UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38856 (Exact name of registrant as specified in its charter) __________ ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-K _________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the annual period ended January 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38856 PAGERDUTY, INC. (Exact name of registrant as specified in its charter ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38856 PAGERDUTY, INC. (Exact name of registrant as specified in its c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38856 PAGERDUTY, INC. (Exact name of registrant as specified in its char ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38856 PAGERDUTY, INC. (Exact name of registrant as specified in its cha ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-K _________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the annual period ended January 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38856 PAGERDUTY, INC. (Exact name of registrant as specified in its charter ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2020 WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ (Mark One) or (Exact name of registrant as specified in its charter) _________________________ (State or other jurisdiction of incorporation or organization) Delaware 27-2793871 (I.R.S. Employer Identification Number) 600 Townsend St., ...

PART I - FINANCIAL INFORMATION [Item 1. Financial Statements (unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) Presents PagerDuty's unaudited condensed consolidated financial statements for the quarterly period ended July 31, 2020 [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$719.2 million** from **$435.4 million** as of July 31, 2020, driven by convertible notes and rising liabilities Condensed Consolidated Balance Sheets (in thousands) | | As of July 31, 2020 | As of January 31, 2020 | | :--- | :--- | :--- | | **Total current assets** | $661,275 | $404,991 | | **Total assets** | $719,187 | $435,398 | | **Total current liabilities** | $129,771 | $115,032 | | **Convertible senior notes, net** | $210,976 | $— | | **Total liabilities** | $377,316 | $127,460 | | **Total stockholders' equity** | $341,871 | $307,938 | | **Total liabilities and stockholders' equity** | $719,187 | $435,398 | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Revenue grew **25.6%** for the quarter ended July 31, 2020, resulting in a net loss of **$14.7 million** Statements of Operations Highlights (in thousands) | | Three Months Ended July 31, 2020 | Three Months Ended July 31, 2019 | Six Months Ended July 31, 2020 | Six Months Ended July 31, 2019 | | :--- | :--- | :--- | :--- | :--- | | **Revenue** | $50,714 | $40,361 | $100,500 | $77,675 | | **Gross Profit** | $44,077 | $34,255 | $86,900 | $66,083 | | **Loss from Operations** | $(13,449) | $(14,381) | $(26,049) | $(27,110) | | **Net Loss** | $(14,688) | $(12,570) | $(26,147) | $(24,634) | | **Net Loss per Share** | $(0.19) | $(0.17) | $(0.33) | $(0.45) | [Condensed Consolidated Statements of Stockholders' Equity](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders%20Equity) Stockholders' equity increased to **$341.9 million** for the six months ended July 31, 2020, driven by convertible notes and stock compensation - Key drivers for the change in stockholders' equity during the six months ended July 31, 2020 include the issuance of convertible senior notes, stock-based compensation, purchase of capped calls, and the period's net loss[18](index=18&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow improved to **$1.9 million** provided, with **$251.2 million** provided by financing activities from convertible notes Cash Flow Summary (in thousands) | | Six Months Ended July 31, 2020 | Six Months Ended July 31, 2019 | | :--- | :--- | :--- | | **Net cash provided by (used in) operating activities** | $1,862 | $(5,407) | | **Net cash used in investing activities** | $(475) | $(36,715) | | **Net cash provided by financing activities** | $251,227 | $218,168 | | **Net increase in cash, cash equivalents, and restricted cash** | $252,614 | $176,046 | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, **$287.5 million** convertible notes, new lease accounting, and geographic revenue breakdown - In June 2020, the Company issued **$287.5 million** in 1.25% Convertible Senior Notes due 2025, with net proceeds of **$278.2 million** after discounts and costs[35](index=35&type=chunk)[82](index=82&type=chunk) - The company adopted the new lease accounting standard (Topic 842) on February 1, 2020, resulting in the recognition of a **$29.1 million** operating right-of-use asset and a **$35.9 million** operating lease liability[46](index=46&type=chunk) - No single customer accounted for **10%** or more of total accounts receivable or revenue for the periods presented[39](index=39&type=chunk) Revenue by Geography (in thousands) | | Six Months Ended July 31, 2020 | Six Months Ended July 31, 2019 | | :--- | :--- | :--- | | **United States** | $77,269 | $61,060 | | **International** | $23,231 | $16,615 | | **Total** | $100,500 | $77,675 | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance for the three and six months ended July 31, 2020, covering key metrics, COVID-19 impact, and trends [COVID-19 Update](index=30&type=section&id=COVID-19%20Update) Increased churn and declining users due to COVID-19 led to operational changes like remote work and virtual events - The company has seen an increase in churn and a decline in the number of users, believed to be associated with the impact of COVID-19, and anticipates potential declines in customer demand and spending[131](index=131&type=chunk) - In March 2020, all offices were temporarily closed, and employees transitioned to remote work; the company also converted its global customer conference, Summit, to a virtual event[133](index=133&type=chunk)[135](index=135&type=chunk) [Key Business Metrics](index=32&type=section&id=Key%20Business%20Metrics) Customers grew to **13,346** as of July 31, 2020, but dollar-based net retention rate decreased to **116%** due to COVID-19 Customer Count | | As of July 31, 2020 | As of July 31, 2019 | | :--- | :--- | :--- | | **Customers** | 13,346 | 12,045 | | **Customers > $100k in ARR** | 369 | 274 | Dollar-based Net Retention Rate | | Last 12 Months Ended July 31, 2020 | Last 12 Months Ended July 31, 2019 | | :--- | :--- | :--- | | **Dollar-based net retention rate** | 116% | 132% | [Results of Operations](index=34&type=section&id=Results%20of%20Operations) Revenue grew **26%** for the quarter and **29%** for the six-month period, with improved gross margin and reduced operating expenses as a percentage of revenue Revenue Growth | Period | 2020 Revenue | 2019 Revenue | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | **Three Months** | $50,714 | $40,361 | $10,353 | 26% | | **Six Months** | $100,500 | $77,675 | $22,825 | 29% | - Gross margin for the three months ended July 31, 2020 improved to **87%** from **85%** in the prior year, attributed to efficiency from the company's cloud-native infrastructure[160](index=160&type=chunk) - Operating expenses as a percentage of revenue decreased from **121%** to **113%** for the three-month period and from **120%** to **112%** for the six-month period year-over-year, primarily due to revenue growing faster than expenses[158](index=158&type=chunk) [Non-GAAP Financial Measures](index=39&type=section&id=Non-GAAP%20Financial%20Measures) Non-GAAP operating loss was **$3.5 million** (a **-7%** margin) with positive free cash flow of **$1.4 million** for Q2 FY2021 Reconciliation of GAAP Operating Loss to Non-GAAP Operating Loss (in thousands) | | Three Months Ended July 31, 2020 | Three Months Ended July 31, 2019 | | :--- | :--- | :--- | | **Loss from operations (GAAP)** | $(13,449) | $(14,381) | | Add: Stock-based compensation | 9,968 | 7,233 | | **Non-GAAP operating loss** | $(3,481) | $(7,148) | | **Non-GAAP operating margin** | (7)% | (18)% | Free Cash Flow (in thousands) | | Three Months Ended July 31, 2020 | Three Months Ended July 31, 2019 | | :--- | :--- | :--- | | **Net cash used in operating activities** | $2,047 | $2,159 | | Less: Purchases of property and equipment | (579) | (829) | | Less: Capitalization of internal-use software costs | (111) | — | | **Free cash flow** | $1,357 | $1,330 | [Liquidity and Capital Resources](index=41&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity totaled **$601.6 million** as of July 31, 2020, bolstered by **$287.5 million** convertible notes, sufficient for the next 12 months - Principal sources of liquidity as of July 31, 2020, were cash, cash equivalents, and investments totaling **$601.6 million**[185](index=185&type=chunk) - In June 2020, the company issued **$287.5 million** in convertible notes, resulting in net proceeds of **$242.5 million** after deducting discounts, issuance costs, and the purchase of capped calls[184](index=184&type=chunk) - A substantial source of cash is from deferred revenue, which stood at **$101.2 million** as of July 31, 2020[187](index=187&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=44&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) No material changes in market risk, except for interest rate risk from the **$287.5 million** convertible senior notes - The primary new market risk is interest rate risk related to the **$287.5 million** in convertible senior notes issued in June 2020; the fair market value of these fixed-rate notes will generally decrease as interest rates rise and increase as they fall[206](index=206&type=chunk) [Item 4. Controls and Procedures](index=45&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of July 31, 2020, with no material changes to internal control over financial reporting - The CEO and CFO concluded that as of July 31, 2020, the company's disclosure controls and procedures were effective at a reasonable assurance level[208](index=208&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[210](index=210&type=chunk) Part