v3.26.1
Income Taxes
 3 Months Ended
Apr. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Three Months Ended April 30,
20262025
Income before income taxes$17,430 $34,111 
Provision for (benefit from) income taxes4,596 8,164 
Effective tax rate26.4 %23.9 %
Each quarter, the Company’s tax provision for interim periods is determined by using an estimated annual effective tax rate, adjusted for discrete items arising in that quarter. The Company updates the estimated annual effective tax rate quarterly and makes a year-to-date adjustment to the provision.
The Company’s effective tax rate was 26.4% and 23.9% for the three months ended April 30, 2026 and 2025. The difference between the effective tax rate and the federal statutory tax rate for each period was primarily due to state income taxes and permanent non-deductible expenses, which were partially offset by federal and state research and development tax credits.