Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | |||
Jan. 31, 2022 | Jan. 31, 2021 | Mar. 31, 2022 | Jul. 30, 2021 | |
Cover [Abstract] | ||||
Document Type | 10-K | |||
Amendment Flag | false | |||
Document Period End Date | Jan. 31, 2022 | |||
Document Fiscal Year Focus | 2022 | |||
Document Fiscal Period Focus | FY | |||
Trading Symbol | OOMA | |||
Entity Registrant Name | Ooma Inc | |||
Entity Central Index Key | 0001327688 | |||
Current Fiscal Year End Date | --01-31 | |||
Entity Well-known Seasoned Issuer | No | |||
Entity Current Reporting Status | Yes | |||
Entity File Number | 001-37493 | |||
Entity Tax Identification Number | 06-1713274 | |||
Entity Address, Address Line One | 525 Almanor Avenue | |||
Entity Address, Address Line Two | Suite 200 | |||
Entity Address, City or Town | Sunnyvale | |||
Entity Address, State or Province | CA | |||
Entity Address, Postal Zip Code | 94085 | |||
City Area Code | 650 | |||
Local Phone Number | 566-6600 | |||
Entity Voluntary Filers | No | |||
Entity Filer Category | Accelerated Filer | |||
Entity Small Business | false | |||
Entity Emerging Growth Company | false | |||
Entity Shell Company | false | |||
Entity Interactive Data Current | Yes | |||
Title of 12(b) Security | Common Stock, par value $0.0001 | |||
Security Exchange Name | NYSE | |||
Entity Incorporation, State or Country Code | DE | |||
Document Annual Report | true | |||
Document Transition Report | false | |||
Entity Common Stock, Shares Outstanding | 24,300,000 | |||
Entity Public Float | $ 408 | |||
ICFR Auditor Attestation Flag | true | |||
Auditor Name | KPMG LLP | DELOITTE & TOUCHE LLP | ||
Auditor Location | Santa Clara, California | San Jose, California | ||
Auditor Firm ID | 185 | 34 | ||
Documents Incorporated by Reference | DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive Proxy Statement for its 2022 Annual Meeting of Stockholders are incorporated by reference in Part III of this Annual Report on Form 10-K. Such Proxy Statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates. Except with respect to information specifically incorporated by reference in this Form 10-K, the Proxy Statement is not deemed to be filed as part of this Form 10-K. |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 19,667 | $ 17,298 |
Short-term investments | 11,613 | 11,013 |
Accounts receivable, net | 7,310 | 5,228 |
Inventories | 13,841 | 12,233 |
Other current assets | 13,598 | 10,222 |
Total current assets | 66,029 | 55,994 |
Property and equipment, net | 6,481 | 5,071 |
Operating lease right-of-use assets | 14,396 | 6,045 |
Intangible assets, net | 4,208 | 5,513 |
Goodwill | 4,264 | 4,264 |
Other assets | 13,875 | 12,210 |
Total assets | 109,253 | 89,097 |
Current liabilities: | ||
Accounts payable | 7,507 | 7,499 |
Accrued expenses and other current liabilities | 22,823 | 22,731 |
Deferred revenue | 16,600 | 16,426 |
Total current liabilities | 46,930 | 46,656 |
Long-term operating lease liabilities | 11,194 | 2,815 |
Other long-term liabilities | 73 | 75 |
Total liabilities | 58,197 | 49,546 |
Commitments and contingencies (Note 11) | ||
Stockholders’ equity: | ||
Preferred stock $0.0001 par value: 10 million shares authorized; none issued and outstanding | ||
Common stock $0.0001 par value: 100 million shares authorized; 23.9 million and 22.9 million shares issued and outstanding, respectively | 4 | 4 |
Additional paid-in capital | 179,860 | 166,577 |
Accumulated other comprehensive (loss) income | (20) | 7 |
Accumulated deficit | (128,788) | (127,037) |
Total stockholders’ equity | 51,056 | 39,551 |
Total liabilities and stockholders’ equity | $ 109,253 | $ 89,097 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Jan. 31, 2022 | Jan. 31, 2021 |
Statement Of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 23,900,000 | 22,900,000 |
Common stock, shares outstanding | 23,900,000 | 22,900,000 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Revenue: | |||
Total revenue | $ 192,290 | $ 168,947 | $ 151,593 |
Cost of revenue: | |||
Total cost of revenue | 73,852 | 64,143 | 62,212 |
Gross profit | 118,438 | 104,804 | 89,381 |
Operating expenses: | |||
Sales and marketing | 58,631 | 50,919 | 50,497 |
Research and development | 38,193 | 36,079 | 37,770 |
General and administrative | 23,544 | 20,581 | 20,825 |
Total operating expenses | 120,368 | 107,579 | 109,092 |
Loss from operations | (1,930) | (2,775) | (19,711) |
Interest and other income, net | 179 | 419 | 780 |
Loss before income taxes | (1,751) | (2,356) | (18,931) |
Income tax (provision) benefit | (85) | 130 | |
Net loss | $ (1,751) | $ (2,441) | $ (18,801) |
Net loss per share of common stock: | |||
Basic and diluted | $ (0.07) | $ (0.11) | $ (0.89) |
Weighted-average shares of common stock outstanding: | |||
Basic and diluted | 23,473,849 | 22,361,312 | 21,051,039 |
Subscription and services | |||
Revenue: | |||
Total revenue | $ 175,942 | $ 156,873 | $ 139,499 |
