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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Oct. 31, 2024
Oct. 31, 2023
Cash flows from operating activities:    
Net income $ 984,394 $ 46,739
Adjustments to reconcile net income provided by operating activities:    
Depreciation and amortization 79,097 71,429
Amortization of deferred contract acquisition and fulfillment costs 172,731 147,781
Amortization of debt discount and transaction costs 415 3,722
Non-cash operating lease costs 14,463 16,499
Stock-based compensation expense 460,388 455,831
Deferred income taxes (817,886) 7,265
Other 6,472 (1,353)
Changes in operating assets and liabilities:    
Accounts receivable 130,691 152,902
Prepaid expenses and other current assets (8,300) (7,957)
Deferred contract acquisition and fulfillment costs (214,548) (176,510)
Other assets (16,118) (14,019)
Accounts payable (1,514) (9,089)
Accrued expenses and other liabilities (7,146) 2,372
Accrued compensation (41,128) (4,368)
Contract liabilities (16,431) 36,876
Operating lease liabilities (16,220) (19,292)
Net cash provided by operating activities 709,360 708,828
Cash flows from investing activities:    
Cash paid for acquisition, net of acquired cash (143,611) 0
Purchases of marketable securities (333,537) (203,346)
Maturities of marketable securities 265,834 251,517
Purchases of strategic and other investments (625) (520)
Purchases of property and equipment (68,646) (70,277)
Net cash used in investing activities (280,585) (22,626)
Cash flows from financing activities:    
Repayments of convertible senior notes 0 (37,083)
Repurchases of common stock (521,803) (145,515)
Settlement of capped calls, net of related costs 0 23,688
Payment of tax withholding obligation on net RSU settlement and ESPP purchase (132,134) (98,296)
Proceeds from exercise of stock options 11,346 13,207
Proceeds from employee stock purchase plan 35,314 32,994
Net cash used in financing activities (607,277) (211,005)
Effect of foreign exchange on cash, cash equivalents and restricted cash (2,239) (4,897)
Net increase (decrease) in cash, cash equivalents and restricted cash (180,741) 470,300
Cash, cash equivalents and restricted cash at beginning of period [1] 801,499 723,201
Cash, cash equivalents and restricted cash at end of period [1] $ 620,758 $ 1,193,501
[1] $9.9 million and $4.4 million of restricted cash was included in Prepaid expenses and other current assets and Other assets—noncurrent at October 31, 2024 and January 31, 2024. $4.9 million and $1.3 million of restricted cash was included in Prepaid expenses and other current assets and in Other assets—noncurrent at October 31, 2023 and January 31, 2023.