v3.25.0.1
Investments and Fair Value Measurements (Tables)
 12 Months Ended
Jan. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Company's Fair Value Hierarchy for its Financial Assets and Liabilities that are Measured at Fair Value on a Recurring Basis
The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis are as follows (in thousands):
January 31, 2025January 31, 2024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets
Cash equivalents
Money market funds$1,470,040 $— $— $1,470,040 $2,360,173 $— $— $2,360,173 
U.S. Treasury securities— 2,490,097 — 2,490,097 — 693,599 — 693,599 
Short-term investments
U.S. Treasury securities— — — — — 99,591 — 99,591 
Other assets
Deferred compensation investments5,496 — — 5,496 2,271 — — 2,271 
Total assets$1,475,536 $2,490,097 $— $3,965,633 $2,362,444 $793,190 $— $3,155,634 
Schedule of Strategic Investments
The Company’s investments in privately held securities as of January 31, 2025, consisted of the following (in thousands):
Privately held equity securitiesPrivately held debt and other securities Total
Initial total cost$68,140 $1,000 $69,140 
Cumulative net gains3,404 — 3,404 
Carrying amount, end of period$71,544 $1,000 $72,544 
The Company’s investments in privately held securities as of January 31, 2024, consisted of the following (in thousands):
Privately held equity securitiesPrivately held debt and other securities Total
Initial total cost$50,373 $1,000 $51,373 
Cumulative net gains4,871 — 4,871 
Carrying amount, end of period$55,244 $1,000 $56,244 
The components of gains and losses on strategic investments were as follows (in thousands):
Year Ended January 31,
202520242023
Unrealized gains recognized on privately held equity securities$— $— $4,758 
Unrealized losses recognized on privately held equity securities including impairment(1,000)(1,459)(2,928)
Unrealized gains (losses), net(1,000)(1,459)1,830 
Realized gains recognized on sales of privately held equity securities6,975 3,936 — 
Realized losses recognized on sales of privately held equity securities(654)— — 
Realized gains, net6,321 3,936 — 
Gains on strategic investments, net$5,321 $2,477 $1,830 
Unrealized gains (losses) recognized during the reporting period on
privately held equity securities still held at the reporting date 		$(1,000)$(1,459)$1,830