Pure Storage (PSTG) 10-Q 12 Jun 24 2025 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	May 05, 2024	Jun. 05, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 05, 2024
Document Transition Report	false
Entity File Number	001-37570
Entity Registrant Name	Pure Storage, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-1069557
Entity Address, Address Line One	2555 Augustine Dr.
Entity Address, City or Town	Santa Clara
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95054
City Area Code	800
Local Phone Number	379-7873
Title of 12(b) Security	Class A Common Stock, $0.0001 par value per share
Trading Symbol	PSTG
Security Exchange Name	NYSE
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
Entity Common Stock, Shares Outstanding		325,234,458
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001474432
Current Fiscal Year End Date	--02-02

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	May 05, 2024	Feb. 04, 2024
Current assets:
Cash and cash equivalents	$ 900,615	$ 702,536
Marketable securities	823,397	828,557
Accounts receivable, net of allowance of $1,060 and $965	423,454	662,179
Inventory	40,674	42,663
Deferred commissions, current	85,386	88,712
Prepaid expenses and other current assets	174,238	173,407
Total current assets	2,447,764	2,498,054
Property and equipment, net	368,153	352,604
Operating lease right-of-use assets	126,435	129,942
Deferred commissions, non-current	211,240	215,620
Intangible assets, net	29,156	33,012
Goodwill	361,427	361,427
Restricted cash	9,595	9,595
Other assets, non-current	69,840	55,506
Total assets	3,623,610	3,655,760
Current liabilities:
Accounts payable	55,709	82,757
Accrued compensation and benefits	137,669	250,257
Accrued expenses and other liabilities	127,885	135,755
Operating lease liabilities, current	44,819	44,668
Deferred revenue, current	860,221	852,247
Total current liabilities	1,226,303	1,365,684
Long-term debt	100,000	100,000
Operating lease liabilities, non-current	120,709	123,201
Deferred revenue, non-current	741,255	742,275
Other liabilities, non-current	61,370	54,506
Total liabilities	2,249,637	2,385,666
Commitments and contingencies (Note 7)
Stockholders’ equity:
Preferred stock, par value of $0.0001 per share— 20,000 shares authorized; no shares issued and outstanding	0	0
Class A and Class B common stock, par value of $0.0001 per share— 2,250,000 (Class A 2,000,000, Class B 250,000) shares authorized; 319,523 and 325,181 Class A shares issued and outstanding	33	32
Additional paid-in capital	2,890,284	2,749,595
Accumulated other comprehensive loss	(5,584)	(3,782)
Accumulated deficit	(1,510,760)	(1,475,751)
Total stockholders’ equity	1,373,973	1,270,094
Total liabilities and stockholders’ equity	$ 3,623,610	$ 3,655,760

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	May 05, 2024	Feb. 04, 2024
Accounts receivable, allowance	$ 965	$ 1,060
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	2,250,000,000	2,250,000,000
Class A common stock
Common stock, par value per share (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	325,181,000	319,523,000
Common stock, shares outstanding (in shares)	325,181,000	319,523,000
Class B common stock
Common stock, par value per share (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	250,000,000	250,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	May 05, 2024	May 07, 2023
Total revenue	$ 693,479	$ 589,307
Total cost of revenue	197,773	175,960
Gross profit	495,706	413,347
Operating expenses:
Research and development	193,820	185,331
Sales and marketing	250,972	232,446
General and administrative	76,787	67,384
Restructuring and impairment	15,901	0
Total operating expenses	537,480	485,161
Loss from operations	(41,774)	(71,814)
Other income (expense), net	14,091	11,749
Loss before provision for income taxes	(27,683)	(60,065)
Provision for income taxes	7,326	7,336
Net loss	$ (35,009)	$ (67,401)
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.11)	$ (0.22)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.11)	$ (0.22)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	322,589	305,863
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	322,589	305,863
Product
Total revenue	$ 347,384	$ 308,963
Total cost of revenue	100,753	96,213
Subscription services
Total revenue	346,095	280,344
Total cost of revenue	$ 97,020	$ 79,747

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	May 05, 2024	May 07, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (35,009)	$ (67,401)
Other comprehensive income (loss):
Unrealized net gains (losses) on available-for-sale securities	(1,640)	4,866
Less: reclassification adjustment for net gains on available-for-sale securities included in net loss	(162)	(268)
Change in unrealized net gains (losses) on available-for-sale securities	(1,802)	4,598
Comprehensive loss	$ (36,811)	$ (62,803)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance (in shares) at Feb. 05, 2023		304,076
Beginning balance at Feb. 05, 2023	$ 941,233	$ 30	$ 2,493,769	$ (15,504)	$ (1,537,062)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		790
Issuance of common stock upon exercise of stock options	4,619		4,619
Stock-based compensation expense	78,665		78,665
Vesting of restricted stock units (in shares)		3,670
Vesting of restricted stock units	0	$ 1	(1)
Tax withholding on vesting of restricted stock units (in shares)		(281)
Tax withholding on vesting of restricted stock units	(6,759)		(6,759)
Common stock issued under employee stock purchase plan (in shares)		1,069
Common stock issued under employee stock purchase plan	21,219		21,219
Repurchase of common stock (in shares)		(2,872)
Repurchases of common stock	(69,911)		(69,911)
Issuance of common stock upon conversion of convertible senior notes (in shares)		1
Issuance of common stock upon conversion of convertible senior notes	(456)		(456)
Other comprehensive income (loss)	4,598			4,598
Net loss	(67,401)				(67,401)
Ending balance (in shares) at May. 07, 2023		306,453
Ending balance at May. 07, 2023	905,807	$ 31	2,521,145	(10,906)	(1,604,463)
Beginning balance (in shares) at Feb. 04, 2024		319,523
Beginning balance at Feb. 04, 2024	1,270,094	$ 32	2,749,595	(3,782)	(1,475,751)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		1,034
Issuance of common stock upon exercise of stock options	13,223		13,223
Stock-based compensation expense	114,617		114,617
Vesting of restricted stock units (in shares)		3,679
Vesting of restricted stock units	0	$ 1	(1)
Tax withholding on vesting of restricted stock units (in shares)		(250)
Tax withholding on vesting of restricted stock units	(12,478)		(12,478)
Common stock issued under employee stock purchase plan (in shares)		1,195
Common stock issued under employee stock purchase plan	25,328		25,328
Other comprehensive income (loss)	(1,802)			(1,802)
Net loss	(35,009)				(35,009)
Ending balance (in shares) at May. 05, 2024		325,181
Ending balance at May. 05, 2024	$ 1,373,973	$ 33	$ 2,890,284	$ (5,584)	$ (1,510,760)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	May 05, 2024	May 07, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (35,009)	$ (67,401)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	33,943	29,690
Stock-based compensation expense	112,994	77,830
Noncash portion of lease impairment and abandonment	3,270	0
Other	1,606	(1,804)
Changes in operating assets and liabilities:
Accounts receivable, net	238,768	221,205
Inventory	(1,705)	308
Deferred commissions	7,707	(2,331)
Prepaid expenses and other assets	(9,219)	(6,095)
Operating lease right-of-use assets	8,122	11,001
Accounts payable	(26,581)	(3,993)
Accrued compensation and other liabilities	(109,124)	(89,082)
Operating lease liabilities	(10,226)	(6,100)
Deferred revenue	6,954	10,019
Net cash provided by operating activities	221,500	173,247
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(48,818)	(51,424)
Purchases of marketable securities and other	(165,123)	(128,788)
Sales of marketable securities	37,689	43,040
Maturities of marketable securities	127,857	288,373
Net cash provided by (used in) investing activities	(48,395)	151,201
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from exercise of stock options	13,223	4,630
Proceeds from issuance of common stock under employee stock purchase plan	25,328	21,219
Principal payments on borrowings and finance lease obligations	(1,099)	(576,780)
Proceeds from borrowings	0	100,000
Tax withholding on vesting of equity awards	(12,478)	(6,759)
Repurchases of common stock	0	(69,911)
Net cash provided by (used in) financing activities	24,974	(527,601)
Net increase (decrease) in cash, cash equivalents and restricted cash	198,079	(203,153)
Cash, cash equivalents and restricted cash, beginning of period	712,131	591,398
Cash, cash equivalents and restricted cash, end of period	910,210	388,245
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD
Cash and cash equivalents	900,615	378,285
Restricted cash	9,595	9,960
Cash, cash equivalents and restricted cash, end of period	910,210	388,245
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	1,743	390
Cash paid for income taxes	3,542	9,328
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION
Property and equipment purchased but not yet paid	$ 15,242	$ 22,036

Business Overview

Business Overview	3 Months Ended
	May 05, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Overview	Business Overview Pure Storage, Inc. (the Company, we, us, or other similar pronouns) was originally incorporated in the state of Delaware in October 2009 under the name OS76, Inc. In January 2010, we changed our name to Pure Storage, Inc. We are headquartered in Santa Clara, California and have wholly owned subsidiaries throughout the world.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	May 05, 2024
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation We operate using a 52/53 week fiscal year ending on the first Sunday after January 30, which for fiscal 2024 was February 4, 2024 and for fiscal 2025 will be February 2, 2025. The first quarter of fiscal 2024 and 2025 ended on May 7, 2023 and May 5, 2024. Unless otherwise stated, all dates refer to our fiscal year and fiscal quarters. The condensed consolidated financial statements include the accounts of the Company and our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Unaudited Interim Consolidated Financial Information The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for fiscal 2024. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year 2025 or any future period. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and accompanying notes. Actual results could differ from these estimates and assumptions due to risks and uncertainties. Such estimates include, but are not limited to, the determination of standalone selling price for revenue arrangements with multiple performance obligations when the price at which the performance obligation sold separately or observable past transactions are not available, useful lives of intangible assets and property and equipment, the period of benefit for deferred contract costs for commissions, stock-based compensation, provision for income taxes including related reserves, fair value of leases and impairment of related right-of-use (ROU) assets, fair value of equity assumed, intangible and tangible assets acquired and liabilities assumed for business combinations. Management bases its estimates on historical experience and on various other assumptions which management believes to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Restricted Cash Restricted cash is comprised of cash collateral for letters of credit related to our leases and for a vendor credit card program. At the end of fiscal 2024 and first quarter of fiscal 2025, we had restricted cash of $9.6 million. Recent Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires disclosure of incremental segment information on an annual and interim basis. ASU 2023-07 will be effective for our fiscal year beginning February 5, 2024, and interim periods within our fiscal year beginning February 3, 2025, with early adoption permitted and requires application on a fully retrospective basis. We are currently evaluating the impact of this standard on our financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires greater disaggregation of tax information in rate reconciliation and income taxes paid by jurisdiction. ASU 2023-09 will be effective for our fiscal year beginning February 3, 2025, with early adoption permitted. We are currently evaluating the impact of this standard on our financial statement disclosures.

