Revenue

6 Months Ended

Jul. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue

Note 2. Revenue

Deferred Revenue

Deferred revenue was $502.1 million and $586.9 million as of July 31, 2024 and January 31, 2024, respectively. During the three months ended July 31, 2024 and 2023, we recognized $222.5 million and $219.1 million of revenue that was included in the deferred revenue balance as of April 30, 2024 and 2023, respectively. During the six months ended July 31, 2024 and 2023, we recognized $397.5 million and $379.8 million of revenue that was included in the deferred revenue balance as of January 31, 2024 and 2023, respectively.

Transaction Price Allocated to the Remaining Performance Obligations

As of July 31, 2024, we had remaining performance obligations from contracts with customers of $1.3 billion. We expect to recognize revenue on 57% of these remaining performance obligations over the next 12 months, with the substantial majority of the remaining balance expected to be recognized within 24 months.