Cover
Cover - shares | 6 Months Ended | |
Jul. 31, 2023 | Sep. 05, 2023 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jul. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-40348 | |
Entity Registrant Name | UiPath, Inc. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 47-4333187 | |
Entity Address, Address Line One | One Vanderbilt Avenue, 60th Floor | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10017 | |
City Area Code | 844 | |
Local Phone Number | 432-0455 | |
Title of 12(b) Security | Class A common stock, par value$0.00001 per share | |
Trading Symbol | PATH | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Amendment Flag | false | |
Entity Central Index Key | 0001734722 | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q2 | |
Current Fiscal Year End Date | --01-31 | |
Class A Common Stock | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 484,285,345 | |
Class B Common Stock | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 82,452,748 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jul. 31, 2023 | Jan. 31, 2023 |
Current assets | ||
Cash and cash equivalents | $ 1,093,898 | $ 1,402,119 |
Restricted cash | 400 | 0 |
Marketable securities | 735,670 | 354,774 |
Accounts receivable, net of allowance for credit losses of $1,128 and $2,698, respectively | 226,327 | 374,217 |
Contract assets | 80,602 | 69,260 |
Deferred contract acquisition costs | 59,326 | 49,887 |
Prepaid expenses and other current assets | 107,373 | 94,150 |
Total current assets | 2,303,596 | 2,344,407 |
Marketable securities, non-current | 0 | 2,942 |
Contract assets, non-current | 5,021 | 6,523 |
Deferred contract acquisition costs, non-current | 134,021 | 137,616 |
Property and equipment, net | 24,679 | 29,045 |
Operating lease right-of-use assets | 52,847 | 52,052 |
Intangible assets, net | 19,244 | 23,010 |
Goodwill | 90,051 | 88,010 |
Deferred tax asset | 5,573 | 5,895 |
Other assets, non-current | 35,108 | 45,706 |
Total assets | 2,670,140 | 2,735,206 |
Current liabilities | ||
Accounts payable | 1,887 | 8,891 |
Accrued expenses and other current liabilities | 64,404 | 76,645 |
Accrued compensation and employee benefits | 67,836 | 142,582 |
Deferred revenue | 384,015 | 398,334 |
Total current liabilities | 518,142 | 626,452 |
Deferred revenue, non-current | 103,780 | 121,697 |
Operating lease liabilities, non-current | 56,699 | 56,442 |
Other liabilities, non-current | 8,153 | 10,457 |
Total liabilities | 686,774 | 815,048 |
Commitments and contingencies (Note 11) | ||
Stockholders' equity | ||
Preferred stock, $0.00001 par value per share, 20,000 shares authorized as of July 31, 2023 and January 31, 2023; 0 shares issued and outstanding as of July 31, 2023 and January 31, 2023 | 0 | 0 |
Additional paid-in capital | 3,888,414 | 3,736,838 |
Accumulated other comprehensive income | 11,506 | 7,612 |
Accumulated deficit | (1,916,560) | (1,824,298) |
Total stockholders’ equity | 1,983,366 | 1,920,158 |
Total liabilities and stockholders’ equity | 2,670,140 | 2,735,206 |
Class A Common Stock | ||
Stockholders' equity | ||
Common stock | 5 | 5 |
Class B Common Stock | ||
Stockholders' equity | ||
Common stock | $ 1 | $ 1 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands | Jul. 31, 2023 | Jan. 31, 2023 |
Accounts receivable, allowance for doubtful accounts | $ 1,128 | $ 2,698 |
Preferred stock, par value (in dollars per share) | $ 0.00001 | $ 0.00001 |
Preferred stock, shares authorized (in shares) | 20,000 | 20,000 |
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) | $ 0.00001 | $ 0.00001 |
Common stock, shares authorized (in shares) | 2,000,000 | 2,000,000 |
Common stock, shares issued (in shares) | 484,128 | 474,160 |
Common stock, shares outstanding (in shares) | 484,128 | 474,160 |
Class B Common Stock | ||
Common stock, par value (in dollars per share) | $ 0.00001 | $ 0.00001 |
Common stock, shares authorized (in shares) | 115,741 | 115,741 |
Common stock, shares issued (in shares) | 82,453 | 82,453 |
Common stock, shares outstanding (in shares) | 82,453 | 82,453 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Revenue: | ||||
Total revenue | $ 287,310 | $ 242,222 | $ 576,898 | $ 487,288 |
Cost of revenue: | ||||
Total cost of revenue | 48,987 | 44,576 | 92,654 | 89,592 |
Gross profit | 238,323 | 197,646 | 484,244 | 397,696 |
Operating expenses: | ||||
Sales and marketing | 169,725 | 181,547 | 330,131 | 371,329 |
Research and development | 86,606 | 67,849 | 161,948 | 136,539 |
General and administrative | 59,577 | 68,443 | 116,161 | 125,973 |
Total operating expenses | 315,908 | 317,839 | 608,240 | 633,841 |
Operating loss | (77,585) | (120,193) | (123,996) | (236,145) |
Interest income | 13,582 | 4,505 | 27,430 | 5,496 |
Other income (expense), net | 7,472 | (600) | 11,766 | (3,411) |
Loss before income taxes | (56,531) | (116,288) | (84,800) | (234,060) |
Provision for income taxes | 3,830 | 4,090 | 7,462 | 8,879 |
Net loss | $ (60,361) | $ (120,378) | $ (92,262) | $ (242,939) |
Net loss per share attributable to common stockholders, basic (in dollars per share) | $ (0.11) | $ (0.22) | $ (0.16) | $ (0.45) |
Net loss per share attributable to common stockholders, diluted (in dollars per share) | $ (0.11) | $ (0.22) | $ (0.16) | $ (0.45) |
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) | 562,883 | 546,058 | 560,422 | 544,014 |
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) | 562,883 | 546,058 | 560,422 | 544,014 |
Licenses | ||||
Revenue: | ||||
Total revenue | $ 119,300 | $ 103,696 | $ 253,339 | $ 220,700 |
Cost of revenue: | ||||
Total cost of revenue | 3,008 | 2,170 | 5,555 | 4,707 |
Subscription services | ||||
Revenue: | ||||
Total revenue | 159,999 | 124,656 | 306,351 | 240,150 |
Cost of revenue: | ||||
Total cost of revenue | 26,777 | 22,326 | 49,855 | 43,371 |
Professional services and other | ||||
Revenue: | ||||
Total revenue | 8,011 | 13,870 | 17,208 | 26,438 |
Cost of revenue: | ||||
Total cost of revenue | $ 19,202 | $ 20,080 | $ 37,244 | $ 41,514 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Statement of Comprehensive Income [Abstract] | ||||
Net loss | $ (60,361) | $ (120,378) | $ (92,262) | $ (242,939) |
Other comprehensive income (loss), net of tax: | ||||
Unrealized (loss) gain on available-for-sale marketable securities, net | (161) | 159 | (18) | (301) |
Foreign currency translation adjustments | 1,593 | 550 | 3,912 | 552 |
Other comprehensive income, net | 1,432 | 709 | 3,894 | 251 |
Comprehensive loss | $ (58,929) | $ (119,669) | $ (88,368) | $ (242,688) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Class A Common Stock | Class B Common Stock | Common Stock Class A Common Stock | Common Stock Class B Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Income | Accumulated Deficit |
Beginning balance (in shares) at Jan. 31, 2022 | 458,773 | 82,453 | ||||||
Beginning balance at Jan. 31, 2022 | $ 1,921,917 | $ 4 | $ 1 | $ 3,406,959 | $ 10,899 | $ (1,495,946) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Issuance of common stock upon exercise of stock options (in shares) | 1,283 | |||||||
Issuance of common stock upon exercise of stock options | 2,683 | 2,683 | ||||||
Vesting of early exercised stock options | 1,355 | 1,355 | ||||||
Issuance of common stock upon settlement of restricted stock units (in shares) | 3,499 | |||||||
Tax withholdings on settlement of restricted stock units (in shares) | (1,125) | |||||||
Tax withholdings on settlement of restricted stock units | (24,827) | (24,827) | ||||||
Stock-based compensation | 102,085 | 102,085 | ||||||
Other comprehensive income (loss), net of tax | (458) | (458) | ||||||
Net loss | (122,561) | (122,561) | ||||||
Ending balance (in shares) at Apr. 30, 2022 | 462,430 | 82,453 | ||||||
Ending balance at Apr. 30, 2022 | 1,880,194 | $ 4 | $ 1 | 3,488,255 | 10,441 | (1,618,507) | ||
Beginning balance (in shares) at Jan. 31, 2022 | 458,773 | 82,453 | ||||||
Beginning balance at Jan. 31, 2022 | 1,921,917 | $ 4 | $ 1 | 3,406,959 | 10,899 | (1,495,946) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Other comprehensive income (loss), net of tax | 251 | |||||||
Net loss | (242,939) | $ (206,118) | $ (36,821) | |||||
Ending balance (in shares) at Jul. 31, 2022 | 466,998 | 82,453 | ||||||
Ending balance at Jul. 31, 2022 | 1,849,549 | $ 5 | $ 1 | 3,577,278 | 11,150 | (1,738,885) | ||
Beginning balance (in shares) at Apr. 30, 2022 | 462,430 | 82,453 | ||||||
Beginning balance at Apr. 30, 2022 | 1,880,194 | $ 4 | $ 1 | 3,488,255 | 10,441 | (1,618,507) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Issuance of common stock upon exercise of stock options (in shares) | 1,418 | |||||||
Issuance of common stock upon exercise of stock options | 1,878 | 1,878 | ||||||
Issuance of common stock upon settlement of restricted stock units (in shares) | 3,183 | |||||||
Issuance of common stock upon settlement of restricted stock units | 1 | $ 1 | ||||||
Tax withholdings on settlement of restricted stock units (in shares) | (1,040) | |||||||
Tax withholdings on settlement of restricted stock units | (18,922) | (18,922) | ||||||
Charitable donation of Class A common stock (in shares) | 300 | |||||||
Charitable donation of Class A common stock | 5,499 | 5,499 | ||||||
Shares issued in connection with business acquisition (in shares) | 570 | |||||||
Shares issued in connection with business acquisition | 2,965 | 2,965 | ||||||
Issuance of common stock under employee stock purchase plan (in shares) | 578 | |||||||
Issuance of common stock under employee stock purchase plan | 9,070 | 9,070 | ||||||
Repurchase of unvested early exercised stock options (in shares) | (441) | |||||||
Stock-based compensation | 88,533 | 88,533 | ||||||
Other comprehensive income (loss), net of tax | 709 | 709 | ||||||
Net loss | (120,378) | $ (102,201) | $ (18,177) | (120,378) | ||||
Ending balance (in shares) at Jul. 31, 2022 | 466,998 | 82,453 | ||||||
Ending balance at Jul. 31, 2022 | 1,849,549 | $ 5 | $ 1 | 3,577,278 | 11,150 | (1,738,885) | ||
Beginning balance (in shares) at Jan. 31, 2023 | 474,160 | 82,453 | 474,160 | 82,453 | ||||
Beginning balance at Jan. 31, 2023 | 1,920,158 | $ 5 | $ 1 | 3,736,838 | 7,612 | (1,824,298) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Issuance of common stock upon exercise of stock options (in shares) | 898 | |||||||
Issuance of common stock upon exercise of stock options | 1,175 | 1,175 | ||||||
Issuance of common stock upon settlement of restricted stock units (in shares) | 4,246 | |||||||
Tax withholdings on settlement of restricted stock units (in shares) | (1,463) | |||||||
Tax withholdings on settlement of restricted stock units | (25,697) | (25,697) | ||||||
Charitable donation of Class A common stock (in shares) | 281 | |||||||
Charitable donation of Class A common stock | 4,215 | 4,215 | ||||||
Stock-based compensation | 85,125 | 85,125 | ||||||
Other comprehensive income (loss), net of tax | 2,462 | 2,462 | ||||||
Net loss | (31,901) | (31,901) | ||||||
Ending balance (in shares) at Apr. 30, 2023 | 478,122 | 82,453 | ||||||
Ending balance at Apr. 30, 2023 | 1,955,537 | $ 5 | $ 1 | 3,801,656 | 10,074 | (1,856,199) | ||
Beginning balance (in shares) at Jan. 31, 2023 | 474,160 | 82,453 | 474,160 | 82,453 | ||||
Beginning balance at Jan. 31, 2023 | $ 1,920,158 | $ 5 | $ 1 | 3,736,838 | 7,612 | (1,824,298) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Issuance of common stock upon exercise of stock options (in shares) | 2,722 | |||||||
Charitable donation of Class A common stock (in shares) | 300 | |||||||
Other comprehensive income (loss), net of tax | $ 3,894 | |||||||
Net loss | (92,262) | $ (78,688) | $ (13,574) | |||||
Ending balance (in shares) at Jul. 31, 2023 | 484,128 | 82,453 | 484,128 | 82,453 | ||||
Ending balance at Jul. 31, 2023 | 1,983,366 | $ 5 | $ 1 | 3,888,414 | 11,506 | (1,916,560) | ||
Beginning balance (in shares) at Apr. 30, 2023 | 478,122 | 82,453 | ||||||
Beginning balance at Apr. 30, 2023 | 1,955,537 | $ 5 | $ 1 | 3,801,656 | 10,074 | (1,856,199) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Issuance of common stock upon exercise of stock options (in shares) | 1,824 | |||||||
Issuance of common stock upon exercise of stock options | 2,717 | 2,717 | ||||||
Issuance of common stock upon settlement of restricted stock units (in shares) | 5,026 | |||||||
Tax withholdings on settlement of restricted stock units (in shares) | (1,676) | |||||||
Tax withholdings on settlement of restricted stock units | (27,420) | (27,420) | ||||||
Issuance of common stock under employee stock purchase plan (in shares) | 832 | |||||||
Issuance of common stock under employee stock purchase plan | 9,313 | 9,313 | ||||||
Stock-based compensation | 102,148 | 102,148 | ||||||
Other comprehensive income (loss), net of tax | 1,432 | 1,432 | ||||||
Net loss | (60,361) | $ (51,519) | $ (8,842) | (60,361) | ||||
Ending balance (in shares) at Jul. 31, 2023 | 484,128 | 82,453 | 484,128 | 82,453 | ||||
Ending balance at Jul. 31, 2023 | $ 1,983,366 | $ 5 | $ 1 | $ 3,888,414 | $ 11,506 | $ (1,916,560) |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 31, 2023 | Jul. 31, 2022 | |
Cash flows from operating activities | ||
Net loss | $ (92,262) | $ (242,939) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 11,160 | 8,065 |
Amortization of deferred contract acquisition costs | 31,229 | 21,860 |
Net amortization on marketable securities | (10,745) | 860 |
Stock-based compensation expense | 187,145 | 189,706 |
Charitable donation of Class A common stock | 4,215 | 5,499 |
Amortization of operating lease right-of-use assets | 6,299 | 4,597 |
Provision for deferred income taxes | (57) | 1,505 |
Abandonment and impairment charges | 0 | 2,881 |
Other non-cash charges (credits), net | 965 | (1,031) |
Changes in operating assets and liabilities: | ||
Accounts receivable | 147,725 | 51,707 |
Contract assets | (9,455) | (26,146) |
Deferred contract acquisition costs | (36,389) | (39,572) |
Prepaid expenses and other assets | (6,679) | (4,277) |
Accounts payable | (6,033) | 2,759 |
Accrued expenses and other liabilities | (4,229) | (14,507) |
Accrued compensation and employee benefits | (74,184) | (45,042) |
Operating lease liabilities, net | (7,532) | (2,422) |
Deferred revenue | (29,547) | 9,876 |
Net cash provided by (used in) operating activities | 111,626 | (76,621) |
Cash flows from investing activities | ||
Purchases of marketable securities | (709,199) | (45,600) |
Maturities of marketable securities | 338,644 | 47,433 |
Purchases of property and equipment | (2,876) | (16,298) |
