Prepaid expenses consisted of the following (in thousands):


	As of
	July 31, 2025		January 31, 2025
Prepaid software and subscriptions	$	14,512	$	14,742
Prepaid insurance		1,723		2,854
Prepaid user conference costs		4,091		236
Prepaid cloud hosting costs		6,215		2,650
Other		5,439		4,309
Total prepaid expenses	$	31,980	$	24,791

Internal-use software development costs were as follows (in thousands):


	As of
	July 31, 2025			January 31, 2025
Internal-use software development costs, gross	$	92,890		$	80,550
Less: Accumulated amortization		(54,908	)		(44,775	)
Internal-use software development costs, net	$	37,982		$	35,775

The Company capitalized internal-use software development costs of $6.5 million and $6.9 million for the three months ended July 31, 2025 and 2024, respectively, and $12.3 million and $12.2 million for the six months ended July 31, 2025 and 2024, respectively. Amortization expense for the capitalized internal-use software development costs included in platform cost of revenue was $5.1 million and $3.7 million for the three months ended July 31, 2025 and 2024, respectively and $10.1 million and

$6.8 million for the six months ended July 31, 2025 and 2024, respectively. Amortization did not begin on $3.6 million and $3.2 million of capitalized internal-use software development costs that were not yet ready for their intended use as of July 31, 2025 and January 31, 2025, respectively.

As of July 31, 2025, expected future amortization expense related to capitalized internal-use software development costs was as follows (in thousands):


Fiscal
2026 (remainder)	$	10,346
2027		16,228
2028		9,653
2029		1,755
Total	$	37,982

Property and equipment consisted of the following (in thousands, except years):


	As of
	July 31,			January 31,			Estimated Useful Lives
	2025			2025			in Years
Computer equipment	$	15,973		$	13,824		3
Office equipment		6,930			7,017		3
Furniture and fixtures		13,022			13,498		5
Leasehold improvements		59,418			64,935		3 to 7
Property and equipment, gross		95,343			99,274
Less: Accumulated depreciation		(49,699	)		(42,607	)
Total property and equipment, net	$	45,644		$	56,667

Depreciation expense was $3.7 million and $4.6 million for the three months ended July 31, 2025 and 2024, respectively, and $7.3 million and $9.8 million for the six months ended July 31, 2025 and 2024, respectively.

In the three months ended July 31, 2024 and six months ended July 31, 2025 and 2024, the Company ceased use of certain office space and determined to sublease such space for the remainder of the lease term, which resulted in the Company reassessing its asset groupings. The Company determined the office space asset groups, comprised primarily of a right of use (“ROU”) asset, the related leasehold improvements and other property and equipment, were impaired and recorded an aggregate impairment loss of $10.1 million, $8.0 million and $30.2 million for the three months ended July 31, 2024 and six months ended July 31, 2025 and 2024, respectively, to reduce the carrying value of the asset groups to their estimated fair value. The impairments resulted in a reduction of the ROU asset by $3.5 million, $1.9 million, and $10.2 million in the three months ended July 31, 2024 and six months ended July 31, 2025 and 2024, respectively, and leasehold improvements, furniture and fixtures and office equipment by $6.6 million, $6.1 million, and $20.0 million in the three months ended July 31, 2024 and six months ended July 31, 2025 and 2024, respectively. There was no impairment of long-lived assets during the three months ended July 31, 2025.

The impairments were recorded in the unaudited condensed consolidated statement of operations as follows:


	Three Months Ended July 31,				Six Months Ended July 31,
	2025		2024		2025		2024
Platform cost of revenue	$	—	$	1,373	$	960	$	4,201
Professional services and other cost of revenue		—		675		751		1,993
Sales and marketing		—		1,784		1,765		5,433
Research and development		—		1,765		1,679		5,243
General and administrative		—		4,490		2,877		13,298
Total impairment	$	—	$	10,087	$	8,032	$	30,168

The estimated fair value of the asset groups was determined by using a discounted cash flow method which is a non-recurring fair value measurement based on Level 3 inputs. Key inputs used in this estimate included projected sublease income and a discount rate which incorporated the risk of achievement associated with the forecast. Other than the aforementioned impairment losses, the Company did not recognize any other material impairment losses of long-lived assets for the three and six months ended July 31, 2025 and 2024.

Substantially all of the Company’s property and equipment, net, were concentrated in the United States as of July 31, 2025 and January 31, 2025.

Accounts payable and other accrued expenses consisted of the following (in thousands):


	As of
	July 31, 2025		January 31, 2025
Trade payables	$	8,446	$	6,032
Non-income tax liabilities		13,060		16,371
Cloud hosting costs		6,892		4,920
Marketing and advertising costs		1,176		645
Accrued interest payable		633		632
Income taxes payable		578		765
Other		12,442		10,817
Total accounts payable and other accrued expenses	$	43,227	$	40,182

Accrued personnel related expenses consisted of the following (in thousands):


	As of
	July 31, 2025		January 31, 2025
Payroll expenses	$	20,473	$	12,122
Accrued bonus		30,411		61,194
Commissions		6,495		6,844
Total accrued personnel related expenses	$	57,379	$	80,160