Financial Instruments

Financial Instruments	3 Months Ended
	May 05, 2024
Investments, Debt and Equity Securities [Abstract]
Financial Instruments	Financial Instruments Fair Value Measurements We define fair value as the exchange price that would be received from sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We measure our financial assets and liabilities at fair value at each reporting period using a fair value hierarchy which requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Three levels of inputs may be used to measure fair value: • Level 1 - Observable inputs are unadjusted quoted prices in active markets for identical assets or liabilities; • Level 2 - Observable inputs are quoted prices for similar assets and liabilities in active markets or inputs other than quoted prices that are observable for the assets or liabilities, either directly or indirectly through market corroboration, for substantially the full term of the financial instruments; and • Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. These inputs are based on our own assumptions used to measure assets and liabilities at fair value and require significant management judgment or estimation. Cash Equivalents, Marketable Securities and Restricted Cash We measure our cash equivalents, marketable securities, and restricted cash at fair value on a recurring basis. We classify our cash equivalents, marketable securities and restricted cash within Level 1 or Level 2 because they are valued using either quoted market prices or inputs other than quoted prices which are directly or indirectly observable in the market, including readily-available pricing sources for the identical underlying security which may not be actively traded. Our fixed income available-for-sale securities consist of high quality, investment grade securities from diverse issuers. The valuation techniques used to measure the fair value of our marketable securities were derived from non-binding market consensus prices that are corroborated by observable market data or quoted market prices for similar instruments. The following tables summarize our cash equivalents, marketable securities and restricted cash by significant investment categories and their classification within the fair value hierarchy at the end of fiscal 2024 and the first quarter of fiscal 2025 (in thousands): At the End of Fiscal 2024 Amortized Gross Unrealized Gross Unrealized Fair Cash Equivalents Marketable Securities Restricted Cash Level 1 Money market accounts $ — $ — $ — $ 32,422 $ 22,827 $ — $ 9,595 Level 2 U.S. government treasury notes 340,168 584 (1,374) 339,378 1,834 337,544 — U.S. government agencies 4,397 2 — 4,399 — 4,399 — Corporate debt securities 419,051 1,163 (2,262) 417,952 — 417,952 — Foreign government bonds 1,290 6 (16) 1,280 — 1,280 — Asset-backed securities 65,947 279 (316) 65,910 — 65,910 — Municipal bonds 1,510 — (38) 1,472 — 1,472 — Total $ 832,363 $ 2,034 $ (4,006) $ 862,813 $ 24,661 $ 828,557 $ 9,595 At the End of the First Quarter of Fiscal 2025 Amortized Gross Unrealized Gross Unrealized Fair Cash Equivalents Marketable Restricted Cash Level 1 Money market accounts $ — $ — $ — $ 35,531 $ 25,936 $ — $ 9,595 Level 2 U.S. government treasury notes 331,983 23 (1,912) 330,094 10,442 319,652 — U.S. government agencies 4,398 1 (2) 4,397 — 4,397 — Corporate debt securities 424,317 418 (1,998) 422,737 — 422,737 — Foreign government bonds 1,290 1 (11) 1,280 — 1,280 — Asset-backed securities 74,115 50 (317) 73,848 — 73,848 — Municipal bonds 1,510 — (27) 1,483 — 1,483 — Total $ 837,613 $ 493 $ (4,267) $ 869,370 $ 36,378 $ 823,397 $ 9,595 The amortized cost and estimated fair value of our marketable securities are shown below by contractual maturity (in thousands): At the End of the First Quarter of Fiscal 2025 Amortized Cost Fair Value Due within one year $ 329,146 $ 326,989 Due in one to five years 495,475 493,878 Due in five to ten years 2,550 2,530 Total $ 827,171 $ 823,397 Unrealized losses on our marketable securities have not been recorded into income because we do not intend to sell nor is it more likely than not that we will be required to sell these investments prior to recovery of their amortized cost basis. The fair value of our marketable securities is impacted by the interest rate environment and related credit spreads. The credit ratings associated with our marketable securities are highly rated and the issuers continue to make timely principal and interest payments. As a result, there were no credit or non-credit impairment charges recorded in the first quarter of fiscal 2024 and 2025. The following table presents gross unrealized losses and fair values for those investments that were in a continuous unrealized loss position at the end of fiscal 2024 and the first quarter of fiscal 2025, aggregated by investment category (in thousands): At the End of Fiscal 2024 Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. government treasury notes $ 166,565 $ (725) $ 47,842 $ (649) $ 214,407 $ (1,374) Corporate debt securities 116,247 (260) 104,810 (2,002) 221,057 (2,262) Foreign government bonds — — 573 (16) 573 (16) Asset-backed securities 12,029 (34) 13,800 (282) 25,829 (316) Municipal bonds — — 1,472 (38) 1,472 (38) Total $ 294,841 $ (1,019) $ 168,497 $ (2,987) $ 463,338 $ (4,006) At the End of the First Quarter of Fiscal 2025 Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. government treasury notes $ 289,528 $ (1,567) $ 20,975 $ (345) $ 310,503 $ (1,912) U.S. government agencies 1,996 (2) — — 1,996 (2) Corporate debt securities 224,065 (795) 83,781 (1,203) 307,846 (1,998) Foreign government bonds — — 579 (11) 579 (11) Asset-backed securities 48,053 (174) 10,802 (143) 58,855 (317) Municipal bonds — — 1,483 (27) 1,483 (27) Total $ 563,642 $ (2,538) $ 117,620 $ (1,729) $ 681,262 $ (4,267) Realized gains or losses on sale of marketable securities were not significant for all periods presented. Other Financial Instruments The investments held in our nonqualified deferred compensation plan (NQDC) trust are considered trading securities that are measured at fair value using Level 1 inputs. The fair value of these investments was $3.2 million and $5.1 million at the end of fiscal 2024 and the first quarter of fiscal 2025.

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	May 05, 2024
Balance Sheet Components Disclosure [Abstract]
Balance Sheet Components	Balance Sheet Components Inventory Inventory consists of the following (in thousands): At the End of Fiscal 2024 First Quarter of Fiscal 2025 Raw materials $ 19,317 $ 18,130 Finished goods 23,346 22,544 Inventory $ 42,663 $ 40,674 Property and Equipment, Net Property and equipment, net consists of the following (in thousands): At the End of Fiscal 2024 First Quarter of Fiscal 2025 Test equipment $ 371,269 $ 390,646 Computer equipment and software 319,636 332,358 Furniture and fixtures 12,547 12,804 Leasehold improvements 92,926 97,629 Capitalized software development costs 36,474 42,789 Total property and equipment 832,852 876,226 Less: accumulated depreciation and amortization (480,248) (508,073) Property and equipment, net $ 352,604 $ 368,153 Depreciation and amortization expense related to property and equipment was $26.6 million and $31.1 million for the first quarter of fiscal 2024 and 2025. Intangible Assets, Net Intangible assets, net consist of the following (in thousands): At the End of Fiscal 2024 First Quarter of Fiscal 2025 Gross Carrying Value Accumulated Amortization Net Carrying Amount Gross Carrying Value Accumulated Amortization Net Carrying Amount Technology patents $ 19,125 $ (16,107) $ 3,018 $ 19,125 $ (16,428) $ 2,697 Developed technology 83,211 (56,589) 26,622 83,211 (59,894) 23,317 Customer relationships 6,459 (3,087) 3,372 6,459 (3,317) 3,142 Trade name 3,623 (3,623) — 3,623 (3,623) — Intangible assets, net $ 112,418 $ (79,406) $ 33,012 $ 112,418 $ (83,262) $ 29,156 Intangible assets amortization expense was $4.2 million and $3.9 million for the first quarter of fiscal 2024 and 2025. At the end of the first quarter of fiscal 2025, the weighted-average remaining amortization period was 1.0 years for technology patents, 1.8 years for developed technology, and 3.4 years for customer relationships. We record amortization of technology patents in general and administrative expenses due to their defensive nature, developed technology in cost of product revenue, and customer relationships in sales and marketing expenses in the condensed consolidated statements of operations. At the end of the first quarter of fiscal 2025, future expected amortization expense for intangible assets is as follows (in thousands): Fiscal Years Ending Estimated Future Remainder of 2025 $ 11,569 2026 12,830 2027 3,107 2028 1,054 2029 434 Thereafter 162 Total $ 29,156 Goodwill As of the end of fiscal 2024 and the first quarter of fiscal 2025, goodwill was $361.4 million. There were no impairments to goodwill during the first quarter of fiscal 2024 and 2025. Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consist of the following (in thousands): At the End of Fiscal 2024 First Quarter of Fiscal 2025 Taxes payable $ 13,097 $ 13,665 Accrued marketing 18,438 13,771 Accrued cloud and outside services 5,973 4,523 Supply chain-related accruals (1) 25,962 18,335 Accrued service logistics and professional services 9,636 10,370 Finance lease liabilities, current 4,204 4,384 Customer deposits from contracts with customers 23,534 22,981 Other accrued liabilities 34,911 39,856 Total accrued expenses and other liabilities $ 135,755 $ 127,885 _________________________________ (1) Primarily consists of warranty reserves and accruals related to inventory and inventory purchase commitments with our contract manufacturers.

Deferred Revenue and Commission

Deferred Revenue and Commissions	3 Months Ended
	May 05, 2024
Revenue from Contract with Customer [Abstract]
Deferred Revenue and Commissions	Deferred Revenue and Commissions Deferred Commissions Deferred commissions consist of incremental costs paid to our sales force to obtain customer contracts. Changes in total deferred commissions during the periods presented are as follows (in thousands): First Quarter of Fiscal 2024 2025 Beginning balance $ 245,856 $ 304,332 Additions 35,101 29,625 Recognition of deferred commissions (32,769) (37,331) Ending balance $ 248,188 $ 296,626 Of the $296.6 million total deferred commissions balance at the end of the first quarter of fiscal 2025, we expect to recognize approximately 29% as commission expense over the next 12 months and the remainder thereafter. There was no impairment related to capitalized commissions for the first quarter of fiscal 2024 and 2025. Deferred Revenue Deferred revenue primarily consists of amounts that have been invoiced but have not yet been recognized as revenue including performance obligations pertaining to subscription services. Changes in total deferred revenue during the periods presented are as follows (in thousands): First Quarter of Fiscal 2024 2025 Beginning balance $ 1,385,650 $ 1,594,522 Additions 280,268 341,789 Recognition of deferred revenue (270,248) (334,835) Ending balance $ 1,395,670 $ 1,601,476 Revenue recognized during the first quarter of fiscal 2024 and 2025 from deferred revenue at the beginning of each respective period was $244.7 million and $293.9 million. Remaining Performance Obligations Total remaining performance obligations (RPO) which is contracted but not recognized revenue was $2.3 billion at the end of the first quarter of fiscal 2025. Total RPO includes $57.0 million in remaining non-cancelable product orders, of which $21.5 million relates to a lessor arrangement that is further discussed in Note 8. RPO consists of both deferred revenue and non-cancelable amounts that are expected to be invoiced and recognized as revenue in future periods. Product orders are generally cancelable until delivery has occurred, and as such, unfulfilled product orders that are cancelable are excluded from RPO. Of the $2.3 billion RPO at the end of the first quarter of fiscal 2025, we expect to recognize approximately 48% over the next 12 months, and the remainder thereafter.

