PURE STORAGE, INC., 10-Q filed on 6/11/2025
Quarterly Report
v3.25.1
Cover - shares
 3 Months Ended
May 04, 2025
Jun. 04, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date May 04, 2025  
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, $0.0001 par value per share  
Trading Symbol PSTG  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   326,831,678
Amendment Flag false  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Entity Central Index Key 0001474432  
Current Fiscal Year End Date --02-01  
v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
May 04, 2025
Feb. 02, 2025
Current assets:    
Cash and cash equivalents $ 739,336 $ 723,583
Marketable securities 839,748 798,237
Accounts receivable, net of allowance of $940 and $959 411,319 680,862
Inventory 37,548 42,810
Deferred commissions, current 101,288 99,286
Prepaid expenses and other current assets 270,988 222,501
Total current assets 2,400,227 2,567,279
Property and equipment, net 503,527 461,731
Operating lease right-of-use assets 138,423 146,655
Deferred commissions, non-current 230,989 229,334
Intangible assets, net 15,108 19,074
Goodwill 361,427 361,427
Restricted cash 19,046 12,553
Other assets, non-current 141,618 165,889
Total assets 3,810,365 3,963,942
Current liabilities:    
Accounts payable 83,858 112,385
Accrued compensation and benefits 142,333 230,040
Accrued expenses and other liabilities 157,733 156,791
Operating lease liabilities, current 41,266 43,489
Deferred revenue, current 969,321 953,836
Debt, current 100,000 100,000
Total current liabilities 1,494,511 1,596,541
Operating lease liabilities, non-current 129,735 137,277
Deferred revenue, non-current 858,224 841,467
Other liabilities, non-current 83,840 82,182
Total liabilities 2,566,310 2,657,467
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; 326,102 and 326,938 Class A shares issued and outstanding 33 33
Additional paid-in capital 2,625,198 2,674,500
Accumulated other comprehensive income 1,831 954
Accumulated deficit (1,383,007) (1,369,012)
Total stockholders’ equity 1,244,055 1,306,475
Total liabilities and stockholders’ equity $ 3,810,365 $ 3,963,942
v3.25.1
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
May 04, 2025
Feb. 02, 2025
Accounts receivable, allowance $ 959 $ 940
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 20,000,000.0 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) 326,938,000 326,102,000
Common stock, shares outstanding (in shares) 326,938,000 326,102,000
Class B common stock    
Common stock, par value per share (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 250,000,000.0 250,000,000
v3.25.1
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
May 04, 2025
May 05, 2024
Total revenue $ 778,485 $ 693,479
Total cost of revenue 242,332 197,773
Gross profit 536,153 495,706
Operating expenses:    
Research and development 221,740 193,820
Sales and marketing 278,512 250,972
General and administrative 67,072 76,787
Restructuring and impairment 0 15,901
Total operating expenses 567,324 537,480
Loss from operations (31,171) (41,774)
Other income (expense), net 31,655 14,091
Income (loss) before provision for income taxes 484 (27,683)
Provision for income taxes 14,479 7,326
Net loss $ (13,995) $ (35,009)
Net loss per share attributable to common stockholders, basic (in dollars per share) $ (0.04) $ (0.11)
Net loss per share attributable to common stockholders, diluted (in dollars per share) $ (0.04) $ (0.11)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) 326,539 322,589
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) 326,539 322,589
Product    
Total revenue $ 372,144 $ 347,384
Total cost of revenue 141,050 100,753
Subscription services    
Total revenue 406,341 346,095
Total cost of revenue $ 101,282 $ 97,020
v3.25.1
Condensed Consolidated Statements of Comprehensive Loss - USD ($)
$ in Thousands
 3 Months Ended
May 04, 2025
May 05, 2024
Statement of Comprehensive Income [Abstract]    
Net loss $ (13,995) $ (35,009)
Other comprehensive income (loss):    
Unrealized net gains (losses) on available-for-sale securities 974 (1,640)
Less: reclassification adjustment for net gains on available-for-sale securities included in net loss (97) (162)
Change in unrealized net gains (losses) on available-for-sale securities 877 (1,802)
Comprehensive loss $ (13,118) $ (36,811)
v3.25.1
Condensed Consolidated Statements of Stockholders’ Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income
Accumulated Deficit
Beginning balance (in shares) at Feb. 04, 2024   319,523      
Beginning balance at Feb. 04, 2024 $ 1,270,094 $ 32 $ 2,749,595 $ (3,782) $ (1,475,751)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock upon exercise of stock options (in shares)   1,034      
Issuance of common stock upon exercise of stock options 13,223   13,223    
Stock-based compensation expense 114,617   114,617    
Vesting of restricted stock units (in shares)   3,679      
Vesting of restricted stock units 0 $ 1 (1)    
Tax withholding on vesting of restricted stock units (in shares)   (250)      
Tax withholding on vesting of restricted stock units (12,478)   (12,478)    
Common stock issued under employee stock purchase plan (in shares)   1,195      
Common stock issued under employee stock purchase plan 25,328   25,328    
Other comprehensive (loss) income (1,802)     (1,802)  
Net loss (35,009)       (35,009)
Ending balance (in shares) at May. 05, 2024   325,181      
Ending balance at May. 05, 2024 1,373,973 $ 33 2,890,284 (5,584) (1,510,760)
Beginning balance (in shares) at Feb. 02, 2025   326,102      
Beginning balance at Feb. 02, 2025 1,306,475 $ 33 2,674,500 954 (1,369,012)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock upon exercise of stock options (in shares)   348      
Issuance of common stock upon exercise of stock options 5,363   5,363    
Stock-based compensation expense 98,178   98,178    
Vesting of restricted stock units (in shares)   2,977      
Vesting of restricted stock units 0        
Tax withholding on vesting of restricted stock units (in shares)   (1,167)      
Tax withholding on vesting of restricted stock units (60,147)   (60,147)    
Common stock issued under employee stock purchase plan (in shares)   1,170      
Common stock issued under employee stock purchase plan 27,240   27,240    
Repurchase of common stock (in shares)   (2,492)      
Repurchases of common stock (119,936)   (119,936)    
Other comprehensive (loss) income 877     877  
Net loss (13,995)       (13,995)
Ending balance (in shares) at May. 04, 2025   326,938      
Ending balance at May. 04, 2025 $ 1,244,055 $ 33 $ 2,625,198 $ 1,831 $ (1,383,007)
v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
May 04, 2025
May 05, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (13,995) $ (35,009)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 33,770 33,943
Stock-based compensation expense 96,275 112,994
Noncash portion of lease impairment and abandonment 0 3,270
Other 705 1,606
Changes in operating assets and liabilities:    
Accounts receivable, net 269,542 238,768
Inventory 2,669 (1,705)
Deferred commissions (3,657) 7,707
Prepaid expenses and other assets (19,440) (9,219)
Operating lease right-of-use assets 8,397 8,122
Accounts payable (26,991) (26,581)
Accrued compensation and other liabilities (84,343) (109,124)
Operating lease liabilities (11,238) (10,226)
Deferred revenue 32,242 6,954
Net cash provided by operating activities 283,936 221,500
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (72,346) (48,818)
Purchase of strategic investment 0 (5,000)
Purchases of marketable securities (114,896) (160,123)
Sales of marketable securities 18,207 37,689
Maturities of marketable securities 57,253 127,857
Net cash used in investing activities (111,782) (48,395)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of stock options 5,359 13,223
Proceeds from issuance of common stock under employee stock purchase plan 27,240 25,328
Principal payments on borrowings and finance lease obligations (1,125) (1,099)
Tax withholding on vesting of equity awards (61,300) (12,478)
Repurchases of common stock (119,936) 0
Net cash provided by (used in) financing activities (149,762) 24,974
Net increase in cash, cash equivalents and restricted cash 22,392 198,079
Cash, cash equivalents and restricted cash, beginning of period 737,750 712,131
Cash, cash equivalents and restricted cash, end of period 760,142 910,210
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD    
Cash and cash equivalents 739,336 900,615
Restricted cash 20,806 9,595
Restricted cash included in prepaid expenses and other current assets 1,800  
Cash, cash equivalents and restricted cash, end of period 760,142 910,210
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 1,427 1,743
Cash paid for income taxes 8,273 3,542
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION    
Property and equipment purchased but not yet paid $ 15,977 $ 15,242
v3.25.1
Business Overview
 3 Months Ended
May 04, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Business Overview Business Overview
Organization and Description of Business
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.
v3.25.1
Basis of Presentation and Summary of Significant Accounting Policies
 3 Months Ended
May 04, 2025
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 2025 was February 2, 2025 and for fiscal 2026 will be February 1, 2026. The first quarter of fiscal 2025 and 2026 ended on May 5, 2024 and May 4, 2025. 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 2025.
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 2026 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, fair value for certain stock-based awards, provision for income taxes including related reserves, fair value of leases and impairment of related right-of-use (ROU) assets. Management bases its estimates on historical experience and on various other assumptions which management believes to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.
Restricted Cash
Restricted cash is associated with our letters of credit for leases and certain employee-related benefits. At the end of fiscal 2025 and the first quarter of fiscal 2026, we had restricted cash of $14.2 million and $20.8 million. Included in these amounts are $1.6 million and $1.8 million classified as prepaid expenses and other current assets in our condensed consolidated balance sheets.
Recent Accounting Pronouncements Not Yet Adopted
In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (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.
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires additional disclosures of specific expense categories included within each expense caption presented on the Statements of Operations. The new standard can be applied on either a fully retrospective or prospective basis. ASU 2024-03 will be effective for our fiscal year beginning February 1, 2027, and interim periods within our fiscal year beginning February 7, 2028, with early adoption permitted. We are currently evaluating the impact of this new standard on our financial statement disclosures.
v3.25.1
Financial Instruments
 3 Months Ended
May 04, 2025
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.
We measure our cash equivalents, marketable securities, publicly held equity securities, and restricted cash at fair value on a recurring basis. We classify these assets 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 assets that were measured at fair value on a recurring basis by significant investment categories and their classification within the fair value hierarchy and in our condensed consolidated balance sheets at the end of fiscal 2025 and the first quarter of fiscal 2026 (in thousands):
 At the End of Fiscal 2025
 Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Cash
Equivalents
Marketable
Securities
Restricted
Cash
Level 1      
Money market accounts$— $— $— $264,067 $258,750 $— $5,317 
Level 2      
U.S. government treasury notes360,578 735 (146)361,167 27,663 333,504 — 
U.S. government agencies1,400 — — 1,400 — 1,400 — 
Corporate debt securities395,532 1,903 (55)397,380 — 397,380 — 
Foreign government bonds700 3 — 703 — 703 — 
Asset-backed securities64,926 331 (7)65,250 — 65,250 — 
Total$823,136 $2,972 $(208)$1,089,967 $286,413 $798,237 $5,317 

