0001428336-25-000009 | 10-K | XBRL Viewer

Print Document

Income taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2023
Income Tax Disclosure [Abstract]
Federal income tax provision (benefit) at the statutory rate	$ 24,367	$ 15,759	$ (8,000)
State income tax provision (benefit), net of federal tax provision (benefit)	4,365	5,382	(1,021)
Other non-deductible or non-taxable items, net	1,194	447	225
Excessive employee remuneration	6,782	2,939	3,246
Excess tax (benefit) shortfall on stock-based compensation expense, net	(12,102)	304	(2,479)
Federal research and development credits	(7,955)	(9,202)	(1,341)
Change in uncertain tax position reserves, net of indirect benefits	3,227	6,137	(2,970)
Deferred tax rate adjustment due to state apportionment changes	1,504	(1,039)	(30)
Adjustment from settlement of IRS examination	0	2,461	0
Return-to-provision adjustments	(1,155)	(433)	(38)
Change in valuation allowance	(96)	(3,129)	733
Other items, net	(800)	(298)	(278)
Total income tax provision (benefit)	$ 19,331	$ 19,328	$ (11,953)

Consolidated statements of operations and comprehensive income (loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2023
Revenue
Total revenue	$ 1,199,774	$ 999,587	$ 861,748
Cost of revenue
Total cost of revenue	422,515	376,950	369,813
Gross profit	777,259	622,637	491,935
Operating expenses
Sales and marketing	90,739	79,273	68,849
Technology and development	239,513	218,811	193,375
General and administrative	132,260	103,656	97,472
Amortization of acquired intangible assets	111,878	92,763	94,586
Merger integration	40,535	10,435	28,596
Total operating expenses	614,925	504,938	482,878
Income from operations	162,334	117,699	9,057
Other expense
Interest expense	(60,634)	(55,455)	(48,424)
Other income, net	14,334	12,796	1,271
Total other expense	(46,300)	(42,659)	(47,153)
Income (loss) before income taxes	116,034	75,040	(38,096)
Income tax provision (benefit)	19,331	19,328	(11,953)
Net income (loss)	96,703	55,712	(26,143)
Comprehensive income (loss)	$ 96,703	$ 55,712	$ (26,143)
Net income (loss) per share:
Basic (in usd per share)	$ 1.11	$ 0.65	$ (0.31)
Diluted (in usd per share)	$ 1.09	$ 0.64	$ (0.31)
Weighted-average number of shares used in computing net income (loss) per share:
Basic (in shares)	86,870	85,564	84,442
Diluted (in shares)	88,828	86,957	84,442
Service revenue
Revenue
Total revenue	$ 478,317	$ 455,690	$ 452,026
Cost of revenue
Total cost of revenue	351,588	317,357	318,516
Custodial revenue
Revenue
Total revenue	545,414	386,594	261,282
Cost of revenue
Total cost of revenue	39,675	32,502	26,101
Interchange revenue
Revenue
Total revenue	176,043	157,303	148,440
Cost of revenue
Total cost of revenue	$ 31,252	$ 27,091	$ 25,196

Summary of business and significant accounting policies (Policies)

12 Months Ended

Jan. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Principles of consolidation

The Company consolidates entities in which the Company has a controlling financial interest, which includes all of its wholly owned direct and indirect subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.

Segments

The Company is managed as a single operating segment that provides administration services in connection with HSAs and other CDBs, which reflects the way in which its chief operating decision maker (“CODM”), the Chief Executive Officer, reviews the Company's financial performance and makes decisions about resource allocation. The CODM assesses the performance of the Company, monitors actual financial results against budgets, and makes resource allocation decisions with a focus on the Company’s consolidated results as presented in the consolidated statements of operations and comprehensive income (loss). The Company’s measure of profitability is net income (loss). Single segment-level financial information, including total assets, significant non-cash transactions, and capital expenditures, is contained in the accompanying consolidated financial statements and related notes.

The Company does not generate material international revenues. All long-lived assets are maintained in the United States of America.

Cash and cash equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The Company’s cash and cash equivalents were held in institutions in the U.S. and include deposits in a money market account that was unrestricted as to withdrawal or use.

Client-held funds

Many of the Company's client services agreements with employers (referred to as "Clients") provide that Clients remit funds to the Company to pre-fund Client and employee participant contributions related to flexible spending accounts and health reimbursement arrangements (“FSAs” and “HRAs,” respectively) and commuter accounts. These Client-held funds remitted to the Company do not represent cash assets of the Company to the extent that they are not combined with corporate cash and accordingly are not included in cash and cash equivalents on the Company's consolidated balance sheets.

Accounts receivable

Accounts receivable represent monies due to the Company for monthly service revenue, custodial revenue and interchange revenue. The Company maintains an allowance for doubtful accounts to reserve for expected credit losses from trade receivables considering past events, current conditions, and reasonable and supportable forecasts of future economic conditions. In evaluating the Company’s ability to collect outstanding receivable balances, the Company considers various factors including macroeconomic variables, the age of the balance, the creditworthiness of the customer, which is assessed based on ongoing credit evaluations and payment history, and the customer’s current financial condition.

Other assets

Other assets consist primarily of contract costs, prepaid expenditures, debt issuance costs, income tax receivables, and various other assets. Amounts expected to be recouped or recognized over a period of twelve months or less have been classified as current in the accompanying consolidated balance sheets.

Leases

The Company determines if a contract contains a lease at inception or any modification of the contract. A contract contains a lease if the contract conveys the right to control the use of an identified asset for a specified period in exchange for consideration. Control over the use of the identified asset means the lessee has both (a) the right to obtain substantially all of the economic benefits from the use of the asset and (b) the right to direct the use of the asset.

Leases with an expected term of 12 months or less at commencement are not accounted for on the balance sheet. All operating lease expense is recognized on a straight-line basis over the expected lease term. Certain leases also include obligations to pay for non-lease services, such as utilities and common area maintenance. The services are accounted for separately from lease components, and the Company allocates payments to the lease and other services components based on estimated stand-alone prices.

Operating lease right-of-use ("ROU") assets and liabilities are recognized based on the present value of future minimum lease payments over the expected lease term at commencement date. As the rate implicit in each lease is not readily determinable, management uses the Company’s incremental borrowing rate based on the information available at commencement date in determining the present value of future payments.

Property and equipment

Property and equipment, including leasehold improvements, are stated at cost less accumulated depreciation. Depreciation is determined using the straight-line method over the estimated useful lives of individual assets. The useful life for leasehold improvements is the shorter of the estimated useful life or the term of the lease ranging from 3-5 years. The useful life used for computing depreciation for all other asset classes is described below:


Computer equipment			3-5 years
Furniture and fixtures			5 years

Maintenance and repairs are expensed when incurred, and improvements that extend the economic useful life of an asset are capitalized. Gains and losses on the disposal of property and equipment are reflected in operating expenses.

Intangible assets, net

Intangible assets are carried at cost and amortized, typically, on a straight-line basis over their estimated useful lives. The useful life used for computing amortization for all intangible asset classes is described below:


Software and software development costs			3 years
Acquired customer relationships			7-15 years
Acquired developed technology			2-5 years
Acquired trade names and trademarks			3 years
Acquired HSA portfolios			15 years

The Company accounts for the costs of computer software developed or obtained for internal use in accordance with Accounting Standards Codification (“ASC”) 350-40, Internal-Use Software. Costs incurred during operation and post-implementation stages are charged to expense. Costs incurred during the application development stage that are directly attributable to developing or obtaining software for internal use are capitalized. Management’s judgment is required in determining the point when various projects enter the stages at which costs may be capitalized, in assessing the ongoing value of the capitalized costs and in determining the estimated useful lives over which the costs are amortized.

Acquired customer relationships, developed technology, and trade names and trademarks are valued utilizing the discounted cash flow method, a form of the income approach. The useful lives of acquired customer relationships were estimated based on discount rates and revenue growth rates, net of attrition. The useful lives of developed technology and trade names were estimated based on expected obsolescence. The Company expenses the assets straight-line over the useful lives and determined that this amortization method is appropriate to reflect the pattern over which the economic benefits of these acquired assets are realized.

Acquired HSA portfolios consist of the contractual rights to administer the activities related to the individual HSAs acquired. The Company used its HSA customer relationship period assumption and the historical attrition rates of member accounts to determine that an average useful life of 15 years and the use of a straight-line amortization method are appropriate to reflect the pattern over which the economic benefits of existing member assets are realized.

The Company reviews identifiable amortizable intangible assets to be held and used for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Determination of recoverability is based on the lowest level of identifiable estimated undiscounted cash flows resulting from use of the asset and its eventual disposition. Measurement of any impairment loss is based on the excess of the carrying value of the asset over its fair value.

Goodwill

Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. Goodwill is not amortized but is tested for impairment annually on January 31 or more frequently if events or changes in circumstances indicate that the asset may be impaired. The Company’s impairment tests are based on a single operating segment and reporting unit structure. The goodwill impairment test involves a qualitative assessment to compare a reporting unit's fair value to its carrying value. If it is determined that it is more likely than not that a reporting unit's fair value is less than its carrying value, a quantitative comparison is made between the Company's market capitalization and the carrying value of the reporting unit, including goodwill. If the carrying value of the reporting unit exceeds its fair value, an impairment charge is recognized for the excess of the carrying value of goodwill over its implied fair value.

Self-insurance

The Company is self-insured for medical insurance up to certain annual stop-loss limits. The Company establishes a liability as of the balance sheet date for claims, both reported and incurred but not reported, using currently available information as well as historical claims experience.

Other long-term liabilities

Other long-term liabilities consists of long-term deferred revenue and other liabilities that the Company does not expect to settle within one year.

Revenue recognition

The Company recognizes revenue when control of the promised goods or services is transferred to its customers, in an amount that reflects the consideration it expects to be entitled to in exchange for those goods or services.

The Company determines revenue recognition through the following steps:

•identification of the contract, or contracts, with a customer;

•identification of the performance obligations in the contract;

•determination of the transaction price;

•allocation of the transaction price to the performance obligations in the contract; and

•recognition of revenue when, or as, the Company satisfies a performance obligation.

Disaggregation of revenue. The Company's primary sources of revenue are service, custodial, and interchange revenue and are disclosed in the consolidated statements of operations and comprehensive income (loss). All of the Company's sources of revenue are deemed to be revenue contracts with customers. Each revenue source is affected differently by economic factors as it relates to the nature, amount, timing and uncertainty.

Costs to obtain a contract. ASC 606, Revenue from contracts with customers, requires capitalizing the costs of obtaining a contract when those costs are expected to be recovered.

In order to determine the amortization period for sales commissions contract costs, the Company applied the portfolio approach. Accordingly, the amortization period of the assets has been determined to be the average economic life of an HSA or other CDB relationship, which is estimated to be 15 years and 7 years, respectively. Amortization of capitalized sales commission contract costs is included in sales and marketing expenses in the consolidated statements of operations and comprehensive income (loss). The Company has applied the practical expedient which allows an entity to account for incremental costs of obtaining a contract at a portfolio level. The Company has also applied the practical expedient to recognize incremental costs of obtaining contracts as an expense when incurred if the amortization period would have been one year or less.

Performance obligations. ASC 606 requires disclosure of the aggregate amount of the transaction price allocated to unsatisfied performance obligations; however, as permitted by ASC 606, the Company has elected to exclude from this disclosure any contracts with an original duration of one year or less and any variable consideration that meets specified criteria.

Service revenue. The Company administers its platforms, prepares statements, provides a mechanism for spending funds, and provides customer support services. In addition, once a member’s HSA cash balance reaches a certain threshold, the member is able to invest his or her HSA assets through the Company's investment partner from which the Company earns recordkeeping and advisory fees, calculated as a percentage of the member's HSA investments. All of these services are consumed as they are received. The Company recognizes service revenue, in an amount that reflects the consideration it expects to be entitled to in exchange for those services, on a monthly basis as it satisfies its performance obligations.

Custodial revenue. The Company earns custodial revenue primarily from HSA assets deposited with depository partners or placed in group annuity contracts or similar arrangements with insurance company partners and Client-held funds deposited with depository partners. The placement of funds represents a service that is simultaneously received and consumed by the depository partners and insurance company partners. The Company recognizes custodial revenue each month, in an amount that reflects the consideration it expects to be entitled to in exchange for the service.

Interchange revenue. The Company satisfies its interchange performance obligation each time payments are made with its cards via payment networks. The Company recognizes interchange revenue, in an amount that reflects the consideration it expects to be entitled to in exchange for the service, in the month the payment transaction occurs.

Contract balances. The Company does not recognize revenue until its right to consideration is unconditional and therefore has no related contract assets. The Company records a receivable when revenue is recognized prior to payment and the Company has unconditional right to payment. Alternatively, when payment precedes the related services, the Company records a contract liability, or deferred revenue, until its performance obligations are satisfied.

Significant judgments. The Company makes no significant judgments in determining the amount or timing of revenue recognition. The Company has estimated the average economic life of an HSA or CDB customer relationship, which has been determined to be the amortization period for capitalized sales commissions and other contract costs.

Cost of revenue

The Company incurs cost of revenue related to servicing member accounts, managing customer and partner relationships, and processing reimbursement claims. Expenditures include personnel-related costs, depreciation, amortization, stock-based compensation, common expense allocations, new member and participant supplies, and other operating costs of the member account servicing departments. Other components of the Company’s cost of revenue include interest retained by members on custodial assets held and interchange costs incurred in connection with processing card transactions initiated by members.

Stock-based compensation

The Company grants restricted stock units ("RSUs") to certain team members, executive officers, and directors. Historically, the Company also granted stock options and restricted stock awards ("RSAs"). The Company recognizes compensation expense for stock-based awards based on the grant date estimated fair value. Expense for stock-based awards is generally recognized on a straight-line basis over the requisite service period and is reversed as pre-vesting forfeitures occur. The fair value of RSUs is based on the current value of the Company's closing stock price on the date of grant less the present value of future expected dividends discounted at the risk-free interest rate.

