Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Jan. 31, 2019	Feb. 28, 2019	Jul. 31, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	HEALTHEQUITY INC
Entity Central Index Key	0001428336
Current Fiscal Year End Date	--01-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Jan. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		62,471,952
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 4.1
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false

Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 31, 2019	Jan. 31, 2018
Current assets
Cash and cash equivalents	$ 361,475	$ 199,472
Marketable securities, at fair value	0	40,797
Total cash, cash equivalents and marketable securities	361,475	240,269
Accounts receivable, net of allowance for doubtful accounts of $125 and $208 as of January 31, 2019 and 2018, respectively	25,668	21,602
Other current assets	7,534	3,525
Total current assets	394,677	265,396
Property and equipment, net	8,223	7,836
Intangible assets, net	79,666	83,635
Goodwill	4,651	4,651
Deferred tax asset	1,677	5,461
Other assets	21,122	2,180
Total assets	510,016	369,159
Current liabilities
Accounts payable	3,520	2,420
Accrued compensation	16,981	12,549
Accrued liabilities	8,552	5,521
Total current liabilities	29,053	20,490
Long-term liabilities
Other long-term liabilities	2,968	2,395
Deferred tax liability	916	0
Total long-term liabilities	3,884	2,395
Total liabilities	32,937	22,885
Commitments and contingencies (see note 6)
Stockholders’ equity
Preferred stock, $0.0001 par value, 100,000 shares authorized, no shares issued and outstanding as of January 31, 2019 and 2018	0	0
Common stock, $0.0001 par value, 900,000 shares authorized, 62,446 and 60,825 shares issued and outstanding as of January 31, 2019 and 2018, respectively	6	6
Additional paid-in capital	305,223	261,237
Accumulated other comprehensive loss, net	0	(269)
Accumulated earnings	171,850	85,300
Total stockholders’ equity	477,079	346,274
Total liabilities and stockholders’ equity	$ 510,016	$ 369,159

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jan. 31, 2019	Jan. 31, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 125	$ 208
Preferred stock par value (dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (shares)	100,000,000	100,000,000
Preferred stock, shares issued (shares)	0	0
Preferred stock, shares outstanding (shares)	0	0
Common stock, par value per share (dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (shares)	900,000,000	900,000,000
Common stock, shares issued (shares)	62,446,000	60,825,000
Common stock, shares outstanding (shares)	62,446,000	60,825,000

Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Total revenue	$ 287,243	$ 229,525	$ 178,370
Total cost of revenue	106,050	94,609	72,015
Gross profit	181,193	134,916	106,355
Operating expenses
Sales and marketing	29,498	23,139	18,320
Technology and development	35,057	27,385	22,375
General and administrative	33,039	25,111	20,151
Amortization of acquired intangible assets	5,929	4,863	4,297
Total operating expenses	103,523	80,498	65,143
Income from operations	77,670	54,418	41,212
Other expense
Other expense, net	(1,852)	(2,229)	(1,092)
Total other expense	(1,852)	(2,229)	(1,092)
Income before income taxes	75,818	52,189	40,120
Income tax provision	1,919	4,827	13,744
Net income	$ 73,899	$ 47,362	$ 26,376
Net income per share:
Basic (usd per share)	$ 1.20	$ 0.79	$ 0.45
Diluted (usd per share)	$ 1.17	$ 0.77	$ 0.44
Weighted-average number of shares used in computing net income per share:
Basic (shares)	61,836	60,304	58,615
Diluted (shares)	63,370	61,854	59,894
Comprehensive income:
Net income	$ 73,899	$ 47,362	$ 26,376
Other comprehensive loss:
Unrealized loss on available-for-sale marketable securities, net of tax	0	(59)	(67)
Comprehensive income	73,899	47,303	26,309
Service revenue
Total revenue	100,564	91,619	77,254
Total cost of revenue	76,858	70,426	51,868
Custodial revenue
Total revenue	126,178	87,160	59,593
Total cost of revenue	14,124	11,400	9,767
Interchange revenue
Total revenue	60,501	50,746	41,523
Total cost of revenue	$ 15,068	$ 12,783	$ 10,380

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common stock	Additional paid-in capital	Accumulated compre- hensive loss	Accumulated earnings (deficit)
Opening balance (shares) at Jan. 31, 2016		57,726
Opening balance at Jan. 31, 2016	$ 203,457	$ 6	$ 199,940	$ (98)	$ 3,609
Stockholders’ equity
Issuance of common stock upon exercise of options, and for restricted stock units (in shares)		1,812
Issuance of common stock upon exercise of options, and for restricted stock units	7,142		7,142
Stock-based compensation	8,398		8,398
Tax benefit on stock options exercised	16,634		16,634
Other comprehensive loss, net of tax	(67)			(67)
Net income	26,376				26,376
Ending balance (shares) at Jan. 31, 2017		59,538
Ending balance at Jan. 31, 2017	261,940	$ 6	232,114	(165)	29,985
Stockholders’ equity
Issuance of common stock upon exercise of options, and for restricted stock units (in shares)		1,287
Issuance of common stock upon exercise of options, and for restricted stock units	14,564		14,564
Stock-based compensation	14,310		14,310
Other comprehensive loss, net of tax	(59)			(59)
Net income	47,362				47,362
Ending balance (shares) at Jan. 31, 2018		60,825
Ending balance at Jan. 31, 2018	346,274	$ 6	261,237	(269)	85,300
Stockholders’ equity
Cumulative effect from adoption of accounting standard update \| Accounting Standards Update 2018-02				(45)	45
Issuance of common stock upon exercise of options, and for restricted stock units (in shares)		1,621
Issuance of common stock upon exercise of options, and for restricted stock units	22,929		22,929
Stock-based compensation	21,057		21,057
Net income	73,899				73,899
Ending balance (shares) at Jan. 31, 2019		62,446
Ending balance at Jan. 31, 2019	$ 477,079	$ 6	$ 305,223	$ 0	$ 171,850

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Cash flows from operating activities:
Net income	$ 73,899	$ 47,362	$ 26,376
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	18,185	15,952	13,186
Deferred taxes	408	4,306	(2,891)
Stock-based compensation	21,057	14,310	8,398
Bad debt expense	240	133	35
Loss on disposal of software development costs and other	933	464	96
Changes in operating assets and liabilities:
Accounts receivable	(4,306)	(4,734)	(2,728)
Other assets	(5,893)	(760)	(1,343)
Accounts payable	863	(581)	567
Accrued compensation	4,432	3,827	946
Accrued liabilities	3,031	484	1,729
Other long-term liabilities	573	939	1,220
Net cash provided by operating activities	113,422	81,702	45,591
Cash flows from investing activities:
Purchase of marketable securities	(728)	(483)	(379)
Purchase of property and equipment	(3,869)	(5,458)	(3,645)
Purchase of software and capitalized software development costs	(9,978)	(10,380)	(9,030)
Acquisition of intangible member assets	(1,195)	(17,545)	0
Acquisition of a business	0	(2,882)	0
Proceeds from sale of marketable securities	41,422	0	0
Net cash provided by (used in) investing activities	25,652	(36,748)	(13,054)
Cash flows from financing activities:
Proceeds from exercise of common stock options	22,929	14,564	7,142
Tax benefit from exercise of common stock options	0	0	16,634
Net cash provided by financing activities	22,929	14,564	23,776
Increase in cash and cash equivalents	162,003	59,518	56,313
Beginning cash and cash equivalents	199,472	139,954	83,641
Ending cash and cash equivalents	361,475	199,472	139,954
Supplemental cash flow data:
Interest expense paid in cash	203	203	213
Income taxes paid in cash, net of refunds received	587	27	863
Supplemental disclosures of non-cash investing and financing activities:
Purchases of property and equipment included in accounts payable or accrued liabilities at period end	37	0	25
Customer relationships
Supplemental disclosures of non-cash investing and financing activities:
Purchases of intangible assets	0	1,409	0
Computer Software, Intangible Asset
Supplemental disclosures of non-cash investing and financing activities:
Purchases of intangible assets	$ 200	$ 3	$ 330

Summary of business and significant accounting policies

12 Months Ended

Jan. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of business and significant accounting policies

HealthEquity, Inc. was incorporated in the state of Delaware on September 18, 2002, and was organized to offer a full range of innovative solutions for managing health care accounts (Health Savings Accounts ("HSAs"), Health Reimbursement Arrangements ("HRAs"), and Flexible Spending Accounts ("FSAs")) for health plans, insurance companies, and third-party administrators.

In February 2006, HealthEquity, Inc. received designation by the U.S. Department of Treasury to act as a passive non-bank custodian, which allows HealthEquity, Inc. to hold custodial assets for individual account holders. On July 24, 2017, HealthEquity, Inc. received designation by the U.S. Department of Treasury to act as both a passive and non-passive non-bank custodian, which allows HealthEquity, Inc. to hold custodial assets for individual account holders and use discretion to direct investment of such assets held. As a passive and non-passive non-bank custodian according to Treasury Regulations section 1.408-2(e)(5)(ii)(B), the Company must maintain net worth (assets minus liabilities) greater than 2% of passive custodial funds held at each calendar year-end and 4% of the non-passive custodial funds held at each calendar year-end in order to take on additional custodial assets.

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, or GAAP, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The financial statements and notes are representations of the Company's management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the consolidated financial statements, except for the new accounting pronouncements, which were adopted during the year ended January 31, 2019 as described below.

Certain reclassifications have been made to prior year amounts to conform to the current year presentation.

Principles of consolidation

The consolidated financial statements include the accounts of HealthEquity, Inc. and its wholly owned subsidiaries, HealthEquity Trust Company, HEQ Insurance Services, Inc., HealthEquity Advisors, LLC and HealthEquity Retirement Services, LLC (collectively referred to as the "Company").

During the year ended January 31, 2015, the Company and an unrelated company formed a limited partnership for investment in and the management of early stage companies in the healthcare industry. The Company has a 22% ownership interest in such partnership that is accounted for using the equity method of accounting. The investment was approximately $0.2 million as of January 31, 2019 and is included in other assets on the accompanying consolidated balance sheets.

During the year ended January 31, 2016, the Company purchased an approximate 1% ownership interest in a limited partnership that engages in the development of technology-based financial healthcare products. The Company elected the measurement alternative for non-marketable investments previously accounted for under the cost method of accounting to account for the investment. The investment was $0.5 million as of January 31, 2019 and is included in other assets on the accompanying consolidated balance sheet.

During the year ended January 31, 2017, the Company formed HealthEquity Trust Company, a Wyoming corporation and non-depository trust company, to act as the master custodian of all investment assets held in HSAs administered by the Company.

During the year ended January 31, 2018, the Company formed HealthEquity Retirement Services, LLC, a Delaware limited liability company, to acquire and own the assets of BenefitGuard LLC and provide ERISA plan fiduciary services.

All significant intercompany balances and transactions have been eliminated.

Segments

The Company operates in one segment. Management uses one measurement of profitability and does not segregate its business for internal reporting. All long-lived assets are maintained in the United States of America.

Cash and cash equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The Company’s cash and cash equivalents were held in institutions in the U.S. and include deposits in a money market account that was unrestricted as to withdrawal or use.

Accounts receivable

Accounts receivable represent monies due to the Company for monthly service revenue, custodial revenue and interchange revenue. As of January 31, 2019 and 2018, service revenue receivables, net, were $6.3 million and $7.9 million, custodial revenue receivables were $13.8 million and $9.0 million, and interchange revenue receivables were $5.6 million and $4.7 million, respectively. The Company maintains an allowance for doubtful accounts to reserve for potentially uncollectible receivable amounts. In evaluating the Company’s ability to collect outstanding receivable balances, the Company considers various factors including the age of the balance, the creditworthiness of the customer, which is assessed based on ongoing credit evaluations and payment history, and the customer’s current financial condition. As of January 31, 2019 and 2018, the Company had allowance for doubtful accounts of $0.1 million and $0.2 million, respectively.

Investments

In January 2019, the Company sold all the marketable securities it previously held. See Note 3—Cash, Cash Equivalents and Marketable Securities for additional information regarding the realized loss on sale of marketable securities. The Company classified marketable securities, which consisted primarily of mutual funds invested in corporate bonds, U.S. government agency securities, U.S. treasury bills, commercial paper, certificates of deposit, municipal notes, and bonds with original maturities beyond three months at the time of purchase as available-for-sale. Marketable securities were reported at fair value with changes included in other expense, net in the consolidated statements of operations and comprehensive income. The Company used the specific identification method to determine cost in calculating the realized loss upon the sale of marketable securities. The Company periodically evaluated its marketable securities to assess whether those with unrealized loss positions were other-than-temporarily impaired. The Company considered impairments to be other than temporary if they were related to deterioration in credit risk or if it was likely it would sell the securities before the recovery of their cost basis.

Equity investments are accounted for using the equity method of accounting if the investment gives the Company the ability to exercise significant influence, but not control, over an investee. Equity-method investments are included in other assets on the consolidated balance sheets. The Company's share of the earnings or losses as reported by equity-method investees, amortization of basis differences, and related gains or losses, if any, are recognized in other expense, net on the consolidated statements of operations and comprehensive income.

Equity investments without readily determinable fair values and for which the Company does not have the ability to exercise significant influence are accounted for using the measurement alternative and are classified as other assets on the consolidated balance sheets. All gains and losses on these investments, realized and unrealized, are recognized in other expense, net on the consolidated statements of operations and comprehensive income.

The Company assesses whether an other-than-temporary impairment loss on equity method investments and an impairment loss on measurement alternative investments has occurred due to declines in fair value or other market conditions. If any impairment is considered other than temporary for equity method investments or impairment is identified for measurement alternative investments, the Company will write down the investment to its fair value and record the corresponding charge through other expense, net in the consolidated statements of operations and comprehensive income.

Other assets

Other assets consist primarily of contract costs, prepaid expenditures, income tax receivables, inventories, and various other assets. Amounts expected to be recouped or recognized over a period of twelve months or less have been classified as current in the accompanying consolidated balance sheets.

