Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jul. 31, 2021 | Aug. 31, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jul. 31, 2021 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | Couchbase, Inc. | |
Entity Central Index Key | 0001845022 | |
Current Fiscal Year End Date | --01-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | Yes | |
Entity File Number | 001-40601 | |
Entity Tax Identification Number | 26-3576987 | |
Entity Address, Address Line One | 3250 Olcott Street | |
Entity Address, City or Town | Santa Clara | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 95054 | |
City Area Code | 650 | |
Local Phone Number | 417-7500 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Incorporation, State or Country Code | DE | |
Title of 12(b) Security | Common stock, par value $0.00001 per share | |
Trading Symbol | BASE | |
Security Exchange Name | NASDAQ | |
Entity Common Stock, Shares Outstanding | 43,342,865 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (unaudited) - USD ($) | Jul. 31, 2021 | Jan. 31, 2021 |
Current assets | ||
Cash and cash equivalents | $ 239,246,000 | $ 37,297,000 |
Short-term investments | 14,321,000 | 19,546,000 |
Accounts receivable, net | 20,183,000 | 35,897,000 |
Deferred commissions | 8,645,000 | 8,353,000 |
Prepaid expenses and other current assets | 8,099,000 | 2,449,000 |
Total current assets | 290,494,000 | 103,542,000 |
Property and equipment, net | 5,578,000 | 6,506,000 |
Deferred commissions, noncurrent | 5,394,000 | 4,941,000 |
Other assets | 1,316,000 | 2,199,000 |
Total assets | 302,782,000 | 117,188,000 |
Current liabilities | ||
Accounts payable | 7,153,000 | 2,428,000 |
Accrued compensation and benefits | 9,020,000 | 9,110,000 |
Other accrued liabilities | 3,575,000 | 4,154,000 |
Deferred revenue | 48,980,000 | 57,168,000 |
Total current liabilities | 68,728,000 | 72,860,000 |
Long-term debt | 24,963,000 | 24,948,000 |
Deferred revenue, noncurrent | 5,356,000 | 4,542,000 |
Other liabilities | 1,312,000 | 1,358,000 |
Total liabilities | 100,359,000 | 103,708,000 |
Commitments and contingencies (Note 8) | ||
Redeemable convertible preferred stock, $0.00001 par value; 0 shares and 26,070,258 shares authorized as of July 31, 2021 and January 31, 2021, respectively; 0 shares and 26,070,213 shares issued and outstanding as of July 31, 2021 and January 31, 2021, respectively; aggregate liquidation preference of $314,829 as of January 31, 2021 | 259,822,000 | |
Stockholders’ equity (deficit) | ||
Preferred stock, $0.00001 par value; 200,000,000 and 0 shares authorized as of July 31, 2021 and January 31, 2021, respectively; 0 shares issued outstanding as of July 31, 2021 and January 31, 2021, respectively | ||
Additional paid-in capital | 515,245,000 | 37,410,000 |
Accumulated other comprehensive income | 0 | 1,000 |
Accumulated deficit | (312,822,000) | (283,753,000) |
Total stockholders’ equity (deficit) | 202,423,000 | (246,342,000) |
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit) | $ 302,782,000 | $ 117,188,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Statement Of Financial Position [Abstract] | ||
Redeemable convertible preferred stock , par value | $ 0.00001 | $ 0.00001 |
Redeemable convertible preferred stock, shares authorized | 0 | 26,070,258 |
Redeemable convertible preferred stock, shares issued | 0 | 26,070,213 |
Redeemable convertible preferred stock, shares outstanding | 0 | 26,070,213 |
Redeemable convertible preferred stock, liquidation preference | $ 314,829 | |
Preferred Stock, par value | $ 0.00001 | $ 0.00001 |
Preferred Stock, shares authorized | 200,000,000 | 0 |
Preferred Stock, shares issued | 0 | 0 |
Preferred Stock, shares outstanding | 0 | 0 |
Common Stock, par value | $ 0.00001 | $ 0.00001 |
Common Stock, shares authorized | 1,000,000,000 | 43,200,000 |
Common Stock, shares issued | 43,282,941 | 6,199,305 |
Common Stock, shares outstanding | 43,282,941 | 6,199,305 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Revenue: | ||||
Total revenue | $ 29,699 | $ 25,160 | $ 57,654 | $ 48,205 |
Cost of revenue: | ||||
Total cost of revenue | 3,525 | 2,683 | 6,917 | 5,360 |
Gross profit | 26,174 | 22,477 | 50,737 | 42,845 |
Operating expenses: | ||||
Research and development | 12,623 | 9,237 | 25,164 | 18,279 |
Sales and marketing | 22,263 | 16,475 | 42,897 | 33,702 |
General and administrative | 5,278 | 3,468 | 10,775 | 6,861 |
Total operating expenses | 40,164 | 29,180 | 78,836 | 58,842 |
Loss from operations | (13,990) | (6,703) | (28,099) | (15,997) |
Interest expense | (252) | (2,495) | (497) | (4,016) |
Other income (expense), net | (77) | 614 | 7 | 307 |
Loss before income taxes | (14,319) | (8,584) | (28,589) | (19,706) |
Provision for income taxes | 151 | 254 | 480 | 482 |
Net loss | (14,470) | (8,838) | (29,069) | (20,188) |
Cumulative dividends on Series G redeemable convertible preferred stock | (1,438) | (1,150) | (2,917) | (1,150) |
Net loss attributable to common stockholders | $ (15,908) | $ (9,988) | $ (31,986) | $ (21,338) |
Net loss per share attributable to common stockholders, basic and diluted | $ (1.76) | $ (1.76) | $ (4.16) | $ (3.77) |
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted | 9,045 | 5,662 | 7,696 | 5,660 |
License | ||||
Revenue: | ||||
Total revenue | $ 4,416 | $ 3,010 | $ 8,694 | $ 5,540 |
Support and Other | ||||
Revenue: | ||||
Total revenue | 23,613 | 20,627 | 45,800 | 39,269 |
Cost of revenue: | ||||
Total cost of revenue | 2,072 | 1,276 | 4,124 | 2,273 |
Total Subscription Revenue | ||||
Revenue: | ||||
Total revenue | 28,029 | 23,637 | 54,494 | 44,809 |
Services | ||||
Revenue: | ||||
Total revenue | 1,670 | 1,523 | 3,160 | 3,396 |
Cost of revenue: | ||||
Total cost of revenue | $ 1,453 | $ 1,407 | $ 2,793 | $ 3,087 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net loss | $ (14,470) | $ (8,838) | $ (29,069) | $ (20,188) |
Other comprehensive income (loss): | ||||
Net unrealized gains (losses) on investments, net of tax | 1 | (1) | ||
Total comprehensive loss | $ (14,469) | $ (8,838) | $ (29,070) | $ (20,188) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) (unaudited) - USD ($) $ in Thousands | Total | Redeemable Convertible Preferred Stock | Common Stock | Additional Paid-In Capital | Accumulated Other Comprehensive Income (Loss) | Accumulated Deficit |
Beginning balance at Jan. 31, 2020 | $ (213,216) | $ 30,554 | $ (243,770) | |||
Beginning balance, Shares at Jan. 31, 2020 | 18,901,887 | |||||
Beginning balance at Jan. 31, 2020 | $ 155,506 | |||||
Beginning balance, Shares at Jan. 31, 2020 | 5,646,238 | |||||
Issuance of common stock upon exercise of stock options | 144 | 144 | ||||
Issuance of common stock upon exercise of stock, Shares | 26,249 | |||||
Issuance of Series G redeemable convertible preferred stock, net of issuance costs | $ 104,316 | |||||
Issuance of Series G redeemable convertible preferred stock, net of issuance costs, Shares | 7,168,326 | |||||
Stock-based compensation | 2,207 | 2,207 | ||||
Net loss | (20,188) | (20,188) | ||||
Ending balance at Jul. 31, 2020 | (231,053) | 32,905 | (263,958) | |||
Ending balance, Shares at Jul. 31, 2020 | 26,070,213 | |||||
Ending balance at Jul. 31, 2020 | $ 259,822 | |||||
Ending balance, Shares at Jul. 31, 2020 | 5,672,487 | |||||
Beginning balance at Apr. 30, 2020 | (223,639) | 31,481 | (255,120) | |||
Beginning balance, Shares at Apr. 30, 2020 | 18,901,887 | |||||
Beginning balance at Apr. 30, 2020 | $ 155,506 | |||||
Beginning balance, Shares at Apr. 30, 2020 | 5,659,677 | |||||
Issuance of common stock upon exercise of stock options | 58 | 58 | ||||
Issuance of common stock upon exercise of stock, Shares | 12,810 | |||||
Issuance of Series G redeemable convertible preferred stock, net of issuance costs | $ 104,316 | |||||
Issuance of Series G redeemable convertible preferred stock, net of issuance costs, Shares | 7,168,326 | |||||
Stock-based compensation | 1,366 | 1,366 | ||||
Net loss | (8,838) | (8,838) | ||||
Ending balance at Jul. 31, 2020 | (231,053) | 32,905 | (263,958) | |||
Ending balance, Shares at Jul. 31, 2020 | 26,070,213 | |||||
Ending balance at Jul. 31, 2020 | $ 259,822 | |||||
Ending balance, Shares at Jul. 31, 2020 | 5,672,487 | |||||
Beginning balance at Jan. 31, 2021 | $ (246,342) | 37,410 | $ 1 | (283,753) | ||
Beginning balance, Shares at Jan. 31, 2021 | 26,070,213 | 26,070,213 | ||||
Beginning balance at Jan. 31, 2021 | $ 259,822 | |||||
Beginning balance, Shares at Jan. 31, 2021 | 6,199,305 | |||||
Issuance of common stock upon exercise of stock options | $ 4,288 | 4,288 | ||||
Issuance of common stock upon exercise of stock, Shares | 759,081 | 783,052 | ||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering | $ 259,822 | $ (259,822) | 259,822 | |||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering, Shares | (26,070,213) | 26,710,600 | ||||
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and other issuance costs | 209,924 | 209,924 | ||||
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and other issuance costs, Shares | 9,589,999 | |||||
Settlement of fractional shares to be paid in cash | (9) | (9) | ||||
Settlement of fractional shares to be paid in cash, Shares | (15) | |||||
Stock-based compensation | 3,810 | 3,810 | ||||
Net unrealized gains (losses) on investments | (1) | (1) | ||||
Net loss | (29,069) | (29,069) | ||||
Ending balance at Jul. 31, 2021 | $ 202,423 | 515,245 | (312,822) | |||
Ending balance, Shares at Jul. 31, 2021 | 0 | |||||
Ending balance, Shares at Jul. 31, 2021 | 43,282,941 | |||||
Beginning balance at Apr. 30, 2021 | $ (257,667) | 40,686 | (1) | (298,352) | ||
Beginning balance, Shares at Apr. 30, 2021 | 26,070,213 | |||||
Beginning balance at Apr. 30, 2021 | $ 259,822 | |||||
Beginning balance, Shares at Apr. 30, 2021 | 6,460,868 | |||||
Issuance of common stock upon exercise of stock options | 2,841 | 2,841 | ||||
Issuance of common stock upon exercise of stock, Shares | 521,489 | |||||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering | 259,822 | $ (259,822) | 259,822 | |||
Conversion of redeemable convertible preferred stock to common stock upon initial public offering, Shares | (26,070,213) | 26,710,600 | ||||
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and other issuance costs | 209,924 | 209,924 | ||||
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and other issuance costs, Shares | 9,589,999 | |||||
Settlement of fractional shares to be paid in cash | (9) | (9) | ||||
Settlement of fractional shares to be paid in cash, Shares | (15) | |||||
Stock-based compensation | 1,981 | 1,981 | ||||
Net unrealized gains (losses) on investments | 1 | $ 1 | ||||
Net loss | (14,470) | (14,470) | ||||
Ending balance at Jul. 31, 2021 | $ 202,423 | $ 515,245 | $ (312,822) | |||
Ending balance, Shares at Jul. 31, 2021 | 0 | |||||
Ending balance, Shares at Jul. 31, 2021 | 43,282,941 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (unaudited) $ in Thousands | 6 Months Ended | |
Jul. 31, 2021USD ($) | Jul. 31, 2020USD ($) | |
Cash flows from operating activities | ||
Net loss | $ (29,069) | $ (20,188) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation and amortization | 1,406 | 607 |
Amortization of debt issuance costs | 15 | 460 |
Debt prepayment costs | 375 | |
Stock-based compensation | 3,810 | 2,207 |
Amortization of deferred commissions | 6,326 | 4,505 |
Foreign currency transaction (gains) losses | 5 | (279) |
Other | 68 | 45 |
Changes in operating assets and liabilities | ||
Accounts receivable | 15,845 | 13,014 |
Deferred commissions | (7,071) | (4,758) |
Prepaid expenses and other assets | (5,848) | (364) |
Accounts payable | 4,553 | 462 |
Accrued compensation and benefits | (91) | (1,244) |
Other accrued liabilities | (1,749) | (794) |
Deferred revenue | (7,375) | (13,514) |
Net cash used in operating activities | (19,175) | (19,466) |
Cash flows from investing activities | ||
Purchases of short-term investments | (7,133) | |
Maturities of short-term investments | 12,285 | |
Purchases of property and equipment | (250) | (2,626) |
