| Intangible Assets and Goodwill |
7.Intangible Assets and Goodwill Intangible Assets The net book values of intangible assets were as follows (in thousands, except years):
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As of April 30, 2025 |
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|
Gross Fair
Value |
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|
Accumulated
Amortization |
|
|
Net Book
Value |
|
|
Weighted
Average
Remaining
Useful Life
(years) |
|
Customer relationships |
|
$ |
205,233 |
|
|
$ |
(78,447 |
) |
|
$ |
126,786 |
|
|
|
7.5 |
|
Developed technology |
|
|
159,001 |
|
|
|
(83,077 |
) |
|
|
75,924 |
|
|
|
3.6 |
|
Tradenames |
|
|
6,683 |
|
|
|
(5,823 |
) |
|
|
860 |
|
|
|
0.9 |
|
Total |
|
$ |
370,917 |
|
|
$ |
(167,347 |
) |
|
$ |
203,570 |
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|
|
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|
|
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|
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As of January 31, 2025 |
|
|
|
Gross Fair
Value |
|
|
Accumulated
Amortization |
|
|
Net Book
Value |
|
|
Weighted
Average
Remaining
Useful Life
(years) |
|
Customer relationships |
|
$ |
205,233 |
|
|
$ |
(73,248 |
) |
|
$ |
131,985 |
|
|
|
7.7 |
|
Developed technology |
|
|
159,001 |
|
|
|
(77,210 |
) |
|
|
81,791 |
|
|
|
3.8 |
|
Tradenames |
|
|
6,683 |
|
|
|
(5,507 |
) |
|
|
1,176 |
|
|
|
1.1 |
|
Total |
|
$ |
370,917 |
|
|
$ |
(155,965 |
) |
|
$ |
214,952 |
|
|
|
|
Amortization expense for intangible assets was as follows for the three months ended April 30, 2025 and 2024 (in thousands):
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Three Months Ended April 30, |
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|
2025 |
|
|
2024 |
|
Platform cost of revenue |
|
$ |
5,533 |
|
|
$ |
5,303 |
|
Professional services and other
cost of revenue |
|
|
334 |
|
|
|
784 |
|
Sales and marketing |
|
|
5,515 |
|
|
|
5,450 |
|
Total |
|
$ |
11,382 |
|
|
$ |
11,537 |
|
As of April 30, 2025, estimated future amortization expense related to the intangible assets is as follows (in thousands):
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|
|
|
Fiscal |
|
|
|
2026 (remainder) |
|
$ |
33,389 |
|
2027 |
|
|
37,690 |
|
2028 |
|
|
36,422 |
|
2029 |
|
|
33,921 |
|
2030 |
|
|
17,425 |
|
Thereafter |
|
|
44,723 |
|
Total |
|
$ |
203,570 |
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Goodwill Goodwill was $845.8 million as of January 31, 2025 and remained unchanged as of April 30, 2025. There was no impairment of goodwill during the three months ended April 30, 2025 and 2024.
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