Cost of revenue: | |||
Total cost of revenue | 49,563 | 46,134 | 43,748 |
Product and other | |||
Revenue: | |||
Total revenue | 16,348 | 12,074 | 12,094 |
Cost of revenue: | |||
Total cost of revenue | $ 24,289 | $ 18,009 | $ 18,464 |
CONSOLIDATED STATEMENTS OF STOC
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Cumulative Effect, Period of Adoption, Adjustment | Common Stock and Additional Paid-In Capital | Accumulated Other Comprehensive Income (Loss) | Accumulated Deficit | Accumulated DeficitCumulative Effect, Period of Adoption, Adjustment |
BALANCE at Jan. 31, 2019 | $ 33,047 | $ 138,852 | $ (10) | $ (105,795) | ||
BALANCE, Shares at Jan. 31, 2019 | 20,312,102 | |||||
Issuance of common stock under equity-based plans | 2,951 | $ 2,951 | ||||
Issuance of common stock under equity based plans, Shares | 1,515,111 | |||||
Shares repurchased for tax withholdings on vesting of RSUs | (1,523) | $ (1,523) | ||||
Shares repurchased for tax withholdings on vesting of RSUs, Shares | (111,085) | |||||
Stock-based compensation | 12,717 | $ 12,717 | ||||
Other comprehensive income (loss) | 24 | 24 | ||||
Net loss | (18,801) | (18,801) | ||||
Accounting Standards Update [Extensible List] | us-gaap:AccountingStandardsUpdate201409Member | us-gaap:AccountingStandardsUpdate201409Member | ||||
BALANCE at Jan. 31, 2020 | 28,415 | $ 152,997 | 14 | (124,596) | ||
BALANCE, Shares at Jan. 31, 2020 | 21,716,128 | |||||
Issuance of common stock under equity-based plans | 2,950 | $ 2,950 | ||||
Issuance of common stock under equity based plans, Shares | 1,279,820 | |||||
Shares repurchased for tax withholdings on vesting of RSUs | (1,641) | $ (1,641) | ||||
Shares repurchased for tax withholdings on vesting of RSUs, Shares | (122,928) | |||||
Stock-based compensation | 12,275 | $ 12,275 | ||||
Other comprehensive income (loss) | (7) | (7) | ||||
Net loss | (2,441) | (2,441) | ||||
BALANCE at Jan. 31, 2021 | 39,551 | $ 166,581 | 7 | (127,037) | ||
BALANCE, Shares at Jan. 31, 2021 | 22,873,020 | |||||
Issuance of common stock under equity-based plans | 2,706 | $ 2,706 | ||||
Issuance of common stock under equity based plans, Shares | 1,168,245 | |||||
Shares repurchased for tax withholdings on vesting of RSUs | (2,105) | $ (2,105) | ||||
Shares repurchased for tax withholdings on vesting of RSUs, Shares | (105,072) | |||||
Stock-based compensation | 12,682 | $ 12,682 | ||||
Other comprehensive income (loss) | (27) | (27) | ||||
Net loss | (1,751) | (1,751) | ||||
BALANCE at Jan. 31, 2022 | $ 51,056 | $ 179,864 | $ (20) | $ (128,788) | ||
BALANCE, Shares at Jan. 31, 2022 | 23,936,193 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Cash flows from operating activities: | |||
Net loss | $ (1,751) | $ (2,441) | $ (18,801) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
Stock-based compensation expense | 12,682 | 12,275 | 12,761 |
Depreciation and amortization of capital expenditures | 3,117 | 2,877 | 2,548 |
Amortization of intangible assets and acquisition-related items | 1,304 | 1,304 | 1,027 |
Amortization of operating lease right-of-use assets | 2,939 | 3,198 | 1,997 |
Non-cash restructuring charges | 1,603 | ||
Deferred income taxes | (144) | ||
Other | 53 | 46 | (147) |
Changes in operating assets and liabilities: | |||
Accounts receivable, net | (2,082) | (637) | 135 |
Inventories and deferred inventory costs | (1,571) | (3,378) | 407 |
Prepaid expenses and other assets | (4,609) | (5,496) | (4,965) |
Accounts payable, accrued expenses and other liabilities | (3,599) | (3,911) | (4,089) |
Deferred revenue | 172 | 530 | 104 |
Net cash provided by (used in) operating activities | 6,655 | 4,367 | (7,564) |
Cash flows from investing activities: | |||
Proceeds from maturities of short-term investments | 16,505 | 22,866 | 38,522 |
Proceeds from sales of short-term investments | 300 | 600 | 5,924 |
Purchases of short-term investments | (17,488) | (20,077) | (31,234) |
Capital expenditures | (4,204) | (3,160) | (3,273) |
Business acquisition, net of cash assumed | (7,073) | ||
Net cash (used in) provided by investing activities | (4,887) | 229 | 2,866 |
Cash flows from financing activities: | |||
Proceeds from issuance of common stock | 2,706 | 2,905 | 2,951 |
Payment of credit facility issuance costs | (242) | ||
Payment of acquisition-related costs | (420) | ||
Net cash provided by financing activities | 601 | 1,022 | 1,008 |
Net increase (decrease) in cash and cash equivalents | 2,369 | 5,618 | (3,690) |
Cash and cash equivalents at beginning of period | 17,298 | 11,680 | 15,370 |
Cash and cash equivalents at end of period | 19,667 | 17,298 | 11,680 |
Non-cash investing and financing activities: | |||
Capital expenditures included in accounts payable at period-end | 324 | 1 | 413 |
Restricted Stock Units (RSUs) | |||
Cash flows from financing activities: | |||
Shares repurchased for tax withholdings on vesting of RSUs | $ (2,105) | $ (1,641) | $ (1,523) |
Overview and Basis of Presentat
