Property and Equipment, Net

6 Months Ended

Jul. 31, 2024

Property, Plant and Equipment [Abstract]

Property and equipment, net consisted of the following:


(in thousands)	July 31, 2024		January 31, 2024
Computer and network equipment	$	142,253	$	142,241
Software, including capitalized software development costs	228,634		168,584
Furniture and office equipment	18,504		18,196
Leasehold improvements	62,930		58,230
	452,321		387,251
Less: Accumulated depreciation	(279,094)		(244,270)
	173,227		142,981
Work in progress	92,317		102,192
Total	$	265,544	$	245,173

Depreciation and amortization expense associated with property and equipment was $20.8 million and $20.3 million for the three months ended July 31, 2024 and 2023, and $40.6 million and $38.1 million for the six months ended July 31, 2024 and 2023. This included amortization expense related to capitalized internally developed software costs of $13.4 million and $8.8 million for the three months ended July 31, 2024 and 2023, and $25.1 million and $15.6 million for the six months ended July 31, 2024 and 2023.

For the three months ended July 31, 2024 and 2023, we capitalized $26.8 million and $22.2 million of internally developed software, including $9.1 million and $6.9 million of capitalized stock-based compensation expense in the three months ended July 31, 2024 and 2023. For the six months ended July 31, 2024 and 2023, we capitalized $51.5 million and $43.9 million of internally developed software, including $17.7 million and $13.7 million of capitalized stock-based compensation expense in the six months ended July 31, 2024 and 2023.