00015353791/312022Q2FALSE0.166700015353792021-02-012021-07-31xbrli:shares00015353792021-08-31iso4217:USD00015353792021-07-3100015353792021-01-310001535379cldr:DeferredRevenueMember2021-07-310001535379cldr:DeferredRevenueMember2021-01-31iso4217:USDxbrli:shares0001535379us-gaap:LicenseMember2021-05-012021-07-310001535379us-gaap:LicenseMember2020-05-012020-07-310001535379us-gaap:LicenseMember2021-02-012021-07-310001535379us-gaap:LicenseMember2020-02-012020-07-310001535379us-gaap:ServiceMember2021-05-012021-07-310001535379us-gaap:ServiceMember2020-05-012020-07-310001535379us-gaap:ServiceMember2021-02-012021-07-310001535379us-gaap:ServiceMember2020-02-012020-07-3100015353792021-05-012021-07-3100015353792020-05-012020-07-3100015353792020-02-012020-07-310001535379us-gaap:ResearchAndDevelopmentExpenseMember2021-05-012021-07-310001535379us-gaap:ResearchAndDevelopmentExpenseMember2020-05-012020-07-310001535379us-gaap:ResearchAndDevelopmentExpenseMember2021-02-012021-07-310001535379us-gaap:ResearchAndDevelopmentExpenseMember2020-02-012020-07-310001535379us-gaap:SellingAndMarketingExpenseMember2021-05-012021-07-310001535379us-gaap:SellingAndMarketingExpenseMember2020-05-012020-07-310001535379us-gaap:SellingAndMarketingExpenseMember2021-02-012021-07-310001535379us-gaap:SellingAndMarketingExpenseMember2020-02-012020-07-310001535379us-gaap:GeneralAndAdministrativeExpenseMember2021-05-012021-07-310001535379us-gaap:GeneralAndAdministrativeExpenseMember2020-05-012020-07-310001535379us-gaap:GeneralAndAdministrativeExpenseMember2021-02-012021-07-310001535379us-gaap:GeneralAndAdministrativeExpenseMember2020-02-012020-07-310001535379us-gaap:CommonStockMember2021-04-300001535379us-gaap:AdditionalPaidInCapitalMember2021-04-300001535379us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-300001535379us-gaap:RetainedEarningsMember2021-04-3000015353792021-04-300001535379us-gaap:CommonStockMember2021-05-012021-07-310001535379us-gaap:AdditionalPaidInCapitalMember2021-05-012021-07-310001535379us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-05-012021-07-310001535379us-gaap:RetainedEarningsMember2021-05-012021-07-310001535379us-gaap:CommonStockMember2021-07-310001535379us-gaap:AdditionalPaidInCapitalMember2021-07-310001535379us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-310001535379us-gaap:RetainedEarningsMember2021-07-310001535379us-gaap:CommonStockMember2020-04-300001535379us-gaap:AdditionalPaidInCapitalMember2020-04-300001535379us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-04-300001535379us-gaap:RetainedEarningsMember2020-04-3000015353792020-04-300001535379us-gaap:CommonStockMember2020-05-012020-07-310001535379us-gaap:AdditionalPaidInCapitalMember2020-05-012020-07-310001535379us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-05-012020-07-310001535379us-gaap:RetainedEarningsMember2020-05-012020-07-310001535379us-gaap:CommonStockMember2020-07-310001535379us-gaap:AdditionalPaidInCapitalMember2020-07-310001535379us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-310001535379us-gaap:RetainedEarningsMember2020-07-3100015353792020-07-310001535379us-gaap:CommonStockMember2021-01-310001535379us-gaap:AdditionalPaidInCapitalMember2021-01-310001535379us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-310001535379us-gaap:RetainedEarningsMember2021-01-310001535379us-gaap:CommonStockMember2021-02-012021-07-310001535379us-gaap:AdditionalPaidInCapitalMember2021-02-012021-07-310001535379us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-02-012021-07-310001535379us-gaap:RetainedEarningsMember2021-02-012021-07-310001535379us-gaap:CommonStockMember2020-01-310001535379us-gaap:AdditionalPaidInCapitalMember2020-01-310001535379us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-310001535379us-gaap:RetainedEarningsMember2020-01-3100015353792020-01-310001535379us-gaap:CommonStockMember2020-02-012020-07-310001535379us-gaap:AdditionalPaidInCapitalMember2020-02-012020-07-310001535379us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-02-012020-07-310001535379srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2020-01-310001535379srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-01-310001535379us-gaap:RetainedEarningsMember2020-02-012020-07-3100015353792021-06-010001535379cldr:SkyParentIncMembercldr:ClouderaIncMergerWithProjectSkyMergerSubIncMembersrt:ScenarioForecastMember2021-12-310001535379cldr:SkyParentIncMembercldr:ClouderaIncMergerWithProjectSkyMergerSubIncMembersrt:ScenarioForecastMember2021-07-012021-12-310001535379cldr:ClouderaIncMergerWithProjectSkyMergerSubIncMember2021-02-012021-07-310001535379cldr:ClouderaIncMergerWithProjectSkyMergerSubIncMember2021-05-012021-07-31cldr:segmentcldr:customer00015353792021-02-012021-04-3000015353792021-08-012021-07-3100015353792022-08-012021-07-31xbrli:pure0001535379cldr:DatacoralIncMember2021-06-300001535379cldr:CazenaIncMember2021-06-300001535379cldr:CazenaIncAndDatacoralIncMember2021-06-012021-06-300001535379cldr:CazenaIncAndDatacoralIncMember2021-06-300001535379srt:MinimumMember2021-06-012021-06-300001535379srt:MaximumMember2021-06-012021-06-300001535379us-gaap:MoneyMarketFundsMember2021-07-310001535379us-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-07-310001535379us-gaap:CorporateDebtSecuritiesMember2021-07-310001535379us-gaap:CommercialPaperMember2021-07-310001535379us-gaap:MunicipalBondsMember2021-07-310001535379us-gaap:CertificatesOfDepositMember2021-07-310001535379us-gaap:USTreasurySecuritiesMember2021-07-310001535379us-gaap:MoneyMarketFundsMember2021-01-310001535379us-gaap:CertificatesOfDepositMember2021-01-310001535379us-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-01-310001535379us-gaap:AssetBackedSecuritiesMember2021-01-310001535379us-gaap:CorporateDebtSecuritiesMember2021-01-310001535379us-gaap:CommercialPaperMember2021-01-310001535379us-gaap:MunicipalBondsMember2021-01-310001535379us-gaap:CertificatesOfDepositMember2021-01-310001535379us-gaap:USTreasurySecuritiesMember2021-01-310001535379us-gaap:FairValueInputsLevel1Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-07-310001535379us-gaap:FairValueInputsLevel2Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-07-310001535379us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-07-310001535379us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-07-310001535379us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-07-310001535379us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-07-310001535379us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-07-310001535379us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-07-310001535379us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-07-310001535379us-gaap:FairValueInputsLevel1Memberus-gaap:CommercialPaperNotIncludedWithCashAndCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-07-310001535379us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialPaperNotIncludedWithCashAndCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-07-310001535379us-gaap:CommercialPaperNotIncludedWithCashAndCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-07-310001535379us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MunicipalBondsMember2021-07-310001535379us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MunicipalBondsMember2021-07-310001535379us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MunicipalBondsMember2021-07-310001535379us-gaap:FairValueInputsLevel1Memberus-gaap:CertificatesOfDepositMemberus-gaap:FairValueMeasurementsRecurringMember2021-07-310001535379us-gaap:FairValueInputsLevel2Memberus-gaap:CertificatesOfDepositMemberus-gaap:FairValueMeasurementsRecurringMember2021-07-310001535379us-gaap:CertificatesOfDepositMemberus-gaap:FairValueMeasurementsRecurringMember2021-07-310001535379us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2021-07-310001535379us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2021-07-310001535379us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2021-07-310001535379us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-07-310001535379us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-07-310001535379us-gaap:FairValueMeasurementsRecurringMember2021-07-310001535379us-gaap:FairValueInputsLevel1Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-01-310001535379us-gaap:FairValueInputsLevel2Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-01-310001535379us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-01-310001535379us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-01-310001535379us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-01-310001535379us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-01-310001535379us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2021-01-310001535379us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2021-01-310001535379us-gaap:FairValueMeasurementsRecurringMemberus-gaap:AssetBackedSecuritiesMember2021-01-310001535379us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-01-310001535379us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-01-310001535379us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-01-310001535379us-gaap:FairValueInputsLevel1Memberus-gaap:CommercialPaperNotIncludedWithCashAndCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-01-310001535379us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialPaperNotIncludedWithCashAndCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-01-310001535379us-gaap:CommercialPaperNotIncludedWithCashAndCashEquivalentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-01-310001535379us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MunicipalBondsMember2021-01-310001535379us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MunicipalBondsMember2021-01-310001535379us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MunicipalBondsMember2021-01-310001535379us-gaap:FairValueInputsLevel1Memberus-gaap:CertificatesOfDepositMemberus-gaap:FairValueMeasurementsRecurringMember2021-01-310001535379us-gaap:FairValueInputsLevel2Memberus-gaap:CertificatesOfDepositMemberus-gaap:FairValueMeasurementsRecurringMember2021-01-310001535379us-gaap:CertificatesOfDepositMemberus-gaap:FairValueMeasurementsRecurringMember2021-01-310001535379us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2021-01-310001535379us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2021-01-310001535379us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USTreasurySecuritiesMember2021-01-310001535379us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-01-310001535379us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-01-310001535379us-gaap:FairValueMeasurementsRecurringMember2021-01-310001535379us-gaap:DevelopedTechnologyRightsMember2021-07-310001535379us-gaap:DevelopedTechnologyRightsMember2021-02-012021-07-310001535379us-gaap