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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Apr. 30, 2020	May 31, 2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2020
Document Transition Report	false
Entity File Number	001-38933
Entity Registrant Name	CROWDSTRIKE HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-3788918
Entity Address, Address Line One	150 Mathilda Place
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Sunnyvale
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94086
Title of 12(b) Security	Class A common stock, par value $0.0005 per share
Trading Symbol	CRWD
Security Exchange Name	NASDAQ
City Area Code	888
Local Phone Number	512-8906
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001535527
Current Fiscal Year End Date	--01-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A common stock
Entity Common Stock, Shares Outstanding		151,213,435
Class B common stock
Entity Common Stock, Shares Outstanding		64,780,310

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Cash and cash equivalents
Cash and cash equivalents	$ 1,004,991	$ 264,798
Marketable securities	0	647,266
Accounts receivable, net of allowance for doubtful accounts of $2.1 million and $1.1 million as of April 30, 2020 and January 31, 2020, respectively	144,187	164,987
Deferred contract acquisition costs, current	53,410	42,971
Prepaid expenses and other current assets	45,874	51,614
Total current assets	1,248,462	1,171,636
Strategic investments	1,000	1,000
Property and equipment, net	139,096	136,078
Operating lease right-of-use assets	35,738	0
Deferred contract acquisition costs, noncurrent	69,908	71,235
Goodwill	7,652	7,722
Intangible assets, net	419	527
Other assets	17,121	16,708
Total assets	1,519,396	1,404,906
Current liabilities:
Accounts payable	6,528	1,345
Accrued expenses	26,396	30,355
Accrued payroll and benefits	37,458	36,810
Operating lease liabilities, current	6,673	0
Deferred revenue	465,569	412,985
Other current liabilities	13,020	11,601
Total current liabilities	555,644	493,096
Deferred revenue, noncurrent	170,404	158,183
Operating lease liabilities, noncurrent	32,907	0
Other liabilities, noncurrent	7,288	11,020
Total liabilities	766,243	662,299
Stockholders’ Equity
Preferred stock, $0.0005 par value; 100,000 shares authorized as of April 30, 2020 and January 31, 2020; no shares issued and outstanding as of April 30, 2020 and January 31, 2020	0	0
Additional paid-in capital	1,409,758	1,378,479
Accumulated deficit	(656,709)	(637,487)
Accumulated other comprehensive income (loss)	(1,004)	1,009
Total CrowdStrike Holdings, Inc. stockholders’ equity	752,153	742,107
Non-controlling interest	1,000	500
Total stockholders’ equity	753,153	742,607
Total liabilities and stockholders’ equity	1,519,396	1,404,906
Class A and Class B common stock
Stockholders’ Equity
Common stock, value	$ 108	$ 106

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Accounts receivable, allowance for doubtful accounts	$ 2,100	$ 1,100
Preferred stock, par value (in usd per share)	$ 0.0005	$ 0.0005
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A common stock
Common stock, par value (in usd per share)	$ 0.0005	$ 0.0005
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	149,899,000	107,666,000
Common stock, shares outstanding (in shares)	149,899,000	107,666,000
Class B common stock
Common stock, par value (in usd per share)	$ 0.0005	$ 0.0005
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	65,606,000	105,282,000
Common stock, shares outstanding (in shares)	65,606,000	105,282,000

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Revenue
Total revenue	$ 178,078	$ 96,077
Cost of revenue
Total cost of revenue	46,895	29,273
Gross profit	131,183	66,804
Operating expenses
Sales and marketing	88,138	56,843
Research and development	40,578	23,875
General and administrative	25,043	11,861
Total operating expenses	153,759	92,579
Loss from operations	(22,576)	(25,775)
Interest expense	(143)	(1)
Other income, net	4,533	394
Loss before provision for income taxes	(18,186)	(25,382)
Provision for income taxes	(1,036)	(595)
Net loss	$ (19,222)	$ (25,977)
Net loss per share attributable to Class A and Class B common stockholders, basic and diluted (in usd per share)	$ (0.09)	$ (0.55)
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted (in shares)	213,129,000	47,205,000
Subscription
Revenue
Total revenue	$ 162,222	$ 85,990
Cost of revenue
Total cost of revenue	37,244	23,691
Professional services
Revenue
Total revenue	15,856	10,087
Cost of revenue
Total cost of revenue	$ 9,651	$ 5,582

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (19,222)	$ (25,977)
Other comprehensive loss:
Foreign currency translation adjustments	(693)	(280)
Reversal of unrealized gain upon sale of debt securities	(1,320)	0
Unrealized loss on available-for-sale securities, net of tax	0	(4)
Other comprehensive loss	(2,013)	(284)
Total comprehensive loss	$ (21,235)	$ (26,261)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Deficit - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Non-controlling Interest	Redeemable Convertible Preferred Stock
Beginning Balance (in shares) at Jan. 31, 2019							131,268,000
Beginning Balance at Jan. 31, 2019							$ 557,912
Ending Balance (in shares) at Apr. 30, 2019							131,268,000
Ending Balance at Apr. 30, 2019							$ 557,912
Beginning Balance (in shares) at Jan. 31, 2019		47,421,000
Beginning Balance at Jan. 31, 2019	$ (487,793)	$ 24	$ 31,211	$ (519,126)	$ 98
Stockholders' Deficit
Issuance of common stock upon exercise of options (in shares)		706,000
Issuance of common stock upon exercise of options	1,510	$ 0	1,510
Vesting of early exercised options	144		144
Stock-based compensation expense	3,752		3,752
Capitalized stock-based compensation	53		53
Net loss	(25,977)			(25,977)
Other comprehensive loss	(284)				(284)
Ending Balance (in shares) at Apr. 30, 2019		48,127,000
Ending Balance at Apr. 30, 2019	(485,177)	$ 24	36,670	(521,685)	(186)
Beginning Balance (in shares) at Jan. 31, 2020							0
Beginning Balance at Jan. 31, 2020							$ 0
Ending Balance (in shares) at Apr. 30, 2020							0
Ending Balance at Apr. 30, 2020							$ 0
Beginning Balance (in shares) at Jan. 31, 2020		212,948,000
Beginning Balance at Jan. 31, 2020	742,107
Beginning balance at Jan. 31, 2020	742,607	$ 106	1,378,479	(637,487)	1,009	$ 500
Stockholders' Deficit
Issuance of common stock upon exercise of options (in shares)		2,056,000
Issuance of common stock upon exercise of options	6,393	$ 2	6,391
Issuance of common stock under RSU release (in shares)		501,000
Issuance of common stock under RSU release	0	$ 0
Vesting of early exercised options	873		873
Stock-based compensation expense	23,638		23,638
Capitalized stock-based compensation	377		377
Net loss	(19,222)			(19,222)
Non-controlling interest	500					500
Other comprehensive loss	(2,013)				(2,013)
Ending Balance (in shares) at Apr. 30, 2020		215,505,000
Ending Balance at Apr. 30, 2020	752,153
Ending balance at Apr. 30, 2020	$ 753,153	$ 108	$ 1,409,758	$ (656,709)	$ (1,004)	$ 1,000

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Operating activities
Net loss	$ (19,222)	$ (25,977)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	8,202	4,873
Amortization of intangible assets	103	146
Amortization of deferred contract acquisition costs	13,451	7,345
Non-cash operating lease cost	2,283	0
Change in fair value of redeemable convertible preferred stock warrant liability	0	1,167
Provision for bad debts	149	(254)
Stock-based compensation expense	23,638	3,752
Gain on sale of debt securities, net	(1,347)	0
Amortization (accretion) of marketable securities purchased at a discount	578	(513)
Non-cash interest expense	151	(424)
Changes in operating assets and liabilities
Accounts receivable	20,651	5,375
Deferred contract acquisition costs	(22,563)	(8,471)
Prepaid expenses and other assets	5,332	(4,049)
Accounts payable	4,736	2,818
Accrued expenses and other current liabilities	(1,095)	(2,407)
Accrued payroll and benefits	648	(6,601)
Operating lease liabilities	(2,975)	0
Deferred revenue	64,805	24,812
Other liabilities	1,052	(177)
Net cash provided by operating activities	98,577	1,415
Investing activities
Purchases of property and equipment	(9,694)	(15,541)
Capitalized internal-use software	(1,882)	(1,984)
Purchases of marketable securities	(84,904)	(51,805)
Proceeds from sales of marketable securities	639,586	4,473
Maturities of marketable securities	91,605	68,995
Net cash provided by investing activities	634,711	4,138
Financing activities
Payments of deferred offering costs	0	(2,392)
Proceeds from issuance of common stock upon exercise of stock options	6,393	1,510
Capital contributions from non-controlling interest holders	500	0
Net cash provided by (used in) financing activities	6,893	(882)
Effect of foreign exchange rates on cash and cash equivalents	12	(86)
Net increase in cash and cash equivalents	740,193	4,585
Cash and cash equivalents, beginning of period	264,798	88,408
Cash and cash equivalents, end of period	1,004,991	92,993
Supplemental disclosure of cash flow information:
Interest paid	0	1
Income taxes paid	353	114
Supplemental disclosure of non-cash investing and financing activities:
Net (decrease) increase in deferred offering costs, accrued but not paid	0	(1,210)
Net (decrease) increase in property and equipment included in accounts payable and accrued expenses	(723)	(54)
Vesting of early exercised options	$ 873	$ 144

Description of Business and Basis of Presentation	3 Months Ended
Description of Business and Basis of Presentation	Apr. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	1. Description of Business and Basis of Presentation Business CrowdStrike Holdings, Inc. (the “Company”) was formed on November 7, 2011. The Company provides a leading cloud-delivered solution for next-generation endpoint protection that offers 11 cloud modules on its Falcon platform via a software as a service (“SaaS”) subscription-based model that spans multiple large security markets, including endpoint security, security and IT operations (including vulnerability management), and threat intelligence. The Company is headquartered in Sunnyvale, California. The Company conducts its business in the United States, as well as locations internationally, including in Australia, Germany, India, Romania, and the United Kingdom. Initial Public Offering On June 14, 2019, the Company closed its initial public offering (“IPO”), in which it sold 20,700,000 shares of Class A common stock. The shares were sold at a public offering price of $34.00 per share for net proceeds of $659.2 million, after deducting underwriters’ discounts and commissions and offering expenses of $44.8 million. Immediately prior to the closing of the IPO, all outstanding shares of redeemable convertible preferred stock automatically converted into 131,267,586 shares of Class B common stock on a one-to-one basis. Additionally, in connection with the IPO, all of the Company’s outstanding common stock was reclassified into shares of Class B common stock on a one-for-one basis. Redeemable convertible preferred stock warrants also converted into 336,386 warrants to purchase Class B common stock on a one-to-one basis. Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP have been condensed or omitted, and accordingly the balance sheet as of January 31, 2020, and related disclosures, have been derived from the audited consolidated financial statements at that date but do not include all of the information required by U.S. GAAP for complete consolidated financial statements. These unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements and, in the opinion of management, reflect all adjustments (consisting only of normal recurring adjustments) that are necessary for the fair statement of the Company’s condensed consolidated financial information. The results of operations for the three months ended April 30, 2020 are not necessarily indicative of the results to be expected for the year ending January 31, 2021 or for any other interim period or for any other future year.

Summary of Significant Accounting Policies

3 Months Ended

Apr. 30, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Principles of Consolidation

The condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Certain information and footnote disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the applicable required disclosures and regulations of the SEC. Therefore, the accompanying interim unaudited condensed consolidated financial statements and related financial information should be read in conjunction with Item 8, “Financial Statements and Supplementary Data” included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2020, filed with the SEC on March 23, 2020.

JOBS Act Accounting Election

The Company is an “emerging growth company” (“EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”). An EGC may take advantage of specified reduced reporting requirements that are otherwise applicable generally to public companies, including, but not limited to, delayed adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002 (“Sarbanes-Oxley Act”), reduced disclosure obligations regarding executive compensation in the Company’s periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.

The Company may take advantage of these exemptions until it is no longer an EGC. The Company would cease to be an EGC upon the earliest to occur of: (i) the first fiscal year following the fifth anniversary of its initial public offering; (ii) the first fiscal year after annual gross revenue is $1.07 billion or more; (iii) the date on which the Company has, during the previous three-year period, issued more than $1.0 billion in non-convertible debt securities; or (iv) the date on which the Company qualifies as a “large accelerated filer,” as defined in Rule 12b-2 under the Exchange Act, which would occur at the end of any fiscal year in which the market value of the Company’s common stock held by non-affiliates exceeded $700.0 million as of the end of the second quarter of that fiscal year, and as of the end of such fiscal year the Company has been a reporting company for at least 12 months.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s condensed consolidated financial statements and accompanying notes. These estimates are based on information available as of the date of the condensed consolidated financial statements. On a regular basis, management evaluates these estimates and assumptions. Actual results may differ from these estimates and such difference could be material to the Company’s condensed consolidated financial statements.

