HashiCorp (HCP) 10-Q 5 Dec 24 2025 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Oct. 31, 2024	Dec. 02, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 31, 2024
Document Transition Report	false
Entity File Number	001-41121
Entity Registrant Name	HashiCorp, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	32-0410665
Entity Address, Address Line One	101 Second Street
Entity Address, Address Line Two	Suite 700
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
City Area Code	(415)
Local Phone Number	301-3250
Title of 12(b) Security	Class A Common Stock, par value $0.000015 per share
Trading Symbol	HCP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001720671
Document Fiscal Period Focus	Q3
Amendment Flag	false
Current Fiscal Year End Date	--01-31
Document Fiscal Year Focus	2025
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		161,635,636
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		42,811,733

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2024	Jan. 31, 2024
Current assets:
Cash and cash equivalents	$ 923,627	$ 763,414
Short-term investments	422,774	515,163
Accounts receivable, net of allowance	129,352	182,614
Deferred contract acquisition costs	50,858	50,285
Prepaid expenses and other current assets	26,215	30,075
Total current assets	1,552,826	1,541,551
Deferred contract acquisition costs, non-current	71,392	80,055
Acquisition-related intangible assets, net	9,486	11,611
Goodwill	12,197	12,197
Other assets, non-current	47,016	46,533
Total assets	1,692,917	1,691,947
Current liabilities:
Accounts payable	21,052	9,081
Accrued expenses and other current liabilities	14,293	15,143
Accrued compensation and benefits	44,126	56,007
Deferred revenue	310,431	334,894
Customer deposits	20,217	25,627
Total current liabilities	410,119	440,752
Deferred revenue, non-current	16,580	26,659
Other liabilities, non-current	8,553	11,543
Total liabilities	435,252	478,954
Commitments and contingencies (Note 6)
Stockholders’ equity:
Additional paid-in capital	2,318,947	2,184,451
Accumulated other comprehensive income (loss)	379	(393)
Accumulated deficit	(1,061,664)	(971,068)
Total stockholders’ equity	1,257,665	1,212,993
Total liabilities and stockholders’ equity	1,692,917	1,691,947
Common Class A
Stockholders’ equity:
Common stock	2	1
Common Class B
Stockholders’ equity:
Common stock	$ 1	$ 2

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Oct. 31, 2024	Jan. 31, 2024
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.000015	$ 0.000015
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	161,387,000	125,333,000
Common stock, shares outstanding (in shares)	161,387,000	125,333,000
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.000015	$ 0.000015
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	42,884,000	73,921,000
Common stock, shares outstanding (in shares)	42,884,000	73,921,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Revenue:
Total revenue	$ 173,389	$ 146,125	$ 499,107	$ 427,354
Cost of revenue:
Total cost of revenue	29,788	25,605	90,309	81,727
Gross profit	143,601	120,520	408,798	345,627
Operating expenses:
Sales and marketing	86,422	87,320	267,187	279,019
Research and development	53,365	54,349	167,181	168,504
General and administrative	33,696	34,424	115,321	104,083
Total operating expenses	173,483	176,093	549,689	551,606
Loss from operations	(29,882)	(55,573)	(140,891)	(205,979)
Interest income	17,387	16,765	52,339	48,045
Other income (expense), net	100	(407)	(121)	(632)
Loss before income taxes	(12,395)	(39,215)	(88,673)	(158,566)
Provision for income taxes	611	258	1,923	480
Net loss	$ (13,006)	$ (39,473)	$ (90,596)	$ (159,046)
Net loss per share attributable to Class A and Class B common stockholders, basic (in dollars per share)	$ (0.06)	$ (0.20)	$ (0.45)	$ (0.83)
Net loss per share attributable to Class A and Class B common stockholders, diluted (in dollars per share)	$ (0.06)	$ (0.20)	$ (0.45)	$ (0.83)
Weighted-average shares used to compute net loss per share attributable to Class A and Class B common stockholders, basic (in shares)	203,526	194,600	201,836	192,693
Weighted-average shares used to compute net loss per share attributable to Class A and Class B common stockholders, diluted (in shares)	203,526	194,600	201,836	192,693
Subscription revenue
Revenue:
Total revenue	$ 167,820	$ 141,934	$ 481,580	$ 414,642
Cost of revenue:
Total cost of revenue	24,456	21,341	73,307	68,218
Subscription revenue | License
Revenue:
Total revenue	21,202	15,973	54,039	47,855
Cost of revenue:
Total cost of revenue	525	293	1,532	1,376
Subscription revenue | Support
Revenue:
Total revenue	117,656	106,098	347,455	312,008
Cost of revenue:
Total cost of revenue	14,748	13,356	44,764	44,503
Subscription revenue | Cloud-hosted services
Revenue:
Total revenue	28,962	19,863	80,086	54,779
Cost of revenue:
Total cost of revenue	9,183	7,692	27,011	22,339
Professional services and other
Revenue:
Total revenue	5,569	4,191	17,527	12,712
Cost of revenue:
Total cost of revenue	$ 5,332	$ 4,264	$ 17,002	$ 13,509

