Leases

6 Months Ended

Jul. 31, 2026

7. Leases

There were no material lease agreements entered into, or modified, during the six months ended July 31, 2026. The operating lease expense was approximately $0.8 million and $0.9 million for the three months ended July 31, 2026 and 2025, respectively, and was approximately $1.7 million and $1.8 million for the six months ended July 31, 2026 and 2025, respectively. The Company's short-term leases and finance leases were not material as of July 31, 2026 and January 31, 2026, respectively.

Supplemental cash flow information related to the operating leases is as follows:


	Three Months Ended July 31,				Six Months Ended July 31,
	2026		2025		2026		2025
	(in thousands)
Cash paid for operating leases included in operating cash flows	$	882	$	974	$	1,291	$	1,945
Operating lease assets obtained in exchange for lease obligations	$	—	$	66	$	—	$	66

As of July 31, 2026, the weighted average remaining lease term is 6.88 years, and the weighted average discount rate is 8.19 percent. Future minimum lease payments for the lease liabilities are as follows:


	As of
	July 31, 2026
Fiscal Year	(in thousands)
2027 (6 months remaining)	$	1,707
2028		2,680
2029		1,895
2030		1,951
2031		2,002
Thereafter		6,681
Total future annual minimum lease payments		16,916
Less: interest		(4,274	)
Total lease liabilities	$	12,642