Cover
Cover - USD ($) shares in Millions, $ in Billions | 12 Months Ended | ||
Jan. 31, 2023 | Mar. 20, 2023 | Jul. 29, 2022 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Jan. 31, 2023 | ||
Current Fiscal Year End Date | --01-31 | ||
Document Transition Report | false | ||
Entity File Number | 001-40895 | ||
Entity Registrant Name | GITLAB INC. | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 47-1861035 | ||
Title of 12(b) Security | Class A common stock, par value $0.0000025per share | ||
Trading Symbol | GTLB | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
Entity Public Float | $ 5 | ||
Documents Incorporated by Reference | DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s Definitive Proxy Statement (“Proxy Statement”) relating to the 2023 Annual Meeting of Stockholders will be filed with the Securities and Exchange Commission within 120 days after the end of the registrant’s fiscal year ended January 31, 2023 and is incorporated by reference into Part III of this Report. | ||
Entity Address, Address Line One | 251 Little Falls Drive | ||
Entity Address, City or Town | Wilmington | ||
Entity Address, State or Province | DE | ||
Entity Address, Postal Zip Code | 19808 | ||
Entity Central Index Key | 0001653482 | ||
Current Fiscal Year Focus | 2023 | ||
Current Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Class A Common Stock | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 95.3 | ||
Class B Common Stock | |||
Document Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 56.5 |
Audit Information
Audit Information | 12 Months Ended |
Jan. 31, 2023 | |
Audit Information [Abstract] | |
Auditor Name | KPMG LLP |
Auditor Location | Pittsburgh, PA |
Auditor Firm ID | 185 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 | |
CURRENT ASSETS: | |||
Cash and cash equivalents | [1] | $ 295,402 | $ 884,672 |
Short-term investments | [1] | 641,249 | 50,031 |
Accounts receivable, net of allowance for doubtful accounts of $1,564 and $1,098 as of January 31, 2023 and January 31, 2022, respectively | [1] | 130,479 | 77,233 |
Deferred contract acquisition costs, current | [1] | 26,505 | 24,363 |
Prepaid expenses and other current assets | [1] | 24,327 | 15,544 |
Total current assets | [1] | 1,117,962 | 1,051,843 |
Property and equipment, net | [1] | 5,797 | 3,271 |
Operating lease right-of-use assets | [1] | 998 | |
Equity method investment | [1] | 12,682 | 0 |
Goodwill | [1] | 8,145 | 8,145 |
Intangible assets, net | [1] | 3,901 | 6,285 |
Deferred contract acquisition costs, non-current | [1] | 15,628 | 14,743 |
Other long-term assets | [1] | 4,087 | 7,151 |
TOTAL ASSETS | [1] | 1,169,200 | 1,091,438 |
CURRENT LIABILITIES: | |||
Accounts payable | [1] | 5,184 | 4,984 |
Accrued expenses and other current liabilities | [1] | 25,954 | 24,571 |
Accrued compensation and benefits | [1] | 20,776 | 32,820 |
Deferred revenue, current | [1] | 254,382 | 179,224 |
Total current liabilities | [1] | 306,296 | 241,599 |
Deferred revenue, non-current | [1] | 28,355 | 32,568 |
Other non-current liabilities | [1] | 9,824 | 18,002 |
TOTAL LIABILITIES | [1] | 344,475 | 292,169 |
Commitments and contingencies (Note 14) | [1] | ||
STOCKHOLDERS’ EQUITY: | |||
Preferred stock, $0.0000025 par value; 50,000 shares authorized as of January 31, 2023 and January 31, 2022; no shares issued and outstanding as of January 31, 2023 and January 31, 2022 | [1] | 0 | 0 |
Additional paid-in capital | [1] | 1,497,373 | 1,320,479 |
Accumulated deficit | [1] | (725,648) | (553,337) |
Accumulated other comprehensive income (loss) | [1] | (705) | 7,724 |
Total GitLab stockholders’ equity | [1] | 771,020 | 774,866 |
Noncontrolling interests | [1] | 53,705 | 24,403 |
TOTAL STOCKHOLDERS’ EQUITY | [1] | 824,725 | 799,269 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | [1] | 1,169,200 | 1,091,438 |
Class A Common Stock | |||
STOCKHOLDERS’ EQUITY: | |||
Common stock, value, issued | [1] | 0 | 0 |
Class B Common Stock | |||
STOCKHOLDERS’ EQUITY: | |||
Common stock, value, issued | [1] | $ 0 | $ 0 |
[1](1) As of January 31, 2023 and January 31, 2022, the consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $62.8 million and $17.7 million, respectively, and liabilities of $8.9 million and $3.7 million, respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the general credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 | |
Allowance for doubtful accounts | $ 1,564 | $ 1,098 | |
STOCKHOLDERS’ EQUITY: | |||
Preferred stock, par value (in USD per share) | $ 0.0000025 | $ 0.0000025 | |
Preferred stock, shares authorized (in shares) | 50,000,000 | 50,000,000 | |
Preferred stock, shares issued (in shares) | 0 | 0 | |
Preferred stock, shares outstanding (in shares) | 0 | 0 | |
Assets of consolidated variable interest entity | [1] | $ 1,169,200 | $ 1,091,438 |
Liabilities of consolidated variable interest entity | [1] | 344,475 | 292,169 |
Variable Interest Entity, Primary Beneficiary | |||
STOCKHOLDERS’ EQUITY: | |||
Assets of consolidated variable interest entity | 62,827 | 17,732 | |
Liabilities of consolidated variable interest entity | $ 8,871 | $ 3,663 | |
Class A Common Stock | |||
STOCKHOLDERS’ EQUITY: | |||
Common stock, par value (in USD per share) | $ 0.0000025 | $ 0.0000025 | |
Common stock, shares authorized (in shares) | 1,500,000,000 | 1,500,000,000 | |
Common stock, shares issued (in shares) | 94,655,000 | 27,141,000 | |
Common stock, shares outstanding (in shares) | 94,655,000 | 27,141,000 | |
Class B Common Stock | |||
STOCKHOLDERS’ EQUITY: | |||
Common stock, par value (in USD per share) | $ 0.0000025 | $ 0.0000025 | |
Common stock, shares authorized (in shares) | 250,000,000 | 250,000,000 | |
Common stock, shares issued (in shares) | 56,489,000 | 119,747,000 | |
Common stock, shares outstanding (in shares) | 56,489,000 | 119,747,000 | |
[1](1) As of January 31, 2023 and January 31, 2022, the consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $62.8 million and $17.7 million, respectively, and liabilities of $8.9 million and $3.7 million, respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the general credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Revenue | $ 424,336 | $ 252,653 | $ 152,176 |
Cost of revenue | 51,680 | 29,985 | 18,463 |
Gross profit | 372,656 | 222,668 | 133,713 |
Operating expenses: | |||
Sales and marketing | 309,992 | 190,754 | 154,086 |
Research and development | 156,143 | 97,217 | 106,643 |
General and administrative | 117,932 | 63,654 | 86,868 |
Total operating expenses | 584,067 | 351,625 | 347,597 |
Loss from operations | (211,411) | (128,957) | (213,884) |
Interest income | 14,496 | 736 | 1,070 |
Other income (expense), net | 21,585 | (30,850) | 23,452 |
Loss before income taxes and loss from equity method investment | (175,330) | (159,071) | (189,362) |
Loss from equity method investment, net of tax | (2,468) | 0 | 0 |
Provision for (benefit from) income taxes | 2,898 | (1,511) | 2,832 |
Net loss | (180,696) | (157,560) | (192,194) |
Net loss attributable to noncontrolling interest | (8,385) | (2,422) | 0 |
Net loss attributable to GitLab | $ (172,311) | $ (155,138) | $ (192,194) |
Net loss per share attributable to GitLab Class A and Class B common stockholders, basic and diluted | |||
Basic (in USD per share) | $ (1.16) | $ (1.95) | $ (3.82) |
Diluted (in USD per share) | $ (1.16) | $ (1.95) | $ (3.82) |
Weighted-average shares used to compute net loss per share attributable to GitLab Class A and Class B common stockholders, basic and diluted | |||
Basic (in shares) | 148,407 | 79,755 | 50,343 |
Diluted (in shares) | 148,407 | 79,755 | 50,343 |
Subscription—self-managed and SaaS | |||
Revenue | $ 369,349 | $ 226,163 | $ 132,763 |
Cost of revenue | 40,841 | 23,668 | 14,453 |
License—self-managed and other | |||
Revenue | 54,987 | 26,490 | 19,413 |
Cost of revenue | $ 10,839 | $ 6,317 | $ 4,010 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Statement of Comprehensive Income [Abstract] | |||
Net loss | $ (180,696) | $ (157,560) | $ (192,194) |
Foreign currency translation adjustments | (5,874) | 27,639 | (24,005) |
Net change in unrealized losses on available-for-sale securities | (4,855) | 0 | 0 |
Comprehensive loss including noncontrolling interest | (191,425) | (129,921) | (216,199) |
Net loss attributable to noncontrolling interest | (8,385) | (2,422) | 0 |
Foreign currency translation adjustments attributable to noncontrolling interest | (2,300) | 375 | 0 |
Comprehensive loss attributable to noncontrolling interest | (10,685) | (2,047) | 0 |
Comprehensive loss attributable to GitLab | $ (180,740) | $ (127,874) | $ (216,199) |
Consolidated Statements of Conv
Consolidated Statements of Convertible Preferred Stock and Stockholders’ Equity (Deficit) - USD ($) $ in Thousands | Total | Common stock Class A Common Stock | Common stock Class A Common Stock Conversion Of Stock By Selling Stockholder Upon Initial Public Offering | Common stock Class A Common Stock Conversion Of Class B To Class A | Common stock Class B Common Stock | Common stock Class B Common Stock Conversion Of Stock By Selling Stockholder Upon Initial Public Offering | Common stock Class B Common Stock Conversion Of Class B To Class A | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive (Loss) Income | Noncontrolling Interests | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Stockholders' Equity, beginning balance | $ (134,747) | $ 0 | $ 0 | $ 67,168 | $ (206,005) | $ 4,090 | $ 0 | |||||
Convertible preferred stock, beginning balance (in shares) at Jan. 31, 2020 | 79,959,000 | |||||||||||
Convertible preferred stock, beginning balance at Jan. 31, 2020 | $ 425,146 | |||||||||||
Increase (Decrease) in Temporary Equity [Roll Forward] | ||||||||||||
Issuance of common stock upon conversion of preferred stock (in shares) | (408,000) | |||||||||||
Issuance of common stock upon conversion of preferred stock | $ (242) | |||||||||||
Convertible preferred stock, ending balance (in shares) at Jan. 31, 2021 | 79,551,000 | |||||||||||
Convertible preferred stock, ending balance at Jan. 31, 2021 | $ 424,904 | |||||||||||
Stockholders' Equity, beginning balance (in shares) at Jan. 31, 2020 | 1,151,000 | 49,338,000 | ||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Repurchase of common stock (in shares) | (20,000) | |||||||||||
Repurchase of common stock | (820) | (820) | ||||||||||
Conversion of stock (in shares) | 408,000 | |||||||||||
Conversion of stock | $ 242 | 242 | ||||||||||
Issuance of common stock related to vested exercised stock options (in shares) | 2,862,000 | 1,876,000 | ||||||||||
Issuance of common stock related to vested exercised stock options | $ 5,618 | 5,618 | ||||||||||
Issuance of common stock related to early exercised stock options, net of repurchases (in shares) | 866,000 | |||||||||||
Vesting of early exercised stock options | 2,838 | 2,838 | ||||||||||
Stock-based compensation expense | 111,846 | 111,846 | ||||||||||
Foreign currency translation adjustments | (24,005) | (24,005) | ||||||||||
Net loss | (192,194) | (192,194) | ||||||||||
Stockholders' Equity, ending balance (in shares) at Jan. 31, 2021 | 1,151,000 | 52,468,000 | ||||||||||
Stockholders' Equity, ending balance at Jan. 31, 2021 | (231,222) | $ 0 | $ 0 | 186,892 | (398,199) | (19,915) | 0 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Stockholders' Equity, beginning balance | $ (231,222) | $ 0 | $ 0 | 186,892 | (398,199) | (19,915) | 0 | |||||
Conversion of convertible preferred stock to Class B common stock upon initial public offering (in shares) | (79,551,000) | |||||||||||
Conversion of convertible preferred stock to Class B common stock upon initial public offering | $ (424,904) | |||||||||||
Convertible preferred stock, ending balance (in shares) at Jan. 31, 2022 | 0 | |||||||||||
Convertible preferred stock, ending balance at Jan. 31, 2022 | $ 0 | |||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Repurchase of common stock (in shares) | (13,000) | |||||||||||
Repurchase of common stock | (590) | (590) | ||||||||||
Conversion of stock (in shares) | 2,500,000 | 14,550,000 | 79,551,000 | 2,500,000 | 14,550,000 | |||||||
Conversion of stock | 424,904 | 424,904 | ||||||||||
Issuance of common stock upon initial public offering, net of underwriting discounts and other offering costs (in shares) | 8,940,000 | |||||||||||
Issuance of common stock upon initial public offering, net of underwriting discounts and other offering costs | 649,845 | 649,845 | ||||||||||
Issuance of common stock in connection with business combination, net (in shares) | 26,000 | |||||||||||
Issuance of common stock in connection with business combination, net | 959 | 959 | ||||||||||
Contingent stock consideration in connection with business combination | $ 1,754 | 1,754 | ||||||||||
Issuance of common stock related to vested exercised stock options (in shares) | 4,789,000 | 4,118,000 | ||||||||||
Issuance of common stock related to vested exercised stock options | $ 19,408 | 19,408 | ||||||||||
Issuance of common stock related to early exercised stock options, net of repurchases (in shares) | 574,000 | |||||||||||
Vesting of early exercised stock options | 7,212 | 7,212 | ||||||||||
Warrant exercised (in shares) | 73,000 | |||||||||||
Warrant exercised | 86 | 86 | ||||||||||
Stock-based compensation expense | 30,009 | 30,009 | ||||||||||
Foreign currency translation adjustments | 28,014 | 27,639 | 375 | |||||||||
Change in noncontrolling interest ownership due to capital contributions from noncontrolling interest holders, net of issuance costs | 26,450 | 26,450 | ||||||||||
Net loss | (157,560) | (155,138) | (2,422) | |||||||||
Stockholders' Equity, ending balance (in shares) at Jan. 31, 2022 | 27,141,000 | 119,747,000 | ||||||||||
Stockholders' Equity, ending balance at Jan. 31, 2022 | 799,269 | [1] | $ 0 | $ 0 | 1,320,479 | (553,337) | 7,724 | 24,403 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Stockholders' Equity, beginning balance | $ 799,269 | [1] | $ 0 | $ 0 | 1,320,479 | (553,337) | 7,724 | 24,403 | ||||
Convertible preferred stock, ending balance (in shares) at Jan. 31, 2023 | 0 | |||||||||||
Convertible preferred stock, ending balance at Jan. 31, 2023 | $ 0 | |||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Conversion of stock (in shares) | 66,162,000 | 66,162,000 | ||||||||||
Issuance of common stock related to vested exercised stock options (in shares) | 2,964,000 | 2,940,000 | ||||||||||
Issuance of common stock related to vested exercised stock options | $ 24,846 | 24,846 | ||||||||||
Issuance of common stock under employee stock purchase plan (in shares) | 437,000 | |||||||||||
Issuance of common stock under employee stock purchase plan | 14,378 | 14,378 | ||||||||||
Issuance of common stock related to early exercised stock options, net of repurchases (in shares) | 36,000 | |||||||||||
Issuance of common stock related to RSUs vested, net of tax witholdings (in shares) | 915,000 | |||||||||||
Vesting of early exercised stock options | 4,706 | 4,706 | ||||||||||
Stock-based compensation expense | 122,567 | 114,811 | 7,756 | |||||||||
Other comprehensive loss | (10,729) | (8,429) | (2,300) | |||||||||
Change in noncontrolling interest ownership due to capital contributions from noncontrolling interest holders, net of issuance costs | 61,726 | 18,153 | 43,573 | |||||||||
Deconsolidation of Meltano Inc. | (11,342) | (11,342) | ||||||||||
Net loss | (180,696) | (172,311) | (8,385) | |||||||||
Stockholders' Equity, ending balance (in shares) at Jan. 31, 2023 | 94,655,000 | 56,489,000 | ||||||||||
Stockholders' Equity, ending balance at Jan. 31, 2023 | 824,725 | [1] | $ 0 | $ 0 | 1,497,373 | (725,648) | (705) | 53,705 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||
Stockholders' Equity, beginning balance | $ 824,725 | [1] | $ 0 | $ 0 | $ 1,497,373 | $ (725,648) | $ (705) | $ 53,705 | ||||
[1](1) As of January 31, 2023 and January 31, 2022, the consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $62.8 million and $17.7 million, respectively, and liabilities of $8.9 million and $3.7 million, respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the general credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||
Net loss, including amounts attributable to noncontrolling interest | $ (180,696,000) | $ (157,560,000) | $ (192,194,000) | ||
Adjustments to reconcile net loss to net cash used in operating activities: | |||||
Stock-based compensation expense | 122,567,000 | 30,009,000 | 111,846,000 | ||
Operating lease non-cash expense | 562,000 | ||||
Gain from the fair value change of acquisition related contingent consideration | (1,722,000) | 0 | 0 | ||
Amortization of intangible assets | 2,362,000 | 665,000 | 222,000 | ||
Depreciation expense | 3,231,000 | 543,000 | 0 | ||
Amortization of deferred contract acquisition costs | 44,958,000 | 33,368,000 | 18,469,000 | ||
Gain from deconsolidation of Meltano Inc. | (17,798,000) | 0 | 0 | ||
Loss from equity method investment | 3,189,000 | 0 | 0 | ||
Net amortization of premiums or discounts on short-term investments | (6,077,000) | 0 | 0 | ||
Unrealized foreign exchange (gain) loss | (3,727,000) | 20,389,000 | (24,322,000) | ||
Other non-cash expense, net | 594,000 | 197,000 | 458,000 | ||
Changes in assets and liabilities: | |||||
Accounts receivable | (54,169,000) | (38,223,000) | (14,745,000) | ||
Prepaid expenses and other current assets | (8,909,000) | (8,219,000) | 677,000 | ||
Deferred contract acquisition costs | (48,555,000) | (42,575,000) | (34,137,000) | ||
Other long-term assets | 3,012,000 | (3,374,000) | 252,000 | ||
Accounts payable | 287,000 | 1,877,000 | 1,474,000 | ||
Accrued expenses and other current liabilities | 4,619,000 | 13,953,000 | 733,000 | ||
Accrued compensation and benefits | (11,693,000) | 19,755,000 | 4,646,000 | ||
Deferred revenue | 73,003,000 | 79,074,000 | 52,382,000 | ||
Other long-term liabilities | (2,446,000) | 307,000 | 659,000 | ||
Net cash used in operating activities | (77,408,000) | (49,814,000) | (73,580,000) | ||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||
Purchases of short-term investments | (821,622,000) | (100,031,000) | 0 | ||
Proceeds from maturities of short-term investments | 231,626,000 | 50,000,000 | 0 | ||
Purchases of property and equipment | (6,070,000) | (3,541,000) | 0 | ||
Deconsolidation of Meltano Inc. | (9,620,000) | 0 | 0 | ||
Payments for business combination, net of cash acquired and consideration withheld in an escrow | 0 | (323,000) | 0 | ||
Payments for asset acquisitions | 0 | 0 | (933,000) | ||
Other investing activities | 0 | 0 | 91,000 | ||
Net cash used in investing activities | (605,686,000) | (53,895,000) | (842,000) | ||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||
Proceeds from initial public offering, net of underwriting discounts | 0 | 654,552,000 | 0 | ||
Proceeds from the issuance of common stock upon exercise of stock options, including early exercises, net of repurchases | 24,515,000 | 25,354,000 | 13,765,000 | ||
Issuance of common stock under employee stock purchase plan | 14,378,000 | 0 | 0 | ||
Proceeds from warrants exercised | 0 | 86,000 | 0 | ||
Repurchase of common stock in a tender offer | 0 | (590,000) | (820,000) | ||
Contributions received from noncontrolling interests, net of issuance costs | 61,726,000 | 26,450,000 | 0 | ||
Partial settlement of acquisition related contingent cash consideration | (3,137,000) | 0 | 0 | ||
Payments of deferred offering costs | 0 | (4,667,000) | 0 | ||
Net cash provided by financing activities | 97,482,000 | 701,185,000 | 12,945,000 | ||
Impact of foreign exchange on cash and cash equivalents | (3,658,000) | 6,846,000 | 1,000,000 | ||
Net increase (decrease) in cash and cash equivalents | (589,270,000) | 604,322,000 | (60,477,000) | ||
Cash, cash equivalents, and restricted cash at beginning of period | 887,172,000 | 282,850,000 | 343,327,000 | ||
Cash, cash equivalents, and restricted cash at end of period | 297,902,000 | 887,172,000 | 282,850,000 | ||
Supplemental disclosure of cash flow information: | |||||
Cash paid for income taxes | 838,000 | 1,310,000 | 1,901,000 | ||
Cash donations | 0 | 1,000,000 | 0 | ||
Supplemental disclosure of non-cash investing and financing activities: | |||||
Vesting of early exercised stock options | 4,706,000 | 7,212,000 | 2,838,000 | ||
Issuance of common stock upon conversion of preferred stock | 0 | 424,904,000 | 242,000 | ||
Unpaid property and equipment in accrued expenses | 0 | 273,000 | 0 | ||
Unpaid deferred offering costs | 0 | 40,000 | 0 | ||
Reconciliation of cash, cash equivalents and restricted cash within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above: | |||||
Cash and cash equivalents | 295,402,000 | [1] | 884,672,000 | [1] | 282,850,000 |
Restricted cash, included in prepaid expenses and other current assets | 2,500,000 | 0 | 0 | ||
Restricted cash, included in other long-term assets | 0 | 2,500,000 | 0 | ||
Total cash, cash equivalents and restricted cash | $ 297,902,000 | $ 887,172,000 | $ 282,850,000 | ||
[1](1) As of January 31, 2023 and January 31, 2022, the consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $62.8 million and $17.7 million, respectively, and liabilities of $8.9 million and $3.7 million, respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the general credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Organization and Description of
Organization and Description of Business | 12 Months Ended |
Jan. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Description of Business | 1. Organization and Description of Business GitLab Inc. (the “Company”) began as an open source project in 2011 and was incorporated in Delaware on September 12, 2014. While the Company is headquartered in San Francisco, California, it operates on an all-remote model. The Company is a technology company and its primary offering is “GitLab”, a complete DevSecOps platform delivered as a single application. GitLab is used by a wide range of organizations. The Company also provides related training and professional services. GitLab is offered on both self-managed and software-as-a-service ("SaaS") models. The principal markets for GitLab are currently located in the United States, Europe, and Asia Pacific. The Company is focused on accelerating innovation and broadening the distribution of its platform to companies across the world to help them become better software-led businesses. |
Basis of Presentation and Summa
Basis of Presentation and Summary of Significant Accounting Policies | 12 Months Ended |
Jan. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Summary of Significant Accounting Policies | 2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Fiscal Year The Company's fiscal year ends on January 31. For example, references to fiscal 2023 and 2022 refer to the fiscal year ended January 31, 2023 and 2022, respectively. Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Such estimates include, but are not limited to, allocation of revenue to the license element in the Company's self-managed subscriptions, estimating the amortization period for capitalized costs to obtain a contract, allowance for doubtful accounts, stock-based compensa tion expense, fair value of contingent consideration, fair valuation of retained interest in an investee on loss of control, valuation allowance for deferred income taxes, valuation of intangibles assets and impairment of goodwill and equity method investments. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from those estimates. Principles of Consolidation The consolidated financial statements include 100% of the accounts of wholly owned and majority owned subsidiaries as well as a variable interest entity for which our Company is the primary beneficiary. The ownership interest of other investors is recorded as noncontrolling interest. All intercompany accounts and transactions have been eliminated in consolidation. On December 3, 2021, the Company completed the acquisition of Opstrace, Inc., a technology company based in San Francisco, California. Our consolidated financial statements include the operating results of the acquired entity beginning from the date of acquisition. Foreign Currency The reporting currency of the Company is the U.S. dollar. The Company determines the functional currency of each foreign subsidiary and the variable interest entity in accordance with ASC 830, Foreign Currency Matters, based on the currency of the primary economic environment in which each subsidiary and the variable interest entity operate. Items included in the financial statements of such subsidiaries and the variable interest entity are measured using that functional currency. For subsidiaries where the U.S. dollar is the functional currency, foreign currency denominated monetary assets and liabilities are re-measured into U.S. dollars at current exchange rates and foreign currency denominated non-monetary assets and liabilities are re-measured into U.S. dollars at historical exchange rates. Gains or losses from foreign currency remeasurement and settlements are included in foreign exchange gains (losses), net which is presented within other income (e xpense), net on the consolidated statements of operations. For the years ended January 31, 2023 , 2022 and 2021, the Company recognized foreign exchange gains (losses), net of $4.4 million, $(29.1) million and $23.4 million, respectively. For subsidiaries and the variable interest entity where the functional currency is other than the U.S. dollar, the Company uses the period-end exchange rates to translate assets and liabilities, the average monthly exchange rates to translate revenue and expenses, and historical exchange rates to translate stockholders’ equity (deficit) into U.S. dollars. The Company records translation gains and losses in accumulated other c omprehensive income (loss) as a component of stockholders’ equity (deficit) in the consolidated balance sheets. For the years ended January 31, 2023, 2022 and 2021, the Company recognized foreign translation adjustments of $(5.9) million, $27.6 million and $(24.0) million, respectively. Cash, Cash Equivalents, and Restricted Cash Cash and cash equivalents as of January 31, 2023 and 2022, consists of cash held in checking and savings accounts, investments in money market accounts and certain highly-liquid investments. The Company considers all highly-liquid investments purchased with an original or remaining maturity of three months or less at the date of purchase to be cash equivalents. Restricted cash as of January 31, 2023 and 2022, consists of a $2.5 million acquisition related security deposit withheld in an escrow for any potential post-closing indemnification claims. Refer to “Note 7. Business Combination .” Short-Term Investments - Marketable Securities The Company classifies its marketable securities with stated maturities of three months and greater at the date of purchase as short-term investments due to its ability to use these securities to support the Company’s current operations. As of January 31, 2023, a ll short-term investments are classified as available-for-sale and are reported at fair value, which is based on quoted market prices for such securities, if available, or based on quoted market prices of financial instruments with similar characteristics. If the fair value of a security falls below its amortized cost, the carrying value is reduced to its fair value if management intends to sell or it is more likely than not that it will be required to sell before recovery of the amortized cost basis. If neither of these conditions are satisfied, impairment is assessed for credit losses by comparing the present value of expected cash flows with the amortized cost basis, and an allowance for credit losses is recorded for the excess of amortized cost over expected cash flows. Impairment losses not attributable to credit losses are reported as a separate component of other comprehensive loss, net of tax. As of January 31, 2022, short-term investments comprised of certificates of deposit with a bank with an original maturity of greater than three months at the date of purchase. Such investments were carried at amortized cost, which approximated their fair value. The cost of securities sold is based on the specific-identification method and realized gains and losses on available-for-sale securities are recognized upon sale and are included in other income (expense), net in the consolidated statements of operations. Interest on securities classified as available-for-sale is included within Interest income on our consolidated statements of operations. Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable, which represent trade receivables from the Company’s customers, are recorded at the invoiced amount and do not bear interest. The Company extends credit of typically 30 to 60 days to its customers in the normal course of business and does not require collateral from its customers. The allowance for doubtful accounts is the Company’s best estimate of the amount of expected credit losses in existing accounts receivable. As of January 31, 2023 and 2022, the allowance for doubtful accounts was $1.6 million and $1.1 million, respectively. Accounts receivable deemed uncollectible are written off against the allowance when identified. Concentration of Credit Risk and Significant Customers Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents, restricted cash, short-term investments, and accounts receivable. At times, cash deposits may be in excess of insured limits. The Company believes that the financial institutions or corporations that hold its cash, cash equivalents, restricted cash, and short-term investments are financially sound and, accordingly, minimal credit risk exists with respect to these balances. The Company maintains allowances for potential credit losses on accounts receivable when deemed necessary. The Company uses various distribution channels. As of January 31, 2023, one of these channel partners represented 12% of the accounts receivable balance, while as of January 31, 2022 another channel partner represented 14% of the accounts receivable balance. There were no individual customers whose balance represented more than 10% of accounts receivable as of January 31, 2023 and 2022, respectively. There were no customers whose revenue represented more than 10% of total revenue during the years ended January 31, 2023, 2022 and 2021. Fair Value of Financial Instruments We define fair value as the price that would be received from selling an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities which are required to be recorded at fair value, we consider the principal or most advantageous market in which to transact and the market-based risk. We apply fair value accounting for all financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The carrying amounts reported in the consolidated financial statements approximate the fair value for cash equivalents, restricted cash, short-term investments, accounts receivable, accounts payable and accrued liabilities due to their short-term nature. The Company also recorded at fair value acquisition related contingent considerations further discussed in “Note 7. Business Combination.” The Company measures assets and liabilities at fair value at each reporting period using a fair value hierarchy which requires it to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. U.S. GAAP describes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, to measure the fair value: Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Inputs are unobservable based on the Company’s own assumptions used to measure assets and liabilities at fair value. The inputs require significant management judgment or estimation. Fair value estimates are made at a specific point in time based on relevant market information and information about the financial or nonfinancial asset or liability. Revenue Recognition The Company generates revenue primarily from offering self-managed (on-premise) and SaaS subscriptions. Revenue is also generated from professional services, including consulting and training. In accordance with ASC 606, revenue is recognized when a customer obtains control of the promised products and services. The amount of revenue recognized reflects the consideration that the Company expects to be entitled to receive in exchange for these products and services. To achieve the core principle of this standard, the Company applies the following five-step model as a framework: 1) Identify the contract with a customer. We consider the terms and conditions of our arrangements with customers to identify contracts under ASC 606. We consider that we have a contract with a customer when the contract is approved, we can identify each party's rights regarding the products and services to be transferred, we can identify the payment terms for the products and services, we have determined the customer has the ability and intent to pay, and the contract has commercial substance. We apply judgment in determining the customer's ability and intent to pay, which is based upon factors including the customer's historical payment experience or, for new customers, credit and financial information pertaining to the customers. At contract inception, we also evaluate whether two or more contracts should be combined and accounted for as a single contract. Further, contract modifications generally qualify as a separate contract. The typical term of a subscription contract for self-managed or SaaS offering is one to three years. Our contracts are non-cancelable over the contract term and we act as principal in all our customer contracts. Customers have the right to terminate their contracts generally only if we breach the contract and we fail to remedy the breach in accordance with the contractual terms. 2) Identify the performance obligations in the contract . Performance obligations in our contracts are identified based on the products and services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the product or service either on its own or together with other resources that are readily available from third parties or from us, and are distinct in the context of the contract, whereby the transfer of the product or service is separately identifiable from other promises in the contract. Our self-managed subscriptions include two performance obligations: (i) to provide access to proprietary features in our software, and (ii) to provide support and maintenance (including the combined obligation to provide software updates on a when-and-if-available basis). Our SaaS products provide access to hosted software as well as support, which is evaluated to be a single performance obligation. Services-related performance obligations relate to the provision of consulting and training services. These services are distinct from subscriptions and do not result in significant customization of the software except in certain limited unique contracts. Some of our customers have the option to purchase additional licenses or renew at a stated price. These options are evaluated on a case-by-case basis but generally do not provide a material right as they are either at the same price as the existing licenses or are within our range of standalone selling price (“SSP”) and, as such, would not result in a separate performance obligation. Where material rights are identified in our contracts, they are treated as separate performance obligations. 3) Determine the transaction price . We determine transaction price based on the consideration to which we expect to be entitled in exchange for transferring products and services to the customer. Variable consideration is included in the transaction price only to the extent it is probable that a significant future reversal of cumulative revenue under the contract will not occur when the uncertainty associated with the variable consideration is resolved. Our contracts are non-refundable and non-cancellable. We do not offer refunds, rebates, or credits to our customers in the normal course of business. The impact of variable considerations has not been material. For contracts with a one year term, we applied a practical expedient available under ASC 606 and made no evaluation for the existence of a significant financing component. In these contracts, at contract inception, the period between when we expect to transfer a promised product or service to the customer and when the customer pays for that product or service will be one year or less. For contracts with terms of more than a year, we have applied judgment in determining that advance payments in such contracts are not collected with the primary intention of availing finance and therefore, do not represent a significant financing component. Revenue is recognized net of any taxes collected from customers which are subsequently remitted to governmental entities (e.g., sales tax and other indirect taxes). We do not offer the right of refund in our contracts. 4) Allocate the transaction price to the performance obligations in the contract. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. For contracts that contain multiple performance obligations, we allocate the transaction price for each contract to each performance obligation based on the relative SSP for each performance obligation. We use judgment in determining the SSP for our products and services. We typically assess the SSP for our products and services on an annual basis or when facts and circumstances change. To determine SSP, we maximize the use of observable standalone sales and observable data, where available. In instances where performance obligations do not have observable standalone sales, we utilize available information that may include other observable inputs or use the expected cost-plus margin approach to estimate the price we would charge if the products and services were sold separately. The expected cost-plus margin approach is currently used to determine SSP for each distinct performance obligation for self-managed subscriptions. We have concluded that (i) the right to use the software and (ii) the right to receive technical support and software fixes and updates are two distinct performance obligations in our self-managed subscriptions. Since neither of these performance obligations are sold on a standalone basis, we estimate SSP for each performance obligation using a model based on the “expected cost-plus margin” approach and update the model on an annual basis or when facts and circumstances change. This model uses observable data points to develop the main inputs and assumptions, which include the estimated historical costs to develop the paid features in the software license and the estimated future costs to provide post-contract customer support. 5) Revenue is recognized when or as we satisfy a performance obligation . Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised products and services to a customer. We recognize revenue when we transfer control of the products and services to our customers for an amount that reflects the consideration that we expect to receive in exchange for those products and services. All revenue is generated from contracts with customers. Subscription - self-managed and SaaS Subscription - self-managed The Company's self-managed subscriptions include support, maintenance, upgrades, and updates on a when-and-if-available basis. Revenue for self-managed subscriptions is recognized ratably over the contract period based on the stand-ready nature of subscription elements. The Company offers two tiers of paid subscriptions as part of the self-managed model: Premium and Ultimate. Subscriptions for self-managed licenses include both (i) a right to use the underlying software (License revenue - Self managed) and (ii) a right to receive post-contract customer support during the subscription term (Subscription revenue - Self managed). Post-contract customer support comprises maintenance services (including updates and upgrades to the software on a when-and-if-available basis) and support services. The Company has concluded that the right to use the software, which is recognized upon delivery of the license, and the right to receive technical support and software fixes and updates, which is recognized ratably over the term of the arrangement, are two distinct performance obligations. Since neither of these performance obligations are sold on a standalone basis, the Company estimates the SSP for each performance obligation using a model based on the “expected cost-plus margin” approach and updates the model on an annual basis or when facts and circumstances change. This model uses observable data points to develop the main inputs and assumptions which include the estimated historical costs to develop the paid features in the software license and the estimated future costs to provide post-contract customer support. Based on this model, the Company allocated between 1 to 23% of the entire transaction price to the right to use the underlying software (License revenue - Self managed) and allocated the remaining value of the transaction to the right to receive post-contract customer support (Subscription revenue - Self managed) during the period covered by these consolidated financial statements. The typical term of a subscription contract for self-managed offering is one to three years. As of January 2021, Starter tier is no longer offered to new customers but remains available for a limited transitory period to our existing customers. SaaS We also offer two tiers of paid SaaS subscriptions: Premium and Ultimate. These subscriptions provide access to our latest managed version of our product hosted in a public or private cloud based on the customer’s preference. Revenue from our SaaS products (Subscription revenue - SaaS) is recognized ratably over the contract period when the performance obligation is satisfied. The typical term of a subscription contract for SaaS offering is one to three years. As of January 2021, Starter tier is no longer offered to new customers but remains available for a limited transitory period to our existing customers. License - self-managed and other The license component of our self-managed subscriptions reflects the revenue recognized by providing customers with rights to use proprietary software features. The Company allocates between 1 to 23% of the transaction value to License revenue, which is recognized upfront when the software license is made available to our customers. Other revenue consists of professional services revenue which is derived from fixed fee and time and materials offerings, subject to customer acceptance. Given the Company’s limited history of providing professional services, uncertainty exists about customer acceptance and therefore, control is presumed to transfer upon confirmation from the customer, as defined in each professional services contract. Accordingly, revenue is recognized upon satisfaction of all requirements per the applicable contract. Revenue from professional services provided on a time and material basis is recognized over the periods services are delivered. The Company presents financial information about disaggregation of revenue in “Note 3. Revenues” of the consolidated financial statements. Deferred Revenue and Contract Assets Contract liabilities consist of deferred revenue and include payments received in advance of performance under the contract. Such amounts are recognized as revenue over the contractual period. The portion of deferred revenue that the Company will recognize during the twelve-month period from the balance sheet date is recorded within current liabilities and the remaining portion is recorded as long-term. The Company receives payments from customers based upon contractual billing schedules and accounts receivable are recorded when the right to consideration becomes unconditional. Customers are generally billed in advance, including some multi-year contracts, but the majority of customers in multi-year contracts specifically request to pay annually in advance. Payment terms on invoiced amounts are typically 30 to 60 days. In limited cases, the Company has offered deferred payment terms of a maximum of one year in contracts with a one year contractual term. For multi-year license subscriptions, we generally invoice customers annually at the beginning of each annual coverage period and the license revenue for the full multi-year term is recognized upfront on delivery from deferred revenue. Where the value of revenue recognized exceeds the value of amounts invoiced for a contract at the end of a reporting period, it is reclassed from deferred revenue to contract assets until invoiced. Contract assets are included in prepaid expenses and other current assets on the consolidated balance sheets. During the years ended January 31, 2023, 2022 and 2021, $145.9 million, $87.1 million and $58.1 million, respectively, of revenue was recognized, which was included in the corresponding deferred revenue balance at the beginning of the reporting periods presented. The increase in deferred revenue balances for the periods presented is mainly attributable to the growth of contracts with new as well as existing customers. Remaining Performance Obligations As of January 31, 2023 and 2022, the aggregate amount of the transaction price allocated to billed and unbilled remaining performance obligations for which revenue has not yet been recognized was approximately $435.9 million and $312.4 million, respectively. As of January 31, 2023, the Company expected to recognize approximately 71% of the transaction price as product or services revenue over the next 12 months and 92% over the next 24 months. Deferred Contract Acquisition Costs Sales commissions and bonuses that are direct and incremental costs of the acquisition of contracts with customers are capitalized. These costs are recorded as deferred contract acquisition costs on the consolidated balance sheets. The Company determines whether costs should be deferred when the costs are direct and incremental and would not have occurred absent the customer contract. The deferred commission and bonus amounts are recoverable through the future revenue streams from our customer contracts all of which are non-cancelable. Commissions and bonuses paid upon the acquisition of an initial contract are amortized over an estimated period of benefit which has been determined generally to be three years based on historical analysis of average customer life and useful life of our product offerings. Commissions paid for subsequent renewals are amortized over the renewal term. Amortization is recognized on a straight-line basis and included in sales and marketing expenses in the consolidated statements of operations. However, costs for commissions that are incremental to obtain a self-managed license contract are expensed immediately. The Company periodically reviews these deferred costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit of these deferred costs. The Company did not recognize any impairment of deferred contract acquisition costs during the periods presented. The following table presents the change in deferred contract acquisition costs (in thousands): January 31, 2023 2022 2021 Beginning balance $ 39,106 $ 30,476 $ 14,375 Added during the year 47,985 41,998 34,570 Amortized during the year (44,958) (33,368) (18,469) Ending balance $ 42,133 $ 39,106 $ 30,476 Cost of Revenue Cost of revenue for self-managed and SaaS subscriptions consists primarily of allocated cloud-hosting costs paid to third party service providers, personnel-related costs associated with our customer support personnel, including contractors; and allocated overhead. Personnel-related expenses consist of salaries, benefits, bonuses, and stock-based compensation. Cost of self-managed license and other revenue consists primarily of contractor and personnel-related costs, including stock-based compensation expenses, associated with the professional services team and customer support team, and allocated overhead. Research and Development Costs related to research and development of the Company’s software offerings are expensed as incurred. These costs consist primarily of compensation paid to the Company's research and development personnel, including contractors; and allocated overhead associated with developing new features or enhancing existing features. The Company’s internal customer software development process follows an iterative process that results in more frequent software releases than do traditional sequential or waterfall development methodologies and also results in internal validation of the software releases very shortly before they are made available to customers. Therefore, to date, costs to develop software that is marketed externally have not been capitalized as the current software development process is essentially completed concurrently with the establishment of technological feasibility through internal validation of the software releases. As such, all related software development costs are expensed as incurred and included in research and development expenses in the consolidated statements of operations. To date, software development for internal use has been immaterial and no such costs have been capitalized. Advertising Costs Advertising costs are expensed as incurred and are included within sales and marketing expenses in the consolidated statements of operations. Th ese include costs incurred on public relations, website design, advertising, field marketing, and market research services. The Company incurred advertising costs of $27.3 million, $21.4 million and $14.1 million during the years ended January 31, 2023, 2022 and 2021, respectively. Loss Contingencies If an exposure to any potential claim or legal proceeding is considered probable and the amount can be reasonably estimated, the Company records a liability for the estimated loss. Significant judgment is required in both the determination of probability and the determination as to whether an exposure is reasonably estimable. If applicable, the Company records receivables for probable insurance or other third-party recoveries. Due to uncertainties related to these matters, accruals are based on the best information available at the time. As additional information becomes available, the Company reassesses the potential liability and may revise its estimates. These revisions in the estimates of the potential liabilities could have a material impact on the Company’s results of operations and financial position. Legal fees and other costs associated with such actions are expensed as incurred. Income Taxes The Company is subject to income taxes in the United States and several foreign jurisdictions. The Company records a provision for income taxes for the anticipated tax consequences of the reported results of operations using the asset and liability method. Under this method, the Company recognizes deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial reporting and the tax basis of assets and liabilities, as well as for operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using the tax rates that are expected to apply to taxable income for the years in which those tax assets and liabilities are expected to be realized or settled. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts more likely than not expected to be realized. Management applies significant judgment in assessing the positive and negative evidence available in the determination of the amount of deferred tax assets that were more likely than not to be realized in the future. Future realization of deferred tax assets ultimately depends on the existence of sufficient taxable income of the appropriate character (for example, ordinary income or capital gain) within the carryback or carryforward periods available under the tax law. The Company regularly reviews the deferred tax assets for recoverability based on historical taxable income, projected future taxable income, the expected timing of the reversals of existing temporary differences, and tax planning strategies. The Company’s judgments regarding future profitability may change due to many factors, including future market conditions and the ability to successfully execute its business plans and/or tax planning strategies. Should there be a change in the ability to recover deferred tax assets, the tax provision would increase or decrease in the period in which the assessment is changed. Compliance with income tax regulations requires the Company to take certain tax positions. In assessing the exposure associated with various filing positions, the Company determines whether a tax position is more likely than not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The Company uses a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of the available evidence indicates that it is more likely than not that the position will be sustained upon tax authority examination, includi |
Revenues
Revenues | 12 Months Ended |
Jan. 31, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Revenues | 3. Revenues Disaggregation of Revenue The following table shows the components of revenues and their respective percentages of total revenue for the periods indicated (in thousands, except percentages): Fiscal Year Ended January 31, 2023 2022 2021 Subscription—self-managed and SaaS $ 369,349 87 % $ 226,163 90 % $ 132,763 87 % Subscription—self-managed 275,275 65 179,564 72 114,949 75 SaaS 94,074 22 46,599 18 17,814 12 License—self-managed and other $ 54,987 13 % $ 26,490 10 % $ 19,413 13 % License—self-managed 46,046 11 20,171 8 14,525 10 Professional services and other 8,941 2 6,319 2 4,888 3 Total revenue $ 424,336 100 % $ 252,653 100 % $ 152,176 100 % Total Revenue by Geographic Location The following table summarizes the Company’s total revenue by geographic location based on the region of the Company’s contracting entity, which may be different than the region of the customer (in thousands): Fiscal Year Ended January 31, 2023 2022 2021 United States $ 352,975 $ 211,520 $ 125,990 Europe 61,820 36,478 22,348 Asia Pacific 9,541 4,655 3,838 Total revenue $ 424,336 $ 252,653 $ 152,176 During the years ended January 31, 2023, 2022 and 2021, the United States accounted for 83%, 84% and 83% of total revenue, respectively. No other individual country exceeded 10% of total revenue for any of the periods presented. The Company operates its business as a single reportable segment. |
Cash, Cash Equivalents and Shor
Cash, Cash Equivalents and Short-Term Investments | 12 Months Ended |
Jan. 31, 2023 | |
Cash and Cash Equivalents [Abstract] | |
