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Leases
 6 Months Ended
Jul. 31, 2024
Leases [Abstract]  
Leases Leases
The Company has leases for corporate offices under non-cancelable operating leases with various expiration dates. The Company did not have any finance leases during the three and six months ended July 31, 2024 and 2023.
On August 2, 2023, the Company entered into a 10-year operating lease agreement for a new corporate headquarters located in New York, NY. The Company has the option to extend the term for 60 months, which is not included in our right-of-use (“ROU”) assets and lease liabilities as the lease renewal is not reasonably certain to be exercised. The lease commenced on April 29, 2024, with payments beginning in December 2024.
The components of lease expense were as follows:
Three Months Ended July 31, Six Months Ended July 31,
(in thousands)2024202320242023
Operating lease cost$3,332 $2,888 $6,194 $5,283 
Variable lease cost319 307 648 609 
Short-term lease cost121 182 263 389 
Total lease cost$3,772 $3,377 $7,105 $6,281 

The weighted average remaining lease term and discount rate were as follows:
July 31, 2024January 31, 2024
Weighted average remaining lease term (years)7.406.20
Weighted average discount rate8.82 %10.11 %
The maturities of lease liabilities under non-cancelable operating leases, net of lease incentives, were as follows:
(in thousands)
Fiscal year ended January 31, 2025 (remaining six months)
$4,941 
202611,249 
202710,206 
20288,219 
20297,280 
20306,165 
Thereafter23,099 
Total minimum lease payments
71,159 
Less: imputed interest(19,954)
Total$51,205