Property and equipment

Property and equipment, including leasehold improvements, are stated at cost less accumulated depreciation. Depreciation is determined using the straight-line method over the estimated useful lives of individual assets. The useful life for leasehold improvements is the shorter of the estimated useful life or the term of the lease ranging from 3-5 years. The useful life used for computing depreciation for all other asset classes is described below:



Computer equipment	3-5 years
Furniture and fixtures	5 years

Maintenance and repairs are expensed when incurred, and improvements that extend the economic useful life of an asset are capitalized. Gains and losses on the disposal of property and equipment are reflected in operating expenses.

Capitalized software development costs

We account for the costs of computer software developed or obtained for internal use in accordance with Accounting Standards Codification (“ASC”) 350-40, “Internal-Use Software.” Costs incurred during operation and post-implementation stages are charged to expense. Costs incurred during the application development stage that are directly attributable to developing or obtaining software for internal use are capitalized. Management’s judgment is required in determining the point when various projects enter the stages at which costs may be capitalized, in assessing the ongoing value of the capitalized costs and in determining the estimated useful lives over which the costs are amortized. See Note 5—Intangible assets and goodwill for additional information.

Intangible assets, net

Intangible assets are carried at cost and amortized, typically, on a straight-line basis over their estimated useful lives. The useful life used for computing amortization for all intangible asset classes is described below:



Computer software and capitalized software development costs	3 years
401(k) customer relationships	10 years
Acquired HSA intangible member assets	15 years

Acquired intangible member assets are the result of various acquisitions of HSA portfolios. A significant portion of the purchase price from each acquisition has been allocated to the acquired HSA assets, which consists of the contractual rights to administer the activities related to the individual HSAs acquired. The Company used its HSA customer relationship period assumption and the historical attrition rates of member accounts to determine that an average useful life of 15 years and the use of a straight-line amortization method are appropriate to reflect the pattern over which the economic benefits of existing member assets are realized. The Company reviews identifiable amortizable intangible assets to be held and used for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Determination of recoverability is based on the lowest level of identifiable estimated undiscounted cash flows resulting from use of the asset and its eventual disposition. Measurement of any impairment loss is based on the excess of the carrying value of the asset over its fair value. During the year ended January 31, 2019, the Company incurred a loss on disposal of approximately $0.7 million of previously capitalized software development costs. No impairment charges have been recorded during the years ended January 31, 2018 and 2017. See Note 5—Intangible assets and goodwill for additional information.

Goodwill

Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. Goodwill is not amortized, but is tested for impairment annually on January 31 or more frequently if events or changes in circumstances indicate that the asset may be impaired. The Company’s impairment tests are based on a single operating segment and reporting unit structure. The goodwill impairment test involves a two-step process. The first step involves comparing the Company's market capitalization to the carrying value of the reporting unit, including goodwill. If the carrying value of the reporting unit exceeds its fair value, the second step of the test is performed by comparing the carrying value of the goodwill in the reporting unit to its implied fair value. An impairment charge is recognized for the excess of the carrying value of goodwill over its implied fair value.

The Company’s annual goodwill impairment test resulted in no impairment charges in any of the periods presented in the accompanying consolidated financial statements.

Self insurance

The Company is self-insured for medical insurance up to certain annual stop-loss limits. The Company establishes a liability as of the balance sheet date for claims, both reported and incurred but not reported, using currently available information as well as historical claims experience, and as determined by an independent third party.

Other long-term liabilities

The Company recognizes rental expense for its office lease on a straight-line basis over the lease term. Other long-term liabilities includes deferred rent, which represents the difference between actual operating lease payments due and straight-line rent expense. The excess is recorded as a deferred credit in the early periods of the lease, when cash payments are generally lower than straight-line rent expense, and is reduced in the later periods of the lease when payments begin to exceed the straight-line expense.

Revenue recognition

On February 1, 2018, the Company adopted Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers ("ASC 606"), which replaced most existing revenue recognition guidance in GAAP, using the modified retrospective method for all contracts not completed as of the date of adoption. The Company recorded the cumulative effect of initially applying ASC 606 as an adjustment to the opening balance of retained earnings. The comparative period information has not been restated and continues to be reported under the accounting standards in effect for that period. The adoption of ASC 606 did not have a material impact on the Company's revenue for the year ended January 31, 2019.

Effective February 1, 2018, the Company capitalizes incremental contract acquisition costs, such as sales commissions, previously included in sales and marketing expenses in the consolidated statement of operations and comprehensive income, and amortizes these costs over the average estimated economic life of an HSA Member, RA customer relationship, and 401(k) customer relationship. The Company's prior practice was to fully expense sales commissions when the respective account was added to the Company's platform.

The cumulative effect of the changes made to the Company's consolidated balance sheet as of February 1, 2018 for the adoption of ASC 606 is as follows:



(in thousands)	January 31, 2018		Adjustments			February 1, 2018
Other current assets	$	3,310	$	1,366		$	4,676
Deferred tax asset	5,461		(4,187		)	1,274
Other assets	2,180		15,847			18,027
Deferred tax liability	—		18			18
Accumulated earnings	$	85,300	$	13,007		$	98,307

The impact of adoption on the Company's consolidated statement of operations and comprehensive income for the year ended January 31, 2019 is as follows:



(in thousands)	As reported		Without adoption of ASC 606		Effect of change higher (lower)
Sales and marketing	$	29,498	$	31,335	$	(1,837	)
Income from operations	77,670		75,833		1,837
Income tax provision	1,919		1,470		449
Net income	$	73,899	$	72,511	$	1,388

The impact of adoption on the Company's consolidated balance sheet as of January 31, 2019 is as follows:



(in thousands)	As reported		Without adoption of ASC 606		Effect of change higher (lower)
Other current assets	$	7,534	$	5,815	$	1,719
Deferred tax asset	1,677		5,415		(3,738		)
Other assets	21,122		3,790		17,332
Deferred tax liability	916		—		916
Accumulated earnings	$	171,850	$	157,455	$	14,395

Under ASC 606, the Company recognizes revenue when control of the promised goods or services is transferred to its customers, in an amount that reflects the consideration it expects to be entitled to in exchange for those goods or services.

The Company determines revenue recognition through the following steps:


•	identification of the contract, or contracts, with a customer;


•	identification of the performance obligations in the contract;


•	determination of the transaction price;


•	allocation of the transaction price to the performance obligations in the contract; and


•	recognition of revenue when, or as, we satisfy a performance obligation.

Disaggregation of revenue. The Company's primary sources of revenue are service, custodial, and interchange revenue and are disclosed in the consolidated statements of operations and comprehensive income. All of the Company's sources of revenue are deemed to be revenue contracts with customers. Each revenue source is affected differently by economic factors as it relates to the nature, amount, timing and uncertainty.

Costs to obtain a contract. ASC 606 requires capitalizing the costs of obtaining a contract when those costs are expected to be recovered. Since incremental commissions paid to sales team members as a result of obtaining contracts are recoverable, the Company recorded a $17.2 million cumulative catch-up capitalized asset on February 1, 2018. As of January 31, 2019, the net amount capitalized as contract costs was $19.1 million, which is included in other current assets and other assets.

In order to determine the amortization period for sales commissions contract costs, the Company applied the portfolio approach. Accordingly, the amortization period of the assets has been determined to be the average economic life of an HSA Member, RA customer relationship, and 401(k) customer relationship, which is estimated to be 15 years, 7 years, and 10 years, respectively. Amortization of capitalized sales commission contract costs is included in sales and marketing expenses in the consolidated statements of operations and comprehensive income.

Performance obligations. ASC 606 requires disclosure of the aggregate amount of the transaction price allocated to unsatisfied performance obligations; however, as permitted by ASC 606, the Company has elected to exclude from this disclosure any contracts with an original duration of one year or less and any variable consideration that meets specified criteria. Amounts excluded are not significant to the Company's consolidated statements of operations and comprehensive income.

Service revenue. The Company hosts its platform, prepares statements, provides a mechanism for spending funds, and provides customer support services. All of these services are consumed as they are received. The Company will continue to recognize service revenue, in an amount that reflects the consideration it expects to be entitled to in exchange for those services, on a monthly basis as it satisfies its performance obligations.

Custodial revenue. The Company deposits custodial cash at federally-insured custodial depository partners and investment assets with an investment partner. The deposit of funds represents a service that is simultaneously received and consumed by the custodial depository partners and investment partner. The Company will continue to recognize custodial revenue, in an amount that reflects the consideration it expects to be entitled to in exchange for the service, each month based on the amount received by its custodial partners and investment partners.

Interchange revenue. The Company satisfies its interchange performance obligation each time payments are made with its cards via payment networks. The Company will continue to recognize interchange revenue, in an amount that reflects the consideration it expects to be entitled to in exchange for the service, in the month the payment transaction occurs.

Contract balances. The Company does not recognize revenue in advance of invoicing its customers and therefore has no related contract assets. The Company records a receivable when revenue is recognized prior to payment and the Company has unconditional right to payment. Alternatively, when payment precedes the related services, the Company records a contract liability, or deferred revenue, until its performance obligations are satisfied. The Company's deferred revenue as of January 31, 2019 and 2018 was $0.3 million and $0.4 million, respectively. The balances related to cash received in advance for a certain interchange revenue arrangement. From the deferred revenue balance as of February 1, 2018, revenue recognized during the year ended January 31, 2019 was $0.2 million. The Company expects to satisfy its remaining obligations for this arrangement.

Significant judgments. The Company makes no significant judgments in determining the amount or timing of revenue recognition. The Company has estimated the average economic life of an HSA Member, RA customer relationship, and a 401(k) customer relationship to be 15 years, 7 years, and 10 years, respectively, and which has been determined to be the amortization period for the capitalized sales commissions contract costs.

Practical expedients. The Company has applied the practical expedient which allows an entity to account for incremental costs of obtaining a contract at a portfolio level. The Company has also applied the practical expedient to recognize incremental costs of obtaining contracts as an expense when incurred if the amortization period would have been one year or less.

Cost of revenue

The Company incurs cost of revenue related to servicing member accounts, managing customer and partner relationships, and processing reimbursement claims. Expenditures include personnel-related costs, depreciation, amortization, stock-based compensation, common expense allocations, new member and participant supplies and other operating costs of the Company’s related member account servicing departments. Other components of the Company’s cost of revenue sold include interest retained by members on custodial assets held and interchange costs incurred in connection with processing card transactions initiated by members.

Stock-based compensation

The Company grants stock-based awards, which consist of stock options, restricted stock units ("RSUs") and restricted stock awards ("RSAs"), to certain team members, executive officers, and directors. The Company recognizes compensation expense for stock-based awards based on the grant date estimated fair value. Expense for stock-based awards is generally recognized on a straight-line basis over the requisite service period, and is reversed as pre-vesting forfeitures occur. The fair value of stock options is determined using the Black-Scholes option pricing model. The determination of fair value for stock options on the date of grant using an option pricing model requires management to make certain assumptions regarding a number of complex and subjective variables. The fair value of RSUs and RSAs is based on the current value of the Company's closing stock price on the date of grant less the present value of future expected dividends discounted at the risk-free interest rate.

For stock-based awards with performance conditions, the Company evaluates the probability of achieving the performance criteria and of the number of shares that are expected to vest, and compensation expense is then adjusted to reflect the number of shares expected to vest and the requisite service period. For awards with performance conditions, compensation expense is recognized using the graded-vesting attribution method in accordance with the provisions of FASB ASC Topic 718, Compensation—Stock Compensation ("Topic 718"). See Note 9—Stock-based compensation for additional information.

Upon the exercise of a stock option or release of an RSU/RSA, common shares are issued from authorized, but not outstanding, common stock.

Income tax provision

The Company accounts for income taxes and the related accounts under the liability method as set forth in the authoritative guidance for accounting for income taxes. Under this method, current tax liabilities and assets are recognized for the estimated taxes payable or refundable on the tax returns for the current fiscal year. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, for net operating losses, and for tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted statutory tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be realized or settled. The effect on deferred tax assets and liabilities of changes in tax rates is recognized in income in the period that includes the enactment date.

A valuation allowance is provided for when it is more likely than not that some or all of the deferred tax assets may not be realized in future years. After weighing both the positive and negative evidence, the Company has recorded a valuation allowance with respect to realized capital losses for which the Company does not expect to generate capital gains in order to utilize the capital losses in the future. The Company believes that it is more likely than not that all other deferred tax assets will be realized as of January 31, 2019. The Company uses the tax law ordering approach of intraperiod allocation in determining when excess tax benefits have been realized for provisions of the tax law that identify the sequence in which those amounts are utilized for tax purposes.

The Company has also elected to exclude the indirect tax effects of share-based compensation deductions in computing the income tax provision recorded within the consolidated statements of operations and comprehensive income. Also, the Company uses the portfolio approach in releasing income tax effects from accumulated other comprehensive income. The Company recognizes the tax benefit from an uncertain tax position taken or expected to be taken in a tax return using a two-step approach. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that it is more likely than not that the tax position will be sustained upon examination by the relevant taxing authorities, based on the technical merits of the position. For tax positions that are more likely than not to be sustained upon audit, the second step is to measure the tax benefit in the financial statements as the largest benefit that has a greater than 50% likelihood of being sustained upon settlement.

The Company recognizes interest and penalties, if any, related to unrecognized tax benefits as a component of other expense in the consolidated statements of operations and comprehensive income. Significant judgment is required to evaluate uncertain tax positions. Changes in facts and circumstances could have a material impact on the Company’s effective tax rate and results of operations.

Comprehensive income

Comprehensive income is defined as a change in equity of a business enterprise during a period, resulting from transactions from non-owner sources, including unrealized gains and losses on marketable securities prior to the February 1, 2018 adoption of ASU 2016-01.