Debt

Debt	3 Months Ended
	May 05, 2024
Debt Disclosure [Abstract]
Debt	Debt Revolving Credit Facility In August 2020, we entered into a Credit Agreement with a consortium of financial institutions and lenders that provides for a five-year, senior secured revolving credit facility of $300.0 million (Credit Facility). Proceeds from the Credit Facility may be used for general corporate purposes and working capital. The Credit Facility expires, absent default or termination by us, on August 24, 2025. In March 2023, we amended the Credit Facility to transition LIBOR to the Secured Overnight Financing Rate (SOFR) effective April 1, 2023. The annual interest rates applicable to loans under the Credit Facility are, at our option, equal to either a base rate plus a margin ranging from 0.50% to 1.25% or term SOFR (based on one, three or six-month interest periods), subject to a floor of 0%, plus a margin ranging from 1.50% to 2.25%. Interest on revolving loans is payable quarterly in arrears with respect to loans based on the base rate and at the end of an interest period in the case of loans based on term SOFR (or at each three-month interval if the interest period is longer than three months). We are also required to pay a commitment fee on the unused portion of the commitments ranging from 0.25% to 0.40% per annum, payable quarterly in arrears. In April 2023, we borrowed $100.0 million under the Credit Facility which remained outstanding at the end of the first quarter of fiscal 2025. The outstanding borrowing bore weighted-average interest at an annual rate of 6.38% and 6.83% based on a one-month term SOFR period resulting in interest expense of $0.4 million and $2.0 million during the first quarter of fiscal 2024 and 2025.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	May 05, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Letters of Credit At the end of fiscal 2024 and the first quarter of fiscal 2025, we had outstanding letters of credit in the aggregate amount of $7.7 million in connection with our facility leases. The letters of credit are collateralized by either restricted cash or the Credit Facility and mature on various dates through September 2030. Legal Matters From time to time, we have become involved in claims and other legal matters arising in the normal course of business. We investigate these claims as they arise. Although claims are inherently unpredictable, we currently are not aware of any matters that we expect to have a material adverse effect on our business, financial position, results of operations or cash flows. Accordingly, no material loss contingency has been recorded on our condensed consolidated balance sheet as of the end of the first quarter of fiscal 2025. Indemnification Our arrangements generally include certain provisions for indemnifying customers against liabilities if our products or services infringe a third party’s intellectual property rights. Other guarantees or indemnification arrangements include guarantees of product and service performance and standby letters of credit for lease facilities. It is not possible to determine the maximum potential amount under these indemnification obligations due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular agreement. To date, we have not incurred any material costs as a result of such obligations and have not accrued any liabilities related to such obligations in the condensed consolidated financial statements. In addition, we indemnify our officers, directors and certain key employees while they are serving in good faith in their respective capacities. To date, there have been no claims under any indemnification provisions.

Leases

Leases	3 Months Ended
	May 05, 2024
Leases [Abstract]
Leases	Leases We lease office facilities under non-cancelable operating lease agreements expiring through July 2032. Our lease agreements do not contain any material residual value guarantees or restrictive covenants. During the first quarter of fiscal 2025, we entered into data center leases with a seven-year duration, and aggregate lease payments of $54.9 million, commencing in the second quarter of fiscal 2025 and therefore are excluded from our future lease payments tabular disclosure below. We also lease certain engineering test equipment under financing agreements. These finance leases have a lease term of three years and contain a bargain purchase option at the end of the respective lease term. It is reasonably certain that the bargain purchase option will be exercised. The components of lease costs during the periods presented were as follows (in thousands): First Quarter of Fiscal 2024 2025 Fixed operating lease cost $ 14,001 $ 10,989 Variable lease cost (1) 2,084 3,592 Short-term lease cost (12 months or less) 1,058 897 Finance lease cost: Amortization of finance lease right-of-use assets 1,100 1,100 Interest on finance lease liabilities 129 63 Total finance lease cost $ 1,229 $ 1,163 Total lease cost $ 18,372 $ 16,641 ____________________________________ (1) Variable lease cost predominantly included common area maintenance charges. Supplemental information related to leases is as follows (in thousands): At the End of Fiscal 2024 First Quarter of Fiscal 2025 Operating leases: Weighted-average remaining lease term (in years) 5.0 4.9 Weighted-average discount rate 7.1 % 7.2 % Finance leases: Finance lease right-of-use assets, gross $ 17,596 $ 17,596 Accumulated amortization (7,812) (8,912) Finance lease right-of-use assets, net (1) $ 9,784 $ 8,684 Finance lease liabilities, current (2) 4,204 4,384 Finance lease liabilities, non-current (3) 180 63 Total finance lease liabilities $ 4,384 $ 4,447 Weighted-average remaining lease term (in years) 2.4 2.2 Weighted-average discount rate 5.4 % 5.6 % ____________________________________ (1) Included in the condensed consolidated balance sheets within property and equipment, net. (2) Included in the condensed consolidated balance sheets within accrued expenses and other liabilities (3) Included in the condensed consolidated balance sheets within other liabilities, non-current Supplemental cash flow information related to leases is as follows (in thousands): First Quarter of Fiscal 2024 2025 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows for operating leases $ 8,425 $ 9,169 Financing cash outflows for finance leases $ 1,540 $ 802 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 7,580 $ 7,885 Future lease payments under our non-cancelable leases at the end of the first quarter of fiscal 2025 were as follows (in thousands): Fiscal Years Ending Operating Leases Finance Leases The remainder of 2025 $ 42,714 $ 4,347 2026 44,217 183 2027 27,097 — 2028 28,487 — 2029 23,270 — Thereafter 32,381 — Total future lease payments 198,166 4,530 Less: imputed interest (32,638) (83) Present value of total lease liabilities $ 165,528 $ 4,447 Lessor Arrangement During the fourth quarter of fiscal 2024, we, as a lessor, entered into a non-cancelable arrangement with a customer ("lessee") to lease our data storage solutions and subscription services. The arrangement includes three seven-year leases that commence in the first, second and fourth quarters of fiscal 2025 with total net consideration of $76.6 million, and provides the lessee with an end-of-term option to purchase the leased assets for a pre-determined price. We determined, at inception of the arrangement, that each of the three seven-year leases included multiple components. These components include sales-type leases, an operating lease, and non-lease components. The total net consideration for each lease was allocated to these components based on relative standalone selling price. The amounts allocated to the lease and non-lease components are accounted for in accordance with ASC 842 and ASC 606, respectively. Lease income associated with sales-type leases are classified as product revenue and lease income associated with operating leases and non-lease components are classified as subscription services revenue on our condensed consolidated statements of operations. The total net consideration for the first lease that commenced in the first quarter of fiscal 2025 ("First Lease") is $21.3 million. Of this amount, we recognized $7.2 million in product revenue related to a sales-type lease component. The associated profit was $5.3 million, based on the $7.2 million in product revenue less certain costs. Subscription services revenue related to the operating lease and non-lease components recognized during the first quarter of fiscal 2025 was not material. Future minimum gross lease payments for the First Lease allocated to the sales-type leases and operating lease components were as follows (in thousands). The remaining lease payments, allocated to the non-lease components, is $17.0 million and excluded from the table below. Fiscal Years Ending Sales-Type Leases Operating Lease The remainder of 2025 $ 1,381 $ 647 2026 1,381 646 2027 1,381 646 2028 2,028 — 2029 2,028 — Thereafter 4,056 — Total future lease payments to be received $ 12,255 $ 1,939

Restructuring and Impairment

Restructuring and Impairment	3 Months Ended
	May 05, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Impairment	Restructuring and Impairment Workforce Realignment In February 2024, we initiated a workforce realignment plan (the Plan) that impacted nearly 250 employees globally, resulting in total restructuring costs of $27.9 million associated with one-time severance and other termination benefits. We recognized $18.0 million in restructuring costs in the fourth quarter of fiscal 2024 and an additional $9.9 million in restructuring costs was recognized in the first quarter of fiscal 2025. Of the restructuring costs recognized in the first quarter of fiscal 2025, $9.5 million is presented in restructuring and impairment and $0.4 million is presented in cost of revenue in our condensed consolidated statement of operations. The execution of the Plan was substantially completed by the end of the first quarter of fiscal 2025. The following table summarizes our liability related to the Plan that is included within accrued compensation and benefits on our condensed consolidated balance sheet (in thousands): Workforce Realignment Costs Balance at the end of fiscal 2024 $ 18,009 Restructuring charges 9,855 Cash payments (21,373) Balance at the end of the first quarter of fiscal 2025 $ 6,491 Facilities Abandonment and Impairment During the first quarter of fiscal 2025, we recognized incremental abandonment and impairment charges of $3.9 million and $2.5 million, respectively, related to certain leases associated with our former corporate headquarters that we ceased use during the second quarter of fiscal 2024. The impairment charge represents the amount that the carrying value of the asset exceeded its estimated fair value, which was determined by utilizing a discounted cash flow approach that incorporated revised sublease assumptions.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	May 05, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Preferred Stock We have 20.0 million authorized shares of undesignated preferred stock, the rights, preferences and privileges of which may be designated from time to time by our Board of Directors. At the end of the first quarter of fiscal 2025, there were no shares of preferred stock issued or outstanding. Class A and Class B Common Stock We have two classes of authorized common stock, Class A common stock, which we refer to as our "common stock", and Class B common stock. At the end of the first quarter of fiscal 2025, we had 2.0 billion authorized shares of Class A common stock and 250.0 million authorized shares of Class B common stock, with each class having a par value of $0.0001 per share. At the end of the first quarter of fiscal 2025, 325.2 million shares of Class A common stock were issued and outstanding. Share Repurchase Program In February 2024, our Board of Directors authorized an additional $250.0 million to repurchase shares of our common stock. We did not repurchase shares of our common stock during the first quarter of fiscal 2025. At the end of the first quarter of fiscal 2025, $395.4 million remained available for future share repurchases under our current repurchase authorization.

