PURE STORAGE, INC., 10-Q filed on 9/15/2022
Quarterly Report
v3.22.2.2
Cover - shares
 6 Months Ended
Aug. 07, 2022
Sep. 07, 2022
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Aug. 07, 2022  
Document Transition Report false  
Entity File Number 001-37570  
Entity Registrant Name Pure Storage, Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 27-1069557  
Entity Address, Address Line One 650 Castro Street,  
Entity Address, Address Line Two Suite 400  
Entity Address, City or Town Mountain View  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94041  
City Area Code 800  
Local Phone Number 379-7873  
Title of 12(b) Security Class A Common Stock, $0.0001 par value per share  
Trading Symbol PSTG  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   298,918,217
Amendment Flag false  
Document Fiscal Year Focus 2023  
Document Fiscal Period Focus Q2  
Entity Central Index Key 0001474432  
Current Fiscal Year End Date --02-05  
v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Aug. 07, 2022
Feb. 06, 2022
Current assets:    
Cash and cash equivalents $ 652,567 $ 466,199
Marketable securities 709,889 947,073
Accounts receivable, net of allowance of $945 and $1,077 402,007 542,144
Inventory 52,265 38,942
Deferred commissions, current 70,918 81,589
Prepaid expenses and other current assets 133,360 116,232
Total current assets 2,021,006 2,192,179
Property and equipment, net 219,559 195,282
Operating lease right-of-use assets 172,392 111,763
Deferred commissions, non-current 164,763 164,718
Intangible assets, net 57,537 62,646
Goodwill 361,427 358,736
Restricted cash 10,544 10,544
Other assets, non-current 42,631 39,447
Total assets 3,049,859 3,135,315
Current liabilities:    
Accounts payable 64,005 70,704
Accrued compensation and benefits 150,924 205,431
Accrued expenses and other liabilities 93,752 78,511
Operating lease liabilities, current 33,872 35,098
Deferred revenue, current 609,549 562,576
Debt, current 573,205 0
Total current liabilities 1,525,307 952,320
Long-term debt 0 786,779
Operating lease liabilities, non-current 150,711 93,479
Deferred revenue, non-current 569,142 517,296
Other liabilities, non-current 43,341 31,105
Total liabilities 2,288,501 2,380,979
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Preferred stock, par value of $0.0001 per share— 20,000 shares authorized; no shares issued and outstanding 0 0
Class A and Class B common stock, par value of $0.0001 per share— 2,250,000 (Class A 2,000,000, Class B 250,000) shares authorized; 292,633 and 298,801 Class A shares issued and outstanding 30 29
Additional paid-in capital 2,392,173 2,470,943
Accumulated other comprehensive loss (20,099) (8,365)
Accumulated deficit (1,610,746) (1,708,271)
Total stockholders’ equity 761,358 754,336
Total liabilities and stockholders’ equity $ 3,049,859 $ 3,135,315
v3.22.2.2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Aug. 07, 2022
Feb. 06, 2022
Accounts receivable, allowance $ 1,077 $ 945
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 20,000,000 20,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, shares authorized (in shares) 2,250,000,000 2,250,000,000
Class A    
Common stock, par value per share (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, shares issued (in shares) 298,801,060 292,633,000
Common stock, shares outstanding (in shares) 298,801,060 292,633,000
Class B    
Common stock, par value per share (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 250,000,000 250,000,000
v3.22.2.2
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Revenue $ 646,772 $ 496,831 $ 1,267,177 $ 909,538
Cost of revenue 203,204 156,804 397,183 287,645
Gross profit 443,568 340,027 869,994 621,893
Operating expenses:        
Research and development 165,690 140,107 326,963 271,488
Sales and marketing 206,836 190,386 424,989 373,882
General and administrative 56,679 43,464 108,246 86,610
Total operating expenses 429,205 373,957 860,198 731,980
Income (loss) from operations 14,363 (33,930) 9,796 (110,087)
Other income (expense), net 585 (7,410) (5,596) (12,137)
Income (loss) before provision for income taxes 14,948 (41,340) 4,200 (122,224)
Provision for income taxes 4,026 3,925 4,813 7,247
Net income (loss) $ 10,922 $ (45,265) $ (613) $ (129,471)
Net income (loss) per share attributable to common stockholders, basic (in dollars per share) $ 0.04 $ (0.16) $ (0.00) $ (0.46)
Net income (loss) per share attributable to common stockholders, diluted (in dollars per share) $ 0.03 $ (0.16) $ (0.00) $ (0.46)
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic (in shares) 297,475 283,931 296,659 282,147
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted (in shares) 312,720 283,931 296,659 282,147
Product        
Revenue $ 414,603 $ 324,935 $ 815,764 $ 574,823
Cost of revenue 134,292 101,150 259,776 180,214
Subscription services        
Revenue 232,169 171,896 451,413 334,715
Cost of revenue $ 68,912 $ 55,654 $ 137,407 $ 107,431
v3.22.2.2
Condensed Consolidated Statements of Comprehensive Loss - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Statement of Comprehensive Income [Abstract]        
Net income (loss) $ 10,922 $ (45,265) $ (613) $ (129,471)
Other comprehensive loss:        
Unrealized net losses on available-for-sale securities (1,222) (1,192) (11,709) (3,411)
Less: reclassification adjustment for net gains on available-for-sale securities included in net loss (32) (95) (25) (518)
Change in unrealized net losses on available-for-sale securities (1,254) (1,287) (11,734) (3,929)
Comprehensive income (loss) $ 9,668 $ (46,552) $ (12,347) $ (133,400)
v3.22.2.2
Condensed Consolidated Statements of Stockholders’ Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Cumulative-effect adjustment from adoption of ASU 2020-06
Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
Cumulative-effect adjustment from adoption of ASU 2020-06
Accumulated Other Comprehensive Income
Accumulated Deficit
Accumulated Deficit
Cumulative-effect adjustment from adoption of ASU 2020-06
Restricted Stock Units
Restricted Stock Units
Common Stock
Restricted Stock Units
Additional Paid-in Capital
Beginning balance (in shares) at Jan. 31, 2021     278,363                
Beginning balance at Jan. 31, 2021 $ 750,006   $ 28 $ 2,307,580   $ 7,410 $ (1,565,012)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of common stock upon exercise of stock options (in shares)     1,897                
Issuance of common stock upon exercise of stock options 11,284     11,284              
Stock-based compensation expense 132,785     132,785              
Vesting of restricted stock units (in shares)                   6,327  
Vesting of restricted stock units                 $ 0    
Tax withholding on vesting of restricted stock units (in shares)     (305)                
Tax withholding on vesting of restricted stock units (6,564)     (6,564)              
Forfeiture of restricted stock (in shares)     (37)                
Forfeiture of restricted stock 0                    
Common stock issued under employee stock purchase plan (in shares)     2,185                
Common stock issued under employee stock purchase plan 17,726     17,726              
Repurchases of common stock (in shares)     (3,696)                
Repurchases of common stock (74,393)     (74,393)              
Other comprehensive loss (3,929)         (3,929)          
Net loss (129,471)           (129,471)        
Ending balance (in shares) at Aug. 01, 2021     284,734                
Ending balance at Aug. 01, 2021 697,444   $ 28 2,388,418   3,481 (1,694,483)        
Beginning balance (in shares) at May. 02, 2021     283,352                
Beginning balance at May. 02, 2021 715,473   $ 28 2,359,895   4,768 (1,649,218)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of common stock upon exercise of stock options (in shares)     566                
Issuance of common stock upon exercise of stock options 3,389     3,389              
Stock-based compensation expense 71,021     71,021              
Vesting of restricted stock units (in shares)                   3,246  
Vesting of restricted stock units                 0    
Tax withholding on vesting of restricted stock units (in shares)     (80)                
Tax withholding on vesting of restricted stock units (1,514)     (1,514)              
Forfeiture of restricted stock (in shares)     (37)                
Forfeiture of restricted stock 0                    
Repurchases of common stock (in shares)     (2,313)                
Repurchases of common stock (44,373)     (44,373)              
Other comprehensive loss (1,287)         (1,287)          
Net loss (45,265)           (45,265)        
Ending balance (in shares) at Aug. 01, 2021     284,734                
Ending balance at Aug. 01, 2021 697,444   $ 28 2,388,418   3,481 (1,694,483)        
Beginning balance (in shares) at Feb. 06, 2022     292,633                
Beginning balance at Feb. 06, 2022 754,336 $ (35,127) $ 29 2,470,943 $ (133,265) (8,365) (1,708,271) $ 98,138      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of common stock upon exercise of stock options (in shares)     1,857                
Issuance of common stock upon exercise of stock options 15,261     15,261              
Stock-based compensation expense 159,825     159,825              
Vesting of restricted stock units (in shares)                   7,150  
Vesting of restricted stock units                 0 $ 1 $ (1)
Tax withholding on vesting of restricted stock units (in shares)     (405)                
Tax withholding on vesting of restricted stock units (12,987)     (12,987)              
Common stock issued under employee stock purchase plan (in shares)     2,087                
Common stock issued under employee stock purchase plan 19,396     19,396              
Repurchases of common stock (in shares)     (4,521)                
Repurchases of common stock (126,999)     (126,999)              
Other comprehensive loss (11,734)         (11,734)          
Net loss (613)           (613)        
Ending balance (in shares) at Aug. 07, 2022     298,801                
Ending balance at Aug. 07, 2022 $ 761,358   $ 30 2,392,173   (20,099) (1,610,746)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Accounting Standards Update [Extensible Enumeration] Accounting Standards Update 2020-06 [Member]                    
Beginning balance (in shares) at May. 08, 2022     297,132                
Beginning balance at May. 08, 2022 $ 727,094   $ 30 2,367,577   (18,845) (1,621,668)        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance of common stock upon exercise of stock options (in shares)     624                
Issuance of common stock upon exercise of stock options 3,828     3,828              
Stock-based compensation expense 84,140     84,140              
Vesting of restricted stock units (in shares)                   3,542  
Vesting of restricted stock units                 $ 0    
Tax withholding on vesting of restricted stock units (in shares)     (110)                
Tax withholding on vesting of restricted stock units (2,793)     (2,793)              
Repurchases of common stock (in shares)     (2,387)                
Repurchases of common stock (60,579)     (60,579)              
Other comprehensive loss (1,254)         (1,254)          
Net loss 10,922           10,922        
Ending balance (in shares) at Aug. 07, 2022     298,801                
Ending balance at Aug. 07, 2022 $ 761,358   $ 30 $ 2,392,173   $ (20,099) $ (1,610,746)        
v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (613) $ (129,471)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 46,549 38,099
Amortization of debt discount and debt issuance costs 1,603 15,154
Stock-based compensation expense 158,135 131,763
Other 1,428 6,516
Changes in operating assets and liabilities, net of effect of acquisition:    
Accounts receivable, net 140,007 102,506
Inventory (12,492) (3,242)
Deferred commissions 10,626 (8,041)
Prepaid expenses and other assets (15,563) (24,955)
Operating lease right-of-use assets 16,820 14,818
Accounts payable (6,529) (9,267)
Accrued compensation and other liabilities (37,824) (40,952)
Operating lease liabilities (21,442) (14,205)
Deferred revenue 98,807 66,117
Net cash provided by operating activities 379,512 144,840
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (57,994) (55,499)
Acquisition, net of cash acquired (1,989) 0
Purchases of marketable securities (17,251) (317,371)
Sales of marketable securities 0 114,038
Maturities of marketable securities 240,993 169,770
Net cash (used in) provided by investing activities 163,759 (89,062)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net proceeds from exercise of stock options 15,264 11,163
Proceeds from issuance of common stock under employee stock purchase plan 19,396 17,726
Principal payments on borrowings and finance lease obligations (251,577) (605)
Tax withholding on vesting of equity awards (12,987) (6,564)
Repurchases of common stock (126,999) (74,393)
Net cash used in financing activities (356,903) (52,673)
Net increase in cash, cash equivalents and restricted cash 186,368 3,105
Cash, cash equivalents and restricted cash, beginning of period 476,743 347,691
Cash, cash equivalents and restricted cash, end of period 663,111 350,796
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD    
Cash and cash equivalents 652,567 340,252
Restricted cash 10,544 10,544
Cash, cash equivalents and restricted cash, end of period 663,111 350,796
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 742 2,520
Cash paid for income taxes 4,817 6,050
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION    
Property and equipment purchased but not yet paid $ 11,187 $ 7,402
v3.22.2.2
Business Overview
 6 Months Ended
Aug. 07, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Business Overview Business OverviewPure Storage, Inc. (the Company, we, us, or other similar pronouns) was originally incorporated in the state of Delaware in October 2009 under the name OS76, Inc. In January 2010, we changed our name to Pure Storage, Inc. We are headquartered in Mountain View, California and have wholly owned subsidiaries throughout the world.
v3.22.2.2
Basis of Presentation and Summary of Significant Accounting Policies
 6 Months Ended
Aug. 07, 2022
Accounting Policies [Abstract]  
Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Summary of Significant Accounting Policies
Basis of Presentation and Principles of Consolidation
We operate using a 52/53 week fiscal year ending on the first Sunday after January 30, which for fiscal 2022 was February 6, 2022 and for fiscal 2023 will be February 5, 2023. The second quarter of fiscal 2022 and 2023 ended on August 1, 2021 and August 7, 2022. Unless otherwise stated, all dates refer to our fiscal year and fiscal quarters.
The condensed consolidated financial statements include the accounts of the Company and our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Unaudited Interim Consolidated Financial Information
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. 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 such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for fiscal 2022.
In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year 2023 or any future period.
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and accompanying notes. Actual results could differ from these estimates and assumptions due to risks and uncertainties. Such estimates include, but are not limited to, the determination of standalone selling price for revenue arrangements with multiple performance obligations when the price at which the performance obligation sold separately or observable past transactions are not available, useful lives of intangible assets and property and equipment, the period of benefit for deferred contract costs for commissions, stock-based compensation, provision for income taxes including related reserves, fair value of equity assumed, intangible and tangible assets acquired and liabilities assumed for business combinations. Management bases its estimates on historical experience and on various other assumptions which management believes to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.
Restricted Cash
Restricted cash is comprised of cash collateral for letters of credit related to our leases and for a vendor credit card program. At the end of fiscal 2022 and the second quarter of fiscal 2023, we had restricted cash of $10.5 million.
Recently Adopted Accounting Pronouncements
In October 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires entities to apply revenue guidance to recognize and measure contract assets and contract liabilities acquired in a business combination on the acquisition date, instead of measuring them at fair value. We early adopted this guidance in the second quarter of fiscal 2023 on a prospective basis. The adoption of this standard did not have a material impact on our condensed consolidated financial statements.
In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity, which simplifies the accounting for certain convertible instruments, amends guidance on derivative scope exceptions for contracts in an entity's own equity, and requires the use of the if-converted method to calculate the impact of convertible instruments on diluted earnings per share (EPS) which results in the inclusion of the effect of share settlement for instruments that may be settled in cash or shares. We adopted the standard as of February 7, 2022 using the modified retrospective basis. Adoption resulted in an adjustment of $133.3 million to reclassify the remaining balance of the conversion feature recorded in additional paid-in capital to convertible senior notes (the Notes) of $35.2 million and accumulated deficit of $98.1 million on the condensed consolidated balance sheet. Accordingly, we no longer carry an equity component of the Notes. There was no impact to diluted EPS as the inclusion of potential shares of common stock related to the Notes was anti-dilutive. For further information, see Note 6, Debt, and Note 11, Net Income (Loss) per Share Attributable to Common Stockholders.
v3.22.2.2
Financial Instruments
 6 Months Ended
Aug. 07, 2022
Investments, Debt and Equity Securities [Abstract]  
Financial Instruments Financial Instruments
Fair Value Measurements
We define fair value as the exchange price that would be received from sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We measure our financial assets and liabilities at fair value at each reporting period using a fair value hierarchy which requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement.
Three levels of inputs may be used to measure fair value:
•Level 1 - Observable inputs are unadjusted quoted prices in active markets for identical assets or liabilities;
•Level 2 - Observable inputs are quoted prices for similar assets and liabilities in active markets or inputs other than quoted prices that are observable for the assets or liabilities, either directly or indirectly through market corroboration, for substantially the full term of the financial instruments; and
•Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. These inputs are based on our own assumptions used to measure assets and liabilities at fair value and require significant management judgment or estimation.
Cash Equivalents, Marketable Securities and Restricted Cash
We measure our cash equivalents, marketable securities, and restricted cash at fair value on a recurring basis. We classify our cash equivalents, marketable securities and restricted cash within Level 1 or Level 2 because they are valued using either quoted market prices or inputs other than quoted prices which are directly or indirectly observable in the market, including readily-available pricing sources for the identical underlying security which may not be actively traded. Our fixed income available-for-sale securities consist of high quality, investment grade securities from diverse issuers. The valuation techniques used to measure the fair value of our marketable securities were derived from non-binding market consensus prices that are corroborated by observable market data or quoted market prices for similar instruments. The following tables summarize our cash equivalents, marketable securities and restricted cash by significant investment categories and their classification within the valuation hierarchy at the end of fiscal 2022 and the second quarter of fiscal 2023 (in thousands):
 
