0001585521-20-000154 | 10-Q | XBRL Viewer | Zoom Video Communications INC

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Cover - shares	3 Months Ended
Cover - shares	Apr. 30, 2020	May 22, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Amendment Flag	false
Document Period End Date	Apr. 30, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity File Number	001-38865
Entity Registrant Name	Zoom Video Communications, Inc.
Entity Central Index Key	0001585521
Current Fiscal Year End Date	--01-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Tax Identification Number	61-1648780
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	55 Almaden Boulevard, 6th Floor
Entity Address, State or Province	CA
Entity Address, City or Town	San Jose
Entity Address, Postal Zip Code	95113
City Area Code	888
Local Phone Number	799-9666
Trading Symbol	ZM
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Title of 12(b) Security	Class A Common Stock, $0.001 par value per share
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		182,105,837
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		99,997,149

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Current assets:
Cash and cash equivalents	$ 488,653	$ 283,134
Marketable securities	616,714	572,060
Accounts receivable, net of allowances of $11,990 and $7,634 as of April 30, 2020 and January 31, 2020, respectively	257,512	120,435
Deferred contract acquisition costs, current	84,054	44,885
Prepaid expenses and other current assets	336,024	75,008
Total current assets	1,782,957	1,095,522
Deferred contract acquisition costs, noncurrent	115,643	46,245
Property and equipment, net	60,479	57,138
Operating lease right-of-use assets	65,316	68,608
Other assets, noncurrent	43,314	22,332
Total assets	2,067,709	1,289,845
Current liabilities:
Accounts payable	3,472	1,596
Accrued expenses and other current liabilities	507,010	122,692
Deferred revenue, current	523,246	209,542
Total current liabilities	1,033,728	333,830
Deferred revenue, noncurrent	28,596	20,994
Operating lease liabilities, noncurrent	62,989	64,792
Other liabilities, noncurrent	40,765	36,286
Total liabilities	1,166,078	455,902
Commitments and contingencies (Note 6)
Stockholders’ equity:
Preferred stock	0	0
Common stock, $0.001 par value per share, 2,000,000,000 Class A shares authorized as of April 30, 2020 and January 31, 2020; 167,647,512 and 123,391,114 shares issued and outstanding as of April 30, 2020 and January 31, 2020, respectively; 300,000,000 Class B shares authorized as of April 30, 2020 and January 31, 2020; 114,344,499 and 155,336,747 shares issued and outstanding as of April 30, 2020 and January 31, 2020, respectively	280	277
Additional paid-in capital	872,237	832,705
Accumulated other comprehensive income	1,887	809
Retained earnings	27,227	152
Total stockholders’ equity	901,631	833,943
Total liabilities and stockholders’ equity	$ 2,067,709	$ 1,289,845

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Accounts receivable, allowances	$ 11,990	$ 7,634
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	200,000,000	200,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Class A Common Stock
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	167,647,512	123,391,114
Common stock, shares outstanding (in shares)	167,647,512	123,391,114
Class B Common Stock
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	114,344,499	155,336,747
Common stock, shares outstanding (in shares)	114,344,499	155,336,747

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Income Statement [Abstract]
Revenue	$ 328,167	$ 121,988
Cost of revenue	103,707	24,104
Gross profit	224,460	97,884
Operating expenses:
Research and development	26,389	13,783
Sales and marketing	121,556	64,041
General and administrative	53,130	18,503
Total operating expenses	201,075	96,327
Income from operations	23,385	1,557
Interest income and other, net	5,790	973
Net income before provision for income taxes	29,175	2,530
Provision for income taxes	2,100	316
Net income	27,075	2,214
Undistributed earnings attributable to participating securities	(39)	(2,016)
Net income attributable to common stockholders	$ 27,036	$ 198
Net income per share attributable to common stockholders:
Basic (in dollars per share)	$ 0.10	$ 0.00
Diluted (in dollars per share)	$ 0.09	$ 0.00
Weighted-average shares used in computing net income per share attributable to common stockholders:
Basic (in shares)	279,891,111	109,708,898
Diluted (in shares)	295,184,958	136,428,379

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 27,075	$ 2,214
Other comprehensive income:
Unrealized gain on available-for-sale marketable securities, net of tax	1,078	143
Comprehensive income	$ 28,153	$ 2,357

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance (in shares) at Jan. 31, 2019		152,665,804	90,327,435
Beginning balance at Jan. 31, 2019	$ (7,439)	$ 159,552	$ 89	$ 17,760	$ (135)	$ (25,153)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Conversion of convertible preferred stock to common stock upon initial public offering (in shares)		(152,665,804)	152,665,804
Conversion of convertible preferred stock to common stock upon initial public offering	159,552	$ (159,552)	$ 153	159,399
Conversion of convertible promissory notes and accrued interest to common stock upon initial public offering (in shares)			426,223
Conversion of convertible promissory notes and accrued interest to common stock upon initial public offering	15,344			15,344
Issuance of common stock upon initial public offering and private placement net of underwriting discounts and commissions and other offering costs (in shares)			15,819,646
Issuance of common stock upon initial public offering and private placement, net of underwriting discounts and commissions and other offering costs	541,499		$ 16	541,483
Issuance of common stock upon exercise of stock options, net of repurchases (in shares)			13,097,754
Issuance of common stock upon exercise of stock options, net of repurchases	1,753		$ 13	1,740
Stock-based compensation expense	6,662			6,662
Other comprehensive income	143				143
Net income (loss)	2,214					2,214
Ending balance (in shares) at Apr. 30, 2019		0	272,336,862
Ending balance at Apr. 30, 2019	719,728	$ 0	$ 271	742,388	8	(22,939)
Beginning balance (in shares) at Jan. 31, 2020		0	278,731,143
Beginning balance at Jan. 31, 2020	$ 833,943	$ 0	$ 277	832,705	809	152
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)	3,232,991		3,232,991
Issuance of common stock upon exercise of stock options	$ 9,725		$ 3	9,722
Issuance of restricted shares of common stock, net (in shares)			27,877
Issuance of restricted shares of common stock	0
Charitable donation of common stock	1,000			1,000
Stock-based compensation expense	28,810			28,810
Other comprehensive income	1,078				1,078
Net income (loss)	27,075					27,075
Ending balance (in shares) at Apr. 30, 2020		0	281,992,011
Ending balance at Apr. 30, 2020	$ 901,631	$ 0	$ 280	$ 872,237	$ 1,887	$ 27,227

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ 27,075	$ 2,214
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense	28,777	6,662
Amortization of deferred contract acquisition costs	16,287	7,419
Depreciation and amortization	5,339	3,324
Provision for accounts receivable allowances	3,868	828
Non-cash operating lease cost	2,248	1,533
Charitable donation of common stock	1,000	0
Remeasurement gain on equity investment	2,538	0
Other	1,117	257
Changes in operating assets and liabilities:
Accounts receivable	(142,501)	(16,103)
Prepaid expenses and other assets	(49,080)	(8,617)
Deferred contract acquisition costs	(124,854)	(14,434)
Accounts payable	1,756	4,373
Accrued expenses and other liabilities	167,322	12,223
Deferred revenue	322,862	23,557
Operating lease liabilities, net	287	(1,000)
Net cash provided by operating activities	258,965	22,236
Cash flows from investing activities:
Purchases of marketable securities	(207,546)	(23,312)
Maturities of marketable securities	137,014	28,890
Sales of marketable securities	26,613	0
Purchases of property and equipment	(7,272)	(6,897)
Purchase of equity investment	(8,000)	0
Purchase of convertible promissory note	(5,000)	0
Collections of employee loans	1,319	0
Purchase of intangible assets	(162)	0
Net cash used in investing activities	(63,034)	(1,319)
Cash flows from financing activities:
Proceeds from international employee stock sales to be remitted to employees and tax authorities, net	218,540	0
Proceeds from exercise of stock options, net of repurchases	9,586	1,781
Proceeds from initial public offering and private placement, net of underwriting discounts and commissions and other offering costs	0	543,471
Net cash provided by financing activities	228,126	545,252
Net increase in cash, cash equivalents, and restricted cash	424,057	566,169
Cash, cash equivalents, and restricted cash – beginning of period	334,082	65,968
Cash, cash equivalents, and restricted cash – end of period	758,139	632,137
Reconciliation of cash, cash equivalents, and restricted cash within the condensed consolidated balance sheets to the amounts shown in the condensed consolidated statements of cash flows above:
Cash and cash equivalents	488,653	629,793
Total cash, cash equivalents, and restricted cash	$ 758,139	$ 632,137

Summary of Business and Significant Accounting Policies

3 Months Ended

Apr. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Business and Significant Accounting Policies

Description of Business

Zoom Video Communications, Inc. and its subsidiaries (together, “Zoom,” the “Company,” “we,” “us,” or “our”) provide a video-first, unified communications platform. Our platform combines video, audio, phone, screen sharing, and chat functionalities. We were incorporated in the state of Delaware in April 2011 and are headquartered in San Jose, California.

Fiscal Year

Our fiscal year ends on January 31. References to fiscal year 2021, for example, refer to the fiscal year ending January 31, 2021.

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and applicable regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting, and include the accounts of Zoom Video Communications, Inc., its subsidiaries, and a variable interest entity (“VIE”) for which we are the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation.

The condensed consolidated balance sheet as of January 31, 2020 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. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of operations, statements of comprehensive income, statements of convertible preferred stock 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.

The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended January 31, 2020, filed with the SEC on March 20, 2020.