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (13,006)	$ (39,473)	$ (90,596)	$ (159,046)
Available-for-sale investments:
Net unrealized gains (losses) on available-for-sale investments	534	38	774	(895)
Foreign currency forward contracts:
Unrealized losses on foreign currency forward contracts	(138)	(226)	(3)	(321)
Other comprehensive income (loss), net of tax	396	(188)	771	(1,216)
Total comprehensive loss	$ (12,610)	$ (39,661)	$ (89,825)	$ (160,262)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Class A and Class B Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balance (in shares) at Jan. 31, 2023		189,968
Beginning balance at Jan. 31, 2023	$ 1,205,350	$ 3	$ 1,985,747	$ 0	$ (780,400)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		513
Issuance of common stock upon exercise of stock options	1,013		1,013
Issuance of common stock upon settlement of restricted stock units (in shares)		1,071
Tax withholdings on settlement of restricted stock units	(9)		(9)
Stock-based compensation	41,266		41,266
Other comprehensive income (loss)	(66)			(66)
Net loss	(53,258)				(53,258)
Ending balance (in shares) at Apr. 30, 2023		191,552
Ending balance at Apr. 30, 2023	1,194,296	$ 3	2,028,017	(66)	(833,658)
Beginning balance (in shares) at Jan. 31, 2023		189,968
Beginning balance at Jan. 31, 2023	1,205,350	$ 3	1,985,747	0	(780,400)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(1,216)
Net loss	(159,046)
Ending balance (in shares) at Oct. 31, 2023		195,528
Ending balance at Oct. 31, 2023	1,191,723	$ 3	2,132,382	(1,216)	(939,446)
Beginning balance (in shares) at Apr. 30, 2023		191,552
Beginning balance at Apr. 30, 2023	1,194,296	$ 3	2,028,017	(66)	(833,658)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		366
Issuance of common stock upon exercise of stock options	442		442
Issuance of common stock upon settlement of restricted stock units (in shares)		1,307
Tax withholdings on settlement of restricted stock units (in shares)		(5)
Tax withholdings on settlement of restricted stock units	(215)		(215)
Issuance of common stock under employee stock purchase plan (in shares)		426
Issuance of common stock under employee stock purchase plan	10,195		10,195
Stock-based compensation	47,471		47,471
Other comprehensive income (loss)	(962)			(962)
Net loss	(66,315)				(66,315)
Ending balance (in shares) at Jul. 31, 2023		193,646
Ending balance at Jul. 31, 2023	1,184,912	$ 3	2,085,910	(1,028)	(899,973)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		407
Issuance of common stock upon exercise of stock options	1,488		1,488
Issuance of common stock upon settlement of restricted stock units (in shares)		1,477
Tax withholdings on settlement of restricted stock units (in shares)		(2)
Tax withholdings on settlement of restricted stock units	(12)		(12)
Stock-based compensation	44,996		44,996
Other comprehensive income (loss)	(188)			(188)
Net loss	(39,473)				(39,473)
Ending balance (in shares) at Oct. 31, 2023		195,528
Ending balance at Oct. 31, 2023	1,191,723	$ 3	2,132,382	(1,216)	(939,446)
Beginning balance (in shares) at Jan. 31, 2024		199,254
Beginning balance at Jan. 31, 2024	1,212,993	$ 3	2,184,451	(393)	(971,068)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		464
Issuance of common stock upon exercise of stock options	1,681		1,681
Issuance of common stock upon settlement of restricted stock units (in shares)		1,253
Tax withholdings on settlement of restricted stock units (in shares)		(1)
Tax withholdings on settlement of restricted stock units	(31)		(31)
Stock-based compensation	49,707		49,707
Other comprehensive income (loss)	(1,643)			(1,643)
Net loss	(51,128)				(51,128)
Ending balance (in shares) at Apr. 30, 2024		200,970
Ending balance at Apr. 30, 2024	1,211,579	$ 3	2,235,808	(2,036)	(1,022,196)
Beginning balance (in shares) at Jan. 31, 2024		199,254
Beginning balance at Jan. 31, 2024	1,212,993	$ 3	2,184,451	(393)	(971,068)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	771
Net loss	(90,596)
Ending balance (in shares) at Oct. 31, 2024		204,271
Ending balance at Oct. 31, 2024	1,257,665	$ 3	2,318,947	379	(1,061,664)
Beginning balance (in shares) at Apr. 30, 2024		200,970
Beginning balance at Apr. 30, 2024	1,211,579	$ 3	2,235,808	(2,036)	(1,022,196)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		372
Issuance of common stock upon exercise of stock options	985		985
Issuance of common stock upon settlement of restricted stock units (in shares)		1,169
Tax withholdings on settlement of restricted stock units (in shares)		(1)
Tax withholdings on settlement of restricted stock units	(21)		(21)
Issuance of common stock under employee stock purchase plan (in shares)		342
Issuance of common stock under employee stock purchase plan	6,661		6,661
Stock-based compensation	39,171		39,171
Other comprehensive income (loss)	2,019			2,019
Net loss	(26,462)				(26,462)
Ending balance (in shares) at Jul. 31, 2024		202,852
Ending balance at Jul. 31, 2024	1,233,932	$ 3	2,282,604	(17)	(1,048,658)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		165
Issuance of common stock upon exercise of stock options	1,151		1,151
Issuance of common stock upon settlement of restricted stock units (in shares)		1,255
Tax withholdings on settlement of restricted stock units (in shares)		(1)
Tax withholdings on settlement of restricted stock units	(27)		(27)
Stock-based compensation	35,219		35,219
Other comprehensive income (loss)	396			396
Net loss	(13,006)				(13,006)
Ending balance (in shares) at Oct. 31, 2024		204,271
Ending balance at Oct. 31, 2024	$ 1,257,665	$ 3	$ 2,318,947	$ 379	$ (1,061,664)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Cash flows from operating activities
Net loss	$ (90,596)	$ (159,046)
Adjustments to reconcile net loss to cash from operating activities:
Stock-based compensation expense, net of amounts capitalized	121,572	130,048
Depreciation and amortization expense	9,907	6,586
Non-cash operating lease cost	2,823	2,222
Accretion of discounts on marketable securities	(10,236)	(8,505)
Deferred income taxes	0	(482)
Other	101	67
Changes in operating assets and liabilities:
Accounts receivable	53,155	54,116
Deferred contract acquisition costs	8,090	(1,086)
Prepaid expenses and other assets	3,987	(11,843)
Accounts payable	11,970	(6,589)
Accrued expenses and other liabilities	(1,197)	(3,403)
Accrued compensation and benefits	(11,881)	(6,654)
Deferred revenue	(34,542)	(12,042)
Customer deposits	(5,410)	(4,526)
Net cash provided by (used in) operating activities	57,743	(21,137)
Cash flows from investing activities
Business combination, net of cash acquired	0	(20,860)
Purchases of property and equipment	(434)	(491)
Capitalized internal-use software	(7,394)	(8,536)
Purchases of short-term investments	(612,520)	(691,220)
Proceeds from sales of short-term investments	80,159	26,372
Proceeds from maturities of short-term investments	635,769	146,662
Net cash provided by (used in) investing activities	95,580	(548,073)
Cash flows from financing activities
Taxes paid related to net share settlement of equity awards	(79)	(236)
Payments related to acquisition holdback	(3,511)	0
Proceeds from issuance of common stock upon exercise of stock options	3,817	2,943
Proceeds from issuance of common stock under employee stock purchase plan	6,661	10,195
Net cash provided by financing activities	6,888	12,902
Net increase (decrease) in cash and cash equivalents	160,211	(556,308)
Cash and cash equivalents at beginning of period	763,414	1,286,134
Cash and cash equivalents at end of period	923,625	729,826
Supplemental disclosure of cash flow information
Cash paid for income taxes, net of refunds received	2,046	1,406
Cash paid for operating lease liabilities	3,749	2,912
Supplemental disclosure of noncash investing and financing activities
Capitalized stock-based compensation expense	2,525	3,685
Unpaid acquisition holdback	546	4,100
Operating lease right-of-use assets obtained in exchange for new lease obligations	$ 608	$ 0

Organization and Description of

Organization and Description of Business	9 Months Ended
	Oct. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	1. Organization and Description of Business Description of Business HashiCorp, Inc., (“HashiCorp” or the “Company”) was incorporated in Delaware in May 2013. The Company is headquartered in San Francisco, California and has wholly owned subsidiaries around the world. The Company’s foundational technologies solve the core infrastructure challenges of cloud adoption by enabling an operating model that unlocks the full potential of modern public and private clouds. The Company’s cloud operating model provides consistent workflows and a standardized approach to automating the critical processes involved in delivering applications in the cloud: infrastructure provisioning, security, networking, and application deployment. The Company’s primary commercial products are HashiCorp Terraform, Vault, Consul, and Nomad. The Company’s software is predominantly self-managed by users and customers who deploy it across public, private, and hybrid cloud environments. The Company also offers a fully-managed cloud platform for multiple products that further accelerates enterprise cloud migration by addressing resource and skills gaps, improving operational efficiency, and speeding up deployment time for customers. Additionally, the Company provides premium support and services. Proposed Transaction with IBM On April 24, 2024, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with International Business Machines Corporation ("IBM") and McCloud Merger Sub, Inc., a wholly owned subsidiary of IBM (“Merger Sub”). The Merger Agreement provides that, subject to the terms and conditions of the Merger Agreement, Merger Sub will merge with and into HashiCorp (the “Merger”), with HashiCorp continuing as the surviving corporation of the Merger and as a wholly owned subsidiary of IBM. The Merger is expected to be completed in the first calendar quarter of 2025, subject to the satisfaction or waiver of the closing conditions in the Merger Agreement. Pursuant to the Merger Agreement, at the effective time of the Merger (the “Effective Time”), each share of the Company's Class A common stock and Class B common stock issued and outstanding immediately prior to the Effective Time (subject to certain customary exceptions specified in the Merger Agreement) will automatically be cancelled and converted into the right to receive $35.00 in cash, without interest and subject to applicable withholding taxes. The Company’s stockholders approved and adopted the Merger Agreement on July 15, 2024. Completion of the Merger is subject to customary conditions, including the satisfaction of certain domestic and foreign regulatory approvals; the absence of an order or law preventing or materially restraining the consummation of the Merger; and performance by the parties in all material respects of all their obligations under the Merger Agreement. The Merger Agreement includes certain customary termination rights for the Company and IBM, including if the Effective Time has not occurred on or before October 24, 2025. Upon termination of the Merger Agreement in certain limited circumstances relating to an alternative transaction for the Company, the Company will be required to pay IBM a termination fee of $264.2 million. The foregoing summary of the Merger Agreement and the transactions contemplated thereby does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Merger Agreement, which is filed as Exhibit 2.1 of the Company’s Current Report on Form 8-K filed on April 25, 2024 and incorporated herein by reference. Other than transaction expenses associated with the proposed Merger of $22.1 million recorded in general and administrative expense in the accompanying condensed consolidated statements of operations for the nine months ended October 31, 2024, the terms of the Merger Agreement did not impact the Company’s condensed consolidated financial statements for the nine months ended October 31, 2024.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Oct. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America ("U.S. GAAP" or "GAAP") . Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the applicable rules and regulations of the Securities and Exchange Commission (the "SEC"). The unaudited condensed balance sheet data as of January 31, 2024 was derived from the Company’s audited financial statements included in its Annual Report on Form 10-K for the fiscal year ended January 31, 2024 (the fiscal “ 2024 Form 10-K”), but does not include all disclosures required by U.S. GAAP. Therefore, these interim unaudited condensed consolidated financial statements and accom panying footnotes should be read in conjunction with the Company’s annual consolidated financial statements and related footnotes included in the fiscal 2024 Form 10-K. The accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, that are, in the opinion of management, necessary for the fair presentation of the Company’s results for the interim periods presented. The results of operations for the three and nine months ended October 31, 2024 shown in this report are not necessarily indicative of the results to be expected for the full year ending January 31, 2025 or any other period. Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of condensed consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of income and expense during the reporting period. Such management estimates include, but are not limited to, the determination of standalone selling prices of the Company’s performance obligations, the estimated period of benefit of deferred contract acquisition costs, the fair value of share-based awards, software development costs, discount rates used for operating leases, goodwill and acquisition-related intangible assets, and the valuation allowance on deferred tax assets and uncertain tax positions. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from those estimates. Significant Accounting Policies There have been no changes to the Company’s significant accounting policies as described in the Annual Report for fiscal 2024 in Form 10-K. Recent Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses. The amendments will require public entities to disclose significant segment expenses that are regularly provided to the chief operating decision maker and included within segment profit and loss. The amendments are effective for the Company's annual periods beginning January 31, 2024, and interim periods beginning April 30, 2025, with early adoption permitted, and will be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the ASU to determine its impact on the Company’s disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which includes amendments that further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. The amendments are effective for the Company’s annual periods beginning January 31, 2025, with early adoption permitted, and should be applied either prospectively or retrospectively. The Company is currently evaluating the ASU to determine its impact on the Company’s disclosures. In November 2024, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Topic 220-40): Disaggregation of Income Statement Expenses, which provides amendments to improve financial reporting by requiring the disclosure of additional information about specific expense categories. The amendments are effective for the Company’s annual periods beginning January 31, 2027, and interim periods beginning April 30, 2028, with early adoption permitted, and should be applied either prospectively or retrospectively. The Company is currently evaluating the ASU to determine its impact on the Company’s disclosures.