 
At the End of the First Quarter of Fiscal 2026
 
Cost or Amortized
Cost
Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Cash
Equivalents
Marketable
Securities
Restricted
Cash
Prepaid Expenses and Other Current Assets
Level 1
Money market accounts$— $— $— $202,151 $190,686 $— $11,465 $— 
Equity securities (1)
24,999 2,435 — 27,434 — — — 27,434 
Level 2       
U.S. government treasury notes343,608 1,132 (75)344,665 1,558 343,107 — — 
Corporate debt securities423,887 2,307 (47)426,147 — 426,147 — — 
Foreign government bonds700 2 — 702 — 702 — — 
Asset-backed securities69,470 332 (10)69,792 — 69,792 — — 
Total$862,664 $6,208 $(132)$1,070,891 $192,244 $839,748 $11,465 $27,434 
_________________________________
(1) Subject to short-term lock-up restrictions.
The amortized cost and estimated fair value of our marketable securities are shown below by contractual maturity (in thousands):
 
At the End of the First Quarter of Fiscal 2026
 Amortized CostFair Value
Due within one year$319,474 $320,003 
Due in one to five years514,133 517,239 
Due in five to ten years2,500 2,506 
Total$836,107 $839,748 
Unrealized losses on our marketable securities have not been recorded into income because we do not intend to sell nor is it more likely than not that we will be required to sell these investments prior to recovery of their amortized cost basis. The fair value of our marketable securities is impacted by the interest rate environment and related credit spreads. The credit ratings associated with our marketable securities are highly rated and the issuers continue to make timely principal and interest payments. As a result, there were no credit or non-credit impairment charges recorded in the first quarter of fiscal 2025 and 2026. The following table presents the fair values and gross unrealized losses for those investments that were in a continuous unrealized loss position at the end of fiscal 2025 and the first quarter of fiscal 2026, aggregated by investment category (in thousands):
At the End of Fiscal 2025
Less than 12 monthsGreater than 12 monthsTotal
Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
U.S. government treasury notes$99,397 $(146)$— $— $99,397 $(146)
Corporate debt securities33,619 (55)1,998 — 35,617 (55)
Asset-backed securities10,702 (7)30 — 10,732 (7)
Total$143,718 $(208)$2,028 $— $145,746 $(208)

At the End of the First Quarter of Fiscal 2026
 Less than 12 months
 Fair
Value		Unrealized
Loss
U.S. government treasury notes$98,847 $(75)
Corporate debt securities36,214 (47)
Asset-backed securities11,003 (10)
Total$146,064 $(132)
Realized gains or losses on sale of marketable securities were not significant for all periods presented.
Strategic Investments
Strategic investments primarily include equity investments in privately-held companies without readily determinable fair values in which we do not own a controlling interest or exercise significant influence. At the end of fiscal 2025 and the first quarter of 2026, the carrying amount of these investments was $36.7 million and $11.7 million and included primarily in other assets, non-current in our condensed consolidated balance sheets. During the first quarter of fiscal 2026, one of the privately-held companies completed its initial public offering and as a result its fair value at the end of the first quarter of fiscal 2026 is included in the above fair value hierarchy table as Level 1.
Strategic investments that are remeasured due to an observable event or impairment are classified as Level 3 in the fair value hierarchy as nonrecurring fair value measurements may include observable and unobservable inputs. No remeasurements occurred during the first quarter of fiscal 2025 and 2026.
Other Financial Instruments
The investments held in our nonqualified deferred compensation plan trust are considered trading securities that are measured at fair value using Level 1 inputs. The fair value of these investments was $8.4 million and $10.6 million at the end of fiscal 2025 and the first quarter of fiscal 2026.
v3.25.1
Balance Sheet Components
 3 Months Ended
May 04, 2025
Balance Sheet Components Disclosure [Abstract]  
Balance Sheet Components Balance Sheet Components
Inventory
Inventory consists of the following (in thousands):
At the End of
Fiscal 2025
First Quarter of Fiscal 2026
Raw materials$9,616 $7,301 
Finished goods33,194 30,247 
Inventory$42,810 $37,548 
Property and Equipment, Net
Property and equipment, net consists of the following (in thousands):
 
At the End of
 Fiscal 2025
First Quarter of Fiscal 2026
Test and infrastructure equipment (1)
$457,033 $461,934 
Computer equipment and software393,623 416,446 
Furniture and fixtures13,948 14,203 
Leasehold improvements102,002 103,456 
Capitalized software development costs65,824 73,135 
Total property and equipment1,032,430 1,069,174 
Less: accumulated depreciation and amortization(570,699)(565,647)
Property and equipment, net$461,731 $503,527 
_________________________________
(1) Includes finance lease right-of-use assets. Refer to Note 8.
Depreciation and amortization expense related to property and equipment was $31.1 million and $30.3 million for the first quarter of fiscal 2025 and 2026.
Intangible Assets, Net
Intangible assets, net consist of the following (in thousands):
 
At the End of
 Fiscal 2025
First Quarter of Fiscal 2026
Gross Carrying ValueAccumulated AmortizationNet Carrying AmountGross Carrying ValueAccumulated AmortizationNet Carrying Amount
Technology patents$20,875 $(17,652)$3,223 $20,875 $(18,082)$2,793 
Developed technology83,211 (69,812)13,399 83,211 (73,118)10,093 
Customer relationships6,459 (4,007)2,452 6,459 (4,237)2,222 
Intangible assets, net$110,545 $(91,471)$19,074 $110,545 $(95,437)$15,108 
 
