Income Taxes (Tables)

12 Months Ended

Feb. 02, 2025

Income Tax Disclosure [Abstract]

Schedule of Geographical Breakdown of Income Before Provision for Income Taxes

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

	Fiscal Year Ended
	2023		2024		2025
Domestic	$	39,004	$	(2,565)	$	32,566
International	52,804		93,151		115,268
Total	$	91,808	$	90,586	$	147,834

Schedule of Components of Provision for Income Taxes

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

	Fiscal Year Ended
	2023		2024		2025
Current:
Federal	$	—	$	2,407	$	268
State	5,999		9,678		5,474
Foreign	12,020		15,239		26,631
Total	$	18,019	$	27,324	$	32,373
Deferred:
Federal	$	(639)	$	—	$	—
State	(99)		—		—
Foreign	1,456		1,951		8,722
Total	$	718	$	1,951	$	8,722
Provision for income taxes	$	18,737	$	29,275	$	41,095

Schedule of Reconciliation of Income Taxes at the Federal Statutory Income Tax Rate to the Provision for Income Taxes

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
	2023		2024		2025
Tax at federal statutory rate	$	19,280	$	19,023	$	31,045
State tax, net of federal benefit	4,625		7,559		3,966
Stock-based compensation expense	(11,976)		(21,779)		(50,981)
Research and development tax credits	(26,634)		(19,033)		(36,379)
U.S. taxes on foreign income	19,065		10,956		12,701
Foreign-derived intangible income deduction	—		(8,706)		(2,882)
Foreign rate differential	(425)		(5,861)		4,327
Withholding tax	2,339		3,490		6,820
Change in valuation allowance	10,631		37,529		69,432
Non-deductible expenses	2,091		2,943		2,646
Other	(259)		3,154		400
Provision for income taxes	$	18,737	$	29,275	$	41,095

Schedule of 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
	2024		2025
Deferred tax assets:
Net operating loss carryforwards	$	111,750	$	32,227
Tax credit carryover	196,288		248,502
Accruals and reserves	31,827		34,259
Deferred revenue	108,558		110,176
Stock-based compensation expense	17,041		19,067
ASC 842 lease liabilities	40,101		42,375
Capitalized research and development	297,016		430,114
Other	3,117		3,240
Total deferred tax assets	$	805,698	$	919,960
Valuation allowance	(661,783)		(755,509)
Total deferred tax assets, net of valuation allowance	$	143,915	$	164,451
Deferred tax liabilities:
Depreciation and amortization	$	(48,497)	$	(62,494)
Deferred commissions	(65,192)		(70,219)
ASC 842 right-of-use assets	(34,729)		(39,552)
Acquired intangibles and goodwill	(1,428)		—
Interest income	(6,584)		(13,423)
Total deferred tax liabilities	$	(156,430)	$	(185,688)
Net deferred tax liabilities	$	(12,515)	$	(21,237)

Schedule of Activity Related to Unrecognized Tax Benefits

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

	Fiscal Year Ended
	2023		2024		2025
Gross unrecognized tax benefits—beginning balance	$	51,582	$	68,897	$	82,115
Decreases related to tax positions taken during prior years	—		(274)		(1,597)
Increases related to tax positions taken during prior years	2,172		—		3,193
Decreases related to tax positions taken during current year	—		(16)		—
Increases related to tax positions taken during current year	15,143		13,508		17,679
Gross unrecognized tax benefits—ending balance	$	68,897	$	82,115	$	101,390