Estimates and assumptions used by management include, but are not limited to, revenue recognition, the allowance for doubtful accounts, the carrying value and the useful lives of long-lived assets, the fair values of financial instruments and strategic investments, the period of benefit for deferred contract acquisition costs, the discount rate used for operating leases, the recognition and disclosure of contingent liabilities, income taxes, and stock-based compensation.

Due to the Coronavirus (“COVID-19”) pandemic, there has been uncertainty and disruption in the global economy and financial markets. The Company is not aware of any specific event or circumstance that would require a material update to its estimates or judgments or an adjustment of the carrying value of its assets or liabilities as of April 30, 2020. While there was not a material impact to the Company’s consolidated financial statements as of and for the quarter ended April 30, 2020, these estimates may change, as new events occur and additional information is obtained, as well as other factors related to COVID-19 that could result in material impacts to the Company’s consolidated financial statements in future reporting periods.

Concentration of Credit Risk and Geographic Information

The Company generates revenue from the sale of subscriptions to access its cloud platform and professional services. The Company’s sales team, along with its channel partner network of system integrators and value-added resellers (collectively, “channel partners”), sells the Company’s services worldwide to organizations of all sizes. Due to the nature of the Company’s services and the terms and conditions of the Company’s contracts with its channel partners, the Company’s business could be affected unfavorably if it is not able to continue its relationships with them.

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents, marketable securities, accounts receivable, and strategic investments. The Company’s cash is placed with high-credit-quality financial institutions and issuers, and at times exceed federally insured limits. The Company limits its concentration of risk in cash equivalents and marketable securities by diversifying its investments among a variety of industries and issuers. The Company has not experienced any credit loss relating to its cash equivalents, marketable securities, and strategic investments. The Company performs periodic credit evaluations of its customers and generally does not require collateral.

Channel partners or direct customers who represented 10% or more of the Company’s accounts receivable were as follows:


	April 30,		January 31,
	2020		2020
Channel partner A	8	%	11	%
Channel partner B	4	%	10	%
Channel partner C	11	%	3	%
Customer B	7	%	20	%

Channel partners who represented 10% or more of the Company’s total revenue were as follows:


	Three Months Ended April 30,
	2020		2019
Channel partner A	9	%	12%

There were no direct customers who represented 10% or more of the Company’s total revenue during the three months ended April 30, 2020 and April 30, 2019.

Significant Accounting Policies

Other than the policies described below, there have been no changes to the Company’s significant accounting policies described in its Annual Report on Form 10-K that have had a material impact on its consolidated financial statements and related notes.

Leases

The Company enters into operating lease arrangements for real estate assets related to office space. The Company determines if an arrangement is or contains a lease at inception by evaluating various factors, including whether a vendor’s right to substitute an identified asset is substantive. Lease classification is determined at the lease commencement date, which is the date the leased assets are made available for use. Operating leases are included in “Operating lease right-of-use assets”, “Operating lease liabilities, current”, and “Operating lease liabilities, noncurrent” in the condensed consolidated balance sheets. The Company did not have any financing leases in any of the periods presented.

Operating lease right-of-use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Lease payments consist of the fixed payments under the arrangement, less any lease incentives, such as tenant improvement allowances. Variable costs, such as maintenance and utilities based on actual usage, are not included in the measurement of right-to-use assets and lease liabilities but are expensed when the event determining the amount of variable consideration to be paid occurs. As the implicit rate of the leases is not determinable, the Company uses an incremental borrowing rate (“IBR”) based on the information available at the lease commencement date in determining the present value of lease payments. Lease expenses are recognized on a straight-line basis over the lease term.

The Company generally uses the non-cancelable lease term when recognizing the right-of-use (“ROU”) assets and lease liabilities, unless it is reasonably certain that a renewal or termination option will be exercised. The Company accounts for lease components and non-lease components as a single lease component.

Leases with a term of twelve months or less are not recognized on the consolidated balance sheets but are recognized as expense on a straight-line basis over the term of the lease.

Available-for-sale debt securities

The Company evaluates investments with unrealized loss positions by assessing if they are related to deterioration in credit risk and whether we expect to recover the entire amortized cost basis of the security, our intent to sell and whether it is more likely than not that we will be required to sell the securities before the recovery of their cost basis. Credit-related impairment losses, not to exceed the amount that fair value is less than the amortized cost basis, are recognized through an allowance for credit losses with changes in the allowance for credit losses recorded in other income, net in the condensed consolidated statements of comprehensive income (loss). As of April 30, 2020, there were no marketable securities held by the Company and there were no securities that had been in continuous unrealized loss position.

Accounts Receivable

Accounts receivable are recorded at the invoiced amount and are non-interest bearing. Accounts receivable are stated at their net realizable value, net of allowance for doubtful accounts. The Company has a well-established collections history from its customers. Credit is extended to customers based on an evaluation of their financial condition and other factors. The Company generally does not require collateral from its customers; however, the Company may require payment prior to commencing service in certain instances to limit credit risk. The Company regularly reviews the adequacy of the allowance for doubtful accounts by considering various factors including the age of each outstanding invoice, each customer’s expected ability to pay, historical loss rates and expectations of forward-looking loss estimates to determine whether the allowance is appropriate. Amounts deemed uncollectible are written off against the allowance for doubtful accounts. As of April 30, 2020 and January 31, 2020, the allowance for doubtful accounts was $2.1 million and $1.1 million, respectively.

Software Implementation Costs

The Company contracts with third party information technology providers for various service arrangements including software, platform, and information technology infrastructure. The Company capitalizes the implementation cost incurred to develop or obtain internal-use software in such arrangements. All capitalized implementation costs are amortized over the term of the arrangement which includes reasonably certain renewals. Costs incurred during the preliminary project and post implement stage are expensed as the activities are performed. Capitalized implementation costs were not material for the three months ended April 30, 2020.

Recently Adopted Accounting Pronouncements

In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, “Leases (Topic 842),” which requires lessees to generally recognize on the balance sheet operating and financing lease liabilities and corresponding right-of-use assets, and to recognize on the income statement the expenses in a manner similar to prior practice. The Company adopted Topic 842 using the modified retrospective method as of February 1, 2020.

The Company elected the following practical expedients:

•The package of practical expedients which allows for not reassessing 1) whether existing contracts contain leases, 2) the lease classification of existing leases, and 3) whether existing initial direct costs meet the new definition.

•The practical expedient in ASC Subtopic 842-10 to not separate non-lease components from lease components and instead account for each separate lease component and non-lease components associated with that lease component as a single lease component by class of the underlying assets.

•Not to recognize right of use assets and lease liabilities for short-term leases, which have a lease term of twelve months or less and do not include an option to purchase the underlying asset that the Company is reasonably certain to exercise.

The Company did not elect the hindsight practical expedient.

Lease payments consist primarily of the fixed payments under the arrangement, less any lease incentives such as tenant improvement allowance. The Company uses an estimate of our incremental borrowing rate (IBR) based on the information available at the lease commencement date in determining the present value of lease payments, unless the implicit rate is readily determinable. In determining the appropriate IBR, management considers information including, but not limited to, the Company’s credit rating, the lease term, and the currency in which the arrangement is denominated. For leases which commenced prior to the adoption of Topic 842, the Company used the IBR on January 31, 2020.

The adoption of this new standard at February 1, 2020, and the application of the modified retrospective transition approach resulted in the following changes:

a.Assets increased by $37.4 million, primarily representing the recognition of ROU asset for operating leases; and

b.Liabilities increased by $37.4 million, primarily representing the recognition of lease liabilities for operating leases partially offset by derecognition of liabilities for deferred rent previously designated under ASC Topic 840

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This ASU requires a financial asset measured at amortized cost basis to be presented at the net amount expected to be collected, with further clarifications made more recently regarding the treatment of accrued interest, transfers between classifications for loans and debt securities, recoveries and the option to irrevocably elect the fair value option (on an instrument-by-instrument basis) for eligible financial assets at amortized costs. For trade receivables, loans, and other financial assets, the Company will be required to use a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses which reflects losses that are probable. Credit losses relating to available-for-sale debt securities are required to be recorded through an allowance for credit losses in the condensed consolidated statements of operation rather than as a reduction in the amortized cost basis of the securities. On February 1, 2020, the Company adopted ASU No. 2016-13, which did not have a material effect on its condensed consolidated financial statements.

In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This ASU simplifies the measurement of goodwill by eliminating step two of the two-step impairment test. Step two measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. This ASU requires an entity to compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. Additionally, an entity should consider income tax effects from any tax-deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. On February 1, 2020, the Company adopted ASU No. 2017-04, which did not have material effect on its condensed consolidated financial statements.

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. This ASU modifies the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement. On February 1, 2020, the Company adopted ASU No. 2018-13 on a prospective basis. This standard did not have a material effect on its condensed consolidated financial statements.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force). This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal use software. On February 1, 2020, the Company adopted ASU No. 2018-15, which did not have material effect on its condensed consolidated financial statements.

Recently Issued Accounting Pronouncements

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. For public business entities, this ASU is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. The Company is currently assessing the impact of this pronouncement on its condensed consolidated financial statements.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The ASU provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. This ASU may be applied prospectively through December 31, 2022. The Company is currently assessing the impact of this pronouncement on its condensed consolidated financial statements.

Fair Value Measurements and Marketable Securities

3 Months Ended

Apr. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements and Marketable Securities

The Company follows ASC 820, Fair Value Measurements, with respect to marketable securities that are measured at fair value on a recurring basis. Under the standard, fair value is defined as the exit price, or the amount that would be received to sell an asset or a liability in an orderly transaction between market participants as of the measurement date. The standard also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances.

The hierarchy is broken down into three levels as follows:

Level 1 Assets and liabilities whose values are based on unadjusted quoted market prices for identical assets and liabilities in active markets

Level 2 Assets and liabilities whose values are based on quoted prices in markets that are not active or inputs that are observable for substantially the full term of the asset or liability

Level 3 Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement

Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis are as follows:


	April 30, 2020														January 31, 2020
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(in thousands)														(in thousands)
Assets
Cash equivalents⁽¹⁾
Money market funds	$	252,523	$	—	$	—	$	252,523	$	205,379	$	—	$	—	$	205,379
Corporate debt securities	—		—		—		—		—		39,940		—		39,940
Total cash equivalents	252,523		—		—		252,523		205,379		39,940		—		245,319
Marketable securities
Corporate debt securities	—		—		—		—		—		495,022		—		495,022
U.S. treasury securities	—		—		—		—		84,431		—		—		84,431
Asset backed securities	—		—		—		—		—		67,813				67,813
Total marketable securities	—		—		—		—		84,431		562,835		—		647,266
Total assets	$	252,523	$	—	$	—	$	252,523	$	289,810	$	602,775	$	—	$	892,585

__________________________________

(1)Included in “Cash and cash equivalents” on the condensed consolidated balance sheets.

There were no transfers between the levels of the fair value hierarchy during the three months ended April 30, 2020 or April 30, 2019.

As of April 30, 2020, there were no marketable securities held by the Company and there were no securities that had been in continuous unrealized loss position. As of January 31, 2020, the amortized cost of the Company’s cash equivalents and marketable securities approximated their fair value and there were no material realized or unrealized gains or losses, either individually or in the aggregate. In addition, the securities that had been in continuous unrealized loss position per security type and in aggregate are not material as of January 31, 2020. There were no impairments considered “other-than-temporary” as it is more likely than not the Company will hold the securities until maturity or a recovery of the cost basis as of January 31, 2020.

The following table presents the contractual maturities of marketable securities as of January 31, 2020:


	Amortized cost		Fair value
	(in thousands)
Due in one year or less	$	377,722	$	378,408
Due after one year through five years	266,670		267,728
Due after five years through nineteen years	1,127		1,130
	$	645,519	$	647,266

The following summarizes the changes in strategic investments:


	April 30,		January 31,
	2020		2020
	(in thousands)
Total initial cost	$	1,000	$	1,000
Cumulative gain	—		—
Carrying value	$	1,000	$	1,000

There was no unrealized gain and loss included as an adjustment to the carrying value related to the carrying value of non-marketable securities as of April 30, 2020 and January 31, 2020.

