v3.26.1
Investments and Fair Value Measurements (Tables)
 6 Months Ended
Jul. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities that are Measured at Fair Value on a Recurring Basis
The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis as of July 31, 2026 and January 31, 2026 is as follows (in thousands):
July 31, 2026January 31, 2026
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets
Cash equivalents (1)
Money market funds$1,067,046 $— $— $1,067,046 $1,407,062 $— $— $1,407,062 
U.S. Treasury securities— 1,193,202 — 1,193,202 — 598,398 — 598,398 
Total investments$1,067,046 $1,193,202 $— $2,260,248 $1,407,062 $598,398 $— $2,005,460 
Prepaid expenses and other current assets
Foreign currency forward contracts$— $497 $— $497 $— $— $— $— 
Total prepaid expenses and other current assets$— $497 $— $497 $— $— $— $— 
Other assets
Deferred compensation investments$17,909 $— $— $17,909 $12,710 $— $— $12,710 
Total other assets$17,909 $— $— $17,909 $12,710 $— $— $12,710 
Total assets$1,084,955 $1,193,699 $— $2,278,654 $1,419,772 $598,398 $— $2,018,170 
(1)Cash equivalents exclude $1.2 billion of time deposits, which are carried at cost and approximate fair value as of July 31, 2026.
Schedule of Privately Held Equity Securities and Gains and Losses on Strategic Investments
The Company’s investments of privately held securities as of July 31, 2026, consisted of the following (in thousands):
Privately held equity securities
Initial total cost$67,438 
Cumulative net gains1,825 
Carrying amount, end of period$69,263 
The Company’s investments of privately held securities as of January 31, 2026, consisted of the following (in thousands):
Privately held equity securities
Initial total cost$75,007 
Cumulative net gains1,825 
Carrying amount, end of period$76,832 
The components of gains and losses on strategic investments were as follows (in thousands):
Three Months Ended July 31,Six Months Ended July 31,
2026202520262025
Unrealized losses recognized on privately held equity securities, including impairment$— $— $— $(1,579)
Unrealized losses$— $— $— $(1,579)
Realized gains recognized on sales of privately held equity securities$— $— $36,362 $— 
Realized gains$— $— $36,362 $— 
Gains (losses) on strategic investments, net$— $— $36,362 $(1,579)
Unrealized losses recognized during the reporting period on privately held equity securities still held at the reporting date$— $— $— $(1,579)