Deferred Revenue and Remaining Performance Obligations

3 Months Ended

Apr. 30, 2022

Revenue from Contract with Customer [Abstract]

Deferred Revenue and Remaining Performance Obligations

Deferred Revenue and Remaining Performance Obligations

The following table presents the deferred revenue balances (in thousands):

	As of April 30,		As of January 31,
	2022		2022
Deferred revenue, current	$	68,466	$	69,010
Deferred revenue, noncurrent	2,289		2,713
Total deferred revenue	$	70,755	$	71,723

Changes in the deferred revenue balances during the three months ended April 30, 2022 and 2021 (unaudited) were as follows (in thousands):

	Three Months Ended April 30,
	2022		2021
Beginning balance	$	71,723	$	61,710
Performance obligations satisfied during the period that were included in the deferred revenue balance at the beginning of the year	(24,207)		(22,094)
Increases due to invoicing prior to satisfaction of performance obligations	23,239		17,032
Ending balance	$	70,755	$	56,648

Remaining performance obligations (“RPOs”) represent the amount of contracted future revenue that has not yet been recognized, including both deferred revenue and non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods.

As of April 30, 2022, the Company’s RPOs were $169.0 million. The Company expects to recognize revenue of $100.7 million of these remaining performance obligations over the next twelve months with the remaining balances recognized thereafter.