 At the End of Fiscal 2022
 Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value		Cash EquivalentsMarketable SecuritiesRestricted Cash
Level 1      
Money market accounts$— $— $— $29,275 $18,731 $— $10,544 
Level 2      
U.S. government treasury notes336,303 512 (2,176)334,639 — 334,639 — 
U.S. government agencies49,153 49 (193)49,009 — 49,009 — 
Corporate debt securities491,728 384 (4,731)487,381 200 487,181 — 
Foreign government bonds12,333 37 (17)12,353 — 12,353 — 
Asset-backed securities60,361 111 (453)60,019 — 60,019 — 
Municipal bonds3,950 — (78)3,872 — 3,872 — 
Total$953,828 $1,093 $(7,648)$976,548 $18,931 $947,073 $10,544 


 
At the End of the Second Quarter of Fiscal 2023
 Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value		Cash EquivalentsMarketable
Securities		Restricted Cash
Level 1
Money market accounts$— $— $— $259,665 $249,121 $— $10,544 
Level 2       
U.S. government treasury notes240,405 2 (4,930)235,477 — 235,477 — 
U.S. government agencies31,788 6 (466)31,328 — 31,328 — 
Corporate debt securities407,433 2 (11,530)395,905 — 395,905 — 
Foreign government bonds4,800 — (68)4,732 — 4,732 — 
Asset-backed securities39,800 — (1,123)38,677 — 38,677 — 
Municipal bonds3,950 — (180)3,770 — 3,770 — 
Total$728,176 $10 $(18,297)$969,554 $249,121 $709,889 $10,544 
 
The amortized cost and estimated fair value of our marketable securities are shown below by contractual maturity (in thousands):
 
At the End of the Second Quarter of Fiscal 2023
 Amortized CostFair Value
Due within one year$361,702 $357,361 
Due in one to five years366,474 352,528 
Total$728,176 $709,889 
 
Unrealized losses on our debt securities have not been recorded into income because we do not intend to sell nor is it more likely than not that we will be required to sell these investments prior to recovery of their amortized cost basis. The decline in fair value of our debt securities is largely due to the rising interest rate environment driven by current market conditions that has resulted in higher credit spreads. The credit ratings associated with our debt securities are mostly unchanged, are highly rated and the issuers continue to make timely principal and interest payments. As a result, there were no credit or non-credit impairment charges recorded in the second quarter and the first two quarters of fiscal 2022 and 2023.
The following table presents gross unrealized losses and fair values for those investments that were in a continuous unrealized loss position at the end of fiscal 2022 and the second quarter of fiscal 2023, aggregated by investment category (in thousands):
At the End of Fiscal 2022
Less than 12 monthsGreater than 12 monthsTotal
Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
U.S. government treasury notes$193,359 $(2,176)$— $— $193,359 $(2,176)
U.S. government agencies24,388 (193)— — 24,388 (193)
Corporate debt securities374,223 (4,708)1,182 (23)375,405 (4,731)
Foreign government bonds4,098 (17)— — 4,098 (17)
Asset-backed securities37,608 (453)— — 37,608 (453)
Municipal bonds3,872 (78)— — 3,872 (78)
Total$637,548 $(7,625)$1,182 $(23)$638,730 $(7,648)

At the End of the Second Quarter of Fiscal 2023
 Less than 12 monthsGreater than 12 monthsTotal
 Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
U.S. government treasury notes$213,567 $(4,289)$19,827 $(641)$233,394 $(4,930)
U.S. government agencies23,322 (466)— — 23,322 (466)
Corporate debt securities372,210 (10,651)20,974 (879)393,184 (11,530)
Foreign government bonds4,732 (68)— — 4,732 (68)
Asset-backed securities37,938 (1,092)739 (31)38,677 (1,123)
Municipal bonds1,429 (81)2,341 (99)3,770 (180)
Total$653,198 $(16,647)$43,881 $(1,650)$697,079 $(18,297)
 
Realized gains or losses on sale of marketable securities were not significant for all periods presented.
Fair Value Measurements of Other Financial Instruments
We measure the fair value of our Notes on a quarterly basis for disclosure purposes. We consider the fair value of the Notes at the end of the second quarter of fiscal 2023 to be a Level 2 measurement due to its limited trading activity. Refer to Note 6 for the carrying amount and estimated fair value of our Notes at the end of the second quarter of fiscal 2023.
v3.22.2.2
Balance Sheet Components
 6 Months Ended
Aug. 07, 2022
Balance Sheet Components Disclosure [Abstract]  
Balance Sheet Components Balance Sheet Components
Inventory
Inventory consists of the following (in thousands):
At the End of
Fiscal 2022
Second Quarter of Fiscal 2023
Raw materials$15,734 $25,608 
Finished goods23,208 26,657 
Inventory$38,942 $52,265 
Property and Equipment, Net
Property and equipment, net consists of the following (in thousands):
 
At the End of
 Fiscal 2022
Second Quarter of Fiscal 2023
Test equipment$266,672 $283,607 
Computer equipment and software206,053 232,947 
Furniture and fixtures8,652 8,491 
Leasehold improvements47,443 52,299 
Capitalized software development costs8,528 14,496 
Total property and equipment537,348 591,840 
Less: accumulated depreciation and amortization(342,066)(372,281)
Property and equipment, net$195,282 $219,559 

Depreciation and amortization expense related to property and equipment was $15.2 million and $19.5 million for the second quarter of fiscal 2022 and 2023, and $29.7 million and $38.8 million for the first two quarters of fiscal 2022 and 2023.
Intangible Assets, Net
Intangible assets, net consist of the following (in thousands):
 
At the End of
 Fiscal 2022
Second Quarter of Fiscal 2023
Gross Carrying ValueAccumulated AmortizationNet Carrying AmountGross Carrying ValueAccumulated AmortizationNet Carrying Amount
Technology patents$19,125 $(13,544)$5,581 $19,125 $(14,185)$4,940 
Developed technology80,166 (30,304)49,862 83,211 (36,755)46,456 
Customer relationships6,459 (1,246)5,213 6,459 (1,706)4,753 
Trade name3,623 (1,633)1,990 3,623 (2,235)1,388 
Intangible assets, net$109,373 $(46,727)$62,646 $112,418 $(54,881)$57,537 
 
 Intangible assets amortization expense was $4.1 million and $4.1 million for the second quarter of fiscal 2022 and 2023, and $8.4 million and $8.2 million for the first two quarters of fiscal 2022 and 2023. At the end of the second quarter of fiscal 2023, the weighted-average remaining amortization period was 1.8 years for technology patents, 3.5 years for developed technology, 5.2 years for customer relationships, and 1.1 years for trade name. We recorded amortization of technology patents in general and administrative expenses due to their defensive nature, developed technology in cost of product revenue, and customer relationships and trade name in sales and marketing expenses in the condensed consolidated statements of operations.
At the end of the second quarter of fiscal 2023, future expected amortization expense for intangible assets is as follows (in thousands):
Fiscal Years EndingEstimated Future
Amortization Expense
Remainder of 2023$8,315 
202416,210 
202515,425 
202612,830 
20273,107 
Thereafter1,650 
Total$57,537 
Goodwill
The change in the carrying amount of goodwill is as follows (in thousands):
Amount
Balance at the end of fiscal 2022
$358,736 
Goodwill acquired2,691 
Balance at the end of the second quarter of fiscal 2023
$361,427 
There were no impairments to goodwill during the second quarter and first two quarters of fiscal 2022 and 2023.
Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consist of the following (in thousands):
At the End of
 Fiscal 2022
Second Quarter of Fiscal 2023
Taxes payable $6,312 $6,113 
Accrued marketing13,257 11,408 
Accrued cloud and outside services6,135 3,592 
Supply chain-related accruals6,991 15,892 
Accrued service logistics and professional services6,244 8,135 
Acquisition earn-out and deferred consideration5,211 9,457 
Customer deposits from contracts with customers10,409 12,671 
Other accrued liabilities23,952 26,484 
Total accrued expenses and other liabilities$78,511 $93,752 
v3.22.2.2
Deferred Revenue and Commissions
 6 Months Ended
Aug. 07, 2022
Revenue from Contract with Customer [Abstract]  
Deferred Revenue and Commissions Deferred Revenue and Commissions
Deferred Commissions
Deferred commissions consist of incremental costs paid to our sales force to obtain customer contracts.
Changes in total deferred commissions during the periods presented are as follows (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2022202320222023
Beginning balance
$185,875 $230,998 $187,924 $246,307 
Additions42,791 36,638 71,980 63,122 
Recognition of deferred commissions(32,701)(31,955)(63,939)(73,748)
Ending balance$195,965 $235,681 $195,965 $235,681 
Of the $235.7 million total deferred commissions balance at the end of the second quarter of fiscal 2023, we expect to recognize approximately 30% as commission expense over the next 12 months and the remainder thereafter.
There was no impairment related to capitalized commissions for the second quarter and first two quarters of fiscal 2022 and 2023.
Deferred Revenue
Deferred revenue primarily consists of amounts that have been invoiced but have not yet been recognized as revenue including performance obligations pertaining to subscription services.
Changes in total deferred revenue during the periods presented are as follows (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2022202320222023
Beginning balance
$866,160 $1,112,473 $843,697 $1,079,872 
Additions215,613 296,676 402,464 541,256 
Recognition of deferred revenue(171,959)(230,458)(336,347)(442,437)
Ending balance$909,814 $1,178,691 $909,814 $1,178,691 
Revenue recognized during the second quarter of fiscal 2022 and 2023 from deferred revenue at the beginning of each respective period was $155.3 million and $201.4 million. Revenue recognized during the first two quarters of fiscal 2022 and 2023 from deferred revenue at the beginning of each respective period was $258.6 million and $341.7 million.
Remaining Performance Obligations
Total remaining performance obligations (RPO) which is contracted but not recognized revenue was $1.5 billion at the end of the second quarter of fiscal 2023. RPO consists of both deferred revenue and non-cancelable amounts that are expected to be invoiced and recognized as revenue in future periods. Product orders are generally cancelable until delivery has occurred, and as such unfulfilled product orders are excluded from RPO. Of the $1.5 billion contracted but not recognized revenue at the end of the second quarter of fiscal 2023, we expect to recognize approximately 47% over the next 12 months, and the remainder thereafter.
v3.22.2.2
Debt
 6 Months Ended
Aug. 07, 2022
Debt Disclosure [Abstract]  
Debt Debt
Convertible Senior Notes
In April 2018, we issued $575.0 million in principal amount of 0.125% convertible senior notes due 2023, in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act and received proceeds of $562.1 million, after deducting the underwriters’ discounts and commissions. The Notes are governed by an indenture (the Indenture) between us, as the issuer, and U.S. Bank National Association, as trustee. The Notes are our senior unsecured obligations. The Indenture does 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 Notes mature on April 15, 2023 unless repurchased or redeemed by us or converted in accordance with their terms prior to the maturity date. Interest is payable semi-annually in arrears on April 15 and October 15 of each year.
The Notes are convertible for up to 21,884,155 shares of our common stock at an initial conversion rate of approximately 38.0594 shares of common stock per $1,000 principal amount, which is equal to an initial conversion price of approximately $26.27 per share of common stock, subject to adjustment. Holders of the Notes may surrender their Notes for conversion at their option at any time prior to the close of business on the business day immediately preceding October 15, 2022, only under the following circumstances:
•during any fiscal quarter, if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price for the Notes on each applicable trading day;

