0001628280-22-024099 | 10-Q | XBRL Viewer

Stock-Based Compensation (Tables)

3 Months Ended

Jul. 31, 2022

Share-Based Payment Arrangement [Abstract]

A summary of the Company’s option activity during the three months ended July 31, 2022 is as follows:


	Options Outstanding
	Number of Stock Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value
	(in thousands)				(in thousands)
Balance as of April 30, 2022	36,338	$	12.44	7.34	$	165,436
Options granted	40	16.74
Options exercised	(287)	18.88
Options cancelled	(222)	13.47
Balance as of July 31, 2022	35,869	$	12.50	7.12	$	211,987
Vested and exercisable as of July 31, 2022	17,698	$	6.62	6.27	$	208,655
Vested and expected to vest as of July 31, 2022(1)	36,169	$	12.50	7.12	$	213,761

(1) The number of options vested and expected to vest as of July 31, 2022 includes early exercised, unvested Class A common stock. Refer to Note 7. Stockholders’ Equity for more information.

Schedule of Valuation Assumptions

The weighted average assumptions underlying the fair value estimation are provided in the following table:


	As of July 31,
	2022		2021
Valuation assumptions:
Expected dividend yield	—	%	—	%
Expected volatility	45.0	%	44.5	%
Expected term (years)	6.5		6.3
Risk-free interest rate	2.9	%	0.8	%

Schedule of Restricted Stock Unit Activity

A summary of the Company’s RSU activity during the three months ended July 31, 2022 is as follows:


	RSUs Outstanding
	Number of RSUs	Weighted Average Grant Date Fair Value Per Share
	(in thousands)
Unvested Balance as of April 30, 2022	12,109	$	36.04
RSUs granted	8,969	17.84
RSUs vested	(1,841)	30.59
RSUs forfeited	(1,630)	36.11
Unvested Balance as of July 31, 2022	17,607	$	27.29

Summary of Effects of Stock-Based Compensation

The following table summarizes the effects of stock-based compensation on the Company’s condensed consolidated statements of operations (in thousands):


	Three Months Ended July 31,
	2022		2021
Cost of subscription	$	4,272	$	821
Cost of professional services	1,071		602
Sales and marketing	16,779		6,135
Research and development	25,217		2,758
General and administrative	9,291		3,596
Total stock-based compensation expense	$	56,630	$	13,912

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($)
$ in Thousands

3 Months Ended

Jul. 31, 2022

Jul. 31, 2021

^[1]

$ (2,910)

$ (2,097)

^[2]

(1,106)

(3,633)

Investor

(2,240)

(13,921)

(1,216)

(415)

(13,861)

(2,536)

(3,309)

$ (51)

$ 16,940

[1]	Including changes in related party balances of $(1,216) and $(415) for the three months ended July 31, 2022 and 2021, respectively.
[2]	Including changes in related party balances of $(2,536) and $(3,309) for the three months ended July 31, 2022 and 2021, respectively.

Balance Sheet Details (Tables)

3 Months Ended

Jul. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Property and Equipment

Property and equipment consisted of the following at July 31, 2022 and April 30, 2022 (in thousands):


	Useful Life	As of July 31,		As of April 30,
	(in months)	2022		2022
Leasehold improvements	*	$	8,878	$	8,878
Computer equipment	36	4,141		3,321
Office furniture and equipment	60	348		348
Capital in progress	NA	36,044		11,261
Property and equipment—gross		49,411		23,808
Less: accumulated depreciation and amortization		(10,483)		(9,291)
Property and equipment—net		$	38,928	$	14,517

__________________

*Leasehold improvements are amortized over the shorter of the estimated useful lives of the improvements or the remaining lease term.

NA = Not Applicable

Schedule of Accrued Compensation and Employee Benefits

Accrued compensation and employee benefits consisted of the following at July 31, 2022 and April 30, 2022 (in thousands):


	As of July 31,		As of April 30,
	2022		2022
Accrued stock-settled bonus	$	10,163	$	—
Accrued bonus	2,482		16,078
Accrued vacation	3,960		3,814
Accrued payroll taxes and benefits	3,626		3,593
Accrued commission	1,501		1,440
Accrued salaries	7,476		7,298
Accrued compensation and employee benefits	$	29,208	$	32,223

Schedule of Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following at July 31, 2022 and April 30, 2022 (in thousands):


	As of July 31,		As of April 30,
	2022		2022
Liability for common stock exercised prior to vesting	$	1,597	$	1,970
Accrued general expenses	8,016		4,972
Operating lease liabilities, current	2,705		3,613
Commissions payable to a related party	2,422		2,510
Other	2,911		1,809
Accrued and other current liabilities	$	17,651	$	14,874

Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 56,630	$ 13,912
Cost of revenue \| Subscription
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	4,272	821
Cost of revenue \| Professional services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1,071	602
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	16,779	6,135
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	25,217	2,758
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 9,291	$ 3,596

Stock-Based Compensation - Restricted Stock Unit Activity (Details) - RSUs shares in Thousands	3 Months Ended
	Jul. 31, 2022 $ / shares shares
Number of RSUs
Unvested Balance at beginning of period (in shares) \| shares	12,109
RSUs granted (in shares) \| shares	8,969
RSUs vested (in shares) \| shares	(1,841)
RSUs forfeited (in shares) \| shares	(1,630)
Unvested Balance at end of period (in shares) \| shares	17,607
Weighted Average Grant Date Fair Value Per Share
Unvested Balance at beginning of period (in dollars per share) \| $ / shares	$ 36.04
RSUs granted (in dollars per share) \| $ / shares	17.84
RSUs vested (in dollars per share) \| $ / shares	30.59
RSUs forfeited (in dollars per share) \| $ / shares	36.11
Unvested Balance at end of period (in dollars per share) \| $ / shares	$ 27.29

Investments - Narrative (Details)	3 Months Ended
Investments - Narrative (Details)	Jul. 31, 2022 USD ($) investment	Apr. 30, 2022 investment
Investments, Debt and Equity Securities [Abstract]
Number of investment positions in unrealized loss position \| investment	296	284
Other-than-temporary impairment loss \| $	$ 0

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Jul. 31, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Preferred Stock The Company has authorized the issuance of 200,000,000 shares of undesignated preferred stock with a par value of $0.001 per share with rights and preferences, including voting rights, designated from time to time by the board of directors. As of July 31, 2022, there were no shares of Preferred Stock issued or outstanding. Common Stock The Company has authorized the issuance of 1,000,000,000 shares of Class A common stock and 3,500,000 shares of Class B common stock. The shares of Class A common stock and Class B common stock are identical, except with respect to voting, conversion, and transfer rights. Each share of Class A common stock is entitled to one vote. Each share of Class B common stock is entitled to 50 votes. Class A and Class B common stock have a par value of $0.001 per share and are referred to as common stock throughout the notes to the unaudited condensed consolidated financial statements, unless otherwise noted. Holders of common stock are entitled to receive any dividends as may be declared from time to time by the board of directors. Shares of Class B common stock may be converted to Class A common stock at any time at the option of the stockholder. Each share of Class B common stock will be automatically converted into one share of Class A common stock upon the earliest of the following: (i) the date that is six months following the death or incapacity of Mr. Siebel; (ii) the date that is six months following the date that Mr. Siebel is no longer providing services to the Company as an officer, employee, director, or consultant; (iii) December 11, 2040, which is the twentieth anniversary of the completion of the IPO; or (iv) the date specified by the holders of a majority of the then outstanding shares of Class B common stock, voting as a separate class. Future transfers by holders of Class B common stock will generally result in those shares converting to Class A common stock. Common Stock Subject to Repurchase Under the Company’s Amended and Restated 2012 Equity Incentive Plan (the “2012 Incentive Plan”) and the Company’s Amended and Restated 2020 Equity Incentive Plan (the “2020 Incentive Plan”), certain optionholders are allowed to exercise stock options to purchase Class A common stock prior to vesting. The Company has the right to repurchase at the original purchase price any unvested but outstanding common shares upon termination of service of the optionholder. The consideration received for an early exercise of a stock option is considered to be a deposit of the exercise price and the related amount is recorded as a liability. The net proceeds from the early exercise of such options were nil and nil during the three months ended July 31, 2022 and 2021, respectively. The liability is reclassified into equity on a ratable basis as the stock options vest. Unvested Class A common stock of 300,046 and 373,790 shares as of July 31, 2022 and April 30, 2022, respectively, were subject to such repurchase right and are legally issued and outstanding as of each period presented. See Note 8. Stock-Based Compensation for more information. Stock Repurchase Program In December 2021, the Company's board of directors approved a stock repurchase program for the repurchase of up to $100.0 million of the Company’s outstanding shares of Class A common stock for the 18 months following the date of such approval. Under the program, the Company may purchase stock in the open market or through privately negotiated transactions in accordance with applicable securities laws. The timing and actual amount of the stock repurchases will depend on several factors including price, capital availability, regulatory requirements, alternative investment opportunities and other market conditions. In March 2022, the Company repurchased and immediately retired 0.7 million shares of its Class A common stock for an aggregate amount of $15.0 million. During the three months ended July 31, 2022, the Company has not repurchased any shares of its Class A common stock. As of July 31, 2022, $85.0 million remained available for future repurchases under the program.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Summary of Business and Significant Accounting Policies (Policies)	3 Months Ended
	Jul. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation and Principles of Consolidation The Company prepares its unaudited condensed consolidated financial statements in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with U.S. GAAP. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2022, which was filed with the SEC on June 23, 2022. In management’s opinion, these unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the Company’s financial position as of July 31, 2022 and the results of operations for the three months ended July 31, 2022. The results of operations for the three months ended July 31, 2022 are not necessarily indicative of the results to be expected for the full year or any other future interim or annual period.
Principles of Consolidation	The condensed consolidated financial statements include the accounts of C3 AI and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the accompanying unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenue and expenses. Actual results and outcomes could differ significantly from the Company’s estimates, judgments, and assumptions. Significant estimates include determining standalone selling price for performance obligations in contracts with customers and estimating variable consideration, the estimated expected benefit period for deferred contract acquisition costs, the useful lives of long-lived assets and other assumptions used to measure stock-based compensation, and the valuation of deferred income tax assets and uncertain tax positions. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. As future events and their effects cannot be determined with precision, actual results could materially differ from those estimates and assumptions.
Fiscal Year	Fiscal YearThe Company’s fiscal year ends on April 30.

