DOCUSIGN, INC., 10-K filed on 3/21/2024
Annual Report
v3.24.1
Cover Page - USD ($)
$ in Billions
 12 Months Ended
Jan. 31, 2024
Feb. 29, 2024
Jul. 31, 2023
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Jan. 31, 2024    
Current Fiscal Year End Date --01-31    
Document Transition Report false    
Entity File Number 001-38465    
Entity Registrant Name DOCUSIGN, INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 91-2183967    
Entity Address, Address Line One 221 Main St.    
Entity Address, Address Line Two Suite 1550    
Entity Address, City or Town San Francisco    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 94105    
City Area Code 415    
Local Phone Number 489-4940    
Title of 12(b) Security Common Stock, par value $0.0001 per share    
Trading Symbol DOCU    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer Yes    
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    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 10.8
Entity Common Stock, Shares Outstanding   205,415,129  
Documents Incorporated by Reference
DOCUMENTS INCORPORATED BY REFERENCE
Portions of the definitive proxy statement for our 2024 Annual Meeting of Stockholders are incorporated by reference in Part III of this Form 10-K. We intend to file such proxy statement with the Securities and Exchange Commission (“the SEC”), within 120 days of the fiscal year ended January 31, 2024.
    
Entity Central Index Key 0001261333    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Amendment Flag false    
v3.24.1
Audit Information
 12 Months Ended
Jan. 31, 2024
Audit Information [Abstract]  
Auditor Firm ID 238
Auditor Name PricewaterhouseCoopers LLP
Auditor Location San Jose, California
v3.24.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Current assets    
Cash and cash equivalents $ 797,060 $ 721,895
Investments—current 248,402 309,771
Accounts receivable, net of allowance for doubtful accounts of $5,499 and $6,011 as of January 31, 2024 and 2023 439,299 516,914
Contract assets—current 15,922 12,437
Prepaid expenses and other current assets 66,984 69,987
Total current assets 1,567,667 1,631,004
Investments—noncurrent 121,977 186,049
Property and equipment, net 245,173 199,892
Operating lease right-of-use assets 123,188 141,493
Goodwill 353,138 353,619
Intangible assets, net 50,905 70,280
Deferred contract acquisition costs—noncurrent 409,627 350,899
Other assets—noncurrent 99,615 79,484
Total assets 2,971,290 3,012,720
Current liabilities    
Accounts payable 19,029 24,393
Accrued expenses and other current liabilities 104,037 100,987
Accrued compensation 195,266 163,133
Convertible senior notes—current 0 722,887
Contract liabilities—current 1,320,059 1,172,867
Operating lease liabilities—current 22,230 24,055
Total current liabilities 1,660,621 2,208,322
Contract liabilities—noncurrent 21,980 16,925
Operating lease liabilities—noncurrent 120,823 141,348
Deferred tax liability—noncurrent 16,795 10,723
Other liabilities—noncurrent 21,332 18,115
Total liabilities 1,841,551 2,395,433
Commitments and contingencies (Note 9)
Stockholders’ equity    
Preferred stock, $0.0001 par value; 10,000 shares authorized, 0 shares issued and outstanding as of January 31, 2024 and 2023 0 0
Common stock, $0.0001 par value; 500,000 shares authorized, 205,326 shares outstanding as of January 31, 2024; 500,000 shares authorized, 201,904 shares outstanding as of January 31, 2023 21 20
Treasury stock, at cost: 18 shares as of January 31, 2024; 10 shares as of January 31, 2023 (2,164) (1,785)
Additional paid-in capital 2,821,461 2,240,732
Accumulated other comprehensive loss (19,360) (22,996)
Accumulated deficit (1,670,219) (1,598,684)
Total stockholders’ equity 1,129,739 617,287
Total liabilities and equity $ 2,971,290 $ 3,012,720
v3.24.1
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
shares in Thousands, $ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Statement of Financial Position [Abstract]    
Accounts receivable, allowance for credit loss $ 5,499 $ 6,011
Preferred stock, par value (in usd per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 10,000 10,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, par value (in usd per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 500,000 500,000
Common stock, shares outstanding (in shares) 205,326 201,904
Treasury stock, shares (in shares) 18 10
v3.24.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Revenue:      
Total revenue $ 2,761,882 $ 2,515,915 $ 2,107,213
Cost of revenue:      
Total cost of revenue 572,621 536,088 466,451
Gross profit 2,189,261 1,979,827 1,640,762
Operating expenses:      
Sales and marketing 1,168,137 1,242,711 1,076,527
Research and development 539,488 480,584 393,362
General and administrative 419,621 316,228 232,757
Restructuring and other related charges 30,381 28,335 0
Total operating expenses 2,157,627 2,067,858 1,702,646
Income (loss) from operations 31,634 (88,031) (61,884)
Interest expense (6,844) (6,389) (6,443)
Interest income and other income, net 68,889 4,539 1,413
Income (loss) before provision for income taxes 93,679 (89,881) (66,914)
Provision for income taxes 19,699 7,573 3,062
Net income (loss) $ 73,980 $ (97,454) $ (69,976)
Net income (loss) per share attributable to common stockholders:      
Basic (in usd per share) $ 0.36 $ (0.49) $ (0.36)
Diluted (in usd per share) $ 0.36 $ (0.49) $ (0.36)
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]      
Basic (in shares) 204,070 200,903 196,675
Diluted (in shares) 208,950 200,903 196,675
Other comprehensive income (loss):      
Foreign currency translation losses, net of tax $ (254) $ (15,336) $ (7,935)
Unrealized gains (losses) on investments, net of tax 3,890 (2,851) (1,838)
Other comprehensive income (loss) 3,636 (18,187) (9,773)
Comprehensive income (loss) 77,616 (115,641) (79,749)
Stock-based compensation expense included in costs and expenses:      
Stock-based compensation expense 616,847 538,726 408,542
Sales and marketing      
Stock-based compensation expense included in costs and expenses:      
Stock-based compensation expense 203,855 222,334 186,759
Research and development      
Stock-based compensation expense included in costs and expenses:      
Stock-based compensation expense 184,211 149,967 108,523
General and administrative      
Stock-based compensation expense included in costs and expenses:      
Stock-based compensation expense 143,773 88,125 54,761
Restructuring and other related charges      
Stock-based compensation expense included in costs and expenses:      
Stock-based compensation expense 5,012 5,626 0
Subscription      
Revenue:      
Total revenue 2,686,708 2,442,177 2,037,272
Cost of revenue:      
Total cost of revenue 459,905 426,077 343,661
Subscription | Cost of revenue      
Stock-based compensation expense included in costs and expenses:      
Stock-based compensation expense 51,660 46,916 31,152
Professional services and other      
Revenue:      
Total revenue 75,174 73,738 69,941
Cost of revenue:      
Total cost of revenue 112,716 110,011 122,790
Professional services and other | Cost of revenue      
Stock-based compensation expense included in costs and expenses:      
Stock-based compensation expense $ 28,336 $ 25,758 $ 27,347
v3.24.1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Cumulative Effect, Period of Adoption, Adjustment
Common Stock
Additional Paid-In Capital
Additional Paid-In Capital
Cumulative Effect, Period of Adoption, Adjustment
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Accumulated Deficit
Cumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Jan. 31, 2021     192,807            
Beginning balance at Jan. 31, 2021 $ 325,737 $ (73,905) $ 19 $ 1,702,254 $ (86,144) $ (1,048) $ 4,964 $ (1,380,452) $ 12,239
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Settlement of convertible senior notes (in shares) 700   749            
Settlement of convertible senior notes $ (873)     (873)          
Exercise of stock options (in shares)     1,693            
Exercise of stock options 23,729     23,729          
Settlement of restricted stock units (in shares)     5,071            
Settlement of restricted stock units 0   $ 1 (1)          
Tax withholding on net share settlement of restricted stock units and employee stock purchase plan (in shares)     (1,760)            
Tax withholding on net share settlement of restricted stock units and employee stock purchase plan (389,399)     (388,915)   (484)      
Employee stock purchase plan (in shares)     264            
Employee stock purchase plan 46,077     46,077          
Charitable donation of common stock (in shares)     10            
Charitable donation of common stock 3,000     3,000          
Employee stock-based compensation 420,886     420,886          
Net income (loss) (69,976)             (69,976)  
Other comprehensive income (loss), net (9,773)           (9,773)    
Ending balance (in shares) at Jan. 31, 2022     198,834            
Ending balance at Jan. 31, 2022 275,503   $ 20 1,720,013   (1,532) (4,809) (1,438,189)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Exercise of stock options (in shares)     868            
Exercise of stock options 12,678     12,678          
Settlement of restricted stock units (in shares)     4,230            
Tax withholding on net share settlement of restricted stock units and employee stock purchase plan (in shares)     (1,428)            
Tax withholding on net share settlement of restricted stock units and employee stock purchase plan (89,153)     (88,900)   (253)      
Employee stock purchase plan (in shares)     535            
Employee stock purchase plan $ 36,526     36,526          
Repurchases of common stock (in shares) (1,100)   (1,135)            
Repurchases of common stock $ (63,041)             (63,041)  
Employee stock-based compensation 560,415     560,415          
Net income (loss) (97,454)             (97,454)  
Other comprehensive income (loss), net $ (18,187)           (18,187)    
Ending balance (in shares) at Jan. 31, 2023 201,904   201,904            
Ending balance at Jan. 31, 2023 $ 617,287   $ 20 2,240,732   (1,785) (22,996) (1,598,684)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Settlement of convertible senior notes $ 104     104          
Exercise of stock options (in shares) 840   840            
Exercise of stock options $ 13,991     13,991          
Settlement of restricted stock units (in shares)     7,523            
Settlement of restricted stock units 1   $ 1            
Tax withholding on net share settlement of restricted stock units and employee stock purchase plan (in shares)     (2,722)            
Tax withholding on net share settlement of restricted stock units and employee stock purchase plan (142,373)     (141,994)   (379)      
Employee stock purchase plan (in shares)     839            
Employee stock purchase plan $ 32,993     32,993          
Repurchases of common stock (in shares) (3,100)   (3,058)            
Repurchases of common stock $ (145,515)             (145,515)  
Settlement of capped calls, net of related costs 23,688     23,688          
Employee stock-based compensation 651,947     651,947          
Net income (loss) 73,980             73,980  
Other comprehensive income (loss), net $ 3,636           3,636    
Ending balance (in shares) at Jan. 31, 2024 205,326   205,326            
Ending balance at Jan. 31, 2024 $ 1,129,739   $ 21 $ 2,821,461   $ (2,164) $ (19,360) $ (1,670,219)  
v3.24.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Cash flows from operating activities:      
Net income (loss) $ 73,980 $ (97,454) $ (69,976)
Adjustments to reconcile net income (loss) to net cash provided by operating activities      
Depreciation and amortization 95,062 86,255 81,913
Amortization of deferred contract acquisition and fulfillment costs 200,163 185,045 144,442
Amortization of debt discount and transaction costs 4,749 4,970 5,098
Non-cash operating lease costs 21,310 27,501 26,819
Stock-based compensation expense 616,847 538,726 408,542
Deferred income taxes 6,292 1,697 1,369
Other (1,904) 15,723 9,871
Changes in operating assets and liabilities      
Accounts receivable 71,681 (75,964) (117,380)
Prepaid expenses and other current assets (657) (5,038) (7,074)
Deferred contract acquisition and fulfillment costs (255,159) (232,315) (207,393)
Other assets (15,432) (22,319) (11,496)
Accounts payable (4,826) (26,440) 12,148
Accrued expenses and other liabilities 6,473 7,340 10,828
Accrued compensation 33,979 (1,781) 1,128
Contract liabilities 152,247 143,177 250,482
Operating lease liabilities (25,279) (42,364) (32,854)
Net cash provided by operating activities 979,526 506,759 506,467
Cash flows from investing activities:      
Cash paid for acquisition, net of acquired cash 0 0 (6,388)
Purchases of marketable securities (336,221) (533,710) (384,128)
Sales of marketable securities 0 0 7,569
Maturities of marketable securities 473,869 423,917 283,184
Purchases of strategic and other investments (645) (3,750) (1,750)
Purchases of property and equipment (92,391) (77,654) (61,396)
Net cash provided by (used in) investing activities 44,612 (191,197) (162,909)
Cash flows from financing activities:      
Repayments of convertible senior notes (726,979) (16) (77,906)
Repurchases of common stock (145,515) (63,041) 0
Settlement of capped calls, net of related costs 23,688 0 0
Payment of tax withholding obligation on net RSU settlement and ESPP purchase (144,218) (84,403) (386,521)
Proceeds from exercise of stock options 13,991 12,678 23,729
Proceeds from employee stock purchase plan 32,994 36,526 46,077
Net cash used in financing activities (946,039) (98,256) (394,621)
Effect of foreign exchange on cash, cash equivalents and restricted cash 199 (3,784) (5,594)
Net increase (decrease) in cash, cash equivalents and restricted cash 78,298 213,522 (56,657)
Cash, cash equivalents and restricted cash at beginning of period 723,201 509,679 566,336
Cash, cash equivalents and restricted cash at end of period 801,499 723,201 509,679
Supplemental disclosure:      
Cash paid for interest 185 185 349
Cash paid for operating lease liabilities 34,845 38,873 40,552
Cash paid for income taxes 10,460 10,416 6,940
Non-cash investing and financing activities:      
Property and equipment in accounts payable and accrued expenses and other current liabilities 2,879 4,757 11,285
Operating lease right-of-use assets exchanged for lease obligations 3,149 63,086 2,749
Fair value of shares issued as part of the repayments of convertible senior notes $ 0 $ 2 $ 174,230
v3.24.1
Summary of Significant Accounting Policies
 12 Months Ended
Jan. 31, 2024
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Organization and Description of Business

DocuSign, Inc. (“we,” “our” or “us”) was incorporated in the State of Washington in April 2003. We merged with and into DocuSign, Inc., a Delaware corporation, in March 2015.

DocuSign offers products that address agreement workflows and digital transformation as part of its agreement management platform, enabling agreements to be signed electronically on a wide variety of devices, from virtually anywhere in the world, securely. DocuSign’s core product offerings, including the world’s leading electronic signature product, allow organizations to do business faster with less risk and at a lower cost, while providing a better experience for customers.

Basis of Presentation and Principles of Consolidation

Our consolidated financial statements include those of DocuSign, Inc. and our subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The accompanying consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”). Our fiscal year ends on January 31. References to fiscal 2024, for example, are to the fiscal year ended January 31, 2024.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions in the consolidated financial statements and notes thereto.

Significant items subject to such estimates and assumptions made by management include, but are not limited to, the determination of:
•the average period of benefit associated with deferred contract acquisition costs and fulfillment costs;
•the fair value of certain stock awards issued;
•the fair value of convertible notes;
•the useful life and recoverability of long-lived assets;
•the discount rate used for operating leases;
•the recognition and measurement of loss contingencies; and
•the recognition, measurement and valuation of deferred income taxes.

Concentration of Credit Risk

Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash, cash equivalents, marketable securities and accounts receivable. Although we deposit our cash with multiple financial institutions, the deposits, at times, may exceed federally insured limits. We have not experienced any losses on our deposits of cash and cash equivalents. Cash equivalents consist of money market funds, which are invested through financial institutions in the U.S. Management believes that the institutions are financially stable and, accordingly, minimal credit risk exists.

No customer individually accounted for more than 10% of our revenues in the years ended January 31, 2024, 2023, and 2022 or for more than 10% of our accounts receivable as of January 31, 2024 and 2023. We perform ongoing credit evaluations of our customers, do not require collateral and maintain allowances for potential credit losses on customers’ accounts using the expected loss model.

Revenue Recognition

We recognize revenue when a customer obtains control of promised services. We apply significant judgment in identifying and evaluating any terms and conditions in contracts which may impact revenue recognition. The amount of revenue recognized reflects the consideration that we expect to be entitled to receive in exchange for these services. To achieve the core principle of this standard, we apply the following steps:
1. Identification of the contract, or contracts, with the customer

We consider the terms and conditions of the contract and our customary business practices in identifying our contracts under ASC 606. We determine we have a contract with a customer when the contract is approved, we can identify each party’s rights regarding the services to be transferred, we can identify the payment terms for the services, we have determined the customer has the ability and intent to pay and the contract has commercial substance. At contract inception we evaluate whether two or more contracts should be combined and accounted for as a single contract and whether the combined or single contract includes more than one performance obligation. We apply judgment in determining the customer’s ability and intent to pay, which is based on a variety of factors, including the customer’s historical payment experience or, in the case of a new customer, credit and financial information pertaining to the customer.

2. Identification of the performance obligations in the contract

Performance obligations promised in a contract are identified based on the services and the products that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the 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 services and the products is separately identifiable from other promises in the contract. Our performance obligations consist of (i) subscription services, (ii) professional services, (iii) on-premises solutions, and (iv) maintenance and support for on-premises solutions.

3. Determination of the transaction price

The transaction price is determined based on the consideration to which we expect to be entitled in exchange for transferring services to the customer. Variable consideration is included in the transaction price if, in our judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. None of our contracts contain a significant financing component.

4. Allocation of the transaction price to the performance obligation in the contract

If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price ("SSP").

5. Recognition of the revenue when, or as, we satisfy a performance obligation

Revenue is recognized at the time the related performance obligation is satisfied by transferring the control of the promised service to a customer. Revenue is recognized as control of the service is transferred to the customer, in an amount that reflects the consideration that we expect to receive in exchange for those services. We generate all our revenue from contracts with customers.

Subscription Revenue

We generate revenue primarily from sales of subscriptions to access our software platform and related subscriptions of our customers. Our subscription revenue is driven by our go-to-market model, which includes a combination of direct sales, partner-assisted sales and web-based self-service purchasing. Subscription arrangements with customers do not provide the customer with the right to take possession of our software operating platform at any time. Instead, customers are granted continuous access to our software platform over the contractual period. A time-elapsed method is used to measure progress because we transfer control evenly over the contractual period. Accordingly, the fixed consideration related to subscription revenue is generally recognized on a straight-line basis over the contract term beginning on the date access to our software platform is provided.

Professional Services and Other Revenue

Professional services and other revenue consists of fees associated with consulting and training services from assisting customers in implementing and expanding the use of our software platform. These services are generally distinct from subscription services. Professional services do not result in significant customization of the subscription service. Revenue from professional services provided on a time and materials basis is recognized as the services are performed. Other revenue includes amounts derived from the sale of our on-premises solutions, which are recognized upon passage of control, which occurs upon shipment of the product. The maintenance and support on the on-premises solutions is a stand-ready obligation to perform this service over the term of the arrangement and, as a result, is accounted for ratably over the term of the arrangement.
Contracts with Multiple Performance Obligations

Most of our contracts with customers contain multiple performance obligations that are distinct and accounted for separately. The transaction price is allocated to the separate performance obligations on a relative SSP basis. We determine SSP for our performance obligations based on our observable inputs, such as standalone sales and historical contract pricing. SSP is consistent with our overall pricing objectives, taking into consideration the type of subscription services and professional and other services.

Variable Consideration

Revenue from sales is recorded at the net sales price, which is the transaction price, and includes estimates of variable consideration. The amount of variable consideration that is included in the transaction price is constrained and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue will not occur when the uncertainty is resolved.

If our services do not meet certain service level commitments, our customers are entitled to receive service credits, and in certain cases, refunds, each representing a form of variable consideration. We have historically not experienced any significant incidents affecting the defined levels of reliability and performance as required by our subscription contracts. Accordingly, the amount of any estimated refunds related to these agreements in the consolidated financial statements is not material during the periods presented.

