Cover
Cover - shares | 6 Months Ended | |
Jul. 31, 2023 | Aug. 31, 2023 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jul. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-40528 | |
Entity Registrant Name | Sprinklr, Inc. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 47-4771485 | |
Entity Address, Address Line One | 29 West 35th Street | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10001 | |
City Area Code | 917 | |
Local Phone Number | 933-7800 | |
Title of 12(b) Security | Class A common stock, par value $0.00003 per share | |
Trading Symbol | CXM | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Central Index Key | 0001569345 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q2 | |
Current Fiscal Year End Date | --01-31 | |
Common Class A | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 136,746,681 | |
Common Class B | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 133,727,259 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jul. 31, 2023 | Jan. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 147,683 | $ 188,387 |
Marketable securities | 480,725 | 390,239 |
Accounts receivable, net of allowance for doubtful accounts of $3.6 million and $3.2 million, respectively | 177,442 | 205,038 |
Prepaid expenses and other current assets | 72,039 | 78,865 |
Total current assets | 877,889 | 862,529 |
Property and equipment, net | 27,622 | 22,885 |
Goodwill and other intangible assets | 50,254 | 50,349 |
Operating lease right-of-use assets | 30,094 | 15,725 |
Other non-current assets | 86,794 | 73,503 |
Total assets | 1,072,653 | 1,024,991 |
Current liabilities: | ||
Accounts payable | 22,791 | 30,101 |
Accrued expenses and other current liabilities | 70,800 | 97,524 |
Operating lease liabilities, current | 6,868 | 7,134 |
Deferred revenue | 322,944 | 324,140 |
Total current liabilities | 423,403 | 458,899 |
Deferred revenue, non-current | 488 | 1,371 |
Deferred tax liability, non-current | 1,303 | 1,289 |
Operating lease liabilities, non-current | 24,984 | 9,633 |
Other liabilities, non-current | 5,189 | 4,467 |
Total liabilities | 455,367 | 475,659 |
Commitments and contingencies (Note 8) | ||
Stockholders’ equity: | ||
Treasury stock, at cost, 14,130,784 and 14,130,784 shares as of July 31, 2023 and January 31, 2023, respectively | (23,831) | (23,831) |
Additional paid-in capital | 1,128,689 | 1,074,149 |
Accumulated other comprehensive loss | (4,262) | (4,384) |
Accumulated deficit | (483,318) | (496,611) |
Total stockholders’ equity | 617,286 | 549,332 |
Total liabilities and stockholders’ equity | 1,072,653 | 1,024,991 |
Class A | ||
Stockholders’ equity: | ||
Common stock | 4 | 3 |
Class B | ||
Stockholders’ equity: | ||
Common stock | $ 4 | $ 6 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Jul. 31, 2023 | Jan. 31, 2023 |
Allowance for doubtful accounts | $ 3.6 | $ 3.2 |
Treasury stock (in shares) | 14,130,784 | 14,130,784 |
Class A | ||
Common stock, par value (in dollars per share) | $ 0.00003 | $ 0.00003 |
Common stock, shares authorized (in shares) | 2,000,000,000 | 2,000,000,000 |
Common stock, shares issued (in shares) | 136,474,973 | 119,477,713 |
Common stock, shares outstanding (in shares) | 136,474,973 | 119,477,713 |
Class B | ||
Common stock, par value (in dollars per share) | $ 0.00003 | $ 0.00003 |
Common stock, shares authorized (in shares) | 310,000,000 | 310,000,000 |
Common stock, shares issued (in shares) | 133,843,052 | 144,263,658 |
Common stock, shares outstanding (in shares) | 133,843,052 | 144,263,658 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Revenue: | ||||
Total revenue | $ 178,465 | $ 150,630 | $ 351,828 | $ 295,608 |
Costs of revenue: | ||||
Total costs of revenue | 43,467 | 42,159 | 85,404 | 83,880 |
Gross profit | 134,998 | 108,471 | 266,424 | 211,728 |
Operating expense: | ||||
Research and development | 24,323 | 19,989 | 45,084 | 37,323 |
Sales and marketing | 80,118 | 86,942 | 169,320 | 173,880 |
General and administrative | 25,068 | 23,215 | 49,724 | 45,328 |
Total operating expense | 129,509 | 130,146 | 264,128 | 256,531 |
Operating income (loss) | 5,489 | (21,675) | 2,296 | (44,803) |
Other income (expense), net | 7,237 | (84) | 11,996 | 211 |
Income (loss) before provision for income taxes | 12,726 | (21,759) | 14,292 | (44,592) |
Provision for income taxes | 2,241 | 2,168 | 999 | 4,623 |
Net income (loss) | $ 10,485 | $ (23,927) | $ 13,293 | $ (49,215) |
Net income (loss) per share, basic (in dollars per share) | $ 0.04 | $ (0.09) | $ 0.05 | $ (0.19) |
Weighted average shares used in computing net income (loss) per share, basic (in shares) | 268,900 | 258,785 | 267,271 | 257,860 |
Net income (loss) per share, diluted (in dollars per share) | $ 0.04 | $ (0.09) | $ 0.05 | $ (0.19) |
Weighted average shares used in computing net income (loss) per share, diluted (in shares) | 283,853 | 258,785 | 282,951 | 257,860 |
Subscription | ||||
Revenue: | ||||
Total revenue | $ 163,452 | $ 133,075 | $ 321,117 | $ 260,395 |
Costs of revenue: | ||||
Total costs of revenue | 27,783 | 25,402 | 55,259 | 50,510 |
Professional services | ||||
Revenue: | ||||
Total revenue | 15,013 | 17,555 | 30,711 | 35,213 |
Costs of revenue: | ||||
Total costs of revenue | $ 15,684 | $ 16,757 | $ 30,145 | $ 33,370 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income (loss) | $ 10,485 | $ (23,927) | $ 13,293 | $ (49,215) |
Foreign currency translation adjustments | (127) | (995) | 68 | (3,042) |
Unrealized (losses) gains on investments, net of tax | (41) | (169) | 54 | (1,305) |
Total comprehensive income (loss), net of tax | $ 10,317 | $ (25,091) | $ 13,415 | $ (53,562) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock Class A and Class B Common Stock | Additional Paid-in Capital | Treasury Stock | Accumulated Other Comprehensive Loss | Accumulated Deficit |
Beginning balance (in shares) at Jan. 31, 2022 | 256,481,000 | |||||
Beginning balance at Jan. 31, 2022 | $ 515,849 | $ 8 | $ 982,122 | $ (23,831) | $ (820) | $ (441,630) |
Beginning balance (in shares) at Jan. 31, 2022 | 14,131,000 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Stock-based compensation - equity classified awards | 29,086 | 29,086 | ||||
Exercise of stock options and vesting of restricted stock units (in shares) | 2,515,000 | |||||
Exercise of stock options and vesting of restricted stock units | 10,429 | 10,429 | ||||
Issuance of common shares upon ESPP purchases (in shares) | 717,000 | |||||
Issuance of common shares upon ESPP purchases | 6,213 | $ 1 | 6,212 | |||
Other comprehensive income (loss) | (4,347) | (4,347) | ||||
Net income (loss) | (49,215) | (49,215) | ||||
Ending balance (in shares) at Jul. 31, 2022 | 259,713,000 | |||||
Ending balance at Jul. 31, 2022 | 508,015 | $ 9 | 1,027,849 | $ (23,831) | (5,167) | (490,845) |
Ending balance (in shares) at Jul. 31, 2022 | 14,131,000 | |||||
Beginning balance (in shares) at Apr. 30, 2022 | 257,945,000 | |||||
Beginning balance at Apr. 30, 2022 | 506,358 | $ 8 | 1,001,102 | $ (23,831) | (4,003) | (466,918) |
Beginning balance (in shares) at Apr. 30, 2022 | 14,131,000 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Stock-based compensation - equity classified awards | 16,624 | 16,624 | ||||
Exercise of stock options and vesting of restricted stock units (in shares) | 1,051,000 | |||||
Exercise of stock options and vesting of restricted stock units | 3,911 | 3,911 | ||||
Issuance of common shares upon ESPP purchases (in shares) | 717,000 | |||||
Issuance of common shares upon ESPP purchases | 6,213 | $ 1 | 6,212 | |||
Other comprehensive income (loss) | (1,164) | (1,164) | ||||
Net income (loss) | (23,927) | (23,927) | ||||
Ending balance (in shares) at Jul. 31, 2022 | 259,713,000 | |||||
Ending balance at Jul. 31, 2022 | 508,015 | $ 9 | 1,027,849 | $ (23,831) | (5,167) | (490,845) |
Ending balance (in shares) at Jul. 31, 2022 | 14,131,000 | |||||
Beginning balance (in shares) at Jan. 31, 2023 | 263,741,000 | |||||
Beginning balance at Jan. 31, 2023 | $ 549,332 | $ 9 | 1,074,149 | $ (23,831) | (4,384) | (496,611) |
Beginning balance (in shares) at Jan. 31, 2023 | 14,130,784 | 14,131,000 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Stock-based compensation - equity classified awards | $ 29,219 | 29,219 | ||||
Exercise of stock options and vesting of restricted stock units (in shares) | 6,049,000 | |||||
Exercise of stock options and vesting of restricted stock units | 21,350 | 21,350 | ||||
Issuance of common shares upon ESPP purchases (in shares) | 528,000 | |||||
Issuance of common shares upon ESPP purchases | 3,970 | 3,970 | ||||
Other adjustment | 0 | $ (1) | 1 | |||
Other comprehensive income (loss) | 122 | 122 | ||||
Net income (loss) | 13,293 | 13,293 | ||||
Ending balance (in shares) at Jul. 31, 2023 | 270,318,000 | |||||
Ending balance at Jul. 31, 2023 | $ 617,286 | $ 8 | $ 1,128,689 | $ (23,831) | $ (4,262) | $ (483,318) |
Ending balance (in shares) at Jul. 31, 2023 | 14,130,784 | 14,131,000 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Cash flow from operating activities: | ||
Net income (loss) | $ 13,293 | $ (49,215) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation and amortization expense | 7,329 | 5,502 |
Bad debt expense | 1,149 | 1,484 |
Stock-based compensation expense, net of amounts capitalized | 28,175 | 28,711 |
Non-cash lease expense | 2,998 | 3,002 |
Deferred income taxes | (3,402) | 0 |
Net amortization/accretion on marketable securities | (7,998) | 577 |
Other non-cash items, net | 39 | 0 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 26,474 | 18,452 |
Prepaid expenses and other current assets | 7,917 | 14,245 |
Other non-current assets | (4,874) | (393) |
Accounts payable | (7,897) | 22,618 |
Operating lease liabilities | (2,896) | (3,730) |
Accrued expenses and other current liabilities | (25,632) | (18,714) |
Litigation settlement | 0 | (12,000) |
Deferred revenue | (2,156) | (6,280) |
Other liabilities | 616 | (1,285) |
Net cash provided by operating activities | 33,135 | 2,974 |
Cash flow from investing activities: | ||
Purchases of marketable securities | (288,727) | (448,083) |
Sales of marketable securities | 380 | 2,838 |
Maturities of marketable securities | 205,911 | 267,699 |
Purchases of property and equipment | (4,413) | (2,352) |
Capitalized internal-use software | (5,744) | (5,016) |
Net cash used in investing activities | (92,593) | (184,915) |
Cash flow from financing activities: | ||
Proceeds from issuance of common stock upon exercise of stock options | 21,350 | 10,429 |
Proceeds from issuance of common stock upon ESPP purchases | 3,970 | 6,213 |
Net cash provided by financing activities | 25,320 | 16,642 |
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash | (89) | (1,919) |
Net change in cash, cash equivalents and restricted cash | (34,227) | (167,218) |
Cash, cash equivalents and restricted cash at beginning of period | 188,387 | 321,426 |
Cash, cash equivalents and restricted cash at end of period | 154,160 | 154,208 |
Supplemental disclosure of cash flow information: | ||
Cash paid for income taxes, net of refunds | 2,999 | 2,885 |
Supplemental disclosure for non-cash investing and financing: | ||
Right-of-use assets obtained in exchange for operating lease liabilities | 17,345 | 2,763 |
Accrued purchases of property and equipment | 1,008 | 1,375 |
Stock-based compensation expense capitalized in internal-use software | 1,544 | 875 |
