Leases

3 Months Ended

Apr. 30, 2022

Leases [Abstract]

Leases

7. Leases

The Company leases office spaces under noncancelable operating lease agreements, which expire at various dates through 2027. The Company is required to pay property taxes, insurance, and normal maintenance costs for certain of these facilities. Operating lease cost for these leases is recognized on a straight-line basis over the lease term, with variable lease costs recognized in the period incurred. These lease agreements do not contain residual value guarantees or restrictive covenants.

Lease costs

Lease costs were as follows (in thousands):

	Three Months Ended April 30,
	2022		2021
Short-term lease costs	$	100	$	76
Operating lease costs		878		723
Total lease costs	$	978	$	799

Variable lease cost was not significant for the three months ended April 30, 2022 and 2021. There were no other lease components for the periods presented.

Lease term and discount rate information are summarized as follows:

	As of April 30, 2022
Weighted average remaining lease terms (in years)		4.9
Weighted average discount rate		3.8	%

Future lease payments under noncancelable operating leases on an undiscounted cash flow basis as of April 30, 2022 are as follows (in thousands):

Years Ending April 30,	Amount
2023 (remaining nine months)	$	2,847
2024		3,924
2025		4,150
2026		3,734
2027		3,737
Thereafter		1,277
Total minimum lease payments		19,669
Less imputed interest		(1,818	)
Present value of future minimum lease payments		17,851
Less current lease liabilities		(3,186	)
Operating lease liabilities, non-current	$	14,665

Operating lease liabilities are included in accrued expenses and other current liabilities, and non-current lease liabilities are included in other liabilities, non-current, in the condensed consolidated balance sheets. There were no lease related operating right-of-use asset impairment losses in the three months ended April 30, 2022 and April 30, 2021.