0001193125-26-135011 | 10-K | XBRL Viewer

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Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2026	Jan. 31, 2025
Deferred tax assets:
Net operating loss carryforwards	$ 353,789	$ 251,616
Deferred revenue	37,988	24,725
Research and development tax credits	51,617	37,765
Section 174 capitalized costs	105,529	112,165
Stock-based compensation expense	44,995	13,825
Other DTA	21,618	21,986
Deferred tax assets	615,536	462,082
Less: valuation allowance	(571,559)	(422,638)
Net deferred tax assets	43,977	39,444
Deferred tax liabilities:
Deferred contract acquisition cost	(34,369)	(27,519)
Other	(5,350)	(10,002)
Total deferred tax liabilities	(39,719)	(37,521)
Net deferred tax assets	$ 4,258	$ 1,923

Income Taxes - Schedule of Loss before Income Taxes, Domestic and Foreign (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Income Tax Disclosure [Abstract]
Domestic	$ (656,983)	$ (370,664)	$ (355,001)
Foreign	(11,070)	20,397	16,933
Loss before provision for income taxes	$ (668,053)	$ (350,267)	$ (338,068)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

Acquisitions Goodwill and Intangible Assets

12 Months Ended

Jan. 31, 2026

Acquisitions, Goodwill, and Intangible Assets

Note 5 - Acquisitions, Goodwill, and Intangible Assets

Fiscal 2025 Acquisition

In October 2024, the Company acquired 100% of the voting equity interests of Dasera, Inc. ("Dasera"), a company which specializes in the Data Security Posture Management ("DSPM"). The acquisition was accounted for as a business combination.

The total purchase consideration for the acquisition of Dasera consisted of $2.5 million in cash, $17.9 million of common shares issued, of which $3.4 million was held back to secure indemnification obligations, and $0.2 million in replacement awards related to pre-combination services provided by employees. The total purchase consideration was allocated as follows: $19.4 million to identifiable intangible assets, $0.5 million to net liabilities assumed, $2.2 million to net deferred tax liabilities assumed, and $3.9 million, the excess of the purchase price over the fair value of net assets acquired, to goodwill. Goodwill arising from the acquisition represents the expected expansion of Netskope's DSPM offerings, establishing a stronger foothold in the market, and growth in additional markets with minimal additional investment in personnel, facilities, or technology.

Certain stock options held by Dasera employees were assumed by the Company with a total fair value of $0.4 million; $0.2 million as purchase consideration related to pre-combination services and the remaining $0.2 million allocated to post-combination services being recognized ratably as stock-based compensation expense over the remaining service period.

Transaction costs of $0.5 million were expensed as incurred as a component of general and administrative expense in the consolidated statement of operations for the fiscal year ended January 31, 2025.

The identifiable intangible assets primarily consisted of developed technology of $18.2 million and customer relationship of $1.2 million, with estimated useful lives of three years and two years, respectively. The developed technology and customer relationship were valued using the replacement cost approach.

The results of operations of Dasera are included in the accompanying consolidated statements of operations from the date of acquisition. Revenue and net loss of Dasera included in the consolidated statement of operations for the fiscal year ended January 31, 2025 were immaterial.

Fiscal 2024 Acquisitions

In September 2023, the Company acquired 100% of the voting equity interest of Kadiska, Inc. ("Kadiska"), a company which specializes in Digital Experience Management ("DEM"), Network Performance Monitoring ("NPM"), and Application Performance Monitoring ("APM") domain. The acquisition was accounted for as a business combination. The total purchase consideration was $16.6 million of cash consideration. The total purchase consideration was allocated as follows: $12.3 million to identifiable intangible assets, $0.9 million to net assets acquired and $2.1 million to net deferred tax liabilities, with the excess $5.5 million of the purchase price over the fair value of net assets acquired recorded as goodwill. Goodwill arising from the acquisition represents the expected expansion of Netskope's security platform offerings, establishing a stronger foothold in the market, and growth in additional markets with minimal additional investment in personnel, facilities, or technology. Of the total purchase consideration, $2.4 million was held back to secure indemnification obligations. All indemnification holdbacks were released as of January 31, 2026.

In addition, Netskope issued 329,293 shares of common stock, to certain stockholders of Kadiska in conjunction with the acquisition, which are subject to continuing service requirements; the fair value of $3.6 million is attributable to post-combination services and recognized ratably as stock-based compensation expense over the remaining service period.

Transaction costs of $0.8 million were expensed as incurred as a component of general and administrative expense in the consolidated statement of operations for the fiscal year ended January 31, 2024.

The identifiable intangible assets, which primarily consisted of developed technology of $9.3 million and customer relationship of $3.0 million with estimated useful lives of three years and two years, respectively. The developed technology and customer relationship were valued using the replacement cost approach, based on the cost incurred to replace the asset in like utility using current material and labor rates.

The results of operations of Kadiska are included in the accompanying consolidated statements of operations from the date of acquisition. Revenue and net loss of Kadiska included in the Company's consolidated statement of operations for the fiscal years ended January 31, 2024 and 2025, were immaterial.

Goodwill

There was no change in the carrying amount of goodwill during the fiscal year ended January 31, 2026. The change in the carrying amount of goodwill during the fiscal year ended January 31, 2025 was as follows (in thousands):


	Amount
Balance as of January 31, 2024	$	57,176
Goodwill acquired		3,907
Balance as of January 31, 2025	$	61,083

Intangible Assets, Net

Intangible assets, net consisted of the following (in thousands):


	January 31, 2026								January 31, 2025
		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Developed technology		$	119,699	$	(107,316	)	$	12,383	$	119,699	$	(93,150	)	$	26,549
Customer relationship			4,241		(3,829	)		412		4,241		(2,348	)		1,893
Workforce			1,068		(1,068	)		-		1,068		(1,068	)		-
Patents			1,000		(192	)		808		1,000		-			1,000
Total finite-lived intangible assets			126,008		(112,405	)		13,603		126,008		(96,566	)		29,442
IP number block			7,800		-			7,800		7,800		-			7,800
Total intangible assets		$	133,808	$	(112,405	)	$	21,403	$	133,808	$	(96,566	)	$	37,242

Amortization expenses related to acquired intangible assets were $15.8 million, $22.7 million, and $21.1 million for the fiscal years ended January 31, 2026, 2025, and 2024, respectively.

As of January 31, 2026 and 2025, the weighted-average remaining amortization period of the intangible assets was 2.0 years. Amortization of developed technology is included in cost of revenue in the consolidated statements of operations; amortization of customer relationship and workforce is included in operating expenses in the consolidated statements of operations.

The expected future amortization expense for acquired intangible assets as of January 31, 2026 is as follows (in thousands):


Fiscal Years Ending January 31,	Amount
2027		8,549
2028		4,292
2029		124
2030		124
2031		124
Thereafter		390
Total	$	13,603

Stockholders' Equity (Deficit) - Schedule of Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 31, 2026	Jan. 31, 2025	Dec. 31, 2014
Temporary Equity [Line Items]
Shares Authorized		218,898,192
Shares Issued		218,897,608
Shares Outstanding		218,897,608
Liquidation Amount		$ 1,051,360
Carrying Value		$ 1,050,561
Series A Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Shares Authorized		14,545,452
Shares Issued		14,545,452
Shares Outstanding	4,000,000	14,545,452
Liquidation Amount		$ 5,500
Carrying Value		$ 5,443
Original Issuance Price per Share		$ 0.38
Series B Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Shares Authorized		21,057,508
Shares Issued		21,057,508
Shares Outstanding	4,800,000	21,057,508
Liquidation Amount		$ 15,900
Carrying Value		$ 15,840
Original Issuance Price per Share		$ 0.76
Series C Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Shares Authorized		24,075,348
Shares Issued		24,074,764	4,814
Shares Outstanding	4,800,000	24,074,764
Liquidation Amount		$ 35,000
Carrying Value		$ 34,911
Original Issuance Price per Share		$ 1.45
Series D Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Shares Authorized		33,416,113
Shares Issued		33,416,113
Shares Outstanding		33,416,113
Liquidation Amount		$ 74,995
Carrying Value		$ 74,878
Original Issuance Price per Share		$ 2.24
Series E Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Shares Authorized		38,358,222
Shares Issued		38,358,222
Liquidation Amount		$ 101,431
Carrying Value		$ 101,322
Original Issuance Price per Share		$ 2.64
Series F Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Shares Authorized		30,981,174
Shares Issued		30,981,174
Shares Outstanding		30,981,174
Liquidation Amount		$ 168,714
Carrying Value		$ 168,591
Original Issuance Price per Share		$ 5.45
Series G Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Shares Authorized		41,793,107
Shares Issued		41,793,107
Shares Outstanding		41,793,107
Liquidation Amount		$ 349,820
Carrying Value		$ 349,576
Original Issuance Price per Share		$ 8.37
Series H Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Shares Authorized		14,671,268
Shares Issued		14,671,268
Shares Outstanding		14,671,268
Liquidation Amount		$ 300,000
Carrying Value		$ 300,000
Original Issuance Price per Share		$ 20.45

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jan. 31, 2026

Accounting Policies [Abstract]

Basis of Presentation

The consolidated financial statements including the accounts of Netskope and its wholly owned subsidiaries have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"). All intercompany balances and transactions have been eliminated in consolidation.

Fiscal Year

The Company's fiscal year ends on January 31. References to fiscal 2026, 2025, and 2024 refer to the fiscal years ended January 31, 2026, January 31, 2025, and January 31, 2024, respectively.

Emerging Growth Company Status

The Company is an emerging growth company ("EGC") as defined in the Jumpstart Our Business Startups Act of 2012 ("JOBS Act"). An EGC may take advantage of specified reduced reporting requirements that are otherwise applicable generally to public companies, including, but not limited to, delayed adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies, not being required to comply with the auditor

attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.

The Company may take advantage of these exemptions until it is no longer an EGC. The Company will cease to be an EGC upon the earliest to occur of: (i) the first fiscal year following the fifth anniversary of its initial public offering; (ii) the first fiscal year after annual gross revenue is $1.235 billion or more; (iii) the date on which the Company has, during the previous three-year period, issued more than $1.0 billion in non-convertible debt securities; or (iv) the date on which the Company qualifies as a "large accelerated filer," as defined in Rule 12b-2 under the Exchange Act, which would occur at the end of any fiscal year in which the market value of the Company’s common stock held by non-affiliates exceeded $700.0 million as of the end of the second quarter of that fiscal year.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and accompanying notes. Such estimates include, but are not limited to, the estimation of fair value of Convertible Notes (as defined below), the determination of fair value of the Company's common stock prior to the completion of the IPO, stock-based awards, standalone selling price ("SSP") for each performance obligation, useful lives of intangible assets and property and equipment, the period of benefit for deferred contract acquisition costs for commissions, incremental borrowing rate used to value operating lease liabilities, income taxes including related reserves, and valuation of intangible assets and goodwill. These estimates are based on information available as of the date of the consolidated financial statements. On a regular basis, management evaluates these estimates and assumptions. Actual results may differ from these estimates and such difference could be material to the consolidated financial statements.

Fair Value of Financial Instruments

The Company's financial instruments consist of cash equivalents, marketable securities, accounts receivable, accounts payable, accrued liabilities, and the Convertible Notes. The carrying amounts reported on the consolidated balance sheets for cash equivalents, marketable securities, accounts receivable, accounts payable, and accrued liabilities approximate their respective fair value due to their short-term nature. The Convertible Notes are accounted for under the fair value option and are reported at fair value at each reporting date. The convertible notes are categorized as Level 3 in the fair value hierarchy. Refer to Note 3, Fair Value Measurements, for further details.

Foreign Currency

The reporting currency of the Company is the U.S. dollar. The functional currency of the Company's foreign subsidiaries is also the U.S. dollar. Foreign currency transaction gains and losses are recognized in other income, net in the consolidated statements of operations. Monetary assets and liabilities of the Company's foreign subsidiaries are remeasured into U.S. dollars at the exchange rates in effect at the reporting date, non-monetary assets and liabilities are remeasured at historical rates, and revenue and expenses are remeasured at average exchange rates in effect during each reporting period.

Concentration of Risk

Concentration of Credit Risk

Financial instruments that are exposed to the concentration of credit risk consist primarily of cash, cash equivalents, restricted cash, marketable securities, and accounts receivable. Although the Company maintains cash, cash equivalents, and restricted cash in multiple financial institutions, the deposits, at times, may exceed federally insured limits.

The Company is exposed to credit risk in the event of a default by the financial institutions holding its cash, cash equivalents, restricted cash, and marketable securities for the amounts reflected on the consolidated balance sheets. The Company's investment policy limits investments to certain types of debt securities issued by the U.S. government, its agencies, and institutions with investment-grade credit ratings and places restrictions on maturities and concentration by type and issuer.

The Company has not experienced any credit losses relating to its cash, cash equivalents, restricted cash, or marketable securities.

The Company's revenue and accounts receivable are derived substantially from the United States, Europe, and Asia and from customers across a multitude of industries. The Company grants credit to customers in the normal course of business. The Company maintains an allowance for credit losses for estimated losses resulting from the inability of its customers to make payments. The Company conducts on-going credit evaluations of customers' payment history and current creditworthiness. The allowance is maintained for all accounts deemed to be uncollectible on a specific identification basis. The allowance for credit losses was immaterial as of January 31, 2026 and 2025.

Concentration of Revenue and Accounts Receivable

As of January 31, 2026, one channel partner represented approximately 14% of the accounts receivable, net balance. As of January 31, 2025, a different channel partner represented approximately 17% of the accounts receivable, net balance.

No single end customer represented 10% or more of total revenue for the fiscal years ended January 31, 2026, 2025, and 2024. Channel partners that represented 10% or more of the total revenue for the fiscal years ended January 31, 2026, 2025, and 2024, were as follows:


	Year Ended January 31,
	2026			2025	2024
Channel Partner A(a)		14	%	12%	11%
Channel Partner B	*			*	10%
* Less than 10%

(a) This same channel partner represented approximately 14% of the accounts receivable, net balance as of January 31, 2026.

Concentration of Vendor Risk

The Company uses third-party vendors for delivering the Company's SaaS platform. While these services are highly available and designed to be resilient to failure of infrastructure, the Company's services could be significantly impacted if the third-party vendors' services experience certain types of interruptions.

Cash, Cash Equivalents, and Restricted Cash

The Company considers all highly liquid investments purchased with an original maturity of three months or less at purchase to be cash equivalents. Cash equivalents primarily consist of amounts invested in money market funds, government agency securities, and commercial paper.

Restricted cash consisted of amounts held as collateral in connection with certain facility lease agreements. The Company had restricted cash of $1.2 million as of January 31, 2026 and 2025, which is included in other assets, noncurrent in the consolidated balance sheets.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash to the total of these amounts shown in the consolidated statements of cash flows (in thousands):


	January 31,
	2026		2025
Cash and cash equivalents	$	432,583	$	166,012
Restricted cash		1,186		1,185
Total cash, cash equivalents, and restricted cash	$	433,769	$	167,197

Marketable Securities

Investments in marketable securities consisted of commercial paper, corporate debt securities, asset-back securities, U.S. Treasury, and government agency securities. The Company determines the appropriate classification of investments at the time of purchase and reevaluates such determination at each balance sheet date. The Company may sell these securities at any time for use in current operations even if they have not yet reached maturity. As a result, the Company classifies its securities, including those with maturities beyond twelve months, as current assets in the consolidated balance sheets. The Company carries these securities at fair value and records unrealized gains and losses in other comprehensive income (loss), which is reflected as a component of stockholders' equity. Realized gains and losses are reported in other income (expense), net in the consolidated statements of operations and are not material for all periods presented. To the extent the amortized cost basis of the available-for-sale securities exceeds the fair value, the Company assesses the debt securities for credit loss. When assessing the risk of credit loss, the Company considers factors such as the severity and the reason of the decline in value, including any changes to the rating of the security by a rating agency or other adverse conditions specifically related to the security, and management's intended holding period and time horizon for selling.

Accounts Receivable and Allowances

Accounts receivable are recorded at the invoiced amount, net of allowance for credit losses for any potential uncollectible amounts. The Company has a well-established collection history from its channel partners and end customers. Credit is extended to customers based on an evaluation of their financial condition and other factors.

The Company periodically evaluates the collectability of its accounts receivable and adequacy of the allowance for credit losses on a collective basis by considering the age of each outstanding invoice, each customer's historical loss rates, current economic conditions, reasonable and supportable forecasts, and customer-specific circumstances. Accounts receivable deemed uncollectible are charged against the allowance for credit losses when identified.

Inventories

Inventories consisted of finished goods, which are valued using the average cost method and are carried at the lower of cost or net realizable value. Excess and obsolete inventories are determined primarily based on future demand forecasts, and write-downs of excess and obsolete inventories are included in cost of revenue within the consolidated statements of operations. The inventory write-offs were immaterial for the fiscal years ended January 31, 2026, 2025, and 2024.

Property and Equipment, net

Property and equipment, net is stated at cost less accumulated depreciation and amortization. Major improvements that extend the life, capacity or efficiency are capitalized, while maintenance and repairs are expensed as incurred.

Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets, as follows:


		Estimated Useful Life
Data center equipment		5 years
Computers and related equipment		3 years
Capitalized internal-use software		5 years
Furniture and fixtures		3 years
Leasehold improvements		Shorter of useful life or term of lease

Capitalized Internal-Use Software Costs

The Company capitalizes certain costs incurred during the application development stage in connection with software development for its security, networking, and analytics platform. Costs related to the preliminary project stage and post-implementation stage are expensed as incurred. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditure will result in additional functionality. Maintenance and training costs are expensed as incurred.

Capitalized internal-use software costs are included in property and equipment, net in the consolidated balance sheets and are amortized on a straight-line basis over the estimated useful life into cost of revenue within the consolidated statements of operations.

The Company capitalized internal-use software costs, inclusive of stock-based compensation, of $3.0 million, $3.5 million, and $7.7 million for the fiscal years ended January 31, 2026, 2025, and 2024, respectively. Amortization expense of capitalized internal-use software for the fiscal years ended January 31, 2026, 2025, and 2024, were $5.5 million, $4.7 million, and $2.2 million, respectively.

Capitalized Implementation Costs

Costs to implement cloud computing hosting arrangements are capitalized and amortized using the straight-line method over the expected term of the arrangement, including periods which are reasonably expected to be renewed. Costs include direct costs for third-party consulting services. Software maintenance and training costs are expensed in the period in which the services are received. Capitalized costs, net of accumulated amortization, are included in other assets, noncurrent. For the fiscal years ended January 31, 2026, 2025, and 2024, the capitalized implementation costs were not material.

Business Combinations

The Company determines whether a transaction meets the definition of a business combination before applying the acquisition method of accounting to that transaction. The Company accounts for its business combinations using the acquisition method of accounting. The Company allocates the purchase price of business combinations to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values on the acquisition date. The excess of the purchase price over the fair values of the identifiable assets acquired and liabilities assumed is recorded as goodwill. The Company makes significant estimates in valuing certain assets and liabilities assumed, especially with respect to intangible assets. The Company believes its estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the estimated fair value of the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Upon conclusion of the measurement period, any subsequent adjustments are recorded in the consolidated statements of operations.

The results of operations of an acquired business are included in the Company's consolidated financial statements from the date of acquisition. Acquisition-related expenses, such as legal and consulting fees, are expensed as incurred and are included in general and administrative expenses in the consolidated statements of operations.

Goodwill and Intangible Assets, Net

Goodwill is not amortized but rather tested for impairment at least annually in the fourth quarter of each fiscal year, or more frequently if events or changes in circumstances indicate that impairment may exist. The Company has the option of performing a qualitative impairment assessment before calculating the fair value of the reporting unit. If it is determined, on the basis of qualitative factors, that the fair value of the reporting unit is likely less than its carrying value, the quantitative impairment test would be required. The Company did not recognize any impairment of goodwill in any of the periods presented in the consolidated financial statements.

Intangible assets mainly consist of developed technology and customer relationships resulting from the Company's acquisitions. Acquired intangible assets are stated at fair value at the acquisition date and are amortized on a straight-line basis over their estimated useful lives. Refer to Note 5, Acquisitions, Goodwill, and Intangible Assets, for additional information related to the Company's acquired intangible assets.

Indefinite-lived intangible assets, which currently consisted of Internal Protocol number block ("IP number block"), are not subject to amortization. Instead, they are subject to an annual assessment for potential impairment, or more frequently upon the occurrence of a triggering event when circumstances indicate that their book value is greater than their fair value. The Company uses a qualitative approach to assess indefinite-lived intangible assets for impairment by first assessing qualitative factors to determine whether it is more likely than not that the fair value of the indefinite-lived intangible asset is less than the carrying value as a basis to determine whether further impairment testing is necessary. The Company conducts its impairment assessment during the fourth quarter of each fiscal year. The Company did not recognize any impairment of indefinite-lived intangible assets in any of the periods presented in the consolidated financial statements.

Impairment of Long-Lived Assets

The Company evaluates long-lived assets or asset groups for impairment whenever events indicate that the carrying value of an asset or asset group may not be recoverable based on expected future cash flows attributable to that asset or asset group. Recoverability of assets held and used is measured by comparison of the carrying amount of an asset or an asset group to estimated undiscounted future net cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset or asset group exceeds estimated undiscounted future cash flows, then an impairment charge would be recognized based on the excess of the carrying amount of the asset or asset group over its fair value. No impairment loss on long-lived assets was recognized in the fiscal years ended January 31, 2026, 2025, and 2024.

Deferred Offering Costs

Deferred offering costs consisted of direct incremental accounting, legal, and other fees related to the Company's IPO. The deferred offering costs were reclassified from prepaid expenses and other current assets into additional paid-in capital as an offset against the proceeds from the consummation of the IPO. The Company had no deferred offering cost as of January 31, 2026, and $0.3 million of deferred offering costs as of January 31, 2025.

Operating Leases

The Company determines if an arrangement is or contains a lease at inception by evaluating various factors, including if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration and other facts and circumstances. Operating lease right-of-use ("ROU") assets and operating lease liabilities are recognized on the lease commencement date based on the present value of lease payments over the expected lease term, which is the non-cancelable period stated in the contract, adjusted for any options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.

Lease payments consist of the fixed payments under the arrangement, less any lease incentives, such as tenant improvement allowances. Variable costs, such as maintenance and utilities based on actual usage, are not included in the measurement of operating lease ROU assets and operating lease liabilities and are expensed when the event determining the amount of variable consideration to be paid occurs. Lease expense is recognized on a straight-line basis over the lease term.

The implicit rate of the Company's operating leases is generally not determinable, and therefore the Company uses the incremental borrowing rate ("IBR") based on the information available at the lease commencement date to determine the present value of lease payments. The Company determines the IBR for each lease using its estimated borrowing rate, adjusted for lease-specific factors to align with the terms of the lease.

The Company accounts for lease components and non-lease components as a single lease component. In addition, the Company does not recognize operating lease ROU assets and operating lease liabilities for leases with lease terms of 12 months or less.

