Income Taxes (Tables)

12 Months Ended

Jan. 31, 2024

Schedule of Income before Income Tax, Domestic and Foreign

Our loss before provision for income taxes for fiscal 2024, 2023 and 2022 consisted of the following (in thousands):


	Year Ended January 31,
	2024		2023		2022
Domestic	$	(406,151)	$	(432,235)	$	(274,270)
Foreign	73,317		47,944		4,173
Loss before provision for income taxes	$	(332,834)	$	(384,291)	$	(270,097)

Schedule of Components of Income Tax Expense (Benefit)

The components of provision for income taxes for fiscal 2024, 2023 and 2022 consisted of the following (in thousands):


	Year Ended January 31,
	2024		2023		2022
Current:
State	$	150	$	53	$	82
Foreign	5,168		3,661		1,011
Total current	5,318		3,714		1,093
Deferred:
Federal	—		(6,754)		—
State	—		(2,913)		—
Foreign	541		340		(89)
Total deferred	541		(9,327)		(89)
Total provision for income taxes	$	5,859	$	(5,613)	$	1,004

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,
	2024		2023		2022
Benefit from income taxes at US federal statutory rate	$	(69,895)	$	(80,701)	$	(56,720)
State taxes, net of federal benefit	150		53		82
Foreign tax rate differential	23,179		10,140		(1,297)
Stock-based compensation	12,367		2,734		(23,442)
Non-deductible expenses	1,390		1,780		322
Research and development credits	(2,251)		(688)		(20)
Change in valuation allowance	40,525		60,145		81,739
Other	394		924		340
Total provision for (benefit from) income taxes	$	5,859	$	(5,613)	$	1,004

Schedule of Deferred Tax Assets and Liabilities

Significant components of our net deferred tax assets and liabilities as of January 31, 2024 and 2023 consisted of the following (in thousands):


	As of January 31,
	2024		2023
Deferred tax assets:
Net operating loss carryforwards	$	226,971	$	228,400
Research and development expenses	106,257		72,432
Deferred revenue	36,199		25,643
Accruals and reserves	9,265		6,215
Operating lease liabilities	7,492		9,139
Stock-based compensation	14,300		17,528
Other	7,111		2,622
Gross deferred tax assets	407,595		361,979
Valuation allowance	(340,951)		(291,751)
Total deferred tax assets	66,644		70,228
Deferred tax liabilities:
Acquired intangibles, property and equipment	(28,652)		(37,170)
Deferred contract acquisition costs	(30,423)		(22,868)
Operating lease right-of-use assets	(6,582)		(8,162)
Other	(1,782)		(2,279)
Total deferred tax liabilities	(67,439)		(70,479)
Net deferred tax assets (liabilities)	$	(795)	$	(251)

Schedule of Unrecognized Tax Benefits Roll Forward

The changes in the gross amount of unrecognized tax benefits consisted of the following (in thousands):


	As of January 31,
	2024		2023		2022
Balance at beginning of year	$	1,013	$	566	$	534
Gross increases for tax positions of current year	1,027		447		32
Gross increases for tax positions of prior year	157		—		—
Balance at end of year	$	2,197	$	1,013	$	566