Balance Sheet Components

6 Months Ended

Aug. 01, 2021

Balance Sheet Components Disclosure [Abstract]

Inventory

Inventory consists of the following (in thousands):


	At the End of
	Fiscal 2021		Second Quarter of Fiscal 2022
Raw materials	$	4,991	$	8,443
Finished goods	41,742		38,726
Inventory	$	46,733	$	47,169

Property and Equipment, Net

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


	At the End of
	Fiscal 2021		Second Quarter of Fiscal 2022
Test equipment	$	238,069	$	255,982
Computer equipment and software	184,518		207,734
Furniture and fixtures	8,484		8,492
Leasehold improvements	44,444		44,456
Total property and equipment	475,515		516,664
Less: accumulated depreciation and amortization	(312,474)		(332,616)
Property and equipment, net	$	163,041	$	184,048

Depreciation and amortization expense related to property and equipment was $13.8 million and $15.2 million for the second quarter of fiscal 2021 and 2022, and $26.2 million and $29.7 million for the first two quarters of fiscal 2021 and 2022. No amount of internal-use software development costs were capitalized during the second quarter and first two quarters of fiscal 2021 and the amount capitalized and related amortization expense during the second quarter and first two quarters of fiscal 2022 were not material.

Intangible Assets, Net

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


	At the End of
	Fiscal 2021						Second Quarter of Fiscal 2022
	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount		Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
Technology patents	$	19,125	$	(11,722)	$	7,403	$	19,125	$	(12,891)	$	6,234
Developed technology	77,373		(17,499)		59,874		77,373		(23,635)		53,738
Customer relationships	6,459		(308)		6,151		6,459		(769)		5,690
Trade name	3,623		(403)		3,220		3,623		(1,006)		2,617
Intangible assets, net	$	106,580	$	(29,932)	$	76,648	$	106,580	$	(38,301)	$	68,279

Intangible assets amortization expense was $2.7 million and $4.1 million for the second quarter of fiscal 2021 and 2022, and $5.4 million and $8.4 million for the first two quarters of fiscal 2021 and 2022. At the end of the second quarter of fiscal 2022, the weighted-average remaining amortization period was 2.3 years for technology patents, 4.4 years for developed technology, 6.2 years for customer relationships, and 2.2 years for trade name. We recorded amortization of technology patents in general and administrative expenses due to their defensive nature, developed technology in cost of product revenue, and customer relationships and trade name in sales and marketing expenses in the condensed consolidated statements of operations.

At the end of the second quarter of fiscal 2022, future expected amortization expense for intangible assets is as follows (in thousands):


Fiscal Years Ending	Estimated Future Amortization Expense
Remainder of 2022	$	7,862
2023	15,685
2024	15,282
2025	14,477
2026	11,924
Thereafter	3,049
Total	$	68,279

Goodwill

As of the end of fiscal 2021 and the second quarter of fiscal 2022, goodwill was $358.7 million. There were no impairments to goodwill during the second quarter and first two quarters of fiscal 2021 and 2022.

Accrued Expenses and Other Liabilities

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


	At the End of
	Fiscal 2021		Second Quarter of Fiscal 2022
Taxes payable	$	4,097	$	4,892
Accrued marketing	15,638		10,125
Accrued travel and entertainment expenses	866		1,007
Acquisition consideration	9,600		4,154
Other accrued liabilities	31,553		32,865
Total accrued expenses and other liabilities	$	61,754	$	53,043