Intangible assets amortization expense was $3.9 million and $4.0 million for the first quarter of fiscal 2025 and 2026. At the end of the first quarter of fiscal 2026, the weighted-average remaining amortization period was 0.7 year for technology patents, 0.8 year for developed technology, and 2.4 years for customer relationships. We record amortization of technology patents in general and administrative expenses due to their defensive nature, developed technology in cost of product revenue, and customer relationships in sales and marketing expenses in the condensed consolidated statements of operations.
At the end of the first quarter of fiscal 2026, future expected amortization expense for intangible assets is as follows (in thousands):
Fiscal Years EndingEstimated Future
Amortization Expense
Remainder of 2026$9,301 
20273,543 
20281,498 
2029604 
2030162 
Total$15,108 
Goodwill
As of the end of fiscal 2025 and the first quarter of fiscal 2026, goodwill was $361.4 million. There were no impairments to goodwill for the first quarter of fiscal 2025 and 2026.
Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consist of the following (in thousands):
At the End of
 Fiscal 2025
First Quarter of Fiscal 2026
Taxes payable $16,176 $10,976 
Accrued marketing26,619 24,344 
Engineering-related accruals (1)
12,802 6,471 
Supply chain-related accruals (2)
19,927 29,005 
Accrued service logistics and professional services10,286 12,353 
Finance lease liabilities, current387 297 
Customer deposits from contracts with customers31,143 30,249 
Other accrued liabilities39,451 44,038 
Total accrued expenses and other liabilities$156,791 $157,733 
_________________________________
(1) Primarily consists of subscription cloud services and outside services costs.
(2) Primarily consists of accruals related to our inventory and inventory purchase commitments with our contract manufacturers.
v3.25.1
Deferred Revenue and Commissions
 3 Months Ended
May 04, 2025
Revenue from Contract with Customer [Abstract]  
Deferred Revenue and Commissions Deferred Revenue and Commissions
Deferred Commissions
Deferred commissions consist of incremental costs paid to our sales force to obtain customer contracts.
Changes in total deferred commissions during the periods presented are as follows (in thousands):
First Quarter of Fiscal
20252026
Beginning balance
$304,332 $328,620 
Additions29,625 45,927 
Recognition of deferred commissions(37,331)(42,270)
Ending balance$296,626 $332,277 
Of the $332.3 million total deferred commissions balance at the end of the first quarter of fiscal 2026, we expect to recognize approximately 30% as sales commission expense over the next 12 months and the remainder thereafter.
There was no impairment related to capitalized commissions for the first quarter of fiscal 2025 and 2026.
Deferred Revenue
Deferred revenue primarily consists of amounts that have been invoiced but have not yet been recognized as revenue including performance obligations pertaining to subscription services.
Changes in total deferred revenue during the periods presented are as follows (in thousands):
First Quarter of Fiscal
20252026
Beginning balance
$1,594,522 $1,795,303 
Additions341,789 427,687 
Recognition of deferred revenue(334,835)(395,445)
Ending balance$1,601,476 $1,827,545 
Revenue recognized during the first quarter of fiscal 2025 and 2026 from deferred revenue at the beginning of each respective period was $293.9 million and $340.8 million.
Remaining Performance Obligations
Total remaining performance obligations (RPO) which is contracted but not recognized revenue was $2.7 billion at the end of the first quarter of fiscal 2026. Total RPO includes $55.7 million in remaining non-cancelable product orders, of which $43.1 million relates to a lessor arrangement. 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 $2.7 billion RPO at the end of the first quarter of fiscal 2026, we expect to recognize approximately 48% over the next 12 months, and the remainder thereafter.
v3.25.1
Debt
 3 Months Ended
May 04, 2025
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 (Existing Credit Facility). Proceeds from the Existing Credit Facility may be used for general corporate purposes and working capital. The Existing Credit Facility expires, absent default or termination by us, on August 24, 2025.
The annual interest rates applicable to loans under the Existing Credit Facility are, at our option, equal to either a base rate plus a margin ranging from 0.50% to 1.25% or term Secured Overnight Financing Rate (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.
We had $100.0 million outstanding under the Existing Credit Facility at the end of the first quarter of fiscal 2026. The outstanding borrowing bore weighted-average interest at an annual rate of approximately 6.83% and 5.82% during the first quarter of fiscal 2025 and 2026 based on a one-month term SOFR period. Interest expense was not material for the first quarter of fiscal 2025 and 2026.
Borrowings under the Existing Credit Facility are collateralized by substantially all of our assets and subject to certain restrictions and two financial ratios measured as of the last day of each fiscal quarter: a consolidated leverage ratio not to exceed 4.5:1 and an interest coverage ratio not to be less than 3:1. We were in compliance with all covenants under the Existing Credit Facility at the end of the first quarter of fiscal 2026.
v3.25.1
Commitments and Contingencies
 3 Months Ended
May 04, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Leases
At the end of the first quarter of fiscal 2026, we had various non-cancelable operating and finance lease commitments for office and data center facilities. Refer to Note 8—Leases for additional information regarding lease commitments.
Letters of Credit
At the end of fiscal 2025 and the first quarter of fiscal 2026, we had outstanding letters of credit in the aggregate amount of $7.2 million and $13.5 million in connection with our facility leases and a certain employee-related benefit. The letters of credit associated with our facility leases are collateralized by either restricted cash or the Credit Facility and mature on various dates through September 2030. The letter of credit associated with the certain employee-related benefit is collateralized by restricted cash.
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 in our condensed consolidated balance sheet as of the end of the first quarter of fiscal 2026.
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.
v3.25.1
Leases
 3 Months Ended
May 04, 2025
Leases [Abstract]  
Leases Leases
We lease office and data center 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.
We also lease certain engineering test equipment under financing agreements. These finance leases have a lease term of three to five years and contain a bargain purchase option that we have exercised or expect to exercise at the end of the respective lease terms.
The components of lease costs during the periods presented were as follows (in thousands):
First Quarter of Fiscal
20252026
Fixed operating lease cost$10,989 $12,867 
Variable lease cost (1)
3,592 2,033 
Short-term lease cost (12 months or less)897 1,126 
Finance lease cost:
Amortization of finance lease right-of-use assets1,100 531 
Interest on finance lease liabilities63 11 
Total finance lease cost$1,163 $542 
Total lease cost$16,641 $16,568 
____________________________________
(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 2025
First Quarter of Fiscal 2026
Operating leases:
Weighted-average remaining lease term (in years)4.94.7
Weighted-average discount rate7.4 %7.4 %
Finance leases:
Finance lease right-of-use assets, net (1)
$5,555$5,377
Finance lease liabilities, current (2)
$387$297
Finance lease liabilities, non-current (3)
—788
Total finance lease liabilities$387$1,085
Weighted-average remaining lease term (in years)1.04.7
Weighted-average discount rate3.3 %5.8 %
____________________________________
(1) Included in the condensed consolidated balance sheets within property and equipment, net.
(2) Included in the condensed consolidated balance sheets within accrued expenses and other liabilities.
(3) Included in the condensed consolidated balance sheets within other liabilities, non-current.
Supplemental cash flow information related to leases is as follows (in thousands):
First Quarter of Fiscal
20252026
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows for operating leases$9,169 $16,369 
Financing cash outflows for finance leases$802 $1,046 
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases$7,885 $1,473 
Finance leases$— $1,306 
Future lease payments under our non-cancelable leases at the end of the first quarter of fiscal 2026 are as follows (in thousands):
Fiscal Years EndingOperating LeasesFinance Leases
Remainder of 2026$40,882 $64 
202737,671 293 
202840,038 293 
202932,249 293 
203028,920 293 
Thereafter24,775 — 
Total future lease payments204,535 1,236 
Less: imputed interest(33,534)(151)
Present value of total lease liabilities$171,001 $1,085 
Lessor Arrangement
We, as a lessor, have entered into non-cancelable arrangements to lease our data storage solutions and subscription services. The arrangements include multiple seven-year leases that either commenced during fiscal 2025 or will commence in fiscal 2026 with total net consideration of $217.5 million. The arrangements provide an end-of-term option to purchase the leased assets for a pre-determined price.
We determined, at inception of the respective arrangements, that each of the leases include sales-type leases, an operating lease, and non-lease components. The non-lease components are comprised of subscription support services and professional services. 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.
We recognized $7.2 million in product revenue related to a sales-type lease component during the first quarter of fiscal 2025. The associated profit was $5.3 million based on the product revenue recognized less certain costs, during the first quarter of fiscal 2025. No product revenue was recognized during the first quarter of fiscal 2026. Subscription services revenue related to the operating lease and non-lease components recognized during the first quarter of fiscal 2025 and 2026 was not material and $7.2 million.
Future minimum gross lease payments for the leases that have commenced allocated to the sales-type leases and operating lease components are as follows (in thousands). The remaining lease payments of $95.7 million allocated to the non-lease components, are excluded from the table below.
Fiscal Years Ending
Sales-Type Leases
Operating Lease
The remainder of 2026$7,993 $4,095 
20278,990 4,749 
202811,434 2,304 
202913,738 — 
203013,738 — 
Thereafter20,985 — 
Total future lease payments to be received
$76,878 $11,148 
v3.25.1
Restructuring and Impairment
 3 Months Ended
May 04, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Impairment Restructuring and Impairment
Workforce Realignment
In February 2024, we initiated a workforce realignment plan (the Plan) to better align our resources with our business strategy that reduced our headcount by nearly 250 employees globally. We recognized total restructuring costs of $27.9 million associated with one-time severance and other termination benefits, of which $9.9 million was recognized in the first quarter of fiscal 2025. The restructuring costs recognized in the first quarter of fiscal 2025 included $0.4 million in cost of revenue in our condensed consolidated statement of operations. The Plan was completed by the third quarter of fiscal 2025.
Facilities Abandonment and Impairment
During the first quarter of fiscal 2025, we recognized $6.4 million in incremental abandonment and impairment charges related to certain leases associated with our former corporate headquarters that we ceased use during the second quarter of fiscal 2024. The incremental impairment charge represents the amount that the carrying value of the underlying asset exceeded its estimated fair value, which was determined by utilizing a discounted cash flow approach that incorporated revised sublease assumptions.
v3.25.1
Stockholders' Equity
 3 Months Ended
May 04, 2025
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
Preferred Stock
We have 20.0 million authorized shares of undesignated preferred stock, the rights, preferences and privileges of which may be designated from time to time by our Board of Directors. At the end of the first quarter of fiscal 2026, there were no shares of preferred stock issued or outstanding.
Class A and Class B Common Stock
We have two classes of authorized common stock, Class A common stock, which we refer to as our “common stock”, and Class B common stock. At the end of the first quarter of fiscal 2026, we had 2.0 billion authorized shares of Class A common stock and 250.0 million authorized shares of Class B common stock, with each class having a par value of $0.0001 per share. At the end of the first quarter of fiscal 2026, 326.9 million shares of Class A common stock were issued and outstanding.
Share Repurchase Program
In February 2025, our Board of Directors authorized a $250.0 million increase to the share repurchase program, bringing the total remaining authorization for future share repurchases to $271.5 million. During the first quarter of fiscal 2026, we repurchased and retired approximately 2.5 million shares of our common stock at an average purchase price of $48.10 per share for an aggregate repurchase price of $119.9 million. At the end of the first quarter of fiscal 2026, $151.6 million remained available for future share repurchases under our current repurchase authorization.
v3.25.1
Equity Incentive Plans
 3 Months Ended
May 04, 2025
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 to four year period and expire no later than ten years from the date of grant.
Upon vesting of equity awards, approximately 0.3 million shares and 1.2 million shares were withheld to cover $12.5 million and $60.1 million in tax withholding obligations during the first quarter of fiscal 2025 and 2026. 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. No ESPP reset occurred during the first quarter of fiscal 2025 and 2026.
Stock-based compensation expense related to our 2015 ESPP was $8.0 million and $7.5 million during the first quarter of fiscal 2025 and 2026. At the end of the first quarter of fiscal 2026, total unrecognized stock-based compensation cost related to our 2015 ESPP was $45.1 million, which is expected to be recognized over a weighted-average period of 1.8 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
Shares		Weighted-
Average
Exercise Price
Weighted-
Average
Remaining
Contractual Life (in years)
Aggregate
Intrinsic
Value (in thousands)
Balance at the end of fiscal 20252,426,214 $14.07 2.0$130,798 
Options exercised(348,395)15.39   
Balance at the end of the first quarter of fiscal 2026
2,077,819 $13.85 2.0$71,090 
Vested and exercisable at the end of the first quarter of fiscal 2026
2,077,819 $13.85 2.0$71,090 
 
The aggregate intrinsic value of options vested and exercisable at the end of the first quarter of fiscal 2026 is calculated based on the difference between the exercise price and the closing price of $47.84 of our common stock on the last day of the first quarter of fiscal 2026.
Stock-based compensation expense related to stock options was fully recognized in fiscal 2025 and was not material during the first quarter of fiscal 2025.
Restricted Stock Units (RSUs)
A summary of the RSU activity under our 2015 Plan and related information is as follows:
 
