0001585521-24-000181 | 10-Q | XBRL Viewer | Zoom Video Communications INC

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Revenue Recognition - Remaining Performance Obligation (Details) $ in Millions	Jul. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 3,778.3
Billed Consideration
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	1,406.7
Unbilled Consideration
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 2,371.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-08-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation (as a percent)	60.00%
Revenue remaining performance obligation, expected timing of satisfaction period (in months)	12 months

Income Taxes

6 Months Ended

Jul. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

We compute our provision for income taxes by applying the estimated annual effective tax rate to year-to-date ordinary income and adjust the provision for discrete tax items recorded in the period. In each quarter, we update the estimated annual effective tax rate and make a year-to-date adjustment to the provision.

The following table provides details of the provision for income taxes:


	Three Months Ended July 31,						Six Months Ended July 31,
	2024			2023			2024			2023

	(in thousands, except percentages)
Income before provision for income taxes	$	292,889		$	250,373		$	584,853		$	293,603
Provision for income taxes	73,874			68,399			149,530			96,185
Effective tax rate	25.2		%	27.3		%	25.6		%	32.8		%

The year-over-year change in effective tax rate for the three and six months ended July 31, 2024 was due primarily to the increase in income before taxes and a decrease in net tax shortfalls and windfalls on stock-based compensation. For both the three and six months ended July 31, 2024 and July 31, 2023, the effective tax rate differed from the U.S. federal statutory rate due primarily to the foreign-derived intangible income deduction and research credits offset by tax shortfalls on stock-based compensation, state income taxes, and other compensation-related permanent differences.

As required by the 2017 Tax Cuts and Jobs Act, we started capitalizing research and development expenses incurred beginning in fiscal year 2023. These expenses are capitalized and amortized over five years for domestic research and fifteen years for international research. The mandatory capitalization requirement increases our cash tax liabilities but also decreases our effective tax rate due to increasing the foreign-derived intangible income deduction. The cash flow impact will decrease over time as capitalized research and development expenditures continue to amortize.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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+ Details

Balance Sheet Components - Other Noncurrent Assets (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jan. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts receivable, noncurrent	$ 14,743	$ 26,099
Intangible assets subject to amortization, net	40,209	46,935
Indefinite-lived intangible assets	25,239	25,239
Prepaid expenses, noncurrent	25,574	23,351
Income tax receivable, noncurrent	9,800	0
Other	11,230	11,853
Other assets, noncurrent	$ 126,795	$ 133,477

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Cash flows from operating activities:
Net income	$ 435,323	$ 197,418
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense	467,375	543,854
Amortization of deferred contract acquisition costs	139,813	138,744
Depreciation and amortization	55,751	50,202
Deferred income taxes	(57,866)	13,975
Gains on strategic investments, net	(20,461)	(33,945)
Provision for accounts receivable allowances	12,518	22,204
Unrealized foreign exchange losses	7,229	4,683
Non-cash operating lease cost	11,957	10,657
Amortization of discount/premium on marketable securities	(35,840)	(18,014)
Other	(1,225)	(3,415)
Changes in operating assets and liabilities:
Accounts receivable	7,637	13,631
Prepaid expenses and other assets	61,035	(83,888)
Deferred contract acquisition costs	(110,719)	(92,927)
Accounts payable	267	4,999
Accrued expenses and other liabilities	(53,967)	(58,951)
Deferred revenue	133,629	56,332
Operating lease liabilities, net	(14,931)	(11,101)
Net cash provided by operating activities	1,037,525	754,458
Cash flows from investing activities:
Purchases of marketable securities	(2,181,315)	(1,826,166)
Maturities of marketable securities	1,644,169	1,543,120
Purchases of property and equipment	(102,742)	(68,426)
Purchases of strategic investments	(13,500)	(51,000)
Proceeds from strategic investments	4,654	107,244
Cash paid for acquisition, net of cash acquired	0	(204,918)
Net cash used in investing activities	(648,734)	(500,146)
Cash flows from financing activities:
Proceeds from exercise of stock options	1,855	7,686
Proceeds from issuance of common stock for employee stock purchase plan	34,263	32,513
Proceeds from employee equity transactions to be remitted to employees and tax authorities, net	2,859	1,259
Cash paid for repurchases of common stock	(437,693)	0
Net cash (used in) provided by financing activities	(398,716)	41,458
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(6,146)	(3,781)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(16,071)	291,989
Cash, cash equivalents, and restricted cash – beginning of period	1,565,380	1,100,243
Cash, cash equivalents, and restricted cash – end of period	1,549,309	1,392,232
Reconciliation of cash, cash equivalents, and restricted cash within the condensed consolidated balance sheets to the amounts shown in the condensed consolidated statements of cash flows above:
Cash and cash equivalents	1,539,457	1,380,121
Restricted cash, current included in prepaid expenses and other current assets	9,852	11,856
Restricted cash, noncurrent included in other assets, noncurrent	0	255
Total cash, cash equivalents, and restricted cash	$ 1,549,309	$ 1,392,232

Revenue Recognition - Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023	Jan. 31, 2024
Revenue from Contract with Customer [Abstract]
Unbilled accounts receivable	$ 119.9		$ 119.9		$ 124.8
Revenue recognized included in deferred revenue	$ 609.4	$ 593.9	$ 955.4	$ 939.2

Commitments and Contingencies (Details) $ in Millions				6 Months Ended	12 Months Ended
Commitments and Contingencies (Details) $ in Millions	Jul. 30, 2020 defendant	Jun. 11, 2020 defendant	Apr. 08, 2020 defendant	Jul. 31, 2024 USD ($)	Jan. 31, 2024 USD ($)	Jul. 17, 2023 USD ($)	Jan. 31, 2023 USD ($)	Nov. 17, 2021 lawsuit
Other Commitments [Line Items]
Increase in purchase obligations with terms of greater than 12 months				$ 75.4
Number of derivative lawsuits \| lawsuit								3
Pending Litigation \| Violation Of Securities Act Section 10(b), 20(a), and Rule 10b-5
Other Commitments [Line Items]
Amount of payment agreed upon						$ 150.0
Settled Litigation \| Violation Of Securities Act Section 10(b), 20(a), and Rule 10b-5
Other Commitments [Line Items]
Payments for legal settlements					$ 60.0
Payments for legal settlements, gross					150.0
Payments for legal settlements, net of insurance payment					90.0
Loss contingency accrual							$ 7.5
Aggregate legal settlement charge					$ 52.5
Violation Of Securities Act Section 10(b), 20(a), and Rule 10b-5
Other Commitments [Line Items]
Loss contingency, number of defendants \| defendant	8	9	2

Investments (Tables)

6 Months Ended

Jul. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Marketable Securities

As of July 31, 2024 and January 31, 2024, our marketable securities consisted of the following:


	As of July 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

	(in thousands)





Commercial paper	$	19,636	$	—	$	—	$	19,636
Agency bonds	1,770,254		1,049		(2,591)		1,768,712
Corporate and other debt securities	711,321		1,434		(532)		712,223
U.S. government agency securities	3,356,712		5,993		(3,146)		3,359,559
Treasury bills	120,449		13		(17)		120,445
Marketable securities	$	5,978,372	$	8,489	$	(6,286)	$	5,980,575


	As of January 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

	(in thousands)


Commercial paper	$	41,564	$	—	$	—	$	41,564
Agency bonds	1,667,601		2,426		(3,344)		1,666,683
Corporate and other debt securities	663,122		1,161		(1,124)		663,159
U.S. government agency securities	3,003,224		7,859		(6,241)		3,004,842
Treasury bills	27,992		—		(7)		27,985
Marketable securities	$	5,403,503	$	11,446	$	(10,716)	$	5,404,233

Schedule of Contractual Maturities of Marketable Securities

The following table presents the contractual maturities of our marketable securities as of July 31, 2024 and January 31, 2024:


	As of
	July 31, 2024		January 31, 2024

	(in thousands)
Less than one year	$	3,268,071	$	2,883,598
Due in one to five years	2,712,504		2,520,635
Total	$	5,980,575	$	5,404,233

Schedule of Strategic Investments

Strategic investments by form and measurement category as of July 31, 2024 were as follows:


	Measurement Category
	Fair Value		Measurement Alternative		Equity Method		Total

	(in thousands)
Equity securities	$	26,880	$	309,650	$	97,596	$	434,126
Debt securities	4,403		—		—		4,403
Strategic investments	$	31,283	$	309,650	$	97,596	$	438,529

Strategic investments by form and measurement category as of January 31, 2024 were as follows:


	Measurement Category
	Fair Value		Measurement Alternative		Equity Method		Total

	(in thousands)
Equity securities	$	23,160	$	285,509	$	96,725	$	405,394
Debt securities	3,828		—		—		3,828
Strategic investments	$	26,988	$	285,509	$	96,725	$	409,222

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Fair Value Measurements (Tables)

6 Months Ended

Jul. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Measured at Fair Value on Recurring Basis

The following tables present information about our financial instruments that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value:


	As of July 31, 2024
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	898,494	$	898,494	$	—	$	—
Treasury bills	113,107		—		113,107		—
Commercial paper	1,988		—		1,988		—

Cash equivalents	1,013,589		898,494		115,095		—
Commercial paper	19,636		—		19,636		—
Agency bonds	1,768,712		—		1,768,712		—
Corporate and other debt securities	712,223		—		712,223		—
U.S. government agency securities	3,359,559		—		3,359,559		—
Treasury bills	120,445		—		120,445		—
Marketable securities	5,980,575		—		5,980,575		—
Certificate of deposit included in prepaid expenses and other current assets	251		—		251		—


Publicly held equity securities included in strategic investments	26,880		26,880		—		—
Privately held debt securities included in strategic investments	4,403		—		—		4,403
Total financial assets	$	7,025,698	$	925,374	$	6,095,921	$	4,403


	As of January 31, 2024
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	851,100	$	851,100	$	—	$	—
Treasury bills	100,629		—		100,629		—
Corporate debt securities	2,715		—		2,715		—
Agency bonds	20,155		—		20,155		—
Cash equivalents	974,599		851,100		123,499		—
Commercial paper	41,564		—		41,564		—
Agency bonds	1,666,683		—		1,666,683		—
Corporate and other debt securities	663,159		—		663,159		—
U.S. government agency securities	3,004,842		—		3,004,842		—
Treasury bills	27,985		—		27,985		—
Marketable securities	5,404,233		—		5,404,233		—


Certificates of deposit included in other assets, noncurrent	254		—		254		—
Publicly held equity securities included in strategic investments	23,160		23,160		—		—
Privately held debt securities included in strategic investments	3,828		—		—		3,828
Total financial assets	$	6,406,074	$	874,260	$	5,527,986	$	3,828

Investments - Strategic Investments (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jan. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities	$ 4,403	$ 3,828
Fair value of strategic investments	31,283	26,988
Measurement Alternative	309,650	285,509
Equity Method	97,596	96,725
Total equity securities	434,126	405,394
Total strategic investments	438,529	409,222
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity securities	26,880	23,160
Debt securities	$ 4,403	$ 3,828