Balance Sheet Details

3 Months Ended

Jul. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Details

Property and Equipment

Property and equipment consisted of the following at July 31, 2022 and April 30, 2022 (in thousands):


	Useful Life	As of July 31,		As of April 30,
	(in months)	2022		2022
Leasehold improvements	*	$	8,878	$	8,878
Computer equipment	36	4,141		3,321
Office furniture and equipment	60	348		348
Capital in progress	NA	36,044		11,261
Property and equipment—gross		49,411		23,808
Less: accumulated depreciation and amortization		(10,483)		(9,291)
Property and equipment—net		$	38,928	$	14,517

__________________

*Leasehold improvements are amortized over the shorter of the estimated useful lives of the improvements or the remaining lease term.

NA = Not Applicable

Capital in progress primarily consisted of costs related to various leasehold improvements in connection with the new leased space, as described below, that have not yet been placed into service.

Depreciation and amortization expense related to property and equipment was $1.2 million and $1.1 million for the three months ended July 31, 2022 and 2021, respectively.

Accrued Compensation and Employee Benefits

Accrued compensation and employee benefits consisted of the following at July 31, 2022 and April 30, 2022 (in thousands):


	As of July 31,		As of April 30,
	2022		2022
Accrued stock-settled bonus	$	10,163	$	—
Accrued bonus	2,482		16,078
Accrued vacation	3,960		3,814
Accrued payroll taxes and benefits	3,626		3,593
Accrued commission	1,501		1,440
Accrued salaries	7,476		7,298
Accrued compensation and employee benefits	$	29,208	$	32,223

Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following at July 31, 2022 and April 30, 2022 (in thousands):


	As of July 31,		As of April 30,
	2022		2022
Liability for common stock exercised prior to vesting	$	1,597	$	1,970
Accrued general expenses	8,016		4,972
Operating lease liabilities, current	2,705		3,613
Commissions payable to a related party	2,422		2,510
Other	2,911		1,809
Accrued and other current liabilities	$	17,651	$	14,874

Net Loss Per Share Attributable to Common Stockholders

3 Months Ended

Jul. 31, 2022

Earnings Per Share [Abstract]

Net Loss Per Share Attributable to Common Stockholders

Basic and diluted net loss per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. Class A and B common shares have identical liquidation and distribution rights.

Basic net loss per share attributable to common stockholders is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase. Diluted net loss per share attributable to common stockholders is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period to the extent they are dilutive. For purposes of this calculation, stock options, RSUs and early exercised stock options subject to repurchase are considered to be potential common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is anti-dilutive. Basic net loss per share was the same as diluted net loss per share for the periods presented because the Company was in a loss position for the three months ended July 31, 2022 and 2021.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):


	Three Months Ended July 31,
	2022		2021
Numerator
Net loss attributable to common stockholders	$	(71,871)	$	(37,459)
Denominator
Basic and diluted weighted-average Class A common shares outstanding	103,342		98,655
Basic and diluted weighted-average Class B common shares outstanding	3,500		3,500
Basic and diluted net loss per share attributable to common stockholders
Basic and diluted net loss per Class A common shares outstanding	$	(0.67)	$	(0.37)
Basic and diluted net loss per Class B common shares outstanding	$	(0.67)	$	(0.37)

The potential shares of common stock that were excluded from the computation of diluted net loss per share attributable to common stockholders for the period presented because including them would have had an antidilutive effect were as follows:


	As of July 31,
	2022	2021











Stock options	36,169,293	39,433,289
RSUs	17,607,113	3,897,893

Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Jul. 31, 2022	Apr. 30, 2022
Number of Stock Options Outstanding
Balance at beginning of period (in shares)	36,338
Options granted (in shares)	40
Options exercised (in shares)	(287)
Options cancelled (in shares)	(222)
Balance at end of period (in shares)	35,869	36,338
Vested and exercisable at end of period (in shares)	17,698
Vested and expected to vest at end of period (in shares)	36,169
Weighted Average Exercise Price
Balance at beginning of period (in dollars per share)	$ 12.44
Options granted (in dollars per share)	16.74
Options exercised (in dollars per share)	18.88
Options cancelled (in dollars per share)	13.47
Balance at end of period (in dollars per share)	12.50	$ 12.44
Vested and exercisable at end of period (in dollars per share)	6.62
Vested and expected to vest at end of period (in dollars per share)	$ 12.50
Weighted Average Remaining Contractual Life (years)
Balance at beginning of period	7 years 1 month 13 days	7 years 4 months 2 days
Balance at end of period	7 years 1 month 13 days	7 years 4 months 2 days
Vested and exercisable at end of period	6 years 3 months 7 days
Vested and expected to vest at end of period	7 years 1 month 13 days
Aggregate Intrinsic Value
Balance at beginning of period	$ 211,987	$ 165,436
Balance at end of period	211,987	$ 165,436
Vested and exercisable at end of period	208,655
Vested and expected to vest at end of period	$ 213,761

Revenue - Customer Concentration and Accounts Receivable (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Jul. 31, 2022	Jul. 31, 2021	Apr. 30, 2022
Disaggregation of Revenue [Line Items]
Unbilled receivables	$ 39.3		$ 19.9
Customer Concentration Risk \| Revenue \| Customer One
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	25.00%	23.00%
Customer Concentration Risk \| Revenue \| Customer Two
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	14.00%	13.00%
Customer Concentration Risk \| Accounts Receivable \| Customer One
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	14.00%		32.00%
Customer Concentration Risk \| Accounts Receivable \| Customer Two
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage			13.00%
Customer Concentration Risk \| Accounts Receivable \| Customer Three
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage			12.00%

Stock-Based Compensation

3 Months Ended

Jul. 31, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

Stock-Based CompensationOn November 27, 2020, the Company’s board of directors adopted, and its stockholders approved, the 2020 Incentive Plan, which became effective in connection with the IPO. The 2020 Incentive Plan provides for the grant of incentive stock options, nonstatutory stock options, stock appreciation rights, restricted stock awards, restricted stock unit (“RSU”) awards, performance awards and other equity awards. The number of shares of Class A common stock reserved for issuance under the 2020 Incentive Plan is subject to automatic evergreen increases annually through (and including) May 1, 2030 pursuant to the terms of the 2020 Incentive Plan. There was an automatic annual increase on May 1, 2022 in the number of shares reserved for future issuance pursuant to the 2020 Incentive Plan in an amount equal to five percent (5%) of the total number of shares of the Company’s Class A common stock and Class B common stock outstanding on April 30, 2022.

On November 27, 2020, the Company’s board of directors also adopted, and its stockholders also approved, the 2020 Employee Stock Purchase Plan (the “2020 ESPP”), which became effective immediately prior to the IPO. The 2020 ESPP authorizes the issuance of shares of Class A common stock pursuant to purchase rights granted to employees. A total of 3,000,000 shares of Class A common stock were initially reserved for future issuance under the 2020 ESPP. The number of shares of Class A common stock reserved for issuance under the 2020 ESPP is subject to automatic evergreen increases annually through (and including) May 1, 2030 pursuant to the terms of the 2020 ESPP. There was an automatic annual increase on May 1, 2022 in the number of shares reserved for future issuance pursuant to the 2020 ESPP in an amount equal to one percent (1%) of the total number of shares of the Company’s Class A common stock and Class B common stock outstanding on April 30, 2022. The 2020 ESPP permits participants to purchase shares of Class A common stock in an amount not exceeding 15% of their earnings during the relevant offering period. The offering dates and purchase dates for the 2020 ESPP are determined at the discretion of the Company’s board of directors. As of July 31, 2022, the Company had not yet launched its 2020 ESPP.

Stock Options to Acquire Class A Common Stock

Stock options generally expire 10 years from the date of grant, or earlier if services are terminated. Generally, each stock option for common stock is subject to a vesting schedule such that one fifth of the award vests after the first-year anniversary and one-sixtieth of the award vests each month thereafter over the remaining four years, subject to continuous service.

A summary of the Company’s option activity during the three months ended July 31, 2022 is as follows:


	Options Outstanding
	Number of Stock Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value
	(in thousands)				(in thousands)
Balance as of April 30, 2022	36,338	$	12.44	7.34	$	165,436
Options granted	40	16.74
Options exercised	(287)	18.88
Options cancelled	(222)	13.47
Balance as of July 31, 2022	35,869	$	12.50	7.12	$	211,987
Vested and exercisable as of July 31, 2022	17,698	$	6.62	6.27	$	208,655
Vested and expected to vest as of July 31, 2022(1)	36,169	$	12.50	7.12	$	213,761

(1) The number of options vested and expected to vest as of July 31, 2022 includes early exercised, unvested Class A common stock. Refer to Note 7. Stockholders’ Equity for more information.

As of July 31, 2022, there was $138.6 million of unrecognized compensation cost related to stock options which are expected to be recognized over an estimated weighted-average period of 3.1 years.

The grant-date fair value of the options issued for the three months ended July 31, 2022 is estimated on the date of grant using the Black-Scholes-Merton option pricing model. The weighted average assumptions underlying the fair value estimation are provided in the following table:


	As of July 31,
	2022		2021
Valuation assumptions:
Expected dividend yield	—	%	—	%
Expected volatility	45.0	%	44.5	%
Expected term (years)	6.5		6.3
Risk-free interest rate	2.9	%	0.8	%

Restricted Stock Units

The RSUs are typically subject to service-based vesting conditions satisfied over five years with one-fifth of the award vesting after the first-year anniversary and one-twenty-fifth of the award vesting quarterly thereafter. The related stock-based compensation is recognized on a straight-line basis over the requisite service period.

A summary of the Company’s RSU activity during the three months ended July 31, 2022 is as follows:


	RSUs Outstanding
	Number of RSUs	Weighted Average Grant Date Fair Value Per Share
	(in thousands)
Unvested Balance as of April 30, 2022	12,109	$	36.04
RSUs granted	8,969	17.84
RSUs vested	(1,841)	30.59
RSUs forfeited	(1,630)	36.11
Unvested Balance as of July 31, 2022	17,607	$	27.29

As of July 31, 2022, there was $428.1 million of unrecognized stock-based compensation expense related to outstanding RSUs granted to employees that is expected to be recognized over a weighted-average period of 3.7 years.