The Company tests ROU assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Such circumstances would include the decision to exit a leased facility prior to the end of the minimum lease term or subleases for which estimated cash flows do not fully cover the costs of the associated lease. There was no impairment charge in the fiscal years ended January 31, 2026 and 2025. For the fiscal year ended January 31, 2024, the Company recognized a $1.3 million impairment charge on its ROU assets, recorded in general and administrative expenses in the consolidated statements of operations, related to the sublease of a portion of its leased office space in Santa Clara, California.

Convertible Notes

The Company accounts for its 3.75% Convertible Senior Paid in Kind ("PIK") Toggle Notes due in December 2028, as amended (the “2028 Notes”) and 3.00% Convertible Senior PIK Toggle Notes due in 2029 (the “2029 Notes”, collectively referred to as the "Convertible Notes"), at fair value under the fair value option in accordance with Accounting Standards Codification ("ASC") 825, Financial Instruments. The Convertible Notes are remeasured at fair value each reporting period, with changes in fair value recognized in the consolidated statements of operations and consolidated statements of comprehensive loss. Changes in fair value attributable to instrument-specific credit risk are recorded in other comprehensive income (loss) within stockholders' equity (deficit). The change in fair value due to credit risk is calculated by comparing the total change in fair value with the change that would have

occurred if the Company's credit risk had not changed during the period, as reflected in the discount rate used to value the Convertible Notes, inclusive of estimated credit spreads. The primary reason for electing the fair value option is for simplification and cost-benefit considerations of accounting for the Convertible Notes at fair value versus bifurcation of the embedded derivatives. Additionally, the Company believes that the fair value option better reflects and presents the underlying economics of the Convertible Notes.

As a result of applying the fair value option, direct costs and fees related to the Convertible Notes were expensed as incurred and were not deferred. The Company has elected not to present interest expense on the Convertible Notes separately from the overall change in the fair value.

The fair value of the Convertible Notes may change significantly, as additional data is obtained, impacting the Company's assumptions regarding probabilities of outcomes used to estimate the fair value. In evaluating this information, considerable judgment is required to interpret the data used to develop the assumptions and estimates. The Company's estimates of fair value may not be indicative of the amounts that could be realized in a current market exchange. Accordingly, the use of either different market assumptions or different valuation techniques, or both, may have a material effect on the estimated fair value amounts, and such changes could materially impact the Company's results of operations in future periods.

In April 2025, the 2028 Notes were amended to extend the maturity, to modify the optional repurchase period, and to adjust redemption conditions. Pursuant to its terms, the amendment became effective upon a Qualified Initial Public Offering (a "Qualified IPO") (as defined in the respective indenture governing each series of Convertible Notes), and on September 23, 2025, the Company notified noteholders that the IPO constituted a Qualified IPO. The Company assesses amendments on the Convertible Notes in accordance with ASC 470-50, “Modifications and Extinguishments.” The Company evaluates whether the amendments should be accounted for as a troubled debt restructuring, an extinguishment of debt, or a modification. The assessment includes both quantitative and qualitative factors, such as changes in cash flows, conversion features, and other economic terms. If an amendment is accounted for as a modification, the Convertible Notes are treated as a continuation of the original debt and continues to be measured at fair value. If an amendment is accounted for as an extinguishment of debt, the original debt is considered derecognized, new debt is recognized, and the difference between the fair value of the new debt and the carrying value of the extinguished debt is recognized as a gain or loss in the consolidated statements of operations. The amendment of the 2028 Notes was accounted for as a modification. The Company's fair value option election would apply to the 2028 Notes, with the resulting changes of fair value of embedded features recorded in the consolidated statements of operations and the consolidated statement of comprehensive loss.

Revenue Recognition

The Company primarily generates revenue from the sale of subscriptions, which typically include support services. Additionally, the Company also generates revenue from professional services and hardware sales. Revenue is recognized when, or as, control of a promised service is transferred to the Company's customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for its services.

The Company recognizes revenue pursuant to the five-step framework within ASC 606 - Revenue from Contracts with Customers. This revenue recognition policy is consistent for sales generated from indirect channels and direct end customers:

(1)

Identify the contract(s) with a customer.

The Company sells through its indirect relationships with its distributors or resellers ("channel partners") or direct relationships with end customers or managed service providers ("MSPs") through the Company's internal sales force. Apart from certain revenue arrangements where MSPs are determined to be its customer, the Company has concluded that the end customer is its customer.

The Company determines it has a contract with a customer when (i) the Company enters into an enforceable contract with a customer that defines each party's rights regarding the goods or services to be transferred and identifies the payment terms related to those goods or services, (ii) the contract has commercial substance and (iii) the Company determines that collection of substantially all consideration for goods or services that are transferred is probable based on the customer's intent and ability to pay the promised consideration. The Company applies judgment in determining the customer's ability and intent to pay, which is based on a variety of factors, including the customer's historical payment experience.

(2)

Identify the performance obligations in the contract.

Performance obligations promised in a contract are identified based on the services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the service either on its own or together with

other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the services is separately identifiable from other promises in the contract. The Company's performance obligations consist of (i) subscriptions and support services and (ii) professional services.

(3)

Determine the transaction price.

The transaction price is the amount of consideration the Company expects to be entitled to from a customer in exchange for providing the goods or services to the customer. Variable consideration is included in the transaction price if, in the Company's judgment, it is probable that no significant future reversal of cumulative revenue under the contract will occur.

None of the Company's contracts contain a significant financing component. The transaction price excludes amounts collected on behalf of third parties, such as sales taxes.

(4)

Allocate the transaction price to performance obligations in the contract.

If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative SSP.

Where the Company has standalone sales data for performance obligations which are indicative of the price at which the Company sells a promised good or service separately to a customer, such data is used to establish SSP. In instances where standalone sales data is not available for a particular performance obligation, the Company estimates standalone selling prices by maximizing the use of observable market and cost-based inputs.

(5)

Recognize revenue when or as performance obligations are satisfied.

Revenue is recognized when control of the related performance obligation is transferred to the customer in an amount that reflects the consideration expected to be received in exchange for those goods or services.

Subscription Revenue

The Company generates revenue primarily from sales of subscriptions, together with related support services to its customers. Customers do not have the right to take possession of the cloud-based software platform. Support services are bundled with a sale of subscription over the term of the arrangement. The nature of the Company's promise to the customer under the subscription arrangement is to stand ready to provide protection for the duration of the contractual term. As a result, the Company recognizes revenue for these performance obligations ratably over the contractual term when or as control of the promised services is transferred to the customer.

The typical subscription and support term is one to three years and is generally non-cancelable over the contractual term except for cause. The Company generally invoices its customers annually or in advance upon signing for the entire term of the contract. The Company's payment terms typically range between 30 to 60 days. Amounts that have been invoiced are recorded in accounts receivable and in deferred revenue or revenue, depending on whether the performance obligation has been satisfied.

Professional Services Revenue

Professional services revenue mainly includes implementation, configuration, and training services and are considered distinct from the subscription services. Revenue for professional services is recognized over a period of time, as the professional services are provided. For the fiscal years ended January 31, 2026, 2025, and 2024, professional services revenue was immaterial.

Hardware Revenue

Hardware revenue is recognized upon shipment when control of the promised goods is transferred to the customer. For the fiscal years ended January 31, 2026, 2025, and 2024, hardware revenue was immaterial.

Arrangements with Multiple Performance Obligations

The Company's sales contracts typically contain multiple performance obligations consisting of i) subscriptions and support services and ii) professional services and other goods and services, that are distinct and accounted for separately. For contracts with multiple performance obligations, the total transaction price is allocated to each performance obligation on a relative SSP basis. Judgment is required to determine the SSP for each distinct performance obligation.

Sales through Indirect Channels

For revenue arrangements through channel partners, the Company considers the end customer to be the customer. The Company defines a customer as an active entity with an active subscription to its platform. The Company generally acts as the principal in these revenue arrangements as the Company has control over services prior to being transferred to the end customer and is primarily responsible for fulfilling the promise to the end customer. The Company recognizes the contractual amount charged to the channel partners as revenue since the Company does not have visibility into the final price between the channel partner and the end customer.

In revenue arrangements with MSPs, the Company considers the MSPs to be the Company's customer, as the Company bears primary responsibility for fulfilling the contractual performance obligation to the MSPs. The Company is the principal in these arrangements as it has control over the services prior to being transferred to the MSPs. The Company recognizes the contractual amount charged to the MSPs as revenue. For the fiscal years ended January 31, 2026, 2025, and 2024, revenues related to MSPs have been immaterial.

Deferred Contract Acquisition Costs

The Company capitalizes contract acquisition costs that are incremental to the acquisition of customer contracts. The Company capitalizes sales commissions, recoverable draws, and associated payroll taxes paid to internal sales personnel that are incremental due to the acquisition of channel partner and end customer contracts. These costs are shown as deferred contract acquisition costs in the consolidated balance sheets. The Company determines whether costs should be deferred based on its sales compensation plans if the commissions are in fact incremental and would not have occurred absent the customer contract.

Sales commissions for the renewal of a contract are not considered commensurate with the commissions paid for the acquisition of the initial contract given the substantive difference in commission rates in proportion to their respective contract values. Therefore, commissions paid upon the initial acquisition of a contract are amortized over an estimated period of benefit of five years while commissions paid for renewal contracts are amortized over the contractual term of the renewals.

Amortization of deferred contract acquisition costs is recognized on a straight-line basis commensurate with the pattern of revenue recognition and included in sales and marketing expense in the consolidated statements of operations. The Company determines the period of benefit for commissions paid for the acquisition of the initial contract by taking into consideration the expected subscription term and expected renewals of its customer contracts, the duration of relationships with customers, customer retention data, the Company's technology development lifecycle, and other factors.

The Company periodically reviews these deferred contract acquisition costs to determine whether events or changes in circumstances have occurred that could impact recoverability or the period of benefit. There were no impairment losses recorded for the fiscal years ended January 31, 2026, 2025, and 2024.

Cost of Revenue

Cost of revenue consists primarily of colocation and network transit expenses, depreciation of data center equipment, cloud infrastructure and software expenses incurred in connection with the hosting and maintenance of the Company's platform, amortization of capitalized internal-use software, and employee and related costs associated with the Company's customer support and

services organization, including salaries, benefits, bonuses, and stock-based compensation. The cost of revenue also consists of costs associated with the manufacturing of our hardware devices and related allocated overhead costs.

Research and Development

Research and development costs are expensed as incurred. Research and development costs consist primarily of employee and related costs including stock-based compensation expense, consulting services, software and subscription services, depreciation of equipment used in research and development, and allocated overhead costs.

Advertising Expenses

Advertising expenses are expensed as incurred as a component of sales and marketing expenses. Advertising expenses were $6.0 million, $4.5 million, and $4.1 million for the fiscal years ended January 31, 2026, 2025, and 2024, respectively.

Stock-Based Compensation Expense

Stock-based compensation expense is recognized based on the fair value of the equity awards and includes expenses related to stock options and RSUs granted to employees and certain non-employee directors and business partners, as well as stock purchase rights granted to the employees under the Company's 2025 Employee Stock Purchase Plan ("ESPP") to employees.

The fair value of stock options and stock purchase rights under the ESPP is determined on the date of grant by utilizing the Black-Scholes option pricing model using the following assumptions:

•

Fair Value of Common Stock. Prior to the Company's IPO, as there was no public market for the Company's common stock, the fair value of the Company's common stock was determined by the Company's board of directors with the assistance of a third-party valuation specialist. The fair value of the common stock was determined by considering a number of objective and subjective factors, including, but not limited to, secondary transactions, actual operating and financial performance, forecasted revenue, market conditions, and performance of comparable publicly traded companies, among other factors. After the completion of the IPO, the fair value of the Company's common stock is determined based on the closing price of the Company's Class A common stock as reported on the Nasdaq Global Select Market on the grant date.

•

Risk-Free Interest Rate. The risk-free interest rate for the expected term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant for zero-coupon U.S. Treasury notes with maturities approximately equal to the option's expected term.

•

Expected Term. The expected term of options represents the period that the awards are expected to be outstanding. The Company's historical stock option exercise experience does not provide a reasonable basis upon which to estimate an expected term due to a lack of sufficient data. For stock options granted to employees, the Company estimates the expected term by using the simplified method. The simplified method calculates the expected term as the average of the time-to-vesting and the contractual life of the options. For stock options granted to non-employees, the expected term equals the contractual term of the options.

•

Expected Volatility. As the Company does not have a trading history for its common stock, the expected volatility is estimated by taking the average historic price volatility of its industry peers, consisting of several public companies in the Company's industry that are either similar in size, stage of life cycle, or financial leverage, over a period equivalent to the expected term of the awards.

•

Expected Dividend Yield. The Company has never declared or paid any cash dividends and does not plan to pay cash dividends in the foreseeable future. As a result, an expected dividend yield of zero percent is used.

The fair value of RSUs with service-based and/or performance-based conditions is determined based on the fair value of the Company’s common stock on the date of grant. The fair value of RSUs with a market-based condition is estimated using the Monte Carlo simulation method, which incorporates the possibility that the market-based condition may not be satisfied, and includes assumptions such as expected term, expected volatility, and risk-free interest rates.

The Company recognizes stock-based compensation expense for equity awards with service-based conditions and for stock purchase rights under the ESPP on a straight-line basis over the requisite service period, which is generally the vesting period. The Company accounts for forfeitures as they occur. Stock-based compensation expense is not recognized for grants that include a performance-based vesting condition unless the performance-based vesting condition is deemed probable. The Company recognizes stock-based compensation expense for equity awards that have a combination of service-based, performance-based, and/or market-based vesting conditions using the accelerated attribution method over the requisite service period.

Prior to the IPO, the Company did not recognize stock-based compensation for RSUs and stock options with a performance vesting condition based upon the occurrence of either an IPO or a change in control. Upon the consummation of the IPO in September 2025, the performance condition was satisfied and the Company recognized a cumulative stock-based compensation expense for those RSUs and certain stock options that had already met or partially met the service vesting condition from the grant date through the IPO date. Stock-based compensation related to any remaining service-based conditions is recognized over the remaining requisite service period following the IPO.

Income Taxes

The Company accounts for income taxes using the asset and liability method. Deferred income taxes are recognized by applying enacted statutory tax rates applicable to future years to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The measurement of deferred tax assets is reduced, if necessary, by a valuation allowance to amounts that are more likely than not to be realized.

The Company recognizes tax benefits from uncertain tax positions only if the Company believes that it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. The Company records interest and penalties related to unrecognized tax benefits in provision for income taxes in the consolidated statements of operations.

The provision for income taxes during interim reporting periods is calculated by applying an estimate of the annual effective tax rate for the full fiscal year to ordinary income for the reporting period plus an additional tax provision or benefit for items accounted for discretely in the quarter. Interest and penalties related to unrecognized tax benefits and other discrete items are recognized in the provision for income taxes as incurred.

Segment and Geographic Information

The Company has a single operating and reportable segment. The Company's chief operating decision maker ("CODM") is its chief executive officer. The CODM reviews financial information presented on a consolidated basis for the purposes of allocating resources and evaluating financial performance. Accordingly, management has determined that the Company operates as one reportable segment. The Company presents financial information about its geographic areas in Note 4, Revenue Recognition, and Note 12, Segment Information.

Net Loss per Share Attributable to Common Stockholders

The Company computes basic and diluted net loss per share attributable to common stockholders using the two-class method required for participating securities. The Company considers its convertible preferred stock, restricted common stock, and shares issued upon the early exercise of stock options subject to repurchase to be participating securities. Under the two-class method, the net

loss is not allocated to the convertible preferred stock, restricted common stock, and early exercised stock options as the holders do not have a contractual obligation to share in the Company's losses.

Basic net loss per share attributable to common stockholders is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase. Diluted net loss per share attributable to common stockholders is computed by giving effect to all potentially dilutive securities. For periods in which the Company reports net losses, all potentially dilutive securities are anti-dilutive and accordingly, basic net loss per share is the same as diluted net loss per share.

Recently Adopted Accounting Pronouncements

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes - Improvements to Income Tax Disclosures, which requires enhancement and further transparency on certain income tax disclosures, most notably the tax rate reconciliation and income taxes paid. The Company adopted this ASU for the year ended January 31, 2026, on a prospective basis. See Note 11, Income Taxes, for further details.

Recently Issued Accounting Pronouncements Not Yet Adopted

In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This ASU clarifies the threshold entities apply to begin capitalizing costs and removes references to software development project stages. The ASU requires that an entity capitalize software costs when management has authorized and committed to funding the software project and when it is probable that the project will be completed and the software will be used to perform the intended functions, including consideration of whether there is significant development uncertainty. This ASU is effective for the Company beginning February 1, 2028. The Company is currently evaluating the impact of the adoption of this ASU on its consolidated financial statements.

In July 2025, the FASB issued ASU 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. This ASU introduces a practical expedient for the application of the current expected credit loss model to current accounts receivable and contract assets. The ASU is effective for the Company beginning February 1, 2026, and requires adoption on a prospective basis, with early adoption permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Topic 220): Disaggregation of Income Statement Expenses, which requires disclosure of additional information about specific expense categories underlying certain income statement expense line items. Additionally, in January 2025, the FASB issued ASU 2025-01 to clarify the effective date of ASU 2024-03. This ASU is effective for the Company beginning February 1, 2027 and requires either prospective or retrospective application. The Company is currently evaluating the impact of this ASU on its disclosures.

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details)		12 Months Ended
	Sep. 19, 2025 USD ($) $ / shares shares	Jan. 31, 2026 USD ($) Customer Partners shares	Jan. 31, 2025 USD ($)	Jan. 31, 2024 USD ($)
Concentration Risk [Line Items]
Number of customers \| Customer		0
Restricted cash		$ 1,186,000	$ 1,185,000
Capitalized internal-use software costs		3,000,000	3,500,000	$ 7,700,000
Stock-based compensation capitalized in internal-use software		253,000	93,000	453,000
Amortization expense of capitalized internal-use software		5,500,000	4,700,000	2,200,000
Impairment loss on long-lived assets		0	0	0
Deferred offering cost		0	300,000
Impairment loss on deferred contract acquisition costs		0	0	0
Advertising expense		6,000,000	4,500,000	4,100,000
Impairment charge on right-of-use assets		$ 0	$ 0	$ 1,300,000
Class B Common Stock
Concentration Risk [Line Items]
Convertion of stock \| shares		218,897,608
2029 Notes
Concentration Risk [Line Items]
Convertible notes interest rate	3.00%	3.00%
Convertion of stock \| shares	40.4858
Principal amount paid	$ 1,000
Conversion price of shares \| $ / shares	$ 24.7
2028 Notes
Concentration Risk [Line Items]
Convertible notes interest rate		3.75%
Accounts Receivable
Concentration Risk [Line Items]
Number of channel partners \| Partners		1
Accounts Receivable \| Customer Concentration Risk \| Channel Partner
Concentration Risk [Line Items]
Concentration of risk percentage		14.00%	17.00%
Revenue Benchmark \| Customer Concentration Risk \| Customer One
Concentration Risk [Line Items]
Concentration of risk percentage		10.00%	10.00%	10.00%
Revenue Benchmark \| Customer Concentration Risk \| Channel Partner One
Concentration Risk [Line Items]
Concentration of risk percentage		10.00%	10.00%	10.00%

Leases - Schedule of Supplemental Cash Flow Information, Weighted-average Remaining Lease Term and Weighted-average Discount Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Supplemental Cash Flow Information
Cash paid for amount included in the measurement of operating lease liabilities	$ 16,001	$ 15,305	$ 13,753
Operating lease ROU assets obtained in exchange for operating lease liabilities	$ 11,242	$ 13,164	$ 11,078

Revenue Recognition (Tables)

12 Months Ended

Jan. 31, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue Geographic Area

The following table summarizes the disaggregation of revenue by geographic area, based on the shipping address of the end customer for contracts through channel partners and direct customers (in thousands):


	Year Ended January 31,
	2026		2025		2024
Americas	$	400,518	$	306,770	$	246,192
Asia Pacific and Japan ("APJ")		131,330		101,175		72,329
Europe, the Middle East, and Africa ("EMEA")		177,149		130,323		88,362
Total revenue	$	708,997	$	538,268	$	406,883

Schedule of Disaggregation of Revenue

The following table summarizes revenue from contracts through indirect channels, including channel partners and MSPs, and direct end customers for the periods presented (in thousands):


	Year Ended January 31,
	2026		2025		2024
Indirect channels	$	675,743	$	502,544	$	374,186
Direct end customers		33,254		35,724		32,697
Total revenue	$	708,997	$	538,268	$	406,883

Summary of Activity for Deferred Revenue

The following table summarizes the activity of deferred revenue (in thousands):


	January 31,
	2026			2025
Beginning balance	$	590,307		$	436,931
Additions		794,548			691,644
Recognition of deferred revenue		(708,997	)		(538,268	)
Ending balance	$	675,858		$	590,307

Deferred revenue, current	$	532,732		$	430,156
Deferred revenue, noncurrent		143,126			160,151
Total deferred revenue	$	675,858		$	590,307

Capitalized Contract Cost

The following table summarizes the activity of deferred contract acquisition costs (in thousands):


	January 31,
	2026			2025
Beginning balance	$	121,665		$	100,747
Capitalization of contract acquisition costs		87,389			66,183
Amortization of deferred contract acquisition costs		(54,208	)		(45,265	)
Ending balance	$	154,846		$	121,665

Deferred contract acquisition costs, current	$	54,048			42,860
Deferred contract acquisition costs, noncurrent		100,798			78,805
Total deferred contract acquisition costs	$	154,846		$	121,665