•during the five business day period after any five consecutive trading day period (the measurement period), in which the trading price per $1,000 principal amount of Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our common stock and the conversion rate for the Notes on each such trading day;

•if we call any or all of the Notes for redemption, at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; or

•upon the occurrence of specified corporate events.
On or after October 15, 2022 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their Notes at any time regardless of the foregoing circumstances. Upon conversion, holders will receive cash, shares of our common stock, or a combination of cash and shares of our common stock based on the settlement method predetermined by us on or prior to October 15, 2022.
The conversion price will be subject to adjustment in some events. Following certain corporate events that occur prior to the maturity date or following our issuance of a notice of redemption, we will increase the conversion rate for a holder who elects to convert its Notes in connection with such corporate event or during the related redemption period in certain circumstances. Additionally, upon the occurrence of a corporate event that constitutes a “fundamental change” per the Indenture, holders of the Notes may require us to repurchase for cash all or a portion of the Notes at a purchase price equal to 100% of the principal amount of the Notes plus accrued and unpaid contingent interest.
Subsequent to April 19, 2021, we may redeem for cash all or any portion of the Notes, at our option, if the last reported sale price of our common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending not more than two trading days immediately preceding the date on which we provide notice of redemption at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the Notes.
As described in Note 2, we adopted ASU 2020-06 effective February 7, 2022 using the modified retrospective method, under which financial results reported in prior periods were not adjusted. Prior to the adoption of this standard, we separated the Notes into liability and equity components. The carrying amount of the liability component was determined by measuring the fair value of a similar debt instrument that does not have an associated conversion feature. 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 Notes as a whole and determined to be $136.3 million. This amount was recorded in additional paid-in capital with the offset representing a debt discount that was amortized to interest expense over the term of the Notes using the effective interest method. Total debt issuance costs incurred of $12.9 million were allocated to the liability and equity components based on their relative carrying amounts, of which $9.8 million was allocated to the liability component as a reduction to the Notes and $3.1 million was allocated to the equity component of the Notes as a reduction to additional paid-in capital. The issuance costs attributable to the liability component was also being amortized to interest method over the term of the Notes using the effective interest method. Upon adoption of ASU 2020-06, we combined the liability and equity components assuming that the instrument was accounted for as a single liability from inception to the date of adoption, resulting in the elimination of the debt discount. Similarly, we combined the liability and equity components of the debt issuance costs, the result of which is presented as a reduction to the Notes and being amortized to interest expense using the effective interest method over the remaining term of the Notes.
The Notes consisted of the following (in thousands):
At the End of
Fiscal 2022
Second Quarter of Fiscal 2023
Liability:
Principal$575,000 $575,000 
Less: debt discount, net of amortization(35,641)— 
Less: debt issuance costs, net of amortization(2,580)(1,795)
Net carrying amount of the Notes$536,779 $573,205 
Stockholders' equity recorded at issuance:
Allocated value of the conversion feature$136,333 $— 
Less: debt issuance costs(3,068)— 
Additional paid-in capital$133,265 $— 
The total estimated fair value of the Notes at the end of the second quarter of fiscal 2023 was $697.4 million. The fair value was determined based on the closing trading price per $100 of the Notes as of the last day of trading for the period. The fair value of the Notes is primarily affected by the trading price of our common stock and market interest rates. Based on the closing price of our common stock of $29.63 on the last day of the second quarter of fiscal 2023, the if-converted value of the Notes of $648.4 million was greater than its principal amount. At the end of the second quarter of fiscal 2023, the remaining term of the Notes is approximately eight months.
The following table sets forth total interest expense recognized related to the Notes for the second quarter and first two quarters of fiscal 2022 and 2023 (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2022202320222023
Amortization of debt discount$7,085 $— $13,845 $— 
Amortization of debt issuance costs513 649 1,003 1,297 
Total amortization of debt discount and debt issuance costs7,598 649 14,848 1,297 
Contractual interest expense181 179 356 358 
Total interest expense related to the Notes$7,779 $828 $15,204 $1,655 
Effective interest rate of the liability component5.6 %0.6 %5.6 %0.6 %

In connection with the offering of the Notes, we paid $64.6 million to enter into capped call transactions with certain of the underwriters and their affiliates (the Capped Calls), whereby we have the option to purchase up to a total of 21,884,155 shares of our common stock to offset the dilution and/or any cash payments we are required to make in excess of the principal amount upon conversion of the Notes at maturity, with such offset subject to a cap of $39.66 per share (which represents a premium of 100% over the last reported sales price of our common stock on April 4, 2018), subject to certain adjustments (the Cap Price). However, for conversions prior to maturity, the Capped Calls would be settled at their fair value, which may not completely offset, and may be substantially less than, the value of the consideration in excess of the principal amount of the Notes delivered upon such conversion. The cost of the Capped Calls was accounted for as a reduction to additional paid-in capital on the condensed consolidated balance sheet.

Impact on Earnings Per Share
Subsequent to the adoption of ASU 2020-06, we compute the potentially dilutive shares of common stock related to the Notes for periods we report net income using the if-converted method. Upon conversion at maturity, there will be no economic dilution from the Notes until the average market price of our common stock exceeds the Cap Price of $39.66 per share as exercise of the Capped Calls would offset any dilution from the Notes from the conversion price up to the Cap Price. However, for conversions prior to maturity, the Capped Calls would be settled at their fair value, which is expected to substantially, but not completely, offset the economic dilution from the Notes from the conversion price up to the Cap Price. Capped Calls are excluded from the calculation of diluted earnings per share, as they would be anti-dilutive.
Revolving Credit Facility
In August 2020, we entered into a Credit Agreement with a consortium of financial institutions and lenders that provides for a five-year, senior secured revolving credit facility of $300.0 million (Credit Facility). Proceeds from the Credit Facility may be used for general corporate purposes and working capital. The Credit Facility expires, absent default or early termination by us, on the earlier of (i) August 24, 2025 or (ii) 91 days prior to the stated maturity of the Notes unless, on such date and each subsequent day until the Notes are paid in full, the sum of our cash, cash equivalents and marketable securities and the aggregate unused commitments then available to us exceed $625.0 million.
The annual interest rates applicable to loans under the Credit Facility are, at our option, equal to either a base rate plus a margin ranging from 0.50% to 1.25% or LIBOR (based on one, three or six-month interest periods), subject to a floor of 0%, plus a margin ranging from 1.50% to 2.25%. Interest on revolving loans is payable quarterly in arrears with respect to loans based on the base rate and at the end of an interest period in the case of loans based on LIBOR (or at each three-month interval if the interest period is longer than three months). We are also required to pay a commitment fee on the unused portion of the commitments ranging from 0.25% to 0.40% per annum, payable quarterly in arrears.
In February 2022, we repaid, in full, the $250.0 million outstanding under the Credit Facility. Prior to repayment, the outstanding loan bore weighted-average interest at the one-month LIBOR of approximately 1.60% and 1.61% resulting in interest expense of $1.0 million and $2.0 million during the second quarter and first two quarters of fiscal 2022 and 1.61% resulting in interest expense of $0.3 million during the first quarter of fiscal 2023.
Loans under the Credit Facility are collateralized by substantially all of our assets and subject to certain restrictions and two financial ratios measured as of the last day of each fiscal quarter: a Consolidated Leverage Ratio not to exceed 4.5:1 and an Interest Coverage Ratio not to be less than 3:1. We were in compliance with all covenants under the Credit Facility at the end of the second quarter of fiscal 2023.
v3.22.2.2
Commitments and Contingencies
 6 Months Ended
Aug. 07, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Letters of Credit
At the end of fiscal 2022 and the second quarter of fiscal 2023, we had outstanding letters of credit in the aggregate amount of $6.7 million and $8.0 million in connection with our facility leases. The letters of credit are collateralized by either restricted cash or the Credit Facility and mature on various dates through September 2030.
Legal Matters
From time to time, we have become involved in claims and other legal matters arising in the normal course of business. We investigate these claims as they arise. Although claims are inherently unpredictable, we currently are not aware of any matters that we expect to have a material adverse effect on our business, financial position, results of operations or cash flows. Accordingly, no material loss contingency has been recorded on our condensed consolidated balance sheet as of the end of the second quarter of fiscal 2023.
Indemnification
Our arrangements generally include certain provisions for indemnifying customers against liabilities if our products or services infringe a third party’s intellectual property rights. Other guarantees or indemnification arrangements include guarantees of product and service performance and standby letters of credit for lease facilities. It is not possible to determine the maximum potential amount under these indemnification obligations due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. To date, we have not incurred any material costs as a result of such obligations and have not accrued any liabilities related to such obligations in the condensed consolidated financial statements. In addition, we indemnify our officers, directors and certain key employees while they are serving in good faith in their respective capacities. To date, there have been no claims under any indemnification provisions.
v3.22.2.2
Leases
 6 Months Ended
Aug. 07, 2022
Leases [Abstract]  
Leases Leases
We lease office facilities under non-cancelable operating lease agreements expiring through July 2032. Our lease agreements do not contain any material residual value guarantees or restrictive covenants.
In June 2022, we entered into an eight-year sublease through July 2030 for a new headquarters facility in Santa Clara, California with total lease payments of $100.2 million that include rent escalation and abatement clauses. The sublease of space with total lease payments of $89.4 million commenced in August 2022. Additional space with lease payments of $10.8 million will commence in May 2024 and end in July 2030. These lease payments are excluded from our future lease payments disclosure below.
We also lease certain test equipment under financing agreements. These finance leases are three years and contain a bargain purchase option at the end of the respective lease term. It is reasonably certain that the bargain purchase option will be exercised.
The components of lease costs during the periods presented were as follows (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2022202320222023
Fixed operating lease cost$9,309 $10,753 $19,065 $21,071 
Variable lease cost (1)
1,653 1,932 3,648 3,822 
Short-term lease cost (12 months or less)1,032 764 2,133 1,616 
Finance lease cost:
Amortization of finance lease right-of-use assets61 535 61 1,003 
Interest on finance lease liabilities5 59 5 99 
Total finance lease cost$66 $594 $66 $1,102 
Total lease cost$12,060 $14,043 $24,912 $27,611 
____________________________________
(1) Variable lease cost predominantly included common area maintenance charges.
Supplemental information related to leases is as follows:
At the End of
Fiscal 2022
Second Quarter of Fiscal 2023
Operating leases:
Weighted-average remaining lease term (in years)4.55.6
Weighted-average discount rate5.7 %6.1 %
Finance leases:
Finance lease right-of-use assets, gross(1)
$3,577 $11,315 
     Accumulated amortization(1)
(384)(1,387)
Finance lease right-of-use assets, net(1)
$3,193 $9,928 
Finance lease liabilities, current(2)
1,035 3,351 
Finance lease liabilities, non-current(3)
1,487 5,732 
Total finance lease liabilities$2,522 $9,083 
Weighted-average remaining lease term (in years)3.63.6
Weighted-average discount rate2.7 %4.2 %
____________________________________
(1) Included in the condensed consolidated balance sheets within property and equipment, net.
(2) Included in the condensed consolidated balance sheets within accrued expenses and other liabilities.
(3) Included in the condensed consolidated balance sheets within other liabilities, non-current.
Supplemental cash flow information related to leases is as follows:
First Two Quarters of Fiscal
20222023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows for operating leases$17,904 $27,150 
Financing cash outflows for finance leases$— $1,124 
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases$2,787 $77,449 
Finance leases$1,165 $7,737 
Future lease payments under our non-cancelable leases at the end of the second quarter of fiscal 2023 were as follows (in thousands):
Fiscal Years EndingOperating LeasesFinance Leases
The remainder of 2023$17,944 $2,669 
202439,675 3,626 
202545,542 2,917 
202637,380 296 
202722,120 — 
Thereafter66,241 — 
Total future lease payments228,902 9,508 
Less: imputed interest(44,319)(425)
Present value of total lease liabilities$184,583 $9,083 
v3.22.2.2
Stockholders' Equity
 6 Months Ended
Aug. 07, 2022
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
Preferred Stock
We have 20,000,000 authorized shares of undesignated preferred stock, the rights, preferences and privileges of which may be designated from time to time by our board of directors. At the end of the second quarter of fiscal 2023, there were no shares of preferred stock issued or outstanding.
Class A and Class B Common Stock
We have two classes of authorized common stock, Class A common stock, which we refer to as our "common stock", and Class B common stock. At the end of the second quarter of fiscal 2023, we had 2,000,000,000 authorized shares of Class A common stock and 250,000,000 authorized shares of Class B common stock, with each class having a par value of $0.0001 per share. At the end of the second quarter of fiscal 2023, 298,801,060 shares of Class A common stock were issued and outstanding.
Share Repurchase Program
In March 2022, our board of directors authorized the repurchase of up to an additional $250.0 million of our common stock. During the second quarter of fiscal 2023, we repurchased and retired 2,387,427 shares of common stock at an average purchase price of $25.35 per share for an aggregate repurchase price of $60.5 million. During the first two quarters of fiscal 2023, we repurchased and retired 4,521,717 shares of common stock at an average purchase price of $28.07 per share for an aggregate repurchase price of $126.9 million. At the end of the second quarter of fiscal 2023, $123.1 million remained available for future share repurchases under our current repurchase authorization.
v3.22.2.2
Equity Incentive Plans
 6 Months Ended
Aug. 07, 2022
Share-Based Payment Arrangement [Abstract]  
Equity Incentive Plans Equity Incentive Plans
Equity Incentive Plans
We maintain two equity incentive plans: the 2009 Equity Incentive Plan (the 2009 Plan) and the 2015 Equity Incentive Plan (the 2015 Plan). The 2015 Plan serves as the successor to our 2009 Plan and provides for grants of incentive stock options to our employees and non-statutory stock options, stock appreciation rights, restricted stock, restricted stock units (RSUs), performance stock awards, performance cash awards, and other forms of stock awards to our employees, directors and consultants. Our equity awards generally vest over a two to four year period and expire no later than ten years from the date of grant.
We net-share settle equity awards held by certain employees by withholding shares upon vesting to satisfy tax withholding obligations. The shares withheld to satisfy employee tax withholding obligations are returned to our 2015 Plan and will be available for future issuance. Payments for employees’ tax obligations to the tax authorities are recognized as a reduction to additional paid-in capital and reflected as a financing activity in our condensed consolidated statements of cash flows.
2015 Amended and Restated Employee Stock Purchase Plan
Under our Amended and Restated 2015 Employee Stock Purchase Plan (2015 ESPP), our board of directors (or a committee thereof) has the authority to establish the length and terms of the offering periods and purchase periods and the purchase price of the shares of common stock which may be purchased under the plan. The current offering terms allow eligible employees to purchase shares of our common stock at a discount through payroll deductions of up to 30% of their eligible compensation, subject to a cap of 3,000 shares on any purchase date, a dollar cap of $7,500 per purchase period, or $25,000 in any calendar year (as determined under applicable tax rules). The current terms also allow for a 24-month offering period beginning March 16th and September 16th of each year, with each offering period consisting of four 6-month purchase periods, subject to a reset provision. Further, currently, on each purchase date, eligible employees may purchase our common stock at a price per share equal to 85% of the lesser of the fair market value of our common stock (1) on the first trading day of the applicable offering period or (2) the purchase date.
Under the reset provision currently authorized, if the closing stock price on the offering date of a new offering falls below the closing stock price on the offering date of an ongoing offering, the ongoing offering would terminate immediately following the purchase of ESPP shares on the purchase date immediately preceding the new offering and participants in the terminated offering would automatically be enrolled in the new offering (ESPP reset), resulting in a modification charge to be recognized over the new offering period.
Stock-based compensation expense related to our 2015 ESPP was $8.8 million and $4.9 million during the second quarter of fiscal 2022 and 2023, and $16.4 million and $11.8 million during the first two quarters of fiscal 2022 and 2023. At the end of the second quarter of fiscal 2023, total unrecognized stock-based compensation cost related to our 2015 ESPP was $25.9 million, which is expected to be recognized over a weighted-average period of 1.5 years.
Stock Options
A summary of the stock option activity under our equity incentive plans and related information is as follows:
 
