Pure Storage (PSTG) 10-Q 10 Sep 24 2025 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Aug. 04, 2024	Sep. 04, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 04, 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		327,691,894
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001474432
Current Fiscal Year End Date	--02-02

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 04, 2024	Feb. 04, 2024
Current assets:
Cash and cash equivalents	$ 965,028	$ 702,536
Marketable securities	855,453	828,557
Accounts receivable, net of allowance of $1,060 and $959	416,501	662,179
Inventory	43,548	42,663
Deferred commissions, current	87,424	88,712
Prepaid expenses and other current assets	185,072	173,407
Total current assets	2,553,026	2,498,054
Property and equipment, net	396,676	352,604
Operating lease right-of-use assets	138,781	129,942
Deferred commissions, non-current	210,755	215,620
Intangible assets, net	27,004	33,012
Goodwill	361,427	361,427
Restricted cash	14,779	9,595
Other assets, non-current	78,825	55,506
Total assets	3,781,273	3,655,760
Current liabilities:
Accounts payable	68,104	82,757
Accrued compensation and benefits	176,553	250,257
Accrued expenses and other liabilities	119,430	135,755
Operating lease liabilities, current	49,575	44,668
Deferred revenue, current	869,332	852,247
Total current liabilities	1,282,994	1,365,684
Long-term debt	100,000	100,000
Operating lease liabilities, non-current	128,674	123,201
Deferred revenue, non-current	754,328	742,275
Other liabilities, non-current	62,116	54,506
Total liabilities	2,328,112	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 327,465 Class A shares issued and outstanding	33	32
Additional paid-in capital	2,925,507	2,749,595
Accumulated other comprehensive income (loss)	2,707	(3,782)
Accumulated deficit	(1,475,086)	(1,475,751)
Total stockholders’ equity	1,453,161	1,270,094
Total liabilities and stockholders’ equity	$ 3,781,273	$ 3,655,760

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Aug. 04, 2024	Feb. 04, 2024
Accounts receivable, allowance	$ 959	$ 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)	327,465,000	319,523,000
Common stock, shares outstanding (in shares)	327,465,000	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		6 Months Ended
	Aug. 04, 2024	Aug. 06, 2023	Aug. 04, 2024	Aug. 06, 2023
Total revenue	$ 763,771	$ 688,671	$ 1,457,250	$ 1,277,978
Total cost of revenue	223,691	202,078	421,464	378,038
Gross profit	540,080	486,593	1,035,786	899,940
Operating expenses:
Research and development	195,490	182,492	389,310	367,823
Sales and marketing	250,267	232,732	501,239	465,178
General and administrative	69,445	60,831	146,232	128,215
Restructuring and impairment	0	16,766	15,901	16,766
Total operating expenses	515,202	492,821	1,052,682	977,982
Income (loss) from operations	24,878	(6,228)	(16,896)	(78,042)
Other income (expense), net	19,437	6,686	33,528	18,435
Income (loss) before provision for income taxes	44,315	458	16,632	(59,607)
Provision for income taxes	8,641	7,573	15,967	14,909
Net income (loss)	$ 35,674	$ (7,115)	$ 665	$ (74,516)
Net income (loss) per share attributable to common stockholders, basic (in dollars per share)	$ 0.11	$ (0.02)	$ 0	$ (0.24)
Net income (loss) per share attributable to common stockholders, diluted (in dollars per share)	$ 0.10	$ (0.02)	$ 0	$ (0.24)
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic (in shares)	326,326	309,510	324,458	307,687
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted (in shares)	343,443	309,510	341,509	307,687
Product
Total revenue	$ 402,595	$ 399,738	$ 749,979	$ 708,701
Total cost of revenue	129,723	120,605	230,476	216,818
Subscription services
Total revenue	361,176	288,933	707,271	569,277
Total cost of revenue	$ 93,968	$ 81,473	$ 190,988	$ 161,220

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 04, 2024	Aug. 06, 2023	Aug. 04, 2024	Aug. 06, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 35,674	$ (7,115)	$ 665	$ (74,516)
Other comprehensive income (loss):
Unrealized net gains (losses) on available-for-sale securities	8,313	(1,685)	6,673	3,181
Less: reclassification adjustment for net gains on available-for-sale securities included in net income (loss)	(22)	(16)	(184)	(284)
Change in unrealized net gains (losses) on available-for-sale securities	8,291	(1,701)	6,489	2,897
Comprehensive income (loss)	$ 43,965	$ (8,816)	$ 7,154	$ (71,619)

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)		3,400
Issuance of common stock upon exercise of stock options	29,882		29,882
Stock-based compensation expense	169,677		169,677
Vesting of restricted stock units (in shares)		7,175
Vesting of restricted stock units	0	$ 1	(1)
Tax withholding on vesting of restricted stock units (in shares)		(415)
Tax withholding on vesting of restricted stock units	(11,827)		(11,827)
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)		(3,467)
Repurchases of common stock	(91,881)		(91,881)
Issuance of common stock upon conversion of convertible senior notes (in shares)		1
Issuance of common stock upon conversion of convertible senior notes	(356)		(356)
Other comprehensive income (loss)	2,897			2,897
Net income (loss)	(74,516)				(74,516)
Ending balance (in shares) at Aug. 06, 2023		311,839
Ending balance at Aug. 06, 2023	986,328	$ 31	2,610,482	(12,607)	(1,611,578)
Beginning balance (in shares) at May. 07, 2023		306,453
Beginning balance at May. 07, 2023	905,807	$ 31	2,521,145	(10,906)	(1,604,463)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		2,610
Issuance of common stock upon exercise of stock options	25,263		25,263
Stock-based compensation expense	91,012		91,012
Vesting of restricted stock units (in shares)		3,505
Vesting of restricted stock units	0
Tax withholding on vesting of restricted stock units (in shares)		(134)
Tax withholding on vesting of restricted stock units	(5,068)		(5,068)
Repurchase of common stock (in shares)		(595)
Repurchases of common stock	(21,970)		(21,970)
Issuance of common stock upon conversion of convertible senior notes	100		100
Other comprehensive income (loss)	(1,701)			(1,701)
Net income (loss)	(7,115)				(7,115)
Ending balance (in shares) at Aug. 06, 2023		311,839
Ending balance at Aug. 06, 2023	986,328	$ 31	2,610,482	(12,607)	(1,611,578)
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)		1,407
Issuance of common stock upon exercise of stock options	17,768		17,768
Stock-based compensation expense	221,478		221,478
Vesting of restricted stock units (in shares)		6,705
Vesting of restricted stock units	$ 0	$ 1	(1)
Tax withholding on vesting of restricted stock units (in shares)	(1,400)	(1,365)
Tax withholding on vesting of restricted stock units	$ (88,661)		(88,661)
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)	6,489			6,489
Net income (loss)	665				665
Ending balance (in shares) at Aug. 04, 2024		327,465
Ending balance at Aug. 04, 2024	1,453,161	$ 33	2,925,507	2,707	(1,475,086)
Beginning balance (in shares) at May. 05, 2024		325,181
Beginning balance at May. 05, 2024	1,373,973	$ 33	2,890,284	(5,584)	(1,510,760)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in shares)		373
Issuance of common stock upon exercise of stock options	4,545		4,545
Stock-based compensation expense	106,861		106,861
Vesting of restricted stock units (in shares)		3,026
Vesting of restricted stock units	$ 0
Tax withholding on vesting of restricted stock units (in shares)	(1,100)	(1,115)
Tax withholding on vesting of restricted stock units	$ (76,183)		(76,183)
Other comprehensive income (loss)	8,291			8,291
Net income (loss)	35,674				35,674
Ending balance (in shares) at Aug. 04, 2024		327,465
Ending balance at Aug. 04, 2024	$ 1,453,161	$ 33	$ 2,925,507	$ 2,707	$ (1,475,086)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Aug. 04, 2024	Aug. 06, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 665	$ (74,516)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	69,827	59,913
Stock-based compensation expense	217,884	167,277
Impairment of long-lived assets	3,270	16,766
Other	2,726	(3,029)
Changes in operating assets and liabilities:
Accounts receivable, net	245,721	87,231
Inventory	(6,661)	4,460
Deferred commissions	6,153	(9,560)
Prepaid expenses and other assets	(27,006)	(358)
Operating lease right-of-use assets	16,528	19,635
Accounts payable	(13,158)	26,311
Accrued compensation and other liabilities	(78,732)	(57,524)
Operating lease liabilities	(18,257)	(13,133)
Deferred revenue	29,137	51,392
Net cash provided by operating activities	448,097	274,865
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(108,853)	(106,529)
Purchases of marketable securities and other	(270,451)	(246,617)
Sales of marketable securities	48,424	48,748
Maturities of marketable securities	197,984	386,703
Net cash provided by (used in) investing activities	(132,896)	82,305
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from exercise of stock options	17,768	29,848
Proceeds from issuance of common stock under employee stock purchase plan	25,328	21,219
Proceeds from borrowing	0	100,000
Principal payments on borrowings and finance lease obligations	(3,935)	(577,067)
Tax withholding on vesting of equity awards	(86,686)	(11,827)
Repurchases of common stock	0	(91,881)
Net cash used in financing activities	(47,525)	(529,708)
Net increase (decrease) in cash, cash equivalents and restricted cash	267,676	(172,538)
Cash, cash equivalents and restricted cash, beginning of period	712,131	591,398
Cash, cash equivalents and restricted cash, end of period	979,807	418,860
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD
Cash and cash equivalents	965,028	408,900
Restricted cash	14,779	9,960
Cash, cash equivalents and restricted cash, end of period	979,807	418,860
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	3,520	2,139
Cash paid for income taxes	23,154	13,988
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION
Property and equipment purchased but not yet paid	$ 14,214	$ 18,406