Deferred Contract Acquisition Costs

We capitalize sales commissions, certain parts of the company bonus and associated payroll taxes paid to internal sales personnel that are incremental to the acquisition of customer contracts as deferred contract acquisition costs in "Prepaid expenses and other current assets" and "Deferred contract acquisition costs—noncurrent" on our consolidated balance sheets. We determine whether costs should be deferred based on our sales compensation plans, if the commissions are in fact incremental and would not have occurred absent the customer contract.

These deferred commissions are amortized on a straight-line basis over the periods of benefit, commensurate with the pattern of revenue recognition. Commissions paid for renewal of a subscription contract are not considered commensurate with the commissions paid for the acquisition of the initial subscription contract given the substantive difference in commission rates between new and renewal contracts. The period of benefit for commissions paid for the acquisition of the initial subscription contract, of five years, is determined by taking into consideration our initial estimated customer life and the technological life of our software platform and related significant features. The period of benefit for renewal subscription contracts, of two years, is determined by the weighted average contractual term for renewal contracts.

Commissions paid on professional services contracts are amortized over the period of benefit, being the period the associated revenue is earned as the commissions paid on new and renewal professional services contracts are commensurate with each other.

Amortization of deferred contract acquisition costs is primarily included in the “Sales and marketing” expense in the consolidated statements of operations and comprehensive income (loss).

We periodically review these deferred costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit of these deferred contract acquisition costs. There were no material impairment losses recorded during the periods presented.

Deferred Contract Fulfillment Costs

We capitalize third-party costs to fulfill contracts with a customer in “Prepaid expenses and other current assets” and “Other assets—noncurrent” on our consolidated balance sheets. We amortize these costs on a straight-line basis consistent with the ratable revenue recognition of the performance obligations in the associated contracts.

Cost of Revenue

“Subscription” cost of revenue primarily consists of personnel and related costs to support our software platform, amortization expense associated with capitalized internally-developed software and technology-related intangible assets, property and equipment depreciation, allocated overhead expenses, merchant processing fees and server hosting costs.
“Professional services and other” cost of revenue consists primarily of personnel costs for our professional services delivery team, travel-related costs and allocated overhead.

Advertising

Advertising costs are expensed as incurred and are included in “Sales and marketing” expense in our consolidated statements of operations and comprehensive income (loss). Advertising expense was $95.0 million, $128.3 million and $115.7 million in the years ended January 31, 2024, 2023 and 2022.

Research and Development

Research and development costs are expensed as incurred and consist primarily of personnel costs, including salaries, bonuses and benefits, and stock-based compensation.

Stock-Based Compensation

Compensation cost for stock-based awards issued to employees, including stock options, ESPP purchase rights and RSUs, is measured at fair value on the date of grant and recognized over the service period, generally on a straight-line basis.

The fair value of stock options and ESPP purchase rights is estimated on the date of grant using a Black-Scholes option-pricing model. The fair value of RSUs is estimated on the date of grant based on the fair value of our underlying common stock. From time to time, we grant RSUs that also include performance-based or market-based conditions. For RSUs granted with a market condition, we use a Monte Carlo option-pricing model to determine the fair value of the RSUs.

Compensation expense for RSUs granted with a market or a performance condition is recognized on a graded vesting basis over the requisite service period. The amount of compensation expense related to the RSUs granted with a performance condition is determined after assessing the probability of achieving requisite performance criteria.

We recognize compensation expense related to shares issued pursuant to the 2018 ESPP on a straight-line basis over the offering period of six months.

Compensation expense is recognized net of forfeitures that are estimated at the time of grant and revised in subsequent periods if actual forfeitures differ from those estimates.

We capitalize stock-based compensation costs incurred as a result of qualifying internally-developed software development activities.

We may elect to issue shares on the settlement dates net of the statutory tax withholding requirements to be paid by us on behalf of our employees. In these instances, we record the liability for withholding amounts to be paid by us as treasury stock or as a reduction to additional paid-in capital, and include these payments as a reduction of cash flows from financing activities.

Restructuring charges

Restructuring liabilities arise when management commits to a restructuring plan, the restructuring plan identifies all significant actions, the period of time to complete the restructuring plan indicates that significant changes to the plan are not likely and employees who are impacted have been notified of the pending involuntary termination. Restructuring charges are accrued in the period in which it is probable that the employees are entitled to the restructuring benefits and the amounts can be reasonably estimated.

Income Taxes

We use the asset and liability method of accounting for income taxes. Under this method, income tax expense is recognized for the amount of taxes payable or refundable for the current year. In addition, deferred tax assets and liabilities are recognized for expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and for operating losses and tax credit carryforwards. We record a valuation allowance to reduce our deferred tax assets to an amount for which realization is more likely than not.
Foreign Currency

The functional currency of our foreign entities and branches is generally the local currency. Monetary assets and liabilities and transactions denominated in currencies other than an entity's functional currency are remeasured into its functional currency using current exchange rates at each balance sheet date. Nonmonetary assets and liabilities are not remeasured. We recognize gains and losses from such adjustments within “Interest income and other income, net” in the consolidated statements of operations and comprehensive income (loss) in the period of occurrence.

We present our financial statements in U.S. dollars. Adjustments resulting from translating foreign functional currency financial statements into U.S. dollars are recorded as a separate component on our consolidated statements of comprehensive income (loss), net of tax. All assets and liabilities denominated in a foreign currency are translated at the exchange rate on the balance sheet date. Revenues and expenses are translated at the average exchange rate during the period. Equity transactions are translated using the historical exchange rate.

Net Income (Loss) Per Share Attributable to Common Stockholders

In periods when we have net income, we compute basic and diluted net income per share in conformity with the two-class method required for participating securities. The undistributed earnings are allocated between common stock and participating securities as if all earnings had been distributed during the period presented.

Basic net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share attributable to common stockholders is computed by giving effect to all potential shares of common stock, including shares underlying our convertible senior notes, unvested stock awards, outstanding stock options, ESPP purchase rights, convertible preferred stock, and warrants to purchase common stock and convertible preferred stock, to the extent they are dilutive. The dilutive potential shares of common stock are computed using the treasury stock method or the as-if converted method, as applicable.

For periods presented in which we have reported net losses, dilutive common shares are not assumed to have been issued as their effect would have been antidilutive. Therefore, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders.

Cash and Cash Equivalents

Cash and cash equivalents consist of money market funds, highly liquid investments with original maturities of three months or less at the date of purchase and deposits with financial institutions and are carried at fair value.

Investments

Investments in marketable securities consist of commercial paper, corporate notes and bonds, municipal notes and bonds, as well as U.S. Treasury and government agency securities. Management determines the appropriate classification of investments at the time of purchase and reevaluates such determination at each balance sheet date. Marketable securities are classified as available-for-sale and are carried at fair value in the consolidated balance sheet and are classified as short-term or long-term based on their remaining contractual maturities.

We evaluate our investments with unrealized loss positions at the individual security level to determine whether the unrealized loss was related to credit or noncredit factors. We consider whether a credit loss exists based on the extent of the unrealized loss position, any adverse conditions specifically related to the security or the issuer's operating environment, pay structure of the security, the issuer's payment history and any changes in the issuer's credit rating. Estimated credit losses are determined using a discounted cash flow model and recorded as an allowance, with changes in expected credit losses on our investments recorded in “Interest income and other income, net” in the consolidated statements of operations and comprehensive loss. Unrealized gains and losses related to noncredit factors are reflected in “Accumulated other comprehensive loss” on the consolidated balance sheets.
Strategic Investments

Our strategic investments consist of non-marketable equity investments in privately-held companies and investment companies in which we do not have a controlling interest or significant influence. We have elected to apply the measurement alternative for equity investments in privately-held companies that do not have readily determinable fair values, measuring them at cost, less any impairment, plus or minus adjustments resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. We have elected to measure our equity investments in investment companies that do not have readily determinable fair values based on the investment’s net asset value. An impairment loss is recorded when an event or circumstance indicates a decline in value has occurred.

As of January 31, 2024 and 2023, we held equity investments in privately-held companies totaling $13.2 million and $12.5 million that were classified in “Other assets—noncurrent” on our consolidated balance sheets.

Restricted Cash

Restricted cash consists primarily of certificates of deposits collateralizing our operating lease agreements for office space and cash withheld from employees to fund claims and program expenses related to the Voluntary Disability Plans in California.

The following table illustrates the reconciliation of cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows as of January 31, 2024, 2023, and 2022:
January 31,
(in thousands)202420232022
Cash and cash equivalents$797,060 $721,895 $509,059 
Restricted cash included in prepaid expense and other current assets1,332 37 280 
Restricted cash included in other assets - noncurrent3,107 1,269 340 
Total cash, cash equivalents, and restricted cash$801,499 $723,201 $509,679 

Fair Value of Financial Instruments

We measure assets and liabilities at fair value based on an expected exit price, which represents the amount that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value:
Level 1Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
Level 2Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.
Level 3Unobservable inputs reflecting our own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available
Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement of assets and liabilities being measured within the fair value hierarchy.

The carrying values of cash, accounts receivable and accounts payable approximate their respective fair values due to the short period of time to maturity, receipt or payment.
Accounts Receivable and Credit Losses

Accounts receivable primarily consist of amounts billed currently due from customers. Our accounts receivable are subject to collection risk. Gross accounts receivable are reduced for this risk by an allowance for doubtful accounts. This allowance is for estimated losses resulting from the inability of our customers to make required payments. Our allowance for doubtful accounts includes balances that are specifically identified for adequacy based on a regular evaluation of such factors as age of the receivable balance, current economic conditions, credit quality of the customer, and past collection experience. We also include in our allowance for doubtful accounts an estimate for future credit losses, based on historical experience, which is recorded in the period in which we invoice our customers. We do not have any off-balance-sheet credit exposure related to our customers.

We do not typically offer right of refund in our contracts and do not require collateral from our customers. Changes in the allowance for doubtful accounts were not material in all periods presented.

Property and Equipment

Property and equipment, including costs incurred to bring to the location and condition necessary for intended use, are recorded at cost and depreciated over their estimated useful lives using the straight-line method and the following estimated useful lives:
Estimated Useful Life
Computer and network equipment
3 years
Software, including capitalized software development costs
3 - 5 years
Furniture and office equipment
3 - 4 years
Leasehold improvements
Lesser of lease term and 10 years

Disposals are removed at cost less accumulated depreciation, and any gain or loss from disposition is reflected in the statement of operations and comprehensive income (loss) in the year of disposition. Additions and improvements that increase the value or extend the life of an asset are capitalized. Maintenance and repairs are expensed as incurred.

Leases

Leases arise from contractual obligations that convey the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. We determine whether an arrangement is or contains a lease at inception, based on whether there is an identified asset and whether we control the use of the identified asset throughout the period of use. At lease commencement date, we determine lease classification between finance and operating, allocate the consideration to the lease and nonlease components and recognize a right-of-use asset and corresponding lease liability for each lease component. A right-of-use asset represents our right to use an underlying asset and a lease liability represents our obligation to make payments during the lease term.

The lease liability is initially measured as the present value of the remaining lease payments over the lease term. The discount rate used to determine the present value is our incremental borrowing rate unless the interest rate implicit in the lease is readily determinable. We estimate our 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 initial direct costs, prepaid lease payments to lessors and lease incentives.

We do not recognize right-of-use assets and liabilities for leases with a term of twelve months or less. Additionally, we do not separate nonlease components from the associated lease components for our office leases and certain other asset classes. The total consideration includes fixed payments and contractual escalation provisions. We are responsible for maintenance, insurance, property taxes and other variable payments, which are expensed as incurred. Our leases include options to renew or terminate. We include the option to renew or terminate in our determination of the lease term when the option is deemed to be reasonably certain to be exercised.

Operating leases are classified in “Operating lease right-of-use assets”, “Operating lease liabilities—current”, and “Operating lease liabilities—noncurrent” on our consolidated balance sheets. Operating lease expense is recognized on a straight-line basis over the expected lease term and included in “Income (loss) from operations” in our consolidated statements of operations and comprehensive income (loss). We did not have material finance leases for all periods presented.
Goodwill

Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business combinations accounted for using the acquisition method of accounting and is not amortized. We test goodwill for impairment at least annually, on November 1, or as events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Such events and changes may include: significant changes in performance relative to expected operating results, significant changes in asset use, significant negative industry or economic trends, and changes in our business strategy.

Our test for goodwill impairment starts with a qualitative assessment to determine whether it is necessary to perform the quantitative goodwill impairment test. If qualitative factors indicate that the fair value of the reporting unit is more likely than not less than its carrying amount, then a quantitative goodwill impairment test is performed. For the purposes of impairment testing, we have determined that we have one operating segment and one reporting unit. We performed a qualitative assessment for the fiscal year ended January 31, 2024, and concluded that it is more likely than not that the fair value of the reporting unit significantly exceeds its carrying value. There was no impairment of goodwill recorded in the years ended January 31, 2023 and 2022.

Intangible Assets

Intangible assets with finite lives are amortized using the straight-line method over their estimated useful lives. The estimated useful lives of intangible assets, estimated based on our expected period of benefit, are as follows:
Estimated Useful Life
Existing technology
3 - 5 years
Customer contracts & related relationships
5 - 10 years
Other(1)
1 - 5 years
(1)Includes certifications, maintenance contracts and related relationships, subscription backlog and tradenames and trademarks

We evaluate the estimated remaining useful lives of intangible assets and other long-lived assets to assess whether a revision to the remaining periods of amortization is required.

Impairment of Long-Lived Assets

We review long-lived assets, including property and equipment and intangible assets, for impairment whenever events or changes in business circumstances indicate that the carrying amount of the asset group may not be fully recoverable. An impairment loss is recognized when estimated undiscounted future cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying amount. We recognized an impairment of $5.1 million on operating lease right-of-use assets as part of General and administrative expense during the year ended January 31, 2022. There was no impairment recognized in the other periods presented.

Software Development and Cloud Computing Arrangement Implementation Costs

We capitalize qualifying internally-developed software development costs incurred during the application development stage, as long as it is probable the project will be completed and the software will be used to perform the function intended. Capitalization of such costs ceases once the project is substantially complete and ready for its intended use. Capitalized software development costs are included in “Property and equipment, net” on our consolidated balance sheets and are amortized on a straight-line basis over their expected useful lives of approximately three to five years.

We also capitalize qualifying implementation costs under cloud computing arrangements (“CCA”). Capitalization of such costs ceases once the software of the hosting arrangement is ready for its intended use. The CCA implementation costs balance was $64.8 million and $49.5 million as of January 31, 2024 and 2023, and is included in “Other assets—noncurrent” on our consolidated balance sheets and amortized on a straight-line basis over the term of the associated hosting arrangement.

Business Combinations

We account for our acquisitions using the acquisition method of accounting, which requires, among other things, allocation of the fair value of purchase consideration to the tangible and intangible assets acquired and liabilities assumed at their estimated fair values on the acquisition date. The excess of the fair value of purchase consideration over the values of these identifiable assets and liabilities is recorded as goodwill.
Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain. During the measurement period, not to exceed one year from the date of acquisition, we may record adjustments to the assets acquired and liabilities assumed, with a corresponding offset to goodwill if new information is obtained related to facts and circumstances that existed as of the acquisition date. After the measurement period, any subsequent adjustments are reflected in the consolidated statements of operations and comprehensive income (loss).

Acquisition costs, such as legal and consulting fees, are expensed as incurred.

Segments

Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by our Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. Our Chief Executive Officer is our CODM. Our CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. As such, we have determined that we operate in one operating and one reportable segment.

Convertible Debt

Prior to February 1, 2021, we accounted for our convertible debt instruments as separate liability and equity components. We determined the carrying amount of the liability component as the present value of its cash flows using a discount rate based on comparable convertible transactions for similar companies. The carrying amount of the equity component representing the conversion option was calculated by deducting the fair value of the liability component from the principal amount of the convertible debt instruments as a whole.

This difference represented a debt discount that was amortized to interest expense over the term of the convertible debt instruments using the effective interest rate method. The equity component was not remeasured as long as it continued to meet the conditions for equity classification.

The transaction costs incurred related to the issuance of the convertible debt instruments were allocated to the liability and equity components based on their relative initial carrying value of the convertible debt instruments. Transaction costs attributable to the liability component were being amortized to interest expense over the respective terms of the convertible debt instruments, and transaction costs attributable to the equity component were netted against the equity component of the convertible debt instruments in stockholders’ equity.

Effective February 1, 2021, we account for our convertible debt instruments as a single liability measured at its amortized cost. At issuance, the carrying amount is calculated as the proceeds, net of initial purchasers’ discounts and transaction costs. The difference between the principal amount and carrying value is amortized to interest expense over the term of the convertible debt instruments using the effective interest rate method.

At settlement, the carrying amount of the liability is derecognized and the excess of the cash consideration, if any, over the carrying amount is recorded as a reduction to additional paid-in capital.

Capped calls entered into in connection with the offering of the convertible debt instruments are considered indexed to our own stock and are considered equity classified. They are recorded in stockholders’ equity and are not accounted for as derivatives. The cost incurred in connection with the capped calls was recorded as a reduction to additional paid-in capital. Subsequent unwinding of capped calls was recorded as an increase to cash and additional paid-in capital upon settlement.

Legal Contingencies

We evaluate contingent liabilities including threatened or pending litigation and make provisions for such liabilities when it is both probable that a loss has been incurred and its amount can be reasonably estimated. We periodically assess the likelihood of any adverse judgments or outcomes from potential claims or legal proceedings, as well as potential ranges of probable losses, when the outcomes of the claims or proceedings are probable and reasonably estimable. A determination of the amount of the liabilities required, if any, for these contingencies is made after the analysis of each separate matter.
Recent Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which enhances disclosures required for operating segments. ASU 2023-07 expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. All disclosure requirements of ASU 2023-07 are required for entities with a single reportable segment. ASU 2023-07 is effective for the Company’s fiscal year beginning February 1, 2024, and interim periods for the fiscal year beginning February 1, 2025, and should be applied on a retrospective basis to all periods presented. We are currently evaluating the effect of adopting ASU 2023-07 on our financial statement disclosures.

In December 2023, the FASB issued Accounting Standards Update 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), amending existing income tax disclosure guidance, primarily requiring more detailed disclosure for income taxes paid and the effective tax rate reconciliation. ASU 2023-09 is effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted and can be applied on either a prospective or retrospective basis. We are currently evaluating the effect of adopting ASU 2023-09 on our income tax disclosures.

We have not adopted accounting pronouncements during the year ended January 31, 2024.
v3.24.1
Revenue
 12 Months Ended
Jan. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Subscription revenue is recognized over time and accounted for approximately 97% of our revenue in each of the years ended January 31, 2024, 2023 and 2022.

Performance Obligations

As of January 31, 2024, the amount of the transaction price allocated to remaining performance obligations for contracts greater than one year was $2.2 billion. We expect to recognize 56% of the transaction price allocated to remaining performance obligations within the 12 months following January 31, 2024 in our consolidated statement of operations and comprehensive income (loss).

Contract Balances

Contract assets represent amounts for which we have recognized revenue, pursuant to our revenue recognition policy, for contracts that have not yet been invoiced to our customers where there is a remaining performance obligation, typically for multi-year arrangements. Total contract assets were $15.9 million and $12.4 million as of January 31, 2024 and 2023. The change in contract assets reflects the difference in timing between our satisfaction of remaining performance obligations and our contractual right to bill our customers.

Contract liabilities consist of deferred revenue and payments received in advance of performance under the contract. Such amounts are generally recognized as revenue over the contractual period. For the years ended January 31, 2024, 2023 and 2022, we recognized revenue of $1.2 billion, $1.0 billion and $773.7 million that was included in the corresponding contract liability balance at the beginning of the periods presented.