 Options Outstanding
 Number of
Shares		Weighted-
Average
Exercise Price		Weighted-
Average
Remaining
Contractual Life (In Years)		Aggregate
Intrinsic
Value (in thousands)
Balance at the end of fiscal 202212,268,938 $10.25 3.5$198,266 
Options exercised(1,857,462)8.22   
Options forfeited(10,172)1.81   
Balance at the end of the second quarter of fiscal 2023
10,401,304 $10.63 3.2$198,081 
Vested and exercisable at the end of the second quarter of fiscal 2023
10,001,776 $10.93 3.0$186,994 
 
The aggregate intrinsic value of options vested and exercisable at the end of the second quarter of fiscal 2023 is calculated based on the difference between the exercise price and the closing price of $29.63 of our common stock on the last day of the second quarter of fiscal 2023.
Stock-based compensation expense recognized related to stock options was $2.0 million and $1.3 million during the second quarter of fiscal 2022 and 2023, and $4.3 million and $2.8 million during the first two quarters of fiscal 2022 and 2023.
At the end of the second quarter of fiscal 2023, total unrecognized employee stock-based compensation cost related to outstanding options was $4.6 million, which is expected to be recognized over a weighted-average period of 1.3 years.
RSUs and Performance RSUs (PRSUs)
A summary of the RSU and PRSU activity under our equity incentive plans and related information is as follows:
 Number of
RSUs and PRSUs Outstanding		Weighted-
Average
Grant Date
Fair Value		Aggregate
Intrinsic
Value (in thousands)
Unvested balance at the end of fiscal 202228,712,878 $19.53 $757,446 
Granted
11,570,282 30.24 
Vested(7,150,242)19.29 
Forfeited(2,001,382)20.96 
Unvested balance at the end of the second quarter of fiscal 2023
31,131,536 $23.47 $922,485 
RSUs granted during the first two quarters of fiscal 2023 include PRSUs for 1,147,187 shares of common stock, at a target percentage of 100%, with both performance and service vesting conditions. The actual PRSUs earned will range from 0% to 150% of the target number granted, contingent upon the degree to which the fiscal 2023 performance condition is met. Any portion of shares that are not earned will be canceled. In addition, during the first quarter of fiscal 2023, we issued 647,586 PRSUs and canceled 34,960 PRSUs based on the actual attainment of fiscal 2022 performance conditions for previously issued PRSUs, with these PRSUs issued subject to service condition through the remaining vesting periods.
Stock-based compensation expense recognized related to RSUs and PRSUs was $59.0 million and $77.3 million during the second quarter of fiscal 2022 and 2023, and $109.9 million and $143.5 million during the first two quarters of fiscal 2022 and 2023. At the end of the second quarter of fiscal 2023, total unrecognized employee stock-based compensation cost related to unvested RSUs and PRSUs was $660.9 million, which is expected to be recognized over a weighted-average period of 2.9 years.
Restricted Stock
A summary of the restricted stock activity under our 2015 Plan and related information is as follows:
 Number of
Restricted Stock Outstanding		Weighted-
Average
Grant Date
Fair Value		Aggregate
Intrinsic
Value (in thousands)
Unvested balance at the end of fiscal 202254,977 $20.02 $1,450 
Vested(54,977)20.02 
Forfeited— — 
Unvested balance at the end of the second quarter of fiscal 2023
— $— $— 
Stock-based compensation expense recognized related to restricted stock was $0.6 million and $1.2 million during the second quarter and first two quarters of fiscal 2022 and de minimis during the first two quarters of fiscal 2023.
Stock-Based Compensation Expense
The following table summarizes the components of stock-based compensation expense recognized in the condensed consolidated statements of operations (in thousands):
 
 
Second Quarter of Fiscal
First Two Quarters of Fiscal
 2022202320222023
Cost of revenue—product$1,566 $2,607 $2,913 $4,470 
Cost of revenue—subscription services5,137 5,808 9,543 11,164 
Research and development
35,125 41,575 65,546 78,092 
Sales and marketing18,358 17,954 35,166 36,299 
General and administrative10,243 15,620 18,595 28,110 
Total stock-based compensation expense$70,429 $83,564 $131,763 $158,135 
The tax benefit related to stock-based compensation expense for all periods presented was not material.
v3.22.2.2
Net Income (Loss) per Share Attributable to Common Stockholders
 6 Months Ended
Aug. 07, 2022
Earnings Per Share [Abstract]  
Net Income (Loss) per Share Attributable to Common Stockholders Net Income (Loss) per Share Attributable to Common Stockholders
Basic and diluted net income (loss) per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. 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, less shares subject to repurchase. Diluted net income (loss) per share attributable to common stockholders is computed by giving effect to all potentially dilutive common stock equivalents, including our outstanding stock options, common stock related to unvested RSUs and PRSUs, unvested restricted stock, the shares underlying the conversion option in our Notes to the extent dilutive, and common stock issuable pursuant to the ESPP. The adoption of ASU 2020-06 eliminates the treasury stock method and instead requires the application of the if-converted method to calculate the impact of our Notes on diluted EPS. All potentially dilutive common stock equivalents, including from our Notes, have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is anti-dilutive for all periods presented.
The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders (in thousands, except per share data):
 
Second Quarter of Fiscal
First Two Quarters of Fiscal
 2022202320222023
Net income (loss)$(45,265)$10,922 $(129,471)$(613)
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic283,931 297,475 282,147 296,659 
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted$283,931 $312,720 $282,147 $296,659 
Net income (loss) per share attributable to common stockholders, basic$(0.16)$0.04 $(0.46)$(0.00)
Net income (loss) per share attributable to common stockholders, diluted$(0.16)$0.03 $(0.46)$(0.00)
The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net income (loss) per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive (in thousands):
 
 
Second Quarter of Fiscal
First Two Quarters of Fiscal
 2022202320222023
Stock options to purchase common stock16,817 10,716 17,336 11,136 
Unvested RSUs and PRSUs35,006 32,570 33,905 30,860 
Unvested restricted stock310 — 391 12 
Shares related to convertible senior notes21,884 21,884 21,884 21,884 
Shares issuable pursuant to the ESPP2,203 1,002 2,203 1,002 
Total76,220 66,172 75,719 64,894 
v3.22.2.2
Other Income (Expense), Net
 6 Months Ended
Aug. 07, 2022
Other Income and Expenses [Abstract]  
Other Income (Expense), Net Other Income (Expense), Net
Other income (expense), net consists of the following (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2022202320222023
Interest income(1)
$2,330 $2,355 $5,104 $4,311 
Interest expense(2)
(9,005)(1,001)(17,664)(2,483)
Foreign currency transactions losses(1,234)(2,627)(1,198)(9,026)
Other income499 1,858 1,621 1,602 
Total other income (expense), net$(7,410)$585 $(12,137)$(5,596)
____________________________________
(1) Interest income includes interest income related to our cash, cash equivalents and marketable securities and non-cash interest income (expense) related to accretion (amortization) of the discount (premium) on marketable securities.
(2) Interest expense includes non-cash interest expense related to amortization of the debt discount, as applicable, and debt issuance costs and the contractual interest expense related to our debt.
v3.22.2.2
Income Taxes
 6 Months Ended
Aug. 07, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Our provision for income tax primarily reflects taxes on international operations and state income taxes. The difference between the income tax provision that would be derived by applying the statutory rate to our loss before income taxes and the income tax provision recorded was primarily attributable to changes in our valuation allowance, U.S. taxes on foreign income, stock-based compensation expense and state taxes driven by Internal Revenue Code (IRC) Section 174 capitalization.
At the end of the second quarter of fiscal 2023, there were no material changes to either the nature or the amounts of the uncertain tax positions previously determined for fiscal 2022.
v3.22.2.2
Segment Information
 6 Months Ended
Aug. 07, 2022
Segment Reporting [Abstract]  
Segment Information Segment InformationOur chief operating decision maker is our Chief Executive Officer. Our chief operating decision maker reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. Accordingly, we have a single reportable segment.
Disaggregation of Revenue
The following table depicts the disaggregation of revenue by geographic area based on the billing address of our customers and is consistent with how we evaluate our financial performance (in thousands):
 
Second Quarter of Fiscal
First Two Quarters of Fiscal
 2022202320222023
United States$353,176 $462,135 $648,283 $926,670 
Rest of the world143,655 184,637 261,255 340,507 
Total revenue$496,831 $646,772 $909,538 $1,267,177 

Long-Lived Assets by Geographic Area
Long-lived assets, which are comprised of property and equipment, net, by geographic area are summarized as follows (in thousands):
 
