Revenue

3 Months Ended

Apr. 30, 2021

Revenue From Contract With Customer [Abstract]

Revenue

Note 2. Revenue

Contract Assets

Contract assets, which are presented within accounts receivable, were not material as of April 30, 2021 and January 31, 2021.

Deferred Revenue

Deferred revenue was $423.2 million and $465.6 million as of April 30, 2021 and January 31, 2021, respectively. During the three months ended April 30, 2021 and 2020, we recognized $167.4 million and $154.4 million of revenue that was included in the deferred revenue balance as of January 31, 2021 and 2020, respectively.

Transaction Price Allocated to the Remaining Performance Obligations

As of April 30, 2021, we had remaining performance obligations for subscription contracts of $864.8 million. We expect to recognize revenue on 62% 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.