- Definition

Fair value of investment other than investment in equity security, investment in debt security and equity method investment. Includes, but is not limited to, investment in certain entities that calculate net asset value per share. Example includes, but is not limited to, investment in hedge fund, venture capital fund, private equity fund, and real estate partnership or fund.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
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+ Details

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jan. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 129,490	$ 188,259
Restricted cash	9,852	6,874
Other	10,032	24,049
Prepaid expenses and other current assets	$ 149,374	$ 219,182

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive (Loss) Income	Retained Earnings
Beginning balance (in shares) at Jan. 31, 2023		293,822,850
Beginning balance at Jan. 31, 2023	$ 6,206,607	$ 294	$ 4,104,880	$ (50,385)	$ 2,151,818
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		1,044,922
Issuance of common stock upon exercise of stock options	7,686	$ 1	7,685
Issuance of common stock upon release of restricted stock units (in shares)		5,535,351
Issuance of common stock upon release of restricted stock units	0	$ 6	(6)
Issuance of common stock for employee stock purchase plan (in shares)		552,904
Issuance of common stock for employee stock purchase plan	32,513	$ 1	32,512
Stock-based compensation expense	544,450		544,450
Other comprehensive (loss) income	13,678			13,678
Net income	197,418				197,418
Ending balance (in shares) at Jul. 31, 2023		300,956,027
Ending balance at Jul. 31, 2023	7,002,352	$ 302	4,689,521	(36,707)	2,349,236
Beginning balance (in shares) at Apr. 30, 2023		297,455,726
Beginning balance at Apr. 30, 2023	6,524,107	$ 298	4,391,418	(34,871)	2,167,262
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		542,954
Issuance of common stock upon exercise of stock options	3,417		3,417
Issuance of common stock upon release of restricted stock units (in shares)		2,404,443
Issuance of common stock upon release of restricted stock units	0	$ 3	(3)
Issuance of common stock for employee stock purchase plan (in shares)		552,904
Issuance of common stock for employee stock purchase plan	32,513	$ 1	32,512
Stock-based compensation expense	262,177		262,177
Other comprehensive (loss) income	(1,836)			(1,836)
Net income	181,974				181,974
Ending balance (in shares) at Jul. 31, 2023		300,956,027
Ending balance at Jul. 31, 2023	7,002,352	$ 302	4,689,521	(36,707)	2,349,236
Beginning balance (in shares) at Jan. 31, 2024		307,558,353
Beginning balance at Jan. 31, 2024	$ 8,019,406	$ 307	5,228,756	1,063	2,789,280
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)	221,827	221,827
Issuance of common stock upon exercise of stock options	$ 1,855		1,855
Issuance of common stock upon release of restricted stock units (in shares)		6,778,788
Issuance of common stock upon release of restricted stock units	0	$ 7	(7)
Issuance of common stock for employee stock purchase plan (in shares)		666,051
Issuance of common stock for employee stock purchase plan	34,263	$ 1	34,262
Repurchases of common stock (in shares)		(7,229,395)
Repurchases of common stock	(437,693)	$ (7)	(437,686)
Stock-based compensation expense	470,965		470,965
Other comprehensive (loss) income	1,128			1,128
Net income	435,323				435,323
Ending balance (in shares) at Jul. 31, 2024		307,995,624
Ending balance at Jul. 31, 2024	8,525,247	$ 308	5,298,145	2,191	3,224,603
Beginning balance (in shares) at Apr. 30, 2024		309,268,684
Beginning balance at Apr. 30, 2024	8,298,824	$ 309	5,310,417	(17,490)	3,005,588
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		112,363
Issuance of common stock upon exercise of stock options	839		839
Issuance of common stock upon release of restricted stock units (in shares)		2,777,616
Issuance of common stock upon release of restricted stock units	0	$ 3	(3)
Issuance of common stock for employee stock purchase plan (in shares)		666,051
Issuance of common stock for employee stock purchase plan	34,263	$ 1	34,262
Repurchases of common stock (in shares)		(4,829,090)
Repurchases of common stock	(287,645)	$ (5)	(287,640)
Stock-based compensation expense	240,270		240,270
Other comprehensive (loss) income	19,681			19,681
Net income	219,015				219,015
Ending balance (in shares) at Jul. 31, 2024		307,995,624
Ending balance at Jul. 31, 2024	$ 8,525,247	$ 308	$ 5,298,145	$ 2,191	$ 3,224,603

Net Income Per Share (Tables)

6 Months Ended

Jul. 31, 2024

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share for the periods presented:


	Three Months Ended July 31,								Six Months Ended July 31,
	2024				2023				2024				2023
	Class A		Class B		Class A		Class B		Class A		Class B		Class A		Class B
	(in thousands, except share and per share data)
Numerator:


Net income, basic	$	186,687	$	32,328	$	153,573	$	28,401	$	370,754	$	64,569	$	166,420	$	30,998
Reallocation of net income	(1,425)		1,425		(1,468)		1,468		(2,718)		2,718		(1,662)		1,662
Net income, diluted	$	185,262	$	33,753	$	152,105	$	29,869	$	368,036	$	67,287	$	164,758	$	32,660
Denominator:
Weighted-average shares used in computing net income per share, basic	263,506,853		45,630,954		252,413,018		46,680,434		263,100,802		45,820,808		250,603,102		46,678,744
Weighted-average shares used in computing net income per share, diluted	265,631,026		48,396,166		255,717,521		50,215,075		266,054,570		48,641,781		254,587,009		50,467,762
Net income per share, basic	$	0.71	$	0.71	$	0.61	$	0.61	$	1.41	$	1.41	$	0.66	$	0.66
Net income per share, diluted	$	0.70	$	0.70	$	0.59	$	0.59	$	1.38	$	1.38	$	0.65	$	0.65

Schedule of Potential Shares of Common Stock Excluded from Computation of Diluted Net Income Per Share Attributable to Common Stockholders

The potential shares of common stock that were excluded from the computation of diluted net income per share for the periods presented, because including them would have been anti-dilutive, are as follows:


	Three Months Ended July 31,				Six Months Ended July 31,
	2024		2023		2024		2023
	Class A	Class B	Class A	Class B	Class A	Class B	Class A	Class B
Unvested RSUs	14,850,761	—	9,214,305	—	12,596,651	—	10,083,918	—
Purchase rights committed under the ESPP	2,436,546	—	2,347,590	—	1,738,415	—	2,208,209	—
Outstanding stock options	96,890	—	108,647	—	99,622	—	116,349	—
Total	17,384,197	—	11,670,542	—	14,434,688	—	12,408,476	—

Balance Sheet Components - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jan. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued expenses	$ 169,509	$ 173,993
Accrued compensation and benefits	121,722	185,128
Income tax liabilities	18,450	21,880
Sales and other non-income tax liabilities	36,203	35,460
Customer deposit liabilities	44,653	40,142
Operating lease liabilities, current	27,975	24,645
Other	20,947	18,916
Accrued expenses and other current liabilities	$ 439,459	$ 500,164

Business Combinations (Details) - USD ($) $ in Thousands		6 Months Ended
Business Combinations (Details) - USD ($) $ in Thousands	Apr. 21, 2023	Jul. 31, 2024	Jan. 31, 2024
Business Acquisition [Line Items]
Goodwill		$ 307,295	$ 307,295
Workvivo Limited
Business Acquisition [Line Items]
Business acquisition, percentage of voting interests acquired (as a percent)	100.00%
Cash consideration paid	$ 221,800
Goodwill	184,700
Intangible assets, other than goodwill	28,000
Other net assets acquired	9,100
Workvivo Limited \| Developed Technology Rights
Business Acquisition [Line Items]
Intangible assets, other than goodwill	$ 10,800
Acquired finite-lived intangible assets, weighted average useful life (in years)	5 years	3 years 8 months 12 days
Workvivo Limited \| Customer Relationships
Business Acquisition [Line Items]
Intangible assets, other than goodwill	$ 17,000
Acquired finite-lived intangible assets, weighted average useful life (in years)	5 years	3 years 8 months 12 days

Cover - shares	6 Months Ended
Cover - shares	Jul. 31, 2024	Aug. 09, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 31, 2024
Document Transition Report	false
Entity File Number	001-38865
Entity Registrant Name	Zoom Video Communications, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	61-1648780
Entity Address, Address Line One	55 Almaden Boulevard
Entity Address, Address Line Two	6th Floor
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95113
City Area Code	888
Local Phone Number	799-9666
Title of 12(b) Security	Class A Common Stock, $0.001 par value per share
Trading Symbol	ZM
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001585521
Current Fiscal Year End Date	--01-31
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		262,128,624
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		45,660,591

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Income Statement [Abstract]
Revenue	$ 1,162,520	$ 1,138,676	$ 2,303,754	$ 2,244,040
Cost of revenue	285,089	266,559	558,391	530,506
Gross profit	877,431	872,117	1,745,363	1,713,534
Operating expenses:
Research and development	206,756	191,802	412,314	401,073
Sales and marketing	358,770	373,373	706,778	795,877
General and administrative	109,535	129,324	220,879	329,224
Total operating expenses	675,061	694,499	1,339,971	1,526,174
Income from operations	202,370	177,618	405,392	187,360
Gains on strategic investments, net	3,107	31,670	20,461	33,945
Other income, net	87,412	41,085	159,000	72,298
Income before provision for income taxes	292,889	250,373	584,853	293,603
Provision for income taxes	73,874	68,399	149,530	96,185
Net income	$ 219,015	$ 181,974	$ 435,323	$ 197,418
Net income per share:
Basic (in dollars per share)	$ 0.71	$ 0.61	$ 1.41	$ 0.66
Diluted (in dollars per share)	$ 0.70	$ 0.59	$ 1.38	$ 0.65
Weighted-average shares used in computing net income per share:
Basic (in shares)	309,137,807	299,093,452	308,921,610	297,281,846
Diluted (in shares)	314,027,192	305,932,596	314,696,351	305,054,771

Revenue Recognition

6 Months Ended

Jul. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Disaggregation of Revenue

The following table summarizes revenue by region based on the billing address of customers:


	Three Months Ended July 31,								Six Months Ended July 31,
	2024				2023				2024				2023
	Amount		Percentage of Revenue		Amount		Percentage of Revenue		Amount		Percentage of Revenue		Amount		Percentage of Revenue

	(in thousands, except percentages)
Americas	$	835,728	71.9	%	$	808,425	71.0	%	$	1,654,411	71.8	%	$	1,593,022	71.0	%
Asia Pacific (“APAC”)	142,315		12.2		144,915		12.7		280,629		12.2		285,786		12.7
Europe, Middle East, and Africa (“EMEA”)	184,477		15.9		185,336		16.3		368,714		16.0		365,232		16.3
Total	$	1,162,520	100.0	%	$	1,138,676	100.0	%	$	2,303,754	100.0	%	$	2,244,040	100.0	%

Contract Balances

We receive payments from customers based on a billing schedule as established in our customer contracts. Accounts receivable are recorded when we contractually have the right to consideration. In some arrangements, a right to consideration for our performance under the customer contract may occur before invoicing to the customer, resulting in an unbilled accounts receivable. The amount of unbilled accounts receivable included within accounts receivable, net was $119.9 million and $124.8 million as of July 31, 2024 and January 31, 2024, respectively, and the amount of unbilled accounts receivable included within other assets, noncurrent was immaterial as of July 31, 2024 and January 31, 2024.

