RESTRUCTURING

6 Months Ended

Jul. 31, 2026

Fiscal 2027

In May 2026, we initiated a restructuring plan (May 2026 Plan) to further streamline the Company’s organizational structure, improve efficiencies, and concentrate investments across high-yielding growth areas, while continuing to advance the Company’s ongoing commitment to profitable growth. In connection with the May 2026 Plan, we incurred a restructuring charge of $24.4 million during both the three and six months ended July 31, 2026, of which $13.6 million was related to employee severance and related benefit costs, and $10.8 million was related to stock-based compensation expense. The charges were recorded in restructuring expenses on the Company’s condensed consolidated statements of operations.

The following table summarizes our restructuring liability that is included in accrued payroll and benefits on the condensed consolidated balance sheets related to the May 2026 Plan (in thousands):


	Severance payments and employee benefits
Liability as of January 31, 2026	$	—
Charges	13,604
Payments	(10,246)
Liability as of July 31, 2026	$	3,358

The actions associated with the May 2026 Plan are expected to be fully completed by the end of fiscal 2027.

Fiscal 2026

In March 2025, we initiated a restructuring plan (March 2025 Plan) as a result of a review of current strategic priorities, resource allocation, and cost reduction initiatives intended to reduce operating costs, improve operating margins and continue advancing our ongoing commitment to profitable growth. We incurred approximately $5.2 million in charges in connection with the March 2025 Plan during the six months ended July 31, 2025, which primarily consisted of $3.0 million in charges related to severance payments and employee benefits and $2.2 million

of asset impairment charges related to facilities. The actions associated with the March 2025 Plan were completed as of July 31, 2025.

In July 2025, we initiated a restructuring plan (July 2025 Plan) and incurred approximately $3.9 million in charges related to contract terminations during the six months ended July 31, 2025. Additional restructuring charges of $3.2 million were incurred in the second half of fiscal 2026. The actions associated with the July 2025 Plan were completed as of January 31, 2026.