In June 2022, the Compensation Committee of the board of directors approved the payment of fiscal year 2022 bonuses under the Company’s annual bonus program by issuing shares of Class A common stock to employees through fully vested RSUs. The Company issued 811,790 shares of Class A common stock pursuant to this program in the three months ended July 31, 2022.

Shares issued under this bonus program were issued from the 2020 Incentive Plan and reduce the 2020 Incentive Plan shares available for issuance.

Beginning in fiscal year 2023, the Company records stock-based compensation associated with the Company’s annual bonus program that will be settled by shares of Class A common stock issued through fully vested RSUs.

Stock-based Compensation Expense

The following table summarizes the effects of stock-based compensation on the Company’s condensed consolidated statements of operations (in thousands):


	Three Months Ended July 31,
	2022		2021
Cost of subscription	$	4,272	$	821
Cost of professional services	1,071		602
Sales and marketing	16,779		6,135
Research and development	25,217		2,758
General and administrative	9,291		3,596
Total stock-based compensation expense	$	56,630	$	13,912

As of July 31, 2022, approximately $10.2 million of stock-based compensation expense was accrued and reflected under accrued compensation and employee benefits in the condensed consolidated balance sheets.

Revenue - Disaggregated Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 65,308	$ 52,406
North America
Disaggregation of Revenue [Line Items]
Total revenue	$ 51,938	$ 36,452
United States \| Revenue \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Geographic concentration risk, percentage	79.00%	69.00%
Europe, the Middle East and Africa
Disaggregation of Revenue [Line Items]
Total revenue	$ 10,703	$ 12,219
France \| Revenue \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Geographic concentration risk, percentage		13.00%
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	2,367	$ 3,735
Rest of World
Disaggregation of Revenue [Line Items]
Total revenue	$ 300	$ 0

Related Party Disclosures (Tables)

3 Months Ended

Jul. 31, 2022

Schedule of Related Party Transactions

Revenue recognized under the arrangement were as follows (in thousands):


	Three Months Ended July 31,
	2022		2021
Direct subscription	$	16,330	$	10,208
Direct professional services	129		2,075
Total revenue from direct subscription and professional services	16,459		12,283
Total revenue from certain customers in Oil and Gas field related to the Baker Hughes arrangement	7,110		3,867
Total revenue related to the arrangement	$	23,569	$	16,150

The remaining performance obligations related to Baker Hughes, which includes both direct subscriptions and reseller arrangements, is comprised of (in thousands):


	As of July 31,
	2022		2021
Deferred revenue	$	2,051	$	25,146
Commitments from non-cancellable contracts	195,949		69,858
Total remaining performance obligations	$	198,000	$	95,004

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Jul. 31, 2022	Aug. 29, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 31, 2022
Document Transition Report	false
Entity File Number	001-39744
Entity Registrant Name	C3.ai, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-3999357
Entity Address, Address Line One	1300 Seaport Blvd,
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Redwood City,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94063
City Area Code	650
Local Phone Number	503-2200
Title of 12(b) Security	Class A Common Stock, par value $0.001 per share
Trading Symbol	AI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Current Fiscal Year End Date	--04-30
Amendment Flag	false
Entity Central Index Key	0001577526
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		104,981,537
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		3,499,992

Fair Value Measurements

3 Months Ended

Jul. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

The Company’s financial instruments consist primarily of cash equivalents, restricted cash, available-for-sale marketable securities, accounts receivable, and accounts payable. Cash and cash equivalents and available-for-sale marketable securities are reported at their respective fair values on the condensed consolidated balance sheets. The remaining financial instruments are reported on the condensed consolidated balance sheets at amounts that approximate current fair values.

The following table summarizes the types of assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):


	As of July 31, 2022								As of April 30, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	112,208	$	—	$	—	$	112,208	$	107,726	$	—	$	—	$	107,726
Certificates of deposit	—		5,000		—		5,000		—		3,000		—		3,000
Commercial paper	—		61,756		—		61,756		—		142,511		—		142,511
Corporate debt securities	—		1,779		—		1,779		—		8,884		—		8,884
Available-for-sale marketable securities:
U.S. treasury securities	—		12,789		—		12,789		—		12,763		—		12,763
Certificates of deposit	—		95,054		—		95,054		—		97,205		—		97,205
U.S. government agencies securities	—		22,009		—		22,009		—		13,890		—		13,890
Commercial paper	—		280,168		—		280,168		—		241,132		—		241,132
Corporate debt securities	—		306,262		—		306,262		—		287,729		—		287,729
Total cash equivalents and available-for-sale marketable securities	$	112,208	$	784,817	$	—	$	897,025	$	107,726	$	807,114	$	—	$	914,840

The estimated fair value of securities classified as Level 2 financial instruments was determined based on third-party pricing services. The pricing services utilize industry standard valuation models, including both income- and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. Inputs used for fair value measurement categorized as Level 2 include benchmark yields, reported trades, broker or dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Balance Sheet Details - Accrued Compensation and Employee Benefits (Details) - USD ($) $ in Thousands	Jul. 31, 2022	Apr. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued stock-settled bonus	$ 10,163	$ 0
Accrued bonus	2,482	16,078
Accrued vacation	3,960	3,814
Accrued payroll taxes and benefits	3,626	3,593
Accrued commission	1,501	1,440
Accrued salaries	7,476	7,298
Accrued compensation and employee benefits	$ 29,208	$ 32,223

Net Loss Per Share Attributable to Common Stockholders - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Numerator
Net loss attributable to common stockholders	$ (71,871)	$ (37,459)
Denominator
Basic weighted-average common shares outstanding (in shares)	106,842,000	102,155,000
Diluted weighted-average common shares outstanding (in shares)	106,842,000	102,155,000
Basic and diluted net loss per share attributable to common stockholders
Basic net loss per common shares outstanding (in dollars per share)	$ (0.67)	$ (0.37)
Diluted net loss per common shares outstanding (in dollars per share)	$ (0.67)	$ (0.37)
Class A Common Stock
Denominator
Basic weighted-average common shares outstanding (in shares)	103,342,000	98,655,000
Diluted weighted-average common shares outstanding (in shares)	103,342,000	98,655,000
Basic and diluted net loss per share attributable to common stockholders
Basic net loss per common shares outstanding (in dollars per share)	$ (0.67)	$ (0.37)
Diluted net loss per common shares outstanding (in dollars per share)	$ (0.67)	$ (0.37)
Class B Common Stock
Denominator
Basic weighted-average common shares outstanding (in shares)	3,500,000	3,500,000
Diluted weighted-average common shares outstanding (in shares)	3,500,000	3,500,000
Basic and diluted net loss per share attributable to common stockholders
Basic net loss per common shares outstanding (in dollars per share)	$ (0.67)	$ (0.37)
Diluted net loss per common shares outstanding (in dollars per share)	$ (0.67)	$ (0.37)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($)
$ in Thousands

3 Months Ended

Jul. 31, 2022

Jul. 31, 2021

Related party cost of revenue

$ 18,406

$ 13,025

Related party sales and marketing

^[1]

42,987

36,822

Investor

Related party sales and marketing

3,500

Subscription

Related party cost of revenue

^[2]

14,092

9,213

Subscription | Investor

Related party revenue

16,330

10,208

Related party cost of revenue

117

Professional services

Related party cost of revenue

4,314

3,812

Professional services | Investor

Related party revenue

$ 129

$ 2,074

[1]	Including related party sales and marketing expense of $3,500 and $61 for the three months ended July 31, 2022 and 2021, respectively.
[2]	Including related party cost of revenue of nil and $117 for the three months ended July 31, 2022 and 2021, respectively.

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

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+ Details

- Definition

Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.

