v3.26.1
Supplemental financial statement information
 6 Months Ended
Jul. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental financial statement information Supplemental financial statement information
Selected condensed consolidated balance sheet and condensed consolidated statement of operations components consisted of the following:
Property and equipment
Property and equipment consisted of the following:
(in thousands)July 31, 2026January 31, 2026
Leasehold improvements$15,276 $14,140 
Furniture and fixtures6,453 6,453 
Computer equipment20,933 19,902 
Property and equipment, gross42,662 40,495 
Accumulated depreciation(37,839)(37,318)
Property and equipment, net$4,823 $3,177 
Depreciation expense was $0.5 million for each of the three months ended July 31, 2026 and 2025, and $1.0 million and $1.1 million for the six months ended July 31, 2026 and 2025, respectively.
Contract balances
The Company does not recognize revenue until its right to consideration is unconditional and therefore has no related contract assets. The Company records a receivable when revenue is recognized prior to payment and the Company has unconditional right to payment. Alternatively, when payment precedes the related services, the Company records a contract liability, or deferred revenue, until its performance obligations are satisfied. As of July 31, 2026 and January 31, 2026, the balance of deferred revenue was $3.1 million and $6.7 million, respectively. The balances are related to cash received in advance for up-front fees, interchange revenue arrangements, and other commuter deferred revenue. The Company expects to recognize approximately 82% of its balance of deferred revenue as revenue over the next 12 months and the remainder thereafter. Amounts expected to be recognized as revenue within a period of 12 months or less are classified as accrued liabilities in the Company's condensed consolidated balance sheets, with the remainder included within other long-term liabilities. Revenue recognized during the three and six months ended July 31, 2026 that was included in the balance of deferred revenue as of January 31, 2026 was $2.2 million and $5.3 million, respectively. The Company expects to satisfy its remaining obligations for these arrangements.
Leases
The components of net operating lease expense were as follows:
Three months ended July 31,Six months ended July 31,
(in thousands)
2026202520262025
Operating lease expense$2,159 $2,234 $4,368 $4,474 
Sublease income(968)(1,338)(2,344)(2,572)
Net operating lease expense$1,191 $896 $2,024 $1,902 
Other income, net
Other income, net, consisted of the following:
Three months ended July 31,Six months ended July 31,
(in thousands)2026202520262025
Interest income$1,760 $3,364 $3,647 $6,097 
Other miscellaneous income, net20 27 181 27 
Total other income, net$1,780 $3,391 $3,828 $6,124 
Supplemental cash flow information
Supplemental cash flow information related to the Company's operating leases was as follows:
Six months ended July 31,
(in thousands)20262025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$5,078 $5,075 
Right-of-use assets obtained in exchange for lease obligations$— $(90)