At the End of
 Fiscal 2022
Second Quarter of Fiscal 2023
United States$187,228 $207,865 
Rest of the world8,054 11,694 
Total long-lived assets$195,282 $219,559 
v3.22.2.2
Basis of Presentation and Summary of Significant Accounting Policies - (Policies)
 6 Months Ended
Aug. 07, 2022
Accounting Policies [Abstract]  
Basis of Presentation and Principles of Consolidation
Basis of Presentation and Principles of Consolidation
We operate using a 52/53 week fiscal year ending on the first Sunday after January 30, which for fiscal 2022 was February 6, 2022 and for fiscal 2023 will be February 5, 2023. The second quarter of fiscal 2022 and 2023 ended on August 1, 2021 and August 7, 2022. Unless otherwise stated, all dates refer to our fiscal year and fiscal quarters.
The condensed consolidated financial statements include the accounts of the Company and our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Unaudited Interim Consolidated Financial Information
Unaudited Interim Consolidated Financial Information
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. 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 such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for fiscal 2022.
In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year 2023 or any future period.
Use of Estimates
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and accompanying notes. Actual results could differ from these estimates and assumptions due to risks and uncertainties. Such estimates include, but are not limited to, the determination of standalone selling price for revenue arrangements with multiple performance obligations when the price at which the performance obligation sold separately or observable past transactions are not available, useful lives of intangible assets and property and equipment, the period of benefit for deferred contract costs for commissions, stock-based compensation, provision for income taxes including related reserves, fair value of equity assumed, intangible and tangible assets acquired and liabilities assumed for business combinations. Management bases its estimates on historical experience and on various other assumptions which management believes to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.
Restricted Cash Restricted CashRestricted cash is comprised of cash collateral for letters of credit related to our leases and for a vendor credit card program.
Recently Adopted Accounting Pronouncements
Recently Adopted Accounting Pronouncements
In October 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires entities to apply revenue guidance to recognize and measure contract assets and contract liabilities acquired in a business combination on the acquisition date, instead of measuring them at fair value. We early adopted this guidance in the second quarter of fiscal 2023 on a prospective basis. The adoption of this standard did not have a material impact on our condensed consolidated financial statements.
In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity, which simplifies the accounting for certain convertible instruments, amends guidance on derivative scope exceptions for contracts in an entity's own equity, and requires the use of the if-converted method to calculate the impact of convertible instruments on diluted earnings per share (EPS) which results in the inclusion of the effect of share settlement for instruments that may be settled in cash or shares. We adopted the standard as of February 7, 2022 using the modified retrospective basis. Adoption resulted in an adjustment of $133.3 million to reclassify the remaining balance of the conversion feature recorded in additional paid-in capital to convertible senior notes (the Notes) of $35.2 million and accumulated deficit of $98.1 million on the condensed consolidated balance sheet. Accordingly, we no longer carry an equity component of the Notes. There was no impact to diluted EPS as the inclusion of potential shares of common stock related to the Notes was anti-dilutive.
Fair Value Measurements
Fair Value Measurements
We define fair value as the exchange price that would be received from sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We measure our financial assets and liabilities at fair value at each reporting period using a fair value hierarchy which requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement.
Three levels of inputs may be used to measure fair value:
•Level 1 - Observable inputs are unadjusted quoted prices in active markets for identical assets or liabilities;
•Level 2 - Observable inputs are quoted prices for similar assets and liabilities in active markets or inputs other than quoted prices that are observable for the assets or liabilities, either directly or indirectly through market corroboration, for substantially the full term of the financial instruments; and
•Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. These inputs are based on our own assumptions used to measure assets and liabilities at fair value and require significant management judgment or estimation.
v3.22.2.2
Financial Instruments - (Tables)
 6 Months Ended
Aug. 07, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash Equivalents, Marketable Securities and Restricted Cash The following tables summarize our cash equivalents, marketable securities and restricted cash by significant investment categories and their classification within the valuation hierarchy at the end of fiscal 2022 and the second quarter of fiscal 2023 (in thousands):
 
 At the End of Fiscal 2022
 Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value		Cash EquivalentsMarketable SecuritiesRestricted Cash
Level 1      
Money market accounts$— $— $— $29,275 $18,731 $— $10,544 
Level 2      
U.S. government treasury notes336,303 512 (2,176)334,639 — 334,639 — 
U.S. government agencies49,153 49 (193)49,009 — 49,009 — 
Corporate debt securities491,728 384 (4,731)487,381 200 487,181 — 
Foreign government bonds12,333 37 (17)12,353 — 12,353 — 
Asset-backed securities60,361 111 (453)60,019 — 60,019 — 
Municipal bonds3,950 — (78)3,872 — 3,872 — 
Total$953,828 $1,093 $(7,648)$976,548 $18,931 $947,073 $10,544 


 
At the End of the Second Quarter of Fiscal 2023
 Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value		Cash EquivalentsMarketable
Securities		Restricted Cash
Level 1
Money market accounts$— $— $— $259,665 $249,121 $— $10,544 
Level 2       
U.S. government treasury notes240,405 2 (4,930)235,477 — 235,477 — 
U.S. government agencies31,788 6 (466)31,328 — 31,328 — 
Corporate debt securities407,433 2 (11,530)395,905 — 395,905 — 
Foreign government bonds4,800 — (68)4,732 — 4,732 — 
Asset-backed securities39,800 — (1,123)38,677 — 38,677 — 
Municipal bonds3,950 — (180)3,770 — 3,770 — 
Total$728,176 $10 $(18,297)$969,554 $249,121 $709,889 $10,544 
Schedule of Amortized Cost and Estimated Fair Value
The amortized cost and estimated fair value of our marketable securities are shown below by contractual maturity (in thousands):
 
At the End of the Second Quarter of Fiscal 2023
 Amortized CostFair Value
Due within one year$361,702 $357,361 
Due in one to five years366,474 352,528 
Total$728,176 $709,889 
Schedule of Gross Unrealized Losses and Fair Values
The following table presents gross unrealized losses and fair values for those investments that were in a continuous unrealized loss position at the end of fiscal 2022 and the second quarter of fiscal 2023, aggregated by investment category (in thousands):
At the End of Fiscal 2022
Less than 12 monthsGreater than 12 monthsTotal
Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
U.S. government treasury notes$193,359 $(2,176)$— $— $193,359 $(2,176)
U.S. government agencies24,388 (193)— — 24,388 (193)
Corporate debt securities374,223 (4,708)1,182 (23)375,405 (4,731)
Foreign government bonds4,098 (17)— — 4,098 (17)
Asset-backed securities37,608 (453)— — 37,608 (453)
Municipal bonds3,872 (78)— — 3,872 (78)
Total$637,548 $(7,625)$1,182 $(23)$638,730 $(7,648)

At the End of the Second Quarter of Fiscal 2023
 Less than 12 monthsGreater than 12 monthsTotal
 Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
U.S. government treasury notes$213,567 $(4,289)$19,827 $(641)$233,394 $(4,930)
U.S. government agencies23,322 (466)— — 23,322 (466)
Corporate debt securities372,210 (10,651)20,974 (879)393,184 (11,530)
Foreign government bonds4,732 (68)— — 4,732 (68)
Asset-backed securities37,938 (1,092)739 (31)38,677 (1,123)
Municipal bonds1,429 (81)2,341 (99)3,770 (180)
Total$653,198 $(16,647)$43,881 $(1,650)$697,079 $(18,297)
v3.22.2.2
Balance Sheet Components - (Tables)
 6 Months Ended
Aug. 07, 2022
Balance Sheet Components Disclosure [Abstract]  
Schedule of Inventory
Inventory consists of the following (in thousands):
At the End of
Fiscal 2022
Second Quarter of Fiscal 2023
Raw materials$15,734 $25,608 
Finished goods23,208 26,657 
Inventory$38,942 $52,265 
Schedule of Property and Equipment, Net
Property and equipment, net consists of the following (in thousands):
 
At the End of
 Fiscal 2022
Second Quarter of Fiscal 2023
Test equipment$266,672 $283,607 
Computer equipment and software206,053 232,947 
Furniture and fixtures8,652 8,491 
Leasehold improvements47,443 52,299 
Capitalized software development costs8,528 14,496 
Total property and equipment537,348 591,840 
Less: accumulated depreciation and amortization(342,066)(372,281)
Property and equipment, net$195,282 $219,559 
Schedule of Intangible Assets, Net
Intangible assets, net consist of the following (in thousands):
 
At the End of
 Fiscal 2022
Second Quarter of Fiscal 2023
Gross Carrying ValueAccumulated AmortizationNet Carrying AmountGross Carrying ValueAccumulated AmortizationNet Carrying Amount
Technology patents$19,125 $(13,544)$5,581 $19,125 $(14,185)$4,940 
Developed technology80,166 (30,304)49,862 83,211 (36,755)46,456 
Customer relationships6,459 (1,246)5,213 6,459 (1,706)4,753 
Trade name3,623 (1,633)1,990 3,623 (2,235)1,388 
Intangible assets, net$109,373 $(46,727)$62,646 $112,418 $(54,881)$57,537 
Schedule of Expected Amortization Expenses for Intangible Assets
At the end of the second quarter of fiscal 2023, future expected amortization expense for intangible assets is as follows (in thousands):
Fiscal Years EndingEstimated Future
Amortization Expense
Remainder of 2023$8,315 
202416,210 
202515,425 
202612,830 
20273,107 
Thereafter1,650 
Total$57,537 
Schedule of Goodwill
The change in the carrying amount of goodwill is as follows (in thousands):
Amount
Balance at the end of fiscal 2022
$358,736 
Goodwill acquired2,691 
Balance at the end of the second quarter of fiscal 2023
$361,427 
Schedule of Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consist of the following (in thousands):
At the End of
 Fiscal 2022
Second Quarter of Fiscal 2023
Taxes payable $6,312 $6,113 
Accrued marketing13,257 11,408 
Accrued cloud and outside services6,135 3,592 
Supply chain-related accruals6,991 15,892 
Accrued service logistics and professional services6,244 8,135 
Acquisition earn-out and deferred consideration5,211 9,457 
Customer deposits from contracts with customers10,409 12,671 
Other accrued liabilities23,952 26,484 
Total accrued expenses and other liabilities$78,511 $93,752 
v3.22.2.2
Deferred Revenue and Commissions - (Tables)
 6 Months Ended
Aug. 07, 2022
Revenue from Contract with Customer [Abstract]  
Schedule of Deferred Commissions
Changes in total deferred commissions during the periods presented are as follows (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2022202320222023
Beginning balance
$185,875 $230,998 $187,924 $246,307 
Additions42,791 36,638 71,980 63,122 
Recognition of deferred commissions(32,701)(31,955)(63,939)(73,748)
Ending balance$195,965 $235,681 $195,965 $235,681 
Schedule of Deferred Revenue
Changes in total deferred revenue during the periods presented are as follows (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2022202320222023
Beginning balance
$866,160 $1,112,473 $843,697 $1,079,872 
Additions215,613 296,676 402,464 541,256 
Recognition of deferred revenue(171,959)(230,458)(336,347)(442,437)
Ending balance$909,814 $1,178,691 $909,814 $1,178,691 
v3.22.2.2
Debt - (Tables)
 6 Months Ended
Aug. 07, 2022
Debt Disclosure [Abstract]  
Schedule of Convertible Debt
The Notes consisted of the following (in thousands):
At the End of
Fiscal 2022
Second Quarter of Fiscal 2023
Liability:
Principal$575,000 $575,000 
Less: debt discount, net of amortization(35,641)— 
Less: debt issuance costs, net of amortization(2,580)(1,795)
Net carrying amount of the Notes$536,779 $573,205 
Stockholders' equity recorded at issuance:
Allocated value of the conversion feature$136,333 $— 
Less: debt issuance costs(3,068)— 
Additional paid-in capital$133,265 $— 
Schedule of Interest Expense
The following table sets forth total interest expense recognized related to the Notes for the second quarter and first two quarters of fiscal 2022 and 2023 (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2022202320222023
Amortization of debt discount$7,085 $— $13,845 $— 
Amortization of debt issuance costs513 649 1,003 1,297 
Total amortization of debt discount and debt issuance costs7,598 649 14,848 1,297 
Contractual interest expense181 179 356 358 
Total interest expense related to the Notes$7,779 $828 $15,204 $1,655 
Effective interest rate of the liability component5.6 %0.6 %5.6 %0.6 %
v3.22.2.2
Leases - (Tables)
 6 Months Ended
Aug. 07, 2022
Leases [Abstract]  
Components of Lease Cost
The components of lease costs during the periods presented were as follows (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2022202320222023
Fixed operating lease cost$9,309 $10,753 $19,065 $21,071 
Variable lease cost (1)
1,653 1,932 3,648 3,822 
Short-term lease cost (12 months or less)1,032 764 2,133 1,616 
Finance lease cost:
Amortization of finance lease right-of-use assets61 535 61 1,003 
Interest on finance lease liabilities5 59 5 99 
Total finance lease cost$66 $594 $66 $1,102 
Total lease cost$12,060 $14,043 $24,912 $27,611 
____________________________________
(1) Variable lease cost predominantly included common area maintenance charges.
Supplemental information related to leases is as follows:
At the End of
Fiscal 2022
Second Quarter of Fiscal 2023
Operating leases:
Weighted-average remaining lease term (in years)4.55.6
Weighted-average discount rate5.7 %6.1 %
Finance leases:
Finance lease right-of-use assets, gross(1)
$3,577 $11,315 
     Accumulated amortization(1)
(384)(1,387)
Finance lease right-of-use assets, net(1)
$3,193 $9,928 
Finance lease liabilities, current(2)
1,035 3,351 
Finance lease liabilities, non-current(3)
1,487 5,732 
Total finance lease liabilities$2,522 $9,083 
Weighted-average remaining lease term (in years)3.63.6
Weighted-average discount rate2.7 %4.2 %
____________________________________
(1) Included in the condensed consolidated balance sheets within property and equipment, net.
(2) Included in the condensed consolidated balance sheets within accrued expenses and other liabilities.
(3) Included in the condensed consolidated balance sheets within other liabilities, non-current.
Schedule of Supplemental Cash Flow Information Related to Leases
Supplemental cash flow information related to leases is as follows:
First Two Quarters of Fiscal
20222023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows for operating leases$17,904 $27,150 
Financing cash outflows for finance leases$— $1,124 
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases$2,787 $77,449 
Finance leases$1,165 $7,737 
Schedule of Future Operating Lease Payments
Future lease payments under our non-cancelable leases at the end of the second quarter of fiscal 2023 were as follows (in thousands):
Fiscal Years EndingOperating LeasesFinance Leases
The remainder of 2023$17,944 $2,669 
202439,675 3,626 
202545,542 2,917 
202637,380 296 
202722,120 — 
Thereafter66,241 — 
Total future lease payments228,902 9,508 
Less: imputed interest(44,319)(425)
Present value of total lease liabilities$184,583 $9,083 
v3.22.2.2
Equity Incentive Plans - (Tables)
 6 Months Ended
Aug. 07, 2022
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity Under Equity Incentive Plans and Related Information
A summary of the stock option activity under our equity incentive plans and related information is as follows:
 
