Income Taxes

6 Months Ended

Jul. 31, 2026

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The provision for income taxes consists of U.S. and state income taxes and income taxes in foreign jurisdictions in which the Company conducts business.

The effective tax rate for the three months ended July 31, 2026 and 2025 was 11.9% and 74.8%, respectively. The effective tax rate for the six months ended July 31, 2026 and 2025 was 8.9% and 19.6%, respectively. For the three and six months ended July 31, 2026, the effective tax rate differs from the statutory rate primarily as a result of certain non-deductible equity-based compensation, non-deductible executive officer compensation, and an increase in valuation allowance. For the three and six months ended July 31, 2025, the effective tax rate differs from the statutory rate primarily as a result of a net discrete tax benefit for the change in valuation allowance for interest expense and Texas research and development credit carryforwards from changes in tax law.