Net cash provided by (used in) investing activities | 4,902 | (2,626) |
Cash flows from financing activities | ||
Payments of debt | (31,777) | |
Proceeds from issuance of debt, net of issuance costs | 6,402 | |
Proceeds from issuance of Series G redeemable convertible preferred stock, net of issuance costs | 104,316 | |
Proceeds from exercise of stock options | 4,288 | 144 |
Proceeds from initial public offering, net of underwriting discounts and commissions | 214,854 | |
Payments of deferred offering costs | (2,795) | |
Net cash provided by financing activities | 216,347 | 79,085 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (125) | 24 |
Net increase in cash, cash equivalents and restricted cash | 201,949 | 57,017 |
Cash, cash equivalents and restricted cash | ||
Beginning of period | 37,840 | 18,767 |
End of period | 239,789 | 75,784 |
Cash and cash equivalents | 239,246 | 75,241 |
Restricted cash included in other assets | 543 | 543 |
Supplemental disclosures of cash activities | ||
Cash paid for income taxes | 442 | 349 |
Cash paid for interest | 495 | 2,494 |
Non-cash investing and financing activities: | ||
Change in purchases of property and equipment included in accounts payable and other accrued liabilities | 230 | $ (533) |
Change in deferred offering costs included in accounts payable and other accrued liabilities | 1,051 | |
Conversion of redeemable convertible preferred stock to common stock | $ 259,822 |
Description of Business
Description of Business | 6 Months Ended |
Jul. 31, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Description of Business | 1. Description of Business Couchbase, Inc. (“Couchbase” or the “Company”) provides an enterprise-class, multi-cloud NoSQL database architected on top of an open source foundation. Couchbase was incorporated in the State of Delaware in 2008 and is headquartered in Santa Clara, California. In these notes to the unaudited condensed consolidated financial statements, the “Company,” “Couchbase” “we,” “us,” and “our” refers to Couchbase, Inc. and its subsidiaries on a consolidated basis. |
Basis of Presentation and Summa
Basis of Presentation and Summary of Significant Accounting Policies | 6 Months Ended |
Jul. 31, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation and Summary of Significant Accounting Policies | 2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The Company’s unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission, (“SEC”), regarding interim financial reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP have been condensed or omitted, and accordingly the balance sheet as of January 31, 2021, and related disclosures, have been derived from the audited consolidated financial statements at that date but do not include all the information required by GAAP for complete consolidated financial statements. These unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements and, in the opinion of management, reflect all adjustments (consisting of only normal recurring adjustments) that are necessary for the fair statement of the Company’s condensed consolidated financial information. The results of operations for the three and six months ended July 31, 2021, are not necessarily indicative of the results to be expected for the year ending January 31, 2022, or for any other interim period or for any other future year. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the year ended January 31, 2021, included in the Company’s final prospectus filed with the SEC pursuant to Rule 424(b)(4) on July 22, 2021 (Final Prospectus). Initial Public Offering In July 2021, the Company completed its initial public offering (“IPO”), for the sale and issuance of 9,589,999 shares of its common stock at $24.00 per share, which included 1,250,869 shares issued pursuant to the exercise of the underwriters’ option to purchase additional shares. The Company received net proceeds of $214.9 million, after deducting underwriters’ discounts and commissions and before consideration of other issuance costs. In connection with the IPO, all 26,710,600 shares of outstanding redeemable convertible preferred stock automatically converted into an equivalent number of shares of common stock. Prior to the IPO, all deferred offering costs were capitalized in other noncurrent assets on the condensed consolidated balance sheets. Deferred offering costs of $4.9 million, primarily consisting of accounting, legal, and other fees related to the Company’s IPO, were offset against the IPO proceeds upon the closing of the Company’s IPO in July 2021. As of July 31, 2021 and January 31, 2021, unpaid deferred offering costs totaled $2.1 million and $1.1 million, respectively. Reverse Stock Split On June 30, 2021, the Company effected a 2.5-for-1 reverse stock split of its outstanding common stock, common stock warrants, preferred stock, and stock option awards. All issued and outstanding shares of common stock, common stock warrants, preferred stock, stock option awards and per share data have been adjusted in these condensed consolidated financial statements, on a retrospective basis, to reflect the reverse stock split for all periods presented. The par value of the common stock and preferred stock was not adjusted because of the reverse stock split. Fiscal Year The Company’s fiscal year ends on January 31. Unless otherwise stated, references to year in these condensed consolidated financial statements relate to fiscal year rather than calendar year. Principles of Consolidation The accompanying condensed c n s l i a e f i a c i a s t m n i c l u t u Couchbase, Inc. A l i e rc m a n n t r a s c i o a v b e l i m i a i o s l i a t i n Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts stated in the financial statements and accompanying notes. Such estimates include standalone selling prices (“SSP”) for each distinct performance obligation, capitalized internal-use software costs, expected period of benefit for deferred commissions, stock-based compensation, the determination of allowance for doubtful accounts and accounting for income taxes. The Company bases its estimates on historical experience and assumptions that management considers reasonable. The Company assesses these estimates on a regular basis; however, actual results could differ from these estimates. Estimates and assumptions about future events and their effects, including the impact of the COVID-19 pandemic, cannot be determined with certainty and therefore require increased judgment. These estimates and assumptions may change in future periods and will be recognized in the condensed consolidated financial statements as new events occur and additional information becomes known. To the extent the Company’s actual results differ materially from those estimates and assumptions, the Company’s future financial statements could be affected. COVID-19 While the duration and extent of the COVID-19 pandemic depends on future developments that cannot be accurately predicted at this time, such as the extent and effectiveness of containment actions, it has already had an adverse effect on the global economy and the lasting effects of the pandemic continue to be unknown. The Company may experience customer losses, including due to bankruptcy or customers ceasing operations, which may result in delays in collections or an inability to collect accounts receivable from these customers. The impact of COVID-19 on the Company’s financial condition, results of operations, or liquidity continues to remain uncertain, and as of the date of issuance of these financial statements, the Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or an adjustment to the carrying value of the Company’s assets or liabilities. These estimates may change, as new events occur and additional information is obtained, which will be recognized in the condensed consolidated financial statements as soon as they become known. Actual results could differ from those estimates, and any such differences may be material to the Company’s financial statements. Significant Accounting Policies There have been no significant changes to the Company’s significant accounting policies disclosed in “Note 2 – Basis of Presentation and Summary of Significant Accounting Policies” of the Company’s Final Prospectus. Recent Accounting Pronouncements Accounting Pronouncements Not Yet Adopted Under the JOBS Act, the Company meets the definition of an emerging growth company and can delay adopting new or revised accounting standards issued after the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the Company is no longer an emerging growth company or until the Company affirmatively and irrevocably opts out of the extended transition period. In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) Codification Improvements to Topic 842, Leases Leases (Topic 842): Targeted Improvements Leases (Top In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments adopt this standard on February 1, 2023 and is currently evaluating the impact of the adoption on its condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other —Internal-Use Software In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity |
Cash Equivalents and Short-Term
Cash Equivalents and Short-Term Investments | 6 Months Ended |
Jul. 31, 2021 | |
Cash Cash Equivalents And Short Term Investments [Abstract] | |
Cash Equivalents and Short-Term Investments | 3. Cash Equivalents and Short-Term Investments The following tables summarize the Company’s cash equivalents and short-term investments (in thousands): As of July 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cash Equivalents Money market funds $ 235,045 $ — $ — $ 235,045 Total cash equivalents 235,045 — — 235,045 Short-Term Investments Commercial paper 8,095 — — 8,095 Corporate debt securities 6,227 — (1 ) 6,226 Total short-term investments 14,322 — (1 ) 14,321 Total $ 249,367 $ — $ (1 ) $ 249,366 As of January 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cash Equivalents Money market funds $ 31,438 $ — $ — $ 31,438 Total cash equivalents 31,438 — — 31,438 Short-Term Investments Commercial paper 12,290 — — 12,290 Corporate debt securities 7,255 2 (1 ) 7,256 Total short-term investments 19,545 2 (1 ) 19,546 Total $ 50,983 $ 2 $ (1 ) $ 50,984 During the three and six months ended July 31, 2021 and 2020, the Company did not reclassify any amounts to earnings from accumulated other comprehensive income (loss) related to unrealized gains or losses in other income (expense), net in the condensed consolidated statements of operations. As of July 31, 2021 and January 31, 2021, the Company’s short-term investments had a contractual maturity date of less than one year. As of July 31, 2021, the Company had five short-term investments in an unrealized loss position. These short-term investments had an estimated fair value of $4.4 million and were not in a continuous unrealized loss position for more than twelve months. As of January 31, 2021, the Company had one short-term investment in an unrealized loss position. This short-term investment had an estimated fair value of $0.9 million and was not in a continuous unrealized loss position for more than twelve months. During the three and six months ended July 31, 2021, the Company had no other-than-temporary impairments of short-term investments. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jul. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 4. Fair Value Measurements The Company accounts for certain of its financial assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows: Level 1: Observable inputs, such as quoted prices in active markets for identical assets or liabilities. Level 2: Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The carrying amounts reflected on the condensed consolidated balance sheets for cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate fair value due to the short maturities of those instruments. The carrying value of long-term debt approximated fair value as of July 31, 2021, and January 31, 2021, based on the borrowing rates currently available to the Company with similar terms. The fair value of long-term debt is a Level 2 fair value measurement. The following tables present the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis (in thousands): As of July 31, 2021 Level 1 Level 2 Level 3 Total Cash Equivalents Money market funds $ 235,045 $ — $ — $ 235,045 Total cash equivalents 235,045 — — 235,045 Short-Term Investments Commercial paper — 8,095 — 8,095 Corporate debt securities — 6,226 — 6,226 Total short-term investments — 14,321 — 14,321 Total $ 235,045 $ 14,321 $ — $ 249,366 As of January 31, 2021 Level 1 Level 2 Level 3 Total Cash Equivalents Money market funds $ 31,438 $ — $ — $ 31,438 Total cash equivalents 31,438 — — 31,438 Short-Term Investments Commercial paper — 12,290 — 12,290 Corporate debt securities — 7,256 — 7,256 Total short-term investments — 19,546 — 19,546 Total $ 31,438 $ 19,546 $ — $ 50,984 The Company classifies its money market funds within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. The Company classifies its commercial paper and There were no transfers of financial assets into or out of Level 1, Level 2 or Level 3 during the periods presented. |
