v3.26.1
Fair Value Measurement
 3 Months Ended
Apr. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurement Fair Value Measurement
The following tables present the fair value hierarchy of our financial assets and liabilities measured at fair value on a recurring basis as of April 30, 2026 and January 31, 2026 (in thousands): 
 As of April 30, 2026
 Level 1Level 2Level 3Total
Financial assets:   
Money market funds
$143,084 $— $— $143,084 
Treasury bills31,957 — — 31,957 
Commercial paper
— — — — 
Total cash equivalents175,041 — — 175,041 
Treasury bills and U.S. government securities607,687 — — 607,687 
Corporate bonds— 138,269 — 138,269 
Commercial paper— 34,692 — 34,692 
Yankee bonds— 2,903 — 2,903 
Total marketable securities607,687 175,864 — 783,551 
Other investments carried at fair value— — 14,142 14,142 
Total$782,728 $175,864 $14,142 $972,734 
Financial liabilities:
Contingent consideration$— $3,964 $30,000 $33,964 
Total$— $3,964 $30,000 $33,964 
 As of January 31, 2026
 Level 1Level 2Level 3Total
Financial assets:   
Money market funds
$279,658 $— $— $279,658 
Treasury bills21,982 — — 21,982 
Total cash equivalents301,640 — — 301,640 
Treasury bills and U.S. government securities620,155 — — 620,155 
Corporate bonds— 160,877 — 160,877 
Commercial paper— 34,390 — 34,390 
Yankee bonds— 2,897 — 2,897 
Total marketable securities620,155 198,164 — 818,319 
Other investments carried at fair value— — 14,202 14,202 
Total$921,795 $198,164 $14,202 $1,134,161 
Financial liabilities:
Contingent consideration$— $— $1,532 $1,532 
Total$— $— $1,532 $1,532 
Our money market funds and treasury bills and U.S. government securities are classified within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. We classify corporate bonds, commercial paper, and Yankee bonds as Level 2 because they are valued using inputs other than quoted prices which are directly or indirectly observable in the market, including readily-available pricing sources for the identical underlying security which may not be actively traded. With respect to Level 3 inputs, other investments carried at fair value consist of convertible bonds of a private company, the H Company, purchased during fiscal year 2025. Contingent consideration liabilities associated with business acquisitions are classified as Level 3 because their valuations rely on unobservable inputs such as likelihood of earn-out payment scenarios and discount rate.
During the three months ended April 30, 2026, changes in the fair value of Level 3 financial liabilities, which consist solely of contingent consideration liabilities associated with business acquisitions, were as follows (in thousands):
 Fair Value
Balance as of January 31, 2026$1,532 
Additions — acquisition of WorkFusion, Inc
30,000 
Changes in fair value — Peak AI Limited (recorded within general and administrative expenses)2,446 
Effect of foreign currency translation(14)
Transfers out of Level 3 — determination of earn-out for Peak AI Limited$(3,964)
Balance as of April 30, 2026$30,000