Leases

12 Months Ended

Jan. 31, 2026

The Company's operating lease arrangements are principally for office space. As of January 31, 2026, the Company had $18.6 million of operating lease liabilities, current, $61.9 million of operating lease liabilities, non-current, $50.9 million of operating lease right-of-use assets, and no financing leases, on its consolidated balance sheet. The operating lease arrangements included in the measurement of lease liabilities had a weighted-average remaining lease term of 4.9 years and a weighted-average discount rate of 6.0%, as of January 31, 2026. During the fiscal year ended January 31, 2026, the Company paid $19.6 million for amounts included in the measurement of lease liabilities and obtained $0.7 million of operating lease right-of-use assets in exchange for lease obligations.

The following table summarizes the Company's lease expense for the periods presented:


	Fiscal year ended January 31,
(in thousands)		2026		2025		2024
Operating lease expense		$	14,736	$	14,894	$	15,637
Short-term lease expense		115		748		709
Variable lease expense		10,167		9,696		10,082
Total lease expense		$	25,018	$	25,338	$	26,428

Operating lease expense is recognized on a straight-line basis over the term of the arrangement beginning on the lease commencement date for lease arrangements that have an initial term greater than twelve months and therefore are recorded on the balance sheet. Upon impairment of an operating lease, lease expense is recognized based on accretion of the lease liability and amortization of the right of use asset which is recorded on a straight-line basis through the end of remaining the lease term. Short-term lease expense is recognized on a straight-line basis over the lease term for lease arrangements that have an initial term of 12 months or less and therefore are not recorded on the balance sheet. Variable lease expense is recognized as incurred and includes real estate taxes and utilities, among other office space related expenses.

The total remaining operating lease payments included in the measurement of lease liabilities on the Company's consolidated balance sheet as of January 31, 2026, was as follows (in thousands):


Fiscal year ending January 31:	Operating Lease Payments
2027	$	19,207
2028	18,979
2029	18,823
2030	17,324
2031	17,200
2032 and thereafter	1,980
Total operating lease payments	93,513


Less: imputed interest	(13,008)
Total lease liabilities, reflecting the present value of net lease payments	$	80,505

During the fiscal year ended January 31, 2026, the Company subleased a floor related to its corporate headquarters and was in the process of subleasing an additional floor as of January 31, 2026. In connection with these arrangements, the Company recorded a $8.6 million impairment loss during the fiscal year ended January 31, 2026, of which $6.5 million was attributable to the right-of-use asset and $2.1 million to the related leasehold improvements. The following table summarizes the Company’s impairment loss for the periods presented:


	Fiscal year ended January 31,
(in thousands)		2026		2025		2024
Cost of revenue		$	2,528	$	—	$	—
Sales and marketing		2,272		—		—
Research and development		2,052		—		—
General and administrative		1,700		—		—
Total impairment loss		$	8,552	$	—	$	—

During the fiscal year ended January 31, 2026, the Company recorded $0.6 million of sublease income. As of January 31, 2026, the Company's future cash inflows from subleases are as follows (in thousands):


Fiscal year ending January 31:
2027	$	1,880
2028	2,506
2029	2,506
2030	2,506
2031	2,506
2032 and thereafter	208
Total	$	12,112