Equity Incentive Plans

Equity Incentive Plans	3 Months Ended
	May 05, 2024
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plans	Equity Incentive Plans Equity Incentive Plans We maintain two equity incentive plans: the 2009 Equity Incentive Plan (the 2009 Plan) and the 2015 Equity Incentive Plan (the 2015 Plan). The 2015 Plan serves as the successor to our 2009 Plan and provides for grants of incentive stock options to our employees and non-statutory stock options, stock appreciation rights, restricted stock, restricted stock units, performance-based stock and cash awards, market-based stock awards, and other forms of stock awards to our employees, directors and consultants. Our equity awards generally vest over a two We net-share settle equity awards held by certain employees by withholding shares upon vesting to satisfy tax withholding obligations. The shares withheld to satisfy employee tax withholding obligations are returned to our 2015 Plan and will be available for future issuance. Payments for employees’ tax obligations to the tax authorities are recognized as a reduction to additional paid-in capital and reflected as a financing activity in our condensed consolidated statements of cash flows. 2015 Amended and Restated Employee Stock Purchase Plan Under our Amended and Restated 2015 Employee Stock Purchase Plan (2015 ESPP), our Board of Directors (or a committee thereof) has the authority to establish the length and terms of the offering periods and purchase periods and the purchase price of the shares of common stock which may be purchased under the plan. The current offering terms allow eligible employees to purchase shares of our common stock at a discount through payroll deductions of up to 30% of their eligible compensation, subject to a cap of 3,000 shares on any purchase date, a dollar cap of $7,500 per purchase period, or $25,000 in any calendar year (as determined under applicable tax rules). The current terms also allow for a 24-month offering period beginning March 16th and September 16th of each year, with each offering period consisting of four 6-month purchase periods, subject to a reset provision. Further, currently, on each purchase date, eligible employees may purchase our common stock at a price per share equal to 85% of the lesser of the fair market value of our common stock (1) on the first trading day of the applicable offering period or (2) the purchase date. Under the reset provision currently authorized, if the closing stock price on the offering date of a new offering falls below the closing stock price on the offering date of an ongoing offering, the ongoing offering would terminate immediately following the purchase of ESPP shares on the purchase date immediately preceding the new offering and participants in the terminated offering would automatically be enrolled in the new offering (ESPP reset), resulting in a modification charge to be recognized over the new offering period. An ESPP reset occurred during the first quarter of fiscal 2024 that resulted in a modification charge of $16.7 million, which is being recognized over an offering period ending March 15, 2025. Stock-based compensation expense related to our 2015 ESPP was $6.1 million and $8.0 million during the first quarter of fiscal 2024 and 2025. At the end of the first quarter of fiscal 2025, total unrecognized stock-based compensation cost related to our 2015 ESPP was $33.7 million, which is expected to be recognized over a weighted-average period of 1.0 years. Stock Options A summary of the stock option activity under our equity incentive plans and related information is as follows: Options Outstanding Number of Weighted- Weighted- Aggregate Balance at the end of fiscal 2024 4,493,934 $ 13.63 2.3 $ 129,065 Options exercised (1,034,342) 12.78 Options forfeited (593) 1.95 Balance at the end of the first quarter of fiscal 2025 3,458,999 $ 13.89 2.3 $ 133,119 Vested and exercisable at the end of the first quarter of fiscal 2025 3,451,936 $ 13.78 2.3 $ 132,763 The aggregate intrinsic value of options vested and exercisable at the end of the first quarter of fiscal 2025 is calculated based on the difference between the exercise price and the closing price of $52.24 of our common stock on the last day of the first quarter of fiscal 2025. Stock-based compensation expense recognized related to stock options was $0.7 million and $0.2 million during the first quarter of fiscal 2024 and 2025. At the end of the first quarter of fiscal 2025, total unrecognized employee stock-based compensation cost related to outstanding options was $0.1 million, which is expected to be recognized over a weighted-average period of 0.1 years. Restricted Stock Units (RSUs) A summary of the RSU activity under our equity incentive plans and related information is as follows: Number of RSUs Outstanding Weighted- Aggregate Unvested balance at the end of fiscal 2024 24,343,074 $ 26.77 $ 1,028,495 Granted 6,063,832 49.75 Vested (3,018,788) 22.88 Forfeited (1,020,204) 26.47 Unvested balance at the end of the first quarter of fiscal 2025 26,367,914 $ 32.51 $ 1,377,460 Stock-based compensation expense related to RSUs was $60.6 million and $67.7 million during the first quarter of fiscal 2024 and 2025. At the end of the first quarter of fiscal 2025, total unrecognized employee stock-based compensation cost related to unvested RSUs was $814.2 million, which is expected to be recognized over a weighted-average period of 3.0 years. Performance-based Restricted Stock Units (PRSUs) The number of shares that could be earned under our PRSU grants ranges from 0% to 200% of the target number granted depending on the achievement of certain performance conditions with any unearned shares canceled. The number of earned shares vest over three years from the date of grant subject to continuous service. A summary of the PRSU activity under our equity incentive plans and related information is as follows: Number of PRSUs Outstanding Weighted-Average Grant Date Fair Value Aggregate Intrinsic Value Unvested balance at the end of fiscal 2024 2,270,597 $ 25.64 $ 95,933 Granted (1) 1,102,502 49.46 Vested and earned (2) (660,376) 24.52 Unearned (3) (297,864) 23.86 Unvested balance at the end of the first quarter of fiscal 2025 2,414,859 $ 37.04 $ 126,152 ____________________________________ (1) Represents the number of shares that may be earned at the target percentage of 100% depending on the achievement of fiscal 2025 performance conditions. (2) Represents the number of shares earned in which the service condition has also been satisfied. (3) Represents the number of shares canceled as a result of not fully achieving the fiscal 2024 performance conditions. Stock-based compensation expense related to PRSUs was $10.4 million and $33.5 million during the first quarter of fiscal 2024 and 2025. At the end of the first quarter of fiscal 2025, total unrecognized employee stock-based compensation cost related to unvested PRSUs was $70.6 million, which is expected to be recognized over a weighted-average period of 2.6 years. During the first quarter of fiscal 2025, our Board of Directors approved a discretionary adjustment, increasing the earned number of shares to 80 percent of the target for the PRSUs granted in fiscal 2024. Our Board of Directors consideration included that fiscal 2024 total revenue growth was impacted by Total Contract Value (TCV) sales growth of our consumption based Evergreen//One and Evergreen//Flex offerings, which far exceeded expectations. This modification resulted in additional stock-based compensation expense of approximately $40.7 million, of which $28.7 million was recognized in the first quarter of fiscal 2025 with the remaining amount to be recognized over the remaining vesting period. Long-Term Performance Incentive RSUs (LTP Awards) In June 2023, we granted market-based LTP Awards to certain executives with an aggregate maximum number of shares of common stock of approximately 4.2 million. • The total number of shares earned are subject to continuous service through March 20, 2028 and upon vesting, the number of shares vested will be subject to a one-year post-vest holding period. • The number of shares earned are contingent upon our market capitalization meeting or exceeding $21 billion that will be measured over an approximate three Total stock-based compensation expense of $73.9 million for these awards is being recognized over the requisite service period of nearly five years using the accelerated attribution method and is not reversed if the market condition is not ultimately met. There were approximately 4.0 million in remaining unvested and outstanding LTP Awards with an aggregate intrinsic value of $209.3 million at the end of the first quarter of fiscal 2025. Stock-based compensation expense related to LTP Awards was $3.6 million during the first quarter of fiscal 2025. At the end of the first quarter of fiscal 2025, total unrecognized stock-based compensation cost related to unvested LTP Awards was $57.1 million, which is expected to be recognized over a weighted-average period of 3.9 years. Stock-Based Compensation Expense The following table summarizes the components of stock-based compensation expense recognized in the condensed consolidated statements of operations (in thousands): First Quarter of Fiscal 2024 2025 Cost of revenue—product $ 2,655 $ 2,782 Cost of revenue—subscription services 5,647 8,871 Research and development 38,232 50,294 Sales and marketing 17,181 23,519 General and administrative 14,115 27,528 Total stock-based compensation expense, net of amounts capitalized (1) $ 77,830 $ 112,994 _________________________________ (1) Stock-based compensation expense capitalized was $0.8 million and $1.6 million during the first quarter of fiscal 2024 and 2025. The tax benefit related to stock-based compensation expense for all periods presented was not material.

Net Loss per Share Attributable

Net Loss per Share Attributable to Common Stockholders	3 Months Ended
	May 05, 2024
Earnings Per Share [Abstract]
Net Loss per Share Attributable to Common Stockholders	Net Loss per Share Attributable to Common Stockholders Basic and diluted net loss per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. Basic net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase. Diluted net loss per share attributable to common stockholders is computed by giving effect to all potentially dilutive common stock equivalents, including our outstanding stock options, common stock related to unvested RSUs, PRSUs, and LTP Awards, the shares underlying the conversion option in our Notes (prior to the Notes being repaid in April 2023) to the extent dilutive, and common stock issuable pursuant to the ESPP. We used the if-converted method to calculate the impact of our Notes, prior to the Notes being repaid, on diluted EPS. In periods of net loss, all potentially dilutive common stock equivalents have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is anti-dilutive. The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data): First Quarter of Fiscal 2024 2025 Net loss $ (67,401) $ (35,009) Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 305,863 322,589 Net loss per share attributable to common stockholders, basic and diluted $ (0.22) $ (0.11) The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive (in thousands): First Quarter of Fiscal 2024 2025 Stock options to purchase common stock 8,874 3,883 Unvested RSUs and PRSUs 27,794 25,516 Shares related to convertible senior notes 17,315 — Shares issuable pursuant to the ESPP 822 775 Total 54,805 30,174

Other Income (Expense), Net

Other Income (Expense), Net	3 Months Ended
	May 05, 2024
Other Income and Expenses [Abstract]
Other Income (Expense), Net	Other Income (Expense), Net Other income (expense), net consists of the following (in thousands): First Quarter of Fiscal 2024 2025 Interest income (1) $ 12,989 $ 18,190 Interest expense (2) (1,385) (2,012) Foreign currency transactions gains (losses) 48 (2,092) Other income 97 5 Total other income (expense), net $ 11,749 $ 14,091 ____________________________________ (1) Interest income includes interest income related to our cash, cash equivalents and marketable securities and non-cash interest income (expense) related to accretion (amortization) of the discount (premium) on marketable securities. (2) Interest expense includes non-cash interest expense related to amortization of debt issuance costs, contractual interest expense related to our debt and accretion of our finance lease liabilities.

Income Taxes

Income Taxes	3 Months Ended
	May 05, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our provision for income tax primarily reflects taxes on international operations and U.S. income taxes. The difference between the income tax provision that would be derived by applying the statutory rate to our loss before provision for income taxes and the income tax provision recorded was primarily attributable to our valuation allowance on U.S. deferred tax assets, research and development credits, U.S. taxes on foreign income, stock-based compensation expense and state taxes driven by Internal Revenue Code Section 174. At the end of the first quarter of fiscal 2025, there were no material changes to either the nature or the amounts of the uncertain tax positions previously determined for fiscal 2024.

Segment Information

Segment Information	3 Months Ended
	May 05, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information Our chief operating decision maker is our Chief Executive Officer . Our chief operating decision maker reviews financial information presented on a consolidated basis fo r purposes of allocating resources and evaluating financial performance. Accordingly, we have a single reportable segment. Disaggregation of Revenue The following table depicts the disaggregation of revenue by geographic area based on the billing address of our customers and is consistent with how we evaluate our financial performance (in thousands): First Quarter of Fiscal 2024 2025 United States $ 427,164 $ 489,019 Rest of the world 162,143 204,460 Total revenue $ 589,307 $ 693,479 Long-Lived Assets by Geographic Area Long-lived assets, which are comprised of property and equipment, net, by geographic area are summarized as follows (in thousands): At the End of Fiscal 2024 First Quarter of Fiscal 2025 United States $ 340,121 $ 355,490 Rest of the world 12,483 12,663 Total long-lived assets $ 352,604 $ 368,153

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	May 05, 2024	May 07, 2023
Pay vs Performance Disclosure
Net loss	$ (35,009)	$ (67,401)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	May 05, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
John Colgrove [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On April 17, 2024, John Colgrove, our Chief Visionary Officer and a member of our Board of Directors, adopted a Rule 10b5-1 trading plan on behalf of the The Colgrove Family Charitable Remainder Trust, that is intended to satisfy the affirmative defense of Rule 10b5-1(c), which provides for the sale of up to 1,000,000 shares of our common stock on specified dates until the earlier of December 31, 2024, or when all the shares under Mr. Colgrove’s plan are sold.
Name	John Colgrove
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	April 17, 2024
Arrangement Duration	258 days
Aggregate Available	1,000,000
Dan FitzSimons [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On April 18, 2024, Dan FitzSimons, our Chief Revenue Officer, adopted a Rule 10b5-1 trading plan that is intended to satisfy the affirmative defense of Rule 10b5-1(c), which provides for the sale of up to 77,155 shares of our common stock on specified dates until the earlier of April 18, 2025, or when all the shares under Mr. FitzSimon’s plan are sold. The actual number of shares subject to the trading arrangement under the Rule 10b5-1 trading plan may be lower due to our withholding of certain shares to satisfy income tax withholding and remittance obligations in connection with the vesting and net settlement of restricted stock units.
Name	Dan FitzSimons
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	April 18, 2024
Arrangement Duration	365 days
Aggregate Available	77,155