For stock-based awards with performance conditions, the Company evaluates the probability of achieving the performance criteria and of the number of shares that are expected to vest, and compensation expense is then adjusted to reflect the number of shares expected to vest and recorded over the requisite service period. For awards with performance conditions, compensation expense is recognized using the graded-vesting attribution method in accordance with the provisions of ASC 718, Compensation—Stock Compensation ("Topic 718"). Compensation expense related to stock-based awards with market conditions is recorded on a straight-line basis over the requisite service period regardless of whether the market condition is satisfied.

Upon the exercise of a stock option or release of an RSU, common shares are issued from authorized, but not outstanding, common stock.

Interest expense

Interest expense consists primarily of accrued interest expense and amortization of deferred financing costs associated with the Company's long-term debt.

Income tax provision (benefit)

The Company accounts for income taxes and the related accounts under the asset and liability method as set forth in ASC 740, Income Taxes. Under this method, current tax liabilities and assets are recognized for the estimated taxes payable or refundable on the tax returns for the current fiscal year. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, for net operating losses, and for tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted statutory tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be realized or settled. The effect on deferred tax assets and liabilities of changes in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided for when it is more likely than not that some or all of the deferred tax assets may not be realized in future years.

The Company recognizes the tax benefit from an uncertain tax position taken or expected to be taken in a tax return using a two-step approach. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that it is more likely than not that the tax position will be sustained upon examination by the relevant taxing authorities, based on the technical merits of the position. For tax positions that are more likely than not to be sustained upon audit, the second step is to measure the tax benefit in the financial statements as the largest benefit that has a greater than 50% likelihood of being sustained upon settlement. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits as a component of other income, net in the consolidated statements of operations and comprehensive income (loss). Changes in facts and circumstances could have a material impact on the Company’s effective tax rate and results of operations.

Asset acquisitions and Business combinations

Asset acquisitions

The Company routinely acquires rights to be the custodian of HSA portfolios, in which substantially all of the fair value of the gross portfolio assets acquired is concentrated in a group of similar HSA assets and therefore the acquisitions do not constitute a business. Accordingly, the acquisitions are accounted for under the asset acquisition method of accounting in accordance with ASC 805-50, Business Combinations—Related Issues. Under the asset acquisition method of accounting, the Company is required to fair value the assets transferred. The cost of the assets acquired, including transaction costs incurred in conjunction with an asset acquisition, is allocated to the individual assets acquired based on their relative fair values and does not give rise to goodwill.

Business combinations

Consideration paid for the acquisition of a business as defined by ASC 805-10 is allocated to the tangible and intangible assets acquired and liabilities assumed based on their fair values as of the acquisition date.

Acquisition-related expenses incurred in conjunction with the acquisition of a business are recognized in earnings in the period in which they are incurred and are included in other income, net on the consolidated statements of operations and comprehensive income (loss).

Use of estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management has made estimates for the allowance for doubtful accounts, capitalized software development costs, evaluating goodwill and long-lived assets for impairment, useful lives of property and equipment and intangible assets, accrued compensation, accrued liabilities, grant date fair value of performance restricted stock units, and income taxes. Actual results could differ from those estimates.

Recently adopted accounting pronouncements and Recently issued accounting pronouncements not yet adopted

Recently adopted accounting pronouncements

In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit or loss, an amount and description of other segment items, interim disclosure of a reportable segment’s profit or loss and assets, the title and position of the CODM, and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. The ASU requires public companies with a single reportable segment to provide the segment disclosures required by Topic 280. The Company adopted ASU 2023-07 during the fiscal year ended January 31, 2025. The adoption of this guidance did not have a material impact to our consolidated financial statements or disclosures given our consolidated statements of operations and comprehensive income (loss) already include disclosure of our significant segment expenses that are regularly provided to our CODM.

Recently issued accounting pronouncements not yet adopted

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which improves the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the effective tax rate reconciliation and income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. This guidance will be effective for annual periods beginning after December 15, 2024. Early adoption is permitted. Upon adoption, the guidance can be applied prospectively or retrospectively. We are currently evaluating the ASU to determine its impact on our income tax disclosures; however, the impact is not expected to be material.

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The ASU requires disaggregated information about certain income statement expense line items on an annual and interim basis. This guidance will be effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The new standard permits early adoption and can be applied prospectively or retrospectively. We are evaluating the effect that this guidance will have on our consolidated financial statements and related disclosures.

Fair Value

Fair value measurements are made at a specific point in time, based on relevant market information. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most

advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Accounting standards specify a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs have created the following fair value hierarchy:

•Level 1—quoted prices in active markets for identical assets or liabilities;

•Level 2—inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

•Level 3—unobservable inputs based on the Company’s own assumptions.

Stockholders' equity (Tables)

12 Months Ended

Jan. 31, 2025

Equity [Abstract]

Schedule of Common Stock Repurchased and Subsequently Retired

The following table sets forth the common stock repurchased and subsequently retired during the periods presented:


	Year ended January 31,
	2025			2024
(in thousands)	Shares	Amount		Shares	Amount
Common stock repurchases (1)	1,361	$	122,247	—	$	—

(1)Shares repurchased include unsettled repurchases as of January 31, 2025.

Summary of business and significant accounting policies - Intangible Assets (Details)	Jan. 31, 2025
Software and software development costs
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	3 years
Acquired customer relationships \| Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	7 years
Acquired customer relationships \| Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	15 years
Acquired developed technology \| Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	2 years
Acquired developed technology \| Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	5 years
Acquired trade names and trademarks
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	3 years
Acquired HSA portfolios
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	15 years

Leases - Narrative (Details)	12 Months Ended
Leases - Narrative (Details)	Jan. 31, 2025 extension
Lessee, Lease, Description [Line Items]
Lessee, operating lease, number of extensions (in years)	1
Minimum
Lessee, Lease, Description [Line Items]
Remaining operating lease terms (in years)	1 year
Lease renewal terms extension (in years)	5 years
Maximum
Lessee, Lease, Description [Line Items]
Remaining operating lease terms (in years)	6 years
Lease renewal terms extension (in years)	10 years

Summary of business and significant accounting policies - Narrative (Details)	12 Months Ended
	Jan. 31, 2025 segment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of operating segments	1
Leasehold Improvements \| Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Useful life of property, plant and equipment (in years)	3 years
Leasehold Improvements \| Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Useful life of property, plant and equipment (in years)	5 years
HSA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Capitalized contract cost, amortization period (in years)	15 years
RA Customer Relationship
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Capitalized contract cost, amortization period (in years)	7 years

- 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 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476173/280-10-65-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476173/280-10-65-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 9
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-9

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 9
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-9

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483550/848-10-65-1

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479832/842-10-65-8

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479832/842-10-65-8

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 50
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477123/405-50-65-1

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482477/820-10-65-13

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482477/820-10-65-13

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-5

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-5

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-5

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-5

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 43: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 44: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 45: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 46: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 47: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 48: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480528/815-20-65-6

Reference 49: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479845/805-20-65-3

Reference 50: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479845/805-20-65-3

Reference 51: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479845/805-20-65-3

Reference 52: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479832/842-10-65-5

Reference 53: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 54: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 55: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 56: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 57: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479343/105-10-65-6

Reference 58: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 59: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 60: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 61: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 62: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 63: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 64: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 65: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 66: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 67: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 68: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480016/944-40-65-2

Reference 69: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480530/250-10-S99-5

Reference 70: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 71: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 72: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 73: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-8

Reference 74: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482615/740-10-65-8

Reference 75: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 76: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 77: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479654/326-10-65-4

Reference 78: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483194/926-20-65-2

Reference 79: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483194/926-20-65-2

Reference 80: http://www.xbrl.org/2003/role/disclosureRef
-Topic 926
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483194/926-20-65-2

Reference 81: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 82: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 83: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 84: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 85: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482635/260-10-55-15

Reference 86: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483421/250-10-45-6

Reference 87: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 88: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 89: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 90: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 91: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 92: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 93: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 94: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 95: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 96: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 97: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 98: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480424/946-10-50-3

Reference 99: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1

Reference 100: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1

+ Details

Stockholders' equity

12 Months Ended

Jan. 31, 2025

Equity [Abstract]

Stockholders' equity

Stock repurchase program

In September 2024, the Company announced that its Board of Directors authorized a common stock repurchase program. Under the program, the Company may purchase up to $300 million of its common stock, as market conditions warrant. The common stock may be repurchased at prices that the Company deems appropriate and subject to market conditions, applicable law and other factors deemed relevant in the Company's sole discretion. Such repurchases may be effected through open market purchases, privately negotiated transactions or otherwise, including repurchase plans that satisfy the conditions of Rule 10b5-1 under the Securities Exchange Act of 1934. The stock repurchase program does not obligate the Company to repurchase any dollar amount or number of shares of common stock, and the program may be suspended or discontinued at any time.

The following table sets forth the common stock repurchased and subsequently retired during the periods presented:


	Year ended January 31,
	2025			2024
(in thousands)	Shares	Amount		Shares	Amount
Common stock repurchases (1)	1,361	$	122,247	—	$	—

(1)Shares repurchased include unsettled repurchases as of January 31, 2025.

All repurchases were made in open market transactions. The excess of repurchase price over par value was allocated between additional paid-in capital and retained earnings. As of January 31, 2025, $177.8 million of common stock remained authorized for repurchase under the Company's stock repurchase program.

Adequacy of net worth

In February 2006, HealthEquity received designation by the U.S. Department of Treasury to act as a passive non-bank custodian, which allows HealthEquity to hold custodial assets for individual account holders. On July 24, 2017, HealthEquity received designation by the U.S. Department of Treasury to act as both a passive and non-passive non-bank custodian, which allows HealthEquity to hold custodial assets for individual account holders and use discretion to direct investment of such assets held. As a passive and non-passive non-bank custodian according to Treasury Regulations section 1.408-2(e)(5)(ii)(B), the Company must maintain net worth (assets minus liabilities) greater than the sum of 2% of passive custodial funds held at each fiscal year-end and 4% of the non-passive custodial funds held at each fiscal year-end in order to take on additional custodial assets. As of January 31, 2025, the Company's year-end for trust and tax purposes, the net worth of the Company exceeded the required thresholds.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

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

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: 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 5: 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 6: 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 7: 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 8: 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 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-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

Stock-based compensation - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Number of options
Outstanding, beginning balance (in shares)	726
Exercised (in shares)	(356)
Forfeited (in shares)	(1)
Outstanding, ending balance (in shares)	369	726
Vested and expected to vest (in shares)	369
Exercisable (in shares)	369
Range of exercise prices
Beginning balance, minimum (in usd per share)	$ 14.00
Beginning balance, maximum (in usd per share)	73.61
Exercised, minimum (in usd per share)	14.00
Exercised, maximum (in usd per share)	73.61
Forfeited, minimum (in usd per share)	25.45
Forfeited, maximum (in usd per share)	25.45
Ending balance, minimum (in usd per share)	21.27	$ 14.00
Ending balance, maximum (in usd per share)	73.61	73.61
Weighted- average exercise price
Opening balance (in usd per share)	36.91
Exercised (in usd per share)	25.33
Forfeited (in usd per share)	25.45
Ending balance (in usd per share)	48.13	$ 36.91
Vested and expected to vest, weighted-average exercise price (in usd per share)	48.13
Exercisable, weighted-average exercise price (in usd per share)	$ 48.13
Outstanding stock options, weighted-average contractual term (in years)	2 years 6 months	2 years 6 months
Vested and expected to vest, weighted-average contractual term (in years)	2 years 6 months
Exercisable, weighted-average contractual term (in years)	2 years 6 months
Aggregate intrinsic value	$ 22,957	$ 28,067
Vested and expected to vest, aggregate intrinsic value	22,957
Exercisable, aggregate intrinsic value	$ 22,957

Summary of business and significant accounting policies - Property and Equipment (Details)	Jan. 31, 2025
Computer equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)	3 years
Computer equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)	5 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)	5 years

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Jan. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Leases

12 Months Ended

Jan. 31, 2025

Leases [Abstract]

Leases

The Company has entered into various non-cancelable operating lease agreements for office space, data storage facilities, and other leases with remaining lease terms of approximately 1 to 6 years, often with one or more Company options to renew. These renewal terms can extend the lease term from 5 to 10 years and are included in the lease term when it is reasonably certain that the Company will exercise the option.

The components of operating lease expense were as follows:


	Year ended January 31,
(in thousands)	2025		2024		2023
Operating lease expense	$	9,125	$	9,437	$	11,371
Sublease income	(4,097)		(2,680)		(2,187)
Net operating lease expense	$	5,028	$	6,757	$	9,184

Weighted average lease term and discount rate were as follows:


	January 31, 2025		January 31, 2024
Weighted average remaining lease term	5.7 years		6.7 years
Weighted average discount rate	4.4	%	4.3	%

Lease liabilities were as follows:


(in thousands)	January 31, 2025		January 31, 2024
Gross lease liabilities	$	59,209	$	67,269
Less: imputed interest	(6,989)		(9,099)
Present value of lease liabilities	52,220		58,170
Less: current portion of lease liabilities	(10,001)		(9,404)
Lease liabilities, non-current	$	42,219	$	48,766

Supplemental cash flow information related to the Company's operating leases was as follows:


	Year ended January 31,
(in thousands)	2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	9,874	$	10,900
Right-of-use assets obtained in exchange for lease obligations	$	1,469	$	2,109

Net income (loss) per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2023
Numerator (basic and diluted):
Net income (loss)	$ 96,703	$ 55,712	$ (26,143)
Denominator (basic):
Weighted-average common shares outstanding (in shares)	86,870	85,564	84,442
Denominator (diluted):
Weighted-average common shares outstanding (in shares)	86,870	85,564	84,442
Weighted-average dilutive effect of stock options and restricted stock units (in shares)	1,958	1,393	0
Diluted weighted-average common shares outstanding (in shares)	88,828	86,957	84,442
Net income (loss) per share:
Basic (in usd per share)	$ 1.11	$ 0.65	$ (0.31)
Diluted (in usd per share)	$ 1.09	$ 0.64	$ (0.31)
Antidilutive securities excluded from computation of earnings per share (in shares)	100	600	2,500

Supplemental financial statement information

12 Months Ended

Jan. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental financial statement information

Selected consolidated balance sheet and consolidated statement of operations and comprehensive income (loss) components consisted of the following:

Allowance for doubtful accounts

As of January 31, 2025 and 2024, the Company had an allowance for doubtful accounts of $2.1 million and $3.9 million, respectively. During the fiscal years ended January 31, 2025, 2024, and 2023, the Company recorded credit losses from trade receivables of $0.2 million, $1.7 million, and $2.1 million, respectively.

