v3.25.1
Consolidated statements of cash flows - USD ($)
$ in Thousands
 12 Months Ended
Jan. 31, 2025
Jan. 31, 2024
Jan. 31, 2023
Cash flows from operating activities:      
Net income (loss) $ 96,703 $ 55,712 $ (26,143)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 162,451 153,078 161,201
Stock-based compensation 96,425 77,151 62,614
Amortization of debt issuance costs 2,067 2,852 3,261
Loss on extinguishment of debt 1,576 1,157 0
Other non-cash items 0 0 268
Deferred taxes (12,836) (13,995) (17,181)
Changes in operating assets and liabilities:      
Accounts receivable (13,113) (8,058) (9,570)
Other assets (11,790) (32,790) 4,620
Operating lease right-of-use assets 6,664 10,190 8,244
Accrued compensation 17,758 2,951 (1,282)
Accounts payable, accrued liabilities, and other current liabilities 8,888 (204) (26,673)
Operating lease liabilities, non-current (7,779) (11,780) (7,232)
Other long-term liabilities (7,158) 6,562 (1,477)
Net cash provided by operating activities 339,856 242,826 150,650
Cash flows from investing activities:      
Purchases of software and capitalized software development costs (51,129) (41,123) (45,173)
Acquisitions of HSA portfolios (452,241) (3,257) (70,583)
Purchases of property and equipment (2,084) (1,694) (3,371)
Net cash used in investing activities (505,454) (46,074) (119,127)
Cash flows from financing activities:      
Principal payments on long-term debt (561,875) (54,375) (8,750)
Proceeds from long-term debt 736,875 0 0
Payment of debt issuance costs (3,748) 0 0
Repurchases of common stock (121,493) 0 0
Settlement of client-held funds obligation, net (1,620) 865 (603)
Proceeds from exercise of common stock options 9,428 6,471 6,682
Net cash provided by (used in) financing activities 57,567 (47,039) (2,671)
Increase (decrease) in cash and cash equivalents (108,031) 149,713 28,852
Beginning cash and cash equivalents 403,979 254,266 225,414
Ending cash and cash equivalents 295,948 403,979 254,266
Supplemental cash flow data:      
Interest expense paid in cash 58,587 49,560 43,570
Income tax payments, net 26,069 35,352 1,526
Supplemental disclosures of non-cash investing and financing activities:      
Non-cash purchase consideration related to acquisitions of HSA portfolios 20,325 0 0
Purchases of software and capitalized software development costs included in accounts payable, accrued liabilities, or accrued compensation 5,971 3,145 3,595
Repurchases of common stock included in accrued liabilities 754 0 0
Purchases of property and equipment included in accounts payable or accrued liabilities 45 263 69
Increase in goodwill due to measurement period adjustments, net 0 0 2,309
Exercise of common stock options receivable $ 10 $ 429 $ 382