v3.26.1
Subsequent Events
3 Months Ended
Apr. 30, 2026
Subsequent Events [Abstract]  
Subsequent Events
14. Subsequent Events
On June 1, 2026, the board of directors of the Company approved a restructuring plan (the “Plan”). The Company anticipates approximately 14% of its global workforce as of January 31, 2026 may be impacted by the Plan. The Plan is intended to help position the Company for long-term success by realigning its operating structure to optimize execution against its strategic priorities. The Company also expects to exit 22 countries to reduce its team member geographic footprint by approximately 37%. As a result of the Plan, the Company expects to incur approximately $30 million to $35 million in pre-tax restructuring charges, consisting primarily of one-time severance, employee termination benefit costs, and retention costs associated with the execution of the Plan, of which approximately $19 million is expected to be incurred in the second quarter of fiscal year 2027, with the majority of the remainder expected to be recognized over the following three quarters. The Company expects the Plan to be substantially complete by the end of fiscal 2027. Additional costs associated with the Plan may be
identified and will be disclosed when reasonably estimable. The charges that the Company expects to incur are subject to a number of assumptions, including legal requirements in various jurisdictions.
On May 14, 2026, the Company’s Executive Chair Sytse Sijbrandij converted 15,134,451 shares of Class B common stock into 15,134,451 shares of Class A common stock. Each share of Class B common stock carries 10 votes per share and is convertible into one share of Class A common stock, which carries one vote per share. Following the conversion, Mr. Sijbrandij remains the Company's largest individual Class A shareholder.