0001628280-24-007744 | 10-Q | XBRL Viewer

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Net Loss Per Share Attributable to Common Stockholders - Potential Shares Excluded From Computation of Diluted Net Loss Per Share (Details) - shares shares in Thousands	9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
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)	32,103	35,774
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)	20,908	19,919
ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially antidilutive shares excluded from computation of net loss per share (in shares)	1,102	0

Revenue

9 Months Ended

Jan. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of Revenue

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


	Three Months Ended January 31,				Nine Months Ended January 31,
	2024		2023		2024		2023
North America (1)	$	68,356	$	55,254	$	191,247	$	155,108
Europe, the Middle East and Africa (1)	9,040		9,546		29,205		32,138
Asia Pacific (1)	952		1,801		2,877		6,603
Rest of World (1)	53		68		663		536
Total revenue	$	78,401	$	66,669	$	223,992	$	194,385

__________________

(1)The United States comprised 86% and 83% of the Company’s revenue for the three months ended January 31, 2024 and 2023, respectively, and 85% and 80% of the Company’s revenue for the nine months ended January 31, 2024 and 2023, respectively. No other country comprised 10% or greater of the Company’s revenue for the three and nine months ended January 31, 2024 or 2023.

Deferred Revenue

As of January 31, 2024 and April 30, 2023, the Company’s deferred revenue balances were $41.3 million and $47.9 million, respectively. Revenue of $46.3 million and $45.6 million was recognized during the nine months ended January 31, 2024 and 2023, respectively, that was included in the deferred revenue balances as of April 30, 2023 and 2022, 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 $286.9 million as of January 31, 2024, of which $172.0 million is expected to be recognized over the next 12 months and the remainder thereafter.

Customer Concentration and Accounts Receivable

A majority of the Company’s Customer-Entities consist of corporate and governmental entities. A Customer-Entity is defined as each entity that is the ultimate parent of a party contracting with the Company. 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 the accounts receivable balance. Two separate Customer-Entities accounted for 25% and 12%, respectively, of revenue for the three months ended January 31, 2024. One Customer-Entity accounted for 45% of revenue for the three months ended January 31, 2023. Two separate Customer-Entities accounted for 27% and 13%, respectively, of revenue for the nine months ended January 31, 2024. One Customer-Entity accounted for 34% of revenue for the nine months ended January 31, 2023. Two separate Customer-Entities accounted for 18% and 14%, respectively, of accounts receivable at January 31, 2024. Two separate Customer-Entities accounted for 20% and 18%, respectively, of accounts receivable at April 30, 2023.

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 allowance for credit losses is based on the Company’s assessment of the collectability of accounts receivable by considering various factors, including the age of each outstanding invoice, customer type, the collection history of each customer, historical write-off experience, current and near-term macroeconomic conditions and uncertainties. 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. Accounts receivable included unbilled receivables as of January 31, 2024 and April 30, 2023 of $102.6 million and $77.6 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//606/tableOfContent

+ Details

Stock-Based Compensation - Restricted Stock Unit Activity (Details) - RSUs shares in Thousands	9 Months Ended
	Jan. 31, 2024 $ / shares shares
Number of RSUs
Unvested Balance at beginning of period (in shares) \| shares	21,146
RSUs granted (in shares) \| shares	7,974
RSUs vested (in shares) \| shares	(5,004)
RSUs forfeited (in shares) \| shares	(3,208)
Unvested Balance at end of period (in shares) \| shares	20,908
Weighted Average Grant Date Fair Value Per Share
Unvested Balance at beginning of period (in dollars per share) \| $ / shares	$ 21.32
RSUs granted (in dollars per share) \| $ / shares	33.67
RSUs vested (in dollars per share) \| $ / shares	25.27
RSUs forfeited (in dollars per share) \| $ / shares	25.72
Unvested Balance at end of period (in dollars per share) \| $ / shares	$ 24.83

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 489	$ 143	$ 863	$ 485

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Revenue (Tables)

9 Months Ended

Jan. 31, 2024

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 January 31,				Nine Months Ended January 31,
	2024		2023		2024		2023
North America (1)	$	68,356	$	55,254	$	191,247	$	155,108
Europe, the Middle East and Africa (1)	9,040		9,546		29,205		32,138
Asia Pacific (1)	952		1,801		2,877		6,603
Rest of World (1)	53		68		663		536
Total revenue	$	78,401	$	66,669	$	223,992	$	194,385

__________________

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

Jan. 31, 2024

Apr. 30, 2023

Current assets

Cash and cash equivalents

$ 114,561

$ 284,829

Marketable securities

608,761

446,155

Accounts receivable, net of allowance of $359 and $359 as of January 31, 2024 and April 30, 2023, respectively

^[1]

173,478

134,586

Prepaid expenses and other current assets

^[2]

29,227

23,309

Total current assets

926,027

888,879

Property and equipment, net

91,003

84,578

Goodwill

625

Long-term marketable securities

81,418

Other assets, non-current

^[3]

46,334

47,528

Total assets

1,063,989

1,103,028

Current liabilities

Accounts payable

^[4]

19,845

24,610

Accrued compensation and employee benefits

37,822

46,513

Deferred revenue, current

^[5]

39,121

47,846

Accrued and other current liabilities

^[6]

12,391

17,070

Total current liabilities

109,179

136,039

Deferred revenue, non-current

2,183

Other long-term liabilities

54,632

37,320

Total liabilities

165,994

173,363

Commitments and contingencies (note 6)

Stockholders’ equity

Additional paid-in capital

1,914,450

1,740,174

Accumulated other comprehensive income (loss)

430

(385)

Accumulated deficit

(1,017,006)

(810,237)

Total stockholders’ equity

897,995

929,665

Total liabilities and stockholders’ equity

1,063,989

1,103,028

Class A Common Stock

Stockholders’ equity

Common stock

118

110

Class B Common Stock

Stockholders’ equity

Common stock

$ 3

[1]	Including amounts from a related party of $74,620 as of April 30, 2023.
[2]	Including amounts from a related party of $4,983 as of April 30, 2023.
[3]	Including amounts from a related party of $11,279 as of April 30, 2023.
[4]	Including amounts due to a related party of $2,200 as of April 30, 2023.
[5]	Including amounts from a related party of $249 as of April 30, 2023.
[6]	Including amounts due to a related party of $2,448 as of April 30, 2023.

Balance Sheet Details - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation expense	$ 2.9	$ 0.5	$ 8.5	$ 2.4

Cash Equivalents and Marketable Securities - Available-for Sale Debt Securities by Contractual Maturity (Details) - Debt Securities, Available-For-Sale, Excluding Money Market Accounts - USD ($) $ in Thousands	Jan. 31, 2024	Apr. 30, 2023
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract]
AFS Debt Maturities, Within one year, Amortized Cost	$ 518,581	$ 446,629
AFS Debt Maturities, After one year through five years, Amortized Cost	89,750	81,329
Amortized Cost	608,331	527,958
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]
AFS Debt Maturities, Within one year, Fair Value	518,683	446,155
AFS Debt Maturities, After one year through five years, Fair Value	90,078	81,418
AFS Debt Maturities, Total Fair Value	$ 608,761	$ 527,573

Stock-Based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 54,983	$ 55,831	$ 159,032	$ 168,474
Cost of revenue \| Subscription
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	8,674	5,996	25,244	15,754
Cost of revenue \| Professional services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	309	361	1,248	1,911
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	17,528	18,316	52,533	54,175
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	18,757	23,646	52,475	72,768
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 9,715	$ 7,512	$ 27,532	$ 23,866