Accrued for asset retirement obligation | $ 119 | $ 0 |
Organization and Description of
Organization and Description of Business | 6 Months Ended |
Jul. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Description of Business | Organization and Description of Business Description of Business Founded in 2009, Sprinklr, Inc. (the “Company”) provides enterprise cloud software products that enable organizations to do marketing, advertising, research, care, sales and engagement across modern channels including social, messaging, chat and text through its unified Customer Experience Management (“CXM”) software platform. The Company was incorporated in Delaware in 2011 and is headquartered in New York, New York, USA with 19 operating subsidiaries globally. |
Basis of Presentation and Summa
Basis of Presentation and Summary of Significant Accounting Policies | 6 Months Ended |
Jul. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Summary of Significant Accounting Policies | Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, (“U.S. GAAP”), and applicable rules and regulations of the Securities and Exchange Commission (the “SEC”), regarding interim financial reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP have been condensed or omitted, and accordingly the balance sheet as of January 31, 2023, and related disclosures, have been derived from the audited consolidated financial statements at that date but do not include all of the information required by U.S. GAAP for complete consolidated financial statements. These unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements and, in the opinion of management, reflect all adjustments (consisting only of normal recurring adjustments) that are necessary for the fair presentation of the Company’s condensed consolidated financial information. The results of operations for the three and six months ended July 31, 2023 are not necessarily indicative of the results to be expected for the year ending January 31, 2024 or for any other interim period or for any other future year. The accompanying interim unaudited condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the year ended January 31, 2023 in the Company’s Annual Report on Form 10-K (the “2023 10-K”) filed with the SEC on April 3, 2023. There have been no material changes in the significant accounting policies as described in the Company’s consolidated financial statements for the fiscal year ended January 31, 2023 included in the 2023 10-K, with the exception of the addition of restricted cash, which is discussed below. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions made in the accompanying consolidated financial statements include, but are not limited to, fair value assumptions for stock-based compensation, software costs eligible for capitalization, recoverability of long-lived and intangible assets and the allowance for doubtful accounts. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and on assumptions that it believes are reasonable and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could differ materially from those estimates and assumptions. Segments The Company operates in one segment because the Company’s offerings operate on its single Customer Experience Management Platform, the Company’s products are deployed in a similar way, and the Company’s chief operating decision maker (“CODM”), the chief executive officer, evaluates the Company’s financial information and assesses the performance of the Company on a consolidated basis. The CODM does not receive discrete financial information about asset allocation, expense allocation or profitability by product or geography. Because the Company operates in one operating segment, all required financial segment information can be found in the consolidated financial statements. Cash, Cash Equivalents and Restricted Cash The following table reconciles cash, cash equivalents and restricted cash from the condensed consolidated balance sheets to amounts reported in the condensed consolidated statements of cash flows: (in thousands) July 31, 2023 January 31, 2023 Cash and cash equivalents $ 147,683 $ 188,387 Restricted cash included in prepaid expenses and other current assets (1) 1,495 — Restricted cash included in other non-current assets (2) 4,982 — Total cash, cash equivalents and restricted cash $ 154,160 $ 188,387 (1) Consists primarily of cash that is restricted and is associated with certain credit card programs. (2) Consists primarily of collateral for letters of credit issued in lieu of deposits on certain leases and customer contracts, as well as security deposits in lieu of letters of credit for customer contracts. Concentration of Risk and Significant Customers The Company’s financial instruments that are potentially subject to credit risk consist primarily of cash and cash equivalents and accounts receivable. Although the Company deposits its cash with multiple financial institutions, its deposits generally exceed federally insured limits. To manage credit risk related to accounts receivable, the Company maintains an allowance for credit losses. The allowance is determined by applying a loss-rate method based on an aging schedule using the Company’s historical loss rate. The Company also considers reasonable and supportable current and forecasted information in determining its estimated loss rates, such as external forecasts, macroeconomic trends, or other factors, including customers’ credit risk and historical loss experience. The Company’s accounts receivable are derived from invoiced customers located primarily in North America and Europe. No single customer accounted for more than 10% of total revenue in the three and six months ended July 31, 2023 and 2022. In addition, the Company relies upon third-party hosted infrastructure partners globally to serve customers and operate certain aspects of its services, such as environments for development testing, training, sales demonstrations, and production usage. Given this, any disruption of or interference at the Company’s hosted infrastructure partners would impact the Company’s operations and could adversely impact its business. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board issued ASU 2016-13, with subsequent amendments, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“Topic 326”). The Company adopted Topic 326 on January 31, 2023, with an effective date of February 1, 2022, which amended the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including trade receivables. The Company utilized the modified-retrospective approach at adoption, under which prior period comparable financial information was not adjusted. The adoption did not have a material impact on the consolidated financial statements and related disclosures. |
Revenue Recognition
Revenue Recognition | 6 Months Ended |
Jul. 31, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | Revenue Recognition The Company derives its revenues primarily from (i) subscription revenue, which consists of subscription fees from customers accessing the Company’s cloud-based software platform and applications, as well as related customer support services; and (ii) professional services revenue, which consists of fees associated with providing services that educate and assist the Company’s customers with the configuration and optimization of the Company’s software platform and applications. Professional services revenue also includes managed services fees where the Company’s consultants work as part of its customers’ teams to help leverage the subscription service to execute on their customer experience management goals. Costs to Obtain Customer Contracts Costs to obtain customer contracts, including commissions earned, that are considered incremental and recoverable are capitalized and amortized on a straight-line basis over the anticipated period of benefit. The Company determines the period of benefit by taking into consideration the length of its customer contracts, customer relationship period, technology lifecycle, and other factors. The Company currently estimates the period of benefit for which costs are amortized over to be five years. Sales commissions paid for renewals are not commensurate with commissions paid on the initial contract given the substantive difference in commission rates in proportion to their respective contract values. Amortization expense is recorded in sales and marketing expense within the Company’s condensed consolidated statement of operations. Capitalized costs to obtain customer contracts as of July 31, 2023 were $115.8 million, of which $42.0 million is included in prepaid expenses and other current assets and $73.8 million within other non-current assets. Capitalized costs to obtain customer contracts as of January 31, 2023 were $113.5 million, of which $44.1 million is included in prepaid expenses and other current assets and $69.4 million within other non-current assets. During the three months ended July 31, 2023 and 2022, the Company amortized $12.2 million and $11.2 million, respectively, of costs to obtain customer contracts, included in sales and marketing expense. During the six months ended July 31, 2023 and 2022, the Company amortized $24.2 million and $22.2 million, respectively, of costs to obtain customer contracts, included in sales and marketing expense. Deferred Revenue Deferred revenue consists primarily of customer billings made in advance of performance obligations being satisfied and revenue being recognized. The Company recognized revenue of $148.3 million and $128.4 million for the three months ended July 31, 2023, and 2022, respectively, and $235.9 million and $199.4 million for the six months ended July 31, 2023, and 2022, respectively, that was included in the deferred revenue balances at the beginning of the respective periods. The Company receives payments from customers based on billing schedules as established in its contracts. Contract assets represent amounts for which the Company has recognized revenue in excess of billings pursuant to the revenue recognition guidance. At July 31, 2023 and January 31, 2023, contract assets were $3.7 million and $4.8 million, respectively, and were included in prepaid expenses and other current assets. Remaining Performance Obligation Remaining Performance Obligation (“RPO”) represents contracted revenues that had not yet been recognized and includes deferred revenues and amounts that will be invoiced and recognized in future periods. As of July 31, 2023, the Company’s RPO was $806.4 million, approximately $510.4 million of which the Company expects to recognize as revenue over the next 12 months and the remaining balance will be recognized thereafter. Disaggregation of Revenues The Company disaggregates its revenue from contracts with customers by geographic location and market, as it believes it best depicts how the nature, amount, timing, and uncertainty of its revenues and cash flows are affected by economic factors. The following table summarizes the revenue by region based on the shipping address of customers who have contracted to use the cloud - based software platform: Three Months Ended July 31, Six Months Ended July 31, (in thousands) 2023 2022 2023 2022 Americas $ 105,275 $ 96,818 $ 210,917 $ 190,356 EMEA 55,807 42,719 110,027 83,452 Other 17,383 11,093 30,884 21,800 $ 178,465 $ 150,630 $ 351,828 $ 295,608 The United States was the only country that represented more than 10% of the Company’s revenues. The following table represents the revenue in the United States for the three and six months ended July 31, 2023 and 2022. Three Months Ended July 31, Six Months Ended July 31, (in thousands) 2023 2022 2023 2022 United States $ 101,338 $ 90,919 $ 199,405 $ 178,508 |
