Cover
Cover - shares | 3 Months Ended | |
Apr. 30, 2024 | May 31, 2024 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Apr. 30, 2024 | |
Document Transition Report | false | |
Entity File Number | 001-40601 | |
Entity Registrant Name | Couchbase, Inc. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 26-3576987 | |
Entity Address, Street | 3250 Olcott Street | |
Entity Address, City | Santa Clara | |
Entity Address, State | CA | |
Entity Address, Postal Zip Code | 95054 | |
City Area Code | 650 | |
Local Phone Number | 417-7500 | |
Title of each class | Common stock, par value $0.00001 per share | |
Trading Symbol(s) | BASE | |
Name of each exchange on which registered | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 50,309,880 | |
Entity Central Index Key | 0001845022 | |
Current Fiscal Year End Date | --01-31 | |
Document Fiscal Year Focus | 2025 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 |
Current assets | ||
Cash and cash equivalents | $ 51,975 | $ 41,351 |
Short-term investments | 108,220 | 112,281 |
Accounts receivable, net | 34,580 | 44,848 |
Deferred commissions | 13,233 | 15,421 |
Prepaid expenses and other current assets | 10,307 | 10,385 |
Total current assets | 218,315 | 224,286 |
Property and equipment, net | 6,113 | 5,327 |
Operating lease right-of-use assets | 4,135 | 4,848 |
Deferred commissions, noncurrent | 12,562 | 11,400 |
Other assets | 1,446 | 1,891 |
Total assets | 242,571 | 247,752 |
Current liabilities | ||
Accounts payable | 4,071 | 4,865 |
Accrued compensation and benefits | 8,939 | 18,116 |
Other accrued expenses | 3,814 | 4,581 |
Operating lease liabilities | 3,106 | 3,208 |
Deferred revenue | 89,619 | 81,736 |
Total current liabilities | 109,549 | 112,506 |
Operating lease liabilities, noncurrent | 1,388 | 2,078 |
Deferred revenue, noncurrent | 2,572 | 2,747 |
Total liabilities | 113,509 | 117,331 |
Commitments and contingencies (Note 9) | ||
Stockholders’ equity | ||
Preferred stock, $0.00001 par value; 200,000,000 shares authorized as of April 30, 2024 and January 31, 2024; zero shares issued outstanding as of April 30, 2024 and January 31, 2024 | 0 | 0 |
Common stock, $0.00001 par value; 1,000,000,000 shares authorized as of April 30, 2024 and January 31, 2024; 50,220,260 and 49,079,876 shares issued and outstanding as of April 30, 2024 and January 31, 2024, respectively | 0 | 0 |
Additional paid-in capital | 640,931 | 621,024 |
Accumulated other comprehensive (loss) income | (215) | 56 |
Accumulated deficit | (511,654) | (490,659) |
Total stockholders’ equity | 129,062 | 130,421 |
Total liabilities and stockholders’ equity | $ 242,571 | $ 247,752 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares | Apr. 30, 2024 | Jan. 31, 2024 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value (in dollars per share) | $ 0.00001 | $ 0.00001 |
Preferred stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.00001 | $ 0.00001 |
Common stock, shares authorized (in shares) | 1,000,000,000 | 1,000,000,000 |
Common stock, shares outstanding (in shares) | 50,220,260 | 49,079,876 |
Common stock, shares issued (in shares) | 50,220,260 | 49,079,876 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Revenue: | ||
Total | $ 51,327 | $ 40,996 |
Cost of revenue: | ||
Total cost of revenue | 5,682 | 5,922 |
Gross profit | 45,645 | 35,074 |
Operating expenses: | ||
Research and development | 17,847 | 15,383 |
Sales and marketing | 37,755 | 32,553 |
General and administrative | 12,583 | 9,625 |
Restructuring | 0 | 46 |
Total operating expenses | 68,185 | 57,607 |
Loss from operations | (22,540) | (22,533) |
Interest expense | 0 | (25) |
Other income, net | 1,531 | 1,433 |
Loss before income taxes | (21,009) | (21,125) |
Provision (benefit) for income taxes | (14) | 750 |
Net loss | (20,995) | (21,875) |
Net loss | $ (20,995) | $ (21,875) |
Net loss per share, basic (in dollars per share) | $ (0.42) | $ (0.48) |
Net loss per share, diluted (in dollars per share) | $ (0.42) | $ (0.48) |
Weighted-average shares used in computing net loss per share, basic (in shares) | 49,788 | 45,843 |
Weighted-average shares used in computing net loss per share, diluted (in shares) | 49,788 | 45,843 |
Subscription | ||
Revenue: | ||
Total | $ 49,038 | $ 38,542 |
Cost of revenue: | ||
Total cost of revenue | 3,957 | 3,673 |
Services | ||
Revenue: | ||
Total | 2,289 | 2,454 |
Cost of revenue: | ||
Total cost of revenue | 1,725 | 2,249 |
License | Subscription | ||
Revenue: | ||
Total | 6,859 | 4,943 |
Support and other | Subscription | ||
Revenue: | ||
Total | $ 42,179 | $ 33,599 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Statement of Comprehensive Income [Abstract] | ||
Net loss | $ (20,995) | $ (21,875) |
Other comprehensive loss: | ||
Net unrealized (losses) gains on investments, net of tax | (271) | 317 |
Total comprehensive loss | $ (21,266) | $ (21,558) |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-In Capital | Accumulated Other Comprehensive Income (Loss) | Accumulated Deficit |
Beginning balance at Jan. 31, 2023 | $ 150,264 | $ 0 | $ 561,547 | $ (807) | $ (410,476) |
Beginning balance (in shares) at Jan. 31, 2023 | 45,432,029 | ||||
Increase (Decrease) in Stockholders' Equity | |||||
Issuance of common stock upon exercise of stock options | 1,917 | 1,917 | |||
Issuance of common stock upon exercise of stock options (in shares) | 389,377 | ||||
Issuance of common stock in connection with employee stock purchase plan | 847 | 847 | |||
Issuance of common stock in connection with employee stock purchase plan (in shares) | 74,113 | ||||
Vesting of restricted stock units (in shares) | 259,980 | ||||
Stock-based compensation | 9,480 | 9,480 | |||
Net unrealized gains (losses) on investments | 317 | 317 | |||
Net loss | (21,875) | (21,875) | |||
Ending balance at Apr. 30, 2023 | 140,950 | $ 0 | 573,791 | (490) | (432,351) |
Ending balance (in shares) at Apr. 30, 2023 | 46,155,499 | ||||
Beginning balance at Jan. 31, 2024 | $ 130,421 | $ 0 | 621,024 | 56 | (490,659) |
Beginning balance (in shares) at Jan. 31, 2024 | 49,079,876 | 49,079,876 | |||
Increase (Decrease) in Stockholders' Equity | |||||
Issuance of common stock upon exercise of stock options | $ 3,294 | 3,294 | |||
Issuance of common stock upon exercise of stock options (in shares) | 406,055 | ||||
Issuance of common stock in connection with employee stock purchase plan | 1,795 | 1,795 | |||
Issuance of common stock in connection with employee stock purchase plan (in shares) | 123,778 | ||||
Vesting of restricted stock units (in shares) | 610,551 | ||||
Stock-based compensation | 14,818 | 14,818 | |||
Net unrealized gains (losses) on investments | (271) | (271) | |||
Net loss | (20,995) | (20,995) | |||
Ending balance at Apr. 30, 2024 | $ 129,062 | $ 0 | $ 640,931 | $ (215) | $ (511,654) |
Ending balance (in shares) at Apr. 30, 2024 | 50,220,260 | 50,220,260 |
CONDENSED CONSOLIDATED STATEM_4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Cash flows from operating activities | ||
Net loss | $ (20,995) | $ (21,875) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation and amortization | 400 | 890 |
Stock-based compensation, net of amounts capitalized | 14,627 | 9,276 |
Amortization of deferred commissions | 4,096 | 4,540 |
Non-cash lease expense | 765 | 772 |
Foreign currency transaction losses (gains) | 283 | (84) |
Other | (824) | (746) |
Changes in operating assets and liabilities | ||
Accounts receivable | 10,165 | (2,274) |
Deferred commissions | (3,070) | (4,824) |
Prepaid expenses and other assets | 31 | 1,405 |
Accounts payable | (792) | 5,458 |
Accrued compensation and benefits | (9,179) | (4,060) |
Other accrued expenses | (813) | (1,256) |
Operating lease liabilities | (843) | (826) |
Deferred revenue | 7,708 | 6,423 |
Net cash provided by (used in) operating activities | 1,559 | (7,181) |
Cash flows from investing activities | ||
Purchases of short-term investments | (19,454) | (7,821) |
Maturities and sales of short-term investments | 24,144 | 19,423 |
Additions to property and equipment | (995) | (1,288) |
Net cash provided by investing activities | 3,695 | 10,314 |
Cash flows from financing activities | ||
Proceeds from exercise of stock options | 3,294 | 1,917 |
Proceeds from issuance of common stock under ESPP | 1,795 | 847 |
Net cash provided by financing activities | 5,089 | 2,764 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (262) | (103) |
Net increase in cash, cash equivalents and restricted cash | 10,081 | 5,794 |
Cash, cash equivalents and restricted cash | ||
Beginning of period | 41,894 | 40,989 |
End of period | 51,975 | 46,783 |
Cash and cash equivalents | 51,975 | 46,240 |
Restricted cash included in other assets | 0 | 543 |
Total cash, cash equivalents and restricted cash | 51,975 | 46,783 |
Supplemental disclosures of cash activities | ||
Cash paid for income taxes | 591 | 294 |
Cash paid for interest | 0 | 25 |
Non-cash investing and financing activities: | ||
Stock-based compensation capitalized as internal-use software costs | 191 | 204 |
Net change in unrealized gains or losses on available-for-sale debt securities | $ (271) | $ 317 |
Description of Business
Description of Business | 3 Months Ended |
Apr. 30, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business | Description of Business Couchbase, Inc. provides a leading cloud database platform for modern applications. 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 | 3 Months Ended |
