Goodwill and Intangible Assets

9 Months Ended

Oct. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

The following table summarizes the changes in carrying amounts of goodwill (in thousands):

Balance as of January 31, 2022	$	218,484
Foreign exchange fluctuations	(16,742)
Balance as of October 31, 2022	$	201,742

There was no impairment recognized for the three and nine months ended October 31, 2022 and 2021.

The following table presents the details of intangible assets:

	October 31, 2022
	Cost (1)		Accumulated Amortization (1)		Net (1)		Useful Life
	(amounts in thousands, useful lives in years)
Customer Relationships	$	84,823	$	(9,324)	$	75,499	10
Developed Technology	17,400		(3,262)		14,138		6
	$	102,223	$	(12,586)	$	89,637

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(1) Values are translated into U.S. Dollars at period-end foreign exchange rates.

	January 31, 2022
	Cost (1)		Accumulated Amortization (1)		Net (1)		Useful Life
	(amounts in thousands, useful lives in years)
Customer Relationships	$	93,065	$	(3,223)	$	89,842	10
Developed Technology	18,731		(1,364)		17,367		6
	$	111,796	$	(4,587)	$	107,209

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(1) Values are translated into U.S. Dollars at period-end foreign exchange rates.

Amortization expense for customer relationships and developed technology is shown as sales and marketing and cost of revenue, respectively, in the condensed consolidated statements of operations. The acquired intangible assets and goodwill are subject to impairment review at least annually on December 31st.

Acquisition-related intangible assets included in the above table are finite-lived and are carried at cost less accumulated amortization. Intangible assets are being amortized on a straight-line basis over their estimated lives, which approximates the pattern in which the economic benefits of the intangible assets are expected to be realized.

The following table presents the amortization expense related to intangible assets:

	Three months ended October 31,				Nine months ended October 31,
	2022		2021		2022		2021
	(in thousands)
Amortization expense	$	2,837	$	1,519	$	8,653	$	1,519
Total amortization expense	$	2,837	$	1,519	$	8,653	$	1,519