Balance Sheet Components

3 Months Ended

Apr. 30, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Balance Sheet Components

Balance Sheet Components

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:

(in thousands)	April 30, 2023		January 31, 2023
Prepaid hosting and data costs	$	699	$	12,168
Prepaid software costs	5,501		6,079
Prepaid marketing	3,392		1,660
Capitalized commissions costs, current portion	42,658		44,051
Prepaid insurance	640		1,734
Contract assets	5,129		4,785
Security deposits, short-term	3,594		3,136
Taxes recoverable	2,721		2,327
Other	5,983		2,925
Prepaid expenses and other current assets	$	70,317	$	78,865

Property and Equipment, Net

Property and equipment, net consisted of the following:

(in thousands)	April 30, 2023		January 31, 2023
Computer equipment	$	16,879	$	16,283
Office furniture and other	2,766		2,540
Leasehold improvements	6,422		5,535
Less accumulated depreciation and amortization	(17,769)		(16,875)
Total fixed assets, net	8,298		7,483
Capitalized internal-use software	39,315		35,962
Less accumulated amortization	(22,588)		(20,560)
Total capitalized internal-use software	16,727		15,402
Property and equipment, net	$	25,025	$	22,885

Depreciation and amortization expense consisted of the following:

	Three Months Ended April 30,
(in thousands)	2023		2022
Depreciation and amortization expense	$	1,491	$	1,335
Amortization expense for capitalized internal-use software	$	2,028	$	1,164

The Company capitalized internal-use software costs, including stock-based compensation, of $3.4 million and $2.5 million in the three months ended April 30, 2023 and 2022, respectively.

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:

(in thousands)	April 30, 2023		January 31, 2023
Bonuses	$	7,464	$	25,057
Commissions	10,332		27,866
Employee liabilities (1)	20,809		16,374
Purchased media costs (2)	2,297		2,965
Accrued restructuring costs (3)	2,915		4
Accrued sales and use tax liability	6,779		7,336
Accrued income taxes	4,391		3,139
Accrued deferred contract credits	2,993		1,733
Vendor and travel costs payable	7,228		4,132
Professional services	2,137		784
Other	9,732		8,134
Accrued expenses and other current liabilities	$	77,077	$	97,524

(1) Includes $3.3 million and $1.4 million of accrued employee contributions under the Company's 2021 Employee Stock Purchase Plan (“ESPP”) at April 30, 2023 and January 31, 2023, respectively.

(2) Purchased media costs consist of amounts owed to the Company’s vendors for the purchase of advertising space on behalf of its customers.

(3) In February 2023, the Company implemented an approved plan for restructuring its global workforce by approximately 4% to reduce operating costs and better align its workforce with the needs of its business. The majority of the associated costs, including severance and benefits, are expected to be incurred in the first half of fiscal 2024. For the three months ended April 30, 2023, the Company incurred a total of $5.2 million in restructuring costs, of which $5.0 million and $0.2 million are recorded within sales and marketing expense and general and administrative expense, respectively, on the Company’s condensed consolidated statements of operations. As of April 30, 2023, $2.3 million had been paid and the remaining $2.9 million is recorded within accrued restructuring costs and is expected to be paid in the first half of fiscal 2024.