Revenue Recognition

6 Months Ended

Jul. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

Disaggregation of Revenue

The following table summarizes revenue by region based on the billing address of customers:

	Three Months Ended July 31,								Six Months Ended July 31,
	2024				2023				2024				2023
	Amount		Percentage of Revenue		Amount		Percentage of Revenue		Amount		Percentage of Revenue		Amount		Percentage of Revenue
	(in thousands, except percentages)
Americas	$	835,728	71.9	%	$	808,425	71.0	%	$	1,654,411	71.8	%	$	1,593,022	71.0	%
Asia Pacific (“APAC”)	142,315		12.2		144,915		12.7		280,629		12.2		285,786		12.7
Europe, Middle East, and Africa (“EMEA”)	184,477		15.9		185,336		16.3		368,714		16.0		365,232		16.3
Total	$	1,162,520	100.0	%	$	1,138,676	100.0	%	$	2,303,754	100.0	%	$	2,244,040	100.0	%

Contract Balances

We receive payments from customers based on a billing schedule as established in our customer contracts. Accounts receivable are recorded when we contractually have the right to consideration. In some arrangements, a right to consideration for our performance under the customer contract may occur before invoicing to the customer, resulting in an unbilled accounts receivable. The amount of unbilled accounts receivable included within accounts receivable, net was $119.9 million and $124.8 million as of July 31, 2024 and January 31, 2024, respectively, and the amount of unbilled accounts receivable included within other assets, noncurrent was immaterial as of July 31, 2024 and January 31, 2024.

Contract liabilities consist of deferred revenue. Revenue is deferred when we have the right to invoice in advance of performance under a customer contract. The current portion of deferred revenue balances is recognized over the next 12 months. The amount of revenue recognized during the three months ended July 31, 2024 and 2023 that was included in deferred

revenue at the beginning of each period was $609.4 million and $593.9 million, respectively, and $955.4 million and $939.2 million during the six months ended July 31, 2024 and 2023, respectively.

Remaining Performance Obligations

The terms of our subscription agreements are monthly, annual, and multiyear, and we may bill for the full term in advance or on an annual, quarterly, or monthly basis, depending on the billing terms with customers. As of July 31, 2024, the aggregate amount of the transaction price allocated to our remaining performance obligations was $3,778.3 million, which consists of both billed consideration in the amount of $1,406.7 million and unbilled consideration in the amount of $2,371.6 million that we expect to recognize as revenue. We expect to recognize 60% of our remaining performance obligations as revenue over the next 12 months and the remainder thereafter.