Leases

3 Months Ended

Apr. 30, 2026

The Company’s lease portfolio consists solely of office space with lease terms ranging from approximately one to ten years. Certain lease agreements include options to renew or terminate the lease, which are not reasonably certain to be exercised and therefore are not factored into the determination of lease payments.

The components of lease cost reflected on the consolidated statements of operations were as follows (in thousands):


	Three Months Ended April 30,
	2026		2025
Operating lease cost	$	4,884	$	4,521
Variable lease cost	997		867
Short-term lease cost	10		297
Total net lease cost	$	5,891	$	5,685

The future maturities of the Company’s operating lease liabilities by fiscal year are as follows (in thousands):


	Amount
Remainder of 2027	$	15,607
2028	17,262
2029	14,938
2030	14,627
2031	13,290
Thereafter	27,658
Total future undiscounted lease payments	$	103,382
Less: imputed interest	(21,926)
Total reported lease liability	$	81,456

The Company's lease terms and discount rates are as follows:


	April 30,
	2026		2025
Weighted-average remaining lease term (years)	6.1		7.0
Weighted-average discount rate	7.7	%	7.4	%

Other information for the Company's leases is as follows (in thousands):


	Three Months Ended April 30,
	2026		2025
Cash paid for amounts included in the measurement of lease liabilities	$	4,459	$	4,992
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	$	2,373	$	828