Business Overview

Business Overview	6 Months Ended
	Aug. 04, 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	6 Months Ended
	Aug. 04, 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 second quarter of fiscal 2024 and 2025 ended on August 6, 2023 and August 4, 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. 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	6 Months Ended
	Aug. 04, 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 second 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 Second Quarter of Fiscal 2025 Amortized Gross Unrealized Gross Unrealized Fair Cash Equivalents Marketable Restricted Cash Level 1 Money market accounts $ — $ — $ — $ 36,676 $ 21,897 $ — $ 14,779 Level 2 U.S. government treasury notes 334,054 1,658 (362) 335,350 — 335,350 — U.S. government agencies 4,399 1 (1) 4,399 — 4,399 — Corporate debt securities 435,932 3,218 (527) 438,623 — 438,623 — Foreign government bonds 1,290 7 (3) 1,294 — 1,294 — Asset-backed securities 73,751 582 (47) 74,286 — 74,286 — Municipal bonds 1,510 — (9) 1,501 — 1,501 — Total $ 850,936 $ 5,466 $ (949) $ 892,129 $ 21,897 $ 855,453 $ 14,779 The amortized cost and estimated fair value of our marketable securities are shown below by contractual maturity (in thousands): At the End of the Second Quarter of Fiscal 2025 Amortized Cost Fair Value Due within one year $ 350,834 $ 350,374 Due in one to five years 499,102 504,066 Due in five to ten years 1,000 1,013 Total $ 850,936 $ 855,453 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 second quarter and the first two quarters 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 second 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 Second Quarter of Fiscal 2025 Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. government treasury notes $ 10,626 $ (1) $ 117,120 $ (361) $ 127,746 $ (362) U.S. government agencies 1,999 (1) — — 1,999 (1) Corporate debt securities 21,492 (22) 86,536 (505) 108,028 (527) Foreign government bonds — — 587 (3) 587 (3) Asset-backed securities 127 — 12,055 (47) 12,182 (47) Municipal bonds — — 1,501 (9) 1,501 (9) Total $ 34,244 $ (24) $ 217,799 $ (925) $ 252,043 $ (949) 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 $5.8 million at the end of fiscal 2024 and the second quarter of fiscal 2025.

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Aug. 04, 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 Second Quarter of Fiscal 2025 Raw materials $ 19,317 $ 15,267 Finished goods 23,346 28,281 Inventory $ 42,663 $ 43,548 Property and Equipment, Net Property and equipment, net consists of the following (in thousands): At the End of Fiscal 2024 Second Quarter of Fiscal 2025 Test equipment $ 371,269 $ 420,303 Computer equipment and software 319,636 350,805 Furniture and fixtures 12,547 13,322 Leasehold improvements 92,926 98,639 Capitalized software development costs 36,474 50,290 Total property and equipment 832,852 933,359 Less: accumulated depreciation and amortization (480,248) (536,683) Property and equipment, net $ 352,604 $ 396,676 Depreciation and amortization expense related to property and equipment was $27.2 million and $33.1 million for the second quarter of fiscal 2024 and 2025, and $53.8 million and $64.2 million for the first two quarters of fiscal 2024 and 2025. Intangible Assets, Net Intangible assets, net consist of the following (in thousands): At the End of Fiscal 2024 Second 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 $ 20,875 $ (16,794) $ 4,081 Developed technology 83,211 (56,589) 26,622 83,211 (63,200) 20,011 Customer relationships 6,459 (3,087) 3,372 6,459 (3,547) 2,912 Intangible assets, net $ 108,795 $ (75,783) $ 33,012 $ 110,545 $ (83,541) $ 27,004 Intangible assets amortization expense was $4.1 million and $3.9 million for the second quarter of fiscal 2024 and 2025, and $8.3 million and $7.8 million for the first two quarters of fiscal 2024 and 2025. At the end of the second quarter of fiscal 2025, the weighted-average remaining amortization period was 1.1 years for technology patents, 1.5 years for developed technology, and 3.2 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 second quarter of fiscal 2025, future expected amortization expense for intangible assets is as follows (in thousands): Fiscal Years Ending Estimated Future Remainder of 2025 $ 7,931 2026 13,266 2027 3,543 2028 1,498 2029 604 Thereafter 162 Total $ 27,004 Goodwill As of the end of fiscal 2024 and the second quarter of fiscal 2025, goodwill was $361.4 million. There were no impairments to goodwill for the second and first two quarters 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 Second Quarter of Fiscal 2025 Taxes payable $ 13,097 $ 8,971 Accrued marketing 18,438 18,356 Accrued cloud and outside services 5,973 5,752 Supply chain-related accruals (1) 25,962 17,657 Accrued service logistics and professional services 9,636 8,666 Finance lease liabilities, current 4,204 2,035 Customer deposits from contracts with customers 23,534 22,550 Other accrued liabilities 34,911 35,443 Total accrued expenses and other liabilities $ 135,755 $ 119,430 _________________________________ (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	6 Months Ended
	Aug. 04, 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): Second Quarter of Fiscal First Two Quarters of Fiscal 2024 2025 2024 2025 Beginning balance $ 248,188 $ 296,626 $ 245,856 $ 304,332 Additions 45,028 39,415 80,129 69,040 Recognition of deferred commissions (37,799) (37,862) (70,568) (75,193) Ending balance $ 255,417 $ 298,179 $ 255,417 $ 298,179 Of the $298.2 million total deferred commissions balance at the end of the second 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 second quarter and first two quarters 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): Second Quarter of Fiscal First Two Quarters of Fiscal 2024 2025 2024 2025 Beginning balance $ 1,395,670 $ 1,601,476 $ 1,385,650 $ 1,594,522 Additions 326,173 367,722 606,441 709,511 Recognition of deferred revenue (284,800) (345,539) (555,048) (680,374) Ending balance $ 1,437,043 $ 1,623,660 $ 1,437,043 $ 1,623,660 Revenue recognized during the second quarter of fiscal 2024 and 2025 from deferred revenue at the beginning of each respective period was $255.9 million and $301.8 million. Revenue recognized during the first two quarters of fiscal 2024 and 2025 from deferred revenue at the beginning of each respective period was $430.3 million and $519.8 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 second quarter of fiscal 2025. Total RPO includes $49.0 million in remaining non-cancelable product orders, of which $13.5 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 second quarter of fiscal 2025, we expect to recognize approximately 48% over the next 12 months, and the remainder thereafter.

