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Leases | 6 Months Ended
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Aug. 02, 2025
Leases [Abstract] |
Leases | Leases The Company leases office space under operating lease agreements that are non-cancelable and have remaining lease terms ranging from one year to approximately six years. The Company is required to pay property taxes, insurance, and normal maintenance costs for certain of these facilities. The components of operating lease expense were as follows (in thousands):
| Three Months Ended |  | Six Months Ended
| August 2, 2025 |  | August 3, 2024 |  | August 2, 2025 |  | August 3, 2024 |  |
Operating lease cost | $ | 4,672 |  |  | $ | 5,700 |  |  | $ | 9,413 |  |  | $ | 11,397 |  |  |
Short-term lease cost | 357 |  |  | 182 |  |  | 710 |  |  | 389 |  |  |
Sublease income | (358) |  |  | (345) |  |  | (716) |  |  | (690) |  |  |
Total lease cost | $ | 4,671 |  |  | $ | 5,537 |  |  | $ | 9,407 |  |  | $ | 11,096 |  |  |
Supplemental information related to operating leases was as follows (in thousands, except for weighted-average data):
| Three Months Ended |  | Six Months Ended
| August 2, 2025 |  | August 3, 2024 |  | August 2, 2025 |  | August 3, 2024 |  |
Cash paid for operating leases | $ | 6,412 |  |  | $ | 7,021 |  |  | $ | 12,631 |  |  | $ | 13,933 |  |  |
Operating lease right-of-use (“ROU”) assets obtained under operating leases | $ | — |  |  | $ | — |  |  | $ | 6,768 |  |  | $ | — |  |  |
| As of
| August 2, 2025 |  | February 1, 2025
Weighted-average remaining lease term—operating leases (in years) | 5.2 |  | 5.5
Weighted-average discount rate—operating leases | 5.36 | % |  | 5.02 | %
Future minimum lease payments included in the measurement of operating lease liabilities as of August 2, 2025 were as follows (in thousands):
Fiscal Years Ending |  | Amount
Remainder of 2026 |  | $ | 7,642 |
2027 |  | 17,487 |
2028 |  | 16,034 |
2029 |  | 15,744 |
2030 |  | 15,223 |
2031 and thereafter |  | 17,222 |
Total future minimum lease payments (1) |  | 89,352 |
Less: imputed interest |  | (12,174) |
Total operating lease liabilities |  | $ | 77,178 |
__________ (1)The contractual commitment amounts under operating leases in the table above are primarily related to facility leases for the corporate office facilities in San Francisco, California, as well as other offices for local operations. Fiscal year 2026 lease modification In March 2025, the Company amended the lease for certain office space, which resulted in additional operating lease liabilities arising from obtaining ROU assets of $6.8 million. Finance leases In addition to its operating leases, the Company has non-cancelable finance leases for equipment. The balances for finance leases were immaterial as of August 2, 2025 and February 1, 2025 and were recorded in “Other assets,” “Accrued expenses and other current liabilities,” and “Other liabilities” on the condensed consolidated balance sheets.
Leases | Leases The Company leases office space under operating lease agreements that are non-cancelable and have remaining lease terms ranging from one year to approximately six years. The Company is required to pay property taxes, insurance, and normal maintenance costs for certain of these facilities. The components of operating lease expense were as follows (in thousands):
| Three Months Ended |  | Six Months Ended
| August 2, 2025 |  | August 3, 2024 |  | August 2, 2025 |  | August 3, 2024 |  |
Operating lease cost | $ | 4,672 |  |  | $ | 5,700 |  |  | $ | 9,413 |  |  | $ | 11,397 |  |  |
Short-term lease cost | 357 |  |  | 182 |  |  | 710 |  |  | 389 |  |  |
Sublease income | (358) |  |  | (345) |  |  | (716) |  |  | (690) |  |  |
Total lease cost | $ | 4,671 |  |  | $ | 5,537 |  |  | $ | 9,407 |  |  | $ | 11,096 |  |  |
Supplemental information related to operating leases was as follows (in thousands, except for weighted-average data):
| Three Months Ended |  | Six Months Ended
| August 2, 2025 |  | August 3, 2024 |  | August 2, 2025 |  | August 3, 2024 |  |
Cash paid for operating leases | $ | 6,412 |  |  | $ | 7,021 |  |  | $ | 12,631 |  |  | $ | 13,933 |  |  |
Operating lease right-of-use (“ROU”) assets obtained under operating leases | $ | — |  |  | $ | — |  |  | $ | 6,768 |  |  | $ | — |  |  |
| As of
| August 2, 2025 |  | February 1, 2025
Weighted-average remaining lease term—operating leases (in years) | 5.2 |  | 5.5
Weighted-average discount rate—operating leases | 5.36 | % |  | 5.02 | %
Future minimum lease payments included in the measurement of operating lease liabilities as of August 2, 2025 were as follows (in thousands):
Fiscal Years Ending |  | Amount
Remainder of 2026 |  | $ | 7,642 |
2027 |  | 17,487 |
2028 |  | 16,034 |
2029 |  | 15,744 |
2030 |  | 15,223 |
2031 and thereafter |  | 17,222 |
Total future minimum lease payments (1) |  | 89,352 |
Less: imputed interest |  | (12,174) |
Total operating lease liabilities |  | $ | 77,178 |
__________ (1)The contractual commitment amounts under operating leases in the table above are primarily related to facility leases for the corporate office facilities in San Francisco, California, as well as other offices for local operations. Fiscal year 2026 lease modification In March 2025, the Company amended the lease for certain office space, which resulted in additional operating lease liabilities arising from obtaining ROU assets of $6.8 million. Finance leases In addition to its operating leases, the Company has non-cancelable finance leases for equipment. The balances for finance leases were immaterial as of August 2, 2025 and February 1, 2025 and were recorded in “Other assets,” “Accrued expenses and other current liabilities,” and “Other liabilities” on the condensed consolidated balance sheets.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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