Accrued and other current liabilities at April 30, 2026 and January 31, 2026 consisted of the following:


	As of
	April 30, 2026		January 31, 2026
	(in thousands)
Accrued employee compensation	$	16,364	$	31,251
Accrued product development costs		45,596		37,233
Software license liabilities, current		11,090		11,439
Development deposit liability		13,500		13,500
Other accrued liabilities		5,969		4,541
Total accrued and other current liabilities	$	92,519	$	97,964

The accrued employee compensation primarily consists of accrued payroll and accrued employee benefits, as well as employee stock purchase plan withholding. For the accrued employee compensation as of January 31, 2026, approximately $14.1 million of annual bonus was paid in the first quarter of fiscal year 2027, of which $8.6 million was paid in cash and $5.5 million was settled with fully vested restricted stock units. The timing of new and next-gen SoC development and invoicing from outside foundries usually results in fluctuation of accrued product development costs. The $13.5 million of development deposit liability represents a cash advance from a customer for funding a development project that is subject to certain refund conditions. On May 12, 2026, the Company terminated the project with the customer. Pursuant to the terms of the termination agreement, the Company agreed to refund $4.5 million of the deposit. Refer to Note 16 Subsequent Events of Notes to Condensed Consolidated Financial Statements for detailed information.