Stock-based compensation represents the cost related to stock-based awards granted in lieu of monetary payment. The Company measures stock-based compensation associated with stock-based awards issued to employees at the grant date, based on the estimated fair value of the award, and recognizes expense, net of estimated forfeitures, over the requisite service period of the applicable award generally using the straight-line method or accelerated attribution method.


	Three months ended July 31,				Six months ended July 31,
(in thousands)	2026		2025		2026		2025
Equity classified awards:
Cost of revenue	$	488	$	729	$	966	$	1,400
Sales and marketing	1,841		704		3,482		3,115
Research and development	2,952		3,818		6,312		6,952
General and administrative	4,680		7,711		9,235		14,154
Total stock-based compensation expense	$	9,961	$	12,962	$	19,995	$	25,621

In addition, certain liability classified awards were granted in connection with the Hearsay acquisition and relate to portions of the incentive pool and earnout that generally vest over one year from the Hearsay acquisition date. These awards may be settled in cash or shares at the Company's election, and are measured at each reporting date based on their expected value, with compensation cost being recognized over the related service period. The corresponding liabilities associated with these awards are included within accounts payable, accrued expenses and other current liabilities, and other long term liabilities on the Company's condensed consolidated balance sheet depending on the estimated settlement date of the award. The following table summarizes the Company's compensation expense for liability classified awards for the periods presented:


	Three months ended July 31,				Six months ended July 31,
(in thousands)	2026		2025		2026		2025
Liability classified awards:
Cost of revenue	$	3	$	225	$	9	$	716
Sales and marketing	30		100		91		573
Research and development	21		514		65		1,201
General and administrative	4		54		12		235
Total compensation expense	$	58	$	893	$	177	$	2,725

The following table summarizes the activity related to the Company's stock options:


	Options Outstanding
	Outstanding Stock Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value (in thousands)
Balance, January 31, 2026	1,178,814	$	6.75	0.56	$	665
Granted	—	$	—
Exercised	—	$	—
Forfeited/canceled/expired	(678,575)	$	6.39
Balance, July 31, 2026	500,239	$	7.24	0.31	$	—
Vested and expected to vest	500,239	$	7.24	0.31	$	—
Exercisable, July 31, 2026	500,239	$	7.24	0.31	$	—

The following table summarizes the activity related to the Company's restricted stock and restricted stock units ("RSUs"):


	Outstanding	Weighted-Average Grant Date Fair Value
Balance, January 31, 2026	7,607,861	$	7.51
Granted	3,660,655	$	3.71
Vested and converted to shares	(2,907,326)	$	7.08
Forfeited or canceled	(401,043)	$	7.72
Balance, July 31, 2026	7,960,147	$	5.90

During the six months ended July 31, 2026, the Company granted 7,333,478 PSUs containing market or performance conditions. Awards granted that contain market conditions are subject to the achievement of certain stock price targets which vest over approximately a three to six-year period, or are based on the Company's total shareholder return ("TSR"), relative to the TSR of companies in the S&P Software and Services Select Index which vest over approximately a two-year period. Awards granted that contain performance conditions are based on the achievement of pre-determined ARR and Adjusted EBITDA margin growth metrics which vest over approximately a two-year period. The total number of shares that are eligible to vest for awards subject to TSR and ARR and Adjusted EBITDA margin growth metrics ranges from 0% to 200% of the target PSUs.


	Number of PSUs	Weighted-Average Grant Date Fair Value
Balance, January 31, 2026	3,825,000	$	6.31
Granted	7,333,478	$	2.88
Achievement of awards in excess of target(1)	89,498	$	7.17
Vested	(1,168,435)	$	6.82
Forfeited or canceled	(58,563)	$	6.44
Balance, July 31, 2026	10,020,978	$	3.75