Apr. 30, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation and Summary of Significant Accounting Policies | 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 conformity 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, 2024, 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 months ended April 30, 2024, are not necessarily indicative of the results to be expected for the year ending January 31, 2025, 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 contained in the Company ’ s Annual Report on Form 10-K for the year ended January 31, 2024, as filed with the SEC on March 26, 2024. 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 consolidated financial statements include the accounts of Couchbase, Inc. and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. 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, but are not limited to, standalone selling prices for each distinct performance obligation, capitalized internal-use software costs, expected period of benefit for deferred commissions, valuation of stock-based awards, the determination of allowance for credit losses, the incremental borrowing rate used to measure operating lease liabilities, 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 macroeconomic conditions such as inflation and foreign exchange fluctuations, 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. Significant Accounting Policies There have been no material changes to the Company's significant accounting policies described in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2024, that have had a material impact on its condensed consolidated financial statements and related notes. Deferred Commissions The Company capitalizes certain sales commissions, including related payroll taxes, earned by the Company’s sales force, which are considered to be incremental costs that would not be incurred absent of the contract. On an annual basis, the Company assesses the expected period of benefit by taking into consideration its customer contracts, its technology and duration of customer relationships. Based on our most recent assessment, the Company determined the expected period of benefit for incremental costs of customer contracts should be increased from three Concentration of Credit Risk Financial instruments that potentially subject the Company to credit risk primarily consist of cash, cash equivalents, restricted cash, short-term investments and accounts receivable. The Company maintains its cash and cash equivalents, restricted cash and short-term investments with high-quality financial institutions. Cash equivalents consist of money market funds which are invested through financial institutions in the United States ( “ U.S. ” ). Deposits, including those held in foreign branches of global banks, may exceed the amount of insurance provided on such deposits. The Company has not experienced any losses on these deposits. For its accounts receivable, the Company is exposed to credit risk in the event of nonpayment by customers to the extent of the amounts recorded on the consolidated balance sheet. Generally, credit risk with respect to accounts receivable is diversified due to the number of entities comprising the Company’s customer base and their dispersion across different geographies and industries. The Company performs ongoing credit evaluations on certain customers and generally does not require collateral on accounts receivable. The Company maintains an allowance for credit losses and historically bad debts have not been material. No customer accounted for 10% or more of total revenue for the three months ended April 30, 2024 and 2023. Two customers accounted for approximately 16% and 13% of gross accounts receivable as of April 30, 2024, respectively. No customer accounted for 10% or more of gross accounts receivable as of January 31, 2024. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements There were 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 Annual Report. Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which is intended to improve reportable segment disclosure requirements. ASU 2023-07 expands segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. Additionally, the amendments require disclosure of the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. All disclosure requirements of ASU 2023-07 are required for all entities including entities with a single reportable segment. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is in the process of evaluating the impact of the adoption on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires companies to disclose additional information about income taxes, primarily their rate reconciliation information and income taxes paid. The new guidance requires companies to disclose in their rate reconciliation table additional categories of information about federal, state and foreign income taxes and to provide more details about the reconciling items in some categories if the items meet a quantitative threshold. Additionally companies will be required to disclose annually income taxes paid (net of refunds received) disaggregated by federal (national), state and foreign taxes and to disaggregate the information by jurisdiction based on a quantitative threshold. The guidance is effective for the Company for the fiscal year ending January 31, 2026, and early adoption is permitted. The Company is currently evaluating the impact of ASU 2023-09 on its consolidated financial statements and related disclosures. Under the Jumpstart Our Business Startups Act (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. |
Cash Equivalents and Short-Term
Cash Equivalents and Short-Term Investments | 3 Months Ended |
Apr. 30, 2024 | |
Cash, Cash Equivalents, and Short-Term Investments [Abstract] | |
Cash Equivalents and Short-Term Investments | Cash Equivalents and Short-Term Investments The following tables summarize the Company’s cash equivalents and short-term investments (in thousands): As of April 30, 2024 Amortized Gross Gross Estimated Cash Equivalents Money market funds $ 37,117 $ — $ — $ 37,117 Total cash equivalents 37,117 — — 37,117 Short-Term Investments U.S. government treasury securities 83,723 1 (157) 83,567 Corporate debt securities 13,804 2 (49) 13,757 U.S. government agency securities 5,999 — (12) 5,987 Commercial paper 4,909 — — 4,909 Total short-term investments 108,435 3 (218) 108,220 Total $ 145,552 $ 3 $ (218) $ 145,337 As of January 31, 2024 Amortized Gross Gross Estimated Cash Equivalents Money market funds $ 32,895 $ — $ — $ 32,895 Total cash equivalents 32,895 — — 32,895 Short-Term Investments U.S. government treasury securities 85,525 58 (7) 85,576 Corporate debt securities 13,712 14 (1) 13,725 U.S. government agency securities 7,999 — (8) 7,991 Commercial paper 4,845 — — 4,845 Asset-backed securities 144 — — 144 Total short-term investments 112,225 72 (16) 112,281 Total $ 145,120 $ 72 $ (16) $ 145,176 During the three months ended April 30, 2024 and 2023, 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 April 30, 2024, the Company’s short-term investments consisted of $88.8 million and $19.4 million with a contractual maturity date of less than one year and greater than one year, respectively. As of January 31, 2024, the Company’s short-term investments consisted of $97.6 million and $14.7 million with a contractual maturity of less than one year and greater than one year, respectively. The Company’s gross unrealized losses and fair values for short-term investments that were in an unrealized loss position as of April 30, 2024 and January 31, 2024 aggregated by investment category and the length of time that individual securities have been in a continuous loss position were as follows (in thousands): As of April 30, 2024 Less Than 12 Months 12 Months or Greater Total Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value U.S. government treasury securities $ (157) $ 77,620 $ — $ — $ (157) $ 77,620 U.S. government agency securities (12) 5,987 — — (12) 5,987 Corporate debt securities (49) 9,826 — — (49) 9,826 Total $ (218) $ 93,433 $ — $ — $ (218) $ 93,433 As of January 31, 2024 Less Than 12 Months 12 Months or Greater Total Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value U.S. government treasury securities $ (7) $ 22,746 $ — $ — $ (7) $ 22,746 U.S. government agency securities (8) 7,991 — — (8) 7,991 Corporate debt securities (1) 5,008 — — (1) 5,008 Asset-backed securities — — — 144 — 144 Total $ (16) $ 35,745 $ — $ 144 $ (16) $ 35,889 As of April 30, 2024, the Company had 19 short-term investments in an unrealized loss position. As of January 31, 2024, the Company had 13 short-term investments in an unrealized loss position. As of April 30, 2024, the Company determined that the declines in the market value of its investment portfolio were not driven by credit related factors. During the three months ended April 30, 2024, there were no credit or non-credit related impairment charges recorded by the Company. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Apr. 30, 2024 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 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 following tables present the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis (in thousands): As of April 30, 2024 Level 1 Level 2 Total Cash Equivalents Money market funds $ 37,117 $ — $ 37,117 Total cash equivalents 37,117 — 37,117 Short-Term Investments U.S. government treasury securities — 83,567 83,567 Corporate debt securities — 13,757 13,757 U.S. government agency securities — 5,987 5,987 Commercial paper — 4,909 4,909 Total short-term investments — 108,220 108,220 Total $ 37,117 $ 108,220 $ 145,337 As of January 31, 2024 Level 1 Level 2 Total Cash Equivalents Money market funds $ 32,895 $ — $ 32,895 Total cash equivalents 32,895 — 32,895 Short-Term Investments U.S. government treasury securities — 85,576 85,576 Corporate debt securities — 13,725 13,725 U.S. government agency securities — 7,991 7,991 Commercial paper — 4,845 4,845 Asset-backed securities — 144 144 Total short-term investments — 112,281 112,281 Total $ 32,895 $ 112,281 $ 145,176 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 U.S. government agency securities, asset-backed securities, commercial paper, U.S. government treasury securities, and corporate debt securities within Level 2 because they are valued using inputs other than quoted prices which are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security which may not be actively traded. |
Balance Sheet Components
Balance Sheet Components | 3 Months Ended |
Apr. 30, 2024 | |
Balance Sheet Related Disclosures [Abstract] | |
