PURE STORAGE, INC., 10-Q filed on 6/16/2022
Quarterly Report
v3.22.1
Cover - shares
 3 Months Ended
May 08, 2022
Jun. 08, 2022
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date May 08, 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, $0.0001 par value per share  
Trading Symbol PSTG  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   296,021,678
Amendment Flag false  
Document Fiscal Year Focus 2023  
Document Fiscal Period Focus Q1  
Entity Central Index Key 0001474432  
Current Fiscal Year End Date --02-05  
v3.22.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
May 08, 2022
Feb. 06, 2022
Current assets:    
Cash and cash equivalents $ 455,237 $ 466,199
Marketable securities 836,725 947,073
Accounts receivable, net of allowance of $945 and $1,030 345,933 542,144
Inventory 41,301 38,942
Deferred commissions, current 67,448 81,589
Prepaid expenses and other current assets 127,967 116,232
Total current assets 1,874,611 2,192,179
Property and equipment, net 207,289 195,282
Operating lease right-of-use assets 112,926 111,763
Deferred commissions, non-current 163,550 164,718
Intangible assets, net 58,595 62,646
Goodwill 358,736 358,736
Restricted cash 10,544 10,544
Other assets, non-current 42,101 39,447
Total assets 2,828,352 3,135,315
Current liabilities:    
Accounts payable 58,668 70,704
Accrued compensation and benefits 111,131 205,431
Accrued expenses and other liabilities 84,292 78,511
Operating lease liabilities, current 37,370 35,098
Deferred revenue, current 577,348 562,576
Debt, current 572,556 0
Total current liabilities 1,441,365 952,320
Long-term debt 0 786,779
Operating lease liabilities, non-current 91,639 93,479
Deferred revenue, non-current 535,125 517,296
Other liabilities, non-current 33,129 31,105
Total liabilities 2,101,258 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 297,132 Class A shares issued and outstanding 30 29
Additional paid-in capital 2,367,577 2,470,943
Accumulated other comprehensive loss (18,845) (8,365)
Accumulated deficit (1,621,668) (1,708,271)
Total stockholders’ equity 727,094 754,336
Total liabilities and stockholders’ equity $ 2,828,352 $ 3,135,315
v3.22.1
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
May 08, 2022
Feb. 06, 2022
Accounts receivable, allowance $ 1,030 $ 945
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Shares authorized (in shares) 20,000,000 20,000,000
Shares issued (in shares) 0 0
Shares outstanding (in shares) 0 0
Shares authorized (in shares) 2,250,000,000 2,250,000,000
Class A    
Par value per share (in dollars per share) $ 0.0001 $ 0.0001
Shares authorized (in shares) 2,000,000,000 2,000,000,000
Shares issued (in shares) 297,132,430 292,633,000
Shares outstanding (in shares) 297,132,430 292,633,000
Class B    
Par value per share (in dollars per share) $ 0.0001 $ 0.0001
Shares authorized (in shares) 250,000,000 250,000,000
v3.22.1
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
May 08, 2022
May 02, 2021
Revenue $ 620,405 $ 412,707
Cost of revenue 193,979 130,841
Gross profit 426,426 281,866
Operating expenses:    
Research and development 161,273 131,381
Sales and marketing 218,153 183,496
General and administrative 51,567 43,146
Total operating expenses 430,993 358,023
Loss from operations (4,567) (76,157)
Other income (expense), net (6,181) (4,727)
Loss before provision for income taxes (10,748) (80,884)
Provision for income taxes 787 3,322
Net loss $ (11,535) $ (84,206)
Net loss per share attributable to common stockholders, basic (in USD per share) $ (0.04) $ (0.30)
Net loss per share attributable to common stockholders, diluted (in USD per share) $ (0.04) $ (0.30)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) 295,843 280,331
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) 295,843 280,331
Product    
Revenue $ 401,161 $ 249,888
Cost of revenue 125,484 79,064
Subscription services    
Revenue 219,244 162,819
Cost of revenue $ 68,495 $ 51,777
v3.22.1
Condensed Consolidated Statements of Comprehensive Loss - USD ($)
$ in Thousands
 3 Months Ended
May 08, 2022
May 02, 2021
Statement of Comprehensive Income [Abstract]    
Net loss $ (11,535) $ (84,206)
Other comprehensive loss:    
Unrealized net losses on available-for-sale securities (10,487) (2,219)
Less: reclassification adjustment for net (gains) losses on available-for-sale securities included in net loss 7 (423)
Change in unrealized net losses on available-for-sale securities (10,480) (2,642)
Comprehensive loss $ (22,015) $ (86,848)
v3.22.1
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 Loss/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)     1,331                
Issuance of common stock upon exercise of stock options 7,895     7,895              
Stock-based compensation expense 61,764     61,764              
Vesting of restricted stock units (in shares)                   3,082  
Vesting of restricted stock units                 $ 0   $ 0
Tax withholding on vesting of equity awards (in shares)     (226)                
Tax withholding on vesting of equity awards (5,050)     (5,050)              
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)     (1,383)                
Repurchases of common stock (30,020)     (30,020)              
Other comprehensive loss (2,642)         (2,642)          
Net loss (84,206)           (84,206)        
Ending balance (in shares) at May. 02, 2021     283,352                
Ending balance at May. 02, 2021 715,473   $ 28 2,359,895   4,768 (1,649,218)        
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)        
Ending balance (in shares) at Feb. 06, 2022     292,633                
Ending 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]                      
Accounting Standards Update [Extensible Enumeration] Accounting Standards Update 2020-06 [Member]                    
Issuance of common stock upon exercise of stock options (in shares)     1,233                
Issuance of common stock upon exercise of stock options $ 11,433     11,433              
Stock-based compensation expense 75,685     75,685              
Vesting of restricted stock units (in shares)                   3,608  
Vesting of restricted stock units                 $ 0 $ 1 $ (1)
Tax withholding on vesting of equity awards (in shares)     (295)                
Tax withholding on vesting of equity awards (10,194)     (10,194)              
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)     (2,134)                
Repurchases of common stock (66,420)     (66,420)              
Other comprehensive loss (10,480)         (10,480)          
Net loss (11,535)           (11,535)        
Ending balance (in shares) at May. 08, 2022     297,132                
Ending balance at May. 08, 2022 $ 727,094   $ 30 $ 2,367,577   $ (18,845) $ (1,621,668)        
v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
May 08, 2022
May 02, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (11,535) $ (84,206)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 22,663 18,826
Amortization of debt discount and debt issuance costs 801 7,403
Stock-based compensation expense 74,571 61,334
Other 146 2,621
Changes in operating assets and liabilities:    
Accounts receivable, net 196,129 133,380
Inventory (1,699) (3,508)
Deferred commissions 15,309 2,049
Prepaid expenses and other assets (11,742) (30,407)
Operating lease right-of-use assets 7,749 7,581
Accounts payable (7,419) (24,354)
Accrued compensation and other liabilities (88,963) (84,837)
Operating lease liabilities (8,480) (6,897)
Deferred revenue 32,602 22,463
Net cash provided by operating activities 220,132 21,448
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (32,810) (27,829)
Purchases of marketable securities (17,251) (171,563)
Sales of marketable securities 0 85,537
Maturities of marketable securities 116,175 65,740
Net cash (used in) provided by investing activities 66,114 (48,115)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net proceeds from exercise of stock options 11,405 8,016
Proceeds from issuance of common stock under employee stock purchase plan 19,396 17,726
Principal payments on borrowings and finance lease obligations (251,395) (344)
Tax withholding on vesting of equity awards (10,194) (5,050)
Repurchases of common stock (66,420) (30,020)
Net cash used in financing activities (297,208) (9,672)
Net decrease in cash, cash equivalents and restricted cash (10,962) (36,339)
Cash, cash equivalents and restricted cash, beginning of period 476,743 347,691
Cash, cash equivalents and restricted cash, end of period 465,781 311,352
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD    
Cash and cash equivalents 455,237 300,808
Restricted cash 10,544 10,544
Cash, cash equivalents and restricted cash, end of period 465,781 311,352
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 715 1,455
Cash paid for income taxes 1,848 3,750
Cash paid for amounts included in the measurement of operating lease liabilities 11,924 8,820
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION    
Property and equipment purchased but not yet paid 6,413 8,366
Operating lease right-of-use assets obtained in exchange for operating lease liabilities $ 8,912 $ 2,495
v3.22.1
Business Overview
 3 Months Ended
May 08, 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.
v3.22.1
Basis of Presentation and Summary of Significant Accounting Policies
 3 Months Ended
May 08, 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 first quarter of fiscal 2022 and 2023 ended on May 2, 2021 and May 8, 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.
There were no material changes in the first quarter of fiscal 2023 to our significant accounting policies as described in our Annual Report on Form 10-K for fiscal 2022.
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 first quarter of fiscal 2023, we had restricted cash of $10.5 million.
Recently Adopted Accounting Pronouncement
In August 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (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 Loss per Share Attributable to Common Stockholders.
v3.22.1
Financial Instruments
 3 Months Ended
May 08, 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 first 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 First Quarter of Fiscal 2023
 Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value		Cash EquivalentsMarketable
Securities		Restricted Cash
Level 1
Money market accounts$— $— $— $121,080 $110,536 $— $10,544 
Level 2       
U.S. government treasury notes298,420 86 (4,491)294,015 10,660 283,355 — 
U.S. government agencies41,783 12 (389)41,406 — 41,406 — 
Corporate debt securities460,182 15 (11,019)449,178 — 449,178 — 
Foreign government bonds8,304 2 (51)8,255 — 8,255 — 
Asset-backed securities51,781 17 (1,053)50,745 — 50,745 — 
Municipal bonds3,950 — (164)3,786 — 3,786 — 
Total$864,420 $132 $(17,167)$968,465 $121,196 $836,725 $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 First Quarter of Fiscal 2023
 Amortized CostFair Value
Due within one year$376,161 $374,085 
Due in one to five years476,309 461,426 
Due in five to ten years1,290 1,214 
Total$853,760 $836,725 
 
