DOCUSIGN, INC., 10-Q filed on 6/8/2023
Quarterly Report
v3.23.1
Cover Page - shares
 3 Months Ended
Apr. 30, 2023
May 31, 2023
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Apr. 30, 2023  
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 $0.0001 per share  
Trading Symbol DOCU  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   202,371,035
Entity Central Index Key 0001261333  
Current Fiscal Year End Date --01-31  
Amendment Flag false  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q1  
v3.23.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Apr. 30, 2023
Jan. 31, 2023
Current assets    
Cash and cash equivalents $ 940,494 $ 721,895
Investments—current 350,763 309,771
Accounts receivable, net of allowance for doubtful accounts of $5,625 and $6,011 as of April 30, 2023 and January 31, 2023 408,632 516,914
Contract assets—current 17,454 12,437
Prepaid expenses and other current assets 86,719 69,987
Total current assets 1,804,062 1,631,004
Investments—noncurrent 120,803 186,049
Property and equipment, net 206,026 199,892
Operating lease right-of-use assets 135,403 141,493
Goodwill 353,308 353,619
Intangible assets, net 65,247 70,280
Deferred contract acquisition costs—noncurrent 359,255 350,899
Other assets—noncurrent 85,795 79,484
Total assets 3,129,899 3,012,720
Current liabilities    
Accounts payable 14,688 24,393
Accrued expenses and other current liabilities 101,685 100,987
Accrued compensation 141,990 163,133
Convertible senior notes—current 723,995 722,887
Contract liabilities—current 1,190,364 1,172,867
Operating lease liabilities—current 22,742 24,055
Total current liabilities 2,195,464 2,208,322
Contract liabilities—noncurrent 17,715 16,925
Operating lease liabilities—noncurrent 136,243 141,348
Deferred tax liability—noncurrent 12,324 10,723
Other liabilities—noncurrent 18,661 18,115
Total liabilities 2,380,407 2,395,433
Commitments and contingencies (Note 7)
Stockholders’ equity    
Preferred stock, $0.0001 par value; 10,000 shares authorized, 0 shares issued and outstanding as of April 30, 2023 and January 31, 2023 0 0
Common stock, $0.0001 par value; 500,000 shares authorized, 202,359 shares outstanding as of April 30, 2023; 500,000 shares authorized, 201,904 shares outstanding as of January 31, 2023 20 20
Treasury stock, at cost: 15 shares as of April 30, 2023; 10 shares as of January 31, 2023 (2,027) (1,785)
Additional paid-in capital 2,412,033 2,240,732
Accumulated other comprehensive loss (21,917) (22,996)
Accumulated deficit (1,638,617) (1,598,684)
Total stockholders’ equity 749,492 617,287
Total liabilities and equity $ 3,129,899 $ 3,012,720
v3.23.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
Apr. 30, 2023
Jan. 31, 2023
Statement of Financial Position [Abstract]    
Accounts receivable, allowance for credit loss $ 5,625 $ 6,011
Preferred stock, par value (in usd per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 10,000,000 10,000,000
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) 500,000,000 500,000,000
Common stock, shares outstanding (in shares) 202,359,000 201,904,000
Treasury stock, shares (in shares) 15,000 10,000
v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Revenue:    
Total revenue $ 661,388 $ 588,692
Cost of revenue:    
Total cost of revenue 136,487 132,416
Gross profit 524,901 456,276
Operating expenses:    
Sales and marketing 280,605 300,697
Research and development 115,364 112,227
General and administrative 104,811 62,578
Restructuring and other related charges 28,772 0
Total operating expenses 529,552 475,502
Loss from operations (4,651) (19,226)
Interest expense (1,966) (1,649)
Interest income and other income (expense), net 12,245 (4,650)
Income (loss) before provision for income taxes 5,628 (25,525)
Provision for income taxes 5,089 1,848
Net income (loss) $ 539 $ (27,373)
Net income (loss) per share attributable to common stockholders:    
Basic (in usd per share) $ 0.00 $ (0.14)
Diluted (in usd per share) $ 0.00 $ (0.14)
Weighted-average number of shares used in computing net income (loss) per share attributable to common stockholders:    
Basic (in shares) 202,631 199,666
Diluted (in shares) 208,071 199,666
Other comprehensive income (loss):    
Foreign currency translation gain (loss), net of tax $ 431 $ (11,825)
Unrealized gains (losses) on investments, net of tax 648 (2,414)
Other comprehensive income (loss) 1,079 (14,239)
Comprehensive income (loss) 1,618 (41,612)
Stock-based compensation expense included in costs and expenses:    
Stock-based compensation expense 144,706 110,723
Sales and marketing    
Stock-based compensation expense included in costs and expenses:    
Stock-based compensation expense 45,326 47,431
Research and development    
Stock-based compensation expense included in costs and expenses:    
Stock-based compensation expense 35,997 32,205
General and administrative    
Stock-based compensation expense included in costs and expenses:    
Stock-based compensation expense 40,342 15,392
Restructuring and other related charges    
Stock-based compensation expense included in costs and expenses:    
Stock-based compensation expense 4,954 0
Subscription    
Revenue:    
Total revenue 639,307 569,251
Cost of revenue:    
Total cost of revenue 108,942 105,159
Subscription | Cost of revenue    
Stock-based compensation expense included in costs and expenses:    
Stock-based compensation expense 11,357 10,613
Professional services and other    
Revenue:    
Total revenue 22,081 19,441
Cost of revenue:    
Total cost of revenue 27,545 27,257
Professional services and other | Cost of revenue    
Stock-based compensation expense included in costs and expenses:    
Stock-based compensation expense $ 6,730 $ 5,082
v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-In Capital
Treasury Stock
Accumulated Other Comprehensive Loss
Accumulated Deficit
Beginning balance (in shares) at Jan. 31, 2022   198,834        
Beginning 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)   179        
Exercise of stock options 1,938   1,938      
Settlement of restricted stock units and employee stock purchase plan (in shares)   642        
Tax withholding on net share settlement of restricted stock units and employee stock purchase plan (25,519)   (25,403) (116)    
Employee stock purchase plan (in shares)   265        
Employee stock purchase plan $ 24,151   24,151      
Repurchases of common stock (in shares) 0          
Employee stock-based compensation $ 114,488   114,488      
Net income (loss) (27,373)         (27,373)
Other comprehensive income (loss), net (14,239)       (14,239)  
Ending balance (in shares) at Apr. 30, 2022   199,920        
Ending balance at Apr. 30, 2022 $ 348,949 $ 20 1,835,187 (1,648) (19,048) (1,465,562)
Beginning balance (in shares) at Jan. 31, 2023 201,904 201,904        
Beginning 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]            
Exercise of stock options (in shares) 16 15        
Exercise of stock options $ 127   127      
Settlement of restricted stock units and employee stock purchase plan (in shares)   1,144        
Tax withholding on net share settlement of restricted stock units (in shares) (415)          
Tax withholding on net share settlement of restricted stock units and employee stock purchase plan $ (23,076)   (22,834) (242)    
Employee stock purchase plan (in shares)   420        
Employee stock purchase plan $ 18,390   18,390      
Repurchases of common stock (in shares) (700) (709)        
Repurchases of common stock $ (40,472)         (40,472)
Settlement of capped calls, net of related costs 23,688   23,688      
Employee stock-based compensation 151,930   151,930      
Net income (loss) 539         539
Other comprehensive income (loss), net $ 1,079       1,079  
Ending balance (in shares) at Apr. 30, 2023 202,359 202,359        
Ending balance at Apr. 30, 2023 $ 749,492 $ 20 $ 2,412,033 $ (2,027) $ (21,917) $ (1,638,617)
v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 539 $ (27,373)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 22,867 21,301
Amortization of deferred contract acquisition and fulfillment costs 48,230 43,990
Amortization of debt discount and transaction costs 1,246 1,284
Non-cash operating lease costs 5,980 6,442
Stock-based compensation expense 144,706 110,723
Deferred income taxes 1,623 72
Other (831) 4,907
Changes in operating assets and liabilities:    
Accounts receivable 108,281 140,078
Prepaid expenses and other current assets (16,803) (16,351)
Deferred contract acquisition and fulfillment costs (56,526) (50,512)
Other assets (7,661) (7,459)
Accounts payable (9,021) (23,197)
Accrued expenses and other liabilities 1,095 5,148
Accrued compensation (21,582) (23,220)
Contract liabilities 18,287 18,712
Operating lease liabilities (6,795) (8,259)
Net cash provided by operating activities 233,635 196,286
Cash flows from investing activities:    
Purchases of marketable securities (53,830) (129,735)
Maturities of marketable securities 80,699 91,055
Purchases of strategic and other investments 0 (2,125)
Purchases of property and equipment (19,057) (21,709)
Net cash (used in) provided by investing activities 7,812 (62,514)
Cash flows from financing activities:    
Repurchases of common stock (40,472) 0
Settlement of capped calls, net of related costs 23,688 0
Payment of tax withholding obligation on net RSU settlement and ESPP purchase (22,637) (24,739)
Proceeds from exercise of stock options 127 1,938
Proceeds from employee stock purchase plan 18,390 24,151
Net cash (used in) provided by financing activities (20,904) 1,350
Effect of foreign exchange on cash, cash equivalents and restricted cash 1,011 (5,180)
Net increase in cash, cash equivalents and restricted cash 221,554 129,942
Cash, cash equivalents and restricted cash at beginning of period [1] 723,201 509,679
Cash, cash equivalents and restricted cash at end of period [1] 944,755 639,621
Supplemental disclosure:    
Cash paid for interest 93 93
Cash paid for operating lease liabilities 10,861 10,423
Cash paid for income taxes 765 1,760
Non-cash investing and financing activities:    
Property and equipment in accounts payable and accrued expenses and other current liabilities $ 2,727 $ 5,358
[1] $4.3 million and $1.3 million of restricted cash was included in Prepaid expenses and other current assets and Other assets—noncurrent at April 30, 2023 and January 31, 2023. $1.4 million and $0.6 million of restricted cash was included in Prepaid expenses and other current assets and in Other assets—noncurrent at April 30, 2022, and January 31, 2022.
v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Parenthetical) - USD ($)
$ in Millions
Apr. 30, 2023
Jan. 31, 2023
Apr. 30, 2022
Jan. 31, 2022
Statement of Cash Flows [Abstract]        
Restricted cash $ 4.3 $ 1.3 $ 1.4 $ 0.6
v3.23.1
Summary of Significant Accounting Policies
 3 Months Ended
Apr. 30, 2023
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Organization and Description of Business

