Quarterly report pursuant to Section 13 or 15(d)

Balance Sheet Components

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Balance Sheet Components
 3 Months Ended
Apr. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Balance Sheet Components Balance Sheet Components
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following:
(in thousands) April 30, 2023 January 31, 2023
Prepaid hosting and data costs $ 699  $ 12,168 
Prepaid software costs 5,501  6,079 
Prepaid marketing 3,392  1,660 
Capitalized commissions costs, current portion 42,658  44,051 
Prepaid insurance 640  1,734 
Contract assets 5,129  4,785 
Security deposits, short-term 3,594  3,136 
Taxes recoverable 2,721  2,327 
Other 5,983  2,925 
Prepaid expenses and other current assets $ 70,317  $ 78,865 
Property and Equipment, Net
Property and equipment, net consisted of the following:
(in thousands) April 30, 2023 January 31, 2023
Computer equipment $ 16,879  $ 16,283 
Office furniture and other 2,766  2,540 
Leasehold improvements 6,422  5,535 
Less accumulated depreciation and amortization (17,769) (16,875)
Total fixed assets, net 8,298  7,483 
Capitalized internal-use software 39,315  35,962 
Less accumulated amortization (22,588) (20,560)
Total capitalized internal-use software 16,727  15,402 
Property and equipment, net $ 25,025  $ 22,885 
Depreciation and amortization expense consisted of the following:
Three Months Ended April 30,
(in thousands) 2023 2022
Depreciation and amortization expense $ 1,491  $ 1,335 
Amortization expense for capitalized internal-use software $ 2,028  $ 1,164 
The Company capitalized internal-use software costs, including stock-based compensation, of $3.4 million and $2.5 million in the three months ended April 30, 2023 and 2022, respectively.
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
(in thousands) April 30, 2023 January 31, 2023
Bonuses $ 7,464  $ 25,057 
Commissions 10,332  27,866 
Employee liabilities (1)
20,809  16,374 
Purchased media costs (2)
2,297  2,965 
Accrued restructuring costs (3)
2,915  4 
Accrued sales and use tax liability 6,779  7,336 
Accrued income taxes 4,391  3,139 
Accrued deferred contract credits 2,993  1,733 
Vendor and travel costs payable 7,228  4,132 
Professional services 2,137  784 
Other 9,732  8,134 
Accrued expenses and other current liabilities $ 77,077  $ 97,524 
(1) Includes $3.3 million and $1.4 million of accrued employee contributions under the Company's 2021 Employee Stock Purchase Plan (“ESPP”) at April 30, 2023 and January 31, 2023, respectively.
(2) Purchased media costs consist of amounts owed to the Company’s vendors for the purchase of advertising space on behalf of its customers.
(3) In February 2023, the Company implemented an approved plan for restructuring its global workforce by approximately 4% to reduce operating costs and better align its workforce with the needs of its business. The majority of the associated costs, including severance and benefits, are expected to be incurred in the first half of fiscal 2024. For the three months ended April 30, 2023, the Company incurred a total of $5.2 million in restructuring costs, of which $5.0 million and $0.2 million are recorded within sales and marketing expense and general and administrative expense, respectively, on the Company’s condensed consolidated statements of operations. As of April 30, 2023, $2.3 million had been paid and the remaining $2.9 million is recorded within accrued restructuring costs and is expected to be paid in the first half of fiscal 2024.