accrued taxes | 961 | 255 |
Accrued liabilities, other | 2,512 | 1,311 |
Accrued expenses and other liabilities | $ 7,197 | $ 7,145 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - Recurring - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | $ 121,893 | $ 2,023 |
Investments | 227,375 | |
Total | 349,268 | 4,417 |
Other assets | 2,394 | |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 121,893 | 4,417 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 227,375 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 0 | 0 |
U.S. Treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 36,997 | |
U.S. Treasury securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 2,994 | |
U.S. Treasury securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 34,003 | |
U.S. Treasury securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 0 | |
Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 26,117 | |
Commercial paper | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 0 | |
Commercial paper | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 26,117 | |
Commercial paper | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 0 | |
Corporate debt securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 162,282 | |
Corporate debt securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 0 | |
Corporate debt securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 162,282 | |
Corporate debt securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 0 | |
U.S. Government agency securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 4,973 | |
U.S. Government agency securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 0 | |
U.S. Government agency securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 4,973 | |
U.S. Government agency securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments | 0 | |
Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | 118,899 | 4,417 |
Money market funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | 118,899 | 4,417 |
Money market funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | 0 | 0 |
Money market funds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | $ 0 | $ 0 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | Jul. 31, 2019 | |
Operating Leased Assets [Line Items] | ||||
Sublease income | $ 1,100 | $ 1,400 | ||
Deferred rent | $ 6,800 | 3,700 | ||
Rent expense | 6,500 | 4,600 | $ 3,900 | |
Future minimum lease payments | 41,628 | |||
Non-cancellable purchase commitments with certain service providers | $ 27,400 | |||
Non-cancellable purchase commitments, payable period | 3 years | |||
Atlanta, Georgia | ||||
Operating Leased Assets [Line Items] | ||||
Future minimum lease payments | $ 14,400 | |||
Accrued expenses and other current liabilities | ||||
Operating Leased Assets [Line Items] | ||||
Deferred rent | $ 800 | 300 | ||
Other liabilities | ||||
Operating Leased Assets [Line Items] | ||||
Deferred rent | $ 6,000 | $ 3,400 |
Commitments and Contingencies_2
Commitments and Contingencies - Future Minimum Rental Payments (Details) $ in Thousands | Jan. 31, 2020USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2021 | $ 6,196 |
2022 | 6,419 |
2023 | 6,499 |
2024 | 6,680 |
2025 | 6,879 |
Thereafter | 8,955 |
Total | $ 41,628 |
Deferred Revenue and Performa_3
Deferred Revenue and Performance Obligations - Deferred Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Increase (Decrease) In Contract with Customer, Liability [Roll Forward] | |||
Deferred revenue, beginning of period | $ 64,104 | $ 38,169 | $ 22,973 |
Billings | 194,816 | 143,758 | 94,826 |
Revenue recognized | (166,351) | (117,823) | (79,630) |
Deferred revenue, end of period | $ 92,569 | $ 64,104 | $ 38,169 |
Deferred Revenue and Performa_4
Deferred Revenue and Performance Obligations - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |||
Percent of total revenue recognized from deferred revenue balance | 38.00% | 32.00% | 27.00% |
Future estimated revenue related to performance obligations | $ 75.7 | $ 43.6 |
Deferred Revenue and Performa_5