Contract liabilities consist of deferred revenue. Revenue is deferred when we have the right to invoice in advance of performance under a customer contract. The current portion of deferred revenue balances is recognized over the next 12 months. The amount of revenue recognized during the three months ended July 31, 2024 and 2023 that was included in deferred

revenue at the beginning of each period was $609.4 million and $593.9 million, respectively, and $955.4 million and $939.2 million during the six months ended July 31, 2024 and 2023, respectively.

Remaining Performance Obligations

The terms of our subscription agreements are monthly, annual, and multiyear, and we may bill for the full term in advance or on an annual, quarterly, or monthly basis, depending on the billing terms with customers. As of July 31, 2024, the aggregate amount of the transaction price allocated to our remaining performance obligations was $3,778.3 million, which consists of both billed consideration in the amount of $1,406.7 million and unbilled consideration in the amount of $2,371.6 million that we expect to recognize as revenue. We expect to recognize 60% of our remaining performance obligations as revenue over the next 12 months and the remainder thereafter.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Revenue Recognition (Tables)

6 Months Ended

Jul. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue by Region

The following table summarizes revenue by region based on the billing address of customers:


	Three Months Ended July 31,								Six Months Ended July 31,
	2024				2023				2024				2023
	Amount		Percentage of Revenue		Amount		Percentage of Revenue		Amount		Percentage of Revenue		Amount		Percentage of Revenue

	(in thousands, except percentages)
Americas	$	835,728	71.9	%	$	808,425	71.0	%	$	1,654,411	71.8	%	$	1,593,022	71.0	%
Asia Pacific (“APAC”)	142,315		12.2		144,915		12.7		280,629		12.2		285,786		12.7
Europe, Middle East, and Africa (“EMEA”)	184,477		15.9		185,336		16.3		368,714		16.0		365,232		16.3
Total	$	1,162,520	100.0	%	$	1,138,676	100.0	%	$	2,303,754	100.0	%	$	2,244,040	100.0	%

Income Taxes (Tables)

6 Months Ended

Jul. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The following table provides details of the provision for income taxes:


	Three Months Ended July 31,						Six Months Ended July 31,
	2024			2023			2024			2023

	(in thousands, except percentages)
Income before provision for income taxes	$	292,889		$	250,373		$	584,853		$	293,603
Provision for income taxes	73,874			68,399			149,530			96,185
Effective tax rate	25.2		%	27.3		%	25.6		%	32.8		%

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation	$ 25.7	$ 22.6	$ 49.0	$ 44.6

Restructuring Activities - Schedule of Restructuring Expenses (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Restructuring Cost and Reserve [Line Items]
Total restructuring (benefits) costs	$ (187,000)	$ 0	$ 72,993,000
Cost of revenue
Restructuring Cost and Reserve [Line Items]
Total restructuring (benefits) costs	24,000		7,119,000
Research and development
Restructuring Cost and Reserve [Line Items]
Total restructuring (benefits) costs	327,000		19,629,000
Sales and marketing
Restructuring Cost and Reserve [Line Items]
Total restructuring (benefits) costs	(911,000)		32,930,000
General and administrative
Restructuring Cost and Reserve [Line Items]
Total restructuring (benefits) costs	$ 373,000		$ 13,315,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Investments - Summary of Marketable Securities (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jan. 31, 2024
Marketable Securities [Line Items]
Amortized Cost	$ 5,978,372	$ 5,403,503
Gross Unrealized Gains	8,489	11,446
Gross Unrealized Losses	(6,286)	(10,716)
Estimated Fair Value	5,980,575	5,404,233
Commercial paper
Marketable Securities [Line Items]
Amortized Cost	19,636	41,564
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	19,636	41,564
Agency bonds
Marketable Securities [Line Items]
Amortized Cost	1,770,254	1,667,601
Gross Unrealized Gains	1,049	2,426
Gross Unrealized Losses	(2,591)	(3,344)
Estimated Fair Value	1,768,712	1,666,683
Corporate and other debt securities
Marketable Securities [Line Items]
Amortized Cost	711,321	663,122
Gross Unrealized Gains	1,434	1,161
Gross Unrealized Losses	(532)	(1,124)
Estimated Fair Value	712,223	663,159
U.S. government agency securities
Marketable Securities [Line Items]
Amortized Cost	3,356,712	3,003,224
Gross Unrealized Gains	5,993	7,859
Gross Unrealized Losses	(3,146)	(6,241)
Estimated Fair Value	3,359,559	3,004,842
Treasury bills
Marketable Securities [Line Items]
Amortized Cost	120,449	27,992
Gross Unrealized Gains	13	0
Gross Unrealized Losses	(17)	(7)
Estimated Fair Value	$ 120,445	$ 27,985

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jan. 31, 2024
Financial Assets:
Marketable securities	$ 5,980,575	$ 5,404,233
Privately held debt securities included in strategic investments	4,403	3,828
Commercial paper
Financial Assets:
Marketable securities	19,636	41,564
Agency bonds
Financial Assets:
Marketable securities	1,768,712	1,666,683
Corporate and other debt securities
Financial Assets:
Marketable securities	712,223	663,159
U.S. government agency securities
Financial Assets:
Marketable securities	3,359,559	3,004,842
Fair Value, Recurring Basis
Financial Assets:
Cash equivalents	1,013,589	974,599
Marketable securities	5,980,575	5,404,233
Publicly held equity securities included in strategic investments	26,880	23,160
Privately held debt securities included in strategic investments	4,403	3,828
Total financial assets	7,025,698	6,406,074
Fair Value, Recurring Basis \| Commercial paper
Financial Assets:
Marketable securities	19,636	41,564
Fair Value, Recurring Basis \| Agency bonds
Financial Assets:
Marketable securities	1,768,712	1,666,683
Fair Value, Recurring Basis \| Corporate and other debt securities
Financial Assets:
Marketable securities	712,223	663,159
Fair Value, Recurring Basis \| U.S. government agency securities
Financial Assets:
Marketable securities	3,359,559	3,004,842
Fair Value, Recurring Basis \| Treasury bills
Financial Assets:
Marketable securities	120,445	27,985
Fair Value, Recurring Basis \| Certificates of deposit
Financial Assets:
Certificate of deposit included in prepaid expenses and other current assets	251
Certificates of deposit included in other assets, noncurrent		254
Fair Value, Recurring Basis \| Money market funds
Financial Assets:
Cash equivalents	898,494	851,100
Fair Value, Recurring Basis \| Treasury bills
Financial Assets:
Cash equivalents	113,107	100,629
Fair Value, Recurring Basis \| Commercial paper
Financial Assets:
Cash equivalents	1,988
Fair Value, Recurring Basis \| Corporate debt securities
Financial Assets:
Cash equivalents		2,715
Fair Value, Recurring Basis \| Agency bonds
Financial Assets:
Cash equivalents		20,155
Fair Value, Recurring Basis \| Level 1
Financial Assets:
Cash equivalents	898,494	851,100
Marketable securities	0	0
Publicly held equity securities included in strategic investments	26,880	23,160
Privately held debt securities included in strategic investments	0	0
Total financial assets	925,374	874,260
Fair Value, Recurring Basis \| Level 1 \| Commercial paper
Financial Assets:
Marketable securities	0	0
Fair Value, Recurring Basis \| Level 1 \| Agency bonds
Financial Assets:
Marketable securities	0	0
Fair Value, Recurring Basis \| Level 1 \| Corporate and other debt securities
Financial Assets:
Marketable securities	0	0
Fair Value, Recurring Basis \| Level 1 \| U.S. government agency securities
Financial Assets:
Marketable securities	0	0
Fair Value, Recurring Basis \| Level 1 \| Treasury bills
Financial Assets:
Marketable securities	0	0
Fair Value, Recurring Basis \| Level 1 \| Certificates of deposit
Financial Assets:
Certificate of deposit included in prepaid expenses and other current assets	0
Certificates of deposit included in other assets, noncurrent		0
Fair Value, Recurring Basis \| Level 1 \| Money market funds
Financial Assets:
Cash equivalents	898,494	851,100
Fair Value, Recurring Basis \| Level 1 \| Treasury bills
Financial Assets:
Cash equivalents	0	0
Fair Value, Recurring Basis \| Level 1 \| Commercial paper
Financial Assets:
Cash equivalents	0
Fair Value, Recurring Basis \| Level 1 \| Corporate debt securities
Financial Assets:
Cash equivalents		0
Fair Value, Recurring Basis \| Level 1 \| Agency bonds
Financial Assets:
Cash equivalents		0
Fair Value, Recurring Basis \| Level 2
Financial Assets:
Cash equivalents	115,095	123,499
Marketable securities	5,980,575	5,404,233
Publicly held equity securities included in strategic investments	0	0
Privately held debt securities included in strategic investments	0	0
Total financial assets	6,095,921	5,527,986
Fair Value, Recurring Basis \| Level 2 \| Commercial paper
Financial Assets:
Marketable securities	19,636	41,564
Fair Value, Recurring Basis \| Level 2 \| Agency bonds
Financial Assets:
Marketable securities	1,768,712	1,666,683
Fair Value, Recurring Basis \| Level 2 \| Corporate and other debt securities
Financial Assets:
Marketable securities	712,223	663,159
Fair Value, Recurring Basis \| Level 2 \| U.S. government agency securities
Financial Assets:
Marketable securities	3,359,559	3,004,842
Fair Value, Recurring Basis \| Level 2 \| Treasury bills
Financial Assets:
Marketable securities	120,445	27,985
Fair Value, Recurring Basis \| Level 2 \| Certificates of deposit
Financial Assets:
Certificate of deposit included in prepaid expenses and other current assets	251
Certificates of deposit included in other assets, noncurrent		254
Fair Value, Recurring Basis \| Level 2 \| Money market funds
Financial Assets:
Cash equivalents	0	0
Fair Value, Recurring Basis \| Level 2 \| Treasury bills
Financial Assets:
Cash equivalents	113,107	100,629
Fair Value, Recurring Basis \| Level 2 \| Commercial paper
Financial Assets:
Cash equivalents	1,988
Fair Value, Recurring Basis \| Level 2 \| Corporate debt securities
Financial Assets:
Cash equivalents		2,715
Fair Value, Recurring Basis \| Level 2 \| Agency bonds
Financial Assets:
Cash equivalents		20,155
Fair Value, Recurring Basis \| Level 3
Financial Assets:
Cash equivalents	0	0
Marketable securities	0	0
Publicly held equity securities included in strategic investments	0	0
Privately held debt securities included in strategic investments	4,403	3,828
Total financial assets	4,403	3,828
Fair Value, Recurring Basis \| Level 3 \| Commercial paper
Financial Assets:
Marketable securities	0	0
Fair Value, Recurring Basis \| Level 3 \| Agency bonds
Financial Assets:
Marketable securities	0	0
Fair Value, Recurring Basis \| Level 3 \| Corporate and other debt securities
Financial Assets:
Marketable securities	0	0
Fair Value, Recurring Basis \| Level 3 \| U.S. government agency securities
Financial Assets:
Marketable securities	0	0
Fair Value, Recurring Basis \| Level 3 \| Treasury bills
Financial Assets:
Marketable securities	0	0
Fair Value, Recurring Basis \| Level 3 \| Certificates of deposit
Financial Assets:
Certificate of deposit included in prepaid expenses and other current assets	0
Certificates of deposit included in other assets, noncurrent		0
Fair Value, Recurring Basis \| Level 3 \| Money market funds
Financial Assets:
Cash equivalents	0	0
Fair Value, Recurring Basis \| Level 3 \| Treasury bills
Financial Assets:
Cash equivalents	0	0
Fair Value, Recurring Basis \| Level 3 \| Commercial paper
Financial Assets:
Cash equivalents	$ 0
Fair Value, Recurring Basis \| Level 3 \| Corporate debt securities
Financial Assets:
Cash equivalents		0
Fair Value, Recurring Basis \| Level 3 \| Agency bonds
Financial Assets:
Cash equivalents		$ 0

