0001585521-21-000131 | 10-Q | XBRL Viewer | Zoom Video Communications INC

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Cover - shares	3 Months Ended
Cover - shares	Apr. 30, 2021	May 21, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2021
Document Transition Report	false
Entity File Number	001-38865
Entity Registrant Name	Zoom Video Communications, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	61-1648780
Entity Address, Address Line One	55 Almaden Boulevard, 6th Floor
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95113
City Area Code	888
Local Phone Number	799-9666
Title of 12(b) Security	Class A Common Stock, $0.001 par value per share
Trading Symbol	ZM
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001585521
Current Fiscal Year End Date	--01-31
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		236,782,193
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		57,863,584

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 30, 2021	Jan. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,557,270	$ 2,240,303
Marketable securities	3,132,309	2,004,410
Accounts receivable, net of allowances of $33,664 and $36,844 as of April 30, 2021 and January 31, 2021, respectively	366,346	294,703
Deferred contract acquisition costs, current	148,645	136,630
Prepaid expenses and other current assets	136,326	116,819
Total current assets	5,340,896	4,792,865
Deferred contract acquisition costs, noncurrent	155,295	157,262
Property and equipment, net	192,410	149,924
Operating lease right-of-use assets	93,780	97,649
Goodwill	24,340	24,340
Other assets, noncurrent	81,890	75,953
Total assets	5,888,611	5,297,993
Current liabilities:
Accounts payable	8,324	8,664
Accrued expenses and other current liabilities	450,678	393,018
Deferred revenue, current	1,069,334	858,284
Total current liabilities	1,528,336	1,259,966
Deferred revenue, noncurrent	25,089	25,211
Operating lease liabilities, noncurrent	86,433	90,415
Other liabilities, noncurrent	56,020	61,634
Total liabilities	1,695,878	1,437,226
Commitments and contingencies (Note 7)
Stockholders’ equity:
Preferred stock, $0.001 par value per share, 200,000,000 shares authorized as of April 30, 2021 and January 31, 2021; zero shares issued and outstanding as of April 30, 2021 and January 31, 2021	0	0
Common stock, $0.001 par value per share, 2,000,000,000 Class A shares authorized as of April 30, 2021 and January 31, 2021; 236,487,446 and 215,737,924 shares issued and outstanding as of April 30, 2021 and January 31, 2021, respectively; 300,000,000 Class B shares authorized as of April 30, 2021 and January 31, 2021; 58,024,499 and 77,811,299 shares issued and outstanding as of April 30, 2021 and January 31, 2021, respectively	293	292
Additional paid-in capital	3,292,241	3,187,168
Accumulated other comprehensive income	200	839
Retained earnings	899,999	672,468
Total stockholders’ equity	4,192,733	3,860,767
Total liabilities and stockholders’ equity	$ 5,888,611	$ 5,297,993

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2021	Jan. 31, 2021
Accounts receivable, allowances	$ 33,664	$ 36,844
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)	236,487,446	215,737,924
Common stock, shares outstanding (in shares)	236,487,446	215,737,924
Class B Common Stock
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	58,024,499	77,811,299
Common stock, shares outstanding (in shares)	58,024,499	77,811,299

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Income Statement [Abstract]
Revenue	$ 956,237	$ 328,167
Cost of revenue	264,994	103,707
Gross profit	691,243	224,460
Operating expenses:
Research and development	65,175	26,389
Sales and marketing	245,667	121,556
General and administrative	154,089	53,130
Total operating expenses	464,931	201,075
Income from operations	226,312	23,385
Interest income and other, net	2,619	5,790
Income before provision for income taxes	228,931	29,175
Provision for income taxes	1,400	2,100
Net income	227,531	27,075
Undistributed earnings attributable to participating securities	(148)	(39)
Net income attributable to common stockholders	$ 227,383	$ 27,036
Net income per share attributable to common stockholders:
Basic (in dollars per share)	$ 0.77	$ 0.10
Diluted (in dollars per share)	$ 0.74	$ 0.09
Weighted-average shares used in computing net income per share attributable to common stockholders:
Basic (in shares)	293,794,778	279,891,111
Diluted (in shares)	305,412,419	295,184,958

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 227,531	$ 27,075
Other comprehensive (loss) income:
Unrealized (loss) gain on available-for-sale marketable securities, net of tax	(639)	1,078
Comprehensive income	$ 226,892	$ 28,153

- Definition

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

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income	Retained Earnings
Beginning balance (in shares) at Jan. 31, 2020		278,731,143
Beginning balance at Jan. 31, 2020	$ 833,943	$ 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
Issuance of common stock upon exercise of stock options	9,725	$ 3	9,722
Issuance of common stock upon release of restricted stock units (in shares)		27,877
Charitable donation of common stock	1,000		1,000
Stock-based compensation expense	28,810		28,810
Other comprehensive income (loss)	1,078			1,078
Net income	27,075				27,075
Ending balance (in shares) at Apr. 30, 2020		281,992,011
Ending balance at Apr. 30, 2020	901,631	$ 280	872,237	1,887	27,227
Beginning balance (in shares) at Jan. 31, 2021		293,549,223
Beginning balance at Jan. 31, 2021	$ 3,860,767	$ 292	3,187,168	839	672,468
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)	751,686	751,686
Issuance of common stock upon exercise of stock options	$ 3,476	$ 1	3,475
Issuance of common stock upon release of restricted stock units (in shares)		211,036
Stock-based compensation expense	101,598		101,598
Other comprehensive income (loss)	(639)			(639)
Net income	227,531				227,531
Ending balance (in shares) at Apr. 30, 2021		294,511,945
Ending balance at Apr. 30, 2021	$ 4,192,733	$ 293	$ 3,292,241	$ 200	$ 899,999

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Cash flows from operating activities:
Net income	$ 227,531	$ 27,075
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense	98,969	28,777
Amortization of deferred contract acquisition costs	37,766	16,287
Depreciation and amortization	10,663	5,339
Provision for accounts receivable allowances	4,055	3,868
Non-cash operating lease cost	4,274	2,248
Charitable donation of common stock	0	1,000
Other	5,866	(1,421)
Changes in operating assets and liabilities:
Accounts receivable	(75,665)	(142,501)
Prepaid expenses and other assets	(29,975)	(49,080)
Deferred contract acquisition costs	(47,813)	(124,854)
Accounts payable	1,592	1,756
Accrued expenses and other liabilities	88,656	167,322
Deferred revenue	210,896	322,862
Operating lease liabilities, net	(3,513)	287
Net cash provided by operating activities	533,302	258,965
Cash flows from investing activities:
Purchases of marketable securities	(1,425,451)	(207,546)
Maturities of marketable securities	291,047	137,014
Sales of marketable securities	0	26,613
Purchases of property and equipment	(79,074)	(7,272)
Purchase of equity investment	0	(8,000)
Purchase of convertible promissory note	(6,500)	(5,000)
Purchase of intangible assets	0	(162)
Other	0	1,319
Net cash used in investing activities	(1,219,978)	(63,034)
Cash flows from financing activities:
Proceeds from employee equity transactions (remitted) to be remitted to employees and tax authorities, net	(9,984)	218,540
Proceeds from exercise of stock options	3,368	9,586
Other	337	0
Net cash (used in) provided by financing activities	(6,279)	228,126
Net (decrease) increase in cash, cash equivalents, and restricted cash	(692,955)	424,057
Cash, cash equivalents, and restricted cash – beginning of period	2,293,116	334,082
Cash, cash equivalents, and restricted cash – end of period	1,600,161	758,139
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	1,557,270	488,653
Total cash, cash equivalents, and restricted cash	$ 1,600,161	$ 758,139