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

DocuSign is the global leader in the eSignature category. We offer products that address broader agreement workflows, and digital transformation, including the world’s leading electronic signature product, enabling agreements to be signed electronically on a wide variety of devices, from virtually anywhere in the world, securely.

Basis of Presentation and Principles of Consolidation

Our condensed consolidated financial statements include those of DocuSign, Inc. and our subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The accompanying condensed consolidated financial statements have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) for interim financial information. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). Therefore, these unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our fiscal 2023 Annual Report on Form 10-K.

Our condensed consolidated financial statements are unaudited and have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and, in our opinion, include all adjustments of a normal recurring nature necessary for the fair statement of our financial position, results of operations and cash flows. Our condensed consolidated balance sheet as of January 31, 2023 was derived from audited financial statements but does not include all disclosures required by U.S. GAAP. The results of operations for the three months ended April 30, 2023 are not necessarily indicative of the results to be expected for the year ending January 31, 2024.

Our fiscal year ends on January 31. References to fiscal 2024, for example, are to the fiscal year ending 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 condensed 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.

Significant Accounting Policies

There have been no changes to our significant accounting policies described in our fiscal 2023 Annual Report on Form 10-K that have had a material impact on our condensed consolidated financial statements and related notes.
v3.23.1
Revenue
 3 Months Ended
Apr. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue RevenueSubscription revenue is recognized over time and accounted for approximately 97% of our revenue for both the three months ended April 30, 2023 and 2022.
Performance Obligations
    
As of April 30, 2023, the amount of the transaction price allocated to remaining performance obligations for contracts greater than one year was $1.8 billion. We expect to recognize 58% of the transaction price allocated to remaining performance obligations within the 12 months following April 30, 2023 in our condensed 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 $17.5 million and $12.4 million as of April 30, 2023 and January 31, 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 include payments received in advance of performance under the contract. Such amounts are generally recognized as revenue over the contractual period. For the three months ended April 30, 2023 and 2022, we recognized revenue of $510.5 million and $450.7 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.