Balance Sheet Components
Balance Sheet Components | 6 Months Ended |
Jul. 31, 2021 | |
Balance Sheet Related Disclosures [Abstract] | |
Balance Sheet Components | 5. Balance Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following (in thousands): As of July 31, As of January 31, 2021 2021 Prepaid expenses $ 5,919 $ 803 Prepaid software 1,656 1,380 Other current assets 524 266 Total prepaid expenses and other current assets $ 8,099 $ 2,449 Property Property As of July 31, As of January 31, 2021 2021 Computer equipment $ 3,584 $ 3,304 Furniture and fixtures 412 408 Capitalized internal-use software 5,772 5,772 Leasehold improvements 1,582 1,387 Total gross property and equipment 11,350 10,871 Accumulated depreciation and amortization (5,772 ) (4,365 ) Total property and equipment, net $ 5,578 $ 6,506 Depreciation and amortization expense was $0.7 million and $0.4 million for the three months ended July 31, 2021 and 2020, respectively, and $1.4 million and $0.6 million for the six months ended July 31, 2021 and 2020, respectively. Accrued Compensation and Benefits Accrued compensation and benefits consisted of the following (in thousands): As of July 31, As of January 31, 2021 2021 Accrued bonus $ 4,182 $ 4,149 Accrued commissions 2,481 2,364 Accrued payroll and benefits 2,357 2,597 Total accrued compensation and benefits $ 9,020 $ 9,110 Other Accrued Liabilities Other accrued liabilities consisted of the following (in thousands): As of July 31, As of January 31, 2021 2021 Accrued professional fees $ 1,384 $ 1,925 Sales and value added tax payable 106 415 Income taxes payable 513 436 Accrued interest - 95 Other 1,572 1,283 Total other accrued liabilities $ 3,575 $ 4,154 |
Deferred Revenue and Remaining
Deferred Revenue and Remaining Performance Obligations | 6 Months Ended |
Jul. 31, 2021 | |
Revenue From Contract With Customer [Abstract] | |
Deferred Revenue and Remaining Performance Obligations | 6. Deferred Revenue and Remaining Performance Obligations The following table presents the deferred revenue balances (in thousands): As of July 31, As of January 31, 2021 2021 Deferred revenue, current $ 48,980 $ 57,168 Deferred revenue, noncurrent 5,356 4,542 Total deferred revenue $ 54,336 $ 61,710 Changes in the deferred revenue balances during the and six months ended July 31, 2021 and 2020 (unaudited) were as follows (in thousands): Six Months Ended July 31, 2021 2020 Beginning balance $ 61,710 $ 60,929 Performance obligations satisfied during the period that were included in the deferred revenue balance at the beginning of the year (38,813 ) (39,997 ) Increases due to invoicing prior to satisfaction of performance obligations 31,439 26,483 Ending balance $ 54,336 $ 47,415 Remaining performance obligations (“RPOs”) represent the amount of contracted future revenue that has not yet been recognized, including both deferred revenue and non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods. As of July 31, 2021, the Company’s RPOs were $118.9 million. The Company expects to recognize revenue of $74.1 million of these remaining performance obligations over the next twelve months, with the remaining balances recognized thereafter. |
Debt
Debt | 6 Months Ended |
Jul. 31, 2021 | |
Debt Disclosure [Abstract] | |
Debt | 7. Debt Debt is presented net of issuance costs on the condensed consolidated balance sheets as follows (in thousands) As of July 31, As of January 31, 2021 2021 Principal outstanding $ 25,000 $ 25,000 Unamortized discount and debt issuance costs (37 ) (52 ) Long-term debt $ 24,963 $ 24,948 Interest expense on the Company’s borrowings was $0.3 million and $2.5 million for the three months ended July 31, 2021 and 2020, respectively, and $0.5 million and $4.0 million for the six months ended July 31, 2021 and 2020, respectively. The effective interest rate was 3.9% and 6.5% for the three months ended July 31, 2021 and 2020, respectively, and 3.9% and 8.9% for the six months ended July 31, 2021 and 2020, respectively. Term Loan In August 2018, the Company entered into an agreement for a term loan (the “Loan”) with Hercules Capital to borrow up to a maximum of $35.0 million over a period of three years with an original maturity date in September 2021 In April 2019, the Company entered into an amendment to the Loan with Hercules Capital to increase the maximum Loan amount to $70.0 million and extending the maturity date. The Company borrowed $34.8 million, net of issuance costs, during the year ended January 31, 2020. Under the terms of the amended Loan, the Company continued to pay interest at the same rate monthly with the aggregate principal balance repayment date being extended to May 2023 2022, and a target annual recurring revenue leverage ratio, that if not met, would limit the additional amount of borrowings under the Loan. In June 2020, the Company paid off $25.0 million of the Loan and entered into an amendment to the Loan with Hercules Capital, which reduced the maximum borrowings under the Loan from $70.0 million to $25.0 million and extended the Loan maturity date to June 2024 In January 2021, the Company terminated the Loan and paid off the $25.0 million remaining outstanding balance of the Loan together with a prepayment penalty of $0.6 million and an end-of-term charge of $0.9 million in accordance with the terms of the Loan, which was recorded as interest expense in the condensed consolidated statement of operations. The Company wrote off the remaining unamortized debt discounts and issuance costs to interest expense upon the termination of the Loan with Hercules in January 2021. In connection with the amendment in April 2019, the Company also issued warrants to purchase shares of the Company’s common stock at $7.48 per share, exercisable over 10 years. The warrants were issuable at 2.25% of the aggregate amount of the borrowings drawn concurrently and after the amendment. The Company issued warrants to purchase 75,250 shares of the Company’s common stock on $25.0 million that was borrowed concurrently with the execution of the amendment and warrants to purchase an additional 30,100 shares of the Company’s common stock upon borrowings of an additional $10.0 million in December 2019. The warrants were recorded at fair value using the Black-Scholes option pricing model. The fair value of the warrants was recorded to equity and as a debt discount that was amortized to interest over the term of the loan. The total fair value of the common stock warrants was $0.4 million. As of July 31, 2021, all warrants were outstanding and exercisable. Credit Facility In November 2017, the Company entered into a line of credit agreement with Silicon Valley Bank, or Credit Facility, providing the Company the ability to borrow up to $10.0 million from a revolving line of credit with an original maturity date in November 2018 In November 2018, the Company entered into an amendment with Silicon Valley Bank to increase the line of credit limit to $15.0 million and extend the maturity date to November 2019 In April 2019, an amendment was entered into with the Silicon Valley Bank to decrease the line of credit to $10.0 million. In October 2019, an amendment was entered into with Silicon Valley Bank to extend the maturity of the line of credit to November 2020 In November 2020, the Company entered into an amendment with Silicon Valley Bank to extend the maturity of the line of credit to February 2021. In January 2021, the Company entered into an amendment with Silicon Valley Bank to increase the line of credit limit to $40.0 million and extend the maturity date to January 2024 The amended line of credit agreement requires the company to maintain an adjusted quick ratio (as defined by the agreement) of at least 1.15 to 1.0. The line of credit agreement also contains certain customary affirmative and negative covenants as well as customary events of default, subject to certain exceptions, including restrictions on the Company’s ability to, among other things, incur debt and liens, maintain collateral accounts, undergo fundamental changes including mergers or consolidations, dispose assets including selling, transferring or assigning assets, pay dividends or other distributions or make or permit payments on any subordinated debt. The Company was in compliance with the financial covenants under the line of credit as of July 31, 2021. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jul. 31, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 8. Commitments and Contingencies Operating Leases The Company leases facilities for office space under non-cancelable operating leases with various expiration dates through March 2025. Rent expense was $ million and $ 0.7 million for the three months ended July 31, 2021 and 2020, respectively , and $ million and $ 1.4 million for the six months ended July 31, 2021 and 2020, respectively. Other Contractual Commitments Other contractual commitments relate to third-party cloud infrastructure agreements and subscription arrangements. In July 2021, the Company negotiated a noncancelable arrangement with a cloud hosting service provider. Under the arrangement, the Company committed to spend an aggregate of at least $10.0 million between August 2021 and August 2024, with a minimum amount of approximately $3.0 As of July 31, 2021, except for the arrangement noted above, there were no other material changes to the Company’s other contractual commitments since January 31, 2021. Legal Matters From time to time, the Company may be a party to various legal matters, threatened claims, or proceedings in the normal course of business. Legal fees and other costs associated with such actions are expensed as incurred. The Company assesses, in conjunction with its legal counsel, the need to record a liability for litigation and contingencies. Legal accruals are recorded when and if it is determined that a loss related to a certain matter is both probable and reasonably estimable. Indemnification The Company enters into standard indemnification arrangements in the ordinary course of business. Pursuant to these arrangements, the Company indemnifies, holds harmless and agrees to reimburse the indemnified parties for losses suffered or incurred by the indemnified party, in connection with any trade secret, copyright, patent or other intellectual property infringement claims brought by any third party against such indemnified party with respect to licensed technology. The term of these indemnification agreements is generally perpetual any time after the execution of the agreement. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable because it involves claims that may be made against the Company in the future but have not yet been made. To date, the Company has not incurred costs to defend lawsuits or settle claims related to these indemnification agreements. The Company has entered into indemnification agreements with its directors and officers that may require the Company to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers, other than liabilities arising from willful misconduct of the individual. No liability associated with such indemnifications has been recorded as of July 31, 2021, or January 31, 2021. |