Stockholders’ Equity and Equity Incentive Plans - Additional Information (Details)	3 Months Ended	6 Months Ended
	Jul. 31, 2024 USD ($) plan $ / shares shares	Jul. 31, 2024 USD ($) plan $ / shares shares	Feb. 29, 2024 USD ($)	Jan. 31, 2024 $ / shares shares
Class of Stock [Line Items]
Common stock, par value (in dollars per share) \| $ / shares	$ 0.001	$ 0.001		$ 0.001
Remaining authorized amount	$ 1,062,300,000	$ 1,062,300,000
Number of equity incentive plans \| plan	2	2
Unrecognized stock-based compensation expenses related to outstanding unvested stock options (in shares)	$ 0	$ 0
RSUs
Class of Stock [Line Items]
Unrecognized stock-based compensation expenses	1,688,100,000	$ 1,688,100,000
Unrecognized stock-based compensation excepted to be recognized over a weighted-average period (in years)		2 years 7 months 6 days
Awards granted (in shares) \| shares		8,361,293
RSUs with Service and Performance Criteria
Class of Stock [Line Items]
Awards granted (in shares) \| shares		1,700,000
Vesting percentage		100.00%
RSUs with Service and Performance Criteria \| Minimum
Class of Stock [Line Items]
Vesting percentage		0.00%
RSUs with Service and Performance Criteria \| Maximum
Class of Stock [Line Items]
Vesting percentage		100.00%
Employee Stock Purchase Plan
Class of Stock [Line Items]
Unrecognized stock-based compensation expenses	$ 50,500,000	$ 50,500,000
Unrecognized stock-based compensation excepted to be recognized over a weighted-average period (in years)		1 year 6 months
Class A Common Stock
Class of Stock [Line Items]
Common stock, authorized (in shares) \| shares	2,000,000,000	2,000,000,000		2,000,000,000
Common stock, par value (in dollars per share) \| $ / shares	$ 0.001	$ 0.001
Stock repurchase plan, authorized amount			$ 1,500,000,000
Stock repurchased and retired during period (in shares) \| shares	4,829,090	7,229,395
Stock repurchased and retired during period	$ 287,600,000	$ 437,700,000
Class B Common Stock
Class of Stock [Line Items]
Common stock, authorized (in shares) \| shares	300,000,000	300,000,000		300,000,000
Common stock, par value (in dollars per share) \| $ / shares	$ 0.001	$ 0.001

Business Combinations	6 Months Ended
Business Combinations	Jul. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Combinations	Business Combinations Workvivo Limited On April 21, 2023, we acquired 100% of the issued and outstanding share capital of Workvivo Limited (“Workvivo”), a private technology company that provides an employee experience platform, for an all-cash purchase consideration of $221.8 million. The acquisition extends our platform and offers our customers new ways to keep employees informed, engaged, and connected. The acquisition has been accounted for as a business combination. In allocating the purchase consideration, $184.7 million was attributed to goodwill, $28.0 million to intangible assets (primarily consisting of $10.8 million to developed technology and $17.0 million to customer relationships), and $9.1 million to other net assets acquired. The goodwill amount represents synergies related to our existing products expected to be realized from the acquisition and assembled workforce. The associated goodwill is not deductible for tax purposes. At the date of the acquisition, the developed technology and customer relationships both had an estimated useful life of 5.0 years, and both are amortized using the straight-line method over their respective estimated useful lives. Amortization of developed technology and customer relationships is recorded within cost of revenue and sales and marketing expense, respectively, within the condensed consolidated statements of operations. As of July 31, 2024, the developed technology and customer relationships both had a remaining useful life of 3.7 years. Transaction costs incurred in connection with the acquisition were immaterial. The results of operations of Workvivo, which are not material, have been included in our condensed consolidated financial statements from the date of the acquisition. Pro forma and historical results of operations of the company have not been presented, as the results do not have a material effect on any of the periods presented in our condensed consolidated statements of operations.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) on available-for-sale marketable securities, net of income tax (expense) benefit	$ (6,038)	$ 553	$ (346)	$ (4,121)

Investments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023	Jan. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Unrealized losses for securities in unrealized loss position for less than 12 months	$ 2.9		$ 2.9		$ 6.0
Unrealized losses for securities in unrealized loss position for 12 months or longer	3.4		3.4		$ 4.8
Available-for-sale, realized gains or losses	$ 0.0	$ 0.0	$ 0.0	$ 0.0

Balance Sheet Components (Tables)

6 Months Ended

Jul. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accounts Receivable

Our short-term accounts receivable consist of the following:


	As of
	July 31, 2024		January 31, 2024

	(in thousands)
Accounts receivable, gross	$	551,036	$	568,449
Less: allowance for credit losses	(18,988)		(25,916)
Less: allowance for returns	(3,811)		(6,455)
Accounts receivable, net	$	528,237	$	536,078

Schedule of Allowance for Credit Loss

Below is a rollforward of our allowance for credit losses for the six months ended July 31, 2024 and 2023:




	2024		2023
	(in thousands)
Balance as of January 31	$	25,916	$	24,900
Provision for credit losses	13,052		30,250
Write-offs	(19,980)		(17,057)
Balance as of July 31	$	18,988	$	38,093

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


	As of
	July 31, 2024		January 31, 2024

	(in thousands)
Prepaid expenses	$	129,490	$	188,259

Restricted cash	9,852		6,874
Other	10,032		24,049
Prepaid expenses and other current assets	$	149,374	$	219,182

Schedule of Property and Equipment

Property and equipment consisted of the following:


	As of
	July 31, 2024		January 31, 2024

	(in thousands)
Servers	$	410,222	$	340,868
Software	110,152		95,409
Computer and office equipment	43,776		44,571
Leasehold improvements	53,396		43,981
Furniture and fixtures	5,468		5,192
Property and equipment, gross	623,014		530,021
Less: accumulated depreciation and amortization	(275,300)		(236,317)
Property and equipment, net	$	347,714	$	293,704

Schedule of Other Assets, Noncurrent

Other assets, noncurrent consisted of the following:


	As of
	July 31, 2024		January 31, 2024

	(in thousands)
Accounts receivable, noncurrent	$	14,743	$	26,099

Intangible assets subject to amortization, net	40,209		46,935
Indefinite-lived intangible assets	25,239		25,239
Prepaid expenses, noncurrent	25,574		23,351
Income tax receivable, noncurrent	9,800		—
Other	11,230		11,853
Other assets, noncurrent	$	126,795	$	133,477

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	As of
	July 31, 2024		January 31, 2024

	(in thousands)

Accrued expenses	$	169,509	$	173,993
Accrued compensation and benefits	121,722		185,128
Income tax liabilities	18,450		21,880
Sales and other non-income tax liabilities	36,203		35,460
Customer deposit liabilities	44,653		40,142
Operating lease liabilities, current	27,975		24,645


Other	20,947		18,916
Accrued expenses and other current liabilities	$	439,459	$	500,164

Schedule of Other Liabilities, Noncurrent

Other liabilities, noncurrent consisted of the following:


	As of
	July 31, 2024		January 31, 2024

	(in thousands)
Sales and other non-income tax liabilities	$	43,628	$	42,254

Long-term income tax liabilities	40,668		33,864
Other	4,833		5,260
Other liabilities, noncurrent	$	89,129	$	81,378

Summary of Business and Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and applicable regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting, and include the accounts of Zoom Video Communications, Inc., its subsidiaries, and variable interest entities for which we are the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated balance sheet as of January 31, 2024 included herein was derived from the audited financial statements as of that date, but does not include all disclosures, including certain notes required by GAAP on an annual reporting basis. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of operations, statements of comprehensive income, statements of stockholders’ equity, and statements of cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year or any future period.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include, but are not limited to, the estimated expected benefit period for deferred contract acquisition costs, stock-based compensation expense, the fair value of marketable securities, acquired intangible assets and goodwill, the valuation of deferred income tax assets and uncertain tax positions, and accruals and contingencies. Actual results could materially differ from those estimates.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense related to stock awards with only service conditions, including stock options, RSUs, and shares issued pursuant to our employee stock purchase plan (“ESPP”), are measured based on the fair value of the awards granted and recognized as an expense on a straight-line basis over the requisite service period. For RSU’s with service and performance conditions, expense is recognized over the requisite service period if it is probable the performance condition will be achieved. The probability of achievement is assessed quarterly, and the effect of any change in the estimated number of performance-based awards expected to vest is recognized in the period those estimates are revised as a cumulative catch-up adjustment to stock-based compensation expense. The fair value of each option and ESPP award is estimated on the grant date using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the use of assumptions, including the fair value of the underlying common stock, the expected term of the award, the expected volatility of the price of our common stock, risk-free interest rates, and the expected dividend yield of our common stock. The fair value of each RSU award is based on the fair value of the underlying common stock as of the grant date. The assumptions used to determine the fair value of the stock awards represent management’s best estimates. These estimates involve inherent uncertainties and the application of management’s judgment. We account for forfeitures as they occur instead of estimating the number of awards expected to be forfeited.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which aims to improve financial reporting by requiring disclosure of incremental segment information on an annual and interim basis to enable investors to develop more decision-useful financial analyses. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. This ASU will likely result in us including the additional required disclosures when adopted. We are currently evaluating the impact from the adoption of this ASU on our consolidated financial statements and will adopt it for the year ending January 31, 2025. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which aims to improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 and early adoption is permitted. We are currently evaluating the impact from the adoption of this ASU on our consolidated financial statements.