Marketable Securities
Marketable Securities | 6 Months Ended |
Jul. 31, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities | Marketable Securities The following is a summary of available-for-sale marketable securities, excluding those securities classified within cash and cash equivalents on the condensed consolidated balance sheets: July 31, 2023 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair value Corporate bonds $ 77,529 $ 2 $ (90) $ 77,441 Municipal bonds 7,644 — (10) 7,634 U.S. government and agency securities 162,564 18 (232) 162,350 Certificates of deposit 56,016 2 (57) 55,961 Commercial paper 177,605 16 (282) 177,339 Marketable securities $ 481,358 $ 38 $ (671) $ 480,725 January 31, 2023 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair value Corporate bonds $ 39,922 $ 8 $ (68) $ 39,862 Municipal bonds 12,429 22 — 12,451 U.S. government and agency securities 128,898 6 (367) 128,537 Certificates of deposit 59,546 28 (155) 59,419 Commercial paper 150,131 41 (202) 149,970 Marketable securities $ 390,926 $ 105 $ (792) $ 390,239 As of July 31, 2023 and January 31, 2023, the maturities of available-for-sale marketable securities did not exceed 12 months. Interest income from cash and cash equivalents and marketable securities was $7.9 million and $13.9 million for the three and six months ended July 31, 2023, respectively, and $1.2 million and $1.6 million for the three and six months ended July 31, 2022, respectively. The estimated fair value of debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded, was $422.8 million and $220.9 million as of July 31, 2023 and January 31, 2023, respectively. There are no expected credit losses that have been recorded against the Company’s investment securities as of July 31, 2023 and January 31, 2023. Unrealized losses on the Company’s debt securities are not considered to be credit-related based upon an analysis that considered the extent to which the fair value is less than the amortized basis of a security, adverse conditions specifically related to the security, changes to credit rating of the instrument subsequent to Company purchase, and the strength of the underlying collateral, if any. Refer to Note 5, Fair Value Measurements, for information about the fair value of the Company’s fair value hierarchy for short-term marketable securities. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jul. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements The following tables present information about the Company’s financial assets and liabilities that have been measured at fair value on a recurring basis as of July 31, 2023 and January 31, 2023, and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value: July 31, 2023 January 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial Assets: Cash Equivalents: Money market funds $ 52,431 $ — $ — $ 52,431 $ 73,851 $ — $ — $ 73,851 Corporate bonds — 2,404 — $ 2,404 — — — — Marketable Securities: Corporate bonds — 77,441 — 77,441 — 39,862 — 39,862 Municipal bonds — 7,634 — 7,634 — 12,451 — 12,451 U.S. government and agency securities — 162,350 — 162,350 — 128,537 — 128,537 Certificates of deposit — 55,961 — 55,961 — 59,419 — 59,419 Commercial paper — 177,339 — 177,339 — 149,970 — 149,970 Total financial assets $ 52,431 $ 483,129 $ — $ 535,560 $ 73,851 $ 390,239 $ — $ 464,090 The Company classifies its highly liquid money market funds within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The Company classifies its commercial paper, corporate and municipal debt securities, U.S. government and agency securities and certificates of deposit within Level 2 because they are valued using inputs other than quoted prices that are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security which may not be actively traded. The Company’s primary objective when investing excess cash is preservation of capital, hence the Company’s marketable securities consist primarily of U.S. government and agency securities, high credit quality corporate debt securities and commercial paper. The Company has classified and accounted for its marketable securities as available-for-sale securities, as it may sell these securities at any time for use in the Company’s current operations or for other purposes, even prior to maturity. As of July 31, 2023 and January 31, 2023, for fixed income securities that were in unrealized loss positions, the Company has determined that (i) it does not have the intent to sell any of these investments and (ii) it is not more likely than not that it will be required to sell any of these investments before recovery of the entire amortized cost basis. In addition, as of July 31, 2023 and January 31, 2023, the Company anticipates that it will recover the entire amortized cost basis of such fixed income securities before maturity. The Company regularly reviews the changes to the rating of its debt securities by rating agencies as well as reasonably monitors the surrounding economic conditions to assess the risk of expected credit losses. As discussed in Note 4, Marketable Securities , as of July 31, 2023 and January 31, 2023, there were no securities that were in an unrealized loss position for more than 12 months. The Company has not recorded any impairments in the periods presented. |
Balance Sheet Components
Balance Sheet Components | 6 Months Ended |
Jul. 31, 2023 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Balance Sheet Components | Balance Sheet Components Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following: (in thousands) July 31, 2023 January 31, 2023 Prepaid hosting and data costs $ 1,300 $ 12,168 Prepaid software costs 8,608 6,079 Prepaid marketing 2,998 1,660 Capitalized commissions costs, current portion 42,019 44,051 Contract assets 3,683 4,785 Security deposits, short-term 3,219 3,136 Taxes recoverable 3,399 2,327 Restricted cash 1,495 — Prepaid employee benefits 2,511 1,582 Other 2,807 3,077 Prepaid expenses and other current assets $ 72,039 $ 78,865 Depreciation and Amortization Expense Depreciation and amortization expense consisted of the following: Three Months Ended July 31, Six Months Ended July 31, (in thousands) 2023 2022 2023 2022 Depreciation and amortization expense $ 1,548 $ 1,677 $ 3,039 $ 3,012 Amortization expense for capitalized internal-use software $ 2,262 $ 1,327 $ 4,290 $ 2,490 The Company capitalized internal-use software costs, including stock-based compensation, of $3.9 million and $3.4 million for the three months ended July 31, 2023 and 2022, respectively, and $7.3 million and $5.9 million for the six months ended July 31, 2023 and 2022, respectively. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following: (in thousands) July 31, 2023 January 31, 2023 Bonuses $ 12,714 $ 25,057 Commissions 11,319 27,866 Employee liabilities (1) 18,034 16,374 Purchased media costs (2) 1,907 2,965 Accrued restructuring costs (3) 350 4 Accrued sales and use tax liability 7,272 7,336 Accrued income taxes 4,653 3,139 Accrued deferred contract credits 2,847 1,733 Vendor and travel costs payable 4,090 4,132 Professional services 767 784 Asset retirement obligation 969 1,011 Withholding taxes payable 1,287 2,702 Other 4,591 4,421 Accrued expenses and other current liabilities $ 70,800 $ 97,524 (1) Includes $1.3 million and $1.4 million of accrued employee contributions under the Company’s 2021 Employee Stock Purchase Plan (“ESPP”) at July 31, 2023 and January 31, 2023, respectively. (2) Purchased media costs consist of amounts owed to the Company’s vendors for the purchase of advertising space on behalf of its customers. (3) In February 2023, the Company implemented an approved plan for restructuring its global workforce by approximately 4% to reduce operating costs and better align its workforce with the needs of its business. The majority of the associated costs, including severance and benefits, were incurred in the first half of fiscal 2024. For the six months ended July 31, 2023, the Company incurred a total of $4.4 million in restructuring costs of which $4.2 million and $0.2 million are recorded within sales and marketing expense and general and administrative expense, respectively, on the Company’s condensed consolidated statements of operations. As of July 31, 2023, $4.0 million had been paid and the remaining $0.4 million is recorded within accrued restructuring costs and is expected to be paid in the second half of fiscal 2024. |
Leases
Leases | 6 Months Ended |
Jul. 31, 2023 | |
Leases [Abstract] | |
Leases | Leases The Company has operating leases for corporate offices under non-cancelable operating leases with various expiration dates. There are no finance leases. The components of lease expense were as follows: Three Months Ended July 31, Six Months Ended July 31, (in thousands) 2023 2022 2023 2022 Operating lease cost $ 2,888 $ 1,948 $ 5,283 $ 3,795 Variable lease cost 307 268 609 572 Short-term lease cost 182 185 389 383 Total lease cost $ 3,377 $ 2,401 $ 6,281 $ 4,750 The weighted average remaining lease term and discount rate were as follows: July 31, 2023 Weighted average remaining lease term (years) 6.34 Weighted average discount rate 10.76 % The maturities of lease liabilities under non-cancelable operating leases, net of lease incentives, was as follows: (in thousands) July 31, 2023 Fiscal year ended January 31, 2024 (remaining six months) $ 6,086 2025 7,504 2026 6,078 2027 5,508 2028 3,917 2029 3,413 Thereafter 12,912 Total minimum lease payments 45,418 Less: imputed interest (13,566) Total $ 31,852 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jul. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Letters of Credit In April 2023, the Company terminated its credit facility with Silicon Valley Bank (“SVB”), while keeping its existing letters of credit in lieu of deposits on certain leases. As the Company no longer has a credit facility with SVB, it was required to collateralize these letters of credit with cash, totaling approximately $1.3 million, which the Company has therefore classified within restricted cash. Due to its long-term nature, this restricted cash is recorded within other non-current assets on the condensed consolidated balance sheets. During 2023, the Company entered into cash collateral agreements with J.P. Morgan Bank in lieu of a letter of credit facility, through which approximately $3.7 million is outstanding as of July 31, 2023. Due to its long-term nature, this restricted cash is recorded within other non-current assets on the condensed consolidated balance sheets. Legal Matters From time to time, the Company, various subsidiaries, and certain current and former officers may be named as defendants in various lawsuits, claims, investigations and proceedings arising from the normal course of business. The Company also may become involved with contract issues and disputes with customers. With respect to litigation in general, based on the Company’s experience, management believes that the amount of damages claimed in a case are not a meaningful indicator of the potential liability. Claims, suits, investigations and proceedings are inherently uncertain and it is not possible to predict the ultimate outcome of cases. The Company believes that it has valid defenses with respect to the legal matters pending against the Company and intends to vigorously contest each of them. The Company makes a provision for a liability relating to legal matters when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed at least quarterly and adjusted to reflect the impacts of negotiations, estimated settlements, legal rulings, advice of legal counsel and other information and events pertaining to a particular matter. In management’s opinion, resolution of all current matters is not expected to have a material adverse impact on the Company’s condensed consolidated results of operations, cash flows or financial position. However, if an unfavorable ruling were to occur in any specific period, there exists the possibility of a material adverse impact on the results of operations for that period. At July 31, 2023, the Company had no provision for liability under existing litigation. |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