:CustomerRelationshipsMember2021-07-310001535379us-gaap:CustomerRelationshipsMember2021-02-012021-07-310001535379us-gaap:DevelopedTechnologyRightsMember2021-01-310001535379us-gaap:DevelopedTechnologyRightsMember2020-02-012021-01-310001535379us-gaap:CustomerRelationshipsMember2021-01-310001535379us-gaap:CustomerRelationshipsMember2020-02-012021-01-310001535379us-gaap:ContractBasedIntangibleAssetsMember2021-01-3100015353792020-02-012021-01-310001535379us-gaap:OtherOperatingIncomeExpenseMember2020-05-012020-07-310001535379us-gaap:OtherOperatingIncomeExpenseMember2021-02-012021-07-310001535379us-gaap:NondesignatedMemberus-gaap:ForeignExchangeForwardMember2021-07-310001535379us-gaap:NondesignatedMemberus-gaap:ForeignExchangeForwardMember2021-01-310001535379us-gaap:ComputerEquipmentMember2021-07-310001535379us-gaap:ComputerEquipmentMember2021-01-310001535379us-gaap:FurnitureAndFixturesMember2021-07-310001535379us-gaap:FurnitureAndFixturesMember2021-01-310001535379us-gaap:LeaseholdImprovementsMember2021-07-310001535379us-gaap:LeaseholdImprovementsMember2021-01-310001535379cldr:TermLoanBMemberus-gaap:SecuredDebtMember2020-12-220001535379cldr:TermLoanBMemberus-gaap:SecuredDebtMemberus-gaap:EurodollarMember2020-12-222020-12-220001535379cldr:TermLoanBMemberus-gaap:SecuredDebtMemberus-gaap:BaseRateMember2020-12-222020-12-220001535379cldr:TermLoanBMemberus-gaap:SecuredDebtMembersrt:MinimumMember2020-12-222020-12-220001535379cldr:TermLoanBMemberus-gaap:SecuredDebtMember2021-07-310001535379cldr:TermLoanBMemberus-gaap:SecuredDebtMember2021-05-012021-07-310001535379cldr:TermLoanBMemberus-gaap:SecuredDebtMember2021-02-012021-07-31cldr:defendant0001535379cldr:InReClouderaIncSecuritiesLitigationMember2020-09-222020-09-22cldr:directorOrOfficer0001535379cldr:InReClouderaIncSecuritiesLitigationMember2020-09-22cldr:plantiff0001535379cldr:InReClouderaIncSecuritiesLitigationMember2021-04-022021-04-020001535379cldr:LazardVClouderaIncMember2019-06-070001535379cldr:LeeEtAlVColeEtAlMember2019-07-300001535379cldr:SlatteryVReillyEtAlMember2019-09-050001535379cldr:FrentzelVBeardenEtAlMember2019-10-16cldr:derivativeAction00015353792019-10-160001535379cldr:ChenVReillyEtAlMember2019-09-03cldr:stockholder0001535379us-gaap:SubsequentEventMember2021-07-092021-08-110001535379us-gaap:SubsequentEventMember2021-08-202021-08-24cldr:plan0001535379cldr:EquityIncentivePlan2017Member2021-02-012021-07-310001535379cldr:EquityIncentivePlan2017Member2021-02-012021-02-010001535379cldr:EquityIncentivePlan2017Member2021-07-310001535379us-gaap:RestrictedStockUnitsRSUMember2021-01-310001535379us-gaap:RestrictedStockUnitsRSUMember2021-02-012021-07-310001535379us-gaap:RestrictedStockUnitsRSUMember2021-07-310001535379cldr:PerformanceRestrictedStockUnitsMember2021-02-012021-07-310001535379cldr:PerformanceRestrictedStockUnitsMember2021-07-310001535379cldr:EmployeeStockPurchasePlan2017Member2017-03-012017-03-310001535379cldr:EmployeeStockPurchasePlan2017Member2017-03-31cldr:annualShareIncrease0001535379cldr:EmployeeStockPurchasePlan2017Member2021-02-012021-02-010001535379cldr:EmployeeStockPurchasePlan2017Member2021-07-310001535379us-gaap:PerformanceSharesMember2021-02-012021-02-280001535379cldr:SubscriptionSegmentMember2021-05-012021-07-310001535379cldr:SubscriptionSegmentMember2020-05-012020-07-310001535379cldr:SubscriptionSegmentMember2021-02-012021-07-310001535379cldr:SubscriptionSegmentMember2020-02-012020-07-310001535379cldr:ServicesSegmentMember2021-05-012021-07-310001535379cldr:ServicesSegmentMember2020-05-012020-07-310001535379cldr:ServicesSegmentMember2021-02-012021-07-310001535379cldr:ServicesSegmentMember2020-02-012020-07-310001535379us-gaap:OperatingSegmentsMember2021-05-012021-07-310001535379us-gaap:OperatingSegmentsMember2020-05-012020-07-310001535379us-gaap:OperatingSegmentsMember2021-02-012021-07-310001535379us-gaap:OperatingSegmentsMember2020-02-012020-07-310001535379us-gaap:CorporateNonSegmentMember2021-05-012021-07-310001535379us-gaap:CorporateNonSegmentMember2020-05-012020-07-310001535379us-gaap:CorporateNonSegmentMember2021-02-012021-07-310001535379us-gaap:CorporateNonSegmentMember2020-02-012020-07-310001535379us-gaap:RevenueFromContractWithCustomerMemberus-gaap:NonUsMemberus-gaap:GeographicConcentrationRiskMember2021-05-012021-07-310001535379us-gaap:RevenueFromContractWithCustomerMemberus-gaap:NonUsMemberus-gaap:GeographicConcentrationRiskMember2020-05-012020-07-310001535379us-gaap:RevenueFromContractWithCustomerMemberus-gaap:NonUsMemberus-gaap:GeographicConcentrationRiskMember2021-02-012021-07-310001535379us-gaap:RevenueFromContractWithCustomerMemberus-gaap:NonUsMemberus-gaap:GeographicConcentrationRiskMember2020-02-012020-07-310001535379us-gaap:NonUsMemberus-gaap:GeographicConcentrationRiskMemberus-gaap:PropertyPlantAndEquipmentMember2021-07-312021-07-310001535379us-gaap:NonUsMemberus-gaap:GeographicConcentrationRiskMemberus-gaap:PropertyPlantAndEquipmentMember2021-01-312021-01-310001535379us-gaap:EmployeeStockOptionMember2021-02-012021-07-310001535379us-gaap:EmployeeStockOptionMember2020-02-012020-07-310001535379us-gaap:RestrictedStockUnitsRSUMember2021-02-012021-07-310001535379us-gaap:RestrictedStockUnitsRSUMember2020-02-012020-07-310001535379us-gaap:EmployeeStockMember2021-02-012021-07-310001535379us-gaap:EmployeeStockMember2020-02-012020-07-310001535379us-gaap:SubsequentEventMembercldr:ChiefProductOfficerMember2021-08-302021-08-30