Revenue and Performance Obligat

Revenue and Performance Obligations	9 Months Ended
	Oct. 31, 2024
Disaggregation of Revenue [Abstract]
Revenue and Performance Obligations	3. Revenue and Performance Obligations Disaggregation of Revenue The following table presents revenue by category (in thousands, except percentages): Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Amount % of Total Amount % of Total Amount % of Total Amount % of Total License $ 21,202 12 % $ 15,973 11 % $ 54,039 11 % $ 47,855 11 % Support 117,656 68 106,098 72 347,455 70 312,008 73 Cloud-hosted services 28,962 17 19,863 14 80,086 16 54,779 13 Total subscription revenue 167,820 97 141,934 97 481,580 97 414,642 97 Professional services and other 5,569 3 4,191 3 17,527 3 12,712 3 Total revenue $ 173,389 100 % $ 146,125 100 % $ 499,107 100 % $ 427,354 100 % The following table summarizes the revenue by region based on the billing address of customers who have contracted to use the Company's products and services (in thousands, except percentages): Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Amount % of Total Amount % of Total Amount % of Total Amount % of Total United States $ 117,530 68 % $ 102,365 70 % $ 338,328 68 % $ 300,979 70 % Rest of the world 55,860 32 % 43,760 30 % 160,779 32 126,375 30 Total $ 173,389 100 % $ 146,125 100 % $ 499,107 100 % $ 427,354 100 % No other country, outside of the United States, exceeded 10% of total revenue during the periods presented. Contract Balances Changes in deferred revenue and unbilled accounts receivable were as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Balance, beginning of period $ 321,685 $ 293,441 $ 361,553 $ 302,244 Deferred revenue billings including reclassification to deferred revenue from customer deposits 178,372 142,390 463,315 415,646 Recognition of revenue, net of change in unbilled accounts receivable* (173,046) (145,629) (497,857) (427,688) Balance, end of period $ 327,011 $ 290,202 $ 327,011 $ 290,202 * Reconciliation to revenue reported per consolidated statements of operations: Revenue billed as of the end of the period $ 173,046 $ 145,629 $ 497,857 $ 427,688 Increase (decrease) in total unbilled accounts receivable 343 496 1,250 (334) Revenue reported per consolidated statements of operations $ 173,389 $ 146,125 $ 499,107 $ 427,354 Unbilled accounts receivable represents revenue recognized on contracts for which billings have not yet been presented to customers because the amounts were earned but not contractually billable as of the balance sheet date. The unbilled accounts receivable balance is due within one year. As of October 31, 2024 and January 31, 2024, unbilled accounts receivable of approximately $5.1 million and $3.8 million, respectively, were included in accounts receivable on the Company’s condensed consolidated balance sheets. Remaining Performance Obligations (RPOs) The typical stated customer contract term is one year but can range up to three years. RPOs include both deferred revenue and non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods. As of October 31, 2024 and January 31, 2024, the Company had $775.4 million and $775.8 million, respectively, of remaining performance obligations, which is comprised of product and services revenue not yet delivered. As of October 31, 2024 and January 31, 2024, the Company expected to recognize approximately 62% and 59%, respectively, of its remaining performance obligations as revenue over the next 12 months and the remainder thereafter. RPOs exclude customer deposits, which are refundable pre-paid amounts that are expected to be recognized as revenue in future periods. These balances are included in customer deposits in the condensed consolidated balance sheets and are classified as current because contractually customers can cancel these obligations with 30 days written notice. The customer deposit balance is amortized to revenue over the term of the underlying contract as the customer’s right to cancel expires. If no contracts with customers are cancelled, the existing customer deposit balance will be recognized to revenue over the remaining stated term of the underlying contract which may be over the next 12 months or longer as follows (in thousands): As of October 31, 2024 January 31, 2024 Within the next 12 months $ 17,920 $ 22,882 After the next 12 months 2,297 2,745 Total $ 20,217 $ 25,627