- Definition

Disclosure of accounting policy for award under share-based payment arrangement. Includes, but is not limited to, methodology and assumption used in measuring cost.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.C.Q3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479830/718-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.D.1.Q5)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479830/718-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.D.3.Q2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479830/718-10-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.D.2.Q6)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479830/718-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/718/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Net Income Per Share

6 Months Ended

Jul. 31, 2024

Earnings Per Share [Abstract]

Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share for the periods presented:


	Three Months Ended July 31,								Six Months Ended July 31,
	2024				2023				2024				2023
	Class A		Class B		Class A		Class B		Class A		Class B		Class A		Class B
	(in thousands, except share and per share data)
Numerator:


Net income, basic	$	186,687	$	32,328	$	153,573	$	28,401	$	370,754	$	64,569	$	166,420	$	30,998
Reallocation of net income	(1,425)		1,425		(1,468)		1,468		(2,718)		2,718		(1,662)		1,662
Net income, diluted	$	185,262	$	33,753	$	152,105	$	29,869	$	368,036	$	67,287	$	164,758	$	32,660
Denominator:
Weighted-average shares used in computing net income per share, basic	263,506,853		45,630,954		252,413,018		46,680,434		263,100,802		45,820,808		250,603,102		46,678,744
Weighted-average shares used in computing net income per share, diluted	265,631,026		48,396,166		255,717,521		50,215,075		266,054,570		48,641,781		254,587,009		50,467,762
Net income per share, basic	$	0.71	$	0.71	$	0.61	$	0.61	$	1.41	$	1.41	$	0.66	$	0.66
Net income per share, diluted	$	0.70	$	0.70	$	0.59	$	0.59	$	1.38	$	1.38	$	0.65	$	0.65


	Three Months Ended July 31,				Six Months Ended July 31,
	2024		2023		2024		2023
	Class A	Class B	Class A	Class B	Class A	Class B	Class A	Class B
Unvested RSUs	14,850,761	—	9,214,305	—	12,596,651	—	10,083,918	—
Purchase rights committed under the ESPP	2,436,546	—	2,347,590	—	1,738,415	—	2,208,209	—
Outstanding stock options	96,890	—	108,647	—	99,622	—	116,349	—
Total	17,384,197	—	11,670,542	—	14,434,688	—	12,408,476	—

The table above does not include 405,156 shares of issued Class A common stock held by us as of July 31, 2024 and 2023 that are reserved for the sole purpose of being transferred to nonprofit organizations.

Investments

6 Months Ended

Jul. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Investments

Marketable Securities

As of July 31, 2024 and January 31, 2024, our marketable securities consisted of the following:


	As of July 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

	(in thousands)





Commercial paper	$	19,636	$	—	$	—	$	19,636
Agency bonds	1,770,254		1,049		(2,591)		1,768,712
Corporate and other debt securities	711,321		1,434		(532)		712,223
U.S. government agency securities	3,356,712		5,993		(3,146)		3,359,559
Treasury bills	120,449		13		(17)		120,445
Marketable securities	$	5,978,372	$	8,489	$	(6,286)	$	5,980,575


	As of January 31, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

	(in thousands)


Commercial paper	$	41,564	$	—	$	—	$	41,564
Agency bonds	1,667,601		2,426		(3,344)		1,666,683
Corporate and other debt securities	663,122		1,161		(1,124)		663,159
U.S. government agency securities	3,003,224		7,859		(6,241)		3,004,842
Treasury bills	27,992		—		(7)		27,985
Marketable securities	$	5,403,503	$	11,446	$	(10,716)	$	5,404,233

Unrealized losses for securities that have been in an unrealized loss position for less than 12 months were $2.9 million and $6.0 million as of July 31, 2024 and January 31, 2024, respectively. Unrealized losses for securities that have been in an unrealized loss position for 12 months or longer were $3.4 million and $4.8 million as of July 31, 2024 and January 31, 2024, respectively. We review the individual securities that have unrealized losses on a regular basis to evaluate whether or not any security has experienced, or is expected to experience, credit losses resulting in the decline in fair value. We evaluate, among other factors, whether we have the intention to sell any of these marketable securities and whether it is more likely than not that we will be required to sell any of them before recovery of the amortized cost basis. We have not recorded an allowance for credit losses, as we believe any such losses would be immaterial based on the high-grade credit rating for each of our marketable securities as of the end of each period. There were no material realized gains or losses from available-for-sale securities that were reclassified out of accumulated other comprehensive loss for the three and six months ended July 31, 2024 and 2023.

The following table presents the contractual maturities of our marketable securities as of July 31, 2024 and January 31, 2024:


	As of
	July 31, 2024		January 31, 2024

	(in thousands)
Less than one year	$	3,268,071	$	2,883,598
Due in one to five years	2,712,504		2,520,635
Total	$	5,980,575	$	5,404,233

Strategic Investments

Strategic investments by form and measurement category as of July 31, 2024 were as follows:


	Measurement Category
	Fair Value		Measurement Alternative		Equity Method		Total

	(in thousands)
Equity securities	$	26,880	$	309,650	$	97,596	$	434,126
Debt securities	4,403		—		—		4,403
Strategic investments	$	31,283	$	309,650	$	97,596	$	438,529

Strategic investments by form and measurement category as of January 31, 2024 were as follows:


	Measurement Category
	Fair Value		Measurement Alternative		Equity Method		Total

	(in thousands)
Equity securities	$	23,160	$	285,509	$	96,725	$	405,394
Debt securities	3,828		—		—		3,828
Strategic investments	$	26,988	$	285,509	$	96,725	$	409,222

Stockholders’ Equity and Equity Incentive Plans (Tables)

6 Months Ended

Jul. 31, 2024

Stockholders' Equity Note [Abstract]

Schedule of Stock Option Activity Under Equity Incentive Plan

A summary of stock option activity under our equity incentive plan and related information is as follows:


	Stock Options
	Outstanding Stock Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value

	(in thousands, except share, life, and per share data)
Balance as of January 31, 2024	3,314,228	$	8.21	3.9	$	189,921
Exercised	(221,827)	$	8.36		$	12,034
Canceled/forfeited/expired	(6,188)	$	92.67
Outstanding and exercisable as of July 31, 2024	3,086,213	$	8.03	3.4	$	164,855

Schedule of Restricted Stock Units (RSUs) Activity Under Equity Incentive Plan

A summary of RSU activity under our equity incentive plan and related information is as follows:


	RSUs
	RSUs	Weighted- Average Grant Date Fair Value Per Share
Unvested as of January 31, 2024	26,040,557	$	83.14
Granted	8,361,293	$	62.62

Vested	(6,778,788)	$	86.27
Canceled/forfeited	(1,932,193)	$	81.53
Unvested as of July 31, 2024	25,690,869	$	75.76

Schedule of Stock-Based Compensation Expense by Line Item

The stock-based compensation expense by line item in the accompanying condensed consolidated statements of operations is summarized as follows:


	Three Months Ended July 31,				Six Months Ended July 31,
	2024		2023		2024		2023

	(in thousands)
Cost of revenue	$	31,299	$	37,535	$	62,874	$	75,624
Research and development	81,597		82,037		164,166		163,503
Sales and marketing	84,225		93,918		161,459		206,511
General and administrative	40,829		48,019		78,876		98,216
Total stock-based compensation expense	$	237,950	$	261,509	$	467,375	$	543,854
Benefit from income taxes	(43,742)		(48,766)		(87,216)		(98,443)
Total stock-based compensation expense recorded to net income	$	194,208	$	212,743	$	380,159	$	445,411

Restructuring Activities (Tables)

6 Months Ended

Jul. 31, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Expenses

The following table summarizes our restructuring expenses that were recorded as an operating expense in the condensed consolidated statement of operations for the three and six months ended July 31, 2023:


	Three Months Ended July 31, 2023		Six Months Ended July 31, 2023
	(in thousands)
Cost of revenue	$	24	$	7,119
Research and development	327		19,629
Sales and marketing	(911)		32,930
General and administrative	373		13,315
Total restructuring (benefits) costs	$	(187)	$	72,993

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jul. 31, 2024	Jan. 31, 2024
Current assets:
Accounts receivable, allowances	$ 22,799	$ 32,371
Stockholders’ equity:
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Class A Common Stock
Stockholders’ equity:
Common stock, par value (in dollars per share)	$ 0.001
Common stock, authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, issued (in shares)	262,335,183	260,896,822
Common stock, outstanding (in shares)	262,335,183	260,896,822
Class B Common Stock
Stockholders’ equity:
Common stock, par value (in dollars per share)	$ 0.001
Common stock, authorized (in shares)	300,000,000	300,000,000
Common stock, issued (in shares)	45,660,441	46,661,531
Common stock, outstanding (in shares)	45,660,441	46,661,531

Balance Sheet Components - Rollforward of Allowance For Credit Losses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2024	Jul. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 25,916	$ 24,900
Provision for credit losses	13,052	30,250
Write-offs	(19,980)	(17,057)
Ending balance	$ 18,988	$ 38,093

Balance Sheet Components - Other Liabilities Non Current (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jan. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Sales and other non-income tax liabilities	$ 43,628	$ 42,254
Long-term income tax liabilities	40,668	33,864
Other	4,833	5,260
Other liabilities, noncurrent	$ 89,129	$ 81,378

Revenue Recognition - Summary of Disaggregation of Revenue by Region (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Disaggregation of Revenue [Line Items]
Amount	$ 1,162,520	$ 1,138,676	$ 2,303,754	$ 2,244,040
Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of Revenue	100.00%	100.00%	100.00%	100.00%
Americas
Disaggregation of Revenue [Line Items]
Amount	$ 835,728	$ 808,425	$ 1,654,411	$ 1,593,022
Americas \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of Revenue	71.90%	71.00%	71.80%	71.00%
Asia Pacific (“APAC”)
Disaggregation of Revenue [Line Items]
Amount	$ 142,315	$ 144,915	$ 280,629	$ 285,786
Asia Pacific (“APAC”) \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of Revenue	12.20%	12.70%	12.20%	12.70%
Europe, Middle East, and Africa (“EMEA”)
Disaggregation of Revenue [Line Items]
Amount	$ 184,477	$ 185,336	$ 368,714	$ 365,232
Europe, Middle East, and Africa (“EMEA”) \| Revenue from Contract with Customer Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of Revenue	15.90%	16.30%	16.00%	16.30%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Investments - Summary of Contractual Maturities of Marketable Securities (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jan. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Less than one year	$ 3,268,071	$ 2,883,598
Due in one to five years	2,712,504	2,520,635
Total	$ 5,980,575	$ 5,404,233

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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+ Details