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________________________
FORM 10-Q 
_______________________________________________
(Mark One)
☒    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended July 31, 2021
or
☐    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from________to________
Commission File Number 001-38069
CLOUDERA, INC.
(Exact name of registrant as specified in its charter)
Delaware26-2922329
(State or other jurisdiction of incorporation or organization)(I.R.S. employer identification no.)
_______________________________________________
5470 Great America Parkway
Santa Clara, CA 95054
(650) 362-0488
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
_______________________________________________

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.00005 par valueCLDRThe New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨ 
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  x    No   ¨  
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.:
Large accelerated filer
☒

Accelerated filer ☐
Non-accelerated filer
☐

Smaller reporting company ☐
Emerging growth company☐
If an emerging growth company, indicate by checkmark if the registrant has not elected to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act☐
Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act).    Yes   ☐   No  ☒
As of August 31, 2021, there were 296,216,908 shares of the registrant’s common stock outstanding.

Table of Contents
TABLE OF CONTENTS
Page
Part I. Financial Information
Item 1.
Item 2.
Item 3.
Item 4.
Part II. Other Information
Item 1.
Item 1A.
Item 2.
Item 6.

Table of Contents

PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
CLOUDERA, INC.
Condensed Consolidated Balance Sheets
(in thousands, except share data)
July 31, 2021January 31, 2021
(unaudited)
ASSETS
Current assets:
Cash and cash equivalents
$134,075 $298,672 
Marketable securities
302,989 297,721 
Accounts receivable, net
177,823 316,098 
Deferred contract costs
49,347 53,048 
Prepaid expenses and other current assets
29,907 32,382 
Total current assets
694,141 997,921 
Property and equipment, net
15,925 18,065 
Marketable securities, non-current
355,684 173,281 
Intangible assets, net
537,995 532,630 
Goodwill
620,724 599,291 
Deferred contract costs, non-current
24,112 31,170 
Operating lease right-of-use assets
131,668 146,424 
Other assets
10,498 9,819 
TOTAL ASSETS
$2,390,747 $2,508,601 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable
$1,969 $2,713 
Accrued compensation
56,463 56,643 
Other accrued liabilities
30,331 30,196 
Operating lease liabilities
23,152 19,574 
Contract liabilities
475,853 553,983 
Total current liabilities
587,768 663,109 
Long-term debt485,273 487,089 
Operating lease liabilities, non-current
155,446 169,296 
Contract liabilities, non-current
44,761 54,414 
Other accrued liabilities, non-current
5,350 6,763 
TOTAL LIABILITIES
1,278,598 1,380,671 
STOCKHOLDERS’ EQUITY:
Preferred stock, $0.00005 par value; 20,000,000 shares authorized, no shares issued and outstanding as of July 31, 2021 and January 31, 2021
— — 
Common stock $0.00005 par value; 1,200,000,000 shares authorized as of July 31, 2021 and January 31, 2021; 296,212,583 and 291,220,735 shares issued and outstanding as of July 31, 2021 and January 31, 2021, respectively
15 15 
Additional paid-in capital
2,835,956 2,776,690 
Accumulated other comprehensive (loss) income
(861)580 
Accumulated deficit
(1,722,961)(1,649,355)
TOTAL STOCKHOLDERS’ EQUITY
1,112,149 1,127,930 
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
$2,390,747 $2,508,601 

See accompanying notes to condensed consolidated financial statements.
1
Table of Contents
CLOUDERA, INC.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)

Three Months Ended July 31,Six Months Ended July 31,
2021202020212020
Revenue:
Subscription
$213,300 $191,522 $413,956 $378,607 
Services
22,757 22,814 46,384 46,189 
Total revenue
236,057 214,336 460,340 424,796 
Cost of revenue:(1) (2)
Subscription
25,457 27,929 49,049 56,565 
Services
19,516 21,710 39,042 47,315 
Total cost of revenue
44,973 49,639 88,091 103,880 
Gross profit
191,084 164,697 372,249 320,916 
Operating expenses:(1) (2)
Research and development
70,785 62,304 136,610 126,520 
Sales and marketing
110,257 105,760 218,085 218,895 
General and administrative
42,895 33,167 84,159 67,842 
Total operating expenses
223,937 201,231 438,854 413,257 
Loss from operations
(32,853)(36,534)(66,605)(92,341)
Interest (expense) income, net
(3,621)1,444 (7,104)3,685 
Other income (expense), net
26 980 (674)(1,517)
Loss before provision for income taxes
(36,448)(34,110)(74,383)(90,173)
Benefit (provision) for income taxes
3,243 (1,887)777 (3,838)
Net loss
$(33,205)$(35,997)$(73,606)$(94,011)
Net loss per share, basic and diluted
$(0.11)$(0.12)$(0.25)$(0.32)
Weighted-average shares used in computing net loss per share, basic and diluted
294,330 300,103 293,447 297,724 

(1) Amounts include stock-based compensation expense as follows (in thousands):
Three Months Ended July 31,Six Months Ended July 31,
2021202020212020
Cost of revenue – subscription
$4,162 $3,684 $8,454 $7,676 
Cost of revenue – services
2,518 3,004 5,213 6,991 
Research and development
22,506 17,057 43,767 36,881 
Sales and marketing
16,024 14,031 31,879 29,854 
General and administrative
13,339 8,841 27,860 18,653 

(2) Amounts include amortization of acquired intangible assets as follows (in thousands):
Three Months Ended July 31,Six Months Ended July 31,
2021202020212020
Cost of revenue – subscription $2,058 $3,080 $3,081 $6,159 
Sales and marketing 16,725 16,596 33,353 33,193 
See accompanying notes to condensed consolidated financial statements.
2
Table of Contents
CLOUDERA, INC.
Condensed Consolidated Statements of Comprehensive Loss
(in thousands)
(unaudited)
Three Months Ended July 31,Six Months Ended July 31,
2021202020212020
Net loss
$(33,205)$(35,997)$(73,606)$(94,011)
Other comprehensive (loss) income, net of tax:
Foreign currency translation loss
(662)(85)(427)(921)
Unrealized (loss) gain on investments
(352)559 (1,014)1,411 
Total other comprehensive (loss) income, net of tax
(1,014)474 (1,441)490 
Comprehensive loss
$(34,219)$(35,523)$(75,047)$(93,521)

