EVERPURE, INC., 10-Q filed on 9/4/2026
Quarterly Report
v3.26.1
Cover - shares
 6 Months Ended
Aug. 02, 2026
Aug. 31, 2026
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Aug. 02, 2026  
Document Transition Report false  
Entity File Number 001-37570  
Entity Registrant Name Everpure, 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, $0.0001 par value per share  
Trading Symbol P  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   333,227,251
Amendment Flag false  
Document Fiscal Year Focus 2027  
Document Fiscal Period Focus Q2  
Entity Central Index Key 0001474432  
Current Fiscal Year End Date --01-31  
v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Aug. 02, 2026
Feb. 01, 2026
Current assets:    
Cash and cash equivalents $ 385,694 $ 854,873
Marketable securities 622,197 692,446
Accounts receivable, net of allowance of $203 and $204 1,027,665 944,844
Inventory 106,300 75,935
Deferred commissions, current 150,472 139,379
Prepaid expenses and other current assets 1,025,645 356,015
Total current assets 3,317,973 3,063,492
Property and equipment, net 687,950 587,022
Operating lease right-of-use assets 196,341 185,975
Deferred commissions, non-current 296,422 280,190
Intangible assets, net 23,338 7,346
Goodwill 466,313 365,075
Restricted cash 8,214 7,687
Other assets, non-current 223,858 177,472
Total assets 5,220,409 4,674,259
Current liabilities:    
Accounts payable 329,848 153,312
Accrued compensation and benefits 300,060 347,205
Accrued expenses and other liabilities 192,577 184,338
Operating lease liabilities, current 50,273 44,080
Deferred revenue, current 1,323,750 1,181,055
Total current liabilities 2,196,508 1,909,990
Operating lease liabilities, non-current 175,034 172,063
Deferred revenue, non-current 1,197,521 1,046,442
Other liabilities, non-current 110,508 100,096
Total liabilities 3,679,571 3,228,591
Commitments and contingencies (Note 8)
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; 330,353 and 333,324 Class A shares issued and outstanding 33 33
Additional paid-in capital 2,627,961 2,624,757
Accumulated other comprehensive income (loss) (4,552) 1,709
Accumulated deficit (1,082,604) (1,180,831)
Total stockholders’ equity 1,540,838 1,445,668
Total liabilities and stockholders’ equity $ 5,220,409 $ 4,674,259
v3.26.1
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Aug. 02, 2026
Feb. 01, 2026
Accounts receivable, allowance $ 204 $ 203
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 20,000,000 20,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, shares authorized (in shares) 2,250,000,000 2,250,000,000
Class A common stock    
Common stock, par value per share (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, shares issued (in shares) 333,324,000 330,353,000
Common stock, shares outstanding (in shares) 333,324,000 330,353,000
Class B common stock    
Common stock, par value per share (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 250,000,000 250,000,000
v3.26.1
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Aug. 02, 2026
Aug. 03, 2025
Aug. 02, 2026
Aug. 03, 2025
Total revenue $ 1,185,898 $ 861,002 $ 2,238,794 $ 1,639,487
Total cost of revenue 374,510 256,666 704,074 498,998
Gross profit 811,388 604,336 1,534,720 1,140,489
Operating expenses:        
Research and development 293,749 242,026 552,841 463,766
Sales and marketing 346,077 285,890 693,933 564,402
General and administrative 108,407 71,549 204,852 138,621
Total operating expenses 748,233 599,465 1,451,626 1,166,789
Income (loss) from operations 63,155 4,871 83,094 (26,300)
Other income (expense), net 9,006 45,700 22,937 77,355
Income before provision (benefit) for income taxes 72,161 50,571 106,031 51,055
Provision (benefit) for income taxes (1,988) 3,453 7,804 17,932
Net income $ 74,149 $ 47,118 $ 98,227 $ 33,123
Net income per share attributable to common stockholders, basic (in dollars per share) $ 0.22 $ 0.14 $ 0.30 $ 0.10
Net income per share attributable to common stockholders, diluted (in dollars per share) $ 0.21 $ 0.14 $ 0.28 $ 0.10
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares) 332,942 327,594 332,047 327,066
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted (in shares) 345,587 337,734 344,811 337,306
Product        
Total revenue $ 686,773 $ 446,303 $ 1,263,317 $ 818,447
Total cost of revenue 238,223 150,296 442,767 291,346
Subscription services        
Total revenue 499,125 414,699 975,477 821,040
Total cost of revenue $ 136,287 $ 106,370 $ 261,307 $ 207,652
v3.26.1
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 02, 2026
Aug. 03, 2025
Aug. 02, 2026
Aug. 03, 2025
Statement of Comprehensive Income [Abstract]        
Net income $ 74,149 $ 47,118 $ 98,227 $ 33,123
Other comprehensive income (loss):        
Unrealized net gains (losses) on available-for-sale securities (2,882) 995 (5,965) 1,969
Less: reclassification adjustment for net gains on available-for-sale securities included in net income (57) (910) (296) (1,007)
Change in unrealized net gains (losses) on available-for-sale securities (2,939) 85 (6,261) 962
Comprehensive income $ 71,210 $ 47,203 $ 91,966 $ 34,085
v3.26.1
Condensed Consolidated Statements of Stockholders’ Equity - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Beginning balance (in shares) at Feb. 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)   833      
Issuance of common stock upon exercise of stock options 13,458   13,458    
Stock-based compensation expense 217,687   217,687    
Vesting of restricted stock units (in shares)   5,733      
Tax withholding on vesting of equity awards (in shares)   (2,259)      
Tax withholding on vesting of equity awards (117,946)   (117,946)    
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)   (3,264)      
Repurchases of common stock (162,178)   (162,178)    
Other comprehensive income (loss) 962     962  
Net income 33,123       33,123
Ending balance (in shares) at Aug. 03, 2025   328,315      
Ending balance at Aug. 03, 2025 1,318,821 $ 33 2,652,761 1,916 (1,335,889)
Beginning balance (in shares) at May. 04, 2025   326,938      
Beginning balance at May. 04, 2025 1,244,055 $ 33 2,625,198 1,831 (1,383,007)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock upon exercise of stock options (in shares)   485      
Issuance of common stock upon exercise of stock options 8,095   8,095    
Stock-based compensation expense 119,509   119,509    
Vesting of restricted stock units (in shares)   2,756      
Tax withholding on vesting of equity awards (in shares)   (1,092)      
Tax withholding on vesting of equity awards (57,799)   (57,799)    
Repurchase of common stock (in shares)   (772)      
Repurchases of common stock (42,242)   (42,242)    
Other comprehensive income (loss) 85     85  
Net income 47,118       47,118
Ending balance (in shares) at Aug. 03, 2025   328,315      
Ending balance at Aug. 03, 2025 1,318,821 $ 33 2,652,761 1,916 (1,335,889)
Beginning balance (in shares) at Feb. 01, 2026   330,353      
Beginning balance at Feb. 01, 2026 1,445,668 $ 33 2,624,757 1,709 (1,180,831)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock upon exercise of stock options (in shares)   1,074      
Issuance of common stock upon exercise of stock options 15,169   15,169    
Stock-based compensation expense 286,371   286,371    
Vesting of restricted stock units (in shares)   5,985      
Tax withholding on vesting of equity awards (in shares)   (2,552)      
Tax withholding on vesting of equity awards (175,253)   (175,253)    
Common stock issued under employee stock purchase plan (in shares)   678      
Common stock issued under employee stock purchase plan 30,001   30,001    
Repurchase of common stock (in shares)   (2,214)      
Repurchases of common stock (153,084)   (153,084)    
Other comprehensive income (loss) (6,261)     (6,261)  
Net income 98,227       98,227
Ending balance (in shares) at Aug. 02, 2026   333,324      
Ending balance at Aug. 02, 2026 1,540,838 $ 33 2,627,961 (4,552) (1,082,604)
Beginning balance (in shares) at May. 03, 2026   332,054      
Beginning balance at May. 03, 2026 1,442,138 $ 33 2,600,471 (1,613) (1,156,753)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Issuance of common stock upon exercise of stock options (in shares)   512      
Issuance of common stock upon exercise of stock options 8,523   8,523    
Stock-based compensation expense 162,201   162,201    
Vesting of restricted stock units (in shares)   2,685      
Tax withholding on vesting of equity awards (in shares)   (995)      
Tax withholding on vesting of equity awards (74,253)   (74,253)    
Repurchase of common stock (in shares)   (932)      
Repurchases of common stock (68,981)   (68,981)    
Other comprehensive income (loss) (2,939)     (2,939)  
Net income 74,149       74,149
Ending balance (in shares) at Aug. 02, 2026   333,324      
Ending balance at Aug. 02, 2026 $ 1,540,838 $ 33 $ 2,627,961 $ (4,552) $ (1,082,604)
v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Aug. 02, 2026
Aug. 03, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 98,227 $ 33,123
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 81,777 69,697
Stock-based compensation expense 281,879 213,668
Unrealized gain on equity security 0 (30,401)
Other 4,349 7,027
Changes in operating assets and liabilities, net of effects of acquisition:    
Accounts receivable, net (79,318) 150,381
Inventory (36,563) (12,268)
Deferred commissions (27,325) (11,395)
Prepaid expenses and other assets (694,305) (33,401)
Operating lease right-of-use assets 21,581 19,958
Accounts payable 156,591 (3,146)
Accrued compensation and other liabilities (33,541) 602
Operating lease liabilities (22,683) (23,513)
Deferred revenue 293,147 115,761
Net cash provided by operating activities 43,816 496,093
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (169,668) (134,373)
Acquisition, net of cash acquired (125,308) 0
Purchase of strategic investment (1,000) 0
Purchases of marketable securities and other (267,490) (256,128)
Sales of marketable securities 193,481 270,987
Maturities of marketable securities 139,448 137,507
Net cash provided by (used in) investing activities (230,537) 17,993
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of stock options 15,169 13,458
Proceeds from issuance of common stock under employee stock purchase plan 30,001 27,240
Payments of financing costs for revolving credit facility 0 (2,080)
Principal payments on borrowings and finance lease obligations (612) (101,125)
Tax withholding on vesting of equity awards (173,296) (117,461)
Repurchases of common stock (153,084) (162,178)
Net cash used in financing activities (281,822) (342,146)
Net increase (decrease) in cash, cash equivalents and restricted cash (468,543) 171,940
Cash, cash equivalents and restricted cash, beginning of period 864,979 737,750
Cash, cash equivalents and restricted cash, end of period 396,436 909,690
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD    
Cash and cash equivalents 385,694 887,849
Restricted cash 10,742 21,841
Cash, cash equivalents and restricted cash, end of period 396,436 909,690
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 0 2,122
Cash paid for income taxes, net of refunds 10,476 21,141
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION    
Property and equipment purchased but not yet paid $ 39,356 $ 19,129
v3.26.1
Business Overview
 6 Months Ended
Aug. 02, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Business Overview Business Overview
Organization and Description of Business
Everpure, 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. In February 2026, we changed our name to Everpure, Inc. to reflect our strategic evolution from redefining storage to rethinking data management, as we help customers unleash the power of data. We are headquartered in Santa Clara, California and have wholly owned subsidiaries throughout the world.
v3.26.1
Basis of Presentation and Summary of Significant Accounting Policies
 6 Months Ended
Aug. 02, 2026
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 2026 was February 1, 2026 and for fiscal 2027 will be January 31, 2027. The second quarter of fiscal 2026 and 2027 ended on August 3, 2025 and August 2, 2026. 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 2026.
