v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Apr. 30, 2026
Apr. 30, 2025
Operating activities    
Net income $ 12,834 $ 25,947
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property, software, and equipment, net 1,434 1,847
Non-cash lease expense 862 794
Deferred income taxes 3,880 0
Stock-based compensation expense 17,053 1,879
Impairment of internally developed software 0 378
Change in fair value of warrant liabilities 412 0
Changes in operating assets and liabilities:    
Due from clients (46,255) (25,685)
Accounts receivable 3,376 1,309
Other current and noncurrent assets (1,845) 1,325
Accounts payable (41) 226
Accrued liabilities 4,067 8,234
Due to clients (18,160) (2,711)
Payable to clearing broker 46,073 25,847
Lease liabilities (1,007) (909)
Net cash provided by (used in) operating activities 22,683 38,481
Investing activities    
Purchases of property, software, and equipment (985) (211)
Net cash used in investing activities (985) (211)
Financing activities    
Taxes paid related to net share settlement of RSUs (4,653) 0
Proceeds from exercise of stock options, including early exercises 1,118 369
Proceeds from exercise of common stock warrants 960 0
Repurchase of common stock (28,261) (213)
Net cash (used in) provided by financing activities (30,837) 156
Net (decrease) increase in cash and cash equivalents, cash segregated and on deposit for regulatory purposes, and restricted cash and cash equivalents (9,139) 38,426
Cash and cash equivalents, cash segregated and on deposit for regulatory purposes, and restricted cash and cash equivalents at the beginning of the period 453,790 154,553
Cash and cash equivalents, cash segregated and on deposit for regulatory purposes, and restricted cash and cash equivalents at the end of the period 444,651 192,979
Supplemental disclosures of cash flow information    
Cash (refunded) paid for income taxes (420) 481
Cash paid for interest 2,736 1,654
Non-cash financing activities    
Issuance of common stock warrants upon cashless exercise 449  
The following presents cash and cash equivalents, cash segregated and on deposit for regulatory purposes, and restricted cash and cash equivalents    
Cash and cash equivalents 428,208 182,867
Cash segregated and on deposit for regulatory purposes 13,833 7,502
Restricted cash and cash equivalents in other noncurrent assets 2,610 2,610
Total cash and cash equivalents, cash segregated and on deposit for regulatory purposes, and restricted cash and cash equivalents $ 444,651 $ 192,979