Cover
Cover - shares shares in Millions | 9 Months Ended | |
Oct. 31, 2021 | Nov. 19, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Oct. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-39504 | |
Entity Registrant Name | SNOWFLAKE INC. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 46-0636374 | |
Entity Address, Address Line One | Suite 3A | |
Entity Address, Address Line Two | 106 East Babcock Street | |
Entity Address, City or Town | Bozeman | |
Entity Address, State or Province | MT | |
Entity Address, Postal Zip Code | 59715 | |
City Area Code | 844 | |
Local Phone Number | 766-9355 | |
Title of 12(b) Security | Class A Common Stock, $0.0001 par value | |
Trading Symbol | SNOW | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 306.3 | |
Entity Central Index Key | 0001640147 | |
Current Fiscal Year End Date | --01-31 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Oct. 31, 2021 | Jan. 31, 2021 | |
Current assets: | |||
Cash and cash equivalents | $ 935,217 | $ 820,177 | |
Short-term investments | 2,955,613 | 3,087,887 | |
Accounts receivable, net | 254,243 | 294,017 | |
Deferred commissions, current | 42,896 | 32,371 | |
Prepaid expenses and other current assets | 120,288 | 66,200 | |
Total current assets | 4,308,257 | 4,300,652 | |
Long-term investments | 1,211,858 | 1,165,275 | |
Property and equipment, net | 94,377 | 68,968 | |
Operating lease right-of-use assets | 184,057 | 186,818 | |
Goodwill | 8,449 | 8,449 | |
Intangible assets, net | 26,167 | 16,091 | |
Deferred commissions, non-current | 101,551 | 86,164 | |
Other assets | 228,755 | 89,322 | |
Total assets | 6,163,471 | 5,921,739 | |
Current liabilities: | |||
Accounts payable | 10,559 | 5,647 | |
Accrued expenses and other current liabilities | 163,238 | 125,315 | |
Operating lease liabilities, current | 25,194 | 19,650 | |
Deferred revenue, current | 759,744 | 638,652 | |
Total current liabilities | 958,735 | 789,264 | |
Operating lease liabilities, non-current | 178,697 | 184,887 | |
Deferred revenue, non-current | 7,132 | 4,194 | |
Other liabilities | 12,225 | 6,923 | |
Total liabilities | 1,156,789 | 985,268 | |
Commitments and contingencies (Note 9) | |||
Stockholders’ equity: | |||
Preferred stock; $0.0001 par value per share; 200,000,000 shares authorized as of October 31, 2021 and January 31, 2021; zero shares issued and outstanding as of October 31, 2021 and January 31, 2021 | 0 | 0 | |
Additional paid-in capital | 6,797,354 | 6,175,425 | |
Accumulated other comprehensive income (loss) | (3,486) | 439 | |
Accumulated deficit | (1,787,216) | (1,239,421) | |
Total stockholders’ equity | 5,006,682 | 4,936,471 | |
Total liabilities and stockholders’ equity | 6,163,471 | 5,921,739 | |
Class A Common Stock | |||
Stockholders’ equity: | |||
Common stock | [1] | 30 | 11 |
Class B Common Stock | |||
Stockholders’ equity: | |||
Common stock | [1] | $ 0 | $ 17 |
[1] | On March 1, 2021, all shares of the Company’s then-outstanding Class B common stock were automatically converted into the same number of shares of Class A common stock, pursuant to the terms of the Company’s amended and restated certificate of incorporation. No additional shares of Class B common stock will be issued following such conversion. See Note 11 for further details. |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares | Oct. 31, 2021 | Jan. 31, 2021 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Class A Common Stock | ||
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 2,500,000,000 | 2,500,000,000 |
Common stock, shares issued (in shares) | 305,899,486 | 111,374,416 |
Common stock, shares outstanding (in shares) | 305,899,486 | 111,374,416 |
Class B Common Stock | ||
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 185,461,432 | 355,000,000 |
Common stock, shares issued (in shares) | 0 | 176,543,188 |
Common stock, shares outstanding (in shares) | 0 | 176,543,188 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2020 | ||
Income Statement [Abstract] | |||||
Revenue | $ 334,441 | $ 159,624 | $ 835,553 | $ 401,584 | |
Cost of revenue | 120,786 | 66,681 | 324,253 | 159,684 | |
Gross profit | 213,655 | 92,943 | 511,300 | 241,900 | |
Operating expenses: | |||||
Sales and marketing | 190,971 | 134,727 | 540,678 | 325,267 | |
Research and development | 115,900 | 74,138 | 343,783 | 143,949 | |
General and administrative | 64,055 | 53,532 | 189,846 | 116,224 | |
Total operating expenses | 370,926 | 262,397 | 1,074,307 | 585,440 | |
Operating loss | (157,271) | (169,454) | (563,007) | (343,540) | |
Interest income | 1,985 | 1,517 | 6,787 | 5,654 | |
Other income (expense), net | 1,609 | (519) | 9,867 | (1,561) | |
Loss before income taxes | (153,677) | (168,456) | (546,353) | (339,447) | |
Provision for income taxes | 1,179 | 433 | 1,442 | 720 | |
Net loss | $ (154,856) | $ (168,889) | $ (547,795) | $ (340,167) | |
Net loss per share attributable to Class A and Class B common stockholders - basic (in dollars per share) | [1] | $ (0.51) | $ (1.01) | $ (1.84) | $ (3.63) |
Net loss per share attributable to Class A and Class B common stockholders - diluted (in dollars per share) | [1] | $ (0.51) | $ (1.01) | $ (1.84) | $ (3.63) |
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders - basic (in shares) | [1] | 303,006,685 | 166,868,200 | 297,435,637 | 93,763,599 |
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders - diluted (in shares) | [1] | 303,006,685 | 166,868,200 | 297,435,637 | 93,763,599 |
[1] | On March 1, 2021, all shares of the Company’s then-outstanding Class B common stock were automatically converted into the same number of shares of Class A common stock, pursuant to the terms of the Company’s amended and restated certificate of incorporation. No additional shares of Class B common stock will be issued following such conversion. See Note 11 for further details. |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2020 | |
Statement of Comprehensive Income [Abstract] | ||||
Net loss | $ (154,856) | $ (168,889) | $ (547,795) | $ (340,167) |
Other comprehensive income (loss): | ||||
Foreign currency translation adjustments | (361) | 0 | (63) | 0 |
Net change in unrealized gains or losses on available-for-sale securities | (4,266) | (771) | (3,862) | 159 |
Total other comprehensive income (loss) | (4,627) | (771) | (3,925) | 159 |
Comprehensive loss | $ (159,483) | $ (169,660) | $ (551,720) | $ (340,008) |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Income (Loss) | Accumulated Deficit | ||
Beginning balance (in shares) at Jan. 31, 2020 | 169,921,272 | ||||||
Beginning balance at Jan. 31, 2020 | $ 936,474 | ||||||
Increase (Decrease) in Temporary Equity [Roll Forward] | |||||||
Issuance of redeemable convertible preferred stock (in shares) | 12,349,827 | ||||||
Issuance of redeemable convertible preferred stock | $ 478,573 | ||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares) | (182,271,099) | ||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering | $ (1,415,047) | ||||||
Ending balance (in shares) at Oct. 31, 2020 | 0 | ||||||
Ending balance at Oct. 31, 2020 | $ 0 | ||||||
Beginning balance (in shares) at Jan. 31, 2020 | 55,452,421 | ||||||
Beginning balance at Jan. 31, 2020 | (544,757) | $ 6 | $ 155,340 | $ 216 | $ (700,319) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares) | 182,271,099 | ||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering | 1,415,047 | $ 18 | 1,415,029 | ||||
Issuance of common stock upon initial public offering and private placements, net of underwriting discounts (in shares) | 36,366,666 | ||||||
Issuance of common stock upon initial public offering and private placements, net of underwriting discounts | 4,242,284 | $ 4 | 4,242,280 | ||||
Issuance of common stock upon exercise of stock options (in shares) | 9,031,461 | ||||||
Issuance of common stock upon exercise of stock options | 31,098 | 31,098 | |||||
Exercise of common stock warrants (in shares) | 32,241 | ||||||
Repurchase of early exercised stock options (in shares) | (40,000) | ||||||
Vesting of early exercised stock options and restricted common stock | 5,341 | 5,341 | |||||
Vesting of restricted stock units (in shares) | 5,657 | ||||||
Stock-based compensation | 158,810 | 158,810 | |||||
Other comprehensive income (loss) | 159 | 159 | |||||
Net loss | (340,167) | (340,167) | |||||
Ending balance (in shares) at Oct. 31, 2020 | 283,119,545 | ||||||
Ending balance at Oct. 31, 2020 | $ 4,967,815 | $ 28 | 6,007,898 | 375 | (1,040,486) | ||
Beginning balance (in shares) at Jul. 31, 2020 | 182,271,099 | ||||||
Beginning balance at Jul. 31, 2020 | $ 1,415,047 | ||||||
Increase (Decrease) in Temporary Equity [Roll Forward] | |||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares) | (182,271,099) | ||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering | $ (1,415,047) | ||||||
Ending balance (in shares) at Oct. 31, 2020 | 0 | ||||||
Ending balance at Oct. 31, 2020 | $ 0 | ||||||
Beginning balance (in shares) at Jul. 31, 2020 | 62,257,063 | ||||||
Beginning balance at Jul. 31, 2020 | (651,399) | $ 6 | 219,046 | 1,146 | (871,597) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares) | 182,271,099 | ||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering | 1,415,047 | $ 18 | 1,415,029 | ||||
Issuance of common stock upon initial public offering and private placements, net of underwriting discounts (in shares) | 36,366,666 | ||||||
Issuance of common stock upon initial public offering and private placements, net of underwriting discounts | 4,242,284 | $ 4 | 4,242,280 | ||||
Issuance of common stock upon exercise of stock options (in shares) | 2,186,819 | ||||||
Issuance of common stock upon exercise of stock options | 10,362 | 10,362 | |||||
Exercise of common stock warrants (in shares) | 32,241 | ||||||
Vesting of early exercised stock options and restricted common stock | 1,756 | 1,756 | |||||
Vesting of restricted stock units (in shares) | 5,657 | ||||||
Stock-based compensation | 119,425 | 119,425 | |||||
Other comprehensive income (loss) | (771) | (771) | |||||
Net loss | (168,889) | (168,889) | |||||
Ending balance (in shares) at Oct. 31, 2020 | 283,119,545 | ||||||
Ending balance at Oct. 31, 2020 | $ 4,967,815 | $ 28 | 6,007,898 | 375 | (1,040,486) | ||
Beginning balance (in shares) at Jan. 31, 2021 | 0 | ||||||
Beginning balance at Jan. 31, 2021 | $ 0 | ||||||
Ending balance (in shares) at Oct. 31, 2021 | 0 | ||||||
Ending balance at Oct. 31, 2021 | $ 0 | ||||||
Beginning balance (in shares) at Jan. 31, 2021 | [1] | 287,917,604 | |||||
Beginning balance at Jan. 31, 2021 | 4,936,471 | $ 28 | [1] | 6,175,425 | 439 | (1,239,421) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Issuance of common stock upon exercise of stock options (in shares) | [1] | 15,278,682 | |||||
Issuance of common stock upon exercise of stock options | 90,376 | $ 2 | [1] | 90,374 | |||
Issuance of common stock under employee stock purchase plan (in shares) | [1] | 370,452 | |||||
Issuance of common stock under employee stock purchase plan | 52,227 | 52,227 | |||||
Vesting of early exercised stock options and restricted common stock | 614 | 614 | |||||
Vesting of restricted stock units (in shares) | [1] | 2,332,748 | |||||
Stock-based compensation | 478,714 | 478,714 | |||||
Other comprehensive income (loss) | (3,925) | (3,925) | |||||
Net loss | (547,795) | (547,795) | |||||
Ending balance (in shares) at Oct. 31, 2021 | [1] | 305,899,486 | |||||
Ending balance at Oct. 31, 2021 | $ 5,006,682 | $ 30 | [1] | 6,797,354 | (3,486) | (1,787,216) | |
Beginning balance (in shares) at Jul. 31, 2021 | 0 | ||||||
Beginning balance at Jul. 31, 2021 | $ 0 | ||||||
Ending balance (in shares) at Oct. 31, 2021 | 0 | ||||||
Ending balance at Oct. 31, 2021 | $ 0 | ||||||
Beginning balance (in shares) at Jul. 31, 2021 | 300,584,903 | ||||||
Beginning balance at Jul. 31, 2021 | $ 4,964,965 | $ 30 | 6,596,154 | 1,141 | (1,632,360) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Issuance of common stock upon exercise of stock options (in shares) | 4,222,037 | 4,222,037 | |||||
Issuance of common stock upon exercise of stock options | $ 24,708 | 24,708 | |||||
Issuance of common stock under employee stock purchase plan (in shares) | 111,645 | ||||||
Issuance of common stock under employee stock purchase plan | 25,829 | 25,829 | |||||
Vesting of early exercised stock options and restricted common stock | 191 | 191 | |||||
Vesting of restricted stock units (in shares) | 980,901 | ||||||
Stock-based compensation | 150,472 | 150,472 | |||||
Other comprehensive income (loss) | (4,627) | (4,627) | |||||
Net loss | (154,856) | (154,856) | |||||
Ending balance (in shares) at Oct. 31, 2021 | [1] | 305,899,486 | |||||
Ending balance at Oct. 31, 2021 | $ 5,006,682 | $ 30 | [1] | $ 6,797,354 | $ (3,486) | $ (1,787,216) | |
[1] | On March 1, 2021, all shares of the Company’s then-outstanding Class B common stock were automatically converted into the same number of shares of Class A common stock, pursuant to the terms of the Company’s amended and restated certificate of incorporation. No additional shares of Class B common stock will be issued following such conversion. See Note 11 for further details. |
CONDENSED CONSOLIDATED STATEM_4
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT) (PARENTHETICAL) - Redeemable Convertible Preferred Stock, Series G-1 And G-2 $ in Thousands | 9 Months Ended |
Oct. 31, 2020USD ($)$ / shares | |
Price per share (in dollars per share) | $ / shares | $ 38.77 |
Issuance costs | $ | $ 230 |
CONDENSED CONSOLIDATED STATEM_5
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Cash flows from operating activities: | ||
Net loss | $ (547,795) | $ (340,167) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 15,586 | 6,611 |
Non-cash operating lease costs | 25,895 | 24,840 |
Amortization of deferred commissions | 26,824 | 21,233 |
Stock-based compensation, net of amounts capitalized | 459,392 | 157,790 |
Net amortization of premiums on investments | 36,938 | 1,117 |
Unrealized gains on strategic investments in equity securities | (8,515) | 0 |
Other | 2,535 | 4,073 |
Changes in operating assets and liabilities, net of effect of business combinations: | ||
Accounts receivable | 39,142 | 9,221 |
Deferred commissions | (52,892) | (27,261) |
Prepaid expenses and other assets | (112,798) | (29,480) |
Accounts payable | 4,591 | (3,806) |
Accrued expenses and other liabilities | 43,106 | 22,477 |
Operating lease liabilities | (24,758) | (23,418) |
Deferred revenue | 124,030 | 111,739 |
Net cash provided by (used in) operating activities | 31,281 | (65,031) |
Cash flows from investing activities: | ||
Purchases of property and equipment | (12,209) | (24,018) |
Capitalized internal-use software development costs | (8,612) | (4,014) |
Cash paid for business combinations, net of cash acquired | 0 | (6,035) |
Purchases of intangible assets | (11,182) | (6,184) |
Purchases of investments | (3,042,396) | (1,235,020) |
Sales of investments | 407,003 | 28,705 |
Maturities and redemptions of investments | 2,610,429 | 371,528 |
Net cash used in investing activities | (56,967) | (875,038) |
Cash flows from financing activities: | ||
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs | 0 | 478,573 |
Proceeds from initial public offering and private placements, net of underwriting discounts | 0 | 4,242,284 |
Proceeds from early exercised stock options | 0 | 159 |
Proceeds from exercise of stock options | 90,444 | 31,100 |
Proceeds from issuance of common stock under the employee stock purchase plan | 52,227 | 0 |
Proceeds from repayments of a nonrecourse promissory note | 0 | 2,090 |
Repurchases of early exercised stock options | 0 | (30) |
Payments of deferred purchase consideration for business combinations | 0 | (1,164) |
Net cash provided by financing activities | 142,671 | 4,753,012 |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 21 | 0 |
Net increase in cash, cash equivalents, and restricted cash | 117,006 | 3,812,943 |
Cash, cash equivalents, and restricted cash—beginning of period | 835,193 | 141,976 |
Cash, cash equivalents, and restricted cash—end of period | 952,199 | 3,954,919 |
Supplemental disclosures of non-cash investing and financing activities: | ||
Property and equipment included in accounts payable and accrued expenses | 3,115 | 2,803 |
Stock-based compensation included in capitalized software development costs | 18,923 | 1,020 |
Vesting of early exercised stock options and restricted common stock | 615 | 3,251 |
Intangible assets included in accrued expenses and other liabilities | 4,544 | 0 |
Reconciliation of cash, cash equivalents, and restricted cash: | ||
Cash and cash equivalents | 935,217 | 3,939,925 |
Restricted cash – included in other assets and prepaid expenses and other current assets | 16,982 | 14,994 |
Total cash, cash equivalents, and restricted cash | $ 952,199 | $ 3,954,919 |
Organization and Description of
Organization and Description of Business | 9 Months Ended |
Oct. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Description of Business | Organization and Description of Business Description of Business Snowflake Inc. (Snowflake or the Company) provides a cloud-based data platform, which enables customers to consolidate data to drive meaningful business insights, build data-driven applications, and share data. The Company provides its platform through a customer-centric, consumption-based business model, only charging customers for the resources they use. Through its platform, the Company delivers the Data Cloud, an ecosystem where Snowflake customers, partners, data providers, and data consumers can break down data silos and derive value from rapidly growing data sets in secure, governed, and compliant ways. Snowflake was incorporated in the state of Delaware on July 23, 2012. |
Basis of Presentation and Summa
Basis of Presentation and Summary of Significant Accounting Policies | 9 Months Ended |