See accompanying notes to condensed consolidated financial statements.
3
Table of Contents
CLOUDERA, INC.
Condensed Consolidated Statements of Stockholders' Equity
(in thousands)
(unaudited)
Three Months Ended July 31, 2021
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income
Accumulated Deficit
Total Stockholders’ Equity
Shares
Amount
Balance as of April 30, 2021
293,062 $15 $2,800,559 $153 $(1,689,756)$1,110,971 
Shares issued under employee stock plans
256 — 1,815 — — 1,815 
Shares issued from restricted stock units vesting
4,487 — — — — — 
Shares issued under employee stock purchase plan
709 — 7,789 — — 7,789 
Repurchases of common stock(847)— (10,143)— — (10,143)
Stock-based compensation expense
— — 58,549 — — 58,549 
Shares withheld related to net settlement of equity awards
(1,454)— (22,613)— — (22,613)
Other comprehensive loss
— — — (1,014)— (1,014)
Net loss
— — — — (33,205)(33,205)
Balance as of July 31, 2021
296,213 $15 $2,835,956 $(861)$(1,722,961)$1,112,149 

Three Months Ended July 31, 2020
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income
Accumulated Deficit
Total Stockholders’ Equity
Shares
Amount
Balance as of April 30, 2020
295,349 $15 $2,937,795 $289 $(1,544,636)$1,393,463 
Shares issued under employee stock plans
7,683 — 25,518 — — 25,518 
Shares issued from restricted stock units vesting
6,244 — — — — — 
Shares issued under employee stock purchase plan
800 — 7,730 — — 7,730 
Stock-based compensation expense
— — 46,617 — — 46,617 
Shares withheld related to net settlement of equity awards
(842)— (9,266)— — (9,266)
Other comprehensive income
— — — 474 — 474 
Net loss
— — — — (35,997)(35,997)
Balance as of July 31, 2020
309,234 $15 $3,008,394 $763 $(1,580,633)$1,428,539 
See accompanying notes to condensed consolidated financial statements.
4
Table of Contents
CLOUDERA, INC.
Condensed Consolidated Statements of Stockholders' Equity
(in thousands)
(unaudited)
Six Months Ended July 31, 2021
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Total Stockholders’ Equity
Shares
Amount
Balance as of January 31, 2021
291,221 $15 $2,776,690 $580 $(1,649,355)$1,127,930 
Shares issued under employee stock plans
626 — 4,062 — — 4,062 
Shares issued from restricted stock units vesting
8,935 — — — — — 
Shares issued under employee stock purchase plan
709 — 7,789 — — 7,789 
Repurchases of common stock(2,389)— (29,088)— — (29,088)
Stock-based compensation expense
— — 117,173 — — 117,173 
Shares withheld related to net settlement of equity awards
(2,889)— (40,670)— — (40,670)
Other comprehensive loss
— — — (1,441)— (1,441)
Net loss
— — — — (73,606)(73,606)
Balance as of July 31, 2021296,213 $15 $2,835,956 $(861)$(1,722,961)$1,112,149 

Six Months Ended July 31, 2020
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Total Stockholders’ Equity
Shares
Amount
Balance as of January 31, 2020
295,168 $15 $2,923,905 $273 $(1,485,824)$1,438,369 
Shares issued under employee stock plans
7,837 — 25,961 — — 25,961 
Shares issued from restricted stock units vesting
12,096 — — — — — 
Shares issued under employee stock purchase plan
800 — 7,730 — — 7,730 
Repurchases of common stock(3,945)— (25,974)— — (25,974)
Stock-based compensation expense
— — 100,055 — — 100,055 
Shares withheld related to net settlement of equity awards
(2,722)— (23,283)— — (23,283)
Other comprehensive income
— — — 490 — 490 
Cumulative effect of accounting change— — — — (798)(798)
Net loss
— — — — (94,011)(94,011)
Balance as of July 31, 2020309,234 $15 $3,008,394 $763 $(1,580,633)$1,428,539 

See accompanying notes to condensed consolidated financial statements.
5
Table of Contents
CLOUDERA, INC.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)

Six Months Ended July 31,
20212020
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss
$(73,606)$(94,011)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization
40,283 44,939 
 Non-cash lease expense21,365 22,692 
Stock-based compensation expense
117,173 100,055 
Amortization of deferred contract costs32,935 33,410 
Other
2,927 5,126 
Changes in assets and liabilities:
Accounts receivable
138,654 100,340 
Prepaid expenses and other assets
2,565 14,628 
Deferred contract costs(22,176)(22,290)
Accounts payable
(247)(830)
Accrued compensation
2,757 (6,646)
Other accrued liabilities
(6,723)(4,279)
Operating lease liabilities
(16,893)(21,206)
Contract liabilities(89,002)(71,123)
Net cash provided by operating activities 150,012 100,805 
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of marketable securities
(478,889)(273,569)
Proceeds from sale of marketable securities
76,450 104,172 
Maturities of marketable securities
210,243 123,710 
Cash used in business combinations, net of cash acquired
(56,427)— 
Capital expenditures
(1,937)(4,430)
Net cash used in investing activities (250,560)(50,117)
CASH FLOWS FROM FINANCING ACTIVITIES
Repurchases of common stock(29,088)(25,974)
Principal repayment of debt(2,500)— 
Taxes paid related to net share settlement of restricted stock units(40,670)(23,283)
Proceeds from employee stock plans
9,191 33,639 
Net cash used in financing activities
(63,067)(15,618)
Effect of exchange rate changes on cash, cash equivalents and restricted cash(982)463 
Net (decrease) increase in cash, cash equivalents and restricted cash(164,597)35,533 
Cash, cash equivalents and restricted cash — Beginning of period302,024 110,990 
Cash, cash equivalents and restricted cash — End of period $137,427 $146,523 
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Purchases of property and equipment, accrued but not yet paid
$6 $127 
Right-of-use assets obtained in exchange for new operating lease liabilities
$2,647 $6,060 



