| Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis |
The following tables summarize the fair value of financial assets and liabilities and their classification by level of input within the fair value hierarchy as of January 31, 2026 and January 31, 2025 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Financial Assets and Liabilities at Fair Value | | Total | | Level 1 | | Level 2 | | Level 3 | | January 31, 2026 | | | | | | | | Assets | | | | | | | | | Cash equivalents | | | | | | | | Money market funds | $ | 406,837 | | | $ | 406,837 | | | $ | — | | | $ | — | | | Certificates of deposit | 2,600 | | | 2,600 | | | — | | | — | | Client-held fractional shares | 514,877 | | | 514,877 | | | — | | | — | | | Other current assets | | | | | | | | Proprietary inventory | 1,500 | | | 1,500 | | | — | | | — | | | Total financial assets at fair value | $ | 925,814 | | | $ | 925,814 | | | $ | — | | | $ | — | | Liabilities | | | | | | | | | | | | | | | | | Other noncurrent liabilities | | | | | | | | | | | | | | | | | Warrant liabilities | 1,993 | | | — | | | — | | | 1,993 | | | Fractional shares repurchase obligation | 514,877 | | | 514,877 | | | — | | | — | | | Total financial liabilities at fair value | $ | 516,870 | | | $ | 514,877 | | | $ | — | | | $ | 1,993 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Financial Assets and Liabilities at Fair Value | | Total | | Level 1 | | Level 2 | | Level 3 | | January 31, 2025 | | | | | | | | Assets | | | | | | | | | Cash equivalents | | | | | | | | Money market funds | $ | 118,708 | | | $ | 118,708 | | | $ | — | | | $ | — | | Certificates of deposit | 2,600 | | | 2,600 | | | — | | | — | | Client-held fractional shares | 28,057 | | | 28,057 | | | — | | | — | | | Other current assets | | | | | | | | Proprietary inventory | 302 | | | 302 | | | — | | | — | | | Total financial assets at fair value | $ | 149,667 | | | $ | 149,667 | | | $ | — | | | $ | — | | Liabilities | | | | | | | | | | | | | | | | Other noncurrent liabilities | | | | | | | | SAFEs | 6,141 | | | — | | | — | | | 6,141 | | Warrant liabilities | 3,510 | | | — | | | — | | | 3,510 | | Fractional shares repurchase obligation | 28,057 | | | 28,057 | | | — | | | — | | | Total financial liabilities at fair value | $ | 37,708 | | | $ | 28,057 | | | $ | — | | | $ | 9,651 | |
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| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation |
The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial instruments that are measured at fair value on a recurring basis (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Convertible Note | | Warrant Liabilities | | SAFEs | | Total | Balance at January 31, 2024 | $ | 46,953 | | | $ | 2,832 | | | $ | 4,843 | | | $ | 54,628 | | Mark-to-market adjustment | $ | (16,927) | | | $ | 678 | | | $ | 1,298 | | | $ | (14,951) | | | Repayment of interest | $ | (904) | | | $ | — | | | $ | — | | | $ | (904) | | Repayment of principal | $ | (29,122) | | | $ | — | | | $ | — | | | $ | (29,122) | | Balance at January 31, 2025 | $ | — | | | $ | 3,510 | | | $ | 6,141 | | | $ | 9,651 | | Mark-to-market adjustment | — | | | (1,517) | | | 66 | | | (1,450) | | | Settlement (conversion to common stock) | — | | | | | (6,207) | | | (6,207) | | | | | | | | | | | | | | | | | | | Balance at January 31, 2026 | $ | — | | | $ | 1,993 | | | $ | — | | | $ | 1,993 | |
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