Oct. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Summary of Significant Accounting Policies | Basis of Presentation and Summary of Significant Accounting Policies Fiscal Year The Company’s fiscal year ends on January 31. For example, references to fiscal 2022 refer to the fiscal year ending January 31, 2022. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and applicable rules and regulations of the U.S. Securities and Exchange Commission (SEC) regarding interim financial reporting. Accordingly, they do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2021, which was filed with the SEC on March 31, 2021. In management’s opinion, these unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the Company’s financial position as of October 31, 2021 and the results of operations for the three and nine months ended October 31, 2021 and 2020, and cash flows for the nine months ended October 31, 2021 and 2020. The condensed balance sheet as of January 31, 2021 was derived from the audited financial statements but does not include all disclosures required by GAAP. The results of operations for the three and nine months ended October 31, 2021 are not necessarily indicative of the results to be expected for the full year or any other future interim or annual period. Principles of Consolidation The condensed consolidated financial statements include the accounts of Snowflake Inc. and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Segment Information The Company has a single operating and reportable segment. The Company’s chief operating decision maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. For information regarding the Company’s long-lived assets and revenue by geographic area, see Note 14. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Such estimates include, but are not limited to, stand-alone selling prices (SSP) for each distinct performance obligation, internal-use software development costs, expected period of benefit for deferred commissions, the useful lives of long-lived assets, the carrying value of operating lease right-of-use assets, the valuation of the Company’s common stock prior to its initial public offering (IPO) in September 2020, stock-based compensation, accounting for income taxes, and the fair value of investments in marketable and non-marketable securities. The Company bases its estimates on historical experience and also on assumptions that management considers reasonable. The Company assesses these estimates on a regular basis; however, actual results could differ from these estimates due to risks and uncertainties, including uncertainty in the current economic environment due to the COVID-19 pandemic. Summary of Significant Accounting Policies The Company’s significant accounting policies are discussed in “Note 2 – Basis of Presentation and Summary of Significant Accounting Policies” of the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2021, which was filed with the SEC on March 31, 2021. There have been no significant changes to these policies during the nine months ended October 31, 2021, except for (i) the accounting policies for accounts receivable and investments that were updated below as a result of the Company’s adoption of the Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , effective February 1, 2021, and (ii) the accounting policy for strategic investments that was updated below with respect to the Company’s strategic investment in marketable equity securities during the three months ended October 31, 2021. Accounts Receivable Accounts receivable includes billed and unbilled receivables, net of allowance for credit losses. Trade accounts receivable are recorded at invoiced amounts and do not bear interest. The allowance for credit losses is estimated based on the Company’s assessment of the collectibility of accounts receivable by considering various factors, including the age of each outstanding invoice, the collection history of each customer, historical write-off experience, current economic conditions, and reasonable and supportable forecasts of future economic conditions over the life of the receivable. The Company assesses collectibility by reviewing accounts receivable on an aggregate basis when similar characteristics exist and on an individual basis when specific customers with collectibility issues are identified. Accounts receivable deemed uncollectible are charged against the allowance for credit losses when identified. Allowance for credit losses was $0.9 million and $2.6 million as of October 31, 2021 and January 31, 2021, respectively. Investments The Company’s investments in marketable debt securities have been classified and accounted for as available-for-sale and are recorded at estimated fair value. The Company classifies its marketable debt securities as either short-term or long-term at each balance sheet date based on each instrument’s underlying contractual maturity date. Short-term investments are investments with original maturities of less than one year when purchased. For available-for-sale debt securities in an unrealized loss position, the Company first assesses whether it intends to sell or it is more likely than not that the Company will be required to sell the security before the recovery of its entire amortized cost basis. If either of these criteria is met, the security’s amortized cost basis is written down to fair value through other income (expense), net in the condensed consolidated statements of operations. If neither of these criteria is met, the Company further assesses whether the decline in fair value below amortized cost is due to credit or non-credit related factors. In making this assessment, the Company considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and any adverse conditions specifically related to the security, among other factors. Credit related unrealized losses are recognized as an allowance on the condensed consolidated balance sheets with a corresponding charge in the other income (expense), net in the condensed consolidated statements of operations. Non-credit related unrealized losses and unrealized gains on available-for-sale debt securities are included in accumulated other comprehensive income (loss). Realized gains and losses are determined based on the specific identification method and are reported in other income (expense), net in the condensed consolidated statements of operations. Strategic Investments The Company’s strategic investments consist of non-marketable equity and debt securities in privately-held companies and marketable equity securities in publicly-traded companies, in each case in which the Company does not have a controlling interest or significant influence. Strategic investments are included in other assets on the condensed consolidated balance sheets. The Company’s non-marketable equity securities are recorded at cost and adjusted for observable transactions for the same or similar investments of the same issuer (referred to as the Measurement Alternative) or impairment. For these investments, the Company recognizes remeasurement adjustments, including upward and downward adjustments, and impairments, if any, in other income (expense), net in the condensed consolidated statements of operations. Valuations of privately-held securities are inherently complex due to the lack of readily available market data and require the use of judgment. For example, determining whether an orderly transaction is for an identical or similar investment requires judgment based on the rights and obligations that attached to the securities. In determining the estimated fair value of these investments, the Company uses the most recent data available to the Company. Marketable equity securities are measured at fair value with changes in fair value recorded in other income (expense), net in the condensed consolidated statements of operations. Non-marketable debt securities are classified as available-for-sale and are recorded at their estimated fair value with changes in fair value recorded through accumulated other comprehensive income (loss). Strategic investments are subject to periodic impairment analyses, which involve an assessment of both qualitative and quantitative factors, including the investee’s financial metrics, market acceptance of the investee’s product or technology, and the rate at which the investee is using its cash. If the investment is considered impaired, the Company recognizes an impairment through other income (expense), net in the condensed consolidated statements of operations and establishes a new carrying value for the investment. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which requires a financial asset measured at amortized cost basis to be presented at the net amount expected to be collected, with further clarifications made more recently. For trade receivables, loans, and other financial instruments, the Company will be required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses, which reflects losses that are probable. Credit losses relating to available-for-sale debt securities are required to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. This guidance is effective for the Company for its fiscal year beginning February 1, 2023 and interim periods within that fiscal year, and requires a cumulative effect adjustment to the balance sheet as of the beginning of the first reporting period in which the guidance is effective. Early adoption is permitted. The Company early adopted this guidance effective February 1, 2021 on a modified retrospective basis, and the adoption did not result in any cumulative effect adjustment in its condensed consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract , which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by this new guidance. This new guidance is effective for the Company for its fiscal year beginning February 1, 2021 and interim periods within its fiscal year beginning February 1, 2022, and early adoption is permitted. The Company adopted this guidance effective February 1, 2021 on a prospective basis, and the adoption did not have a material impact on its condensed consolidated financial statements . In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by eliminating some exceptions to the general approach in ASC 740, Income Taxes (ASC 740) in order to reduce the cost and complexity of its application. This new guidance is effective for the Company for its fiscal year beginning February 1, 2022 and interim periods within its fiscal year beginning February 1, 2023, and early adoption is permitted. Most amendments within this guidance are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. The Company early adopted this guidance effective February 1, 2021, and the adoption did not have a material impact on its condensed consolidated financial statements. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers , as if it had originated the contracts. Under the current business combinations guidance, such assets and liabilities are recognized by the acquirer at fair value on the acquisition date. This new guidance is effective for the Company for its fiscal year beginning February 1, 2023 and interim periods within that fiscal year, and early adoption is permitted. The Company early adopted this guidance upon issuance to all business combinations that occur on or after the date of adoption. The adoption had no impact on the Company’s condensed consolidated financial statements as there were no acquisitions accounted for as business combinations in fiscal 2022. |
Cash Equivalents and Investment
Cash Equivalents and Investments | 9 Months Ended |
Oct. 31, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Cash Equivalents and Investments | Cash Equivalents and Investments The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands): October 31, 2021 Amortized Gross Gross Estimated Cash equivalents: Money market funds $ 581,689 $ — $ — $ 581,689 U.S. government securities 60,000 — — 60,000 Commercial paper 46,992 1 — 46,993 Certificates of deposit 27,001 1 — 27,002 Corporate notes and bonds 6,193 1 (1) 6,193 Total cash equivalents 721,875 3 (1) 721,877 Investments: Corporate notes and bonds 2,512,863 192 (3,278) 2,509,777 Commercial paper 1,066,027 82 (131) 1,065,978 U.S. government and agency securities 391,632 25 (321) 391,336 Certificates of deposit 200,382 31 (33) 200,380 Total investments 4,170,904 330 (3,763) 4,167,471 Total cash equivalents and investments $ 4,892,779 $ 333 $ (3,764) $ 4,889,348 January 31, 2021 Amortized Gross Gross Estimated Cash equivalents: Money market funds $ 334,891 $ — $ — $ 334,891 Commercial paper 242,040 2 (5) 242,037 Corporate notes and bonds 58,969 3 (2) 58,970 U.S. government securities 23,700 — — 23,700 Certificates of deposit 23,500 3 — 23,503 Total cash equivalents 683,100 8 (7) 683,101 Investments: Corporate notes and bonds 2,287,006 628 (481) 2,287,153 U.S. government and agency securities 1,016,059 250 (46) 1,016,263 Commercial paper 711,389 85 (102) 711,372 Certificates of deposit 238,278 97 (1) 238,374 Total investments 4,252,732 1,060 (630) 4,253,162 Total cash equivalents and investments $ 4,935,832 $ 1,068 $ (637) $ 4,936,263 As of October 31, 2021, the contractual maturities of the Company’s available-for-sale marketable debt securities did not exceed 36 months. The estimated fair values of available-for-sale debt securities, by remaining contractual maturity, are as follows (in thousands): October 31, 2021 Estimated Due within 1 year $ 3,095,801 Due in 1 year to 3 years 1,211,858 Total $ 4,307,659 The following table shows the fair values and the gross unrealized losses of these securities, classified by the length of time that the securities have been in a continuous unrealized loss position, and aggregated by investment types, excluding those securities classified within cash and cash equivalents on the condensed consolidated balance sheets (in thousands): October 31, 2021 Less than 12 Months 12 Months or Greater Total Fair Value Gross Fair Value Gross Fair Value Gross Cash equivalents: Commercial paper $ 17,998 $ — $ — $ — $ 17,998 $ — Corporate notes and bonds 5,058 (1) — — 5,058 (1) Total cash equivalents 23,056 (1) — — 23,056 (1) Investments: Corporate notes and bonds 2,170,442 (3,278) — — 2,170,442 (3,278) Commercial paper 449,901 (131) — — 449,901 (131) U.S. government and agency securities 230,705 (321) — — 230,705 (321) Certificates of deposit 40,844 (33) — — 40,844 (33) Total investments 2,891,892 (3,763) — — 2,891,892 (3,763) Total cash equivalents and investments $ 2,914,948 $ (3,764) $ — $ — $ 2,914,948 $ (3,764) Gross unrealized losses on the Company’s available-for-sale marketable debt securities were $0.6 million as of January 31, 2021. For available-for-sale marketable debt securities with unrealized loss positions, the Company does not intend to sell these securities and it is more likely than not that the Company will hold these securities until maturity or a recovery of the cost basis. The decline in fair value of these securities due to credit related factors was not material as of October 31, 2021 or January 31, 2021. See Note 4 for information regarding the Company’s strategic investments. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Oct. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements The Company accounts for certain of its financial assets at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows: Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. The following table presents the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis as of October 31, 2021 (in thousands): Level 1 Level 2 Total Cash equivalents: Money market funds $ 581,689 $ — $ 581,689 U.S. government securities — 60,000 60,000 Commercial paper — 46,993 46,993 Certificates of deposit — 27,002 27,002 Corporate notes and bonds — 6,193 6,193 Short-term investments: Corporate notes and bonds — 1,454,923 1,454,923 Commercial paper — 1,065,978 1,065,978 U.S. government and agency securities — 243,323 243,323 Certificates of deposit — 191,389 191,389 Long-term investments: Corporate notes and bonds — 1,054,854 1,054,854 U.S. government and agency securities — 148,013 148,013 Certificates of deposit — 8,991 8,991 Total $ 581,689 $ 4,307,659 $ 4,889,348 The following table presents the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis as of January 31, 2021 (in thousands): Level 1 Level 2 Total Cash equivalents: Money market funds $ 334,891 $ — $ 334,891 Commercial paper — 242,037 242,037 Corporate notes and bonds — 58,970 58,970 U.S. government securities — 23,700 23,700 Certificates of deposit — 23,503 23,503 Short-term investments: Corporate notes and bonds — 1,318,573 1,318,573 U.S. government and agency securities — 829,318 829,318 Commercial paper — 711,372 711,372 Certificates of deposit — 228,624 228,624 Long-term investments: Corporate notes and bonds — 968,580 968,580 U.S. government and agency securities — 186,945 186,945 Certificates of deposit — 9,750 9,750 Total $ 334,891 $ 4,601,372 $ 4,936,263 The Company determines the fair value of its security holdings based on pricing from the Company’s service providers and market prices from industry-standard independent data providers. Such market prices may be quoted prices in active markets for identical assets (Level 1 inputs) or pricing determined using inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs), such as yield curve, volatility factors, credit spreads, default rates, loss severity, current market and contractual prices for the underlying instruments or debt, broker and dealer quotes, as well as other relevant economic measures. Strategic Investments The table above does not include the Company’s strategic investments in non-marketable equity securities, which are recorded at fair value on a non-recurring basis using the Measurement Alternative, or the Company's strategic investments in marketable equity securities and non-marketable debt securities, which are recorded at fair value on a recurring basis. The non-marketable equity and debt securities that the Company holds are valued using significant unobservable inputs or data in an inactive market. As a result, the Company classifies these assets as Level 3 within the fair value hierarchy. The estimation of fair value for the Company’s non-marketable equity securities requires the use of an observable transaction price and other unobservable inputs, including the volatility, rights, and obligations of the securities the Company holds. The marketable equity securities that the Company holds are valued using the quoted market price and are classified as Level 1 within the fair value hierarchy. The following table presents the fair value hierarchy for the Company’s strategic investments measured at fair value as of October 31, 2021 (in thousands): Level 1 Level 3 Total Equity securities: Non-marketable equity securities $ — $ 101,951 $ 101,951 Marketable equity securities 20,455 — 20,455 Debt securities: Non-marketable debt securities — 2,250 2,250 Total strategic investments $ 20,455 $ 104,201 $ 124,656 The following table presents the fair value hierarchy for the Company’s strategic investments measured at fair value as of January 31, 2021 (in thousands): Level 1 Level 3 Total Non-marketable equity securities $ — $ 41,000 $ 41,000 Non-marketable debt securities — 500 500 Total strategic investments $ — $ 41,500 $ 41,500 The cumulative amount of upward adjustments recognized on the Company’s strategic investments in non-marketable equity securities was $8.1 million, all of which was recorded during the three months ended July 31, 2021. During the three and nine months ended October 31, 2021, the Company made a strategic investment of $20.0 million in marketable equity securities and recognized an unrealized gain of $0.5 million on this investment. |