Investments and Fair Value Meas

Investments and Fair Value Measurements	9 Months Ended
	Oct. 31, 2024
Fair Value Disclosures [Abstract]
Investments and Fair Value Measurements	4. Investments and Fair Value Measurements The following table sets forth the financial assets, measured at fair value, by level within the fair value hierarchy on a recurring basis and indicates the fair value hierarchy of the valuation inputs used to determine such fair value (in thousands): Fair Value Measurement as of October 31, 2024 Fair Value Level Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Assets: Cash and cash equivalents: Money market funds Level 1 $ 91,073 $ — $ — $ 91,073 U.S. treasury securities Level 2 52,153 1 (6) 52,148 Corporate notes and bonds Level 2 5,898 — — 5,898 Commercial paper Level 2 $ 4,979 $ — $ — $ 4,979 Total assets measured at fair value included in cash and cash equivalents $ 154,103 $ 1 $ (6) $ 154,098 Short-term Investments: U.S. treasury securities Level 2 228,566 310 (6) 228,870 U.S. agency obligations Level 2 13,811 14 — 13,824 Corporate notes and bonds Level 2 148,823 584 (15) 149,392 Commercial paper Level 2 25,433 — — 25,433 Certificates of deposit Level 2 5,254 — — 5,254 Total short-term investments $ 421,887 $ 908 $ (21) $ 422,774 Derivative instruments: Foreign currency forward contracts Level 2 — 276 — 276 Total assets measured at fair value $ 575,990 $ 1,185 $ (27) $ 577,148 Liabilities: Derivative instruments: Foreign currency forward contracts Level 2 $ — $ — $ 778 $ 778 Total derivative instruments — — 778 778 Total liabilities measured at fair value $ — $ — $ 778 $ 778 The following table summarizes the respective fair value and the classification by level within the fair value hierarchy (in thousands): Fair Value Measurement as of January 31, 2024 Fair Value Level Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Assets: Cash and cash equivalents: Money market funds Level 1 $ 63,137 $ — $ — $ 63,137 U.S. treasury securities Level 2 9,495 — — 9,495 Commercial paper Level 2 10,981 — — 10,981 Total assets measured at fair value included in cash and cash equivalents $ 83,613 $ — $ — $ 83,613 Short-term Investments: U.S. treasury securities Level 2 $ 244,778 $ 150 $ (141) $ 244,787 U.S. agency obligations Level 2 79,693 50 (23) 79,720 Corporate notes and bonds Level 2 103,552 141 (70) 103,623 Commercial paper Level 2 46,523 — — 46,523 Certificates of deposit Level 2 40,510 — — 40,510 Total short-term investments $ 515,056 $ 341 $ (234) $ 515,163 Derivative instruments: Foreign currency forward contracts Level 2 — — 18 18 Total assets measured at fair value $ 598,669 $ 341 $ (216) $ 598,794 Liabilities: Derivative instruments: Foreign currency forward contracts Level 2 $ — $ — $ 518 $ 518 Total derivative instruments — — 518 518 Total liabilities measured at fair value $ — $ — $ 518 $ 518 The Company classifies its highly liquid money market funds within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The Company classifies its corporate notes and bonds, U.S. treasury securities, U.S. agency obligations, commercial paper, certificate of deposits and foreign currency forward contracts within Level 2 of the fair value hierarchy because they are valued using inputs other than quoted prices that are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security that may not be actively traded. There were no transfers between fair value measurement levels during the nine months ended October 31, 2024 and 2023. The Company does not hold any marketable securities that have been in a continuous unrealized loss position for over 12 months. As of October 31, 2024, the declines in the market value of the Company's short-term investment portfolio were not driven by credit related factors. As of October 31, 2024, the Company determined that it does not intend to sell any securities with a decline in market value, and it is more likely than not that the Company will be able to hold these securities until maturity or a recovery of the cost basis. Therefore no allowance for expected credit losses was recorded as of October 31, 2024. Realized gains (losses) were not material for the nine months ended October 31, 2024. The following table summarizes the contractual maturities of the Company’s short-term investments (in thousands): As of October 31, 2024 Amortized Cost Fair Value Due within one year $ 360,364 $ 360,796 Due after one year through five years 61,523 61,978 Total $ 421,887 $ 422,774 As of January 31, 2024 Amortized Cost Fair Value Due within one year $ 447,001 446,902 Due after one year through five years 68,055 68,261 Total $ 515,056 $ 515,163

Derivative Instruments and Hedg

Derivative Instruments and Hedging	9 Months Ended
	Oct. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging	5. Derivative Instruments and Hedging As of October 31, 2024 and January 31, 2024, the Company’s foreign currency forward contracts had an aggregate notional amount of $61.0 million and $49.3 million, respectively. The Company enters into collateral arrangements with its counterparty that require the parties to post cash collateral when certain contractual thresholds are met to reduce credit risk. As of October 31, 2024, the Company posted $0.5 million cash collateral and included it in cash and cash equivalents in the condensed consolidated balance sheets. The following table summarizes the fair value of the Company’s derivative instruments in the condensed consolidated balance sheets (in thousands): Balance Sheet Location Fair Value as of October 31, 2024 Fair Value as of January 31, 2024 Derivative Assets: Foreign currency forward contracts designated as hedging instruments Prepaid expenses and other current assets $ 276 $ 18 Total derivative assets $ 276 $ 18 Derivative Liabilities: Foreign currency forward contracts designated as hedging instruments Accrued expenses and other liabilities $ 778 $ 518 Total derivative liabilities $ 778 $ 518 The following table presents the activity of foreign currency forward contracts designated as hedging instruments and the impact of these derivatives on accumulated other comprehensive income (“AOCI”) (in thousands): Nine Months Ended October 31, 2024 Beginning balance $ (501) Net gains (losses) recognized in other comprehensive income (499) Net (gains) losses reclassified from AOCI to earnings 497 Ending balance $ (502) As of October 31, 2024, net unrealized loss included in the balance of AOCI related to foreign currency forward contracts designated as hedging instruments was $0.5 million, all of which the Company expects to reclassify from AOCI into earnings over the next 12 months. The effect of foreign currency forward contracts was $0.5 million to the condensed consolidated financials for the nine months ended October 31, 2024.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. Commitments and Contingencies Letter of credit The Company has a total of $1.8 million in letters of credit outstanding as security deposits for the Company’s leased office spaces as of October 31, 2024. Purchase Commitments In the normal course of business, the Company enters into non-cancelable purchase commitments with various parties to purchase products and services such as software subscriptions and corporate events. In February 2024, the Company signed an agreement with a cloud service provider. Under that agreement the Company has minimum spend commitments of $18.5 million in the 12 months ending February 2025, and $20.0 million in the 12 months ending February 2026, $22.5 million in the 12 months ending February 2027, $24.0 million in the 12 months ending February 2028, and $25.0 million in the 12 months ending February 2029. IBM Merger Contingencies In connection with the proposed Merger with IBM, the Company expects to incur an additional liability of approximately $92 million, which primarily represents transaction fees that are contingent upon the consummation of the Merger. Litigation From time to time, the Company may become involved in various legal proceedings in the ordinary course of its business and may be subject to third-party infringement claims. In the normal course of business, the Company may agree to indemnify third parties with whom it enters into contractual relationships, including customers, lessors, and parties to other transactions with the Company, with respect to certain matters. The Company has agreed, under certain conditions, to hold these third parties harmless against specified losses, such as those arising from a breach of representations or covenants, other third-party claims that the Company’s products when used for their intended purposes infringe the intellectual property rights of such other third parties, or other claims made against certain parties. It is not possible to determine the maximum potential amount of liability under these indemnification obligations due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances that are likely to be involved in each particular claim.

Common Stock and Stockholders'

Common Stock and Stockholders' Equity	9 Months Ended
	Oct. 31, 2024
Equity [Abstract]
Common Stock and Stockholders' Equity	7. Common Stock and Stockholders' Equity Restricted Stock Units The Company’s summary of restricted stock units ("RSUs") activity under the 2021 Plan is as follows (in thousands): Number of Awards Weighted-Average Grant Date Fair Value Outstanding and unvested at January 31, 2024 12,067 $ 35.48 RSUs granted 6,049 $ 29.99 RSUs released (3,677) $ 36.85 RSUs cancelled (2,657) $ 33.95 Outstanding and unvested at October 31, 2024 11,782 $ 32.52 Employee Stock Purchase Plan ("ESPP") Pursuant to the terms of the Merger Agreement with IBM, the Company stopped providing any new offering periods under the ESPP subsequent to June 15, 2024 and has cancelled all future purchase periods of any existing offering periods. As a result of the cancellation of the future purchase periods, the Company accelerated $13.8 million of expense in addition to the $3.5 million of expense related to the ESPP recorded during the nine months ended October 31, 2024. During the nine months ended October 31, 2024, employees purchased 342,179 shares of common stock under the ESPP at a purchase price of $19.47 per share, resulting in total cash proceeds of $6.7 million. Performance Stock Units ("PSUs") In February 2024, the Company granted 335,159 shares of Class A common stock as PSUs, with a grant date fair value of approximately $8.7 million, or $26.03 per share to the executive team. The number of shares of the Company’s common stock that will vest based on the performance conditions can range from 0% to 200% of the target amount. The amount of PSUs that will ultimately vest is based on the level of achievement of certain financial performance metrics related to the Company's fiscal 2025 operating plan, and vest over a three-year period, with the first vest at the anniversary of the grant, after results have been finalized, and the remainder quarterly thereafter, subject to continuous service. Compensation expense for PSUs with performance conditions is measured using the fair value at the date of grant, and may be adjusted over the vesting period based on interim estimates of performance against the performance condition. Expense is recorded over the vesting period under the graded-vesting attribution method. As of October 31, 2024, total unrecognized stock-based compensation cost related to PSUs was $4.6 million. This unrecognized stock-based compensation cost is expected to be recognized using the accelerated attribution method over a weighted-average period of approximately 1.2 years. Stock-Based Compensation Expense Total stock-based compensation expense recognized in the Company’s condensed consolidated statements of operations is as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Cost of support $ 2,279 $ 2,411 $ 7,889 $ 7,511 Cost of cloud-hosted services 461 601 1,765 1,767 Cost of professional services and other 728 734 2,472 1,947 Sales and marketing 12,526 13,923 41,840 41,365 Research and development 11,187 12,674 38,294 37,347 General and administrative 7,274 13,423 29,312 40,111 Stock-based compensation expense, net of amounts capitalized $ 34,455 $ 43,766 $ 121,572 $ 130,048 Capitalized stock-based compensation 763 1,230 2,525 3,685 Total stock-based compensation expense $ 35,218 $ 44,996 $ 124,097 $ 133,733

