Item 6. SELECTED CONSOLIDATED FINANCIAL DATA

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Item 6. SELECTED CONSOLIDATED FINANCIAL DATA

The consolidated statements of operations data and the consolidated balance sheets data are derived from our audited consolidated financial statements and should be read together with “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” our consolidated financial statements, and the related notes included elsewhere in this filing. Our historical results are not necessarily indicative of our results in any future period.


	Year Ended January 31,
	2021		2020		2019		2018		2017
					As Adjusted(2)

	(in thousands, except per share data)
Consolidated Statements of Operations Data:
Revenues:
Subscription services	$	3,788,452	$	3,096,389	$	2,385,769	$	1,787,833	$	1,290,733
Professional services	529,544		530,817		436,411		355,217		283,707
Total revenues	4,317,996		3,627,206		2,822,180		2,143,050		1,574,440
Costs and expenses (1):
Costs of subscription services	611,912		488,513		379,877		273,461		213,389
Costs of professional services	586,220		576,745		455,073		355,952		270,156
Product development	1,721,222		1,549,906		1,211,832		910,584		680,531
Sales and marketing	1,233,173		1,146,548		891,345		683,367		565,328
General and administrative	414,068		367,724		347,337		222,909		198,122
Total costs and expenses	4,566,595		4,129,436		3,285,464		2,446,273		1,927,526
Operating income (loss)	(248,599)		(502,230)		(463,284)		(303,223)		(353,086)
Other income (expense), net	(26,535)		19,783		39,532		(11,563)		(32,427)
Loss before provision for (benefit from) income taxes	(275,134)		(482,447)		(423,752)		(314,786)		(385,513)
Provision for (benefit from) income taxes	7,297		(1,773)		(5,494)		6,436		(814)
Net loss	$	(282,431)	$	(480,674)	$	(418,258)	$	(321,222)	$	(384,699)
Net loss per share attributable to Class A and Class B common stockholders, basic and diluted	$	(1.19)	$	(2.12)	$	(1.93)	$	(1.55)	$	(1.94)
Weighted-average shares used to compute net loss per share attributable to Class A and Class B common stockholders	237,019		227,185		216,789		207,774		198,214

(1)Costs and expenses include share-based compensation expenses as follows (in thousands):


	Year Ended January 31,
	2021		2020		2019		2018		2017
Costs of subscription services	$	63,253	$	49,919	$	36,754	$	26,280	$	20,773
Costs of professional services	101,869		80,401		55,535		37,592		26,833
Product development	505,376		434,188		320,876		229,819		166,529
Sales and marketing	202,819		176,758		132,810		100,762		86,229
General and administrative	131,537		118,614		127,443		83,972		78,265

(2)The summary consolidated statement of operations data for the year ended January 31, 2017, reflects the adoption of Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606).


	As of January 31,
	2021		2020		2019		2018		2017
					As Adjusted(3)

			(in thousands)
Consolidated Balance Sheet Data:
Cash and cash equivalents	$	1,384,181	$	731,141	$	638,554	$	1,134,355	$	539,923
Marketable securities	2,151,472		1,213,432		1,139,864		2,133,495		1,456,822
Working capital	519,413		125,218		269,905		1,898,104		1,239,202
Property and equipment, net	972,403		936,179		796,907		546,609		365,877
Operating lease right-of-use assets	414,143		290,902		—		—		—
Total assets	8,718,411		6,816,365		5,520,746		4,947,424		3,268,282
Total unearned revenue	2,636,735		2,309,203		1,949,270		1,537,147		1,221,543
Total debt	1,795,014		1,262,286		1,204,778		1,491,354		534,423
Total operating lease liabilities	443,051		307,572		—		—		—
Total liabilities	5,440,577		4,329,814		3,562,304		3,367,059		1,991,674
Total stockholders’ equity	3,277,834		2,486,551		1,958,442		1,580,365		1,276,608

(3)The summary consolidated balance sheet data as of January 31, 2017, reflects the adoption of ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606).


	Year Ended January 31,
	2021		2020		2019		2018		2017
					As Adjusted(4)

	(in thousands)
Cash Flow Data:
Net cash provided by (used in) operating activities	$	1,268,441	$	864,598	$	606,658	$	465,727	$	350,626

(4)The summary consolidated cash flow data for the year ended January 31, 2017, reflects the adoption of ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash.

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