v3.24.3
Balance Sheet Components
 9 Months Ended
Oct. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Balance Sheet Components Balance Sheet Components
Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):
October 31, 2024January 31, 2024
Data center and other computer equipment$694,817 $525,890 
Capitalized internal-use software and website development costs248,397 183,117 
Leasehold improvements42,083 39,168 
Purchased software15,355 10,907 
Furniture and equipment10,289 8,524 
Construction in progress210,581 190,832 
1,221,522 958,438 
Less: Accumulated depreciation and amortization(474,955)(338,266)
Property and equipment, net$746,567 $620,172 
Construction in progress primarily includes data center equipment purchased that has not yet been placed in service. Data center equipment that was purchased but not yet been placed into service was $177.0 million as of October 31, 2024.
Depreciation and amortization expense of property and equipment was $49.0 million and $33.8 million during the three months ended October 31, 2024 and October 31, 2023, respectively, and $137.9 million and $90.0 million during the nine months ended October 31, 2024 and October 31, 2023, respectively.
There was no impairment of property and equipment during the three and nine months ended October 31, 2024 and October 31, 2023. The Company capitalized $27.9 million and $19.8 million in internal-use software and website development costs during the three months ended October 31, 2024 and October 31, 2023, respectively, and $70.4 million and $60.0 million during the nine months ended October 31, 2024 and October 31, 2023, respectively. Amortization expense associated with internal-use software and website development costs totaled $14.8 million and $9.5 million during the three months ended October 31, 2024 and October 31, 2023, respectively, and $41.4 million and $25.4 million during the nine months ended October 31, 2024 and October 31, 2023, respectively. The net book value of capitalized internal-use software and website development costs was $135.8 million and $106.9 million as of October 31, 2024 and January 31, 2024, respectively.
Intangible Assets, Net
Total intangible assets, net consisted of the following (dollars in thousands):
October 31, 2024Weighted-Average
Remaining 
Useful
Life
Gross Carrying AmountAccumulated AmortizationNet Amount
(in months)
Developed technology$144,849 $57,666 $87,183 54
Customer relationships17,029 7,635 9,394 62
Intellectual property and other acquired intangible assets15,843 3,066 12,777 115
Total$177,721 $68,367 $109,354 
January 31, 2024Weighted-Average
Remaining 
Useful
Life
Gross Carrying AmountAccumulated AmortizationNet Amount
(in months)
Developed technology$131,346 $41,854 $89,492 60
Customer relationships17,027 5,825 11,202 68
Intellectual property and other acquired intangible assets15,842 2,018 13,824 123
Total$164,215 $49,697 $114,518 
Amortization expense of intangible assets was $6.3 million and $4.6 million during the three months ended October 31, 2024 and October 31, 2023, and $18.7 million and $12.9 million during the nine months ended October 31, 2024 and October 31, 2023, respectively.
The estimated aggregate future amortization expense of intangible assets as of October 31, 2024 was as follows (in thousands):
Total
Fiscal 2025 (remaining three months) $6,332 
Fiscal 202624,240 
Fiscal 202722,065 
Fiscal 202821,552 
Fiscal 202918,799 
Thereafter16,366 
Total amortization expense$109,354 
Developed technology, customer relationships, intellectual property and other acquired intangible assets are amortized over their estimated useful lives, generally on a straight-line basis, for periods ranging from 2 to 20 years.
Goodwill
The change in goodwill during the nine months ended October 31, 2024 consisted of the following (in thousands):
Amounts
Goodwill as of January 31, 2024
$638,041 
Goodwill acquired (1)
83,957 
Foreign currency translation18 
Goodwill as of October 31, 2024
$722,016 
(1) Goodwill acquired resulted from the acquisition of Flow Security. Refer to Note 9 for additional information.
Accrued Expenses
Accrued expenses consisted of the following (in thousands):
October 31, 2024January 31, 2024
Web hosting services$50,545 $40,706 
Accrued professional services28,443 11,867 
Accrued marketing27,387 14,623 
Accrued purchases of property and equipment22,192 16,190 
Accrued partner rebates17,997 4,434 
Accrued partner commissions 16,509 13,584 
Other accrued expenses6,658 9,078 
Accrued interest expense4,750 10,375 
Accrued health benefits and claims2,117 5,039 
Accrued expenses$176,598 $125,896 
Accrued Payroll and Benefits
Accrued payroll and benefits consisted of the following (in thousands):
October 31, 2024January 31, 2024
Accrued commissions$191,241 $116,870 
Accrued payroll and related expenses59,475 58,579 
Employee Stock Purchase Plan37,748 22,315 
Accrued bonuses36,425 36,860 
Accrued payroll and benefits$324,889 $234,624