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 income 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 2027 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, and fair value of intangible assets and goodwill acquired through business combination. 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 certain employee-related benefits. At the end of fiscal 2026 and the second quarter of fiscal 2027, we had restricted cash of $10.1 million and $10.7 million. Included in these amounts are $2.4 million and $2.5 million classified as prepaid expenses and other current assets in our condensed consolidated balance sheets.
Business Combination
We allocate the purchase price to the assets acquired and liabilities assumed based on their estimated fair values. The excess of the purchase price over the fair values of the assets acquired and liabilities assumed is recorded as goodwill. During the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the estimated fair value of the assets acquired and liabilities assumed, with the corresponding offset to goodwill. The results of operations of an acquired business is included in our condensed consolidated financial statements from the date of acquisition. Acquisition-related expenses are expensed as incurred.
Recent Accounting Pronouncements Not Yet Adopted
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 standard on our financial statement disclosures.
In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use-Software, which amends the cost capitalization criteria for internal-use software development costs by removing all references to software project development stages and providing new guidance on how to evaluate whether the probable-to-complete recognition threshold has been met. The new standard can be applied on either a fully retrospective, modified transition, or prospective basis. ASU 2025-06 will be effective for our fiscal years beginning after fiscal 2028 and interim periods within those fiscal years, with early adoption permitted. We are currently evaluating the impact of this standard on our consolidated financial statements.
In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements, which clarifies that the interim reporting requirements in Topic 270 apply to all entities that issue interim financial statements prepared in accordance with U.S. GAAP and consolidates such requirements within Topic 270. The amendments provide a comprehensive list within Topic 270 of required interim disclosures, establish a principle requiring disclosure of events or changes occurring after the end of the most recent annual reporting period that have a material impact on interim results, and clarifies the form and content requirements applicable to interim financial statements. ASU 2025-11 will be effective for our fiscal year beginning February 7, 2028, with early adoption permitted. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements and related disclosures.
v3.26.1
Business Combination
 6 Months Ended
Aug. 02, 2026
Business Combination [Abstract]  
Business Combination Business Combination
1touch Acquisition
On May 7, 2026, we acquired all outstanding equity interests in 1touch, an innovator in data intelligence and orchestration that provides a comprehensive, unified view of enterprise information, for total cash consideration of $125.9 million. The transaction costs associated with the acquisition were not material and expensed as incurred.
The preliminary purchase price allocation based on the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date, primarily includes $19.5 million of intangible assets and $101.2 million of goodwill.
Acquired Intangible Assets
The following table sets forth the components of identifiable intangible assets acquired and their useful lives by major class of intangible assets as of the acquisition date (in thousands):
Useful LivesAs of May 7, 2026
Customer relationships7 years$5,500 
Developed technology6 years9,200 
In-progress research and development (1)
N/A2,800 
Customer contract backlog (2)
3 years2,000 
Total intangible assets acquired$19,500 
_________________________________
(1) In-progress research and development will be amortized over the estimated useful life once developments are complete.
(2) Customer contract backlog represents the value of signed contracts for which services have not yet been performed or billed.
To derive the fair value of acquired intangible assets, we applied the excess earnings method for customer relationships and customer contract backlog, and the relief-from-royalty method for developed technology and in-progress research and development. Goodwill generated from this acquisition is primarily attributable to the expected post-acquisition synergies from combining 1touch's data intelligence, orchestration, and data security posture management capabilities with our unified data platform. These synergies primarily relate to data discovery, classification, and governance across on-premises, cloud, and software-as-a-service environments, and to preparing data for use in artificial intelligence applications.
The preliminary purchase price allocation includes the related impact to deferred tax asset and deferred tax liability that are subject to change upon finalizing its valuation analysis. This analysis is expected to be finalized within the measurement period not to exceed one year from the date of acquisition. Management expects that goodwill and identifiable intangible assets will be deductible for tax purposes.
The financial results of 1touch have been included in our consolidated statements of operations since the acquisition date and are not material. Pro forma results of operations have not been presented because the acquisition was not material to our results of operations.
v3.26.1
Financial Instruments
 6 Months Ended
Aug. 02, 2026
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 and marketable securities 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 these assets by significant investment categories and their classification within the fair value hierarchy and in our condensed consolidated balance sheets at the end of fiscal 2026 and the second quarter of fiscal 2027 (in thousands):
At the End of Fiscal 2026
Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Cash
Equivalents
Marketable
Securities
Level 1
Money market accounts$— $— $— $297,462 $297,462 $— 
Level 2
U.S. government treasury notes289,069 790 (95)289,764 19,387 270,377 
U.S. government agencies9,194 148 (1)9,341 — 9,341 
Corporate debt securities335,347 2,341 (1)337,687 — 337,687 
Foreign government bonds6,555 3 — 6,558 — 6,558 
Asset-backed securities47,768 324 — 48,092 — 48,092 
Municipal bonds20,381 18 (8)20,391 — 20,391 
Total$708,314 $3,624 $(105)$1,009,295 $316,849 $692,446 
At the End of the Second Quarter of Fiscal 2027
Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Cash
Equivalents
Marketable
Securities
Level 1
Money market accounts$— $— $— $250,187 $250,187 $— 
Level 2
U.S. government treasury notes287,127 62 (2,315)284,874 7,478 277,396 
U.S. government agencies7,372 5 (34)7,343 — 7,343 
Corporate debt securities285,180 355 (664)284,871 — 284,871 
Foreign government bonds3,149 — (6)3,143 — 3,143 
Asset-backed securities34,421 25 (68)34,378 — 34,378 
Municipal bonds15,168 — (102)15,066 — 15,066 
Total$632,417 $447 $(3,189)$879,862 $257,665 $622,197 
The amortized cost and estimated fair value of our marketable securities are shown below by contractual maturity (in thousands):
At the End of the Second Quarter of Fiscal 2027
Amortized CostFair Value
Due within one year$176,724 $176,940 
Due in one to five years445,387 442,434 
Due in five to ten years2,828 2,823 
Total$624,939 $622,197 
Unrealized losses on our marketable securities have not been recorded into income because we do not intend to sell nor is it more likely than not that we will be required to sell these investments prior to recovery of their amortized cost basis. The fair value of our marketable securities is impacted by the interest rate environment and related credit spreads. The credit ratings associated with our marketable securities are highly rated and the issuers continue to make timely principal and interest payments. As a result, there were no credit or non-credit impairment charges recorded in the second quarter and first two quarters of fiscal 2026 and 2027. 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 2026 and the second quarter of fiscal 2027, aggregated by investment category (in thousands):
At the End of Fiscal 2026
Less than 12 months
Fair
Value		Unrealized
Loss
U.S. government treasury notes$85,422 $(95)
U.S. government agencies2,999 (1)
Corporate debt securities942 (1)
Foreign government bonds2,970 — 
Municipal bonds6,610 (8)
Total$98,943 $(105)

At the End of the Second Quarter of Fiscal 2027
Less than 12 months
Fair
Value		Unrealized
Loss
U.S. government treasury notes$235,913 $(2,315)
U.S. government agencies4,146 (34)
Corporate debt securities117,722 (664)
Foreign government bonds3,143 (6)
Asset-backed securities23,539 (68)
Municipal bonds14,867 (102)
Total$399,330 $(3,189)
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 and in which we do not own a controlling interest or exercise significant influence. At the end of fiscal 2026 and the second quarter of 2027, the carrying amount of these investments was $14.1 million and $15.1 million, included primarily in other assets, non-current in our condensed consolidated balance sheets.
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 second quarter and first two quarters of fiscal 2026 and 2027.
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 $15.9 million and $20.7 million at the end of fiscal 2026 and the second quarter of fiscal 2027.
v3.26.1
Balance Sheet Components
 6 Months Ended
Aug. 02, 2026
Balance Sheet Components Disclosure [Abstract]  
Balance Sheet Components Balance Sheet Components
Inventory
Inventory consists of the following (in thousands):
At the End of
Fiscal 2026
Second Quarter of Fiscal 2027
Raw materials$39,970 $81,933 
Finished goods35,965 24,367 
Inventory$75,935 $106,300 
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consist of the following (in thousands):
At the End of
Fiscal 2026
Second Quarter of Fiscal 2027
Prepaid expenses$80,283 $83,044 
Other receivables (1)
249,990 903,723 
Other current assets25,742 38,878 
Total prepaid expenses and other current assets$356,015 $1,025,645 
_________________________________
(1) Primarily consists of receivables from our contract manufacturers for component purchases made and sold to our contract manufacturers and tax-related receivables.
Property and Equipment, Net
Property and equipment, net consists of the following (in thousands):
 
At the End of
Fiscal 2026
Second Quarter of Fiscal 2027
Test and infrastructure equipment (1)
$499,903 $509,562 
Computer equipment and software488,355 599,292 
Furniture and fixtures14,609 17,093 
Leasehold improvements114,510 123,243 
Capitalized software development costs95,301 108,934 
Total property and equipment1,212,678 1,358,124 
Less: accumulated depreciation and amortization(625,656)(670,174)
Property and equipment, net$587,022 $687,950 
_________________________________
(1) Includes finance lease right-of-use assets. Refer to Note 9.
Depreciation and amortization expense related to property and equipment was $32.6 million and $41.0 million for the second quarter of fiscal 2026 and 2027, and $62.9 million and $79.8 million for the first two quarters of fiscal 2026 and 2027.
Intangible Assets, Net
Intangible assets, net consist of the following (in thousands):
 
At the End of
Fiscal 2026
Second Quarter of Fiscal 2027
Gross Carrying ValueAccumulated AmortizationNet Carrying AmountGross Carrying ValueAccumulated AmortizationNet Carrying Amount
Technology patents$20,875 $(19,370)$1,505 $20,875 $(20,043)$832 
Developed technology84,536 (80,506)4,030 93,736 (82,522)11,214 
Customer relationships6,459 (4,928)1,531 11,959 (5,576)6,383 
In-progress research and development— — — 2,800 — 2,800 
Customer contract backlog— — — 2,000 (161)1,839 
Trade name and trademarks (1)
3,903 (3,623)280 3,893 (3,623)270 
Intangible assets, net$115,773 $(108,427)$7,346 $135,263 $(111,925)$23,338 
 _________________________________
(1) Includes direct costs to obtain these indefinite-lived assets in connection with our name change in February 2026.
Intangible assets amortization expense was $4.0 million and $1.5 million for the second quarter of fiscal 2026 and 2027, and $8.0 million and $3.5 million for the first two quarters of fiscal 2026 and 2027. At the end of the second quarter of fiscal 2027, the weighted-average remaining amortization period was 0.2 year for technology patents, 0.7 year for developed technology, 3.7 years for customer relationships, and 2.8 years for customer contract backlog. 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 and customer contract backlog in sales and marketing expenses in the condensed consolidated statements of operations.
At the end of the second quarter of fiscal 2027, future expected amortization expense for intangible assets is as follows (in thousands):
Fiscal Years EndingEstimated Future
Amortization Expense
Remainder of 2027$2,514 
20284,800 
20293,843 
20302,904 
20312,504 
Thereafter
3,703 
Total$20,268 
Goodwill
The change in the carrying amount of goodwill is as follows (in thousands):
Amount
Balance at the end of fiscal 2026$365,075 
Goodwill acquired
101,238 
Balance at the end of the second quarter of fiscal 2027
$466,313 
There were no impairments to goodwill for the second quarter and first two quarters of fiscal 2026 and 2027.
Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consist of the following (in thousands):
At the End of
Fiscal 2026
Second Quarter of Fiscal 2027
Taxes payable$14,044 $17,118 
Accrued sales, marketing and partner liabilities67,563 69,653 
Engineering-related accruals (1)
6,352 7,655 
Supply chain-related accruals (2)
12,961 17,256 
Accrued service logistics and professional services13,570 16,095 
Customer deposits from contracts with customers32,905 28,555 
Other accrued liabilities36,943 36,245 
Total accrued expenses and other liabilities$184,338 $192,577 
_________________________________
(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.
v3.26.1
Deferred Revenue and Commissions
 6 Months Ended
Aug. 02, 2026
Revenue from Contract with Customer [Abstract]  
Deferred Revenue and Commissions Deferred Revenue and Commissions
Deferred Commissions
Deferred commissions consist of incremental costs paid to our sales force to obtain customer contracts.
Changes in total deferred commissions during the periods presented are as follows (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
Beginning balance
$332,277 $432,249 $328,620 $419,569 
Additions53,100 82,097 99,027 167,167 
Recognition of deferred commissions(45,362)(67,452)(87,632)(139,842)
Ending balance$340,015 $446,894 $340,015 $446,894 
Of the $446.9 million total deferred commissions balance at the end of the second quarter of fiscal 2027, we expect to recognize approximately 34% as sales commission expense over the next 12 months and the remainder thereafter.
There was no impairment related to capitalized commissions for the second quarter and first two quarters of fiscal 2026 and 2027.
Deferred Revenue
Deferred revenue primarily consists of amounts that have been invoiced but have not yet been recognized as revenue including performance obligations pertaining to subscription services.
Changes in total deferred revenue during the periods presented are as follows (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
Beginning balance
$1,827,545 $2,377,357 $1,795,303 $2,227,497 
Additions495,801 629,356 923,488 1,276,386 
Recognition of deferred revenue(412,282)(485,442)(807,727)(982,612)
Ending balance$1,911,064 $2,521,271 $1,911,064 $2,521,271 
Revenue recognized during the second quarter of fiscal 2026 and 2027 from deferred revenue at the beginning of each respective period was $344.4 million and $419.4 million. Revenue recognized during the first two quarters of fiscal 2026 and 2027 from deferred revenue at the beginning of each respective period was $586.6 million and $858.6 million.
Remaining Performance Obligations
Total remaining performance obligations (RPO) which is contracted but not recognized revenue was $4.1 billion at the end of the second quarter of fiscal 2027, of which $44.5 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. Of the $4.1 billion RPO at the end of the second quarter of fiscal 2027, we expect to recognize approximately 42% over the next 12 months, and the remainder thereafter.
v3.26.1
Debt
 6 Months Ended
Aug. 02, 2026
Debt Disclosure [Abstract]  
Debt Debt
Revolving Credit Facility
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 (Credit Facility) that expires on June 10, 2030, unless otherwise extended. Proceeds from borrowings under the Credit Facility may be used for general corporate purposes and working capital. The Credit Facility replaced our prior $300.0 million revolving credit facility in which the outstanding borrowings of $100.0 million was repaid in full and terminated effective June 10, 2025.
U.S. Dollar denominated borrowings under the Credit Facility will bear interest, at our option, at a base rate, subject to a floor of 0%, plus a margin ranging from 0% to 0.50%, or the term Secured Overnight Financing Rate (SOFR) rate (based on one, three or six-month interest periods), subject to a floor of 0%, plus a margin ranging from 0.875% to 1.50%. Interest is payable quarterly in arrears with respect to base rate borrowings and at the end of the interest period with respect to term SOFR borrowing. We are also obligated to pay an ongoing commitment fee on undrawn amounts at a rate ranging from 0.075% to 0.20% per annum, payable quarterly in arrears. The respective margins will fluctuate based on the then-applicable Consolidated Net Leverage Ratio (as defined in the Credit Agreement) and, if available, our debt rating.
We are subject to certain affirmative and negative covenants, 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 Credit Agreement) measured as of the last day of each fiscal quarter. As of the end of the second quarter of fiscal 2027, there were no outstanding borrowings and we were in compliance with all covenants under the Credit Facility.
v3.26.1
Commitments and Contingencies
 6 Months Ended
Aug. 02, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Leases
At the end of the second quarter of fiscal 2027, we had various non-cancelable operating and finance lease commitments for office and data center facilities. Refer to Note 9—Leases for additional information regarding lease commitments.
Letters of Credit
At the end of fiscal 2026 and the second quarter of fiscal 2027, we had outstanding letters of credit in the aggregate amount of $13.0 million and $16.6 million in connection with our facility leases and a certain employee-related benefit, that mature on various dates through December 2031. Of the $13.0 million and $16.6 million outstanding as of the end of fiscal 2026 and the second quarter of fiscal 2027, $2.0 million and $4.9 million was issued under the Credit Facility.
Long-Term Supply Arrangements
During the second quarter of fiscal 2027, certain conditions of one of our long-term supply arrangements were met, triggering the commitment to acquire approximately $1.1 billion of component supply through calendar year 2027. Under these agreements, purchases can be made by either us or our approved contract manufacturers to fulfill the overall commitment. We would be obligated to purchase amounts to fulfill the commitment if they are not purchased by our contract manufacturers. At this time, we expect our contract manufacturers will purchase substantially all of this committed volume in the ordinary course of business.
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 second quarter of fiscal 2027.
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.
v3.26.1
Leases
 6 Months Ended
Aug. 02, 2026
Leases [Abstract]  
Leases Leases
We lease office and data center facilities under non-cancelable operating lease agreements expiring through October 2040. Our lease agreements do not contain any material residual value guarantees or restrictive covenants. During the first two quarters of fiscal 2027, we have executed certain lease agreements primarily related to our headquarter office and data center that are expected to commence between fiscal 2027 and fiscal 2031, with duration of these leases ranging from 5 to 12 years. As such, aggregate lease payments of approximately $385.8 million are excluded from our future lease payments tabular disclosure below.
We also lease certain engineering test equipment under financing agreements. These finance leases have a lease term of three 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. Lease assets and liabilities associated with these leases were not material for all periods presented.
The components of operating lease costs during the periods presented were as follows (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
Fixed operating lease cost$13,407 $14,199 $26,274 $28,029 
Variable lease cost (1)
3,749 2,602 5,782 5,974 
Short-term lease cost (12 months or less)1,177 1,129 2,303 2,490 
Total lease cost$18,333 $17,930 $34,359 $36,493 
____________________________________
(1) Variable lease cost predominantly included common area maintenance charges.
Supplemental information related to operating leases is as follows (in thousands):
At the End of
Fiscal 2026
Second Quarter of Fiscal 2027
Operating leases:
Weighted-average remaining lease term (in years)4.75.0
Weighted-average discount rate6.5 %5.6 %
Supplemental cash flow information related to operating leases is as follows (in thousands):
First Two Quarters of Fiscal
20262027
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows for operating leases$29,384 $27,510 
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases$65,461 $36,794 
Future lease payments under our non-cancelable operating leases at the end of the second quarter of fiscal 2027 are as follows (in thousands):
Fiscal Years EndingOperating Leases
Remainder of 2027$9,776 
202865,211 
202956,265 
203053,277 
203144,733 
Thereafter33,685 
Total future lease payments262,947 
Less: imputed interest(37,640)
Present value of total lease liabilities$225,307 
Lessor Arrangement
We, as a lessor, have entered into non-cancelable arrangements to lease our storage and data management solutions and subscription services. The arrangements include multiple seven-year leases with total net consideration of $377.0 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 primarily 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.
No product revenue was recognized during the second quarter and first two quarters of fiscal 2026. We recognized $8.9 million and $38.1 million in product revenue related to the sales-type lease components during the second quarter and first two quarters of fiscal 2027. The associated profit was $6.9 million and $33.9 million, based on the product revenue recognized less certain costs, during the second quarter and first two quarters of fiscal 2027. Subscription services revenue related to the operating lease and non-lease components recognized was $4.8 million and $12.2 million during the second quarter of fiscal 2026 and 2027 and $12.0 million and $27.3 million during the first two quarters of fiscal 2026 and 2027.
Future minimum gross lease payments allocated to the sales-type leases and operating lease components are as follows (in thousands). The remaining lease payments of $184.3 million allocated to the non-lease components are excluded from the table below.
Fiscal Years EndingSales-Type LeasesOperating Lease
Remainder of 2027$11,385 $7,509 
202822,589 11,452 
202926,238 5,743 
203032,414 597 
203133,011 — 
Thereafter41,568 — 
Total future lease payments to be received
$167,205 $25,301 
v3.26.1
Stockholders' Equity
 6 Months Ended
Aug. 02, 2026
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
Preferred Stock
We have 20.0 million authorized shares of undesignated preferred stock, the rights, preferences and privileges of which may be designated from time to time by our Board of Directors. At the end of the second quarter of fiscal 2027, there were no shares of preferred stock issued or outstanding.
Class A and Class B Common Stock
We have two classes of authorized common stock, Class A common stock, which we refer to as our “common stock”, and Class B common stock. At the end of the second quarter of fiscal 2027, we had 2.0 billion authorized shares of Class A common stock and 250.0 million authorized shares of Class B common stock, with each class having a par value of $0.0001 per share. At the end of the second quarter of fiscal 2027, 333.3 million shares of Class A common stock were issued and outstanding.
Share Repurchase Program
Our Board of Directors has authorized up to $1.8 billion under our share repurchase program. At the end of the second quarter of fiscal 2027, $176.0 million remained available for future share repurchases under our current repurchase authorization.
The following table summarizes the stock repurchase activity for the second quarter and first two quarters of fiscal 2026 and 2027 (in thousands except for per share amounts):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
Number of shares repurchased and retired
772 932 3,264 2,214 
Average price per share (1)
$54.70 $74.01 $49.66 $69.13 
Aggregate purchase price (1)
$42,227 $68,962 $162,114 $153,039 
____________________________________
(1) Excludes transaction costs that are included in the repurchases of common stock on the condensed consolidated statements of cash flows.
v3.26.1
Equity Incentive Plans
 6 Months Ended
Aug. 02, 2026
Share-Based Payment Arrangement [Abstract]  
Equity Incentive Plans Equity Incentive Plans
2015 Equity Incentive Plan
The 2015 Equity Incentive Plan (the 2015 Plan) provides for grants of incentive stock options to our employees and non-statutory stock options, stock appreciation rights, restricted stock, restricted stock units (RSUs), 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 five year period and expire no later than ten years from the date of grant.
Upon vesting of equity awards, 1.1 million and 1.0 million shares were withheld during the second quarter of fiscal 2026 and 2027 to cover $57.8 million and $74.3 million in tax withholding obligations, and 2.3 million and 2.6 million shares were withheld to cover $117.9 million and $175.3 million in tax withholding during the first two quarters of fiscal 2026 and 2027. 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 two quarters of fiscal 2026. During the first two quarters of fiscal 2027, ESPP reset resulted in total modification charge of $6.0 million, which will be recognized over its new offering period.
Stock-based compensation expense related to our 2015 ESPP was $6.7 million and $8.6 million during the second quarter of fiscal 2026 and 2027, and $14.2 million and $16.6 million during the first two quarters of fiscal 2026 and 2027. At the end of the second quarter of fiscal 2027, total unrecognized stock-based compensation cost related to our 2015 ESPP was $27.7 million, which is expected to be recognized over a weighted-average period of 1.1 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 20261,142,394 $13.80 1.7$64,144 
Options exercised(1,074,224)14.12 
Balance at the end of the second quarter of fiscal 2027
68,170 $1.89 3.4$5,132 
Vested and exercisable at the end of the second quarter of fiscal 2027
68,170 $1.89 3.4$5,132 
The aggregate intrinsic value of options vested and exercisable at the end of the second quarter of fiscal 2027 is calculated based on the difference between the exercise price and the closing price of $77.17 of our common stock on the last day of the second quarter of fiscal 2027.
