Cover Page
Cover Page - shares | 9 Months Ended | |
Oct. 31, 2020 | Nov. 30, 2020 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Oct. 31, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-38982 | |
Entity Registrant Name | Medallia, Inc. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 77-0558353 | |
Entity Address, Address Line One | 575 Market Street | |
Entity Address, Address Line Two | Suite 1850 | |
Entity Address, City or Town | San Francisco | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94105 | |
City Area Code | 650 | |
Local Phone Number | 321-3000 | |
Title of 12(b) Security | Common Stock, $0.001 par value per share | |
Trading Symbol | MDLA | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 150,448,557 | |
Entity Central Index Key | 0001540184 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Current Fiscal Year End Date | --01-31 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheet - USD ($) $ in Thousands | Oct. 31, 2020 | Jan. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 497,688 | $ 226,866 |
Marketable securities | 156,337 | 116,833 |
Trade and other receivables, net of allowance for doubtful accounts of $4,002 and $982 as of October 31, 2020 and January 31, 2020, respectively | 97,666 | 150,661 |
Deferred commissions, current | 27,460 | 22,455 |
Prepaid expenses and other current assets | 23,533 | 22,492 |
Total current assets | 802,684 | 539,307 |
Property and equipment, net | 44,520 | 34,879 |
Deferred commissions, noncurrent | 60,179 | 51,540 |
Intangible assets, net | 64,159 | 21,306 |
Goodwill | 260,562 | 79,324 |
Other noncurrent assets | 13,571 | 5,293 |
Total assets | 1,245,675 | 731,649 |
Current liabilities: | ||
Accounts payable | 13,546 | 3,608 |
Accrued expenses and other current liabilities | 31,118 | 20,268 |
Accrued compensation | 29,425 | 37,160 |
Deferred revenue, current | 193,979 | 263,115 |
Total current liabilities | 268,068 | 324,151 |
Convertible senior notes, net | 442,085 | 0 |
Deferred revenue, noncurrent | 4,062 | 1,407 |
Deferred rent, noncurrent | 5,617 | 2,799 |
Other liabilities | 15,357 | 5,496 |
Total liabilities | 735,189 | 333,853 |
Commitments and contingencies (Note 10) | ||
Stockholders' equity: | ||
Common stock, $0.001 par value: 1,000,000,000 shares authorized as of October 31, 2020 and January 31, 2020; 149,979,882 shares and 132,346,402 shares issued and outstanding as of October 31, 2020 and January 31, 2020, respectively | 145 | 132 |
Additional paid-in capital | 1,092,357 | 878,843 |
Accumulated other comprehensive loss | (1,157) | (206) |
Accumulated deficit | (580,859) | (480,973) |
Total stockholders' equity | 510,486 | 397,796 |
Total liabilities and stockholders' equity | $ 1,245,675 | $ 731,649 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Oct. 31, 2020 | Jan. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 4,002 | $ 982 |
Common stock, par value per share (in usd per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued (in shares) | 149,979,882 | 132,346,402 |
Common stock, shares outstanding (in shares) | 149,979,882 | 132,346,402 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Revenue: | ||||
Revenues | $ 120,958 | $ 103,074 | $ 349,174 | $ 292,363 |
Total revenue | 120,958 | 103,074 | 349,174 | 292,363 |
Cost of revenue: | ||||
Total cost of revenue | 43,848 | 38,595 | 124,583 | 106,073 |
Gross profit | 77,110 | 64,479 | 224,591 | 186,290 |
Operating expenses: | ||||
Research and development | 28,034 | 26,321 | 88,203 | 68,630 |
Sales and marketing | 58,333 | 47,067 | 162,290 | 127,152 |
General and administrative | 20,288 | 32,758 | 70,923 | 72,672 |
Total operating expenses | 106,655 | 106,146 | 321,416 | 268,454 |
Loss from operations | (29,545) | (41,667) | (96,825) | (82,164) |
Interest income and other income (expense), net | (3,247) | 2,001 | (3,520) | 2,574 |
Loss before provision for (benefits from) income taxes | (32,792) | (39,666) | (100,345) | (79,590) |
Provision for (benefits from) income taxes | (633) | (46) | (459) | 873 |
Net loss | $ (32,159) | $ (39,620) | $ (99,886) | $ (80,463) |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (0.22) | $ (0.31) | $ (0.70) | $ (1.19) |
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares) | 147,930 | 127,715 | 142,179 | 67,735 |
Subscription | ||||
Revenue: | ||||
Revenues | $ 96,936 | $ 79,749 | $ 278,759 | $ 226,008 |
Cost of revenue: | ||||
Total cost of revenue | 21,065 | 16,296 | 57,539 | 44,456 |
Professional services | ||||
Revenue: | ||||
Revenues | 24,022 | 23,325 | 70,415 | 66,355 |
Cost of revenue: | ||||
Total cost of revenue | $ 22,783 | $ 22,299 | $ 67,044 | $ 61,617 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | ||||
Net loss | $ (32,159) | $ (39,620) | $ (99,886) | $ (80,463) |
Other comprehensive income (loss), net of taxes: | ||||
Foreign currency translation adjustment | 643 | 761 | 60 | 375 |
Change in unrealized gain (loss) on marketable securities | (26) | (1) | (38) | 45 |
Change in unrealized gain (loss) on cash flow hedges | (203) | 608 | (973) | (83) |
Other comprehensive income (loss) | 414 | 1,368 | (951) | 337 |
Comprehensive loss | $ (31,745) | $ (38,252) | $ (100,837) | $ (80,126) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | |
Operating activities | ||
Net loss | $ (99,886) | $ (80,463) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 19,776 | 10,812 |
Amortization of deferred commissions | 19,167 | 13,616 |
Stock-based compensation expense | 81,453 | 80,296 |
Gain on property and equipment, and lease termination | 0 | (13,783) |
Lease exit costs | 7,828 | 0 |
Amortization of debt discount and issuance costs | 2,762 | 0 |
Other | 2,864 | (1,463) |
Changes in assets and liabilities: | ||
Trade and other receivables | 52,783 | 36,627 |
Deferred commissions | (32,811) | (24,108) |
Prepaid expenses and other current assets | (220) | (5,849) |
Other noncurrent assets | (3,421) | 92 |
Accounts payable | 6,676 | 2,655 |
Deferred revenue | (71,387) | (49,921) |
Accrued expenses and other current liabilities | (3,088) | 10,410 |
Other noncurrent liabilities | 6,308 | 17 |
Net cash used in operating activities | (11,196) | (21,062) |
Investing activities | ||
Purchases of property, equipment and other | (14,829) | (14,250) |
Purchase of marketable securities | (294,220) | (76,122) |
Maturities of marketable securities | 250,733 | 53,604 |
Proceeds from sale of marketable securities | 1,100 | 511 |
Acquisitions, net of cash acquired | (223,647) | (75,238) |
Other | 0 | (1,500) |
Net cash used in investing activities | (280,863) | (112,995) |
Financing activities | ||
Proceeds from issuance of convertible senior notes, net of issuance costs | 558,998 | 0 |
Purchase of capped calls related to convertible senior notes | (61,870) | 0 |
Proceeds from initial public offering net of issuance costs, underwriters discounts and commissions, and concurrent private placement | 0 | 319,972 |
Proceeds from Series F convertible preferred stock, net of issuance costs | 0 | 69,848 |
Proceeds from revolving line of credit | 43,000 | 0 |
Repayment of revolving line of credit | (43,000) | 0 |
Proceeds from exercise of stock options | 57,724 | 16,451 |
Payments for employee taxes withheld upon vesting of restricted stock units | 0 | (15,592) |
Proceeds from share purchase plan | 17,828 | 0 |
Principal payments on capital leases | (3,405) | (2,505) |
Repayment of debt assumed in acquisitions and other | (6,445) | (2,297) |
Net cash provided by financing activities | 562,830 | 385,877 |
Effect of exchange rate changes on cash and cash equivalents | 51 | (45) |
Net increase in cash and cash equivalents | 270,822 | 251,775 |
Cash and cash equivalents at beginning of period | 226,866 | 44,876 |
Cash and cash equivalents at end of period | 497,688 | 296,651 |
Supplemental disclosures of cash flow information | ||
Cash paid for interest | 971 | 469 |
Cash paid for income taxes | 667 | 1,208 |
Noncash investing and financing activities | ||
Other receivables related to stock option exercises | 94 | 0 |
Vesting of early exercised stock options | 0 | 453 |
Accrued unpaid issuance costs related to convertible senior notes | 760 | 0 |
Accrued unpaid issuance costs related to initial public offering | 0 | 400 |
Accrued unpaid purchase price related to acquisitions | 0 | 2,729 |
Accrued unpaid capital expenditures | $ 7,779 | $ 6,573 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Preferred StockConvertible Preferred Stock | Common Stock | Common StockCommon Class A | Common StockCommon Class B | Additional Paid-In Capital | Accumulated Other Comprehensive Loss | Accumulated Deficit |
Beginning balance at Jan. 31, 2019 | $ (6,558) | $ 72 | $ 0 | $ 30 | $ 0 | $ 363,076 | $ (1,096) | $ (368,640) |
Beginning balance (in shares) at Jan. 31, 2019 | 72,482,609 | 0 | 29,755,883 | 3,000 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Exercise of employee stock options | 16,451 | $ 4 | $ 1 | 16,446 | ||||
Exercise of employee stock options (in shares) | 2,617,886 | 1,370,818 | ||||||
Release of restricted stock units (in shares) | 455,328 | |||||||
Stock-based compensation | 80,296 | 80,296 | ||||||
Conversion of common stock | $ 31 | $ (31) | ||||||
Conversion of common stock (in shares) | 31,129,701 | (31,126,701) | (3,000) | |||||
Conversion of preferred stock | $ (77) | $ 77 | ||||||
Conversion of preferred stock (in shares) | (77,149,275) | 77,149,275 | ||||||
Proceeds from initial public offering, net of issuance and underwriter's discounts and commissions and concurrent private placement | 319,572 | $ 17 | 319,555 | |||||
Proceeds from initial public offering, net of issuance and underwriters' discounts and commissions and concurrent private placement (in shares) | 16,680,000 | |||||||
Repurchase of early exercised stock options (in shares) | (823) | |||||||
Issuance of Series F preferred shares, net of issuance costs | 69,848 | $ 5 | 69,843 | |||||
Issuance of Series F preferred shares, net of issuance costs (in shares) | 4,666,666 | |||||||
Vesting of early exercised stock options | 453 | 453 | ||||||
Payments for employee taxes withheld upon vesting of restricted stock units | (15,592) | $ (2) | (15,590) | |||||
Warrant exercises (in shares) | 121,915 | |||||||
Other comprehensive loss | 337 | 337 | ||||||
Net loss | (80,463) | (80,463) | ||||||
Ending balance at Oct. 31, 2019 | 384,344 | $ 0 | $ 127 | $ 0 | $ 0 | 834,079 | (759) | (449,103) |
Ending balance (in shares) at Oct. 31, 2019 | 0 | 128,153,282 | 0 | 0 | ||||
Beginning balance at Jul. 31, 2019 | 397,531 | $ 0 | $ 127 | $ 0 | $ 0 | 809,014 | (2,127) | (409,483) |
Beginning balance (in shares) at Jul. 31, 2019 | 0 | 126,920,943 | 0 | 0 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Exercise of employee stock options | 3,433 | $ 2 | 3,431 | |||||
Exercise of employee stock options (in shares) | 728,593 | |||||||
Release of restricted stock units (in shares) | 455,328 | |||||||
Stock-based compensation | 37,155 | 37,155 | ||||||
Repurchase of early exercised stock options (in shares) | (198) | |||||||
Vesting of early exercised stock options | 69 | 69 | ||||||
Payments for employee taxes withheld upon vesting of restricted stock units | (15,592) | $ (2) | (15,590) | |||||
Warrant exercises (in shares) | 48,616 | |||||||
Other comprehensive loss | 1,368 | 1,368 | ||||||
Net loss | (39,620) | (39,620) | ||||||
Ending balance at Oct. 31, 2019 | 384,344 | $ 0 | $ 127 | $ 0 | $ 0 | 834,079 | (759) | (449,103) |
Ending balance (in shares) at Oct. 31, 2019 | 0 | 128,153,282 | 0 | 0 | ||||
Beginning balance at Jan. 31, 2020 | 397,796 | $ 0 | $ 132 | $ 0 | $ 0 | 878,843 | (206) | (480,973) |
Beginning balance (in shares) at Jan. 31, 2020 | 0 | 132,346,402 | 0 | 0 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Exercise of employee stock options | $ 57,454 | $ 12 | 57,442 | |||||
Exercise of employee stock options (in shares) | 12,710,980 | 12,710,980 | ||||||
Release of restricted stock units (in shares) | 3,882,280 | |||||||
Issuance of shares from share purchase plan | $ 17,828 | $ 1 | 17,827 | |||||
Issuance of shares from share purchase plan (in shares) | 1,040,220 | |||||||
Stock-based compensation | 81,453 | 81,453 | ||||||
Equity component of convertible senior notes, net of issuance costs | 118,662 | 118,662 | ||||||
Purchase of capped calls related to convertible senior notes | (61,870) | (61,870) | ||||||
Other comprehensive loss | (951) | (951) | ||||||
Net loss | (99,886) | (99,886) | ||||||
Ending balance at Oct. 31, 2020 | 510,486 | $ 0 | $ 145 | $ 0 | $ 0 | 1,092,357 | (1,157) | (580,859) |
Ending balance (in shares) at Oct. 31, 2020 | 0 | 149,979,882 | 0 | 0 | ||||
Beginning balance at Jul. 31, 2020 | 436,103 | $ 0 | $ 142 | $ 0 | $ 0 | 986,232 | (1,571) | (548,700) |
Beginning balance (in shares) at Jul. 31, 2020 | 0 | 145,554,351 | 0 | 0 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Exercise of employee stock options | 16,760 | $ 3 | 16,757 | |||||
Exercise of employee stock options (in shares) | 2,857,497 | |||||||
Release of restricted stock units (in shares) | 1,119,546 | |||||||
Issuance of shares from share purchase plan | 7,561 | 7,561 | ||||||
Issuance of shares from share purchase plan (in shares) | 448,488 | |||||||
Stock-based compensation | 25,015 | 25,015 | ||||||
Equity component of convertible senior notes, net of issuance costs | 118,662 | 118,662 | ||||||
Purchase of capped calls related to convertible senior notes | (61,870) | (61,870) | ||||||
Other comprehensive loss | 414 | 414 | ||||||
Net loss | (32,159) | (32,159) | ||||||
Ending balance at Oct. 31, 2020 | $ 510,486 | $ 0 | $ 145 | $ 0 | $ 0 | $ 1,092,357 | $ (1,157) | $ (580,859) |
Ending balance (in shares) at Oct. 31, 2020 | 0 | 149,979,882 | 0 | 0 |
Description of Business and Sum
Description of Business and Summary of Significant Accounting Policies | 9 Months Ended |
Oct. 31, 2020 | |
Accounting Policies [Abstract] | |
Description of Business and Summary of Significant Accounting Policies | Description of Business and Summary of Significant Accounting Policies Description of Business Medallia, Inc. (the Company or Medallia) provides an enterprise Software-as-a-Service (SaaS) platform that utilizes deep learning-based artificial intelligence (AI) technology to analyze structured and unstructured data from signal fields across human, digital and Internet of Things (IoT) interactions at great scale to derive personalized and predictive insights. Medallia's customers include companies in various industries such as retail, technology, manufacturing, financial services, insurance and hospitality. Medallia is headquartered in San Francisco, California. Basis of Presentation and Consolidation The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated balance sheet as of January 31, 2020 included herein was derived from the audited financial statements as of that date but does not include all disclosures including certain notes required by GAAP on an annual reporting basis. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of operations, comprehensive loss, stockholders’ equity and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year or any future period. The unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements in its Annual Report on Form 10-K, for the year ended January 31, 2020. The Company's fiscal year ends on January 31. References to fiscal 2021, for example, refer to the fiscal year ending January 31, 2021. Use of Estimates The preparation of these unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the periods covered by the consolidated financial statements and accompanying notes. Such estimates include, but are not limited to revenue recognition, stock-based compensation expense, including estimation of the grant date fair value of the common stock, allowance for doubtful accounts, the fair value of the liability and equity components of the convertible senior notes, the assessment of the recoverability of long-lived assets (goodwill and identified intangible assets), lease exit charges and contingencies. The Company bases its estimates on historical experience and on assumptions that it believes are reasonable. The Company assesses these estimates on a regular basis; however, actual results could materially differ from these estimates. The COVID-19 pandemic has created and may continue to create significant uncertainty, which in the future may adversely impact the Company’s results of operations. The Company expects uncertainties around its key accounting estimates, including principally the allowance for doubtful accounts, to continue to evolve depending on the duration and degree of impact associated with the COVID-19 pandemic. The Company’s estimates may change as new events occur and additional information emerges, and such changes are recognized or disclosed in its unaudited condensed consolidated financial statements. JOBS Act Accounting Election The Company is an emerging growth company (EGC), as defined in the Jumpstart Our Business Startups Act of 2012 (the JOBS Act). Under the JOBS Act, EGCs can delay adopting new or revised accounting standards issued subsequent to 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 earlier of the date the Company (i) is no longer an EGC or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, the Company’s unaudited condensed consolidated financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates. Effective January 31, 2021, the Company will no longer meet the definition of an EGC. Accordingly, as of January 31, 2021, the Company will be required to comply with the effective accounting standards as described in "Recently Issued Accounting Pronouncements," which