Summary of Business and Significant Accounting Policies	6 Months Ended
Summary of Business and Significant Accounting Policies	Jul. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Business and Significant Accounting Policies	Summary of Business and Significant Accounting Policies Description of Business Zoom Video Communications, Inc. and its subsidiaries (collectively, “Zoom,” the “Company,” “we,” “us,” or “our”) provide a workplace collaboration platform that connects people through frictionless and secure meetings, phone, chat, content sharing and more. We were incorporated in the state of Delaware in April 2011, and are headquartered in San Jose, California. Fiscal Year Our fiscal year ends on January 31. References to fiscal year 2025, for example, refer to the fiscal year ending January 31, 2025. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and applicable regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting, and include the accounts of Zoom Video Communications, Inc., its subsidiaries, and variable interest entities for which we are the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated balance sheet as of January 31, 2024 included herein was derived from the audited financial statements as of that date, but does not include all disclosures, including certain notes required by GAAP on an annual reporting basis. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of operations, statements of comprehensive income, statements of stockholders’ equity, and statements of cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year or any future period. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended January 31, 2024, filed with the SEC on March 4, 2024. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include, but are not limited to, the estimated expected benefit period for deferred contract acquisition costs, stock-based compensation expense, the fair value of marketable securities, acquired intangible assets and goodwill, the valuation of deferred income tax assets and uncertain tax positions, and accruals and contingencies. Actual results could materially differ from those estimates. Summary of Significant Accounting Policies Our significant accounting policies are discussed in Note 1. “Summary of Business and Significant Accounting Policies” in the notes to consolidated financial statements included in our Annual Report on Form 10-K for the year ended January 31, 2024, filed with the SEC on March 4, 2024. Except for an update to our stock-based compensation policy covering our fiscal year 2025 grants of restricted stock units (“RSUs”) that contain both service and performance conditions as noted below, there have been no significant changes to these policies during the six months ended July 31, 2024. Stock-Based Compensation Stock-based compensation expense related to stock awards with only service conditions, including stock options, RSUs, and shares issued pursuant to our employee stock purchase plan (“ESPP”), are measured based on the fair value of the awards granted and recognized as an expense on a straight-line basis over the requisite service period. For RSU’s with service and performance conditions, expense is recognized over the requisite service period if it is probable the performance condition will be achieved. The probability of achievement is assessed quarterly, and the effect of any change in the estimated number of performance-based awards expected to vest is recognized in the period those estimates are revised as a cumulative catch-up adjustment to stock-based compensation expense. The fair value of each option and ESPP award is estimated on the grant date using the Black-Scholes option pricing model. The Black-Scholes option pricing model requires the use of assumptions, including the fair value of the underlying common stock, the expected term of the award, the expected volatility of the price of our common stock, risk-free interest rates, and the expected dividend yield of our common stock. The fair value of each RSU award is based on the fair value of the underlying common stock as of the grant date. The assumptions used to determine the fair value of the stock awards represent management’s best estimates. These estimates involve inherent uncertainties and the application of management’s judgment. We account for forfeitures as they occur instead of estimating the number of awards expected to be forfeited. Recent Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which aims to improve financial reporting by requiring disclosure of incremental segment information on an annual and interim basis to enable investors to develop more decision-useful financial analyses. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. This ASU will likely result in us including the additional required disclosures when adopted. We are currently evaluating the impact from the adoption of this ASU on our consolidated financial statements and will adopt it for the year ending January 31, 2025. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which aims to improve the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 and early adoption is permitted. We are currently evaluating the impact from the adoption of this ASU on our consolidated financial statements.

Stockholders’ Equity and Equity Incentive Plans - Summary of Stock Option Activity Under Equity Incentive Plan (Details) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jul. 31, 2024 USD ($) $ / shares shares	Jan. 31, 2024 USD ($) $ / shares shares
Outstanding Stock Options
Beginning balance (in shares) \| shares	3,314,228
Exercised (in shares) \| shares	(221,827)
Canceled/forfeited/expired (in shares) \| shares	(6,188)
Ending balance (in shares) \| shares	3,086,213	3,314,228
Exercisable (in shares) \| shares	3,086,213
Weighted- Average Exercise Price
Beginning balance (in dollars per share) \| $ / shares	$ 8.21
Exercised (in dollars per share) \| $ / shares	8.36
Canceled/forfeited/expired (in dollars per share) \| $ / shares	92.67
Ending balance (in dollars per share) \| $ / shares	8.03	$ 8.21
Weighted average exercise price, exercisable (in dollars per share) \| $ / shares	$ 8.03
Weighted- Average Remaining Contractual Life (Years)
Outstanding	3 years 4 months 24 days	3 years 10 months 24 days
Exercisable	3 years 4 months 24 days
Aggregate Intrinsic Value
Outstanding \| $	$ 164,855	$ 189,921
Exercised \| $	12,034
Exercisable \| $	$ 164,855

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Pay vs Performance Disclosure
Net income	$ 219,015	$ 181,974	$ 435,323	$ 197,418

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Insider Trading Arrangements

3 Months Ended

6 Months Ended

Jul. 31, 2024

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

During the Company’s last fiscal quarter, the Company’s directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated the contracts, instructions or written plans for the purchase or sale of the Company’s securities set forth in the table below.

Type of Trading Arrangement

Name and Position

Action

Adoption/ Termination

Date

Rule 10b5-1*

Non-

Rule 10b5-1**

Total Shares of Class A Common Stock to be Sold***

Expiration Date

Jonathan Chadwick, Director

Termination

07/15/2024

40,000

06/30/2025

Jonathan Chadwick, Director

Adoption

07/15/2024

100,000

10/31/2025

Janet Napolitano, Director

Adoption

07/10/2024

7,094

10/09/2025

Aparna Bawa, Chief Operating Officer(1)

Adoption

05/22/2024

98,598

07/31/2025

Eric Yuan, Chief Executive Officer(2)

Adoption

07/12/2024

1,288,909

11/13/2025

* Contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.

** “Non-Rule 10b5-1 trading arrangement” as defined in Item 408(c) of Regulation S-K under the Exchange Act.

*** Represents the maximum number of shares that may be sold pursuant to the 10b5-1 arrangement. The actual number of shares sold will be dependent on the satisfaction of certain conditions as set forth in the written plan and, with respect to Ms. Bawa’s and Mr. Yuan’s plans, any shares sold to cover income tax withholding and remittance obligations in connection with the settlement of the equity award.

(1) Represents the adoption of a Rule 10b5-1 trading plan by a trust affiliated with Aparna Bawa.

(2) Represents the adoption of a Rule 10b5-1 trading plan by a trust affiliated with Eric Yuan.

Non-Rule 10b5-1 Arrangement Adopted

false

Non-Rule 10b5-1 Arrangement Terminated

false

Janet Napolitano [Member]

Trading Arrangements, by Individual

Name

Janet Napolitano

Title

Director

Rule 10b5-1 Arrangement Adopted

true

07/10/2024

10/09/2025

456 days

7,094

Trading Arrangements, by Individual

Name

Aparna Bawa

Title

Chief Operating Officer

Rule 10b5-1 Arrangement Adopted

true

05/22/2024

07/31/2025

435 days

98,598

Trading Arrangements, by Individual

Name

Eric Yuan

Title

Chief Executive Officer

Rule 10b5-1 Arrangement Adopted

true

07/12/2024

11/13/2025

489 days

1,288,909

Jonathan Chadwick Plan With June 2025 Expiration [Member] | Jonathan Chadwick [Member]

Trading Arrangements, by Individual

Name

Jonathan Chadwick

Title

Director

Rule 10b5-1 Arrangement Terminated

true

Termination Date

07/15/2024

Aggregate Available

40,000

Jonathan Chadwick Plan With October 2025 Expiration [Member] | Jonathan Chadwick [Member]

Trading Arrangements, by Individual

Name

Jonathan Chadwick

Title

Director

Rule 10b5-1 Arrangement Adopted

true

07/15/2024

10/31/2025

473 days

100,000

Stockholders’ Equity and Equity Incentive Plans

6 Months Ended

Jul. 31, 2024

Stockholders' Equity Note [Abstract]

Stockholders’ Equity and Equity Incentive Plans

Common Stock

Our amended and restated certificate of incorporation authorizes the issuance of 2,000,000,000 shares of Class A common stock, $0.001 par value per share, and 300,000,000 shares of Class B common stock, $0.001 par value per share. Class A and Class B common stock are referred to as common stock throughout the notes to the condensed consolidated financial statements, unless otherwise noted.

Stock Repurchase Program

In February 2024, our Board of Directors authorized a stock repurchase program of up to $1.5 billion of our Class A common stock. Repurchases of our Class A common stock may be effected from time to time, either on the open market (including preset trading plans), in privately negotiated transactions, and other transactions in accordance with applicable securities laws. The program does not obligate us to repurchase any specific number of shares and may be discontinued at any time.

During the three and six months ended July 31, 2024, we repurchased and subsequently retired 4,829,090 and 7,229,395 shares of our Class A common stock, respectively, for an aggregate amount of $287.6 million and $437.7 million, respectively. As of July 31, 2024, $1,062.3 million of the repurchase authorization remained available.

Equity Incentive Plans

We have two equity incentive plans: the 2011 Global Share Plan (“2011 Plan”) and the 2019 Equity Incentive Plan (“2019 Plan”). All shares that remain available for future grants are under the 2019 Plan.

Stock Options

A summary of stock option activity under our equity incentive plan and related information is as follows:


	Stock Options
	Outstanding Stock Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value

	(in thousands, except share, life, and per share data)
Balance as of January 31, 2024	3,314,228	$	8.21	3.9	$	189,921
Exercised	(221,827)	$	8.36		$	12,034
Canceled/forfeited/expired	(6,188)	$	92.67
Outstanding and exercisable as of July 31, 2024	3,086,213	$	8.03	3.4	$	164,855

As of July 31, 2024, all options have vested and there is no unrecognized stock-based compensation expense remaining.

Restricted Stock Units

A summary of RSU activity under our equity incentive plan and related information is as follows:


	RSUs
	RSUs	Weighted- Average Grant Date Fair Value Per Share
Unvested as of January 31, 2024	26,040,557	$	83.14
Granted	8,361,293	$	62.62

Vested	(6,778,788)	$	86.27
Canceled/forfeited	(1,932,193)	$	81.53
Unvested as of July 31, 2024	25,690,869	$	75.76

As of July 31, 2024, unrecognized stock-based compensation expense related to RSUs was $1,688.1 million, which is expected to be recognized over a weighted-average period of 2.6 years.

For the six months ended July 31, 2024, we granted 1.7 million RSUs that contain both service and performance vesting criteria. The ultimate number of shares eligible to vest pursuant to these RSUs range from 0% to 100% of the target number of shares depending on achievement of the performance metrics. The number of RSUs with service and performance vesting conditions included in the granted amount in the table above reflects the shares that would be eligible to vest at 100% of the target amount.

2019 Employee Stock Purchase Plan

In April 2019, we adopted the 2019 ESPP. As of July 31, 2024, unrecognized stock-based compensation expense related to the ESPP was $50.5 million, which is expected to be recognized over a weighted-average period of 1.5 years.