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 first quarter 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 first 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 First 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$190,579 $(4,381)$3,488 $(110)$194,067 $(4,491)
U.S. government agencies29,394 (389)— — 29,394 (389)
Corporate debt securities424,652 (10,555)13,368 (464)438,020 (11,019)
Foreign government bonds3,743 (51)— — 3,743 (51)
Asset-backed securities35,011 (1,053)— — 35,011 (1,053)
Municipal bonds3,786 (164)— — 3,786 (164)
Total$687,165 $(16,593)$16,856 $(574)$704,021 $(17,167)
 
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 first 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 first quarter of fiscal 2023.
v3.22.1
Balance Sheet Components
 3 Months Ended
May 08, 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
First Quarter of Fiscal 2023
Raw materials$15,734 $17,366 
Finished goods23,208 23,935 
Inventory$38,942 $41,301 
Property and Equipment, Net
Property and equipment, net consists of the following (in thousands):
 
At the End of
 Fiscal 2022
First Quarter of Fiscal 2023
Test equipment$266,672 $281,577 
Computer equipment and software206,053 213,616 
Furniture and fixtures8,652 8,504 
Leasehold improvements47,443 48,431 
Capitalized software development costs8,528 12,020 
Total property and equipment537,348 564,148 
Less: accumulated depreciation and amortization(342,066)(356,859)
Property and equipment, net$195,282 $207,289 

Depreciation and amortization expense related to property and equipment was $14.5 million and $19.3 million for the first quarter of fiscal 2022 and 2023.
Intangible Assets, Net
Intangible assets, net consist of the following (in thousands):
 
At the End of
 Fiscal 2022
First 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 $(13,864)$5,261 
Developed technology80,166 (30,304)49,862 80,166 (33,504)46,662 
Customer relationships6,459 (1,246)5,213 6,459 (1,476)4,983 
Trade name3,623 (1,633)1,990 3,623 (1,934)1,689 
Intangible assets, net$109,373 $(46,727)$62,646 $109,373 $(50,778)$58,595 
 