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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-Topic 718
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-Name Accounting Standards Codification
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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	RSUs	Common Stock	Common Stock RSUs	Additional Paid-In Capital	Additional Paid-In Capital RSUs	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
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)			747
Issuance of Class A common stock upon exercise of stock options, net of repurchases	2,387		$ 1		2,386
Vesting of early exercised Class A common stock options	842				842
Shares withheld related to net share settlement of equity awards (in shares)			(336)
Shares withheld related to net share settlement of equity awards	(4,815)				(4,815)
Vesting of restricted stock units (in shares)				5,373
Vesting of restricted stock units		$ 23,928		$ 5		$ 23,923
Stock-based compensation expense	138,321				138,321
Other comprehensive income	1,113						1,113
Net loss	(203,883)							(203,883)
Ending Balance, shares (in shares) at Jan. 31, 2023			112,009
Ending Balance, Amount at Jan. 31, 2023	947,370		$ 112		1,693,574		(1,035)	(745,281)
Beginning Balance, shares (in shares) at Oct. 31, 2022			110,101
Beginning Balance, Amount at Oct. 31, 2022	953,166		$ 110		1,637,980		(2,805)	(682,119)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options, net of repurchases (in shares)			180
Issuance of Class A common stock upon exercise of stock options, net of repurchases	590				590
Vesting of early exercised Class A common stock options	286				286
Shares withheld related to net share settlement of equity awards (in shares)			(115)
Shares withheld related to net share settlement of equity awards	(1,440)				(1,440)
Vesting of restricted stock units (in shares)				1,843
Vesting of restricted stock units		10,255		$ 2		10,253
Stock-based compensation expense	45,905				45,905
Other comprehensive income	1,770						1,770
Net loss	(63,162)							(63,162)
Ending Balance, shares (in shares) at Jan. 31, 2023			112,009
Ending Balance, Amount at Jan. 31, 2023	947,370		$ 112		1,693,574		(1,035)	(745,281)
Beginning Balance, shares (in shares) at Apr. 30, 2023			113,943
Beginning Balance, Amount at Apr. 30, 2023	$ 929,665		$ 113		1,740,174		(385)	(810,237)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options, net of repurchases (in shares)	2,535		2,534
Issuance of Class A common stock upon exercise of stock options, net of repurchases	$ 11,319		$ 2		11,317
Vesting of early exercised Class A common stock options	406				406
Shares withheld related to net share settlement of equity awards (in shares)			(283)
Shares withheld related to net share settlement of equity awards	(10,485)				(10,485)
Vesting of restricted stock units (in shares)				5,004
Vesting of restricted stock units		34,475		$ 5		34,470
Issuance of Class A common stock under employee stock purchase plan (in shares)			429
Issuance of Class A common stock under employee stock purchase plan	5,055		$ 1		5,054
Stock-based compensation expense	133,514				133,514
Other comprehensive income	815						815
Net loss	(206,769)							(206,769)
Ending Balance, shares (in shares) at Jan. 31, 2024			121,627
Ending Balance, Amount at Jan. 31, 2024	897,995		$ 121		1,914,450		430	(1,017,006)
Beginning Balance, shares (in shares) at Oct. 31, 2023			119,653
Beginning Balance, Amount at Oct. 31, 2023	911,276		$ 119		1,856,307		(775)	(944,375)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A common stock upon exercise of stock options, net of repurchases (in shares)			283
Issuance of Class A common stock upon exercise of stock options, net of repurchases	1,209				1,209
Vesting of early exercised Class A common stock options	112				112
Shares withheld related to net share settlement of equity awards (in shares)			(30)
Shares withheld related to net share settlement of equity awards	(720)				(720)
Vesting of restricted stock units (in shares)				1,721
Vesting of restricted stock units		$ 13,006		$ 2		$ 13,004
Stock-based compensation expense	44,538				44,538
Other comprehensive income	1,205						1,205
Net loss	(72,631)							(72,631)
Ending Balance, shares (in shares) at Jan. 31, 2024			121,627
Ending Balance, Amount at Jan. 31, 2024	$ 897,995		$ 121		$ 1,914,450		$ 430	$ (1,017,006)

Stock-Based Compensation - Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Jan. 31, 2024 USD ($) $ / shares shares	Apr. 30, 2023 USD ($) $ / shares shares
Number of Stock Options Outstanding
Balance at beginning of period (in shares) \| shares	34,696
Options granted (in shares) \| shares	829
Options exercised (in shares) \| shares	(2,535)
Options cancelled (in shares) \| shares	(953)
Balance at end of period (in shares) \| shares	32,037	34,696
Vested and exercisable at end of period (in shares) \| shares	23,395
Vested and expected to vest at end of period (in shares) \| shares	32,103
Weighted Average Exercise Price
Balance at beginning of period (in dollars per share) \| $ / shares	$ 12.75
Options granted (in dollars per share) \| $ / shares	30.11
Options exercised (in dollars per share) \| $ / shares	34.48
Options cancelled (in dollars per share) \| $ / shares	10.74
Balance at end of period (in dollars per share) \| $ / shares	13.91	$ 12.75
Vested and exercisable at end of period (in dollars per share) \| $ / shares	10.30
Vested and expected to vest at end of period (in dollars per share) \| $ / shares	$ 13.91
Weighted Average Remaining Contractual Life (years)
Balance at beginning of period	5 years 10 months 24 days	6 years 5 months 12 days
Balance at end of period	5 years 10 months 24 days	6 years 5 months 12 days
Vested and exercisable at end of period	5 years 5 months 1 day
Vested and expected to vest at end of period	5 years 10 months 24 days
Aggregate Intrinsic Value
Balance at beginning of period \| $	$ 348,241	$ 175,907
Balance at end of period \| $	348,241	$ 175,907
Vested and exercisable at end of period \| $	338,766
Vested and expected to vest at end of period \| $	$ 348,956

Cash Equivalents and Marketable Securities (Tables)

9 Months Ended

Jan. 31, 2024

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 January 31, 2024								As of April 30, 2023
	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	$	78,747	$	—	$	—	$	78,747	$	75,293	$	—	$	—	$	75,293

Certificates of deposit	3,500		—		—		3,500		2,000		—		—		2,000
Commercial paper	8,925		—		—		8,925		112,851		—		—		112,851
Corporate debt securities	1,893		—		—		1,893		—		—		—		—
Available-for-sale marketable securities:
U.S. treasury securities	7,454		1		—		7,455		27,445		1		(49)		27,397
Certificates of deposit	65,514		—		—		65,514		61,025		—		—		61,025
U.S. government agencies securities	57,629		147		(13)		57,763		75,650		111		(87)		75,674
Commercial paper	161,222		—		—		161,222		184,230		—		—		184,230
Corporate debt securities	316,512		450		(155)		316,807		179,608		115		(476)		179,247
Total cash equivalents and available-for-sale marketable securities	$	701,396	$	598	$	(168)	$	701,826	$	718,102	$	227	$	(612)	$	717,717

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 January 31, 2024				As of April 30, 2023
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Within one year	$	518,581	$	518,683	$	446,629	$	446,155
After one year through five years	89,750		90,078		81,329		81,418
Total	$	608,331	$	608,761	$	527,958	$	527,573

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 January 31, 2024 (in thousands):


	As of January 31, 2024
	Less Than 12 Months				12 Months or Greater				Total
	Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value


U.S. government agencies securities	$	(9)	$	17,968	$	(4)	$	2,362	$	(13)	$	20,330
Commercial paper	—		5,953		—		—		—		5,953
Corporate debt securities	(133)		120,053		(22)		10,710		(155)		130,763
Total	$	(142)	$	143,974	$	(26)	$	13,072	$	(168)	$	157,046

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

9 Months Ended

Jan. 31, 2024

Jan. 31, 2023

Cash flows from operating activities:

Net loss

$ (206,769)

$ (203,883)

Adjustments to reconcile net loss to net cash used in operating activities

Depreciation and amortization

9,469

3,257

Non-cash operating lease cost

656

5,820

Stock-based compensation expense

159,032

168,474

Accretion of discounts on marketable securities

(13,238)

(1,990)

Other

110

211

Changes in operating assets and liabilities

Accounts receivable

^[1]

(38,892)

(63,609)

Prepaid expenses, other current assets and other assets

^[2]

(3,379)

(7,745)

Accounts payable

^[3]

(4,945)

(26,250)

Accrued compensation and employee benefits

171

1,069

Operating lease liabilities

14,330

(3,296)

Other liabilities

^[4]

6,296

(4,606)

Deferred revenue

^[5]

(6,546)

(10,197)

Net cash used in operating activities

(83,705)

(142,745)

Cash flows from investing activities:

Purchases of property and equipment

(22,718)

(59,767)

Capitalized software development costs

(2,750)

(1,000)

Purchases of marketable securities

(657,431)

(497,288)

Maturities and sales of marketable securities

590,299

674,440

Net cash (used in) provided by investing activities

(92,600)

116,385

Cash flows from financing activities:

Proceeds from issuance of Class A common stock under employee stock purchase plan

5,055

Proceeds from exercise of Class A common stock options

11,379

2,364

(10,397)

(4,815)

Net cash provided by (used in) financing activities

6,037

(2,451)

Net decrease in cash, cash equivalents and restricted cash

(170,268)

(28,811)

Cash, cash equivalents and restricted cash at beginning of period

297,395

352,519

Cash and cash equivalents

114,561

311,142

Restricted cash included in other assets, non-current

12,566

Cash, cash equivalents and restricted cash at end of period

127,127

323,708

Total cash, cash equivalents and restricted cash

127,127

323,708

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

760

219

Supplemental disclosures of non-cash investing and financing activities:

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

2,475

12,618

Right-of-use assets obtained in exchange for lease obligations (including remeasurement of right-of-use assets and lease liabilities due to changes in the timing of receipt of lease incentives)

1,858

2,033

Unpaid liabilities related to intangible purchases

1,500

Vesting of early exercised stock options

$ 406

$ 842

[1]	Including changes in related party balances of $12,444 and $46,295 for the nine months ended January 31, 2024 and 2023, respectively.
[2]	Including changes in related party balances of $(810) and $(3,525) for the nine months ended January 31, 2024 and 2023, respectively.
[3]	Including changes in related party balances of $248 and $(18,549) for the nine months ended January 31, 2024 and 2023, respectively.
[4]	Including changes in related party balances of $(2,448) and $(2,510) for the nine months ended January 31, 2024 and 2023, respectively.
[5]	Including changes in related party balances of $(46) and $186 for the nine months ended January 31, 2024 and 2023, respectively.

