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Revenues
 9 Months Ended
Oct. 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 October 31,Nine Months Ended October 31,
2024202320242023
Subscription—self-managed and SaaS$175,257 89 %$130,993 88 %$489,617 89 %$364,280 88 %
Subscription—self-managed118,525 60 91,716 62 333,744 61 257,962 62 
SaaS56,732 29 39,277 26 155,873 28 106,318 26 
License—self-managed and other$20,790 11 %$18,675 12 %$58,201 11 %$51,847 12 %
License—self-managed16,655 9 16,037 10 47,294 9 44,016 10 
Professional services and other4,135 2 2,638 2 10,907 2 7,831 2 
Total revenue$196,047 100 %$149,668 100 %$547,818 100 %$416,127 100 %
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 October 31,Nine Months Ended October 31,
2024202320242023
United States$159,013 $122,415 $445,896 $339,431 
Europe32,397 23,731 88,938 66,933 
Asia Pacific4,637 3,522 12,984 9,763 
Total revenue$196,047 $149,668 $547,818 $416,127 
During the three and nine months ended October 31, 2024, the United States accounted for 81% of total revenue for each period presented. During the three and nine months ended October 31, 2023, the United States accounted for 82% of total revenue for each period presented. 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 nine months ended October 31, 2024, $145.0 million and $276.6 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 nine months ended October 31, 2023, $102.1 million and $200.8 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 October 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 $811.8 million and $673.8 million, respectively. As of October 31, 2024, the Company expects to recognize approximately 63% of the transaction price as product or services revenue over the next 12 months and 88% 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 October 31, 2024, three channel partners represented 10%, 11% and 14% of the accounts receivable balance, respectively; 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 October 31, 2024 and January 31, 2024.
There were no individual customers whose revenue represented more than 10% of total revenue during the three and nine months ended October 31, 2024 and 2023.