Property and Equipment, Net
Property and Equipment, Net | 9 Months Ended |
Oct. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment, Net | Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): October 31, 2021 January 31, 2021 Computers, equipment, and software $ 6,642 $ 3,817 Furniture and fixtures 8,051 6,627 Leasehold improvements 51,670 41,593 Capitalized internal-use software development costs 16,030 12,855 Construction in progress 31,736 16,030 Total property and equipment 114,129 80,922 Less: accumulated depreciation and amortization (1) (19,752) (11,954) Total property and equipment, net $ 94,377 $ 68,968 ________________ (1) Includes $8.6 million and $5.5 million of accumulated amortization related to capitalized internal-use software development costs as of October 31, 2021 and January 31, 2021, respectively. Depreciation and amortization expense was $3.6 million and $9.9 million for the three and nine months ended October 31, 2021, respectively, and $2.0 million and $4.8 million for the three and nine months ended October 31, 2020, respectively. |
Intangible Assets and Goodwill
Intangible Assets and Goodwill | 9 Months Ended |
Oct. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets and Goodwill | Intangible Assets and Goodwill Intangible Assets Intangible assets, net consisted of the following (in thousands): October 31, 2021 January 31, 2021 Finite-lived intangible assets Assembled workforce $ 15,099 $ — Developed technology 11,332 11,332 Patents 8,174 7,948 Other 47 47 Total finite-lived intangible assets 34,652 19,327 Less: accumulated amortization (9,311) (3,662) Total finite-lived intangible assets, net 25,341 15,665 Infinite-lived intangible assets - trademarks 826 426 Total intangible assets, net $ 26,167 $ 16,091 During the nine months ended October 31, 2021, the Company acquired $15.1 million of assembled workforce assets with a useful life of four years, $0.4 million of infinite-lived trademark intangible assets, and $0.2 million of patents with a useful life of four years. Amortization expense of intangible assets was $1.9 million and $5.7 million for the three and nine months ended October 31, 2021, respectively, and $0.9 million and $1.9 million for the three and nine months ended October 31, 2020, respectively. As of October 31, 2021, future amortization expense is expected to be as follows (in thousands): Amount Fiscal Year Ending January 31, Remainder of 2022 $ 1,922 2023 7,687 2024 7,687 2025 6,838 2026 1,207 Total $ 25,341 Goodwill As of October 31, 2021 and January 31, 2021, goodwill was $8.4 million. No goodwill impairments were recorded for each of the three and nine months ended October 31, 2021 and 2020. |
Accrued Expenses and Other Curr
Accrued Expenses and Other Current Liabilities | 9 Months Ended |
Oct. 31, 2021 | |
Payables and Accruals [Abstract] | |
Accrued Expenses and Other Current Liabilities | Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): October 31, 2021 January 31, 2021 Accrued compensation $ 82,238 $ 62,451 Accrued third-party cloud infrastructure expenses 13,977 6,648 Employee contributions under employee stock purchase plan 11,252 22,068 Employee payroll tax withheld on employee stock transactions 10,222 1,340 Accrued professional services 8,199 6,628 Accrued taxes 6,850 4,498 Accrued purchases of property and equipment 2,550 6,718 Other 27,950 14,964 Total accrued expenses and other current liabilities $ 163,238 $ 125,315 |
Deferred Revenue and Remaining
Deferred Revenue and Remaining Performance Obligations | 9 Months Ended |
Oct. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Deferred Revenue and Remaining Performance Obligations | Deferred Revenue and Remaining Performance Obligations Revenue recognized for the three months ended October 31, 2021 from amounts included in deferred revenue as of July 31, 2021 was $255.0 million. Revenue recognized for the three months ended October 31, 2020 from amounts included in deferred revenue as of July 31, 2020 was $121.2 million. Revenue recognized for the nine months ended October 31, 2021 from amounts included in deferred revenue as of January 31, 2021 was $464.0 million. Revenue recognized for the nine months ended October 31, 2020 from amounts included in deferred revenue as of January 31, 2020 was $222.0 million. Remaining performance obligations (RPO) represent the amount of contracted future revenue that has not yet been recognized, including both deferred revenue and non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods. The Company’s RPO excludes performance obligations from on-demand arrangements as there are no minimum purchase commitments associated with these arrangements, and certain time and materials contracts that are billed in arrears. As of October 31, 2021, the Company’s RPO was $1.8 billion, of which approximately 75% was related to contracts with original terms that exceed one year. The weighted-average remaining life of the Company’s contracts with original terms that exceed one year was 2.4 years as of October 31, 2021. However, the amount and timing of revenue recognition are generally driven by customer consumption, which can extend beyond the original contract term in cases where customers are permitted to roll over unused capacity to future periods, generally upon the purchase of additional capacity at renewal. |
Commitment and Contingencies
Commitment and Contingencies | 9 Months Ended |
Oct. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Operating Leases The Company leases its facilities for office space under non-cancelable operating leases with various expiration dates through fiscal 2033. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore are not factored into the determination of lease payments. In addition, the Company subleases certain of its unoccupied facilities to third parties with various expiration dates through fiscal 2030. Such subleases have all been classified as operating leases. Sublease income is recorded as a reduction to the Company’s operating lease costs. Sublease income was $3.4 million and $9.8 million for the three and nine months ended October 31, 2021, respectively, and $3.2 million and $9.6 million for the three and nine months ended October 31, 2020, respectively. Other Contractual Commitments Other contractual commitments relate mainly to third-party cloud infrastructure agreements and subscription arrangements used to facilitate the Company’s operations at the enterprise level. There were no material contractual obligations that were entered into during the nine months ended October 31, 2021 that were outside the ordinary course of business. 401(k) Plan —The Company sponsors a 401(k) defined contribution plan covering all eligible U.S. employees. Contributions to the 401(k) plan are discretionary. The Company did not make any matching contributions to the 401(k) plan for each of the three and nine months ended October 31, 2021 and 2020. Legal Matters —The Company is involved from time to time in various claims and legal actions arising in the ordinary course of business. While it is not feasible to predict or determine the ultimate outcome of these matters, the Company believes that none of its current legal proceedings will have a material adverse effect on its financial position, results of operations, or cash flows for each of the three and nine months ended October 31, 2021 and 2020. Letters of Credit —As of October 31, 2021, the Company had a total of $17.0 million in cash collateralized letters of credit outstanding, substantially in favor of certain landlords for the Company’s leased facilities. These letters of credit renew annually and expire at various dates through fiscal 2033. Indemnification —The Company enters into indemnification provisions under agreements with other parties in the ordinary course of business, including business partners, investors, contractors, customers, and the Company’s officers, directors, and certain employees. The Company has agreed to indemnify and defend the indemnified party for claims and related losses suffered or incurred by the indemnified party from actual or threatened third-party claims due to the Company’s activities or non-compliance with certain representations and warranties made by the Company. It is not possible to determine the maximum potential loss under these indemnification provisions due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision . For each of the three and nine months ended October 31, 2021 and 2020, losses recorded in the condensed consolidated statements of operations in connection with the indemnification provisions were not material. |
Redeemable Convertible Preferre
Redeemable Convertible Preferred Stock | 9 Months Ended |
Oct. 31, 2021 | |
Temporary Equity Disclosure [Abstract] | |
Redeemable Convertible Preferred Stock | Redeemable Convertible Preferred StockDuring the nine months ended October 31, 2020, the Company issued 8,480,857 shares of Series G-1 redeemable convertible preferred stock and 3,868,970 shares of Series G-2 redeemable convertible preferred stock, each at a price of $38.77 per share. Upon completion of the IPO in September 2020, all shares of the Company’s redeemable convertible preferred stock outstanding, totaling 182,271,099, were automatically converted into an equivalent number of shares of Class B common stock on one-to-one basis and their carrying value of $1.4 billion was reclassified into stockholders’ equity. As of October 31, 2021 and January 31, 2021, there were no shares of redeemable convertible preferred stock issued and outstanding. |
Equity
Equity | 9 Months Ended |
Oct. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Equity | Equity Preferred Stock —In connection with the IPO, the Company’s amended and restated certificate of incorporation became effective, which authorized the issuance of 200,000,000 shares of undesignated preferred stock with a par value of $0.0001 per share and with rights and preferences, including voting rights, designated from time to time by the board of directors. Common Stock and Elimination of Dual-Class Structure —The Company has two classes of common stock authorized: Class A common stock and Class B common stock. In connection with the IPO, the Company’s amended and restated certificate of incorporation authorized the issuance of 2,500,000,000 shares of Class A common stock and 355,000,000 shares of Class B common stock. On March 1, 2021, all 169,538,568 shares of the Company's then-outstanding Class B common stock, par value $0.0001 per share, were automatically converted into the same number of shares of Class A common stock, par value $0.0001 per share, pursuant to the terms of the Company’s amended and restated certificate of incorporation. No additional shares of Class B common stock will be issued following such conversion. The shares of Class A common stock and Class B common stock were identical prior to the conversion, except with respect to voting, converting, and transfer rights. Prior to the conversion, each share of Class B common stock was entitled to cast ten votes per share on any matter submitted to a vote of the Company’s stockholders. As a result of the conversion, all former holders of shares of Class B common stock are now holders of shares of Class A common stock, which is entitled to only one vote per share on all matters subject to a stockholder vote. Class A and Class B common stock are referred to as common stock throughout the notes to the condensed consolidated financial statements, unless otherwise indicated. Holders of common stock are entitled to receive any dividends as may be declared from time to time by the board of directors. Prior to the conversion, shares of Class B common stock were convertible to Class A common stock at any time at the option of the stockholder, and shares of Class B common stock would automatically convert to Class A common stock upon the following: (i) sale or transfer of such share of Class B common stock; (ii) the death of the Class B common stockholder (or nine months after the date of death if the stockholder is one of the Company’s founders); and (iii) on the final conversion date, defined as the earlier to occur following an IPO of (a) the first trading day on or after the date on which the outstanding shares of Class B common stock represented less than 10% of the then outstanding Class A and Class B common stock; (b) September 15, 2027, which is the seventh anniversary of the effectiveness of the registration statement filed in connection with the IPO; or (c) the date specified by a vote of the holders of a majority of the outstanding shares of Class B common stock, voting as a single class. In addition, on March 3, 2021, the Company filed a certificate with the Secretary of State of the State of Delaware effecting the retirement of the shares of Class B common stock that were issued but no longer outstanding following the conversion. Upon the effectiveness of the certificate, the Company’s total number of authorized shares of capital stock was reduced by the retirement of 169,538,568 shares of Class B Common Stock. The Company had reserved shares of common stock for future issuance as follows: October 31, 2021 January 31, 2021 2012 Equity Incentive Plan: Options outstanding 47,781,688 64,574,656 Restricted stock units outstanding 5,034,800 7,520,474 2020 Equity Incentive Plan: Shares available for future grants 45,681,389 32,871,367 Restricted stock units outstanding 5,081,153 1,828,083 2020 Employee Stock Purchase Plan: Shares available for future grants 8,208,724 5,700,000 Total shares of common stock reserved for future issuance 111,787,754 112,494,580 In February 2020, certain third parties unaffiliated with the Company commenced an offer to purchase existing outstanding shares of the Company’s Class B common stock from certain equity holders at a price of $38.77 per share. The Company was not a party to this transaction. The transaction was completed in March 2020, and an aggregate of 8.6 million shares of the Company’s Class B common stock were transferred to these third parties. Equity Incentive Plans —In 2012, the Company’s board of directors approved the adoption of the 2012 Equity Incentive Plan (2012 Plan). The 2012 Plan provides for the grant of stock-based awards to employees, non-employee directors, and other service providers of the Company. The 2012 Plan was terminated in September 2020 in connection with the IPO but continues to govern the terms of outstanding awards that were granted prior to the termination of the 2012 Plan. No further equity awards will be granted under the 2012 Plan. With the establishment of the 2020 Equity Incentive Plan (2020 Plan) as further discussed below, upon the expiration, forfeiture, cancellation, or reacquisition of any shares common stock underlying outstanding stock-based awards granted under the 2012 Plan, an equal number of shares of Class A common stock will become available for grant under the 2020 Plan. On March 1, 2021, all shares of the Company’s then-outstanding Class B common stock were automatically converted into the same number of shares of Class A common stock. As a result of this conversion, options and restricted stock units (RSUs) that were previously denominated in shares of Class B common stock and issued under the 2012 Plan remained unchanged, except that they represent the right to receive shares of Class A common stock. In September 2020, the Company’s board of directors adopted, and its stockholders approved, the 2020 Plan, which became effective in connection with the IPO. The 2020 Plan provides for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock awards, RSU awards, performance awards and other forms of equity compensation (collectively, equity awards). A total of 34,100,000 shares of the Company’s Class A common stock have been reserved for issuance under the 2020 Plan in