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Leases

3 Months Ended

Apr. 30, 2025

7. Leases

There were no material lease agreements entered into, or modified, during the three months ended April 30, 2025. The operating lease expense was approximately $0.9 million and $1.0 million for the three months ended April 30, 2025 and 2024, respectively. The Company's short-term leases and finance leases were not material as of April 30, 2025 and January 31, 2025, respectively.

Supplemental cash flow information related to the operating leases is as follows:


	Three Months Ended April 30,
	2025		2024
	(in thousands)
Cash paid for operating leases included in operating cash flows	$	971	$	983
Operating lease assets obtained in exchange for lease obligations	$	66	$	—

As of April 30, 2025, the weighted average remaining lease term is 2.12 years, and the weighted average discount rate is 3.38 percent. Future minimum lease payments for the lease liabilities are as follows:


	As of
	April 30, 2025
Fiscal Year	(in thousands)
2026 (9 months remaining)	$	1,967
2027		1,644
2028		821
2029		26
2030		26
Thereafter		19
Total future annual minimum lease payments		4,503
Less: interest		(112	)
Total lease liabilities	$	4,391