Prepaid expenses

As of January 31, 2025 and 2024, the Company had prepaid expenses of $32.5 million and $31.2 million, respectively, which are included within other current assets on the Company's consolidated balance sheets.

Costs to obtain a contract

As of January 31, 2025 and 2024, the net amount capitalized as contract costs was $60.3 million and $52.1 million, respectively, which is included in other current assets and other assets. Amortization of capitalized contract costs during the fiscal years ended January 31, 2025, 2024, and 2023 was $6.7 million, $5.4 million, and $4.4 million, respectively.

Property and equipment

Property and equipment consisted of the following as of January 31, 2025 and 2024:


(in thousands)	January 31, 2025		January 31, 2024
Leasehold improvements	$	13,966	$	14,455
Furniture and fixtures	6,708		7,087
Computer equipment	19,218		25,489
Property and equipment, gross	39,892		47,031
Accumulated depreciation	(36,653)		(41,018)
Property and equipment, net	$	3,239	$	6,013

Depreciation expense for the fiscal years ended January 31, 2025, 2024 and 2023 was $4.6 million, $8.8 million and $12.3 million, respectively.

Contract balances

As of January 31, 2025 and 2024, the balance of deferred revenue was $17.1 million and $6.2 million, respectively. The balance as of January 31, 2025 relates primarily to a contract with a depository partner, which the Company assumed in conjunction with the BenefitWallet HSA portfolio acquisition, as described in Note 5—Intangible assets and goodwill. The remainder of the balances as of January 31, 2025 and 2024 relates to cash received in advance for interchange and custodial revenue arrangements, other up-front fees and other commuter deferred revenue. The Company expects to recognize approximately 70% of its balance of deferred revenue as revenue over the next 12 months and the remainder thereafter. Amounts expected to be recognized as revenue within a period of twelve months or less are classified as accrued liabilities in the Company's consolidated balance sheets, with the remainder included within other long-term liabilities. Revenue recognized during the fiscal year that was included in the beginning balance of deferred revenue was $4.8 million. The Company expects to satisfy its remaining obligations for these arrangements.

Other income, net

Other income, net, consisted of the following:


	Year ended January 31,
(in thousands)	2025		2024		2023
Interest income	$	13,914	$	12,138	$	1,763
Acquisition costs	—		—		(53)
Other miscellaneous income (expense)	420		658		(439)
Total other income, net	$	14,334	$	12,796	$	1,271

Interest expense

Based on the application of ASC 470-50, Debt - Modifications and Extinguishments, the Company recorded debt extinguishment losses of $1.6 million and $1.2 million during the fiscal years ended January 31, 2025 and 2024, respectively, which are included within interest expense in the consolidated statements of operations and comprehensive income (loss).

Leases - Lease Liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Jan. 31, 2024
Leases [Abstract]
Gross lease liabilities	$ 59,209	$ 67,269
Less: imputed interest	(6,989)	(9,099)
Present value of lease liabilities	52,220	58,170
Less: current portion of lease liabilities	(10,001)	(9,404)
Lease liabilities, non-current	$ 42,219	$ 48,766

Income taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income taxes - Narrative (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2023
Operating Loss Carryforwards [Line Items]
Effective income tax benefit rate	16.70%	25.80%	31.40%
Deferred tax asset, valuation allowance	$ 1,066	$ 1,164
Decrease in valuation allowance	100
Gross unrecognized tax benefit	24,140	19,213	$ 8,690
Unrecognized tax benefits that would impact the effective tax rate	20,900	16,200
Period increase in unrecognized tax benefit	4,900
Unrecognized tax benefits, income tax penalties and interest expense	600	100	$ 400
Unrecognized tax benefits, income tax penalties and interest accrued	2,000	$ 1,400
State
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	18,500
State \| Research
Operating Loss Carryforwards [Line Items]
Credit carryforward	$ 13,600

Commitments and contingencies

12 Months Ended

Jan. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Commitments and contingencies

Commitments

The following table summarizes the payments due by fiscal year for the Company's outstanding contractual obligations as of January 31, 2025:


	Payments due by fiscal year
(in thousands)	2026		2027		2028		2029		2030		Thereafter		Total
4.50% Senior Notes due 2029 (1)	$	—	$	—	$	—	$	—	$	600,000	$	—	$	600,000
Revolving Credit Facility (1)	—		—		—		—		461,875		—		461,875
Interest on long-term debt obligations (2)	54,679		54,679		54,679		54,755		31,422		—		250,214
Operating lease obligations (3)	10,245		10,159		10,323		10,553		10,789		7,139		59,208
Other contractual obligations (4)	30,927		26,172		12,176		1,163		247		—		70,685
Total	$	95,851	$	91,010	$	77,178	$	66,471	$	1,104,333	$	7,139	$	1,441,982

(1)As of January 31, 2025, the outstanding combined principal of $1,061.9 million is presented net of debt issuance costs on the consolidated balance sheets. The debt issuance costs are not included in the table above.

(2)Estimated interest payments assume the stated interest rates applicable to the Notes and Revolving Credit Facility as of January 31, 2025, which were 4.50% and 5.91% per annum, respectively.

(3)The Company leases office space and data storage facilities and has other non-cancelable operating leases expiring at various dates through 2030. These amounts exclude contractual sublease income of $17.6 million, which is expected to be received through December 2030.

(4)Other contractual obligations consist of processing services agreements, software subscriptions, and other contractual commitments.

Contingencies

In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and provide for general indemnifications. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future but have not yet been made. The Company accrues a liability for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated.

Legal matters

In April 2021, WageWorks, Inc. ("WageWorks"), a wholly owned subsidiary of the Company, exercised its right to terminate a lease for office space in Mesa, Arizona that had not yet commenced, with aggregate lease payments of $63.1 million and a term of approximately 11 years, following the landlord's failure to fulfill its obligations under the lease agreement (the "Lease"). WageWorks' right to terminate the Lease was disputed by the landlord, Union Mesa 1, LLC (“Union Mesa”), which claimed that the Lease had commenced on December 1, 2020. On November 5, 2021, Union Mesa notified WageWorks that it was in default of the Lease for failure to pay rent, which Union Mesa claimed was due beginning in November 2021, after 11 months of abated rent. On November 24, 2021, Union Mesa

drew $2.8 million, the full amount under the letter of credit that WageWorks had posted to secure its obligations under the Lease.

On December 1, 2021, WageWorks filed a lawsuit against Union Mesa in the Maricopa County Superior Court in the State of Arizona. On January 4, 2022, WageWorks filed an amended complaint, seeking a declaratory judgment that the Lease was properly terminated and recourse against Union Mesa for breach of contract, breach of the duty of good faith and fair dealing, and conversion, including return of the funds drawn under the letter of credit. On November 27, 2024, the parties agreed to settle the lawsuit, with Union Mesa retaining the $2.8 million from the letter of credit and HealthEquity and WageWorks agreeing to pay an additional $30.0 million to Union Mesa. The $30.0 million settlement amount was recorded as merger integration expense and paid during the fiscal year ended January 31, 2025. The $2.8 million letter of credit was previously recorded as merger integration expense during the period in which it was drawn by Union Mesa.

As a result of a cybersecurity incident earlier in 2024 in which a business partner's user account containing personally identifiable information was breached, the Company is subject to multiple legal actions, including a consolidated putative class action lawsuit in federal court in the District of Utah, an individual lawsuit filed in Florida state court, and a mass arbitration action. The plaintiffs in these legal actions allege that the Company failed to implement reasonable data security practices, which resulted in a breach and disclosure of plaintiffs' and others' personally identifiable information and protected health information. The plaintiffs are seeking, among other damages, unspecified monetary damages, equitable relief, costs and attorneys' fees arising out of the incident. With respect to the consolidated putative class action lawsuit, on August 22, 2024, the court issued an order granting a motion to consolidate the class action lawsuits, on October 15, 2024, a consolidated class action amended complaint was filed, and on December 13, 2024, the Company filed a motion to dismiss the class action and a motion to compel arbitration. The Company intends to vigorously defend these legal actions. In addition, the Company is subject to several regulatory inquiries related to the cybersecurity incident. The amount of the potential loss associated with these lawsuits and any potential regulatory action cannot be reasonably estimated based on currently available information.

The Company and its subsidiaries are involved in various other litigation, governmental proceedings and claims, not described above, that arise in the normal course of business. It is not possible to determine the ultimate outcome or the duration of such litigation, governmental proceedings or claims, or the impact that such litigation, proceedings and claims will have on the Company’s financial position, results of operations, and cash flows.

As required under GAAP, the Company records a provision for contingent losses when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Except with respect to the settlement of the Lease litigation, described above, no loss accrual relating to these matters was recorded because, based on currently available information, the Company does not believe that any contingent liabilities relating to these matters are probable or that the amount of any resulting loss is estimable. However, litigation is subject to inherent uncertainties and the Company’s view of these matters may change. Were an unfavorable outcome to occur, there exists the possibility of a material adverse impact on the Company’s financial position, results of operations and cash flows for the period in which the unfavorable outcome occurs, and potentially in future periods.

Intangible assets and goodwill - Narrative (Details)	12 Months Ended
Intangible assets and goodwill - Narrative (Details)	Jan. 31, 2025 USD ($) tranche	Jan. 31, 2024 USD ($)	Jan. 31, 2023 USD ($)	May 31, 2024 USD ($)
Finite-Lived Intangible Assets [Line Items]
Number of transfers \| tranche	3
Amortization of Intangible Assets	$ 157,800,000	$ 144,300,000	$ 148,900,000
Goodwill impairment	0	0	$ 0
Change in goodwill	0	0
Acquired HSA portfolios
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, acquired	472,600,000	$ 3,300,000
Custodial revenue
Finite-Lived Intangible Assets [Line Items]
Deferred revenue				$ 20,300,000
BenefitWallet HSA Portfolio
Finite-Lived Intangible Assets [Line Items]
Asset acquisition, transferred, transaction cost	27,200,000
Expense reimbursement	$ 20,000,000
Percentage of assets deposited with third party	7.00%

Stock-based compensation (Tables)

12 Months Ended

Jan. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation

The following table shows a summary of stock-based compensation in the Company's consolidated statements of operations and comprehensive income (loss) during the fiscal years presented:


	Year ended January 31,
(in thousands)	2025		2024		2023
Cost of revenue	$	14,955	$	16,462	$	13,591
Sales and marketing	15,623		13,182		9,821
Technology and development	25,002		20,891		13,828
General and administrative	40,845		26,616		25,374
Total stock-based compensation expense	$	96,425	$	77,151	$	62,614

The following table shows stock-based compensation by award type:


	Year ended January 31,
(in thousands)	2025		2024		2023
Restricted stock units	$	66,986	$	60,688	$	46,590
Performance restricted stock units	29,439		16,384		15,120
Stock options	—		79		882
Restricted stock awards	—		—		22
Total stock-based compensation expense	$	96,425	$	77,151	$	62,614

Schedule of Stock Option Activity

A summary of stock option activity is as follows:


	Stock options
(in thousands, except for exercise prices and term)	Number of options	Range of exercise prices	Weighted- average exercise price		Weighted- average contractual term (in years)	Aggregate intrinsic value
Outstanding as of January 31, 2024	726	$14.00 - 73.61	$	36.91	2.5	$	28,067
Exercised	(356)	$14.00 - 73.61	$	25.33
Forfeited	(1)	$25.45 - 25.45	$	25.45
Outstanding as of January 31, 2025	369	$21.27 - 73.61	$	48.13	2.5	$	22,957
Vested and expected to vest as of January 31, 2025	369		$	48.13	2.5	$	22,957
Exercisable as of January 31, 2025	369		$	48.13	2.5	$	22,957

Schedule of Restricted Stock Unit Activity

A summary of RSU and PRSU activity is as follows:


	RSUs and PRSUs
(in thousands, except weighted-average grant date fair value)	Shares	Weighted-average grant date fair value
Outstanding as of January 31, 2024	3,363	$	67.96
Granted	1,146	86.07
Vested	(1,400)	64.17
Forfeited	(227)	70.33
Outstanding as of January 31, 2025	2,882	$	76.82

Employee benefits (Details) - USD ($)	12 Months Ended
Employee benefits (Details) - USD ($)	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2023
Defined Contribution Plan Disclosure [Line Items]
Maximum coverage per incident under self-insurance	$ 600,000
Accrued Compensation
Defined Contribution Plan Disclosure [Line Items]
Liability for self-insured medical claims	$ 5,200,000	$ 4,700,000
Supplemental Employee Retirement Plan \| 401(k)
Defined Contribution Plan Disclosure [Line Items]
Percent of employees eligible earnings (as a percent)	3.50%
Employer matching contribution expense	$ 8,400,000	$ 8,700,000	$ 8,000,000.0

