Cash Equivalents and Investments (Tables)

9 Months Ended

Oct. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Cash and Cash Equivalents

The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands):

	October 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	1,479,438	$	—	$	—	$	1,479,438
U.S. government securities	154,090		1		(1)		154,090
Time deposits	109,513		—		—		109,513
Commercial paper	27,070		2		—		27,072
Corporate notes and bonds	14,885		—		(1)		14,884
Total cash equivalents	1,784,996		3		(2)		1,784,997
Investments:
Corporate notes and bonds	1,770,898		2,476		(2,182)		1,771,192
U.S. government and agency securities	608,263		674		(1,021)		607,916
Commercial paper	341,828		228		(113)		341,943
Certificates of deposit	179,629		168		(9)		179,788
Total investments	2,900,618		3,546		(3,325)		2,900,839
Total cash equivalents and investments	$	4,685,614	$	3,549	$	(3,327)	$	4,685,836

	January 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents:
U.S. government securities	$	742,235	$	1	$	(2)	$	742,234
Money market funds	533,211		—		—		533,211
Time deposits	56,263		—		—		56,263
Total cash equivalents	1,331,709		1		(2)		1,331,708
Investments:
Corporate notes and bonds	1,549,151		1,959		(3,394)		1,547,716
U.S. government and agency securities	877,496		574		(4,653)		873,417
Commercial paper	353,525		154		(131)		353,548
Certificates of deposit	224,869		271		(15)		225,125
Total investments	3,005,041		2,958		(8,193)		2,999,806
Total cash equivalents and investments	$	4,336,750	$	2,959	$	(8,195)	$	4,331,514

Schedule of Debt Securities, Available-for-Sale

The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands):

	October 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	1,479,438	$	—	$	—	$	1,479,438
U.S. government securities	154,090		1		(1)		154,090
Time deposits	109,513		—		—		109,513
Commercial paper	27,070		2		—		27,072
Corporate notes and bonds	14,885		—		(1)		14,884
Total cash equivalents	1,784,996		3		(2)		1,784,997
Investments:
Corporate notes and bonds	1,770,898		2,476		(2,182)		1,771,192
U.S. government and agency securities	608,263		674		(1,021)		607,916
Commercial paper	341,828		228		(113)		341,943
Certificates of deposit	179,629		168		(9)		179,788
Total investments	2,900,618		3,546		(3,325)		2,900,839
Total cash equivalents and investments	$	4,685,614	$	3,549	$	(3,327)	$	4,685,836

	January 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Cash equivalents:
U.S. government securities	$	742,235	$	1	$	(2)	$	742,234
Money market funds	533,211		—		—		533,211
Time deposits	56,263		—		—		56,263
Total cash equivalents	1,331,709		1		(2)		1,331,708
Investments:
Corporate notes and bonds	1,549,151		1,959		(3,394)		1,547,716
U.S. government and agency securities	877,496		574		(4,653)		873,417
Commercial paper	353,525		154		(131)		353,548
Certificates of deposit	224,869		271		(15)		225,125
Total investments	3,005,041		2,958		(8,193)		2,999,806
Total cash equivalents and investments	$	4,336,750	$	2,959	$	(8,195)	$	4,331,514

Schedule of Available For Sale Securities Remaining Contractual Maturity

The estimated fair values of available-for-sale marketable debt securities, classified as short-term or long-term investments on the Company’s condensed consolidated balance sheets, by remaining contractual maturity, are as follows (in thousands):

	October 31, 2024
	Estimated Fair Value
Due within 1 year	$	2,008,062
Due in 1 year to 3 years	892,777
Total	$	2,900,839

Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value

The following tables show the fair values of, and the gross unrealized losses on, the Company’s available-for-sale marketable debt securities, classified by the length of time that the securities have been in a continuous unrealized loss position and aggregated by investment type, on the condensed consolidated balance sheets (in thousands):

	October 31, 2024
	Less than 12 Months				12 Months or Greater				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Cash equivalents:
U.S. government securities	$	60,252	$	(1)	$	—	$	—	$	60,252	$	(1)
Corporate notes and bonds	12,160		(1)		—		—		12,160		(1)
Total cash equivalents	72,412		(2)		—		—		72,412		(2)
Investments:
Corporate notes and bonds	802,043		(2,119)		69,203		(63)		871,246		(2,182)
U.S. government and agency securities	190,643		(622)		172,126		(399)		362,769		(1,021)
Commercial paper	111,609		(113)		—		—		111,609		(113)
Certificates of deposit	21,474		(9)		—		—		21,474		(9)
Total investments	1,125,769		(2,863)		241,329		(462)		1,367,098		(3,325)
Total cash equivalents and investments	$	1,198,181	$	(2,865)	$	241,329	$	(462)	$	1,439,510	$	(3,327)

	January 31, 2024
	Less than 12 Months				12 Months or Greater				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Cash equivalents:
U.S. government securities	$	338,893	$	(2)	$	—	$	—	$	338,893	$	(2)
Total cash equivalents	338,893		(2)		—		—		338,893		(2)
Investments:
Corporate notes and bonds	625,766		(1,259)		321,952		(2,135)		947,718		(3,394)
U.S. government and agency securities	525,408		(1,323)		191,863		(3,330)		717,271		(4,653)
Commercial paper	172,422		(131)		—		—		172,422		(131)
Certificates of deposit	71,813		(15)		—		—		71,813		(15)
Total investments	1,395,409		(2,728)		513,815		(5,465)		1,909,224		(8,193)
Total cash equivalents and investments	$	1,734,302	$	(2,730)	$	513,815	$	(5,465)	$	2,248,117	$	(8,195)