ASANA, INC., 10-Q filed on 12/1/2022
Quarterly Report
v3.22.2.2
Cover - shares
9 Months Ended
Oct. 31, 2022
Nov. 23, 2022
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Oct. 31, 2022  
Document Transition Report false  
Entity File Number 001-39495  
Entity Registrant Name Asana, Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 26-3912448  
Entity Address, Address Line One 633 Folsom Street, Suite 100  
Entity Address, City or Town San Francisco  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94107  
City Area Code 415  
Local Phone Number 525-3888  
Title of 12(b) Security Class A Common Stock, $0.00001 par value per share  
Trading Symbol ASAN  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001477720  
Current Fiscal Year End Date --01-31  
Document Fiscal Year Focus 2023  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Common Class A    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   127,284,715
Common Class B    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   85,489,359
v3.22.2.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Oct. 31, 2022
Jan. 31, 2022
Current assets    
Cash and cash equivalents $ 509,091 $ 240,403
Marketable securities 36,322 71,628
Accounts receivable, net 59,345 59,085
Prepaid expenses and other current assets 50,955 40,278
Total current assets 655,713 411,394
Property and equipment, net 94,632 99,632
Restricted cash, noncurrent 1,499 0
Operating lease right-of-use assets 179,639 174,083
Investments, noncurrent 0 2,760
Other assets 21,525 19,166
Total assets 953,008 707,035
Current liabilities    
Accounts payable 8,119 11,557
Accrued expenses and other current liabilities 75,432 60,915
Deferred revenue, current 212,194 170,143
Operating lease liabilities, current 14,627 12,573
Total current liabilities 310,372 255,188
Term loan, net 30,458 34,612
Deferred revenue, noncurrent 2,644 4,082
Operating lease liabilities, noncurrent 212,935 208,422
Other liabilities 1,630 891
Total liabilities 558,039 503,195
Commitments and contingencies (Note 8)
Stockholders' equity    
Common stock 2 2
Additional paid-in capital 1,540,200 1,034,252
Accumulated other comprehensive loss (2,703) (626)
Accumulated deficit (1,142,530) (829,788)
Total stockholders’ equity 394,969 203,840
Total liabilities and stockholders’ equity $ 953,008 $ 707,035
v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Oct. 31, 2022
Oct. 31, 2021
Income Statement [Abstract]        
Revenues $ 141,439 $ 100,337 $ 396,981 $ 266,488
Cost of revenues 15,160 9,581 41,354 27,364
Gross profit 126,279 90,756 355,627 239,124
Operating expenses:        
Research and development 75,509 53,788 215,947 142,209
Sales and marketing 113,713 73,295 320,228 194,009
General and administrative 38,165 31,761 128,064 81,027
Total operating expenses 227,387 158,844 664,239 417,245
Loss from operations (101,108) (68,088) (308,612) (178,121)
Interest income and other income (expense), net 1,291 (446) (219) (766)
Interest expense (457) (353) (1,125) (18,078)
Loss before provision for income taxes (100,274) (68,887) (309,956) (196,965)
Provision for income taxes 631 393 2,786 1,328
Net loss $ (100,905) $ (69,280) $ (312,742) $ (198,293)
Net loss per share:        
Basic (in dollars per share) $ (0.49) $ (0.37) $ (1.60) $ (1.15)
Diluted (in dollars per share) $ (0.49) $ (0.37) $ (1.60) $ (1.15)
Weighted-average shares used in calculating net loss per share:        
Basic (in shares) 204,657 185,022 195,261 172,684
Diluted (in shares) 204,657 185,022 195,261 172,684
v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Oct. 31, 2022
Oct. 31, 2021
Statement of Comprehensive Income [Abstract]        
Net loss $ (100,905) $ (69,280) $ (312,742) $ (198,293)
Other comprehensive loss:        
Net unrealized gains (losses) on marketable securities 176 (37) (29) (44)
Change in foreign currency translation adjustments (1,225) (100) (2,048) (195)
Comprehensive loss $ (101,954) $ (69,417) $ (314,819) $ (198,532)
v3.22.2.2
Condensed Consolidated Statements of Stockholders' Equity (Deficit) - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Beginning balance (in shares) at Jan. 31, 2021   161,480      
Beginning balance at Jan. 31, 2021 $ (12,789) $ 2 $ 528,616 $ 39 $ (541,446)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock upon the exercise of options (in shares)   5,470      
Issuance of common stock upon the exercise of options 12,651   12,651    
Vesting of early exercised stock options 1,893   1,893    
Repurchases of common stock (in shares)   (10)      
Issuance of common stock upon the vesting and settlement of restricted stock units (in shares)   1,733      
Issuance of common stock under employee share purchase plan (in shares)   537      
Issuance of common stock under employee share purchase plan 13,350   13,350    
Issuance of common stock upon conversion of convertible notes--related party (in shares)   17,013      
Issuance of common stock upon conversion of convertible notes—related party 368,459   368,459    
Stock-based compensation expense 62,429   62,429    
Net unrealized gains (losses) on marketable securities (44)     (44)  
Foreign currency translation adjustments (195)     (195)  
Net loss (198,293)       (198,293)
Ending balance (in shares) at Oct. 31, 2021   186,223      
Ending balance at Oct. 31, 2021 247,461 $ 2 987,398 (200) (739,739)
Beginning balance (in shares) at Jul. 31, 2021   183,725      
Beginning balance at Jul. 31, 2021 279,264 $ 2 949,784 (63) (670,459)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock upon the exercise of options (in shares)   1,434      
Issuance of common stock upon the exercise of options 3,836   3,836    
Vesting of early exercised stock options 588   588    
Issuance of common stock upon the vesting and settlement of restricted stock units (in shares)   777      
Issuance of common stock under employee share purchase plan (in shares)   287      
Issuance of common stock under employee share purchase plan 7,223   7,223    
Stock-based compensation expense 25,967   25,967    
Net unrealized gains (losses) on marketable securities (37)     (37)  
Foreign currency translation adjustments (100)     (100)  
Net loss (69,280)       (69,280)
Ending balance (in shares) at Oct. 31, 2021   186,223      
Ending balance at Oct. 31, 2021 247,461 $ 2 987,398 (200) (739,739)
Beginning balance (in shares) at Jan. 31, 2022   188,298      
Beginning balance at Jan. 31, 2022 $ 203,840 $ 2 1,034,252 (626) (829,788)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock upon the exercise of options (in shares) 1,599 1,599      
Issuance of common stock upon the exercise of options $ 4,607   4,607    
Vesting of early exercised stock options 595   595    
Issuance of common stock upon the vesting and settlement of restricted stock units (in shares)   2,802      
Issuance of common stock under employee share purchase plan (in shares)   720      
Issuance of common stock under employee share purchase plan 17,115   17,115    
Private placement, net of issuance costs (in shares)   19,273      
Issuance of common stock upon private placement—related party, net of issuance costs 347,288   347,288    
Stock-based compensation expense 136,343   136,343    
Net unrealized gains (losses) on marketable securities (29)     (29)  
Foreign currency translation adjustments (2,048)     (2,048)  
Net loss (312,742)       (312,742)
Ending balance (in shares) at Oct. 31, 2022   212,692      
Ending balance at Oct. 31, 2022 394,969 $ 2 1,540,200 (2,703) (1,142,530)
Beginning balance (in shares) at Jul. 31, 2022   191,666      
Beginning balance at Jul. 31, 2022 92,121 $ 2 1,135,398 (1,654) (1,041,625)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock upon the exercise of options (in shares)   321      
Issuance of common stock upon the exercise of options 978   978    
Vesting of early exercised stock options 134   134    
Issuance of common stock upon the vesting and settlement of restricted stock units (in shares)   1,065      
Issuance of common stock under employee share purchase plan (in shares)   367      
Issuance of common stock under employee share purchase plan 7,959   7,959    
Issuance of common stock upon private placement-related party, net of issuance costs (in shares)   19,273      
Issuance of common stock upon private placement—related party, net of issuance costs 347,288   347,288    
Stock-based compensation expense 48,443   48,443    
Net unrealized gains (losses) on marketable securities 176     176  
Foreign currency translation adjustments (1,225)     (1,225)  
Net loss (100,905)       (100,905)
Ending balance (in shares) at Oct. 31, 2022   212,692      
Ending balance at Oct. 31, 2022 $ 394,969 $ 2 $ 1,540,200 $ (2,703) $ (1,142,530)
v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Cash flows from operating activities    
Net loss $ (312,742) $ (198,293)
Adjustments to reconcile net loss to net cash used in operating activities:    
Allowance for expected credit losses 1,045 1,238
Depreciation and amortization 9,507 5,501
Amortization of deferred contract acquisition costs 10,509 5,939
Stock-based compensation expense 135,834 62,260
Net amortization of premium on marketable securities 50 701
Non-cash lease expense 11,426 13,242
Amortization of discount on convertible notes and term loan issuance costs 13 10,640
Non-cash interest expense 0 6,670
Changes in operating assets and liabilities:    
Accounts receivable (1,377) (13,979)
Prepaid expenses and other current assets (22,155) (8,988)
Other assets (3,201) (6,316)
Accounts payable (3,333) 9,063
Accrued expenses and other liabilities 15,225 10,571
Deferred revenue 40,614 48,827
Operating lease liabilities (10,374) 8,464
Net cash used in operating activities (128,959) (44,460)
Cash flows from investing activities    
Purchases of marketable securities (72,216) (61,923)
Sales of marketable securities 0 373
Maturities of marketable securities 110,204 124,588
Purchases of property and equipment (3,140) (40,303)
Capitalized internal-use software costs (952) (487)
Net cash provided by investing activities 33,896 22,248
Cash flows from financing activities    
Proceeds from term loan, net of issuance costs 0 9,000
Repayment of term loan (2,667) (1,167)
Proceeds from private placement—related party, net of offering costs 347,384 0
Repurchases of common stock (2) (36)
Proceeds from exercise of stock options 4,627 12,827
Proceeds from employee stock purchase plan 17,115 13,350
Net cash provided by financing activities 366,457 33,974
Effect of foreign exchange rates on cash, cash equivalents, and restricted cash (1,207) 178
Net increase in cash, cash equivalents, and restricted cash 270,187 11,940
Cash, cash equivalents, and restricted cash    
Beginning of period 240,403 259,878
End of period 510,590 271,818
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets    
Cash and cash equivalents 509,091 271,818
Restricted cash 1,499 0
Total cash, cash equivalents, and restricted cash 510,590 271,818
Supplemental cash flow data    
Cash paid for income taxes 3,617 943
Cash paid for interest 900 611
Supplemental non-cash investing and financing information    
Purchase of property and equipment in accounts payable and accrued expenses 651 818
Vesting of early exercised stock options 595 1,893
Issuance of common stock upon conversion of convertible notes—related party 0 368,459
Private placement—related party offering costs not yet paid $ 96 $ 0
v3.22.2.2
Organization
9 Months Ended
Oct. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization Organization
Organization and Description of Business
Asana, Inc. (“Asana” or the “Company”) was incorporated in the state of Delaware on December 16, 2008. Asana is a work management platform that helps teams orchestrate work, from daily tasks to cross-functional strategic initiatives. The Company is headquartered in San Francisco, California.
v3.22.2.2
Basis of Presentation and Summary of Significant Accounting Policies
9 Months Ended
Oct. 31, 2022
Accounting Policies [Abstract]  
Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Summary of Significant Accounting Policies
Principles of Consolidation
The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) and include the accounts of the Company’s wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated on consolidation.
The unaudited condensed consolidated balance sheet as of January 31, 2022 included herein was derived from the audited financial statements as of that date, but does not include all disclosures, including certain notes required by GAAP on an annual reporting basis. In management's opinion, the unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to state fairly the balance sheet, statements of comprehensive loss, and stockholders' equity (deficit), and statements of cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year or any future period.
