Revenues

6 Months Ended

Jul. 31, 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 July 31,								Six Months Ended July 31,
	2024				2023				2024				2023
Subscription—self-managed and SaaS	$	163,181	89	%	$	122,096	87	%	$	314,360	89	%	$	233,287	87	%
Subscription—self-managed	111,546		61		86,659		62		215,219		61		166,246		62
SaaS	51,635		28		35,437		25		99,141		28		67,041		25
License—self-managed and other	$	19,403	11	%	$	17,485	13	%	$	37,411	11	%	$	33,172	13	%
License—self-managed	15,802		9		14,624		11		30,639		9		27,979		11
Professional services and other	3,601		2		2,861		2		6,772		2		5,193		2
Total revenue	$	182,584	100	%	$	139,581	100	%	$	351,771	100	%	$	266,459	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 July 31,				Six Months Ended July 31,
	2024		2023		2024		2023
United States	$	149,357	$	114,054	$	286,883	$	217,016
Europe	28,889		22,245		56,541		43,202
Asia Pacific	4,338		3,282		8,347		6,241
Total revenue	$	182,584	$	139,581	$	351,771	$	266,459

During the three and six months ended July 31, 2024, the United States accounted for 82% of total revenue for each period presented. During the three and six months ended July 31, 2023, the United States accounted for 82% and 81% of total revenue, respectively. 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 and six months ended July 31, 2024, $133.9 million and $218.5 million, respectively, of revenue was recognized, which was included in the corresponding deferred revenue balance at the beginning of the periods presented. During the three and six months ended July 31, 2023, $101.6 million and $157.5 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 July 31, 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 $747.9 million and $673.8 million, respectively. As of July 31, 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, 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, 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 July 31, 2024, one partner represented 15% of the accounts receivable balance; while as of January 31, 2024, two 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 July 31, 2024 and January 31, 2024.

There were no individual customers whose revenue represented more than 10% of total revenue during the three and six months ended July 31, 2024 and 2023.