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Shareholders' Equity
 9 Months Ended
Oct. 31, 2025
Equity [Abstract]  
Shareholders' Equity

8. Shareholders’ Equity

Share repurchase activity under the Company's share repurchase program was as follows:

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

October 31,

 

 

October 31,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Number of common shares repurchased and subsequently retired

 

 

—

 

 

 

—

 

 

 

3,274,260

 

 

 

1,200,000

 

Total cost(1)

 

$

—

 

 

$

—

 

 

$

151,935

 

 

$

52,262

 

Average cost per share, including commissions

 

$

—

 

 

$

—

 

 

$

46.40

 

 

$

43.55

 
(1)
Under the Inflation Reduction Act, the Company's share repurchases, net of issuances, are subject to a 1% excise tax. The total cost of share repurchases during the nine months ended October 31, 2025, excludes excise tax incurred of $1,124. The total cost of share repurchases during the three and nine months ended October 31, 2024, excludes excise tax incurred of $234.

On June 4, 2019, the Company’s Board of Directors authorized the repurchase of 20,000,000 common shares under a share repurchase program. As of October 31, 2025, 14,682,130 common shares were remaining under the program.

During the nine months ended October 31, 2025, the Company acquired and subsequently retired 400,846 common shares at a total cost of $21,738 from employees to meet payroll tax withholding requirements on vested share-based awards. During the nine months ended October 31, 2024, the Company acquired and subsequently retired 363,369 common shares at a total cost of $15,264 from employees to meet payroll tax withholding requirements on vested share-based awards.