Cybersecurity Risk Management, Strategy and Governance	12 Months Ended
Cybersecurity Risk Management, Strategy and Governance	Jan. 31, 2026
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Item 1C. Cybersecurity. Cybersecurity Risk Management We maintain a cybersecurity risk management program designed to mitigate risks from cybersecurity threats to our business, products, systems, and data, including risks associated with third-party service providers. Our cybersecurity program provides a foundation for identifying, monitoring, evaluating, and responding to cybersecurity threats and incidents, including those associated with our use of software, applications, services, and cloud infrastructure developed or provided by third-party vendors and service providers. This program includes steps for identifying the source of a cybersecurity threat or incident, including whether such cybersecurity threat or incident is associated with a third-party vendor or service provider: assessing the severity and overall risk of a cybersecurity threat or incident, implementing cybersecurity countermeasures and mitigation or remediation strategies, and informing the relevant members of our senior management team and, when appropriate, the Audit Committee and our Board of Directors. We engage third parties, including vendors and other external service providers, to support our cybersecurity and data privacy processes. For example, we regularly engage independent third parties for penetration testing and evaluation of our various security compliance standards. We also conduct internal assessments of our cybersecurity risk management program. We periodically review and update our cybersecurity policies, standards and procedures, including to account for material changes in the threat and operational landscapes, as well as in response to legal and regulatory developments. Our team has established a continuous improvement process through which we regularly update our risk register against the evolving capabilities of adversaries and incorporate findings from internal and external testing. Further, we require mandatory training for all employees and contractors on our cybersecurity and privacy policies. We also have processes to oversee and identify risks from cybersecurity threats associated with our use of third-party service providers. We maintain a comprehensive, risk-based approach to identifying and overseeing cybersecurity risks presented by third parties, including vendors, service providers and other external users of our systems, as well as the systems of third parties that could adversely impact our business in the event of a cybersecurity incident affecting those third-party systems. In addition, we perform diligence on our vendors and prospective vendors regarding their cybersecurity posture. An incident response team is responsible for the monitoring and disposition of potential occurrences such as data breaches, intrusions, and other security incidents and implementing our detailed incident response plan. Our incident response plan includes processes and procedures for assessing potential internal and external threats, activation and notification, and post-incident recovery designed to safeguard the confidentiality, availability, and integrity of our information assets. In fiscal 2026, and through the filing of this Annual Report on Form 10-K, cybersecurity threats, including as a result of any previous cybersecurity incidents, have not materially affected our business strategy, operating results, and/or financial condition. If we were to experience a material cybersecurity incident in the future, such an incident could potentially have a material effect, including on our business strategy, operating results, or financial condition. For more information regarding cybersecurity risks that we face and potential impacts on our business related thereto, see Part I, Item 1A, “Risk Factors” in this Annual Report on Form 10-K. Cybersecurity Governance Our Board of Directors oversees our overall enterprise risk management. Our cybersecurity risk management program is integrated with our overall enterprise risk management and is prioritized for Board oversight through the Audit Committee. The Audit Committee receives periodic updates from our Chief Information Security Officer ("CISO") regarding cybersecurity risks and the Company’s cybersecurity program, which may include updates on threat environment, security program initiatives, incident response preparedness, and significant risk areas. Management is responsible for day-to-day risk management activities, including identifying and assessing cybersecurity risks, establishing processes to ensure that potential cybersecurity risk exposures are monitored, implementing appropriate mitigation or remediation measures, and maintaining cybersecurity programs. Our cybersecurity program is led by our CISO, who regularly reports to senior management and provides updates to the Audit Committee. The CISO works directly with the internal security team to support oversight of cybersecurity risks across the Company. Our CISO has substantial cybersecurity experience, and has held senior leadership positions at publicly traded companies in the technology industry. The CISO’s leadership team, which consists of seasoned information security professionals with experience at globally recognized organizations, works to ensure that we maintain a robust and comprehensive approach to cybersecurity oversight.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Our Board of Directors oversees our overall enterprise risk management. Our cybersecurity risk management program is integrated with our overall enterprise risk management and is prioritized for Board oversight through the Audit Committee.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Cybersecurity Governance Our Board of Directors oversees our overall enterprise risk management. Our cybersecurity risk management program is integrated with our overall enterprise risk management and is prioritized for Board oversight through the Audit Committee. The Audit Committee receives periodic updates from our Chief Information Security Officer ("CISO") regarding cybersecurity risks and the Company’s cybersecurity program, which may include updates on threat environment, security program initiatives, incident response preparedness, and significant risk areas. Management is responsible for day-to-day risk management activities, including identifying and assessing cybersecurity risks, establishing processes to ensure that potential cybersecurity risk exposures are monitored, implementing appropriate mitigation or remediation measures, and maintaining cybersecurity programs. Our cybersecurity program is led by our CISO, who regularly reports to senior management and provides updates to the Audit Committee. The CISO works directly with the internal security team to support oversight of cybersecurity risks across the Company. Our CISO has substantial cybersecurity experience, and has held senior leadership positions at publicly traded companies in the technology industry. The CISO’s leadership team, which consists of seasoned information security professionals with experience at globally recognized organizations, works to ensure that we maintain a robust and comprehensive approach to cybersecurity oversight.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our cybersecurity risk management program is integrated with our overall enterprise risk management and is prioritized for Board oversight through the Audit Committee.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee receives periodic updates from our Chief Information Security Officer ("CISO") regarding cybersecurity risks and the Company’s cybersecurity program, which may include updates on threat environment, security program initiatives, incident response preparedness, and significant risk areas.
Cybersecurity Risk Role of Management [Text Block]	We maintain a cybersecurity risk management program designed to mitigate risks from cybersecurity threats to our business, products, systems, and data, including risks associated with third-party service providers. Our cybersecurity program provides a foundation for identifying, monitoring, evaluating, and responding to cybersecurity threats and incidents, including those associated with our use of software, applications, services, and cloud infrastructure developed or provided by third-party vendors and service providers. This program includes steps for identifying the source of a cybersecurity threat or incident, including whether such cybersecurity threat or incident is associated with a third-party vendor or service provider: assessing the severity and overall risk of a cybersecurity threat or incident, implementing cybersecurity countermeasures and mitigation or remediation strategies, and informing the relevant members of our senior management team and, when appropriate, the Audit Committee and our Board of Directors.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	An incident response team is responsible for the monitoring and disposition of potential occurrences such as data breaches, intrusions, and other security incidents and implementing our detailed incident response plan. Our incident response plan includes processes and procedures for assessing potential internal and external threats, activation and notification, and post-incident recovery designed to safeguard the confidentiality, availability, and integrity of our information assets.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Management is responsible for day-to-day risk management activities, including identifying and assessing cybersecurity risks, establishing processes to ensure that potential cybersecurity risk exposures are monitored, implementing appropriate mitigation or remediation measures, and maintaining cybersecurity programs. Our cybersecurity program is led by our CISO, who regularly reports to senior management and provides updates to the Audit Committee. The CISO works directly with the internal security team to support oversight of cybersecurity risks across the Company.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Acquisitions Goodwill and Intangible Assets - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Jan. 31, 2026	Jan. 31, 2025
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 126,008	$ 126,008
Accumulated Amortization	(112,405)	(96,566)
Net Carrying Amount	13,603	29,442
IP number block , net carrying amount	7,800	7,800
Total intangible assets, gross carrying amount	133,808	133,808
Total intangible assets, net carrying amount	21,403	37,242
Developed Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	119,699	119,699
Accumulated Amortization	(107,316)	(93,150)
Net Carrying Amount	12,383	26,549
Customer Relationship
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,241	4,241
Accumulated Amortization	(3,829)	(2,348)
Net Carrying Amount	412	1,893
Workforce [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,068	1,068
Accumulated Amortization	(1,068)	(1,068)
Net Carrying Amount	0	0
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,000	1,000
Accumulated Amortization	(192)	0
Net Carrying Amount	$ 808	$ 1,000

Stockholders' Equity (Deficit) - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Aggregate Intrinsic Value, Exercised	$ 77,500	$ 56,500	$ 18,500
Share-Based Payment Arrangement
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, Beginning Balance	58,655,952
Number of Shares, Granted	207,350
Number of Shares, Exercised	(7,230,930)
Number of Shares, Forfeited	(913,496)
Number of shares, Ending Balance	50,718,876	58,655,952
Number of Shares, Vested and expected to vest	50,718,876
Number of Shares, Vested and exercisable	47,227,030
Weighted Average Exercise Price, Beginning Balance	$ 5.72
Weighted Average Exercise Price, Granted	15.32
Weighted Average Exercise Price, Exercised	4.87
Weighted Average Exercise Price, Forfeited	10.54
Weighted Average Exercise Price, Ending Balance	5.8	$ 5.72
Weighted Average Exercise Price, Vested and expected to vest	5.8
Weighted Average Exercise Price, Vested and exercisable	$ 5.61
Weighted- Average Remaining Contractual Life	4 years 8 months 4 days	5 years 8 months 12 days
Weighted- Average Remaining Contractual Life, Vested and expected to vest	4 years 8 months 4 days
Weighted- Average Remaining Contractual Life, Vested and exercisable	4 years 6 months 29 days
Aggregate Intrinsic Value, Beginning Balance	$ 344,465
Aggregate Intrinsic Value, Exercised	77,451
Aggregate Intrinsic Value, Ending Balance	459,400	$ 344,465
Aggregate Intrinsic Value, Vested and expected to vest	459,400
Aggregate Intrinsic Value, Vested and exercisable	$ 436,441

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jan. 31, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Income Taxes - Schedule of Components of Provision for Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Current:
Federal	$ 0	$ 0	$ 0
State	95	87	28
Foreign	13,496	7,527	9,192
Total current	13,591	7,614	9,220
Deferred:
Federal	(20)	(1,965)	6
State	(8)	(214)	3
Foreign	(2,228)	(1,192)	(2,445)
Total deferred	(2,256)	(3,371)	(2,436)
Provision for income taxes	$ 11,335	$ 4,243	$ 6,784

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Convertible Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance at Jan. 31, 2023		$ 1,050,561
Balance (in shares) at Jan. 31, 2023		218,893,378
Balance at Jan. 31, 2023	$ 27,770		$ 9	$ 238,954	$ (11,604)	$ (1,250,150)
Balance (in shares) at Jan. 31, 2023			91,649,072
Conversion of convertible preferred stock to common stock upon initial public offering	0
Issuance of common stock upon exercise of stock options, Shares			2,557,821
Issuance of common stock upon exercise of stock options	9,826			9,826
Issuance of Common Stock Subject to Repurchase rights, Shares			329,293
Vesting of employee early exercised common stock / stock options	2,220			2,220
Stock-based compensation	61,444			61,444
Other comprehensive income (loss)	(13,228)				(13,228)
Net loss	(344,852)					(344,852)
Balance at Jan. 31, 2024		$ 1,050,561
Balance (in shares) at Jan. 31, 2024		218,893,378
Balance at Jan. 31, 2024	(256,820)		$ 9	312,444	(24,832)	(1,595,002)
Balance (in shares) at Jan. 31, 2024			94,536,186
Conversion of convertible preferred stock to common stock upon initial public offering	0
Issuance of common stock upon exercise of stock options, Shares			8,107,164
Issuance of common stock upon exercise of stock options	35,647		$ 1	35,646
Issuance of preferred stock upon exercise of warrants, Shares		4,230
Vesting of employee early exercised common stock / stock options	1,660			1,660
Issuance of common stock and assumed equity awards related to acquisition	18,114			18,114
Issuance of common stock and assumed equity awards related to acquisition, Shares			1,947,810
Repurchase of employee early exercised common stock, Shares			(1,376)
Stock-based compensation	50,927			50,927
Other comprehensive income (loss)	19,393				19,393
Net loss	$ (354,510)					(354,510)
Balance at Jan. 31, 2025		$ 1,050,561
Balance (in shares) at Jan. 31, 2025	218,897,608	218,897,608
Balance at Jan. 31, 2025	$ (485,589)		$ 10	418,791	(5,439)	(1,949,512)
Balance (in shares) at Jan. 31, 2025			104,589,784
Conversion of convertible preferred stock to common stock upon initial public offering, shares		(218,897,608)	218,897,608
Conversion of convertible preferred stock to common stock upon initial public offering	1,050,561	$ (105,056)	$ 22	1,050,539
Issuance of common stock upon initial public offering, net of underwriting discounts, commissions, and offering costs, shares			54,970,000
Issuance of common stock upon initial public offering, net of underwriting discounts, commissions, and offering costs	985,745		$ 5	985,740
Issuance of common stock upon exercise of stock options, Shares			25,911,207
Issuance of common stock upon exercise of stock options	35,286		$ 3	35,283
Net shares withheld to cover taxes upon vesting of restricted stock units, shares			(5,960,339)
Net shares withheld to cover taxes upon vesting of restricted stock units	(118,488)			(118,488)
Vesting of employee early exercised common stock / stock options	458			458
Shares repurchased and held in treasury	(565)			(565)
Shares repurchased and held in treasury, Shares			(25,607)
Stock-based compensation	516,444			516,444
Other comprehensive income (loss)	(59,372)				(59,372)
Net loss	(679,388)					(679,388)
Balance at Jan. 31, 2026		$ 0
Balance (in shares) at Jan. 31, 2026		0
Balance at Jan. 31, 2026	$ 194,531		$ 40	$ 2,888,202	$ (64,811)	$ (2,628,900)
Balance (in shares) at Jan. 31, 2026			398,382,653

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Property and Equipment Estimated Useful Lives (Details)	Jan. 31, 2026
Data Center Equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Computers and Related Equipment
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Capitalized Internal-Use Software
Property, Plant and Equipment [Line Items]
Estimated Useful Life	5 years
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Estimated Useful Life	3 years
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration]	us-gaap:UsefulLifeShorterOfTermOfLeaseOrAssetUtilityMember

Income Taxes (Tables)

12 Months Ended

Jan. 31, 2026

Income Tax Disclosure [Abstract]

Schedule of Loss before Income Taxes, Domestic and Foreign

The Company's geographical breakdown of loss before provision for income taxes for the fiscal years ended January 31, 2026, 2025, and 2024, were as follows (in thousands):


	Year Ended January 31,
	2026			2025			2024
Domestic	$	(656,983	)	$	(370,664	)	$	(355,001	)
Foreign		(11,070	)		20,397			16,933
Total	$	(668,053	)	$	(350,267	)	$	(338,068	)

Schedule of Components of Provision for Income Tax

The components of the provision for income taxes for the fiscal years ended January 31, 2026, 2025, and 2024, are as follows (in thousands):


	Year Ended January 31,
	2026			2025			2024
Current:
Federal	$	-		$	-		$	-
State		95			87			28
Foreign		13,496			7,527			9,192
Total current		13,591			7,614			9,220
Deferred:
Federal		(20	)		(1,965	)		6
State		(8	)		(214	)		3
Foreign		(2,228	)		(1,192	)		(2,445	)
Total deferred		(2,256	)		(3,371	)		(2,436	)
Provision for income taxes	$	11,335		$	4,243		$	6,784

Schedule of Reconciliation between Income Taxes at the Federal Statutory Rate and Provision for Income Taxes

The following table presents required disclosure pursuant to ASU 2023-09 and provides a reconciliation between income taxes computed at the federal statutory rate and the provision for income taxes for the fiscal year ended January 31, 2026 (in thousands, except percentages)


	Year Ended January 31, 2026
	Amount			Percentage
Federal statutory rate	$	(140,291	)		21.0	%
State and local income taxes, net of federal income tax effect(a)		86			(0.0	)%
Foreign tax effects		10,863			(1.6	)%
Effect of cross-border tax laws:
Global intangible low-taxes income (GILTI)		909			(0.1	)%
Tax credits		(13,520	)		2.0	%
Changes in valuation allowances		133,061			(19.9	)%
Nontaxable or non-deductible items:
Stock-based compensation expense(b)		5,440			(0.8	)%
Convertible notes		7,194			(1.1	)%
Other		780			(0.1	)%
Change in unrecognized tax benefits		6,813			(1.0	)%
Provision for income taxes	$	11,335			(1.7	)%

(a) State and local taxes in California, Illinois, and New York made up the majority (great than 50%) of the tax effect in this category.

(b) Includes amounts related to non-deductible stock-based compensation, including non-deductible executive compensation, in addition to excess tax benefits or shortfalls from stock-based compensation. The Company's provision for income tax for the fiscal year ended January 31, 2026 includes $24.8 million of excess tax benefits and $30.9 million of limitation on stock-based compensation deduction for executive compensation limited by Internal Revenue Section 162(m).

The following table provides a reconciliation between income taxes computed at the federal statutory rate and the provision for income taxes for fiscal years ended January 31, 2025 and 2024, prior to the adoption of ASU 2023-09:


	Year Ended January 31,
	2025						2024
	Amount			Percentage			Amount			Percentage
Federal statutory rate	$	(73,556	)		21.0	%	$	(70,994	)		21.0	%
Effect of:
Foreign tax rate differential		1,696			(0.5	)%		2,026			(0.6	)%
Research and development tax credits		(17,401	)		5.0	%		(6,636	)		2.0	%
State taxes, net of federal benefit		(8,710	)		2.5	%		(9,180	)		2.7	%
Change in valuation allowance		64,323			(18.4	)%		71,249			(21.1	)%
Convertible note costs		23,222			(6.6	)%		9,113			(2.7	)%
Stock-based compensation expense		7,740			(2.2	)%		9,704			(2.9	)%
Other		6,929			(2.0	)%		1,502			(0.4	)%
	$	4,243			(1.2	)%	$	6,784			(2.0	)%

Schedule of Deferred Tax Assets and Liabilities

The significant components of the Company's deferred tax assets and liabilities as of January 31, 2026 and 2025, were as follows (in thousands):


	January 31,
	2026			2025
Deferred tax assets:
Net operating loss carryforwards	$	353,789		$	251,616
Deferred revenue		37,988			24,725
Research and development tax credits		51,617			37,765
Section 174 capitalized costs		105,529			112,165
Stock-based compensation expense		44,995			13,825
Other DTA		21,618			21,986
Deferred tax assets		615,536			462,082
Less: valuation allowance		(571,559	)		(422,638	)
Net deferred tax assets		43,977			39,444

Deferred tax liabilities:
Deferred contract acquisition cost		(34,369	)		(27,519	)
Other		(5,350	)		(10,002	)
Total deferred tax liabilities		(39,719	)		(37,521	)
Net deferred tax assets	$	4,258		$	1,923

Schedule of Unrecognized Tax Benefits

The following is a rollforward of the total gross unrecognized tax benefits for the fiscal years ended January 31, 2026, 2025, and 2024, (in thousands):


	Amount
Balance as of January 31, 2023	$	25,584
Gross increase for tax positions of prior years		4,874
Gross decrease for tax positions of prior years		(545	)
Gross increases for tax positions of current year		8,508
Decrease for lapse of statute of limitations		(50	)
Balance as of January 31, 2024		38,371
Gross increase for tax positions of prior years		2,088
Gross decrease for tax positions of prior years		(13,591	)
Gross increases for tax positions of current year		4,885
Decrease for lapse of statute of limitations		(396	)
Balance as of January 31, 2025		31,357
Gross increase for tax positions of prior years		862
Gross decrease for tax positions of prior years		(300	)
Gross increase for tax positions of current year		8,332
Decrease for lapse of statute of limitations		(323	)
Balance as of January 31, 2026	$	39,928

Schedule of Components of Income Taxes Paid Net of Refunds

The following table presents income taxes paid, net of refunds received, for the fiscal year ended January 31, 2026 (in thousands):


	Year Ended January 31, 2026
Federal taxes	$	-
States taxes		76
Foreign taxes:
Brazil		840
India		5,799
Spain		922
United Kingdom		600
Other		2,330
Income taxes paid	$	10,567

Below is a summary of income taxes paid, net of refunds received, for the fiscal years ended January 31, 2025 and 2024 (in thousands).


	Year Ended January 31,
	2025		2024
Cash paid for income taxes	$	6,626	$	7,898

Leases - Components of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Lease, Cost [Abstract]
Operating lease costs	$ 22,763	$ 19,810	$ 17,685
Short-term lease costs	386	652	863
Variable lease costs	3,564	3,258	2,026
Total lease costs	$ 26,713	$ 23,720	$ 20,574

Convertible Notes - Additional Information (Details) - USD ($)				12 Months Ended
	Dec. 15, 2028	Dec. 15, 2027	Sep. 19, 2025	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024	Sep. 30, 2024	Dec. 31, 2022
Debt Instrument [Line Items]
Convertible notes issued					$ 75,000,000
Class B Common Stock
Debt Instrument [Line Items]
Convertion of stock				218,897,608
Maximum [Member] \| Forecast [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility amount	$ 150,000,000
2028 Notes
Debt Instrument [Line Items]
Convertible notes issued				$ 401,000,000	0
Convertible notes interest rate				3.75%
Convertible notes maturity date				Dec. 15, 2028
Maturity date, description				Extension of the maturity date of the 2028 Notes from December 15, 2027 to December 15, 2028
PIK interest expense				$ 16,500,000	15,900,000	$ 15,300,000
2028 Notes \| Forecast [Member]
Debt Instrument [Line Items]
Convertible notes issued	100,000,000
Principal amount paid	$ 1,000
Conversion price of shares	$ 23.75
Percentage of stock price	200.00%	230.00%
Percentage of redemption of stock price	200.00%	230.00%
Return on convertible notes	14.00%
Percentage of outstanding aggragate principal amount	25.00%
Minimum liquidity	$ 40,000,000
2028 Notes \| Class B Common Stock \| Forecast [Member]
Debt Instrument [Line Items]
Convertion of stock	42.1046
2028 Notes \| Maximum [Member]
Debt Instrument [Line Items]
Repurchase option period				120 days
2028 Notes \| Maximum [Member] \| Forecast [Member]
Debt Instrument [Line Items]
Repurchase option period	120 days
Premium interest rate of principal	170.00%
2028 Notes \| Minimum [Member]
Debt Instrument [Line Items]
Repurchase option period				91 days
2028 Notes \| Minimum [Member] \| Forecast [Member]
Debt Instrument [Line Items]
Repurchase option period	91 days
Premium interest rate of principal	140.00%
Originally issued aggregate principal amount	10.00%
2028 Notes \| Senior Notes [Member]
Debt Instrument [Line Items]
Convertible notes issued								$ 401,000,000
2029 Notes
Debt Instrument [Line Items]
Convertible notes issued			$ 50,000,000	$ 75,000,000	75,000,000
Convertible notes interest rate			3.00%	3.00%
Repurchase option period			91 days
Convertion of stock			40.4858
Principal amount paid			$ 1,000
Conversion price of shares			$ 24.7
Percentage of redemption of stock price			200.00%
Return on convertible notes			13.50%
PIK interest expense				$ 2,300,000	$ 800,000	$ 0
2029 Notes \| Senior Notes [Member]
Debt Instrument [Line Items]
Convertible notes issued							$ 75,000,000

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Disaggregation of Revenue [Line Items]
Revenue	$ 708,997	$ 538,268	$ 406,883
Indirect Channels
Disaggregation of Revenue [Line Items]
Revenue	675,743	502,544	374,186
Direct end customers
Disaggregation of Revenue [Line Items]
Revenue	$ 33,254	$ 35,724	$ 32,697

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
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+ Details

Commitments and Contingencies - Additional Information (Details) - Letter of Credit [Member] - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025
Line of Credit Facility [Line Items]
Outstanding letters of credit in the aggregate amount	$ 1.2	$ 1.2
Description of letters of credit maturity	The letters of credit are collateralized by restricted cash and mature on various dates through fiscal year 2031.

Revenue Recognition - Capitalized Contract Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Revenue from Contract with Customer [Abstract]
Beginning balance	$ 121,665	$ 100,747
Capitalization of contract acquisition costs	87,389	66,183
Amortization of deferred contract acquisition costs	(54,208)	(45,265)	$ (34,230)
Ending balance	154,846	121,665	100,747
Deferred contract acquisition costs, current	54,048	42,860
Deferred contract acquisition costs, noncurrent	100,798	78,805
Total deferred contract acquisition costs	$ 154,846	$ 121,665	$ 100,747

Basis of Presentation and Summary of Significant Accounting Policies - Summary of Total Revenue (Details) - Customer Concentration Risk

12 Months Ended

Jan. 31, 2026

Jan. 31, 2025

Jan. 31, 2024

Accounts Receivable | Channel Partner A

Product Information [Line Items]

Concentration of risk percentage

14.00%

Revenue Benchmark | Channel Partner A

Product Information [Line Items]

Concentration of risk percentage

^[1]

14.00%

12.00%

11.00%

Revenue Benchmark | Channel Partner B

Product Information [Line Items]

Concentration of risk percentage

10.00%

[1]	(a) This same channel partner represented approximately 14% of the accounts receivable, net balance as of January 31, 2026.

