Subsequent Events

12 Months Ended

Jan. 31, 2022

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Business Combination

In March 2022, the Company entered into an agreement to acquire all outstanding capital stock of Streamlit, Inc. (Streamlit), a privately-held company which provides a framework built to simplify and accelerate the creation of data applications, for approximately $800 million (Deal Consideration), net of acquired cash and cash equivalents and subject to customary purchase price adjustments. Upon completion of the acquisition, which is subject to customary closing conditions and expected to occur in the three months ending April 30, 2022, the Deal Consideration will be paid in a combination of cash and unregistered shares of the Company’s common stock (Equity Consideration). A portion of the Equity Consideration that will be issued to Streamlit’s founders (Revested Shares) will be subject to revesting agreements pursuant to which the Revested Shares will vest over three years, subject to each founder’s continued employment with the Company or its affiliates. The portion of the fair value of these Revested Shares attributable to post-combination services will be expensed over the remaining service periods as stock-based compensation.

Net Share Settlement of RSUs

In the three months ending April 30, 2022, the Company began funding withholding taxes in certain jurisdictions due on the vesting of employee RSUs by net share settlement, rather than its previous approach of selling shares of the Company’s common stock to cover taxes upon vesting of such awards. The amount of withholding taxes related to net share settlement of employee RSUs, which is approximately $54 million for the three months ending April 30, 2022, will be reflected as (i) a reduction to additional paid-in-capital, and (ii) cash outflows for financing activities when the payments are made. The shares withheld by the Company as a result of the net share settlement of RSUs are not considered issued and outstanding, thereby reducing our shares outstanding used to calculate net income (loss) per share.