 Options Outstanding
 Number of
Shares		Weighted-
Average
Exercise Price		Weighted-
Average
Remaining
Contractual Life (In Years)		Aggregate
Intrinsic
Value (in thousands)
Balance at the end of fiscal 202212,268,938 $10.25 3.5$198,266 
Options exercised(1,857,462)8.22   
Options forfeited(10,172)1.81   
Balance at the end of the second quarter of fiscal 2023
10,401,304 $10.63 3.2$198,081 
Vested and exercisable at the end of the second quarter of fiscal 2023
10,001,776 $10.93 3.0$186,994 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of the RSU and PRSU activity under our equity incentive plans and related information is as follows:
 Number of
RSUs and PRSUs Outstanding		Weighted-
Average
Grant Date
Fair Value		Aggregate
Intrinsic
Value (in thousands)
Unvested balance at the end of fiscal 202228,712,878 $19.53 $757,446 
Granted
11,570,282 30.24 
Vested(7,150,242)19.29 
Forfeited(2,001,382)20.96 
Unvested balance at the end of the second quarter of fiscal 2023
31,131,536 $23.47 $922,485 
Schedule of Restricted Stock Activity
A summary of the restricted stock activity under our 2015 Plan and related information is as follows:
 Number of
Restricted Stock Outstanding		Weighted-
Average
Grant Date
Fair Value		Aggregate
Intrinsic
Value (in thousands)
Unvested balance at the end of fiscal 202254,977 $20.02 $1,450 
Vested(54,977)20.02 
Forfeited— — 
Unvested balance at the end of the second quarter of fiscal 2023
— $— $— 
Summarizes the Components of Stock-Based Compensation
The following table summarizes the components of stock-based compensation expense recognized in the condensed consolidated statements of operations (in thousands):
 
 
Second Quarter of Fiscal
First Two Quarters of Fiscal
 2022202320222023
Cost of revenue—product$1,566 $2,607 $2,913 $4,470 
Cost of revenue—subscription services5,137 5,808 9,543 11,164 
Research and development
35,125 41,575 65,546 78,092 
Sales and marketing18,358 17,954 35,166 36,299 
General and administrative10,243 15,620 18,595 28,110 
Total stock-based compensation expense$70,429 $83,564 $131,763 $158,135 
v3.22.2.2
Net Income (Loss) per Share Attributable to Common Stockholders - (Tables)
 6 Months Ended
Aug. 07, 2022
Earnings Per Share [Abstract]  
Summary of Computation of Basic and Diluted Net Income (Loss) Income per Share Attributable to Common Stockholders
The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders (in thousands, except per share data):
 
Second Quarter of Fiscal
First Two Quarters of Fiscal
 2022202320222023
Net income (loss)$(45,265)$10,922 $(129,471)$(613)
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic283,931 297,475 282,147 296,659 
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted$283,931 $312,720 $282,147 $296,659 
Net income (loss) per share attributable to common stockholders, basic$(0.16)$0.04 $(0.46)$(0.00)
Net income (loss) per share attributable to common stockholders, diluted$(0.16)$0.03 $(0.46)$(0.00)
Summary of Weighted-average Outstanding Shares Excluded from Computation of Diluted Net Income (Loss) Income per Share Attributable to Common Stockholders
The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net income (loss) per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive (in thousands):
 
 
Second Quarter of Fiscal
First Two Quarters of Fiscal
 2022202320222023
Stock options to purchase common stock16,817 10,716 17,336 11,136 
Unvested RSUs and PRSUs35,006 32,570 33,905 30,860 
Unvested restricted stock310 — 391 12 
Shares related to convertible senior notes21,884 21,884 21,884 21,884 
Shares issuable pursuant to the ESPP2,203 1,002 2,203 1,002 
Total76,220 66,172 75,719 64,894 
v3.22.2.2
Other Income (Expense), Net - (Tables)
 6 Months Ended
Aug. 07, 2022
Other Income and Expenses [Abstract]  
Summary of Other Income (Expense)
Other income (expense), net consists of the following (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2022202320222023
Interest income(1)
$2,330 $2,355 $5,104 $4,311 
Interest expense(2)
(9,005)(1,001)(17,664)(2,483)
Foreign currency transactions losses(1,234)(2,627)(1,198)(9,026)
Other income499 1,858 1,621 1,602 
Total other income (expense), net$(7,410)$585 $(12,137)$(5,596)
____________________________________
(1) Interest income includes interest income related to our cash, cash equivalents and marketable securities and non-cash interest income (expense) related to accretion (amortization) of the discount (premium) on marketable securities.
(2) Interest expense includes non-cash interest expense related to amortization of the debt discount, as applicable, and debt issuance costs and the contractual interest expense related to our debt.
v3.22.2.2
Segment Information - (Tables)
 6 Months Ended
Aug. 07, 2022
Segment Reporting [Abstract]  
Schedule of Revenue by Geographic Area
The following table depicts the disaggregation of revenue by geographic area based on the billing address of our customers and is consistent with how we evaluate our financial performance (in thousands):
 
Second Quarter of Fiscal
First Two Quarters of Fiscal
 2022202320222023
United States$353,176 $462,135 $648,283 $926,670 
Rest of the world143,655 184,637 261,255 340,507 
Total revenue$496,831 $646,772 $909,538 $1,267,177 
Schedule of Long-Lived Assets by Geographic Area
Long-lived assets, which are comprised of property and equipment, net, by geographic area are summarized as follows (in thousands):
 
