Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jul. 31, 2024
Jul. 31, 2023
Cash flow from operating activities:    
Net income $ 12,475 $ 13,293
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 9,118 7,329
Provision for credit losses 11,103 1,149
Stock-based compensation, net of amounts capitalized 28,947 28,175
Non-cash lease expense 4,164 2,998
Deferred income taxes (40) (3,402)
Net amortization/accretion on marketable securities (7,436) (7,998)
Other non-cash items, net 216 39
Changes in operating assets and liabilities:    
Accounts receivable 67,292 26,474
Prepaid expenses and other current assets (15,289) 7,917
Other non-current assets (1,473) (4,874)
Accounts payable (9,268) (7,897)
Operating lease liabilities (2,665) (2,896)
Accrued expenses and other current liabilities (26,683) (25,632)
Deferred revenue (7,858) (2,156)
Other liabilities 431 616
Net cash provided by operating activities 63,034 33,135
Cash flow from investing activities:    
Purchases of marketable securities (136,136) (288,727)
Proceeds from sales and maturities of marketable securities 292,298 206,291
Purchases of property and equipment (4,028) (4,413)
Capitalized internal-use software (6,291) (5,744)
Net cash provided by (used in) investing activities 145,843 (92,593)
Cash flow from financing activities:    
Proceeds from issuance of common stock upon exercise of stock options 17,235 21,350
Proceeds from issuance of common stock upon ESPP purchases 3,403 3,970
Payments for repurchase of Class A common shares (273,873) 0
Net cash (used in) provided by financing activities (253,235) 25,320
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash (1,247) (89)
Net change in cash, cash equivalents and restricted cash (45,605) (34,227)
Cash, cash equivalents and restricted cash at beginning of period 172,429 188,387
Cash, cash equivalents and restricted cash at end of period 126,824 154,160
Supplemental disclosure of cash flow information:    
Cash paid for income taxes, net of refunds 3,646 2,999
Supplemental disclosure for non-cash investing and financing:    
Right-of-use assets obtained in exchange for operating lease liabilities 21,439 17,345
Accrued purchases of property and equipment 1,146 1,008
Stock-based compensation expense capitalized in internal-use software 1,182 1,544
Accrued asset retirement obligations 0 119
Accrued excise tax on share repurchases $ 2,086 $ 0