Use of Estimates

The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include, but are not limited to, the estimated expected benefit period for deferred contract acquisition costs, the allowance for credit losses, the useful lives of long-lived assets, the incremental borrowing rate for operating leases, the value of common stock and other assumptions used to measure stock-based compensation expense, sales and other tax liabilities, the fair value of the convertible promissory note, and the valuation of deferred income tax assets and uncertain tax positions. Actual results could differ from those estimates.

The novel coronavirus (“COVID-19”) pandemic has created, and may continue to create, significant uncertainty in macroeconomic conditions, and the extent of its impact on our operational and financial performance will depend on certain developments, including the duration and spread of the outbreak and the impact on our customers and our sales cycles. During the three months ended April 30, 2020, many of our estimates and assumptions required increased judgment and carried a higher degree of variability and volatility. As events continue to evolve and additional information becomes available, our estimates may change materially in future periods.

Summary of Significant Accounting Policies

Our significant accounting policies are discussed in Note 1. “Summary of Business and Significant Accounting Policies” in the notes to consolidated financial statements included in our Annual Report on Form 10-K for the year ended January 31, 2020, filed with the SEC on March 20, 2020. There have been no significant changes to these policies during the three months ended April 30, 2020, except as noted below.

Restricted Cash

Restricted cash consisted of certificates of deposit collateralizing our operating leases, corporate credit cards, and cash from proceeds on international employees’ sales of our common stock, and is included in prepaid expenses and other current assets and other assets, noncurrent in the condensed consolidated balance sheets.

As of April 30, 2020 and January 31, 2020, we had $267.1 million and $48.5 million, respectively, of cash from proceeds on international employees’ sales of our common stock. The amount is held in our bank account until it is remitted to the employees and the tax authorities. Due to the restrictions on the use of the funds in the bank account, we have classified the amount as restricted cash included in prepaid expenses and other current assets, and a corresponding amount included in accrued expenses and other current liabilities in the condensed consolidated balance sheets.

Allowance for Credit Losses

We are exposed to credit losses primarily through our accounts receivable and investments in available-for-sale debt securities. See Note 3 for additional information related to our available-for-sale debt securities.

Accounts receivable, net

Accounts receivable are recorded for invoiced amounts and amounts for which revenue has been recognized, but not invoiced, net of allowances. Our short-term accounts receivable consist of the following:



	April 30, 2020

	(in thousands)
Accounts receivable, gross	$	269,502
Less: allowance for credit losses	(8,300)
Less: allowance for returns	(3,690)
Accounts receivable, net	$	257,512

We maintain an allowance for credit losses for expected uncollectible accounts receivable, which is recorded as an offset to accounts receivable, and changes in such are classified as general and administrative expense in the condensed consolidated statements of operations. The allowance for credit losses is based on management’s estimate for expected credit losses for outstanding accounts receivable. We determine expected credit losses based on historical write-off experience, an analysis of the aging of outstanding receivables, customer payment patterns, the establishment of specific reserves for customers in an adverse financial condition, and adjusted based upon our expectations of changes in macro-economic conditions that may impact the collectability of outstanding receivables, including noncurrent accounts receivable. We also consider current market conditions and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss data. We reassess the adequacy of the allowance for credit losses each reporting period.

For the three months ended April 30, 2020, our assessment considered business and market disruptions caused by COVID-19 and estimates of credit and collectibility trends. The continued volatility in market conditions and evolving shifts in credit trends are difficult to predict, causing variability and volatility that may have a material impact on our allowance for credit losses in future periods. Below is a rollforward of our allowance for credit losses for the three months ended April 30, 2020:




	(in thousands)
Balance as of January 31, 2020	$	5,150
Provision for credit losses	3,771
Write-offs	(621)
Balance as of April 30, 2020	$	8,300

Available-for-sale Investments

Available-for-sale investments consist primarily of high-grade commercial paper, agency bonds, corporate bonds, corporate and other debt securities, U.S. government agency securities, and treasury bills. We classify our marketable securities as available-for-sale at the time of purchase and reevaluate such classification at each balance sheet date. We may sell these securities at any time for use in current operations even if they have not yet reached maturity. As a result, we classify our securities, including those with maturities beyond 12 months, as current assets in the condensed consolidated balance sheets. We carry these securities at fair value and record unrealized gains and losses in accumulated other comprehensive income, which is reflected as a component of stockholders’ equity. We evaluate our securities with unrealized loss positions as to whether the declines in fair value were due to credit losses, and record the portion of impairment relating to the credit losses

through allowance for credit losses limited to the amount that fair value was less than the amortized cost basis. Realized gains and losses from the sale of marketable securities are determined based on the specific identification method. Realized gains and losses are reported in interest income and other, net in the condensed consolidated statements of operations.

Cloud Computing Arrangement Implementation Costs

We capitalize certain implementation costs incurred in a cloud computing arrangement during the application development stage. Costs incurred in the preliminary stages of development are analogous to research and development activities and are expensed as incurred. The preliminary stage includes activities such as formulation and evaluation of alternatives, determination of existence of needed technology, and final selection of alternatives. Once the application development stage is reached, internal and external costs are capitalized until the hosted software is ready for its intended use. Capitalized implementation costs are recorded as deferred costs, and are included in prepaid expenses and other current assets and other assets, noncurrent in the condensed consolidated balance sheets. Maintenance, minor upgrades, and training costs are expensed as incurred. Capitalized implementation costs are amortized over the term of the hosting arrangement on a straight-line basis, and are recorded under operating expenses in the same line item in the condensed consolidated statements of operations as the expense for fees for the associated hosting arrangement. The capitalized implementation costs were not material during the three months ended April 30, 2020.

Equity Investment

In the third quarter of fiscal year 2020, we made a $3.0 million strategic investment in a private company in the business of designing and developing video communications hardware. In the first quarter of fiscal year 2021, we made an additional $8.0 million strategic investment in this company.

We do not have a controlling financial interest in the investee nor the ability to exercise significant influence over the operating and financial policies of the investee. The investment is included within other assets, noncurrent in the condensed consolidated balance sheets. Dividend income, unrealized and realized holding gains or losses, and impairment charges would be reported in interest income and other, net in the condensed consolidated statements of operations. The maximum loss we could incur for this investment is its carrying value.

We have elected to measure this investment, which does not have a readily determinable fair value, at its cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer (i.e., using the measurement alternative). At each reporting period, we perform a qualitative assessment considering impairment indicators to evaluate whether the investment is impaired. If this qualitative assessment indicates that the investment is impaired and the fair value of the investment is less than its carrying amount, the investment would be written down to its fair value.

In connection with the additional investment and the indicated change in the observable price of the underlying shares of the investee as a result of orderly transactions, we have recognized a remeasurement gain of $2.5 million on the initial investment. As of April 30, 2020, the carrying amount of this investment was $13.5 million.

Convertible Promissory Note

In the first quarter of fiscal year 2021, we invested $5.0 million in a five-year convertible promissory note of a privately held company (the “Convertible Note”), which bears interest at 3.0% on the unpaid principal balance, compounded annually. We may elect to convert the Convertible Note into shares of the privately held company’s stock prior to, or on, the maturity date of the Convertible Note. Upon a liquidity event, the Convertible Note will be automatically converted into shares of the privately held company’s stock.

The Convertible Note is included in other assets, noncurrent in the condensed consolidated balance sheets. Interest accrues on the unpaid principal balance on a quarterly basis, and is recognized in interest income and other, net in the condensed consolidated statements of operations. Interest income related to the Convertible Note was immaterial for the three months ended April 30, 2020. We have elected to measure the Convertible Note at fair value (i.e., using the fair value option). Under the fair value option, bifurcation of an embedded derivative is not necessary, and all related gains and losses on the host contract and derivative due to change in the fair value will be reflected in interest income and other, net in the condensed consolidated statements of operations. As of April 30, 2020, the fair value of the Convertible Note investment was measured at $5.0 million.

Recently Adopted Accounting Pronouncements

In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which was subsequently amended by ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit

Losses, in November 2018. Subsequently, the FASB issued ASU No. 2019-04, ASU No. 2019-05, ASU No. 2019-10, and ASU No. 2019-11 to provide additional guidance on the credit losses standard. ASU No. 2016-13 and the related updates replace the existing incurred loss impairment model with an expected credit loss model and requires a financial asset measured at amortized cost to be presented at the net amount expected to be collected. The guidance is effective for the annual periods in fiscal years beginning after December 15, 2019, and interim periods therein. We adopted the standard as of February 1, 2020, using the modified retrospective method of applying the new standard at the adoption date. Our adoption did not result in any cumulative effect adjustment on our condensed consolidated financial statements upon adoption as of February 1, 2020.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-use Software (subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. The amendment aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The guidance is effective for the annual periods in fiscal years beginning after December 15, 2019, and interim periods therein. We adopted ASU No. 2018-15, prospectively, as of February 1, 2020, and our adoption did not have a material impact on the condensed consolidated financial statements.

Revenue Recognition

3 Months Ended

Apr. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Disaggregation of Revenue

The following table summarizes revenue by region based on the billing address of customers:


	Three Months Ended April 30,
	2020						2019
	Amount		Percentage of Revenue		Amount		Percentage of Revenue

	(in thousands, except percentages)
Americas	$	245,633	75	%	$	98,160	80	%
Asia Pacific (“APAC”)	31,278		9		10,441		9
Europe, Middle East, and Africa (“EMEA”)	51,256		16		13,387		11
Total	$	328,167	100	%	$	121,988	100	%

Contract Balances

We receive payments from customers based on a billing schedule as established in our customer contracts. Accounts receivable are recorded when we contractually have the right to consideration. In some arrangements, a right to consideration for our performance under the customer contract may occur before invoicing to the customer, resulting in an unbilled accounts receivable. The amount of unbilled accounts receivable included within accounts receivable, net of allowances in the condensed consolidated balance sheets was $19.6 million and $12.5 million as of April 30, 2020 and January 31, 2020, respectively.