The following summarizes the changes in the redeemable convertible preferred stock warrant liability, which is classified as a Level 3 instrument:


	Three Months Ended April 30,
	2020		2019
	(in thousands)
Balance at beginning of period	$	—	$	4,537
Adjustment resulting from change in fair value recognized in the condensed consolidated statement of operations	—		1,167

Balance at end of period	$	—	$	5,704

The fair value of the redeemable convertible preferred stock warrant liability was estimated using the Black-Scholes option-pricing model and was based on significant inputs not observable in the market, and therefore was classified as a Level 3 instrument. The inputs include the Company’s preferred stock price, expected stock price volatility, risk-free interest rate, and contractual term. A loss of $1.2 million was recorded as a component of Other income (expense), net, because of the remeasurement of the redeemable convertible preferred stock warrant liability during the three months ended April 30, 2019. Immediately prior to the closing of the IPO on June 14, 2019, the redeemable convertible preferred stock warrants converted into 336,386 warrants to purchase Class B common stock on a one-to-one basis. The redeemable convertible preferred stock warrant liability was reclassified to additional paid-in capital upon the closing of the IPO.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Balance Sheet Components

3 Months Ended

Apr. 30, 2020

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


	April 30, 2020		January 31, 2020
	(in thousands)
Prepaid expenses	$	17,495	$	20,390
Prepaid software licenses	16,013		16,645
Prepaid hosting services	7,359		8,056
Other current assets	5,007		6,523
Prepaid expenses and other current assets	$	45,874	$	51,614

Property and Equipment, Net

Property and equipment, net consisted of the following:


	April 30, 2020		January 31, 2020
	(in thousands)
Data center and other computer equipment	$	109,988	$	87,166
Capitalized internal-use software	32,613		30,354
Leasehold improvements	15,352		13,157
Purchased software	2,727		2,604
Furniture and equipment	5,329		4,835
Construction in process	30,883		47,626
	196,892		185,742
Less: Accumulated depreciation and amortization	(57,796)		(49,664)
Property and equipment, net	$	139,096	$	136,078

Construction in process mainly includes data center equipment purchased that has not yet been placed in service. As of April 30, 2020, $27.4 million of data center equipment was purchased but not yet been placed into service.

Depreciation and amortization expense of property and equipment was $8.2 million and $4.9 million during the three months ended April 30, 2020 and April 30, 2019, respectively.

There were no impairments of internal-use software during the three months ended April 30, 2020 and April 30, 2019. The Company capitalized $2.3 million and $2.0 million in internal-use software during the three months ended April 30, 2020 and April 30, 2019, respectively. Amortization expense associated with internal-use software totaled $1.9 million and $1.5 million during the three months ended April 30, 2020 and April 30, 2019, respectively. The net book value of capitalized internal-use software was $13.8 million and $13.4 million as of April 30, 2020 and January 31, 2020, respectively.

Intangible Assets, Net

Total intangible assets, net consisted of the following:


	April 30, 2020							Weighted-Average Remaining Useful Life
	Gross Carrying Amount		Accumulated Amortization		Net Amount
	(in thousands)							(in months)
Developed technology	$	1,228	$	1,120	$	108	6
Customer relationships	599		306		293		30
Non-compete agreement	120		102		18		6
Total	$	1,947	$	1,528	$	419


	January 31, 2020							Weighted-Average Remaining Useful Life
	Gross Carrying Amount		Accumulated Amortization		Net Amount
	(in thousands)							(in months)
Developed technology	$	1,238	$	1,067	$	171	9
Customer relationships	607		280		327		33
Non-compete agreement	121		92		29		9
Total	$	1,966	$	1,439	$	527

Amortization of developed technology, customer relationships, and non-compete agreement are recorded within cost of revenue, sales and marketing expense, and research and development expense, respectively, in the condensed consolidated statements of operations. Amortization expense of intangible assets was $0.1 million during both the three months ended April 30, 2020 and April 30, 2019.

The estimated aggregate future amortization expense of intangible assets as of April 30, 2020 is as follows:


	Total
	(in thousands)
Fiscal 2021 (remaining nine months)	$	217
Fiscal 2022	119
Fiscal 2023	83


Total amortization expense	$	419

The developed technology, customer relationships, and non-compete agreement assets are being amortized over 3 years, 5 years, and 3 years, respectively.

Accrued Expenses

Accrued expenses consisted of the following:


	April 30, 2020		January 31, 2020
	(in thousands)
Web hosting services	$	12,009	$	16,367
Other accrued expenses	6,180		7,459
Accrued marketing	4,476		1,970
Accrued legal and accounting	2,112		1,770
Accrued purchases of property and equipment	1,619		2,789
Accrued expenses	$	26,396	$	30,355

Accrued Payroll and Benefits

Accrued payroll and benefits consisted of the following:


	April 30, 2020		January 31, 2020
	(in thousands)
Employee Stock Purchase Plan	$	15,041	$	6,560
Accrued commissions	9,440		15,399
Accrued bonuses	7,164		8,171
Accrued payroll and related expenses	5,813		6,680
Accrued payroll and benefits	$	37,458	$	36,810

Secured Revolving Credit Facility	3 Months Ended
Secured Revolving Credit Facility	Apr. 30, 2020
Debt Disclosure [Abstract]
Secured Revolving Credit Facility	5. Secured Revolving Credit Facility In April 2019, the Company entered into a Credit Agreement with Silicon Valley Bank and other lenders, to provide a revolving line of credit of up to $150.0 million, including a letter of credit sub-facility in the aggregate amount of $10.0 million, and a swingline sub-facility in the aggregate amount of $10.0 million. The Company also has the option to request an incremental facility of up to an additional $75.0 million from one or more of the lenders under the Credit Agreement. The amount the Company may borrow under the Credit Agreement may not exceed the lesser of $150.0 million or the Company’s ordinary course recurring subscription revenue for the most recent month, as determined under the Credit Agreement, multiplied by a number that is (i) 6, for the first year after entry into the Credit Agreement; (ii) 5, for the second year after entry into the Credit Agreement; and (iii) 4, thereafter. Under the terms of the Credit Agreement, revolving loans may be either Eurodollar Loans or ABR Loans. Outstanding Eurodollar Loans incur interest at the Eurodollar Rate, which is defined in the Credit Agreement as LIBOR (or any successor thereto), plus a margin between 2.50% and 3.00%, depending on usage. Outstanding ABR Loans incur interest at the highest of (a) the Prime Rate, as published by the Wall Street Journal, (b) the federal funds rate in effect for such day plus 0.50%, and (c) the Eurodollar Rate plus 1.00%, in each case plus a margin between 1.50% and 2.00%, depending on usage. The Company will be charged a commitment fee of 0.20% to 0.30% per year for committed but unused amounts. The Credit Agreement will terminate on April 19, 2022. The Credit Agreement is collateralized by substantially all of the Company’s current and future property, rights, and assets, including, but not limited to, cash, goods, equipment, contractual rights, financial assets, and intangible assets of the Company and its subsidiaries. The Credit Agreement contains covenants limiting the ability to, among other things, dispose of assets, undergo a change in control, merge or consolidate, make acquisitions, incur debt, incur liens, pay dividends, repurchase stock, and make investments, in each case subject to certain exceptions. The Credit Agreement also contains financial covenants requiring the Company to maintain the year-over-year growth rate of its ordinary course recurring subscription revenue above specified rates and to maintain minimum liquidity at specified levels. The Company was in compliance with the financial covenants as of April 30, 2020. The Credit Agreement contains events of default that include, among others, non-payment of principal, interest, or fees, breach of covenants, inaccuracy of representations and warranties, cross defaults to certain other indebtedness, bankruptcy and insolvency events, and material judgments. No amounts were outstanding under the Credit Agreement as of April 30, 2020 and January 31, 2020.

Income Taxes	3 Months Ended
Income Taxes	Apr. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recognized an income tax expense of $1.0 million and $0.6 million for the three months ended April 30, 2020 and April 30, 2019, respectively. The tax expense for the three months ended April 30, 2020 was primarily attributable to pre-tax foreign earnings. The Company’s effective tax rates of (5.7)% and (2.3)% for the three months ended April 30, 2020 and April 30, 2019, respectively, differ from the U.S. statutory tax rate primarily due to U.S. losses for which there is no benefit and the tax rate differences between the United States and foreign countries. The Company has a full valuation allowance on its U.S. federal and state and its U.K. deferred tax assets. As a result, consistent with the prior year, the Company is unable to record a tax benefit on these losses because of uncertainty of future profitability. On March 27, 2020, the United States enacted the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), as a response to the economic uncertainty resulting from the global COVID-19 pandemic. The CARES Act did not have a material impact on the Company’s condensed consolidated financial statements for the three months ended April 30, 2020. The Company continues to monitor any effects that may result from the CARES Act.

Leases

3 Months Ended

Apr. 30, 2020

Leases [Abstract]

Leases

Operating Leases

The Company has entered into non-cancelable operating lease agreements with various expiration dates through October 2026. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore are not factored into the determination of lease payments.

Total operating lease costs was $2.3 million, excluding short-term leases costs and variable lease costs for the three months ended April 30, 2020. There was no sublease income for the three months ended April 30, 2020. Total lease expense recognized prior to the adoption of Topic 842 was $1.8 million for the three months ended April 30, 2019.

For the three months ended April 30, 2020, cash paid for amounts included in the measurement of operating lease liabilities was $2.4 million. There were no operating lease liabilities arising from obtaining operating right of-use assets during the three months ended April 30, 2020.

As of April 30, 2020, the weighted-average remaining lease term is 4.8 years, and the weighted-average discount rate is 5.9%.

The component of lease costs was as follows:


	April 30, 2020
	(in thousands)
Lease cost
Operating lease cost	$	2,283
Short-term lease cost	493
Variable lease cost	836
Total lease cost	$	3,612

As of April 30, 2020, the Company has entered into non-cancelable operating leases with a term greater than 12 months that have not yet commenced with undiscounted future minimum payments of $7.1 million, which are excluded from the above table. These operating leases will commence between May 2020 and April 2025 with lease terms of 5.0 years.

The maturities of the Company’s non-cancelable operating lease liabilities are as follows:


	April 30, 2020
	(in thousands)
Fiscal 2021 (remaining nine months)	$	5,481
Fiscal 2022	9,746
Fiscal 2023	9,307
Fiscal 2024	9,258
Fiscal 2025	8,414
Thereafter	3,651
Total operating lease payments	45,857
Less: imputed interest	6,277
Present value of operating lease liabilities	$	39,580

Future minimum payments under non-cancelable operating leases determined using the prior accounting guidance consisted of the following as of January 31, 2020:


	Real Estate Arrangements
	(in thousands)
Fiscal 2021	$	9,958
Fiscal 2022	9,869
Fiscal 2023	9,377
Fiscal 2024	9,370
Fiscal 2025	8,441
Thereafter	3,671
Total	$	50,686

Equity Transactions	3 Months Ended
Equity Transactions	Apr. 30, 2020
Equity [Abstract]
Equity Transactions	Equity Transactions Common Stock In connection with the IPO, on June 14, 2019, the Company filed an Amended and Restated Certificate of Incorporation which authorizes the issuance of 2,000,000,000 shares of Class A common stock with a par value of $0.0005 per share, 300,000,000 shares of Class B common stock with a par value of $0.0005 per share, and 100,000,000 shares of undesignated preferred stock with a par value of $0.0005 per share. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion rights. Each share of Class A common stock is entitled to one vote per share. Each share of Class B common stock is entitled to ten votes per share and is convertible into one share of Class A common stock. Class A and Class B common stockholders are not entitled to receive dividends unless declared by the Company’s board of directors.

Stock-Based Compensation

3 Months Ended

Apr. 30, 2020

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

. Stock-Based Compensation

Stock Incentive Plan

In May 2019, the Company’s board of directors adopted, and the stockholders approved the CrowdStrike Holdings, Inc. 2019 Equity Incentive Plan (the “2019 Plan”) with the purpose of granting stock-based awards to employees, directors, officers and consultants, including stock options, restricted stock awards, restricted stock units and performance-based restricted stock units. A total of 8,750,000 shares of Class A common stock were initially available for issuance under the 2019 Plan. The Company’s compensation committee administers the 2019 Plan. The number of shares of the Company’s common stock available for issuance under the 2019 Plan is subject to an annual increase on the first day of each fiscal year beginning on February 1, 2020, equal to the lesser of: (i) two percent (2.0%) of outstanding shares of the Company’s capital stock as of the last day of the immediately preceding fiscal year or (ii) such other amount as the Company’s board of directors may determine.

The 2011 Plan was terminated on June 10, 2019, which was the business day prior to the effectiveness of the Company’s registration statement on Form S-1 used in connection with the Company’s IPO, and stock-based awards are no longer granted under the 2011 Plan. Any shares underlying stock options that expire or terminate or are forfeited or repurchased under the 2011 Plan will be automatically transferred to the 2019 Plan.

Stock Options

The Company records compensation expense for employee stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes option-pricing model with the assumptions included in the table below. The expected term represents the period that the Company’s share-based awards are expected to be outstanding. The expected term assumptions were determined based on the vesting terms, exercise terms, and contractual lives of the options. The expected stock price volatility is based upon comparable public company data. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated option life.

