INCOME TAXES (Tables)

12 Months Ended

Jan. 31, 2026

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Our loss before provision for income taxes for fiscal 2026, 2025 and 2024 consisted of the following (in thousands):

	Year Ended January 31,
	2026		2025		2024
Domestic	$	(301,626)	$	(383,904)	$	(406,151)
Foreign	21,915		102,297		73,317
Loss before provision for income taxes	$	(279,711)	$	(281,607)	$	(332,834)

Schedule of Components of Income Tax Expense (Benefit)

The components of provision for income taxes for fiscal 2026, 2025 and 2024 consisted of the following (in thousands):

	Year Ended January 31,
	2026		2025		2024
Current:
Federal	$	—	$	—	$	—
State	225		178		150
Foreign	192,270		4,021		5,168
Total current	192,495		4,199		5,318
Deferred:
Federal	(4,666)		—		—
State	(703)		—		—
Foreign	(16,102)		2,635		541
Total deferred	(21,471)		2,635		541
Total provision for income taxes	$	171,024	$	6,834	$	5,859

Schedule of Effective Income Tax Rate Reconciliation

Upon adoption of ASU 2023-09, as described in Note 2, Summary of Significant Accounting Policies, the reconciliation of taxes at the federal statutory rate to our provision for income taxes for the year ended January 31, 2026 was as follows (in thousands, except for percentages):

	Year Ended January 31,
	2026
	Amount		%
Benefit from income taxes at U.S. federal statutory rate	$	(58,739)	21.0	%
Domestic state and local income taxes, net of federal effect(1)	(478)		0.2	%
Foreign
Israel
ITA tax settlement(2)	180,884		(64.7)	%
Reversal of deferred tax liability from acquired intangibles	(4,968)		1.8	%
Change in valuation allowance	(19,167)		6.9	%
Reversals of net operating losses in connection with ITA Agreement	15,059		(5.4)	%
Other	(587)		0.2	%
Other foreign jurisdictions	344		(0.1)	%
Cross-border tax laws
Foreign branches subject to U.S. tax	2,941		(1.1)	%
Foreign tax deduction	(36,987)		13.2	%
Tax credits
Research and development credits	(3,223)		1.2	%
Change in valuation allowance	65,998		(23.6)	%
Nontaxable and nondeductible items, net
Stock-based compensation	23,091		(8.3)	%
Intercompany intellectual property sale	4,536		(1.6)	%
Other	1,346		(0.5)	%
Change in unrecognized tax benefits	806		(0.3)	%
Other adjustments	168		(0.1)	%
Total	$	171,024	(61.1)	%

(1) State taxes in Texas made up the majority (greater than 50 percent) of the tax effect in this category.

(2) Tax settlement with the ITA regarding the Assessment Agreement related to transfer pricing between the U.S. and Israel

The reconciliation of taxes at the federal statutory rate to our provision for income taxes for the years ended January 31, 2025 and 2024 in accordance with the guidance prior to the adoption of ASU 2023-09 was as follows (in thousands):

	Year Ended January 31,
	2025		2024
Benefit from income taxes at U.S. federal statutory rate	$	(59,137)	$	(69,895)
State taxes, net of federal benefit	178		150
Foreign tax rate differential	30,950		23,179
Stock-based compensation	6,689		12,367
Non-deductible expenses	468		1,390
Research and development credits	(2,987)		(2,251)
Change in valuation allowance	30,584		40,525
Other	89		394
Total provision for (benefit from) income taxes	$	6,834	$	5,859

Schedule of Deferred Tax Assets and Liabilities

Significant components of our net deferred tax assets and liabilities as of January 31, 2026 and 2025 consisted of the following (in thousands):

	As of January 31,
	2026		2025
Deferred tax assets:
Net operating loss carryforwards	$	246,593	$	207,838
Research and development expenses	172,338		148,728
Deferred revenue	49,987		42,537
Accruals and reserves	10,340		11,042
Operating lease liabilities	4,427		5,349
Stock-based compensation	20,032		17,388
Property and equipment	58		—
Other	16,016		11,495
Gross deferred tax assets	519,791		444,377
Valuation allowance	(437,044)		(381,956)
Total deferred tax assets	82,747		62,421
Deferred tax liabilities:
Acquired intangibles, property and equipment	(30,941)		(24,373)
Deferred contract acquisition costs	(38,776)		(36,313)
Operating lease right-of-use assets	(3,238)		(4,602)
Other	—		(563)
Total deferred tax liabilities	(72,955)		(65,851)
Net deferred tax liabilities	$	9,792	$	(3,430)

Schedule of Unrecognized Tax Benefits Roll Forward

The changes in the gross amount of unrecognized tax benefits consisted of the following (in thousands):

	As of January 31,
	2026		2025		2024
Balance at beginning of year	$	4,000	$	2,197	$	1,013
Gross increases for tax positions of current year	1,405		1,540		1,027
Gross increases for tax positions of prior year	—		263		157
Balance at end of year	$	5,405	$	4,000	$	2,197

Schedule of Income Tax Paid

Upon adoption of ASU 2023-09, as described in Note 2, Summary of Significant Accounting Policies, cash paid for income taxes, net of refunds, during the year ended January 31, 2026 was as follows (in thousands):

	As of January 31,
	2026
Federal	$	—
State and Local	147
Foreign
India	2,053
Czech	1,571
Singapore	896
Australia	477
Netherlands	421
Other foreign jurisdictions	82
Total	$	5,647

The scheduled payments are fixed in Israel New Shekel and have been converted to the following U.S. dollar amounts based on the spot rate as of the period end.

Payment Timing	Amount (ILS, in millions)		Amount (USD, in millions)*
First Quarter ending April 30, 2026	ILS	95.3	$	30.7
Fourth Quarter ending January 31, 2027	31.8		10.2
Fourth Quarter ending January 31, 2028	47.6		15.3
Fourth Quarter ending January 31, 2029	63.5		20.4
Fourth Quarter ending January 31, 2030	63.5		20.4
Fourth Quarter ending January 31, 2031 (Final Payment)**	428.8		138.0
Total	ILS	730.5	$	235.0

* The U.S. dollar equivalent amounts indicated above are based upon the spot rate as of the period end.

** Final payment is inclusive of accrued interest and includes an option to extend until fiscal 2033. If the extension is exercised, the final payment in the fourth quarter of fiscal 2033 would be 491.1 million Israeli New Shekels ($158.1 million).