- Definition

For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.

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Basis of Presentation and Summary of Significant Accounting Policies - Summary of Total Revenue (Parenthetical) (Details)	12 Months Ended
	Jan. 31, 2026
Customer Concentration Risk \| Accounts Receivable \| Channel Partner A
Product Information [Line Items]
Concentration of risk percentage	14.00%

- Definition

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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Jan. 31, 2026	Mar. 24, 2026	Jul. 31, 2025
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jan. 31, 2026
Document Annual Report	true
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	FY
Document Transition Report	false
Entity Registrant Name	Netskope, Inc.
Entity Central Index Key	0002063196
Current Fiscal Year End Date	--01-31
Securities Act File Number	001-42848
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-1141117
Entity Address, Address Line One	2445 Augustine Drive
Entity Address, Address Line Two	Suite 301
Entity Address, City or Town	Santa Clara
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95054
City Area Code	800
Local Phone Number	979-6988
Trading Symbol	NTSK
Title of 12(b) Security	Class A Common Stock, $0.0001 par value
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 0
Auditor Name	KPMG LLP
Auditor Location	Santa Clara, California
Auditor Firm ID	185
Auditor Opinion [Text Block]	Opinion on the Consolidated Financial Statements We have audited the accompanying consolidated balance sheets of Netskope, Inc. and subsidiaries (the Company) as of January 31, 2026 and 2025, the related consolidated statements of operations, comprehensive loss, stockholders’equity (deficit), and cash flows for each of the years in the three-year period ended January 31, 2026, and the related notes (collectively, the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of January 31, 2026 and 2025, and the results of its operations and its cash flows for each of the years in the three-year period ended January 31, 2026, in conformity with U.S. generally accepted accounting principles.
Documents Incorporated By Reference	The registrant intends to file with the Securities and Exchange Commission, not later than 120 days after the close of its fiscal year ended January 31, 2026, a definitive proxy statement for the registrant’s annual meeting of stockholders to be held in 2026 containing the information required to be disclosed under Part III of Form 10-K.
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		231,167,738
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		169,146,570
Class C Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		0

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Statement of Comprehensive Income [Abstract]
Net loss	$ (679,388)	$ (354,510)	$ (344,852)
Other comprehensive (loss) income:
Unrealized gain (loss) on marketable securities, net of tax	710	(112)	417
Unrealized (loss) gain on convertible notes, net of tax	(60,082)	19,505	(13,645)
Total other comprehensive (loss) income, net of tax	(59,372)	19,393	(13,228)
Total comprehensive loss	$ (738,760)	$ (335,117)	$ (358,080)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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+ Details

Stockholders' Equity (Deficit) (Tables)

12 Months Ended

Jan. 31, 2026

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Convertible Preferred Stock

The convertible preferred stock as of January 31, 2025 consisted of the following (in thousands, except share and per share data):


Series	Shares Authorized		Shares Issued and Outstanding		Liquidation Amount		Carrying Value		Original Issuance Price per Share
Series A		14,545,452		14,545,452	$	5,500	$	5,443	$	0.38
Series B		21,057,508		21,057,508		15,900		15,840		0.76
Series C		24,075,348		24,074,764		35,000		34,911		1.45
Series D		33,416,113		33,416,113		74,995		74,878		2.24
Series E		38,358,222		38,358,222		101,431		101,322		2.64
Series F		30,981,174		30,981,174		168,714		168,591		5.45
Series G		41,793,107		41,793,107		349,820		349,576		8.37
Series H		14,671,268		14,671,268		300,000		300,000		20.45
Total		218,898,192		218,897,608	$	1,051,360	$	1,050,561

Schedule of Components of Stock-Based Compensation Expense

The following table summarizes the components of stock-based compensation during the periods presented (in thousands):


	Year Ended January 31,
	2026		2025		2024
Cost of revenue	$	33,217	$	2,477	$	2,925
Sales and marketing		94,510		18,341		25,125
Research and development		232,467		24,698		27,150
General and administrative		155,997		5,318		5,791
Total stock-based compensation expense		516,191		50,834		60,991
Stock-based compensation capitalized in internal-use software		253		93		453
Total stock-based compensation	$	516,444	$	50,927	$	61,444

Schedule of RSU activity including performance and market based RSU and restricted shares

A summary of the Company's RSU activity, including performance and market-based RSUs and restricted shares, is as follows:


	Number of Shares			Weighted- Average Grant Date Fair Value
Outstanding as of January 31, 2025		41,535,046		$	10.28
Granted		38,081,010		$	14.97
Released		(19,028,367	)	$	11.82
Forfeited		(11,689,991	)	$	10.43
Outstanding as of January 31, 2026		48,897,698		$	13.87

Summary of Stock Option Activity

A summary of stock option activity is as follows:


	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (In thousands)
Outstanding as of January 31, 2025		58,655,952		$	5.72	5.7	$	344,465
Granted		207,350		$	15.32
Exercised		(7,230,930	)	$	4.87		$	77,451
Forfeited		(913,496	)	$	10.54
Outstanding as of January 31, 2026		50,718,876		$	5.80	4.68	$	459,400
Vested and expected to vest as of January 31, 2026		50,718,876		$	5.80	4.68	$	459,400
Vested and exercisable as of January 31, 2026		47,227,030		$	5.61	4.58	$	436,441

Black-Scholes option-pricing model

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Black-Scholes Assumptions

The Black-Scholes assumptions used to value the stock options at the grant dates were as follows:


	Year Ended January 31,
	2026	2025	2024
Expected term (years)	5.6 - 6.1	5.3 - 6.0	5.2 - 5.9
Expected volatility	51.2% - 53.1%	49.1% - 51.8%	47.8% - 48.6%
Risk-free interest rate	3.9% - 4.1%	3.6% - 4.3%	3.9% - 4.2%
Expected dividend yield	0%	0%	0%

ESPP

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Black-Scholes Assumptions

The Company estimated the fair value of ESPP purchase rights using a Black-Scholes option-pricing model with the following assumptions:


		Year Ended January 31, 2026
Expected term (years)		0.41 - 0.91
Expected volatility		45.42% - 47.87%
Risk-free interest rate		3.68% - 3.92%
Expected dividend yield		0%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Segment Information - Additional Information (Details)	12 Months Ended
Segment Information - Additional Information (Details)	Jan. 31, 2026 Segment
Segment Reporting [Abstract]
Number of operating segments	1
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]	srt:ChiefExecutiveOfficerMember
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description	The Company's CODM is its Chief Executive Officer, and the CODM reviews financial information presented on a consolidated basis for purposes of allocating resources, evaluating financial performance and monitoring budget versus actual results based on net income (loss) that is also reported on the consolidated statements of operations. The significant expenses within net loss on which the CODM relies include those that are reported on the consolidated statements of operations.

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Jan. 31, 2026
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Revenue Recognition (Additional Information 1) (Details)	Jan. 31, 2026
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-02-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations, percent	54.00%
Remaining performance obligations, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-02-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations, percent	43.00%
Remaining performance obligations, period	24 months

Segment Information

12 Months Ended

Jan. 31, 2026

Segment Reporting [Abstract]

Segment Information

Note 12 - Segment Information

The Company identifies its operating segments in accordance with ASC 280, Segment Reporting. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the CODM to allocate resources and assess performance.

The Company's CODM is its Chief Executive Officer, and the CODM reviews financial information presented on a consolidated basis for purposes of allocating resources, evaluating financial performance and monitoring budget versus actual results based on net income (loss) that is also reported on the consolidated statements of operations. The significant expenses within net loss on which the CODM relies include those that are reported on the consolidated statements of operations. The measure of the Company's single operating segment assets is reported on the consolidated balance sheets as total assets.

Revenue disaggregation by geography is presented in Note 4, Revenue Recognition. No single country other than the United States represented 10% or more of the Company's total revenue during the fiscal years ended January 31, 2026, 2025, and 2024.

Long-lived assets, which are comprised of property and equipment, net and operating lease right-of-use assets, by geographic area are summarized as follows (in thousands):


	January 31,
	2026		2025
United States	$	69,273	$	88,820
Rest of the world		56,699		45,231
Total long-lived assets	$	125,972	$	134,051

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Acquisitions Goodwill and Intangible Assets- Schedule of Expected Future Amortization Expense for Acquired Intangible Assets (Details) - USD ($) $ in Thousands	Jan. 31, 2026	Jan. 31, 2025
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2027	$ 8,549
2028	4,292
2029	124
2030	124
2031	124
Thereafter	390
Net Carrying Amount	$ 13,603	$ 29,442

Acquisitions Goodwill and Intangible Assets (Tables)

12 Months Ended

Jan. 31, 2026

Schedule of Goodwill

The change in the carrying amount of goodwill during the fiscal year ended January 31, 2025 was as follows (in thousands):


	Amount
Balance as of January 31, 2024	$	57,176
Goodwill acquired		3,907
Balance as of January 31, 2025	$	61,083

Schedule of Intangible Assets, Net

Intangible assets, net consisted of the following (in thousands):


	January 31, 2026								January 31, 2025
		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Developed technology		$	119,699	$	(107,316	)	$	12,383	$	119,699	$	(93,150	)	$	26,549
Customer relationship			4,241		(3,829	)		412		4,241		(2,348	)		1,893
Workforce			1,068		(1,068	)		-		1,068		(1,068	)		-
Patents			1,000		(192	)		808		1,000		-			1,000
Total finite-lived intangible assets			126,008		(112,405	)		13,603		126,008		(96,566	)		29,442
IP number block			7,800		-			7,800		7,800		-			7,800
Total intangible assets		$	133,808	$	(112,405	)	$	21,403	$	133,808	$	(96,566	)	$	37,242

Schedule of Expected Future Amortization Expense for Acquired Intangible Assets

The expected future amortization expense for acquired intangible assets as of January 31, 2026 is as follows (in thousands):


Fiscal Years Ending January 31,	Amount
2027		8,549
2028		4,292
2029		124
2030		124
2031		124
Thereafter		390
Total	$	13,603

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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+ Details

Net Loss Per Share Attributable to Common Stockholders - Schedule of Potentially Dilutive Securities Excluded From The Computation of Net Loss Per Share (Details) - shares	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	121,752,579	340,245,564	335,578,828
Stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	50,718,876	58,655,952	71,176,423
Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	0	218,897,608	218,893,378
Convertible notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	22,136,005	20,879,521	17,598,191
Restricted stock units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	48,622,268	40,904,473	26,408,539
Shares subject to repurchase [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	275,430	708,510	1,297,983
Conversion of stock warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	0	199,500	204,314

Revenue Recognition - Schedule of Disaggregation of Revenue by Geographic Area (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Disaggregation of Revenue [Line Items]
Revenue	$ 708,997	$ 538,268	$ 406,883
Americas
Disaggregation of Revenue [Line Items]
Revenue	400,518	306,770	246,192
Asia Pacific and Japan ("APJ")
Disaggregation of Revenue [Line Items]
Revenue	131,330	101,175	72,329
Europe, the Middle East, and Africa ("EMEA")
Disaggregation of Revenue [Line Items]
Revenue	$ 177,149	$ 130,323	$ 88,362

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Fair Value Measurements

12 Months Ended

Jan. 31, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 3 - Fair Value Measurements

Certain financial assets and liabilities are measured at fair value at each reporting period using a fair value hierarchy which requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument's classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Three levels of inputs may be used to measure fair value:

•

Level 1 - Assets and liabilities whose values are based on observable inputs such as quoted (unadjusted) prices in active markets for identical assets or liabilities.

•

Level 2 - Assets and liabilities whose values are based on inputs from quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the asset or liability.

•

Level 3 - Assets and liabilities whose values are based on unobservable inputs that are supported by little or no market activity and that are significant to the overall fair value measurement.

The Company classifies its cash equivalents and marketable securities within Level 1 or Level 2 because they are valued using either quoted market prices or inputs other than quoted prices which are directly or indirectly observable in the market, including readily available pricing sources for the identical underlying security which may not be actively traded.

The Company classifies its convertible preferred stock warrants and Convertible Notes within Level 3 and they are measured at fair value using valuation techniques and require significant management judgment or estimation. For the fiscal year ended January 31, 2024 and 2025, the convertible preferred stock warrant fair value and subsequent fair value adjustments were not material to the Company's consolidated financial statements. In connection with the Company's IPO, the convertible preferred stock warrants expired as the performance condition was not met. For further detail, refer to Note 10, Stockholders' Equity (Deficit).

The Company did not have transfers between levels of the fair value hierarchy of assets measured at fair value during the periods presented.

Cash Equivalents and Marketable Securities

The following tables summarize cash equivalents and marketable securities within significant investment categories by level of input within the fair value hierarchy as of January 31, 2026 and 2025 (in thousands):


	January 31, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash Equivalents		Marketable Securities
Level 1
Money market funds	$	81,237	$	-	$	-		$	81,237	$	79,103	$	2,134
Level 2
Commercial paper		437,817		307		(2	)		438,122		93,817		344,305
Corporate debt securities		228,455		165		(31	)		228,589		-		228,588
Asset-backed securities		23,306		336		-			23,642		-		23,642
Government agency securities		248,751		96		(94	)		248,753		121,820		126,934
Total	$	1,019,566	$	904	$	(127	)	$	1,020,343	$	294,740	$	725,603


	January 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash Equivalents		Marketable Securities
Level 1
Money market funds	$	26,262	$	-	$	-		$	26,262	$	24,369	$	1,903
Level 2
Commercial paper		56,611		10		(3	)		56,618		24,996		31,622
Corporate debt securities		26,940		27		(56	)		26,911		-		26,911
Asset-backed securities		20,344		30		(131	)		20,243		-		20,243
Total	$	130,157	$	67	$	(190	)	$	130,034	$	49,365	$	80,679

Gross unrealized losses within accumulated other comprehensive income (loss) were immaterial as of January 31, 2026 and 2025. There were no impairment charges due to credit losses during the fiscal years ended January 31, 2026, 2025, and 2024.

The following table summarizes the fair value of the Company's investments by remaining contractual maturity dates as of January 31, 2026 (in thousands):


	Fair Value
Due within one year	$	461,898
Due between one through five years		263,705
Total	$	725,603

The Convertible Notes are measured at fair value and are categorized within Level 3 of the fair value hierarchy. Prior to the IPO, the fair value of the Convertible Notes was estimated using scenario-based binomial lattice model. The scenarios consist of (a) Scenario 1 - likelihood of achieving a liquidity event, such as an IPO, and (b) Scenario 2 - the Company remains private. Following the IPO, the fair value of the Convertible Notes is estimated using a single-scenario lattice approach that incorporates the trading price of the Company's Class A common stock, risk-free interest rate, and estimated credit spread.

The fair value of the Convertible Notes on their respective issuance dates was the same as the carrying amounts of $401.0 million for the 2028 Notes and $75.0 million for the 2029 Notes.

The following tables summarize the significant quantitative inputs considered in the valuation of Convertible Notes as of January 31, 2026 and 2025:


	January 31, 2026						January 31, 2025
Inputs	2028 Notes			2029 Notes			2028 Notes			2029 Notes
Price per share of common stock	$	14.85		$	14.85		$	12.41		$	12.41
Conversion premium		30.0	%		30.0	%		30.0	%		30.0	%
Risk-free rate		3.6	%		3.7	%		4.3	%		4.3	%
Selected credit spread		10.0	%		10.0	%		13.8	%		13.8	%
Coupon rate		3.8	%		3.0	%		3.8	%		3.0	%
Expected volatility		40.0	%		40.0	%		65.0	%		65.0	%
Time until exit (in years)		-			-			0.7			0.7

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

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+ Details

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2023
Valuation Allowance [Line Items]
Valuation allowance	$ 571,559	$ 422,638
Increase of valuation allowance	148,900	66,700
Research and development tax credits	$ 51,617	37,765
Descrption of federal research and development tax credits expiration.	The federal R&D tax credits expire in varying amounts between fiscal year 2032 and fiscal year 2045.
Deferred tax liability	$ 39,719	37,521
Unrecognized tax benefits	39,928	$ 31,357	$ 38,371	$ 25,584
Unrecognized tax benefits that would impact effective tax rate	5,900
Interest and penalties	$ 700
Foreign Research and Development Expense Term	15 years
Federal
Valuation Allowance [Line Items]
Operating loss carryforwards federal	$ 1,500,000
Taxable income percentage	80.00%
Not expired amount	$ 1,300,000
Tax Credit Carryforwards	53,600
State
Valuation Allowance [Line Items]
Operating loss carry-forwards state	695,900
Expired amount	603,600
Not expired amount	92,300
Research and development tax credits	36,100
Foreign
Valuation Allowance [Line Items]
Deferred tax liability	$ 0

Stockholders' Equity (Deficit) - Schedule of Components of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 516,191	$ 50,834	$ 60,991
Stock-based compensation capitalized in internal-use software	253	93	453
Total stock-based compensation	516,444	50,927	61,444
Cost of revenue
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	33,217	2,477	2,925
Sales and marketing
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	94,510	18,341	25,125
Research and development
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	232,467	24,698	27,150
General and administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 155,997	$ 5,318	$ 5,791

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Balance Sheet Components

12 Months Ended

Jan. 31, 2026

Disclosure Text Block Supplement [Abstract]

Balance Sheet Components

Note 6 - Balance Sheet Components

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	January 31,
	2026		2025
Prepaid software and subscription	$	21,787	$	18,319
Prepaid data center-related costs		1,724		7,509
Prepaid sales and marketing		9,539		375
Prepaid insurance		4,213		2,025
Prepaid professional fees		2,125		1,723
Prepaid income and other taxes		12,352		3,908
Other		21,813		4,132
Total prepaid expenses and other current assets	$	73,553	$	37,991

Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):


	January 31,
	2026			2025
Data center equipment	$	196,835		$	179,773
Computers and related equipment		25,159			21,050
Capitalized internal-use software		30,453			27,420
Furniture and fixtures		2,101			2,019
Leasehold improvements		4,514			4,491
Total property and equipment		259,062			234,753
Less: accumulated depreciation and amortization		(165,186	)		(135,273	)
Property and equipment, net	$	93,876		$	99,480

Depreciation and amortization expenses were $30.1 million, $31.7 million, and $28.2 million for the fiscal years ended January 31, 2026, 2025, and 2024, respectively.

Accrued Compensation and Benefits

Accrued compensation and benefits consisted of the following (in thousands):


	January 31,
	2026		2025
Accrued bonus	$	45,017	$	35,521
Accrued commission		17,774		11,829
ESPP withholdings		10,607		-
Accrued vacation		7,105		4,059
Accrued payroll taxes		5,995		4,775
Other		13,382		6,597
Total accrued compensation and benefits	$	99,880	$	62,781

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	January 31,
	2026		2025
Accrued vendor liabilities	$	10,072	$	10,658
Accrued cash holdback in connection with acquisition		1,176		2,304
Accrued professional fees		2,920		1,669
Early exercised stock options liability		-		454
Income and other tax payable		8,292		5,563
Other		1,255		204
Total accrued expenses and other current liabilities	$	23,715	$	20,852

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 31, 2026

Accounting Policies [Abstract]

Summary of Total Revenue

Channel partners that represented 10% or more of the total revenue for the fiscal years ended January 31, 2026, 2025, and 2024, were as follows:


	Year Ended January 31,
	2026			2025	2024
Channel Partner A(a)		14	%	12%	11%
Channel Partner B	*			*	10%
* Less than 10%

(a) This same channel partner represented approximately 14% of the accounts receivable, net balance as of January 31, 2026.

Summary of Cash, Cash Equivalents, and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash to the total of these amounts shown in the consolidated statements of cash flows (in thousands):


	January 31,
	2026		2025
Cash and cash equivalents	$	432,583	$	166,012
Restricted cash		1,186		1,185
Total cash, cash equivalents, and restricted cash	$	433,769	$	167,197

Schedule of Property and Equipment Estimated Useful Lives

Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets, as follows:


		Estimated Useful Life
Data center equipment		5 years
Computers and related equipment		3 years
Capitalized internal-use software		5 years
Furniture and fixtures		3 years
Leasehold improvements		Shorter of useful life or term of lease

Description of Business

12 Months Ended

Jan. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Business

Note 1 - Description of Business

Netskope, Inc. ("Netskope" or the "Company") is a global cybersecurity company that provides security, networking, and analytics solutions to organizations ranging from some of the world's largest enterprises to mid-sized companies. The Company delivers its offerings through a Software-as-a-Service ("SaaS") business model, selling subscriptions that provide customers access to its platform along with related support services.

The Company was incorporated in Delaware in October 2012. The Company is headquartered in Santa Clara, California, and conducts business worldwide, including North America, South America, Europe, and Asia.

Initial Public Offering

In September 2025, the Company completed its initial public offering ("IPO") in which it issued and sold 54,970,000 shares of Class A common stock at the public offering price of $19.00 per share. The Company received net proceeds of approximately $992.2 million after deducting underwriting discounts and commissions of $52.2 million. In addition, the Company incurred offering costs totaling $6.5 million, which consisted mainly of direct incremental legal, accounting, and other fees related to the IPO. Prior to the IPO, the offering costs were initially recognized within prepaid expenses and other current assets in the consolidated balance sheets. Upon the consummation of the IPO, the offering costs were reclassified into stockholders' equity (deficit).

In connection with the closing of the IPO, all shares of the Company's outstanding convertible preferred stock were automatically converted into a total of 218,897,608 shares of Class B common stock.

Prior to the IPO, the Company granted certain stock options and restricted stock units ("RSUs") that had both service and performance vesting conditions. The performance condition pertained to the satisfaction of a liquidity event such as the consummation of an IPO. The Company was not required to recognize stock-based compensation expense for those stock options and RSUs prior to the IPO. Upon the satisfaction of the performance condition, which was the consummation of the IPO, the Company recognized stock-based compensation expense for those stock options and RSUs that had already met or partially met the service vesting condition. In connection with the vesting of the RSUs at the time of the IPO, the Company net settled the shares of common stock issued to the employees by withholding a total of 4,549,237 shares in order to satisfy the requirement to withhold and remit the employees' taxes associated with the vesting of the RSUs to the relevant tax authorities.

