v3.26.1
Revenue
 6 Months Ended
Jul. 31, 2026
Revenue from Contract with Customer [Abstract]  
Revenue
(3)
Revenue

Deferred Revenue

During the six months ended July 31, 2026 and 2025, the Company recognized revenue of $120.7 million and $57.8 million, respectively, that had been included in deferred revenue as of January 31, 2026 and 2025, respectively.

Remaining Performance Obligations

Remaining performance obligations represent the amount of contracted future revenue that has not yet been recognized, which includes both deferred revenue and non-cancelable contracted revenue that will be invoiced and recognized in revenue in future periods. The Company’s remaining performance obligations were $753.1 million as of July 31, 2026. The Company expects to recognize approximately 46% of the remaining performance obligations within the next 12 months, approximately 68% of the remaining obligations within the next 24 months, and the remainder thereafter.

Remaining performance obligations do not include unexercised contract options, written orders where funding has not been appropriated and contracts which provide the customer with a right to terminate for convenience without incurring a substantive termination penalty.

Costs to Obtain and Fulfill a Contract

Commissions paid to the Company’s direct sales force are considered incremental costs of obtaining a contract with a customer. Accordingly, commissions are capitalized when incurred and amortized to sales and marketing expense over the period of benefit from the underlying contracts. The period of benefit from the underlying contract is consistent with the timing of transfer to the performance obligations to which the capitalized costs relate, and is generally consistent with the contract term.

During the three and six months ended July 31, 2026, the Company capitalized $0.1 million and $0.6 million of deferred commission expenditures to be amortized in future periods, respectively. The Company’s amortization of deferred commission expenditures was $0.5 million and $1.0 million for the three and six months ended July 31, 2026, respectively.

During the three and six months ended July 31, 2025, the Company capitalized $1.0 million and $1.1 million of deferred commission expenditures to be amortized in future periods, respectively. The Company’s amortization of deferred commission expenditures was $0.5 million and $1.2 million for the three and six months ended July 31, 2025, respectively. As of July 31, 2026 and January 31, 2026, deferred commissions consisted of the following:

 

(in thousands)

 

July 31, 2026

 

 

January 31, 2026

 

Deferred commission, current

 

$

2,198

 

 

$

1,913

 

Deferred commission, non-current

 

 

1,701

 

 

 

2,409

 

Total deferred commission

 

$

3,899

 

 

$

4,322

 

 

The current portion of deferred commissions are included in prepaid expenses and other current assets on the condensed consolidated balance sheets. The non-current portion of deferred commissions are included in other non-current assets on the condensed consolidated balance sheets.

Disaggregation of Revenue

The following table disaggregates revenue by major geographic region:

 

 

 

Three Months Ended July 31,

 

 

Six Months Ended July 31,

 

(in thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

North America ("NAM")

 

$

39,015

 

 

$

31,093

 

 

$

76,051

 

 

$

60,626

 

Asia Pacific & Japan ("APJ")

 

 

19,094

 

 

 

16,150

 

 

 

38,401

 

 

 

31,457

 

Europe, Middle East, & Africa ("EMEA")

 

 

55,200

 

 

 

23,467

 

 

 

90,254

 

 

 

42,316

 

Latin America ("LATAM")

 

 

2,743

 

 

 

2,676

 

 

 

5,496

 

 

 

5,252

 

Total revenue

 

$

116,052

 

 

$

73,386

 

 

$

210,202

 

 

$

139,651

 

 

The following table disaggregates revenue by customer type:

 

 

 

Three Months Ended July 31,

 

 

Six Months Ended July 31,

 

(in thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Civil Government

 

$

17,498

 

 

$

16,426

 

 

$

33,668

 

 

$

32,706

 

Commercial

 

 

17,559

 

 

 

15,051

 

 

 

34,154

 

 

 

28,389

 

Defense & Intelligence

 

 

80,995

 

 

 

41,909

 

 

 

142,380

 

 

 

78,556

 

Total revenue

 

$

116,052

 

 

$

73,386

 

 

$

210,202

 

 

$

139,651

 

 

The following table disaggregates revenue by recognition model:

 

 

 

Three Months Ended July 31,

 

 

Six Months Ended July 31,

 

(in thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Over-time

 

$

101,977

 

 

$

72,556

 

 

$

194,286

 

 

$

137,397

 

Point-in-time

 

 

14,075

 

 

 

830

 

 

 

15,916

 

 

 

2,254

 

Total revenue

 

$

116,052

 

 

$

73,386

 

 

$

210,202

 

 

$

139,651