XML 36 R28.htm IDEA: XBRL DOCUMENT
v3.22.1

Fair Value of Financial Assets and Liabilities (Tables) | 12 Months Ended
--- | ---
Jan. 31, 2022
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 considers factors specific to the asset or liability.
| January 31, 2022
(in thousands) | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |
Cash equivalents: money market funds | $ | 470,066 |  |  | $ | — |  |  | $ | — |
Restricted cash: money market funds | 5,875 |  |  | — |  | —
Total assets | $ | 475,941 |  |  | $ | — |  |  | $ | — |
Liabilities |  |  |  |  |
Public Warrants | 10,764 |  |  | — |  |  | — |
Private Placement Warrants | — |  |  | — |  |  | 12,460 |
Total liabilities | $ | 10,764 |  |  | $ | — |  |  | $ | 12,460 |
| January 31, 2021
(in thousands) | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |
Cash equivalents: money market funds | $ | 50,449 |  |  | $ | — |  |  | $ | — |
Restricted cash: money market funds | 5,165 |  |  | — |  |  | — |
Total assets | $ | 55,614 |  |  | $ | — |  |  | $ | — |
Liabilities |  |  |  |  |
Convertible notes | — |  |  | — |  |  | 101,212 |
Preferred stock warrant liability | — |  |  | — |  |  | 11,359 |
Total liabilities | $ | — |  |  | $ | — |  |  | $ | 112,571 |
Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following is a rollforward of balances for the Private Placement Warrants for the fiscal year ended January 31, 2022:
(in thousands) | Private Placement Warrants
Assumed in Business Combination | $ | 29,370 |
Change in fair value | (16,910) |
Fair value as of January 31, 2022 | $ | 12,460 |
The following is a rollforward of balances for the convertible notes for the fiscal years ended January 31, 2022, 2021 and 2020:
(in thousands) | Convertible Notes
Fair value as of February 1, 2019 | $ | — |
Issuance | 10,963 |
Change in fair value | (159) |
Fair value as of January 31, 2020 | 10,804 |
Issuance | 68,529 |
Extinguishment | (3,260) |
Change in fair value | 25,139 |
Fair value as of January 31, 2021 | 101,212 |
Change in fair value | 13,142 |
Conversion to Class A Common Stock | (114,354) |
Fair value as of January 31, 2022 | $ | — |
The following is a rollforward of balances for the preferred stock warrant liability for the fiscal years ended January 31, 2022, 2021 and 2020:
(in thousands) | Preferred Stock Warrant Liability
Fair value as of February 1, 2019 | $ | 3,897 |
Issuance | — |
Change in fair value | (48) |
Fair value as of January 31, 2020 | 3,849 |
Issuance | 2,596 |
Change in fair value | 4,914 |
Fair value as of January 31, 2021 | 11,359 |
Change in fair value | 12,118 |
Reclassification to stockholders’ equity upon conversion to Class A common stock warrants | (23,477) |
Fair value as of January 31, 2022 | $ | — |
Fair Value Measurement Inputs and Valuation Techniques | The following table provides quantitative information associated with the fair value measurement of the convertible notes as of January 31, 2021:
| Fair Value as of January 31, 2021 |  | Valuation Technique |  | Unobservable Input Description |  | Input
| (in thousands)
Convertible Notes | $ | 101,212 |  |  | Probability-weighted |  | Estimated time to liquidation |  | 0.2 - 0.5 years
|  |  |  |  | Volatility |  | 35.0%
|  |  |  |  | Discount Yield |  | 16.0%
|  |  |  |  | Risk-free interest rate |  | 0.1%
The following table provides quantitative information associated with the fair value measurement of the preferred stock warrant liability as of January 31, 2021:
| Fair Value as of January 31, 2021 |  | Valuation Technique |  | Unobservable Input Description |  | Input
| (in thousands)
Preferred Stock Warrant Liability | $ | 11,359 |  |  | Option Pricing Method |  | Term |  | 0.5 - 1.75 years
|  |  |  |  | Volatility |  | 60%
|  |  |  |  | Discount for lack of marketability |  | 10% - 17%

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration