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Accrued and Other Current Liabilities

6 Months Ended

Jul. 31, 2023

6. Accrued and Other Current Liabilities

Accrued and other current liabilities at July 31, 2023 and January 31, 2023 consisted of the following:


	As of
	July 31, 2023		January 31, 2023
	(in thousands)
Accrued employee compensation	$	16,784	$	22,152
Accrued product development costs		21,713		19,433
Software license liabilities, current		8,889		7,059
Other accrued liabilities		6,646		8,011
Total accrued and other current liabilities	$	54,032	$	56,655

The timing of SoC development and invoicing from outside foundries usually results in the fluctuation of accrued product development costs. Approximately $5.6 million of annual bonus was paid in the first quarter of fiscal year 2024, of which $1.1 million was paid in cash and $4.5 million was settled with restricted stock units.