Asset acquisitions

During the year ended January 31, 2019, the Company acquired the rights to be the custodian of an HSA portfolio. During the year ended January 31, 2018, the Company acquired the rights to be the custodian of two HSA portfolios and rights to act as sole administrator of one portfolio. Substantially all of the fair value of the gross portfolio assets acquired was concentrated in a group of similar HSA assets and therefore the acquisitions did not constitute a business. Accordingly, the acquisitions were accounted for under the asset acquisition method of accounting in accordance with ASC 805-50, Business Combinations—Related Issues. Under the asset acquisition method of accounting, the Company is required to fair value the assets transferred. The cost of the assets acquired was allocated to the individual assets acquired based on their relative fair values and does not give rise to goodwill. The purchase price was allocated to acquired intangible member assets. Furthermore, transaction costs that are incurred in conjunction with an asset acquisition are allocated to the acquired intangible member assets.

Business combination

Acquisition-related expenses incurred in conjunction with the acquisition of a business as defined by ASC 805-10 are recognized in earnings in the period in which they are incurred and are included in other expense, net on the consolidated statement of operations. During the years ended January 31, 2019, 2018 and 2017, the Company incurred an expense of $2.1 million, $2.2 million, and $0.6 million, respectively, for acquisition-related activity. There were no business combinations during the years ended January 31, 2019 and 2017.

Concentration of market risk

The Company derives a substantial portion of its revenue from providing services for healthcare accounts. A significant downturn in this market or changes in state and/or federal laws impacting the preferential tax treatment of healthcare accounts could have a material adverse effect on the Company’s results of operations. For the years ended January 31, 2019, 2018 and 2017, no one customer accounted for greater than 10% of revenue or accounts receivable.

Concentration of credit risk

Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash. The Company maintains its cash and cash equivalents in bank and other depository accounts, which, frequently exceeds federally insured limits. The Company’s cash and cash equivalents held in banks as of January 31, 2019 was $361.5 million, of which $1.0 million was covered by federal depository insurance. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash. The Company’s accounts receivable balance as of January 31, 2019 was $25.7 million. The Company has not experienced any significant write-offs to accounts receivable and believes that it is not exposed to significant credit risk with respect to accounts receivable.

Interest rate risk

The Company has entered into depository agreements with financial institutions for its custodial cash deposits. The contracted interest rates were negotiated at the time the depository agreements were executed. A significant reduction in prevailing interest rates may make it difficult for the Company to continue to place custodial deposits at the current contracted rates.

Use of estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management has made estimates for the allowance for doubtful accounts, capitalized software development costs, evaluating goodwill and long-lived assets for impairment, useful lives of property and equipment and intangible assets, accrued compensation, accrued liabilities, grant date fair value of stock options and income taxes. Actual results could differ from those estimates.

Change in estimate. Effective November 1, 2018, the Company prospectively changed its estimate of the useful life of capitalized incremental costs to obtain an RA contract to better reflect the estimated periods during which the intangible asset is expected to generate cash flows. The incremental costs to obtain an RA contract were previously amortized over the same life as the incremental costs to obtain an HSA contract, which is estimated to be 15 years. The Company determined the amortization period of the intangible assets to be the average economic life of an RA customer relationship, which is estimated to be 7 years. The change in estimate and resulting accelerated amortization did not have a material effect on the Company's consolidated financial statements for the year ended January 31, 2019. Further, the Company does not expect the accelerated amortization to have a material impact on its consolidated financial statements for the year ended January 31, 2020.

Recent adopted accounting pronouncements

Adoption of ASC 606

In May 2014, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers ("ASC 606"), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. This ASU and related subsequent amendments replaces most existing revenue recognition guidance in GAAP. The Company adopted ASC 606 on February 1, 2018 using the modified retrospective transition method. See Revenue Recognition above for further details.

Adoption of ASU 2016-01

In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Liabilities. In February 2018, the FASB issued ASU No. 2018-03, Technical Corrections and Improvements to Financial Instruments-Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities, which clarifies certain aspects of the guidance issued in ASU 2016-01. These updates revise an entity's accounting related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. This ASU 2016-01 also amends certain disclosure requirements associated with the fair value of financial instruments. The Company adopted these ASUs on February 1, 2018 using the modified retrospective method. The Company recorded the cumulative effect as an adjustment to the opening balance of retained earnings. The comparative period information has not been restated and continues to be reported under the accounting standards in effect for that period.The cumulative effect of the changes made to the Company's consolidated balance sheet as of February 1, 2018 due to the adoption of ASU 2016-01 were as follows:



(in thousands)	January 31, 2018			Adjustments			February 1, 2018
Deferred tax asset	$	5,461		$	(87	)	$	5,374
Accumulated other comprehensive loss	$	(269	)	$	269		$	—
Accumulated earnings	$	85,300		$	(356	)	$	84,944

This ASU also eliminated the cost method of accounting for investments in equity securities that do not have readily determinable fair values and permits the election of a measurement alternative that allows such securities to be recorded at cost, less impairment, if any, plus or minus changes resulting from observable price changes in market-based transactions for an identical or similar investment of the same issuer. The Company adopted this provision on a prospective basis as it relates to its 1% ownership interest in a limited partnership and elected the measurement alternative for non-marketable investments previously accounted for under the cost method of accounting. Gains and losses resulting from observable price changes in market-based transactions for an identical or similar investment of the same issuer or impairment will be recognized in other expense, net on the consolidated statements of operations and comprehensive income in the period incurred. No observable price changes occurred during the year ended January 31, 2019.

The impact of the adoption on the Company's consolidated financial statements for the year ended January 31, 2019 was not significant.

Adoption of ASU 2018-02

In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which gives companies the option to reclassify between accumulated other comprehensive income ("AOCI") and retained earnings the income tax rate differential that has become stranded in AOCI as a result of the enactment of the Tax Cuts and Jobs Act and the revaluation of certain deferred tax assets and liabilities at the new federal income tax rate of 21%. This ASU is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company elected to early adopt this ASU in the fourth quarter of fiscal year 2018. As a result of adopting this standard, the reclassification of the income tax effects of this tax reform during the year ended January 31, 2018 resulted in an increase to retained earnings and a decrease to AOCI in the amount of $45,000 related to the decrease in the federal corporate income tax rate. The Company's policy is to use the portfolio approach in releasing income tax effects from AOCI.

Adoption of ASU 2016-16

In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740) - Intra-Entity Transfers of Assets Other Than Inventory, which updates the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company adopted this ASU during the year ended January 31, 2019. There was no impact on the Company's consolidated financial statements as a result of the adoption.

Adoption of ASU 2016-15

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230), which provides guidance on the classification of certain cash receipts and cash payments. This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company adopted this ASU during the year ended January 31, 2019. Adoption of the ASU did not have a material impact on the Company's consolidated financial statements.

Adoption of ASU 2017-09

In May 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting, which provides guidance about changes to the terms or conditions of a share-based payment award. This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company adopted this ASU during the year ended January 31, 2019, and prospectively applies this standard to awards modified on or after the adoption date. There was no impact on the Company's consolidated financial statements as a result of the adoption.

Recent issued accounting pronouncements

In February 2016, the FASB issued ASU 2016-02, Leases (codified as "ASC 842"), which sets out the principles for the recognition, measurement, presentation and disclosure for both parties to a contract (i.e., lessees and lessors). ASC 842 supersedes the previous leases standard, ASC 840 Leases. ASC 842 is effective for financial statements issued for reporting periods beginning after December 15, 2018, requires a modified retrospective transition, and provides for certain practical expedients; early adoption is permitted. In July 2018, the FASB issued ASU 2018-11- Leases ("Topic 842") – Targeted Improvements, which provides an additional transition method to adopt the new lease standard at the adoption date, as compared to the beginning of the earliest period presented, and recognize a cumulative-effect adjustment to the beginning balance of retained earnings in the period of adoption. The Company adopted ASC 842 effective February 1, 2019, using the alternative transition method under Topic 842. The Company expects that this standard will have a material effect on the Company’s consolidated balance sheets, but does not expect it to have a material impact on the Company's consolidated statements of operations and consolidated income, stockholders’ equity and cash flows. Although the Company is still in the process of evaluating the impact of adoption of ASC 842 on its consolidated financial statements, the Company currently believes the most significant change will be related to the recognition of right-of-use assets and lease liabilities on the Company’s balance sheet for office space and data center operating lease agreements.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments, which requires financial assets measured at amortized cost be presented at the net amount expected to be collected. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted. The Company does not plan to early adopt this ASU. The Company believes the adoption of this ASU will not have a material impact on its consolidated financial statements.

In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, which removes step two from the goodwill impairment test. As a result, an entity should perform its annual goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting units' fair value. This ASU is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the timing of adoption; however, it does not believe this ASU will have a material impact on the Company's consolidated financial statements.

In August 2018, FASB issued ASU 2018-13, Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”), which amends ASC 820, "Fair Value Measurement." ASU 2018-13 modifies the disclosure requirements for fair value measurements by removing, modifying and adding certain disclosures. This ASU is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. As this relates to disclosure only, the Company believes the adoption of this ASU will not have a material impact on its consolidated financial statements.

In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This ASU allows the capitalization of implementation costs incurred in a hosting arrangement. This ASU is effective for fiscal years beginning after December 15, 2019. The Company is currently evaluating the potential effect of this ASU on the consolidated financial statements.

In August 2018, the SEC adopted a final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, that amends certain disclosure requirements that were duplicative, overlapping, outdated or superseded. The amendments also expanded the disclosure requirements relating to stockholders' equity for interim financial statements, to require changes in stockholders’ equity, in the form of reconciliation, for the current and comparative year-to-date periods, with subtotals for each interim period. This final rule was effective on November 5, 2018. As permitted by the SEC, the Company will apply the disclosure change in stockholders’ equity analysis commencing with its Form 10-Q for the fiscal quarter ending April 30, 2019. As this relates to disclosure only, the Company believes the adoption of this rule will not have a material impact on its consolidated financial statements.

Cash, cash equivalents and marketable securities

12 Months Ended

Jan. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Cash, cash equivalents and marketable securities

In January 2019, the Company sold all the marketable securities it previously held. Cash, cash equivalents as of January 31, 2019 consisted of the following:



(in thousands)	Cost basis		Gross unrealized gains		Gross unrealized losses		Fair value
Cash and cash equivalents	$	361,475	$	—	$	—	$	361,475
Marketable securities:
Mutual funds	—		—		—		—
Total cash, cash equivalents and marketable securities	$	361,475	$	—	$	—	$	361,475

Cash, cash equivalents and marketable securities as of January 31, 2018 consisted of the following:



(in thousands)	Cost basis		Gross unrealized gains		Gross unrealized losses			Fair value
Cash and cash equivalents	$	199,472	$	—	$	—		$	199,472
Marketable securities:
Mutual funds	41,153		270		(626		)	40,797
Total cash, cash equivalents and marketable securities	$	240,625	$	270	$	(626	)	$	240,269

Gross gains and losses realized during the year ended January 31, 2019 for marketable securities sold as of January 31, 2019 was $0.4 million and $0.9 million, respectively, of which a $0.1 million current year net realized loss was recorded to other expense, net in the consolidated statements of operations and comprehensive income and a $0.4 million of prior cumulative net realized loss was recorded in accumulated earnings on February 1, 2018 due to the adoption of ASU 2016-01.

Intangible assets and goodwill

12 Months Ended

Jan. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets and goodwill

Asset acquisitions

During the years ended January 31, 2019 and 2018, the Company capitalized the following amounts to acquire the rights to be the custodian of HSA portfolios:



(in thousands)	January 31, 2019		January 31, 2018
Acquired HSA intangible member assets	$	1,195	$	18,953

The costs, including transaction costs, were allocated to the respective acquired intangible member assets. The Company has determined the acquired intangible member assets to have a useful life of 15 years. The assets are being amortized using the straight-line amortization method, which has been determined appropriate to reflect the pattern over which the economic benefits of existing member assets are realized.

During the year ended January 31, 2018, $1.3 million of the of the acquired intangible assets relates to a contingent payment that may be earned upon the achievement of certain targets. This amount is expected to be paid during the year ended January 31, 2020.

Software development

During the years ended January 31, 2019, 2018 and 2017, the Company capitalized software development costs of $9.3 million, $8.1 million and $7.7 million, respectively, related to significant enhancements and upgrades to its proprietary system.

The gross carrying amount and associated accumulated amortization of intangible assets is as follows as of January 31, 2019 and January 31, 2018:



(in thousands)	January 31, 2019			January 31, 2018
Amortized intangible assets:
Capitalized software development costs	$	40,583		$	31,993
Software	4,252			8,863
Other intangible assets	2,882			2,882
Acquired intangible member assets	85,110			83,915
Intangible assets, gross	132,827			127,653
Accumulated amortization	(53,161		)	(44,018		)
Intangible assets, net	$	79,666		$	83,635

During the years ended January 31, 2019, 2018 and 2017, the Company expensed a total of $13.7 million, $12.2 million and $10.0 million, respectively, in software development costs primarily related to the post-implementation and operation stages of its proprietary software.

Amortization expense for the years ended January 31, 2019, 2018 and 2017 was $14.7 million, $13.2 million and $11.2 million, respectively. Estimated amortization expense for the years ending January 31 is as follows:



Year ending January 31, (in thousands)
2020	$	13,824
2021	10,706
2022	7,930
2023	6,209
2023	6,209
Thereafter	34,788
Total	$	79,666

During the year ended January 31, 2019, the Company incurred a loss on disposal of approximately $0.7 million of previously capitalized software development costs.

All of the Company’s goodwill was generated from the acquisition of First Horizon MSaver, Inc. on August 11, 2011. There have been no changes to the goodwill carrying value during the years ended January 31, 2019 and 2018.

Commitments and contingencies

12 Months Ended

Jan. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and contingencies

Property, colocation, equipment, and license agreements

The Company leases office space, data storage facilities and equipment, as well as contractual commitments related to network infrastructure and certain maintenance requirements under long-term non-cancelable operating leases. Future minimum lease and other contractual payments required under non-cancelable obligations as of January 31, 2019 are as follows:



Year ending January 31, (in thousands)	Office lease		Other agreements		Total
2020	$	3,690	$	3,568	$	7,258
2021	3,933		3,392		7,325
2022	5,589		1,739		7,328
2023	5,728		70		5,798
2024	5,872		11		5,883
Thereafter	44,252		—		44,252
Total	$	69,064	$	8,780	$	77,844

Office lease obligations

The Company’s headquarters is in Draper, UT where it leases two buildings and is party to a third lease for a building to be constructed on a parcel contiguous to its existing buildings. The leases will expire on November 30, 2030. The Company is responsible for payment of taxes and operating expenses relating to the premises occupied by the Company, in addition to 2.5% annual rent increases over the lease term. The Company also leases office space in Overland Park, Kansas, under a lease that expires in March 2022.

