v3.26.1
Fair Value of Financial Assets and Liabilities (Tables)
 3 Months Ended
Apr. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis The Company’s assessment of the significance of a particular

input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability.

 

 

April 30, 2026

 

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

Money market funds

 

$

234,366

 

 

$

—

 

 

$

—

 

Restricted cash equivalents: money market funds

 

 

5,926

 

 

 

—

 

 

 

—

 

Short-term investments:

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

208,582

 

 

 

—

 

 

 

—

 

Commercial paper

 

 

—

 

 

 

2,331

 

 

 

—

 

Corporate bonds

 

 

—

 

 

 

151,832

 

 

 

—

 

Total assets

 

$

448,874

 

 

$

154,163

 

 

$

—

 

 

 

January 31, 2026

 

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

Money market funds

 

$

99,181

 

 

$

—

 

 

$

—

 

Corporate bonds

 

 

—

 

 

$

2,584

 

 

 

—

 

Restricted cash equivalents: money market funds

 

 

5,926

 

 

 

—

 

 

 

—

 

Short-term investments:

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

212,897

 

 

 

—

 

 

 

—

 

Commercial paper

 

 

—

 

 

 

4,601

 

 

 

—

 

Corporate bonds

 

 

—

 

 

 

193,151

 

 

 

—

 

Total assets

 

$

318,004

 

 

$

200,336

 

 

$

—

 

Liabilities

 

 

 

 

 

 

 

 

 

Public Warrants

 

$

128,363

 

 

$

—

 

 

$

—

 

Private Placement Warrants

 

 

—

 

 

 

—

 

 

 

44,945

 

Total liabilities

 

$

128,363

 

 

$

—

 

 

$

44,945

 
Schedule of Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following is a roll-forward of Level 3 liabilities measured at fair value for the three months ended April 30, 2026 and 2025:

 

(in thousands)

 

Private
Placement
Warrants

 

 

Technical
Milestone
Contingent
Consideration (1)

 

 

Customer
Contract
Earnout
Contingent
Consideration (1)

 

Fair value at end of year, January 31, 2025

 

$

8,900

 

 

$

5,980

 

 

$

1,578

 

Payments

 

 

—

 

 

 

(3,250

)

 

 

(1,570

)

Change in fair value

 

 

(5,488

)

 

 

(33

)

 

 

(8

)

Fair value at April 30, 2025

 

$

3,412

 

 

$

2,697

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

Fair value at end of year, January 31, 2026

 

$

44,945

 

 

$

—

 

 

$

—

 

Private placement warrant exercises

 

 

(41,079

)

 

 

—

 

 

 

—

 

Change in fair value

 

 

(3,866

)

 

 

—

 

 

 

—

 

Fair value at April 30, 2026

 

$

—

 

 

$

—

 

 

$

—

 

 

(1) Changes in fair value of the contingent consideration liability for the Salo Sciences technical milestone payments are included within research and development expenses. Changes in fair value of the Salo Sciences contingent consideration liability for customer contract earnout payments are included within sales and marketing expenses.