Property and Equipment, Net

3 Months Ended

Apr. 30, 2025

Property, Plant and Equipment [Abstract]

Property and equipment, net consisted of the following:


(in thousands)	April 30, 2025		January 31, 2025
Computer and network equipment	$	133,052	$	133,486
Software, including capitalized software development costs	302,311		278,918
Furniture and office equipment	22,413		20,360
Leasehold improvements	64,331		64,012
	522,107		496,776
Less: Accumulated depreciation	(322,992)		(303,676)
	199,115		193,100
Work in progress	111,035		106,270
Total	$	310,150	$	299,370

Depreciation and amortization expense associated with property and equipment was $23.4 million and $19.8 million for the three months ended April 30, 2025 and 2024. This included amortization expense related to capitalized internally developed software costs of $17.4 million and $11.7 million for the three months ended April 30, 2025 and 2024.

For the three months ended April 30, 2025 and 2024, we capitalized $29.7 million and $24.7 million of internally developed software, including $10.0 million and $8.6 million of capitalized stock-based compensation expense in the three months ended April 30, 2025 and 2024.