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Commitment and Contingencies | 6 Months Ended
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Jul. 31, 2022
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Commitments and Contingencies Operating Leases The Company leases its facilities for office space under non-cancelable operating leases with various expiration dates through fiscal 2035. 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. In May 2022, the Company entered into an agreement related to the expansion and lease term extension of an existing office facility located in the United States, which is considered a lease modification not accounted for as a separate contract. Total commitment, net of tenant incentives expected to be received, under the modified lease is $68.0 million. The modified lease commenced during the three months ended July 31, 2022, with an expiration date in fiscal 2035, and resulted in an increase in the Company’s operating lease right-of-use assets and operating lease liabilities in the amount of approximately $30 million. In addition, the Company subleases certain of its unoccupied facilities to third parties with various expiration dates through fiscal 2030. Such subleases have all been classified as operating leases. Sublease income is recorded as a reduction to the Company’s operating lease costs. Sublease income was $3.3 million and $6.6 million for the three and six months ended July 31, 2022, respectively, and $3.2 million and $6.4 million for the three and six months ended July 31, 2021, respectively. As of July 31, 2022, the Company had $16.0 million of legally-binding lease commitment for a lease signed but not yet commenced. The lease will commence in fiscal 2023 with a lease term of 10.0 years. Other Contractual Commitments Other contractual commitments relate mainly to third-party cloud infrastructure agreements and subscription arrangements used to facilitate the Company’s operations at the enterprise level. There were no material contractual obligations that were entered into during the six months ended July 31, 2022 that were outside the ordinary course of business. 401(k) Plan—The Company sponsors a 401(k) defined contribution plan covering all eligible U.S. employees. Contributions to the 401(k) plan are discretionary. The Company did not make any matching contributions to the 401(k) plan for each of the three and six months ended July 31, 2022 and 2021. Legal Matters—The Company is involved from time to time in various claims and legal actions arising in the ordinary course of business. While it is not feasible to predict or determine the ultimate outcome of these matters, the Company believes that none of its current legal proceedings will have a material adverse effect on its financial position, results of operations, or cash flows for each of the three and six months ended July 31, 2022 and 2021. Letters of Credit—As of July 31, 2022, the Company had a total of $17.1 million in cash collateralized letters of credit outstanding, substantially in favor of certain landlords for the Company’s leased facilities. These letters of credit renew annually and expire at various dates through fiscal 2033. Indemnification—The Company enters into indemnification provisions under agreements with other parties in the ordinary course of business, including business partners, investors, contractors, customers, and the Company’s officers, directors, and certain employees. The Company has agreed to indemnify and defend the indemnified party for claims and related losses suffered or incurred by the indemnified party from actual or threatened third-party claims due to the Company’s activities or non-compliance with certain representations and warranties made by the Company. It is not possible to determine the maximum potential loss under these indemnification provisions due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision. For each of the three and six months ended July 31, 2022 and 2021, losses recorded in the consolidated statements of operations in connection with the indemnification provisions were not material.

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