Quarterly report pursuant to Section 13 or 15(d)

Leases

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Leases
 9 Months Ended
Oct. 31, 2024
Leases [Abstract]  
Leases Leases
The Company has leases for corporate offices under non-cancelable operating leases with various expiration dates. The Company did not have any finance leases during the three and nine months ended October 31, 2024 and 2023.
On August 2, 2023, the Company entered into a 10-year operating lease agreement for a new corporate headquarters located in New York, NY. The Company has the option to extend the term for 60 months, which is not included in our right-of-use assets and lease liabilities as the lease renewal is not reasonably certain to be exercised. The lease commenced on April 29, 2024, with payments beginning in December 2024.
The components of lease expense were as follows:
Three Months Ended October 31, Nine Months Ended October 31,
(in thousands) 2024 2023 2024 2023
Operating lease cost $ 3,132  $ 2,877  $ 9,326  $ 8,160 
Variable lease cost 358  328  1,006  937 
Short-term lease cost 111  145  374  534 
Total lease cost $ 3,601  $ 3,350  $ 10,706  $ 9,631 

The weighted average remaining lease term and discount rate were as follows:
October 31, 2024 January 31, 2024
Weighted average remaining lease term (years) 7.22 6.20
Weighted average discount rate 8.69  % 10.11  %
The maturities of lease liabilities under non-cancelable operating leases, net of lease incentives, were as follows:
(in thousands)
Fiscal year ended January 31, 2025 (remaining three months)
 $ 2,581 
2026 11,689 
2027 10,645 
2028 8,656 
2029 7,281 
2030 6,150 
Thereafter 23,059 
Total minimum lease payments
 70,061 
Less: imputed interest (18,903)
Total $ 51,158