v3.26.1
Derivative instruments and hedging activities
 6 Months Ended
Jul. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative instruments and hedging activities Derivative instruments and hedging activities
Cash Flow Hedges
During the six months ended July 31, 2026, the Company entered into a foreign currency forward contract to buy Canadian Dollars in exchange for U.S. Dollars in order to hedge the functional currency equivalent cash flows related to the Company’s Canadian Dollar denominated payroll payments. The Company does not hold any derivatives for trading or speculative purposes.
As of July 31, 2026, the notional value of the foreign currency forward contract that the Company held to buy Canadian Dollars in exchange for U.S. Dollars totaled 25,300 Canadian Dollars, including a notional value of 22,770 Canadian Dollars designated as a foreign currency cash flow hedge and a notional value of 2,530 not designated as a foreign currency cash flow hedge.
The fair values of outstanding derivative foreign currency forward contracts was as follows:
Consolidated balance sheet location
July 31, 2026
January 31, 2026
Foreign currency cash flow hedges
Accrued expenses$251 $133 
Non-designated hedges
Accrued expenses27 14 
The effect of derivative instruments on the Company’s consolidated statements of operations were as follows:
Consolidated statements of operations location
Three months ended
July 31,		Six months ended
July 31,
2026202520262025
Foreign currency cash flow hedges
Expenses$124 $(159)$51 $(139)
Foreign currency cash flow hedges
Income tax (expense) benefit— — — — 
Non-designated hedges
Other (expense) income, net(18)(14)(42)236 
Pre-tax gains (losses) associated with cash flow hedges were as follows:
Consolidated statements of operations and Statements of comprehensive income (loss) locations
Three months ended
July 31,		Six months ended
July 31,
2026202520262025
(Loss) gain recognized in accumulated other comprehensive loss into income (included in assessment of effectiveness)Unrealized (loss) gain on cash flow hedge$(161)$(40)$(169)$347 
Gains reclassified from accumulated other comprehensive loss into income (effective portion)Expenses124 (159)51 (139)
Tax effect reclassified from accumulated other comprehensive loss into income (effective portion)Income tax expense— — — — 
As of July 31, 2026, the foreign currency forward contract had a maturity of less than 6 months. As of July 31, 2026, the Company estimates that the entire $251 of the net loss recorded in accumulated other comprehensive loss related to its foreign currency cash flow hedge will be reclassified into income within the next 12 months.
See Note 9 - Fair value measurements for additional disclosures for derivatives and hedging.