Summary of Business and Significant Accounting Policies	3 Months Ended
Summary of Business and Significant Accounting Policies	Apr. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Business and Significant Accounting Policies	Summary of Business and Significant Accounting Policies Description of Business Zoom Video Communications, Inc. and its subsidiaries (collectively, “Zoom,” the “Company,” “we,” “us,” or “our”) provide a video-first unified communications platform that delivers happiness and fundamentally changes how people interact. We connect people through frictionless and secure video, phone, chat, and content sharing and enable face-to-face video experiences for thousands of people in a single meeting across disparate devices and locations. 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 2022, for example, refer to the fiscal year ending January 31, 2022. 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 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, 2021 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 stockholders’ equity, 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, 2021, filed with the SEC on March 18, 2021. 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, 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 useful lives of long-lived assets, the incremental borrowing rate for operating leases, stock-based compensation expense, sales and other tax liabilities, the fair value of marketable securities, acquired intangible assets and goodwill, the valuation of deferred income tax assets and uncertain tax positions, and accruals and contingencies. Actual results could differ from those estimates. The 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, 2021 and 2020, 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, 2021, filed with the SEC on March 18, 2021. There have been no significant changes to these policies during the three months ended April 30, 2021.

Revenue Recognition

3 Months Ended

Apr. 30, 2021

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,
	2021				2020
	Amount		Percentage of Revenue		Amount		Percentage of Revenue

	(in thousands, except percentages)
Americas	$	635,784	66	%	$	245,633	75	%
Asia Pacific (“APAC”)	123,763		13		31,278		9
Europe, Middle East, and Africa (“EMEA”)	196,690		21		51,256		16
Total	$	956,237	100	%	$	328,167	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 $28.8 million and $24.6 million as of April 30, 2021 and January 31, 2021, 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, 2021 and 2020 that was included in deferred revenue at the beginning of each period was $419.1 million and $98.0 million, respectively.

Remaining Performance Obligations

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, quarterly, or monthly basis, depending on the billing terms with customers. As of April 30, 2021, the aggregate amount of the transaction price allocated to our remaining performance obligations was $2,073.4 million, which consisted of both billed consideration in the amount of $1,094.4 million and unbilled consideration in the amount of $979.0 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.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Marketable Securities

3 Months Ended

Apr. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

As of April 30, 2021 and January 31, 2021, our marketable securities consisted of the following:


	As of April 30, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

	(in thousands)





Commercial paper	$	57,707	$	—	$	—	$	57,707
Agency bonds	515,261		44		(148)		515,157
Corporate and other debt securities	469,972		563		(107)		470,428
U.S. government agency securities	1,876,688		124		(292)		1,876,520
Treasury bills	212,484		13		—		212,497
Marketable securities	$	3,132,112	$	744	$	(547)	$	3,132,309


	As of January 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

	(in thousands)


Commercial paper	$	26,222	$	—	$	—	$	26,222
Agency bonds	461,335		79		(49)		461,365
Corporate and other debt securities	465,207		1,113		(64)		466,256
U.S. government agency securities	834,894		28		(257)		834,665
Treasury bills	215,902		6		(6)		215,902
Marketable securities	$	2,003,560	$	1,226	$	(376)	$	2,004,410

We review the individual securities that have unrealized losses on a regular basis to evaluate whether or not any security has experienced, or is expected to experience, credit losses resulting 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, 2021 and 2020.

The following table presents the contractual maturities of our marketable securities as of April 30, 2021 and January 31, 2021:


	As of
	April 30, 2021		January 31, 2021

	(in thousands)
Less than one year	$	1,597,693	$	1,017,048
Due in one to five years	1,534,616		987,362
Total	$	3,132,309	$	2,004,410

Fair Value Measurements

3 Months Ended

Apr. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

The following tables present 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:


	As of April 30, 2021
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	631,128	$	631,128	$	—	$	—
Treasury bills	172,565		—		172,565		—


Cash equivalents	803,693		631,128		172,565		—
Commercial paper	57,707		—		57,707		—
Agency bonds	515,157		—		515,157		—
Corporate and other debt securities	470,428		—		470,428		—
U.S. government agency securities	1,876,520		—		1,876,520		—
Treasury bills	212,497		—		212,497		—
Marketable securities	3,132,309		—		3,132,309		—
Certificate of deposit included in prepaid expenses and other current assets	100		—		100		—

Certificates of deposit included in other assets, noncurrent	2,243		—		2,243		—

Convertible notes included in other assets, noncurrent	11,682		—		—		11,682
Total financial assets	$	3,950,027	$	631,128	$	3,307,217	$	11,682


	As of January 31, 2021
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	958,357	$	958,357	$	—	$	—
Treasury bills	618,498		—		618,498		—

Cash equivalents	1,576,855		958,357		618,498		—
Commercial paper	26,222		—		26,222		—
Agency bonds	461,365		—		461,365		—
Corporate and other debt securities	466,256		—		466,256		—
U.S. government agency securities	834,665		—		834,665		—
Treasury bills	215,902		—		215,902		—
Marketable securities	2,004,410		—		2,004,410		—
Certificate of deposit included in prepaid expenses and other current assets	100		—		100		—

Certificates of deposit included in other assets, noncurrent	2,238		—		2,238		—
Convertible note included in other assets, noncurrent	5,130		—		—		5,130
Total financial assets	$	3,588,733	$	958,357	$	2,625,246	$	5,130

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 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 notes 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.

- 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

Business Combinations	3 Months Ended
Business Combinations	Apr. 30, 2021
Business Combinations [Abstract]
Business Combinations	Business Combinations On May 7, 2020, we acquired 100% of the issued and outstanding share capital of Keybase, Inc. (“Keybase”), a secure messaging and file-sharing company, for purchase consideration of $42.9 million in cash. The acquisition helps us strengthen the security of our video communications platform by providing end-to-end encryption (“E2EE”) expertise. The acquisition has been accounted for as a business combination. In allocating the purchase consideration, $24.3 million was attributed to goodwill, $3.3 million to intangible assets, and $15.3 million to other net assets acquired primarily consisting of cash and cash equivalents of $16.4 million. The goodwill amount represents synergies related to our existing products expected to be realized from the acquisition and assembled workforce. The associated goodwill is not deductible for tax purposes. Acquired intangible assets consisted of developed technology with an estimated useful life of five years. The developed technology had a remaining useful life of 4.0 years as of April 30, 2021, and is amortized using the straight-line method over its estimated useful life. Not included in the purchase consideration, we also entered into holdback agreements with certain employees for $20.0 million in cash payments, which are subject to such employees’ continued service with us. The holdback amount of $20.0 million will be treated as compensation for research and development over the required service period ranging from one year to three years. Transaction costs incurred in connection with the acquisition were immaterial. The results of operations of Keybase have been included in our condensed consolidated financial statements from the date of the acquisition. Pro forma and historical results of operations of Keybase have not been presented, as the results do not have a material effect on any of the periods presented in our condensed consolidated statements of operations.

