v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2026
Jan. 31, 2025
Jan. 31, 2024
Operating activities      
Net income (loss) $ (161,165) $ (12,566) $ 73,439
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 250,218 187,952 126,838
Amortization of intangible assets 31,233 26,004 18,416
Amortization of deferred contract acquisition costs 449,413 318,837 238,901
Non-cash operating lease cost 17,197 15,283 13,398
Stock-based compensation expense 1,096,679 861,391 648,665
Deferred income taxes (14,797) (9,903) (3,387)
Realized gains on strategic investments (4,161) (6,321) (3,936)
Accretion of short-term investments purchased at a discount 0 2,285 (2,285)
Non-cash interest expense 5,444 3,763 3,173
Change in fair value of strategic investments 1,579 1,000 1,459
Changes in operating assets and liabilities, net of impact of acquisitions      
Accounts receivable, net (232,528) (274,219) (217,699)
Deferred contract acquisition costs (703,707) (584,484) (371,649)
Prepaid expenses and other assets (206,157) (190,232) (102,520)
Accounts payable (11,267) 84,939 (18,898)
Accrued expenses and other liabilities 22,587 218,518 14,586
Accrued payroll and benefits 61,610 85,873 65,102
Operating lease liabilities (13,692) (15,657) (14,035)
Deferred revenue 1,023,863 669,264 696,639
Net cash provided by operating activities 1,612,349 1,381,727 1,166,207
Investing activities      
Purchases of property and equipment (302,108) (254,852) (176,529)
Capitalized internal-use software and website development costs (68,751) (58,969) (49,457)
Purchases of strategic investments (10,767) (19,702) (17,177)
Proceeds from sales of strategic investments 5,217 12,507 2,000
Business acquisitions, net of cash and restricted cash acquired (382,268) (310,257) (239,030)
Purchases of intangible assets 0 0 (11,126)
Purchases of short-term investments 0 0 (195,581)
Proceeds from maturities and sales of short-term investments 0 97,300 348,281
Purchases of deferred compensation investments (6,009) (2,721) (2,031)
Proceeds from the sale of deferred compensation investments 207 106 0
Net cash used in investing activities (764,479) (536,588) (340,650)
Financing activities      
Proceeds from issuance of common stock upon exercise of stock options 3,163 3,983 8,695
Proceeds from issuance of common stock under the employee stock purchase plan 125,834 99,616 76,375
Distributions to non-controlling interest holders (2,545) (4,891) 0
Capital contributions from non-controlling interest holders 6,000 8,500 8,088
Net cash provided by financing activities 132,452 107,208 93,158
Effect of foreign exchange rates on cash, cash equivalents, and restricted cash 9,629 (5,278) 1,958
Net increase in cash, cash equivalents, and restricted cash 989,951 947,069 920,673
Cash, cash equivalents, and restricted cash at beginning of period 4,324,666 3,377,597 2,456,924
Cash, cash equivalents, and restricted cash 5,314,617 4,324,666 3,377,597
Cash and cash equivalents 5,230,125 4,323,295 3,375,069
Restricted cash included in prepaid expenses and other current assets 523 1,371 2,528
Restricted cash included in other long-term assets 83,969 0 0
Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows 5,314,617 4,324,666 3,377,597
Supplemental disclosure of cash flow information:      
Interest paid 22,500 22,500 22,500
Income taxes paid, net of refunds received 51,464 19,022 22,608
Supplemental disclosure of non-cash investing and financing activities:      
Net increase (decrease) in property and equipment included in accounts payable and accrued expenses (5,218) 9,452 (3,081)
Equity consideration for acquisitions 2,302 1,155 652
Operating lease liabilities arising from obtaining operating right-of-use assets 40,895 6,821 16,445
Proceeds from sales of strategic investments not yet received 9,161 4,992 8,774
Stock-based compensation included in capitalized software development costs and fixed assets 56,956 36,959 31,919
Noncash consideration for the purchase of strategic investments 1,101 3,319 0
Noncash consideration received from sales of strategic investments 0 3,319 0
Fair value of common stock to be issued for consideration transferred 10,318 0 0
Restricted cash held in escrow for purchase consideration for business combinations $ 82,500 $ 0 $ 0