v3.26.1
Income Taxes (Tables)
 12 Months Ended
Jan. 31, 2026
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
The components of net loss before income taxes were as follows:
Year Ended January 31,
202620252024
(in thousands)
Domestic$(220,155)$(277,823)$(457,788)
Foreign4,006 5,129 158 
Net loss before income taxes$(216,149)$(272,694)$(457,630)
Schedule of Components of Income Tax Expense (Benefit)
The components of the provision for (benefit from) income taxes were as follows:
Year Ended January 31,
202620252024
(in thousands)
Current
Federal$— $61 $218 
State123 13 17 
Foreign4,366 3,998 1,942 
Total current$4,489 $4,072 $2,177 
Deferred
Foreign(441)300 (2,198)
Total deferred(441)300 (2,198)
Total provision for (benefit from) income taxes
$4,048 $4,372 $(21)
Schedule of Effective Income Tax Rate Reconciliation
The table below provides the updated requirements of ASU 2023-09 for the Company’s effective tax rate for the year ended January 31, 2026. See Note 1, Description of the Business and Summary of Significant Accounting Policies for additional details on the adoption of ASU 2023-09.

Year Ended January 31,
2026
U.S. federal statutory tax rate
$(45,391)21.0%
State and local income taxes, net of federal tax effect
(676)0.3 %
Effect of cross-border tax laws513 (0.2%)
Change in valuation allowances30,507 (14.1%)
Nondeductible items
Nondeductible stock-based compensation11,145 (5.2%)
Permanent difference on debt Exchange Transaction3,164 (1.5)%
Other adjustments1,401 (0.7)%
Changes in unrecognized tax benefits3,331 (1.5)%
Foreign tax effects54 — %
Total income tax expense$4,048 (1.9)%
The Company presents the impact of uncertain tax positions in the effective tax rate reconciliation on an aggregate worldwide basis. This uncertain tax position line amounts includes the positions related to federal and state research and development (“R&D”) credits as well as transfer pricing matters.  Accordingly, amounts related to uncertain tax positions are included in the “Changes in unrecognized tax benefits” line and are not allocated to specific jurisdictions, such as federal, state, or foreign taxes. As a result, certain items related to state or foreign tax matters may be reflected within this line rather than within the respective jurisdictional categories in the rate reconciliation. Greater than 50% of the state tax benefit was primarily due to California R&D credits.

As previously disclosed for the periods ended January 31, 2025 and 2024, prior to the adoption of ASU 2023-09, the effective income tax rate differed from the statutory federal income tax rate as follows:
Year Ended January 31,
20252024
Tax at federal statutory rate21.0%21.0%
Stock-based compensation(7.6%)(2.6%)
Change in valuation allowance(13.4%)(19.5%)
Research and development tax credits0.4%0.6%
Other(2.0)%0.6%
Effective tax rate(1.6)%0.1 %
Schedule of Deferred Tax Assets and Liabilities
The significant components of the Company’s deferred tax assets and liabilities as of January 31, 2026 and 2025 were as follows:
Year Ended January 31,
20262025
(in thousands)
Deferred tax assets:
Net operating losses$304,482 $278,637 
Research & development credits45,207 44,047 
Deferred revenue28,649 33,188 
Accruals and reserves18,307 20,377 
Stock-based compensation2,732 3,860 
Operating lease liabilities3,953 5,024 
Capitalized research & development expense71,713 78,632 
Interest expense limitation
12,340 8,550 
Inventory reserves13,022 15,350 
Debt book-tax basis difference19,339 — 
UNICAP adjustment9,243 8,850 
Depreciation and amortization296 — 
Total deferred tax assets529,283 496,515 
Less: valuation allowance(523,065)(486,356)
Deferred tax liabilities:
Depreciation and amortization— (345)
Operating lease right-of-use assets(2,905)(3,706)
Acquired intangible assets(14,229)(15,598)
Deferred commission
(1,933)(2,347)
Other(189)— 
Total deferred tax liabilities(19,256)(21,996)
Net deferred tax assets (liabilities)$(13,038)$(11,837)
Schedule of Unrecognized Tax Benefits Roll Forward
The following table summarizes the activity related to unrecognized tax benefits as follows:
Year Ended January 31,
202620252024
(in thousands)
Unrecognized tax benefits - beginning$35,533 $32,093 $25,762 
Gross changes - prior period tax position— (103)— 
Gross changes - current period tax position3,537 3,543 6,331 
Unrecognized tax benefits — ending$39,070 $35,533 $32,093 
Schedule of Income Taxes Paid (Net of Refunds)
Income taxes paid are as follows (in thousands):

Year Ended January 31,
2026
(in thousands)
U.S. State$— 
Foreign
India928 
UK644 
Germany408 
Canada399 
Netherlands276 
Austria176 
All other foreign53 
Income taxes paid$2,884