v3.26.1
Condensed consolidated statements of cash flows (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jul. 31, 2026
Jul. 31, 2025
Cash flows from operating activities:    
Net income $ 135,062 $ 113,769
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 80,169 77,195
Stock-based compensation 41,616 33,404
Amortization of debt discount and issuance costs 558 533
Amortization of gains on derivatives (168) 0
Deferred taxes 19,321 30,711
Changes in operating assets and liabilities:    
Accounts receivable, net 1,503 6,842
Prepaid expenses and other current and non-current assets (12,581) (20,650)
Operating lease right-of-use assets 3,436 3,339
Accrued compensation (21,095) (35,032)
Accounts payable, accrued liabilities, and other current liabilities (13,595) (3,785)
Operating lease liabilities, non-current (4,206) (3,951)
Other long-term liabilities 3,665 (1,771)
Net cash provided by operating activities 233,685 200,604
Cash flows from investing activities:    
Capitalized software development costs (30,720) (26,464)
Purchases of property and equipment (1,340) (859)
Settlement of derivatives, net (7,759) 0
Net cash used in investing activities (39,819) (27,323)
Cash flows from financing activities:    
Repurchases of common stock (231,054) (125,810)
Principal payments on long-term debt (26,875) (50,000)
Settlement of client-held funds obligation, net 480 596
Proceeds from exercise of common stock options 659 10,446
Net cash used in financing activities (256,790) (164,768)
Increase (decrease) in cash and cash equivalents (62,924) 8,513
Beginning cash and cash equivalents 318,927 295,948
Ending cash and cash equivalents 256,003 304,461
Supplemental cash flow data:    
Interest expense paid in cash 23,350 28,362
Income tax payments, net 35,586 6,507
Supplemental disclosures of non-cash investing and financing activities:    
Capitalized software development costs included in accounts payable, accrued liabilities, or accrued compensation 3,434 3,380
Purchases of property and equipment included in accounts payable or accrued liabilities 1,294 155
Repurchases of common stock included in accrued liabilities 3,255 1,246
Exercise of common stock options receivable $ 57 $ 0