These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K filed with the SEC on March 24, 2022.
Use of Estimates
The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Estimates and assumptions reflected in the consolidated financial statements include, but are not limited to, revenue recognition, the useful lives and carrying values of long-lived assets, the fair value of the Convertible Notes (as defined in Note 6), the fair value of common stock for periods prior to the Company’s direct listing of its Class A common stock on the NYSE (the “Direct Listing”), stock-based compensation expense, the period of benefit for deferred contract acquisition costs, and income taxes. Actual results could differ from those estimates.
Risks and Uncertainties
At the onset of the COVID-19 pandemic, the Company temporarily closed its headquarters and other physical offices, required its employees and contractors to work remotely, and implemented travel restrictions, all of which represented a significant disruption in how the Company operates its business. While the Company’s headquarters and certain other physical offices have since reopened and business travel has resumed, due to ongoing variants of COVID-19 and other public health concerns, we anticipate that operations may continue to be affected by the COVID-19 pandemic. The operations of the Company’s partners and customers have likewise been disrupted. While the duration and extent of the COVID-19 pandemic depends on future developments that cannot be accurately predicted at this time, such as the extent and effectiveness of containment and mitigation actions, the emergence of variant strains of the virus, and the availability and widespread use of effective vaccines, it has already had an adverse effect on the global economy and the ultimate societal and economic impact of the COVID-19 pandemic remains unknown. In particular, the conditions caused by this pandemic could affect the rate of global IT spending and could adversely affect demand for the Company’s platform, lengthen the Company’s sales cycles, reduce the value or duration of subscriptions, negatively impact collections of accounts receivable, reduce expected spending from new customers, cause some of the Company’s paying customers to go out of business, limit the ability of the Company’s direct sales force to travel to customers and potential customers, and affect contraction or attrition rates of the Company’s customers, all of which could adversely affect the Company’s business, results of operations, and financial condition. As of the date of issuance of the financial statements, the Company is not aware of any specific event or circumstance related to COVID-19 that would require it to update its estimates or judgments or adjust the
carrying value of its assets or liabilities. Actual results could differ from those estimates and any such differences may be material to the condensed consolidated financial statements. 
Concentration of Credit Risk
Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash, cash equivalents, and marketable securities. Substantially all the Company’s cash and cash equivalents are held with financial institutions that management believes are of high credit quality. Such deposits may, at times, exceed federally insured limits. Cash equivalents are invested in highly rated money market funds.
A large portion of the Company’s customers authorize the Company to bill their credit card accounts through the Company’s third-party payment processing partners, presenting additional credit risk. For the three and nine months ended October 31, 2022 and October 31, 2021, there was no individual customer that accounted for 10% or more of the Company’s revenues. No customer accounted for more than 10% of accounts receivable as of October 31, 2022 and January 31, 2022.
Fair Value of Financial Instruments
The carrying amounts reflected in the condensed consolidated balance sheets for cash equivalents, accounts receivable, and accounts payable approximate their respective fair values due to the short maturities of those instruments. Available-for-sale marketable securities are recorded at fair value on the condensed consolidated balance sheets.
The Company accounts for certain of its financial assets at fair value. In determining and disclosing fair value, the Company uses a fair value hierarchy established by U.S. GAAP. The guidance defines fair value as an exit price, representing the amount that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Company utilizes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:
Level 1—Observable inputs such as quoted prices in active markets.
Level 2—Inputs other than the quoted prices in active markets that are observable either directly or indirectly.
Level 3—Unobservable inputs in which there is little or no market data and that are significant to the fair value of the assets or liabilities.
In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value.
Reclassifications
The Company reclassified $4.1 million of deferred revenue, noncurrent from other liabilities, noncurrent for the comparative condensed consolidated balance sheets to conform to the current year presentation.
Recently Issued Accounting Pronouncements Not Yet Adopted
In October 2021, the FASB issued ASU No. 2021-08, Business Combinations - Accounting for Contract Liabilities from Contracts with Customers, which requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities from acquired contracts using the revenue recognition guidance under Accounting Standards Codification Topic 606 in order to align the recognition of a contract liability with the definition of a performance obligation. The guidance is effective for acquisitions completed during the Company’s fiscal years beginning after February 1, 2023. Adoption of the ASU should be applied prospectively. Early adoption is also permitted, including adoption in an interim period. If early adopted, the amendments are applied retrospectively to all business combinations for which the acquisition date occurred during the fiscal year of adoption. The Company is currently evaluating the impact of adopting ASU 2021-08.
Recently Adopted Accounting PronouncementsOn February 1, 2022, the Company adopted ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity, which simplifies the accounting for certain convertible instruments, amends the guidance on derivative scope exceptions for contracts in an entity's own equity, and modifies the guidance on diluted earnings per share calculations as a result of these changes. The adoption of the guidance did not have an impact on the Company’s condensed consolidated financial statements.
v3.22.2.2
Revenues
9 Months Ended
Oct. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
Deferred Revenue and Remaining Performance Obligations
The Company recognized $32.1 million and $19.8 million of revenues during the three months ended October 31, 2022 and 2021, respectively, that were included in the deferred revenue balances at January 31, 2022 and 2021, respectively. The Company recognized $156.3 million and $95.6 million of revenues during the nine months ended October 31, 2022 and 2021, respectively, that were included in the deferred revenue balances at January 31, 2022 and 2021, respectively.
Deferred revenue that will be recognized within the next twelve months is recorded as current deferred revenue, and the remaining portion is recorded as noncurrent. As of October 31, 2022, the Company's remaining performance obligations from subscription contracts was $271.6 million, of which the Company expects to recognize approximately 86% as revenues over the next 12 months and the remainder thereafter.
Deferred Contract Acquisition Costs
Deferred contract acquisition costs are amortized over a period of benefit of three years. The period of benefit was estimated by considering factors such as historical customer attrition rates, the useful life of the Company’s technology, and the impact of competition in the software-as-a-service industry.
The following table summarizes the activity of deferred contract acquisition costs (in thousands):
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Beginning balance$28,227 $16,974 $22,771 $12,093 
Capitalization of contract acquisition costs7,399 4,268 19,427 12,771
Amortization of deferred contract acquisition costs(3,937)(2,317)(10,509)(5,939)
Ending balance$31,689 $18,925 $31,689 $18,925 
Deferred contract acquisition costs, current$15,513 $9,099 $15,513 $9,099 
Deferred contract acquisition costs, noncurrent16,176 9,826 16,176 9,826 
Total deferred contract acquisition costs$31,689 $18,925 $31,689 $18,925 
Deferred contract acquisition costs, current is presented within prepaid expenses and other current assets in the condensed consolidated balance sheets. Deferred contract acquisition costs, noncurrent is presented within other assets in the condensed consolidated balance sheets.
v3.22.2.2
Fair Value Measurements
9 Months Ended
Oct. 31, 2022
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The following table summarizes, for assets and liabilities measured at fair value, the respective fair value and classification by level of input within the fair value hierarchy (in thousands):
October 31, 2022
Level 1Level 2Level 3Total
Current Assets
Cash equivalents
Money market funds$121,075 $— $— $121,075 
Total cash equivalents$121,075 $— $— $121,075 
Marketable securities
U.S. government agency securities$25,848 $— $— $25,848 
Commercial paper— 472 — 472 
Corporate bonds— 10,002 — 10,002 
Total marketable securities$25,848 $10,474 $— $36,322 
Total assets$146,923 $10,474 $— $157,397 
January 31, 2022
Level 1Level 2Level 3Total
Current Assets
Cash equivalents
Money market funds$176,855 $— $— $176,855 
Total cash equivalents$176,855 $— $— $176,855 
Marketable securities
Commercial paper$— $44,943 $— $44,943 
Corporate bonds— 26,685— 26,685 
Total marketable securities$— $71,628 $— $71,628 
Non-current Assets
Corporate bonds$— $2,760 $— $2,760 
Total assets$176,855 $74,388 $— $251,243 
The following table summarizes the Company's investments in marketable securities on the condensed consolidated balance sheets (in thousands):
October 31, 2022
Amortized
Cost
Gross
Unrealized
Gains
Gross Unrealized LossesEstimated
Fair Value
Current Assets
U.S. government agency securities$25,891 $— $(43)$25,848 
Commercial paper473 — (1)472 
Corporate bonds10,054 — (52)10,002 
Total marketable securities$36,418 $— $(96)$36,322 
Total assets$36,418 $— $(96)$36,322 

January 31, 2022
Amortized
Cost
Gross
Unrealized
Gains
Gross Unrealized Losses
Estimated
Fair Value
Current Assets
Commercial paper$44,951 $— $(8)$44,943 
Corporate bonds26,730 (48)26,685 
Total marketable securities$71,681 $$(56)$71,628 
Non-current Assets
Corporate bonds$2,774 $— $(14)$2,760 
Total assets$74,455 $$(70)$74,388 
The Company periodically evaluates its investments for expected credit losses. The unrealized losses on the available-for-sale securities were primarily due to unfavorable changes in interest rates subsequent to the initial purchase of these securities. Gross unrealized losses of the Company’s available-for-sale securities that have been in a continuous unrealized loss position for 12 months or longer were immaterial as of October 31, 2022 and January 31, 2022. The Company expects to recover the full carrying value of its available-for-sale securities in an unrealized loss position as it does not intend or anticipate a need to sell these securities prior to recovering the associated unrealized losses. The Company also expects any credit losses would be immaterial based on the high-grade credit rating for each of such available-for-sale securities. As a result, the Company does not consider any portion of the unrealized losses as of October 31, 2022 or January 31, 2022 to represent credit losses.
In April 2020, the Company entered into a five-year $40.0 million term loan agreement with Silicon Valley Bank (the “Existing Credit Facility”). As of October 31, 2022, $40.0 million was drawn and $35.7 million was outstanding under this term loan. The fair value of the term loan approximates its carrying value since the interest rate is at market. The Existing Credit Facility was terminated on November 7, 2022, in connection with the entry by the Company into the Credit Agreement (as defined and further described in Note 16. Subsequent Events below).
In January 2020 and June 2020, the Company issued convertible notes to a trust affiliated with the Company’s Chief Executive Officer (“CEO”). The fair value of the convertible notes at issuance on January 30, 2020 and June 26, 2020 was $203.0 million and $112.0 million, respectively. The Company considers the fair values of the convertible notes to be a Level 3 measurement as the fair value is estimated using significant unobservable inputs. The fair value of the convertible notes was measured using a binomial lattice model. Inputs used to determine the estimated fair value of the convertible notes include the equity volatility of comparable companies, the risk-free interest rate, and the estimated fair value of the Company’s common stock.
On July 1, 2021, pursuant to the terms of the Convertible Notes (as defined in Note 6), upon meeting the closing trading price criteria for optional conversion by the Company, the Company elected to convert the Convertible Notes into the Company’s Class B Common Stock. Refer to Note 6. Convertible Notes—Related Party for additional information.
v3.22.2.2
Balance Sheet Components
9 Months Ended
Oct. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Components Balance Sheet Components
Property and Equipment, Net
Property and equipment, net, consisted of the following (in thousands):
October 31, 2022January 31, 2022
Desktop and other computer equipment$1,707 $2,217 
Furniture and fixtures9,504 8,788 
Leasehold improvements96,242 94,458 
Capitalized internal-use software13,686 12,249 
Construction in progress1
1,158 1,327 
Total gross property and equipment122,297 119,039 
Less: Accumulated depreciation and amortization(27,665)(19,407)
Total property and equipment, net$94,632 $99,632 
__________________
1 Construction in progress is primarily related to the build-out and improvements across the Company’s global offices. Refer to Note 9. Leases for additional information.