Stock-based compensation expense related to stock options was fully recognized in fiscal 2025.
Restricted Stock Unit Awards (RSUs)
A summary of the RSUs 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 2026
17,340,284 $44.32 $1,205,843 
Granted
8,064,353 68.38 
Vested(4,632,816)40.37 
Forfeited or canceled (1)
(961,873)50.00 
Unvested balance at the end of the second quarter of fiscal 2027
19,809,948 $54.76 $1,528,734 
_________________________________
(1) Represents the number of shares granted under the RSU awards that were forfeited due to termination of employment or canceled.
Stock-based compensation expense related to RSUs was $89.1 million and $103.6 million during the second quarter of fiscal 2026 and 2027, and $166.3 million and $189.2 million during the first two quarters of fiscal 2026 and 2027. At the end of the second quarter of fiscal 2027, total unrecognized stock-based compensation cost related to unvested RSUs was $1.0 billion, which is expected to be recognized over a weighted-average period of 3.0 years.
Performance-based Restricted Stock Units (PRSUs) and Long Term Incentive Performance Awards (LTP Awards)
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.
In fiscal 2024, 2026, and 2027, we granted 4.2 million, 1.2 million and 0.7 million LTP Awards, respectively, contingent on achieving specified market capitalization or stock price thresholds measured over approximately three- to five-year periods. Awards granted are measured for achievement at the end of the third, fourth and fifth fiscal years following the year of grant. For the fiscal 2024 and fiscal 2026 LTP Awards, any shares earned based on achievement at these measurement dates vest at the end of the fifth fiscal year following grant. For the fiscal 2027 LTP Awards, shares earned based on achievement at each measurement date vest during the respective quarter thereafter. In each case, vested shares are subject to continued service and a one-year post-vest holding period. The stock-based compensation expense for these awards is being recognized over the respective requisite service periods ranging from approximately three to five years using the accelerated attribution method and is not reversed if the market condition is not ultimately met.
A summary of the PRSUs and LTP Awards activity under our 2015 Plan and related information is as follows:
PRSUs and LTP Awards
Number of
Shares Outstanding		Weighted-
Average
Grant Date
Fair Value		Aggregate
Intrinsic
Value (in thousands)
Unvested balance at the end of fiscal 2026
6,817,793 $29.26 $474,109 
Granted2,942,173 63.30 
Vested and earned (1)
(1,351,984)52.20 
Forfeited (2)
(569,660)27.86 
Unvested balance at the end of the second quarter of fiscal 2027
7,838,322 $38.18 $604,883 
____________________________________
(1) Represents the number of shares earned in which the service condition has also been satisfied.
(2) Represents the number of shares granted under the PRSU and LTP awards that were forfeited due to termination of employment.
Stock-based compensation expense related to PRSUs and LTP Awards was $21.6 million and $47.6 million during the second quarter of fiscal 2026 and 2027, and $33.2 million and $76.1 million during the first two quarters of fiscal 2026 and 2027. At the end of the second quarter of fiscal 2027, total unrecognized stock-based compensation cost related to unvested PRSUs and LTP Awards was $249.9 million, which is expected to be recognized over a weighted-average period of 2.6 years.
Stock-Based Compensation Expense
The following table summarizes the components of stock-based compensation expense recognized in the condensed consolidated statements of operations (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
Cost of revenue—product$4,149 $5,336 $7,415 $9,468 
Cost of revenue—subscription services8,559 10,287 15,721 18,442 
Research and development
60,354 80,010 109,596 140,341 
Sales and marketing26,527 33,461 48,611 62,624 
General and administrative17,804 30,721 32,325 51,004 
Total stock-based compensation expense, net of amounts capitalized (1)
$117,393 $159,815 $213,668 $281,879 
_________________________________
(1) Stock-based compensation expense capitalized was $2.1 million and $2.4 million during the second quarter of fiscal 2026 and 2027, and $4.0 million and $4.5 million during the first two quarters of fiscal 2026 and 2027.
v3.26.1
Net Income per Share Attributable to Common Stockholders
 6 Months Ended
Aug. 02, 2026
Earnings Per Share [Abstract]  
Net Income per Share Attributable to Common Stockholders Net Income per Share Attributable to Common Stockholders
Basic and diluted net income per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. Basic net income per share attributable to common stockholders is computed by dividing the net income attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net income 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.
The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders (in thousands, except per share data):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
Numerator:
Net income$47,118 $74,149 $33,123 $98,227 
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders, basic327,594 332,942 327,066 332,047 
Add: dilutive effect of common stock equivalents10,140 12,645 10,240 12,764 
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted337,734 345,587 337,306 344,811 
Net income per share attributable to common stockholders, basic$0.14 $0.22 $0.10 $0.30 
Net income per share attributable to common stockholders, diluted$0.14 $0.21 $0.10 $0.28 
The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net income per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive (in thousands):
 
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
Unvested RSUs and PRSUs
676 127 746 980 
v3.26.1
Other Income (Expense), Net
 6 Months Ended
Aug. 02, 2026
Other Income and Expenses [Abstract]  
Other Income (Expense), Net Other Income (Expense), Net
Other income (expense), net consists of the following (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
Interest income (1)
$15,665 $11,279 $32,541 $25,583 
Interest expense (2)
(1,051)(292)(2,858)(531)
Foreign currency transactions gains (losses)1,889 (3,268)16,368 (6,300)
Other income (3)
29,197 1,287 31,304 4,185 
Total other income (expense), net$45,700 $9,006 $77,355 $22,937 
____________________________________
(1) 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) Includes non-cash interest expense related to amortization of issuance costs, contractual interest expense related to our debt and accretion of our finance lease liabilities.
(3) Includes unrealized gain of $28.0 million and $30.4 million for an equity security in the second quarter and first two quarters of fiscal 2026.
v3.26.1
Income Taxes
 6 Months Ended
Aug. 02, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Our provision (benefit) for income tax primarily reflects taxes on international operations and U.S. income taxes. The difference between the income tax provision (benefit) that would be derived by applying the statutory rate to our income before provision (benefit) for income taxes and the income tax provision (benefit) recorded was primarily attributable to our valuation allowance on U.S. deferred tax assets, research and development credits, U.S. taxes on foreign income, and stock-based compensation expense.
At the end of the second quarter of fiscal 2027, there were no material changes to either the nature or the amounts of the uncertain tax positions previously determined for fiscal 2026.
v3.26.1
Segment Information and Geographic Areas
 6 Months Ended
Aug. 02, 2026
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 income (loss) and net income as reported on the condensed consolidated statements of operations, to assess performance and allocate resources to support strategic priorities. Condensed consolidated net income is our segment’s primary measure of profit. 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 income include other income (expense), net and income tax provision (benefit). 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):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
United States$577,036 $688,409 $1,107,694 $1,427,799 
Rest of the world283,966 497,489 531,793 810,995 
Total revenue$861,002 $1,185,898 $1,639,487 $2,238,794 

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 2026
Second Quarter of Fiscal 2027
United States$569,932 $661,089 
Rest of the world17,090 26,861 
Total long-lived assets$587,022 $687,950 
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Aug. 02, 2026
shares
Trading Arrangements, by Individual  
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Mallun Yen [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
On July 7, 2026, Mallun Yen, a member of our Board of Directors, adopted a Rule 10b5-1 trading plan that is intended to satisfy the affirmative defense of Rule 10b5-1(C). The plan provides for the sale of up to 11,942 shares of our common stock until the earlier of December 31, 2026, or when all shares under Ms. Yen's plans are sold.
Name Mallun Yen
Title member of our Board of Directors
Rule 10b5-1 Arrangement Adopted true
Adoption Date July 7, 2026
Expiration Date December 31, 2026
Arrangement Duration 177 days
Aggregate Available 11,942
v3.26.1
Basis of Presentation and Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Aug. 02, 2026
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 2026 was February 1, 2026 and for fiscal 2027 will be January 31, 2027. The second quarter of fiscal 2026 and 2027 ended on August 3, 2025 and August 2, 2026. 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 2026.
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 income 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 2027 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, and fair value of intangible assets and goodwill acquired through business combination. 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 certain employee-related benefits.
Business Combination
Business Combination
We allocate the purchase price to the assets acquired and liabilities assumed based on their estimated fair values. The excess of the purchase price over the fair values of the assets acquired and liabilities assumed is recorded as goodwill. During the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the estimated fair value of the assets acquired and liabilities assumed, with the corresponding offset to goodwill. The results of operations of an acquired business is included in our condensed consolidated financial statements from the date of acquisition. Acquisition-related expenses are expensed as incurred.
Recent Accounting Pronouncements Not Yet Adopted
Recent Accounting Pronouncements Not Yet Adopted
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 standard on our financial statement disclosures.
In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use-Software, which amends the cost capitalization criteria for internal-use software development costs by removing all references to software project development stages and providing new guidance on how to evaluate whether the probable-to-complete recognition threshold has been met. The new standard can be applied on either a fully retrospective, modified transition, or prospective basis. ASU 2025-06 will be effective for our fiscal years beginning after fiscal 2028 and interim periods within those fiscal years, with early adoption permitted. We are currently evaluating the impact of this standard on our consolidated financial statements.
In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements, which clarifies that the interim reporting requirements in Topic 270 apply to all entities that issue interim financial statements prepared in accordance with U.S. GAAP and consolidates such requirements within Topic 270. The amendments provide a comprehensive list within Topic 270 of required interim disclosures, establish a principle requiring disclosure of events or changes occurring after the end of the most recent annual reporting period that have a material impact on interim results, and clarifies the form and content requirements applicable to interim financial statements. ASU 2025-11 will be effective for our fiscal year beginning February 7, 2028, with early adoption permitted. We do not expect the adoption of this guidance to have a material impact on our consolidated financial statements and related 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.
v3.26.1
Business Combination - (Tables)
 6 Months Ended
Aug. 02, 2026
Business Combination [Abstract]  
Schedule of Purchase Price Allocation
The following table sets forth the components of identifiable intangible assets acquired and their useful lives by major class of intangible assets as of the acquisition date (in thousands):
Useful LivesAs of May 7, 2026
Customer relationships7 years$5,500 
Developed technology6 years9,200 
In-progress research and development (1)
N/A2,800 
Customer contract backlog (2)
3 years2,000 
Total intangible assets acquired$19,500 
_________________________________
(1) In-progress research and development will be amortized over the estimated useful life once developments are complete.
