Property and Equipment, Net

9 Months Ended

Oct. 31, 2025

Property, Plant and Equipment [Abstract]

Property and equipment, net consisted of the following:


(in thousands)	October 31, 2025		January 31, 2025
Computer and network equipment	$	128,100	$	133,486
Software, including capitalized software development costs	345,451		278,918
Furniture and office equipment	22,494		20,360
Leasehold improvements	66,114		64,012
	562,159		496,776
Less: Accumulated depreciation	(357,843)		(303,676)
	204,316		193,100
Work in progress	139,320		106,270
Total	$	343,636	$	299,370

Depreciation and amortization expense associated with property and equipment was $25.5 million and $20.7 million for the three months ended October 31, 2025 and 2024, and $72.9 million and $61.3 million for the nine months ended October 31, 2025 and 2024. This included amortization expense related to capitalized internally developed software costs of $19.6 million and $14.3 million for the three months ended October 31, 2025 and 2024, and $55.5 million and $39.4 million for the nine months ended October 31, 2025 and 2024.

For the three months ended October 31, 2025 and 2024, we capitalized $38.7 million and $29.8 million of internally developed software, including $14.2 million and $10.0 million of capitalized stock-based compensation expense in the three months ended October 31, 2025 and 2024. For the nine months ended October 31, 2025 and 2024, we capitalized $103.8 million and $81.3 million of internally developed software, including $37.1 million and $27.7 million of capitalized stock-based compensation expense in the nine months ended October 31, 2025 and 2024.