the Company is currently evaluating. Concentrations of Credit Risk and Significant Customers Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents, marketable securities and trade and other receivables. For cash, cash equivalents and marketable securities, the Company is exposed to credit risk in the event of default to the extent of the amounts recorded on the unaudited condensed consolidated balance sheets. A majority of the cash balances are with U.S. banks and are insured to the extent defined by the Federal Deposit Insurance Corporation. The Company does not require collateral for trade receivabl es. No customer accounted for 10% or more of total revenues for the three and nine months end ed October 31, 2020 and 2019. No customer accounted for 10% or more of trade and other receivables, net as of October 31, 2020 and 2019 . Significant Accounting Policies The Company’s significant accounting policies are disclosed in its Annual Report on Form 10-K for the year ended January 31, 2020. There have been no material changes t o the Company’s significant accounting policies during the three and nine months ended October 31, 2020 except as noted herein. Convertible Senior Notes In September 2020 the Company issued 0.125% convertible senior notes due September 15, 2025 (the Notes), for an aggregate principal amount of $575.0 million to qualified institutional buyers . The Company accounts for these Notes as separate components of liability and equity. The carrying amount of the liability component was included in convertible senior notes, net in the unaudited condensed consolidated balance sheets and was calculated by measuring the fair value of similar liabilities that do not have associated convertible features. The carrying amount of the equity component representing the conversion option was determined by deducting the fair value of the liability component from the par value of the Notes. This difference represents the debt discount that is amortized to interest expense over the term of the Notes using the effective interest rate method. The gross carrying amount of the equity component was included in additional paid-in capital in the unaudited condensed consolidated balance sheets and is not remeasured as long as it continues to meet the conditions for equity classification. Recently Issued Accounting Pronouncements In February 2016 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842), as amended, which requires lessees to put all leases on their balance sheets, whether operating or financing, while continuing to recognize the expenses on their income statements in a similar manner to current practice. The guidance states that a lessee would recognize a lease liability for the obligation to make lease payments and a right-to-use asset for the right to use the underlying asset for the lease term. In the fourth quarter of fiscal year 2021, the guidance will be required to be adopted by the Company for its fiscal year ending January 31, 2021. While the Company is evaluating the accounting, transition and disclosure requirements of the standard, the Company anticipates the recognition of additional assets and corresponding liabilities related to the leases on its balance sheets. In June 2016 the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments , as amended, which requires the measurement and recognition of expected credit losses for financial assets not held at fair value. ASU No. 2016-13 replaces the existing incurred loss impairment model with a forward-looking expected credit loss model which will result in earlier recognition of credit losses. In the fourth quarter of fiscal year 2021, the guidance will be required to be adopted by the Company for its fiscal year ending January 31, 2021. The Comp any is in the process of evaluating the impact of this accounting standard. In August 2017 the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , as amended. The ASU is intended to better align an entity's risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. In the fourth quarter of fiscal year 2021, the guidance will be required to be adopted by the Company for its fiscal year ending January 31, 2021. The Company is in the process of evaluating the impact of this accounting standard. In August 2020 the FASB issued ASU No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , which simplifies the accounting for certain convertible instruments, amends the guidance on derivative scope exceptions for contracts in an entity's own equity, and modifies the guidance on diluted earnings per share calculations as a result of these changes. This new standard is effective for the Company for fiscal year ending January 31, 2023 and interim periods within that fiscal year. The amendment is to be adopted through either a fully retrospective or modified retrospective method of transition. Early adoption is permitted. The Company is in the process of evaluating the impact of this accounting standard. |
Revenue
Revenue | 9 Months Ended |
Oct. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | Revenue Revenue Recognition Revenue is recognized when promised goods or services are transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The Company determines revenue recognition through the following steps: • identification of the contract, or contracts, with a customer; • identification of the performance obligations in the contract; • determination of the transaction price; • allocation of the transaction price to the performance obligations in the contract; and • recognition of revenue when, or as, the Company satisfies a performance obligation. Subscription Revenue Subscription revenue is derived from customers accessing the Company's proprietary hosted cloud application. The Company's customers do not have the ability to take possession of the software operating the cloud application. The contracted subscription terms are typically one year to three years. The Company recognizes subscription revenue ratably over the subscription term, commencing on the date the service is provisioned. Professional Services Revenue Professional services revenue consists of managed services and implementation and other services. These services are distinct from subscription revenue. Managed services support our customers by providing a range of ongoing services including program design, launch, enhancement, expansion and analytics. Managed services are a stand-ready obligation to perform these services over the term of the arrangement and as a result, revenues are recognized ratably over the term of the arrangement. Implementation services consist primarily of initial design, integration and configuration services. Other professional services include projects that enable customers to gain insightful business information through data analysis, and the Company's institute training programs. Implementation and other services revenue are recognized as services are performed. Contracts with Multiple Performance Obligations Most of the Company's contracts with customers contain multiple performance obligations. The Company's subscription services are sold for a broad range of amounts (the selling price is highly variable) and a representative standalone selling price (SSP) is not discernible from past transactions or other observable evidence. Standalone selling prices for professional services are estimated based upon observable transactions when those services are sold on a standalone basis. As a result, the SSP for subscription services included in a contract with multiple performance obligations is determined by applying a residual approach whereby performance obligations related to professional services within a contract are first allocated a portion of the transaction price based upon their respective SSPs, with the residual amount of transaction price allocated to subscription services. Contract Balances and Remaining Performance Obligations Contract assets represent revenue recognized for contracts that have not yet been invoiced to customers, typically for multi-year arrangements. Total contract assets were $4.0 million and $2.1 million as of October 31, 2020 and January 31, 2020, respectively. These balances are included within trade and other receivables, net, on the unaudited condensed consolidated balance sheets. Contract liabilities consist of deferred revenue. Revenue is deferred when the Company has the right to invoice in advance of services being provided. The Company recognized revenue o f $94.4 million and $224.1 million during the three and nine months ended October 31, 2020, respectively, and $77.4 million and $167.7 million for the three and nine months ended October 31, 2019, respectively, that were included in the deferred revenue balances at the beginning of the respective periods. The Company applied a practicable expedient allowing it not to disclose the amount of the transaction price allocated to the remaining performance obligations for contracts with an original expected duration of one year or less, which includes certain professional service contracts. Remaining performance obligations represent contra cted revenue that has not yet been recognized, and include deferred revenue, and amounts that will be invoiced and recognized as revenue in future periods. As of October 31, 2020 the Company's remaining performance obligations were $731.9 million, approximately 47% of which it expects to recognize as revenue over the next 12 months and the remaining balance will be recognized thereafter. As of January 31, 2020 the Company's remaining performance obligations were $679.0 million, approximately 51% of which it expects to recognize as revenue over the next 12 months and the remaining balance will be recognized thereafter. Disaggregation of Revenue by Geographic Region The following table sets forth revenue by geographic region based on the billing address of the customers' parent for the periods presented (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 North America $ 93,512 $ 78,209 $ 268,944 $ 221,543 EMEA 17,414 16,771 51,641 48,104 Other 10,032 8,094 28,589 22,716 Total $ 120,958 $ 103,074 $ 349,174 $ 292,363 The United States comprised 73% of the Company's revenue during each of the three and nine months ended October 31, 2020, and comprised 73% and 72% during the three and nine months ended October 31, 2019, respectively. No other country comprised 10% or greater of the Company's revenue during each of the three and nine months ended October 31, 2020 and 2019. |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities | 9 Months Ended |
Oct. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets and Liabilities | Fair Value of Assets and Liabilities The Company estimates the fair value of cash equivalents, marketable securities and foreign currency derivative contracts by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Observable inputs such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets and liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data or other means. Level 3: Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. The inputs require significant management judgment or estimation. Assets and Liabilities Measured at Fair Value on a Recurring Basis All of the Company's cash equivalents, marketable securities and foreign currency derivative contracts are classified within Level 1 or Level 2 because the Company's cash equivalents, marketable securities and foreign currency derivative contracts are valued using quoted market prices or alternative pricing sources and models utilizing observable market inputs. The following tables represents the fair value of assets and liabilities measured at fair value on a recurring basis using the above hierarchy (in thousands): October 31, 2020 January 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 356,737 $ — $ — $ 356,737 $ 92,272 $ — $ — $ 92,272 Corporate notes and bonds — 505 — 505 — — — — Commercial paper — 30,192 — 30,192 — 17,667 — 17,667 U.S. government and agency securities — 16,998 — 16,998 — 17,978 — 17,978 Total cash equivalents 356,737 47,695 — 404,432 92,272 35,645 — 127,917 Marketable securities: Corporate notes and bonds — 29,802 — 29,802 — 5,674 — 5,674 Commercial paper — 31,974 — 31,974 — 13,713 — 13,713 U.S. government and agency securities — 97,643 — 97,643 — 97,446 — 97,446 Total marketable securities — 159,419 — 159,419 — 116,833 — 116,833 Derivative assets — 623 — 623 — 683 — 683 Total assets measured at fair value $ 356,737 $ 207,737 $ — $ 564,474 $ 92,272 $ 153,161 $ — $ 245,433 Liabilities: Derivative liabilities $ — $ 794 $ — $ 794 $ — $ 342 $ — $ 342 Total liabilities measured at fair value $ — $ 794 $ — $ 794 $ — $ 342 $ — $ 342 Convertible Senior Notes In September 2020 the Company issued $575.0 million aggregate principal amount 0.125% convertible senior notes due 2025 as described in Note 9, Debt. As of October 31, 2020 the fair value of these Notes was approximately $591.7 million. The fair value was determined based on the quoted price for the Notes in an over-the-counter market on the last trading day of the reporting period and is considered as Level 2 in the fair value hierarchy. |
Cash Equivalents and Marketable
Cash Equivalents and Marketable Securities | 9 Months Ended |
Oct. 31, 2020 | |
Cash and Cash Equivalents [Abstract] | |
Cash Equivalents and Marketable Securities | Cash Equivalents and Marketable Securities As of October 31, 2020 cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 356,737 $ — $ — $ 356,737 Corporate notes and bonds 30,318 — (11) 30,307 Commercial paper 62,166 — — 62,166 U.S. government and agency securities 114,646 — (5) 114,641 Total $ 563,867 $ — $ (16) $ 563,851 Included in cash and cash equivalents $ 404,432 $ — $ — $ 404,432 Included in marketable securities $ 156,351 $ — $ (14) $ 156,337 Included in other noncurrent assets $ 3,084 $ — $ (2) $ 3,082 As of January 31, 2020 cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 92,272 $ — $ — $ 92,272 Corporate notes and bonds 5,665 9 — 5,674 Commercial paper 31,379 — — 31,379 U.S. government and agency securities 115,412 13 — 115,425 Total $ 244,728 $ 22 $ — $ 244,750 Included in cash and cash equivalents $ 127,917 $ — $ — $ 127,917 Included in marketable securities $ 116,811 $ 22 $ — $ 116,833 As of October 31, 2020 marketable securities of $156.3 million had a stated maturity date of less than one year and marketable securities of $3.1 million had a stated maturity date of greater than one year. All marketable securities as of January 31, 2020 had a stated maturity date of less than one year. |
Derivative Instruments
Derivative Instruments | 9 Months Ended |
Oct. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments | Derivative Instruments Cash Flow Hedges As of October 31, 2020 and January 31, 2020 the Company had outstanding foreign currency forward contracts designated as cash flow hedges with total notional value s of $4.2 million and $5.8 million, respectively. All contracts have maturities not greater than 13 months. The notional value represents the amount that will be bought or sold upon maturity of the forward contract. During the three and nine months ended October 31, 2020 and 2019 all cash flow hedges were considered effective. Foreign Currency Forward Contracts Not Designated as Hedges As of October 31, 2020 and January 31, 2020 the Company had outstanding forward contract s with total notional values o f $25.5 million and $23.5 million, respectively. All contracts have maturities not greater than 13 months. The fair values of outstanding derivative instruments were as follows (in thousands): October 31, 2020 January 31, 2020 Derivative assets (recorded in prepaid expenses and other current assets): Foreign currency forward contracts designated as cash flow hedges $ 191 $ 384 Foreign currency forward contracts not designated as hedges 432 299 Derivative liabilities (recorded in accrued expenses and other current liabilities): Foreign currency forward contracts designated as cash flow hedges $ 397 $ 76 Foreign currency forward contracts not designated as hedges 397 266 Gains (losses) associated with foreign currency forward contracts designated as cash flow hedges were as follows (in thousands): Condensed Consolidated Statements of Operations and Statements of Comprehensive Loss (OCI) Locations Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Gains (losses) recognized in OCI (effective portion) Change in unrealized gains (losses) on cash flow hedges, net of tax $ 16 $ 374 $ (660) $ (237) Gains reclassified from OCI into income (effective portion) Revenues 166 131 459 350 Gains (losses) reclassified from OCI into income (effective portion) General and administrative 53 (365) (146) (504) Losses recognized in income (amount excluded from effectiveness testing and ineffective portion) Interest income and other income (expense), net (15) (42) (73) (105) Of the gains (losses) recognized in OCI for the effective portion of foreign currency forward contracts designated as cash flow hedges as of October 31, 2020 , $0.2 million is expected to be reclassified out of OCI within the next 12 months. Gains (losses) associated with foreign currency forward contracts not designated as cash flow hedges were as follows (in thousands): Condensed Consolidated Statements of Operations Location Three Months Ended October 31, Nine Months Ended October 31, Derivative Type 2020 2019 2020 2019 Foreign currency forward contracts not designated as hedges Interest income and other income (expense), net $ (214) $ 124 $ (1,331) $ 80 As of October 31, 2020 information related to offsetting arrangements was as follows (in thousands): Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Assets in the Condensed Consolidated Balance Sheets Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Net Assets Exposed Financial Instruments Cash Collateral Received Derivative assets: Counterparty A $ 5 $ — $ 5 $ (5) $ — $ — Counterparty B 618 — 618 (618) — — Total $ 623 $ — $ 623 $ (623) $ — $ — Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Net Liabilities Exposed Financial Instruments Cash Collateral Pledged Derivative liabilities: Counterparty A $ 29 $ — $ 29 $ (5) $ — $ 24 Counterparty B 765 — 765 (618) — 147 Total $ 794 $ — $ 794 $ (623) $ — $ 171 As of January 31, 2020 information related to offsetting arrangements was as follows (in thousands): Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Assets in the Condensed Consolidated Balance Sheets Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Net Assets Exposed Financial Instruments Cash Collateral Received Derivative assets: Counterparty A $ 102 $ — $ 102 $ (5) $ — $ 97 Counterparty B 581 — 581 (337) — 244 Total $ 683 $ — $ 683 $ (342) $ — $ 341 Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Net Liabilities Exposed Financial Instruments Cash Collateral Pledged Derivative liabilities: Counterparty A $ 5 $ — $ 5 $ (5) $ — $ — Counterparty B 337 — 337 (337) — — Total $ 342 $ — $ 342 $ (342) $ — $ — |
