Fair Value of Financial Instruments

3 Months Ended

Apr. 30, 2026

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The Company's assets and liabilities measured at fair value on a recurring basis, by level, within the fair value hierarchy are as follows:

	April 30, 2026
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	29,165	$	—	$	—	$	29,165
Total assets	$	29,165	$	—	$	—	$	29,165
Liabilities:
Contingent consideration	$	—	$	—	$	7,000	$	7,000
Total liabilities	$	—	$	—	$	7,000	$	7,000
	January 31, 2026
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	36,227	$	—	$	—	$	36,227
Commercial paper			29,895				29,895
U.S. treasury securities	—		29,876		—		29,876
Total assets	$	36,227	$	59,771	$	—	$	95,998
Liabilities:
Contingent consideration	$	—	$	—	$	8,200	$	8,200
Total liabilities	$	—	$	—	$	8,200	$	8,200

The Company’s cash equivalents and marketable securities for the periods presented were valued using quoted market prices or alternative pricing sources and models utilizing observable market inputs and were classified as Level 1 or Level 2, accordingly.

The Company measured its contingent consideration associated with the Hearsay acquisition, on a recurring basis using significant unobservable inputs, classified as Level 3.

Contingent Consideration

The Company records contingent consideration resulting from a business combination at its fair value on the acquisition date. The Company generally determines the fair value of contingent consideration using the Real Options Method that employs a Monte Carlo simulation model. Each reporting period thereafter, these obligations are revalued and changes in their fair values are recorded within general and administrative expenses within the condensed consolidated statements of operations and comprehensive income. Changes in the fair value of the contingent consideration can result from changes in assumed discount periods and rates, and from changes pertaining to the estimated or actual achievement of the defined milestones. Significant judgment is employed in determining the appropriateness of these assumptions as of the acquisition date and for each subsequent period. Accordingly, future business and economic conditions, as well as changes in any of the assumptions described above, can materially impact the fair value and corresponding changes in fair value of the contingent consideration the Company records in any given period.

In connection with the Hearsay acquisition, the estimated fair value of the contingent consideration incorporates projected ARR values inclusive of revenue synergies and growth rates, as well as other key inputs. The key inputs as of April 30, 2026 are outlined below:

Volatility	12.6%
Revenue beta	0.28
Expected timing of payment	FY 2027
Discount rate	8.96% - 8.99%

A rollforward of the fair value of the contingent consideration liability for the three months ended April 30, 2026 is as follows:

(in thousands)
Balance as of January 31, 2026	$	8,200
Change in fair value	210
Payments made in the period	(1,410)
Balance as of April 30, 2026	$	7,000