 Intangible assets amortization expense was $4.3 million and $4.1 million for the first quarter of fiscal 2022 and 2023. At the end of the first quarter of fiscal 2023, the weighted-average remaining amortization period was 1.9 years for technology patents, 3.7 years for developed technology, 5.4 years for customer relationships, and 1.4 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 first 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$12,146 
202415,776 
202514,991 
202612,396 
20272,673 
Thereafter613 
Total$58,595 
Goodwill
As of the end of fiscal 2022 and the first quarter of fiscal 2023, goodwill was $358.7 million. There were no impairments to goodwill during the first quarter 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
First Quarter of Fiscal 2023
Taxes payable $6,312 $5,477 
Accrued marketing13,257 7,966 
Accrued cloud and outside services6,135 7,300 
Supply chain-related accruals6,991 11,509 
Accrued service logistics and professional services6,244 6,444 
Acquisition earn-out5,211 6,958 
Customer deposits from contracts with customers10,409 9,699 
Other accrued liabilities23,952 28,939 
Total accrued expenses and other liabilities$78,511 $84,292 
v3.22.1
Deferred Revenue and Commissions
 3 Months Ended
May 08, 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):
First Quarter of Fiscal
20222023
Beginning balance
$187,924 $246,307 
Additions29,189 26,484 
Recognition of deferred commissions(31,238)(41,793)
Ending balance$185,875 $230,998 
Of the $231.0 million total deferred commissions balance at the end of the first quarter of fiscal 2023, we expect to recognize approximately 29% as commission expense over the next 12 months and the remainder thereafter.
There was no impairment related to capitalized commissions for the first quarter 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):
First Quarter of Fiscal
20222023
Beginning balance
$843,697 $1,079,872 
Additions186,851 244,580 
Recognition of deferred revenue(164,388)(211,979)
Ending balance$866,160 $1,112,473 
Revenue recognized during the first quarter of fiscal 2022 and 2023 from deferred revenue at the beginning of each respective period was $145.1 million and $197.1 million.
Remaining Performance Obligations
Total remaining performance obligations (RPO) which is contracted but not recognized revenue was $1.4 billion at the end of the first 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 $1.4 billion contracted but not recognized revenue at the end of the first quarter of fiscal 2023, we expect to recognize approximately 47% over the next 12 months, and the remainder thereafter.
v3.22.1
Debt
 3 Months Ended
May 08, 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, at our election. We intend to settle the principal of the Notes in cash.
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 is 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. After the adoption of ASU 2020-06, the carrying amount of the Notes was $572.6 million as of the end of the first quarter of fiscal 2023, with principal of $575.0 million, net of debt issuance costs of $2.4 million. The debt issuance costs are 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
First 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)(2,444)
Net carrying amount of the Notes$536,779 $572,556 
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 first quarter of fiscal 2023 was $676.6 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 $27.38 on the last day of the first quarter of fiscal 2023, the if-converted value of the Notes of $599.2 million was greater than its principal amount. At the end of the first quarter of fiscal 2023, the remaining term of the Notes is approximately 11 months.
The following table sets forth total interest expense recognized related to the Notes for the first quarter of fiscal 2022 and 2023 (in thousands):
First Quarter of Fiscal
20222023
Amortization of debt discount$6,760 $— 
Amortization of debt issuance costs490 648 
Total amortization of debt discount and debt issuance costs7,250 648 
Contractual interest expense175 179 
Total interest expense related to the Notes$7,425 $827 
Effective interest rate of the liability component5.6 %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
The Notes will not impact our diluted EPS until the average market price of our common stock exceeds the conversion price of $26.27 per share, as we intend to settle the principal amount of the Notes in cash upon conversion. We are required under the if-converted method to compute the potentially dilutive shares of common stock related to the Notes for periods we report net income. 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. The outstanding loan bore weighted-average interest at the one-month LIBOR of approximately 1.61% and 1.61% resulting in interest expense of $1.0 million and $0.3 million during the first quarter of fiscal 2022 and 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 first quarter of fiscal 2023.
v3.22.1
Commitments and Contingencies
 3 Months Ended
May 08, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Letters of Credit
At the end of fiscal 2022 and the first quarter of fiscal 2023, we had outstanding letters of credit in the aggregate amount of $6.7 million in connection with our facility leases. The letters of credit are collateralized by restricted cash and mature on various dates through August 2029.
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 first 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.
v3.22.1
Leases
 3 Months Ended
May 08, 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. During the first quarter of fiscal 2023, we capitalized a data center lease with total undiscounted cash flows of $9.4 million. During fiscal 2022, we entered into an agreement with a third party vendor to finance lease certain test equipment. The amount of test equipment acquired under the finance lease was not material at the end of the first quarter of fiscal 2023.
The components of lease costs related to our operating leases during the periods presented were as follows (in thousands):
First Quarter of Fiscal
20222023
Fixed operating lease cost$9,756 $10,318 
Variable lease cost (1)
1,995 1,890 
Short-term lease cost (12 months or less)1,101 852 
Total lease cost$12,852 $13,060 
____________________________________
(1) Variable lease cost predominantly included common area maintenance charges.
At the end of the first quarter of fiscal 2023, the weighted-average remaining lease term for our operating leases was 4.4 years and the weighted-average discount rate for our operating leases was 5.63%. Future lease payments under our non-cancelable operating leases at the end of the first quarter of fiscal 2023 were as follows (in thousands):
Fiscal Years EndingOperating Leases
The remainder of 2023$31,268 
202436,179 
202531,647 
202622,125 
20278,266 
Thereafter17,786 
Total future lease payments147,271 
Less: imputed interest(18,262)
Present value of lease liabilities$129,009 
In June 2022, we entered into an eight year sublease agreement through July 2030 for a new headquarters facility in Santa Clara, California for total lease obligations, including operating expenses, of approximately $143.0 million.
v3.22.1
Stockholders' Equity
 3 Months Ended
May 08, 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 first 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 first 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 first quarter of fiscal 2023, 297,132,430 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 first quarter of fiscal 2023, we repurchased and retired 2,134,290 shares of common stock at an average purchase price of $31.10 per share for an aggregate repurchase price of $66.4 million. At the end of the first quarter of fiscal 2023, $183.6 million remained available for future share repurchases under our current repurchase authorization.
v3.22.1
Equity Incentive Plans
 3 Months Ended
May 08, 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. There was no ESPP reset during the first quarter of fiscal 2022 and 2023.
Stock-based compensation expense related to our 2015 ESPP was $7.6 million and $6.9 million during the first quarter of fiscal 2022 and 2023. At the end of the first quarter of fiscal 2023, total unrecognized stock-based compensation cost related to our 2015 ESPP was $32.4 million, which is expected to be recognized over a weighted-average period of 1.7 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(1,232,899)9.27   
Options forfeited(8,690)1.88   
Balance at the end of the first quarter of fiscal 2023
11,027,349 $10.37 3.4$187,989 
Vested and exercisable at the end of the first quarter of fiscal 2023
10,484,441 $10.77 3.2$174,121 
 
The aggregate intrinsic value of options vested and exercisable at the end of the first quarter of fiscal 2023 is calculated based on the difference between the exercise price and the closing price of $27.38 of our common stock on the last day of the first quarter of fiscal 2023.
Stock-based compensation expense recognized related to stock options was $2.3 million and $1.5 million during the first quarter of fiscal 2022 and 2023.
At the end of the first quarter of fiscal 2023, total unrecognized employee stock-based compensation cost related to outstanding options was $6.0 million, which is expected to be recognized over a weighted-average period of 1.4 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
9,992,401 31.02 
Vested(3,608,468)18.75 
Forfeited(1,002,438)19.72 
Unvested balance at the end of the first quarter of fiscal 2023
34,094,373 $22.97 $933,532 
RSUs granted during the first quarter 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, from 0% to 150% of the target number granted, contingent upon the degree to which the 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 the PRSUs issued subject to service conditions through the remaining vesting periods.
Stock-based compensation expense recognized related to RSUs and PRSUs was $51.6 million and $66.2 million during the first quarter of fiscal 2022 and 2023. At the end of the first quarter of fiscal 2023, total unrecognized employee stock-based compensation cost related to unvested RSUs and PRSUs was $721.6 million, which is expected to be recognized over a weighted-average period of 3.0 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 first quarter of fiscal 2023
— $— $— 

Stock-based compensation expense recognized related to restricted stock was $0.6 million and de minimis during the first quarter of fiscal 2022 and 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):
 
 
First Quarter of Fiscal
 20222023
Cost of revenue—product$1,347 $1,863 
Cost of revenue—subscription services4,406 5,356 
Research and development
30,421 36,517 
Sales and marketing16,808 18,345 
General and administrative8,352 12,490 
Total stock-based compensation expense$61,334 $74,571 
The tax benefit related to stock-based compensation expense for all periods presented was not material.
v3.22.1
Net Loss per Share Attributable to Common Stockholders
 3 Months Ended
May 08, 2022
Earnings Per Share [Abstract]  
Net Loss per Share Attributable to Common Stockholders Net Loss per Share Attributable to Common StockholdersBasic and diluted net loss per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. Basic net loss per share attributable to common stockholders is computed by dividing the net 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 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. As we had net losses in both the first quarter of fiscal 2022 and 2023, 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.
The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):
 