Balance Sheet Components | Balance Sheet Components Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following (in thousands): As of April 30, As of January 31, 2024 2024 Prepaid expenses $ 4,720 $ 4,793 Prepaid software 4,390 4,429 Other current assets 1,197 1,163 Total prepaid expenses and other current assets $ 10,307 $ 10,385 Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): As of April 30, As of January 31, 2024 2024 Computer equipment $ 3,744 $ 3,736 Furniture and fixtures 418 418 Capitalized internal-use software 8,743 8,743 Leasehold improvements 1,903 1,903 Construction in progress—capitalized internal-use software 3,749 2,571 Total gross property and equipment 18,557 17,371 Accumulated depreciation and amortization (12,444) (12,044) Total property and equipment, net $ 6,113 $ 5,327 Depreciation and amortization expense was $0.4 million and $0.9 million for three months ended April 30, 2024 and 2023, respectively. Included in these amounts were the amortization of capitalized internal-use software development costs of $0.2 million and $0.7 million in the three months ended April 30, 2024 and 2023, respectively. Accrued Compensation and Benefits Accrued compensation and benefits consisted of the following (in thousands): As of April 30, As of January 31, 2024 2024 Accrued bonus $ 2,784 $ 7,056 Accrued commissions 2,150 4,852 Accrued payroll and benefits 3,304 4,690 Employee contributions under the ESPP 701 1,518 Total accrued compensation and benefits $ 8,939 $ 18,116 Other Accrued Liabilities Other accrued liabilities consisted of the following (in thousands): As of April 30, As of January 31, 2024 2024 Accrued professional fees $ 937 $ 1,190 Sales and value added tax payable 287 517 Income taxes payable 137 173 Other 2,453 2,701 Total other accrued liabilities $ 3,814 $ 4,581 |
Deferred Revenue and Remaining
Deferred Revenue and Remaining Performance Obligations | 3 Months Ended |
Apr. 30, 2024 | |
Revenue from Contract with Customer [Abstract] | |
Deferred Revenue and Remaining Performance Obligations | Deferred Revenue and Remaining Performance Obligations The following table presents the deferred revenue balances (in thousands): As of April 30, As of January 31, 2024 2024 Deferred revenue, current $ 89,619 $ 81,736 Deferred revenue, noncurrent 2,572 2,747 Total deferred revenue $ 92,191 $ 84,483 Changes in the deferred revenue balances during the three months ended April 30, 2024 and 2023 were as follows (in thousands): Three Months Ended April 30, 2024 2023 Beginning balance $ 84,483 $ 74,991 Performance obligations satisfied during the period that were included in the deferred revenue balance at the beginning of the year (34,359) (29,061) Increases due to invoicing prior to satisfaction of performance obligations 42,067 35,484 Ending balance $ 92,191 $ 81,414 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 April 30, 2024, the Company’s RPOs were $220.0 million. The Company expects to recognize revenue of $137.0 million of these remaining performance obligations over the next twelve months with the remaining balances recognized thereafter. |
Debt
Debt | 3 Months Ended |
Apr. 30, 2024 | |
Debt Disclosure [Abstract] | |
Debt | Debt Loan and Security Agreement On February 7, 2024, the Company entered into a loan and security agreement with MUFG Bank, Ltd., as lender, for a three-year senior secured revolving loan facility of up to $25.0 million, including a letter of credit sublimit of up to $5.0 million, with an original maturity date on February 7, 2027 and a uncommitted accordion feature that provides up to $25.0 million of additional borrowing capacity (the “Credit Facility”). Borrowings under the Credit Facility accrue interest at a floating per annum rate based on secured overnight financing rate ("SOFR"), plus 3.0% for the applicable interest rate period. Accrued interest on the Credit Facility will be paid at the end of the applicable interest rate period, but at least every three months. The Company is also obligated to pay other customary fees and expenses, including an unused revolving line facility fee of 0.25% per annum of the average daily unused portion of the Credit Facility. Under the Credit Facility, the Company is subject to a minimum consolidated adjusted EBITDA covenant, tested quarterly. The Credit Facility also contains certain customary affirmative and negative covenants as well as customary events of default, subject to certain exceptions, including restrictions on the ability of the Company and its subsidiaries to, among other things, incur debt, grant liens, make acquisitions, suffer changes in control, make investments, make certain dividends or distributions, repurchase or redeem stock, dispose of or transfer assets, and enter into transactions with affiliates, in each case, subject to customary and other agreed limitations and exceptions. To date, the Company has an outstanding letter of credit of $0.5 million against the $5.0 million sublimit in connection with a lease arrangement. The Company did not have any debt outstanding under the Credit Facility as of April 30, 2024 and was in compliance with the financial covenants associated with the Credit Facility as of April 30, 2024 . |
Leases
Leases | 3 Months Ended |
Apr. 30, 2024 | |
Leases [Abstract] | |
Leases | Leases The Company leases facilities under non-cancelable operating leases, primarily for rent of office space. The Company's leases have various expiration dates through November 2027, some of which include options to extend the leases for up to three years. The Company does not have any finance leases. The components of lease costs were as follows (in thousands): Three Months Ended April 30, 2024 2023 Operating lease costs $ 765 $ 772 Variable lease costs $ 157 $ 146 Short-term lease costs were immaterial during the three months ended April 30, 2024 and 2023. The following table presents supplemental cash flow information related to leases (in thousands): Three Months Ended April 30, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 843 $ 823 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ — $ — The following table presents supplemental balance sheet information related to operating leases (in thousands, except for lease term and discount rate): April 30, 2024 January 31, 2024 Operating lease right-of-use assets $ 4,135 $ 4,848 Operating lease liabilities $ 3,106 $ 3,208 Operating lease liabilities, noncurrent 1,388 2,078 Total operating lease liabilities $ 4,494 $ 5,286 Weighted-average remaining lease term 1.8 years 2.0 years Weighted-average discount rate 4.4 % 4.4 % As of April 30, 2024, remaining maturities of operating lease liabilities were as follows (in thousands): Period Operating Leases Remaining for Fiscal 2025 $ 2,514 Fiscal 2026 1,481 Fiscal 2027 437 Fiscal 2028 245 Fiscal 2029 and thereafter — Total lease payments 4,677 Less: imputed interest (183) Total $ 4,494 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Apr. 30, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Other Contractual Commitments Other contractual commitments relate to third-party cloud infrastructure agreements and subscription arrangements. There were no material contractual commitments that were entered into during the three months ended April 30, 2024 that were outside the ordinary course of business. 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. The Company is not currently a party to any legal proceedings that, if determined adversely to it, would, in management’s opinion, have a material and adverse effect on the Company’s financial condition, results of operations, or cash flows. Indemnification Agreements In the ordinary course of business, the Company enters into agreements of varying scope and terms pursuant to which the Company agrees to indemnify customers, vendors, lessors and other business partners with respect to certain matters, including, but not limited to, losses arising out of the breach of such agreements, services to be provided by the Company or from intellectual property infringement claims made by third parties. Additionally, the Company entered into indemnification agreements with the Company’s directors and officers that require the Company, among other things, to indemnify them against certain liabilities that may arise from their services as a director or executive officer in any capacity as the Company's director, trustee, general partner, managing member, officer, employee, agent or fiduciary or with respect to any employee benefit plans. The Company has not incurred material costs to defend lawsuits or settle claims related to these indemnification agreements nor are we aware of any such claims that could reasonably be expected to incur material costs. |
Stockholders_ Equity and Employ
Stockholders’ Equity and Employee Incentive Plans | 3 Months Ended |
Apr. 30, 2024 | |
Equity And Compensation Related Costs Share Based Payments [Abstract] | |
Stockholders’ Equity and Employee Incentive Plans | Stockholders’ Equity and Employee Incentive Plans Redeemable Convertible Preferred Stock As of April 30, 2024, there were no shares of redeemable convertible preferred stock issued and outstanding. The Company’s Amended and Restated Certificate of Incorporation authorizes 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 shares of common stock at a par value of $0.00001 as of April 30, 2024 and January 31, 2024. 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 April 30, 2024 and January 31, 2024, no dividends had been declared. As of April 30, 2024, the Company has reserved common stock for future issuance as follows: Number of Shares Stock options outstanding 5,465,173 Restricted stock units issued and outstanding 5,930,054 Remaining shares available for issuance under the 2021 Plan 3,565,156 Shares available for issuance under the 2023 Inducement Plan 955,779 ESPP 1,606,656 Common stock warrants 105,350 Total 17,628,168 Common Stock Warrants In April, 2019, the Company issued warrants in connection with a term loan agreement with a certain lender to purchase 105,350 shares of the Company’s common stock at $7.48 per share, exercisable over 10 years. As of April 30, 2024, all warrants were outstanding and exercisable. Stock Options The following table summarizes stock option activity under the Stock Plans for the three months ended April 30, 2024 (aggregate intrinsic value in thousands): Options Outstanding Weighted- Aggregate Number of Weighted- Balances as of January 31, 2024 5,889,938 $ 10.38 4.84 $ 86,742 Options exercised (406,055) $ 8.11 Options cancelled (18,710) $ 24.78 Balances as of April 30, 2024 5,465,173 $ 10.50 4.55 $ 75,355 Options vested and expected to vest as of April 30, 2024 5,465,173 $ 10.50 4.55 $ 75,355 Options vested and exercisable as of April 30, 2024 5,152,472 $ 9.80 4.41 $ 74,479 No stock options were granted during the three months ended April 30, 2024 and 2023. The aggregate intrinsic value of options exercised during the three months ended April 30, 2024 and 2023 was $8.1 million and $4.2 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 Company recognized stock-based compensation expense related to stock options of $0.9 million and $1.2 million during the three months ended April 30, 2024 and 2023, respectively. As of April 30, 2024, there was $2.6 million of unrecognized stock-based compensation expense related to unvested stock options, which