Commitments and Contingencies |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jan. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies | Commitments and Contingencies Leases
The Company leases certain office facilities under operating lease arrangements that expire on various dates through 2027. Under the terms of the leases, the Company is responsible for certain operating expenses, such as insurance, property taxes, and maintenance expenses. Rent expense for non-cancelable operating leases with scheduled rent increases is recognized on a straight-line basis over the terms of the leases.
Deferred rent as of January 31, 2022 was $1.8 million, $0.6 million of which was recorded in accrued expenses and other current liabilities and $1.2 million of which was recorded in other liabilities, long-term in the consolidated balance sheets.
Deferred rent as of January 31, 2021 was $2.2 million, $1.3 million of which was recorded in accrued expenses and other current liabilities and $0.9 million of which was recorded in other liabilities, long-term in the consolidated balance sheets.
Rent expense under these operating leases was $7.4 million, $7.2 million and $6.4 million in years ended January 31, 2022, 2021 and 2020, respectively.
At January 31, 2022, the Company had no capital leases. Future minimum lease payments under non-cancelable operating leases were as follows (in thousands):
Letters of Credit
As of January 31, 2022, the Company has an aggregate availability of $0.7 million under letters of credit primarily related to one of its leases. The Company has not drawn down on these letters of credit as of January 31, 2022. No letters of credit were outstanding as of January 31, 2021.
Contractual Obligations and Commitments
The Company has non-cancelable minimum guaranteed purchase commitments for data and hosting services as of January 31, 2022 as follows (in thousands):
Legal Matters
From time to time, the Company, various subsidiaries, and certain current and former officers may be named as defendants in various lawsuits, claims, investigations and proceedings arising from the normal course of business. The Company may also become involved with contract issues and disputes with customers. With respect to litigation in general, based on the Company’s experience, management believes that the damages amounts claimed in a case are not a meaningful indicator of the potential liability. Claims, suits, investigations and proceedings are inherently uncertain and it is not possible to predict the ultimate outcome of cases. The Company believes that it has valid defenses with respect to the legal matters pending against the Company and intends to vigorously contest each of them.
The Company makes a provision for a liability relating to legal matters when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed at least quarterly and adjusted to reflect the impacts of negotiations, estimated settlements, legal rulings, advice of legal counsel and other information and events pertaining to a particular matter. In management’s opinion, resolution of all current matters is not expected to have a material adverse impact on the Company’s consolidated results of operations, cash flows or financial position. However, if an unfavorable ruling were to occur in any specific period, there exists the possibility of a material adverse impact on the results of operations for that period. On September 7, 2022, a complaint was filed by Opal against the Company in the Circuit Court of the State of Oregon, alleging breach of contract and violation of Oregon’s Uniform Trade Secrets Act, among other claims. On September 5, 2018, the case was moved from state court to federal court on the Company’s motion. On February 25, 2022, the Company and Opal agreed to settle all outstanding claims with respect to Opal’s complaints. On March 1, 2022, the court dismissed all of Opal’s claims with prejudice. The Company and Opal finalized the settlement on March 15, 2022. The settlement, which was paid on March 30, 2022, was accounted for as a recognized subsequent event and a related one-time operating expense charge on settlement was recognized on the consolidated statement of operations.
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