Income Taxes (Tables)

12 Months Ended

Jan. 31, 2022

Schedule of Income before Income Tax, Domestic and Foreign

Our loss before provision for income taxes for fiscal 2022, 2021 and 2020 consisted of the following (in thousands):


	Year Ended January 31,
	2022		2021		2020
Domestic	$	(274,270)	$	(18,159)	$	(1,700)
Foreign	4,173		(98,954)		(74,630)
Loss before provision for income taxes	$	(270,097)	$	(117,113)	$	(76,330)

Schedule of Components of Income Tax Expense (Benefit)

The components of provision for income taxes for fiscal 2022, 2021, and 2020 consisted of the following (in thousands):


	Year Ended January 31,
	2022		2021		2020
Current:

State	82		62		52
Foreign	1,011		398		185
Total current	1,093		460		237
Deferred:


Foreign	(89)		—		—
Total deferred	(89)		—		—
Total provision for income taxes	$	1,004	$	460	$	237

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the expected provision for (benefit from) income taxes at the statutory federal income tax rate to our recorded provision for income taxes consisted of the following (in thousands):


	Year Ended January 31,
	2022		2021		2020
Benefit from income taxes at U.S. federal statutory rate	$	(56,720)	$	(24,594)	$	(16,029)
State taxes, net of federal benefit	82		49		41
Foreign tax rate differential	(1,297)		(1,836)		(6,852)
Stock-based compensation	(23,442)		1,195		771
Non-deductible expenses	322		84		109

Change in valuation allowance	81,739		25,564		22,857
Other	320		(2)		(660)
Total provision for income taxes	$	1,004	$	460	$	237

Schedule of Deferred Tax Assets and Liabilities

Significant components of our net deferred tax assets and liabilities as of January 31, 2022 and 2021 consisted of the following (in thousands):


	As of January 31,
	2022		2021
Deferred tax assets:
Net operating loss carryforwards	$	174,646	$	70,735
Research and development expenses	36,989		11,479
Accruals and reserves	18,708		12,986
Operating lease liabilities	11,158		5,416
Stock-based compensation	7,936		140
Other	2,012		532
Gross deferred tax assets	251,449		101,288
Valuation allowance	(218,981)		(86,032)
Total deferred tax assets	32,468		15,256
Deferred tax liabilities:
Acquired intangibles, property and equipment	(6,235)		(1,217)
Deferred contract acquisition costs	(16,722)		(9,697)
Operating lease right-of-use assets	(9,422)		(4,342)
Total deferred tax liabilities	(32,379)		(15,256)
Net deferred tax assets	$	89	$	—