Retirement Plan
Retirement Plan | 6 Months Ended |
Jul. 31, 2021 | |
Compensation And Retirement Disclosure [Abstract] | |
Retirement Plan | 9. Retirement Plan The Company sponsors a defined contribution savings plan under Section 401(k) of the Internal Revenue Code of 1986, as amended, covering substantially all full-time U.S. employees. Each eligible employee may contribute to the 401(k) plan in accordance with the plan terms. The Company matches its employee contributions to the 401(k) plan. The total matching contributions were $0.1 million and less than $0.1 million for the three months ended July 31, 2021 and 2020, respectively, and $0.2 million and $0.2 million for the six months ended July 31, 2021 and 2020, respectively. |
Stockholders' Equity (Deficit)
Stockholders' Equity (Deficit) and Employee Incentive Plans | 6 Months Ended |
Jul. 31, 2021 | |
Equity And Compensation Related Costs Share Based Payments [Abstract] | |
Stockholders' Equity (Deficit) and Employee Incentive Plans | 10. Stockholders’ Equity (Deficit) and Employee Incentive Plans Redeemable Convertible Preferred Stock Upon the closing of the Company’s IPO, all 26,710,600 shares of redeemable convertible preferred stock were automatically converted into shares of common stock, which includes an additional 640,387 shares of redeemable convertible preferred stock. The additional shares of redeemable convertible preferred stock consisted of 162,032 shares for the Series E conversion feature and 478,355 shares for the Series G dividends. The carrying value of $259.8 million was reclassified into common stock and additional paid-in-capital. As of July 31, 2021, there were no shares of redeemable convertible preferred stock issued and outstanding. In connection with the IPO, the Company’s amended and restated certificate of incorporation became effective, which authorized the issuance of 200,000,000 shares of undesignated preferred stock with a par value of $0.00001 per share with rights and preferences, including voting rights, designated from time to time by the board of directors. Common Stock The Company’s Amended and Restated Certificate of Incorporation authorized the Company to issue 1,000,000,000 and 43,200,000 shares of common stock at a par value of $0.00001 as of July 31, 2021 and January 31, 2021, respectively. As of July 31, 202 1 and January 31, 202 1 , approximately and 6,199,305 shares of common stock were issued and outstanding, respectively. Each share of common stock is entitled to one vote. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when and if declared by the board of directors, subject to the prior rights of holders of all classes of stock outstanding. As of July 31, 2021 and January 31, 2021, no dividends had been declared. As of July 31, 2021, the Company has reserved common stock for future issuance, as follows: Number of Shares Stock options outstanding 9,908,576 Common stock warrants 105,350 Reserved for future grant of stock options 4,120,000 Total 14,133,926 Stock Plans The Company has three equity incentive plans: the 2008 Equity Incentive Plan (the “2008 Plan”) 2018 Equity Incentive Plan (the “2018 Plan”) and the 2021 Equity Incentive Plan (the “2021 Plan”), collectively (the “Stock Plans”). In connection with the Company’s IPO in July 2021, the 2008 Plan and the 2018 Plan were terminated and replaced by the 2021 Plan and all shares that remained available for issuance under the 2018 Plan at that time were reserved for issuance under the 2021 Plan. The number of shares of common stock available for issuance under the 2021 Plan will be increased by any shares of common stock subject to awards outstanding under the 2018 Plan that expire or otherwise terminate without having been exercised or issued in full, are tendered to or withheld by the Company for payment of an exercise price or for satisfying tax withholding obligations or are forfeited to or repurchased by the Company due to failure to vest. The Company has issued stock options to employees, directors, consultants, and advisors pursuant to the 2018 Plan. Through July 31, 2021, the Company has granted no equity awards pursuant to the 2021 Plan. Options granted under the 2021 Plan may be stock options, stock appreciation rights, restricted stock, restricted stock units, performance units and performance shares. Stock option grants may be either Incentive Stock Options (“ISO”) or Non-Qualified Stock Options (“NSO”). ISO may be granted only to Company employees (including officers and directors who are also employees). NSOs may be granted to Company employees, consultants, and nonemployee directors. Employee stock options are granted with an exercise price no less than the fair value of the underlying common stock on the grant date. Options granted under the 2021 Plan expire ten years from the date of grant and generally vest over four years at a rate of 25% upon the first anniversary of the issuance date and 1/48 per month thereafter. As of July 31, 2021, there were 4.1 million shares available for grant under the 2021 Plan. The 2021 Plan provides that the number of shares reserved will automatically increase on the first day of each fiscal year, beginning on February 1, 2022, by an amount equal to the least of (i) 4,120,000 shares, (ii) five-percent (5%) of the outstanding Shares of our common stock on the last day of the immediately preceding fiscal year, or (iii) such number of shares determined by the administrator of the 2021 Plan no later than the last day of the immediately preceding Fiscal Year. Stock option activity and activity regarding shares available for grant under the Stock Plans for six months ended July 31, 2021 are as follows (aggregate intrinsic value in thousands): Options Outstanding Shares Available for Grant Number of Options Weighted- Average Exercise Price Weighted- Average Contractual Term Aggregate Intrinsic Value Balances as of January 31, 2021 253,958 8,912,477 $ 6.42 6.49 $ 38,582 Additional shares reserved 5,604,548 — Options exercised — (759,081 ) $ 5.48 Options granted (1,948,563 ) 1,948,563 $ 22.49 Options cancelled 210,057 (210,057 ) $ 8.48 Balances as of July 31, 2021 4,120,000 9,891,902 $ 9.61 6.94 $ 203,235 Options vested and expected to vest as of July 31, 2021 9,891,902 $ 9.61 6.94 $ 203,235 Options vested and exercisable as of July 31, 2021 5,804,191 $ 5.93 5.51 $ 140,607 Stock options granted during the three months ended July 31, 2021 and 2020 had a weighted-average grant-date fair value of $11.31 and $2.99, respectively. The aggregate intrinsic value of options exercised during the three months ended July 31, 2021 and 2020 was $10.6 million and less than $0.1 million, respectively. Stock options granted during the six months ended July 31, 2021 and 2020 had a weighted-average grant-date fair value of $9.30 and $2.99, respectively. The aggregate intrinsic value of options exercised during the six months ended July 31, 2021 and 2020 was $14.4 million and $0.1 million, respectively. Aggregate intrinsic value represents the difference between the exercise price of the options and the estimated fair value of the Company’s common stock. The fair value of employee stock options was estimated using the following weighted-average assumptions: Three Months Ended July 31, Six Months Ended July 31, 2021 2020 2021 2020 Stock Option Plans: Expected term (in years) 6.1 6.1 6.1 6.1 Expected volatility 42.4 % 39.9 % 42.0 % 39.9 % Risk-free interest rate 1.0 % 0.4 % 1.0 % 0.4 % Dividend yield — — — — Expected term —The expected term of stock options represents the weighted-average period the stock options are expected to remain outstanding and is calculated using the simplified method, as the Company did not have sufficient historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior. The simplified method calculates the expected term as the midpoint between the vesting date and the contractual expiration date of the option. Expected volatility —The expected stock price volatility assumption was determined by examining the historical volatilities for industry peers, as the Company does not have any trading history for the Company’s common stock. Risk-free interest rate —The risk-free rate assumption is based on the U.S. Treasury instruments whose term was consistent with the expected term of the Company’s stock options. Dividend yield —The expected dividend assumption is based on the Company’s history and expectation of dividend payouts. Fair value of underlying common stock — Prior to the Company’s initial public offering, the fair value was determined by the Board of Directors with input from management and contemporaneous independent third-party valuations. Subsequent to the IPO, the fair value of the Company’s common stock is based on the daily average selling price on the Nasdaq Global Select Market. Stock-Based Compensation Stock-based compensation expense was as follows (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2021 2020 2021 2020 Cost of revenue—subscription $ 30 $ 19 $ 57 $ 34 Cost of revenue—services 24 17 46 27 Research and development 569 394 1,139 640 Sales and marketing 688 412 1,229 676 General and administrative 670 524 1,339 830 Total stock-based compensation expense $ 1,981 $ 1,366 $ 3,810 $ 2,207 Stock-based compensation expense related to options granted to nonemployees for the three and six months ended July 31, 2021 and 2020 was not material. As of January 31, 2021 and July 31, 2021, there was $8.7 million and $22.4 million, respectively, of unrecognized stock-based compensation expense related to unvested stock options, which is expected to be recognized over a weighted-average period of 2.5 years and 2.8 years, respectively. Employee Stock Purchase Plan In July 2021, the Company established an Employee Stock Purchase Plan (“ESPP”) in which eligible employees may contribute up to 15% of their base compensation to purchase shares of common stock at a price equal to 85% of the lower of (1) the fair market value of a share of the Company’s common stock at the beginning of the offering period and (2) the fair market value of a share of the Company’s common stock on the purchase date. A participant will be permitted to purchase a maximum of share s during each offering period. No participant may purchase more than 1,000 shares during any offering period. As of July 31, 2021, 830,000 shares were available for issuance and no shares of common stock were issued under the ESPP . Except for the initial offering period, the 2021 ESPP provides for 24-month offering periods beginning March 21 and September 21 of each year, and each offering period will consist of four six-month purchase periods. The initial offering period began on July 22, 2021 and will end on September 20, 2023. The initial offering shall consist of four purchase periods with the first purchase period ending on March 20, 2022, and the final purchase period ending on September 20, 2023. For accounting purposes, the grant date of the first offering was subsequent to July 31, 2021. |
Income Taxes
Income Taxes | 6 Months Ended |
