Restructuring Charges

9 Months Ended

Oct. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring Charges

Restructuring Charges

In May 2024, the Company implemented an approved plan for restructuring its global workforce by approximately 3% to reduce operating costs and better align its workforce with the needs of its business. The majority of the associated costs, including severance and benefits, were incurred in the second quarter of fiscal year 2025. For the three and nine months ended October 31, 2024, the Company incurred a total of $3.0 million in restructuring costs.

In February 2025, the Company implemented an approved plan for restructuring its global workforce by approximately 12% to help position the Company for long-term success by realigning employee costs with the current business and freeing up capital for incremental investments. The majority of the associated costs, including severance, benefits and the acceleration of equity awards, were incurred in the first half of fiscal 2026. For the three and nine months ended October 31, 2025, the Company incurred restructuring costs of $0.5 million and $15.9 million, respectively, which includes stock-based compensation expense of nil and $0.9 million, respectively.

Changes in the Company’s restructuring liability for the periods presented are set forth in the table below:

	Nine Months Ended October 31,
(in thousands)	2025		2024
Accrual, beginning of period	$	—	$	—
Restructuring charges	14,993		2,965
Cash Payments	(13,601)		(2,550)
Accrual, end of period	$	1,392	$	415

Restructuring liabilities are included in accrued expenses and other current liabilities in the condensed consolidated balance sheet, the majority of which is expected to be paid in the fourth quarter of fiscal 2026.