Annual report pursuant to Section 13 and 15(d)

Leases

v3.23.1
Leases
 12 Months Ended
Jan. 31, 2023
Leases [Abstract]  
Leases Leases
The Company adopted ASC 842 as of February 1, 2022. The Company has operating leases for corporate offices under non-cancelable operating leases with various expiration dates. The Company does not have finance leases.
The components of lease expense were as follows:
(in thousands) Year Ended January 31, 2023
Operating lease cost $ 8,145 
Variable lease cost 1,147 
Short-term lease cost 763 
Total lease cost $ 10,056 
The weighted-average remaining lease term and discount rate were as follows:
January 31, 2023
Weighted-average remaining lease term (in years) 2.96
Weighted-average discount rate 11.01  %
The maturities of lease liabilities under non-cancelable operating leases, net of lease incentives were as follows as of January 31, 2023:
(in thousands)
Fiscal year ended January 31,
2024 $ 8,553 
2025 4,604 
2026 3,447 
2027 2,239 
2028 774 
Thereafter — 
Total minimum lease payments $ 19,617 
Less: imputed interest (2,850)
Total $ 16,767 
Future minimum lease payments under non-cancelable operating leases as of January 31, 2022 under ASC 840 were as follows:
(in thousands)
Fiscal year ended January 31,
2023 $ 9,676 
2024 8,036 
2025 3,165 
2026 2,034 
2027 and thereafter 1,726 
Total $ 24,637 
Rent expense for operating leases for the year ended January 31, 2022 and 2021, which was accounted for under ASC 840, Leases, was $7.4 million and $7.2 million, respectively.