Balance Sheet Components

3 Months Ended

Apr. 30, 2023

Note 4: Balance Sheet Components

The following sections and tables provide details of selected balance sheet items (in thousands):

Inventories


	As of
	April 30, 2023		January 31, 2023
Finished goods	$	14,331	$	13,715
Raw materials		10,989		12,531
Total inventory	$	25,320	$	26,246

Other current and non-current assets


	As of
	April 30, 2023		January 31, 2023
Deferred sales commissions, current	$	7,580	$	7,826
Prepaid expenses and other		3,089		2,777
Convertible note receivable (see "GTC" below)		2,025		1,899
Other current assets		926		1,866
Total other current assets	$	13,620	$	14,368

Deferred sales commissions, non-current	$	15,807	$	14,467
Other assets		2,165		2,117
Total other non-current assets	$	17,972	$	16,584

Customer Acquisition Costs. Amortization of deferred sales commissions was $2.2 million and $1.7 million for the three months ended April 30, 2023 and 2022, respectively.

Global Telecom Corporation (“GTC”). In December 2018, the Company invested $1.3 million in cash in GTC, a privately-held technology company, in exchange for a convertible promissory note that will convert to shares of GTC stock upon the occurrence of certain future events. As amended, the promissory note and accrued interest is due and payable upon the Company’s demand at any time after June 30, 2023. GTC is a variable interest entity for accounting purposes and the Company does not consolidate GTC into its financial statements because the Company is not the primary beneficiary. As of April 30, 2023, the Company’s maximum exposure to loss is equal to the carrying value of the convertible note receivable of $2.0 million, including accrued interest. As of April 30, 2023, the Company did not have any non-cancelable inventory purchase commitments to GTC.

Accrued expenses and other current liabilities


	As of
	April 30, 2023		January 31, 2023
Payroll and related expenses	$	7,601	$	13,621
Short-term operating lease liabilities		4,165		3,617
Regulatory fees and taxes		3,551		3,609
Customer-related liabilities		853		1,045
Other		4,430		4,834
Total accrued expenses and other current liabilities	$	20,600	$	26,726