Quarterly report pursuant to Section 13 or 15(d)

Balance Sheet Components

v3.23.3
Balance Sheet Components
 9 Months Ended
Oct. 31, 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) October 31, 2023 January 31, 2023
Prepaid hosting and data costs $ 4,270  $ 12,168 
Prepaid software costs 8,296  6,079 
Prepaid marketing 2,158  1,660 
Capitalized commissions costs, current portion 40,780  44,051 
Contract assets 3,831  4,785 
Security deposits, short-term 3,105  3,136 
Taxes recoverable 3,933  2,327 
Restricted cash 1,491  — 
Prepaid employee benefits 2,569  1,582 
Other 6,795  3,077 
Prepaid expenses and other current assets $ 77,228  $ 78,865 
Depreciation and Amortization Expense
Depreciation and amortization expense consisted of the following:
Three Months Ended October 31, Nine Months Ended October 31,
(in thousands) 2023 2022 2023 2022
Depreciation and amortization expense $ 1,454  $ 1,634  $ 4,493  $ 4,646 
Amortization expense for capitalized internal-use software $ 2,500  $ 1,591  $ 6,790  $ 4,081 
The Company capitalized internal-use software costs, including stock-based compensation, of $3.4 million and $3.7 million for the three months ended October 31, 2023 and 2022, respectively, and $10.7 million and $9.6 million for the nine months ended October 31, 2023 and 2022, respectively.
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
(in thousands) October 31, 2023 January 31, 2023
Bonuses $ 18,224  $ 25,057 
Commissions 8,663  27,866 
Employee liabilities (1)
17,354  16,374 
Purchased media costs (2)
2,002  2,965 
Accrued restructuring costs (3)
310  4 
Accrued sales and use tax liability 7,025  7,336 
Accrued income taxes 5,050  3,139 
Accrued deferred contract credits 2,346  1,733 
Vendor and travel costs payable 5,986  4,132 
Professional services 659  784 
Asset retirement obligation 881  1,011 
Withholding taxes payable 681  2,702 
Other 3,600  4,421 
Accrued expenses and other current liabilities $ 72,781  $ 97,524 
(1) Includes $3.2 million and $1.4 million of accrued employee contributions under the Company’s 2021 Employee Stock Purchase Plan (“ESPP”) at October 31, 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, were incurred in the first half of fiscal 2024. For the nine months ended October 31, 2023, the Company incurred a total of $4.4 million in restructuring costs of which $4.2 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 October 31, 2023, $4.1 million had been paid and the remaining $0.3 million is recorded within accrued restructuring costs.