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	May 05, 2024
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation We operate using a 52/53 week fiscal year ending on the first Sunday after January 30, which for fiscal 2024 was February 4, 2024 and for fiscal 2025 will be February 2, 2025. The first quarter of fiscal 2024 and 2025 ended on May 7, 2023 and May 5, 2024. Unless otherwise stated, all dates refer to our fiscal year and fiscal quarters. The condensed consolidated financial statements include the accounts of the Company and our wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Unaudited Interim Consolidated Financial Information	Unaudited Interim Consolidated Financial Information The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for fiscal 2024. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year 2025 or any future period.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and accompanying notes. Actual results could differ from these estimates and assumptions due to risks and uncertainties. Such estimates include, but are not limited to, the determination of standalone selling price for revenue arrangements with multiple performance obligations when the price at which the performance obligation sold separately or observable past transactions are not available, useful lives of intangible assets and property and equipment, the period of benefit for deferred contract costs for commissions, stock-based compensation, provision for income taxes including related reserves, fair value of leases and impairment of related right-of-use (ROU) assets, fair value of equity assumed, intangible and tangible assets acquired and liabilities assumed for business combinations. Management bases its estimates on historical experience and on various other assumptions which management believes to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.
Restricted Cash	Restricted Cash
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires disclosure of incremental segment information on an annual and interim basis. ASU 2023-07 will be effective for our fiscal year beginning February 5, 2024, and interim periods within our fiscal year beginning February 3, 2025, with early adoption permitted and requires application on a fully retrospective basis. We are currently evaluating the impact of this standard on our financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires greater disaggregation of tax information in rate reconciliation and income taxes paid by jurisdiction. ASU 2023-09 will be effective for our fiscal year beginning February 3, 2025, with early adoption permitted. We are currently evaluating the impact of this standard on our financial statement disclosures.
Fair Value Measurements	Fair Value Measurements We define fair value as the exchange price that would be received from sale of an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We measure our financial assets and liabilities at fair value at each reporting period using a fair value hierarchy which requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Three levels of inputs may be used to measure fair value: • Level 1 - Observable inputs are unadjusted quoted prices in active markets for identical assets or liabilities; • Level 2 - Observable inputs are quoted prices for similar assets and liabilities in active markets or inputs other than quoted prices that are observable for the assets or liabilities, either directly or indirectly through market corroboration, for substantially the full term of the financial instruments; and • Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. These inputs are based on our own assumptions used to measure assets and liabilities at fair value and require significant management judgment or estimation.

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	May 05, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Cash Equivalents, Marketable Securities and Restricted Cash	The following tables summarize our cash equivalents, marketable securities and restricted cash by significant investment categories and their classification within the fair value hierarchy at the end of fiscal 2024 and the first quarter of fiscal 2025 (in thousands): At the End of Fiscal 2024 Amortized Gross Unrealized Gross Unrealized Fair Cash Equivalents Marketable Securities Restricted Cash Level 1 Money market accounts $ — $ — $ — $ 32,422 $ 22,827 $ — $ 9,595 Level 2 U.S. government treasury notes 340,168 584 (1,374) 339,378 1,834 337,544 — U.S. government agencies 4,397 2 — 4,399 — 4,399 — Corporate debt securities 419,051 1,163 (2,262) 417,952 — 417,952 — Foreign government bonds 1,290 6 (16) 1,280 — 1,280 — Asset-backed securities 65,947 279 (316) 65,910 — 65,910 — Municipal bonds 1,510 — (38) 1,472 — 1,472 — Total $ 832,363 $ 2,034 $ (4,006) $ 862,813 $ 24,661 $ 828,557 $ 9,595 At the End of the First Quarter of Fiscal 2025 Amortized Gross Unrealized Gross Unrealized Fair Cash Equivalents Marketable Restricted Cash Level 1 Money market accounts $ — $ — $ — $ 35,531 $ 25,936 $ — $ 9,595 Level 2 U.S. government treasury notes 331,983 23 (1,912) 330,094 10,442 319,652 — U.S. government agencies 4,398 1 (2) 4,397 — 4,397 — Corporate debt securities 424,317 418 (1,998) 422,737 — 422,737 — Foreign government bonds 1,290 1 (11) 1,280 — 1,280 — Asset-backed securities 74,115 50 (317) 73,848 — 73,848 — Municipal bonds 1,510 — (27) 1,483 — 1,483 — Total $ 837,613 $ 493 $ (4,267) $ 869,370 $ 36,378 $ 823,397 $ 9,595
Schedule of Amortized Cost and Estimated Fair Value	The amortized cost and estimated fair value of our marketable securities are shown below by contractual maturity (in thousands): At the End of the First Quarter of Fiscal 2025 Amortized Cost Fair Value Due within one year $ 329,146 $ 326,989 Due in one to five years 495,475 493,878 Due in five to ten years 2,550 2,530 Total $ 827,171 $ 823,397
Schedule of Gross Unrealized Losses and Fair Values	The following table presents gross unrealized losses and fair values for those investments that were in a continuous unrealized loss position at the end of fiscal 2024 and the first quarter of fiscal 2025, aggregated by investment category (in thousands): At the End of Fiscal 2024 Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. government treasury notes $ 166,565 $ (725) $ 47,842 $ (649) $ 214,407 $ (1,374) Corporate debt securities 116,247 (260) 104,810 (2,002) 221,057 (2,262) Foreign government bonds — — 573 (16) 573 (16) Asset-backed securities 12,029 (34) 13,800 (282) 25,829 (316) Municipal bonds — — 1,472 (38) 1,472 (38) Total $ 294,841 $ (1,019) $ 168,497 $ (2,987) $ 463,338 $ (4,006) At the End of the First Quarter of Fiscal 2025 Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. government treasury notes $ 289,528 $ (1,567) $ 20,975 $ (345) $ 310,503 $ (1,912) U.S. government agencies 1,996 (2) — — 1,996 (2) Corporate debt securities 224,065 (795) 83,781 (1,203) 307,846 (1,998) Foreign government bonds — — 579 (11) 579 (11) Asset-backed securities 48,053 (174) 10,802 (143) 58,855 (317) Municipal bonds — — 1,483 (27) 1,483 (27) Total $ 563,642 $ (2,538) $ 117,620 $ (1,729) $ 681,262 $ (4,267)

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	May 05, 2024
Balance Sheet Components Disclosure [Abstract]
Schedule of Inventory	Inventory consists of the following (in thousands): At the End of Fiscal 2024 First Quarter of Fiscal 2025 Raw materials $ 19,317 $ 18,130 Finished goods 23,346 22,544 Inventory $ 42,663 $ 40,674
Schedule of Property and Equipment, Net	Property and equipment, net consists of the following (in thousands): At the End of Fiscal 2024 First Quarter of Fiscal 2025 Test equipment $ 371,269 $ 390,646 Computer equipment and software 319,636 332,358 Furniture and fixtures 12,547 12,804 Leasehold improvements 92,926 97,629 Capitalized software development costs 36,474 42,789 Total property and equipment 832,852 876,226 Less: accumulated depreciation and amortization (480,248) (508,073) Property and equipment, net $ 352,604 $ 368,153
Schedule of Intangible Assets, Net	Intangible assets, net consist of the following (in thousands): At the End of Fiscal 2024 First Quarter of Fiscal 2025 Gross Carrying Value Accumulated Amortization Net Carrying Amount Gross Carrying Value Accumulated Amortization Net Carrying Amount Technology patents $ 19,125 $ (16,107) $ 3,018 $ 19,125 $ (16,428) $ 2,697 Developed technology 83,211 (56,589) 26,622 83,211 (59,894) 23,317 Customer relationships 6,459 (3,087) 3,372 6,459 (3,317) 3,142 Trade name 3,623 (3,623) — 3,623 (3,623) — Intangible assets, net $ 112,418 $ (79,406) $ 33,012 $ 112,418 $ (83,262) $ 29,156
Schedule of Expected Amortization Expenses for Intangible Assets	At the end of the first quarter of fiscal 2025, future expected amortization expense for intangible assets is as follows (in thousands): Fiscal Years Ending Estimated Future Remainder of 2025 $ 11,569 2026 12,830 2027 3,107 2028 1,054 2029 434 Thereafter 162 Total $ 29,156
Schedule of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following (in thousands): At the End of Fiscal 2024 First Quarter of Fiscal 2025 Taxes payable $ 13,097 $ 13,665 Accrued marketing 18,438 13,771 Accrued cloud and outside services 5,973 4,523 Supply chain-related accruals (1) 25,962 18,335 Accrued service logistics and professional services 9,636 10,370 Finance lease liabilities, current 4,204 4,384 Customer deposits from contracts with customers 23,534 22,981 Other accrued liabilities 34,911 39,856 Total accrued expenses and other liabilities $ 135,755 $ 127,885 _________________________________ (1) Primarily consists of warranty reserves and accruals related to inventory and inventory purchase commitments with our contract manufacturers.

Deferred Revenue and Commissi_2

Deferred Revenue and Commissions (Tables)	3 Months Ended
	May 05, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Deferred Commissions	Changes in total deferred commissions during the periods presented are as follows (in thousands): First Quarter of Fiscal 2024 2025 Beginning balance $ 245,856 $ 304,332 Additions 35,101 29,625 Recognition of deferred commissions (32,769) (37,331) Ending balance $ 248,188 $ 296,626
Schedule of Deferred Revenue	Changes in total deferred revenue during the periods presented are as follows (in thousands): First Quarter of Fiscal 2024 2025 Beginning balance $ 1,385,650 $ 1,594,522 Additions 280,268 341,789 Recognition of deferred revenue (270,248) (334,835) Ending balance $ 1,395,670 $ 1,601,476

Leases (Tables)

Leases (Tables)	3 Months Ended
	May 05, 2024
Leases [Abstract]
Schedule of Components of Lease Cost	The components of lease costs during the periods presented were as follows (in thousands): First Quarter of Fiscal 2024 2025 Fixed operating lease cost $ 14,001 $ 10,989 Variable lease cost (1) 2,084 3,592 Short-term lease cost (12 months or less) 1,058 897 Finance lease cost: Amortization of finance lease right-of-use assets 1,100 1,100 Interest on finance lease liabilities 129 63 Total finance lease cost $ 1,229 $ 1,163 Total lease cost $ 18,372 $ 16,641 ____________________________________ (1) Variable lease cost predominantly included common area maintenance charges. Supplemental information related to leases is as follows (in thousands): At the End of Fiscal 2024 First Quarter of Fiscal 2025 Operating leases: Weighted-average remaining lease term (in years) 5.0 4.9 Weighted-average discount rate 7.1 % 7.2 % Finance leases: Finance lease right-of-use assets, gross $ 17,596 $ 17,596 Accumulated amortization (7,812) (8,912) Finance lease right-of-use assets, net (1) $ 9,784 $ 8,684 Finance lease liabilities, current (2) 4,204 4,384 Finance lease liabilities, non-current (3) 180 63 Total finance lease liabilities $ 4,384 $ 4,447 Weighted-average remaining lease term (in years) 2.4 2.2 Weighted-average discount rate 5.4 % 5.6 % ____________________________________ (1) Included in the condensed consolidated balance sheets within property and equipment, net. (2) Included in the condensed consolidated balance sheets within accrued expenses and other liabilities (3) Included in the condensed consolidated balance sheets within other liabilities, non-current
Schedule of Cash Flow, Supplemental Disclosures	Supplemental cash flow information related to leases is as follows (in thousands): First Quarter of Fiscal 2024 2025 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows for operating leases $ 8,425 $ 9,169 Financing cash outflows for finance leases $ 1,540 $ 802 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 7,580 $ 7,885
Schedule of Future Lease Payments Under Non-Cancelable Leases	Future lease payments under our non-cancelable leases at the end of the first quarter of fiscal 2025 were as follows (in thousands): Fiscal Years Ending Operating Leases Finance Leases The remainder of 2025 $ 42,714 $ 4,347 2026 44,217 183 2027 27,097 — 2028 28,487 — 2029 23,270 — Thereafter 32,381 — Total future lease payments 198,166 4,530 Less: imputed interest (32,638) (83) Present value of total lease liabilities $ 165,528 $ 4,447
Sales-Type Leases, Payment to be Received, Maturity	Future minimum gross lease payments for the First Lease allocated to the sales-type leases and operating lease components were as follows (in thousands). The remaining lease payments, allocated to the non-lease components, is $17.0 million and excluded from the table below. Fiscal Years Ending Sales-Type Leases Operating Lease The remainder of 2025 $ 1,381 $ 647 2026 1,381 646 2027 1,381 646 2028 2,028 — 2029 2,028 — Thereafter 4,056 — Total future lease payments to be received $ 12,255 $ 1,939
Lessor, Operating Lease, Payment to be Received, Maturity	Future minimum gross lease payments for the First Lease allocated to the sales-type leases and operating lease components were as follows (in thousands). The remaining lease payments, allocated to the non-lease components, is $17.0 million and excluded from the table below. Fiscal Years Ending Sales-Type Leases Operating Lease The remainder of 2025 $ 1,381 $ 647 2026 1,381 646 2027 1,381 646 2028 2,028 — 2029 2,028 — Thereafter 4,056 — Total future lease payments to be received $ 12,255 $ 1,939