Contract liabilities consist of deferred revenue. Revenue is deferred when we have the right to invoice in advance of performance under a customer contract. The current portion of deferred revenue balances is recognized over the next 12 months. The amount of revenue recognized during the three months ended April 30, 2020 and 2019 that was included in deferred revenue at the beginning of each period was $98.0 million and $53.6 million, respectively.

Remaining Performance Obligation

The terms of our subscription agreements are monthly, annual, and multiyear, and we may bill for the full term in advance or on an annual or monthly basis, depending on the billing terms with customers. As of April 30, 2020, the aggregate amount of the transaction price allocated to our remaining performance obligations was $1.1 billion, which consists of both billed consideration in the amount of $551.8 million and unbilled consideration in the amount of $516.1 million that we expect to recognize as revenue. We expect to recognize 72% of our remaining performance obligations as revenue over the next 12 months and the remainder thereafter.

Marketable Securities

3 Months Ended

Apr. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

As of April 30, 2020 and January 31, 2020, our marketable securities consisted of the following:


	April 30, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

	(in thousands)





Commercial paper	$	11,892	$	—	$	—	$	11,892
Agency bonds	157,493		285		(56)		157,722
Corporate and other debt securities	392,575		1,780		(344)		394,011
U.S. government agency securities	49,871		218		—		50,089
Treasury bills	2,996		4		—		3,000
Marketable securities	$	614,827	$	2,287	$	(400)	$	616,714


	January 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

	(in thousands)


Commercial paper	$	37,894	$	—	$	—	$	37,894
Agency bonds	141,157		49		(43)		141,163
Corporate and other debt securities	320,407		775		(16)		321,166
U.S. government agency securities	71,794		45		(2)		71,837

Marketable securities	$	571,252	$	869	$	(61)	$	572,060

We review the individual securities that have unrealized losses on a regular basis to evaluate whether or not any security has experienced and expect to experience credit losses which resulted in the decline in fair value. We evaluate, among other factors, whether we have the intention to sell any of these marketable securities and whether it is more likely than not that we will be required to sell any of them before recovery of the amortized cost basis. We have not recorded an allowance for credit losses, as we believe any such losses would be immaterial based on the high-grade credit rating for each of our marketable securities as of the end of each period. There were no material realized gains or losses from available-for-sale securities that were reclassified out of accumulated other comprehensive income for the three months ended April 30, 2020 and 2019.

The following table presents the contractual maturities of our marketable securities as of April 30, 2020 and January 31, 2020:


	As of
	April 30, 2020		January 31, 2020

	(in thousands)
Less than one year	$	326,287	$	315,900
Due in one to five years	290,427		256,160
Total	$	616,714	$	572,060

Fair Value Measurements

3 Months Ended

Apr. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

The following table presents information about our financial instruments that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value:


	April 30, 2020
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	220,739	$	220,739	$	—	$	—



Cash equivalents	220,739		220,739		—		—
Commercial paper	11,892		—		11,892		—
Agency bonds	157,722		—		157,722		—
Corporate and other debt securities	394,011		—		394,011		—
U.S. government agency securities	50,089		—		50,089		—
Treasury bills	3,000		—		3,000		—
Marketable securities	616,714		—		616,714		—
Certificate of deposit included in prepaid expenses and other current assets	100		—		100		—

Certificates of deposit included in other assets, noncurrent	2,296		—		2,296		—

Convertible Note included in other assets, noncurrent	5,000		—		—		5,000
Total financial assets	$	844,849	$	220,739	$	619,110	$	5,000


	January 31, 2020
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	96,486	$	96,486	$	—	$	—
Commercial paper	4,994		—		4,994		—
Agency bonds	9,999		—		9,999		—
Cash equivalents	111,479		96,486		14,993		—
Commercial paper	37,894		—		37,894		—
Agency bonds	141,163		—		141,163		—
Corporate and other debt securities	321,166		—		321,166		—
U.S. government agency securities	71,837		—		71,837		—

Marketable securities	572,060		—		572,060		—
Certificate of deposit included in prepaid expenses and other current assets	100		—		100		—

Certificates of deposit included in other assets, noncurrent	2,301		—		2,301		—

Total financial assets	$	685,940	$	96,486	$	589,454	$	—

We classify our highly liquid money market funds within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. We classify our commercial paper, agency bonds, corporate bonds, corporate and other debt securities, U.S. government agency securities, treasury bills, and certificates of deposit within Level 2 because they are valued using inputs other than quoted prices that are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security which may not be actively traded. We classify the Convertible Note as Level 3 due to the lack of relevant observable market data over fair value inputs, such as the probability weighting of the various scenarios that can impact settlement of the arrangement.

As of April 30, 2020 and January 31, 2020, the carrying amount of the equity investment was $13.5 million and $3.0 million, respectively. We classify the equity investment as Level 3 within the fair value hierarchy only if an impairment or

observable adjustment is recognized during the period, as it is based on an observable transaction price at the transaction date and other unobservable inputs, such as volatility.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Balance Sheet Components

3 Months Ended

Apr. 30, 2020

Balance Sheet Components [Abstract]

Balance Sheet Components

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


	As of
	April 30, 2020		January 31, 2020

	(in thousands)
Restricted cash from international employee stock sales	$	267,091	$	48,547
Prepaid expenses	64,306		22,320
Other	4,627		4,141
Prepaid expenses and other current assets	$	336,024	$	75,008

Property and Equipment, Net

Property and equipment consisted of the following:


	As of
	April 30, 2020		January 31, 2020

	(in thousands)
Computer and office equipment	$	56,655	$	51,375
Leasehold improvements	18,134		18,215
Software	14,125		10,855
Furniture and fixtures	3,972		3,949
Property and equipment, gross	92,886		84,394
Less: accumulated depreciation and amortization	(32,407)		(27,256)
Property and equipment, net	$	60,479	$	57,138

Depreciation and amortization expense was $5.3 million and $3.3 million for the three months ended April 30, 2020 and 2019, respectively.

Other Assets, Noncurrent

Other assets, noncurrent consisted of the following:


	As of
	April 30, 2020		January 31, 2020

	(in thousands)
Equity investment	$	13,538	$	3,000
Accounts receivable, noncurrent	12,980		9,011
Convertible Note	5,000		—



Other	11,796		10,321
Other assets, noncurrent	$	43,314	$	22,332

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	As of
	April 30, 2020		January 31, 2020

	(in thousands)
Liabilities to employees and tax authorities from international employee stock sales	$	267,917	$	49,287

Accrued compensation and benefits	118,632		36,732
Accrued expenses	80,924		17,475
Sales and other tax liabilities	16,777		3,774
Operating lease liabilities, current	8,722		7,675


Other	14,038		7,749
Accrued expenses and other current liabilities	$	507,010	$	122,692

Other Liabilities, Noncurrent

Other liabilities, noncurrent consisted of the following:


	As of
	April 30, 2020		January 31, 2020

	(in thousands)
Sales and other tax liabilities	$	38,345	$	33,957



Other	2,420		2,329
Other liabilities, noncurrent	$	40,765	$	36,286

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Apr. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Non-cancelable Purchase Obligations As of April 30, 2020, we had additional outstanding non-cancelable purchase obligations with a term of 12 months or longer of $18.0 million, related to third-party cloud hosting to meet the significant increase in usage of our services. Operating Leases Not Yet Commenced As of April 30, 2020, we had additional operating leases for office space that have not yet commenced with undiscounted future lease payments of $8.9 million. These operating leases will commence in the fourth quarter of fiscal year 2021. License Agreement In May 2020, we entered into a license agreement with MPEG LA, LLC (“MPEGLA”) to obtain the rights for future use of licensed intellectual property in exchange for periodic royalty payments. In connection with the license agreement, we agreed to make a royalty payment of $9.8 million to use the technology until December 31, 2020. In addition, we also agreed to make a one-time payment of $9.8 million for past use, which was recorded in general and administrative expenses in our condensed consolidated statements of operations for the three months ended April 30, 2020. Legal Proceedings Beginning on March 30, 2020, multiple putative class actions were filed against us in various U.S. federal district courts and in one state court relating to our alleged privacy and security practices, including alleged data sharing with third parties (the “U.S. Privacy Class Actions”). The plaintiffs claim violations of a variety of state consumer protection and privacy laws, and also assert state constitutional and common law claims, such as negligence and unjust enrichment. They seek to certify both nationwide and state-specific classes of individuals using our services in certain time periods. The plaintiffs seek various forms of injunctive and monetary relief, including restitution, statutory and actual damages, and attorneys’ fees. The federal cases have been transferred to the Northern District of California and have nearly completed the process of being related there for consolidated litigation, with our consent. On April 7, 2020 and April 8, 2020, securities class action complaints were filed against us and two of our officers in the United States District Court for the Northern District of California. The plaintiffs are purported stockholders of the company. The complaints allege, among other things, that we violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 by making false and misleading statements and omissions of material fact about our data privacy and security measures. The complaints seek unspecified damages, interest, fees, and costs. We believe these lawsuits are without merit, and we are vigorously defending ourselves against them. Given the uncertainty of litigation, the preliminary stage of the cases, and the legal standards that must be met for, among other things, class certification and success on the merits, we cannot estimate the reasonably possible loss or range of loss that may result from these actions.