Geographic Information

Revenue by geography is based on the address of the customer as specified in our master subscription agreements with our customers. Revenue by geographic area was as follows:
Three Months Ended April 30,
(in thousands)20232022
U.S.$493,058 $444,453 
International168,330 144,239 
Total revenue$661,388 $588,692
Deferred Contract Acquisition and Fulfillment CostsThe following table represents a rollforward of our deferred contract acquisition and fulfillment costs:
Three Months Ended April 30,
(in thousands)20232022
Deferred Contract Acquisition Costs:
Beginning balance$355,389 $315,158 
Additions to deferred contract acquisition costs43,239 38,286 
Amortization of deferred contract acquisition costs(35,746)(32,227)
Cumulative translation adjustment826 (2,903)
Ending balance$363,708 $318,314 
Deferred Contract Fulfillment Costs:
Beginning balance$21,076 $19,088 
Additions to deferred contract fulfillment costs13,287 12,226 
Amortization of deferred contract fulfillment costs(12,484)(11,763)
Cumulative translation adjustment166 (627)
Ending balance$22,045 $18,924 
v3.23.1
Fair Value Measurements
 3 Months Ended
Apr. 30, 2023
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:
April 30, 2023
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Level 1:
Cash equivalents(1)
Money market funds$331,532 $— $— $331,532 
Level 2:
Cash equivalents(1)
Commercial paper36,787 — (17)36,770 
U.S. governmental securities1,300 — — 1,300 
Available-for-sale securities
Commercial paper90,664 4 (149)90,519 
Corporate notes and bonds320,733 15 (3,183)317,565 
Municipal notes and bonds7,990 — (27)7,963 
U.S. governmental securities55,911 — (392)55,519 
Level 2 total513,385 19 (3,768)509,636 
Total$844,917 $19 $(3,768)$841,168 
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 April 30, 2023 and January 31, 2023, in addition to cash of $570.9 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 April 30, 2023, by remaining contractual maturities, were as follows (in thousands):
Due in one year or less$350,763 
Due in one to two years120,803 
$471,566 

As of April 30, 2023 and January 31, 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 April 30, 2023 and January 31, 2023.

Convertible Senior Notes

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 day of the reporting period (Level 2). The Notes are recorded at face value less unamortized debt discount and transaction costs as “Convertible senior notes—current” on our condensed consolidated balance sheets. Refer to Note 6 for further information.

(in thousands)April 30, 2023January 31, 2023
0.5% Convertible Senior Notes due in 2023
Aggregate principal amount$37,083 $37,083 
Fair value amount36,849 38,981 
0% Convertible Senior Notes due in 2024
Aggregate principal amount$690,000 $690,000 
Fair value amount661,910 655,666 
v3.23.1
Property and Equipment, Net
 3 Months Ended
Apr. 30, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment consisted of the following:
(in thousands)April 30, 2023January 31, 2023
Computer and network equipment$137,152 $138,869 
Software, including capitalized software development costs124,123 114,524 
Furniture and office equipment20,277 20,897 
Leasehold improvements73,184 73,415 
354,736 347,705 
Less: Accumulated depreciation(222,046)(210,781)
132,690 136,924 
Work in progress73,336 62,968 
     Total$206,026 $199,892 

Depreciation and amortization expense associated with property and equipment was $17.8 million and $15.7 million for the three months ended April 30, 2023 and 2022. This included amortization expense related to capitalized internally-developed software costs of $6.8 million and $4.3 million for the three months ended April 30, 2023 and 2022.

For the three months ended April 30, 2023 and 2022, we capitalized $21.7 million and $10.5 million of internally developed software, including $6.8 million and $2.8 million of capitalized stock-based compensation expense in the three months ended April 30, 2023 and 2022.
v3.23.1
Deferred Contract Acquisition and Fulfillment Costs
 3 Months Ended
Apr. 30, 2023
Revenue from Contract with Customer [Abstract]  
Deferred Contract Acquisition and Fulfillment Costs RevenueSubscription revenue is recognized over time and accounted for approximately 97% of our revenue for both the three months ended April 30, 2023 and 2022.
Performance Obligations
    
As of April 30, 2023, the amount of the transaction price allocated to remaining performance obligations for contracts greater than one year was $1.8 billion. We expect to recognize 58% of the transaction price allocated to remaining performance obligations within the 12 months following April 30, 2023 in our condensed 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 $17.5 million and $12.4 million as of April 30, 2023 and January 31, 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 include payments received in advance of performance under the contract. Such amounts are generally recognized as revenue over the contractual period. For the three months ended April 30, 2023 and 2022, we recognized revenue of $510.5 million and $450.7 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.

Geographic Information

Revenue by geography is based on the address of the customer as specified in our master subscription agreements with our customers. Revenue by geographic area was as follows:
Three Months Ended April 30,
(in thousands)20232022
U.S.$493,058 $444,453 
International168,330 144,239 
Total revenue$661,388 $588,692
Deferred Contract Acquisition and Fulfillment CostsThe following table represents a rollforward of our deferred contract acquisition and fulfillment costs:
Three Months Ended April 30,
(in thousands)20232022
Deferred Contract Acquisition Costs:
Beginning balance$355,389 $315,158 
Additions to deferred contract acquisition costs43,239 38,286 
Amortization of deferred contract acquisition costs(35,746)(32,227)
Cumulative translation adjustment826 (2,903)
Ending balance$363,708 $318,314 
Deferred Contract Fulfillment Costs:
Beginning balance$21,076 $19,088 
Additions to deferred contract fulfillment costs13,287 12,226 
Amortization of deferred contract fulfillment costs(12,484)(11,763)
Cumulative translation adjustment166 (627)
Ending balance$22,045 $18,924 
v3.23.1
Debt
 3 Months Ended
Apr. 30, 2023
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 (“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. Based upon the reported sales price of our common stock, the 2023 Notes became convertible on August 1, 2020 and were convertible through July 31, 2022. As of April 30, 2023, the conversion conditions for the 2023 Notes described in our fiscal 2023 Annual Report on Form 10-K were not met.

In January 2021, we issued $690.0 million in aggregate principal amount of the 0% Convertible Senior Notes due in 2024 (“2024 Notes,” and together with the 2023 Notes, the “Notes”). The net proceeds from the issuance of the 2024 Notes were $677.3 million after deducting the initial purchasers’ discounts and transaction costs. As of April 30, 2023, the conversion conditions for the 2024 Notes described in our fiscal 2023 Annual Report on Form 10-K were not met.

Net Carrying Amounts of the Liability Components

The 2023 Notes and 2024 Notes are within one year of maturity and are therefore classified as current liabilities in our consolidated balance sheets as of April 30, 2023 and January 31, 2023. The 2023 Notes mature September 15, 2023, and the 2024 Notes mature January 15, 2024. The net carrying amounts of the Notes were as follows:
(in thousands)April 30, 2023January 31, 2023
2023 Notes:
Principal$37,083 $37,083 
Less: unamortized transaction costs(70)(118)
Net carrying value of liability component$37,013 $36,965 
2024 Notes:
Principal$690,000 $690,000 
Less: unamortized transaction costs(3,018)(4,078)
Net carrying value of liability component$686,982 $685,922 
The effective interest rate on the 2023 Notes was 1.0%. The effective interest rate on the 2024 notes was 0.6%. Interest expense recognized related to the Notes was as follows:
Three Months Ended April 30,
(in thousands)20232022
Contractual interest expense$357 $46 
Amortization of transaction costs1,109 1,101 
Total$1,466 $1,147 

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.

