v3.26.1
Leases
 6 Months Ended
Aug. 01, 2026
Leases [Abstract]  
Leases Leases
We lease the majority of our office facilities as well as certain equipment, which are accounted for as operating or finance leases. These leases have remaining terms ranging from less than 1 year to approximately 19 years. Some leases include options to extend the lease for up to 5 years and others include options to terminate.

The following table summarizes the components of lease cost recognized in the condensed consolidated statements of operations for the three and six months ended August 1, 2026 and July 26, 2025 (dollars in thousands):
For the Three Months EndedFor the Six Months Ended
August 1, 2026July 26, 2025August 1, 2026July 26, 2025
Finance lease cost
Amortization of lease assets$103 $— $103 $— 
Interest on lease liabilities13 — 13 — 
Lease cost under long-term operating leases17,027 12,537 32,622 25,518 
Lease cost under short-term operating leases7,144 4,000 13,053 7,724 
Variable lease cost under short-term and long-term operating leases(1)
1,961 1,118 3,814 2,308 
Total lease cost$26,248 $17,655 $49,605 $35,550 

(1) Variable lease cost primarily includes insurance, maintenance, and other operating expenses related to our leased office facilities.

Our operating lease liabilities related to long-term operating leases were $228.7 million as of August 1, 2026 and $177.5 million as of January 31, 2026.

Supplemental balance sheet information related to the weighted average remaining lease terms (other than for short-term leases) and discount rates are as follows:

August 1, 2026January 31, 2026
Weighted average remaining lease term:
Operating leases6.7 years6.0 years
Finance leases2.6 years— 
Weighted average discount rate:
Operating leases5.7 %5.8 %
Finance leases5.6 %— %
Supplemental cash flow information related to our lease liabilities for the three and six months ended August 1, 2026 and July 26, 2025 is as follows (dollars in thousands):
For the Three Months EndedFor the Six Months Ended
August 1, 2026July 26, 2025August 1, 2026July 26, 2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used by operating leases$14,322 $7,279 $32,267 $20,208 
Operating cash flows used by finance leases$13 $— $13 $— 
Financing cash flows used by finance leases$97 $— $97 $— 
Lease assets obtained in exchange for lease liabilities:
Operating lease right-of-use assets $35,152 $11,000 $54,914 $21,913 
Finance lease right-of-use assets$— $— $— $— 

As of August 1, 2026, maturities of our lease liabilities under our long-term operating leases and finance leases for the next five fiscal years and thereafter are as follows (dollars in thousands):

Fiscal YearOperating LeasesFinance LeasesTotal Amount
Remainder of 2027$26,688 $630 $27,318 
202852,586 1,183 53,769 
202943,230 703 43,933 
203031,869 347 32,216 
203124,491 34 24,525 
203218,531 — 18,531 
Thereafter89,984 — 89,984 
Total lease payments287,379 2,897 290,276 
Less: imputed interest(58,654)(197)(58,851)
Total$228,725 $2,700 $231,425 
As of August 1, 2026, the Company had additional operating leases with total lease costs of $3.3 million that have not yet commenced. These leases will commence in fiscal 2027.
Leases Leases
We lease the majority of our office facilities as well as certain equipment, which are accounted for as operating or finance leases. These leases have remaining terms ranging from less than 1 year to approximately 19 years. Some leases include options to extend the lease for up to 5 years and others include options to terminate.

The following table summarizes the components of lease cost recognized in the condensed consolidated statements of operations for the three and six months ended August 1, 2026 and July 26, 2025 (dollars in thousands):
For the Three Months EndedFor the Six Months Ended
August 1, 2026July 26, 2025August 1, 2026July 26, 2025
Finance lease cost
Amortization of lease assets$103 $— $103 $— 
Interest on lease liabilities13 — 13 — 
Lease cost under long-term operating leases17,027 12,537 32,622 25,518 
Lease cost under short-term operating leases7,144 4,000 13,053 7,724 
Variable lease cost under short-term and long-term operating leases(1)
1,961 1,118 3,814 2,308 
Total lease cost$26,248 $17,655 $49,605 $35,550 

(1) Variable lease cost primarily includes insurance, maintenance, and other operating expenses related to our leased office facilities.

Our operating lease liabilities related to long-term operating leases were $228.7 million as of August 1, 2026 and $177.5 million as of January 31, 2026.

Supplemental balance sheet information related to the weighted average remaining lease terms (other than for short-term leases) and discount rates are as follows:

August 1, 2026January 31, 2026
Weighted average remaining lease term:
Operating leases6.7 years6.0 years
Finance leases2.6 years— 
Weighted average discount rate:
Operating leases5.7 %5.8 %
Finance leases5.6 %— %
Supplemental cash flow information related to our lease liabilities for the three and six months ended August 1, 2026 and July 26, 2025 is as follows (dollars in thousands):
For the Three Months EndedFor the Six Months Ended
August 1, 2026July 26, 2025August 1, 2026July 26, 2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used by operating leases$14,322 $7,279 $32,267 $20,208 
Operating cash flows used by finance leases$13 $— $13 $— 
Financing cash flows used by finance leases$97 $— $97 $— 
Lease assets obtained in exchange for lease liabilities:
Operating lease right-of-use assets $35,152 $11,000 $54,914 $21,913 
Finance lease right-of-use assets$— $— $— $— 

As of August 1, 2026, maturities of our lease liabilities under our long-term operating leases and finance leases for the next five fiscal years and thereafter are as follows (dollars in thousands):

Fiscal YearOperating LeasesFinance LeasesTotal Amount
Remainder of 2027$26,688 $630 $27,318 
202852,586 1,183 53,769 
202943,230 703 43,933 
203031,869 347 32,216 
203124,491 34 24,525 
203218,531 — 18,531 
Thereafter89,984 — 89,984 
Total lease payments287,379 2,897 290,276 
Less: imputed interest(58,654)(197)(58,851)
Total$228,725 $2,700 $231,425 
As of August 1, 2026, the Company had additional operating leases with total lease costs of $3.3 million that have not yet commenced. These leases will commence in fiscal 2027.