The Company leases office facilities under non-cancellable operating lease arrangements, expiring at various dates through 2030. The Company’s leases generally provide for periodic rent increases and may contain escalation clauses, extension options, or renewal options. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably certain at lease commencement. The Company’s lease agreements generally do not contain any material residual value guarantees or material restrictive covenants.

The components of lease costs, lease term, and discount rate for operating leases are as follows for the three and six months ended July 31, 2026 and 2025:


	Three Months Ended July 31,				Six Months Ended July 31,
	2026		2025		2026		2025
		(in thousands)
Operating lease costs	$	228	$	448	$	903	$	763
Variable lease costs		138		67		308		122
Total lease cost	$	366	$	515	$	1,211	$	885

Weighted Average Remaining Lease Term		3.61		4.08		3.61		4.08
Weighted Average Discount Rate		11.27%		11.24%		11.27%		11.24%

As of July 31, 2026 and January 31, 2026, the weighted average remaining lease term was 3.61 years and 4.08 years, respectively, and the weighted average discount rate was 11.27% and 11.24%, respectively.

Supplemental balance sheet information related to operating leases consisted of the following as of July 31, 2026 and January 31, 2026:


	July 31, 2026		January 31, 2026
	(in thousands)
Operating lease ROU assets – related parties	$	4,166	$	5,074
Operating lease ROU assets – third parties		3,173		3,631
Total operating lease ROU assets	$	7,339	$	8,705

Operating lease liabilities – related parties	$	4,264	$	5,153
Operating lease liabilities – third parties		3,384		3,848
Total operating lease liabilities	$	7,648	$	9,001

Supplemental cash flow information related to operating leases were as follows:


	Six Months Ended July 31,
	2026		2025
	(in thousands)
Cash payments for operating leases	$	1,333	$	668

As of July 31, 2026, the future maturities of long-term operating lease liabilities are as follows:


	Maturity of Operating Lease Liabilities
Year Ending January 31:	(in thousands)
2027 (remaining)	$	1,347
2028		2,668
2029		2,545
2030		1,635
2031		1,108
Total		9,303
Less: imputed interest		(1,655	)
Present value of lease liabilities		7,648
Less: current obligations		(1,948	)
Long-term obligations under leases	$	5,700