We receive payments from customers based upon contractual billing schedules. We record accounts receivable when the right to consideration becomes unconditional. Payment terms on invoiced amounts are typically 30 days.
Deferred Contract Acquisition and Fulfillment Costs
The following table represents a rollforward of our deferred contract acquisition and fulfillment costs:
Year Ended January 31,
(in thousands)20242023
Deferred Contract Acquisition Costs
Beginning balance$355,389 $315,158 
Additions to deferred contract acquisition costs209,353 179,898 
Amortization of deferred contract acquisition costs(155,807)(134,964)
Cumulative translation adjustment723 (4,703)
Ending balance$409,658 $355,389 
Deferred Contract Fulfillment Costs
Beginning balance$21,076 $19,088 
Additions to deferred contract fulfillment costs45,806 52,417 
Amortization of deferred contract fulfillment costs(44,356)(50,081)
Cumulative translation adjustment(1)(348)
Ending balance$22,525 $21,076 
v3.24.1
Fair Value Measurements
 12 Months Ended
Jan. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The following table summarizes our financial assets that are measured at fair value on a recurring basis:
January 31, 2024
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Level 1:
Cash equivalents(1)
Money market funds$298,517 $— $— $298,517 
Level 2:
Cash equivalents(1)
Commercial paper43,845 — (9)43,836 
U.S. government agency securities9,968 — (1)9,967 
Available-for-sale securities
Commercial paper42,958 2 (25)42,935 
Corporate notes and bonds299,166 262 (670)298,758 
U.S. governmental securities28,752 — (66)28,686 
Level 2 total424,689 264 (771)424,182 
Total$723,206 $264 $(771)$722,699 


January 31, 2023
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Level 1:
Cash equivalents(1)
Money market funds$133,009 $— $— $133,009 
Level 2:
Cash equivalents(1)
Commercial paper9,992 — (2)9,990 
Available-for-sale securities
Commercial paper85,957 — (258)85,699 
Corporate notes and bonds367,930 101 (3,771)364,260 
Municipal notes and bonds7,983 — (65)7,918 
U.S. governmental securities38,344 4 (405)37,943 
Level 2 total510,206 105 (4,501)505,810 
Total$643,215 $105 $(4,501)$638,819 
(1)Included in "cash and cash equivalents" in our consolidated balance sheets as of January 31, 2024 and 2023, in addition to cash of $444.8 million and $578.9 million

We use quoted prices in active markets for identical assets to determine the fair value of our Level 1 investments. The fair value of our Level 2 investments is determined using pricing based on quoted market prices or alternative market observable inputs.
The fair value of our available-for-sale securities as of January 31, 2024, by remaining contractual maturities, were as follows (in thousands):
Due in one year or less$248,402 
Due in one to two years121,977 
$370,379 

As of January 31, 2024 and 2023, securities in an unrealized loss position were, individually and in aggregate, not material. An allowance for credit losses was deemed unnecessary for these securities, given the extent of the unrealized loss positions as well as the issuers' high credit ratings and consistent payment history.

We had no liabilities measured at fair value on a recurring basis as of January 31, 2024 and 2023.

Strategic Investments

As of January 31, 2024 and 2023, we held equity investments in privately-held companies totaling $13.2 million and $12.5 million. The carrying value of strategic investments is adjusted to fair value on a non-recurring basis for observable transactions of identical or similar investments of the same issuer or for impairment. Strategic investments measured at fair value on a non-recurring basis are classified as Level 3 in the fair value hierarchy because nonrecurring fair value measurements may include observable and unobservable inputs. During the year ended January 31, 2023, the value of these investments decreased $3.7 million, net.

Convertible Senior Notes

As of January 31, 2024, the 2023 Notes and 2024 Notes had been extinguished. As of January 31, 2023, we estimated the fair value based on the estimated or actual bids and offers of the Notes in an over-the-counter market on the last trading day of the reporting period (Level 2), and the Notes were recorded at face value less unamortized debt discount and transaction costs as “Convertible senior notes—current.” Refer to Note 7 for further information.
(in thousands)January 31, 2023
0.5% Convertible Senior Notes due in 2023
Aggregate principal amount $37,083 
Fair value amount38,981 
0.0% Convertible Senior Notes due in 2024
Aggregate principal amount$690,000 
Fair value amount655,666 
v3.24.1
Property and Equipment, Net
 12 Months Ended
Jan. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net consisted of the following:
January 31,
(in thousands)20242023
Computer and network equipment$142,241 $138,869 
Software, including capitalized software development costs168,584 114,524 
Furniture and office equipment18,196 20,897 
Leasehold improvements58,230 73,415 
387,251 347,705 
Less: Accumulated depreciation(244,270)(210,781)
142,981 136,924 
Work in progress102,192 62,968 
$245,173 $199,892 
Depreciation and amortization expenses associated with property and equipment was $75.7 million, $65.5 million and $57.1 million in the years ended January 31, 2024, 2023 and 2022. This included amortization expense related to capitalized internally-developed software costs of $35.1 million, $19.7 million and $10.3 million in the respective years.
We capitalized $95.3 million, $66.1 million and $39.0 million of internally developed software costs, including $30.8 million, $19.2 million and $9.8 million of capitalized stock-based compensation in the years ended January 31, 2024, 2023 and 2022, respectively.
v3.24.1
Goodwill and Intangible Assets, Net
 12 Months Ended
Jan. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, Net Goodwill and Intangible Assets, Net
The changes in the carrying amount of goodwill were as follows (in thousands):
Balance at January 31, 2022$355,058 
Foreign currency translation(1,439)
Balance at January 31, 2023353,619 
Foreign currency translation(481)
Balance at January 31, 2024$353,138 

Intangible assets consisted of the following:
As of January 31, 2024As of January 31, 2023
(in thousands, except years)Weighted-average Remaining Useful Life (Years)Acquisition-related Intangibles, GrossAccumulated AmortizationAcquisition-related Intangibles, NetAcquisition-related Intangibles, GrossAccumulated AmortizationAcquisition-related Intangibles, Net
Existing technology1.3$76,194 $(65,777)$10,417 $76,194 $(56,920)$19,274 
Customer contracts & related relationships5.1110,082 (60,947)49,135 110,082 (50,429)59,653 
Other0.022,534 (22,534)— 22,534 (22,534)— 
4.4$208,810 $(149,258)59,552 $208,810 $(129,883)78,927 
Cumulative translation adjustment(8,647)(8,647)
Total$50,905 $70,280 

Amortization of finite-lived intangible assets was as follows:
Year Ended January 31,
(in thousands)202420232022
Cost of subscription revenue$8,857 $9,613 $11,670 
Sales and marketing10,518 11,093 13,100 
Total$19,375 $20,706 $24,770 

As of January 31, 2024, future amortization of finite-lived intangible assets that will be recorded in cost of revenue and operating expenses is estimated as follows, excluding cumulative translation adjustment:
Fiscal PeriodAmount
(in thousands)
2025$18,798 
202612,655 
202710,518 
20288,058 
20294,311 
Thereafter5,212 
Total$59,552 
v3.24.1
Deferred Contract Acquisition and Fulfillment Costs
 12 Months Ended
Jan. 31, 2024
Revenue from Contract with Customer [Abstract]  
Deferred Contract Acquisition and Fulfillment Costs Revenue
Subscription revenue is recognized over time and accounted for approximately 97% of our revenue in each of the years ended January 31, 2024, 2023 and 2022.

Performance Obligations

As of January 31, 2024, the amount of the transaction price allocated to remaining performance obligations for contracts greater than one year was $2.2 billion. We expect to recognize 56% of the transaction price allocated to remaining performance obligations within the 12 months following January 31, 2024 in our consolidated statement of operations and comprehensive income (loss).

Contract Balances

Contract assets represent amounts for which we have recognized revenue, pursuant to our revenue recognition policy, for contracts that have not yet been invoiced to our customers where there is a remaining performance obligation, typically for multi-year arrangements. Total contract assets were $15.9 million and $12.4 million as of January 31, 2024 and 2023. The change in contract assets reflects the difference in timing between our satisfaction of remaining performance obligations and our contractual right to bill our customers.

Contract liabilities consist of deferred revenue and payments received in advance of performance under the contract. Such amounts are generally recognized as revenue over the contractual period. For the years ended January 31, 2024, 2023 and 2022, we recognized revenue of $1.2 billion, $1.0 billion and $773.7 million that was included in the corresponding contract liability balance at the beginning of the periods presented.

We receive payments from customers based upon contractual billing schedules. We record accounts receivable when the right to consideration becomes unconditional. Payment terms on invoiced amounts are typically 30 days.
Deferred Contract Acquisition and Fulfillment Costs
The following table represents a rollforward of our deferred contract acquisition and fulfillment costs:
Year Ended January 31,
(in thousands)20242023
Deferred Contract Acquisition Costs
Beginning balance$355,389 $315,158 
Additions to deferred contract acquisition costs209,353 179,898 
Amortization of deferred contract acquisition costs(155,807)(134,964)
Cumulative translation adjustment723 (4,703)
Ending balance$409,658 $355,389 
Deferred Contract Fulfillment Costs
Beginning balance$21,076 $19,088 
Additions to deferred contract fulfillment costs45,806 52,417 
Amortization of deferred contract fulfillment costs(44,356)(50,081)
Cumulative translation adjustment(1)(348)
Ending balance$22,525 $21,076 
v3.24.1
Debt
 12 Months Ended
Jan. 31, 2024
Debt Disclosure [Abstract]  
Debt Debt
Convertible Senior Notes

In September 2018, we issued $575.0 million in aggregate principal amount of the 0.5% Convertible Senior Notes due in 2023, which included the initial purchasers’ exercise in full of their option to purchase an additional $75.0 million aggregate principal amount of the 2023 Notes. The net proceeds from the issuance of the 2023 Notes were $560.8 million after deducting the initial purchasers’ discounts and transaction costs.

In January 2021, we issued $690.0 million in aggregate principal amount of the 0% Convertible Senior Notes due in 2024, which included the initial purchasers’ exercise in full of their option to purchase an additional $90.0 million aggregate principal amount of the 2024 Notes. The net proceeds from the issuance of the 2024 Notes were $677.3 million after deducting the initial purchasers’ discounts and transaction costs.

When outstanding, the Notes were senior unsecured obligations and ranked senior in right of payment to any of our indebtedness that was expressly subordinated in right of payment to the Notes; equal in right of payment to any of our unsecured indebtedness then existing and future liabilities that are not so subordinated; effectively junior in right of payment to any of our secured indebtedness, to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities (including trade payables) of our subsidiaries.

The 2023 Notes were governed by an indenture dated September 18, 2018 (the “2018 Indenture”). The 2024 Notes were governed by an indenture dated January 15, 2021 (the “2021 Indenture,” and together with the 2018 Indenture, the “Indentures”). The Indentures were between us, as the issuer, and U.S. Bank National Association, as trustee. The Indentures did not contain any financial covenants or restrictions on the payments of dividends, the incurrence of indebtedness, or the issuance or repurchase of securities by us or any of our subsidiaries. The 2023 Notes matured on September 15, 2023. Interest on the 2023 Notes was payable semi-annually in arrears on March 15 and September 15 of each year. The Notes were subject to additional interest in certain events of default. The 2024 Notes matured on January 15, 2024.

Conversions of the 2023 Notes

During the year ended January 31, 2022, we settled $77.9 million aggregate amount of the principal of 2023 Notes, for aggregate consideration of $252.1 million, consisting of $77.9 million in cash and 0.7 million shares of our common stock with a value of $174.2 million. The $0.9 million excess of the cash consideration over the corresponding carrying value was recorded as a reduction to additional paid-in capital.
Extinguishment of the 2023 Notes and 2024 Notes

We repaid in cash $37.1 million and $689.9 million in aggregate principal amount of the 2023 Notes and 2024 Notes respectively during the year ended January 31, 2024.

Net Carrying Amounts of the Liability Components

As of January 31, 2024, the 2023 Notes and 2024 Notes had been extinguished, and all outstanding amounts were repaid in full. As of January 31, 2023, the 2023 Notes and 2024 Notes were within one year of maturity and were therefore classified as current liabilities in our consolidated balance sheets. The net carrying amounts of the Notes were as follows:
January 31,
(in thousands)20242023
2023 Notes (effective interest rate of 5.9%):
Principal$575,000 $575,000 
Less: extinguishment or conversion(575,000)(537,917)
Unpaid principal— 37,083 
Less: unamortized transaction costs— (118)
Net carrying value of liability component$— $36,965 
Excess of if-converted value over principal$— $— 
2024 Notes (effective interest rate of 3.8%):
Principal$690,000 $690,000 
Less: extinguishment or conversion(690,000)— 
Unpaid principal— 690,000 
Less: unamortized transaction costs— (4,078)
Net carrying value of liability component$— $685,922 
Excess of if-converted value over principal$— $— 

Interest expense recognized related to the Notes was as follows:
Year Ended January 31,
(in thousands)202420232022
Contractual interest expense$425 $185 $168 
Amortization of transaction costs4,197 4,415 4,544 
Total$4,622 $4,600 $4,712 
Capped Calls

To minimize the potential economic dilution to our common stock upon conversion of the Notes, we entered into privately-negotiated capped call transactions ("Capped Calls") with certain counterparties.

In the first quarter of fiscal 2024, we unwound $23.7 million of the Capped Calls in relation to our 2023 Notes and received cash from the counterparties. All remaining Capped Calls associated with the 2023 Notes and 2024 Notes expired during the year ended January 31, 2024.
Impact on Net Income (Loss) Per Share

In periods when we have net income, the shares of our common stock subject to the Notes outstanding during the period are included in our diluted earnings per share under the if-converted method.

Capped Calls are excluded from the calculation of diluted earnings per share, as they would be antidilutive. However, upon conversion, there will be no economic dilution from the Notes unless the market price of our common stock exceeds the initial $110.00 per share cap price associated with the 2023 Notes and $525.30 per share cap price associated with the 2024 Notes, as exercise of the Capped Calls offsets any dilution from the Notes from the conversion price up to the cap price.

As of January 31, 2024 and 2023, the market price of our common stock did not exceed the $110.00 per share cap price associated with the 2023 Notes or the $525.30 cap price associated with the 2024 notes. Therefore, the Notes would not have caused economic dilution if converted as of January 31, 2024 and 2023. As of January 31, 2022, the market price of our common stock exceeded the $110.00 per share cap price associated with the 2023 Notes but not the $525.30 cap price associated with the 2024 notes. Therefore, the 2023 Notes would have caused economic dilution if converted as of January 31, 2022.

Revolving Credit Facility

In January 2021, we entered into a credit agreement, as subsequently amended in May 2023, with a syndicate of banks. The credit agreement extended a senior secured revolving credit facility to us in an aggregate principal amount of $500.0 million, which amount may be increased by an additional $250.0 million subject to the terms of the credit agreement. We may use the proceeds of future borrowings under the credit facility to finance working capital, capital expenditures and for other general corporate purposes, including permitted acquisitions.

The facility matures in January 2026 and requires us to comply with customary affirmative and negative covenants. We were in compliance with all covenants as of January 31, 2024. As of January 31, 2024, there were no outstanding borrowings under the revolving credit facility. The facility is subject to customary fees for loan facilities of this type, including ongoing commitment fees at a rate between 0.25% and 0.30% per annum on the daily undrawn balance.
v3.24.1
Leases
 12 Months Ended
Jan. 31, 2024
Leases [Abstract]  
Leases Leases
We lease offices under noncancelable operating lease agreements that expire at various dates through the end of July 2034. Some of our operating leases contain escalation provisions for adjustments in the consumer price index and options to renew. We include a renewal option in the lease terms for calculating our lease liability when we are reasonably certain that we will exercise the renewal option.

Operating lease expense for the fiscal years ended January 31, 2024, 2023 and 2022 was $28.5 million, $33.2 million and $34.4 million.

Future lease payments under operating leases as of January 31, 2024, were as follows:
Fiscal Period:Amount (in thousands)
2025$28,350 
202623,407 
202721,064 
202817,044 
202914,526
Thereafter69,278 
Total undiscounted cash flows$173,669 
Less: imputed interest(30,616)
Present value of lease liabilities$143,053 
The weighted average remaining lease terms as of January 31, 2024 and 2023 were 8.1 years and 8.5 years. The discount rates for operating leases as of January 31, 2024 and 2023 were 4.7% and 4.6%.
v3.24.1
Commitments and Contingencies
 12 Months Ended
Jan. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
As of January 31, 2024, we had unused letters of credit outstanding totaling $2.4 million, the majority of which are associated with our various operating leases.

We have entered into certain noncancelable contractual arrangements that require future purchases of goods and services. These arrangements primarily relate to cloud infrastructure support and sales and marketing activities. As of January 31, 2024, our future noncancelable minimum payments due under these contractual obligations with a remaining term of more than one year were as follows:
Fiscal Period:Amount (in thousands)
2025$62,266 
202654,399 
20278,318 
20281,663 
20291,138 
Thereafter484 
Total$128,268 

In May 2022, we entered into an agreement with a public cloud computing service provider. Under the agreement, the minimum commitment is $175.0 million through fiscal 2028. As of January 31, 2024, the remaining commitment, which is excluded from the table above, was $123.0 million.

Indemnification

We enter into indemnification provisions under our agreements with customers and other companies in the ordinary course of business, including business partners, contractors and parties performing our research and development. Pursuant to these arrangements, we agree to indemnify and defend the indemnified party for certain claims and related losses suffered or incurred by the indemnified party from actual or threatened third-party claims because of our activities. The duration of these indemnification agreements is generally perpetual. The maximum potential amount of future payments we could be required to make under these indemnification clauses or agreements is not determinable. Historically, we have not incurred material costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, we believe the fair value of these indemnification agreements is not material as of January 31, 2024 and 2023. We maintain commercial general liability insurance and product liability insurance to offset certain of our potential liabilities under these indemnification agreements.

We have entered into indemnification agreements with each of our directors, executive officers and certain other officers. These agreements require us to indemnify such individuals, to the fullest extent permitted by Delaware law, for certain liabilities to which they may become subject as a result of their affiliation with us.

Claims and Litigation

From time to time, we may be subject to legal proceedings, claims and litigation made against us in the ordinary course of business. Legal costs associated with litigation are expensed as incurred. We believe the final outcome of these matters, including the case described below, will not have a material adverse effect on our business, consolidated financial position, results of operations or cash flows.

DocuSign, Inc. Securities Litigation and Related Derivative Litigation

On February 8, 2022, a putative securities class action was filed in the U.S. District Court for the Northern District of California, captioned Weston v. DocuSign, Inc., et al., Case No. 3:22-cv-00824, naming DocuSign and certain of our then-current and former officers as defendants. An amended complaint was filed on July 8, 2022. As amended, the suit purports to allege claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder, based on allegedly false and misleading statements about our business and prospects during the course of the COVID-19 pandemic. As amended, the suit is purportedly brought on behalf of purchasers of our securities between June 4, 2020 and June 9, 2022. Our motion to dismiss the case at the pleading stage was denied by the U.S. District Court on April 18, 2023 and the suit is now proceeding.
An earlier action alleging similar claims against the same defendants, captioned Collins v. DocuSign, Inc., et al., Case No. 3:22-cv-00851, filed in the Eastern District of New York and subsequently transferred to the Northern District of California, was voluntarily dismissed on February 14, 2022.