Depreciation and amortization expense was $3.2 million and $3.1 million for the three months ended October 31, 2022 and 2021, respectively and $9.5 million and $5.5 million for the nine months ended October 31, 2022 and 2021, respectively.
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following (in thousands):
October 31, 2022January 31, 2022
Prepaid expenses$23,970 $22,970 
Deferred contract acquisition costs, current15,513 10,797 
Other current assets11,472 6,511 
Total prepaid expenses and other current assets$50,955 $40,278 
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):
October 31, 2022January 31, 2022
Accrued payroll liabilities$16,158 $16,906 
Accrued taxes for fringe benefits7,092 3,953 
Accrued advertising expenses9,014 9,359 
Accrued property and equipment445 465 
Accrued consulting expenses5,682 4,303 
Accrued sales and value-added taxes11,860 7,219 
Other liabilities25,181 18,710 
Total accrued expenses and other current liabilities$75,432 $60,915 
v3.22.2.2
Convertible Notes—Related Party
9 Months Ended
Oct. 31, 2022
Related Party Transactions [Abstract]  
Convertible Notes - Related Party Convertible Notes—Related Party
The Company issued two 3.5% unsecured senior mandatory convertible promissory notes in January 2020 (“January 2020 Convertible Note”) and June 2020 (“June 2020 Convertible Note”) (collectively, the “Convertible Notes”) in principal amounts of $300.0 million and $150.0 million, respectively. The Convertible Notes were not transferable except to affiliates, contained no financial or restrictive covenants, and were expressly subordinated in right of payment to any of the Company’s existing or future secured indebtedness. Consistent with the terms of the Convertible Notes, in April and June 2020, the Dustin Moskovitz Trust entered into subordination agreements with Silicon Valley Bank to confirm the parties’ agreement that the Convertible Notes are subordinated to the five-year $40.0 million secured term loan facility.
On July 1, 2021, upon meeting the closing trading price criteria for optional conversion by the Company (based on the Company’s Class A common stock closing trading price during the last 30 trading days of the previous calendar quarter as stated in the original terms of the Convertible Notes), the Company elected to convert both of the Convertible Notes into an aggregate of 17,012,822 shares of the Company’s Class B Common Stock pursuant to the original terms of the embedded, substantive conversion features in the Convertible Notes. The Company accounted for the conversion by adjusting its additional paid-in capital for the net carrying amount of the Convertible Notes as of July 1, 2021 of $368.5 million (including accrued interest of $20.4 million and the unamortized debt discount of $101.9 million).
Interest expense related to the Convertible Notes recorded prior to the conversion was as follows (in thousands):
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Amortization of debt discount$— $— $— $10,628 
Contractual interest expense— — — 6,670 
Total interest expense$— $— $— $17,298 
Debt
In April 2020, the Company entered into the Existing Credit Facility with Silicon Valley Bank with a maturation date of April 2025. As of October 31, 2022, $40.0 million was drawn and $35.7 million was outstanding under this term loan. As of October 31, 2022, the Company was in compliance with all financial covenants related to the term loan. The Existing Credit Facility was terminated on November 7, 2022 in connection with the entry by the Company into the Credit Agreement (as defined and further described in Note 16. Subsequent Events below).

The net carrying amount of the term loan was as follows (in thousands):
October 31, 2022January 31, 2022
Principal$35,667 $38,333 
Accrued interest161 74 
Unamortized loan issuance costs(42)(54)
Net carrying amount$35,786 $38,353 
Term loan, current $5,328 $3,741 
Term loan, noncurrent$30,458 $34,612 
v3.22.2.2
Debt
9 Months Ended
Oct. 31, 2022
Debt Disclosure [Abstract]  
Debt Convertible Notes—Related Party
The Company issued two 3.5% unsecured senior mandatory convertible promissory notes in January 2020 (“January 2020 Convertible Note”) and June 2020 (“June 2020 Convertible Note”) (collectively, the “Convertible Notes”) in principal amounts of $300.0 million and $150.0 million, respectively. The Convertible Notes were not transferable except to affiliates, contained no financial or restrictive covenants, and were expressly subordinated in right of payment to any of the Company’s existing or future secured indebtedness. Consistent with the terms of the Convertible Notes, in April and June 2020, the Dustin Moskovitz Trust entered into subordination agreements with Silicon Valley Bank to confirm the parties’ agreement that the Convertible Notes are subordinated to the five-year $40.0 million secured term loan facility.
On July 1, 2021, upon meeting the closing trading price criteria for optional conversion by the Company (based on the Company’s Class A common stock closing trading price during the last 30 trading days of the previous calendar quarter as stated in the original terms of the Convertible Notes), the Company elected to convert both of the Convertible Notes into an aggregate of 17,012,822 shares of the Company’s Class B Common Stock pursuant to the original terms of the embedded, substantive conversion features in the Convertible Notes. The Company accounted for the conversion by adjusting its additional paid-in capital for the net carrying amount of the Convertible Notes as of July 1, 2021 of $368.5 million (including accrued interest of $20.4 million and the unamortized debt discount of $101.9 million).
Interest expense related to the Convertible Notes recorded prior to the conversion was as follows (in thousands):
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Amortization of debt discount$— $— $— $10,628 
Contractual interest expense— — — 6,670 
Total interest expense$— $— $— $17,298 
Debt
In April 2020, the Company entered into the Existing Credit Facility with Silicon Valley Bank with a maturation date of April 2025. As of October 31, 2022, $40.0 million was drawn and $35.7 million was outstanding under this term loan. As of October 31, 2022, the Company was in compliance with all financial covenants related to the term loan. The Existing Credit Facility was terminated on November 7, 2022 in connection with the entry by the Company into the Credit Agreement (as defined and further described in Note 16. Subsequent Events below).

The net carrying amount of the term loan was as follows (in thousands):
October 31, 2022January 31, 2022
Principal$35,667 $38,333 
Accrued interest161 74 
Unamortized loan issuance costs(42)(54)
Net carrying amount$35,786 $38,353 
Term loan, current $5,328 $3,741 
Term loan, noncurrent$30,458 $34,612 
v3.22.2.2
Commitments and Contingencies
9 Months Ended
Oct. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Standby Letters of Credit
As of October 31, 2022, the Company had several letters of credit outstanding related to its operating leases totaling $23.5 million. The letters of credit expire at various dates between 2023 and 2034.
Purchase Commitments
In January 2021, the Company entered into a 60-month contract with Amazon Web Services for hosting-related services. Pursuant to the terms of the contract, the Company is required to spend a minimum of $103.5 million over the term of the agreement. The commitment may be offset by up to $7.3 million in additional credits subject to the Company meeting certain conditions of the agreement, of which $5.0 million have been earned as of October 31, 2022 and the remainder of which the Company has determined are probable to be earned. As of October 31, 2022, the Company had purchase commitments remaining of $60.4 million for hosting-related services and $21.8 million with various parties primarily for software-based services which are not reflected on the Company’s condensed consolidated balance sheet.
Indemnification Agreements
The Company has entered into indemnification agreements with its directors and officers that may require the Company to indemnify its directors and officers against any liabilities that may arise by reason of their status or service as directors or officers, other than liabilities arising from willful misconduct of the individual.
Additionally, in the ordinary course of business, the Company enters into agreements of varying scope and terms pursuant to which it agrees to indemnify customers, vendors, lessors, business partners, and other parties with respect to certain matters, including, but not limited to, losses arising out of the breach of such agreements, services to be provided by the Company, or from intellectual property infringement claims made by third parties. For the nine months ended October 31, 2022 and 2021, no demands have been made upon the Company to provide indemnification under such agreements, and there are no claims that the Company is aware of that could have a material adverse effect on its financial position, results of operations, or cash flows.
Contingencies
From time to time in the normal course of business, the Company may be subject to various claims and other legal matters arising in the ordinary course of business. As of October 31, 2022, the Company believes that none of its current legal proceedings would have a material adverse effect on its financial position, results of operations, or cash flows.
v3.22.2.2
Leases
9 Months Ended
Oct. 31, 2022
Leases [Abstract]  
Leases Leases
The Company leases real estate facilities under non-cancelable operating leases with various expiration dates through fiscal 2034. The Company has no lease agreements that are classified as finance leases.
The components of lease costs, lease term, and discount rate for operating leases are as follows:
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Operating lease costs (in thousands)$9,444 $9,545 $26,993 $27,909 
Short-term lease costs (in thousands)718 955 2,204 2,580 
Variable lease costs (in thousands)644 91 1,665 688 
Total lease costs (in thousands)$10,806 $10,591 $30,862 $31,177 
October 31, 2022October 31, 2021
Weighted-average remaining lease term (in years)10.411.7
Weighted-average discount rate9.6 %9.5 %
Supplemental cash flow information related to operating leases are as follows (in thousands):
Nine Months Ended October 31,
20222021
Cash paid for amounts included in the measurement of operating lease liabilities$25,999 $25,544 
Right-of-use assets obtained in exchange for new operating lease liabilities$17,529 $5,864 
The cash paid for the operating lease liability amount in 2021 in the table above has been updated to include all cash payments.
Future minimum lease payments (net of tenant improvement receivables) under non-cancelable operating leases with initial lease terms in excess of one year included in the Company’s lease liabilities as of October 31, 2022 are as follows (in thousands):
Fiscal year ending January 31,Operating Lease Payments (Net)
2023$8,742 
202434,227 
202532,598 
202631,871 
2027 and thereafter261,508 
Total undiscounted operating lease payments$368,946 
Less: imputed interest(141,384)
Total operating lease liabilities$227,562 
The Company has additional operating lease arrangements for office space in San Francisco which had not yet commenced as of October 31, 2022. The San Francisco lease commences and rent payments begin in the first quarter of fiscal 2024 and will expire in the third quarter of fiscal 2029. The future minimum lease payments related to this lease totaled $30.2 million as of October 31, 2022.
The Company has an operating lease arrangement for office space in New York City, which commenced in August 2022 and expires in the first quarter of fiscal 2029. As part of the agreement, the Company was required to restrict $1.5 million of cash which is reflected on the condensed consolidated balance sheet as of October 31, 2022.
v3.22.2.2
Net Loss per Share
9 Months Ended
Oct. 31, 2022
Earnings Per Share [Abstract]  
Net Loss per Share Net Loss per Share
The Company computes net loss per share using the two-class method required for multiple classes of common stock and participating securities. The rights, including the liquidation and dividend rights, of the Class A common stock and Class B common stock are substantially identical, other than voting rights. Accordingly, the Class A common stock and Class B common stock share equally in the Company’s net income and losses.

The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data):
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Numerator:
Net loss$(100,905)$(69,280)$(312,742)$(198,293)
Denominator:
Weighted-average shares used in calculating net loss per share, basic and diluted204,657185,022 195,261172,684 
Net loss per share, basic and diluted$(0.49)$(0.37)$(1.60)$(1.15)
The potential shares of common stock that were excluded from the computation of diluted net loss per share for the period presented because including them would have been anti-dilutive are as follows (in thousands):
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Stock options12,405 16,238 12,405 16,238 
Restricted stock units12,048 8,629 12,048 8,629 
Early exercised stock options55 286 55 286 
Shares issuable pursuant to the 2020 Employee Stock Purchase Plan160 74 160 74 
Total24,668 25,227 24,668 25,227 
As noted in Note 6. Convertible Notes—Related Party, the Convertible Notes were converted into 17,012,822 shares of the Company’s Class B Common Stock in July 2021. The shares underlying the Convertible Notes were previously excluded from diluted EPS because the effect would have been anti-dilutive.
v3.22.2.2
Stockholders' Deficit
9 Months Ended
Oct. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Stockholders' Deficit Stockholders’ Deficit
Common Stock
There are two classes of common stock that total 1,500,000,000 authorized shares: 1,000,000,000 authorized shares of Class A common stock and 500,000,000 authorized shares of Class B common stock. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share. Each share of Class B common stock is entitled to 10 votes per share and is convertible into one share of Class A common stock. There were 127,203,023 shares of Class A common stock and 85,489,359 shares of Class B common stock issued and outstanding as of October 31, 2022.