+ References

+ Details

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Jul. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Non-cancellable Purchase Commitments The Company entered into a non-cancellable arrangement with a web-hosting services provider in November 2019. Under the arrangement, the Company committed to spend an aggregate of at least $30.0 million between November 2019 and November 2022, with a minimum amount of $10.0 million in each of the three years, on services with this vendor. The Company has incurred costs totaling $4.1 million and $3.2 million during the three months ended July 31, 2022 and 2021, respectively, under the arrangement. The Company entered into a non-cancellable arrangement with a cloud services provider in July 2022. Under the arrangement, the Company committed to spend an aggregate of at least $100.0 million for the period of three years beginning July 2022, on services with this vendor. The Company has incurred immaterial costs under the arrangement during the three months ended July 31, 2022. C3.ai Digital Transformation Institute Grants In February 2020, the Company entered into an agreement establishing the C3.ai Digital Transformation Institute (“C3.ai DTI”), a program established to attract many of the world’s leading research institutions to join in a coordinated and innovative effort to advance the digital transformation of business, government, and society. As part of the agreement, the Company has agreed to issue grants to C3.ai DTI, which are subject to compliance with certain obligations. The grants shall be paid by the Company over five years in the form of cash, publicly traded securities, or other property of equivalent net value. As of July 31, 2022 and April 30, 2022, the total potential remaining contributions are $31.6 million and $31.6 million, respectively. The future grant payments are conditional in nature and subject to execution of the program in line with specific requirements. Leases On August 25, 2021, the Company entered into a new lease to acquire approximately 283,015 square feet of office space in several phases in Redwood City, California. Total undiscounted base rent payments over the term of this lease are approximately $103.1 million. In addition to base rent, the Company will be responsible for the Company’s allocated share of costs incurred and expenditures made by the landlord in the operation and management of the leased space. Under the terms of the lease agreement, the Company has a rent abatement with respect to each phase for the initial six months following the rent commencement date for such phase, with initial monthly base rent payments expected to commence April 1, 2023, which will be approximately $0.5 million at commencement and will increase up to a maximum monthly base rent of approximately $1.0 million. The lease agreement also includes an aggregate tenant improvement allowance of $44.2 million for certain costs. The term of the lease is 126 months from the date that rent commences with respect to phase one of the leased space, which will be nine months after the date when phase one of the leased space is delivered to the Company. Pursuant to the lease agreement, the Company provided the landlord an unconditional and irrevocable letter of credit of $12.6 million, which is subject to reduction pursuant to the terms of the lease agreement. The lease commencement date of the first two phases was determined to have occurred in the quarter ended January 31, 2022, when the landlord delivered the leased space to the Company. The Company recorded $26.5 million of lease liability in other long-term liabilities and corresponding right-of-use asset in other assets, non-current in the condensed consolidated balance sheets. Legal Proceedings The Company is involved in various legal proceedings and periodically receives claims arising in the ordinary course of business. In the Company’s opinion, resolution of these matters is not expected to have a material adverse impact on its condensed consolidated statement of operations, cash flows, or balance sheet. Securities Litigation On March 4, 2022, a putative securities class action complaint (captioned The Reckstin Family Trust v. C3.ai, Inc. et al., 22-cv-01413-HSG) was filed in the U.S. District Court for the Northern District of California against the Company, and certain current and former officers and directors. The complaint generally alleges that the defendants made material misstatements or omissions about the Company’s partnership with Baker Hughes and other strategic alliances, the Company’s market potential, and the uptake of the Company’s products. The complaint alleges that defendants made these misstatements or omissions in connection with the Company’s initial public offering (“IPO”) in violation of Sections 11 and 15 of the Securities Act of 1933 and between December 9, 2020 and February 15, 2022, inclusive, in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The complaint seeks unspecified damages, interest, fees and costs. Additionally, on May 23, 2022, a putative shareholder derivative action (captioned Suri v. Siebel et al., 22-cv-03031) was filed in the U.S. District Court for the Northern District of California. The plaintiff asserts claims on the Company’s behalf against certain of the Company’s officers and directors for breach of fiduciary duty, gross mismanagement, abuse of control, unjust enrichment, and contribution under the Securities Exchange Act of 1934 based on allegations similar to those in the securities class action. The Company is named as a nominal defendant. The derivative complaint seeks unspecified damages, an award of costs and expenses, including reasonable attorneys’ fees, and corporate governance reforms. The Company does not believe the claims have merit. As of the date of this report, the Company does not believe it is probable that these cases will result in an unfavorable outcome; however, if an unfavorable outcome were to occur in these cases, it is possible that the impact could be material to the Company's results of operations in the period(s) in which any such outcome becomes probable and estimable. In addition, from time to time, the Company is involved in various other legal proceedings arising in the ordinary course of business. Apart from the foregoing, the Company is not presently a party to any other such litigation the outcome of which, the Company believes, if determined adversely to the Company, would individually, or taken together, have a material adverse effect on the Company’s business, operating results, cash flows, or financial condition.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning Balance, shares (in shares) at Apr. 30, 2021		102,167
Beginning Balance, Amount at Apr. 30, 2021	$ 1,061,175	$ 102	$ 1,410,325	$ 81	$ (349,333)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options, net of repurchases (in shares)		1,693
Issuance of Class A common stock upon exercise of stock options, net of repurchases	5,002	$ 2	5,000
Vesting of early exercised Class A common stock options	1,059		1,059
Vesting of restricted stock units (in shares)		8
Stock-based compensation expense	13,912		13,912
Other comprehensive income (loss)	106			106
Net loss	(37,459)				(37,459)
Ending Balance, shares (in shares) at Jul. 31, 2021		103,868
Ending Balance, Amount at Jul. 31, 2021	1,043,795	$ 104	1,430,296	187	(386,792)
Beginning Balance, shares (in shares) at Apr. 30, 2022		106,225
Beginning Balance, Amount at Apr. 30, 2022	$ 989,477	$ 106	1,532,917	(2,148)	(541,398)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options, net of repurchases (in shares)	287	278
Issuance of Class A common stock upon exercise of stock options, net of repurchases	$ 1,101	$ 0	1,101
Vesting of early exercised Class A common stock options	333		333
Vesting of restricted stock units (in shares)		1,841
Vesting of restricted stock units	13,671	$ 2	13,669
Stock-based compensation expense	46,467		46,467
Other comprehensive income (loss)	(200)			(200)
Net loss	(71,871)				(71,871)
Ending Balance, shares (in shares) at Jul. 31, 2022		108,344
Ending Balance, Amount at Jul. 31, 2022	$ 978,978	$ 108	$ 1,594,487	$ (2,348)	$ (613,269)

Income Taxes	3 Months Ended
Income Taxes	Jul. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Accounting for income taxes for interim periods generally requires the provision for income taxes to be determined by applying an estimate of the annual effective tax rate for the full fiscal year to income or loss before income taxes, adjusted for discrete items, if any, for the reporting period. The Company updates its estimate of the annual effective tax rate each quarter and makes a cumulative adjustment in such period. The Company recorded income tax expense of $0.2 million and $0.4 million for the three months ended July 31, 2022 and 2021, respectively. Income tax expense consists primarily of income taxes in foreign jurisdictions in which the Company conducts business. Due to the Company’s history of losses in the United States, a full valuation allowance on substantially all of the Company’s deferred tax assets, including net operating loss carryforwards, research and development tax credits, and other book versus tax differences, was maintained. The American Rescue Plan Act of 2021 (“ARPA”) was enacted by the United States on March 11, 2021. The ARPA did not have a material impact on the Company’s provision for income taxes for the three months ended July 31, 2022

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Summary of Business and Significant Accounting Policies	3 Months Ended
Summary of Business and Significant Accounting Policies	Jul. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Business and Significant Accounting Policies	Summary of Business and Significant Accounting Policies Business C3.ai, Inc. (including its subsidiaries, “C3 AI” or “the Company”) is an enterprise artificial intelligence (“AI”) software provider. The Company’s C3 AI Application Platform supports accelerating digital transformation in various industries with prebuilt and configurable C3 AI Applications for business use cases including predictive maintenance, fraud detection, sensor network health, supply network optimization, energy management, anti-money laundering, and customer engagement. The Company supports customers in the United States, Europe, and the rest of the world. The Company was initially formed as a limited liability company in Delaware on January 8, 2009 and converted to a Delaware corporation in June 2012. Basis of Presentation and Principles of Consolidation The Company prepares its unaudited condensed consolidated financial statements in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Accordingly, they do not include all disclosures normally required in annual consolidated financial statements prepared in accordance with U.S. GAAP. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended April 30, 2022, which was filed with the SEC on June 23, 2022. In management’s opinion, these unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the Company’s financial position as of July 31, 2022 and the results of operations for the three months ended July 31, 2022. The results of operations for the three months ended July 31, 2022 are not necessarily indicative of the results to be expected for the full year or any other future interim or annual period. The condensed consolidated financial statements include the accounts of C3 AI and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of the accompanying unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenue and expenses. Actual results and outcomes could differ significantly from the Company’s estimates, judgments, and assumptions. Significant estimates include determining standalone selling price for performance obligations in contracts with customers and estimating variable consideration, the estimated expected benefit period for deferred contract acquisition costs, the useful lives of long-lived assets and other assumptions used to measure stock-based compensation, and the valuation of deferred income tax assets and uncertain tax positions. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. As future events and their effects cannot be determined with precision, actual results could materially differ from those estimates and assumptions. Fiscal Year The Company’s fiscal year ends on April 30. Summary of Significant Accounting Policies The Company’s significant accounting policies are discussed in Note 1. Summary of Business and Significant Accounting Policies in the Notes to Consolidated Financial Statements in its Annual Report on Form 10-K for the fiscal year ended April 30, 2022, which was filed with the SEC on June 23, 2022. There have been no significant changes to these policies during the three months ended July 31, 2022.

Stock-Based Compensation - Valuation Assumptions (Details)	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Valuation assumptions:
Expected dividend yield	0.00%	0.00%
Expected volatility	45.00%	44.50%
Expected term (years)	6 years 6 months	6 years 3 months 18 days
Risk-free interest rate	2.90%	0.80%

Related Party Transactions - Revenues Recognized For Related Party Transactions (Details) - Software Subscription Agreement - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Related Party Transaction [Line Items]
Related party revenue	$ 23,569	$ 16,150
Baker Hughes Company
Related Party Transaction [Line Items]
Related party revenue	16,459	12,283
Certain Customers In Oil And Gas Field
Related Party Transaction [Line Items]
Related party revenue	7,110	3,867
Subscription \| Baker Hughes Company
Related Party Transaction [Line Items]
Related party revenue	16,330	10,208
Professional services \| Baker Hughes Company
Related Party Transaction [Line Items]
Related party revenue	$ 129	$ 2,075

- Definition

+ References

+ Details

Investments (Tables)

3 Months Ended

Jul. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-For-Sale Debt Securities and Balance Sheet Classification

The following table summarizes the Company’s cash equivalents and available-for-sale marketable securities (in thousands):


	As of July 31, 2022								As of April 30, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	112,208	$	—	$	—	$	112,208	$	107,726	$	—	$	—	$	107,726
Certificates of deposit	5,000						5,000		3,000		—		—		3,000
Commercial paper	61,756		—		—		61,756		142,511		—		—		142,511
Corporate debt securities	1,779		—		—		1,779		8,889		—		(5)		8,884
Available-for-sale marketable securities:
U.S. treasury securities	12,795		—		(6)		12,789		12,764		—		(1)		12,763
Certificates of deposit	95,054		—		—		95,054		97,205		—		—		97,205
U.S. government agencies securities	22,307		—		(298)		22,009		14,113		—		(223)		13,890
Commercial paper	280,168		—		—		280,168		241,134		—		(2)		241,132
Corporate debt securities	308,306		5		(2,049)		306,262		289,646		20		(1,937)		287,729
Total cash equivalents and available-for-sale marketable securities	$	899,373	$	5	$	(2,353)	$	897,025	$	916,988	$	20	$	(2,168)	$	914,840

Summary of Available-For-Sale Debt Securities by Contractual Maturity

The following table summarizes the Company’s available-for-sale marketable securities by contractual maturity (in thousands):


	As of July 31, 2022				As of April 30, 2022
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Within one year	$	687,642	$	685,397	$	622,517	$	620,633
After one year through five years	30,988		30,885		32,345		32,086
Total	$	718,630	$	716,282	$	654,862	$	652,719

Summary of Available-For-Sale Marketable Securities, Fair Values and Unrealized Losses