Consolidated balance sheets - USD ($) $ in Thousands	Jan. 31, 2025	Jan. 31, 2024
Current assets
Cash and cash equivalents	$ 295,948	$ 403,979
Accounts receivable, net of allowance for doubtful accounts of $2,070 and $3,947 as of January 31, 2025 and 2024, respectively	118,006	104,893
Other current assets	63,795	48,564
Total current assets	477,749	557,436
Property and equipment, net	3,239	6,013
Operating lease right-of-use assets	43,185	48,380
Intangible assets, net	1,204,658	835,948
Goodwill	1,648,145	1,648,145
Other assets	71,574	67,868
Total assets	3,448,550	3,163,790
Current liabilities
Accounts payable	14,361	12,041
Accrued compensation	69,330	49,608
Accrued liabilities	62,631	46,038
Operating lease liabilities	10,001	9,404
Total current liabilities	156,323	117,091
Long-term liabilities
Long-term debt, net of issuance costs	1,056,301	874,972
Operating lease liabilities, non-current	42,219	48,766
Other long-term liabilities	22,962	19,270
Deferred tax liability	55,834	68,670
Total long-term liabilities	1,177,316	1,011,678
Total liabilities	1,333,639	1,128,769
Commitments and contingencies (see Note 6)
Stockholders’ equity
Preferred stock, $0.0001 par value, 100,000 shares authorized, no shares issued and outstanding as of January 31, 2025 and 2024	0	0
Common stock, $0.0001 par value, 900,000 shares authorized, 86,536 and 86,127 shares issued and outstanding as of January 31, 2025 and 2024, respectively	9	9
Additional paid-in capital	1,905,628	1,829,384
Accumulated earnings	209,274	205,628
Total stockholders’ equity	2,114,911	2,035,021
Total liabilities and stockholders’ equity	$ 3,448,550	$ 3,163,790

Indebtedness (Tables)

12 Months Ended

Jan. 31, 2025

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt consisted of the following:


(in thousands)	January 31, 2025		January 31, 2024
4.50% Senior Notes due 2029	$	600,000	$	600,000
Revolving Credit Facility	461,875		—
Prior Term Loan Facility	—		286,875
Principal amount	1,061,875		886,875
Less: unamortized discount and issuance costs (1)	5,574		11,903
Total debt, net	1,056,301		874,972
Less: current portion of long-term debt	—		—
Long-term debt, net	$	1,056,301	$	874,972

(1)In addition to the $5.6 million and $11.9 million of unamortized discount and issuance costs related to long-term debt as of January 31, 2025 and 2024, respectively, $7.7 million and $2.5 million of unamortized issuance costs related to the Company's Revolving Credit Facility and Prior Revolving Credit Facility (as defined below) are included within other assets on the consolidated balance sheets as of January 31, 2025 and January 31, 2024, respectively.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Employee benefits	12 Months Ended
Employee benefits	Jan. 31, 2025
Retirement Benefits [Abstract]
Employee benefits	Employee benefits The Company has established a 401(k) plan that qualifies as a deferred compensation arrangement under Section 401 of the IRS Code. All non-seasonal team members over the age of 18 are eligible to participate in the plan. The plan provides for Company matching of employee contributions up to 3.5% of eligible earnings. Employer matching contribution expense was $8.4 million, $8.7 million and $8.0 million for the fiscal years ended January 31, 2025, 2024 and 2023, respectively. The Company is self-insured for medical and dental benefits for all qualifying employees. The medical plan carries a stop-loss policy which will protect from individual claims during the plan year exceeding $600,000. The Company records estimates of costs of claims incurred based on an analysis of historical data and independent estimates. The Company's liability for self-insured medical claims is included in accrued compensation in its consolidated balance sheet and was $5.2 million and $4.7 million as of January 31, 2025 and 2024, respectively.

Fair value	12 Months Ended
Fair value	Jan. 31, 2025
Fair Value Disclosures [Abstract]
Fair value	Fair value Fair value measurements are made at a specific point in time, based on relevant market information. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Accounting standards specify a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs have created the following fair value hierarchy: •Level 1—quoted prices in active markets for identical assets or liabilities; •Level 2—inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and •Level 3—unobservable inputs based on the Company’s own assumptions. Cash and cash equivalents are considered Level 1 instruments and are valued based on publicly available daily net asset values. The carrying values of cash and cash equivalents approximate fair values due to the short-term nature of these instruments. The Notes are valued based upon quoted market prices and are considered Level 2 instruments because the markets in which the Notes trade are not considered active markets. As of January 31, 2025, the fair value of the Notes was $567.0 million. The Revolving Credit Facility is considered a Level 2 instrument and recorded at book value in the Company's consolidated financial statements. The Revolving Credit Facility reprices frequently due to variable interest rate terms and entails no significant changes in credit risk. As a result, the fair value of the Revolving Credit Facility approximates carrying value.

- 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Intangible assets and goodwill - Schedule of Transfers to HealthEquity (Details) - BenefitWallet HSA Portfolio hSA in Thousands, $ in Thousands				2 Months Ended
	May 09, 2024 USD ($) hSA	Apr. 11, 2024 USD ($) hSA	Mar. 07, 2024 USD ($) hSA	May 09, 2024 USD ($) hSA
Finite-Lived Intangible Assets [Line Items]
Number of HSAs transferred \| hSA	216	134	266	616
Health savings account (HSA) assets, transferred amount	$ 1,047,000	$ 555,000	$ 1,071,000	$ 2,673,000
Paid using cash on hand	1,101	34,925	163,974	200,000
Paid using borrowings under the Prior Revolving Credit Facility	175,000	50,000	0	225,000
Total purchase price	$ 176,101	$ 84,925	$ 163,974	$ 425,000

- 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

Intangible assets and goodwill (Tables)

12 Months Ended

Jan. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Transfers to HealthEquity

The transfer closed in a series of three tranches, as follows:


	Transfers to HealthEquity			Applicable purchase price
(in thousands, except HSA Assets)	HSAs	HSA Assets (in millions)		Paid using cash on hand		Paid using borrowings under the Prior Revolving Credit Facility		Total purchase price
March 7, 2024	266	$	1,071	$	163,974	$	—	$	163,974
April 11, 2024	134	555		34,925		50,000		84,925
May 9, 2024	216	1,047		1,101		175,000		176,101
Total	616	$	2,673	$	200,000	$	225,000	$	425,000

Schedule of Finite-Lived Intangible Assets

The useful life used for computing amortization for all intangible asset classes is described below:


Software and software development costs			3 years
Acquired customer relationships			7-15 years
Acquired developed technology			2-5 years
Acquired trade names and trademarks			3 years
Acquired HSA portfolios			15 years

The gross carrying amount and associated accumulated amortization of intangible assets were as follows:


	January 31, 2025
(in thousands)	Gross carrying amount		Accumulated amortization		Net carrying amount
Amortizable intangible assets:
Software and software development costs	$	312,234	$	(234,102)	$	78,132
Acquired HSA portfolios	737,011		(124,606)		612,405
Acquired customer relationships	759,782		(256,820)		502,962
Acquired developed technology	132,825		(121,666)		11,159
Acquired trade names	12,900		(12,900)		—
Total amortizable intangible assets	$	1,954,752	$	(750,094)	$	1,204,658


	January 31, 2024
(in thousands)	Gross carrying amount		Accumulated amortization		Net carrying amount
Amortizable intangible assets:
Software and software development costs	$	267,498	$	(197,388)	$	70,110
Acquired HSA portfolios	264,445		(81,059)		183,386
Acquired customer relationships	759,782		(205,127)		554,655
Acquired developed technology	132,825		(105,049)		27,776
Acquired trade names	12,900		(12,879)		21
Total amortizable intangible assets	$	1,437,450	$	(601,502)	$	835,948

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated amortization expense for the fiscal years ending January 31 is as follows:


Year ending January 31, (in thousands)
2026	$	146,511
2027	129,812
2028	111,644
2029	98,155
2030	97,130
Thereafter	621,406
Total	$	1,204,658

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 96,703	$ 55,712	$ (26,143)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-11

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-4

Reference 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-10

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Supplemental financial statement information - Property and Equipment (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Jan. 31, 2024
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 39,892	$ 47,031
Accumulated depreciation	(36,653)	(41,018)
Property and equipment, net	3,239	6,013
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	13,966	14,455
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	6,708	7,087
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 19,218	$ 25,489

Indebtedness

12 Months Ended

Jan. 31, 2025

Debt Disclosure [Abstract]

Indebtedness

Long-term debt consisted of the following:


(in thousands)	January 31, 2025		January 31, 2024
4.50% Senior Notes due 2029	$	600,000	$	600,000
Revolving Credit Facility	461,875		—
Prior Term Loan Facility	—		286,875
Principal amount	1,061,875		886,875
Less: unamortized discount and issuance costs (1)	5,574		11,903
Total debt, net	1,056,301		874,972
Less: current portion of long-term debt	—		—
Long-term debt, net	$	1,056,301	$	874,972

4.50% Senior Notes due 2029

On October 8, 2021, the Company completed its offering of $600 million aggregate principal amount of its 4.50% Senior Notes due 2029 (the “Notes”). The Notes were issued under an indenture (the “Indenture”), dated October 8, 2021, among the Company, the guarantors party thereto, and Wells Fargo Bank, National Association, as trustee.

The Notes are guaranteed by each of the Company’s existing, wholly owned domestic subsidiaries that guarantees its obligations under the Credit Agreement (as defined below) and are required to be guaranteed by any of the Company’s future subsidiaries that guarantee its obligations under the Credit Agreement or certain of its other indebtedness. The Notes will mature on October 1, 2029. Interest on the Notes is payable on April 1 and October 1 of each year. As of January 31, 2025, the balance of accrued interest on the Notes was $9.0 million, which is included within accrued liabilities on the Company's consolidated balance sheets. The effective interest rate on the Notes is 4.72%.

The Notes are unsecured senior obligations of the Company and rank equally in right of payment to all of its existing and future senior unsecured debt and senior in right of payment to all of its future subordinated debt.

The Notes are redeemable at the Company’s option, in whole or in part, at any time on or after October 1, 2024, at a redemption price if redeemed during the 12 months beginning (i) October 1, 2024 of 102.250%, (ii) October 1, 2025 of 101.125%, and (iii) October 1, 2026 and thereafter of 100.000%, in each case of the principal amount of the Notes being redeemed, and together with accrued and unpaid interest, if any, to, but excluding, the date of redemption. The Company may be required to make an offer to purchase the Notes upon the sale of certain assets or upon specific kinds of changes of control.

The Indenture contains covenants that impose significant operational and financial restrictions on the Company; however, these covenants generally align with the covenants contained in the Credit Agreement. See "Credit Agreement" below for a description of these covenants.

Credit Agreement

On August 23, 2024, the Company entered into a Credit Agreement (the “Credit Agreement”) among the Company, as borrower, each lender from time to time party thereto (the “Lenders”), JPMorgan Chase Bank, N.A., as administrative agent and the Swing Line Lender (as defined in the Credit Agreement), and each L/C Issuer (as defined therein) party thereto, pursuant to which the Company established a new five-year senior secured revolving credit facility (the “Revolving Credit Facility”) in an aggregate principal amount of up to $1.0 billion (with a $25 million sub-limit for the issuance of letters of credit). The Company borrowed $511.9 million under the Revolving Credit Facility to refinance the Prior Credit Agreement (as defined below). The Revolving Credit Facility may be used in the future for working capital and general corporate purposes, including the financing of acquisitions and other investments. As of January 31, 2025, the outstanding balance under the Revolving Credit Facility was $461.9 million, which is included within long-term debt, net of issuance costs, on the consolidated balance sheet. The maturity date of the Revolving Credit Facility is August 23, 2029.

Subject to the terms and conditions set forth in the Credit Agreement (including obtaining additional commitments from one or more new or existing lenders), the Company may in the future incur additional loans or commitments under the Credit Agreement in an aggregate principal amount of up to $450 million, plus an additional amount so long as the Company’s pro forma first lien net leverage ratio would not exceed 3.85 to 1.00 as of the date such loans or commitments are incurred.

Borrowings under the Revolving Credit Facility bear interest at an annual rate equal to, at the Company’s option, either (i) the secured overnight financing rate published by the CME Group Benchmark Administration Limited (“Term SOFR”) (subject to a 0.10% “credit spread adjustment”) plus a margin ranging from 1.25% to 2.50% or (ii) an alternate base rate plus a margin ranging from 0.25% to 1.50%, with the applicable margin determined by reference to a leverage-based pricing grid set forth in the Credit Agreement. The Company is also required to pay certain fees to the Lenders, including, among others, a quarterly commitment fee on the average unused amount of the Revolving Credit Facility at a rate ranging from 0.25% to 0.50%, with the applicable rate also determined by reference to a leverage-based pricing grid set forth in the Credit Agreement. As of January 31, 2025, the interest rate on the Revolving Credit Facility was 5.91%.

The loans under the Revolving Credit Facility may be prepaid, and the commitments thereunder may be reduced by the Company without penalty or premium, subject to the reimbursement of customary “breakage costs.”

The Credit Agreement contains customary affirmative and negative covenants, including covenants that limit, among other things, the ability of the Company and its subsidiaries to incur additional indebtedness, create liens, merge or dissolve, make investments, dispose of assets, engage in sale and leaseback transactions, make

distributions and dividends and prepayments of junior indebtedness, engage in transactions with affiliates, enter into restrictive agreements, amend documentation governing junior indebtedness, modify its fiscal year and modify its organizational documents, in each case, subject to customary exceptions, thresholds, qualifications and “baskets.” In addition, the Credit Agreement contains financial performance covenants, which require the Company to maintain (i) a maximum total net leverage ratio, measured as of the last day of each fiscal quarter, of no greater than 5.00 to 1.00 beginning with the fiscal quarter ended January 31, 2025, and (ii) a minimum consolidated interest coverage ratio, measured as of the last day of each fiscal quarter, of no less than 3.00 to 1.00 beginning with the fiscal quarter ended January 31, 2025. The Company was in compliance with all covenants under the Credit Agreement as of January 31, 2025 and for the period then ended.

