INCOME TAXES (Tables)

12 Months Ended

Jan. 31, 2026

Schedule of Income before Income Tax, Domestic and Foreign

Loss before income tax expense is as follows (in thousands):


	Year Ended January 31,
	2026		2025		2024
United States	$	(389,326)	$	(206,209)	$	(345,485)
Foreign	(6,596)		34,701		19,361
Loss before income tax expense	$	(395,922)	$	(171,508)	$	(326,124)

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense are as follows (in thousands):


	Year Ended January 31,
	2026		2025		2024
Current:
Federal	$	—	$	(259)	$	(135)
State	259		128		36
Foreign	13,155		9,700		8,751
Total current tax expense	13,414		9,569		8,652
Deferred:
Federal	—		—		—
State	11		2		(52)
Foreign	(11,317)		(1)		(3,172)
Total deferred tax expense (benefit)	(11,306)		1		(3,224)
Total income tax expense	$	2,108	$	9,570	$	5,428

Schedule of Effective Income Tax Rate Reconciliation

The income tax expense differs from the amount computed by applying the federal statutory income tax rate to income before taxes as follows (in thousands):


	Year Ended January 31,
	2026		2025		2024
Loss before income tax expense	$	(395,922)	$	(171,508)	$	(326,124)
Expected tax benefit at Federal Rate of 21%	(83,144)		(36,017)		(68,486)
State taxes	273		130		(16)
Taxes on foreign earnings	3,224		2,412		1,513
Stock-based compensation	2,833		4,943		4,811
Disallowed interest on debt	31,749		3,229		11,082
Research and development credits	(2,771)		(3,912)		(4,102)
Effects of cross-border tax laws	1,482		3,476		343
Non-deductible expenses	26,488		1,484		(147)
Change in valuation allowance	21,974		33,825		60,430
Total income tax expense	$	2,108	$	9,570	$	5,428

Schedule of Net Deferred Tax Assets and Liabilities

The components of net deferred tax assets and liabilities consisted of the following (in thousands):


	Year Ended January 31,
	2026		2025
Deferred tax assets:
Net operating loss carryforwards	$	222,333	$	211,217
Research and development credits	20,508		18,156
Reserves and accruals	45,349		23,841
Depreciation and amortization	140		611
Capitalized research and development costs	57,838		52,012
Operating lease liabilities	9,817		12,100
Stock-based compensation	36,764		41,834
Total deferred tax assets	392,749		359,771
Less: Valuation allowance	(369,044)		(336,627)
Net deferred tax assets	23,705		23,144
Deferred tax liabilities:
Operating lease right-of-use asset	(8,527)		(10,499)
Reserves and accruals	(164)		(45)
Depreciation and amortization	(4,455)		(13,164)
Stock-based compensation	(341)		(621)
Total deferred tax liabilities	(13,487)		(24,329)
Total net deferred tax assets (liabilities)	$	10,218	$	(1,185)

Schedule of Total Gross Amount Of Unrecognized Tax Benefits

The aggregate changes in the Company’s total gross amount of unrecognized tax benefits are summarized as follows (in thousands):


	Year Ended January 31,
	2026		2025		2024
Beginning balance	$	9,457	$	8,783	$	7,477
Additions based on tax position related to the current year	1,398		1,641		1,521
Additions for tax positions for the prior year	307		68		361
Decrease related to prior year tax positions	(159)		(241)		(386)
Decrease related to expiration of statute of limitations	(99)		(794)		(190)
Ending balance	$	10,904	$	9,457	$	8,783