The following table summarizes the fair values and unrealized losses of the Company’s available-for-sale marketable securities classified by length of time that the securities have been in a continuous unrealized loss position but were not deemed to be other-than-temporarily impaired, as of July 31, 2022 (in thousands):


	As of July 31, 2022
	Less Than 12 Months				12 Months or Greater				Total
	Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value
U.S. treasury securities	$	(6)	$	12,789	$	—	$	—	$	(6)	$	12,789

U.S. government agencies securities	(273)		18,443		(25)		3,566		(298)		22,009
Commercial paper	—		3,000		—		—		—		3,000
Corporate debt securities	(1,968)		276,734		(81)		16,605		(2,049)		293,339
Total	$	(2,247)	$	310,966	$	(106)	$	20,171	$	(2,353)	$	331,137

Balance Sheet Details - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation expense	$ 1.2	$ 1.1

Investments - Available-for Sale Debt Securities by Contractual Maturity (Details) - Debt Securities, Available-For-Sale, Excluding Money Market Accounts - USD ($) $ in Thousands	Jul. 31, 2022	Apr. 30, 2022
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract]
AFS Debt Maturities, Within one year, Amortized Cost	$ 687,642	$ 622,517
AFS Debt Maturities, After one year through five years, Amortized Cost	30,988	32,345
Amortized Cost	718,630	654,862
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]
AFS Debt Maturities, Within one year, Fair Value	685,397	620,633
AFS Debt Maturities, After one year through five years, Fair Value	30,885	32,086
AFS Debt Maturities, Total Fair Value	$ 716,282	$ 652,719

Investments

3 Months Ended

Jul. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Investments

Cash Equivalents and Available-for-Sale Marketable Securities

The following table summarizes the Company’s cash equivalents and available-for-sale marketable securities (in thousands):


	As of July 31, 2022								As of April 30, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	112,208	$	—	$	—	$	112,208	$	107,726	$	—	$	—	$	107,726
Certificates of deposit	5,000						5,000		3,000		—		—		3,000
Commercial paper	61,756		—		—		61,756		142,511		—		—		142,511
Corporate debt securities	1,779		—		—		1,779		8,889		—		(5)		8,884
Available-for-sale marketable securities:
U.S. treasury securities	12,795		—		(6)		12,789		12,764		—		(1)		12,763
Certificates of deposit	95,054		—		—		95,054		97,205		—		—		97,205
U.S. government agencies securities	22,307		—		(298)		22,009		14,113		—		(223)		13,890
Commercial paper	280,168		—		—		280,168		241,134		—		(2)		241,132
Corporate debt securities	308,306		5		(2,049)		306,262		289,646		20		(1,937)		287,729
Total cash equivalents and available-for-sale marketable securities	$	899,373	$	5	$	(2,353)	$	897,025	$	916,988	$	20	$	(2,168)	$	914,840

The following table summarizes the Company’s available-for-sale marketable securities by contractual maturity (in thousands):


	As of July 31, 2022				As of April 30, 2022
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Within one year	$	687,642	$	685,397	$	622,517	$	620,633
After one year through five years	30,988		30,885		32,345		32,086
Total	$	718,630	$	716,282	$	654,862	$	652,719


	As of July 31, 2022
	Less Than 12 Months				12 Months or Greater				Total
	Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value
U.S. treasury securities	$	(6)	$	12,789	$	—	$	—	$	(6)	$	12,789

U.S. government agencies securities	(273)		18,443		(25)		3,566		(298)		22,009
Commercial paper	—		3,000		—		—		—		3,000
Corporate debt securities	(1,968)		276,734		(81)		16,605		(2,049)		293,339
Total	$	(2,247)	$	310,966	$	(106)	$	20,171	$	(2,353)	$	331,137

As of July 31, 2022, the Company had 296 investment positions in an unrealized loss position. As of April 30, 2022, the Company had 284 investment positions that were in an unrealized loss position. The Company considers factors such as the duration, the magnitude and the reason for the decline in value, the potential recovery period, creditworthiness of the issuers of the securities and its intent to sell. For marketable securities, it also considers whether (i) it is more likely than not that the Company will be required to sell the debt securities before recovery of their amortized cost basis, and (ii) the amortized cost basis cannot be recovered as a result of credit losses. No significant facts or circumstances have arisen to indicate that there has been any significant deterioration in the creditworthiness of the issuers of the securities held by the Company. Based on the Company’s review of these securities, including the assessment of the duration and severity of the unrealized losses and the Company’s ability and intent to hold the investments until maturity, there were no other-than-temporary impairments for these marketable securities at July 31, 2022.

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands

Jul. 31, 2022

Apr. 30, 2022

Accounts receivable, allowance

$ 57

$ 157

Accounts receivable, net, from related party

33,608

35,848

Prepaid expenses and other current assets, from related party

^[1]

18,056

20,004

Other assets, non-current, due from related party

^[2]

60,097

63,218

Accounts payable, from related party

4,688

18,549

Deferred revenue, current, from related party

^[3]

43,644

48,854

Accrued and other current liabilities, from related party

^[4]

17,651

14,874

Other long-term liabilities, from related party

2,448

4,862

Other assets, non-current, due from related party

14,925

16,141

Deferred revenue, current, from related party

132

Accrued and other current liabilities, from related party

$ 2,422

$ 2,510

Class A Common Stock

Common stock, par value (in dollars per share)

$ 0.001

Common stock, shares authorized (in shares)

1,000,000,000

Common stock, shares issued (in shares)

104,843,908

102,725,041

Common stock, shares outstanding (in shares)

104,843,908

102,725,041

Class B Common Stock

Common stock, par value (in dollars per share)

$ 0.001

Common stock, shares authorized (in shares)

3,500,000

Common stock, shares issued (in shares)

3,499,992

Common stock, shares outstanding (in shares)

3,499,992

[1]	Including amounts from a related party of $4,862 and $4,862 as of July 31, 2022 and April 30, 2022, respectively.
[2]	Including amounts from a related party of $14,925 and $16,141 as of July 31, 2022 and April 30, 2022, respectively.
[3]	Including amounts from a related party of $81 and $132 as of July 31, 2022 and April 30, 2022, respectively.
[4]	Including amounts from a related party of $2,422 and $2,510 as of July 31, 2022 and April 30, 2022, respectively.

Net Loss Per Share Attributable to Common Stockholders (Tables)

3 Months Ended

Jul. 31, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Loss Per Share

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):


	Three Months Ended July 31,
	2022		2021
Numerator
Net loss attributable to common stockholders	$	(71,871)	$	(37,459)
Denominator
Basic and diluted weighted-average Class A common shares outstanding	103,342		98,655
Basic and diluted weighted-average Class B common shares outstanding	3,500		3,500
Basic and diluted net loss per share attributable to common stockholders
Basic and diluted net loss per Class A common shares outstanding	$	(0.67)	$	(0.37)
Basic and diluted net loss per Class B common shares outstanding	$	(0.67)	$	(0.37)

Schedule of Potential Shares of Common Stock Excluded from Computation of Basic and Diluted Net Loss Per Share


	As of July 31,
	2022	2021











Stock options	36,169,293	39,433,289
RSUs	17,607,113	3,897,893

Related Party Transactions - Remaining Performance Obligations (Details) - USD ($) $ in Thousands	Jul. 31, 2022	Apr. 30, 2022	Jul. 31, 2021
Related Party Transaction [Line Items]
Deferred revenue	$ 43,700	$ 49,100
Total remaining performance obligations	458,200
Software Subscription Agreement \| Baker Hughes Company
Related Party Transaction [Line Items]
Deferred revenue	2,051		$ 25,146
Commitments from non-cancellable contracts	195,949		69,858
Total remaining performance obligations	$ 198,000		$ 95,004

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Jul. 31, 2022	Jul. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense	$ 0.2	$ 0.4

Fair Value Measurements (Tables)

3 Months Ended

Jul. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on a Recurring Basis

The following table summarizes the types of assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):


	As of July 31, 2022								As of April 30, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	112,208	$	—	$	—	$	112,208	$	107,726	$	—	$	—	$	107,726
Certificates of deposit	—		5,000		—		5,000		—		3,000		—		3,000
Commercial paper	—		61,756		—		61,756		—		142,511		—		142,511
Corporate debt securities	—		1,779		—		1,779		—		8,884		—		8,884
Available-for-sale marketable securities:
U.S. treasury securities	—		12,789		—		12,789		—		12,763		—		12,763
Certificates of deposit	—		95,054		—		95,054		—		97,205		—		97,205
U.S. government agencies securities	—		22,009		—		22,009		—		13,890		—		13,890
Commercial paper	—		280,168		—		280,168		—		241,132		—		241,132
Corporate debt securities	—		306,262		—		306,262		—		287,729		—		287,729
Total cash equivalents and available-for-sale marketable securities	$	112,208	$	784,817	$	—	$	897,025	$	107,726	$	807,114	$	—	$	914,840

Related Party Transactions (Details) - USD ($)
$ in Thousands

1 Months Ended

3 Months Ended

Oct. 31, 2021

Jun. 30, 2020

Jun. 30, 2019

Jul. 31, 2022

Jul. 31, 2021

Apr. 30, 2022

Accounts receivable, net, inclusive of unbilled receivables from related party

$ 33,608

$ 35,848

Deferred revenue, current

^[1]

43,644

48,854

Sales and marketing expenses

^[2]

42,987

$ 36,822

Accounts payable, from related party

4,688

18,549

Commissions payable to a related party

$ 2,422

2,510

Software Subscription Agreement | Baker Hughes Company

Revenue commitment, fiscal year 2020

$ 46,700

Revenue commitment, fiscal year 2021

53,300

Revenue commitment, fiscal year 2022

75,000

Revenue commitment, fiscal year 2023

$ 85,000

125,000

Revenue commitment, fiscal year 2024

110,000

$ 150,000

Revenue commitment, fiscal year 2025

$ 125,000

Baker Hughes Company | Software Subscription Agreement

Revenue commitment, term

6 years

5 years

3 years

Sales commissions, recognized as deferred costs

16,000

Deferred costs, sales commissions, amortization period

5 years

Accounts receivable, net, inclusive of unbilled receivables from related party

$ 33,600

35,800

Deferred revenue, current

100

Costs of subscription revenue

100

Sales and marketing expenses

3,500

100

Accounts payable, from related party

4,700

18,500

Deferred costs, sales commissions, prepaid expense and other current assets

4,900

Deferred costs, sales commissions, other assets, non-current

14,900

16,100

Deferred costs, sales commissions, amortization

1,200

400

Sales commissions paid

16,000

$ 3,400

Commissions payable to a related party

2,400

2,500

Due to related parties, noncurrent

2,400

Baker Hughes Company | Software Subscription Agreement | Unbilled Revenues

Accounts receivable, net, inclusive of unbilled receivables from related party

$ 33,100

$ 16,500

[1]	Including amounts from a related party of $81 and $132 as of July 31, 2022 and April 30, 2022, respectively.
[2]	Including related party sales and marketing expense of $3,500 and $61 for the three months ended July 31, 2022 and 2021, respectively.