Cash, Cash Equivalents and Short-Term Investments | 4. Cash, Cash Equivalents and Short-Term Investments The following table summarizes the Company’s cash, cash equivalents and short-term investments by category (in thousands): As of January 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and cash equivalents: Cash $ 232,332 $ — $ — $ 232,332 Money market funds 60,073 — — 60,073 U.S. Agency securities 2,997 — — 2,997 Total cash and cash equivalents $ 295,402 $ — $ — $ 295,402 Short-term investments: Commercial paper 88,703 18 (112) 88,609 Corporate debt securities 95,805 33 (572) 95,266 Municipal bonds 1,989 — (19) 1,970 Foreign government bonds 2,211 — (41) 2,170 U.S. Agency securities 74,158 2 (435) 73,725 U.S. Treasury securities 383,238 — (3,729) 379,509 Total short-term investments $ 646,104 $ 53 $ (4,908) $ 641,249 As of January 31, 2022, the Company had $884.7 million of cash and cash equivalents, and $50.0 million of short-term investments, comprised of certificates of deposit with a bank with an original maturity of greater than three months at the date of purchase. Such investments were carried at amortized cost, which approximated their fair value and matured during the year ended January 31, 2023. The Company uses the specific-identification method to determine an y realized gains or losses from the sale of our short-term investments classified as available-for-sale. For the periods presented, the Company did not have any material realized gains or losses as a result of maturities or sale of short-term investments. During the year ended January 31, 2023, the Company recorded $14.5 million of interest income on cash equivalents and short-term investments which includes $6.1 million of net amortization of premiums or discounts on short-term investments during the year ended January 31, 2023. During the year ended January 31, 2022 and 2021, the Company recorded $0.7 million and $1.1 million of interest income on cash equivalents and short-term investments, respectively. The Company did not record any amortization of premiums or discounts during the year ended January 31, 2022 and 2021. As of January 31, 2023, the Company does not have any cash equivalents and short-term investments that have been in a continuous unrealized gain or loss position for more than 12 months as of the periods presented. The following table summarizes unrealized losses on our cash equivalents and short-term investments by category that have been in a continuous unrealized loss position for less than 12 months as of the periods presented (in thousands): Carrying Value Gross Unrealized Losses January 31, 2023 U.S. Agency securities $ 73,724 $ (435) Commercial paper 45,015 (112) Corporate debt securities 75,203 (572) Municipal bonds 1,970 (19) Foreign government bonds 2,170 (41) U.S. Treasury securities 379,509 (3,729) Total cash equivalents and short-term investments $ 577,591 $ (4,908) The following table classifies the Company’s short-term investments by contractual maturities (in thousands): January 31, 2023 January 31, 2022 Amortized cost Fair Value Amortized cost Fair Value Due within 1 year $ 480,943 $ 477,520 $ 50,031 $ 50,031 Due between 1 year to 2 years 165,161 163,729 — — Total $ 646,104 $ 641,249 $ 50,031 $ 50,031 All available-for-sale securities have been classified as current, based on management’s ability to use the funds in current operations. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Jan. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 5. Fair Value Measurements The Company determines fair value based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value assumes that the transaction to sell the asset or transfer the liability occurs in the principal or most advantageous market for the asset or liability and establishes that the fair value of an asset or liability shall be determined based on the assumptions that market participants would use in pricing the asset or liability. The classification of a financial asset or liability within the hierarchy is based upon the lowest level input that is significant to the fair value measurement. The fair value hierarchy prioritizes the inputs into three levels that may be used to measure fair value: Level 1: Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. Level 2: Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3: Inputs are unobservable based on the Company’s own assumptions used to measure assets and liabilities at fair value. The inputs require significant management judgment or estimation. The fair value of the Company’s Level 1 financial instruments, such as money market funds which are traded in active markets, is based on quoted market prices for identical instruments. The fair value of the Company’s Level 2 financial instrumen ts such as commercial paper, corporate debt and U.S. government securities are obtained from an independent pricing service, which may use inputs other than quoted prices that are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security that may not be actively traded. The Company’s marketable securities are held by custodians who obtain investment prices from a third-party pricing provider that incorporates standard inputs in various asset price models. Financial assets measured at fair value on a recurring basis are summarized below (in thousands): Level 1 Level 2 Level 3 Fair Value January 31, 2023 (1) Cash equivalents: Money market funds $ 60,073 $ — $ — $ 60,073 U.S. Agency securities — 2,997 — 2,997 Short-term investments: Commercial paper — 88,609 — 88,609 Corporate debt securities — 95,266 — 95,266 Municipal bonds — 1,970 — 1,970 Foreign government bonds — 2,170 — 2,170 U.S. Agency securities — 73,725 — 73,725 U.S. Treasury securities — 379,509 — 379,509 Total $ 60,073 $ 644,246 $ — $ 704,319 (1) Exclu des $232.3 million in cash held in the Company’s bank accounts as of January 31, 2023. |
Supplemental Financial Statemen
Supplemental Financial Statement Information | 12 Months Ended |
Jan. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Supplemental Financial Statement Information | 6. Supplemental Financial Statement Information Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following (in thousands): January 31, 2023 January 31, 2022 Prepaid software subscriptions $ 7,771 $ 3,950 Prepaid insurance 3,199 4,309 Prepaid expenses for the Company’s events 1,885 266 Prepaid taxes 592 3,168 Prepaid advertising costs 367 722 Other prepaid expenses 1,915 1,834 Restricted cash (1) 2,500 — Interest receivable 2,310 49 Revenue contract asset 1,532 — Security and other deposits 510 981 Other current assets 1,746 265 Total prepaid expense and other current assets $ 24,327 $ 15,544 (1) Refer to “Note 7. Business Combination”. Property and Equipment, Net Property and equipment, net of the following (in thousands): January 31, 2023 January 31, 2022 Computer and office equipment $ 8,581 $ 3,049 Leasehold improvements 1,208 765 9,789 3,814 Less: Accumulated depreciation (1) (3,992) (543) Total property and equipment, net (1) $ 5,797 $ 3,271 (1) The amounts in the table above include cumulative foreign currency translation adjustments, reflecting movement in the currencies of the underlying property and equipment. Depreciation expense of property and equipment was $3.2 million, $0.5 million and zero for the years ended January 31, 2023, 2022 and 2021, respectively. Other Long-Term Assets Other long-term assets consisted of the following (in thousands): January 31, 2023 January 31, 2022 Security and other deposits $ 3,172 $ 2,832 Restricted cash (1) — 2,500 Deferred software implementation costs 594 969 Other long-term assets 321 850 Total other long-term assets $ 4,087 $ 7,151 (1) Refer to “Note 7. Business Combination”. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): January 31, 2023 January 31, 2022 Accrued expenses $ 10,686 $ 8,605 Indirect taxes payable 4,498 4,044 Customer refunds 3,465 2,017 ESPP employee contributions 2,967 6,557 Acquisition related consideration withheld in escrow (1) 2,500 — Income taxes payable 859 319 Operating lease liabilities - current portion 716 — Acquisition related contingent cash consideration (1) — 3,029 Other current liabilities 263 — Total accrued expenses and other current liabilities $ 25,954 $ 24,571 (1) Refer to “Note 7. Business Combination”. Accrued Com pensation and Benefits Accrued compensation and benefits consisted of the following (in thousands): January 31, 2023 January 31, 2022 Accrued commissions $ 8,512 $ 8,417 Payroll taxes payable 3,013 14,506 Other accrued team member related payables 9,251 9,897 Total accrued compensation and benefits $ 20,776 $ 32,820 Other Long-Term Liabilities Other long-term liabilities consisted of the following (in thousands): January 31, 2023 January 31, 2022 Acquisition related contingent cash consideration (1) $ 3,443 $ 4,929 Provision towards labor matters (2) 2,504 2,573 Early exercised options liability 1,800 6,837 Deferred tax liabilities 849 379 Long term taxes payable 647 784 Operating lease liabilities - long-term portion 413 — Acquisition related consideration withheld in escrow (1) — 2,500 Other long-term liabilities 168 — Total other long-term liabilities $ 9,824 $ 18,002 (1) Refer to “Note 7. Business Combination”. (2) Refer to “Note 14. Commitments and Contingencies ”. Other Inc ome (Expense), Ne t Other income (expense), net consisted of the following (in thousands): Fiscal Year Ended January 31, 2023 2022 2021 Gain from deconsolidation of Meltano Inc. (1) $ 17,798 $ — $ — Foreign exchange gains (losses), net 4,364 (29,140) 23,423 Other expense, net (577) (1,710) 29 Total other income (expense), net $ 21,585 $ (30,850) $ 23,452 (1) Refer to “Note 11. Joint Venture and Equity Method Investment”. |
Business Combination
Business Combination | 12 Months Ended |
Jan. 31, 2023 | |
Business Combination and Asset Acquisition [Abstract] | |
Business Combination | 7. Business Combination On December 3, 2021, th e Company completed the acquisition of Opstrace, Inc., a technology company based in San Francisco, California. The transaction was accounted for as a business combination. The acquisition date fair value of the consideration transferred consisted of the following (in thousands): Cash consideration $ 2,970 Fair value of common stock issued on closing 959 Contingent common stock consideration (classified under additional paid-in capital) 1,754 Contingent cash consideration 3,007 Contingent cash consideration (classified under other long-term liabilities) 4,893 Total consideration $ 13,583 Cash consideration includes $2.5 million held back as partial security for post-closing indemnification claims made within 18 months of the closing da te recorded in a ccrued expenses and other current liabilities on the consolidated balance sheet as of January 31, 2023 and in other long-term liabilities as of January 31, 2022. As a result of acquisition, the fair value of the consideration transferred included contingent cash considerations of $7.9 million in aggregate. These contingent cash considerations are determined based upon the satisfaction of certain defined operational milestones and are remeasured at fair value at each reporting period through earnings. As the fair value is based on unobservable inputs, the liabilities are included in Level 3 of the fair value measurement hierarchy. In September 2022, one of the operational milestones was achieved and the Company paid $4.2 million of contingent cash consideration, part of which was previously recorded in accrued expenses and other current liabilities. The difference of $1.1 million between the amount accrued and the amount paid was attributable to the change in fair value of the original measurement and was recorded as a loss in general and administrative expenses during the year ended January 31, 2023. We reassessed the fair value of outstanding operational milestones and recorded the fair value gain of $1.7 million in general and administrative expenses for the year ended January 31, 2023. Accretion expense was $0.3 million for the year ended January 31, 2023. There was no accretion expense for the years ended January 31, 2022 and 2021. Results of operations of the business acquired have been included in our consolidated financial statements subsequent to the date of acquisition. The revenue and net loss earned by the business acquired following the acquisition are not material to our consolidated results of operations. |
Goodwill and Intangible Assets,
Goodwill and Intangible Assets, Net | 12 Months Ended |
Jan. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets, Net | 8. Goodwill and Intangible Assets, Net Goodwill The carrying amount of goodwill was as follows (in thousands): Carrying Amount Balance as of January 31, 2023 and January 31, 2022 $ 8,145 There was no goodwill impairment for any periods presented. Intangible Assets Intangible assets, net consisted of the following (in thousands): January 31, 2023 Gross Carrying Amount Accumulated Amortization Net Book Value Weighted average remaining amortization period (years) Developed technology from business combination $ 6,200 $ (2,401) $ 3,799 1.8 Developed technology from asset acquisitions (1) 1,359 (1,257) 102 0.3 Total $ 7,559 $ (3,658) $ 3,901 January 31, 2022 Gross Carrying Amount Accumulated Amortization Net Book Value Weighted average remaining amortization period (years) Developed technology from business combination $ 6,200 $ (334) $ 5,866 2.8 Developed technology from asset acquisitions (1) 1,402 (983) 419 1.3 Total $ 7,602 $ (1,317) $ 6,285 (1) The amounts in the tables above include cumulative foreign currency translation adjustments, reflecting movement in the currencies of the underlying intangibles. Amortization expense was $2.4 million, $0.7 million and $0.2 million for the years ended January 31, 2023, 2022 and 2021, respectively. As of January 31, 2023, future a mortization expense related to the intangibles assets is expected to be as follows (in thousands): Fiscal Years 2024 $ 2,166 2025 1,735 Total future amortization $ 3,901 |
Team Member Benefit Plans
Team Member Benefit Plans | 12 Months Ended |
Jan. 31, 2023 | |
Retirement Benefits [Abstract] | |
Team Member Benefit Plans | 9. Team Member Benefit PlansThe Company contributes to defined contribution plans in a number of countries including a 401(k) savings plan for U.S.-based team members and defined contribution arrangements in the United Kingdom, Australia, New Zealand and select other countries based on the legislative and tax requirements of the respective countries. Total contributions to these plans were $3.9 million, $2.8 million and $1.9 million for the years ended January 31, 2023, 2022 and 2021, respectively. |
Equity
Equity | 12 Months Ended |
Jan. 31, 2023 | |
Equity [Abstract] | |
Equity | 10. Equity In connection with our initial public offering (the “IPO”), on October 18, 2021, the Company filed a restated certificate of incorporation that authorized the issuance of 1,500,000,000 shares of Class A common stock, 250,000,000 shares of Class B common stock, and 50,000,000 shares of preferred stock at $0.0000025 par value for each class of shares. Common stockholders are entitled to dividends when and if declared by the board of directors. No dividends have been declared to date. The holder of each share of Class A common stock is entitled to one vote and the holder of each share of Class B common stock is entitled to ten votes. Common Stock The Company had shares of common stock reserved for future issuance as follows (in thousands): January 31, 2023 January 31, 2022 Class A and Class B common stock Options issued and outstanding 12,686 17,146 Shares available for issuance under Equity Incentive Plans 21,483 18,248 RSUs and PSUs issued and outstanding 8,336 3,280 Shares reserved for issuance to charitable organizations 1,636 1,636 2021 ESPP 4,303 3,271 Total 48,444 43,581 Early Exercised Options (subject to a repurchase right) Certain stock option holders have the right to exercise unvested options, subject to a repurchase right held by the Company at the original exercise price, in the event of voluntary or involuntary termination of employment of the holder. As of January 31, 2023 and January 31, 2022 , there were 194,304 and 713,967 shares, respectively, of unvested options that had been early exercised and were subject to repurchase for a total liability of $1.8 million and $6.8 million, respectively. The liability as sociated with early exercised options is included in other long-term liabilities in the consolidated balance sheets. For accounting purposes, issuance of shares will be recognized only on vesting. However, shares issued for the early exercise of options are included in issued and outstanding shares as they are legally issued and outstanding. Convertible Preferred Stock Upon the closing of the IPO, all 79.6 million shares of the Company’s convertible preferred stock outstanding were automatically converted into an equal number of shares of Class B common stock and their carrying value of $424.9 million was reclassified into stockholders’ equity. As of January 31, 2023 and January 31, 2022, there were no shares of convertible preferred stock issued and outstanding. Equity Incentive Plans In 2015, the Company adopted the 2015 Equity Incentive Plan (the “2015 Plan”), in which shares of common stock of the Company are reserved for issuance of stock options to team members, directors, or consultants. The options generally vest 25% upon completion of one year and then ratably over 36 months. Options generally expire ten years from the date of grant. All these options qualify as equity settled awards and contain no performance conditions. In September 2021, in connection with the IPO, the board of directors and stockholders approved the 2021 Equity Incentive Plan (the “2021 Plan”) as a successor to the Company’s 2015 Plan (together the “Plans”). The 2021 Plan authorizes the award of both stock options, which are intended to qualify for tax treatment under Section 422 of the Internal Revenue Code, and nonqualified stock options, as well for the award of restricted stock awards (“RSAs”), stock appreciation rights (“SARs”), restricted stock units (“RSUs”), performance stock units (“PSUs”) and stock bonus awards. Pursuant to the 2021 Plan, incentive stock options may be granted only to the Company’s team members. The Company may grant all other types of awards to its team members, directors, and consultants. The Company initially reserved 13,032,289 shares of its Class A common stock, plus any reserved shares of Class B common stock not issued or subject to outstanding grants under the 2015 Plan on the effective date of the 2021 Plan, for issuance as Class A common stock pursuant to awards granted under the 2021 Plan. The number of shares reserved for issuance under the 2021 Plan increases automatically on February 1 of each of the years from 2022 through 2031. The awards available for grant under the above Plans for the pe riods presented were as follows (in thousands): January 31, 2023 January 31, 2022 Available at beginning of period 18,248 4,796 Awards authorized 7,673 22,532 Options granted — (7,936) RSUs and PSUs granted (6,651) (3,290) RSUs and PSUs canceled and forfeited 657 10 Options canceled and forfeited 1,496 2,044 Options repurchased 60 92 Available at end of period 21,483 18,248 In the event that shares previously issued u nder the above Plans are reacquire d by the Company, such shares shall be added to the number of shares then available for issuance under the 2021 Plan. In the event that an outstanding stock option for any reason expires or is canceled, the shares allocable to the unexercised portion of su ch stock option will be added to the number of shares then available for issuance under the 2021 Plan. Both Plans allow the grantees to early exercise stock options. Stock Options, RSUs and PSUs The following table summarizes options activity under the Plans, and related information: Number of Stock Options Outstanding (in thousands) Weighted Average Exercise Price Weighted Average Remaining Years Aggregate Intrinsic value (in millions) Balances at January 31, 2020 16,253 $ 4.56 9.03 $ 70.6 Options granted 4,622 11.27 9.11 Options exercised (2,862) 4.87 5.56 Options canceled (79) 3.79 — Options forfeited (1,891) 5.50 — Balances at January 31, 2021 16,043 $ 6.33 8.39 $ 166.6 Options granted 7,936 18.68 8.50 Options exercised (4,789) 5.40 5.07 Options canceled (81) 6.20 — Options forfeited (1,963) 10.47 — Balances at January 31, 2022 17,146 $ 11.83 8.24 $ 894.8 Options granted — — Options exercised (2,964) 8.49 Options canceled (33) 9.46 Options forfeited (1,463) 14.52 Balances at January 31, 2023 12,686 $ 12.30 7.00 $ 470.8 Options vested at January 31, 2023 7,027 $ 9.43 6.42 $ 281.0 Options vested and expected to vest at January 31, 2023 12,686 $ 12.30 7.00 $ 470.8 No options were granted during the year ended January 31, 2023 and the aggregate grant-date fair value of options vested during the years ended January 31, 2023, 2022 and 2021 was $31.0 million, $10.8 million and $8.2 million, respectively. The weighted-average grant-date fair value per share of options granted was $10.81 and $3.55 for the years ended January 31, 2022 and 2021, respectively. The aggregate intrinsic value of options exercised during the years ended January 31, 2023, 2022 and 2021 was $123.4 million, $280.5 million and $33.8 million, respectively. The aggregate intrinsic value represents the difference between the exercise price and the fair value of the underlying common stock on the date of exercise. As of January 31, 2023 and January 31, 2022, approximately $46.2 million and $80.3 million, respectively, of total unrecognized compensation cost was related to stock options granted, that is expected to be recognized over a weighted-average period of 2.1 years and 2.7 years, respectively. The expected stock compensation expense remaining to be recognized reflects only outstanding stock awards as of the periods presented, and assumes no forfeitures. The fair value of each stock option grant was estimated on the date of grant, using a Black-Scholes option-pricing model, with the following weighted-average assumptions: Fiscal Year Ended January 31, 2022 2021 Risk-free interest rate 1.10 % 0.50 % Weighted-average volatility 43.50 % 31.90 % Weighted-average expected term (in years) 6.10 6.02 Dividend yield — % — % No options were granted during the year ended January 31, 2023. Prior to the IPO, the Company estimated the volatility of common stock on the date of grant based on the average historical stock price volatility of comparable publicly-traded companies in the Company's industry group. After the IPO, the Company will continue to use the historical volatility of comparable publicly-traded companies until we establish a sufficient public trading history. The expected term is based on the simplified method for grants to employees and on the contractual term for non-employees. The simplified method is used given the lack of historical exercise behavior data in the Company. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. The expected dividend yield is zero percent as the Company has not paid and does not anticipate paying dividends on common stock. The following table summarizes the Company’s RSU activity (in thousands): Number of Shares (1) Weighted- Balances at January 31, 2021 — $ — Granted 272 82.11 Vested — — Canceled/forfeited — — Balances at January 31, 2022 272 $ 82.11 Granted 6,286 52.52 Vested (930) 55.01 Canceled/forfeited (610) 54.56 Balances at January 31, 2023 5,018 $ 53.33 (1) The table above does not include 3 million RSUs issued to the Company’s founder and the CEO described below. These RSUs are grants of shares of the Company’s common stock, the vesting of which is based on the requisite service requirement. Generally, the Company’s RSUs are subject to forfeiture and are expected to vest over two As of January 31, 2023 and January 31, 2022, approximately $254.8 million and $21.5 million, respectively, of total unrecognized compensation cost was related to restricted stock units granted to team members other than the CEO, that is expected to be recognized over a weighted-average period of 3.2 years and 3.9 years, respectively. The expected stock compensation expense remaining to be recognized reflects only outstanding stock awards as of the periods presented, and assumes no forfeitures. In June 2022, the Company granted 0.4 million PSUs to senior members of its management team subject to revenue performance condition and service conditions. The number of awards granted represents 100% of the target goal; under the terms of the awards, the recipient may earn between 0% and 200% of the original grant. The performance condition is set to be achieved in fiscal 2025 and the service condition in the calendar year 2025. The Company recorded $1.6 million of stock-based compensation expense related to PSUs during the year ended January 31, 2023. As of January 31, 2023, unrecognized stock-based compensation expense related to these PSUs was $7.4 million to be recognized over a period of 2.9 years. CEO Performance Award In May 2021, the Company granted 3 million RSUs tied to its Class B common stock to Mr. Sijbrandij, the Company’s co-founder and CEO, with an estimated aggregate grant date fair value of $8.8 million. The Company recorded $1.7 million and $1.2 million of stock-based compensation expense related to the CEO RSUs during the years ended January 31, 2023 and 2022, respectively. As of January 31, 2023, unrecognized stock-based compensation expense related to these RSUs was $5.9 million which will be recognized over the remaining derived service period of the respective tranches which ranges from 2 to 7 years. 2021 Employee Stock Purchase Plan In September 2021, the Company’s board of directors and its stockholders approved the ESPP to enable eligible team members to purchase shares of the Company’s Class A common stock with accumulated payroll deductions and provides a 15% purchase price discount of the fair market value of the Company’s Class A common stock on the IPO date or purchase date, whichever is lower. The ESPP also provides up to a 27-month look-back period with four purchase dates in May and November of each year, and the first purchase occurred in May 2022. If the closing price of the Company’s Class A common stock on the first day of the current offering period is higher than the price on the last day of any applicable purchase period, the ESPP requires the price to be reset based on the lower fair market value and the offering period to be rolled over for a new period of 24 months. During fiscal 2023, this reset and rollover was triggered only on the May 31, 2022 purchase date. The original offering period commencing on the IPO date through November 30, 2023 was modified to a new offering period commencing June 1, 2022 through May 31, 2024 and the ESPP price was reset based on the closing price of the Company’s Class A common stock on May 31, 2022. In accordance with ASC 718, Stock-Based Compensation , the modification in respect of the reset of the ESPP price and rollover resulted in an incremental charge of stock-based compensation expense of $2.8 million during the year ended January 31, 2023. The remaining modification charge of $6.2 million will be recognized over the remainder of the new offering period. The following table summarizes assumptions used in estimating the fair value of the ESPP for the offering period in effect using the Black-Scholes option-pricing model: Fiscal Year Ended January 31, Fiscal Year Ended January 31, 2023 2022 Risk-free interest rate 1.62% - 4.55% 0.07% - 0.17% Volatility 44.95% - 55.19% 38.47% -41.75% Expected term (in years) 0.50 - 2.00 0.57 -1.07 Dividend yield —% —% The Company record ed $25.7 million and $5.1 million of stock-based compensation expense related to the ESPP during the years ended January 31, 2023 and 2022 , respectively. As of January 31, 2023, approximately $21.1 million of total unrecognized compensation cost was related to the ESPP that is expected to be recognized over 1.8 years. As of January 31, 2023 , the Company issued 0.4 million shares of Class A common stock to team members through the ESPP. Stock-Based Compensation Expense The Company recognized stock-based compensation expense as follows (in thousands): Fiscal Year Ended January 31, 2023 2022 2021 Cost of revenue $ 5,078 $ 1,300 $ 1,185 Research and development 36,325 8,305 31,519 Sales and marketing 48,001 10,550 21,504 General and administrative 33,163 9,854 57,638 Total stock-based compensation expense (1) (2) $ 122,567 $ 30,009 $ 111,846 (1) The table above includes stock-based compensation of JiHu. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. (2) The table above includes stock-based compensation related to the tender offers. The Company recognized $0.3 million and $103.3 million of incremental stock-based compensation expense related to the tender offers for fiscal 2022 and 2021 , respectively . The corporate income tax benefit recognized in the consolidated statements of operations for stock-based compensation expense was $7.7 million and $7.0 million for the years ended January 31, 2023 and 2022, respectively, and not material for the year ended January 31, 2021. |
