Goodwill and Intangible Assets

12 Months Ended

Jan. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table summarizes the changes in the carrying amount of goodwill during the years:


	As of January 31,
	2023		2022
	(in thousands)
Balance, beginning of the year	$	27,607	$	24,340
Increase in goodwill related to business combinations	95,034		3,267
Balance, ending of the year	$	122,641	$	27,607

In the first half of the fiscal year ending January 31, 2023, we acquired Solvvy, Inc., and recorded $95.0 million of goodwill. See Note 5 for additional information related to the purchase of Solvvy, Inc.

Intangibles

The following table summarizes intangible assets with a finite useful life included within other asset, noncurrent on the consolidated balance sheet:


	As of January 31,
	2023						2022
	Gross Carrying Amount		Accumulated Amortization		Net Value		Gross Carrying Amount		Accumulated Amortization		Net Value

	(in thousands)
Customer relationships	$	14,700	$	(2,078)	$	12,622	$	—	$	—	$	—
Technology	16,190		(3,752)		12,438		4,190		(1,218)		2,972
Assembled workforce	7,034		(674)		6,360		—		—		—
Total	$	37,924	$	(6,504)	$	31,420	$	4,190	$	(1,218)	$	2,972

Intangible asset amortization expense was $5.3 million for the year ended January 31, 2023 and less than $1.0 million for the years ended January 31, 2022 and 2021.

Estimated amortization expense for each of the five succeeding fiscal years and thereafter is as follows:


			As of January 31, 2023
			(in thousands)
Year Ending January 31,
2024			7,934
2025			7,956
2026			7,446
2027			6,533
2028			1,551
Thereafter			—
Total amortization expense			31,420

The following table summarizes intangible assets with an indefinite useful life included within other asset, noncurrent on the consolidated balance sheet:


	As of January 31,
	2023		2022

	(in thousands)
Domain and IP Addresses	$	20,232	$	17,020
Patents and Tradenames	5,007		4,000
Total	$	25,239	$	21,020

For the years ended January 31, 2023, 2022 and 2021, there were no intangible assets impairment losses.