Balance Sheet Components | Note 4 : Balance Sheet Components The following sections and tables provide details of selected balance sheet items (in thousands): Inventories As of October 31, 2020 January 31, 2020 Finished goods $ 8,787 $ 6,988 Raw materials 1,446 1,381 Total inventory $ 10,233 $ 8,369 Acquired intangible assets As of October 31, 2020 January 31, 2020 Customer relationships $ 5,081 $ 5,841 Developed technology 471 622 Trade names 287 355 Total intangible assets $ 5,839 $ 6,818 Amortization expense for acquired intangible assets was $0.3 million and $0.4 million for the three months ended October 31, 2020 and 2019, respectively, and $1.0 million and $0.9 million for the nine months ended October 31, 2020 and 2019, respectively. Other assets As of October 31, 2020 January 31, 2020 Prepaid expenses $ 4,337 $ 2,739 Deferred sales commissions, current 4,184 2,525 Convertible note receivable, including accrued interest 1,566 1,453 Deferred inventory costs 371 867 Other current assets 124 1,408 Total other current assets $ 10,582 $ 8,992 Deferred sales commissions, non-current $ 10,293 $ 7,412 Other non-current assets 682 774 Total other non-current assets $ 10,975 $ 8,186 Deferred Sales Commissions . Amortization expense for deferred sales commissions was $1.0 million and $0.6 million for the three months ended October 31, 2020 and 2019, respectively, and $2.7 million and $1.4 million for the nine months ended October 31, 2020 and 2019, respectively. To date, there have been no material impairment losses related to the costs capitalized . Global In December 2018, the Company invested $1.3 million in cash to Global Telecomm Corporation (“GTC”), a small privately-held technology company, in exchange for an 18-month convertible promissory note, bearing interest at 10% annually, that will convert to shares of GTC common or preferred stock upon the occurrence of certain future events. During the second quarter of fiscal 2021, the Company executed an amended agreement with GTC that extended the maturity date of the convertible promissory note by nine months from June 30, 2020 to March 31, 2021. The Company has partnered with GTC on certain research and development and inventory procurement activities. GTC is considered a variable interest entity (“VIE”) for accounting purposes. However, the Company is not required to consolidate GTC into its financial statements because the Company is not the primary beneficiary. For the periods presented, the Company’s maximum exposure to loss was equal to the carrying value of its convertible note receivable and associated interest receivable . The Company has no other variable interests in VIEs. GTC is a related party of Ooma as a result of the convertible note. As of October 31, 2020 and January 31, 2020, the Company recorded inventory prepayments to GTC of $0.7 million and $0.5 million, respectively, included in other current assets on the consolidated balance sheet. As of October 31, 2020 and January 31, 2020, the Company’s non-cancelable purchase commitments with GTC were zero and $2.2 million, respectively. Accrued expenses and other current liabilities As of October 31, 2020 January 31, 2020 Payroll and related expenses $ 8,909 $ 8,942 Regulatory fees and taxes 4,675 4,777 Short-term operating lease liabilities 3,864 3,263 Customer sales incentives 1,021 1,293 Other 2,962 4,301 Total accrued expenses $ 21,431 $ 22,576 |