addition to (i) any annual automatic evergreen increases in the number of shares of Class A common stock reserved for issuance under the 2020 Plan and (ii) upon the expiration, forfeiture, cancellation, or reacquisition of any shares of Class B common stock underlying outstanding stock awards granted under the 2012 Plan, an equal number of shares of Class A common stock, such number of shares not to exceed 78,816,888. In September 2020, the Company’s board of directors adopted, and its stockholders approved, the 2020 Employee Stock Purchase Plan (2020 ESPP), which became effective in connection with the IPO. The 2020 ESPP authorizes the issuance of shares of common stock pursuant to purchase rights granted to employees. A total of 5,700,000 shares of the Company’s Class A common stock have been reserved for future issuance under the 2020 ESPP, in addition to any annual automatic evergreen increases in the number of shares of Class A common stock reserved for future issuance under the 2020 ESPP. The price at which Class A common stock is purchased under the 2020 ESPP is equal to 85% of the fair market value of a share of the Company’s Class A common stock on the first or last day of the offering period, whichever is lower. Offering periods are generally six months long and begin on March 15 and September 15 of each year, except for the first two offering periods. The initial offering period began on September 15, 2020 and ended on February 26, 2021. The second offering period began on March 1, 2021 and ended on September 14, 2021. Stock Options —Stock options granted under the 2012 Plan and the 2020 Plan (collectively, the Plans) generally vest based on continued service over four years and expire ten years from the date of grant. Certain stock options granted under the 2012 Plan are exercisable at any time following the date of grant and expire ten years from the date of grant. Stock option activity and activity regarding shares available for grant under the Plans during the nine months ended October 31, 2021 is as follows: Shares Number of Options Outstanding Weighted- Weighted-Average Remaining Contractual Life Aggregate Balance—January 31, 2021 32,871,367 64,574,656 $ 7.04 7.7 $ 17,138,896 Shares authorized 14,395,880 — Options exercised — (7,081,859) $ 5.82 Options canceled 608,303 (608,303) $ 4.70 RSUs granted (2,413,881) — RSUs forfeited 112,600 — Balance—April 30, 2021 45,574,269 56,884,494 $ 7.21 7.5 $ 12,763,483 Options exercised — (3,974,786) $ 6.15 Options canceled 659,620 (659,620) $ 8.51 RSUs granted (584,752) — RSUs forfeited 119,507 — Balance—July 31, 2021 45,768,644 52,250,088 $ 7.28 7.3 $ 13,503,560 Options exercised — (4,222,037) $ 5.85 Options canceled 246,363 (246,363) $ 8.56 RSUs granted (561,159) — RSUs forfeited 227,541 — Balance—October 31, 2021 45,681,389 47,781,688 $ 7.40 7.1 $ 16,553,557 Vested and exercisable as of October 31, 2021 24,561,457 $ 6.24 6.7 $ 8,537,609 No options were granted during the nine months ended October 31, 2021 and the weighted-average grant-date fair value of options granted during the nine months ended October 31, 2020 was $22.67. The intrinsic value of options exercised for the nine months ended October 31, 2021 and 2020 was $3.8 billion and $544.5 million, respectively. The aggregate grant-date fair value of options vested for the nine months ended October 31, 2021 and 2020 was $62.7 million and $71.0 million, respectively. Restricted Stock Awards —Restricted stock award activity during the nine months ended October 31, 2021 is as follows: Out of the Plans Number of Shares Weighted-Average Grant Date Unvested Balance—January 31, 2021 741,911 $ 2.11 Vested (90,412) $ 2.10 Unvested Balance—April 30, 2021 651,499 $ 2.11 Vested (90,414) $ 2.10 Unvested Balance—July 31, 2021 561,085 $ 2.11 Vested (90,412) $ 2.10 Unvested Balance—October 31, 2021 470,673 $ 2.11 In December 2017, the Company issued 1,250,000 shares of restricted common stock out of the 2012 Plan to an employee at $1.59 per share, payable by a promissory note. The promissory note accrued interest at the lower of 2.11% per annum or the maximum interest rate on commercial loans permissible by law and was partially secured by the underlying restricted stock. The promissory note was considered nonrecourse from an accounting standpoint, and therefore the note is not reflected in the condensed consolidated balance sheets and condensed consolidated statements of stockholders’ equity (deficit). Rather, the note and the share purchases are accounted for as stock option grants, with the related stock-based compensation measured using the Black-Scholes option-pricing model and recognized over the vesting period of five years. The associated shares are legally outstanding and included in the balance of Class B common stock outstanding in the condensed consolidated financial statements during the periods in which Class B common stock was outstanding and in the balance of Class A common stock outstanding thereafter. None of these shares of restricted common stock were considered vested before the underlying promissory note was repaid. In May and June 2020, the outstanding principal amount and all accrued interest under this promissory note of $2.1 million was repaid, and 312,500 shares of restricted common stock were unvested as of October 31, 2021. In March 2019, in connection with the acquisition of a privately-held company, the Company issued 661,635 shares of restricted common stock out of the 2012 Plan. Of the total shares issued, 215,031 shares vested on the grant date, and the remaining shares vest over four years from the grant date. The related post-acquisition stock-based compensation of $1.1 million is being amortized over the requisite service period of four years in the condensed consolidated statements of operations. As of October 31, 2021, 158,173 shares of these restricted common stock were unvested. Common Stock Subject to Repurchase —Common stock purchased pursuant to an early exercise of stock options is not deemed to be outstanding for accounting purposes until those shares vest. The consideration received for an exercise of an option is considered to be a deposit of the exercise price and the related dollar amount is recorded in other liabilities on the condensed consolidated balance sheets. The shares issued upon the early exercise of these unvested stock option awards, which are reflected as exercises in the stock option activity table above, are considered to be legally issued and outstanding on the date of exercise. Upon termination of service, the Company may repurchase unvested shares acquired through the early exercise of stock options at a price equal to the price per share paid upon the exercise of such options. There were 66,515 and 245,633 shares subject to repurchase as of October 31, 2021 and January 31, 2021, respectively, as a result of early exercised options. As of October 31, 2021 and January 31, 2021, the liabilities for common stock subject to repurchase were $0.5 million and $1.2 million, respectively, which were recorded as other liabilities on the condensed consolidated balance sheets. Modification of Early Exercised Stock Options — In connection with the termination of a former executive officer in April 2019, certain shares of his early exercised stock options were vested immediately. The remaining early exercised stock options held by him were subject to continuous vesting through April 2020 as he continued to provide service to the Company as an advisor. The acceleration and continuation of vesting were accounted for as a modification of the terms of the original award. The incremental stock-based compensation related to this modification was $16.7 million, of which $2.7 million was recognized for the nine months ended October 31, 2020. RSUs —In March 2020, the Company began granting more RSUs than options to its employees and directors. RSUs granted prior to the IPO had both service-based and performance-based vesting conditions. The service-based vesting condition for these awards is typically satisfied over four years with a cliff vesting period of one year and continued vesting quarterly thereafter. The performance-based vesting condition is satisfied on the earlier of (i) the effective date of a registration statement of the Company filed under the Securities Act for the sale of the Company’s common stock or (ii) immediately prior to the closing of a change in control of the Company. Both events were not deemed probable until consummated, and therefore, stock-based compensation related to these RSUs remained unrecognized prior to the effectiveness of the IPO. Upon the effectiveness of the IPO in September 2020, the performance-based vesting condition was satisfied, and therefore, the Company recognized cumulative stock-based compensation of $55.5 million using the accelerated attribution method for the portion of the RSU awards for which the service-based vesting condition has been fully or partially satisfied. RSUs granted after the IPO do not contain the performance-based vesting condition described above, and the related stock-based compensation is recognized on a straight-line basis over the requisite service period. RSU activity during the nine months ended October 31, 2021 was as follows: Number of Shares Weighted-Average Grant Date Unvested Balance—January 31, 2021 9,348,557 $ 125.06 Granted 2,413,881 $ 223.93 Vested (531,845) $ 40.02 Forfeited (112,600) $ 134.52 Unvested Balance—April 30, 2021 11,117,993 $ 150.50 Granted 584,752 $ 244.05 Vested (820,002) $ 78.84 Forfeited (119,507) $ 169.75 Unvested Balance—July 31, 2021 10,763,236 $ 160.83 Granted 561,159 $ 305.15 Vested (980,901) $ 99.49 Forfeited (227,541) $ 180.53 Unvested Balance—October 31, 2021 10,115,953 $ 174.34 Stock-Based Compensation — The following table summarizes the weighted-average assumptions used in estimating the fair value of stock options granted to employees and non-employees during the three and nine months ended October 31, 2020: Three Months Ended Nine Months Ended October 31, 2020 October 31, 2020 Expected term (in years) 5.9 6.0 Expected volatility 38.4 % 37.2 % Risk-free interest rate 0.4 % 1.0 % Expected dividend yield — % — % No stock options were granted during the nine months ended October 31, 2021. Expected term —For stock options considered to be “plain vanilla” options, the Company estimates the expected term based on the simplified method, which is essentially the weighted average of the vesting period and contractual term, as the Company’s historical option exercise experience does not provide a reasonable basis upon which to estimate the expected term. Expected volatility —The Company performs an analysis of using the average volatility of a peer group of representative public companies with sufficient trading history over the expected term to develop an expected volatility assumption. Risk-free interest rate —Risk-free rate is estimated based upon quoted market yields for the United States Treasury debt securities for a term consistent with the expected life of the awards in effect at the time of grant. Expected dividend yield —Because the Company has never paid and has no intention to pay cash dividends on common stock, the expected dividend yield is zero. Fair value of underlying common stock —Prior to the completion of the IPO, the board of directors considered numerous objective and subjective factors to determine the fair value of the Company’s common stock at each meeting in which awards were approved. The factors considered included, but were not limited to: (i) the results of contemporaneous independent third-party valuations of the Company’s common stock; (ii) the prices, rights, preferences, and privileges of the Company’s redeemable convertible preferred stock relative to those of its common stock; (iii) the lack of marketability of the Company’s common stock; (iv) actual operating and financial results; (v) current business conditions and projections; (vi) the likelihood of achieving a liquidity event, such as an initial public offering or sale of the Company, given prevailing market conditions; and (vii) precedent transactions involving the Company’s shares. Since the completion of the IPO, the fair value of the Company’s common stock is determined by the closing price, on the date of grant, of its common stock, which is traded on the New York Stock Exchange. The following table summarizes the assumptions used in estimating the fair value of employee stock purchase rights granted under the 2020 ESPP during the three and nine months ended October 31, 2021 and 2020: Three Months Ended October 31, Nine Months Ended October 31, 2021 2020 2021 2020 Expected term (in years) 0.5 0.5 0.5 0.5 Expected volatility 37.3 % 60.1 % 37.3% - 49.5% 60.1 % Risk-free interest rate 0.1 % 0.1 % 0.1 % 0.1 % Expected dividend yield — % — % — % — % Stock-based compensation included in the condensed consolidated statements of operations was as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2021 2020 2021 2020 Cost of revenue $ 21,163 $ 13,226 $ 66,380 $ 15,507 Sales and marketing 43,074 39,481 141,463 49,714 Research and development 56,142 39,368 174,788 49,186 General and administrative 24,008 27,066 76,761 43,383 Stock-based compensation, net of amounts capitalized 144,387 119,141 459,392 157,790 Capitalized stock-based compensation 6,085 284 19,322 1,020 Total stock-based compensation $ 150,472 $ 119,425 $ 478,714 $ 158,810 As of October 31, 2021, total compensation cost related to unvested stock-based awards not yet recognized was $1.5 billion, which will be recognized over a weighted-average period of 3.1 years. |
Income Taxes
Income Taxes | 9 Months Ended |
Oct. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The Company computes its tax provision for interim periods by applying the estimated annual effective tax rate to year-to-date pre-tax income from recurring operations and adjusting for discrete tax items arising in that quarter. The Company had an effective tax rate of (0.8%) and (0.3%) for the three and nine months ended October 31, 2021, respectively, and (0.3%) and (0.2%) for the three and nine months ended October 31, 2020, respectively. The Company has incurred U.S. operating losses and has minimal profits in foreign jurisdictions. The Company has evaluated all available evidence, both positive and negative, including historical levels of income and expectations and risks associated with estimates of future taxable income, and has determined that it is more likely than not that its net deferred tax assets will not be realized in the United States and the United Kingdom. Due to uncertainties surrounding the realization of the deferred tax assets, the Company maintains a full valuation allowance against its net deferred tax assets. The Company is subject to income taxes in the United States and numerous foreign jurisdictions. As of October 31, 2021, tax years 2012 and forward generally remain open for examination for U.S. federal and state tax purposes, and tax years 2017 and forward generally remain open for examination for foreign tax purposes. The Company has applied ASC 740 and determined that it has uncertain tax positions giving rise to unrecognized tax benefits for each of the three and nine months ended October 31, 2021 and 2020. The Company’s policy is to recognize interest and penalties related to uncertain tax positions in income tax expense. The Company does not anticipate any significant changes to unrecognized tax benefits over the next 12 months. None of the unrecognized tax benefits are currently expected to impact the Company’s effective tax rate, if realized, as a result of the full valuation allowance. |
Net Loss per Share
Net Loss per Share | 9 Months Ended |
Oct. 31, 2021 | |
Earnings Per Share [Abstract] | |
Net Loss per Share | Net Loss per Share Basic and diluted net loss per share attributable to common stockholders is computed in conformity with the two-class method required for participating securities. Prior to the automatic conversion of all of its redeemable convertible preferred stock outstanding into Class B common stock upon the completion of the IPO, the Company considered all series of its redeemable convertible preferred stock and unvested common stock to be participating securities as the holders of such stock have the right to receive nonforfeitable dividends on a pari passu basis in the event that a dividend is declared on common stock. Under the two-class method, net loss is not allocated to the redeemable convertible preferred stock as the preferred stockholders do not have a contractual obligation to share in the Company’s losses. Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potentially dilutive common stock equivalents to the extent they are dilutive. For purposes of this calculation, redeemable convertible preferred stock, stock options, restricted stock awards, RSUs, employee stock purchase rights under the 2020 ESPP, early exercised stock options, and common stock warrants are considered to be common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is anti-dilutive for all periods presented. The rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting, converting, 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 loss per share attributable to common stockholders are, therefore, the same for both Class A and Class B common stock on both individual and combined basis. As discussed above in Note 11, on March 1, 2021, all 169,538,568 shares of the Company's then-outstanding Class B common stock, par value $0.0001 per share, were automatically converted into the same number of shares of Class A common stock, par value $0.0001 per share, pursuant to the terms of the Company’s amended and restated certificate of incorporation. No additional shares of Class B common stock will be issued following such conversion. In addition, on March 3, 2021, the Company filed a certificate with the Secretary of State of the State of Delaware effecting the retirement of the shares of Class B common stock that were issued but no longer outstanding following the conversion. The following table presents the calculation of basic and diluted net loss per share (in thousands, except share and per share data): Three Months Ended October 31, Nine Months Ended October 31, 2021 2020 2021 2020 Numerator: Net loss attributable to Class A and Class B common stockholders $ (154,856) $ (168,889) $ (547,795) $ (340,167) Denominator: Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders – basic and diluted 303,006,685 166,868,200 297,435,637 93,763,599 Net loss per share attributable to Class A and Class B common stockholders – basic and diluted $ (0.51) $ (1.01) $ (1.84) $ (3.63) The following potentially dilutive securities were excluded from the computation of diluted net loss per share calculations for the periods presented because the impact of including them would have been anti-dilutive: October 31, 2021 2020 Stock options 47,781,688 69,634,367 Shares subject to repurchase 537,188 1,171,124 RSUs 10,115,953 7,616,097 Employee stock purchase rights under the 2020 ESPP 40,039 85,922 Total 58,474,868 78,507,510 |