At the End of
 Fiscal 2022
Second Quarter of Fiscal 2023
United States$187,228 $207,865 
Rest of the world8,054 11,694 
Total long-lived assets$195,282 $219,559 
v3.22.2.2
Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) - USD ($)
$ in Thousands
Feb. 07, 2022
Aug. 07, 2022
Feb. 06, 2022
Aug. 01, 2021
Accounting Policies [Abstract]        
Restricted cash   $ 10,544 $ 10,544 $ 10,544
Reduction in additional paid-in capital $ 133,300      
Debt instrument increase net 35,200      
Accumulated deficit $ 98,100 $ 1,610,746 $ 1,708,271  
v3.22.2.2
Financial Instruments - Cash Equivalents, Marketable Securities and Restricted Cash (Details) - USD ($)
$ in Thousands
Aug. 07, 2022
Feb. 06, 2022
Debt Securities, Available-for-sale [Line Items]    
Fair Value $ 709,889  
Cash Equivalents 249,121 $ 18,931
Marketable Securities 709,889 947,073
Restricted Cash 10,544 10,544
Amortized Cost 728,176 953,828
Total gross unrealized gains 10 1,093
Total gross unrealized losses (18,297) (7,648)
Total fair value 969,554 976,548
Level 1 | Money market accounts    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 259,665 29,275
Cash Equivalents 249,121 18,731
Marketable Securities 0 0
Restricted Cash 10,544 10,544
Level 2 | U.S. government treasury notes    
Debt Securities, Available-for-sale [Line Items]    
Total 240,405 336,303
Gross Unrealized Gains 2 512
Gross Unrealized Losses (4,930) (2,176)
Fair Value 235,477 334,639
Cash Equivalents 0 0
Marketable Securities 235,477 334,639
Restricted Cash 0 0
Level 2 | U.S. government agencies    
Debt Securities, Available-for-sale [Line Items]    
Total 31,788 49,153
Gross Unrealized Gains 6 49
Gross Unrealized Losses (466) (193)
Fair Value 31,328 49,009
Cash Equivalents 0 0
Marketable Securities 31,328 49,009
Restricted Cash 0 0
Level 2 | Corporate debt securities    
Debt Securities, Available-for-sale [Line Items]    
Total 407,433 491,728
Gross Unrealized Gains 2 384
Gross Unrealized Losses (11,530) (4,731)
Fair Value 395,905 487,381
Cash Equivalents 0 200
Marketable Securities 395,905 487,181
Restricted Cash 0 0
Level 2 | Foreign government bonds    
Debt Securities, Available-for-sale [Line Items]    
Total 4,800 12,333
Gross Unrealized Gains 0 37
Gross Unrealized Losses (68) (17)
Fair Value 4,732 12,353
Cash Equivalents 0 0
Marketable Securities 4,732 12,353
Restricted Cash 0 0
Level 2 | Asset-backed securities    
Debt Securities, Available-for-sale [Line Items]    
Total 39,800 60,361
Gross Unrealized Gains 0 111
Gross Unrealized Losses (1,123) (453)
Fair Value 38,677 60,019
Cash Equivalents 0 0
Marketable Securities 38,677 60,019
Restricted Cash 0 0
Level 2 | Municipal bonds    
Debt Securities, Available-for-sale [Line Items]    
Total 3,950 3,950
Gross Unrealized Gains 0 0
Gross Unrealized Losses (180) (78)
Fair Value 3,770 3,872
Cash Equivalents 0 0
Marketable Securities 3,770 3,872
Restricted Cash $ 0 $ 0
v3.22.2.2
Financial Instruments - Amortized Cost and Estimated Fair Value (Details) - USD ($)
Aug. 07, 2022
Aug. 01, 2021
Amortized Cost    
Due within one year $ 361,702,000  
Due in one to five years 366,474,000  
Total 728,176,000  
Fair Value    
Due within one year 357,361,000  
Due in one to five years 352,528,000  
Total 709,889,000  
Impairment charge for unrealized losses $ 0 $ 0
v3.22.2.2
Financial Instruments - Gross Unrealized Losses and Fair Values (Details) - USD ($)
$ in Thousands
Aug. 07, 2022
Feb. 06, 2022
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months $ 653,198 $ 637,548
Unrealized Loss, Less than 12 months (16,647) (7,625)
Fair Value, Greater than 12 months 43,881 1,182
Unrealized Loss, Greater than 12 months (1,650) (23)
Fair Value, Total 697,079 638,730
Unrealized Loss, Total (18,297) (7,648)
U.S. government treasury notes    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 213,567 193,359
Unrealized Loss, Less than 12 months (4,289) (2,176)
Fair Value, Greater than 12 months 19,827 0
Unrealized Loss, Greater than 12 months (641) 0
Fair Value, Total 233,394 193,359
Unrealized Loss, Total (4,930) (2,176)
U.S. government agencies    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 23,322 24,388
Unrealized Loss, Less than 12 months (466) (193)
Fair Value, Greater than 12 months 0 0
Unrealized Loss, Greater than 12 months 0 0
Fair Value, Total 23,322 24,388
Unrealized Loss, Total (466) (193)
Corporate debt securities    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 372,210 374,223
Unrealized Loss, Less than 12 months (10,651) (4,708)
Fair Value, Greater than 12 months 20,974 1,182
Unrealized Loss, Greater than 12 months (879) (23)
Fair Value, Total 393,184 375,405
Unrealized Loss, Total (11,530) (4,731)
Foreign government bonds    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 4,732 4,098
Unrealized Loss, Less than 12 months (68) (17)
Fair Value, Greater than 12 months 0 0
Unrealized Loss, Greater than 12 months 0 0
Fair Value, Total 4,732 4,098
Unrealized Loss, Total (68) (17)
Asset-backed securities    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 37,938 37,608
Unrealized Loss, Less than 12 months (1,092) (453)
Fair Value, Greater than 12 months 739 0
Unrealized Loss, Greater than 12 months (31) 0
Fair Value, Total 38,677 37,608
Unrealized Loss, Total (1,123) (453)
Municipal bonds    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 1,429 3,872
Unrealized Loss, Less than 12 months (81) (78)
Fair Value, Greater than 12 months 2,341 0
Unrealized Loss, Greater than 12 months (99) 0
Fair Value, Total 3,770 3,872
Unrealized Loss, Total $ (180) $ (78)
v3.22.2.2
Balance Sheet Components - Inventory (Details) - USD ($)
$ in Thousands
Aug. 07, 2022
Feb. 06, 2022
Balance Sheet Components Disclosure [Abstract]    
Raw materials $ 25,608 $ 15,734
Finished goods 26,657 23,208
Inventory $ 52,265 $ 38,942
v3.22.2.2
Balance Sheet Components - Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Aug. 07, 2022
Feb. 06, 2022
Property Plant And Equipment [Line Items]    
Total property and equipment $ 591,840 $ 537,348
Less: accumulated depreciation and amortization (372,281) (342,066)
Property and equipment, net 219,559 195,282
Test equipment    
Property Plant And Equipment [Line Items]    
Total property and equipment 283,607 266,672
Computer equipment and software    
Property Plant And Equipment [Line Items]    
Total property and equipment 232,947 206,053
Furniture and fixtures    
Property Plant And Equipment [Line Items]    
Total property and equipment 8,491 8,652
Leasehold improvements    
Property Plant And Equipment [Line Items]    
Total property and equipment 52,299 47,443
Capitalized software development costs    
Property Plant And Equipment [Line Items]    
Total property and equipment $ 14,496 $ 8,528
v3.22.2.2
Balance Sheet Components - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Finite-Lived Intangible Assets [Line Items]        
Depreciation and amortization $ 19.5 $ 15.2 $ 38.8 $ 29.7
Intangible assets amortization expense $ 4.1 $ 4.1 $ 8.2 $ 8.4
Technology patents        
Finite-Lived Intangible Assets [Line Items]        
Useful Life (in years) 1 year 9 months 18 days      
Developed technology        
Finite-Lived Intangible Assets [Line Items]        
Useful Life (in years) 3 years 6 months      
Customer relationships        
Finite-Lived Intangible Assets [Line Items]        
Useful Life (in years) 5 years 2 months 12 days      
Trade name        
Finite-Lived Intangible Assets [Line Items]        
Useful Life (in years) 1 year 1 month 6 days      
v3.22.2.2
Balance Sheet Components - Intangible Assets, Net (Details) - USD ($)
$ in Thousands
Aug. 07, 2022
Feb. 06, 2022
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value $ 112,418 $ 109,373
Accumulated Amortization (54,881) (46,727)
Net Carrying Amount 57,537 62,646
Technology patents    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value 19,125 19,125
Accumulated Amortization (14,185) (13,544)
Net Carrying Amount 4,940 5,581
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value 83,211 80,166
Accumulated Amortization (36,755) (30,304)
Net Carrying Amount 46,456 49,862
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value 6,459 6,459
Accumulated Amortization (1,706) (1,246)
Net Carrying Amount 4,753 5,213
Trade name    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value 3,623 3,623
Accumulated Amortization (2,235) (1,633)
Net Carrying Amount $ 1,388 $ 1,990
v3.22.2.2
Balance Sheet Components - Expected Amortization Expenses for Intangible Assets (Details) - USD ($)
$ in Thousands
Aug. 07, 2022
Feb. 06, 2022
Balance Sheet Components Disclosure [Abstract]    
Remainder of 2023 $ 8,315  
2024 16,210  
2025 15,425  
2026 12,830  
2027 3,107  
Thereafter 1,650  
Net Carrying Amount $ 57,537 $ 62,646
v3.22.2.2
Balance Sheet Components - Goodwill (Details) - USD ($)
 3 Months Ended 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Goodwill [Roll Forward]        
Goodwill, Beginning Balance     $ 358,736,000  
Goodwill acquired     2,691,000  
Goodwill, Ending Balance $ 361,427,000   361,427,000  
Impairments to goodwill $ 0 $ 0 $ 0 $ 0
v3.22.2.2
Balance Sheet Components - Accrued Expenses and Other Liabilities (Details) - USD ($)
$ in Thousands
Aug. 07, 2022
Feb. 06, 2022
Balance Sheet Components Disclosure [Abstract]    
Taxes payable $ 6,113 $ 6,312
Accrued marketing 11,408 13,257
Accrued cloud and outside services 3,592 6,135
Supply chain-related accruals 15,892 6,991
Accrued service logistics and professional services 8,135 6,244
Acquisition earn-out and deferred consideration 9,457 5,211
Customer deposits from contracts with customers 12,671 10,409
Other accrued liabilities 26,484 23,952
Total accrued expenses and other liabilities $ 93,752 $ 78,511
v3.22.2.2
Deferred Revenue and Commissions - Deferred Commissions (Details) - USD ($)
 3 Months Ended 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Deferred Commissions [Roll Forward]        
Beginning balance $ 230,998,000 $ 185,875,000 $ 246,307,000 $ 187,924,000
Additions 36,638,000 42,791,000 63,122,000 71,980,000
Recognition of deferred commissions (31,955,000) (32,701,000) (73,748,000) (63,939,000)
Ending balance $ 235,681,000 195,965,000 $ 235,681,000 195,965,000
Commission expected to be recognized over the next 12 months (percent) 30.00%   30.00%  
Impairment of capitalized commissions $ 0 $ 0 $ 0 $ 0
v3.22.2.2
Deferred Revenue and Commissions - Deferred Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Contract Liability        
Additions $ 36,638 $ 42,791 $ 63,122 $ 71,980
Recognition of deferred revenue (31,955) (32,701) (73,748) (63,939)
Product Revenue and Support Subscription Revenue        
Contract Liability        
Beginning balance 1,112,473 866,160 1,079,872 843,697
Additions 296,676 215,613 541,256 402,464
Recognition of deferred revenue (230,458) (171,959) (442,437) (336,347)
Ending balance $ 1,178,691 $ 909,814 $ 1,178,691 $ 909,814
v3.22.2.2
Deferred Revenue and Commissions - Remaining Performance Obligation (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Revenue from Contract with Customer [Abstract]        
Deferred revenue recognized $ 201.4 $ 155.3 $ 341.7 $ 258.6
Contracted but not recognized revenue $ 1,500.0   $ 1,500.0  
Contracted but not recognized revenue expected to be recognized in the next 12 months (percent) 47.00%   47.00%  
v3.22.2.2
Deferred Revenue and Commissions - Remaining Performance Obligation Period (Details)
Aug. 07, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-08-08  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue expected to be recognized term (in months) 12 months
v3.22.2.2
Debt - Narrative (Details)
 1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Feb. 07, 2022
USD ($)
Aug. 24, 2020
USD ($)
financial_ratio
Feb. 28, 2022
USD ($)
Apr. 30, 2018
USD ($)
shares
day
$ / shares
Aug. 07, 2022
USD ($)
$ / shares
May 08, 2022
USD ($)
Aug. 01, 2021
USD ($)
Aug. 07, 2022
USD ($)
$ / shares
Aug. 01, 2021
USD ($)
Feb. 06, 2022
USD ($)
Apr. 04, 2018
$ / shares
Debt Instrument [Line Items]                      
Closing price of stock (in dollars per share) | $ / shares         $ 29.63     $ 29.63      
Revolving Credit Facility                      
Debt Instrument [Line Items]                      
Term of credit facility   5 years                  
Senior secured revolving credit facility maximum capacity   $ 300,000,000                  
Credit facility maturity period prior to stated maturity if out of compliance with liquidity threshold   91 days                  
Credit facility, daily minimum sum of cash and cash equivalents and aggregate unused commitments to prevent maturity prior to stated maturity   $ 625,000,000                  
Repayments of lines of credit     $ 250,000,000                
Interest during the period (percent)           1.61% 1.60%   1.61%    
Interest expense           $ 300,000 $ 1,000,000   $ 2,000,000    
Number of financial ratios | financial_ratio   2                  
Consolidated leverage ratio, maximum         4.5            
Interest coverage ratio, minimum         3            
Revolving Credit Facility | Minimum                      
Debt Instrument [Line Items]                      
Commitment Fee (percent)   0.25%                  
Revolving Credit Facility | Maximum                      
Debt Instrument [Line Items]                      
Commitment Fee (percent)   0.40%                  
Revolving Credit Facility | Base Rate | Minimum                      
Debt Instrument [Line Items]                      
Margin rate (percent)   0.50%                  
Revolving Credit Facility | Base Rate | Maximum                      
Debt Instrument [Line Items]                      
Margin rate (percent)   1.25%                  
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Interest Rate Floor                      
Debt Instrument [Line Items]                      
Effective interest rate (percent)   0.00%                  
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Minimum                      
Debt Instrument [Line Items]                      
Margin rate (percent)   1.50%                  
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum                      
Debt Instrument [Line Items]                      
Margin rate (percent)   2.25%                  
Capped Call                      
Debt Instrument [Line Items]                      
Payment for purchase of capped calls       $ 64,600,000              
Class A                      
Debt Instrument [Line Items]                      
Closing price of stock (in dollars per share) | $ / shares         $ 29.63     $ 29.63      
Class A | Capped Call                      
Debt Instrument [Line Items]                      
Exercise price (in dollars per share) | $ / shares                     $ 39.66
Exercise price premium percentage over last reported sales price                     100.00%
Convertible Senior Notes                      
Debt Instrument [Line Items]                      
Debt issuance costs         $ 1,795,000     $ 1,795,000   $ 2,580,000  
Long-term Debt         573,205,000     573,205,000   536,779,000  
Principal         575,000,000     575,000,000   575,000,000  
Additional Paid-in Capital                      
Debt Instrument [Line Items]                      
Allocated value of the conversion feature                   136,333,000  
Debt issuance costs                   $ 3,068,000  
Convertible Senior Notes                      
Debt Instrument [Line Items]                      
Principal amount       $ 575,000,000              
Interest rate (as a percent)       0.125%              
Proceeds from borrowings, net of issuance costs       $ 562,100,000              
Conversion percentage of principal amount plus accrued and unpaid contingent interest       100.00%              
Debt issuance costs $ 12,900,000                    
Convertible debt, fair value based on the closing trading price per $100 of the Notes         697,400,000     697,400,000      
If-converted value         648,400,000     $ 648,400,000      
Remaining term of the notes               8 months      
Interest expense         $ 828,000   $ 7,779,000 $ 1,655,000 $ 15,204,000    
Convertible Senior Notes | Liability Component                      
Debt Instrument [Line Items]                      
Debt issuance costs 9,800,000                    
Convertible Senior Notes | Class A                      
Debt Instrument [Line Items]                      
Number of convertible shares at initial conversion rate (in shares) | shares       21,884,155              
Conversion ratio (in shares)       0.0380594              
Conversion price (in dollars per share) | $ / shares       $ 26.27              
Redemption percentage of principal amount of Notes to be redeemed       100.00%              
Convertible Senior Notes | Class A | Any Fiscal Quarter Commencing After the Fiscal Quarter Ending on July 31, 2018                      
Debt Instrument [Line Items]                      
Threshold trading days | day       20              
Threshold consecutive trading days | day       30              
Threshold percentage of stock price trigger       130.00%              
Convertible Senior Notes | Class A | Five Business Day Period After any Five Consecutive Trading Day Period                      
Debt Instrument [Line Items]                      
Threshold consecutive trading days | day       5              