Balance Sheet Components

3 Months Ended

Apr. 30, 2021

Balance Sheet Components [Abstract]

Balance Sheet Components

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:


	As of
	April 30, 2021		January 31, 2021

	(in thousands)
Accounts receivable, gross	$	400,010	$	331,547
Less: Allowance for credit losses	(18,000)		(20,500)
Less: Allowance for returns	(15,664)		(16,344)
Accounts receivable, net	$	366,346	$	294,703

Below is a rollforward of our allowance for credit losses for the three months ended April 30, 2021 and 2020:




	2021		2020
	(in thousands)
Balance as of January 31	$	20,500	$	5,150
Provision for credit losses	1,028		3,771
Write-offs	(3,528)		(621)
Balance as of April 30	$	18,000	$	8,300

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


	As of
	April 30, 2021		January 31, 2021

	(in thousands)
Prepaid expenses	$	73,992	$	60,702
Restricted cash from international employee stock sales	40,548		50,475
Other receivables	19,265		4,107
Other	2,521		1,535
Prepaid expenses and other current assets	$	136,326	$	116,819

Property and Equipment, Net

Property and equipment consisted of the following:


	As of
	April 30, 2021		January 31, 2021

	(in thousands)
Computer and office equipment	$	178,923	$	137,445
Software	42,493		36,216
Leasehold improvements	24,223		23,593
Furniture and fixtures	4,562		4,625
Property and equipment, gross	250,201		201,879
Less: accumulated depreciation and amortization	(57,791)		(51,955)
Property and equipment, net	$	192,410	$	149,924

Depreciation and amortization expense was $10.5 million and $5.3 million for the three months ended April 30, 2021 and 2020, respectively.

Other Assets, Noncurrent

Other assets, noncurrent consisted of the following:


	As of
	April 30, 2021		January 31, 2021

	(in thousands)
Accounts receivable, noncurrent	$	26,981	$	28,008
Equity investment	13,538		13,538
Prepaid expenses, noncurrent	12,568		12,386
Convertible notes	11,682		5,130
Indefinite-lived intangible assets	8,002		8,002

Intangible assets subject to amortization, net	2,653		2,814
Other	6,466		6,075
Other assets, noncurrent	$	81,890	$	75,953

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	As of
	April 30, 2021		January 31, 2021

	(in thousands)

Accrued expenses	$	215,466	$	157,167
Accrued compensation and benefits	117,348		118,640
Proceeds from employee equity transactions to be remitted to employees and tax authorities	44,190		54,174
Sales and other tax liabilities	37,321		27,453
Operating lease liabilities, current	16,476		15,601
Customer deposit liabilities	13,046		13,050

Other	6,831		6,933
Accrued expenses and other current liabilities	$	450,678	$	393,018

Other Liabilities, Noncurrent

Other liabilities, noncurrent consisted of the following:


	As of
	April 30, 2021		January 31, 2021

	(in thousands)
Sales and other tax liabilities	$	52,457	$	58,133



Other	3,563		3,501
Other liabilities, noncurrent	$	56,020	$	61,634

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Apr. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Non-cancelable Purchase Obligations During the three months ended April 30, 2021, there have been no material changes to our non-cancelable purchase obligations from those disclosed in Note 8. “Commitments and Contingencies” in the notes to consolidated financial statements included in our Annual Report on Form 10-K for the year ended January 31, 2021, filed with the SEC on March 18, 2021. Other Contingencies In June 2020, we received a grand jury subpoena from the Department of Justice’s U.S. Attorney’s Office for the Eastern District of New York (“EDNY”), which requested information regarding our interactions with foreign governments and foreign political parties, including the Chinese government, as well as information regarding storage of and access to user data, the development and implementation of Zoom’s privacy policies, and the actions we took relating to the Tiananmen commemorations on Zoom. In July 2020, we received subpoenas from the Department of Justice’s U.S. Attorney’s Office for the Northern District of California (“NDCA”) and the SEC. Both subpoenas seek documents and information relating to various security, data protection and privacy matters, including our encryption, and our statements relating thereto, as well as calculation of usage metrics and related public statements. In addition, the NDCA subpoena seeks information relating to any contacts between our employees and representatives of the Chinese government, and any attempted or successful influence by any foreign government in our policies, procedures, practices, and actions as they relate to users in the United States. We have since received additional subpoenas from EDNY and NDCA seeking related information. We are fully cooperating with these investigations and have been conducting our own thorough internal investigation. These investigations are ongoing, and we do not know when they will be completed, which facts we will ultimately discover as a result of the investigations, or what actions the government may or may not take. We cannot predict the outcome of these investigations, and a negative outcome in any or all of these matters could cause us to incur material fines, penalties, or other financial exposure. Legal Proceedings 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 NDCA. 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 Exchange Act, 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. On May 18, 2020, the actions were consolidated. On November 4, 2020, the court appointed a lead plaintiff. On December 23, 2020, the lead plaintiff filed a consolidated complaint. We filed a motion to dismiss the consolidated complaint on May 20, 2021. Plaintiff’s opposition to our motion to dismiss is due on July 9, 2021 and our reply in support of the motion to dismiss is due August 9, 2021. A hearing on the motion to dismiss is scheduled for August 26, 2021. On June 11, 2020 and July 30, 2020, purported shareholder derivative complaints were filed in the United States District Court for the District of Delaware. The first complaint names as defendants nine of our officers and directors, and the second complaint names eight of our officers and directors. The lawsuits assert state and federal claims and are based on the same alleged misstatements as the shareholder class action complaint. The lawsuits accuse our board of directors of failing to exercise reasonable and prudent supervision over our management, policies, practices, and internal controls. The plaintiffs seek unspecified monetary damages on behalf of us as well as governance reforms. On September 25, 2020, the derivative cases were consolidated. The consolidated case is stayed pending resolution of a forthcoming motion to dismiss the securities class action. 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. Beginning on March 30, 2020, multiple putative class actions have been filed against us in various U.S. federal district courts and state courts relating to our alleged privacy and security practices, including alleged data sharing with third parties (the “U.S. Privacy Class Actions”). We have also been sued under the DC private attorney general statute on behalf of members of the general public. 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. The U.S. Privacy Class Actions 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, punitive damages, and attorneys’ fees. The federal cases have been transferred to and consolidated in the NDCA with our consent; lead plaintiffs’ counsel have been appointed; and plaintiffs filed their first amended consolidated class action complaint on October 28, 2020. On March 11, 2021, the Court granted in part, and denied in part, our motion to dismiss, and gave Plaintiffs leave to amend. On April 7, 2021, the parties reported to the court that they had reached agreement on certain material terms of a settlement, and that they intended to complete negotiations, finalize the details of a settlement, formally memorialize the settlement, and present the settlement to the Court for approval as expeditiously as possible. Plaintiffs filed a second amended complaint on May 12, 2021. Pending finalization of the settlement, Plaintiffs’ motion for class certification is due June 25, 2021. Accordingly, we recorded an aggregate legal settlement charge of $66.9 million net of amounts estimated to be covered by insurance as a general and administrative expense in our condensed consolidated statement of operations for the three months ended April 30, 2021. In September 2019, the Federal Trade Commission (“FTC”) issued a Civil Investigative Demand to us requiring us to produce certain documents and materials and to answer certain interrogatories relating to our privacy and security representations and practices. Since then, we have fully cooperated with the investigation. In October 2020, we reached a proposed settlement agreement with the FTC staff to resolve the FTC’s allegations that certain of our statements and practices about our security constituted deceptive and unfair acts or practices in violation of the FTC Act. On November 10, 2020, the FTC Commissioners voted to approve the settlement and, on November 13, 2020, the FTC published the settlement in the Federal Register for a 30-day public comment period, which ended on December 13, 2020. On January 19, 2021, the FTC voted to finalize the settlement. Under the terms of the settlement, we neither admit nor deny the FTC’s allegations, and the FTC does not impose any fine or penalty upon us. We are required to implement certain injunctive provisions, including, among other things, refraining from making any misrepresentations regarding the privacy and security of our services or how we collect, maintain, use, delete, disclose, allow access to, and protect user information. It also requires us to implement a detailed information security program and obtain third-party security assessments periodically. We do not expect the settlement to have a material impact on our financial results. We will cooperate with the FTC’s requirements and work to ensure compliance. Any failure to comply with the settlement may increase the possibility of additional adverse consequences, including litigation, additional regulatory actions, injunctions, or monetary penalties, or require further changes to our business practices, significant management time, or the diversion of significant operational resources, all of which could result in a material loss or otherwise harm our business. In addition, from time to time, we are involved in various other legal proceedings arising from the normal course of business activities. We are not presently a party to any other such litigation the outcome of which, we believe, if determined adversely to us, would individually, or taken together, have a material adverse effect on our business, operating results, cash flows, or financial condition. Defending such proceedings is costly and can impose a significant burden on management and employees. We may receive unfavorable preliminary or interim rulings in the course of litigation, and there can be no assurances that favorable final outcomes will be obtained.

