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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jan. 31, 2024
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents
The reconciliation of cash, cash equivalents, and restricted cash to amounts presented in the consolidated statements of cash flows were as follows:
January 31,
202420232022
(in thousands)
Cash and cash equivalents$327,410 $264,162 $315,235 
Restricted cash30,400 30,400 400 
Total cash, cash equivalents, and restricted cash$357,810 $294,562 $315,635 
Restrictions on Cash and Cash Equivalents
The reconciliation of cash, cash equivalents, and restricted cash to amounts presented in the consolidated statements of cash flows were as follows:
January 31,
202420232022
(in thousands)
Cash and cash equivalents$327,410 $264,162 $315,235 
Restricted cash30,400 30,400 400 
Total cash, cash equivalents, and restricted cash$357,810 $294,562 $315,635 
Investment
All of the short-term investments in U.S. Treasury securities have matured and no short-term investments remain outstanding as of January 31, 2024. As of January 31, 2023, short-term investments consisted of the following:
January 31, 2023
Amortized Cost(1)
Gross Unrealized GainsGross Unrealized LossesFair Value
(in thousands)
U.S. Treasury Securities$105,415 $— $(449)$104,966 
_______________
(1) Amortized cost and fair value amounts included interest receivable of $0.5 million.
Accounts Receivable, Allowance for Credit Loss The change in the allowance for expected credit losses for the years ended January 31, 2024, 2023, and 2022 was as follows:
Beginning
Balance
Change in Provision
Write-offsEnding
Balance
(in thousands)
Year ended January 31, 2024
Allowance for expected credit losses$10,000 $6,026 $(2,026)$14,000 
Year ended January 31, 2023
Allowance for expected credit losses$5,584 $6,353 $(1,937)$10,000 
Year ended January 31, 2022
Allowance for expected credit losses$2,000 $3,835 $(251)$5,584 
Schedule of Property and Equipment, Net Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets, as follows:
Useful Lives
Furniture and fixtures
3 to 5 years
Computers and software
3 to 5 years
Machinery and equipment
3 to 5 years
Tooling
3 to 5 years
Useful Lives
Leasehold improvementsShorter of the estimated lease term or useful life
Owned and operated systems
5 to 7 years
Property and equipment, net consisted of the following:
January 31,
20242023
(in thousands)
Furniture and fixtures$1,718 $1,244 
Computers and software8,520 7,164 
Machinery and equipment35,954 25,144 
Tooling15,852 13,782 
Leasehold improvements9,828 9,357 
Owned and operated systems27,723 24,119 
Construction in progress2,310 2,790 
101,905 83,600 
Less: Accumulated depreciation(59,459)(43,554)
Total Property and Equipment, Net$42,446 $40,046 
The following table presents the depreciation expense related to fixed assets:
Year ended January 31,
202420232022
(in thousands)
Depreciation Expense$16,345 $13,404 $11,840 
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
As of January 31, 2024, there were no assets or liabilities that were measured at fair value on a recurring basis. As of January 31, 2023, the Company’s assets and liabilities that were measured at fair value on a recurring basis were as follows:
Fair Value Measured as of January 31, 2023
Level 1Level 2Level 3Total
( in thousands)
Assets
Money market funds$133,979 $— $— $133,979 
U.S. Treasury securities
— 104,966 — 104,966 
Total financial assets$133,979 $104,966 $— $238,945 
Schedule of Deferred Revenue
The following table shows the total deferred revenue for each period presented.
January 31, 2024January 31, 2023
(in thousands)
Total deferred revenue$231,439 $198,610 
The following table shows the revenue recognized that was included in the deferred revenue balance at the beginning of the period.
Year Ended January 31,
202420232022
(in thousands)
Total deferred revenue recognized$88,777 $77,142 $40,934 
Deferred Policy Acquisition Costs
Changes in the deferred contract acquisition costs during the years ended January 31, 2024 and 2023 were as follows:
(in thousands)
Balance as of January 31, 2022
$7,129 
Capitalization of deferred contract acquisition costs3,374 
Amortization of deferred contract acquisition costs(2,361)
Balance as of January 31, 2023
$8,142 
Capitalization of deferred contract acquisition costs3,711 
Amortization of deferred contract acquisition costs(2,859)
Balance as of January 31, 2024
$8,994 
Deferred acquisition costs capitalized on the consolidated balance sheets were as follows:
January 31
20242023
(in thousands)
Deferred contract acquisition costs, current$3,013 $2,598 
Deferred contract acquisition costs, noncurrent5,981 5,544 
Total deferred contract acquisition costs$8,994 $8,142