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Segment Information | 9 Months Ended
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Nov. 01, 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 income (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 nine months ended November 1, 2025 and November 2, 2024 (in thousands):
| Three Months Ended |  | Nine Months Ended
| November 1, 2025 |  | November 2, 2024 |  | November 1, 2025 |  | November 2, 2024 |  |
Revenue | $ | 415,975 |  |  | $ | 321,981 |  |  | $ | 1,174,339 |  |  | $ | 902,909 |  |  |
Cost of revenue (1) (2) | 27,649 |  |  | 23,725 |  |  | 78,293 |  |  | 67,966 |  |  |
Research and development (1) | 55,323 |  |  | 50,091 |  |  | 167,298 |  |  | 150,164 |  |  |
Sales and marketing (1) (3) | 126,922 |  |  | 112,222 |  |  | 381,290 |  |  | 341,671 |  |  |
General and administrative (1) | 43,268 |  |  | 42,016 |  |  | 132,415 |  |  | 115,908 |  |  |
Stock-based compensation expense | 77,843 |  |  | 72,592 |  |  | 236,057 |  |  | 208,852 |  |  |
Amortization of connected device costs | 37,129 |  |  | 30,298 |  |  | 105,652 |  |  | 88,570 |  |  |
Cloud and cellular costs | 28,633 |  |  | 18,963 |  |  | 76,269 |  |  | 52,292 |  |  |
Sales commissions | 20,929 |  |  | 15,835 |  |  | 58,660 |  |  | 45,438 |  |  |
Other segment items (4) | — |  |  | 3,609 |  |  | — |  |  | 3,609 |  |  |
Segment operating loss | $ | (1,721) |  |  | $ | (47,370) |  |  | $ | (61,595) |  |  | $ | (171,561) |  |  |
Interest income and other income, net (5) | 10,816 |  |  | 10,057 |  |  | 34,965 |  |  | 29,767 |  |  |
Provision for income taxes | 1,329 |  |  | 493 |  |  | 4,525 |  |  | 1,911 |  |  |
Segment net income (loss) | $ | 7,766 |  |  | $ | (37,806) |  |  | $ | (31,155) |  |  | $ | (143,705) |  |  |
__________ (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)Other segment items consist of lease modification, impairment, and related charges. (5)This includes interest income of $11.6 million and $34.3 million for the three and nine months ended November 1, 2025, respectively, and $10.7 million and $31.7 million for the three and nine months ended November 2, 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 Ended |  | Nine Months Ended
| November 1, 2025 |  | November 2, 2024 |  | November 1, 2025 |  | November 2, 2024 |  |
United States | $ | 355,188 |  |  | $ | 278,979 |  |  | $ | 1,007,241 |  |  | $ | 782,429 |  |  |
Other (1) | 60,787 |  |  | 43,002 |  |  | 167,098 |  |  | 120,480 |  |  |
Total revenue | $ | 415,975 |  |  | $ | 321,981 |  |  | $ | 1,174,339 |  |  | $ | 902,909 |  |  |
__________ (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
| November 1, 2025 |  | February 1, 2025
United States | $ | 130,635 |  |  | $ | 118,808 |
Other (1) | 10,080 |  |  | 4,207 |
Total long-lived assets, net | $ | 140,715 |  |  | $ | 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.

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- Definition The entire disclosure for reporting segments including data and tables. 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