Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jul. 31, 2023

Jun. 30, 2022

Accounting Policies [Line Items]

Revenues Earned by Timing of Revenue

The table below provides revenues earned by timing of revenue (in thousands).

	Successor		Predecessor		Successor		Predecessor
Revenue Recognition Timing	Three months ended July 31, 2023		Three months ended July 31, 2022		Six months ended July 31, 2023		Six months ended July 31, 2022
Over time	$	46,365	$	14,690	$	88,574	$	27,468
Point in time		15,870		462		19,195		1,275
Total	$	62,235	$	15,152	$	107,769	$	28,743

Disaggregation of Revenue

The table below provides revenues earned by line of service (in thousands).

	Successor		Predecessor		Successor		Predecessor
Revenue Line	Three months ended July 31, 2023		Three months ended July 31, 2022		Six months ended July 31, 2023		Six months ended July 31, 2022
Subscription revenue	$	23,220	$	14,690	$	41,443	$	27,468
Services revenue
Breach		37,988		—		64,138		—
Other services		1,027		462		2,188		1,275
Total services revenue		39,015		462		66,326		1,275
Total	$	62,235	$	15,152	$	107,769	$	28,743

The table below provides revenues earned based on geographic locations of our customers (in thousands).

	Successor		Predecessor		Successor		Predecessor
Country	Three months ended July 31, 2023		Three months ended July 31, 2022		Six months ended July 31, 2023		Six months ended July 31, 2022
United States	$	57,486	$	11,423	$	98,580	$	21,557
Other		4,749		3,729		9,189		7,186
Total	$	62,235	$	15,152	$	107,769	$	28,743

Changes in Fair Value of Warrants

A summary of the changes in the fair value of warrants is as follows (in thousands):

	Successor
	Public			Private
Warrant liabilities - January 31, 2023	$	1,373		$	1,208
Issuance of warrants		—			126
Gain due to change in fair value of warrants		(1,028	)		(924	)
Warrant liabilities - July 31, 2023	$	345		$	410
	Predecessor
	Public			Private
Warrant liability - January 31, 2022	$	—		$	10,709
Issuance of warrants		—			519
Exercise of warrants		—			(5,900	)
Loss due to change in fair value of warrants	—				2,059
Warrant liability - July 31, 2022	$	—		$	7,387

Summary of Changes in Fair Value of Sponsor Earnout Shares

A summary of the changes in the fair value of the Sponsor Earnout Shares is included below (in thousands). There is no balance for the Predecessor as of July 31, 2022, as the earnout period began on the Closing Date of the Business Combination, August 3, 2022.

	Successor
Sponsor earnout shares - January 31, 2023	$	2,445
Gain due to change in fair value of sponsor earnout shares		(1,941	)
Sponsor earnout shares - July 31, 2023	$	504

Summary of Changes in Fair Value of Purchase Consideration Liability

A summary of the changes in the fair value of the purchase consideration liability is included below (in thousands). There is no balance for the Predecessor as of July 31, 2022, as the LookingGlass Business Combination occurred on April 21, 2023.

	Successor
Purchase consideration liability - January 31, 2023	$	—
Business acquisition		9,827
Adjustment related to business acquisition		405
Gain due to change in fair value of purchase consideration liability		(1,206	)
Purchase consideration liability - July 31, 2023	$	9,026

Computation of Basic Loss Per Share Attributable to Common Stockholders

The following table sets forth computation of basic loss per share attributable to common stockholders (in thousands, except share and per share data):

	Successor			Predecessor			Successor			Predecessor
	Three months ended July 31, 2023			Three months ended July 31, 2022			Six months ended July 31, 2023			Six months ended July 31, 2022
Numerator:
Net loss	$	(16,836	)	$	(11,255	)	$	(34,815	)	$	(21,458	)
Net loss per share attributable to common    stockholders	$	(16,836	)	$	(11,255	)	$	(34,815	)	$	(21,458	)
Denominator:
Weighted-average common stock outstanding		123,354,228			43,109,352			120,668,451			43,038,331
Net loss per share attributable to common stockholders    - basic and diluted	$	(0.14	)	$	(0.26	)	$	(0.29	)	$	(0.50	)

Summary of Anti-dilutive Securities Excluded from Computation of Diluted Net Loss per Common Share