Geographic Information
Geographic Information | 9 Months Ended |
Oct. 31, 2021 | |
Segment Reporting [Abstract] | |
Geographic Information | Geographic Information Revenue by geographic area, based on the location of the Company’s customers, was as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2021 2020 2021 2020 United States $ 265,605 $ 135,427 $ 669,172 $ 341,892 Other (1) 68,836 24,197 166,381 59,692 Total $ 334,441 $ 159,624 $ 835,553 $ 401,584 ________________ (1) No other individual country accounted for more than 10% of the Company’s revenue for all periods presented. Long-lived assets, comprising property and equipment, net and operating lease right-of-use assets, by geographic area were as follows (in thousands): October 31, 2021 January 31, 2021 United States $ 268,546 $ 247,457 Other 9,888 8,329 Total $ 278,434 $ 255,786 |
Subsequent Events
Subsequent Events | 9 Months Ended |
Oct. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent EventsIn November 2021, certain non-marketable equity security investees of the Company raised additional funding in orderly transactions. As a result of these observable transactions, and absent any impairment or further adjustments under the Measurement Alternative that may arise, the Company expects to recognize aggregate non-cash gains of approximately $20 million on these investees’ non-marketable equity securities during the three months ended January 31, 2022. |
Basis of Presentation and Sum_2
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Oct. 31, 2021 | |
Accounting Policies [Abstract] | |
Fiscal Year | Fiscal Year The Company’s fiscal year ends on January 31. For example, references to fiscal 2022 refer to the fiscal year ending January 31, 2022. |
Basis of Presentation | Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and applicable rules and regulations of the U.S. Securities and Exchange Commission (SEC) regarding interim financial reporting. Accordingly, they do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with GAAP. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2021, which was filed with the SEC on March 31, 2021. |
Principles of Consolidation | Principles of Consolidation The condensed consolidated financial statements include the accounts of Snowflake Inc. and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. |
Segment Information | Segment InformationThe Company has a single operating and reportable segment. The Company’s chief operating decision maker is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. |
Use of Estimates | Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Such estimates include, but are not limited to, stand-alone selling prices (SSP) for each distinct performance obligation, internal-use software development costs, expected period of benefit for deferred commissions, the useful lives of long-lived assets, the carrying value of operating lease right-of-use assets, the valuation of the Company’s common stock prior to its initial public offering (IPO) in September 2020, stock-based compensation, accounting for income taxes, and the fair value of investments in marketable and non-marketable securities. The Company bases its estimates on historical experience and also on assumptions that management considers reasonable. The Company assesses these estimates on a regular basis; however, actual results could differ from these estimates due to risks and uncertainties, including uncertainty in the current economic environment due to the COVID-19 pandemic. |
Accounts Receivable | Accounts ReceivableAccounts receivable includes billed and unbilled receivables, net of allowance for credit losses. Trade accounts receivable are recorded at invoiced amounts and do not bear interest. The allowance for credit losses is estimated based on the Company’s assessment of the collectibility of accounts receivable by considering various factors, including the age of each outstanding invoice, the collection history of each customer, historical write-off experience, current economic conditions, and reasonable and supportable forecasts of future economic conditions over the life of the receivable. The Company assesses collectibility by reviewing accounts receivable on an aggregate basis when similar characteristics exist and on an individual basis when specific customers with collectibility issues are identified. Accounts receivable deemed uncollectible are charged against the allowance for credit losses when identified. |
Investments and Strategic Investments | Investments The Company’s investments in marketable debt securities have been classified and accounted for as available-for-sale and are recorded at estimated fair value. The Company classifies its marketable debt securities as either short-term or long-term at each balance sheet date based on each instrument’s underlying contractual maturity date. Short-term investments are investments with original maturities of less than one year when purchased. For available-for-sale debt securities in an unrealized loss position, the Company first assesses whether it intends to sell or it is more likely than not that the Company will be required to sell the security before the recovery of its entire amortized cost basis. If either of these criteria is met, the security’s amortized cost basis is written down to fair value through other income (expense), net in the condensed consolidated statements of operations. If neither of these criteria is met, the Company further assesses whether the decline in fair value below amortized cost is due to credit or non-credit related factors. In making this assessment, the Company considers the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and any adverse conditions specifically related to the security, among other factors. Credit related unrealized losses are recognized as an allowance on the condensed consolidated balance sheets with a corresponding charge in the other income (expense), net in the condensed consolidated statements of operations. Non-credit related unrealized losses and unrealized gains on available-for-sale debt securities are included in accumulated other comprehensive income (loss). Realized gains and losses are determined based on the specific identification method and are reported in other income (expense), net in the condensed consolidated statements of operations. Strategic Investments The Company’s strategic investments consist of non-marketable equity and debt securities in privately-held companies and marketable equity securities in publicly-traded companies, in each case in which the Company does not have a controlling interest or significant influence. Strategic investments are included in other assets on the condensed consolidated balance sheets. The Company’s non-marketable equity securities are recorded at cost and adjusted for observable transactions for the same or similar investments of the same issuer (referred to as the Measurement Alternative) or impairment. For these investments, the Company recognizes remeasurement adjustments, including upward and downward adjustments, and impairments, if any, in other income (expense), net in the condensed consolidated statements of operations. Valuations of privately-held securities are inherently complex due to the lack of readily available market data and require the use of judgment. For example, determining whether an orderly transaction is for an identical or similar investment requires judgment based on the rights and obligations that attached to the securities. In determining the estimated fair value of these investments, the Company uses the most recent data available to the Company. Marketable equity securities are measured at fair value with changes in fair value recorded in other income (expense), net in the condensed consolidated statements of operations. Non-marketable debt securities are classified as available-for-sale and are recorded at their estimated fair value with changes in fair value recorded through accumulated other comprehensive income (loss). Strategic investments are subject to periodic impairment analyses, which involve an assessment of both qualitative and quantitative factors, including the investee’s financial metrics, market acceptance of the investee’s product or technology, and the rate at which the investee is using its cash. If the investment is considered impaired, the Company recognizes an impairment through other income (expense), net in the condensed consolidated statements of operations and establishes a new carrying value for the investment. The table above does not include the Company’s strategic investments in non-marketable equity securities, which are recorded at fair value on a non-recurring basis using the Measurement Alternative, or the Company's strategic investments in marketable equity securities and non-marketable debt securities, which are recorded at fair value on a recurring basis. The non-marketable equity and debt securities that the Company holds are valued using significant unobservable inputs or data in an inactive market. As a result, the Company classifies these assets as Level 3 within the fair value hierarchy. The estimation of fair value for the Company’s non-marketable equity securities requires the use of an observable transaction price and other unobservable inputs, including the volatility, rights, and obligations of the securities the Company holds. The marketable equity securities that the Company holds are valued using the quoted market price and are classified as Level 1 within the fair value hierarchy. |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which requires a financial asset measured at amortized cost basis to be presented at the net amount expected to be collected, with further clarifications made more recently. For trade receivables, loans, and other financial instruments, the Company will be required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses, which reflects losses that are probable. Credit losses relating to available-for-sale debt securities are required to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. This guidance is effective for the Company for its fiscal year beginning February 1, 2023 and interim periods within that fiscal year, and requires a cumulative effect adjustment to the balance sheet as of the beginning of the first reporting period in which the guidance is effective. Early adoption is permitted. The Company early adopted this guidance effective February 1, 2021 on a modified retrospective basis, and the adoption did not result in any cumulative effect adjustment in its condensed consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract , which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by this new guidance. This new guidance is effective for the Company for its fiscal year beginning February 1, 2021 and interim periods within its fiscal year beginning February 1, 2022, and early adoption is permitted. The Company adopted this guidance effective February 1, 2021 on a prospective basis, and the adoption did not have a material impact on its condensed consolidated financial statements . In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by eliminating some exceptions to the general approach in ASC 740, Income Taxes (ASC 740) in order to reduce the cost and complexity of its application. This new guidance is effective for the Company for its fiscal year beginning February 1, 2022 and interim periods within its fiscal year beginning February 1, 2023, and early adoption is permitted. Most amendments within this guidance are required to be applied on a prospective basis, while certain amendments must be applied on a retrospective or modified retrospective basis. The Company early adopted this guidance effective February 1, 2021, and the adoption did not have a material impact on its condensed consolidated financial statements. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers , as if it had originated the contracts. Under the current business combinations guidance, such assets and liabilities are recognized by the acquirer at fair value on the acquisition date. This new guidance is effective for the Company for its fiscal year beginning February 1, 2023 and interim periods within that fiscal year, and early adoption is permitted. The Company early adopted this guidance upon issuance to all business combinations that occur on or after the date of adoption. The adoption had no impact on the Company’s condensed consolidated financial statements as there were no acquisitions accounted for as business combinations in fiscal 2022. |
Fair Value Measurements | Fair Value Measurements The Company accounts for certain of its financial assets at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows: Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. |
Revenue Recognition | Remaining performance obligations (RPO) represent the amount of contracted future revenue that has not yet been recognized, including both deferred revenue and non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods. The Company’s RPO excludes performance obligations from on-demand arrangements as there are no minimum purchase commitments associated with these arrangements, and certain time and materials contracts that are billed in arrears.However, the amount and timing of revenue recognition are generally driven by customer consumption, which can extend beyond the original contract term in cases where customers are permitted to roll over unused capacity to future periods, generally upon the purchase of additional capacity at renewal. |
Net Loss per Share | Net Loss per Share Basic and diluted net loss per share attributable to common stockholders is computed in conformity with the two-class method required for participating securities. Prior to the automatic conversion of all of its redeemable convertible preferred stock outstanding into Class B common stock upon the completion of the IPO, the Company considered all series of its redeemable convertible preferred stock and unvested common stock to be participating securities as the holders of such stock have the right to receive nonforfeitable dividends on a pari passu basis in the event that a dividend is declared on common stock. Under the two-class method, net loss is not allocated to the redeemable convertible preferred stock as the preferred stockholders do not have a contractual obligation to share in the Company’s losses. Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potentially dilutive common stock equivalents to the extent they are dilutive. For purposes of this calculation, redeemable convertible preferred stock, stock options, restricted stock awards, RSUs, employee stock purchase rights under the 2020 ESPP, early exercised stock options, and common stock warrants are considered to be common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is anti-dilutive for all periods presented. The rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting, converting, 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 loss per share attributable to common stockholders are, therefore, the same for both Class A and Class B common stock on both individual and combined basis. As discussed above in Note 11, on March 1, 2021, all 169,538,568 shares of the Company's then-outstanding Class B common stock, par value $0.0001 per share, were automatically converted into the same number of shares of Class A common stock, par value $0.0001 per share, pursuant to the terms of the Company’s amended and restated certificate of incorporation. No additional shares of Class B common stock will be issued following such conversion. In addition, on March 3, 2021, the Company filed a certificate with the Secretary of State of the State of Delaware effecting the retirement of the shares of Class B common stock that were issued but no longer outstanding following the conversion. |
Cash Equivalents and Investme_2
Cash Equivalents and Investments (Tables) | 9 Months Ended |