II - OTHER INFORMATION [Item 1. Legal Proceedings](index=46&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any material pending legal proceedings - PagerDuty is not a party to any material pending legal proceedings[212](index=212&type=chunk) [Item 1A. Risk Factors](index=46&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors, except for new risks related to the **$287.5 million** convertible notes and potential dilution [Risks Related to our Outstanding Convertible Notes](index=46&type=section&id=Risks%20Related%20to%20our%20Outstanding%20Convertible%20Notes) Risks of **$287.5 million** convertible notes include insufficient cash flow, repurchase obligations, potential stock dilution, and counterparty risk - The company may not have sufficient cash flow to make scheduled payments on its debt, including the **$287.5 million** in convertible notes, or to repurchase the notes if required[215](index=215&type=chunk) - Conversion of the notes into common stock could dilute the ownership interests of existing stockholders[219](index=219&type=chunk) - The company is subject to counterparty risk with the financial institutions involved in the capped call transactions, which are intended to reduce dilution from the notes[224](index=224&type=chunk) - Accounting for the convertible notes (under ASC 470-20) requires separating the debt and equity components, resulting in non-cash interest expense that will reduce reported net income or increase net loss[225](index=225&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=50&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Securities%20and%20Use%20of%20Proceeds) There have been no material changes in the planned use of proceeds from the company's IPO - There have been no material changes in the planned use of proceeds from the company's IPO[232](index=232&type=chunk) [Item 6. Exhibits](index=50&type=section&id=Item%206.%20Exhibits) Provides an index of exhibits filed with the Quarterly Report on Form 10-Q, including convertible notes indenture and CEO/CFO certifications - The Exhibit Index lists documents filed with the report, including the Indenture for the 1.25% Convertible Senior Notes due 2025 and CEO/CFO certifications[237](index=237&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 _________________________ FORM 10-Q _________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38856 PAGERDUTY, INC. (Exact name of registrant as specified in its cha ...

Part I [Business](index=5&type=section&id=Item%201.%20Business) PagerDuty operates a real-time operations platform, serving over 12,000 customers with on-call management and incident response capabilities, driven by a subscription-based growth model - PagerDuty's mission is to act as the central nervous system for digital enterprises by collecting machine-generated data, combining it with human response data, and using machine learning to orchestrate real-time issue resolution[15](index=15&type=chunk)[16](index=16&type=chunk) Fiscal Year Financial Performance | Metric | FY 2020 | FY 2019 | | :--- | :--- | :--- | | Revenue | $166.4 million | $117.8 million | | Net Loss | $50.3 million | $40.7 million | - As of January 31, 2020, the company serves over **12,000 customers** across various industries, including software, telecommunications, retail, and financial services[20](index=20&type=chunk) - The company's growth strategy focuses on landing new customers through a self-service model, expanding usage within existing customers via direct sales, introducing new products, and growing its international presence, which accounted for **22% of revenue in FY2020**[21](index=21&type=chunk)[33](index=33&type=chunk) - PagerDuty estimates its total addressable market to be over **$25 billion**, based on approximately **85 million potential users** across developer, IT, security, and customer support segments[34](index=34&type=chunk) - The primary competitors are identified as OpsGenie (acquired by Atlassian) and VictorOps (acquired by Splunk), with competition based on platform functionality, performance, brand recognition, and total cost of ownership[58](index=58&type=chunk) [Risk Factors](index=15&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks including a history of operating losses, intense market competition, single product reliance, and potential service interruptions - The company has a history of net losses, reporting **$50.3 million**, **$40.7 million**, and **$38.1 million** for fiscal years 2020, 2019, and 2018, respectively, with an accumulated deficit of **$179.2 million** as of January 31, 2020[73](index=73&type=chunk) - Substantially all revenue is derived from the On-Call Management product, making the company vulnerable to declines in demand or the failure of other products to gain market acceptance[84](index=84&type=chunk)[85](index=85&type=chunk) - The market is highly competitive and fragmented, with competition from in-house solutions, open-source