Restructuring and Impairment (T

Restructuring and Impairment (Tables)	3 Months Ended
	May 05, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	The following table summarizes our liability related to the Plan that is included within accrued compensation and benefits on our condensed consolidated balance sheet (in thousands): Workforce Realignment Costs Balance at the end of fiscal 2024 $ 18,009 Restructuring charges 9,855 Cash payments (21,373) Balance at the end of the first quarter of fiscal 2025 $ 6,491

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	3 Months Ended
	May 05, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Activity Under Equity Incentive Plans and Related Information	A summary of the stock option activity under our equity incentive plans and related information is as follows: Options Outstanding Number of Weighted- Weighted- Aggregate Balance at the end of fiscal 2024 4,493,934 $ 13.63 2.3 $ 129,065 Options exercised (1,034,342) 12.78 Options forfeited (593) 1.95 Balance at the end of the first quarter of fiscal 2025 3,458,999 $ 13.89 2.3 $ 133,119 Vested and exercisable at the end of the first quarter of fiscal 2025 3,451,936 $ 13.78 2.3 $ 132,763
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	A summary of the RSU activity under our equity incentive plans and related information is as follows: Number of RSUs Outstanding Weighted- Aggregate Unvested balance at the end of fiscal 2024 24,343,074 $ 26.77 $ 1,028,495 Granted 6,063,832 49.75 Vested (3,018,788) 22.88 Forfeited (1,020,204) 26.47 Unvested balance at the end of the first quarter of fiscal 2025 26,367,914 $ 32.51 $ 1,377,460
Schedule of Share-Based Payment Arrangement, Performance Restricted Stock Unit, Activity	A summary of the PRSU activity under our equity incentive plans and related information is as follows: Number of PRSUs Outstanding Weighted-Average Grant Date Fair Value Aggregate Intrinsic Value Unvested balance at the end of fiscal 2024 2,270,597 $ 25.64 $ 95,933 Granted (1) 1,102,502 49.46 Vested and earned (2) (660,376) 24.52 Unearned (3) (297,864) 23.86 Unvested balance at the end of the first quarter of fiscal 2025 2,414,859 $ 37.04 $ 126,152 ____________________________________ (1) Represents the number of shares that may be earned at the target percentage of 100% depending on the achievement of fiscal 2025 performance conditions. (2) Represents the number of shares earned in which the service condition has also been satisfied. (3) Represents the number of shares canceled as a result of not fully achieving the fiscal 2024 performance conditions.
Summarizes the Components of Stock-Based Compensation	The following table summarizes the components of stock-based compensation expense recognized in the condensed consolidated statements of operations (in thousands): First Quarter of Fiscal 2024 2025 Cost of revenue—product $ 2,655 $ 2,782 Cost of revenue—subscription services 5,647 8,871 Research and development 38,232 50,294 Sales and marketing 17,181 23,519 General and administrative 14,115 27,528 Total stock-based compensation expense, net of amounts capitalized (1) $ 77,830 $ 112,994 _________________________________ (1) Stock-based compensation expense capitalized was $0.8 million and $1.6 million during the first quarter of fiscal 2024 and 2025.

Net Income (Loss) per Share Att

Net Income (Loss) per Share Attributable to Common Stockholders (Tables)	3 Months Ended
	May 05, 2024
Earnings Per Share [Abstract]
Summary of Computation of Basic and Diluted Net Loss per Share Attributable to Common Stockholders	The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data): First Quarter of Fiscal 2024 2025 Net loss $ (67,401) $ (35,009) Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 305,863 322,589 Net loss per share attributable to common stockholders, basic and diluted $ (0.22) $ (0.11)
Summary of Weighted-average Outstanding Shares Excluded from Computation of Diluted Net Loss per Share Attributable to Common Stockholders	The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive (in thousands): First Quarter of Fiscal 2024 2025 Stock options to purchase common stock 8,874 3,883 Unvested RSUs and PRSUs 27,794 25,516 Shares related to convertible senior notes 17,315 — Shares issuable pursuant to the ESPP 822 775 Total 54,805 30,174

Other Income (Expense), Net (Ta

Other Income (Expense), Net (Tables)	3 Months Ended
	May 05, 2024
Other Income and Expenses [Abstract]
Summary of Other Income (Expense)	Other income (expense), net consists of the following (in thousands): First Quarter of Fiscal 2024 2025 Interest income (1) $ 12,989 $ 18,190 Interest expense (2) (1,385) (2,012) Foreign currency transactions gains (losses) 48 (2,092) Other income 97 5 Total other income (expense), net $ 11,749 $ 14,091 ____________________________________ (1) Interest income includes interest income related to our cash, cash equivalents and marketable securities and non-cash interest income (expense) related to accretion (amortization) of the discount (premium) on marketable securities. (2) Interest expense includes non-cash interest expense related to amortization of debt issuance costs, contractual interest expense related to our debt and accretion of our finance lease liabilities.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	May 05, 2024
Segment Reporting [Abstract]
Schedule of Revenue by Geographic Area	The following table depicts the disaggregation of revenue by geographic area based on the billing address of our customers and is consistent with how we evaluate our financial performance (in thousands): First Quarter of Fiscal 2024 2025 United States $ 427,164 $ 489,019 Rest of the world 162,143 204,460 Total revenue $ 589,307 $ 693,479
Schedule of Long-Lived Assets by Geographic Area	Long-lived assets, which are comprised of property and equipment, net, by geographic area are summarized as follows (in thousands): At the End of Fiscal 2024 First Quarter of Fiscal 2025 United States $ 340,121 $ 355,490 Rest of the world 12,483 12,663 Total long-lived assets $ 352,604 $ 368,153

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	May 05, 2024	Feb. 04, 2024	May 07, 2023
Accounting Policies [Abstract]
Restricted cash	$ 9,595	$ 9,595	$ 9,960

Financial Instruments - Cash Eq

Financial Instruments - Cash Equivalents, Marketable Securities and Restricted Cash (Details) - USD ($) $ in Thousands	May 05, 2024	Feb. 04, 2024
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 827,171
Fair Value	823,397
Cash Equivalents	36,378	$ 24,661
Marketable Securities	823,397	828,557
Restricted Cash	9,595	9,595
Amortized Cost	837,613	832,363
Total gross unrealized gains	493	2,034
Total gross unrealized losses	(4,267)	(4,006)
Total fair value	869,370	862,813
Level 1 | Money market accounts
Debt Securities, Available-for-sale [Line Items]
Fair Value	35,531	32,422
Cash Equivalents	25,936	22,827
Marketable Securities	0	0
Restricted Cash	9,595	9,595
Level 2 | U.S. government treasury notes
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	331,983	340,168
Gross Unrealized Gains	23	584
Gross Unrealized Losses	(1,912)	(1,374)
Fair Value	330,094	339,378
Cash Equivalents	10,442	1,834
Marketable Securities	319,652	337,544
Restricted Cash	0	0
Level 2 | U.S. government agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,398	4,397
Gross Unrealized Gains	1	2
Gross Unrealized Losses	(2)	0
Fair Value	4,397	4,399
Cash Equivalents	0	0
Marketable Securities	4,397	4,399
Restricted Cash	0	0
Level 2 | Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	424,317	419,051
Gross Unrealized Gains	418	1,163
Gross Unrealized Losses	(1,998)	(2,262)
Fair Value	422,737	417,952
Cash Equivalents	0	0
Marketable Securities	422,737	417,952
Restricted Cash	0	0
Level 2 | Foreign government bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,290	1,290
Gross Unrealized Gains	1	6
Gross Unrealized Losses	(11)	(16)
Fair Value	1,280	1,280
Cash Equivalents	0	0
Marketable Securities	1,280	1,280
Restricted Cash	0	0
Level 2 | Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	74,115	65,947
Gross Unrealized Gains	50	279
Gross Unrealized Losses	(317)	(316)
Fair Value	73,848	65,910
Cash Equivalents	0	0
Marketable Securities	73,848	65,910
Restricted Cash	0	0
Level 2 | Municipal bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,510	1,510
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(27)	(38)
Fair Value	1,483	1,472
Cash Equivalents	0	0
Marketable Securities	1,483	1,472
Restricted Cash	$ 0	$ 0

Financial Instruments - Amortiz

Financial Instruments - Amortized Cost and Estimated Fair Value (Details) - USD ($)	3 Months Ended
	May 05, 2024	May 07, 2023
Amortized Cost
Due within one year	$ 329,146,000
Due in one to five years	495,475,000
Due in five to ten years	2,550,000
Amortized Cost	827,171,000
Fair Value
Due within one year	326,989,000
Due in one to five years	493,878,000
Due in five to ten years	2,530,000
Total	823,397,000
Impairment charge for unrealized losses	$ 0	$ 0

