v3.24.3
Goodwill and Intangible Assets
 9 Months Ended
Oct. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
The change in the carrying amounts of goodwill was as follows:
Balance, January 31, 2024$838,869 
Acquisitions68,541 
Translation adjustments1,149 
Balance, October 31, 2024$908,559 
Intangible assets
Intangible assets, net are as follows:
As of January 31, 2024As of October 31, 2024
Gross
Amount		Accumulated
Amortization		Net Carrying
Amount		Gross
Amount		Accumulated
Amortization		Net Carrying
Amount
Developed technology$83,468 $(38,010)$45,458 $88,080 $(44,968)$43,112 
Customer relationships91,704 (22,085)69,619 114,421 (29,983)84,438 
Trademarks and trade name14,624 (14,624)— 424 (256)168 
Other919 (424)495 1,369 (743)626 
$190,715 $(75,143)$115,572 $204,294 $(75,950)$128,344 
During the nine months ended October 31, 2024, the Company wrote off approximately $20.6 million of fully amortized intangible assets and the corresponding accumulated amortization.
The Company recognized amortization expense for intangible assets as follows:
Three Months Ended October 31,Nine Months Ended October 31,
2023202420232024
Cost of subscription revenues$3,990 $4,404 $12,431 $12,926 
Cost of professional services and other revenues82 82 247 247 
Sales and marketing12,880 2,871 18,423 8,215 
Total amortization expense$16,952 $7,357 $31,101 $21,388 
During the third quarter of fiscal 2024, the Company rebranded the SimpleNexus solution to nCino Mortgage, resulting in a change to the trade name useful life and recorded incremental amortization of $10.1 million to fully amortize the remaining trade name intangible asset.
The expected future amortization expense for intangible assets as of October 31, 2024 is as follows:
Fiscal Year Ending January 31,
2025 (remaining)$7,355 
202628,896 
202727,628 
202813,170 
202913,069 
Thereafter38,226 
$128,344 
The expected amortization expense is an estimate. Actual amounts of amortization expense may differ from estimated amounts due to additional intangible asset acquisitions, changes in foreign currency exchange rates, impairment of intangible assets, future changes to expected asset lives of intangible assets, and other events.