The material terms of the capped call transactions were as follows:
(in thousands, except per share amounts)2023 Notes2024 Notes
Aggregate cost of capped calls$4,357 $31,395 
Initial strike price per share (1)
$71.50 $420.24 
Initial cap price per share (1)
$110.00 $525.30 
Shares of our common stock covered by the capped calls (1)
519 1,642 
(1) Subject to adjustments for certain events, such as merger events and tender offers, and anti-dilution adjustments

In the first quarter of fiscal 2024, we unwound capped calls in relation to our 2023 Notes. In connection with the unwind transaction, we received cash totaling $23.7 million from the counterparties.

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.

Upon conversion, there will be no economic dilution from the Notes unless the market price of our common stock exceeds the cap prices listed above in the Capped Calls section, as exercise of the Capped Calls offsets any dilution from the Notes from the conversion price up to the cap price. As of April 30, 2023, the market price of our common stock did not exceed the $110.00 per share cap price associated with the 2023 Notes nor the $525.30 cap price associated with the 2024 Notes; therefore, the Notes would not have caused economic dilution if converted.

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 (the “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, for capital expenditures and for other general corporate purposes, including permitted acquisitions.

The Credit 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 April 30, 2023. As of April 30, 2023, there were no outstanding borrowings under the Credit Facility. The Credit 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.
v3.23.1
Commitments and Contingencies
 3 Months Ended
Apr. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
As of April 30, 2023, we had unused letters of credit outstanding totaling $5.3 million, the majority of which are associated with our various operating leases.

We have entered into certain noncancellable 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 April 30, 2023, our future noncancellable minimum payments due under these contractual obligations with a remaining term of more than one year were as follows:
Fiscal Period:Amount (in thousands)
2024, remainder$36,514 
202523,072 
202611,625 
20274,899 
20281,663 
Thereafter1,622 
Total$79,395 

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 April 30, 2023, the remaining commitment was $149.7 million. The remaining commitment is excluded from the table above.

In May 2023, we entered into an agreement with a public cloud computing service provider for a two-year commitment of $21.0 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 April 30, 2023, and January 31, 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 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.

Four 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; and 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. 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, 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, 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.

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. DocuSign has engaged legal counsel to defend the matter, and on March 10, 2023, submitted a motion to dismiss several of the causes of action asserted in the demand. Mr. Springer opposed the motion, which remains pending with the arbitrator. Discovery is ongoing.
v3.23.1
Stockholders' Equity
 3 Months Ended
Apr. 30, 2023
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity
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”).

As of April 30, 2023, 48.6 million shares of our common stock were available for issuance under the 2018 Plan.
Restricted Stock Units

Restricted stock unit (“RSU”) activity for the three months ended April 30, 2023 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 
Granted2,303 58.15 
Vested(1,712)99.42 
Canceled(852)95.04 
Unvested at April 30, 202317,360 $75.90 

As of April 30, 2023, the weighted-average grant date fair value of unvested RSUs subject to market-based vesting conditions was $102.4 million.

As of April 30, 2023, our total unrecognized compensation cost related to RSUs was $941.7 million. We expect to recognize this expense over the remaining weighted-average period of approximately 3.1 years.

Stock Options
    
Option activity for the three months ended April 30, 2023 was as follows:
(in thousands, except years and per share data)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(16)8.17 
Outstanding at April 30, 2023, all vested and exercisable2,212 $17.18 3.35$71,278 

As of April 30, 2023, there was no remaining unrecognized compensation cost related to stock option grants.

Employee Stock Purchase Plan

The Employee Stock Purchase Plan (“ESPP”) allows eligible employees to purchase shares of our common stock at a discounted price, normally through payroll deductions, subject to the terms of the ESPP and applicable law. As of April 30, 2023, 11.0 million shares of our common stock were reserved for issuance under the ESPP.

Compensation expense related to the ESPP was $4.2 million and $5.0 million for the three months ended April 30, 2023 and 2022.

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. During the three months ended April 30, 2022, we did not repurchase any shares of common stock. During the three months ended April 30, 2023, we repurchased and cancelled 0.7 million shares of common stock at an average price of $57.06 per share, for an aggregate amount of $40.5 million.
v3.23.1
Restructuring and Other Related Charges
 3 Months Ended
Apr. 30, 2023
Restructuring and Related Activities [Abstract]  
Restructuring and Other Related Charges Restructuring and Other Related Charges
For the three months ended April 30, 2023, restructuring and other related charges were $28.8 million, and primarily composed of $27.7 million for employee termination benefits, which included stock-based compensation expense of $5.0 million. There were no restructuring and other related charges in the three months ended April 30, 2022.

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 the first quarter of fiscal 2024, the board of directors authorized a restructuring plan (the “2024 Restructuring Plan”) that is designed to support our growth, scale and profitability objectives. We incurred costs associated with the 2024 Restructuring Plan related to employee termination benefits and other costs mainly in the first quarter of fiscal 2024 and expect that the execution of the 2024 Restructuring Plan will be substantially complete by the end of the second quarter of fiscal 2024.

These amounts are recorded to the Restructuring and other related charges within our consolidated statements of operations and comprehensive income (loss) as they are incurred.

The following table summarizes our restructuring liabilities during the three months ended April 30, 2023:
(in thousands)January 31, 2023AccrualsCash PaymentsApril 30, 2023
2023 Restructuring Plan
Employee termination benefits$384 $981 $(355)$1,010 
Other158 20 (178)— 
Total$542 $1,001 $(533)$1,010 
2024 Restructuring Plan
Employee termination benefits$— $21,826 $(19,434)$2,392 
Other— 1,075 (516)559 
Total$— $22,901 $(19,950)$2,951 
v3.23.1
Net Income (Loss) per Share Attributable to Common Stockholders
 3 Months Ended
Apr. 30, 2023
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:
Three Months Ended April 30,
(in thousands, except per share data)20232022
Numerator:
Net income (loss) attributable to common stockholders, basic$539 $(27,373)
Add: Interest expense on convertible senior notes357 — 
Net income (loss) attributable to common stockholders, diluted$896 $(27,373)
Denominator:
Weighted-average common shares outstanding, basic202,631 199,666 
Effect of dilutive securities5,440 — 
Weighted-average common shares outstanding, diluted208,071 199,666 
Net income (loss) per share attributable to common stockholders:
Basic$0.00 $(0.14)
Diluted$0.00 $(0.14)

Outstanding potentially dilutive securities that were excluded from the diluted per share calculations because they would have been antidilutive are as follows:
April 30,
(in thousands)20232022
RSUs7,191 8,685 
Stock options— 2,926 
ESPP35 437 
Convertible senior notes— 2,161 
Total antidilutive securities7,226 14,209 
v3.23.1
Income Taxes
 3 Months Ended
Apr. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Our tax provision from income taxes for interim periods is determined using an estimate of our annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, we update our estimate of the annual effective tax rate, and if our estimated tax rate changes, we make a cumulative adjustment. There were no material discrete items in the quarter.

