Annual report [Section 13 and 15(d), not S-K Item 405]

Restructuring

v3.26.1
Restructuring
 12 Months Ended
Jan. 31, 2026
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
In February 2023, the Company implemented an approved plan for restructuring its global workforce by approximately 4% to reduce operating costs and better align its workforce with the needs of its business. The majority of the associated costs, including severance and benefits, were incurred in the first half of fiscal year 2024.
In May 2024, the Company implemented an approved plan for restructuring its global workforce by approximately 3% to reduce operating costs and better align its workforce with the needs of its business. The majority of the associated costs, including severance and benefits, were incurred in the second quarter of fiscal year 2025.
In February 2025, the Company implemented an approved plan for restructuring its global workforce by approximately 12% to help position the Company for long-term success by realigning employee costs with the current business and freeing up capital for incremental investments. The majority of the associated costs, including severance, benefits and the acceleration of equity awards, were incurred in the first half of fiscal year 2026.
Restructuring liabilities are included in accrued expenses and other current liabilities in the consolidated balance sheets. Changes in the restructuring liability for the periods presented are set forth in the table below:
January 31,
(in thousands) 2026 2025 2024
Accrual, beginning of period
 $ —  $ —  $ — 
Restructuring charges(1)
15,919  2,821  4,270 
Cash payments (14,277) (2,821) (4,270)
Accrual, end of period
 $ 1,642  $ —  $ — 
(1) Restructuring costs shown in the table above do not include related stock-based compensation expense of $0.9 million for the year ended January 31, 2026. Stock-based compensation expense associated with the Company’s restructuring plans is included in restructuring on the consolidated statements of operations.
Restructuring liabilities are included in accrued expenses and other current liabilities in the consolidated balance sheets, the majority of which is expected to be paid in the first quarter of fiscal year 2027.