Lease expense for office space for the years ended January 31, 2019, 2018 and 2017 totaled $5.5 million, $4.3 million and $3.3 million, respectively. Expense for other agreements for the years ended January 31, 2019, 2018 and 2017 totaled $0.6 million, $0.5 million and $0.3 million, respectively.

Data storage and equipment lease obligations

The data storage and equipment leases relate to the Company's offsite data storage facilities and office equipment leases, which expire during the years ended January 31, 2021 and January 31, 2024, respectively.

Telephony services

The telephony service agreement relates to our 24/7/365 member support center. The agreement expires in September 2019. In January 2019, the Company entered into a telephony agreement with a new provider that is cancelable without significant penalty.

Processing services agreement

During the year ended January 31, 2016, the Company amended its merchant processing services agreement with a vendor. The agreement expires December 31, 2020 and requires the Company to pay a dollar minimum processing fee based on the processing year of the agreement. The Company may terminate the agreement beginning January 1, 2020 by providing 180 days’ written notice.

If the processing agreement is terminated prior to December 31, 2020, the Company is required to pay the vendor a termination fee, equal to 75% of the aggregate value of the minimum processing fees for the remaining years of the agreement, plus a portion of the account on-boarding incentive fee.

For each of the years ended January 31, 2019, 2018 and 2017, the Company exceeded the minimum amounts required under the agreement.

The Company has an agreement with an entity for access to its software. The agreement contains minimum required payments. The Company also has agreements with several entities for access to technology and software. The agreements are based on usage, and there are no minimum required monthly payments.

Contingencies

In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and provide for general indemnifications. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future, but have not yet been made. The Company accrues a liability for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated.

Indemnification

In accordance with the Company’s amended and restated Certificate of Incorporation and amended and restated bylaws, the Company has indemnification obligations to its officers and directors for certain events or occurrences, subject to certain limits, while they are serving at the Company’s request in such capacity. There have been no claims to date and the Company has a director and officer insurance policy that may enable it to recover a portion of any amounts paid for future claims.

Litigation

The Company may from time to time be involved in legal proceedings arising from the normal course of business. There are no material pending or threatened legal proceedings as of January 31, 2019 and 2018.

Indebtedness	12 Months Ended
Indebtedness	Jan. 31, 2019
Debt Disclosure [Abstract]
Indebtedness	Indebtedness On September 30, 2015, the Company entered into a credit facility (the "Credit Agreement"). The Credit Agreement provides for a secured revolving credit facility in the aggregate principal amount of $100.0 million for a term of five years. The proceeds of borrowings under the Credit Agreement may be used for general corporate purposes. No amounts have been drawn under the Credit Agreement as of January 31, 2019. Borrowings under the Credit Agreement bear interest equal to, at the Company's option, a) an adjusted LIBOR rate or b) a customary base rate, in each case with an applicable spread to be determined based on the Company's leverage ratio as of the most recent fiscal quarter. The applicable spread for borrowing under the Credit Agreement will range from 1.50% to 2.00% with respect to adjusted LIBOR rate borrowings and 0.50% to 1.00% with respect to customary base rate borrowings. Additionally, the Company pays a commitment fee ranging from 0.20% to 0.30% on the daily amount of the unused commitments under the Credit Agreement payable in arrears at the end of each fiscal quarter. During each of the years ended January 31, 2019 and 2018, the Company incurred $0.3 million of interest expense associated with the Credit Agreement. The Company's material subsidiaries are required to guarantee the obligations of the Company under the Credit Agreement. The obligations of the Company and the guarantors under the Credit Agreement and the guarantees are secured by substantially all assets of the Company and the guarantors, subject to customary exclusions and exceptions. The Credit Agreement requires the Company to maintain a total leverage ratio of not more than 3.00 to 1.00 as of the end of each fiscal quarter and a minimum interest coverage ratio of at least 3.00 to 1.00 as of the end of each fiscal quarter. In addition, the Credit Agreement includes customary representations and warranties, affirmative and negative covenants, and events of default. The restrictive covenants include customary restrictions on the Company's ability to incur additional indebtedness; make investments, loans or advances; grant or incur liens on assets; engage in mergers, consolidations, liquidations or dissolutions; engage in transactions with affiliates; and make dividend payments. The Company was in compliance with these covenants as of January 31, 2019. In connection with the Credit Agreement, the Company incurred $0.3 million in financing costs, which are deferred and are being amortized using the straight-line method, which approximates the effective interest method, over the life of the agreement.

Income taxes

12 Months Ended

Jan. 31, 2019

Income Tax Disclosure [Abstract]

Income taxes

ome tax provision consisted of the following:



	Year ended January 31,
(in thousands)	2019			2018		2017
Current:
Federal	$	1,095		$	392	$	14,848
State	416			130		1,823
Total current tax provision	$	1,511		$	522	$	16,671
Deferred:
Federal	$	1,258		$	4,068	$	(2,308	)
State	(850		)	237		(619		)
Total deferred tax (benefit) provision	$	408		$	4,305	$	(2,927	)
Total income tax provision	$	1,919		$	4,827	$	13,744

Total income tax provision differed from the amounts computed by applying the U.S. federal statutory income tax rate to income before income taxes as a result of the following:



	Year ended January 31,
(in thousands)	2019			2018			2017
Federal income tax provision at the statutory rate	$	15,922		$	17,744		$	13,641
State income tax provision, net of federal tax benefit	1,518			1,241			742
Non-deductible or non-taxable items	411			143			87
Excess tax benefits on stock-based compensation expense, net	(14,255		)	(14,136		)	—
Federal research and development credit	(2,252		)	(729		)	(907		)
Deferred tax rate adjustment due to tax reform	—			458			—
Current statutory rate differential due to tax reform	—			(308		)	—
Change in uncertain tax position reserves, net of indirect benefits	450			191			246
Other items, net	125			223			(65		)
Total income tax provision	$	1,919		$	4,827		$	13,744

The Company’s effective income tax rate for the years ended January 31, 2019, 2018 and 2017 was 2.5%, 9.2%, and 34.3%, respectively. The difference between the effective income tax rate and the U.S. federal statutory income tax rate each period is impacted by a number of factors, including the relative mix of earnings among state jurisdictions, credits, excess tax benefits or shortfalls on stock-based compensation expense due to the adoption of ASU 2016-09, and other discrete items. The decrease in the effective tax rate for the year ended January 31, 2019 over the year ended January 31, 2018 was primarily due to the reduction in the US federal corporate income tax rate from 35% to 21% as a result of legislative changes effective January 1, 2018 and an increase in federal and state research and development tax credits over prior periods. The decrease in the effective tax rate for the year ended January 31, 2018 compared to the year ended January 31, 2017 was primarily the result of excess tax benefits on stock-based compensation expense.

The Tax Cuts and Jobs Act, which was enacted on December 22, 2017, included a reduction of the statutory corporate income tax rate from a top rate of 35% to 21% effective January 1, 2018. The Company is subject to federal and state income taxes in the United States based on a calendar year which differs from its January fiscal year-end for financial reporting purposes. For purposes of reconciling the total income tax provision for the fiscal year ended January 31, 2018, the Company applied a federal statutory rate of 34% for the entire fiscal year as that was the rate that applied for the tax year ended December 31, 2017 which comprised 11 months of the fiscal year. Because a 21% federal statutory rate applied for the one month ending January 31, 2018, a reconciling item was included in the tax rate reconciliation table above to adjust for the statutory rate reduction that applied to this one-month period. This resulted in a reduction to the income tax provision of $0.3 million.

Given the significance of the Tax Cuts and Jobs Act, the U.S. Securities and Exchange Commission (the "SEC") staff issued Staff Accounting Bulletin ("SAB") No. 118 (“SAB 118”), which allowed registrants to record provisional amounts during a one-year “measurement period” from the date of enactment of the Tax Cuts and Jobs Act. The measurement period is deemed to have ended earlier when the registrant has obtained, prepared, and analyzed the information necessary to finalize its accounting. During the measurement period, impacts of the law are expected to be recorded at the time a reasonable estimate for all or a portion of the effects can be made, and provisional amounts can be recognized and adjusted as information becomes available, prepared, or analyzed.

SAB 118 summarizes a three-step process to be applied at each reporting period to account for and qualitatively disclose: (1) the effects of the change in tax law for which accounting is complete; (2) provisional amounts (or adjustments to provisional amounts) for the effects of the tax law where accounting is not complete, but that a reasonable estimate has been determined; and (3) a reasonable estimate cannot yet be made and therefore taxes are reflected in accordance with law prior to the enactment of the Tax Cuts and Jobs Act.

The Company remeasured certain deferred tax assets and liabilities as of December 31, 2017 based on rates at which they are expected to reverse in the future, which is generally the new corporate income tax rate of 21% as enacted by the Tax Cuts and Jobs Act. However, the Company's analysis was incomplete as of January 31, 2018 as the Company was still analyzing certain aspects of the Act and refining its calculations, including state conformity and the impact of state tax rates on deferred tax balances, which could potentially affect the measurement of these balances or potentially give rise to new deferred tax amounts. Based on the best information available, the provisional amount recorded related to the remeasurement of the Company's deferred tax balance resulted in a decrease in net deferred tax assets of $0.5 million, with a corresponding increase to the income tax provision during the year ended January 31, 2018. As of January 31, 2019, the Company has not made any additional adjustments following completion of its continued analysis during the one-year measurement period to the provisional amount recorded as of January 31, 2018, which amount is now considered final.

Other significant provisions of the Tax Cuts and Jobs Act were effective as of January 1, 2018, including, but not limited to: the limitation on the current deductibility of net interest expense in excess of 30% of adjusted taxable income, changes in the deductibility of certain meals and entertainment business expenses, and changes in the deductibility of certain excessive employee remuneration. The Company has applied these provisions to its current income tax provision as it relates to its tax return period beginning January 1, 2018 using reasonable interpretations and available guidance. Further guidance or technical corrections may affect the application of these provisions on its income tax provision.

Deferred tax assets and liabilities consisted of the following:



(in thousands)	January 31, 2019			January 31, 2018
Deferred tax assets:
Accrued bonuses	$	808		$	489
Other accrued liabilities	664			572
Deferred rent	626			520
Stock compensation	6,987			5,316
Net operating loss carryforward	68			666
Research and development credits	2,323			2,882
AMT credits	—			857
Other, net	255			286
Total gross deferred tax assets	11,731			11,588
Less valuation allowance	(97		)	—
Deferred tax assets, net of valuation allowance	$	11,634		$	11,588
Deferred tax liabilities:
Fixed assets: depreciation and gain/loss	$	(1,294	)	$	(1,170	)
Intangibles: amortization	(4,798		)	(4,830		)
Incremental contract costs	(4,654		)	—
Other, net	(127		)	(127		)
Total gross deferred tax liabilities	(10,873		)	(6,127		)
Net deferred tax assets	$	761		$	5,461

Management considered whether it is more likely than not that some portion or all of the deferred tax assets would be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considered the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment and determined that based on the weight of all available evidence, it is more likely than not (a likelihood of more than 50%) that the Company will be able to realize most of its deferred tax assets. However, the Company has recorded a valuation allowance of $0.1 million as of January 31, 2019 with respect to realized capital losses for which it does not expect to generate capital gains in order to utilize the capital losses in the future. This valuation allowance was reflected as an adjustment to retained earnings as a result of the adoption of ASU 2016-01. No valuation allowance was recorded as of January 31, 2018.

As of January 31, 2019, the Company had recorded gross state net operating loss carryforwards of $1.1 million which begin to expire at various intervals between tax years ending December 31, 2026 and December 31, 2036. As of January 31, 2019, the Company also had federal and state research and development carryforwards of $1.9 million and $2.5 million, respectively, which expire beginning with the tax years ending December 31, 2037 and 2030, respectively.

As of January 31, 2019 and 2018, the gross unrecognized tax benefit was $1.7 million and $0.9 million, respectively. If recognized, $1.5 million and $0.8 million of the total unrecognized tax benefits would affect the Company's effective tax rate as of January 31, 2019 and 2018, respectively. Total gross unrecognized tax benefits increased by $0.8 million in the period from January 31, 2018 to January 31, 2019. A tabular reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:



(in thousands)	January 31, 2019			January 31, 2018
Gross unrecognized tax benefits at beginning of year	$	889		$	674
Gross amounts of increases and decreases:
Increases as a result of tax positions taken during a prior period	—			—
Decreases as a result of tax positions taken during a prior period	(1		)	—
Increases as a result of tax positions taken during the current period	805			215
Decreases as a result of tax positions taken during the current period	—			—
Decreases resulting from the lapse of the applicable statute of limitations	—			—
Gross unrecognized tax benefits at end of year	$	1,693		$	889

Certain unrecognized tax benefits are required to be netted against their related deferred tax assets as a result of Accounting Standards Update No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The resulting unrecognized tax benefit recorded within the Company's consolidated balance sheet excludes the following amounts that have been netted against the related deferred tax assets accordingly:



(in thousands)	January 31, 2019			January 31, 2018
Total gross unrecognized tax benefits	$	1,693		$	889
Amounts netted against related deferred tax assets	(1,693		)	(889		)
Unrecognized tax benefits recorded on the consolidated balance sheet	$	—		$	—

The Company’s policy is to recognize interest and penalties related to unrecognized tax benefits as a component of other expense in the statement of operations and comprehensive income. During the years ended January 31, 2019, 2018, and 2017, there were no interest and penalties recorded related to unrecognized tax benefits in the statement of operations and comprehensive income. As of January 31, 2019 and 2018, no accrued interest and penalties were recorded.