(2) Customer contract backlog represents the value of signed contracts for which services have not yet been performed or billed.
v3.26.1
Financial Instruments (Tables)
 6 Months Ended
Aug. 02, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash Equivalents, Marketable Securities and Restricted Cash
The following tables summarize these assets by significant investment categories and their classification within the fair value hierarchy and in our condensed consolidated balance sheets at the end of fiscal 2026 and the second quarter of fiscal 2027 (in thousands):
At the End of Fiscal 2026
Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Cash
Equivalents
Marketable
Securities
Level 1
Money market accounts$— $— $— $297,462 $297,462 $— 
Level 2
U.S. government treasury notes289,069 790 (95)289,764 19,387 270,377 
U.S. government agencies9,194 148 (1)9,341 — 9,341 
Corporate debt securities335,347 2,341 (1)337,687 — 337,687 
Foreign government bonds6,555 3 — 6,558 — 6,558 
Asset-backed securities47,768 324 — 48,092 — 48,092 
Municipal bonds20,381 18 (8)20,391 — 20,391 
Total$708,314 $3,624 $(105)$1,009,295 $316,849 $692,446 
At the End of the Second Quarter of Fiscal 2027
Amortized
Cost		Gross Unrealized
Gains		Gross Unrealized
Losses		Fair
Value
Cash
Equivalents
Marketable
Securities
Level 1
Money market accounts$— $— $— $250,187 $250,187 $— 
Level 2
U.S. government treasury notes287,127 62 (2,315)284,874 7,478 277,396 
U.S. government agencies7,372 5 (34)7,343 — 7,343 
Corporate debt securities285,180 355 (664)284,871 — 284,871 
Foreign government bonds3,149 — (6)3,143 — 3,143 
Asset-backed securities34,421 25 (68)34,378 — 34,378 
Municipal bonds15,168 — (102)15,066 — 15,066 
Total$632,417 $447 $(3,189)$879,862 $257,665 $622,197 
Schedule of Amortized Cost and Estimated Fair Value
The amortized cost and estimated fair value of our marketable securities are shown below by contractual maturity (in thousands):
At the End of the Second Quarter of Fiscal 2027
Amortized CostFair Value
Due within one year$176,724 $176,940 
Due in one to five years445,387 442,434 
Due in five to ten years2,828 2,823 
Total$624,939 $622,197 
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 2026 and the second quarter of fiscal 2027, aggregated by investment category (in thousands):
At the End of Fiscal 2026
Less than 12 months
Fair
Value		Unrealized
Loss
U.S. government treasury notes$85,422 $(95)
U.S. government agencies2,999 (1)
Corporate debt securities942 (1)
Foreign government bonds2,970 — 
Municipal bonds6,610 (8)
Total$98,943 $(105)

At the End of the Second Quarter of Fiscal 2027
Less than 12 months
Fair
Value		Unrealized
Loss
U.S. government treasury notes$235,913 $(2,315)
U.S. government agencies4,146 (34)
Corporate debt securities117,722 (664)
Foreign government bonds3,143 (6)
Asset-backed securities23,539 (68)
Municipal bonds14,867 (102)
Total$399,330 $(3,189)
v3.26.1
Balance Sheet Components (Tables)
 6 Months Ended
Aug. 02, 2026
Balance Sheet Components Disclosure [Abstract]  
Schedule of Inventory
Inventory consists of the following (in thousands):
At the End of
Fiscal 2026
Second Quarter of Fiscal 2027
Raw materials$39,970 $81,933 
Finished goods35,965 24,367 
Inventory$75,935 $106,300 
Schedule of Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consist of the following (in thousands):
At the End of
Fiscal 2026
Second Quarter of Fiscal 2027
Prepaid expenses$80,283 $83,044 
Other receivables (1)
249,990 903,723 
Other current assets25,742 38,878 
Total prepaid expenses and other current assets$356,015 $1,025,645 
_________________________________
(1) Primarily consists of receivables from our contract manufacturers for component purchases made and sold to our contract manufacturers and tax-related receivables.
Schedule of Property and Equipment, Net
Property and equipment, net consists of the following (in thousands):
 
At the End of
Fiscal 2026
Second Quarter of Fiscal 2027
Test and infrastructure equipment (1)
$499,903 $509,562 
Computer equipment and software488,355 599,292 
Furniture and fixtures14,609 17,093 
Leasehold improvements114,510 123,243 
Capitalized software development costs95,301 108,934 
Total property and equipment1,212,678 1,358,124 
Less: accumulated depreciation and amortization(625,656)(670,174)
Property and equipment, net$587,022 $687,950 
_________________________________
(1) Includes finance lease right-of-use assets. Refer to Note 9.
Schedule of Intangible Assets, Net
Intangible assets, net consist of the following (in thousands):
 
At the End of
Fiscal 2026
Second Quarter of Fiscal 2027
Gross Carrying ValueAccumulated AmortizationNet Carrying AmountGross Carrying ValueAccumulated AmortizationNet Carrying Amount
Technology patents$20,875 $(19,370)$1,505 $20,875 $(20,043)$832 
Developed technology84,536 (80,506)4,030 93,736 (82,522)11,214 
Customer relationships6,459 (4,928)1,531 11,959 (5,576)6,383 
In-progress research and development— — — 2,800 — 2,800 
Customer contract backlog— — — 2,000 (161)1,839 
Trade name and trademarks (1)
3,903 (3,623)280 3,893 (3,623)270 
Intangible assets, net$115,773 $(108,427)$7,346 $135,263 $(111,925)$23,338 
 _________________________________
(1) Includes direct costs to obtain these indefinite-lived assets in connection with our name change in February 2026.
Schedule of Expected Amortization Expenses for Intangible Assets
At the end of the second quarter of fiscal 2027, future expected amortization expense for intangible assets is as follows (in thousands):
Fiscal Years EndingEstimated Future
Amortization Expense
Remainder of 2027$2,514 
20284,800 
20293,843 
20302,904 
20312,504 
Thereafter
3,703 
Total$20,268 
Schedule of Goodwill
The change in the carrying amount of goodwill is as follows (in thousands):
Amount
Balance at the end of fiscal 2026$365,075 
Goodwill acquired
101,238 
Balance at the end of the second quarter of fiscal 2027
$466,313 
Schedule of Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consist of the following (in thousands):
At the End of
Fiscal 2026
Second Quarter of Fiscal 2027
Taxes payable$14,044 $17,118 
Accrued sales, marketing and partner liabilities67,563 69,653 
Engineering-related accruals (1)
6,352 7,655 
Supply chain-related accruals (2)
12,961 17,256 
Accrued service logistics and professional services13,570 16,095 
Customer deposits from contracts with customers32,905 28,555 
Other accrued liabilities36,943 36,245 
Total accrued expenses and other liabilities$184,338 $192,577 
_________________________________
(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.
v3.26.1
Deferred Revenue and Commissions (Tables)
 6 Months Ended
Aug. 02, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Deferred Commissions
Changes in total deferred commissions during the periods presented are as follows (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
Beginning balance
$332,277 $432,249 $328,620 $419,569 
Additions53,100 82,097 99,027 167,167 
Recognition of deferred commissions(45,362)(67,452)(87,632)(139,842)
Ending balance$340,015 $446,894 $340,015 $446,894 
Schedule of Deferred Revenue
Changes in total deferred revenue during the periods presented are as follows (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
Beginning balance
$1,827,545 $2,377,357 $1,795,303 $2,227,497 
Additions495,801 629,356 923,488 1,276,386 
Recognition of deferred revenue(412,282)(485,442)(807,727)(982,612)
Ending balance$1,911,064 $2,521,271 $1,911,064 $2,521,271 
v3.26.1
Leases (Tables)
 6 Months Ended
Aug. 02, 2026
Leases [Abstract]  
Schedule of Components of Lease Cost
The components of operating lease costs during the periods presented were as follows (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
Fixed operating lease cost$13,407 $14,199 $26,274 $28,029 
Variable lease cost (1)
3,749 2,602 5,782 5,974 
Short-term lease cost (12 months or less)1,177 1,129 2,303 2,490 
Total lease cost$18,333 $17,930 $34,359 $36,493 
____________________________________
(1) Variable lease cost predominantly included common area maintenance charges.
Supplemental information related to operating leases is as follows (in thousands):
At the End of
Fiscal 2026
Second Quarter of Fiscal 2027
Operating leases:
Weighted-average remaining lease term (in years)4.75.0
Weighted-average discount rate6.5 %5.6 %
Schedule of Cash Flow, Supplemental Disclosures
Supplemental cash flow information related to operating leases is as follows (in thousands):
First Two Quarters of Fiscal
20262027
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows for operating leases$29,384 $27,510 
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases$65,461 $36,794 
Schedule of Future Lease Payments Under Non-Cancelable Leases
Future lease payments under our non-cancelable operating leases at the end of the second quarter of fiscal 2027 are as follows (in thousands):
Fiscal Years EndingOperating Leases
Remainder of 2027$9,776 
202865,211 
202956,265 
203053,277 
203144,733 
Thereafter33,685 
Total future lease payments262,947 
Less: imputed interest(37,640)
Present value of total lease liabilities$225,307 
Schedule of Sales-Type Leases, Payment to be Received, Maturity
Future minimum gross lease payments allocated to the sales-type leases and operating lease components are as follows (in thousands). The remaining lease payments of $184.3 million allocated to the non-lease components are excluded from the table below.
Fiscal Years EndingSales-Type LeasesOperating Lease
Remainder of 2027$11,385 $7,509 
202822,589 11,452 
202926,238 5,743 
203032,414 597 
203133,011 — 
Thereafter41,568 — 
Total future lease payments to be received
$167,205 $25,301 
Schedule of Lessor, Operating Lease, Payment to be Received, Maturity
Future minimum gross lease payments allocated to the sales-type leases and operating lease components are as follows (in thousands). The remaining lease payments of $184.3 million allocated to the non-lease components are excluded from the table below.
Fiscal Years EndingSales-Type LeasesOperating Lease
Remainder of 2027$11,385 $7,509 
202822,589 11,452 
202926,238 5,743 
203032,414 597 
203133,011 — 
Thereafter41,568 — 
Total future lease payments to be received
$167,205 $25,301 
v3.26.1
Stockholders' Equity (Tables)
 6 Months Ended
Aug. 02, 2026
Equity [Abstract]  
Schedule of Repurchase Agreements
The following table summarizes the stock repurchase activity for the second quarter and first two quarters of fiscal 2026 and 2027 (in thousands except for per share amounts):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
Number of shares repurchased and retired
772 932 3,264 2,214 
Average price per share (1)
$54.70 $74.01 $49.66 $69.13 
Aggregate purchase price (1)
$42,227 $68,962 $162,114 $153,039 
____________________________________
(1) Excludes transaction costs that are included in the repurchases of common stock on the condensed consolidated statements of cash flows.
v3.26.1
Equity Incentive Plans (Tables)
 6 Months Ended
Aug. 02, 2026
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 20261,142,394 $13.80 1.7$64,144 
Options exercised(1,074,224)14.12 
Balance at the end of the second quarter of fiscal 2027
68,170 $1.89 3.4$5,132 
Vested and exercisable at the end of the second quarter of fiscal 2027
68,170 $1.89 3.4$5,132 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of the RSUs 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 2026
17,340,284 $44.32 $1,205,843 
Granted
8,064,353 68.38 
Vested(4,632,816)40.37 
Forfeited or canceled (1)
(961,873)50.00 
Unvested balance at the end of the second quarter of fiscal 2027
19,809,948 $54.76 $1,528,734 
_________________________________
(1) Represents the number of shares granted under the RSU awards that were forfeited due to termination of employment or canceled.
Schedule of Share-Based Payment Arrangement, Performance Restricted Stock Unit, Activity
A summary of the PRSUs and LTP Awards activity under our 2015 Plan and related information is as follows:
PRSUs and LTP Awards
Number of
Shares Outstanding		Weighted-
Average
Grant Date
Fair Value		Aggregate
Intrinsic
Value (in thousands)
Unvested balance at the end of fiscal 2026
6,817,793 $29.26 $474,109 
Granted2,942,173 63.30 
Vested and earned (1)
(1,351,984)52.20 
Forfeited (2)
(569,660)27.86 
Unvested balance at the end of the second quarter of fiscal 2027
7,838,322 $38.18 $604,883 
____________________________________
(1) Represents the number of shares earned in which the service condition has also been satisfied.
(2) Represents the number of shares granted under the PRSU and LTP awards that were forfeited due to termination of employment.