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	9 Months Ended
	Oct. 31, 2024
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders	8. Net Loss Per Share Attributable to Common Stockholders For periods in which there were Class A and Class B shares outstanding, the rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock were identical, except with respect to voting, converting, and transfer rights. Class B common stock has ten votes per share, and Class A common stock has one vote per share. As the liquidation and dividend rights were identical for Class A and Class B common stock, the undistributed earnings would be allocated on a proportionate basis and the resulting net loss per share would, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data): Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Numerator: Net loss $ (13,006) $ (39,473) $ (90,596) $ (159,046) Denominator: Weighted-average shares used to compute net loss per share attributable to Class A and Class B common stockholders, basic and diluted 203,526 194,600 201,836 192,693 Net loss per share attributable to Class A and Class B common stockholders, basic and diluted $ (0.06) $ (0.20) $ (0.45) $ (0.83) The following outstanding potentially dilutive shares of common stock were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because the impact of including them would have been antidilutive (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Outstanding stock options and restricted stock units 17,433 21,502 17,433 21,502 Share purchase rights under the ESPP — 1,205 — 1,077 Total 17,433 22,707 17,433 22,579

Income Taxes

Income Taxes	9 Months Ended
	Oct. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes The Company determines its income tax provision for interim periods using an estimate of its annual effective tax rate adjusted for discrete items occurring during the periods presented. The primary difference between the effective tax rate and the federal statutory rate is related to nonrecognition of tax benefits due to valuation allowance established for U.S. federal and state deferred tax assets. The Company recorded income tax expenses of $1.9 million and $0.5 million for the nine months ended October 31, 2024 and 2023, respectively. The Company continues to maintain a valuation allowance for its U.S. Federal and state net deferred tax assets. The tax expense for the nine months ended October 31, 2024 was primarily due to foreign and US state income tax expense. The Company is subject to income tax in the United States, certain states, and various foreign countries. Due to the history of net operating losses, the Company is subject to United States federal, state, and local examinations by tax authorities for all years since incorporation.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Oct. 31, 2024	Jul. 31, 2024	Apr. 30, 2024	Oct. 31, 2023	Jul. 31, 2023	Apr. 30, 2023	Oct. 31, 2024	Oct. 31, 2023
Pay vs Performance Disclosure
Net loss	$ (13,006)	$ (26,462)	$ (51,128)	$ (39,473)	$ (66,315)	$ (53,258)	$ (90,596)	$ (159,046)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Oct. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America ("U.S. GAAP" or "GAAP") . Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the applicable rules and regulations of the Securities and Exchange Commission (the "SEC"). The unaudited condensed balance sheet data as of January 31, 2024 was derived from the Company’s audited financial statements included in its Annual Report on Form 10-K for the fiscal year ended January 31, 2024 (the fiscal “ 2024 Form 10-K”), but does not include all disclosures required by U.S. GAAP. Therefore, these interim unaudited condensed consolidated financial statements and accom panying footnotes should be read in conjunction with the Company’s annual consolidated financial statements and related footnotes included in the fiscal 2024 Form 10-K. The accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, that are, in the opinion of management, necessary for the fair presentation of the Company’s results for the interim periods presented. The results of operations for the three and nine months ended October 31, 2024 shown in this report are not necessarily indicative of the results to be expected for the full year ending January 31, 2025 or any other period.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of income and expense during the reporting period. Such management estimates include, but are not limited to, the determination of standalone selling prices of the Company’s performance obligations, the estimated period of benefit of deferred contract acquisition costs, the fair value of share-based awards, software development costs, discount rates used for operating leases, goodwill and acquisition-related intangible assets, and the valuation allowance on deferred tax assets and uncertain tax positions. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from those estimates.
Significant Accounting Policies	Significant Accounting Policies
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses. The amendments will require public entities to disclose significant segment expenses that are regularly provided to the chief operating decision maker and included within segment profit and loss. The amendments are effective for the Company's annual periods beginning January 31, 2024, and interim periods beginning April 30, 2025, with early adoption permitted, and will be applied retrospectively to all prior periods presented in the financial statements. The Company is currently evaluating the ASU to determine its impact on the Company’s disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which includes amendments that further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. The amendments are effective for the Company’s annual periods beginning January 31, 2025, with early adoption permitted, and should be applied either prospectively or retrospectively. The Company is currently evaluating the ASU to determine its impact on the Company’s disclosures. In November 2024, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Topic 220-40): Disaggregation of Income Statement Expenses, which provides amendments to improve financial reporting by requiring the disclosure of additional information about specific expense categories. The amendments are effective for the Company’s annual periods beginning January 31, 2027, and interim periods beginning April 30, 2028, with early adoption permitted, and should be applied either prospectively or retrospectively. The Company is currently evaluating the ASU to determine its impact on the Company’s disclosures.

Revenue and Performance Oblig_2

Revenue and Performance Obligations (Tables)	9 Months Ended
	Oct. 31, 2024
Disaggregation of Revenue [Abstract]
Summary of Revenue Disaggregated by Category	The following table presents revenue by category (in thousands, except percentages): Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Amount % of Total Amount % of Total Amount % of Total Amount % of Total License $ 21,202 12 % $ 15,973 11 % $ 54,039 11 % $ 47,855 11 % Support 117,656 68 106,098 72 347,455 70 312,008 73 Cloud-hosted services 28,962 17 19,863 14 80,086 16 54,779 13 Total subscription revenue 167,820 97 141,934 97 481,580 97 414,642 97 Professional services and other 5,569 3 4,191 3 17,527 3 12,712 3 Total revenue $ 173,389 100 % $ 146,125 100 % $ 499,107 100 % $ 427,354 100 %
Summary of Revenue by Region Based on the Billing Address of Customers	The following table summarizes the revenue by region based on the billing address of customers who have contracted to use the Company's products and services (in thousands, except percentages): Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Amount % of Total Amount % of Total Amount % of Total Amount % of Total United States $ 117,530 68 % $ 102,365 70 % $ 338,328 68 % $ 300,979 70 % Rest of the world 55,860 32 % 43,760 30 % 160,779 32 126,375 30 Total $ 173,389 100 % $ 146,125 100 % $ 499,107 100 % $ 427,354 100 %
Summary of Changes in Deferred Revenue and Unbilled Accounts Receivable	Changes in deferred revenue and unbilled accounts receivable were as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Balance, beginning of period $ 321,685 $ 293,441 $ 361,553 $ 302,244 Deferred revenue billings including reclassification to deferred revenue from customer deposits 178,372 142,390 463,315 415,646 Recognition of revenue, net of change in unbilled accounts receivable* (173,046) (145,629) (497,857) (427,688) Balance, end of period $ 327,011 $ 290,202 $ 327,011 $ 290,202 * Reconciliation to revenue reported per consolidated statements of operations: Revenue billed as of the end of the period $ 173,046 $ 145,629 $ 497,857 $ 427,688 Increase (decrease) in total unbilled accounts receivable 343 496 1,250 (334) Revenue reported per consolidated statements of operations $ 173,389 $ 146,125 $ 499,107 $ 427,354
Summary of Revenue Recognized Related to Customer Deposit Balance	If no contracts with customers are cancelled, the existing customer deposit balance will be recognized to revenue over the remaining stated term of the underlying contract which may be over the next 12 months or longer as follows (in thousands): As of October 31, 2024 January 31, 2024 Within the next 12 months $ 17,920 $ 22,882 After the next 12 months 2,297 2,745 Total $ 20,217 $ 25,627