The Company files income tax returns with U.S. federal and state taxing jurisdictions and is not currently under examination with any jurisdiction. The Company remains subject to examination by federal and various state taxing jurisdictions for tax years after 2003.

Stock-based compensation

12 Months Ended

Jan. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-based compensation

The following table shows a summary of stock-based compensation in the Company's consolidated statements of operations and comprehensive income during the years presented:



	Year ended January 31,
(in thousands)	2019		2018		2017
Cost of revenue	$	2,837	$	2,594	$	1,780
Sales and marketing	3,536		2,030		914
Technology and development	5,117		3,318		1,903
General and administrative	9,567		6,368		3,801
Total stock-based compensation expense	$	21,057	$	14,310	$	8,398

The following table shows stock-based compensation by award type:



	Year ended January 31,
(in thousands)	2019		2018		2017
Stock options	$	7,581	$	7,826	$	6,480
Performance stock options	681		1,378		1,685
Restricted stock units	7,657		3,224		233
Performance restricted stock units	2,419		1,882		—
Restricted stock awards	570		—		—
Performance restricted stock awards	2,149		—		—
Total stock-based compensation expense	$	21,057	$	14,310	$	8,398

Stock options

The Company currently grants stock options under the 2014 Equity Incentive Plan (as amended and restated, the "Incentive Plan"), which provided for the issuance of stock options to the directors and team members of the Company to purchase up to an aggregate of 2.6 million shares of common stock.

In addition, under the Incentive Plan, the number of shares of common stock reserved for issuance under the Incentive Plan automatically increases on February 1 of each year, beginning as of February 1, 2015 and continuing through and including February 1, 2024, by 3% of the total number of shares of the Company’s capital stock outstanding on January 31 of the preceding fiscal year, or a lesser number of shares determined by the board of directors. As of January 31, 2019, 4.1 million shares were available for grant under the Incentive Plan.

Under the terms of the Incentive Plan, the Company has the ability to grant incentive and nonqualified stock options. Incentive stock options may be granted only to Company team members. Nonqualified stock options may be granted to Company team members, executive officers, directors and consultants. Such options are to be exercisable at prices, as determined by the board of directors, which must be equal to no less than the fair value of the Company's common stock at the date of the grant. Stock options granted under the Incentive Plan generally expire 10 years from the date of issuance, or are forfeited 90 days after termination of employment. Shares of common stock underlying stock options that are forfeited or that expire are returned to the Incentive Plan.

Valuation assumptions. The Company has adopted the provisions of Topic 718, which requires the measurement and recognition of compensation for all stock-based awards made to team members, executive officers and directors, based on estimated fair values.

Under Topic 718, the Company uses the Black-Scholes option pricing model as the method of valuation for stock-based awards. The determination of the fair value of stock-based awards on the date of grant is affected by the fair value of the stock as well as assumptions regarding a number of complex and subjective variables. The variables include, but are not limited to, 1) the expected life of the option, 2) the expected volatility of the fair value of the Company's common stock over the term of the award estimated by averaging the Company's historical volatility in addition to published volatilities of a relative peer group 3) risk-free interest rate, and 4) expected dividends.

The key input assumptions that were utilized in the valuation of the stock options granted during the years ended January 31, 2019, 2018 and 2017 are as follows:



	Year ended January 31,
	2019		2018		2017
Expected dividend yield	—	%	—	%	—	%
Expected stock price volatility	36.53% - 37.84%		37.79% - 38.01%		38.01% - 38.37%
Risk-free interest rate	2.52% - 2.79%		1.18% - 2.07%		1.18% - 2.18%
Expected life of options	5.17 - 6.25 years		4.50 - 6.25 years		4.50 - 6.25 years

The Company uses the "simplified" method to estimate the expected life of an option as determined under Staff Accounting Bulletin No. 110 due to limited option exercise history as a public company. Expected volatility is determined using weighted average volatility of publicly traded peer companies. During the year ended January 31, 2019, the Company began using its own historical volatility in addition to the volatility of publicly traded peer companies, as its share price history grows over time. The risk-free interest rate is determined by using published zero coupon rates on treasury notes for each grant date given the expected term on the options. The dividend yield of zero is based on the fact that the Company expects to invest cash in operations.

A summary of stock option activity is as follows:



	Outstanding stock options
(in thousands, except for exercise prices and term)	Number of options		Range of exercise prices	Weighted- average exercise price		Weighted- average contractual term (in years)	Aggregate intrinsic value
Outstanding as of January 31, 2018	3,699		$0.10 - 51.44	$	22.83	7.26	$	102,796
Granted	140		$50.41 - 82.39	$	64.06
Exercised	(1,276	)	$0.10 - 44.53	$	17.97
Forfeited	(119	)	$14.00 - 44.53	$	30.50
Outstanding as of January 31, 2019	2,444		$0.10 - 82.39	$	27.37	6.74	$	85,971
Vested and expected to vest as of January 31, 2019	2,444			$	27.37	6.74	$	85,971
Exercisable as of January 31, 2019	843			$	23.19	6.28	$	33,023

The aggregate intrinsic value in the tables above represents the difference between the estimated fair value of common stock and the exercise price of outstanding, in-the-money stock options.

A summary of stock options granted and exercised is as follows:



	Year ended January 31,
(in thousands, except weighted-average fair value)	2019		2018		2017
Stock options granted	140		420		1,399
Weighted-average fair value at date of grant	$	64.06	$	42.72	$	28.85
Total intrinsic value of stock options exercised	$	65,463	$	44,823	$	50,094

As of January 31, 2019 and 2018, 0.8 million and 1.1 million of all outstanding options were exercisable, respectively. The options are valued at their estimated fair market value as of the date of the grant.

As of January 31, 2019, the weighted-average vesting period of non-vested awards expected to vest is approximately 1.6 years; the amount of compensation expense the Company expects to recognize for stock options vesting in future periods is approximately $11.6 million.

Performance options. During the year ended January 31, 2015, the Company granted 1.5 million performance-based stock options to certain key team members and executive officers under the Incentive Plan, which vest upon the achievement of certain performance criteria. The performance-based stock options vest upon the attainment of the following performance criteria: (a) 10% of the stock options vest upon attainment of at least $34.5 million in Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") for the year ended January 31, 2016, (b) 20% of the stock options vest upon the attainment of an annual growth rate of Adjusted EBITDA per share of common stock of 30% for the year ended January 31, 2017, (c) 30% of the stock options vest upon the attainment of an annual growth rate of Adjusted EBITDA per share of common stock of 30% for the year ended January 31, 2018, and (d) 40% of the stock options vest upon the attainment of an annual growth rate of Adjusted EBITDA per share of common stock of 25% for the year ended January 31, 2019. During the year ended January 31, 2016, the Company achieved the $34.5 million Adjusted EBITDA performance criteria and as such, 10% of the performance-based stock options outstanding as of January 31, 2016 became vested. During the year ended January 31, 2017, the Company achieved the annual growth rate of Adjusted EBITDA per share of common stock of 30% and as such 20% of the performance-based stock options outstanding as January 31, 2017 became vested. Subsequent to the year ended January 31, 2017, the two remaining vesting criteria were amended to vest based upon the attainment of a compound annual growth rate of Adjusted EBITDA per share of common stock of 35% as compared to the year ended January 31, 2016 Adjusted EBTIDA target of $34.5 million, or $0.61 per common share. During the year ended January 31, 2018, the Company achieved the third performance criteria and as such 30% of the performance-based stock options outstanding as of January 31, 2018 became vested. During the year ended January 31, 2019, the Company achieved the fourth performance criteria and as such the remaining 40% of the performance-based stock options outstanding as of January 31, 2019 became vested.

Restricted stock units and restricted stock awards

The Company grants restricted stock units ("RSUs") and restricted stock awards ("RSAs") to certain team members, executive officers, and directors under the Incentive Plan. RSUs and RSAs vest upon service-based criteria and performance-based criteria. Generally, service-based RSUs and RSAs vest over a four-year period in equal annual installments commencing upon the first anniversary of the grant date. RSUs and RSAs are valued based on the current value of the Company's closing stock price on the date of grant less the present value of future expected dividends discounted at the risk-free interest rate.

Performance restricted stock units. In March 2017, the Company awarded 146,964 performance-based RSUs ("PRSUs"). Vesting of the PRSUs is dependent upon the achievement of certain financial criteria and cliff vest on January 31, 2020. The Company records stock-based compensation related to PRSUs when it is considered probable that the performance conditions will be met. The Company believes it is probable that the PRSUs will vest at least in part. The vesting of PRSUs will ultimately range from 0% to 150% of the number of shares underlying the PRSU grant based on the level of achievement of the performance goals.

Performance restricted stock awards. In March 2018, the Company awarded 227,760 performance-based RSAs ("PRSAs"). Vesting of the PRSAs is dependent upon the achievement of certain financial criteria and cliff vest on January 31, 2021. The Company records stock-based compensation related to PRSAs when it is considered probable that the performance conditions will be met. Issuance of the underlying shares occurred at the grant date. The Company believes it is probable that the PRSAs will vest at least in part. The vesting of PRSAs will ultimately range from 0% to 200% based on the level of achievement of the performance goals. The PRSAs were issued at the 200% level of achievement subject to clawback based on actual Company performance.

A summary of the RSU and RSA activity is as follows:



	RSUs and PRSUs				RSAs and PRSAs
(in thousands, except weighted-average grant date fair value)	Shares		Weighted-average grant date fair value		Shares		Weighted-average grant date fair value
Outstanding as of January 31, 2018	451		$	44.10	—		$	—
Granted	321		67.69		275		61.92
Vested	(88	)	46.35		—		—
Forfeited	(36	)	49.00		(19	)	61.72
Outstanding as of January 31, 2019	648		$	55.20	256		$	61.93

During the years ended January 31, 2019, 2018 and 2017 the aggregate intrinsic value of RSUs vested was $6.4 million, $0.7 million, and $21,000 respectively.

Total unrecorded stock-based compensation expense as of January 31, 2019 associated with RSUs and PRSUs was $25.9 million, which is expected to be recognized over a weighted-average period of 2.5 years. Total unrecorded stock-based compensation expense as of January 31, 2019 associated with RSAs and PRSAs was $7.2 million, which is expected to be recognized over a weighted-average period of 2.4 years.

Fair value

12 Months Ended

Jan. 31, 2019

Fair Value Disclosures [Abstract]

Fair value

Fair value measurements—Fair value measurements are made at a specific point in time, based on relevant market information. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Accounting standards specify a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs have created the following fair value hierarchy:


•	Level 1—quoted prices in active markets for identical assets or liabilities;


•	Level 2—inputs, other than the quoted prices in active markets, that are observable either directly or indirectly;


•	Level 3—unobservable inputs based on the Company’s own assumptions.

In January 2019, the Company sold all marketable securities, which were classified as Level 1 instruments that consisted primarily of highly liquid mutual funds.

The following table summarizes as of January 31, 2018 the assets measured at fair value on a recurring basis and indicates the level within the fair value hierarchy reflecting the valuation techniques utilized to determine fair value:



	January 31, 2018
(in thousands)	Level 1		Level 2		Level 3
Marketable securities:
Mutual funds	$	40,797	$	—	$	—

The carrying value of cash and cash equivalents approximate fair values as of January 31, 2019 due to the short-term nature of these instruments. The Company has classified cash and cash equivalents as Level 1 in the fair value hierarchy.

- 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

Employee benefits	12 Months Ended
Employee benefits	Jan. 31, 2019
Retirement Benefits [Abstract]
Employee benefits	Employee benefits The Company has established a 401(k) plan that qualifies as a deferred compensation arrangement under Section 401 of the IRS Code. All team members over the age of 21 are eligible to participate in the plan. The plan provides for Company matching of employee contributions up to 3.5% of eligible earnings. Employer contributions vest 25% each year of employment. 401(k) plan administrative expense was $25,000, $25,000 and $15,000 for the years ended January 31, 2019, 2018 and 2017, respectively. Employer matching contribution expense was $1.8 million, $1.4 million and $0.9 million for the years ended January 31, 2019, 2018 and 2017, respectively. Beginning on January 1, 2017, the Company is self-insured for medical and dental benefits for all qualifying employees. The medical plan carries a stop-loss policy which will protect from individual claims during the plan year exceeding $110,000. The Company records estimates of costs of claims incurred based on an analysis of historical data and independent estimates. The Company's liability for self-insured medical claims is included in accrued compensation in its consolidated balance sheet and was $1.4 million and $1.7 million as of January 31, 2019 and 2018, respectively.

Supplementary quarterly financial data (unaudited)

12 Months Ended

Jan. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Supplementary quarterly financial data (unaudited)



	Three months ended
(in thousands, except for per share amounts)	January 31, 2019			October 31, 2018			July 31, 2018			April 30, 2018
Total revenue	$	75,777		$	70,495		$	71,067		$	69,904
Total cost of revenue	31,332			24,678			24,492			25,548
Gross profit	44,445			45,817			46,575			44,356
Total operating expenses	27,864			26,831			25,012			23,816
Total other expense	(221		)	(1,555		)	(75		)	(1		)
Income tax provision (benefit)	3,241			1,745			(1,029		)	(2,038		)
Net income	$	13,119		$	15,686		$	22,517		$	22,577
Net income per share:
Basic ⁽¹⁾	$	0.21		$	0.25		$	0.36		$	0.37
Diluted ⁽¹⁾	$	0.21		$	0.25		$	0.36		$	0.36

	Three months ended
(in thousands, except for per share amounts)	January 31, 2018			October 31, 2017			July 31, 2017			April 30, 2017
Total revenue	$	60,436		$	56,789		$	56,879		$	55,421
Total cost of revenue	28,790			23,062			21,077			21,680
Gross profit	31,646			33,727			35,802			33,741
Total operating expenses	23,212			20,165			19,307			17,814
Total other expense	(1,706		)	(395		)	(38		)	(90		)
Income tax provision (benefit)	823			2,685			(489		)	1,808
Net income	$	5,905		$	10,482		$	16,946		$	14,029
Net income per share:
Basic ⁽¹⁾	$	0.10		$	0.17		$	0.28		$	0.23
Diluted ⁽¹⁾	$	0.09		$	0.17		$	0.27		$	0.23

(1) Net income per share amounts do not sum to equal full year total due to changes in the number of shares outstanding during the periods and rounding.