Our income tax provision was $5.1 million and $1.8 million for the three months ended April 30, 2023 and 2022. The increase in income tax expense in the current year is a result of higher pre-tax income and limitations on net operating losses allowed to reduce taxable income.

We review the likelihood that we will realize the benefit of our deferred tax assets and, therefore, the need for valuation allowances, on a quarterly basis. We maintain a valuation allowance against certain deferred tax assets, including all U.S. consolidated group deferred tax assets and certain foreign deferred tax assets as a result of our history of losses in the U.S. and certain foreign jurisdictions, and the variability and uncertainty of our operating results. In the event we determine our deferred tax assets are realizable based on our assessment of relevant factors, an adjustment to the valuation allowance may increase income in the period such determination is made.

As of April 30, 2023, our gross unrecognized tax benefits totaled $49.5 million, excluding related accrued interest and penalties, of which $11.0 million would impact the effective tax rate if recognized. Our policy is to account for interest and penalties related to uncertain tax positions as a component of income tax provision. We do not expect material changes to our gross unrecognized tax benefits within the next 12 months.

We are subject to taxation in the U.S. and various foreign jurisdictions. Our tax years from inception in 2003 through April 30, 2023 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 under examination by the Irish Revenue Commissioners for the
period February 1, 2020 through January 31, 2021. We are not under examination in any other material jurisdictions. We believe that adequate amounts have been reserved in all jurisdictions.
v3.23.1
Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Apr. 30, 2023
Accounting Policies [Abstract]  
Principles of Consolidation Our condensed consolidated financial statements include those of DocuSign, Inc. and our subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The accompanying condensed consolidated financial statements have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) for interim financial information. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). Therefore, these unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our fiscal 2023 Annual Report on Form 10-K.
Basis of Presentation Our condensed consolidated financial statements are unaudited and have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and, in our opinion, include all adjustments of a normal recurring nature necessary for the fair statement of our financial position, results of operations and cash flows. Our condensed consolidated balance sheet as of January 31, 2023 was derived from audited financial statements but does not include all disclosures required by U.S. GAAP. The results of operations for the three months ended April 30, 2023 are not necessarily indicative of the results to be expected for the year ending January 31, 2024.
Fiscal Year Our fiscal year ends on January 31. References to fiscal 2024, for example, are to the fiscal year ending 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 condensed 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.
v3.23.1
Revenue (Tables)
 3 Months Ended
Apr. 30, 2023
Revenue from Contract with Customer [Abstract]  
Schedule of Revenues by Geographic Area Revenue by geographic area was as follows:
Three Months Ended April 30,
(in thousands)20232022
U.S.$493,058 $444,453 
International168,330 144,239 
Total revenue$661,388 $588,692
v3.23.1
Fair Value Measurements (Tables)
 3 Months Ended
Apr. 30, 2023
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:
April 30, 2023
(in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair Value
Level 1:
Cash equivalents(1)
Money market funds$331,532 $— $— $331,532 
Level 2:
Cash equivalents(1)
Commercial paper36,787 — (17)36,770 
U.S. governmental securities1,300 — — 1,300 
Available-for-sale securities
Commercial paper90,664 4 (149)90,519 
Corporate notes and bonds320,733 15 (3,183)317,565 
Municipal notes and bonds7,990 — (27)7,963 
U.S. governmental securities55,911 — (392)55,519 
Level 2 total513,385 19 (3,768)509,636 
Total$844,917 $19 $(3,768)$841,168 
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 April 30, 2023 and January 31, 2023, in addition to cash of $570.9 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 April 30, 2023, by remaining contractual maturities, were as follows (in thousands):
Due in one year or less$350,763 
Due in one to two years120,803 
$471,566 
Schedule of Convertible Senior Notes
(in thousands)April 30, 2023January 31, 2023
0.5% Convertible Senior Notes due in 2023
Aggregate principal amount$37,083 $37,083 
Fair value amount36,849 38,981 
0% Convertible Senior Notes due in 2024
Aggregate principal amount$690,000 $690,000 
Fair value amount661,910 655,666 
v3.23.1
Property and Equipment, Net (Tables)
 3 Months Ended
Apr. 30, 2023
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment Property and equipment consisted of the following:
(in thousands)April 30, 2023January 31, 2023
Computer and network equipment$137,152 $138,869 
Software, including capitalized software development costs124,123 114,524 
Furniture and office equipment20,277 20,897 
Leasehold improvements73,184 73,415 
354,736 347,705 
Less: Accumulated depreciation(222,046)(210,781)
132,690 136,924 
Work in progress73,336 62,968 
     Total$206,026 $199,892 
v3.23.1
Deferred Contract Acquisition and Fulfillment Costs (Tables)
 3 Months Ended
Apr. 30, 2023
Revenue from Contract with Customer [Abstract]  
Schedule of Deferred Contract Acquisition and Fulfillment Costs The following table represents a rollforward of our deferred contract acquisition and fulfillment costs:
Three Months Ended April 30,
(in thousands)20232022
Deferred Contract Acquisition Costs:
Beginning balance$355,389 $315,158 
Additions to deferred contract acquisition costs43,239 38,286 
Amortization of deferred contract acquisition costs(35,746)(32,227)
Cumulative translation adjustment826 (2,903)
Ending balance$363,708 $318,314 
Deferred Contract Fulfillment Costs:
Beginning balance$21,076 $19,088 
Additions to deferred contract fulfillment costs13,287 12,226 
Amortization of deferred contract fulfillment costs(12,484)(11,763)
Cumulative translation adjustment166 (627)
Ending balance$22,045 $18,924 
v3.23.1
Debt (Tables)
 3 Months Ended
Apr. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Carrying Value of Liability Component The net carrying amounts of the Notes were as follows:
(in thousands)April 30, 2023January 31, 2023
2023 Notes:
Principal$37,083 $37,083 
Less: unamortized transaction costs(70)(118)
Net carrying value of liability component$37,013 $36,965 