is expected to be recognized over a weighted-average period of 0.8 years. Service-Based RSUs During the year ended January 31, 2022, the Company began granting RSUs to its employees which have service-based vesting conditions. The service-based vesting condition for these awards is generally satisfied by rendering continuous service over two The following table is a summary of service-based RSU activity for the three months ended April 30, 2024: RSUs Outstanding Number of RSUs Weighted Average Grant Date Fair Value Per Share Balances as of January 31, 2024 3,909,920 $ 17.56 RSUs granted 1,743,216 $ 27.48 RSUs vested (531,351) $ 17.32 RSUs forfeited (137,331) $ 18.93 Balances as of April 30, 2024 4,984,454 $ 21.02 The aggregate fair value of the RSU awards granted was $47.9 million and $39.3 million during the three months ended April 30, 2024 and 2023, respectively. This represents the fair value of the common stock on the date the service-based vesting awards were granted. We recognized $11.6 million and $6.8 million in stock-based compensation expense related to service vesting-based RSUs during the three months ended April 30, 2024 and 2023, respectively. As of April 30, 2024, there was $93.6 million of unrecognized compensation expense related to service-based RSUs expected to be recognized over a weighted-average vesting period of 1.8 years. Performance-based and Market-based Awards Performance-based Awards We recognized a total of $1.3 million and $0.7 million in stock-based compensation expense related to PSUs during the three months ended April 30, 2024 and 2023, respectively. As of April 30, 2024, there were 840,000 awards outstanding and a total of $4.7 million of unrecognized compensation expense related to PSUs expected to be recognized over an average vesting period of 1.4 years. Market-based Awards The Company recognized a total of $0.3 million and $0.2 million in stock-based compensation expense related to market-based awards during the three months ended April 30, 2024 and 2023, respectively. There were 79,200 awards vested during the three months ended April 30, 2024. As of April 30, 2024, there were 105,600 awards outstanding and a total of $0.5 million of unrecognized compensation expense related to market-based RSUs expected to be recognized over an average vesting period of 0.9 years. Determination of Fair Value The Company estimates the fair value of purchase rights issued to employees under the ESPP using the Black-Scholes option-pricing model, which is dependent upon several variables, such as the fair value of the Company’s common stock, the expected option term, expected volatility of the Company’s stock price over the expected term, expected risk-free interest rate over the expected option term, and expected dividend yield. The fair value of employee stock purchase rights for the offering period under the 2021 ESPP was determined on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: Three Months Ended April 30, 2024 2023 Employee Stock Purchase Plan: Expected term (in years) 1.2 0.8 Expected volatility 60.1 % 66.9 % Risk-free interest rate 5.0 % 4.8 % Dividend yield — — The Company recognized stock-based compensation expense related to the ESPP of $0.6 million and $0.3 million during the three months ended April 30, 2024 and 2023, respectively. As of April 30, 2024, $2.4 million of unrecognized stock-based compensation expense related to the ESPP is expected to be recognized over a weighted-average vesting period of 1.0 year. During the three months ended April 30, 2024, 123,778 shares of common stock were issued under the ESPP. Stock-Based Compensation Stock-based compensation expense, net of amounts capitalized was as follows (in thousands): Three Months Ended April 30, 2024 2023 Cost of revenue—subscription $ 266 $ 193 Cost of revenue—services 141 145 Research and development 3,993 2,768 Sales and marketing 5,223 3,241 General and administrative 5,004 2,928 Restructuring — 1 Total stock-based compensation expense $ 14,627 $ 9,276 |
Income Taxes
Income Taxes | 3 Months Ended |
Apr. 30, 2024 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 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 an immaterial amount of income tax expense for the three months ended April 30, 2024 and $0.8 million for the three months ended April 30, 2023, 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 U.S., a full valuation allowance on the Company’s domestic 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 Company has deferred tax attributes for stock-based compensation and fixed assets in the United Kingdom, and has not recorded a valuation allowance on the deferred tax attributes as of April 30, 2024. The Company will continue to evaluate for any future developments. |
Geographic Information
Geographic Information | 3 Months Ended |
Apr. 30, 2024 | |
Segment Reporting [Abstract] | |
Geographic Information | Geographic Information The following table depicts the disaggregation of revenue by geographic area based on the billing address of the customers (in thousands): Three Months Ended April 30, 2024 2023 United States $ 34,682 $ 25,991 International 16,645 15,005 Total $ 51,327 $ 40,996 No individual foreign country contributed 10% or more of total revenue for the three months ended April 30, 2024 and 2023. As of April 30, 2024 and January 31, 2024, the majority of the Company’s long-lived assets, including operating lease ROU assets, were located in the United States. |
Net Loss per Share
Net Loss per Share | 3 Months Ended |
Apr. 30, 2024 | |
Earnings Per Share [Abstract] | |
Net Loss per Share | 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 April 30, 2024 2023 Numerator Net loss $ (20,995) $ (21,875) Denominator Weighted-average shares used in computing net loss per share, basic and diluted 49,788 45,843 Net loss per share, basic and diluted $ (0.42) $ (0.48) 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 April 30, 2024 2023 Stock options 5,465 7,388 RSUs 5,886 6,983 Employee stock purchase rights under the ESPP 141 118 Common stock warrants 105 105 Total 11,597 14,594 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Pay vs Performance Disclosure | ||
Net loss | $ (20,995) | $ (21,875) |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Apr. 30, 2024 shares | |
Trading Arrangements, by Individual | |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Jeff Epstein [Member] | |
Trading Arrangements, by Individual | |
Material Terms of Trading Arrangement | On March 11, 2024 during our last fiscal quarter, Jeff Epstein, a member of our board of directors adopted a “Rule 10b5-1 trading arrangement” as defined in Regulation S-K Item 408. The trading arrangement provides for the sale from time to time of an aggregate of up to 121,623 shares of our common stock. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The duration of the trading arrangement is until June 7, 2025, or earlier if all transactions under the trading arrangement are completed. |
Name | Jeff Epstein |
Title | member of our board of directors |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | March 11, 2024 |
Arrangement Duration | 453 days |
Aggregate Available | 121,623 |
Carol Carpenter [Member] | |
Trading Arrangements, by Individual | |
Material Terms of Trading Arrangement | On April 8, 2024 during our last fiscal quarter, Carol Carpenter, a member of our board of directors adopted a “Rule 10b5-1 trading arrangement” as defined in Regulation S-K Item 408. The trading arrangement provides for the sale from time to time of an aggregate of up to 10,800 shares of our common stock. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The duration of the trading arrangement is until July 30, 2025, or earlier if all transactions under the trading arrangement are completed. |
Name | Carol Carpenter |
Title | board of directors |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | April 8, 2024 |
Arrangement Duration | 482 days |
Aggregate Available | 10,800 |
Basis of Presentation and Sum_2
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Apr. 30, 2024 | |
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 conformity 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, 2024, 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 months ended April 30, 2024, are not necessarily indicative of the results to be expected for the year ending January 31, 2025, 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 contained in the Company ’ s Annual Report on Form 10-K for the year ended January 31, 2024, as filed with the SEC on March 26, 2024. |
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 consolidated financial statements include the accounts of Couchbase, Inc. and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. |
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, but are not limited to, standalone selling prices for each distinct performance obligation, capitalized internal-use software costs, expected period of benefit for deferred commissions, valuation of stock-based awards, the determination of allowance for credit losses, the incremental borrowing rate used to measure operating lease liabilities, 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 macroeconomic conditions such as inflation and foreign exchange fluctuations, 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. |
Deferred Commissions | Deferred Commissions The Company capitalizes certain sales commissions, including related payroll taxes, earned by the Company’s sales force, which are considered to be incremental costs that would not be incurred absent of the contract. On an annual basis, the Company assesses the expected period of benefit by taking into consideration its customer contracts, its technology and duration of customer relationships. Based on our most recent assessment, the Company determined the expected period of benefit for incremental costs of customer contracts should be increased from three |