Five putative shareholder derivative cases have been filed containing allegations based on or similar to those in the securities class action (Weston). The cases were filed on May 17, 2022, in the U.S. District Court for the District of Delaware, captioned Pottetti v. Springer, et al., Case No. 1:22-cv-00652; on May 19, 2022 in the U.S. District Court for the Northern District of California, captioned Lapin v. Springer, et al., Case No. 3:22-cv-02980; on May 20, 2022, in the U.S. District Court for the Northern District of California, captioned Votto v. Springer, et al., Case No. 3:22-cv-02987; on September 20, 2022 in the U.S. District Court for the Northern District of California, captioned Fox v. Springer, et al., Case No. 3:22-cv-05343; and on March 7, 2024 in the Delaware Court of Chancery, captioned Roy v. Alhadeff, et al., Case No. C.A. 2024-0223-JTL. Each case is allegedly brought on the Company’s behalf. The suits name the Company as a nominal defendant and, depending on the particular case, the members of our board of directors or, in certain instances, then-current or former officers, as defendants. While the complaints vary, they are based largely on the same underlying allegations as the securities class action suit described above (Weston), as well as, in certain instances, alleged insider trading. Collectively, these lawsuits purport to assert claims for, among other things, breach of fiduciary duty, aiding and abetting such breach, corporate waste, gross mismanagement, unjust enrichment, and under Sections 10(b) and 21D of the Securities Exchange Act of 1934. The complaints seek to recover unspecified damages and other relief on the Company’s behalf. By court order dated July 19, 2022, the two cases in the Northern District of California (Lapin and Votto) have been consolidated and stayed in light of the securities class action and no response to the complaints in the action will be due unless and until the stay is lifted. The third case in the Northern District of California (Fox) was related to the other derivative suits and assigned to the same judge, and was similarly stayed by order of the court on December 2, 2022. The Delaware suit (Pottetti) was voluntarily dismissed on September 1, 2022, and then re-filed in the Delaware Court of Chancery on September 22, 2022, under the caption Pottetti v. Springer, et al., Case No. C.A. 2022-0852-PAF. The Delaware Court of Chancery issued an order on September 30, 2022 staying the action in light of the securities class action and no response to the complaint will be due unless and until the stay is lifted. We anticipate seeking a stay of the newly filed Delaware suit (Roy) on similar terms.

DocuSign Civil Litigation

On October 25, 2022, an action was filed in the Delaware Court of Chancery, captioned Daniel D. Springer v. Mary Agnes Wilderotter and DocuSign, Inc., Civil Action No. 2022-0963-LWW, concerning Mr. Springer’s resignation from our board of directors. Mr. Springer’s complaint sought relief determining that he did not resign from his position on our board of directors and remains a director, and for an award of attorneys’ fees and costs associated with the civil action. To avoid the cost and distraction of further litigation with Mr. Springer, the Company offered to stipulate to entry of judgment in favor of Mr. Springer as to his disputed resignation and his status as a member of our board of directors. Following our offer, on January 11, 2023, the Chancery Court issued an order declaring and confirming that (i) Mr. Springer has not resigned from the board of directors and (ii) Mr. Springer is currently a member of the board of directors. Mr. Springer subsequently filed a motion seeking payment of his attorneys’ fees. DocuSign has opposed this motion, which remains pending before the Delaware Court of Chancery.

In addition, on January 26, 2023, Mr. Springer delivered a demand for arbitration before JAMS, a private alternative dispute resolution firm, captioned Daniel D. Springer v. DocuSign, Inc. and Mary Agnes Wilderotter. In the demand, Mr. Springer alleges that he was wrongfully terminated as Chief Executive Officer; asserts related claims against DocuSign and Ms. Wilderotter, including defamation, withholding promised compensation and breach of contract; and seeks unspecified damages and other relief. The arbitration hearing for this case took place from March 11-15, 2024, and a final order from the arbitrator is expected on or before June 30, 2024.
v3.24.1
Stockholders' Equity
 12 Months Ended
Jan. 31, 2024
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
Common Stock Reserved for Future Issuance

We have reserved the following shares of common stock, on an as-if converted basis, for future issuance as follows:
January 31,
(in thousands)20242023
RSUs outstanding26,965 17,801 
Options issued and outstanding1,385 2,228 
Remaining shares available for future issuance under the Equity Incentive Plans35,663 39,538 
Remaining shares available for future issuance under the ESPP10,628 9,447 
Total shares of common stock reserved74,641 69,014 

Equity Incentive Plans

We maintain three stock-based compensation plans: the 2018 Equity Incentive Plan (the “2018 Plan”), the Amended and Restated 2011 Equity Incentive Plan (the “2011 Plan”) and the Amended and Restated 2003 Stock Plan (the “2003 Plan”).

Our board of directors adopted, and our stockholders approved, the 2018 Plan during the year ended January 31, 2019. The 2018 Plan went into effect in April 2018, upon the effectiveness of our IPO Registration Statement. The 2018 Plan serves as a successor to the 2011 Plan and 2003 Plan and provides for the grant of stock-based awards to our employees, directors and consultants. Shares available for grant under the 2011 Plan that were reserved but not issued as of the effective date of the 2018 Plan were added to the reserves of the 2018 Plan. No additional awards under the 2011 Plan or 2003 Plan have been made since the effective date of the 2018 Plan. Outstanding awards under these two plans continue to be subject to the terms and conditions of the respective plans.

Additionally, any shares subject to outstanding awards originally granted under the 2011 Plan that: (i) expire or terminate for any reason prior to exercise or settlement; (ii) are forfeited because of the failure to meet a contingency or condition required to vest such shares or otherwise returned to DocuSign, Inc.; or (iii) are reacquired, withheld (or not issued) to satisfy a tax withholding obligation in connection with an award or to satisfy the purchase price or exercise price of a stock award are added to the reserves of the 2018 Plan.

The 2018 Plan permits the granting of incentive stock options, nonstatutory stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, performance stock awards, performance cash awards and other stock awards. RSUs granted under the 2018 Plan generally vest over a four-year period, either quarterly or with 25% vesting at the end of one year and the remainder quarterly thereafter. Additionally, we grant performance stock awards to our executives on an annual basis.

Shares available for grant under the 2018 Plan for the year ended January 31, 2024 was as follows:
(in thousands)Year Ended
January 31, 2024
Available at beginning of fiscal year39,538 
Awards authorized10,095 
Shares granted(19,573)
Shares canceled/expired2,888 
Shares withheld for taxes2,715 
Available at end of fiscal year35,663 

The 2018 Plan provides that the number of shares reserved will automatically increase on the first day of each fiscal year, beginning on February 1, 2019, and ending on February 1, 2028, by 5% of the total number of shares of our capital stock outstanding on the immediately preceding January 31st (or such lesser number of shares as our board of directors or a committee of our board of directors may approve). The most recent automatic increase of 10.3 million shares occurred on February 1, 2024.
RSUs

The majority of RSUs vest upon the satisfaction of a service-based vesting condition. From time to time, we may also grant RSUs that are subject to either a performance-based or market-based vesting conditions. The performance-based conditions will be satisfied upon satisfaction of certain financial performance targets. The market-based conditions will be satisfied if certain milestones based on our common stock price or relative total shareholder return are met. The weighted-average grant date fair value for RSUs granted during the years ended January 31, 2024, 2023 and 2022 was $54.15, $66.50 and $226.20 per share. The total grant date fair value of RSUs vested during the years ended January 31, 2024, 2023 and 2022 was $631.8 million, $461.8 million and $367.1 million.

RSU activity for the year ended January 31, 2024 was as follows:
(in thousands, except per share data)Number of UnitsWeighted-Average Grant Date Fair Value
Unvested at January 31, 202317,621 $81.30 
Granted19,573 54.15 
Vested(7,609)83.03 
Canceled(2,885)83.30 
Unvested at January 31, 202426,700 $60.70 

As of January 31, 2024, our total unrecognized compensation cost related to RSUs was $1.2 billion. We expect to recognize this expense over the remaining weighted-average period of approximately 3.0 years.

As of January 31, 2024, the grant date fair value of unvested RSUs subject to market-based and performance-based vesting conditions was $117.9 million.

We calculated the fair value of the RSU with market conditions using Monte Carlo option-pricing model based on the following assumptions:

Year Ended January 31,
202420232022
Risk-free interest rate4.12 %
3.21% - 4.42%
0.30 %
Expected dividend yield— %— %— %
Expected life (in years)3.0
1.0 - 6.7
3.0
Expected volatility71 %
54% - 66%
46 %

Stock Options

There were no options granted during the years ended January 31, 2024, 2023 and 2022.

Option activity for the year ended January 31, 2024 was as follows:
(in thousands, except per share data and years)Number of OptionsWeighted-Average Exercise Price Per ShareWeighted-Average Remaining Contractual Term (Years)Aggregate Intrinsic Value
Outstanding at January 31, 2023, all vested and exercisable2,228 $17.11 3.60$96,839 
Exercised(840)16.65 
Canceled/expired(3)17.48 
Outstanding at January 31, 2024, all vested and exercisable1,385 $17.39 2.63$60,117 
As of January 31, 2024, there was no remaining unrecognized compensation cost related to stock option grants. The aggregate intrinsic value of options exercised during the years ended January 31, 2024, 2023 and 2022 was $23.6 million, $48.1 million and $391.2 million.

2018 Employee Stock Purchase Plan

During the year ended January 31, 2019, our board of directors adopted, and our stockholders approved the ESPP. In April 2018, the ESPP went into effect upon the effectiveness of our IPO Registration Statement. The ESPP allows eligible employees to purchase shares of our common stock at a discounted price by accumulating funds, normally through payroll deductions, of up to 15% of their earnings. The purchase price for common stock under the ESPP is equal to 85% of the fair market value of our common stock on the first or last day of the offering period, whichever is lower. The ESPP provides for separate six-month offering periods that begin in the first and third quarter of each year.

We calculated the fair value of the ESPP purchase right using the Black-Scholes option-pricing model, based on the following assumptions:
Year Ended January 31,
202420232022
Risk-free interest rate
4.93% - 5.59%
1.15% - 4.04%
0.04%-0.06%
Expected dividend yield— %— %— %
Expected life of purchase right (in years)0.50.50.5
Expected volatility
31% - 76%
83% - 102%
43% - 58%

The expected term for the ESPP purchase rights is based on the duration of the offering period. Estimated volatility for ESPP purchase rights is based on the historical volatility of our common stock price. The interest rate is derived from government bonds with a similar term to the ESPP purchase right granted. We have not declared, nor do we expect to declare dividends. Compensation expense related to the ESPP was $16.0 million, $22.2 million and $18.6 million for the years ended January 31, 2024, 2023 and 2022.

The number of shares reserved under the ESPP will automatically increase on the first day of each fiscal year, starting on February 1, 2019 and continuing through February 1, 2028, in an amount equal to the lesser of (i) 1% of the total number of shares of our common stock outstanding on January 31 of the preceding fiscal year, (ii) 3.8 million shares, or (iii) a lesser number of shares determined by our board of directors. As of January 31, 2024, 10.6 million shares of common stock were reserved for issuance under the ESPP.

Stock Repurchase Program

In March 2022, our board of directors authorized a stock repurchase program of up to $200.0 million of our outstanding common stock. Subsequently, in September 2023, our board of directors authorized an increase to its existing stock repurchase program for an additional amount of up to $300.0 million of our outstanding common stock.

During the year ended January 31, 2024, we repurchased and canceled 3.1 million shares of common stock at an average price of $47.57 per share, for an aggregate amount of $145.5 million. During the year ended January 31, 2023, we repurchased and canceled 1.1 million shares of common stock at an average price of $55.52 per share, for an aggregate amount of $63.0 million.
v3.24.1
Restructuring and Other Related Charges
 12 Months Ended
Jan. 31, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Other Related Charges Restructuring and Other Related Charges
2023 Restructuring Plan

During fiscal 2023, the board of directors authorized a restructuring plan (the “2023 Restructuring Plan”) in response to changing economic conditions and in an effort to reduce our operational costs and improve our organizational efficiency. As of the fourth quarter of fiscal 2023, the 2023 Restructuring Plan had been substantially completed.

2024 Restructuring Plan

During fiscal 2024, the board of directors authorized a restructuring plan (the “2024 Restructuring Plan”) designed to support our growth, scale and profitability objectives. As of the second quarter of fiscal 2024, the 2024 Restructuring Plan had been substantially completed.

The amounts associated with both restructuring plans are recorded to the Restructuring and other related charges within our consolidated statements of operations and comprehensive income (loss) as they are incurred.

For the year ended January 31, 2024, restructuring and other related charges were $30.4 million, and primarily composed of $28.8 million for employee termination benefits, which included stock-based compensation expense of $5.0 million. For the year ended January 31, 2023, restructuring and other related charges were $28.3 million, and primarily composed of $27.4 million for employee termination benefits, which included stock-based compensation expense of $5.6 million.

The following table summarizes our restructuring liabilities during the year ended January 31, 2024:

(in thousands)January 31, 2023AccrualsCash PaymentsJanuary 31, 2024
2023 Restructuring Plan
Employee termination benefits$384 $1,749 $(2,133)$— 
Other158 20 (178)— 
Total$542 $1,769 $(2,311)$— 
2024 Restructuring Plan
Employee termination benefits$— $21,837 $(21,837)$— 
Other— 1,554 (1,432)122 
Total$— $23,391 $(23,269)$122 
v3.24.1
Net Income (Loss) per Share Attributable to Common Stockholders
 12 Months Ended
Jan. 31, 2024
Earnings Per Share [Abstract]  
Net Income (Loss) per Share Attributable to Common Stockholders Net Income (Loss) per Share Attributable to Common Stockholders
The following table presents the calculation of basic and diluted net income (loss) per share attributable to common stockholders for periods presented:
Year Ended January 31,
(in thousands, except per share data)202420232022
Numerator:
Net income (loss) attributable to common stockholders, basic$73,980 $(97,454)$(69,976)
Add: Interest expense on convertible senior notes425 — — 
Net income (loss) attributable to common stockholders, diluted$74,405 $(97,454)$(69,976)
Denominator:
Weighted-average common shares outstanding, basic204,070 200,903 196,675 
Effect of dilutive securities4,880 — — 
Weighted-average common shares outstanding, diluted208,950 200,903 196,675 
Net income (loss) per share attributable to common stockholders:
Basic$0.36 $(0.49)$(0.36)
Diluted$0.36 $(0.49)$(0.36)

Outstanding potentially dilutive securities that were excluded from the diluted per share calculations because they would have been antidilutive are as follows:
January 31,
(in thousands)202420232022
RSUs6,430 15,129 7,843 
Stock options— 2,228 3,105 
ESPP— 516 287 
Convertible senior notes— 2,161 2,161 
Total antidilutive securities6,430 20,034 13,396 
v3.24.1
Employee Benefit Plan
 12 Months Ended
Jan. 31, 2024
Postemployment Benefits [Abstract]  
Employee Benefit Plan Employee Benefit PlanWe have a qualified defined contribution plan under Section 401(k) of the Internal Revenue Code (the “Plan”). This Plan covers substantially all employees who meet minimum age and service requirements and allows participants to defer a portion of their annual compensation on a pre-tax basis. In the fourth quarter of fiscal 2019, we began to match 50% of each participant’s contribution up to a maximum of 6% of the participant’s base salary and commissions paid during the period. During the year ended January 31, 2024, 2023 and 2022, we recognized expenses of $33.2 million, $32.3 million and $25.5 million related to matching contributions.
v3.24.1
Income Taxes
 12 Months Ended
Jan. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The domestic and foreign components of pre-tax income (loss) were as follows:
Year Ended January 31,
(in thousands)202420232022
U.S.$54,551 $19,673 $(93,356)
International39,128 (109,554)26,442 
Income (loss) before income taxes$93,679 $(89,881)$(66,914)
The components of our income tax provision were as follows:
Year Ended January 31,
(in thousands)202420232022
Current
Federal$6,390 $(464)$(931)
State2,018 1,666 (108)
Foreign4,974 4,674 3,407 
Total current13,382 5,876 2,368 
Deferred
Federal21 21 213 
State2 (21)184 
Foreign6,294 1,697 297 
Total deferred6,317 1,697 694 
Provision for income taxes$19,699 $7,573 $3,062 

The reconciliation of the statutory federal income tax rate to our effective tax rate was as follows:
Year Ended January 31,
(in percentage)202420232022
U.S. statutory rate21.0 %21.0 %21.0 %
State taxes2.4 (2.4)2.1 
Foreign tax rate differential37.9 16.4 (3.4)
Foreign-derived intangible income deduction(11.7)— — 
Stock-based compensation81.8 (55.1)309.6 
Change in valuation allowance(102.5)(35.5)(386.4)
Dual Jurisdiction Deferred Taxes36.0 39.2 — 
Research and development credits(46.0)20.1 58.2 
Lapse of Statute of Limitations(0.2)0.6 1.4 
Other deferred adjustment(1.2)(10.7)(9.9)
Other3.5 (2.0)2.8 
Effective tax rate21.0 %(8.4)%(4.6)%
The significant components of net deferred tax balances were as follows:
January 31,
(in thousands)20242023
Deferred tax assets
Net operating loss carryforwards$570,152 $711,532 
Accruals and reserves14,895 18,330 
Stock-based compensation39,320 49,615 
Research and development credits147,959 118,183 
Capitalized research and development expenses246,945 204,501 
Other53,140 55,087 
Total deferred tax assets1,072,411 1,157,248 
Less: Valuation allowance(934,816)(1,032,016)
Deferred tax assets, net of valuation allowance137,595 125,232 
Deferred tax liabilities
Deferred contract acquisition costs(100,806)(103,185)
Other(51,500)(30,646)
Total deferred tax liabilities(152,306)(133,831)
Net deferred tax liabilities$(14,711)$(8,599)

We intend to invest substantially all of our foreign subsidiary earnings, as well as our capital in our foreign subsidiaries, indefinitely outside of the U.S. in those jurisdictions in which we would incur significant additional costs upon repatriation of such amounts. We concluded any book/tax outside basis differences are not material to the consolidated financial statements as a whole as of and for the year ended January 31, 2024.
Recognized tax benefits on total stock-based compensation expense, which are reflected in the "Provision for income taxes" in the consolidated statements of operations and comprehensive income (loss), were $7.1 million, $3.3 million and $1.6 million in the years ended January 31, 2024, 2023 and 2022, respectively. Our tax provision includes a $3.8 million tax shortfall, $2.2 million tax shortfall and $1.9 million of excess tax benefits from stock-based compensation for the years ended January 31, 2024, 2023 and 2022, respectively.

As of January 31, 2024, we had accumulated net operating loss carryforwards of $2.2 billion for federal and $1.2 billion for state. Of the federal net operating losses, $2.2 billion is carried forward indefinitely, but is limited to 80% of taxable income. The remaining federal and state net operating loss carryforwards will begin to expire in 2027 and 2024, respectively. As of January 31, 2024, we also had total foreign net operating loss carryforwards of $152.5 million, which do not expire under local law.

As of January 31, 2024, we had accumulated U.S. research tax credits of $153.7 million for federal and $52.3 million for California. The U.S. federal research tax credits will begin to expire in 2033. The California research tax credits do not expire.

