Annual report pursuant to Section 13 and 15(d)

Balance Sheet Components

v3.24.1
Balance Sheet Components
 12 Months Ended
Jan. 31, 2024
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:
January 31,
(in thousands) 2024 2023
Prepaid hosting and data costs $ 1,673  $ 12,168 
Prepaid software costs 4,854  6,079 
Prepaid marketing 1,208  1,660 
Capitalized commissions costs, current portion 42,486  44,051 
Contract assets 4,326  4,785 
Security deposits, short-term 1,923  3,136 
Taxes recoverable 3,561  2,327 
Restricted cash 1,494  — 
Employee advances 2,614  1,582 
Other 6,551  3,077 
Prepaid expenses and other current assets $ 70,690  $ 78,865 
Property and Equipment, Net
Property and equipment, net consisted of the following:
January 31,
(in thousands) 2024 2023
Computer equipment $ 17,646  $ 16,283 
Office furniture and other 4,879  2,540 
Leasehold improvements 10,370  5,535 
Less accumulated depreciation and amortization (20,866) (16,875)
Total fixed assets, net 12,029  7,483 
Capitalized internal-use software 50,212  35,962 
Less accumulated amortization (30,065) (20,560)
Total capitalized internal-use software 20,147  15,402 
Property and equipment, net $ 32,176  $ 22,885 
Depreciation and amortization expense consisted of the following:
Year Ended January 31,
(in thousands) 2024 2023 2022
Depreciation and amortization expense $ 5,961  $ 6,148  $ 4,218 
Amortization expense for capitalized internal-use software $ 9,505  $ 5,903  $ 3,428 
The Company capitalized internal-use software, including stock-based compensation, of $14.2 million, $12.9 million and $7.0 million, for the fiscal years ended January 31, 2024, 2023, and 2022, respectively.
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
January 31,
(in thousands) 2024 2023
Bonuses $ 23,314  $ 25,057 
Commissions 18,502  27,866 
Employee liabilities (1)
19,019  16,374 
Purchased media costs (2)
1,683  2,965 
Accrued restructuring costs (3)
—  4 
Accrued sales and use tax liability 8,522  7,336 
Accrued income taxes 4,529  3,139 
Accrued deferred contract credits 2,204  1,733 
Vendor and travel costs payable 4,160  4,132 
Professional services 1,142  784 
Asset retirement obligation 400  1,011 
Withholding taxes payable 944  2,702 
Other 8,768  4,421 
$ 93,187  $ 97,524 
(1) Includes $1.4 million and $1.4 million of accrued employee contributions under the Company’s 2021 ESPP at January 31, 2024 and 2023, and respectively. Refer to Note 12, Stock-Based Compensation, for further discussion of the Company's ESPP.
(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 year ended January 31, 2024, the Company incurred a total of $4.3 million in restructuring costs of which $4.1 million and $0.2 million are recorded within sales and marketing expense and general and administrative expense, respectively, on the Company’s consolidated statements of operations. As of January 31, 2024, all restructuring costs have been paid.