v3.25.1
Investments and Fair Value Measurements (Tables)
 3 Months Ended
Apr. 30, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities that are Measured at Fair Value on a Recurring Basis
The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis are as follows (in thousands):
April 30, 2025January 31, 2025
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets
Cash equivalents
Money market funds$1,822,048 $— $— $1,822,048 $1,470,040 $— $— $1,470,040 
U.S. Treasury securities— 2,489,005 — 2,489,005 — 2,490,097 — 2,490,097 
Other assets
Deferred compensation investments6,594 — — 6,594 5,496 — — 5,496 
Total assets$1,828,642 $2,489,005 $— $4,317,647 $1,475,536 $2,490,097 $— $3,965,633 
Schedule of Changes in Strategic Investments
The Company’s investments of privately held securities as of April 30, 2025, consisted of the following (in thousands):
Privately held equity securitiesPrivately held debt and other securities Total
Initial total cost$68,514 $1,000 $69,514 
Cumulative net gains1,825 — 1,825 
Carrying amount, end of period$70,339 $1,000 $71,339 
The Company’s investments of privately held securities as of January 31, 2025, consisted of the following (in thousands):
Privately held equity securitiesPrivately held debt and other securities Total
Initial total cost$68,140 $1,000 $69,140 
Cumulative net gains3,404 — 3,404 
Carrying amount, end of period$71,544 $1,000 $72,544 
The components of gains and losses on strategic investments were as follows (in thousands):
Three Months Ended April 30,
20252024
Unrealized losses recognized on privately held equity securities, including impairment$(1,579)$— 
Unrealized losses, net$(1,579)$— 
Realized gains recognized on sales of privately held equity securities$— $6,881 
Realized gains, net$— $6,881 
Gains (losses) on strategic investments, net$(1,579)$6,881 
Unrealized losses recognized during the reporting period on privately held equity securities still held at the reporting date$(1,579)$—