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

3 Months Ended

9 Months Ended

Jan. 31, 2024

Jan. 31, 2023

Jan. 31, 2024

Jan. 31, 2023

Revenue

Total revenue

$ 78,401

$ 66,669

$ 223,992

$ 194,385

Cost of revenue

Total cost of revenue

33,114

22,271

97,043

61,429

Gross profit

45,287

44,398

126,949

132,956

Operating expenses

Sales and marketing

^[1]

57,140

43,497

150,920

131,420

Research and development

49,480

55,051

150,747

160,979

General and administrative

21,213

17,888

61,317

57,770

Total operating expenses

127,833

116,436

362,984

350,169

Loss from operations

(82,546)

(72,038)

(236,035)

(217,213)

Interest income

9,995

6,987

30,597

13,749

Other income (expense), net

409

2,032

(468)

Loss before provision for income taxes

(72,142)

(63,019)

(205,906)

(203,398)

Provision for income taxes

489

143

863

485

Net loss

$ (72,631)

$ (63,162)

$ (206,769)

$ (203,883)

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

$ (0.60)

$ (0.57)

$ (1.75)

$ (1.87)

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

$ (0.60)

$ (0.57)

$ (1.75)

$ (1.87)

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

120,486

110,735

118,259

108,869

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

120,486

110,735

118,259

108,869

Subscription

Revenue

Total revenue

^[2]

$ 70,400

$ 57,043

$ 198,201

$ 173,577

Cost of revenue

Total cost of revenue

32,273

21,294

93,644

54,551

Professional services

Revenue

Total revenue

^[3]

8,001

9,626

25,791

20,808

Cost of revenue

Total cost of revenue

$ 841

$ 977

$ 3,399

$ 6,878

[1]	Including related party sales and marketing expense of $810 and $10,546 for the nine months ended January 31, 2024 and 2023, respectively, and $3,515 for the three months ended January 31, 2023.
[2]	Including related party revenue of $10,581 and $55,884 for the nine months ended January 31, 2024 and 2023, respectively, and $20,316 for the three months ended January 31, 2023.
[3]	Including related party revenue of $5,804 and $8,749 for the nine months ended January 31, 2024 and 2023, respectively, and $8,599 for the three months ended January 31, 2023.

Stock-Based Compensation (Tables)

9 Months Ended

Jan. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

A summary of the Company’s option activity during the nine months ended January 31, 2024 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, 2023	34,696	$	12.75	6.45	$	175,907
Options granted	829	30.11
Options exercised	(2,535)	34.48
Options cancelled	(953)	10.74
Balance as of January 31, 2024	32,037	$	13.91	5.90	$	348,241
Vested and exercisable as of January 31, 2024	23,395	$	10.30	5.42	$	338,766
Vested and expected to vest as of January 31, 2024(1)	32,103	$	13.91	5.90	$	348,956

__________________

(1) The number of options vested and expected to vest as of January 31, 2024 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:


	Nine Months Ended January 31,
	2024		2023
Valuation assumptions:
Expected dividend yield	—	%	—	%
Expected volatility	63.5	%	46.2	%
Expected term (years)	6.0		6.5
Risk-free interest rate	3.9	%	3.8	%

Schedule of Restricted Stock Unit Activity

A summary of the Company’s RSU activity during the nine months ended January 31, 2024 is as follows:


	RSUs Outstanding
	Number of RSUs	Weighted Average Grant Date Fair Value Per Share
	(in thousands)
Unvested Balance as of April 30, 2023	21,146	$	21.32
RSUs granted	7,974	33.67
RSUs vested	(5,004)	25.27
RSUs forfeited	(3,208)	25.72
Unvested Balance as of January 31, 2024	20,908	$	24.83

Schedule of Valuation Assumptions, ESPP

The following assumptions were used to calculate the fair value of shares to be granted under the 2020 ESPP during the period:


	Nine Months Ended January 31,
	2024		2023
Valuation assumptions:
Expected dividend yield	—	%	—	%
Expected volatility	64.0 - 70.1%		47.8 - 61.4%
Expected term (years)	0.5 - 2.0		0.4 - 1.9
Risk-free interest rate	5.0 - 5.5%		4.3 - 4.5%

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 January 31,				Nine Months Ended January 31,
	2024		2023		2024		2023
Cost of subscription	$	8,674	$	5,996	$	25,244	$	15,754
Cost of professional services	309		361		1,248		1,911
Sales and marketing	17,528		18,316		52,533		54,175
Research and development	18,757		23,646		52,475		72,768
General and administrative	9,715		7,512		27,532		23,866
Total stock-based compensation expense	$	54,983	$	55,831	$	159,032	$	168,474

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

9 Months Ended

Jan. 31, 2024

Jan. 31, 2023

^[1]

$ 3,379

$ 7,745

^[2]

6,296

(4,606)

12,444

46,295

(810)

(3,525)

248

(18,549)

(2,448)

(2,510)

$ (46)

$ 186

[1]	Including changes in related party balances of $(810) and $(3,525) for the nine months ended January 31, 2024 and 2023, respectively.
[2]	Including changes in related party balances of $(2,448) and $(2,510) for the nine months ended January 31, 2024 and 2023, respectively.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Jan. 31, 2024
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 cloud services provider in July 2022. Under the arrangement, the Company committed to spend an aggregate of at least $100.0 million for a period of three years beginning July 2022, on services with this vendor. The Company has incurred costs totaling $7.7 million and $2.3 million during the three months ended January 31, 2024 and 2023, respectively, and $23.5 million and $3.9 million during the nine months ended January 31, 2024 and 2023, respectively, under the arrangement. The Company entered into a non-cancellable arrangement with a professional services provider in October 2023. Under the arrangement, the Company committed to purchase an aggregate of $15.0 million of professional services for a period of 18 months beginning October 2023. The Company has incurred costs totaling $0.2 million and $0.2 million during the three and nine months ended January 31, 2024, respectively, under the arrangement. The Company entered into a non-cancellable arrangement with a professional services provider in January 2024. Under the arrangement, the Company committed to purchase an aggregate of $13.0 million of professional services for a period of one year beginning January 2024. The Company has incurred costs totaling $0.7 million and $1.2 million during the three and nine months ended January 31, 2024, respectively, under the arrangement. 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 January 31, 2024 and April 30, 2023, 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. 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 lease commencement date of the third phase was determined to have occurred in the quarter ended October 31, 2022, when the landlord delivered the leased space to the Company. During the quarter ended July 31, 2023, there was a remeasurement of right-of-use assets and lease liabilities related to the third phase of the lease due to changes in the timing of receipt of lease incentives. As a result, the lease liability was reduced to $2.0 million and corresponding right-of-use asset was reduced to $1.7 million. The lease commencement date of the fourth phase was determined to have occurred in the quarter ended April 30, 2023, when the landlord delivered the leased space to the Company. The lease commencement date of the fifth phase was determined to have occurred in the quarter ended July 31, 2023, when the landlord delivered the leased space to the Company. The Company recorded $1.6 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 related to the fifth phase of the lease. During the quarter ended January 31, 2024, there was a remeasurement of right-of-use assets and lease liabilities related to phases one to five of the lease due to changes in the timing of receipt of lease incentives. As a result, the lease liability for these phases was reduced to $47.4 million and corresponding right-of-use asset for these phases was reduced to $17.2 million. The lease commencement date of the sixth phase was determined to have occurred in the quarter ended January 31, 2024, when the landlord delivered the leased space to the Company. The Company recorded $1.7 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 related to the sixth phase of the lease. The lease commencement date of the seventh phase will be determined when the landlord delivers the applicable leased space to the Company. Legal Proceedings 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. On December 12, 2022, the court appointed a lead plaintiff and lead counsel. On February 15, 2023, the lead plaintiff and three additional named plaintiffs filed an amended complaint. The amended complaint names as defendants the Company, four current and former officers and directors, the underwriters in the Company’s initial public offering (“IPO”), and Baker Hughes Company (“Baker Hughes”). The amended complaint generally alleges that the defendants made material misstatements or omissions about the Company’s partnership with Baker Hughes and the Company’s own salesforce. The amended complaint alleges that defendants made these misstatements or omissions in connection with the Company’s IPO in violation of Sections 11 and 15 of the Securities Act of 1933 and between December 9, 2020 and December 2, 2021, inclusive, in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The amended complaint further alleges that certain defendants engaged in insider trading in violation of Section 20A of the Securities Exchange Act of 1934. Plaintiffs seek unspecified damages, interest, fees and costs. All defendants moved to dismiss Plaintiffs’ amended complaint on May 1, 2023. On June 30, 2023, Plaintiffs voluntarily dismissed the underwriter defendants. On February 22, 2024, the Court granted the motion to dismiss on all claims except for portions of the alleged violations of Section 11 and Section 15. Plaintiffs have until March 14, 2024 to amend their complaint. Three putative shareholder derivative actions have been filed: (1) Suri v. Siebel et al. (22-cv-03031) filed on May 23, 2022 in the U.S. District Court for the Northern District of California; (2) Rabasca v. Siebel et al. (23-cv-1566) filed on April 3, 2023 in the U.S. District Court for the Northern District of California; and (3) Vo v. Siebel et al. (23-cv-428) filed on April 19, 2023 in the U.S. District Court for the District of Delaware. In these cases, the plaintiffs assert claims on the Company’s behalf against certain of the Company’s current and former officers and directors for breach of fiduciary duty, aiding and abetting breach of fiduciary duty, gross mismanagement, corporate waste, abuse of control, unjust enrichment, and violations of the Securities Exchange Act of 1934 based on allegations similar to those in the securities class action. In all three cases, the Company is named as a nominal defendant. The derivative complaints seek unspecified damages, disgorgement of profits from board member stock sales, an award of costs and expenses, including reasonable attorneys’ fees, and corporate governance reforms. On September 7, 2022, Suri was stayed pending resolution of the Reckstin case. On August 3, 2023, Vo was transferred to the U.S. District Court for the Northern District of California (3:23-cv-03895), and on August 30, 2023 the Vo action was stayed on the same terms as the Suri action. On December 4, 2023, the parties in Rabasca filed a stipulation to consolidate the Rabasca action with the Suri action, and to stay the Rabasca action on the same terms as the Suri action. The Company has not yet been required to answer the Complaints in Suri, Rabasca and Vo. 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. A reasonable estimate of the amount of any possible loss or range of loss cannot be made at this time. 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.