All changes in the number of shares of common stock outstanding for the three and nine months ended October 31, 2022 and 2021, were related to changes in Class A common stock, other than the shares of Class B common stock issued in conversion of the Convertible Notes during the three and six months ended July 31, 2021.
Private Placement—Related Party
In September 2022, the Company issued and sold 19,273,127 shares of its Class A common stock to the Company’s CEO in a private placement transaction at a purchase price of $18.16 per share, based on the closing trading price of the Company’s Class A common stock on September 2, 2022, for aggregate gross proceeds of approximately $350 million. The Company incurred issuance costs related to the private placement of $2.7 million. The Company recorded the proceeds (net of issuance costs) of $347.3 million as additional paid-in capital within the condensed consolidated statements of stockholders’ equity for the three and nine months ended October 31, 2022.
Stock Plans
The Company has a 2009 Stock Plan (the “2009 Plan”), a 2012 Amended and Restated Stock Plan (the “2012 Plan”), and a 2020 Equity Incentive Plan (the “2020 Plan”). Each plan was initially established to grant equity awards to employees and consultants of the Company to assist in attracting, retaining, and motivating employees and consultants and to provide incentives to promote the success of the Company’s business. The number of shares reserved for issuance under the 2020 Plan increased by 9,414,923 shares of Class A common stock on February 1, 2022 pursuant to the evergreen provisions of the 2020 Plan.
Options granted under each of the plans may be either incentive stock options (“ISOs”) or nonqualified stock options (“NSOs”). ISOs may be granted only to Company employees (including officers and directors who are also employees). NSOs may be granted to Company employees and consultants. Restricted stock units (“RSUs”) may also be granted under the 2012 Plan and the 2020 Plan. Options under the 2012 and 2020 Plans may be granted for periods of up to 10 years. The exercise price of ISOs and NSOs shall not be less than 100% of the fair market value of the shares on the date of grant. Options granted generally vest over four years and vest at a rate of 25% upon the first anniversary of the vesting commencement date and 1/48 per month thereafter.
The Company has also issued RSUs pursuant to the 2012 Plan and 2020 Plan. RSUs granted generally vest on a predefined schedule over a period of two to four years contingent upon continuous service.
Shares of common stock purchased under the 2012 Plan or the 2020 Plan are subject to certain restrictions and repurchase rights.
Stock Options
Option activity under the Company’s combined stock plans is set forth below (in thousands, except years and per share data):
Number of
Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual Term
(in years)
Aggregate
Intrinsic Value
Balances at January 31, 202214,383 $3.02 6.1$711,455 
Options granted— 
Options exercised (1,599)2.89 
Options cancelled (379)5.34 
Balances at October 31, 202212,405 $2.96 5.3$218,820 
Vested and exercisable at October 31, 202210,615 $2.69 5.1$190,098 
Vested and expected to vest at October 31, 202212,461 $2.96 5.3$219,758 
The total intrinsic value of options exercised during the periods presented was as follows:
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Aggregate intrinsic value of options exercised (in thousands)$6,531 $137,980 $47,586 $303,122 
Early Exercise of Employee Options
The 2009 Plan and 2012 Plan allow for the early exercise of stock options. The consideration received for an early exercise of an option is considered to be a deposit of the exercise price, and the related dollar amount is recorded as a liability and reflected in accrued expenses and other current liabilities and other liabilities in the condensed consolidated balance sheets. This liability is reclassified to additional paid-in capital as the awards vest. If a stock option is early exercised, the unvested shares may be repurchased by the Company in case of employment termination at the price paid by the purchaser for such shares. Shares that were subject to repurchase totaled 55,351 and 286,068 at October 31, 2022 and 2021, respectively.
Restricted Stock Units
The Company’s RSU activity is set forth below (in thousands, except per share data):
Number of
Shares
Weighted-
Average
Grant Date Fair Value
Aggregate
Intrinsic Value
Unvested RSUs at January 31, 20228,812 $47.07 $462,426 
RSUs granted 7,922 21.20 
RSUs vested(3,066)40.61 
RSUs cancelled/forfeited(1,620)36.80 
Unvested RSUs at October 31, 202212,048 $33.09 $248,148 
RSUs vested, not yet released at October 31, 2022766 $33.54 
Stock-Based Compensation Expense
Stock-based compensation for stock-based awards to employees and non-employees in the Company’s condensed consolidated statements of operations for the periods below were as follows (in thousands):
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Cost of revenues$461 $192 $1,200 $462 
Research and development25,030 14,351 70,606 34,741 
Sales and marketing15,018 7,138 43,028 16,641 
General and administrative7,482 4,172 21,000 10,421 
Total stock-based compensation expense$47,991 $25,853 $135,834 $62,265 
The stock-based compensation expense related to options granted to non-employees for the three and nine months ended October 31, 2022 and 2021 were not material.
Total unrecognized compensation costs related to unvested awards not yet recognized under all equity compensation plans was as follows:
October 31, 2022
Unrecognized Expense
(in thousands)
Weighted-Average Expected Recognition Period
(in years)
Stock options$5,037 1.4
RSUs362,632 2.9
Total unrecognized stock-based compensation expense$367,669 2.8
2020 Employee Stock Purchase Plan
In September 2020, the Board of Directors adopted and approved the 2020 Employee Stock Purchase Plan (“ESPP”), which became effective on the effective date of the Company's registration statement on Form S-1 filed with the SEC in connection with the Direct Listing. The ESPP initially reserved and authorized the issuance of up to a total of 2,000,000 shares of Class A common stock to participating employees. The number of shares reserved under the ESPP was automatically increased on February 1, 2021 to 3,614,801 shares of Class A common stock and to 5,497,785 on February 1, 2022 pursuant to the evergreen provisions of the ESPP.
The ESPP provides for 24-month offering periods beginning September 16 and March 16 of each year, with each offering period consisting of four six-month purchase periods (except for the initial offering period which began on September 30, 2020 and ended on September 15, 2022), with purchase dates annually on March 15 and September 15. The purchase price of shares of Class A common stock in an offering will be the lesser of: (i) 85% of the fair market value of such shares of Class A common stock on the offering date, and (ii) 85% of the fair market value of such shares of Class A common stock on the applicable purchase date.
Current employees who purchase shares under the ESPP may not sell such shares prior to the first anniversary of such purchase date and such shares will be designated with an applicable resale restriction.
The Company recognized stock-based compensation expense related to the ESPP of $4.3 million and $1.6 million during the three months ended October 31, 2022 and 2021, respectively, and $8.0 million and $6.0 million during the nine months ended October 31, 2022 and 2021, respectively. As of October 31, 2022 and January 31, 2022, $2.8 million and $7.2 million, respectively, has been withheld in contributions from employees. As of October 31, 2022, total unrecognized compensation costs related to the ESPP was $19.7 million, which will be amortized over a weighted average vesting term of 1.2 years.
v3.22.2.2
Interest Income and Other Income (Expense), Net
9 Months Ended
Oct. 31, 2022
Other Income and Expenses [Abstract]  
Interest Income and Other Income (Expense), Net Interest Income and Other Income (Expense), Net
Interest income and other income (expense), net consist of the following (in thousands):
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Interest income$2,264 $187 $3,007 $363 
Unrealized gains (losses) on foreign currency transactions(211)(629)(602)(632)
Other non-operating expense(762)(4)(2,624)(497)
Total interest income and other income (expense), net$1,291 $(446)$(219)$(766)
Other non-operating expense consists primarily of realized foreign currency gains and losses on transactions in the periods presented.
v3.22.2.2
Income Taxes
9 Months Ended
Oct. 31, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income TaxesThe Company's income tax expense was $0.6 million and $0.4 million for the three months ended October 31, 2022 and 2021, respectively, and $2.8 million and $1.3 million for the nine months ended October 31, 2022 and 2021, respectively, primarily due to income taxes in foreign jurisdictions.
v3.22.2.2
Geographic Information
9 Months Ended
Oct. 31, 2022
Segment Reporting [Abstract]  
Geographic Information Geographic Information
The following tables set forth revenues and long-lived assets, including operating lease ROU assets, by geographic area for the periods presented below (in thousands):
Revenues
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
United States$85,976 $58,622 $238,600 $153,832 
International55,463 41,715 158,381 112,656 
Total revenues$141,439 $100,337 $396,981 $266,488 
Revenues by geography are based on the billing address of the customer.
Long-Lived Assets
October 31, 2022January 31, 2022
United States$268,095 $267,007 
International6,176 6,708 
Total long-lived assets$274,271 $273,715 
v3.22.2.2
Related Party Transactions
9 Months Ended
Oct. 31, 2022
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
In January and June 2020, the Company issued Convertible Notes to a trust affiliated with the Company’s CEO. The Company elected to convert these Convertible Notes on July 1, 2021. See Note 6. Convertible Notes—Related Party for further details.
During the fiscal year ended January 31, 2020, the Company began leasing certain office facilities from a company affiliated with Board members of the Company. Rent payments made under these leases totaled $0.5 million and $0.5 million during the three months ended October 31, 2022 and 2021, respectively, and $1.4 million and $1.6 million during the nine months ended October 31, 2022 and 2021, respectively.
The Company has entered into an advertising agreement with a company affiliated with a Board member of the Company. Payments under this agreement totaled $0.5 million and $0.2 million during the three months ended October 31, 2022 and 2021, respectively, and $1.5 million and $0.7 million during the nine months ended October 31, 2022 and 2021, respectively.
The Company has entered into an advertising agreement with a company affiliated with a Board member of the Company. Payments under this agreement totaled $0.7 million during the three months ended October 31, 2022 and $2.5 million during the nine months ended October 31, 2022. This company was not a related party during the three and nine months ended October 31, 2021.
In September 2022, the Company issued and sold 19,273,127 shares of its Class A common stock to the Company’s CEO in a private placement transaction at a purchase price of $18.16 per share, based on the closing trading price of the Company’s Class A common stock on September 2, 2022, for aggregate gross proceeds of approximately $350 million. See Note 11. Stockholders’ Deficit for further details.
v3.22.2.2
Subsequent Events
9 Months Ended
Oct. 31, 2022
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Credit Agreement
On November 7, 2022, the Company entered into a credit agreement (the “Credit Agreement”) with several banks and other financial institutions or entities (each, a “Lender”) for which Silicon Valley Bank (the “Administrative Agent”) is acting as issuing lender, administrative agent and collateral agent, under which the Company may incur loans in an aggregate principal amount not to exceed $150,000,000, consisting of a term loan facility in an aggregate principal amount equal to $50,000,000 and a revolving loan facility in an aggregate principal amount of up to $100,000,000, including a $30,000,000 letter of credit sub-facility (collectively, the “Facility”), which may be used to finance acquisitions permitted under the terms of the Credit Agreement, to refinance the Company’s obligations outstanding under the Existing Credit Facility, to pay related fees and expenses and for general corporate purposes. The Facility matures on November 7, 2026. The Facility refinances the Existing Credit Facility.