Debt

Debt	6 Months Ended
	Aug. 04, 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. Effective April 1, 2023, the Credit Facility was amended to transition LIBOR to the Secured Overnight Financing Rate (SOFR). 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 second quarter of fiscal 2025. The outstanding loan bore weighted-average interest at an annual rate of 6.53% and 6.83% during the second quarter of fiscal 2024 and 2025 and 6.49% and 6.83% during the first two quarters of fiscal 2024 and 2025 based on a one-month term SOFR period. Interest expense was not material for the second quarter and first two quarters of fiscal 2024 and 2025.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Aug. 04, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Letters of Credit At the end of fiscal 2024 and the second 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 second 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	6 Months Ended
	Aug. 04, 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 a data center lease with a seven-year duration, and aggregate lease payments of $32.7 million, commencing in the third quarter of fiscal 2025 and therefore is 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): Second Quarter of Fiscal First Two Quarters of Fiscal 2024 2025 2024 2025 Fixed operating lease cost $ 12,652 $ 11,548 $ 26,653 $ 22,537 Variable lease cost (1) 3,590 3,202 5,674 6,794 Short-term lease cost (12 months or less) 1,075 957 2,133 1,854 Finance lease cost: Amortization of finance lease right-of-use assets 1,100 1,100 2,200 2,200 Interest on finance lease liabilities 128 62 257 125 Total finance lease cost $ 1,228 $ 1,162 $ 2,457 $ 2,325 Total lease cost $ 18,545 $ 16,869 $ 36,917 $ 33,510 ____________________________________ (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 Second Quarter of Fiscal 2025 Operating leases: Weighted-average remaining lease term (in years) 5.0 4.9 Weighted-average discount rate 7.1 % 7.3 % Finance leases: Finance lease right-of-use assets, gross $ 17,596 $ 17,596 Accumulated amortization (7,812) (10,012) Finance lease right-of-use assets, net (1) $ 9,784 $ 7,584 Finance lease liabilities, current (2) 4,204 2,035 Finance lease liabilities, non-current (3) 180 64 Total finance lease liabilities $ 4,384 $ 2,099 Weighted-average remaining lease term (in years) 2.4 1.9 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 Two Quarters of Fiscal 2024 2025 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows for operating leases $ 18,643 $ 22,916 Financing cash outflows for finance leases $ 1,540 $ 3,337 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 10,840 $ 28,636 Future lease payments under our non-cancelable leases at the end of the second quarter of fiscal 2025 were as follows (in thousands): Fiscal Years Ending Operating Leases Finance Leases The remainder of 2025 $ 33,147 $ 1,938 2026 48,630 183 2027 31,226 — 2028 32,896 — 2029 26,729 — Thereafter 40,645 — Total future lease payments 213,273 2,121 Less: imputed interest (35,024) (22) Present value of total lease liabilities $ 178,249 $ 2,099 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 primarily as subscription services revenue on our condensed consolidated statements of operations. The total net consideration for two of the seven-year leases that commenced in the first and second quarters of fiscal 2025 ("First Two Leases") was $50.6 million. We recognized $8.0 million and $15.2 million in product revenue related to the sales-type lease components during the second quarter and first two quarters of fiscal 2025. The associated profit was $6.1 million and $11.4 million, based on the product revenue recognized less certain costs, during the second quarter and first two quarters of fiscal 2025. Subscription services revenue related to the operating lease and non-lease components recognized during the second quarter and first two quarters of fiscal 2025 were $1.9 million and $2.1 million . Future minimum gross lease payments for the two seven-year leases allocated to the sales-type leases and operating lease components were as follows (in thousands). The remaining lease payments of $38.1 million allocated to the non-lease components, are excluded from the table below. Fiscal Years Ending Sales-Type Leases Operating Lease The remainder of 2025 $ 1,835 $ 1,483 2026 2,908 2,192 2027 2,908 2,192 2028 4,713 386 2029 5,100 — Thereafter 10,966 — Total future lease payments to be received $ 28,430 $ 6,253

Restructuring and Impairment

Restructuring and Impairment	6 Months Ended
	Aug. 04, 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 the remaining $9.9 million 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 for the first two quarters of fiscal 2025. The execution of the Plan was substantially completed by the end of the second quarter of fiscal 2025. We paid $25.3 million of our liability related to the Plan during the first two quarters of fiscal 2025. The remaining liability was not material as of the end of the second quarter of fiscal 2025. Facilities Abandonment and Impairment During the second quarter of fiscal 2024, we ceased use of our former corporate headquarters and recorded an impairment charge to operating lease right-of-use assets of $15.9 million and an abandonment charge of $0.9 million related to these leases. The impairment charge represents the amount that the carrying value of the assets exceeded their estimated fair values, which were determined by utilizing a discounted cash flow approach that incorporated a sublease assumption. During the first two quarters of fiscal 2025, we recognized incremental abandonment and impairment charges of $3.9 million and $2.5 million, respectively, related to these leases. The incremental impairment charge was due to a revision to the underlying sublease assumptions.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Aug. 04, 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 second 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 second 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 second quarter of fiscal 2025, 327.5 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 second quarter and first two quarters of fiscal 2025. At the end of the second quarter of fiscal 2025, $395.4 million remained available for future share repurchases under our current repurchase authorization.

Equity Incentive Plans

Equity Incentive Plans	6 Months Ended
	Aug. 04, 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 In June 2024, we extended the net-share settlement of equity awards to the majority of our employees by withholding shares upon vesting to satisfy tax withholding obligations whereas previously, shares were sold to cover such tax withholding obligations. Approximately 1.1 million shares and 1.4 million shares were withheld to cover $76.2 million and $88.7 million in tax withholding obligations during the second quarter and first two quarters of fiscal 2025. 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 $6.5 million and $8.3 million during the second quarter of fiscal 2024 and 2025, and $12.6 million and $16.3 million during the first two quarters of fiscal 2024 and 2025. At the end of the second quarter of fiscal 2025, total unrecognized stock-based compensation cost related to our 2015 ESPP was $24.1 million, which is expected to be recognized over a weighted-average period of 0.8 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 (1,407,323) 12.63 Options forfeited (593) 1.95 Balance at the end of the second quarter of fiscal 2025 3,086,018 $ 13.94 2.2 $ 124,506 Vested and exercisable at the end of the second quarter of fiscal 2025 3,086,018 $ 13.94 2.2 $ 124,506 The aggregate intrinsic value of options vested and exercisable at the end of the second quarter of fiscal 2025 is calculated based on the difference between the exercise price and the closing price of $54.29 of our common stock on the last day of the second quarter of fiscal 2025. Stock-based compensation expense recognized related to stock options was not material for all periods presented during fiscal 2024 and 2025. At the end of the second quarter of fiscal 2025, there was no unrecognized stock-based compensation cost remaining related to the outstanding options. 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 6,907,399 51.73 Vested (5,816,362) 25.87 Forfeited (1,470,857) 28.09 Unvested balance at the end of the second quarter of fiscal 2025 23,963,254 $ 34.10 $ 1,300,965 Stock-based compensation expense related to RSUs was $69.4 million and $79.7 million during the second quarter of fiscal 2024 and 2025, and $130.1 million and $147.4 million during the first two quarters of fiscal 2024 and 2025. At the end of the second quarter of fiscal 2025, total unrecognized stock-based compensation cost related to unvested RSUs was $772.0 million, which is expected to be recognized over a weighted-average period of 2.8 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) (888,487) 25.36 Unearned (3) (297,864) 23.86 Unvested balance at the end of the second quarter of fiscal 2025 2,186,748 $ 38.00 $ 118,719 ____________________________________ (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 $10.6 million and $13.1 million during the second quarter of fiscal 2024 and 2025, and $20.9 million and $46.6 million during the first two quarters of fiscal 2024 and 2025. At the end of the second quarter of fiscal 2025, total unrecognized stock-based compensation cost related to unvested PRSUs was $47.7 million, which is expected to be recognized over a weighted-average period of 2.3 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 $3.2 million and $31.9 million were recognized during the second quarter and first two quarters 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 $217.5 million at the end of the second quarter of fiscal 2025. Stock-based compensation expense related to LTP Awards was $2.4 million and $3.7 million during the second quarter of fiscal 2024 and 2025, and $2.4 million and $7.3 million during the first two quarters of fiscal 2024 and 2025. At the end of the second quarter of fiscal 2025, total unrecognized stock-based compensation cost related to unvested LTP Awards was $53.4 million, which is expected to be recognized over a weighted-average period of 3.6 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): Second Quarter of Fiscal First Two Quarters of Fiscal 2024 2025 2024 2025 Cost of revenue—product $ 2,958 $ 3,445 $ 5,613 $ 6,227 Cost of revenue—subscription services 6,851 7,961 12,498 16,832 Research and development 44,085 50,869 82,317 101,163 Sales and marketing 19,493 24,418 36,674 47,937 General and administrative 16,060 18,197 30,175 45,725 Total stock-based compensation expense, net of amounts capitalized (1) $ 89,447 $ 104,890 $ 167,277 $ 217,884 _________________________________ (1) Stock-based compensation expense capitalized was $1.6 million and $2.0 million during the second quarter of fiscal 2024 and 2025, and $2.4 million and $3.6 million for the first two quarters of fiscal 2024 and 2025 . The tax benefit related to stock-based compensation expense for all periods presented was not material.