Stock-Based Compensation

The stock-based compensation expense by line item in the accompanying condensed consolidated statements of operations is summarized as follows:


	Three Months Ended July 31,				Six Months Ended July 31,
	2024		2023		2024		2023

	(in thousands)
Cost of revenue	$	31,299	$	37,535	$	62,874	$	75,624
Research and development	81,597		82,037		164,166		163,503
Sales and marketing	84,225		93,918		161,459		206,511
General and administrative	40,829		48,019		78,876		98,216
Total stock-based compensation expense	$	237,950	$	261,509	$	467,375	$	543,854
Benefit from income taxes	(43,742)		(48,766)		(87,216)		(98,443)
Total stock-based compensation expense recorded to net income	$	194,208	$	212,743	$	380,159	$	445,411

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 219,015	$ 181,974	$ 435,323	$ 197,418
Other comprehensive income (loss):
Unrealized gain (loss) on available-for-sale marketable securities, net of income tax (expense) benefit of $(6,038) and $553 for the three months ended July 31, 2024 and 2023, respectively, and $(346) and $(4,121) for the six months ended July 31, 2024 and 2023, respectively	19,681	(1,836)	1,128	13,678
Comprehensive income	$ 238,696	$ 180,138	$ 436,451	$ 211,096

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Restructuring Activities - Additional Information (Details) - USD ($)		3 Months Ended	6 Months Ended
	Feb. 07, 2023	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023	Jan. 31, 2024
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefits)		$ (187,000)	$ 0	$ 72,993,000
Restructuring liability			$ 0		$ 0
Employee Transition, Severance Payments, And Employee Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefits)		(400,000)		54,400,000
Employee Stock-Based Compensation Awards
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefits)				17,300,000
Other Related Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring costs (benefits)		$ 200,000		$ 1,300,000
The Plan
Restructuring Cost and Reserve [Line Items]
Reduction in current workforce	15.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Net Income Per Share - Schedule of Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Denominator:
Weighted-average shares used in computing net income per share, basic (in shares)	309,137,807	299,093,452	308,921,610	297,281,846
Weighted-average shares used in computing net income per share, diluted (in shares)	314,027,192	305,932,596	314,696,351	305,054,771
Net income per share, basic (in dollars per share)	$ 0.71	$ 0.61	$ 1.41	$ 0.66
Net income per share, diluted (in dollars per share)	$ 0.70	$ 0.59	$ 1.38	$ 0.65
Class A
Numerator:
Net income, basic	$ 186,687	$ 153,573	$ 370,754	$ 166,420
Reallocation of net income	(1,425)	(1,468)	(2,718)	(1,662)
Net income, diluted	$ 185,262	$ 152,105	$ 368,036	$ 164,758
Denominator:
Weighted-average shares used in computing net income per share, basic (in shares)	263,506,853	252,413,018	263,100,802	250,603,102
Weighted-average shares used in computing net income per share, diluted (in shares)	265,631,026	255,717,521	266,054,570	254,587,009
Net income per share, basic (in dollars per share)	$ 0.71	$ 0.61	$ 1.41	$ 0.66
Net income per share, diluted (in dollars per share)	$ 0.70	$ 0.59	$ 1.38	$ 0.65
Class B
Numerator:
Net income, basic	$ 32,328	$ 28,401	$ 64,569	$ 30,998
Reallocation of net income	1,425	1,468	2,718	1,662
Net income, diluted	$ 33,753	$ 29,869	$ 67,287	$ 32,660
Denominator:
Weighted-average shares used in computing net income per share, basic (in shares)	45,630,954	46,680,434	45,820,808	46,678,744
Weighted-average shares used in computing net income per share, diluted (in shares)	48,396,166	50,215,075	48,641,781	50,467,762
Net income per share, basic (in dollars per share)	$ 0.71	$ 0.61	$ 1.41	$ 0.66
Net income per share, diluted (in dollars per share)	$ 0.70	$ 0.59	$ 1.38	$ 0.65

Balance Sheet Components - Property and Equipment (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jan. 31, 2024
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 623,014	$ 530,021
Less: accumulated depreciation and amortization	(275,300)	(236,317)
Property and equipment, net	347,714	293,704
Servers
Property, Plant and Equipment [Line Items]
Property and equipment, gross	410,222	340,868
Software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	110,152	95,409
Computer and office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	43,776	44,571
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	53,396	43,981
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,468	$ 5,192

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Income Tax Disclosure [Abstract]
Income before provision for income taxes	$ 292,889	$ 250,373	$ 584,853	$ 293,603
Provision for income taxes	$ 73,874	$ 68,399	$ 149,530	$ 96,185
Effective tax rate	25.20%	27.30%	25.60%	32.80%

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

Balance Sheet Components - Accounts Receivable (Details) - USD ($) $ in Thousands	Jul. 31, 2024	Jan. 31, 2024	Jul. 31, 2023	Jan. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts receivable, gross	$ 551,036	$ 568,449
Less: allowance for credit losses	(18,988)	(25,916)	$ (38,093)	$ (24,900)
Less: allowance for returns	(3,811)	(6,455)
Accounts receivable, net	$ 528,237	$ 536,078

Balance Sheet Components

6 Months Ended

Jul. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

Accounts Receivable, Net

Accounts receivable are recorded for invoiced amounts and amounts for which revenue has been recognized, but not invoiced, net of allowances. Our short-term accounts receivable consist of the following:


	As of
	July 31, 2024		January 31, 2024

	(in thousands)
Accounts receivable, gross	$	551,036	$	568,449
Less: allowance for credit losses	(18,988)		(25,916)
Less: allowance for returns	(3,811)		(6,455)
Accounts receivable, net	$	528,237	$	536,078

Below is a rollforward of our allowance for credit losses for the six months ended July 31, 2024 and 2023:




	2024		2023
	(in thousands)
Balance as of January 31	$	25,916	$	24,900
Provision for credit losses	13,052		30,250
Write-offs	(19,980)		(17,057)
Balance as of July 31	$	18,988	$	38,093

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


	As of
	July 31, 2024		January 31, 2024

	(in thousands)
Prepaid expenses	$	129,490	$	188,259

Restricted cash	9,852		6,874
Other	10,032		24,049
Prepaid expenses and other current assets	$	149,374	$	219,182

Property and Equipment, Net

Property and equipment consisted of the following:


	As of
	July 31, 2024		January 31, 2024

	(in thousands)
Servers	$	410,222	$	340,868
Software	110,152		95,409
Computer and office equipment	43,776		44,571
Leasehold improvements	53,396		43,981
Furniture and fixtures	5,468		5,192
Property and equipment, gross	623,014		530,021
Less: accumulated depreciation and amortization	(275,300)		(236,317)
Property and equipment, net	$	347,714	$	293,704

Depreciation and amortization expense was $25.7 million and $22.6 million for the three months ended July 31, 2024 and 2023, respectively, and $49.0 million and $44.6 million for the six months ended July 31, 2024 and 2023, respectively.

Other Assets, Noncurrent

Other assets, noncurrent consisted of the following:


	As of
	July 31, 2024		January 31, 2024

	(in thousands)
Accounts receivable, noncurrent	$	14,743	$	26,099

Intangible assets subject to amortization, net	40,209		46,935
Indefinite-lived intangible assets	25,239		25,239
Prepaid expenses, noncurrent	25,574		23,351
Income tax receivable, noncurrent	9,800		—
Other	11,230		11,853
Other assets, noncurrent	$	126,795	$	133,477

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	As of
	July 31, 2024		January 31, 2024

	(in thousands)

Accrued expenses	$	169,509	$	173,993
Accrued compensation and benefits	121,722		185,128
Income tax liabilities	18,450		21,880
Sales and other non-income tax liabilities	36,203		35,460
Customer deposit liabilities	44,653		40,142
Operating lease liabilities, current	27,975		24,645


Other	20,947		18,916
Accrued expenses and other current liabilities	$	439,459	$	500,164

Other Liabilities, Noncurrent

Other liabilities, noncurrent consisted of the following:


	As of
	July 31, 2024		January 31, 2024

	(in thousands)
Sales and other non-income tax liabilities	$	43,628	$	42,254

Long-term income tax liabilities	40,668		33,864
Other	4,833		5,260
Other liabilities, noncurrent	$	89,129	$	81,378

Net Income Per Share - Summary of Potential Shares of Common Stock Excluded from Computation of Diluted Net Income Per Share Attributable to Common Stockholders (Details) - shares	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Class A
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	17,384,197	11,670,542	14,434,688	12,408,476
Class A \| Unvested RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	14,850,761	9,214,305	12,596,651	10,083,918
Class A \| Purchase rights committed under the ESPP
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	2,436,546	2,347,590	1,738,415	2,208,209
Class A \| Outstanding stock options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	96,890	108,647	99,622	116,349
Class A \| Shares Reserved for Transfer to Nonprofit Organizations
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)			405,156	405,156
Class B
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	0	0	0	0
Class B \| Unvested RSUs
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	0	0	0	0
Class B \| Purchase rights committed under the ESPP
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	0	0	0	0
Class B \| Outstanding stock options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	0	0	0	0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 31, 2024	Jan. 31, 2024
Current assets:
Cash and cash equivalents	$ 1,539,457	$ 1,558,252
Marketable securities	5,980,575	5,404,233
Accounts receivable, net of allowances of $22,799 and $32,371 as of July 31, 2024 and January 31, 2024, respectively	528,237	536,078
Deferred contract acquisition costs, current	197,502	208,474
Prepaid expenses and other current assets	149,374	219,182
Total current assets	8,395,145	7,926,219
Deferred contract acquisition costs, noncurrent	120,603	138,724
Property and equipment, net	347,714	293,704
Operating lease right-of-use assets	53,045	58,975
Strategic investments	438,529	409,222
Goodwill	307,295	307,295
Deferred tax assets	718,066	662,177
Other assets, noncurrent	126,795	133,477
Total assets	10,507,192	9,929,793
Current liabilities:
Accounts payable	10,611	10,175
Accrued expenses and other current liabilities	439,459	500,164
Deferred revenue, current	1,391,278	1,251,848
Total current liabilities	1,841,348	1,762,187
Deferred revenue, noncurrent	15,416	18,514
Operating lease liabilities, noncurrent	36,052	48,308
Other liabilities, noncurrent	89,129	81,378
Total liabilities	1,981,945	1,910,387
Commitments and contingencies (Note 7)
Stockholders’ equity:
Common stock, $0.001 par value per share, 2,000,000,000 Class A shares authorized as of July 31, 2024 and January 31, 2024; 262,335,183 and 260,896,822 shares issued and outstanding as of July 31, 2024 and January 31, 2024, respectively; 300,000,000 Class B shares authorized as of July 31, 2024 and January 31, 2024; 45,660,441 and 46,661,531 shares issued and outstanding as of July 31, 2024 and January 31, 2024, respectively	308	307
Additional paid-in capital	5,298,145	5,228,756
Accumulated other comprehensive income	2,191	1,063
Retained earnings	3,224,603	2,789,280
Total stockholders’ equity	8,525,247	8,019,406
Total liabilities and stockholders’ equity	$ 10,507,192	$ 9,929,793