Fair Value Measurements - Summary of Quantitative Inputs Considered in the Valuation of Convertible Notes (Details) - UsdShares	Jan. 31, 2026	Jan. 31, 2025
2028 Notes \| Price per share of common stock
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Measurement Input	14.85	12.41
2028 Notes \| Conversion premium
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Measurement Input	30	30
2028 Notes \| Risk-free rate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Measurement Input	3.6	4.3
2028 Notes \| Selected credit spread
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Measurement Input	10	13.8
2028 Notes \| Coupon rate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Measurement Input	3.8	3.8
2028 Notes \| Expected volatility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Measurement Input	40	65
2028 Notes \| Time until exit (in years)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Measurement Input	0	0.7
2029 Notes \| Price per share of common stock
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Measurement Input	14.85	12.41
2029 Notes \| Conversion premium
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Measurement Input	30	30
2029 Notes \| Risk-free rate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Measurement Input	3.7	4.3
2029 Notes \| Selected credit spread
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Measurement Input	10	13.8
2029 Notes \| Coupon rate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Measurement Input	3	3
2029 Notes \| Expected volatility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Measurement Input	40	65
2029 Notes \| Time until exit (in years)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt Instrument, Measurement Input	0	0.7

Balance Sheet Components - Schedule of Accrued Compensation and Benefits (Details) - USD ($) $ in Thousands	Jan. 31, 2026	Jan. 31, 2025
Employee-related Liabilities, Current [Abstract]
Accrued bonus	$ 45,017	$ 35,521
Accrued commission	17,774	11,829
ESPP withholdings	10,607	0
Accrued vacation	7,105	4,059
Accrued payroll taxes	5,995	4,775
Other	13,382	6,597
Total accrued compensation and benefits	$ 99,880	$ 62,781

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jan. 31, 2026	Jan. 31, 2025
Current assets:
Cash and cash equivalents	$ 432,583	$ 166,012
Marketable securities	725,603	80,679
Accounts receivable, net	158,278	195,100
Inventories	4,902	5,763
Deferred contract acquisition costs	54,048	42,860
Prepaid expenses and other current assets	73,553	37,991
Total current assets	1,448,967	528,405
Property and equipment, net	93,876	99,480
Operating lease right-of-use assets	32,096	34,571
Intangible assets, net	21,403	37,242
Goodwill	61,083	61,083
Deferred contract acquisition costs, noncurrent	100,798	78,805
Other assets, noncurrent	14,069	18,920
Total assets	1,772,292	858,506
Current liabilities:
Accounts payable	14,436	2,652
Accrued compensation and benefits	99,880	62,781
Deferred revenue	532,732	430,156
Operating lease liabilities, current	10,769	10,267
Accrued expenses and other current liabilities	23,715	20,852
Total current liabilities	681,532	526,708
Deferred revenue, noncurrent	143,126	160,151
Convertible notes	720,960	626,622
Operating lease liabilities, noncurrent	23,424	25,808
Other liabilities, noncurrent	8,719	4,806
Total liabilities	1,577,761	1,344,095
Commitments and contingencies (Note 7)
Stockholders' equity (deficit):
Additional paid-in capital	2,888,202	418,791
Accumulated other comprehensive loss	(64,811)	(5,439)
Accumulated deficit	(2,628,900)	(1,949,512)
Total stockholders' equity (deficit)	194,531	(485,589)
Total liabilities and stockholders' equity (deficit)	1,772,292	858,506
Convertible Preferred Stock
Stockholders' equity (deficit):
Preferred stock	0	1,050,561
Preferred Stock
Stockholders' equity (deficit):
Preferred stock	0	0
Common Stock
Stockholders' equity (deficit):
Common stock	0	10
Class A Common Stock
Stockholders' equity (deficit):
Common stock	6	0
Class B Common Stock
Stockholders' equity (deficit):
Common stock	34	0
Class C Common Stock
Stockholders' equity (deficit):
Common stock	$ 0	$ 0

Segment Information (Tables)

12 Months Ended

Jan. 31, 2026

Segment Reporting [Abstract]

Schedule of Long-lived Assets by Geographical Area

Long-lived assets, which are comprised of property and equipment, net and operating lease right-of-use assets, by geographic area are summarized as follows (in thousands):


	January 31,
	2026		2025
United States	$	69,273	$	88,820
Rest of the world		56,699		45,231
Total long-lived assets	$	125,972	$	134,051

Net Loss Per Share Attributable to Common Stockholders - Schedule of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Numerator:
Net Income (Loss)	$ (679,388)	$ (354,510)	$ (344,852)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic	213,896,041	97,515,591	91,394,561
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted	213,896,041	97,515,591	91,394,561
Net loss per share attributable to common stockholders, basic	$ (3.18)	$ (3.64)	$ (3.77)
Net loss per share attributable to common stockholders, diluted	$ (3.18)	$ (3.64)	$ (3.77)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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-URI https://asc.fasb.org/1943274/2147481538/470-20-65-4

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Income Taxes - Schedule of Components of Income Taxes Paid Net of Refunds (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Income Tax Paid, by Individual Jurisdiction [Line Items]
Federal taxes	$ 0
States taxes	76
Income taxes paid	10,567	$ 6,626	$ 7,898
Brazil
Income Tax Paid, by Individual Jurisdiction [Line Items]
Foreign taxes:	840
India
Income Tax Paid, by Individual Jurisdiction [Line Items]
Foreign taxes:	5,799
Spain
Income Tax Paid, by Individual Jurisdiction [Line Items]
Foreign taxes:	922
United Kingdom
Income Tax Paid, by Individual Jurisdiction [Line Items]
Foreign taxes:	600
Other
Income Tax Paid, by Individual Jurisdiction [Line Items]
Foreign taxes:	$ 2,330

Revenue Recognition - Summary of the Activity of Deferred Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025
Revenue from Contract with Customer [Abstract]
Beginning balance	$ 590,307	$ 436,931
Additions	794,548	691,644
Recognition of deferred revenue	(708,997)	(538,268)
Ending balance	675,858	590,307
Deferred revenue, current	532,732	430,156
Deferred revenue, noncurrent	143,126	160,151
Total deferred revenue	$ 675,858	$ 590,307

Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jan. 31, 2026	Jan. 31, 2025
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid software and subscription	$ 21,787	$ 18,319
Prepaid data center-related costs	1,724	7,509
Prepaid sales and marketing	9,539	375
Prepaid insurance	4,213	2,025
Prepaid professional fees	2,125	1,723
Prepaid income and other taxes	12,352	3,908
Other	21,813	4,132
Total prepaid expenses and other current assets	$ 73,553	$ 37,991

Convertible Notes (Tables)

12 Months Ended

Jan. 31, 2026

Debt Disclosure [Abstract]

Schedule of Changes in Fair Value of Notes and Related Impact

The change in the fair value of the Convertible Notes and the related impact on the consolidated statement of operations and the consolidated statements of comprehensive loss are presented below (in thousands):


	2028 Notes			2029 Notes			Total
Fair value as of January 31, 2023	$	420,280		$	-		$	420,280
Change in fair value reported in the Consolidated Statement of Operations		38,575			-			38,575
Change in fair value reported in Consolidated Statement of Comprehensive Loss		13,645			-			13,645
Fair value as of January 31, 2024		472,500			-			472,500
Issuance during the period		-			75,000			75,000
Change in fair value reported in the Consolidated Statement of Operations		94,030			4,597			98,627
Change in fair value reported in Consolidated Statement of Comprehensive Loss		(19,269	)		(236	)		(19,505	)
Fair value as of January 31, 2025		547,261			79,361			626,622
Change in fair value reported in the Consolidated Statement of Operations		27,406			6,850			34,256
Change in fair value reported in Consolidated Statement of Comprehensive Loss		51,981			8,101			60,082
Fair value as of January 31, 2026	$	626,648		$	94,312		$	720,960

Remaining unpaid principal as of January 31, 2026	$	401,000		$	75,000		$	476,000

Stockholders' Equity (Deficit)

12 Months Ended

Jan. 31, 2026

Stockholders' Equity Note [Abstract]

Stockholders' Equity (Deficit)

Note 10 - Stockholders' Equity (Deficit)

Common Stock

In connection with the completion of the IPO, the Company amended and restated its certificate of incorporation (the "Charter"), which authorizes three classes of $0.0001 par common stock: 3,000,000,000 shares of Class A common stock, 600,000,000 shares of Class B common stock, and 1,000,000,000 shares of Class C. The rights of the holders of Class A common stock, Class B common stock, and Class C common stock are identical, except with respect to voting, conversion, and transfer rights. Each share of Class A common stock is entitled to one vote per share. Each share of Class B common stock is entitled to 20 votes per share and is convertible at any time into one share of Class A common stock. Shares of Class C common stock have no voting rights, except as otherwise required by law. Class A and Class B common stock are referred to collectively as common stock throughout the notes to the consolidated financial statements, unless otherwise noted. Common stockholders are entitled to dividends when and if declared by the board of directors.

Each outstanding share of Class B common stock is convertible at any time at the option of the holder into one share of Class A common stock. Any share of Class B common stock will automatically convert to Class A common stock following the earliest to occur of (i) the sale or transfer of such share of Class B common stock, except for permitted transfers as described in the Charter; (ii) the date specified by the holders of two-thirds of the outstanding shares of Class B common stock; (iii) the last trading day following the tenth anniversary of the effectiveness of the Registration Statement filed in connection with the Company’s IPO; (iv) the date fixed by the Company’s board of directors that is no less than 61 days and no more than 180 days following the date that Sanjay Beri, the Company's Chief Executive Officer, is no longer providing services to the Company as an officer, employee, consultant, or director; or (v) the date fixed by the board of directors that is no less than 61 days and no more than 180 days following the death or incapacity of Mr. Beri.

Founders Preferred Stock

In October 2012, the board of directors approved the issuance of Founders Preferred Stock ("Founders Preferred Stock") to two of the Company's founders. The Company issued 3,160,000 shares of Founders Preferred Stock to such two founders. Holders of the Founders Preferred Stock were not entitled to the dividend rights or the liquidation preference which were provided to holders of the Convertible Preferred Stock as outlined below. As of January 31, 2025, the shares and carrying values of Founders Preferred Stock

were included within common stock in the Company's consolidated balance sheets and consolidated statements of stockholders' equity (deficit).

Upon the closing of the IPO, all 3,160,000 shares of Founder Preferred Stock outstanding were automatically converted into an equal number of shares of Class B common stock.

Preferred Stock

In connection with the amendment of the Company's certificate of incorporation upon IPO, the Company authorized 300,000,000 shares of undesignated preferred stock, with a par value of $0.0001 per share. As of January 31, 2026, there were no preferred shares issued and outstanding.

Upon the closing of the IPO, all previously issued and outstanding convertible preferred stock was automatically converted at a 1:1 ratio into an aggregate of 218,897,608 shares of Class B common stock.

The convertible preferred stock as of January 31, 2025 consisted of the following (in thousands, except share and per share data):


Series	Shares Authorized		Shares Issued and Outstanding		Liquidation Amount		Carrying Value		Original Issuance Price per Share
Series A		14,545,452		14,545,452	$	5,500	$	5,443	$	0.38
Series B		21,057,508		21,057,508		15,900		15,840		0.76
Series C		24,075,348		24,074,764		35,000		34,911		1.45
Series D		33,416,113		33,416,113		74,995		74,878		2.24
Series E		38,358,222		38,358,222		101,431		101,322		2.64
Series F		30,981,174		30,981,174		168,714		168,591		5.45
Series G		41,793,107		41,793,107		349,820		349,576		8.37
Series H		14,671,268		14,671,268		300,000		300,000		20.45
Total		218,898,192		218,897,608	$	1,051,360	$	1,050,561

Prior to the IPO and the conversion, the holders of the convertible preferred stock had the following rights and preferences:

Dividend Rights

Holders of Series A through Series H convertible preferred stock ("Senior Preferred Stock") were entitled to receive non-cumulative dividends at the rate of 8% of their applicable original issue price per share (as adjusted for any stock dividends, stock splits, stock combinations, recapitalizations or similar events with respect to such), on a pari passu basis when, and if, as declared by the board of directors. No dividends will be paid to holders of Founders Preferred Stock or common stock until the aforementioned dividends on Senior Preferred Stock have been paid or declared and set aside for payment. Any remaining dividends shall be paid to the holders of Senior Preferred Stock, Founders Preferred Stock and common stock on an as-converted basis. The Company has not declared any dividends.

Conversion Rights

Each share of the Company's Senior Preferred Stock and Founders Preferred Stock was convertible, at the option of the holder, and was subject to automatic conversion upon the closing of an IPO, into the number of fully paid and non-assessable shares of common stock, which was calculated by dividing the applicable original issue price per share for the Senior Preferred Stock or $0.0000375 for the Founder Preferred Stock by the applicable conversion price per share on the date that the share certificate is surrendered for conversion. As of January 31, 2025, the conversion prices per share for all shares of Senior Preferred Stock were equal to the original issue prices, and the rate at which each share would convert into common stock was one-for-one. The conversion prices were subject to adjustment for specified dilutive issuances, stock splits, combinations, and non-cash dividends.

Liquidation Preference

In the event of any liquidation, dissolution or winding up of the Company, either voluntary or involuntary, the holders of shares of Senior Preferred Stock were entitled to receive, on a pari passu basis, prior and in preference to any distribution from the proceeds of the liquidation event of the Company to the holders of common stock or Founders Preferred Stock by reason of their ownership thereof, an amount per share equal to the applicable original issue price plus all declared but unpaid dividends, on each such share of Senior Preferred Stock held by them. If such liquidation event occurred, the proceeds thus distributed among the holders of Senior Preferred Stock were insufficient to permit the payment to such holders of the full aforesaid preferential amount, then the entire proceeds legally available for distribution would be distributed ratably among the holders of Senior Preferred Stock in proportion to the preferential amount each such holder is otherwise entitled to receive.

Voting Rights

The holders of convertible preferred stock were entitled to the number of votes equal to the number of shares of common stock into which such shares of preferred stock could be converted on the record date for the vote or consent of stockholders and, except as otherwise required by law or the Company's restated certificate of incorporation, had voting rights and powers equal to the voting rights and powers of the common stock. Fractional votes were not permitted. As long as at least 4,800,000 shares of each of the Series C and Series B convertible preferred stock and 4,000,000 shares of the Series A convertible preferred stock (as adjusted for any stock dividends, stock splits, stock combinations, recapitalizations or similar events with respect to such shares) remain outstanding, the holders of at least a majority of the outstanding shares of each of the Series A, B, and C convertible preferred stock, voting as a separate class, would each be entitled to elect one member of the Board. Each of the Board members elected by the holders of convertible preferred stock would have one vote on any action to be voted upon by the Board or any committee or subcommittee thereof. The holders of at least a majority of the outstanding shares of common stock and Founders Preferred Stock, voting together as a single class and on an as converted to common stock basis, would have been entitled to elect three members of the Board.

Each Board member elected by holders of common stock and Founders Preferred Stock would have one vote on any action to be voted upon the Board or any committee or subcommittee thereof, however if there was a vacancy or vacancies then the original Board member elected by holders of common stock and Founders Preferred Stock would have such additional votes for each vacancy. Any additional independent members on the Board were subject to election by at least 60% of the Senior Preferred Stock voting as a single class, and a majority of common stock and Founders Preferred Stock voting as a single class. Each independent member on the Board shall have one vote on any vote taken by the Board or a committee.

Redemption

The convertible preferred stock was not redeemable at the option of the holders thereof.

Classification of convertible preferred stock

Prior to the IPO and the conversion, the convertible preferred stock had been classified within permanent equity as the holders of convertible preferred stock did not control (1) the board of directors through direct representation or other rights or (2) the vote on matters submitted to the Company's stockholders, with only three out of eight voting rights.

Warrants

In August 2021, the Company issued common stock warrants to a channel partner to purchase 266,000 shares of common stock for an exercise price of $4.38 per share, exercisable upon the completion of certain milestones. A total of 66,500 shares of common stock were issued upon exercise of the warrants in a prior period after meeting certain milestones. As of January 31, 2025, a total of 199,500 shares of common stock were issuable under such warrants. As of January 31, 2026, there were no shares of common stock issuable under such warrants.

In January 2020, the Company issued warrants to a Series G preferred stock investor to acquire up to $30 million common stock upon a Direct Listing (as defined in the warrant agreement). A Direct Listing does not include an underwritten IPO of the Company's common stock registered under the Securities Act. These warrants expired as a result of the Company's IPO in September 2025. Prior to the IPO, the fair value of these warrants and the subsequent adjustments were not material to the consolidated financial statements.

In December 2014, the Company issued preferred stock warrants to an investor to purchase 4,814 shares of Series C preferred stock for an exercise price of $1.45 per share with an exercise period of 10 years or 2 years from the Company's IPO. These warrants were exercised in December 2024 on a net share basis which resulted in the issuance of 4,230 shares of Series C preferred stock.

Equity Incentive Plans

In 2012, the Company adopted the 2012 Stock Incentive Plan ("2012 Plan"), under which officers, employees, and consultants may be granted awards of options and the award or sale of shares. The options generally vest over four years with 25% of the option shares vesting one year from the service commencement date and then monthly over the following 36 months and expire no more than ten years after the date of grant. Stock that is purchased prior to vesting is subject to the Company's right of repurchase at any time following termination of the participant. Certain awards provide for accelerated vesting if there is a Change in Control (as defined in the 2012 Plan). The board of directors had authorized 127,243,597 shares of common stock to be reserved for grants of awards under the 2012 Plan.

In October 2022, the Company adopted the 2022 Stock Incentive Plan ("2022 Plan"), under which officers, employees, and consultants may be granted awards of options, restricted stock awards, stock appreciation rights, RSUs and other stock awards. The options generally vest over four years with 25% of the option shares vesting one year from the service begin date and then monthly over the following 36 months and expire no more than 10 years after the date of grant. RSUs granted under the 2022 Plan are subjected to service-based and performance-based vesting conditions. RSUs generally vest ratably over three to four years from vesting commencement date. Certain awards provided for accelerating vesting if there is a Change in Control (as defined in the 2022 Plan). The 2012 Plan was terminated upon the adoption of the 2022 Plan and all remaining shares available for issuance under the 2012 Plan were transferred into the 2022 Plan.

In connection with the IPO, in September 2025, the Company adopted the 2025 Equity Incentive Plan (the "2025 Plan", collectively, with the 2012 Plan and the 2022 Plan, referred to as the "Equity Incentive Plans"), under which the Company is authorized to grant awards of options, restricted stock, RSUs, stock appreciation rights, performance awards to employees, directors, and consultants, and the Company's parent and subsidiary corporation's employees and consultants. The 2022 Plan was terminated effective immediately upon the adoption of the 2025 Plan. Under the 2025 Plan, the Company initially reserved 38,210,000 shares of Class A common stock for issuance. In addition, the number of shares reserved for issuance under the 2025 Plan include the number of shares of Class A common stock and the number of shares of Class B common stock issuable under the 2012 Plan and 2022 Plan. The number of shares available for issuance under the 2025 Plan also includes an annual increase on the first day of each fiscal year beginning with the Company's 2027 fiscal year, equal to the lesser of: (i) 38,210,000 shares of Class A common stock, (ii) five percent (5%) of the outstanding shares of capital stock as of the last day of the immediately preceding fiscal year, or (iii) such other amount as the Company's board of directors may determine. As of January 31, 2026, there were 40,432,311 shares of Class A common stock reserved for future issuance under the 2025 Plan.

RSUs

A summary of the Company's RSU activity, including performance and market-based RSUs and restricted shares, is as follows:


	Number of Shares			Weighted- Average Grant Date Fair Value
Outstanding as of January 31, 2025		41,535,046		$	10.28
Granted		38,081,010		$	14.97
Released		(19,028,367	)	$	11.82
Forfeited		(11,689,991	)	$	10.43
Outstanding as of January 31, 2026		48,897,698		$	13.87

For the fiscal years ended January 31, 2026, 2025, and 2024, the total grant date fair value of RSUs that vested was $225.0 million, $8.5 million, and $6.4 million, respectively. The weighted-averaged grant date fair value of RSUs granted was $14.97, $11.25, and $10.47 per share for the fiscal years ended January 31, 2026, 2025, and 2024, respectively.

As of January 31, 2026, the Company had unrecognized stock-based compensation expense related to unvested RSUs of $416.8 million, including the performance and market-based RSUs described further below, that is expected to be recognized over a weighted-average period of 2.0 years once the performance condition is probable of being met.

Performance and Market-Based RSUs

Performance and market-based RSUs include RSU grants with service-based vesting condition and with performance-based and/or market-based vesting conditions. Prior to the IPO, all RSU grants had liquidity-contingent vesting conditions. For awards with performance-based vesting conditions, the Company determined the fair value based on the fair value of the Company's common stock on the date of grant. For awards with market-based vesting conditions, the Company used the Monte Carlo simulation method to determine the fair value at the grant date and the implied service period.

For the fiscal year ended January 31, 2026, the Company recognized $75.4 million of stock-based compensation expense attributable to the performance and market-based RSUs. No stock-based compensation expense attributable to performance and market-based RSUs was recognized for the fiscal years ended January 31, 2025 and 2024, as the performance-based vesting condition had not been satisfied in those periods.

Stock Options

A summary of stock option activity is as follows:


	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value (In thousands)
Outstanding as of January 31, 2025		58,655,952		$	5.72	5.7	$	344,465
Granted		207,350		$	15.32
Exercised		(7,230,930	)	$	4.87		$	77,451
Forfeited		(913,496	)	$	10.54
Outstanding as of January 31, 2026		50,718,876		$	5.80	4.68	$	459,400
Vested and expected to vest as of January 31, 2026		50,718,876		$	5.80	4.68	$	459,400
Vested and exercisable as of January 31, 2026		47,227,030		$	5.61	4.58	$	436,441

The aggregate intrinsic value of the options outstanding is calculated based on the difference between the exercise price and the fair value of the Company's common stock at the end of each period presented. The total intrinsic value of options exercised during fiscal years ended January 31, 2026, 2025, and 2024, was $77.5 million, $56.5 million, and $18.5 million, respectively. The total grant date fair value of options vested during the fiscal years ended January 31, 2026, 2025, and 2024 was $77.4 million, $46.4 million, and $64.3 million, respectively.

The weighted-average grant date fair value of options granted to employees during the fiscal years ended January 31, 2026, 2025, and 2024, was $8.95, $5.82, $5.54 per share, respectively.

The Black-Scholes assumptions used to value the stock options at the grant dates were as follows:


	Year Ended January 31,
	2026	2025	2024
Expected term (years)	5.6 - 6.1	5.3 - 6.0	5.2 - 5.9
Expected volatility	51.2% - 53.1%	49.1% - 51.8%	47.8% - 48.6%
Risk-free interest rate	3.9% - 4.1%	3.6% - 4.3%	3.9% - 4.2%
Expected dividend yield	0%	0%	0%

Early Exercise of Stock Options

Certain stock option holders have exercised options granted under the 2012 Plan prior to vesting. The unvested shares are subject to the Company's repurchase right at the original purchase price. The proceeds initially are recorded as a liability related to early exercised stock options and reclassified to additional paid-in capital as the repurchase right lapses. The Company did not issue any shares of common stock for early exercised options during the fiscal years ended January 31, 2026, 2025, and 2024.

As of January 31, 2025, 77,560 shares held by option holders were subject to repurchase at an aggregate price of $0.5 million. As of January 31, 2026, no shares held by option holders were subject to repurchase.

2025 Employee Stock Purchase Plan

In September 2025, the Company's board of directors adopted, and its stockholders approved, the 2025 ESPP, which became effective in connection with the IPO. The ESPP authorized the issuance of shares of common stock pursuant to purchase rights granted to employees. A total of 7,650,000 shares of the Company's Class A common stock has been reserved initially for future issuance under the ESPP, in addition to any annual automatic evergreen increases in the number of shares of Class A common stock reserved for future issuance under the ESPP.

The ESPP offers employees the option to purchase shares through a series of consecutive 12-month offering periods on each March 1st and September 1st (with two six-month purchase periods during each offering period). The initial offering period under the ESPP is shorter than 12 months, commencing on October 3, 2025 and ending on August 31, 2026, with the first purchase period commencing on October 3, 2025 and ending on February 28, 2026.