Borrowings under the Facility may be designated as ABR Loans or SOFR Loans, subject to certain terms and conditions under the Credit Agreement. ABR Loans accrue interest at a rate per year equal to 1.25% plus the highest of (a) the prime rate for the day, as published in the money rates section of the Wall Street Journal or any successor publication thereto, (b) the federal funds rate plus 0.50%, (c) the Adjusted Term SOFR Rate (defined below) for a one-month interest period in effect on such day (or if such day is not a business day, the immediately preceding business day) plus 1.00% and (d) 0.00%. Term SOFR Loans accrue interest at a rate per annum equal to (a) 2.25% plus (b) the greater of (i) 0.00% and (ii) the sum of (x) the forward-looking term rate for a period comparable to the applicable available tenor based on SOFR that is published by CME Group Benchmark Administration Ltd or a successor for the applicable interest period and (y) (1) if the applicable interest period is one month, 0.10%, (2) if the applicable interest period is three months, 0.10% or (c) if the applicable interest period is six months, 0.10% (the rate pursuant to clause (b), the “Adjusted Term SOFR Rate”).
The obligations under the Credit Agreement are secured by a lien on substantially all of the tangible and intangible property of the Company and by a pledge of all of the equity interests of the Company’s material subsidiaries, subject to certain limitations, including with respect to foreign subsidiaries. In addition, any material subsidiaries of the Company, subject to certain exclusions, including with respect to foreign subsidiaries, will be required to guaranty the obligations under the Credit Agreement and grant a lien and pledge, as applicable, on substantially all of their tangible and intangible property to secure the obligations under the Credit Agreement. In connection with entering into the Credit Agreement, and as a condition precedent to borrowing loans thereunder, the Company has entered into certain ancillary agreements, including, but not limited to, a guarantee and collateral agreement.
The Credit Agreement includes customary conditions to borrowing and covenants, including restrictions on the Company’s ability to incur liens, incur indebtedness, make or hold investments, execute certain change of control transactions, business combinations or other fundamental changes to their business, dispose of assets, make certain types of restricted payments or enter into certain related party transactions, subject to customary exceptions. In addition, the Credit Agreement contains financial covenants that require the Company to maintain a consolidated adjusted quick ratio of 1.25 to 1.00 tested on a quarterly basis, as well as a minimum cash adjusted EBITDA tested quarterly. The Credit Agreement contains customary events of default relating to, among other things, payment defaults, breach of covenants, cross acceleration to material indebtedness, bankruptcy-related defaults, judgment defaults, and the occurrence of certain change of control events. Non-compliance with one or more of the covenants and restrictions or the occurrence of an event of default could result in the full or partial principal balance of the Credit Agreement becoming immediately due and payable and termination of the commitments.
If an event of default occurs, the lenders under the Credit Agreement will be entitled to take various actions, including the termination of any undrawn commitments and the acceleration of amounts due under the Credit Agreement.
Reduction in force
On November 15, 2022, the Company authorized a plan to reduce its global headcount by approximately 9%. This plan was adopted as part of a restructuring intended to improve operational efficiencies and operating costs and better align the Company’s workforce with current business needs, top strategic priorities, and key growth opportunities.
The Company estimates that it will incur non-recurring charges of approximately $9-$11 million in connection with the headcount reductions, primarily related to cash expenditures for employee transition, notice period and severance payments, employee benefits, and related facilitation costs as well as non-cash expenditures related to the vesting of share-based awards. The costs associated with the restructuring will be included in the Company’s GAAP results, but will be excluded from the Company’s non-GAAP results. Of the total amounts above, $8-$10 million is expected to result in future cash outlays.
The Company expects that the majority of the restructuring charges will be incurred in the fourth quarter of fiscal 2023 and that the implementation of the headcount reductions, including cash payments, will be substantially complete by the end of the fourth quarter of fiscal 2023.
Potential position eliminations in each country are subject to local law and consultation requirements, which may extend this process beyond the fourth quarter of fiscal 2023 in limited cases. The charges that the Company expects to incur are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual expenses may differ materially from the estimates disclosed above.
v3.22.2.2
Basis of Presentation and Summary of Significant Accounting Policies (Policies)
9 Months Ended
Oct. 31, 2022
Accounting Policies [Abstract]  
Principles of Consolidation
Principles of Consolidation
The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”) and include the accounts of the Company’s wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated on consolidation.
Basis of Accounting
The unaudited condensed consolidated balance sheet as of January 31, 2022 included herein was derived from the audited financial statements as of that date, but does not include all disclosures, including certain notes required by GAAP on an annual reporting basis. In management's opinion, the unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to state fairly the balance sheet, statements of comprehensive loss, and stockholders' equity (deficit), and statements of cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year or any future period.
These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K filed with the SEC on March 24, 2022.
Use of Estimates
Use of Estimates
The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the consolidated financial statements and accompanying notes. Estimates and assumptions reflected in the consolidated financial statements include, but are not limited to, revenue recognition, the useful lives and carrying values of long-lived assets, the fair value of the Convertible Notes (as defined in Note 6), the fair value of common stock for periods prior to the Company’s direct listing of its Class A common stock on the NYSE (the “Direct Listing”), stock-based compensation expense, the period of benefit for deferred contract acquisition costs, and income taxes. Actual results could differ from those estimates.
Risks and Uncertainties
Risks and Uncertainties
At the onset of the COVID-19 pandemic, the Company temporarily closed its headquarters and other physical offices, required its employees and contractors to work remotely, and implemented travel restrictions, all of which represented a significant disruption in how the Company operates its business. While the Company’s headquarters and certain other physical offices have since reopened and business travel has resumed, due to ongoing variants of COVID-19 and other public health concerns, we anticipate that operations may continue to be affected by the COVID-19 pandemic. The operations of the Company’s partners and customers have likewise been disrupted. While the duration and extent of the COVID-19 pandemic depends on future developments that cannot be accurately predicted at this time, such as the extent and effectiveness of containment and mitigation actions, the emergence of variant strains of the virus, and the availability and widespread use of effective vaccines, it has already had an adverse effect on the global economy and the ultimate societal and economic impact of the COVID-19 pandemic remains unknown. In particular, the conditions caused by this pandemic could affect the rate of global IT spending and could adversely affect demand for the Company’s platform, lengthen the Company’s sales cycles, reduce the value or duration of subscriptions, negatively impact collections of accounts receivable, reduce expected spending from new customers, cause some of the Company’s paying customers to go out of business, limit the ability of the Company’s direct sales force to travel to customers and potential customers, and affect contraction or attrition rates of the Company’s customers, all of which could adversely affect the Company’s business, results of operations, and financial condition. As of the date of issuance of the financial statements, the Company is not aware of any specific event or circumstance related to COVID-19 that would require it to update its estimates or judgments or adjust the
carrying value of its assets or liabilities. Actual results could differ from those estimates and any such differences may be material to the condensed consolidated financial statements.
Concentration of Credit Risk
Concentration of Credit Risk
Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash, cash equivalents, and marketable securities. Substantially all the Company’s cash and cash equivalents are held with financial institutions that management believes are of high credit quality. Such deposits may, at times, exceed federally insured limits. Cash equivalents are invested in highly rated money market funds.
A large portion of the Company’s customers authorize the Company to bill their credit card accounts through the Company’s third-party payment processing partners, presenting additional credit risk. For the three and nine months ended October 31, 2022 and October 31, 2021, there was no individual customer that accounted for 10% or more of the Company’s revenues. No customer accounted for more than 10% of accounts receivable as of October 31, 2022 and January 31, 2022.
Fair Value of Financial Instruments
Fair Value of Financial Instruments
The carrying amounts reflected in the condensed consolidated balance sheets for cash equivalents, accounts receivable, and accounts payable approximate their respective fair values due to the short maturities of those instruments. Available-for-sale marketable securities are recorded at fair value on the condensed consolidated balance sheets.
The Company accounts for certain of its financial assets at fair value. In determining and disclosing fair value, the Company uses a fair value hierarchy established by U.S. GAAP. The guidance defines fair value as an exit price, representing the amount that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Company utilizes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:
Level 1—Observable inputs such as quoted prices in active markets.
Level 2—Inputs other than the quoted prices in active markets that are observable either directly or indirectly.
Level 3—Unobservable inputs in which there is little or no market data and that are significant to the fair value of the assets or liabilities.
In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value.
Reclassifications
The Company reclassified $4.1 million of deferred revenue, noncurrent from other liabilities, noncurrent for the comparative condensed consolidated balance sheets to conform to the current year presentation.
Recently Issued Accounting Pronouncements Not Yet Adopted and Recently Adopted Accounting Pronouncements
Recently Issued Accounting Pronouncements Not Yet Adopted
In October 2021, the FASB issued ASU No. 2021-08, Business Combinations - Accounting for Contract Liabilities from Contracts with Customers, which requires an acquirer in a business combination to recognize and measure contract assets and contract liabilities from acquired contracts using the revenue recognition guidance under Accounting Standards Codification Topic 606 in order to align the recognition of a contract liability with the definition of a performance obligation. The guidance is effective for acquisitions completed during the Company’s fiscal years beginning after February 1, 2023. Adoption of the ASU should be applied prospectively. Early adoption is also permitted, including adoption in an interim period. If early adopted, the amendments are applied retrospectively to all business combinations for which the acquisition date occurred during the fiscal year of adoption. The Company is currently evaluating the impact of adopting ASU 2021-08.
Recently Adopted Accounting PronouncementsOn February 1, 2022, the Company adopted ASU No. 2020-06, Accounting for Convertible Instruments and Contracts in an Entity's Own Equity, which simplifies the accounting for certain convertible instruments, amends the guidance on derivative scope exceptions for contracts in an entity's own equity, and modifies the guidance on diluted earnings per share calculations as a result of these changes. The adoption of the guidance did not have an impact on the Company’s condensed consolidated financial statements.
v3.22.2.2
Revenues (Tables)
9 Months Ended
Oct. 31, 2022
Revenue from Contract with Customer [Abstract]  
Schedule of Deferred Contract Acquisition Costs
The following table summarizes the activity of deferred contract acquisition costs (in thousands):
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Beginning balance$28,227 $16,974 $22,771 $12,093 
Capitalization of contract acquisition costs7,399 4,268 19,427 12,771
Amortization of deferred contract acquisition costs(3,937)(2,317)(10,509)(5,939)
Ending balance$31,689 $18,925 $31,689 $18,925 
Deferred contract acquisition costs, current$15,513 $9,099 $15,513 $9,099 
Deferred contract acquisition costs, noncurrent16,176 9,826 16,176 9,826 
Total deferred contract acquisition costs$31,689 $18,925 $31,689 $18,925 
v3.22.2.2
Fair Value Measurements (Tables)
9 Months Ended
Oct. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis
The following table summarizes, for assets and liabilities measured at fair value, the respective fair value and classification by level of input within the fair value hierarchy (in thousands):
October 31, 2022
Level 1Level 2Level 3Total
Current Assets
Cash equivalents
Money market funds$121,075 $— $— $121,075 
Total cash equivalents$121,075 $— $— $121,075 
Marketable securities
U.S. government agency securities$25,848 $— $— $25,848 
Commercial paper— 472 — 472 
Corporate bonds— 10,002 — 10,002 
Total marketable securities$25,848 $10,474 $— $36,322 
Total assets$146,923 $10,474 $— $157,397 
January 31, 2022
Level 1Level 2Level 3Total
Current Assets
Cash equivalents
Money market funds$176,855 $— $— $176,855 
Total cash equivalents$176,855 $— $— $176,855 
Marketable securities
Commercial paper$— $44,943 $— $44,943 
Corporate bonds— 26,685— 26,685 
Total marketable securities$— $71,628 $— $71,628 
Non-current Assets
Corporate bonds$— $2,760 $— $2,760 
Total assets$176,855 $74,388 $— $251,243 
Schedule of Debt Securities, Available-for-sale
The following table summarizes the Company's investments in marketable securities on the condensed consolidated balance sheets (in thousands):
October 31, 2022
Amortized
Cost
Gross
Unrealized
Gains
Gross Unrealized LossesEstimated
Fair Value
Current Assets
U.S. government agency securities$25,891 $— $(43)$25,848 
Commercial paper473 — (1)472 
Corporate bonds10,054 — (52)10,002 
Total marketable securities$36,418 $— $(96)$36,322 
Total assets$36,418 $— $(96)$36,322 

January 31, 2022
Amortized
Cost
Gross
Unrealized
Gains
Gross Unrealized Losses
Estimated
Fair Value
Current Assets
Commercial paper$44,951 $— $(8)$44,943 
Corporate bonds26,730 (48)26,685 
Total marketable securities$71,681 $$(56)$71,628 
Non-current Assets
Corporate bonds$2,774 $— $(14)$2,760 
Total assets$74,455 $$(70)$74,388 
v3.22.2.2
Balance Sheet Components (Tables)
9 Months Ended
Oct. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Property and Equipment, Net
Property and Equipment, Net
Property and equipment, net, consisted of the following (in thousands):
October 31, 2022January 31, 2022
Desktop and other computer equipment$1,707 $2,217 
Furniture and fixtures9,504 8,788 
Leasehold improvements96,242 94,458 
Capitalized internal-use software13,686 12,249 
Construction in progress1
1,158 1,327 
Total gross property and equipment122,297 119,039 
Less: Accumulated depreciation and amortization(27,665)(19,407)
Total property and equipment, net$94,632 $99,632 
__________________
1 Construction in progress is primarily related to the build-out and improvements across the Company’s global offices. Refer to Note 9. Leases for additional information.
