v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jan. 31, 2026
Jan. 31, 2025
Current assets:    
Cash and cash equivalents $ 440,805 $ 142,860
Cash segregated and on deposit for regulatory purposes 10,375 9,083
Due from clients 227,413 118,518
Accounts receivable 33,127 29,127
Client-held fractional shares 514,877 28,057
Other current assets 49,187 18,805
Total current assets 1,275,784 346,450
Deferred tax assets, net 119,749 60,194
Operating lease right-of-use asset 8,696 11,229
Property, software, and equipment, net 7,755 14,723
Other noncurrent assets 3,745 2,610
Total assets 1,415,729 435,206
Current liabilities:    
Accounts payable 7,299 6,467
Accrued liabilities 8,830 7,517
Due to clients 30,209 9,452
Payable to clearing broker 227,439 118,174
Current portion of operating lease liabilities 4,101 3,556
Fractional shares repurchase obligation 514,877 28,057
Total current liabilities 792,755 173,223
Operating lease liabilities, net of current portion 6,292 9,796
Other noncurrent liabilities 1,993 9,651
Total liabilities 801,040 192,670
Commitments and contingencies (Note 8)
Redeemable convertible preferred stock, $0.0001 par value per share; 0 and 85,490,483 shares authorized as of January 31, 2026 and January 31, 2025, respectively; 0 and 69,914,359 shares issued and outstanding as of January 31, 2026 and January 31, 2025, respectively; aggregate liquidation preference of $0 and $229,543 as of January 31, 2026 and January 31, 2025, respectively 0 227,198
Stockholders’ equity:    
Common stock, $0.0001 par value per share; 214,611,134 shares authorized as of January 31, 2026 and January 31, 2025; 151,782,411 and 41,532,599 shares issued as of January 31, 2026 and January 31, 2025; 150,305,463 and 40,110,106 shares outstanding as of January 31, 2026 and January 31, 2025, respectively 12 4
Treasury stock, at cost; 1,476,948 and 1,422,493 shares held as of January 31, 2026 and January 31, 2025, respectively (13,052) (12,593)
Additional paid-in capital 769,730 127,862
Accumulated deficit (142,001) (99,935)
Total stockholders’ equity 614,689 15,338
Total liabilities, redeemable convertible preferred stock, and stockholders’ equity $ 1,415,729 $ 435,206