Net Income (Loss) per Share Att

Net Income (Loss) per Share Attributable to Common Stockholders	6 Months Ended
	Aug. 04, 2024
Earnings Per Share [Abstract]
Net Income (Loss) per Share Attributable to Common Stockholders	Net Income (Loss) per Share Attributable to Common Stockholders Basic and diluted net income (loss) per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. Basic net income (loss) per share attributable to common stockholders is computed by dividing the net income (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 income (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 income (loss) per share attributable to common stockholders (in thousands, except per share data): Second Quarter of Fiscal First Two Quarters of Fiscal 2024 2025 2024 2025 Numerator: Net income (loss) $ (7,115) $ 35,674 $ (74,516) $ 665 Denominator: Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic 309,510 326,326 307,687 324,458 Add: Dilutive effect of common stock equivalents — 17,117 — 17,051 Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted 309,510 343,443 307,687 341,509 Net income (loss) per share attributable to common stockholders, basic $ (0.02) $ 0.11 $ (0.24) $ 0.00 Net income (loss) per share attributable to common stockholders, diluted $ (0.02) $ 0.10 $ (0.24) $ 0.00 The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net income (loss) per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive (in thousands): Second Quarter of Fiscal First Two Quarters of Fiscal 2024 2025 2024 2025 Stock options to purchase common stock 6,982 — 7,928 — Unvested RSUs and PRSUs 34,350 429 31,072 215 Unvested LTP Awards 2,683 — 1,342 — Shares related to convertible senior notes — — 8,657 — Shares issuable pursuant to the ESPP 1,190 — 1,190 — Total 45,205 429 50,189 215

Other Income (Expense), Net

Other Income (Expense), Net	6 Months Ended
	Aug. 04, 2024
Other Income and Expenses [Abstract]
Other Income (Expense), Net	Other Income (Expense), Net Other income (expense), net consists of the following (in thousands): Second Quarter of Fiscal First Two Quarters of Fiscal 2024 2025 2024 2025 Interest income (1) $ 10,496 $ 20,542 $ 23,485 $ 38,732 Interest expense (2) (1,962) (2,029) (3,347) (4,041) Foreign currency transactions gains (losses) (1,734) 980 (1,686) (1,112) Other expense (114) (56) (17) (51) Total other income (expense), net $ 6,686 $ 19,437 $ 18,435 $ 33,528 ____________________________________ (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	6 Months Ended
	Aug. 04, 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 second 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	6 Months Ended
	Aug. 04, 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): Second Quarter of Fiscal First Two Quarters of Fiscal 2024 2025 2024 2025 United States $ 494,650 $ 537,747 $ 921,814 $ 1,026,766 Rest of the world 194,021 226,024 356,164 430,484 Total revenue $ 688,671 $ 763,771 $ 1,277,978 $ 1,457,250 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 Second Quarter of Fiscal 2025 United States $ 340,121 $ 384,401 Rest of the world 12,483 12,275 Total long-lived assets $ 352,604 $ 396,676

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 04, 2024	Aug. 06, 2023	Aug. 04, 2024	Aug. 06, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 35,674	$ (7,115)	$ 665	$ (74,516)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Aug. 04, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Aug. 04, 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 second quarter of fiscal 2024 and 2025 ended on August 6, 2023 and August 4, 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.
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)	6 Months Ended
	Aug. 04, 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 second 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 Second Quarter of Fiscal 2025 Amortized Gross Unrealized Gross Unrealized Fair Cash Equivalents Marketable Restricted Cash Level 1 Money market accounts $ — $ — $ — $ 36,676 $ 21,897 $ — $ 14,779 Level 2 U.S. government treasury notes 334,054 1,658 (362) 335,350 — 335,350 — U.S. government agencies 4,399 1 (1) 4,399 — 4,399 — Corporate debt securities 435,932 3,218 (527) 438,623 — 438,623 — Foreign government bonds 1,290 7 (3) 1,294 — 1,294 — Asset-backed securities 73,751 582 (47) 74,286 — 74,286 — Municipal bonds 1,510 — (9) 1,501 — 1,501 — Total $ 850,936 $ 5,466 $ (949) $ 892,129 $ 21,897 $ 855,453 $ 14,779
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 Second Quarter of Fiscal 2025 Amortized Cost Fair Value Due within one year $ 350,834 $ 350,374 Due in one to five years 499,102 504,066 Due in five to ten years 1,000 1,013 Total $ 850,936 $ 855,453
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 second 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 Second Quarter of Fiscal 2025 Less than 12 months Greater than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. government treasury notes $ 10,626 $ (1) $ 117,120 $ (361) $ 127,746 $ (362) U.S. government agencies 1,999 (1) — — 1,999 (1) Corporate debt securities 21,492 (22) 86,536 (505) 108,028 (527) Foreign government bonds — — 587 (3) 587 (3) Asset-backed securities 127 — 12,055 (47) 12,182 (47) Municipal bonds — — 1,501 (9) 1,501 (9) Total $ 34,244 $ (24) $ 217,799 $ (925) $ 252,043 $ (949)

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Aug. 04, 2024
Balance Sheet Components Disclosure [Abstract]
Schedule of Inventory	Inventory consists of the following (in thousands): At the End of Fiscal 2024 Second Quarter of Fiscal 2025 Raw materials $ 19,317 $ 15,267 Finished goods 23,346 28,281 Inventory $ 42,663 $ 43,548
Schedule of Property and Equipment, Net	Property and equipment, net consists of the following (in thousands): At the End of Fiscal 2024 Second Quarter of Fiscal 2025 Test equipment $ 371,269 $ 420,303 Computer equipment and software 319,636 350,805 Furniture and fixtures 12,547 13,322 Leasehold improvements 92,926 98,639 Capitalized software development costs 36,474 50,290 Total property and equipment 832,852 933,359 Less: accumulated depreciation and amortization (480,248) (536,683) Property and equipment, net $ 352,604 $ 396,676
Schedule of Intangible Assets, Net	Intangible assets, net consist of the following (in thousands): At the End of Fiscal 2024 Second 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 $ 20,875 $ (16,794) $ 4,081 Developed technology 83,211 (56,589) 26,622 83,211 (63,200) 20,011 Customer relationships 6,459 (3,087) 3,372 6,459 (3,547) 2,912 Intangible assets, net $ 108,795 $ (75,783) $ 33,012 $ 110,545 $ (83,541) $ 27,004
Schedule of Expected Amortization Expenses for Intangible Assets	At the end of the second quarter of fiscal 2025, future expected amortization expense for intangible assets is as follows (in thousands): Fiscal Years Ending Estimated Future Remainder of 2025 $ 7,931 2026 13,266 2027 3,543 2028 1,498 2029 604 Thereafter 162 Total $ 27,004
Schedule of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following (in thousands): At the End of Fiscal 2024 Second Quarter of Fiscal 2025 Taxes payable $ 13,097 $ 8,971 Accrued marketing 18,438 18,356 Accrued cloud and outside services 5,973 5,752 Supply chain-related accruals (1) 25,962 17,657 Accrued service logistics and professional services 9,636 8,666 Finance lease liabilities, current 4,204 2,035 Customer deposits from contracts with customers 23,534 22,550 Other accrued liabilities 34,911 35,443 Total accrued expenses and other liabilities $ 135,755 $ 119,430 _________________________________ (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)	6 Months Ended
	Aug. 04, 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): Second Quarter of Fiscal First Two Quarters of Fiscal 2024 2025 2024 2025 Beginning balance $ 248,188 $ 296,626 $ 245,856 $ 304,332 Additions 45,028 39,415 80,129 69,040 Recognition of deferred commissions (37,799) (37,862) (70,568) (75,193) Ending balance $ 255,417 $ 298,179 $ 255,417 $ 298,179
Schedule of Deferred Revenue	Changes in total deferred revenue during the periods presented are as follows (in thousands): Second Quarter of Fiscal First Two Quarters of Fiscal 2024 2025 2024 2025 Beginning balance $ 1,395,670 $ 1,601,476 $ 1,385,650 $ 1,594,522 Additions 326,173 367,722 606,441 709,511 Recognition of deferred revenue (284,800) (345,539) (555,048) (680,374) Ending balance $ 1,437,043 $ 1,623,660 $ 1,437,043 $ 1,623,660

Leases (Tables)