Investments and Fair Value Me_2

Investments and Fair Value Measurements (Tables)	9 Months Ended
	Oct. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets Measured at Fair Value on a Recurring Basis	The following table sets forth the financial assets, measured at fair value, by level within the fair value hierarchy on a recurring basis and indicates the fair value hierarchy of the valuation inputs used to determine such fair value (in thousands): Fair Value Measurement as of October 31, 2024 Fair Value Level Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Assets: Cash and cash equivalents: Money market funds Level 1 $ 91,073 $ — $ — $ 91,073 U.S. treasury securities Level 2 52,153 1 (6) 52,148 Corporate notes and bonds Level 2 5,898 — — 5,898 Commercial paper Level 2 $ 4,979 $ — $ — $ 4,979 Total assets measured at fair value included in cash and cash equivalents $ 154,103 $ 1 $ (6) $ 154,098 Short-term Investments: U.S. treasury securities Level 2 228,566 310 (6) 228,870 U.S. agency obligations Level 2 13,811 14 — 13,824 Corporate notes and bonds Level 2 148,823 584 (15) 149,392 Commercial paper Level 2 25,433 — — 25,433 Certificates of deposit Level 2 5,254 — — 5,254 Total short-term investments $ 421,887 $ 908 $ (21) $ 422,774 Derivative instruments: Foreign currency forward contracts Level 2 — 276 — 276 Total assets measured at fair value $ 575,990 $ 1,185 $ (27) $ 577,148 Liabilities: Derivative instruments: Foreign currency forward contracts Level 2 $ — $ — $ 778 $ 778 Total derivative instruments — — 778 778 Total liabilities measured at fair value $ — $ — $ 778 $ 778 The following table summarizes the respective fair value and the classification by level within the fair value hierarchy (in thousands): Fair Value Measurement as of January 31, 2024 Fair Value Level Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Assets: Cash and cash equivalents: Money market funds Level 1 $ 63,137 $ — $ — $ 63,137 U.S. treasury securities Level 2 9,495 — — 9,495 Commercial paper Level 2 10,981 — — 10,981 Total assets measured at fair value included in cash and cash equivalents $ 83,613 $ — $ — $ 83,613 Short-term Investments: U.S. treasury securities Level 2 $ 244,778 $ 150 $ (141) $ 244,787 U.S. agency obligations Level 2 79,693 50 (23) 79,720 Corporate notes and bonds Level 2 103,552 141 (70) 103,623 Commercial paper Level 2 46,523 — — 46,523 Certificates of deposit Level 2 40,510 — — 40,510 Total short-term investments $ 515,056 $ 341 $ (234) $ 515,163 Derivative instruments: Foreign currency forward contracts Level 2 — — 18 18 Total assets measured at fair value $ 598,669 $ 341 $ (216) $ 598,794 Liabilities: Derivative instruments: Foreign currency forward contracts Level 2 $ — $ — $ 518 $ 518 Total derivative instruments — — 518 518 Total liabilities measured at fair value $ — $ — $ 518 $ 518
Summary of Contractual Maturities	The following table summarizes the contractual maturities of the Company’s short-term investments (in thousands): As of October 31, 2024 Amortized Cost Fair Value Due within one year $ 360,364 $ 360,796 Due after one year through five years 61,523 61,978 Total $ 421,887 $ 422,774 As of January 31, 2024 Amortized Cost Fair Value Due within one year $ 447,001 446,902 Due after one year through five years 68,055 68,261 Total $ 515,056 $ 515,163

Derivative Instruments and He_2

Derivative Instruments and Hedging (Tables)	9 Months Ended
	Oct. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of the Fair Value of Derivative Instruments	The following table summarizes the fair value of the Company’s derivative instruments in the condensed consolidated balance sheets (in thousands): Balance Sheet Location Fair Value as of October 31, 2024 Fair Value as of January 31, 2024 Derivative Assets: Foreign currency forward contracts designated as hedging instruments Prepaid expenses and other current assets $ 276 $ 18 Total derivative assets $ 276 $ 18 Derivative Liabilities: Foreign currency forward contracts designated as hedging instruments Accrued expenses and other liabilities $ 778 $ 518 Total derivative liabilities $ 778 $ 518
Schedule of Derivatives and the Impact on AOCI	The following table presents the activity of foreign currency forward contracts designated as hedging instruments and the impact of these derivatives on accumulated other comprehensive income (“AOCI”) (in thousands): Nine Months Ended October 31, 2024 Beginning balance $ (501) Net gains (losses) recognized in other comprehensive income (499) Net (gains) losses reclassified from AOCI to earnings 497 Ending balance $ (502)

Common Stock and Stockholders_2

Common Stock and Stockholders' Equity (Tables)	9 Months Ended
	Oct. 31, 2024
Equity [Abstract]
Schedule of Restricted Stock Units (RSUs") Activity	The Company’s summary of restricted stock units ("RSUs") activity under the 2021 Plan is as follows (in thousands): Number of Awards Weighted-Average Grant Date Fair Value Outstanding and unvested at January 31, 2024 12,067 $ 35.48 RSUs granted 6,049 $ 29.99 RSUs released (3,677) $ 36.85 RSUs cancelled (2,657) $ 33.95 Outstanding and unvested at October 31, 2024 11,782 $ 32.52
Summary of Stock-Based Compensation Expense	Total stock-based compensation expense recognized in the Company’s condensed consolidated statements of operations is as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Cost of support $ 2,279 $ 2,411 $ 7,889 $ 7,511 Cost of cloud-hosted services 461 601 1,765 1,767 Cost of professional services and other 728 734 2,472 1,947 Sales and marketing 12,526 13,923 41,840 41,365 Research and development 11,187 12,674 38,294 37,347 General and administrative 7,274 13,423 29,312 40,111 Stock-based compensation expense, net of amounts capitalized $ 34,455 $ 43,766 $ 121,572 $ 130,048 Capitalized stock-based compensation 763 1,230 2,525 3,685 Total stock-based compensation expense $ 35,218 $ 44,996 $ 124,097 $ 133,733

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	9 Months Ended
	Oct. 31, 2024
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders	The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data): Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Numerator: Net loss $ (13,006) $ (39,473) $ (90,596) $ (159,046) Denominator: Weighted-average shares used to compute net loss per share attributable to Class A and Class B common stockholders, basic and diluted 203,526 194,600 201,836 192,693 Net loss per share attributable to Class A and Class B common stockholders, basic and diluted $ (0.06) $ (0.20) $ (0.45) $ (0.83)
Schedule of Antidilutive Securities Excluded from Computation of Diluted Net Loss Per Share	The following outstanding potentially dilutive shares of common stock were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because the impact of including them would have been antidilutive (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2024 2023 2024 2023 Outstanding stock options and restricted stock units 17,433 21,502 17,433 21,502 Share purchase rights under the ESPP — 1,205 — 1,077 Total 17,433 22,707 17,433 22,579

Organization and Description _2

Organization and Description of Business (Details) - International Business Machines Corporation ("IBM") and McCloud Merger Sub, Inc. - USD ($) $ / shares in Units, $ in Millions	Apr. 24, 2024	Oct. 31, 2024
Business Acquisition, Contingent Consideration [Line Items]
Business combination, consideration transferred, equity interests issued and issuable, cash paid per acquiree share (in dollars per share)	$ 35
Business acquisition, transaction costs		$ 22.1
Contract Termination
Business Acquisition, Contingent Consideration [Line Items]
Restructuring charges	$ 264.2

