5.	CAPITALIZED SOFTWARE COSTS

Capitalized software costs and accumulated amortization at

April 30, 2020

and

January 31, 2020

were as follows:

	April 30, 20 20			January 31, 20 20
	(in thousands)
Capitalized software costs:
Capitalized software development costs	$	3,496		$	3,356
Acquired software technology		135			135
		3,631			3,491
Less accumulated amortization		(1,719	)		(1,569	)
Capitalized software costs, net	$	1,912		$	1,922

The Company’s capitalized software development costs relate to translations and localizations of QAD Adaptive Applications. Acquired software technology costs relate to intellectual property purchased during the

second

quarter fiscal

2019.

It is the Company’s policy to write off capitalized software development costs once fully amortized. Accordingly, during the

first

three

months of fiscal

2021,

approximately

$0.1

million of costs and accumulated amortization were removed from the Condensed Consolidated Balance Sheet, related to capitalized software development costs which were fully amortized during the

first

quarter of fiscal

2021.

Amortization of capitalized software costs was

$0.3

million and

$0.2

million for the

three

months ended

April 30, 2020

and

2019,

respectively. Amortization of capitalized software costs is included in “Cost of license” in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Loss.

The following table summarizes the estimated amortization expense relating to the Company’s capitalized software costs as of

April 30, 2020:

Fiscal Years	(in thousands)
2021 remaining	$	773
2022		734
2023		370
2024		35
Thereafter		-
	$	1,912