v3.26.1
Condensed consolidated statements of cash flows (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2026
Apr. 30, 2025
Cash flows from operating activities:    
Net income $ 69,418 $ 53,915
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 38,214 38,741
Stock-based compensation 19,406 14,336
Amortization of debt discount and issuance costs 277 265
Amortization of gains on derivatives (196) 0
Deferred taxes 10,106 1,324
Changes in operating assets and liabilities:    
Accounts receivable, net 1,693 1,750
Prepaid expenses and other current and non-current assets (11,690) (5,702)
Operating lease right-of-use assets 1,732 1,649
Accrued compensation (31,242) (42,210)
Accounts payable, accrued liabilities, and other current liabilities (873) 3,422
Operating lease liabilities, non-current (2,080) (1,968)
Other long-term liabilities 2,761 (784)
Net cash provided by operating activities 97,526 64,738
Cash flows from investing activities:    
Purchases of software and capitalized software development costs (15,930) (16,057)
Purchases of property and equipment (362) (86)
Settlement of derivatives, net 2,388 0
Net cash used in investing activities (13,904) (16,143)
Cash flows from financing activities:    
Repurchases of common stock (123,314) (59,065)
Principal payments on long-term debt (15,000) 0
Settlement of client-held funds obligation, net 716 1,451
Proceeds from exercise of common stock options 418 965
Net cash used in financing activities (137,180) (56,649)
Decrease in cash and cash equivalents (53,558) (8,054)
Beginning cash and cash equivalents 318,927 295,948
Ending cash and cash equivalents 265,369 287,894
Supplemental cash flow data:    
Interest expense paid in cash 18,512 20,809
Income tax refunds, net (451) (46)
Supplemental disclosures of non-cash investing and financing activities:    
Purchases of software and capitalized software development costs included in accounts payable, accrued liabilities, or accrued compensation 2,001 2,774
Purchases of property and equipment included in accounts payable or accrued liabilities 765 546
Repurchases of common stock included in accrued liabilities $ 2,858 $ 2,000