Credit Facility

6 Months Ended

Jul. 31, 2022

Debt Disclosure [Abstract]

Credit Facility

6. Credit Facility

On November 23, 2020, the Company entered into a loan and security agreement with HSBC Ventures USA Inc., (the "Loan Agreement"). This Loan Agreement provided the Company a revolving line of credit, which expires on November 23, 2023. Under the Loan Agreement, the Company was able to borrow up to $50.0 million. Interest on any drawdown under the revolving line of credit would accrue at the adjusted LIBOR rate plus 3.00%. The Company would also incur a commitment fee of 0.30% for any unused portion of the credit facility. On July 28, 2022, the Company terminated the Loan Agreement in accordance with the terms of the agreement. As of the date of termination and January 31, 2022, the Company had no balance outstanding under the Loan Agreement.