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Fair Value Measurements (Tables)

3 Months Ended

Apr. 30, 2025

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, 2025 and April 30, 2025 by level within the fair value hierarchy (in thousands):

			January 31, 2025
			Level 1						Level 2						Level 3						Total
Cash equivalents:
Money market funds			$	15,056					$	—					$	—					$	15,056
Financial liability:
Warrant liability			$	—					$	—					$	11,208					$	11,208

			April 30, 2025
			Level 1						Level 2						Level 3						Total
Cash equivalents:
Money market funds			$	12,989					$	—					$	—					$	12,989
Financial liability:
Warrant liability			$	—					$	—					$	10,050					$	10,050

Changes in Fair Value of Warrant Liability

The change in the fair value of the warrant liability was as follows (in thousands):

Balance as of January 31, 2025						$	11,208
Change in fair value of Class B common stock warrants						(1,158)
Balance as of April 30, 2025						$	10,050

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,
			2025
Expected stock price volatility			69% - 72%
Expected term			2.8 - 3.6 years
Risk-free interest rate			3.58% - 4.32%
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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-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://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

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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/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
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