v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2020
Jan. 31, 2019
Jan. 31, 2018
Cash flows from operating activities:      
Net income $ 39,664 $ 73,899 $ 47,362
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 55,352 18,185 15,952
Stock-based compensation 39,844 21,057 14,310
(Gains) losses on marketable equity securities and other (23,151) 1,173 597
Deferred taxes 3,665 408 4,306
Changes in operating assets and liabilities:      
Accounts receivable (5,009) (4,306) (4,734)
Other assets (12,577) (5,893) (760)
Operating lease right-of-use assets 6,218    
Accounts payable (3,839) 863 (581)
Accrued compensation 4,550 4,432 3,827
Accrued liabilities and other current liabilities 5,759 3,031 484
Operating lease liabilities, non-current (5,383)    
Other long-term liabilities (83) 573 939
Net cash provided by operating activities 105,010 113,422 81,702
Cash flows from investing activities:      
Acquisitions, net of cash acquired (1,644,575) 0 (2,882)
Purchases of marketable securities (53,845) (728) (483)
Purchases of property and equipment (7,286) (3,869) (5,458)
Purchases of software and capitalized software development costs (25,654) (9,978) (10,380)
Acquisition of intangible member assets (9,134) (1,195) (17,545)
Proceeds from sale of marketable securities 0 41,422 0
Net cash provided by (used in) investing activities (1,740,494) 25,652 (36,748)
Cash flows from financing activities:      
Proceeds from long-term debt 1,250,000 0 0
Payment of debt issuance costs (30,504) 0 0
Principal payments on long-term debt (7,813) 0 0
Settlement of client-held funds obligation (215,790) 0 0
Proceeds from follow-on offering, net of payments for offering costs 458,495 0 0
Proceeds from exercise of common stock options 11,347 22,929 14,564
Net cash provided by financing activities 1,465,735 22,929 14,564
Increase (decrease) in cash and cash equivalents (169,749) 162,003 59,518
Beginning cash and cash equivalents 361,475 199,472 139,954
Ending cash and cash equivalents 191,726 361,475 199,472
Supplemental cash flow data:      
Interest expense paid in cash 21,806 203 203
Income taxes paid in cash, net of refunds received 9,277 587 27
Supplemental disclosures of non-cash investing and financing activities:      
Equity-based acquisition consideration 3,776 0 0
Purchases of property and equipment included in accounts payable or accrued liabilities at period end 487 37 0
Customer relationships      
Supplemental disclosures of non-cash investing and financing activities:      
Purchases of intangible assets 0 0 1,409
Software      
Supplemental disclosures of non-cash investing and financing activities:      
Purchases of intangible assets $ 1,742 $ 200 $ 3