v3.24.2.u1
Deferred Contract Costs
 6 Months Ended
Jul. 31, 2024
Revenue from Contract with Customer [Abstract]  
Deferred Contract Costs Deferred Contract Costs
Deferred contract costs, which primarily consist of deferred sales commissions, were $44.0 million and $44.6 million as of July 31, 2024 and January 31, 2024, respectively. Amortization expense for deferred contract costs was $5.4 million and $5.2 million for the three months ended July 31, 2024 and 2023, respectively, and $10.7 million and $10.2 million for the six months ended July 31, 2024 and 2023, respectively. There was no impairment charge related to the costs capitalized for the periods presented.
Deferred Revenue and Performance Obligations
The following table presents the changes to the Company’s deferred revenue for the periods indicated (in thousands):
Three months ended July 31,Six months ended July 31,
2024202320242023
Deferred revenue, beginning of period$223,593 $201,805 $228,161 $209,051 
Billings110,231 102,416 216,835 198,416 
Revenue recognized(115,935)(107,616)(227,107)(210,862)
Deferred revenue, end of period$217,889 $196,605 $217,889 $196,605 

For the three and six months ended July 31, 2024 and 2023, the majority of revenue recognized was from the deferred revenue balances at the beginning of each period.

The transaction price allocated to the remaining performance obligations represents all future, non-cancelable contracted revenue that has not yet been recognized, inclusive of deferred revenue that has been invoiced and non-cancelable amounts that will be invoiced and recognized as revenue in future periods.

Beginning in the first quarter of fiscal 2025, the Company began to include contracts with an original term of less than 12 months in this disclosure. Such contracts comprised $128 million of remaining non-cancelable performance obligations as of July 31, 2024.
As of July 31, 2024, total remaining non-cancelable performance obligations under cloud-hosted and term-license software subscription contracts with customers was approximately $403 million. Of this amount, the Company expects to recognize revenue of approximately $280 million, or 69.5%, over the next 12 months with the balance to be recognized as revenue thereafter