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands

Jul. 31, 2022

Apr. 30, 2022

Current assets

Cash and cash equivalents

$ 221,883

$ 339,528

Short-term investments

685,397

620,633

Accounts receivable, net of allowance of $57 and $157 as of July 31, 2022 and April 30, 2022, respectively

^[1]

81,298

80,271

Prepaid expenses and other current assets

^[2]

18,056

20,004

Total current assets

1,006,634

1,060,436

Property and equipment, net

38,928

14,517

Goodwill

625

Long-term investments

30,885

32,086

Other assets, non-current

^[3]

60,097

63,218

Total assets

1,137,169

1,170,882

Current liabilities

Accounts payable

^[4]

40,748

54,218

Accrued compensation and employee benefits

29,208

32,223

Deferred revenue, current

^[5]

43,644

48,854

Accrued and other current liabilities

^[6]

17,651

14,874

Total current liabilities

131,251

150,169

Deferred revenue, non-current

288

Other long-term liabilities

^[7]

26,919

30,948

Total liabilities

158,191

181,405

Commitments and contingencies (note 6)

Stockholders’ equity

Additional paid-in capital

1,594,487

1,532,917

Accumulated other comprehensive loss

(2,348)

(2,148)

Accumulated deficit

(613,269)

(541,398)

Total stockholders’ equity

978,978

989,477

Total liabilities and stockholders’ equity

1,137,169

1,170,882

Class A Common Stock

Stockholders’ equity

Common stock

105

103

Class B Common Stock

Stockholders’ equity

Common stock

$ 3

[1]	Including amounts from a related party of $33,608 and $35,848 as of July 31, 2022 and April 30, 2022, respectively.
[2]	Including amounts from a related party of $4,862 and $4,862 as of July 31, 2022 and April 30, 2022, respectively.
[3]	Including amounts from a related party of $14,925 and $16,141 as of July 31, 2022 and April 30, 2022, respectively.
[4]	Including amounts from a related party of $4,688 and $18,549 as of July 31, 2022 and April 30, 2022, respectively.
[5]	Including amounts from a related party of $81 and $132 as of July 31, 2022 and April 30, 2022, respectively.
[6]	Including amounts from a related party of $2,422 and $2,510 as of July 31, 2022 and April 30, 2022, respectively.
[7]	Including amounts from a related party of nil and $2,448 as of July 31, 2022 and April 30, 2022, respectively.

Balance Sheet Details - Accrued and Other Current Liabilities (Details) - USD ($)
$ in Thousands

Jul. 31, 2022

Apr. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Liability for common stock exercised prior to vesting

$ 1,597

$ 1,970

Accrued general expenses

8,016

4,972

Operating lease liabilities, current

2,705

3,613

Commissions payable to a related party

2,422

2,510

Other

2,911

1,809

Accrued and other current liabilities

^[1]

$ 17,651

$ 14,874

[1]	Including amounts from a related party of $2,422 and $2,510 as of July 31, 2022 and April 30, 2022, respectively.

- Definition

Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).

+ References

+ Details

Stockholders' Equity (Details)	1 Months Ended		3 Months Ended		12 Months Ended
Stockholders' Equity (Details)	Mar. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($)	Jul. 31, 2022 USD ($) vote $ / shares shares	Jul. 31, 2021 USD ($)	Apr. 30, 2022 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, shares authorized (in shares)			200,000,000
Preferred stock, par value (in dollars per share) \| $ / shares			$ 0.001
Preferred stock, shares issued (in shares)			0
Preferred stock, shares outstanding (in shares)			0
Automatic conversion period, following the death or incapacity of Mr. Siebel			6 months
Automatic conversion period, following the date Mr. Siebel no longer providing services			6 months
Automatic conversion, anniversary period, if circumstances met			20 years
Net proceeds common stock exercised prior to vesting \| $			$ 0	$ 0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares subject to repurchase right (in shares)			300,046		373,790
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized (in shares)			1,000,000,000		1,000,000,000
Voting rights, number of votes for each share \| vote			1
Common stock, par value (in dollars per share) \| $ / shares			$ 0.001		$ 0.001
Stock repurchase program, authorized amount (up to) \| $		$ 100,000,000.0
Stock repurchase program, repurchase period		18 months
Repurchase and retirement of Class A common stock (in shares)	700,000
Repurchase and retirement of Class A common stock, value \| $	$ 15,000,000.0
Stock repurchase program, shares repurchased (in shares)			0
Stock repurchase program, remaining amount available for repurchase \| $			$ 85,000,000.0
Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized (in shares)			3,500,000		3,500,000
Voting rights, number of votes for each share \| vote			50
Common stock, par value (in dollars per share) \| $ / shares			$ 0.001		$ 0.001

Revenue

3 Months Ended

Jul. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of Revenue

The following table presents revenue by geographical region (in thousands):


	Three Months Ended July 31,
	2022		2021
North America (1)	$	51,938	$	36,452
Europe, the Middle East and Africa (1)	10,703		12,219
Asia Pacific (1)	2,367		3,735
Rest of World (1)	300		—
Total revenue	$	65,308	$	52,406

__________________

(1)The United States comprised 79% and 69% of the Company’s revenue for the three months ended July 31, 2022 and 2021, respectively. France comprised 13% of the Company’s revenue for the three months ended July 31, 2021. No other country comprised 10% or greater of the Company’s revenue for the three months ended July 31, 2022 or 2021.

Deferred Revenue

As of July 31, 2022 and April 30, 2022, the Company's deferred revenue balances were $43.7 million and $49.1 million, respectively. Revenue of $27.6 million and $38.3 million was recognized during the three months ended July 31, 2022 and 2021, respectively, that was included in the deferred revenue balances as of April 30, 2022 and 2021, respectively.

Remaining Performance Obligation

Remaining performance obligations are committed and represent non-cancellable contracted revenue that has not yet been recognized and will be recognized as revenue in future periods. Some contracts allow customers to cancel the contracts without a significant penalty, and the cancellable amount of contract value is not included in the remaining performance obligations.

The Company excludes amounts related to performance obligations and usage-based royalties that are billed and recognized as they are delivered or billed and recognized in the same period. This primarily consists of monthly usage-based runtime and hosting charges in the duration of some revenue contracts.

Revenue expected to be recognized from remaining performance obligations was approximately $458.2 million as of July 31, 2022, of which $173.5 million is expected to be recognized over the next 12 months and the remainder thereafter.

Customer Concentration and Accounts Receivable

All of the Company’s Customer-Entities consist of corporate and governmental entities. A limited number of Customer-Entities have accounted for a large part of the Company’s revenue and accounts receivable to date. For the purpose of determining customer concentration and accounts receivable, unbilled receivables have been excluded from accounts receivable balance. Two separate Customer-Entities accounted for 25% and 14%, respectively, of revenue for the three months ended July 31, 2022. Two separate Customer-Entities accounted for 23% and 13%, respectively, of revenue for the three months ended July 31, 2021. One Customer-Entity accounted for 14% of accounts receivable at July 31, 2022. Three separate Customer-Entities accounted for 32%, 13% and 12%, respectively, of accounts receivable at April 30, 2022. A Customer-Entity is defined as each entity that is the ultimate parent of a party contracting with the Company.

Accounts receivable includes billed and unbilled receivables, net of allowance of doubtful accounts. Trade accounts receivable are recorded at invoiced amounts and do not bear interest. The expectation of collectability is based on a review of credit profiles of customers, contractual terms and conditions, current economic trends, and historical payment experience. The Company regularly reviews the adequacy of the allowance for doubtful accounts by considering the age of each outstanding invoice and the collection history of each customer to determine the appropriate amount of allowance for doubtful accounts. Accounts receivable included unbilled receivables as of July 31, 2022 and April 30, 2022 of $39.3 million and $19.9 million, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (71,871)	$ (37,459)
Other comprehensive loss
Unrealized (loss) gain on available-for-sale marketable securities, net of tax	(200)	106
Total comprehensive loss	$ (72,071)	$ (37,353)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Investments - Available-for-Sale Marketable Securities (Details) - USD ($) $ in Thousands	Jul. 31, 2022	Apr. 30, 2022	Jul. 31, 2021
Cash equivalents:
Amortized Cost	$ 221,883	$ 339,528	$ 273,779
Debt Securities, Available-for-Sale [Abstract]
Total cash equivalents and available-for-sale marketable securities, Amortized Cost	899,373	916,988
Total cash equivalents and available-for-sale marketable securities, Gross Unrealized Gain	5	20
Total cash equivalents and available-for-sale marketable securities, Gross Unrealized Loss	(2,353)	(2,168)
Total cash equivalents and available-for-sale marketable securities	897,025	914,840
Money market funds
Cash equivalents:
Amortized Cost	112,208	107,726
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	112,208	107,726
U.S. treasury securities
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	12,795	12,764
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(6)	(1)
Estimated Fair Value	12,789	12,763
Certificates of deposit
Cash equivalents:
Amortized Cost	5,000	3,000
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Estimated Fair Value	5,000	3,000
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	95,054	97,205
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	95,054	97,205
U.S. government agencies securities
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	22,307	14,113
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(298)	(223)
Estimated Fair Value	22,009	13,890
Commercial paper
Cash equivalents:
Amortized Cost	61,756	142,511
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	61,756	142,511
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	280,168	241,134
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	(2)
Estimated Fair Value	280,168	241,132
Corporate debt securities
Cash equivalents:
Amortized Cost	1,779	8,889
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	(5)
Estimated Fair Value	1,779	8,884
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	308,306	289,646
Gross Unrealized Gains	5	20
Gross Unrealized Losses	(2,049)	(1,937)
Estimated Fair Value	$ 306,262	$ 287,729

Net Loss Per Share Attributable to Common Stockholders - Potential Shares Excluded From Computation of Diluted Net Loss Per Share (Details) - shares	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive shares excluded from computation of net loss per share (in shares)	36,169,293	39,433,289
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive shares excluded from computation of net loss per share (in shares)	17,607,113	3,897,893

Related Party Transactions

3 Months Ended

Jul. 31, 2022

Related Party Transactions

Revenue Transactions with Baker Hughes Company

In June 2019, the Company entered into multiple agreements with Baker Hughes Company (“Baker Hughes”) under which Baker Hughes received a three-year subscription to use the Company’s software. These agreements were revised in June 2020 to extend the term to five years and modify the subscription fees due. Under the agreements as revised in June 2020, Baker Hughes made minimum, non-cancelable revenue commitments, inclusive of their direct subscription fees and third-party revenue generated through a joint marketing arrangement with Baker Hughes, in the amount of $46.7 million in fiscal year 2020, $53.3 million in fiscal year 2021, $75.0 million in fiscal year 2022, $125.0 million in fiscal year 2023, and $150.0 million in fiscal year 2024. The Company also agreed to pay Baker Hughes a sales commission on subscriptions and services offerings it resold in excess of these minimum revenue commitments.