First Quarter of Fiscal
 20222023
Net loss$(84,206)$(11,535)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted280,331 295,843 
Net loss per share attributable to common stockholders, basic and diluted$(0.30)$(0.04)
The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive (in thousands):
 
 
First Quarter of Fiscal
 20222023
Stock options to purchase common stock17,856 11,555 
Unvested RSUs and PRSUs32,876 29,150 
Unvested restricted stock471 25 
Shares related to convertible senior notes21,884 21,884 
Shares issuable pursuant to the ESPP1,049 610 
Total74,136 63,224 
v3.22.1
Other Income (Expense), Net
 3 Months Ended
May 08, 2022
Other Income and Expenses [Abstract]  
Other Income (Expense), Net Other Income (Expense), Net
Other income (expense), net consists of the following (in thousands):
First Quarter of Fiscal
20222023
Interest income(1)
$2,774 $1,956 
Interest expense(2)
(8,659)(1,482)
Foreign currency transactions gains (losses)36 (6,399)
Other income (expense)1,122 (256)
Total other income (expense), net$(4,727)$(6,181)
____________________________________
(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 in the first quarter of fiscal 2022 includes non-cash interest expense related to amortization of the debt discount and debt issuance costs and the contractual interest expense related to our debt. Interest expense in the first quarter of fiscal 2023 includes non-cash interest expense related to debt issuance costs and the contractual interest expense related to our debt.
v3.22.1
Income Taxes
 3 Months Ended
May 08, 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 and stock-based compensation expense.
At the end of the first 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.
v3.22.1
Segment Information
 3 Months Ended
May 08, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
Our 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):
 
First Quarter of Fiscal
 20222023
United States$295,107 $464,535 
Rest of the world117,600 155,870 
Total revenue$412,707 $620,405 

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
First Quarter of Fiscal 2023
United States$187,228 $198,907 
Rest of the world8,054 8,382 
Total long-lived assets$195,282 $207,289 
v3.22.1
Basis of Presentation and Summary of Significant Accounting Policies - (Policies)
 3 Months Ended
May 08, 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 first quarter of fiscal 2022 and 2023 ended on May 2, 2021 and May 8, 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.
There were no material changes in the first quarter of fiscal 2023 to our significant accounting policies as described in our Annual Report on Form 10-K for fiscal 2022.
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.
Recent Adopted Accounting Pronouncements Recently Adopted Accounting PronouncementIn August 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (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.
v3.22.1
Financial Instruments - (Tables)
 3 Months Ended
May 08, 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 first 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 First Quarter of Fiscal 2023
 Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value		Cash EquivalentsMarketable
Securities		Restricted Cash
Level 1
Money market accounts$— $— $— $121,080 $110,536 $— $10,544 
Level 2       
U.S. government treasury notes298,420 86 (4,491)294,015 10,660 283,355 — 
U.S. government agencies41,783 12 (389)41,406 — 41,406 — 
Corporate debt securities460,182 15 (11,019)449,178 — 449,178 — 
Foreign government bonds8,304 2 (51)8,255 — 8,255 — 
Asset-backed securities51,781 17 (1,053)50,745 — 50,745 — 
Municipal bonds3,950 — (164)3,786 — 3,786 — 
Total$864,420 $132 $(17,167)$968,465 $121,196 $836,725 $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 First Quarter of Fiscal 2023
 Amortized CostFair Value
Due within one year$376,161 $374,085 
Due in one to five years476,309 461,426 
Due in five to ten years1,290 1,214 
Total$853,760 $836,725 
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 first 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 First 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$190,579 $(4,381)$3,488 $(110)$194,067 $(4,491)
U.S. government agencies29,394 (389)— — 29,394 (389)
Corporate debt securities424,652 (10,555)13,368 (464)438,020 (11,019)
Foreign government bonds3,743 (51)— — 3,743 (51)
Asset-backed securities35,011 (1,053)— — 35,011 (1,053)
Municipal bonds3,786 (164)— — 3,786 (164)
Total$687,165 $(16,593)$16,856 $(574)$704,021 $(17,167)
v3.22.1
Balance Sheet Components - (Tables)
 3 Months Ended
May 08, 2022
Balance Sheet Components Disclosure [Abstract]  
Schedule of Inventory
Inventory consists of the following (in thousands):
At the End of
Fiscal 2022
First Quarter of Fiscal 2023
Raw materials$15,734 $17,366 
Finished goods23,208 23,935 
Inventory$38,942 $41,301 
Schedule of Property and Equipment, Net
Property and equipment, net consists of the following (in thousands):
 
At the End of
 Fiscal 2022
First Quarter of Fiscal 2023
Test equipment$266,672 $281,577 
Computer equipment and software206,053 213,616 
Furniture and fixtures8,652 8,504 
Leasehold improvements47,443 48,431 
Capitalized software development costs8,528 12,020 
Total property and equipment537,348 564,148 
Less: accumulated depreciation and amortization(342,066)(356,859)
Property and equipment, net$195,282 $207,289 
Schedule of Intangible Assets, Net
Intangible assets, net consist of the following (in thousands):
 
