v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jul. 31, 2026
Jul. 31, 2025
Operating activities    
Net income (loss) $ 51,272 $ (175,173)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 157,597 116,834
Amortization of intangible assets 25,690 15,261
Amortization of deferred contract acquisition costs 207,052 209,941
Non-cash operating lease cost 10,371 8,717
Stock-based compensation expense 674,617 527,292
Deferred income taxes (7,062) (2,320)
Realized gains on strategic investments (36,362) 0
Non-cash interest expense 883 2,293
Change in fair value of strategic investments 0 1,579
Changes in operating assets and liabilities, net of impact of acquisitions    
Accounts receivable, net 324,183 242,008
Deferred contract acquisition costs (298,436) (251,622)
Prepaid expenses and other assets (95,422) (50,411)
Accounts payable (7,717) (13,310)
Accrued expenses and other liabilities 11,918 12,716
Accrued payroll and benefits 28,394 (24,931)
Operating lease liabilities (9,087) (8,113)
Deferred revenue 83,314 106,178
Net cash provided by operating activities 1,121,205 716,939
Investing activities    
Purchases of property and equipment (222,037) (116,248)
Capitalized internal-use software and website development costs (49,090) (34,726)
Purchases of strategic investments (3,400) (1,417)
Proceeds from sales of strategic investments 17,504 4,388
Business acquisitions, net of cash and restricted cash acquired (881,376) 0
Purchases of intangible assets (3,000) 0
Purchases of deferred compensation investments (4,338) (2,770)
Proceeds from the sale of deferred compensation investments 130 164
Net cash used in investing activities (1,145,607) (150,609)
Financing activities    
Proceeds from issuance of common stock upon exercise of stock options 1,669 2,355
Proceeds from issuance of common stock under the employee stock purchase plan 86,624 74,622
Distributions to non-controlling interest holders (24,606) (2,156)
Capital contributions from non-controlling interest holders 0 1,500
Repurchases of common stock (175,622) 0
Net cash provided by (used in) financing activities (111,935) 76,321
Effect of foreign exchange rates on cash, cash equivalents and restricted cash (1,616) 6,595
Net increase (decrease) in cash, cash equivalents and restricted cash (137,953) 649,246
Cash, cash equivalents and restricted cash at beginning of period 5,314,617 4,324,666
Cash, cash equivalents, and restricted cash 5,176,664 4,973,912
Cash and cash equivalents 5,013,847 4,972,436
Restricted cash included in prepaid expenses and other current assets 82,600 1,476
Restricted cash included in other long-term assets 80,217 0
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows 5,176,664 4,973,912
Supplemental disclosure of cash flow information:    
Interest paid 11,250 11,250
Income taxes paid, net of refunds received 36,225 26,031
Supplemental disclosure of non-cash investing and financing activities:    
Net increase in property and equipment included in accounts payable and accrued expenses 52,136 7,918
Equity consideration for acquisitions 22,949 0
Operating lease liabilities arising from obtaining operating right-of-use assets 8,578 28,273
Proceeds from sales of strategic investments not yet received 398 661
Stock-based compensation included in capitalized software development costs and fixed assets 36,799 28,431
Non-cash consideration for the purchase of strategic investments 0 1,101
Restricted cash held in escrow for purchase consideration for business combinations $ 74,000 $ 0