Goodwill and Intangible Assets

6 Months Ended

Jul. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

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

Balance as of January 31, 2023	$	213,716
Foreign exchange fluctuations	2,899
Balance as of July 31, 2023	$	216,615

There was no impairment recognized for the three and six months ended July 31, 2023 and 2022.

The following table presents the details of intangible assets:

	July 31, 2023
	Cost (1)		Accumulated Amortization (1)		Net (1)		Useful Life
	(amounts in thousands, useful lives in years)
Customer relationships	$	92,153	$	(17,017)	$	75,136	10
Developed technology	18,584		(5,796)		12,788		6
	$	110,737	$	(22,813)	$	87,924

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

	January 31, 2023
	Cost (1)		Accumulated Amortization (1)		Net (1)		Useful Life
	(amounts in thousands, useful lives in years)
Customer relationships	$	90,738	$	(12,223)	$	78,515	10
Developed technology	18,355		(4,197)		14,158		6
	$	109,093	$	(16,420)	$	92,673

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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 July 31, 2023				Six Months Ended July 31, 2023
	2023		2022		2023		2022
	(in thousands)
Amortization expense	$	3,039	$	2,956	$	6,077	$	5,816