Stockholders’ Equity (Deficit) and Equity Incentive Plan

3 Months Ended

Apr. 30, 2020

Stockholders' Equity Note [Abstract]

Stockholders’ Equity and Equity Incentive Plan

Common Stock

In connection with our initial public offering (“IPO”) in April 2019, our amended and restated certificate of incorporation became effective, which authorized the issuance of 2,000,000,000 shares of Class A common stock, $0.001 par value per share and 300,000,000 shares of Class B common stock, $0.001 par value per share. Class A and Class B common stock are referred to as common stock throughout the notes to the condensed consolidated financial statements, unless otherwise noted.

Equity Incentive Plans

In 2011, we adopted the 2011 Global Share Plan (“2011 Plan”), under which officers, employees, and consultants may be granted various forms of equity incentive compensation at the discretion of the board of directors, including stock options and restricted stock awards. In connection with the IPO, the shares of Class B common stock remaining available for issuance under the 2011 Plan became available for issuance for a corresponding number of shares of our Class A common stock under the 2019 Equity Incentive Plan (“2019 Plan”).

In April 2019, we adopted the 2019 Plan, which is a successor to and continuation of our 2011 Plan and which became effective in connection with our IPO. Our 2019 Plan provides for the grant of stock options, stock appreciation rights, restricted stock awards, restricted stock unit (“RSU”) awards, performance awards, and other forms of awards. The maximum number of shares of our Class A common stock that may be issued under our 2019 Plan will not exceed 58,300,889 shares of our Class A common stock, which is the sum of (1) 34,000,000 new shares, plus (2) an additional number of shares not to exceed 24,300,889, consisting of (A) shares that remain available for the issuance of awards under our 2011 Plan as of immediately prior to the time our 2019 Plan became effective and (B) shares of Class B common stock subject to outstanding stock options or other stock awards granted under our 2011 Plan that, on or after the 2019 Plan becomes effective, terminate, or expire prior to exercise or settlement; are not issued because the award is settled in cash; are forfeited because of the failure to vest; or are reacquired or withheld (or not issued) to satisfy a tax withholding obligation or the purchase or exercise price, if any, as such shares become available from time to time. In addition, the number of shares of our Class A common stock reserved for issuance under our 2019 Plan will automatically increase on February 1 of each calendar year, starting on February 1, 2020 through February 1, 2029, in an amount equal to (i) 5% of the total number of shares of our common stock (both Class A and Class B) outstanding on January 31 of the fiscal year before the date of each automatic increase, or (ii) a lesser number of shares determined by our board of directors prior to the applicable February 1.

Stock Options

A summary of stock option activity under our equity incentive plan and related information is as follows:


	Stock Options
	Outstanding Stock Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value

	(in thousands, except share, life, and per share data)
Balance as of January 31, 2020	16,833,009	$	5.73	7.6	$	1,191,881
Granted	—	$	—
Exercised	(3,232,991)	$	2.97
Canceled/forfeited/expired	(52,093)	$	4.63
Balance as of April 30, 2020	13,547,925	$	6.39	7.6	$	1,744,720
Vested and exercisable as of April 30, 2020	5,449,596	$	2.70	7.0	$	721,922

As of April 30, 2020, unrecognized stock-based compensation expense related to outstanding unvested stock options was $69.0 million, which is expected to be recognized over a weighted-average period of 2.6 years.

Restricted Stock Units

A summary of RSU activity under our equity incentive plan and related information is as follows:


	RSUs
	Unvested RSUs	Weighted- Average Grant Date Fair Value Per Share
Unvested as of January 31, 2020	1,964,668	$	79.11
Granted	419,354	$	119.62

Vested	(37,518)	$	80.36
Canceled/forfeited	(33,653)	$	80.78
Unvested as of April 30, 2020	2,312,851	$	86.42

As of April 30, 2020, unrecognized stock-based compensation expense related to outstanding unvested RSUs was $179.4 million, which is expected to be recognized over a weighted-average period of 3.5 years.

2019 Employee Stock Purchase Plan

In April 2019, we adopted the 2019 Employee Stock Purchase Plan (“ESPP”), which became effective in connection with the IPO. A total of 9,000,000 shares of our Class A common stock were initially reserved for issuance under the ESPP. The number of shares of our Class A common stock reserved for issuance will automatically increase on February 1 of each calendar year, beginning on February 1, 2020 through February 1, 2029, by the lesser of (1) 1% of the total number of shares of our common stock (both Class A and Class B) outstanding on the last day of the fiscal year before the date of the automatic increase and (2) 7,500,000 shares; provided that before the date of any such increase, our board of directors may determine that such increase will be less than the amount set forth in clauses (1) and (2).

Under our current ESPP, Class A common stock will be purchased for the accounts of employees participating in the ESPP at a price per share equal to the lesser of (1) 85% of the fair market value of a share of our Class A common stock on the first date of an offering or (2) 85% of the fair market value of a share of our Class A common stock on the date of purchase. No employee may purchase shares under the ESPP at a rate in excess of $25,000 worth of our Class A common stock based on the fair market value per share of our Class A common stock at the beginning of an offering for each calendar year such purchase right is outstanding or 3,000 shares. The 2019 ESPP provides for, at maximum, 27 months offering periods with four offering dates, generally in June and December of each year. The first offering period began on April 18, 2019. As of April 30, 2020, 490,268 shares of our Class A common stock have been purchased under the ESPP.

As of April 30, 2020, unrecognized stock-based compensation expense related to the ESPP was $48.2 million, which is expected to be recognized over a weighted-average period of 1.1 years.

Early Exercise of Common Stock Options

Our board of directors authorized certain stock option holders to exercise unvested options to purchase shares of common stock. Shares received from such early exercises are subject to repurchase in the event of the optionee’s termination of service, at the original issuance price, until the options are fully vested. As of April 30, 2020 and January 31, 2020, 408,662 and 466,819 shares of Class B common stock, respectively, were subject to repurchase at a weighted-average price of $2.60 and $2.58 per share, respectively. The cash proceeds received for unvested shares of common stock recorded within accrued expenses and other current liabilities in the condensed consolidated balance sheets were $1.1 million and $1.2 million as of April 30, 2020 and January 31, 2020, respectively.

Shares Reserved for Charitable Donations

During fiscal year 2020, our board of directors approved the issuance of 500,000 shares of Class A common stock for the sole purpose of being transferred to a nonprofit organization to be formed or identified by us at a future time. As of April 30, 2020, 6,844 shares of Class A common stock have been transferred to a nonprofit organization. We recorded a non-cash charge of $1.0 million for the fair value of the donated shares, which was recorded in general and administrative expense in the condensed consolidated statements of operations for the three months ended April 30, 2020.

Stock-Based Compensation

The stock-based compensation expense by line item in the accompanying condensed consolidated statements of operations is summarized as follows:


	Three Months Ended April 30,
	2020		2019

	(in thousands)
Cost of revenue	$	3,249	$	830
Research and development	5,224		1,164
Sales and marketing	17,123		2,627
General and administrative	3,181		2,041
Total stock-based compensation expense	$	28,777	$	6,662

Income Taxes

3 Months Ended

Apr. 30, 2020

Income Tax Disclosure [Abstract]

Income Taxes

The following table provides details of the provision for income taxes:


	Three Months Ended April 30,
	2020			2019

	(in thousands, except percentages)
Net income before provision for income taxes	$	29,175		$	2,530
Provision for income taxes	2,100			316
Effective tax rate	7.2		%	12.5		%

The provision for income taxes was $2.1 million and $0.3 million for the three months ended April 30, 2020 and 2019, respectively. The provision for income taxes for the three months ended April 30, 2020 consisted primarily of foreign income taxes and state taxes. For the three months ended April 30, 2020 and 2019, the provision for income taxes differed from the U.S. federal statutory rate primarily due to stock-based compensation and the full valuation allowance on the U.S. and the U.K. deferred tax assets.

The realization of tax benefits of net deferred tax assets is dependent upon future levels of taxable income, of an appropriate character, in the periods the items are expected to be deductible or taxable. Based on the available objective evidence during the three months ended April 30, 2020, we believe it is more likely than not that the tax benefits of the U.S. and the U.K. losses incurred may not be realized. Accordingly, we recorded a full valuation allowance against the tax benefits of the U.S. and the U.K. losses incurred. We intend to maintain the full valuation allowance on the U.S. and the U.K. net deferred tax assets until sufficient positive evidence exists to support a reversal of, or decrease in, the valuation allowance.

During the three months ended April 30, 2020, there were no material changes to the total amount of unrecognized tax benefits.

Net Income Per Share Attributable to Common Stockholders

3 Months Ended

Apr. 30, 2020

Earnings Per Share [Abstract]

Net Income Per Share Attributable to Common Stockholders

The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders for the periods presented:


	Three Months Ended April 30,
	2020						2019
	Class A		Class B		Class A		Class B

Numerator:	(in thousands, except share and per share data)
Net income	$	14,007	$	13,068	$	15	$	2,199
Less: undistributed earnings attributable to participating securities	—		(39)		—		(2,016)
Net income attributable to common stockholders, basic	$	14,007	$	13,029	$	15	$	183
Reallocation of net income attributable to common stockholders	(591)		591		(3)		3
Net income attributable to common stockholders, diluted	$	13,416	$	13,620	$	12	$	186
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders, basic	145,004,142		134,886,969		8,393,169		101,315,729
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted	146,472,265		148,712,693		8,393,391		128,034,988
Net income per share attributable to common stockholders, basic	$	0.10	$	0.10	$	0.00	$	0.00
Net income per share attributable to common stockholders, diluted	$	0.09	$	0.09	$	0.00	$	0.00

The potential shares of common stock that were excluded from the computation of diluted net income per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive are as follows:


	Three Months Ended April 30,
	2020			2019
	Class A	Class B	Class A	Class B
Outstanding stock options	205,776	—	161,650	19,663
Unvested RSUs	41,999	—	—	—
Total	247,775	—	161,650	19,663

The table above does not include 493,156 shares of issued Class A common stock held by us as of April 30, 2020 and reserved for the sole purpose of being transferred to a nonprofit organization to be formed or identified by us at a future time.