Leases (Tables)	6 Months Ended
	Aug. 04, 2024
Leases [Abstract]
Schedule of Components of Lease Cost	The components of lease costs during the periods presented were as follows (in thousands): Second Quarter of Fiscal First Two Quarters of Fiscal 2024 2025 2024 2025 Fixed operating lease cost $ 12,652 $ 11,548 $ 26,653 $ 22,537 Variable lease cost (1) 3,590 3,202 5,674 6,794 Short-term lease cost (12 months or less) 1,075 957 2,133 1,854 Finance lease cost: Amortization of finance lease right-of-use assets 1,100 1,100 2,200 2,200 Interest on finance lease liabilities 128 62 257 125 Total finance lease cost $ 1,228 $ 1,162 $ 2,457 $ 2,325 Total lease cost $ 18,545 $ 16,869 $ 36,917 $ 33,510 ____________________________________ (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 Second Quarter of Fiscal 2025 Operating leases: Weighted-average remaining lease term (in years) 5.0 4.9 Weighted-average discount rate 7.1 % 7.3 % Finance leases: Finance lease right-of-use assets, gross $ 17,596 $ 17,596 Accumulated amortization (7,812) (10,012) Finance lease right-of-use assets, net (1) $ 9,784 $ 7,584 Finance lease liabilities, current (2) 4,204 2,035 Finance lease liabilities, non-current (3) 180 64 Total finance lease liabilities $ 4,384 $ 2,099 Weighted-average remaining lease term (in years) 2.4 1.9 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 Two Quarters of Fiscal 2024 2025 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows for operating leases $ 18,643 $ 22,916 Financing cash outflows for finance leases $ 1,540 $ 3,337 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 10,840 $ 28,636
Schedule of Future Lease Payments Under Non-Cancelable Leases	Future lease payments under our non-cancelable leases at the end of the second quarter of fiscal 2025 were as follows (in thousands): Fiscal Years Ending Operating Leases Finance Leases The remainder of 2025 $ 33,147 $ 1,938 2026 48,630 183 2027 31,226 — 2028 32,896 — 2029 26,729 — Thereafter 40,645 — Total future lease payments 213,273 2,121 Less: imputed interest (35,024) (22) Present value of total lease liabilities $ 178,249 $ 2,099
Sales-Type Leases, Payment to be Received, Maturity	Future minimum gross lease payments for the two seven-year leases allocated to the sales-type leases and operating lease components were as follows (in thousands). The remaining lease payments of $38.1 million allocated to the non-lease components, are excluded from the table below. Fiscal Years Ending Sales-Type Leases Operating Lease The remainder of 2025 $ 1,835 $ 1,483 2026 2,908 2,192 2027 2,908 2,192 2028 4,713 386 2029 5,100 — Thereafter 10,966 — Total future lease payments to be received $ 28,430 $ 6,253
Lessor, Operating Lease, Payment to be Received, Maturity	Future minimum gross lease payments for the two seven-year leases allocated to the sales-type leases and operating lease components were as follows (in thousands). The remaining lease payments of $38.1 million allocated to the non-lease components, are excluded from the table below. Fiscal Years Ending Sales-Type Leases Operating Lease The remainder of 2025 $ 1,835 $ 1,483 2026 2,908 2,192 2027 2,908 2,192 2028 4,713 386 2029 5,100 — Thereafter 10,966 — Total future lease payments to be received $ 28,430 $ 6,253

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	6 Months Ended
	Aug. 04, 2024
Share-Based Payment Arrangement [Abstract]
Schedule 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 (1,407,323) 12.63 Options forfeited (593) 1.95 Balance at the end of the second quarter of fiscal 2025 3,086,018 $ 13.94 2.2 $ 124,506 Vested and exercisable at the end of the second quarter of fiscal 2025 3,086,018 $ 13.94 2.2 $ 124,506
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 6,907,399 51.73 Vested (5,816,362) 25.87 Forfeited (1,470,857) 28.09 Unvested balance at the end of the second quarter of fiscal 2025 23,963,254 $ 34.10 $ 1,300,965
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) (888,487) 25.36 Unearned (3) (297,864) 23.86 Unvested balance at the end of the second quarter of fiscal 2025 2,186,748 $ 38.00 $ 118,719 ____________________________________ (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.
Schedule of 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): Second Quarter of Fiscal First Two Quarters of Fiscal 2024 2025 2024 2025 Cost of revenue—product $ 2,958 $ 3,445 $ 5,613 $ 6,227 Cost of revenue—subscription services 6,851 7,961 12,498 16,832 Research and development 44,085 50,869 82,317 101,163 Sales and marketing 19,493 24,418 36,674 47,937 General and administrative 16,060 18,197 30,175 45,725 Total stock-based compensation expense, net of amounts capitalized (1) $ 89,447 $ 104,890 $ 167,277 $ 217,884 _________________________________ (1) Stock-based compensation expense capitalized was $1.6 million and $2.0 million during the second quarter of fiscal 2024 and 2025, and $2.4 million and $3.6 million for the first two quarters of fiscal 2024 and 2025 .

Net Income (Loss) per Share A_2

Net Income (Loss) per Share Attributable to Common Stockholders (Tables)	6 Months Ended
	Aug. 04, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net Income (Loss) per Share Attributable to Common Stockholders	The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders (in thousands, except per share data): Second Quarter of Fiscal First Two Quarters of Fiscal 2024 2025 2024 2025 Numerator: Net income (loss) $ (7,115) $ 35,674 $ (74,516) $ 665 Denominator: Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic 309,510 326,326 307,687 324,458 Add: Dilutive effect of common stock equivalents — 17,117 — 17,051 Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted 309,510 343,443 307,687 341,509 Net income (loss) per share attributable to common stockholders, basic $ (0.02) $ 0.11 $ (0.24) $ 0.00 Net income (loss) per share attributable to common stockholders, diluted $ (0.02) $ 0.10 $ (0.24) $ 0.00
Schedule of Weighted-average Outstanding Shares Excluded from Computation of Diluted Net Income (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 income (loss) per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive (in thousands): Second Quarter of Fiscal First Two Quarters of Fiscal 2024 2025 2024 2025 Stock options to purchase common stock 6,982 — 7,928 — Unvested RSUs and PRSUs 34,350 429 31,072 215 Unvested LTP Awards 2,683 — 1,342 — Shares related to convertible senior notes — — 8,657 — Shares issuable pursuant to the ESPP 1,190 — 1,190 — Total 45,205 429 50,189 215

Other Income (Expense), Net (Ta

Other Income (Expense), Net (Tables)	6 Months Ended
	Aug. 04, 2024
Other Income and Expenses [Abstract]
Schedule of Other Income (Expense)	Other income (expense), net consists of the following (in thousands): Second Quarter of Fiscal First Two Quarters of Fiscal 2024 2025 2024 2025 Interest income (1) $ 10,496 $ 20,542 $ 23,485 $ 38,732 Interest expense (2) (1,962) (2,029) (3,347) (4,041) Foreign currency transactions gains (losses) (1,734) 980 (1,686) (1,112) Other expense (114) (56) (17) (51) Total other income (expense), net $ 6,686 $ 19,437 $ 18,435 $ 33,528 ____________________________________ (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)	6 Months Ended
	Aug. 04, 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): Second Quarter of Fiscal First Two Quarters of Fiscal 2024 2025 2024 2025 United States $ 494,650 $ 537,747 $ 921,814 $ 1,026,766 Rest of the world 194,021 226,024 356,164 430,484 Total revenue $ 688,671 $ 763,771 $ 1,277,978 $ 1,457,250
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 Second Quarter of Fiscal 2025 United States $ 340,121 $ 384,401 Rest of the world 12,483 12,275 Total long-lived assets $ 352,604 $ 396,676

Financial Instruments - Cash Eq

Financial Instruments - Cash Equivalents, Marketable Securities and Restricted Cash (Details) - USD ($) $ in Thousands	Aug. 04, 2024	Feb. 04, 2024
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 850,936
Fair Value	855,453
Cash Equivalents	21,897	$ 24,661
Marketable Securities	855,453	828,557
Restricted Cash	14,779	9,595
Amortized Cost	850,936	832,363
Total gross unrealized gains	5,466	2,034
Total gross unrealized losses	(949)	(4,006)
Total fair value	892,129	862,813
Level 1 | Money market accounts
Debt Securities, Available-for-sale [Line Items]
Fair Value	36,676	32,422
Cash Equivalents	21,897	22,827
Marketable Securities	0	0
Restricted Cash	14,779	9,595
Level 2 | U.S. government treasury notes
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	334,054	340,168
Gross Unrealized Gains	1,658	584
Gross Unrealized Losses	(362)	(1,374)
Fair Value	335,350	339,378
Cash Equivalents	0	1,834
Marketable Securities	335,350	337,544
Restricted Cash	0	0
Level 2 | U.S. government agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,399	4,397
Gross Unrealized Gains	1	2
Gross Unrealized Losses	(1)	0
Fair Value	4,399	4,399
Cash Equivalents	0	0
Marketable Securities	4,399	4,399
Restricted Cash	0	0
Level 2 | Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	435,932	419,051
Gross Unrealized Gains	3,218	1,163
Gross Unrealized Losses	(527)	(2,262)
Fair Value	438,623	417,952
Cash Equivalents	0	0
Marketable Securities	438,623	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	7	6
Gross Unrealized Losses	(3)	(16)
Fair Value	1,294	1,280
Cash Equivalents	0	0
Marketable Securities	1,294	1,280
Restricted Cash	0	0
Level 2 | Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	73,751	65,947
Gross Unrealized Gains	582	279
Gross Unrealized Losses	(47)	(316)
Fair Value	74,286	65,910
Cash Equivalents	0	0
Marketable Securities	74,286	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	(9)	(38)
Fair Value	1,501	1,472
Cash Equivalents	0	0
Marketable Securities	1,501	1,472
Restricted Cash	$ 0	$ 0