Revenue and Performance Oblig_3

Revenue and Performance Obligations - Summary of Revenue Disaggregated by Category (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Disaggregation Of Revenue [Line Items]
Amount	$ 173,389	$ 146,125	$ 499,107	$ 427,354
% of Total Revenue | Product
Disaggregation Of Revenue [Line Items]
% of Total Revenue	100%	100%	100%	100%
Subscription revenue
Disaggregation Of Revenue [Line Items]
Amount	$ 167,820	$ 141,934	$ 481,580	$ 414,642
Subscription revenue | % of Total Revenue | Product
Disaggregation Of Revenue [Line Items]
% of Total Revenue	97%	97%	97%	97%
Subscription revenue | License
Disaggregation Of Revenue [Line Items]
Amount	$ 21,202	$ 15,973	$ 54,039	$ 47,855
Subscription revenue | License | % of Total Revenue | Product
Disaggregation Of Revenue [Line Items]
% of Total Revenue	12%	11%	11%	11%
Subscription revenue | Support
Disaggregation Of Revenue [Line Items]
Amount	$ 117,656	$ 106,098	$ 347,455	$ 312,008
Subscription revenue | Support | % of Total Revenue | Product
Disaggregation Of Revenue [Line Items]
% of Total Revenue	68%	72%	70%	73%
Subscription revenue | Cloud-hosted services
Disaggregation Of Revenue [Line Items]
Amount	$ 28,962	$ 19,863	$ 80,086	$ 54,779
Subscription revenue | Cloud-hosted services | % of Total Revenue | Product
Disaggregation Of Revenue [Line Items]
% of Total Revenue	17%	14%	16%	13%
Professional services and other
Disaggregation Of Revenue [Line Items]
Amount	$ 5,569	$ 4,191	$ 17,527	$ 12,712
Professional services and other | % of Total Revenue | Product
Disaggregation Of Revenue [Line Items]
% of Total Revenue	3%	3%	3%	3%

Revenue and Performance Oblig_4

Revenue and Performance Obligations - Summary of Revenue by Region Based on the Billing Address of Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Revenues From External Customers And Long Lived Assets [Line Items]
Amount	$ 173,389	$ 146,125	$ 499,107	$ 427,354
% of Total Revenue | Region
Revenues From External Customers And Long Lived Assets [Line Items]
% of Total Revenue	100%	100%	100%	100%
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Amount	$ 117,530	$ 102,365	$ 338,328	$ 300,979
United States | % of Total Revenue | Region
Revenues From External Customers And Long Lived Assets [Line Items]
% of Total Revenue	68%	70%	68%	70%
Rest of the world
Revenues From External Customers And Long Lived Assets [Line Items]
Amount	$ 55,860	$ 43,760	$ 160,779	$ 126,375
Rest of the world | % of Total Revenue | Region
Revenues From External Customers And Long Lived Assets [Line Items]
% of Total Revenue	32%	30%	32%	30%

Revenue and Performance Oblig_5

Revenue and Performance Obligations - Changes in Deferred Revenue and Unbilled Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Contract With Customer, Change In Contract With Customer, Asset, And Liability [Roll Forward]
Balance, beginning of period	$ 321,685	$ 293,441	$ 361,553	$ 302,244
Deferred revenue billings including reclassification to deferred revenue from customer deposits	178,372	142,390	463,315	415,646
Recognition of revenue, net of change in unbilled accounts receivable	(173,046)	(145,629)	(497,857)	(427,688)
Balance, end of period	327,011	290,202	327,011	290,202
* Reconciliation to revenue reported per consolidated statements of operations:
Revenue billed as of the end of the period	173,046	145,629	497,857	427,688
Increase (decrease) in total unbilled accounts receivable	343	496	1,250	(334)
Revenue reported per consolidated statements of operations	$ 173,389	$ 146,125	$ 499,107	$ 427,354

Revenue and Performance Oblig_6

Revenue and Performance Obligations - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 31, 2024	Jan. 31, 2024
Disaggregation Of Revenue [Line Items]
Unbilled accounts receivable balance in due	1 year
Unbilled accounts receivable	$ 5.1	$ 3.8
Remaining performance obligations	$ 775.4	$ 775.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-02-01
Disaggregation Of Revenue [Line Items]
Remaining performance obligations, percentage		59%
Revenue remaining performance obligation, expected timing of satisfaction, period		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-11-01
Disaggregation Of Revenue [Line Items]
Remaining performance obligations, percentage	62%
Revenue remaining performance obligation, expected timing of satisfaction, period	12 months
Minimum
Disaggregation Of Revenue [Line Items]
Revenue, performance obligation, contract term	1 year
Maximum
Disaggregation Of Revenue [Line Items]
Revenue, performance obligation, contract term	3 years

Revenue and Performance Oblig_7

Revenue and Performance Obligations - Summary of Revenue Recognized Related to Customer Deposit Balance (Details) - USD ($) $ in Thousands	Oct. 31, 2024	Jan. 31, 2024
Disaggregation of Revenue [Abstract]
Within the next 12 months	$ 17,920	$ 22,882
After the next 12 months	2,297	2,745
Total	$ 20,217	$ 25,627

Investments and Fair Value Me_3

Investments and Fair Value Measurements - Schedule of Financial Assets Measured at Fair Value, by Level Within the Fair Value Hierarchy on a Recurring Basis (Details) - USD ($) $ in Thousands	Oct. 31, 2024	Jan. 31, 2024
Short-term Investments:
Amortized Cost	$ 421,887	$ 515,056
Estimated Fair Value	422,774	515,163
Derivative instruments:
Estimated Fair Value	$ 276	$ 18
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Fair Value, Recurring
Cash and cash equivalents:
Amortized Cost	$ 154,103	$ 83,613
Gross Unrealized Gains	1	0
Gross Unrealized Losses	(6)	0
Estimated Fair Value	154,098	83,613
Short-term Investments:
Amortized Cost	421,887	515,056
Gross Unrealized Gains	908	341
Gross Unrealized Losses	(21)	(234)
Estimated Fair Value	422,774	515,163
Derivative instruments:
Total asset measured at fair value, amortized cost	575,990	598,669
Total assets measured at fair value, gross unrealized gains	1,185	341
Total asset measured at fair value, gross unrealized losses	(27)	(216)
Total Assets	577,148	598,794
Derivative instruments:
Derivative instruments	778	518
Level 1 | Fair Value, Recurring | Money market funds
Cash and cash equivalents:
Amortized Cost	91,073	63,137
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	91,073	63,137
Level 2 | Fair Value, Recurring
Derivative instruments:
Derivative instruments	778	518
Level 2 | Fair Value, Recurring | Foreign currency forward contracts
Derivative instruments:
Amortized Cost	0	0
Gross Unrealized Gains	276	0
Gross Unrealized Losses	0	18
Estimated Fair Value	276	18
Derivative instruments:
Derivative instruments	778	518
Level 2 | Fair Value, Recurring | U.S. treasury securities
Cash and cash equivalents:
Amortized Cost	52,153	9,495
Gross Unrealized Gains	1	0
Gross Unrealized Losses	(6)	0
Estimated Fair Value	52,148	9,495
Level 2 | Fair Value, Recurring | Corporate notes and bonds
Cash and cash equivalents:
Amortized Cost	5,898
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Estimated Fair Value	5,898
Level 2 | Fair Value, Recurring | Commercial paper
Cash and cash equivalents:
Amortized Cost	4,979	10,981
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	4,979	10,981
Level 2 | Fair Value, Recurring | U.S. treasury securities
Short-term Investments:
Amortized Cost	228,566	244,778
Gross Unrealized Gains	310	150
Gross Unrealized Losses	(6)	(141)
Estimated Fair Value	228,870	244,787
Level 2 | Fair Value, Recurring | U.S. agency obligations
Short-term Investments:
Amortized Cost	13,811	79,693
Gross Unrealized Gains	14	50
Gross Unrealized Losses	0	(23)
Estimated Fair Value	13,824	79,720
Level 2 | Fair Value, Recurring | Corporate notes and bonds
Short-term Investments:
Amortized Cost	148,823	103,552
Gross Unrealized Gains	584	141
Gross Unrealized Losses	(15)	(70)
Estimated Fair Value	149,392	103,623
Level 2 | Fair Value, Recurring | Commercial paper
Short-term Investments:
Amortized Cost	25,433	46,523
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	25,433	46,523
Level 2 | Fair Value, Recurring | Certificates of deposit
Short-term Investments:
Amortized Cost	5,254	40,510
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	$ 5,254	$ 40,510

