Balance Sheet Components

12 Months Ended

Feb. 06, 2022

Balance Sheet Components Disclosure [Abstract]

Inventory

Inventory consists of the following (in thousands):


	At the End of Fiscal
	2021		2022
Raw materials	$	4,991	$	15,734
Finished goods	41,742		23,208
Inventory	$	46,733	$	38,942

Property and Equipment, Net

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


	At the End of Fiscal
	2021		2022
Test equipment	$	238,069	$	266,672
Computer equipment and software	183,763		206,053
Furniture and fixtures	8,484		8,652
Leasehold improvements	44,444		47,443
Capitalized software development costs	755		8,528
Total property and equipment	475,515		537,348
Less: accumulated depreciation and amortization	(312,474)		(342,066)
Property and equipment, net	$	163,041	$	195,282

Depreciation and amortization expense related to property and equipment was $80.4 million, $57.1 million and $65.9 million for fiscal 2020, 2021 and 2022, respectively.

Intangible Assets, Net

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


	At the End of Fiscal
	2021						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	$	(13,544)	$	5,581
Developed technology	77,373		(17,499)		59,874		80,166		(30,304)		49,862
Customer relationships	6,459		(308)		6,151		6,459		(1,246)		5,213
Trade name	3,623		(403)		3,220		3,623		(1,633)		1,990
Intangible assets, net	$	106,580	$	(29,932)	$	76,648	$	109,373	$	(46,727)	$	62,646

Intangible assets amortization expense was $9.3 million, $13.0 million and $16.8 million for fiscal 2020, 2021 and 2022, respectively. At the end of fiscal 2022, the weighted-average remaining amortization period was 2.0 years for technology patents, 3.9 years for developed technology, 5.6 years for customer relationships, and 1.6 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 consolidated statements of operations.

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


Fiscal Years Ending	Future Expected Amortization Expense
2023	$	16,197
2024	15,776
2025	14,991
2026	12,396
2027	2,673
Thereafter	613
Total	$	62,646

Goodwill

As of the end of fiscal 2021 and 2022, goodwill was $358.7 million. There were no impairments to goodwill during 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		2022
Taxes payable	$	4,097	$	6,312
Accrued marketing	15,638		13,257
Accrued cloud and outside services	2,874		6,135
Supply chain-related accruals	7,461		6,991
Accrued service logistics and professional services	3,122		6,244
Acquisition earn-out	9,600		5,211

Customer deposits from contracts with customers	—		10,409

Other accrued liabilities	18,962		23,952
Total accrued expenses and other liabilities	$	61,754	$	78,511