Joint Venture and Equity Method
Joint Venture and Equity Method Investment | 12 Months Ended |
Jan. 31, 2023 | |
Noncontrolling Interest [Abstract] | |
Joint Venture and Equity Method Investment | 11. Joint Venture and Equity Method Investment Joint Venture In February 2021, the Company along with Sequoia CBC Junyuan (Hubei) Equity Investment Partnership (Limited Partnership) and Suzhou Gaocheng Xinjian Equity Investment Fund Partnership (Limited Partnership) executed an investment agreement (the “Investment Agreement”) to establish GitLab Information Technology (Hubei) Co., LTD (“JiHu”), a legal entity in the People’s Republic of China. The Company accounted for JiHu as a variable interest entity and consolidated the entity in accordance with ASC Topic 810, Consolidation . On March 29, 2022, JiHu closed its Series A-1 round of common stock financing where investors contributed $27.7 million, net of issuance costs. On July 1, 2022, JiHu closed its Series A-2 round of common stock financing where investors contributed $22.8 million, net of issuance costs. On September 7, 2022, JiHu closed its Series A-3 round of financing with an external investor who contributed $4.1 million, net of issuance costs. The Company accounted for these funding events as equity transactions with the carrying amount of the non-controlling interest adjusted to reflect the change in the ownership interest in JiHu, and the difference was recognized in the Company’s additional paid-in capital. Subsequent to the closing of the rounds, the Company retains control over JiHu with its equity stake reduced from 72% to 55%. In March 2022, one of the potential investors who could not participate in the Series A-1 financing round provided a $2.9 million loan to JiHu as an advance pending a capital contribution. The loan was repayable within ten business days of receipt of capital contribution from the investor. JiHu received an equity contribution from this investor during the Series A-2 round and repaid the loan in full in July 2022. During the year ended January 31, 2023, the board of directors of JiHu approved an employee stock option plan (“JiHu ESOP”) for its employees. During the year ended January 31, 2023, the Company recognized $7.8 million of stock-based compensation expense related to JiHu ESOP, respectively. As of January 31, 2023, approximately $14.5 million of total unrecognized compensation cost was related to the JiHu ESOP that is expected to be recognized over 3.2 years. The Company considers the RSAs and stock option awards granted pursuant to the JiHu ESOP as potentially dilutive equity instruments that will result in dilution of the Company’s stake in JiHu upon vesting of such award (or, in the case of option awards granted pursuant to the JiHu ESOP, upon vesting and subsequent exercise into shares of JiHu common stock). Any such dilution will be accounted for as an equity transaction. Until such awards granted pursuant to the JiHu ESOP are vested (or, in the case of option awards, vested and ultimately exercised into shares of JiHu common stock), the Company will continue to record the recognized stock-compensation expense of JiHu as part of the noncontrolling interest. Operating Leases The Company recognized $0.6 million, $0.2 million and zero of operating lease expense during the year ended January 31, 2023, 2022 and 2021 , respectively. The Company has non-cancelable operating leases maturing over the next two years with total lease payments of $1.2 million and total present value of lease liabilities of $1.1 million . The table below presents supplemental information related to operating leases for the year ended January 31, 2023 (in thousands, except weighted-average information): Weighted-average remaining lease term (in years) 1.30 Weighted-average discount rate 3.70 % Right-of-use assets obtained in exchange for new operating lease liabilities $ 515 Cash paid for amounts included in the measurement of lease liabilities $ 797 Selected financial information Selected financial information of JiHu, post intercompany eliminations, is as follows (in thousands): Fiscal Year Ended January 31, 2023 2022 Revenue $ 4,743 $ 1,237 Cost of revenue 1,731 945 Gross profit (loss) 3,012 292 Operating expenses: Sales and marketing 7,670 3,200 Research and development 6,818 2,299 General and administrative 10,515 3,589 Total operating expenses 25,003 9,088 Loss from operations (21,991) (8,796) Interest income 659 — Other income, net 1,633 67 Net loss before income taxes (19,699) (8,729) Net loss $ (19,699) $ (8,729) Net loss attributable to noncontrolling interest $ (8,385) $ (2,422) January 31, 2023 January 31, 2022 Cash and cash equivalents $ 56,744 $ 14,198 Property and equipment, net 1,135 769 Operating lease right-of-use assets 998 — Other assets 3,950 2,765 Total assets $ 62,827 $ 17,732 Total liabilities $ 8,871 $ 3,663 Equity Method Investment In April 2021, the Company reorganized Meltano Inc. (“Meltano”), which started as an internal project within the Company in July 2018, into a separate legal entity. The entity was funded by the Company’s contribution of intellectual property with the fair value of approximately $0.4 million and a preferred stock financing from third parties of $4.2 million, representing 12% ownership on a fully diluted basis. On April 4, 2022, Meltano closed its Series Seed-2 round of preferred stock financing and raised $7.2 million. Pursuant to this transaction, the board composition of Meltano changed and the Company no longer has the power to appoint the majority of the board of directors of Meltano. Consequently, despite having majority voting rights at the stockholder level, the Company no longer has control over Meltano. The loss of control of a majority owned subsidiary resulted in the deconsolidation of net assets of $9.4 million and non-controlling interest of Meltano of $11.3 million, recognition of retained interest at fair value of $15.9 million , and a gain of $17.8 million recorded in other income (expense), net during the year ended January 31, 2023 . The fair value of retained interest was determined using Option Pricing Model (“OPM”) Backsolve approach based on the most recent funding round of preferred stock. As of the date of the loss of control, the basis difference between the fair value of investment in Meltano and the Company’s share in the net assets of Meltano was attributed to equity method goodwill. Effective April 4, 2022, the Company accounts for this investment under the equity method and has recorded $12.7 million in “equity method investment” on its consolidated balance sheet as of January 31, 2023. During the year ended January 31, 2023, the Company recognized a loss from equity method investment of $2.5 million, net of tax on the consolidated statements of operations. |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 12. Income Taxes The components of total income (loss) from continuing operations before income taxes are as follows (in thousands): Fiscal Year Ended January 31, 2023 2022 2021 US $ (4,877) $ 19,486 $ (48,866) Foreign (170,453) (178,557) (140,496) Loss before income taxes $ (175,330) $ (159,071) $ (189,362) The provision for (benefit from) income taxes consisted of the following (in thousands): Fiscal Year Ended January 31, 2023 2022 2021 Current: Federal and State $ 1,432 $ (863) $ 2,517 Foreign 822 671 315 Total current $ 2,254 $ (192) $ 2,832 Deferred: Federal and State $ 614 $ (1,443) $ — Foreign 30 124 — Total deferred $ 644 $ (1,319) $ — Provision for (benefit from) income taxes $ 2,898 $ (1,511) $ 2,832 A reconciliation of the statutory U.S. federal income tax rate to the Company's effective tax rate is as follows: Fiscal Year Ended January 31, 2023 2022 2021 Tax at federal statutory rate 21.0 % 21.0 % 21.0 % State, net of federal benefit (0.2) 0.2 (0.2) Stock-based compensation (0.4) 5.0 (7.3) Non-deductible Executive Compensation (1.6) (0.5) — Research tax credit 2.7 1.0 0.2 Foreign rate differential 5.5 6.1 2.8 Change in valuation allowance (29.0) (30.3) (18.6) Foreign derived intangible income deduction 0.6 0.3 0.2 Unrecognized tax benefits (0.5) (1.3) — Other 0.2 (0.6) 0.4 Total (1.7) % 0.9 % (1.5) % Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts for income tax purposes. Significant components of the Company's deferred tax assets and liabilities are as follows (in thousands): January 31, 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 144,016 $ 99,291 Research tax credits 2,359 1,211 Deferred revenue 5,876 3,811 Accruals and other assets 3,590 2,714 Intangibles 8,278 14,751 Stock-based compensation 5,040 1,587 Gross deferred tax assets 169,159 123,365 Valuation allowance (159,470) (115,839) Net deferred tax assets 9,689 7,526 Deferred tax liabilities: Deferred contract acquisition costs (6,095) (6,516) Acquired intangibles (863) (1,389) Equity Method Investment (2,892) — Fixed Assets (499) — Other (189) — Net deferred tax liabilities $ (849) $ (379) Under the provisions of ASC 740, Income Taxes , the determination of the Company’s ability to recognize its deferred tax asset requires an assessment of both negative and positive evidence when determining the Company’s ability to recognize its deferred tax assets. The Company determined that it was not more likely than not that the Company could recognize certain deferred tax assets. The evidence evaluated by the Company included operating results during the most recent three-year period and future projections, with more weight given to historical results than expectations of future profitability, which are inherently uncertain. Certain entities’ net losses in recent periods represented sufficient negative evidence to require a valuation allowance against its net deferred tax assets. This valuation allowance will be evaluated periodically and could be reversed partially or totally if business results have sufficiently improved to support realization of deferred tax assets. The increase of $43.6 million in the valuation allowance for the year ended January 31, 2023 is primarily due to net operating losses generated during the year. As of January 31, 2023, the Company recorded $0.8 million of deferr ed tax liabilities, net. The Company has not recorded a provision for deferred U.S. tax expense that could result from the remittance of foreign undistributed earnings since the Company intends to reinvest the earnings of the foreign subsidiaries indefinitely. The Company’s share of the undistributed earnings of foreign corporations not included in its consolidated federal income tax returns that could be subject to additional U.S. income tax if remitted is immaterial. As of January 31, 2023 , the amount of unrecognized U.S federal deferred income tax liability for undistributed earnings is immaterial. As of January 31, 2023, the Company had federal net operating loss carryforwards of approximately $2.3 million, state net operating loss carryforwards of approximately $87.7 million and foreign net operating loss carryforwards of approximately $539.9 million. All of the federal net operating loss carryforwards are carried over from an entity acquired in the previous fiscal year. The federal net operating loss carryforwards do not expire as they were generated post Tax Cuts and Jobs Act, where net operating losses generated after December 31, 2017 do not expire. The U.S. state net operating loss carryforwards, if not utilized, will begin to expire on various dates beginning in 2032. The foreign net operating loss carryforwards, if not utilized, will begin to expire on various dates beginning in 2027. In addition, the Company has research tax credit carryforwards of approximately $4.2 million for federal purposes. The U.S. Federal Research & Experimentation (R&E) credit, if not utilized, will begin to expire in 2042. The Company also has research tax credit carryforwards of approximately $1.4 million for U.S. state purposes, which if not utilized, will begin to expire in 2030. Pursuant to the U.S. Internal Revenue Code, the Net Operating Loss and R&E credit could be subject to limitation should the Company experience an owner shift of greater than 50 percent over a 3 year period; however at this time, the effect of this limitation is immaterial. Uncertain Tax Positions At January 31, 2023, the Company’s U.S. federal 2018 through 2021 tax years were open and subject to potential examination in one or more jurisdictions. In addition, in the United States, any net operating losses or credits that were generated in prior years but not yet fully utilized in a year that is closed under the statute of limitations may also be subject to examination. The Company is currently under examination in the Netherlands for tax years 2015 and 2016. The Company is currently unable to estimate the financial outcome of this examination due to its preliminary status. The Company regularly assesses the likelihood of adverse outcomes resulting from these examinations to determine the adequacy of its provision for income taxes. The Company continues to monitor the progress of ongoing discussions with tax authorities and the effect, if any, of the expected expiration of the statute of limitations in various taxing jurisdictions. As of January 31, 2023, unrecognized tax benefits approxim ated $7.5 million, of which $0.5 million would affect the effective tax rate if recognized. As of January 31, 2022, unrecognized tax benefits approximated $5.6 million, of which $0.8 million would affect the effective tax rate if recognized. The Company anticipates an immaterial amount of unrecognized tax benefits to reverse in the next 12 months. The reconciliation of the Company's unrecognized tax benefits is as follows (in thousands): January 31, 2023 2022 Beginning balance $ 5,557 $ — Gross increases and decreases due to tax positions taken in prior periods 685 4,076 Gross increases and decreases due to tax position taken in current period 1,369 1,481 Gross increases and decreases due to settlements with taxing authorities — — Gross increases and decreases due to lapses in applicable statutes of limitations (151) — Ending balance $ 7,460 $ 5,557 It is the Company’s policy to classify accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes. For the years ended January 31, 2023, 2022 and 2021, the Company recognized interest and penalties of $0.2 million, $0.1 million and zero, respectively. |
Net Loss per Share
Net Loss per Share | 12 Months Ended |
Jan. 31, 2023 | |
Earnings Per Share [Abstract] | |
Net Loss per Share | 13. Net Loss per Share The following table sets forth basic and diluted loss per share for each of the periods presented (in thousands, except per share data): Fiscal Year Ended January 31, 2023 2022 2021 Numerator: Net loss attributable to GitLab $ (172,311) $ (155,138) $ (192,194) Denominator: Weighted-average shares used to compute net loss per share attributable to GitLab Class A and Class B common stockholders, basic and diluted 148,407 79,755 50,343 Net loss per share attributable to GitLab Class A and Class B common stockholders, basic and diluted $ (1.16) $ (1.95) $ (3.82) Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods as the inclusion of all potential common shares outstanding would have been anti-dilutive. Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows (in thousands): As of January 31, 2023 January 31, 2022 January 31, 2021 Shares subject to outstanding common stock options 12,686 17,146 16,043 Unvested restricted stock in connection with business combination 8 16 — Unvested early exercised stock options 194 714 1,510 Unvested RSUs and PSUs 8,336 3,264 — Shares subject to the 2021 ESPP 81 256 — Convertible preferred stock (on an if-converted basis) — — 79,551 Warrants — — 73 Total 21,305 21,396 97,177 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jan. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 14. Commitments and Contingencies Contractual Obligations and Commitments The Company’s contractual commitments relate mainly to third-party non-cancelable hosting infrastructure agreements and subscription arrangements used in the ordinary course of business. Future minimum payments under the Company’s non-cancelable purchase commitments as of January 31, 2023 were as follows (in thousands): Total Less than 1 Year 1-3 Years Purchase commitments (1) $ 216,948 $ 112,911 $ 104,037 (1) The table above includes $126 million of remaining non-cancelable contractual commitments as of January 31, 2023 related to one of the Company’s hosting infrastructure vendors, under which the Company committed to spend an aggregate of at least $171 million between October 2020 and September 2025. Loss Contingencies In accordance with ASC 450, Loss Contingencies, the Company accrues for contingencies when losses become probable and reasonably estimable. Accordingly, the Company has recorded an estimated liability related to certain labor matters regarding its use o f contractors in certain foreign countries. As of January 31, 2023 and January 31, 2022 , the estimated liability relating to these matters w as $2.5 million and $2.6 million, respectively. Warranties and Indemnifications 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 significant 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 consolidated financial statements. In the ordinary course of business, the Company enters into contractual arrangements under which the Company agrees to provide indemnification of varying scope and terms to business partners and other parties with respect to certain matters, including, but not limited to, losses arising out of the breach of such agreements, intellectual property infringement claims made by third parties, and other liabilities relating to or arising from the Company’s platform or the Company’s acts or omissions. In these circumstances, payment may be conditional on the other party making a claim pursuant to the procedures specified in the particular contract. Further, the Company’s obligations under these agreements may be limited in terms of time and/or amount, and in some instances, the Company may have recourse against third parties for certain payments. In addition, the Company has agreed to indemnify its directors and executive officers for costs associated with any fees, expenses, judgments, fines, and settlement amounts incurred by any of these persons in any action or proceeding to which any of those persons is, or is threatened to be, made a party by reason of the person’s service as a director or officer, including any action by the Company, arising out of that person’s services as the Company’s director or officer or that person’s services provided to any other company or enterprise at the Company’s request. The Company maintains director and officer insurance coverage that may enable the Company to recover a portion of any future amounts paid. Legal Proceedings The Company is, and from time to time, may become involved in legal proceedings or be subject to claims arising in the ordinary course of its business. The Company is not presently a party to any legal proceedings that in the opinion of management, if determined adversely to the Company, would individually or taken together have a material adverse effect on its business, financial condition or operating results. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jan. 31, 2023 | |
Subsequent Events [Abstract] | |
Subsequent Events | 15. Subsequent Events Reduction in Force (“RIF”) In the first quarter of fiscal year 2024, the Company announced a plan to reduce its global headcount by approximately 7% of the total headcount, following a review of the Company’s business structure and after taking other cost-cutting measures to reduce expenses. As a result of the above plan, the Company recognized total restructuring charges of approximately $9.0 million in the first quarter of fiscal year 2024, which consisted primarily of one-time severance and other termination benefit costs of $7.5 million, as well as accelerated stock-based compensation directly related to this reduction in force of $1.5 million. |
Schedule II_ Valuation and Qual
Schedule II: Valuation and Qualifying Accounts | 12 Months Ended |
Jan. 31, 2023 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
Schedule II: Valuation and Qualifying Accounts | Schedule II: Valuation and Qualifying Accounts The table below details the activity of the deferred tax valuation allowance for the fiscal years ended January 31, 2023, 2022 , and 2021: Balance at Beginning of Year Additions Write-offs or Deductions Balance at End of Year (in thousands) Year ended January 31, 2023 Deferred tax valuation allowance $ 115,839 $ 43,631 $ — $ 159,470 Year ended January 31, 2022 Deferred tax valuation allowance $ 74,870 $ 40,969 $ — $ 115,839 Year ended January 31, 2021 Deferred tax valuation allowance $ 37,847 $ 37,023 $ — $ 74,870 |
Basis of Presentation and Sum_2
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). |
Fiscal Year | Fiscal Year The Company's fiscal year ends on January 31. For example, references to fiscal 2023 and 2022 refer to the fiscal year ended January 31, 2023 and 2022, respectively. |
Use of Estimates | Use of Estimates The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Such estimates include, but are not limited to, allocation of revenue to the license element in the Company's self-managed subscriptions, estimating the amortization period for capitalized costs to obtain a contract, allowance for doubtful accounts, stock-based compensa tion expense, fair value of contingent consideration, fair valuation of retained interest in an investee on loss of control, valuation allowance for deferred income taxes, valuation of intangibles assets and impairment of goodwill and equity method investments. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from those estimates. |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include 100% of the accounts of wholly owned and majority owned subsidiaries as well as a variable interest entity for which our Company is the primary beneficiary. The ownership interest of other investors is recorded as noncontrolling interest. All intercompany accounts and transactions have been eliminated in consolidation. |
Foreign Currency | Foreign Currency The reporting currency of the Company is the U.S. dollar. The Company determines the functional currency of each foreign subsidiary and the variable interest entity in accordance with ASC 830, Foreign Currency Matters, based on the currency of the primary economic environment in which each subsidiary and the variable interest entity operate. Items included in the financial statements of such subsidiaries and the variable interest entity are measured using that functional currency. For subsidiaries where the U.S. dollar is the functional currency, foreign currency denominated monetary assets and liabilities are re-measured into U.S. dollars at current exchange rates and foreign currency denominated non-monetary assets and liabilities are re-measured into U.S. dollars at historical exchange rates. Gains or losses from foreign currency remeasurement and settlements are included in foreign exchange gains (losses), net which is presented within other income (e xpense), net on the consolidated statements of operations. For the years ended January 31, 2023 , 2022 and 2021, the Company recognized foreign exchange gains (losses), net of $4.4 million, $(29.1) million and $23.4 million, respectively. For subsidiaries and the variable interest entity where the functional currency is other than the U.S. dollar, the Company uses the period-end exchange rates to translate assets and liabilities, the average monthly exchange rates to translate revenue and expenses, and historical exchange rates to translate stockholders’ equity (deficit) into U.S. dollars. The Company records translation gains and losses in accumulated other c omprehensive income (loss) as a component of stockholders’ equity (deficit) in the consolidated balance sheets. For the years ended January 31, 2023, 2022 and 2021, the Company recognized foreign translation adjustments of $(5.9) million, $27.6 million and $(24.0) million, respectively. |
Cash, Cash Equivalents, and Restricted Cash | Cash, Cash Equivalents, and Restricted Cash Cash and cash equivalents as of January 31, 2023 and 2022, consists of cash held in checking and savings accounts, investments in money market accounts and certain highly-liquid investments. The Company considers all highly-liquid investments purchased with an original or remaining maturity of three months or less at the date of purchase to be cash equivalents. Restricted cash as of January 31, 2023 and 2022, consists of a $2.5 million acquisition related security deposit withheld in an escrow for any potential post-closing indemnification claims. Refer to “Note 7. Business Combination |
Short-Term Investments - Marketable Securities | Short-Term Investments - Marketable Securities The Company classifies its marketable securities with stated maturities of three months and greater at the date of purchase as short-term investments due to its ability to use these securities to support the Company’s current operations. As of January 31, 2023, a ll short-term investments are classified as available-for-sale and are reported at fair value, which is based on quoted market prices for such securities, if available, or based on quoted market prices of financial instruments with similar characteristics. If the fair value of a security falls below its amortized cost, the carrying value is reduced to its fair value if management intends to sell or it is more likely than not that it will be required to sell before recovery of the amortized cost basis. If neither of these conditions are satisfied, impairment is assessed for credit losses by comparing the present value of expected cash flows with the amortized cost basis, and an allowance for credit losses is recorded for the excess of amortized cost over expected cash flows. Impairment losses not attributable to credit losses are reported as a separate component of other comprehensive loss, net of tax. As of January 31, 2022, short-term investments comprised of certificates of deposit with a bank with an original maturity of greater than three months at the date of purchase. Such investments were carried at amortized cost, which approximated their fair value. The cost of securities sold is based on the specific-identification method and realized gains and losses on available-for-sale securities are recognized upon sale and are included in other income (expense), net in the consolidated statements of operations. Interest on securities classified as available-for-sale is included within Interest income on our consolidated statements of operations. |
Accounts Receivable and Allowance for Doubtful Accounts | Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable, which represent trade receivables from the Company’s customers, are recorded at the invoiced amount and do not bear interest. The Company extends credit of typically 30 to 60 days to its customers in the normal course of business and does not require collateral from its customers. The allowance for doubtful accounts is the Company’s best estimate of the amount of expected credit losses in existing accounts receivable. |