Business Combinations
Business Combinations | 9 Months Ended |
Oct. 31, 2020 | |
Business Combinations [Abstract] | |
Business Combinations | Business Combinations On September 14, 2020 the Company acquired Sense360 Inc. (Sense360), a privately-held company, for a purchase price of $45.7 million in cash. Sense360 provides always-on, consumer and competitive intelligence from buyer and non-buyer segments and answers pressing questions such as what is driving traffic, what are the growth opportunities in a specific market and which competitors are gaining share and why. On September 8, 2020 the Company acquired StellaServices Inc. (Stella Connect), a privately-held company, for a purchase price of $99.6 million in cash. Stella Connect is a customer feedback and quality management platform that helps customer support teams to analyze and improve performance in real time. On May 1, 2020 the Company acquired Voci Technologies, Inc. (Voci), a privately -held company, for a purchase price of $59.6 million in cash. Voci is a real-time speech to text platform, that delivers a rich single view of the customer that can power an exceptional customer experience. On February 19, 2020 the Company acquired LivingLens Enterprise Ltd. (LivingLens), a privately-held company, for a purchase price of $26.8 million in cash. LivingLens provides a video feedback platform to humanize feedback and bring the voice of the customer and employee to life. On October 3, 2019 the Company acquired Crowdicity Limited (C rowdicity), a privately-held company, for a purchase price of $16.6 million in cash. Crowdicity is an idea and innovation management platform. On September 23, 2019 the Company acquired Zingle Inc. (Zingle), a privately-held company, for a purchase price of $47.3 million in cash. Zingle is a leading multi-channel mobile messaging and customer engagement solution. On July 15, 2019 the Company acquired Promoter.io Inc. (Promoter.io), a privately-held company, for a purchase price of $2.3 million in cash. Promoter.io is a Net Promoter Score (NPS) platform for small and medium sized businesses that can measure loyalty and customer sentiment using the NPS. On June 17, 2019 the Company acquired Cooladata Ltd. (Cooladata), a privately-held company, for a purchase price of $7.6 million in cash. Cooladata is a cloud-based behavioral analytics platform that can derive and predict customer sentiment. On May 16, 2019 the Company acquired Strikedeck Inc. (Strikedeck), a privately-held company, for a purchase price of $11.0 million in cash. Strikedeck is a customer success platform for business-to-business customers. The above transactions were each accounted for as business combinations. Accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values as of the acquisition date when control was obtained. The Company expensed all transaction costs in the period in which they were incurred. The fair value of developed technologies was determined using either the Multiple Period Excess Earnings Method or the Royalty Relief Method, the fair value of customer relationships was determined by using the Multiple Period Excess Earnings Method, the fair value of trademarks was determined using the Royalty Relief Method, and the fair value of backlog was determined using the Multiple Period Excess Earnings Method. The excess of the consideration paid over the fair value of the net tangible assets and liabilities and identifiable intangible assets acquired is recorded as goodwill. The goodwill resulting from the acquisitions are largely attributable to the synergies expected to be realized. None of the goodwill recorded from the acquisitions will be deductible for income tax purposes. The Company is in the process of settling working capital adjustments for Sense360, Stella Connect, Voci, and LivingLens, and therefore the provisional measurements of identifiable assets and liabilities, and the resulting goodwill related to these acquisitions are subject to change and the final purchase price accounting could be different from the amounts presented herein. The following table summarizes the purchase consideration, net of cash acquired, and the related fair values of the assets acquired and liabilities assumed (in thousands): Purchase Consideration, Net of Cash Acquired Net Liabilities Assumed Identifiable Intangible Assets Goodwill Sense360 $ 45,273 $ (351) $ 10,500 $ 35,124 Stella Connect 98,822 (3,478) 20,800 81,500 Voci 55,285 (1,259) 12,600 43,944 LivingLens 25,894 (406) 5,700 20,600 Crowdicity 15,865 (2,350) 4,811 13,404 Zingle 42,702 (665) 8,715 34,652 Promoter.io 1,694 (431) 900 1,225 Cooladata 7,346 (2,784) 4,600 5,530 Strikedeck 10,498 (439) 4,000 6,937 The following table sets forth each component of identifiable intangible assets acquired in connection with the acquisitions (in thousands): Developed Technology Customer Relationships Other (1) Sense360 $ 5,000 $ 5,200 $ 300 Stella Connect 9,400 10,000 1,400 Voci 7,700 4,600 300 LivingLens 3,100 2,200 400 Crowdicity 2,406 2,105 300 Zingle 4,915 3,000 800 Promoter.io 700 — 200 Cooladata 4,600 — — Strikedeck 4,000 — — (1) Other includes trademarks and backlog. The useful lives of developed technology, customer relationships and other are five years, five years and one The financial results for the above acquisitions are included in the Company's unaudited condensed consolidated financial statements from the date of acquisition through October 31, 2020. The pro forma impact of these acquisitions on unaudited condensed consolidated revenue, income (loss) from operations and net loss was not material. |
Goodwill And Intangible Assets,
Goodwill And Intangible Assets, Net | 9 Months Ended |
Oct. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets, Net | Goodwill and Intangible Assets, Net Goodwill represents the excess of the purchase price in a business combination of the fair value of net assets acquired. Goodwill amounts are not amortized, but rather tested for impairment at least annually during the fourth quarter. The changes in goodwill are as follows (in thousands): Balance as of January 31, 2019 $ 16,745 Acquisitions 61,748 Foreign currency exchange 831 Balance as of January 31, 2020 79,324 Acquisitions 181,168 Foreign currency exchange 70 Balance as of October 31, 2020 $ 260,562 The changes in intangible assets for fiscal 2021 and the net book value of intangible assets as of October 31, 2020 and January 31, 2020 were as follows (in thousands, except years): Intangible Assets, Gross Accumulated Amortization Intangible Assets, Net January 31, 2020 Identifiable Intangible Assets Acquired (1) October 31, 2020 January 31, 2020 Amortization Expense October 31, 2020 January 31, 2020 October 31, 2020 Weighted Average Remaining Useful Life (years) Developed technology $ 18,670 $ 25,208 $ 43,878 $ (3,473) $ (4,252) $ (7,725) $ 15,197 $ 36,153 4.4 Customer relationships 5,237 22,003 27,240 (351) (1,978) (2,329) 4,886 24,911 4.6 Other (2) 1,320 2,401 3,721 (97) (529) (626) 1,223 3,095 2.6 $ 25,227 $ 49,612 $ 74,839 $ (3,921) $ (6,759) $ (10,680) $ 21,306 $ 64,159 4.4 (1) Amounts also include any changes in intangible asset balances for the periods presented that resulted from foreign currency translation. (2) Other includes trademarks and backlog. The changes in intangible assets for fiscal 2020 and the net book value of intangible assets as of January 31, 2020 and January 31, 2019 were as follows (in thousands, except years): Intangible Assets, Gross Accumulated Amortization Intangible Assets, Net January 31, 2019 Identifiable Intangible Assets Acquired (1) January 31, 2020 January 31, 2019 Amortization Expense January 31, 2020 January 31, 2019 January 31, 2020 Weighted Average Remaining Useful Life (years) Developed technology $ 1,900 $ 16,770 $ 18,670 $ (1,594) $ (1,879) $ (3,473) $ 306 $ 15,197 4.5 Customer relationships — 5,237 5,237 — (351) (351) — 4,886 4.7 Other (2) — 1,320 1,320 — (97) (97) — 1,223 4.6 $ 1,900 $ 23,327 $ 25,227 $ (1,594) $ (2,327) $ (3,921) $ 306 $ 21,306 4.6 (1) Amounts also include any changes in intangible asset balances for the periods presented that resulted from foreign currency translation. (2) Other includes trademarks. The total amortization expense for intangible assets was $3.2 million and $6.7 million for the three and nine months ended October 31, 2020, respectively, and was $0.8 million and $1.1 million for the three and nine months ended October 31, 2019, respectively. Amortization expense related to the intangible assets is as follows (in thousands): Year Ending January 31: Remainder of 2021 $ 3,991 2022 15,240 2023 14,211 2024 14,211 2025 12,106 Thereafter 4,400 Total $ 64,159 |
Balance Sheet Components
Balance Sheet Components | 9 Months Ended |
Oct. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Balance Sheet Components | Balance Sheet Components Deferred Commissions Sales commissions earned by the sales force are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions for initial contracts are deferred and then amortized on a straight-line basis over a period of benefit that the Company has determined to be five years. The Company determined the period of benefit by taking into consideration its customer contracts, technology and other factors. Sales commissions for renewal contracts (which are not considered commensurate with sales commissions for new revenue contracts) are deferred and amortized on a straight-line basis over the related contractual renewal period. Amortization expense is included in sales and marketing expenses in the unaudited condensed consolidated statements of operations. Commissions earned and capitalized during the three and nine months ended October 31, 2020 were $13.1 million and $32.8 million, respectively, and during the three and nine months ended October 31, 2019 were $8.2 million and $24.0 million, respectively. Amortization expense for deferred commissions during the three and nine months ended October 31, 2020 were $6.9 million and $19.2 million, respectively, and for the three and nine months ended October 31, 2019 were $4.9 million and $13.6 million, respectively. Property and Equipment, Net The table below summarizes property and equipment which consists of the following (in thousands): October 31, 2020 January 31, 2020 Computer equipment and software $ 71,277 $ 56,758 Furniture, fixtures and equipment 1,078 1,028 Leasehold improvements 8,271 6,941 Equipment acquired under capital leases 17,615 11,687 Construction-in-progress 4,001 3,113 Total property and equipment, gross 102,242 79,527 Less accumulated depreciation and amortization (57,722) (44,648) Property and equipment, net $ 44,520 $ 34,879 Depreciation and amortization expense during the three and nine months ended October 31, 2020 totaled $4.8 million and $13.1 million, respectively, and during the three and nine months ended October 31, 2019 totaled $3.4 million and $9.7 million, respectively. This depreciation and amortization includes depreciation of assets recorded under capital leases of $1.3 million and $3.2 million for the three and nine months ended October 31, 2020, respectively, and $1.0 million and $2.6 million for the three and nine months ended October 31, 2019, respectively. Property and equipment located outside the U.S. was $16.8 million and $13.4 million as of October 31, 2020 and January 31, 2020, respectively. During the fiscal year ended January 31, 2020 the Company recorded a net gain of approximately $4.0 million as a result of the termination of its lease for its former corporate headquarters which included the gain on the reversal of deferred rent of $34.5 million, partially offset by the impairment of property and equipment of $20.7 million and cash payments associated with the termination and other fees of $9.8 million. Accrued Expenses an d Other Current Liabilities The table below summarizes accrued expenses and other current liabilities which consists of the following (in thousands): October 31, 2020 January 31, 2020 Capital leases, current $ 5,746 $ 4,316 Lease exit liability 4,164 — Federal, state and local taxes 5,565 3,932 Indemnity holdback related to acquisitions 1,710 1,573 Other 13,933 10,447 Accrued expenses and other current liabilities $ 31,118 $ 20,268 Accrued Compensation The table below summarizes accrued compensation which consists of the follo wing (in thousands): October 31, 2020 January 31, 2020 Accrued salaries and bonus $ 6,354 $ 8,312 Accrued commissions 9,672 11,280 Accrued vacation 4,556 3,906 Employee stock purchase plan 2,352 8,693 Payroll taxes 6,491 4,969 Accrued compensation $ 29,425 $ 37,160 |
Debt
Debt | 9 Months Ended |
Oct. 31, 2020 | |
Debt Disclosure [Abstract] | |
Debt | Debt Convertible Senior Notes In September 2020 the Company issued 0.125% convertible senior notes due September 15, 2025, for an aggregate principal amount of $575.0 million in a private placement to qualified institutional buyers . The Notes are senior unsecured obligations and interest is payable in cash in arrears at a fixed rate of 0.125% on March 15 and September 15 of each year, beginning on March 15, 2021 . The Notes will mature on September 15, 2025, unless repurchased, redeemed, or converted pursuant to the terms of the Notes. The terms of the Notes are governed by an Indenture (the Indenture) by and between the Company and U.S. Bank National Association , as trustee. The initial conversion rate of the Notes is 25.4113 shares of common stock per $1,000 principal amount of Notes , which is equivalent to an initial conversion price of approximately $39.35 per share of common stock. The conversion rate is subject to adjustment upon the occurrence of certain specified events in accordance with the Indenture. The Company may redeem for cash all or any portion of the Notes, at its option, on or after September 20, 2023 and prior to the 41 st scheduled trading day immediately preceding the maturity date, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereto, but excluding, the redemption date, if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides written notice of redemption. No sinking fund is provided for the Notes. Holders of the Notes may convert all or a portion of their Notes prior to the close of business on the business day immediately preceding June 15, 2025 in multiples of $1,000 principal amount, only under the following circumstances (the conditional conversion feature): • during any fiscal quarter commencing after January 31, 2021 and only during such fiscal quarter, if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price of the Notes on each applicable trading day; • during the five business day period after any five consecutive trading day period in which, for each trading day of that period, the trading price per $1,000 principal amount of the Notes for such trading day was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate of the Notes on each such trading day; • upon the Company’s notice that it is redeeming any Notes, the Notes the Company calls for redemption (or, at the Company’s election, all outstanding Notes) may be converted at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; or • upon the occurrence of specified corporate events, as described in the Indenture. On or after June 15, 2025 until the close of business on the second scheduled trading day immediately preceding the maturity date of the Notes, holders of the Notes may convert all or any portion of their Notes regardless of the foregoing conditions, and such conversions will settle upon maturity. Upon conversion, the Company will pay or deliver, as the case may be, either cash, shares of its common stock or a combination of cash and shares of its common stock, at the Company’s election. The Company intends to settle the principal amount of the Notes using cash. Holders of the Notes who convert their Notes in connection with such make-whole fundamental change or during the relevant redemption period (each as defined in the Indenture) are, under certain circumstances, entitled to an increase in the conversion rate. Additionally, upon the occurrence of a fundamental change (as defined in the Indenture) prior to the maturity date, subject to certain conditions, holders of the Notes may require the Company to repurchase all or a portion of the