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Segment Information
 6 Months Ended
Aug. 02, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has a single operating and reportable segment. The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer, who reviews financial information presented on a consolidated basis. The Company derives its subscription revenue from customers that leverage the Company’s Connected Operations Platform, which consists of a data platform and set of Applications to consolidate data from their physical operations into a single, integrated solution. Amounts derived from subscription and other revenue are summarized in Note 7, “Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations.”
The accounting policies of the operating segment are the same as those described in Note 2, “Summary of Significant Accounting Policies.”
The CODM makes operating decisions, assesses financial performance, and allocates resources based on consolidated operating income (loss) and consolidated net income (loss) as reported on the Company’s condensed consolidated statements of operations and comprehensive loss. These financial metrics are used by the CODM to monitor budget versus actual results. The measure of segment assets is reported on the condensed consolidated balance sheets as total assets.
The table below presents selected financial information for the single operating segment for the six months ended August 2, 2025 and August 3, 2024 (in thousands):
Three Months EndedSix Months Ended
August 2, 2025August 3, 2024August 2, 2025August 3, 2024
Revenue$391,480 $300,202 $758,364 $580,928 
Cost of revenue (1) (2)
26,201 21,286 50,644 44,241 
Research and development (1)
55,753 50,499 111,975 100,073 
Sales and marketing (1) (3)
130,921 115,178 254,368 229,449 
General and administrative (1)
44,083 36,039 89,147 73,892 
Stock-based compensation expense81,135 71,604 158,214 136,260 
Amortization of connected device costs35,143 29,722 68,523 58,272 
Cloud and cellular costs25,537 19,139 47,636 33,329 
Sales commissions19,326 14,929 37,731 29,603 
Segment operating loss$(26,619)$(58,194)$(59,874)$(124,191)
Interest income and other income, net (4)
11,426 9,626 24,149 19,710 
Provision for income taxes1,607 1,042 3,196 1,418 
Segment net loss$(16,800)$(49,610)$(38,921)$(105,899)
__________
(1)These segment expenses exclude stock-based compensation expense, which is presented separately.
(2)Cost of revenue also excludes amortization of connected device costs and cloud and cellular costs, which are presented separately.
(3)Sales and marketing also excludes sales commissions, which is presented separately.
(4)This includes interest income of $11.5 million and $22.6 million for the three and six months ended August 2, 2025, respectively, and $10.6 million and $21.0 million for the three and six months ended August 3, 2024, respectively.
See the condensed consolidated financial statements for other financial information regarding the Company’s operating segment, including depreciation and amortization expense.
Revenue by Geographic Area
The following table presents the Company’s revenue disaggregated by geography, based on the location of the Company’s customers (in thousands):
Three Months EndedSix Months Ended
August 2, 2025August 3, 2024August 2, 2025August 3, 2024
United States$334,958 $260,430 $651,950 $503,450 
Other (1)
56,522 39,772 106,414 77,478 
Total revenue$391,480 $300,202 $758,364 $580,928 
__________
(1)No individual country other than the United States exceeded 10% of the Company’s total revenue for any period presented.
Long-Lived Assets, Net, by Geographic Area
The following table presents the Company’s long-lived assets, net, disaggregated by geography, which consist of property and equipment, net, and operating lease ROU assets (in thousands):
As of
August 2, 2025February 1, 2025
United States$124,068 $118,808 
Other (1)
10,340 4,207 
Total long-lived assets, net$134,408 $123,015 
__________
(1)No individual country other than the United States exceeded 10% of the Company’s total long-lived assets, net, for any period presented.