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v3.25.1

Income Taxes (Tables) | 12 Months Ended
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Jan. 31, 2025
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, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
|  | (in thousands) |
U.S. operations |  | $ | (35,572 | ) |  | $ | (33,953 | ) |  | $ | (18,968 | )
Non-U.S. operations |  |  | (82,156 | ) |  |  | (114,577 | ) |  |  | (51,970 | )
Loss before income taxes |  | $ | (117,728 | ) |  | $ | (148,530 | ) |  | $ | (70,938 | )
Schedule of Income Tax Provision (Benefit) | Income tax provision (benefit) consisted of the following for the periods indicated:
|  | Year Ended January 31, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
|  | (in thousands) |
Current: |  |  |  |  |  |  |  |  |
U.S. federal tax |  | $ | (2,650 | ) |  | $ | 303 |  |  | $ | (3,525 | )
U.S. state taxes |  |  | 4 |  |  |  | 1 |  |  |  | 175 |
Non-U.S. foreign taxes |  |  | 2,395 |  |  |  | 1,711 |  |  |  | 2,395 |
|  |  | (251 | ) |  |  | 2,015 |  |  |  | (955 | )
Deferred: |  |  |  |  |  |  |  |  |
U.S. federal tax |  |  | — |  |  |  | 18,909 |  |  |  | (4,231 | )
U.S. state taxes |  |  | — |  |  |  | — |  |  |  | — |
Non-U.S. foreign taxes |  |  | (351 | ) |  |  | (37 | ) |  |  | (366 | )
|  |  | (351 | ) |  |  | 18,872 |  |  |  | (4,597 | )
Provision (benefit) for income taxes |  | $ | (602 | ) |  | $ | 20,887 |  |  | $ | (5,552 | )
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, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
|  | (in thousands) |
Provision at U.S. notional statutory rate |  | $ | (24,723 | ) |  | $ | (31,191 | ) |  | $ | (14,897 | )
U.S. state taxes |  |  | 2 |  |  |  | 6 |  |  |  | 114 |
Non-U.S. foreign tax differential |  |  | 19,293 |  |  |  | 25,736 |  |  |  | 12,943 |
Stock-based compensation |  |  | 6,985 |  |  |  | 4,847 |  |  |  | 10,004 |
U.S. R&D credit |  |  | (5,109 | ) |  |  | (7,232 | ) |  |  | (5,045 | )
Valuation allowance |  |  | 5,022 |  |  |  | 28,311 |  |  |  | 2,124 |
FIN48 interest |  |  | 12 |  |  |  | 45 |  |  |  | (739 | )
Uncertain tax position release |  |  | (2,766 | ) |  |  | — |  |  |  | (10,188 | )
Other |  |  | 682 |  |  |  | 365 |  |  |  | 132 |
Provision (benefit) for income taxes |  | $ | (602 | ) |  | $ | 20,887 |  |  | $ | (5,552 | )
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, 2025 and 2024 were as follows:
|  | As of January 31, |
|  | 2025 |  |  | 2024 |
|  | (in thousands) |
Deferred tax assets: |  |  |  |  |  |
Federal and state credits |  | $ | 59,102 |  |  | $ | 51,344 |
Net operating losses |  |  | 6,333 |  |  |  | 6,099 |
Expenses not currently deductible |  |  | 3,822 |  |  |  | 3,988 |
Operating lease liabilities |  |  | 611 |  |  |  | 1,009 |
Stock-based compensation |  |  | 2,877 |  |  |  | 3,820 |
Other deferred tax assets |  |  | 496 |  |  |  | 220 |
Gross deferred tax assets |  |  | 73,241 |  |  |  | 66,480 |
Valuation allowance |  |  | (68,047 | ) |  |  | (60,036 | )
Total deferred tax assets |  | $ | 5,194 |  |  | $ | 6,444 |
Deferred tax liabilities |  |  |  |  |  |
Intangible assets |  |  | (4,379 | ) |  |  | (5,722 | )
Property and equipment |  |  | (450 | ) |  |  | (460 | )
Operating lease assets |  |  | (839 | ) |  |  | (918 | )
Net deferred tax assets (liabilities) |  | $ | (474 | ) |  | $ | (656 | )
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, 2025 |  | $ | 60,036 |  |  |  | 8,011 |  |  |  | — |  |  |  | — |  |  | $ | 68,047 |
Year ended January 31, 2024 |  | $ | 28,596 |  |  |  | 31,440 |  |  |  | — |  |  |  | — |  |  | $ | 60,036 |
Year ended January 31, 2023 |  | $ | 24,083 |  |  |  | 4,513 |  |  |  | — |  |  |  | — |  |  | $ | 28,596 |
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, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
|  | (in thousands) |
Beginning balance: |  | $ | 22,628 |  |  | $ | 21,656 |  |  | $ | 30,884 |
Additions based on tax positions related to the current year |  |  | 2,123 |  |  |  | 997 |  |  |  | 1,033 |
Additions for tax positions of prior years |  |  | — |  |  |  | 168 |  |  |  | 195 |
Reductions for tax positions in prior years |  |  | — |  |  |  | (38 | ) |  |  | (45 | )
Settlements for prior periods |  |  | — |  |  |  | — |  |  |  | — |
Lapse of applicable statute of limitations |  |  | (4,255 | ) |  |  | (155 | ) |  |  | (10,411 | )
Ending balance: |  | $ | 20,496 |  |  | $ | 22,628 |  |  | $ | 21,656 |

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