Accrued and Other Current Liabilities

3 Months Ended

Apr. 30, 2024

Payables and Accruals [Abstract]

Accrued and Other Current Liabilities

6. Accrued and Other Current Liabilities

Accrued and other current liabilities at April 30, 2024 and January 31, 2024 consisted of the following:

	As of
	April 30, 2024		January 31, 2024
	(in thousands)
Accrued employee compensation	$	12,603	$	16,610
Accrued product development costs		24,118		18,290
Software license liabilities, current		8,113		8,161
Other accrued liabilities		4,880		5,537
Total accrued and other current liabilities	$	49,714	$	48,598

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 $4.1 million of annual bonus was paid in the first quarter of fiscal year 2025, of which $1.1 million was paid in cash and $3.0 million was settled with fully vested restricted stock units.