Payments related to business acquisitions, net of cash acquired | 0 | (29,477) |
Other investing, net | 2,754 | (507) |
Net cash used in investing activities | (370,677) | (44,449) |
Cash flows from financing activities | ||
Proceeds from exercise of stock options | 3,904 | 4,682 |
Payments of tax withholdings on net settlement of equity awards | (52,832) | (38,717) |
Net payments of tax withholdings on sell-to-cover equity award transactions | (679) | (10,132) |
Proceeds from employee stock purchase plan contributions | 9,643 | 8,507 |
Payment of deferred consideration related to business acquisition | (5,863) | 0 |
Repurchase of unvested early exercised stock options | 0 | (1,493) |
Net cash used in financing activities | (45,827) | (37,153) |
Effect of exchange rate changes | (2,943) | (3,144) |
Net decrease in cash, cash equivalents, and restricted cash | (307,821) | (161,367) |
Cash, cash equivalents and restricted cash - beginning of period | 1,402,119 | 1,768,723 |
Cash, cash equivalents and restricted cash - end of period | 1,094,298 | 1,607,356 |
Supplemental disclosure of cash flow information | ||
Cash paid for interest | 413 | 527 |
Cash paid for income taxes | 7,234 | 17,610 |
Supplemental disclosure of non-cash investing and financing activities | ||
Reduction in accrued expenses and other liabilities for vesting of early exercised stock options | 0 | 1,355 |
Value of shares issued in payment of business acquisitions | 0 | 2,965 |
Payable for marketable securities purchase | 0 | 3,638 |
Loan notes issued in connection with business acquisitions | 0 | 11,433 |
Tax withholdings on net settlement of restricted stock units, accrued but not yet paid | $ 2,466 | $ 5,129 |
Organization and Description of
Organization and Description of Business | 6 Months Ended |
Jul. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Description of Business | Organization and Description of Business Description of Business UiPath, Inc. (the “Company,” “we,” “us,” or “our”) was incorporated in Delaware in June 2015 and is headquartered in New York, New York. Our AI-powered UiPath Business Automation Platform offers a robust set of capabilities that allows our customers to discover opportunities for automation, automate using a digital workforce that seamlessly collaborates with humans, and operate a mission critical automation program at scale. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jul. 31, 2023 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Our significant accounting policies are discussed in greater scope and detail in Note 2, Summary of Significant Accounting Policies , in the notes to consolidated financial statements included in the 2023 Form 10-K. There have been no significant changes to such policies during the six months ended July 31, 2023. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable regulations of the SEC regarding interim financial reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP may be condensed or omitted. The accompanying unaudited condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the accompanying notes thereto for the fiscal year ended January 31, 2023, which are included in the 2023 Form 10-K. The unaudited condensed consolidated financial statements have been prepared on the same basis as our audited consolidated financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, that are necessary for the fair presentation of our financial information. The unaudited condensed consolidated financial statements include the financial statements of UiPath, Inc. and its subsidiaries in which we hold a controlling financial interest. Intercompany transactions and accounts have been eliminated in consolidation. The results of operations for the six months ended July 31, 2023 are not necessarily indicative of the results to be expected for the fiscal year ending January 31, 2024 or for any other future interim or annual period. Fiscal Year Our fiscal year ends on January 31. References to fiscal year 2024, for example, refer to the fiscal year ending January 31, 2024. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities at the balance sheet date and the amounts of revenue and expenses reported during the period. We evaluate estimates based on historical and anticipated results, trends, and various other assumptions. Such estimates include, but are not limited to, certain aspects of revenue recognition including changes in variable consideration, expected period of benefit for deferred contract acquisition costs, allowance for credit losses, fair value of financial assets and liabilities, fair value of acquired assets and assumed liabilities, useful lives of long-lived assets, capitalized software development costs, carrying value of operating lease right-of-use (“ROU”) assets and operating lease liabilities, incremental borrowing rates for operating leases, amount of stock-based compensation expense, timing and amount of contingencies, costs related to our restructuring actions, uncertain tax positions, and valuation allowance for deferred income taxes. Actual results could differ from these estimates and assumptions. Foreign Currency The functional currency of our non-U.S. subsidiaries is the local currency. Asset and liability balances denominated in non-U.S. dollar currencies are translated into U.S. dollars using period-end exchange rates, while revenue and expenses are translated using average monthly exchange rates. Differences are included in stockholders’ equity as a component of accumulated other comprehensive income. Financial assets and liabilities denominated in currencies other than the functional currency are recorded at the exchange rate at the time of the transaction and subsequent gains and losses related to changes in the foreign currency are included in other income (expense), net in the condensed consolidated statements of operations. For the three months ended July 31, 2023 and 2022, we recognized transaction losses of $0.6 million and $0.8 million, respectively. For the six months ended July 31, 2023 and 2022, we recognized transaction losses of $1.4 million and $2.2 million, respectively. Concentration of Risks Financial instruments that potentially subject us to significant concentrations of credit risk consist principally of cash and cash equivalents, marketable securities, and accounts receivable. We maintain our cash balance at financial institutions that management believes are high-credit, quality financial institutions, where our deposits, at times, exceed Federal Deposit Insurance Corporation (“FDIC”) limits. As of July 31, 2023 and January 31, 2023, 95% and 98%, respectively, of our cash and cash equivalents were concentrated in the United States, European Union (“EU”) countries, and Japan. The selection of investments in marketable securities is governed by our investment policy. The policy aims to emphasize principles of safety and liquidity, with the overall objective of earning an attractive rate of return while limiting exposure to risk of loss and avoiding inappropriate concentrations. We use this policy to guide our investment decisions as it stipulates, among other things, a list of eligible investment types, minimum ratings and other restrictions for each type, and overall portfolio composition constraints. With regard to accounts receivable, we extend differing levels of credit to customers based on creditworthiness, do not require collateral deposits, and when necessary maintain reserves for potential credit losses based upon the expected collectability of accounts receivable. We manage credit risk related to our customers by performing periodic evaluations of creditworthiness and applying other credit risk monitoring procedures. Significant customers are those that represent 10% or more of our total revenue for the period or accounts receivable at the balance sheet date. For the three and six months ended July 31, 2023 and 2022, no single customer accounted for 10% or more of our total revenue. As of July 31, 2023 and January 31, 2023, no single customer accounted for 10% or more of our accounts receivable. Stock-Based Compensation We recognize stock-based compensation expense in accordance with the provisions of Accounting Standards Codification ("ASC") 718, Compensation—Stock Compensation . ASC 718 requires the measurement and recognition of compensation expense for all stock-based awards made to employees, directors, and non-employees based on the grant date fair value of the awards. The fair value of each stock option is determined using the Black-Scholes pricing model. The fair value of each restricted stock unit ("RSU") and restricted stock award ("RSA") is determined based on the fair value of our Class A common stock on the grant date. The fair value of each performance stock unit ("PSU") that is dependent on the satisfaction of a performance condition is also determined based on the fair value of our Class A common stock on the grant date.The fair value of shares under our employee stock purchase plan ("ESPP") is determined using the Black-Scholes pricing model. Stock-based compensation expense is included in cost of revenue and operating expenses within our consolidated statements of operations based on the expense classification of the individual earning the award. The fair value of awards with only service-based vesting conditions is recognized as expense over the requisite service period on a straight-line basis. For PSUs dependent on the satisfaction of a performance condition, compensation expense is recognized only when management believes it is probable that the performance condition will be achieved. Although total compensation expense recognized for these awards will ultimately equal the grant date fair value per share multiplied by the number of shares earned by the holder, changes in management's expectations can cause fluctuations in timing of expense over the life of these awards. The fair value of ESPP shares is recognized over the relevant offering period on a straight-line basis. With all award types, we account for forfeitures as they occur. |
Revenue Recognition
Revenue Recognition | 6 Months Ended |
Jul. 31, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | Revenue Recognition Disaggregation of Revenue The following tables summarize revenue by geographical region (dollars in thousands): Three Months Ended July 31, 2023 2022 Amount Percentage of Amount Percentage of Americas (1) $ 139,718 49 % $ 120,977 50 % Europe, Middle East, and Africa 81,009 28 % 69,521 29 % Asia-Pacific (2) 66,583 23 % 51,724 21 % Total revenue $ 287,310 100 % $ 242,222 100 % (1) Revenue from the United States represented 44% and 45% of our total revenues for the three months ended July 31, 2023 and 2022, respectively. (2) Revenue from Japan represented 10% and 9% of our total revenues for the three months ended July 31, 2023 and 2022, respectively. Six Months Ended July 31, 2023 2022 Amount Percentage of Amount Percentage of Americas (1) $ 263,170 46 % $ 235,128 48 % Europe, Middle East, and Africa 177,940 31 % 139,124 29 % Asia-Pacific (2) 135,788 23 % 113,036 23 % Total revenue $ 576,898 100 % $ 487,288 100 % (1) Revenue from the United States represented 41% and 44% of our total revenues for the six months ended July 31, 2023 and 2022, respectively. (2) Revenue from Japan represented 11% and 11% of our total revenues for the six months ended July 31, 2023 and 2022, respectively. Deferred Revenue During the six months ended July 31, 2023 and 2022, we recognized $254.8 million and $201.9 million of revenue that was included in the deferred revenue balance as of January 31, 2023 and 2022, respectively . Remaining Performance Obligations Our remaining performance obligations are comprised of licenses, subscription services, and professional services and other revenue not yet delivered. As of July 31, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was $905.4 million, which consists of $487.8 million of billed consideration and $417.6 million of unbilled consideration. We expect to recognize 62% of our remaining performance obligations as revenue over the next 12 months, and the remainder thereafter. Deferred Contract Acquisition Costs Our deferred contract acquisition costs are comprised of sales commissions that represent incremental costs to obtain customer contracts, and are determined based on sales compensation plans. Amortization of deferred contract acquisition costs was $17.1 million and $11.1 million for the three months ended July 31, 2023 and 2022, respectively, and $31.2 million and $21.9 million for the six months ended July 31, 2023 and 2022, respectively, and is recorded in sal es and marketing expense in the condensed consolidated statements of operations. |
Marketable Securities
Marketable Securities | 6 Months Ended |
Jul. 31, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities | Marketable Securities The following is a summary of our marketable securities (in thousands): As of July 31, 2023 Amortized Cost Gross Gross Estimated Fair Value Commercial paper $ 61,740 $ — $ — $ 61,740 Treasury bills and U.S. government securities (1) 555,966 — (418) 555,548 Corporate bonds 10,809 — (39) 10,770 Municipal bonds 1,751 — (15) 1,736 Agency bonds 106,034 — (158) 105,876 Total marketable securities $ 736,300 $ — $ (630) $ 735,670 (1) Treasury bills with both amortized cost and estimated fair value of $39.8 million are included in cash and cash equivalents due to their original maturity of three months or less. As of January 31, 2023 Amortized Cost Gross Gross Estimated Fair Value Commercial paper $ 62,470 $ — $ — $ 62,470 Treasury bills and U.S. government securities (1) 234,848 — (308) 234,540 Corporate bonds 46,684 — (198) 46,486 Municipal bonds 6,374 — (66) 6,308 Agency bonds 7,959 — (47) 7,912 Total marketable securities $ 358,335 $ — $ (619) $ 357,716 (1) Treasury bills with both amortized cost and estimated fair value of $10.0 million are included in cash and cash equivalents due to their original maturity of three months or less. As of July 31, 2023 and January 31, 2023, none and $2.9 million, respectively, of our marketable securities had remaining contractual maturities of one year or more. As of July 31, 2023 and January 31, 2023, $3.0 million and $3.5 million, respectively, of interest receivable was included in prepaid expenses and other current assets on the condensed consolidated balance sheets. We did not recognize an allowance for credit losses against interest receivable as of July 31, 2023 and January 31, 2023. Unrealized losses during the periods presented are a result of changes in market conditions. We do not believe that any unrealized losses are attributable to credit-related factors based on our evaluation of available evidence. To determine whether a decline in value is related to credit loss, we evaluate, among other factors, the extent to which the fair value is less than the amortized cost basis and any adverse conditions specifically related to an issuer of a security or its industry. |
