v3.26.1
Segment Information
 3 Months Ended
May 02, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has a single operating and reportable segment. The chief operating decision maker (“CODM”) is its Chief Executive Officer, who reviews financial information presented on a consolidated basis.
The CODM makes operating decisions, assesses financial performance, and allocates resources based on consolidated operating income (loss) and consolidated net income (loss) as reported on the condensed consolidated statements of operations and comprehensive income (loss). These financial metrics are used by the CODM to monitor budget versus actual results. The measure of segment assets is reported on the condensed consolidated balance sheets as total assets.
The table below presents selected financial information for the single operating segment (in thousands):
Three Months Ended
May 2, 2026May 3, 2025
Revenue$478,844$366,884
Cost of revenue (1) (2)
35,06224,443
Research and development (1)
67,55756,222
Sales and marketing (1) (3)
156,245123,447
General and administrative (1)
32,05245,064
Stock-based compensation expense77,47177,079
Connected device costs40,87633,380
Cloud and cellular costs38,20022,099
Sales commissions24,18618,405
Segment operating income (loss)$7,195$(33,255)
Interest income and other income, net (4)
41,73212,723
Provision for income taxes4,4191,589
Segment net income (loss)$44,508$(22,121)
__________
(1)These segment expenses exclude stock-based compensation expense, which is presented separately.
(2)Cost of revenue also excludes connected device costs and cloud and cellular costs, which are presented separately.
(3)Sales and marketing also excludes sales commissions, which is presented separately.
(4)Includes a legal gain from arbitration award of $30.3 million for the three months ended May 2, 2026, and interest income of $11.9 million and $11.2 million for the three months ended May 2, 2026 and May 3, 2025, respectively.
Refer to the condensed consolidated financial statements for other financial information regarding the Company’s operating segment, including depreciation and amortization expense.
Revenue by Geographic Area
The following table presents revenue disaggregated by geography, based on the location of the Company’s customers (in thousands):
Three Months Ended
May 2, 2026May 3, 2025
United States$406,530$316,992
Other (1)
72,31449,892
Total revenue$478,844$366,884
__________
(1)No individual country other than the United States exceeded 10% of total revenue for any period presented.
Long-Lived Assets, Net, by Geographic Area
The following table presents long-lived assets, net, disaggregated by geography, which consist of property and equipment, net, and operating lease ROU assets (in thousands):
As of
May 2, 2026January 31, 2026
United States$131,836$131,516
Other (1)
9,84710,394
Total long-lived assets, net$141,683$141,910
__________
(1)No individual country other than the United States exceeded 10% of total long-lived assets, net, for any period presented.