At the End of
 Fiscal 2022
First 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 $(13,864)$5,261 
Developed technology80,166 (30,304)49,862 80,166 (33,504)46,662 
Customer relationships6,459 (1,246)5,213 6,459 (1,476)4,983 
Trade name3,623 (1,633)1,990 3,623 (1,934)1,689 
Intangible assets, net$109,373 $(46,727)$62,646 $109,373 $(50,778)$58,595 
Schedule of Expected Amortization Expenses for Intangible Assets
At the end of the first 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$12,146 
202415,776 
202514,991 
202612,396 
20272,673 
Thereafter613 
Total$58,595 
Schedule of Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consist of the following (in thousands):
At the End of
 Fiscal 2022
First Quarter of Fiscal 2023
Taxes payable $6,312 $5,477 
Accrued marketing13,257 7,966 
Accrued cloud and outside services6,135 7,300 
Supply chain-related accruals6,991 11,509 
Accrued service logistics and professional services6,244 6,444 
Acquisition earn-out5,211 6,958 
Customer deposits from contracts with customers10,409 9,699 
Other accrued liabilities23,952 28,939 
Total accrued expenses and other liabilities$78,511 $84,292 
v3.22.1
Deferred Revenue and Commissions - (Tables)
 3 Months Ended
May 08, 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):
First Quarter of Fiscal
20222023
Beginning balance
$187,924 $246,307 
Additions29,189 26,484 
Recognition of deferred commissions(31,238)(41,793)
Ending balance$185,875 $230,998 
Schedule of Deferred Revenue
Changes in total deferred revenue during the periods presented are as follows (in thousands):
First Quarter of Fiscal
20222023
Beginning balance
$843,697 $1,079,872 
Additions186,851 244,580 
Recognition of deferred revenue(164,388)(211,979)
Ending balance$866,160 $1,112,473 
v3.22.1
Debt - (Tables)
 3 Months Ended
May 08, 2022
Debt Disclosure [Abstract]  
Schedule of Convertible Debt
The Notes consisted of the following (in thousands):
At the End of
Fiscal 2022
First 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)(2,444)
Net carrying amount of the Notes$536,779 $572,556 
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 first quarter of fiscal 2022 and 2023 (in thousands):
First Quarter of Fiscal
20222023
Amortization of debt discount$6,760 $— 
Amortization of debt issuance costs490 648 
Total amortization of debt discount and debt issuance costs7,250 648 
Contractual interest expense175 179 
Total interest expense related to the Notes$7,425 $827 
Effective interest rate of the liability component5.6 %0.6 %
v3.22.1
Leases - (Tables)
 3 Months Ended
May 08, 2022
Leases [Abstract]  
Components of Lease Cost
The components of lease costs related to our operating leases during the periods presented were as follows (in thousands):
First Quarter of Fiscal
20222023
Fixed operating lease cost$9,756 $10,318 
Variable lease cost (1)
1,995 1,890 
Short-term lease cost (12 months or less)1,101 852 
Total lease cost$12,852 $13,060 
____________________________________
(1) Variable lease cost predominantly included common area maintenance charges.
Schedule of Future Operating Lease Payments Future lease payments under our non-cancelable operating leases at the end of the first quarter of fiscal 2023 were as follows (in thousands):
Fiscal Years EndingOperating Leases
The remainder of 2023$31,268 
202436,179 
202531,647 
202622,125 
20278,266 
Thereafter17,786 
Total future lease payments147,271 
Less: imputed interest(18,262)
Present value of lease liabilities$129,009 
v3.22.1
Equity Incentive Plans - (Tables)
 3 Months Ended
May 08, 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(1,232,899)9.27   
Options forfeited(8,690)1.88   
Balance at the end of the first quarter of fiscal 2023
11,027,349 $10.37 3.4$187,989 
Vested and exercisable at the end of the first quarter of fiscal 2023
10,484,441 $10.77 3.2$174,121 
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
9,992,401 31.02 
Vested(3,608,468)18.75 
Forfeited(1,002,438)19.72 
Unvested balance at the end of the first quarter of fiscal 2023
34,094,373 $22.97 $933,532 
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 first 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):
 
 
First Quarter of Fiscal
 20222023
Cost of revenue—product$1,347 $1,863 
Cost of revenue—subscription services4,406 5,356 
Research and development
30,421 36,517 
Sales and marketing16,808 18,345 
General and administrative8,352 12,490 
Total stock-based compensation expense$61,334 $74,571 
v3.22.1
Net Loss per Share Attributable to Common Stockholders - (Tables)
 3 Months Ended
May 08, 2022
Earnings Per Share [Abstract]  
Summary of Computation of Basic and Diluted Net Loss per Share Attributable to Common Stockholders
The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):
 
First Quarter of Fiscal
 20222023
Net loss$(84,206)$(11,535)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted280,331 295,843 
Net loss per share attributable to common stockholders, basic and diluted$(0.30)$(0.04)
Summary of Weighted-average Outstanding Shares Excluded from Computation of Diluted Net Loss per Share Attributable to Common Stockholders
The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive (in thousands):
 
 
First Quarter of Fiscal
 20222023
Stock options to purchase common stock17,856 11,555 
Unvested RSUs and PRSUs32,876 29,150 
Unvested restricted stock471 25 
Shares related to convertible senior notes21,884 21,884 
Shares issuable pursuant to the ESPP1,049 610 
Total74,136 63,224 
v3.22.1
Other Income (Expense), Net - (Tables)
 3 Months Ended
May 08, 2022
Other Income and Expenses [Abstract]  
Summary of Other Income (Expense)
Other income (expense), net consists of the following (in thousands):
First Quarter of Fiscal
20222023
Interest income(1)
$2,774 $1,956 
Interest expense(2)
(8,659)(1,482)
Foreign currency transactions gains (losses)36 (6,399)
Other income (expense)1,122 (256)
Total other income (expense), net$(4,727)$(6,181)
____________________________________
(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 in the first quarter of fiscal 2022 includes non-cash interest expense related to amortization of the debt discount and debt issuance costs and the contractual interest expense related to our debt. Interest expense in the first quarter of fiscal 2023 includes non-cash interest expense related to debt issuance costs and the contractual interest expense related to our debt.
v3.22.1
Segment Information - (Tables)
 3 Months Ended
May 08, 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):
 