See accompanying notes to condensed consolidated financial statements.
6
Table of Contents
CLOUDERA, INC.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)

As of July 31,
20212020
Reconciliation of cash, cash equivalents and restricted cash as shown in the statement of cash flows
Cash and cash equivalents$134,075 $143,171 
Restricted cash included in Other assets3,352 3,352 
Total cash, cash equivalents and restricted cash$137,427 $146,523 
See accompanying notes to condensed consolidated financial statements.
7
Table of Contents
CLOUDERA, INC.
Notes to Condensed Consolidated Financial Statements
(unaudited)

1. Summary of Business and Significant Accounting Policies
Description of Business
Cloudera, Inc. was incorporated in the state of Delaware on June 27, 2008 and is headquartered in Santa Clara, California. Cloudera is an enterprise data cloud company. We sell software subscriptions and public cloud services for the Cloudera Data Platform (CDP) solution-set and software subscriptions for our traditional on-premises data platforms. Subscriptions include software access rights and technical support. We also provide professional services for the implementation and use of our software subscriptions, machine learning expertise and consultation, training and education services. Our offerings are based predominantly on open source software, utilizing data stored natively in public cloud object stores as well as in various open source data stores. Unless the context requires otherwise, the words “we,” “us,” “our” and “Cloudera” refer to Cloudera, Inc. and its subsidiaries taken as a whole.
Agreement and Plan of Merger
On June 1, 2021, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Sky Parent Inc., a Delaware corporation (“Parent”), and Project Sky Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub”), pursuant to which, subject to the satisfaction or waiver of the conditions set forth therein, Merger Sub will be merged with and into Cloudera, Inc., with Cloudera, Inc. surviving the merger as a wholly-owned subsidiary of Parent (the “Merger”). Parent and Merger Sub are subsidiaries of investment funds advised by Clayton, Dubilier & Rice, LLC (“CD&R”) and Kohlberg Kravis Roberts & Co. L.P. (“KKR”), US-based private equity firms.
Pursuant to the Merger Agreement, at the effective time of the Merger (the “Effective Time”), and as a result of the Merger:
•each share of our common stock, par value $0.00005 per share (“Common Stock”) outstanding immediately prior to the Effective Time (subject to certain exceptions, including for shares of Common Stock owned by stockholders who have not voted in favor of the adoption of the Merger Agreement and have properly exercised appraisal rights in accordance with Section 262 of the General Corporation Law of the State of Delaware) will, at the Effective Time, automatically be converted into the right to receive $16.00 in cash (the “Merger Consideration”), subject to applicable withholding taxes;
•each then-outstanding, vested and unexercised option to purchase Common Stock (each a “Company Option”) shall be cancelled, with the holder of such Company Option becoming entitled to receive, in full satisfaction of the rights of such holder with respect thereto, an amount in cash, less applicable tax withholdings, equal to the product obtained by multiplying (i) the excess of the Merger Consideration over the per share exercise price of such Company Option, by (ii) the number of shares of Common Stock covered by such Company Option immediately prior to the Effective Time;
•each award of restricted stock units granted under any of our equity incentive plans (“Company Restricted Stock Unit Award”) that is outstanding immediately prior to the Effective Time and that vests upon the occurrence of the Effective Time by its terms and without any action by us shall be cancelled, with the holder of such Company Restricted Stock Unit Award becoming entitled to receive, in full satisfaction of the rights of such holder with respect thereto, an amount in cash, less applicable tax withholdings, equal to the product obtained by multiplying (i) the Merger Consideration by (ii) the number of shares of Common Stock covered by such Company Restricted Stock Unit Award immediately prior to the Effective Time; and
•each Company Restricted Stock Unit Award and each performance-based restricted stock unit (“Company Performance Stock Unit Award”), in each case, that is outstanding immediately prior to the Effective Time and that does not vest upon the occurrence of the Effective Time by its terms and without any action by us shall, in each case, be cancelled and be converted into the contractual right to receive a payment in an amount in cash (the “Cash Based Award”) equal to the product obtained by multiplying (i) the Merger Consideration by (ii) the number of shares of Company common stock covered by such Company Restricted Stock Unit Award or Company Performance Stock Unit Award immediately prior to the Effective Time (in the case of any Company Performance Stock Unit Award, based on 100% of the shares of Common Stock underlying such award), which Cash Based Award shall be subject to the terms and conditions applicable to such Cash Based Award (except as otherwise provided in the Merger Agreement), including the time-based vesting conditions and any accelerated vesting provisions applicable to such Company Restricted Stock Unit Award or Company Performance Stock Unit Award.
8
Table of Contents
Our board of directors unanimously approved and declared to be in the best interest of the company and its stockholders, the Merger Agreement and the transactions contemplated thereby, including the Merger, and recommended that our stockholders adopt the Merger Agreement. Our stockholders approved the Merger on August 25, 2021.
The total consideration for the Merger is approximately $5.3 billion. Closing of the deal is subject to customary closing conditions, including antitrust approval. Assuming the satisfaction of the remaining conditions set forth in the Merger Agreement, we expect the Merger to close in the second half of 2021.
The Merger Agreement contains certain termination rights for both the Company and Parent. Upon termination of the Merger Agreement under specified circumstances, including with respect to Cloudera’s entry into an agreement with respect to a Superior Proposal, the board of directors of Cloudera changing its recommendation or if Cloudera breaches its representations, warranties or covenants in a manner that would cause the related closing conditions to not be met, Cloudera will be required to pay Parent a termination fee of approximately $171.7 million.
In addition to the foregoing termination rights, and subject to certain limitations, Cloudera or Parent may terminate the Merger Agreement if the Merger is not consummated by March 1, 2022 (the “Termination Date”).
The foregoing description of the Merger Agreement does not purport to be complete and is qualified in its entirety by reference to the Merger Agreement, which was filed as Exhibit 2.1 to our Current Report on Form 8-K filed on June 1, 2021.
The transaction costs associated with the merger were approximately $4.5 million, which were included in general and administrative expense in our condensed consolidated statement of operations for the three and six months ended July 31, 2021.
Basis of Consolidation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) in the United States and the applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. The condensed consolidated financial statements include the results of Cloudera, Inc. and its wholly owned subsidiaries, which are located in various countries, including the United States, Australia, China, India, Germany, Ireland, The Netherlands, Singapore, Hungary and the United Kingdom. All intercompany balances and transactions have been eliminated upon consolidation. The consolidated balance sheet as of January 31, 2021 has been derived from the audited consolidated financial statements at that date but does not include all of the information and notes required by GAAP for complete financial statements. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The information contained herein reflects all adjustments necessary for a fair presentation of our results of operations, financial position, stockholders’ equity and cash flows. All such adjustments are of a normal, recurring nature. The results of operations for the three and six months ended July 31, 2021 are not necessarily indicative of results to be expected for the full year ending January 31, 2022 or for any other interim periods or for any other future years.
The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended January 31, 2021, filed with the SEC on March 25, 2021. There have been no material changes in our significant accounting policies as described in our Annual Report on Form 10-K for the year ended January 31, 2021.
Our fiscal year ends on January 31. References to fiscal 2022, for example, refer to the fiscal year ending January 31, 2022.
9
Table of Contents
Use of Estimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant items subject to such estimates include the useful lives of property and equipment and intangible assets, allowance for credit losses, stock-based compensation expense, bonus attainment, self-insurance costs incurred, the fair value and useful lives of tangible and intangible assets acquired and liabilities assumed resulting from business combinations, the evaluation for impairment of goodwill, intangible assets and other long-lived assets including operating lease right-of-use assets, the estimated period of benefit for deferred contract costs, estimates related to revenue recognition, such as the assessment of elements in a multi-element arrangement and the value assigned to each element, contingencies, and the incremental borrowing rate used in discounting our lease liabilities. These estimates and assumptions are based on management’s best estimates and judgment. Management regularly evaluates its estimates and assumptions using historical experience and other factors; however, actual results could differ significantly from these estimates.
Segments
We operate as two operating segments – subscription and services. Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker, who is our chief executive officer, in deciding how to allocate resources and assess performance.
Concentrations of Credit Risk and Significant Customers
Financial instruments that subject us to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, restricted cash and accounts receivable. Our cash is deposited with high credit quality financial institutions. At times, such deposits may be in excess of the Federal Depository Insurance Corporation insured limits. We have not experienced any losses on these deposits.
Our trade receivables are recorded at the invoice amount, net of an allowance for credit losses, which is not material. The allowance for credit losses reflects our best estimate of probable losses inherent in the receivable portfolio determined based on various factors including historical experience, credit quality of the customer, current economic conditions and management’s expectations of future economic conditions. Receivables are written-off and charged against the recorded allowance when we have exhausted collection efforts without success.  
We had one customer accounting for more than 10% of accounts receivable at July 31, 2021 and January 31, 2021. For each of the three and six months ended July 31, 2021 and 2020, no single customer accounted for 10% or more of revenue.
Recently Adopted Accounting Standard
We adopted the accounting standard updated (ASU) 2020-08 Codification Improvements to Subtopic 310-20, Receivables – Nonrefundable Fees and Other Costs as of February 1, 2021. The adoption of the accounting standard did not have a material impact on our condensed consolidated financial statements as of and for the three and six months ended July 31, 2021.