Financial Instruments - Amortiz

Financial Instruments - Amortized Cost and Estimated Fair Value (Details) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 04, 2024	Aug. 06, 2023	Aug. 04, 2024	Aug. 06, 2023
Amortized Cost
Due within one year	$ 350,834,000		$ 350,834,000
Due in one to five years	499,102,000		499,102,000
Due in five to ten years	1,000,000		1,000,000
Amortized Cost	850,936,000		850,936,000
Fair Value
Due within one year	350,374,000		350,374,000
Due in one to five years	504,066,000		504,066,000
Due in five to ten years	1,013,000		1,013,000
Total	855,453,000		855,453,000
Impairment charge for unrealized losses	$ 0	$ 0	$ 0	$ 0

Financial Instruments - Gross U

Financial Instruments - Gross Unrealized Losses and Fair Values (Details) - USD ($) $ in Thousands	Aug. 04, 2024	Feb. 04, 2024
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Fair Value, Less than 12 months	$ 34,244	$ 294,841
Unrealized Loss, Less than 12 months	(24)	(1,019)
Fair Value, Greater than 12 months	217,799	168,497
Unrealized Loss, Greater than 12 months	(925)	(2,987)
Fair Value, Total	252,043	463,338
Unrealized Loss, Total	(949)	(4,006)
U.S. government treasury notes
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Fair Value, Less than 12 months	10,626	166,565
Unrealized Loss, Less than 12 months	(1)	(725)
Fair Value, Greater than 12 months	117,120	47,842
Unrealized Loss, Greater than 12 months	(361)	(649)
Fair Value, Total	127,746	214,407
Unrealized Loss, Total	(362)	(1,374)
U.S. government agencies
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Fair Value, Less than 12 months	1,999
Unrealized Loss, Less than 12 months	(1)
Fair Value, Greater than 12 months	0
Unrealized Loss, Greater than 12 months	0
Fair Value, Total	1,999
Unrealized Loss, Total	(1)
Corporate debt securities
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Fair Value, Less than 12 months	21,492	116,247
Unrealized Loss, Less than 12 months	(22)	(260)
Fair Value, Greater than 12 months	86,536	104,810
Unrealized Loss, Greater than 12 months	(505)	(2,002)
Fair Value, Total	108,028	221,057
Unrealized Loss, Total	(527)	(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	587	573
Unrealized Loss, Greater than 12 months	(3)	(16)
Fair Value, Total	587	573
Unrealized Loss, Total	(3)	(16)
Asset-backed securities
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]
Fair Value, Less than 12 months	127	12,029
Unrealized Loss, Less than 12 months	0	(34)
Fair Value, Greater than 12 months	12,055	13,800
Unrealized Loss, Greater than 12 months	(47)	(282)
Fair Value, Total	12,182	25,829
Unrealized Loss, Total	(47)	(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	1,501	1,472
Unrealized Loss, Greater than 12 months	(9)	(38)
Fair Value, Total	1,501	1,472
Unrealized Loss, Total	$ (9)	$ (38)

Financial Instrument - Other Fi

Financial Instrument - Other Financial Instruments (Details) - USD ($) $ in Millions	Aug. 04, 2024	Feb. 04, 2024
Investments, Debt and Equity Securities [Abstract]
Defined contribution plan, plan liabilities, fair value	$ 5.8	$ 3.2

Balance Sheet Components - Inve

Balance Sheet Components - Inventory (Details) - USD ($) $ in Thousands	Aug. 04, 2024	Feb. 04, 2024
Balance Sheet Components Disclosure [Abstract]
Raw materials	$ 15,267	$ 19,317
Finished goods	28,281	23,346
Inventory	$ 43,548	$ 42,663

Balance Sheet Components - Prop

Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Aug. 04, 2024	Feb. 04, 2024
Property Plant And Equipment [Line Items]
Total property and equipment	$ 933,359	$ 832,852
Less: accumulated depreciation and amortization	(536,683)	(480,248)
Property and equipment, net	396,676	352,604
Test equipment
Property Plant And Equipment [Line Items]
Total property and equipment	420,303	371,269
Computer equipment and software
Property Plant And Equipment [Line Items]
Total property and equipment	350,805	319,636
Furniture and fixtures
Property Plant And Equipment [Line Items]
Total property and equipment	13,322	12,547
Leasehold improvements
Property Plant And Equipment [Line Items]
Total property and equipment	98,639	92,926
Capitalized software development costs
Property Plant And Equipment [Line Items]
Total property and equipment	$ 50,290	$ 36,474

Balance Sheet Components - Narr

Balance Sheet Components - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2024	Aug. 06, 2023	Aug. 04, 2024	Aug. 06, 2023
Finite-Lived Intangible Assets [Line Items]
Depreciation and amortization	$ 33.1	$ 27.2	$ 64.2	$ 53.8
Intangible assets amortization expense	$ 3.9	$ 4.1	$ 7.8	$ 8.3
Technology patents
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)			1 year 1 month 6 days
Developed technology
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)			1 year 6 months
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful life (in years)			3 years 2 months 12 days

Balance Sheet Components - Inta

Balance Sheet Components - Intangible Assets, Net (Details) - USD ($) $ in Thousands	Aug. 04, 2024	Feb. 04, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 110,545	$ 108,795
Accumulated Amortization	(83,541)	(75,783)
Net Carrying Amount	27,004	33,012
Technology patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	20,875	19,125
Accumulated Amortization	(16,794)	(16,107)
Net Carrying Amount	4,081	3,018
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	83,211	83,211
Accumulated Amortization	(63,200)	(56,589)
Net Carrying Amount	20,011	26,622
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	6,459	6,459
Accumulated Amortization	(3,547)	(3,087)
Net Carrying Amount	$ 2,912	$ 3,372

Balance Sheet Components - Expe

Balance Sheet Components - Expected Amortization Expenses for Intangible Assets (Details) - USD ($) $ in Thousands	Aug. 04, 2024	Feb. 04, 2024
Balance Sheet Components Disclosure [Abstract]
Remainder of 2025	$ 7,931
2026	13,266
2027	3,543
2028	1,498
2029	604
Thereafter	162
Net Carrying Amount	$ 27,004	$ 33,012

Balance Sheet Components - Good

Balance Sheet Components - Goodwill (Details) - USD ($)	3 Months Ended
	Aug. 04, 2024	Aug. 06, 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	Aug. 04, 2024	Feb. 04, 2024
Balance Sheet Components Disclosure [Abstract]
Taxes payable	$ 8,971	$ 13,097
Accrued marketing	18,356	18,438
Accrued cloud and outside services	5,752	5,973
Supply chain-related accruals	17,657	25,962
Accrued service logistics and professional services	8,666	9,636
Finance lease liabilities, current	2,035	4,204
Customer deposits from contracts with customers	22,550	23,534
Other accrued liabilities	35,443	34,911
Total accrued expenses and other liabilities	$ 119,430	$ 135,755

Deferred Revenue and Commissi_3

Deferred Revenue and Commissions - Deferred Commissions (Details) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 04, 2024	Aug. 06, 2023	Aug. 04, 2024	Aug. 06, 2023
Deferred Commissions [Roll Forward]
Beginning balance	$ 296,626,000	$ 248,188,000	$ 304,332,000	$ 245,856,000
Additions	39,415,000	45,028,000	69,040,000	80,129,000
Recognition of deferred commissions	(37,862,000)	(37,799,000)	(75,193,000)	(70,568,000)
Ending balance	$ 298,179,000	255,417,000	$ 298,179,000	255,417,000
Commission expected to be recognized over the next 12 months (percent)	29%		29%
Commission recognition period	12 months
Impairment of capitalized commissions	$ 0	$ 0	$ 0	$ 0

