Restructuring Activities

6 Months Ended

Jul. 31, 2024

Restructuring and Related Activities [Abstract]

On February 7, 2023, we announced a restructuring plan (the “Plan”) intended to reduce operating costs and continue advancing our ongoing commitment to profitable growth. The Plan included a reduction of our then-current workforce by approximately 15%. The execution of the Plan was completed as of July 31, 2023, and therefore no restructuring expense was recorded for the six months ended July 31, 2024.

For the three months ended July 31, 2023, we recorded net restructuring (benefits) costs of $(0.2) million, which consisted of $(0.4) million related to employee transition, severance payments, and employee benefits; and $0.2 million for other related expenses. For the six months ended July 31, 2023, we recorded net restructuring costs of $73.0 million, which consisted of $54.4 million related to employee transition, severance payments, and employee benefits; $17.3 million related to stock-based compensation awards; and $1.3 million for other related expenses.

The following table summarizes our restructuring expenses that were recorded as an operating expense in the condensed consolidated statement of operations for the three and six months ended July 31, 2023:


	Three Months Ended July 31, 2023		Six Months Ended July 31, 2023
	(in thousands)
Cost of revenue	$	24	$	7,119
Research and development	327		19,629
Sales and marketing	(911)		32,930
General and administrative	373		13,315
Total restructuring (benefits) costs	$	(187)	$	72,993

There was no restructuring liability as of January 31, 2024 or July 31, 2024.