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Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations
 6 Months Ended
Jul. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations Revenue, Accounts Receivable, Deferred Revenue, and Remaining Performance Obligations
Disaggregation of Revenue

Revenue consists of the following (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2026202520262025
Product revenue$1,491,861 $1,090,496 $2,826,190 $2,087,309 
Professional services and other revenue54,932 54,473 111,554 99,734 
Total$1,546,793 $1,144,969 $2,937,744 $2,187,043 

Revenue by geographic area, based on the location of the Company’s customers (or end-customers under reseller arrangements), was as follows (in thousands):

Three Months Ended July 31,Six Months Ended July 31,
2026202520262025
Americas:
United States$1,152,224 $861,469 $2,195,743 $1,645,976 
Other Americas(1)
40,953 30,570 76,962 60,231 
EMEA(1)(2)
258,747 185,315 489,364 354,124 
Asia-Pacific and Japan(1)
94,869 67,615 175,675 126,712 
Total$1,546,793 $1,144,969 $2,937,744 $2,187,043 
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(1)No individual country in these areas represented more than 10% of the Company’s revenue for all periods presented.
(2)Includes Europe, the Middle East and Africa.

Accounts Receivable, Net

The Company’s allowance for credit losses was not material as of each of July 31, 2026 and January 31, 2026.

Significant Customers

For purposes of assessing the concentration of credit risk and significant customers, a group of customers under common control or customers that are affiliates of each other are regarded as a single customer. As of each of July 31, 2026 and January 31, 2026, there were no customers that represented 10% or more of the Company’s accounts receivable, net balance. Additionally, there were no customers that represented 10% or more of the Company’s revenue for each of the three and six months ended July 31, 2026 and 2025.

Deferred Revenue

The Company recognized $1.1 billion and $827.6 million of revenue for the three months ended July 31, 2026 and 2025, respectively, from the deferred revenue balances as of April 30, 2026 and 2025, respectively.

The Company recognized $2.0 billion and $1.4 billion of revenue for the six months ended July 31, 2026 and 2025, respectively, from the deferred revenue balances as of January 31, 2026 and 2025, respectively.

Remaining Performance Obligations

Remaining performance obligations (RPO) represent the amount of contracted future revenue that has not yet been recognized, including (i) deferred revenue and (ii) non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods. The Company’s RPO excludes performance obligations from on-demand arrangements as there are no minimum purchase commitments associated with these arrangements, and certain time and materials contracts that are billed in arrears. Portions of RPO that are not yet invoiced and are denominated in foreign currencies are revalued into U.S. dollars each period based on the applicable period-end exchange rates.
As of July 31, 2026, the Company’s RPO was approximately $9.0 billion, of which the Company expects approximately 54% to be recognized as revenue in the 12 months ending July 31, 2027 based on historical customer consumption patterns. However, the amount and timing of revenue recognition are generally dependent upon customers’ future consumption, which is inherently variable at customers’ discretion and can extend beyond the original contract term in cases where customers are permitted to roll over unused capacity to future periods, generally on the purchase of additional capacity at renewal.