Schedule of Prepaid Expenses and Other Current Assets
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following (in thousands):
October 31, 2022January 31, 2022
Prepaid expenses$23,970 $22,970 
Deferred contract acquisition costs, current15,513 10,797 
Other current assets11,472 6,511 
Total prepaid expenses and other current assets$50,955 $40,278 
Schedule of Accrued Expenses and Other Current Liabilities
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in thousands):
October 31, 2022January 31, 2022
Accrued payroll liabilities$16,158 $16,906 
Accrued taxes for fringe benefits7,092 3,953 
Accrued advertising expenses9,014 9,359 
Accrued property and equipment445 465 
Accrued consulting expenses5,682 4,303 
Accrued sales and value-added taxes11,860 7,219 
Other liabilities25,181 18,710 
Total accrued expenses and other current liabilities$75,432 $60,915 
v3.22.2.2
Convertible Notes—Related Party (Tables)
9 Months Ended
Oct. 31, 2022
Related Party Transactions [Abstract]  
Summary of the Carrying Amount of Convertible Debt
Interest expense related to the Convertible Notes recorded prior to the conversion was as follows (in thousands):
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Amortization of debt discount$— $— $— $10,628 
Contractual interest expense— — — 6,670 
Total interest expense$— $— $— $17,298 
v3.22.2.2
Debt (Tables)
9 Months Ended
Oct. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
The net carrying amount of the term loan was as follows (in thousands):
October 31, 2022January 31, 2022
Principal$35,667 $38,333 
Accrued interest161 74 
Unamortized loan issuance costs(42)(54)
Net carrying amount$35,786 $38,353 
Term loan, current $5,328 $3,741 
Term loan, noncurrent$30,458 $34,612 
v3.22.2.2
Leases (Tables)
9 Months Ended
Oct. 31, 2022
Leases [Abstract]  
Schedule of Lease Cost
The components of lease costs, lease term, and discount rate for operating leases are as follows:
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Operating lease costs (in thousands)$9,444 $9,545 $26,993 $27,909 
Short-term lease costs (in thousands)718 955 2,204 2,580 
Variable lease costs (in thousands)644 91 1,665 688 
Total lease costs (in thousands)$10,806 $10,591 $30,862 $31,177 
October 31, 2022October 31, 2021
Weighted-average remaining lease term (in years)10.411.7
Weighted-average discount rate9.6 %9.5 %
Supplemental cash flow information related to operating leases are as follows (in thousands):
Nine Months Ended October 31,
20222021
Cash paid for amounts included in the measurement of operating lease liabilities$25,999 $25,544 
Right-of-use assets obtained in exchange for new operating lease liabilities$17,529 $5,864 
Schedule of Operating Lease, Liability, Maturity
Future minimum lease payments (net of tenant improvement receivables) under non-cancelable operating leases with initial lease terms in excess of one year included in the Company’s lease liabilities as of October 31, 2022 are as follows (in thousands):
Fiscal year ending January 31,Operating Lease Payments (Net)
2023$8,742 
202434,227 
202532,598 
202631,871 
2027 and thereafter261,508 
Total undiscounted operating lease payments$368,946 
Less: imputed interest(141,384)
Total operating lease liabilities$227,562 
v3.22.2.2
Net Loss per Share (Tables)
9 Months Ended
Oct. 31, 2022
Earnings Per Share [Abstract]  
Calculation of Basic and Diluted Net Loss Per Share
The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data):
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Numerator:
Net loss$(100,905)$(69,280)$(312,742)$(198,293)
Denominator:
Weighted-average shares used in calculating net loss per share, basic and diluted204,657185,022 195,261172,684 
Net loss per share, basic and diluted$(0.49)$(0.37)$(1.60)$(1.15)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The potential shares of common stock that were excluded from the computation of diluted net loss per share for the period presented because including them would have been anti-dilutive are as follows (in thousands):
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Stock options12,405 16,238 12,405 16,238 
Restricted stock units12,048 8,629 12,048 8,629 
Early exercised stock options55 286 55 286 
Shares issuable pursuant to the 2020 Employee Stock Purchase Plan160 74 160 74 
Total24,668 25,227 24,668 25,227 
v3.22.2.2
Stockholders' Deficit (Tables)
9 Months Ended
Oct. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Options Activity
Option activity under the Company’s combined stock plans is set forth below (in thousands, except years and per share data):
Number of
Shares
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual Term
(in years)
Aggregate
Intrinsic Value
Balances at January 31, 202214,383 $3.02 6.1$711,455 
Options granted— 
Options exercised (1,599)2.89 
Options cancelled (379)5.34 
Balances at October 31, 202212,405 $2.96 5.3$218,820 
Vested and exercisable at October 31, 202210,615 $2.69 5.1$190,098 
Vested and expected to vest at October 31, 202212,461 $2.96 5.3$219,758 
Summary of Weighted-Average Grant-Date Fair Value of Options Granted and Total Intrinsic Value of Options Exercised
The total intrinsic value of options exercised during the periods presented was as follows:
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Aggregate intrinsic value of options exercised (in thousands)$6,531 $137,980 $47,586 $303,122 
Schedule of RSU Activity
The Company’s RSU activity is set forth below (in thousands, except per share data):
Number of
Shares
Weighted-
Average
Grant Date Fair Value
Aggregate
Intrinsic Value
Unvested RSUs at January 31, 20228,812 $47.07 $462,426 
RSUs granted 7,922 21.20 
RSUs vested(3,066)40.61 
RSUs cancelled/forfeited(1,620)36.80 
Unvested RSUs at October 31, 202212,048 $33.09 $248,148 
RSUs vested, not yet released at October 31, 2022766 $33.54 
Schedule of Stock-Based Compensation Expense
Stock-based compensation for stock-based awards to employees and non-employees in the Company’s condensed consolidated statements of operations for the periods below were as follows (in thousands):
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Cost of revenues$461 $192 $1,200 $462 
Research and development25,030 14,351 70,606 34,741 
Sales and marketing15,018 7,138 43,028 16,641 
General and administrative7,482 4,172 21,000 10,421 
Total stock-based compensation expense$47,991 $25,853 $135,834 $62,265 
Summary of Unrecognized Compensation Costs, Related to Unvested Awards
Total unrecognized compensation costs related to unvested awards not yet recognized under all equity compensation plans was as follows:
October 31, 2022
Unrecognized Expense
(in thousands)
Weighted-Average Expected Recognition Period
(in years)
Stock options$5,037 1.4
RSUs362,632 2.9
Total unrecognized stock-based compensation expense$367,669 2.8
v3.22.2.2
Interest Income and Other Income (Expense), Net (Tables)
9 Months Ended
Oct. 31, 2022
Other Income and Expenses [Abstract]  
Schedule of Interest and Other Income (Expense), Net
Interest income and other income (expense), net consist of the following (in thousands):
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
Interest income$2,264 $187 $3,007 $363 
Unrealized gains (losses) on foreign currency transactions(211)(629)(602)(632)
Other non-operating expense(762)(4)(2,624)(497)
Total interest income and other income (expense), net$1,291 $(446)$(219)$(766)
v3.22.2.2
Geographic Information (Tables)
9 Months Ended
Oct. 31, 2022
Segment Reporting [Abstract]  
Revenue by Geographic Areas
Revenues
Three Months Ended October 31,Nine Months Ended October 31,
2022202120222021
United States$85,976 $58,622 $238,600 $153,832 
International55,463 41,715 158,381 112,656 
Total revenues$141,439 $100,337 $396,981 $266,488 
Long-lived Assets by Geographic Areas
Long-Lived Assets
October 31, 2022January 31, 2022
United States$268,095 $267,007 
International6,176 6,708 
Total long-lived assets$274,271 $273,715 
v3.22.2.2
Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) - USD ($)
$ in Thousands
Oct. 31, 2022
Jan. 31, 2022
Accounting Policies [Abstract]    
Deferred revenue, noncurrent $ 2,644 $ 4,082
v3.22.2.2
Revenues - Narrative (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Oct. 31, 2022
Oct. 31, 2021
Revenue from Contract with Customer [Abstract]        
Deferred revenue recognized $ 32.1 $ 19.8 $ 156.3 $ 95.6
Deferred contract acquisition costs, amortization period 3 years   3 years  
v3.22.2.2
Revenues - Performance Obligations (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-11-01
$ in Millions
Oct. 31, 2022
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 271.6
Revenue, remaining performance obligation, percentage 86.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period 12 months
v3.22.2.2
Revenues - Deferred Contract Acquisition Costs Activity (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Oct. 31, 2022
Oct. 31, 2021
Jan. 31, 2022
Capitalized Contract Costs [Roll Forward]          
Beginning balance $ 28,227 $ 16,974 $ 22,771 $ 12,093  
Capitalization of contract acquisition costs 7,399 4,268 19,427 12,771  
Amortization of deferred contract acquisition costs (3,937) (2,317) (10,509) (5,939)  
Ending balance 31,689 18,925 31,689 18,925  
Deferred contract acquisition costs, current 15,513 9,099 15,513 9,099 $ 10,797
Deferred contract acquisition costs, noncurrent 16,176 9,826 16,176 9,826  
Total deferred contract acquisition costs $ 31,689 $ 18,925 $ 31,689 $ 18,925 $ 22,771
v3.22.2.2
Fair Value Measurements - Fair Value Hierarchy (Details) - USD ($)
$ in Thousands
Oct. 31, 2022
Jan. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents $ 121,075 $ 176,855
Marketable securities 36,322 71,628
Total assets 157,397 251,243
Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 121,075 176,855
U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 25,848  
Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 472 44,943
Corporate bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 10,002 26,685
Non-current Assets   2,760
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 121,075 176,855
Marketable securities 25,848 0
Total assets 146,923 176,855
Level 1 | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 121,075 176,855
Level 1 | U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 25,848  
Level 1 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
Level 1 | Corporate bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
Non-current Assets   0
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 0 0
Marketable securities 10,474 71,628
Total assets 10,474 74,388
Level 2 | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 0 0
Level 2 | U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0  
Level 2 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 472 44,943
Level 2 | Corporate bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 10,002 26,685
Non-current Assets   2,760
Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 0 0
Marketable securities 0 0
Total assets 0 0
Level 3 | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 0 0
Level 3 | U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0  
Level 3 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 0 0
Level 3 | Corporate bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities $ 0 0
Non-current Assets   $ 0
v3.22.2.2
Fair Value Measurements - Investments (Details) - USD ($)
$ in Thousands
Oct. 31, 2022
Jan. 31, 2022
Current assets    
Amortized Cost $ 36,418 $ 71,681
Gross Unrealized Gains 0 3
Gross Unrealized Losses (96) (56)
Estimated Fair Value 36,322 71,628
Non-current Assets    
Total assets, amortized cost 36,418 74,455
Total assets, gross unrealized gains 0 3