Subsequent Events	3 Months Ended
Subsequent Events	Apr. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn May 7, 2020, we announced the acquisition of Keybase, a secure messaging and file-sharing company. The acquisition helps us strengthen the security of our video communications platform by providing end-to-end encryption expertise that we can leverage as we develop and roll out an end-to-end encryption offering. The total purchase consideration will be paid in cash from our existing balances of cash and cash equivalents.

Summary of Business and Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and applicable regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting, and include the accounts of Zoom Video Communications, Inc., its subsidiaries, and a variable interest entity (“VIE”) for which we are the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated balance sheet as of January 31, 2020 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. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of operations, statements of comprehensive income, statements of convertible preferred stock 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.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include, but are not limited to, the estimated expected benefit period for deferred contract acquisition costs, the allowance for credit losses, the useful lives of long-lived assets, the incremental borrowing rate for operating leases, the value of common stock and other assumptions used to measure stock-based compensation expense, sales and other tax liabilities, the fair value of the convertible promissory note, and the valuation of deferred income tax assets and uncertain tax positions. Actual results could differ from those estimates.
Restricted Cash	Restricted Cash Restricted cash consisted of certificates of deposit collateralizing our operating leases, corporate credit cards, and cash from proceeds on international employees’ sales of our common stock, and is included in prepaid expenses and other current assets and other assets, noncurrent in the condensed consolidated balance sheets. The amount is held in our bank account until it is remitted to the employees and the tax authorities. Due to the restrictions on the use of the funds in the bank account, we have classified the amount as restricted cash included in prepaid expenses and other current assets, and a corresponding amount included in accrued expenses and other current liabilities in the condensed consolidated balance sheets.
Allowance for Credit Losses	Allowance for Credit LossesWe are exposed to credit losses primarily through our accounts receivable and investments in available-for-sale debt securities. We maintain an allowance for credit losses for expected uncollectible accounts receivable, which is recorded as an offset to accounts receivable, and changes in such are classified as general and administrative expense in the condensed consolidated statements of operations. The allowance for credit losses is based on management’s estimate for expected credit losses for outstanding accounts receivable. We determine expected credit losses based on historical write-off experience, an analysis of the aging of outstanding receivables, customer payment patterns, the establishment of specific reserves for customers in an adverse financial condition, and adjusted based upon our expectations of changes in macro-economic conditions that may impact the collectability of outstanding receivables, including noncurrent accounts receivable. We also consider current market conditions and reasonable and supportable forecasts of future economic conditions to inform adjustments to historical loss data. We reassess the adequacy of the allowance for credit losses each reporting period.For the three months ended April 30, 2020, our assessment considered business and market disruptions caused by COVID-19 and estimates of credit and collectibility trends. The continued volatility in market conditions and evolving shifts in credit trends are difficult to predict, causing variability and volatility that may have a material impact on our allowance for credit losses in future periods.
Available for Sale Investments	Available-for-sale Investments Available-for-sale investments consist primarily of high-grade commercial paper, agency bonds, corporate bonds, corporate and other debt securities, U.S. government agency securities, and treasury bills. We classify our marketable securities as available-for-sale at the time of purchase and reevaluate such classification at each balance sheet date. We may sell these securities at any time for use in current operations even if they have not yet reached maturity. As a result, we classify our securities, including those with maturities beyond 12 months, as current assets in the condensed consolidated balance sheets. We carry these securities at fair value and record unrealized gains and losses in accumulated other comprehensive income, which is reflected as a component of stockholders’ equity. We evaluate our securities with unrealized loss positions as to whether the declines in fair value were due to credit losses, and record the portion of impairment relating to the credit losses through allowance for credit losses limited to the amount that fair value was less than the amortized cost basis. Realized gains and losses from the sale of marketable securities are determined based on the specific identification method. Realized gains and losses are reported in interest income and other, net in the condensed consolidated statements of operations.
Cloud Computing Arrangement Implementation Costs	Cloud Computing Arrangement Implementation Costs We capitalize certain implementation costs incurred in a cloud computing arrangement during the application development stage. Costs incurred in the preliminary stages of development are analogous to research and development activities and are expensed as incurred. The preliminary stage includes activities such as formulation and evaluation of alternatives, determination of existence of needed technology, and final selection of alternatives. Once the application development stage is reached, internal and external costs are capitalized until the hosted software is ready for its intended use. Capitalized implementation costs are recorded as deferred costs, and are included in prepaid expenses and other current assets and other assets, noncurrent in the condensed consolidated balance sheets. Maintenance, minor upgrades, and training costs are expensed as incurred. Capitalized implementation costs are amortized over the term of the hosting arrangement on a straight-line basis, and are recorded under operating expenses in the same line item in the condensed consolidated statements of operations as the expense for fees for the associated hosting arrangement. The capitalized implementation costs were not material during the three months ended April 30, 2020.
Convertible Promissory Note	Convertible Promissory Note In the first quarter of fiscal year 2021, we invested $5.0 million in a five-year convertible promissory note of a privately held company (the “Convertible Note”), which bears interest at 3.0% on the unpaid principal balance, compounded annually. We may elect to convert the Convertible Note into shares of the privately held company’s stock prior to, or on, the maturity date of the Convertible Note. Upon a liquidity event, the Convertible Note will be automatically converted into shares of the privately held company’s stock. The Convertible Note is included in other assets, noncurrent in the condensed consolidated balance sheets. Interest accrues on the unpaid principal balance on a quarterly basis, and is recognized in interest income and other, net in the condensed consolidated statements of operations. Interest income related to the Convertible Note was immaterial for the three months ended April 30, 2020. We have elected to measure the Convertible Note at fair value (i.e., using the fair value option). Under the fair value option, bifurcation of an embedded derivative is not necessary, and all related gains and losses on the host contract and derivative due to change in the fair value will be reflected in interest income and other, net in the condensed consolidated statements of operations. As of April 30, 2020, the fair value of the Convertible Note investment was measured at $5.0 million.
Equity Investment	We do not have a controlling financial interest in the investee nor the ability to exercise significant influence over the operating and financial policies of the investee. The investment is included within other assets, noncurrent in the condensed consolidated balance sheets. Dividend income, unrealized and realized holding gains or losses, and impairment charges would be reported in interest income and other, net in the condensed consolidated statements of operations. The maximum loss we could incur for this investment is its carrying value. We have elected to measure this investment, which does not have a readily determinable fair value, at its cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer (i.e., using the measurement alternative). At each reporting period, we perform a qualitative assessment considering impairment indicators to evaluate whether the investment is impaired. If this qualitative assessment indicates that the investment is impaired and the fair value of the investment is less than its carrying amount, the investment would be written down to its fair value.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which was subsequently amended by ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, in November 2018. Subsequently, the FASB issued ASU No. 2019-04, ASU No. 2019-05, ASU No. 2019-10, and ASU No. 2019-11 to provide additional guidance on the credit losses standard. ASU No. 2016-13 and the related updates replace the existing incurred loss impairment model with an expected credit loss model and requires a financial asset measured at amortized cost to be presented at the net amount expected to be collected. The guidance is effective for the annual periods in fiscal years beginning after December 15, 2019, and interim periods therein. We adopted the standard as of February 1, 2020, using the modified retrospective method of applying the new standard at the adoption date. Our adoption did not result in any cumulative effect adjustment on our condensed consolidated financial statements upon adoption as of February 1, 2020. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-use Software (subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. The amendment aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The guidance is effective for the annual periods in fiscal years beginning after December 15, 2019, and interim periods therein. We adopted ASU No. 2018-15, prospectively, as of February 1, 2020, and our adoption did not have a material impact on the condensed consolidated financial statements.

Summary of Business and Significant Accounting Policies (Tables)

3 Months Ended

Apr. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Accounts Receivable, Allowance for Credit Loss



	April 30, 2020

	(in thousands)
Accounts receivable, gross	$	269,502
Less: allowance for credit losses	(8,300)
Less: allowance for returns	(3,690)
Accounts receivable, net	$	257,512

Below is a rollforward of our allowance for credit losses for the three months ended April 30, 2020:




	(in thousands)
Balance as of January 31, 2020	$	5,150
Provision for credit losses	3,771
Write-offs	(621)
Balance as of April 30, 2020	$	8,300

Revenue Recognition (Tables)

3 Months Ended

Apr. 30, 2020

Revenue from Contract with Customer [Abstract]

Summary Disaggregation of Revenue by Region

The following table summarizes revenue by region based on the billing address of customers:


	Three Months Ended April 30,
	2020						2019
	Amount		Percentage of Revenue		Amount		Percentage of Revenue

	(in thousands, except percentages)
Americas	$	245,633	75	%	$	98,160	80	%
Asia Pacific (“APAC”)	31,278		9		10,441		9
Europe, Middle East, and Africa (“EMEA”)	51,256		16		13,387		11
Total	$	328,167	100	%	$	121,988	100	%

Marketable Securities (Tables)

3 Months Ended

Apr. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Summary of Marketable Securities

As of April 30, 2020 and January 31, 2020, our marketable securities consisted of the following:


	April 30, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

	(in thousands)





Commercial paper	$	11,892	$	—	$	—	$	11,892
Agency bonds	157,493		285		(56)		157,722
Corporate and other debt securities	392,575		1,780		(344)		394,011
U.S. government agency securities	49,871		218		—		50,089
Treasury bills	2,996		4		—		3,000
Marketable securities	$	614,827	$	2,287	$	(400)	$	616,714