Deferred Revenue and Commissi_4

Deferred Revenue and Commissions - Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 04, 2024	Aug. 06, 2023	Aug. 04, 2024	Aug. 06, 2023
Contract Liability
Additions	$ 39,415	$ 45,028	$ 69,040	$ 80,129
Recognition of deferred revenue	(37,862)	(37,799)	(75,193)	(70,568)
Deferred revenue recognized	301,800	255,900	519,800	430,300
Product Revenue and Support Subscription Revenue
Contract Liability
Beginning balance	1,601,476	1,395,670	1,594,522	1,385,650
Additions	367,722	326,173	709,511	606,441
Recognition of deferred revenue	(345,539)	(284,800)	(680,374)	(555,048)
Ending balance	$ 1,623,660	$ 1,437,043	$ 1,623,660	$ 1,437,043

Deferred Revenue and Commissi_5

Deferred Revenue and Commissions - Remaining Performance Obligation (Details) $ in Millions	Aug. 04, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Contracted but not recognized revenue	$ 2,300
Non-cancelable product orders	49
Lessor arrangement	$ 13.5

Deferred Revenue and Commissi_6

Deferred Revenue and Commissions - Remaining Performance Obligation Period (Details)	Aug. 04, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-08-08
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized (as a percent)	48%
Revenue expected to be recognized term (in months)	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-08-08
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized term (in months)

Debt - Narrative (Details)

Debt - Narrative (Details)		1 Months Ended	3 Months Ended		6 Months Ended
	Aug. 24, 2020 USD ($)	Apr. 30, 2023 USD ($)	Aug. 04, 2024 USD ($)	Aug. 06, 2023	Aug. 04, 2024 USD ($) financial_ratio	Aug. 06, 2023 USD ($)
Debt Instrument [Line Items]
Proceeds from lines of credit					$ 0	$ 100,000,000
Revolving Credit Facility
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		$ 100,000,000
Interest during the period (percent)			6.83%	6.53%	6.83%	6.49%
Number of financial ratios | financial_ratio					2
Consolidated leverage ratio, maximum					4.5
Interest coverage ratio, minimum					3
Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Commitment fee (percent)					0.25%
Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Commitment fee (percent)					0.40%
Revolving Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Margin rate (percent)					0.50%
Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Margin rate (percent)					1.25%
Revolving Credit Facility | Secured Overnight Financing Rate | Minimum
Debt Instrument [Line Items]
Margin rate (percent)					1.50%
Revolving Credit Facility | Secured Overnight Financing Rate | Maximum
Debt Instrument [Line Items]
Margin rate (percent)					2.25%
Revolving Credit Facility | Secured Overnight Financing Rate | Interest Rate Floor
Debt Instrument [Line Items]
Effective interest rate (percent)			0%		0%

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	Aug. 04, 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 Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2024 USD ($) lease	Feb. 04, 2024 USD ($) lease	Aug. 04, 2024 USD ($) lease	May 05, 2024 USD ($)
Lessee, Lease, Description [Line Items]
Aggregate lease payments				$ 32.7
Finance lease, term	3 years		3 years
Lessor arrangement, number of leases | lease	2	3	2
Lessor arrangement, term of contract		7 years	7 years
Non-cancelable lease payments receivable, net	$ 50.6	$ 76.6	$ 50.6
Sales-type lease, revenue	8		15.2
Sales-type lease, selling profit	6.1		11.4
Subscription and non-lease components of service revenue	$ 1.9		$ 2.1
Data Centers
Lessee, Lease, Description [Line Items]
Lessee, operating lease, lease not yet commenced, term of contract				7 years

Leases - Lease costs (Details)

Leases - Lease costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 04, 2024	Aug. 06, 2023	Aug. 04, 2024	Aug. 06, 2023
Leases [Abstract]
Fixed operating lease cost	$ 11,548	$ 12,652	$ 22,537	$ 26,653
Variable lease cost	3,202	3,590	6,794	5,674
Short-term lease cost (12 months or less)	957	1,075	1,854	2,133
Amortization of finance lease right-of-use assets	1,100	1,100	2,200	2,200
Interest on finance lease liabilities	62	128	125	257
Total finance lease cost	1,162	1,228	2,325	2,457
Total lease cost	$ 16,869	$ 18,545	$ 33,510	$ 36,917

Leases - Lease term and discoun

Leases - Lease term and discount rate (Details) - USD ($) $ in Thousands	Aug. 04, 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	7.30%	7.10%
Finance leases:
Finance lease right-of-use assets, gross	$ 17,596	$ 17,596
Accumulated amortization	(10,012)	(7,812)
Finance lease right-of-use assets, net	7,584	9,784
Finance lease liabilities, current	2,035	4,204
Finance lease liabilities, non-current	64	180
Present value of total lease liabilities	$ 2,099	$ 4,384
Weighted-average remaining lease term (in years)	1 year 10 months 24 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	6 Months Ended
	Aug. 04, 2024	Aug. 06, 2023
Leases [Abstract]
Operating cash outflows for operating leases	$ 22,916	$ 18,643
Financing cash outflows for finance leases	3,337	1,540
Operating leases	$ 28,636	$ 10,840

Leases - Future lease payments

Leases - Future lease payments (Details) - USD ($) $ in Thousands	Aug. 04, 2024	Feb. 04, 2024
Operating Leases
The remainder of 2025	$ 33,147
2026	48,630
2027	31,226
2028	32,896
2029	26,729
Thereafter	40,645
Total future lease payments	213,273
Less: imputed interest	(35,024)
Present value of total lease liabilities	178,249
Finance Leases
The remainder of 2025	1,938
2026	183
2027	0
2028	0
2029	0
Thereafter	0
Total future lease payments	2,121
Less: imputed interest	(22)
Present value of total lease liabilities	$ 2,099	$ 4,384

Leases - Future minimum lease p

Leases - Future minimum lease payments on lease receivables (Details) $ in Thousands	Aug. 04, 2024 USD ($)
Leases [Abstract]
Non-lease components of remaining amount	$ 38,100
Sales-Type Leases
The remainder of 2025	1,835
2026	2,908
2027	2,908
2028	4,713
2029	5,100
Thereafter	10,966
Total future lease payments to be received	28,430
Operating Lease
The remainder of 2025	1,483
2026	2,192
2027	2,192
2028	386
2029	0
Thereafter	0
Total future lease payments to be received	$ 6,253

Restructuring and Impairment (D

Restructuring and Impairment (Details) $ in Millions	1 Months Ended	3 Months Ended			6 Months Ended
	Feb. 29, 2024 USD ($) employee	Aug. 04, 2024 USD ($)	Feb. 04, 2024 USD ($)	Aug. 06, 2023 USD ($)	Aug. 04, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Impairment charge to operating lease right-of-use assets				$ 15.9
Lease abandonment charges				$ 0.9
Ceased Use of Certain Leased Facilities
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		$ 3.9
Impairment charge to operating lease right-of-use assets		$ 2.5
Workforce Realignment Costs [Member]
Restructuring Cost and Reserve [Line Items]
Payments for Restructuring					$ (25.3)
Workplace Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Number of employees impacted | employee	250
Total restructuring cost	$ 27.9
Workplace Restructuring Plan | Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					9.5
Workplace Restructuring Plan | Cost of Revenue
Restructuring Cost and Reserve [Line Items]
Restructuring Charges					0.4
Workplace Restructuring Plan | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			$ 18		$ 9.9

Stockholders' Equity (Details)

Stockholders' Equity (Details) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Aug. 04, 2024 USD ($) stock_class $ / shares shares	Aug. 04, 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		20,000,000
Preferred stock, shares issued (in shares)	0	0		0
Preferred stock, shares outstanding (in shares)	0	0		0
Number of classes of stock | stock_class	2	2
Common stock, shares authorized (in shares)	2,250,000,000	2,250,000,000		2,250,000,000
Authorized amount remaining under stock repurchase program | $	$ 395.4	$ 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		2,000,000,000
Common stock, par value per share (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001		$ 0.0001
Common stock, shares issued (in shares)	327,465,000	327,465,000		319,523,000
Common stock, shares outstanding (in shares)	327,465,000	327,465,000		319,523,000
Class B common stock
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	250,000,000	250,000,000		250,000,000
Common stock, par value per share (in dollars per share) | $ / shares	$ 0.0001	$ 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	0

