In June 2024, the Company announced a plan to reduce its global headcount by approximately 17% of the Company’s total number of employees prior to the reduction (the “2024 headcount reduction”). This action was taken consistent with the Company’s ongoing focus on aligning its resources to the market opportunity, improving operational efficiency, and supporting the long-term growth of the business.

As a result of the 2024 headcount reduction, the Company recognized costs for one-time employee termination benefits consisting of severance and other employee costs. The Company also recognized a stock-based compensation benefit primarily related to the reversal of previously recognized stock-based compensation expenses for unvested stock awards. A summary of the restructuring charges recognized during the three months ended July 31, 2024 is provided in the tables below:


(in thousands)	Severance and Other Employee Costs
Cost of revenue	$	1,184
Research and development	3,540
Sales and marketing	4,433
General and administrative	1,342
Total restructuring charges	$	10,499

There were no restructuring charges recognized during the three or six months ended July 31, 2025. The 2024 headcount reduction, including cash payments, was substantially complete as of January 31, 2025.