Investments and Fair Value Me_4

Investments and Fair Value Measurements - Additional Information (Details) - USD ($)	9 Months Ended
	Oct. 31, 2024	Oct. 31, 2023
Fair Value Disclosures [Abstract]
Fair value measurement, transfers level 1 to level 2	$ 0	$ 0

Investments and Fair Value Me_5

Investments and Fair Value Measurements - Summary of Contractual Maturities (Details) - USD ($) $ in Thousands	Oct. 31, 2024	Jan. 31, 2024
Amortized Cost
Due within one year	$ 360,364	$ 447,001
Due after one year through five years	61,523	68,055
Amortized Cost	421,887	515,056
Fair Value
Due within one year	360,796	446,902
Due after one year through five years	61,978	68,261
Estimated Fair Value	$ 422,774	$ 515,163

Derivative Instruments and He_3

Derivative Instruments and Hedging - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 31, 2024	Jan. 31, 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Cash collateral for borrowed securities	$ 0.5
Accumulated other comprehensive loss related to foreign currency forwards	(0.5)
Other comprehensive income (loss), foreign currency transaction and translation adjustment, net of tax	0.5
Foreign Exchange Forward
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 61	$ 49.3

Derivative Instruments and He_4

Derivative Instruments and Hedging - Summary of the Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Oct. 31, 2024	Jan. 31, 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	$ 276	$ 18
Total derivative liabilities	778	518
Foreign Exchange Forward | Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total derivative assets	276	18
Total derivative liabilities	$ 778	$ 518

Derivative Instruments and He_5

Derivative Instruments and Hedging - Schedule of Derivatives and the Impact on AOCI (Details) $ in Thousands	9 Months Ended
	Oct. 31, 2024 USD ($)
Derivative Instruments and Hedging Activities [Roll Forward]
Beginning balance	$ 1,212,993
Ending balance	1,257,665
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Derivative Instruments and Hedging Activities [Roll Forward]
Beginning balance	(501)
Net gains (losses) recognized in other comprehensive income	(499)
Net (gains) losses reclassified from AOCI to earnings	497
Ending balance	$ (502)

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Oct. 31, 2024	Feb. 29, 2024
Other Commitments [Line Items]
Letters of credit outstanding amount	$ 1.8
IBM
Other Commitments [Line Items]
Business combination, contingent consideration, liability	$ 92
Cloud Service Provider
Other Commitments [Line Items]
Other commitment, to be paid, year one		$ 18.5
Other commitment, to be paid, year two		20
Other commitment, to be paid, year three		22.5
Other commitment, to be paid, year four		24
Other commitment, to be paid, year five		$ 25

Common Stock and Stockholders_3

Common Stock and Stockholders' Equity - Schedule of Restricted Stock Units ("RSUs") Activity (Details) - 2021 Equity Incentive Plan - Restricted Stock Units shares in Thousands	9 Months Ended
	Oct. 31, 2024 $ / shares shares
Number of Awards
Beginning balance (in shares) | shares	12,067
RSUs granted (in shares) | shares	6,049
RSUs released (in shares) | shares	(3,677)
RSUs cancelled (in shares) | shares	(2,657)
Ending balance (in shares) | shares	11,782
Weighted-Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 35.48
RSUs granted (in dollars per share) | $ / shares	29.99
RSUs released (in dollars per share) | $ / shares	36.85
RSUs cancelled (in dollars per share) | $ / shares	33.95
Ending balance (in dollars per share) | $ / shares	$ 32.52

Common Stock and Stockholders_4

Common Stock and Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 29, 2024	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense, net of amounts capitalized		$ 34,455	$ 43,766	$ 121,572	$ 130,048
Employee Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based payment arrangement, accelerated cost				13,800
Stock-based compensation expense, net of amounts capitalized				$ 3,500
Employee stock purchase plan, shares issued (in shares)				342,179
Purchase price per share (dollars per share)		$ 19.47		$ 19.47
Cash proceeds from common stock				$ 6,700
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs granted (in shares)	335,159
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period, fair value	$ 8,700
Share-based compensation arrangement by share-based payment award, options, grants in period, weighted average grant date fair value (in dollars per share)	$ 26.03
Share-based compensation arrangement by share-based payment award, award vesting period	3 years
Unrecognized stock-based compensation expense		$ 4,600		$ 4,600
Unrecognized stock-based compensation expense, weighted-average period				1 year 2 months 12 days
Performance Shares | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage	0%
Performance Shares | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage	200%

Common Stock and Stockholders_5

Common Stock and Stockholders' Equity - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Stock-based compensation expense:
Stock-based compensation expense, net of amounts capitalized	$ 34,455	$ 43,766	$ 121,572	$ 130,048
Capitalized stock-based compensation	763	1,230	2,525	3,685
Total stock-based compensation expense	35,218	44,996	124,097	133,733
Cost of revenue | Support
Stock-based compensation expense:
Stock-based compensation expense, net of amounts capitalized	2,279	2,411	7,889	7,511
Cost of revenue | Cloud-hosted services
Stock-based compensation expense:
Stock-based compensation expense, net of amounts capitalized	461	601	1,765	1,767
Cost of revenue | Professional services and other
Stock-based compensation expense:
Stock-based compensation expense, net of amounts capitalized	728	734	2,472	1,947
Sales and marketing
Stock-based compensation expense:
Stock-based compensation expense, net of amounts capitalized	12,526	13,923	41,840	41,365
Research and development
Stock-based compensation expense:
Stock-based compensation expense, net of amounts capitalized	11,187	12,674	38,294	37,347
General and administrative
Stock-based compensation expense:
Stock-based compensation expense, net of amounts capitalized	$ 7,274	$ 13,423	$ 29,312	$ 40,111

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders - Additional Information (Details)	9 Months Ended
	Oct. 31, 2024 vote
Class B Common Stock
Class Of Stock [Line Items]
Common stock, voting rights	10
Class A Common Stock
Class Of Stock [Line Items]
Common stock, voting rights	1

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Stockholders - Summary of Computation of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Oct. 31, 2024	Jul. 31, 2024	Apr. 30, 2024	Oct. 31, 2023	Jul. 31, 2023	Apr. 30, 2023	Oct. 31, 2024	Oct. 31, 2023
Numerator:
Net loss	$ (13,006)	$ (26,462)	$ (51,128)	$ (39,473)	$ (66,315)	$ (53,258)	$ (90,596)	$ (159,046)
Denominator:
Weighted-average shares used to compute net loss per share attributable to Class A and Class B common stockholders, basic (in shares)	203,526			194,600			201,836	192,693
Weighted-average shares used to compute net loss per share attributable to Class A and Class B common stockholders, diluted (in shares)	203,526			194,600			201,836	192,693
Net loss per share attributable to Class A and Class B common stockholders, basic (in dollars per share)	$ (0.06)			$ (0.20)			$ (0.45)	$ (0.83)
Net loss per share attributable to Class A and Class B common stockholders, diluted (in dollars per share)	$ (0.06)			$ (0.20)			$ (0.45)	$ (0.83)

Net Loss Per Share Attributab_5

Net Loss Per Share Attributable to Common Stockholders - Schedule of Antidilutive Securities Excluded from Computation of Diluted Net Loss Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	17,433	22,707	17,433	22,579
Outstanding stock options and restricted stock units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	17,433	21,502	17,433	21,502
Share purchase rights under the ESPP
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	1,205	0	1,077

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2024	Oct. 31, 2023	Oct. 31, 2024	Oct. 31, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 611	$ 258	$ 1,923	$ 480