Concentration of Credit Risk and Significant Customers | Concentration of Credit Risk and Significant Customers Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents, restricted cash, short-term investments, and accounts receivable. At times, cash deposits may be in excess of insured limits. The Company believes that the financial institutions or corporations that hold its cash, cash equivalents, restricted cash, and short-term investments are financially sound and, accordingly, minimal credit risk exists with respect to these balances. The Company maintains allowances for potential credit losses on accounts receivable when deemed necessary. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments We define fair value as the price that would be received from selling an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities which are required to be recorded at fair value, we consider the principal or most advantageous market in which to transact and the market-based risk. We apply fair value accounting for all financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The carrying amounts reported in the consolidated financial statements approximate the fair value for cash equivalents, restricted cash, short-term investments, accounts receivable, accounts payable and accrued liabilities due to their short-term nature. The Company also recorded at fair value acquisition related contingent considerations further discussed in “Note 7. Business Combination.” The Company measures assets and liabilities at fair value at each reporting period using a fair value hierarchy which requires it to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. U.S. GAAP describes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, to measure the fair value: Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Inputs are unobservable based on the Company’s own assumptions used to measure assets and liabilities at fair value. The inputs require significant management judgment or estimation. Fair value estimates are made at a specific point in time based on relevant market information and information about the financial or nonfinancial asset or liability. The Company determines fair value based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value assumes that the transaction to sell the asset or transfer the liability occurs in the principal or most advantageous market for the asset or liability and establishes that the fair value of an asset or liability shall be determined based on the assumptions that market participants would use in pricing the asset or liability. The classification of a financial asset or liability within the hierarchy is based upon the lowest level input that is significant to the fair value measurement. The fair value hierarchy prioritizes the inputs into three levels that may be used to measure fair value: Level 1: Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. Level 2: Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3: Inputs are unobservable based on the Company’s own assumptions used to measure assets and liabilities at fair value. The inputs require significant management judgment or estimation. The fair value of the Company’s Level 1 financial instruments, such as money market funds which are traded in active markets, is based on quoted market prices for identical instruments. The fair value of the Company’s Level 2 financial instrumen ts such as commercial paper, corporate debt and U.S. government securities are obtained from an independent pricing service, which may use inputs other than quoted prices that are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security that may not be actively traded. The Company’s marketable securities are held by custodians who obtain investment prices from a third-party pricing provider that incorporates standard inputs in various asset price models. |
Revenue Recognition | Revenue Recognition The Company generates revenue primarily from offering self-managed (on-premise) and SaaS subscriptions. Revenue is also generated from professional services, including consulting and training. In accordance with ASC 606, revenue is recognized when a customer obtains control of the promised products and services. The amount of revenue recognized reflects the consideration that the Company expects to be entitled to receive in exchange for these products and services. To achieve the core principle of this standard, the Company applies the following five-step model as a framework: 1) Identify the contract with a customer. We consider the terms and conditions of our arrangements with customers to identify contracts under ASC 606. We consider that we have a contract with a customer when the contract is approved, we can identify each party's rights regarding the products and services to be transferred, we can identify the payment terms for the products and services, we have determined the customer has the ability and intent to pay, and the contract has commercial substance. We apply judgment in determining the customer's ability and intent to pay, which is based upon factors including the customer's historical payment experience or, for new customers, credit and financial information pertaining to the customers. At contract inception, we also evaluate whether two or more contracts should be combined and accounted for as a single contract. Further, contract modifications generally qualify as a separate contract. The typical term of a subscription contract for self-managed or SaaS offering is one to three years. Our contracts are non-cancelable over the contract term and we act as principal in all our customer contracts. Customers have the right to terminate their contracts generally only if we breach the contract and we fail to remedy the breach in accordance with the contractual terms. 2) Identify the performance obligations in the contract . Performance obligations in our contracts are identified based on the products and services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the product or service either on its own or together with other resources that are readily available from third parties or from us, and are distinct in the context of the contract, whereby the transfer of the product or service is separately identifiable from other promises in the contract. Our self-managed subscriptions include two performance obligations: (i) to provide access to proprietary features in our software, and (ii) to provide support and maintenance (including the combined obligation to provide software updates on a when-and-if-available basis). Our SaaS products provide access to hosted software as well as support, which is evaluated to be a single performance obligation. Services-related performance obligations relate to the provision of consulting and training services. These services are distinct from subscriptions and do not result in significant customization of the software except in certain limited unique contracts. Some of our customers have the option to purchase additional licenses or renew at a stated price. These options are evaluated on a case-by-case basis but generally do not provide a material right as they are either at the same price as the existing licenses or are within our range of standalone selling price (“SSP”) and, as such, would not result in a separate performance obligation. Where material rights are identified in our contracts, they are treated as separate performance obligations. 3) Determine the transaction price . We determine transaction price based on the consideration to which we expect to be entitled in exchange for transferring products and services to the customer. Variable consideration is included in the transaction price only to the extent it is probable that a significant future reversal of cumulative revenue under the contract will not occur when the uncertainty associated with the variable consideration is resolved. Our contracts are non-refundable and non-cancellable. We do not offer refunds, rebates, or credits to our customers in the normal course of business. The impact of variable considerations has not been material. For contracts with a one year term, we applied a practical expedient available under ASC 606 and made no evaluation for the existence of a significant financing component. In these contracts, at contract inception, the period between when we expect to transfer a promised product or service to the customer and when the customer pays for that product or service will be one year or less. For contracts with terms of more than a year, we have applied judgment in determining that advance payments in such contracts are not collected with the primary intention of availing finance and therefore, do not represent a significant financing component. Revenue is recognized net of any taxes collected from customers which are subsequently remitted to governmental entities (e.g., sales tax and other indirect taxes). We do not offer the right of refund in our contracts. 4) Allocate the transaction price to the performance obligations in the contract. If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. For contracts that contain multiple performance obligations, we allocate the transaction price for each contract to each performance obligation based on the relative SSP for each performance obligation. We use judgment in determining the SSP for our products and services. We typically assess the SSP for our products and services on an annual basis or when facts and circumstances change. To determine SSP, we maximize the use of observable standalone sales and observable data, where available. In instances where performance obligations do not have observable standalone sales, we utilize available information that may include other observable inputs or use the expected cost-plus margin approach to estimate the price we would charge if the products and services were sold separately. The expected cost-plus margin approach is currently used to determine SSP for each distinct performance obligation for self-managed subscriptions. We have concluded that (i) the right to use the software and (ii) the right to receive technical support and software fixes and updates are two distinct performance obligations in our self-managed subscriptions. Since neither of these performance obligations are sold on a standalone basis, we estimate SSP for each performance obligation using a model based on the “expected cost-plus margin” approach and update the model on an annual basis or when facts and circumstances change. This model uses observable data points to develop the main inputs and assumptions, which include the estimated historical costs to develop the paid features in the software license and the estimated future costs to provide post-contract customer support. 5) Revenue is recognized when or as we satisfy a performance obligation . Revenue is recognized at the time the related performance obligation is satisfied by transferring the promised products and services to a customer. We recognize revenue when we transfer control of the products and services to our customers for an amount that reflects the consideration that we expect to receive in exchange for those products and services. All revenue is generated from contracts with customers. Subscription - self-managed and SaaS Subscription - self-managed The Company's self-managed subscriptions include support, maintenance, upgrades, and updates on a when-and-if-available basis. Revenue for self-managed subscriptions is recognized ratably over the contract period based on the stand-ready nature of subscription elements. The Company offers two tiers of paid subscriptions as part of the self-managed model: Premium and Ultimate. Subscriptions for self-managed licenses include both (i) a right to use the underlying software (License revenue - Self managed) and (ii) a right to receive post-contract customer support during the subscription term (Subscription revenue - Self managed). Post-contract customer support comprises maintenance services (including updates and upgrades to the software on a when-and-if-available basis) and support services. The Company has concluded that the right to use the software, which is recognized upon delivery of the license, and the right to receive technical support and software fixes and updates, which is recognized ratably over the term of the arrangement, are two distinct performance obligations. Since neither of these performance obligations are sold on a standalone basis, the Company estimates the SSP for each performance obligation using a model based on the “expected cost-plus margin” approach and updates the model on an annual basis or when facts and circumstances change. This model uses observable data points to develop the main inputs and assumptions which include the estimated historical costs to develop the paid features in the software license and the estimated future costs to provide post-contract customer support. Based on this model, the Company allocated between 1 to 23% of the entire transaction price to the right to use the underlying software (License revenue - Self managed) and allocated the remaining value of the transaction to the right to receive post-contract customer support (Subscription revenue - Self managed) during the period covered by these consolidated financial statements. The typical term of a subscription contract for self-managed offering is one to three years. As of January 2021, Starter tier is no longer offered to new customers but remains available for a limited transitory period to our existing customers. SaaS We also offer two tiers of paid SaaS subscriptions: Premium and Ultimate. These subscriptions provide access to our latest managed version of our product hosted in a public or private cloud based on the customer’s preference. Revenue from our SaaS products (Subscription revenue - SaaS) is recognized ratably over the contract period when the performance obligation is satisfied. The typical term of a subscription contract for SaaS offering is one to three years. As of January 2021, Starter tier is no longer offered to new customers but remains available for a limited transitory period to our existing customers. License - self-managed and other The license component of our self-managed subscriptions reflects the revenue recognized by providing customers with rights to use proprietary software features. The Company allocates between 1 to 23% of the transaction value to License revenue, which is recognized upfront when the software license is made available to our customers. Other revenue consists of professional services revenue which is derived from fixed fee and time and materials offerings, subject to customer acceptance. Given the Company’s limited history of providing professional services, uncertainty exists about customer acceptance and therefore, control is presumed to transfer upon confirmation from the customer, as defined in each professional services contract. Accordingly, revenue is recognized upon satisfaction of all requirements per the applicable contract. Revenue from professional services provided on a time and material basis is recognized over the periods services are delivered. The Company presents financial information about disaggregation of revenue in “Note 3. Revenues” of the consolidated financial statements. Deferred Revenue and Contract Assets Contract liabilities consist of deferred revenue and include payments received in advance of performance under the contract. Such amounts are recognized as revenue over the contractual period. The portion of deferred revenue that the Company will recognize during the twelve-month period from the balance sheet date is recorded within current liabilities and the remaining portion is recorded as long-term. The Company receives payments from customers based upon contractual billing schedules and accounts receivable are recorded when the right to consideration becomes unconditional. Customers are generally billed in advance, including some multi-year contracts, but the majority of customers in multi-year contracts specifically request to pay annually in advance. Payment terms on invoiced amounts are typically 30 to 60 days. In limited cases, the Company has offered deferred payment terms of a maximum of one year in contracts with a one year contractual term. For multi-year license subscriptions, we generally invoice customers annually at the beginning of each annual coverage period and the license revenue for the full multi-year term is recognized upfront on delivery from deferred revenue. Where the value of revenue recognized exceeds the value of amounts invoiced for a contract at the end of a reporting period, it is reclassed from deferred revenue to contract assets until invoiced. Contract assets are included in prepaid expenses and other current assets on the consolidated balance sheets. During the years ended January 31, 2023, 2022 and 2021, $145.9 million, $87.1 million and $58.1 million, respectively, of revenue was recognized, which was included in the corresponding deferred revenue balance at the beginning of the reporting periods presented. The increase in deferred revenue balances for the periods presented is mainly attributable to the growth of contracts with new as well as existing customers. Remaining Performance Obligations As of January 31, 2023 and 2022, the aggregate amount of the transaction price allocated to billed and unbilled remaining performance obligations for which revenue has not yet been recognized was approximately $435.9 million and $312.4 million, respectively. As of January 31, 2023, the Company expected to recognize approximately 71% of the transaction price as product or services revenue over the next 12 months and 92% over the next 24 months. Deferred Contract Acquisition Costs Sales commissions and bonuses that are direct and incremental costs of the acquisition of contracts with customers are capitalized. These costs are recorded as deferred contract acquisition costs on the consolidated balance sheets. The Company determines whether costs should be deferred when the costs are direct and incremental and would not have occurred absent the customer contract. The deferred commission and bonus amounts are recoverable through the future revenue streams from our customer contracts all of which are non-cancelable. Commissions and bonuses paid upon the acquisition of an initial contract are amortized over an estimated period of benefit which has been determined generally to be three years based on historical |
Cost of Revenue | Cost of Revenue Cost of revenue for self-managed and SaaS subscriptions consists primarily of allocated cloud-hosting costs paid to third party service providers, personnel-related costs associated with our customer support personnel, including contractors; and allocated overhead. Personnel-related expenses consist of salaries, benefits, bonuses, and stock-based compensation. |
Research and Development | Research and Development Costs related to research and development of the Company’s software offerings are expensed as incurred. These costs consist primarily of compensation paid to the Company's research and development personnel, including contractors; and allocated overhead associated with developing new features or enhancing existing features. The Company’s internal customer software development process follows an iterative process that results in more frequent software releases than do traditional sequential or waterfall development methodologies and also results in internal validation of the software releases very shortly before they are made available to customers. Therefore, to date, costs to develop software that is marketed externally have not been capitalized as the current software development process is essentially completed concurrently with the establishment of technological feasibility through internal validation of the software releases. As such, all related software development costs are expensed as incurred and included in research and development expenses in the consolidated statements of operations. To date, software development for internal use has been immaterial and no such costs have been capitalized. |
Advertising Costs | Advertising CostsAdvertising costs are expensed as incurred and are included within sales and marketing expenses in the consolidated statements of operations. These include costs incurred on public relations, website design, advertising, field marketing, and market research services. |
Loss Contingencies | Loss Contingencies If an exposure to any potential claim or legal proceeding is considered probable and the amount can be reasonably estimated, the Company records a liability for the estimated loss. Significant judgment is required in both the determination of probability and the determination as to whether an exposure is reasonably estimable. If applicable, the Company records receivables for probable insurance or other third-party recoveries. Due to uncertainties related to these matters, accruals are based on the best information available at the time. As additional information becomes available, the Company reassesses the potential liability and may revise its estimates. These revisions in the estimates of the potential liabilities could have a material impact on the Company’s results of operations and financial position. Legal fees and other costs associated with such actions are expensed as incurred. |
Income Taxes | Income Taxes The Company is subject to income taxes in the United States and several foreign jurisdictions. The Company records a provision for income taxes for the anticipated tax consequences of the reported results of operations using the asset and liability method. Under this method, the Company recognizes deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial reporting and the tax basis of assets and liabilities, as well as for operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using the tax rates that are expected to apply to taxable income for the years in which those tax assets and liabilities are expected to be realized or settled. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts more likely than not expected to be realized. Management applies significant judgment in assessing the positive and negative evidence available in the determination of the amount of deferred tax assets that were more likely than not to be realized in the future. Future realization of deferred tax assets ultimately depends on the existence of sufficient taxable income of the appropriate character (for example, ordinary income or capital gain) within the carryback or carryforward periods available under the tax law. The Company regularly reviews the deferred tax assets for recoverability based on historical taxable income, projected future taxable income, the expected timing of the reversals of existing temporary differences, and tax planning strategies. The Company’s judgments regarding future profitability may change due to many factors, including future market conditions and the ability to successfully execute its business plans and/or tax planning strategies. Should there be a change in the ability to recover deferred tax assets, the tax provision would increase or decrease in the period in which the assessment is changed. Compliance with income tax regulations requires the Company to take certain tax positions. In assessing the exposure associated with various filing positions, the Company determines whether a tax position is more likely than not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The Company uses a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of the available evidence indicates that it is more likely than not that the position will be sustained upon tax authority examination, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than fifty percent likely of being realized upon ultimate settlement. Interest and penalties related to unrecognized tax benefits, if any, are included within the provision for income taxes in the consolidated statement of operations. |
Comprehensive Loss and Accumulated Other Comprehensive Income (Loss) | Comprehensive Loss and Accumulated Other Comprehensive Income (Loss) Comprehensive loss includes net loss and changes in stockholders’ equity (deficit) that are excluded from net loss due to changes in the Company’s cumulative foreign currency translation account and unrealized gains or losses on short-term investments. |
Net Loss per Share Attributable to Common Stockholders | Net Loss per Share Attributable to Common Stockholders Basic net loss per share is based on the weighted-average effect of all common shares issued and outstanding and is calculated by dividing net loss attributable to common stockholders by the weighted-average shares outstanding during the period. Diluted net loss per share is calculated by dividing net loss by the weighted-average number of common shares used in the basic loss per share calculation plus the number of common shares that would be issued assuming exercise or conversion of all potentially dilutive instruments. We exclude equity instruments from the calculation of diluted loss per share if the effect of including such instruments is anti-dilutive. Since we are in a net loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods as the inclusion of all potentially dilutive securities outstanding would have been anti-dilutive. For this calculation, convertible preferred stock, warrants and stock options are considered potentially dilutive instruments. While the convertible preferred stock had participating rights for dividends, it did not participate in losses and hence did not qualify as a participating security in the periods in which the Company generated a loss. |
Stock-Based Compensation | Stock-Based Compensation The Company has granted equity classified stock-based awards to team members, members of its board of directors, and non-employee advisors. The majority of the Company's stock-based awards have been granted to team members and the service-based vesting condition for the majority of these awards is satisfied over four years. The cost of stock-based awards granted to team members is measured at the grant date, based on the fair value of the award, and is generally recognized as expense on a straight-line basis over the requisite service period. Forfeitures are recorded as they occur. The Company has elected to use the Black-Scholes option pricing model to determine the fair value of stock options. The Company records incremental stock-based compensation expense when certain affiliated stockholders or new investors purchase shares from team members and founders of the Company in excess of the fair value of such shares as part of secondary stock purchase transactions. The Company recognized any such excess value as stock-based compensation expense in the consolidated statements of operations. In May 2021, the Company granted 3 million shares of restricted stock units (“RSUs”) tied to our Class B common stock to Mr. Sijbrandij, our founder and CEO. The RSUs contain a service condition and a performance condition based on the achievement of eight separate stock price hurdles/tranches ranging from $95 to $500 per share. The fair value of the RSUs was determined utilizing a Monte Carlo valuation model. We recognize total stock-based compensation expense over the derived service period of each tranche using the accelerated attribution method, regardless of whether the stock price hurdles are achieved. Refer to “Note 10. Equity” for further discussion. In September 2021, our board of directors and our stockholders approved the 2021 Employee Stock Purchase Plan (“ESPP”) to enable eligible team members to purchase shares of our Class A common stock with accumulated payroll deductions. We recognize stock-based expenses related to the shares to be issued under the ESPP on a straight-line basis over the offering period, using the Black-Scholes option-pricing model, and determine volatility over an expected term based on the historical volatility of the Company’s peer group, until we establish a sufficient public trading history of our own stock price. In June 2022, the Company granted 0.4 million performance stock units (“PSUs”) to senior members of its management team subject to a revenue performance condition and service conditions. The number of PSUs that will ultimately vest will depend on the revenue achieved by the Company in fiscal 2025 relative to the defined target and these estimates are regularly reviewed by the Company. The fair value of PSUs is measured at the market price of the Company’s Class A common stock on the date of grant and compensation costs related to awards expected to vest are recognized on a graded-vesting method over the requisite service period. The estimate of awards expected to vest is reassessed by management at each reporting period. |
