Stockholders' Equity

3 Months Ended

Apr. 30, 2024

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

Stock Repurchase Program

On September 1, 2023, our board of directors authorized a stock repurchase program, pursuant to which we may repurchase from time to time up to $500.0 million of our outstanding shares of Class A common stock. Repurchases under the program may be effected through open market purchases, privately-negotiated transactions, or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Exchange Act. The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternate uses of capital. This authorization expires on March 1, 2025, subject to modification by the board of directors in the future.

During the three months ended April 30, 2024, we repurchased 0.9 million shares of our Class A common stock at an average price of $23.46 per share (inclusive of brokerage commission).

Charitable Donations of Class A Common Stock

We have reserved 2.8 million shares of our Class A common stock to fund our social impact and environmental, social, and governance initiatives. We contributed 0.3 million shares of our Class A common stock during the three months ended April 30, 2024 and 0.3 million shares of our Class A common stock during the three months ended April 30, 2023 to a donor-advised fund in connection with our Pledge 1% commitment. The aggregate fair values of the shares on the respective contribution dates of $6.6 million and $4.2 million were recorded within general and administrative expense in the condensed consolidated statements of operations for the three months ended April 30, 2024 and 2023, respectively.

Accumulated Other Comprehensive Income

For the three months ended April 30, 2024 and 2023, changes in the components of accumulated other comprehensive income were as follows (in thousands):

	Foreign Currency Translation Adjustments		Unrealized Loss on Marketable Securities		Accumulated Other Comprehensive Income
Balance as of January 31, 2024	$	8,925	$	(100)	$	8,825
Other comprehensive loss, net of tax	(3,574)		(511)		(4,085)
Balance as of April 30, 2024	$	5,351	$	(611)	$	4,740

	Foreign Currency Translation Adjustments		Unrealized Gain (Loss) on Marketable Securities		Accumulated Other Comprehensive Income
Balance as of January 31, 2023	$	8,231	$	(619)	$	7,612
Other comprehensive income, net of tax	2,319		143		2,462
Balance as of April 30, 2023	$	10,550	$	(476)	$	10,074