Balance Sheet Components

6 Months Ended

Aug. 02, 2020

Balance Sheet Components Disclosure [Abstract]

Inventory

Inventory consists of the following (in thousands):


	At the End of
	Fiscal 2020		Second Quarter of Fiscal 2021
Raw materials	$	2,974	$	3,647
Finished goods	35,544		32,716
Inventory	$	38,518	$	36,363

Property and Equipment, Net

Property and equipment, net consists of the following (in thousands):


	At the End of
	Fiscal 2020		Second Quarter of Fiscal 2021
Test equipment	$	205,555	$	222,682
Computer equipment and software	141,387		160,159
Furniture and fixtures	8,324		8,831
Leasehold improvements	40,356		42,568
Total property and equipment	395,622		434,240
Less: accumulated depreciation and amortization	(272,882)		(289,114)
Property and equipment, net	$	122,740	$	145,126

Depreciation and amortization expense related to property and equipment was $19.9 million and $13.8 million for the second quarter of fiscal 2020 and 2021, and $39.7 million and $26.2 million for the first two quarters of fiscal 2020 and 2021.

Intangible Assets, Net

Intangible assets, net consist of the following (in thousands):


	At the End of
	Fiscal 2020										Second Quarter of Fiscal 2021
	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount		Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Technology patents	$	19,125	$	(8,933)	$	10,192	$	19,125	$	(10,327)	$	8,798
Developed technology	56,100		(8,035)		48,065		56,100		(12,043)		44,057
Intangible assets, net	$	75,225	$	(16,968)	$	58,257	$	75,225	$	(22,370)	$	52,855

Intangible assets amortization expense was $2.6 million and $2.7 million for the second quarter of fiscal 2020 and 2021, and $3.9 million and $5.4 million for the first two quarters of fiscal 2020 and 2021. At the end of the second quarter of fiscal 2021, the weighted-average remaining amortization period was 3.2 years for technology patents and 5.5 years for developed technology. Amortization of the technology patents is included in general and administrative expenses due to their defensive nature and amortization of developed technology is included in cost of product revenue in the condensed consolidated statements of operations.

At the end of the second quarter of fiscal 2021, future expected amortization expense for intangible assets is as follows (in thousands):


Fiscal Years Ending	Estimated Future Amortization Expense
Remainder of 2021	$	5,402
2022	9,846
2023	9,300
2024	9,300
2025	9,300
Thereafter	9,707
Total	$	52,855

Goodwill

At the end of fiscal 2020 and the second quarter of fiscal 2021, goodwill was $37.6 million. There were no impairments to goodwill during the second quarter and first two quarters of fiscal 2020 and 2021.

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consist of the following (in thousands):


	At the End of
	Fiscal 2020		Second Quarter of Fiscal 2021
Taxes payable	$	9,012	$	6,437
Accrued marketing	7,679		12,865
Accrued travel and entertainment expenses	3,829		909
Acquisition consideration	6,149		2,628
Other accrued liabilities	20,554		23,979
Total accrued expenses and other liabilities	$	47,223	$	46,818