The fair value of each option was estimated on the date of grant using the following assumptions during the period:


	Three MonthsEnded April 30, 2019
Expected term (in years)	6.05
Risk-free interest rate	2.4%
Expected stock price volatility	37.9%
Dividend yield	—	%

There were no stock options granted during the three months ended April 30, 2020.

The following table is a summary of stock option activity for the three months ended April 30, 2020:


	Number of Shares	Weighted-Average Exercise Price Per Share
	(in thousands)
Options outstanding at January 31, 2020	14,689	$	5.52

Exercised	(2,056)	$	3.11
Canceled	(161)	$	8.48
Options outstanding at April 30, 2020	12,472	$	5.88








Options vested and expected to vest at April 30, 2020	12,472	$	5.88
Options exercisable at April 30, 2020	6,426	$	3.80

Options exercisable include 732,200 options that were unvested as of April 30, 2020.

The aggregate intrinsic value of options vested and exercisable was $410.4 million and $469.6 million as of April 30, 2020 and January 31, 2020, respectively. The weighted-average remaining contractual term of options vested and exercisable was 6.8 years and 6.7 years as of April 30, 2020 and January 31, 2020, respectively.

No options were granted during the three months ended April 30, 2020. The weighted-average grant date fair values of all options granted was $8.76 per share during the three months ended April 30, 2019. The total intrinsic value of all options exercised was $111.2 million and $8.8 million during the three months ended April 30, 2020 and April 30, 2019, respectively.

The aggregate intrinsic value of stock options outstanding as of April 30, 2020 and January 31, 2020 was $770.5 million and $816.3 million, respectively, which represents the excess of the fair value of the Company’s common stock over the exercise price of the options multiplied by the number of options outstanding. The weighted-average remaining contractual term of stock options outstanding was 7.4 years as of both April 30, 2020 and January 31, 2020.

Total unrecognized stock-based compensation expense related to unvested options was $30.4 million as of April 30, 2020. This expense is expected to be amortized on a straight-line basis over a weighted-average vesting period of 2.0 years. Total unrecognized stock-based compensation expense related to unvested options was $34.7 million as of January 31, 2020. This expense is expected to be amortized on a straight-line basis over a weighted-average vesting period of 2.1 years.

Early Exercise of Employee Options

The 2011 Stock Plan allows for the early exercise of stock options for certain individuals as determined by the Board of Directors. The consideration received for an early exercise of an option is a deposit of the exercise price and the related dollar amount is recorded as a liability for early exercise of unvested stock options in the condensed consolidated balance sheets. This liability is reclassified to additional paid-in capital as the awards vest. If a stock option is early exercised, the unvested shares may be repurchased by the Company in case of employment termination or for any reason, including death and disability, at the price paid by the purchaser for such shares. There were no issued shares of common stock related to early exercised stock options for the three months ended April 30, 2020. As of April 30, 2020, the number of shares of common stock related to early exercised stock options subject to repurchase was 849,356 shares for $7.8 million. As of January 31, 2020, the number of shares of common stock related to early exercised stock options subject to repurchase was 984,417 shares for $8.7 million. Common stock purchased pursuant to an early exercise of stock options is not deemed to be outstanding for accounting purposes until those shares vest. The Company includes unvested shares subject to repurchase in the number of shares outstanding in the condensed consolidated statement of redeemable convertible preferred stock and stockholders’ equity (deficit).

Restricted Stock Units

Beginning in September 2018, the Company began issuing RSUs to certain employees. These RSUs include a service-based vesting condition and a performance-based vesting condition. The service-based vesting condition is generally satisfied based on one of three vesting schedules: (i) vesting of one-fourth of the RSUs on the first “Company vest date” (defined as March 20, June 20, September 20, or December 20) on or following the one-year anniversary of the vesting commencement date with the remainder of the RSUs vesting in twelve equal quarterly installments thereafter, subject to continued service, (ii) vesting in sixteen equal quarterly installments beginning on December 20, 2018, subject to continued service, or (iii) vesting in eight equal quarterly installments beginning on December 20, 2022, subject to continued service. The performance-based vesting condition is satisfied on the earlier of (i) a change in control, in which the consideration paid to holders of shares is either cash, publicly traded securities, or a combination thereof, or (ii) the first Company vest date to occur following the expiration of the lock-up period upon an IPO, subject to continued service through such change in control or lock-up expiration, as applicable. None of the RSUs vest unless the performance-based vesting condition is satisfied. Upon the completion of the IPO, the performance-based vesting condition was met and the Company recognized $17.3 million of deferred expense related to RSUs as of that date in its condensed consolidated statement of operations. Upon its IPO, the Company began issuing RSUs to its employees that generally have only a service-based vesting condition. The valuation of such RSUs is based solely on the fair value of the Company’s stock price on the date of grant.

Expense for RSUs that have a service-based vesting condition only are being amortized on a straight-line basis. Expense for RSUs that have both a service-based and a performance-based vesting condition are being amortized under the accelerated attribution method. Total unrecognized stock-based compensation expense related to unvested RSUs was $253.6 million as of April 30, 2020. This expense is expected to be amortized (subject to acceleration or straight-line basis) over a weighted-average vesting period of 2.8 years.

Performance-based Stock Units

Performance-based stock units (“PSUs”) granted under the 2019 Plan are subject to both a service-based vesting condition and a performance-based vesting condition. PSUs generally vest over a four-year period based on the achievement of specified performance targets and subject to continued service through the applicable vesting dates. The compensation cost is recognized over the requisite service period when it is probable that the performance condition will be satisfied. During the first quarter of the fiscal year, the Company’s compensation committee approved PSUs for certain employees. The performance goal for the grants primarily related to the revenue growth percentage for the fiscal year ended January 31, 2021. The number of PSUs earned corresponds to the performance period of fiscal year 2021, which can range between 0% and 130% of the target number of shares granted depending on the Company’s actual performance.

Expense for PSUs are being amortized under the accelerated attribution method and may be adjusted over the vesting period based on interim estimates of performance against the pre-set objectives. Total unrecognized stock-based compensation expense related to unvested PSUs was $40.1 million as of April 30, 2020. This expense is expected to be amortized over a weighted-average vesting period of 2.0 years.

The following table is a summary of RSU and PSU activities for the three months ended April 30, 2020:


	Number of Shares	Weighted- Average Grant Date Fair Value Per Share
	(in thousands)
RSUs and PSUs outstanding at January 31, 2020	6,063	$	29.82
Granted	2,824	$	57.94
Vested	(501)	$	22.45
Forfeited	(141)	$	26.25
RSUs and PSUs outstanding at April 30, 2020	8,245	$	39.96








RSUs and PSUs expected to vest at April 30, 2020	8,245	$	39.96

Employee Stock Purchase Plan

In May 2019, the board of directors adopted, and the stockholders approved the CrowdStrike Holdings, Inc. 2019 Employee Stock Purchase Plan (“ESPP”), which became effective on June 10, 2019, which was the business day prior to the effectiveness of the Company’s registration statement on Form S-1 used in connection with the Company’s IPO. A total of 3,500,000 shares of Class A common stock were initially reserved for issuance under the ESPP. The Company’s compensation committee administers the ESPP. The number of shares of common stock available for issuance under the ESPP is subject to an annual increase on the first day of each fiscal year beginning on February 1, 2020, equal to the lesser of: (i) one percent (1%) of outstanding shares of the Company’s capital stock as of the last day of the immediately preceding fiscal year or (ii) such other amount as its board of directors may determine.

The ESPP provides for consecutive offering periods that will typically have a duration of approximately 24 months in length and is comprised of four purchase periods of approximately six months in length. The offering periods are scheduled to start on the first trading day on or after June 11 and December 11 of each year. The first offering period commenced on June 11, 2019 and is scheduled to end on the first trading day on or before June 10, 2021.

The ESPP provides eligible employees with an opportunity to purchase shares of the Company’s Class A common stock through payroll deductions of up to 15% of their eligible compensation. A participant may purchase a maximum of 2,500 shares of common stock during a purchase period. Amounts deducted and accumulated by the participant are used to purchase shares of common stock at the end of each six-month purchase period. The purchase price of the shares shall be 85% of the lower of the fair market value of the Class A common stock on (i) the first trading day of the applicable offering period and (ii) the last trading day of each purchase period in the related offering period. Participants may end their participation at any time during an offering period and will be paid their accrued contributions that have not yet been used to purchase shares of common stock. Participation ends automatically upon termination of employment.

Employee payroll contributions ultimately used to purchase shares are reclassified to stockholders’ equity on the purchase date. ESPP employee payroll contributions accrued at April 30, 2020 totaled $15.0 million and are included within accrued payroll and benefits in the condensed consolidated balance sheets.

The following table summarizes the assumptions used in the Black-Scholes option-pricing model to determine fair value of our common shares to be issued under the ESPP for the offering periods beginning in June 2019:


	Three Months Ended April 30, 2020
Expected term (in years)	0.5 - 2.0
Risk-free interest rate	1.6% - 2.0%
Expected stock price volatility	30.1- 35.7%
Dividend yield	—	%

Stock-Based Compensation Expense

Stock-based compensation expense included in the condensed consolidated statements of operations is as follows:


	Three Months Ended April 30,
	2020		2019
	(in thousands)
Subscription cost of revenue	$	1,995	$	265
Professional services cost of revenue	971		103
Sales and marketing	8,687		1,518
Research and development	4,900		681
General and administrative	7,085		1,185
Total stock-based compensation expense	$	23,638	$	3,752

Revenue, Deferred Revenue and Remaining Performance Obligations

3 Months Ended

Apr. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue, Deferred Revenue and Remaining Performance Obligations

. Revenue, Deferred Revenue and Remaining Performance Obligations

The following table summarizes the revenue from contracts by type of customer:


	Three Months Ended April 30,
	2020						2019
	Amount		% Revenue		Amount		% Revenue
	(in thousands, except percentages)
Channel Partners	$	130,280	73	%	$	64,460	67	%
Direct Customers	47,798		27	%	31,617		33	%
Total revenue	$	178,078	100	%	$	96,077	100	%

The Company uses channel partners to complement direct sales and marketing efforts. The partners place an order with the Company after negotiating the order directly with an end customer. The partners negotiate pricing with the end customer and in some rare instances are responsible for certain support levels directly with the end customer. The Company’s contract is with the partner and payment to the Company is not contingent on the receipt of payment from the end customer. The Company recognizes the contractual amount charged to the partners as revenue ratably over the term of the arrangement once access to the Company’s solution has been provided to the end customer.

The Company also uses referral partners who refer customers in exchange for a referral fee. The Company negotiates pricing and contracts directly with the end customer. The Company recognizes revenue from the sales to the end customers, ratably over the term of the contract, once access to the Company’s solution has been provided to the end customer.

The following table summarizes the revenue by region based on the shipping address of customers who have contracted to use the Company’s platform or service:


	Three Months Ended April 30,
	2020						2019
	Amount		% Revenue		Amount		% Revenue
	(in thousands, except percentages)
United States	$	129,481	73	%	$	72,307	75	%
Europe, Middle East, and Africa	25,042		14	%	13,414		14	%
Asia Pacific	14,901		8	%	6,230		7	%
Other	8,654		5	%	4,126		4	%
Total revenue	$	178,078	100	%	$	96,077	100	%

No single country other than the United States represented 10% or more of the Company’s total revenue during the three and three months ended April 30, 2020 and April 30, 2019.

Contract Balances

Contract liabilities consist of deferred revenue and include payments received in advance of performance under the contract. Such amounts are recognized as revenue over the contractual period. For the three months ended April 30, 2020 and April 30, 2019, the Company recognized revenue of $141.5 million and $79.9 million, respectively, that were included in the corresponding contract liability balance at the beginning of the period.

The Company receives payments from customers based upon contractual billing schedules. Accounts receivable are recorded when the right to consideration becomes unconditional. Payment terms on invoiced amounts are typically 30 - 60 days. Contract assets include amounts related to the contractual right to consideration for both completed and partially completed performance obligations that may not have been invoiced.

Changes in deferred revenue were as follows (in thousands):


	Three Months Ended April 30,
	2020		2019
	Carrying Amount

Beginning Balance	$	571,168	$	290,067
Additions to deferred revenue	242,883		121,222
Recognition of deferred revenue	(178,078)		(96,077)
Ending Balance	$	635,973	$	315,212

Remaining Performance Obligations

The Company’s subscription contracts with its customers have a typical term of one to three years and most subscription contracts are non-cancelable. Customers typically have the right to terminate their contracts for cause as a result of the Company’s failure to perform. As of April 30, 2020, the aggregate amount of the transaction price allocated to remaining performance obligations was $817.5 million. The Company expects to recognize 70% of the remaining performance obligations in the 12 months following April 30, 2020, with the remainder to be recognized thereafter.