Available net operating losses may be subject to annual limitations due to ownership change limitations provided by the Internal Revenue Code, as amended (the "Code"), and similar state provisions. Under Section 382 of the Code, substantial changes in our ownership and the ownership of acquired companies may limit the amount of net operating loss carryforwards that are available to offset taxable income. Our ability to carry forward our federal and state net operating losses is limited due to an ownership change that occurred in a prior fiscal year. This limitation has been accounted for in calculating the available net operating loss carryforwards. The foreign jurisdictions in which we operate may have similar provisions that may limit our ability to use net operating loss carryforwards incurred by entities that we have acquired. Additional limitations on the use of these tax attributes could occur in the event of possible disputes arising in examination from various taxing authorities.
A reconciliation of the beginning and ending balance of total unrecognized tax benefits was as follows:
January 31,
(in thousands)20242023
Unrecognized tax benefits balance at February 1$47,946 $46,729 
Gross increase for tax positions of prior years4,368 333 
Gross decrease for tax positions of prior years(156)(1,734)
Settlements— (2,484)
Gross increase for tax positions of current year8,586 5,102 
Unrecognized tax benefits balance at January 31$60,744 $47,946 

As of January 31, 2024, the Company had $60.7 million of unrecognized tax benefits, of which $11.0 million could affect the Company’s effective tax rate, if recognized. The remainder of the unrecognized tax benefits would not affect the effective tax rate due to a significant portion of the unrecognized tax benefit being recorded as a reduction in our gross deferred tax asset, offset by a reduction in our valuation allowance. We have aggregate net uncertain tax positions of $12.3 million, $11.3 million and $16.2 million included in Other liabilities—noncurrent on our consolidated balance sheet as of January 31, 2024, 2023 and 2022.

We do not expect our gross unrecognized tax benefit to change significantly within the next 12 months. We recognize interest and penalties related to uncertain tax positions in provision for income taxes. As of January 31, 2024, accrued interest and penalties was $1.3 million.

We are subject to taxation in the U.S. and various foreign jurisdictions. Our tax years from inception in 2003 through January 31, 2024 remain subject to examination by U.S. and California taxing authorities, as well as taxing authorities in various other state and foreign jurisdictions. We are not under examination in any material jurisdictions.

We recognize valuation allowances on deferred tax assets if it is more likely than not that some or all the deferred tax assets will not be realized. Due to our history of losses in the U.S., the net cumulative U.S. deferred tax assets have been fully offset by a valuation allowance. The valuation allowance decreased by $97.2 million in the year ended January 31, 2024 and increased by $32.8 million in the year ended January 31, 2023.

The following table represents the rollforward of our valuation allowance:
Year Ended January 31,
(in thousands)202420232022
Beginning balance$1,032,016 $999,191 $723,767 
Valuation allowance charged to income tax provision(97,200)32,825 256,017 
Adoption of ASU 2020-06— — 19,407 
Ending balance$934,816 $1,032,016 $999,191 
v3.24.1
Geographic Information
 12 Months Ended
Jan. 31, 2024
Segment Reporting [Abstract]  
Geographic Information Geographic Information
We operate in one operating segment and one reportable segment as we only report financial information on an aggregate and consolidated basis to the Chief Executive Officer, who is our CODM.

Revenue by geography is based on the address of the customer as specified in our master subscription agreement. Revenue by geographic area was as follows:
Year Ended January 31,
(in thousands)202420232022
U.S.$2,032,950 $1,895,932 $1,625,966 
International728,932 619,983 481,247 
Total revenue$2,761,882 $2,515,915 $2,107,213 

No single country other than the U.S. had revenue greater than 10% of total revenue in the years ended January 31, 2024, 2023 and 2022.
Our long-lived assets by geographic area, which consist of property and equipment, net and operating lease right-of-use assets were as follows:
January 31,
(in thousands)20242023
U.S.$296,609 $266,328 
Ireland39,899 44,019 
All other countries31,853 31,038 
Total long-lived assets$368,361 $341,385 
v3.24.1
Subsequent Events
 12 Months Ended
Jan. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On February 6, 2024, we announced a restructuring plan (“2025 Restructuring Plan”) that was designed to strengthen and support our financial and operational efficiency while continuing to invest in product and related initiatives. As part of the 2025 Restructuring Plan, we expect to restructure and reduce our current workforce by approximately 6%, with the majority in our Sales & Marketing organizations. We currently estimate that we will incur charges of approximately $28 million to $32 million in connection with the 2025 Restructuring Plan, consisting primarily of cash expenditures for employee transition, notice period and severance payments, employee benefits, and related costs as well as non-cash expenses related to vesting of share-based awards. We expect that the majority of the restructuring charges will be incurred in the first quarter of fiscal 2025, and that the execution of the 2025 Restructuring Plan will be substantially complete by the end of the second quarter of fiscal 2025.
v3.24.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Pay vs Performance Disclosure      
Net income (loss) $ 73,980 $ (97,454) $ (69,976)
v3.24.1
Insider Trading Arrangements
 3 Months Ended
Jan. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.1
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Jan. 31, 2024
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation and Principles of Consolidation
Our consolidated financial statements include those of DocuSign, Inc. and our subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The accompanying consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”). Our fiscal year ends on January 31. References to fiscal 2024, for example, are to the fiscal year ended January 31, 2024.
Principles of Consolidation
Basis of Presentation and Principles of Consolidation
Our consolidated financial statements include those of DocuSign, Inc. and our subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The accompanying consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”). Our fiscal year ends on January 31. References to fiscal 2024, for example, are to the fiscal year ended January 31, 2024.
Use of Estimates
Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions in the consolidated financial statements and notes thereto.

Significant items subject to such estimates and assumptions made by management include, but are not limited to, the determination of:
•the average period of benefit associated with deferred contract acquisition costs and fulfillment costs;
•the fair value of certain stock awards issued;
•the fair value of convertible notes;
•the useful life and recoverability of long-lived assets;
•the discount rate used for operating leases;
•the recognition and measurement of loss contingencies; and
•the recognition, measurement and valuation of deferred income taxes.
Concentration of Credit Risk
Concentration of Credit Risk

Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash, cash equivalents, marketable securities and accounts receivable. Although we deposit our cash with multiple financial institutions, the deposits, at times, may exceed federally insured limits. We have not experienced any losses on our deposits of cash and cash equivalents. Cash equivalents consist of money market funds, which are invested through financial institutions in the U.S. Management believes that the institutions are financially stable and, accordingly, minimal credit risk exists.

No customer individually accounted for more than 10% of our revenues in the years ended January 31, 2024, 2023, and 2022 or for more than 10% of our accounts receivable as of January 31, 2024 and 2023. We perform ongoing credit evaluations of our customers, do not require collateral and maintain allowances for potential credit losses on customers’ accounts using the expected loss model.
Revenue Recognition
Revenue Recognition

We recognize revenue when a customer obtains control of promised services. We apply significant judgment in identifying and evaluating any terms and conditions in contracts which may impact revenue recognition. The amount of revenue recognized reflects the consideration that we expect to be entitled to receive in exchange for these services. To achieve the core principle of this standard, we apply the following steps:
1. Identification of the contract, or contracts, with the customer

We consider the terms and conditions of the contract and our customary business practices in identifying our contracts under ASC 606. We determine we have a contract with a customer when the contract is approved, we can identify each party’s rights regarding the services to be transferred, we can identify the payment terms for the services, we have determined the customer has the ability and intent to pay and the contract has commercial substance. At contract inception we evaluate whether two or more contracts should be combined and accounted for as a single contract and whether the combined or single contract includes more than one performance obligation. We apply judgment in determining the customer’s ability and intent to pay, which is based on a variety of factors, including the customer’s historical payment experience or, in the case of a new customer, credit and financial information pertaining to the customer.

2. Identification of the performance obligations in the contract

Performance obligations promised in a contract are identified based on the services and the products that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the 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 services and the products is separately identifiable from other promises in the contract. Our performance obligations consist of (i) subscription services, (ii) professional services, (iii) on-premises solutions, and (iv) maintenance and support for on-premises solutions.

3. Determination of the transaction price

The transaction price is determined based on the consideration to which we expect to be entitled in exchange for transferring services to the customer. Variable consideration is included in the transaction price if, in our judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. None of our contracts contain a significant financing component.

4. Allocation of the transaction price to the performance obligation in the contract

If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price ("SSP").

5. Recognition of the revenue when, or as, we satisfy a performance obligation

Revenue is recognized at the time the related performance obligation is satisfied by transferring the control of the promised service to a customer. Revenue is recognized as control of the service is transferred to the customer, in an amount that reflects the consideration that we expect to receive in exchange for those services. We generate all our revenue from contracts with customers.

Subscription Revenue

We generate revenue primarily from sales of subscriptions to access our software platform and related subscriptions of our customers. Our subscription revenue is driven by our go-to-market model, which includes a combination of direct sales, partner-assisted sales and web-based self-service purchasing. Subscription arrangements with customers do not provide the customer with the right to take possession of our software operating platform at any time. Instead, customers are granted continuous access to our software platform over the contractual period. A time-elapsed method is used to measure progress because we transfer control evenly over the contractual period. Accordingly, the fixed consideration related to subscription revenue is generally recognized on a straight-line basis over the contract term beginning on the date access to our software platform is provided.

Professional Services and Other Revenue

Professional services and other revenue consists of fees associated with consulting and training services from assisting customers in implementing and expanding the use of our software platform. These services are generally distinct from subscription services. Professional services do not result in significant customization of the subscription service. Revenue from professional services provided on a time and materials basis is recognized as the services are performed. Other revenue includes amounts derived from the sale of our on-premises solutions, which are recognized upon passage of control, which occurs upon shipment of the product. The maintenance and support on the on-premises solutions is a stand-ready obligation to perform this service over the term of the arrangement and, as a result, is accounted for ratably over the term of the arrangement.
Contracts with Multiple Performance Obligations

Most of our contracts with customers contain multiple performance obligations that are distinct and accounted for separately. The transaction price is allocated to the separate performance obligations on a relative SSP basis. We determine SSP for our performance obligations based on our observable inputs, such as standalone sales and historical contract pricing. SSP is consistent with our overall pricing objectives, taking into consideration the type of subscription services and professional and other services.

Variable Consideration

Revenue from sales is recorded at the net sales price, which is the transaction price, and includes estimates of variable consideration. The amount of variable consideration that is included in the transaction price is constrained and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue will not occur when the uncertainty is resolved.
If our services do not meet certain service level commitments, our customers are entitled to receive service credits, and in certain cases, refunds, each representing a form of variable consideration. We have historically not experienced any significant incidents affecting the defined levels of reliability and performance as required by our subscription contracts.
Deferred Contract Fulfillment Costs

We capitalize third-party costs to fulfill contracts with a customer in “Prepaid expenses and other current assets” and “Other assets—noncurrent” on our consolidated balance sheets. We amortize these costs on a straight-line basis consistent with the ratable revenue recognition of the performance obligations in the associated contracts.

Cost of Revenue

“Subscription” cost of revenue primarily consists of personnel and related costs to support our software platform, amortization expense associated with capitalized internally-developed software and technology-related intangible assets, property and equipment depreciation, allocated overhead expenses, merchant processing fees and server hosting costs.
“Professional services and other” cost of revenue consists primarily of personnel costs for our professional services delivery team, travel-related costs and allocated overhead.
Deferred Contract Acquisition Costs
Deferred Contract Acquisition Costs

We capitalize sales commissions, certain parts of the company bonus and associated payroll taxes paid to internal sales personnel that are incremental to the acquisition of customer contracts as deferred contract acquisition costs in "Prepaid expenses and other current assets" and "Deferred contract acquisition costs—noncurrent" on our consolidated balance sheets. We determine whether costs should be deferred based on our sales compensation plans, if the commissions are in fact incremental and would not have occurred absent the customer contract.

These deferred commissions are amortized on a straight-line basis over the periods of benefit, commensurate with the pattern of revenue recognition. Commissions paid for renewal of a subscription contract are not considered commensurate with the commissions paid for the acquisition of the initial subscription contract given the substantive difference in commission rates between new and renewal contracts. The period of benefit for commissions paid for the acquisition of the initial subscription contract, of five years, is determined by taking into consideration our initial estimated customer life and the technological life of our software platform and related significant features. The period of benefit for renewal subscription contracts, of two years, is determined by the weighted average contractual term for renewal contracts.

Commissions paid on professional services contracts are amortized over the period of benefit, being the period the associated revenue is earned as the commissions paid on new and renewal professional services contracts are commensurate with each other.

Amortization of deferred contract acquisition costs is primarily included in the “Sales and marketing” expense in the consolidated statements of operations and comprehensive income (loss).
We periodically review these deferred costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit of these deferred contract acquisition costs.
Advertising
Advertising
Advertising costs are expensed as incurred and are included in “Sales and marketing” expense in our consolidated statements of operations and comprehensive income (loss).
Research and Development
Research and Development

Research and development costs are expensed as incurred and consist primarily of personnel costs, including salaries, bonuses and benefits, and stock-based compensation.
Stock-Based Compensation
Stock-Based Compensation

Compensation cost for stock-based awards issued to employees, including stock options, ESPP purchase rights and RSUs, is measured at fair value on the date of grant and recognized over the service period, generally on a straight-line basis.

The fair value of stock options and ESPP purchase rights is estimated on the date of grant using a Black-Scholes option-pricing model. The fair value of RSUs is estimated on the date of grant based on the fair value of our underlying common stock. From time to time, we grant RSUs that also include performance-based or market-based conditions. For RSUs granted with a market condition, we use a Monte Carlo option-pricing model to determine the fair value of the RSUs.

Compensation expense for RSUs granted with a market or a performance condition is recognized on a graded vesting basis over the requisite service period. The amount of compensation expense related to the RSUs granted with a performance condition is determined after assessing the probability of achieving requisite performance criteria.

We recognize compensation expense related to shares issued pursuant to the 2018 ESPP on a straight-line basis over the offering period of six months.

Compensation expense is recognized net of forfeitures that are estimated at the time of grant and revised in subsequent periods if actual forfeitures differ from those estimates.

We capitalize stock-based compensation costs incurred as a result of qualifying internally-developed software development activities.

We may elect to issue shares on the settlement dates net of the statutory tax withholding requirements to be paid by us on behalf of our employees. In these instances, we record the liability for withholding amounts to be paid by us as treasury stock or as a reduction to additional paid-in capital, and include these payments as a reduction of cash flows from financing activities.
Restructuring charges
Restructuring charges

Restructuring liabilities arise when management commits to a restructuring plan, the restructuring plan identifies all significant actions, the period of time to complete the restructuring plan indicates that significant changes to the plan are not likely and employees who are impacted have been notified of the pending involuntary termination. Restructuring charges are accrued in the period in which it is probable that the employees are entitled to the restructuring benefits and the amounts can be reasonably estimated.
Income Taxes
Income Taxes
We use the asset and liability method of accounting for income taxes. Under this method, income tax expense is recognized for the amount of taxes payable or refundable for the current year. In addition, deferred tax assets and liabilities are recognized for expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, and for operating losses and tax credit carryforwards. We record a valuation allowance to reduce our deferred tax assets to an amount for which realization is more likely than not.
Foreign Currency
Foreign Currency

The functional currency of our foreign entities and branches is generally the local currency. Monetary assets and liabilities and transactions denominated in currencies other than an entity's functional currency are remeasured into its functional currency using current exchange rates at each balance sheet date. Nonmonetary assets and liabilities are not remeasured. We recognize gains and losses from such adjustments within “Interest income and other income, net” in the consolidated statements of operations and comprehensive income (loss) in the period of occurrence.

We present our financial statements in U.S. dollars. Adjustments resulting from translating foreign functional currency financial statements into U.S. dollars are recorded as a separate component on our consolidated statements of comprehensive income (loss), net of tax. All assets and liabilities denominated in a foreign currency are translated at the exchange rate on the balance sheet date. Revenues and expenses are translated at the average exchange rate during the period. Equity transactions are translated using the historical exchange rate.
Net Income (Loss) Per Share Attributable to Common Stockholders
Net Income (Loss) Per Share Attributable to Common Stockholders

In periods when we have net income, we compute basic and diluted net income per share in conformity with the two-class method required for participating securities. The undistributed earnings are allocated between common stock and participating securities as if all earnings had been distributed during the period presented.

Basic net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share attributable to common stockholders is computed by giving effect to all potential shares of common stock, including shares underlying our convertible senior notes, unvested stock awards, outstanding stock options, ESPP purchase rights, convertible preferred stock, and warrants to purchase common stock and convertible preferred stock, to the extent they are dilutive. The dilutive potential shares of common stock are computed using the treasury stock method or the as-if converted method, as applicable.

For periods presented in which we have reported net losses, dilutive common shares are not assumed to have been issued as their effect would have been antidilutive. Therefore, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders.
Cash and Cash Equivalents
Cash and Cash Equivalents

Cash and cash equivalents consist of money market funds, highly liquid investments with original maturities of three months or less at the date of purchase and deposits with financial institutions and are carried at fair value.
Investments and Strategic Investments
Investments

Investments in marketable securities consist of commercial paper, corporate notes and bonds, municipal notes and bonds, as well as U.S. Treasury and government agency securities. Management determines the appropriate classification of investments at the time of purchase and reevaluates such determination at each balance sheet date. Marketable securities are classified as available-for-sale and are carried at fair value in the consolidated balance sheet and are classified as short-term or long-term based on their remaining contractual maturities.

We evaluate our investments with unrealized loss positions at the individual security level to determine whether the unrealized loss was related to credit or noncredit factors. We consider whether a credit loss exists based on the extent of the unrealized loss position, any adverse conditions specifically related to the security or the issuer's operating environment, pay structure of the security, the issuer's payment history and any changes in the issuer's credit rating. Estimated credit losses are determined using a discounted cash flow model and recorded as an allowance, with changes in expected credit losses on our investments recorded in “Interest income and other income, net” in the consolidated statements of operations and comprehensive loss. Unrealized gains and losses related to noncredit factors are reflected in “Accumulated other comprehensive loss” on the consolidated balance sheets.
Strategic Investments

Our strategic investments consist of non-marketable equity investments in privately-held companies and investment companies in which we do not have a controlling interest or significant influence. We have elected to apply the measurement alternative for equity investments in privately-held companies that do not have readily determinable fair values, measuring them at cost, less any impairment, plus or minus adjustments resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. We have elected to measure our equity investments in investment companies that do not have readily determinable fair values based on the investment’s net asset value. An impairment loss is recorded when an event or circumstance indicates a decline in value has occurred.
Restricted Cash
Restricted Cash

Restricted cash consists primarily of certificates of deposits collateralizing our operating lease agreements for office space and cash withheld from employees to fund claims and program expenses related to the Voluntary Disability Plans in California.
Fair Value of Financial Instruments
Fair Value of Financial Instruments

We measure assets and liabilities at fair value based on an expected exit price, which represents the amount that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability. The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value:
Level 1Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
Level 2Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.
Level 3Unobservable inputs reflecting our own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available
Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the placement of assets and liabilities being measured within the fair value hierarchy.

The carrying values of cash, accounts receivable and accounts payable approximate their respective fair values due to the short period of time to maturity, receipt or payment.
Accounts Receivable and Credit Losses
Accounts Receivable and Credit Losses

Accounts receivable primarily consist of amounts billed currently due from customers. Our accounts receivable are subject to collection risk. Gross accounts receivable are reduced for this risk by an allowance for doubtful accounts. This allowance is for estimated losses resulting from the inability of our customers to make required payments. Our allowance for doubtful accounts includes balances that are specifically identified for adequacy based on a regular evaluation of such factors as age of the receivable balance, current economic conditions, credit quality of the customer, and past collection experience. We also include in our allowance for doubtful accounts an estimate for future credit losses, based on historical experience, which is recorded in the period in which we invoice our customers. We do not have any off-balance-sheet credit exposure related to our customers.
We do not typically offer right of refund in our contracts and do not require collateral from our customers.
Property and Equipment
Property and Equipment

Property and equipment, including costs incurred to bring to the location and condition necessary for intended use, are recorded at cost and depreciated over their estimated useful lives using the straight-line method and the following estimated useful lives:
Estimated Useful Life
Computer and network equipment
3 years
Software, including capitalized software development costs
3 - 5 years
Furniture and office equipment
3 - 4 years
Leasehold improvements
Lesser of lease term and 10 years

Disposals are removed at cost less accumulated depreciation, and any gain or loss from disposition is reflected in the statement of operations and comprehensive income (loss) in the year of disposition. Additions and improvements that increase the value or extend the life of an asset are capitalized. Maintenance and repairs are expensed as incurred.
Leases
Leases

Leases arise from contractual obligations that convey the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. We determine whether an arrangement is or contains a lease at inception, based on whether there is an identified asset and whether we control the use of the identified asset throughout the period of use. At lease commencement date, we determine lease classification between finance and operating, allocate the consideration to the lease and nonlease components and recognize a right-of-use asset and corresponding lease liability for each lease component. A right-of-use asset represents our right to use an underlying asset and a lease liability represents our obligation to make payments during the lease term.

