| Leases |
Leases The Company has entered into various non-cancelable operating lease agreements for office space, data storage facilities, and other leases with remaining lease terms of approximately 1 to 6 years, often with one or more Company options to renew. These renewal terms can extend the lease term from 5 to 10 years and are included in the lease term when it is reasonably certain that the Company will exercise the option. The components of operating lease expense were as follows: | | | | | | | | | | | | | | | | | | | Year ended January 31, | | (in thousands) | 2025 | | 2024 | | 2023 | | Operating lease expense | $ | 9,125 | | | $ | 9,437 | | | $ | 11,371 | | | Sublease income | (4,097) | | | (2,680) | | | (2,187) | | | Net operating lease expense | $ | 5,028 | | | $ | 6,757 | | | $ | 9,184 | |
Weighted average lease term and discount rate were as follows: | | | | | | | | | | | | | January 31, 2025 | | January 31, 2024 | | Weighted average remaining lease term | 5.7 years | | 6.7 years | | Weighted average discount rate | 4.4 | % | | 4.3 | % |
Lease liabilities were as follows: | | | | | | | | | | | | | (in thousands) | January 31, 2025 | | January 31, 2024 | | Gross lease liabilities | $ | 59,209 | | | $ | 67,269 | | | Less: imputed interest | (6,989) | | | (9,099) | | | Present value of lease liabilities | 52,220 | | | 58,170 | | | Less: current portion of lease liabilities | (10,001) | | | (9,404) | | | Lease liabilities, non-current | $ | 42,219 | | | $ | 48,766 | |
Supplemental cash flow information related to the Company's operating leases was as follows: | | | | | | | | | | | | | Year ended January 31, | | (in thousands) | 2025 | | 2024 | | Cash paid for amounts included in the measurement of lease liabilities: | | | | | Operating cash flows from operating leases | $ | 9,874 | | | $ | 10,900 | | | Right-of-use assets obtained in exchange for lease obligations | $ | 1,469 | | | $ | 2,109 | |
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