Schedule of Components of Stock-Based Compensation
The following table summarizes the components of stock-based compensation expense recognized in the condensed consolidated statements of operations (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
Cost of revenue—product$4,149 $5,336 $7,415 $9,468 
Cost of revenue—subscription services8,559 10,287 15,721 18,442 
Research and development
60,354 80,010 109,596 140,341 
Sales and marketing26,527 33,461 48,611 62,624 
General and administrative17,804 30,721 32,325 51,004 
Total stock-based compensation expense, net of amounts capitalized (1)
$117,393 $159,815 $213,668 $281,879 
_________________________________
(1) Stock-based compensation expense capitalized was $2.1 million and $2.4 million during the second quarter of fiscal 2026 and 2027, and $4.0 million and $4.5 million during the first two quarters of fiscal 2026 and 2027.
v3.26.1
Net Income per Share Attributable to Common Stockholders (Tables)
 6 Months Ended
Aug. 02, 2026
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Net Income per Share Attributable to Common Stockholders
The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders (in thousands, except per share data):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
Numerator:
Net income$47,118 $74,149 $33,123 $98,227 
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders, basic327,594 332,942 327,066 332,047 
Add: dilutive effect of common stock equivalents10,140 12,645 10,240 12,764 
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted337,734 345,587 337,306 344,811 
Net income per share attributable to common stockholders, basic$0.14 $0.22 $0.10 $0.30 
Net income per share attributable to common stockholders, diluted$0.14 $0.21 $0.10 $0.28 
Schedule of Weighted-average Outstanding Shares Excluded from Computation of Diluted Net Income (Loss) per Share Attributable to Common Stockholders
The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net income per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive (in thousands):
 
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
Unvested RSUs and PRSUs
676 127 746 980 
v3.26.1
Other Income (Expense), Net (Tables)
 6 Months Ended
Aug. 02, 2026
Other Income and Expenses [Abstract]  
Schedule of Other Income (Expense)
Other income (expense), net consists of the following (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
Interest income (1)
$15,665 $11,279 $32,541 $25,583 
Interest expense (2)
(1,051)(292)(2,858)(531)
Foreign currency transactions gains (losses)1,889 (3,268)16,368 (6,300)
Other income (3)
29,197 1,287 31,304 4,185 
Total other income (expense), net$45,700 $9,006 $77,355 $22,937 
____________________________________
(1) 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) Includes non-cash interest expense related to amortization of issuance costs, contractual interest expense related to our debt and accretion of our finance lease liabilities.
(3) Includes unrealized gain of $28.0 million and $30.4 million for an equity security in the second quarter and first two quarters of fiscal 2026.
v3.26.1
Segment Information and Geographic Areas (Tables)
 6 Months Ended
Aug. 02, 2026
Segment Reporting [Abstract]  
Schedule of Revenue by Geographic Area
The following table depicts the disaggregation of revenue by geographic area based on the billing address of our customers and is consistent with how we evaluate our financial performance (in thousands):
Second Quarter of Fiscal
First Two Quarters of Fiscal
2026202720262027
United States$577,036 $688,409 $1,107,694 $1,427,799 
Rest of the world283,966 497,489 531,793 810,995 
Total revenue$861,002 $1,185,898 $1,639,487 $2,238,794 
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 2026
Second Quarter of Fiscal 2027
United States$569,932 $661,089 
Rest of the world17,090 26,861 
Total long-lived assets$587,022 $687,950 
v3.26.1
Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($)
$ in Millions
Aug. 02, 2026
Feb. 01, 2026
Accounting Policies [Abstract]    
Restricted cash $ 10.7 $ 10.1
Restricted cash, included in prepaid expenses and other current assets $ 2.5 $ 2.4
v3.26.1
Business Combination - Narrative (Details) - USD ($)
$ in Thousands
May 07, 2026
Aug. 02, 2026
Feb. 01, 2026
Business Combination [Line Items]      
Goodwill   $ 466,313 $ 365,075
1touch Acquisition      
Business Combination [Line Items]      
Cash consideration $ 125,900    
Total intangible assets acquired 19,500    
Goodwill $ 101,200    
v3.26.1
Business Combination - Components of Identifiable Assets Acquired (Details) - 1touch Acquisition
$ in Thousands
May 07, 2026
USD ($)
Business Combination [Line Items]  
Total intangible assets acquired $ 19,500
Customer relationships  
Business Combination [Line Items]  
Useful Lives 7 years
Total intangible assets acquired $ 5,500
Developed technology  
Business Combination [Line Items]  
Useful Lives 6 years
Total intangible assets acquired $ 9,200
In-progress research and development  
Business Combination [Line Items]  
Total intangible assets acquired $ 2,800
Customer contract backlog  
Business Combination [Line Items]  
Useful Lives 3 years
Total intangible assets acquired $ 2,000
v3.26.1
Financial Instruments - Cash Equivalents, Marketable Securities and Restricted Cash (Details) - USD ($)
$ in Thousands
Aug. 02, 2026
Feb. 01, 2026
Debt Securities, Available-for-Sale [Abstract]    
Amortized Cost $ 624,939  
Total 622,197  
Cash Equivalents 257,665 $ 316,849
Marketable Securities 622,197 692,446
Total amortized cost 632,417 708,314
Total gross unrealized gains 447 3,624
Total gross unrealized losses (3,189) (105)
Total fair value 879,862 1,009,295
Level 1 | Money market accounts    
Debt Securities, Available-for-Sale [Abstract]    
Total 250,187 297,462
Cash Equivalents 250,187 297,462
Marketable Securities 0 0
Level 2 | U.S. government treasury notes    
Debt Securities, Available-for-Sale [Abstract]    
Amortized Cost 287,127 289,069
Gross Unrealized Gains 62 790
Gross Unrealized Losses (2,315) (95)
Total 284,874 289,764
Cash Equivalents 7,478 19,387
Marketable Securities 277,396 270,377
Level 2 | U.S. government agencies    
Debt Securities, Available-for-Sale [Abstract]    
Amortized Cost 7,372 9,194
Gross Unrealized Gains 5 148
Gross Unrealized Losses (34) (1)
Total 7,343 9,341
Cash Equivalents 0 0
Marketable Securities 7,343 9,341
Level 2 | Corporate debt securities    
Debt Securities, Available-for-Sale [Abstract]    
Amortized Cost 285,180 335,347
Gross Unrealized Gains 355 2,341
Gross Unrealized Losses (664) (1)
Total 284,871 337,687
Cash Equivalents 0 0
Marketable Securities 284,871 337,687
Level 2 | Foreign government bonds    
Debt Securities, Available-for-Sale [Abstract]    
Amortized Cost 3,149 6,555
Gross Unrealized Gains 0 3
Gross Unrealized Losses (6) 0
Total 3,143 6,558
Cash Equivalents 0 0
Marketable Securities 3,143 6,558
Level 2 | Asset-backed securities    
Debt Securities, Available-for-Sale [Abstract]    
Amortized Cost 34,421 47,768
Gross Unrealized Gains 25 324
Gross Unrealized Losses (68) 0
Total 34,378 48,092
Cash Equivalents 0 0
Marketable Securities 34,378 48,092
Level 2 | Municipal bonds    
Debt Securities, Available-for-Sale [Abstract]    
Amortized Cost 15,168 20,381
Gross Unrealized Gains 0 18
Gross Unrealized Losses (102) (8)
Total 15,066 20,391
Cash Equivalents 0 0
Marketable Securities $ 15,066 $ 20,391
v3.26.1
Financial Instruments - Amortized Cost and Estimated Fair Value (Details)
$ in Thousands
Aug. 02, 2026
USD ($)
Amortized Cost  
Due within one year $ 176,724
Due in one to five years 445,387
Due in five to ten years 2,828
Amortized Cost 624,939
Fair Value  
Due within one year 176,940
Due in one to five years 442,434
Due in five to ten years 2,823
Fair Value $ 622,197
v3.26.1
Financial Instruments - Narrative (Details) - USD ($)
 3 Months Ended 6 Months Ended
Aug. 02, 2026
Aug. 03, 2025
Aug. 02, 2026
Aug. 03, 2025
Feb. 01, 2026
Investments, Debt and Equity Securities [Abstract]          
Impairment charge for unrealized losses $ 0 $ 0 $ 0 $ 0  
Carrying amount of our strategic investments 15,100,000   15,100,000   $ 14,100,000
Defined contribution plan, plan liabilities, fair value $ 20,700,000   $ 20,700,000   $ 15,900,000
v3.26.1
Financial Instruments - Gross Unrealized Losses and Fair Values (Details) - USD ($)
$ in Thousands
Aug. 02, 2026
Feb. 01, 2026
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months $ 399,330 $ 98,943
Unrealized Loss, Less than 12 months (3,189) (105)
U.S. government treasury notes    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 235,913 85,422
Unrealized Loss, Less than 12 months (2,315) (95)
U.S. government agencies    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 4,146 2,999
Unrealized Loss, Less than 12 months (34) (1)
Corporate debt securities    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 117,722 942
Unrealized Loss, Less than 12 months (664) (1)
Foreign government bonds    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 3,143 2,970
Unrealized Loss, Less than 12 months (6) 0
Asset-backed securities    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 23,539  
Unrealized Loss, Less than 12 months (68)  
Municipal bonds    
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract]    
Fair Value, Less than 12 months 14,867 6,610
Unrealized Loss, Less than 12 months $ (102) $ (8)
v3.26.1
Balance Sheet Components - Inventory (Details) - USD ($)
$ in Thousands
Aug. 02, 2026
Feb. 01, 2026
Balance Sheet Components Disclosure [Abstract]    
Raw materials $ 81,933 $ 39,970
Finished goods 24,367 35,965
Inventory $ 106,300 $ 75,935
v3.26.1
Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($)
$ in Thousands
Aug. 02, 2026
Feb. 01, 2026
Balance Sheet Components Disclosure [Abstract]    
Prepaid expenses $ 83,044 $ 80,283
Other receivables 903,723 249,990
Other current assets 38,878 25,742
Total prepaid expenses and other current assets $ 1,025,645 $ 356,015
v3.26.1
Balance Sheet Components - Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Aug. 02, 2026
Feb. 01, 2026
Property Plant And Equipment [Line Items]    
Total property and equipment $ 1,358,124 $ 1,212,678
Less: accumulated depreciation and amortization (670,174) (625,656)
Property and equipment, net 687,950 587,022
Test and infrastructure equipment    
Property Plant And Equipment [Line Items]    
Total property and equipment 509,562 499,903
Computer equipment and software    
Property Plant And Equipment [Line Items]    
Total property and equipment 599,292 488,355
Furniture and fixtures    
Property Plant And Equipment [Line Items]    
Total property and equipment 17,093 14,609
Leasehold improvements    
Property Plant And Equipment [Line Items]    
Total property and equipment 123,243 114,510
Capitalized software development costs    
Property Plant And Equipment [Line Items]    
Total property and equipment $ 108,934 $ 95,301
v3.26.1
Balance Sheet Components - Narrative (Details) - USD ($)
 3 Months Ended 6 Months Ended
Aug. 02, 2026
Aug. 03, 2025
Aug. 02, 2026
Aug. 03, 2025
Intangible Asset, Finite-Lived [Line Items]        
Depreciation and amortization $ 41,000,000.0 $ 32,600,000 $ 79,800,000 $ 62,900,000
