Income Taxes (Tables)

12 Months Ended

Jan. 31, 2022

Income Tax Disclosure [Abstract]

Summary of Domestic and Foreign Components of Loss Before Provision for (Benefit from) Income Taxes

The following table presents the domestic and foreign components of loss before benefit from income taxes for the periods presented (in thousands):

	For the year ended January 31,
	2022		2021		2020
United States	$	(380,337)	$	(243,435)	$	(106,743)
Foreign	8,629		(1,068)		4,976
Loss before benefit from income taxes	$	(371,708)	$	(244,503)	$	(101,767)

Summary of Provision for (Benefit from) Income Taxes

The benefit from income taxes is composed of the following (in thousands):

	For the year ended January 31,
	2022		2021		2020
Current income taxes:
State	$	615	$	216	$	126
Foreign	11,178		2,891		2,246
Total current income taxes	11,793		3,107		2,372
Deferred income taxes:
Federal	(8,727)		(52,715)		(10,125)
State	348		(7,991)		(1,510)
Foreign	(6,016)		(6,787)		(1,672)
Total deferred income taxes	(14,395)		(67,493)		(13,307)
Total benefit from income taxes	$	(2,602)	$	(64,386)	$	(10,935)

Summary of Differences Between Effective Tax Rate and Federal Statutory Rate

The effective tax rate differs from the federal statutory rate as follows:

	For the year ended January 31,
	2022		2021		2020
Federal statutory income tax rate	21.0	%	21.0	%	21.0	%
State tax, net of federal benefit	3.8		3.4		3.2
Change in valuation allowance	(33.8)		(48.9)		(107.1)
Stock-based compensation	12.3		45.2		90.3
Other non-deductible items	(3.8)		(0.1)		0.8
Foreign rate differential	(0.6)		1.9		(1.4)
Tax credits	1.8		3.8		3.9
Total	0.7	%	26.3	%	10.7	%

Summary of Significant Components of Company's Deferred Tax Assets and Liabilities

The following table presents the significant components of the Company’s deferred tax assets and liabilities for the periods presented (in thousands):

	As of January 31,
	2022		2021
Deferred tax assets:
Net operating loss carryforwards	$	488,163	$	412,850
Accruals and reserves	15,773		9,209
Lease liabilities	11,177		11,217
Stock-based compensation	10,650		8,994
Tax credits	29,858		23,116
Gross deferred tax assets	555,621		465,386
Valuation allowance	(305,271)		(177,918)
Total deferred tax assets, net of valuation allowance	250,350		287,468
Deferred tax liabilities:
Fixed assets and intangibles assets	(121,854)		(146,441)
Accruals and reserves	(1,466)		(1,874)
Right-of-use assets	(10,867)		(10,743)
Discount on convertible notes	(132,657)		(158,438)
Gross deferred tax liabilities	(266,844)		(317,496)
Net deferred tax (liabilities) assets	$	(16,494)	$	(30,028)

Summary of Activity Related to Unrecognized Tax Benefits

The following table summarizes the activity related to unrecognized tax benefits (in thousands):

	For the year ended January 31,
	2022		2021		2020
Unrecognized tax benefit — beginning of year	$	20,592	$	14,864	$	20,077
Gross increases — prior year tax positions	1,806		52		620
Gross decreases — prior year tax positions	—		(160)		(11,538)
Gross increases — acquisitions	—		3,282		4,174
Gross increases — current year tax positions	3,715		2,586		1,531
Foreign currency remeasurement	(679)		—		—
Settlements	—		(32)		—
Unrecognized tax benefit — end of year	$	25,434	$	20,592	$	14,864