The lease liability is initially measured as the present value of the remaining lease payments over the lease term. The discount rate used to determine the present value is our incremental borrowing rate unless the interest rate implicit in the lease is readily determinable. We estimate our 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 initial direct costs, prepaid lease payments to lessors and lease incentives.

We do not recognize right-of-use assets and liabilities for leases with a term of twelve months or less. Additionally, we do not separate nonlease components from the associated lease components for our office leases and certain other asset classes. The total consideration includes fixed payments and contractual escalation provisions. We are responsible for maintenance, insurance, property taxes and other variable payments, which are expensed as incurred. Our leases include options to renew or terminate. We include the option to renew or terminate in our determination of the lease term when the option is deemed to be reasonably certain to be exercised.

Operating leases are classified in “Operating lease right-of-use assets”, “Operating lease liabilities—current”, and “Operating lease liabilities—noncurrent” on our consolidated balance sheets. Operating lease expense is recognized on a straight-line basis over the expected lease term and included in “Income (loss) from operations” in our consolidated statements of operations and comprehensive income (loss). We did not have material finance leases for all periods presented.
Goodwill
Goodwill

Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business combinations accounted for using the acquisition method of accounting and is not amortized. We test goodwill for impairment at least annually, on November 1, or as events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Such events and changes may include: significant changes in performance relative to expected operating results, significant changes in asset use, significant negative industry or economic trends, and changes in our business strategy.
Our test for goodwill impairment starts with a qualitative assessment to determine whether it is necessary to perform the quantitative goodwill impairment test. If qualitative factors indicate that the fair value of the reporting unit is more likely than not less than its carrying amount, then a quantitative goodwill impairment test is performed. For the purposes of impairment testing, we have determined that we have one operating segment and one reporting unit. We performed a qualitative assessment for the fiscal year ended January 31, 2024, and concluded that it is more likely than not that the fair value of the reporting unit significantly exceeds its carrying value.
Intangible Assets
Intangible Assets

Intangible assets with finite lives are amortized using the straight-line method over their estimated useful lives. The estimated useful lives of intangible assets, estimated based on our expected period of benefit, are as follows:
Estimated Useful Life
Existing technology
3 - 5 years
Customer contracts & related relationships
5 - 10 years
Other(1)
1 - 5 years
(1)Includes certifications, maintenance contracts and related relationships, subscription backlog and tradenames and trademarks
We evaluate the estimated remaining useful lives of intangible assets and other long-lived assets to assess whether a revision to the remaining periods of amortization is required.
Impairment of Long-Lived Assets
Impairment of Long-Lived Assets
We review long-lived assets, including property and equipment and intangible assets, for impairment whenever events or changes in business circumstances indicate that the carrying amount of the asset group may not be fully recoverable. An impairment loss is recognized when estimated undiscounted future cash flows expected to result from the use of the asset and its eventual disposition are less than its carrying amount.
Software Development and Cloud Computing Arrangement Implementation Costs
Software Development and Cloud Computing Arrangement Implementation Costs

We capitalize qualifying internally-developed software development costs incurred during the application development stage, as long as it is probable the project will be completed and the software will be used to perform the function intended. Capitalization of such costs ceases once the project is substantially complete and ready for its intended use. Capitalized software development costs are included in “Property and equipment, net” on our consolidated balance sheets and are amortized on a straight-line basis over their expected useful lives of approximately three to five years.

We also capitalize qualifying implementation costs under cloud computing arrangements (“CCA”). Capitalization of such costs ceases once the software of the hosting arrangement is ready for its intended use. The CCA implementation costs balance was $64.8 million and $49.5 million as of January 31, 2024 and 2023, and is included in “Other assets—noncurrent” on our consolidated balance sheets and amortized on a straight-line basis over the term of the associated hosting arrangement.
Business Combinations
Business Combinations

We account for our acquisitions using the acquisition method of accounting, which requires, among other things, allocation of the fair value of purchase consideration to the tangible and intangible assets acquired and liabilities assumed at their estimated fair values on the acquisition date. The excess of the fair value of purchase consideration over the values of these identifiable assets and liabilities is recorded as goodwill.
Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain. During the measurement period, not to exceed one year from the date of acquisition, we may record adjustments to the assets acquired and liabilities assumed, with a corresponding offset to goodwill if new information is obtained related to facts and circumstances that existed as of the acquisition date. After the measurement period, any subsequent adjustments are reflected in the consolidated statements of operations and comprehensive income (loss).

Acquisition costs, such as legal and consulting fees, are expensed as incurred.
Segments
Segments

Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by our Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. Our Chief Executive Officer is our CODM. Our CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. As such, we have determined that we operate in one operating and one reportable segment.
Convertible Debt
Convertible Debt

Prior to February 1, 2021, we accounted for our convertible debt instruments as separate liability and equity components. We determined the carrying amount of the liability component as the present value of its cash flows using a discount rate based on comparable convertible transactions for similar companies. The carrying amount of the equity component representing the conversion option was calculated by deducting the fair value of the liability component from the principal amount of the convertible debt instruments as a whole.

This difference represented a debt discount that was amortized to interest expense over the term of the convertible debt instruments using the effective interest rate method. The equity component was not remeasured as long as it continued to meet the conditions for equity classification.

The transaction costs incurred related to the issuance of the convertible debt instruments were allocated to the liability and equity components based on their relative initial carrying value of the convertible debt instruments. Transaction costs attributable to the liability component were being amortized to interest expense over the respective terms of the convertible debt instruments, and transaction costs attributable to the equity component were netted against the equity component of the convertible debt instruments in stockholders’ equity.

Effective February 1, 2021, we account for our convertible debt instruments as a single liability measured at its amortized cost. At issuance, the carrying amount is calculated as the proceeds, net of initial purchasers’ discounts and transaction costs. The difference between the principal amount and carrying value is amortized to interest expense over the term of the convertible debt instruments using the effective interest rate method.

At settlement, the carrying amount of the liability is derecognized and the excess of the cash consideration, if any, over the carrying amount is recorded as a reduction to additional paid-in capital.

Capped calls entered into in connection with the offering of the convertible debt instruments are considered indexed to our own stock and are considered equity classified. They are recorded in stockholders’ equity and are not accounted for as derivatives. The cost incurred in connection with the capped calls was recorded as a reduction to additional paid-in capital. Subsequent unwinding of capped calls was recorded as an increase to cash and additional paid-in capital upon settlement.
Legal Contingencies
Legal Contingencies
We evaluate contingent liabilities including threatened or pending litigation and make provisions for such liabilities when it is both probable that a loss has been incurred and its amount can be reasonably estimated. We periodically assess the likelihood of any adverse judgments or outcomes from potential claims or legal proceedings, as well as potential ranges of probable losses, when the outcomes of the claims or proceedings are probable and reasonably estimable. A determination of the amount of the liabilities required, if any, for these contingencies is made after the analysis of each separate matter.
Recent Accounting Pronouncements
Recent Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which enhances disclosures required for operating segments. ASU 2023-07 expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. All disclosure requirements of ASU 2023-07 are required for entities with a single reportable segment. ASU 2023-07 is effective for the Company’s fiscal year beginning February 1, 2024, and interim periods for the fiscal year beginning February 1, 2025, and should be applied on a retrospective basis to all periods presented. We are currently evaluating the effect of adopting ASU 2023-07 on our financial statement disclosures.

In December 2023, the FASB issued Accounting Standards Update 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), amending existing income tax disclosure guidance, primarily requiring more detailed disclosure for income taxes paid and the effective tax rate reconciliation. ASU 2023-09 is effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted and can be applied on either a prospective or retrospective basis. We are currently evaluating the effect of adopting ASU 2023-09 on our income tax disclosures.

We have not adopted accounting pronouncements during the year ended January 31, 2024.
v3.24.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jan. 31, 2024
Accounting Policies [Abstract]  
Schedule of Cash, Cash Equivalents
The following table illustrates the reconciliation of cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows as of January 31, 2024, 2023, and 2022:
January 31,
(in thousands)202420232022
Cash and cash equivalents$797,060 $721,895 $509,059 
Restricted cash included in prepaid expense and other current assets1,332 37 280 
Restricted cash included in other assets - noncurrent3,107 1,269 340 
Total cash, cash equivalents, and restricted cash$801,499 $723,201 $509,679 
Schedule of Restricted Cash
The following table illustrates the reconciliation of cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows as of January 31, 2024, 2023, and 2022:
January 31,
(in thousands)202420232022
Cash and cash equivalents$797,060 $721,895 $509,059 
Restricted cash included in prepaid expense and other current assets1,332 37 280 
Restricted cash included in other assets - noncurrent3,107 1,269 340 
Total cash, cash equivalents, and restricted cash$801,499 $723,201 $509,679 
Summary of Property, Plant and Equipment Useful Lives
Property and equipment, including costs incurred to bring to the location and condition necessary for intended use, are recorded at cost and depreciated over their estimated useful lives using the straight-line method and the following estimated useful lives:
Estimated Useful Life
Computer and network equipment
3 years
Software, including capitalized software development costs
3 - 5 years
Furniture and office equipment
3 - 4 years
Leasehold improvements
Lesser of lease term and 10 years
Summary of Finite-Lived Intangible Assets Estimated Useful Lives The estimated useful lives of intangible assets, estimated based on our expected period of benefit, are as follows:
Estimated Useful Life
Existing technology
3 - 5 years
Customer contracts & related relationships
5 - 10 years
Other(1)
1 - 5 years
(1)Includes certifications, maintenance contracts and related relationships, subscription backlog and tradenames and trademarks
v3.24.1
Fair Value Measurements (Tables)
 12 Months Ended
Jan. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table summarizes our financial assets that are measured at fair value on a recurring basis:
January 31, 2024
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Level 1:
Cash equivalents(1)
Money market funds$298,517 $— $— $298,517 
Level 2:
Cash equivalents(1)
Commercial paper43,845 — (9)43,836 
U.S. government agency securities9,968 — (1)9,967 
Available-for-sale securities
Commercial paper42,958 2 (25)42,935 
Corporate notes and bonds299,166 262 (670)298,758 
U.S. governmental securities28,752 — (66)28,686 
Level 2 total424,689 264 (771)424,182 
Total$723,206 $264 $(771)$722,699 


January 31, 2023
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Level 1:
Cash equivalents(1)
Money market funds$133,009 $— $— $133,009 
Level 2:
Cash equivalents(1)
Commercial paper9,992 — (2)9,990 
Available-for-sale securities
Commercial paper85,957 — (258)85,699 
Corporate notes and bonds367,930 101 (3,771)364,260 
Municipal notes and bonds7,983 — (65)7,918 
U.S. governmental securities38,344 4 (405)37,943 
Level 2 total510,206 105 (4,501)505,810 
Total$643,215 $105 $(4,501)$638,819 
(1)Included in "cash and cash equivalents" in our consolidated balance sheets as of January 31, 2024 and 2023, in addition to cash of $444.8 million and $578.9 million
Schedule of Fair Value of Available-for-sale Marketable Securities by Remaining Contractual Maturities
The fair value of our available-for-sale securities as of January 31, 2024, by remaining contractual maturities, were as follows (in thousands):
Due in one year or less$248,402 
Due in one to two years121,977 
$370,379 
Schedule of Convertible Senior Notes
(in thousands)January 31, 2023
0.5% Convertible Senior Notes due in 2023
Aggregate principal amount $37,083 
Fair value amount38,981 
0.0% Convertible Senior Notes due in 2024
Aggregate principal amount$690,000 
Fair value amount655,666 
v3.24.1
Property and Equipment, Net (Tables)
 12 Months Ended
Jan. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment
Property and equipment, net consisted of the following:
January 31,
(in thousands)20242023
Computer and network equipment$142,241 $138,869 
Software, including capitalized software development costs168,584 114,524 
Furniture and office equipment18,196 20,897 
Leasehold improvements58,230 73,415 
387,251 347,705 
Less: Accumulated depreciation(244,270)(210,781)
142,981 136,924 
Work in progress102,192 62,968 
$245,173 $199,892 
v3.24.1
Goodwill and Intangible Assets, Net (Tables)
 12 Months Ended
Jan. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill
The changes in the carrying amount of goodwill were as follows (in thousands):
Balance at January 31, 2022$355,058 
Foreign currency translation(1,439)
Balance at January 31, 2023353,619 
Foreign currency translation(481)
Balance at January 31, 2024$353,138 
Schedule of Intangible Assets
Intangible assets consisted of the following:
As of January 31, 2024As of January 31, 2023
(in thousands, except years)Weighted-average Remaining Useful Life (Years)Acquisition-related Intangibles, GrossAccumulated AmortizationAcquisition-related Intangibles, NetAcquisition-related Intangibles, GrossAccumulated AmortizationAcquisition-related Intangibles, Net
Existing technology1.3$76,194 $(65,777)$10,417 $76,194 $(56,920)$19,274 
Customer contracts & related relationships5.1110,082 (60,947)49,135 110,082 (50,429)59,653 
Other0.022,534 (22,534)— 22,534 (22,534)— 
4.4$208,810 $(149,258)59,552 $208,810 $(129,883)78,927 
Cumulative translation adjustment(8,647)(8,647)
Total$50,905 $70,280 
Schedule of Amortization of Finite-Lived Intangible Assets
Amortization of finite-lived intangible assets was as follows:
Year Ended January 31,
(in thousands)202420232022
Cost of subscription revenue$8,857 $9,613 $11,670 
Sales and marketing10,518 11,093 13,100 
Total$19,375 $20,706 $24,770 
Schedule of Future Amortization of Finite-Lived Intangibles
As of January 31, 2024, future amortization of finite-lived intangible assets that will be recorded in cost of revenue and operating expenses is estimated as follows, excluding cumulative translation adjustment:
Fiscal PeriodAmount
(in thousands)
2025$18,798 
202612,655 
202710,518 
20288,058 
20294,311 
Thereafter5,212 
Total$59,552 
v3.24.1
Deferred Contract Acquisition and Fulfillment Costs (Tables)
 12 Months Ended
Jan. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Deferred Contract Acquisitions Costs
The following table represents a rollforward of our deferred contract acquisition and fulfillment costs:
Year Ended January 31,
(in thousands)20242023
Deferred Contract Acquisition Costs
Beginning balance$355,389 $315,158 
Additions to deferred contract acquisition costs209,353 179,898 
Amortization of deferred contract acquisition costs(155,807)(134,964)
Cumulative translation adjustment723 (4,703)
Ending balance$409,658 $355,389 
Deferred Contract Fulfillment Costs
Beginning balance$21,076 $19,088 
Additions to deferred contract fulfillment costs45,806 52,417 
Amortization of deferred contract fulfillment costs(44,356)(50,081)
Cumulative translation adjustment(1)(348)
Ending balance$22,525 $21,076 
v3.24.1
Debt (Tables)
 12 Months Ended
Jan. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Carrying Value of Liability Component The net carrying amounts of the Notes were as follows:
January 31,
(in thousands)20242023
2023 Notes (effective interest rate of 5.9%):
Principal$575,000 $575,000 
Less: extinguishment or conversion(575,000)(537,917)
Unpaid principal— 37,083 
Less: unamortized transaction costs— (118)
Net carrying value of liability component$— $36,965 
Excess of if-converted value over principal$— $— 
2024 Notes (effective interest rate of 3.8%):
Principal$690,000 $690,000 
Less: extinguishment or conversion(690,000)— 
Unpaid principal— 690,000 
Less: unamortized transaction costs— (4,078)
Net carrying value of liability component$— $685,922 
Excess of if-converted value over principal$— $— 

Interest expense recognized related to the Notes was as follows:
Year Ended January 31,
(in thousands)202420232022
Contractual interest expense$425 $185 $168 
Amortization of transaction costs4,197 4,415 4,544 
Total$4,622 $4,600 $4,712 
v3.24.1
Leases (Tables)
 12 Months Ended
Jan. 31, 2024
Leases [Abstract]  
Schedule of Future Lease Payments
Future lease payments under operating leases as of January 31, 2024, were as follows:
Fiscal Period:Amount (in thousands)
2025$28,350 
202623,407 
202721,064 
202817,044 
202914,526
Thereafter69,278 
Total undiscounted cash flows$173,669 
Less: imputed interest(30,616)
Present value of lease liabilities$143,053 
v3.24.1
Commitments and Contingencies (Tables)
 12 Months Ended
Jan. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Noncancelable Contractual Obligations As of January 31, 2024, our future noncancelable minimum payments due under these contractual obligations with a remaining term of more than one year were as follows:
Fiscal Period:Amount (in thousands)
2025$62,266 
202654,399 
20278,318 
20281,663 
20291,138 
Thereafter484 
Total$128,268 
v3.24.1
Stockholders' Equity (Tables)
 12 Months Ended
Jan. 31, 2024
Equity [Abstract]  
Summary of Share of Common Stock Reserved For Future Issuance
We have reserved the following shares of common stock, on an as-if converted basis, for future issuance as follows:
January 31,
(in thousands)20242023
RSUs outstanding26,965 17,801 
Options issued and outstanding1,385 2,228 
Remaining shares available for future issuance under the Equity Incentive Plans35,663 39,538 
Remaining shares available for future issuance under the ESPP10,628 9,447 
Total shares of common stock reserved74,641 69,014 
Summary of Share-based Compensation, Activity
Shares available for grant under the 2018 Plan for the year ended January 31, 2024 was as follows:
(in thousands)Year Ended
January 31, 2024
Available at beginning of fiscal year39,538 
Awards authorized10,095 
Shares granted(19,573)
Shares canceled/expired2,888 
Shares withheld for taxes2,715 
Available at end of fiscal year35,663 
Summary of RSU Activity
RSU activity for the year ended January 31, 2024 was as follows:
(in thousands, except per share data)Number of UnitsWeighted-Average Grant Date Fair Value
Unvested at January 31, 202317,621 $81.30 
Granted19,573 54.15 
Vested(7,609)83.03 
Canceled(2,885)83.30 
Unvested at January 31, 202426,700 $60.70 
Summary of Valuation Assumptions
We calculated the fair value of the RSU with market conditions using Monte Carlo option-pricing model based on the following assumptions:

