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Income Taxes (Tables)

12 Months Ended

Jan. 31, 2025

Income Taxes

Schedule of Income before Income Tax, Domestic and Foreign

​

​	​	​	​	​	​	​
​		January 31,		January 31,		January 31,
Year Ended	​	2025	​	2024	​	2023
​	​	​	​	​	​	​
Canada		60,119		53,246		49,158
United States		92,637		62,346		51,268
Other countries		38,877		35,560		33,302
​		191,633		151,152		133,728

Schedule of components income tax of expense (recovery)

​

​	​	​	​	​	​	​
​		January 31,		January 31,		January 31,
Year Ended	​	2025	​	2024	​	2023
Current income tax expense
Canada		22,282		16,376		9,673
United States		18,020		16,532		13,085
Other countries		13,100		8,315		5,490
​		53,402		41,223		28,248
Deferred income tax expense (recovery)		​		​		​
Canada		(3,875)		(2,369)		5,059
United States		585		(5,060)		(1,888)
Other countries		(1,752)		1,451		73
​		(5,042)		(5,978)		3,244
​		48,360		35,245		31,492

Schedule of deferred tax assets and liabilities

​

​	​	​	​	​
​		January 31,		January 31,
​	​	2025	​	2024
Assets
Accrued liabilities not currently deductible		10,326		11,736
Accumulated losses		2,813		2,397
Difference between tax and accounting basis of property and equipment		9,653		9,088
Research and development expenditures and tax credits		9,683		7,680
Total deferred income tax assets		32,475		30,901
Liabilities		​		​
Difference between tax and accounting basis of intangible assets		(53,346)		(42,423)
Temporary difference on equity derivative and related party debt		(6,990)		(5,513)
Total deferred income tax liabilities		(60,336)		(47,936)
Net deferred income taxes		(27,861)		(17,035)
Valuation allowance		(2,464)		(1,969)
Net deferred income taxes, net of valuation allowance		(30,325)		(19,004)

Schedule of effective income tax rate reconciliation

​

​	​	​	​	​	​	​	​
​		January 31,		January 31,		January 31,
Year Ended	​	2025	​	2024	​	2023
Income before income taxes		191,633		151,152		133,728	​
​	​	​	​	​	​	​	​
Combined basic Canadian statutory rates		26.5	%	26.5	%	26.5	%
​	​	​	​	​	​	​	​
Income tax expense based on the above rates		50,783		40,055		35,438	​
Increase (decrease) in income taxes resulting from:		​		​		​	​
Permanent differences		1,490		124		590	​
Effect of differences between Canadian and foreign tax rates		(2,042)		(1,293)		(1,859)	​
Effect of rate changes on current year timing differences		(424)		(48)		(219)	​
Change in estimates relating to prior periods		66		(2,888)		(972)	​
Increase (decrease) in accruals for uncertain tax positions		(544)		(117)		(1,181)	​
Valuation allowance		564		263		(155)	​
Research tax credits	​	(2,230)	​	(1,488)	​	(734)	​
Other, including foreign exchange		697		637		584	​
Income tax expense		48,360		35,245		31,492	​

Schedule of operating loss carryforwards

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	United	​	​	​	​	​	​
Expiry year		Canada		States		EMEA		Asia Pacific		Total
2026		—		—		—		59		59
2027		—		—		—		191		191
2028		—		138		—		50		188
2029		—		138		—		8		146
2030	​	—	​	138	​	—	​	237	​	375
Thereafter		—		310		—		488		798
Indefinite	​	—	​	532	​	9,326	​	—	​	9,858
​		—		1,256		9,326		1,033		11,615

Schedule of unrecognized tax benefits roll forward

​

​	​	​	​	​
​		January 31,		January 31,
​	​	2025	​	2024
Liability, beginning of year		6,153		6,120
Gross increases – current period		1,476		3,946
Lapsing due to statutes of limitations		(2,098)		(3,913)
Liability, end of year		5,531		6,153

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