Notes for cash at a price equal to 100% of the principal amount of the Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the fundamental change repurchase date. As of October 31, 2020 the Notes are classified as noncurrent in the unaudited condensed consolidated balance sheets since the criteria for conversion was not met. The Company separated the Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of similar liabilities that do not have associated convertible features. The carrying amount of the equity component of $122.5 million, representing the conversion option, was determined by deducting the fair value of the liability component from the par value of the Notes. This difference represents the debt discount that is amortized to interest expense over the term of the Notes at an effective interest rate of 5.00%. The Company allocated the total amount of issuance costs incurred to the liability and equity components based on the respective values of the liability and equity components of the Notes. Issuance costs attributable to the liability component were recorded as a reduction to the convertible senior notes, net in the unaudited condensed consolidated balance sheets and are being amortized to interest expense over the term of the Notes using the effective interest rate method. The issuance costs attributable to the equity component were recorded as a reduction to additional paid-in capital in the unaudited condensed consolidated balance sheets. Upon issuance of the Notes, the Company recorded liability issuance costs of $13.2 million and equity issuance costs of $3.6 million. The net carrying amount of the liability component of the Notes recorded in convertible senior notes, net in the unaudited condensed consolidated balance sheets was as follows (in thousands): October 31, 2020 Principal $ 575,000 Unamortized debt discount (119,954) Unamortized issuance costs (12,961) Net carrying amount of the liability component $ 442,085 The net carrying amount of the equity component of the Notes recorded in additional paid-in capital in the unaudited condensed consolidated balance sheets was $118.7 million , net of issuance costs of $3.6 million as of October 31, 2020. The following table sets forth the interest expense related to the Notes recognized in interest income and other income (expense), net on the unaudited condensed consolidated statements of operations (in thousands): Three and Nine Months Ended October 31, 2020 Contractual interest expense $ 84 Amortization of debt discount 2,532 Amortization of issuance costs 230 Total interest expense related to the Notes $ 2,846 Capped Call Transactions In connection with the offering of the Notes, the Company entered into privately negotiated capped call transactions (the Capped Calls) with respect to its common stock at a cost of approximately $61.9 million. The Capped Calls each have an initial strike price of approximately $39.35 per share, subject to certain adjustments, which corresponds to the initial conversion price of the Notes. The Capped Calls cover, subject to anti-dilution adjustments, approximately 14.6 million shares of the Company’s common stock. The Capped Calls were purchased in order to reduce or offset the potential dilution to the Company’s common stock upon any conversion of the Notes, subject to a cap of $58.30 per share and certain adjustments. The Capped Calls settle in components with the last component scheduled to expire on September 11, 2025 and are subject to either adjustment or termination upon the occurrence of specified extraordinary events affecting the Company, including a merger event; a tender offer; and a nationalization, insolvency or delisting involving the Company. In addition, the Capped Calls are subject to certain specified additional disruption events that may give rise to a termination of the Capped Calls, including changes in law, failures to deliver, insolvency filings, and hedging disruptions. The Capped Calls are separate transactions and are not part of the terms of the Notes. The $61.9 million paid for the Capped Calls was included as a reduction to additional paid-in capital on the unaudited condensed consolidated balance sheets because they are not designated as separate derivative financial instruments. Wells Fargo Bank Revolving Line of Credit On September 4, 2020 the Company entered into the Wells Fargo Bank , National Association (Wells Fargo ) credit facility to provide for a senior secured revolving line of credit of up to $50.0 million with the right (subject to certain conditions) to add incremental revolving commitments of up to $50.0 million in the aggregate. The revolving line of credit provides a sublimit of up to $40.0 million to be available for the issuance of letters of credit. The outstanding balance, if any, is due at the maturity date in September 2023. Loans bear interest, at the Company’s option, at an annual rate based on LIBOR or a base rate. Loans based on LIBOR shall bear interest at a rate of LIBOR plus 1.75%. Loans based on the base rate shall bear interest at a rate of the base rate plus 0.75%. The Company is required to pay a commitment fee equal to 0.25% per annum on the undrawn portion available under the revolving line of credit. As of October 31, 2020 $50.0 million was available for borrowing under the revolving line of credit. As of October 31, 2020 the Company was in compliance with the financial covenants contained in the revolving line of credit. Silicon Valley Bank Revolving Line of Credit The Company maintained a revolving line of credit that matured in September 2020 and provided for aggregate borrowings of up to $50.0 million. On September 4, 2020 the Company paid all outstanding amounts owing under the Silicon Valley Bank revolving line of credit and terminated the credit facility. The Company continues to have unsecured letters of credit issued by Silicon Valley Bank in the face amount of $4.5 million outstanding as of October 31, 2020 . |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Oct. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Operating Leases The Company leases certain office and data center facilities which are operating leases that expire between fiscal 2020 to 2028. Certain of the Company's leases include options to renew with terms of up to five years. There have been no material changes to the Company's contractual lease obligations from those disclosed in Item 7 of the Company's Form 10-K for the year ended January 31, 2020 and Form 10-Q for the quarter ended April 30, 2020 except as noted herein. Rent expense during the three and nine months ended October 31, 2020 was $2.3 million and $11.8 million, respectively, and for the three and nine months ended October 31, 2019 was $3.6 million and $10.8 million, respectively. During the nine months ended October 31, 2020 the Company exited from its office space in San Mateo and a portion of its office space in Pleasanton, California and recorded lease exit charges of $7.6 million. During the three months ended October 31, 2020 a portion of the office space in Pleasanton, California was sublet to a third party. The office space in San Mateo is currently being marketed for sublease. These lease exit charges are included in general and administrative expense in the unaudited condensed consolidated statements of operations and represent the present value of remaining lease obligation on the cease use dates, that occurred during the second quarter of 2020, net of estimated sublease income. Warranties, Indemnification, and Contingent Obligations The Company's arrangements generally include provisions indemnifying customers against liabilities if their customer data is compromised due to a breach of information security, or if the Company's applications or services infringe a third-party's intellectual property rights. To date, the Company has not incurred any costs as a result of such indemnification and has not accrued any liabilities related to such obligations in the unaudited condensed consolidated financial statements. The Company enters into service level agreements with customers which warrant defined levels of uptime and support response times and permit those customers to receive credits for prepaid amounts in the event that those performance and response levels are not met. To date, the Company has not experienced any significa nt failures to meet defined levels of performance and response. In connection with the service level agreements, the Company has not incurred any significant costs and has not accrued any liabilities in the unaudited condensed consolidated financial statements. The Company's subscription services agreements also generally include a warranty that the service performs in accordance with the applicable specifications document. The Company's professional services are generally warranted to be performed in a professional manner and in a manner that will comply with the terms of the customer agreements. To date, the Company has not incurred any material costs associated with these warranties. |
Income Taxes
Income Taxes | 9 Months Ended |
Oct. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The Company determines its income tax provision for interim periods using an estimate of its annual effective tax rate adjusted for discrete items occurring during the periods presented. The Company recorded income tax benefits of $0.6 million and $0.5 million for the three and nine months ended October 31, 2020, respectively, and income tax benefits of $46 thousand and income tax expense of $0.9 million for the three and nine months ended October 31, 2019, respectively. During the three months ended October 31, 2020 income tax benefit increased by $0.6 million, as compared to the three months ended October 31, 2019, primarily due to the U.S. valuation allowance release as a result of the Stella Connect and Sense360 acquisitions. During the nine months ended October 31, 2020 i ncome tax expense decreased by $1.3 million, as compared to the nine months ended October 31, 2019, primarily due to the U.S. valuation allowance release as a result of the Stella Connect and Sense360 acquisitions, and excess tax benefits from stock-based compensation deductions in the United Kingdom. |
Equity Incentive Plans
Equity Incentive Plans | 9 Months Ended |
Oct. 31, 2020 | |
Equity [Abstract] | |
Equity Incentive Plans | Equity Incentive Plans Equity Incentive Plans The Plan activity is as follows: Nine Months Ended October 31, 2020 Opening balance 23,050,732 Shares authorized (1) 6,617,320 Options and RSUs granted (4,274,568) Cancelled shares 1,270,877 Ending balance 26,664,361 (1) Reflects an automatic increase to the number of shares of common stock reserved for issuance pursuant to future awards under the 2019 Plan, which annual increase is provided for in the 2019 Plan. The stock-based compensation expense by line item in the unaudited condensed consolidated statements of operations is summarized as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Cost of subscription revenue $ 870 $ 948 $ 2,725 $ 2,104 Cost of professional services revenue 2,552 2,708 7,954 5,955 Research and development expense 4,610 6,292 20,829 11,533 Sales and marketing expense 10,350 8,948 28,431 18,916 General and administrative expense 6,633 18,259 21,514 41,788 Total stock-based compensation $ 25,015 $ 37,155 $ 81,453 $ 80,296 Option Activity The following table summarizes the stock option activity: Options Outstanding Number of Shares Average Exercise Price per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Balance as of January 31, 2020 41,935,173 $ 5.47 7.29 $ 954,124 Options exercised (12,710,980) 4.52 304,448 Options cancelled or expired (722,413) 6.69 Balance as of October 31, 2020 28,501,780 $ 5.86 6.96 $ 643,884 Exercisable as of October 31, 2020 18,985,268 $ 5.51 6.55 $ 435,592 The weighted-average grant-date fair value of stock options granted during the nine months ended October 31, 2020 and 2019 was nil and $5.38 per share, respectively. The grant date fair value of stock options vested during the nine months ended October 31, 2020 and 2019 was $17.4 million and $28.1 million, respectively. As of October 31, 2020 total unrecognized compensation expense related to stock options was $26.8 million and will be recognized over a weighted-average remaining period of 1.8 years. Restricted Stock Units Activity The following table summarizes restricted stock unit activities: Restricted Stock Units Performance Based Restricted Stock Units Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Balance as of January 31, 2020 9,019,681 $ 16.07 826,333 $ 13.95 Stock units granted 3,924,623 24.49 349,945 22.30 Stock units vested (3,882,280) 15.84 — — Stock units cancelled and expired (481,264) 20.83 (67,200) 13.41 Balance as of October 31, 2020 8,580,760 $ 19.75 1,109,078 $ 16.62 As of October 31, 2020 total unrecognized compensation expense related to the RSUs was $135.5 million and will be recognized over a weighted-average remaining period of 2.2 years. Certain RSUs, in addition to the satisfaction of the service-based performance vesting conditions, also require the fulfillment of performance vesting conditions which include subscription revenue growth targets and a combination of subscription revenue growth and operating margin targets. Employee Stock Purchase Plan The fair value of each Employee Stock Purchase Plan (ESPP) share is estimated on the enrollment date of the offering period using the Black-Scholes-Merton option-pricing model and the assumptions noted in the following table: October 31, 2020 Risk-free interest rate 0.1% Expected volatility 67% Expected term (in years) 0.5 Expected dividend rate — The fair value of stock purchase rights granted under the ESPP during the six-month period from September 16, 2020 wa s $9.25 per share. As of October 31, 2020 the Company had $2.6 million of unrecognized compensation expense related to ESPP subscriptions that will be recognized over 0.4 years. |
Net Loss Per Share Attributable
Net Loss Per Share Attributable to Common Stockholders | 9 Months Ended |
Oct. 31, 2020 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share Attributable to Common Stockholders | Net Loss Per Share Attributable to Common Stockholders The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Net loss attributable to common stockholders $ (32,159) $ (39,620) $ (99,886) $ (80,463) Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 147,930 127,715 142,179 67,735 Net loss per share attributable to common stockholders, basic and diluted $ (0.22) $ (0.31) $ (0.70) $ (1.19) The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Stock options 28,502 46,466 28,502 46,466 Restricted stock units 9,690 9,659 9,690 9,659 ESPP 377 686 377 686 Unvested early exercises subject to repurchase — 7 — 7 Convertible senior notes (if-converted) 14,611 — 14,611 — Total 53,180 56,818 53,180 56,818 |
Description of Business and S_2
Description of Business and Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Oct. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Consolidation | Basis of Presentation and Consolidation The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated balance sheet as of January 31, 2020 included herein was derived from the audited financial statements as of that date but does not include all disclosures including certain notes required by GAAP on an annual reporting basis. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of operations, comprehensive loss, stockholders’ equity and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year or any future period. The unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements in its Annual Report on Form 10-K, for the year ended January 31, 2020. The Company's fiscal year ends on January 31. References to fiscal 2021, for example, refer to the fiscal year ending January 31, 2021. |
Use of Estimates | Use of Estimates The preparation of these unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the periods covered by the consolidated financial statements and accompanying notes. Such estimates include, but are not limited to revenue recognition, stock-based compensation expense, including estimation of the grant date fair value of the common stock, allowance for doubtful accounts, the fair value of the liability and equity components of the convertible senior notes, the assessment of the recoverability of long-lived assets (goodwill and identified intangible assets), lease exit charges and contingencies. The Company bases its estimates on historical experience and on assumptions that it believes are reasonable. The Company assesses these estimates on a regular basis; however, actual results could materially differ from these estimates. The COVID-19 pandemic has created and may continue to create significant uncertainty, which in the future may adversely impact the Company’s results of operations. The Company expects uncertainties around its key accounting estimates, including principally the allowance for doubtful accounts, to continue to evolve depending on the duration and degree of impact associated with the COVID-19 pandemic. The Company’s estimates may change as new events occur and additional information emerges, and such changes are recognized or disclosed in its unaudited condensed consolidated financial statements. |