Financial Instruments - Gross U

Financial Instruments - Gross Unrealized Losses and Fair Values (Details) - USD ($) $ in Thousands	May 05, 2024	Feb. 04, 2024
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Fair Value, Less than 12 months	$ 563,642	$ 294,841
Unrealized Loss, Less than 12 months	(2,538)	(1,019)
Fair Value, Greater than 12 months	117,620	168,497
Unrealized Loss, Greater than 12 months	(1,729)	(2,987)
Fair Value, Total	681,262	463,338
Unrealized Loss, Total	(4,267)	(4,006)
U.S. government treasury notes
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Fair Value, Less than 12 months	289,528	166,565
Unrealized Loss, Less than 12 months	(1,567)	(725)
Fair Value, Greater than 12 months	20,975	47,842
Unrealized Loss, Greater than 12 months	(345)	(649)
Fair Value, Total	310,503	214,407
Unrealized Loss, Total	(1,912)	(1,374)
U.S. government agencies
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Fair Value, Less than 12 months	1,996
Unrealized Loss, Less than 12 months	(2)
Fair Value, Greater than 12 months	0
Unrealized Loss, Greater than 12 months	0
Fair Value, Total	1,996
Unrealized Loss, Total	(2)
Corporate debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Fair Value, Less than 12 months	224,065	116,247
Unrealized Loss, Less than 12 months	(795)	(260)
Fair Value, Greater than 12 months	83,781	104,810
Unrealized Loss, Greater than 12 months	(1,203)	(2,002)
Fair Value, Total	307,846	221,057
Unrealized Loss, Total	(1,998)	(2,262)
Foreign government bonds
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Fair Value, Less than 12 months	0	0
Unrealized Loss, Less than 12 months	0	0
Fair Value, Greater than 12 months	579	573
Unrealized Loss, Greater than 12 months	(11)	(16)
Fair Value, Total	579	573
Unrealized Loss, Total	(11)	(16)
Asset-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Fair Value, Less than 12 months	48,053	12,029
Unrealized Loss, Less than 12 months	(174)	(34)
Fair Value, Greater than 12 months	10,802	13,800
Unrealized Loss, Greater than 12 months	(143)	(282)
Fair Value, Total	58,855	25,829
Unrealized Loss, Total	(317)	(316)
Municipal bonds
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Fair Value, Less than 12 months	0	0
Unrealized Loss, Less than 12 months	0	0
Fair Value, Greater than 12 months	1,483	1,472
Unrealized Loss, Greater than 12 months	(27)	(38)
Fair Value, Total	1,483	1,472
Unrealized Loss, Total	$ (27)	$ (38)

Financial Instrument - Other Fi

Financial Instrument - Other Financial Instruments (Details) - USD ($) $ in Millions	May 05, 2024	Feb. 04, 2024
Investments, Debt and Equity Securities [Abstract]
Defined contribution plan, plan liabilities, fair value	$ 5.1	$ 3.2

Balance Sheet Components - Inve

Balance Sheet Components - Inventory (Details) - USD ($) $ in Thousands	May 05, 2024	Feb. 04, 2024
Balance Sheet Components Disclosure [Abstract]
Raw materials	$ 18,130	$ 19,317
Finished goods	22,544	23,346
Inventory	$ 40,674	$ 42,663

Balance Sheet Components - Prop

Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands	May 05, 2024	Feb. 04, 2024
Property Plant And Equipment [Line Items]
Total property and equipment	$ 876,226	$ 832,852
Less: accumulated depreciation and amortization	(508,073)	(480,248)
Property and equipment, net	368,153	352,604
Test equipment
Property Plant And Equipment [Line Items]
Total property and equipment	390,646	371,269
Computer equipment and software
Property Plant And Equipment [Line Items]
Total property and equipment	332,358	319,636
Furniture and fixtures
Property Plant And Equipment [Line Items]
Total property and equipment	12,804	12,547
Leasehold improvements
Property Plant And Equipment [Line Items]
Total property and equipment	97,629	92,926
Capitalized software development costs
Property Plant And Equipment [Line Items]
Total property and equipment	$ 42,789	$ 36,474

Balance Sheet Components - Narr

Balance Sheet Components - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	May 05, 2024	May 07, 2023
Finite-Lived Intangible Assets [Line Items]
Depreciation and amortization	$ 31.1	$ 26.6
Intangible assets amortization expense	$ 3.9	$ 4.2
Technology patents
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	1 year
Developed technology
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	1 year 9 months 18 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)	3 years 4 months 24 days

Balance Sheet Components - Inta

Balance Sheet Components - Intangible Assets, Net (Details) - USD ($) $ in Thousands	May 05, 2024	Feb. 04, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 112,418	$ 112,418
Accumulated Amortization	(83,262)	(79,406)
Net Carrying Amount	29,156	33,012
Technology patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	19,125	19,125
Accumulated Amortization	(16,428)	(16,107)
Net Carrying Amount	2,697	3,018
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	83,211	83,211
Accumulated Amortization	(59,894)	(56,589)
Net Carrying Amount	23,317	26,622
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	6,459	6,459
Accumulated Amortization	(3,317)	(3,087)
Net Carrying Amount	3,142	3,372
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	3,623	3,623
Accumulated Amortization	(3,623)	(3,623)
Net Carrying Amount	$ 0	$ 0

Balance Sheet Components - Expe

Balance Sheet Components - Expected Amortization Expenses for Intangible Assets (Details) - USD ($) $ in Thousands	May 05, 2024	Feb. 04, 2024
Balance Sheet Components Disclosure [Abstract]
Remainder of 2025	$ 11,569
2026	12,830
2027	3,107
2028	1,054
2029	434
Thereafter	162
Net Carrying Amount	$ 29,156	$ 33,012

Balance Sheet Components - Good

Balance Sheet Components - Goodwill (Details) - USD ($)	3 Months Ended
	May 05, 2024	May 07, 2023	Feb. 04, 2024
Balance Sheet Components Disclosure [Abstract]
Goodwill	$ 361,427,000		$ 361,427,000
Impairments to goodwill	$ 0	$ 0

Balance Sheet Components - Accr

Balance Sheet Components - Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	May 05, 2024	Feb. 04, 2024
Balance Sheet Components Disclosure [Abstract]
Taxes payable	$ 13,665	$ 13,097
Accrued marketing	13,771	18,438
Accrued cloud and outside services	4,523	5,973
Supply chain-related accruals	18,335	25,962
Accrued service logistics and professional services	10,370	9,636
Finance lease liabilities, current	4,384	4,204
Customer deposits from contracts with customers	22,981	23,534
Other accrued liabilities	39,856	34,911
Total accrued expenses and other liabilities	$ 127,885	$ 135,755

Deferred Revenue and Commissi_3

Deferred Revenue and Commissions - Deferred Commissions (Details) - USD ($)	3 Months Ended
	May 05, 2024	May 07, 2023
Deferred Commissions [Roll Forward]
Beginning balance	$ 304,332,000	$ 245,856,000
Additions	29,625,000	35,101,000
Recognition of deferred commissions	(37,331,000)	(32,769,000)
Ending balance	$ 296,626,000	248,188,000
Commission expected to be recognized over the next 12 months (percent)	29%
Commission recognition period	12 months
Impairment of capitalized commissions	$ 0	$ 0

Deferred Revenue and Commissi_4

Deferred Revenue and Commissions - Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	May 05, 2024	May 07, 2023
Contract Liability
Additions	$ 29,625	$ 35,101
Recognition of deferred revenue	(37,331)	(32,769)
Deferred revenue recognized	293,900	244,700
Product Revenue and Support Subscription Revenue
Contract Liability
Beginning balance	1,594,522	1,385,650
Additions	341,789	280,268
Recognition of deferred revenue	(334,835)	(270,248)
Ending balance	$ 1,601,476	$ 1,395,670

Deferred Revenue and Commissi_5

Deferred Revenue and Commissions - Remaining Performance Obligation (Details) $ in Millions	May 05, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Contracted but not recognized revenue	$ 2,300
Non-cancelable product orders	57
Lessor arrangement	$ 21.5

Deferred Revenue and Commissi_6

Deferred Revenue and Commissions - Remaining Performance Obligation Period (Details)	May 05, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-05-06
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized term (in months)	12 months
Revenue expected to be recognized (as a percent)	48%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-05-06
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized term (in months)

Debt - Narrative (Details)

Debt - Narrative (Details) - Revolving Credit Facility		1 Months Ended	3 Months Ended
	Aug. 24, 2020 USD ($)	Apr. 30, 2023 USD ($)	May 05, 2024 USD ($) financial_ratio	May 07, 2023 USD ($)
Debt Instrument [Line Items]
Term of credit facility	5 years
Senior secured revolving credit facility maximum capacity	$ 300,000,000
Proceeds from lines of credit		$ 100,000,000
Credit facility, amount borrowed			$ 100,000,000
Interest during the period (percent)			6.83%	6.38%
Interest expense			$ 2,000,000	$ 400,000
Number of financial ratios | financial_ratio			2
Consolidated leverage ratio, maximum			4.5
Interest coverage ratio, minimum			3
Minimum
Debt Instrument [Line Items]
Commitment fee (percent)			0.25%
Maximum
Debt Instrument [Line Items]
Commitment fee (percent)			0.40%
Base Rate | Minimum
Debt Instrument [Line Items]
Margin rate (percent)			0.50%
Base Rate | Maximum
Debt Instrument [Line Items]
Margin rate (percent)			1.25%
Secured Overnight Financing Rate | Minimum
Debt Instrument [Line Items]
Margin rate (percent)			1.50%
Secured Overnight Financing Rate | Maximum
Debt Instrument [Line Items]
Margin rate (percent)			2.25%
Secured Overnight Financing Rate | Interest Rate Floor
Debt Instrument [Line Items]
Effective interest rate (percent)			0%

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($)	May 05, 2024	Feb. 04, 2024
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit	$ 7,700,000	$ 7,700,000
Loss contingency	$ 0

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	3 Months Ended
	May 05, 2024 USD ($)	Feb. 04, 2024 USD ($) lease
Lessee, Lease, Description [Line Items]
Aggregate lease payments	$ 198,166
Finance lease, term	3 years
Lessor arrangement, number of leases | lease		3
Lessor arrangement, term of contract		7 years
Non-cancelable lease payments receivable, net	$ 21,300	$ 76,600
Sales-type lease, revenue	7,200
Sales-type lease, selling profit	$ 5,300
Data Centers
Lessee, Lease, Description [Line Items]
Lessee, operating lease, lease not yet commenced, term of contract	7 years
Aggregate lease payments	$ 54,900

Leases - Lease costs (Details)

Leases - Lease costs (Details) - USD ($) $ in Thousands	3 Months Ended
	May 05, 2024	May 07, 2023
Leases [Abstract]
Fixed operating lease cost	$ 10,989	$ 14,001
Variable lease cost	3,592	2,084
Short-term lease cost (12 months or less)	897	1,058
Amortization of finance lease right-of-use assets	1,100	1,100
Interest on finance lease liabilities	63	129
Total finance lease cost	1,163	1,229
Total lease cost	$ 16,641	$ 18,372

Leases - Lease term and discoun

Leases - Lease term and discount rate (Details) - USD ($) $ in Thousands	May 05, 2024	Feb. 04, 2024
Operating leases:
Weighted-average remaining lease term (in years)	4 years 10 months 24 days	5 years
Weighted-average discount rate	7.20%	7.10%
Finance leases:
Finance lease right-of-use assets, gross	$ 17,596	$ 17,596
Accumulated amortization	(8,912)	(7,812)
Finance lease right-of-use assets, net	8,684	9,784
Finance lease liabilities, current	4,384	4,204
Finance lease liabilities, non-current	63	180
Present value of total lease liabilities	$ 4,447	$ 4,384
Weighted-average remaining lease term (in years)	2 years 2 months 12 days	2 years 4 months 24 days
Weighted-average discount rate	5.60%	5.40%
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities, non-current, Accrued expenses and other liabilities	Other liabilities, non-current, Accrued expenses and other liabilities
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other liabilities	Accrued expenses and other liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities, non-current	Other liabilities, non-current

Leases - Supplemental cash flow

Leases - Supplemental cash flow information related to leases (Details) - USD ($) $ in Thousands	3 Months Ended
	May 05, 2024	May 07, 2023
Leases [Abstract]
Operating cash outflows for operating leases	$ 9,169	$ 8,425
Financing cash outflows for finance leases	802	1,540
Operating leases	$ 7,885	$ 7,580