Number of
RSUs Outstanding
Weighted-
Average
Grant Date
Fair Value		Aggregate
Intrinsic
Value (in thousands)
Unvested balance at the end of fiscal 202519,299,290 $37.20 $1,308,299 
Granted
7,651,932 42.35 
Vested(2,476,486)31.65 
Forfeited(531,373)39.56 
Unvested balance at the end of the first quarter of fiscal 2026
23,943,363 $39.37 $1,145,450 
Stock-based compensation expense related to RSUs was $67.7 million and $77.2 million during the first quarter of fiscal 2025 and 2026. At the end of the first quarter of fiscal 2026, total unrecognized stock-based compensation cost related to unvested RSUs was $891.4 million, which is expected to be recognized over a weighted-average period of 3.0 years.
Performance-based Restricted Stock Units (PRSUs)
The number of shares that could be earned under our PRSU grants ranges from 0% to 200% of the target number granted depending on the achievement of certain performance conditions with any unearned shares canceled. Generally, 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 2015 Plan and related information is as follows:
Number of
PRSUs Outstanding
Weighted-
Average
Grant Date
Fair Value		Aggregate
Intrinsic
Value (in thousands)
Unvested balance at the end of fiscal 2025
1,849,045 $41.34 $125,347 
Vested and earned (1)
(500,649)39.59 
Unearned (2)
(284,928)49.46 
Unvested balance at the end of the first quarter of fiscal 2026
1,063,468 $39.98 $50,876 
____________________________________
(1) Represents the number of shares earned in which the service condition has also been satisfied.
(2) Represents the number of shares canceled as a result of not fully achieving the fiscal 2025 performance conditions.
Stock-based compensation expense related to PRSUs was $33.5 million and $8.0 million during the first quarter of fiscal 2025 and 2026. At the end of the first quarter of fiscal 2026, total unrecognized stock-based compensation cost related to unvested PRSUs was $16.2 million, which is expected to be recognized over a weighted-average period of 1.7 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 $38.2 million was recognized through the first quarter of fiscal 2026. We recognized $28.7 million and $1.6 million in stock-based compensation expense related to this modification in the first quarter of fiscal 2025 and 2026.
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 $21.0 billion that will be measured over an approximate three to five year period, at the end of our fiscal years ending in 2026, 2027 and 2028.
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 3.9 million in remaining unvested and outstanding LTP Awards with an aggregate intrinsic value of $188.8 million at the end of the first quarter of fiscal 2026. Stock-based compensation expense related to LTP Awards was $3.6 million during both the first quarter of fiscal 2025 and 2026. At the end of the first quarter of fiscal 2026, total unrecognized stock-based compensation cost related to unvested LTP Awards was $41.7 million, which is expected to be recognized over a weighted-average period of 2.9 years.
Stock-Based Compensation Expense
The following table summarizes the components of stock-based compensation expense recognized in the condensed consolidated statements of operations (in thousands):
 
 
First Quarter of Fiscal
 20252026
Cost of revenue—product$2,782 $3,266 
Cost of revenue—subscription services8,871 7,162 
Research and development
50,294 49,242 
Sales and marketing23,519 22,084 
General and administrative27,528 14,521 
Total stock-based compensation expense, net of amounts capitalized (1)
$112,994 $96,275 
_________________________________
(1) Stock-based compensation expense capitalized was $1.6 million and $1.9 million during the first quarter of fiscal 2025 and 2026.
The tax benefit related to stock-based compensation expense for all periods presented was not material.
v3.25.1
Net Loss per Share Attributable to Common Stockholders
 3 Months Ended
May 04, 2025
Earnings Per Share [Abstract]  
Net Loss per Share Attributable to Common Stockholders Net Loss per Share Attributable to Common Stockholders
Basic and diluted net loss per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. Basic net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase. Diluted net loss per share attributable to common stockholders is computed by giving effect to all potentially dilutive common stock equivalents, including our outstanding stock options, common stock related to unvested RSUs, PRSUs, and LTP Awards, and common stock issuable pursuant to the ESPP. In periods of net loss, all potentially dilutive common stock equivalents have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is anti-dilutive.
The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):
 
First Quarter of Fiscal
 20252026
Net loss$(35,009)$(13,995)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted322,589 326,539 
Net loss per share attributable to common stockholders, basic and diluted$(0.11)$(0.04)
The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive (in thousands):
 
 
First Quarter of Fiscal
 20252026
Stock options to purchase common stock3,883 2,257 
Unvested RSUs, PRSUs and LTP Awards
25,516 20,691 
Shares issuable pursuant to the ESPP775 464 
Total30,174 23,412 
v3.25.1
Other Income (Expense), Net
 3 Months Ended
May 04, 2025
Other Income and Expenses [Abstract]  
Other Income (Expense), Net Other Income (Expense), Net
Other income (expense), net consists of the following (in thousands):
First Quarter of Fiscal
20252026
Interest income (1)
$18,190 $16,876 
Interest expense (2)
(2,012)(1,807)
Foreign currency transactions gains (losses)
(2,092)14,479 
Other income
5 2,107 
Total other income (expense), net$14,091 $31,655 
____________________________________
(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.
v3.25.1
Income Taxes
 3 Months Ended
May 04, 2025
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 income (loss) before provision for income taxes and the income tax provision recorded was primarily attributable to our valuation allowance on U.S. deferred tax assets, research and development credits, U.S. taxes on foreign income, stock-based compensation expense and state taxes driven by Internal Revenue Code Section 174.
At the end of the first quarter of fiscal 2026, there were no material changes to either the nature or the amounts of the uncertain tax positions previously determined for fiscal 2025.
v3.25.1
Segment Information and Geographic Areas
 3 Months Ended
May 04, 2025
Segment Reporting [Abstract]  
Segment Information and Geographic Areas Segment Information and Geographic Areas
Segment Information
Our chief operating decision maker (CODM), the Chief Executive Officer, manages business activities as a single operating and reportable segment at the consolidated level. The CODM reviews and utilizes consolidated financial information, including revenue, gross profit, operating loss and net loss as reported on the condensed consolidated statements of operations, to assess performance and allocate resources to support strategic priorities. Condensed consolidated net loss is our segment’s primary measure of profit or loss. The measure of segment assets is reported on the condensed consolidated balance sheets as total consolidated assets.
Our CODM reviews the following significant segment expenses, which are each separately disclosed and presented in the condensed consolidated statements of operations: cost of revenue for product, cost of revenue for subscription services, research and development expenses, sales and marketing expenses, and general and administrative expenses. Other segment items within condensed consolidated net loss include restructuring and impairment expenses, other income (expense), net and income tax provision. Other significant noncash segment expenses include stock-based compensation and depreciation and amortization.
Disaggregation of Revenue
The following table depicts the disaggregation of revenue by geographic area based on the billing address of our customers and is consistent with how we evaluate our financial performance (in thousands):
 
First Quarter of Fiscal
 20252026
United States$489,019 $530,658 
Rest of the world204,460 247,827 
Total revenue$693,479 $778,485 

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 2025
First Quarter of Fiscal 2026
United States$448,035 $490,773 
Rest of the world13,696 12,754 
Total long-lived assets$461,731 $503,527 
v3.25.1
Subsequent Events
 3 Months Ended
May 04, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Event
In June 2025, we entered into a Credit Agreement with a consortium of financial institutions and lenders that provides for a five-year, senior unsecured revolving credit facility of $500.0 million (2025 Credit Facility). Proceeds from borrowings under the 2025 Credit Facility may be used for general corporate purposes and working capital. Our Existing Credit Facility was terminated effective June 10, 2025 and outstanding borrowings of $100.0 million were repaid.
The annual interest rates applicable to U.S. Dollar denominated loans under the 2025 Credit Facility are, at our option, equal to either the term SOFR or the daily simple SOFR, in each case, plus a margin initially set at 0.875% per annum. In addition, we will incur a commitment fee on the unused portion of the commitments at an initial rate of 0.075% per annum. The respective margins will fluctuate based on the then-applicable Consolidated Net Leverage Ratio (as defined in the Credit Agreement) and our debt rating.
We are subject to certain affirmative and negative covenants under the 2025 Credit Facility, including a Consolidated Net Leverage Ratio not to exceed 3.5:1 (which may be increased to 4:1 for the first six consecutive fiscal quarters after a qualified acquisition, as defined in the 2025 Credit Agreement) measured as of the last day of each fiscal quarter, commencing with the fiscal quarter ending August 3, 2025.
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
May 04, 2025
May 05, 2024
Pay vs Performance Disclosure    
Net loss $ (13,995) $ (35,009)
v3.25.1
Insider Trading Arrangements
 3 Months Ended
May 04, 2025
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
v3.25.1
Basis of Presentation and Summary of Significant Accounting Policies (Policies)
 3 Months Ended
May 04, 2025
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 2025 was February 2, 2025 and for fiscal 2026 will be February 1, 2026. The first quarter of fiscal 2025 and 2026 ended on May 5, 2024 and May 4, 2025. 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 2025.
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 2026 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, fair value for certain stock-based awards, provision for income taxes including related reserves, fair value of leases and impairment of related right-of-use (ROU) assets. Management bases its estimates on historical experience and on various other assumptions which management believes to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.
Restricted Cash
Restricted Cash
Restricted cash is associated with our letters of credit for leases and certain employee-related benefits.
Recent Accounting Pronouncements Not Yet Adopted
Recent Accounting Pronouncements Not Yet Adopted
In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (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.
In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires additional disclosures of specific expense categories included within each expense caption presented on the Statements of Operations. The new standard can be applied on either a fully retrospective or prospective basis. ASU 2024-03 will be effective for our fiscal year beginning February 1, 2027, and interim periods within our fiscal year beginning February 7, 2028, with early adoption permitted. We are currently evaluating the impact of this new 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.
v3.25.1
Financial Instruments (Tables)
 3 Months Ended
May 04, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash Equivalents, Marketable Securities and Restricted Cash
The following tables summarize our assets that were measured at fair value on a recurring basis by significant investment categories and their classification within the fair value hierarchy and in our condensed consolidated balance sheets at the end of fiscal 2025 and the first quarter of fiscal 2026 (in thousands):
 At the End of Fiscal 2025
 Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Cash
Equivalents
Marketable
Securities
Restricted
Cash
Level 1      
Money market accounts$— $— $— $264,067 $258,750 $— $5,317 
Level 2      
U.S. government treasury notes360,578 735 (146)361,167 27,663 333,504 — 
U.S. government agencies1,400 — — 1,400 — 1,400 — 
Corporate debt securities395,532 1,903 (55)397,380 — 397,380 — 
Foreign government bonds700 3 — 703 — 703 — 
Asset-backed securities64,926 331 (7)65,250 — 65,250 — 
Total$823,136 $2,972 $(208)$1,089,967 $286,413 $798,237 $5,317 

 
At the End of the First Quarter of Fiscal 2026
 
Cost or Amortized
Cost
Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Cash
Equivalents
Marketable
Securities
Restricted
Cash
Prepaid Expenses and Other Current Assets
Level 1
Money market accounts$— $— $— $202,151 $190,686 $— $11,465 $— 
Equity securities (1)
24,999 2,435 — 27,434 — — — 27,434 
Level 2       
U.S. government treasury notes343,608 1,132 (75)344,665 1,558 343,107 — — 
Corporate debt securities423,887 2,307 (47)426,147 — 426,147 — — 
Foreign government bonds700 2 — 702 — 702 — — 
Asset-backed securities69,470 332 (10)69,792 — 69,792 — — 
Total$862,664 $6,208 $(132)$1,070,891 $192,244 $839,748 $11,465 $27,434 
_________________________________
(1) Subject to short-term lock-up restrictions.
Schedule of Amortized Cost and Estimated Fair Value
The amortized cost and estimated fair value of our marketable securities are shown below by contractual maturity (in thousands):
 