Jul. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 11. Income Taxes Accounting for income taxes for interim periods generally requires the provision for income taxes to be determined by applying an estimate of the annual effective tax rate for the full fiscal year to income or loss before income taxes, adjusted for discrete items, if any, for the reporting period. The Company updates its estimate of the annual effective tax rate each quarter and records a cumulative adjustment in such period. The Company recorded income tax expense of $0.2 million and $0.3 million for the three months ended July 31, 2021 and 2020, respectively, and $0.5 million and $0.5 million for the six months ended July 31, 2021 and 2020, respectively. Income tax expense consists primarily of income taxes in foreign jurisdictions in which the Company conducts business. Due to the Company’s history of losses in the United States, a full valuation allowance on substantially all of the Company’s deferred tax assets, including net operating loss carryforwards, research and development tax credits, capitalized research and development, and other book versus tax differences was maintained. The American Rescue Plan Act (ARPA) was signed into law on March 11, 2021. The ARPA did not have any impact on the Company’s provision for income taxes for the three and six months ended July 31, 2021. |
Geographic Information
Geographic Information | 6 Months Ended |
Jul. 31, 2021 | |
Segment Reporting [Abstract] | |
Geographic Information | 12. Geographic Information The following table depicts the disaggregation of revenue by geographic area based on the billing address of the customer (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2021 2020 2021 2020 United States $ 18,336 $ 16,149 $ 36,383 $ 31,366 International 11,363 9,011 21,271 16,839 Total $ 29,699 $ 25,160 $ 57,654 $ 48,205 No individual foreign country contributed 10% As of January 31, 2021 and July 31, 2021, substantially all of the Company’s long-lived assets were located in the United States. |
Net Loss per Share
Net Loss per Share | 6 Months Ended |
Jul. 31, 2021 | |
Earnings Per Share [Abstract] | |
Net Loss per Share | 13. Net Loss per Share Basic net loss per share attributable to the Company’s common stockholders is computed by dividing the net loss attributable to the Company’s common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is the same as basic net loss per share for all years presented because the effects of potentially dilutive items were anti-dilutive given the Company’s net loss position in each period presented. The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data): Three Months Ended July 31, Six Months Ended July 31, 2021 2020 2021 2020 Numerator Net loss $ (14,470 ) $ (8,838 ) $ (29,069 ) $ (20,188 ) Cumulative dividends on Series G redeemable convertible preferred stock (1,438 ) (1,150 ) (2,917 ) (1,150 ) Net loss attributable to common stockholders $ (15,908 ) $ (9,988 ) $ (31,986 ) $ (21,338 ) Denominator Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 9,045 5,662 7,696 5,660 Net loss per share attributable to common stockholders, basic and diluted $ (1.76 ) $ (1.76 ) $ (4.16 ) $ (3.77 ) The following potentially dilutive securities were excluded from the computation of diluted net loss per share for the periods presented because the impact of including them would have been anti-dilutive (in thousands): As of July 31, 2021 2020 Stock options 9,909 9,194 Redeemable convertible preferred stock (on an if-converted basis) — 26,312 Common stock warrants 105 105 Total 10,014 35,611 |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jul. 31, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | 14. Subsequent Events Subsequent to July 31, 2021, the Company repaid the outstanding balance of its revolving line of credit of $25.0 million. |
Basis of Presentation and Sum_2
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jul. 31, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The Company’s unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission, (“SEC”), regarding interim financial reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP have been condensed or omitted, and accordingly the balance sheet as of January 31, 2021, and related disclosures, have been derived from the audited consolidated financial statements at that date but do not include all the information required by GAAP for complete consolidated financial statements. These unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements and, in the opinion of management, reflect all adjustments (consisting of only normal recurring adjustments) that are necessary for the fair statement of the Company’s condensed consolidated financial information. The results of operations for the three and six months ended July 31, 2021, are not necessarily indicative of the results to be expected for the year ending January 31, 2022, or for any other interim period or for any other future year. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the year ended January 31, 2021, included in the Company’s final prospectus filed with the SEC pursuant to Rule 424(b)(4) on July 22, 2021 (Final Prospectus). |
Initial Public Offering | Initial Public Offering In July 2021, the Company completed its initial public offering (“IPO”), for the sale and issuance of 9,589,999 shares of its common stock at $24.00 per share, which included 1,250,869 shares issued pursuant to the exercise of the underwriters’ option to purchase additional shares. The Company received net proceeds of $214.9 million, after deducting underwriters’ discounts and commissions and before consideration of other issuance costs. In connection with the IPO, all 26,710,600 shares of outstanding redeemable convertible preferred stock automatically converted into an equivalent number of shares of common stock. Prior to the IPO, all deferred offering costs were capitalized in other noncurrent assets on the condensed consolidated balance sheets. Deferred offering costs of $4.9 million, primarily consisting of accounting, legal, and other fees related to the Company’s IPO, were offset against the IPO proceeds upon the closing of the Company’s IPO in July 2021. As of July 31, 2021 and January 31, 2021, unpaid deferred offering costs totaled $2.1 million and $1.1 million, respectively. |
Reverse Stock Split | Reverse Stock Split On June 30, 2021, the Company effected a 2.5-for-1 reverse stock split of its outstanding common stock, common stock warrants, preferred stock, and stock option awards. All issued and outstanding shares of common stock, common stock warrants, preferred stock, stock option awards and per share data have been adjusted in these condensed consolidated financial statements, on a retrospective basis, to reflect the reverse stock split for all periods presented. The par value of the common stock and preferred stock was not adjusted because of the reverse stock split. |
Fiscal Year | Fiscal Year The Company’s fiscal year ends on January 31. Unless otherwise stated, references to year in these condensed consolidated financial statements relate to fiscal year rather than calendar year. |
Principles of Consolidation | Principles of Consolidation The accompanying condensed c n s l i a e f i a c i a s t m n i c l u t u Couchbase, Inc. A l i e rc m a n n t r a s c i o a v b e l i m i a i o s l i a t i n |
Use of Estimates | Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts stated in the financial statements and accompanying notes. Such estimates include standalone selling prices (“SSP”) for each distinct performance obligation, capitalized internal-use software costs, expected period of benefit for deferred commissions, stock-based compensation, the determination of allowance for doubtful accounts and accounting for income taxes. The Company bases its estimates on historical experience and assumptions that management considers reasonable. The Company assesses these estimates on a regular basis; however, actual results could differ from these estimates. Estimates and assumptions about future events and their effects, including the impact of the COVID-19 pandemic, cannot be determined with certainty and therefore require increased judgment. These estimates and assumptions may change in future periods and will be recognized in the condensed consolidated financial statements as new events occur and additional information becomes known. To the extent the Company’s actual results differ materially from those estimates and assumptions, the Company’s future financial statements could be affected. COVID-19 While the duration and extent of the COVID-19 pandemic depends on future developments that cannot be accurately predicted at this time, such as the extent and effectiveness of containment actions, it has already had an adverse effect on the global economy and the lasting effects of the pandemic continue to be unknown. The Company may experience customer losses, including due to bankruptcy or customers ceasing operations, which may result in delays in collections or an inability to collect accounts receivable from these customers. The impact of COVID-19 on the Company’s financial condition, results of operations, or liquidity continues to remain uncertain, and as of the date of issuance of these financial statements, the Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or an adjustment to the carrying value of the Company’s assets or liabilities. These estimates may change, as new events occur and additional information is obtained, which will be recognized in the condensed consolidated financial statements as soon as they become known. Actual results could differ from those estimates, and any such differences may be material to the Company’s financial statements. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Accounting Pronouncements Not Yet Adopted Under the JOBS Act, the Company meets the definition of an emerging growth company and can delay adopting new or revised accounting standards issued after the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the Company is no longer an emerging growth company or until the Company affirmatively and irrevocably opts out of the extended transition period. In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) Codification Improvements to Topic 842, Leases Leases (Topic 842): Targeted Improvements Leases (Top In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments adopt this standard on February 1, 2023 and is currently evaluating the impact of the adoption on its condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other —Internal-Use Software In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, In August 2020, the FASB issued ASU 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity |
Cash Equivalents and Short-Te_2
Cash Equivalents and Short-Term Investments (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Cash Cash Equivalents And Short Term Investments [Abstract] | |
Summary of Cash Equivalents and Short-term Investments | The following tables summarize the Company’s cash equivalents and short-term investments (in thousands): As of July 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cash Equivalents Money market funds $ 235,045 $ — $ — $ 235,045 Total cash equivalents 235,045 — — 235,045 Short-Term Investments Commercial paper 8,095 — — 8,095 Corporate debt securities 6,227 — (1 ) 6,226 Total short-term investments 14,322 — (1 ) 14,321 Total $ 249,367 $ — $ (1 ) $ 249,366 As of January 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Cash Equivalents Money market funds $ 31,438 $ — $ — $ 31,438 Total cash equivalents 31,438 — — 31,438 Short-Term Investments Commercial paper 12,290 — — 12,290 Corporate debt securities 7,255 2 (1 ) 7,256 Total short-term investments 19,545 2 (1 ) 19,546 Total $ 50,983 $ 2 $ (1 ) $ 50,984 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value Hierarchy For Company's Assets Measured at Fair Value on Recurring Basis | The following tables present the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis (in thousands): As of July 31, 2021 Level 1 Level 2 Level 3 Total Cash Equivalents Money market funds $ 235,045 $ — $ — $ 235,045 Total cash equivalents 235,045 — — 235,045 Short-Term Investments Commercial paper — 8,095 — 8,095 Corporate debt securities — 6,226 — 6,226 Total short-term investments — 14,321 — 14,321 Total $ 235,045 $ 14,321 $ — $ 249,366 As of January 31, 2021 Level 1 Level 2 Level 3 Total Cash Equivalents Money market funds $ 31,438 $ — $ — $ 31,438 Total cash equivalents 31,438 — — 31,438 Short-Term Investments Commercial paper — 12,290 — 12,290 Corporate debt securities — 7,256 — 7,256 Total short-term investments — 19,546 — 19,546 Total $ 31,438 $ 19,546 $ — $ 50,984 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Balance Sheet Related Disclosures [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, As of January 31, 2021 2021 Prepaid expenses $ 5,919 $ 803 Prepaid software 1,656 1,380 Other current assets 524 266 Total prepaid expenses and other current assets $ 8,099 $ 2,449 |