Jul. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation Equity Award Plans The Company has two equity incentive plans, the Sprinklr, Inc. 2021 Equity Incentive Plan (the “2021 Plan”) and the Sprinklr, Inc. 2011 Equity Incentive Plan (the “2011 Plan”). The 2011 Plan was terminated as to future awards in June 2021 upon the adoption of the 2021 Plan, although it continues to govern the terms of any equity grants that remain outstanding under the 2011 Plan. The 2021 Plan provides for the grant of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock awards, restricted stock units (“RSUs”), performance-based stock units (“PSUs”), and other forms of awards to employees, directors and consultants, including employees and consultants of the Company’s affiliates, as permitted by law. In June 2021, the Company also adopted its ESPP, under which employees can purchase common stock through payroll deductions at a price equal to 85% of the lower of the fair market value of the Class A common stock on (i) the first trading day of each offering period and (ii) the last trading day of each related offering period. Summary of Stock Option Activity A summary of the Company’s stock option activity for the six months ended July 31, 2023 is as follows: Number of stock options Weighted average exercise price Weighted average remaining contractual life (in thousands) (in years) Outstanding as of January 31, 2023 33,049 $ 6.11 6.6 Granted 1,512 12.85 Exercised (3,860) 5.53 Cancelled/forfeited (1) (3,065) 5.37 Expired (7) 1.87 Outstanding as of July 31, 2023 27,629 $ 6.64 6.3 Exercisable as of July 31, 2023 21,806 $ 5.67 5.8 Vested and expected to vest as of July 31, 2023 26,655 $ 6.53 6.3 (1) 2,318,632 options tied to market conditions were cancelled during the second quarter as the applicable market conditions were not met by May 1, 2023. Summary of Restricted Stock Unit Activity A summary of the Company’s RSU activity for the six months ended July 31, 2023 is as follows: Number of restricted shares Weighted Average Grant Date Fair Value (in thousands) Outstanding as of January 31, 2023 9,400 $ 12.23 Granted 5,463 12.95 Released (2,189) 12.74 Cancelled/forfeited (933) 12.12 Outstanding as of July 31, 2023 11,741 $ 12.48 Performance-Based Stock Units As of July 31, 2023, the Company had 1,330,000 PSUs outstanding. These awards vest over a five-year period if certain performance and market conditions are met. The performance condition was met in June 2021 and the market conditions have not yet been met as of July 31, 2023. If the market conditions are not met on or prior to January 28, 2026, the associated awards will not vest and will be subsequently cancelled. Stock-Based Compensation Expense Stock-based compensation expense included in operating results was allocated as follows: Three Months Ended July 31, Six Months Ended July 31, (in thousands) 2023 2022 2023 2022 Costs of subscription $ 290 $ 389 $ 590 $ 798 Costs of professional services 405 779 808 1,402 Research and development 3,897 3,148 6,964 5,496 Sales and marketing 6,311 7,809 12,266 13,665 General and administrative 3,962 4,072 7,547 7,350 Stock-based compensation, net of amounts capitalized 14,865 16,197 28,175 28,711 Capitalized stock-based compensation 874 677 1,544 875 Total stock-based compensation $ 15,739 $ 16,874 $ 29,719 $ 29,586 |
Net Income (Loss) Per Share
Net Income (Loss) Per Share | 6 Months Ended |
Jul. 31, 2023 | |
Earnings Per Share [Abstract] | |
Net Income (Loss) Per Share | Net Income (Loss) Per Share The Company has two classes of common stock: Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting, conversion and transfer rights. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis to each class of common stock and the resulting basic and diluted net income (loss) per share attributable to common stockholders are, therefore, the same for both Class A and Class B common stock on both an individual and combined basis. Basic income (loss) per share is computed by dividing net income (loss) attributable to common stockholders (the numerator) by the weighted-average number of common shares outstanding (the denominator) for the period. Diluted net income (loss) per share is calculated by giving effect to all potential dilutive common stock equivalents, which includes stock options, restricted stock units, and other awards. In periods of net loss, diluted loss per share is computed on the same basis as basic loss per share as the inclusion of any other potential shares outstanding would be anti-dilutive. The following table sets forth the computation of basic and diluted net income (loss) per share: Three Months Ended July 31, Six Months Ended July 31, (in thousands, except per share amounts) 2023 2022 2023 2022 Net income (loss) per share – basic: Numerator: Net income (loss) $ 10,485 $ (23,927) $ 13,293 $ (49,215) Denominator: Weighted-average shares outstanding used in computing net income (loss) per share, basic 268,900 258,785 267,271 257,860 Net income (loss) per common share, basic $ 0.04 $ (0.09) $ 0.05 $ (0.19) Net income (loss) per share – diluted: Numerator: Net income (loss) $ 10,485 $ (23,927) $ 13,293 $ (49,215) Denominator: Weighted-average shares outstanding used in computing net income (loss) per share, basic 268,900 258,785 267,271 257,860 Weighted-average effect of diluted securities: Stock options 11,259 — 11,128 — RSUs 3,069 — 4,072 — Common stock warrants 625 — 480 — Weighted-average shares outstanding used in computing net income (loss) per share, diluted 283,853 258,785 282,951 257,860 Net income (loss) per common share, diluted $ 0.04 $ (0.09) $ 0.05 $ (0.19) Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows: Three Months Ended July 31, Six Months Ended July 31, (in thousands) 2023 2022 2023 2022 Stock options 2,591 38,117 6,705 38,117 PSUs and other performance-based awards 1,330 2,295 1,330 2,295 RSUs 650 8,679 692 8,679 ESPP 164 139 321 139 Warrants to purchase common stock — 2,500 — 2,500 Total shares excluded from net income (loss) per share 4,735 51,730 9,048 51,730 |
Income Taxes
Income Taxes | 6 Months Ended |
Jul. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The Company computes its year-to-date provision for income taxes by applying the estimated annual effective tax rate to year-to-date pretax income or loss and adjusts the provision for discrete tax items recorded in the period. During the three months ended July 31, 2023 and 2022, the Company recorded an income tax provision of $2.2 million and $2.2 million, respectively. During the six months ended July 31, 2023 and 2022, the Company recorded an income tax provision of $1.0 million and $4.6 million, respectively. The Company’s effective tax rate generally differs from the U.S. federal statutory tax rate primarily due to a full valuation allowance related to the Company’s U.S. deferred tax assets, partially offset by state taxes and the foreign tax rate differential on non-U.S. income. Additionally, following an assessment of the realizability of our deferred tax assets in Brazil and Japan, the Company released its previously established valuation allowances on these assets, resulting in a $3.3 million tax benefit being recorded during the three months ended April 30, 2023. The Company regularly evaluates the realizability of its deferred tax assets and establishes a valuation allowance if it is more likely than not that some or all the deferred tax assets will not be realized. In making such a determination, the Company considers all available positive and negative evidence. As of July 31, 2023, the Company continues to maintain a full valuation allowance against the deferred tax assets of the U.S. entity only. The Inflation Reduction Act of 2022 (“IRA”) was signed into law on August 16, 2022. The bill was meant to address the high inflation rate in the U.S. through various climate, energy, healthcare, and other incentives. These incentives are meant to be paid for by the tax provisions included in the IRA, such as a new 15 percent corporate minimum tax, a new 1 percent excise tax on stock buybacks, additional IRS funding to improve taxpayer compliance, and other items. At this time, none of the IRA tax provisions are expected to have a material impact to the Company’s fiscal 2024 tax provision. The Company will continue to monitor for updates to the Company’s business along with guidance issued with respect to the IRA to determine whether any adjustments are needed to the Company’s tax provision in future periods. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jul. 31, 2023 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions The Company engaged Lyearn Inc. (“Lyearn”), a learning management system company that is wholly owned by Ragy Thomas, our Founder, Chairman and Chief Executive Officer, in connection with the provision of digital training services to the Company’s employees and certain Sprinklr customers. The Company paid approximately $0.2 million to Lyearn in connection with the digital training services provided to employees for the six months ended July 31, 2023. There were no payments under this arrangement during each of the three months ended July 31, 2023 and 2022 and six months ended July 31, 2022. The Company paid approximately $0.1 million to Lyearn in connection with the digital training services provided to a customer during each of the six months ended July 31, 2023 and 2022 and three months ended July 31, 2023. There were no payments under this arrangement during the three months ended July 31, 2022. The Company recognized expenses of $0.1 million during each of the three months ended July 31, 2023 and 2022 related to the arrangements. During the six months ended July 31, 2023 and 2022, the Company recognized expenses of $0.1 million and $0.2 million, respectively, related to the arrangements. As of July 31, 2023 and January 31, 2023, the Company had outstanding payables of $0.2 million and $0.4 million, respectively, related to the arrangements. With regard to the development of certain human productivity features for the Company, the Company is leveraging its collaborative relationship with Lyearn to serve Company imperatives in the areas of employee assessment, goal-setting, and activity measurement against goals, and other employee feedback and assessment, to assist and accelerate the Company’s efforts to identify the optimal tools and processes that will be deployed long-term to meet these business imperatives. These collaborative services are provided to the Company, by Lyearn, at no cost. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jul. 31, 2023 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent EventsOn August 2, 2023, the Company entered into a 10-year lease agreement for a new corporate headquarters for approximately 24,000 square feet of office space located in New York, NY. The Company has the option to extend the term for 60 months. The Company cannot take possession of the leased premises until the design and construction period ends, which is not anticipated until fiscal 2025. The annual lease payments will be approximately $2.6 million once the lease commences. |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Pay vs Performance Disclosure | ||||