At the End of the First Quarter of Fiscal 2026
 Amortized CostFair Value
Due within one year$319,474 $320,003 
Due in one to five years514,133 517,239 
Due in five to ten years2,500 2,506 
Total$836,107 $839,748 
Schedule of Gross Unrealized Losses and Fair Values The following table presents the fair values and gross unrealized losses for those investments that were in a continuous unrealized loss position at the end of fiscal 2025 and the first quarter of fiscal 2026, aggregated by investment category (in thousands):
At the End of Fiscal 2025
Less than 12 monthsGreater than 12 monthsTotal
Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
U.S. government treasury notes$99,397 $(146)$— $— $99,397 $(146)
Corporate debt securities33,619 (55)1,998 — 35,617 (55)
Asset-backed securities10,702 (7)30 — 10,732 (7)
Total$143,718 $(208)$2,028 $— $145,746 $(208)

At the End of the First Quarter of Fiscal 2026
 Less than 12 months
 Fair
Value		Unrealized
Loss
U.S. government treasury notes$98,847 $(75)
Corporate debt securities36,214 (47)
Asset-backed securities11,003 (10)
Total$146,064 $(132)
v3.25.1
Balance Sheet Components (Tables)
 3 Months Ended
May 04, 2025
Balance Sheet Components Disclosure [Abstract]  
Schedule of Inventory
Inventory consists of the following (in thousands):
At the End of
Fiscal 2025
First Quarter of Fiscal 2026
Raw materials$9,616 $7,301 
Finished goods33,194 30,247 
Inventory$42,810 $37,548 
Schedule of Property and Equipment, Net
Property and equipment, net consists of the following (in thousands):
 
At the End of
 Fiscal 2025
First Quarter of Fiscal 2026
Test and infrastructure equipment (1)
$457,033 $461,934 
Computer equipment and software393,623 416,446 
Furniture and fixtures13,948 14,203 
Leasehold improvements102,002 103,456 
Capitalized software development costs65,824 73,135 
Total property and equipment1,032,430 1,069,174 
Less: accumulated depreciation and amortization(570,699)(565,647)
Property and equipment, net$461,731 $503,527 
_________________________________
(1) Includes finance lease right-of-use assets. Refer to Note 8.
Schedule of Intangible Assets, Net
Intangible assets, net consist of the following (in thousands):
 
At the End of
 Fiscal 2025
First Quarter of Fiscal 2026
Gross Carrying ValueAccumulated AmortizationNet Carrying AmountGross Carrying ValueAccumulated AmortizationNet Carrying Amount
Technology patents$20,875 $(17,652)$3,223 $20,875 $(18,082)$2,793 
Developed technology83,211 (69,812)13,399 83,211 (73,118)10,093 
Customer relationships6,459 (4,007)2,452 6,459 (4,237)2,222 
Intangible assets, net$110,545 $(91,471)$19,074 $110,545 $(95,437)$15,108 
Schedule of Expected Amortization Expenses for Intangible Assets
At the end of the first quarter of fiscal 2026, future expected amortization expense for intangible assets is as follows (in thousands):
Fiscal Years EndingEstimated Future
Amortization Expense
Remainder of 2026$9,301 
20273,543 
20281,498 
2029604 
2030162 
Total$15,108 
Schedule of Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consist of the following (in thousands):
At the End of
 Fiscal 2025
First Quarter of Fiscal 2026
Taxes payable $16,176 $10,976 
Accrued marketing26,619 24,344 
Engineering-related accruals (1)
12,802 6,471 
Supply chain-related accruals (2)
19,927 29,005 
Accrued service logistics and professional services10,286 12,353 
Finance lease liabilities, current387 297 
Customer deposits from contracts with customers31,143 30,249 
Other accrued liabilities39,451 44,038 
Total accrued expenses and other liabilities$156,791 $157,733 
_________________________________
(1) Primarily consists of subscription cloud services and outside services costs.
(2) Primarily consists of accruals related to our inventory and inventory purchase commitments with our contract manufacturers.
v3.25.1
Deferred Revenue and Commissions (Tables)
 3 Months Ended
May 04, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Deferred Commissions
Changes in total deferred commissions during the periods presented are as follows (in thousands):
First Quarter of Fiscal
20252026
Beginning balance
$304,332 $328,620 
Additions29,625 45,927 
Recognition of deferred commissions(37,331)(42,270)
Ending balance$296,626 $332,277 
Schedule of Deferred Revenue
Changes in total deferred revenue during the periods presented are as follows (in thousands):
First Quarter of Fiscal
20252026
Beginning balance
$1,594,522 $1,795,303 
Additions341,789 427,687 
Recognition of deferred revenue(334,835)(395,445)
Ending balance$1,601,476 $1,827,545 
v3.25.1
Leases (Tables)
 3 Months Ended
May 04, 2025
Leases [Abstract]  
Schedule of Components of Lease Cost
The components of lease costs during the periods presented were as follows (in thousands):
First Quarter of Fiscal
20252026
Fixed operating lease cost$10,989 $12,867 
Variable lease cost (1)
3,592 2,033 
Short-term lease cost (12 months or less)897 1,126 
Finance lease cost:
Amortization of finance lease right-of-use assets1,100 531 
Interest on finance lease liabilities63 11 
Total finance lease cost$1,163 $542 
Total lease cost$16,641 $16,568 
____________________________________
(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 2025
First Quarter of Fiscal 2026
Operating leases:
Weighted-average remaining lease term (in years)4.94.7
Weighted-average discount rate7.4 %7.4 %
Finance leases:
Finance lease right-of-use assets, net (1)
$5,555$5,377
Finance lease liabilities, current (2)
$387$297
Finance lease liabilities, non-current (3)
—788
Total finance lease liabilities$387$1,085
Weighted-average remaining lease term (in years)1.04.7
Weighted-average discount rate3.3 %5.8 %
____________________________________
(1) Included in the condensed consolidated balance sheets within property and equipment, net.
(2) Included in the condensed consolidated balance sheets within accrued expenses and other liabilities.
(3) Included in the condensed consolidated balance sheets within other liabilities, non-current.
Schedule of Cash Flow, Supplemental Disclosures
Supplemental cash flow information related to leases is as follows (in thousands):
First Quarter of Fiscal
20252026
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows for operating leases$9,169 $16,369 
Financing cash outflows for finance leases$802 $1,046 
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases$7,885 $1,473 
Finance leases$— $1,306 
Schedule of Future Lease Payments Under Non-Cancelable Leases
Future lease payments under our non-cancelable leases at the end of the first quarter of fiscal 2026 are as follows (in thousands):
Fiscal Years EndingOperating LeasesFinance Leases
Remainder of 2026$40,882 $64 
202737,671 293 
202840,038 293 
202932,249 293 
203028,920 293 
Thereafter24,775 — 
Total future lease payments204,535 1,236 
Less: imputed interest(33,534)(151)
Present value of total lease liabilities$171,001 $1,085 
Schedule of Sales-Type Leases, Payment to be Received, Maturity
Future minimum gross lease payments for the leases that have commenced allocated to the sales-type leases and operating lease components are as follows (in thousands). The remaining lease payments of $95.7 million allocated to the non-lease components, are excluded from the table below.
Fiscal Years Ending
Sales-Type Leases
Operating Lease
The remainder of 2026$7,993 $4,095 
20278,990 4,749 
202811,434 2,304 
202913,738 — 
203013,738 — 
Thereafter20,985 — 
Total future lease payments to be received
$76,878 $11,148 
Schedule of Lessor, Operating Lease, Payment to be Received, Maturity
Future minimum gross lease payments for the leases that have commenced allocated to the sales-type leases and operating lease components are as follows (in thousands). The remaining lease payments of $95.7 million allocated to the non-lease components, are excluded from the table below.
Fiscal Years Ending
Sales-Type Leases
Operating Lease
The remainder of 2026$7,993 $4,095 
20278,990 4,749 
202811,434 2,304 
202913,738 — 
203013,738 — 
Thereafter20,985 — 
Total future lease payments to be received
$76,878 $11,148 
v3.25.1
Equity Incentive Plans (Tables)
 3 Months Ended
May 04, 2025
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
Shares		Weighted-
Average
Exercise Price
Weighted-
Average
Remaining
Contractual Life (in years)
Aggregate
Intrinsic
Value (in thousands)
Balance at the end of fiscal 20252,426,214 $14.07 2.0$130,798 
Options exercised(348,395)15.39   
Balance at the end of the first quarter of fiscal 2026
2,077,819 $13.85 2.0$71,090 
Vested and exercisable at the end of the first quarter of fiscal 2026
2,077,819 $13.85 2.0$71,090 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of the RSU activity under our 2015 Plan and related information is as follows:
 
Number of
RSUs Outstanding
Weighted-
Average
Grant Date
Fair Value		Aggregate
Intrinsic
Value (in thousands)
Unvested balance at the end of fiscal 202519,299,290 $37.20 $1,308,299 
Granted
7,651,932 42.35 
Vested(2,476,486)31.65 
Forfeited(531,373)39.56 
Unvested balance at the end of the first quarter of fiscal 2026
23,943,363 $39.37 $1,145,450 
Schedule of Share-Based Payment Arrangement, Performance Restricted Stock Unit, Activity
A summary of the PRSU activity under our 2015 Plan and related information is as follows:
Number of
PRSUs Outstanding
Weighted-
Average
Grant Date
Fair Value		Aggregate
Intrinsic
Value (in thousands)
Unvested balance at the end of fiscal 2025
1,849,045 $41.34 $125,347 
Vested and earned (1)
(500,649)39.59 
Unearned (2)
(284,928)49.46 
Unvested balance at the end of the first quarter of fiscal 2026
1,063,468 $39.98 $50,876 
____________________________________
(1) Represents the number of shares earned in which the service condition has also been satisfied.
(2) Represents the number of shares canceled as a result of not fully achieving the fiscal 2025 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):
 