The repayment obligation under the Credit Agreement may be accelerated upon the occurrence of an event of default thereunder, including, among other things, failure to pay principal, interest or fees on a timely basis, material inaccuracy of any representation or warranty, failure to comply with covenants, cross-default to other material debt, material judgments, change of control and certain insolvency or bankruptcy-related events, in each case, subject to any certain grace and/or cure periods.

The Company’s obligations under the Credit Agreement are required to be unconditionally guaranteed by each of its existing or subsequently acquired or organized direct and indirect domestic subsidiaries and are secured by security interests in substantially all assets of the Company and the guarantors, in each case, subject to certain customary exceptions.

Prior Credit Agreement

On October 8, 2021, the Company entered into a credit agreement (as amended, the “Prior Credit Agreement”) among the Company, as borrower, each lender from time to time party thereto (the “Prior Lenders”), JPMorgan Chase Bank, N.A., as administrative agent and the Swing Line Lender (as defined in the Prior Credit Agreement), and each L/C Issuer (as defined therein) party thereto, pursuant to which the Company established:

(i) a five-year senior secured term loan A facility (the “Prior Term Loan Facility”), in an aggregate principal amount of $350 million; and

(ii) a five-year senior secured revolving credit facility (the “Prior Revolving Credit Facility” and, together with the Prior Term Loan Facility, the “Prior Credit Facilities”), in an aggregate principal amount of up to $1.0 billion (with a $25 million sub-limit for the issuance of letters of credit).

Prior to June 1, 2023, borrowings under the Prior Credit Facilities bore interest at an annual rate equal to, at the option of the Company, either (i) LIBOR (adjusted for reserves) plus a margin ranging from 1.25% to 2.25% or (ii) an alternate base rate plus a margin ranging from 0.25% to 1.25%, with the applicable margin determined in either scenario by reference to a leverage-based pricing grid set forth in the Prior Credit Agreement.

On June 1, 2023, the Company entered into an amendment to the Prior Credit Agreement which replaced interest rate provisions based on LIBOR with the forward-looking term rate based on Term SOFR. As a result, borrowings under the Prior Credit Agreement as so amended bore interest at an annual rate equal to, at the option of the Company, either (i) Term SOFR, plus a 0.10% credit spread adjustment, plus a margin ranging from 1.25% to 2.25%, or (ii) an alternate base rate, plus a margin ranging from 0.25% to 1.25%, with the applicable margin determined in either scenario by reference to a leverage-based pricing grid set forth in the Prior Credit Agreement (as amended).

The Company was also required to pay certain fees to the Prior Lenders, including, among others, a quarterly commitment fee on the average unused amount of the Prior Revolving Credit Facility at a rate ranging from 0.20% to 0.40%, with the applicable rate also determined by reference to a leverage-based pricing grid set forth in the Prior Credit Agreement.

On August 23, 2024, in connection with the entry into the Credit Agreement, the Company repaid all outstanding obligations in the amount of $511.9 million under the Prior Credit Agreement and terminated all commitments thereunder.

- 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 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Net income (loss) per share

12 Months Ended

Jan. 31, 2025

Earnings Per Share [Abstract]

Net income (loss) per share

The following table sets forth the computation of basic and diluted net income (loss) per share:


	Year ended January 31,
(in thousands, except per share data)	2025		2024		2023
Numerator (basic and diluted):
Net income (loss)	$	96,703	$	55,712	$	(26,143)
Denominator (basic):
Weighted-average common shares outstanding	86,870		85,564		84,442
Denominator (diluted):
Weighted-average common shares outstanding	86,870		85,564		84,442
Weighted-average dilutive effect of stock options and restricted stock units	1,958		1,393		—
Diluted weighted-average common shares outstanding	88,828		86,957		84,442
Net income (loss) per share:
Basic	$	1.11	$	0.65	$	(0.31)
Diluted	$	1.09	$	0.64	$	(0.31)

For the fiscal years ended January 31, 2025, 2024 and 2023, 0.1 million, 0.6 million, and 2.5 million shares, respectively, attributable to outstanding stock options and restricted stock units were excluded from the calculation of diluted net income (loss) per share as their inclusion would have been anti-dilutive.

Commitments and contingencies - Narrative (Details) - WageWorks Inc. - USD ($) $ in Millions			12 Months Ended
	Nov. 27, 2024	Nov. 05, 2021	Jan. 31, 2025	Nov. 24, 2021	Apr. 30, 2021
Loss Contingencies [Line Items]
Lease payments, not yet commenced					$ 63.1
Operating lease not yet commenced term of contract (in years)					11 years
Union Mesa
Loss Contingencies [Line Items]
Lessee, operating lease, abated rent, period		11 months
Letters of credit outstanding	$ 2.8			$ 2.8
Litigation settlement, amount awarded to other party	$ 30.0		$ 30.0

- 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.

+ References + Details

Summary of business and significant accounting policies

12 Months Ended

Jan. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of business and significant accounting policies

Business

HealthEquity, Inc. ("HealthEquity" or the "Company") was incorporated in the state of Delaware on September 18, 2002. HealthEquity is a leader in administering health savings accounts (“HSAs”) and complementary consumer-directed benefits (“CDBs”), which empower consumers to access tax-advantaged healthcare savings while also providing corporate tax advantages for employers.

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, or GAAP. The financial statements and notes are representations of the Company's management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States and have been consistently applied in the preparation of the consolidated financial statements.

Principles of consolidation

Segments

The Company does not generate material international revenues. All long-lived assets are maintained in the United States of America.

Cash and cash equivalents

Client-held funds

Accounts receivable

Other assets

Leases

Property and equipment


Computer equipment			3-5 years
Furniture and fixtures			5 years

Intangible assets, net


Software and software development costs			3 years
Acquired customer relationships			7-15 years
Acquired developed technology			2-5 years
Acquired trade names and trademarks			3 years
Acquired HSA portfolios			15 years

Goodwill

Self-insurance

Other long-term liabilities

Other long-term liabilities consists of long-term deferred revenue and other liabilities that the Company does not expect to settle within one year.

Revenue recognition

The Company determines revenue recognition through the following steps:

•identification of the contract, or contracts, with a customer;

•identification of the performance obligations in the contract;

•determination of the transaction price;

•allocation of the transaction price to the performance obligations in the contract; and

•recognition of revenue when, or as, the Company satisfies a performance obligation.

Costs to obtain a contract. ASC 606, Revenue from contracts with customers, requires capitalizing the costs of obtaining a contract when those costs are expected to be recovered.

Cost of revenue

Stock-based compensation

Upon the exercise of a stock option or release of an RSU, common shares are issued from authorized, but not outstanding, common stock.

Interest expense

Interest expense consists primarily of accrued interest expense and amortization of deferred financing costs associated with the Company's long-term debt.

Other income, net

Other income, net, consists of interest income earned on corporate cash and other miscellaneous income and expense.

Income tax provision (benefit)

Asset acquisitions

Business combinations

Use of estimates

Recently adopted accounting pronouncements

Recently issued accounting pronouncements not yet adopted

Income taxes (Tables)

12 Months Ended

Jan. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The income tax provision (benefit) consisted of the following:


	Year ended January 31,
(in thousands)	2025		2024		2023
Current:
Federal	$	25,949	$	29,376	$	3,260
State	6,211		3,947		1,968
Total current tax provision	$	32,160	$	33,323	$	5,228
Deferred:
Federal	$	(11,886)	$	(11,004)	$	(14,382)
State	(943)		(2,991)		(2,799)
Total deferred tax benefit	$	(12,829)	$	(13,995)	$	(17,181)
Total income tax provision (benefit)	$	19,331	$	19,328	$	(11,953)

Schedule of Effective Income Tax Rate Reconciliation

Total income tax provision (benefit) differed from the amounts computed by applying the U.S. federal statutory tax rate to income before income taxes as a result of the following:


	Year ended January 31,
(in thousands)	2025		2024		2023
Federal income tax provision (benefit) at the statutory rate	$	24,367	$	15,759	$	(8,000)
State income tax provision (benefit), net of federal tax provision (benefit)	4,365		5,382		(1,021)
Other non-deductible or non-taxable items, net	1,194		447		225
Excessive employee remuneration	6,782		2,939		3,246
Excess tax (benefit) shortfall on stock-based compensation expense, net	(12,102)		304		(2,479)
Federal research and development credits	(7,955)		(9,202)		(1,341)
Change in uncertain tax position reserves, net of indirect benefits	3,227		6,137		(2,970)
Deferred tax rate adjustment due to state apportionment changes	1,504		(1,039)		(30)
Adjustment from settlement of IRS examination	—		2,461		—
Return-to-provision adjustments	(1,155)		(433)		(38)
Change in valuation allowance	(96)		(3,129)		733
Other items, net	(800)		(298)		(278)
Total income tax provision (benefit)	$	19,331	$	19,328	$	(11,953)

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities consisted of the following:


(in thousands)	January 31, 2025		January 31, 2024
Deferred tax assets:
Net operating loss carryforward	$	1,120	$	1,730
Stock compensation	11,937		14,069
Research and development credits	4,160		3,796
Lease liabilities	13,245		14,371
Capitalized research and development	53,238		33,474
Fixed assets	1,083		939
Accruals and reserves	5,099		3,557
Other, net	6,632		1,937
Total gross deferred tax assets	$	96,514	$	73,873
Less valuation allowance	(1,066)		(1,164)
Deferred tax assets, net of valuation allowance	95,448		72,709
Deferred tax liabilities:
Intangible assets	(84,120)		(86,195)
Incremental contract costs	(15,282)		(12,887)
Right-of-use assets	(10,926)		(11,949)
Goodwill	(38,205)		(28,691)
Other, net	(2,749)		(1,657)
Total gross deferred tax liabilities	(151,282)		(141,379)
Net deferred tax liabilities	$	(55,834)	$	(68,670)

Schedule of Unrecognized Tax Benefits Roll Forward

A tabular reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:


(in thousands)	January 31, 2025		January 31, 2024
Gross unrecognized tax benefits at beginning of year	$	19,213	$	8,690
Gross amounts of increases and decreases:
Increases as a result of tax positions taken during a prior period	1,004		9,325
Increases as a result of tax positions taken during the current period	5,076		3,386
Decreases as a result of settlement	—		(1,030)
Decreases resulting from the lapse of the applicable statute of limitations	(1,153)		(1,158)
Gross unrecognized tax benefits at end of year	$	24,140	$	19,213

Schedule of Unrecognized Tax Benefit Netted Against Deferred Tax Asset

The resulting unrecognized tax benefit recorded within the Company's consolidated balance sheet excludes the following amounts that have been netted against the related deferred tax assets accordingly:


(in thousands)	January 31, 2025		January 31, 2024
Total gross unrecognized tax benefits	$	24,140	$	19,213
Amounts netted against related deferred tax assets	(8,363)		(7,186)
Unrecognized tax benefits recorded on the consolidated balance sheet	$	15,777	$	12,027

Summary of business and significant accounting policies (Tables)

12 Months Ended

Jan. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Estimated Useful Life of Property and Equipment

The useful life used for computing depreciation for all other asset classes is described below:


Computer equipment			3-5 years
Furniture and fixtures			5 years

Property and equipment consisted of the following as of January 31, 2025 and 2024:


(in thousands)	January 31, 2025		January 31, 2024
Leasehold improvements	$	13,966	$	14,455
Furniture and fixtures	6,708		7,087
Computer equipment	19,218		25,489
Property and equipment, gross	39,892		47,031
Accumulated depreciation	(36,653)		(41,018)
Property and equipment, net	$	3,239	$	6,013

Schedule of Useful Lives of Intangible Assets

The useful life used for computing amortization for all intangible asset classes is described below:


Software and software development costs			3 years
Acquired customer relationships			7-15 years
Acquired developed technology			2-5 years
Acquired trade names and trademarks			3 years
Acquired HSA portfolios			15 years

The gross carrying amount and associated accumulated amortization of intangible assets were as follows:


	January 31, 2025
(in thousands)	Gross carrying amount		Accumulated amortization		Net carrying amount
Amortizable intangible assets:
Software and software development costs	$	312,234	$	(234,102)	$	78,132
Acquired HSA portfolios	737,011		(124,606)		612,405
Acquired customer relationships	759,782		(256,820)		502,962
Acquired developed technology	132,825		(121,666)		11,159
Acquired trade names	12,900		(12,900)		—
Total amortizable intangible assets	$	1,954,752	$	(750,094)	$	1,204,658


	January 31, 2024
(in thousands)	Gross carrying amount		Accumulated amortization		Net carrying amount
Amortizable intangible assets:
Software and software development costs	$	267,498	$	(197,388)	$	70,110
Acquired HSA portfolios	264,445		(81,059)		183,386
Acquired customer relationships	759,782		(205,127)		554,655
Acquired developed technology	132,825		(105,049)		27,776
Acquired trade names	12,900		(12,879)		21
Total amortizable intangible assets	$	1,437,450	$	(601,502)	$	835,948

Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2023
Leases [Abstract]
Operating lease expense	$ 9,125	$ 9,437	$ 11,371
Sublease income	(4,097)	(2,680)	(2,187)
Net operating lease expense	$ 5,028	$ 6,757	$ 9,184
Weighted average remaining lease term	5 years 8 months 12 days	6 years 8 months 12 days
Weighted average discount rate	4.40%	4.30%

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Jan. 31, 2025	Mar. 11, 2025	Jul. 31, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jan. 31, 2025
Current Fiscal Year End Date	--01-31
Document Transition Report	false
Entity File Number	001-36568
Entity Registrant Name	HEALTHEQUITY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-2383166
Entity Address, Address Line One	15 West Scenic Pointe Drive
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Draper
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84020
City Area Code	801
Local Phone Number	727-1000
Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	HQY
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 5.3
Entity Common Stock, Shares Outstanding		86,496,449
Documents Incorporated by Reference	Portions of the Registrant's definitive proxy statement related to its 2025 annual meeting of stockholders (the "2025 Proxy Statement") are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. The 2025 Proxy Statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
Entity Central Index Key	0001428336
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
Amendment Flag	false

Intangible assets and goodwill

12 Months Ended

Jan. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets and goodwill

BenefitWallet HSA portfolio acquisition

During the fiscal year ended January 31, 2025, the Company acquired the BenefitWallet HSA portfolio from Conduent Business Services, LLC ("Conduent"). The transfer closed in a series of three tranches, as follows:


	Transfers to HealthEquity			Applicable purchase price
(in thousands, except HSA Assets)	HSAs	HSA Assets (in millions)		Paid using cash on hand		Paid using borrowings under the Prior Revolving Credit Facility		Total purchase price
March 7, 2024	266	$	1,071	$	163,974	$	—	$	163,974
April 11, 2024	134	555		34,925		50,000		84,925
May 9, 2024	216	1,047		1,101		175,000		176,101
Total	616	$	2,673	$	200,000	$	225,000	$	425,000

The acquisition was accounted for as an asset acquisition, and related acquisition costs were capitalized as part of the cost of the asset, which is included within intangible assets, net, on the Company's consolidated balance sheet. The Company capitalized $27.2 million of transaction costs associated with the acquisition during the fiscal year ended January 31, 2025, which includes the reimbursement of $20.0 million of Conduent's transfer-related expenses. In addition, in May 2024, the Company assumed a contract with a depository partner representing approximately 7% of the total HSA Assets added through the acquisition, which provides a custodial yield that is below current market rates and expires in June 2026. The Company recorded deferred revenue of $20.3 million in May 2024 as a result of the assumed contract, which will be recorded as an increase to custodial revenue over the life of the assumed contract.