Stockholders’ Equity and Equity Incentive Plans

3 Months Ended

Apr. 30, 2021

Stockholders' Equity Note [Abstract]

Stockholders’ Equity and Equity Incentive Plans

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

We have two equity incentive plans: the 2011 Global Share Plan (“2011 Plan”) and the 2019 Equity Incentive Plan (“2019 Plan”). All shares that remain available for future grants are under the 2019 Plan.

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, 2021	9,239,504	$	7.17	7.0	$	3,371,457
Granted	—	$	—
Exercised	(751,686)	$	4.48
Canceled/forfeited/expired	(66,838)	$	5.05
Balance as of April 30, 2021	8,420,980	$	7.43	6.8	$	2,628,512
Vested and exercisable as of April 30, 2021	4,853,741	$	4.39	6.4	$	1,529,787

As of April 30, 2021, unrecognized stock-based compensation expense related to outstanding unvested stock options was $39.6 million, which is expected to be recognized over a weighted-average period of 1.3 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, 2021	4,510,730	$	194.57
Granted	361,404	$	334.88

Vested	(211,036)	$	103.91
Canceled/forfeited	(40,793)	$	260.68
Unvested as of April 30, 2021	4,620,305	$	209.10

As of April 30, 2021, unrecognized stock-based compensation expense related to outstanding unvested RSUs was $772.9 million, which is expected to be recognized over a weighted-average period of 2.5 years.

2019 Employee Stock Purchase Plan

In April 2019, we adopted the 2019 Employee Stock Purchase Plan (“ESPP”). As of April 30, 2021, unrecognized stock-based compensation expense related to the ESPP was $10.2 million, which is expected to be recognized over a weighted-average period of 0.1 years.

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,
	2021		2020

	(in thousands)
Cost of revenue	$	14,066	$	3,249
Research and development	20,819		5,224
Sales and marketing	51,812		17,123
General and administrative	12,272		3,181
Total stock-based compensation expense	$	98,969	$	28,777

Income Taxes

3 Months Ended

Apr. 30, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Our tax provision for interim periods is determined using an estimated annual effective tax rate, adjusted for discrete items arising in the applicable quarter. In each quarter, we update the estimated annual effective tax rate and make a year-to-date adjustment to the provision. The estimated annual effective tax rate is subject to significant volatility due to several factors, including our ability to accurately predict the proportion of our pretax income in multiple jurisdictions and certain book-tax differences.

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


	Three Months Ended April 30,
	2021			2020

	(in thousands, except percentages)
Income before provision for income taxes	$	228,931		$	29,175
Provision for income taxes	1,400			2,100
Effective tax rate	0.6		%	7.2		%

The provision for income taxes was $1.4 million and $2.1 million for the three months ended April 30, 2021 and 2020, respectively. The provision for income taxes for the three months ended April 30, 2021 consisted primarily of federal, state, and foreign income taxes. For the three months ended April 30, 2021 and 2020, the provision for income taxes differed from the U.S. federal statutory rate primarily due to stock-based compensation and the 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, 2021, 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.

In our valuation allowance evaluation, we give more weight to evidence that can be objectively verified than to evidence that cannot be objectively verified. Our consideration of the evidence requires management to make a number of significant judgements, estimates, and assumptions about highly complex and inherently uncertain matters. Given our current earnings and anticipated future earnings, we believe that there is a reasonable possibility that in the foreseeable future, sufficient positive evidence may become available that results in a conclusion that a portion of the valuation allowance will no longer be needed. Release of the valuation allowance would result in the recognition of certain deferred tax assets and a decrease to income tax expense for the period the release is recorded. However, the exact timing and amount of the valuation allowance release are subject to change on the basis of the level of profitability (pretax income adjusted for permanent differences) that we are able to actually achieve.

During the three months ended April 30, 2021, there were no material changes to the total amount of unrecognized tax benefits and we do not expect any significant changes in the next 12 months.

On March 11, 2021, the American Rescue Plan Act of 2021 (“American Rescue Plan Act”) was passed and amended portions of relevant tax laws. The American Rescue Plan Act did not have a significant impact on the provision for income taxes for the three months ended April 30, 2021.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Net Income Per Share Attributable to Common Stockholders

3 Months Ended

Apr. 30, 2021

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,
	2021				2020
	Class A		Class B		Class A		Class B

Numerator:	(in thousands, except share and per share data)
Net income	$	177,405	$	50,126	$	14,007	$	13,068
Less: Undistributed earnings attributable to participating securities	—		(148)		—		(39)
Net income attributable to common stockholders, basic	$	177,405	$	49,978	$	14,007	$	13,029
Reallocation of net income attributable to common stockholders	(4,308)		4,308		(591)		591
Net income attributable to common stockholders, diluted	$	173,097	$	54,286	$	13,416	$	13,620
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders, basic	229,220,253		64,574,525		145,004,142		134,886,969
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted	232,497,872		72,914,547		146,472,265		148,712,693
Net income per share attributable to common stockholders, basic	$	0.77	$	0.77	$	0.10	$	0.10
Net income per share attributable to common stockholders, diluted	$	0.74	$	0.74	$	0.09	$	0.09

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,
	2021		2020
	Class A	Class B	Class A	Class B
Unvested RSUs	279,046	—	41,999	—
Purchase rights committed under the ESPP	21,830	—	—	—
Outstanding stock options	—	—	205,776	—

Total	300,876	—	247,775	—

The table above does not include 405,156 and 493,156 shares of issued Class A common stock held by us as of April 30, 2021 and 2020, respectively, that are reserved for the sole purpose of being transferred to nonprofit organizations.

