The Company has entered into various non-cancellable operating leases for its office spaces with lease periods expiring through fiscal 2033. The operating lease agreements generally provide for rental payments on a graduated basis and for options to renew, which could increase future minimum lease payments if exercised.

Lease right-of-use assets and liabilities are recognized at the lease’s commencement date based on the present value of lease payments over the lease term. As the implicit rate of the Company's leases is not readily determinable, the Company uses its incremental borrowing rate based on the information available on the commencement date to determine the present value of lease payments. The lease right-of-use assets also include any lease payments made and exclude lease incentives such as tenant improvement allowances.

The Company’s operating leases typically include non-lease components such as common-area maintenance costs. The Company has elected a practical expedient that allows it to include non-lease components with lease payments for the purpose of calculating lease right-of-use assets and liabilities, to the extent that they are fixed. Non-lease components that are not fixed are expensed as incurred as variable lease payments.

Leases with a term of one year or less are not recognized on the Company’s condensed consolidated balance sheets, but rather are expensed on a straight-line basis over the lease term.

In June 2023, the Company entered into a sublease for a portion of its San Francisco office location. The sublease term ended during the three months ended April 30, 2025. Sublease income, which was recorded as a reduction of rent expense, was zero for the three months ended April 30, 2026 and was not material for the three months ended April 30, 2025.

The following table presents information about leases on the condensed consolidated balance sheet as of the dates indicated (in thousands):


	April 30, 2026		January 31, 2026
Assets:
Lease right-of-use assets	$	11,516	$	12,509
Liabilities:
Lease liabilities, current	$	5,249	$	5,000
Lease liabilities, non-current	$	11,174	$	12,598

As of April 30, 2026 and January 31, 2026, the weighted average remaining lease term was 3.8 years and 3.6 years, respectively. As of April 30, 2026 and January 31, 2026, the weighted average discount rate used to determine the net present value of the lease liabilities was 6.0% and 5.9%, respectively.

The following table presents information about leases on the condensed consolidated statement of operations for the periods indicated (in thousands):


	Three months ended April 30,
	2026		2025
Operating lease expense	$	1,157	$	586
Short-term lease expense	483		581
Variable lease expense	337		229

The following table presents supplemental cash flow information about the Company’s leases for the periods indicated (in thousands):


	Three months ended April 30,
	2026		2025
Cash paid for amounts included in the measurement of lease liabilities	$	1,202	$	1,398