Composition of Certain Financial Statement Items

3 Months Ended

Apr. 30, 2024

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:

	April 30, 2024		January 31, 2024
	(in thousands)
Raw materials	$	3,208	$	5,322
Finished goods and components	220,349		193,258
Total Inventories	$	223,557	$	198,580

Prepaid expense and other current assets

Prepaid expense and other current assets consisted of the following:

	April 30, 2024		January 31, 2024
	(in thousands)
Prepaid expense	$	45,979	$	43,389
Other current assets	18,694		18,855
Total Prepaid Expense and Other Current Assets	$	64,673	$	62,244

Property and Equipment, net

Property and equipment, net consisted of the following:

	April 30, 2024		January 31, 2024
	(in thousands)
Furniture and fixtures	$	1,710	$	1,718
Computers and software	9,352		8,520
Machinery and equipment	37,673		35,954
Tooling	16,006		15,852
Leasehold improvements	9,347		9,828
Owned and operated systems	28,607		27,723
Construction in progress	1,545		2,310
	104,240		101,905
Less: Accumulated depreciation	(63,226)		(59,459)
Total Property and Equipment, Net	$	41,014	$	42,446

The following table presents the depreciation expense:

	Three Months Ended April 30,
	2024	2023
	(in thousands)
Depreciation expense	4,421	4,016

Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following:

	April 30, 2024		January 31, 2024
	(in thousands)
Accrued expenses	$	40,063	$	51,399
Accrued losses on purchase commitments	29,437		30,054
Refundable customer deposits	16,711		16,588
Payroll and related expenses	14,146		16,018
Other current liabilities	40,751		45,045
Total Accrued and Other Current Liabilities	$	141,108	$	159,104

Revenue

Revenue consisted of the following:

	Three Months Ended April 30,
	2024		2023
	(in thousands)
United States	$	78,814	$	97,132
Rest of World	28,228		32,898
Total revenue	$	107,042	$	130,030

Deferred Revenue

The following table shows the total deferred revenue for each period presented.

	April 30, 2024	January 31, 2024
	(in thousands)
Deferred revenue	234,695	231,439

The following table shows the revenue recognized that was included in the deferred revenue balance at the beginning of the period.

	Three Months Ended April 30,
	2024		2023
	(in thousands)
Deferred revenue recognized	$	31,803	$	26,014

Remaining Performance Obligations

Remaining performance obligations represent the amount of contracted future revenue not yet recognized as the amounts relate to undelivered performance obligations, including both deferred revenue and non-cancellable contracted amounts that will be invoiced and recognized as revenue in future periods. Revenue expected to be recognized from remaining performance obligations was $258.0 million as of April 30, 2024, of which 43% is expected to be recognized over the next twelve months.