Year Ended January 31,
202420232022
Risk-free interest rate4.12 %
3.21% - 4.42%
0.30 %
Expected dividend yield— %— %— %
Expected life (in years)3.0
1.0 - 6.7
3.0
Expected volatility71 %
54% - 66%
46 %
Summary of Options Activity
Option activity for the year ended January 31, 2024 was as follows:
(in thousands, except per share data and years)Number of OptionsWeighted-Average Exercise Price Per ShareWeighted-Average Remaining Contractual Term (Years)Aggregate Intrinsic Value
Outstanding at January 31, 2023, all vested and exercisable2,228 $17.11 3.60$96,839 
Exercised(840)16.65 
Canceled/expired(3)17.48 
Outstanding at January 31, 2024, all vested and exercisable1,385 $17.39 2.63$60,117 
Summary of ESPP Valuation Assumptions
We calculated the fair value of the ESPP purchase right using the Black-Scholes option-pricing model, based on the following assumptions:
Year Ended January 31,
202420232022
Risk-free interest rate
4.93% - 5.59%
1.15% - 4.04%
0.04%-0.06%
Expected dividend yield— %— %— %
Expected life of purchase right (in years)0.50.50.5
Expected volatility
31% - 76%
83% - 102%
43% - 58%
v3.24.1
Restructuring and Other Related Charges (Tables)
 12 Months Ended
Jan. 31, 2024
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Liabilities Roll Forward
The following table summarizes our restructuring liabilities during the year ended January 31, 2024:

(in thousands)January 31, 2023AccrualsCash PaymentsJanuary 31, 2024
2023 Restructuring Plan
Employee termination benefits$384 $1,749 $(2,133)$— 
Other158 20 (178)— 
Total$542 $1,769 $(2,311)$— 
2024 Restructuring Plan
Employee termination benefits$— $21,837 $(21,837)$— 
Other— 1,554 (1,432)122 
Total$— $23,391 $(23,269)$122 
v3.24.1
Net Income (Loss) per Share Attributable to Common Stockholders (Tables)
 12 Months Ended
Jan. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Calculation of Basic and Diluted Net Income (Loss) Per Share Attributable to Common Stockholders
The following table presents the calculation of basic and diluted net income (loss) per share attributable to common stockholders for periods presented:
Year Ended January 31,
(in thousands, except per share data)202420232022
Numerator:
Net income (loss) attributable to common stockholders, basic$73,980 $(97,454)$(69,976)
Add: Interest expense on convertible senior notes425 — — 
Net income (loss) attributable to common stockholders, diluted$74,405 $(97,454)$(69,976)
Denominator:
Weighted-average common shares outstanding, basic204,070 200,903 196,675 
Effect of dilutive securities4,880 — — 
Weighted-average common shares outstanding, diluted208,950 200,903 196,675 
Net income (loss) per share attributable to common stockholders:
Basic$0.36 $(0.49)$(0.36)
Diluted$0.36 $(0.49)$(0.36)
Schedule of Antidilutive Securities
Outstanding potentially dilutive securities that were excluded from the diluted per share calculations because they would have been antidilutive are as follows:
January 31,
(in thousands)202420232022
RSUs6,430 15,129 7,843 
Stock options— 2,228 3,105 
ESPP— 516 287 
Convertible senior notes— 2,161 2,161 
Total antidilutive securities6,430 20,034 13,396 
v3.24.1
Income Taxes (Tables)
 12 Months Ended
Jan. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Components of Pre-Tax Income (Loss)
The domestic and foreign components of pre-tax income (loss) were as follows:
Year Ended January 31,
(in thousands)202420232022
U.S.$54,551 $19,673 $(93,356)
International39,128 (109,554)26,442 
Income (loss) before income taxes$93,679 $(89,881)$(66,914)
Schedule of Income Tax Provision
The components of our income tax provision were as follows:
Year Ended January 31,
(in thousands)202420232022
Current
Federal$6,390 $(464)$(931)
State2,018 1,666 (108)
Foreign4,974 4,674 3,407 
Total current13,382 5,876 2,368 
Deferred
Federal21 21 213 
State2 (21)184 
Foreign6,294 1,697 297 
Total deferred6,317 1,697 694 
Provision for income taxes$19,699 $7,573 $3,062 
Schedule of Reconciliation Federal Statutory Rate
The reconciliation of the statutory federal income tax rate to our effective tax rate was as follows:
Year Ended January 31,
(in percentage)202420232022
U.S. statutory rate21.0 %21.0 %21.0 %
State taxes2.4 (2.4)2.1 
Foreign tax rate differential37.9 16.4 (3.4)
Foreign-derived intangible income deduction(11.7)— — 
Stock-based compensation81.8 (55.1)309.6 
Change in valuation allowance(102.5)(35.5)(386.4)
Dual Jurisdiction Deferred Taxes36.0 39.2 — 
Research and development credits(46.0)20.1 58.2 
Lapse of Statute of Limitations(0.2)0.6 1.4 
Other deferred adjustment(1.2)(10.7)(9.9)
Other3.5 (2.0)2.8 
Effective tax rate21.0 %(8.4)%(4.6)%
Schedule of Components of Net Deferred Tax Balances
The significant components of net deferred tax balances were as follows:
January 31,
(in thousands)20242023
Deferred tax assets
Net operating loss carryforwards$570,152 $711,532 
Accruals and reserves14,895 18,330 
Stock-based compensation39,320 49,615 
Research and development credits147,959 118,183 
Capitalized research and development expenses246,945 204,501 
Other53,140 55,087 
Total deferred tax assets1,072,411 1,157,248 
Less: Valuation allowance(934,816)(1,032,016)
Deferred tax assets, net of valuation allowance137,595 125,232 
Deferred tax liabilities
Deferred contract acquisition costs(100,806)(103,185)
Other(51,500)(30,646)
Total deferred tax liabilities(152,306)(133,831)
Net deferred tax liabilities$(14,711)$(8,599)
Schedule of Total Unrecognized Tax Benefits
A reconciliation of the beginning and ending balance of total unrecognized tax benefits was as follows:
January 31,
(in thousands)20242023
Unrecognized tax benefits balance at February 1$47,946 $46,729 
Gross increase for tax positions of prior years4,368 333 
Gross decrease for tax positions of prior years(156)(1,734)
Settlements— (2,484)
Gross increase for tax positions of current year8,586 5,102 
Unrecognized tax benefits balance at January 31$60,744 $47,946 
Schedule of Valuation Allowance
The following table represents the rollforward of our valuation allowance:
Year Ended January 31,
(in thousands)202420232022
Beginning balance$1,032,016 $999,191 $723,767 
Valuation allowance charged to income tax provision(97,200)32,825 256,017 
Adoption of ASU 2020-06— — 19,407 
Ending balance$934,816 $1,032,016 $999,191 
v3.24.1
Geographic Information (Tables)
 12 Months Ended
Jan. 31, 2024
Segment Reporting [Abstract]  
Schedule of Revenues by Geographic Area Revenue by geographic area was as follows:
Year Ended January 31,
(in thousands)202420232022
U.S.$2,032,950 $1,895,932 $1,625,966 
International728,932 619,983 481,247 
Total revenue$2,761,882 $2,515,915 $2,107,213 
Schedule of Property and Equipment by Geographic Area
Our long-lived assets by geographic area, which consist of property and equipment, net and operating lease right-of-use assets were as follows:
January 31,
(in thousands)20242023
U.S.$296,609 $266,328 
Ireland39,899 44,019 
All other countries31,853 31,038 
Total long-lived assets$368,361 $341,385 
v3.24.1
Summary of Significant Accounting Policies - Narrative (Details)
 12 Months Ended
Jan. 31, 2024
USD ($)
segment
reporting_unit
Jan. 31, 2023
USD ($)
Jan. 31, 2022
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Advertising expense $ 95,000,000 $ 128,300,000 $ 115,700,000
Equity investments in privately held companies $ 13,200,000 12,500,000  
Number of operating segments | segment 1    
Number of reporting units | reporting_unit 1    
Impairment of goodwill   0 0
Operating lease, impairment loss $ 0 0 $ 5,100,000
CCA implementation cost $ 64,800,000 $ 49,500,000  
Number of reportable segments | segment 1    
ESPP      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
ESPP offering period 6 months    
Initial Acquisition Of Contract      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Commissions paid, amortization period 5 years    
Renewal Contracts      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Commissions paid, amortization period 2 years    
Software, including capitalized software development costs | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected useful life 3 years    
Software, including capitalized software development costs | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected useful life 5 years    
v3.24.1
Summary of Significant Accounting Policies - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Accounting Policies [Abstract]        
Cash and cash equivalents $ 797,060 $ 721,895 $ 509,059  
Restricted cash included in prepaid expense and other current assets 1,332 37 280  
Restricted cash included in other assets - noncurrent 3,107 1,269 340  
Total cash, cash equivalents, and restricted cash $ 801,499 $ 723,201 $ 509,679 $ 566,336
v3.24.1
Summary of Significant Accounting Policies - Property, plant and equipment useful life (Details)
Jan. 31, 2024
Computer and network equipment  
Property, Plant and Equipment [Line Items]  
Useful life 3 years
Software, including capitalized software development costs | Minimum  
Property, Plant and Equipment [Line Items]  
Useful life 3 years
Software, including capitalized software development costs | Maximum  
Property, Plant and Equipment [Line Items]  
Useful life 5 years
Furniture and office equipment | Minimum  
Property, Plant and Equipment [Line Items]  
Useful life 3 years
Furniture and office equipment | Maximum  
Property, Plant and Equipment [Line Items]  
Useful life 4 years
Leasehold improvements  
Property, Plant and Equipment [Line Items]  
Useful life 10 years
v3.24.1
Summary of Significant Accounting Policies - Useful lives of intangible assets (Details)
Jan. 31, 2024
Existing technology | Minimum  
Finite-Lived Intangible Assets [Line Items]  
Intangible assets, useful life 3 years
Existing technology | Maximum  
Finite-Lived Intangible Assets [Line Items]  
Intangible assets, useful life 5 years
Customer contracts & related relationships | Minimum  
Finite-Lived Intangible Assets [Line Items]  
Intangible assets, useful life 5 years
Customer contracts & related relationships | Maximum  
Finite-Lived Intangible Assets [Line Items]  
Intangible assets, useful life 10 years
Other | Minimum  
Finite-Lived Intangible Assets [Line Items]  
Intangible assets, useful life 1 year
Other | Maximum  
Finite-Lived Intangible Assets [Line Items]  
Intangible assets, useful life 5 years
v3.24.1
Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]      
Remaining performance obligations $ 2,200.0    
Contract assets 15.9 $ 12.4  
Revenue recognized that was included in contract liability balance at the beginning of the period $ 1,200.0 $ 1,000.0 $ 773.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-02-01      
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]      
Remaining performance obligation, percentage 56.00%    
Remaining performance obligations, period of recognition 12 months    
Product Concentration Risk | Revenue | Subscription      
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]      
Concentration risk percentage 97.00% 97.00% 97.00%
v3.24.1
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost $ 723,206 $ 643,215
Gross Unrealized Gains 264 105
Gross Unrealized Losses (771) (4,501)
Estimated Fair Value 722,699 638,819
Cash 444,800 578,900
Level 2 | Available-for-sale securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost 424,689 510,206
Gross Unrealized Gains 264 105
Gross Unrealized Losses (771) (4,501)
Estimated Fair Value 424,182 505,810
Money market funds | Level 1 | Cash Equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost 298,517 133,009
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value 298,517 133,009
Commercial paper | Level 2 | Cash Equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost 43,845 9,992
Gross Unrealized Gains 0 0
Gross Unrealized Losses (9) (2)
Estimated Fair Value 43,836 9,990
Commercial paper | Level 2 | Available-for-sale securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost 42,958 85,957
Gross Unrealized Gains 2 0
Gross Unrealized Losses (25) (258)
Estimated Fair Value 42,935 85,699
Corporate notes and bonds | Level 2 | Available-for-sale securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost 299,166 367,930
Gross Unrealized Gains 262 101
Gross Unrealized Losses (670) (3,771)
Estimated Fair Value 298,758 364,260
Municipal notes and bonds | Level 2 | Available-for-sale securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost   7,983
Gross Unrealized Gains   0
Gross Unrealized Losses   (65)
Estimated Fair Value   7,918
U.S. governmental securities | Level 2 | Cash Equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost 9,968  
Gross Unrealized Gains 0  
Gross Unrealized Losses (1)  
Estimated Fair Value 9,967  
U.S. governmental securities | Level 2 | Available-for-sale securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost 28,752 38,344
Gross Unrealized Gains 0 4
Gross Unrealized Losses (66) (405)
Estimated Fair Value $ 28,686 $ 37,943
v3.24.1
Fair Value Measurements - Fair Value of Available-for-Sale Marketable Securities by Remaining Contractual Maturities (Details) - Short-term Investments
$ in Thousands
Jan. 31, 2024
USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]  
Due in one year or less $ 248,402
Due in one to two years 121,977
Total available-for-sale securities $ 370,379
v3.24.1
Fair Value Measurements - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2023
Jan. 31, 2024
Fair Value Disclosures [Abstract]    
Equity investments in privately held companies $ 12.5 $ 13.2
Decrease in value of equity investments $ 3.7  
v3.24.1
Fair Value Measurements - Fair Value of Convertible Notes (Details) - Convertible Debt - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2021
Sep. 30, 2018
0.5% Convertible Senior Notes due in 2023        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Debt interest rate percentage 0.50%     0.50%
Aggregate principal amount $ 0 $ 37,083    
Fair value amount   38,981    
0.0% Convertible Senior Notes due in 2024        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Debt interest rate percentage 0.00%   0.00%  
Aggregate principal amount $ 0 690,000    
Fair value amount   $ 655,666    
v3.24.1
Property and Equipment, Net (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Property, Plant and Equipment [Line Items]      
Property and equipment, net $ 245,173 $ 199,892  
Depreciation expense 75,700 65,500 $ 57,100
Capitalized development costs amortization expense 35,100 19,700 10,300
Capitalized internally developed software 95,300 66,100 39,000
Capitalized stock-based compensation 30,800 19,200 $ 9,800
Property and equipment, excluding work in progress      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross 387,251 347,705  
Less: Accumulated depreciation (244,270) (210,781)  
Property and equipment, net 142,981 136,924  
Computer and network equipment      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross 142,241 138,869  
Software, including capitalized software development costs      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross 168,584 114,524  
Furniture and office equipment      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross 18,196 20,897  
Leasehold improvements      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross 58,230 73,415  
Work in progress      
Property, Plant and Equipment [Line Items]      
Property and equipment, net $ 102,192 $ 62,968  
v3.24.1
Goodwill and Intangible Assets, Net - Goodwill (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Goodwill [Roll Forward]    
Goodwill, beginning balance $ 353,619 $ 355,058
Foreign currency translation (481) (1,439)
Goodwill, ending balance $ 353,138 $ 353,619
v3.24.1
Goodwill and Intangible Assets, Net - Intangible Assets (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Finite-Lived Intangible Assets, Net [Abstract]    
Weighted-average Remaining Useful Life (Years) 4 years 4 months 24 days  
Acquisition-related Intangibles, Gross $ 208,810 $ 208,810
Accumulated Amortization (149,258) (129,883)
Acquisition-related Intangibles, Net 59,552 78,927
Cumulative translation adjustment (8,647) (8,647)
Acquisition-related Intangibles, Net $ 50,905 70,280
Existing technology    
Finite-Lived Intangible Assets, Net [Abstract]    
Weighted-average Remaining Useful Life (Years) 1 year 3 months 18 days  
Acquisition-related Intangibles, Gross $ 76,194 76,194
Accumulated Amortization (65,777) (56,920)
Acquisition-related Intangibles, Net $ 10,417 19,274
Customer contracts & related relationships    
Finite-Lived Intangible Assets, Net [Abstract]    
Weighted-average Remaining Useful Life (Years) 5 years 1 month 6 days  
Acquisition-related Intangibles, Gross $ 110,082 110,082
Accumulated Amortization (60,947) (50,429)
Acquisition-related Intangibles, Net $ 49,135 59,653
Other    
Finite-Lived Intangible Assets, Net [Abstract]    
Weighted-average Remaining Useful Life (Years) 0 years  
Acquisition-related Intangibles, Gross $ 22,534 22,534
Accumulated Amortization (22,534) (22,534)
Acquisition-related Intangibles, Net $ 0 $ 0
v3.24.1
Goodwill and Intangible Assets, Net - Amortization (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Finite-Lived Intangible Assets [Line Items]      
Amortization of finite-lived intangible assets $ 19,375 $ 20,706 $ 24,770
Cost of subscription revenue      
Finite-Lived Intangible Assets [Line Items]      
Amortization of finite-lived intangible assets 8,857 9,613 11,670
Sales and marketing      
Finite-Lived Intangible Assets [Line Items]      
Amortization of finite-lived intangible assets $ 10,518 $ 11,093 $ 13,100
v3.24.1
Goodwill and Intangible Assets, Net - Future Amortization (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]    
2025 $ 18,798  
2026 12,655  
2027 10,518  
2028 8,058  
2029 4,311  
Thereafter 5,212  
Acquisition-related Intangibles, Net $ 59,552 $ 78,927
v3.24.1
Deferred Contract Acquisition and Fulfillment Costs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Capitalized Contract Cost, Net [Roll Forward]      
Amortization of deferred contract acquisition costs $ (200,163) $ (185,045) $ (144,442)
Deferred Contract Acquisition Costs      
Capitalized Contract Cost, Net [Roll Forward]      
Beginning balance 355,389 315,158  
Additions to deferred contract acquisition costs 209,353 179,898  
Amortization of deferred contract acquisition costs (155,807) (134,964)  
Cumulative translation adjustment 723 (4,703)  
Ending balance 409,658 355,389 315,158
Deferred Contract Fulfillment Costs      
Capitalized Contract Cost, Net [Roll Forward]      
Beginning balance 21,076 19,088  
Additions to deferred contract acquisition costs 45,806 52,417  
Amortization of deferred contract acquisition costs (44,356) (50,081)  
Cumulative translation adjustment (1) (348)  
Ending balance $ 22,525 $ 21,076 $ 19,088
v3.24.1
Debt - Narrative (Details) - USD ($)
$ / shares in Units, shares in Millions
 1 Months Ended 12 Months Ended
Jan. 31, 2021
Sep. 30, 2018
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
May 31, 2023
Apr. 30, 2023
Debt Conversion [Line Items]              
Consideration transferred         $ 252,100,000    
Repayments of convertible debt     $ 726,979,000 $ 16,000 $ 77,906,000    
Settlement of convertible senior notes (in shares)         0.7    
Shares issued in debt conversion (in shares)         $ 174,200,000    
Settlement of convertible senior notes due in 2024     (104,000)   873,000    
Additional Paid-In Capital              
Debt Conversion [Line Items]              
Settlement of convertible senior notes due in 2024     $ (104,000)   873,000    
0.5% Convertible Senior Notes due in 2023 | Capped Calls              
Debt Conversion [Line Items]              
Initial cap price (in usd per share)     $ 110.00 $ 110.00      
0.5% Convertible Senior Notes due in 2023 | Convertible Debt              
Debt Conversion [Line Items]              
Principal on face amount of debt   $ 575,000,000 $ 575,000,000 $ 575,000,000      
Debt interest rate percentage   0.50% 0.50%        
Additional principal amount purchased   $ 75,000,000          
Proceeds from issuance of convertible senior notes, net of initial purchasers' discounts and transaction costs   $ 560,800,000          
Extinguishment loss         $ 77,900,000    
Repayments of convertible debt     $ 37,100,000        
Net carrying value of liability component     $ 0 $ 36,965,000      
0.5% Convertible Senior Notes due in 2023 | Convertible Debt | Capped Calls              
Debt Conversion [Line Items]              
Settlement of capped calls, net of related costs             $ 23,700,000
3.8% Convertible Senior Notes due in 2024 | Capped Calls              
Debt Conversion [Line Items]              
Initial cap price (in usd per share)     $ 525.30 $ 525.30      
3.8% Convertible Senior Notes due in 2024 | Convertible Debt              
Debt Conversion [Line Items]              
Principal on face amount of debt $ 690,000,000   $ 690,000,000 $ 690,000,000      
Debt interest rate percentage 0.00%   0.00%        
Additional principal amount purchased $ 90,000,000            
Proceeds from issuance of convertible senior notes, net of initial purchasers' discounts and transaction costs $ 677,300,000            
Repayments of convertible debt     $ 689,900,000        
Net carrying value of liability component     0 $ 685,922,000      
Credit Facility | Revolving Credit Facility              
Debt Conversion [Line Items]              
Maximum borrowing capacity           $ 500,000,000  
Accordion feature, increase limit           $ 250,000,000  
Net carrying value of liability component     $ 0        
Credit Facility | Revolving Credit Facility | Minimum              
Debt Conversion [Line Items]              
Line of credit, commitment fee percentage on undrawn balance     0.25%        
Credit Facility | Revolving Credit Facility | Maximum              
Debt Conversion [Line Items]              
Line of credit, commitment fee percentage on undrawn balance     0.30%        
v3.24.1
Debt - Carrying Amount Of Equity Component (Details) - Convertible Debt - USD ($)
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2021
Sep. 30, 2018
0.5% Convertible Senior Notes due in 2023        
Debt Instrument [Line Items]        
Debt interest rate percentage 5.90%      
Principal $ 575,000,000 $ 575,000,000   $ 575,000,000
Less: extinguishment or conversion (575,000,000) (537,917,000)    
Unpaid principal 0 37,083,000    
Less: unamortized transaction costs 0 (118,000)    
Net carrying value of liability component 0 36,965,000    
Excess of if-converted value over principal $ 0 0    
3.8% Convertible Senior Notes due in 2024        
Debt Instrument [Line Items]        
Debt interest rate percentage 3.80%      
Principal $ 690,000,000 690,000,000 $ 690,000,000  
Less: extinguishment or conversion (690,000,000) 0    
Unpaid principal 0 690,000,000    
Less: unamortized transaction costs 0 (4,078,000)    
Net carrying value of liability component 0 685,922,000    
Excess of if-converted value over principal $ 0 $ 0    
v3.24.1
Debt - Interest Expense (Details) - Convertible Debt - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Debt Instrument [Line Items]      
Contractual interest expense $ 425 $ 185 $ 168
Amortization of transaction costs 4,197 4,415 4,544
Total $ 4,622 $ 4,600 $ 4,712
v3.24.1
Leases - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Leases [Abstract]      
Operating lease cost $ 28.5 $ 33.2 $ 34.4
Operating lease, weighted average remaining lease term (in years) 8 years 1 month 6 days 8 years 6 months  
Weighted average discount rate 4.70% 4.60%  
v3.24.1
Leases - Future Lease Payments - Topic 842 (Details)
$ in Thousands
Jan. 31, 2024
USD ($)
Leases [Abstract]  
2025 $ 28,350
2026 23,407
2027 21,064
2028 17,044
2029 14,526
Thereafter 69,278
Total undiscounted cash flows 173,669
Less: imputed interest (30,616)
Present value of lease liabilities $ 143,053
v3.24.1
Commitments and Contingencies - Narrative (Details)
$ in Millions
Jan. 31, 2024
USD ($)
Jul. 19, 2022
stayed_case
May 31, 2022
USD ($)
May 17, 2022
putative_case
Commitments and Contingencies Disclosure [Abstract]        
Letters of credit outstanding $ 2.4      
Minimum commitment $ 123.0   $ 175.0  
Number of putative shareholder derivative cases filed | putative_case       5
Number of cases stayed by court order | stayed_case   2    
v3.24.1
Commitments and Contingencies (Details)
$ in Thousands
Jan. 31, 2024
USD ($)
Purchase Obligation, Fiscal Year Maturity [Abstract]  
2025 $ 62,266
2026 54,399
2027 8,318
2028 1,663
2029 1,138
Thereafter 484
Total $ 128,268
v3.24.1
Stockholders' Equity - Common Stock Reserved For Future Issuance (Details) - shares
shares in Thousands
Jan. 31, 2024
Jan. 31, 2023
Class of Stock [Line Items]    
Reserved for future issuance (in shares) 74,641 69,014
RSUs    
Class of Stock [Line Items]    
Reserved for future issuance (in shares) 26,965 17,801
Stock options    
Class of Stock [Line Items]    
Reserved for future issuance (in shares) 1,385 2,228
ESPP    
Class of Stock [Line Items]    
Reserved for future issuance (in shares) 10,628 9,447
Equity Incentive Plans    
Class of Stock [Line Items]    
Reserved for future issuance (in shares) 35,663 39,538
v3.24.1
Stockholders' Equity - Narrative (Details)
 12 Months Ended
Jan. 31, 2024
USD ($)
plan
$ / shares
shares
Jan. 31, 2023
USD ($)
$ / shares
shares
Jan. 31, 2022
USD ($)
$ / shares
shares
Feb. 01, 2024
shares
Sep. 30, 2023
USD ($)
Mar. 31, 2022
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Number of stock-based compensation plans | plan 3          
Shares granted in period (in shares) | shares 0 0 0      
Unrecognized compensation cost, options $ 0          
Intrinsic value of options exercised $ 23,600,000 $ 48,100,000 $ 391,200,000      
Percent of purchase price of fair value of common stock 85.00%          
Employee stock purchase plan, compensation expense $ 616,847,000 $ 538,726,000 $ 408,542,000      
Reserved for future issuance (in shares) | shares 74,641,000 69,014,000        
Stock repurchase program, authorized amount           $ 200,000,000
Stock repurchase program, additional authorized amount         $ 300,000,000  
Repurchases of common stock (in shares) | shares 3,100,000 1,100,000        
Average price per share of stock repurchased (in usd per share) | $ / shares $ 47.57 $ 55.52        
Aggregate purchase price of stock repurchased $ 145,515,000 $ 63,041,000        
RSUs            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period 4 years          
Weighted average grant date fair value of RSUs (in usd per share) | $ / shares $ 54.15 $ 66.50 $ 226.20      
Grant date fair value $ 631,800,000 $ 461,800,000 $ 367,100,000      
Unrecognized compensation cost, RSUs $ 1,200,000,000          
Unrecognized compensation cost, remaining weighted-average period for recognition 3 years          
Reserved for future issuance (in shares) | shares 26,965,000 17,801,000        
RSUs | Market Based Vesting Conditions            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Grant date fair value | $ / shares $ 117,900,000          
ESPP            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Annual increase in shares reserved, percentage of total shares 1.00%          
Increase in shares reserved for issuance (in shares) | shares 3,800,000          
Employee contribution, maximum percentage of earnings 15.00%          
ESPP offering period 6 months          
Employee stock purchase plan, compensation expense $ 16,000,000 $ 22,200,000 $ 18,600,000      
Reserved for future issuance (in shares) | shares 10,628,000 9,447,000        
Stock options            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
ESPP offering period 6 months          
Reserved for future issuance (in shares) | shares 1,385,000 2,228,000        
2018 Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Annual increase in shares reserved, percentage of total shares 5.00%          
2018 Plan | Subsequent Event            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Increase in shares reserved for issuance (in shares) | shares       10,300,000    
2018 Plan | RSUs            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period 1 year          
Annual vesting percentage 25.00%          
v3.24.1
Stockholders' Equity - Equity Awards Available For Grants (Details)
shares in Thousands
 12 Months Ended
Jan. 31, 2024
shares
Number Of Shares Available For Grant [Roll Forward]  
Available at beginning of fiscal year (in shares) 39,538
Awards authorized (in shares) 10,095
Shares granted (in shares) (19,573)
Shares canceled/expired (in shares) 3
Available at end of fiscal year (in shares) 35,663
RSUs  
Number Of Shares Available For Grant [Roll Forward]  
Shares granted (in shares) (19,573)
Shares canceled/expired (in shares) 2,888
Shares withheld for taxes (in shares) 2,715
v3.24.1
Stockholders' Equity - RSU Activity (Details) - $ / shares
shares in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Number of Units      
Granted (in shares) 19,573    
RSUs      
Number of Units      
Unvested at beginning of period (in shares) 17,621    
Granted (in shares) 19,573    
Vested (in shares) (7,609)    
Canceled (in shares) (2,885)    
Unvested at end of period (in shares) 26,700 17,621  
Weighted-Average Grant Date Fair Value      
Unvested at beginning of period (in usd per share) $ 81.30    
Granted (in usd per share) 54.15 $ 66.50 $ 226.20
Vested (in usd per share) 83.03    
Canceled (in usd per share) 83.30    
Unvested at end of period (in usd per share) $ 60.70 $ 81.30  
v3.24.1
Stockholders' Equity - Summary of Valuation Assumptions (RSUs) (Details) - RSUs
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Risk-free interest rate 4.12%   0.30%
Risk-free interest rate, minimum   3.21%  
Risk-free interest rate, maximum   4.42%  
Expected dividend yield 0.00% 0.00% 0.00%
Expected life (in years) 3 years   3 years
Expected volatility 71.00%   46.00%
Expected volatility, minimum   54.00%  
Expected volatility, maximum   66.00%  
Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected life (in years)   1 year  
Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected life (in years)   6 years 8 months 12 days  
v3.24.1
Stockholders' Equity - Stock Option Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Number of Options    
Beginning balance (in shares) 2,228  
Exercised (in shares) (840)  
Canceled/expired (in shares) (3)  
Ending balance (in shares) 1,385 2,228
Weighted-Average Exercise Price Per Share    
Beginning balance (in usd per share) $ 17.11  
Exercised (in usd per share) 16.65  
Canceled/expired (in usd per share) 17.48  
Ending balance (in usd per share) $ 17.39 $ 17.11
Weighted-Average Remaining Contractual Term (Years)    
Outstanding balance 2 years 7 months 17 days 3 years 7 months 6 days
Aggregate Intrinsic Value    
Outstanding balance $ 60,117 $ 96,839
v3.24.1
Stockholders' Equity - Valuation Assumptions (Details) - ESPP
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Class of Stock [Line Items]      
Risk-free interest rate, minimum 4.93% 1.15% 0.04%
Risk-free interest rate, maximum 5.59% 4.04% 0.06%
Expected dividend yield 0.00% 0.00% 0.00%
Expected life (in years) 6 months 6 months 6 months
Expected volatility, minimum 31.00% 83.00% 43.00%
Expected volatility, maximum 76.00% 102.00% 58.00%
v3.24.1
Restructuring and Related Activities - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Restructuring Cost and Reserve [Line Items]      
Restructuring and other related charges $ 30,381 $ 28,335 $ 0
Stock-based compensation expense 616,847 538,726 $ 408,542
Employee termination benefits      
Restructuring Cost and Reserve [Line Items]      
Restructuring and other related charges 28,800 27,400  
Stock-based compensation expense $ 5,000 $ 5,600  
v3.24.1
Restructuring and Related Activities - Schedule of Restructuring Liabilities Roll forward (Details)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
USD ($)
2023 Restructuring Plan  
Restructuring Reserve [Roll Forward]  
Restructuring, beginning balance $ 542
Accruals 1,769
Cash Payments (2,311)
Restructuring, ending balance 0
2024 Restructuring Plan  
Restructuring Reserve [Roll Forward]  
Restructuring, beginning balance 0
Accruals 23,391
Cash Payments (23,269)
Restructuring, ending balance 122
Employee termination benefits | 2023 Restructuring Plan  
Restructuring Reserve [Roll Forward]  
Restructuring, beginning balance 384
Accruals 1,749
Cash Payments (2,133)
Restructuring, ending balance 0
Employee termination benefits | 2024 Restructuring Plan  
Restructuring Reserve [Roll Forward]  
Restructuring, beginning balance 0
Accruals 21,837
Cash Payments (21,837)
Restructuring, ending balance 0
Other | 2023 Restructuring Plan  
Restructuring Reserve [Roll Forward]  
Restructuring, beginning balance 158
Accruals 20
Cash Payments (178)
Restructuring, ending balance 0
Other | 2024 Restructuring Plan  
Restructuring Reserve [Roll Forward]  
Restructuring, beginning balance 0
Accruals 1,554
Cash Payments (1,432)
Restructuring, ending balance $ 122
v3.24.1
Net Income (Loss) per Share Attributable to Common Stockholders - Calculation of Basic and Diluted Net Income (Loss) Per Share Attributable to Common Stockholders (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Numerator:      
Net income (loss) attributable to common stockholders, basic $ 73,980 $ (97,454) $ (69,976)
Add: Interest expense on convertible senior notes 425 0 0
Net income (loss) attributable to common stockholders, diluted $ 74,405 $ (97,454) $ (69,976)
Denominator:      
Weighted-average common shares outstanding, basic (in shares) 204,070 200,903 196,675
Effect of dilutive securities (in shares) 4,880 0 0
Weighted-average common shares outstanding, diluted (in shares) 208,950 200,903 196,675
Net income (loss) per share attributable to common stockholders:      
Basic (in usd per share) $ 0.36 $ (0.49) $ (0.36)
Diluted (in usd per share) $ 0.36 $ (0.49) $ (0.36)
v3.24.1
Net Income (Loss) per Share Attributable to Common Stockholders - Antidilutive Securities (Details) - shares
shares in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities (in shares) 6,430 20,034 13,396
RSUs      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities (in shares) 6,430 15,129 7,843
Stock options      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities (in shares) 0 2,228 3,105
ESPP      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities (in shares) 0 516 287
Convertible senior notes      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities (in shares) 0 2,161 2,161
v3.24.1
Employee Benefit Plan (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Jan. 31, 2019
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Postemployment Benefits [Abstract]        
Percentage of participant's contribution matched by employer 50.00%      
Employer matching contribution, maximum percentage of participant's base salary 6.00%      
Defined contribution plan expense   $ 33.2 $ 32.3 $ 25.5
v3.24.1
Income Taxes - Components of Pre-Tax Income (Loss) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Income Tax Disclosure [Abstract]      
U.S. $ 54,551 $ 19,673 $ (93,356)
International 39,128 (109,554) 26,442
Income (loss) before provision for income taxes $ 93,679 $ (89,881) $ (66,914)
v3.24.1
Income Taxes - Components of Income Tax Provision (Benefit) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Current      
Federal $ 6,390 $ (464) $ (931)
State 2,018 1,666 (108)
Foreign 4,974 4,674 3,407
Total current 13,382 5,876 2,368
Deferred      
Federal 21 21 213
State 2 (21) 184
Foreign 6,294 1,697 297
Total deferred 6,317 1,697 694
Provision for income taxes $ 19,699 $ 7,573 $ 3,062
v3.24.1
Income Taxes - Effective Income Tax Rate Reconciliation (Details)
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
U.S. statutory rate 21.00% 21.00% 21.00%
State taxes 2.40% (2.40%) 2.10%
Foreign tax rate differential 37.90% 16.40% (3.40%)
Foreign-derived intangible income deduction (11.70%) 0.00% 0.00%
Stock-based compensation 81.80% (55.10%) 309.60%
Change in valuation allowance (102.50%) (35.50%) (386.40%)
Dual Jurisdiction Deferred Taxes 36.00% 39.20% 0.00%
Research and development credits (46.00%) 20.10% 58.20%
Lapse of Statute of Limitations (0.20%) 0.60% 1.40%
Other deferred adjustment (1.20%) (10.70%) (9.90%)
Other 3.50% (2.00%) 2.80%
Effective tax rate 21.00% (8.40%) (4.60%)
v3.24.1
Income Taxes - Components of Net Deferred Tax Balances (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Jan. 31, 2021
Deferred tax assets        
Net operating loss carryforwards $ 570,152 $ 711,532    
Accruals and reserves 14,895 18,330    
Stock-based compensation 39,320 49,615    
Research and development credits 147,959 118,183    
Capitalized research and development expenses 246,945 204,501    
Other 53,140 55,087    
Total deferred tax assets 1,072,411 1,157,248    
Less: Valuation allowance (934,816) (1,032,016) $ (999,191) $ (723,767)
Deferred tax assets, net of valuation allowance 137,595 125,232    
Deferred tax liabilities        
Deferred contract acquisition costs (100,806) (103,185)    
Other (51,500) (30,646)    
Total deferred tax liabilities (152,306) (133,831)    
Net deferred tax liabilities $ (14,711) $ (8,599)    
v3.24.1
Income Taxes - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Operating Loss Carryforwards [Line Items]      
Tax benefit from compensation expense $ 7,100 $ 3,300 $ 1,600
Increase (decrease) in tax benefit (3,800) (2,200) 1,900
Unrecognized tax benefits 60,744 47,946 46,729
Unrecognized tax benefits that would affect tax rate, if recognized 11,000    
Liability for uncertain tax positions 12,300 11,300 $ 16,200
Accrued interest and penalties 1,300    
Increase (decrease) in valuation allowance (97,200) $ 32,800  
Domestic Tax Authority      
Operating Loss Carryforwards [Line Items]      
Operating loss carryforwards 2,200,000    
Operating loss carryforwards not limited to 80% of taxable income 2,200,000    
Research tax credit carryforwards 153,700    
Domestic Tax Authority | California      
Operating Loss Carryforwards [Line Items]      
Research tax credit carryforwards 52,300    
State and Local Jurisdiction      
Operating Loss Carryforwards [Line Items]      
Operating loss carryforwards 1,200,000    
Foreign Tax Authority      
Operating Loss Carryforwards [Line Items]      
Operating loss carryforwards $ 152,500    
v3.24.1
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]    
Unrecognized tax benefits balance at February 1 $ 47,946 $ 46,729
Gross increase for tax positions of prior years 4,368 333
Gross decrease for tax positions of prior years (156) (1,734)
Settlements 0 (2,484)
Gross increase for tax positions of current year 8,586 5,102
Unrecognized tax benefits balance at January 31 $ 60,744 $ 47,946
v3.24.1
Income Taxes - Valuation Allowance (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Deferred Tax Assets, Valuation Allowance [Roll Forward]      
Beginning balance $ 1,032,016 $ 999,191 $ 723,767
Valuation allowance charged to income tax provision (97,200) 32,825 256,017
Adoption of ASU 2020-06 0 0 19,407
Ending balance $ 934,816 $ 1,032,016 $ 999,191
v3.24.1
Geographic Information - Narrative (Details)
 12 Months Ended
Jan. 31, 2024
segment
Segment Reporting [Abstract]  
Number of operating segments 1
Number of reportable segments 1
v3.24.1
Geographic Information - Schedule of Revenues by Geographic Area (Details) - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue $ 2,761,882 $ 2,515,915 $ 2,107,213
U.S.      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue 2,032,950 1,895,932 1,625,966
International      
Revenues from External Customers and Long-Lived Assets [Line Items]      
Total revenue $ 728,932 $ 619,983 $ 481,247
v3.24.1
Geographic Information - Schedule of Property and Equipment by Geographic Area (Details) - USD ($)
$ in Thousands
Jan. 31, 2024
Jan. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total long-lived assets $ 368,361 $ 341,385
U.S.    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total long-lived assets 296,609 266,328
Ireland    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total long-lived assets 39,899 44,019
International    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total long-lived assets $ 31,853 $ 31,038
v3.24.1
Subsequent Events (Details) - Subsequent Event - 2025 Restructuring Plan
$ in Millions
Feb. 06, 2024
USD ($)
Subsequent Event [Line Items]  
Expected workforce reduction percentage 6.00%
Minimum  
Subsequent Event [Line Items]  
Expected restructuring cost $ 28
Maximum  
Subsequent Event [Line Items]  
Expected restructuring cost $ 32
v3.24.1
Label Element Value
Accounting Standards Update [Extensible Enumeration] us-gaap_AccountingStandardsUpdateExtensibleList Accounting Standards Update 2020-06 [Member]