Segment Reporting | Segment Reporting Our primary business activity is to sell subscriptions on both self-managed and SaaS models. Our chief operating decision maker, who is the Co-founder and Chief Executive Officer, reviews financial information presented on a consolidated basis for the purposes of making operating decisions, allocating resources and evaluating financial performance. Accordingly, we operate our business as one operating segment and one reporting unit. The Company presents financial information about geographical mix of revenue in “Note 3. Revenues” of the consolidated financial statements. |
Business Combination | Business Combination We include the results of operations of the businesses that we acquire beginning from the respective dates of acquisition. We allocate the fair value of the purchase price of our acquisitions to the tangible and intangible assets acquired, and liabilities assumed, based on their estimated fair values. The excess of the fair value of purchase price over the fair values of these identifiable assets and liabilities is recorded as goodwill. We amortize our acquired intangible assets in business combinations and asset acquisitions on a straight-line basis with definite lives over a period of three years. The liabilities for any contingent consideration are established at the time of the acquisition and will be evaluated at each reporting date. Any change in the fair value adjustment is recorded in general and administrative expenses. |
Property and Equipment, net | Property and Equipment, Net Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the respective assets. The Company depreciates leasehold improvements over the shorter of the remaining lease term or estimated us eful life of five years, a |
Leases | Leases The Company determines whether an arrangement is or contains a lease at inception, based on whether there is an identified asset and whether the Company controls the use of the identified asset throughout the period of use. At the lease commencement date, the Company determines the lease classification between finance and operating and recognizes a right-of-use asset and corresponding lease liability for each lease component. A right-of-use asset represents the Company’s right to use an underlying asset and a lease liability represents the Company’s obligation to make payments during the lease term. The Company only has operating leases of office premises leased by JiHu. The Company accounts for lease components and non-lease components separately. We do not recognize operating lease right-of-use assets and operating lease liabilities that arise from short-term leases (i.e., leases with a term of 12 months or less). The lease liability is initially measured as the present value of the remaining lease payments over the lease term. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The discount rate used to determine the present value is the Company’s incremental borrowing rate unless the interest rate implicit in the lease is readily determinable. The Company estimates its incremental borrowing rate based on the information available at lease commencement date for borrowings with a similar term. The right-of-use asset is initially measured as the present value of the lease payments adjusted for prepaid lease payments to lessors . |
Impairment of Long-Lived Assets | Impairment of Long-lived Assets We evaluate long-lived assets (including intangible assets) for impairment whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset (including an intangible asset) may not be recoverable. An asset is considered impaired if its carrying amount exceeds the future undiscounted cash flow the asset is expected to generate. We measure recoverability of these assets by comparing the carrying amounts to the future undiscounted cash flows the assets are expected to generate. If a long-lived asset (including an intangible asset) is considered to be impaired, the impairment to be recognized equals the amount by which the carrying value of the asset exceeds its fair market value. We have made no material adjustments to our long-lived assets (including intangible assets) in any of the years presented. We test our goodwill for impairment at least annually in the fourth fiscal quarter of each year, or more frequently if events or changes in circumstances indicate that this asset may be impaired. Based on an analysis of qualitative and quantitative factors, including our market capitalization, we determined no goodwill impairment in any of the periods presented. |
Equity Method Investment | Equity Method Investment The Company applies the equity method of accounting to investments when it has significant influence, but not controlling interest in the investee. The Company’s equity method investments are reported at cost and adjusted each period for its proportionate share of the investee’s income or loss. The cost on initial recognition of retained interest in an erstwhile subsidiary is based on fair value on the date of loss of control. The Company’s proportionate share of the net loss resulting from the investment is reported under loss from equity method investment, net of tax in our consolidated statements of operations. The carrying value of the Company’s equity method investments is reported in equity method investment in the consolidated balance sheets. The Company assesses investments for impairment whenever events or changes in circumstances indicate that the carrying value of an investment may not be recoverable. |
Recently Adopted Accounting Standards and Recent Accounting Pronouncements | Recently Adopted Accounting Standards In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes ( Topic 740 ): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes by eliminating some exceptions to the general approach in ASC 740, Income Taxes in order to reduce cost and complexity of its application. The Company adopted ASU 2019-12 as of February 1, 2022 with no material impact. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“Topic 842”). Topic 842 supersedes the lease requirements in ASC Topic 840, Leases . Under Topic 842, lessees are required to recognize assets and liabilities on the consolidated balance sheet for most leases and provide enhanced disclosures. The Company has adopted the Topic 842 effective February 1, 2022 by utilizing the modified retrospective transition method through a cumulative-effect adjustment to the operating lease right-of-use assets and operating lease liabilities on our consolidated balance sheet as on February 1, 2022 in the amount of $0.7 million and $0.8 million, respectively. The adoption of Topic 842 did not have an impact on accumulated deficit as of February 1, 2022. Refer to “Note 11. Joint Venture and Equity Method Investment” for more information. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. These expected credit losses for financial assets held at the reporting date are to be based on historical experience, current conditions, and reasonable and supportable forecasts. This ASU requires enhanced disclosures relating to significant estimates and judgments used in estimating credit losses, as well as the credit quality. As an erstwhile emerging growth company (EGC), the Company had previously elected to adopt ASU 2016-13 for its fiscal year beginning February 1, 2023. However, due to the loss of EGC status as on January 31, 2023, the Company has adopted ASU 2016-13 for fiscal year 2023. The adoption of this ASU did not have a material impact on the consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted There are no recently issued accounting pronouncements that we believe will have a material impact on our financial position, results of operations or cash flows. |
Basis of Presentation and Sum_3
Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Accounting Policies [Abstract] | |
Schedule of Contract Acquisition Costs | The following table presents the change in deferred contract acquisition costs (in thousands): January 31, 2023 2022 2021 Beginning balance $ 39,106 $ 30,476 $ 14,375 Added during the year 47,985 41,998 34,570 Amortized during the year (44,958) (33,368) (18,469) Ending balance $ 42,133 $ 39,106 $ 30,476 |
Revenues (Tables)
Revenues (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | The following table shows the components of revenues and their respective percentages of total revenue for the periods indicated (in thousands, except percentages): Fiscal Year Ended January 31, 2023 2022 2021 Subscription—self-managed and SaaS $ 369,349 87 % $ 226,163 90 % $ 132,763 87 % Subscription—self-managed 275,275 65 179,564 72 114,949 75 SaaS 94,074 22 46,599 18 17,814 12 License—self-managed and other $ 54,987 13 % $ 26,490 10 % $ 19,413 13 % License—self-managed 46,046 11 20,171 8 14,525 10 Professional services and other 8,941 2 6,319 2 4,888 3 Total revenue $ 424,336 100 % $ 252,653 100 % $ 152,176 100 % |
Revenue by Geographic Location | The following table summarizes the Company’s total revenue by geographic location based on the region of the Company’s contracting entity, which may be different than the region of the customer (in thousands): Fiscal Year Ended January 31, 2023 2022 2021 United States $ 352,975 $ 211,520 $ 125,990 Europe 61,820 36,478 22,348 Asia Pacific 9,541 4,655 3,838 Total revenue $ 424,336 $ 252,653 $ 152,176 |
Cash, Cash Equivalents and Sh_2
Cash, Cash Equivalents and Short-Term Investments (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Cash and Cash Equivalents [Abstract] | |
Schedule of Short Term Investments | The following table summarizes the Company’s cash, cash equivalents and short-term investments by category (in thousands): As of January 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Cash and cash equivalents: Cash $ 232,332 $ — $ — $ 232,332 Money market funds 60,073 — — 60,073 U.S. Agency securities 2,997 — — 2,997 Total cash and cash equivalents $ 295,402 $ — $ — $ 295,402 Short-term investments: Commercial paper 88,703 18 (112) 88,609 Corporate debt securities 95,805 33 (572) 95,266 Municipal bonds 1,989 — (19) 1,970 Foreign government bonds 2,211 — (41) 2,170 U.S. Agency securities 74,158 2 (435) 73,725 U.S. Treasury securities 383,238 — (3,729) 379,509 Total short-term investments $ 646,104 $ 53 $ (4,908) $ 641,249 |
Schedule of Unrealized Losses Cash Equivalents and Short Term Investment | The following table summarizes unrealized losses on our cash equivalents and short-term investments by category that have been in a continuous unrealized loss position for less than 12 months as of the periods presented (in thousands): Carrying Value Gross Unrealized Losses January 31, 2023 U.S. Agency securities $ 73,724 $ (435) Commercial paper 45,015 (112) Corporate debt securities 75,203 (572) Municipal bonds 1,970 (19) Foreign government bonds 2,170 (41) U.S. Treasury securities 379,509 (3,729) Total cash equivalents and short-term investments $ 577,591 $ (4,908) |
Schedule of Short Term Investments by Contractual Maturity | The following table classifies the Company’s short-term investments by contractual maturities (in thousands): January 31, 2023 January 31, 2022 Amortized cost Fair Value Amortized cost Fair Value Due within 1 year $ 480,943 $ 477,520 $ 50,031 $ 50,031 Due between 1 year to 2 years 165,161 163,729 — — Total $ 646,104 $ 641,249 $ 50,031 $ 50,031 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Schedule of Financial Assets Measured at Fair Value on Recurring Basis | Financial assets measured at fair value on a recurring basis are summarized below (in thousands): Level 1 Level 2 Level 3 Fair Value January 31, 2023 (1) Cash equivalents: Money market funds $ 60,073 $ — $ — $ 60,073 U.S. Agency securities — 2,997 — 2,997 Short-term investments: Commercial paper — 88,609 — 88,609 Corporate debt securities — 95,266 — 95,266 Municipal bonds — 1,970 — 1,970 Foreign government bonds — 2,170 — 2,170 U.S. Agency securities — 73,725 — 73,725 U.S. Treasury securities — 379,509 — 379,509 Total $ 60,073 $ 644,246 $ — $ 704,319 (1) Exclu des |
Supplemental Financial Statem_2
Supplemental Financial Statement Information (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Other Current Assets | Prepaid expenses and other current assets consisted of the following (in thousands): January 31, 2023 January 31, 2022 Prepaid software subscriptions $ 7,771 $ 3,950 Prepaid insurance 3,199 4,309 Prepaid expenses for the Company’s events 1,885 266 Prepaid taxes 592 3,168 Prepaid advertising costs 367 722 Other prepaid expenses 1,915 1,834 Restricted cash (1) 2,500 — Interest receivable 2,310 49 Revenue contract asset 1,532 — Security and other deposits 510 981 Other current assets 1,746 265 Total prepaid expense and other current assets $ 24,327 $ 15,544 (1) Refer to “Note 7. Business Combination”. |
Property, Plant and Equipment | Property and equipment, net of the following (in thousands): January 31, 2023 January 31, 2022 Computer and office equipment $ 8,581 $ 3,049 Leasehold improvements 1,208 765 9,789 3,814 Less: Accumulated depreciation (1) (3,992) (543) Total property and equipment, net (1) $ 5,797 $ 3,271 (1) The amounts in the table above include cumulative foreign currency translation adjustments, reflecting movement in the currencies of the underlying property and equipment. |
Schedule of Other Assets, Noncurrent | Other long-term assets consisted of the following (in thousands): January 31, 2023 January 31, 2022 Security and other deposits $ 3,172 $ 2,832 Restricted cash (1) — 2,500 Deferred software implementation costs 594 969 Other long-term assets 321 850 Total other long-term assets $ 4,087 $ 7,151 (1) Refer to “Note 7. Business Combination”. |
Schedule of Accrued Liabilities | Accrued expenses and other current liabilities consisted of the following (in thousands): January 31, 2023 January 31, 2022 Accrued expenses $ 10,686 $ 8,605 Indirect taxes payable 4,498 4,044 Customer refunds 3,465 2,017 ESPP employee contributions 2,967 6,557 Acquisition related consideration withheld in escrow (1) 2,500 — Income taxes payable 859 319 Operating lease liabilities - current portion 716 — Acquisition related contingent cash consideration (1) — 3,029 Other current liabilities 263 — Total accrued expenses and other current liabilities $ 25,954 $ 24,571 (1) Refer to “Note 7. Business Combination”. |
Schedule of Accounts Payable and Accrued Liabilities | Accrued compensation and benefits consisted of the following (in thousands): January 31, 2023 January 31, 2022 Accrued commissions $ 8,512 $ 8,417 Payroll taxes payable 3,013 14,506 Other accrued team member related payables 9,251 9,897 Total accrued compensation and benefits $ 20,776 $ 32,820 |
Other Noncurrent Liabilities | Other long-term liabilities consisted of the following (in thousands): January 31, 2023 January 31, 2022 Acquisition related contingent cash consideration (1) $ 3,443 $ 4,929 Provision towards labor matters (2) 2,504 2,573 Early exercised options liability 1,800 6,837 Deferred tax liabilities 849 379 Long term taxes payable 647 784 Operating lease liabilities - long-term portion 413 — Acquisition related consideration withheld in escrow (1) — 2,500 Other long-term liabilities 168 — Total other long-term liabilities $ 9,824 $ 18,002 (1) Refer to “Note 7. Business Combination”. (2) Refer to “Note 14. Commitments and Contingencies ”. |
Other Income (Expense), Net | Other income (expense), net consisted of the following (in thousands): Fiscal Year Ended January 31, 2023 2022 2021 Gain from deconsolidation of Meltano Inc. (1) $ 17,798 $ — $ — Foreign exchange gains (losses), net 4,364 (29,140) 23,423 Other expense, net (577) (1,710) 29 Total other income (expense), net $ 21,585 $ (30,850) $ 23,452 (1) Refer to “Note 11. Joint Venture and Equity Method Investment”. |
Business Combination (Tables)
Business Combination (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Business Combination and Asset Acquisition [Abstract] | |
Schedule of Business Acquisitions, by Acquisition | The transaction was accounted for as a business combination. The acquisition date fair value of the consideration transferred consisted of the following (in thousands): Cash consideration $ 2,970 Fair value of common stock issued on closing 959 Contingent common stock consideration (classified under additional paid-in capital) 1,754 Contingent cash consideration 3,007 Contingent cash consideration (classified under other long-term liabilities) 4,893 Total consideration $ 13,583 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets, Net (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | The carrying amount of goodwill was as follows (in thousands): Carrying Amount Balance as of January 31, 2023 and January 31, 2022 $ 8,145 |
Schedule of Finite-Lived Intangible Assets | Intangible assets, net consisted of the following (in thousands): January 31, 2023 Gross Carrying Amount Accumulated Amortization Net Book Value Weighted average remaining amortization period (years) Developed technology from business combination $ 6,200 $ (2,401) $ 3,799 1.8 Developed technology from asset acquisitions (1) 1,359 (1,257) 102 0.3 Total $ 7,559 $ (3,658) $ 3,901 January 31, 2022 Gross Carrying Amount Accumulated Amortization Net Book Value Weighted average remaining amortization period (years) Developed technology from business combination $ 6,200 $ (334) $ 5,866 2.8 Developed technology from asset acquisitions (1) 1,402 (983) 419 1.3 Total $ 7,602 $ (1,317) $ 6,285 (1) The amounts in the tables above include cumulative foreign currency translation adjustments, reflecting movement in the currencies of the underlying intangibles. |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | As of January 31, 2023, future a mortization expense related to the intangibles assets is expected to be as follows (in thousands): Fiscal Years 2024 $ 2,166 2025 1,735 Total future amortization $ 3,901 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Equity [Abstract] | |
Schedule of Stock Reserved For Future Issuance | The Company had shares of common stock reserved for future issuance as follows (in thousands): January 31, 2023 January 31, 2022 Class A and Class B common stock Options issued and outstanding 12,686 17,146 Shares available for issuance under Equity Incentive Plans 21,483 18,248 RSUs and PSUs issued and outstanding 8,336 3,280 Shares reserved for issuance to charitable organizations 1,636 1,636 2021 ESPP 4,303 3,271 Total 48,444 43,581 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | The awards available for grant under the above Plans for the pe riods presented were as follows (in thousands): January 31, 2023 January 31, 2022 Available at beginning of period 18,248 4,796 Awards authorized 7,673 22,532 Options granted — (7,936) RSUs and PSUs granted (6,651) (3,290) RSUs and PSUs canceled and forfeited 657 10 Options canceled and forfeited 1,496 2,044 Options repurchased 60 92 Available at end of period 21,483 18,248 |
Share-based Payment Arrangement, Option, Activity | The following table summarizes options activity under the Plans, and related information: Number of Stock Options Outstanding (in thousands) Weighted Average Exercise Price Weighted Average Remaining Years Aggregate Intrinsic value (in millions) Balances at January 31, 2020 16,253 $ 4.56 9.03 $ 70.6 Options granted 4,622 11.27 9.11 Options exercised (2,862) 4.87 5.56 Options canceled (79) 3.79 — Options forfeited (1,891) 5.50 — Balances at January 31, 2021 16,043 $ 6.33 8.39 $ 166.6 Options granted 7,936 18.68 8.50 Options exercised (4,789) 5.40 5.07 Options canceled (81) 6.20 — Options forfeited (1,963) 10.47 — Balances at January 31, 2022 17,146 $ 11.83 8.24 $ 894.8 Options granted — — Options exercised (2,964) 8.49 Options canceled (33) 9.46 Options forfeited (1,463) 14.52 Balances at January 31, 2023 12,686 $ 12.30 7.00 $ 470.8 Options vested at January 31, 2023 7,027 $ 9.43 6.42 $ 281.0 Options vested and expected to vest at January 31, 2023 12,686 $ 12.30 7.00 $ 470.8 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair value of each stock option grant was estimated on the date of grant, using a Black-Scholes option-pricing model, with the following weighted-average assumptions: Fiscal Year Ended January 31, 2022 2021 Risk-free interest rate 1.10 % 0.50 % Weighted-average volatility 43.50 % 31.90 % Weighted-average expected term (in years) 6.10 6.02 Dividend yield — % — % Fiscal Year Ended January 31, Fiscal Year Ended January 31, 2023 2022 Risk-free interest rate 1.62% - 4.55% 0.07% - 0.17% Volatility 44.95% - 55.19% 38.47% -41.75% Expected term (in years) 0.50 - 2.00 0.57 -1.07 Dividend yield —% —% |
Schedule of Restricted Stock Units Activity | The following table summarizes the Company’s RSU activity (in thousands): Number of Shares (1) Weighted- Balances at January 31, 2021 — $ — Granted 272 82.11 Vested — — Canceled/forfeited — — Balances at January 31, 2022 272 $ 82.11 Granted 6,286 52.52 Vested (930) 55.01 Canceled/forfeited (610) 54.56 Balances at January 31, 2023 5,018 $ 53.33 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount | The Company recognized stock-based compensation expense as follows (in thousands): Fiscal Year Ended January 31, 2023 2022 2021 Cost of revenue $ 5,078 $ 1,300 $ 1,185 Research and development 36,325 8,305 31,519 Sales and marketing 48,001 10,550 21,504 General and administrative 33,163 9,854 57,638 Total stock-based compensation expense (1) (2) $ 122,567 $ 30,009 $ 111,846 (1) The table above includes stock-based compensation of JiHu. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. (2) The table above includes stock-based compensation related to the tender offers. The Company recognized $0.3 million and $103.3 million of incremental stock-based compensation expense related to the tender offers for fiscal 2022 and 2021 , respectively . |
Joint Venture and Equity Meth_2
Joint Venture and Equity Method Investment (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Noncontrolling Interest [Abstract] | |
Schedule of Supplemental Information Related to Operating Leases | The table below presents supplemental information related to operating leases for the year ended January 31, 2023 (in thousands, except weighted-average information): Weighted-average remaining lease term (in years) 1.30 Weighted-average discount rate 3.70 % Right-of-use assets obtained in exchange for new operating lease liabilities $ 515 Cash paid for amounts included in the measurement of lease liabilities $ 797 |
Schedule of Variable Interest Entities | Selected financial information of JiHu, post intercompany eliminations, is as follows (in thousands): Fiscal Year Ended January 31, 2023 2022 Revenue $ 4,743 $ 1,237 Cost of revenue 1,731 945 Gross profit (loss) 3,012 292 Operating expenses: Sales and marketing 7,670 3,200 Research and development 6,818 2,299 General and administrative 10,515 3,589 Total operating expenses 25,003 9,088 Loss from operations (21,991) (8,796) Interest income 659 — Other income, net 1,633 67 Net loss before income taxes (19,699) (8,729) Net loss $ (19,699) $ (8,729) Net loss attributable to noncontrolling interest $ (8,385) $ (2,422) January 31, 2023 January 31, 2022 Cash and cash equivalents $ 56,744 $ 14,198 Property and equipment, net 1,135 769 Operating lease right-of-use assets 998 — Other assets 3,950 2,765 Total assets $ 62,827 $ 17,732 Total liabilities $ 8,871 $ 3,663 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income before Income Tax, Domestic and Foreign | The components of total income (loss) from continuing operations before income taxes are as follows (in thousands): Fiscal Year Ended January 31, 2023 2022 2021 US $ (4,877) $ 19,486 $ (48,866) Foreign (170,453) (178,557) (140,496) Loss before income taxes $ (175,330) $ (159,071) $ (189,362) |
Schedule of Components of Income Tax Expense (Benefit) | The provision for (benefit from) income taxes consisted of the following (in thousands): Fiscal Year Ended January 31, 2023 2022 2021 Current: Federal and State $ 1,432 $ (863) $ 2,517 Foreign 822 671 315 Total current $ 2,254 $ (192) $ 2,832 Deferred: Federal and State $ 614 $ (1,443) $ — Foreign 30 124 — Total deferred $ 644 $ (1,319) $ — Provision for (benefit from) income taxes $ 2,898 $ (1,511) $ 2,832 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the statutory U.S. federal income tax rate to the Company's effective tax rate is as follows: Fiscal Year Ended January 31, 2023 2022 2021 Tax at federal statutory rate 21.0 % 21.0 % 21.0 % State, net of federal benefit (0.2) 0.2 (0.2) Stock-based compensation (0.4) 5.0 (7.3) Non-deductible Executive Compensation (1.6) (0.5) — Research tax credit 2.7 1.0 0.2 Foreign rate differential 5.5 6.1 2.8 Change in valuation allowance (29.0) (30.3) (18.6) Foreign derived intangible income deduction 0.6 0.3 0.2 Unrecognized tax benefits (0.5) (1.3) — Other 0.2 (0.6) 0.4 Total (1.7) % 0.9 % (1.5) % |
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Company's deferred tax assets and liabilities are as follows (in thousands): January 31, 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 144,016 $ 99,291 Research tax credits 2,359 1,211 Deferred revenue 5,876 3,811 Accruals and other assets 3,590 2,714 Intangibles 8,278 14,751 Stock-based compensation 5,040 1,587 Gross deferred tax assets 169,159 123,365 Valuation allowance (159,470) (115,839) Net deferred tax assets 9,689 7,526 Deferred tax liabilities: Deferred contract acquisition costs (6,095) (6,516) Acquired intangibles (863) (1,389) Equity Method Investment (2,892) — Fixed Assets (499) — Other (189) — Net deferred tax liabilities $ (849) $ (379) |
Schedule of Unrecognized Tax Benefits Roll Forward | The reconciliation of the Company's unrecognized tax benefits is as follows (in thousands): January 31, 2023 2022 Beginning balance $ 5,557 $ — Gross increases and decreases due to tax positions taken in prior periods 685 4,076 Gross increases and decreases due to tax position taken in current period 1,369 1,481 Gross increases and decreases due to settlements with taxing authorities — — Gross increases and decreases due to lapses in applicable statutes of limitations (151) — Ending balance $ 7,460 $ 5,557 |
Net Loss per Share (Tables)