Net Loss Per Share Attributable to Common Stockholders (Tables)

9 Months Ended

Jan. 31, 2024

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 January 31,				Nine Months Ended January 31,
	2024		2023		2024		2023
Numerator
Net loss attributable to common stockholders	$	(72,631)	$	(63,162)	$	(206,769)	$	(203,883)
Denominator
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted	120,486		110,735		118,259		108,869
Basic and diluted net loss per share attributable to common stockholders
Basic and diluted net loss per Class A and Class B common shares	$	(0.60)	$	(0.57)	$	(1.75)	$	(1.87)

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

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 (in thousands):


	As of January 31,
	2024	2023
Stock options	32,103	35,774
RSUs	20,908	19,919
ESPP	1,102	—

Cash Equivalents and Marketable Securities - Available-for-Sale Marketable Securities (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Apr. 30, 2023	Jan. 31, 2023
Cash equivalents:
Amortized Cost	$ 114,561	$ 284,829	$ 311,142
Debt Securities, Available-for-Sale [Abstract]
Total cash equivalents and available-for-sale marketable securities, Amortized Cost	701,396	718,102
Total cash equivalents and available-for-sale marketable securities, Gross Unrealized Gain	598	227
Total cash equivalents and available-for-sale marketable securities, Gross Unrealized Loss	(168)	(612)
Total cash equivalents and available-for-sale marketable securities	701,826	717,717
Money market funds
Cash equivalents:
Amortized Cost	78,747	75,293
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	78,747	75,293
Certificates of deposit
Cash equivalents:
Amortized Cost	3,500	2,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	3,500	2,000
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	65,514	61,025
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	65,514	61,025
Commercial paper
Cash equivalents:
Amortized Cost	8,925	112,851
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	8,925	112,851
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	161,222	184,230
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	161,222	184,230
Corporate debt securities
Cash equivalents:
Amortized Cost	1,893	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	1,893	0
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	316,512	179,608
Gross Unrealized Gains	450	115
Gross Unrealized Losses	(155)	(476)
Estimated Fair Value	316,807	179,247
U.S. treasury securities
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	7,454	27,445
Gross Unrealized Gains	1	1
Gross Unrealized Losses	0	(49)
Estimated Fair Value	7,455	27,397
U.S. government agencies securities
Debt Securities, Available-for-Sale [Abstract]
Amortized Cost	57,629	75,650
Gross Unrealized Gains	147	111
Gross Unrealized Losses	(13)	(87)
Estimated Fair Value	$ 57,763	$ 75,674

Income Taxes	9 Months Ended
Income Taxes	Jan. 31, 2024
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 $0.5 million and $0.1 million for the three months ended January 31, 2024 and 2023, respectively, and $0.9 million and $0.5 million for the nine months ended January 31, 2024 and 2023, 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.

- 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
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 21
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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-Paragraph 17
-Subparagraph (b)
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (SAB Topic 11.C)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Balance Sheet Details (Tables)

9 Months Ended

Jan. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Property and Equipment, Net

Property and equipment consisted of the following at January 31, 2024 and April 30, 2023 (in thousands):


	Useful Life	As of January 31,		As of April 30,
	(in months)	2024		2023
Leasehold improvements	*	$	71,703	$	66,522
Computer equipment	36	5,620		4,901
Office furniture and equipment	60	14,494		14,343
Capital in progress	NA	12,042		3,140
Property and equipment, gross		103,859		88,906
Less: accumulated depreciation and amortization		(12,856)		(4,328)
Property and equipment, net		$	91,003	$	84,578

__________________

*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 January 31, 2024 and April 30, 2023 (in thousands):


	As of January 31,		As of April 30,
	2024		2023
Accrued stock-settled bonus	$	21,522	$	32,414
Accrued bonus	296		186
Accrued vacation	3,948		4,602
Accrued payroll taxes and benefits	3,166		3,975
Accrued commissions	3,181		2,889
Accrued salaries	414		206
ESPP contributions	4,383		1,339
Other	912		902
Accrued compensation and employee benefits	$	37,822	$	46,513

Schedule of Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following at January 31, 2024 and April 30, 2023 (in thousands):


	As of January 31,		As of April 30,
	2024		2023
Liability for common stock exercised prior to vesting	$	385	$	799
Accrued general expenses	3,131		5,541
Operating lease liabilities, current	2,936		2,339
Accrued professional services	2,286		2,889
Commissions payable to a related party	—		2,448
Other	3,653		3,054
Accrued and other current liabilities	$	12,391	$	17,070

Summary of Business and Significant Accounting Policies (Policies)	9 Months Ended
	Jan. 31, 2024
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, 2023, which was filed with the SEC on June 22, 2023. 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 January 31, 2024 and the results of operations for the three and nine months ended January 31, 2024. The results of operations for the three and nine months ended January 31, 2024 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 the Company 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, but are not limited to, 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, the incremental borrowing rate for operating leases, 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 Year The Company’s fiscal year ends on April 30.
Recently Issued Accounting Standards Not Yet Adopted	Recently Issued Accounting Standards Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”) to improve the disclosures regarding a public entity’s reportable segments and address requests from investors for additional, more detailed information about a reportable segment’s expenses. The Company is required to adopt the guidance in the fourth quarter of fiscal 2025, though early adoption is permitted. The Company is currently evaluating the impact of this amendment on its Consolidated Financial Statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures (“ASU 2023-09”) to provide disaggregated income tax disclosures on rate reconciliation and income taxes paid. The Company is required to adopt the guidance in the fourth quarter of fiscal 2026, though early adoption is permitted. The Company is currently evaluating the impact of this amendment on its Consolidated Financial Statements.

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Jan. 31, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Preferred Stock The Company has authorized 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 January 31, 2024, there were no shares of Preferred Stock issued or outstanding. Common Stock The Company has authorized 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 shares of common stock 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. There have been no net proceeds from the early exercise of such options during the three and nine months ended January 31, 2024 and 2023. The liability is reclassified into equity on a ratable basis as the stock options vest. Unvested Class A common stock of 65,730 and 148,239 shares as of January 31, 2024 and April 30, 2023, 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. The Company had not repurchased any shares of its Class A common stock under this program during the fiscal year 2024. The stock repurchase program expired in June 2023.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 14
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Balance Sheet Details - Accrued Compensation and Employee Benefits (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Apr. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued stock-settled bonus	$ 21,522	$ 32,414
Accrued bonus	296	186
Accrued vacation	3,948	4,602
Accrued payroll taxes and benefits	3,166	3,975
Accrued commissions	3,181	2,889
Accrued salaries	414	206
ESPP contributions	4,383	1,339
Other	912	902
Accrued compensation and employee benefits	$ 37,822	$ 46,513

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (72,631)	$ (63,162)	$ (206,769)	$ (203,883)
Other comprehensive income
Unrealized gain on available-for-sale marketable securities, net of tax	1,205	1,770	815	1,113
Comprehensive loss	$ (71,426)	$ (61,392)	$ (205,954)	$ (202,770)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

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

3 Months Ended

9 Months Ended

Jan. 31, 2024

Jan. 31, 2023

Jan. 31, 2024

Jan. 31, 2023

Related party revenue

$ 78,401

$ 66,669

$ 223,992

$ 194,385

Related party sales and marketing

^[1]

57,140

43,497

150,920

131,420

Related Party

Related party sales and marketing

3,515

810

10,546

Subscription

Related party revenue

^[2]

70,400

57,043

198,201

173,577

Subscription | Related Party

Related party revenue

20,316

10,581

55,884

Professional services

Related party revenue

^[3]

$ 8,001

9,626

25,791

20,808

Professional services | Related Party

Related party revenue

$ 8,599

$ 5,804

$ 8,749

[1]	Including related party sales and marketing expense of $810 and $10,546 for the nine months ended January 31, 2024 and 2023, respectively, and $3,515 for the three months ended January 31, 2023.
[2]	Including related party revenue of $10,581 and $55,884 for the nine months ended January 31, 2024 and 2023, respectively, and $20,316 for the three months ended January 31, 2023.
[3]	Including related party revenue of $5,804 and $8,749 for the nine months ended January 31, 2024 and 2023, respectively, and $8,599 for the three months ended January 31, 2023.