 
First Quarter of Fiscal
 20252026
Cost of revenue—product$2,782 $3,266 
Cost of revenue—subscription services8,871 7,162 
Research and development
50,294 49,242 
Sales and marketing23,519 22,084 
General and administrative27,528 14,521 
Total stock-based compensation expense, net of amounts capitalized (1)
$112,994 $96,275 
_________________________________
(1) Stock-based compensation expense capitalized was $1.6 million and $1.9 million during the first quarter of fiscal 2025 and 2026.
v3.25.1
Net Loss per Share Attributable to Common Stockholders (Tables)
 3 Months Ended
May 04, 2025
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 loss per share attributable to common stockholders (in thousands, except per share data):
 
First Quarter of Fiscal
 20252026
Net loss$(35,009)$(13,995)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted322,589 326,539 
Net loss per share attributable to common stockholders, basic and diluted$(0.11)$(0.04)
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 loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive (in thousands):
 
 
First Quarter of Fiscal
 20252026
Stock options to purchase common stock3,883 2,257 
Unvested RSUs, PRSUs and LTP Awards
25,516 20,691 
Shares issuable pursuant to the ESPP775 464 
Total30,174 23,412 
v3.25.1
Other Income (Expense), Net (Tables)
 3 Months Ended
May 04, 2025
Other Income and Expenses [Abstract]  
Schedule of Other Income (Expense)
Other income (expense), net consists of the following (in thousands):
First Quarter of Fiscal
20252026
Interest income (1)
$18,190 $16,876 
Interest expense (2)
(2,012)(1,807)
Foreign currency transactions gains (losses)
(2,092)14,479 
Other income
5 2,107 
Total other income (expense), net$14,091 $31,655 
____________________________________
(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.
v3.25.1
Segment Information and Geographic Areas (Tables)
 3 Months Ended
May 04, 2025
Segment Reporting [Abstract]  
Schedule of Revenue by Geographic Area
The following table depicts the disaggregation of revenue by geographic area based on the billing address of our customers and is consistent with how we evaluate our financial performance (in thousands):
 