The Company and Baker Hughes further revised these agreements in October 2021 to extend the term by an additional year, for a total of six years, with an expiration date in the fiscal year ending April 30, 2025, to modify the amount of Baker Hughes’ annual commitments to $85.0 million in fiscal year 2023, $110.0 million in fiscal year 2024, and $125.0 million in fiscal year 2025, and to revise the structure of the arrangement to further incentivize Baker Hughes’ sales of the Company’s products and services.

A portion of the transaction price in the Company’s arrangement with Baker Hughes is variable. Beginning in the fiscal year ending April 30, 2023, Baker Hughes’ annual commitments will be reduced by any revenue the Company generates from certain customers. Known and estimable revenue from certain customers related to the arrangement is a form of variable consideration, which was determined at contract inception and reduces the revenue recognized from the arrangement. At the end of each reporting period, the Company reviews and updates the estimate as additional information becomes available.

Pursuant to the revised arrangement, the Company acknowledged that Baker Hughes had met its minimum annual revenue commitment for the fiscal year 2022 and recognized $16.0 million of sales commission as deferred costs during the fiscal quarter ended October 31, 2021 related to this arrangement, which will be amortized over an expected period of five years.

Revenue recognized under the arrangement were as follows (in thousands):


	Three Months Ended July 31,
	2022		2021
Direct subscription	$	16,330	$	10,208
Direct professional services	129		2,075
Total revenue from direct subscription and professional services	16,459		12,283
Total revenue from certain customers in Oil and Gas field related to the Baker Hughes arrangement	7,110		3,867
Total revenue related to the arrangement	$	23,569	$	16,150

As of July 31, 2022 and April 30, 2022, balances related to Baker Hughes that are reported within accounts receivable, net (inclusive of unbilled receivables of $33.1 million and $16.5 million, respectively) included $33.6 million and $35.8 million, respectively, and deferred revenue, current included $0.1 million and $0.1 million, respectively.

The Company recognized cost of subscription revenue related to services purchased from Baker Hughes of nil and $0.1 million during the three months ended July 31, 2022 and 2021, respectively. The Company recognized sales and marketing expenses related to Baker Hughes of $3.5 million and $0.1 million during the three months ended July 31, 2022 and 2021, respectively. As of July 31, 2022 and April 30, 2022, accounts payable included $4.7 million and $18.5 million, respectively.

The remaining performance obligations related to Baker Hughes, which includes both direct subscriptions and reseller arrangements, is comprised of (in thousands):


	As of July 31,
	2022		2021
Deferred revenue	$	2,051	$	25,146
Commitments from non-cancellable contracts	195,949		69,858
Total remaining performance obligations	$	198,000	$	95,004

As of July 31, 2022 and April 30, 2022, the current portion of deferred costs of $4.9 million and $4.9 million, respectively, were included in prepaid expenses and other current assets, and the non-current portion of $14.9 million and $16.1 million, respectively, were included in other assets, non-current. The Company amortized $1.2 million and $0.4 million of deferred commissions during the three months ended July 31, 2022 and 2021, respectively, and this amount was included in sales and marketing expense in the condensed consolidated statements of operations. The Company paid sales commission of $16.0 million and $3.4 million during the three months ended July 31, 2022 and 2021, respectively, related to this arrangement.

As of July 31, 2022 and April 30, 2022, accrued and other current liabilities included $2.4 million and $2.5 million, respectively, and other long-term liabilities included nil and $2.4 million, respectively.

Revenue - Deferred Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Jul. 31, 2022	Jul. 31, 2021	Apr. 30, 2022
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 43.7		$ 49.1
Revenue recognized	$ 27.6	$ 38.3

Balance Sheet Details - Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	Apr. 30, 2022
Property, Plant and Equipment [Line Items]
Property and equipment—gross	$ 49,411	$ 23,808
Less: accumulated depreciation and amortization	(10,483)	(9,291)
Property and equipment—net	38,928	14,517
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment—gross	$ 8,878	8,878
Computer equipment
Property, Plant and Equipment [Line Items]
Useful Life	36 months
Property and equipment—gross	$ 4,141	3,321
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Useful Life	60 months
Property and equipment—gross	$ 348	348
Capital in progress
Property, Plant and Equipment [Line Items]
Property and equipment—gross	$ 36,044	$ 11,261

Revenue (Tables)

3 Months Ended

Jul. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Revenue by Geographical Region

The following table presents revenue by geographical region (in thousands):


	Three Months Ended July 31,
	2022		2021
North America (1)	$	51,938	$	36,452
Europe, the Middle East and Africa (1)	10,703		12,219
Asia Pacific (1)	2,367		3,735
Rest of World (1)	300		—
Total revenue	$	65,308	$	52,406

__________________

Investments - Available-for-Sale Marketable Securities, Fair Value and Unrealized Losses Continuous Unrealized Loss Position (Details) $ in Thousands	Jul. 31, 2022 USD ($)
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	$ (2,247)
AFS, Less Than 12 Months, Fair Value	310,966
AFS, 12 Months or Greater, Unrealized Losses	(106)
AFS, 12 Months or Greater, Fair Value	20,171
AFS, Total Unrealized Losses	(2,353)
AFS, Total Fair Value	331,137
U.S. treasury securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	(6)
AFS, Less Than 12 Months, Fair Value	12,789
AFS, 12 Months or Greater, Unrealized Losses	0
AFS, 12 Months or Greater, Fair Value	0
AFS, Total Unrealized Losses	(6)
AFS, Total Fair Value	12,789
U.S. government agencies securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	(273)
AFS, Less Than 12 Months, Fair Value	18,443
AFS, 12 Months or Greater, Unrealized Losses	(25)
AFS, 12 Months or Greater, Fair Value	3,566
AFS, Total Unrealized Losses	(298)
AFS, Total Fair Value	22,009
Commercial paper
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	0
AFS, Less Than 12 Months, Fair Value	3,000
AFS, 12 Months or Greater, Unrealized Losses	0
AFS, 12 Months or Greater, Fair Value	0
AFS, Total Unrealized Losses	0
AFS, Total Fair Value	3,000
Corporate debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	(1,968)
AFS, Less Than 12 Months, Fair Value	276,734
AFS, 12 Months or Greater, Unrealized Losses	(81)
AFS, 12 Months or Greater, Fair Value	16,605
AFS, Total Unrealized Losses	(2,049)
AFS, Total Fair Value	$ 293,339

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2022	May 01, 2022	Apr. 30, 2022	Nov. 27, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrued stock-settled bonus	$ 10,163		$ 0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 138,600
Unrecognized compensation cost, weighted-average recognition period	3 years 1 month 6 days
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Unrecognized compensation cost, weighted-average recognition period	3 years 8 months 12 days
Unrecognized stock-based compensation expense	$ 428,100
RSUs \| Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentages	20.00%
Vesting period	1 year
RSUs \| Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentages	4.00%
2020 Incentive Plan \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period (in years)	10 years
2020 Incentive Plan \| Stock options \| Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentages	20.00%
Vesting period	1 year
2020 Incentive Plan \| Stock options \| Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentages	2.00%
Vesting period	4 years
2020 Employee Stock Purchase Plan \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of employee earnings participation (up to)				15.00%
Common Class A and Common Class B \| 2020 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Automatic increase to shares reserved for future issuance, percent of total shares outstanding as of April 30, 2022		5.00%
Common Class A and Common Class B \| 2020 Employee Stock Purchase Plan \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Automatic increase to shares reserved for future issuance, percent of total shares outstanding as of April 30, 2022		1.00%
Class A Common Stock \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Class A common stock issued (in shares)	811,790
Class A Common Stock \| 2020 Employee Stock Purchase Plan \| Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)				3,000,000

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

3 Months Ended

Jul. 31, 2022

Jul. 31, 2021

Cash flows from operating activities:

Net loss

$ (71,871)

$ (37,459)

Adjustments to reconcile net loss to net cash (used in) provided by operating activities

Depreciation and amortization

1,461

1,141

Non-cash operating lease cost

1,862

857

Stock-based compensation expense

56,630

13,912

Other

(875)

Changes in operating assets and liabilities

Accounts receivable

^[1]

(927)

10,383

Prepaid expenses, other current assets and other assets

^[2]

2,910

2,097

Accounts payable

^[3]

(21,318)

(2,067)

Accrued compensation and employee benefits

491

(7,072)

Operating lease liabilities

(991)

(932)

Other liabilities

^[4]

(1,106)

(3,633)

Deferred revenue

^[5]

(5,477)

24,670

Net cash (used in) provided by operating activities

(38,258)

1,022

Cash flows from investing activities:

Purchases of property and equipment

(15,536)

(511)

Capitalized software development costs

(1,000)

(500)

Purchases of investments

(226,367)

(95,948)