Overview and Basis of Presentation | 12 Months Ended |
Jan. 31, 2022 | |
Accounting Policies [Abstract] | |
Overview and Basis of Presentation | Note 1: Overview and Basis of Presentation Ooma, Inc. and its wholly-owned subsidiaries (collectively, “Ooma” or the “Company”) provides leading communications services and related technologies for businesses and consumers, delivered from its smart cloud-based SaaS and unified communications platforms. The Company is headquartered in Sunnyvale, California. Principles of Presentation and Consolidation. The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. In the opinion of the Company’s management, the consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. Fiscal Year. The Company’s fiscal year ends on January 31. References to fiscal 2022, fiscal 2021 and fiscal 2020 refer to the fiscal years ended January 31, 2022, January 31, 2021 and January 31, 2020, respectively. Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the Company’s consolidated financial statements and accompanying notes. Significant estimates include, but are not limited to, those related to revenue recognition, inventory valuation, deferred sales commissions, valuation of goodwill and intangible assets, operating lease assets and liabilities, regulatory fees and indirect tax accruals, loss contingencies, stock-based compensation and income taxes (including valuation allowances). The Company bases its estimates and assumptions on historical experience, where applicable, and other factors that it believes to be reasonable under the circumstances. These estimates are based on information available as of the date of the consolidated financial statements, and assumptions are inherently subjective in nature. Therefore, actual results could differ from management’s estimates. Comprehensive Loss. For all periods presented, comprehensive loss approximated net loss in the consolidated statements of operations and differences were not material. Therefore, the Consolidated Statements of Comprehensive Loss have been omitted. Segment Reporting. The chief operating decision maker for the Company is the chief executive officer, who reviews the Company’s financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. Accordingly, management has determined that the Company operates in a single Revenue was principally derived from customers located in the United States for all periods presented, with a small portion attributable to customers loca ted in Canada and other countries. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Jan. 31, 2022 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Note 2: Significant Accounting Policies Revenue Recognition The Company derives its revenue from two sources: (1) subscription and services revenue, which is derived primarily from the sale of subscription plans for communications services and other connected services; and (2) product and other revenue. Subscriptions and services are sold directly to end-customers. Products are sold to end-customers through several channels, including but not limited to distributors, retailers and resellers (collectively “channel partners”), and Ooma sales representatives. The Company determines revenue recognition through the following steps: • identification of the contract(s) with a customer; • identification of the performance obligations in the contract; • determination of the transaction price; • allocation of the transaction price to the performance obligations in the contract; and • recognition of revenue when, or as, the Company satisfies a performance obligation Subscription and Services Revenue. Most of the Company’s revenue is derived from recurring subscription fees related to service plans such as Ooma Business, Ooma Residential and other communications services. Service plans are generally sold as monthly subscriptions; however, certain plans are also offered as annual or multi-year subscriptions. Subscription revenue is generally recognized ratably over the contractual service term. A small portion of total revenue is recognized on a point-in-time basis from services such as: prepaid international calls, directory assistance, and advertisements displayed through its Talkatone mobile application. Product and Other Revenue. Product and other revenue is generated primarily from the sale of on-premise devices and end-point devices, and to a lesser extent from porting fees that enable customers to transfer their existing phone numbers. The Company recognizes product and other revenue from sales to direct end-customers and channel partners at the point-in-time that control transfers, which is typically when it delivers the product. The Company’s distribution agreements with channel partners typically contain clauses for price protection and right of return. Credits and/or rebates issued for expected product returns and customer sales incentives are deemed to be variable