Oct. 31, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Cash Equivalents and Investments | The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands): October 31, 2021 Amortized Gross Gross Estimated Cash equivalents: Money market funds $ 581,689 $ — $ — $ 581,689 U.S. government securities 60,000 — — 60,000 Commercial paper 46,992 1 — 46,993 Certificates of deposit 27,001 1 — 27,002 Corporate notes and bonds 6,193 1 (1) 6,193 Total cash equivalents 721,875 3 (1) 721,877 Investments: Corporate notes and bonds 2,512,863 192 (3,278) 2,509,777 Commercial paper 1,066,027 82 (131) 1,065,978 U.S. government and agency securities 391,632 25 (321) 391,336 Certificates of deposit 200,382 31 (33) 200,380 Total investments 4,170,904 330 (3,763) 4,167,471 Total cash equivalents and investments $ 4,892,779 $ 333 $ (3,764) $ 4,889,348 January 31, 2021 Amortized Gross Gross Estimated Cash equivalents: Money market funds $ 334,891 $ — $ — $ 334,891 Commercial paper 242,040 2 (5) 242,037 Corporate notes and bonds 58,969 3 (2) 58,970 U.S. government securities 23,700 — — 23,700 Certificates of deposit 23,500 3 — 23,503 Total cash equivalents 683,100 8 (7) 683,101 Investments: Corporate notes and bonds 2,287,006 628 (481) 2,287,153 U.S. government and agency securities 1,016,059 250 (46) 1,016,263 Commercial paper 711,389 85 (102) 711,372 Certificates of deposit 238,278 97 (1) 238,374 Total investments 4,252,732 1,060 (630) 4,253,162 Total cash equivalents and investments $ 4,935,832 $ 1,068 $ (637) $ 4,936,263 |
Schedule of Cash Equivalents and Investments | The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands): October 31, 2021 Amortized Gross Gross Estimated Cash equivalents: Money market funds $ 581,689 $ — $ — $ 581,689 U.S. government securities 60,000 — — 60,000 Commercial paper 46,992 1 — 46,993 Certificates of deposit 27,001 1 — 27,002 Corporate notes and bonds 6,193 1 (1) 6,193 Total cash equivalents 721,875 3 (1) 721,877 Investments: Corporate notes and bonds 2,512,863 192 (3,278) 2,509,777 Commercial paper 1,066,027 82 (131) 1,065,978 U.S. government and agency securities 391,632 25 (321) 391,336 Certificates of deposit 200,382 31 (33) 200,380 Total investments 4,170,904 330 (3,763) 4,167,471 Total cash equivalents and investments $ 4,892,779 $ 333 $ (3,764) $ 4,889,348 January 31, 2021 Amortized Gross Gross Estimated Cash equivalents: Money market funds $ 334,891 $ — $ — $ 334,891 Commercial paper 242,040 2 (5) 242,037 Corporate notes and bonds 58,969 3 (2) 58,970 U.S. government securities 23,700 — — 23,700 Certificates of deposit 23,500 3 — 23,503 Total cash equivalents 683,100 8 (7) 683,101 Investments: Corporate notes and bonds 2,287,006 628 (481) 2,287,153 U.S. government and agency securities 1,016,059 250 (46) 1,016,263 Commercial paper 711,389 85 (102) 711,372 Certificates of deposit 238,278 97 (1) 238,374 Total investments 4,252,732 1,060 (630) 4,253,162 Total cash equivalents and investments $ 4,935,832 $ 1,068 $ (637) $ 4,936,263 |
Schedule of Available For Sale Securities Remaining Contractual Maturity | The estimated fair values of available-for-sale debt securities, by remaining contractual maturity, are as follows (in thousands): October 31, 2021 Estimated Due within 1 year $ 3,095,801 Due in 1 year to 3 years 1,211,858 Total $ 4,307,659 |
Schedule of Unrealized Loss on Investments | The following table shows the fair values and the gross unrealized losses of these securities, classified by the length of time that the securities have been in a continuous unrealized loss position, and aggregated by investment types, excluding those securities classified within cash and cash equivalents on the condensed consolidated balance sheets (in thousands): October 31, 2021 Less than 12 Months 12 Months or Greater Total Fair Value Gross Fair Value Gross Fair Value Gross Cash equivalents: Commercial paper $ 17,998 $ — $ — $ — $ 17,998 $ — Corporate notes and bonds 5,058 (1) — — 5,058 (1) Total cash equivalents 23,056 (1) — — 23,056 (1) Investments: Corporate notes and bonds 2,170,442 (3,278) — — 2,170,442 (3,278) Commercial paper 449,901 (131) — — 449,901 (131) U.S. government and agency securities 230,705 (321) — — 230,705 (321) Certificates of deposit 40,844 (33) — — 40,844 (33) Total investments 2,891,892 (3,763) — — 2,891,892 (3,763) Total cash equivalents and investments $ 2,914,948 $ (3,764) $ — $ — $ 2,914,948 $ (3,764) |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Oct. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value Measurements | The following table presents the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis as of October 31, 2021 (in thousands): Level 1 Level 2 Total Cash equivalents: Money market funds $ 581,689 $ — $ 581,689 U.S. government securities — 60,000 60,000 Commercial paper — 46,993 46,993 Certificates of deposit — 27,002 27,002 Corporate notes and bonds — 6,193 6,193 Short-term investments: Corporate notes and bonds — 1,454,923 1,454,923 Commercial paper — 1,065,978 1,065,978 U.S. government and agency securities — 243,323 243,323 Certificates of deposit — 191,389 191,389 Long-term investments: Corporate notes and bonds — 1,054,854 1,054,854 U.S. government and agency securities — 148,013 148,013 Certificates of deposit — 8,991 8,991 Total $ 581,689 $ 4,307,659 $ 4,889,348 The following table presents the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis as of January 31, 2021 (in thousands): Level 1 Level 2 Total Cash equivalents: Money market funds $ 334,891 $ — $ 334,891 Commercial paper — 242,037 242,037 Corporate notes and bonds — 58,970 58,970 U.S. government securities — 23,700 23,700 Certificates of deposit — 23,503 23,503 Short-term investments: Corporate notes and bonds — 1,318,573 1,318,573 U.S. government and agency securities — 829,318 829,318 Commercial paper — 711,372 711,372 Certificates of deposit — 228,624 228,624 Long-term investments: Corporate notes and bonds — 968,580 968,580 U.S. government and agency securities — 186,945 186,945 Certificates of deposit — 9,750 9,750 Total $ 334,891 $ 4,601,372 $ 4,936,263 The following table presents the fair value hierarchy for the Company’s strategic investments measured at fair value as of October 31, 2021 (in thousands): Level 1 Level 3 Total Equity securities: Non-marketable equity securities $ — $ 101,951 $ 101,951 Marketable equity securities 20,455 — 20,455 Debt securities: Non-marketable debt securities — 2,250 2,250 Total strategic investments $ 20,455 $ 104,201 $ 124,656 The following table presents the fair value hierarchy for the Company’s strategic investments measured at fair value as of January 31, 2021 (in thousands): Level 1 Level 3 Total Non-marketable equity securities $ — $ 41,000 $ 41,000 Non-marketable debt securities — 500 500 Total strategic investments $ — $ 41,500 $ 41,500 |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 9 Months Ended |
Oct. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property and Equipment, Net | Property and equipment, net consisted of the following (in thousands): October 31, 2021 January 31, 2021 Computers, equipment, and software $ 6,642 $ 3,817 Furniture and fixtures 8,051 6,627 Leasehold improvements 51,670 41,593 Capitalized internal-use software development costs 16,030 12,855 Construction in progress 31,736 16,030 Total property and equipment 114,129 80,922 Less: accumulated depreciation and amortization (1) (19,752) (11,954) Total property and equipment, net $ 94,377 $ 68,968 ________________ (1) Includes $8.6 million and $5.5 million of accumulated amortization related to capitalized internal-use software development costs as of October 31, 2021 and January 31, 2021, respectively. |
Intangible Assets and Goodwill
Intangible Assets and Goodwill (Tables) | 9 Months Ended |
Oct. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets | Intangible assets, net consisted of the following (in thousands): October 31, 2021 January 31, 2021 Finite-lived intangible assets Assembled workforce $ 15,099 $ — Developed technology 11,332 11,332 Patents 8,174 7,948 Other 47 47 Total finite-lived intangible assets 34,652 19,327 Less: accumulated amortization (9,311) (3,662) Total finite-lived intangible assets, net 25,341 15,665 Infinite-lived intangible assets - trademarks 826 426 Total intangible assets, net $ 26,167 $ 16,091 |
Schedule of Future Amortization Expense | As of October 31, 2021, future amortization expense is expected to be as follows (in thousands): Amount Fiscal Year Ending January 31, Remainder of 2022 $ 1,922 2023 7,687 2024 7,687 2025 6,838 2026 1,207 Total $ 25,341 |
Accrued Expenses and Other Cu_2
Accrued Expenses and Other Current Liabilities (Tables) | 9 Months Ended |
Oct. 31, 2021 | |
Payables and Accruals [Abstract] | |
Schedule of Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities consisted of the following (in thousands): October 31, 2021 January 31, 2021 Accrued compensation $ 82,238 $ 62,451 Accrued third-party cloud infrastructure expenses 13,977 6,648 Employee contributions under employee stock purchase plan 11,252 22,068 Employee payroll tax withheld on employee stock transactions 10,222 1,340 Accrued professional services 8,199 6,628 Accrued taxes 6,850 4,498 Accrued purchases of property and equipment 2,550 6,718 Other 27,950 14,964 Total accrued expenses and other current liabilities $ 163,238 $ 125,315 |
Equity (Tables)
Equity (Tables) | 9 Months Ended |
Oct. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Schedule of Shares Reserved For Future Issuance | The Company had reserved shares of common stock for future issuance as follows: October 31, 2021 January 31, 2021 2012 Equity Incentive Plan: Options outstanding 47,781,688 64,574,656 Restricted stock units outstanding 5,034,800 7,520,474 2020 Equity Incentive Plan: Shares available for future grants 45,681,389 32,871,367 Restricted stock units outstanding 5,081,153 1,828,083 2020 Employee Stock Purchase Plan: Shares available for future grants 8,208,724 5,700,000 Total shares of common stock reserved for future issuance 111,787,754 112,494,580 |
Option Activity Rollforward | Stock option activity and activity regarding shares available for grant under the Plans during the nine months ended October 31, 2021 is as follows: Shares Number of Options Outstanding Weighted- Weighted-Average Remaining Contractual Life Aggregate Balance—January 31, 2021 32,871,367 64,574,656 $ 7.04 7.7 $ 17,138,896 Shares authorized 14,395,880 — Options exercised — (7,081,859) $ 5.82 Options canceled 608,303 (608,303) $ 4.70 RSUs granted (2,413,881) — RSUs forfeited 112,600 — Balance—April 30, 2021 45,574,269 56,884,494 $ 7.21 7.5 $ 12,763,483 Options exercised — (3,974,786) $ 6.15 Options canceled 659,620 (659,620) $ 8.51 RSUs granted (584,752) — RSUs forfeited 119,507 — Balance—July 31, 2021 45,768,644 52,250,088 $ 7.28 7.3 $ 13,503,560 Options exercised — (4,222,037) $ 5.85 Options canceled 246,363 (246,363) $ 8.56 RSUs granted (561,159) — RSUs forfeited 227,541 — Balance—October 31, 2021 45,681,389 47,781,688 $ 7.40 7.1 $ 16,553,557 Vested and exercisable as of October 31, 2021 24,561,457 $ 6.24 6.7 $ 8,537,609 |
Option Rollforward Schedule | Stock option activity and activity regarding shares available for grant under the Plans during the nine months ended October 31, 2021 is as follows: Shares Number of Options Outstanding Weighted- Weighted-Average Remaining Contractual Life Aggregate Balance—January 31, 2021 32,871,367 64,574,656 $ 7.04 7.7 $ 17,138,896 Shares authorized 14,395,880 — Options exercised — (7,081,859) $ 5.82 Options canceled 608,303 (608,303) $ 4.70 RSUs granted (2,413,881) — RSUs forfeited 112,600 — Balance—April 30, 2021 45,574,269 56,884,494 $ 7.21 7.5 $ 12,763,483 Options exercised — (3,974,786) $ 6.15 Options canceled 659,620 (659,620) $ 8.51 RSUs granted (584,752) — RSUs forfeited 119,507 — Balance—July 31, 2021 45,768,644 52,250,088 $ 7.28 7.3 $ 13,503,560 Options exercised — (4,222,037) $ 5.85 Options canceled 246,363 (246,363) $ 8.56 RSUs granted (561,159) — RSUs forfeited 227,541 — Balance—October 31, 2021 45,681,389 47,781,688 $ 7.40 7.1 $ 16,553,557 Vested and exercisable as of October 31, 2021 24,561,457 $ 6.24 6.7 $ 8,537,609 |
Schedule of Unvested RSA Rollforward | Restricted Stock Awards —Restricted stock award activity during the nine months ended October 31, 2021 is as follows: Out of the Plans Number of Shares Weighted-Average Grant Date Unvested Balance—January 31, 2021 741,911 $ 2.11 Vested (90,412) $ 2.10 Unvested Balance—April 30, 2021 651,499 $ 2.11 Vested (90,414) $ 2.10 Unvested Balance—July 31, 2021 561,085 $ 2.11 Vested (90,412) $ 2.10 Unvested Balance—October 31, 2021 470,673 $ 2.11 |
Schedule of Unvested RSU Rollforward | RSU activity during the nine months ended October 31, 2021 was as follows: Number of Shares Weighted-Average Grant Date Unvested Balance—January 31, 2021 9,348,557 $ 125.06 Granted 2,413,881 $ 223.93 Vested (531,845) $ 40.02 Forfeited (112,600) $ 134.52 Unvested Balance—April 30, 2021 11,117,993 $ 150.50 Granted 584,752 $ 244.05 Vested (820,002) $ 78.84 Forfeited (119,507) $ 169.75 Unvested Balance—July 31, 2021 10,763,236 $ 160.83 Granted 561,159 $ 305.15 Vested (980,901) $ 99.49 Forfeited (227,541) $ 180.53 Unvested Balance—October 31, 2021 10,115,953 $ 174.34 |
Valuation Assumptions Schedule | The following table summarizes the weighted-average assumptions used in estimating the fair value of stock options granted to employees and non-employees during the three and nine months ended October 31, 2020: Three Months Ended Nine Months Ended October 31, 2020 October 31, 2020 Expected term (in years) 5.9 6.0 Expected volatility 38.4 % 37.2 % Risk-free interest rate 0.4 % 1.0 % Expected dividend yield — % — % |
Valuation Assumptions Other Than Stock Options Schedule | The following table summarizes the assumptions used in estimating the fair value of employee stock purchase rights granted under the 2020 ESPP during the three and nine months ended October 31, 2021 and 2020: Three Months Ended October 31, Nine Months Ended October 31, 2021 2020 2021 2020 Expected term (in years) 0.5 0.5 0.5 0.5 Expected volatility 37.3 % 60.1 % 37.3% - 49.5% 60.1 % Risk-free interest rate 0.1 % 0.1 % 0.1 % 0.1 % Expected dividend yield — % — % — % — % |
Share-based Compensation Schedule | Stock-based compensation included in the condensed consolidated statements of operations was as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2021 2020 2021 2020 Cost of revenue $ 21,163 $ 13,226 $ 66,380 $ 15,507 Sales and marketing 43,074 39,481 141,463 49,714 Research and development 56,142 39,368 174,788 49,186 General and administrative 24,008 27,066 76,761 43,383 Stock-based compensation, net of amounts capitalized 144,387 119,141 459,392 157,790 Capitalized stock-based compensation 6,085 284 19,322 1,020 Total stock-based compensation $ 150,472 $ 119,425 $ 478,714 $ 158,810 |
Net Loss per Share (Tables)
Net Loss per Share (Tables) | 9 Months Ended |
Oct. 31, 2021 | |
Earnings Per Share [Abstract] | |
Schedule of Basic and Diluted Net Loss per Share | The following table presents the calculation of basic and diluted net loss per share (in thousands, except share and per share data): Three Months Ended October 31, Nine Months Ended October 31, 2021 2020 2021 2020 Numerator: Net loss attributable to Class A and Class B common stockholders $ (154,856) $ (168,889) $ (547,795) $ (340,167) Denominator: Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders – basic and diluted 303,006,685 166,868,200 297,435,637 93,763,599 Net loss per share attributable to Class A and Class B common stockholders – basic and diluted $ (0.51) $ (1.01) $ (1.84) $ (3.63) |
Schedule of Potentially Dilutive Securities Excluded from Computation of Net Loss per Share | The following potentially dilutive securities were excluded from the computation of diluted net loss per share calculations for the periods presented because the impact of including them would have been anti-dilutive: October 31, 2021 2020 Stock options 47,781,688 69,634,367 Shares subject to repurchase 537,188 1,171,124 RSUs 10,115,953 7,616,097 Employee stock purchase rights under the 2020 ESPP 40,039 85,922 Total 58,474,868 78,507,510 |
Geographic Information (Tables)
Geographic Information (Tables) | 9 Months Ended |
Oct. 31, 2021 | |
Segment Reporting [Abstract] | |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | Revenue by geographic area, based on the location of the Company’s customers, was as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2021 2020 2021 2020 United States $ 265,605 $ 135,427 $ 669,172 $ 341,892 Other (1) 68,836 24,197 166,381 59,692 Total $ 334,441 $ 159,624 $ 835,553 $ 401,584 ________________ (1) No other individual country accounted for more than 10% of the Company’s revenue for all periods presented. Long-lived assets, comprising property and equipment, net and operating lease right-of-use assets, by geographic area were as follows (in thousands): October 31, 2021 January 31, 2021 United States $ 268,546 $ 247,457 Other 9,888 8,329 Total $ 278,434 $ 255,786 |
Basis of Presentation and Sum_3
Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions | Oct. 31, 2021 | Jan. 31, 2021 |
Accounting Policies [Abstract] | ||
Allowance for credit losses | $ 0.9 | $ 2.6 |
Cash Equivalents and Investme_3
Cash Equivalents and Investments - Schedule of Cash and Cash Equivalents and Investments Fair Value (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Jan. 31, 2021 |
Cash equivalents: | ||
Amortized Cost | $ 721,875 | $ 683,100 |
Gross Unrealized Gains | 3 | 8 |
Gross Unrealized Losses | (1) | (7) |
Estimated Fair Value | 721,877 | 683,101 |
Investments: | ||
Amortized Cost | 4,170,904 | 4,252,732 |
Gross Unrealized Gains | 330 | 1,060 |
Gross Unrealized Losses | (3,763) | (630) |
Debt securities | 4,167,471 | 4,253,162 |
Amortized Cost | 4,892,779 | 4,935,832 |
Gross Unrealized Gains | 333 | 1,068 |
Gross Unrealized Losses | (3,764) | (637) |
Estimated Fair Value | 4,889,348 | 4,936,263 |
Corporate notes and bonds | ||
Investments: | ||
Amortized Cost | 2,512,863 | 2,287,006 |
Gross Unrealized Gains | 192 | 628 |
Gross Unrealized Losses | (3,278) | (481) |
Debt securities | 2,509,777 | 2,287,153 |
Commercial paper | ||
Investments: | ||
Amortized Cost | 1,066,027 | 711,389 |
Gross Unrealized Gains | 82 | 85 |
Gross Unrealized Losses | (131) | (102) |
Debt securities | 1,065,978 | 711,372 |
U.S. government and agency securities | ||
Investments: | ||
