Accrued and Other Current Liabilities

9 Months Ended

Oct. 31, 2023

Payables and Accruals [Abstract]

Accrued and Other Current Liabilities

6. Accrued and Other Current Liabilities

Accrued and other current liabilities at October 31, 2023 and January 31, 2023 consisted of the following:

	As of
	October 31, 2023		January 31, 2023
	(in thousands)
Accrued employee compensation	$	14,851	$	22,152
Accrued product development costs		27,819		19,433
Software license liabilities, current		8,466		7,059
Other accrued liabilities		6,855		8,011
Total accrued and other current liabilities	$	57,991	$	56,655

The timing of SoC development and invoicing from outside foundries usually results in the fluctuation of accrued product development costs. For the accrued employee compensation, approximately $5.6 million of annual bonus was paid in the first quarter of fiscal year 2024, of which $1.1 million was paid in cash and $4.5 million was settled with restricted stock units.