Composition of Certain Financial Statement Items

9 Months Ended

Oct. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Composition of Certain Financial Statement Items

Composition of Certain Financial Statement Items

Inventories

Inventories consisted of the following:

	October 31, 2022		January 31, 2022
	(in thousands)
Raw materials	$	15,285	$	9,712
Finished goods and components	47,164		26,167
Total Inventories	$	62,449	$	35,879

Prepaid expense and other current assets

Prepaid expense and other current assets consisted of the following:

	October 31, 2022		January 31, 2022
	(in thousands)
Prepaid expense	$	38,018	$	16,951
Other current assets	20,571		19,652
Total Prepaid Expense and Other Current Assets	$	58,589	$	36,603

Property and Equipment, net

Property and equipment, net consisted of the following:

	October 31, 2022		January 31, 2022
	(in thousands)
Furniture and fixtures	$	1,169	$	903
Computers and software	6,938		6,147
Machinery and equipment	23,296		16,193
Tooling	12,823		10,572
Leasehold improvements	9,269		10,549
Owned and operated systems	23,392		22,546
Construction in progress	2,864		2,720
	79,751		69,630
Less: Accumulated depreciation	(41,045)		(35,037)
Total Property and Equipment, Net	$	38,706	$	34,593

The following table presents the depreciation expense:

	Three Months Ended October 31,				Nine Months Ended October 31,
	2022		2021		2022		2021
	(in thousands)
Depreciation expense	3,249		3,064		9,909		8,640
Total depreciation expense	$	3,249	$	3,064	$	9,909	$	8,640

Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following:

	October 31, 2022		January 31, 2022
	(in thousands)
Accrued expenses	$	43,827	$	31,865
Refundable customer deposits	13,055		9,409
Payroll and related expenses	18,594		16,131
Taxes payable	12,058		8,955
Other liabilities(1)	24,376		17,968
Total Accrued and Other Current Liabilities	$	111,910	$	84,328

(1) Beginning July 31, 2022, ViriCiti Earnout liability was reclassified from long-term liabilities to current liabilities as the Company expects the liability to be payable within twelve months of July 31, 2022.

Revenue

Revenue consisted of the following:

	Three Months Ended October 31,				Nine Months Ended October 31,
	2022		2021		2022		2021
	(in thousands)
United States	$	101,559	$	54,561	$	248,485	$	139,321
Rest of World	23,782		10,473		66,782		22,344
Total revenue	$	125,341	$	65,034	$	315,267	$	161,665