2024 Notes:
Principal$690,000 $690,000 
Less: unamortized transaction costs(3,018)(4,078)
Net carrying value of liability component$686,982 $685,922 
Interest expense recognized related to the Notes was as follows:
Three Months Ended April 30,
(in thousands)20232022
Contractual interest expense$357 $46 
Amortization of transaction costs1,109 1,101 
Total$1,466 $1,147 
Schedule of Capped Calls
The material terms of the capped call transactions were as follows:
(in thousands, except per share amounts)2023 Notes2024 Notes
Aggregate cost of capped calls$4,357 $31,395 
Initial strike price per share (1)
$71.50 $420.24 
Initial cap price per share (1)
$110.00 $525.30 
Shares of our common stock covered by the capped calls (1)
519 1,642 
(1) Subject to adjustments for certain events, such as merger events and tender offers, and anti-dilution adjustments
v3.23.1
Commitments and Contingencies (Tables)
 3 Months Ended
Apr. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Noncancelable Contractual Obligations As of April 30, 2023, our future noncancellable minimum payments due under these contractual obligations with a remaining term of more than one year were as follows:
Fiscal Period:Amount (in thousands)
2024, remainder$36,514 
202523,072 
202611,625 
20274,899 
20281,663 
Thereafter1,622 
Total$79,395 
v3.23.1
Stockholders' Equity (Tables)
 3 Months Ended
Apr. 30, 2023
Equity [Abstract]  
Schedule of RSU Activity Restricted stock unit (“RSU”) activity for the three months ended April 30, 2023 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 
Granted2,303 58.15 
Vested(1,712)99.42 
Canceled(852)95.04 
Unvested at April 30, 202317,360 $75.90 
Schedule of Stock Option Activity Option activity for the three months ended April 30, 2023 was as follows:
(in thousands, except years and per share data)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(16)8.17 
Outstanding at April 30, 2023, all vested and exercisable2,212 $17.18 3.35$71,278 
v3.23.1
Restructuring and Other Related Charges (Tables)
 3 Months Ended
Apr. 30, 2023
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring Liabilities Roll Forward
The following table summarizes our restructuring liabilities during the three months ended April 30, 2023:
(in thousands)January 31, 2023AccrualsCash PaymentsApril 30, 2023
2023 Restructuring Plan
Employee termination benefits$384 $981 $(355)$1,010 
Other158 20 (178)— 
Total$542 $1,001 $(533)$1,010 
2024 Restructuring Plan
Employee termination benefits$— $21,826 $(19,434)$2,392 
Other— 1,075 (516)559 
Total$— $22,901 $(19,950)$2,951 
v3.23.1
Net Income (Loss) per Share Attributable to Common Stockholders (Tables)
 3 Months Ended
Apr. 30, 2023
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:
Three Months Ended April 30,
(in thousands, except per share data)20232022
Numerator:
Net income (loss) attributable to common stockholders, basic$539 $(27,373)
Add: Interest expense on convertible senior notes357 — 
Net income (loss) attributable to common stockholders, diluted$896 $(27,373)
Denominator:
Weighted-average common shares outstanding, basic202,631 199,666 
Effect of dilutive securities5,440 — 
Weighted-average common shares outstanding, diluted208,071 199,666 
Net income (loss) per share attributable to common stockholders:
Basic$0.00 $(0.14)
Diluted$0.00 $(0.14)
Schedule of Antidilutive Securities Outstanding potentially dilutive securities that were excluded from the diluted per share calculations because they would have been antidilutive are as follows:
April 30,
(in thousands)20232022
RSUs7,191 8,685 
Stock options— 2,926 
ESPP35 437 
Convertible senior notes— 2,161 
Total antidilutive securities7,226 14,209 
v3.23.1
Revenue - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Jan. 31, 2023
Disaggregation of Revenue [Line Items]      
Remaining performance obligations $ 1,800.0    
Contract assets 17.5   $ 12.4
Revenue recognized that was included in contract liability balance at the beginning of the period $ 510.5 $ 450.7  
Payment term 30 days    
Product concentration risk | Revenue | Subscription      
Disaggregation of Revenue [Line Items]      
Concentration risk percentage 97.00% 97.00%  
v3.23.1
Revenue - Performance Obligation (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-05-01
Apr. 30, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation, percentage 58.00%
Remaining performance obligations, period of recognition 12 months
v3.23.1
Revenue - Revenue by Geographic Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total revenue $ 661,388 $ 588,692
U.S.    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total revenue 493,058 444,453
International    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Total revenue $ 168,330 $ 144,239
v3.23.1
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Apr. 30, 2023
Jan. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost $ 844,917 $ 643,215
Gross Unrealized Gains 19 105
Gross Unrealized Losses (3,768) (4,501)
Estimated Fair Value 841,168 638,819
Cash 570,900 578,900
Level 2 | Available-for-sale securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost 513,385 510,206
Gross Unrealized Gains 19 105
Gross Unrealized Losses (3,768) (4,501)
Estimated Fair Value 509,636 505,810
Money market funds | Level 1 | Cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost 331,532 133,009
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Estimated Fair Value 331,532 133,009
Commercial paper | Level 2 | Cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost 36,787 9,992
Gross Unrealized Gains 0 0
Gross Unrealized Losses (17) (2)
Estimated Fair Value 36,770 9,990
Commercial paper | Level 2 | Available-for-sale securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost 90,664 85,957
Gross Unrealized Gains 4 0
Gross Unrealized Losses (149) (258)
Estimated Fair Value 90,519 85,699
U.S. governmental securities | Level 2 | Cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost 1,300  
Gross Unrealized Gains 0  
Gross Unrealized Losses 0  
Estimated Fair Value 1,300  
U.S. governmental securities | Level 2 | Available-for-sale securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost 55,911 38,344
Gross Unrealized Gains 0 4
Gross Unrealized Losses (392) (405)
Estimated Fair Value 55,519 37,943
Corporate notes and bonds | Level 2 | Available-for-sale securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost 320,733 367,930
Gross Unrealized Gains 15 101
Gross Unrealized Losses (3,183) (3,771)
Estimated Fair Value 317,565 364,260
Municipal notes and bonds | Level 2 | Available-for-sale securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Amortized Cost 7,990 7,983
Gross Unrealized Gains 0 0
Gross Unrealized Losses (27) (65)
Estimated Fair Value $ 7,963 $ 7,918
v3.23.1