First Quarter of Fiscal
 20252026
United States$489,019 $530,658 
Rest of the world204,460 247,827 
Total revenue$693,479 $778,485 
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 2025
First Quarter of Fiscal 2026
United States$448,035 $490,773 
Rest of the world13,696 12,754 
Total long-lived assets$461,731 $503,527 
v3.25.1
Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($)
$ in Millions
May 04, 2025
Feb. 02, 2025
Accounting Policies [Abstract]    
Restricted cash $ 20.8 $ 14.2
Restricted cash included in prepaid expenses and other current assets $ 1.8 $ 1.6
v3.25.1
Financial Instruments - Cash Equivalents, Marketable Securities and Restricted Cash (Details) - USD ($)
$ in Thousands
May 04, 2025
Feb. 02, 2025
Debt Securities, Available-for-Sale [Abstract]    
Amortized Cost $ 836,107  
Fair Value 839,748  
Cash Equivalents 192,244 $ 286,413
Marketable Securities 839,748 798,237
Restricted Cash 11,465 5,317
Prepaid Expenses and Other Current Assets 27,434  
Amortized Cost 862,664 823,136
Total gross unrealized gains 6,208 2,972
Total gross unrealized losses (132) (208)
Total fair value 1,070,891 1,089,967
Level 1 | Money market accounts    
Debt Securities, Available-for-Sale [Abstract]    
Fair Value 202,151 264,067
Cash Equivalents 190,686 258,750
Marketable Securities 0 0
Restricted Cash 11,465 5,317
Prepaid Expenses and Other Current Assets 0  
Level 1 | Equity securities    
Debt Securities, Available-for-Sale [Abstract]    
Cash Equivalents 0  
Restricted Cash 0  
Prepaid Expenses and Other Current Assets 27,434  
Equity Security [Abstract]    
Amortized Cost 24,999  
Gross Unrealized Gains 2,435  
Gross Unrealized Losses 0  
Fair Value 27,434  
Marketable Securities 0  
Level 2 | U.S. government treasury notes    
Debt Securities, Available-for-Sale [Abstract]    
Amortized Cost 343,608 360,578
Gross Unrealized Gains 1,132 735
Gross Unrealized Losses (75) (146)
Fair Value 344,665 361,167
Cash Equivalents 1,558 27,663
Marketable Securities 343,107 333,504
Restricted Cash 0 0
Prepaid Expenses and Other Current Assets 0  
Level 2 | U.S. government agencies    
Debt Securities, Available-for-Sale [Abstract]    
Amortized Cost   1,400
Gross Unrealized Gains   0
Gross Unrealized Losses   0
Fair Value   1,400
Cash Equivalents   0
Marketable Securities   1,400
Restricted Cash   0
Level 2 | Corporate debt securities    
Debt Securities, Available-for-Sale [Abstract]    
Amortized Cost 423,887 395,532
Gross Unrealized Gains 2,307 1,903
Gross Unrealized Losses (47) (55)
Fair Value 426,147 397,380
Cash Equivalents 0 0
Marketable Securities 426,147 397,380
Restricted Cash 0 0
Prepaid Expenses and Other Current Assets 0  
Level 2 | Foreign government bonds    
Debt Securities, Available-for-Sale [Abstract]    
Amortized Cost 700 700
Gross Unrealized Gains 2 3
Gross Unrealized Losses 0 0
Fair Value 702 703
Cash Equivalents 0 0
Marketable Securities 702 703
Restricted Cash 0 0
Prepaid Expenses and Other Current Assets 0  
Level 2 | Asset-backed securities    
Debt Securities, Available-for-Sale [Abstract]    
Amortized Cost 69,470 64,926
Gross Unrealized Gains 332 331
Gross Unrealized Losses (10) (7)
Fair Value 69,792 65,250
Cash Equivalents 0 0
Marketable Securities 69,792 65,250
Restricted Cash 0 $ 0
Prepaid Expenses and Other Current Assets $ 0  
v3.25.1
Financial Instruments - Amortized Cost and Estimated Fair Value (Details)
$ in Thousands
May 04, 2025
USD ($)
Amortized Cost  
Due within one year $ 319,474
Due in one to five years 514,133
Due in five to ten years 2,500
Amortized Cost 836,107
Fair Value  
Due within one year 320,003
Due in one to five years 517,239
Due in five to ten years 2,506
Fair Value $ 839,748
v3.25.1
Financial Instruments - Additional Information (Details) - USD ($)
 3 Months Ended
May 04, 2025
May 05, 2024
Feb. 02, 2025
Investments, Debt and Equity Securities [Abstract]      
Impairment charge for unrealized losses $ 0 $ 0  
Carrying amount of our strategic investments 11,700,000   $ 36,700,000
Defined contribution plan, plan liabilities, fair value $ 10,600,000   $ 8,400,000
v3.25.1
Financial Instruments - Gross Unrealized Losses and Fair Values (Details) - USD ($)
$ in Thousands
May 04, 2025
Feb. 02, 2025
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months $ 146,064 $ 143,718
Unrealized Loss, Less than 12 months (132) (208)
Fair Value, Greater than 12 months   2,028
Unrealized Loss, Greater than 12 months   0
Fair Value, Total   145,746
Unrealized Loss, Total   (208)
U.S. government treasury notes    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 98,847 99,397
Unrealized Loss, Less than 12 months (75) (146)
Fair Value, Greater than 12 months   0
Unrealized Loss, Greater than 12 months   0
Fair Value, Total   99,397
Unrealized Loss, Total   (146)
Corporate debt securities    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 36,214 33,619
Unrealized Loss, Less than 12 months (47) (55)
Fair Value, Greater than 12 months   1,998
Unrealized Loss, Greater than 12 months   0
Fair Value, Total   35,617
Unrealized Loss, Total   (55)
Asset-backed securities    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 11,003 10,702
Unrealized Loss, Less than 12 months $ (10) (7)
Fair Value, Greater than 12 months   30
Unrealized Loss, Greater than 12 months   0
Fair Value, Total   10,732
Unrealized Loss, Total   $ (7)
v3.25.1
Balance Sheet Components - Inventory (Details) - USD ($)
$ in Thousands
May 04, 2025
Feb. 02, 2025
Balance Sheet Components Disclosure [Abstract]    
Raw materials $ 7,301 $ 9,616
Finished goods 30,247 33,194
Inventory $ 37,548 $ 42,810
v3.25.1
Balance Sheet Components - Property and Equipment, Net (Details) - USD ($)
$ in Thousands
May 04, 2025
Feb. 02, 2025
Property Plant And Equipment [Line Items]    
Total property and equipment $ 1,069,174 $ 1,032,430
Less: accumulated depreciation and amortization (565,647) (570,699)
Property and equipment, net 503,527 461,731
Test and infrastructure equipment    
Property Plant And Equipment [Line Items]    
Total property and equipment 461,934 457,033
Computer equipment and software    
Property Plant And Equipment [Line Items]    
Total property and equipment 416,446 393,623
Furniture and fixtures    
Property Plant And Equipment [Line Items]    
Total property and equipment 14,203 13,948
Leasehold improvements    
Property Plant And Equipment [Line Items]    
Total property and equipment 103,456 102,002
Capitalized software development costs    
Property Plant And Equipment [Line Items]    
Total property and equipment $ 73,135 $ 65,824
v3.25.1
Balance Sheet Components - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
May 04, 2025
May 04, 2025
May 05, 2024
Finite-Lived Intangible Assets [Line Items]      
Depreciation and amortization   $ 30.3 $ 31.1
Intangible assets amortization expense   $ 4.0 $ 3.9
Technology patents      
Finite-Lived Intangible Assets [Line Items]      
Useful life (in years) 8 months 12 days    
Developed technology      
Finite-Lived Intangible Assets [Line Items]      
Useful life (in years) 9 months 18 days    
Customer relationships      
Finite-Lived Intangible Assets [Line Items]      
Useful life (in years) 2 years 4 months 24 days    
v3.25.1
Balance Sheet Components - Intangible Assets, Net (Details) - USD ($)
$ in Thousands
May 04, 2025
Feb. 02, 2025
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value $ 110,545 $ 110,545
Accumulated Amortization (95,437) (91,471)
Net Carrying Amount 15,108 19,074
Technology patents    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value 20,875 20,875
Accumulated Amortization (18,082) (17,652)
Net Carrying Amount 2,793 3,223
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value 83,211 83,211
Accumulated Amortization (73,118) (69,812)
Net Carrying Amount 10,093 13,399
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value 6,459 6,459
Accumulated Amortization (4,237) (4,007)
Net Carrying Amount $ 2,222 $ 2,452
v3.25.1
Balance Sheet Components - Expected Amortization Expenses for Intangible Assets (Details) - USD ($)
$ in Thousands
May 04, 2025
Feb. 02, 2025
Balance Sheet Components Disclosure [Abstract]    
Remainder of 2026 $ 9,301  
2027 3,543  
2028 1,498  
2029 604  
2030 162  
Net Carrying Amount $ 15,108 $ 19,074
v3.25.1
Balance Sheet Components - Goodwill (Details) - USD ($)
 3 Months Ended
May 04, 2025
May 05, 2024
Feb. 02, 2025
Balance Sheet Components Disclosure [Abstract]      
Goodwill $ 361,427,000   $ 361,427,000
Impairments to goodwill $ 0 $ 0  
v3.25.1
Balance Sheet Components - Accrued Expenses and Other Liabilities (Details) - USD ($)
$ in Thousands
May 04, 2025
Feb. 02, 2025
Balance Sheet Components Disclosure [Abstract]    
Taxes payable $ 10,976 $ 16,176
Accrued marketing 24,344 26,619
Engineering-related accruals 6,471 12,802
Supply chain-related accruals 29,005 19,927
Accrued service logistics and professional services 12,353 10,286
Finance lease liabilities, current 297 387
Customer deposits from contracts with customers 30,249 31,143
Other accrued liabilities 44,038 39,451
Total accrued expenses and other liabilities $ 157,733 $ 156,791
v3.25.1
Deferred Revenue and Commissions - Deferred Commissions (Details) - USD ($)
 3 Months Ended
May 04, 2025
May 05, 2024
Deferred Commissions [Roll Forward]    
Beginning balance $ 328,620,000 $ 304,332,000
Additions 45,927,000 29,625,000
Recognition of deferred commissions (42,270,000) (37,331,000)
Ending balance $ 332,277,000 296,626,000
Commission expected to be recognized over the next 12 months (percent) 30.00%  
Commission recognition period 12 months  
Impairment of capitalized commissions $ 0 $ 0
v3.25.1
Deferred Revenue and Commissions - Deferred Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 04, 2025
May 05, 2024
Contract Liability    
Additions $ 45,927 $ 29,625
Recognition of deferred revenue (42,270) (37,331)
Deferred revenue recognized 340,800 293,900
Product Revenue and Support Subscription Revenue    
Contract Liability    
Beginning balance 1,795,303 1,594,522
Additions 427,687 341,789
Recognition of deferred revenue (395,445) (334,835)
Ending balance $ 1,827,545 $ 1,601,476
v3.25.1
Deferred Revenue and Commissions - Remaining Performance Obligation (Details)
$ in Millions
May 04, 2025
USD ($)
Revenue from Contract with Customer [Abstract]  
Contracted but not recognized revenue $ 2,700.0
Non-cancelable product orders 55.7
Lessor arrangement $ 43.1
v3.25.1
Deferred Revenue and Commissions - Remaining Performance Obligation Period (Details)
May 04, 2025
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-05-05  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue expected to be recognized (as a percent) 48.00%
Revenue expected to be recognized term (in months) 12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-05-03  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue expected to be recognized term (in months)
v3.25.1
Debt - Narrative (Details) - Revolving Credit Facility
 3 Months Ended
Apr. 01, 2023
Aug. 24, 2020
USD ($)
financial_ratio
May 04, 2025
USD ($)
May 05, 2024
Debt Instrument [Line Items]        
Term of credit facility   5 years    
Senior secured revolving credit facility maximum capacity   $ 300,000,000    
Proceeds from borrowings     $ 100,000,000  
Interest during the period (percent)     5.82% 6.83%
Number of financial ratios | financial_ratio   2    
Consolidated leverage ratio, maximum     4.5  
Interest coverage ratio, minimum     3  
Minimum        
Debt Instrument [Line Items]        
Commitment fee (percent) 0.25%      
Maximum        
Debt Instrument [Line Items]        
Commitment fee (percent) 0.40%      
Base Rate | Minimum        
Debt Instrument [Line Items]        
Margin rate (percent) 0.50%      
Base Rate | Maximum        
Debt Instrument [Line Items]        
Margin rate (percent) 1.25%      
Secured Overnight Financing Rate | Minimum        
Debt Instrument [Line Items]        
Margin rate (percent) 1.50%      
Secured Overnight Financing Rate | Maximum        
Debt Instrument [Line Items]        
Margin rate (percent) 2.25%      
Secured Overnight Financing Rate | Interest Rate Floor        
Debt Instrument [Line Items]        
Effective interest rate (percent) 0.00%      
v3.25.1
Commitments and Contingencies (Details) - USD ($)
May 04, 2025
Feb. 02, 2025
Commitments and Contingencies Disclosure [Abstract]    
Outstanding letters of credit $ 13,500,000 $ 7,200,000
Loss contingency $ 0  
v3.25.1
Leases - Narrative (Details) - USD ($)
 3 Months Ended 15 Months Ended
May 04, 2025
May 05, 2024
May 04, 2025
Lessee, Lease, Description [Line Items]      
Lessor arrangement, term of contract     7 years
Non-cancelable lease payments receivable, net     $ 217,500,000
Sales-type lease, revenue $ 0 $ 7,200,000  
Sales-type lease, selling profit 0 5,300,000  
Subscription and non-lease components of service revenue $ 7,200,000 $ 0  
Minimum      
Lessee, Lease, Description [Line Items]      
Finance lease, term 3 years   3 years
Maximum      
Lessee, Lease, Description [Line Items]      
Finance lease, term 5 years   5 years
v3.25.1
Leases - Lease costs (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 04, 2025
May 05, 2024
Leases [Abstract]    
Fixed operating lease cost $ 12,867 $ 10,989
Variable lease cost 2,033 3,592
Short-term lease cost (12 months or less) 1,126 897
Amortization of finance lease right-of-use assets 531 1,100
Interest on finance lease liabilities 11 63
Total finance lease cost 542 1,163
Total lease cost $ 16,568 $ 16,641
v3.25.1
Leases - Lease term and discount rate (Details) - USD ($)
$ in Thousands
May 04, 2025
Feb. 02, 2025
Operating leases:    
Weighted-average remaining lease term (in years) 4 years 8 months 12 days 4 years 10 months 24 days
Weighted-average discount rate 7.40% 7.40%
Finance leases:    
Finance lease right-of-use assets, net $ 5,377 $ 5,555
Finance lease liabilities, current 297 387
Finance lease liabilities, non-current 788 0
Total finance lease liabilities $ 1,085 $ 387
Weighted-average remaining lease term (in years) 4 years 8 months 12 days 1 year
Weighted-average discount rate 5.80% 3.30%
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
v3.25.1
Leases - Supplemental cash flow information related to leases (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 04, 2025