Deferred Revenue and Performance Obligations - Performance Obligations (Details) | Jan. 31, 2020 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-02-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, period | 24 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-02-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation, period |
Common Stock and Stockholders_3
Common Stock and Stockholders' Equity (Deficit) - Additional Information (Details) | Apr. 15, 2019shares | Apr. 14, 2019shares | Apr. 11, 2019purchase_periodshares | Mar. 31, 2019shares | Jan. 31, 2020USD ($)equity_incentive_plan$ / sharesshares | Jan. 31, 2019USD ($)$ / sharesshares | Jan. 31, 2018USD ($)$ / sharesshares | Jun. 30, 2018$ / sharesshares |
Subsidiary, Sale of Stock [Line Items] | ||||||||
Number of equity incentive plans | equity_incentive_plan | 2 | |||||||
Number of shares authorized for grant (in shares) | shares | 13,126,301 | 23,929,932 | ||||||
Options granted (in shares) | shares | 3,041,000 | 3,907,534 | ||||||
Number of shares available for grant (in shares) | shares | 11,841,156 | 2,221,216 | ||||||
Weighted average grant date fair value of stock options (in dollars per share) | $ / shares | $ 11.07 | $ 4.87 | $ 3.32 | |||||
Aggregate intrinsic value of stock options exercised | $ 61,700,000 | $ 10,500,000 | $ 6,400,000 | |||||
Unrecognized compensation cost related to unvested stock options | 48,600,000 | |||||||
Stock-based compensation expense | $ 27,205,000 | 25,295,000 | 18,152,000 | |||||
Shares of common stock issued under the ESPP (in shares) | shares | 210,775 | |||||||
Non-cash charitable contribution expense | $ 0 | 6,217,000 | 0 | |||||
Stock-based compensation expense for the difference between price paid and estimated fair value of shares | $ 0 | $ 5,500,000 | 0 | |||||
Early exercises of common stock (in shares) | shares | 76,415 | 339,049 | ||||||
Early exercise liability | $ 509,000 | $ 1,827,000 | ||||||
Research and development | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Stock-based compensation expense | 5,566,000 | 8,171,000 | 9,796,000 | |||||
Stock-based compensation expense for the difference between price paid and estimated fair value of shares | 3,800,000 | |||||||
General and administrative | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Stock-based compensation expense | 11,697,000 | 12,860,000 | 4,140,000 | |||||
Stock-based compensation expense for the difference between price paid and estimated fair value of shares | 1,400,000 | |||||||
Sales and marketing | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Stock-based compensation expense | $ 8,924,000 | 3,982,000 | $ 3,831,000 | |||||
Stock-based compensation expense for the difference between price paid and estimated fair value of shares | $ 300,000 | |||||||
Stock options | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Unrecognized compensation cost related to unvested awards, period for recognition | 3 years 2 months 12 days | |||||||
Stock options | Employee | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Vesting period | 4 years | |||||||
Expiration period | 10 years | |||||||
Stock options | Employee | 50% vest over four years from grant date | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Vesting period | 4 years | |||||||
Vesting percentage | 50.00% | |||||||
Stock options | Employee | 50% vest over five years from grant date | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Vesting period | 5 years | |||||||
Vesting percentage | 50.00% | |||||||
Stock options | Nonemployee | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Expiration period | 10 years | |||||||
RSUs | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Vesting period | 4 years | |||||||
Unrecognized compensation cost related to unvested awards, period for recognition | 3 years 8 months 12 days | |||||||
Unrecognized compensation cost related to unvested RSUs | $ 29,000,000 | |||||||
Employee Stock Purchase Plan | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Number of shares authorized for grant (in shares) | shares | 1,850,000 | |||||||
Number of shares available for grant (in shares) | shares | 1,639,225 | |||||||
Offering period | 24 months | |||||||