Intangible assets amortization expense 1,500,000 4,000,000.0 3,500,000 8,000,000.0
Impairments to goodwill $ 0 $ 0 $ 0 $ 0
Technology patents        
Intangible Asset, Finite-Lived [Line Items]        
Useful life (in years) 2 months 12 days      
Developed technology        
Intangible Asset, Finite-Lived [Line Items]        
Useful life (in years) 8 months 12 days      
Customer relationships        
Intangible Asset, Finite-Lived [Line Items]        
Useful life (in years) 3 years 8 months 12 days      
Customer contract backlog        
Intangible Asset, Finite-Lived [Line Items]        
Useful life (in years) 2 years 9 months 18 days      
v3.26.1
Balance Sheet Components - Intangible Assets, Net (Details) - USD ($)
$ in Thousands
Aug. 02, 2026
Feb. 01, 2026
Finite-Lived Intangible Assets:    
Net Carrying Amount $ 20,268  
Indefinite and Finite-Lived Intangible Assets:    
Intangible Asset, Excluding Goodwill, before Accumulated Amortization 135,263 $ 115,773
Intangible Assets (Excluding Goodwill), Accumulated Amortization (111,925) (108,427)
Intangible assets, net 23,338 7,346
Trade name and trademarks    
Indefinite and Finite-Lived Intangible Assets:    
Gross Carrying Value 3,893 3,903
Accumulated Amortization (3,623) (3,623)
Net Carrying Amount 270 280
Technology patents    
Finite-Lived Intangible Assets:    
Gross Carrying Value 20,875 20,875
Accumulated Amortization (20,043) (19,370)
Net Carrying Amount 832 1,505
Developed technology    
Finite-Lived Intangible Assets:    
Gross Carrying Value 93,736 84,536
Accumulated Amortization (82,522) (80,506)
Net Carrying Amount 11,214 4,030
Customer relationships    
Finite-Lived Intangible Assets:    
Gross Carrying Value 11,959 6,459
Accumulated Amortization (5,576) (4,928)
Net Carrying Amount 6,383 1,531
In-progress research and development    
Finite-Lived Intangible Assets:    
Gross Carrying Value 2,800 0
Accumulated Amortization 0 0
Net Carrying Amount 2,800 0
Customer contract backlog    
Finite-Lived Intangible Assets:    
Gross Carrying Value 2,000 0
Accumulated Amortization (161) 0
Net Carrying Amount $ 1,839 $ 0
v3.26.1
Balance Sheet Components - Expected Amortization Expenses for Intangible Assets (Details)
$ in Thousands
Aug. 02, 2026
USD ($)
Balance Sheet Components Disclosure [Abstract]  
Remainder of 2027 $ 2,514
2028 4,800
2029 3,843
2030 2,904
2031 2,504
Thereafter 3,703
Net Carrying Amount $ 20,268
v3.26.1
Balance Sheet Components - Goodwill (Details)
$ in Thousands
 6 Months Ended
Aug. 02, 2026
USD ($)
Goodwill [Roll Forward]  
Goodwill, beginning balance $ 365,075
Goodwill acquired 101,238
Goodwill, ending balance $ 466,313
v3.26.1
Balance Sheet Components - Accrued Expenses and Other Liabilities (Details) - USD ($)
$ in Thousands
Aug. 02, 2026
Feb. 01, 2026
Balance Sheet Components Disclosure [Abstract]    
Taxes payable $ 17,118 $ 14,044
Accrued sales, marketing and partner liabilities 69,653 67,563
Engineering-related accruals 7,655 6,352
Supply chain-related accruals 17,256 12,961
Accrued service logistics and professional services 16,095 13,570
Customer deposits from contracts with customers 28,555 32,905
Other accrued liabilities 36,245 36,943
Total accrued expenses and other liabilities $ 192,577 $ 184,338
v3.26.1
Deferred Revenue and Commissions - Deferred Commissions (Details) - USD ($)
 3 Months Ended 6 Months Ended
Aug. 02, 2026
Aug. 03, 2025
Aug. 02, 2026
Aug. 03, 2025
Deferred Commissions [Roll Forward]        
Beginning balance $ 432,249,000 $ 332,277,000 $ 419,569,000 $ 328,620,000
Additions 82,097,000 53,100,000 167,167,000 99,027,000
Recognition of deferred commissions (67,452,000) (45,362,000) (139,842,000) (87,632,000)
Ending balance $ 446,894,000 340,015,000 $ 446,894,000 340,015,000
Commission expected to be recognized over the next 12 months (percent) 34.00%   34.00%  
Commission recognition period 12 months      
Impairment of capitalized commissions $ 0 $ 0 $ 0 $ 0
v3.26.1
Deferred Revenue and Commissions - Deferred Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 02, 2026
Aug. 03, 2025
Aug. 02, 2026
Aug. 03, 2025
Contract Liability        
Additions $ 82,097 $ 53,100 $ 167,167 $ 99,027
Recognition of deferred revenue (67,452) (45,362) (139,842) (87,632)
Deferred revenue recognized 419,400 344,400 858,600 586,600
Product Revenue and Support Subscription Revenue        
Contract Liability        
Beginning balance 2,377,357 1,827,545 2,227,497 1,795,303
Additions 629,356 495,801 1,276,386 923,488
Recognition of deferred revenue (485,442) (412,282) (982,612) (807,727)
Ending balance $ 2,521,271 $ 1,911,064 $ 2,521,271 $ 1,911,064
v3.26.1
Deferred Revenue and Commissions - Remaining Performance Obligation (Details)
$ in Millions
Aug. 02, 2026
USD ($)
Revenue from Contract with Customer [Abstract]  
Contracted but not recognized revenue $ 4,100.0
Lessor arrangement $ 44.5
v3.26.1
Deferred Revenue and Commissions - Remaining Performance Obligation Period (Details)
Aug. 02, 2026
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-08-03  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue expected to be recognized (as a percent) 42.00%
Revenue expected to be recognized term (in months) 12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-08-03  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue expected to be recognized (as a percent) 58.00%
Revenue expected to be recognized term (in months)
v3.26.1
Debt (Details) - USD ($)
 1 Months Ended
Jun. 10, 2025
Jun. 30, 2025
Aug. 02, 2026
May 31, 2025
Revolving Credit Facility        
Debt Instrument [Line Items]        
Term of credit facility   5 years    
Senior secured revolving credit facility maximum capacity   $ 500,000,000.0    
Consolidated leverage ratio, maximum   3.5    
Consolidated leverage ratio, maximum for first six consecutive quarters following a qualified acquisition   4    
Outstanding borrowings     $ 0  
Revolving Credit Facility | Base Rate | Interest Rate Floor        
Debt Instrument [Line Items]        
Effective interest rate (percent)   0.00%    
Revolving Credit Facility | Secured Overnight Financing Rate | Interest Rate Floor        
Debt Instrument [Line Items]        
Effective interest rate (percent)   0.00%    
Revolving Credit Facility | Minimum        
Debt Instrument [Line Items]        
Commitment fee (percent)   0.075%    
Revolving Credit Facility | Minimum | Base Rate        
Debt Instrument [Line Items]        
Margin rate (percent)   0.00%    
Revolving Credit Facility | Minimum | Secured Overnight Financing Rate        
Debt Instrument [Line Items]        
Margin rate (percent)   0.875%    
Revolving Credit Facility | Maximum        
Debt Instrument [Line Items]        
Commitment fee (percent)   0.20%    
Revolving Credit Facility | Maximum | Base Rate        
Debt Instrument [Line Items]        
Margin rate (percent)   0.50%    
Revolving Credit Facility | Maximum | Secured Overnight Financing Rate        
Debt Instrument [Line Items]        
Margin rate (percent)   1.50%    
Previous Revolving Credit Facility        
Debt Instrument [Line Items]        
Senior secured revolving credit facility maximum capacity       $ 300,000,000.0
Repayment of previous credit facility $ 100,000,000.0      
v3.26.1
Commitments and Contingencies (Details) - USD ($)
Aug. 02, 2026
Feb. 01, 2026
Line of Credit Facility [Line Items]    
Outstanding letters of credit $ 16,600,000 $ 13,000,000.0
Purchase obligation 1,100,000,000  
Loss contingency 0  
Revolving Credit Facility    
Line of Credit Facility [Line Items]    
Outstanding letters of credit $ 4,900,000 $ 2,000,000.0
v3.26.1
Leases - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 02, 2026
Aug. 03, 2025
Aug. 02, 2026
Aug. 03, 2025
Lessee, Lease, Description [Line Items]        
Aggregate lease payments $ 262,947   $ 262,947  
Lessor arrangement, term of contract 7 years      
Non-cancelable lease payments receivable, net     377,000  
Sales-type lease, revenue $ 8,900 $ 0 38,100 $ 0
Sales-type lease, selling profit 6,900   33,900  
Subscription and non-lease components of service revenue $ 12,200 $ 4,800 $ 27,300 $ 12,000
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  
Headquarters Office and Data Center        
Lessee, Lease, Description [Line Items]        
Aggregate lease payments $ 385,800   $ 385,800  
Headquarters Office and Data Center | Minimum        
Lessee, Lease, Description [Line Items]        
Operating lease, term of contract 5 years   5 years  
Headquarters Office and Data Center | Maximum        
Lessee, Lease, Description [Line Items]        
Operating lease, term of contract 12 years   12 years  
v3.26.1
Leases - Lease Costs (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 02, 2026
Aug. 03, 2025
Aug. 02, 2026
Aug. 03, 2025
Leases [Abstract]        
Fixed operating lease cost $ 14,199 $ 13,407 $ 28,029 $ 26,274
Variable lease cost 2,602 3,749 5,974 5,782
Short-term lease cost (12 months or less) 1,129 1,177 2,490 2,303
Total lease cost $ 17,930 $ 18,333 $ 36,493 $ 34,359
v3.26.1
Leases - Lease Term and Discount Rate (Details)
Aug. 02, 2026
Feb. 01, 2026
Operating leases:    
Weighted-average remaining lease term (in years) 5 years 4 years 8 months 12 days
Weighted-average discount rate 5.60% 6.50%
v3.26.1
Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($)
$ in Thousands
 6 Months Ended
Aug. 02, 2026
Aug. 03, 2025
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash outflows for operating leases $ 27,510 $ 29,384
Right-of-use assets obtained in exchange for lease liabilities:    
Operating leases $ 36,794 $ 65,461
v3.26.1
Leases - Future Lease Payments (Details)
$ in Thousands
Aug. 02, 2026
USD ($)
Operating Leases  
Remainder of 2027 $ 9,776
2028 65,211
2029 56,265
2030 53,277
2031 44,733
Thereafter 33,685
Total future lease payments 262,947
Less: imputed interest (37,640)
Present value of total lease liabilities $ 225,307
v3.26.1
Leases - Future Minimum Lease Payments on Lease Receivables (Details)
$ in Thousands
Aug. 02, 2026
USD ($)
Leases [Abstract]  
Non-lease components of remaining amount $ 184,300
Sales-Type Leases  
Remainder of 2027 11,385
2028 22,589
2029 26,238
2030 32,414
2031 33,011
Thereafter 41,568
Total future lease payments to be received 167,205
Operating Lease  
Remainder of 2027 7,509
2028 11,452
2029 5,743
2030 597
2031 0
Thereafter 0
Total future lease payments to be received $ 25,301
v3.26.1
Stockholders' Equity - Narrative (Details)
$ / shares in Units, $ in Millions
Aug. 02, 2026
USD ($)
stock_class
$ / shares
shares
Feb. 01, 2026
$ / shares
shares
Class of Stock [Line Items]    
Preferred stock, shares authorized (in shares) 20,000,000 20,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Number of classes of stock | stock_class 2  
Common stock, shares authorized (in shares) 2,250,000,000 2,250,000,000
Authorized amount remaining under stock repurchase program | $ $ 176.0  
Common Stock | Board of Directors    
Class of Stock [Line Items]    
Share repurchase program, authorized amount | $ $ 1,800.0  
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) 333,324,000 330,353,000
Common stock, shares outstanding (in shares) 333,324,000 330,353,000
Class B common stock    
Class of Stock [Line Items]    
