Leases

12 Months Ended

Jan. 31, 2023

The Company leases its office facilities under non-cancellable operating leases with various lease terms. The Company also leases certain office equipment under operating lease agreements. As of January 31, 2023, non-cancellable leases expire on various dates between fiscal years 2024 and 2030.

Generally, the Company's non-cancellable leases include renewal options to extend the lease term from one to five years. The Company has not included any renewal options in its lease terms as these options are not reasonably certain of being exercised. The lease agreements do not contain any material residual value guarantees or material restrictive covenants.

As of January 31, 2023 and 2022, lease balances were as follows:


	January 31,
	2023		2022
	(in thousands)
Operating leases
Operating lease right-of-use assets	$	22,242	$	25,535
Operating lease liabilities, current	3,753		3,876
Operating lease liabilities, noncurrent	21,841		25,370
Total operating lease liabilities	$	25,594	$	29,246

The Company recognizes operating lease costs on a straight-line basis over the lease period. Lease expense for the years ended January 31, 2023, 2022, and 2021 was $6.6 million, $6.1 million, and $5.1 million, respectively. Operating lease costs for short-term leases and variable lease costs were not material during the years ended January 31, 2023, 2022 and 2021.

Future payments of operating lease liabilities under the Company’s non-cancellable operating leases as of January 31, 2023 were as follows:


	(in thousands)
Years Ending January 31,
2024	$	6,657
2025	6,186
2026	4,983
2027	4,682
2028	4,087
Thereafter	6,233
Total undiscounted operating lease payments	$	32,828
Less: imputed interest	(7,234)
Total operating lease liabilities	$	25,594

Other supplemental information as of January 31, 2023 and 2022 was as follows:


	January 31,
	2023		2022
Lease Term and Discount Rate
Weighted-average remaining operating lease term (years)	5.7		6.5
Weighted-average operating lease discount rate	7.3	%	7.3	%

Other supplemental cash flow information for the years ended January 31, 2023, 2022 and 2021 was as follows:


	Year ended January 31,
	2023		2022		2021
	(in thousands)
Supplemental Cash Flow Information
Cash paid for amounts in the measurement of operating lease liabilities	$	6,927	$	5,164	$	4,226

As of January 31, 2023, the Company has no additional operating leases that have not yet commenced and as such, have not yet been recognized on the Company’s consolidated balance sheets.