Schedule of Property and Equipment, Net | Property As of July 31, As of January 31, 2021 2021 Computer equipment $ 3,584 $ 3,304 Furniture and fixtures 412 408 Capitalized internal-use software 5,772 5,772 Leasehold improvements 1,582 1,387 Total gross property and equipment 11,350 10,871 Accumulated depreciation and amortization (5,772 ) (4,365 ) Total property and equipment, net $ 5,578 $ 6,506 |
Schedule of Accrued Compensation and Benefits | Accrued compensation and benefits consisted of the following (in thousands): As of July 31, As of January 31, 2021 2021 Accrued bonus $ 4,182 $ 4,149 Accrued commissions 2,481 2,364 Accrued payroll and benefits 2,357 2,597 Total accrued compensation and benefits $ 9,020 $ 9,110 |
Schedule of Other Accrued Liabilities | Other accrued liabilities consisted of the following (in thousands): As of July 31, As of January 31, 2021 2021 Accrued professional fees $ 1,384 $ 1,925 Sales and value added tax payable 106 415 Income taxes payable 513 436 Accrued interest - 95 Other 1,572 1,283 Total other accrued liabilities $ 3,575 $ 4,154 |
Deferred Revenue and Remainin_2
Deferred Revenue and Remaining Performance Obligations (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Revenue From Contract With Customer [Abstract] | |
Schedule of Deferred Revenue Balances and Changes in Deferred Revenues Balances | The following table presents the deferred revenue balances (in thousands): As of July 31, As of January 31, 2021 2021 Deferred revenue, current $ 48,980 $ 57,168 Deferred revenue, noncurrent 5,356 4,542 Total deferred revenue $ 54,336 $ 61,710 Changes in the deferred revenue balances during the and six months ended July 31, 2021 and 2020 (unaudited) were as follows (in thousands): Six Months Ended July 31, 2021 2020 Beginning balance $ 61,710 $ 60,929 Performance obligations satisfied during the period that were included in the deferred revenue balance at the beginning of the year (38,813 ) (39,997 ) Increases due to invoicing prior to satisfaction of performance obligations 31,439 26,483 Ending balance $ 54,336 $ 47,415 |
Debt (Tables)
Debt (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of Debt | Debt is presented net of issuance costs on the condensed consolidated balance sheets as follows (in thousands) As of July 31, As of January 31, 2021 2021 Principal outstanding $ 25,000 $ 25,000 Unamortized discount and debt issuance costs (37 ) (52 ) Long-term debt $ 24,963 $ 24,948 |
Stockholders' Equity (Deficit_2
Stockholders' Equity (Deficit) and Employee Incentive Plans (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Equity And Compensation Related Costs Share Based Payments [Abstract] | |
Summary of Reserved Common Stock for Future Issuance | As of July 31, 2021, the Company has reserved common stock for future issuance, as follows: Number of Shares Stock options outstanding 9,908,576 Common stock warrants 105,350 Reserved for future grant of stock options 4,120,000 Total 14,133,926 |
Summary of Stock Option Activity and Activity Regarding Shares Available for Grant under Stock Plans | Stock option activity and activity regarding shares available for grant under the Stock Plans for six months ended July 31, 2021 are as follows (aggregate intrinsic value in thousands): Options Outstanding Shares Available for Grant Number of Options Weighted- Average Exercise Price Weighted- Average Contractual Term Aggregate Intrinsic Value Balances as of January 31, 2021 253,958 8,912,477 $ 6.42 6.49 $ 38,582 Additional shares reserved 5,604,548 — Options exercised — (759,081 ) $ 5.48 Options granted (1,948,563 ) 1,948,563 $ 22.49 Options cancelled 210,057 (210,057 ) $ 8.48 Balances as of July 31, 2021 4,120,000 9,891,902 $ 9.61 6.94 $ 203,235 Options vested and expected to vest as of July 31, 2021 9,891,902 $ 9.61 6.94 $ 203,235 Options vested and exercisable as of July 31, 2021 5,804,191 $ 5.93 5.51 $ 140,607 |
Summary of Fair Value of Employee Stock Options Estimated using Weighted-average Assumptions | The fair value of employee stock options was estimated using the following weighted-average assumptions: Three Months Ended July 31, Six Months Ended July 31, 2021 2020 2021 2020 Stock Option Plans: Expected term (in years) 6.1 6.1 6.1 6.1 Expected volatility 42.4 % 39.9 % 42.0 % 39.9 % Risk-free interest rate 1.0 % 0.4 % 1.0 % 0.4 % Dividend yield — — — — |
Summary of Stock-based Compensation Expense | Stock-based compensation expense was as follows (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2021 2020 2021 2020 Cost of revenue—subscription $ 30 $ 19 $ 57 $ 34 Cost of revenue—services 24 17 46 27 Research and development 569 394 1,139 640 Sales and marketing 688 412 1,229 676 General and administrative 670 524 1,339 830 Total stock-based compensation expense $ 1,981 $ 1,366 $ 3,810 $ 2,207 |
Geographic Information (Tables)
Geographic Information (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Segment Reporting [Abstract] | |
Schedule of Disaggregation of Revenue by Geographic Area | The following table depicts the disaggregation of revenue by geographic area based on the billing address of the customer (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2021 2020 2021 2020 United States $ 18,336 $ 16,149 $ 36,383 $ 31,366 International 11,363 9,011 21,271 16,839 Total $ 29,699 $ 25,160 $ 57,654 $ 48,205 |
Net Loss per Share (Tables)
Net Loss per Share (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Earnings Per Share [Abstract] | |
Schedule of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders | The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data): Three Months Ended July 31, Six Months Ended July 31, 2021 2020 2021 2020 Numerator Net loss $ (14,470 ) $ (8,838 ) $ (29,069 ) $ (20,188 ) Cumulative dividends on Series G redeemable convertible preferred stock (1,438 ) (1,150 ) (2,917 ) (1,150 ) Net loss attributable to common stockholders $ (15,908 ) $ (9,988 ) $ (31,986 ) $ (21,338 ) Denominator Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 9,045 5,662 7,696 5,660 Net loss per share attributable to common stockholders, basic and diluted $ (1.76 ) $ (1.76 ) $ (4.16 ) $ (3.77 ) |
Schedule of Potentially Dilutive Securities Were Excluded From The Computation of Diluted Net Loss Per Share | The following potentially dilutive securities were excluded from the computation of diluted net loss per share for the periods presented because the impact of including them would have been anti-dilutive (in thousands): As of July 31, 2021 2020 Stock options 9,909 9,194 Redeemable convertible preferred stock (on an if-converted basis) — 26,312 Common stock warrants 105 105 Total 10,014 35,611 |
Basis of Presentation and Sum_3
Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) $ / shares in Units, $ in Thousands | Jul. 26, 2021shares | Jul. 31, 2021USD ($)$ / sharesshares | Jul. 31, 2021USD ($)$ / sharesshares | Jul. 31, 2021USD ($)$ / sharesshares | Jan. 31, 2021USD ($) |
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||||
Proceeds from initial public offering, net of underwriting discounts and commissions | $ | $ 214,854 | ||||
Deferred offering costs | $ | $ 2,100 | $ 2,100 | $ 2,100 | $ 1,100 | |
Fiscal year end date | --01-31 | ||||
Common Stock | |||||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||||
Number of common stock for sale and issuance | 9,589,999 | 9,589,999 | |||
Proceeds from initial public offering, net of underwriting discounts and commissions | $ | $ 214,900 | ||||
Preferred stock converted into common stock | 26,710,600 | 26,710,600 | 26,710,600 | ||
Reverse stock split of outstanding common stock | 2.5 | ||||
Initial Public Offering | |||||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||||
Deferred offering costs | $ | $ 4,900 | $ 4,900 | $ 4,900 | ||
Initial Public Offering | Common Stock | |||||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||||
Number of common stock for sale and issuance | 9,589,999 | ||||
Common stock public offering price per share | $ / shares | $ 24 | $ 24 | $ 24 | ||
Preferred stock converted into common stock | 26,710,600 | ||||
Underwriters Option to Purchase Additional Shares | Common Stock | |||||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||||
Number of common stock for sale and issuance | 1,250,869 |
Cash Equivalents and Short-Te_3
Cash Equivalents and Short-Term Investments - Summary of Cash Equivalents and Short-term Investments (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Schedule Of Cash Cash Equivalents And Short Term Investments [Line Items] | ||
Cash Equivalents, Amortized Cost | $ 235,045 | $ 31,438 |
Cash Equivalents, Estimated Fair Value | 235,045 | 31,438 |
Short-Term Investments, Amortized Cost | 14,322 | 19,545 |
Short-Term Investments, Gross Unrealized Gains | 2 | |
Short-Term Investments, Gross Unrealized Losses | (1) | (1) |
Short-Term Investments, Estimated Fair Value | 14,321 | 19,546 |
Cash Equivalents and Short-Term Investments, Amortized Cost | 249,367 | 50,983 |
Cash Equivalents and Short-Term Investments, Estimated Fair Value | 249,366 | 50,984 |
Commercial Paper | ||
Schedule Of Cash Cash Equivalents And Short Term Investments [Line Items] | ||
Short-Term Investments, Amortized Cost | 8,095 | 12,290 |
Short-Term Investments, Estimated Fair Value | 8,095 | 12,290 |
Corporate Debt Securities | ||
Schedule Of Cash Cash Equivalents And Short Term Investments [Line Items] | ||
Short-Term Investments, Amortized Cost | 6,227 | 7,255 |
Short-Term Investments, Gross Unrealized Gains | 2 | |
Short-Term Investments, Gross Unrealized Losses | (1) | (1) |
Short-Term Investments, Estimated Fair Value | 6,226 | 7,256 |
Money Market Funds | ||
Schedule Of Cash Cash Equivalents And Short Term Investments [Line Items] | ||
Cash Equivalents, Amortized Cost | 235,045 | 31,438 |
Cash Equivalents, Estimated Fair Value | $ 235,045 | $ 31,438 |
Cash Equivalents and Short Term
Cash Equivalents and Short Term Investments - Additional Information (Details) | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jul. 31, 2021USD ($)Investment | Jul. 31, 2021USD ($)Investment | Jan. 31, 2021USD ($)Investment | |
Schedule Of Cash Cash Equivalents And Short Term Investments [Line Items] | |||
Accumulated other comprehensive income (loss) | $ 0 | $ 0 | $ 1,000 |
Number of short-term investments in unrealized loss position | Investment | 5 | 5 | 1 |
Short-term investments estimated fair value | $ 4,400,000 | $ 4,400,000 | $ 900,000 |
Other than temporary impairment losses investments | $ 0 | $ 0 | |
Maximum | |||
Schedule Of Cash Cash Equivalents And Short Term Investments [Line Items] | |||
Short term investments contractual maturity date | 1 year | 1 year |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value Hierarchy For Company's Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Short-Term Investments, Estimated Fair Value | $ 14,321 | $ 19,546 |
Fair Value, Measurements, Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total cash equivalents | 235,045 | 31,438 |
Short-Term Investments, Estimated Fair Value | 14,321 | 19,546 |
Total assets | 249,366 | 50,984 |
Fair Value, Measurements, Recurring | Commercial Paper | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Short-Term Investments, Estimated Fair Value | 8,095 | 12,290 |
Fair Value, Measurements, Recurring | Corporate Debt Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Short-Term Investments, Estimated Fair Value | 6,226 | 7,256 |
Fair Value, Measurements, Recurring | Level 1 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total cash equivalents | 235,045 | 31,438 |
Total assets | 235,045 | 31,438 |
