Leases
The Company has entered into non-cancelable operating and finance lease agreements, principally real estate for office space globally. The Company may receive renewal or expansion options, leasehold improvement allowances or other incentives on certain lease agreements. Lease terms range from one to 12 years and may include renewal options, which the company deems reasonably certain to be renewed. The exercise of the lease renewal option is at the Company's discretion.
Lease Costs
The components of the Company’s lease costs included in its consolidated statements of operations were as follows (in thousands):
Years Ended January 31,
20262025
Finance lease cost:
Amortization of finance lease right-of-use assets$3,974 $3,974 
Interest on finance lease liabilities1,897 2,267 
Operating lease cost13,007 13,319 
Short-term lease cost4,519 5,262 
Variable lease cost4,679 3,814 
Total lease cost$28,076 $28,636 
Balance Sheet Components
The balances of the Company’s finance and operating leases were recorded on the consolidated balance sheets as follows (in thousands):
Years Ended January 31,
20262025
Finance Lease:
Property and equipment, net$15,566 $19,540 
Other accrued liabilities (current)6,482 6,814 
Other liabilities, non-current23,490 30,697 
Operating Leases:
Operating lease right-of-use assets$28,978 $34,607 
Operating lease liabilities (current)9,259 9,126 
Operating lease liabilities, non-current23,600 27,374 
Supplemental Information
The following table presents supplemental information related to the Company’s finance and operating leases (in thousands, except weighted-average information):
Years Ended January 31,
20262025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance lease$1,897 $2,267 
Operating cash flows from operating leases13,025 14,185 
Financing cash flows from finance lease7,539 6,179 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases4,520 8,974 
Weighted-average remaining lease term (in years):
Finance lease3.94.9
Operating leases4.04.6
Weighted-average discount rate:
Finance lease5.6 %5.6 %
Operating leases5.2 %5.2 %
Maturities of Lease Liabilities
Future minimum lease payments under non-cancelable finance and operating leases on an annual undiscounted cash flow basis as of January 31, 2026 were as follows (in thousands):
Year Ending January 31,
Finance Lease
Operating Leases
2027$7,986 $11,139 
20288,711 8,987 
20298,711 7,011 
20307,985 4,240 
2031— 2,753 
Thereafter
— 2,679 
Total minimum payments
33,393 36,809 
Less imputed interest
(3,421)(3,950)
Present value of future minimum lease payments
29,972 32,859 
Less current obligations under leases
(6,482)(9,259)
Non-current lease obligations
$23,490 $23,600 

Historical Timeline

Fiscal YearFiled
2026Mar 11, 2026Showing above
2025Mar 21, 2025
2024Mar 15, 2024
2023Mar 17, 2023
2022Mar 18, 2022
2021Mar 22, 2021
2020Mar 27, 2020

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.