Subsequent Events	3 Months Ended
Subsequent Events	Apr. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsIn June 2021, we entered into an agreement with a technology company pursuant to which we have agreed to purchase $75.0 million of their ordinary shares in a concurrent private placement at a price per ordinary share equal to the per share IPO price (before underwriting discounts and expenses) in their IPO pursuant to a registration statement. The private placement is contingent upon, and is scheduled to close immediately subsequent to, the closing of their IPO as well as the satisfaction of certain conditions to closing.

Summary of Business and Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 30, 2021
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 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, 2021 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 stockholders’ equity, 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, 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 useful lives of long-lived assets, the incremental borrowing rate for operating leases, stock-based compensation expense, sales and other tax liabilities, the fair value of marketable securities, acquired intangible assets and goodwill, the valuation of deferred income tax assets and uncertain tax positions, and accruals and contingencies. Actual results could differ from those estimates.

Revenue Recognition (Tables)

3 Months Ended

Apr. 30, 2021

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,
	2021				2020
	Amount		Percentage of Revenue		Amount		Percentage of Revenue

	(in thousands, except percentages)
Americas	$	635,784	66	%	$	245,633	75	%
Asia Pacific (“APAC”)	123,763		13		31,278		9
Europe, Middle East, and Africa (“EMEA”)	196,690		21		51,256		16
Total	$	956,237	100	%	$	328,167	100	%

Marketable Securities (Tables)

3 Months Ended

Apr. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Summary of Marketable Securities

As of April 30, 2021 and January 31, 2021, our marketable securities consisted of the following:


	As of April 30, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

	(in thousands)





Commercial paper	$	57,707	$	—	$	—	$	57,707
Agency bonds	515,261		44		(148)		515,157
Corporate and other debt securities	469,972		563		(107)		470,428
U.S. government agency securities	1,876,688		124		(292)		1,876,520
Treasury bills	212,484		13		—		212,497
Marketable securities	$	3,132,112	$	744	$	(547)	$	3,132,309


	As of January 31, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

	(in thousands)


Commercial paper	$	26,222	$	—	$	—	$	26,222
Agency bonds	461,335		79		(49)		461,365
Corporate and other debt securities	465,207		1,113		(64)		466,256
U.S. government agency securities	834,894		28		(257)		834,665
Treasury bills	215,902		6		(6)		215,902
Marketable securities	$	2,003,560	$	1,226	$	(376)	$	2,004,410

Summary of Contractual Maturities of Marketable Securities

The following table presents the contractual maturities of our marketable securities as of April 30, 2021 and January 31, 2021:


	As of
	April 30, 2021		January 31, 2021

	(in thousands)
Less than one year	$	1,597,693	$	1,017,048
Due in one to five years	1,534,616		987,362
Total	$	3,132,309	$	2,004,410

Fair Value Measurements (Tables)

3 Months Ended

Apr. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Measured at Fair Value on Recurring Basis


	As of April 30, 2021
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	631,128	$	631,128	$	—	$	—
Treasury bills	172,565		—		172,565		—


Cash equivalents	803,693		631,128		172,565		—
Commercial paper	57,707		—		57,707		—
Agency bonds	515,157		—		515,157		—
Corporate and other debt securities	470,428		—		470,428		—
U.S. government agency securities	1,876,520		—		1,876,520		—
Treasury bills	212,497		—		212,497		—
Marketable securities	3,132,309		—		3,132,309		—
Certificate of deposit included in prepaid expenses and other current assets	100		—		100		—

Certificates of deposit included in other assets, noncurrent	2,243		—		2,243		—

Convertible notes included in other assets, noncurrent	11,682		—		—		11,682
Total financial assets	$	3,950,027	$	631,128	$	3,307,217	$	11,682


	As of January 31, 2021
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	958,357	$	958,357	$	—	$	—
Treasury bills	618,498		—		618,498		—

Cash equivalents	1,576,855		958,357		618,498		—
Commercial paper	26,222		—		26,222		—
Agency bonds	461,365		—		461,365		—
Corporate and other debt securities	466,256		—		466,256		—
U.S. government agency securities	834,665		—		834,665		—
Treasury bills	215,902		—		215,902		—
Marketable securities	2,004,410		—		2,004,410		—
Certificate of deposit included in prepaid expenses and other current assets	100		—		100		—

Certificates of deposit included in other assets, noncurrent	2,238		—		2,238		—
Convertible note included in other assets, noncurrent	5,130		—		—		5,130
Total financial assets	$	3,588,733	$	958,357	$	2,625,246	$	5,130

Balance Sheet Components (Tables)

3 Months Ended

Apr. 30, 2021

Balance Sheet Components [Abstract]

Schedule of Accounts Receivable

Our short-term accounts receivable consist of the following:


	As of
	April 30, 2021		January 31, 2021

	(in thousands)
Accounts receivable, gross	$	400,010	$	331,547
Less: Allowance for credit losses	(18,000)		(20,500)
Less: Allowance for returns	(15,664)		(16,344)
Accounts receivable, net	$	366,346	$	294,703

Accounts Receivable, Allowance for Credit Loss

Below is a rollforward of our allowance for credit losses for the three months ended April 30, 2021 and 2020:




	2021		2020
	(in thousands)
Balance as of January 31	$	20,500	$	5,150
Provision for credit losses	1,028		3,771
Write-offs	(3,528)		(621)
Balance as of April 30	$	18,000	$	8,300

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


	As of
	April 30, 2021		January 31, 2021

	(in thousands)
Prepaid expenses	$	73,992	$	60,702
Restricted cash from international employee stock sales	40,548		50,475
Other receivables	19,265		4,107
Other	2,521		1,535
Prepaid expenses and other current assets	$	136,326	$	116,819

Schedule of Property and Equipment

Property and equipment consisted of the following:


	As of
	April 30, 2021		January 31, 2021

	(in thousands)
Computer and office equipment	$	178,923	$	137,445
Software	42,493		36,216
Leasehold improvements	24,223		23,593
Furniture and fixtures	4,562		4,625
Property and equipment, gross	250,201		201,879
Less: accumulated depreciation and amortization	(57,791)		(51,955)
Property and equipment, net	$	192,410	$	149,924

Schedule of Other Noncurrent Assets

Other assets, noncurrent consisted of the following:


	As of
	April 30, 2021		January 31, 2021

	(in thousands)
Accounts receivable, noncurrent	$	26,981	$	28,008
Equity investment	13,538		13,538
Prepaid expenses, noncurrent	12,568		12,386
Convertible notes	11,682		5,130
Indefinite-lived intangible assets	8,002		8,002