Intangible assets

The gross carrying amount and associated accumulated amortization of intangible assets were as follows:


	January 31, 2025
(in thousands)	Gross carrying amount		Accumulated amortization		Net carrying amount
Amortizable intangible assets:
Software and software development costs	$	312,234	$	(234,102)	$	78,132
Acquired HSA portfolios	737,011		(124,606)		612,405
Acquired customer relationships	759,782		(256,820)		502,962
Acquired developed technology	132,825		(121,666)		11,159
Acquired trade names	12,900		(12,900)		—
Total amortizable intangible assets	$	1,954,752	$	(750,094)	$	1,204,658


	January 31, 2024
(in thousands)	Gross carrying amount		Accumulated amortization		Net carrying amount
Amortizable intangible assets:
Software and software development costs	$	267,498	$	(197,388)	$	70,110
Acquired HSA portfolios	264,445		(81,059)		183,386
Acquired customer relationships	759,782		(205,127)		554,655
Acquired developed technology	132,825		(105,049)		27,776
Acquired trade names	12,900		(12,879)		21
Total amortizable intangible assets	$	1,437,450	$	(601,502)	$	835,948

During the fiscal years ended January 31, 2025 and 2024, the Company capitalized $472.6 million and $3.3 million, respectively, to acquire the rights to act as a custodian of HSA portfolios.

Amortization expense for the fiscal years ended January 31, 2025, 2024, and 2023 was $157.8 million, $144.3 million and $148.9 million, respectively. Estimated amortization expense for the fiscal years ending January 31 is as follows:


Year ending January 31, (in thousands)
2026	$	146,511
2027	129,812
2028	111,644
2029	98,155
2030	97,130
Thereafter	621,406
Total	$	1,204,658

Goodwill

The Company’s annual goodwill impairment test resulted in no impairment charges in any of the periods presented in the accompanying consolidated financial statements. There were no changes to the carrying value of goodwill during the fiscal years ended January 31, 2025 or 2024.

Indebtedness - Narrative (Details)					12 Months Ended
Indebtedness - Narrative (Details)	Aug. 23, 2024 USD ($)	Jun. 01, 2023	May 31, 2023	Oct. 08, 2021 USD ($)	Jan. 31, 2025 USD ($)
4.50% Senior Notes due 2029
Debt Instrument [Line Items]
Stated interest rate (as a percent)					4.50%
4.50% Senior Notes due 2029 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)				4.50%
Principal amount				$ 600,000,000
Accrued interest					$ 9,000,000.0
Effective interest rate (as a percent)					4.72%
4.50% Senior Notes due 2029 \| Senior Notes \| October 1, 2024
Debt Instrument [Line Items]
Redemption price (as a percent)				102.25%
4.50% Senior Notes due 2029 \| Senior Notes \| October 1, 2025
Debt Instrument [Line Items]
Redemption price (as a percent)				101.125%
4.50% Senior Notes due 2029 \| Senior Notes \| October 1, 2026 and thereafter
Debt Instrument [Line Items]
Redemption price (as a percent)				100.00%
Credit Agreement
Debt Instrument [Line Items]
Stated interest rate (as a percent)					5.91%
Maximum borrowing capacity of future commitments	$ 450,000,000
Maximum leverage ratio	3.85				5.00
Minimum interest coverage ratio					3.00
Credit Agreement \| Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Credit spread adjustment on variable rate (as a percent)	0.10%
Credit Agreement \| Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR) \| Minimum
Debt Instrument [Line Items]
Variable rate borrowing spread (as a percent)	1.25%
Credit Agreement \| Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR) \| Maximum
Debt Instrument [Line Items]
Variable rate borrowing spread (as a percent)	2.50%
Credit Agreement \| Revolving Credit Facility \| Customary Base Rate \| Minimum
Debt Instrument [Line Items]
Variable rate borrowing spread (as a percent)	0.25%
Credit Agreement \| Revolving Credit Facility \| Customary Base Rate \| Maximum
Debt Instrument [Line Items]
Variable rate borrowing spread (as a percent)	1.50%
Credit Agreement \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Facility term (in years)	5 years
Credit facility, amount	$ 1,000,000,000
Proceeds from Lines of Credit	$ 511,900,000
Long-Term Line of Credit					$ 461,900,000
Credit Agreement \| Line of Credit \| Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Unused capacity commitment fee	0.25%
Credit Agreement \| Line of Credit \| Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Unused capacity commitment fee	0.50%
Credit Agreement \| Letter of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, amount	$ 25,000,000
Prior Credit Agreement
Debt Instrument [Line Items]
Repayments of debt	$ 511,900,000
Prior Credit Agreement \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Credit spread adjustment on variable rate (as a percent)		0.10%
Prior Credit Agreement \| Secured Overnight Financing Rate (SOFR) \| Minimum
Debt Instrument [Line Items]
Variable rate borrowing spread (as a percent)		1.25%
Prior Credit Agreement \| Secured Overnight Financing Rate (SOFR) \| Maximum
Debt Instrument [Line Items]
Variable rate borrowing spread (as a percent)		2.25%
Prior Credit Agreement \| Customary Base Rate \| Minimum
Debt Instrument [Line Items]
Variable rate borrowing spread (as a percent)		0.25%	0.25%
Prior Credit Agreement \| Customary Base Rate \| Maximum
Debt Instrument [Line Items]
Variable rate borrowing spread (as a percent)		1.25%	1.25%
Prior Credit Agreement \| London Interbank Offered Rate \| Minimum
Debt Instrument [Line Items]
Variable rate borrowing spread (as a percent)			1.25%
Prior Credit Agreement \| London Interbank Offered Rate \| Maximum
Debt Instrument [Line Items]
Variable rate borrowing spread (as a percent)			2.25%
Prior Credit Agreement \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Facility term (in years)				5 years
Credit facility, amount				$ 1,000,000,000
Prior Credit Agreement \| Line of Credit \| Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Commitment fee (as a percent)					0.20%
Prior Credit Agreement \| Line of Credit \| Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Commitment fee (as a percent)					0.40%
Prior Credit Agreement \| Letter of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, amount				$ 25,000,000
Prior Credit Agreement \| Secured Debt \| Prior Term Loan Facility
Debt Instrument [Line Items]
Facility term (in years)				5 years
Credit facility, amount				$ 350,000,000

Income taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Unrecognized Tax Benefits [Roll Forward]
Gross unrecognized tax benefits at beginning of year	$ 19,213	$ 8,690
Increases as a result of tax positions taken during a prior period	1,004	9,325
Increases as a result of tax positions taken during the current period	5,076	3,386
Decreases as a result of settlement	0	(1,030)
Decreases resulting from the lapse of the applicable statute of limitations	(1,153)	(1,158)
Gross unrecognized tax benefits at end of year	24,140	19,213
Total gross unrecognized tax benefits	24,140	19,213
Amounts netted against related deferred tax assets	(8,363)	(7,186)
Unrecognized tax benefits recorded on the consolidated balance sheet	$ 15,777	$ 12,027

Audit Information	12 Months Ended
Audit Information	Jan. 31, 2025
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Salt Lake City, Utah
Auditor Firm ID	238

Net income (loss) per share (Tables)

12 Months Ended

Jan. 31, 2025

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of basic and diluted net income (loss) per share:


	Year ended January 31,
(in thousands, except per share data)	2025		2024		2023
Numerator (basic and diluted):
Net income (loss)	$	96,703	$	55,712	$	(26,143)
Denominator (basic):
Weighted-average common shares outstanding	86,870		85,564		84,442
Denominator (diluted):
Weighted-average common shares outstanding	86,870		85,564		84,442
Weighted-average dilutive effect of stock options and restricted stock units	1,958		1,393		—
Diluted weighted-average common shares outstanding	88,828		86,957		84,442
Net income (loss) per share:
Basic	$	1.11	$	0.65	$	(0.31)
Diluted	$	1.09	$	0.64	$	(0.31)

Stock-based compensation

12 Months Ended

Jan. 31, 2025

Share-Based Payment Arrangement [Abstract]

Stock-based compensation

The following table shows a summary of stock-based compensation in the Company's consolidated statements of operations and comprehensive income (loss) during the fiscal years presented:


	Year ended January 31,
(in thousands)	2025		2024		2023
Cost of revenue	$	14,955	$	16,462	$	13,591
Sales and marketing	15,623		13,182		9,821
Technology and development	25,002		20,891		13,828
General and administrative	40,845		26,616		25,374
Total stock-based compensation expense	$	96,425	$	77,151	$	62,614

The following table shows stock-based compensation by award type:


	Year ended January 31,
(in thousands)	2025		2024		2023
Restricted stock units	$	66,986	$	60,688	$	46,590
Performance restricted stock units	29,439		16,384		15,120
Stock options	—		79		882
Restricted stock awards	—		—		22
Total stock-based compensation expense	$	96,425	$	77,151	$	62,614

Stock award plans

Incentive Plan. During the fiscal year ended January 31, 2025, the Company adopted the HealthEquity, Inc. 2024 Equity Incentive Plan (the "Incentive Plan"), which provides for the issuance of stock awards to team members, consultants, and directors of the Company. Subject to adjustment as provided in the Incentive Plan, as of January 31, 2025, the aggregate number of shares of the Company’s common stock reserved and available for issuance pursuant to awards granted under the Incentive Plan was 3.8 million. No further awards will be made under the Company’s 2014 Equity Incentive Plan.

Stock options

Under the terms of the Incentive Plan, the Company has the ability to grant incentive and nonstatutory stock options to team members, including officers, non-employee directors and consultants of the Company, and Company affiliates. Such stock options are to be exercisable at prices, as determined by the board of directors, which must be equal to no less than the fair value of the Company's common stock at the date of the grant. Stock options granted under the Incentive Plan generally expire 10 years from the date of issuance or are forfeited 90 days after

termination of employment. No stock options were granted during the fiscal years ended January 31, 2025, 2024, or 2023.

A summary of stock option activity is as follows:


	Stock options
(in thousands, except for exercise prices and term)	Number of options	Range of exercise prices	Weighted- average exercise price		Weighted- average contractual term (in years)	Aggregate intrinsic value
Outstanding as of January 31, 2024	726	$14.00 - 73.61	$	36.91	2.5	$	28,067
Exercised	(356)	$14.00 - 73.61	$	25.33
Forfeited	(1)	$25.45 - 25.45	$	25.45
Outstanding as of January 31, 2025	369	$21.27 - 73.61	$	48.13	2.5	$	22,957
Vested and expected to vest as of January 31, 2025	369		$	48.13	2.5	$	22,957
Exercisable as of January 31, 2025	369		$	48.13	2.5	$	22,957

The aggregate intrinsic value in the table above represents the difference between the fair value of common stock and the exercise price of outstanding, in-the-money stock options. The total intrinsic value of options exercised during the fiscal years ended January 31, 2025, 2024 and 2023 was $21.7 million, $10.1 million, and $7.2 million, respectively. As of January 31, 2025, there was no unrecorded stock-based compensation expense associated with stock options, and all outstanding stock options were vested.

Restricted stock units

The Company grants RSUs to certain team members, officers, and directors under the Incentive Plan, which vest upon service-based criteria and performance-based criteria. The weighted-average fair value of RSUs granted during the fiscal years ended January 31, 2025, 2024 and 2023 was $86.07, $64.16 and $75.64 per share, respectively.

Service-based restricted stock units. Service-based RSUs generally vest 25% on the first anniversary of the vesting commencement date, which is generally the first day of the fiscal quarter of the grant date, with the remaining portion vesting ratably over the following 12 calendar quarters. Service-based RSUs are valued based on the Company's closing stock price on the date of grant less the present value of future expected dividends discounted at the risk-free interest rate.

Performance restricted stock units. During the fiscal year ended January 31, 2025, the Company awarded 182,044 performance restricted stock units ("PRSUs") subject to a market condition based on the Company’s total shareholder return relative to the Russell 2000 index as measured on January 31, 2027. The Company used a Monte Carlo simulation to determine that the grant date fair value of the awards was $20.2 million. Compensation expense is recorded over the requisite service period if the service condition is met regardless of whether the market condition is satisfied. The market condition allows for a range of vesting from 0% to 200% based on the level of performance achieved. The PRSUs cliff vest upon approval by the Talent, Compensation and Culture Committee of the board of directors.