Net income (loss) | $ 10,485 | $ (23,927) | $ 13,293 | $ (49,215) |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended | 6 Months Ended |
Jul. 31, 2023 shares | Jul. 31, 2023 shares | |
Trading Arrangements, by Individual | ||
Material Terms of Trading Arrangement | During our last fiscal quarter, our directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated the contracts, instructions or written plans for the purchase or sale of the Company’s securities set forth in the table below. Type of Trading Arrangement Name and Position Action Adoption/ Termination Date Rule 10b5-1* Non- Rule 10b5-1** Total Shares of Class A Common Stock to be Sold Expiration Date Manish Sarin, Chief Financial Officer Adoption June 21, 2023 X 100,000 December 20, 2023 Diane K. Adams, Chief Culture and Talent Officer Termination (1) July 14, 2023 X Up to 247,750 (2) January 12, 2024 Diane K. Adams, Chief Culture and Talent Officer Adoption (1) July 14, 2023 X Up to 308,609 (3) January 12, 2024 * Contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. ** “Non-Rule 10b5-1 trading arrangement” as defined in Item 408(c) of Regulation S-K under the Exchange Act. (1) Represents the modification, as described in Rule 10b5-1(c)(1)(iv) under the Exchange Act, of a written plan adopted on October 12, 2022 that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), as then in effect, under the Exchange Act. (2) Included up to 47,750 shares subject to restricted stock units (“RSUs”) previously granted to Ms. Adams that were to vest and be released to Ms. Adams on or prior to December 15, 2023. The actual number of shares underlying such RSUs that were to be released to Ms. Adams and sold under the Rule 10b5-1 trading arrangement was net of the number of shares withheld to satisfy tax withholding obligations arising from the vesting of such shares and is not determinable at this time. (3) Includes up to 7,250 shares subject to RSUs previously granted to Ms. Adams that will vest and be released to Ms. Adams on or prior to December 15, 2023. The actual number of shares underlying such RSUs that will be released to Ms. Adams and sold under the Rule 10b5-1 trading arrangement will be net of the number of shares withheld to satisfy tax withholding obligations arising from the vesting of such shares and is not determinable at this time. | |
Manish Sarin [Member] | ||
Trading Arrangements, by Individual | ||
Name | Manish Sarin | |
Title | Chief Financial Officer | |
Rule 10b5-1 Arrangement Adopted | true | |
Adoption Date | June 21, 2023 | |
Arrangement Duration | 182 days | |
Aggregate Available | 100,000 | 100,000 |
Diane K. Adams [Member] | ||
Trading Arrangements, by Individual | ||
Arrangement Duration | 182 days | |
Diane K. Adams Termination 2023 Plan [Member] | Diane K. Adams [Member] | ||
Trading Arrangements, by Individual | ||
Name | Diane K. Adams | |
Title | Chief Culture and Talent Officer | |
Rule 10b5-1 Arrangement Terminated | true | |
Termination Date | July 14, 2023 | |
Aggregate Available | 247,750 | 247,750 |
Diane K. Adams Adoption 2023 Plan [Member] | Diane K. Adams [Member] | ||
Trading Arrangements, by Individual | ||
Name | Diane K. Adams | |
Title | Chief Culture and Talent Officer | |
Rule 10b5-1 Arrangement Adopted | true | |
Adoption Date | July 14, 2023 | |
Aggregate Available | 308,609 | 308,609 |
Basis of Presentation and Sum_2
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jul. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Principles of Consolidation | Basis of Presentation and Principles of Consolidation The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, (“U.S. GAAP”), and applicable rules and regulations of the Securities and Exchange Commission (the “SEC”), regarding interim financial reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP have been condensed or omitted, and accordingly the balance sheet as of January 31, 2023, and related disclosures, have been derived from the audited consolidated financial statements at that date but do not include all of the information required by U.S. GAAP for complete consolidated financial statements. These unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements and, in the opinion of management, reflect all adjustments (consisting only of normal recurring adjustments) that are necessary for the fair presentation of the Company’s condensed consolidated financial information. The results of operations for the three and six months ended July 31, 2023 are not necessarily indicative of the results to be expected for the year ending January 31, 2024 or for any other interim period or for any other future year. The accompanying interim unaudited condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the year ended January 31, 2023 in the Company’s Annual Report on Form 10-K (the “2023 10-K”) filed with the SEC on April 3, 2023. |
Use of Estimates | Use of EstimatesThe preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions made in the accompanying consolidated financial statements include, but are not limited to, fair value assumptions for stock-based compensation, software costs eligible for capitalization, recoverability of long-lived and intangible assets and the allowance for doubtful accounts. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and on assumptions that it believes are reasonable and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could differ materially from those estimates and assumptions. |
Segments | Segments The Company operates in one segment because the Company’s offerings operate on its single Customer Experience Management Platform, the Company’s products are deployed in a similar way, and the Company’s chief operating decision maker (“CODM”), the chief executive officer, evaluates the Company’s financial information and assesses the performance of the Company on a consolidated basis. The CODM does not receive discrete financial information about asset allocation, expense allocation or profitability by product or geography. Because the Company operates in one operating segment, all required financial segment information can be found in the consolidated financial statements. |
Concentration of Risk and Significant Customers | Concentration of Risk and Significant Customers The Company’s financial instruments that are potentially subject to credit risk consist primarily of cash and cash equivalents and accounts receivable. Although the Company deposits its cash with multiple financial institutions, its deposits generally exceed federally insured limits. To manage credit risk related to accounts receivable, the Company maintains an allowance for credit losses. The allowance is determined by applying a loss-rate method based on an aging schedule using the Company’s historical loss rate. The Company also considers reasonable and supportable current and forecasted information in determining its estimated loss rates, such as external forecasts, macroeconomic trends, or other factors, including customers’ credit risk and historical loss experience. The Company’s accounts receivable are derived from invoiced customers located primarily in North America and Europe. No single customer accounted for more than 10% of total revenue in the three and six months ended July 31, 2023 and 2022. In addition, the Company relies upon third-party hosted infrastructure partners globally to serve customers and operate certain aspects of its services, such as environments for development testing, training, sales demonstrations, and production usage. Given this, any disruption of or interference at the Company’s hosted infrastructure partners would impact the Company’s operations and could adversely impact its business. |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board issued ASU 2016-13, with subsequent amendments, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“Topic 326”). The Company adopted Topic 326 on January 31, 2023, with an effective date of February 1, 2022, which amended the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including trade receivables. The Company utilized the modified-retrospective approach at adoption, under which prior period comparable financial information was not adjusted. The adoption did not have a material impact on the consolidated financial statements and related disclosures. |
Revenue Recognition | Revenue Recognition The Company derives its revenues primarily from (i) subscription revenue, which consists of subscription fees from customers accessing the Company’s cloud-based software platform and applications, as well as related customer support services; and (ii) professional services revenue, which consists of fees associated with providing services that educate and assist the Company’s customers with the configuration and optimization of the Company’s software platform and applications. Professional services revenue also includes managed services fees where the Company’s consultants work as part of its customers’ teams to help leverage the subscription service to execute on their customer experience management goals. Costs to Obtain Customer Contracts |
Fair Value Measurement | The Company classifies its highly liquid money market funds within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The Company classifies its commercial paper, corporate and municipal debt securities, U.S. government and agency securities and certificates of deposit within Level 2 because they are valued using inputs other than quoted prices that are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security which may not be actively traded. The Company’s primary objective when investing excess cash is preservation of capital, hence the Company’s marketable securities consist primarily of U.S. government and agency securities, high credit quality corporate debt securities and commercial paper. The Company has classified and accounted for its marketable securities as available-for-sale securities, as it may sell these securities at any time for use in the Company’s current operations or for other purposes, even prior to maturity. As of July 31, 2023 and January 31, 2023, for fixed income securities that were in unrealized loss positions, the Company has determined that (i) it does not have the intent to sell any of these investments and (ii) it is not more likely than not that it will be required to sell any of these investments before recovery of the entire amortized cost basis. In addition, as of July 31, 2023 and January 31, 2023, the Company anticipates that it will recover the entire amortized cost basis of such fixed income securities before maturity. |
