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Stockholders' Equity
 9 Months Ended
Oct. 31, 2025
Equity [Abstract]  
Stockholders' Equity

Note 7: Stockholders’ Equity

The Company has a stock-based compensation plan, the 2015 Equity Incentive Plan (the “EIP”), pursuant to which it has granted incentive and nonstatutory stock options and restricted stock units. Additionally, the Company's 2015 Employee Stock Purchase Plan (the “ESPP”) allows eligible employees to purchase shares of common stock at a discounted price through payroll deductions.

On June 5, 2025, our stockholders approved the amended and restated EIP. The EIP was amended to extend the term for 10 years, remove the evergreen provision, and increase the number of shares authorized for issuance by 330,000, among other items. Additionally, on June 5, 2025, our stockholders approved the amended and restated ESPP. The ESPP was amended to eliminate the term of thereof so that the ESPP will not expire, remove the evergreen provision, and increase the number of shares authorized for issuance by 795,144, among other items.

Stock Options. Stock option activity for the nine months ended October 31, 2025 was as follows:

 

 

 

 

 

Weighted-Average

 

Aggregate

 

 

Shares

 

Exercise Price

 

Intrinsic Value

 

 

(in thousands)

 

Per Share

 

(in thousands)

Balance as of January 31, 2025

 

 

653

 

$

13.14

 

$

1,325

Granted

 

 

23

 

$

12.90

 

 

 

Exercised

 

 

(83)

 

$

9.53

 

 

 

Canceled

 

 

(47)

 

$

14.96

 

 

 

Balance as of October 31, 2025

 

 

546

 

$

13.53

 

$

157

Vested and exercisable as of October 31, 2025

 

 

511

 

$

13.48

 

$

157

The aggregate intrinsic value of vested options exercised during the nine months ended October 31, 2025 and 2024 was $0.4 million and $0.8 million, respectively. During the nine months ended October 31, 2025, the Company granted 23,000 stock options with a $6.31 per share weighted average fair value. During the nine months ended October 31, 2024, no stock options were granted.

Restricted Stock Units. RSU activity for the nine months ended October 31, 2025 was as follows:

 

 

Shares
(in thousands)

 

Weighted-Average
Grant Date Fair
Value Per Share

Balance as of January 31, 2025

 

 

1,856

 

$

11.44

Granted

 

 

1,128

 

$

13.71

Vested

 

 

(892)

 

$

12.37

Canceled

 

 

(20)

 

$

11.89

Balance as of October 31, 2025

 

 

2,072

 

$

12.27

 

Vested RSUs included shares of common stock that the Company withheld on behalf of certain employees to satisfy the minimum statutory tax withholding requirements, as defined by the Company. The Company canceled and returned these shares to the 2015 Plan, which became available under the plan terms for future issuance.

Employee Stock Purchase Plan. During each of the nine months ended October 31, 2025 and 2024, employees purchased 0.3 million shares at a weighted-average price of $7.53 per share and $7.35 per share, respectively.

Stock Repurchase Plan. In fiscal 2025, the Company's Board of Directors authorized a stock repurchase plan for repurchasing up to $14.0 million of the Company's common stock. The Company repurchased in the open market 215,493 shares and 105,994 shares of common stock for an aggregate amount of $2.8 million and $1.2 million for the three months ended October 31, 2025 and 2024, respectively, and 627,287 shares and 204,209 shares of common stock for an aggregate amount of $8.2 million and $2.0 million for the nine months ended October 31, 2025 and 2024, respectively. As of October 31, 2025, approximately $1.4 million remained authorized and available under the Company’s share repurchase plan for future share repurchases.

The purchase price for shares of common stock repurchased is reflected as a reduction to common stock and additional paid-in capital.