Fair Value Measurement
Fair Value Measurement | 6 Months Ended |
Jul. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | Fair Value Measurement The following tables present the fair value hierarchy of our financial assets measured at fair value on a recurring basis as of July 31, 2023 and January 31, 2023 (in thousands): As of July 31, 2023 Level 1 Level 2 Total Financial assets: Money market $ 528,156 $ — $ 528,156 Treasury bills 39,807 — 39,807 Commercial paper — 24,977 24,977 Total cash equivalents 567,963 24,977 592,940 Commercial paper — 61,740 61,740 Treasury bills and U.S. government securities 555,548 — 555,548 Corporate bonds — 10,770 10,770 Municipal bonds — 1,736 1,736 Agency bonds 105,876 — 105,876 Total marketable securities 661,424 74,246 735,670 Total $ 1,229,387 $ 99,223 $ 1,328,610 As of January 31, 2023 Level 1 Level 2 Total Financial assets: Money market $ 319,801 $ — $ 319,801 Treasury bills 9,968 — 9,968 Total cash equivalents 329,769 — 329,769 Commercial paper — 62,470 62,470 Treasury bills and U.S. government securities 234,540 — 234,540 Corporate bonds — 46,486 46,486 Municipal bonds — 6,308 6,308 Agency bonds 7,912 — 7,912 Total marketable securities 242,452 115,264 357,716 Total $ 572,221 $ 115,264 $ 687,485 Our money market funds, treasury bills and U.S. government securities, and agency bonds are classified within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. We classify commercial paper, corporate bonds, and municipal bonds as Level 2 because they are valued using inputs other than quoted prices which are directly or indirectly observable in the market, including readily-available pricing sources for the identical underlying security which may not be actively traded. None of our financial instruments were classified in the Level 3 category as of July 31, 2023 or January 31, 2023. |
Business Acquisition
Business Acquisition | 6 Months Ended |
Jul. 31, 2023 | |
Business Combination and Asset Acquisition [Abstract] | |
Business Acquisition | Business Acquisition Re:infer On July 29, 2022, we acquired all of the outstanding capital stock of Re:infer LTD. (“Re:infer”), a natural language processing company focused on unstructured documents and communications. Re:infer uses machine learning technology to mine context from communication messages and transform them into actionable data. With this acquisition, we gained technology and an experienced team which we believe will accelerate our technology roadmap, expand the breadth of our current AI-powered automation capabilities, and unlock new automation opportunities for our customers. The Re:infer acquisition was accounted for as a business combination. The total purchase consideration for the acquisition of Re:infer was $44.6 million, consisting of the following (in thousands): Cash paid at closing $ 30,117 Fair value of Class A common stock issued at closing (0.2 million shares) 2,965 Loan note paid on July 29, 2023 (first anniversary of closing) 5,863 Loan note to be paid on second anniversary of closing (included in accrued expenses and other current liabilities as of July 31, 2023) 5,570 Working capital adjustment 66 Total $ 44,581 At closing, we also issued an additional 0.4 million shares of Class A common stock that will be released to sellers in equal installments on the first, second, and third anniversaries of the closing date, subject to certain employment-related clawback provisions. The aggregate fair value of these shares totaled $7.6 million and will be expensed as compensation for post-acquisition services over the three years following the acquisition date. The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date (in thousands): July 29, 2022 Net tangible assets $ 300 Intangible assets 13,100 Goodwill 34,351 Total assets acquired 47,751 Deferred tax liabilities assumed (3,170) Total $ 44,581 The following table sets forth the identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition: Fair Value Estimated Useful Life Developed technology $ 10,000 5.0 Customer relationships 3,100 3.0 Total $ 13,100 The acquisition of Re:infer generated goodwill of $34.4 million representing expected synergies and acquired skilled workforce. None of this goodwill is deductible for tax purposes. |
Intangible Assets and Goodwill
Intangible Assets and Goodwill | 6 Months Ended |
Jul. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets and Goodwill | Intangible Assets and Goodwill Intangible Assets, Net Acquired intangible assets, net consisted of the following as of July 31, 2023 (dollars in thousands): Intangible Assets, Accumulated Intangible Weighted- Developed technology $ 29,194 $ (14,206) $ 14,988 3.2 Customer relationships 8,325 (4,985) 3,340 1.6 Trade names and trademarks 273 (251) 22 0.7 Other intangibles 1,231 (337) 894 7.3 Total $ 39,023 $ (19,779) $ 19,244 Acquired intangible assets, net consisted of the following as of January 31, 2023 (dollars in thousands): Intangible Assets, Accumulated Intangible Weighted- Developed technology $ 28,517 $ (11,095) $ 17,422 3.5 Customer relationships 8,174 (3,601) 4,573 2.0 Trade names and trademarks 272 (233) 39 1.2 Other intangibles 1,231 (255) 976 7.7 Total $ 38,194 $ (15,184) $ 23,010 We record amortization expense associated with acquired developed technology in cost of licenses revenue and cost of subscription services revenue, trade names and trademarks in sales and marketing expense, customer relationships in sales and marketing expense, and other intangibles in general and administrative expense in the condensed consolidated statements of operations. Amortization of acquired intangible assets for the three months ended July 31, 2023 and 2022 was $2.2 million and $1.3 million, respectively, and for the six months ended July 31, 2023 and 2022 was $4.3 million and $2.7 million, respectively. Expected future amortization expense related to intangible assets was as follows as of July 31, 2023 (in thousands): Amount Remainder of year ending January 31, 2024 $ 4,372 Year ending January 31, 2025 6,766 2026 4,144 2027 2,480 2028 1,179 Thereafter 303 Total $ 19,244 Goodwill Changes in the carrying amount of goodwill during the six months ended July 31, 2023 were as follows (in thousands): Carrying Balance as of January 31, 2023 $ 88,010 Effect of foreign currency translation 2,041 Balance as of July 31, 2023 $ 90,051 |
Operating Leases
Operating Leases | 6 Months Ended |
Jul. 31, 2023 | |
Leases [Abstract] | |
Operating Leases | Operating Leases Our operating leases consist of real estate and vehicles and have remaining lease terms of one year to 15 years. For purposes of calculating operating lease liabilities, lease terms may be deemed to include options to extend the lease when it is reasonably certain that we will exercise those options. Our operating lease arrangements do not contain any material restrictive covenants or residual value guarantees. Lease costs are presented below (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2023 2022 2023 2022 Operating lease cost $ 3,228 $ 2,736 $ 6,299 $ 5,495 Short-term lease cost 1,320 1,535 2,620 3,043 Variable lease cost 525 316 1,146 523 Sublease income (1) (533) (533) (1,065) (1,065) Total $ 4,540 $ 4,054 $ 9,000 $ 7,996 (1) Included in other income (expense), net in the condensed consolidated statements of operations. The following table represents the weighted-average remaining lease term and discount rate as of the periods presented: As of July 31, 2023 January 31, 2023 Weighted-average remaining lease term (years) 11.5 12.1 Weighted-average discount rate 7.1 % 7.0 % Future undiscounted lease payments for our operating lease liabilities as of July 31, 2023 were as follows (in thousands): Amount Remainder of year ending January 31, 2024 $ 5,393 Year ending January 31, 2025 11,354 2026 9,225 2027 8,608 2028 7,917 Thereafter 48,965 Total operating lease payments 91,462 Less: imputed interest (28,422) Total operating lease liabilities $ 63,040 As of July 31, 2023, we had non-cancellable commitments in the amount of $4.6 million related to operating leases of real estate facilities that have not yet commenced. Current operating lease liabilities of $6.3 million and $7.0 million were included in accrued expenses and other current liabilities Supplemental cash flow information related to leases for the three and six months ended July 31, 2023 and 2022 was as follows (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2023 2022 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 3,545 $ 1,493 $ 6,160 $ 3,557 Operating lease ROU assets obtained in exchange for new operating lease liabilities 2,688 2,120 4,681 2,890 |
Condensed Consolidated Balanc_3
Condensed Consolidated Balance Sheet Components | 6 Months Ended |
Jul. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Condensed Consolidated Balance Sheet Components | Condensed Consolidated Balance Sheet Components Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following (in thousands): As of July 31, January 31, Prepaid expenses and service credits $ 82,520 $ 67,794 Other current assets 24,853 26,356 Prepaid expenses and other current assets $ 107,373 $ 94,150 Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): As of July 31, January 31, Computers and equipment $ 29,003 $ 28,450 Leasehold improvements 21,843 19,622 Furniture and fixtures 6,604 6,485 Construction in progress 447 2,419 Property and equipment, gross 57,897 56,976 Less: accumulated depreciation (33,218) (27,931) Property and equipment, net $ 24,679 $ 29,045 Depreciation expense for the three months ended July 31, 2023 and 2022 was $2.8 million and $1.9 million, respectively. Depreciation expense for the six months ended July 31, 2023 and 2022 was $5.8 million and $3.8 million, respectively. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): As of July 31, 2023 January 31, 2023 Accrued expenses $ 12,188 $ 19,411 Withholding tax from employee equity transactions 2,408 3,772 Employee stock purchase plan withholdings 3,688 3,365 Payroll taxes and other benefits payable 3,879 7,644 Income tax payable 10,220 8,750 Value-added taxes payable 2,567 6,381 Operating lease liabilities, current 6,341 6,997 Deferred consideration for business acquisition, current 5,570 5,863 Other 17,543 14,462 Accrued expenses and other current liabilities $ 64,404 $ 76,645 |
Credit Facility
Credit Facility | 6 Months Ended |
Jul. 31, 2023 | |
Debt Disclosure [Abstract] | |
Credit Facility | Credit Facility On October 30, 2020 and as amended, we entered into a $200.0 million senior secured revolving credit facility with a maturity date of October 30, 2023 (the “Credit Facility”) with HSBC Ventures USA Inc., Silicon Valley Bank, a division of First Citizens Bank & Trust Company (successor by purchase to the FDIC as receiver for Silicon Valley Bridge Bank, N.A. (as successor to Silicon Valley Bank)), Sumitomo Mitsui Banking Corporation, and Mizuho Bank, LTD (together, the "Lenders"). The Credit Facility contains certain customary covenants, including, but not limited to, those relating to additional indebtedness, liens, asset divestitures, and affiliate transactions. As of July 31, 2023 and January 31, 2023, there were no amounts outstanding under the Credit Facility. In September 2023, we and the Lenders terminated the Credit Facility prior to its original maturity date. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jul. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Letters of Credit We had a total of $3.6 million and $4.3 million in letters of credit outstanding in favor of certain landlords for office space and for credit line facilities as of July 31, 2023 and January 31, 2023, respectively. These letters of credit renew annually and expire on various dates through fiscal year 2025. Indemnification In the ordinary course of business, we may provide indemnification of varying scope and terms to customers, vendors, directors, and officers with respect to certain matters, including, but not limited to, losses arising out of our breach of such agreements, services to be provided by us, or from intellectual property infringement claims made by third parties. These indemnification provisions may survive termination of the underlying agreement and the potential amount of future payments we could be required to make under these indemnification provisions may not be subject to maximum loss clauses. The maximum potential amount of future payments we could be required to make under these indemnification provisions is indeterminable. As of July 31, 2023 and January 31, 2023, we have not accrued a liability for these indemnification arrangements because the likelihood of incurring a payment obligation, if any, in connection with these indemnification arrangements was remote. Restructuring On June 24, 2022, our board of directors approved restructuring actions to manage our operating expenses by reducing our global workforce by approximately 5%. The workforce reduction aimed to simplify our go-to-market approach and improve sales productivity. In connection with these workforce reductions, we also ceased use of our office in Brooklyn, NY. On November 10, 2022, our board of directors approved further restructuring actions to reduce our global workforce across functions by an additional 6%. For the six months ended July 31, 2023, we incurred $2.6 million of expense associated with employee termination benefits in connection with the completion of our restructuring actions. The following table shows the total amount incurred, and the liability, which is recorded in accrued compensation and employee benefits in the condensed consolidated balance sheets, for restructuring-related employee termination benefits as of July 31, 2023 (in thousands): Employee Termination Benefits Accrued restructuring costs as of January 31, 2023 $ 3,889 Restructuring costs incurred during the six months ended July 31, 2023 2,606 Amount paid during the six months ended July 31, 2023 (4,792) Accrued restructuring costs as of July 31, 2023 $ 1,703 Defined Contribution Plans We sponsor retirement plans for qualifying employees, including a 401(k) plan in the U.S. and defined contribution plans in certain other countries, to which we make matching contributions. Our total matching contributions to all defined contribution plans was $3.5 million and $3.7 million for the three months ended July 31, 2023 and 2022, respectively, and $9.1 million and $8.7 million for the six months ended July 31, 2023 and 2022, respectively. Litigation From time to time, we may be involved in lawsuits, claims, investigations, and proceedings, consisting of intellectual property, commercial, employment, and other matters, which arise in the ordinary course of business. In accordance with ASC 450, Contingencies , we make a provision for a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. We are not presently a party to any litigation the outcome of which we believe, if determined adversely to us, would individually or taken together have a material adverse effect on our business, operating results, cash flows, or financial condition. We have determined that the existence of a material loss is neither probable nor reasonably possible. Warranty We warrant to customers that our platform will operate substantially in accordance with its specifications. Historically, no significant costs have been incurred related to product warranties. Based on such historical experience, the probability of incurring such costs in the future is deemed remote. As such, no accruals for product warranty costs have been made. Non-Cancelable Purchase Obligations In the normal course of business, we enter into non-cancelable purchase commitments with various parties, mainly for hosting services, software products and services, and credits toward purchase of products and services from strategic alliance partners. As of July 31, 2023, we had outstanding non-cancelable purchase obligations with a term of 12 months or longer as follows (in thousands): Amount Remainder of year ending January 31, 2024 $ 33,578 Year ending January 31, 2025 99,928 2026 56,633 2027 20,332 2028 8,245 Thereafter — Total $ 218,716 |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jul. 31, 2023 | |