10
Table of Contents
2. Revenue from Contracts with Customers
Significant changes in our contract liabilities during the period ended July 31, 2021 are as follows (in thousands):
Contract Liabilities
January 31, 2021$608,397 
Performance obligations satisfied during the period that were included in the contract liability balance at the beginning of the period(188,443)
Increases due to invoicing prior to satisfaction of performance obligations129,055 
April 30, 2021$549,009 
Performance obligations satisfied during the period that were included in the contract liability balance at the beginning of the period(200,148)
Increases due to invoicing prior to satisfaction of performance obligations171,753 
July 31, 2021$520,614 
Remaining Performance Obligations
The transaction price allocated to remaining performance obligations represents contracted revenue that has been billed but not recognized, and unbilled non-cancelable amounts that will be recognized as revenue in future periods. Transaction price allocated to the remaining performance obligation is influenced by several factors, including seasonality, the timing of renewals and average contract terms.
During the three and six months ended July 31, 2021, net revenue recognized from our remaining performance obligations satisfied in previous periods was not material.
As of July 31, 2021, approximately $865.1 million of revenue is expected to be recognized from remaining performance obligations in the amount of approximately $617.4 million over the next 12 months and approximately $247.7 million thereafter.
Contract Assets
Contract assets consist of the right to consideration in exchange for product offerings that we have transferred to a customer when that right is conditional on something other than the passage of time (e.g., performance prior to invoicing on fixed fee service arrangements with substantive acceptance terms). We record unbilled accounts receivable related to revenue recognized in excess of amounts invoiced as we have an unconditional right to invoice and receive payment in the future related to those fulfilled obligations. As of July 31, 2021 and January 31, 2021, contract assets were $2.7 million and $5.0 million, respectively, which are included in prepaid expenses and other current assets.