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Related Party Transactions - Narrative (Details)

1 Months Ended

3 Months Ended

9 Months Ended

Feb. 21, 2023

USD ($)

ft²

Oct. 31, 2021

USD ($)

Jun. 30, 2020

USD ($)

Jun. 30, 2019

Jan. 31, 2024

USD ($)

Jan. 31, 2023

USD ($)

Jan. 31, 2024

USD ($)

Jan. 31, 2023

USD ($)

Aug. 25, 2021

ft²

office_tower

Total revenue

$ 78,401,000

$ 66,669,000

$ 223,992,000

$ 194,385,000

Sales and marketing expenses

^[1]

57,140,000

43,497,000

150,920,000

131,420,000

Subleased space area (in square feet) | ft²

3,130

283,013

Number of office towers | office_tower

Automatic renewal term (in years)

1 year

Monthly base rent

$ 8,608

Subscription

Total revenue

^[2]

70,400,000

57,043,000

198,201,000

173,577,000

Professional services

Total revenue

^[3]

$ 8,001,000

9,626,000

25,791,000

20,808,000

Sales and marketing expenses

3,515,000

810,000

10,546,000

Related Party | Subscription

Total revenue

20,316,000

10,581,000

55,884,000

Related Party | Professional services

Total revenue

8,599,000

5,804,000

8,749,000

Revenue commitment, term

6 years

5 years

3 years

Revenue commitment, fiscal year 2020

$ 46,700,000

Revenue commitment, fiscal year 2021

53,300,000

Revenue commitment, fiscal year 2022

75,000,000

Revenue commitment, fiscal year 2023

$ 85,000,000

125,000,000

Revenue commitment, fiscal year 2024

110,000,000

$ 150,000,000

Revenue commitment, fiscal year 2025

125,000,000

Sales commissions, recognized as deferred costs

$ 16,000,000

Deferred costs, sales commissions, amortization period

5 years

Sales and marketing expenses

3,500,000

800,000

10,500,000

Deferred costs, sales commissions, amortization

1,200,000

800,000

3,600,000

Sales commissions paid

16,000,000

Total revenue

20,300,000

10,600,000

55,900,000

Total revenue

$ 8,600,000

$ 5,800,000

$ 8,700,000

[1]	Including related party sales and marketing expense of $810 and $10,546 for the nine months ended January 31, 2024 and 2023, respectively, and $3,515 for the three months ended January 31, 2023.
[2]	Including related party revenue of $10,581 and $55,884 for the nine months ended January 31, 2024 and 2023, respectively, and $20,316 for the three months ended January 31, 2023.
[3]	Including related party revenue of $5,804 and $8,749 for the nine months ended January 31, 2024 and 2023, respectively, and $8,599 for the three months ended January 31, 2023.

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

Jan. 31, 2024

Apr. 30, 2023

Accounts receivable, allowance

$ 359

Accounts receivable, net, from related party

^[1]

173,478

134,586

Prepaid expenses and other current assets, from related party

^[2]

29,227

23,309

Other assets, non-current, due from related party

^[3]

46,334

47,528

Accounts payable, from related party

^[4]

19,845

24,610

Deferred revenue, current, from related party

^[5]

39,121

47,846

Accrued and other current liabilities, from related party

^[6]

$ 12,391

17,070

74,620

Prepaid expenses and other current assets, from related party

4,983

Other assets, non-current, due from related party

11,279

Accounts payable, from related party

2,200

Deferred revenue, current, from related party

249

Accrued and other current liabilities, from related party

$ 2,448

[1]	Including amounts from a related party of $74,620 as of April 30, 2023.
[2]	Including amounts from a related party of $4,983 as of April 30, 2023.
[3]	Including amounts from a related party of $11,279 as of April 30, 2023.
[4]	Including amounts due to a related party of $2,200 as of April 30, 2023.
[5]	Including amounts from a related party of $249 as of April 30, 2023.
[6]	Including amounts due to a related party of $2,448 as of April 30, 2023.

Cash Equivalents and Marketable Securities

9 Months Ended

Jan. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Cash Equivalents and Marketable Securities

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


	As of January 31, 2024								As of April 30, 2023
	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	$	78,747	$	—	$	—	$	78,747	$	75,293	$	—	$	—	$	75,293

Certificates of deposit	3,500		—		—		3,500		2,000		—		—		2,000
Commercial paper	8,925		—		—		8,925		112,851		—		—		112,851
Corporate debt securities	1,893		—		—		1,893		—		—		—		—
Available-for-sale marketable securities:
U.S. treasury securities	7,454		1		—		7,455		27,445		1		(49)		27,397
Certificates of deposit	65,514		—		—		65,514		61,025		—		—		61,025
U.S. government agencies securities	57,629		147		(13)		57,763		75,650		111		(87)		75,674
Commercial paper	161,222		—		—		161,222		184,230		—		—		184,230
Corporate debt securities	316,512		450		(155)		316,807		179,608		115		(476)		179,247
Total cash equivalents and available-for-sale marketable securities	$	701,396	$	598	$	(168)	$	701,826	$	718,102	$	227	$	(612)	$	717,717

The Company considers all of its marketable securities as available for use in current operations, including those with maturity dates beyond one year, and therefore classifies these securities within current assets on the Condensed Consolidated Balance Sheet as of January 31, 2024.

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


	As of January 31, 2024				As of April 30, 2023
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Within one year	$	518,581	$	518,683	$	446,629	$	446,155
After one year through five years	89,750		90,078		81,329		81,418
Total	$	608,331	$	608,761	$	527,958	$	527,573


	As of January 31, 2024
	Less Than 12 Months				12 Months or Greater				Total
	Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value


U.S. government agencies securities	$	(9)	$	17,968	$	(4)	$	2,362	$	(13)	$	20,330
Commercial paper	—		5,953		—		—		—		5,953
Corporate debt securities	(133)		120,053		(22)		10,710		(155)		130,763
Total	$	(142)	$	143,974	$	(26)	$	13,072	$	(168)	$	157,046

As of January 31, 2024, the Company had 130 marketable securities in an unrealized loss position. As of April 30, 2023, the Company had 119 marketable securities 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 marketable securities until maturity, there were no other-than-temporary impairments for these marketable securities at January 31, 2024.

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Pay vs Performance Disclosure
Net loss	$ (72,631)	$ (63,162)	$ (206,769)	$ (203,883)

- Definition

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

+ References

+ Details

Cover - shares	9 Months Ended
Cover - shares	Jan. 31, 2024	Feb. 22, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 31, 2024
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	1400 Seaport Blvd
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	2024
Document Fiscal Period Focus	Q3
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		118,548,799
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		3,499,992

Commitments and Contingencies (Details) $ in Millions		1 Months Ended				3 Months Ended			9 Months Ended		11 Months Ended
Commitments and Contingencies (Details) $ in Millions	Feb. 15, 2023 plaintiff officer_and_director	Jan. 31, 2024 USD ($) phase	Oct. 31, 2023 USD ($)	Jul. 31, 2022 USD ($)	Feb. 29, 2020	Jan. 31, 2024 USD ($) phase	Jul. 31, 2023 USD ($)	Jan. 31, 2023 USD ($)	Jan. 31, 2024 USD ($) phase	Jan. 31, 2023 USD ($)	Apr. 19, 2023 claim	Apr. 30, 2023 USD ($) phase	Oct. 31, 2022 phase	Jan. 31, 2022 phase	Aug. 25, 2021 ft²
Long-term Purchase Commitment [Line Items]
Lease, area under lease \| ft²															283,015
Lease, number of phases \| phase		5				5			5			4	3	2
Operating lease, liability		$ 47.4				$ 47.4	$ 2.0		$ 47.4
Operating lease, right-of-use assets		17.2				17.2	1.7		17.2
Decrease in right-of-use asset						1.7	1.6
Decrease in lease liability						1.7	$ 1.6
The Reckstin Family Trust v. C3.ai, Inc. \| Settled Litigation
Long-term Purchase Commitment [Line Items]
Number of additional plaintiffs \| plaintiff	3
Number of current and former officers and directors \| officer_and_director	4
Suri V. Siebel Et Al., Rabasca V. Siebel Et Al. And Vo V. Siebel Et Al \| Pending Litigation
Long-term Purchase Commitment [Line Items]
Number of actions filed \| claim											3
C3.ai DTI Grants Program
Long-term Purchase Commitment [Line Items]
Grants, payment period					5 years
Grants, potential remaining contributions		31.6				31.6			31.6			$ 31.6
Cloud Services, July 2022-July 2025
Long-term Purchase Commitment [Line Items]
Purchase commitment, at least				$ 100.0
Purchase commitment, term				3 years
Purchase commitment, incurred cost						7.7		$ 2.3	23.5	$ 3.9
Professional Services, October 2023-April 2025
Long-term Purchase Commitment [Line Items]
Purchase commitment, at least			$ 15.0
Purchase commitment, term			18 months
Purchase commitment, incurred cost						0.2			0.2
Professional Services, January 2024-January 2025
Long-term Purchase Commitment [Line Items]
Purchase commitment, at least		$ 13.0
Purchase commitment, incurred cost						$ 0.7			$ 1.2

Revenue - Disaggregated Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 78,401	$ 66,669	$ 223,992	$ 194,385
North America
Disaggregation of Revenue [Line Items]
Total revenue	$ 68,356	$ 55,254	$ 191,247	$ 155,108
United States \| Revenue \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Geographic concentration risk, percentage	86.00%	83.00%	85.00%	80.00%
Europe, the Middle East and Africa
Disaggregation of Revenue [Line Items]
Total revenue	$ 9,040	$ 9,546	$ 29,205	$ 32,138
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	952	1,801	2,877	6,603
Rest of World
Disaggregation of Revenue [Line Items]
Total revenue	$ 53	$ 68	$ 663	$ 536

Balance Sheet Details - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Apr. 30, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 103,859	$ 88,906
Less: accumulated depreciation and amortization	(12,856)	(4,328)
Property and equipment, net	91,003	84,578
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 71,703	66,522
Computer equipment
Property, Plant and Equipment [Line Items]
Useful Life	36 months
Property and equipment, gross	$ 5,620	4,901
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Useful Life	60 months
Property and equipment, gross	$ 14,494	14,343
Capital in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 12,042	$ 3,140

Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Nov. 27, 2020 USD ($) period shares	Jan. 31, 2024 USD ($) $ / shares	Jan. 31, 2023 USD ($)	Jan. 31, 2024 USD ($) $ / shares shares	Jan. 31, 2023 USD ($) shares	Oct. 04, 2023	May 01, 2023	Apr. 30, 2023 USD ($)	Jul. 31, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense		$ 54,983	$ 55,831	$ 159,032	$ 168,474
Risk-free interest rate				3.90%	3.80%
Expected dividend yield				0.00%	0.00%
Expected volatility				63.50%	46.20%
Accrued stock-settled bonus		21,522		$ 21,522				$ 32,414
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost		90,800		$ 90,800
Unrecognized compensation cost, weighted-average recognition period				2 years 6 months
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 10 months 24 days
Unrecognized stock-based compensation expense		$ 469,300		$ 469,300
Granted, non-option (in shares) \| shares				7,974,000
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				5.00%
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum shares authorized (in shares) \| shares									1,700,000
Total stock-based compensation expense				$ 4,100
Stock price (in dollars per share) \| $ / shares		$ 12.90		$ 12.90
Risk-free interest rate				3.70%
Expected dividend yield				0.00%
Expected volatility				51.40%
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 \| ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense				$ 4,300	$ 2,000
Expected dividend yield				0.00%	0.00%
Unrecognized stock-based compensation expense		$ 3,100		$ 3,100
Percentage of employee earnings participation (up to)	15.00%
Initial offering period (in months)	24 months
Number of purchase periods \| period	4
Purchase period (in months)	6 months
Annual Bonus Program And Retention Bonus Program \| RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense				$ 25,500
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						7.00%	5.00%
Common Class A and Common Class B \| 2020 Employee Stock Purchase Plan \| ESPP
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 \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, non-option (in shares) \| shares				532,842	811,790
Class A Common Stock \| 2020 Employee Stock Purchase Plan \| ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares) \| shares	3,000,000
Shares purchased (in shares) \| shares	2,500
Shares purchased	$ 25
Fair market value (as a percent)	85.00%

Stock-Based Compensation - Valuation Assumptions (Details)	9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%
Expected volatility	63.50%	46.20%
Expected term (years)	6 years	6 years 6 months
Risk-free interest rate	3.90%	3.80%
2020 Employee Stock Purchase Plan \| ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%
Expected volatility, minimum	64.00%	47.80%
Expected volatility, maximum	70.10%	61.40%
Risk-free interest rate, maximum	5.50%	4.50%
Risk-free interest rate, minimum	5.00%	4.30%
2020 Employee Stock Purchase Plan \| ESPP \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	6 months	4 months 24 days
2020 Employee Stock Purchase Plan \| ESPP \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	2 years	1 year 10 months 24 days

Stock-Based Compensation

9 Months Ended

Jan. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

On 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, non-statutory stock options, stock appreciation rights, restricted stock awards, restricted stock unit (“RSU”) awards, performance awards and other equity awards.

On August 15, 2023 and August 21, 2023, respectively, the Company’s compensation committee and our board of directors adopted, and on October 4, 2023, its stockholders approved, the amendment of the 2020 Incentive Plan to increase the maximum number of shares of Class A common stock that may be automatically added to the share reserve of the 2020 Incentive Plan on May 1 of each year from May 1, 2024 until (and including) May 1, 2030 pursuant to the “evergreen” provision of the 2020 Incentive Plan from five percent (5%) to seven percent (7%) of the total number of shares of the Company’s Class A common stock and Class B common stock outstanding on April 30 of the immediately preceding fiscal year. Prior to the adoption and approval of such amendment, there was an automatic annual increase on May 1, 2023 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 as of April 30, 2023.

Stock Options

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 nine months ended January 31, 2024 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, 2023	34,696	$	12.75	6.45	$	175,907
Options granted	829	30.11
Options exercised	(2,535)	34.48
Options cancelled	(953)	10.74
Balance as of January 31, 2024	32,037	$	13.91	5.90	$	348,241
Vested and exercisable as of January 31, 2024	23,395	$	10.30	5.42	$	338,766
Vested and expected to vest as of January 31, 2024(1)	32,103	$	13.91	5.90	$	348,956

__________________

(1) The number of options vested and expected to vest as of January 31, 2024 includes early exercised, unvested Class A common stock. Refer to Note 7. Stockholders’ Equity for more information.

As of January 31, 2024, there was $90.8 million of unrecognized compensation cost related to stock options which is expected to be recognized over an estimated weighted-average period of 2.5 years.

The grant-date fair value of the options issued for the nine months ended January 31, 2024 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:


	Nine Months Ended January 31,
	2024		2023
Valuation assumptions:
Expected dividend yield	—	%	—	%
Expected volatility	63.5	%	46.2	%
Expected term (years)	6.0		6.5
Risk-free interest rate	3.9	%	3.8	%

Restricted Stock Units

The Company’s RSUs include time-based RSUs and performance-based RSUs with market conditions (“PRSUs”).

Time-based RSUs

The time-based 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-twentieth of the award vesting quarterly thereafter. The related stock-based compensation is recognized on a straight-line basis over the requisite service period.

PRSUs

In July 2022, the compensation committee of the board of directors (the “Compensation Committee”) approved the grant of a maximum of 1,700,000 performance-based restricted stock units (the “PRSU Award”) to the CEO pursuant to the 2020 Incentive Plan, subject to and conditioned upon the subsequent determination by the board of directors of performance metrics upon the achievement of which the PRSU Award would vest. In August 2022, the board of directors approved performance metrics in concept, subject to further action by the Compensation Committee. In December 2022, the Compensation Committee: (a) determined and approved the performance metrics, which are based on the achievement of certain total shareholder return results, as measured against certain stock price hurdles (the “Market Condition”); and (b) extended the vesting period of the PRSU Award through December 31, 2027. As an additional condition to vesting of each tranche of the PRSU Award, Mr. Siebel must remain in continuous service to the Company through a minimum service date that applies to such tranche or, if later, the date the applicable performance metric is achieved (the “Service Condition”). The grant date of the PRSU Award was established in December 2022.

Stock-based compensation expense associated with the PRSU Award will be recognized over the longer of the expected achievement period for the Market Condition or the Service Condition. For the nine months ended January 31, 2024, the Company recorded stock-based compensation expense of $4.1 million related to the PRSU Award.

The Company determined the grant date fair value of the PRSU Award using a Monte Carlo simulation model with the following assumptions: stock price of $12.90, risk-free interest rate of 3.7%, dividend yield of 0% and expected volatility of 51.4%.

A summary of the Company’s RSU activity during the nine months ended January 31, 2024 is as follows:


	RSUs Outstanding
	Number of RSUs	Weighted Average Grant Date Fair Value Per Share
	(in thousands)
Unvested Balance as of April 30, 2023	21,146	$	21.32
RSUs granted	7,974	33.67
RSUs vested	(5,004)	25.27
RSUs forfeited	(3,208)	25.72
Unvested Balance as of January 31, 2024	20,908	$	24.83

As of January 31, 2024, there was $469.3 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 3.9 years.

In June 2023 and 2022, the Compensation Committee approved the payment of fiscal year 2023 and 2022 bonuses, respectively, under the Company’s annual bonus program in the form of fully vested RSUs covering shares of Class A common stock to employees. The Company issued 532,842 and 811,790 shares of Class A common stock pursuant to this program in the nine months ended January 31, 2024 and 2023, respectively.

Shares issued in settlement of fully vested RSUs granted under this bonus program were issued from the 2020 Incentive Plan and reduced the shares available for issuance under the 2020 Incentive Plan.

Employee Stock Purchase Plan

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, 2023 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, 2023. 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.

Except for the initial offering period under the 2020 ESPP, which commenced on October 16, 2022 and ends on September 15, 2024, the 2020 ESPP provides for 24-month offering periods beginning September 15 and March 15 of each year, with each offering period consisting of four six-month purchase periods. The 2020 ESPP allows eligible employees to purchase shares of the Company’s Class A common stock, subject to purchase limits of 2,500 shares during each six-month period or $25,000 worth of stock for each calendar year, through payroll deductions at price per share equal to 85% of the lesser of the fair market value of the Company’s Class A common stock on (i) the first trading day of the applicable offering period and (ii) the last trading day of each purchase period in the applicable offering period. If the price per share of the Company’s Class A common stock on any purchase date in the offering period is lower than the price per share of the Company’s Class A common stock price on the enrollment date of that offering period, the offering period will immediately reset after the purchase of shares on such purchase date and automatically roll into a new 24-month offering period.

The Company uses a Black-Scholes-Merton option pricing model to determine the fair value of employee stock purchase rights granted under the 2020 ESPP.

The following assumptions were used to calculate the fair value of shares to be granted under the 2020 ESPP during the period:


	Nine Months Ended January 31,
	2024		2023
Valuation assumptions:
Expected dividend yield	—	%	—	%
Expected volatility	64.0 - 70.1%		47.8 - 61.4%
Expected term (years)	0.5 - 2.0		0.4 - 1.9
Risk-free interest rate	5.0 - 5.5%		4.3 - 4.5%

During the nine months ended January 31, 2024 and 2023, the Company recognized $4.3 million and $2.0 million, respectively, of stock-based compensation expense related to 2020 ESPP. As of January 31, 2024, there was $3.1 million of unrecognized stock-based compensation expense that is expected to be recognized over the remaining term of the respective offering periods.

