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Leases
 12 Months Ended
Jan. 31, 2026
Leases [Abstract]  
Leases Leases
The Company leases real estate facilities under non-cancelable operating leases with various expiration dates through fiscal 2034. The Company has no lease agreements that are classified as finance leases.
The components of lease costs, lease term, and discount rate for operating leases are as follows:
Year Ended January 31,
202620252024
Operating lease costs (in thousands)$38,534 $39,681 $40,897 
Short-term lease costs (in thousands)1,364 1,842 3,488 
Variable lease costs (in thousands)4,760 (491)2,663 
Total lease costs$44,658 $41,032 $47,048 
Weighted-average remaining lease term (in years)7.17.98.8
Weighted-average discount rate9.4 %9.5 %9.5 %
Supplemental cash flow information related to operating leases are as follows (in thousands):
Year Ended January 31,
202620252024
Cash paid for amounts included in the measurement of operating lease liabilities$43,184 $41,621 $41,389 
Right-of-use assets obtained in exchange for new operating lease liabilities$6,886 $8,534 $29,887 
Right-of-use reductions related to operating lease impairments$22,679 $6,708 $4,900 
Future minimum lease payments under non-cancelable operating leases with initial lease terms in excess of one year included in the Company’s total operating lease liabilities as of January 31, 2026, are as follows (in thousands):
Fiscal year ending January 31,
Operating Lease Payments
2027$42,817 
202841,196 
202937,867 
203034,253 
2031 and thereafter132,233 
Total undiscounted operating lease payments288,366 
Less: imputed interest(79,771)
Total operating lease liabilities$208,595 
As of January 31, 2026, the Company has commitments of $2.3 million for an operating lease that has not yet commenced, and therefore is not included in the ROU asset or operating lease liabilities. The foregoing operating lease will commence in the first quarter of fiscal 2027, with a lease term of seven years. Subsequent to January 31, 2026, the Company entered into three agreements to lease additional space and to extend the term of existing leases.
The Company expects to pay $10.7 million in additional rent payments over the terms of these leases, which expire between fiscal 2033 and fiscal 2034.
During the years ended January 31, 2026, 2025, and 2024, the Company executed subleases for a portion of its corporate office space in San Francisco, California. The Company evaluated the associated asset group for impairment, which included the ROU assets and underlying property and equipment for the lease. The Company compared the expected future undiscounted cash flows to the carrying value and determined the respective asset group was not recoverable. The Company calculated the fair value based on the present value of the cash flows from the subleases for the remaining lease terms and compared the estimated fair value to its carrying value, which resulted in a $30.7 million, $6.8 million, and $5.0 million consolidated impairment charge during the years ended January 31, 2026, 2025, and 2024, respectively. Of the $30.7 million total impairment charge recorded during the year ended January 31, 2026, $22.7 million was attributed to the operating lease ROU asset and $8.0 million was attributed to property and equipment associated with the lease. The impairment charge attributed to property and equipment associated with the leases were not material for the years ended January 31, 2025 and 2024. The fair value of the operating lease ROU assets and associated property and equipment was estimated as of the sublease execution date using level 3 inputs based on an income approach by converting future sublease cash inflows and outflows to a single present value. Estimated cash flows were discounted at a rate commensurate with the inherent risks associated with the asset group to arrive at an estimate of fair value. The impairment charges are included in general and administrative expenses in the consolidated statements of operations.
The Company has subleased certain office spaces to third parties and has classified the subleases as operating leases. The subleases have lease terms ranging from four to five years. Sublease income was $3.4 million, $1.8 million, and $0.8 million for the years ended January 31, 2026, 2025, and 2024, respectively. The Company recognizes sublease income as a reduction of lease expense in the Company’s consolidated statements of operations.
Operating lease amounts in the table above do not include sublease payments to be received of $16.8 million. As of January 31, 2026, the future total minimum sublease payments to be received were as follows (in thousands):
Fiscal year ending January 31,Sublease Payments to be Received
2027$5,045 
20285,524 
20294,620 
20301,628 
Total sublease payments to be received$16,817 
Leases Leases
The Company leases real estate facilities under non-cancelable operating leases with various expiration dates through fiscal 2034. The Company has no lease agreements that are classified as finance leases.