First Quarter of Fiscal
 20222023
United States$295,107 $464,535 
Rest of the world117,600 155,870 
Total revenue$412,707 $620,405 
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
First Quarter of Fiscal 2023
United States$187,228 $198,907 
Rest of the world8,054 8,382 
Total long-lived assets$195,282 $207,289 
v3.22.1
Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) - USD ($)
$ in Thousands
Feb. 07, 2022
May 08, 2022
Feb. 06, 2022
May 02, 2021
Accounting Policies [Abstract]        
Restricted cash   $ 10,544 $ 10,544 $ 10,544
Reduce in additional paid-in capital $ 133,300      
Debt instrument increase net 35,200      
Accumulated deficit $ 98,100 $ 1,621,668 $ 1,708,271  
v3.22.1
Financial Instruments - Cash Equivalents, Marketable Securities and Restricted Cash (Details) - USD ($)
$ in Thousands
May 08, 2022
Feb. 06, 2022
Debt Securities, Available-for-sale [Line Items]    
Fair Value $ 836,725  
Cash Equivalents 121,196 $ 18,931
Marketable securities 836,725 947,073
Restricted Cash 10,544 10,544
Amortized Cost 864,420 953,828
Total gross unrealized gains 132 1,093
Total gross unrealized losses (17,167) (7,648)
Total fair value 968,465 976,548
Level 1 | Money market accounts    
Debt Securities, Available-for-sale [Line Items]    
Fair Value 121,080 29,275
Cash Equivalents 110,536 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 298,420 336,303
Gross Unrealized Gains 86 512
Gross Unrealized Losses (4,491) (2,176)
Fair Value 294,015 334,639
Cash Equivalents 10,660 0
Marketable securities 283,355 334,639
Restricted Cash 0 0
Level 2 | U.S. government agencies    
Debt Securities, Available-for-sale [Line Items]    
Total 41,783 49,153
Gross Unrealized Gains 12 49
Gross Unrealized Losses (389) (193)
Fair Value 41,406 49,009
Cash Equivalents 0 0
Marketable securities 41,406 49,009
Restricted Cash 0 0
Level 2 | Corporate debt securities    
Debt Securities, Available-for-sale [Line Items]    
Total 460,182 491,728
Gross Unrealized Gains 15 384
Gross Unrealized Losses (11,019) (4,731)
Fair Value 449,178 487,381
Cash Equivalents 0 200
Marketable securities 449,178 487,181
Restricted Cash 0 0
Level 2 | Foreign government bonds    
Debt Securities, Available-for-sale [Line Items]    
Total 8,304 12,333
Gross Unrealized Gains 2 37
Gross Unrealized Losses (51) (17)
Fair Value 8,255 12,353
Cash Equivalents 0 0
Marketable securities 8,255 12,353
Restricted Cash 0 0
Level 2 | Asset-backed securities    
Debt Securities, Available-for-sale [Line Items]    
Total 51,781 60,361
Gross Unrealized Gains 17 111
Gross Unrealized Losses (1,053) (453)
Fair Value 50,745 60,019
Cash Equivalents 0 0
Marketable securities 50,745 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 (164) (78)
Fair Value 3,786 3,872
Cash Equivalents 0 0
Marketable securities 3,786 3,872
Restricted Cash $ 0 $ 0
v3.22.1
Financial Instruments - Amortized Cost and Estimated Fair Value (Details) - USD ($)
May 08, 2022
May 02, 2021
Amortized Cost    
Due within one year $ 376,161,000  
Due in one to five years 476,309,000  
Due in five to ten years 1,290,000  
Total 853,760,000  
Fair Value    
Due within one year 374,085,000  
Due in one to five years 461,426,000  
Due in five to ten years 1,214,000  
Total 836,725,000  
Impairment charge for unrealized losses $ 0 $ 0
v3.22.1
Financial Instruments - Gross Unrealized Losses and Fair Values (Details) - USD ($)
$ in Thousands
May 08, 2022
Feb. 06, 2022
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months $ 687,165 $ 637,548
Unrealized Loss, Less than 12 Months (16,593) (7,625)
Fair Value, Greater than 12 months 16,856 1,182
Unrealized Loss, Greater than 12 months (574) (23)
Fair Value, Total 704,021 638,730
Unrealized Loss, Total (17,167) (7,648)
U.S. government treasury notes    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 190,579 193,359
Unrealized Loss, Less than 12 Months (4,381) (2,176)
Fair Value, Greater than 12 months 3,488 0
Unrealized Loss, Greater than 12 months (110) 0
Fair Value, Total 194,067 193,359
Unrealized Loss, Total (4,491) (2,176)
U.S. government agencies    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 29,394 24,388
Unrealized Loss, Less than 12 Months (389) (193)
Fair Value, Greater than 12 months 0 0
Unrealized Loss, Greater than 12 months 0 0
Fair Value, Total 29,394 24,388
Unrealized Loss, Total (389) (193)
Corporate debt securities    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 424,652 374,223
Unrealized Loss, Less than 12 Months (10,555) (4,708)
Fair Value, Greater than 12 months 13,368 1,182
Unrealized Loss, Greater than 12 months (464) (23)
Fair Value, Total 438,020 375,405
Unrealized Loss, Total (11,019) (4,731)
Foreign government bonds    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 3,743 4,098
Unrealized Loss, Less than 12 Months (51) (17)
Fair Value, Greater than 12 months 0 0
Unrealized Loss, Greater than 12 months 0 0
Fair Value, Total 3,743 4,098
Unrealized Loss, Total (51) (17)
Asset-backed securities    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 35,011 37,608
Unrealized Loss, Less than 12 Months (1,053) (453)
Fair Value, Greater than 12 months 0 0
Unrealized Loss, Greater than 12 months 0 0
Fair Value, Total 35,011 37,608
Unrealized Loss, Total (1,053) (453)
Municipal bonds    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 3,786 3,872
Unrealized Loss, Less than 12 Months (164) (78)
Fair Value, Greater than 12 months 0 0
Unrealized Loss, Greater than 12 months 0 0
Fair Value, Total 3,786 3,872
Unrealized Loss, Total $ (164) $ (78)
v3.22.1
Balance Sheet Components - Inventory (Details) - USD ($)
$ in Thousands
May 08, 2022
Feb. 06, 2022
Balance Sheet Components Disclosure [Abstract]    
Raw materials $ 17,366 $ 15,734
Finished goods 23,935 23,208
Inventory $ 41,301 $ 38,942
v3.22.1
Balance Sheet Components - Property and Equipment, Net (Details) - USD ($)
$ in Thousands
May 08, 2022
Feb. 06, 2022
Property Plant And Equipment [Line Items]    
Total property and equipment $ 564,148 $ 537,348
Less: accumulated depreciation and amortization (356,859) (342,066)
Property and equipment, net 207,289 195,282
Test equipment    
Property Plant And Equipment [Line Items]    
Total property and equipment 281,577 266,672
Computer equipment and software    
Property Plant And Equipment [Line Items]    
Total property and equipment 213,616 206,053
Furniture and fixtures    
Property Plant And Equipment [Line Items]    
Total property and equipment 8,504 8,652
Leasehold improvements    
Property Plant And Equipment [Line Items]    
Total property and equipment 48,431 47,443
Capitalized software development costs    
Property Plant And Equipment [Line Items]    
Total property and equipment $ 12,020 $ 8,528
v3.22.1
Balance Sheet Components - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
May 08, 2022
May 02, 2021
Finite-Lived Intangible Assets [Line Items]    
Depreciation and amortization $ 19.3 $ 14.5
Intangible assets amortization expense $ 4.1 $ 4.3
Technology patents    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (in years) 1 year 10 months 24 days  
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (in years) 3 years 8 months 12 days  
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (in years) 5 years 4 months 24 days  
Trade name    
Finite-Lived Intangible Assets [Line Items]    
Useful Life (in years) 1 year 4 months 24 days  
v3.22.1
Balance Sheet Components - Intangible Assets, Net (Details) - USD ($)
$ in Thousands
May 08, 2022
Feb. 06, 2022
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value $ 109,373 $ 109,373
Accumulated Amortization (50,778) (46,727)
Net Carrying Amount 58,595 62,646
Technology patents    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value 19,125 19,125
Accumulated Amortization (13,864) (13,544)
Net Carrying Amount 5,261 5,581
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value 80,166 80,166
Accumulated Amortization (33,504) (30,304)
Net Carrying Amount 46,662 49,862
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value 6,459 6,459
Accumulated Amortization (1,476) (1,246)
Net Carrying Amount 4,983 5,213
Trade name    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value 3,623 3,623
