Income Taxes (Tables)

12 Months Ended

Jan. 31, 2026

Income Tax Disclosure [Abstract]

Schedule of Components of Pre-Tax Income (Loss)

The domestic and foreign components of pre-tax income were as follows:

	Year Ended January 31,
(in thousands)	2026		2025		2024
U.S.	$	217,305	$	179,128	$	54,551
International	130,023		68,813		39,128
Income before income taxes	$	347,328	$	247,941	$	93,679

Schedule of Income Tax Provision

The components of our income tax provision (benefit) were as follows:

	Year Ended January 31,
(in thousands)	2026		2025		2024
Current
Federal	$	786	$	4,758	$	6,390
State	3,375		7,936		2,018
Foreign	29,583		6,105		4,974
Total current	33,744		18,799		13,382
Deferred
Federal	5,819		(747,082)		21
State	9,495		(94,945)		2
Foreign	(10,815)		3,284		6,294
Total deferred	4,499		(838,743)		6,317
Provision for (benefit from) income taxes	$	38,243	$	(819,944)	$	19,699

Schedule of Reconciliation Federal Statutory Rate

A reconciliation of the U.S. federal statutory income tax rate to our effective tax rate pursuant to the disclosure requirements of ASU 2023-09 for the year ended January 31, 2026 was as follows:

	Year Ended January 31,
(in thousands, except percentages)	2026
U.S. federal statutory tax rate	$	72,939	21.0	%
State and local income taxes, net of federal income tax effect (1)	6,383		1.8
Foreign tax effects
Ireland
Foreign tax rate differential	(6,616)		(1.9)
Changes in valuation allowance	(23,502)		(6.8)
Other	5,331		1.5
Other foreign jurisdictions	8,331		2.4
Effect of cross-border tax laws
Dual jurisdiction deferred taxes	6,702		1.9
Other	2,713		0.8
Nontaxable or nondeductible items
Stock-based compensation	(17,530)		(5.0)
Nondeductible compensation	23,293		6.7
Permanent book/tax differences	2,249		0.6
Tax credits
Research and development credits	(56,034)		(16.1)
Change in valuation allowance	(9,185)		(2.6)
Other adjustments	(3,259)		(0.9)
Changes in unrecognized tax benefits	26,428		7.6
Effective tax rate	$	38,243	11.0	%

(1) State taxes in California, Pennsylvania, New York and New York City made up the majority (greater than 50 percent) of the tax effect in this category.

The following table presents the required disclosures prior to our adoption of ASU 2023-09 and provides a reconciliation of the statutory federal income tax rate to our effective tax rate for the years ended January 31, 2025 and 2024:

	Year Ended January 31,
(in percentage)	2025		2024
U.S. statutory rate	21.0	%	21.0	%
State taxes	4.0		2.4
Foreign tax rate differential	0.5		37.9
Foreign-derived intangible income deduction	(3.8)		(11.7)
Stock-based compensation	7.9		81.8
Change in valuation allowance	(331.7)		(102.5)
Dual jurisdiction deferred taxes	(2.9)		36.0
Research and development credits	(17.3)		(46.0)
Other deferred adjustment	(10.7)		(1.2)
Other	2.3		3.3
Effective tax rate	(330.7)	%	21.0	%

Schedule of Cash Paid for Income Taxes

Cash paid for income taxes, net of refunds received, by jurisdiction pursuant to the disclosure requirements of ASU 2023-09 for the year ended January 31, 2026 was as follows:

	Year Ended January 31,
(in thousands)	2026
State and local jurisdictions	$	2,008
Foreign	10,938
Total cash taxes paid, net of refunds	$	12,946

Schedule of Components of Net Deferred Tax Balances

The significant components of net deferred tax balances were as follows:

	January 31,
(in thousands)	2026		2025
Deferred tax assets
Net operating loss carryforwards	$	482,506	$	486,505
Accruals and reserves	18,521		16,772
Stock-based compensation	37,114		42,949
Research and development credits	231,718		179,275
Capitalized research and development expenses	295,228		350,729
Other	69,391		54,286
Total deferred tax assets	1,134,478		1,130,516
Less: Valuation allowance	(88,918)		(112,847)
Deferred tax assets, net of valuation allowance	1,045,560		1,017,669
Deferred tax liabilities
Deferred contract acquisition costs	(125,660)		(121,678)
Fixed assets and intangible assets	(65,237)		(54,137)
Other	(40,925)		(21,980)
Total deferred tax liabilities	(231,822)		(197,795)
Net deferred tax assets / (liabilities)	$	813,738	$	819,874

Schedule of Total Unrecognized Tax Benefits

A reconciliation of the beginning and ending balance of total unrecognized tax benefits was as follows:

	Year Ended January 31,
(in thousands)	2026		2025		2024
Unrecognized tax benefits, beginning balance	$	75,546	$	60,744	$	47,946
Gross increase for tax positions of prior years	2,675		—		4,368
Gross decrease for tax positions of prior years	—		(307)		(156)
Gross increase for tax positions of current year	24,167		15,109		8,586
Unrecognized tax benefits, ending balance	$	102,388	$	75,546	$	60,744

Schedule of Valuation Allowance

The following table represents the rollforward of our valuation allowance:

	Year Ended January 31,
(in thousands)	2026		2025		2024
Beginning balance	$	112,847	$	934,816	$	1,032,016
Valuation allowance charged to income tax provision	(23,929)		(821,969)		(97,200)
Ending balance	$	88,918	$	112,847	$	934,816