The following is a summary of the weighted average common stock equivalents, for the securities outstanding during the respective periods, that have been excluded from the computation of diluted net loss per common share, as their effect would be anti-dilutive:

	Successor		Predecessor		Successor		Predecessor
	Three months ended July 31, 2023		Three months ended July 31, 2022		Six months ended July 31, 2023		Six months ended July 31, 2022
Preferred stock (on an as-converted basis)	—			241,244,382	—			241,205,423
Common stock options outstanding		7,023,583		22,220,605		7,205,348		22,177,042
Warrants to purchase preferred stock, all series	—			5,803,231	—			5,840,764
Public and private warrants to purchase common stock		16,342,106	—			16,285,944	—
Sponsor earnout shares		1,293,750	—			1,293,750	—
Restricted stock units		7,793,543	—			6,484,960	—

Schedule of Redeemable Convertible Preferred Stock

The Predecessor’s redeemable convertible preferred stock consists of (in thousands except share data):

	Successor			Predecessor				Successor			Predecessor
	Three months ended July 31, 2023			Three months ended July 31, 2022				Six months ended July 31, 2023			Six months ended July 31, 2022
	Shares Issued and Outstanding	Amount		Shares Issued and Outstanding		Amount		Shares Issued and Outstanding	Amount		Shares Issued and Outstanding		Amount
Convertible preferred stock—Series E, $0.00001    par value—authorized 19,033,653 shares;    (liquidation preference $28,354,249)	—	$	—		15,767,013	$	36,291	—	$	—		15,767,013	$	36,291
Convertible preferred stock—Series D, $0.00001    par value—authorized 14,833,942 shares;    (liquidation preference $21,222,496)	—	—			13,871,547		21,067	—	—			13,871,547		21,067
Convertible preferred stock—Series D-2, $0.00001    par value—authorized 993,868 shares    (liquidation preference $1,216,439)	—	—			993,868		1,451	—	—			993,868		1,451
Convertible preferred stock—Series D-1, $0.00001    par value—authorized shares 5,878,303    (liquidation preference $8,094,053)	—	—			5,878,303		8,171	—	—			5,878,303		8,171
Convertible preferred stock—Series C-1, $0.00001    par value—authorized 16,208,756 shares    (liquidation preference $14,037,000)	—	—			11,882,605		16,836	—	—			11,882,605		16,836
Convertible preferred stock—Series C, $0.00001    par value—authorized 21,124,700 shares    (liquidation preference $19,999,999)	—	—			21,124,699		19,899	—	—			21,124,699		19,899
Convertible preferred stock—Series B, $0.00001    par value—authorized 26,914,949 shares    (liquidation preference $22,124,088)	—	—			26,914,949		22,047	—	—			26,914,949		22,047
Convertible preferred stock—Series A, $0.00001    par value—authorized 16,122,188 shares    (liquidation preference $10,246,261)	—	—			15,997,285		10,159	—	—			15,997,285		10,159
Convertible preferred stock—Series seed, $0.00001    par value—authorized 9,198,372 shares    (liquidation preference $2,285,795)	—	—			9,198,372		2,208	—	—			9,198,372		2,208
	—	$	—		121,628,641	$	138,129	—	$	—		121,628,641	$	138,129

ID Experts Holdings, Inc. and Subsidiary [Member]

Accounting Policies [Line Items]

Disaggregation of Revenue

The following table illustrates the timing of the Company’s revenue recognition:

	Three Months Ended June 30, 2022			Six Months Ended June 30, 2022
Breach - point in time		15.3	%		13.1	%
Breach - over time		80.8	%		82.9	%
Membership services - over time		3.9	%		4.0	%

Computation of Basic Loss Per Share Attributable to Common Stockholders

The following table present the calculations of basic and diluted EPS for the three and six months ended June 30, 2022 (in thousands, except per share data):

	Three Months Ended June 30, 2022		Six Months Ended June 30, 2022
Net income (loss) applicable to common equity	$	229	$	(29	)
Less: undistributed earnings allocated to participating securities		21		21
Net income (loss) applicable to common stockholders	$	250	$	(8	)
Total weighted-average common shares outstanding		12,756,222		12,706,627
Net income (loss) per share, basic and diluted	$	0.02	$	-