v3.25.1

Income taxes (Tables)

12 Months Ended

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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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.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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