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v3.25.4

Income Taxes (Tables) | 12 Months Ended
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Jan. 31, 2026
Income Tax Disclosure [Abstract] |
Schedule of Income Before Income Taxes | The components of income before income taxes were as follows (in thousands):
|  | Year Ended January 31, |
|  | 2026 |  |  | 2025 |  |  | 2024 |
United States |  | $ | 21,047 |  |  | $ | 13,890 |  |  | $ | 14,174 |
Foreign |  |  | 77,682 |  |  |  | 71,270 |  |  |  | 48,412 |
Total |  | $ | 98,729 |  |  | $ | 85,160 |  |  | $ | 62,586 |
Schedule of Components of Benefit from Income Taxes | The components of benefit from income taxes were as follows (in thousands):
|  | Year Ended January 31, |
|  | 2026 |  |  | 2025 |  |  | 2024 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 20 |  |  | $ | — |  |  | $ | — |
State |  |  | 1,330 |  |  |  | 1,196 |  |  |  | 1,887 |
Foreign |  |  | 13,540 |  |  |  | 10,568 |  |  |  | 6,959 |
Total |  |  | 14,890 |  |  |  | 11,764 |  |  |  | 8,846 |
Deferred: |  |  |  |  |  |  |  |  |
Federal |  |  | (38,611 | ) |  |  | (154,032 | ) |  |  | (91 | )
State |  |  | 855 |  |  |  | (23,614 | ) |  |  | 59 |
Foreign |  |  | 6,212 |  |  |  | 6,421 |  |  |  | (75,260 | )
Total |  |  | (31,544 | ) |  |  | (171,225 | ) |  |  | (75,292 | )
Benefit from income taxes |  | $ | (16,654 | ) |  | $ | (159,461 | ) |  | $ | (66,446 | )
Schedule of Reconciliation of the Statutory U.S. Federal Income Tax Rate and the Benefit from Income Taxes | A reconciliation of the benefit from income taxes to the amount computed by applying the 21% statutory U.S. federal income tax rate to income before income taxes for the year ended January 31, 2026, after the adoption of ASU 2023-09, is as follows (in thousands):
|  |  | Year Ended January 31, 2026 |
|  |  | $ |  |  | % |
Tax at statutory federal rate |  |  | $ | 20,763 |  |  |  | 21.0 | %
State and local income taxes, net of federal benefit (1) |  |  |  | 1,883 |  |  |  | 1.9 | %
Foreign tax effects: |  |  |  |  |  |  |
Japan |  |  |  |  |  |  |
Statutory rate difference between Japan and United States |  |  |  | 1,544 |  |  |  | 1.6 | %
Other |  | - |  |  | (498 | ) |  |  | (0.5 | )%
United Kingdom |  |  |  |  |  |  |
Statutory rate difference between United Kingdom and United States |  |  |  | 2,314 |  |  |  | 2.3 | %
Stock-based compensation windfalls |  |  |  | (2,065 | ) |  |  | (2.1 | )%
Intra-group transfer of intellectual property |  |  |  | (1,318 | ) |  |  | (1.3 | )%
Other |  |  |  | (99 | ) |  |  | (0.1 | )%
Netherlands |  |  |  |  |  |  |
Prior period examination adjustment |  |  |  | 3,173 |  |  |  | 3.2 | %
Other |  |  |  | 57 |  |  |  | 0.1 | %
Other foreign jurisdictions |  |  |  | 320 |  |  |  | 0.3 | %
Effect of cross-border tax laws: |  |  |  |  |  |  |
Global intangible low-taxed income |  |  |  | 3,498 |  |  |  | 3.5 | %
Subpart F income inclusion |  |  |  | 1,473 |  |  |  | 1.5 | %
Tax credits: |  |  |  |  |  |  |
Research and development tax credits |  |  |  | (22,258 | ) |  |  | (22.5 | )%
Nontaxable or nondeductible items: |  |  |  |  |  |  |
Non-deductible stock-based compensation |  |  |  | 12,626 |  |  |  | 12.8 | %
Stock-based compensation windfalls |  |  |  | (6,448 | ) |  |  | (6.5 | )%
Other |  |  |  | 1,041 |  |  |  | 1.1 | %
Changes in unrecognized tax benefits |  |  |  | (32,703 | ) |  |  | (33.1 | )%
Other Adjustments |  |  |  | 43 |  |  |  | 0.0 | %
Total benefit from income taxes |  |  | $ | (16,654 | ) |  |  | (16.8 | )%