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jul. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Non-cancelable Purchase Obligations As of July 31, 2024, we had outstanding non-cancelable purchase obligations with a term of 12 months or longer of approximately $75.4 million in addition to the amount disclosed in our Annual Report on Form 10-K for the year ended January 31, 2024 filed with the SEC on March 4, 2024, mainly related to third-party software services. Other Contingencies In June 2020, we received a grand jury subpoena from the Department of Justice’s U.S. Attorney’s Office for Eastern District of New York (“EDNY”), which requested information regarding our interactions with foreign governments and foreign political parties, including the Chinese government, as well as information regarding storage of and access to user data, the development and implementation of Zoom’s privacy policies, and the actions we took responding to law enforcement requests from the Chinese government. In July 2020, we received subpoenas from the Department of Justice’s U.S. Attorney’s Office for the Northern District of California (“NDCA”) and the SEC. Both subpoenas seek documents and information relating to various security, data protection and privacy matters, including our encryption, and our statements relating thereto, as well as calculation of usage metrics and related public statements. In addition, the NDCA subpoena seeks information relating to any contacts between our employees and representatives of the Chinese government, and any attempted or successful influence by any foreign government in our policies, procedures, practices, and actions as they relate to users in the United States. We have since received additional subpoenas from EDNY and NDCA seeking related information. We are fully cooperating with all of these investigations and have been conducting our own thorough internal investigation. These investigations are ongoing, and we do not know when they will be completed, which facts we will ultimately discover as a result of the investigations, or what actions the government may or may not take. We cannot predict the outcome of these investigations, and a negative outcome in any or all of these matters could cause us to incur substantial fines, penalties, or other financial exposure, as well as reputational harm. Legal Proceedings On June 11, 2020 and July 30, 2020, purported shareholder derivative complaints were filed in the United States District Court for the District of Delaware. The first complaint names as defendants nine of our officers and directors, and the second complaint names eight of our officers and directors. The lawsuits assert state and federal claims and are based on the same alleged misstatements as the shareholder class action complaint. The lawsuits accuse our board of directors of failing to exercise reasonable and prudent supervision over our management, policies, practices, and internal controls. The plaintiffs seek unspecified monetary damages on behalf of us as well as governance reforms. On September 25, 2020, the derivative cases were consolidated. On October 27, 2021, a third substantially identical lawsuit was filed in the same court against the same defendants, seeking unspecified monetary damages and governance reforms. On November 17, 2021, all three derivative lawsuits were consolidated. The consolidated case was stayed pending resolution of the motion to dismiss the securities class action. On April 11, 2023, the court entered a stipulated order that requires defendants to answer, move, or otherwise respond to the operative complaint by June 12, 2023. On June 12, 2023, defendants filed a motion to dismiss the consolidated case. On August 11, 2023, the plaintiff in the consolidated case filed an amended complaint. On October 18, 2023, defendants filed their motion to dismiss the amended complaint. On October 18, 2023, defendants filed their motion to dismiss the amended complaint. On December 22, 2023, plaintiff filed her opposition to the motion to dismiss, and on January 26, 2024, defendants filed their reply in support of the motion to dismiss. We are vigorously defending ourselves against these lawsuits. Given the uncertainty of litigation and the legal standards that must be met for, among other things, class certification and success on the merits, we cannot estimate the reasonably possible loss or range of loss that may result from these actions. On April 7, 2020 and April 8, 2020, securities class action complaints were filed against us and two of our officers in the United States District Court for the NDCA. The plaintiffs are purported stockholders of ours. The complaints allege, among other things, that we violated Sections 10(b) and 20(a) of the Exchange Act, and Rule 10b-5 by making false and misleading statements and omissions of material fact about our data privacy and security measures. The complaints seek unspecified damages, interest, fees, and costs. On May 18, 2020, the actions were consolidated. On November 4, 2020, the court appointed a lead plaintiff. On December 23, 2020, the lead plaintiff filed a consolidated complaint. We filed a motion to dismiss the consolidated complaint on May 20, 2021. Plaintiff filed an opposition to our motion to dismiss on July 9, 2021. Our reply in support of the motion to dismiss was filed on August 9, 2021. On February 16, 2022, the court granted in part, and denied in part, our motion to dismiss. On March 14, 2022, we moved for reconsideration of the court’s ruling on the motion to dismiss. On March 22, 2022, the court ordered plaintiff to respond to our motion, which plaintiff did on March 29, 2022. On April 22, 2022, we answered the complaint. On March 8, 2023, the court denied our motion for reconsideration. On April 6, 2023, the court entered a scheduling order. On July 17, 2023, the parties entered into a stipulation and agreement of settlement (the “Stipulation”) to resolve this matter. Under the terms of the stipulation, in exchange for the release and dismissal with prejudice of all claims against all defendants in the matter, we have agreed to pay and/or cause our insurance carriers to pay a total of $150.0 million. The Stipulation and settlement remain subject to preliminary and final approval by the court. On July 25, 2023, the court entered an order staying further proceedings in the matter pending the filing of a motion for preliminary approval of the settlement. On October 17, 2023, lead plaintiff filed a motion for preliminary approval of the settlement. A hearing on the motion for preliminary approval of the settlement was held on June 13, 2024. As a result of the settlement, we made net payments of $60.0 million ($150.0 million for the settlement net of $90.0 million covered by insurance) during the fiscal year ended January 31, 2024, of which $7.5 million had been accrued during the year ended January 31, 2023 and $52.5 million was recorded as a general and administrative expense in our consolidated statement of operations for the fiscal year ended January 31, 2024. In addition, from time to time, we are involved in various other legal proceedings arising from the normal course of business activities. We are not presently a party to any other such litigation the outcome of which, we believe, if determined adversely to us, would individually, or taken together, have a material adverse effect on our business, operating results, cash flows, or financial condition. Defending such proceedings is costly and can impose a significant burden on management and employees. We may receive unfavorable preliminary or interim rulings in the course of litigation, and there can be no assurances that favorable final outcomes will be obtained.

Stockholders’ Equity and Equity Incentive Plans - Summary of Restricted Stock Units Activity Under Equity Incentive Plan (Details) - RSUs	6 Months Ended
	Jul. 31, 2024 $ / shares shares
RSUs
Beginning balance (in shares) \| shares	26,040,557
Granted (in shares) \| shares	8,361,293
Vested (in shares) \| shares	(6,778,788)
Canceled/forfeited (in shares) \| shares	(1,932,193)
Ending balance (in shares) \| shares	25,690,869
Weighted- Average Grant Date Fair Value Per Share
Beginning balance (in dollars per share) \| $ / shares	$ 83.14
Granted (in dollars per share) \| $ / shares	62.62
Vested (in dollars per share) \| $ / shares	86.27
Canceled/forfeited (in dollars per share) \| $ / shares	81.53
Ending balance (in dollars per share) \| $ / shares	$ 75.76

Stockholders’ Equity and Equity Incentive Plans - Summary of Stock-Based Compensation Expense by Line Item (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2024	Jul. 31, 2023	Jul. 31, 2024	Jul. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 237,950	$ 261,509	$ 467,375	$ 543,854
Benefit from income taxes	(43,742)	(48,766)	(87,216)	(98,443)
Total stock-based compensation expense recorded to net income	194,208	212,743	380,159	445,411
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	31,299	37,535	62,874	75,624
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	81,597	82,037	164,166	163,503
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	84,225	93,918	161,459	206,511
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 40,829	$ 48,019	$ 78,876	$ 98,216

Fair Value Measurements

6 Months Ended

Jul. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements


	As of July 31, 2024
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	898,494	$	898,494	$	—	$	—
Treasury bills	113,107		—		113,107		—
Commercial paper	1,988		—		1,988		—

Cash equivalents	1,013,589		898,494		115,095		—
Commercial paper	19,636		—		19,636		—
Agency bonds	1,768,712		—		1,768,712		—
Corporate and other debt securities	712,223		—		712,223		—
U.S. government agency securities	3,359,559		—		3,359,559		—
Treasury bills	120,445		—		120,445		—
Marketable securities	5,980,575		—		5,980,575		—
Certificate of deposit included in prepaid expenses and other current assets	251		—		251		—


Publicly held equity securities included in strategic investments	26,880		26,880		—		—
Privately held debt securities included in strategic investments	4,403		—		—		4,403
Total financial assets	$	7,025,698	$	925,374	$	6,095,921	$	4,403


	As of January 31, 2024
	Fair Value		Level 1		Level 2		Level 3

	(in thousands)
Financial Assets:
Money market funds	$	851,100	$	851,100	$	—	$	—
Treasury bills	100,629		—		100,629		—
Corporate debt securities	2,715		—		2,715		—
Agency bonds	20,155		—		20,155		—
Cash equivalents	974,599		851,100		123,499		—
Commercial paper	41,564		—		41,564		—
Agency bonds	1,666,683		—		1,666,683		—
Corporate and other debt securities	663,159		—		663,159		—
U.S. government agency securities	3,004,842		—		3,004,842		—
Treasury bills	27,985		—		27,985		—
Marketable securities	5,404,233		—		5,404,233		—


Certificates of deposit included in other assets, noncurrent	254		—		254		—
Publicly held equity securities included in strategic investments	23,160		23,160		—		—
Privately held debt securities included in strategic investments	3,828		—		—		3,828
Total financial assets	$	6,406,074	$	874,260	$	5,527,986	$	3,828

We classify our highly liquid money market funds and publicly held equity securities within Level 1 of the fair value hierarchy because they are valued based on quoted market prices in active markets. We classify our commercial paper, agency bonds, corporate and other debt securities, U.S. government agency securities, treasury bills, and certificates of deposit within Level 2 because they are valued using inputs other than quoted prices that are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security, which may not be actively traded. We classify

our privately held debt securities as Level 3 due to the lack of relevant observable market data over fair value inputs, such as the probability weighting of the various scenarios that can impact settlement of the arrangement.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
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-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Restructuring Activities

6 Months Ended

Jul. 31, 2024

Restructuring and Related Activities [Abstract]

Restructuring Activities

On February 7, 2023, we announced a restructuring plan (the “Plan”) intended to reduce operating costs and continue advancing our ongoing commitment to profitable growth. The Plan included a reduction of our then-current workforce by approximately 15%. The execution of the Plan was completed as of July 31, 2023, and therefore no restructuring expense was recorded for the six months ended July 31, 2024.

For the three months ended July 31, 2023, we recorded net restructuring (benefits) costs of $(0.2) million, which consisted of $(0.4) million related to employee transition, severance payments, and employee benefits; and $0.2 million for other related expenses. For the six months ended July 31, 2023, we recorded net restructuring costs of $73.0 million, which consisted of $54.4 million related to employee transition, severance payments, and employee benefits; $17.3 million related to stock-based compensation awards; and $1.3 million for other related expenses.


	Three Months Ended July 31, 2023		Six Months Ended July 31, 2023
	(in thousands)
Cost of revenue	$	24	$	7,119
Research and development	327		19,629
Sales and marketing	(911)		32,930
General and administrative	373		13,315
Total restructuring (benefits) costs	$	(187)	$	72,993

There was no restructuring liability as of January 31, 2024 or July 31, 2024.