The price at which Class A common stock is purchased under the ESPP is equal to the lower of (i) 85% of the closing trading price per share of the Company's Class A common stock on the first date of an offering period in which a participant is enrolled or (ii) 85% of the closing trading price per share on the purchase date, which will occur on the last trading day of each purchase period. For the initial offering period, the fair market value of the Class A common stock on the offering date was $19.00, the price at which the Company's common stock was first sold to the public in the IPO, as specified in the final prospectus for the Company's IPO dated as of September 17, 2025 and filed with the SEC pursuant to the Rule 424(b)(4) on September 18, 2025.

The Company estimated the fair value of ESPP purchase rights using a Black-Scholes option-pricing model with the following assumptions:


		Year Ended January 31, 2026
Expected term (years)		0.41 - 0.91
Expected volatility		45.42% - 47.87%
Risk-free interest rate		3.68% - 3.92%
Expected dividend yield		0%

Stock-Based Compensation Expense

The following table summarizes the components of stock-based compensation during the periods presented (in thousands):


	Year Ended January 31,
	2026		2025		2024
Cost of revenue	$	33,217	$	2,477	$	2,925
Sales and marketing		94,510		18,341		25,125
Research and development		232,467		24,698		27,150
General and administrative		155,997		5,318		5,791
Total stock-based compensation expense		516,191		50,834		60,991
Stock-based compensation capitalized in internal-use software		253		93		453
Total stock-based compensation	$	516,444	$	50,927	$	61,444

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Stockholders' Equity (Deficit) - Schedule of RSU activity including performance and market based RSU and restricted shares (Details) - Restricted stock units [Member] - $ / shares	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, Beginning Balance	41,535,046
Shares, Granted	38,081,010
Shares, Released	19,028,367
Shares, Forfeited	(11,689,991)
Number of shares, Ending Balance	48,897,698	41,535,046
Weighted Average Grant Date Fair Value, Beginning Balance	$ 10.28
Weighted Average Grant Date Fair Value, Granted	14.97	$ 11.25	$ 10.47
Weighted Average Grant Date Fair Value, Released	11.82
Weighted Average Grant Date Fair Value, Forfeited	10.43
Weighted Average Grant Date Fair Value, Ending Balance	$ 13.87	$ 10.28

Segment Information - Schedule of Long-lived Assets by Geographical Area (Details) - USD ($) $ in Thousands	Jan. 31, 2026	Jan. 31, 2025
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 125,972	$ 134,051
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	69,273	88,820
Rest of the world [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets	$ 56,699	$ 45,231

Balance Sheet Components - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2026	Jan. 31, 2025
Accrued Liabilities and Other Liabilities [Abstract]
Accrued vendor expenses	$ 10,072	$ 10,658
Accrued cash holdback in connection with acquisition	1,176	2,304
Accrued professional fees	2,920	1,669
Early exercised stock options liability	0	454
Income and other tax payable	8,292	5,563
Other	1,255	204
Total accrued expenses and other current liabilities	$ 23,715	$ 20,852

Leases (Tables)

12 Months Ended

Jan. 31, 2026

Leases [Abstract]

Schedule of Supplemental Cash Flow Information, Weighted-average Remaining Lease Term and Weighted-average Discount Rate

Supplemental cash flow information related to the Company's operating leases for the fiscal years ended January 31, 2026, 2025, and 2024, as well as the weighted-average remaining lease term and weighted-average discount rate as of January 31, 2026 and 2025, were as follows (amount in thousands, except lease term and discount rate data):


	Year Ended January 31,
	2026		2025		2024
Supplemental Cash Flow Information
Cash paid for amount included in the measurement of operating lease liabilities	$	16,001	$	15,305	$	13,753
Operating lease ROU assets obtained in exchange for operating lease liabilities	$	11,242	$	13,164	$	11,078


	January 31,
	2026			2025
Weighted-average remaining lease term (years)		6.2			7.0
Weighted-average discount rate		7.3	%		7.6	%

The components of lease costs for the fiscal years ended January 31, 2026, 2025, and 2024 consisted of the following (in thousands):


	Year Ended January 31,
	2026		2025		2024
Operating lease costs	$	22,763	$	19,810	$	17,685
Short-term lease costs		386		652		863
Variable lease costs		3,564		3,258		2,026
Total lease costs	$	26,713	$	23,720	$	20,574

Schedule of Future Operating Lease Payments

Future operating lease payments as of January 31, 2026 were as follows (in thousands):


Fiscal Years Ending January 31,	Amount
2027		12,791
2028		5,948
2029		4,174
2030		3,637
2031		3,245
Thereafter		13,626
Total operating lease payments	$	43,421
Less: Imputed interest		(9,228	)
Present value of operating lease liabilities	$	34,193

Commitments and Contingencies - Schedule of Future Minimum Operating Lease Payments (Details) - USD ($) $ in Thousands	Jan. 31, 2026	Jan. 31, 2025
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
2027	$ 12,791
2028	5,948
2029	4,174
2030	3,637
2031	3,245
Thereafter	13,626
Total operating lease payments	43,421
Less: Imputed interest	(9,228)
Present value of operating lease liabilities	$ 34,193	$ 5,600

Balance Sheet Components (Tables)

12 Months Ended

Jan. 31, 2026

Disclosure Text Block Supplement [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	January 31,
	2026		2025
Prepaid software and subscription	$	21,787	$	18,319
Prepaid data center-related costs		1,724		7,509
Prepaid sales and marketing		9,539		375
Prepaid insurance		4,213		2,025
Prepaid professional fees		2,125		1,723
Prepaid income and other taxes		12,352		3,908
Other		21,813		4,132
Total prepaid expenses and other current assets	$	73,553	$	37,991

Schedule of Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):


	January 31,
	2026			2025
Data center equipment	$	196,835		$	179,773
Computers and related equipment		25,159			21,050
Capitalized internal-use software		30,453			27,420
Furniture and fixtures		2,101			2,019
Leasehold improvements		4,514			4,491
Total property and equipment		259,062			234,753
Less: accumulated depreciation and amortization		(165,186	)		(135,273	)
Property and equipment, net	$	93,876		$	99,480

Schedule of Accrued Compensation and Benefits

Accrued compensation and benefits consisted of the following (in thousands):


	January 31,
	2026		2025
Accrued bonus	$	45,017	$	35,521
Accrued commission		17,774		11,829
ESPP withholdings		10,607		-
Accrued vacation		7,105		4,059
Accrued payroll taxes		5,995		4,775
Other		13,382		6,597
Total accrued compensation and benefits	$	99,880	$	62,781

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	January 31,
	2026		2025
Accrued vendor liabilities	$	10,072	$	10,658
Accrued cash holdback in connection with acquisition		1,176		2,304
Accrued professional fees		2,920		1,669
Early exercised stock options liability		-		454
Income and other tax payable		8,292		5,563
Other		1,255		204
Total accrued expenses and other current liabilities	$	23,715	$	20,852

Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jan. 31, 2026	Jan. 31, 2025
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 259,062	$ 234,753
Less: accumulated depreciation and amortization	(165,186)	(135,273)
Property and equipment, net	93,876	99,480
Data Center Equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	196,835	179,773
Computers and Related Equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	25,159	21,050
Capitalized Internal-Use Software
Property, Plant and Equipment [Line Items]
Total property and equipment	30,453	27,420
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	2,101	2,019
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 4,514	$ 4,491

Leases - Additional Information (Details) - USD ($)	12 Months Ended
Leases - Additional Information (Details) - USD ($)	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Lessee, Lease, Description [Line Items]
Operating lease, description	The Company has entered into non-cancelable operating lease agreements to lease offices and space and racks at data center facilities with various expiration dates through fiscal year 2036, inclusive of the option to extend the term for the office lease in Santa Clara, California for one additional 5-year term, which is determined with reasonable certainty that the Company will exercise such option. The Company's operating lease arrangements do not contain any restrictive covenants or residual value guarantees. The Company is required to pay property taxes, insurance and normal maintenance costs for certain of these facilities.
Option to extend operating lease	true
Term of contract	5 years
Description of option to extend operating lease	In June 2024, the Company entered into a lease amendment to reduce the leased space, adjust the base rent, and extend the term of its office lease in Santa Clara, California to 2030, with an option to extend for one additional 5-year period.
Operating lease right-of-use assets	$ 32,096,000	$ 34,571,000
Operating lease liabilities	$ 34,193,000	5,600,000
Option to extend operating sublease	true
Description of option to extend operating sublease	In December 2023, the Company ceased to use a portion of the Company's leased office space in Santa Clara, California and entered into an agreement to sublease the space.
Option to terminate operating sublease	true
Description of option to terminate operating sublease	The sublease commenced in February 2024 and terminated in November 2025.
Loss on impairment of right-of-use assets	$ 0	$ 0	$ 1,300,000

Revenue Recognition - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Disaggregation of Revenue [Line Items]
Revenue	$ 708,997	$ 538,268	$ 406,883
Deferred revenue	(708,997)	(538,268)
Deferred revenue	429,800	335,400	255,400
Remaining performance obligations	1,200,000
United States [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 317,000	$ 250,600	$ 205,200
Revenue Benchmark [Member] \| Customer Concentration Risk [Member] \| Subscription Revenue [Member]
Disaggregation of Revenue [Line Items]
Concentration of risk percentage	99.00%	99.00%	98.00%

Basis of Presentation and Summary of Significant Accounting Policies - Summary of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Jan. 31, 2026	Jan. 31, 2025
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 432,583	$ 166,012
Restricted cash	1,186	1,185
Total cash, cash equivalents, and restricted cash	$ 433,769	$ 167,197

Income Taxes

12 Months Ended

Jan. 31, 2026

Income Tax Disclosure [Abstract]

Income Taxes

Note 11 - Income Taxes

The Company's geographical breakdown of loss before provision for income taxes for the fiscal years ended January 31, 2026, 2025, and 2024, were as follows (in thousands):


	Year Ended January 31,
	2026			2025			2024
Domestic	$	(656,983	)	$	(370,664	)	$	(355,001	)
Foreign		(11,070	)		20,397			16,933
Total	$	(668,053	)	$	(350,267	)	$	(338,068	)

The components of the provision for income taxes for the fiscal years ended January 31, 2026, 2025, and 2024, are as follows (in thousands):


	Year Ended January 31,
	2026			2025			2024
Current:
Federal	$	-		$	-		$	-
State		95			87			28
Foreign		13,496			7,527			9,192
Total current		13,591			7,614			9,220
Deferred:
Federal		(20	)		(1,965	)		6
State		(8	)		(214	)		3
Foreign		(2,228	)		(1,192	)		(2,445	)
Total deferred		(2,256	)		(3,371	)		(2,436	)
Provision for income taxes	$	11,335		$	4,243		$	6,784

The Company elected to adopt the guidance in ASC 2023-09, Income Taxes - Improvements to Income Tax Disclosure, on a prospective basis beginning with the fiscal year ended January 31, 2026. The following table presents required disclosure pursuant to ASU 2023-09 and provides a reconciliation between income taxes computed at the federal statutory rate and the provision for income taxes for the fiscal year ended January 31, 2026 (in thousands, except percentages)


	Year Ended January 31, 2026
	Amount			Percentage
Federal statutory rate	$	(140,291	)		21.0	%
State and local income taxes, net of federal income tax effect(a)		86			(0.0	)%
Foreign tax effects		10,863			(1.6	)%
Effect of cross-border tax laws:
Global intangible low-taxes income (GILTI)		909			(0.1	)%
Tax credits		(13,520	)		2.0	%
Changes in valuation allowances		133,061			(19.9	)%
Nontaxable or non-deductible items:
Stock-based compensation expense(b)		5,440			(0.8	)%
Convertible notes		7,194			(1.1	)%
Other		780			(0.1	)%
Change in unrecognized tax benefits		6,813			(1.0	)%
Provision for income taxes	$	11,335			(1.7	)%

(a) State and local taxes in California, Illinois, and New York made up the majority (great than 50%) of the tax effect in this category.


	Year Ended January 31,
	2025						2024
	Amount			Percentage			Amount			Percentage
Federal statutory rate	$	(73,556	)		21.0	%	$	(70,994	)		21.0	%
Effect of:
Foreign tax rate differential		1,696			(0.5	)%		2,026			(0.6	)%
Research and development tax credits		(17,401	)		5.0	%		(6,636	)		2.0	%
State taxes, net of federal benefit		(8,710	)		2.5	%		(9,180	)		2.7	%
Change in valuation allowance		64,323			(18.4	)%		71,249			(21.1	)%
Convertible note costs		23,222			(6.6	)%		9,113			(2.7	)%
Stock-based compensation expense		7,740			(2.2	)%		9,704			(2.9	)%
Other		6,929			(2.0	)%		1,502			(0.4	)%
	$	4,243			(1.2	)%	$	6,784			(2.0	)%

Deferred income taxes reflect the net tax effects of temporary difference between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The significant components of the Company's deferred tax assets and liabilities as of January 31, 2026 and 2025, were as follows (in thousands):


	January 31,
	2026			2025
Deferred tax assets:
Net operating loss carryforwards	$	353,789		$	251,616
Deferred revenue		37,988			24,725
Research and development tax credits		51,617			37,765
Section 174 capitalized costs		105,529			112,165
Stock-based compensation expense		44,995			13,825
Other DTA		21,618			21,986
Deferred tax assets		615,536			462,082
Less: valuation allowance		(571,559	)		(422,638	)
Net deferred tax assets		43,977			39,444

Deferred tax liabilities:
Deferred contract acquisition cost		(34,369	)		(27,519	)
Other		(5,350	)		(10,002	)
Total deferred tax liabilities		(39,719	)		(37,521	)
Net deferred tax assets	$	4,258		$	1,923

The Company regularly assesses the need for a valuation allowance against its deferred tax assets by considering both positive and negative evidence related to whether it is more likely than not that the deferred tax assets will be realized. In evaluating the need for a valuation allowance, the Company considers the cumulative losses in recent years as a significant piece of negative evidence that is generally difficult to overcome. As of January 31, 2026 and 2025, the Company continues to maintain a full valuation allowance against its U.S. federal and state deferred tax assets.

As of January 31, 2026 and 2025, the Company recorded a valuation allowance of $571.6 million and $422.6 million, respectively, on its deferred tax assets that the Company does not expect to be realized. The change in the valuation allowance was an increase of $148.9 million for the fiscal year ended January 31, 2026. The increase in the valuation allowance during the fiscal year ended January 31, 2026 was mainly due to an increase in deferred tax assets for its net operating loss carryforward, deferred revenue, and stock-based compensation. The valuation allowance on the deferred tax assets increased by $66.7 million during the fiscal year ended January 31, 2025. The increase in the valuation allowance during the fiscal year ended January 31, 2025 was mainly due to an increase in net operating loss carryforwards and Section 174 capitalized costs.

As of January 31, 2026, the Company had net operating loss carryforwards for federal income tax purposes of approximately $1.5 billion, of which $1.3 billion can be carried forward indefinitely but can only be used to offset 80% of taxable income. The remaining federal net operating loss carryforwards begin to expire in 2032. As of January 31, 2026, the Company had net operating loss carry-forwards for state income tax purposes of $695.9 million. The $603.6 million of state net operating loss carry-forwards begin expiring in 2026. The remaining $92.3 million of state net operating loss carry-forwards do not expire.

As of January 31, 2026, the Company had approximately $53.6 million of federal and $36.1 million of state research and development (R&D) credit carryforwards. The federal R&D tax credits expire in varying amounts between fiscal year 2032 and fiscal year 2045. The state R&D tax credits do not expire and may be carried forward indefinitely.

The Company's ability to utilize the net operating loss and tax credit carryforwards in the future may be subject to substantial restrictions in the event of future ownership changes as defined in Section 382 of Internal Revenue Code of 1986, as amended, and similar state tax law. Should these limitations apply, the carryforwards would be subject to an annual limitation, resulting a potential reduction in the gross deferred tax assets before considering the valuation allowance. The Company has conducted Section 382 studies and no past ownership changes would impact its ability to use these net operating losses.

The Company indefinitely reinvests earnings from its foreign subsidiaries and therefore no deferred tax liability has been recognized on the basis difference created by such earnings. The Company has not provided foreign withholding taxes for any undistributed earnings of the foreign subsidiaries.

The following is a rollforward of the total gross unrecognized tax benefits for the fiscal years ended January 31, 2026, 2025, and 2024, (in thousands):


	Amount
Balance as of January 31, 2023	$	25,584
Gross increase for tax positions of prior years		4,874
Gross decrease for tax positions of prior years		(545	)
Gross increases for tax positions of current year		8,508
Decrease for lapse of statute of limitations		(50	)
Balance as of January 31, 2024		38,371
Gross increase for tax positions of prior years		2,088
Gross decrease for tax positions of prior years		(13,591	)
Gross increases for tax positions of current year		4,885
Decrease for lapse of statute of limitations		(396	)
Balance as of January 31, 2025		31,357
Gross increase for tax positions of prior years		862
Gross decrease for tax positions of prior years		(300	)
Gross increase for tax positions of current year		8,332
Decrease for lapse of statute of limitations		(323	)
Balance as of January 31, 2026	$	39,928

As of January 31, 2026, the Company had $39.9 million of unrecognized tax benefits. If the $39.9 million is recognized, $5.9 million would impact the effective tax rate. The remaining amount would be offset by the reversal of related deferral tax assets which are subject to a full valuation allowance. The Company records interest and penalties related to unrecognized tax benefits in income tax expense. The total amount of interest and penalties was $0.7 million as of January 31, 2026.

The Company files federal, state, and foreign income tax returns in jurisdictions with varying statutes of limitations. Due to the Company's net operating loss carryforwards, the income tax returns generally remain subject to examination by federal and most state and foreign tax authorities.

The One Big Beautiful Bill Act (“OBBBA”), passed in July 2025 allows an immediate deduction for domestic research and experimental expenditures paid or incurred by the taxpayer during the taxable years beginning after December 31,2024. The Company is still required to capitalize and amortize foreign R&D expenses over 15 years.

The following table presents income taxes paid, net of refunds received, for the fiscal year ended January 31, 2026 (in thousands):


	Year Ended January 31, 2026
Federal taxes	$	-
States taxes		76
Foreign taxes:
Brazil		840
India		5,799
Spain		922
United Kingdom		600
Other		2,330
Income taxes paid	$	10,567

Below is a summary of income taxes paid, net of refunds received, for the fiscal years ended January 31, 2025 and 2024 (in thousands).


	Year Ended January 31,
	2025		2024
Cash paid for income taxes	$	6,626	$	7,898

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Income Statement [Abstract]
Revenue	$ 708,997	$ 538,268	$ 406,883
Cost of revenue	226,328	190,369	163,633
Gross profit	482,669	347,899	243,250
Operating expenses:
Sales and marketing	393,742	280,828	263,096
Research and development	509,029	254,189	224,496
General and administrative	232,477	68,623	68,456
Total operating expenses	1,135,248	603,640	556,048
Loss from operations	(652,579)	(255,741)	(312,798)
Other income (expense), net:
Loss on changes in fair value of convertible notes	(34,256)	(98,627)	(38,575)
Other income, net	18,782	4,101	13,305
Loss before provision for income taxes	(668,053)	(350,267)	(338,068)
Provision for income taxes	11,335	4,243	6,784
Net loss	$ (679,388)	$ (354,510)	$ (344,852)
Net loss per share attributable to common stockholders, basic	$ (3.18)	$ (3.64)	$ (3.77)
Net loss per share attributable to common stockholders, diluted	$ (3.18)	$ (3.64)	$ (3.77)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic	213,896,041	97,515,591	91,394,561
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted	213,896,041	97,515,591	91,394,561

Leases - Lease Term and Discount Rate (Details)	Jan. 31, 2026	Jan. 31, 2025
Lease, Cost [Abstract]
Weighted-average remaining lease term (years)	6 years 2 months 12 days	7 years
Weighted-average discount rate	7.30%	7.60%

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ (679,388)	$ (354,510)	$ (344,852)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Stockholders' Equity (Deficit) - Schedule of Black-Scholes Assumptions (Details)	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Black-Scholes option-pricing model
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%	0.00%
ESPP
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected dividend yield	0.00%
Minimum [Member] \| Black-Scholes option-pricing model
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (years)	5 years 7 months 6 days	5 years 3 months 18 days	5 years 2 months 12 days
Expected volatility	51.20%	49.10%	47.80%
Risk-free interest rate	3.90%	3.60%	3.90%
Minimum [Member] \| ESPP
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (years)	4 months 28 days
Expected volatility	45.42%
Risk-free interest rate	3.68%
Maximum [Member] \| Black-Scholes option-pricing model
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (years)	6 years 1 month 6 days	6 years	5 years 10 months 24 days
Expected volatility	53.10%	51.80%	48.60%
Risk-free interest rate	4.10%	4.30%	4.20%
Maximum [Member] \| ESPP
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (years)	10 months 28 days
Expected volatility	47.87%
Risk-free interest rate	3.92%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Fair Value Measurements - Schedule of Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	Jan. 31, 2026	Jan. 31, 2025
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	$ 1,019,566	$ 130,157
Gross Unrealized Gains	904	67
Gross Unrealized Losses	(127)	(190)
Fair Value	1,020,343	130,034
Cash Equivalents	294,740	49,365
Marketable Securities	725,603	80,679
Level 1 \| Money market funds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	81,237	26,262
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	81,237	26,262
Cash Equivalents	79,103	24,369
Marketable Securities	2,134	1,903
Level 2 \| Commercial paper
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	437,817	56,611
Gross Unrealized Gains	307	10
Gross Unrealized Losses	(2)	(3)
Fair Value	438,122	56,618
Cash Equivalents	93,817	24,996
Marketable Securities	344,305	31,622
Level 2 \| Corporate debt securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	228,455	26,940
Gross Unrealized Gains	165	27
Gross Unrealized Losses	(31)	(56)
Fair Value	228,589	26,911
Cash Equivalents	0	0
Marketable Securities	228,588	26,911
Level 2 \| Asset-backed securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	23,306	20,344
Gross Unrealized Gains	336	30
Gross Unrealized Losses	0	(131)
Fair Value	23,642	20,243
Cash Equivalents	0	0
Marketable Securities	23,642	$ 20,243
Level 2 \| Government agency securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amortized Cost	248,751
Gross Unrealized Gains	96
Gross Unrealized Losses	(94)
Fair Value	248,753
Cash Equivalents	121,820
Marketable Securities	$ 126,934

Fair Value Measurements - Additional Information (Details) - USD ($)	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024	Sep. 19, 2025
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Convertible notes issued		$ 75,000,000
Impairment charges	$ 0	0	$ 0
2028 Notes
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Convertible notes issued	401,000,000	0
2029 Notes
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Convertible notes issued	$ 75,000,000	$ 75,000,000		$ 50,000,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Income Taxes - Schedule of Reconciliation between Income Taxes at the Federal Statutory Rate and Provision for Income Taxes (Details) - USD ($)
$ in Thousands

12 Months Ended

Jan. 31, 2026

Jan. 31, 2025

Jan. 31, 2024

Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]

Federal statutory rate

$ (140,291)

$ (73,556)

$ (70,994)

State and local income taxes, net of federal income tax effect

^[1]

(8,710)

(9,180)

Foreign tax effects

10,863

1,696

2,026

Effect of cross-border tax laws:

Global intangible low-taxes income (GILTI)

909

Tax credits

(13,520)

Research and development tax credits

(17,401)

(6,636)

Changes in valuation allowances

133,061

64,323

71,249

Nontaxable or non-deductible items:

Stock-based compensation expense

5,440

^[2]

7,740

9,704

Convertible notes

7,194

23,222

9,113

Other

780

Change in unrecognized tax benefits

6,813

Other

6,929

1,502

Provision for income taxes

$ 11,335

$ 4,243

$ 6,784

Effective Income Tax Rate Reconciliation, Percent [Abstract]

Federal statutory rate

21.00%

State and local income taxes, net of federal income tax effect

(0.00%)

^[1]

2.50%

2.70%

Foreign tax effects

(1.60%)

(0.50%)

(0.60%)

Effect of cross-border tax laws:

Global intangible low-taxes income (GILTI)

(0.10%)

Tax credits

2.00%

Research and development tax credits

5.00%

2.00%

Changes in valuation allowances

(19.90%)

(18.40%)

(21.10%)

Nontaxable or non-deductible items:

Stock-based compensation expense

(0.80%)

^[2]

(2.20%)

(2.90%)

Convertible notes

(1.10%)

(6.60%)

(2.70%)

Other

(0.10%)

Change in unrecognized tax benefits

(1.00%)

Other

(2.00%)

(0.40%)

Provision for income taxes, Percent

(1.70%)

(1.20%)

(2.00%)

[1]

State and local taxes in California, Illinois, and New York made up the majority (great than 50%) of the tax effect in this category.