consideration, which the Company estimates and records as a reduction to revenue at the point of sale. Product returns and sales incentives are estimated based on the Company’s historical experience, current trends and expectations regarding future experience. As of January 31, 2022 and 2021, total reserves for product returns and sales incentives were approximately $1.2 million and $1.1 million, respectively. Revenue is recorded net of any sales and telecommunications taxes collected from customers to be remitted to government authorities. Amounts billed to customers related to shipping and handling are classified as product and other revenue. Shipping and handling costs are expensed as incurred and classified as cost of revenue. Multiple performance obligations. The Company’s contracts with customers typically contain multiple performance obligations that consist of communications services and related product(s). For these contracts, individual performance obligations are accounted for separately if they are distinct. The contract transaction price is then allocated to the separate performance obligations on a relative stand-alone selling price basis. The Company determines the SSP for its communications services based on observable historical stand-alone sales to customers, for which a substantial majority of selling prices must fall within a reasonably narrow pricing range. The Company determines the SSP for its on-premise devices and end-point devices based upon management’s best estimates and judgments, considering company-specific factors such as pricing strategies, discounting practices, and estimated product and other costs. Cash Equivalents and Short-term Investments. All highly liquid investments with an original maturity of three months or less at the date of purchase are classified as cash equivalents. Short-term investments are classified as available-for-sale and carried at fair value, with unrealized gains and losses, net of tax, recorded as a separate component of stockholders’ equity within accumulated other comprehensive (loss) income. The cost of securities sold is based upon the specific identification method. Fair Value of Financial Instruments. The Company records its financial assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the reporting date. The Company estimates and categorizes the fair value of its financial assets by applying the following hierarchy: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2: Observable prices based on inputs not quoted in active markets but are corroborated by market data. Level 3: Unobservable inputs that are supported by little or no market activity The carrying value of the Company’s financial instruments, including cash equivalents, accounts receivable, inventory, accounts payable and other current assets and current liabilities approximates fair value due to their short maturities. Concentrations. Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, short-term investments, accounts receivable and convertible note receivable (Note 5). The Company’s cash, cash equivalents and short-term investments are held by financial institutions that management believes are of high-credit quality although the balances, at times, may exceed federally insured limits. The Company performs credit evaluations of its customers’ financial condition and generally does not require collateral for sales made on credit. Customers who represented 10% or more of net accounts receivable were as follows: As of January 31, 2022 January 31, 2021 Customer A 19% * Customer B 11% * Customer C * 10% *As of January 31, 2022 and 2021, these customers accounted for less than 10% of net accounts receivable. Accounts Receivable. Accounts receivable are recorded net of an allowance for doubtful accounts for estimated credit losses. Allowances are recorded based upon assessment of several factors, including historical experience, aging of receivable balances and economic conditions. As of January 31, 2022 and 2021, the allowance for doubtful accounts was $0.3 million. Bad debt expense recorded in the consolidated statement of operations was not material for the periods presented. Inventories. Inventories, which consist of raw materials and finished goods, include the cost to purchase manufactured products, allocated labor and overhead. Inventories are stated at the lower of actual cost and net realizable value on a first-in, first-out basis. The Company writes down the carrying value of inventory to net realizable value for estimated excess and obsolete inventory based upon assumptions about forecast demand and market conditions. Inventory carrying value adjustments are recognized as a component of cost of product and other revenue in the consolidated statement of operations. Customer Acquisition Costs. Sales commissions and other costs paid to internal sales personnel, third-party sales entities and value-added resellers are considered