Threshold percentage of stock price trigger       98.00%              
Threshold business days | day       5              
Convertible Senior Notes | Class A | Immediately Preceding the Date on Which We Provide Notice of Redemption                      
Debt Instrument [Line Items]                      
Threshold trading days | day       2              
Convertible Senior Notes | Additional Paid-in Capital                      
Debt Instrument [Line Items]                      
Allocated value of the conversion feature 136,300,000                    
Debt issuance costs $ 3,100,000                    
v3.22.2.2
Debt - Convertible Debt (Details) - USD ($)
$ in Thousands
 12 Months Ended
Feb. 06, 2022
Aug. 07, 2022
Convertible Senior Notes    
Liability:    
Principal $ 575,000 $ 575,000
Less: debt discount, net of amortization (35,641) 0
Less: debt issuance costs, net of amortization (2,580) (1,795)
Net carrying amount of the Notes 536,779 573,205
Stockholders' equity recorded at issuance:    
Less: debt issuance costs (2,580) $ (1,795)
Additional Paid-in Capital    
Liability:    
Less: debt issuance costs, net of amortization (3,068)  
Stockholders' equity recorded at issuance:    
Allocated value of the conversion feature 136,333  
Less: debt issuance costs (3,068)  
Additional paid-in capital $ 133,265  
v3.22.2.2
Debt - Interest Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Debt Instrument [Line Items]        
Total amortization of debt discount and debt issuance costs     $ 1,603 $ 15,154
Convertible Senior Notes        
Debt Instrument [Line Items]        
Amortization of debt discount $ 0 $ 7,085 0 13,845
Amortization of debt issuance costs 649 513 1,297 1,003
Total amortization of debt discount and debt issuance costs 649 7,598 1,297 14,848
Contractual interest expense 179 181 358 356
Total interest expense related to the Notes $ 828 $ 7,779 $ 1,655 $ 15,204
Effective interest rate of the liability component ( as a percent) 0.60% 5.60% 0.60% 5.60%
v3.22.2.2
Commitments and Contingencies - Narrative (Details) - USD ($)
Aug. 07, 2022
Feb. 06, 2022
Commitments and Contingencies Disclosure [Abstract]    
Outstanding letters of credit $ 8,000,000 $ 6,700,000
Loss contingency $ 0  
v3.22.2.2
Leases - Narrative (Details) - USD ($)
$ in Thousands
 1 Months Ended
Jun. 30, 2022
May 31, 2024
Aug. 31, 2022
Aug. 07, 2022
Lessee, Lease, Description [Line Items]        
Sublease term 8 years      
Total lease payments that include rent escalation and abatement clauses $ 100,200     $ 228,902
Forecast        
Lessee, Lease, Description [Line Items]        
Total lease payments that include rent escalation and abatement clauses   $ 10,800    
Subsequent Event        
Lessee, Lease, Description [Line Items]        
Total lease payments that include rent escalation and abatement clauses     $ 89,400  
v3.22.2.2
Leases - Lease costs (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Leases [Abstract]        
Fixed operating lease cost $ 10,753 $ 9,309 $ 21,071 $ 19,065
Variable lease cost 1,932 1,653 3,822 3,648
Short-term lease cost (12 months or less) 764 1,032 1,616 2,133
Amortization of finance lease right-of-use assets 535 61 1,003 61
Interest on finance lease liabilities 59 5 99 5
Total finance lease cost 594 66 1,102 66
Total lease cost $ 14,043 $ 12,060 $ 27,611 $ 24,912
v3.22.2.2
Leases - Lease term and discount rate (Details) - USD ($)
$ in Thousands
Aug. 07, 2022
Feb. 06, 2022
Operating leases:    
Weighted-average remaining lease term (in years) 5 years 7 months 6 days 4 years 6 months
Weighted-average discount rate 6.10% 5.70%
Finance leases:    
Finance lease right-of-use assets, gross $ 11,315 $ 3,577
Accumulated amortization (1,387) (384)
Finance lease right-of-use assets, net 9,928 3,193
Finance lease liabilities, current 3,351 1,035
Finance lease liabilities, non-current 5,732 1,487
Present value of total lease liabilities $ 9,083 $ 2,522
Weighted-average remaining lease term (in years) 3 years 7 months 6 days 3 years 7 months 6 days
Weighted-average discount rate 4.20% 2.70%
v3.22.2.2
Leases - Supplemental cash flow information related to leases (Details) - USD ($)
$ in Thousands
 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Leases [Abstract]    
Operating cash outflows for operating leases $ 27,150 $ 17,904
Financing cash outflows for finance leases 1,124 0
Operating leases 77,449 2,787
Finance leases $ 7,737 $ 1,165
v3.22.2.2
Leases - Future minimum lease payments (Details) - USD ($)
$ in Thousands
Aug. 07, 2022
Jun. 30, 2022
Feb. 06, 2022
Operating Leases      
The remainder of 2023 $ 17,944    
2024 39,675    
2025 45,542    
2026 37,380    
2027 22,120    
Thereafter 66,241    
Total future lease payments 228,902 $ 100,200  
Less: imputed interest (44,319)    
Present value of total lease liabilities 184,583    
Finance Leases      
The remainder of 2023 2,669    
2024 3,626    
2025 2,917    
2026 296    
2027 0    
Thereafter 0    
Total future lease payments 9,508    
Less: imputed interest (425)    
Present value of total lease liabilities $ 9,083   $ 2,522
v3.22.2.2
Stockholders' Equity - Narrative (Details)
$ / shares in Units, $ in Millions
 3 Months Ended 6 Months Ended
Aug. 07, 2022
USD ($)
stock_class
$ / shares
shares
Aug. 07, 2022
USD ($)
stock_class
$ / shares
shares
Mar. 31, 2022
USD ($)
Feb. 06, 2022
$ / shares
shares
Class of Stock [Line Items]        
Preferred stock, shares authorized (in shares) 20,000,000 20,000,000   20,000,000
Preferred stock, shares issued (in shares) 0 0   0
Preferred stock, shares outstanding (in shares) 0 0   0
Number of classes of stock | stock_class 2 2    
Common stock, shares authorized (in shares) 2,250,000,000 2,250,000,000   2,250,000,000
Additional value approved for repurchase | $     $ 250.0  
Stock repurchased and retired (in shares) 2,387,427 4,521,717    
Shares repurchased and retired, average purchase price (in dollars per share) | $ / shares $ 25.35 $ 28.07    
Stock repurchased and retired during period, value | $ $ 60.5 $ 126.9    
Authorized amount remaining under stock repurchase program | $ $ 123.1 $ 123.1    
Class A        
Class of Stock [Line Items]        
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000   2,000,000,000
Common stock, par value per share (in dollars per share) | $ / shares $ 0.0001 $ 0.0001   $ 0.0001
Common stock, shares issued (in shares) 298,801,060 298,801,060   292,633,000
Common stock, shares outstanding (in shares) 298,801,060 298,801,060   292,633,000
Class B        
Class of Stock [Line Items]        
Common stock, shares authorized (in shares) 250,000,000 250,000,000   250,000,000
Common stock, par value per share (in dollars per share) | $ / shares $ 0.0001 $ 0.0001   $ 0.0001
v3.22.2.2
Equity Incentive Plans - Narrative (Details)
 3 Months Ended 6 Months Ended
Aug. 07, 2022
USD ($)
period
shares
May 08, 2022
shares
Aug. 01, 2021
USD ($)
Aug. 07, 2022
USD ($)
period
plan
shares
Aug. 01, 2021
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Number of equity incentive plans | plan       2  
Equity awards expiration period (no later than)       10 years  
Total stock-based compensation expense $ 83,564,000   $ 70,429,000 $ 158,135,000 $ 131,763,000
PRSUs          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Additional share issued | shares   647,586      
Cancelled (in shares) | shares   34,960      
2015 Employee Stock Purchase Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Employee stock purchase plan offering period       24 months  
Number of purchase periods | period 4     4  
Purchase period, term       6 months  
Total stock-based compensation expense $ 4,900,000   $ 8,800,000 $ 11,800,000 $ 16,400,000
Unrecognized stock-based compensation expense $ 25,900,000     $ 25,900,000  
Compensation cost (in years)       1 year 6 months  
2015 Employee Stock Purchase Plan | Class A          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Payroll deductions percentage 30.00%     30.00%  
Share cap for ESPP at purchase date (in shares) | shares 3,000     3,000  
Dollar cap per purchase period       $ 7,500  
Calendar year gap for ESPP contribution amount       $ 25,000  
Purchase price as percentage of fair market value of common stock       85.00%  
Minimum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period (in years)       2 years  
Maximum          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Vesting period (in years)       4 years  
v3.22.2.2
Equity Incentive Plans - Equity Incentive Plans (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Feb. 06, 2022
Number of Shares          
Beginning balance (in shares)     12,268,938    
Options exercised (in shares)     (1,857,462)    
Options forfeited (in shares)     (10,172)    
Ending balance (in shares) 10,401,304   10,401,304   12,268,938
Vested and exercisable (in shares) 10,001,776   10,001,776    
Weighted- Average Exercise Price          
Beginning balance (in dollars per share)     $ 10.25    
Options exercised (in dollars per share)     8.22    
Options forfeited/canceled (in dollars per share)     1.81    
Ending balance (in dollars per share) $ 10.63   10.63   $ 10.25
Weighted Average Exercise Price, Vested and exercisable (in dollars per share) $ 10.93   $ 10.93    
Weighted- Average Remaining Contractual Life (In Years)          
Weighted Average Remaining Contractual Life (in years)     3 years 2 months 12 days   3 years 6 months
Weighted Average Remaining Contractual Life, Vested and exercisable (in years)     3 years    
Aggregate Intrinsic Value          
Aggregate Intrinsic Value $ 198,081   $ 198,081   $ 198,266
Aggregate Intrinsic Value, Vested and exercisable $ 186,994   $ 186,994    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Closing price of stock (in dollars per share) $ 29.63   $ 29.63    
Total stock-based compensation expense $ 83,564 $ 70,429 $ 158,135 $ 131,763  
Unrecognized compensation cost, stock options 4,600   4,600    
Employee Stock Option          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Total stock-based compensation expense $ 1,300 $ 2,000 $ 2,800 $ 4,300  
Compensation cost (in years)     1 year 3 months 18 days    
Class A          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Closing price of stock (in dollars per share) $ 29.63   $ 29.63    
v3.22.2.2
Equity Incentive Plans - Restricted Stock Units (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Aug. 07, 2022
May 08, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Feb. 06, 2022
Weighted- Average Grant Date Fair Value            
Stock-based compensation expense $ 83,564   $ 70,429 $ 158,135 $ 131,763  
Unvested RSUs and PRSUs            
Number of RSUs and PRSUs Outstanding            
Unvested, Beginning balance (in shares)   28,712,878   28,712,878    
Granted (in shares)       11,570,282    
Vested (in shares)       (7,150,242)    
Forfeited (in shares)       (2,001,382)    
Unvested, Ending balance (in shares) 31,131,536     31,131,536    
Weighted- Average Grant Date Fair Value            
Beginning balance (in dollars per share)   $ 19.53   $ 19.53    
Granted (in dollars per share)       30.24    
Vested (in dollars per share)       19.29    
Forfeited (in dollars per share)       20.96    
Ending balance (in dollars per share) $ 23.47     $ 23.47    
Aggregate Intrinsic Value $ 922,485     $ 922,485   $ 757,446
Stock-based compensation expense 77,300   $ 59,000 143,500 $ 109,900  
Compensation not yet recognized $ 660,900     $ 660,900    
Compensation cost (in years)       2 years 10 months 24 days    
PRSUs            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Award vesting rights, target (as a percent)       100.00%    
Number of RSUs and PRSUs Outstanding            
Granted (in shares)       1,147,187    
Forfeited (in shares)   (34,960)        
PRSUs | Minimum            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Award vesting rights, target (as a percent)       0.00%    
PRSUs | Maximum            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Award vesting rights, target (as a percent)       150.00%    
v3.22.2.2
Equity Incentive Plans - Restricted Stock (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Feb. 06, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock-based compensation expense $ 83,564 $ 70,429 $ 158,135 $ 131,763  
Unvested restricted stock          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock-based compensation expense   $ 600 $ 0 $ 1,200  
Number of Restricted Stock Outstanding          
Unvested, Beginning balance (in shares)     54,977    
Vested (in shares)     (54,977)    
Forfeited/canceled (in shares)     0    
Unvested, Ending balance (in shares) 0   0    
Weighted- Average Grant Date Fair Value          
Beginning balance (in dollars per share)     $ 20.02    
Vested (in dollars per share)     20.02    
Forfeited/canceled (in dollars per share)     0    
Ending balance (in dollars per share) $ 0   $ 0    
Aggregate Intrinsic Value $ 0   $ 0   $ 1,450
v3.22.2.2
Equity Incentive Plans - Stock-Based Compensation (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense $ 83,564 $ 70,429 $ 158,135 $ 131,763
Cost of revenue—product        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense 2,607 1,566 4,470 2,913
Cost of revenue—subscription services        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense 5,808 5,137 11,164 9,543
Research and development        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense 41,575 35,125 78,092 65,546
Sales and marketing        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense 17,954 18,358 36,299 35,166
General and administrative        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense $ 15,620 $ 10,243 $ 28,110 $ 18,595
v3.22.2.2
Net Income (Loss) per Share Attributable to Common Stockholders - Net Loss per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Earnings Per Share [Abstract]        
Net income (loss) $ 10,922 $ (45,265) $ (613) $ (129,471)
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic (in shares) 297,475 283,931 296,659 282,147
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted (in shares) 312,720 283,931 296,659 282,147
Net income (loss) per share attributable to common stockholders, basic (in dollars per share) $ 0.04 $ (0.16) $ (0.00) $ (0.46)
Net income (loss) per share attributable to common stockholders, diluted (in dollars per share) $ 0.03 $ (0.16) $ (0.00) $ (0.46)
v3.22.2.2
Net Income (Loss) per Share Attributable to Common Stockholders - Shares Excluded (Details) - shares
shares in Thousands
 3 Months Ended 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]        
Anti-dilutive securities excluded from computation of earnings per share, amount (in shares) 66,172 76,220 64,894 75,719
Stock options to purchase common stock        
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]        
Anti-dilutive securities excluded from computation of earnings per share, amount (in shares) 10,716 16,817 11,136 17,336
Unvested RSUs and PRSUs        
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]        
Anti-dilutive securities excluded from computation of earnings per share, amount (in shares) 32,570 35,006 30,860 33,905
Unvested restricted stock        
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]        
Anti-dilutive securities excluded from computation of earnings per share, amount (in shares) 0 310 12 391
Shares related to convertible senior notes        
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]        
Anti-dilutive securities excluded from computation of earnings per share, amount (in shares) 21,884 21,884 21,884 21,884
Shares issuable pursuant to the ESPP        
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]        
Anti-dilutive securities excluded from computation of earnings per share, amount (in shares) 1,002 2,203 1,002 2,203
v3.22.2.2
Other Income (Expense), Net - Other Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Other Income and Expenses [Abstract]        
Interest income $ 2,355 $ 2,330 $ 4,311 $ 5,104
Interest expense (1,001) (9,005) (2,483) (17,664)
Foreign currency transactions losses (2,627) (1,234) (9,026) (1,198)
Other income 1,858 499 1,602 1,621
Total other income (expense), net $ 585 $ (7,410) $ (5,596) $ (12,137)
v3.22.2.2
Segment Information - Revenue by Geographic Area (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 07, 2022
Aug. 01, 2021
Aug. 07, 2022
Aug. 01, 2021
Revenues From External Customers And Long Lived Assets [Line Items]        
Total revenue $ 646,772 $ 496,831 $ 1,267,177 $ 909,538
United States        
Revenues From External Customers And Long Lived Assets [Line Items]        
Total revenue 462,135 353,176 926,670 648,283
Rest of the world        
Revenues From External Customers And Long Lived Assets [Line Items]        
Total revenue $ 184,637 $ 143,655 $ 340,507 $ 261,255
v3.22.2.2
Segment Information - Long-Lived Assets by Geographic Area (Details) - USD ($)
$ in Thousands
Aug. 07, 2022
Feb. 06, 2022
Revenues From External Customers And Long Lived Assets [Line Items]    
Total long-lived assets $ 219,559 $ 195,282
United States    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total long-lived assets 207,865 187,228
Rest of the world    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total long-lived assets $ 11,694 $ 8,054