[2]

Includes amounts related to non-deductible stock-based compensation, including non-deductible executive compensation, in addition to excess tax benefits or shortfalls from stock-based compensation. The Company's provision for income tax for the fiscal year ended January 31, 2026 includes $24.8 million of excess tax benefits and $30.9 million of limitation on stock-based compensation deduction for executive compensation limited by Internal Revenue Section 162(m).

Acquisitions Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Oct. 31, 2024	Sep. 30, 2023	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Business Combination [Line Items]
Amortization expenses related to acquired intangible assets			$ 15,800	$ 22,700	$ 21,100
Amortization period of the intangible assets			2 years	2 years
Change in carrying amount of goodwill			$ 0
Business Combination, Achieved in Stages, Preacquisition Equity Interest in Acquiree, Fair Value, Valuation Technique [Extensible Enumeration]	us-gaap:ValuationTechniqueOptionPricingModelMember
Common Stock
Business Combination [Line Items]
Issued shares of common stock				1,947,810
Dasera, Inc
Business Combination [Line Items]
Voting equity interests	100.00%
Total purchase consideration	$ 2,500
Secure indemnification obligations	3,400
Pre-combination services	200
Identifiable intangible assets	19,400
Net liabilities assumed	500
Deferred tax liabilities	2,200
Purchase price over the fair value	3,900
Total fair value	400
Post-combination services	200
Transaction costs				$ 500
Dasera, Inc \| Customer Relationship
Business Combination [Line Items]
Identifiable intangible assets	$ 1,200	$ 3,000
Estimated useful lives	2 years	2 years
Dasera, Inc \| Developed Technology
Business Combination [Line Items]
Identifiable intangible assets	$ 18,200	$ 9,300
Estimated useful lives	3 years	3 years
Dasera, Inc \| Common Stock
Business Combination [Line Items]
Total purchase consideration	$ 17,900
Kadiska, Inc
Business Combination [Line Items]
Voting equity interests		100.00%
Total purchase consideration		$ 16,600
Secure indemnification obligations		2,400
Identifiable intangible assets		12,300
Deferred tax liabilities		2,100
Purchase price over the fair value		5,500
Post-combination services		3,600
Transaction costs		800
Net assets acquired		$ 900
Kadiska, Inc \| Common Stock
Business Combination [Line Items]
Issued shares of common stock		329,293

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Cash flows from operating activities
Net loss	$ (679,388)	$ (354,510)	$ (344,852)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Stock-based compensation expense	516,191	50,834	60,991
Depreciation and amortization	45,902	51,544	49,548
Amortization of deferred contract acquisition costs	54,208	45,265	34,230
Non-cash operating lease expenses	13,701	11,975	10,332
(Accretion of discount) amortization of premium on investments	(3,380)	(2,029)	(9,383)
Change in fair value of convertible notes	34,256	98,627	38,575
Deferred income tax benefit	(2,256)	(3,371)	(2,445)
Other	633	1,453	1,107
Changes in operating assets and liabilities:
Accounts receivable	36,822	(81,128)	(8,192)
Inventories	529	686	(5,603)
Deferred contract acquisition costs	(87,389)	(66,183)	(58,720)
Prepaid expenses and other current assets	(28,155)	(4,100)	(7,937)
Other non-current assets	7,149	(8,912)	(981)
Accounts payable	11,353	(4,085)	(7,043)
Accrued compensation and benefits	35,215	13,353	6,466
Operating lease liabilities	(13,108)	(13,093)	(11,284)
Accrued expenses and other current liabilities	6,367	(741)	2,643
Deferred revenue	85,551	152,940	83,698
Other non-current liabilities	3,872	797	1,684
Net cash provided by (used in) operating activities	38,073	(110,678)	(167,166)
Cash flows from investing activities
Purchases of property and equipment	(22,920)	(33,695)	(30,613)
Capitalized internal-use software	(2,780)	(3,390)	(7,197)
Purchases of intangible assets	0	(3,337)	(3,342)
Payments for business combination, net of cash acquired	0	(2,508)	(13,579)
Proceeds from disposal of fixed assets	0	30	18
Purchases of marketable securities	(805,659)	(104,465)	(133,183)
Proceeds from maturities of marketable securities	83,996	149,609	363,861
Proceeds from sales of marketable securities	80,496	0	985
Net cash (used in) provided by investing activities	(666,867)	2,244	176,950
Cash flows from financing activities
Proceeds from issuance of common stock upon initial public offering, net of underwriting discount and commissions	992,209	0	0
Payments for deferred offering costs	(6,320)	(143)	0
Proceeds from issuance of common stock upon exercise of stock options	35,257	35,649	10,218
Proceeds from issuance of convertible senior notes, net of issuance cost	0	74,355	0
Cash received for tax withholding obligations upon settlement of equity awards	37,435	0	0
Payments for tax withholding obligations upon settlement of equity awards	(159,325)	0	0
Payments for holdback consideration on business combination	(3,325)	0	(3,932)
Repurchase of common stock	(565)	0	0
Net cash provided by financing activities	895,366	109,861	6,286
Net increase in cash, cash equivalents, and restricted cash	266,572	1,427	16,070
Cash, cash equivalents, and restricted cash, beginning of year	167,197	165,770	149,700
Cash, cash equivalents, and restricted cash, end of year	433,769	167,197	165,770
Supplemental disclosure of cash flow information:
Cash paid for interest	0	5	3
Non-cash investing and financing activities:
Stock-based compensation capitalized in internal-use software	253	93	453
Property and equipment purchased but not yet paid	1,311	474	1,945
Vesting of early exercised stock options	458	1,660	2,220
Issuance of common stocks in connection with acquisitions	0	18,114	0
Conversion of preferred stock into common stock	1,050,561	0	0
Deferred offering costs accrued but not yet paid	$ 0	$ 128	$ 0

Leases - Schedule of Future Operating Lease Payments (Details) - USD ($) $ in Thousands	Jan. 31, 2026	Jan. 31, 2025
Leases [Abstract]
2027	$ 12,791
2028	5,948
2029	4,174
2030	3,637
2031	3,245
Thereafter	13,626
Total operating lease payments	43,421
Less: Imputed interest	(9,228)
Present value of operating lease liabilities	$ 34,193	$ 5,600

Description of Business - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 30, 2025	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024	Sep. 18, 2025
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Date of entity incorporation		2012-10
Entity incorporation, state or country code		DE
Net proceeds after deducting underwriting discounts and commissions		$ 992,209	$ 0	$ 0
IPO [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Initial Offering Period		In September 2025, the Company completed its initial public offering ("IPO") in which it issued and sold 54,970,000 shares of Class A common stock at the public offering price of $19.00 per share.
Net proceeds after deducting underwriting discounts and commissions	$ 992,200
Offering cost	$ 6,500
Common Stock
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Convertion of stock		218,897,608
Class A Common Stock [Member] \| IPO [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of shares issued and sold in initial public offering	54,970,000
Sale of stock, price per share					$ 19
Underwriting discounts and commissions	$ 52,200
Class B Common Stock
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Convertion of stock		218,897,608
Class B Common Stock \| IPO [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Shares withheld for tax withholding obligation (in shares)	4,549,237

Leases

12 Months Ended

Jan. 31, 2026

Leases [Abstract]

Leases

Note 8 - Leases

The Company has entered into non-cancelable operating lease agreements to lease offices and space and racks at data center facilities with various expiration dates through fiscal year 2036, inclusive of the option to extend the term for the office lease in Santa Clara, California for one additional 5-year term, which is determined with reasonable certainty that the Company will exercise such option. The Company's operating lease arrangements do not contain any restrictive covenants or residual value guarantees. The Company is required to pay property taxes, insurance and normal maintenance costs for certain of these facilities.

In June 2024, the Company entered into a lease amendment to reduce the leased space, adjust the base rent, and extend the term of its office lease in Santa Clara, California to 2030, with an option to extend for one additional 5-year period. The modification resulted in additional right-of-use assets and corresponding lease liabilities of $5.6 million, which were recorded during the year ended January 31, 2025.

In December 2023, the Company ceased to use a portion of the Company's leased office space in Santa Clara, California and entered into an agreement to sublease the space. The sublease commenced in February 2024 and terminated in November 2025. The Company recognized a loss of $1.3 million as a result of the impairment of related right-of-use assets during the year ended January 31, 2024. The sublease income for the fiscal years ended January 31, 2026, 2025, and 2024 were immaterial.


	Year Ended January 31,
	2026		2025		2024
Supplemental Cash Flow Information
Cash paid for amount included in the measurement of operating lease liabilities	$	16,001	$	15,305	$	13,753
Operating lease ROU assets obtained in exchange for operating lease liabilities	$	11,242	$	13,164	$	11,078


	January 31,
	2026			2025
Weighted-average remaining lease term (years)		6.2			7.0
Weighted-average discount rate		7.3	%		7.6	%

The components of lease costs for the fiscal years ended January 31, 2026, 2025, and 2024 consisted of the following (in thousands):


	Year Ended January 31,
	2026		2025		2024
Operating lease costs	$	22,763	$	19,810	$	17,685
Short-term lease costs		386		652		863
Variable lease costs		3,564		3,258		2,026
Total lease costs	$	26,713	$	23,720	$	20,574

Future operating lease payments as of January 31, 2026 were as follows (in thousands):


Fiscal Years Ending January 31,	Amount
2027		12,791
2028		5,948
2029		4,174
2030		3,637
2031		3,245
Thereafter		13,626
Total operating lease payments	$	43,421
Less: Imputed interest		(9,228	)
Present value of operating lease liabilities	$	34,193

Convertible Notes - Schedule of Changes in Fair Value of Notes and Related Impact (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024	Sep. 19, 2025
Debt Instrument [Line Items]
Beginning Balance	$ 626,622	$ 472,500	$ 420,280
Issuance during the period		75,000
Change in fair value reported in the Condensed Consolidated Statement of Operations	34,256	$ 98,627	38,575
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Debt Securities, Gain (Loss)
Change in fair value reported in Condensed Consolidated Statement of Comprehensive Loss	$ 60,082	$ (19,505)	13,645
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]	Unrealized (Loss) Gain on Convertible Notes, Net of Tax
Ending Balance	$ 720,960	626,622	472,500
Remaining unpaid principal	476,000
2028 Notes
Debt Instrument [Line Items]
Beginning Balance	547,261	472,500	420,280
Issuance during the period	401,000	0
Change in fair value reported in the Condensed Consolidated Statement of Operations	27,406	94,030	38,575
Change in fair value reported in Condensed Consolidated Statement of Comprehensive Loss	51,981	(19,269)	13,645
Ending Balance	626,648	547,261	472,500
Remaining unpaid principal	401,000
2029 Notes
Debt Instrument [Line Items]
Beginning Balance	79,361	0	0
Issuance during the period	75,000	75,000		$ 50,000
Change in fair value reported in the Condensed Consolidated Statement of Operations	6,850	4,597	0
Change in fair value reported in Condensed Consolidated Statement of Comprehensive Loss	8,101	(236)	0
Ending Balance	94,312	$ 79,361	$ 0
Remaining unpaid principal	$ 75,000

Net Loss Per Share Attributable to Common Stockholders

12 Months Ended

Jan. 31, 2026

Earnings Per Share [Abstract]

Net Loss Per Share Attributable to Common Stockholders

Note 13 - Net Loss Per Share Attributable to Common Stockholders

The Company computes net loss per share utilizing the two-class method required for participating securities. Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average shares of common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potential common stock, including stock options, convertible preferred stock, convertible notes, RSUs, stock warrants, and restricted shares, to the extent they are dilutive.

The rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting, conversion, and transfer rights. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis to each class of common stock and the resulting basic and diluted net loss per share attributable to common stockholders are, therefore, the same for both Class A and Class B common stock on both individual and combined basis.

Basic and diluted net loss per share attributable to common stockholders was as follows (in thousands, except share and per share amount):


	Year Ended January 31,
	2026			2025			2024
Numerator:
Net loss attributable to common stockholders	$	(679,388	)	$	(354,510	)	$	(344,852	)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted		213,896,041			97,515,591			91,394,561
Net loss per share attributable to common stockholders, basic and diluted	$	(3.18	)	$	(3.64	)	$	(3.77	)

The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share because including them would have had an anti-dilutive effect:


	January 31,
	2026		2025		2024
Stock options		50,718,876		58,655,952		71,176,423
Convertible preferred stock		-		218,897,608		218,893,378
Convertible notes		22,136,005		20,879,521		17,598,191
Restricted stock units		48,622,268		40,904,473		26,408,539
Shares subject to repurchase		275,430		708,510		1,297,983
Conversion of stock warrants		-		199,500		204,314
Total		121,752,579		340,245,564		335,578,828

Convertible Notes

12 Months Ended

Jan. 31, 2026

Debt Disclosure [Abstract]

Convertible Notes

Note 9 - Convertible Notes

2028 Notes

In December 2022, the Company issued $401.0 million in aggregate principal amount of its 2028 Notes pursuant to an indenture, dated as of December 22, 2022 (as supplemented by that certain First Supplemental Indenture, dated April 25, 2025 and Second Supplemental Indenture, dated September 19, 2025, the "2028 Notes Indenture"), between the Company and U.S. Bank Trust Company, National Association, as trustee.The 2028 Notes are senior unsecured obligations of the Company, which accrue interest quarterly at a rate of 3.75% per annum, with such interest to be paid in kind through an increase in the principal amount of the 2028 Notes, or paid in cash, at the election of the Company, on a quarterly basis. The 2028 Notes will mature on December 15, 2028 unless earlier redeemed, repurchased, or converted.

Holders of the 2028 Notes may convert their 2028 Notes in the following circumstances:

•

From the second anniversary of the issue date of the 2028 Notes through the business day before the earlier of (x) the maturity date of the 2028 Notes and (y) the date of a Qualified IPO;

•

From the business day after nine months following the IPO through the business day before maturity date of the 2028 Notes;

•

Upon certain corporate events, including a Fundamental Change or Common Stock Change Event (each as defined in the 2028 Notes Indenture); and

•

If the Company elects to redeem the 2028 Notes in connection with certain tax events.

In April 2025, the Company amended certain terms of the 2028 Notes, which amendments became effective upon the effectiveness of the IPO in September 2025. The amendments included the following:

•

Extension of the maturity date of the 2028 Notes from December 15, 2027 to December 15, 2028;

•

Cancellation of the holders’ option to request the repurchase of the 2028 Notes in December 2026, and modification of the optional repurchase window to begin 120 days prior to the amended maturity date of the 2028 Notes and end 91 days prior to such date;

•

Modification of post-Redemption Trigger Date (as defined in the 2028 Notes Indenture) redemption terms, under which the Company may redeem the 2028 Notes on or before the fortieth scheduled trading day immediately prior to the maturity date of the 2028 Notes, contingent upon the price of the Company’s Class B common stock exceeding at least 200% (or 230% post-December 15, 2027) of the conversion price for a specified period unless such redemption is in connection with a change in tax law.

Following the Company's IPO in September 2025, if any of the 2028 Notes are converted by the holders thereof, the Company may elect to settle such conversion by paying or delivering, as the case may be, cash, shares of its Class B common stock, or any combination thereof. However, for the conversions that occur before the Qualified IPO, conversions could only be settled in shares of the Company's common stock. The conversion rate of the 2028 Notes is 42.1046 shares per $1,000 principal amount of 2028 Notes, which is equal to a conversion price of approximately $23.75 per share.

The Company may not redeem the 2028 Notes before the one-year anniversary of the IPO, or the period between the effective date of a Fundamental Change up to the sixty-fifth trading day following the date the Company issues the related Fundamental Change notice, or the Redemption Trigger Date (as defined in the 2028 Notes Indenture) unless it is a redemption in connection with a change in tax law. After the Redemption Trigger Date and before maturity of the 2028 Notes, the Company may redeem some or all of the 2028 Notes if the last reported sale price of its Class B common stock is at least 200% (or 230% post-December 15, 2027) of the conversion price for a specific trading-day periods and if certain liquidity conditions are satisfied. The redemption price will equal the principal plus accrued and unpaid interest on the 2028 Notes called for redemption, except that redemptions in connection with certain corporate events will be subject to the Fundamental Change repurchase price as described below. The Company may not redeem less than all of the 2028 Notes if following such redemption, fewer than $100.0 million aggregate principal amount of the 2028 Notes would remain outstanding.

Holders of the 2028 Notes have the right to request the Company to repurchase all or part of the 2028 Notes in cash during the period beginning 120 days prior to the maturity date of the 2028 Notes and ending 91 days prior to the maturity date of the 2028 Notes. The repurchase price included principal, accrued interest, and a minimum return multiple equal to a quarterly compounded 14.0% rate, reduced for any prior cash interest payments.

If a Fundamental Change occurs prior to maturity, the holders of the 2028 Notes may require the Company to repurchase all or any whole number of their 2028 Notes for cash. The repurchase price would be the greater of (i) a specified premium ranging from 140% to 170% of principal amount of the 2028 Notes, depending on the date of such repurchase, and (ii) the principal amount plus all accrued and unpaid interest thereon. The definition of Fundamental Change in the 2028 Notes Indenture includes certain business combination transactions involving the Company, as well as certain de-listing events concerning the Company's common stock.

The 2028 Notes Indenture contains customary terms, covenants, and events of default. Upon an event of default related to insolvency or bankruptcy of the Company, the 2028 Notes become immediately due and payable without further action or notice by any person. Upon certain other events of default, the 2028 Notes may be accelerated by the trustee under the 2028 Notes Indenture or by holders representing at least 25% of the outstanding aggregate principal amount of the 2028 Notes. Upon acceleration, the amount due includes the aggregate principal amount of the outstanding 2028 Notes, plus any accrued and unpaid interest, and an acceleration premium designed to ensure a minimum total return of 140% to 170% of the principal amount of the 2028 Notes, taking into account any prior cash interest payments made.

The 2028 Notes are subject to certain negative covenants that restrict the ability of the Company and its subsidiaries to incur additional indebtedness while at least 10% of the originally issued aggregate principal amount of the 2028 Notes remains outstanding, subject to certain exclusions and exceptions. Prior to the Qualified IPO, the 2028 Notes also contained restrictions on the Company's ability to make dividends or other equity-related payments, redeem or prepay any the Company's or its subsidiaries' subordinated obligations, consummate certain asset sales, or sell or exclusively license material intellectual property, in each case, subject to certain exclusions and exceptions. Prior to the Qualified IPO, the Company was also required to maintain minimum liquidity equal to the excess of its consolidated cash over accounts payable outstanding more than 90 days from invoice date in an amount of at least $40.0 million. However, the 2028 Notes permit the Company to secure and draw on a revolving credit facility of up to $150 million.

2029 Notes

In August 2024, the Company entered into a Note Purchase Agreement, or the Note Agreement, with certain investors. Pursuant to the Note Agreement, in September 2024 or the Issuance Date, the Company issued $75.0 million in an aggregate principal amount of its 2029 Notes pursuant to an indenture, dated September 30, 2024 (as supplemented by that certain First Supplemental Indenture,

dated as of September 19, 2025, the "2029 Notes Indenture"), between the Company and U.S. Bank Trust Company, National Association, as trustee. The 2029 Notes are senior unsecured obligations of the Company, which accrue interest quarterly at a rate of 3.00% per annum, with such interest to be paid in kind through an increase in the principal amount of the 2029 Notes, or paid in cash, at the election of the Company, on a quarterly basis. The 2029 Notes will mature on August 1, 2029, or Maturity Date, unless earlier redeemed, repurchased, or converted.

Holders of the 2029 Notes may convert their 2029 Notes in the following circumstances:

•

From the second anniversary of the Signing Date (as defined in the 2029 notes Indenture) of the 2029 Notes through the business day before the earlier of (x) the maturity date of the 2029 Notes and (y) the date of a Qualified IPO;

•

From the business day after nine months following a the IPO through the business day before maturity date of the 2029 Notes;

•

Upon certain corporate events, including a Fundamental Change or Common Stock Change Event (each as defined in the 2029 Notes Indenture); and

•

If the Company elects to redeem the 2029 Notes in connection with certain tax events.

Following the Company's IPO, if any of the 2029 Notes are converted by the holders thereof, the Company may elect to settle such conversions by paying or delivering, as the case may be, cash, shares of its Class B common stock, or any combination thereof. However, for any conversions that occur before a Qualified IPO, such conversion could only be settled in shares of the Company's common stock. The conversion rate of the 2029 Notes is 40.4858 shares per $1,000 principal amount of 2029 Notes, which is equal to a conversion price of approximately $24.70 per share.

The Company may not redeem the 2029 Notes before the one-year anniversary of the IPO, or the period between the effective date of a Fundamental Change up to the sixty-fifth trading day following the date the Company issues the related Fundamental Change notice, or the Redemption Trigger Date (as defined in the 2029 Notes Indenture) unless it is a redemption in connection with a change in tax law. After the Redemption Trigger Date and before maturity of the 2029 Notes, the Company may redeem some or all of the 2029 Notes if the last reported sale price of its Class B common stock is at least 200% of the conversion price for specified trading-day periods and if certain liquidity conditions are satisfied. The redemption price will equal the principal plus accrued and unpaid interest on the 2029 Notes called for redemption, except that redemptions in connection with certain corporate events will be subject to the Fundamental Change repurchase price as described below. The Company may not redeem less than all of the 2029 Notes if, following such redemption, fewer than $50.0 million aggregate principal amount of the 2029 Notes would remain outstanding

Holders of the 2029 Notes have the right to request the Company to repurchase all or part of the 2029 Notes in cash after the earlier of (i) the fourth anniversary of the issue date of the 2029 Notes and (ii) the third anniversary of the IPO, but prior to 91 days before maturity. The repurchase price includes principal, accrued interest, and a required minimum return based on a 13.50% quarterly compounded rate.