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 January 31,				Nine Months Ended January 31,
	2024		2023		2024		2023
Cost of subscription	$	8,674	$	5,996	$	25,244	$	15,754
Cost of professional services	309		361		1,248		1,911
Sales and marketing	17,528		18,316		52,533		54,175
Research and development	18,757		23,646		52,475		72,768
General and administrative	9,715		7,512		27,532		23,866
Total stock-based compensation expense	$	54,983	$	55,831	$	159,032	$	168,474

The Company records stock-based compensation associated with the Company’s annual bonus program and retention bonus program for certain employees, which may be paid out in fully vested RSUs that are settled in shares of Class A common stock. During the nine months ended January 31, 2024, the Company recognized $25.5 million of stock-based compensation expense associated with these programs. As of January 31, 2024, $21.5 million was reflected under accrued compensation and employee benefits in the consolidated balance sheets. Upon settlement, this amount will be reflected under common stock and additional paid-in capital in the condensed consolidated statements of stockholders’ equity.

Revenue - Deferred Revenue (Details) - USD ($) $ in Millions	9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Apr. 30, 2023
Revenue from Contract with Customer [Abstract]
Contract with customer, liability	$ 41.3		$ 47.9
Revenue recognized	$ 46.3	$ 45.6

Balance Sheet Details

9 Months Ended

Jan. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Details

Property and Equipment, Net

Property and equipment consisted of the following at January 31, 2024 and April 30, 2023 (in thousands):


	Useful Life	As of January 31,		As of April 30,
	(in months)	2024		2023
Leasehold improvements	*	$	71,703	$	66,522
Computer equipment	36	5,620		4,901
Office furniture and equipment	60	14,494		14,343
Capital in progress	NA	12,042		3,140
Property and equipment, gross		103,859		88,906
Less: accumulated depreciation and amortization		(12,856)		(4,328)
Property and equipment, net		$	91,003	$	84,578

__________________

*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 leased space that is not considered available for use and has not yet been placed into service.

Depreciation and amortization expense related to property and equipment was $2.9 million and $0.5 million for the three months ended January 31, 2024 and 2023, respectively, and $8.5 million and $2.4 million for the nine months ended January 31, 2024 and 2023, respectively.

Accrued Compensation and Employee Benefits

Accrued compensation and employee benefits consisted of the following at January 31, 2024 and April 30, 2023 (in thousands):


	As of January 31,		As of April 30,
	2024		2023
Accrued stock-settled bonus	$	21,522	$	32,414
Accrued bonus	296		186
Accrued vacation	3,948		4,602
Accrued payroll taxes and benefits	3,166		3,975
Accrued commissions	3,181		2,889
Accrued salaries	414		206
ESPP contributions	4,383		1,339
Other	912		902
Accrued compensation and employee benefits	$	37,822	$	46,513

Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following at January 31, 2024 and April 30, 2023 (in thousands):


	As of January 31,		As of April 30,
	2024		2023
Liability for common stock exercised prior to vesting	$	385	$	799
Accrued general expenses	3,131		5,541
Operating lease liabilities, current	2,936		2,339
Accrued professional services	2,286		2,889
Commissions payable to a related party	—		2,448
Other	3,653		3,054
Accrued and other current liabilities	$	12,391	$	17,070

Fair Value Measurements (Tables)

9 Months Ended

Jan. 31, 2024

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 January 31, 2024								As of April 30, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	78,747	$	—	$	—	$	78,747	$	75,293	$	—	$	—	$	75,293

Certificates of deposit	—		3,500		—		3,500		—		2,000		—		2,000
Commercial paper	—		8,925		—		8,925		—		112,851		—		112,851
Corporate debt securities	—		1,893		—		1,893		—		—		—		—
Available-for-sale marketable securities:
U.S. treasury securities	—		7,455		—		7,455		—		27,397		—		27,397
Certificates of deposit	—		65,514		—		65,514		—		61,025		—		61,025
U.S. government agencies securities	—		57,763		—		57,763		—		75,674		—		75,674
Commercial paper	—		161,222		—		161,222		—		184,230		—		184,230
Corporate debt securities	—		316,807		—		316,807		—		179,247		—		179,247
Total cash equivalents and available-for-sale marketable securities	$	78,747	$	623,079	$	—	$	701,826	$	75,293	$	642,424	$	—	$	717,717

Cash Equivalents and Marketable Securities - Available-for-Sale Marketable Securities, Fair Value and Unrealized Losses Continuous Unrealized Loss Position (Details) $ in Thousands	Jan. 31, 2024 USD ($)
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	$ (142)
AFS, Less Than 12 Months, Fair Value	143,974
AFS, 12 Months or Greater, Unrealized Losses	(26)
AFS, 12 Months or Greater, Fair Value	13,072
AFS, Total Unrealized Losses	(168)
AFS, Total Fair Value	157,046
U.S. government agencies securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	(9)
AFS, Less Than 12 Months, Fair Value	17,968
AFS, 12 Months or Greater, Unrealized Losses	(4)
AFS, 12 Months or Greater, Fair Value	2,362
AFS, Total Unrealized Losses	(13)
AFS, Total Fair Value	20,330
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	5,953
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	5,953
Corporate debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position [Line Items]
AFS, Less Than 12 Months, Unrealized Losses	(133)
AFS, Less Than 12 Months, Fair Value	120,053
AFS, 12 Months or Greater, Unrealized Losses	(22)
AFS, 12 Months or Greater, Fair Value	10,710
AFS, Total Unrealized Losses	(155)
AFS, Total Fair Value	$ 130,763

Stockholders' Equity (Details)	1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
Stockholders' Equity (Details)	Mar. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($)	Jan. 31, 2024 USD ($) vote $ / shares shares	Jan. 31, 2023 USD ($)	Jan. 31, 2024 USD ($) vote $ / shares shares	Jan. 31, 2023 USD ($)	Apr. 30, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, shares authorized (in shares)			200,000,000		200,000,000
Preferred stock, par value (in dollars per share) \| $ / shares			$ 0.001		$ 0.001
Preferred stock, shares issued (in shares)			0		0
Preferred stock, shares outstanding (in shares)			0		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	$ 0	$ 0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares subject to repurchase right (in shares)					65,730		148,239
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		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
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		50
Common stock, par value (in dollars per share) \| $ / shares			$ 0.001		$ 0.001

Cash Equivalents and Marketable Securities - Narrative (Details)	9 Months Ended
	Jan. 31, 2024 USD ($) marketable_security	Apr. 30, 2023 marketable_security
Investments, Debt and Equity Securities [Abstract]
Number of marketable securities in unrealized loss position \| marketable_security	130	119
Other-than-temporary impairment loss \| $	$ 0

Fair Value Measurements

9 Months Ended

Jan. 31, 2024

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 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 January 31, 2024								As of April 30, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	78,747	$	—	$	—	$	78,747	$	75,293	$	—	$	—	$	75,293

Certificates of deposit	—		3,500		—		3,500		—		2,000		—		2,000
Commercial paper	—		8,925		—		8,925		—		112,851		—		112,851
Corporate debt securities	—		1,893		—		1,893		—		—		—		—
Available-for-sale marketable securities:
U.S. treasury securities	—		7,455		—		7,455		—		27,397		—		27,397
Certificates of deposit	—		65,514		—		65,514		—		61,025		—		61,025
U.S. government agencies securities	—		57,763		—		57,763		—		75,674		—		75,674
Commercial paper	—		161,222		—		161,222		—		184,230		—		184,230
Corporate debt securities	—		316,807		—		316,807		—		179,247		—		179,247
Total cash equivalents and available-for-sale marketable securities	$	78,747	$	623,079	$	—	$	701,826	$	75,293	$	642,424	$	—	$	717,717

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

Related Party Transactions	9 Months Ended
Related Party Transactions	Jan. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Revenue Transactions with Baker Hughes Company In June 2019, the Company entered into multiple agreements with Baker Hughes under which Baker Hughes received a three-year subscription to use the Company’s software. This arrangement was 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-cancellable 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 the minimum revenue commitments. The Company and Baker Hughes again revised this arrangement 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 simplify the sales process for Baker Hughes. Beginning in the fiscal year ended April 30, 2023, Baker Hughes’ annual commitments were 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 reduced the revenue recognized from the 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. The Company and Baker Hughes again revised and expanded the agreements in January 2023. Pursuant to this revised arrangement, the frequency of payments due from Baker Hughes to the Company was accelerated, Baker Hughes obtained expanded reseller rights, and the Company agreed to provide additional products and services. This results in an increase of the overall transaction price of the arrangement by eliminating potential variable consideration attributable to any revenue the Company generated from certain customers. The amount of consideration to the Company may increase if Baker Hughes exceeds certain thresholds. The Company also provided Baker Hughes the option to extend the subscription term upon payment of a renewal fee. Pursuant to the January 2023 revised agreement, the transaction price of the Baker Hughes arrangement is not impacted by revenue the Company recognizes from certain customers in the oil and gas field. Baker Hughes ceased to qualify as a related party of the Company as of June 30, 2023 and the amounts disclosed related to them are accordingly presented only for the periods in which they were considered a related party. The Company recognized subscription revenue from direct subscription fees from Baker Hughes of $10.6 million and $55.9 million during the nine months ended January 31, 2024 and 2023, respectively, and $20.3 million during the three months ended January 31, 2023. The Company recognized professional services revenue from Baker Hughes of $5.8 million and $8.7 million during the nine months ended January 31, 2024 and 2023, respectively, and $8.6 million during the three months ended January 31, 2023. The Company recognized sales and marketing expenses related to Baker Hughes of $0.8 million and $10.5 million (inclusive of amortization of $0.8 million and $3.6 million, respectively, of deferred commissions) during the nine months ended January 31, 2024 and 2023, respectively. The Company recognized sales and marketing expenses related to Baker Hughes of $3.5 million (inclusive of amortization of $1.2 million of deferred commissions) during the three months ended January 31, 2023. The Company paid sales commission of nil and $16.0 million during the nine months ended January 31, 2024 and 2023, respectively, related to this arrangement. Sublease Arrangement On February 21, 2023, the Company entered into a sublease agreement (the “Sublease”) with First Virtual Group, Inc. (the “Subtenant”), whereby the Company agreed to sublease to the Subtenant approximately 3,130 square feet of space located in Redwood City, California (the “Subleased Space”). The Company previously entered into a lease (the “Original Lease”) with DWF IV 1400-1500 Seaport Blvd, LLC dated August 25, 2021 for approximately 283,013 square feet of office space split between two office towers, including the Subleased Space. Thomas M. Siebel, Chief Executive Officer and Chairman of the Company, serves as Chairman of the Subtenant. The term of the Sublease commenced on February 1, 2023. The Sublease was automatically renewed on October 1, 2023 and will be automatically renewed for successive one year periods thereafter unless the Subtenant notifies the Company of its election to terminate the Sublease, up to the expiration date of the Original Lease. The monthly base rent for the Sublease is equal to the rate per square foot paid by the Company as stated in the Original Lease. The monthly base rent the Subtenant pays was approximately $8,608 through September 30, 2023, increasing annually thereafter. In addition to base rent, the Subtenant is responsible for its allocated share of costs incurred and expenditures made by the Company in the operation and management of the Subleased Space.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Insider Trading Arrangements

