Leases

3 Months Ended

Apr. 30, 2025

The Company leases office space under non-cancelable operating leases with various expiration dates through 2027. These leases require monthly lease payments that may be subject to annual increases throughout the lease term.

Components of lease expense are summarized as follows (in thousands):


	Three Months Ended April 30,
	2024		2025
Operating lease expense	$	1,492	$	1,440
Short-term lease expense	288		286
Total lease expense	$	1,780	$	1,726

Sublease income	$	189	$	306

Lease term and discount rate information are summarized as follows:


			As of April 30, 2025
Weighted average remaining lease term (years)			2.0
Weighted average discount rate			11.1%

Maturities of lease liabilities as of April 30, 2025 were as follows (in thousands):


Year Ending January 31:
2026	$	5,008
2027	6,381
2028	1,834
Thereafter	—
Total lease payments	13,223
Less imputed interest	(1,026)
Present value of lease liabilities	$	12,197

Cash paid for operating leases was $1.7 million and $1.6 million during the three months ended April 30, 2024 and 2025, respectively, and was included in net cash used in operating activities in the condensed consolidated statements of cash flows.

The Company has entered into sublease agreements with various expiration dates through 2027. Under these agreements, the Company expects to receive sublease income of approximately $2.8 million as of April 30, 2025.

In September 2024, the Company entered into an agreement to lease office space from a current landlord to replace existing office space. The lease term commences in June 2025 and runs for a period of approximately three years, with rent payments over the term of the lease totaling approximately $5.8 million as of the date of the agreement.