| Intangible Assets |
INTANGIBLE ASSETS Intangible assets, net consisted of the following (in thousands): | | | | | | | | | | | | | As of April 30, | | As of January 31, | | 2024 | | 2024 | | Developed technology | $ | 87,700 | | | $ | 78,700 | | | Customer relationships | 85,000 | | | 82,300 | | | Backlog | 11,100 | | | 11,100 | | | Non-compete agreements | 650 | | | 650 | | | Trademarks | 150 | | | 150 | | | Patents | 5,079 | | | 5,016 | | | Total finite-lived intangible assets | 189,679 | | | 177,916 | | | Less: accumulated amortization | (63,092) | | | (55,268) | | | Total finite-lived intangible assets, net | $ | 126,587 | | | $ | 122,648 | | | Indefinite-lived intangible assets - domain names | 255 | | | 255 | | | Total intangible assets, net | $ | 126,842 | | | $ | 122,903 | |
Amortization expense of intangible assets was $7.7 million and $7.0 million for the three months ended April 30, 2024 and 2023, respectively. As of April 30, 2024, estimated future amortization expense is as follows (in thousands): | | | | | | | | | | Fiscal Year Ending January 31, | | | Remainder of 2025 | | $ | 19,786 | | | 2026 | | 26,166 | | | 2027 | | 26,166 | | | 2028 | | 16,407 | | | 2029 | | 10,571 | | | Thereafter | | 27,491 | | | Total | | $ | 126,587 | |
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