3. Business Combinations
In June 2021, we acquired 100% voting interest in Cazena, Inc. and Datacoral, Inc. for aggregate cash consideration of $57.8 million. The acquisitions were made to further accelerate innovation in our Cloudera offerings. The purchase consideration of $57.8 million has been preliminarily allocated primarily to intangible assets and goodwill of $41.8 million and $21.4 million, respectively. The intangible assets are being amortized over their respective useful lives ranging from 4 to 5 years. The transaction costs associated with both acquisitions were not material and were included in general and administrative expense in our condensed consolidated statement of operations for the three and six months ended July 31, 2021. The results of operations for both business combinations have been included in our consolidated statements of operations from the acquisition date and were not material.

4. Cash Equivalents and Marketable Securities
The following are the fair values of our cash equivalents and marketable securities as of July 31, 2021 (in thousands):
11
Table of Contents
Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Estimated
Fair Value
Cash equivalents:
Money market funds
$43,237 $— $— $43,237 
Marketable securities:
U.S. agency obligations
46,984 24 (2)47,006 
Corporate notes and obligations
350,890 476 (97)351,269 
Commercial paper
47,062 11 — 47,073 
Municipal securities
85,741 187 (131)85,797 
Certificates of deposit
95,503 37 (7)95,533 
U.S. treasury securities
31,982 13 — 31,995 
Total cash equivalents and marketable securities
$701,399 $748 $(237)$701,910 

The following are the fair values of our cash equivalents and marketable securities as of January 31, 2021 (in thousands):
Amortized
Cost
Unrealized
Gains
Unrealized
Losses
Estimated
Fair Value
Cash equivalents:
Money market funds
$186,127 $— $— $186,127 
Certificates of deposit
4,000 — — 4,000 
Marketable securities:
U.S. agency obligations
68,972 76 (4)69,044 
Asset-backed securities
2,901 2 — 2,903 
Corporate notes and obligations
210,321 1,215 (72)211,464 
Commercial paper
48,212 19 (6)48,225 
Municipal securities
40,031 213 (5)40,239 
Certificates of deposit
60,749 53 — 60,802 
U.S. treasury securities
38,291 34 — 38,325 
Total cash equivalents and marketable securities
$659,604 $1,612 $(87)$661,129 
The contractual maturities of investments in available-for-sale securities were as follows (in thousands):
July 31, 2021January 31, 2021
Amortized CostEstimated Fair ValueAmortized CostEstimated Fair Value
Due within one year$346,010 $346,226 $487,201 $487,848 
Due after one year through five years355,389 355,684 172,403 173,281 
Total cash equivalents and marketable securities
$701,399 $701,910 $659,604 $661,129 
The unrealized loss for each of these fixed rate marketable securities was not material as of July 31, 2021 and January 31, 2021. The unrealized losses on these investments were primarily due to changes in market interest rates. We expect to receive the full principal and interest on all of these marketable securities and have the ability and intent to hold these investments until a recovery of fair value. We determined that no allowance for credit losses related to our marketable securities was required for the three and six months ended July 31, 2021 and 2020.
Realized gains and realized losses on our cash equivalents and marketable securities are included in other income (expense), net on the condensed consolidated statement of operations and were not material for the three and six months ended July 31, 2021 and 2020.
12
Table of Contents
Reclassification adjustments out of accumulated other comprehensive income into net loss were not material for the three and six months ended July 31, 2021 and 2020.

5. Fair Value Measurement
Our financial assets and liabilities consist principally of cash and cash equivalents, marketable securities, accounts receivable and accounts payable. We measure and record certain financial assets and liabilities at fair value on a recurring basis. The estimated fair value of accounts receivable and accounts payable approximates their carrying value due to their short-term nature. Cash equivalents and marketable securities are recorded at estimated fair value.
All of our cash equivalents and marketable securities are classified within Level 1 or Level 2 because the cash equivalents and marketable securities are valued using quoted market prices or alternative pricing sources and models utilizing observable market inputs.
We follow a three-level valuation hierarchy for disclosure of fair value measurements as follows:
Level 1    Inputs are unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date.
Level 2    Inputs (other than quoted market prices included in Level 1) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life.
Level 3    Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model.
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table represents our financial assets and liabilities according to the fair value hierarchy, measured at fair value as of July 31, 2021 (in thousands):
Level 1Level 2Total
Financial assets
Money market funds
$43,237 $— $43,237 
U.S. agency obligations
— 47,006 47,006 
Corporate notes and obligations
— 351,269 351,269 
Commercial paper
— 47,073 47,073 
Municipal securities
— 85,797 85,797 
Certificates of deposit
— 95,533 95,533 
U.S. treasury securities
— 31,995 31,995 
Total financial assets
$43,237 $658,673 $701,910 
13
Table of Contents
The following table represents our financial assets according to the fair value hierarchy, measured at fair value as of January 31, 2021 (in thousands):
Level 1Level 2Total
Financial assets
Money market funds
$186,127 $— $186,127 
U.S. agency obligations
— 69,044 69,044 
Asset-backed securities
— 2,903 2,903 
Corporate notes and obligations
— 211,464 211,464 
Commercial paper
— 48,225 48,225 
Municipal securities
— 40,239 40,239 
Certificates of deposit
— 64,8