	January 31, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

	(in thousands)


Commercial paper	$	37,894	$	—	$	—	$	37,894
Agency bonds	141,157		49		(43)		141,163
Corporate and other debt securities	320,407		775		(16)		321,166
U.S. government agency securities	71,794		45		(2)		71,837

Marketable securities	$	571,252	$	869	$	(61)	$	572,060

Summary of Contractual Maturities of Marketable Securities

The following table presents the contractual maturities of our marketable securities as of April 30, 2020 and January 31, 2020:


	As of
	April 30, 2020		January 31, 2020

	(in thousands)
Less than one year	$	326,287	$	315,900
Due in one to five years	290,427		256,160
Total	$	616,714	$	572,060

Fair Value Measurements (Tables)

3 Months Ended

Apr. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Measured at Fair Value on Recurring Basis


	April 30, 2020
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	220,739	$	220,739	$	—	$	—



Cash equivalents	220,739		220,739		—		—
Commercial paper	11,892		—		11,892		—
Agency bonds	157,722		—		157,722		—
Corporate and other debt securities	394,011		—		394,011		—
U.S. government agency securities	50,089		—		50,089		—
Treasury bills	3,000		—		3,000		—
Marketable securities	616,714		—		616,714		—
Certificate of deposit included in prepaid expenses and other current assets	100		—		100		—

Certificates of deposit included in other assets, noncurrent	2,296		—		2,296		—

Convertible Note included in other assets, noncurrent	5,000		—		—		5,000
Total financial assets	$	844,849	$	220,739	$	619,110	$	5,000


	January 31, 2020
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	96,486	$	96,486	$	—	$	—
Commercial paper	4,994		—		4,994		—
Agency bonds	9,999		—		9,999		—
Cash equivalents	111,479		96,486		14,993		—
Commercial paper	37,894		—		37,894		—
Agency bonds	141,163		—		141,163		—
Corporate and other debt securities	321,166		—		321,166		—
U.S. government agency securities	71,837		—		71,837		—

Marketable securities	572,060		—		572,060		—
Certificate of deposit included in prepaid expenses and other current assets	100		—		100		—

Certificates of deposit included in other assets, noncurrent	2,301		—		2,301		—

Total financial assets	$	685,940	$	96,486	$	589,454	$	—

Balance Sheet Components (Tables)

3 Months Ended

Apr. 30, 2020

Balance Sheet Components [Abstract]

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


	As of
	April 30, 2020		January 31, 2020

	(in thousands)
Restricted cash from international employee stock sales	$	267,091	$	48,547
Prepaid expenses	64,306		22,320
Other	4,627		4,141
Prepaid expenses and other current assets	$	336,024	$	75,008

Schedule of Property and Equipment

Property and equipment consisted of the following:


	As of
	April 30, 2020		January 31, 2020

	(in thousands)
Computer and office equipment	$	56,655	$	51,375
Leasehold improvements	18,134		18,215
Software	14,125		10,855
Furniture and fixtures	3,972		3,949
Property and equipment, gross	92,886		84,394
Less: accumulated depreciation and amortization	(32,407)		(27,256)
Property and equipment, net	$	60,479	$	57,138

Schedule of Other Noncurrent Assets

Other assets, noncurrent consisted of the following:


	As of
	April 30, 2020		January 31, 2020

	(in thousands)
Equity investment	$	13,538	$	3,000
Accounts receivable, noncurrent	12,980		9,011
Convertible Note	5,000		—



Other	11,796		10,321
Other assets, noncurrent	$	43,314	$	22,332

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	As of
	April 30, 2020		January 31, 2020

	(in thousands)
Liabilities to employees and tax authorities from international employee stock sales	$	267,917	$	49,287

Accrued compensation and benefits	118,632		36,732
Accrued expenses	80,924		17,475
Sales and other tax liabilities	16,777		3,774
Operating lease liabilities, current	8,722		7,675


Other	14,038		7,749
Accrued expenses and other current liabilities	$	507,010	$	122,692

Schedule of Other Liabilities Non Current

Other liabilities, noncurrent consisted of the following:


	As of
	April 30, 2020		January 31, 2020

	(in thousands)
Sales and other tax liabilities	$	38,345	$	33,957



Other	2,420		2,329
Other liabilities, noncurrent	$	40,765	$	36,286

Stockholders’ Equity and Equity Incentive Plan (Tables)

3 Months Ended

Apr. 30, 2020

Stockholders' Equity Note [Abstract]

Summary of Stock Option Activity Under Equity Incentive Plan

A summary of stock option activity under our equity incentive plan and related information is as follows:


	Stock Options
	Outstanding Stock Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value

	(in thousands, except share, life, and per share data)
Balance as of January 31, 2020	16,833,009	$	5.73	7.6	$	1,191,881
Granted	—	$	—
Exercised	(3,232,991)	$	2.97
Canceled/forfeited/expired	(52,093)	$	4.63
Balance as of April 30, 2020	13,547,925	$	6.39	7.6	$	1,744,720
Vested and exercisable as of April 30, 2020	5,449,596	$	2.70	7.0	$	721,922

Summary of Restricted Stock Units (RSUs) Activity Under Equity Incentive Plan

A summary of RSU activity under our equity incentive plan and related information is as follows:


	RSUs
	Unvested RSUs	Weighted- Average Grant Date Fair Value Per Share
Unvested as of January 31, 2020	1,964,668	$	79.11
Granted	419,354	$	119.62

Vested	(37,518)	$	80.36
Canceled/forfeited	(33,653)	$	80.78
Unvested as of April 30, 2020	2,312,851	$	86.42

Summary of Stock-based Compensation Expense by Line Item

The stock-based compensation expense by line item in the accompanying condensed consolidated statements of operations is summarized as follows:


	Three Months Ended April 30,
	2020		2019

	(in thousands)
Cost of revenue	$	3,249	$	830
Research and development	5,224		1,164
Sales and marketing	17,123		2,627
General and administrative	3,181		2,041
Total stock-based compensation expense	$	28,777	$	6,662

Income Taxes (Tables)

3 Months Ended

Apr. 30, 2020

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The following table provides details of the provision for income taxes:


	Three Months Ended April 30,
	2020			2019

	(in thousands, except percentages)
Net income before provision for income taxes	$	29,175		$	2,530
Provision for income taxes	2,100			316
Effective tax rate	7.2		%	12.5		%

Net Income Per Share Attributable to Common Stockholders (Tables)

3 Months Ended

Apr. 30, 2020

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders for the periods presented:


	Three Months Ended April 30,
	2020						2019
	Class A		Class B		Class A		Class B

Numerator:	(in thousands, except share and per share data)
Net income	$	14,007	$	13,068	$	15	$	2,199
Less: undistributed earnings attributable to participating securities	—		(39)		—		(2,016)
Net income attributable to common stockholders, basic	$	14,007	$	13,029	$	15	$	183
Reallocation of net income attributable to common stockholders	(591)		591		(3)		3
Net income attributable to common stockholders, diluted	$	13,416	$	13,620	$	12	$	186
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders, basic	145,004,142		134,886,969		8,393,169		101,315,729
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted	146,472,265		148,712,693		8,393,391		128,034,988
Net income per share attributable to common stockholders, basic	$	0.10	$	0.10	$	0.00	$	0.00
Net income per share attributable to common stockholders, diluted	$	0.09	$	0.09	$	0.00	$	0.00

Summary of Potential Shares of Common Stock Excluded from Computation of Diluted Net Income Per Share Attributable to Common Stockholders


	Three Months Ended April 30,
	2020			2019
	Class A	Class B	Class A	Class B
Outstanding stock options	205,776	—	161,650	19,663
Unvested RSUs	41,999	—	—	—
Total	247,775	—	161,650	19,663

Summary of Business and Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended
	Apr. 30, 2020	Oct. 31, 2019	Apr. 30, 2019	Jan. 31, 2020
Summary Of Business And Significant Accounting Policies [Line Items]
Proceeds from employee stock sales to be remitted	$ 267,100,000		$ 48,500,000
Proceeds from international employee stock sales to be remitted to employees and tax authorities, net	218,540,000		$ 0
Payments to acquire equity securities without readily determinable fair value	8,000,000.0	$ 3,000,000.0
Unrealized gain (loss) on investments	2,500,000
Equity securities without readily determinable fair value, amount	13,500,000			$ 3,000,000.0
Convertible Promissory Note \| Convertible Debt
Summary Of Business And Significant Accounting Policies [Line Items]
Debt instrument face amount	$ 5,000,000.0
Debt instrument term	5 years
Interest rate percentage	3.00%
Debt instrument, fair value disclosure	$ 5,000,000.0

Summary of Business and Significant Accounting Policies - Accounts Receivable, Allowance for Credit Loss (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts receivable, gross	$ 269,502
Less: allowance for credit losses	(8,300)	$ (5,150)
Less: allowance for returns	(3,690)
Accounts receivable, net	$ 257,512

Summary of Business and Significant Accounting Policies - Accounts Receivable Allowance For Credit Loss Rollforward (Details) $ in Thousands	3 Months Ended
	Apr. 30, 2020 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 5,150
Provision for credit losses	3,771
Write-offs	(621)
Ending balance	$ 8,300

Revenue Recognition - Summary Disaggregation of Revenue by Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 328,167	$ 121,988
Percentage of revenue	100.00%	100.00%
Americas
Disaggregation of Revenue [Line Items]
Revenue	$ 245,633	$ 98,160
Percentage of revenue	75.00%	80.00%
Asia Pacific (“APAC”)
Disaggregation of Revenue [Line Items]
Revenue	$ 31,278	$ 10,441
Percentage of revenue	9.00%	9.00%
Europe, Middle East, and Africa (“EMEA”)
Disaggregation of Revenue [Line Items]
Revenue	$ 51,256	$ 13,387
Percentage of revenue	16.00%	11.00%