The terms relating to Fundamental Change, negative covenants, and events of default under the 2029 Notes are substantially similar as those governing the 2028 Notes. Refer to 2028 Notes description above for a full summary of these terms.


	2028 Notes			2029 Notes			Total
Fair value as of January 31, 2023	$	420,280		$	-		$	420,280
Change in fair value reported in the Consolidated Statement of Operations		38,575			-			38,575
Change in fair value reported in Consolidated Statement of Comprehensive Loss		13,645			-			13,645
Fair value as of January 31, 2024		472,500			-			472,500
Issuance during the period		-			75,000			75,000
Change in fair value reported in the Consolidated Statement of Operations		94,030			4,597			98,627
Change in fair value reported in Consolidated Statement of Comprehensive Loss		(19,269	)		(236	)		(19,505	)
Fair value as of January 31, 2025		547,261			79,361			626,622
Change in fair value reported in the Consolidated Statement of Operations		27,406			6,850			34,256
Change in fair value reported in Consolidated Statement of Comprehensive Loss		51,981			8,101			60,082
Fair value as of January 31, 2026	$	626,648		$	94,312		$	720,960

Remaining unpaid principal as of January 31, 2026	$	401,000		$	75,000		$	476,000

PIK interest expense included in the fair value changes for the 2028 Notes was $16.5 million, $15.9 million and $15.3 million for the fiscal years ended January 31, 2026, 2025, and 2024, respectively. For the 2029 Notes, PIK interest expense was $2.3 million and $0.8 million for the fiscal years ended January 31, 2026 and 2025, respectively. No interest expense was recorded in the fiscal year ended January 31, 2024.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
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-Subparagraph (d)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Paragraph 1
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
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-URI https://asc.fasb.org/470/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Disclosure Text Block Supplement [Abstract]
Depreciation and amortization	$ 30.1	$ 31.7	$ 28.2

Revenue Recognition

12 Months Ended

Jan. 31, 2026

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Note 4 - Revenue Recognition

Disaggregation of Revenue

Subscription revenue is recognized over time and accounted for 99%, 99% and 98% of the Company's revenue for the fiscal years ended January 31, 2026, 2025, and 2024, respectively.


	Year Ended January 31,
	2026		2025		2024
Americas	$	400,518	$	306,770	$	246,192
Asia Pacific and Japan ("APJ")		131,330		101,175		72,329
Europe, the Middle East, and Africa ("EMEA")		177,149		130,323		88,362
Total revenue	$	708,997	$	538,268	$	406,883

Revenue from the United States, which is included within the Americas region in the table above, was $317.0 million, $250.6 million, and $205.2 million during the fiscal years ended January 31, 2026, 2025, and 2024, respectively.

The following table summarizes revenue from contracts through indirect channels, including channel partners and MSPs, and direct end customers for the periods presented (in thousands):


	Year Ended January 31,
	2026		2025		2024
Indirect channels	$	675,743	$	502,544	$	374,186
Direct end customers		33,254		35,724		32,697
Total revenue	$	708,997	$	538,268	$	406,883

Deferred Revenue

Deferred revenue consists primarily of payments received and accounts receivable recorded in advance of performance under the contract. Such amounts are recognized as revenue over the contractual period. The amount of revenue recognized in the fiscal years ended January 31, 2026, 2025, and 2024, that was included in the deferred revenue at the beginning of the period was $429.8 million, $335.4 million, and 255.4 million, respectively.

Payments are received from customers based upon contractual billing schedules and accounts receivable are recorded when the right to consideration becomes unconditional. Contract assets include amounts related to the Company's contractual right to

consideration for both completed and partially completed performance obligations that may not have been invoiced and such amounts have historically not been material.

The following table summarizes the activity of deferred revenue (in thousands):


	January 31,
	2026			2025
Beginning balance	$	590,307		$	436,931
Additions		794,548			691,644
Recognition of deferred revenue		(708,997	)		(538,268	)
Ending balance	$	675,858		$	590,307

Deferred revenue, current	$	532,732		$	430,156
Deferred revenue, noncurrent		143,126			160,151
Total deferred revenue	$	675,858		$	590,307

Remaining Performance Obligations

Remaining performance obligations represents the amount of contracted future revenue that has not yet been recognized, including both deferred revenue that has been invoiced and non-cancelable committed amounts that will be invoiced and recognized as revenue in future periods.

As of January 31, 2026, the aggregate amount of the transaction price allocated to remaining performance obligations was $1.2 billion. The Company expects to recognize 54% of the remaining performance obligations over the next 12 months and 43% between 13 and 36 months, with the remainder to be recognized thereafter.

Deferred Contract Acquisition Costs

The following table summarizes the activity of deferred contract acquisition costs (in thousands):


	January 31,
	2026			2025
Beginning balance	$	121,665		$	100,747
Capitalization of contract acquisition costs		87,389			66,183
Amortization of deferred contract acquisition costs		(54,208	)		(45,265	)
Ending balance	$	154,846		$	121,665

Deferred contract acquisition costs, current	$	54,048			42,860
Deferred contract acquisition costs, noncurrent		100,798			78,805
Total deferred contract acquisition costs	$	154,846		$	121,665

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
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+ Details

Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Jan. 31, 2026

Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

Note 2 - Basis of Presentation and Summary of Significant Accounting Policies

Basis of Presentation

Fiscal Year

The Company's fiscal year ends on January 31. References to fiscal 2026, 2025, and 2024 refer to the fiscal years ended January 31, 2026, January 31, 2025, and January 31, 2024, respectively.

Emerging Growth Company Status

Use of Estimates

Fair Value of Financial Instruments

Foreign Currency

Concentration of Risk

Concentration of Credit Risk

The Company has not experienced any credit losses relating to its cash, cash equivalents, restricted cash, or marketable securities.

Concentration of Revenue and Accounts Receivable


	Year Ended January 31,
	2026			2025	2024
Channel Partner A(a)		14	%	12%	11%
Channel Partner B	*			*	10%
* Less than 10%

(a) This same channel partner represented approximately 14% of the accounts receivable, net balance as of January 31, 2026.

Concentration of Vendor Risk

Cash, Cash Equivalents, and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash to the total of these amounts shown in the consolidated statements of cash flows (in thousands):


	January 31,
	2026		2025
Cash and cash equivalents	$	432,583	$	166,012
Restricted cash		1,186		1,185
Total cash, cash equivalents, and restricted cash	$	433,769	$	167,197

Marketable Securities

Accounts Receivable and Allowances

Inventories

Property and Equipment, net

Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets, as follows:


		Estimated Useful Life
Data center equipment		5 years
Computers and related equipment		3 years
Capitalized internal-use software		5 years
Furniture and fixtures		3 years
Leasehold improvements		Shorter of useful life or term of lease

Capitalized Internal-Use Software Costs

Capitalized Implementation Costs

Business Combinations

Goodwill and Intangible Assets, Net

Impairment of Long-Lived Assets

Deferred Offering Costs

Operating Leases

Convertible Notes

Revenue Recognition

(1)

Identify the contract(s) with a customer.

(2)

Identify the performance obligations in the contract.

(3)

Determine the transaction price.

None of the Company's contracts contain a significant financing component. The transaction price excludes amounts collected on behalf of third parties, such as sales taxes.

(4)

Allocate the transaction price to performance obligations in the contract.

(5)

Recognize revenue when or as performance obligations are satisfied.

Subscription Revenue

Professional Services Revenue

Hardware Revenue

Arrangements with Multiple Performance Obligations

Sales through Indirect Channels

Deferred Contract Acquisition Costs

Cost of Revenue

Research and Development

Advertising Expenses

Stock-Based Compensation Expense

The fair value of stock options and stock purchase rights under the ESPP is determined on the date of grant by utilizing the Black-Scholes option pricing model using the following assumptions:

•

Income Taxes

Segment and Geographic Information

Net Loss per Share Attributable to Common Stockholders

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements Not Yet Adopted

Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024
Income Tax Disclosure [Abstract]
Beginning Balance	$ 31,357	$ 38,371	$ 25,584
Gross increase for tax positions of prior years	862	2,088	4,874
Gross decrease for tax positions of prior years	(300)	(13,591)	(545)
Gross increases for tax positions of current year	8,332	4,885	8,508
Decrease for lapse of statute of limitations	(323)	(396)	(50)
Ending Balance	$ 39,928	$ 31,357	$ 38,371

Net Loss Per Share Attributable to Common Stockholders (Tables)

12 Months Ended

Jan. 31, 2026

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Loss Per Share

Basic and diluted net loss per share attributable to common stockholders was as follows (in thousands, except share and per share amount):


	Year Ended January 31,
	2026			2025			2024
Numerator:
Net loss attributable to common stockholders	$	(679,388	)	$	(354,510	)	$	(344,852	)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted		213,896,041			97,515,591			91,394,561
Net loss per share attributable to common stockholders, basic and diluted	$	(3.18	)	$	(3.64	)	$	(3.77	)

Schedule of Potentially Dilutive Securities Excluded From The Computation of Net Loss Per Share

The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share because including them would have had an anti-dilutive effect:


	January 31,
	2026		2025		2024
Stock options		50,718,876		58,655,952		71,176,423
Convertible preferred stock		-		218,897,608		218,893,378
Convertible notes		22,136,005		20,879,521		17,598,191
Restricted stock units		48,622,268		40,904,473		26,408,539
Shares subject to repurchase		275,430		708,510		1,297,983
Conversion of stock warrants		-		199,500		204,314
Total		121,752,579		340,245,564		335,578,828

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jan. 31, 2026	Jan. 31, 2025
Preferred stock, shares authorized		218,898,192
Preferred stock, shares issued		218,897,608
Preferred stock, shares outstanding		218,897,608
Common stock, shares issued	0
Common Stock
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	0	416,163,736
Common stock, shares issued	0	104,589,784
Common stock, shares outstanding	0	104,589,784
Convertible Preferred Stock
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	0	218,898,192
Preferred stock, shares issued	0	218,897,608
Preferred stock, shares outstanding	0	218,897,608
Preferred Stock
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	300,000,000	0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A Common Stock
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	3,000,000,000	0
Common stock, shares issued	142,269,483	0
Common stock, shares outstanding	142,269,483	0
Class B Common Stock
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	600,000,000	0
Common stock, shares issued	256,138,777	0
Common stock, shares outstanding	256,113,170	0
Class C Common Stock
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	1,000,000,000	0
Common stock, shares issued	0	0
Common stock, shares outstanding	0	0

Fair Value Measurements (Tables)

12 Months Ended

Jan. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Cash Equivalents and Marketable Securities


	January 31, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash Equivalents		Marketable Securities
Level 1
Money market funds	$	81,237	$	-	$	-		$	81,237	$	79,103	$	2,134
Level 2
Commercial paper		437,817		307		(2	)		438,122		93,817		344,305
Corporate debt securities		228,455		165		(31	)		228,589		-		228,588
Asset-backed securities		23,306		336		-			23,642		-		23,642
Government agency securities		248,751		96		(94	)		248,753		121,820		126,934
Total	$	1,019,566	$	904	$	(127	)	$	1,020,343	$	294,740	$	725,603


	January 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash Equivalents		Marketable Securities
Level 1
Money market funds	$	26,262	$	-	$	-		$	26,262	$	24,369	$	1,903
Level 2
Commercial paper		56,611		10		(3	)		56,618		24,996		31,622
Corporate debt securities		26,940		27		(56	)		26,911		-		26,911
Asset-backed securities		20,344		30		(131	)		20,243		-		20,243
Total	$	130,157	$	67	$	(190	)	$	130,034	$	49,365	$	80,679

Schedule of Investments by Remaining Contractual Maturity Dates

The following table summarizes the fair value of the Company's investments by remaining contractual maturity dates as of January 31, 2026 (in thousands):


	Fair Value
Due within one year	$	461,898
Due between one through five years		263,705
Total	$	725,603

Summary of Quantitative Inputs Considered in the Valuation of Convertible Notes

The following tables summarize the significant quantitative inputs considered in the valuation of Convertible Notes as of January 31, 2026 and 2025:


	January 31, 2026						January 31, 2025
Inputs	2028 Notes			2029 Notes			2028 Notes			2029 Notes
Price per share of common stock	$	14.85		$	14.85		$	12.41		$	12.41
Conversion premium		30.0	%		30.0	%		30.0	%		30.0	%
Risk-free rate		3.6	%		3.7	%		4.3	%		4.3	%
Selected credit spread		10.0	%		10.0	%		13.8	%		13.8	%
Coupon rate		3.8	%		3.0	%		3.8	%		3.0	%
Expected volatility		40.0	%		40.0	%		65.0	%		65.0	%
Time until exit (in years)		-			-			0.7			0.7

Income Taxes - Schedule of Reconciliation between Income Taxes at the Federal Statutory Rate and Provision for Income Taxes (Parenthetical) (Details) $ in Millions	12 Months Ended
	Jan. 31, 2026 USD ($)
Income Tax Disclosure [Abstract]
Excess of income tax expense (benefit)	$ 24.8
Stock-based compensation deduction	$ 30.9

Acquisitions Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	12 Months Ended
	Jan. 31, 2025 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 57,176
Goodwill acquired	3,907
Goodwill, ending balance	$ 61,083

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
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-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 805
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-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

+ Details

Fair Value Measurements - Schedule of Investments by Remaining Contractual Maturity Dates (Details) - USD ($) $ in Thousands	Jan. 31, 2026	Jan. 31, 2025
Fair Value Disclosures [Abstract]
Due within one year	$ 461,898
Due between one through five years	263,705
Total	$ 725,603	$ 80,679

Commitments and Contingencies

12 Months Ended

Jan. 31, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 7 - Commitments and Contingencies

Legal Matters

In the ordinary course of business, the Company may be subject from time to time to various proceedings, lawsuits, disputes, or claims. The Company does not believe that there are any pending or threatened legal proceedings that are likely to have a material adverse effect on its consolidated financial statements, however, the outcomes of litigation and legal matters are inherently unpredictable, and an unfavorable resolution could materially affect the Company's results of operations, financial position or cash flows. Regardless of the outcome, litigation can have an adverse impact on the Company because of defense and settlement costs,

diversion of management resources and other factors. The expense of litigation and the timing of this expense from period to period are difficult to estimate, subject to change and could affect the Company's results of operations.

Indemnification

In the normal course of business, the Company may agree to indemnify third parties with whom it enters into contractual relationships, including customers, lessors and parties to other transactions with the Company, with respect to certain matters. The Company has agreed, under certain conditions, to hold these third parties harmless against specified losses, such as those arising from a breach of representations or covenants, other third-party claims that the Company's products when used for their intended purposes infringe the intellectual property rights of such other third parties, or other claims made against certain parties. It is not possible to determine the potential amount of liability under these indemnification obligations due to the Company's limited history of prior indemnification claims and the unique facts and circumstances that are likely to be involved in each particular claim. In addition, the Company indemnifies its officers, directors, and certain key employees while they are serving in good faith in their respective capacities. As of January 31, 2026, the Company has not incurred any material costs nor recognized any liabilities related to indemnification obligations for any of the periods presented.

Letters of Credit

As of January 31, 2026 and 2025, the Company had $1.2 million outstanding letters of credit in connection with facility leases. The letters of credit are collateralized by restricted cash and mature on various dates through fiscal year 2031.

Stockholders' Equity (Deficit) - Additional Information (Details) - USD ($)	1 Months Ended		12 Months Ended
	Oct. 31, 2022	Jan. 31, 2020	Jan. 31, 2026	Jan. 31, 2025	Jan. 31, 2024	Sep. 30, 2025	Jan. 31, 2023	Aug. 31, 2021	Dec. 31, 2014
Class of Stock [Line Items]
Founder preferred stock issued			3,160,000
Preferred stock, shares authorized				218,898,192
Preferred stock, shares issued				218,897,608
Preferred stock, shares outstanding				218,897,608
Preferred stock dividend rate			8.00%
Preferred stock, conversion basis			Each share of the Company's Senior Preferred Stock and Founders Preferred Stock was convertible, at the option of the holder, and was subject to automatic conversion upon the closing of an IPO, into the number of fully paid and non-assessable shares of common stock, which was calculated by dividing the applicable original issue price per share for the Senior Preferred Stock or $0.0000375 for the Founder Preferred Stock by the applicable conversion price per share on the date that the share certificate is surrendered for conversion.	As of January 31, 2025, the conversion prices per share for all shares of Senior Preferred Stock were equal to the original issue prices, and the rate at which each share would convert into common stock was one-for-one. The conversion prices were subject to adjustment for specified dilutive issuances, stock splits, combinations, and non-cash dividends.
Percentage of preferred stock voting right			60.00%
Common stock, shares issued			0
Warrant Exercise Price Per Share								$ 4.38
Common stock, voting rights			The rights of the holders of Class A common stock, Class B common stock, and Class C common stock are identical, except with respect to voting, conversion, and transfer rights. Each share of Class A common stock is entitled to one vote per share. Each share of Class B common stock is entitled to 20 votes per share and is convertible at any time into one share of Class A common stock. Shares of Class C common stock have no voting rights, except as otherwise required by law.
Share-based compensation vesting description			The options generally vest over four years with 25% of the option shares vesting one year from the service commencement date and then monthly over the following 36 months and expire no more than ten years after the date of grant.
Stock-based compensation			$ 516,444,000	$ 50,927,000	$ 61,444,000
Aggregate Intrinsic Value, Exercised			77,500,000	56,500,000	18,500,000
Total grant date fair value of options vested			$ 77,400	$ 46,400	$ 64,300
Weighted average grant date fair value of stock options granted			$ 8.95	$ 5.82	$ 5.54
Issuance of common stock upon exercise of stock options			$ 35,286,000	$ 35,647,000	$ 9,826,000
Remaining authorized number of shares			0	77,560
Aggregate price of shares held subject to repurchase				$ 500,000
IPO
Class of Stock [Line Items]
Founder preferred stock			3,160,000
Restricted Stock Units
Class of Stock [Line Items]
Total grant date fair value of RSUs			$ 225,000,000	$ 8,500,000	$ 6,400,000
Weighted Average Grant Date Fair Value, Granted			$ 14.97	$ 11.25	$ 10.47
Unrecognized stock-based compensation expense related to unvested RSUs			$ 416,800,000
Unrecognized stock based compensation expense, recognition period			2 years
Performance and Market-Based RSUs
Class of Stock [Line Items]
Stock-based compensation			$ 75,400,000	$ 0	$ 0
Early Exercise of Stock Options
Class of Stock [Line Items]
Issuance of common stock upon exercise of stock options			$ 0	$ 0	$ 0
2012 Stock Incentive Plan
Class of Stock [Line Items]
Share-based compensation, vesting period			4 years
Vesting rights, percentage			25.00%
Share of common stock			127,243,597
Expiration period			10 years
2022 Stock Incentive Plan
Class of Stock [Line Items]
Share-based compensation vesting description	The options generally vest over four years with 25% of the option shares vesting one year from the service begin date and then monthly over the following 36 months and expire no more than 10 years after the date of grant.
Share-based compensation, vesting period	4 years
Vesting rights, percentage	25.00%
Expiration period	10 years
2022 Stock Incentive Plan \| Restricted Stock Units \| Maximum [Member]
Class of Stock [Line Items]
Share-based compensation, vesting period	4 years
2022 Stock Incentive Plan \| Restricted Stock Units \| Minimum [Member]
Class of Stock [Line Items]
Share-based compensation, vesting period	3 years
2025 Employee Stock Purchase Plan \| ESPP
Class of Stock [Line Items]
Initial public offering price			$ 19
Purchase price of common stock, percent			85.00%
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares issued			142,269,483	0
Common stock, par value			$ 0.0001	$ 0.0001
Common stock, shares authorized			3,000,000,000	0
Class A Common Stock \| 2025 Plan
Class of Stock [Line Items]
Common stock, shares reserved for issuance			40,432,311
Increase in number of shares available for issuance			38,210,000
Percentage of outstanding shares of capital stock			5.00%
Class A Common Stock \| 2022 Plan
Class of Stock [Line Items]
Common stock, shares reserved for issuance			38,210,000
Class A Common Stock \| 2025 Employee Stock Purchase Plan
Class of Stock [Line Items]
ESPP shares reserved for issuance						7,650,000
Class A Common Stock \| 2025 Employee Stock Purchase Plan \| ESPP
Class of Stock [Line Items]
Purchase price of common stock, percent			85.00%
Class B Common Stock
Class of Stock [Line Items]
Convertion of stock			218,897,608
Common stock, shares issued			256,138,777	0
Common stock, par value			$ 0.0001	$ 0.0001
Common stock, shares authorized			600,000,000	0
Class C Common Stock
Class of Stock [Line Items]
Common stock, shares issued			0	0
Common stock, par value			$ 0.0001	$ 0.0001
Common stock, shares authorized			1,000,000,000	0
Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized			300,000,000	0
Preferred stock, par value			$ 0.0001	$ 0.0001
Preferred stock, shares issued			0	0
Preferred stock, shares outstanding			0	0
Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Convertion of stock			(218,897,608)
Preferred stock, shares authorized			0	218,898,192
Preferred stock, par value			$ 0.0001	$ 0.0001
Preferred stock, shares issued			0	218,897,608
Preferred stock, shares outstanding			0	218,897,608	218,893,378		218,893,378
Series C Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares issued									4,230
Warrant Exercise Price Per Share									$ 1.45
Series C Preferred Stock \| Maximum [Member]
Class of Stock [Line Items]
Warrant exercise period									10 years
Series C Preferred Stock \| Minimum [Member]
Class of Stock [Line Items]
Warrant exercise period									2 years
Series G Preferred Stock
Class of Stock [Line Items]
Preferred stock warrants issued		$ 30,000,000
Series A Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized				14,545,452
Preferred stock, par value				$ 0.38
Preferred stock, shares issued				14,545,452
Preferred stock, shares outstanding			4,000,000	14,545,452
Series B Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized				21,057,508
Preferred stock, par value				$ 0.76
Preferred stock, shares issued				21,057,508
Preferred stock, shares outstanding			4,800,000	21,057,508
Series C Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized				24,075,348
Preferred stock, par value				$ 1.45
Preferred stock, shares issued				24,074,764					4,814
Preferred stock, shares outstanding			4,800,000	24,074,764
Series G Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized				41,793,107
Preferred stock, par value				$ 8.37
Preferred stock, shares issued				41,793,107
Preferred stock, shares outstanding				41,793,107
Common Stock
Class of Stock [Line Items]
Convertion of stock			218,897,608
Common stock, shares issued			0	104,589,784
Common stock, par value			$ 0.0001	$ 0.0001
Common stock, shares authorized			0	416,163,736
Issuance of common stock upon exercise of stock options			$ 3,000	$ 1,000
Warrants
Class of Stock [Line Items]
Common stock, shares issued			199,500					266,000
Common stock issued warrants in prior period			66,500