Cash and cash equivalents include interest-bearing bank deposits, money market funds and other highly liquid investments with maturities of 90 days or less at the date of purchase.

The Company had restricted cash and cash equivalents balances of $7.5 million and $6.1 million as of April 30, 2026 and January 31, 2026, respectively.

The restricted cash and cash equivalents balances as of April 30, 2026 and January 31, 2026 primarily consisted of $4.0 million of collateral money market investments for the Company’s headquarters and other domestic office operating leases.

A reconciliation of the Company’s cash and cash equivalents, and restricted cash and cash equivalents in the condensed consolidated balance sheets to total cash and cash equivalents, and restricted cash and cash equivalents in the condensed consolidated statements of cash flows as of April 30, 2026 and January 31, 2026 is as follows:


(in thousands)	April 30, 2026		January 31, 2026
Cash and cash equivalents	$	368,090	$	229,441
Restricted cash and cash equivalents, current		896		642
Restricted cash and cash equivalents, non-current		6,610		5,471
Total cash, cash equivalents, and restricted cash and cash equivalents	$	375,596	$	235,554

Short-term investments consisted of the following as of April 30, 2026 and January 31, 2026:


	Cost or		April 30, 2026
	Amortized		Gross Unrealized
(in thousands)	Cost		Gains		Losses			Fair Value
U.S. Treasury securities	$	208,746	$	4	$	(168	)	$	208,582
Commercial paper		2,334		—		(4	)		2,330
Corporate bonds		151,962		57		(186	)		151,833
Total short-term investments	$	363,042	$	61	$	(358	)	$	362,745


	Cost or		January 31, 2026
	Amortized		Gross Unrealized
(in thousands)	Cost		Gains		Losses			Fair Value
U.S. Treasury securities	$	212,790	$	110	$	(3	)	$	212,897
Commercial paper		4,598		3		—			4,601
Corporate bonds		192,846		321		(16	)		193,151
Total short-term investments	$	410,234	$	434	$	(19	)	$	410,649

The following table summarizes the contracted maturities of the Company’s short-term investments as of April 30, 2026 and January 31, 2026:


	April 30, 2026				January 31, 2026
(in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in 1 year or less	$	261,431	$	261,390	$	270,349	$	270,567
Due in 1-2 years		101,611		101,355		139,885		140,082
Total short-term investments	$	363,042	$	362,745	$	410,234	$	410,649

Property and equipment, net consists of the following:


(in thousands)	April 30, 2026			January 31, 2026
Satellites	$	243,213		$	244,705
Satellites in process and not placed into service		91,894			79,114
Leasehold improvements		17,774			17,544
Ground stations and ground station equipment		23,711			22,675
Office furniture, equipment and fixtures		15,429			13,909
Computer equipment and purchased software		11,062			10,605
Total property and equipment, gross	$	403,083		$	388,552
Less: Accumulated depreciation		(243,938	)		(237,979	)
Total property and equipment, net	$	159,145		$	150,573

Total depreciation expense for the three months ended April 30, 2026 and 2025 was $8.3 million and $9.0 million, respectively, of which $7.3 million and $8.1 million, respectively, was depreciation expense specific to satellites.

Amortization expense for capitalized internal-use software for the three months ended April 30, 2026 and 2025 was $1.3 million and $0.7 million, respectively.

Goodwill and intangible assets consists of the following:


	April 30, 2026									January 31, 2026
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Foreign Currency Translation		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Foreign Currency Translation		Net Carrying Amount
Developed technology	$	32,530	$	(17,464	)	$	471	$	15,537	$	32,530	$	(16,659	)	$	587	$	16,458
Image library		22,054		(15,548	)		252		6,758		21,804		(15,098	)		237		6,943
Customer relationships		7,143		(4,944	)		102		2,301		7,143		(4,811	)		124		2,456
Trade names and other		6,389		(5,867	)		38		560		6,389		(5,651	)		38		776
Total intangible assets	$	68,116	$	(43,823	)	$	863	$	25,156	$	67,866	$	(42,219	)	$	986	$	26,633
Goodwill	$	139,881	$	—		$	3,230	$	143,111	$	139,881	$	—		$	3,571	$	143,452

Amortization expense for intangible assets for the three months ended April 30, 2026 and 2025 was $1.6 million and $1.4 million, respectively. No impairment charges were recognized related to intangible assets (including goodwill) for the three months ended April 30, 2026 and 2025.

Accrued liabilities and other current liabilities consist of the following:


(in thousands)	April 30, 2026		January 31, 2026
Deferred R&D service liability (see Note 7)	$	3,502	$	4,723
Payroll and related expenses		6,974		13,891
Deferred hosting costs		4,981		4,954
Withholding taxes and other taxes payable		8,647		6,372
Litigation contingency accruals (see Note 8)		20,530		12,530
Other accruals		13,905		13,404
Total accrued and other current liabilities	$	58,539	$	55,874