Amortized Cost | 391,632 | 1,016,059 |
Gross Unrealized Gains | 25 | 250 |
Gross Unrealized Losses | (321) | (46) |
Debt securities | 391,336 | 1,016,263 |
Certificates of deposit | ||
Investments: | ||
Amortized Cost | 200,382 | 238,278 |
Gross Unrealized Gains | 31 | 97 |
Gross Unrealized Losses | (33) | (1) |
Debt securities | 200,380 | 238,374 |
Money market funds | ||
Cash equivalents: | ||
Amortized Cost | 581,689 | 334,891 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 581,689 | 334,891 |
U.S. government and agency securities | ||
Cash equivalents: | ||
Amortized Cost | 60,000 | 23,700 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 60,000 | 23,700 |
Commercial paper | ||
Cash equivalents: | ||
Amortized Cost | 46,992 | 242,040 |
Gross Unrealized Gains | 1 | 2 |
Gross Unrealized Losses | 0 | (5) |
Estimated Fair Value | 46,993 | 242,037 |
Certificates of deposit | ||
Cash equivalents: | ||
Amortized Cost | 27,001 | 23,500 |
Gross Unrealized Gains | 1 | 3 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 27,002 | 23,503 |
Corporate notes and bonds | ||
Cash equivalents: | ||
Amortized Cost | 6,193 | 58,969 |
Gross Unrealized Gains | 1 | 3 |
Gross Unrealized Losses | (1) | (2) |
Estimated Fair Value | $ 6,193 | $ 58,970 |
Cash Equivalents and Investme_4
Cash Equivalents and Investments - Narrative (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Oct. 31, 2021 | Jan. 31, 2021 | |
Investments, Debt and Equity Securities [Abstract] | ||
Contractual maturities of available-for-sale debt securities, maximum | 36 months | |
Gross unrealized losses on available-for-sale debt securities | $ 3,764 | $ 637 |
Cash Equivalents and Investme_5
Cash Equivalents and Investments - Available for Sale Securities Remaining Contractual Maturity (Details) $ in Thousands | Oct. 31, 2021USD ($) |
Investments, Debt and Equity Securities [Abstract] | |
Due within 1 year | $ 3,095,801 |
Due in 1 year to 3 years | 1,211,858 |
Total | $ 4,307,659 |
Cash Equivalents and Investme_6
Cash Equivalents and Investments - Investments With Gross Unrealized Loss Positions (Details) $ in Thousands | Oct. 31, 2021USD ($) |
Cash Equivalents, Fair Value | |
Less than 12 months, fair value | $ 23,056 |
12 months or greater, fair value | 0 |
Total, fair value | 23,056 |
Cash Equivalents, Gross Unrealized Losses | |
Less than 12 months, accumulated losses | (1) |
12 months or greater, accumulated losses | 0 |
Total, accumulated losses | (1) |
Investments, Fair Value | |
Less than 12 months, fair value | 2,891,892 |
12 months or greater, fair value | 0 |
Total, fair value | 2,891,892 |
Investments, Gross Unrealized Losses | |
Less than 12 months, accumulated losses | (3,763) |
12 months or greater, accumulated losses | 0 |
Total, accumulated losses | (3,763) |
Cash Equivalents And Debt Securities, Available-For-Sale [Abstract] | |
Less than 12 months, fair value | 2,914,948 |
12 months or greater, fair value | 0 |
Total, fair value | 2,914,948 |
Cash Equivalents And Debt Securities, Available-For-Sale, Unrealized Loss Position, Accumulated Loss [Abstract] | |
Less than 12 months, accumulated losses | (3,764) |
12 months or greater, accumulated losses | 0 |
Total, accumulated losses | (3,764) |
Commercial paper | |
Cash Equivalents, Fair Value | |
Less than 12 months, fair value | 17,998 |
12 months or greater, fair value | 0 |
Total, fair value | 17,998 |
Cash Equivalents, Gross Unrealized Losses | |
Less than 12 months, accumulated losses | 0 |
12 months or greater, accumulated losses | 0 |
Total, accumulated losses | 0 |
Investments, Fair Value | |
Less than 12 months, fair value | 449,901 |
12 months or greater, fair value | 0 |
Total, fair value | 449,901 |
Investments, Gross Unrealized Losses | |
Less than 12 months, accumulated losses | (131) |
12 months or greater, accumulated losses | 0 |
Total, accumulated losses | (131) |
Corporate notes and bonds | |
Cash Equivalents, Fair Value | |
Less than 12 months, fair value | 5,058 |
12 months or greater, fair value | 0 |
Total, fair value | 5,058 |
Cash Equivalents, Gross Unrealized Losses | |
Less than 12 months, accumulated losses | (1) |
12 months or greater, accumulated losses | 0 |
Total, accumulated losses | (1) |
Investments, Fair Value | |
Less than 12 months, fair value | 2,170,442 |
12 months or greater, fair value | 0 |
Total, fair value | 2,170,442 |
Investments, Gross Unrealized Losses | |
Less than 12 months, accumulated losses | (3,278) |
12 months or greater, accumulated losses | 0 |
Total, accumulated losses | (3,278) |
U.S. government and agency securities | |
Investments, Fair Value | |
Less than 12 months, fair value | 230,705 |
12 months or greater, fair value | 0 |
Total, fair value | 230,705 |
Investments, Gross Unrealized Losses | |
Less than 12 months, accumulated losses | (321) |
12 months or greater, accumulated losses | 0 |
Total, accumulated losses | (321) |
Certificates of deposit | |
Investments, Fair Value | |
Less than 12 months, fair value | 40,844 |
12 months or greater, fair value | 0 |
Total, fair value | 40,844 |
Investments, Gross Unrealized Losses | |
Less than 12 months, accumulated losses | (33) |
12 months or greater, accumulated losses | 0 |
Total, accumulated losses | $ (33) |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Fair Value Measurements (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Jan. 31, 2021 |
Assets, Fair Value Disclosure | ||
Cash equivalents | $ 721,877 | $ 683,101 |
Short-term investments | 2,955,613 | 3,087,887 |
Long-term investments | 1,211,858 | 1,165,275 |
Money market funds | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 581,689 | 334,891 |
U.S. government and agency securities | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 60,000 | 23,700 |
Commercial paper | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 46,993 | 242,037 |
Certificates of deposit | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 27,002 | 23,503 |
Corporate notes and bonds | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 6,193 | 58,970 |
Recurring | ||
Assets, Fair Value Disclosure | ||
Total | 4,889,348 | 4,936,263 |
Recurring | Corporate notes and bonds | ||
Assets, Fair Value Disclosure | ||
Short-term investments | 1,454,923 | 1,318,573 |
Long-term investments | 1,054,854 | 968,580 |
Recurring | Commercial paper | ||
Assets, Fair Value Disclosure | ||
Short-term investments | 1,065,978 | 711,372 |
Recurring | U.S. government and agency securities | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 23,700 | |
Short-term investments | 243,323 | 829,318 |
Long-term investments | 148,013 | 186,945 |
Recurring | Certificates of deposit | ||
Assets, Fair Value Disclosure | ||
Short-term investments | 191,389 | 228,624 |
Long-term investments | 8,991 | 9,750 |
Recurring | Money market funds | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 581,689 | 334,891 |
Recurring | U.S. government and agency securities | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 60,000 | |
Recurring | Commercial paper | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 46,993 | 242,037 |
Recurring | Certificates of deposit | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 27,002 | 23,503 |
Recurring | Corporate notes and bonds | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 6,193 | 58,970 |
Recurring | Level 1 | ||
Assets, Fair Value Disclosure | ||
Total | 581,689 | 334,891 |
Recurring | Level 1 | Corporate notes and bonds | ||
Assets, Fair Value Disclosure | ||
Short-term investments | 0 | 0 |
Long-term investments | 0 | 0 |
Recurring | Level 1 | Commercial paper | ||
Assets, Fair Value Disclosure | ||
Short-term investments | 0 | 0 |
Recurring | Level 1 | U.S. government and agency securities | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 0 | |
Short-term investments | 0 | 0 |
Long-term investments | 0 | 0 |
Recurring | Level 1 | Certificates of deposit | ||
Assets, Fair Value Disclosure | ||
Short-term investments | 0 | 0 |
Long-term investments | 0 | 0 |
Recurring | Level 1 | Money market funds | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 581,689 | 334,891 |
Recurring | Level 1 | U.S. government and agency securities | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 0 | |
Recurring | Level 1 | Commercial paper | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 0 | 0 |
Recurring | Level 1 | Certificates of deposit | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 0 | 0 |
Recurring | Level 1 | Corporate notes and bonds | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 0 | 0 |
Recurring | Level 2 | ||
Assets, Fair Value Disclosure | ||
Total | 4,307,659 | 4,601,372 |
Recurring | Level 2 | Corporate notes and bonds | ||
Assets, Fair Value Disclosure | ||
Short-term investments | 1,454,923 | 1,318,573 |
Long-term investments | 1,054,854 | 968,580 |
Recurring | Level 2 | Commercial paper | ||
Assets, Fair Value Disclosure | ||
Short-term investments | 1,065,978 | 711,372 |
Recurring | Level 2 | U.S. government and agency securities | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 23,700 | |
Short-term investments | 243,323 | 829,318 |
Long-term investments | 148,013 | 186,945 |
Recurring | Level 2 | Certificates of deposit | ||
Assets, Fair Value Disclosure | ||
Short-term investments | 191,389 | 228,624 |
Long-term investments | 8,991 | 9,750 |
Recurring | Level 2 | Money market funds | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 0 | 0 |
Recurring | Level 2 | U.S. government and agency securities | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 60,000 | |
Recurring | Level 2 | Commercial paper | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 46,993 | 242,037 |
Recurring | Level 2 | Certificates of deposit | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | 27,002 | 23,503 |
Recurring | Level 2 | Corporate notes and bonds | ||
Assets, Fair Value Disclosure | ||
Cash equivalents | $ 6,193 | $ 58,970 |
Fair Value Measurements - Narra
Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |
Oct. 31, 2021 | Jul. 31, 2021 | Oct. 31, 2021 | |
Fair Value Disclosures [Abstract] | |||
Cumulative amount of upward adjustments | $ 8.1 | ||
Annual amount of upward adjustments | $ 8.1 | ||
Strategic investment | $ 20 | $ 20 | |
Unrealized gain on investments | $ 0.5 | $ 0.5 |
Fair Value Measurements - Summa
Fair Value Measurements - Summary of Strategic Investments (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Jan. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total strategic investments | $ 124,656 | $ 41,500 |
Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-marketable equity securities | 101,951 | 41,000 |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable equity securities | 20,455 | |
Non-marketable debt securities | 2,250 | 500 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total strategic investments | 20,455 | 0 |
Level 1 | Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-marketable equity securities | 0 | 0 |
Level 1 | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable equity securities | 20,455 | |
Non-marketable debt securities | 0 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total strategic investments | 104,201 | 41,500 |
Level 3 | Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-marketable equity securities | 101,951 | 41,000 |
Level 3 | Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable equity securities | 0 | |
Non-marketable debt securities | $ 2,250 | $ 500 |
Property and Equipment, Net - S
Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Jan. 31, 2021 |
Property, Plant and Equipment | ||
Total property and equipment | $ 114,129 | $ 80,922 |
Less: accumulated depreciation and amortization | (19,752) | (11,954) |
Total property and equipment, net | 94,377 | 68,968 |
Computers, equipment, and software | ||
Property, Plant and Equipment | ||
Total property and equipment | 6,642 | 3,817 |
Furniture and fixtures | ||
Property, Plant and Equipment | ||
Total property and equipment | 8,051 | 6,627 |
Leasehold improvements | ||
Property, Plant and Equipment | ||
Total property and equipment | 51,670 | 41,593 |
Capitalized internal-use software development costs | ||
Property, Plant and Equipment | ||
Total property and equipment | 16,030 | 12,855 |
Less: accumulated depreciation and amortization | (8,600) | (5,500) |
Construction in progress | ||
Property, Plant and Equipment | ||
Total property and equipment | $ 31,736 | $ 16,030 |
Property and Equipment, Net - N
Property and Equipment, Net - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2020 | |
Property, Plant and Equipment [Abstract] | ||||
Depreciation | $ 3.6 | $ 2 | $ 9.9 | $ 4.8 |
Intangible Assets and Goodwil_2
Intangible Assets and Goodwill - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Jan. 31, 2021 |
Finite-Lived Intangible Assets [Line Items] | ||
Total finite-lived intangible assets | $ 34,652 | $ 19,327 |
Less: accumulated amortization | (9,311) | (3,662) |
Total finite-lived intangible assets, net | 25,341 | 15,665 |
Infinite-lived intangible assets - trademarks | 826 | 426 |
Intangible assets, net | 26,167 | 16,091 |
Assembled workforce | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total finite-lived intangible assets | 15,099 | 0 |
Developed technology | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total finite-lived intangible assets | 11,332 | 11,332 |
Patents | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total finite-lived intangible assets | 8,174 | 7,948 |
Other | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total finite-lived intangible assets | $ 47 | $ 47 |
Intangible Assets and Goodwil_3
Intangible Assets and Goodwill - Narrative (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2020 | Jan. 31, 2021 | |
Business Acquisition [Line Items] | |||||
Indefinite-lived intangible assets acquired | $ 400,000 | ||||
Amortization expense | $ 1,900,000 | $ 900,000 | 5,700,000 | $ 1,900,000 | |
Goodwill | 8,449,000 | 8,449,000 | $ 8,449,000 | ||
Goodwill impairments | $ 0 | $ 0 | 0 | $ 0 | |
Assembled workforce | |||||
Business Acquisition [Line Items] | |||||
Intangible assets acquired | $ 15,100,000 | ||||
Weighted-average useful life | 4 years | ||||
Patents | |||||
Business Acquisition [Line Items] | |||||
Weighted-average useful life | 4 years | ||||
Indefinite-lived intangible assets acquired | $ 200,000 |
Intangible Assets and Goodwil_4
Intangible Assets and Goodwill - Schedule of Future Amortization Expense (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Jan. 31, 2021 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Remainder of 2022 | $ 1,922 | |
2023 | 7,687 | |
2024 | 7,687 | |
2025 | 6,838 | |
2026 | 1,207 | |
Total finite-lived intangible assets, net | $ 25,341 | $ 15,665 |
Accrued Expenses and Other Cu_3
Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Jan. 31, 2021 |
Payables and Accruals [Abstract] | ||
Accrued compensation | $ 82,238 | $ 62,451 |
Accrued third-party cloud infrastructure expenses | 13,977 | 6,648 |
Employee contributions under employee stock purchase plan | 11,252 | 22,068 |
Employee payroll tax withheld on employee stock transactions | 10,222 | 1,340 |
Accrued professional services | 8,199 | 6,628 |
Accrued taxes | 6,850 | 4,498 |
Accrued purchases of property and equipment | 2,550 | 6,718 |
Other | 27,950 | 14,964 |
Total accrued expenses and other current liabilities | $ 163,238 | $ 125,315 |
Deferred Revenue and Remainin_2
Deferred Revenue and Remaining Performance Obligations - Deferred Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | ||||
Revenue recognized | $ 255 | $ 121.2 | $ 464 | $ 222 |
Deferred Revenue and Remainin_3
Deferred Revenue and Remaining Performance Obligations - Remaining Performance Obligations (Details) $ in Billions | 9 Months Ended |
Oct. 31, 2021USD ($) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation | $ 1.8 |
Contracts With Original Terms Exceeding One Year | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Remaining performance obligation, percentage | 75.00% |
Weighted-average remaining life | 2 years 4 months 24 days |
Commitment and Contingencies (D
Commitment and Contingencies (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | ||||
Sublease income | $ 3,400,000 | $ 3,200,000 | $ 9,800,000 | $ 9,600,000 |
Cost of matching contributions | 0 | $ 0 | 0 | $ 0 |
Letters of credit outstanding | $ 17,000,000 | $ 17,000,000 |
Redeemable Convertible Prefer_2
Redeemable Convertible Preferred Stock (Details) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2020USD ($)shares | Oct. 31, 2020USD ($)$ / sharesshares | Oct. 31, 2020USD ($)$ / sharesshares | Oct. 31, 2021shares | Jul. 31, 2021shares | Jan. 31, 2021shares | Jul. 31, 2020shares | Jan. 31, 2020shares | |
Temporary Equity [Line Items] | ||||||||
Issuance of redeemable convertible preferred stock (in shares) | 12,349,827 | |||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares) | 182,271,099 | 182,271,099 | ||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering | $ | $ 1,415,047 | $ 1,415,047 | ||||||
Reclassification of converted shares | $ | $ 1,415,047 | $ 1,415,047 | ||||||
Redeemable convertible preferred stock, shares outstanding (in shares) | 0 | 0 | 0 | 0 | 0 | 182,271,099 | 169,921,272 | |
Redeemable convertible preferred stock, shares issued (in shares) | 0 | 0 | ||||||
Series G-1 Redeemable Convertible Preferred Stock | ||||||||
Temporary Equity [Line Items] | ||||||||
Issuance of redeemable convertible preferred stock (in shares) | 8,480,857 | |||||||
Redemption price (in dollars per share) | $ / shares | $ 38.77 | $ 38.77 | ||||||
Series G-2 Redeemable Convertible Preferred Stock | ||||||||
Temporary Equity [Line Items] | ||||||||
Issuance of redeemable convertible preferred stock (in shares) | 3,868,970 | |||||||
Redemption price (in dollars per share) | $ / shares | $ 38.77 | $ 38.77 | ||||||
