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Leases

6 Months Ended

Jul. 31, 2025

7. Leases

There were no material lease agreements entered into, or modified, during the six months ended July 31, 2025. The operating lease expense was approximately $0.9 million and $1.0 million for the three months ended July 31, 2025 and 2024, respectively, and was approximately $1.8 million and $2.0 million for the six months ended July 31, 2025 and 2024, respectively. The Company's short-term leases and finance leases were not material as of July 31, 2025 and January 31, 2025, respectively.

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


	Three Months Ended July 31,				Six Months Ended July 31,
	2025		2024		2025		2024
	(in thousands)
Cash paid for operating leases included in operating cash flows	$	974	$	1,004	$	1,945	$	1,987
Operating lease assets obtained in exchange for lease obligations	$	66	$	3,335	$	66	$	3,335

As of July 31, 2025, the weighted average remaining lease term is 2.16 years, and the weighted average discount rate is 3.25 percent. Future minimum lease payments for the lease liabilities are as follows:


	As of
	July 31, 2025
Fiscal Year	(in thousands)
2026 (6 months remaining)	$	960
2027		1,661
2028		836
2029		27
2030		26
Thereafter		20
Total future annual minimum lease payments		3,530
Less: interest		(88	)
Total lease liabilities	$	3,442