Equity [Abstract] | |
Stockholders' Equity | Stockholders’ Equity Charitable Donations of Class A Common Stock We have reserved 2.8 million shares of our Class A common stock to fund our social impact and environmental, social, and governance initiatives. During the six months ended July 31, 2023, we contributed 0.3 million shares of our Class A common stock to a donor-advised fund in connection with our Pledge 1% commitment. The aggregate fair value of the shares on the contribution date of $4.2 million was recorded within general and administrative expense in the condensed consolidated statements of operations. Accumulated Other Comprehensive Income (Loss) For the six months ended July 31, 2023 and 2022, changes in the components of accumulated other comprehensive income (loss) were as follows (in thousands): Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Marketable Securities Accumulated Other Comprehensive Income Balance as of January 31, 2023 $ 8,231 $ (619) $ 7,612 Other comprehensive income (loss), net of tax 3,912 (18) 3,894 Balance as of July 31, 2023 $ 12,143 $ (637) $ 11,506 Foreign Currency Translation Adjustments Unrealized Loss on Marketable Securities Accumulated Other Comprehensive Income (Loss) Balance as of January 31, 2022 $ 11,234 $ (335) $ 10,899 Other comprehensive income (loss), net of tax 552 (301) 251 Balance as of July 31, 2022 $ 11,786 $ (636) $ 11,150 |
Equity Incentive Plans and Stoc
Equity Incentive Plans and Stock-Based Compensation | 6 Months Ended |
Jul. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Equity Incentive Plans and Stock-Based Compensation | Equity Incentive Plans and Stock-Based Compensation 2021 Stock Plan In April 2021, prior to and in connection with the IPO, we adopted our 2021 Equity Incentive Plan (the "2021 Plan"), which provides for grants of incentive stock options, nonstatutory stock options, stock appreciation rights, RSAs, RSUs, PSUs, and other forms of awards. As of July 31, 2023, we have reserved 173.7 million shares of our Class A common stock to be issued under the 2021 Plan. The number of shares of our Class A common stock reserved for issuance under the 2021 Plan will automatically increase on February 1 of each year for a period of ten years, which began on February 1, 2022 and continues through February 1, 2031, in an amount equal to (1) 5% of the total number of shares of our common stock (both Class A and Class B) outstanding on the preceding January 31, or (2) a lesser number of shares determined by our board of directors no later than the February 1 increase. 2021 Employee Stock Purchase Plan In April 2021, prior to and in connection with the IPO, we adopted our 2021 Employee Stock Purchase Plan (the “ESPP”). As of July 31, 2023, the ESPP authorizes the issuance of 21.5 million shares of our Class A common stock under purchase rights granted to our employees or to employees of any of our designated affiliates. The number of shares of our Class A common stock reserved for issuance will automatically increase on February 1 of each year for a period of ten years, which began on February 1, 2022 and continues through February 1, 2031, by the lesser of (1) 1% of the total number of shares of our common stock (both Class A and Class B) outstanding on the preceding January 31; and (2) 15.5 million shares, except before the date of any such increase, our board of directors may determine that such increase will be less than the amount set forth by (1) and (2) above. The ESPP allows participants to purchase shares at the lesser of (a) 85% of the fair market value of our Class A common stock as of the commencement of each offering period, and (b) 85% of the fair market value of our Class A common stock on the corresponding purchase date. Stock Options Stock option activity during the six months ended July 31, 2023 was as follows: Stock Weighted- Weighted-Average Aggregate Outstanding as of January 31, 2023 13,898 $ 3.32 7.7 $ 169,324 Granted 2,614 $ 0.10 Exercised (2,722) $ 1.43 Forfeited (205) $ 0.82 Outstanding as of July 31, 2023 13,585 $ 3.11 7.7 $ 203,300 Vested and exercisable as of July 31, 2023 5,763 $ 3.61 6.0 $ 83,392 The weighted-average grant date fair value of stock options granted during the six months ended July 31, 2023 was $16.62 per share. The intrinsic value of stock options exercised during the six months ended July 31, 2023 was $42.2 million. Unrecognized compensation expense associated with unvested stock options granted and outstanding as of July 31, 2023, was $129.8 million, which is to be recognized over a weighted-average remaining period of 2.5 years. Restricted Stock Units RSU activity during the six months ended July 31, 2023 was as follows: RSUs (in thousands) Weighted-Average Grant Unvested as of January 31, 2023 36,785 $ 22.48 Granted 15,620 $ 16.60 Vested (9,133) $ 20.89 Forfeited (5,013) $ 23.71 Unvested as of July 31, 2023 38,259 $ 20.30 The vesting date fair value of RSUs that vested during the six months ended July 31, 2023 was $157.0 million. As of July 31, 2023, total unrecognized compensation expense related to unvested RSUs was approximately $693.1 million, which is to be recognized over a weighted-average remaining period of 2.6 years. Restricted Stock Awards In September 2020, we issued approximately 0.1 million RSAs to a member of our board of directors at a grant date fair value of $33.22 per share, totaling $4.0 million. Such RSAs vest monthly over four years from the grant date. The unvested shares are subject to a repurchase right held by us. As of July 31, 2023, total unrecognized compensation expense related to unvested RSAs was $1.1 million and will be recognized over the remaining vesting period of 1.1 years. Performance Stock Units On July 31, 2023, we granted approximately 0.1 million PSUs at a grant date fair value of $18.08 per share. The PSUs are subject to performance conditions related to the achievement of certain individual and Company targets for fiscal year 2024, and the number of shares earned will ultimately be 0%, 100%, or 200% of the base number of PSUs awarded. To the extent that they are earned, these PSUs will vest on April 1, 2024. Employee Stock Purchase Plan Awards During the six months ended July 31, 2023, 0.8 million shares were purchased under the ESPP at $11.19 per share. As of July 31, 2023, total unrecognized compensation expense related to the ESPP was approximately $2.5 million, which is to be recognized over a weighted-average remaining period of 0.4 years. Stock-Based Compensation Associated with Business Acquisition At the closing of the acquisition of Re:infer on July 29, 2022, we issued 0.4 million shares of Class A common stock (outside of the 2021 Plan) to be released to certain employee sellers in equal installments on the first, second, and third anniversaries of the closing date, subject to employment-related clawback provisions. As of July 31, 2023, total unrecognized compensation expense related to these shares was $5.1 million, which is to be recognized over a weighted-average remaining period of 2.0 years. Stock-Based Compensation Expense Stock-based compensation expense is classified in the condensed consolidated statements of operations as follows (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2023 2022 2023 2022 Cost of subscription services revenue $ 3,809 $ 2,841 $ 6,987 $ 6,057 Cost of professional services and other revenue 3,083 2,528 5,782 6,402 Sales and marketing 39,007 35,889 72,130 86,647 Research and development 33,071 23,501 57,844 50,124 General and administrative 23,127 23,493 44,402 40,476 Total $ 102,097 $ 88,252 $ 187,145 $ 189,706 |
Income Taxes
Income Taxes | 6 Months Ended |
Jul. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Our tax provision for interim periods is determined using an estimated annual effective tax rate, adjusted for discrete items arising in the applicable quarter. In each quarter, we update the estimated annual effective tax rate and make a year-to-date adjustment to the provision. The estimated annual effective tax rate is subject to significant volatility due to several factors, including our ability to accurately predict the proportion of our pretax income in multiple jurisdictions and certain book-tax differences. We had a provision for income taxes of $3.8 million and $4.1 million for the three months ended July 31, 2023 and 2022, respectively. Our effective tax rate was (6.8%) and (3.5%) for the three months ended July 31, 2023 and 2022, respectively. For the three months ended July 31, 2023 and 2022, our effective tax rate differed from the U.S. federal statutory rate primarily as a result of not recognizing deferred tax assets ("DTAs") for losses due to a full valuation allowance (as discussed below) and due to tax rate differences between the United States and foreign countries. We had a provision for income taxes of $7.5 million and $8.9 million for the six months ended July 31, 2023 and 2022, respectively. Our effective tax rate was (8.8%) and (3.8%) for the six months ended July 31, 2023 and 2022, respectively. For the six months ended July 31, 2023 and 2022, our effective tax rate differed from the U.S. federal statutory rate primarily as a result of not recognizing DTAs for losses due to a full valuation allowance (as discussed below) and due to tax rate differences between the United States and foreign countries. The realization of tax benefits of net DTAs is dependent upon future levels of taxable income of an appropriate character in the periods the items are expected to be deductible or taxable. Based on the available objective evidence during the six months ended July 31, 2023, we believe it is more likely than not that the tax benefits of DTAs associated with the U.S., Romania, and the U.K. may not be realized. Accordingly, we recorded a full valuation allowance against the U.S., Romania, and the U.K. DTAs. We intend to maintain each of these full valuation allowances until sufficient positive evidence exists to support a reversal of, or decrease in, the valuation allowance. As of July 31, 2023, there is no valuation allowance recorded against DTAs associated with Japan as we believe it is more likely than not that we will realize such assets during the prescribed statutory period. As of July 31, 2023, we had gross unrecognized tax benefits totaling $2.3 million related to income taxes, which would impact the effective tax rate if recognized. Of this amount, the total liability pertaining to uncertain tax positions was $1.5 million, excluding interest and penalties, which are accounted for as a component of our income tax provision. The tax positions of UiPath, Inc. and its subsidiaries are subject to income tax audits in multiple tax jurisdictions globally, with currently open audits in Romania and India, and we believe that we have provided adequate reserves for our income tax uncertainties in all open tax years. At this time, we do not expect any significant changes in the next fiscal quarter based on the current positions undertaken by us. |
Net Loss Per Share Attributable
Net Loss Per Share Attributable to Common Stockholders | 6 Months Ended |