JOBS Act Accounting Election | JOBS Act Accounting Election The Company is an emerging growth company (EGC), as defined in the Jumpstart Our Business Startups Act of 2012 (the JOBS Act). Under the JOBS Act, EGCs can delay adopting new or revised accounting standards issued subsequent to 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 earlier of the date the Company (i) is no longer an EGC or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, the Company’s unaudited condensed consolidated financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates. Effective January 31, 2021, the Company will no longer meet the definition of an EGC. Accordingly, as of January 31, 2021, the Company will be required to comply with the effective accounting standards as described in "Recently Issued Accounting Pronouncements," which the Company is currently evaluating. |
Concentrations of Credit Risk and Significant Customers | Concentrations of Credit Risk and Significant Customers Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents, marketable securities and trade and other receivables. For cash, cash equivalents and marketable securities, the Company is exposed to credit risk in the event of default to the extent of the amounts recorded on the unaudited condensed consolidated balance sheets. A majority of the cash balances are with U.S. banks and are insured to the extent defined by the Federal Deposit Insurance Corporation. The Company does not require collateral for trade receivabl es. No customer accounted for 10% or more of total revenues for the three and nine months end ed October 31, 2020 and 2019. No customer accounted for 10% or more of trade and other receivables, net as of October 31, 2020 and 2019 . |
Convertible Senior Notes | Convertible Senior Notes In September 2020 the Company issued 0.125% convertible senior notes due September 15, 2025 (the Notes), for an aggregate principal amount of $575.0 million to qualified institutional buyers . The Company accounts for these Notes as separate components of liability and equity. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In February 2016 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842), as amended, which requires lessees to put all leases on their balance sheets, whether operating or financing, while continuing to recognize the expenses on their income statements in a similar manner to current practice. The guidance states that a lessee would recognize a lease liability for the obligation to make lease payments and a right-to-use asset for the right to use the underlying asset for the lease term. In the fourth quarter of fiscal year 2021, the guidance will be required to be adopted by the Company for its fiscal year ending January 31, 2021. While the Company is evaluating the accounting, transition and disclosure requirements of the standard, the Company anticipates the recognition of additional assets and corresponding liabilities related to the leases on its balance sheets. In June 2016 the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments , as amended, which requires the measurement and recognition of expected credit losses for financial assets not held at fair value. ASU No. 2016-13 replaces the existing incurred loss impairment model with a forward-looking expected credit loss model which will result in earlier recognition of credit losses. In the fourth quarter of fiscal year 2021, the guidance will be required to be adopted by the Company for its fiscal year ending January 31, 2021. The Comp any is in the process of evaluating the impact of this accounting standard. In August 2017 the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities , as amended. The ASU is intended to better align an entity's risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. In the fourth quarter of fiscal year 2021, the guidance will be required to be adopted by the Company for its fiscal year ending January 31, 2021. The Company is in the process of evaluating the impact of this accounting standard. In August 2020 the FASB issued ASU No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , which simplifies the accounting for certain convertible instruments, amends the guidance on derivative scope exceptions for contracts in an entity's own equity, and modifies the guidance on diluted earnings per share calculations as a result of these changes. This new standard is effective for the Company for fiscal year ending January 31, 2023 and interim periods within that fiscal year. The amendment is to be adopted through either a fully retrospective or modified retrospective method of transition. Early adoption is permitted. The Company is in the process of evaluating the impact of this accounting standard. |
Revenue Recognition | Revenue Recognition Revenue is recognized when promised goods or services are transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The Company determines revenue recognition through the following steps: • identification of the contract, or contracts, with a customer; • identification of the performance obligations in the contract; • determination of the transaction price; • allocation of the transaction price to the performance obligations in the contract; and • recognition of revenue when, or as, the Company satisfies a performance obligation. Subscription Revenue Subscription revenue is derived from customers accessing the Company's proprietary hosted cloud application. The Company's customers do not have the ability to take possession of the software operating the cloud application. The contracted subscription terms are typically one year to three years. The Company recognizes subscription revenue ratably over the subscription term, commencing on the date the service is provisioned. Professional Services Revenue Professional services revenue consists of managed services and implementation and other services. These services are distinct from subscription revenue. Managed services support our customers by providing a range of ongoing services including program design, launch, enhancement, expansion and analytics. Managed services are a stand-ready obligation to perform these services over the term of the arrangement and as a result, revenues are recognized ratably over the term of the arrangement. Implementation services consist primarily of initial design, integration and configuration services. Other professional services include projects that enable customers to gain insightful business information through data analysis, and the Company's institute training programs. Implementation and other services revenue are recognized as services are performed. Contracts with Multiple Performance Obligations Most of the Company's contracts with customers contain multiple performance obligations. The Company's subscription services are sold for a broad range of amounts (the selling price is highly variable) and a representative standalone selling price (SSP) is not discernible from past transactions or other observable evidence. Standalone selling prices for professional services are estimated based upon observable transactions when those services are sold on a standalone basis. As a result, the SSP for subscription services included in a contract with multiple performance obligations is determined by applying a residual approach whereby performance obligations related to professional services within a contract are first allocated a portion of the transaction price based upon their respective SSPs, with the residual amount of transaction price allocated to subscription services. Contract Balances and Remaining Performance Obligations Contract assets represent revenue recognized for contracts that have not yet been invoiced to customers, typically for multi-year arrangements. Total contract assets were $4.0 million and $2.1 million as of October 31, 2020 and January 31, 2020, respectively. These balances are included within trade and other receivables, net, on the unaudited condensed consolidated balance sheets. Contract liabilities consist of deferred revenue. Revenue is deferred when the Company has the right to invoice in advance of services being provided. The Company recognized revenue o f $94.4 million and $224.1 million during the three and nine months ended October 31, 2020, respectively, and $77.4 million and $167.7 million for the three and nine months ended October 31, 2019, respectively, that were included in the deferred revenue balances at the beginning of the respective periods. The Company applied a practicable expedient allowing it not to disclose the amount of the transaction price allocated to the remaining performance obligations for contracts with an original expected duration of one year or less, which includes certain professional service contracts. Remaining performance obligations represent contra cted revenue that has not yet been recognized, and include deferred revenue, and amounts that will be invoiced and recognized as revenue in future periods. As of October 31, 2020 the Company's remaining performance obligations were $731.9 million, approximately 47% of which it expects to recognize as revenue over the next 12 months and the remaining balance will be recognized thereafter. As of January 31, 2020 the Company's remaining performance obligations were $679.0 million, approximately 51% of which it expects to recognize as revenue over the next 12 months and the remaining balance will be recognized thereafter. |
Deferred Commissions | Sales commissions earned by the sales force are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions for initial contracts are deferred and then amortized on a straight-line basis over a period of benefit that the Company has determined to be five years. The Company determined the period of benefit by taking into consideration its customer contracts, technology and other factors. Sales commissions for renewal contracts (which are not considered commensurate with sales commissions for new revenue contracts) are deferred and amortized on a straight-line basis over the related contractual renewal period. Amortization expense is included in sales and marketing expenses in the unaudited condensed consolidated statements of operations. |
Revenue (Tables)
Revenue (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from External Customers by Geographic Areas | The following table sets forth revenue by geographic region based on the billing address of the customers' parent for the periods presented (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 North America $ 93,512 $ 78,209 $ 268,944 $ 221,543 EMEA 17,414 16,771 51,641 48,104 Other 10,032 8,094 28,589 22,716 Total $ 120,958 $ 103,074 $ 349,174 $ 292,363 |
Fair Value of Assets and Liab_2
Fair Value of Assets and Liabilities (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following tables represents the fair value of assets and liabilities measured at fair value on a recurring basis using the above hierarchy (in thousands): October 31, 2020 January 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 356,737 $ — $ — $ 356,737 $ 92,272 $ — $ — $ 92,272 Corporate notes and bonds — 505 — 505 — — — — Commercial paper — 30,192 — 30,192 — 17,667 — 17,667 U.S. government and agency securities — 16,998 — 16,998 — 17,978 — 17,978 Total cash equivalents 356,737 47,695 — 404,432 92,272 35,645 — 127,917 Marketable securities: Corporate notes and bonds — 29,802 — 29,802 — 5,674 — 5,674 Commercial paper — 31,974 — 31,974 — 13,713 — 13,713 U.S. government and agency securities — 97,643 — 97,643 — 97,446 — 97,446 Total marketable securities — 159,419 — 159,419 — 116,833 — 116,833 Derivative assets — 623 — 623 — 683 — 683 Total assets measured at fair value $ 356,737 $ 207,737 $ — $ 564,474 $ 92,272 $ 153,161 $ — $ 245,433 Liabilities: Derivative liabilities $ — $ 794 $ — $ 794 $ — $ 342 $ — $ 342 Total liabilities measured at fair value $ — $ 794 $ — $ 794 $ — $ 342 $ — $ 342 |
Cash Equivalents and Marketab_2
Cash Equivalents and Marketable Securities (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Cash and Cash Equivalents [Abstract] | |
Cash, Cash Equivalents and Investments | As of October 31, 2020 cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 356,737 $ — $ — $ 356,737 Corporate notes and bonds 30,318 — (11) 30,307 Commercial paper 62,166 — — 62,166 U.S. government and agency securities 114,646 — (5) 114,641 Total $ 563,867 $ — $ (16) $ 563,851 Included in cash and cash equivalents $ 404,432 $ — $ — $ 404,432 Included in marketable securities $ 156,351 $ — $ (14) $ 156,337 Included in other noncurrent assets $ 3,084 $ — $ (2) $ 3,082 As of January 31, 2020 cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 92,272 $ — $ — $ 92,272 Corporate notes and bonds 5,665 9 — 5,674 Commercial paper 31,379 — — 31,379 U.S. government and agency securities 115,412 13 — 115,425 Total $ 244,728 $ 22 $ — $ 244,750 Included in cash and cash equivalents $ 127,917 $ — $ — $ 127,917 Included in marketable securities $ 116,811 $ 22 $ — $ 116,833 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Values and Gains (Losses) Associated with Derivative Instruments | The fair values of outstanding derivative instruments were as follows (in thousands): October 31, 2020 January 31, 2020 Derivative assets (recorded in prepaid expenses and other current assets): Foreign currency forward contracts designated as cash flow hedges $ 191 $ 384 Foreign currency forward contracts not designated as hedges 432 299 Derivative liabilities (recorded in accrued expenses and other current liabilities): Foreign currency forward contracts designated as cash flow hedges $ 397 $ 76 Foreign currency forward contracts not designated as hedges 397 266 Gains (losses) associated with foreign currency forward contracts designated as cash flow hedges were as follows (in thousands): Condensed Consolidated Statements of Operations and Statements of Comprehensive Loss (OCI) Locations Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Gains (losses) recognized in OCI (effective portion) Change in unrealized gains (losses) on cash flow hedges, net of tax $ 16 $ 374 $ (660) $ (237) Gains reclassified from OCI into income (effective portion) Revenues 166 131 459 350 Gains (losses) reclassified from OCI into income (effective portion) General and administrative 53 (365) (146) (504) Losses recognized in income (amount excluded from effectiveness testing and ineffective portion) Interest income and other income (expense), net (15) (42) (73) (105) |
Derivatives Not Designated as Hedging Instruments | Gains (losses) associated with foreign currency forward contracts not designated as cash flow hedges were as follows (in thousands): Condensed Consolidated Statements of Operations Location Three Months Ended October 31, Nine Months Ended October 31, Derivative Type 2020 2019 2020 2019 Foreign currency forward contracts not designated as hedges Interest income and other income (expense), net $ (214) $ 124 $ (1,331) $ 80 |
Information Related to Offsetting Arrangements, Derivative Assets | As of October 31, 2020 information related to offsetting arrangements was as follows (in thousands): Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Assets in the Condensed Consolidated Balance Sheets Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Net Assets Exposed Financial Instruments Cash Collateral Received Derivative assets: Counterparty A $ 5 $ — $ 5 $ (5) $ — $ — Counterparty B 618 — 618 (618) — — Total $ 623 $ — $ 623 $ (623) $ — $ — Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Net Liabilities Exposed Financial Instruments Cash Collateral Pledged Derivative liabilities: Counterparty A $ 29 $ — $ 29 $ (5) $ — $ 24 Counterparty B 765 — 765 (618) — 147 Total $ 794 $ — $ 794 $ (623) $ — $ 171 As of January 31, 2020 information related to offsetting arrangements was as follows (in thousands): Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Assets in the Condensed Consolidated Balance Sheets Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Net Assets Exposed Financial Instruments Cash Collateral Received Derivative assets: Counterparty A $ 102 $ — $ 102 $ (5) $ — $ 97 Counterparty B 581 — 581 (337) — 244 Total $ 683 $ — $ 683 $ (342) $ — $ 341 Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Net Liabilities Exposed Financial Instruments Cash Collateral Pledged Derivative liabilities: Counterparty A $ 5 $ — $ 5 $ (5) $ — $ — Counterparty B 337 — 337 (337) — — Total $ 342 $ — $ 342 $ (342) $ — $ — |
Information Related to Offsetting Arrangements, Derivative Liabilities | As of October 31, 2020 information related to offsetting arrangements was as follows (in thousands): Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Assets in the Condensed Consolidated Balance Sheets Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Net Assets Exposed Financial Instruments Cash Collateral Received Derivative assets: Counterparty A $ 5 $ — $ 5 $ (5) $ — $ — Counterparty B 618 — 618 (618) — — Total $ 623 $ — $ 623 $ (623) $ — $ — Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Net Liabilities Exposed Financial Instruments Cash Collateral Pledged Derivative liabilities: Counterparty A $ 29 $ — $ 29 $ (5) $ — $ 24 Counterparty B 765 — 765 (618) — 147 Total $ 794 $ — $ 794 $ (623) $ — $ 171 As of January 31, 2020 information related to offsetting arrangements was as follows (in thousands): Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Assets in the Condensed Consolidated Balance Sheets Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Net Assets Exposed Financial Instruments Cash Collateral Received Derivative assets: Counterparty A $ 102 $ — $ 102 $ (5) $ — $ 97 Counterparty B 581 — 581 (337) — 244 Total $ 683 $ — $ 683 $ (342) $ — $ 341 Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Net Liabilities Exposed Financial Instruments Cash Collateral Pledged Derivative liabilities: Counterparty A $ 5 $ — $ 5 $ (5) $ — $ — Counterparty B 337 — 337 (337) — — Total $ 342 $ — $ 342 $ (342) $ — $ — |