Redeemable Convertible Preferred Stock | ||||||||
Temporary Equity [Line Items] | ||||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares) | 182,271,099 | |||||||
Reclassification of converted shares | $ | $ 1,400,000 | |||||||
Class B Common Stock | ||||||||
Temporary Equity [Line Items] | ||||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering (in shares) | 182,271,099 | |||||||
Conversion ratio | 1 | |||||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering | $ | $ 1,400,000 |
Equity - Narrative (Details)
Equity - Narrative (Details) $ / shares in Units, $ in Thousands | Mar. 03, 2021shares | Mar. 01, 2021vote$ / sharesshares | Feb. 28, 2021vote | Feb. 28, 2020 | Sep. 30, 2020USD ($)shares | Mar. 31, 2020shares | Mar. 31, 2019USD ($)shares | Dec. 31, 2017$ / sharesshares | Jun. 30, 2020USD ($) | Oct. 31, 2021USD ($)class$ / sharesshares | Jul. 31, 2021shares | Apr. 30, 2021shares | Oct. 31, 2020USD ($) | Oct. 31, 2021USD ($)class$ / sharesshares | Oct. 31, 2020USD ($)$ / shares | Apr. 30, 2020USD ($) | Jan. 31, 2021USD ($)$ / sharesshares | Feb. 29, 2020$ / shares |
Share-based Compensation Arrangement by Share-based Payment Award | ||||||||||||||||||
Preferred stock, shares authorized (in shares) | 200,000,000 | 200,000,000 | 200,000,000 | |||||||||||||||
Preferred stock, par value (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | |||||||||||||||
Common stock, number of classes of stock | class | 2 | 2 | ||||||||||||||||
Conversion, percent threshold | 10.00% | |||||||||||||||||
Common stock reserved for future issuances (shares) | 111,787,754 | 111,787,754 | 112,494,580 | |||||||||||||||
Options granted (shares) | 0 | |||||||||||||||||
Granted (in dollars per share) | $ / shares | $ 22.67 | |||||||||||||||||
Intrinsic value of shares exercised | $ | $ 3,800,000 | $ 544,500 | ||||||||||||||||
Grant date fair value of vested shares | $ | 62,700 | 71,000 | ||||||||||||||||
Proceeds from repayments of a nonrecourse promissory note | $ | 0 | 2,090 | ||||||||||||||||
Share-based compensation | $ | $ 144,387 | $ 119,141 | $ 459,392 | 157,790 | ||||||||||||||
Shares subject to repurchase (in shares) | 66,515 | 66,515 | 245,633 | |||||||||||||||
Liabilities for common stock subject to repurchase | $ | $ 500 | $ 500 | $ 1,200 | |||||||||||||||
Compensation modification cost | $ | $ 2,700 | $ 16,700 | ||||||||||||||||
Unrecognized share-based compensation expense | $ | $ 1,500,000 | $ 1,500,000 | ||||||||||||||||
Unrecognized share-based compensation expense recognition period (term) | 3 years 1 month 6 days | |||||||||||||||||
Employee stock purchase rights under the 2020 ESPP | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||||||||||||||||
Common stock reserved for future issuances (shares) | 8,208,724 | 8,208,724 | 5,700,000 | |||||||||||||||
Stock market discount | 85.00% | |||||||||||||||||
Offering period | 6 months | |||||||||||||||||
Stock options | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||||||||||||||||
Vesting period (years) | 4 years | |||||||||||||||||
Expiration period (years) | 10 years | |||||||||||||||||
RSUs | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||||||||||||||||
Vesting period (years) | 4 years | |||||||||||||||||
Unvested shares (shares) | 10,115,953 | 10,763,236 | 11,117,993 | 10,115,953 | 9,348,557 | |||||||||||||
Vested (shares) | 980,901 | 820,002 | 531,845 | |||||||||||||||
Share-based compensation | $ | $ 55,500 | |||||||||||||||||
2020 Plan | RSUs | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||||||||||||||||
Common stock reserved for future issuances (shares) | 5,081,153 | 5,081,153 | 1,828,083 | |||||||||||||||
2012 Plan | Stock options | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||||||||||||||||
Common stock reserved for future issuances (shares) | 47,781,688 | 47,781,688 | 64,574,656 | |||||||||||||||
Expiration period (years) | 10 years | |||||||||||||||||
2012 Plan | RSUs | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||||||||||||||||
Common stock reserved for future issuances (shares) | 5,034,800 | 5,034,800 | 7,520,474 | |||||||||||||||
Out of the Plans | RSA | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||||||||||||||||
Unvested shares (shares) | 470,673 | 561,085 | 651,499 | 470,673 | 741,911 | |||||||||||||
Vested (shares) | 90,412 | 90,414 | 90,412 | |||||||||||||||
Out of the Plans | RSA | Privately-Held Company | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||||||||||||||||
Unvested shares (shares) | 158,173 | 158,173 | ||||||||||||||||
Issuance of common stock in connection with an acquisition (in shares) | 661,635 | |||||||||||||||||
Vested (shares) | 215,031 | |||||||||||||||||
Share-based compensation | $ | $ 1,100 | |||||||||||||||||
Vesting period (years) | 4 years | |||||||||||||||||
Out of the Plans | RSA | Privately-Held Company | Share-based Payment Arrangement, Tranche One | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||||||||||||||||
Vesting period (years) | 4 years | |||||||||||||||||
Out of the Plans | RSA | Promissory Notes | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||||||||||||||||
Vesting period (years) | 5 years | |||||||||||||||||
Shares authorized (shares) | 1,250,000 | |||||||||||||||||
Shares issued (in dollars per share) | $ / shares | $ 1.59 | |||||||||||||||||
Debt instrument, stated interest rate | 2.11% | |||||||||||||||||
Proceeds from repayments of a nonrecourse promissory note | $ | $ 2,100 | |||||||||||||||||
Unvested shares (shares) | 312,500 | 312,500 | ||||||||||||||||
Class A Common Stock | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||||||||||||||||
Common stock, shares authorized (in shares) | 2,500,000,000 | 2,500,000,000 | 2,500,000,000 | 2,500,000,000 | ||||||||||||||
Common stock, par value (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||||||||
Common stock, voting rights, votes per share | vote | 1 | |||||||||||||||||
Class A Common Stock | Employee stock purchase rights under the 2020 ESPP | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||||||||||||||||
Common stock reserved for future issuances (shares) | 5,700,000 | |||||||||||||||||
Class A Common Stock | 2020 Plan | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||||||||||||||||
Common stock reserved for future issuances (shares) | 34,100,000 | |||||||||||||||||
Maximum common shares authorized to be outstanding (shares) | 78,816,888 | |||||||||||||||||
Class B Common Stock | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||||||||||||||||
Common stock, shares authorized (in shares) | 355,000,000 | 185,461,432 | 185,461,432 | 355,000,000 | ||||||||||||||
Shares converted (in shares) | 169,538,568 | 169,538,568 | ||||||||||||||||
Common stock, par value (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||||||||
Common stock, voting rights, votes per share | vote | 10 | |||||||||||||||||
Shares issued (in dollars per share) | $ / shares | $ 38.77 | |||||||||||||||||
Shares issued for common stock (shares) | 8,600,000 |
Equity - Shares Reserved For Fu
Equity - Shares Reserved For Future Issuance (Details) - shares | Oct. 31, 2021 | Jan. 31, 2021 |
Share-based Compensation Arrangement by Share-based Payment Award | ||
Common stock reserved for future issuances (shares) | 111,787,754 | 112,494,580 |
Employee stock purchase rights under the 2020 ESPP | ||
Share-based Compensation Arrangement by Share-based Payment Award | ||
Common stock reserved for future issuances (shares) | 8,208,724 | 5,700,000 |
2012 Plan | Stock options | ||
Share-based Compensation Arrangement by Share-based Payment Award | ||
Common stock reserved for future issuances (shares) | 47,781,688 | 64,574,656 |
2012 Plan | RSUs | ||
Share-based Compensation Arrangement by Share-based Payment Award | ||
Common stock reserved for future issuances (shares) | 5,034,800 | 7,520,474 |
2020 Plan | RSUs | ||
Share-based Compensation Arrangement by Share-based Payment Award | ||
Common stock reserved for future issuances (shares) | 5,081,153 | 1,828,083 |
2020 Plan | Shares available for future grants | ||
Share-based Compensation Arrangement by Share-based Payment Award | ||
Common stock reserved for future issuances (shares) | 45,681,389 | 32,871,367 |
Equity - Stock Option Activity
Equity - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Oct. 31, 2021 | Jul. 31, 2021 | Apr. 30, 2021 | Oct. 31, 2021 | Jan. 31, 2021 | |
Shares Available for Grant | |||||
Shares available for grant, beginning (in shares) | 45,768,644 | 45,574,269 | 32,871,367 | 32,871,367 | |
Shares authorized (in shares) | 14,395,880 | ||||
Options canceled (in shares) | 246,363 | 659,620 | 608,303 | ||
Shares available for grant, ending (in shares) | 45,681,389 | 45,768,644 | 45,574,269 | 45,681,389 | 32,871,367 |
Number of Options Outstanding | |||||
Shares outstanding, beginning (in shares) | 52,250,088 | 56,884,494 | 64,574,656 | 64,574,656 | |
Options exercised (in shares) | (4,222,037) | (3,974,786) | (7,081,859) | ||
Options canceled (in shares) | (246,363) | (659,620) | (608,303) | ||
Shares outstanding, ending (in shares) | 47,781,688 | 52,250,088 | 56,884,494 | 47,781,688 | 64,574,656 |
Weighted- Average Exercise Price | |||||
Shares outstanding, beginning balance (in dollars per share) | $ 7.28 | $ 7.21 | $ 7.04 | $ 7.04 | |
Options exercised (in dollars per share) | 5.85 | 6.15 | 5.82 | ||
Options canceled (in dollars per share) | 8.56 | 8.51 | 4.70 | ||
Shares outstanding, ending balance (in dollars per share) | $ 7.40 | $ 7.28 | $ 7.21 | $ 7.40 | $ 7.04 |
Weighted-average remaining contractual life | 7 years 1 month 6 days | 7 years 3 months 18 days | 7 years 6 months | 7 years 8 months 12 days | |
Aggregate Intrinsic Value (in thousands) | |||||
Aggregate intrinsic value | $ 16,553,557 | $ 13,503,560 | $ 12,763,483 | $ 16,553,557 | $ 17,138,896 |
Vested and exercisable (in shares) | 24,561,457 | 24,561,457 | |||
Vested and exercisable, weighted average share price (in dollars per share) | $ 6.24 | $ 6.24 | |||
Vested and exercisable, weighted average remaining contractual life | 6 years 8 months 12 days | ||||
Vested and exercisable, aggregate intrinsic value | $ 8,537,609 | $ 8,537,609 | |||
RSUs | |||||
Shares Available for Grant | |||||
RSU's granted (in shares) | (561,159) | (584,752) | (2,413,881) | ||
RSU's forfeited (in shares) | 227,541 | 119,507 | 112,600 |
Equity - Unvested RSA & RSU Rol
Equity - Unvested RSA & RSU Rollforward (Details) - $ / shares | 3 Months Ended | ||
Oct. 31, 2021 | Jul. 31, 2021 | Apr. 30, 2021 | |
RSA | Out of the Plans | |||
Number of Shares | |||
Unvested balance, beginning (shares) | 561,085 | 651,499 | 741,911 |
Vested (shares) | (90,412) | (90,414) | (90,412) |
Unvested balance, ending (shares) | 470,673 | 561,085 | 651,499 |
Weighted-Average Grant Date Fair Value per Share | |||
Unvested balance , beginning balance (per share) | $ 2.11 | $ 2.11 | $ 2.11 |
Vested (per share) | 2.10 | 2.10 | 2.10 |
Unvested balance , ending balance (per share) | $ 2.11 | $ 2.11 | $ 2.11 |
RSUs | |||
Number of Shares | |||
Unvested balance, beginning (shares) | 10,763,236 | 11,117,993 | 9,348,557 |
Granted (shares) | 561,159 | 584,752 | 2,413,881 |
Vested (shares) | (980,901) | (820,002) | (531,845) |
Forfeited (shares) | (227,541) | (119,507) | (112,600) |
Unvested balance, ending (shares) | 10,115,953 | 10,763,236 | 11,117,993 |
Weighted-Average Grant Date Fair Value per Share | |||
Unvested balance , beginning balance (per share) | $ 160.83 | $ 150.50 | $ 125.06 |
Granted (per share) | 305.15 | 244.05 | 223.93 |
Vested (per share) | 99.49 | 78.84 | 40.02 |
Forfeited (per share) | 180.53 | 169.75 | 134.52 |
Unvested balance , ending balance (per share) | $ 174.34 | $ 160.83 | $ 150.50 |
Equity - Valuation Assumptions
Equity - Valuation Assumptions (Details) | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2020 | |
Stock options | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology | ||||
Expected term (in years) | 5 years 10 months 24 days | 6 years | ||
Expected volatility | 38.40% | 37.20% | ||
Risk-free interest rate | 0.40% | 1.00% | ||
Expected dividend yield | 0.00% | 0.00% | ||
Employee stock purchase rights under the 2020 ESPP | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology | ||||
Expected term (in years) | 6 months | 6 months | 6 months | 6 months |
Expected volatility | 37.30% | |||
Expected volatility | 49.50% | |||
Expected volatility | 37.30% | 60.10% | 60.10% | |
Risk-free interest rate | 0.10% | 0.10% | 0.10% | 0.10% |
Expected dividend yield | 0.00% | 0.00% | 0.00% | 0.00% |
Equity - Share-based Compensati
Equity - Share-based Compensation (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2020 | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount | ||||
Stock-based compensation, net of amounts capitalized | $ 144,387 | $ 119,141 | $ 459,392 | $ 157,790 |
Capitalized stock-based compensation | 6,085 | 284 | 19,322 | 1,020 |
Total stock-based compensation | 150,472 | 119,425 | 478,714 | 158,810 |
Cost of revenue | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount | ||||
Stock-based compensation, net of amounts capitalized | 21,163 | 13,226 | 66,380 | 15,507 |
Sales and marketing | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount | ||||
Stock-based compensation, net of amounts capitalized | 43,074 | 39,481 | 141,463 | 49,714 |
Research and development | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount | ||||
Stock-based compensation, net of amounts capitalized | 56,142 | 39,368 | 174,788 | 49,186 |
General and administrative | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount | ||||
Stock-based compensation, net of amounts capitalized | $ 24,008 | $ 27,066 | $ 76,761 | $ 43,383 |
Income Taxes (Details)
Income Taxes (Details) | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||||
Effective tax rate | (0.80%) | (0.30%) | (0.30%) | (0.20%) |
Net Loss per Share - Narrative
Net Loss per Share - Narrative (Details) - $ / shares | Mar. 03, 2021 | Mar. 01, 2021 | Oct. 31, 2021 | Jan. 31, 2021 |
Class B Common Stock | ||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||
Shares converted (in shares) | 169,538,568 | 169,538,568 | ||
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 | $ 0.0001 | |
Class A Common Stock | ||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 | $ 0.0001 |
Net Loss per Share - Schedule o
Net Loss per Share - Schedule of Basic and Diluted Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2020 | ||
Earnings Per Share [Abstract] | |||||
Net loss attributable to Class A and Class B common stockholders | $ (154,856) | $ (168,889) | $ (547,795) | $ (340,167) | |
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders - basic (in shares) | [1] | 303,006,685 | 166,868,200 | 297,435,637 | 93,763,599 |
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders - diluted (in shares) | [1] | 303,006,685 | 166,868,200 | 297,435,637 | 93,763,599 |
Net loss per share attributable to Class A and Class B common stockholders - basic (in dollars per share) | [1] | $ (0.51) | $ (1.01) | $ (1.84) | $ (3.63) |
Net loss per share attributable to Class A and Class B common stockholders - diluted (in dollars per share) | [1] | $ (0.51) | $ (1.01) | $ (1.84) | $ (3.63) |
[1] | On March 1, 2021, all shares of the Company’s then-outstanding Class B common stock were automatically converted into the same number of shares of Class A common stock, pursuant to the terms of the Company’s amended and restated certificate of incorporation. No additional shares of Class B common stock will be issued following such conversion. See Note 11 for further details. |
Net Loss per Share - Schedule_2
Net Loss per Share - Schedule of Potentially Dilutive Securities Excluded from Computation of Net Loss per Share (Details) - shares | 9 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities excluded from computation of diluted net loss per share (in shares) | 58,474,868 | 78,507,510 |
Stock options | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities excluded from computation of diluted net loss per share (in shares) | 47,781,688 | 69,634,367 |
Shares subject to repurchase | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities excluded from computation of diluted net loss per share (in shares) | 537,188 | 1,171,124 |
RSUs | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities excluded from computation of diluted net loss per share (in shares) | 10,115,953 | 7,616,097 |
Employee stock purchase rights under the 2020 ESPP | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Potentially dilutive securities excluded from computation of diluted net loss per share (in shares) | 40,039 | 85,922 |
Geographic Information - Revenu
Geographic Information - Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | Oct. 31, 2021 | Oct. 31, 2020 | |
Revenues from External Customers and Long-Lived Assets | ||||
Revenue | $ 334,441 | $ 159,624 | $ 835,553 | $ 401,584 |
United States | ||||
Revenues from External Customers and Long-Lived Assets | ||||
Revenue | 265,605 | 135,427 | 669,172 | 341,892 |
Other | ||||
Revenues from External Customers and Long-Lived Assets | ||||
Revenue | $ 68,836 | $ 24,197 | $ 166,381 | $ 59,692 |
Geographic Information - Long-l
Geographic Information - Long-lived Assets (Details) - USD ($) $ in Thousands | Oct. 31, 2021 | Jan. 31, 2021 |
Revenues from External Customers and Long-Lived Assets | ||
Non-current assets | $ 278,434 | $ 255,786 |
United States | ||
Revenues from External Customers and Long-Lived Assets | ||
Non-current assets | 268,546 | 247,457 |
Other | ||
Revenues from External Customers and Long-Lived Assets | ||
Non-current assets | $ 9,888 | $ 8,329 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jan. 31, 2022 | Jul. 31, 2021 | |
Subsequent Event [Line Items] | ||
Gain on equity securities | $ 8.1 | |
Forecast | ||
Subsequent Event [Line Items] | ||
Gain on equity securities | $ 20 |