INCOME TAXES (Tables)

12 Months Ended

Jan. 31, 2017

INCOME TAXES

Summary of components of deferred tax assets

Significant components of the Company’s deferred tax assets were as follows (in thousands):

	January 31,
Deferred tax assets:	2017		2016
Net operating loss carryforwards	$	15,618	$	7,727
Stock-based compensation expense		908		577
Tax credit carryforwards		576		311
Other		194		216
Total deferred tax assets		17,296		8,831
Less: valuation allowance		(17,296)		(8,831)
Net deferred tax assets	$	—	$	—

Schedule of reconciliation of income taxes at the federal statutory rate to the actual income tax provision

A reconciliation of income taxes provided at the federal statutory rate ( 34% ) to the actual income tax provision was as follows (in thousands):

	Year ended
	January 31,
	2017		2016
Income tax benefit computed at U.S. statutory rate	$	(6,258)	$	(5,302)
State income tax (net of federal benefit)		(1,196)		(838)
Research and development credits		(125)		(128)
Change in valuation allowance		7,342		5,904
Other		239		368
Provision for income taxes	$	2	$	4