The following sections and tables provide details of selected balance sheet items (in thousands):

Inventories


	As of
	July 31, 2024		January 31, 2024
Finished goods	$	10,033	$	12,024
Raw materials		5,204		7,758
Total inventory	$	15,237	$	19,782

Other current and non-current assets


	As of
	July 31, 2024		January 31, 2024
Deferred sales commissions, current	$	9,060	$	8,579
Prepaid expenses and other		4,712		4,177
Convertible note receivable (see "GTC" below)		—		2,257
Other current assets		1,787		1,484
Total other current assets	$	15,559	$	16,497

Deferred sales commissions, non-current	$	15,092	$	15,257
Other assets		5,952		2,358
Total other non-current assets	$	21,044	$	17,615

Customer Acquisition Costs. Amortization of deferred sales commissions was $2.4 million and $2.2 million for the three months ended July 31, 2024 and 2023, respectively, and $4.8 million and $4.4 million for the six months ended July 31, 2024 and 2023, respectively.

Global Telecom Corporation. In December 2018, the Company invested $1.3 million in cash in GTC, a privately-held technology company, in exchange for a convertible promissory note that will convert to shares of GTC stock upon the occurrence of certain future events. As amended, the promissory note and accrued interest was due and payable upon the Company’s demand at any time after June 30, 2023. GTC was a variable interest entity for accounting purposes and the Company did not consolidate GTC into its financial statements because the Company was not the primary beneficiary. As of July 31, 2024, the Company had $0.8 million in non-cancelable inventory purchase commitments to GTC.

On March 8, 2024 ("Financing Date"), GTC completed an equity financing which qualified as a conversion event under the convertible promissory note. Per the terms of the note, in the event of an equity financing all of the outstanding principal and accrued but unpaid interest would be converted to a number of shares of standard preferred stock equal to the Conversion Amount divided by the Conversion Price. "Conversion Amount" is defined as outstanding principal plus unpaid accrued interest. "Conversion Price" is 70% of the per share price for the preferred stock. As of the Financing Date, the carrying value of the convertible promissory note of $2.3 million, including accrued interest, was converted to 8.2 million shares of preferred stock of GTC. Upon the conversion event, GTC is no longer a variable interest entity for accounting purposes. The Company recorded a gain on note conversion of $1.0 million to other income in the condensed consolidated statements of operations. The Company recorded the fair value of GTC preferred stock of $3.3 million as of July 31, 2024 to other assets in the condensed consolidated balance sheets.

Accrued expenses and other current liabilities


	As of
	July 31, 2024		January 31, 2024
Payroll and related expenses	$	10,737	$	12,301
Regulatory fees and taxes		5,475		4,598
Short-term operating lease liabilities		3,710		3,742
Customer-related liabilities		1,365		1,118
Other		3,101		4,827
Total accrued expenses and other current liabilities	$	24,388	$	26,586