Jul. 31, 2023 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share Attributable to Common Stockholders | Net Loss Per Share Attributable to Common Stockholders The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods presented (in thousands except per share amounts): Three Months Ended July 31, 2023 2022 Class A Class B Class A Class B Numerator: Net loss $ (51,519) $ (8,842) $ (102,201) $ (18,177) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 480,430 82,453 463,605 82,453 Net loss per share attributable to common stockholders, basic and diluted $ (0.11) $ (0.11) $ (0.22) $ (0.22) Six Months Ended July 31, 2023 2022 Class A Class B Class A Class B Numerator: Net loss $ (78,688) $ (13,574) $ (206,118) $ (36,821) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 477,969 82,453 461,561 82,453 Net loss per share attributable to common stockholders, basic and diluted $ (0.16) $ (0.16) $ (0.45) $ (0.45) Anti-dilutive common stock equivalents excluded from the computation of diluted net loss per share attributable to common stockholders were as follows (in thousands): Three Months Ended July 31, 2023 2022 Class A Class B Class A Class B Unvested RSUs 40,122 — 29,562 — Outstanding stock options 14,206 — 14,138 — Shares subject to repurchase from RSAs and early exercised stock options 53 — 116 — Shares issuable under ESPP 680 — 588 — Returnable shares issued in connection with business acquisition 422 — 14 — Total 55,483 — 44,418 — Six Months Ended July 31, 2023 2022 Class A Class B Class A Class B Unvested RSUs 38,760 — 28,435 — Outstanding stock options 14,047 — 13,965 — Shares subject to repurchase from RSAs and early exercised stock options 58 — 483 — Shares issuable under ESPP 787 — 808 — Returnable shares issued in connection with business acquisition 425 — 7 — Total weighted-average anti-dilutive common stock equivalents 54,077 — 43,698 — |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jul. 31, 2023 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions Beginning in the third quarter of fiscal year 2022, we have at times made use of an aircraft which is owned by Daniel Dines, our Co-Chief Executive Officer, through a special purpose limited liability company and which is operated by a third-party aircraft management company. Mr. Dines, through the special purpose limited liability company, obtained financing for the aircraft and bears all associated operating, personnel, and maintenance costs. We did not incur any expense related to use of the aircraft for the three and six months ended July 31, 2023. For the three and six months ended July 31, 2022, we incurred expenses of $1.1 million and $1.9 million, respectively in connection with our business use of the aircraft. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jul. 31, 2023 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent EventsOn September 1, 2023, our board of directors authorized a stock repurchase program, pursuant to which we may repurchase from time to time up to $500.0 million of our outstanding shares of Class A common stock. Repurchases under the program may be effected through open market purchases, privately-negotiated transactions, or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Exchange Act. The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternate uses of capital. This authorization expires on March 1, 2025, subject to modification by the board of directors in the future. |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jul. 31, 2023 | Apr. 30, 2023 | Jul. 31, 2022 | Apr. 30, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Pay vs Performance Disclosure | ||||||
Net loss | $ (60,361) | $ (31,901) | $ (120,378) | $ (122,561) | $ (92,262) | $ (242,939) |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Jul. 31, 2023 shares | |
Trading Arrangements, by Individual | |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Richard P.Wong [Member] | |
Trading Arrangements, by Individual | |
Name | Richard P. Wong |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | June 23, 2023 |
Arrangement Duration | 98 days |
Aggregate Available | 400,000 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jul. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and applicable regulations of the SEC regarding interim financial reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP may be condensed or omitted. The accompanying unaudited condensed consolidated financial statements and related financial information should be read in conjunction with the audited consolidated financial statements and the accompanying notes thereto for the fiscal year ended January 31, 2023, which are included in the 2023 Form 10-K. The unaudited condensed consolidated financial statements have been prepared on the same basis as our audited consolidated financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, that are necessary for the fair presentation of our financial information. The unaudited condensed consolidated financial statements include the financial statements of UiPath, Inc. and its subsidiaries in which we hold a controlling financial interest. Intercompany transactions and accounts have been eliminated in consolidation. The results of operations for the six months ended July 31, 2023 are not necessarily indicative of the results to be expected for the fiscal year ending January 31, 2024 or for any other future interim or annual period. |
Fiscal Year | Fiscal Year Our fiscal year ends on January 31. References to fiscal year 2024, for example, refer to the fiscal year ending January 31, 2024. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities at the balance sheet date and the amounts of revenue and expenses reported during the period. We evaluate estimates based on historical and anticipated results, trends, and various other assumptions. Such estimates include, but are not limited to, certain aspects of revenue recognition including changes in variable consideration, expected period of benefit for deferred contract acquisition costs, allowance for credit losses, fair value of financial assets and liabilities, fair value of acquired assets and assumed liabilities, useful lives of long-lived assets, capitalized software development costs, carrying value of operating lease right-of-use (“ROU”) assets and operating lease liabilities, incremental borrowing rates for operating leases, amount of stock-based compensation expense, timing and amount of contingencies, costs related to our restructuring actions, uncertain tax positions, and valuation allowance for deferred income taxes. Actual results could differ from these estimates and assumptions. |
Foreign Currency | Foreign CurrencyThe functional currency of our non-U.S. subsidiaries is the local currency. Asset and liability balances denominated in non-U.S. dollar currencies are translated into U.S. dollars using period-end exchange rates, while revenue and expenses are translated using average monthly exchange rates. Differences are included in stockholders’ equity as a component of accumulated other comprehensive income. Financial assets and liabilities denominated in currencies other than the functional currency are recorded at the exchange rate at the time of the transaction and subsequent gains and losses related to changes in the foreign currency are included in other income (expense), net in the condensed consolidated statements of operations. |
Concentration of Risks | Concentration of Risks Financial instruments that potentially subject us to significant concentrations of credit risk consist principally of cash and cash equivalents, marketable securities, and accounts receivable. We maintain our cash balance at financial institutions that management believes are high-credit, quality financial institutions, where our deposits, at times, exceed Federal Deposit Insurance Corporation (“FDIC”) limits. As of July 31, 2023 and January 31, 2023, 95% and 98%, respectively, of our cash and cash equivalents were concentrated in the United States, European Union (“EU”) countries, and Japan. The selection of investments in marketable securities is governed by our investment policy. The policy aims to emphasize principles of safety and liquidity, with the overall objective of earning an attractive rate of return while limiting exposure to risk of loss and avoiding inappropriate concentrations. We use this policy to guide our investment decisions as it stipulates, among other things, a list of eligible investment types, minimum ratings and other restrictions for each type, and overall portfolio composition constraints. |
Stock-Based Compensation | Stock-Based Compensation We recognize stock-based compensation expense in accordance with the provisions of Accounting Standards Codification ("ASC") 718, Compensation—Stock Compensation . ASC 718 requires the measurement and recognition of compensation expense for all stock-based awards made to employees, directors, and non-employees based on the grant date fair value of the awards. The fair value of each stock option is determined using the Black-Scholes pricing model. The fair value of each restricted stock unit ("RSU") and restricted stock award ("RSA") is determined based on the fair value of our Class A common stock on the grant date. The fair value of each performance stock unit ("PSU") that is dependent on the satisfaction of a performance condition is also determined based on the fair value of our Class A common stock on the grant date.The fair value of shares under our employee stock purchase plan ("ESPP") is determined using the Black-Scholes pricing model. Stock-based compensation expense is included in cost of revenue and operating expenses within our consolidated statements of operations based on the expense classification of the individual earning the award. The fair value of awards with only service-based vesting conditions is recognized as expense over the requisite service period on a straight-line basis. For PSUs dependent on the satisfaction of a performance condition, compensation expense is recognized only when management believes it is probable that the performance condition will be achieved. Although total compensation expense recognized for these awards will ultimately equal the grant date fair value per share multiplied by the number of shares earned by the holder, changes in management's expectations can cause fluctuations in timing of expense over the life of these awards. The fair value of ESPP shares is recognized over the relevant offering period on a straight-line basis. With all award types, we account for forfeitures as they occur. |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Disaggregation of Revenue by Geographical Region | The following tables summarize revenue by geographical region (dollars in thousands): Three Months Ended July 31, 2023 2022 Amount Percentage of Amount Percentage of Americas (1) $ 139,718 49 % $ 120,977 50 % Europe, Middle East, and Africa 81,009 28 % 69,521 29 % Asia-Pacific (2) 66,583 23 % 51,724 21 % Total revenue $ 287,310 100 % $ 242,222 100 % (1) Revenue from the United States represented 44% and 45% of our total revenues for the three months ended July 31, 2023 and 2022, respectively. (2) Revenue from Japan represented 10% and 9% of our total revenues for the three months ended July 31, 2023 and 2022, respectively. Six Months Ended July 31, 2023 2022 Amount Percentage of Amount Percentage of Americas (1) $ 263,170 46 % $ 235,128 48 % Europe, Middle East, and Africa 177,940 31 % 139,124 29 % Asia-Pacific (2) 135,788 23 % 113,036 23 % Total revenue $ 576,898 100 % $ 487,288 100 % (1) Revenue from the United States represented 41% and 44% of our total revenues for the six months ended July 31, 2023 and 2022, respectively. (2) Revenue from Japan represented 11% and 11% of our total revenues for the six months ended July 31, 2023 and 2022, respectively. |
Marketable Securities (Tables)
Marketable Securities (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Marketable Securities | The following is a summary of our marketable securities (in thousands): As of July 31, 2023 Amortized Cost Gross Gross Estimated Fair Value Commercial paper $ 61,740 $ — $ — $ 61,740 Treasury bills and U.S. government securities (1) 555,966 — (418) 555,548 Corporate bonds 10,809 — (39) 10,770 Municipal bonds 1,751 — (15) 1,736 Agency bonds 106,034 — (158) 105,876 Total marketable securities $ 736,300 $ — $ (630) $ 735,670 (1) Treasury bills with both amortized cost and estimated fair value of $39.8 million are included in cash and cash equivalents due to their original maturity of three months or less. As of January 31, 2023 Amortized Cost Gross Gross Estimated Fair Value Commercial paper $ 62,470 $ — $ — $ 62,470 Treasury bills and U.S. government securities (1) 234,848 — (308) 234,540 Corporate bonds 46,684 — (198) 46,486 Municipal bonds 6,374 — (66) 6,308 Agency bonds 7,959 — (47) 7,912 Total marketable securities $ 358,335 $ — $ (619) $ 357,716 (1) Treasury bills with both amortized cost and estimated fair value of $10.0 million are included in cash and cash equivalents due to their original maturity of three months or less. |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis | The following tables present the fair value hierarchy of our financial assets measured at fair value on a recurring basis as of July 31, 2023 and January 31, 2023 (in thousands): As of July 31, 2023 Level 1 Level 2 Total Financial assets: Money market $ 528,156 $ — $ 528,156 Treasury bills 39,807 — 39,807 Commercial paper — 24,977 24,977 Total cash equivalents 567,963 24,977 592,940 Commercial paper — 61,740 61,740 Treasury bills and U.S. government securities 555,548 — 555,548 Corporate bonds — 10,770 10,770 Municipal bonds — 1,736 1,736 Agency bonds 105,876 — 105,876 Total marketable securities 661,424 74,246 735,670 Total $ 1,229,387 $ 99,223 $ 1,328,610 As of January 31, 2023 Level 1 Level 2 Total Financial assets: Money market $ 319,801 $ — $ 319,801 Treasury bills 9,968 — 9,968 Total cash equivalents 329,769 — 329,769 Commercial paper — 62,470 62,470 Treasury bills and U.S. government securities 234,540 — 234,540 Corporate bonds — 46,486 46,486 Municipal bonds — 6,308 6,308 Agency bonds 7,912 — 7,912 Total marketable securities 242,452 115,264 357,716 Total $ 572,221 $ 115,264 $ 687,485 |
Business Acquisition (Tables)
Business Acquisition (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Business Combination and Asset Acquisition [Abstract] | |
Schedule of Total Purchase Consideration | The total purchase consideration for the acquisition of Re:infer was $44.6 million, consisting of the following (in thousands): Cash paid at closing $ 30,117 Fair value of Class A common stock issued at closing (0.2 million shares) 2,965 Loan note paid on July 29, 2023 (first anniversary of closing) 5,863 Loan note to be paid on second anniversary of closing (included in accrued expenses and other current liabilities as of July 31, 2023) 5,570 Working capital adjustment 66 Total $ 44,581 |
Schedule of Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date (in thousands): July 29, 2022 Net tangible assets $ 300 Intangible assets 13,100 Goodwill 34,351 Total assets acquired 47,751 Deferred tax liabilities assumed (3,170) Total $ 44,581 |
Schedule of Identifiable Intangible Assets Acquired and Their Estimated Useful Lives | The following table sets forth the identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition: Fair Value Estimated Useful Life Developed technology $ 10,000 5.0 Customer relationships 3,100 3.0 Total $ 13,100 |
Intangible Assets and Goodwill
