XML 23 R11.htm IDEA: XBRL DOCUMENT v3.22.1
Intangible Assets, Net
3 Months Ended
Apr. 30, 2022
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net

4. Intangible Assets, Net

   As of April 30, 2022, the intangible assets primarily consist of software licenses as well as developed technology, customer relationships and trade name that were acquired from business combinations.

The Company enters into certain software license agreements with third parties from time-to-time. The software licenses consist of noncancelable on premise internal-use software and software with alternative use that is to be sold, leased or otherwise marketed as part of a product. The licenses have been capitalized as intangible assets, and the corresponding future payments have been recorded as liabilities at net present value. As of April 30, 2022, $4.9 million was recorded in accrued and other current liabilities and $0.6 million was recorded in other long-term liabilities in the condensed consolidated balance sheets.

The components of intangible assets as of April 30, 2022 and January 31, 2022 were as follows:

 

 

 

As of April 30, 2022

 

 

As of January 31, 2022

 

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Carrying Amount

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Carrying Amount

 

 

 

(in thousands)

 

Software licenses

 

$

26,635

 

 

$

(12,486

)

 

$

14,149

 

 

$

22,093

 

 

$

(11,331

)

 

$

10,762

 

Developed technology

 

 

21,200

 

 

 

(1,661

)

 

 

19,539

 

 

 

21,200

 

 

 

(904

)

 

 

20,296

 

Customer relationships

 

 

13,200

 

 

 

(733

)

 

 

12,467

 

 

 

13,200

 

 

 

(367

)

 

 

12,833

 

Trade name

 

 

2,500

 

 

 

(178

)

 

 

2,322

 

 

 

2,500

 

 

 

(89

)

 

 

2,411

 

Total intangible assets, net

 

$

63,535

 

 

$

(15,058

)

 

$

48,477

 

 

$

58,993

 

 

$

(12,691

)

 

$

46,302

 

During the three months ended April 30, 2022, there was approximately $4.9 million of software licenses purchased and approximately $0.4 million of software licenses retired. The amortization expense associated with software licenses was approximately $1.6 million and $1.5 million for the three months ended April 30, 2022 and 2021, respectively. The amortization expense associated with acquisition-related intangible assets, including developed technology, customer relationships and trade name, was approximately $1.2 million for the three months ended April 30, 2022. There was no acquisition-related amortization expense for the three months ended April 30, 2021. The expected future amortization expense related to these intangible assets as of April 30, 2022 is as follows:

 

 

As of

 

 

 

April 30, 2022

 

Fiscal Year

 

(in thousands)

 

2023 (9 months remaining)

 

$

7,693

 

2024

 

 

8,211

 

2025

 

 

6,971

 

2026

 

 

5,408

 

2027

 

 

5,405

 

Thereafter

 

 

14,789

 

Total future amortization expenses:

 

$

48,477

 

The intangible assets are required to be tested for impairment at least annually in the fourth fiscal quarter or sooner whenever events or changes in circumstances indicate that the assets may be impaired. There were no intangible asset impairments for the three months ended April 30, 2022 and 2021, respectively.