Revenues

3 Months Ended

Apr. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenues

3. Revenues

Disaggregation of Revenue

The following table shows the components of revenues and their respective percentages of total revenue for the periods indicated (in thousands, except percentages):

	Three Months Ended April 30,
	2024				2023
Subscription—self-managed and SaaS	$	151,179	89	%	$	111,191	88	%
Subscription—self-managed	103,673		61		79,587		63
SaaS	47,506		28		31,604		25
License—self-managed and other	$	18,008	11	%	$	15,687	12	%
License—self-managed	14,837		9		13,355		10
Professional services and other	3,171		2		2,332		2
Total revenue	$	169,187	100	%	$	126,878	100	%

Total Revenue by Geographic Location

The following table summarizes the Company’s total revenue by geographic location based on the region of the Company’s contracting entity, which may be different than the region of the customer (in thousands):

	Three Months Ended April 30,
	2024		2023
United States	$	137,526	$	102,962
Europe	27,652		20,957
Asia Pacific	4,009		2,959
Total revenue	$	169,187	$	126,878

During the three months ended April 30, 2024 and 2023, the United States accounted for 81% of total revenue. No other individual country exceeded 10% of total revenue for any of the periods presented.

The Company operates its business as a single operating segment.

Deferred Revenue

During the three months ended April 30, 2024 and 2023, $125.3 million and $90.6 million, respectively, of revenue was recognized, which was included in the corresponding deferred revenue balance at the beginning of the periods presented.

Remaining Performance Obligations

As of April 30, 2024 and January 31, 2024, the aggregate amount of the transaction price allocated to billed and unbilled remaining performance obligations for which revenue has not yet been recognized was approximately $681.2 million and $673.8 million, respectively. As of April 30, 2024, the Company expects to recognize approximately 64% of the transaction price as product or services revenue over the next 12 months and 87% over the next 24 months.

Concentration of Credit Risk and Significant Customers

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents, restricted cash, short-term investments, and accounts receivable. At

times, cash deposits may be in excess of insured limits. The Company believes that the financial institutions or corporations that hold its cash, cash equivalents, restricted cash, and short-term investments are financially sound and, accordingly, minimal credit risk exists with respect to these balances. The Company maintains allowances for potential credit losses on accounts receivable when deemed necessary.

The Company uses various distribution channels. As of April 30, 2024, two of these channel partners represented 10% and 14% of the accounts receivable balance, respectively, while as of January 31, 2024, two of these channel partners represented 12% and 13% of the accounts receivable balance, respectively. There were no individual customers whose balance represented more than 10% of accounts receivable as of April 30, 2024 and January 31, 2024.

There were no individual customers whose revenue represented more than 10% of total revenue during the three months ended April 30, 2024 and 2023.