Costs to Obtain and Fulfill a Contract

The Company capitalizes referral fees paid to partners and sales commission and associated payroll taxes paid to internal sales personnel that are incremental to the acquisition of channel partner and direct customer contracts and would not have occurred absent the customer contract. These costs are recorded as deferred contract acquisition costs, current and deferred contract acquisition costs, noncurrent on the condensed consolidated balance sheets.

Sales commissions for renewal of a contract are not considered commensurate with the commissions paid for the acquisition of the initial contract or follow-on upsell given the substantive difference in commission rates in proportion to their respective contract values. Commissions, including referral fees paid to channel partners, paid upon the initial acquisition of a contract or subsequent upsell are amortized over an estimated period of benefit of 4 years while commissions paid for renewal contracts are amortized over the contractual term of the renewals. Sales commissions associated with professional service contracts are amortized ratably over an estimated period of benefit of six months and included in sales and marketing expense in the condensed consolidated statements of operations. In determining the period of benefit for commissions paid for the acquisition of the initial contract, the Company took into consideration the expected subscription term and expected renewals of customer contracts, the historical duration of relationships with customers, customer retention data, and the life of the developed technology. The Company periodically reviews the carrying amount of deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact the period of benefit of these deferred costs. The Company did not recognize any material impairment losses of deferred contract acquisition costs during the three months ended April 30, 2020 and April 30, 2019, respectively.

The following table summarizes the activity of deferred contract acquisition costs:


	Three Months Ended April 30,
	2020		2019
	(in thousands)
Beginning balance	$	114,206	$	63,071
Capitalization of contract acquisition costs	22,563		8,471
Amortization of deferred contract acquisition costs	(13,451)		(7,345)
Ending balance	$	123,318	$	64,197

Deferred contract acquisition costs, current	$	53,410	$	26,193
Deferred contract acquisition costs, noncurrent	69,908		38,004
Total deferred contract acquisition costs	$	123,318	$	64,197

Commitments and Contingencies

3 Months Ended

Apr. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

11. Commitments and Contingencies

Purchase Obligations

The Company enters into long-term non-cancelable agreements with providers to purchase data center capacity, such as bandwidth and colocation space, for the Company’s cloud platform. As of April 30, 2020, the Company is committed to spend $150.0 million on such agreements through 2027. These obligations are included in purchase obligations below.

In the normal course of business, the Company enters into non-cancelable purchase commitments with various parties to purchase products and services such as technology, equipment, office renovations, corporate events, and consulting services. A summary of noncancelable purchase obligations as of April 30, 2020 with expected date of payment is as follows:


	Total Commitments
	(in thousands)
Fiscal 2021 (remaining nine months)	$	67,113
Fiscal 2022	90,298
Fiscal 2023	10,156
Fiscal 2024	10,379
Fiscal 2025	2,721
Thereafter	3,221
Total purchase commitments	$	183,888

Letters of Credit

As of April 30, 2020 and January 31, 2020, the Company had an unused standby letter of credit for $0.4 million and $0.6 million, respectively, securing its headquarters facility in Sunnyvale, California. As of April 30, 2020 and January 31, 2020, the Company had an unused standby letter of credit for $1.0 million, securing its facility in Austin, Texas.

Litigation

The Company is currently involved in proceedings before the Trademark Trial and Appeal Board (“TTAB”) at the U.S. Patent and Trademark Office (the “USPTO”) regarding its U.S. trademark registrations for “CrowdStrike Falcon” and its U.S. application to register its “Falcon OverWatch” trademark. On November 23, 2016, Fair Isaac Corporation (“FICO”) filed a Petition for Cancellation of the Company’s “CrowdStrike Falcon” trademark registrations and a Notice of Opposition against the Company’s “Falcon OverWatch” trademark application before the USPTO, TTAB. On January 3, 2017, the Company filed answers to both the cancellation and opposition proceedings, and the proceedings thereafter were consolidated. On November 21, 2018, the Company filed a Petition for Partial Cancellation or Amendment of one of FICO’s “Falcon” trademark registrations, and on December 10, 2018, the parties filed a joint request to consolidate the proceedings and adjust the schedule. On January 16, 2019, FICO moved to dismiss the Company’s petition. On July 2, 2019, the TTAB consolidated the proceedings and granted FICO’s motion to dismiss with leave to amend. On July 22, 2019, the Company filed its Amended Petition for Cancellation or Amendment and on August 12, 2019, FICO moved to dismiss the Company’s Amended Petition for Cancellation or Amendment. On January 31, 2020, the TTAB denied the motion to dismiss as to two grounds for partial cancellation and as to the request for amendment, and granted the motion as to a third ground for partial cancellation of one of FICO’s “Falcon” registrations and the claim for abandonment of both of FICO’s “Falcon” trademark registrations, with the right to reassert both claims for relief. The TTAB also set a new schedule for the consolidated proceedings, with trial periods set to begin on December 6, 2020. On March 18, 2020, the Company filed a motion for leave to file a Second Amended Petition to include a claim for abandonment for two of FICO’s “Falcon” trademark registrations. The Company is vigorously defending the case, but given the early stage, although a loss may reasonably be possible, the Company is unable to predict the likelihood of success of FICO’s claims or estimate a loss or a range of loss. As a result, no liability has been recorded as of April 30, 2020 or January 31, 2020.

In addition, from time to time the Company is a party to various litigation matters and subject to claims that arise in the ordinary course of business. In addition, third parties may from time to time assert claims against the Company in the form of letters and other communications. For any claims for which the Company believes a liability is both probable and reasonably estimable, the Company records a liability in the period for which it makes this determination. There is no pending or threatened legal proceeding to which the Company is a party that, in the Company’s opinion, is likely to have a material adverse effect on its condensed consolidated financial statements; however, the results of litigation and claims are inherently unpredictable. Regardless of the outcome, litigation can have an adverse impact on the Company’s business because of defense and settlement costs, diversion of management resources, and other factors. In addition, the expense of litigation and the timing of this expense from period to period are difficult to estimate, subject to change and could adversely affect the Company’s condensed consolidated financial statements.

Warranties and Indemnification

The Company’s cloud computing services are typically warranted to perform in a manner consistent with general industry standards that are reasonably applicable and materially in accordance with the Company’s online help documentation under normal use and circumstances.

The Company’s arrangements generally include certain provisions for indemnifying customers against liabilities if its products or services infringe a third party’s intellectual property rights. In addition, for its Falcon Complete module customers, the Company offers a limited warranty, subject to certain conditions, to cover certain costs incurred by the customer in case of a cybersecurity breach. The Company has entered into an insurance policy to cover its potential liability arising from this limited warranty arrangement. To date, the Company has not incurred any material costs because of such obligations and has not accrued any liabilities related to such obligations in the condensed consolidated financial statements.

The Company has also agreed to indemnify its directors and certain executive officers for costs associated with any fees, expenses, judgments, fines and settlement amounts incurred by any of these persons in any action or proceeding to which any of those persons is, or is threatened to be, made a party by reason of the person’s service as a director or officer, including any action by the Company, arising out of that person’s services as the Company’s director or officer or that person’s services provided to any other company or enterprise at the Company’s request. The Company maintains director and officer insurance coverage that would generally enable the Company to recover a portion of any future amounts paid. The Company may also be subject to indemnification obligations by law with respect to the actions of its employees under certain circumstances and in certain jurisdictions. No liabilities have been accrued associated with this indemnification provision as of April 30, 2020 or January 31, 2020.

Geographic Information

3 Months Ended

Apr. 30, 2020

Geographic Areas, Long-Lived Assets [Abstract]

Geographic Information

The Company’s long-lived assets are composed of property and equipment, net, and operating lease right-of-use assets, are summarized by geographic area as follows:


	April 30, 2020		January 31, 2020
	(in thousands)
United States	$	157,071	$	125,409
International	17,763		10,669
Total property and equipment, net and operating lease right-of-use assets	$	174,834	$	136,078

No single country other than the United States represented 10% or more of the Company’s total long-lived assets as of April 30, 2020 or January 31, 2020

Related Party Transactions	3 Months Ended
Related Party Transactions	Apr. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Subscription and Professional Services Revenue from Related Parties During the three months ended April 30, 2020 and 2019, certain investors and companies with whom the Company’s Board of Directors are affiliated with purchased subscriptions and professional services. The Company recorded revenue from subscriptions and professional services from related parties of $0.9 million and $2.3 million during the three months ended April 30, 2020 and April 30, 2019, respectively. Accounts receivable associated with these related parties was $0.2 million as of April 30, 2020 and January 31, 2020. Accounts Payable to Related Parties The Company purchased goods and services totaling $0.8 million and $0.6 million, respectively, from certain investors and companies with whom its Board of Directors are affiliated with during the three months ended April 30, 2020 and 2019. The accounts payable to such vendors was none as of April 30, 2020 and January 31, 2020.

Net Loss Per Share Attributable to Common Stockholders

3 Months Ended

Apr. 30, 2020

Earnings Per Share [Abstract]

Net Loss Per Share Attributable to Common Stockholders

. Net Loss Per Share Attributable to Common Stockholders

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):


	Three Months Ended April 30,
	2020		2019
Common Stock

Net loss attributable to common stockholders	$	—	$	(25,977)

Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	—		47,205

Net loss per share attributable to common stockholders, basic and diluted	$	—	$	(0.55)

Class A Common Stock

Net loss attributable to common stockholders	$	(11,263)	$	—

Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	124,886		—

Net loss per share attributable to common stockholders, basic and diluted	$	(0.09)	$	—

Class B Common Stock

Net loss attributable to common stockholders	$	(7,959)	$	—

Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	88,243		—

Net loss per share attributable to common stockholders, basic and diluted	$	(0.09)	$	—

Since the Company was in a net loss position for all periods presented, basic net loss per share is the same as diluted net loss per share as the inclusion of all potential common shares outstanding would have been antidilutive. The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows:


	April 30, 2020	April 30, 2019
	(in thousands)
Shares of common stock issuable upon conversion of redeemable convertible preferred stock	—	131,268
Shares of common stock issuable upon conversion of redeemable convertible preferred stock warrants	—	336
Shares of common stock subject to repurchase from outstanding stock options	849	466
RSUs and PSUs subject to future vesting	8,245	—
Shares of common stock issuable from stock options	12,472	26,200
Share purchase rights under the employee stock purchase plan	1,426	—
Potential common shares excluded from diluted net loss per share	22,992	158,270

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Apr. 30, 2020

Accounting Policies [Abstract]

Basis of Presentation

The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles in the United States of America (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP have been condensed or omitted, and accordingly the balance sheet as of January 31, 2020, and related disclosures, have been derived from the audited consolidated financial statements at that date but do not include all of the information required by U.S. GAAP for complete consolidated financial statements. These unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements and, in the opinion of management, reflect all adjustments (consisting only of normal recurring adjustments) that are necessary for the fair statement of the Company’s condensed consolidated financial information. The results of operations for the three months ended April 30, 2020 are not necessarily indicative of the results to be expected for the year ending January 31, 2021 or for any other interim period or for any other future year.

Principles of Consolidation

JOBS Act Accounting Election

Use of Estimates

Concentration of Credit Risk and Geographic Information

Channel partners or direct customers who represented 10% or more of the Company’s accounts receivable were as follows:


	April 30,		January 31,
	2020		2020
Channel partner A	8	%	11	%
Channel partner B	4	%	10	%
Channel partner C	11	%	3	%
Customer B	7	%	20	%

Channel partners who represented 10% or more of the Company’s total revenue were as follows:


	Three Months Ended April 30,
	2020		2019
Channel partner A	9	%	12%

There were no direct customers who represented 10% or more of the Company’s total revenue during the three months ended April 30, 2020 and April 30, 2019.

Leases

Leases with a term of twelve months or less are not recognized on the consolidated balance sheets but are recognized as expense on a straight-line basis over the term of the lease.

Credit Losses - Debt Securities

Available-for-sale debt securities

Accounts Receivable

Software Implementation Costs

Recently Issued and Recently Adopted Accounting Pronouncements

Recently Adopted Accounting Pronouncements

The Company elected the following practical expedients:

The Company did not elect the hindsight practical expedient.

The adoption of this new standard at February 1, 2020, and the application of the modified retrospective transition approach resulted in the following changes:

a.Assets increased by $37.4 million, primarily representing the recognition of ROU asset for operating leases; and

Recently Issued Accounting Pronouncements

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Apr. 30, 2020

Accounting Policies [Abstract]

Schedule of Concentration of Credit Risk

Channel partners or direct customers who represented 10% or more of the Company’s accounts receivable were as follows:


	April 30,		January 31,
	2020		2020
Channel partner A	8	%	11	%
Channel partner B	4	%	10	%
Channel partner C	11	%	3	%
Customer B	7	%	20	%

Channel partners who represented 10% or more of the Company’s total revenue were as follows:


	Three Months Ended April 30,
	2020		2019
Channel partner A	9	%	12%

Fair Value Measurements and Marketable Securities (Tables)

3 Months Ended

Apr. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of Company's fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis

The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis are as follows:


	April 30, 2020														January 31, 2020
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(in thousands)														(in thousands)
Assets
Cash equivalents⁽¹⁾
Money market funds	$	252,523	$	—	$	—	$	252,523	$	205,379	$	—	$	—	$	205,379
Corporate debt securities	—		—		—		—		—		39,940		—		39,940
Total cash equivalents	252,523		—		—		252,523		205,379		39,940		—		245,319
Marketable securities
Corporate debt securities	—		—		—		—		—		495,022		—		495,022
U.S. treasury securities	—		—		—		—		84,431		—		—		84,431
Asset backed securities	—		—		—		—		—		67,813				67,813
Total marketable securities	—		—		—		—		84,431		562,835		—		647,266
Total assets	$	252,523	$	—	$	—	$	252,523	$	289,810	$	602,775	$	—	$	892,585

__________________________________

(1)Included in “Cash and cash equivalents” on the condensed consolidated balance sheets.

Schedule of Marketable Securities

The following table presents the contractual maturities of marketable securities as of January 31, 2020:


	Amortized cost		Fair value
	(in thousands)
Due in one year or less	$	377,722	$	378,408
Due after one year through five years	266,670		267,728
Due after five years through nineteen years	1,127		1,130
	$	645,519	$	647,266

Summary of changes in strategic investments

The following summarizes the changes in strategic investments:


	April 30,		January 31,
	2020		2020
	(in thousands)
Total initial cost	$	1,000	$	1,000
Cumulative gain	—		—
Carrying value	$	1,000	$	1,000

Summary of changes in the redeemable convertible preferred stock warrant liability

The following summarizes the changes in the redeemable convertible preferred stock warrant liability, which is classified as a Level 3 instrument:


	Three Months Ended April 30,
	2020		2019
	(in thousands)
Balance at beginning of period	$	—	$	4,537
Adjustment resulting from change in fair value recognized in the condensed consolidated statement of operations	—		1,167

Balance at end of period	$	—	$	5,704

Balance Sheet Components (Tables)

3 Months Ended

Apr. 30, 2020

Balance Sheet Related Disclosures [Abstract]

Summary of prepaid expenses and other current assets

Prepaid expenses and other current assets consisted of the following:


	April 30, 2020		January 31, 2020
	(in thousands)
Prepaid expenses	$	17,495	$	20,390
Prepaid software licenses	16,013		16,645
Prepaid hosting services	7,359		8,056
Other current assets	5,007		6,523
Prepaid expenses and other current assets	$	45,874	$	51,614

Schedule of total intangible assets, net

Intangible Assets, Net

Total intangible assets, net consisted of the following:


	April 30, 2020							Weighted-Average Remaining Useful Life
	Gross Carrying Amount		Accumulated Amortization		Net Amount
	(in thousands)							(in months)
Developed technology	$	1,228	$	1,120	$	108	6
Customer relationships	599		306		293		30
Non-compete agreement	120		102		18		6
Total	$	1,947	$	1,528	$	419


	January 31, 2020							Weighted-Average Remaining Useful Life
	Gross Carrying Amount		Accumulated Amortization		Net Amount
	(in thousands)							(in months)
Developed technology	$	1,238	$	1,067	$	171	9
Customer relationships	607		280		327		33
Non-compete agreement	121		92		29		9
Total	$	1,966	$	1,439	$	527

Schedule of estimated aggregate future amortization expense of intangible assets

The estimated aggregate future amortization expense of intangible assets as of April 30, 2020 is as follows:


	Total
	(in thousands)
Fiscal 2021 (remaining nine months)	$	217
Fiscal 2022	119
Fiscal 2023	83


Total amortization expense	$	419

Summary of accrued expenses

Accrued expenses consisted of the following:


	April 30, 2020		January 31, 2020
	(in thousands)
Web hosting services	$	12,009	$	16,367
Other accrued expenses	6,180		7,459
Accrued marketing	4,476		1,970
Accrued legal and accounting	2,112		1,770
Accrued purchases of property and equipment	1,619		2,789
Accrued expenses	$	26,396	$	30,355

Summary of accrued payroll and benefits

Accrued payroll and benefits consisted of the following:


	April 30, 2020		January 31, 2020
	(in thousands)
Employee Stock Purchase Plan	$	15,041	$	6,560
Accrued commissions	9,440		15,399
Accrued bonuses	7,164		8,171
Accrued payroll and related expenses	5,813		6,680
Accrued payroll and benefits	$	37,458	$	36,810

Leases (Tables)

3 Months Ended

Apr. 30, 2020

Leases [Abstract]

Schedule of Component of Lease Costs

The component of lease costs was as follows:


	April 30, 2020
	(in thousands)
Lease cost
Operating lease cost	$	2,283
Short-term lease cost	493
Variable lease cost	836
Total lease cost	$	3,612

Summary of future minimum payments under noncancelable operating leases

The maturities of the Company’s non-cancelable operating lease liabilities are as follows:


	April 30, 2020
	(in thousands)
Fiscal 2021 (remaining nine months)	$	5,481
Fiscal 2022	9,746
Fiscal 2023	9,307
Fiscal 2024	9,258
Fiscal 2025	8,414
Thereafter	3,651
Total operating lease payments	45,857
Less: imputed interest	6,277
Present value of operating lease liabilities	$	39,580

Future minimum payments under non-cancelable operating leases determined using the prior accounting guidance consisted of the following as of January 31, 2020:


	Real Estate Arrangements
	(in thousands)
Fiscal 2021	$	9,958
Fiscal 2022	9,869
Fiscal 2023	9,377
Fiscal 2024	9,370
Fiscal 2025	8,441
Thereafter	3,671
Total	$	50,686

Stock-Based Compensation (Tables)

3 Months Ended

Apr. 30, 2020

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of stock option activity

The following table is a summary of stock option activity for the three months ended April 30, 2020:


	Number of Shares	Weighted-Average Exercise Price Per Share
	(in thousands)
Options outstanding at January 31, 2020	14,689	$	5.52

Exercised	(2,056)	$	3.11
Canceled	(161)	$	8.48
Options outstanding at April 30, 2020	12,472	$	5.88








Options vested and expected to vest at April 30, 2020	12,472	$	5.88
Options exercisable at April 30, 2020	6,426	$	3.80

Schedule of restricted stock units

The following table is a summary of RSU and PSU activities for the three months ended April 30, 2020:


	Number of Shares	Weighted- Average Grant Date Fair Value Per Share
	(in thousands)
RSUs and PSUs outstanding at January 31, 2020	6,063	$	29.82
Granted	2,824	$	57.94
Vested	(501)	$	22.45
Forfeited	(141)	$	26.25
RSUs and PSUs outstanding at April 30, 2020	8,245	$	39.96








RSUs and PSUs expected to vest at April 30, 2020	8,245	$	39.96

Schedule of stock-based compensation expense

Stock-based compensation expense included in the condensed consolidated statements of operations is as follows:


	Three Months Ended April 30,
	2020		2019
	(in thousands)
Subscription cost of revenue	$	1,995	$	265
Professional services cost of revenue	971		103
Sales and marketing	8,687		1,518
Research and development	4,900		681
General and administrative	7,085		1,185
Total stock-based compensation expense	$	23,638	$	3,752

Employee Stock Purchase Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of assumptions used to estimate fair value on date of grant


	Three Months Ended April 30, 2020
Expected term (in years)	0.5 - 2.0
Risk-free interest rate	1.6% - 2.0%
Expected stock price volatility	30.1- 35.7%
Dividend yield	—	%

Stock options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of assumptions used to estimate fair value on date of grant

The fair value of each option was estimated on the date of grant using the following assumptions during the period:


	Three MonthsEnded April 30, 2019
Expected term (in years)	6.05
Risk-free interest rate	2.4%
Expected stock price volatility	37.9%
Dividend yield	—	%

Revenue, Deferred Revenue and Remaining Performance Obligations (Tables)

3 Months Ended

Apr. 30, 2020

Revenue from Contract with Customer [Abstract]

Summary of revenue from contracts by type of customer

The following table summarizes the revenue from contracts by type of customer:


	Three Months Ended April 30,
	2020						2019
	Amount		% Revenue		Amount		% Revenue
	(in thousands, except percentages)
Channel Partners	$	130,280	73	%	$	64,460	67	%
Direct Customers	47,798		27	%	31,617		33	%
Total revenue	$	178,078	100	%	$	96,077	100	%

Summary of revenue by region based on the shipping address of customers

The following table summarizes the revenue by region based on the shipping address of customers who have contracted to use the Company’s platform or service:


	Three Months Ended April 30,
	2020						2019
	Amount		% Revenue		Amount		% Revenue
	(in thousands, except percentages)
United States	$	129,481	73	%	$	72,307	75	%
Europe, Middle East, and Africa	25,042		14	%	13,414		14	%
Asia Pacific	14,901		8	%	6,230		7	%
Other	8,654		5	%	4,126		4	%
Total revenue	$	178,078	100	%	$	96,077	100	%

Summary of changes in deferred revenue

Changes in deferred revenue were as follows (in thousands):


	Three Months Ended April 30,
	2020		2019
	Carrying Amount

Beginning Balance	$	571,168	$	290,067
Additions to deferred revenue	242,883		121,222
Recognition of deferred revenue	(178,078)		(96,077)
Ending Balance	$	635,973	$	315,212

Summary of the activity of deferred contract acquisition costs

The following table summarizes the activity of deferred contract acquisition costs:


	Three Months Ended April 30,
	2020		2019
	(in thousands)
Beginning balance	$	114,206	$	63,071
Capitalization of contract acquisition costs	22,563		8,471
Amortization of deferred contract acquisition costs	(13,451)		(7,345)
Ending balance	$	123,318	$	64,197

Deferred contract acquisition costs, current	$	53,410	$	26,193
Deferred contract acquisition costs, noncurrent	69,908		38,004
Total deferred contract acquisition costs	$	123,318	$	64,197

Commitments and Contingencies (Tables)

3 Months Ended

Apr. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Summary of noncancelable purchase obligations

A summary of noncancelable purchase obligations as of April 30, 2020 with expected date of payment is as follows:


	Total Commitments
	(in thousands)
Fiscal 2021 (remaining nine months)	$	67,113
Fiscal 2022	90,298
Fiscal 2023	10,156
Fiscal 2024	10,379
Fiscal 2025	2,721
Thereafter	3,221
Total purchase commitments	$	183,888

Geographic Information (Tables)

3 Months Ended

Apr. 30, 2020

Geographic Areas, Long-Lived Assets [Abstract]

Summary by geographic area of company's long lived assets

The Company’s long-lived assets are composed of property and equipment, net, and operating lease right-of-use assets, are summarized by geographic area as follows:


	April 30, 2020		January 31, 2020
	(in thousands)
United States	$	157,071	$	125,409
International	17,763		10,669
Total property and equipment, net and operating lease right-of-use assets	$	174,834	$	136,078

Net Loss Per Share Attributable to Common Stockholders (Tables)

3 Months Ended

Apr. 30, 2020

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted net loss per share attributable to common stockholders"

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):


	Three Months Ended April 30,
	2020		2019
Common Stock

Net loss attributable to common stockholders	$	—	$	(25,977)

Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	—		47,205

Net loss per share attributable to common stockholders, basic and diluted	$	—	$	(0.55)

Class A Common Stock

Net loss attributable to common stockholders	$	(11,263)	$	—

Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	124,886		—

Net loss per share attributable to common stockholders, basic and diluted	$	(0.09)	$	—

Class B Common Stock

Net loss attributable to common stockholders	$	(7,959)	$	—

Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	88,243		—

Net loss per share attributable to common stockholders, basic and diluted	$	(0.09)	$	—

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows:


	April 30, 2020	April 30, 2019
	(in thousands)
Shares of common stock issuable upon conversion of redeemable convertible preferred stock	—	131,268
Shares of common stock issuable upon conversion of redeemable convertible preferred stock warrants	—	336
Shares of common stock subject to repurchase from outstanding stock options	849	466
RSUs and PSUs subject to future vesting	8,245	—
Shares of common stock issuable from stock options	12,472	26,200
Share purchase rights under the employee stock purchase plan	1,426	—
Potential common shares excluded from diluted net loss per share	22,992	158,270