3 Months Ended

9 Months Ended

Jan. 31, 2024

Trading Arrangements, by Individual

Non-Rule 10b5-1 Arrangement Adopted

false

Rule 10b5-1 Arrangement Terminated

false

Non-Rule 10b5-1 Arrangement Terminated

false

Condoleezza Rice [Member]

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

During our last fiscal quarter, our directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated the contracts, instructions or written plans for the purchase or sale of our securities set forth in the table below.

Name and Position

Action

Date

Rule 10b5-1*

Non-Rule 10b5-1**

Total Shares of Common Stock to be Sold

Total Shares of Common Stock to be Purchased

Expiration Date

Condoleezza Rice

Director

Adoption

December 28, 2023

75,001

—

April 1, 2025

* Contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.

** “Non-Rule 10b5-1 trading arrangement” as defined in Item 408(c) of Regulation S-K under the Exchange Act.

Name

Condoleezza Rice

Title

Director

Rule 10b5-1 Arrangement Adopted

true

Adoption Date

December 28, 2023

Arrangement Duration

460 days

Aggregate Available

75,001

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

Jan. 31, 2024

Apr. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Liability for common stock exercised prior to vesting

$ 385

$ 799

Accrued general expenses

3,131

5,541

Operating lease liabilities, current

2,936

2,339

Accrued professional services

2,286

2,889

Commissions payable to a related party

2,448

Other

3,653

3,054

Accrued and other current liabilities

^[1]

$ 12,391

$ 17,070

[1]	Including amounts due to a related party of $2,448 as of April 30, 2023.

Summary of Business and Significant Accounting Policies	9 Months Ended
Summary of Business and Significant Accounting Policies	Jan. 31, 2024
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 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 other parts 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, 2023, which was filed with the SEC on June 22, 2023. 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 January 31, 2024 and the results of operations for the three and nine months ended January 31, 2024. The results of operations for the three and nine months ended January 31, 2024 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 the Company 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, but are not limited to, 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, the incremental borrowing rate for operating leases, 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, 2023, which was filed with the SEC on June 22, 2023. There have been no significant changes to these policies during the three and nine months ended January 31, 2024. Recently Issued Accounting Standards Not Yet Adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”) to improve the disclosures regarding a public entity’s reportable segments and address requests from investors for additional, more detailed information about a reportable segment’s expenses. The Company is required to adopt the guidance in the fourth quarter of fiscal 2025, though early adoption is permitted. The Company is currently evaluating the impact of this amendment on its Consolidated Financial Statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures (“ASU 2023-09”) to provide disaggregated income tax disclosures on rate reconciliation and income taxes paid. The Company is required to adopt the guidance in the fourth quarter of fiscal 2026, though early adoption is permitted. The Company is currently evaluating the impact of this amendment on its Consolidated Financial Statements.

Net Loss Per Share Attributable to Common Stockholders - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023
Numerator
Net loss attributable to common stockholders	$ (72,631)	$ (63,162)	$ (206,769)	$ (203,883)
Denominator
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic (in shares)	120,486	110,735	118,259	108,869
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, diluted (in shares)	120,486	110,735	118,259	108,869
Basic and diluted net loss per share attributable to common stockholders
Basic net loss per Class A and Class B common shares (in dollars per share)	$ (0.60)	$ (0.57)	$ (1.75)	$ (1.87)
Diluted net loss per Class A and Class B common shares (in dollars per share)	$ (0.60)	$ (0.57)	$ (1.75)	$ (1.87)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

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

+ References

+ Details

Revenue - Customer Concentration and Accounts Receivable (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023	Apr. 30, 2023
Disaggregation of Revenue [Line Items]
Unbilled receivables	$ 102.6		$ 102.6		$ 77.6
Customer Concentration Risk \| Revenue \| Customer One
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	25.00%	45.00%	27.00%	34.00%
Customer Concentration Risk \| Revenue \| Customer Two
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage	12.00%		13.00%
Customer Concentration Risk \| Accounts Receivable \| Customer One
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage			18.00%		20.00%
Customer Concentration Risk \| Accounts Receivable \| Customer Two
Disaggregation of Revenue [Line Items]
Customer concentration risk, percentage			14.00%		18.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Net Loss Per Share Attributable to Common Stockholders

9 Months Ended

Jan. 31, 2024

Earnings Per Share [Abstract]

Net Loss Per Share Attributable to Common Stockholders

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 and nine months ended January 31, 2024 and 2023. For purposes of this calculation, stock options, RSUs, Class A common stock issuable in connection with the 2020 ESPP 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.

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 January 31,				Nine Months Ended January 31,
	2024		2023		2024		2023
Numerator
Net loss attributable to common stockholders	$	(72,631)	$	(63,162)	$	(206,769)	$	(203,883)
Denominator
Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted	120,486		110,735		118,259		108,869
Basic and diluted net loss per share attributable to common stockholders
Basic and diluted net loss per Class A and Class B common shares	$	(0.60)	$	(0.57)	$	(1.75)	$	(1.87)


	As of January 31,
	2024	2023
Stock options	32,103	35,774
RSUs	20,908	19,919
ESPP	1,102	—

Revenue - Remaining Performance Obligation (Details) $ in Millions	Jan. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations, amount	$ 286.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-02-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized from remaining performance obligations, amount	$ 172.0
Revenue expected to be recognized from remaining performance obligations, period	12 months

Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Apr. 30, 2023
Available-for-sale marketable securities:
Total cash equivalents and available-for-sale marketable securities	$ 701,826	$ 717,717
Money market funds
Cash equivalents:
Estimated Fair Value	78,747	75,293
Certificates of deposit
Cash equivalents:
Estimated Fair Value	3,500	2,000
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	65,514	61,025
Commercial paper
Cash equivalents:
Estimated Fair Value	8,925	112,851
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	161,222	184,230
Corporate debt securities
Cash equivalents:
Estimated Fair Value	1,893	0
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	316,807	179,247
U.S. treasury securities
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	7,455	27,397
U.S. government agencies securities
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	57,763	75,674
Fair Value, Recurring
Available-for-sale marketable securities:
Total cash equivalents and available-for-sale marketable securities	701,826	717,717
Fair Value, Recurring \| Money market funds
Cash equivalents:
Estimated Fair Value	78,747	75,293
Fair Value, Recurring \| Certificates of deposit
Cash equivalents:
Estimated Fair Value	3,500	2,000
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	65,514	61,025
Fair Value, Recurring \| Commercial paper
Cash equivalents:
Estimated Fair Value	8,925	112,851
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	161,222	184,230
Fair Value, Recurring \| Corporate debt securities
Cash equivalents:
Estimated Fair Value	1,893	0
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	316,807	179,247
Fair Value, Recurring \| U.S. treasury securities
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	7,455	27,397
Fair Value, Recurring \| U.S. government agencies securities
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	57,763	75,674
Fair Value, Recurring \| Level 1
Available-for-sale marketable securities:
Total cash equivalents and available-for-sale marketable securities	78,747	75,293
Fair Value, Recurring \| Level 1 \| Money market funds
Cash equivalents:
Estimated Fair Value	78,747	75,293
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 \| 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 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 2
Available-for-sale marketable securities:
Total cash equivalents and available-for-sale marketable securities	623,079	642,424
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	3,500	2,000
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	65,514	61,025
Fair Value, Recurring \| Level 2 \| Commercial paper
Cash equivalents:
Estimated Fair Value	8,925	112,851
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	161,222	184,230
Fair Value, Recurring \| Level 2 \| Corporate debt securities
Cash equivalents:
Estimated Fair Value	1,893	0
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	316,807	179,247
Fair Value, Recurring \| Level 2 \| U.S. treasury securities
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	7,455	27,397
Fair Value, Recurring \| Level 2 \| U.S. government agencies securities
Available-for-sale marketable securities:
Available-for-sale marketable securities, fair value	57,763	75,674
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 \| 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
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