Summary of business and significant accounting policies (Policies)

12 Months Ended

Jan. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Principles of consolidation

All significant intercompany balances and transactions have been eliminated.

Segments

Cash and cash equivalents

Accounts receivable

Accounts receivable represent monies due to the Company for monthly service revenue, custodial revenue and interchange revenue.

Investments

Other assets

Property and equipment



Computer equipment	3-5 years
Furniture and fixtures	5 years

Capitalized software development costs

Intangible assets, net



Computer software and capitalized software development costs	3 years
401(k) customer relationships	10 years
Acquired HSA intangible member assets	15 years

Goodwill

The Company’s annual goodwill impairment test resulted in no impairment charges in any of the periods presented in the accompanying consolidated financial statements.

Self insurance

Other long-term liabilities

Revenue recognition

The cumulative effect of the changes made to the Company's consolidated balance sheet as of February 1, 2018 for the adoption of ASC 606 is as follows:



(in thousands)	January 31, 2018		Adjustments			February 1, 2018
Other current assets	$	3,310	$	1,366		$	4,676
Deferred tax asset	5,461		(4,187		)	1,274
Other assets	2,180		15,847			18,027
Deferred tax liability	—		18			18
Accumulated earnings	$	85,300	$	13,007		$	98,307

The impact of adoption on the Company's consolidated statement of operations and comprehensive income for the year ended January 31, 2019 is as follows:



(in thousands)	As reported		Without adoption of ASC 606		Effect of change higher (lower)
Sales and marketing	$	29,498	$	31,335	$	(1,837	)
Income from operations	77,670		75,833		1,837
Income tax provision	1,919		1,470		449
Net income	$	73,899	$	72,511	$	1,388

The impact of adoption on the Company's consolidated balance sheet as of January 31, 2019 is as follows:



(in thousands)	As reported		Without adoption of ASC 606		Effect of change higher (lower)
Other current assets	$	7,534	$	5,815	$	1,719
Deferred tax asset	1,677		5,415		(3,738		)
Other assets	21,122		3,790		17,332
Deferred tax liability	916		—		916
Accumulated earnings	$	171,850	$	157,455	$	14,395

The Company determines revenue recognition through the following steps:


•	identification of the contract, or contracts, with a customer;


•	identification of the performance obligations in the contract;


•	determination of the transaction price;


•	allocation of the transaction price to the performance obligations in the contract; and


•	recognition of revenue when, or as, we satisfy a performance obligation.

Cost of revenue

Stock-based compensation

Upon the exercise of a stock option or release of an RSU/RSA, common shares are issued from authorized, but not outstanding, common stock.

Income tax provision

Comprehensive income

Asset acquisitions and Business combination

Asset acquisitions

Business combination

Concentration of market risk

Concentration of credit risk

Interest rate risk

Use of estimates

Recent adopted and issued accounting pronouncements

Recent adopted accounting pronouncements

Adoption of ASC 606

Adoption of ASU 2016-01



(in thousands)	January 31, 2018			Adjustments			February 1, 2018
Deferred tax asset	$	5,461		$	(87	)	$	5,374
Accumulated other comprehensive loss	$	(269	)	$	269		$	—
Accumulated earnings	$	85,300		$	(356	)	$	84,944

The impact of the adoption on the Company's consolidated financial statements for the year ended January 31, 2019 was not significant.

Adoption of ASU 2018-02

Adoption of ASU 2016-16

Adoption of ASU 2016-15

Adoption of ASU 2017-09

Recent issued accounting pronouncements

Summary of business and significant accounting policies (Tables)

12 Months Ended

Jan. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of estimated useful life of property and equipment

The useful life used for computing depreciation for all other asset classes is described below:



Computer equipment	3-5 years
Furniture and fixtures	5 years

Property and equipment consisted of the following as of January 31, 2019 and 2018:



(in thousands)	January 31, 2019			January 31, 2018
Leasehold improvements	$	3,583		$	2,292
Furniture and fixtures	4,476			4,785
Computer equipment	9,242			8,174
Property and equipment, gross	17,301			15,251
Accumulated depreciation	(9,078		)	(7,415		)
Property and equipment, net	$	8,223		$	7,836

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The cumulative effect of the changes made to the Company's consolidated balance sheet as of February 1, 2018 due to the adoption of ASU 2016-01 were as follows:



(in thousands)	January 31, 2018			Adjustments			February 1, 2018
Deferred tax asset	$	5,461		$	(87	)	$	5,374
Accumulated other comprehensive loss	$	(269	)	$	269		$	—
Accumulated earnings	$	85,300		$	(356	)	$	84,944

The cumulative effect of the changes made to the Company's consolidated balance sheet as of February 1, 2018 for the adoption of ASC 606 is as follows:



(in thousands)	January 31, 2018		Adjustments			February 1, 2018
Other current assets	$	3,310	$	1,366		$	4,676
Deferred tax asset	5,461		(4,187		)	1,274
Other assets	2,180		15,847			18,027
Deferred tax liability	—		18			18
Accumulated earnings	$	85,300	$	13,007		$	98,307

The impact of adoption on the Company's consolidated statement of operations and comprehensive income for the year ended January 31, 2019 is as follows:



(in thousands)	As reported		Without adoption of ASC 606		Effect of change higher (lower)
Sales and marketing	$	29,498	$	31,335	$	(1,837	)
Income from operations	77,670		75,833		1,837
Income tax provision	1,919		1,470		449
Net income	$	73,899	$	72,511	$	1,388

The impact of adoption on the Company's consolidated balance sheet as of January 31, 2019 is as follows:



(in thousands)	As reported		Without adoption of ASC 606		Effect of change higher (lower)
Other current assets	$	7,534	$	5,815	$	1,719
Deferred tax asset	1,677		5,415		(3,738		)
Other assets	21,122		3,790		17,332
Deferred tax liability	916		—		916
Accumulated earnings	$	171,850	$	157,455	$	14,395

Schedule of Finite-Lived Intangible Assets

The useful life used for computing amortization for all intangible asset classes is described below:



Computer software and capitalized software development costs	3 years
401(k) customer relationships	10 years
Acquired HSA intangible member assets	15 years

During the years ended January 31, 2019 and 2018, the Company capitalized the following amounts to acquire the rights to be the custodian of HSA portfolios:



(in thousands)	January 31, 2019		January 31, 2018
Acquired HSA intangible member assets	$	1,195	$	18,953

The gross carrying amount and associated accumulated amortization of intangible assets is as follows as of January 31, 2019 and January 31, 2018:



(in thousands)	January 31, 2019			January 31, 2018
Amortized intangible assets:
Capitalized software development costs	$	40,583		$	31,993
Software	4,252			8,863
Other intangible assets	2,882			2,882
Acquired intangible member assets	85,110			83,915
Intangible assets, gross	132,827			127,653
Accumulated amortization	(53,161		)	(44,018		)
Intangible assets, net	$	79,666		$	83,635

Intangible assets and goodwill (Tables)

12 Months Ended

Jan. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

The useful life used for computing amortization for all intangible asset classes is described below:



Computer software and capitalized software development costs	3 years
401(k) customer relationships	10 years
Acquired HSA intangible member assets	15 years

During the years ended January 31, 2019 and 2018, the Company capitalized the following amounts to acquire the rights to be the custodian of HSA portfolios:



(in thousands)	January 31, 2019		January 31, 2018
Acquired HSA intangible member assets	$	1,195	$	18,953

The gross carrying amount and associated accumulated amortization of intangible assets is as follows as of January 31, 2019 and January 31, 2018:



(in thousands)	January 31, 2019			January 31, 2018
Amortized intangible assets:
Capitalized software development costs	$	40,583		$	31,993
Software	4,252			8,863
Other intangible assets	2,882			2,882
Acquired intangible member assets	85,110			83,915
Intangible assets, gross	132,827			127,653
Accumulated amortization	(53,161		)	(44,018		)
Intangible assets, net	$	79,666		$	83,635

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated amortization expense for the years ending January 31 is as follows:



Year ending January 31, (in thousands)
2020	$	13,824
2021	10,706
2022	7,930
2023	6,209
2023	6,209
Thereafter	34,788
Total	$	79,666

Income taxes (Tables)

12 Months Ended

Jan. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The income tax provision consisted of the following:



	Year ended January 31,
(in thousands)	2019			2018		2017
Current:
Federal	$	1,095		$	392	$	14,848
State	416			130		1,823
Total current tax provision	$	1,511		$	522	$	16,671
Deferred:
Federal	$	1,258		$	4,068	$	(2,308	)
State	(850		)	237		(619		)
Total deferred tax (benefit) provision	$	408		$	4,305	$	(2,927	)
Total income tax provision	$	1,919		$	4,827	$	13,744

Schedule of Effective Income Tax Rate Reconciliation

Total income tax provision differed from the amounts computed by applying the U.S. federal statutory income tax rate to income before income taxes as a result of the following:



	Year ended January 31,
(in thousands)	2019			2018			2017
Federal income tax provision at the statutory rate	$	15,922		$	17,744		$	13,641
State income tax provision, net of federal tax benefit	1,518			1,241			742
Non-deductible or non-taxable items	411			143			87
Excess tax benefits on stock-based compensation expense, net	(14,255		)	(14,136		)	—
Federal research and development credit	(2,252		)	(729		)	(907		)
Deferred tax rate adjustment due to tax reform	—			458			—
Current statutory rate differential due to tax reform	—			(308		)	—
Change in uncertain tax position reserves, net of indirect benefits	450			191			246
Other items, net	125			223			(65		)
Total income tax provision	$	1,919		$	4,827		$	13,744

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities consisted of the following:



(in thousands)	January 31, 2019			January 31, 2018
Deferred tax assets:
Accrued bonuses	$	808		$	489
Other accrued liabilities	664			572
Deferred rent	626			520
Stock compensation	6,987			5,316
Net operating loss carryforward	68			666
Research and development credits	2,323			2,882
AMT credits	—			857
Other, net	255			286
Total gross deferred tax assets	11,731			11,588
Less valuation allowance	(97		)	—
Deferred tax assets, net of valuation allowance	$	11,634		$	11,588
Deferred tax liabilities:
Fixed assets: depreciation and gain/loss	$	(1,294	)	$	(1,170	)
Intangibles: amortization	(4,798		)	(4,830		)
Incremental contract costs	(4,654		)	—
Other, net	(127		)	(127		)
Total gross deferred tax liabilities	(10,873		)	(6,127		)
Net deferred tax assets	$	761		$	5,461

Schedule of Unrecognized Tax Benefits Roll Forward

A tabular reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:



(in thousands)	January 31, 2019			January 31, 2018
Gross unrecognized tax benefits at beginning of year	$	889		$	674
Gross amounts of increases and decreases:
Increases as a result of tax positions taken during a prior period	—			—
Decreases as a result of tax positions taken during a prior period	(1		)	—
Increases as a result of tax positions taken during the current period	805			215
Decreases as a result of tax positions taken during the current period	—			—
Decreases resulting from the lapse of the applicable statute of limitations	—			—
Gross unrecognized tax benefits at end of year	$	1,693		$	889

Schedule of Unrecognized Tax Benefit Netted Against Deferred Tax Asset

The resulting unrecognized tax benefit recorded within the Company's consolidated balance sheet excludes the following amounts that have been netted against the related deferred tax assets accordingly:



(in thousands)	January 31, 2019			January 31, 2018
Total gross unrecognized tax benefits	$	1,693		$	889
Amounts netted against related deferred tax assets	(1,693		)	(889		)
Unrecognized tax benefits recorded on the consolidated balance sheet	$	—		$	—

Stock-based compensation (Tables)

12 Months Ended

Jan. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of share based compensation recognized

The following table shows a summary of stock-based compensation in the Company's consolidated statements of operations and comprehensive income during the years presented:



	Year ended January 31,
(in thousands)	2019		2018		2017
Cost of revenue	$	2,837	$	2,594	$	1,780
Sales and marketing	3,536		2,030		914
Technology and development	5,117		3,318		1,903
General and administrative	9,567		6,368		3,801
Total stock-based compensation expense	$	21,057	$	14,310	$	8,398

The following table shows stock-based compensation by award type:



	Year ended January 31,
(in thousands)	2019		2018		2017
Stock options	$	7,581	$	7,826	$	6,480
Performance stock options	681		1,378		1,685
Restricted stock units	7,657		3,224		233
Performance restricted stock units	2,419		1,882		—
Restricted stock awards	570		—		—
Performance restricted stock awards	2,149		—		—
Total stock-based compensation expense	$	21,057	$	14,310	$	8,398

Summary of assumptions

The key input assumptions that were utilized in the valuation of the stock options granted during the years ended January 31, 2019, 2018 and 2017 are as follows:



	Year ended January 31,
	2019		2018		2017
Expected dividend yield	—	%	—	%	—	%
Expected stock price volatility	36.53% - 37.84%		37.79% - 38.01%		38.01% - 38.37%
Risk-free interest rate	2.52% - 2.79%		1.18% - 2.07%		1.18% - 2.18%
Expected life of options	5.17 - 6.25 years		4.50 - 6.25 years		4.50 - 6.25 years

Summary of stock options

A summary of stock option activity is as follows:



	Outstanding stock options
(in thousands, except for exercise prices and term)	Number of options		Range of exercise prices	Weighted- average exercise price		Weighted- average contractual term (in years)	Aggregate intrinsic value
Outstanding as of January 31, 2018	3,699		$0.10 - 51.44	$	22.83	7.26	$	102,796
Granted	140		$50.41 - 82.39	$	64.06
Exercised	(1,276	)	$0.10 - 44.53	$	17.97
Forfeited	(119	)	$14.00 - 44.53	$	30.50
Outstanding as of January 31, 2019	2,444		$0.10 - 82.39	$	27.37	6.74	$	85,971
Vested and expected to vest as of January 31, 2019	2,444			$	27.37	6.74	$	85,971
Exercisable as of January 31, 2019	843			$	23.19	6.28	$	33,023