Intangible assets subject to amortization, net	2,653		2,814
Other	6,466		6,075
Other assets, noncurrent	$	81,890	$	75,953

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	As of
	April 30, 2021		January 31, 2021

	(in thousands)

Accrued expenses	$	215,466	$	157,167
Accrued compensation and benefits	117,348		118,640
Proceeds from employee equity transactions to be remitted to employees and tax authorities	44,190		54,174
Sales and other tax liabilities	37,321		27,453
Operating lease liabilities, current	16,476		15,601
Customer deposit liabilities	13,046		13,050

Other	6,831		6,933
Accrued expenses and other current liabilities	$	450,678	$	393,018

Schedule of Other Liabilities Non Current

Other liabilities, noncurrent consisted of the following:


	As of
	April 30, 2021		January 31, 2021

	(in thousands)
Sales and other tax liabilities	$	52,457	$	58,133



Other	3,563		3,501
Other liabilities, noncurrent	$	56,020	$	61,634

Stockholders’ Equity and Equity Incentive Plans (Tables)

3 Months Ended

Apr. 30, 2021

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, 2021	9,239,504	$	7.17	7.0	$	3,371,457
Granted	—	$	—
Exercised	(751,686)	$	4.48
Canceled/forfeited/expired	(66,838)	$	5.05
Balance as of April 30, 2021	8,420,980	$	7.43	6.8	$	2,628,512
Vested and exercisable as of April 30, 2021	4,853,741	$	4.39	6.4	$	1,529,787

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, 2021	4,510,730	$	194.57
Granted	361,404	$	334.88

Vested	(211,036)	$	103.91
Canceled/forfeited	(40,793)	$	260.68
Unvested as of April 30, 2021	4,620,305	$	209.10

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,
	2021		2020

	(in thousands)
Cost of revenue	$	14,066	$	3,249
Research and development	20,819		5,224
Sales and marketing	51,812		17,123
General and administrative	12,272		3,181
Total stock-based compensation expense	$	98,969	$	28,777

Income Taxes (Tables)

3 Months Ended

Apr. 30, 2021

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,
	2021			2020

	(in thousands, except percentages)
Income before provision for income taxes	$	228,931		$	29,175
Provision for income taxes	1,400			2,100
Effective tax rate	0.6		%	7.2		%

Net Income Per Share Attributable to Common Stockholders (Tables)

3 Months Ended

Apr. 30, 2021

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,
	2021				2020
	Class A		Class B		Class A		Class B

Numerator:	(in thousands, except share and per share data)
Net income	$	177,405	$	50,126	$	14,007	$	13,068
Less: Undistributed earnings attributable to participating securities	—		(148)		—		(39)
Net income attributable to common stockholders, basic	$	177,405	$	49,978	$	14,007	$	13,029
Reallocation of net income attributable to common stockholders	(4,308)		4,308		(591)		591
Net income attributable to common stockholders, diluted	$	173,097	$	54,286	$	13,416	$	13,620
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders, basic	229,220,253		64,574,525		145,004,142		134,886,969
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted	232,497,872		72,914,547		146,472,265		148,712,693
Net income per share attributable to common stockholders, basic	$	0.77	$	0.77	$	0.10	$	0.10
Net income per share attributable to common stockholders, diluted	$	0.74	$	0.74	$	0.09	$	0.09

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,
	2021		2020
	Class A	Class B	Class A	Class B
Unvested RSUs	279,046	—	41,999	—
Purchase rights committed under the ESPP	21,830	—	—	—
Outstanding stock options	—	—	205,776	—

Total	300,876	—	247,775	—

Revenue Recognition - Summary Disaggregation of Revenue by Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 956,237	$ 328,167
Percentage of revenue	100.00%	100.00%
Americas
Disaggregation of Revenue [Line Items]
Revenue	$ 635,784	$ 245,633
Percentage of revenue	66.00%	75.00%
Asia Pacific (“APAC”)
Disaggregation of Revenue [Line Items]
Revenue	$ 123,763	$ 31,278
Percentage of revenue	13.00%	9.00%
Europe, Middle East, and Africa (“EMEA”)
Disaggregation of Revenue [Line Items]
Revenue	$ 196,690	$ 51,256
Percentage of revenue	21.00%	16.00%

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020	Jan. 31, 2021
Revenue from Contract with Customer [Abstract]
Unbilled contracts receivable	$ 28.8		$ 24.6
Revenue recognized included in deferred revenue	$ 419.1	$ 98.0

Revenue Recognition - Remaining Performance Obligation (Details) $ in Millions	Apr. 30, 2021 USD ($)
Disaggregation of Revenue [Line Items]
Remaining performance obligation	$ 2,073.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-05-01
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	$ 1,094.4
Unbilled consideration
Disaggregation of Revenue [Line Items]
Remaining performance obligation	$ 979.0

Marketable Securities - Summary of Marketable Securities (Details) - USD ($) $ in Thousands	Apr. 30, 2021	Jan. 31, 2021
Marketable Securities [Line Items]
Amortized Cost	$ 3,132,112	$ 2,003,560
Gross Unrealized Gains	744	1,226
Gross Unrealized Losses	(547)	(376)
Estimated Fair Value	3,132,309	2,004,410
Commercial paper
Marketable Securities [Line Items]
Amortized Cost	57,707	26,222
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	57,707	26,222
Agency bonds
Marketable Securities [Line Items]
Amortized Cost	515,261	461,335
Gross Unrealized Gains	44	79
Gross Unrealized Losses	(148)	(49)
Estimated Fair Value	515,157	461,365
Corporate and other debt securities
Marketable Securities [Line Items]
Amortized Cost	469,972	465,207
Gross Unrealized Gains	563	1,113
Gross Unrealized Losses	(107)	(64)
Estimated Fair Value	470,428	466,256
U.S. government agency securities
Marketable Securities [Line Items]
Amortized Cost	1,876,688	834,894
Gross Unrealized Gains	124	28
Gross Unrealized Losses	(292)	(257)
Estimated Fair Value	1,876,520	834,665
Treasury bills
Marketable Securities [Line Items]
Amortized Cost	212,484	215,902
Gross Unrealized Gains	13	6
Gross Unrealized Losses	0	(6)
Estimated Fair Value	$ 212,497	$ 215,902

Marketable Securities - Additional Information (Details) - USD ($)	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
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, 2021	Jan. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Less than one year	$ 1,597,693	$ 1,017,048
Due in one to five years	1,534,616	987,362
Total	$ 3,132,309	$ 2,004,410

