Income Taxes (Tables)

12 Months Ended

Jan. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

U.S. and foreign components of consolidated loss before income taxes were as follows (in thousands):

	Year Ended January 31,
	2025		2024		2023
Domestic	$	(1,223,181)	$	(356,015)	$	(296,975)
Foreign	74,729		28,546		27,825
Loss before income taxes	$	(1,148,452)	$	(327,469)	$	(269,150)

The provision for income taxes was as follows (in thousands):

	Year Ended January 31,
	2025		2024		2023
Current:
Federal	$	(2,330)	$	2,336	$	—
State	(1,315)		2,818		189
Foreign	8,772		19,598		3,959
Total current provision for income taxes	5,127		24,752		4,148
Deferred:
Federal	—		—		—
State	—		—		—
Foreign	1,241		1,937		4,448
Total deferred provision for income taxes	1,241		1,937		4,448
Total provision for income taxes	$	6,368	$	26,689	$	8,596

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows:

	Year Ended January 31,
	2025		2024		2023
Provision at federal statutory rate	21.0	%	21.0	%	21.0	%
State, net of federal benefit	3.2		—		3.5
Stock-based compensation	10.4		0.3		(0.3)
Impact of foreign operations	2.9		(5.1)		(2.8)
Change in valuation allowance	(42.8)		(14.5)		(27.8)
Research and development credits	4.9		3.9		4.0
Non-deductible expenses	—		(12.8)		—
Other adjustments	(0.2)		(1.0)		(0.8)
Effective income tax rate	(0.6)	%	(8.2)	%	(3.2)	%

Schedule of Deferred Tax Assets and Liabilities

The significant components of the Company’s deferred tax assets and liabilities were as follows (in thousands):

	January 31,
	2025		2024
Deferred tax assets:
Net operating loss carryforwards	$	330,908	$	131,449
Capitalized research and development expenditures	208,690		74,843
Research and development credit carryforward	117,837		52,152
Deferred revenue	151,326		119,531
Stock-based compensation	68,587		3,716
Operating lease liabilities	4,863		7,063
Other	26,505		9,578
Total deferred tax assets	908,716		398,332
Less: valuation allowance	(863,039)		(371,027)
Total deferred tax assets, net	45,677		27,305
Deferred tax liabilities:
State income taxes	(28,936)		(13,493)
Capitalized internal-use software	(5,472)		(3,769)
ROU assets	(4,219)		(6,402)
Other	(18,394)		(13,744)
Total deferred tax liabilities	(57,021)		(37,408)
Net deferred tax assets (liabilities)	$	(11,344)	$	(10,103)

Schedule of Unrecognized Tax Benefits Roll Forward

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in thousands):

	January 31,
	2025		2024		2023
Unrecognized tax benefits at beginning of period	$	31,263	$	11,206	$	7,811
Decreases related to prior year tax positions	(567)		—		—
Increases related to prior year tax positions	—		63		463
Increases related to current year tax positions	15,928		19,994		2,932
Unrecognized tax benefits at end of period	$	46,624	$	31,263	$	11,206