Revenue

9 Months Ended

Jan. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

Disaggregation of Revenue

The following table presents revenue by geographical region (in thousands):

	Three Months Ended January 31,				Nine Months Ended January 31,
	2022		2021		2022		2021
North America (1)	$	56,846	$	29,488	$	136,995	$	86,100
Europe, the Middle East and Africa (1)	11,108		17,141		36,116		39,922
Asia Pacific (1)	1,819		1,655		7,331		4,086
Rest of World (1)	—		825		—		825
Total revenue	$	69,773	$	49,109	$	180,442	$	130,933

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(1)The United States comprised 81% and 60% of the Company’s revenue for the three months ended January 31, 2022 and 2021, respectively, and 76% and 65% of the Company’s revenue in the nine months ended January 31, 2022 and 2021, respectively. France comprised 8% and 12% of the Company’s revenue for the three months ended January 31, 2022 and 2021, respectively, and 11% and 12% of the Company’s revenue for the nine months ended January 31, 2022 and 2021, respectively. No other country comprised 10% or greater of the Company’s revenue for each of the three and nine months ended January 31, 2022 and 2021.

Deferred Revenue

The following table reflects the deferred revenue balance (in thousands):

	As of January 31,		As of April 30,
	2022		2021
Deferred revenue, current	$	58,524	$	72,263
Deferred revenue, non-current	924		2,964
Total deferred revenue	$	59,448	$	75,227

Significant changes in the deferred revenue balances during the nine months ended January 31, 2022 and 2021 were as follows (in thousands):

	Deferred Revenue
April 30, 2021	$	75,227
Performance obligations satisfied during the period that were included in the deferred revenue balance at the beginning of the year	(68,787)
Increases due to invoicing prior to satisfaction of performance obligations	53,008
January 31, 2022	$	59,448

	Deferred Revenue
April 30, 2020	$	60,295
Performance obligations satisfied during the period that were included in the deferred revenue balance at the beginning of the year	(53,086)
Increases due to invoicing prior to satisfaction of performance obligations	55,101
January 31, 2021	$	62,310

Remaining Performance Obligation

Remaining performance obligations are committed and represent non-cancellable contracted revenue that has not yet been recognized and will be recognized as revenue in future periods. Some contracts allow customers to cancel the contracts without a significant penalty, and the cancellable amount of contract value is not included in the remaining performance obligations.

The Company excludes amounts related to performance obligations and usage-based royalties that are billed and recognized as they are delivered or billed and recognized in the same period. This primarily consists of monthly usage-based runtime and hosting charges in the duration of some revenue contracts.

Revenue expected to be recognized from remaining performance obligations was approximately $469.3 million and $293.8 million as of January 31, 2022 and April 30, 2021, respectively, of which $171.6 million and $145.2 million is expected to be recognized over the next 12 months and the remainder thereafter, respectively.

Customer Concentration and Accounts Receivable

All of the Company’s Customer-Entities (as defined below) consist of corporate and governmental entities. A limited number of Customer-Entities have accounted for a large part of the Company’s revenue and accounts receivable to date. For the purpose of determining customer concentration and accounts receivable, unbilled receivables have been excluded from accounts receivable balance. Two separate Customer-Entities accounted for 36% and 10%, respectively, of revenue for the three months ended January 31, 2022. Two separate Customer-Entities accounted for 16% and 12%, respectively, of revenue for the three months ended January 31, 2021. Two separate Customer-Entities accounted for 30% and 10%, respectively, of revenue for the nine months ended January 31, 2022. Two separate Customer-Entities accounted for 16% and 12%, respectively, of revenue for the nine months ended January 31, 2021. Five separate Customer-Entities accounted for 21%, 19%, 14%, 12% and 10% of accounts receivable at January 31, 2022. Four separate Customer-Entities accounted for 18%, 14%, 14% and 11% of accounts receivable at April 30, 2021. A Customer-Entity is defined as each entity that is the ultimate parent of a party contracting with the Company.

Accounts receivable includes billed and unbilled receivables, net of allowance of doubtful accounts. Trade accounts receivable are recorded at invoiced amounts and do not bear interest. The expectation of collectability is based on a review of credit profiles of customers, contractual terms and conditions, current economic trends, and historical payment experience. The Company regularly reviews the adequacy of the allowance for doubtful accounts by considering the age of each outstanding invoice and the collection history of each customer to determine the appropriate amount of allowance for doubtful accounts. Accounts receivable included unbilled receivables as of January 31, 2022 and April 30, 2021 of $5.1 million and $3.8 million, respectively.