A summary of stock options granted and exercised is as follows:



	Year ended January 31,
(in thousands, except weighted-average fair value)	2019		2018		2017
Stock options granted	140		420		1,399
Weighted-average fair value at date of grant	$	64.06	$	42.72	$	28.85
Total intrinsic value of stock options exercised	$	65,463	$	44,823	$	50,094

Summary of restricted stock activity

A summary of the RSU and RSA activity is as follows:



	RSUs and PRSUs				RSAs and PRSAs
(in thousands, except weighted-average grant date fair value)	Shares		Weighted-average grant date fair value		Shares		Weighted-average grant date fair value
Outstanding as of January 31, 2018	451		$	44.10	—		$	—
Granted	321		67.69		275		61.92
Vested	(88	)	46.35		—		—
Forfeited	(36	)	49.00		(19	)	61.72
Outstanding as of January 31, 2019	648		$	55.20	256		$	61.93

Fair value (Tables)

12 Months Ended

Jan. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of assets measured at fair value on a recurring basis



	January 31, 2018
(in thousands)	Level 1		Level 2		Level 3
Marketable securities:
Mutual funds	$	40,797	$	—	$	—

Supplementary quarterly financial data (unaudited) (Tables)

12 Months Ended

Jan. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information



	Three months ended
(in thousands, except for per share amounts)	January 31, 2019			October 31, 2018			July 31, 2018			April 30, 2018
Total revenue	$	75,777		$	70,495		$	71,067		$	69,904
Total cost of revenue	31,332			24,678			24,492			25,548
Gross profit	44,445			45,817			46,575			44,356
Total operating expenses	27,864			26,831			25,012			23,816
Total other expense	(221		)	(1,555		)	(75		)	(1		)
Income tax provision (benefit)	3,241			1,745			(1,029		)	(2,038		)
Net income	$	13,119		$	15,686		$	22,517		$	22,577
Net income per share:
Basic ⁽¹⁾	$	0.21		$	0.25		$	0.36		$	0.37
Diluted ⁽¹⁾	$	0.21		$	0.25		$	0.36		$	0.36

	Three months ended
(in thousands, except for per share amounts)	January 31, 2018			October 31, 2017			July 31, 2017			April 30, 2017
Total revenue	$	60,436		$	56,789		$	56,879		$	55,421
Total cost of revenue	28,790			23,062			21,077			21,680
Gross profit	31,646			33,727			35,802			33,741
Total operating expenses	23,212			20,165			19,307			17,814
Total other expense	(1,706		)	(395		)	(38		)	(90		)
Income tax provision (benefit)	823			2,685			(489		)	1,808
Net income	$	5,905		$	10,482		$	16,946		$	14,029
Net income per share:
Basic ⁽¹⁾	$	0.10		$	0.17		$	0.28		$	0.23
Diluted ⁽¹⁾	$	0.09		$	0.17		$	0.27		$	0.23

(1) Net income per share amounts do not sum to equal full year total due to changes in the number of shares outstanding during the periods and rounding.

Summary of business and significant accounting policies (Details)	12 Months Ended
	Jan. 31, 2019 USD ($) segment	Jan. 31, 2018 USD ($)	Jan. 31, 2017 USD ($)	Feb. 01, 2018 USD ($)	Jan. 31, 2016 USD ($)
Schedule of Equity Method Investments [Line Items]
Cost method ownership	1.00%				1.00%
Cost method investments	$ 500,000
Number of segments \| segment	1
Account fees receivable	$ 6,300,000	$ 7,900,000
Accounts receivables	13,800,000	9,000,000
Credit card receivables	5,600,000	4,700,000
Allowance for doubtful accounts	125,000	208,000
Finite-Lived Intangible Assets [Line Items]
Gain (loss) on disposal	(700,000)
Class of Stock [Line Items]
Capitalized contract cost	19,100,000
Remaining performance obligation	300,000	400,000
Revenue recognized	200,000
Cash and cash equivalents	361,475,000	199,472,000	$ 139,954,000		$ 83,641,000
Cash covered by insurance	1,000,000
Accounts receivable	$ 25,668,000	21,602,000
HSA Member
Class of Stock [Line Items]
Capitalized contract cost, amortization period	15 years
RA Customer Relationship
Class of Stock [Line Items]
Capitalized contract cost, amortization period	7 years
401(k)
Class of Stock [Line Items]
Capitalized contract cost, amortization period	10 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)	5 years
Adjustments \| Difference between Revenue Guidance in Effect before and after Topic 606
Class of Stock [Line Items]
Capitalized contract cost				$ 17,200,000
Minimum \| Leasehold improvements
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)	3 years
Minimum \| Computer equipment
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)	3 years
Maximum \| Leasehold improvements
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)	5 years
Maximum \| Computer equipment
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)	5 years
Healthbox Inc.
Schedule of Equity Method Investments [Line Items]
Ownership (percentage)	22.00%
Equity method investments	$ 200,000
Other Expense
Class of Stock [Line Items]
Acquisition related expenses	$ 2,100,000	$ 2,200,000	$ 600,000
Developed Technology Rights \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets	3 years
Developed Technology Rights \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets	5 years
401(k) Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets	10 years
Computer Software And Capitalized Software Development Costs
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets	3 years
Acquired HSA Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets	15 years

Summary of business and significant accounting policies - New Accounting Pronouncements (Details) - Accounting Standards Update 2018-02 - USD ($) $ in Thousands	Jan. 31, 2018	Feb. 01, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption of accounting standard update		$ 0
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption of accounting standard update	$ 45	45
AOCI Attributable to Parent
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption of accounting standard update	$ (45)	$ (45)

Summary of business and significant accounting policies - Adoption of New Accounting Pronouncements - Balance Sheet Effects (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Feb. 01, 2018	Jan. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other current assets	$ 7,534	$ 4,676	$ 3,525
Deferred tax asset	1,677	1,274	5,461
Other assets	21,122	18,027	2,180
Deferred tax liability	916	18	0
Accumulated earnings	171,850	98,307	85,300
Calculated under Revenue Guidance in Effect before Topic 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other current assets	5,815		3,310
Deferred tax asset	5,415		5,461
Other assets	3,790		2,180
Deferred tax liability	0		0
Accumulated earnings	157,455		$ 85,300
Adjustments \| Difference between Revenue Guidance in Effect before and after Topic 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other current assets	1,719	1,366
Deferred tax asset	(3,738)	(4,187)
Other assets	17,332	15,847
Deferred tax liability	916	18
Accumulated earnings	$ 14,395	$ 13,007

Summary of business and significant accounting policies - Adoption of New Accounting Pronouncements - Statement of Operations Effects (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sales and marketing									$ 29,498	$ 23,139	$ 18,320
Income from operations									77,670	54,418	41,212
Income tax provision	$ 3,241	$ 1,745	$ (1,029)	$ (2,038)	$ 823	$ 2,685	$ (489)	$ 1,808	1,919	4,827	13,744
Net income	$ 13,119	$ 15,686	$ 22,517	$ 22,577	$ 5,905	$ 10,482	$ 16,946	$ 14,029	73,899	$ 47,362	$ 26,376
Calculated under Revenue Guidance in Effect before Topic 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sales and marketing									31,335
Income from operations									75,833
Income tax provision									1,470
Net income									72,511
Adjustments \| Difference between Revenue Guidance in Effect before and after Topic 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sales and marketing									(1,837)
Income from operations									1,837
Income tax provision									449
Net income									$ 1,388

- Definition

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

+ References + Details

Summary of business and significant accounting policies - Schedule Of Deferred Tax Assets (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Feb. 01, 2018	Jan. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax asset	$ 1,677	$ 1,274	$ 5,461
Accumulated other comprehensive loss, net	0		(269)
Accumulated earnings	$ 171,850	98,307	85,300
Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax asset			5,461
Accumulated other comprehensive loss, net			(269)
Accumulated earnings			$ 85,300
Accounting Standards Update 2018-03
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax asset		5,374
Accumulated other comprehensive loss, net		0
Accumulated earnings		84,944
Accounting Standards Update 2018-03 \| Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax asset		(87)
Accumulated other comprehensive loss, net		269
Accumulated earnings		$ (356)

Net income per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Numerator (basic and diluted):
Net income	$ 13,119	$ 15,686	$ 22,517	$ 22,577	$ 5,905	$ 10,482	$ 16,946	$ 14,029	$ 73,899	$ 47,362	$ 26,376
Denominator (basic):
Weighted-average common shares outstanding (shares)									61,836	60,304	58,615
Denominator (diluted):
Weighted-average common shares outstanding (shares)									61,836	60,304	58,615
Weighted-average dilutive effect of stock options and restricted stock units (shares)									1,534	1,550	1,279
Weighted-average common shares outstanding (shares)									63,370	61,854	59,894
Net income per share:
Basic (usd per share)	$ 0.21	$ 0.25	$ 0.36	$ 0.37	$ 0.10	$ 0.17	$ 0.28	$ 0.23	$ 1.20	$ 0.79	$ 0.45
Diluted (usd per share)	$ 0.21	$ 0.25	$ 0.36	$ 0.36	$ 0.09	$ 0.17	$ 0.27	$ 0.23	$ 1.17	$ 0.77	$ 0.44
Antidilutive securities excluded from computation of earnings per share (shares)									100	600	1,400

Cash, cash equivalents and marketable securities (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Debt Securities, Available-for-sale [Line Items]
Cash and cash equivalents, cost basis	$ 361,475	$ 199,472	$ 139,954	$ 83,641
Cash and cash equivalents, fair value	361,475	199,472
Gross unrealized gains	0	270
Gross unrealized losses	0	(626)
Total cash, cash equivalents and marketable securities, cost basis	361,475	240,625
Total cash, cash equivalents and marketable securities	361,475	240,269
Mutual funds
Debt Securities, Available-for-sale [Line Items]
Marketable securities, cost basis	0	41,153
Gross unrealized gains	0	270
Gross unrealized losses	0	(626)
Marketable securities, at fair value	$ 0	$ 40,797

Cash, cash equivalents and marketable securities - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Feb. 01, 2018
Cash and Cash Equivalents [Line Items]
Marketable securities, realized gain (loss)	$ 400	$ 900
Accounting Standards Update 2016-01
Cash and Cash Equivalents [Line Items]
Accumulated earnings			$ 87
Other Expense
Cash and Cash Equivalents [Line Items]
Marketable securities, realized gain (loss)	$ (100)
Accumulated earnings (deficit) \| Accounting Standards Update 2016-01
Cash and Cash Equivalents [Line Items]
Accumulated earnings			$ 356

Property and equipment - Schedule of property and equipment (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Jan. 31, 2018
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 17,301	$ 15,251
Accumulated depreciation	(9,078)	(7,415)
Property and equipment, net	8,223	7,836
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,583	2,292
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,476	4,785
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 9,242	$ 8,174

Intangible assets and goodwill - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Capitalized software development costs	$ 9,300	$ 8,100	$ 7,700
Software development costs incurred and expensed	13,700	12,200	10,000
Amortization expense	14,700	13,200	$ 11,200
Gain (loss) on disposition of intangible assets	(700)
Acquired HSA Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets	$ 1,195	$ 18,953
Acquired finite-lived intangible assets, useful life	15 years
Customer relationships \| Servicing Contracts, Portfolio of HSA Members Two, Custodian
Finite-Lived Intangible Assets [Line Items]
Contingent earn-out payment	$ 1,300

Intangible assets and goodwill - Schedule of finite-lived intangible assets (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Jan. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 132,827	$ 127,653
Accumulated amortization	(53,161)	(44,018)
Intangible assets, net	79,666	83,635
Capitalized software development costs
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	40,583	31,993
Software
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	4,252	8,863
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	2,882	2,882
Acquired intangible member assets
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 85,110	$ 83,915

Intangible assets and goodwill - Schedule for future amortization expense (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Jan. 31, 2018
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2020	$ 13,824
2021	10,706
2022	7,930
2023	6,209
2023	6,209
Thereafter	34,788
Intangible assets, net	$ 79,666	$ 83,635

Commitments and contingencies - Future Minimum Rentals (Details) $ in Thousands	Jan. 31, 2019 USD ($)
Future minimum lease payments
2020	$ 7,258
2021	7,325
2022	7,328
2023	5,798
2024	5,883
Thereafter	44,252
Total	77,844
Office lease
Future minimum lease payments
2020	3,690
2021	3,933
2022	5,589
2023	5,728
2024	5,872
Thereafter	44,252
Total	69,064
Other agreements
Future minimum lease payments
2020	3,568
2021	3,392
2022	1,739
2023	70
2024	11
Thereafter	0
Total	$ 8,780

Commitments and contingencies - Narrative (Details) $ in Millions	12 Months Ended
	Jan. 31, 2019 USD ($) building	Jan. 31, 2018 USD ($)	Jan. 31, 2017 USD ($)
Operating Leased Assets [Line Items]
Number of leases \| building	2
Annual increase in rent (percentage)	2.50%
Written notice required for contract termination (days)	180 days
Contract termination fees, as percentage of minimum processing fees (percentage)	75.00%
Office lease
Operating Leased Assets [Line Items]
Lease expense for office space	$ 5.5	$ 4.3	$ 3.3
Other agreements
Operating Leased Assets [Line Items]
Lease expense for office space	$ 0.6	$ 0.5	$ 0.3