(1) The states that contribute to the majority (greater than 50%) of the tax effect in this category include Illinois, New Jersey, New York, and Massachusetts. A reconciliation of the benefit from income taxes to the amount computed by applying the 21% statutory U.S. federal income tax rate to income before income taxes for the years ended January 31, 2025 and 2024, prior to the adoption of ASU 2023-09, is as follows (in thousands):
|  | Year Ended January 31, |
|  | 2025 |  |  | 2024 |
Tax at statutory federal rate |  | $ | 17,884 |  |  | $ | 13,139 |
State taxes, net of federal benefit |  |  | 2,782 |  |  |  | 3,792 |
U.S. tax on foreign earnings |  |  | 17,389 |  |  |  | 14,569 |
Foreign rate difference |  |  | 2,022 |  |  |  | 819 |
Nondeductible expenses |  |  | 828 |  |  |  | 701 |
Induced conversion expense |  |  | 2,129 |  |  |  | — |
Research and development credit |  |  | (7,880 | ) |  |  | (7,916 | )
Change in reserve for unrecognized tax benefits |  |  | 7,880 |  |  |  | 7,916 |
Stock-based compensation |  |  | 1,032 |  |  |  | 3,555 |
Change in valuation allowance, including the effect of tax rate change |  |  | (203,542 | ) |  |  | (102,573 | )
Other |  |  | 15 |  |  |  | (448 | )
Total benefit from income taxes |  | $ | (159,461 | ) |  | $ | (66,446 | )
Schedule of Components of Deferred Tax Assets and Liabilities | The significant components of our deferred tax assets and liabilities were as follows (in thousands):
|  | January 31, |
|  | 2026 |  |  | 2025 |
Deferred tax assets: |  |  |  |  |  |
Net operating loss carryover |  | $ | 119,976 |  |  | $ | 149,519 |
Capitalized research and development |  |  | 104,649 |  |  |  | 93,398 |
Depreciation and amortization |  |  | 14,787 |  |  |  | 11,218 |
Operating lease liabilities |  |  | 20,550 |  |  |  | 20,582 |
Tax credit carryover |  |  | 97,879 |  |  |  | 4,058 |
Other |  |  | 14,976 |  |  |  | 16,319 |
Total deferred tax assets |  |  | 372,817 |  |  |  | 295,094 |
Valuation allowance |  |  | (66,601 | ) |  |  | (28,526 | )
Total deferred tax assets, net of valuation allowance |  |  | 306,216 |  |  |  | 266,568 |
Deferred tax liabilities: |  |  |  |  |  |
Operating lease right-of-use assets, net |  |  | (17,033 | ) |  |  | (15,307 | )
Deferred commissions |  |  | (4,273 | ) |  |  | (3,502 | )
Goodwill with indefinite life amortization |  |  | (2,302 | ) |  |  | (1,932 | )
Other |  |  | (1,499 | ) |  |  | (57 | )
Total deferred tax liabilities |  |  | (25,107 | ) |  |  | (20,798 | )
Net deferred tax assets |  | $ | 281,109 |  |  | $ | 245,770 |
Schedule of Reconciliation of Unrecognized Tax Benefit | A reconciliation of the gross unrecognized tax benefits is as follows (in thousands):
|  | Year Ended January 31, |
|  | 2026 |  |  | 2025 |  |  | 2024 |
Unrecognized tax benefits—beginning of period |  | $ | 132,574 |  |  | $ | 118,981 |  |  | $ | 103,636 |
Reductions for tax positions related to prior year |  |  | (69,833 | ) |  |  | (49 | ) |  |  | — |
Additions for tax positions related to prior year |  |  | — |  |  |  | — |  |  |  | 1,733 |
Additions for tax positions related to current year |  |  | 3,764 |  |  |  | 13,642 |  |  |  | 13,612 |
Unrecognized tax benefits—end of period |  | $ | 66,505 |  |  | $ | 132,574 |  |  | $ | 118,981 |
Summary of Cash Paid for Income Taxes Net of Refund Received | The amounts of cash paid for income taxes, net of refunds received, were as follows (in thousands):
|  | Year Ended January 31, |
|  | 2026 |
State |  | $ | 1,327 |
Foreign: |  |  |
United Kingdom |  |  | 7,866 |
Japan |  |  | 1,148 |
Netherlands |  |  | 808 |
Poland |  |  | 796 |
Other |  |  | 565 |
Cash paid for income taxes, net of refunds received |  | $ | 12,510 |

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