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Income Taxes (Tables)

12 Months Ended

Jan. 25, 2026

Income Tax Disclosure [Abstract]

Schedule of regional income before income taxes

The Company's regional income before income taxes and equity in net gains (losses) of equity method investments was as follows:

			Fiscal Year Ended
(in thousands)			January 25, 2026						January 26, 2025						January 28, 2024
Domestic			$	(45,923)					$	(183,751)					$	(306,039)
Foreign			24,743						390						(735,516)
Total			$	(21,180)					$	(183,361)					$	(1,041,555)

Schedule of components of income tax expense

The provision for income taxes consisted of the following:

			Fiscal Year Ended
(in thousands)			January 25, 2026						January 26, 2025						January 28, 2024
Current income tax (benefit) provision
Federal			$	(613)					$	(10,416)					$	1,758
State			485						1,513						1
Foreign			14,111						9,949						8,750
Subtotal			13,983						1,046						10,509
Deferred income tax (benefit) provision
Federal			—						—						50,938
State			—						—						51
Foreign			5,849						(23,058)						(10,979)
Subtotal			5,849						(23,058)						40,010
Provision for income taxes			$	19,832					$	(22,012)					$	50,519

Schedule of income tax reconciliation

			Fiscal Year Ended
(in thousands)			January 25, 2026
U.S. Federal statutory rate			$	(4,448)					21.0%
State and local taxes, net of federal income tax effect
New York			(245)						1.2%
Other			(78)						0.4%
Foreign tax effects
Switzerland
Tax rate differential			(3,582)						16.9%
Shared-based compensation			(2,652)						12.5%
Rate change on deferreds			(2,425)						11.4%
Other adjustments			274						(1.3)%
Canada
Tax rate differential			(2,639)						12.5%
Impact of audit settlements			409						(1.9)%
Research and development credits			(6,335)						29.9%
Goodwill impairment			8,968						(42.3)%
Valuation allowance			16,117						(76.1)%
Other adjustments			688						(3.2)%
United Kingdom

Research and development credits			(495)						2.3%
Other adjustments			(925)						4.4%
France
Goodwill impairment			2,121						(10.0)%
Impact of audit settlements			1,280						(6.0)%
Other adjustments			85						(0.4)%
Australia
Goodwill impairment			2,280						(10.8)%
Other adjustments			459						(2.2)%
Other foreign jurisdictions
Goodwill impairment			904						(4.3)%
Other adjustments			231						(1.1)%
Effects of Cross-Border tax laws
Global intangible low-taxes income (GILTI)			5,808						(27.4)%
Foreign derived intangible income (subpart F)			160						(0.8)%
Section 78 gross up			2,540						(12.0)%
Foreign tax credit			(6,750)						31.9%
Tax credits
Research and development credit			327						(1.5)%
Valuation allowance			(8,790)						41.5%
Nontaxable or nondeductible items
Debt Extinguishment			5,430						(25.6)%
Share-based compensation			(1,864)						8.8%
Disallowed executive compensation			3,278						(15.5)%
Goodwill impairment			6,517						(30.8)%
Other Adjustments
Return to provision adjustments			3,230						(15.3)%
Other adjustments			(46)						0.2%
Effective tax rate			$	19,832					(93.6)%

The following table presents the required disclosures prior to the Company's adoption of ASU 2023-09 and reconciles the U.S. federal statutory income tax rate to the actual global effective income tax rate for the fiscal years ended January 26, 2025 and January 28, 2024:

			Fiscal Year Ended
(in thousands)			January 26, 2025						January 28, 2024
Federal income tax at statutory rate			$	(38,506)					$	(218,726)
State income taxes, net of federal benefit			1,173						(9,989)
Foreign taxes differential, including withholding taxes			(1,027)						(36,408)
Tax credits generated			(9,436)						(6,054)
Changes in valuation allowance			23,847						149,209
Gain on intra-entity asset transfer of intangible assets			11,430						—
Changes in uncertain tax positions			(9,856)						1,877
True-up on impairment losses			(26,903)						—
Equity compensation			1,825						2,929
Nondeductible loss on debt extinguishment			30,384						—
Rate change on deferreds			(10,382)						(2,667)
GILTI and Subpart F income			7,227						—
Goodwill impairment			2,019						193,699
Nondeductible officers compensation			1,650						741
Other			(5,457)						(24,092)
Provision for income taxes			$	(22,012)					$	50,519

Schedule of components of deferred tax assets and liabilities

The components of the net deferred income tax assets and liabilities at January 25, 2026 and January 26, 2025 were as follows:

(in thousands)			January 25, 2026						January 26, 2025
Non-current deferred tax assets:
Deferred revenue			$	2,645					2,351
Inventory reserve			7,951						$	7,501
Bad debt reserve			731						405
Foreign tax credits			767						1,790
Research credit carryforward			89,563						91,214
NOL carryforward			134,089						128,595
Payroll and related accruals			10,503						7,989
Share-based compensation			5,685						4,608
Foreign pension deferred			315						793
Accrued sales reserves			3,471						4,332
Research and development charges			22,134						20,374
Leasing deferred assets			6,244						5,930
OID interest			2,052						9,692
Other reserves			1,129						1,463
Section 163(J) Limitation			37,556						34,072
Other deferred assets			4,261						3,558
Intangibles			61,060						67,397
Valuation allowance			(336,266)						(328,203)
Total non-current deferred tax assets			53,890						63,861
Non-current deferred tax liabilities:
Property, plant and equipment			(4,788)						(7,135)
Goodwill and other intangibles			(8,242)						(7,700)
Leasing deferred liabilities			(5,532)						(5,334)
Other non-current deferred tax liabilities			(1,241)						(3,318)
Total non-current deferred tax liabilities			(19,803)						(23,487)
Net deferred tax assets			$	34,087					$	40,374

Summary of changes in the valuation allowance

Changes in the valuation allowance for the three years ended January 25, 2026 are summarized in the table below:

			Fiscal Year Ended
(in thousands)			January 25, 2026						January 26, 2025						January 28, 2024
Beginning balance			$	328,203					$	304,355					$	156,850
Additions			20,537						35,071						147,505
Releases			(12,474)						(11,223)						—
Ending balance			$	336,266					$	328,203					$	304,355

Schedule of unrecognized tax benefits roll forward

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits (before federal impact of state items) is as follows:

			Fiscal Year Ended
(in thousands)			January 25, 2026						January 26, 2025
Beginning balance			$	20,966					$	36,548
Net additions based on tax positions related to the current year			1,868						1,356
Additions based on tax positions related to prior years			438						646
Reductions as a result of lapsed statutes			(2,119)						(17,584)
Reductions for settlements with tax authorities			(639)						—
Ending balance			$	20,514					$	20,966

Schedule of liability for uncertain tax positions

The liability for UTP is reflected on the Balance Sheets as follows:

			Fiscal Year Ended
(in thousands)			January 25, 2026						January 26, 2025
Deferred tax assets - non-current			$	13,943					$	14,255
Other long-term liabilities			4,625						4,775
Total uncertain tax positions			$	18,568					$	19,030

Schedule of income taxes paid

A reconciliation of the income taxes paid (net of refunds received) is as follows:

(in thousands)			January 25, 2026
Federal taxes			$	(997)
State taxes			439
Foreign taxes:
Australia			5,546
France			(1,199)
Hong Kong			457
India			1,065
Japan			242
Mexico			317
Sweden			1,176
Switzerland			359
UK			(3,806)
Other Foreign			477
Total cash taxes paid			$	4,076

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