Maturities and sales of investments

162,429

248,986

Net cash (used in) provided by investing activities

(80,474)

152,027

Cash flows from financing activities:

Payment of deferred offering costs

(71)

Proceeds from exercise of Class A common stock options

1,087

5,046

Net cash provided by financing activities

1,087

4,975

Net (decrease) increase in cash, cash equivalents and restricted cash

(117,645)

158,024

Cash, cash equivalents and restricted cash at beginning of period

352,519

116,255

Cash and cash equivalents

221,883

273,779

Restricted cash included in other assets, non-current

12,566

500

Restricted cash included in prepaid expenses and other current assets

425

Cash, cash equivalents and restricted cash at end of period

234,874

274,279

Total cash, cash equivalents and restricted cash

234,874

274,279

Supplemental disclosure of cash flow information—cash paid for income taxes

235

Supplemental disclosures of non-cash investing and financing activities:

Purchases of property and equipment included in accounts payable and accrued liabilities

19,326

326

Unpaid liabilities related to intangible purchases

1,500

2,500

Deferred offering costs included in accounts payable and accrued liabilities

Vesting of early exercised stock options

$ 333

$ 1,059

[1]	Including changes in related party balances of $(2,240) and $(13,921) for the three months ended July 31, 2022 and 2021, respectively.
[2]	Including changes in related party balances of $(1,216) and $(415) for the three months ended July 31, 2022 and 2021, respectively.
[3]	Including changes in related party balances of $(13,861) and $56 for the three months ended July 31, 2022 and 2021, respectively.
[4]	Including changes in related party balances of $(2,536) and $(3,309) for the three months ended July 31, 2022 and 2021, respectively.
[5]	Including changes in related party balances of $(51) and $16,940 for the three months ended July 31, 2022 and 2021, respectively.

Revenue - Remaining Performance Obligation (Details) $ in Millions	Jul. 31, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations, amount	$ 458.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-08-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations, amount	$ 173.5
Revenue expected to be recognized from remaining performance obligations, period	12 months

Commitments and Contingencies (Details)		1 Months Ended			3 Months Ended
Commitments and Contingencies (Details)	Aug. 25, 2021 USD ($) ft² phase	Jul. 31, 2022 USD ($)	Feb. 29, 2020	Nov. 30, 2019 USD ($)	Jul. 31, 2022 USD ($)	Jul. 31, 2021 USD ($)	Apr. 30, 2022 USD ($)
Long-term Purchase Commitment [Line Items]
Lease, area under lease \| ft²	283,015
Lease, total undiscounted base rent payments over term of lease	$ 103,100,000
Lease, term of rent abatement per phase, following rent commencement date	6 months
Lease, monthly base rent	$ 500,000
Lessee, tenant improvement allowance	$ 44,200,000
Lease, term	126 months
Lease, period after date phase one delivered	9 months
Lease, number of phases \| phase	2
Operating lease, liability		$ 26,500,000			$ 26,500,000
Operating lease, right-of-use assets		26,500,000			26,500,000
Landlord \| Letter of Credit \| Line of Credit
Long-term Purchase Commitment [Line Items]
Letter of credit outstanding	$ 12,600,000
Maximum
Long-term Purchase Commitment [Line Items]
Lease, monthly base rent	$ 1,000,000
C3.ai DTI Grants Program
Long-term Purchase Commitment [Line Items]
Grants, payment period			5 years
Grants, potential remaining contributions		31,600,000			31,600,000		$ 31,600,000
Web-Hosting Services, November 2019-November 2022
Long-term Purchase Commitment [Line Items]
Purchase commitment				$ 30,000,000
Purchase commitment, term				3 years
Purchase commitment, incurred cost					4,100,000	$ 3,200,000
Web-Hosting Services, November 2020
Long-term Purchase Commitment [Line Items]
Purchase commitment				$ 10,000,000
Web-Hosting Services, November 2021
Long-term Purchase Commitment [Line Items]
Purchase commitment				10,000,000
Web-Hosting Services, November 2022
Long-term Purchase Commitment [Line Items]
Purchase commitment				$ 10,000,000
Cloud Services, July 2022-July 2025
Long-term Purchase Commitment [Line Items]
Purchase commitment		$ 100,000,000
Purchase commitment, term		3 years
Purchase commitment, incurred cost					$ 0

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands

3 Months Ended

Jul. 31, 2022

Jul. 31, 2021

Revenue

Total revenue

$ 65,308

$ 52,406

Cost of revenue

Total cost of revenue

18,406

13,025

Gross profit

46,902

39,381

Operating expenses

Sales and marketing

^[1]

42,987

36,822

Research and development

55,877

26,712

General and administrative

21,247

12,364

Total operating expenses

120,111

75,898

Loss from operations

(73,209)

(36,517)

Interest income

2,538

345

Other (expense) income, net

(1,021)

(899)

Net loss before provision for income taxes

(71,692)

(37,071)

Provision for income taxes

179

388

Net loss

$ (71,871)

$ (37,459)

Net loss per share attributable to Class A and Class B common shareholders, basic (in dollars per share)

$ (0.67)

$ (0.37)

Net loss per share attributable to Class A and Class B common shareholders, diluted (in dollars per share)

$ (0.67)

$ (0.37)

Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic (in shares)

106,842,000

102,155,000

Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, diluted (in shares)

106,842,000

102,155,000

Subscription

Revenue

Total revenue

^[2]

$ 57,026

$ 46,122

Cost of revenue

Total cost of revenue

^[3]

14,092

9,213

Professional services

Revenue

Total revenue

^[4]

8,282

6,284

Cost of revenue

Total cost of revenue

$ 4,314

$ 3,812

[1]	Including related party sales and marketing expense of $3,500 and $61 for the three months ended July 31, 2022 and 2021, respectively.
[2]	Including related party revenue of $16,330 and $10,208 for the three months ended July 31, 2022 and 2021, respectively.
[3]	Including related party cost of revenue of nil and $117 for the three months ended July 31, 2022 and 2021, respectively.
[4]	Including related party revenue of $129 and $2,074 for the three months ended July 31, 2022 and 2021, respectively.

Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jul. 31, 2022	Apr. 30, 2022
Available-for-sale marketable securities:
Total cash equivalents and available-for-sale marketable securities	$ 897,025	$ 914,840
Money market funds
Cash equivalents:
Estimated Fair Value	112,208	107,726
Certificates of deposit
Cash equivalents:
Estimated Fair Value	5,000	3,000
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	95,054	97,205
U.S. treasury securities
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	12,789	12,763
U.S. government agencies securities
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	22,009	13,890
Commercial paper
Cash equivalents:
Estimated Fair Value	61,756	142,511
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	280,168	241,132
Corporate debt securities
Cash equivalents:
Estimated Fair Value	1,779	8,884
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	306,262	287,729
Fair Value, Recurring
Available-for-sale marketable securities:
Total cash equivalents and available-for-sale marketable securities	897,025	914,840
Fair Value, Recurring \| Money market funds
Cash equivalents:
Estimated Fair Value	112,208	107,726
Fair Value, Recurring \| Certificates of deposit
Cash equivalents:
Estimated Fair Value	5,000	3,000
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	95,054	97,205
Fair Value, Recurring \| U.S. treasury securities
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	12,789	12,763
Fair Value, Recurring \| U.S. government agencies securities
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	22,009	13,890
Fair Value, Recurring \| Commercial paper
Cash equivalents:
Estimated Fair Value	61,756	142,511
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	280,168	241,132
Fair Value, Recurring \| Corporate debt securities
Cash equivalents:
Estimated Fair Value	1,779	8,884
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	306,262	287,729
Fair Value, Recurring \| Level 1
Available-for-sale marketable securities:
Total cash equivalents and available-for-sale marketable securities	112,208	107,726
Fair Value, Recurring \| Level 1 \| Money market funds
Cash equivalents:
Estimated Fair Value	112,208	107,726
Fair Value, Recurring \| Level 1 \| Certificates of deposit
Cash equivalents:
Estimated Fair Value	0	0
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	0	0
Fair Value, Recurring \| Level 1 \| U.S. treasury securities
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	0	0
Fair Value, Recurring \| Level 1 \| U.S. government agencies securities
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	0	0
Fair Value, Recurring \| Level 1 \| Commercial paper
Cash equivalents:
Estimated Fair Value	0	0
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	0	0
Fair Value, Recurring \| Level 1 \| Corporate debt securities
Cash equivalents:
Estimated Fair Value	0	0
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	0	0
Fair Value, Recurring \| Level 2
Available-for-sale marketable securities:
Total cash equivalents and available-for-sale marketable securities	784,817	807,114
Fair Value, Recurring \| Level 2 \| Money market funds
Cash equivalents:
Estimated Fair Value	0	0
Fair Value, Recurring \| Level 2 \| Certificates of deposit
Cash equivalents:
Estimated Fair Value	5,000	3,000
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	95,054	97,205
Fair Value, Recurring \| Level 2 \| U.S. treasury securities
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	12,789	12,763
Fair Value, Recurring \| Level 2 \| U.S. government agencies securities
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	22,009	13,890
Fair Value, Recurring \| Level 2 \| Commercial paper
Cash equivalents:
Estimated Fair Value	61,756	142,511
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	280,168	241,132
Fair Value, Recurring \| Level 2 \| Corporate debt securities
Cash equivalents:
Estimated Fair Value	1,779	8,884
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	306,262	287,729
Fair Value, Recurring \| Level 3
Available-for-sale marketable securities:
Total cash equivalents and available-for-sale marketable securities	0	0
Fair Value, Recurring \| Level 3 \| Money market funds
Cash equivalents:
Estimated Fair Value	0	0
Fair Value, Recurring \| Level 3 \| Certificates of deposit
Cash equivalents:
Estimated Fair Value	0	0
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	0	0
Fair Value, Recurring \| Level 3 \| U.S. treasury securities
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	0	0
Fair Value, Recurring \| Level 3 \| U.S. government agencies securities
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	0	0
Fair Value, Recurring \| Level 3 \| Commercial paper
Cash equivalents:
Estimated Fair Value	0	0
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	0	0
Fair Value, Recurring \| Level 3 \| Corporate debt securities
Cash equivalents:
Estimated Fair Value	0	0
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	$ 0	$ 0