Leases

12 Months Ended

Jan. 31, 2026

Note 7. Leases

We have entered into various non-cancellable operating lease agreements for certain of our offices with lease periods expiring primarily between fiscal years 2028 and 2037. Certain of these arrangements have free or escalating rent payment provisions and optional renewal or termination clauses. Our operating leases typically include variable lease payments, which are primarily comprised of common area maintenance and utility charges for our offices, that are determined based on actual consumption. Our operating lease agreements do not contain any residual value guarantees, covenants, or other restrictions.

We sublease certain floors of our Redwood City and London offices. Our current subleases have total lease terms ranging from 24 to 39 months that will expire at various dates by fiscal year 2029.

The components of lease cost, which were included in operating expenses in our consolidated statements of operations, were as follows (in thousands):


	Year Ended January 31,
	2026			2025
Operating lease cost, gross	$	26,931		$	29,855
Variable lease cost, gross		7,717			6,871
Sublease income		(3,620	)		(5,567	)
Other		—			386
Total lease cost	$	31,028		$	31,545

Supplemental cash flow information related to leases was as follows (in thousands):


	Year Ended January 31,
	2026		2025
Cash paid for amounts included in the measurement of operating lease liabilities	$	34,555	$	34,134
Right-of-use assets obtained in exchange of operating lease obligations		34,622		2,357

The weighted-average remaining term of operating leases was 5.38 years and 4.0 years as of January 31, 2026 and 2025, respectively. The weighted-average discount rate used to measure the present value of our operating lease liabilities was 6.01% and 6.03% as of January 31, 2026 and 2025, respectively.

As of January 31, 2026, maturities of our operating lease liabilities, which do not include short-term leases and variable lease payments, are as follows (in thousands):


Years ending January 31:	Operating Leases (1)
2027	$	32,960
2028		31,021
2029		17,850
2030		8,397
2031		7,377
Thereafter		26,288
Total lease payments		123,893
Less: imputed interest		(18,760	)
Present value of total lease liabilities	$	105,133

(1)

Non-cancellable sublease proceeds for the years ending January 31, 2027, 2028, and 2029 of $4.9 million, $5.1 million, and $1.8 million, respectively, are not included in the table above.

As of January 31, 2026, we had one operating lease for an office space that has not yet commenced. This operating lease has aggregated undiscounted future payments of $11.4 million and a lease term of approximately 10 years. This operating lease is estimated to commence during the first half of fiscal year 2027.