Concentration of Credit Risk | Concentration of Credit Risk Financial instruments that potentially subject the Company to credit risk primarily consist of cash, cash equivalents, restricted cash, short-term investments and accounts receivable. The Company maintains its cash and cash equivalents, restricted cash and short-term investments with high-quality financial institutions. Cash equivalents consist of money market funds which are invested through financial institutions in the United States ( “ U.S. ” ). Deposits, including those held in foreign branches of global banks, may exceed the amount of insurance provided on such deposits. The Company has not experienced any losses on these deposits. For its accounts receivable, the Company is exposed to credit risk in the event of nonpayment by customers to the extent of the amounts recorded on the consolidated balance sheet. Generally, credit risk with respect to accounts receivable is diversified due to the number of entities comprising the Company’s customer base and their dispersion across different geographies and industries. The Company performs ongoing credit evaluations on certain customers and generally does not require collateral on accounts receivable. The Company maintains an allowance for credit losses and historically bad debts have not been material. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements There were 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 Annual Report. Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which is intended to improve reportable segment disclosure requirements. ASU 2023-07 expands segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. Additionally, the amendments require disclosure of the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. All disclosure requirements of ASU 2023-07 are required for all entities including entities with a single reportable segment. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is in the process of evaluating the impact of the adoption on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires companies to disclose additional information about income taxes, primarily their rate reconciliation information and income taxes paid. The new guidance requires companies to disclose in their rate reconciliation table additional categories of information about federal, state and foreign income taxes and to provide more details about the reconciling items in some categories if the items meet a quantitative threshold. Additionally companies will be required to disclose annually income taxes paid (net of refunds received) disaggregated by federal (national), state and foreign taxes and to disaggregate the information by jurisdiction based on a quantitative threshold. The guidance is effective for the Company for the fiscal year ending January 31, 2026, and early adoption is permitted. The Company is currently evaluating the impact of ASU 2023-09 on its consolidated financial statements and related disclosures. Under the Jumpstart Our Business Startups Act (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. |
Cash Equivalents and Short-Te_2
Cash Equivalents and Short-Term Investments (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
Cash, Cash Equivalents, and Short-Term Investments [Abstract] | |
Schedule of Cash Equivalents and Short-term Investments | The following tables summarize the Company’s cash equivalents and short-term investments (in thousands): As of April 30, 2024 Amortized Gross Gross Estimated Cash Equivalents Money market funds $ 37,117 $ — $ — $ 37,117 Total cash equivalents 37,117 — — 37,117 Short-Term Investments U.S. government treasury securities 83,723 1 (157) 83,567 Corporate debt securities 13,804 2 (49) 13,757 U.S. government agency securities 5,999 — (12) 5,987 Commercial paper 4,909 — — 4,909 Total short-term investments 108,435 3 (218) 108,220 Total $ 145,552 $ 3 $ (218) $ 145,337 As of January 31, 2024 Amortized Gross Gross Estimated Cash Equivalents Money market funds $ 32,895 $ — $ — $ 32,895 Total cash equivalents 32,895 — — 32,895 Short-Term Investments U.S. government treasury securities 85,525 58 (7) 85,576 Corporate debt securities 13,712 14 (1) 13,725 U.S. government agency securities 7,999 — (8) 7,991 Commercial paper 4,845 — — 4,845 Asset-backed securities 144 — — 144 Total short-term investments 112,225 72 (16) 112,281 Total $ 145,120 $ 72 $ (16) $ 145,176 |
Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value | The Company’s gross unrealized losses and fair values for short-term investments that were in an unrealized loss position as of April 30, 2024 and January 31, 2024 aggregated by investment category and the length of time that individual securities have been in a continuous loss position were as follows (in thousands): As of April 30, 2024 Less Than 12 Months 12 Months or Greater Total Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value U.S. government treasury securities $ (157) $ 77,620 $ — $ — $ (157) $ 77,620 U.S. government agency securities (12) 5,987 — — (12) 5,987 Corporate debt securities (49) 9,826 — — (49) 9,826 Total $ (218) $ 93,433 $ — $ — $ (218) $ 93,433 As of January 31, 2024 Less Than 12 Months 12 Months or Greater Total Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value U.S. government treasury securities $ (7) $ 22,746 $ — $ — $ (7) $ 22,746 U.S. government agency securities (8) 7,991 — — (8) 7,991 Corporate debt securities (1) 5,008 — — (1) 5,008 Asset-backed securities — — — 144 — 144 Total $ (16) $ 35,745 $ — $ 144 $ (16) $ 35,889 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
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 April 30, 2024 Level 1 Level 2 Total Cash Equivalents Money market funds $ 37,117 $ — $ 37,117 Total cash equivalents 37,117 — 37,117 Short-Term Investments U.S. government treasury securities — 83,567 83,567 Corporate debt securities — 13,757 13,757 U.S. government agency securities — 5,987 5,987 Commercial paper — 4,909 4,909 Total short-term investments — 108,220 108,220 Total $ 37,117 $ 108,220 $ 145,337 As of January 31, 2024 Level 1 Level 2 Total Cash Equivalents Money market funds $ 32,895 $ — $ 32,895 Total cash equivalents 32,895 — 32,895 Short-Term Investments U.S. government treasury securities — 85,576 85,576 Corporate debt securities — 13,725 13,725 U.S. government agency securities — 7,991 7,991 Commercial paper — 4,845 4,845 Asset-backed securities — 144 144 Total short-term investments — 112,281 112,281 Total $ 32,895 $ 112,281 $ 145,176 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
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 April 30, As of January 31, 2024 2024 Prepaid expenses $ 4,720 $ 4,793 Prepaid software 4,390 4,429 Other current assets 1,197 1,163 Total prepaid expenses and other current assets $ 10,307 $ 10,385 |
Schedule of Property and Equipment, Net | Property and equipment, net consisted of the following (in thousands): As of April 30, As of January 31, 2024 2024 Computer equipment $ 3,744 $ 3,736 Furniture and fixtures 418 418 Capitalized internal-use software 8,743 8,743 Leasehold improvements 1,903 1,903 Construction in progress—capitalized internal-use software 3,749 2,571 Total gross property and equipment 18,557 17,371 Accumulated depreciation and amortization (12,444) (12,044) Total property and equipment, net $ 6,113 $ 5,327 |
Schedule of Accrued Compensation and Benefits | Accrued compensation and benefits consisted of the following (in thousands): As of April 30, As of January 31, 2024 2024 Accrued bonus $ 2,784 $ 7,056 Accrued commissions 2,150 4,852 Accrued payroll and benefits 3,304 4,690 Employee contributions under the ESPP 701 1,518 Total accrued compensation and benefits $ 8,939 $ 18,116 |
Schedule of Other Accrued Liabilities | Other accrued liabilities consisted of the following (in thousands): As of April 30, As of January 31, 2024 2024 Accrued professional fees $ 937 $ 1,190 Sales and value added tax payable 287 517 Income taxes payable 137 173 Other 2,453 2,701 Total other accrued liabilities $ 3,814 $ 4,581 |
Deferred Revenue and Remainin_2
Deferred Revenue and Remaining Performance Obligations (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
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 April 30, As of January 31, 2024 2024 Deferred revenue, current $ 89,619 $ 81,736 Deferred revenue, noncurrent 2,572 2,747 Total deferred revenue $ 92,191 $ 84,483 Changes in the deferred revenue balances during the three months ended April 30, 2024 and 2023 were as follows (in thousands): Three Months Ended April 30, 2024 2023 Beginning balance $ 84,483 $ 74,991 Performance obligations satisfied during the period that were included in the deferred revenue balance at the beginning of the year (34,359) (29,061) Increases due to invoicing prior to satisfaction of performance obligations 42,067 35,484 Ending balance $ 92,191 $ 81,414 |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
Leases [Abstract] | |
Schedule of Supplemental Cash Flow Related to Leases | The components of lease costs were as follows (in thousands): Three Months Ended April 30, 2024 2023 Operating lease costs $ 765 $ 772 Variable lease costs $ 157 $ 146 Short-term lease costs were immaterial during the three months ended April 30, 2024 and 2023. The following table presents supplemental cash flow information related to leases (in thousands): Three Months Ended April 30, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 843 $ 823 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ — $ — |
Schedule of Supplemental Balance Sheet Information | The following table presents supplemental balance sheet information related to operating leases (in thousands, except for lease term and discount rate): April 30, 2024 January 31, 2024 Operating lease right-of-use assets $ 4,135 $ 4,848 Operating lease liabilities $ 3,106 $ 3,208 Operating lease liabilities, noncurrent 1,388 2,078 Total operating lease liabilities $ 4,494 $ 5,286 Weighted-average remaining lease term 1.8 years 2.0 years Weighted-average discount rate 4.4 % 4.4 % |
Schedule of Operating Lease Maturities | As of April 30, 2024, remaining maturities of operating lease liabilities were as follows (in thousands): Period Operating Leases Remaining for Fiscal 2025 $ 2,514 Fiscal 2026 1,481 Fiscal 2027 437 Fiscal 2028 245 Fiscal 2029 and thereafter — Total lease payments 4,677 Less: imputed interest (183) Total $ 4,494 |
Stockholders_ Equity and Empl_2
Stockholders’ Equity and Employee Incentive Plans (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
Equity And Compensation Related Costs Share Based Payments [Abstract] | |
Schedule of Reserved Common Stock for Future Issuance | As of April 30, 2024, the Company has reserved common stock for future issuance as follows: Number of Shares Stock options outstanding 5,465,173 Restricted stock units issued and outstanding 5,930,054 Remaining shares available for issuance under the 2021 Plan 3,565,156 Shares available for issuance under the 2023 Inducement Plan 955,779 ESPP 1,606,656 Common stock warrants 105,350 Total 17,628,168 |
