v3.26.1
Cash Equivalents, Investments, and Strategic Investments (Tables)
 3 Months Ended
Apr. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash and Cash Equivalents
The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands):

April 30, 2026
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$1,401,999 $— $— $1,401,999 
Time deposits107,558 — — 107,558 
U.S. government securities44,360 1 — 44,361 
Commercial paper2,770 — — 2,770 
Total cash equivalents1,556,687 1 — 1,556,688 
Investments:
Corporate notes and bonds1,851,397 1,303 (3,188)1,849,512 
U.S. government and agency securities401,565 449 (123)401,891 
Certificates of deposit25,298 9 — 25,307 
Asset-backed securities21,496 — (36)21,460 
Commercial paper4,611 — (4)4,607 
Total investments2,304,367 1,761 (3,351)2,302,777 
Total cash equivalents and investments$3,861,054 $1,762 $(3,351)$3,859,465 

January 31, 2026
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$1,752,777 $— $— $1,752,777 
Time deposits108,727 — — 108,727 
U.S. government securities94,523 9 — 94,532 
Commercial paper40,384 2 (7)40,379 
Certificates of deposit
2,808 — — 2,808 
Corporate notes and bonds75 — — 75 
Total cash equivalents1,999,294 11 (7)1,999,298 
Investments:
Corporate notes and bonds1,382,374 4,473 (11)1,386,836 
U.S. government and agency securities484,453 961 (14)485,400 
Certificates of deposit65,643 46 — 65,689 
Commercial paper18,605 6 — 18,611 
Total investments1,951,075 5,486 (25)1,956,536 
Total cash equivalents and investments$3,950,369 $5,497 $(32)$3,955,834 
Schedule of Debt Securities, Available-for-Sale
The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands):

April 30, 2026
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$1,401,999 $— $— $1,401,999 
Time deposits107,558 — — 107,558 
U.S. government securities44,360 1 — 44,361 
Commercial paper2,770 — — 2,770 
Total cash equivalents1,556,687 1 — 1,556,688 
Investments:
Corporate notes and bonds1,851,397 1,303 (3,188)1,849,512 
U.S. government and agency securities401,565 449 (123)401,891 
Certificates of deposit25,298 9 — 25,307 
Asset-backed securities21,496 — (36)21,460 
Commercial paper4,611 — (4)4,607 
Total investments2,304,367 1,761 (3,351)2,302,777 
Total cash equivalents and investments$3,861,054 $1,762 $(3,351)$3,859,465 

January 31, 2026
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$1,752,777 $— $— $1,752,777 
Time deposits108,727 — — 108,727 
U.S. government securities94,523 9 — 94,532 
Commercial paper40,384 2 (7)40,379 
Certificates of deposit
2,808 — — 2,808 
Corporate notes and bonds75 — — 75 
Total cash equivalents1,999,294 11 (7)1,999,298 
Investments:
Corporate notes and bonds1,382,374 4,473 (11)1,386,836 
U.S. government and agency securities484,453 961 (14)485,400 
Certificates of deposit65,643 46 — 65,689 
Commercial paper18,605 6 — 18,611 
Total investments1,951,075 5,486 (25)1,956,536 
Total cash equivalents and investments$3,950,369 $5,497 $(32)$3,955,834 
Schedule of Available For Sale Securities Remaining Contractual Maturity The estimated fair values of available-for-sale marketable debt securities, classified as short-term or long-term investments on the Company’s condensed consolidated balance sheets, by remaining contractual maturity, are as follows (in thousands):
April 30, 2026
Estimated
Fair Value
Due within 1 year$870,283 
Due in 1 year to 3 years
829,841 
Due in 3 years to 5 years602,653 
Total$2,302,777 
Schedule of Fair Value Measurements
The following table presents the Company’s strategic investments by type (in thousands):

April 30, 2026January 31, 2026
Equity securities:
Non-marketable equity securities under Measurement Alternative$336,574 $359,114 
Non-marketable equity securities under equity method5,329 5,241 
Marketable equity securities6,628 6,264 
Debt securities:
Non-marketable debt securities5,000 10,000 
Total strategic investments—included in other assets$353,531 $380,619 
Realized And Unrealized Gain (Loss) On Investments
The following table summarizes the gains and losses associated with the Company’s strategic investments (in thousands):

Three Months Ended April 30,
20262025
Unrealized losses on non-marketable equity securities under Measurement Alternative:
Impairments$(2,000)$(26,521)
Net unrealized gains (losses) on marketable equity securities
364 (4,468)
Net unrealized gains (losses) on strategic investments in equity securities
(1,636)(30,989)
Net realized gains (losses) on strategic investments in equity securities(1)
(1,862)1,304 
Change in fair value of a non-marketable debt security accounted for under fair value option(6,000)— 
Total—included in other expense, net$(9,498)$(29,685)
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(1)The net realized losses on strategic investments in equity securities for the three months ended April 30, 2026 primarily relate to a remeasurement loss of $2.2 million recognized on a previously held equity interest in Observe, Inc. See Note 7, “Business Combinations,” for further details. For strategic investments in equity securities sold, the realized gains or losses represent the difference between the sale proceeds and the carrying value of the securities at the beginning of the period or the purchase date, if later.