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Balance Sheet Components | 12 Months Ended
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Jan. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Balance Sheet Components | Balance Sheet Components Property and Equipment, Net Property and equipment, net consists of the following:
| January 31,
(in thousands) | 2022 |  | 2021
Satellites* | $ | 310,861 |  |  | $ | 302,577 |
Leasehold improvements | 15,448 |  |  | 15,630 |
Ground stations and ground station equipment | 12,685 |  |  | 12,560 |
Office furniture, equipment and fixtures | 5,335 |  |  | 4,995 |
Computer equipment and purchased software | 8,197 |  |  | 7,837 |
Total property and equipment, gross | 352,526 |  |  | 343,599 |
Less: Accumulated depreciation | (219,246) |  |  | (183,744) |
Total property and equipment, net | $ | 133,280 |  |  | $ | 159,855 |
__________________ *Satellites include $13.7 million and $13.3 million of satellites in process and not placed into service as of January 31, 2022 and 2021, respectively. Interest expense associated with manufactured satellites was not material for the fiscal years ended January 31, 2022, 2021 and 2020. The Company’s long-lived assets by geographic region are as follows:
| January 31,
(in thousands) | 2022 |  | 2021
United States | $ | 130,230 |  |  | $ | 156,537 |
Rest of the world | 3,050 |  |  | 3,318 |
Total property and equipment, net | $ | 133,280 |  |  | $ | 159,855 |
The Company concluded that satellites in service continue to be owned by the U.S. entity and accordingly are classified as U.S. assets in the table above. No single country other than the U.S. accounted for more than 10% of total property and equipment, net, as of January 31, 2022 and 2021. Total depreciation expense for the fiscal years ended January 31, 2022, 2021 and 2020 was $37.8 million, $52.7 million and $69.1 million, respectively, of which $33.0 million, $44.2 million and $58.6 million, respectively, was depreciation expense specific to satellites. Capitalized Internal-Use Software Development Costs Capitalized internal-use software costs, net of accumulated amortization consists of the following:
| January 31,
(in thousands) | 2022 |  | 2021
Capitalized internal-use software | $ | 36,453 |  |  | $ | 32,425 |
Less: Accumulated amortization | (25,685) |  |  | (20,431) |
| $ | 10,768 |  |  | $ | 11,994 |
Interest expense associated with capitalized internal-use software costs was not material for the fiscal years ended January 31, 2022, 2021 and 2020. Amortization expense for capitalized internal-use software for the fiscal years ended January 31, 2022, 2021 and 2020 was $5.3 million, $7.1 million and $5.3 million, respectively. Estimated future amortization expense of capitalized internal-use software at January 31, 2022, is as follows:
(in thousands) |
2023 | $ | 3,092 |
2024 | 2,751 |
2025 | 2,590 |
2026 | 2,202 |
2027 | 133 |
| $ | 10,768 |
Goodwill and Intangible Assets Goodwill and Intangible assets consist of the following:
| January 31, 2022 |  | January 31, 2021
(in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Foreign Currency Translation |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Foreign Currency Translation |  | Net Carrying Amount
Developed technology | $ | 16,557 |  |  | $ | (7,583) |  |  | $ | (9) |  |  | $ | 8,965 |  |  | $ | 8,070 |  |  | $ | (6,869) |  |  | $ | (9) |  |  | $ | 1,192 |
Image library | 12,028 |  |  | (10,610) |  |  | 104 |  |  | 1,522 |  |  | 11,430 |  |  | (10,203) |  |  | 104 |  |  | 1,331 |
Customer relationships | 3,951 |  |  | (2,161) |  |  | 8 |  |  | 1,798 |  |  | 3,280 |  |  | (1,615) |  |  | 9 |  |  | 1,674 |
Trade names and other | 4,551 |  |  | (2,678) |  |  | 39 |  |  | 1,912 |  |  | 3,755 |  |  | (2,318) |  |  | 39 |  |  | 1,476 |
Total intangible assets | $ | 37,087 |  |  | $ | (23,032) |  |  | $ | 142 |  |  | $ | 14,197 |  |  | $ | 26,535 |  |  | $ | (21,005) |  |  | $ | 143 |  |  | $ | 5,673 |
Goodwill | $ | 101,413 |  |  | $ | — |  |  | $ | 1,806 |  |  | $ | 103,219 |  |  | $ | 86,587 |  |  | $ | — |  |  | $ | 1,806 |  |  | $ | 88,393 |
No impairment charges were recognized related to intangible assets (including goodwill) in the fiscal years ended January 31, 2022, 2021 and 2020. Amortization expense for the fiscal years ended January 31, 2022, 2021 and 2020 was $2.0 million, $2.4 million and $3.2 million, respectively. Estimated future amortization expense of intangible assets at January 31, 2022, is as follows:
(in thousands) |
2023 | $ | 2,865 |
2024 | 2,797 |
2025 | 1,874 |
2026 | 1,425 |
2027 | 1,108 |
Thereafter | 4,128 |
| $ | 14,197 |
The change in the carrying amount of goodwill during the years ended January 31, 2022 and 2021 is as follows:
| January 31,
(in thousands) | 2022 |  | 2021
Beginning of period | $ | 88,393 |  |  | $ | 88,393 |
Acquisition | 14,826 |  |  | — |
End of period | $ | 103,219 |  |  | $ | 88,393 |
Prepaid Expenses and Other Assets Prepaid expenses and other current assets consist of the following:
| January 31,
(in thousands) | 2022 |  | 2021
Prepaid tax and withholding tax receivables | $ | 932 |  |  | $ | 1,761 |
Prepaid satellite launch services | 300 |  |  | — |
Deferred commissions | 1,375 |  |  | 1,030 |
Deposits | 846 |  |  | 667 |
Restricted cash | 309 |  |  | 375 |
Prepaid directors’ and officers’ liability insurance | 4,757 |  |  | — |
Other prepayments and receivables | 7,866 |  |  | 3,301 |
Total prepaid expenses and other current assets | $ | 16,385 |  |  | $ | 7,134 |
Other non-current assets consist of the following:
| January 31,
(in thousands) | 2022 |  | 2021
Deferred commissions | $ | 1,083 |  |  | $ | 1,697 |
Prepaid satellite launch services | 1,373 |  |  | 772 |
Other non-current assets | 258 |  |  | 515 |
Total other non-current assets | $ | 2,714 |  |  | $ | 2,984 |
Accrued and Other Current Liabilities Accrued liabilities and other current liabilities consist of the following:
| January 31,
(in thousands) | 2022 |  | 2021
Deferred R&D service liability (1) | $ | 21,878 |  |  | $ | 8,208 |
Payroll and related expenses | 6,007 |  |  | 3,229 |
Customer payable (2) | — |  |  | 10,000 |
Deferred hosting costs | 3,967 |  |  | 2,301 |
Deferred rent | 2,193 |  |  | 2,215 |
Accrued interest payable | — |  |  | 616 |
Withholding taxes and other taxes payable | 3,731 |  |  | 841 |
Other accruals | 11,047 |  |  | 2,785 |
Total accrued and other current liabilities | $ | 48,823 |  |  | $ | 30,195 |
__________________ (1)In December 2020, the Company entered into a development services agreement, whereby the Company agreed to provide the technical knowledge and services to design and develop certain prototype satellites and deliver and test early data collected (the “R&D Services Agreement”). The R&D Services Agreement is unrelated to the Company’s ordinary business activities and originally provided for a fee of $40.2 million, to be paid to the Company as specified milestones are achieved over a three year period. In November 2021, the R&D Services Agreement was amended to increase the fee to $45.2 million. The Company has discretion in managing the activities under the R&D Services Agreement and retains all developed intellectual property. The Company has no obligation to repay any of the funds received regardless of the outcome of the development work; therefore, the arrangement is accounted for as funded research and development pursuant to ASC 730-20, Research and Development. As ASC 730-20 does not indicate the accounting model for research and development services, the Company determined the total transaction price is taken over the agreement term as a reduction of research and development expenses based on a cost incurred method. During the fiscal year ended January 31, 2022, the Company recognized $4.7 million of fees and incurred $4.8 million research and development expenses in connection with the R&D Services Agreement. The activity for the fiscal year ended January 31, 2021 was immaterial. As of January 31, 2022 and 2021, the Company had received a total of $26.7 million and $8.3 million, respectively, under the R&D Services Agreement. The deferred R&D service liability was $21.9 million and $8.2 million as of January 31, 2022 and 2021, respectively. (2)Customer payable reflects consideration due to a customer as a result of a legal settlement agreement related to a revenue share arrangement. The customer payable was estimated at the inception of the contract and accounted for as a reduction in the customer’s transaction price.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
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