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Jan. 31, 2020
Revenue from Contract with Customer [Abstract]
Unbilled contracts receivable	$ 19.6		$ 12.5
Revenue recognized included in deferred revenue	$ 98.0	$ 53.6

Revenue Recognition - Remaining Performance Obligation (Details) $ in Millions	Apr. 30, 2020 USD ($)
Disaggregation of Revenue [Line Items]
Remaining performance obligation	$ 1,100.0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-05-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation percentage	72.00%
Revenue remaining performance obligation, expected timing of satisfaction period	12 months
Billed consideration
Disaggregation of Revenue [Line Items]
Remaining performance obligation	$ 551.8
Unbilled consideration
Disaggregation of Revenue [Line Items]
Remaining performance obligation	$ 516.1

Marketable Securities - Summary of Marketable Securities (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Marketable Securities [Line Items]
Amortized Cost	$ 614,827	$ 571,252
Gross Unrealized Gains	2,287	869
Gross Unrealized Losses	(400)	(61)
Estimated Fair Value	616,714	572,060
Commercial paper
Marketable Securities [Line Items]
Amortized Cost	11,892	37,894
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	11,892	37,894
Agency bonds
Marketable Securities [Line Items]
Amortized Cost	157,493	141,157
Gross Unrealized Gains	285	49
Gross Unrealized Losses	(56)	(43)
Estimated Fair Value	157,722	141,163
Corporate and other debt securities
Marketable Securities [Line Items]
Amortized Cost	392,575	320,407
Gross Unrealized Gains	1,780	775
Gross Unrealized Losses	(344)	(16)
Estimated Fair Value	394,011	321,166
U.S. government agency securities
Marketable Securities [Line Items]
Amortized Cost	49,871	71,794
Gross Unrealized Gains	218	45
Gross Unrealized Losses	0	(2)
Estimated Fair Value	50,089	$ 71,837
Treasury bills
Marketable Securities [Line Items]
Amortized Cost	2,996
Gross Unrealized Gains	4
Gross Unrealized Losses	0
Estimated Fair Value	$ 3,000

Marketable Securities - Additional Information (Details) - USD ($)	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Debt securities, available-for-sale, realized gain (loss)	$ 0	$ 0

Marketable Securities - Summary of Contractual Maturities of Marketable Securities (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Less than one year	$ 326,287	$ 315,900
Due in one to five years	290,427	256,160
Total	$ 616,714	$ 572,060

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Apr. 30, 2020	Jan. 31, 2020
Fair Value Disclosures [Abstract]
Equity securities without readily determinable fair value, amount	$ 13.5	$ 3.0

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Balance Sheet Components [Abstract]
Restricted cash from international employee stock sales	$ 267,091	$ 48,547
Prepaid expenses	64,306	22,320
Other	4,627	4,141
Prepaid expenses and other current assets	$ 336,024	$ 75,008

Balance Sheet Components - Schedule of Property and Equipment Net (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 92,886	$ 84,394
Less: accumulated depreciation and amortization	(32,407)	(27,256)
Property, Plant and Equipment, Net, Total	60,479	57,138
Computer and Office Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	56,655	51,375
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	18,134	18,215
Software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	14,125	10,855
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,972	$ 3,949

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Balance Sheet Components [Abstract]
Depreciation and amortization expense	$ 5.3	$ 3.3

Balance Sheet Components - Other Noncurrent Assets (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Balance Sheet Components [Abstract]
Equity investment	$ 13,538	$ 3,000
Accounts receivable, noncurrent	12,980	9,011
Convertible Note	5,000	0
Other	11,796	10,321
Other assets, noncurrent	$ 43,314	$ 22,332

Balance Sheet Components - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Balance Sheet Components [Abstract]
Liabilities to employees and tax authorities from international employee stock sales	$ 267,917	$ 49,287
Accrued compensation and benefits	118,632	36,732
Accrued expenses	80,924	17,475
Sales and other tax liabilities	16,777	3,774
Operating lease liabilities, current	8,722	7,675
Other	14,038	7,749
Accrued expenses and other current liabilities	$ 507,010	$ 122,692

Balance Sheet Components - Schedule of Other Liabilities Non Current (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Balance Sheet Components [Abstract]
Sales and other tax liabilities	$ 38,345	$ 33,957
Other	2,420	2,329
Other liabilities, non-current	$ 40,765	$ 36,286

Commitments and Contingencies (Details) $ in Millions		1 Months Ended	3 Months Ended
Commitments and Contingencies (Details) $ in Millions	Apr. 08, 2020 officer	May 31, 2020 USD ($)	Apr. 30, 2020 USD ($)
Other Commitments [Line Items]
Purchase obligation			$ 18.0
Lessee, operating lease, lease not yet commenced, future lease payments			8.9
Payments for legal settlements			$ 9.8
Subsequent Event [Member]
Other Commitments [Line Items]
Payments for royalties		$ 9.8
Violation Of Securities Act Section 10(b), 20(a), and Rule 10b-5
Other Commitments [Line Items]
Loss contingency, number of defendants \| officer	2

Stockholders’ Equity and Equity Incentive Plan - Additional Information (Details)		1 Months Ended	3 Months Ended		6 Months Ended
	Oct. 31, 2019	Apr. 30, 2019 USD ($) shares	Apr. 30, 2020 USD ($) dates $ / shares shares	Apr. 30, 2019 shares	Jul. 31, 2019 USD ($) shares	Jan. 31, 2020 $ / shares shares
Class of Stock [Line Items]
Common stock, par value (in dollars per share) \| $ / shares			$ 0.001			$ 0.001
Stock options outstanding (in shares)			13,547,925			16,833,009
Unrecognized stock-based compensation expenses related to outstanding unvested stock options \| $			$ 69,000,000.0
Number of offering dates \| dates			4
Proceeds from unvested shares of common stock \| $			$ 1,100,000		$ 1,200,000
RSUs
Class of Stock [Line Items]
Unrecognized stock-based compensation excepted to be recognized over a weighted-average period	3 years 6 months
Unrecognized stock-based compensation expenses \| $			$ 179,400,000
Shares vested on the grant date (in shares)			37,518
Employee Stock Purchase Plan
Class of Stock [Line Items]
Unrecognized stock-based compensation excepted to be recognized over a weighted-average period	1 year 1 month 6 days
Unrecognized stock-based compensation expenses \| $			$ 48,200,000
Maximum number of shares per employee (in shares)		3,000
Consecutive offering period		27 months
Share-based Payment Arrangement, Option
Class of Stock [Line Items]
Unrecognized stock-based compensation excepted to be recognized over a weighted-average period			2 years 7 months 6 days
2011 Plan
Class of Stock [Line Items]
Number of shares available for future issuance (in shares)			24,300,889
2019 Plan
Class of Stock [Line Items]
Percentage of shares reserved increase			5.00%
2019 Employee Stock Purchase Plan \| Employee Stock Purchase Plan
Class of Stock [Line Items]
Annual increase in shares for available for future issuance by percentage of the outstanding ordinary shares on the first day of such fiscal year.		1.00%
Annual increase in Number of shares of common stock available for future issuance		7,500,000
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)			2,000,000,000			2,000,000,000
Common stock, capital shares reserved for future issuance, charitable donation (in shares)			6,844	500,000
Common stock, shares reserved for charitable donations, fair value, amount \| $			$ 1,000,000.0
Class A Common Stock \| Employee Stock Purchase Plan
Class of Stock [Line Items]
Percentage of purchase price of common stock to fair market value of common stock on offering or purchase date		85.00%
ESPP excess rate purchase right, value \| $		$ 25,000
Shares issued of common stock (in shares)			490,268
Class A Common Stock \| 2019 Plan
Class of Stock [Line Items]
Number of shares available for future issuance (in shares)			58,300,889
Numbers of additional shares authorized under the plan (in shares)			34,000,000
Class A Common Stock \| 2019 Employee Stock Purchase Plan \| Employee Stock Purchase Plan
Class of Stock [Line Items]
Number of shares available for future issuance (in shares)						9,000,000
Class A Common Stock \| Initial public offering
Class of Stock [Line Items]
Common stock, shares authorized (in shares)			2,000,000,000
Common stock, par value (in dollars per share) \| $ / shares			$ 0.001
Class B Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)			300,000,000			300,000,000
Number of common stock subject to repurchase (in shares)			408,662		466,819
Weighted average price per share (in dollars per share) \| $ / shares			$ 2.60			$ 2.58
Class B Common Stock \| Initial public offering
Class of Stock [Line Items]
Common stock, shares authorized (in shares)			300,000,000
Common stock, par value (in dollars per share) \| $ / shares			$ 0.001

Stockholders’ Equity and Equity Incentive Plan - Summary of Stock Option Activity Under Equity Incentive Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 30, 2020	Jan. 31, 2020
Outstanding Stock Options
Beginning balance (in shares)	16,833,009
Granted (in shares)	0
Exercised (in shares)	(3,232,991)
Cancelled/forfeited/expired (in shares)	(52,093)
Ending balance (in shares)	13,547,925	16,833,009
Weighted- Average Exercise Price
Beginning balance (in dollars per share)	$ 5.73
Granted (in dollars per share)	0
Exercised (in dollars per share)	2.97
Cancelled/forfeited/expired (in dollars per share)	4.63
Ending balance (in dollars per share)	$ 6.39	$ 5.73
Weighted- Average Remaining Contractual Life (Years)	7 years 7 months 6 days	7 years 7 months 6 days
Options outstanding, aggregate intrinsic value	$ 1,744,720	$ 1,191,881
Outstanding stock options, vested and exercisable (in shares)	5,449,596
Weighted average exercise price, vested and exercisable (in shares)	$ 2.70
Weighted-average remaining contractual life (years), vested and exercisable	7 years
Options outstanding, aggregate intrinsic value, vested and exercisable	$ 721,922

