Segment Information (Tables)

3 Months Ended

May 02, 2026

The table below presents selected financial information for the single operating segment (in thousands):


	Three Months Ended
		May 2, 2026		May 3, 2025

Revenue		$	478,844	$	366,884

Cost of revenue (1) (2)		35,062		24,443
Research and development (1)		67,557		56,222
Sales and marketing (1) (3)		156,245		123,447
General and administrative (1)		32,052		45,064
Stock-based compensation expense		77,471		77,079
Connected device costs		40,876		33,380
Cloud and cellular costs		38,200		22,099
Sales commissions		24,186		18,405





Segment operating income (loss)		$	7,195	$	(33,255)

Interest income and other income, net (4)		41,732		12,723
Provision for income taxes		4,419		1,589
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.

Schedule of Disaggregation of Revenue

The following table presents revenue disaggregated by geography, based on the location of the Company’s customers (in thousands):


	Three Months Ended
		May 2, 2026		May 3, 2025
United States		$	406,530	$	316,992
Other (1)		72,314		49,892
Total revenue		$	478,844	$	366,884

__________

(1)No individual country other than the United States exceeded 10% of total revenue for any period presented.

Schedule of Long-lived Assets by Geographic Areas

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, 2026		January 31, 2026
United States	$	131,836	$	131,516
Other (1)	9,847		10,394
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.