Income Taxes (Tables)

12 Months Ended

Jan. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Loss Before Income Taxes

The components of loss before income taxes were as follows (in thousands):

	Fiscal Year Ended January 31,
	2022		2021		2020
U.S.	$	(717,208)	$	(544,700)	$	(351,100)
Foreign	40,248		7,660		3,558
Loss before income taxes	$	(676,960)	$	(537,040)	$	(347,542)

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following (in thousands):

	Fiscal Year Ended January 31,
	2022		2021		2020
Current provision:
State	$	288	$	704	$	194
Foreign	3,417		1,388		1,400
Deferred benefit:
Federal	—		(28)		(512)
State	—		(2)		(89)
Foreign	(717)		—		—
Provision for income taxes	$	2,988	$	2,062	$	993

Schedule of Effective Income Tax Rate Reconciliation

The effective income tax rate differs from the federal statutory income tax rate applied to the loss before income taxes due to the following (in thousands):

	Fiscal Year Ended January 31,
	2022		2021		2020
Income tax expense computed at federal statutory rate	$	(142,162)	$	(112,778)	$	(72,984)
State taxes, net of federal benefit	35,360		14,818		(12,239)
Research and development credits	(142,544)		(56,633)		(5,805)
Stock-based compensation	(898,234)		(246,363)		6,905
Change in valuation allowance	1,159,276		391,659		83,966
Other	(8,708)		11,359		1,150
Provision for income taxes	$	2,988	$	2,062	$	993

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and deferred tax liabilities are shown below (in thousands):

	January 31, 2022		January 31, 2021
Deferred tax assets:
Net operating losses carryforwards	$	1,522,969	$	479,564
Tax credit carryforwards	215,934		72,138
Stock-based compensation	88,743		49,548
Operating lease liabilities	48,682		50,834
Other	79,141		23,123
Total deferred tax assets	1,955,469		675,207
Less: valuation allowance	(1,858,730)		(599,603)
Net deferred tax assets	96,739		75,604
Deferred tax liabilities:
Deferred commissions	(28,368)		(21,506)
Intangible assets	(15,692)		(3,755)
Net unrealized gains on strategic investments	(6,399)		—
Operating lease right-of-use assets	(48,307)		(50,343)
Total deferred tax liabilities	(98,766)		(75,604)
Net deferred tax assets (liabilities)	$	(2,027)	$	—

Schedule of Unrecognized Tax Benefits

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

	Fiscal Year Ended January 31,
	2022		2021		2020
Beginning balance	$	19,349	$	4,057	$	2,407
Increases based on tax positions during the prior period	20		35		—
Increases based on tax positions during the current period	38,346		15,257		1,650
Ending balance	$	57,715	$	19,349	$	4,057