v3.26.1
Debt and finance leases
 3 Months Ended
Apr. 30, 2026
Debt Disclosure [Abstract]  
Debt and finance leases Debt and finance leases
As of April 30, 2026 and January 31, 2026, the Company had the following outstanding debt and finance lease liabilities:
April 30, 2026January 31, 2026
Bridge loan$— $90,000 
Revolving credit facility84,240 — 
Finance leases5,752 7,431 
Financing arrangements241 595 
Accrued interest and payments371 2,062 
Total debt and finance lease liabilities$90,604 $100,088 
Less: current portion of debt and finance lease liabilities(5,301)(7,971)
Long-term debt and finance lease liabilities$85,303 $92,117 
(a) Bridge Loan
In connection with the AccessOne Acquisition, on the Closing Date, the Company entered into the Bridge Credit Agreement with respect to a new, 364-day $110,000 secured term loan. The net proceeds of the Bridge Loan were used to fund a portion of the purchase price of the AccessOne Acquisition. The Bridge Loan had a maturity date of
November 11, 2026 and bore interest at a per annum rate equal to the three-month SOFR rate plus a margin of 4.0% per annum. The interest rate applicable to the Bridge Loan increased by 0.5% every three months following the closing date of November 12, 2025. The Company incurred $3,122 in debt issuance costs and original issue discount related to the Bridge Loan.
On the Refinancing Date, the Company terminated without penalty and repaid all outstanding indebtedness and obligations under the Bridge Loan. All security agreements and related financing arrangements entered into with the Company’s former lenders under the Bridge Loan were terminated substantially concurrently with the effectiveness of the New Capital One Credit Agreement. The Company recognized an immaterial loss on extinguishment of debt related to debt issuance costs of the Bridge Loan.
(b) Finance leases
See Note 10 - Leases for more information regarding finance leases.
(c) Previous Capital One Credit Agreement
In December 2023, the Company entered into the Previous Capital One Credit Agreement for a 5-year $50,000 senior secured asset-based revolving credit facility.
In November 2025, the Company entered into an amendment (the “First Amendment”) to the Previous Capital One Credit Facility to permit the AccessOne Acquisition and to accommodate the Bridge Loan.
On the Refinancing Date, the Previous Capital One Credit Agreement was terminated without penalty in connection with the Refinancing.
(d) New Capital One Credit Facility
On the Refinancing Date, the Company and certain of its subsidiaries entered into the New Capital One Credit Agreement providing for a senior secured revolving credit facility up to an aggregate principal amount of $275,000, of which $92,240 was borrowed on the Refinancing Date, and which includes a swingline sublimit of $20,000 and a letter of credit sublimit of $10,000. During the three months ended April 30, 2026, the Company repaid $8,000 of the outstanding balance on the New Capital One Credit Facility. As of April 30, 2026, the outstanding principal balance of the New Capital One Credit Facility was $84,240 and the unused borrowing capacity of the New Capital One Credit Facility was $190,760. The unused borrowing capacity on the New Capital One Credit Facility is available to the Company for working capital, capital expenditures, permitted acquisitions and general corporate purposes. The New Capital One Credit Agreement includes financial covenants including, but not limited to, requiring the Company to maintain a maximum Total Net Leverage Ratio and a minimum Consolidated Fixed Charge Coverage Ratio, each as defined in the New Capital One Credit Agreement. The Company was in compliance with all covenants related to the New Capital One Agreement as of April 30, 2026.
The New Capital One Credit Agreement bears interest at a rate per annum based on SOFR or a Base Rate as specified in the New Capital One Credit Agreement. Swingline loans must be Base Rate loans. As of April 30, 2026, the interest rate on the New Capital One Credit Facility was 6.2%. The Company is permitted to repay the New Capital One Credit Facility, in whole or in part, without penalty or premium, subject to certain notice periods.
The Company will pay an unused line fee equal to the product of (i) a commitment fee percentage ranging from 0.25% to 0.40% per annum based on the applicable total net leverage ratio and (ii) the unused portion of the revolving commitments under the New Capital One Credit Facility.
(e) 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 April 30, 2026, there was $241 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.
Maturities of debt and finance leases, in each of the next five years and thereafter, are as follows:
 TotalRevolving Credit FacilityFinance LeasesOther Debt
2027 (Remaining nine months)
$4,247 $— $3,635 $612 
Fiscal year ending January 31,
20282,117 — 2,117 — 
2029— — — — 
2030— — — — 
2031— — — — 
Thereafter
84,240 84,240 — — 
Total maturities of debt and finance leases$90,604 $84,240 $5,752 $612