Intangible Assets and Goodwill (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets, Net | Acquired intangible assets, net consisted of the following as of July 31, 2023 (dollars in thousands): Intangible Assets, Accumulated Intangible Weighted- Developed technology $ 29,194 $ (14,206) $ 14,988 3.2 Customer relationships 8,325 (4,985) 3,340 1.6 Trade names and trademarks 273 (251) 22 0.7 Other intangibles 1,231 (337) 894 7.3 Total $ 39,023 $ (19,779) $ 19,244 Acquired intangible assets, net consisted of the following as of January 31, 2023 (dollars in thousands): Intangible Assets, Accumulated Intangible Weighted- Developed technology $ 28,517 $ (11,095) $ 17,422 3.5 Customer relationships 8,174 (3,601) 4,573 2.0 Trade names and trademarks 272 (233) 39 1.2 Other intangibles 1,231 (255) 976 7.7 Total $ 38,194 $ (15,184) $ 23,010 |
Schedule of Expected Future Amortization Expenses Related to Intangible Assets | Expected future amortization expense related to intangible assets was as follows as of July 31, 2023 (in thousands): Amount Remainder of year ending January 31, 2024 $ 4,372 Year ending January 31, 2025 6,766 2026 4,144 2027 2,480 2028 1,179 Thereafter 303 Total $ 19,244 |
Schedule of Changes in Carrying Amounts of Goodwill | Changes in the carrying amount of goodwill during the six months ended July 31, 2023 were as follows (in thousands): Carrying Balance as of January 31, 2023 $ 88,010 Effect of foreign currency translation 2,041 Balance as of July 31, 2023 $ 90,051 |
Operating Leases (Tables)
Operating Leases (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Leases [Abstract] | |
Schedule of Lease Costs and Supplemental Cash Flow Information | Lease costs are presented below (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2023 2022 2023 2022 Operating lease cost $ 3,228 $ 2,736 $ 6,299 $ 5,495 Short-term lease cost 1,320 1,535 2,620 3,043 Variable lease cost 525 316 1,146 523 Sublease income (1) (533) (533) (1,065) (1,065) Total $ 4,540 $ 4,054 $ 9,000 $ 7,996 (1) Included in other income (expense), net in the condensed consolidated statements of operations. Supplemental cash flow information related to leases for the three and six months ended July 31, 2023 and 2022 was as follows (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2023 2022 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 3,545 $ 1,493 $ 6,160 $ 3,557 Operating lease ROU assets obtained in exchange for new operating lease liabilities 2,688 2,120 4,681 2,890 |
Schedule of Weighted-average Lease Term and Discount Rate | The following table represents the weighted-average remaining lease term and discount rate as of the periods presented: As of July 31, 2023 January 31, 2023 Weighted-average remaining lease term (years) 11.5 12.1 Weighted-average discount rate 7.1 % 7.0 % |
Schedule of Future Undiscounted Lease Payments for Operating Lease Liabilities | Future undiscounted lease payments for our operating lease liabilities as of July 31, 2023 were as follows (in thousands): Amount Remainder of year ending January 31, 2024 $ 5,393 Year ending January 31, 2025 11,354 2026 9,225 2027 8,608 2028 7,917 Thereafter 48,965 Total operating lease payments 91,462 Less: imputed interest (28,422) Total operating lease liabilities $ 63,040 |
Condensed Consolidated Balanc_4
Condensed Consolidated Balance Sheet Components (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Prepaid Expenses and Other Current Assets | Prepaid expenses and other current assets consisted of the following (in thousands): As of July 31, January 31, Prepaid expenses and service credits $ 82,520 $ 67,794 Other current assets 24,853 26,356 Prepaid expenses and other current assets $ 107,373 $ 94,150 |
Schedule of Property and Equipment, Net | Property and equipment, net consisted of the following (in thousands): As of July 31, January 31, Computers and equipment $ 29,003 $ 28,450 Leasehold improvements 21,843 19,622 Furniture and fixtures 6,604 6,485 Construction in progress 447 2,419 Property and equipment, gross 57,897 56,976 Less: accumulated depreciation (33,218) (27,931) Property and equipment, net $ 24,679 $ 29,045 |
Schedule of Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities consisted of the following (in thousands): As of July 31, 2023 January 31, 2023 Accrued expenses $ 12,188 $ 19,411 Withholding tax from employee equity transactions 2,408 3,772 Employee stock purchase plan withholdings 3,688 3,365 Payroll taxes and other benefits payable 3,879 7,644 Income tax payable 10,220 8,750 Value-added taxes payable 2,567 6,381 Operating lease liabilities, current 6,341 6,997 Deferred consideration for business acquisition, current 5,570 5,863 Other 17,543 14,462 Accrued expenses and other current liabilities $ 64,404 $ 76,645 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Accrued Restructuring Costs | The following table shows the total amount incurred, and the liability, which is recorded in accrued compensation and employee benefits in the condensed consolidated balance sheets, for restructuring-related employee termination benefits as of July 31, 2023 (in thousands): Employee Termination Benefits Accrued restructuring costs as of January 31, 2023 $ 3,889 Restructuring costs incurred during the six months ended July 31, 2023 2,606 Amount paid during the six months ended July 31, 2023 (4,792) Accrued restructuring costs as of July 31, 2023 $ 1,703 |
Schedule of Non-Cancelable Purchase Obligations | As of July 31, 2023, we had outstanding non-cancelable purchase obligations with a term of 12 months or longer as follows (in thousands): Amount Remainder of year ending January 31, 2024 $ 33,578 Year ending January 31, 2025 99,928 2026 56,633 2027 20,332 2028 8,245 Thereafter — Total $ 218,716 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Equity [Abstract] | |
Schedule of Changes In Components of Accumulated Other Comprehensive Income (Loss) | For the six months ended July 31, 2023 and 2022, changes in the components of accumulated other comprehensive income (loss) were as follows (in thousands): Foreign Currency Translation Adjustments Unrealized Gain (Loss) on Marketable Securities Accumulated Other Comprehensive Income Balance as of January 31, 2023 $ 8,231 $ (619) $ 7,612 Other comprehensive income (loss), net of tax 3,912 (18) 3,894 Balance as of July 31, 2023 $ 12,143 $ (637) $ 11,506 Foreign Currency Translation Adjustments Unrealized Loss on Marketable Securities Accumulated Other Comprehensive Income (Loss) Balance as of January 31, 2022 $ 11,234 $ (335) $ 10,899 Other comprehensive income (loss), net of tax 552 (301) 251 Balance as of July 31, 2022 $ 11,786 $ (636) $ 11,150 |
Equity Incentive Plans and St_2
Equity Incentive Plans and Stock-Based Compensation (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Summary of Stock Option Activity | Stock option activity during the six months ended July 31, 2023 was as follows: Stock Weighted- Weighted-Average Aggregate Outstanding as of January 31, 2023 13,898 $ 3.32 7.7 $ 169,324 Granted 2,614 $ 0.10 Exercised (2,722) $ 1.43 Forfeited (205) $ 0.82 Outstanding as of July 31, 2023 13,585 $ 3.11 7.7 $ 203,300 Vested and exercisable as of July 31, 2023 5,763 $ 3.61 6.0 $ 83,392 |
Summary of RSU Activity | RSU activity during the six months ended July 31, 2023 was as follows: RSUs (in thousands) Weighted-Average Grant Unvested as of January 31, 2023 36,785 $ 22.48 Granted 15,620 $ 16.60 Vested (9,133) $ 20.89 Forfeited (5,013) $ 23.71 Unvested as of July 31, 2023 38,259 $ 20.30 |
Schedule of Stock-Based Compensation Expense | Stock-based compensation expense is classified in the condensed consolidated statements of operations as follows (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2023 2022 2023 2022 Cost of subscription services revenue $ 3,809 $ 2,841 $ 6,987 $ 6,057 Cost of professional services and other revenue 3,083 2,528 5,782 6,402 Sales and marketing 39,007 35,889 72,130 86,647 Research and development 33,071 23,501 57,844 50,124 General and administrative 23,127 23,493 44,402 40,476 Total $ 102,097 $ 88,252 $ 187,145 $ 189,706 |
Net Loss Per Share Attributab_2
Net Loss Per Share Attributable to Common Stockholders (Tables) | 6 Months Ended |
Jul. 31, 2023 | |
Earnings Per Share [Abstract] | |
Schedule of Computation of Basic and Diluted Net Loss Per Share | The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods presented (in thousands except per share amounts): Three Months Ended July 31, 2023 2022 Class A Class B Class A Class B Numerator: Net loss $ (51,519) $ (8,842) $ (102,201) $ (18,177) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 480,430 82,453 463,605 82,453 Net loss per share attributable to common stockholders, basic and diluted $ (0.11) $ (0.11) $ (0.22) $ (0.22) Six Months Ended July 31, 2023 2022 Class A Class B Class A Class B Numerator: Net loss $ (78,688) $ (13,574) $ (206,118) $ (36,821) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 477,969 82,453 461,561 82,453 Net loss per share attributable to common stockholders, basic and diluted $ (0.16) $ (0.16) $ (0.45) $ (0.45) |
Schedule of Anti-Dilutive Common Stock Equivalents Excluded from Computation of Diluted Net Loss Per Share | Anti-dilutive common stock equivalents excluded from the computation of diluted net loss per share attributable to common stockholders were as follows (in thousands): Three Months Ended July 31, 2023 2022 Class A Class B Class A Class B Unvested RSUs 40,122 — 29,562 — Outstanding stock options 14,206 — 14,138 — Shares subject to repurchase from RSAs and early exercised stock options 53 — 116 — Shares issuable under ESPP 680 — 588 — Returnable shares issued in connection with business acquisition 422 — 14 — Total 55,483 — 44,418 — Six Months Ended July 31, 2023 2022 Class A Class B Class A Class B Unvested RSUs 38,760 — 28,435 — Outstanding stock options 14,047 — 13,965 — Shares subject to repurchase from RSAs and early exercised stock options 58 — 483 — Shares issuable under ESPP 787 — 808 — Returnable shares issued in connection with business acquisition 425 — 7 — Total weighted-average anti-dilutive common stock equivalents 54,077 — 43,698 — |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | Jan. 31, 2023 | |
Summary Of Significant Accounting Policies [Line Items] | |||||
Foreign currency transaction losses | $ 0.6 | $ 0.8 | $ 1.4 | $ 2.2 | |
United States, European Union (“EU”) Countries, and Japan | Geographic Concentration Risk | Cash and Cash Equivalents | |||||
Summary Of Significant Accounting Policies [Line Items] | |||||
Concentration risk, percentage | 95% | 98% |
Revenue Recognition - Disaggreg
Revenue Recognition - Disaggregation of Revenue by Geographical Region (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Disaggregation of Revenue [Line Items] | ||||
Amount | $ 287,310 | $ 242,222 | $ 576,898 | $ 487,288 |
Revenue | Geographic Concentration Risk | ||||
Disaggregation of Revenue [Line Items] | ||||
Percentage of Revenue | 100% | 100% | 100% | 100% |
Americas | ||||
Disaggregation of Revenue [Line Items] | ||||
Amount | $ 139,718 | $ 120,977 | $ 263,170 | $ 235,128 |
Americas | Revenue | Geographic Concentration Risk | ||||
Disaggregation of Revenue [Line Items] | ||||
Percentage of Revenue | 49% | 50% | 46% | 48% |
Europe, Middle East, and Africa | ||||
Disaggregation of Revenue [Line Items] | ||||
Amount | $ 81,009 | $ 69,521 | $ 177,940 | $ 139,124 |
Europe, Middle East, and Africa | Revenue | Geographic Concentration Risk | ||||
Disaggregation of Revenue [Line Items] | ||||
Percentage of Revenue | 28% | 29% | 31% | 29% |
Asia-Pacific | ||||
Disaggregation of Revenue [Line Items] | ||||
Amount | $ 66,583 | $ 51,724 | $ 135,788 | $ 113,036 |
Asia-Pacific | Revenue | Geographic Concentration Risk | ||||
Disaggregation of Revenue [Line Items] | ||||
Percentage of Revenue | 23% | 21% | 23% | 23% |
United States | Revenue | Geographic Concentration Risk | ||||
Disaggregation of Revenue [Line Items] | ||||
Percentage of Revenue | 44% | 45% | 41% | 44% |
Japan | Revenue | Geographic Concentration Risk | ||||
Disaggregation of Revenue [Line Items] | ||||
Percentage of Revenue | 10% | 9% | 11% | 11% |
Revenue Recognition - Deferred
Revenue Recognition - Deferred Revenue and Deferred Contract Acquisition Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Revenue from Contract with Customer [Abstract] | ||||
Deferred revenue recognized | $ 254,800 | $ 201,900 | ||
Deferred contract acquisition costs | $ 17,100 | $ 11,100 | $ 31,229 | $ 21,860 |
Revenue Recognition - Remaining
Revenue Recognition - Remaining Performance Obligations (Details) $ in Millions | Jul. 31, 2023 USD ($) |
Disaggregation of Revenue [Line Items] | |
Remaining performance obligations | $ 905.4 |
Billed Consideration | |
Disaggregation of Revenue [Line Items] | |
Remaining performance obligations | 487.8 |
Unbilled Consideration | |
Disaggregation of Revenue [Line Items] | |
Remaining performance obligations | $ 417.6 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-08-01 | |
Disaggregation of Revenue [Line Items] | |
Remaining performance obligations, percentage | 62% |
Remaining performance obligations, period | 12 months |
Marketable Securities - Summary
Marketable Securities - Summary of Marketable Securities (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Jan. 31, 2023 |
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | $ 736,300 | $ 358,335 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (630) | (619) |
Estimated Fair Value | 735,670 | 357,716 |
Commercial paper | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 61,740 | 62,470 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 61,740 | 62,470 |
Treasury bills and U.S. government securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 555,966 | 234,848 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (418) | (308) |
Estimated Fair Value | 555,548 | 234,540 |
Corporate bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 10,809 | 46,684 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (39) | (198) |
Estimated Fair Value | 10,770 | 46,486 |
Municipal bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 1,751 | 6,374 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (15) | (66) |
Estimated Fair Value | 1,736 | 6,308 |
Agency bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 106,034 | 7,959 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (158) | (47) |
Estimated Fair Value | 105,876 | 7,912 |
Cash and cash equivalents | Treasury bills | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 39,800 | 10,000 |
Estimated Fair Value | $ 39,800 | $ 10,000 |
Marketable Securities - Additio
Marketable Securities - Additional Information (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Jan. 31, 2023 |
