v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jul. 31, 2025
Jul. 31, 2024
Operating activities    
Net income (loss) $ (188,638) $ 92,954
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 116,834 88,936
Amortization of intangible assets 15,261 12,332
Amortization of deferred contract acquisition costs 209,941 147,851
Non-cash operating lease cost 8,717 7,167
Stock-based compensation expense 540,757 384,002
Deferred income taxes (2,320) (1,929)
Realized gains on strategic investments 0 (6,227)
Non-cash interest expense 2,293 1,785
Change in fair value of strategic investments 1,579 0
Accretion of short-term investments purchased at a discount 0 2,285
Changes in operating assets and liabilities, net of impact of acquisitions    
Accounts receivable, net 242,008 192,060
Deferred contract acquisition costs (251,622) (158,333)
Prepaid expenses and other assets (50,411) (63,224)
Accounts payable (13,310) (72)
Accrued expenses and other liabilities 12,716 7,968
Accrued payroll and benefits (24,931) (29,432)
Operating lease liabilities (8,113) (7,113)
Deferred revenue 106,178 38,859
Net cash provided by operating activities 716,939 709,869
Investing activities    
Purchases of property and equipment (116,248) (88,937)
Capitalized internal-use software and website development costs (34,726) (24,995)
Purchases of strategic investments (1,417) (2,702)
Proceeds from sales of strategic investments 4,388 10,895
Business acquisitions, net of cash acquired 0 (96,381)
Proceeds from maturities and sales of short-term investments 0 97,300
Purchases of deferred compensation investments (2,770) (1,209)
Proceeds from sales of deferred compensation investments 164 41
Net cash used in investing activities (150,609) (105,988)
Financing activities    
Proceeds from the issuance of common stock upon exercise stock options 2,355 2,464
Proceeds from issuance of common stock under the employee stock purchase plan 74,622 56,099
Distributions to non-controlling interest holders (2,156) (4,085)
Capital contributions from non-controlling interest holders 1,500 5,500
Net cash provided by financing activities 76,321 59,978
Effect of foreign exchange rates on cash, cash equivalents and restricted cash 6,595 (1,040)
Net increase in cash, cash equivalents and restricted cash 649,246 662,819
Cash, cash equivalents and restricted cash at beginning of period 4,324,666 3,377,597
Cash, cash equivalents and restricted cash at end of period 4,973,912 4,040,416
Cash and cash equivalents 4,972,436 4,038,536
Restricted cash included in prepaid expenses and other assets 1,476 1,880
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows 4,973,912 4,040,416
Supplemental disclosure of cash flow information:    
Interest paid 11,250 11,250
Income taxes paid, net of refunds received 26,031 10,250
Supplemental disclosure of non-cash investing and financing activities:    
Net increase (decrease) in property and equipment included in accounts payable and accrued expenses 7,918 (16,469)
Equity consideration for acquisitions 0 468
Operating right of-use assets 28,273 2,854
Proceeds from sales of strategic investments not yet received 661 4,808
Stock-based compensation included in capitalized software development costs and fixed assets 28,431 19,478
Noncash consideration for the purchase of strategic investments 1,101 3,319
Noncash consideration received from sales of strategic investments $ 0 $ 3,319