Net Income (Loss) Per Share | The Company has two classes of common stock: Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting, conversion and transfer rights. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis to each class of common stock and the resulting basic and diluted net income (loss) per share attributable to common stockholders are, therefore, the same for both Class A and Class B common stock on both an individual and combined basis. Basic income (loss) per share is computed by dividing net income (loss) attributable to common stockholders (the numerator) by the weighted-average number of common shares outstanding (the denominator) for the period. Diluted net income (loss) per share is calculated by giving effect to all potential dilutive common stock equivalents, which includes stock options, restricted stock units, and other awards. In periods of net loss, diluted loss per share is computed on the same basis as basic loss per share as the inclusion of any other potential shares outstanding would be anti-dilutive. |
Basis of Presentation and Sum_3
Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Accounting Policies [Abstract] | |
Schedule of Cash and Cash Equivalents | The following table reconciles cash, cash equivalents and restricted cash from the condensed consolidated balance sheets to amounts reported in the condensed consolidated statements of cash flows: (in thousands) July 31, 2023 January 31, 2023 Cash and cash equivalents $ 147,683 $ 188,387 Restricted cash included in prepaid expenses and other current assets (1) 1,495 — Restricted cash included in other non-current assets (2) 4,982 — Total cash, cash equivalents and restricted cash $ 154,160 $ 188,387 (1) Consists primarily of cash that is restricted and is associated with certain credit card programs. (2) Consists primarily of collateral for letters of credit issued in lieu of deposits on certain leases and customer contracts, as well as security deposits in lieu of letters of credit for customer contracts. |
Restrictions on Cash and Cash Equivalents | The following table reconciles cash, cash equivalents and restricted cash from the condensed consolidated balance sheets to amounts reported in the condensed consolidated statements of cash flows: (in thousands) July 31, 2023 January 31, 2023 Cash and cash equivalents $ 147,683 $ 188,387 Restricted cash included in prepaid expenses and other current assets (1) 1,495 — Restricted cash included in other non-current assets (2) 4,982 — Total cash, cash equivalents and restricted cash $ 154,160 $ 188,387 (1) Consists primarily of cash that is restricted and is associated with certain credit card programs. (2) Consists primarily of collateral for letters of credit issued in lieu of deposits on certain leases and customer contracts, as well as security deposits in lieu of letters of credit for customer contracts. |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Revenue by Region | The following table summarizes the revenue by region based on the shipping address of customers who have contracted to use the cloud - based software platform: Three Months Ended July 31, Six Months Ended July 31, (in thousands) 2023 2022 2023 2022 Americas $ 105,275 $ 96,818 $ 210,917 $ 190,356 EMEA 55,807 42,719 110,027 83,452 Other 17,383 11,093 30,884 21,800 $ 178,465 $ 150,630 $ 351,828 $ 295,608 Three Months Ended July 31, Six Months Ended July 31, (in thousands) 2023 2022 2023 2022 United States $ 101,338 $ 90,919 $ 199,405 $ 178,508 |
Marketable Securities (Tables)
Marketable Securities (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-For-Sale Marketable Securities | The following is a summary of available-for-sale marketable securities, excluding those securities classified within cash and cash equivalents on the condensed consolidated balance sheets: July 31, 2023 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair value Corporate bonds $ 77,529 $ 2 $ (90) $ 77,441 Municipal bonds 7,644 — (10) 7,634 U.S. government and agency securities 162,564 18 (232) 162,350 Certificates of deposit 56,016 2 (57) 55,961 Commercial paper 177,605 16 (282) 177,339 Marketable securities $ 481,358 $ 38 $ (671) $ 480,725 January 31, 2023 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair value Corporate bonds $ 39,922 $ 8 $ (68) $ 39,862 Municipal bonds 12,429 22 — 12,451 U.S. government and agency securities 128,898 6 (367) 128,537 Certificates of deposit 59,546 28 (155) 59,419 Commercial paper 150,131 41 (202) 149,970 Marketable securities $ 390,926 $ 105 $ (792) $ 390,239 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following tables present information about the Company’s financial assets and liabilities that have been measured at fair value on a recurring basis as of July 31, 2023 and January 31, 2023, and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value: July 31, 2023 January 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial Assets: Cash Equivalents: Money market funds $ 52,431 $ — $ — $ 52,431 $ 73,851 $ — $ — $ 73,851 Corporate bonds — 2,404 — $ 2,404 — — — — Marketable Securities: Corporate bonds — 77,441 — 77,441 — 39,862 — 39,862 Municipal bonds — 7,634 — 7,634 — 12,451 — 12,451 U.S. government and agency securities — 162,350 — 162,350 — 128,537 — 128,537 Certificates of deposit — 55,961 — 55,961 — 59,419 — 59,419 Commercial paper — 177,339 — 177,339 — 149,970 — 149,970 Total financial assets $ 52,431 $ 483,129 $ — $ 535,560 $ 73,851 $ 390,239 $ — $ 464,090 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of Prepaid Expense and Other Current Assets | Prepaid expenses and other current assets consisted of the following: (in thousands) July 31, 2023 January 31, 2023 Prepaid hosting and data costs $ 1,300 $ 12,168 Prepaid software costs 8,608 6,079 Prepaid marketing 2,998 1,660 Capitalized commissions costs, current portion 42,019 44,051 Contract assets 3,683 4,785 Security deposits, short-term 3,219 3,136 Taxes recoverable 3,399 2,327 Restricted cash 1,495 — Prepaid employee benefits 2,511 1,582 Other 2,807 3,077 Prepaid expenses and other current assets $ 72,039 $ 78,865 |
Schedule of Property and Equipment, Net | Depreciation and amortization expense consisted of the following: Three Months Ended July 31, Six Months Ended July 31, (in thousands) 2023 2022 2023 2022 Depreciation and amortization expense $ 1,548 $ 1,677 $ 3,039 $ 3,012 Amortization expense for capitalized internal-use software $ 2,262 $ 1,327 $ 4,290 $ 2,490 |
Schedule of Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities consisted of the following: (in thousands) July 31, 2023 January 31, 2023 Bonuses $ 12,714 $ 25,057 Commissions 11,319 27,866 Employee liabilities (1) 18,034 16,374 Purchased media costs (2) 1,907 2,965 Accrued restructuring costs (3) 350 4 Accrued sales and use tax liability 7,272 7,336 Accrued income taxes 4,653 3,139 Accrued deferred contract credits 2,847 1,733 Vendor and travel costs payable 4,090 4,132 Professional services 767 784 Asset retirement obligation 969 1,011 Withholding taxes payable 1,287 2,702 Other 4,591 4,421 Accrued expenses and other current liabilities $ 70,800 $ 97,524 (1) Includes $1.3 million and $1.4 million of accrued employee contributions under the Company’s 2021 Employee Stock Purchase Plan (“ESPP”) at July 31, 2023 and January 31, 2023, respectively. (2) Purchased media costs consist of amounts owed to the Company’s vendors for the purchase of advertising space on behalf of its customers. (3) In February 2023, the Company implemented an approved plan for restructuring its global workforce by approximately 4% to reduce operating costs and better align its workforce with the needs of its business. The majority of the associated costs, including severance and benefits, were incurred in the first half of fiscal 2024. For the six months ended July 31, 2023, the Company incurred a total of $4.4 million in restructuring costs of which $4.2 million and $0.2 million are recorded within sales and marketing expense and general and administrative expense, respectively, on the Company’s condensed consolidated statements of operations. As of July 31, 2023, $4.0 million had been paid and the remaining $0.4 million is recorded within accrued restructuring costs and is expected to be paid in the second half of fiscal 2024. |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Leases [Abstract] | |
Schedule of Lease Cost | The components of lease expense were as follows: Three Months Ended July 31, Six Months Ended July 31, (in thousands) 2023 2022 2023 2022 Operating lease cost $ 2,888 $ 1,948 $ 5,283 $ 3,795 Variable lease cost 307 268 609 572 Short-term lease cost 182 185 389 383 Total lease cost $ 3,377 $ 2,401 $ 6,281 $ 4,750 The weighted average remaining lease term and discount rate were as follows: July 31, 2023 Weighted average remaining lease term (years) 6.34 Weighted average discount rate 10.76 % |
Schedule of Maturities of Lease Liabilities | The maturities of lease liabilities under non-cancelable operating leases, net of lease incentives, was as follows: (in thousands) July 31, 2023 Fiscal year ended January 31, 2024 (remaining six months) $ 6,086 2025 7,504 2026 6,078 2027 5,508 2028 3,917 2029 3,413 Thereafter 12,912 Total minimum lease payments 45,418 Less: imputed interest (13,566) Total $ 31,852 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Schedule of Stock Option Activity | A summary of the Company’s stock option activity for the six months ended July 31, 2023 is as follows: Number of stock options Weighted average exercise price Weighted average remaining contractual life (in thousands) (in years) Outstanding as of January 31, 2023 33,049 $ 6.11 6.6 Granted 1,512 12.85 Exercised (3,860) 5.53 Cancelled/forfeited (1) (3,065) 5.37 Expired (7) 1.87 Outstanding as of July 31, 2023 27,629 $ 6.64 6.3 Exercisable as of July 31, 2023 21,806 $ 5.67 5.8 Vested and expected to vest as of July 31, 2023 26,655 $ 6.53 6.3 |
Schedule of RSU Award Activity | A summary of the Company’s RSU activity for the six months ended July 31, 2023 is as follows: Number of restricted shares Weighted Average Grant Date Fair Value (in thousands) Outstanding as of January 31, 2023 9,400 $ 12.23 Granted 5,463 12.95 Released (2,189) 12.74 Cancelled/forfeited (933) 12.12 Outstanding as of July 31, 2023 11,741 $ 12.48 |
Schedule of Stock-based Compensation Expense | Stock-based compensation expense included in operating results was allocated as follows: Three Months Ended July 31, Six Months Ended July 31, (in thousands) 2023 2022 2023 2022 Costs of subscription $ 290 $ 389 $ 590 $ 798 Costs of professional services 405 779 808 1,402 Research and development 3,897 3,148 6,964 5,496 Sales and marketing 6,311 7,809 12,266 13,665 General and administrative 3,962 4,072 7,547 7,350 Stock-based compensation, net of amounts capitalized 14,865 16,197 28,175 28,711 Capitalized stock-based compensation 874 677 1,544 875 Total stock-based compensation $ 15,739 $ 16,874 $ 29,719 $ 29,586 |
Net Income (Loss) Per Share (Ta
Net Income (Loss) Per Share (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Earnings Per Share [Abstract] | |
Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share | The following table sets forth the computation of basic and diluted net income (loss) per share: Three Months Ended July 31, Six Months Ended July 31, (in thousands, except per share amounts) 2023 2022 2023 2022 Net income (loss) per share – basic: Numerator: Net income (loss) $ 10,485 $ (23,927) $ 13,293 $ (49,215) Denominator: Weighted-average shares outstanding used in computing net income (loss) per share, basic 268,900 258,785 267,271 257,860 Net income (loss) per common share, basic $ 0.04 $ (0.09) $ 0.05 $ (0.19) Net income (loss) per share – diluted: Numerator: Net income (loss) $ 10,485 $ (23,927) $ 13,293 $ (49,215) Denominator: Weighted-average shares outstanding used in computing net income (loss) per share, basic 268,900 258,785 267,271 257,860 Weighted-average effect of diluted securities: Stock options 11,259 — 11,128 — RSUs 3,069 — 4,072 — Common stock warrants 625 — 480 — Weighted-average shares outstanding used in computing net income (loss) per share, diluted 283,853 258,785 282,951 257,860 Net income (loss) per common share, diluted $ 0.04 $ (0.09) $ 0.05 $ (0.19) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows: Three Months Ended July 31, Six Months Ended July 31, (in thousands) 2023 2022 2023 2022 Stock options 2,591 38,117 6,705 38,117 PSUs and other performance-based awards 1,330 2,295 1,330 2,295 RSUs 650 8,679 692 8,679 ESPP 164 139 321 139 Warrants to purchase common stock — 2,500 — 2,500 Total shares excluded from net income (loss) per share 4,735 51,730 9,048 51,730 |
Organization and Description _2
Organization and Description of Business (Details) | Jul. 31, 2023 subsidiary |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of subsidiaries | 19 |
Basis of Presentation and Sum_4
Basis of Presentation and Summary of Significant Accounting Policies (Details) $ in Thousands | 6 Months Ended | |||
Jul. 31, 2023 USD ($) segment | Jan. 31, 2023 USD ($) | Jul. 31, 2022 USD ($) | Jan. 31, 2022 USD ($) | |
Accounting Policies [Abstract] | ||||
Number of operating segments | segment | 1 | |||
Cash and cash equivalents | $ 147,683 | $ 188,387 | ||
Restricted cash included in prepaid expenses and other current assets | 1,495 | 0 | ||
Restricted cash included in other non-current assets | 4,982 | 0 | ||
Total cash, cash equivalents and restricted cash | $ 154,160 | $ 188,387 | $ 154,208 | $ 321,426 |
Revenue Recognition - Other Inf
Revenue Recognition - Other Information (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | Jan. 31, 2023 | |
Capitalized Contract Cost [Line Items] | |||||
Amortization period (in years) | 5 years | 5 years | |||
Capitalized costs to obtain customer contracts | $ 115.8 | $ 115.8 | $ 113.5 | ||
Amortization of costs to obtain customer contracts | 12.2 | $ 11.2 | 24.2 | $ 22.2 | |
Revenue recognized previously included in deferred revenue balance | 148.3 | $ 128.4 | 235.9 | $ 199.4 | |
Contract assets | 3.7 | 3.7 | 4.8 | ||
Prepaid expenses and other current assets | |||||
Capitalized Contract Cost [Line Items] | |||||
Capitalized costs to obtain customer contracts | 42 | 42 | 44.1 | ||
Other noncurrent assets | |||||
Capitalized Contract Cost [Line Items] | |||||
Capitalized costs to obtain customer contracts | $ 73.8 | $ 73.8 | $ 69.4 |
Revenue Recognition - Performan
Revenue Recognition - Performance Obligation (Details) $ in Millions | Jul. 31, 2023 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligations | $ 806.4 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-08-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligations | $ 510.4 |
Timing of satisfaction of performance obligation | 12 months |
Revenue Recognition - Revenue b
Revenue Recognition - Revenue by Region (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Disaggregation of Revenue [Line Items] | ||||
Total revenue | $ 178,465 | $ 150,630 | $ 351,828 | $ 295,608 |
Americas | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 105,275 | 96,818 | 210,917 | 190,356 |
EMEA | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 55,807 | 42,719 | 110,027 | 83,452 |
Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | 17,383 | 11,093 | 30,884 | 21,800 |
United States | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenue | $ 101,338 | $ 90,919 | $ 199,405 | $ 178,508 |
Marketable Securities - Availab
Marketable Securities - Available -For-Sale Marketable Securities (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Jan. 31, 2023 |
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | $ 481,358 | $ 390,926 |
Unrealized Gains | 38 | 105 |
Unrealized Losses | (671) | (792) |
Marketable securities | 480,725 | 390,239 |
Corporate bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 77,529 | 39,922 |
Unrealized Gains | 2 | 8 |
Unrealized Losses | (90) | (68) |
Marketable securities | 77,441 | 39,862 |
Municipal bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 7,644 | 12,429 |
Unrealized Gains | 0 | 22 |
Unrealized Losses | (10) | 0 |
Marketable securities | 7,634 | 12,451 |
U.S. government and agency securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 162,564 | 128,898 |
Unrealized Gains | 18 | 6 |
Unrealized Losses | (232) | (367) |
Marketable securities | 162,350 | 128,537 |
Certificates of deposit | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 56,016 | 59,546 |
Unrealized Gains | 2 | 28 |
Unrealized Losses | (57) | (155) |
Marketable securities | 55,961 | 59,419 |
Commercial paper | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 177,605 | 150,131 |
Unrealized Gains | 16 | 41 |
Unrealized Losses | (282) | (202) |
Marketable securities | $ 177,339 | $ 149,970 |
Marketable Securities - Narrati
Marketable Securities - Narrative (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | Jan. 31, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |||||
Investment income, interest | $ 7,900,000 | $ 1,200,000 | $ 13,900,000 | $ 1,600,000 | |
Debt securities, available-for-sale, unrealized loss position, fair value | 422,800,000 | 422,800,000 | $ 220,900,000 | ||
Debt securities, available-for-sale, allowance for credit loss | $ 0 | $ 0 | $ 0 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jul. 31, 2023 USD ($) security | Jan. 31, 2023 USD ($) security | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | $ 480,725 | $ 390,239 |
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, number of securities | security | 0 | 0 |
Other-than-temporary impairment loss, debt securities, available-for-sale | $ 0 | $ 0 |
Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 77,441 | 39,862 |
Municipal bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 7,634 | 12,451 |
U.S. government and agency securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 162,350 | 128,537 |
Certificates of deposit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 55,961 | 59,419 |
Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 177,339 | 149,970 |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total financial assets | 535,560 | 464,090 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total financial assets | 52,431 | 73,851 |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total financial assets | 483,129 | 390,239 |
Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total financial assets | 0 | 0 |
Recurring | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 77,441 | 39,862 |
Recurring | Corporate bonds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 0 |
Recurring | Corporate bonds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 77,441 | 39,862 |
Recurring | Corporate bonds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 0 |
Recurring | Municipal bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 7,634 | 12,451 |
Recurring | Municipal bonds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 0 |
Recurring | Municipal bonds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 7,634 | 12,451 |
Recurring | Municipal bonds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 0 |
Recurring | U.S. government and agency securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 162,350 | 128,537 |
Recurring | U.S. government and agency securities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 0 |
Recurring | U.S. government and agency securities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 162,350 | 128,537 |
Recurring | U.S. government and agency securities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 0 |
Recurring | Certificates of deposit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 55,961 | 59,419 |
Recurring | Certificates of deposit | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 0 |
Recurring | Certificates of deposit | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 55,961 | 59,419 |
Recurring | Certificates of deposit | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 0 |
Recurring | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 177,339 | 149,970 |
Recurring | Commercial paper | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 0 |
Recurring | Commercial paper | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 177,339 | 149,970 |
Recurring | Commercial paper | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 0 | 0 |
Recurring | Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 52,431 | 73,851 |
Recurring | Money market funds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 52,431 | 73,851 |
Recurring | Money market funds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | 0 |
Recurring | Money market funds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | 0 |
Recurring | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 2,404 | 0 |
Recurring | Corporate bonds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | 0 |
Recurring | Corporate bonds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 2,404 | 0 |
Recurring | Corporate bonds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | $ 0 | $ 0 |
Balance Sheet Components - Sche
Balance Sheet Components - Schedule of Prepaid Expense and Other Current Assets (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Jan. 31, 2023 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Prepaid hosting and data costs | $ 1,300 | $ 12,168 |
Prepaid software costs | 8,608 | 6,079 |
Prepaid marketing | 2,998 | 1,660 |
Capitalized commissions costs, current portion | 42,019 | 44,051 |
Contract assets | 3,683 | 4,785 |
Security deposits, short-term | 3,219 | 3,136 |
Taxes recoverable | 3,399 | 2,327 |
Restricted cash | 1,495 | 0 |
Prepaid employee benefits | 2,511 | 1,582 |
Other | 2,807 | 3,077 |
Prepaid expenses and other current assets | $ 72,039 | $ 78,865 |
Balance Sheet Components - Sc_2
Balance Sheet Components - Schedule of Depreciation and Amortization (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||||
Depreciation and amortization expense | $ 1,548 | $ 1,677 | $ 3,039 | $ 3,012 |
Amortization expense for capitalized internal-use software | 2,262 | 1,327 | 4,290 | 2,490 |
Capitalized computer software, additions | $ 3,900 | $ 3,400 | $ 7,300 | $ 5,900 |
Balance Sheet Components - Sc_3
Balance Sheet Components - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 31, 2023 | Jan. 31, 2023 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
Bonuses | $ 12,714 | $ 25,057 |
Commissions | 11,319 | 27,866 |
Employee liabilities | 18,034 | 16,374 |
Purchased media costs | 1,907 | 2,965 |
Accrued restructuring costs | 350 | 4 |
Accrued sales and use tax liability | 7,272 | 7,336 |