Schedule of Stock Option Activity under Stock Plans | The following table summarizes stock option activity under the Stock Plans for the three months ended April 30, 2024 (aggregate intrinsic value in thousands): Options Outstanding Weighted- Aggregate Number of Weighted- Balances as of January 31, 2024 5,889,938 $ 10.38 4.84 $ 86,742 Options exercised (406,055) $ 8.11 Options cancelled (18,710) $ 24.78 Balances as of April 30, 2024 5,465,173 $ 10.50 4.55 $ 75,355 Options vested and expected to vest as of April 30, 2024 5,465,173 $ 10.50 4.55 $ 75,355 Options vested and exercisable as of April 30, 2024 5,152,472 $ 9.80 4.41 $ 74,479 |
Schedule of Share-based Payment Arrangement, Restricted Stock Unit, Activity | The following table is a summary of service-based RSU activity for the three months ended April 30, 2024: RSUs Outstanding Number of RSUs Weighted Average Grant Date Fair Value Per Share Balances as of January 31, 2024 3,909,920 $ 17.56 RSUs granted 1,743,216 $ 27.48 RSUs vested (531,351) $ 17.32 RSUs forfeited (137,331) $ 18.93 Balances as of April 30, 2024 4,984,454 $ 21.02 |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions | The fair value of employee stock purchase rights for the offering period under the 2021 ESPP was determined on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: Three Months Ended April 30, 2024 2023 Employee Stock Purchase Plan: Expected term (in years) 1.2 0.8 Expected volatility 60.1 % 66.9 % Risk-free interest rate 5.0 % 4.8 % Dividend yield — — |
Schedule of Stock-Based Compensation Expense | Stock-based compensation expense, net of amounts capitalized was as follows (in thousands): Three Months Ended April 30, 2024 2023 Cost of revenue—subscription $ 266 $ 193 Cost of revenue—services 141 145 Research and development 3,993 2,768 Sales and marketing 5,223 3,241 General and administrative 5,004 2,928 Restructuring — 1 Total stock-based compensation expense $ 14,627 $ 9,276 |
Geographic Information (Tables)
Geographic Information (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
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 customers (in thousands): Three Months Ended April 30, 2024 2023 United States $ 34,682 $ 25,991 International 16,645 15,005 Total $ 51,327 $ 40,996 |
Net Loss per Share (Tables)
Net Loss per Share (Tables) | 3 Months Ended |
Apr. 30, 2024 | |
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 April 30, 2024 2023 Numerator Net loss $ (20,995) $ (21,875) Denominator Weighted-average shares used in computing net loss per share, basic and diluted 49,788 45,843 Net loss per share, basic and diluted $ (0.42) $ (0.48) |
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 April 30, 2024 2023 Stock options 5,465 7,388 RSUs 5,886 6,983 Employee stock purchase rights under the ESPP 141 118 Common stock warrants 105 105 Total 11,597 14,594 |
Basis of Presentation and Sum_3
Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) - customer | 3 Months Ended | ||
Feb. 01, 2024 | Jan. 31, 2024 | Apr. 30, 2024 | |
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||
Expected period of benefit for incremental costs of customer contracts (in years) | 4 years | 3 years | |
Accounts Receivable | Customer Concentration Risk | |||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||
Number of customers | 0 | 2 | |
Customer A | Accounts Receivable | Customer Concentration Risk | |||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||
Concentration risk (as a percent) | 16% | ||
Customer B | Accounts Receivable | Customer Concentration Risk | |||
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||
Concentration risk (as a percent) | 13% |
Cash Equivalents and Short-Te_3
Cash Equivalents and Short-Term Investments - Summary of Cash Equivalents and Short-term Investments (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 |
Cash Equivalents | ||
Cash equivalents, amortized cost | $ 37,117 | $ 32,895 |
Cash equivalents, estimate fair value | 37,117 | 32,895 |
Short-Term Investments | ||
Amortized Cost | 108,435 | 112,225 |
Gross Unrealized Gains | 3 | 72 |
Gross Unrealized Losses | (218) | (16) |
Estimated Fair Value | 108,220 | 112,281 |
Amortized Cost | 145,552 | 145,120 |
Estimated Fair Value | 145,337 | 145,176 |
U.S. government treasury securities | ||
Short-Term Investments | ||
Amortized Cost | 83,723 | 85,525 |
Gross Unrealized Gains | 1 | 58 |
Gross Unrealized Losses | (157) | (7) |
Estimated Fair Value | 83,567 | 85,576 |
Corporate debt securities | ||
Short-Term Investments | ||
Amortized Cost | 13,804 | 13,712 |
Gross Unrealized Gains | 2 | 14 |
Gross Unrealized Losses | (49) | (1) |
Estimated Fair Value | 13,757 | 13,725 |
U.S. government agency securities | ||
Short-Term Investments | ||
Amortized Cost | 5,999 | 7,999 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (12) | (8) |
Estimated Fair Value | 5,987 | 7,991 |
Commercial paper | ||
Short-Term Investments | ||
Amortized Cost | 4,909 | 4,845 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 4,909 | 4,845 |
Asset-backed securities | ||
Short-Term Investments | ||
Amortized Cost | 144 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | 0 | |
Estimated Fair Value | 144 | |
Money market funds | ||
Cash Equivalents | ||
Cash equivalents, amortized cost | 37,117 | 32,895 |
Cash equivalents, estimate fair value | $ 37,117 | $ 32,895 |
Cash Equivalents and Short-Te_4
Cash Equivalents and Short-Term Investments - Summary of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 |
Debt Securities, Available-for-Sale, Unrealized Loss Position | ||
Short-term investments, less than 12 months, unrealized Losses | $ (218) | $ (16) |
Short-term investments, less than 12 months, fair value | 93,433 | 35,745 |
Short-term investments,12 months or greater, unrealized Losses | 0 | 0 |
Short-term investments, 12 months or greater, fair value | 0 | 144 |
Short-term investments, unrealized Losses | (218) | (16) |
Short-term investments, fair value | 93,433 | 35,889 |
U.S. government treasury securities | ||
Debt Securities, Available-for-Sale, Unrealized Loss Position | ||
Short-term investments, less than 12 months, unrealized Losses | (157) | (7) |
Short-term investments, less than 12 months, fair value | 77,620 | 22,746 |
Short-term investments,12 months or greater, unrealized Losses | 0 | 0 |
Short-term investments, 12 months or greater, fair value | 0 | 0 |
Short-term investments, unrealized Losses | (157) | (7) |
Short-term investments, fair value | 77,620 | 22,746 |
U.S. government agency securities | ||
Debt Securities, Available-for-Sale, Unrealized Loss Position | ||
Short-term investments, less than 12 months, unrealized Losses | (12) | (8) |
Short-term investments, less than 12 months, fair value | 5,987 | 7,991 |
Short-term investments,12 months or greater, unrealized Losses | 0 | 0 |
Short-term investments, 12 months or greater, fair value | 0 | 0 |
Short-term investments, unrealized Losses | (12) | (8) |
Short-term investments, fair value | 5,987 | 7,991 |
Corporate debt securities | ||
Debt Securities, Available-for-Sale, Unrealized Loss Position | ||
Short-term investments, less than 12 months, unrealized Losses | (49) | (1) |
Short-term investments, less than 12 months, fair value | 9,826 | 5,008 |
Short-term investments,12 months or greater, unrealized Losses | 0 | 0 |
Short-term investments, 12 months or greater, fair value | 0 | 0 |
Short-term investments, unrealized Losses | (49) | (1) |
Short-term investments, fair value | $ 9,826 | 5,008 |
Asset-backed securities | ||
Debt Securities, Available-for-Sale, Unrealized Loss Position | ||
Short-term investments, less than 12 months, unrealized Losses | 0 | |
Short-term investments, less than 12 months, fair value | 0 | |
Short-term investments,12 months or greater, unrealized Losses | 0 | |
Short-term investments, 12 months or greater, fair value | 144 | |
Short-term investments, unrealized Losses | 0 | |
Short-term investments, fair value | $ 144 |
Cash Equivalents and Short Term
Cash Equivalents and Short Term Investments - Additional Information (Details) | 3 Months Ended | ||
Apr. 30, 2024 USD ($) investment | Apr. 30, 2023 USD ($) | Jan. 31, 2024 USD ($) investment | |
Cash, Cash Equivalents, and Short-Term Investments [Abstract] | |||
Reclassify from accumulated other comprehensive income (loss) | $ 0 | $ 0 | |
Contractual maturity in one year | 88,800,000 | $ 97,600,000 | |
Contractual maturity greater than one year | $ 19,400,000 | $ 14,700,000 | |
Number of short-term investments in unrealized loss position, investments | investment | 19 | 13 |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Fair Value Hierarchy For Company's Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total cash equivalents | $ 37,117 | $ 32,895 |
Total short-term investments | 108,220 | 112,281 |
U.S. government treasury securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 83,567 | 85,576 |
Corporate debt securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 13,757 | 13,725 |
U.S. government agency securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 5,987 | 7,991 |
Commercial paper | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 4,909 | 4,845 |
Asset-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 144 | |
Money market funds | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total cash equivalents | 37,117 | 32,895 |
Fair Value, Recurring | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total cash equivalents | 37,117 | 32,895 |
Total short-term investments | 108,220 | 112,281 |
Total | 145,337 | 145,176 |
Fair Value, Recurring | U.S. government treasury securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 83,567 | 85,576 |
Fair Value, Recurring | Corporate debt securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 13,757 | 13,725 |
Fair Value, Recurring | U.S. government agency securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 5,987 | 7,991 |
Fair Value, Recurring | Commercial paper | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 4,909 | 4,845 |
Fair Value, Recurring | Asset-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 144 | |
Fair Value, Recurring | Money market funds | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total cash equivalents | 37,117 | 32,895 |
Fair Value, Recurring | Level 1 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total cash equivalents | 37,117 | 32,895 |
Total short-term investments | 0 | 0 |
