Quarterly report pursuant to Section 13 or 15(d)

Credit Agreement

v3.22.2.2
Credit Agreement
 9 Months Ended
Oct. 31, 2022
Debt Disclosure [Abstract]  
Credit Agreement Credit AgreementThe Company maintains a credit agreement with Silicon Valley Bank (as amended from time to time, the “SVB Credit Facility”). Under the terms of the SVB Credit Facility, the Company can borrow up to $50.0 million on its revolving credit loan facility on its revolving credit loan facility at the higher of prime interest rate plus 0.25% or federal funds effective rate plus 0.50% plus 0.25%. The SVB Credit Facility, which expires on December 19, 2022, requires the Company to maintain certain monthly adjusted quick ratio and quarterly minimum consolidated adjusted earnings before income taxes, depreciation and amortization. As of October 31, 2022 and January 31, 2022, the Company had no amounts outstanding under the SVB Credit Facility.