Goodwill and Net Intangible Assets

12 Months Ended

Jan. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Net Intangible Assets

Goodwill and Net Intangible Assets

The changes in the carrying amount of goodwill during the years ended January 31, 2021 and 2020 were as follows (in thousands):

Goodwill balance as of January 31, 2019	$	5,496
Addition - acquisition of 10,000ft	11,181
Working capital adjustment - acquisition of 10,000ft	(180)
Goodwill balance as of January 31, 2020	16,497
Addition - acquisition of Brandfolder	109,381
Measurement period adjustment - acquisition of Brandfolder	(273)
Goodwill balance as of January 31, 2021	$	125,605

No goodwill impairments were recorded during the years ended January 31, 2021, 2020, or 2019.

The following table presents the components of net intangible assets (in thousands):

	As of January 31, 2021						As of January 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Acquired software technology	$	25,400	$	(4,115)	$	21,285	$	9,866	$	(2,325)	$	7,541
Acquired customer relationships	32,150		(3,235)		28,915		8,350		(900)		7,450
Trade names	4,100		(233)		3,867		100		(28)		72
Patents	170		(111)		59		170		(91)		79
Domain name	13		—		13		13		—		13
Total	$	61,833	$	(7,694)	$	54,139	$	18,499	$	(3,344)	$	15,155

The components of intangible assets acquired as of the periods presented were as follows (in thousands):

	As of January 31, 2021			As of January 31, 2020
	Net Carrying Amount		Weighted Average Life (Years)	Net Carrying Amount		Weighted Average Life (Years)
Acquired software technology	$	21,285	4.3	$	7,541	4.0
Acquired customer relationships	28,915		6.5	7,450		7.1
Trade names	3,867		8.6	72		1.9
Total	$	54,067	5.8	$	15,063	5.5

Amortization expense related to intangible assets was $6.3 million, $2.8 million, and $0.5 million for the years ended January 31, 2021, 2020, and 2019, respectively. As of January 31, 2021, estimated remaining amortization expense for the finite-lived intangible assets by fiscal year is as follows (in thousands):

2022	$	10,074
2023	9,942
2024	9,942
2025	8,741
2026	7,023
Thereafter	8,404
Total	$	54,126