Total | 37,117 | 32,895 |
Fair Value, Recurring | Level 1 | U.S. government treasury securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 0 | 0 |
Fair Value, Recurring | Level 1 | Corporate debt securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 0 | 0 |
Fair Value, Recurring | Level 1 | U.S. government agency securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 0 | 0 |
Fair Value, Recurring | Level 1 | Commercial paper | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 0 | 0 |
Fair Value, Recurring | Level 1 | Asset-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 0 | |
Fair Value, Recurring | Level 1 | Money market funds | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total cash equivalents | 37,117 | 32,895 |
Fair Value, Recurring | Level 2 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total cash equivalents | 0 | 0 |
Total short-term investments | 108,220 | 112,281 |
Total | 108,220 | 112,281 |
Fair Value, Recurring | Level 2 | U.S. government treasury securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 83,567 | 85,576 |
Fair Value, Recurring | Level 2 | Corporate debt securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 13,757 | 13,725 |
Fair Value, Recurring | Level 2 | U.S. government agency securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 5,987 | 7,991 |
Fair Value, Recurring | Level 2 | Commercial paper | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 4,909 | 4,845 |
Fair Value, Recurring | Level 2 | Asset-backed securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total short-term investments | 144 | |
Fair Value, Recurring | Level 2 | Money market funds | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis | ||
Total cash equivalents | $ 0 | $ 0 |
Balance Sheet Components - Sche
Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 |
Balance Sheet Related Disclosures [Abstract] | ||
Prepaid expenses | $ 4,720 | $ 4,793 |
Prepaid software | 4,390 | 4,429 |
Other current assets | 1,197 | 1,163 |
Total prepaid expenses and other current assets | $ 10,307 | $ 10,385 |
Balance Sheet Components - Sc_2
Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 |
Property Plant And Equipment | ||
Total gross property and equipment | $ 18,557 | $ 17,371 |
Accumulated depreciation and amortization | (12,444) | (12,044) |
Total property and equipment, net | 6,113 | 5,327 |
Computer equipment | ||
Property Plant And Equipment | ||
Total gross property and equipment | 3,744 | 3,736 |
Furniture and fixtures | ||
Property Plant And Equipment | ||
Total gross property and equipment | 418 | 418 |
Capitalized internal-use software | ||
Property Plant And Equipment | ||
Total gross property and equipment | 8,743 | 8,743 |
Leasehold improvements | ||
Property Plant And Equipment | ||
Total gross property and equipment | 1,903 | 1,903 |
Construction in progress—capitalized internal-use software | ||
Property Plant And Equipment | ||
Total gross property and equipment | $ 3,749 | $ 2,571 |
Balance Sheet Components - Addi
Balance Sheet Components - Additional Information of Property and Equipment Net (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Property Plant And Equipment | ||
Depreciation and amortization | $ 400 | $ 890 |
Capitalized internal-use software | ||
Property Plant And Equipment | ||
Depreciation and amortization | $ 200 | $ 700 |
Balance Sheet Components - Sc_3
Balance Sheet Components - Schedule of Accrued Compensation and Benefits (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 |
Accrued Compensation and Benefits | ||
Accrued bonus | $ 2,784 | $ 7,056 |
Accrued commissions | 2,150 | 4,852 |
Accrued payroll and benefits | 3,304 | 4,690 |
Employee contributions under the ESPP | 701 | 1,518 |
Total accrued compensation and benefits | $ 8,939 | $ 18,116 |
Balance Sheet Components - Sc_4
Balance Sheet Components - Schedule of Other Accrued Liabilities (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 |
Other Accrued Liabilities | ||
Accrued professional fees | $ 937 | $ 1,190 |
Sales and value added tax payable | 287 | 517 |
Income taxes payable | 137 | 173 |
Other | 2,453 | 2,701 |
Total other accrued liabilities | $ 3,814 | $ 4,581 |
Deferred Revenue and Remainin_3
Deferred Revenue and Remaining Performance Obligations - Schedule of Deferred Revenue Balances (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 | Apr. 30, 2023 | Jan. 31, 2023 |
Contract with Customer, Liability | ||||
Deferred revenue, current | $ 89,619 | $ 81,736 | ||
Deferred revenue, noncurrent | 2,572 | 2,747 | ||
Total deferred revenue | $ 92,191 | $ 84,483 | $ 81,414 | $ 74,991 |
Deferred Revenue and Remainin_4
Deferred Revenue and Remaining Performance Obligations - Schedule of Changes In Deferred Revenue Balances (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Change In Contract With Customer, Liability | ||
Beginning balance | $ 84,483 | $ 74,991 |
Performance obligations satisfied during the period that were included in the deferred revenue balance at the beginning of the year | (34,359) | (29,061) |
Increases due to invoicing prior to satisfaction of performance obligations | 42,067 | 35,484 |
Ending balance | $ 92,191 | $ 81,414 |
Deferred Revenue and Remainin_5
Deferred Revenue and Remaining Performance Obligations - Additional Information (Details) $ in Millions | Apr. 30, 2024 USD ($) |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items] | |
Remaining performance obligation | $ 220 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-05-01 | |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items] | |
Remaining performance obligation | $ 137 |
Revenue expected to be recognized from remaining performance obligations, period (in months) | 12 months |
Debt - Additional Information (
Debt - Additional Information (Details) - USD ($) | Feb. 07, 2024 | Apr. 30, 2024 |
Letter of Credit | ||
Debt Instrument | ||
Maximum borrowing capacity | $ 5,000,000 | |
Line of credit outstanding | $ 500,000 | |
Loan Agreement | Credit Facility | ||
Debt Instrument | ||
Debt instrument term (in years) | 3 years | |
Maximum borrowing capacity | $ 25,000,000 | |
Variable rate (as a percent) | 3% | |
Debt instrument, periodic payment period (in months) | 3 months | |
Loan Agreement | Credit Facility | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | ||
Debt Instrument | ||
Fee payable on unused portion of line of credit (as a percent) | 0.25% | |
Accordion Feature | Credit Facility | ||
Debt Instrument | ||
Maximum borrowing capacity | $ 25,000,000 |
Leases - Additional Information
Leases - Additional Information (Details) | Apr. 30, 2024 |
Maximum | |
Lessee, Lease, Description | |
Lease term (up to) (in years) | 3 years |
Leases - Lease costs (Details)
Leases - Lease costs (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Leases [Abstract] | ||
Operating lease costs | $ 765 | $ 772 |
Variable lease costs | $ 157 | 146 |
Short-term lease costs | $ 0 |
Leases - Schedule of Supplement
Leases - Schedule of Supplemental Cash Flow Related to Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Cash paid for amounts included in the measurement of lease liabilities: | ||
Operating cash outflows from operating leases | $ 843 | $ 823 |
Right-of-use assets obtained in exchange for lease obligations: | ||
Operating leases | $ 0 | $ 0 |
Leases - Schedule of Suppleme_2
Leases - Schedule of Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 |
Operating Lease, Assets And Liabilities, Lessee [Abstract] | ||
Operating lease right-of-use assets | $ 4,135 | $ 4,848 |
Operating lease liabilities | 3,106 | 3,208 |
Operating lease liabilities, noncurrent | 1,388 | 2,078 |
Total operating lease liabilities | $ 4,494 | $ 5,286 |
Weighted-average remaining lease term (in years) | 1 year 9 months 18 days | 2 years |
Weighted-average discount rate (as a percent) | 4.40% | 4.40% |
Leases - Schedule of Operating
Leases - Schedule of Operating Lease Maturities (Details) - USD ($) $ in Thousands | Apr. 30, 2024 | Jan. 31, 2024 |
Operating Leases | ||
Remaining for Fiscal 2025 | $ 2,514 | |
Fiscal 2026 | 1,481 | |
Fiscal 2027 | 437 | |
Fiscal 2028 | 245 | |
Fiscal 2029 and thereafter | 0 | |
Total lease payments | 4,677 | |
Less: imputed interest | (183) | |
Total | $ 4,494 | $ 5,286 |
Stockholders_ Equity and Empl_3
Stockholders’ Equity and Employee Incentive Plans - Additional Information (Details) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Apr. 30, 2024 USD ($) vote $ / shares shares | Apr. 30, 2023 USD ($) shares | Jan. 31, 2024 $ / shares shares | Apr. 30, 2019 $ / shares shares | |
Share Based Compensation Arrangement By Share Based Payment Award | ||||
Preferred stock, shares authorized (in shares) | shares | 200,000,000 | 200,000,000 | ||
Preferred stock, par value (in dollars per share) | $ / shares | $ 0.00001 | $ 0.00001 | ||
Common stock, shares authorized (in shares) | shares | 1,000,000,000 | 1,000,000,000 | ||
Common stock, par value (in dollars per share) | $ / shares | $ 0.00001 | $ 0.00001 | ||
Number of vote (vote) | vote | 1 | |||
Dividend declared (in dollars per share) | $ / shares | $ 0 | $ 0 | ||
Total stock-based compensation expense | $ 14,627 | $ 9,276 | ||
Award cliff period (in years) | 1 year | |||
ESPP | ||||
Share Based Compensation Arrangement By Share Based Payment Award | ||||
Total stock-based compensation expense | $ 600 | $ 300 | ||
Unrecognized stock-based compensation expense related to unvested stock options | $ 2,400 | |||
Stock-based compensation expected to be recognized weighted-average period (in years) | 1 year | |||
Share purchases related to ESPP (in shares) | shares | 123,778 | |||
Minimum | ||||
Share Based Compensation Arrangement By Share Based Payment Award | ||||
Award requisite service period (in years) | 2 years | |||
Maximum | ||||
Share Based Compensation Arrangement By Share Based Payment Award | ||||
Award requisite service period (in years) | 4 years | |||
Stock options outstanding | ||||
Share Based Compensation Arrangement By Share Based Payment Award | ||||
Options granted (in shares) | shares | 0 | 0 | ||
Aggregate intrinsic value of options exercised | $ 8,100 | $ 4,200 | ||
Total stock-based compensation expense | 900 | 1,200 | ||
Unrecognized stock-based compensation expense related to unvested stock options | $ 2,600 | |||
Stock-based compensation expected to be recognized weighted-average period (in years) | 9 months 18 days | |||
Service-Based Restricted Stock Units (RSUs) | ||||
