v3.25.1
Subsequent Events
3 Months Ended
Apr. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Share Repurchase Program

On June 3, 2025, the Company announced that its board of directors has approved a share repurchase program for the repurchase of up to $1.0 billion of the Company’s Class A common stock. The repurchase program does not have a fixed expiration date and does not obligate the Company to acquire any specific number of shares. The Company may repurchase shares of Class A common stock from time to time using a variety of methods, including through open market purchases, privately negotiated transactions, and other means, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act.

The timing, manner, price and amount of any repurchases will be determined by the Company in its discretion and will depend on a variety of factors, including legal requirements, price, and economic and market conditions.
Strategic Plan
On May 6, 2025, the Company announced a strategic plan (the “Plan”) to evolve its operations to yield greater efficiencies as the Company continues to scale its business with focus and discipline to meet its goal. The Company estimates that it will incur approximately $36.0 million to $53.0 million in charges in connection with the Plan, of which $6.6 million related to non-employee costs was recognized in the Company’s condensed consolidated statements of operations as general and administrative expenses in the first quarter of fiscal 2026. Substantially all of the remaining estimated costs are expected to be incurred in the second quarter of fiscal 2026. These charges primarily consist of approximately $19.0 million to $26.0 million of future cash expenditures related to severance payments, employee benefits, and related costs; and approximately $10.0 million to $20.0 million in non-cash charges for stock-based compensation.
The actions associated with the Plan are expected to be substantially complete by the end of the second quarter of fiscal 2026, subject to local law and consultation requirements.
The estimates of the charges and expenditures that the Company expects to incur in connection with the Plan, and the timing thereof, are subject to a number of assumptions, including local law and consultation requirements, and actual amounts may differ materially from estimates. In addition, the Company may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur, including in connection with the implementation of the Plan.