Balance Sheet Components

12 Months Ended

Jan. 31, 2022

Note 5: Balance Sheet Components

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

Inventories

	As of
	January 31, 2022		January 31, 2021
Finished goods	$	10,452	$	11,057
Raw materials		3,389		1,176
Total inventory	$	13,841	$	12,233

Property and equipment, net

		As of
	Estimated life (in years)	January 31, 2022			January 31, 2021
Computer hardware and software	3-4	$	6,996		$	6,944
Network and engineering equipment	3-5		4,979			4,164
Website development costs	2		4,816			3,191
Customer premise equipment	3		3,965			2,041
Leasehold improvements	1-5		447			418
Office furniture and fixtures	5		124			124
Total property and equipment			21,327			16,882
Less: accumulated depreciation and amortization			(14,846	)		(11,811	)
Property and equipment, net		$	6,481		$	5,071

Depreciation and amortization of property and equipment totaled $3.1 million, $2.9 million and $2.5 million in fiscal 2022, 2021 and 2020, respectively.

Other current and non-current assets

	As of
	January 31, 2022		January 31, 2021
Deferred sales commissions, current	$	6,395	$	4,689
Prepaid expenses		4,239		3,152
Convertible note receivable (see "GTC" below)		1,773		1,605
Deferred inventory costs		344		381
Other current assets		847		395
Total other current assets	$	13,598	$	10,222

Deferred sales commissions, non-current	$	13,228	$	11,474
Other non-current assets		647		736
Total other non-current assets	$	13,875	$	12,210

Customer Acquisition Costs. Amortization expense for total deferred sales commissions was $6.0 million, $3.9 million and $2.2 million for fiscal 2022, 2021 and 2020, 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, 2022. The Company has also partnered with GTC on certain inventory procurement and research and development activities. 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. The Company’s maximum exposure to loss is equal to the carrying value of the convertible note receivable, including accrued interest. During fiscal 2022, the Company made total payments to GTC of approximately $2.7 million for inventory purchases and related shipping costs. As of January 31, 2022 and 2021, the Company’s non-cancelable inventory purchase commitments to GTC were immaterial.

Accrued expenses and other current liabilities

	As of
	January 31, 2022		January 31, 2021
Payroll and related expenses	$	10,853	$	11,062
Regulatory fees and taxes		3,933		4,141
Short-term operating lease liabilities		3,260		3,831
Customer-related liabilities		1,587		1,262
Other		3,190		2,435
Total accrued expenses and other current liabilities	$	22,823	$	22,731