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

Consolidated Statements of Cash Flows

v3.25.1
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) $ (121,908) $ (349,285) $ (724,964)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Impairment of goodwill and intangible assets 0 202,233 641,362
Amortization expense for intangible assets 127,216 152,511 176,690
Stock-based compensation expense 19,587 31,067 36,622
Non-cash operating lease right-of-use asset expense 2,175 5,015 5,836
Depreciation expense 3,374 3,330 6,508
Non-cash interest expense 2,184 2,074 2,098
Non-cash property, equipment, software and operating right-of-use asset impairment charges 2,622 5,230 0
Provision for credit loss expense (recovery) (61) 341 375
(Gain) loss on sale of business 0 682 (56,619)
Provision for (benefit from) deferred income taxes – non-cash (9,990) (22,066) (43,082)
Fair value adjustment of warrants (0) (4,754) (23,158)
Fair value adjustment of interest rate swaps (1,287) (2,756) 1,554
Changes in current assets and liabilities, net of effects from acquisitions:      
Accounts receivable 4,087 (2,091) (1,560)
Prepaid expenses and other assets, including long-term (132) (4,601) (13,588)
Operating right-of-use assets and operating lease liabilities (4,487) (6,041) (4,456)
Accounts payable (855) (3,848) (5,982)
Accrued expenses and other liabilities, including long-term 5,348 (6,425) (20,797)
Deferred revenue 2,092 2,202 2,228
Net cash provided by (used in) operating activities 29,965 2,818 (20,933)
Cash flows from investing activities:      
Purchase of property and equipment (1,603) (4,181) (4,913)
Proceeds from sale of property and equipment 10 0 0
Internally developed software - capitalized costs (16,765) (13,722) (10,352)
Sale of SumTotal, net of cash transferred 0 (5,137) 171,995
Net cash provided by (used in) investing activities (18,358) (23,040) (42,184)
Cash flows from financing activities:      
Shares repurchased for tax withholding upon vesting of restricted stock-based awards (1,127) (1,649) (4,279)
Payments to acquire treasury stock 0 (8,046) (2,845)
Proceeds from (payments on) accounts receivable facility (43,980) 5,287 (34,936)
Principal payments on term loans (6,404) (6,404) (37,795)
Proceeds from issuance of term loans, net of fees 0 0 157,088
Net cash provided by (used in) financing activities (51,511) (10,812) 77,233
Effect of exchange rate changes on cash and cash equivalents (3,282) 1 (5,483)
Net increase (decrease) in cash, cash equivalents and restricted cash (43,186) (31,033) 8,633
Cash, cash equivalents and restricted cash, beginning of period 146,523 177,556 168,923
Cash, cash equivalents and restricted cash, end of period 103,337 146,523 177,556
Supplemental disclosure of cash flow information:      
Cash and cash equivalents 100,766 136,308 170,359
Restricted cash 2,571 10,215 7,197
Cash, cash equivalents and restricted cash, end of period 103,337 146,523 177,556
Cash paid for interest 63,114 64,229 49,078
Cash paid (received) for income taxes, net of refunds 3,702 5,839 4,165
Unpaid capital expenditures 0 0 596
Shares issued in connection with business combination 0 0 182,550
Codecademy [Member]      
Cash flows from investing activities:      
Acquisition of Codecademy, net of cash acquired $ 0 $ 0 $ (198,914)