May 05, 2024
Leases [Abstract]    
Operating cash outflows for operating leases $ 16,369 $ 9,169
Financing cash outflows for finance leases 1,046 802
Operating leases 1,473 7,885
Finance leases $ 1,306 $ 0
v3.25.1
Leases - Future lease payments (Details) - USD ($)
$ in Thousands
May 04, 2025
Feb. 02, 2025
Operating Leases    
Remainder of 2026 $ 40,882  
2027 37,671  
2028 40,038  
2029 32,249  
2030 28,920  
Thereafter 24,775  
Total future lease payments 204,535  
Less: imputed interest (33,534)  
Present value of total lease liabilities 171,001  
Finance Leases    
Remainder of 2026 64  
2027 293  
2028 293  
2029 293  
2030 293  
Thereafter 0  
Total future lease payments 1,236  
Less: imputed interest (151)  
Present value of total lease liabilities $ 1,085 $ 387
v3.25.1
Leases - Future minimum lease payments on lease receivables (Details)
$ in Thousands
May 04, 2025
USD ($)
Leases [Abstract]  
Non-lease components of remaining amount $ 95,700
Sales-Type Leases  
The remainder of 2026 7,993
2027 8,990
2028 11,434
2029 13,738
2030 13,738
Thereafter 20,985
Total future lease payments to be received 76,878
Operating Lease  
The remainder of 2026 4,095
2027 4,749
2028 2,304
2029 0
2030 0
Thereafter 0
Total future lease payments to be received $ 11,148
v3.25.1
Restructuring and Impairment (Details)
$ in Millions
 1 Months Ended 3 Months Ended
Feb. 29, 2024
USD ($)
employee
May 05, 2024
USD ($)
Ceased Use of Certain Leased Facilities    
Restructuring Cost and Reserve [Line Items]    
Lease abandonment charges   $ 6.4
Workplace Restructuring Plan    
Restructuring Cost and Reserve [Line Items]    
Number of employees impacted | employee 250  
Total restructuring cost $ 27.9  
Restructuring charges   0.4
Workplace Restructuring Plan | Employee Severance    
Restructuring Cost and Reserve [Line Items]    
Restructuring charges   $ 9.9
v3.25.1
Stockholders' Equity (Details)
$ / shares in Units, $ in Millions
 3 Months Ended
May 04, 2025
USD ($)
stock_class
$ / shares
shares
Feb. 28, 2025
USD ($)
Feb. 02, 2025
$ / shares
shares
Class of Stock [Line Items]      
Preferred stock, shares authorized (in shares) 20,000,000.0   20,000,000
Preferred stock, shares issued (in shares) 0   0
Preferred stock, shares outstanding (in shares) 0   0
Number of classes of stock | stock_class 2    
Common stock, shares authorized (in shares) 2,250,000,000   2,250,000,000
Authorized amount remaining under stock repurchase program | $ $ 151.6 $ 271.5  
Class A common stock      
Class of Stock [Line Items]      
Common stock, shares authorized (in shares) 2,000,000,000   2,000,000,000
Common stock, par value per share (in dollars per share) | $ / shares $ 0.0001   $ 0.0001
Common stock, shares issued (in shares) 326,938,000   326,102,000
Common stock, shares outstanding (in shares) 326,938,000   326,102,000
Class B common stock      
Class of Stock [Line Items]      
Common stock, shares authorized (in shares) 250,000,000.0   250,000,000
Common stock, par value per share (in dollars per share) | $ / shares $ 0.0001   $ 0.0001
Common Stock      
Class of Stock [Line Items]      
Stock repurchased and retired (in shares) 2,500,000    
Stock repurchased and retired, average cost (in dollars per share) | $ / shares $ 48.10    
Stock repurchased and retired, value | $ $ 119.9    
Common Stock | Board of Directors      
Class of Stock [Line Items]      
Additional value approved for repurchase | $   $ 250.0  
v3.25.1
Equity Incentive Plans - Narrative (Details)
 1 Months Ended 3 Months Ended 15 Months Ended
May 04, 2025
USD ($)
purchasePeriod
$ / shares
shares
Jun. 30, 2023
shares
May 04, 2025
USD ($)
purchasePeriod
plan
$ / shares
shares
May 05, 2024
USD ($)
shares
May 04, 2025
USD ($)
purchasePeriod
$ / shares
shares
Feb. 02, 2025
USD ($)
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Number of equity incentive plans | plan     2      
Share-based payment arrangement, expense     $ 96,275,000 $ 112,994,000    
Restricted Stock Units            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Share-based payment arrangement, expense     77,200,000 67,700,000    
Compensation cost (in years) 3 years          
Compensation not yet recognized $ 891,400,000   $ 891,400,000   $ 891,400,000  
Granted (in shares) | shares     7,651,932      
Unvested awards (in shares) | shares 23,943,363   23,943,363   23,943,363 19,299,290
Aggregate intrinsic value $ 1,145,450,000   $ 1,145,450,000   $ 1,145,450,000 $ 1,308,299,000
PRSUs            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period (in years)     3 years      
Share-based payment arrangement, expense     $ 8,000,000 33,500,000    
Compensation cost (in years) 1 year 8 months 12 days          
Compensation not yet recognized $ 16,200,000   $ 16,200,000   $ 16,200,000  
Unvested awards (in shares) | shares 1,063,468   1,063,468   1,063,468 1,849,045
Aggregate intrinsic value $ 50,876,000   $ 50,876,000   $ 50,876,000 $ 125,347,000
PRSU Discretionary Adjustment            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Additional unrecognized compensation modification charge       40,700,000    
Modification charge     1,600,000 $ 28,700,000 38,200,000  
Award vesting rights, target shares earned (percent)       80.00%    
Long-Term Performance Incentive RSUs            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Share-based payment arrangement, expense     3,600,000 $ 3,600,000    
Unrecognized stock-based compensation expense $ 41,700,000   41,700,000   41,700,000  
Compensation cost (in years) 2 years 10 months 24 days          
Compensation not yet recognized $ 73,900,000   $ 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 3,900,000   3,900,000   3,900,000  
Aggregate intrinsic value $ 188,800,000   $ 188,800,000   $ 188,800,000  
Class A common stock            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Closing price of stock (in dollars per share) | $ / shares $ 47.84   $ 47.84   $ 47.84  
Twenty Fifteen Equity Incentive Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Equity awards expiration period (no later than)     10 years      
Tax withholding on vesting of restricted stock (in shares) | shares     1,200,000 300,000    
Tax withholding on vesting of restricted stock units     $ 60,100,000 $ 12,500,000    
2015 Employee Stock Purchase Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Employee stock purchase plan offering period     24 months      
Number of purchase periods | purchasePeriod 4   4   4  
Purchase period, term     6 months      
Modification charge     $ 0 0    
Share-based payment arrangement, expense     7,500,000 $ 8,000,000.0    
Unrecognized stock-based compensation expense $ 45,100,000   $ 45,100,000   $ 45,100,000  
Compensation cost (in years) 1 year 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 30.00%   30.00%   30.00%  
Share cap for ESPP at purchase date (in shares) | shares 3,000   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     85.00%      
Minimum | PRSUs            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Award vesting rights, target (as a percent)     0.00%      
Minimum | Long-Term Performance Incentive RSUs            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period (in years)     3 years      
Minimum | Twenty Fifteen Equity Incentive 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)     200.00%      
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   $ 21,000,000,000  
Maximum | Twenty Fifteen Equity Incentive Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period (in years)     4 years      
v3.25.1
Equity Incentive Plans - Equity Incentive Plans (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
May 04, 2025
Feb. 02, 2025
Number of Shares    
Beginning balance (in shares) 2,426,214  
Options exercised (in shares) (348,395)  
Ending balance (in shares) 2,077,819 2,426,214
Vested and exercisable (in shares) 2,077,819  
Weighted- Average Exercise Price    
Beginning balance (in dollars per share) $ 14.07  
Options exercised (in dollars per share) 15.39  
Ending balance (in dollars per share) 13.85 $ 14.07
Weighted Average Exercise Price, Vested and exercisable (in dollars per share) $ 13.85  
Weighted- Average Remaining Contractual Life (in years)    
Weighted Average Remaining Contractual Life (in years) 2 years 2 years
Weighted Average Remaining Contractual Life (in years), Vested and exercisable 2 years  
Aggregate Intrinsic Value (in thousands)    
Aggregate Intrinsic Value $ 71,090 $ 130,798
Aggregate Intrinsic Value, Vested and exercisable $ 71,090  
v3.25.1
Equity Incentive Plans - Restricted Stock Units (Details) - Unvested RSUs, PRSUs and LTP Awards - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
May 04, 2025
Feb. 02, 2025
Number of RSUs Outstanding    
Unvested, Beginning balance (in shares) 19,299,290  
Granted (in shares) 7,651,932  
Vested (in shares) (2,476,486)  
Forfeited (in shares) (531,373)  
Unvested, Ending balance (in shares) 23,943,363  
Weighted- Average Grant Date Fair Value    
Beginning balance (in dollars per share) $ 37.20  
Granted (in dollars per share) 42.35  
Vested (in dollars per share) 31.65  
Forfeited (in dollars per share) 39.56  
Ending balance (in dollars per share) $ 39.37  
Aggregate intrinsic value $ 1,145,450 $ 1,308,299
v3.25.1
Equity Incentive Plans - Performance-based Restricted Stock Units (PRSUs) (Details) - PRSUs - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
May 04, 2025
Feb. 02, 2025
Number of PRSUs Outstanding    
Unvested, Beginning balance (in shares) 1,849,045  
Vested and earned (in shares) (500,649)  
Unearned (in shares) (284,928)  
Unvested, Ending balance (in shares) 1,063,468  
Weighted- Average Grant Date Fair Value    
Beginning balance (in dollars per share) $ 41.34  
Vested and earned (in dollars per share) 39.59  
Unearned (in dollars per share) 49.46  
Ending balance (in dollars per share) $ 39.98  
Aggregate intrinsic value $ 50,876 $ 125,347
v3.25.1
Equity Incentive Plans - Stock-Based Compensation (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 04, 2025
May 05, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation expense, net of amounts capitalized $ 96,275 $ 112,994
Share-based compensation expense 1,900 1,600
Cost of revenue—product    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation expense, net of amounts capitalized 3,266 2,782
Cost of revenue—subscription services    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation expense, net of amounts capitalized 7,162 8,871
Research and development    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation expense, net of amounts capitalized 49,242 50,294
Sales and marketing    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation expense, net of amounts capitalized 22,084 23,519
General and administrative    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Total stock-based compensation expense, net of amounts capitalized $ 14,521 $ 27,528
v3.25.1
Net 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
May 04, 2025
May 05, 2024
Earnings Per Share [Abstract]    
Net loss $ (13,995) $ (35,009)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) 326,539 322,589
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) 326,539 322,589
Net loss per share attributable to common stockholders, basic (in dollars per share) $ (0.04) $ (0.11)
Net loss per share attributable to common stockholders, diluted (in dollars per share) $ (0.04) $ (0.11)
v3.25.1
Net 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
May 04, 2025
May 05, 2024
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]    
Anti-dilutive securities excluded from computation of earnings per share, amount (in shares) 23,412 30,174
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) 2,257 3,883
Unvested RSUs, PRSUs and 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) 20,691 25,516
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) 464 775
v3.25.1
Other Income (Expense), Net - Other Income (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 04, 2025
May 05, 2024
Other Income and Expenses [Abstract]    
Interest income $ 16,876 $ 18,190
Interest expense (1,807) (2,012)
Foreign currency transactions gains (losses) 14,479 (2,092)
Other income 2,107 5
Total other income (expense), net $ 31,655 $ 14,091
v3.25.1
Segment Information and Geographic Areas - Revenue by Geographic Area (Details) - USD ($)
$ in Thousands
 3 Months Ended
May 04, 2025
May 05, 2024
Revenues From External Customers And Long Lived Assets [Line Items]    
Total revenue $ 778,485 $ 693,479
United States    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total revenue 530,658 489,019
Rest of the world    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total revenue $ 247,827 $ 204,460
v3.25.1
Segment Information and Geographic Areas - Long-Lived Assets by Geographic Area (Details) - USD ($)
$ in Thousands
May 04, 2025
Feb. 02, 2025
Revenues From External Customers And Long Lived Assets [Line Items]    
Total long-lived assets $ 503,527 $ 461,731
United States    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total long-lived assets 490,773 448,035
Rest of the world    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total long-lived assets $ 12,754 $ 13,696
v3.25.1
Subsequent Events (Details)
 3 Months Ended
Jun. 10, 2025
USD ($)
Aug. 24, 2020
USD ($)
May 04, 2025
Revolving Credit Facility      
Subsequent Event [Line Items]      
Term of credit facility   5 years  
Senior secured revolving credit facility maximum capacity   $ 300,000,000  
Consolidated leverage ratio, maximum     4.5
Revolving Credit Facility | Subsequent Event      
Subsequent Event [Line Items]      
Term of credit facility 5 years    
Senior secured revolving credit facility maximum capacity $ 500,000,000    
Margin rate (percent) 0.875%    
Commitment fee (percent) 0.075%    
Consolidated leverage ratio, maximum 3.5    
Consolidated leverage ratio, maximum for first six consecutive quarters following a qualified acquisition 4    
Previous Revolving Credit Facility | Subsequent Event      
Subsequent Event [Line Items]      
Repayment of previous credit facility $ 100,000,000