v3.25.3
Finance leases and other debt
 9 Months Ended
Oct. 31, 2025
Debt Disclosure [Abstract]  
Finance leases and other debt Finance leases and other debt
As of October 31, 2025 and January 31, 2025, the Company had the following outstanding finance lease liabilities and other debt:
October 31, 2025January 31, 2025
Finance leases$8,588 $14,256 
Financing arrangements941 1,913 
Accrued interest and payments23 24 
Total finance lease liabilities and other debt$9,552 $16,193 
Less: current portion of finance lease liabilities and other debt(6,199)(8,043)
Long-term finance lease liabilities and other debt$3,353 $8,150 
(a) Finance leases
See Note 10 - Leases for more information regarding finance leases.
(b) Financing agreements
In June 2023, the Company entered into a software licensing financing agreement (the "financing agreement") in order to finance its software and service licenses. As of October 31, 2025, there was $941 in outstanding principal and interest due under the financing agreement. The financing agreement requires the Company to pay $123 per month for 36 months beginning August 2023. The effective interest rate on the financing agreement is 10.5% per annum.
(c) Capital One Credit Agreement
In December 2023, the Company entered into a Credit Agreement (the "Credit Agreement") for a new 5-year $50,000 senior secured asset-based revolving credit facility (as amended, the "Capital One Credit Facility") maturing in December 2028, which includes a swingline sub-limit of at least $5,000 and a letter of credit sub-limit of
at least $5,000. The Capital One Credit Facility was entered into with Capital One, acting as administrative agent and replaced the Company’s previous senior secured revolving credit facility with Silicon Valley Bank (“SVB”). The Capital One Credit Facility will give the Company additional financial flexibility, through the facility’s five year term. The facility is available to the Company for working capital and general corporate purposes. The Capital One Credit Facility bears interest at a rate per annum based on the Secured Overnight Financing Rate (“SOFR”) or a Base Rate as specified in the Credit Agreement. As of October 31, 2025, the interest rate on the Capital One Credit Facility was 7.2%. In addition to principal and interest due under the Capital One Credit Facility, the Company is required to pay an annual fee equal to 0.25% of the unused balance of the facility. Additionally, the Company incurred creditor and third party fees of $778 upon entering into the Capital One Credit Facility. The Company recorded the fees to deferred financing costs, included within other assets on its consolidated balance sheets, and will amortize the costs over the term of the Capital One Credit Facility.
The obligations under the Capital One Credit Facility are secured by a first priority security interest in substantially all of the tangible and intangible assets at certain of the Company's U.S. subsidiaries, and by pledges of the equity of certain of the Company's U.S. subsidiaries, in each case subject to customary exclusions.
The Capital One Credit Facility includes financial covenants including, but not limited to, requiring the Company to maintain minimum Consolidated EBITDA, minimum Liquidity, a minimum Consolidated Fixed Charge Coverage Ratio, a restriction on the amount of dividends, limitations on incurring additional indebtedness, limitations on acquisitions, and limiting the amount of cash and cash equivalents the Company holds outside Capital One, each as defined in the Credit Agreement. The Company was in compliance with all covenants related to the Credit Agreement as of October 31, 2025.
The Company amended the Capital One Credit Facility on November 12, 2025. See Note 17 - Subsequent events for additional information.
Maturities of finance leases and other debt, in each of the next five years and thereafter, are as follows:
 TotalFinance LeasesOther Debt
2026 (Remaining three months)
$1,483 $1,238 $245 
Fiscal year ending January 31,
20276,040 5,321 719 
20282,029 2,029 — 
2029
— — — 
2030
— — — 
Thereafter
— — — 
Total maturities of finance leases and other debt$9,552 $8,588 $964 
The following table presents the components of interest income, net:
Three months ended October 31,Nine months ended October 31,
 2025202420252024
Interest expense (1)
$(320)$(600)(1,146)(1,761)
Interest income700 626 1,904 2,072 
Interest income, net
$380 $26 758 311 
(1) Includes amortization of deferred financing costs and original issue discount.