Description of Business and Basis of Presentation (Details) $ / shares in Units, $ in Millions		3 Months Ended
	Jun. 14, 2019 USD ($) $ / shares shares	Apr. 30, 2020 modules
Description of Business and Basis of Presentation
Number of cloud modules \| modules		11
Class A common stock \| IPO
Description of Business and Basis of Presentation
Common stock issued (in shares)	20,700,000
Public offering price (in usd per share) \| $ / shares	$ 34.00
Net proceeds from issuance of common stock from IPO \| $	$ 659.2
Underwriters' discounts and commissions and estimated offering expenses \| $	$ 44.8
Common stock conversion ratio	1
Class B common stock \| IPO
Description of Business and Basis of Presentation
Number of shares issued in conversion of common stock (in shares)	131,267,586
Common stock conversion ratio	1
Conversion of warrants, warrants issued (in shares)	336,386
Warrant conversion ratio	1

Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	Apr. 30, 2020 USD ($) modules	Jan. 31, 2020 USD ($)
Concentration Risk [Line Items]
Number of marketable securities held \| modules	0
Number of securities in continuous unrealized loss position \| modules	0
Accounts receivable, allowance for doubtful accounts	$ 2,100	$ 1,100
Operating lease right-of-use assets	35,738	$ 0
Present value of operating lease liabilities	39,580
Accounting Standards Update 2016-02
Concentration Risk [Line Items]
Operating lease right-of-use assets	37,400
Liabilities \| Accounting Standards Update 2016-02
Concentration Risk [Line Items]
Present value of operating lease liabilities	$ 37,400

Summary of Significant Accounting Policies - Concentration of Credit Risk (Details)	3 Months Ended		12 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Jan. 31, 2020
Channel partner A \| Customers \| Accounts receivable
Concentration Risk [Line Items]
Concentration risk, percentage	8.00%		11.00%
Channel partner A \| Channel partners \| Revenue
Concentration Risk [Line Items]
Concentration risk, percentage	9.00%	12.00%
Channel partner B \| Customers \| Accounts receivable
Concentration Risk [Line Items]
Concentration risk, percentage	4.00%		10.00%
Channel partner C \| Customers \| Accounts receivable
Concentration Risk [Line Items]
Concentration risk, percentage	11.00%		3.00%
Customer B \| Customers \| Accounts receivable
Concentration Risk [Line Items]
Concentration risk, percentage	7.00%		20.00%

Fair Value Measurements and Marketable Securities - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Assets
Marketable securities	$ 0	$ 647,266
Recurring
Assets
Cash equivalents	252,523	245,319
Marketable securities	0	647,266
Total assets	252,523	892,585
Recurring \| Money market funds
Assets
Cash equivalents	252,523	205,379
Recurring \| Corporate debt securities
Assets
Cash equivalents	0	39,940
Marketable securities	0	495,022
Recurring \| U.S. treasury securities
Assets
Marketable securities	0	84,431
Recurring \| Asset-backed Securities
Assets
Marketable securities	0	67,813
Level 1 \| Recurring
Assets
Cash equivalents	252,523	205,379
Marketable securities	0	84,431
Total assets	252,523	289,810
Level 1 \| Recurring \| Money market funds
Assets
Cash equivalents	252,523	205,379
Level 1 \| Recurring \| U.S. treasury securities
Assets
Marketable securities	0	84,431
Level 2 \| Recurring
Assets
Cash equivalents	0	39,940
Marketable securities	0	562,835
Total assets	0	602,775
Level 2 \| Recurring \| Corporate debt securities
Assets
Cash equivalents	0	39,940
Marketable securities	0	495,022
Level 2 \| Recurring \| Asset-backed Securities
Assets
Marketable securities	$ 0	$ 67,813

Fair Value Measures and Marketable Securities - Maturities (Details) $ in Thousands	Jan. 31, 2020 USD ($)
Amortized cost
Due in one year or less, amortized cost	$ 377,722
Due after one year through five years, amortized cost	266,670
Due after five years through nineteen years, amortized cost	1,127
Total amortized cost	645,519
Fair value
Due in one year or less, fair value	378,408
Due after one year through five years, fair value	267,728
Due after five years through nineteen years, fair value	1,130
Total fair value	$ 647,266

Fair Value Measures and Marketable Securities - Strategic Investments (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 30, 2020	Jan. 31, 2020
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Total initial cost	$ 1,000	$ 1,000
Carrying value	1,000	1,000
Equity Method Investments
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cumulative gain	$ 0	$ 0

Fair Value Measurements and Marketable Securities - Additional Information (Details) - USD ($)		3 Months Ended
	Jun. 14, 2019	Apr. 30, 2020	Apr. 30, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Other-than-temporary impairments		$ 0
Adjustment resulting from change in fair value recognized in the condensed consolidated statement of operations			$ 1,200,000
IPO \| Class B common stock
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Conversion of warrants, warrants issued (in shares)	336,386

Fair Value Measurements and Marketable Securities - Redeemable convertible preferred stock warrant liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Adjustment resulting from change in fair value recognized in the condensed consolidated statement of operations		$ 1,200
Level 3 \| Redeemable convertible preferred stock warrant
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 0	4,537
Adjustment resulting from change in fair value recognized in the condensed consolidated statement of operations	0	1,167
Balance at end of period	$ 0	$ 5,704

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Prepaid expenses	$ 17,495	$ 20,390
Prepaid software licenses	16,013	16,645
Prepaid hosting services	7,359	8,056
Other current assets	5,007	6,523
Prepaid expenses and other current assets	$ 45,874	$ 51,614

Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 196,892	$ 185,742
Less: Accumulated depreciation and amortization	57,796	49,664
Property and equipment, net	139,096	136,078
Data center and other computer equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	109,988	87,166
Capitalized internal-use software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	32,613	30,354
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	15,352	13,157
Purchased software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,727	2,604
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	5,329	4,835
Construction in process
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 30,883	$ 47,626

Balance Sheet Components - Additional Information (Details) - USD ($)	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Jan. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Depreciation and amortization	$ 8,202,000	$ 4,873,000
Impairments of internal use software	0	0
Capitalized amount of internal use software	2,300,000	2,000,000.0
Amortization expense associated with internal use software	1,900,000	1,500,000
Net book value of capitalized internal use software	13,800,000		$ 13,400,000
Amortization of intangible assets	103,000	$ 146,000
Data center and other computer equipment
Finite-Lived Intangible Assets [Line Items]
Equipment purchased but not yet placed into service	$ 27,400,000
Developed technology
Finite-Lived Intangible Assets [Line Items]
Useful lives	3 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful lives	5 years
Non-compete agreement
Finite-Lived Intangible Assets [Line Items]
Useful lives	3 years

Balance Sheet Components - Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 30, 2020	Jan. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,947	$ 1,966
Accumulated Amortization	(1,528)	(1,439)
Total amortization expense	419	527
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,228	1,238
Accumulated Amortization	(1,120)	(1,067)
Total amortization expense	$ 108	$ 171
Weighted-Average Remaining Useful Life	6 years	9 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 599	$ 607
Accumulated Amortization	(306)	(280)
Total amortization expense	$ 293	$ 327
Weighted-Average Remaining Useful Life	30 years	33 years
Non-compete agreement
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 120	$ 121
Accumulated Amortization	(102)	(92)
Total amortization expense	$ 18	$ 29
Weighted-Average Remaining Useful Life	6 years	9 years

Balance Sheet Components - Future Amortization Expense (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Fiscal 2021 (remaining nine months)	$ 217
Fiscal 2022	119
Fiscal 2023	83
Total amortization expense	$ 419	$ 527

Balance Sheet Components - Accrued Expenses (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Accrued Expenses
Web hosting services	$ 12,009	$ 16,367
Other accrued expenses	6,180	7,459
Accrued marketing	4,476	1,970
Accrued legal and accounting	2,112	1,770
Accrued purchases of property and equipment	1,619	2,789
Accrued expenses	26,396	30,355
Accrued Payroll and Benefits
Employee Stock Purchase Plan	15,041	6,560
Accrued commissions	9,440	15,399
Accrued bonuses	7,164	8,171
Accrued payroll and related expenses	5,813	6,680
Accrued payroll and benefits	$ 37,458	$ 36,810

Secured Revolving Credit Facility (Details)	1 Months Ended
Secured Revolving Credit Facility (Details)	Apr. 30, 2019 USD ($) unit_Standard_item	Apr. 30, 2020 USD ($)	Jan. 31, 2020 USD ($)
Line of Credit Facility [Line Items]
Amount outstanding		$ 0	$ 0
Minimum
Line of Credit Facility [Line Items]
Commitment fee (as a percent)	0.20%
Maximum
Line of Credit Facility [Line Items]
Commitment fee (as a percent)	0.30%
Revolving line of credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 150,000,000.0
Incremental borrowing facility	$ 75,000,000.0
Borrowing facility multiple factor - first year \| unit_Standard_item	6
Borrowing facility multiple factor - second year \| unit_Standard_item	5
Borrowing facility multiple factor - thereafter	4
Letter of credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 10,000,000.0
Swingline
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 10,000,000.0
Eurodollar Loans \| LIBOR \| Minimum
Line of Credit Facility [Line Items]
Margin (as a percent)	2.50%
Eurodollar Loans \| LIBOR \| Maximum
Line of Credit Facility [Line Items]
Margin (as a percent)	3.00%
ABR Loans \| Federal funds rate
Line of Credit Facility [Line Items]
Margin (as a percent)	0.50%
ABR Loans \| Eurodollar Rate
Line of Credit Facility [Line Items]
Margin (as a percent)	1.00%
ABR Loans \| Eurodollar Rate \| Minimum
Line of Credit Facility [Line Items]
Margin (as a percent)	1.50%
ABR Loans \| Eurodollar Rate \| Maximum
Line of Credit Facility [Line Items]
Margin (as a percent)	2.00%

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Apr. 30, 2019
Income Tax Disclosure [Abstract]
Income tax expense	$ 1,036	$ 595
Effective tax rate (as a percent)	(5.70%)	(2.30%)

Leases - Additional Information (Details) - USD ($)	3 Months Ended
Leases - Additional Information (Details) - USD ($)	Apr. 30, 2020	Apr. 30, 2019
Operating Leased Assets [Line Items]
Operating lease cost	$ 2,283,000
Sublease Income	0
Rent expense		$ 1,800,000
Cash payments	2,400,000
Operating lease liabilities arising from obtaining operating right of-use assets	$ 0
Weighted average remaining lease term	4 years 9 months 18 days
Weighted average discount rate	5.90%
Lease not yet commenced undiscounted future minimum payments	$ 7,100,000
Maximum
Operating Leased Assets [Line Items]
Operating lease, contract term	5 years

Leases - Lease Cost (Details) $ in Thousands	3 Months Ended
Leases - Lease Cost (Details) $ in Thousands	Apr. 30, 2020 USD ($)
Leases [Abstract]
Operating lease cost	$ 2,283
Short-term lease cost	493
Variable lease cost	836
Total lease cost	$ 3,612

Leases - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Apr. 30, 2020 USD ($)
Property, Plant and Equipment [Line Items]
Fiscal 2021 (remaining nine months)	$ 5,481
Fiscal 2022	9,746
Fiscal 2023	9,307
Fiscal 2024	9,258
Fiscal 2025	8,414
Thereafter	3,651
Total operating lease payments	45,857
Less: imputed interest	6,277
Present value of operating lease liabilities	39,580
Real Estate Arrangements
Property, Plant and Equipment [Line Items]
Fiscal 2021 (remaining nine months)	9,958
Fiscal 2022	9,869
Fiscal 2023	9,377
Fiscal 2024	9,370
Fiscal 2025	8,441
Thereafter	3,671
Present value of operating lease liabilities	$ 50,686

Equity Transactions (Details)	Jun. 14, 2019 modules $ / shares shares	Apr. 30, 2020 $ / shares shares	Jan. 31, 2020 $ / shares shares
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares) \| shares		100,000,000	100,000,000
Preferred stock, par value (in usd per share) \| $ / shares		$ 0.0005	$ 0.0005
Class A common stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares) \| shares		2,000,000,000	2,000,000,000
Common stock, par value (in usd per share) \| $ / shares		$ 0.0005	$ 0.0005
Class B common stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares) \| shares		300,000,000	300,000,000
Common stock, par value (in usd per share) \| $ / shares		$ 0.0005	$ 0.0005
IPO
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares) \| shares	100,000,000
Preferred stock, par value (in usd per share) \| $ / shares	$ 0.0005
IPO \| Class A common stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares) \| shares	2,000,000,000
Common stock, par value (in usd per share) \| $ / shares	$ 0.0005
Number of votes per share \| modules	1
Common stock conversion ratio	1
IPO \| Class B common stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares) \| shares	300,000,000
Common stock, par value (in usd per share) \| $ / shares	$ 0.0005
Number of votes per share \| modules	10
Common stock conversion ratio	1

