Leases

6 Months Ended

Jul. 31, 2025

Note 5. Leases

We have entered into various non-cancellable operating lease agreements for certain of our offices with lease periods expiring primarily between fiscal years 2027 and 2037. Certain of these arrangements have free or escalating rent payment provisions and optional renewal or termination clauses. Our operating leases typically include variable lease payments, which are primarily comprised of common area maintenance and utility charges for our offices and power and network connections for our data centers, that are determined based on actual consumption. Our operating lease agreements do not contain any residual value guarantees, covenants, or other restrictions.

We sublease certain floors of our Redwood City and London offices. Our current subleases have total lease terms ranging from 24 to 39 months that will expire at various dates by fiscal year 2029.

The components of lease cost, which were included in operating expenses in our condensed consolidated statements of operations, were as follows (in thousands):


	Three Months Ended						Six Months Ended
	July 31,						July 31,
	2025			2024			2025			2024
Operating lease cost, gross	$	6,568		$	6,498		$	12,999		$	16,606
Variable lease cost, gross		1,655			1,528			3,832			3,618
Sublease income		(1,036	)		(1,516	)		(2,666	)		(2,935	)
Other		—			—			—			386
Total lease cost	$	7,187		$	6,510		$	14,165		$	17,675

As of July 31, 2025, maturities of our operating lease liabilities, which do not include short-term leases and variable lease payments, are as follows (in thousands):


Years ending January 31:	Operating Leases (1)
Remainder of 2026	$	15,542
2027		31,223
2028		27,438
2029		12,953
2030		4,205
Thereafter		19,377
Total lease payments	$	110,738
Less: imputed interest		(15,116	)
Present value of total lease liabilities	$	95,622

(1)

Non-cancellable sublease proceeds for the remainder of the year ending January 31, 2026 and the years ending January 31, 2027, 2028, and 2029 of $1.0 million, $2.5 million, $2.2 million, and $0.6 million, respectively, are not included in the table above.

As of July 31, 2025, we had two operating leases for office spaces that have not yet commenced. The operating leases have aggregated undiscounted future payments of $25.0 million and lease terms ranging from approximately ten to eleven years. The operating leases are estimated to commence during fiscal years 2026 and 2027.