Indebtedness (Details) - Line of Credit - Secured Revolving Credit Facility		12 Months Ended
	Sep. 30, 2015 USD ($)	Jan. 31, 2019 USD ($)	Jan. 31, 2018 USD ($)
Debt Instrument [Line Items]
Secured revolving credit facility, aggregate principal	$ 100,000,000.0
Debt term	5 years
Amounts drawn under Credit Agreement		$ 0
Interest expense		300,000	$ 300,000
Credit facility, deferred finance costs, net		$ 317,000
Minimum
Debt Instrument [Line Items]
Commitment fee		0.20%
Interest coverage ratio		3.00
Minimum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable rate borrowing spread		1.50%
Minimum \| Customary Base Rate
Debt Instrument [Line Items]
Variable rate borrowing spread		0.50%
Maximum
Debt Instrument [Line Items]
Commitment fee		0.30%
Leverage ratio		3.00
Maximum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable rate borrowing spread		2.00%
Maximum \| Customary Base Rate
Debt Instrument [Line Items]
Variable rate borrowing spread		1.00%

Income taxes - Components of Income tax (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Current:
Federal									$ 1,095	$ 392	$ 14,848
State									416	130	1,823
Total current tax provision									1,511	522	16,671
Deferred:
Federal									1,258	4,068	(2,308)
State									(850)	237	(619)
Total deferred tax (benefit) provision									408	4,305	(2,927)
Total income tax provision	$ 3,241	$ 1,745	$ (1,029)	$ (2,038)	$ 823	$ 2,685	$ (489)	$ 1,808	$ 1,919	$ 4,827	$ 13,744

Income taxes - Reconciliation of Income tax (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Income Tax Disclosure [Abstract]
Federal income tax provision at the statutory rate									$ 15,922	$ 17,744	$ 13,641
State income tax provision, net of federal tax benefit									1,518	1,241	742
Non-deductible or non-taxable items									411	143	87
Excess tax benefits on stock-based compensation expense, net									(14,255)	(14,136)	0
Federal research and development credit									(2,252)	(729)	(907)
Deferred tax rate adjustment due to tax reform									0	458	0
Current statutory rate differential due to tax reform									0	(308)	0
Change in uncertain tax position reserves, net of indirect benefits									450	191	246
Other items, net									125	223	(65)
Total income tax provision	$ 3,241	$ 1,745	$ (1,029)	$ (2,038)	$ 823	$ 2,685	$ (489)	$ 1,808	$ 1,919	$ 4,827	$ 13,744

Income taxes (Details) - USD ($)	12 Months Ended
Income taxes (Details) - USD ($)	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Operating Loss Carryforwards [Line Items]
Effective income tax rate	2.50%	9.20%	34.30%
Current statutory rate differential due to tax reform	$ 0	$ 308,000	$ 0
Deferred tax rate adjustment due to tax reform	0	458,000	0
Deferred tax asset, valuation allowance	97,000	0
Total gross unrecognized tax benefits	1,693,000	889,000	674,000
Anticipated decrease in total gross unrecognized tax benefits within 12 months	1,500,000	800,000
Period increase (decrease) in unrecognized tax benefit	800,000
Unrecognized tax benefits, income tax penalties and interest expense	0	0	0
Unrecognized tax benefits, income tax penalties and interest accrued		0	$ 0
Income tax examination, penalties and interest accrued	0	$ 0
December 31, 2025 Through 2036 \| State
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	1,100,000
December 31, 2019 \| Research \| Federal
Operating Loss Carryforwards [Line Items]
Credit carryforward	1,900,000
December 31, 2024 \| Research \| State
Operating Loss Carryforwards [Line Items]
Credit carryforward	$ 2,500,000

Income taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Jan. 31, 2018
Deferred tax assets:
Accrued bonuses	$ 808	$ 489
Other accrued liabilities	664	572
Deferred rent	626	520
Stock compensation	6,987	5,316
Net operating loss carryforward	68	666
Research and development credits	2,323	2,882
AMT credits	0	857
Other, net	255	286
Total gross deferred tax assets	11,731	11,588
Less valuation allowance	(97)	0
Deferred tax asset	11,634	11,588
Deferred tax liabilities:
Fixed assets: depreciation and gain/loss	(1,294)	(1,170)
Intangibles: amortization	(4,798)	(4,830)
Incremental contract costs	(4,654)	0
Other, net	(127)	(127)
Total gross deferred tax liabilities	(10,873)	(6,127)
Net deferred tax asset	$ 761	$ 5,461

Income taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2019	Jan. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Gross unrecognized tax benefits at beginning of year	$ 889	$ 674
Increases as a result of tax positions taken during a prior period	0	0
Decreases as a result of tax positions taken during a prior period	(1)	0
Increases as a result of tax positions taken during the current period	805	215
Decreases as a result of tax positions taken during the current period	0	0
Decreases resulting from the lapse of the applicable statute of limitations	0	0
Gross unrecognized tax benefits at end of year	1,693	889
Gross unrecognized tax benefits at beginning of year	$ 889	$ 674	$ 1,693	$ 889
Amounts netted against related deferred tax assets			(1,693)	(889)
Unrecognized tax benefits recorded on the consolidated balance sheet			$ 0	$ 0

Stock-based compensation (Details) - USD ($) $ in Thousands	12 Months Ended
Stock-based compensation (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	$ 21,057	$ 14,310	$ 8,398
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	2,837	2,594	1,780
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	3,536	2,030	914
Technology and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	5,117	3,318	1,903
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	9,567	6,368	3,801
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	7,581	7,826	6,480
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	681	1,378	1,685
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	7,657	3,224	233
Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	2,419	1,882	0
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	570	0	0
Performance Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	$ 2,149	$ 0	$ 0

Stock-based compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (shares)			2,600,000
Additional shares available for grants as percentage of capital stock outstanding			3.00%
Shares available for grant (shares)			4,100,000
Expiration period after termination			10 years
Expiration period from termination of employment			90 days
Expected dividend yield			0.00%	0.00%	0.00%
Options exercisable (shares)			800,000	1,100,000
Recognition period for stock-based compensation			1 year 7 months
Unrecognized stock compensation expense to be recognized in future			$ 11,600
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)						1,500,000
Performance Shares \| Vesting criteria for FY 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested			10.00%
Minimum adjusted EBITDA to be attained for shares to vest			$ 34,500
Minimum adjusted EBITDA to be attained for shares to vest per share (usd per share)			$ 0.61
Performance Shares \| Vesting criteria for FY 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested			20.00%
Annual growth rate of adjusted EBITDA per share of common stock to be achieved for options to vest			30.00%
Performance Shares \| Vesting criteria for FY 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested			30.00%
Annual growth rate of adjusted EBITDA per share of common stock to be achieved for options to vest			30.00%
Performance Shares \| Vesting criteria subsequent to FY 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual growth rate of adjusted EBITDA per share of common stock to be achieved for options to vest			35.00%
Performance Shares \| Vesting criteria for FY 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested			40.00%
Annual growth rate of adjusted EBITDA per share of common stock to be achieved for options to vest			25.00%
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognition period for stock-based compensation			2 years 6 months
Granted (in shares)			321,000
Aggregate intrinsic value			$ 6,400	$ 700	$ 21
Compensation not yet recognized, other than options			$ 25,900
Award vesting period			4 years
Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		146,964
Performance Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	227,760
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognition period for stock-based compensation			2 years 4 months 24 days
Granted (in shares)			275,000
Compensation not yet recognized, other than options			$ 7,200
Minimum \| Performance Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested			0.00%
Maximum \| Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested			150.00%
Maximum \| Performance Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested			200.00%

Stock-based compensation - Assumptions (Details)	12 Months Ended
Stock-based compensation - Assumptions (Details)	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected stock price volatility	36.53%	37.79%	38.01%
Risk-free interest rate	2.52%	1.18%	1.18%
Expected life of options	5 years 2 months 1 day	4 years 6 months	4 years 6 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected stock price volatility	37.84%	38.01%	38.37%
Risk-free interest rate	2.79%	2.07%	2.18%
Expected life of options	6 years 3 months	6 years 3 months	6 years 3 months

Stock-based compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Number of options
Opening balance (shares)	3,699
Granted (shares)	140	420	1,399
Number of shares exercised (shares)	(1,276)
Forfeited (shares)	(119)
Ending balance (shares)	2,444	3,699
Vested and expected to vest as of year end (shares)	2,444
Exercisable as of year end (shares)	843
Range of exercise prices (usd per share)
Beginning balance, minimum (usd per share)	$ 0.10
Beginning balance, maximum (usd per share)	51.44
Granted, minimum (usd per share)	50.41
Granted, maximum (usd per share)	82.39
Exercised, minimum (usd per share)	0.10
Exercised, maximum (usd per share)	44.53
Forfeited, minimum (usd per share)	14.00
Forfeited, maximum (usd per share)	44.53
Ending balance, minimum (usd per share)	0.10	$ 0.10
Ending balance, maximum (usd per share)	82.39	51.44
Weighted- average exercise price (usd per share)
Opening balance (usd per share)	22.83
Granted (usd per share)	64.06
Exercised (dollars per share)	17.97
Forfeited (usd per share)	30.50
Ending balance (usd per share)	27.37	$ 22.83
Vested and expected to vest as of year end, weighted average exercise price (usd per share)	27.37
Exercisable as of year end (usd per share)	$ 23.19
Weighted- average contractual term (in years)	6 years 8 months 28 days	7 years 3 months 5 days
Vested and expected to vest as of year end, weighted- average contractual term (in years)	6 years 8 months 28 days
Exercisable as of year end, weighted-average contractual term (in years)	6 years 3 months 11 days
Aggregate intrinsic value	$ 85,971	$ 102,796
Vested and expected to vest as of year end, aggregate intrinsic value	85,971
Exercisable as of year end, aggregate intrinsic value	$ 33,023

Stock-based compensation - Stock Options Granted and Exercised (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock options granted (shares)	140	420	1,399
Weighted-average fair value at date of grant (usd per share)	$ 64.06	$ 42.72	$ 28.85
Total intrinsic value of stock options exercised	$ 65,463	$ 44,823	$ 50,094

Stock-based compensation - Restricted Stock Activity (Details) shares in Thousands	12 Months Ended
	Jan. 31, 2019 $ / shares shares
Restricted Stock Units
Shares
Unvested, beginning balance (in shares) \| shares	451
Granted (in shares) \| shares	321
Vested (in shares) \| shares	(88)
Forfeitures (in shares) \| shares	(36)
Unvested, ending balance (in shares) \| shares	648
Weighted-average grant date fair value
Unvested, beginning balance (usd per share) \| $ / shares	$ 44.10
Granted (usd per share) \| $ / shares	67.69
Vested (usd per share) \| $ / shares	46.35
Forfeitures (usd per share) \| $ / shares	49.00
Unvested, ending balance (usd per share) \| $ / shares	$ 55.20
Restricted Stock
Shares
Unvested, beginning balance (in shares) \| shares	0
Granted (in shares) \| shares	275
Vested (in shares) \| shares	0
Forfeitures (in shares) \| shares	(19)
Unvested, ending balance (in shares) \| shares	256
Weighted-average grant date fair value
Unvested, beginning balance (usd per share) \| $ / shares	$ 0.00
Granted (usd per share) \| $ / shares	61.92
Vested (usd per share) \| $ / shares	0.00
Forfeitures (usd per share) \| $ / shares	61.72
Unvested, ending balance (usd per share) \| $ / shares	$ 61.93

Fair value (Details) - USD ($) $ in Thousands	Jan. 31, 2019	Jan. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	$ 0	$ 40,797
Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds		40,797
Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds		0
Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds		$ 0

Employee benefits (Details) - USD ($)	12 Months Ended
Employee benefits (Details) - USD ($)	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Defined Contribution Plan Disclosure [Line Items]
Maximum coverage per incident under self-insurance	$ 110,000
Accrued compensation
Defined Contribution Plan Disclosure [Line Items]
Liability for self-insured medical claims	$ 1,400,000	$ 1,700,000
Supplemental Employee Retirement Plan \| 401(k)
Defined Contribution Plan Disclosure [Line Items]
Percent of employees eligible earnings	3.50%
Annual vesting	25.00%
Administrative expenses	$ 25,000	25,000	$ 15,000
Employer matching contribution expense	$ 1,800,000	$ 1,400,000	$ 900,000

Supplementary quarterly financial data (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2019	Oct. 31, 2018	Jul. 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 75,777	$ 70,495	$ 71,067	$ 69,904	$ 60,436	$ 56,789	$ 56,879	$ 55,421	$ 287,243	$ 229,525	$ 178,370
Total cost of revenue	31,332	24,678	24,492	25,548	28,790	23,062	21,077	21,680	106,050	94,609	72,015
Gross profit	44,445	45,817	46,575	44,356	31,646	33,727	35,802	33,741	181,193	134,916	106,355
Total operating expenses	27,864	26,831	25,012	23,816	23,212	20,165	19,307	17,814	103,523	80,498	65,143
Total other expense	(221)	(1,555)	(75)	(1)	(1,706)	(395)	(38)	(90)	(1,852)	(2,229)	(1,092)
Income tax provision (benefit)	3,241	1,745	(1,029)	(2,038)	823	2,685	(489)	1,808	1,919	4,827	13,744
Net income	$ 13,119	$ 15,686	$ 22,517	$ 22,577	$ 5,905	$ 10,482	$ 16,946	$ 14,029	$ 73,899	$ 47,362	$ 26,376
Net income per share:
Basic (usd per share)	$ 0.21	$ 0.25	$ 0.36	$ 0.37	$ 0.10	$ 0.17	$ 0.28	$ 0.23	$ 1.20	$ 0.79	$ 0.45
Diluted (usd per share)	$ 0.21	$ 0.25	$ 0.36	$ 0.36	$ 0.09	$ 0.17	$ 0.27	$ 0.23	$ 1.17	$ 0.77	$ 0.44

Label	Element	Value
Accounting Standards Update 2014-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 13,007,000
Accounting Standards Update 2014-09 [Member] \| Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	13,007,000
Accounting Standards Update 2016-01 [Member] \| AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	269,000
Accounting Standards Update 2016-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	8,157,000
Accounting Standards Update 2016-09 [Member] \| Additional Paid-in Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	249,000
Accounting Standards Update 2016-09 [Member] \| Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 7,908,000

Property and equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2019	Jan. 31, 2018	Jan. 31, 2017
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 3.5	$ 2.8	$ 2.0