Total assets, gross unrealized losses (96) (70)
Total assets, estimated fair value 36,322 74,388
U.S. government agency securities    
Current assets    
Amortized Cost 25,891  
Gross Unrealized Gains 0  
Gross Unrealized Losses (43)  
Estimated Fair Value 25,848  
Commercial paper    
Current assets    
Amortized Cost 473 44,951
Gross Unrealized Gains 0 0
Gross Unrealized Losses (1) (8)
Estimated Fair Value 472 44,943
Corporate bonds    
Current assets    
Amortized Cost 10,054 26,730
Gross Unrealized Gains 0 3
Gross Unrealized Losses (52) (48)
Estimated Fair Value $ 10,002 26,685
Non-current Assets    
Amortized Cost   2,774
Gross Unrealized Gains   0
Gross Unrealized Losses   (14)
Estimated Fair Value   $ 2,760
v3.22.2.2
Fair Value Measurements - Narrative (Details) - USD ($)
9 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Jan. 31, 2022
Jun. 30, 2020
Jun. 26, 2020
Apr. 30, 2020
Jan. 30, 2020
Debt Instrument [Line Items]              
Debt drawn $ 0 $ 9,000,000          
Term Loan Agreement | Secured Debt              
Debt Instrument [Line Items]              
Loan agreement term (in years)       5 years   5 years  
Long-term debt, face amount       $ 40,000,000   $ 40,000,000  
Debt drawn 40,000,000            
Principal $ 35,667,000   $ 38,333,000        
January 2020 Convertible Note | Fair Value              
Debt Instrument [Line Items]              
Convertible debt, fair value disclosures             $ 203,000,000
June 2020 Convertible Note | Fair Value              
Debt Instrument [Line Items]              
Convertible debt, fair value disclosures         $ 112,000,000    
v3.22.2.2
Balance Sheet Components - Property and Equipment (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Oct. 31, 2022
Oct. 31, 2021
Jan. 31, 2022
Property, Plant and Equipment [Line Items]          
Total gross property and equipment $ 122,297   $ 122,297   $ 119,039
Less: Accumulated depreciation and amortization (27,665)   (27,665)   (19,407)
Property and equipment, net 94,632   94,632   99,632
Depreciation and amortization 3,200 $ 3,100 9,500 $ 5,500  
Desktop and other computer equipment          
Property, Plant and Equipment [Line Items]          
Total gross property and equipment 1,707   1,707   2,217
Furniture and fixtures          
Property, Plant and Equipment [Line Items]          
Total gross property and equipment 9,504   9,504   8,788
Leasehold improvements          
Property, Plant and Equipment [Line Items]          
Total gross property and equipment 96,242   96,242   94,458
Capitalized internal-use software          
Property, Plant and Equipment [Line Items]          
Total gross property and equipment 13,686   13,686   12,249
Construction in progress          
Property, Plant and Equipment [Line Items]          
Total gross property and equipment $ 1,158   $ 1,158   $ 1,327
v3.22.2.2
Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($)
$ in Thousands
Oct. 31, 2022
Jan. 31, 2022
Oct. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Prepaid expenses $ 23,970 $ 22,970  
Deferred contract acquisition costs, current 15,513 10,797 $ 9,099
Other current assets 11,472 6,511  
Prepaid expenses and other current assets $ 50,955 $ 40,278  
v3.22.2.2
Balance Sheet Components - Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Oct. 31, 2022
Jan. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Accrued payroll liabilities $ 16,158 $ 16,906
Accrued taxes for fringe benefits 7,092 3,953
Accrued advertising expenses 9,014 9,359
Accrued property and equipment 445 465
Accrued consulting expenses 5,682 4,303
Accrued sales and value-added taxes 11,860 7,219
Other liabilities 25,181 18,710
Accrued expenses and other current liabilities $ 75,432 $ 60,915
v3.22.2.2
Convertible Notes—Related Party - Narrative (Details)
1 Months Ended 6 Months Ended
Jul. 31, 2021
shares
Jun. 30, 2020
USD ($)
debt_instrument
Oct. 31, 2022
USD ($)
Jan. 31, 2022
USD ($)
Jul. 01, 2021
USD ($)
Apr. 30, 2020
USD ($)
Jan. 31, 2020
USD ($)
Convertible Debt              
Related Party Transaction [Line Items]              
Number of debt instruments issued in the period | debt_instrument   2          
Net carrying amount         $ 368,500,000    
Accrued interest         20,400,000    
Unamortized debt discount         $ 101,900,000    
Convertible Debt | Common Class B              
Related Party Transaction [Line Items]              
Number of shares from conversion (in shares) | shares 17,012,822            
Convertible Debt | June 2020 Convertible Note              
Related Party Transaction [Line Items]              
Convertible notes, interest rate, stated percentage   3.50%          
Long-term debt, face amount   $ 150,000,000          
Convertible Debt | January 2020 Convertible Note              
Related Party Transaction [Line Items]              
Convertible notes, interest rate, stated percentage             3.50%
Long-term debt, face amount             $ 300,000,000
Secured Debt | Term Loan Agreement              
Related Party Transaction [Line Items]              
Long-term debt, face amount   $ 40,000,000       $ 40,000,000  
Long-term debt, term (in years)   5 years       5 years  
Net carrying amount     $ 35,786,000 $ 38,353,000      
Accrued interest     $ 161,000 $ 74,000      
v3.22.2.2
Convertible Notes—Related Party - Interest Expense (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Oct. 31, 2022
Oct. 31, 2021
Related Party Transaction [Line Items]        
Amortization of debt discount     $ 13 $ 10,640
Convertible Notes        
Related Party Transaction [Line Items]        
Amortization of debt discount $ 0 $ 0 0 10,628
Contractual interest expense 0 0 0 6,670
Interest expense $ 0 $ 0 $ 0 $ 17,298
v3.22.2.2
Debt - Narrative (Details) - USD ($)
9 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Jan. 31, 2022
Jun. 30, 2020
Apr. 30, 2020
Line of Credit Facility [Line Items]          
Debt drawn $ 0 $ 9,000,000      
Secured Debt | Term Loan Agreement          
Line of Credit Facility [Line Items]          
Long-term debt, term (in years)       5 years 5 years
Long-term debt, face amount       $ 40,000,000 $ 40,000,000
Debt drawn 40,000,000        
Debt outstanding $ 35,667,000   $ 38,333,000    
v3.22.2.2
Debt - Net Carrying Amount of Term Loan (Details) - Secured Debt - Term Loan Agreement - USD ($)
$ in Thousands
Oct. 31, 2022
Jan. 31, 2022
Debt Instrument [Line Items]    
Principal $ 35,667 $ 38,333
Accrued interest 161 74
Unamortized loan issuance costs (42) (54)
Net carrying amount 35,786 38,353
Term loan, current 5,328 3,741
Term loan, noncurrent $ 30,458 $ 34,612
v3.22.2.2
Commitments and Contingencies (Details) - USD ($)
$ in Millions
1 Months Ended
Jan. 31, 2021
Oct. 31, 2022
Loss Contingencies [Line Items]    
Letters of credit outstanding, amount   $ 23.5
Long-term purchase commitment, period 60 months  
Minimum spending amount $ 103.5  
Maximum offsetting amount $ 7.3  
Credits earned   5.0
Hosting-Related Services    
Loss Contingencies [Line Items]    
Purchase commitment remaining   60.4
Software-based Services    
Loss Contingencies [Line Items]    
Purchase commitment remaining   $ 21.8
v3.22.2.2
Leases - Components of Lease Cost (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Oct. 31, 2022
Oct. 31, 2021
Leases [Abstract]        
Operating lease costs (in thousands) $ 9,444 $ 9,545 $ 26,993 $ 27,909
Short-term lease costs (in thousands) 718 955 2,204 2,580
Variable lease costs (in thousands) 644 91 1,665 688
Total lease costs (in thousands) $ 10,806 $ 10,591 $ 30,862 $ 31,177
Weighted-average remaining lease term (in years) 10 years 4 months 24 days 11 years 8 months 12 days 10 years 4 months 24 days 11 years 8 months 12 days
Weighted-average discount rate 9.60% 9.50% 9.60% 9.50%
Cash paid for amounts included in the measurement of operating lease liabilities     $ 25,999 $ 25,544
Right-of-use assets obtained in exchange for new operating lease liabilities     $ 17,529 $ 5,864
v3.22.2.2
Leases - Future Minimum Lease Payments (Details)
$ in Thousands
Oct. 31, 2022
USD ($)
Leases [Abstract]  
2023 $ 8,742
2024 34,227
2025 32,598
2026 31,871
2027 and thereafter 261,508
Total undiscounted operating lease payments 368,946
Less: imputed interest (141,384)
Total operating lease liabilities $ 227,562
v3.22.2.2
Leases (Details) - USD ($)
$ in Thousands
Oct. 31, 2022
Jan. 31, 2022
Leases [Abstract]    
Liabilities for leases that have not yet commenced $ 30,200  
Restricted cash, noncurrent $ 1,499 $ 0
v3.22.2.2
Net Loss per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Oct. 31, 2022
Oct. 31, 2021
Numerator:        
Net loss $ (100,905) $ (69,280) $ (312,742) $ (198,293)
Denominator:        
Weighted-average shares used in calculating net loss per share, basic (in shares) 204,657 185,022 195,261 172,684
Weighted-average shares used in calculating net loss per share, diluted (in shares) 204,657 185,022 195,261 172,684
Net loss per share, basic (in dollars per share) $ (0.49) $ (0.37) $ (1.60) $ (1.15)
Net loss per share, diluted (in dollars per share) $ (0.49) $ (0.37) $ (1.60) $ (1.15)
v3.22.2.2
Net Loss per Share - Antidilutive Securities (Details) - shares
1 Months Ended 3 Months Ended 9 Months Ended
Jul. 31, 2021
Oct. 31, 2022
Oct. 31, 2021
Oct. 31, 2022
Oct. 31, 2021
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]          
Antidilutive securities (in shares)   24,668,000 25,227,000 24,668,000 25,227,000
Convertible Debt | Common Class B          
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]          
Number of shares from conversion (in shares) 17,012,822        
Stock options          
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]          
Antidilutive securities (in shares)   12,405,000 16,238,000 12,405,000 16,238,000
Restricted stock units          
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]          
Antidilutive securities (in shares)   12,048,000 8,629,000 12,048,000 8,629,000
Early exercised stock options          
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]          
Antidilutive securities (in shares)   55,000 286,000 55,351 286,068
Shares issuable pursuant to the 2020 Employee Stock Purchase Plan          
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]          
Antidilutive securities (in shares)   160,000 74,000 160,000 74,000
v3.22.2.2
Stockholders' Deficit - Narrative (Details)
$ / shares in Units, $ in Thousands
1 Months Ended 3 Months Ended 9 Months Ended
Feb. 01, 2022
shares
Sep. 30, 2020
period
shares
Sep. 30, 2022
USD ($)
$ / shares
shares
Oct. 31, 2022
USD ($)
shares
Oct. 31, 2021
USD ($)
shares
Oct. 31, 2022
USD ($)
vote
shares
Oct. 31, 2021
USD ($)
shares
Jan. 31, 2022
USD ($)
Feb. 01, 2021
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Common stock, shares authorized (in shares)       1,500,000,000   1,500,000,000      
Options, number of shares, period increase (decrease) 9,414,923                
Remaining vesting period, vesting percentage           2.08%      
Antidilutive securities (in shares)       24,668,000 25,227,000 24,668,000 25,227,000    
Share-based payment arrangement, number of purchase periods | period   4              
Share-based payment arrangement, offering period (in months)   24 months              
Total stock-based compensation expense | $       $ 47,991 $ 25,853 $ 135,834 $ 62,265    
Employee contributions withheld | $       2,800   2,800   $ 7,200  
Unrecognized expense | $       $ 367,669   $ 367,669      
Early exercised stock options                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Antidilutive securities (in shares)       55,000 286,000 55,351 286,068    
Stock options                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Options, expiration period           10 years      