Investments, Debt and Equity Securities [Abstract] | ||
Marketable securities with contractual maturities of one year or more | $ 0 | $ 2,942 |
Prepaid Expenses and Other Current Assets | ||
Debt Securities, Available-for-sale [Line Items] | ||
Interest receivable | $ 3,000 | $ 3,500 |
Fair Value Measurement (Details
Fair Value Measurement (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Jan. 31, 2023 |
Financial assets: | ||
Total marketable securities | $ 735,670 | $ 357,716 |
Commercial paper | ||
Financial assets: | ||
Total marketable securities | 61,740 | 62,470 |
Treasury bills and U.S. government securities | ||
Financial assets: | ||
Total marketable securities | 555,548 | 234,540 |
Corporate bonds | ||
Financial assets: | ||
Total marketable securities | 10,770 | 46,486 |
Municipal bonds | ||
Financial assets: | ||
Total marketable securities | 1,736 | 6,308 |
Agency bonds | ||
Financial assets: | ||
Total marketable securities | 105,876 | 7,912 |
Recurring | ||
Financial assets: | ||
Total cash equivalents | 592,940 | 329,769 |
Total marketable securities | 735,670 | 357,716 |
Total | 1,328,610 | 687,485 |
Recurring | Money market | ||
Financial assets: | ||
Total cash equivalents | 528,156 | 319,801 |
Recurring | Treasury bills | ||
Financial assets: | ||
Total cash equivalents | 39,807 | 9,968 |
Recurring | Commercial paper | ||
Financial assets: | ||
Total cash equivalents | 24,977 | |
Total marketable securities | 61,740 | 62,470 |
Recurring | Treasury bills and U.S. government securities | ||
Financial assets: | ||
Total marketable securities | 555,548 | 234,540 |
Recurring | Corporate bonds | ||
Financial assets: | ||
Total marketable securities | 10,770 | 46,486 |
Recurring | Municipal bonds | ||
Financial assets: | ||
Total marketable securities | 1,736 | 6,308 |
Recurring | Agency bonds | ||
Financial assets: | ||
Total marketable securities | 105,876 | 7,912 |
Recurring | Level 1 | ||
Financial assets: | ||
Total cash equivalents | 567,963 | 329,769 |
Total marketable securities | 661,424 | 242,452 |
Total | 1,229,387 | 572,221 |
Recurring | Level 1 | Money market | ||
Financial assets: | ||
Total cash equivalents | 528,156 | 319,801 |
Recurring | Level 1 | Treasury bills | ||
Financial assets: | ||
Total cash equivalents | 39,807 | 9,968 |
Recurring | Level 1 | Commercial paper | ||
Financial assets: | ||
Total cash equivalents | 0 | |
Total marketable securities | 0 | 0 |
Recurring | Level 1 | Treasury bills and U.S. government securities | ||
Financial assets: | ||
Total marketable securities | 555,548 | 234,540 |
Recurring | Level 1 | Corporate bonds | ||
Financial assets: | ||
Total marketable securities | 0 | 0 |
Recurring | Level 1 | Municipal bonds | ||
Financial assets: | ||
Total marketable securities | 0 | 0 |
Recurring | Level 1 | Agency bonds | ||
Financial assets: | ||
Total marketable securities | 105,876 | 7,912 |
Recurring | Level 2 | ||
Financial assets: | ||
Total cash equivalents | 24,977 | 0 |
Total marketable securities | 74,246 | 115,264 |
Total | 99,223 | 115,264 |
Recurring | Level 2 | Money market | ||
Financial assets: | ||
Total cash equivalents | 0 | 0 |
Recurring | Level 2 | Treasury bills | ||
Financial assets: | ||
Total cash equivalents | 0 | 0 |
Recurring | Level 2 | Commercial paper | ||
Financial assets: | ||
Total cash equivalents | 24,977 | |
Total marketable securities | 61,740 | 62,470 |
Recurring | Level 2 | Treasury bills and U.S. government securities | ||
Financial assets: | ||
Total marketable securities | 0 | 0 |
Recurring | Level 2 | Corporate bonds | ||
Financial assets: | ||
Total marketable securities | 10,770 | 46,486 |
Recurring | Level 2 | Municipal bonds | ||
Financial assets: | ||
Total marketable securities | 1,736 | 6,308 |
Recurring | Level 2 | Agency bonds | ||
Financial assets: | ||
Total marketable securities | 0 | 0 |
Recurring | Level 3 | ||
Financial assets: | ||
Total | $ 0 | $ 0 |
Business Acquisition - Summary
Business Acquisition - Summary of Total Purchase Consideration (Details) - USD ($) $ in Thousands, shares in Millions | 6 Months Ended | ||
Jul. 29, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Business Acquisition [Line Items] | |||
Loan notes issued in connection with business acquisitions | $ 0 | $ 11,433 | |
Re:infer | |||
Business Acquisition [Line Items] | |||
Cash paid at closing | $ 30,117 | ||
Fair value of Class A common stock issued at closing | 2,965 | ||
Working capital adjustment | 66 | ||
Total purchase consideration | $ 44,581 | ||
Stock issued at closing (in shares) | 0.2 | ||
Re:infer | Accrued expenses and other current liabilities | |||
Business Acquisition [Line Items] | |||
Loan notes issued in connection with business acquisitions | $ 5,863 | ||
Re:infer | Other liabilities, non-current | |||
Business Acquisition [Line Items] | |||
Loan notes issued in connection with business acquisitions | $ 5,570 |
Business Acquisition - Addition
Business Acquisition - Additional Information (Details) - USD ($) $ in Thousands, shares in Millions | 6 Months Ended | ||
Jul. 29, 2022 | Jul. 31, 2023 | Jan. 31, 2023 | |
Business Acquisition [Line Items] | |||
Purchase price allocation to goodwill | $ 90,051 | $ 88,010 | |
Re:infer | |||
Business Acquisition [Line Items] | |||
Total purchase consideration | $ 44,581 | ||
Stock issued at closing subject to clawback provisions (in shares) | 0.4 | ||
Purchase price allocation to goodwill | $ 34,351 | ||
Goodwill deductible for tax purposes | 0 | ||
Re:infer | Common Stock | |||
Business Acquisition [Line Items] | |||
Unrecognized compensation expense | $ 7,600 | $ 5,100 | |
Weighted-average remaining period | 3 years | 2 years |
Business Acquisition - Summar_2
Business Acquisition - Summary of Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Jan. 31, 2023 | Jul. 29, 2022 |
Business Acquisition [Line Items] | |||
Goodwill | $ 90,051 | $ 88,010 | |
Re:infer | |||
Business Acquisition [Line Items] | |||
Net tangible assets | $ 300 | ||
Intangible assets | 13,100 | ||
Goodwill | 34,351 | ||
Total assets acquired | 47,751 | ||
Deferred tax liabilities assumed | (3,170) | ||
Total | $ 44,581 |
Business Acquisition - Summar_3
Business Acquisition - Summary of Components of Identifiable Intangible Assets Acquired and Their Estimated Useful Lives (Details) - Re:infer $ in Thousands | Jul. 29, 2022 USD ($) |
Business Acquisition [Line Items] | |
Fair Value | $ 13,100 |
Developed technology | |
Business Acquisition [Line Items] | |
Fair Value | $ 10,000 |
Estimated Useful Life | 5 years |
Customer relationships | |
Business Acquisition [Line Items] | |
Fair Value | $ 3,100 |
Estimated Useful Life | 3 years |
Intangible Assets and Goodwil_2
Intangible Assets and Goodwill - Summary of Intangible Assets, Net (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Jan. 31, 2023 |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross | $ 39,023 | $ 38,194 |
Accumulated Amortization | (19,779) | (15,184) |
Intangible Assets, Net | 19,244 | 23,010 |
Developed technology | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross | 29,194 | 28,517 |
Accumulated Amortization | (14,206) | (11,095) |
Intangible Assets, Net | $ 14,988 | $ 17,422 |
Weighted- Average Remaining Useful Life (in years) | 3 years 2 months 12 days | 3 years 6 months |
Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross | $ 8,325 | $ 8,174 |
Accumulated Amortization | (4,985) | (3,601) |
Intangible Assets, Net | $ 3,340 | $ 4,573 |
Weighted- Average Remaining Useful Life (in years) | 1 year 7 months 6 days | 2 years |
Trade names and trademarks | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross | $ 273 | $ 272 |
Accumulated Amortization | (251) | (233) |
Intangible Assets, Net | $ 22 | $ 39 |
Weighted- Average Remaining Useful Life (in years) | 8 months 12 days | 1 year 2 months 12 days |
Other intangibles | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible Assets, Gross | $ 1,231 | $ 1,231 |
Accumulated Amortization | (337) | (255) |
Intangible Assets, Net | $ 894 | $ 976 |
Weighted- Average Remaining Useful Life (in years) | 7 years 3 months 18 days | 7 years 8 months 12 days |
Intangible Assets and Goodwil_3
Intangible Assets and Goodwill - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
Amortization of acquired intangible assets | $ 2.2 | $ 1.3 | $ 4.3 | $ 2.7 |
Intangible Assets and Goodwil_4
Intangible Assets and Goodwill - Summary of Expected Future Amortization Expenses Related to Intangible Assets (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Jan. 31, 2023 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Remainder of year ending January 31, 2024 | $ 4,372 | |
2025 | 6,766 | |
2026 | 4,144 | |
2027 | 2,480 | |
2028 | 1,179 | |
Thereafter | 303 | |
Intangible Assets, Net | $ 19,244 | $ 23,010 |
Intangible Assets and Goodwil_5
Intangible Assets and Goodwill - Summary of Changes in Carrying Amounts of Goodwill (Details) $ in Thousands | 6 Months Ended |
Jul. 31, 2023 USD ($) | |
Goodwill [Roll Forward] | |
Beginning balance | $ 88,010 |
Effect of foreign currency translation | 2,041 |
Ending Balance | $ 90,051 |
Operating Leases - Additional I
Operating Leases - Additional Information (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Jan. 31, 2023 |
Lessee, Lease, Description [Line Items] | ||
Non-cancellable commitments for operating leases that have not yet commenced | $ 4,600 | |
Current operating lease liabilities | $ 6,341 | $ 6,997 |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] | Accrued expenses and other current liabilities | Accrued expenses and other current liabilities |
Minimum | ||
Lessee, Lease, Description [Line Items] | ||
Operating lease remaining lease terms | 1 year | |
Maximum | ||
Lessee, Lease, Description [Line Items] | ||
Operating lease remaining lease terms | 15 years |
Operating Leases - Summary of L
Operating Leases - Summary of Lease Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Leases [Abstract] | ||||
Operating lease cost | $ 3,228 | $ 2,736 | $ 6,299 | $ 5,495 |
Short-term lease cost | 1,320 | 1,535 | 2,620 | 3,043 |
Variable lease cost | 525 | 316 | 1,146 | 523 |
Sublease income | (533) | (533) | (1,065) | (1,065) |
Total | $ 4,540 | $ 4,054 | $ 9,000 | $ 7,996 |
Operating Leases - Weighted Ave
Operating Leases - Weighted Average Lease Term and Discount Rate (Details) | Jul. 31, 2023 | Jan. 31, 2023 |
Leases [Abstract] | ||
Weighted-average remaining lease term (years) | 11 years 6 months | 12 years 1 month 6 days |
Weighted-average discount rate (as a percent) | 7.10% | 7% |
Operating Leases - Summary of F
Operating Leases - Summary of Future Undiscounted Lease Payments for Operating Lease Liabilities (Details) $ in Thousands | Jul. 31, 2023 USD ($) |
Leases [Abstract] | |
Remainder of year ending January 31, 2024 | $ 5,393 |
2025 | 11,354 |
2026 | 9,225 |
2027 | 8,608 |
2028 | 7,917 |
Thereafter | 48,965 |
Total operating lease payments | 91,462 |
Less: imputed interest | (28,422) |
Total operating lease liabilities | $ 63,040 |
Operating Leases - Supplemental
Operating Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Leases [Abstract] | ||||
Cash paid for amounts included in the measurement of operating lease liabilities | $ 3,545 | $ 1,493 | $ 6,160 | $ 3,557 |
Operating lease ROU assets obtained in exchange for new operating lease liabilities | $ 2,688 | $ 2,120 | $ 4,681 | $ 2,890 |
Condensed Consolidated Balanc_5
Condensed Consolidated Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Jan. 31, 2023 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Prepaid expenses and service credits | $ 82,520 | $ 67,794 |
Other current assets | 24,853 | 26,356 |
Prepaid expenses and other current assets | $ 107,373 | $ 94,150 |
Condensed Consolidated Balanc_6
Condensed Consolidated Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Jan. 31, 2023 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 57,897 | $ 56,976 |
Less: accumulated depreciation | (33,218) | (27,931) |
Property and equipment, net | 24,679 | 29,045 |
Computers and equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 29,003 | 28,450 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 21,843 | 19,622 |
Furniture and fixtures | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 6,604 | 6,485 |
Construction in progress | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 447 | $ 2,419 |
Condensed Consolidated Balanc_7
Condensed Consolidated Balance Sheet Components - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||
Depreciation expense | $ 2.8 | $ 1.9 | $ 5.8 | $ 3.8 |
Condensed Consolidated Balanc_8
Condensed Consolidated Balance Sheet Components - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Jul. 31, 2023 | Jan. 31, 2023 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accrued expenses | $ 12,188 | $ 19,411 |
Withholding tax from employee equity transactions | 2,408 | 3,772 |
Employee stock purchase plan withholdings | 3,688 | 3,365 |
Payroll taxes and other benefits payable | 3,879 | 7,644 |
Income tax payable | 10,220 | 8,750 |
Value-added taxes payable | 2,567 | 6,381 |
Operating lease liabilities, current | 6,341 | 6,997 |
Deferred consideration for business acquisition, current | 5,570 | 5,863 |
Other | 17,543 | 14,462 |
Accrued expenses and other current liabilities | $ 64,404 | $ 76,645 |
Credit Facility (Details)
Credit Facility (Details) - Senior Secured Credit Facility - HSBC Ventures USA Inc., Silicon Valley Bank, Sumitomo Mitsui Banking Corporation, and Mizuho Bank, LTD - USD ($) | Jul. 31, 2023 | Jan. 31, 2023 | Oct. 30, 2020 |
Line of Credit Facility [Line Items] | |||
Maximum borrowing capacity under credit agreement | $ 200,000,000 | ||
Outstanding liability under credit facility | $ 0 | $ 0 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | Jan. 31, 2023 | Nov. 10, 2022 | Jun. 24, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |||||||
Letters of credit outstanding | $ 3,600 | $ 3,600 | $ 4,300 | ||||
Defined contribution plan, contribution cost | $ 3,500 | $ 3,700 | 9,100 | $ 8,700 | |||
Employee Termination Benefits | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Expected percentage reduction of global workforce | 6% | 5% | |||||
Restructuring costs incurred | $ 2,606 |
Commitments and Contingencies_2
Commitments and Contingencies - Accrued Restructuring Costs (Details) - Employee Termination Benefits $ in Thousands | 6 Months Ended |
Jul. 31, 2023 USD ($) | |
Restructuring Reserve [Roll Forward] | |
Accrued restructuring costs, beginning balance | $ 3,889 |
Restructuring costs incurred | 2,606 |