Number of purchase periods within each offering period | purchase_period | 4 | |||||||
Purchase period | 6 months | |||||||
Purchase price as a percentage of fair market value of stock on the offering date or the purchase date | 85.00% | |||||||
Stock-based compensation expense | $ 5,100,000 | |||||||
Amount withheld on behalf of employees for future purchase | $ 5,500,000 | |||||||
Purchase price of common stock issued under the ESPP (in dollars per share) | $ / shares | $ 19.63 | |||||||
Common stock | ||||||||
Subsidiary, Sale of Stock [Line Items] | ||||||||
Number of shares as a result of conversion (in shares) | shares | 41,273,345 | 41,273,345 | ||||||
Conversion ratio | 1 | |||||||
Shares of common stock issued under the ESPP (in shares) | shares | 210,775 | |||||||
Number of shares called by warrant (in shares) | shares | 648,092 | |||||||
Exercise price (in dollars per share) | $ / shares | $ 0.01 | |||||||
Exercise of common stock warrants (in shares) | shares | 647,822 | 737,807 | 101,905 | 25,522 |
Common Stock and Stockholders_4
Common Stock and Stockholders' Equity (Deficit) - Shares Available for Issuance (Details) - shares | Jan. 31, 2020 | Jan. 31, 2019 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares available for grant (in shares) | 11,841,156 | 2,221,216 |
Total common stock reserved at end of period (in shares) | 29,093,337 | |
Stock options and RSUs | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Outstanding stock options and unvested RSUs outstanding (in shares) | 15,612,956 | |
Number of shares available for grant (in shares) | 11,841,156 | |
ESPP | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares available for grant (in shares) | 1,639,225 |
Common Stock and Stockholders_5
Common Stock and Stockholders' Equity (Deficit) - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | |
Mar. 31, 2019 | Jan. 31, 2020 | Jan. 31, 2019 | |
Number of Shares | |||
Outstanding at beginning of period (in shares) | 14,006,222 | ||
Granted (in shares) | 3,041,000 | 3,907,534 | |
Exercised (in shares) | (2,527,533) | ||
Canceled (in shares) | (888,178) | ||
Outstanding at end of period (in shares) | 14,498,045 | 14,006,222 | |
Vested as of end of period (in shares) | 6,973,210 | ||
Weighted Average Exercise Price | |||
Outstanding at beginning of period (in dollars per share) | $ 4.32 | ||
Granted (in dollars per share) | 16.15 | ||
Exercised (in dollars per share) | 2.76 | ||
Canceled (in dollars per share) | 11.32 | ||
Outstanding at end of period (in dollars per share) | 7.37 | $ 4.32 | |
Vested as of end of period (in dollars per share) | $ 3.66 | ||
Weighted Average Remaining Contractual Term | |||
Outstanding | 7 years 9 months 18 days | 8 years 2 months 12 days | |
Vested | 7 years | ||
Aggregate Intrinsic Value | |||
Outstanding | $ 231,300 | $ 142,840 | |
Vested | $ 137,060 |
Common Stock and Stockholders_6
Common Stock and Stockholders' Equity (Deficit) - Assumptions Used to Calculate Fair Value of Employee Stock Option Grants Made (Details) | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected dividend yield | 0.00% | ||
Employee | Stock options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Expected volatility, minimum | 41.70% | 40.10% | 40.30% |
Expected volatility, maximum | 42.80% | 43.20% | 46.70% |
Risk-free interest rate, minimum | 1.39% | 2.53% | 1.85% |
Risk-free interest rate, maximum | 2.48% | 3.04% | 2.57% |
Employee | Stock options | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (years) | 5 years 6 months | 5 years 4 months 24 days | 5 years 6 months |
Employee | Stock options | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (years) | 6 years 10 months 25 days | 6 years 9 months 18 days | 6 years 3 months 19 days |
Common Stock and Stockholders_7
Common Stock and Stockholders' Equity (Deficit) - Restricted Stock Units Activity (Details) - RSUs | 12 Months Ended |
Jan. 31, 2020$ / sharesshares | |
Number of RSUs | |
Outstanding at beginning of period (in shares) | shares | 0 |
Granted (in shares) | shares | 1,153,504 |
Vested, net of shares withheld for employee payroll taxes (in shares) | shares | (1,293) |
Canceled (in shares) | shares | (37,300) |
Outstanding at end of period (in shares) | shares | 1,114,911 |
Weighted Average Grant Date Fair Value Per Share | |
Outstanding at beginning of period (in dollars per share) | $ / shares | $ 0 |
Granted (in dollars per share) | $ / shares | 28.20 |
Vested, net of shares withheld for employee payroll taxes (in dollars per share) | $ / shares | 32.48 |
Canceled (in dollars per share) | $ / shares | 30.63 |
Outstanding at end of period (in dollars per share) | $ / shares | $ 28.10 |
Common Stock and Stockholders_8
Common Stock and Stockholders' Equity (Deficit) - Schedule of Assumptions Used to Calculate Fair Value of Shares to be Granted Under ESPP (Details) | 12 Months Ended |
Jan. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Expected dividend yield | 0.00% |
ESPP | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Expected dividend yield | 0.00% |
Expected volatility, minimum | 39.20% |
Expected volatility, maximum | 48.40% |
Risk-free interest rate, minimum | 1.53% |
Risk-free interest rate, maximum | 2.43% |
Minimum | ESPP | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Expected term (years) | 6 months |
Maximum | ESPP | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Expected term (years) | 2 years 1 month 6 days |
Common Stock and Stockholders_9
Common Stock and Stockholders' Equity (Deficit) - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Stock-based compensation expense | $ 27,205 | $ 25,295 | $ 18,152 |
Non-cash charitable contribution expense | 0 | 6,217 | 0 |
Cost of revenue | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Stock-based compensation expense | 1,018 | 282 | 385 |
Research and development | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Stock-based compensation expense | 5,566 | 8,171 | 9,796 |
Sales and marketing | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Stock-based compensation expense | 8,924 | 3,982 | 3,831 |
General and administrative | |||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | |||
Stock-based compensation expense | $ 11,697 | $ 12,860 | $ 4,140 |
Net Loss Per Share - Calculatio
Net Loss Per Share - Calculation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Numerator: | |||
Net loss | $ (50,339) | $ (40,741) | $ (38,149) |
Denominator: | |||
Weighted average shares used in calculating net loss per share, basic and diluted (in shares) | 65,544 | 21,410 | 19,986 |
Net loss per share, basic and diluted (in dollars per share) | $ (0.77) | $ (1.90) | $ (1.91) |
Net Loss Per Share - Anti-dilut
Net Loss Per Share - Anti-dilutive Securities (Details) - shares shares in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share (in shares) | 15,936 | 57,128 | 48,681 |
Redeemable convertible preferred stock | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share (in shares) | 0 | 41,273 | 36,001 |
Shares subject to outstanding common stock awards | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share (in shares) | 15,613 | 14,006 | 11,316 |
Unvested early exercised stock options | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share (in shares) | 76 | 339 | 246 |
Warrants to purchase common stock | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share (in shares) | 0 | 750 | 204 |
Early exercised stock options in exchange for note receivable | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share (in shares) | 0 | 250 | 250 |
Restricted stock awards purchased with promissory notes | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share (in shares) | 180 | 510 | 664 |
Shares issuable pursuant to the 2019 Employee Stock Purchase Plan | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of earnings per share (in shares) | 67 | 0 | 0 |
Income Taxes - Components of Lo
Income Taxes - Components of Loss Before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Domestic | $ (53,485) | $ (39,863) | $ (37,396) |
Foreign | 3,821 | (177) | (569) |
Loss before provision for income taxes | $ (49,664) | $ (40,040) | $ (37,965) |
Income Taxes - Components of In
Income Taxes - Components of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Current | |||