In addition, during the fiscal year ended January 31, 2025, the Company awarded 60,682 PRSUs subject to the achievement of certain financial criteria measured on January 31, 2027. The PRSUs cliff vest upon approval by the Talent, Compensation and Culture Committee. The Company records stock-based compensation related to PRSUs over the requisite service period when it is considered probable that the performance conditions will be met. The Company believes it is probable that the PRSUs will vest at least in part. The vesting of the PRSUs will ultimately range from 0% to 200% of the number of shares underlying the PRSU grant based on the level of achievement of the performance goals.

Each of the PRSUs granted during the fiscal year ended January 31, 2025 contains a provision such that upon the award holder's eligible retirement, the PRSUs would remain outstanding and eligible to vest based on achievement of their respective market or performance conditions without regard to the award holder’s continued employment on the vesting date. Based on the application of ASC 718, Compensation - Stock Compensation, expense is recognized over the requisite service period, which ends on the earlier of (1) the date of approval by the Talent, Compensation and Culture Committee or (2) the date the award holder becomes eligible for retirement (defined as at least 55 years old with least 10 years of service at the Company). As a result, the expense associated with PRSUs granted to retirement-eligible individuals was recorded on the grant date.

A summary of RSU and PRSU activity is as follows:


	RSUs and PRSUs
(in thousands, except weighted-average grant date fair value)	Shares	Weighted-average grant date fair value
Outstanding as of January 31, 2024	3,363	$	67.96
Granted	1,146	86.07
Vested	(1,400)	64.17
Forfeited	(227)	70.33
Outstanding as of January 31, 2025	2,882	$	76.82

During the fiscal years ended January 31, 2025, 2024 and 2023, the aggregate intrinsic value of RSUs vested was $118.8 million, $69.3 million, and $50.7 million, respectively.

As of January 31, 2025, total unrecorded stock-based compensation expense associated with RSUs was $147.2 million, which was expected to be recognized over a weighted-average period of 2.0 years.

Consolidated balance sheets (Parenthetical) - USD ($) $ in Thousands	Jan. 31, 2025	Jan. 31, 2024
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 2,070	$ 3,947
Preferred stock par value (in usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value per share (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	900,000,000	900,000,000
Common stock, shares issued (in shares)	86,536,000	86,127,000
Common stock, shares outstanding (in shares)	86,536,000	86,127,000

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 9,874	$ 10,900
Right-of-use assets obtained in exchange for lease obligations	$ 1,469	$ 2,109

Supplemental financial statement information - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Allowance for doubtful accounts	$ 2,100	$ 3,900
Credit losses from trade receivables	200	1,700	$ 2,100
Prepaid expense	32,500	31,200
Capitalized contract cost	60,300	52,100
Amortization of capitalized contract costs	6,700	5,400	4,400
Depreciation expense	4,600	8,800	12,300
Remaining performance obligation	17,100	6,200
Deferred revenue	4,800
Loss on extinguishment of debt	$ 1,576	$ 1,157	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-02-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	70.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-02-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period

Fair value (Details) $ in Millions	Jan. 31, 2025 USD ($)
Level 2 \| 4.50% Senior Notes due 2029
Defined Benefit Plan Disclosure [Line Items]
Fair value of the notes	$ 567.0

Supplemental financial statement information (Tables)

12 Months Ended

Jan. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Property and Equipment

The useful life used for computing depreciation for all other asset classes is described below:


Computer equipment			3-5 years
Furniture and fixtures			5 years

Property and equipment consisted of the following as of January 31, 2025 and 2024:


(in thousands)	January 31, 2025		January 31, 2024
Leasehold improvements	$	13,966	$	14,455
Furniture and fixtures	6,708		7,087
Computer equipment	19,218		25,489
Property and equipment, gross	39,892		47,031
Accumulated depreciation	(36,653)		(41,018)
Property and equipment, net	$	3,239	$	6,013

Schedule of Other Expense, Net

Other income, net, consisted of the following:


	Year ended January 31,
(in thousands)	2025		2024		2023
Interest income	$	13,914	$	12,138	$	1,763
Acquisition costs	—		—		(53)
Other miscellaneous income (expense)	420		658		(439)
Total other income, net	$	14,334	$	12,796	$	1,271

Income taxes

12 Months Ended

Jan. 31, 2025

Income Tax Disclosure [Abstract]

Income taxes

The income tax provision (benefit) consisted of the following:


	Year ended January 31,
(in thousands)	2025		2024		2023
Current:
Federal	$	25,949	$	29,376	$	3,260
State	6,211		3,947		1,968
Total current tax provision	$	32,160	$	33,323	$	5,228
Deferred:
Federal	$	(11,886)	$	(11,004)	$	(14,382)
State	(943)		(2,991)		(2,799)
Total deferred tax benefit	$	(12,829)	$	(13,995)	$	(17,181)
Total income tax provision (benefit)	$	19,331	$	19,328	$	(11,953)

Total income tax provision (benefit) differed from the amounts computed by applying the U.S. federal statutory tax rate to income before income taxes as a result of the following:


	Year ended January 31,
(in thousands)	2025		2024		2023
Federal income tax provision (benefit) at the statutory rate	$	24,367	$	15,759	$	(8,000)
State income tax provision (benefit), net of federal tax provision (benefit)	4,365		5,382		(1,021)
Other non-deductible or non-taxable items, net	1,194		447		225
Excessive employee remuneration	6,782		2,939		3,246
Excess tax (benefit) shortfall on stock-based compensation expense, net	(12,102)		304		(2,479)
Federal research and development credits	(7,955)		(9,202)		(1,341)
Change in uncertain tax position reserves, net of indirect benefits	3,227		6,137		(2,970)
Deferred tax rate adjustment due to state apportionment changes	1,504		(1,039)		(30)
Adjustment from settlement of IRS examination	—		2,461		—
Return-to-provision adjustments	(1,155)		(433)		(38)
Change in valuation allowance	(96)		(3,129)		733
Other items, net	(800)		(298)		(278)
Total income tax provision (benefit)	$	19,331	$	19,328	$	(11,953)

The Company’s effective tax rate for the fiscal years ended January 31, 2025, 2024, and 2023 was 16.7%, 25.8%, and 31.4%, respectively. The difference between the effective tax rate and the U.S. federal statutory tax rate each period is impacted by a number of factors, including the relative mix of earnings among state jurisdictions, credits, excess tax benefits or shortfalls on stock-based compensation expense, changes in unrecognized tax benefits and valuation allowance, and other items. The decrease in the effective tax rate for the fiscal year ended January 31, 2025 compared to the fiscal year ended January 31, 2024 was primarily due to an increase in tax deductible stock-based compensation compared to GAAP stock-based compensation expense and a decrease in expense from unrecognized tax benefits, partially offset by an increase in pre-tax book income, an increase in nondeductible executive compensation, and increased expense from deferred tax rate adjustments due to state apportionment changes. The increase in the effective tax rate for the fiscal year ended January 31, 2024 compared to the fiscal year ended January 31, 2023 was primarily due to an increase in pre-tax book income, an increase in unrecognized tax benefits, adjustments from settlement of an IRS examination, and a decrease in tax deductible stock-based compensation compared to GAAP stock-based compensation expense, partially offset by an increase in research and development tax credits and a decrease in valuation allowance.

Deferred tax assets and liabilities consisted of the following:


(in thousands)	January 31, 2025		January 31, 2024
Deferred tax assets:
Net operating loss carryforward	$	1,120	$	1,730
Stock compensation	11,937		14,069
Research and development credits	4,160		3,796
Lease liabilities	13,245		14,371
Capitalized research and development	53,238		33,474
Fixed assets	1,083		939
Accruals and reserves	5,099		3,557
Other, net	6,632		1,937
Total gross deferred tax assets	$	96,514	$	73,873
Less valuation allowance	(1,066)		(1,164)
Deferred tax assets, net of valuation allowance	95,448		72,709
Deferred tax liabilities:
Intangible assets	(84,120)		(86,195)
Incremental contract costs	(15,282)		(12,887)
Right-of-use assets	(10,926)		(11,949)
Goodwill	(38,205)		(28,691)
Other, net	(2,749)		(1,657)
Total gross deferred tax liabilities	(151,282)		(141,379)
Net deferred tax liabilities	$	(55,834)	$	(68,670)

Management considered whether it is more likely than not that some portion or all of the deferred tax assets would be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considered the scheduled reversal of deferred tax liabilities in making this assessment and determined that based on the weight of all available evidence, it is more likely than not (i.e., a likelihood of more than 50%) that the Company will be able to realize all of its federal deferred tax assets and the majority if its state deferred tax assets. The Company recorded a valuation allowance of $1.1 million and $1.2 million as of January 31, 2025 and 2024, respectively, related to certain state deferred tax assets. The $0.1 million decrease in valuation allowance recorded is primarily the result of a corresponding increase in unrecognized tax benefits.

As of January 31, 2025, the Company had recorded state net operating loss carryforwards of $18.5 million, which begin to expire at various intervals beginning with the tax year ending January 31, 2033. As of January 31, 2025, the Company also had state research and development tax credits of $13.6 million, which begin to expire at various intervals beginning with the tax year ending January 31, 2026.

As of January 31, 2025 and 2024, the gross unrecognized tax benefit was $24.1 million and $19.2 million, respectively. If recognized, $20.9 million and $16.2 million of the total unrecognized tax benefits would affect the Company's effective tax rate as of January 31, 2025 and 2024, respectively. Total gross unrecognized tax benefits increased by $4.9 million in the period from January 31, 2024 to January 31, 2025.

A tabular reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:


(in thousands)	January 31, 2025		January 31, 2024
Gross unrecognized tax benefits at beginning of year	$	19,213	$	8,690
Gross amounts of increases and decreases:
Increases as a result of tax positions taken during a prior period	1,004		9,325
Increases as a result of tax positions taken during the current period	5,076		3,386
Decreases as a result of settlement	—		(1,030)
Decreases resulting from the lapse of the applicable statute of limitations	(1,153)		(1,158)
Gross unrecognized tax benefits at end of year	$	24,140	$	19,213

Certain unrecognized tax benefits are required to be netted against their related deferred tax assets as a result of ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar

Tax Loss, or a Tax Credit Carryforward Exists. The resulting unrecognized tax benefit recorded within the Company's consolidated balance sheet excludes the following amounts that have been netted against the related deferred tax assets accordingly:


(in thousands)	January 31, 2025		January 31, 2024
Total gross unrecognized tax benefits	$	24,140	$	19,213
Amounts netted against related deferred tax assets	(8,363)		(7,186)
Unrecognized tax benefits recorded on the consolidated balance sheet	$	15,777	$	12,027

The Company’s policy is to recognize interest and penalties related to unrecognized tax benefits as a component of other income, net in the statement of operations and comprehensive income (loss). During the fiscal years ended January 31, 2025, 2024, and 2023, the Company recorded penalties and interest of $0.6 million, $0.1 million, and $0.4 million, respectively, related to unrecognized tax benefits. As of January 31, 2025 and 2024, the Company recorded accrued interest and penalties of $2.0 million and $1.4 million, respectively.

The Company files income tax returns with U.S. federal and state taxing jurisdictions and is currently under examination by the states of California and Texas. Such examinations may lead to ordinary course adjustments or proposed adjustments to the Company's taxes, net operating losses, and/or tax credit carryforwards. As a result of the Company's net operating loss carryforwards and tax credit carryforwards, the Company remains subject to examination by one or more jurisdictions for tax years after 2006.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: 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 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: 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 11: 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 12: 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 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-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 14: 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

Consolidated statements of stockholders' equity - USD ($) shares in Thousands, $ in Thousands	Total	Common stock	Additional paid-in capital	Accumulated earnings
Beginning balance (in shares) at Jan. 31, 2022		83,780
Beginning balance at Jan. 31, 2022	$ 1,852,575	$ 8	$ 1,676,508	$ 176,059
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of options, and for restricted stock (in shares)		978
Issuance of common stock	6,594		6,594
Stock-based compensation	62,614		62,614
Net income (loss)	(26,143)			(26,143)
Ending balance (in shares) at Jan. 31, 2023		84,758
Ending balance at Jan. 31, 2023	1,895,640	$ 8	1,745,716	149,916
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of options, and for restricted stock (in shares)		1,369
Issuance of common stock	6,518	$ 1	6,517
Stock-based compensation	77,151		77,151
Net income (loss)	$ 55,712			55,712
Repurchases of common stock (in shares)	0
Repurchases of common stock	$ 0
Ending balance (in shares) at Jan. 31, 2024		86,127
Ending balance at Jan. 31, 2024	2,035,021	$ 9	1,829,384	205,628
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of options, and for restricted stock (in shares)		1,770
Issuance of common stock	9,009		9,009
Stock-based compensation	96,425		96,425
Net income (loss)	$ 96,703			96,703
Repurchases of common stock (in shares)	(1,361)	(1,361)
Repurchases of common stock	$ (122,247)		(29,190)	(93,057)
Ending balance (in shares) at Jan. 31, 2025		86,536
Ending balance at Jan. 31, 2025	$ 2,114,911	$ 9	$ 1,905,628	$ 209,274

- Definition

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

+ References

+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480418/310-10-S99-2

+ Details

Insider Trading Arrangements	3 Months Ended	12 Months Ended
Insider Trading Arrangements	Jan. 31, 2025 shares	Jan. 31, 2025 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Michael Fiore [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On December 18, 2024, Michael Fiore, our Chief Commercial Officer, entered into a Rule 10b5-1 trading arrangement (the “Fiore Arrangement”). The Fiore Arrangement provides for the sale, between March 19, 2025 and December 15, 2025, of up to 20,580 aggregate shares of the Company’s common stock held by Mr. Fiore. The Fiore Arrangement was entered into during an open insider trading window and is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act.
Name	Michael Fiore
Title	Chief Commercial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 18, 2024
Expiration Date	December 15, 2025
Arrangement Duration	271 days
Aggregate Available	20,580	20,580

Leases (Tables)

12 Months Ended

Jan. 31, 2025

Leases [Abstract]

