Revenue (Tables)
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6 Months Ended |
Jul. 31, 2026 |
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| Revenue from Contract with Customer [Abstract] |
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| Schedule of Contract Assets Deferred Revenue and Remaining Performance Obligations |
The portion of deferred revenue expected to be recognized in revenue beyond one year is included in deferred revenue, net of current portion in the condensed consolidated balance sheets. The following table provides information about the balances of and changes to deferred revenue for the following periods (in thousands):
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For the Six Months Ended July 31, |
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For the Three Months Ended July 31, |
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2026 |
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2025 |
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2026 |
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2025 |
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Deferred revenue at the end of the prior year, or at acquisition per the opening balance sheet |
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$ |
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14,581 |
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$ |
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3,725 |
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$ |
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13,423 |
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$ |
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5,223 |
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Revenue recognized during the current period included in beginning balance, post eliminations |
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(13,659 |
) |
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(2,577 |
) |
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(11,109 |
) |
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(2,555 |
) |
Deferred revenue during the period |
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17,150 |
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4,473 |
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15,758 |
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2,953 |
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Ending Balance |
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18,072 |
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5,622 |
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18,072 |
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5,622 |
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The following table provides information about the balances of and changes to contract assets for the following periods (in thousands):
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As of July 31, 2026 |
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As of January 31, 2026 |
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Contract Assets (in thousands) |
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Balance, beginning of period |
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$ |
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1,259 |
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$ |
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— |
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Balance, end of period |
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726 |
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1,259 |
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| Schedule of Primary Revenue Streams |
The Company’s primary revenue streams were as follows:
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Three Months Ended
July 31, |
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Six Months Ended
July 31, |
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2026 |
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2025 |
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2026 |
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2025 |
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(in thousands) |
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Subscription revenue |
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$ |
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10,989 |
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$ |
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3,248 |
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$ |
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19,516 |
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$ |
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6,270 |
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Marketplace revenue |
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2,079 |
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2,176 |
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7,039 |
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6,935 |
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Advertising revenue |
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10,575 |
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3,322 |
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21,200 |
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4,036 |
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Platform revenue |
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23,643 |
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8,746 |
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47,755 |
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17,241 |
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Platform solutions revenue |
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22,930 |
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7,427 |
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40,348 |
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11,234 |
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Total revenue |
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$ |
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46,573 |
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$ |
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16,173 |
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$ |
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88,103 |
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$ |
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28,475 |
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| Schedule of Breakdown of Cost of Revenue (Exclusive of Depreciation and Amortization) |
The breakdown of cost of revenue (exclusive of depreciation and amortization) is as follows:
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Three Months Ended
July 31, |
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Six Months Ended
July 31, |
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2026 |
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2025 |
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2026 |
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2025 |
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(in thousands) |
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Subscription revenue costs |
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$ |
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2,324 |
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$ |
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1,720 |
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$ |
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4,911 |
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$ |
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3,608 |
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Marketplace revenue costs |
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1,642 |
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2,403 |
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5,014 |
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6,213 |
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Advertising revenue costs |
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8,922 |
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2,241 |
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16,133 |
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2,964 |
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Platform revenue costs |
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12,888 |
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6,364 |
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26,058 |
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12,785 |
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Platform solutions revenue costs |
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16,908 |
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5,730 |
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31,839 |
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8,183 |
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Total cost of revenue (1) |
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$ |
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29,796 |
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$ |
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12,094 |
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$ |
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57,897 |
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$ |
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20,968 |
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(1) Excludes depreciation and amortization.
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