Net Loss per Share (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following table sets forth basic and diluted loss per share for each of the periods presented (in thousands, except per share data): Fiscal Year Ended January 31, 2023 2022 2021 Numerator: Net loss attributable to GitLab $ (172,311) $ (155,138) $ (192,194) Denominator: Weighted-average shares used to compute net loss per share attributable to GitLab Class A and Class B common stockholders, basic and diluted 148,407 79,755 50,343 Net loss per share attributable to GitLab Class A and Class B common stockholders, basic and diluted $ (1.16) $ (1.95) $ (3.82) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows (in thousands): As of January 31, 2023 January 31, 2022 January 31, 2021 Shares subject to outstanding common stock options 12,686 17,146 16,043 Unvested restricted stock in connection with business combination 8 16 — Unvested early exercised stock options 194 714 1,510 Unvested RSUs and PSUs 8,336 3,264 — Shares subject to the 2021 ESPP 81 256 — Convertible preferred stock (on an if-converted basis) — — 79,551 Warrants — — 73 Total 21,305 21,396 97,177 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contractual Obligation, Fiscal Year Maturity | Future minimum payments under the Company’s non-cancelable purchase commitments as of January 31, 2023 were as follows (in thousands): Total Less than 1 Year 1-3 Years Purchase commitments (1) $ 216,948 $ 112,911 $ 104,037 (1) The table above includes $126 million of remaining non-cancelable contractual commitments as of January 31, 2023 related to one of the Company’s hosting infrastructure vendors, under which the Company committed to spend an aggregate of at least $171 million between October 2020 and September 2025. |
Basis of Presentation and Sum_4
Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) $ / shares in Units, shares in Millions | 1 Months Ended | 12 Months Ended | |||||
Jun. 30, 2022 shares | May 31, 2021 target $ / shares shares | Jan. 31, 2023 USD ($) reporting_unit segment obligation | Jan. 31, 2022 USD ($) | Jan. 31, 2021 USD ($) | Feb. 01, 2022 USD ($) | ||
Significant Accounting Policies [Line Items] | |||||||
Foreign exchange gains (losses), net | $ 4,364,000 | $ (29,140,000) | $ 23,423,000 | ||||
Foreign currency translation adjustments | (5,874,000) | 27,639,000 | (24,005,000) | ||||
Restricted cash | 2,500,000 | 2,500,000 | |||||
Allowance for doubtful accounts | $ 1,564,000 | 1,098,000 | |||||
Number of performance obligations | obligation | 2 | ||||||
Deferred revenue recognized | $ 145,900,000 | 87,100,000 | 58,100,000 | ||||
Remaining performance obligation | $ 435,900,000 | 312,400,000 | |||||
Deferred contract acquisition cost, term | 3 years | ||||||
Advertising costs | $ 27,300,000 | 21,400,000 | 14,100,000 | ||||
Award vesting period (in years) | 4 years | ||||||
Number of operating segments | segment | 1 | ||||||
Number of reporting units | reporting_unit | 1 | ||||||
Intangible assets acquired, useful life | 3 years | ||||||
Goodwill impairment | $ 0 | $ 0 | $ 0 | ||||
Operating lease right-of-use assets | [1] | 998,000 | |||||
Operating lease liabilities | $ 1,100,000 | ||||||
Cumulative Effect, Period of Adoption, Adjustment | |||||||
Significant Accounting Policies [Line Items] | |||||||
Operating lease right-of-use assets | $ 700,000 | ||||||
Operating lease liabilities | $ 800,000 | ||||||
Internal-use software | |||||||
Significant Accounting Policies [Line Items] | |||||||
Property and equipment, useful life | 5 years | ||||||
Computers | |||||||
Significant Accounting Policies [Line Items] | |||||||
Property and equipment, useful life | 2 years | ||||||
PSUs | |||||||
Significant Accounting Policies [Line Items] | |||||||
RSUs granted in period (in shares) | shares | 0.4 | ||||||
Chief Executive Officer | RSUs | |||||||
Significant Accounting Policies [Line Items] | |||||||
RSUs granted in period (in shares) | shares | 3 | ||||||
Number of threshold stock price targets | target | 8 | ||||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-02-01 | |||||||
Significant Accounting Policies [Line Items] | |||||||
Remaining performance obligation, next twelve months (as a percent) | 71% | ||||||
Remaining performance obligation, next twenty four months (as a percent) | 92% | ||||||
Minimum | |||||||
Significant Accounting Policies [Line Items] | |||||||
Allocation of price (as a percent) | 1% | ||||||
Minimum | Chief Executive Officer | RSUs | |||||||
Significant Accounting Policies [Line Items] | |||||||
Threshold stock price target (in dollars per share) | $ / shares | $ 95 | ||||||
Maximum | |||||||
Significant Accounting Policies [Line Items] | |||||||
Allocation of price (as a percent) | 23% | ||||||
Maximum | Chief Executive Officer | RSUs | |||||||
Significant Accounting Policies [Line Items] | |||||||
Threshold stock price target (in dollars per share) | $ / shares | $ 500 | ||||||
Distribution Channel One | Accounts Receivable | Credit Concentration Risk | |||||||
Significant Accounting Policies [Line Items] | |||||||
Concentration risk, percentage | 12% | ||||||
Distribution Channel Two | Accounts Receivable | Credit Concentration Risk | |||||||
Significant Accounting Policies [Line Items] | |||||||
Concentration risk, percentage | 14% | ||||||
[1](1) As of January 31, 2023 and January 31, 2022, the consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $62.8 million and $17.7 million, respectively, and liabilities of $8.9 million and $3.7 million, respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the general credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Basis of Presentation and Sum_5
Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Contract Acquisition Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Movement in Capitalized Contract Costs [Roll Forward] | |||
Beginning balance | $ 39,106 | $ 30,476 | $ 14,375 |
Added during the year | 47,985 | 41,998 | 34,570 |
Amortized during the year | (44,958) | (33,368) | (18,469) |
Ending balance | $ 42,133 | $ 39,106 | $ 30,476 |
Revenues - Disaggregation of Re
Revenues - Disaggregation of Revenue by Product and Service (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 424,336 | $ 252,653 | $ 152,176 |
Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | |||
Disaggregation of Revenue [Line Items] | |||
Concentration risk, percentage | 100% | 100% | 100% |
Subscription—self-managed and SaaS | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 369,349 | $ 226,163 | $ 132,763 |
Subscription—self-managed and SaaS | Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | |||
Disaggregation of Revenue [Line Items] | |||
Concentration risk, percentage | 87% | 90% | 87% |
Subscription—self-managed | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 275,275 | $ 179,564 | $ 114,949 |
Subscription—self-managed | Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | |||
Disaggregation of Revenue [Line Items] | |||
Concentration risk, percentage | 65% | 72% | 75% |
SaaS | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 94,074 | $ 46,599 | $ 17,814 |
SaaS | Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | |||
Disaggregation of Revenue [Line Items] | |||
Concentration risk, percentage | 22% | 18% | 12% |
License—self-managed and other | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 54,987 | $ 26,490 | $ 19,413 |
License—self-managed and other | Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | |||
Disaggregation of Revenue [Line Items] | |||
Concentration risk, percentage | 13% | 10% | 13% |
License—self-managed | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 46,046 | $ 20,171 | $ 14,525 |
License—self-managed | Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | |||
Disaggregation of Revenue [Line Items] | |||
Concentration risk, percentage | 11% | 8% | 10% |
Professional services and other | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 8,941 | $ 6,319 | $ 4,888 |
Professional services and other | Revenue from Contract with Customer, Product and Service Benchmark | Product Concentration Risk | |||
Disaggregation of Revenue [Line Items] | |||
Concentration risk, percentage | 2% | 2% | 3% |
Revenues - Disaggregation of _2
Revenues - Disaggregation of Revenue by Geographic Region (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 424,336 | $ 252,653 | $ 152,176 |
United States | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | 352,975 | 211,520 | 125,990 |
Europe | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | 61,820 | 36,478 | 22,348 |
Asia Pacific | |||
Disaggregation of Revenue [Line Items] | |||
Total revenue | $ 9,541 | $ 4,655 | $ 3,838 |
Revenues - Narrative (Details)
Revenues - Narrative (Details) | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
United States | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk | |||
Disaggregation of Revenue [Line Items] | |||
Concentration risk, percentage | 83% | 84% | 83% |
Cash, Cash Equivalents and Sh_3
Cash, Cash Equivalents and Short-Term Investments - Schedule of Cash and Short Term Investments (Details) $ in Thousands | Jan. 31, 2023 USD ($) |
Debt Securities, Available-for-sale [Line Items] | |
Amortized Cost | $ 646,104 |
Gross Unrealized Gains | 53 |
Gross Unrealized Losses | (4,908) |
Fair Value | 641,249 |
Cash and Cash Equivalents | |
Debt Securities, Available-for-sale [Line Items] | |
Amortized Cost | 295,402 |
Gross Unrealized Gains | 0 |
Gross Unrealized Losses | 0 |
Fair Value | 295,402 |
Cash | Cash and Cash Equivalents | |
Debt Securities, Available-for-sale [Line Items] | |
Amortized Cost | 232,332 |
Gross Unrealized Gains | 0 |
Gross Unrealized Losses | 0 |
Fair Value | 232,332 |
Money market funds | Cash and Cash Equivalents | |
Debt Securities, Available-for-sale [Line Items] | |
Amortized Cost | 60,073 |
Gross Unrealized Gains | 0 |
Gross Unrealized Losses | 0 |
Fair Value | 60,073 |
U.S. Agency securities | |
Debt Securities, Available-for-sale [Line Items] | |
Amortized Cost | 74,158 |
Gross Unrealized Gains | 2 |
Gross Unrealized Losses | (435) |
Fair Value | 73,725 |
U.S. Agency securities | Cash and Cash Equivalents | |
Debt Securities, Available-for-sale [Line Items] | |
Amortized Cost | 2,997 |
Gross Unrealized Gains | 0 |
Gross Unrealized Losses | 0 |
Fair Value | 2,997 |
Commercial paper | |
Debt Securities, Available-for-sale [Line Items] | |
Amortized Cost | 88,703 |
Gross Unrealized Gains | 18 |
Gross Unrealized Losses | (112) |
Fair Value | 88,609 |
Corporate debt securities | |
Debt Securities, Available-for-sale [Line Items] | |
Amortized Cost | 95,805 |
Gross Unrealized Gains | 33 |
Gross Unrealized Losses | (572) |
Fair Value | 95,266 |
Municipal bonds | |
Debt Securities, Available-for-sale [Line Items] | |
Amortized Cost | 1,989 |
Gross Unrealized Gains | 0 |
Gross Unrealized Losses | (19) |
Fair Value | 1,970 |
Foreign government bonds | |
Debt Securities, Available-for-sale [Line Items] | |
Amortized Cost | 2,211 |
Gross Unrealized Gains | 0 |
Gross Unrealized Losses | (41) |
Fair Value | 2,170 |
U.S. Treasury securities | |
Debt Securities, Available-for-sale [Line Items] | |
Amortized Cost | 383,238 |
Gross Unrealized Gains | 0 |
Gross Unrealized Losses | (3,729) |
Fair Value | $ 379,509 |
Cash, Cash Equivalents and Sh_4
Cash, Cash Equivalents and Short-Term Investments - Narrative (Details) - USD ($) | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Cash and Cash Equivalents [Line Items] | |||
Cash | $ 884,700,000 | ||
Interest and investment income | $ 14,500,000 | 700,000 | $ 1,100,000 |
Net amortization of premiums or discounts on short-term investments | $ 6,077,000 | 0 | $ 0 |
Certificates of Deposit | |||
Cash and Cash Equivalents [Line Items] | |||
Short-term investments | $ 50,000,000 |
Cash, Cash Equivalents and Sh_5
Cash, Cash Equivalents and Short-Term Investments - Schedule of Unrealized Losses Cash Equivalents and Short Term Investment (Details) $ in Thousands | Jan. 31, 2023 USD ($) |
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | |
Carrying Value | $ 577,591 |
Gross Unrealized Losses | (4,908) |
Municipal bonds | |
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | |
Carrying Value | 1,970 |
Gross Unrealized Losses | (19) |
Foreign government bonds | |
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | |
Carrying Value | 2,170 |
Gross Unrealized Losses | (41) |
Commercial paper | |
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | |
Carrying Value | 45,015 |
Gross Unrealized Losses | (112) |
U.S. Agency securities | |
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | |
Carrying Value | 73,724 |
Gross Unrealized Losses | (435) |
Corporate debt securities | |
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | |
Carrying Value | 75,203 |
Gross Unrealized Losses | (572) |
U.S. Treasury securities | |
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items] | |
Carrying Value | 379,509 |
Gross Unrealized Losses | $ (3,729) |
Cash, Cash Equivalents and Sh_6
Cash, Cash Equivalents and Short-Term Investments - Schedule of Short Term Investments by Contractual Maturity (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 |
Amortized cost | ||
Due within 1 year | $ 480,943 | $ 50,031 |
Due between 1 year to 2 years | 165,161 | 0 |
Total | 646,104 | 50,031 |
Fair Value | ||
Due within 1 year | 477,520 | 50,031 |
Due between 1 year to 2 years | 163,729 | 0 |
Total | $ 641,249 | $ 50,031 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) $ in Thousands | Jan. 31, 2023 USD ($) |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | $ 641,249 |
Cash held in bank accounts | 646,104 |
Cash and Cash Equivalents | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 295,402 |
Cash held in bank accounts | 295,402 |
Fair Value, Recurring | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets, fair value disclosure | 704,319 |
Fair Value, Recurring | Level 1 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets, fair value disclosure | 60,073 |
Fair Value, Recurring | Level 2 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets, fair value disclosure | 644,246 |
Fair Value, Recurring | Level 3 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets, fair value disclosure | 0 |
Commercial paper | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 88,609 |
Cash held in bank accounts | 88,703 |
Commercial paper | Fair Value, Recurring | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 88,609 |
Commercial paper | Fair Value, Recurring | Level 1 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 0 |
Commercial paper | Fair Value, Recurring | Level 2 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 88,609 |
Commercial paper | Fair Value, Recurring | Level 3 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 0 |
Corporate debt securities | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 95,266 |
Cash held in bank accounts | 95,805 |
Corporate debt securities | Fair Value, Recurring | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 95,266 |
Corporate debt securities | Fair Value, Recurring | Level 1 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 0 |
Corporate debt securities | Fair Value, Recurring | Level 2 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 95,266 |
Corporate debt securities | Fair Value, Recurring | Level 3 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 0 |
Municipal bonds | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 1,970 |
Cash held in bank accounts | 1,989 |
Municipal bonds | Fair Value, Recurring | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 1,970 |
Municipal bonds | Fair Value, Recurring | Level 1 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 0 |
Municipal bonds | Fair Value, Recurring | Level 2 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 1,970 |
Municipal bonds | Fair Value, Recurring | Level 3 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 0 |
Foreign government bonds | Fair Value, Recurring | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 2,170 |
Foreign government bonds | Fair Value, Recurring | Level 1 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 0 |
Foreign government bonds | Fair Value, Recurring | Level 2 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 2,170 |
Foreign government bonds | Fair Value, Recurring | Level 3 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 0 |
U.S. Agency securities | Fair Value, Recurring | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 73,725 |
U.S. Agency securities | Fair Value, Recurring | Level 1 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 0 |
U.S. Agency securities | Fair Value, Recurring | Level 2 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 73,725 |
U.S. Agency securities | Fair Value, Recurring | Level 3 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 0 |
U.S. Treasury securities | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 379,509 |
Cash held in bank accounts | 383,238 |
U.S. Treasury securities | Fair Value, Recurring | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 379,509 |
U.S. Treasury securities | Fair Value, Recurring | Level 1 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 0 |
U.S. Treasury securities | Fair Value, Recurring | Level 2 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 379,509 |
U.S. Treasury securities | Fair Value, Recurring | Level 3 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 0 |
Cash | Cash and Cash Equivalents | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Short-term investments | 232,332 |
Cash held in bank accounts | 232,332 |
Money market funds | Fair Value, Recurring | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Cash equivalents | 60,073 |
Money market funds | Fair Value, Recurring | Level 1 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Cash equivalents | 60,073 |
Money market funds | Fair Value, Recurring | Level 2 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Cash equivalents | 0 |
Money market funds | Fair Value, Recurring | Level 3 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Cash equivalents | 0 |
U.S. Agency securities | Fair Value, Recurring | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Cash equivalents | 2,997 |
U.S. Agency securities | Fair Value, Recurring | Level 1 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Cash equivalents | 0 |
U.S. Agency securities | Fair Value, Recurring | Level 2 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Cash equivalents | 2,997 |
U.S. Agency securities | Fair Value, Recurring | Level 3 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Cash equivalents | $ 0 |
Fair Value Measurements - Narra
Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions | Jan. 31, 2023 | Jan. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Contingent cash consideration | $ 7.9 | |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Contingent cash consideration | $ 3.4 | $ 7.9 |
Supplemental Financial Statem_3
Supplemental Financial Statement Information - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||
Prepaid software subscriptions | $ 7,771 | $ 3,950 | ||
Prepaid insurance | 3,199 | 4,309 | ||
Prepaid expenses for the Company’s events | 1,885 | 266 | ||
Prepaid taxes | 592 | 3,168 | ||
Prepaid advertising costs | 367 | 722 | ||
Other prepaid expenses | 1,915 | 1,834 | ||
Restricted cash | 2,500 | 0 | $ 0 | |
Interest receivable | 2,310 | 49 | ||
Revenue contract asset | 1,532 | 0 | ||
Security and other deposits | 510 | 981 | ||
Other current assets | 1,746 | 265 | ||
Total prepaid expense and other current assets | [1] | $ 24,327 | $ 15,544 | |
[1](1) As of January 31, 2023 and January 31, 2022, the consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $62.8 million and $17.7 million, respectively, and liabilities of $8.9 million and $3.7 million, respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the general credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Supplemental Financial Statem_4
Supplemental Financial Statement Information - Schedule of Property and Equipment, Net (Details) - USD ($) | 12 Months Ended | |||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | ||
Property, Plant and Equipment [Line Items] | ||||
Property and equipment, gross | $ 9,789,000 | $ 3,814,000 | ||
Less: Accumulated depreciation | (3,992,000) | (543,000) | ||
Property and equipment, net | [1] | 5,797,000 | 3,271,000 | |
Depreciation expense | 3,200,000 | 500,000 | $ 0 | |
Computer and office equipment | ||||
Property, Plant and Equipment [Line Items] | ||||
Property and equipment, gross | 8,581,000 | 3,049,000 | ||
Leasehold improvements | ||||
Property, Plant and Equipment [Line Items] | ||||
Property and equipment, gross | $ 1,208,000 | $ 765,000 | ||
[1](1) As of January 31, 2023 and January 31, 2022, the consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $62.8 million and $17.7 million, respectively, and liabilities of $8.9 million and $3.7 million, respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the general credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Supplemental Financial Statem_5
Supplemental Financial Statement Information - Schedule of Other Long-Term Assets (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||
Security and other deposits | $ 3,172 | $ 2,832 | ||
Restricted cash, included in other long-term assets | 0 | 2,500 | $ 0 | |
Deferred software implementation costs | 594 | 969 | ||
Other long-term assets | 321 | 850 | ||
Total other long-term assets | [1] | $ 4,087 | $ 7,151 | |
[1](1) As of January 31, 2023 and January 31, 2022, the consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $62.8 million and $17.7 million, respectively, and liabilities of $8.9 million and $3.7 million, respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the general credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Supplemental Financial Statem_6
Supplemental Financial Statement Information - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Accrued expenses | $ 10,686 | $ 8,605 | |
Indirect taxes payable | 4,498 | 4,044 | |
Customer refunds | 3,465 | 2,017 | |
ESPP employee contributions | 2,967 | 6,557 | |
Acquisition related consideration withheld in escrow | 2,500 | 0 | |
Income taxes payable | 859 | 319 | |
Operating lease liabilities - current portion | $ 716 | ||
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] | Total accrued expenses and other current liabilities | ||
Acquisition related contingent cash consideration | $ 0 | 3,029 | |
Other current liabilities | 263 | 0 | |
Total accrued expenses and other current liabilities | [1] | $ 25,954 | $ 24,571 |
[1](1) As of January 31, 2023 and January 31, 2022, the consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $62.8 million and $17.7 million, respectively, and liabilities of $8.9 million and $3.7 million, respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the general credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Supplemental Financial Statem_7
Supplemental Financial Statement Information - Schedule of Accrued Compensation and Benefits (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accrued commissions | $ 8,512 | $ 8,417 |
Payroll taxes payable | 3,013 | 14,506 |
Other accrued team member related payables | 9,251 | 9,897 |
Total accrued compensation and benefits | $ 20,776 | $ 32,820 |
Supplemental Financial Statem_8
Supplemental Financial Statement Information - Other Long-Term Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Acquisition related contingent cash consideration | $ 3,443 | $ 4,929 | |
Provision towards labor matters (2) | 2,504 | 2,573 | |
Early exercised options liability | 1,800 | 6,837 | |
Deferred tax liabilities | 849 | 379 | |
Long term taxes payable | 647 | 784 | |
Operating lease liabilities - long-term portion | $ 413 | ||
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] | Total other long-term liabilities | ||
Acquisition related consideration withheld in escrow | $ 0 | 2,500 | |
Other long-term liabilities | 168 | 0 | |
Total other long-term liabilities | [1] | $ 9,824 | $ 18,002 |
[1](1) As of January 31, 2023 and January 31, 2022, the consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $62.8 million and $17.7 million, respectively, and liabilities of $8.9 million and $3.7 million, respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the general credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Supplemental Financial Statem_9
Supplemental Financial Statement Information - Other Income (Expense), Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Gain from deconsolidation of Meltano Inc. | $ 17,798 | $ 0 | $ 0 |
Foreign exchange gains (losses), net | 4,364 | (29,140) | 23,423 |
Other expense, net | (577) | (1,710) | |
Other income | 29 | ||
Total other income (expense), net | $ 21,585 | $ (30,850) | $ 23,452 |
Business Combination - Schedule
Business Combination - Schedule of Total Consideration Transferred (Details) - USD ($) $ in Thousands | Dec. 03, 2021 | Jan. 31, 2023 | Jan. 31, 2022 |
Business Acquisition [Line Items] | |||
Contingent cash consideration | $ 0 | $ 3,029 | |
Opstrace Inc. | |||
Business Acquisition [Line Items] | |||
Cash consideration | $ 2,970 | ||
Fair value of common stock issued on closing | 959 | ||
Contingent common stock consideration (classified under additional paid-in capital) | 1,754 | ||
Contingent cash consideration | 3,007 | ||
Contingent cash consideration (classified under other long-term liabilities) | 4,893 | ||
Total consideration | $ 13,583 |
Business Combination - Narrativ
Business Combination - Narrative (Details) - USD ($) | 1 Months Ended | 12 Months Ended | |||
Dec. 03, 2021 | Sep. 30, 2022 | Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Business Acquisition [Line Items] | |||||
Contingent cash consideration | $ 7,900,000 | ||||
Partial settlement of acquisition related contingent cash consideration | 3,137,000 | $ 0 | $ 0 | ||
General and administrative | 117,932,000 | 63,654,000 | 86,868,000 | ||
Gain from the fair value change of acquisition related contingent consideration | 1,722,000 | 0 | 0 | ||
Accretion expense | 300,000 | $ 0 | $ 0 | ||
Opstrace Inc. | |||||
Business Acquisition [Line Items] | |||||
Cash consideration held back | $ 2,500,000 | ||||
Post-closing indemnification term | 18 months | ||||
Partial settlement of acquisition related contingent cash consideration | $ 4,200,000 | ||||
General and administrative | $ 1,100,000 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets, Net - Rollforward of Goodwill (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 | |
Goodwill [Roll Forward] | |||
Goodwill | [1] | $ 8,145 | $ 8,145 |
[1](1) As of January 31, 2023 and January 31, 2022, the consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $62.8 million and $17.7 million, respectively, and liabilities of $8.9 million and $3.7 million, respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the general credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets, Net - Narrative (Details) - USD ($) | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Goodwill impairment | $ 0 | $ 0 | $ 0 |
Amortization of intangible assets | $ 2,362,000 | $ 665,000 | $ 222,000 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets, Net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 7,559 | $ 7,602 |
Accumulated Amortization | (3,658) | (1,317) |
Net Book Value | 3,901 | 6,285 |
Developed technology from business combination | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 6,200 | 6,200 |
Accumulated Amortization | (2,401) | (334) |
Net Book Value | $ 3,799 | $ 5,866 |
Weighted average remaining amortization period (years) | 1 year 9 months 18 days | 2 years 9 months 18 days |
Developed technology from asset acquisitions | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 1,359 | $ 1,402 |
Accumulated Amortization | (1,257) | (983) |
Net Book Value | $ 102 | $ 419 |
Weighted average remaining amortization period (years) | 3 months 18 days | 1 year 3 months 18 days |
Goodwill and Intangible Asset_6
Goodwill and Intangible Assets, Net - Schedule of Future Amortization Expense (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2024 | $ 2,166 | |
2025 | 1,735 | |
Total future amortization | $ 3,901 | $ 6,285 |
Team Member Benefit Plans (Deta
