Stock Warrants (Tables)

3 Months Ended

12 Months Ended

Apr. 30, 2021

Jan. 31, 2021

Stock Warrants And Earnouts [Abstract]

Summary of Fair Value Measurement Inputs and Valuation Techniques

The Level 3 fair value inputs used in the recurring valuation of the redeemable convertible preferred stock warrant liability were as follows:

	February 26, 2021 (Merger Date)			January 31, 2021
Expected volatility		84.3	%		80.5	%
Risk-free interest rate		0.0	%		0.1	%
Dividend rate		0.0	%		0.0	%
Expected term (years)		0.0			1.4

The Level 3 fair value inputs used in the recurring valuation of the redeemable convertible preferred stock warrant liability were as follows:

	January 31,
	2021			2020			2019
Expected volatility		80.5	%		58.4	%		65.0	%
Risk-free interest rate		0.1	%		1.6	%		2.8	%
Dividend rate		0.0	%		0.0	%		0.0	%
Expected term (years)		1.4			2.0			2.0

Summary of Fair Value Private Placement Warrants Basis Valuation Techniques

The Private Placement Warrants were valued using the following assumptions under the Binomial-Lattice Model (“BLM”) that assumes optimal exercise of the Company’s redemption option at the earliest possible date:

	April 30, 2021			February 26, 2021
Market price of public stock		25.3			30.8
Exercise price		11.5			11.5
Expected term (years)		4.8			5.0
Volatility		73.2	%		73.5	%
Risk-free interest rate		0.8	%		0.8	%
Dividend rate		0.0	%		0.0	%

Summary of Assumed Public Warrants

Activity of warrants is set forth below:

	Legacy Common and Preferred Stock Warrants (1)			Private Placement Warrants			Public Warrants			Total Common Stock Warrants (1)
Outstanding as of January 31, 2021		38,761,031			—			—			38,761,031
Common Stock Warrants as Part of the Merger		—			6,521,568			10,470,562			16,992,130
Warrants Exercised		(1,097,305	)		(4,347,712	)		(6,413,057	)		(11,858,074	)
Outstanding as of April 30, 2021		37,663,726			2,173,856			4,057,505			43,895,087

(1) The shares (and the warrants’ exercise prices) subject to the Company’s Legacy common and preferred stock warrants were restated to reflect the exchange ratio of approximately 0.9966 established in the Merger Agreement as discussed in Note 3.

Summary of Fair Value Earnout Liability Basis Valuation Techniques

Assumptions used in the valuation are described below.

	March 12, 2021			February 26, 2021
Current stock price		27.84			30.83
Expected volatility		72.00	%		71.60	%
Risk-free interest rate		0.85	%		0.75	%
Dividend rate		0.00	%		0.00	%
Expected term (years)		4.96			5.00

Schedule of Warrants Issued and Outstanding

Warrants issued and outstanding as of January 31, 2021 and 2020 consisted of the following:

Common Stock Warrants

	January 31, 2021
	Outstanding Warrants
	Number of Warrants		Exercise Price		Expiration Date
Common Stock		22,351,053	$	6.02		7/31/2030 – 8/6/2030
Common Stock		14,051,462	$	9.03		11/16/2028 – 2/14/2029
Total outstanding common stock warrants		36,402,515

	January 31, 2020
	Outstanding Warrants
	Number of Warrants		Exercise Price		Expiration Date
Common Stock		14,051,462	$	9.03		11/16/2028 – 2/14/2029
Total outstanding common stock warrants		14,051,462

Schedule of Outstanding Redeemable Convertible Preferred Stock Warrants

	January 31, 2021 and 2020
	Outstanding Warrants				Expiration Date
	Number of Warrants		Exercise Price
Series B Preferred Stock		2,685	$	107.52		4/30/2021
Series D Preferred Stock		1,436,932	$	1.24		4/20/2022 – 1/24/2024
Series E Preferred Stock		806,375	$	1.24		12/24/2024 – 7/15/2025
Total outstanding redeemable convertible preferred stock warrants		2,245,992

Schedule of Liability of Warrants Subject to Re Measurement

The liability associated with these warrants was subject to remeasurement at each balance sheet date using the Level 3 fair value inputs and was as follows:

	Year Ended January 31,
	2021		2020		2019
	(in thousands)
Fair value at beginning of period	$	2,718	$	1,843	$	1,455
Change in fair value		73,125		875		388
Fair value at end of period	$	75,843	$	2,718	$	1,843