Accrued income taxes | 4,653 | 3,139 |
Accrued deferred contract credits | 2,847 | 1,733 |
Vendor and travel costs payable | 4,090 | 4,132 |
Professional services | 767 | 784 |
Asset retirement obligation | 969 | 1,011 |
Withholding taxes payable | 1,287 | 2,702 |
Other | 4,591 | 4,421 |
Accrued expenses and other current liabilities | 70,800 | 97,524 |
Accrued ESPP employee contributions | $ 1,300 | 1,400 |
Restructuring Cost and Reserve [Line Items] | ||
Reduction in operating costs, percentage | 4% | |
Restructuring costs | $ 4,400 | |
Payments for restructuring | 4,000 | |
Restructuring reserve | 350 | $ 4 |
Sales and marketing | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring costs | 4,200 | |
General and administrative | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring costs | $ 200 |
Leases - Schedule of Lease Cost
Leases - Schedule of Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Leases [Abstract] | ||||
Operating lease cost | $ 2,888 | $ 1,948 | $ 5,283 | $ 3,795 |
Variable lease cost | 307 | 268 | 609 | 572 |
Short-term lease cost | 182 | 185 | 389 | 383 |
Total lease cost | $ 3,377 | $ 2,401 | $ 6,281 | $ 4,750 |
Leases - Schedule of Other Info
Leases - Schedule of Other Information (Details) | Jul. 31, 2023 |
Leases [Abstract] | |
Weighted average remaining lease term (years) | 6 years 4 months 2 days |
Weighted average discount rate | 10.76% |
Leases - Schedule of Maturities
Leases - Schedule of Maturities of Lease Liabilities (Details) $ in Thousands | Jul. 31, 2023 USD ($) |
Leases [Abstract] | |
Fiscal year ended January 31, 2024 (remaining six months) | $ 6,086 |
2025 | 7,504 |
2026 | 6,078 |
2027 | 5,508 |
2028 | 3,917 |
2029 | 3,413 |
Thereafter | 12,912 |
Total minimum lease payments | 45,418 |
Less: imputed interest | (13,566) |
Total | $ 31,852 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Apr. 30, 2023 | Jan. 31, 2023 |
Other Commitments [Line Items] | |||
Restricted cash, noncurrent | $ 4,982 | $ 0 | |
Silicon Valley Bridge Bank, N.A. | |||
Other Commitments [Line Items] | |||
Restricted cash, noncurrent | $ 1,300 | ||
J.P. Morgan Bank | |||
Other Commitments [Line Items] | |||
Restricted cash, noncurrent | $ 3,700 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Details) | 1 Months Ended | 6 Months Ended | |
May 01, 2023 shares | Jun. 30, 2021 | Jul. 31, 2023 plan shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of equity incentive plans | plan | 2 | ||
Performance Shares [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock options cancelled (in shares) | 2,318,632 | ||
Outstanding shares (in shares) | 1,330,000 | ||
Award requisite service period | 5 years | ||
Employee Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Purchase price of shares, percentage | 85% |
Stock-Based Compensation - Stoc
Stock-Based Compensation - Stock Option Activity (Details) - $ / shares shares in Thousands | 6 Months Ended | 12 Months Ended |
Jul. 31, 2023 | Jan. 31, 2023 | |
Number of stock options | ||
Beginning balance (in shares) | 33,049 | |
Granted (in shares) | 1,512 | |
Exercised (in shares) | (3,860) | |
Cancelled/forfeited (in shares) | (3,065) | |
Expired (in shares) | (7) | |
Ending balance (in shares) | 27,629 | 33,049 |
Exercisable (in shares) | 21,806 | |
Vested and expected to vest (in shares) | 26,655 | |
Weighted average exercise price | ||
Beginning balance (in dollars per share) | $ 6.11 | |
Granted (in dollars per share) | 12.85 | |
Exercised (in dollars per share) | 5.53 | |
Cancelled/forfeited (in dollars per share) | 5.37 | |
Expired (in dollars per share) | 1.87 | |
Ending balance (in dollars per share) | 6.64 | $ 6.11 |
Exercisable (in dollars per share) | 5.67 | |
Vested and expected to vest (in dollars per share) | $ 6.53 | |
Weighted average remaining contractual life | ||
Balance (in years) | 6 years 3 months 18 days | 6 years 7 months 6 days |
Exercisable (in years) | 5 years 9 months 18 days | |
Vested and expected to vest (in years) | 6 years 3 months 18 days |
Stock-Based Compensation - Rest
Stock-Based Compensation - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member] shares in Thousands | 6 Months Ended |
Jul. 31, 2023 $ / shares shares | |
Number of restricted shares | |
Beginning balance (in shares) | shares | 9,400 |
Granted (in shares) | shares | 5,463 |
Released (in shares) | shares | (2,189) |
Cancelled/forfeited (in shares) | shares | (933) |
Ending balance (in shares) | shares | 11,741 |
Weighted Average Grant Date Fair Value | |
Beginning balance (in dollars per share) | $ / shares | $ 12.23 |
Granted (in dollars per share) | $ / shares | 12.95 |
Released (in dollars per share) | $ / shares | 12.74 |
Cancelled/forfeited (in dollars per share) | $ / shares | 12.12 |
Ending balance (in dollars per share) | $ / shares | $ 12.48 |
Stock-Based Compensation - St_2
Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense, net of amounts capitalized | $ 14,865 | $ 16,197 | $ 28,175 | $ 28,711 |
Capitalized stock-based compensation | 874 | 677 | 1,544 | 875 |
Total stock-based compensation | 15,739 | 16,874 | 29,719 | 29,586 |
Cost of Sales | Subscription | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense, net of amounts capitalized | 290 | 389 | 590 | 798 |
Cost of Sales | Professional services | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense, net of amounts capitalized | 405 | 779 | 808 | 1,402 |
Research and development | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense, net of amounts capitalized | 3,897 | 3,148 | 6,964 | 5,496 |
Sales and marketing | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense, net of amounts capitalized | 6,311 | 7,809 | 12,266 | 13,665 |
General and administrative | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense, net of amounts capitalized | $ 3,962 | $ 4,072 | $ 7,547 | $ 7,350 |
Net Income (Loss) Per Share - N
Net Income (Loss) Per Share - Narrative (Details) | Jul. 31, 2023 stockClass |
Earnings Per Share [Abstract] | |
Number of classes of stock | 2 |
Net Income (Loss) Per Share - S
Net Income (Loss) Per Share - Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Numerator: | ||||
Net income (loss) | $ 10,485 | $ (23,927) | $ 13,293 | $ (49,215) |
Denominator: | ||||
Weighted-average shares outstanding used in computing net income (loss) per share, basic (in shares) | 268,900 | 258,785 | 267,271 | 257,860 |
Net income (loss) per common share, basic (in dollars per share) | $ 0.04 | $ (0.09) | $ 0.05 | $ (0.19) |
Numerator: | ||||
Net income (loss) | $ 10,485 | $ (23,927) | $ 13,293 | $ (49,215) |
Denominator: | ||||
Weighted-average shares outstanding used in computing net income (loss) per share, diluted (in shares) | 283,853 | 258,785 | 282,951 | 257,860 |
Net income (loss) per common share, diluted (in dollars per share) | $ 0.04 | $ (0.09) | $ 0.05 | $ (0.19) |
Employee Stock Option | ||||
Denominator: | ||||
Weighted -average effect of diluted securities (in shares) | 11,259 | 0 | 11,128 | 0 |
Restricted Stock Units (RSUs) [Member] | ||||
Denominator: | ||||
Weighted -average effect of diluted securities (in shares) | 3,069 | 0 | 4,072 | 0 |
Warrants to purchase common stock | ||||
Denominator: | ||||
Common stock warrants (in shares) | 625 | 0 | 480 | 0 |
Net Income (Loss) Per Share - P
Net Income (Loss) Per Share - Potentially Dilutive Securities Excluded from Diluted Per Share Calculations (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive shares excluded from net income (loss) per share (in shares) | 4,735 | 51,730 | 9,048 | 51,730 |
Stock options | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive shares excluded from net income (loss) per share (in shares) | 2,591 | 38,117 | 6,705 | 38,117 |
PSUs and other performance-based awards | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive shares excluded from net income (loss) per share (in shares) | 1,330 | 2,295 | 1,330 | 2,295 |
RSUs | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive shares excluded from net income (loss) per share (in shares) | 650 | 8,679 | 692 | 8,679 |
ESPP | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive shares excluded from net income (loss) per share (in shares) | 164 | 139 | 321 | 139 |
Warrants to purchase common stock | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive shares excluded from net income (loss) per share (in shares) | 0 | 2,500 | 0 | 2,500 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2023 | Apr. 30, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Income Tax Disclosure [Abstract] | |||||
Income tax (benefit) expense | $ 2,241 | $ 2,168 | $ 999 | $ 4,623 | |
Valuation allowance, increase (decrease), amount | $ 3,300 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | Jan. 31, 2023 | |
Related Party Transaction [Line Items] | |||||
Related party transaction, amount | $ 100,000 | $ 100,000 | $ 100,000 | $ 200,000 | |
Digital training services for employees | |||||
Related Party Transaction [Line Items] | |||||
Purchases from related party | 0 | 0 | 200,000 | 0 | |
Digital training services for customers | |||||
Related Party Transaction [Line Items] | |||||
Purchases from related party | 100,000 | $ 0 | 100,000 | $ 100,000 | |
Related Party | |||||
Related Party Transaction [Line Items] | |||||
Accounts payable | $ 200,000 | $ 200,000 | $ 400,000 |
Subsequent Events (Details)
Subsequent Events (Details) - Subsequent Event ft² in Thousands, $ in Millions | Aug. 02, 2023 USD ($) ft² |
Subsequent Event [Line Items] | |
Lessee, operating lease, term of contract | 10 years |
Area of real estate property | ft² | 24 |
Lessee, operating lease, option to extend, term | 60 months |
Operating lease, annual expense | $ | $ 2.6 |
Uncategorized Items - cxm-20230
Label | Element | Value |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent | $ (168,000) |
Stockholders' Equity, Other | us-gaap_StockholdersEquityOther | 0 |
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition | us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue | 15,489,000 |
Stock Issued During Period, Value, Employee Stock Purchase Plan | us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan | 3,970,000 |
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture | us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation | 8,658,000 |
Additional Paid-in Capital [Member] | ||
Stockholders' Equity, Other | us-gaap_StockholdersEquityOther | (1,000) |
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition | us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue | 15,489,000 |
Stock Issued During Period, Value, Employee Stock Purchase Plan | us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan | 3,970,000 |
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture | us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation | 8,658,000 |
AOCI Attributable to Parent [Member] | ||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent | (168,000) |
Retained Earnings [Member] | ||
Net Income (Loss) | us-gaap_NetIncomeLoss | 10,485,000 |
Common Class A And Common Class B [Member] | Common Stock [Member] | ||
Stockholders' Equity, Other | us-gaap_StockholdersEquityOther | $ 1,000 |
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture | us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation | 2,259,000 |
Stock Issued During Period, Shares, Employee Stock Purchase Plans | us-gaap_StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans | 528,000 |