Operating Leases

3 Months Ended

Apr. 30, 2024

Note 6: Operating Leases

The Company leases its headquarters located in Sunnyvale, California, as well as office space and data center facilities in several locations under non-cancelable operating lease agreements, with expiration dates through fiscal 2033.

Supplemental balance sheet information related to leases was as follows (in thousands):


		As of
	April 30, 2024		January 31, 2024
Assets
Operating lease right-of-use assets	$	16,596	$	17,041
Total leased assets	$	16,596	$	17,041
Liabilities
Short-term operating lease liabilities	$	3,725	$	3,742
Long-term operating lease liabilities		13,317		13,676
Total lease liabilities	$	17,042	$	17,418

Weighted-average remaining lease term		5.8 years		6.0 years
Weighted-average discount rate		6.3%		6.2%

Operating lease right-of-use assets and long-term operating lease liabilities are included on the face of the consolidated balance sheet. Short-term operating lease liabilities are presented within accrued expenses and other current liabilities.

The Company incurred total lease costs in its condensed consolidated statements of operations of $1.6 million and $1.3 million for the three months ended April 30, 2024 and 2023, respectively.

Supplemental cash flow information related to leases was as follows (in thousands):


	Three Months Ended
	April 30, 2024		April 30, 2023
Cash payments for operating leases	$	983	$	897
Right-of-use assets recognized in exchange for new operating lease obligations	$	310	$	4,902

As of April 30, 2024, maturities of operating lease liabilities were as follows (in thousands):


Fiscal Years Ending January 31,	April 30, 2024
2025 remainder	$	2,943
2026		3,810
2027		3,969
2028		2,720
2029		2,742
Thereafter		4,630
Total future minimum lease payments		20,814
Less: imputed interest		(3,772)
Present value of lease liabilities	$	17,042