Stockholder’s Equity |
3 Months Ended |
|---|---|
Apr. 30, 2026 | |
| Equity [Abstract] | |
| Stockholder’s Equity | Stockholders’ Equity Class A and Class B Common Stock Prior to January 30, 2026, the Company had two classes of common stock, Class A and Class B. On January 30, 2026, pursuant to the terms of the Company’s Eighth Amended and Restated Certificate of Incorporation, each outstanding share of Class B common stock automatically converted into one share of Class A common stock (the "Conversion"). On January 30, 2026, the Company filed a certificate of retirement with the Secretary of State of the State of Delaware effecting the retirement of the shares of Class B common stock that were issued but no longer outstanding following the Conversion. Upon the effectiveness of the certificate of retirement, the Company (i) reduced the total number of authorized shares of the capital stock of the Company by 110,000,000, such that the total number of authorized shares of the Company is 2,010,000,000, consisting of (x) 2,000,000,000 shares of Class A common stock, and (y) 10,000,000 shares of preferred stock, and (ii) reduced the number of authorized shares of Class B common stock by 110,000,000, such that the number of authorized shares of Class B common stock is zero. Share Repurchase Program In March 2026, the Board of Directors authorized a share repurchase program (the “Share Repurchase Program”), under which the Company is authorized to repurchase up to $100.0 million of the Company’s Class A common stock. Under the Share Repurchase Program, the Company may repurchase shares of the Company’s Class A common stock from time to time, in such amounts as management deems appropriate, through a variety of methods, which may include through open market purchases and accelerated share repurchase (“ASR”) transactions. The timing, manner, and amount of any repurchases pursuant to the Share Repurchase Program will be determined by Management discretion and will depend on a variety of factors, including business, economic and market conditions, prevailing stock prices, and alternative investment opportunities. The Share Repurchase Program does not have an expiration date, does not require the Company to repurchase any specific number of shares of its Class A common stock, and may be modified, suspended, or terminated at any time without notice. In March 2026, the Company entered into an ASR transaction to repurchase a total of $50.0 million of the Company’s Class A common stock. During the three months ended April 30, 2026, the Company took initial delivery of 1,716,002 shares, which were immediately retired. The total number of shares will be determined upon final settlement based on the weighted-average price over the term of the ASR, less an agreed upon discount. The cost paid to repurchase shares in excess of the par value is recorded to additional paid-in-capital on the Company’s condensed consolidated balance sheets. As of April 30, 2026, a total of $50.0 million remained available for future repurchases under the Share Repurchase Program. Charitable Contributions In connection with our Pledge 1% commitment, we donated 24,116 and 24,116 shares of our Class A common stock to a charitable donor-advised fund that resulted in the recognition of $0.5 million and $1.1 million of expense within general and administrative in the consolidated statements of operations during the three months ended April 30, 2026 and 2025, respectively.
|