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 $8.5 million and $6.1 million as of July 31, 2026 and January 31, 2026, respectively.

The restricted cash and cash equivalents balances as of July 31, 2026 primarily consisted of $5.4 million of collateral money market investments for the Company’s headquarters and other office operating leases. The restricted cash and cash equivalents balances as of January 31, 2026 primarily consisted of $4.0 million of collateral money market investments for the Company’s headquarters and other 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 July 31, 2026 and January 31, 2026 is as follows:


(in thousands)	July 31, 2026		January 31, 2026
Cash and cash equivalents	$	415,130	$	229,441
Restricted cash and cash equivalents, current		1,891		642
Restricted cash and cash equivalents, non-current		6,607		5,471
Total cash, cash equivalents, and restricted cash and cash equivalents	$	423,628	$	235,554

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


	Cost or		July 31, 2026
	Amortized		Gross Unrealized
(in thousands)	Cost		Gains		Losses			Fair Value
U.S. Treasury securities	$	252,662	$	5	$	(494	)	$	252,173
Commercial paper		6,532		1		(4	)		6,529
Corporate bonds		191,839		27		(280	)		191,586
Total short-term investments	$	451,033	$	33	$	(778	)	$	450,288


	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 July 31, 2026 and January 31, 2026:


	July 31, 2026				January 31, 2026
(in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in 1 year or less	$	260,437	$	260,083	$	270,349	$	270,567
Due in 1-2 years		190,596		190,205		139,885		140,082
Total short-term investments	$	451,033	$	450,288	$	410,234	$	410,649

Property and equipment, net consists of the following:


(in thousands)	July 31, 2026			January 31, 2026
Satellites	$	238,717		$	244,705
Satellites in process and not placed into service		94,913			79,114
Leasehold improvements		22,180			17,544
Ground stations and ground station equipment		24,023			22,675
Office furniture, equipment and fixtures		18,680			13,909
Computer equipment and purchased software		11,443			10,605
Total property and equipment, gross	$	409,956		$	388,552
Less: Accumulated depreciation		(233,866	)		(237,979	)
Total property and equipment, net	$	176,090		$	150,573

Total depreciation expense for the three and six months ended July 31, 2026 was $7.7 million and $16.0 million, respectively, of which $6.8 million and $14.1 million, respectively, was depreciation expense specific to satellites. Total depreciation expense for the three and six months ended July 31, 2025 was $8.4 million and $17.4 million, respectively, of which $7.3 million and $15.4 million, respectively, was depreciation expense specific to satellites.

Amortization expense for capitalized internal-use software for the three and six months ended July 31, 2026 was $1.3 million and $2.6 million, respectively. Amortization expense for capitalized internal-use software for the three and six months ended July 31, 2025 was $0.7 million and $1.4 million, respectively.

Goodwill and intangible assets consists of the following:


	July 31, 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	$	32,529	$	(18,263	)	$	339	$	14,605	$	32,530	$	(16,659	)	$	587	$	16,458
Image library		26,407		(16,070	)		380		10,717		21,804		(15,098	)		237		6,943
Customer relationships		7,143		(5,075	)		75		2,143		7,143		(4,811	)		124		2,456
Trade names and other		7,139		(6,211	)		38		966		6,389		(5,651	)		38		776
Total intangible assets	$	73,218	$	(45,619	)	$	832	$	28,431	$	67,866	$	(42,219	)	$	986	$	26,633
Goodwill	$	139,881	$	—		$	2,820	$	142,701	$	139,881	$	—		$	3,571	$	143,452

Amortization expense for intangible assets for the three and six months ended July 31, 2026 was $1.8 million and $3.4 million, respectively. Amortization expense for intangible assets for the three and six months ended July 31, 2025 was $1.5 million and $2.9 million, respectively. No impairment charges were recognized related to intangible assets (including goodwill) for the three and six months ended July 31, 2026 and 2025.

Accrued liabilities and other current liabilities consist of the following:


(in thousands)	July 31, 2026		January 31, 2026
Deferred R&D service liability (see Note 7)	$	4,308	$	4,723
Payroll and related expenses		7,737		13,891
Deferred hosting costs		5,009		4,954
Withholding taxes and other taxes payable		6,913		6,372
Litigation contingency accruals (see Note 8)		11,000		12,530
Other accruals		21,111		13,404
Total accrued and other current liabilities	$	56,078	$	55,874