software, and established companies like Atlassian (OpsGenie) and Splunk (VictorOps)[87](index=87&type=chunk) - The business is exposed to security risks, including a past incident in 2015 where a user information database was compromised; future incidents could damage reputation and lead to significant liabilities[113](index=113&type=chunk)[115](index=115&type=chunk) - Operations depend on third-party data centers, including AWS and Microsoft Azure, making the company vulnerable to their service interruptions, which could harm customer relationships and revenue[120](index=120&type=chunk)[121](index=121&type=chunk) - International operations, which generated **22% of revenue in FY2020**, expose the company to risks such as currency fluctuations, political instability (including Brexit), and complex regulatory environments like GDPR[135](index=135&type=chunk)[137](index=137&type=chunk)[172](index=172&type=chunk) - The recent global coronavirus (COVID-19) outbreak is identified as a risk that could decrease technology spending, adversely affect demand for products, and harm business and results of operations[132](index=132&type=chunk)[134](index=134&type=chunk) [Properties](index=42&type=section&id=Item%202.%20Properties) The company's corporate headquarters is in San Francisco, with additional offices in Atlanta, Seattle, Toronto, Sydney, and London - Corporate headquarters is in San Francisco, CA, consisting of approximately **59,000 square feet** with a lease expiring in 2025[211](index=211&type=chunk) - Additional office locations are maintained in Atlanta, Georgia; Seattle, Washington; Toronto, Canada; Sydney, Australia; and London, United Kingdom[212](index=212&type=chunk) [Legal Proceedings](index=42&type=section&id=Item%203.%20Legal%20Proceedings) PagerDuty is not currently a party to any litigation expected to have a material adverse effect on its business or financial condition - The company reports that it is not presently a party to any litigation expected to have a material adverse effect on its business or financial condition[213](index=213&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=43&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) PagerDuty's common stock began trading on the NYSE under "PD" on April 11, 2019, with no intention to pay future cash dividends - The company's common stock has been listed on the NYSE under the symbol "**PD**" since its IPO on April 11, 2019[216](index=216&type=chunk) - PagerDuty has never declared or paid cash dividends and does not expect to in the foreseeable future, intending to retain future earnings for business operations[218](index=218&type=chunk) - The April 2019 IPO raised aggregate net proceeds of **$213.7 million** after underwriting discounts and offering costs[223](index=223&type=chunk) [Selected Consolidated Financial and Other Data](index=44&type=section&id=Item%206.%20Selected%20Consolidated%20Financial%20and%20Other%20Data) This section presents key historical financial and operational data for PagerDuty, including revenue, net loss, customer growth, and retention rates Consolidated Statements of Operations Data (in thousands) | | Year Ended January 31, 2020 | Year Ended January 31, 2019 | Year Ended January 31, 2018 | | :--- | :--- | :--- | :--- | | Revenue | $166,351 | $117,823 | $79,630 | | Gross Profit | $141,772 | $100,568 | $66,913 | | Loss from Operations | $(55,559) | $(42,321) | $(38,316) | | Net Loss | $(50,339) | $(40,741) | $(38,149) | Consolidated Balance Sheet Data (in thousands) | | As of January 31, 2020 | As of January 31, 2019 | | :--- | :--- | :--- | | Cash and cash equivalents | $124,024 | $127,875 | | Total Assets | $435,398 | $197,234 | | Deferred Revenue | $92,569 | $64,104 | | Total Stockholders' Equity (Deficit) | $307,938 | $(68,930) | Key Business Metrics | Metric | As of Jan 31, 2020 | As of Jan 31, 2019 | As of Jan 31, 2018 | | :--- | :--- | :--- | :--- | | Total Customers | 12,774 | 11,212 | 9,793 | | Customers > $100k ARR | 323 | 228 | 144 | | Dollar-based Net Retention Rate | 122% | 140% | 134% | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=47&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, highlighting revenue growth, gross margin, increased operating expenses, and strong liquidity - Key performance factors include attracting new customers, expanding within the existing customer base, sustaining product innovation, and continued investment in growth, particularly in sales and R&D[250](index=250&type=chunk)[251](index=251&type=chunk)[252](index=252&type=chunk)[253](index=253&type=chunk) Comparison of Fiscal Years 2020 and 2019 (in thousands) | Metric | FY 2020 | FY 2019 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Revenue | $166,351 | $117,823 | $48,528 | 41% | | Gross Profit | $141,772 | $100,568 | $41,204 | 41% | | R&D Expense | $49,011 | $38,858 | $10,153 | 26% | | S&M Expense | $97,350 | $64,060 | $33,290 | 52% | | G&A Expense | $50,970 | $39,971 | $10,999 | 28% | | Loss from Operations | $(55,559) | $(42,321) | $(13,238) | 31% | - The **41% revenue growth in FY2020** was primarily driven by growth from existing customers, including increases in user count and upsells of additional products[277](index=277&type=chunk) - As of January 31, 2020, the company's principal sources of liquidity were cash, cash equivalents, and investments totaling **$351.4 million**; a substantial source of cash is from deferred revenue, which was **$92.6 million**[318](index=318&type=chunk)[320](index=320&type=chunk) Summary of Cash Flows (in thousands) | | FY 2020 | FY 2019 | FY 2018 | | :--- | :--- | :--- | :--- | | Net cash used in operating activities | $(173) | $(5,608) | $(11,836) | | Net cash used in investing activities | $(232,070) | $(4,119) | $(822) | | Net cash provided by financing activities | $225,944 | $93,599 | $45,429 | - Critical accounting policies include revenue recognition under Topic 606, deferral and amortization of sales commissions over a four-year period, and stock-based compensation valuation using the Black-Scholes model[339](index=339&type=chunk)[340](index=340&type=chunk)[343](index=343&type=chunk)[344](index=344&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=68&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks are interest rate and foreign currency exchange, both considered minimal given its financial position and U.S. dollar-denominated sales - The company is exposed to interest rate risk on its **$351.4 million** portfolio of cash, cash equivalents, and investments; however, a hypothetical **10% change in interest rates** is not expected to materially impact the financial statements[360](index=360&type=chunk)[362](index=362&type=chunk) - Foreign currency exchange risk exists as operating expenses are incurred in local currencies (primarily Canada, UK, Australia), but this risk is not considered significant as most sales are denominated in U.S. dollars; the company does not currently use hedging instruments[363](index=363&type=chunk) [Financial Statements and Supplementary Data](index=70&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section contains the audited consolidated financial statements for fiscal years 2020, 2019, and 2018, along with the independent auditor's report and detailed notes Consolidated Balance Sheet Highlights (in thousands) | | Jan 31, 2020 | Jan 31, 2019 | | :--- | :--- | :--- | | Total Current Assets | $404,991 | $172,837 | | Total Assets | $435,398 | $197,234 | | Total Current Liabilities | $115,032 | $88,809 | | Total Liabilities | $127,460 | $93,141 | | Total Stockholders' Equity (Deficit) | $307,938 | $(68,930) | Consolidated Statement of Operations Highlights (in thousands) | | FY 2020 | FY 2019 | FY 2018 | | :--- | :--- | :--- | :--- | | Revenue | $166,351 | $117,823 | $79,630 | | Gross Profit | $141,772 | $100,568 | $66,913 | | Loss from Operations | $(55,559) | $(42,321) | $(38,316) | | Net Loss | $(50,339) | $(40,741) | $(38,149) | - The company completed its IPO on April 15, 2019, receiving net proceeds of **$213.7 million**; immediately prior to the IPO, all redeemable convertible preferred stock converted into **41,273,345 shares of common stock**[390](index=390&type=chunk)[482](index=482&type=chunk) - As of January 31, 2020, the company had federal, state, and foreign net operating loss carryforwards of **$142.7 million**, **$5.8 million**, and **$2.8 million**, respectively, which begin to expire in 2030[511](index=511&type=chunk) [Controls and Procedures](index=104&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded the company's disclosure controls and procedures were effective as of January 31, 2020, with no material changes reported - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of January 31, 2020[521](index=521&type=chunk) - The report does not include a management assessment of internal control over financial reporting, as permitted for newly public companies[522](index=522&type=chunk) Part III [Directors, Executive Officers, Corporate Governance, Compensation, and Principal Accountant Fees](index=106&type=section&id=Items%2010-14) Information for these items is incorporated by reference from the company's definitive Proxy Statement for its 2020 Annual Meeting of Stockholders - Information for Items 10, 11, 12, 13, and 14 is incorporated by reference from the definitive Proxy Statement for the 2020 Annual Meeting of Stockholders, to be filed within 120 days of the fiscal year-end[528](index=528&type=chunk)[529](index=529&type=chunk)[530](index=530&type=chunk)[531](index=531&type=chunk)[532](index=532&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=107&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists the documents filed as part of the Form 10-K, including the index to consolidated financial statements and a detailed exhibit index - This item contains the index to the Consolidated Financial Statements (under Item 8) and a list of all exhibits filed with the report[534](index=534&type=chunk)[536](index=536&type=chunk)