Accumulated Amortization (1,934) (1,633)
Net Carrying Amount $ 1,689 $ 1,990
v3.22.1
Balance Sheet Components - Expected Amortization Expenses for Intangible Assets (Details) - USD ($)
$ in Thousands
May 08, 2022
Feb. 06, 2022
Balance Sheet Components Disclosure [Abstract]    
Remainder of 2023 $ 12,146  
2024 15,776  
2025 14,991  
2026 12,396  
2027 2,673  
Thereafter 613  
Net Carrying Amount $ 58,595 $ 62,646
v3.22.1
Balance Sheet Components - Goodwill (Details) - USD ($)
 3 Months Ended
May 08, 2022
May 02, 2021
Feb. 06, 2022
Balance Sheet Components Disclosure [Abstract]      
Goodwill $ 358,736,000   $ 358,736,000
Impairments to goodwill $ 0 $ 0  
v3.22.1
Balance Sheet Components - Accrued Expenses and Other Liabilities (Details) - USD ($)
$ in Thousands
May 08, 2022
Feb. 06, 2022
Balance Sheet Components Disclosure [Abstract]    
Taxes payable $ 5,477 $ 6,312
Accrued marketing 7,966 13,257
Accrued cloud and outside services 7,300 6,135
Supply chain-related accruals 11,509 6,991
Accrued service logistics and professional services 6,444 6,244
Acquisition earn-out 6,958 5,211
Customer deposits from contracts with customers 9,699 10,409
Other accrued liabilities 28,939 23,952
Total accrued expenses and other liabilities $ 84,292 $ 78,511
v3.22.1
Deferred Revenue and Commissions - Deferred Commissions (Details) - USD ($)
 3 Months Ended
May 08, 2022
May 02, 2021
Deferred Commissions [Roll Forward]    
Beginning balance $ 246,307,000 $ 187,924,000
Additions 26,484,000 29,189,000
Recognition of deferred commissions (41,793,000) (31,238,000)
Ending balance $ 230,998,000 185,875,000
Commission expected to be recognized over the next 12 months (percent) 29.00%  
Impairment of capitalized commissions $ 0 $ 0
v3.22.1
Deferred Revenue and Commissions - Deferred Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 08, 2022
May 02, 2021
Contract Liability    
Additions $ 26,484 $ 29,189
Recognition of deferred revenue (41,793) (31,238)
Product Revenue and Support Subscription Revenue    
Contract Liability    
Beginning balance 1,079,872 843,697
Additions 244,580 186,851
Recognition of deferred revenue (211,979) (164,388)
Ending balance $ 1,112,473 $ 866,160
v3.22.1
Deferred Revenue and Commissions - Remaining Performance Obligation (Details) - USD ($)
$ in Millions
 3 Months Ended
May 08, 2022
May 02, 2021
Revenue from Contract with Customer [Abstract]    
Deferred revenue recognized $ 197.1 $ 145.1
Contracted but not recognized revenue $ 1,400.0  
Contracted but not recognized revenue expected to be recognized in the next 12 months (percent) 47.00%  
v3.22.1
Deferred Revenue and Commissions - Remaining Performance Obligation Period (Details)
May 08, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-05-09  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue expected to be recognized term (in months) 12 months
v3.22.1
Debt - Narrative (Details)
 1 Months Ended 3 Months Ended
Feb. 07, 2022
USD ($)
Aug. 24, 2020
USD ($)
financial_ratio
Feb. 28, 2022
USD ($)
Apr. 30, 2018
USD ($)
day
shares
$ / shares
May 08, 2022
USD ($)
$ / shares
May 02, 2021
USD ($)
Feb. 06, 2022
USD ($)
Oct. 31, 2018
$ / shares
Apr. 04, 2018
$ / shares
Debt Instrument [Line Items]                  
Closing price of stock (in dollars per share) | $ / shares         $ 27.38        
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% 1.61%      
Interest expense         $ 300,000 $ 1,000,000      
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          
Convertible Senior Notes                  
Debt Instrument [Line Items]                  
Debt issuance costs         $ 2,444,000   $ 2,580,000    
Long-term Debt         572,556,000   536,779,000    
Principal         575,000,000   $ 575,000,000    
Additional Paid-in Capital                  
Debt Instrument [Line Items]                  
Allocated value of the conversion feature         0 136,333,000      
Debt issuance costs         $ 0 3,068,000      
Class A                  
Debt Instrument [Line Items]                  
Conversion price (in dollars per share) | $ / shares               $ 26.27  
Closing price of stock (in dollars per share) | $ / shares         $ 27.38        
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]                  
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       $ 2,400,000        
Amortization of debt issuance costs         648,000 490,000      
Long-term Debt         572,600,000        
Principal         575,000,000        
Convertible debt, fair value based on the closing trading price per $100 of the Notes         676,600,000        
If-converted value         $ 599,200,000        
Remaining term of the notes         11 months        
Interest expense         $ 827,000 $ 7,425,000      
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                
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)       38.0594          
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 | Liability Component                  
Debt Instrument [Line Items]                  
Debt issuance costs $ 9,800,000                
v3.22.1
Debt - Convertible Debt (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 08, 2022
May 02, 2021
Feb. 06, 2022
Convertible Senior Notes      
Liability:      
Principal $ 575,000   $ 575,000
Less: debt discount, net of amortization 0   (35,641)
Less: debt issuance costs, net of amortization (2,444)   (2,580)
Net carrying amount of the Notes 572,556   536,779
Stockholders' equity recorded at issuance:      
Less: debt issuance costs (2,444)   $ (2,580)
Additional Paid-in Capital      
Liability:      
Less: debt issuance costs, net of amortization 0 $ (3,068)  
Stockholders' equity recorded at issuance:      
Allocated value of the conversion feature 0 136,333  
Less: debt issuance costs 0 (3,068)  
Additional paid-in capital $ 0 $ 133,265  
v3.22.1
Debt - Interest Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 08, 2022
May 02, 2021
Debt Instrument [Line Items]    
Total amortization of debt discount and debt issuance costs $ 801 $ 7,403
Convertible Senior Notes    
Debt Instrument [Line Items]    
Amortization of debt discount 0 6,760
Amortization of debt issuance costs 648 490
Total amortization of debt discount and debt issuance costs 648 7,250
Contractual interest expense 179 175
Total interest expense related to the Notes $ 827 $ 7,425
Effective interest rate of the liability component ( as a percent) 0.60% 5.60%
v3.22.1
Commitments and Contingencies - Narrative (Details) - USD ($)
May 08, 2022
Feb. 06, 2022
Commitments and Contingencies Disclosure [Abstract]    
Outstanding letters of credit $ 6,700,000 $ 6,700,000
Loss contingency $ 0  
v3.22.1
Leases - Lease costs (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 08, 2022
May 02, 2021
Leases [Abstract]    
Fixed operating lease cost $ 10,318 $ 9,756
Variable lease cost 1,890 1,995
Short-term lease cost (12 months or less) 852 1,101
Total lease cost $ 13,060 $ 12,852
v3.22.1
Leases - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 14, 2022
May 08, 2022
Subsequent Event [Line Items]    
Capitalized data center lease   $ 9,400
Operating lease, weighted average remaining lease term   4 years 4 months 24 days
Weighted-average discount rate (as a percent)   5.63%
Total sublease payments   $ 147,271
Subsequent Event    
Subsequent Event [Line Items]    
Sublease term 8 years  
Total sublease payments $ 143,000  
v3.22.1
Leases - Future minimum lease payments (Details)
$ in Thousands
May 08, 2022
USD ($)
Leases [Abstract]  
The remainder of 2023 $ 31,268
2024 36,179
2025 31,647
2026 22,125
2027 8,266
Thereafter 17,786
Total future lease payments 147,271
Less: imputed interest (18,262)
Present value of lease liabilities $ 129,009
v3.22.1
Stockholders' Equity - Narrative (Details)
$ / shares in Units, $ in Millions
 3 Months Ended
May 08, 2022
USD ($)
stock_class
$ / shares
shares
Mar. 31, 2022
USD ($)
Feb. 06, 2022
$ / shares
shares
Class of Stock [Line Items]      
Shares authorized (in shares) 20,000,000   20,000,000
Shares issued (in shares) 0   0
Shares outstanding (in shares) 0   0
Number of classes of stock | stock_class 2    
