Financial Instruments (Tables)

6 Months Ended

Aug. 03, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Cash Equivalents, Marketable Securities and Restricted Cash

The following tables summarize our assets that were measured at fair value on a recurring basis by significant investment categories and their classification within the fair value hierarchy and in our condensed consolidated balance sheets at the end of fiscal 2025 and the second quarter of fiscal 2026 (in thousands):

	At the End of Fiscal 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash Equivalents		Marketable Securities		Restricted Cash
Level 1
Money market accounts	$	—	$	—	$	—	$	264,067	$	258,750	$	—	$	5,317
Level 2
U.S. government treasury notes	360,578		735		(146)		361,167		27,663		333,504		—
U.S. government agencies	1,400		—		—		1,400		—		1,400		—
Corporate debt securities	395,532		1,903		(55)		397,380		—		397,380		—
Foreign government bonds	700		3		—		703		—		703		—
Asset-backed securities	64,926		331		(7)		65,250		—		65,250		—
Total	$	823,136	$	2,972	$	(208)	$	1,089,967	$	286,413	$	798,237	$	5,317

	At the End of the Second Quarter of Fiscal 2026
	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Cash Equivalents		Marketable Securities		Restricted Cash		Prepaid Expenses and Other Current Assets
Level 1
Money market accounts	$	—	$	—	$	—	$	245,652	$	233,375	$	—	$	12,277	$	—
Equity security (1)	24,999		30,401		—		55,400		—		—		—		55,400
Level 2
U.S. government treasury notes	304,858		989		(31)		305,816		45,636		260,180		—		—
U.S. government agencies	9,201		25		—		9,226		—		9,226		—		—
Corporate debt securities	326,535		2,392		—		328,927		—		328,927		—		—
Foreign government bonds	1,685		1		—		1,686		—		1,686		—		—
Asset-backed securities	47,409		347		—		47,756		—		47,756		—		—
Municipal bonds	1,883		3		—		1,886		—		1,886		—		—
Total	$	716,570	$	34,158	$	(31)	$	996,349	$	279,011	$	649,661	$	12,277	$	55,400

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(1) Subject to short-term lock-up restriction.

Schedule of Amortized Cost and Estimated Fair Value

The amortized cost and estimated fair value of our marketable securities are shown below by contractual maturity (in thousands):

	At the End of the Second Quarter of Fiscal 2026
	Amortized Cost		Fair Value
Due within one year	$	199,371	$	199,744
Due in one to five years	443,865		447,187
Due in five to ten years	2,699		2,730
Total	$	645,935	$	649,661

Schedule of Gross Unrealized Losses and Fair Values

The following table presents the fair values and gross unrealized losses for those investments that were in a continuous unrealized loss position at the end of fiscal 2025 and the second quarter of fiscal 2026, aggregated by investment category (in thousands):

	At the End of Fiscal 2025
	Less than 12 months				Greater than 12 months				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. government treasury notes	$	99,397	$	(146)	$	—	$	—	$	99,397	$	(146)
Corporate debt securities	33,619		(55)		1,998		—		35,617		(55)
Asset-backed securities	10,702		(7)		30		—		10,732		(7)
Total	$	143,718	$	(208)	$	2,028	$	—	$	145,746	$	(208)

	At the End of the Second Quarter of Fiscal 2026
	Less than 12 months
	Fair Value		Unrealized Loss
U.S. government treasury notes	$	45,951	$	(31)
Corporate debt securities	1,483		—
Asset-backed securities	671		—
Total	$	48,105	$	(31)