Leases - Future lease payments

Leases - Future lease payments (Details) - USD ($) $ in Thousands	May 05, 2024	Feb. 04, 2024
Operating Leases
The remainder of 2025	$ 42,714
2026	44,217
2027	27,097
2028	28,487
2029	23,270
Thereafter	32,381
Total future lease payments	198,166
Less: imputed interest	(32,638)
Present value of total lease liabilities	165,528
Finance Leases
The remainder of 2025	4,347
2026	183
2027	0
2028	0
2029	0
Thereafter	0
Total future lease payments	4,530
Less: imputed interest	(83)
Present value of total lease liabilities	$ 4,447	$ 4,384

Leases - Future minimum lease p

Leases - Future minimum lease payments on lease receivables (Details) $ in Thousands	May 05, 2024 USD ($)
Leases [Abstract]
Non-lease components of remaining amount	$ 17,000
Sales-Type Leases
The remainder of 2025	1,381
2026	1,381
2027	1,381
2028	2,028
2029	2,028
Thereafter	4,056
Total future lease payments to be received	12,255
Operating Lease
The remainder of 2025	647
2026	646
2027	646
2028	0
2029	0
Thereafter	0
Total future lease payments to be received	$ 1,939

Restructuring and Impairment -

Restructuring and Impairment - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 29, 2024 USD ($) employee	May 05, 2024 USD ($)	Feb. 04, 2024 USD ($)	May 07, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Noncash portion of lease impairment and abandonment		$ 3,270		$ 0
Workplace Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Number of employees impacted | employee	250
Total restructuring cost	$ 27,900
Workplace Restructuring Plan | Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Restructuring charges		9,500
Workplace Restructuring Plan | Cost of Revenue
Restructuring Cost and Reserve [Line Items]
Restructuring charges		400
Employee Severance | Workplace Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges		9,900	$ 18,000
Ceased Use of Certain Leased Facilities
Restructuring Cost and Reserve [Line Items]
Noncash portion of lease impairment and abandonment		2,500
Ceased Use of Certain Leased Facilities | Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 3,900

Restructuring and Impairment _2

Restructuring and Impairment - Severance and Other Personnel Liabilities (Details) - Workforce Realignment Costs $ in Thousands	3 Months Ended
	May 05, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 18,009
Restructuring charges	9,855
Cash payments	(21,373)
Restructuring reserve, ending balance	$ 6,491

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended
	May 05, 2024 USD ($) stock_class $ / shares shares	Feb. 29, 2024 USD ($)	Feb. 04, 2024 $ / shares shares
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	20,000,000		20,000,000
Preferred stock, shares issued (in shares)	0		0
Preferred stock, shares outstanding (in shares)	0		0
Number of classes of stock | stock_class	2
Common stock, shares authorized (in shares)	2,250,000,000		2,250,000,000
Board of Directors
Class of Stock [Line Items]
Authorized amount remaining under stock repurchase program | $	$ 395.4
Class A common stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	2,000,000,000		2,000,000,000
Common stock, par value per share (in dollars per share) | $ / shares	$ 0.0001		$ 0.0001
Common stock, shares issued (in shares)	325,181,000		319,523,000
Common stock, shares outstanding (in shares)	325,181,000		319,523,000
Class B common stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	250,000,000		250,000,000
Common stock, par value per share (in dollars per share) | $ / shares	$ 0.0001		$ 0.0001
Common Stock | Board of Directors
Class of Stock [Line Items]
Additional value approved for repurchase | $		$ 250
Repurchase of common stock (in shares)	0

Equity Incentive Plans - Narrat

Equity Incentive Plans - Narrative (Details)	1 Months Ended	3 Months Ended
	Jun. 30, 2023 shares	May 05, 2024 USD ($) plan purchasePeriod $ / shares shares	May 07, 2023 USD ($)	Feb. 04, 2024 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity incentive plans | plan		2
Share-based payment arrangement, expense		$ 112,994,000	$ 77,830,000
Unrecognized compensation cost, stock options		100,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense		$ 200,000	700,000
Compensation cost (in years)		1 month 6 days
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense		$ 67,700,000	60,600,000
Compensation cost (in years)		3 years
Compensation not yet recognized		$ 814,200,000
Granted (in shares) | shares		6,063,832
Unvested awards (in shares) | shares		26,367,914		24,343,074
Aggregate intrinsic value		$ 1,377,460,000		$ 1,028,495,000
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		3 years
Modification charge		$ 40,700,000
Share-based payment arrangement, expense		$ 33,500,000	10,400,000
Compensation cost (in years)		2 years 7 months 6 days
Compensation not yet recognized		$ 70,600,000
Award vesting rights, target (as a percent)		100%
Award vesting rights, target shares earned (percent)		80%
Share-based payment arrangement, vesting period		$ 28,700,000
Granted (in shares) | shares		1,102,502
Unvested awards (in shares) | shares		2,414,859		2,270,597
Aggregate intrinsic value		$ 126,152,000		$ 95,933,000
Long-Term Performance Incentive RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense		3,600,000
Unrecognized stock-based compensation expense		$ 57,100,000
Compensation cost (in years)		3 years 10 months 24 days
Compensation not yet recognized		$ 73,900,000
Granted (in shares) | shares	4,200,000
Post-vesting holding period		1 year
Expected term		5 years
Unvested awards (in shares) | shares		4,000,000
Aggregate intrinsic value		$ 209,300,000
Class A common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing price of stock (in dollars per share) | $ / shares		$ 52.24
2015 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards expiration period (no later than)		10 years
Employee stock purchase plan offering period		24 months
Number of purchase periods | purchasePeriod		4
Purchase period, term		6 months
Modification charge			16,700,000
Share-based payment arrangement, expense		$ 8,000,000	$ 6,100,000
Unrecognized stock-based compensation expense		$ 33,700,000
Compensation cost (in years)		1 year
2015 Employee Stock Purchase Plan | Class A common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payroll deductions percentage		30%
Share cap for ESPP at purchase date (in shares) | shares		3,000
Dollar cap per purchase period		$ 7,500
Calendar year gap for ESPP contribution amount		$ 25,000
Purchase price as percentage of fair market value of common stock		85%
Minimum | PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, target (as a percent)		0%
Minimum | Long-Term Performance Incentive RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		3 years
Minimum | 2015 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		2 years
Maximum | PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, target (as a percent)		200%
Maximum | Long-Term Performance Incentive RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		5 years
Target market capitalization		$ 21,000,000,000
Maximum | 2015 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		4 years

Equity Incentive Plans - Equity

Equity Incentive Plans - Equity Incentive Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	May 05, 2024	Feb. 04, 2024
Number of Shares
Beginning balance (in shares)	4,493,934
Options exercised (in shares)	(1,034,342)
Options forfeited (in shares)	(593)
Ending balance (in shares)	3,458,999	4,493,934
Vested and exercisable (in shares)	3,451,936
Weighted- Average Exercise Price
Beginning balance (in dollars per share)	$ 13.63
Options exercised (in dollars per share)	12.78
Options forfeited (in dollars per share)	1.95
Ending balance (in dollars per share)	13.89	$ 13.63
Weighted Average Exercise Price, Vested and exercisable (in dollars per share)	$ 13.78
Weighted- Average Remaining Contractual Life (In Years)
Weighted Average Remaining Contractual Life (in years)	2 years 3 months 18 days	2 years 3 months 18 days
Weighted Average Remaining Contractual Life (in years), Vested and exercisable	2 years 3 months 18 days
Aggregate Intrinsic Value (in thousands)
Aggregate Intrinsic Value	$ 133,119	$ 129,065
Aggregate Intrinsic Value, Vested and exercisable	$ 132,763

Equity Incentive Plans - Restri

Equity Incentive Plans - Restricted Stock Units (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	May 05, 2024	Feb. 04, 2024
Unvested RSUs and PRSUs
Number of RSUs Outstanding
Unvested, Beginning balance (in shares)	24,343,074
Granted (in shares)	6,063,832
Vested (in shares)	(3,018,788)
Unearned (in shares)	(1,020,204)
Unvested, Ending balance (in shares)	26,367,914
Weighted- Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 26.77
Granted (in dollars per share)	49.75
Vested (in dollars per share)	22.88
Unearned (in dollars per share)	26.47
Ending balance (in dollars per share)	$ 32.51
Aggregate Intrinsic Value	$ 1,377,460	$ 1,028,495
PRSUs
Number of RSUs Outstanding
Unvested, Beginning balance (in shares)	2,270,597
Granted (in shares)	1,102,502
Vested (in shares)	(660,376)
Unearned (in shares)	(297,864)
Unvested, Ending balance (in shares)	2,414,859
Weighted- Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 25.64
Granted (in dollars per share)	49.46
Vested (in dollars per share)	24.52
Unearned (in dollars per share)	23.86
Ending balance (in dollars per share)	$ 37.04
Aggregate Intrinsic Value	$ 126,152	$ 95,933
Award vesting rights, target (as a percent)	100%
PRSUs | Minimum
Weighted- Average Grant Date Fair Value
Award vesting rights, target (as a percent)	0%
PRSUs | Maximum
Weighted- Average Grant Date Fair Value
Award vesting rights, target (as a percent)	200%

Equity Incentive Plans - Stock-

Equity Incentive Plans - Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	May 05, 2024	May 07, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 112,994	$ 77,830
Share-based compensation expense	1,600	800
Cost of revenue—product
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	2,782	2,655
Cost of revenue—subscription services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	8,871	5,647
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	50,294	38,232
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	23,519	17,181
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 27,528	$ 14,115

Net Income (Loss) per Share A_2

Net Income (Loss) per Share Attributable to Common Stockholders - Net Loss per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	May 05, 2024	May 07, 2023
Earnings Per Share [Abstract]
Net loss	$ (35,009)	$ (67,401)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	322,589	305,863
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	322,589	305,863
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (0.11)	$ (0.22)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (0.11)	$ (0.22)

Net Loss per Share Attributab_2

Net Loss per Share Attributable to Common Stockholders - Shares Excluded (Details) - shares shares in Thousands	3 Months Ended
	May 05, 2024	May 07, 2023
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share, amount (in shares)	30,174	54,805
Stock options to purchase common stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share, amount (in shares)	3,883	8,874
Unvested RSUs and PRSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share, amount (in shares)	25,516	27,794
Shares related to convertible senior notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share, amount (in shares)	0	17,315
Shares issuable pursuant to the ESPP
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share, amount (in shares)	775	822

Other Income (Expense), Net - O

Other Income (Expense), Net - Other Income (Details) - USD ($) $ in Thousands	3 Months Ended
	May 05, 2024	May 07, 2023
Other Income and Expenses [Abstract]
Interest income	$ 18,190	$ 12,989
Interest expense	(2,012)	(1,385)
Foreign currency transactions gains (losses)	(2,092)	48
Other income	5	97
Total other income (expense), net	$ 14,091	$ 11,749

Segment Information - Revenue b

Segment Information - Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended
	May 05, 2024	May 07, 2023
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue	$ 693,479	$ 589,307
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue	489,019	427,164
Rest of the world
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue	$ 204,460	$ 162,143

Segment Information - Long-Live

Segment Information - Long-Lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	May 05, 2024	Feb. 04, 2024
Revenues From External Customers And Long Lived Assets [Line Items]
Total long-lived assets	$ 368,153	$ 352,604
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Total long-lived assets	355,490	340,121
Rest of the world
Revenues From External Customers And Long Lived Assets [Line Items]
Total long-lived assets	$ 12,663	$ 12,483