Fair Value, Measurements, Recurring | Level 2 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Short-Term Investments, Estimated Fair Value | 14,321 | 19,546 |
Total assets | 14,321 | 19,546 |
Fair Value, Measurements, Recurring | Level 2 | Commercial Paper | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Short-Term Investments, Estimated Fair Value | 8,095 | 12,290 |
Fair Value, Measurements, Recurring | Level 2 | Corporate Debt Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Short-Term Investments, Estimated Fair Value | 6,226 | 7,256 |
Fair Value, Measurements, Recurring | Money Market Funds | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total cash equivalents | 235,045 | 31,438 |
Fair Value, Measurements, Recurring | Money Market Funds | Level 1 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total cash equivalents | $ 235,045 | $ 31,438 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jul. 31, 2021 | Jan. 31, 2021 | |
Fair Value Disclosures [Abstract] | ||
Fair value assets, Level 1 to Level 2 transfers, Amount | $ 0 | $ 0 |
Fair value, assets, Level 2 to Level 1 transfers, Amount | 0 | 0 |
Fair value, measurement with unobservable inputs reconciliation, recurring basis, asset transfers into Level 3 | 0 | 0 |
Fair value, measurement with unobservable inputs reconciliation, recurring Basis, asset, transfers out of Level 3 | $ 0 | $ 0 |
Balance Sheet Components - Sche
Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Balance Sheet Related Disclosures [Abstract] | ||
Prepaid expenses | $ 5,919 | $ 803 |
Prepaid software | 1,656 | 1,380 |
Other current assets | 524 | 266 |
Total prepaid expenses and other current assets | $ 8,099 | $ 2,449 |
Balance Sheet Components - Sc_2
Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Property Plant And Equipment [Line Items] | ||
Total gross property and equipment | $ 11,350 | $ 10,871 |
Accumulated depreciation and amortization | (5,772) | (4,365) |
Total property and equipment, net | 5,578 | 6,506 |
Computer Equipment | ||
Property Plant And Equipment [Line Items] | ||
Total gross property and equipment | 3,584 | 3,304 |
Furniture and Fixtures | ||
Property Plant And Equipment [Line Items] | ||
Total gross property and equipment | 412 | 408 |
Capitalized Internal-Use Software | ||
Property Plant And Equipment [Line Items] | ||
Total gross property and equipment | 5,772 | 5,772 |
Leasehold Improvements | ||
Property Plant And Equipment [Line Items] | ||
Total gross property and equipment | $ 1,582 | $ 1,387 |
Balance Sheet Components - Addi
Balance Sheet Components - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Balance Sheet Related Disclosures [Abstract] | ||||
Depreciation and amortization expense | $ 0.7 | $ 0.4 | $ 1.4 | $ 0.6 |
Balance Sheet Components - Sc_3
Balance Sheet Components - Schedule of Accrued Compensation and Benefits (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Balance Sheet Related Disclosures [Abstract] | ||
Accrued bonus | $ 4,182 | $ 4,149 |
Accrued commissions | 2,481 | 2,364 |
Accrued payroll and benefits | 2,357 | 2,597 |
Total accrued compensation and benefits | $ 9,020 | $ 9,110 |
Balance Sheet Components - Sc_4
Balance Sheet Components - Schedule of Other Accrued Liabilities (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Balance Sheet Related Disclosures [Abstract] | ||
Accrued professional fees | $ 1,384 | $ 1,925 |
Sales and value added tax payable | 106 | 415 |
Income taxes payable | 513 | 436 |
Accrued interest | 95 | |
Other | 1,572 | 1,283 |
Total other accrued liabilities | $ 3,575 | $ 4,154 |
Deferred Revenue and Remainin_3
Deferred Revenue and Remaining Performance Obligations - Schedule of Deferred Revenue Balances (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 | Jul. 31, 2020 | Jan. 31, 2020 |
Revenue From Contract With Customer [Abstract] | ||||
Deferred revenue | $ 48,980 | $ 57,168 | ||
Deferred revenue, noncurrent | 5,356 | 4,542 | ||
Total deferred revenue | $ 54,336 | $ 61,710 | $ 47,415 | $ 60,929 |
Deferred Revenue and Remainin_4
Deferred Revenue and Remaining Performance Obligations - Schedule of Changes In Deferred Revenue Balances (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 31, 2021 | Jul. 31, 2020 | |
Change In Contract With Customer, Liability [Roll Forward] | ||
Beginning balance | $ 61,710 | $ 60,929 |
Performance obligations satisfied during the period that were included in the deferred revenue balance at the beginning of the year | (38,813) | (39,997) |
Increases due to invoicing prior to satisfaction of performance obligations | 31,439 | 26,483 |
Ending balance | $ 54,336 | $ 47,415 |
Deferred Revenue and Remainin_5
Deferred Revenue and Remaining Performance Obligations - Additional Information (Details) $ in Millions | Jul. 31, 2021USD ($) |
Revenue From Contract With Customer [Abstract] | |
Remaining performance obligation | $ 118.9 |
Deferred Revenue and Remainin_6
Deferred Revenue and Remaining Performance Obligations - Additional Information (Details) 1 $ in Millions | Jul. 31, 2021USD ($) |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items] | |
Remaining performance obligation | $ 118.9 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-08-01 | |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items] | |
Remaining performance obligation | $ 74.1 |
Revenue expected to be recognized from remaining performance obligations, period | 12 months |
Debt - Schedule of Debt (Detail
Debt - Schedule of Debt (Details) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Debt Disclosure [Abstract] | ||
Principal outstanding | $ 25,000 | $ 25,000 |
Unamortized discount and debt issuance costs | (37) | (52) |
Long-term debt | $ 24,963 | $ 24,948 |
Debt - Additional Information (
Debt - Additional Information (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||||||||
Jun. 30, 2021 | Jan. 31, 2021 | Apr. 30, 2019 | Nov. 30, 2018 | Aug. 31, 2018 | Nov. 30, 2017 | Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | Jan. 31, 2020 | Dec. 31, 2019 | |
Debt Instrument [Line Items] | ||||||||||||
Interest expense, debt | $ 300,000 | $ 2,500,000 | $ 500,000 | $ 4,000,000 | ||||||||
Effective interest rate | 3.90% | 6.50% | 3.90% | 8.90% | ||||||||
Common Stock, par value | $ 0.00001 | $ 0.00001 | $ 0.00001 | |||||||||
Borrowings | $ 25,000,000 | $ 25,000,000 | $ 25,000,000 | |||||||||
Credit Facility | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of credit facility adjusted quick ratio | 1.15 | |||||||||||
Silicon Valley Bank | Credit Facility | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Maximum borrowing capacity | $ 10,000,000 | |||||||||||
Line of credit facility maturity date | Jan. 31, 2024 | Nov. 30, 2020 | Nov. 30, 2019 | Nov. 30, 2018 | ||||||||
Line of credit facility, interest rate description | Borrowings under the line of credit bear interest at a floating per annum rate equal to one half of one percentage point (0.50%) above the prime rate, which interest shall be payable monthly. | |||||||||||
Line of credit facility floating interest rate above prime rate | 0.50% | |||||||||||
Line of credit facility increase (decrease) | $ 40,000,000 | $ (10,000,000) | $ 15,000,000 | |||||||||
Line of credit facility current borrowing capacity | $ 0 | |||||||||||
Borrowed line of credit | $ 25,000,000 | |||||||||||
Fee payable on unused portion of line of credit | 0.25% | |||||||||||
Line of credit facility available for borrowing | $ 15,000,000 | |||||||||||
Silicon Valley Bank | Credit Facility | Prime Rate | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of credit variable annual interest rate | 0.50% | |||||||||||
Warrant | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Common Stock, par value | $ 7.48 | |||||||||||
Warrants exercisable period | 10 years | |||||||||||
Warrants aggregate percentage on borrowing amount | 2.25% | |||||||||||
Warrants issued to purchase common stock | 75,250 | 30,100 | ||||||||||
Borrowings | $ 25,000,000 | $ 10,000,000 | ||||||||||
Fair value of common stock | $ 400,000 | |||||||||||
Minimum | Silicon Valley Bank | Credit Facility | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of credit facility termination fee | 50.00% | |||||||||||
Maximum | Silicon Valley Bank | Credit Facility | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Line of credit facility termination fee | 100.00% | |||||||||||
Term Loan | Hercules Capital | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Effective interest rate | 3.75% | 10.75% | ||||||||||
Maximum borrowing capacity | $ 70,000,000 | $ 70,000,000 | $ 35,000,000 | |||||||||
Debt instrument, term | 3 years | |||||||||||
Debt instrument, maturity date | Sep. 30, 2021 | |||||||||||
Debt instrument, interest rate, increase (decrease) | (5.50%) | |||||||||||
Net of issuance costs | $ 14,700,000 | $ 34,800,000 | ||||||||||
Debt instrument, repayment date | Jun. 30, 2024 | May 31, 2023 | ||||||||||
Debt instrument payment | $ 25,000,000 | |||||||||||
Current borrowing capacity | 25,000,000 | |||||||||||
Prepayment penalty charges | 400,000 | $ 600,000 | ||||||||||
Prepayment end-of-term charges | $ 900,000 | 900,000 | ||||||||||
Loan outstanding amount paid including prepayment penalty and end of term charges | $ 25,000,000 | |||||||||||
Term Loan | Hercules Capital | Minimum | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Penalty ranging of prepaid principal amount percentage | 0.25% | |||||||||||
Term Loan | Hercules Capital | Maximum | ||||||||||||
Debt Instrument [Line Items] | ||||||||||||
Penalty ranging of prepaid principal amount percentage | 2.50% |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | Jan. 31, 2021 | |
Leases [Abstract] | |||||
Operating lease, rent expense | $ 700 | $ 700 | $ 1,300 | $ 1,400 | |
Operating lease expiration date | 2025-03 | ||||
Purchase commitment | 10,000 | $ 10,000 | |||
Purchase commitment, year one | 3,000 | 3,000 | |||
Purchase commitment, year two | 3,000 | 3,000 | |||
Purchase commitment, year three | 4,000 | 4,000 | |||
Indemnification liability | $ 0 | $ 0 | $ 0 |
Retirement Plan - Additional In
Retirement Plan - Additional Information (Details) - 401(K) [Member] - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Defined Contribution Plan Disclosure [Line Items] | ||||
Matching contributions | $ 100,000 | $ 200,000 | $ 200,000 | |
Maximum | ||||
Defined Contribution Plan Disclosure [Line Items] | ||||
Matching contributions | $ 100,000 |
Stockholders' Equity (Deficit_3
Stockholders' Equity (Deficit) and Employee Incentive Plans - Additional Information (Details) $ / shares in Units, $ in Millions | Jul. 26, 2021$ / sharesshares | Jul. 31, 2021USD ($)Participant$ / sharesshares | Jul. 31, 2021USD ($)Participant$ / sharesshares | Jul. 31, 2020USD ($)$ / shares | Sep. 21, 2021PurchasePeriod | Jul. 31, 2021USD ($)Participant$ / sharesshares | Jul. 31, 2020USD ($)$ / shares | Jan. 31, 2021USD ($)$ / sharesshares | Sep. 20, 2023PurchasePeriod |
Class Of Stock [Line Items] | |||||||||
Redeemable convertible preferred stock, shares issued | 0 | 0 | 0 | 26,070,213 | |||||
Redeemable convertible preferred stock, shares outstanding | 0 | 0 | 0 | 26,070,213 | |||||
Redeemable convertible preferred stock, shares authorized | 0 | 0 | 0 | 26,070,258 | |||||
Redeemable convertible preferred stock , par value | $ / shares | $ 0.00001 | $ 0.00001 | $ 0.00001 | $ 0.00001 | |||||
Common Stock, shares authorized | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | 43,200,000 | |||||
Common Stock, par value | $ / shares | $ 0.00001 | $ 0.00001 | $ 0.00001 | $ 0.00001 | |||||
Common Stock, shares issued | 43,282,941 | 43,282,941 | 43,282,941 | 6,199,305 | |||||
Common Stock, shares outstanding | 43,282,941 | 43,282,941 | 43,282,941 | 6,199,305 | |||||
Common stock, voting rights | Each share of common stock is entitled to one vote. | ||||||||
Share-based compensation granted | 1,948,563 | ||||||||
Share-based compensation available for grant | 4,120,000 | 4,120,000 | 4,120,000 | 253,958 | |||||
Number of shares reserved common stock for future issuance | 14,133,926 | 14,133,926 | 14,133,926 | ||||||