Fair Value Measurements - Schedule of Financial Instruments Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Apr. 30, 2021	Jan. 31, 2021
Financial Assets:
Marketable securities	$ 3,132,309	$ 2,004,410
Commercial paper
Financial Assets:
Marketable securities	57,707	26,222
Agency bonds
Financial Assets:
Marketable securities	515,157	461,365
Corporate and other debt securities
Financial Assets:
Marketable securities	470,428	466,256
U.S. government agency securities
Financial Assets:
Marketable securities	1,876,520	834,665
Fair Value, Recurring Basis
Financial Assets:
Cash equivalents	803,693	1,576,855
Marketable securities	3,132,309	2,004,410
Total financial assets	3,950,027	3,588,733
Fair Value, Recurring Basis \| Commercial paper
Financial Assets:
Marketable securities	57,707	26,222
Fair Value, Recurring Basis \| Agency bonds
Financial Assets:
Marketable securities	515,157	461,365
Fair Value, Recurring Basis \| Corporate and other debt securities
Financial Assets:
Marketable securities	470,428	466,256
Fair Value, Recurring Basis \| U.S. government agency securities
Financial Assets:
Marketable securities	1,876,520	834,665
Fair Value, Recurring Basis \| Treasury bills
Financial Assets:
Marketable securities	212,497	215,902
Fair Value, Recurring Basis \| Certificates of deposit
Financial Assets:
Certificate of deposit included in prepaid expenses and other current assets	100	100
Other assets, noncurrent	2,243	2,238
Fair Value, Recurring Basis \| Convertible notes included in other assets, noncurrent
Financial Assets:
Other assets, noncurrent	11,682	5,130
Fair Value, Recurring Basis \| Money market funds
Financial Assets:
Cash equivalents	631,128	958,357
Fair Value, Recurring Basis \| Treasury bills
Financial Assets:
Cash equivalents	172,565	618,498
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1
Financial Assets:
Cash equivalents	631,128	958,357
Marketable securities	0	0
Total financial assets	631,128	958,357
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	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	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1 \| Certificates of deposit
Financial Assets:
Certificate of deposit included in prepaid expenses and other current assets	0	0
Other assets, noncurrent	0	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1 \| Convertible notes included in other assets, noncurrent
Financial Assets:
Other assets, noncurrent	0	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1 \| Money market funds
Financial Assets:
Cash equivalents	631,128	958,357
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 1 \| Treasury bills
Financial Assets:
Cash equivalents	0	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2
Financial Assets:
Cash equivalents	172,565	618,498
Marketable securities	3,132,309	2,004,410
Total financial assets	3,307,217	2,625,246
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| Commercial paper
Financial Assets:
Marketable securities	57,707	26,222
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| Agency bonds
Financial Assets:
Marketable securities	515,157	461,365
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| Corporate and other debt securities
Financial Assets:
Marketable securities	470,428	466,256
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| U.S. government agency securities
Financial Assets:
Marketable securities	1,876,520	834,665
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| Treasury bills
Financial Assets:
Marketable securities	212,497	215,902
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| Certificates of deposit
Financial Assets:
Certificate of deposit included in prepaid expenses and other current assets	100	100
Other assets, noncurrent	2,243	2,238
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 2 \| Convertible notes included in other assets, noncurrent
Financial Assets:
Other assets, noncurrent	0	0
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 \| Treasury bills
Financial Assets:
Cash equivalents	172,565	618,498
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 3
Financial Assets:
Cash equivalents	0	0
Marketable securities	0	0
Total financial assets	11,682	5,130
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	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	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 3 \| Certificates of deposit
Financial Assets:
Certificate of deposit included in prepaid expenses and other current assets	0	0
Other assets, noncurrent	0	0
Fair Value, Recurring Basis \| Fair Value, Inputs, Level 3 \| Convertible notes included in other assets, noncurrent
Financial Assets:
Other assets, noncurrent	11,682	5,130
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 \| Treasury bills
Financial Assets:
Cash equivalents	$ 0	$ 0

Business Combinations (Details) - USD ($) $ in Thousands	Apr. 30, 2021	May 07, 2020	Jan. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 24,340		$ 24,340
Minimum
Business Acquisition [Line Items]
Holdback agreements, service period		1 year
Maximum
Business Acquisition [Line Items]
Holdback agreements, service period		3 years
Keybase
Business Acquisition [Line Items]
Business acquisition, percentage of voting interests acquired		100.00%
Payments to acquire businesses, gross		$ 42,900
Goodwill		24,300
Intangible assets, other than goodwill		3,300
Business combination, current assets, other		15,300
Business combination, cash and equivalents		$ 16,400
Acquired finite-lived intangible assets, weighted average useful life	4 years	5 years
Holdback agreements related to employees		$ 20,000

Balance Sheet Components - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Apr. 30, 2021	Jan. 31, 2021	Apr. 30, 2020	Jan. 31, 2020
Property, Plant and Equipment [Abstract]
Accounts receivable, gross	$ 400,010	$ 331,547
Less: Allowance for credit losses	(18,000)	(20,500)	$ (8,300)	$ (5,150)
Less: Allowance for returns	(15,664)	(16,344)
Accounts Receivable, after Allowance for Credit Loss, Total	$ 366,346	$ 294,703

Balance Sheet Components - Rollforward of Allowance For Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 20,500	$ 5,150
Provision for credit losses	1,028	3,771
Write-offs	(3,528)	(621)
Ending balance	$ 18,000	$ 8,300

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Apr. 30, 2021	Jan. 31, 2021
Balance Sheet Components [Abstract]
Prepaid expenses	$ 73,992	$ 60,702
Restricted cash from international employee stock sales	40,548	50,475
Other receivables	19,265	4,107
Other	2,521	1,535
Prepaid expenses and other current assets	$ 136,326	$ 116,819

Balance Sheet Components - Schedule of Property and Equipment Net (Details) - USD ($) $ in Thousands	Apr. 30, 2021	Jan. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 250,201	$ 201,879
Less: accumulated depreciation and amortization	(57,791)	(51,955)
Property and equipment, net	192,410	149,924
Computer and office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	178,923	137,445
Software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	42,493	36,216
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	24,223	23,593
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,562	$ 4,625

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Balance Sheet Components [Abstract]
Depreciation and amortization expense	$ 10.5	$ 5.3

Balance Sheet Components - Other Noncurrent Assets (Details) - USD ($) $ in Thousands	Apr. 30, 2021	Jan. 31, 2021
Balance Sheet Components [Abstract]
Accounts receivable, noncurrent	$ 26,981	$ 28,008
Equity investment	13,538	13,538
Prepaid expenses, noncurrent	12,568	12,386
Convertible notes	11,682	5,130
Indefinite-lived intangible assets	8,002	8,002
Intangible assets subject to amortization, net	2,653	2,814
Other	6,466	6,075
Other assets, noncurrent	$ 81,890	$ 75,953

Balance Sheet Components - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Apr. 30, 2021	Jan. 31, 2021
Balance Sheet Components [Abstract]
Accrued expenses	$ 215,466	$ 157,167
Accrued compensation and benefits	117,348	118,640
Proceeds from employee equity transactions to be remitted to employees and tax authorities	44,190	54,174
Sales and other tax liabilities	37,321	27,453
Operating lease liabilities, current	16,476	15,601
Customer deposit liabilities	13,046	13,050
Other	6,831	6,933
Accrued expenses and other current liabilities	$ 450,678	$ 393,018

Balance Sheet Components - Schedule of Other Liabilities Non Current (Details) - USD ($) $ in Thousands	Apr. 30, 2021	Jan. 31, 2021
Balance Sheet Components [Abstract]
Sales and other tax liabilities	$ 52,457	$ 58,133
Other	3,563	3,501
Other liabilities, noncurrent	$ 56,020	$ 61,634