Business Combinations (Tables)
Business Combinations (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Business Combinations [Abstract] | |
Schedule of Acquisition Consideration and Related Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the purchase consideration, net of cash acquired, and the related fair values of the assets acquired and liabilities assumed (in thousands): Purchase Consideration, Net of Cash Acquired Net Liabilities Assumed Identifiable Intangible Assets Goodwill Sense360 $ 45,273 $ (351) $ 10,500 $ 35,124 Stella Connect 98,822 (3,478) 20,800 81,500 Voci 55,285 (1,259) 12,600 43,944 LivingLens 25,894 (406) 5,700 20,600 Crowdicity 15,865 (2,350) 4,811 13,404 Zingle 42,702 (665) 8,715 34,652 Promoter.io 1,694 (431) 900 1,225 Cooladata 7,346 (2,784) 4,600 5,530 Strikedeck 10,498 (439) 4,000 6,937 |
Component of Identifiable Intangible Assets Acquired in Connection with Acquisitions | The following table sets forth each component of identifiable intangible assets acquired in connection with the acquisitions (in thousands): Developed Technology Customer Relationships Other (1) Sense360 $ 5,000 $ 5,200 $ 300 Stella Connect 9,400 10,000 1,400 Voci 7,700 4,600 300 LivingLens 3,100 2,200 400 Crowdicity 2,406 2,105 300 Zingle 4,915 3,000 800 Promoter.io 700 — 200 Cooladata 4,600 — — Strikedeck 4,000 — — (1) Other includes trademarks and backlog. one |
Goodwill And Intangible Asset_2
Goodwill And Intangible Assets, Net (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | The changes in goodwill are as follows (in thousands): Balance as of January 31, 2019 $ 16,745 Acquisitions 61,748 Foreign currency exchange 831 Balance as of January 31, 2020 79,324 Acquisitions 181,168 Foreign currency exchange 70 Balance as of October 31, 2020 $ 260,562 |
Schedule of Finite-Lived Intangible Assets | The changes in intangible assets for fiscal 2021 and the net book value of intangible assets as of October 31, 2020 and January 31, 2020 were as follows (in thousands, except years): Intangible Assets, Gross Accumulated Amortization Intangible Assets, Net January 31, 2020 Identifiable Intangible Assets Acquired (1) October 31, 2020 January 31, 2020 Amortization Expense October 31, 2020 January 31, 2020 October 31, 2020 Weighted Average Remaining Useful Life (years) Developed technology $ 18,670 $ 25,208 $ 43,878 $ (3,473) $ (4,252) $ (7,725) $ 15,197 $ 36,153 4.4 Customer relationships 5,237 22,003 27,240 (351) (1,978) (2,329) 4,886 24,911 4.6 Other (2) 1,320 2,401 3,721 (97) (529) (626) 1,223 3,095 2.6 $ 25,227 $ 49,612 $ 74,839 $ (3,921) $ (6,759) $ (10,680) $ 21,306 $ 64,159 4.4 (1) Amounts also include any changes in intangible asset balances for the periods presented that resulted from foreign currency translation. (2) Other includes trademarks and backlog. The changes in intangible assets for fiscal 2020 and the net book value of intangible assets as of January 31, 2020 and January 31, 2019 were as follows (in thousands, except years): Intangible Assets, Gross Accumulated Amortization Intangible Assets, Net January 31, 2019 Identifiable Intangible Assets Acquired (1) January 31, 2020 January 31, 2019 Amortization Expense January 31, 2020 January 31, 2019 January 31, 2020 Weighted Average Remaining Useful Life (years) Developed technology $ 1,900 $ 16,770 $ 18,670 $ (1,594) $ (1,879) $ (3,473) $ 306 $ 15,197 4.5 Customer relationships — 5,237 5,237 — (351) (351) — 4,886 4.7 Other (2) — 1,320 1,320 — (97) (97) — 1,223 4.6 $ 1,900 $ 23,327 $ 25,227 $ (1,594) $ (2,327) $ (3,921) $ 306 $ 21,306 4.6 (1) Amounts also include any changes in intangible asset balances for the periods presented that resulted from foreign currency translation. (2) Other includes trademarks. |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | Amortization expense related to the intangible assets is as follows (in thousands): Year Ending January 31: Remainder of 2021 $ 3,991 2022 15,240 2023 14,211 2024 14,211 2025 12,106 Thereafter 4,400 Total $ 64,159 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Property, Plant and Equipment | The table below summarizes property and equipment which consists of the following (in thousands): October 31, 2020 January 31, 2020 Computer equipment and software $ 71,277 $ 56,758 Furniture, fixtures and equipment 1,078 1,028 Leasehold improvements 8,271 6,941 Equipment acquired under capital leases 17,615 11,687 Construction-in-progress 4,001 3,113 Total property and equipment, gross 102,242 79,527 Less accumulated depreciation and amortization (57,722) (44,648) Property and equipment, net $ 44,520 $ 34,879 |
Schedule of Accrued Expenses and Other Current Liabilities | The table below summarizes accrued expenses and other current liabilities which consists of the following (in thousands): October 31, 2020 January 31, 2020 Capital leases, current $ 5,746 $ 4,316 Lease exit liability 4,164 — Federal, state and local taxes 5,565 3,932 Indemnity holdback related to acquisitions 1,710 1,573 Other 13,933 10,447 Accrued expenses and other current liabilities $ 31,118 $ 20,268 |
Schedule of Accrued Compensation | The table below summarizes accrued compensation which consists of the follo wing (in thousands): October 31, 2020 January 31, 2020 Accrued salaries and bonus $ 6,354 $ 8,312 Accrued commissions 9,672 11,280 Accrued vacation 4,556 3,906 Employee stock purchase plan 2,352 8,693 Payroll taxes 6,491 4,969 Accrued compensation $ 29,425 $ 37,160 |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Debt Disclosure [Abstract] | |
Convertible Debt | The net carrying amount of the liability component of the Notes recorded in convertible senior notes, net in the unaudited condensed consolidated balance sheets was as follows (in thousands): October 31, 2020 Principal $ 575,000 Unamortized debt discount (119,954) Unamortized issuance costs (12,961) Net carrying amount of the liability component $ 442,085 |
Interest Income and Interest Expense Disclosure | The following table sets forth the interest expense related to the Notes recognized in interest income and other income (expense), net on the unaudited condensed consolidated statements of operations (in thousands): Three and Nine Months Ended October 31, 2020 Contractual interest expense $ 84 Amortization of debt discount 2,532 Amortization of issuance costs 230 Total interest expense related to the Notes $ 2,846 |
Equity Incentive Plans (Tables)
Equity Incentive Plans (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Equity [Abstract] | |
Schedule of Plan Activity | The Plan activity is as follows: Nine Months Ended October 31, 2020 Opening balance 23,050,732 Shares authorized (1) 6,617,320 Options and RSUs granted (4,274,568) Cancelled shares 1,270,877 Ending balance 26,664,361 |
Stock-Based Compensation Expense | The stock-based compensation expense by line item in the unaudited condensed consolidated statements of operations is summarized as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Cost of subscription revenue $ 870 $ 948 $ 2,725 $ 2,104 Cost of professional services revenue 2,552 2,708 7,954 5,955 Research and development expense 4,610 6,292 20,829 11,533 Sales and marketing expense 10,350 8,948 28,431 18,916 General and administrative expense 6,633 18,259 21,514 41,788 Total stock-based compensation $ 25,015 $ 37,155 $ 81,453 $ 80,296 |
Stock Option Activity | The following table summarizes the stock option activity: Options Outstanding Number of Shares Average Exercise Price per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Balance as of January 31, 2020 41,935,173 $ 5.47 7.29 $ 954,124 Options exercised (12,710,980) 4.52 304,448 Options cancelled or expired (722,413) 6.69 Balance as of October 31, 2020 28,501,780 $ 5.86 6.96 $ 643,884 Exercisable as of October 31, 2020 18,985,268 $ 5.51 6.55 $ 435,592 |
Restricted Stock Unit Activity | The following table summarizes restricted stock unit activities: Restricted Stock Units Performance Based Restricted Stock Units Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Balance as of January 31, 2020 9,019,681 $ 16.07 826,333 $ 13.95 Stock units granted 3,924,623 24.49 349,945 22.30 Stock units vested (3,882,280) 15.84 — — Stock units cancelled and expired (481,264) 20.83 (67,200) 13.41 Balance as of October 31, 2020 8,580,760 $ 19.75 1,109,078 $ 16.62 |
ESPP Valuation Assumptions | The fair value of each Employee Stock Purchase Plan (ESPP) share is estimated on the enrollment date of the offering period using the Black-Scholes-Merton option-pricing model and the assumptions noted in the following table: October 31, 2020 Risk-free interest rate 0.1% Expected volatility 67% Expected term (in years) 0.5 Expected dividend rate — |
Net Loss Per Share Attributab_2
Net Loss Per Share Attributable to Common Stockholders (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Earnings Per Share [Abstract] | |
Schedule of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders | The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Net loss attributable to common stockholders $ (32,159) $ (39,620) $ (99,886) $ (80,463) Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 147,930 127,715 142,179 67,735 Net loss per share attributable to common stockholders, basic and diluted $ (0.22) $ (0.31) $ (0.70) $ (1.19) |
Schedule of Potential Shares of Common Stock Equivalents Excluded From Computation of Diluted Net Loss Per Share Attributable to Common Stockholders | The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Stock options 28,502 46,466 28,502 46,466 Restricted stock units 9,690 9,659 9,690 9,659 ESPP 377 686 377 686 Unvested early exercises subject to repurchase — 7 — 7 Convertible senior notes (if-converted) 14,611 — 14,611 — Total 53,180 56,818 53,180 56,818 |
Description of Business and S_3
Description of Business and Summary of Significant Accounting Policies - Concentrations of Credit Risk and Significant Customers (Details) - Senior Convertible Debt | Sep. 30, 2020USD ($) |
Debt Instrument [Line Items] | |
Stated interest rate | 0.125% |
Principal amount of debt | $ 575,000,000 |
Revenue - Additional Informatio
Revenue - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | Jan. 31, 2020 | |
Disaggregation of Revenue [Line Items] | |||||
Contract with customer, liability | $ 94.4 | $ 77.4 | $ 224.1 | $ 167.7 | |
Geographic Concentration Risk | Revenue from Contract with Customer Benchmark | United States | |||||
Disaggregation of Revenue [Line Items] | |||||
Concentration risk, percentage | 73.00% | 73.00% | 73.00% | 72.00% | |
Trade And Other Receivables | |||||
Disaggregation of Revenue [Line Items] | |||||
Contract assets | $ 4 | $ 4 | $ 2.1 | ||
Minimum | |||||
Disaggregation of Revenue [Line Items] | |||||
Subscription contract term | 1 year | ||||
Maximum | |||||
Disaggregation of Revenue [Line Items] | |||||
Subscription contract term | 3 years |
Revenue - Performance Obligatio
Revenue - Performance Obligation (Details) - USD ($) $ in Millions | Oct. 31, 2020 | Jan. 31, 2020 |
Revenue from Contract with Customer [Abstract] | ||
Revenue, remaining performance obligation, amount | $ 731.9 | $ 679 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-02-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Revenue, remaining performance obligation, percentage | 51.00% | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 12 months | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-08-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Revenue, remaining performance obligation, percentage | 47.00% | |
Revenue, remaining performance obligation, expected timing of satisfaction, period | 12 months |
Revenue - Summary of Revenue by
Revenue - Summary of Revenue by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Disaggregation of Revenue [Line Items] | ||||
Revenues | $ 120,958 | $ 103,074 | $ 349,174 | $ 292,363 |
North America | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 93,512 | 78,209 | 268,944 | 221,543 |
EMEA | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 17,414 | 16,771 | 51,641 | 48,104 |
Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | $ 10,032 | $ 8,094 | $ 28,589 | $ 22,716 |
Fair Value of Assets and Liab_3
Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands | Oct. 31, 2020 | Jan. 31, 2020 |
Assets: | ||
Included in cash and cash equivalents | $ 404,432 | $ 127,917 |
Total marketable securities | 159,419 | 116,833 |
Derivative assets | 623 | 683 |
Total assets measured at fair value | 564,474 | 245,433 |
Liabilities: | ||
Derivative liabilities | 794 | 342 |
Total liabilities measured at fair value | 794 | 342 |
Level 1 | ||
Assets: | ||
Included in cash and cash equivalents | 356,737 | 92,272 |
Total marketable securities | 0 | 0 |
Derivative assets | 0 | 0 |
Total assets measured at fair value | 356,737 | 92,272 |
Liabilities: | ||
Derivative liabilities | 0 | 0 |
Total liabilities measured at fair value | 0 | 0 |
Level 2 | ||
Assets: | ||
Included in cash and cash equivalents | 47,695 | 35,645 |
Total marketable securities | 159,419 | 116,833 |
Derivative assets | 623 | 683 |
Total assets measured at fair value | 207,737 | 153,161 |
Liabilities: | ||
Derivative liabilities | 794 | 342 |
Total liabilities measured at fair value | 794 | 342 |
Level 3 | ||
Assets: | ||
Included in cash and cash equivalents | 0 | 0 |
Total marketable securities | 0 | 0 |
Derivative assets | 0 | 0 |
Total assets measured at fair value | 0 | 0 |
Liabilities: | ||
Derivative liabilities | 0 | 0 |
Total liabilities measured at fair value | 0 | 0 |
Corporate notes and bonds | ||
Assets: | ||
Total marketable securities | 29,802 | 5,674 |
Corporate notes and bonds | Level 1 | ||
Assets: | ||
Total marketable securities | 0 | 0 |
Corporate notes and bonds | Level 2 | ||
Assets: | ||
Total marketable securities | 29,802 | 5,674 |
Corporate notes and bonds | Level 3 | ||
Assets: | ||
Total marketable securities | 0 | 0 |
Commercial paper | ||
Assets: | ||
Total marketable securities | 31,974 | 13,713 |
Commercial paper | Level 1 | ||
Assets: | ||
Total marketable securities | 0 | 0 |
Commercial paper | Level 2 | ||
Assets: | ||
Total marketable securities | 31,974 | 13,713 |
Commercial paper | Level 3 | ||
Assets: | ||
Total marketable securities | 0 | 0 |
U.S. government and agency securities | ||
Assets: | ||
Total marketable securities | 97,643 | 97,446 |
U.S. government and agency securities | Level 1 | ||
Assets: | ||
Total marketable securities | 0 | 0 |
U.S. government and agency securities | Level 2 | ||
Assets: | ||
Total marketable securities | 97,643 | 97,446 |
U.S. government and agency securities | Level 3 | ||
Assets: | ||
Total marketable securities | 0 | 0 |
Money market funds | ||
Assets: | ||
Included in cash and cash equivalents | 356,737 | 92,272 |
Money market funds | Level 1 | ||
Assets: | ||
Included in cash and cash equivalents | 356,737 | 92,272 |
Money market funds | Level 2 | ||
Assets: | ||
Included in cash and cash equivalents | 0 | 0 |
Money market funds | Level 3 | ||
Assets: | ||
Included in cash and cash equivalents | 0 | 0 |
Corporate notes and bonds | ||
Assets: | ||
Included in cash and cash equivalents | 505 | 0 |
Corporate notes and bonds | Level 1 | ||
Assets: | ||
Included in cash and cash equivalents | 0 | 0 |
Corporate notes and bonds | Level 2 | ||
Assets: | ||
Included in cash and cash equivalents | 505 | 0 |
Corporate notes and bonds | Level 3 | ||
Assets: | ||
Included in cash and cash equivalents | 0 | 0 |
Commercial paper | ||
Assets: | ||
Included in cash and cash equivalents | 30,192 | 17,667 |
Commercial paper | Level 1 | ||
Assets: | ||
Included in cash and cash equivalents | 0 | 0 |
Commercial paper | Level 2 | ||
Assets: | ||
Included in cash and cash equivalents | 30,192 | 17,667 |
Commercial paper | Level 3 | ||
Assets: | ||
Included in cash and cash equivalents | 0 | 0 |
U.S. government and agency securities | ||
Assets: | ||
Included in cash and cash equivalents | 16,998 | 17,978 |
U.S. government and agency securities | Level 1 | ||
Assets: | ||
Included in cash and cash equivalents | 0 | 0 |
U.S. government and agency securities | Level 2 | ||
Assets: | ||
Included in cash and cash equivalents | 16,998 | 17,978 |
U.S. government and agency securities | Level 3 | ||
Assets: | ||
Included in cash and cash equivalents | $ 0 | $ 0 |
Fair Value of Assets and Liab_4
Fair Value of Assets and Liabilities - Narrative (Details) - USD ($) | Oct. 31, 2020 | Sep. 30, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of convertible debt | $ 591,700,000 | |
Senior Convertible Debt | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Principal amount of debt | $ 575,000,000 | |
Stated interest rate | 0.125% |
Cash Equivalents and Marketab_3
Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands | Oct. 31, 2020 | Jan. 31, 2020 |
Debt Securities, Available-for-sale [Line Items] | ||
Aggregate Fair Value | $ 156,337 | $ 116,833 |
Current marketable securities | 156,300 | |
Noncurrent marketable securities | 3,100 | |
Cash, Cash Equivalents and Marketable Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 563,867 | 244,728 |
Unrealized Gains | 0 | 22 |
Unrealized Losses | (16) | 0 |
Aggregate Fair Value | 563,851 | 244,750 |
Cash and Cash Equivalents | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 404,432 | 127,917 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | 0 | 0 |
Aggregate Fair Value | 404,432 | 127,917 |
Marketable Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 156,351 | 116,811 |
Unrealized Gains | 0 | 22 |
Unrealized Losses | (14) | 0 |
Aggregate Fair Value | 156,337 | 116,833 |
