v3.25.1

Income taxes (Tables) | 12 Months Ended
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Jan. 31, 2025
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The income tax provision (benefit) consisted of the following:
| Year ended January 31,
(in thousands) | 2025 |  | 2024 |  | 2023
Current: |  |  |  |  |
Federal | $ | 25,949 |  |  | $ | 29,376 |  |  | $ | 3,260 |
State | 6,211 |  |  | 3,947 |  |  | 1,968 |
Total current tax provision | $ | 32,160 |  |  | $ | 33,323 |  |  | $ | 5,228 |
Deferred: |  |  |  |  |
Federal | $ | (11,886) |  |  | $ | (11,004) |  |  | $ | (14,382) |
State | (943) |  |  | (2,991) |  |  | (2,799) |
Total deferred tax benefit | $ | (12,829) |  |  | $ | (13,995) |  |  | $ | (17,181) |
Total income tax provision (benefit) | $ | 19,331 |  |  | $ | 19,328 |  |  | $ | (11,953) |
Schedule of Effective Income Tax Rate Reconciliation | Total income tax provision (benefit) differed from the amounts computed by applying the U.S. federal statutory tax rate to income before income taxes as a result of the following:
| Year ended January 31,
(in thousands) | 2025 |  | 2024 |  | 2023
Federal income tax provision (benefit) at the statutory rate | $ | 24,367 |  |  | $ | 15,759 |  |  | $ | (8,000) |
State income tax provision (benefit), net of federal tax provision (benefit) | 4,365 |  |  | 5,382 |  |  | (1,021) |
Other non-deductible or non-taxable items, net | 1,194 |  |  | 447 |  |  | 225 |
Excessive employee remuneration | 6,782 |  |  | 2,939 |  |  | 3,246 |
Excess tax (benefit) shortfall on stock-based compensation expense, net | (12,102) |  |  | 304 |  |  | (2,479) |
Federal research and development credits | (7,955) |  |  | (9,202) |  |  | (1,341) |
Change in uncertain tax position reserves, net of indirect benefits | 3,227 |  |  | 6,137 |  |  | (2,970) |
Deferred tax rate adjustment due to state apportionment changes | 1,504 |  |  | (1,039) |  |  | (30) |
Adjustment from settlement of IRS examination | — |  |  | 2,461 |  |  | — |
Return-to-provision adjustments | (1,155) |  |  | (433) |  |  | (38) |
Change in valuation allowance | (96) |  |  | (3,129) |  |  | 733 |
Other items, net | (800) |  |  | (298) |  |  | (278) |
Total income tax provision (benefit) | $ | 19,331 |  |  | $ | 19,328 |  |  | $ | (11,953) |
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities consisted of the following:
(in thousands) | January 31, 2025 |  | January 31, 2024
Deferred tax assets: |  |  |
Net operating loss carryforward | $ | 1,120 |  |  | $ | 1,730 |
Stock compensation | 11,937 |  |  | 14,069 |
Research and development credits | 4,160 |  |  | 3,796 |
Lease liabilities | 13,245 |  |  | 14,371 |
Capitalized research and development | 53,238 |  |  | 33,474 |
Fixed assets | 1,083 |  |  | 939 |
Accruals and reserves | 5,099 |  |  | 3,557 |
Other, net | 6,632 |  |  | 1,937 |
Total gross deferred tax assets | $ | 96,514 |  |  | $ | 73,873 |
Less valuation allowance | (1,066) |  |  | (1,164) |
Deferred tax assets, net of valuation allowance | 95,448 |  |  | 72,709 |
Deferred tax liabilities: |  |  |
Intangible assets | (84,120) |  |  | (86,195) |
Incremental contract costs | (15,282) |  |  | (12,887) |
Right-of-use assets | (10,926) |  |  | (11,949) |
Goodwill | (38,205) |  |  | (28,691) |
Other, net | (2,749) |  |  | (1,657) |
Total gross deferred tax liabilities | (151,282) |  |  | (141,379) |
Net deferred tax liabilities | $ | (55,834) |  |  | $ | (68,670) |
Schedule of Unrecognized Tax Benefits Roll Forward | A tabular reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:
(in thousands) | January 31, 2025 |  | January 31, 2024
Gross unrecognized tax benefits at beginning of year | $ | 19,213 |  |  | $ | 8,690 |
Gross amounts of increases and decreases: |  |  |
Increases as a result of tax positions taken during a prior period | 1,004 |  |  | 9,325 |
Increases as a result of tax positions taken during the current period | 5,076 |  |  | 3,386 |
Decreases as a result of settlement | — |  |  | (1,030) |
Decreases resulting from the lapse of the applicable statute of limitations | (1,153) |  |  | (1,158) |
Gross unrecognized tax benefits at end of year | $ | 24,140 |  |  | $ | 19,213 |
Schedule of Unrecognized Tax Benefit Netted Against Deferred Tax Asset | The resulting unrecognized tax benefit recorded within the Company's consolidated balance sheet excludes the following amounts that have been netted against the related deferred tax assets accordingly:
(in thousands) | January 31, 2025 |  | January 31, 2024
Total gross unrecognized tax benefits | $ | 24,140 |  |  | $ | 19,213 |
Amounts netted against related deferred tax assets | (8,363) |  |  | (7,186) |
Unrecognized tax benefits recorded on the consolidated balance sheet | $ | 15,777 |  |  | $ | 12,027 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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