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Contract Balances, Performance Obligations and Contract Costs
 12 Months Ended
Jan. 31, 2025
Contract Balances, Performance Obligations and Contract Costs  
Contract Balances, Performance Obligations and Contract Costs

Note 19 – Contract Balances, Performance Obligations and Contract Costs

Deferred Revenue

The following table presents the changes in the deferred revenue balance as follows:

​

​

​

​

​

    

Deferred

​

​

Revenue

Balance at January 31, 2023

 

69,399

Recognition of previously deferred revenue

 

(56,102)

Deferral of revenue

 

72,483

Increases from business combinations, net

​

115

Effect of movements in foreign exchange

​

82

Balance at January 31, 2024

​

85,977

Recognition of previously deferred revenue

​

(68,389)

Deferral of revenue

​

86,328

Increases from business combinations, net

​

2,195

Effect of movements in foreign exchange

​

(903)

Balance at January 31, 2025

​

105,208

Current

​

104,230

Long-term

​

978

​

Performance Obligations

As of January 31, 2025, approximately $528.3 million of revenue is expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. We expect to recognize revenue on approximately 80% of these remaining performance obligations over the next 24 months with the balance recognized thereafter.

Contract Assets

The following table presents the changes in the contract assets balance as follows:

​

​

​

​

​

    

Contract

​

​

Assets

Balance at January 31, 2023

 

3,222

Transfers to trade receivables from contract assets

​

(1,291)

Increases as a result of revenue recognized during the period, net of amounts transferred to trade receivables

​

1,104

Effect of movements in foreign exchange

​

(6)

Balance at January 31, 2024

​

3,029

Transfers to trade receivables from contract assets

​

(1,585)

Increases as a result of revenue recognized during the period, net of amounts transferred to trade receivables

​

6,008

Effect of movements in foreign exchange

​

(31)

Balance at January 31, 2025

​

7,421

​

Contract Costs

Capitalized contract costs net of accumulated amortization is $19.0 million at January 31, 2025 ($18.6 million at January 31, 2024). Capitalized contract costs are amortized consistent with the pattern of transfer to the customer for the goods and services to which the asset relates. The total contract cost amortization included in sales and marketing expenses was approximately $6.9 million, $6.6 million and $5.8 million for the years ended January 31, 2025, 2024 and 2023, respectively.