Amount paid | (4,792) |
Accrued restructuring costs, ending balance | $ 1,703 |
Commitments and Contingencies_3
Commitments and Contingencies - Schedule of Non-Cancelable Purchase Obligations (Details) $ in Thousands | Jul. 31, 2023 USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Remainder of year ending January 31, 2024 | $ 33,578 |
2025 | 99,928 |
2026 | 56,633 |
2027 | 20,332 |
2028 | 8,245 |
Thereafter | 0 |
Total | $ 218,716 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Details) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Apr. 30, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Class of Stock [Line Items] | ||||
Charitable contribution recorded as expense | $ 4,215 | $ 5,499 | ||
Class A Common Stock | ||||
Class of Stock [Line Items] | ||||
Common stock shares reserved to fund social impact and environmental, social and governance initiatives (in shares) | 2,800 | |||
Class A Common Stock | Common Stock | ||||
Class of Stock [Line Items] | ||||
Charitable donation of Class A common stock (in shares) | 281 | 300 | 300 |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Changes In Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jul. 31, 2023 | Apr. 30, 2023 | Jul. 31, 2022 | Apr. 30, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
Beginning balance | $ 1,955,537 | $ 1,920,158 | $ 1,880,194 | $ 1,921,917 | $ 1,920,158 | $ 1,921,917 |
Other comprehensive income (loss), net of tax | 1,432 | 2,462 | 709 | (458) | 3,894 | 251 |
Ending balance | 1,983,366 | 1,955,537 | 1,849,549 | 1,880,194 | 1,983,366 | 1,849,549 |
Accumulated Other Comprehensive Income | ||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
Beginning balance | 10,074 | 7,612 | 10,441 | 10,899 | 7,612 | 10,899 |
Other comprehensive income (loss), net of tax | 1,432 | 2,462 | 709 | (458) | ||
Ending balance | 11,506 | 10,074 | 11,150 | 10,441 | 11,506 | 11,150 |
Foreign Currency Translation Adjustments | ||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
Beginning balance | 8,231 | 11,234 | 8,231 | 11,234 | ||
Other comprehensive income (loss), net of tax | 3,912 | 552 | ||||
Ending balance | 12,143 | 11,786 | 12,143 | 11,786 | ||
Unrealized Gain (Loss) on Marketable Securities | ||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
Beginning balance | $ (619) | $ (335) | (619) | (335) | ||
Other comprehensive income (loss), net of tax | (18) | (301) | ||||
Ending balance | $ (637) | $ (636) | $ (637) | $ (636) |
Equity Incentive Plans and St_3
Equity Incentive Plans and Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2023 | Jul. 29, 2022 | Apr. 22, 2021 | Sep. 30, 2020 | Jul. 31, 2022 | Jul. 31, 2023 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Weighted-average grant date fair value of stock options granted (in dollars per share) | $ 16.62 | |||||
Intrinsic value of stock options exercised | $ 42,200 | |||||
Cost not yet recognized for unvested options | $ 129,800 | $ 129,800 | ||||
Restricted stock awards issued, value | $ 1 | |||||
Re:infer | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock issued at closing subject to clawback provisions (in shares) | 400 | |||||
Stock Options | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Weighted-average remaining period | 2 years 6 months | |||||
Restricted Stock Units | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Weighted-average remaining period | 2 years 7 months 6 days | |||||
Fair value of RSUs vested | $ 157,000 | |||||
Unrecognized compensation expense | 693,100 | $ 693,100 | ||||
Grant date fair value per share (in dollars per share) | $ 16.60 | |||||
Granted (in shares) | 15,620 | |||||
Restricted Stock Awards | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Weighted-average remaining period | 1 year 1 month 6 days | |||||
Unrecognized compensation expense | $ 1,100 | $ 1,100 | ||||
Restricted stock awards issued (in shares) | 100 | |||||
Grant date fair value per share (in dollars per share) | $ 33.22 | |||||
Restricted stock awards issued, value | $ 4,000 | |||||
Award vesting period | 4 years | |||||
Performance Shares | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Grant date fair value per share (in dollars per share) | $ 18.08 | |||||
Granted (in shares) | 100 | |||||
Performance Shares | Share-Based Payment Arrangement, Tranche One | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting rights (percent) | 0% | |||||
Performance Shares | Share-Based Payment Arrangement, Tranche Two | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting rights (percent) | 100% | |||||
Performance Shares | Share-Based Payment Arrangement, Tranche Three | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting rights (percent) | 200% | |||||
ESPP | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares available for future issuances (in shares) | 15,500 | |||||
Period of shares automatically increase | 10 years | |||||
Percentage of total number of shares | 1% | |||||
Number of shares authorized (in shares) | 21,500 | 21,500 | ||||
Weighted-average remaining period | 4 months 24 days | |||||
Unrecognized compensation expense | $ 2,500 | $ 2,500 | ||||
Shares purchased (in shares) | 800 | |||||
Purchase price (in dollars per share) | $ 11.19 | $ 11.19 | ||||
Common Stock | Re:infer | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Weighted-average remaining period | 3 years | 2 years | ||||
Unrecognized compensation expense | $ 5,100 | $ 7,600 | $ 5,100 | |||
Class A Common Stock | ESPP | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Purchase price of common stock, offering date, percent of market price | 85% | |||||
Purchase price of common stock, purchase date, percent of market price | 85% | |||||
2021 Stock Plan | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Period of shares automatically increase | 10 years | |||||
Percentage of total number of shares | 5% | |||||
2021 Stock Plan | Class A Common Stock | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares available for future issuances (in shares) | 173,700 | 173,700 |
Equity Incentive Plans and St_4
Equity Incentive Plans and Stock-Based Compensation - Summary of Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended |
Jul. 31, 2023 USD ($) $ / shares shares | Jan. 31, 2023 USD ($) $ / shares shares | |
Stock Options | ||
Outstanding, beginning balance (in shares) | shares | 13,898 | |
Granted (in shares) | shares | 2,614 | |
Exercised (in shares) | shares | (2,722) | |
Forfeited (in shares) | shares | (205) | |
Outstanding, ending balance (in shares) | shares | 13,585 | 13,898 |
Vested and exercisable, Number of Stock Options (in shares) | shares | 5,763 | |
Weighted- Average Exercise Price | ||
Outstanding, beginning balance (in dollars per share) | $ / shares | $ 3.32 | |
Granted (in dollars per share) | $ / shares | 0.10 | |
Exercised (in dollars per share) | $ / shares | 1.43 | |
Forfeited (in dollars per share) | $ / shares | 0.82 | |
Outstanding, ending balance (in dollars per share) | $ / shares | 3.11 | $ 3.32 |
Vested and exercisable, Weighted-Average Exercise Price (in dollars per share) | $ / shares | $ 3.61 | |
Outstanding, Weighted-Average Remaining Contractual Life (years) | 7 years 8 months 12 days | 7 years 8 months 12 days |
Vested and exercisable, Weighted-Average Remaining Contractual Life (years) | 6 years | |
Outstanding, Aggregate Intrinsic Value | $ | $ 203,300 | $ 169,324 |
Vested and exercisable, Aggregate Intrinsic Value | $ | $ 83,392 |
Equity Incentive Plans and St_5
Equity Incentive Plans and Stock-Based Compensation - Summary of Restricted Stock Unit Activity (Details) - Restricted Stock Units shares in Thousands | 6 Months Ended |
Jul. 31, 2023 $ / shares shares | |
RSUs | |
Unvested, beginning balance (in shares) | shares | 36,785 |
Granted (in shares) | shares | 15,620 |
Vested (in shares) | shares | (9,133) |
Forfeited (in shares) | shares | (5,013) |
Unvested, ending balance (in shares) | shares | 38,259 |
Weighted-Average Grant Date Fair Value Per Share | |
Unvested, beginning balance (in dollars per share) | $ / shares | $ 22.48 |
Granted (in dollars per share) | $ / shares | 16.60 |
Vested (in dollars per share) | $ / shares | 20.89 |
Forfeited (in dollars per share) | $ / shares | 23.71 |
Unvested, ending balance (in dollars per share) | $ / shares | $ 20.30 |
Equity Incentive Plans and St_6
Equity Incentive Plans and Stock-based Compensation - Summary of Stock-Based Compensation Expense in Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | $ 102,097 | $ 88,252 | $ 187,145 | $ 189,706 |
Cost of revenue | Subscription services | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | 3,809 | 2,841 | 6,987 | 6,057 |
Cost of revenue | Professional services and other | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | 3,083 | 2,528 | 5,782 | 6,402 |
Sales and marketing | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | 39,007 | 35,889 | 72,130 | 86,647 |
Research and development | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | 33,071 | 23,501 | 57,844 | 50,124 |
General and administrative | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense | $ 23,127 | $ 23,493 | $ 44,402 | $ 40,476 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Valuation Allowance [Line Items] | ||||
Provision for income taxes | $ 3,830 | $ 4,090 | $ 7,462 | $ 8,879 |
Effective tax rate | (6.80%) | (3.50%) | (8.80%) | (3.80%) |
Unrecognized tax benefits which would impact the effective tax rate if recognized | $ 2,300 | $ 2,300 | ||
Liability pertaining to uncertain tax positions | 1,500 | 1,500 | ||
Japan | ||||
Valuation Allowance [Line Items] | ||||
Deferred tax valuation allowance | $ 0 | $ 0 |
Net Loss Per Share Attributab_3
Net Loss Per Share Attributable to Common Stockholders - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jul. 31, 2023 | Apr. 30, 2023 | Jul. 31, 2022 | Apr. 30, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||||
Net loss | $ (60,361) | $ (31,901) | $ (120,378) | $ (122,561) | $ (92,262) | $ (242,939) |
Denominator: | ||||||
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) | 562,883 | 546,058 | 560,422 | 544,014 | ||
Net loss per share attributable to common stockholders, basic (in dollars per share) | $ (0.11) | $ (0.22) | $ (0.16) | $ (0.45) | ||
Denominator: | ||||||
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) | 562,883 | 546,058 | 560,422 | 544,014 | ||
Net loss per share attributable to common stockholders, diluted (in dollars per share) | $ (0.11) | $ (0.22) | $ (0.16) | $ (0.45) | ||
Class A Common Stock | ||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||||
Net loss | $ (51,519) | $ (102,201) | $ (78,688) | $ (206,118) | ||
Denominator: | ||||||
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) | 480,430 | 463,605 | 477,969 | 461,561 | ||
Net loss per share attributable to common stockholders, basic (in dollars per share) | $ (0.11) | $ (0.22) | $ (0.16) | $ (0.45) | ||
Denominator: | ||||||
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) | 480,430 | 463,605 | 477,969 | 461,561 | ||
Net loss per share attributable to common stockholders, diluted (in dollars per share) | $ (0.11) | $ (0.22) | $ (0.16) | $ (0.45) | ||
Class B Common Stock | ||||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||||
Net loss | $ (8,842) | $ (18,177) | $ (13,574) | $ (36,821) | ||
Denominator: | ||||||
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) | 82,453 | 82,453 | 82,453 | 82,453 | ||
Net loss per share attributable to common stockholders, basic (in dollars per share) | $ (0.11) | $ (0.22) | $ (0.16) | $ (0.45) | ||
Denominator: | ||||||
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) | 82,453 | 82,453 | 82,453 | 82,453 | ||
Net loss per share attributable to common stockholders, diluted (in dollars per share) | $ (0.11) | $ (0.22) | $ (0.16) | $ (0.45) |
Net Loss Per Share Attributab_4
Net Loss Per Share Attributable to Common Stockholders - Schedule of Anti-Dilutive Common Stock Equivalents Excluded from Computation of Diluted Net Loss Per Share (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Class A Common Stock | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive common stock equivalents | 55,483 | 44,418 | 54,077 | 43,698 |
Class A Common Stock | Unvested RSUs | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive common stock equivalents | 40,122 | 29,562 | 38,760 | 28,435 |
Class A Common Stock | Outstanding stock options | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive common stock equivalents | 14,206 | 14,138 | 14,047 | 13,965 |
Class A Common Stock | Shares subject to repurchase from RSAs and early exercised stock options | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive common stock equivalents | 53 | 116 | 58 | 483 |
Class A Common Stock | Shares issuable under ESPP | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive common stock equivalents | 680 | 588 | 787 | 808 |
Class A Common Stock | Returnable shares issued in connection with business acquisition | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive common stock equivalents | 422 | 14 | 425 | 7 |
Class B Common Stock | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive common stock equivalents | 0 | 0 | 0 | 0 |
Class B Common Stock | Unvested RSUs | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive common stock equivalents | 0 | 0 | 0 | 0 |
Class B Common Stock | Outstanding stock options | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive common stock equivalents | 0 | 0 | 0 | 0 |
Class B Common Stock | Shares subject to repurchase from RSAs and early exercised stock options | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive common stock equivalents | 0 | 0 | 0 | 0 |
Class B Common Stock | Shares issuable under ESPP | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive common stock equivalents | 0 | 0 | 0 | 0 |
Class B Common Stock | Returnable shares issued in connection with business acquisition | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive common stock equivalents | 0 | 0 | 0 | 0 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2023 | Jul. 31, 2022 | Jul. 31, 2023 | Jul. 31, 2022 | |
Related Party Transaction [Line Items] | ||||
Operating expenses | $ 315,908 | $ 317,839 | $ 608,240 | $ 633,841 |
Related Party | ||||
Related Party Transaction [Line Items] | ||||
Operating expenses | $ 0 | $ 1,100 | $ 0 | $ 1,900 |
Subsequent Events (Details)
Subsequent Events (Details) | Sep. 01, 2023 USD ($) |
Subsequent Event | |
Subsequent Event [Line Items] | |
Repurchase authorized | $ 500,000,000 |