Share Based Compensation Arrangement By Share Based Payment Award | ||||
Total stock-based compensation expense | $ 11,600 | 6,800 | ||
Stock-based compensation expected to be recognized weighted-average period (in years) | 1 year 9 months 18 days | |||
Aggregate fair value of RSU granted | $ 47,900 | 39,300 | ||
Unrecognized stock-based compensation expense related to service vesting-based RSUs | $ 93,600 | |||
Number of shares vested during the period (in shares) | shares | 531,351 | |||
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number (in shares) | shares | 4,984,454 | 3,909,920 | ||
Performance-based Awards | ||||
Share Based Compensation Arrangement By Share Based Payment Award | ||||
Total stock-based compensation expense | $ 1,300 | 700 | ||
Stock-based compensation expected to be recognized weighted-average period (in years) | 1 year 4 months 24 days | |||
Unrecognized stock-based compensation expense related to service vesting-based RSUs | $ 4,700 | |||
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number (in shares) | shares | 840,000 | |||
Market-Based Restricted Stock Units (RSUs) | ||||
Share Based Compensation Arrangement By Share Based Payment Award | ||||
Total stock-based compensation expense | $ 300 | $ 200 | ||
Stock-based compensation expected to be recognized weighted-average period (in years) | 10 months 24 days | |||
Unrecognized stock-based compensation expense related to service vesting-based RSUs | $ 500 | |||
Number of shares vested during the period (in shares) | shares | 79,200 | |||
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number (in shares) | shares | 105,600 | |||
Amended Loan | Loans Payable | ||||
Share Based Compensation Arrangement By Share Based Payment Award | ||||
Warrants issued to purchase common stock (in shares) | shares | 105,350 | |||
Exercise price of warrants or rights (in dollars per share) | $ / shares | $ 7.48 | |||
Warrants exercisable period (in years) | 10 years | |||
IPO | ||||
Share Based Compensation Arrangement By Share Based Payment Award | ||||
Number of shares outstanding (in shares) | shares | 0 | |||
Number of common stock for sale and issuance (in shares) | shares | 0 |
Stockholders_ Equity and Empl_4
Stockholders’ Equity and Employee Incentive Plans - Summary of Reserved Common Stock for Future Issuance (Details) | Apr. 30, 2024 shares |
Class Of Stock | |
Number of shares reserved common stock for future issuance (in shares) | 17,628,168 |
Stock options outstanding | |
Class Of Stock | |
Number of shares reserved common stock for future issuance (in shares) | 5,465,173 |
Restricted stock units issued and outstanding | |
Class Of Stock | |
Number of shares reserved common stock for future issuance (in shares) | 5,930,054 |
Remaining shares available for issuance under the 2021 Plan | |
Class Of Stock | |
Number of shares reserved common stock for future issuance (in shares) | 3,565,156 |
Remaining shares available for issuance under the 2021 Plan | Shares available for issuance under the 2023 Inducement Plan | |
Class Of Stock | |
Number of shares reserved common stock for future issuance (in shares) | 955,779 |
ESPP | |
Class Of Stock | |
Number of shares reserved common stock for future issuance (in shares) | 1,606,656 |
Common stock warrants | |
Class Of Stock | |
Number of shares reserved common stock for future issuance (in shares) | 105,350 |
Stockholders_ Equity and Empl_5
Stockholders’ Equity and Employee Incentive Plans - Summary of Stock Option Activity under Stock Plans (Details) - Stock options outstanding - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended |
Apr. 30, 2024 | Jan. 31, 2024 | |
Options Outstanding, Number of Options | ||
Beginning balance (in shares) | 5,889,938 | |
Options exercised (in shares) | (406,055) | |
Options cancelled (in shares) | (18,710) | |
Ending balance (in shares) | 5,465,173 | 5,889,938 |
Options vested and expected to vest (in shares) | 5,465,173 | |
Options vested and exercisable (in shares) | 5,152,472 | |
Options Outstanding, Weighted Average Exercise Price | ||
Beginning balance (in dollars per share) | $ 10.38 | |
Options exercised (in dollars per share) | 8.11 | |
Options cancelled (in dollars per share) | 24.78 | |
Ending balance (in dollars per share) | 10.50 | $ 10.38 |
Options vested and expected to vest (in dollars per share) | 10.50 | |
Options vested and exercisable (in dollars per share) | $ 9.80 | |
Stock Options Additional Disclosures | ||
Options outstanding, weighted average remaining contractual term (in years) | 4 years 6 months 18 days | 4 years 10 months 2 days |
Options vested and expected to vest, weighted-average contractual term (in years) | 4 years 6 months 18 days | |
Options vested and exercisable, weighted-average contractual term (in years) | 4 years 4 months 28 days | |
Options outstanding, aggregate intrinsic value | $ 75,355 | $ 86,742 |
Options vested and expected to vest, aggregate intrinsic value | 75,355 | |
Options vested and exercisable, aggregate intrinsic value | $ 74,479 |
Stockholders_ Equity and Empl_6
Stockholders’ Equity and Employee Incentive Plans - Summary of RSU Activity (Details) - Service-Based Restricted Stock Units (RSUs) | 3 Months Ended |
Apr. 30, 2024 $ / shares shares | |
RSUs Outstanding, Number of RSUs | |
Beginning balance (in shares) | shares | 3,909,920 |
RSUs granted (in shares) | shares | 1,743,216 |
RSUs vested (in shares) | shares | (531,351) |
RSUs forfeited (in shares) | shares | (137,331) |
Ending balance (in shares) | shares | 4,984,454 |
RSUs Outstanding, Weighted Average Grant Date Fair Value Per Share | |
Beginning balance (in dollars per share) | $ / shares | $ 17.56 |
RSUs granted (in dollars per share) | $ / shares | 27.48 |
RSUs vested (in dollars per share) | $ / shares | 17.32 |
RSUs forfeited (in dollars per share) | $ / shares | 18.93 |
Ending balance (in dollars per share) | $ / shares | $ 21.02 |
Stockholders_ Equity and Empl_7
Stockholders’ Equity and Employee Incentive Plans - Summary of Fair Value of Employee Stock Options Estimated using Weighted-Average Assumptions (Details) - Stock options outstanding - 2021 ESPP | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Share Based Compensation Arrangement By Share Based Payment Award | ||
Expected term (in years) | 1 year 2 months 12 days | 9 months 18 days |
Expected volatility (as a percent) | 60.10% | 66.90% |
Risk-free interest rate (as a percent) | 5% | 4.80% |
Dividend yield | 0% | 0% |
Stockholders_ Equity and Empl_8
Stockholders’ Equity and Employee Incentive Plans - Summary of Weighted-Average Assumptions Used In Estimating Fair Value of Employee Stock Purchase Rights (Details) - 2021 ESPP - Stock options outstanding | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Share Based Compensation Arrangement By Share Based Payment Award | ||
Expected term (in years) | 1 year 2 months 12 days | 9 months 18 days |
Expected volatility (as a percent) | 60.10% | 66.90% |
Risk-free interest rate (as a percent) | 5% | 4.80% |
Dividend yield | 0% | 0% |
Stockholders_ Equity and Empl_9
Stockholders’ Equity and Employee Incentive Plans - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs | ||
Total stock-based compensation expense | $ 14,627 | $ 9,276 |
Research and development | ||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs | ||
Total stock-based compensation expense | 3,993 | 2,768 |
Sales and marketing | ||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs | ||
Total stock-based compensation expense | 5,223 | 3,241 |
General and administrative | ||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs | ||
Total stock-based compensation expense | 5,004 | 2,928 |
Restructuring | ||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs | ||
Total stock-based compensation expense | 0 | 1 |
Cost of revenue—subscription | Cost of revenue | ||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs | ||
Total stock-based compensation expense | 266 | 193 |
Cost of revenue—services | Cost of revenue | ||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs | ||
Total stock-based compensation expense | $ 141 | $ 145 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Income Tax Disclosure [Abstract] | ||
Income tax expense | $ (14) | $ 750 |
Geographic Information - Schedu
Geographic Information - Schedule of Disaggregation of Revenue by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Segment Reporting Information | ||
Total | $ 51,327 | $ 40,996 |
United States | ||
Segment Reporting Information | ||
Total | 34,682 | 25,991 |
International | ||
Segment Reporting Information | ||
Total | $ 16,645 | $ 15,005 |
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, shares in Thousands, $ in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Numerator | ||
Net loss | $ (20,995) | $ (21,875) |
Denominator | ||
Weighted-average shares used in computing net loss per share, basic (in shares) | 49,788 | 45,843 |
Weighted-average shares used in computing net loss per share, diluted (in shares) | 49,788 | 45,843 |
Net loss per share, basic (in dollars per share) | $ (0.42) | $ (0.48) |
Net loss per share, diluted (in dollars per share) | $ (0.42) | $ (0.48) |
Net Loss per Share - Schedule_2
Net Loss per Share - Schedule of Potentially Dilutive Securities were Excluded from the Computation of Diluted Net Loss Per Share (Details) - shares shares in Thousands | 3 Months Ended | |
Apr. 30, 2024 | Apr. 30, 2023 | |
Antidilutive Securities Excluded From Computation Of Earnings Per Share | ||
Potentially dilutive securities were excluded from computation of diluted net loss per share (in shares) | 11,597 | 14,594 |
Stock options | ||
Antidilutive Securities Excluded From Computation Of Earnings Per Share | ||
Potentially dilutive securities were excluded from computation of diluted net loss per share (in shares) | 5,465 | 7,388 |
RSUs | ||
Antidilutive Securities Excluded From Computation Of Earnings Per Share | ||
Potentially dilutive securities were excluded from computation of diluted net loss per share (in shares) | 5,886 | 6,983 |
Employee stock purchase rights under the ESPP | ||
Antidilutive Securities Excluded From Computation Of Earnings Per Share | ||
Potentially dilutive securities were excluded from computation of diluted net loss per share (in shares) | 141 | 118 |
Common stock warrants | ||
Antidilutive Securities Excluded From Computation Of Earnings Per Share | ||
Potentially dilutive securities were excluded from computation of diluted net loss per share (in shares) | 105 | 105 |