v3.26.1
Fair Value of Financial Assets and Liabilities (Tables)
 12 Months Ended
Jan. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires management to make judgments and consider factors specific to the asset or liability.

 

 

January 31, 2026

 

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

Money market funds

 

$

99,181

 

 

$

—

 

 

$

—

 

Corporate bonds

 

 

—

 

 

 

2,584

 

 

 

—

 

Restricted cash equivalents: money market funds

 

 

5,926

 

 

 

—

 

 

 

—

 

Short-term investments:

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

212,897

 

 

 

—

 

 

 

—

 

Commercial paper

 

 

—

 

 

 

4,601

 

 

 

—

 

Corporate bonds

 

 

—

 

 

 

193,151

 

 

 

—

 

Total assets

 

$

318,004

 

 

$

200,336

 

 

$

—

 

Liabilities

 

 

 

 

 

 

 

 

 

Public Warrants

 

$

128,363

 

 

$

—

 

 

$

—

 

Private Placement Warrants

 

 

—

 

 

 

—

 

 

 

44,945

 

Total liabilities

 

$

128,363

 

 

$

—

 

 

$

44,945

 

 

 

January 31, 2025

 

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

Assets

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

Money market funds

 

$

29,054

 

 

$

—

 

 

$

—

 

Restricted cash equivalents: money market funds

 

 

10,350

 

 

 

—

 

 

 

—

 

Short-term investments:

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

 

13,095

 

 

 

—

 

 

 

—

 

Commercial paper

 

 

—

 

 

 

4,290

 

 

 

—

 

Corporate bonds

 

 

—

 

 

 

84,528

 

 

 

—

 

Certificates of deposit

 

 

—

 

 

 

2,114

 

 

 

 

Total assets

 

$

52,499

 

 

$

90,932

 

 

$

—

 

Liabilities

 

 

 

 

 

 

 

 

 

Public Warrants

 

$

9,177

 

 

$

—

 

 

$

—

 

Private Placement Warrants

 

 

—

 

 

 

—

 

 

 

8,900

 

Contingent consideration for acquisitions

 

 

—

 

 

 

—

 

 

 

7,558

 

Total liabilities

 

$

9,177

 

 

$

—

 

 

$

16,458

 
Schedule of Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following is a roll-forward of Level 3 liabilities measured at fair value for the fiscal years ended January 31, 2026 and 2025:

 

(in thousands)

 

Private
Placement
Warrants

 

 

Technical
Milestone
Contingent
Consideration(1)

 

 

Customer
Contract
Earnout
Contingent
Consideration(1)

 

 

Customer
Consent
Escrow
Contingent
Consideration(1)

 

Fair value at end of year, January 31, 2024

 

$

1,305

 

 

$

5,114

 

 

$

1,926

 

 

$

5,851

 

Additions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Payments

 

 

—

 

 

 

—

 

 

 

(1,270

)

 

 

(7,500

)

Change in fair value

 

 

7,595

 

 

 

866

 

 

 

922

 

 

 

1,649

 

Fair value at end of year, January 31, 2025

 

$

8,900

 

 

$

5,980

 

 

$

1,578

 

 

$

—

 

Additions

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Payments

 

 

—

 

 

 

(3,250

)

 

 

(1,570

)

 

 

—

 

Transfers out of Level 3 (2) (3)

 

 

(5,734

)

 

 

(2,919

)

 

 

(284

)

 

 

—

 

Change in fair value

 

 

41,779

 

 

 

189

 

 

 

276

 

 

 

—

 

Fair value at end of year, January 31, 2026

 

$

44,945

 

 

$

—

 

 

$

—

 

 

$

—

 

 

(1) The current portion of the contingent consideration liabilities balances of $4.7 million as of January 31, 2025, is included within accrued and other current liabilities. Changes in fair value of the contingent consideration liability for the Salo Sciences technical milestone payments are included within research and development expenses. Changes in fair value of the Salo Sciences contingent consideration liability for customer contract earnout payments are included within sales and marketing expenses. Changes in fair value of the contingent consideration liability for the Sinergise acquisition customer consent escrow payments are included within general and administrative expenses.

 

(2) During the fiscal year ended January 31, 2026, the Company transferred 2,966,666 Private Placement Warrants from Level 3 to Level 1. The warrants were transferred to Level 1 due to the removal of the restrictive legends from the Private Placement Warrants, resulting in such warrants being able to be sold in the active market. The Company's policy is to recognize transfers between fair value hierarchy levels at the beginning of the reporting period during which the transfer occurred.

 

(3) During the fiscal year ended January 31, 2026, the Company transferred the contingent consideration liabilities for technical milestone payments and customer contract earnout payments out of Level 3 to a legal contingency accrual in accordance with ASC 450. The liability was transferred due to the probable settlement expected to extinguish any contractual amounts owed for the acquisition, inclusive of the contingent consideration liabilities balance. Refer to Note 10.