Other Noncurrent Assets | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 3,084 | |
Unrealized Gains | 0 | |
Unrealized Losses | (2) | |
Aggregate Fair Value | 3,082 | |
Money market funds | Cash, Cash Equivalents and Marketable Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 356,737 | 92,272 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | 0 | 0 |
Aggregate Fair Value | 356,737 | 92,272 |
U.S. government and agency securities | Cash, Cash Equivalents and Marketable Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 114,646 | 115,412 |
Unrealized Gains | 0 | 13 |
Unrealized Losses | (5) | 0 |
Aggregate Fair Value | 114,641 | 115,425 |
Commercial paper | Cash, Cash Equivalents and Marketable Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 62,166 | 31,379 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | 0 | 0 |
Aggregate Fair Value | 62,166 | 31,379 |
Corporate notes and bonds | Cash, Cash Equivalents and Marketable Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 30,318 | 5,665 |
Unrealized Gains | 0 | 9 |
Unrealized Losses | (11) | 0 |
Aggregate Fair Value | $ 30,307 | $ 5,674 |
Derivative Instruments - Additi
Derivative Instruments - Additional Information (Details) - Foreign currency forward - USD ($) $ in Millions | Jul. 31, 2020 | Apr. 30, 2020 | Oct. 31, 2020 | Jan. 31, 2020 |
Derivative [Line Items] | ||||
Gains (losses) expected to be reclassified out of OCI within the next 12 months | $ 0.2 | |||
Designated as hedging | Cash flow hedging | ||||
Derivative [Line Items] | ||||
Notional values | $ 4.2 | $ 5.8 | ||
Maturity term (not greater than) | 13 months | 13 months | ||
Not designated as hedging | ||||
Derivative [Line Items] | ||||
Notional values | $ 25.5 | $ 23.5 | ||
Maturity term (not greater than) | 13 months |
Derivative Instruments - Fair V
Derivative Instruments - Fair Values of Instruments (Details) - USD ($) $ in Thousands | Oct. 31, 2020 | Jan. 31, 2020 |
Derivatives, Fair Value [Line Items] | ||
Derivative assets | $ 623 | $ 683 |
Derivative liabilities | 794 | 342 |
Foreign currency forward | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 623 | 683 |
Derivative liabilities | 794 | 342 |
Designated as hedging | Foreign currency forward | Prepaid expenses and other current assets | Cash flow hedging | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 191 | 384 |
Designated as hedging | Foreign currency forward | Accrued expenses and other current liabilities | Cash flow hedging | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | 397 | 76 |
Not designated as hedging | Foreign currency forward | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative assets | 432 | 299 |
Not designated as hedging | Foreign currency forward | Accrued expenses and other current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative liabilities | $ 397 | $ 266 |
Derivative Instruments - Gains
Derivative Instruments - Gains and Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Change in unrealized gain (loss) on cash flow hedges | $ (203) | $ 608 | $ (973) | $ (83) |
Foreign currency forward | Interest income and other income (expense), net | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Gains (losses) associated with foreign currency forward contracts not designated as cash flow hedges | (214) | 124 | (1,331) | 80 |
Cash flow hedging | Foreign currency forward | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Change in unrealized gain (loss) on cash flow hedges | 16 | 374 | (660) | (237) |
Cash flow hedging | Foreign currency forward | Revenues | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Gains reclassified from OCI into income (effective portion) | 166 | 131 | 459 | 350 |
Cash flow hedging | Foreign currency forward | General and administrative expense | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Gains reclassified from OCI into income (effective portion) | 53 | (365) | (146) | (504) |
Cash flow hedging | Foreign currency forward | Interest income and other income (expense), net | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Losses recognized in income (amount excluded from effectiveness testing and ineffective portion) | $ (15) | $ (42) | $ (73) | $ (105) |
Derivative Instruments - Offset
Derivative Instruments - Offsetting Arrangements (Details) - USD ($) $ in Thousands | Oct. 31, 2020 | Jan. 31, 2020 |
Derivative assets: | ||
Net Amounts of Assets in the Condensed Consolidated Balance Sheets | $ 623 | $ 683 |
Derivative liabilities: | ||
Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets | 794 | 342 |
Foreign currency forward | ||
Derivative assets: | ||
Gross Amounts of Recognized Assets | 623 | 683 |
Gross Amounts Offset in the Condensed Consolidated Balance Sheets | 0 | 0 |
Net Amounts of Assets in the Condensed Consolidated Balance Sheets | 623 | 683 |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments | (623) | (342) |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received | 0 | 0 |
Net Assets Exposed | 0 | 341 |
Derivative liabilities: | ||
Gross Amounts of Recognized Liabilities | 794 | 342 |
Gross Amounts Offset in the Condensed Consolidated Balance Sheets | 0 | 0 |
Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets | 794 | 342 |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments | (623) | (342) |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received | 0 | 0 |
Net Liabilities Exposed | 171 | 0 |
Foreign currency forward | Counterparty A | ||
Derivative assets: | ||
Gross Amounts of Recognized Assets | 5 | 102 |
Gross Amounts Offset in the Condensed Consolidated Balance Sheets | 0 | 0 |
Net Amounts of Assets in the Condensed Consolidated Balance Sheets | 5 | 102 |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments | (5) | (5) |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received | 0 | 0 |
Net Assets Exposed | 0 | 97 |
Derivative liabilities: | ||
Gross Amounts of Recognized Liabilities | 29 | 5 |
Gross Amounts Offset in the Condensed Consolidated Balance Sheets | 0 | 0 |
Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets | 29 | 5 |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments | (5) | (5) |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received | 0 | 0 |
Net Liabilities Exposed | 24 | 0 |
Foreign currency forward | Counterparty B | ||
Derivative assets: | ||
Gross Amounts of Recognized Assets | 618 | 581 |
Gross Amounts Offset in the Condensed Consolidated Balance Sheets | 0 | 0 |
Net Amounts of Assets in the Condensed Consolidated Balance Sheets | 618 | 581 |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments | (618) | (337) |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received | 0 | 0 |
Net Assets Exposed | 0 | 244 |
Derivative liabilities: | ||
Gross Amounts of Recognized Liabilities | 765 | 337 |
Gross Amounts Offset in the Condensed Consolidated Balance Sheets | 0 | 0 |
Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets | 765 | 337 |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments | (618) | (337) |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received | 0 | 0 |
Net Liabilities Exposed | $ 147 | $ 0 |
Business Combinations - Additio
Business Combinations - Additional Information (Details) - USD ($) $ in Millions | Sep. 14, 2020 | Sep. 08, 2020 | May 01, 2020 | Feb. 19, 2020 | Oct. 03, 2019 | Sep. 23, 2019 | Jul. 15, 2019 | Jun. 17, 2019 | May 16, 2019 |
Sense360 | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash payments to acquire business | $ 45.7 | ||||||||
Stella Connect | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash payments to acquire business | $ 99.6 | ||||||||
Voci | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash payments to acquire business | $ 59.6 | ||||||||
LivingLens | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash payments to acquire business | $ 26.8 | ||||||||
Crowdicity | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash payments to acquire business | $ 16.6 | ||||||||
Zingle | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash payments to acquire business | $ 47.3 | ||||||||
Promoter.io | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash payments to acquire business | $ 2.3 | ||||||||
Cooladata | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash payments to acquire business | $ 7.6 | ||||||||
Strikedeck | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash payments to acquire business | $ 11 |
Business Combinations - Schedul
Business Combinations - Schedule of Acquisition Consideration and Related Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Apr. 30, 2020 | Oct. 31, 2020 | |
Business Acquisition [Line Items] | ||
Goodwill | $ 61,748 | $ 181,168 |
Sense360 | ||
Business Acquisition [Line Items] | ||
Purchase Consideration, Net of Cash Acquired | 45,273 | |
Net Liabilities Assumed | (351) | |
Identifiable Intangible Assets | 10,500 | |
Goodwill | 35,124 | |
Stella Connect | ||
Business Acquisition [Line Items] | ||
Purchase Consideration, Net of Cash Acquired | 98,822 | |
Net Liabilities Assumed | (3,478) | |
Identifiable Intangible Assets | 20,800 | |
Goodwill | 81,500 | |
Voci | ||
Business Acquisition [Line Items] | ||
Purchase Consideration, Net of Cash Acquired | 55,285 | |
Net Liabilities Assumed | (1,259) | |
Identifiable Intangible Assets | 12,600 | |
Goodwill | 43,944 | |
LivingLens | ||
Business Acquisition [Line Items] | ||
Purchase Consideration, Net of Cash Acquired | 25,894 | |
Net Liabilities Assumed | (406) | |
Identifiable Intangible Assets | 5,700 | |
Goodwill | 20,600 | |
Crowdicity | ||
Business Acquisition [Line Items] | ||
Purchase Consideration, Net of Cash Acquired | 15,865 | |
Net Liabilities Assumed | (2,350) | |
Identifiable Intangible Assets | 4,811 | |
Goodwill | 13,404 | |
Zingle | ||
Business Acquisition [Line Items] | ||
Purchase Consideration, Net of Cash Acquired | 42,702 | |
Net Liabilities Assumed | (665) | |
Identifiable Intangible Assets | 8,715 | |
Goodwill | 34,652 | |
Promoter.io | ||
Business Acquisition [Line Items] | ||
Purchase Consideration, Net of Cash Acquired | 1,694 | |
Net Liabilities Assumed | (431) | |
Identifiable Intangible Assets | 900 | |
Goodwill | 1,225 | |
Cooladata | ||
Business Acquisition [Line Items] | ||
Purchase Consideration, Net of Cash Acquired | 7,346 | |
Net Liabilities Assumed | (2,784) | |
Identifiable Intangible Assets | 4,600 | |
Goodwill | 5,530 | |
Strikedeck | ||
Business Acquisition [Line Items] | ||
Purchase Consideration, Net of Cash Acquired | 10,498 | |
Net Liabilities Assumed | (439) | |
Identifiable Intangible Assets | 4,000 | |
Goodwill | $ 6,937 |
Business Combinations - Compone
Business Combinations - Component of Identifiable Intangible Assets Acquired in Connection with Acquisitions (Details) $ in Thousands | 9 Months Ended |
Oct. 31, 2020USD ($) | |
Developed technology | |
Business Acquisition [Line Items] | |
Useful life (years) | 5 years |
Customer relationships | |
Business Acquisition [Line Items] | |
Useful life (years) | 5 years |
Other | Minimum | |
Business Acquisition [Line Items] | |
Useful life (years) | 1 year |
Other | Maximum | |
Business Acquisition [Line Items] | |
Useful life (years) | 5 years |
Sense360 | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | $ 10,500 |
Sense360 | Developed technology | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 5,000 |
Sense360 | Customer relationships | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 5,200 |
Sense360 | Other | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 300 |
Stella Connect | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 20,800 |
Stella Connect | Developed technology | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 9,400 |
Stella Connect | Customer relationships | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 10,000 |
Stella Connect | Other | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 1,400 |
Voci | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 12,600 |
Voci | Developed technology | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 7,700 |
Voci | Customer relationships | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 4,600 |
Voci | Other | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 300 |
LivingLens | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 5,700 |
LivingLens | Developed technology | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 3,100 |
LivingLens | Customer relationships | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 2,200 |
LivingLens | Other | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 400 |
Crowdicity | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 4,811 |
Crowdicity | Developed technology | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 2,406 |
Crowdicity | Customer relationships | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 2,105 |
Crowdicity | Other | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 300 |
Zingle | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 8,715 |
Zingle | Developed technology | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 4,915 |
Zingle | Customer relationships | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 3,000 |
Zingle | Other | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 800 |
Promoter.io | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 900 |
Promoter.io | Developed technology | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 700 |
Promoter.io | Other | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 200 |
Cooladata | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 4,600 |
Cooladata | Developed technology | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 4,600 |
Cooladata | Other | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 0 |
Strikedeck | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 4,000 |
Strikedeck | Developed technology | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | 4,000 |
Strikedeck | Other | |
Business Acquisition [Line Items] | |
Identifiable intangible assets | $ 0 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets, Net - Changes in Goodwill (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Apr. 30, 2020 | Oct. 31, 2020 | |
Goodwill [Roll Forward] | ||
Goodwill, beginning balance | $ 79,324 | $ 79,324 |
Acquisitions | 61,748 | 181,168 |
Foreign currency exchange | $ 831 | 70 |
Goodwill, ending balance | $ 260,562 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets, Net - Schedule Intangible Assets, Net (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Oct. 31, 2020 | Apr. 30, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | Jan. 31, 2020 | Jan. 31, 2019 | |
Intangible Assets, Gross [Roll Forward] | |||||||
Beginning of period | $ 25,227 | $ 25,227 | $ 1,900 | $ 1,900 | |||
Identifiable Intangible Assets Acquired | 49,612 | 23,327 | |||||
End of period | $ 74,839 | 74,839 | 25,227 | ||||
Accumulated Amortization [Roll Forward] | |||||||
Beginning of period | (3,921) | (3,921) | (1,594) | (1,594) | |||
Amortization of Intangible Assets | (6,759) | (2,327) | |||||
End of period | (10,680) | (10,680) | (3,921) | ||||
Intangible assets, net | 64,159 | $ 64,159 | $ 21,306 | $ 306 | |||
Intangible assets, estimated useful life | 4 years 4 months 24 days | 4 years 7 months 6 days | |||||
Amortization expense of intangible assets | 3,200 | $ 800 | $ 6,700 | 1,100 | |||
Developed technology | |||||||
Intangible Assets, Gross [Roll Forward] | |||||||
Beginning of period | 18,670 | 18,670 | 1,900 | $ 1,900 | |||
Identifiable Intangible Assets Acquired | 25,208 | 16,770 | |||||
End of period | 43,878 | 43,878 | 18,670 | ||||
Accumulated Amortization [Roll Forward] | |||||||
Beginning of period | $ (3,473) | (3,473) | (1,594) | (1,594) | |||
Amortization of Intangible Assets | (4,252) | (1,879) | |||||
End of period | (7,725) | (7,725) | (3,473) | ||||
Intangible assets, net | 36,153 | $ 36,153 | 15,197 | 306 | |||
Intangible assets, estimated useful life | 4 years 6 months | 4 years 4 months 24 days | |||||
Customer relationships | |||||||
Intangible Assets, Gross [Roll Forward] | |||||||
Beginning of period | $ 5,237 | $ 5,237 | 0 | 0 | |||
Identifiable Intangible Assets Acquired | 22,003 | 5,237 | |||||
End of period | 27,240 | 27,240 | 5,237 | ||||
Accumulated Amortization [Roll Forward] | |||||||
Beginning of period | $ (351) | (351) | 0 | 0 | |||
Amortization of Intangible Assets | (1,978) | (351) | |||||
End of period | (2,329) | (2,329) | (351) | ||||
Intangible assets, net | 24,911 | $ 24,911 | 4,886 | 0 | |||
Intangible assets, estimated useful life | 4 years 8 months 12 days | 4 years 7 months 6 days | |||||
Other | |||||||
Intangible Assets, Gross [Roll Forward] | |||||||
Beginning of period | $ 1,320 | $ 1,320 | |||||
Identifiable Intangible Assets Acquired | 2,401 | ||||||
End of period | 3,721 | 3,721 | 1,320 | ||||
Accumulated Amortization [Roll Forward] | |||||||
Beginning of period | (97) | (97) | |||||
Amortization of Intangible Assets | (529) | ||||||
End of period | (626) | (626) | (97) | ||||
Intangible assets, net | $ 3,095 | $ 3,095 | 1,223 | ||||
Intangible assets, estimated useful life | 2 years 7 months 6 days | ||||||
Other | |||||||
Intangible Assets, Gross [Roll Forward] | |||||||
Beginning of period | 1,320 | $ 1,320 | 0 | 0 | |||
Identifiable Intangible Assets Acquired | 1,320 | ||||||
End of period | 1,320 | ||||||
Accumulated Amortization [Roll Forward] | |||||||
Beginning of period | $ (97) | $ (97) | $ 0 | 0 | |||
Amortization of Intangible Assets | (97) | ||||||
End of period | (97) | ||||||
Intangible assets, net | $ 1,223 | $ 0 | |||||
