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Income Taxes (Tables)

12 Months Ended

Feb. 01, 2025

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Loss before provision for income taxes consisted of the following for the fiscal years ended February 1, 2025, February 3, 2024, and January 28, 2023 (in thousands):

			Fiscal Year Ended
			February 1, 2025						February 3, 2024						January 28, 2023
United States			$	(168,662)					$	(298,189)					$	(256,905)
Foreign			18,248						14,806						13,070
Loss before provision for income taxes			$	(150,414)					$	(283,383)					$	(243,835)

Schedule of Components of Provision for Income Taxes

The components of the provision for income taxes consisted of the following for the fiscal years ended February 1, 2025, February 3, 2024, and January 28, 2023 (in thousands):

			Fiscal Year Ended
			February 1, 2025						February 3, 2024						January 28, 2023
Current:
U.S. Federal			$	—					$	—					$	—
State and local			201						494						585
Foreign			2,219						1,918						1,007
Total current tax expense			$	2,420					$	2,412					$	1,592
Deferred:
U.S. federal			$	—					$	—					$	—
State and local			—						—						—
Foreign			2,073						931						1,995
Total deferred tax expense			2,073						931						1,995
Total provision for income taxes			$	4,493					$	3,343					$	3,587

Schedule of Effective Income Tax Rate Reconciliation

Reconciliations of the income tax provision at the U.S. federal statutory tax rate to the Company’s effective tax rate are as follows:

			Fiscal Year Ended
			February 1, 2025						February 3, 2024						January 28, 2023
U.S. federal statutory tax rate			21.0		%				21.0		%				21.0		%
Changes in income taxes resulting from:
State taxes, net of federal benefit			9.5						5.6						3.2
Foreign income taxed at different rates			0.7						0.1						(0.1)
Federal research and development credits			10.8						4.3						0.9
Stock-based compensation			37.7						14.0						(1.0)
Tax on foreign earnings			—						—						(0.2)
Permanent differences			(0.6)						(0.3)						(0.4)
Change in valuation allowance			(81.9)						(45.5)						(22.9)
Other			(0.2)						(0.4)						(2.0)
Total tax provision			(3.0		%)				(1.2		%)				(1.5		%)

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are shown below (in thousands):

			As of
			February 1, 2025						February 3, 2024
Deferred tax assets:
Net operating loss carryforwards			$	545,306					$	454,073
Tax credit carryforwards			42,803						27,231
Operating lease liability			19,096						24,784
Capitalized research and development			63,946						47,840
Accruals and reserves			39,032						47,056
Property and equipment			1,363						—
Total deferred tax assets			711,546						600,984
Valuation allowance			(560,745)						(455,280)
Deferred tax assets, net of valuation allowance			150,801						145,704
Deferred tax liabilities:
Property and equipment			—						(992)
Deferred commissions			(43,060)						(38,944)
Deferred connected device costs			(81,896)						(78,265)
Operating lease right-of-use assets			(15,313)						(19,817)
Accruals			(15,704)						(11,366)
Total deferred tax liabilities			(155,973)						(149,384)
Net deferred tax liabilities			$	(5,172)					$	(3,680)

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending balance of total gross unrecognized tax benefits, excluding accrued net interest and penalties, is as follows (in thousands):

			Fiscal Year Ended
			February 1, 2025						February 3, 2024						January 28, 2023
Unrecognized tax benefits, beginning balance			$	16,602					$	9,810					$	8,816
Gross increases for tax positions taken in prior years			527						1,934						—
Gross decreases for tax positions taken in prior years			(2,682)						(685)						(15)
Gross increases for tax positions taken in current year			6,843						5,543						1,009
Unrecognized tax benefits, ending balance			$	21,290					$	16,602					$	9,810

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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