Fair Value Measurements - Fair Value of Available-for-Sale Marketable Securities by Remaining Contractual Maturities (Details) - Short-term Investments
$ in Thousands
Apr. 30, 2023
USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]  
Due in one year or less $ 350,763
Due in one to two years 120,803
Total available-for-sale securities $ 471,566
v3.23.1
Fair Value Measurements - Fair Value of Convertible Notes (Details) - Convertible Debt - USD ($)
$ in Thousands
Apr. 30, 2023
Jan. 31, 2023
Jan. 31, 2021
Sep. 30, 2018
2023 Notes:        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Debt interest rate percentage       0.50%
Aggregate principal amount $ 37,083 $ 37,083    
Fair value amount 36,849 38,981    
Convertible Senior Notes Due 2024        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Debt interest rate percentage     0.00%  
Aggregate principal amount 690,000 690,000    
Fair value amount $ 661,910 $ 655,666    
v3.23.1
Property and Equipment, Net (Details) - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Jan. 31, 2023
Property, Plant and Equipment [Line Items]      
Property and equipment, net $ 206,026   $ 199,892
Depreciation expense 17,800 $ 15,700  
Capitalized computer software, amortization 6,800 4,300  
Capitalized software costs 21,700 10,500  
Capitalized stock-based compensation 6,800 $ 2,800  
Property and equipment, excluding work in progress      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross 354,736   347,705
Less: Accumulated depreciation (222,046)   (210,781)
Property and equipment, net 132,690   136,924
Computer and network equipment      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross 137,152   138,869
Software, including capitalized software development costs      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross 124,123   114,524
Furniture and office equipment      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross 20,277   20,897
Leasehold improvements      
Property, Plant and Equipment [Line Items]      
Property, plant and equipment, gross 73,184   73,415
Work in progress      
Property, Plant and Equipment [Line Items]      
Property and equipment, net $ 73,336   $ 62,968
v3.23.1
Deferred Contract Acquisition and Fulfillment Costs (Details) - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Capitalized Contract Cost, Net [Roll Forward]    
Amortization of deferred contract acquisition costs $ (48,230) $ (43,990)
Deferred Contract Acquisition Costs:    
Capitalized Contract Cost, Net [Roll Forward]    
Beginning balance 355,389 315,158
Additions to deferred contract acquisition costs 43,239 38,286
Amortization of deferred contract acquisition costs (35,746) (32,227)
Cumulative translation adjustment 826 (2,903)
Ending balance 363,708 318,314
Deferred Contract Fulfillment Costs:    
Capitalized Contract Cost, Net [Roll Forward]    
Beginning balance 21,076 19,088
Additions to deferred contract acquisition costs 13,287 12,226
Amortization of deferred contract acquisition costs (12,484) (11,763)
Cumulative translation adjustment 166 (627)
Ending balance $ 22,045 $ 18,924
v3.23.1
Debt - Narrative (Details) - USD ($)
 1 Months Ended 3 Months Ended
Jan. 31, 2021
Sep. 30, 2018
Apr. 30, 2023
Apr. 30, 2022
May 31, 2023
Debt Conversion [Line Items]          
Settlement of capped calls, net of related costs     $ 23,688,000 $ 0  
Convertible Senior Notes Due 2023 | Capped Calls          
Debt Conversion [Line Items]          
Initial cap price (in usd per share)     $ 110.00    
Convertible Senior Notes Due 2023 | Convertible Debt          
Debt Conversion [Line Items]          
Principle on face amount of debt   $ 575,000,000      
Debt interest rate percentage   0.50%      
Proceeds from issuance of debt   $ 560,800,000      
Debt instrument, effective interest rate 1.00%        
Convertible Senior Notes Due 2023 | Convertible Debt | Capped Calls          
Debt Conversion [Line Items]          
Settlement of capped calls, net of related costs     $ 23,700,000    
Initial cap price (in usd per share)     $ 110.00    
Convertible Senior Notes Due 2024 | Capped Calls          
Debt Conversion [Line Items]          
Initial cap price (in usd per share)     525.30    
Convertible Senior Notes Due 2024 | Convertible Debt          
Debt Conversion [Line Items]          
Principle on face amount of debt $ 690,000,000        
Debt interest rate percentage 0.00%        
Proceeds from issuance of debt $ 677,300,000        
Debt instrument, effective interest rate 0.60%        
Convertible Senior Notes Due 2024 | Convertible Debt | Capped Calls          
Debt Conversion [Line Items]          
Initial cap price (in usd per share)     $ 525.30    
Credit Facility | Revolving Credit Facility          
Debt Conversion [Line Items]          
Carrying value of debt     $ 0    
Credit Facility | Revolving Credit Facility | Subsequent Event          
Debt Conversion [Line Items]          
Line of credit, maximum borrowing capacity         $ 500,000,000
Line of credit, additional borrowing amount         $ 250,000,000
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%    
v3.23.1
Debt - Carrying Value of Liability Component (Details) - Convertible Debt - USD ($)
$ in Thousands
Apr. 30, 2023
Jan. 31, 2023
2023 Notes:    
Debt Instrument [Line Items]    
Principal $ 37,083 $ 37,083
Less: unamortized transaction costs (70) (118)
Net carrying value of liability component 37,013 36,965
2024 Notes:    
Debt Instrument [Line Items]    
Principal 690,000 690,000
Less: unamortized transaction costs (3,018) (4,078)
Net carrying value of liability component $ 686,982 $ 685,922
v3.23.1
Debt - Interest Expense (Details) - Convertible Debt - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Debt Instrument [Line Items]    
Contractual interest expense $ 357 $ 46
Amortization of transaction costs 1,109 1,101
Total $ 1,466 $ 1,147
v3.23.1
Debt - Schedule of Capped Calls (Details) - Capped Calls
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
Apr. 30, 2023
USD ($)
$ / shares
shares
2023 Notes:  
Option Indexed to Issuer's Equity [Line Items]  
Initial cap price (in usd per share) $ 110.00
2024 Notes:  
Option Indexed to Issuer's Equity [Line Items]  
Initial cap price (in usd per share) $ 525.30
Convertible Debt | 2023 Notes:  
Option Indexed to Issuer's Equity [Line Items]  
Aggregate cost of capped calls | $ $ 4,357
Initial strike price (in usd per share) $ 71.50
Initial cap price (in usd per share) $ 110.00
Shares of our common stock covered by the capped calls | shares 519
Convertible Debt | 2024 Notes:  
Option Indexed to Issuer's Equity [Line Items]  
Aggregate cost of capped calls | $ $ 31,395
Initial strike price (in usd per share) $ 420.24
Initial cap price (in usd per share) $ 525.30
Shares of our common stock covered by the capped calls | shares 1,642
v3.23.1
Commitments and Contingencies - Narrative (Details)
