Income Taxes (Tables)

12 Months Ended

Jan. 31, 2021

Schedule of Income before Income Tax, Domestic and Foreign

The Company’s geographical breakdown of its loss before provision for income taxes for the years ended January 31, 2021, January 31, 2020, and January 31, 2019 is as follows:


	Year Ended January 31,
	2021		2020		2019

	(in thousands)
Domestic	$	(94,713)	$	(149,807)	$	(143,308)
International	6,844		10,025		4,598
Loss before provision for income taxes	$	(87,869)	$	(139,782)	$	(138,710)

Schedule of Components of Income Tax Expense (Benefit)

The components of the provision for income taxes as of January 31, 2021, January 31, 2020, and January 31, 2019 are as follows:


	Year Ended January 31,
	2021			2020		2019

			(in thousands)
Current
Federal	$	—		$	—	$	—
State	401			104		304
Foreign	5,811			2,574		1,481
Total current	6,212			2,678		1,785
Deferred
Federal	(136)			(362)		—
State	(317)			(57)		—
Foreign	(999)			(262)		(418)
Total deferred	(1,452)			(681)		(418)
Provision for income taxes	$	4,760		$	1,997	$	1,367

Schedule of Effective Income Tax Rate Reconciliation

The following table provides a reconciliation between income taxes computed at the federal statutory rate and the provision for income taxes as of January 31, 2021, January 31, 2020, and January 31, 2019:


	Year Ended January 31,
	2021		2020		2019

	(in thousands)
Provision for income taxes at statutory rate	$	(18,453)	$	(29,354)	$	(29,129)
State income taxes, net of federal benefit	—		25		245
Foreign earnings at different rates	1,994		207		97
Research and other credits	(9,373)		(1,534)		(3,769)
Stock-based compensation	(140,489)		(43,477)		2,414
Non-deductible expenses	2,212		1,773		1,833
Change in unrecognized tax benefits	—		(2,659)		—
Valuation allowance	168,869		77,016		29,676
Provision for income taxes	$	4,760	$	1,997	$	1,367

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities as of January 31, 2021 and January 31, 2020 are as follows:


	Year Ended January 31,
	2021		2020

	(in thousands)
Deferred tax assets
Net operating loss carryforwards	$	289,889	$	166,083
Research and other credit carryforwards	22,778		15,355
Intangible assets	—		78
Stock-based compensation	20,154		8,716
Deferred revenue	21,595		21,012
Accrued expenses	7,791		2,555
Operating lease liabilities	10,718		—
Capitalized research and development	63,158		—
Other, net	—		950
Gross deferred assets	436,083		214,749
Less: Valuation allowance	(413,828)		(207,596)
Total deferred tax assets	22,255		7,153
Deferred tax liabilities
Property and equipment, net	(4,446)		(2,534)
Capitalized Commissions	(2,960)		(4,456)
Intangible assets	(3,697)		—
Operating right-of-use assets	(9,610)		—
Other, net	(302)		—
Total deferred tax liabilities	(21,015)		(6,990)
Net deferred tax assets (liabilities)	$	1,240	$	163

Schedule of Unrecognized Tax Benefits Roll Forward

The following is a rollforward of the total gross unrecognized tax benefits for the years ended January 31, 2021, January 31, 2020, and January 31, 2019 (in thousands):


Balance as of February 1, 2018	$	8,128
Increases in current period tax positions	—
Balance as of January 31, 2019	8,128
Reductions in prior period tax positions	(2,659)
Balance as of January 31, 2020	5,469
Increases in prior period tax positions	6,926
Increase in current period tax positions	12,052
Balance as of January 31, 2021	$	24,447