Stock Warrants and Earnout (Tables)

12 Months Ended

Jan. 31, 2022

Equity [Abstract]

Fair Value Measurement Inputs and Valuation Techniques

The Level 3 fair value inputs used in the valuation of ViriCiti Earnout liability were as follows:

	January 31, 2022		August 11, 2021 (ViriCiti Acquisition Date)
Expected volatility	35.3	%	34.2	%
Risk-free interest rate	0.8	%	0.8	%
Expected term (years)	1.13		1.60

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		January 31, 2020
Expected volatility	84.3	%	80.5	%	58.4	%
Risk-free interest rate	0.0	%	0.1	%	1.6	%
Dividend rate	0.0	%	0.0	%	0.0	%
Expected term (years)	0		1.4		2.0

Schedule of Warrants

	January 31, 2022
	Outstanding Warrants			Expiration Date
	Number of Warrants	Exercise Price
Common Stock	21,727,177	$1.25 - $6.03		3/4/2022 – 8/6/2030
Common Stock	13,811,412	$	9.04	11/16/2028 – 2/14/2029
Total outstanding common stock warrants	35,538,589

	February 26, 2021 (Merger Date)
	Outstanding Warrants			Expiration Date
	Number of Warrants(1)	Exercise Price
Common Stock	24,709,575	$1.00 - $6.03		3/4/2022 - 8/6/2030
Common Stock	14,051,456	$	9.04	11/16/2028 – 2/14/2029
Total outstanding common stock warrants	38,761,031

______________

(1) The shares (and the warrants' exercise prices) subject to the Company's Legacy Warrants were restated to reflect the Exchange Ratio of approximately 0.9966 established in the Merger Agreement as discussed in Note 4.

	January 31, 2021
	Outstanding Warrants			Expiration Date
	Number of Warrants (1)	Exercise Price
Common Stock	22,351,053	$	6.03	3/4/2022 - 8/6/2030
Common Stock	14,051,462	$	9.04	11/16/2028 - 2/14/2029
Total outstanding common stock warrants	36,402,515

_____________

(1) The shares (and the warrants' exercise prices) subject to the Company's Legacy Warrants were restated to reflect the Exchange Ratio of approximately 0.9966 established in the Merger Agreement as discussed in Note 4.

The Private Placement Warrants were valued using the following assumptions under the BLM that assumes optimal exercise of the Company’s redemption option at the earliest possible date:

	January 31, 2022			February 26, 2021 (Merger Date)
Market price of public stock	$	13.85		$	30.83
Exercise price	$	11.50		$	11.50
Expected term (years)	4.1			5.0
Volatility	70.5		%	73.5		%
Risk-free interest rate	1.0		%	0.8		%
Dividend rate	0.0		%	0.0		%