$ in Millions
 1 Months Ended
May 31, 2023
USD ($)
Apr. 30, 2023
USD ($)
Jul. 19, 2022
stayed_case
May 31, 2022
USD ($)
May 17, 2022
putative_case
Loss Contingencies [Line Items]          
Letters of credit outstanding   $ 5.3      
Minimum commitment   $ 149.7   $ 175.0  
Number of putative shareholder derivative cases filed | putative_case         4
Number of cases stayed by court order | stayed_case     2    
Subsequent Event          
Loss Contingencies [Line Items]          
Minimum commitment $ 21.0        
Purchase commitment, term 2 years        
v3.23.1
Commitments and Contingencies - Future Purchase Obligations (Details)
$ in Thousands
Apr. 30, 2023
USD ($)
Purchase Obligation, Fiscal Year Maturity [Abstract]  
2024, remainder $ 36,514
2025 23,072
2026 11,625
2027 4,899
2028 1,663
Thereafter 1,622
Total $ 79,395
v3.23.1
Stockholders' Equity - Narrative (Details)
$ / shares in Units, shares in Thousands
 3 Months Ended
Apr. 30, 2023
USD ($)
plan
$ / shares
shares
Apr. 30, 2022
USD ($)
shares
Jan. 31, 2023
shares
Mar. 31, 2022
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Number of stock-based compensation plans | plan 3      
Unrecognized compensation cost, options $ 0      
Employee stock purchase plan, compensation expense $ 144,706,000 $ 110,723,000    
Stock repurchase program, authorized amount       $ 200,000,000
Repurchases of common stock (in shares) | shares 700 0    
Average price per share of stock repurchased (in usd per share) | $ / shares $ 57.06      
Aggregate purchase price of stock repurchased $ 40,472,000      
RSUs        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
RSUs outstanding (in shares) | shares 17,360   17,621  
Unrecognized compensation cost, RSUs $ 941,700,000      
Unrecognized compensation cost, remaining weighted-average period for recognition 3 years 1 month 6 days      
RSUs | Market Based Vesting Conditions        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Weighted-average grant date fair value of unvested equity awards other than options $ 102,400,000      
ESPP        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Employee stock purchase plan, compensation expense $ 4,200,000 $ 5,000,000    
2018 Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Reserved for future issuance (in shares) | shares 48,600      
2018 ESPP        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Reserved for future issuance (in shares) | shares 11,000      
v3.23.1
Stockholders' Equity - RSU Activity (Details) - RSUs
shares in Thousands
 3 Months Ended
Apr. 30, 2023
$ / shares
shares
Number of Units  
Unvested at beginning of period (in shares) | shares 17,621
Granted (in shares) | shares 2,303
Vested (in shares) | shares (1,712)
Canceled (in shares) | shares (852)
Unvested at end of period (in shares) | shares 17,360
Weighted-Average Grant Date Fair Value  
Unvested at beginning of period (in usd per share) | $ / shares $ 81.30
Granted (in usd per share) | $ / shares 58.15
Vested (in usd per share) | $ / shares 99.42
Canceled (in usd per share) | $ / shares 95.04
Unvested at end of period (in usd per share) | $ / shares $ 75.90
v3.23.1
Stockholders' Equity - Stock Option Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 12 Months Ended
Apr. 30, 2023
Jan. 31, 2023
Number of Options    
Beginning balance (in shares) 2,228  
Exercised (in shares) (16)  
Ending balance (in shares) 2,212 2,228
Weighted-Average Exercise Price Per Share    
Beginning balance (in usd per share) $ 17.11  
Exercised (in usd per share) 8.17  
Ending balance (in usd per share) $ 17.18 $ 17.11
Weighted-Average Remaining Contractual Term (Years)    
Outstanding balance 3 years 4 months 6 days 3 years 7 months 6 days
Aggregate Intrinsic Value    
Outstanding balance $ 71,278 $ 96,839
v3.23.1
Restructuring and Related Activities - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Restructuring Cost and Reserve [Line Items]    
Restructuring and other related charges $ 28,772 $ 0
Stock-based compensation expense 144,706 $ 110,723
Employee termination benefits    
Restructuring Cost and Reserve [Line Items]    
Restructuring and other related charges 27,700  
Stock-based compensation expense $ 5,000  
v3.23.1
Restructuring and Related Activities - Schedule of Restructuring Liabilities Roll forward (Details)
$ in Thousands
 3 Months Ended
Apr. 30, 2023
USD ($)
2023 Restructuring Plan  
Restructuring Reserve [Roll Forward]  
Restructuring, beginning balance $ 542
Accruals 1,001
Cash Payments (533)
Restructuring, ending balance 1,010
2024 Restructuring Plan  
Restructuring Reserve [Roll Forward]  
Restructuring, beginning balance 0
Accruals 22,901
Cash Payments (19,950)
Restructuring, ending balance 2,951
Employee termination benefits | 2023 Restructuring Plan  
Restructuring Reserve [Roll Forward]  
Restructuring, beginning balance 384
Accruals 981
Cash Payments (355)
Restructuring, ending balance 1,010
Employee termination benefits | 2024 Restructuring Plan  
Restructuring Reserve [Roll Forward]  
Restructuring, beginning balance 0
Accruals 21,826
Cash Payments (19,434)
Restructuring, ending balance 2,392
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 1,075
Cash Payments (516)
Restructuring, ending balance $ 559
v3.23.1
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
 3 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Numerator:    
Net income (loss) attributable to common stockholders, basic $ 539 $ (27,373)
Add: Interest expense on convertible senior notes 357 0
Net income (loss) attributable to common stockholders, diluted $ 896 $ (27,373)
Denominator:    
Weighted-average common shares outstanding, basic (in shares) 202,631 199,666
Effect of dilutive securities (in shares) 5,440 0
Weighted-average common shares outstanding, diluted (in shares) 208,071 199,666
Net income (loss) per share attributable to common stockholders:    
Basic (in usd per share) $ 0.00 $ (0.14)
Diluted (in usd per share) $ 0.00 $ (0.14)
v3.23.1
Net Income (Loss) per Share Attributable to Common Stockholders - Antidilutive Securities (Details) - shares
shares in Thousands
 3 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities (in shares) 7,226 14,209
RSUs    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities (in shares) 7,191 8,685
Stock options    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities (in shares) 0 2,926
ESPP    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities (in shares) 35 437
Convertible senior notes    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities (in shares) 0 2,161
v3.23.1
Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Income Tax Disclosure [Abstract]    
Provision for income taxes $ 5,089 $ 1,848
Unrecognized tax benefits 49,500  
Unrecognized tax benefits that would impact effective tax rate $ 11,000