Federal | $ 0 | $ 0 | $ 0 |
State | 126 | 26 | 15 |
Foreign | 25 | 135 | 123 |
Total current tax expense | 151 | 161 | 138 |
Deferred | |||
Federal | 0 | (3) | 9 |
State | (1) | 0 | 1 |
Foreign | 525 | 543 | 36 |
Total deferred tax expense | 524 | 540 | 46 |
Provision for income taxes | $ 675 | $ 701 | $ 184 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Income taxes computed at U.S. federal statutory rate | $ (10,429) | $ (8,408) | $ (12,489) |
State taxes, net of federal benefit | (4,901) | (1,326) | (1,400) |
Permanent differences | 308 | 220 | 34 |
Stock-based compensation | (3,739) | 1,077 | 4,569 |
Foreign rate differential | (239) | 34 | 10 |
Uncertain tax positions | (14) | 680 | 336 |
Tax Act | 0 | 0 | 8,184 |
Tax credits | (3,271) | 0 | 0 |
Change in valuation allowance | 25,390 | 8,085 | 929 |
Charitable contributions | (1,960) | 0 | 0 |
Other | (470) | 339 | 11 |
Provision for income taxes | $ 675 | $ 701 | $ 184 |
Income Taxes - Significant Comp
Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Deferred tax assets: | ||
Net operating losses | $ 36,412 | $ 21,886 |
Allowances and accruals | 2,437 | 2,322 |
Stock-based compensation | 5,523 | 2,171 |
Charitable contributions | 3,989 | 1,626 |
Tax credits | 5,349 | 0 |
Other | 2,075 | 665 |
Gross deferred tax assets | 55,785 | 28,670 |
Less: valuation allowance | (50,086) | (24,695) |
Net deferred tax assets | 5,699 | 3,975 |
Deferred tax liabilities: | ||
Deferred commissions | (6,519) | (4,474) |
Other | (256) | (54) |
Gross deferred tax liabilities | (6,775) | (4,528) |
Net deferred tax liabilities | $ (1,076) | $ (553) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | |
Jan. 31, 2020 | Jan. 31, 2019 | |
Income Tax Disclosure [Abstract] | ||
Increase in valuation allowance | $ 25.4 | $ 8.3 |
Federal net operating loss carryforwards | 142.7 | |
State net operating loss carryforwards | 5.8 | |
Foreign net operating loss carryforwards | 2.8 | |
Tax Credit Carryforward [Line Items] | ||
Unrecognized tax benefits that would affect the effective tax rate if recognized | 1.1 | $ 1 |
Federal | ||
Tax Credit Carryforward [Line Items] | ||
Research and development credit carryforwards | 5.1 | |
California | ||
Tax Credit Carryforward [Line Items] | ||
Research and development credit carryforwards | 3.7 | |
Canada | ||
Tax Credit Carryforward [Line Items] | ||
Research and development credit carryforwards | $ 0.3 |
Income Taxes Income Taxes - Sum
Income Taxes Income Taxes - Summary of Activity Related to Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Balance at beginning of period | $ 6,644 | $ 4,385 | $ 2,400 |
Additions related to prior years | 71 | 0 | 0 |
Reductions related to prior years | (3,515) | (19) | 0 |
Additions related to current year | 843 | 2,278 | 1,985 |
Balance at end of period | $ 4,043 | $ 6,644 | $ 4,385 |
Geographic Information - Revenu
Geographic Information - Revenue by Location (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue | $ 166,351 | $ 117,823 | $ 79,630 |
United States | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue | 129,728 | 94,345 | 64,404 |
International | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue | $ 36,623 | $ 23,478 | $ 15,226 |
Geographic Information - Additi
Geographic Information - Additional Information (Details) - Property, Plant and Equipment - Geographic Concentration Risk | 12 Months Ended | |
Jan. 31, 2020 | Jan. 31, 2019 | |
United States | ||
Concentration Risk [Line Items] | ||
Concentration risk, percentage | 76.00% | 48.00% |
Canada | ||
Concentration Risk [Line Items] | ||
Concentration risk, percentage | 23.00% | 52.00% |
United Kingdom | ||
Concentration Risk [Line Items] | ||
Concentration risk, percentage | 1.00% |
401(k) Plan (Details)
401(k) Plan (Details) - USD ($) | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Retirement Benefits [Abstract] | |||
Employer matching contribution, percent of each participant's employee contributions | 1.00% | ||
Employer contributions, percent of eligible wages during the period | 1.00% | ||
Expense recognized related to matching contributions | $ 400,000 | $ 0 | $ 0 |