Exercise price, minimum threshold, as a 100% of estimated fair value on the date of grant           100.00%      
Vesting period           4 years      
Stock options | Share-based Payment Arrangement, Tranche One                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Vesting percentage           25.00%      
Restricted stock units | Minimum                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Vesting period           2 years      
Restricted stock units | Maximum                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Vesting period           4 years      
Employee Stock                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Common stock, shares reserved for future issuance (in shares)   2,000,000              
Increase in authorized share amount (in shares) 5,497,785               3,614,801
Total stock-based compensation expense | $       $ 4,300 $ 1,600 $ 8,000 $ 6,000    
Unrecognized expense | $       $ 19,700   $ 19,700      
Unrecognized expense, period for recognition           1 year 2 months 12 days      
Common Class A                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Common stock, shares authorized (in shares)       1,000,000,000   1,000,000,000      
Number of votes per share | vote           1      
Conversion of stock, shares converted (in shares)           1      
Common stock, shares issued (in shares)       127,203,023   127,203,023      
Common stock, shares outstanding (in shares)       127,203,023   127,203,023      
Common Class A | Private Placement, Related Party                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Stock issued and sold (in shares)     19,273,127            
Shares issued, price per share (in USD per share) | $ / shares     $ 18.16            
Sale of stock, consideration received on transaction, gross | $     $ 350,000            
Sale of stock, consideration received on transaction | $           $ 347,300      
Payment of stock issuance costs | $     $ 2,700            
Common Class A | Employee Stock                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Share-based payment arrangement, offering period (in months)   6 months              
Purchase price of common stock, percent   85.00%              
Common Class B                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Common stock, shares authorized (in shares)       500,000,000   500,000,000      
Number of votes per share | vote           10      
Common stock, shares issued (in shares)       85,489,359   85,489,359      
Common stock, shares outstanding (in shares)       85,489,359   85,489,359      
v3.22.2.2
Stockholders' Deficit - Schedule of Option Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Oct. 31, 2022
Oct. 31, 2021
Jan. 31, 2022
Number of Shares          
Beginning balance (in shares)     14,383    
Options granted (in shares)     0    
Options exercised (in shares)     (1,599)    
Options canceled (in shares)     (379)    
Ending balance (in shares) 12,405   12,405   14,383
Vested and exercisable, end of period (in shares) 10,615   10,615    
Vested and expected to vest, end of period (in shares) 12,461   12,461    
Weighted- Average Exercise Price          
Beginning balance (in dollars per share)     $ 3.02    
Options granted (in dollars per share)     0    
Options exercised (in dollars per share)     2.89    
Options canceled (in dollars per share)     5.34    
Ending balance (in dollars per share) $ 2.96   2.96   $ 3.02
Vested and exercisable, end of period (in dollars per share) 2.69   2.69    
Vested and expected to vest, end of period (in dollars per share) $ 2.96   $ 2.96    
Weighted- Average Remaining Contractual Term (in years)     5 years 3 months 18 days   6 years 1 month 6 days
Weighted average remaining contractual term, vested and exercisable (in years)     5 years 1 month 6 days    
Weighted average remaining contractual term, vested and expected to vest (in years)     5 years 3 months 18 days    
Aggregate intrinsic value, outstanding $ 218,820   $ 218,820   $ 711,455
Aggregate intrinsic value, vested and exercisable 190,098   190,098    
Aggregate intrinsic value, vested and expected to vest 219,758   219,758    
Aggregate intrinsic value of options exercised (in thousands) $ 6,531 $ 137,980 $ 47,586 $ 303,122  
v3.22.2.2
Stockholders' Deficit - Schedule of RSU Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
9 Months Ended
Oct. 31, 2022
Jan. 31, 2022
Number of Shares    
RSUs vested, not released (in shares) 766  
Weighted- Average Grant Date Fair Value    
RSUs vested, not released (in dollars per share) $ 33.54  
Restricted stock units    
Number of Shares    
Beginning Balance (in shares) 8,812  
RSUs granted (in shares) 7,922  
RSUs vested, and released (in shares) (3,066)  
RSUs cancelled/forfeited (in shares) (1,620)  
Ending Balance (in shares) 12,048  
Weighted- Average Grant Date Fair Value    
Beginning Balance (in dollars per share) $ 47.07  
RSUs granted (in dollars per share) 21.20  
RSUs vested, and released (in dollars per share) 40.61  
RSUs cancelled/forfeited (in dollars per share) 36.80  
Ending Balance (in dollars per share) $ 33.09  
Aggregate Intrinsic Value $ 248,148 $ 462,426
v3.22.2.2
Stockholders' Deficit - Stock-based Compensation Expense (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Oct. 31, 2022
Oct. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense $ 47,991 $ 25,853 $ 135,834 $ 62,265
Unrecognized expense, stock options 5,037   5,037  
Unrecognized expense, RSUs 362,632   362,632  
Total unrecognized stock-based compensation expense 367,669   $ 367,669  
Weighted-Average Expected Recognition Period (in years)     2 years 9 months 18 days  
Stock options        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Weighted-Average Expected Recognition Period (in years)     1 year 4 months 24 days  
Restricted stock units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Weighted-Average Expected Recognition Period (in years)     2 years 10 months 24 days  
Cost of revenues        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense 461 192 $ 1,200 462
Research and development        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense 25,030 14,351 70,606 34,741
Sales and marketing        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense 15,018 7,138 43,028 16,641
General and administrative        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense $ 7,482 $ 4,172 $ 21,000 $ 10,421
v3.22.2.2
Interest Income and Other Income (Expense), Net (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Oct. 31, 2022
Oct. 31, 2021
Other Income and Expenses [Abstract]        
Interest income $ 2,264 $ 187 $ 3,007 $ 363
Unrealized gains (losses) on foreign currency transactions (211) (629) (602) (632)
Other non-operating expense (762) (4) (2,624) (497)
Interest income and other income (expense), net $ 1,291 $ (446) $ (219) $ (766)
v3.22.2.2
Income Taxes (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Oct. 31, 2022
Oct. 31, 2021
Income Tax Disclosure [Abstract]        
Income tax expense $ 631 $ 393 $ 2,786 $ 1,328
v3.22.2.2
Geographic Information (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 31, 2022
Oct. 31, 2021
Oct. 31, 2022
Oct. 31, 2021
Jan. 31, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]          
Revenues $ 141,439 $ 100,337 $ 396,981 $ 266,488  
Long-lived assets 274,271   274,271   $ 273,715
United States          
Segment Reporting, Revenue Reconciling Item [Line Items]          
Revenues 85,976 58,622 238,600 153,832  
Long-lived assets 268,095   268,095   267,007
International          
Segment Reporting, Revenue Reconciling Item [Line Items]          
Revenues 55,463 $ 41,715 158,381 $ 112,656  
Long-lived assets $ 6,176   $ 6,176   $ 6,708
v3.22.2.2
Related Party Transactions (Details) - USD ($)
$ / shares in Units, $ in Millions
1 Months Ended 3 Months Ended 9 Months Ended
Sep. 30, 2022
Oct. 31, 2022
Oct. 31, 2021
Oct. 31, 2022
Oct. 31, 2021
Common Class A | Private Placement, Related Party          
Related Party Transaction [Line Items]          
Stock issued and sold (in shares) 19,273,127        
Sale of stock, consideration received on transaction, gross $ 350.0        
Shares issued, price per share (in USD per share) $ 18.16        
Affiliated Entity | Lease Expense          
Related Party Transaction [Line Items]          
Amount of related party transactions   $ 0.5 $ 0.5 $ 1.4 $ 1.6
Affiliated Entity | Advertising Expense One          
Related Party Transaction [Line Items]          
Amount of related party transactions   0.5 $ 0.2 1.5 $ 0.7
Affiliated Entity | Advertising Agreement Two          
Related Party Transaction [Line Items]          
Amount of related party transactions   $ 0.7   $ 2.5  
v3.22.2.2
Subsequent Events (Details) - Subsequent Event - USD ($)
Nov. 15, 2022
Nov. 07, 2022
Subsequent Event [Line Items]    
Restructuring and related cost, number of positions eliminated, period percent 9.00%  
Minimum | Reduction in Force    
Subsequent Event [Line Items]    
Restructuring and related cost, expected cost $ 9,000,000  
Effect on future cash flows, amount 8,000,000  
Maximum | Reduction in Force    
Subsequent Event [Line Items]    
Restructuring and related cost, expected cost 11,000,000  
Effect on future cash flows, amount $ 10,000,000  
Credit Agreement | Minimum    
Subsequent Event [Line Items]    
Debt instrument, covenant, consolidated adjusted quick ratio   1.00
Credit Agreement | Maximum    
Subsequent Event [Line Items]    
Debt instrument, covenant, consolidated adjusted quick ratio   1.25
Credit Agreement | Line of Credit    
Subsequent Event [Line Items]    
Line of credit, maximum borrowing facility   $ 150,000,000
Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR)    
Subsequent Event [Line Items]    
Convertible notes, interest rate, stated percentage   2.25%
Letter of Credit | Credit Agreement | Line of Credit    
Subsequent Event [Line Items]    
Line of credit, maximum borrowing facility   $ 30,000,000
Revolving Credit Facility | Credit Agreement | Line of Credit    
Subsequent Event [Line Items]    
Line of credit, maximum borrowing facility   100,000,000
Term Loan Facility | Credit Agreement | Line of Credit    
Subsequent Event [Line Items]    
Long-term debt, face amount   $ 50,000,000
Term Loan Facility | Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR)    
Subsequent Event [Line Items]    
Debt instrument, basis spread on variable rate   0.00%
Term Loan Facility | Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR) | Period One    
Subsequent Event [Line Items]    
Debt instrument, basis spread on variable rate   0.10%
Term Loan Facility | Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR) | Period Two    
Subsequent Event [Line Items]    
Debt instrument, basis spread on variable rate   0.10%
Term Loan Facility | Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR) | Period Three    
Subsequent Event [Line Items]    
Debt instrument, basis spread on variable rate   0.10%
ABR Loans | Credit Agreement | Line of Credit    
Subsequent Event [Line Items]    
Convertible notes, interest rate, stated percentage   1.25%
Debt instrument, basis spread on variable rate   0.00%
ABR Loans | Credit Agreement | Line of Credit | Fed Funds Effective Rate Overnight Index Swap Rate    
Subsequent Event [Line Items]    
Debt instrument, basis spread on variable rate   0.50%
ABR Loans | Credit Agreement | Line of Credit | Secured Overnight Financing Rate (SOFR)    
Subsequent Event [Line Items]    
Debt instrument, basis spread on variable rate   1.00%