The components of lease costs, lease term, and discount rate for operating leases are as follows:
Year Ended January 31,
202620252024
Operating lease costs (in thousands)$38,534 $39,681 $40,897 
Short-term lease costs (in thousands)1,364 1,842 3,488 
Variable lease costs (in thousands)4,760 (491)2,663 
Total lease costs$44,658 $41,032 $47,048 
Weighted-average remaining lease term (in years)7.17.98.8
Weighted-average discount rate9.4 %9.5 %9.5 %
Supplemental cash flow information related to operating leases are as follows (in thousands):
Year Ended January 31,
202620252024
Cash paid for amounts included in the measurement of operating lease liabilities$43,184 $41,621 $41,389 
Right-of-use assets obtained in exchange for new operating lease liabilities$6,886 $8,534 $29,887 
Right-of-use reductions related to operating lease impairments$22,679 $6,708 $4,900 
Future minimum lease payments under non-cancelable operating leases with initial lease terms in excess of one year included in the Company’s total operating lease liabilities as of January 31, 2026, are as follows (in thousands):
Fiscal year ending January 31,
Operating Lease Payments
2027$42,817 
202841,196 
202937,867 
203034,253 
2031 and thereafter132,233 
Total undiscounted operating lease payments288,366 
Less: imputed interest(79,771)
Total operating lease liabilities$208,595 
As of January 31, 2026, the Company has commitments of $2.3 million for an operating lease that has not yet commenced, and therefore is not included in the ROU asset or operating lease liabilities. The foregoing operating lease will commence in the first quarter of fiscal 2027, with a lease term of seven years. Subsequent to January 31, 2026, the Company entered into three agreements to lease additional space and to extend the term of existing leases.
The Company expects to pay $10.7 million in additional rent payments over the terms of these leases, which expire between fiscal 2033 and fiscal 2034.
During the years ended January 31, 2026, 2025, and 2024, the Company executed subleases for a portion of its corporate office space in San Francisco, California. The Company evaluated the associated asset group for impairment, which included the ROU assets and underlying property and equipment for the lease. The Company compared the expected future undiscounted cash flows to the carrying value and determined the respective asset group was not recoverable. The Company calculated the fair value based on the present value of the cash flows from the subleases for the remaining lease terms and compared the estimated fair value to its carrying value, which resulted in a $30.7 million, $6.8 million, and $5.0 million consolidated impairment charge during the years ended January 31, 2026, 2025, and 2024, respectively. Of the $30.7 million total impairment charge recorded during the year ended January 31, 2026, $22.7 million was attributed to the operating lease ROU asset and $8.0 million was attributed to property and equipment associated with the lease. The impairment charge attributed to property and equipment associated with the leases were not material for the years ended January 31, 2025 and 2024. The fair value of the operating lease ROU assets and associated property and equipment was estimated as of the sublease execution date using level 3 inputs based on an income approach by converting future sublease cash inflows and outflows to a single present value. Estimated cash flows were discounted at a rate commensurate with the inherent risks associated with the asset group to arrive at an estimate of fair value. The impairment charges are included in general and administrative expenses in the consolidated statements of operations.
The Company has subleased certain office spaces to third parties and has classified the subleases as operating leases. The subleases have lease terms ranging from four to five years. Sublease income was $3.4 million, $1.8 million, and $0.8 million for the years ended January 31, 2026, 2025, and 2024, respectively. The Company recognizes sublease income as a reduction of lease expense in the Company’s consolidated statements of operations.
Operating lease amounts in the table above do not include sublease payments to be received of $16.8 million. As of January 31, 2026, the future total minimum sublease payments to be received were as follows (in thousands):
Fiscal year ending January 31,Sublease Payments to be Received
2027$5,045 
20285,524 
20294,620 
20301,628 
Total sublease payments to be received$16,817