Shares authorized (in shares) 2,250,000,000   2,250,000,000
Additional value approved for repurchase | $   $ 250.0  
Stock repurchased and retired (in shares) 2,134,290    
Shares repurchased and retired, average purchase price (in dollars per share) | $ / shares $ 31.10    
Stock repurchased and retired during period, value | $ $ 66.4    
Authorized amount remaining under stock repurchase program | $ $ 183.6    
Class A      
Class of Stock [Line Items]      
Shares authorized (in shares) 2,000,000,000   2,000,000,000
Par value per share (in dollars per share) | $ / shares $ 0.0001   $ 0.0001
Shares issued (in shares) 297,132,430   292,633,000
Shares outstanding (in shares) 297,132,430   292,633,000
Class B      
Class of Stock [Line Items]      
Shares authorized (in shares) 250,000,000   250,000,000
Par value per share (in dollars per share) | $ / shares $ 0.0001   $ 0.0001
v3.22.1
Equity Incentive Plans - Narrative (Details)
 3 Months Ended
May 08, 2022
USD ($)
period
plan
shares
May 02, 2021
USD ($)
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 $ 74,571,000 $ 61,334,000
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  
Purchase period, term 6 months  
Reset charges $ 0 0
Total stock-based compensation expense 6,900,000 $ 7,600,000
Unrecognized stock-based compensation expense $ 32,400,000  
Compensation cost (in years) 1 year 8 months 12 days  
2015 Employee Stock Purchase Plan | Class A    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Payroll deductions percentage 30.00%  
Share cap for ESPP at purchase date (in shares) | shares 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  
v3.22.1
Equity Incentive Plans - Equity Incentive Plans (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
May 08, 2022
May 02, 2021
Feb. 06, 2022
Number of Shares      
Beginning balance (in shares) 12,268,938    
Options exercised (in shares) (1,232,899)    
Options forfeited (in shares) (8,690)    
Ending balance (in shares) 11,027,349   12,268,938
Vested and exercisable (in shares) 10,484,441    
Weighted- Average Exercise Price      
Beginning balance (in dollars per share) $ 10.25    
Options exercised (in dollars per share) 9.27    
Options forfeited/canceled (in dollars per share) 1.88    
Ending balance (in dollars per share) 10.37   $ 10.25
Weighted Average Exercise Price, Vested and exercisable (in dollars per share) $ 10.77    
Weighted- Average Remaining Contractual Life (In Years)      
Weighted Average Remaining Contractual Life (in years) 3 years 4 months 24 days   3 years 6 months
Weighted Average Remaining Contractual Life, Vested and exercisable (in years) 3 years 2 months 12 days    
Aggregate Intrinsic Value      
Aggregate Intrinsic Value $ 187,989   $ 198,266
Aggregate Intrinsic Value, Vested and exercisable $ 174,121    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Closing price of stock (in dollars per share) $ 27.38    
Total stock-based compensation expense $ 74,571 $ 61,334  
Unrecognized compensation cost, stock options 6,000    
Employee Stock Option      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation expense $ 1,500 $ 2,300  
Compensation cost (in years) 1 year 4 months 24 days    
Class A      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Closing price of stock (in dollars per share) $ 27.38    
v3.22.1
Equity Incentive Plans - Restricted Stock Units (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
May 08, 2022
May 02, 2021
Feb. 06, 2022
Unvested RSUs and PRSUs      
Number of RSUs and PRSUs Outstanding      
Unvested, Beginning balance (in shares) 28,712,878    
Granted (in shares) 9,992,401    
Vested (in shares) (3,608,468)    
Forfeited (in shares) (1,002,438)    
Unvested, Ending balance (in shares) 34,094,373    
Weighted- Average Grant Date Fair Value      
Beginning balance (in dollars per share) $ 19.53    
Granted (in dollars per share) 31.02    
Vested (in dollars per share) 18.75    
Forfeited (in dollars per share) 19.72    
Ending balance (in dollars per share) $ 22.97    
Aggregate Intrinsic Value $ 933,532   $ 757,446
Share-based compensation expense 66,200 $ 51,600  
Compensation not yet recognized $ 721,600    
Compensation cost (in years) 3 years    
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)    
Weighted- Average Grant Date Fair Value      
Additional share issued 647,586    
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%    
v3.22.1
Equity Incentive Plans - Restricted Stock (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
May 08, 2022
May 02, 2021
Feb. 06, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation expense $ 74,571 $ 61,334  
Unvested restricted stock      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Stock-based compensation expense   $ 600  
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    
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    
Aggregate Intrinsic Value $ 0   $ 1,450
PRSUs      
Number of Restricted Stock Outstanding      
Forfeited/canceled (in shares) (34,960)    
v3.22.1
Equity Incentive Plans - Stock-Based Compensation (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 08, 2022
May 02, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation expense $ 74,571 $ 61,334
Cost of revenue—product    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation expense 1,863 1,347
Cost of revenue—subscription services    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation expense 5,356 4,406
Research and development    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation expense 36,517 30,421
Sales and marketing    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation expense 18,345 16,808
General and administrative    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation expense $ 12,490 $ 8,352
v3.22.1
Net Loss per Share Attributable to Common Stockholders - Net Loss per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended
May 08, 2022
May 02, 2021
Earnings Per Share [Abstract]    
Net loss $ (11,535) $ (84,206)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) 295,843 280,331
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) 295,843 280,331
Net loss per share attributable to common stockholders, basic (in USD per share) $ (0.04) $ (0.30)
Net loss per share attributable to common stockholders, diluted (in USD per share) $ (0.04) $ (0.30)
v3.22.1
Net Loss per Share Attributable to Common Stockholders - Shares Excluded (Details) - shares
shares in Thousands
 3 Months Ended
May 08, 2022
May 02, 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) 63,224 74,136
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) 11,555 17,856
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) 29,150 32,876
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) 25 471
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
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) 610 1,049
v3.22.1
Other Income (Expense), Net - Other Income (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 08, 2022
May 02, 2021
Other Income and Expenses [Abstract]    
Interest income $ 1,956 $ 2,774
Interest expense (1,482) (8,659)
Foreign currency transactions gains (losses) (6,399) 36
Other income (expense) (256) 1,122
Total other income (expense), net $ (6,181) $ (4,727)
v3.22.1
Segment Information - Revenue by Geographic Area (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 08, 2022
May 02, 2021
Revenues From External Customers And Long Lived Assets [Line Items]    
Total revenue $ 620,405 $ 412,707
United States    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total revenue 464,535 295,107
Rest of the world    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total revenue $ 155,870 $ 117,600
v3.22.1
Segment Information - Long-Lived Assets by Geographic Area (Details) - USD ($)
$ in Thousands
May 08, 2022
Feb. 06, 2022
Revenues From External Customers And Long Lived Assets [Line Items]    
Total long-lived assets $ 207,289 $ 195,282
United States    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total long-lived assets 198,907 187,228
Rest of the world    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total long-lived assets $ 8,382 $ 8,054