Intangible assets, estimated useful life | 4 years 7 months 6 days |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets, Net - Future Amortization Expense (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Oct. 31, 2020 | Jan. 31, 2020 | Jan. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization of Intangible Assets | $ 6,759 | $ 2,327 | |
Remainder of 2021 | 3,991 | ||
2022 | 15,240 | ||
2023 | 14,211 | ||
2024 | 14,211 | ||
2025 | 12,106 | ||
Thereafter | 4,400 | ||
Total | $ 64,159 | $ 21,306 | $ 306 |
Balance Sheet Components - Addi
Balance Sheet Components - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Oct. 31, 2020 | Apr. 30, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | Jan. 31, 2020 | |
Property, Plant and Equipment [Line Items] | ||||||
Sales commissions amortization period | 5 years | 5 years | ||||
Deferred commissions earned and capitalized | $ 13,100 | $ 8,200 | $ 32,800 | $ 24,000 | ||
Amortization of deferred commissions | 6,900 | 4,900 | 19,200 | 13,600 | ||
Depreciation and amortization expense | 4,800 | 3,400 | 13,100 | 9,700 | ||
Capital lease amortization expense | 1,300 | $ 1,000 | 3,200 | $ 2,600 | ||
Property and equipment, net | 44,520 | 44,520 | $ 34,879 | |||
Gain on termination of lease | $ 4,000 | |||||
Gain on reversal of deferred rent | 34,500 | |||||
Impairment of property and equipment | 20,700 | |||||
Cash payments associated with termination and other fees | $ 9,800 | |||||
Non-US | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Property and equipment, net | $ 16,800 | $ 16,800 | $ 13,400 |
Balance Sheet Components - Summ
Balance Sheet Components - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Oct. 31, 2020 | Jan. 31, 2020 |
Property, Plant and Equipment [Line Items] | ||
Total property and equipment, gross | $ 102,242 | $ 79,527 |
Less accumulated depreciation and amortization | (57,722) | (44,648) |
Property and equipment, net | 44,520 | 34,879 |
Computer equipment and software | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment, gross | 71,277 | 56,758 |
Furniture, fixtures and equipment | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment, gross | 1,078 | 1,028 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment, gross | 8,271 | 6,941 |
Equipment acquired under capital leases | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment, gross | 17,615 | 11,687 |
Construction-in-progress | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment, gross | $ 4,001 | $ 3,113 |
Balance Sheet Components - Accr
Balance Sheet Components - Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands | Oct. 31, 2020 | Jan. 31, 2020 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Capital leases, current | $ 5,746 | $ 4,316 |
Lease exit liability | 4,164 | 0 |
Federal, state and local taxes | 5,565 | 3,932 |
Indemnity holdback related to acquisitions | 1,710 | 1,573 |
Other | 13,933 | 10,447 |
Accrued expenses and other current liabilities | $ 31,118 | $ 20,268 |
Balance Sheet Components - Su_2
Balance Sheet Components - Summary of Accrued Compensation (Details) - USD ($) $ in Thousands | Oct. 31, 2020 | Jan. 31, 2020 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accrued salaries and bonus | $ 6,354 | $ 8,312 |
Accrued commissions | 9,672 | 11,280 |
Accrued vacation | 4,556 | 3,906 |
Employee stock purchase plan | 2,352 | 8,693 |
Payroll taxes | 6,491 | 4,969 |
Accrued compensation | $ 29,425 | $ 37,160 |
Debt- Narrative (Details)
Debt- Narrative (Details) $ / shares in Units, shares in Millions | Sep. 04, 2020USD ($) | Sep. 30, 2020USD ($)trading_day$ / shares | Oct. 31, 2020USD ($)$ / sharesshares | Oct. 31, 2019USD ($) | Jan. 31, 2020USD ($) |
Debt Instrument [Line Items] | |||||
Liability component issuance costs | $ 13,200,000 | ||||
Equity component issuance costs | $ 3,600,000 | $ 3,600,000 | |||
Indexed shares | shares | 14.6 | ||||
Purchase of capped calls related to convertible senior notes | $ 61,870,000 | $ 0 | |||
Capped call | |||||
Debt Instrument [Line Items] | |||||
Initial strike price (in dollars per share) | $ / shares | $ 39.35 | ||||
Option cap price (in dollars per share) | $ / shares | $ 58.30 | ||||
Purchase of capped calls related to convertible senior notes | $ 61,900,000 | ||||
Revolving Credit Facility | |||||
Debt Instrument [Line Items] | |||||
Maximum borrowing capacity | $ 50,000,000 | 50,000,000 | $ 50,000,000 | ||
Amount of right to add revolving commitments | $ 50,000,000 | ||||
Commitment fee percentage | 0.25% | ||||
Current borrowing capacity | 50,000,000 | ||||
Revolving Credit Facility | LIBOR | |||||
Debt Instrument [Line Items] | |||||
Variable interest rate | 1.75% | ||||
Revolving Credit Facility | Base Rate | |||||
Debt Instrument [Line Items] | |||||
Variable interest rate | 0.75% | ||||
Standby Letters of Credit | |||||
Debt Instrument [Line Items] | |||||
Maximum borrowing capacity | $ 40,000,000 | ||||
Standby Letters of Credit | Office Lease Facilities | |||||
Debt Instrument [Line Items] | |||||
Standby letters of credit | 4,500,000 | ||||
Senior Convertible Debt | |||||
Debt Instrument [Line Items] | |||||
Stated interest rate | 0.125% | ||||
Principal amount of debt | $ 575,000,000 | ||||
Initial conversion ratio | 25.4113 | ||||
Initial conversion price (in dollars per share) | $ / shares | $ 39.35 | ||||
Carrying amount of equity component | $ 122,500,000 | ||||
Effective interest rate | 5.00% | ||||
Senior Convertible Debt | Additional Paid-In Capital | |||||
Debt Instrument [Line Items] | |||||
Carrying amount of equity component | $ 118,700,000 | ||||
Senior Convertible Debt | Debt Instrument, Redemption, Period One | |||||
Debt Instrument [Line Items] | |||||
Threshold scheduled trading days | trading_day | 41 | ||||
Threshold trading days | trading_day | 20 | ||||
Threshold consecutive trading days | trading_day | 30 | ||||
Senior Convertible Debt | Minimum | Debt Instrument, Redemption, Period One | |||||
Debt Instrument [Line Items] | |||||
Redemption price percentage | 100.00% | ||||
Senior Convertible Debt | Minimum | Debt Instrument, Redemption, Period Two | |||||
Debt Instrument [Line Items] | |||||
Threshold percentage of stock price trigger | 98.00% | ||||
Threshold trading days | trading_day | 5 | ||||
Threshold consecutive trading days | trading_day | 5 | ||||
Senior Convertible Debt | Maximum | Debt Instrument, Redemption, Period One | |||||
Debt Instrument [Line Items] | |||||
Threshold percentage of stock price trigger | 130.00% | ||||
Senior Convertible Debt | Maximum | Debt Instrument, Redemption, Period Two | |||||
Debt Instrument [Line Items] | |||||
Threshold percentage of stock price trigger | 130.00% | ||||
Threshold trading days | trading_day | 20 | ||||
Threshold consecutive trading days | trading_day | 30 |
Debt - Liability Component of C
Debt - Liability Component of Convertible Senior Notes (Details) - Senior Convertible Debt $ in Thousands | Oct. 31, 2020USD ($) |
Debt Instrument [Line Items] | |
Principal | $ 575,000 |
Unamortized debt discount | (119,954) |
Unamortized issuance costs | (12,961) |
Net carrying amount of the liability component | $ 442,085 |
Debt - Components of Interest E
Debt - Components of Interest Expense (Details) - Senior Notes - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Oct. 31, 2020 | Oct. 31, 2020 | |
Debt Instrument [Line Items] | ||
Contractual interest expense | $ 84 | $ 84 |
Amortization of debt discount | 2,532 | 2,532 |
Amortization of issuance costs | 230 | 230 |
Interest Expense, Debt | $ 2,846 | $ 2,846 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Details) - USD ($) | Sep. 04, 2020 | Oct. 31, 2020 | Apr. 30, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | Jan. 31, 2020 |
Loss Contingencies [Line Items] | |||||||
Proceeds from revolving line of credit | $ 43,000,000 | $ 0 | |||||
Operating lease renewal term option | 5 years | 5 years | |||||
Rent expense | $ 2,300,000 | $ 3,600,000 | $ 11,800,000 | $ 10,800,000 | |||
Lease exit costs | $ (4,000,000) | ||||||
General and administrative expense | San Mateo and Pleasanton, California | |||||||
Loss Contingencies [Line Items] | |||||||
Lease exit costs | 7,600,000 | ||||||
Revolving Credit Facility | |||||||
Loss Contingencies [Line Items] | |||||||
Maximum borrowing capacity | $ 50,000,000 | 50,000,000 | 50,000,000 | $ 50,000,000 | |||
Current borrowing capacity | 50,000,000 | 50,000,000 | |||||
Amount of right to add revolving commitments | $ 50,000,000 | ||||||
Commitment fee percentage | 0.25% | ||||||
Revolving Credit Facility | LIBOR | |||||||
Loss Contingencies [Line Items] | |||||||
Variable interest rate | 1.75% | ||||||
Revolving Credit Facility | Base Rate | |||||||
Loss Contingencies [Line Items] | |||||||
Variable interest rate | 0.75% | ||||||
Standby Letters of Credit | |||||||
Loss Contingencies [Line Items] | |||||||
Maximum borrowing capacity | $ 40,000,000 | ||||||
Standby Letters of Credit | Office Lease Facilities | |||||||
Loss Contingencies [Line Items] | |||||||
Standby letters of credit | $ 4,500,000 | $ 4,500,000 |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Income Tax Disclosure [Abstract] | ||||
Provision for (benefits from) income taxes | $ (633) | $ (46) | $ (459) | $ 873 |
StellaService and Sense360 acquisitions | ||||
Operating Loss Carryforwards [Line Items] | ||||
Change in deferred tax assets valuation | $ 600 | |||
United Kingdom | ||||
Operating Loss Carryforwards [Line Items] | ||||
Excess tax benefits from stock based compensation | $ 1,300 |
Equity Incentive Plans - Additi
Equity Incentive Plans - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions | 9 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Weighted average grant date fair value, options granted in period (in usd per share) | $ 0 | $ 5.38 |
Fair value of options vested during period | $ 17.4 | $ 28.1 |
Unrecognized stock based compensation expense | $ 26.8 | |
Stock options | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Recognition period, unrecognized stock based compensation expense | 1 year 9 months 18 days | |
Restricted stock units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Recognition period, unrecognized stock based compensation expense | 2 years 2 months 12 days | |
Unrecognized compensation expense | $ 135.5 | |
Weighted average grant date fair value, stock units granted (in usd per share) | $ 24.49 | |
ESPP | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Recognition period, unrecognized stock based compensation expense | 4 months 24 days | |
Unrecognized compensation expense | $ 2.6 | |
Weighted average grant date fair value, stock units granted (in usd per share) | $ 9.25 | |
Performance Based Restricted Stock Units | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Weighted average grant date fair value, stock units granted (in usd per share) | $ 22.30 |
Equity Incentive Plans - Schedu
Equity Incentive Plans - Schedule of 2019 Plan Activity (Details) - 2019 Equity Incentive Plan | 9 Months Ended |
Oct. 31, 2020shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding [Roll Forward] | |
Equity Incentive Plan Shares, beginning balance (in shares) | 23,050,732 |
Shares authorized (in shares) | 6,617,320 |
Options and RSUs granted (in shares) | (4,274,568) |
Cancelled shares (in shares) | 1,270,877 |
Equity Incentive Plan Shares, ending balance (in shares) | 26,664,361 |
Equity Incentive Plans - Stock-
Equity Incentive Plans - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation | $ 25,015 | $ 37,155 | $ 81,453 | $ 80,296 |
Research and development expense | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation | 4,610 | 6,292 | 20,829 | 11,533 |
Sales and marketing expense | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation | 10,350 | 8,948 | 28,431 | 18,916 |
General and administrative expense | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation | 6,633 | 18,259 | 21,514 | 41,788 |
Subscription | Cost of Sales | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation | 870 | 948 | 2,725 | 2,104 |
Professional services | Cost of Sales | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation | $ 2,552 | $ 2,708 | $ 7,954 | $ 5,955 |
Equity Incentive Plans - Stock
Equity Incentive Plans - Stock Option Activity (Details) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended |
Apr. 30, 2020USD ($)$ / sharesshares | Oct. 31, 2020USD ($)$ / sharesshares | |
Number of Shares | ||
Options outstanding, beginning balance (in shares) | shares | 41,935,173 | 41,935,173 |
Options exercised (in shares) | shares | (12,710,980) | |
Options cancelled or expired (in shares) | shares | (722,413) | |
Options outstanding, ending balance (in shares) | shares | 28,501,780 | |
Options exercisable (in shares) | shares | 18,985,268 | |
Average Exercise Price per Share | ||
Options outstanding, beginning balance, average exercise price (in usd per share) | $ / shares | $ 5.47 | $ 5.47 |
Options exercised, weighted average exercise price (in usd per share) | $ / shares | 4.52 | |
Options cancelled or expired, weighted average exercise price (in usd per share) | $ / shares | 6.69 | |
Options outstanding, ending balance, average exercise price (in usd per share) | $ / shares | 5.86 | |
Options exercisable, average exercise price (in usd per share) | $ / shares | $ 5.51 | |
Weighted average remaining contractual term, options outstanding | 7 years 3 months 14 days | 6 years 11 months 15 days |
Weighted average remaining contractual term, options exercisable | 6 years 6 months 18 days | |
Aggregate intrinsic value, options outstanding | $ | $ 954,124 | $ 954,124 |
Aggregate intrinsic value, exercises in period | $ | 304,448 | |
Aggregate intrinsic value, options outstanding | $ | 643,884 | |
Aggregate intrinsic value, options exercisable | $ | $ 435,592 |
Equity Incentive Plans - Restri
Equity Incentive Plans - Restricted Stock Activity (Details) | 9 Months Ended |
Oct. 31, 2020$ / sharesshares | |
Restricted stock units | |
Number of Shares | |
Stock units outstanding, beginning balance (in shares) | shares | 9,019,681 |
Stock units granted (in shares) | shares | 3,924,623 |
Stock units vested (in shares) | shares | (3,882,280) |
Stock units cancelled and expired (in units) | shares | (481,264) |
Stock units outstanding, ending balance (in shares) | shares | 8,580,760 |
Weighted Average Grant Date Fair Value | |
Weighted average grant date fair value, stock units outstanding, beginning balance (in usd per share) | $ / shares | $ 16.07 |
Weighted average grant date fair value, stock units granted (in usd per share) | $ / shares | 24.49 |
Weighted average grant date fair value, stock units vested (in usd per share) | $ / shares | 15.84 |
Weighted average grant date fair value, stock units cancelled or expired (in usd per share) | $ / shares | 20.83 |
Weighted average grant date fair value, stock units outstanding, ending balance (in usd per share) | $ / shares | $ 19.75 |
Performance Based Restricted Stock Units | |
Number of Shares | |
Stock units outstanding, beginning balance (in shares) | shares | 826,333 |
Stock units granted (in shares) | shares | 349,945 |
Stock units vested (in shares) | shares | 0 |
Stock units cancelled and expired (in units) | shares | (67,200) |
Stock units outstanding, ending balance (in shares) | shares | 1,109,078 |
Weighted Average Grant Date Fair Value | |
Weighted average grant date fair value, stock units outstanding, beginning balance (in usd per share) | $ / shares | $ 13.95 |
Weighted average grant date fair value, stock units granted (in usd per share) | $ / shares | 22.30 |
Weighted average grant date fair value, stock units vested (in usd per share) | $ / shares | 0 |
Weighted average grant date fair value, stock units cancelled or expired (in usd per share) | $ / shares | 13.41 |
Weighted average grant date fair value, stock units outstanding, ending balance (in usd per share) | $ / shares | $ 16.62 |
Equity Incentive Plans - Valuat
Equity Incentive Plans - Valuation Assumptions (Details) - ESPP | 9 Months Ended |
Oct. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Risk-free interest rate | 0.10% |
Expected volatility | 67.00% |
Expected term (in years) | 6 months |
Expected dividend rate | 0.00% |
Net Loss Per Share Attributab_3
Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2018 | |
Earnings Per Share [Abstract] | |||||
Net loss | $ (32,159) | $ (39,620) | $ (99,886) | $ (80,463) | $ (99,886) |
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted (in shares) | 147,930 | 127,715 | 142,179 | 67,735 | |
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) | $ (0.22) | $ (0.31) | $ (0.70) | $ (1.19) | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Antidilutive securities excluded from computation of earnings per share (in shares) | 53,180 | 56,818 | 53,180 | 56,818 | |
Stock options | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Antidilutive securities excluded from computation of earnings per share (in shares) | 28,502 | 46,466 | 28,502 | 46,466 | |
Restricted stock units | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Antidilutive securities excluded from computation of earnings per share (in shares) | 9,690 | 9,659 | 9,690 | 9,659 | |
ESPP | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Antidilutive securities excluded from computation of earnings per share (in shares) | 377 | 686 | 377 | 686 | |
Unvested early exercises subject to repurchase | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Antidilutive securities excluded from computation of earnings per share (in shares) | 0 | 7 | 0 | 7 | |
Convertible senior notes (if-converted) | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||
Antidilutive securities excluded from computation of earnings per share (in shares) | 14,611 | 0 | 14,611 | 0 |