Income Taxes (Tables)

12 Months Ended

Feb. 04, 2024

Income Tax Disclosure [Abstract]

Schedule Of Geographical Breakdown Of Income (Loss) Before Provision For Income Taxes

The geographical breakdown of income (loss) before provision for income taxes is as follows (in thousands):

	Fiscal Year Ended
	2022		2023		2024
Domestic	$	(192,058)	$	39,004	$	(2,565)
International	63,562		52,804		93,151
Total	$	(128,496)	$	91,808	$	90,586

Schedule of Components of Provision for Income Taxes

The components of the provision for income taxes are as follows (in thousands):

	Fiscal Year Ended
	2022		2023		2024
Current:
Federal	$	—	$	—	$	2,407
State	592		5,999		9,678
Foreign	12,525		12,020		15,239
Total	$	13,117	$	18,019	$	27,324
Deferred:
Federal	$	—	$	(639)	$	—
State	—		(99)		—
Foreign	1,646		1,456		1,951
Total	$	1,646	$	718	$	1,951
Provision for income taxes	$	14,763	$	18,737	$	29,275

Schedule of Reconciliation of the Federal Statutory Income Tax Rate and Effective Income Tax Rate

The reconciliation of income taxes at the federal statutory income tax rate to the provision for income taxes is as follows (in thousands):

	Fiscal Year Ended
	2022		2023		2024
Tax at federal statutory rate	$	(26,984)	$	19,280	$	19,023
State tax, net of federal benefit	468		4,625		7,559
Stock-based compensation expense	(19,658)		(11,976)		(21,779)
Research and development tax credits	(16,783)		(26,634)		(19,033)
U.S. taxes on foreign income	25,059		19,065		10,956
Foreign-derived intangible income deduction	—		—		(8,706)
Foreign rate differential	(1,698)		(425)		(5,861)
Withholding tax	143		2,339		3,490
Change in valuation allowance	48,270		10,631		37,529
Non-deductible expenses	4,381		2,091		2,943
Other	1,565		(259)		3,154
Provision for income taxes	$	14,763	$	18,737	$	29,275

Significant Components of Deferred Tax Assets and Liabilities

The significant components of our deferred tax assets and liabilities were as follows (in thousands):

	At the End of Fiscal
	2023		2024
Deferred tax assets:
Net operating loss carryforwards	$	198,495	$	111,750
Tax credit carryover	171,775		196,288
Accruals and reserves	34,506		31,827
Deferred revenue	87,026		108,558
Stock-based compensation expense	25,564		17,041
ASC 842 lease liabilities	40,772		40,101
Capitalized research and development	154,027		297,016
Other	4,950		3,117
Total deferred tax assets	$	717,115	$	805,698
Valuation allowance	(598,997)		(661,783)
Total deferred tax assets, net of valuation allowance	$	118,118	$	143,915
Deferred tax liabilities:
Depreciation and amortization	$	(31,744)	$	(48,497)
Deferred commissions	(53,421)		(65,192)
Convertible debt	—		—
ASC 842 right-of-use assets	(36,366)		(34,729)
Acquired intangibles and goodwill	(4,702)		(1,428)
Interest income	(2,521)		(6,584)
Total deferred tax liabilities	$	(128,754)	$	(156,430)
Net deferred tax liabilities	$	(10,636)	$	(12,515)

Summary of Activity Related to Unrecognized Tax Benefits

The activity related to the unrecognized tax benefits is as follows (in thousands):

	Fiscal Year Ended
	2022		2023		2024
Gross unrecognized tax benefits—beginning balance	$	39,571	$	51,582	$	68,897
Decreases related to tax positions taken during prior years	(173)		—		(274)
Increases related to tax positions taken during prior years	1,201		2,172		—
Increases related to tax positions taken during current year	10,983		15,143		13,508
Gross unrecognized tax benefits—ending balance	$	51,582	$	68,897	$	82,115