Interest Rate Risk We are subject to the impact of interest rate changes and may be subject to changes in the market values of our investments. We invest our excess cash in cash equivalents and marketable securities, including money market funds, U.S. Treasury securities, U.S. agency securities, and investment-grade corporate bonds and commercial paper. The fair value and investment income of these instruments fluctuate based on changes in market interest rates. A decline in interest rates could adversely affect our future investment income, and we may incur losses in principal if we are required to sell securities that have declined in market value as a result of rising interest rates. During the three months ended May 31, 2026, our investment portfolio generated an average yield of approximately 3%, resulting in interest income of $2.2 million for the quarter. Based on the composition of our investments as of May 31, 2026, a hypothetical 100-basis-point increase or decrease in market interest rates would not have a material impact on our condensed consolidated financial statements. We do not currently have material risk associated with interest expense as we did not have any outstanding borrowings under our Revolving Facility as of May 31, 2026.