XML 52 R39.htm IDEA: XBRL DOCUMENT
v3.24.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Jan. 31, 2024
Income Tax Disclosure [Abstract] |
Summary of Loss before Income Taxes | Loss before income taxes consisted of the following for the periods indicated:
|  | Year Ended January 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (in thousands) |
U.S. operations |  | $ | (33,953 | ) |  | $ | (18,968 | ) |  | $ | (5,842 | )
Non-U.S. operations |  |  | (114,577 | ) |  |  | (51,970 | ) |  |  | (22,799 | )
Loss before income taxes |  | $ | (148,530 | ) |  | $ | (70,938 | ) |  | $ | (28,641 | )
Schedule of Income Tax Provision (Benefit) | Income tax provision (benefit) consisted of the following for the periods indicated:
|  | Year Ended January 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (in thousands) |
Current: |  |  |  |  |  |  |  |  |
U.S. federal tax |  | $ | 303 |  |  | $ | (3,525 | ) |  | $ | 907 |
U.S. state taxes |  |  | 1 |  |  |  | 175 |  |  |  | — |
Non-U.S. foreign taxes |  |  | 1,711 |  |  |  | 2,395 |  |  |  | 1,778 |
|  |  | 2,015 |  |  |  | (955 | ) |  |  | 2,685 |
Deferred: |  |  |  |  |  |  |  |  |
U.S. federal tax |  |  | 18,909 |  |  |  | (4,231 | ) |  |  | (4,819 | )
U.S. state taxes |  |  | — |  |  |  | — |  |  |  | (14 | )
Non-U.S. foreign taxes |  |  | (37 | ) |  |  | (366 | ) |  |  | (82 | )
|  |  | 18,872 |  |  |  | (4,597 | ) |  |  | (4,915 | )
Provision (benefit) for income taxes |  | $ | 20,887 |  |  | $ | (5,552 | ) |  | $ | (2,230 | )
Schedule of Reconciliation Between the Provision (Benefit) for Income Taxes at the Statutory Rate and the Effective Tax Rate | For purposes of the reconciliation between the provision (benefit) for income taxes at the statutory rate and the effective tax rate, a notional U.S. 21% rate is applied to pretax income (loss) as a result of the following for the periods indicated, respectively:
|  | Year Ended January 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (in thousands) |
Provision at U.S. notional statutory rate |  | $ | (31,191 | ) |  | $ | (14,897 | ) |  | $ | (6,015 | )
U.S. state taxes |  |  | 6 |  |  |  | 114 |  |  |  | (11 | )
Non-U.S. foreign tax differential |  |  | 25,736 |  |  |  | 12,943 |  |  |  | 6,483 |
Stock-based compensation |  |  | 4,847 |  |  |  | 10,004 |  |  |  | 1,900 |
U.S. R&D credit |  |  | (7,232 | ) |  |  | (5,045 | ) |  |  | (5,886 | )
Valuation allowance |  |  | 28,311 |  |  |  | 2,124 |  |  |  | 765 |
FIN48 interest |  |  | 45 |  |  |  | (739 | ) |  |  | 311 |
Uncertain tax position release |  |  | — |  |  |  | (10,188 | ) |  |  | — |
Other |  |  | 365 |  |  |  | 132 |  |  |  | 223 |
Provision (benefit) for income taxes |  | $ | 20,887 |  |  | $ | (5,552 | ) |  | $ | (2,230 | )
Schedule of Deferred Tax Assets and Liabilities | Temporary differences that gave rise to significant portions of the Company’s deferred tax assets and liabilities at January 31, 2024 and 2023 were as follows:
|  | As of January 31, |
|  | 2024 |  |  | 2023 |
|  | (in thousands) |
Deferred tax assets: |  |  |  |  |  |
Federal and state credits |  | $ | 51,344 |  |  | $ | 40,134 |
Net operating losses |  |  | 6,099 |  |  |  | 6,659 |
Expenses not currently deductible |  |  | 3,988 |  |  |  | 3,164 |
Operating lease liabilities |  |  | 1,009 |  |  |  | 1,582 |
Stock-based compensation |  |  | 3,820 |  |  |  | 3,678 |
Other deferred tax assets |  |  | 220 |  |  |  | 262 |
Gross deferred tax assets |  |  | 66,480 |  |  |  | 55,479 |
Valuation allowance |  |  | (60,036 | ) |  |  | (28,596 | )
Total deferred tax assets |  | $ | 6,444 |  |  | $ | 26,883 |
Deferred tax liabilities |  |  |  |  |  |
Intangible assets |  |  | (5,722 | ) |  |  | (6,782 | )
Property and equipment |  |  | (460 | ) |  |  | (617 | )
Operating lease assets |  |  | (918 | ) |  |  | (1,452 | )
Net deferred tax assets (liabilities) |  | $ | (656 | ) |  | $ | 18,032 |
Summary of Tax Valuation Allowance | Tax valuation allowance for the periods indicated below were as follows:
|  |  |  |  |  |  |  |  |  |  | Deductions |  |  |  |
|  |  |  |  |  |  |  | Additions |  |  | Charged to |  |  |  |
|  | Balance at |  |  | Additions |  |  | Charged to |  |  | Expenses |  |  | Balance at |
|  | Beginning of |  |  | Charged to |  |  | Other |  |  | or Other |  |  | End of |
|  | Period |  |  | Expenses |  |  | Account |  |  | Accounts |  |  | Period |
|  | (in thousands) |
Tax Valuation Allowance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Year ended January 31, 2024 |  | $ | 28,596 |  |  |  | 31,440 |  |  |  | — |  |  |  | — |  |  | $ | 60,036 |
Year ended January 31, 2023 |  | $ | 24,083 |  |  |  | 4,513 |  |  |  | — |  |  |  | — |  |  | $ | 28,596 |
Year ended January 31, 2022 |  | $ | 17,962 |  |  |  | 4,874 |  |  |  | 1,247 |  |  |  | — |  |  | $ | 24,083 |
Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | The following table sets forth a reconciliation of the beginning and ending amount of unrecognized tax benefits:
|  | Year Ended January 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (in thousands) |
Beginning balance: |  | $ | 21,656 |  |  | $ | 30,884 |  |  | $ | 29,527 |
Additions based on tax positions related to the current year |  |  | 997 |  |  |  | 1,033 |  |  |  | 1,412 |
Additions for tax positions of prior years |  |  | 168 |  |  |  | 195 |  |  |  | 55 |
Reductions for tax positions in prior years |  |  | (38 | ) |  |  | (45 | ) |  |  | — |
Settlements for prior periods |  |  | — |  |  |  | — |  |  |  | — |
Lapse of applicable statute of limitations |  |  | (155 | ) |  |  | (10,411 | ) |  |  | (110 | )
Ending balance: |  | $ | 22,628 |  |  | $ | 21,656 |  |  | $ | 30,884 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 19 -SubTopic 10 -Topic 740 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-19 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration