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Fair Value Measurements (Tables)

3 Months Ended

Apr. 30, 2024

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables summarize the assets measured at fair value on a recurring basis as of January 31, 2024 and April 30, 2024 by level within the fair value hierarchy (in thousands):

			January 31, 2024
			Level 1						Level 2						Level 3						Total
Cash equivalents:
Money market funds			$	11,942					$	—					$	—					$	11,942
Total cash equivalents			$	11,942					$	—					$	—					$	11,942

			April 30, 2024
			Level 1						Level 2						Level 3						Total
Cash equivalents:
Money market funds			$	25,135					$	—					$	—					$	25,135
Total cash equivalents			$	25,135					$	—					$	—					$	25,135
Financial liability:
Warrants			$	—					$	—					$	1,656					$	1,656

Changes in Fair Value of Warrant Liability

The changes in the fair value of the warrant liability were as follows (in thousands):

Balance as of January 31, 2024						$	—
Issuance of Class B common stock warrants						2,222
Decrease in fair value of Class B common stock warrants						(566)
Balance as of April 30, 2024						$	1,656

Warrant Liabilities, Fair Value Assumptions

The value of the warrant liabilities are estimated using the Black-Scholes option-pricing model with the following assumptions:

			Three months ended April 30,
			2024
Expected stock price volatility			73% - 79%
Expected term			3.8 - 4.0 years
Risk-free interest rate			4.36% - 4.80%
Expected dividend yield			—

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.

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-Topic 820
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- 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
-Name Accounting Standards Codification
-Section 50
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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
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
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