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Balance Sheet Components
 3 Months Ended
May 05, 2024
Balance Sheet Components Disclosure [Abstract]  
Balance Sheet Components Balance Sheet Components
Inventory
Inventory consists of the following (in thousands):
At the End of
Fiscal 2024
First Quarter of Fiscal 2025
Raw materials$19,317 $18,130 
Finished goods23,346 22,544 
Inventory$42,663 $40,674 
Property and Equipment, Net
Property and equipment, net consists of the following (in thousands):
 
At the End of
 Fiscal 2024
First Quarter of Fiscal 2025
Test equipment$371,269 $390,646 
Computer equipment and software319,636 332,358 
Furniture and fixtures12,547 12,804 
Leasehold improvements92,926 97,629 
Capitalized software development costs36,474 42,789 
Total property and equipment832,852 876,226 
Less: accumulated depreciation and amortization(480,248)(508,073)
Property and equipment, net$352,604 $368,153 
Depreciation and amortization expense related to property and equipment was $26.6 million and $31.1 million for the first quarter of fiscal 2024 and 2025.
Intangible Assets, Net
Intangible assets, net consist of the following (in thousands):
 
At the End of
 Fiscal 2024
First Quarter of Fiscal 2025
Gross Carrying ValueAccumulated AmortizationNet Carrying AmountGross Carrying ValueAccumulated AmortizationNet Carrying Amount
Technology patents$19,125 $(16,107)$3,018 $19,125 $(16,428)$2,697 
Developed technology83,211 (56,589)26,622 83,211 (59,894)23,317 
Customer relationships6,459 (3,087)3,372 6,459 (3,317)3,142 
Trade name
3,623 (3,623)— 3,623 (3,623)— 
Intangible assets, net$112,418 $(79,406)$33,012 $112,418 $(83,262)$29,156 
 
 Intangible assets amortization expense was $4.2 million and $3.9 million for the first quarter of fiscal 2024 and 2025. At the end of the first quarter of fiscal 2025, the weighted-average remaining amortization period was 1.0 years for technology patents, 1.8 years for developed technology, and 3.4 years for customer relationships. We record amortization of technology patents in general and administrative expenses due to their defensive nature, developed technology in cost of product revenue, and customer relationships in sales and marketing expenses in the condensed consolidated statements of operations.
At the end of the first quarter of fiscal 2025, future expected amortization expense for intangible assets is as follows (in thousands):
Fiscal Years EndingEstimated Future
Amortization Expense
Remainder of 2025$11,569 
202612,830 
20273,107 
20281,054 
2029434 
Thereafter162 
Total$29,156 
Goodwill
As of the end of fiscal 2024 and the first quarter of fiscal 2025, goodwill was $361.4 million. There were no impairments to goodwill during the first quarter of fiscal 2024 and 2025.
Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consist of the following (in thousands):
At the End of
 Fiscal 2024
First Quarter of Fiscal 2025
Taxes payable $13,097 $13,665 
Accrued marketing18,438 13,771 
Accrued cloud and outside services5,973 4,523 
Supply chain-related accruals (1)
25,962 18,335 
Accrued service logistics and professional services9,636 10,370 
Finance lease liabilities, current4,204 4,384 
Customer deposits from contracts with customers23,534 22,981 
Other accrued liabilities34,911 39,856 
Total accrued expenses and other liabilities$135,755 $127,885 
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(1) Primarily consists of warranty reserves and accruals related to inventory and inventory purchase commitments with our contract manufacturers.