Equity Incentive Plans - Narrat

Equity Incentive Plans - Narrative (Details)	1 Months Ended	3 Months Ended				6 Months Ended
	Jun. 30, 2023 shares	Aug. 04, 2024 USD ($) purchasePeriod $ / shares shares	May 05, 2024 USD ($)	Aug. 06, 2023 USD ($)	May 07, 2023 USD ($)	Aug. 04, 2024 USD ($) purchasePeriod plan $ / shares shares	Aug. 06, 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
Tax withholding on vesting of restricted stock (in shares) | shares		1,100,000				1,400,000
Tax withholding on vesting of restricted stock units		$ 76,183,000		$ 5,068,000		$ 88,661,000	$ 11,827,000
Share-based payment arrangement, expense		104,890,000		89,447,000		217,884,000	167,277,000
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense		$ 79,700,000		69,400,000		147,400,000	130,100,000
Compensation cost (in years)		2 years 9 months 18 days
Compensation not yet recognized		$ 772,000,000				$ 772,000,000
Granted (in shares) | shares						6,907,399
Unvested awards (in shares) | shares		23,963,254				23,963,254		24,343,074
Aggregate intrinsic value		$ 1,300,965,000				$ 1,300,965,000		$ 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		$ 13,100,000		10,600,000		$ 46,600,000	20,900,000
Compensation cost (in years)		2 years 3 months 18 days
Compensation not yet recognized		$ 47,700,000				$ 47,700,000
Award vesting rights, target (as a percent)						100%
Award vesting rights, target shares earned (percent)			80%
Share-based payment arrangement, vesting period		$ 3,200,000				$ 31,900,000
Granted (in shares) | shares						1,102,502
Unvested awards (in shares) | shares		2,186,748				2,186,748		2,270,597
Aggregate intrinsic value		$ 118,719,000				$ 118,719,000		$ 95,933,000
Long-Term Performance Incentive RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense		3,700,000		2,400,000		7,300,000	2,400,000
Unrecognized stock-based compensation expense		$ 53,400,000				53,400,000
Compensation cost (in years)		3 years 7 months 6 days
Compensation not yet recognized		$ 73,900,000				$ 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				4,000,000
Aggregate intrinsic value		$ 217,500,000				$ 217,500,000
Class A common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing price of stock (in dollars per share) | $ / shares		$ 54.29				$ 54.29
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				4
Purchase period, term						6 months
Modification charge					$ 16,700,000
Share-based payment arrangement, expense		$ 8,300,000		$ 6,500,000		$ 16,300,000	$ 12,600,000
Unrecognized stock-based compensation expense		$ 24,100,000				$ 24,100,000
Compensation cost (in years)		9 months 18 days
2015 Employee Stock Purchase Plan | Class A common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payroll deductions percentage		30%				30%
Share cap for ESPP at purchase date (in shares) | shares		3,000				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				$ 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	6 Months Ended	12 Months Ended
	Aug. 04, 2024	Feb. 04, 2024
Number of Shares
Beginning balance (in shares)	4,493,934
Options exercised (in shares)	(1,407,323)
Options forfeited (in shares)	(593)
Ending balance (in shares)	3,086,018	4,493,934
Vested and exercisable (in shares)	3,086,018
Weighted- Average Exercise Price
Beginning balance (in dollars per share)	$ 13.63
Options exercised (in dollars per share)	12.63
Options forfeited (in dollars per share)	1.95
Ending balance (in dollars per share)	13.94	$ 13.63
Weighted Average Exercise Price, Vested and exercisable (in dollars per share)	$ 13.94
Weighted- Average Remaining Contractual Life (In Years)
Weighted Average Remaining Contractual Life (in years)	2 years 2 months 12 days	2 years 3 months 18 days
Weighted Average Remaining Contractual Life (in years), Vested and exercisable	2 years 2 months 12 days
Aggregate Intrinsic Value (in thousands)
Aggregate Intrinsic Value	$ 124,506	$ 129,065
Aggregate Intrinsic Value, Vested and exercisable	$ 124,506

Equity Incentive Plans - Restri

Equity Incentive Plans - Restricted Stock Units (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Aug. 04, 2024	Feb. 04, 2024
Unvested RSUs and PRSUs
Number of RSUs Outstanding
Unvested, Beginning balance (in shares)	24,343,074
Granted (in shares)	6,907,399
Vested (in shares)	(5,816,362)
Unearned (in shares)	(1,470,857)
Unvested, Ending balance (in shares)	23,963,254
Weighted- Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 26.77
Granted (in dollars per share)	51.73
Vested (in dollars per share)	25.87
Unearned (in dollars per share)	28.09
Ending balance (in dollars per share)	$ 34.10
Aggregate Intrinsic Value	$ 1,300,965	$ 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)	(888,487)
Unearned (in shares)	(297,864)
Unvested, Ending balance (in shares)	2,186,748
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)	25.36
Unearned (in dollars per share)	23.86
Ending balance (in dollars per share)	$ 38
Aggregate Intrinsic Value	$ 118,719	$ 95,933
Award vesting rights, target (as a percent)	100%

Equity Incentive Plans - Stock-

Equity Incentive Plans - Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 04, 2024	Aug. 06, 2023	Aug. 04, 2024	Aug. 06, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 104,890	$ 89,447	$ 217,884	$ 167,277
Share-based compensation expense	2,000	1,600	3,600	2,400
Cost of revenue—product
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	3,445	2,958	6,227	5,613
Cost of revenue—subscription services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	7,961	6,851	16,832	12,498
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	50,869	44,085	101,163	82,317
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	24,418	19,493	47,937	36,674
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 18,197	$ 16,060	$ 45,725	$ 30,175

Net Income (Loss) per Share A_3

Net Income (Loss) per Share Attributable to Common Stockholders - Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 04, 2024	Aug. 06, 2023	Aug. 04, 2024	Aug. 06, 2023
Earnings Per Share [Abstract]
Net income (loss)	$ 35,674	$ (7,115)	$ 665	$ (74,516)
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, basic (in shares)	326,326	309,510	324,458	307,687
Add: Dilutive effect of common stock equivalents (in shares)	17,117	0	17,051	0
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted (in shares)	343,443	309,510	341,509	307,687
Net income (loss) per share attributable to common stockholders, basic (in dollars per share)	$ 0.11	$ (0.02)	$ 0	$ (0.24)
Net income (loss) per share attributable to common stockholders, diluted (in dollars per share)	$ 0.10	$ (0.02)	$ 0	$ (0.24)

Net Income (Loss) per Share A_4

Net Income (Loss) per Share Attributable to Common Stockholders - Weighted-average Outstanding Shares Excluded from Computation of Diluted Net Income (Loss) per Share Attributable to Common Stockholders (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Aug. 04, 2024	Aug. 06, 2023	Aug. 04, 2024	Aug. 06, 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)	429	45,205	215	50,189
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)	0	6,982	0	7,928
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)	429	34,350	215	31,072
Unvested LTP Awards
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	2,683	0	1,342
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	0	0	8,657
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)	0	1,190	0	1,190

Other Income (Expense), Net - O

Other Income (Expense), Net - Other Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 04, 2024	Aug. 06, 2023	Aug. 04, 2024	Aug. 06, 2023
Other Income and Expenses [Abstract]
Interest income	$ 20,542	$ 10,496	$ 38,732	$ 23,485
Interest expense	(2,029)	(1,962)	(4,041)	(3,347)
Foreign currency transactions gains (losses)	980	(1,734)	(1,112)	(1,686)
Other expense	(56)	(114)	(51)	(17)
Total other income (expense), net	$ 19,437	$ 6,686	$ 33,528	$ 18,435

Segment Information - Revenue b

Segment Information - Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 04, 2024	Aug. 06, 2023	Aug. 04, 2024	Aug. 06, 2023
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue	$ 763,771	$ 688,671	$ 1,457,250	$ 1,277,978
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue	537,747	494,650	1,026,766	921,814
Rest of the world
Revenues From External Customers And Long Lived Assets [Line Items]
Total revenue	$ 226,024	$ 194,021	$ 430,484	$ 356,164

Segment Information - Long-Live

Segment Information - Long-Lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Aug. 04, 2024	Feb. 04, 2024
Revenues From External Customers And Long Lived Assets [Line Items]
Total long-lived assets	$ 396,676	$ 352,604
United States
Revenues From External Customers And Long Lived Assets [Line Items]
Total long-lived assets	384,401	340,121
Rest of the world
Revenues From External Customers And Long Lived Assets [Line Items]
Total long-lived assets	$ 12,275	$ 12,483