Common stock, shares authorized (in shares) 250,000,000 250,000,000
Common stock, par value per share (in dollars per share) | $ / shares $ 0.0001 $ 0.0001
v3.26.1
Stockholders' Equity - Stock Repurchase Activity (Details) - Common Stock - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Aug. 02, 2026
Aug. 03, 2025
Aug. 02, 2026
Aug. 03, 2025
Class of Stock [Line Items]        
Number of shares repurchased and retired (in shares) 932 772 2,214 3,264
Average price per share (in dollars per share) $ 74.01 $ 54.70 $ 69.13 $ 49.66
Aggregate purchase price $ 68,962 $ 42,227 $ 153,039 $ 162,114
v3.26.1
Equity Incentive Plans - Narrative (Details)
 3 Months Ended 6 Months Ended 12 Months Ended
Aug. 02, 2026
USD ($)
purchasePeriod
$ / shares
shares
Aug. 03, 2025
USD ($)
shares
Aug. 02, 2026
USD ($)
purchasePeriod
$ / shares
shares
Aug. 03, 2025
USD ($)
shares
Feb. 01, 2026
shares
Feb. 04, 2024
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Share-based payment arrangement, expense $ 159,815,000 $ 117,393,000 $ 281,879,000 $ 213,668,000    
Restricted Stock Units            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Share-based payment arrangement, expense 103,600,000 89,100,000 $ 189,200,000 166,300,000    
Compensation cost (in years)     3 years      
Compensation not yet recognized 1,000,000,000.0   $ 1,000,000,000.0      
Granted (in shares) | shares     8,064,353      
PRSUs            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period (in years)     3 years      
Long-Term Performance Incentive RSUs            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Granted (in shares) | shares     700,000   1,200,000 4,200,000
PRSUs and LTP Awards            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Share-based payment arrangement, expense 47,600,000 $ 21,600,000 $ 76,100,000 $ 33,200,000    
Compensation cost (in years)     2 years 7 months 6 days      
Compensation not yet recognized $ 249,900,000   $ 249,900,000      
Granted (in shares) | shares     2,942,173      
Class A common stock            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Closing price of stock (in dollars per share) | $ / shares $ 77.17   $ 77.17      
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   3 years 3 years
Share-based compensation arrangement, award requisite service period     3 years   3 years 3 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   5 years 5 years
Share-based compensation arrangement, award requisite service period     5 years   5 years 5 years
2015 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 equity awards (in shares) | shares 1,000,000.0 1,100,000 2,600,000 2,300,000    
Tax withholding on vesting of equity awards $ 74,300,000 $ 57,800,000 $ 175,300,000 $ 117,900,000    
2015 Equity Incentive Plan | Minimum            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period (in years)     2 years      
2015 Equity Incentive Plan | Maximum            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Vesting period (in years)     5 years      
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      
Purchase period, term     6 months      
Modification charge     $ 6,000,000.0 0    
Share-based payment arrangement, expense $ 8,600,000 $ 6,700,000 16,600,000 $ 14,200,000    
Unrecognized stock-based compensation expense $ 27,700,000   $ 27,700,000      
Compensation cost (in years)     1 year 1 month 6 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%      
Share cap for ESPP at purchase date (in shares) | shares 3,000   3,000      
Dollar cap per purchase period     $ 7,500      
Calendar year gap for ESPP contribution amount     $ 25,000      
Purchase price as percentage of fair market value of common stock     85.00%      
v3.26.1
Equity Incentive Plans - Equity Incentive Plans (Details) - USD ($)
$ / shares in Units, $ in Thousands
 6 Months Ended
Aug. 02, 2026
Feb. 01, 2026
Aug. 02, 2026
Number of Shares      
Beginning balance (in shares)     1,142,394
Options exercised (in shares)     (1,074,224)
Ending balance (in shares) 68,170 1,142,394 68,170
Vested and exercisable (in shares) 68,170   68,170
Weighted- Average Exercise Price      
Beginning balance (in dollars per share)     $ 13.80
Options exercised (in dollars per share)     14.12
Ending balance (in dollars per share) $ 1.89 $ 13.80 1.89
Weighted Average Exercise Price, Vested and exercisable (in dollars per share) $ 1.89   $ 1.89
Weighted- Average Remaining Contractual Life (in years)      
Weighted Average Remaining Contractual Life (in years)   1 year 8 months 12 days 3 years 4 months 24 days
Weighted Average Remaining Contractual Life (in years), Vested and exercisable 3 years 4 months 24 days    
Aggregate Intrinsic Value (in thousands)      
Aggregate Intrinsic Value $ 5,132 $ 64,144 $ 5,132
Aggregate Intrinsic Value, Vested and exercisable $ 5,132   $ 5,132
v3.26.1
Equity Incentive Plans - Restricted Stock Units (Details) - Unvested RSUs and PRSUs - USD ($)
$ / shares in Units, $ in Thousands
 6 Months Ended 12 Months Ended
Aug. 02, 2026
Feb. 01, 2026
Number of RSUs Outstanding    
Unvested, Beginning balance (in shares) 17,340,284  
Granted (in shares) 8,064,353  
Vested (in shares) (4,632,816)  
Forfeited or canceled (in shares) (961,873)  
Unvested, Ending balance (in shares) 19,809,948 17,340,284
Weighted- Average Grant Date Fair Value    
Beginning balance (in dollars per share) $ 44.32  
Granted (in dollars per share) 68.38  
Vested (in dollars per share) 40.37  
Forfeited and canceled (in dollars per share) 50.00  
Ending balance (in dollars per share) $ 54.76 $ 44.32
Aggregate intrinsic value $ 1,528,734 $ 1,205,843
v3.26.1
Equity Incentive Plans - Performance Restricted Stock Unit, Activity (Details) - PRSUs and LTP Awards - USD ($)
$ / shares in Units, $ in Thousands
 6 Months Ended 12 Months Ended
Aug. 02, 2026
Feb. 01, 2026
Number of RSUs Outstanding    
Unvested, Beginning balance (in shares) 6,817,793  
Granted (in shares) 2,942,173  
Vested and earned (in shares) (1,351,984)  
Forfeited (in shares) (569,660)  
Unvested, Ending balance (in shares) 7,838,322 6,817,793
Weighted- Average Grant Date Fair Value    
Beginning balance (in dollars per share) $ 29.26  
Granted (in dollars per share) 63.30  
Vested and earned (in dollars per share) 52.20  
Forfeited and canceled (in dollars per share) 27.86  
Ending balance (in dollars per share) $ 38.18 $ 29.26
Aggregate intrinsic value $ 604,883 $ 474,109
v3.26.1
Equity Incentive Plans - Stock-Based Compensation (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 02, 2026
Aug. 03, 2025
Aug. 02, 2026
Aug. 03, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense, net of amounts capitalized $ 159,815 $ 117,393 $ 281,879 $ 213,668
Share-based compensation expense 2,400 2,100 4,500 4,000
Location, Statement of Income, Balance [Axis]: us-gaap:CostOfGoodsAndServicesSold | Product        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense, net of amounts capitalized 5,336 4,149 9,468 7,415
Location, Statement of Income, Balance [Axis]: us-gaap:CostOfGoodsAndServicesSold | Subscription services        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense, net of amounts capitalized 10,287 8,559 18,442 15,721
Location, Statement of Income, Balance [Axis]: us-gaap:GeneralAndAdministrativeExpense        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense, net of amounts capitalized 30,721 17,804 51,004 32,325
Location, Statement of Income, Balance [Axis]: us-gaap:ResearchAndDevelopmentExpense        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense, net of amounts capitalized 80,010 60,354 140,341 109,596
Location, Statement of Income, Balance [Axis]: us-gaap:SellingAndMarketingExpense        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total stock-based compensation expense, net of amounts capitalized $ 33,461 $ 26,527 $ 62,624 $ 48,611
v3.26.1
Net Income per Share Attributable to Common Stockholders - Computation of Basic and Diluted Net Income (Loss) per Share Attributable to Common Stockholders (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Aug. 02, 2026
Aug. 03, 2025
Aug. 02, 2026
Aug. 03, 2025
Earnings Per Share [Abstract]        
Net income $ 74,149 $ 47,118 $ 98,227 $ 33,123
Weighted-average shares used in computing net income per share attributable to common stockholders, basic (in shares) 332,942 327,594 332,047 327,066
Add: Add: dilutive effect of common stock equivalents (in shares) 12,645 10,140 12,764 10,240
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders, diluted (in shares) 345,587 337,734 344,811 337,306
Net income per share attributable to common stockholders, basic (in dollars per share) $ 0.22 $ 0.14 $ 0.30 $ 0.10
Net income per share attributable to common stockholders, diluted (in dollars per share) $ 0.21 $ 0.14 $ 0.28 $ 0.10
v3.26.1
Net Income per Share Attributable to Common Stockholders - Weighted-average Outstanding Shares Excluded from Computation of Diluted Net Income (Loss) per Share Attributable to Common Stockholders (Details) - shares
shares in Thousands
 3 Months Ended 6 Months Ended
Aug. 02, 2026
Aug. 03, 2025
Aug. 02, 2026
Aug. 03, 2025
Unvested RSUs and PRSUs        
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]        
Anti-dilutive securities excluded from computation of earnings per share, amount (in shares) 127 676 980 746
v3.26.1
Other Income (Expense), Net (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 02, 2026
Aug. 03, 2025
Aug. 02, 2026
Aug. 03, 2025
Other Income and Expenses [Abstract]        
Interest income $ 11,279 $ 15,665 $ 25,583 $ 32,541
Interest expense (292) (1,051) (531) (2,858)
Foreign currency transactions gains (losses) (3,268) 1,889 (6,300) 16,368
Other income 1,287 29,197 4,185 31,304
Total other income (expense), net $ 9,006 45,700 22,937 77,355
Unrealized gain   $ 28,000 $ 0 $ 30,401
v3.26.1
Segment Information - Narrative (Details)
 6 Months Ended
Aug. 02, 2026
segment
Segment Reporting [Abstract]  
Number of operating segments 1
Number of reportable segments 1
v3.26.1
Segment Information and Geographic Areas - Revenue by Geographic Area (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Aug. 02, 2026
Aug. 03, 2025
Aug. 02, 2026
Aug. 03, 2025
Revenues From External Customers And Long Lived Assets [Line Items]        
Total revenue $ 1,185,898 $ 861,002 $ 2,238,794 $ 1,639,487
United States        
Revenues From External Customers And Long Lived Assets [Line Items]        
Total revenue 688,409 577,036 1,427,799 1,107,694
Rest of the world        
Revenues From External Customers And Long Lived Assets [Line Items]        
Total revenue $ 497,489 $ 283,966 $ 810,995 $ 531,793
v3.26.1
Segment Information and Geographic Areas - Long-Lived Assets by Geographic Area (Details) - USD ($)
$ in Thousands
Aug. 02, 2026
Feb. 01, 2026
Revenues From External Customers And Long Lived Assets [Line Items]    
Total long-lived assets $ 687,950 $ 587,022
United States    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total long-lived assets 661,089 569,932
Rest of the world    
Revenues From External Customers And Long Lived Assets [Line Items]    
Total long-lived assets $ 26,861 $ 17,090