Stock-Based Compensation (Details) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended		12 Months Ended
	May 31, 2019 unit_Standard_item shares	Sep. 30, 2018 unit_Standard_tranche unit_Standard_installment	Apr. 30, 2020 USD ($) shares	Apr. 30, 2019 USD ($) $ / shares	Jan. 31, 2020 USD ($) shares	Jun. 14, 2019 USD ($)
Stock Based Compensation
Employee payroll contributions accrued			$ 37,458		$ 36,810
2019 Plan \| Class A common stock
Stock Based Compensation
Maximum number of shares of common stock that may be issued (in shares) \| shares	8,750,000
Threshold percentage of outstanding shares	2.00%
Employee Stock Purchase Plan
Stock Based Compensation
Threshold percentage of outstanding shares	1.00%
Offering period	24 months
Number of purchase periods \| unit_Standard_item	4
Duration of purchase periods	6 months
Percentage of eligible compensation	15.00%
Maximum number of shares each participant can purchase during purchase period (in shares) \| shares	2,500
Purchase price, threshold percentage of fair market value	85.00%
Employee payroll contributions accrued			$ 15,000
Employee Stock Purchase Plan \| Class A common stock
Stock Based Compensation
Maximum number of shares of common stock that may be issued (in shares) \| shares	3,500,000
Service-based vesting
Stock Based Compensation
Number of vesting schedules \| unit_Standard_tranche		3
Stock options
Stock Based Compensation
Options unvested (in shares) \| shares			732,200
Aggregate intrinsic value of options vested and exercisable			$ 410,400		$ 469,600
Weighted-average remaining contractual term of options vested and exercisable (in years)			6 years 9 months 18 days		6 years 8 months 12 days
Options granted (in shares) \| shares			0
Weighted-average grant date fair value of options granted (in usd per share) \| $ / shares				$ 8.76
Total intrinsic value of options exercised			$ 111,200	$ 8,800
Aggregate intrinsic value of stock options outstanding			$ 770,500		$ 816,300
Weighted-average remaining contractual term of stock options outstanding (in years)			7 years 4 months 24 days		7 years 4 months 24 days
Total unrecognized stock-based compensation expenses related to unvested options			$ 30,400		$ 34,700
Expected to be amortized over weighted-average vesting period (in years)			2 years		2 years 1 month 6 days
Shares issued for exercise of stock options (in shares) \| shares			0
Number of shares of common stock related to early exercised stock options subject to repurchase (in shares) \| shares			849,356		984,417
Value of common stock related to early exercised stock options subject to repurchase			$ 7,800		$ 8,700
Performance-based vesting
Stock Based Compensation
Stock-based compensation expense deferred						$ 17,300
RSUs
Stock Based Compensation
Expected to be amortized over weighted-average vesting period (in years)			2 years 9 months 18 days
Total unrecognized stock-based compensation expenses related to unvested RSUs			$ 253,600
PSUs
Stock Based Compensation
Threshold percentage of outstanding shares			130.00%
Expected to be amortized over weighted-average vesting period (in years)			2 years
Total unrecognized stock-based compensation expenses related to unvested RSUs			$ 40,100
Vesting period			4 years
Vesting one \| Service-based vesting
Stock Based Compensation
Vesting percentage			25.00%
Number of quarterly installments \| unit_Standard_installment		12
Vesting two \| Service-based vesting
Stock Based Compensation
Number of quarterly installments \| unit_Standard_installment		16
Vesting three \| Service-based vesting
Stock Based Compensation
Number of quarterly installments \| unit_Standard_installment		8

Stock-Based Compensation - Stock options - Assumptions (Details)	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Stock options
Stock Based Compensation
Expected term (in years)		6 years 18 days
Risk-free interest rate		2.40%
Expected stock price volatility		37.90%
Dividend yield		0.00%
Employee Stock Purchase Plan
Stock Based Compensation
Dividend yield	0.00%
Minimum \| Employee Stock Purchase Plan
Stock Based Compensation
Expected term (in years)	6 months
Risk-free interest rate	1.60%
Expected stock price volatility	30.10%
Maximum \| Employee Stock Purchase Plan
Stock Based Compensation
Expected term (in years)	2 years
Risk-free interest rate	2.00%
Expected stock price volatility	35.70%

Stock-Based Compensation - Stock options - Summary (Details) - Stock options shares in Thousands	3 Months Ended
	Apr. 30, 2020 $ / shares shares
Number of Shares
Options outstanding at beginning of period (in shares) \| shares	14,689
Exercised (in shares) \| shares	(2,056)
Canceled (in shares) \| shares	(161)
Options outstanding at end of period (in shares) \| shares	12,472
Options vested and expected to vest at end of period (in shares) \| shares	12,472
Options exercisable at end of period (in shares) \| shares	6,426
Weighted-Average Exercise Price Per Share
Options outstanding at beginning of period (in usd per share) \| $ / shares	$ 5.52
Exercised (in usd per share) \| $ / shares	3.11
Canceled (in usd per share) \| $ / shares	8.48
Options outstanding at end of period (in usd per share) \| $ / shares	5.88
Options vested and expected to vest at end of period (in usd per share) \| $ / shares	5.88
Options exercisable at end of period (in usd per share) \| $ / shares	$ 3.80

Stock-Based Compensation - RSU activity (Details) - RSU and PSU shares in Thousands	3 Months Ended
	Apr. 30, 2020 $ / shares shares
Number of Shares
RSUs and PSUs outstanding at beginning of period (in shares) \| shares	6,063
Granted (in shares) \| shares	2,824
Vested (in shares) \| shares	(501)
Forfeited (in shares) \| shares	(141)
RSUs and PSUs outstanding at end of period (in shares) \| shares	8,245
RSUs and PSUs expected to vest at end of period (in shares) \| shares	8,245
Weighted-Average Grant Date Fair Value Per Share
RSUs and PSUs outstanding at beginning of period (in usd per share) \| $ / shares	$ 29.82
Granted (in usd per share) \| $ / shares	57.94
Vested (in usd per share) \| $ / shares	22.45
Forfeited (in usd per share) \| $ / shares	26.25
RSUs and PSUs outstanding at end of period (in usd per share) \| $ / shares	39.96
RSUs and PSUs expected to vest at end of period (in usd per share) \| $ / shares	$ 39.96

Stock-Based Compensation - Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 23,638	$ 3,752
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	8,687	1,518
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	4,900	681
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	7,085	1,185
Subscription \| Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	1,995	265
Professional services \| Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 971	$ 103

Revenue, Deferred Revenue and Remaining Performance Obligations - Revenue from Contracts by Type and Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Disaggregation of Revenue [Line Items]
Total revenue	$ 178,078	$ 96,077
Percentage of revenue	100.00%	100.00%
United States
Disaggregation of Revenue [Line Items]
Total revenue	$ 129,481	$ 72,307
Percentage of revenue	73.00%	75.00%
Europe, Middle East, and Africa
Disaggregation of Revenue [Line Items]
Total revenue	$ 25,042	$ 13,414
Percentage of revenue	14.00%	14.00%
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	$ 14,901	$ 6,230
Percentage of revenue	8.00%	7.00%
Other
Disaggregation of Revenue [Line Items]
Total revenue	$ 8,654	$ 4,126
Percentage of revenue	5.00%	4.00%
Channel Partners
Disaggregation of Revenue [Line Items]
Total revenue	$ 130,280	$ 64,460
Percentage of revenue	73.00%	67.00%
Direct Customers
Disaggregation of Revenue [Line Items]
Total revenue	$ 47,798	$ 31,617
Percentage of revenue	27.00%	33.00%

Revenue, Deferred Revenue and Remaining Performance Obligations - Additional Information (Details) - USD ($)	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Jan. 31, 2020	Jan. 31, 2019
Contract with Customer, Liability [Line Items]
Revenue included in the contract liability balance	$ 141,500,000	$ 79,900,000
Commission amortization period	4 years
Professional services contract amortization	6 months
Impairment loss	$ 0
Contract with Customer, Liability	$ 635,973,000	$ 315,212,000	$ 571,168,000	$ 290,067,000
Minimum
Contract with Customer, Liability [Line Items]
Payment terms	30 days
Subscription term	1 year
Maximum
Contract with Customer, Liability [Line Items]
Payment terms	60 days
Subscription term	3 years

Revenue, Deferred Revenue and Remaining Performance Obligations - Changes in Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Movement in Deferred Revenue [Roll Forward]
Beginning Balance	$ 571,168	$ 290,067
Additions to deferred revenue	242,883	121,222
Recognition of deferred revenue	(178,078)	(96,077)
Ending Balance	$ 635,973	$ 315,212

Revenue, Deferred Revenue and Remaining Performance Obligations - Performance Obligations (Details) $ in Millions	Apr. 30, 2020 USD ($)
Revenue from Contract with Customer [Abstract]
Transaction price allocated to remaining performance obligations	$ 817.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-05-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	70.00%
Remaining performance obligation, period	12 months

Revenue, Deferred Revenue and Remaining Performance Obligations - Deferred contract acquisition costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019	Apr. 30, 2020	Jan. 31, 2020	Apr. 30, 2019
Movement in Deferred Contract Acquisition Costs [Roll Forward]
Beginning balance	$ 114,206	$ 63,071
Capitalization of contract acquisition costs	22,563	8,471
Amortization of deferred contract acquisition costs	(13,451)	(7,345)
Ending balance	123,318	64,197
Deferred contract acquisition costs, current			$ 53,410	$ 42,971	$ 26,193
Deferred contract acquisition costs, noncurrent			69,908	71,235	38,004
Total deferred contract acquisition costs	$ 123,318	$ 64,197	$ 123,318	$ 114,206	$ 64,197

Commitments and Contingencies (Details) - USD ($)	Apr. 30, 2020	Jan. 31, 2020
Line of Credit Facility [Line Items]
Commitment to spend	$ 150,000,000.0
Unused standby letter of credit	0	$ 0
Liability recorded	0	0
Liabilities accrued	0	0
Sunnyvale, California
Line of Credit Facility [Line Items]
Unused standby letter of credit	400,000	600,000
Austin, Texas
Line of Credit Facility [Line Items]
Unused standby letter of credit	$ 1,000,000.0	$ 1,000,000.0

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Commitments and Contingencies - Purchase Obligations (Details) $ in Thousands	Apr. 30, 2020 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Fiscal 2021 (remaining three months)	$ 67,113
Fiscal 2022	90,298
Fiscal 2023	10,156
Fiscal 2024	10,379
Fiscal 2025	2,721
Thereafter	3,221
Total purchase commitments	$ 183,888

Geographic Information (Details) - USD ($) $ in Thousands	Apr. 30, 2020	Jan. 31, 2020
Geographic Information
Total property and equipment, net and operating lease right-of-use assets	$ 174,834	$ 136,078
United States
Geographic Information
Total property and equipment, net and operating lease right-of-use assets	157,071	125,409
International
Geographic Information
Total property and equipment, net and operating lease right-of-use assets	$ 17,763	$ 10,669

Related Party Transactions (Details) - USD ($)	3 Months Ended
Related Party Transactions (Details) - USD ($)	Apr. 30, 2020	Apr. 30, 2019	Jan. 31, 2020
Related Party Transactions [Abstract]
Revenue from subscriptions and professional services from related parties	$ 900,000	$ 2,300,000
Accounts receivable associated with related parties	200,000		$ 200,000
Purchases from related parties	800,000	$ 600,000
Accounts payable to vendors	$ 0		$ 0

Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net loss attributable to common stockholders	$ (19,222)	$ (25,977)
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted (in shares)	213,129,000	47,205,000
Net loss per share attributable to Class A and Class B common stockholders, basic and diluted (in usd per share)	$ (0.09)	$ (0.55)
Class A common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net loss attributable to common stockholders	$ (11,263)
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted (in shares)	124,886,000
Net loss per share attributable to Class A and Class B common stockholders, basic and diluted (in usd per share)	$ (0.09)
Class B common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net loss attributable to common stockholders	$ (7,959)
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted (in shares)	88,243,000
Net loss per share attributable to Class A and Class B common stockholders, basic and diluted (in usd per share)	$ (0.09)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Net Loss Per Share Attributable to Common Stockholders - Antidilutive (Details) - shares shares in Thousands	3 Months Ended
	Apr. 30, 2020	Apr. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares excluded from diluted net loss per share (in shares)	22,992	158,270
Redeemable Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares excluded from diluted net loss per share (in shares)	0	131,268
Shares of common stock issuable upon conversion of redeemable convertible preferred stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares excluded from diluted net loss per share (in shares)	0	336
Shares of common stock subject to repurchase from outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares excluded from diluted net loss per share (in shares)	849	466
RSUs and PSUs subject to future vesting
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares excluded from diluted net loss per share (in shares)	8,245	0
Shares of common stock issuable from stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares excluded from diluted net loss per share (in shares)	12,472	26,200
Share purchase rights under the employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common shares excluded from diluted net loss per share (in shares)	1,426	0

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 23,418,000
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 23,418,000