Team Member Benefit Plans (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Retirement Benefits [Abstract] | |||
Defined contribution plan, contribution amount | $ 3.9 | $ 2.8 | $ 1.9 |
Equity - Narrative (Details)
Equity - Narrative (Details) | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
Jan. 31, 2023 USD ($) vote $ / shares shares | Jun. 30, 2022 shares | Sep. 30, 2021 date shares | May 31, 2021 USD ($) shares | Jul. 31, 2021 | Jan. 31, 2023 USD ($) vote $ / shares shares | Jan. 31, 2022 USD ($) $ / shares shares | Jan. 31, 2021 USD ($) $ / shares shares | Oct. 18, 2021 $ / shares shares | Oct. 17, 2021 USD ($) shares | Jan. 31, 2020 USD ($) shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Preferred stock, shares authorized (in shares) | shares | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | |||||||
Preferred stock, par value (in USD per share) | $ / shares | $ 0.0000025 | $ 0.0000025 | $ 0.0000025 | $ 0.0000025 | |||||||
Shares subject to repurchase obligation (in shares) | shares | 194,304 | 194,304 | 713,967 | ||||||||
Deferred compensation liability, noncurrent | $ 1,800,000 | $ 1,800,000 | $ 6,800,000 | ||||||||
Convertible preferred stock, shares outstanding (in shares) | shares | 0 | 0 | 0 | 79,551,000 | 79,600,000 | 79,959,000 | |||||
Carrying value of convertible preferred stock | $ 0 | $ 0 | $ 0 | $ 424,904,000 | $ 424,900,000 | $ 425,146,000 | |||||
Convertible preferred stock, shares issued (in shares) | shares | 0 | 0 | 0 | ||||||||
Award vesting period (in years) | 4 years | ||||||||||
Options granted (in shares) | shares | 0 | 7,936,000 | 4,622,000 | ||||||||
Aggregate intrinsic value, options vested | $ 31,000,000 | $ 10,800,000 | $ 8,200,000 | ||||||||
Options granted (in USD per share) | $ / shares | $ 10.81 | $ 3.55 | |||||||||
Intrinsic value of options exercised | 123,400,000 | $ 280,500,000 | $ 33,800,000 | ||||||||
Compensation expense not yet recognized | $ 46,200,000 | 46,200,000 | 80,300,000 | ||||||||
Stock-based compensation | 122,567,000 | 30,009,000 | 111,846,000 | ||||||||
Grant date fair value of RSUs granted | $ 8,800,000 | ||||||||||
Issuance of common stock under employee stock purchase plan | 14,378,000 | ||||||||||
Tax benefit for stock-based compensation expense | $ 7,700,000 | $ 7,000,000 | $ 0 | ||||||||
Class A Common Stock | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Common stock, shares authorized (in shares) | shares | 1,500,000,000 | 1,500,000,000 | 1,500,000,000 | 1,500,000,000 | |||||||
Common stock, par value (in USD per share) | $ / shares | $ 0.0000025 | $ 0.0000025 | $ 0.0000025 | $ 0.0000025 | |||||||
Voting rights, vote per share | vote | 1 | 1 | |||||||||
Class B Common Stock | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Common stock, shares authorized (in shares) | shares | 250,000,000 | 250,000,000 | 250,000,000 | 250,000,000 | |||||||
Common stock, par value (in USD per share) | $ / shares | $ 0.0000025 | $ 0.0000025 | $ 0.0000025 | $ 0.0000025 | |||||||
Voting rights, vote per share | vote | 10 | 10 | |||||||||
2021 Equity Incentive Plan | Class A Common Stock | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Common stock reserved for future issuance (in shares) | shares | 13,032,289 | ||||||||||
2021 ESPP | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Dividend yield (as a percent) | 0% | 0% | |||||||||
2021 ESPP | 2021 Employee Stock Purchase Plan | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Period for recognition (in years) | 1 year 9 months 18 days | ||||||||||
Stock-based compensation | $ 25,700,000 | $ 5,100,000 | |||||||||
Compensation expense not yet recognized | $ 21,100,000 | 21,100,000 | |||||||||
Discount rate (as a percent) | 15% | ||||||||||
Look-back period (in months) | 27 months | ||||||||||
Number of purchase dates | date | 4 | ||||||||||
Issuance of common stock under employee stock purchase plan | 400,000 | ||||||||||
Tax benefit for stock-based compensation expense | 2,800,000 | ||||||||||
Plan modification, cost not yet recognized | 6,200,000 | $ 6,200,000 | |||||||||
Stock options | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Period for recognition (in years) | 2 years 8 months 12 days | 2 years 1 month 6 days | |||||||||
Dividend yield (as a percent) | 0% | 0% | 0% | ||||||||
Stock options | 2015 Equity Incentive Plan | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Expiration period (in years) | 10 years | ||||||||||
Stock options | 2015 Equity Incentive Plan | Period one | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Award vesting percentage | 25% | ||||||||||
Award vesting period (in years) | 1 year | ||||||||||
Stock options | 2015 Equity Incentive Plan | Period two | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Award vesting period (in years) | 36 months | ||||||||||
RSUs | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Compensation expense not yet recognized | 254,800,000 | $ 254,800,000 | $ 21,500,000 | ||||||||
Period for recognition (in years) | 3 years 2 months 12 days | 3 years 10 months 24 days | |||||||||
RSUs | Chief Executive Officer | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
RSUs granted in period (in shares) | shares | 3,000,000 | ||||||||||
Stock-based compensation | $ 1,700,000 | $ 1,200,000 | |||||||||
Compensation expense not yet recognized | 5,900,000 | $ 5,900,000 | |||||||||
RSUs | Chief Executive Officer | Minimum | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Period for recognition (in years) | 2 years | ||||||||||
RSUs | Chief Executive Officer | Maximum | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Period for recognition (in years) | 7 years | ||||||||||
RSUs | Class B Common Stock | Chief Executive Officer | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
RSUs granted in period (in shares) | shares | 3,000,000 | ||||||||||
RSUs | 2021 Equity Incentive Plan | Minimum | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Award vesting period (in years) | 2 years | ||||||||||
RSUs | 2021 Equity Incentive Plan | Maximum | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Award vesting period (in years) | 4 years | ||||||||||
PSUs | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Award vesting percentage | 100% | ||||||||||
Period for recognition (in years) | 2 years 10 months 24 days | ||||||||||
RSUs granted in period (in shares) | shares | 400,000 | ||||||||||
Stock-based compensation | $ 1,600,000 | ||||||||||
Compensation expense not yet recognized | $ 7,400,000 | $ 7,400,000 | |||||||||
PSUs | Minimum | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Award vesting percentage | 0% | ||||||||||
PSUs | Maximum | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||
Award vesting percentage | 200% |
Equity - Schedule of Stock Rese
Equity - Schedule of Stock Reserved For Future Issuance (Details) - shares shares in Thousands | Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 |
Class of Stock [Line Items] | ||||
Options issued and outstanding (in shares) | 12,686 | 17,146 | 16,043 | 16,253 |
Shares available for issuance under Equity Incentive Plans (in shares) | 21,483 | 18,248 | 4,796 | |
Class A and Class B common stock | ||||
Class of Stock [Line Items] | ||||
Options issued and outstanding (in shares) | 12,686 | 17,146 | ||
Shares available for issuance under Equity Incentive Plans (in shares) | 21,483 | 18,248 | ||
Shares reserved for issuance to charitable organizations (in shares) | 1,636 | 1,636 | ||
Common stock reserved for future issuance (in shares) | 48,444 | 43,581 | ||
RSUs and PSUs | Class A and Class B common stock | ||||
Class of Stock [Line Items] | ||||
Share-based compensation awards other than options (in shares) | 8,336 | 3,280 | ||
2021 ESPP | Class A and Class B common stock | ||||
Class of Stock [Line Items] | ||||
Share-based compensation awards other than options (in shares) | 4,303 | 3,271 |
Equity - Awards Available for G
Equity - Awards Available for Grant (Details) - shares | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award, Awards Available For Grant [Roll Forward] | |||
Balance, beginning of period (in shares) | 18,248,000 | 4,796,000 | |
Awards authorized (in shares) | 7,673,000 | 22,532,000 | |
Options granted (in shares) | 0 | (7,936,000) | (4,622,000) |
Options cancelled and forfeited (in shares) | 1,496,000 | 2,044,000 | |
Options repurchased (in shares) | 60,000 | 92,000 | |
Balance, end of period (in shares) | 21,483,000 | 18,248,000 | 4,796,000 |
RSUs and PSUs | |||
Share-based Compensation Arrangement by Share-based Payment Award, Awards Available For Grant [Roll Forward] | |||
RSUs and PSUs granted (in shares) | (6,651,000) | (3,290,000) | |
RSUs and PSUs cancelled and forfeited (in shares) | 657,000 | 10,000 |
Equity - Summary of Stock Optio
Equity - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Number of Stock Options Outstanding (in thousands) | ||||
Balance, beginning of period (in shares) | 17,146,000 | 16,043,000 | 16,253,000 | |
Options granted (in shares) | 0 | 7,936,000 | 4,622,000 | |
Options exercised (in shares) | (2,964,000) | (4,789,000) | (2,862,000) | |
Options cancelled (in shares) | (33,000) | (81,000) | (79,000) | |
Options forfeited (in shares) | (1,463,000) | (1,963,000) | (1,891,000) | |
Balance, end of period (in shares) | 12,686,000 | 17,146,000 | 16,043,000 | 16,253,000 |
Options vested (in shares) | 7,027,000 | |||
Options expected to vest (in shares) | 12,686,000 | |||
Weighted Average Exercise Price | ||||
Balance, beginning of period (in USD per share) | $ 11.83 | $ 6.33 | $ 4.56 | |
Options granted (in USD per share) | 0 | 18.68 | 11.27 | |
Options exercised (in USD per share) | 8.49 | 5.40 | 4.87 | |
Options cancelled (in USD per share) | 9.46 | 6.20 | 3.79 | |
Options forfeited (in USD per share) | 14.52 | 10.47 | 5.50 | |
Balance, end of period (in USD per share) | 12.30 | $ 11.83 | $ 6.33 | $ 4.56 |
Options vested (in USD per share) | 9.43 | |||
Options expected to vest (in USD per share) | $ 12.30 | |||
Weighted Average Remaining Years | ||||
Beginning balance (in years) | 7 years | 8 years 2 months 26 days | 8 years 4 months 20 days | 9 years 10 days |
Options granted (in years) | 8 years 6 months | 9 years 1 month 9 days | ||
Options exercised (in years) | 5 years 25 days | 5 years 6 months 21 days | ||
Options vested (in years) | 6 years 5 months 1 day | |||
Options expected to vest (in years) | 7 years | |||
Aggregate Intrinsic value (in millions) | ||||
Beginning balance | $ 894.8 | $ 166.6 | $ 70.6 | |
Ending balance | 470.8 | $ 894.8 | $ 166.6 | $ 70.6 |
Options vested | 281 | |||
Options expected to vest | $ 470.8 |
Equity - Schedule of Weighted A
Equity - Schedule of Weighted Average Fair Value Assumptions (Details) | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
2021 ESPP | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend yield (as a percent) | 0% | 0% | |
2021 ESPP | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate (as a percent) | 1.62% | 0.07% | |
Volatility (as a percent) | 44.95% | 38.47% | |
Expected term (in years) | 6 months | 6 months 25 days | |
2021 ESPP | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate (as a percent) | 4.55% | 0.17% | |
Volatility (as a percent) | 55.19% | 41.75% | |
Expected term (in years) | 2 years | 1 year 25 days | |
Stock options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate (as a percent) | 1.10% | 0.50% | |
Volatility (as a percent) | 43.50% | 31.90% | |
Expected term (in years) | 6 years 1 month 6 days | 6 years 7 days | |
Dividend yield (as a percent) | 0% | 0% | 0% |
Equity - Schedule of Restricted
Equity - Schedule of Restricted Stock Units Activity (Details) - RSUs - $ / shares shares in Thousands | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Number of Shares | ||
Balance, beginning of period (in shares) | 272 | 0 |
Granted (in shares) | 6,286 | 272 |
Vested (in shares) | (930) | 0 |
Canceled/forfeited (in shares) | (610) | 0 |
Balance, ending of period (in shares) | 5,018 | 272 |
Weighted- Average grant date fair value | ||
Balance, beginning of period (in USD per share) | $ 82.11 | $ 0 |
Granted (in USD per share) | 52.52 | 82.11 |
Vested (in USD per share) | 55.01 | 0 |
Canceled/forfeited (in USD per share) | 54.56 | 0 |
Balance, ending of period (in USD per share) | $ 53.33 | $ 82.11 |
Chief Executive Officer | ||
Number of Shares | ||
Granted (in shares) | 3,000 |
Equity - Stock-Based Compensati
Equity - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total stock-based compensation expense | $ 122,567 | $ 30,009 | $ 111,846 |
Tender Offer | Affiliated Entity | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share repurchase, incremental cost | 300 | 103,300 | |
Cost of revenue | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total stock-based compensation expense | 5,078 | 1,300 | 1,185 |
Research and development | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total stock-based compensation expense | 36,325 | 8,305 | 31,519 |
Sales and marketing | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total stock-based compensation expense | 48,001 | 10,550 | 21,504 |
General and administrative | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total stock-based compensation expense | $ 33,163 | $ 9,854 | $ 57,638 |
Joint Venture and Equity Meth_3
Joint Venture and Equity Method Investment - Narrative (Details) shares in Millions | 1 Months Ended | 12 Months Ended | ||||||||
Sep. 07, 2022 USD ($) | Jul. 01, 2022 USD ($) | Apr. 04, 2022 USD ($) | Mar. 29, 2022 USD ($) | Mar. 31, 2022 USD ($) day | Apr. 30, 2021 USD ($) | Jan. 31, 2023 USD ($) shares | Jan. 31, 2022 USD ($) | Jan. 31, 2021 USD ($) | ||
Noncontrolling Interest [Line Items] | ||||||||||
Stock-based compensation expense | $ 122,567,000 | $ 30,009,000 | $ 111,846,000 | |||||||
Operating lease expense | $ 562,000 | |||||||||
Operating lease expense | 200,000 | 0 | ||||||||
Operating lease, remaining term (in years) | 2 years | |||||||||
Operating lease, total lease payments | $ 1,200,000 | |||||||||
Operating lease liabilities | 1,100,000 | |||||||||
Contributions received from noncontrolling interests, net of issuance costs | 61,726,000 | 26,450,000 | 0 | |||||||
Decrease from deconsolidation | 11,342,000 | |||||||||
Gain from deconsolidation of Meltano Inc. | 17,798,000 | 0 | 0 | |||||||
Carrying value of investment | [1] | 12,682,000 | 0 | |||||||
Loss from equity method investment, net of tax | (2,468,000) | $ 0 | $ 0 | |||||||
Noncontrolling Interests | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Stock-based compensation expense | 7,756,000 | |||||||||
Decrease from deconsolidation | 11,342,000 | |||||||||
Meltano Inc. | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Gain from deconsolidation of Meltano Inc. | 17,800,000 | |||||||||
Carrying value of investment | 12,700,000 | |||||||||
Loss from equity method investment, net of tax | $ (2,500,000) | |||||||||
Stake in equity method investment (as a percent) | 96% | |||||||||
Meltano Inc. | Employee stock options | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Potentially dilutive equity instruments (in shares) | shares | 3.5 | |||||||||
Meltano Inc. | Preferred Stock | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Stake in equity method investment (as a percent) | 46% | |||||||||
Potentially dilutive equity instruments (in shares) | shares | 3.1 | |||||||||
Meltano Inc. | Noncontrolling Interests | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Decrease in net assets upon consolidation | $ 9,400,000 | |||||||||
Decrease from deconsolidation | 11,300,000 | |||||||||
Meltano Inc. | Accumulated Deficit | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Decrease from deconsolidation | 15,900,000 | |||||||||
JiHu | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Consideration received on transaction, net | $ 4,100,000 | $ 22,800,000 | $ 27,700,000 | |||||||
Stock-based compensation expense | $ 7,800,000 | |||||||||
Compensation expense not yet recognized | $ 14,500,000 | |||||||||
Period for recognition (in years) | 3 years 2 months 12 days | |||||||||
Meltano Inc. | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Consideration received on transaction, net | $ 7,200,000 | |||||||||
Contributions received from noncontrolling interests, net of issuance costs | $ 4,200,000 | |||||||||
Variable Interest Entity, Primary Beneficiary | JiHu | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Loans payable | $ 2,900,000 | |||||||||
Loan payable, period (in days) | day | 10 | |||||||||
JiHu | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Ownership percentage by noncontrolling owners | 72% | |||||||||
Ownership percentage | 55% | |||||||||
Meltano Inc. | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Ownership percentage by noncontrolling owners | 12% | |||||||||
Investment in subsidiary | $ 400,000 | |||||||||
[1](1) As of January 31, 2023 and January 31, 2022, the consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $62.8 million and $17.7 million, respectively, and liabilities of $8.9 million and $3.7 million, respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the general credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Joint Venture and Equity Meth_4
Joint Venture and Equity Method Investment - Schedule of Intercompany Eliminations (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | ||||
Noncontrolling Interest [Line Items] | ||||||
Revenue | $ 424,336 | $ 252,653 | $ 152,176 | |||
Cost of revenue | 51,680 | 29,985 | 18,463 | |||
Gross profit | 372,656 | 222,668 | 133,713 | |||
Sales and marketing | 309,992 | 190,754 | 154,086 | |||
Research and development | 156,143 | 97,217 | 106,643 | |||
General and administrative | 117,932 | 63,654 | 86,868 | |||
Total operating expenses | 584,067 | 351,625 | 347,597 | |||
Loss from operations | (211,411) | (128,957) | (213,884) | |||
Interest income | 14,496 | 736 | 1,070 | |||
Total other income (expense), net | 21,585 | (30,850) | 23,452 | |||
Net loss | (180,696) | (157,560) | (192,194) | |||
Net loss attributable to noncontrolling interest | (8,385) | (2,422) | 0 | |||
Cash and cash equivalents | 295,402 | [1] | 884,672 | [1] | $ 282,850 | |
Property and equipment, net | [1] | 5,797 | 3,271 | |||
Operating lease right-of-use assets | [1] | 998 | ||||
TOTAL ASSETS | [1] | 1,169,200 | 1,091,438 | |||
Total liabilities | [1] | 344,475 | 292,169 | |||
Variable Interest Entity, Primary Beneficiary | ||||||
Noncontrolling Interest [Line Items] | ||||||
Revenue | 4,743 | 1,237 | ||||
Cost of revenue | 1,731 | 945 | ||||
Gross profit | 3,012 | 292 | ||||
Sales and marketing | 7,670 | 3,200 | ||||
Research and development | 6,818 | 2,299 | ||||
General and administrative | 10,515 | 3,589 | ||||
Total operating expenses | 25,003 | 9,088 | ||||
Loss from operations | (21,991) | (8,796) | ||||
Interest income | 659 | 0 | ||||
Total other income (expense), net | 1,633 | 67 | ||||
Net loss before income taxes | (19,699) | (8,729) | ||||
Net loss | (19,699) | (8,729) | ||||
Net loss attributable to noncontrolling interest | (8,385) | (2,422) | ||||
Cash and cash equivalents | 56,744 | 14,198 | ||||
Property and equipment, net | 1,135 | 769 | ||||
Other assets | 3,950 | 2,765 | ||||
TOTAL ASSETS | 62,827 | 17,732 | ||||
Total liabilities | $ 8,871 | $ 3,663 | ||||
[1](1) As of January 31, 2023 and January 31, 2022, the consolidated balance sheet includes assets of the consolidated variable interest entity, GitLab Information Technology (Hubei) Co., LTD (“JiHu”), of $62.8 million and $17.7 million, respectively, and liabilities of $8.9 million and $3.7 million, respectively. The assets of JiHu can be used only to settle obligations of JiHu and creditors of JiHu do not have recourse against the general credit of the Company. Refer to “Note 11. Joint Venture and Equity Method Investment” for further discussion. |
Joint Venture and Equity Meth_5
Joint Venture and Equity Method Investment - Supplemental Information Related to Operating Leases (Details) $ in Thousands | 12 Months Ended |
Jan. 31, 2023 USD ($) | |
Leases [Abstract] | |
Weighted-average remaining lease term (in years) | 1 year 3 months 18 days |
Weighted-average discount rate | 3.70% |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 515 |
Cash paid for amounts included in the measurement of lease liabilities | $ 797 |
Income Taxes - Components of To
Income Taxes - Components of Total Income (Loss) From Continuing Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Income Tax Disclosure [Abstract] | |||
US | $ (4,877) | $ 19,486 | $ (48,866) |
Foreign | (170,453) | (178,557) | (140,496) |
Loss before income taxes | $ (175,330) | $ (159,071) | $ (189,362) |
Income Taxes - Schedule of Inco
Income Taxes - Schedule of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Current: | |||
Federal and State | $ 1,432 | $ (863) | $ 2,517 |
Foreign | 822 | 671 | 315 |
Total current | 2,254 | (192) | 2,832 |
Deferred: | |||
Federal and State | 614 | (1,443) | 0 |
Foreign | 30 | 124 | 0 |
Total deferred | 644 | (1,319) | 0 |
Provision for (benefit from) income taxes | $ 2,898 | $ (1,511) | $ 2,832 |
Income Taxes - Effective Income
Income Taxes - Effective Income Tax Rate Reconciliation (Details) | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
Tax at federal statutory rate | 21% | 21% | 21% |
State, net of federal benefit | (0.20%) | 0.20% | (0.20%) |
Stock-based compensation | (0.40%) | 5% | (7.30%) |
Non-deductible Executive Compensation | (1.60%) | (0.50%) | 0% |
Research tax credit | 2.70% | 1% | 0.20% |
Foreign rate differential | 5.50% | 6.10% | 2.80% |
Change in valuation allowance | (29.00%) | (30.30%) | (18.60%) |
Foreign derived intangible income deduction | 0.60% | 0.30% | 0.20% |
Unrecognized tax benefits | (0.50%) | (1.30%) | 0% |
Other | 0.20% | (0.60%) | 0.40% |
Total | (1.70%) | 0.90% | (1.50%) |
Income Taxes - Components of De
Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 |
Deferred tax assets: | ||
Net operating loss carryforwards | $ 144,016 | $ 99,291 |
Research tax credits | 2,359 | 1,211 |
Deferred revenue | 5,876 | 3,811 |
Accruals and other assets | 3,590 | 2,714 |
Intangibles | 8,278 | 14,751 |
Stock-based compensation | 5,040 | 1,587 |
Gross deferred tax assets | 169,159 | 123,365 |
Valuation allowance | (159,470) | (115,839) |
Net deferred tax assets | 9,689 | 7,526 |
Deferred tax liabilities: | ||
Deferred contract acquisition costs | (6,095) | (6,516) |
Acquired intangibles | (863) | (1,389) |
Equity Method Investment | (2,892) | 0 |
Fixed Assets | (499) | 0 |
Other | (189) | 0 |
Net deferred tax liabilities | $ (849) | $ (379) |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Details) - USD ($) | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Valuation Allowance [Line Items] | |||
Increase in valuation allowance | $ 43,600,000 | ||
Deferred tax liabilities, net | 849,000 | $ 379,000 | |
Unrecognized tax benefits | 7,460,000 | 5,557,000 | $ 0 |
Unrecognized tax benefits that would effect tax rate | 500,000 | 800,000 | |
Interest and penalties recognized | 200,000 | $ 100,000 | $ 0 |
Federal | |||
Valuation Allowance [Line Items] | |||
Net operating loss carryforwards | 2,300,000 | ||
Federal | Research Tax Credit Carryforward | |||
Valuation Allowance [Line Items] | |||
Tax credit carryforward | 4,200,000 | ||
State | |||
Valuation Allowance [Line Items] | |||
Net operating loss carryforwards | 87,700,000 | ||
State | Research Tax Credit Carryforward | |||
Valuation Allowance [Line Items] | |||
Tax credit carryforward | 1,400,000 | ||
Foreign | |||
Valuation Allowance [Line Items] | |||
Net operating loss carryforwards | $ 539,900,000 |
Income Taxes - Schedule of Unre
Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | $ 5,557 | $ 0 |
Gross increases and decreases due to tax positions taken in prior periods | 685 | 4,076 |
Gross increases and decreases due to tax position taken in current period | 1,369 | 1,481 |
Gross increases and decreases due to settlements with taxing authorities | 0 | 0 |
Gross increases and decreases due to lapses in applicable statutes of limitations | (151) | 0 |
Ending balance | $ 7,460 | $ 5,557 |
Net Loss per Share - Schedule o
Net Loss per Share - Schedule of Earning Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Earnings Per Share [Abstract] | |||
Net loss attributable to GitLab, basic | $ (172,311) | $ (155,138) | $ (192,194) |
Net loss attributable to GitLab, diluted | $ (172,311) | $ (155,138) | $ (192,194) |
Weighted-average shares used to compute net loss per share attributable to GitLab Class A and Class B common stockholders, basic (in shares) | 148,407 | 79,755 | 50,343 |
Weighted-average shares used to compute net loss per share attributable to GitLab Class A and Class B common stockholders, diluted (in shares) | 148,407 | 79,755 | 50,343 |
Net loss per share attributable to GitLab Class A and Class B common stockholders, basic (in USD per share) | $ (1.16) | $ (1.95) | $ (3.82) |
Net loss per share attributable to GitLab Class A and Class B common stockholders, diluted (in USD per share) | $ (1.16) | $ (1.95) | $ (3.82) |
Net Loss per Share - Schedule_2
Net Loss per Share - Schedule of Potentially Dilutive Securities (Details) - shares shares in Thousands | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potentially dilutive securities (in shares) | 21,305 | 21,396 | 97,177 |
Shares subject to outstanding common stock options | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potentially dilutive securities (in shares) | 12,686 | 17,146 | 16,043 |
Unvested restricted stock in connection with business combination | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potentially dilutive securities (in shares) | 8 | 16 | 0 |
Unvested early exercised stock options | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potentially dilutive securities (in shares) | 194 | 714 | 1,510 |
Unvested RSUs and PSUs | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potentially dilutive securities (in shares) | 8,336 | 3,264 | 0 |
Shares subject to the 2021 ESPP | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potentially dilutive securities (in shares) | 81 | 256 | 0 |
Convertible preferred stock (on an if-converted basis) | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potentially dilutive securities (in shares) | 0 | 0 | 79,551 |
Warrants | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potentially dilutive securities (in shares) | 0 | 0 | 73 |
Commitments and Contingencies -
Commitments and Contingencies - Hosting Infrastructure Commitments (Details) $ in Thousands | 12 Months Ended |
Jan. 31, 2023 USD ($) | |
Other Commitments [Line Items] | |
Total | $ 216,948 |
Less than 1 Year | 112,911 |
1-3 Years | 104,037 |
Hosting Infrastructure Commitments | |
Other Commitments [Line Items] | |
Total | 126,000 |
Minimum service commitment | $ 171,000 |
Commitments and Contingencies_2
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions | Jan. 31, 2023 | Jan. 31, 2022 |
Commitments and Contingencies Disclosure [Abstract] | ||
Estimate of possible loss | $ 2.5 | $ 2.6 |
Subsequent Events (Details)
Subsequent Events (Details) - Subsequent Event - Reduction In Force $ in Millions | 3 Months Ended |
Apr. 30, 2023 USD ($) | |
Subsequent Event [Line Items] | |
Positions eliminated, percent | 7% |
Restructuring charges | $ 9 |
Employee Severance | |
Subsequent Event [Line Items] | |
Severance costs | 7.5 |
One-time Termination Benefits | |
Subsequent Event [Line Items] | |
Severance costs | $ 1.5 |
Schedule II_ Valuation and Qu_2
Schedule II: Valuation and Qualifying Accounts (Details) - SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | Jan. 31, 2021 | |
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Year | $ 115,839 | $ 74,870 | $ 37,847 |
Additions | 43,631 | 40,969 | 37,023 |
Write-offs or Deductions | 0 | 0 | 0 |
Balance at End of Year | $ 159,470 | $ 115,839 | $ 74,870 |