Summary of Business and Significant Accounting Policies (Tables)
|
3 Months Ended |
Apr. 30, 2018 |
|---|
| Schedule of Certain Risks and Concentrations of Credit Risk |
The following customers individually exceeded 10% of total accounts receivable as of the dates shown:
|
|
April 30, |
|
|
January 31, |
|
|
|
|
2018 |
|
|
2018 |
|
|
|
Customer 1 |
* |
|
|
18% |
|
|
|
Customer 2 |
* |
|
|
13% |
|
|
|
Customer 3 |
15% |
|
|
* |
|
|
|
Customer 4 |
12% |
|
|
* |
|
|
|
|
|
| Topic 606 [Member] |
|
| Schedule of Condensed Consolidated Balance Sheet |
Select impacted condensed consolidated balance sheet line items, which reflect the adoption of the new standards are as follows (in thousands):
|
|
|
January 31, 2018 |
|
|
|
|
As Reported |
|
|
Adjustments |
|
|
As adjusted |
|
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts receivable(1) |
|
$ |
233,731 |
|
|
|
(9,063 |
) |
a |
$ |
224,668 |
|
|
Unbilled accounts receivable(1) |
|
|
— |
|
|
|
13,348 |
|
a |
|
13,348 |
|
|
Deferred costs, net |
|
|
— |
|
|
|
30,306 |
|
a |
|
30,306 |
|
|
Deferred income taxes, non-current |
|
|
3,490 |
|
|
|
(1,268 |
) |
a |
|
2,222 |
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred revenue |
|
$ |
275,446 |
|
|
$ |
(8,507 |
) |
a |
$ |
266,939 |
|
|
Deferred income taxes, non-current |
|
|
3,828 |
|
|
|
7,121 |
|
a |
|
10,949 |
|
|
Stockholders’ equity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated other comprehensive income |
|
$ |
1,404 |
|
|
$ |
196 |
|
c |
$ |
1,600 |
|
|
Retained earnings |
|
|
354,850 |
|
|
|
34,515 |
|
a, c |
|
389,365 |
|
|
|
|
|
(1) |
Unbilled accounts receivable was previously included in Accounts receivable before the adoption of Topic 606. |
|
| Schedule of Unaudited Consolidated Statements of Comprehensive Income |
Select unaudited condensed consolidated statement of comprehensive income line items, which reflect the adoption of the new standards are as follows (in thousands):
|
|
|
Three Months Ended April 30, 2017 |
|
|
|
|
As Reported |
|
|
Adjustments |
|
|
As adjusted |
|
|
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Subscription services |
|
$ |
127,277 |
|
|
$ |
1,854 |
|
a |
$ |
129,131 |
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing |
|
|
29,810 |
|
|
|
331 |
|
a |
|
30,141 |
|
|
Operating income |
|
|
37,339 |
|
|
|
1,524 |
|
a |
|
38,863 |
|
|
Provision for income taxes |
|
|
1,907 |
|
|
|
551 |
|
a |
|
2,458 |
|
|
Net income |
|
$ |
36,023 |
|
|
$ |
973 |
|
a |
$ |
36,996 |
|
|
Net income per share attributable to Class A and
Class B common stockholders: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.26 |
|
|
$ |
0.01 |
|
a |
$ |
0.27 |
|
|
Diluted |
|
$ |
0.24 |
|
|
$ |
— |
|
a |
$ |
0.24 |
|
|
|
|
|
| Schedule of Unaudited Condensed Consolidated Statement of Cash Flows |
Select unaudited condensed consolidated statement of cash flows line items, which reflect the adoption of the new standards are as follows (in thousands):
|
|
|
Three Months Ended April 30, 2017 |
|
|
|
|
As Reported |
|
|
Adjustments |
|
|
As adjusted |
|
|
Cash flows from operating activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
36,023 |
|
|
$ |
973 |
|
a |
$ |
36,996 |
|
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of deferred costs |
|
|
— |
|
|
|
4,048 |
|
a |
|
4,048 |
|
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts receivable |
|
|
69,700 |
|
|
|
1,104 |
|
a |
|
70,804 |
|
|
Unbilled accounts receivable |
|
|
— |
|
|
|
(7,932 |
) |
a |
|
(7,932 |
) |
|
Deferred costs |
|
|
— |
|
|
|
(3,717 |
) |
a |
|
(3,717 |
) |
|
Deferred revenue |
|
|
24,437 |
|
|
|
4,974 |
|
a |
|
29,411 |
|
|
Net cash provided by operating activities |
|
|
142,161 |
|
|
|
— |
|
a |
|
142,161 |
|
|
Change in restricted cash and deposits |
|
|
(1 |
) |
|
|
1 |
|
b |
|
— |
|
|
Net cash (used in) provided by investing activities |
|
|
(2,305 |
) |
|
|
1 |
|
b |
|
(2,304 |
) |
|
Net change in cash, cash equivalents and restricted cash |
|
|
148,054 |
|
|
|
1 |
|
b |
|
148,055 |
|
|
Cash, cash equivalents and restricted cash at the beginning of period |
|
|
217,606 |
|
|
|
1,001 |
|
b |
|
218,607 |
|
|
Cash, cash equivalents and restricted cash at the end of period |
|
$ |
365,660 |
|
|
$ |
1,002 |
|
b |
$ |
366,662 |
|
|
|
|
|
a |
Adjusted to reflect the adoption of ASU 2014-09, “Revenue from Contracts with Customers (Topic 606). |
|
b |
Adjusted to reflect the adoption of ASU 2016-18, “Statement of Cash Flows, Restricted Cash.” |
|
c |
Adjusted to reflect the adoption of ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” |
|