v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Nov. 01, 2025
Nov. 02, 2024
Cash flows from operating activities:    
Net income $ 290.5 $ 0.0
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:    
Depreciation and amortization 14.9 32.9
Stock-based compensation expense, net 19.5 10.9
Unrealized gain on digital assets (19.4) 0.0
Warrants issued to convertible noteholders 42.2 0.0
Deferred income taxes 0.1 0.0
Gain on disposal of property and equipment, net (0.2) (6.4)
Asset impairments, net 44.1 8.6
Other, net (0.2) 1.1
Changes in operating assets and liabilities:    
Receivables, net (0.4) 33.8
Merchandise inventories, net (216.6) (198.6)
Prepaid expenses and other assets 4.9 (92.6)
Prepaid income taxes and income taxes payable (15.3) (6.7)
Accounts payable and accrued liabilities 276.0 187.8
Operating lease right-of-use assets and lease liabilities (1.0) 0.6
Changes in other long-term liabilities (17.9) 12.0
Net cash flows provided by (used in) operating activities 421.2 (16.6)
Cash flows from investing activities:    
Proceeds from the sale of property and equipment 0.3 15.3
Purchases of marketable securities (1,052.4) (29.2)
Proceeds from maturities and sales of marketable securities 87.2 273.9
Purchase of digital assets (500.0) 0.0
Capital expenditures (11.3) (12.6)
Investment in collaboration agreement (17.5) 0.0
Proceeds from other divestitures, net of cash disposed (3.4) 0.0
Other 1.2 0.3
Net cash flows (used in) provided by investing activities (1,495.9) 247.7
Cash flows from financing activities:    
Proceeds from issuance of convertible debt 4,200.0 0.0
Debt issuance costs from convertible debt and warrants (41.3) 0.0
Proceeds from the issuance of shares in at-the-market (ATM) offering 0.0 3,468.5
Issuance costs from ATM offering 0.0 (14.7)
Repayments of debt (8.7) (8.3)
Proceeds from equity awards directly withheld from employees for tax purposes 7.5 6.3
Payments to tax authorities for equity awards directly withheld from employees (7.5) (6.3)
Net cash flows provided by financing activities 4,150.0 3,445.5
Exchange rate effect on cash, cash equivalents and restricted cash 9.0 1.1
Less: Net change in cash balances classified as assets held for sale (8.5) 0.0
Increase in cash, cash equivalents and restricted cash 3,075.8 3,677.7
Cash, cash equivalents and restricted cash at beginning of period 4,789.8 938.9
Cash, cash equivalents and restricted cash at end of period $ 7,865.6 $ 4,616.6