Commitments and Contingencies (Details) $ in Millions				3 Months Ended
Commitments and Contingencies (Details) $ in Millions	Jul. 30, 2020 officer	Jun. 11, 2020 officer	Apr. 08, 2020 officer	Apr. 30, 2021 USD ($)
Violation Of Securities Act Section 10(b), 20(a), and Rule 10b-5
Other Commitments [Line Items]
Loss contingency, number of defendants \| officer	8	9	2
U.S. Privacy Class Actions
Other Commitments [Line Items]
Aggregate legal settlement charge \| $				$ 66.9

Stockholders’ Equity and Equity Incentive Plans - Additional Information (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Apr. 30, 2021 USD ($) plan $ / shares shares	Jan. 31, 2021 $ / shares shares	Apr. 30, 2019 $ / shares shares
Class of Stock [Line Items]
Common stock, par value (in dollars per share) \| $ / shares	$ 0.001	$ 0.001
Number of equity incentive plans \| plan	2
Stock options
Class of Stock [Line Items]
Unrecognized stock-based compensation expenses related to outstanding unvested stock options \| $	$ 39.6
Unrecognized stock-based compensation excepted to be recognized over a weighted-average period	1 year 3 months 18 days
RSUs
Class of Stock [Line Items]
Unrecognized stock-based compensation excepted to be recognized over a weighted-average period	2 years 6 months
Unrecognized stock-based compensation expenses \| $	$ 772.9
Employee Stock Purchase Plan
Class of Stock [Line Items]
Unrecognized stock-based compensation excepted to be recognized over a weighted-average period	1 month 6 days
Unrecognized stock-based compensation expenses \| $	$ 10.2
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
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
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 Plans - Summary of Stock Option Activity Under Equity Incentive Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 30, 2021	Jan. 31, 2021
Outstanding Stock Options
Beginning balance (in shares)	9,239,504
Granted (in shares)	0
Exercised (in shares)	(751,686)
Cancelled/forfeited/expired (in shares)	(66,838)
Ending balance (in shares)	8,420,980	9,239,504
Weighted- Average Exercise Price
Beginning balance (in dollars per share)	$ 7.17
Granted (in dollars per share)	0
Exercised (in dollars per share)	4.48
Cancelled/forfeited/expired (in dollars per share)	5.05
Ending balance (in dollars per share)	$ 7.43	$ 7.17
Weighted- Average Remaining Contractual Life (Years)	6 years 9 months 18 days	7 years
Options outstanding, aggregate intrinsic value	$ 2,628,512	$ 3,371,457
Outstanding stock options, vested and exercisable (in shares)	4,853,741
Weighted average exercise price, vested and exercisable (in dollars per share)	$ 4.39
Weighted-average remaining contractual life (years), vested and exercisable	6 years 4 months 24 days
Options outstanding, aggregate intrinsic value, vested and exercisable	$ 1,529,787

Stockholders’ Equity and Equity Incentive Plans - Summary of Restricted Stock Units Activity Under Equity Incentive Plan (Details) - RSUs	3 Months Ended
	Apr. 30, 2021 $ / 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 shares) \| shares	4,510,730
Granted (in shares) \| shares	361,404
Vested (in shares) \| shares	(211,036)
Cancelled/forfeited (in shares) \| shares	(40,793)
Ending balance (in shares) \| shares	4,620,305
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 share) \| $ / shares	$ 194.57
Granted (in dollars per share) \| $ / shares	334.88
Vested (in dollars per share) \| $ / shares	103.91
Cancelled/forfeited (in dollars per share) \| $ / shares	260.68
Ending balance (in dollars per share) \| $ / shares	$ 209.10

Stockholders’ Equity and Equity Incentive Plans - Summary of Stock-based Compensation Expense by Line Item (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2021	Apr. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 98,969	$ 28,777
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	14,066	3,249
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	20,819	5,224
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	51,812	17,123
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 12,272	$ 3,181

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Apr. 30, 2021	Apr. 30, 2020
Income Tax Disclosure [Abstract]
Income before provision for income taxes	$ 228,931	$ 29,175
Provision for income taxes	$ 1,400	$ 2,100
Effective tax rate	0.60%	7.20%

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

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, 2021	Apr. 30, 2020
Numerator:
Net income	$ 227,531	$ 27,075
Net income attributable to common stockholders	$ 227,383	$ 27,036
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares)	293,794,778	279,891,111
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares)	305,412,419	295,184,958
Net income per share attributable to common stockholders, basic (in dollars per share)	$ 0.77	$ 0.10
Net income per share attributable to common stockholders, diluted (in dollars per share)	$ 0.74	$ 0.09
Class A Common Stock
Numerator:
Net income	$ 177,405	$ 14,007
Less: undistributed earnings attributable to participating securities	0	0
Net income attributable to common stockholders	177,405	14,007
Reallocation of net income attributable to common stockholders	(4,308)	(591)
Net income (loss) attributable to common stockholders, diluted	$ 173,097	$ 13,416
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares)	229,220,253	145,004,142
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares)	232,497,872	146,472,265
Net income per share attributable to common stockholders, basic (in dollars per share)	$ 0.77	$ 0.10
Net income per share attributable to common stockholders, diluted (in dollars per share)	$ 0.74	$ 0.09
Class B Common Stock
Numerator:
Net income	$ 50,126	$ 13,068
Less: undistributed earnings attributable to participating securities	(148)	(39)
Net income attributable to common stockholders	49,978	13,029
Reallocation of net income attributable to common stockholders	4,308	591
Net income (loss) attributable to common stockholders, diluted	$ 54,286	$ 13,620
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares)	64,574,525	134,886,969
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares)	72,914,547	148,712,693
Net income per share attributable to common stockholders, basic (in dollars per share)	$ 0.77	$ 0.10
Net income per share attributable to common stockholders, diluted (in dollars per share)	$ 0.74	$ 0.09

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, 2021	Apr. 30, 2020
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 (in shares)	300,876	247,775
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 (in shares)	0	0
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 (in shares)	279,046	41,999
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 (in shares)	0	0
Purchase rights committed under the ESPP \| 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 (in shares)	21,830	0
Purchase rights committed under the ESPP \| 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 (in shares)	0	0
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 (in shares)	0	205,776
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 (in shares)	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 (in shares)	405,156	493,156

Subsequent Events (Details) $ in Millions	1 Months Ended
Subsequent Events (Details) $ in Millions	Jun. 30, 2021 USD ($)
Subsequent Event
Subsequent Event [Line Items]
Amount of ordinary shares purchased	$ 75.0

Label	Element	Value
Restricted Cash and Cash Equivalents, Current	us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue	$ 40,648,000
Restricted Cash and Cash Equivalents, Current	us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue	267,191,000
Restricted Cash and Cash Equivalents, Noncurrent	us-gaap_RestrictedCashAndCashEquivalentsNoncurrent	2,243,000
Restricted Cash and Cash Equivalents, Noncurrent	us-gaap_RestrictedCashAndCashEquivalentsNoncurrent	$ 2,295,000