5.	CAPITALIZED SOFTWARE COSTS

Capitalized software costs and accumulated amortization at

April 30, 2019

and

January 31, 2019

were as follows:

	April 30, 2019			January 31, 2019
	(in thousands)
Capitalized software costs:
Capitalized software development costs	$	2,486		$	2,314
Acquired software technology		135			135
		2,621			2,449
Less accumulated amortization		(957	)		(851	)
Capitalized software costs, net	$	1,664		$	1,598

The Company’s capitalized software development costs relate to translations and localizations of QAD Adaptive Applications. Acquired software technology costs relate to acquired technology purchased during the

second

quarter fiscal

2019.

It is the Company’s policy to write off capitalized software development costs once fully amortized. Accordingly, during the

first

three

months of fiscal

2020,

approximately

$0.1

million of costs and accumulated amortization were removed from the balance sheet.

Amortization of capitalized software costs was

$0.2

million and

$0.1

million for the

three

months ended

April 30, 2019

and

2018,

respectively. Amortization of capitalized software costs is included in “Cost of license” in the accompanying Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income.

The following table summarizes the estimated amortization expense relating to the Company’s capitalized software costs as of

April 30, 2019:

Fiscal Years	(in thousands)
2020 remaining	$	627
2021		660
2022		317
2023		47
Thereafter		13
	$	1,664