Schedule of Lease Cost

The components of operating lease expense were as follows:


	Year ended January 31,
(in thousands)	2025		2024		2023
Operating lease expense	$	9,125	$	9,437	$	11,371
Sublease income	(4,097)		(2,680)		(2,187)
Net operating lease expense	$	5,028	$	6,757	$	9,184

Weighted average lease term and discount rate were as follows:


	January 31, 2025		January 31, 2024
Weighted average remaining lease term	5.7 years		6.7 years
Weighted average discount rate	4.4	%	4.3	%

Lease liabilities were as follows:


(in thousands)	January 31, 2025		January 31, 2024
Gross lease liabilities	$	59,209	$	67,269
Less: imputed interest	(6,989)		(9,099)
Present value of lease liabilities	52,220		58,170
Less: current portion of lease liabilities	(10,001)		(9,404)
Lease liabilities, non-current	$	42,219	$	48,766

Supplemental cash flow information related to the Company's operating leases was as follows:


	Year ended January 31,
(in thousands)	2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	9,874	$	10,900
Right-of-use assets obtained in exchange for lease obligations	$	1,469	$	2,109

Stockholders' equity - Common Stock Repurchased and Subsequently Retired (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Equity [Abstract]
Common stock repurchases (in shares)	1,361	0
Common stock repurchases	$ 122,247	$ 0

Indebtedness - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Jan. 31, 2024
Debt Instrument [Line Items]
Principal amount	$ 1,061,875	$ 886,875
Less: unamortized discount and issuance costs	5,574	11,903
Total	1,056,301	874,972
Less: current portion of long-term debt	0	0
Long-term debt, net	1,056,301	874,972
Revolving Credit Facility And Prior Revolving Credit Facility
Debt Instrument [Line Items]
Debt issuance costs, net	7,700	2,500
4.50% Senior Notes due 2029
Debt Instrument [Line Items]
Principal amount	600,000	600,000
Total	$ 600,000
Stated interest rate (as a percent)	4.50%
Credit Agreement
Debt Instrument [Line Items]
Stated interest rate (as a percent)	5.91%
Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount	$ 461,875	0
Total	461,875
Credit Agreement \| Prior Term Loan Facility
Debt Instrument [Line Items]
Principal amount	$ 0	$ 286,875

Stockholders' equity - Narrative (Details) - USD ($)	Jan. 31, 2025	Sep. 30, 2024
Share Repurchase Program [Line Items]
Share repurchase program, authorized amount		$ 300,000,000
Remaining authorized repurchase amount	$ 177,800,000
Passive Custodial Funds
Share Repurchase Program [Line Items]
Minimum net worth above custodial assets (as a percent)	2.00%
Non-passive Custodial Fund
Share Repurchase Program [Line Items]
Minimum net worth above custodial assets (as a percent)	4.00%

Stock-based compensation - Schedule of Restricted Stock Unit and Performance Restricted Stock Unit Activity (Details) - RSUs and PRSUs shares in Thousands	12 Months Ended
	Jan. 31, 2025 $ / shares shares
Shares
Outstanding, beginning balance (in shares) \| shares	3,363
Granted (in shares) \| shares	1,146
Vested (in shares) \| shares	(1,400)
Forfeited (in shares) \| shares	(227)
Outstanding, ending balance (in shares) \| shares	2,882
Weighted-average grant date fair value
Outstanding, beginning balance (in usd per share) \| $ / shares	$ 67.96
Granted (in usd per share) \| $ / shares	86.07
Vested (in usd per share) \| $ / shares	64.17
Forfeited (in usd per share) \| $ / shares	70.33
Outstanding, ending balance (in usd per share) \| $ / shares	$ 76.82

Intangible assets and goodwill - Schedule for Future Amortization Expense (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Jan. 31, 2024
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2026	$ 146,511
2027	129,812
2028	111,644
2029	98,155
2030	97,130
Thereafter	621,406
Net carrying amount	$ 1,204,658	$ 835,948

Supplemental financial statement information - Other Expense, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest income	$ 13,914	$ 12,138	$ 1,763
Acquisition costs	0	0	(53)
Other miscellaneous income (expense)	420	658	(439)
Total other income, net	$ 14,334	$ 12,796	$ 1,271

Stock-based compensation - Narrative (Details) - USD ($)	12 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0	0	0
Aggregate intrinsic value	$ 21,700,000	$ 10,100,000	$ 7,200,000
Unrecognized stock compensation expense related to options to be recognized in future	$ 0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period after termination (in years)	10 years
Expiration period from termination of employment (in days)	90 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in usd per share)	$ 86.07	$ 64.16	$ 75.64
Percentage of options vested (as a percent)	25.00%
Aggregate intrinsic value	$ 118,800,000	$ 69,300,000	$ 50,700,000
Compensation not yet recognized, other than options	$ 147,200,000
Recognition period for stock-based compensation (in years)	2 years
Performance Restricted Stock Units, Subject To Market Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance units awarded (in shares)	182,044
Grant date fair value	$ 20,200,000
Performance Restricted Stock Units, Subject To Market Conditions \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested (as a percent)	0.00%
Performance Restricted Stock Units, Subject To Market Conditions \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested (as a percent)	200.00%
Performance Restricted Stock Units, Subject To Certain Financial Criteria
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance units awarded (in shares)	60,682
Performance Restricted Stock Units, Subject To Certain Financial Criteria \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested (as a percent)	0.00%
Performance Restricted Stock Units, Subject To Certain Financial Criteria \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested (as a percent)	200.00%
Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant under incentive plan (in shares)	3,800,000

Income taxes - Schedule of Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2023
Current:
Federal	$ 25,949	$ 29,376	$ 3,260
State	6,211	3,947	1,968
Total current tax provision	32,160	33,323	5,228
Deferred:
Federal	(11,886)	(11,004)	(14,382)
State	(943)	(2,991)	(2,799)
Total deferred tax benefit	(12,829)	(13,995)	(17,181)
Total income tax provision (benefit)	$ 19,331	$ 19,328	$ (11,953)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: 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 4: 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 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (a)
-SubTopic 20
-Topic 740
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Income taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Jan. 31, 2024
Deferred tax assets:
Net operating loss carryforward	$ 1,120	$ 1,730
Stock compensation	11,937	14,069
Research and development credits	4,160	3,796
Lease liabilities	13,245	14,371
Capitalized research and development	53,238	33,474
Fixed assets	1,083	939
Accruals and reserves	5,099	3,557
Other, net	6,632	1,937
Total gross deferred tax assets	96,514	73,873
Less valuation allowance	(1,066)	(1,164)
Deferred tax assets, net of valuation allowance	95,448	72,709
Deferred tax liabilities:
Intangible assets	(84,120)	(86,195)
Incremental contract costs	(15,282)	(12,887)
Right-of-use assets	(10,926)	(11,949)
Goodwill	(38,205)	(28,691)
Other, net	(2,749)	(1,657)
Total gross deferred tax liabilities	(151,282)	(141,379)
Net deferred tax liabilities	$ (55,834)	$ (68,670)

Intangible assets and goodwill - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Jan. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 1,954,752	$ 1,437,450
Accumulated amortization	(750,094)	(601,502)
Net carrying amount	1,204,658	835,948
Software and software development costs
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	312,234	267,498
Accumulated amortization	(234,102)	(197,388)
Net carrying amount	78,132	70,110
Acquired HSA portfolios
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	737,011	264,445
Accumulated amortization	(124,606)	(81,059)
Net carrying amount	612,405	183,386
Acquired customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	759,782	759,782
Accumulated amortization	(256,820)	(205,127)
Net carrying amount	502,962	554,655
Acquired developed technology
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	132,825	132,825
Accumulated amortization	(121,666)	(105,049)
Net carrying amount	11,159	27,776
Acquired trade names
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	12,900	12,900
Accumulated amortization	(12,900)	(12,879)
Net carrying amount	$ 0	$ 21

- 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

Commitments and contingencies (Tables)

12 Months Ended

Jan. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of Payments Due By Fiscal Year For Our Outstanding Contractual Obligations

The following table summarizes the payments due by fiscal year for the Company's outstanding contractual obligations as of January 31, 2025:


	Payments due by fiscal year
(in thousands)	2026		2027		2028		2029		2030		Thereafter		Total
4.50% Senior Notes due 2029 (1)	$	—	$	—	$	—	$	—	$	600,000	$	—	$	600,000
Revolving Credit Facility (1)	—		—		—		—		461,875		—		461,875
Interest on long-term debt obligations (2)	54,679		54,679		54,679		54,755		31,422		—		250,214
Operating lease obligations (3)	10,245		10,159		10,323		10,553		10,789		7,139		59,208
Other contractual obligations (4)	30,927		26,172		12,176		1,163		247		—		70,685
Total	$	95,851	$	91,010	$	77,178	$	66,471	$	1,104,333	$	7,139	$	1,441,982

(2)Estimated interest payments assume the stated interest rates applicable to the Notes and Revolving Credit Facility as of January 31, 2025, which were 4.50% and 5.91% per annum, respectively.

(4)Other contractual obligations consist of processing services agreements, software subscriptions, and other contractual commitments.

Stock-based compensation - Schedule of Stock-Based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 96,425	$ 77,151	$ 62,614
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	66,986	60,688	46,590
Performance restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	29,439	16,384	15,120
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	0	79	882
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	0	0	22
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	14,955	16,462	13,591
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	15,623	13,182	9,821
Technology and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	25,002	20,891	13,828
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 40,845	$ 26,616	$ 25,374

Consolidated statements of cash flows - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Jan. 31, 2023
Cash flows from operating activities:
Net income (loss)	$ 96,703	$ 55,712	$ (26,143)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	162,451	153,078	161,201
Stock-based compensation	96,425	77,151	62,614
Amortization of debt issuance costs	2,067	2,852	3,261
Loss on extinguishment of debt	1,576	1,157	0
Other non-cash items	0	0	268
Deferred taxes	(12,836)	(13,995)	(17,181)
Changes in operating assets and liabilities:
Accounts receivable	(13,113)	(8,058)	(9,570)
Other assets	(11,790)	(32,790)	4,620
Operating lease right-of-use assets	6,664	10,190	8,244
Accrued compensation	17,758	2,951	(1,282)
Accounts payable, accrued liabilities, and other current liabilities	8,888	(204)	(26,673)
Operating lease liabilities, non-current	(7,779)	(11,780)	(7,232)
Other long-term liabilities	(7,158)	6,562	(1,477)
Net cash provided by operating activities	339,856	242,826	150,650
Cash flows from investing activities:
Purchases of software and capitalized software development costs	(51,129)	(41,123)	(45,173)
Acquisitions of HSA portfolios	(452,241)	(3,257)	(70,583)
Purchases of property and equipment	(2,084)	(1,694)	(3,371)
Net cash used in investing activities	(505,454)	(46,074)	(119,127)
Cash flows from financing activities:
Principal payments on long-term debt	(561,875)	(54,375)	(8,750)
Proceeds from long-term debt	736,875	0	0
Payment of debt issuance costs	(3,748)	0	0
Repurchases of common stock	(121,493)	0	0
Settlement of client-held funds obligation, net	(1,620)	865	(603)
Proceeds from exercise of common stock options	9,428	6,471	6,682
Net cash provided by (used in) financing activities	57,567	(47,039)	(2,671)
Increase (decrease) in cash and cash equivalents	(108,031)	149,713	28,852
Beginning cash and cash equivalents	403,979	254,266	225,414
Ending cash and cash equivalents	295,948	403,979	254,266
Supplemental cash flow data:
Interest expense paid in cash	58,587	49,560	43,570
Income tax payments, net	26,069	35,352	1,526
Supplemental disclosures of non-cash investing and financing activities:
Non-cash purchase consideration related to acquisitions of HSA portfolios	20,325	0	0
Purchases of software and capitalized software development costs included in accounts payable, accrued liabilities, or accrued compensation	5,971	3,145	3,595
Repurchases of common stock included in accrued liabilities	754	0	0
Purchases of property and equipment included in accounts payable or accrued liabilities	45	263	69
Increase in goodwill due to measurement period adjustments, net	0	0	2,309
Exercise of common stock options receivable	$ 10	$ 429	$ 382

Commitments and contingencies - Outstanding Contractual Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Long-term Debt, Fiscal Year Maturity [Abstract]
Total	$ 1,056,301	$ 874,972
Interest On Long-Term Debt, Fiscal Year Maturity [Abstract]
2026	54,679
2027	54,679
2028	54,679
2029	54,755
2030	31,422
Thereafter	0
Total	250,214
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2026	10,245
2027	10,159
2028	10,323
2029	10,553
2030	10,789
Thereafter	7,139
Total	59,208
Other Commitment, Fiscal Year Maturity [Abstract]
2026	30,927
2027	26,172
2028	12,176
2029	1,163
2030	247
Thereafter	0
Total	70,685
Contractual Obligation, Fiscal Year Maturity [Abstract]
2026	95,851
2027	91,010
2028	77,178
2029	66,471
2030	1,104,333
Thereafter	7,139
Total	1,441,982
Principal amount	1,061,875	886,875
Sublease income to be received	17,600
4.50% Senior Notes due 2029
Long-term Debt, Fiscal Year Maturity [Abstract]
2026	0
2027	0
2028	0
2029	0
2030	600,000
Thereafter	0
Total	600,000
Contractual Obligation, Fiscal Year Maturity [Abstract]
Principal amount	$ 600,000	600,000
Stated interest rate (as a percent)	4.50%
Credit Agreement
Contractual Obligation, Fiscal Year Maturity [Abstract]
Stated interest rate (as a percent)	5.91%
Credit Agreement \| Revolving Credit Facility
Long-term Debt, Fiscal Year Maturity [Abstract]
2026	$ 0
2027	0
2028	0
2029	0
2030	461,875
Thereafter	0
Total	461,875
Contractual Obligation, Fiscal Year Maturity [Abstract]
Principal amount	$ 461,875	$ 0