Stockholders’ Equity and Equity Incentive Plan - Summary of Restricted Stock Units Activity Under Equity Incentive Plan (Details) - RSUs	3 Months Ended
	Apr. 30, 2020 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in units) \| shares	1,964,668
Granted (in units) \| shares	419,354
Vested (in shares) \| shares	(37,518)
Cancelled/forfeited (in units) \| shares	(33,653)
Ending balance (in units) \| shares	2,312,851
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning balance (in dollars per unit) \| $ / shares	$ 79.11
Granted (in dollars per unit) \| $ / shares	119.62
Vested (in dollars per unit) \| $ / shares	80.36
Cancelled/forfeited (in dollars per unit) \| $ / shares	80.78
Ending balance (in dollars per unit) \| $ / shares	$ 86.42

Stockholders’ Equity and Equity Incentive Plan - Summary of Stock-based Compensation Expense by Line Item (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 28,777	$ 6,662
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	3,249	830
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	5,224	1,164
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	17,123	2,627
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 3,181	$ 2,041

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Apr. 30, 2019
Income Tax Disclosure [Abstract]
Net income before provision for income taxes	$ 29,175	$ 2,530
Provision for income taxes	$ 2,100	$ 316
Effective tax rate	7.20%	12.50%

Net Income Per Share Attributable to Common Stockholders - Schedule of Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Numerator:
Net income (loss)	$ 27,075	$ 2,214
Net income attributable to common stockholders	$ 27,036	$ 198
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares)	279,891,111	109,708,898
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares)	295,184,958	136,428,379
Net income per share attributable to common stockholders, basic (in dollars per share)	$ 0.10	$ 0.00
Net income per share attributable to common stockholders, diluted (in dollars per share)	$ 0.09	$ 0.00
Class A Common Stock
Numerator:
Net income (loss)	$ 14,007	$ 15
Less: undistributed earnings attributable to participating securities	0	0
Net income attributable to common stockholders	14,007	15
Reallocation of net income attributable to common stockholders	(591)	(3)
Net income (loss) attributable to common stockholders, diluted	$ 13,416	$ 12
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares)	145,004,142	8,393,169
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares)	146,472,265	8,393,391
Net income per share attributable to common stockholders, basic (in dollars per share)	$ 0.10	$ 0.00
Net income per share attributable to common stockholders, diluted (in dollars per share)	$ 0.09	$ 0.00
Class B Common Stock
Numerator:
Net income (loss)	$ 13,068	$ 2,199
Less: undistributed earnings attributable to participating securities	(39)	(2,016)
Net income attributable to common stockholders	13,029	183
Reallocation of net income attributable to common stockholders	591	3
Net income (loss) attributable to common stockholders, diluted	$ 13,620	$ 186
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares)	134,886,969	101,315,729
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares)	148,712,693	128,034,988
Net income per share attributable to common stockholders, basic (in dollars per share)	$ 0.10	$ 0.00
Net income per share attributable to common stockholders, diluted (in dollars per share)	$ 0.09	$ 0.00

Net Income Per Share Attributable to Common Stockholders - Summary of Potential Shares of Common Stock Excluded from Computation of Diluted Net Income Per Share Attributable to Common Stockholders (Details) - shares	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Class A Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	247,775	161,650
Class B Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	0	19,663
Outstanding stock options \| Class A Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	205,776	161,650
Outstanding stock options \| Class B Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	0	19,663
Unvested RSUs \| Class A Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	41,999	0
Unvested RSUs \| Class B Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	0	0
Held For Charitable Contributions \| Class A Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	493,156

Label	Element	Value
Restricted Cash and Cash Equivalents, Noncurrent	us-gaap_RestrictedCashAndCashEquivalentsNoncurrent	$ 2,295,000
Restricted Cash and Cash Equivalents, Noncurrent	us-gaap_RestrictedCashAndCashEquivalentsNoncurrent	2,144,000
Restricted Cash and Cash Equivalents, Current	us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue	267,191,000
Restricted Cash and Cash Equivalents, Current	us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue	$ 200,000

Fair Value Measurements - Schedule of Financial Instruments Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Financial Assets:
Marketable securities	$ 616,714	$ 572,060
Commercial paper
Financial Assets:
Marketable securities	11,892	37,894
Agency bonds
Financial Assets:
Marketable securities	157,722	141,163
Corporate and other debt securities
Financial Assets:
Marketable securities	394,011	321,166
U.S. government agency securities
Financial Assets:
Marketable securities	50,089	71,837
Fair Value, Recurring Basis
Financial Assets:
Cash equivalents	220,739	111,479
Marketable securities	616,714	572,060
Total financial assets	844,849	685,940
Fair Value, Recurring Basis \| Money market funds
Financial Assets:
Cash equivalents	220,739	96,486
Fair Value, Recurring Basis \| Commercial paper
Financial Assets:
Cash equivalents		4,994
Fair Value, Recurring Basis \| Agency bonds
Financial Assets:
Cash equivalents		9,999
Fair Value, Recurring Basis \| Commercial paper
Financial Assets:
Marketable securities	11,892	37,894
Fair Value, Recurring Basis \| Agency bonds
Financial Assets:
Marketable securities	157,722	141,163
Fair Value, Recurring Basis \| Corporate and other debt securities
Financial Assets:
Marketable securities		321,166
Fair Value, Recurring Basis \| Corporate and other debt securities
Financial Assets:
Marketable securities	394,011
Fair Value, Recurring Basis \| U.S. government agency securities
Financial Assets:
Marketable securities	50,089	71,837
Fair Value, Recurring Basis \| Treasury bills
Financial Assets:
Marketable securities	3,000
Fair Value, Recurring Basis \| Certificate of deposit included in prepaid expenses and other current assets
Financial Assets:
Prepaid expenses and other current assets	100	100
Other assets, noncurrent	2,296	2,301
Fair Value, Recurring Basis \| Convertible Note Included in Other Assets
Financial Assets:
Other assets, noncurrent	5,000
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1
Financial Assets:
Cash equivalents	220,739	96,486
Marketable securities	0	0
Total financial assets	220,739	96,486
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1 \| Money market funds
Financial Assets:
Cash equivalents	220,739	96,486
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1 \| Commercial paper
Financial Assets:
Cash equivalents		0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1 \| Agency bonds
Financial Assets:
Cash equivalents		0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1 \| Commercial paper
Financial Assets:
Marketable securities	0	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1 \| Agency bonds
Financial Assets:
Marketable securities	0	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1 \| Corporate and other debt securities
Financial Assets:
Marketable securities		0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1 \| Corporate and other debt securities
Financial Assets:
Marketable securities	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1 \| U.S. government agency securities
Financial Assets:
Marketable securities	0	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1 \| Treasury bills
Financial Assets:
Marketable securities	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1 \| Certificate of deposit included in prepaid expenses and other current assets
Financial Assets:
Prepaid expenses and other current assets	0	0
Other assets, noncurrent	0	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1 \| Convertible Note Included in Other Assets
Financial Assets:
Other assets, noncurrent	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2
Financial Assets:
Cash equivalents	0	14,993
Marketable securities	616,714	572,060
Total financial assets	619,110	589,454
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| Money market funds
Financial Assets:
Cash equivalents	0	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| Commercial paper
Financial Assets:
Cash equivalents		4,994
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| Agency bonds
Financial Assets:
Cash equivalents		9,999
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| Commercial paper
Financial Assets:
Marketable securities	11,892	37,894
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| Agency bonds
Financial Assets:
Marketable securities	157,722	141,163
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| Corporate and other debt securities
Financial Assets:
Marketable securities		321,166
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| Corporate and other debt securities
Financial Assets:
Marketable securities	394,011
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| U.S. government agency securities
Financial Assets:
Marketable securities	50,089	71,837
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| Treasury bills
Financial Assets:
Marketable securities	3,000
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| Certificate of deposit included in prepaid expenses and other current assets
Financial Assets:
Prepaid expenses and other current assets	100	100
Other assets, noncurrent	2,296	2,301
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| Convertible Note Included in Other Assets
Financial Assets:
Other assets, noncurrent	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 3
Financial Assets:
Cash equivalents	0	0
Marketable securities	0	0
Total financial assets	5,000	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 3 \| Money market funds
Financial Assets:
Cash equivalents	0	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 3 \| Commercial paper
Financial Assets:
Cash equivalents		0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 3 \| Agency bonds
Financial Assets:
Cash equivalents		0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 3 \| Commercial paper
Financial Assets:
Marketable securities	0	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 3 \| Agency bonds
Financial Assets:
Marketable securities	0	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 3 \| Corporate and other debt securities
Financial Assets:
Marketable securities		0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 3 \| Corporate and other debt securities
Financial Assets:
Marketable securities	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 3 \| U.S. government agency securities
Financial Assets:
Marketable securities	0	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 3 \| Treasury bills
Financial Assets:
Marketable securities	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 3 \| Certificate of deposit included in prepaid expenses and other current assets
Financial Assets:
Prepaid expenses and other current assets	0	0
Other assets, noncurrent	0	$ 0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 3 \| Convertible Note Included in Other Assets
Financial Assets:
Other assets, noncurrent	$ 5,000