Option granted Weighted-average grant-date fair value | $ / shares | $ 11.31 | $ 2.99 | $ 9.30 | $ 2.99 | |||||
Aggregate intrinsic value of options exercised | $ | $ 10.6 | $ 14.4 | $ 0.1 | ||||||
Unrecognized stock-based compensation expense related to unvested stock options | $ | $ 22.4 | $ 22.4 | $ 22.4 | $ 8.7 | |||||
Stock-based compensation expected to be recognized weighted-average period | 2 years 9 months 18 days | 2 years 6 months | |||||||
Forecast | |||||||||
Class Of Stock [Line Items] | |||||||||
Initial offering period | The 2021 ESPP provides for 24-month offering periods beginning March 21 and September 21 of each year, and each offering period will consist of four six-month purchase periods. | The 2021 ESPP provides for 24-month offering periods beginning March 21 and September 21 of each year, and each offering period will consist of four six-month purchase periods. The initial offering period began on July 22, 2021 and will end on September 20, 2023. The initial offering shall consist of four purchase periods with the first purchase period ending on March 20, 2022, and the final purchase period ending on September 20, 2023. | |||||||
Initial offering period duration | 24 months | ||||||||
Initial offering number of purchase periods | PurchasePeriod | 4 | 4 | |||||||
Maximum | |||||||||
Class Of Stock [Line Items] | |||||||||
Aggregate intrinsic value of options exercised | $ | $ 0.1 | ||||||||
2021 Plan | |||||||||
Class Of Stock [Line Items] | |||||||||
Share-based compensation granted | 0 | ||||||||
Share-based compensation granted expiration period | 10 years | ||||||||
Share-based compensation vesting period | 4 years | ||||||||
Share-based compensation vesting rights | Options granted under the 2021 Plan expire ten years from the date of grant and generally vest over four years at a rate of 25% upon the first anniversary of the issuance date and 1/48 per month thereafter. | ||||||||
Share-based compensation available for grant | 4,100,000 | 4,100,000 | 4,100,000 | ||||||
Number of shares reserved common stock for future issuance | 4,120,000 | 4,120,000 | 4,120,000 | ||||||
Share-based compensation percentage of outstanding stock | 5.00% | ||||||||
Share-based compensation future issuance description | The 2021 Plan provides that the number of shares reserved will automatically increase on the first day of each fiscal year, beginning on February 1, 2022, by an amount equal to the least of (i) 4,120,000 shares, (ii) five-percent (5%) of the outstanding Shares of our common stock on the last day of the immediately preceding fiscal year, or (iii) such number of shares determined by the administrator of the 2021 Plan no later than the last day of the immediately preceding Fiscal Year. | ||||||||
2021 Plan | First Anniversary | |||||||||
Class Of Stock [Line Items] | |||||||||
Share-based compensation vesting rights percentage | 25.00% | ||||||||
Employee Stock Purchase Plan | |||||||||
Class Of Stock [Line Items] | |||||||||
Share-based compensation available for grant | 830,000 | 830,000 | 830,000 | ||||||
Maximum percentage of employees contribute of base compensation to purchase shares of common stock | 15.00% | ||||||||
Share base compensation to purchase shares of common stock price | 85.00% | ||||||||
Number of participant may purchase more than 1000 shares | Participant | 0 | 0 | 0 | ||||||
Number of common stock issued | 0 | ||||||||
Common Stock | |||||||||
Class Of Stock [Line Items] | |||||||||
Redeemable convertible preferred stock converted into shares of common stock | 26,710,600 | 26,710,600 | 26,710,600 | ||||||
Common Stock and Additional Paid-in-capital | |||||||||
Class Of Stock [Line Items] | |||||||||
Redeemable convertible preferred stock carrying amount | $ | $ 259.8 | $ 259.8 | $ 259.8 | ||||||
Initial Public Offering | |||||||||
Class Of Stock [Line Items] | |||||||||
Redeemable convertible preferred stock, shares authorized | 200,000,000 | ||||||||
Redeemable convertible preferred stock , par value | $ / shares | $ 0.00001 | ||||||||
Initial Public Offering | Series E | |||||||||
Class Of Stock [Line Items] | |||||||||
Additional redeemable convertible preferred stock converted into shares of common stock | 162,032 | ||||||||
Initial Public Offering | Series G | |||||||||
Class Of Stock [Line Items] | |||||||||
Additional redeemable convertible preferred stock converted into shares of common stock | 478,355 | ||||||||
Initial Public Offering | Common Stock | |||||||||
Class Of Stock [Line Items] | |||||||||
Redeemable convertible preferred stock converted into shares of common stock | 26,710,600 | ||||||||
Additional redeemable convertible preferred stock converted into shares of common stock | 640,387 |
Stockholders' Equity (Deficit_4
Stockholders' Equity (Deficit) and Employee Incentive Plans - Summary of Reserved Common Stock for Future Issuance (Details) | Jul. 31, 2021shares |
Class Of Stock [Line Items] | |
Number of shares reserved common stock for future issuance | 14,133,926 |
Warrant | |
Class Of Stock [Line Items] | |
Number of shares reserved common stock for future issuance | 105,350 |
Stock Options Outstanding | |
Class Of Stock [Line Items] | |
Number of shares reserved common stock for future issuance | 9,908,576 |
Reserved for Future Grant of Stock Options | |
Class Of Stock [Line Items] | |
Number of shares reserved common stock for future issuance | 4,120,000 |
Stockholders' Equity (Deficit_5
Stockholders' Equity (Deficit) and Employee Incentive Plans - Summary of Stock Option Activity and Activity Regarding Shares Available for Grant under Stock Plans (Details) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended |
Jul. 31, 2021USD ($)$ / sharesshares | Jan. 31, 2021USD ($)$ / sharesshares | |
Equity And Compensation Related Costs Share Based Payments [Abstract] | ||
Shares Available for Grant, Beginning balance | 253,958 | |
Additional shares reserved | 5,604,548 | |
Shares Available for Grant, Options granted | (1,948,563) | |
Shares Available for Grant, Options cancelled | 210,057 | |
Shares Available for Grant, Ending balance | 4,120,000 | 253,958 |
Number of Options Outstanding, Beginning balance | 8,912,477 | |
Number of Options exercised | (759,081) | |
Number of Options granted | 1,948,563 | |
Number of Options cancelled | (210,057) | |
Number of Options Outstanding Ending Balance | 9,891,902 | 8,912,477 |
Number of Options vested and expected to vest | 9,891,902 | |
Number of Options vested and exercisable as of July 31, 2021 | 5,804,191 | |
Weighted-Average Exercise Price Options Outstanding, Beginning balance | $ / shares | $ 6.42 | |
Weighted-Average Exercise Price Options exercised | $ / shares | 5.48 | |
Weighted-Average Exercise Price, Options granted | $ / shares | 22.49 | |
Weighted-Average Exercise Price Options cancelled | $ / shares | 8.48 | |
Weighted-Average Exercise Price Options Outstanding Ending Balance | $ / shares | 9.61 | $ 6.42 |
Weighted-Average Exercise Price Options vested and expected to vest | $ / shares | 9.61 | |
Weighted-Average Exercise Price Options vested and exercisable | $ / shares | $ 5.93 | |
Weighted-Average Contractual Term, Options balance | 6 years 11 months 8 days | 6 years 5 months 26 days |
Weighted-Average Contractual Term, Options vested and expected to vest | 6 years 11 months 8 days | |
Weighted-Average Contractual Term Options vested and exercisable | 5 years 6 months 3 days | |
Aggregate Intrinsic Value Options Outstanding, Beginning balance | $ | $ 203,235 | $ 38,582 |
Aggregate Intrinsic Value Options vested and expected to vest | $ | 203,235 | |
Aggregate Intrinsic Value Options vested and exercisable | $ | $ 140,607 |
Stockholders' Equity (Deficit_6
Stockholders' Equity (Deficit) and Employee Incentive Plans - Summary of Fair Value of Employee Stock Options Estimated using Weighted-average Assumptions (Details) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Equity And Compensation Related Costs Share Based Payments [Abstract] | ||||
Expected term (in years) | 6 years 1 month 6 days | 6 years 1 month 6 days | 6 years 1 month 6 days | 6 years 1 month 6 days |
Expected volatility | 42.40% | 39.90% | 42.00% | 39.90% |
Risk-free interest rate | 1.00% | 0.40% | 1.00% | 0.40% |
Stockholders' Equity (Deficit_7
Stockholders' Equity (Deficit) and Employee Incentive Plans - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Total stock-based compensation expense | $ 1,981 | $ 1,366 | $ 3,810 | $ 2,207 |
Research and Development | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Total stock-based compensation expense | 569 | 394 | 1,139 | 640 |
Sales and Marketing | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Total stock-based compensation expense | 688 | 412 | 1,229 | 676 |
General and Administrative | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Total stock-based compensation expense | 670 | 524 | 1,339 | 830 |
Cost of Revenue -Subscription | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Total stock-based compensation expense | 30 | 19 | 57 | 34 |
Cost of Revenue - Services | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Total stock-based compensation expense | $ 24 | $ 17 | $ 46 | $ 27 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Income Tax Disclosure [Abstract] | ||||
Income tax expense | $ 151 | $ 254 | $ 480 | $ 482 |
Geographic Information - Schedu
Geographic Information - Schedule of Disaggregation of Revenue by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Segment Reporting Information [Line Items] | ||||
Total revenue | $ 29,699 | $ 25,160 | $ 57,654 | $ 48,205 |
United States | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | 18,336 | 16,149 | 36,383 | 31,366 |
International | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | $ 11,363 | $ 9,011 | $ 21,271 | $ 16,839 |
Geographic Information - Additi
Geographic Information - Additional Information (Details) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Customer Concentration Risk | Revenue | No Individual Foreign Country | Maximum | ||||
Segment Reporting Information [Line Items] | ||||
Concentration risk, percentage | 10.00% | 10.00% | 10.00% | 10.00% |
Net Loss per Share - Schedule o
Net Loss per Share - Schedule of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Numerator | ||||
Net loss | $ (14,470) | $ (8,838) | $ (29,069) | $ (20,188) |
Cumulative dividends on Series G redeemable convertible preferred stock | (1,438) | (1,150) | (2,917) | (1,150) |
Net loss attributable to common stockholders | $ (15,908) | $ (9,988) | $ (31,986) | $ (21,338) |
Denominator | ||||
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted | 9,045 | 5,662 | 7,696 | 5,660 |
Net loss per share attributable to common stockholders, basic and diluted | $ (1.76) | $ (1.76) | $ (4.16) | $ (3.77) |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Potentially Dilutive Securities Were Excluded From The Computation of Diluted Net Loss Per Share (Details) - shares shares in Thousands | 6 Months Ended | |
Jul. 31, 2021 | Jul. 31, 2020 | |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||
Potentially dilutive securities were excluded from computation of diluted net loss per share | 10,014 | 35,611 |
Stock options | ||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||
Potentially dilutive securities were excluded from computation of diluted net loss per share | 9,909 | 9,194 |
Redeemable convertible preferred stock (on an if-converted basis) | ||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||
Potentially dilutive securities were excluded from computation of diluted net loss per share | 26,312 | |
Warrant | ||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||
Potentially dilutive securities were excluded from computation of diluted net loss per share | 105 | 105 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Details) $ in Millions | 1 Months Ended |
Sep. 10, 2021USD ($) | |
Subsequent Event | |
Subsequent Event [Line Items] | |
Repayments of revolving line of credit | $ 25 |