Interest Rate Risk We had cash and cash equivalents, restricted cash, and short-term investments of $445.6 million as of July 31, 2026. Our cash and cash equivalents and investments primarily consist of overnight cash deposits, money market funds, U.S. treasury securities, certificates of deposit, corporate debt securities, and non-U.S. government issued securities. We do not enter into investments for trading or speculative purposes. 32 Our cash and cash equivalents have limited exposure to market risk for changes in interest rates because they have a short-term maturity and are used primarily for working capital purposes. Our portfolio of short-term investments is subject to market risk due to changes in interest rates. Fixed rate securities may have their market value adversely affected due to a raise in interest rates. Accordingly, our future investment income may fluctuate due to changes in interest rates or we may suffer losses in principal if we sell securities that decline in market value due to changes in interest rates. However, because we classify our short-term investments as “available for sale,” no gains or losses are recognized due to changes in interest rates unless such securities are sold prior to maturity or declines in fair value are caused by expected credit losses. A hypothetical increase or decrease of 100 basis points in interest rates would not have a material impact on the market value of our portfolio of short-term investments as of July 31, 2026. This estimate is based on a sensitivity model that measures market value changes when changes in interest rates occur. The 2029 Convertible Notes have fixed annual interest rates and therefore we have no financial or economic interest exposure associated with changes in interest rates. However, the fair value of the 2029 Convertible Notes fluctuates when interest rates change. Additionally, the fair value of the 2029 Convertible Notes can be affected by fluctuations in our stock price. We carry the 2029 Convertible Notes at face value less unamortized issuance costs on our condensed consolidated balance sheets, and we present the fair value for required disclosures only. Foreign Currency Risk Approximately 35% of our revenue is represented by customer contracts denominated in foreign currencies, which include the Japanese Yen, Euro, and British Pound. As our foreign operations continue to grow, specifically in Japan, we have increasing exposure to fluctuations in foreign currency exchange rates. These fluctuations can result in fluctuations in our total assets, liabilities, revenues, operating expenses and cash flows that we report for our foreign subsidiaries upon translation of these amounts into U.S. dollars. For the three and six months ended July 31, 2026, revenue growth was unfavorably impacted by approximately 170 basis points and 60 basis points, respectively, compared to the corresponding prior period due to fluctuations in foreign currency exchange rates. For the three months ended July 31, 2026, total operating expenses were not materially impacted by fluctuations in foreign currency exchange rates. For the six months ended July 31, 2026, total operating expenses were unfavorably impacted by approximately 100 basis points compared to the corresponding period due to fluctuations in foreign currency exchange rates. Additionally, our international subsidiaries maintain certain asset and liability balances as well as operating expenses that are denominated in foreign currencies other than the functional currency and as a result, may cause us to recognize transaction gains and losses in our statement of operations impacting our operating expenses which are recognized in other (expense) income, net on our condensed consolidated statements of operations. To partially mitigate risks associated with fluctuations in foreign currency exchange rates, we have entered into foreign currency derivative contracts to economically hedge unrealized gains and losses from remeasurement resulting from net outstanding monetary assets and liabilities that are denominated in currencies other than the functional currency of the entities in which they are recorded. For both the three months ended July 31, 2026 and 2025, foreign currency exchange losses were not material. For the six months ended July 31, 2026 and 2025, we recognized $1.7 million in net foreign currency exchange losses and $2.0 million in net foreign currency exchange gains, respectively. We have also entered into foreign currency derivative contracts designated as cash flow hedges to mitigate the impact of fluctuations in foreign exchange rates on future cash flows and earnings. 33