v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Oct. 31, 2024
Oct. 31, 2023
Operating activities    
Net income $ 76,135 $ 35,644
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 137,851 89,972
Amortization of intangible assets 18,665 12,913
Amortization of deferred contract acquisition costs 227,713 173,158
Non-cash operating lease cost 11,100 9,725
Stock-based compensation expense 592,890 455,247
Deferred income taxes (2,122) (2,355)
Realized gains on strategic investments (6,227) 0
Non-cash interest expense 2,748 2,337
Accretion of short-term investments purchased at a discount 2,285 (1,934)
Changes in operating assets and liabilities, net of impact of acquisitions    
Accounts receivable, net 39,184 65,858
Deferred contract acquisition costs (361,412) (206,678)
Prepaid expenses and other assets (42,832) (21,972)
Accounts payable 34,096 2,361
Accrued expenses and other liabilities 85,667 33,597
Accrued payroll and benefits 89,896 1,810
Operating lease liabilities (11,812) (16,147)
Deferred revenue 142,180 185,655
Net cash provided by operating activities 1,036,005 819,191
Investing activities    
Purchases of property and equipment (167,641) (123,945)
Capitalized internal-use software and website development costs (41,266) (38,605)
Purchases of strategic investments (12,702) (12,177)
Proceeds from sales of strategic investments 10,895 0
Business acquisitions, net of cash acquired (96,381) (238,749)
Purchases of intangible assets 0 (526)
Purchases of short-term investments 0 (195,581)
Proceeds from maturities and sales of short-term investments 97,300 250,000
Purchases of deferred compensation investments (1,815) (1,462)
Proceeds from sales of deferred compensation investments 41 0
Net cash used in investing activities (211,569) (361,045)
Financing activities    
Proceeds from the issuance of common stock upon exercise stock options 3,308 6,178
Proceeds from issuance of common stock under the employee stock purchase plan 56,099 45,432
Distributions to non-controlling interest holders (4,085) 0
Capital contributions from non-controlling interest holders 5,500 8,088
Net cash provided by financing activities 60,822 59,698
Effect of foreign exchange rates on cash, cash equivalents and restricted cash (641) (3,411)
Net increase in cash, cash equivalents and restricted cash 884,617 514,433
Cash, cash equivalents and restricted cash at beginning of period 3,377,597 2,456,924
Cash, cash equivalents and restricted cash at end of period 4,262,214 2,971,357
Cash and cash equivalents 4,260,324 2,968,872
Restricted cash included in prepaid expenses and other assets 1,890 2,485
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows 4,262,214 2,971,357
Supplemental disclosure of cash flow information:    
Interest paid 22,500 22,500
Income taxes paid, net of refunds received 14,195 17,911
Supplemental disclosure of non-cash investing and financing activities:    
Net increase (decrease) in property and equipment included in accounts payable and accrued expenses 22,811 (5,866)
Equity consideration for acquisitions 468 652
Operating lease liabilities arising from obtaining operating right-of-use assets 7,009 21,883
Proceeds from sales of strategic investments not yet received 4,808 0
Stock-based compensation included in capitalized software development costs and fixed assets 31,934 23,944
Noncash consideration for the purchase of strategic investments 3,319 0
Noncash consideration received from sales of strategic investments $ 3,319 $ 0