incremental and recoverable costs of obtaining customer contracts. The resellers are selling agents for the Company and earn sales commissions that are directly tied to the value of the contracts that the Company enters with the end-user customers. These costs are capitalized and amortized on a systematic basis over the expected period of benefit of five years, or customer contractual term for multi-year contracts. The Company has determined the period of benefit taking into consideration both qualitative and quantitative factors, such as expected subscription term and expected renewal periods of its customer contracts, product life cycles and customer attrition. Amortization expense is recorded in sales and marketing expenses in the consolidated statement of operations. The Company pays sales commissions on initial contracts, contracts for increased purchases with existing customers (expansion contracts) and certain contract renewals. The Company periodically evaluates whether there have been any changes in its business, the market conditions in which it operates or other events which would indicate that its amortization period should be changed or if there are potential indicators of impairment. To date, there have been no material impairment losses related to the costs capitalized. Internal-Use Website Development Costs. The Company capitalizes certain costs to develop its customer-facing websites when preliminary development efforts are successfully completed, management has authorized and committed project funding, and it is probable that the project will be completed and the software will be used as intended. Such costs primarily include payroll-related costs for engineers and contractors directly associated with the development project. Capitalized website development costs are included in property and equipment and are amortized on a straight-line basis over an estimated useful life of two years. Costs related to preliminary project activities and post-implementation activities are expensed as incurred. Property and Equipment, net. Property and equipment, net is stated at cost, less accumulated depreciation and amortization. Depreciation and amortization is computed on a straight-line basis over the estimated useful lives of those assets, generally two to five years. Leasehold improvements are amortized over the shorter of the lease term or estimated useful lives of the respective assets. Repairs and maintenance costs that do not extend the life or improve the asset are expensed as incurred. Operating Leases. The Company determines if an arrangement is a lease at inception. The Company’s leases primarily consist of office and data center space and are classified as operating leases. The Company does not have any finance leases nor material arrangements as a lessor. Right-of-use lease assets and lease liabilities are recognized at the lease commencement date based upon the present value of the remaining lease payments over the lease term. The Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Lease expense for lease payments is recognized on a straight-line basis over the term of the lease. The accounting lease term may include options to renew or extend when it is reasonably certain that the option will be exercised. Lease agreements that contain both lease and non-lease components are accounted for as a single component. Short-term leases with an initial term of twelve months or less are not recorded on the balance sheet. Goodwill. Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in a business combination. The Company evaluates goodwill for impairment annually in the fourth quarter of its fiscal year, or more frequently if indicators of potential impairment arise. The Company has a single reporting unit and consequently evaluates goodwill for impairment based on an evaluation of the fair value of the Company as a whole. No impairment has been recognized for any of the periods presented. Intangible Assets. Acquired intangible assets other than goodwill, which primarily consist of customer relationships, are amortized over their useful lives unless the lives are determined to be indefinite. For intangible assets acquired in a business combination, the estimated fair values of the assets received are used to establish their recorded values. Valuation techniques consistent with the market approach, income approach and/or cost approach are used to measure fair value. Impairment of Long-Lived Assets. Long-lived assets, such as property and equipment, capitalized website development costs, and intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. The Company did not record any material impairment charges for fiscal 2022 or fiscal 2021. During fiscal 2020, the Company recorded impairment charges of $0.7 million to cost of product revenue for abandoned developed technology and trade names associated with the Ooma Smart Cam, which was acquired through the fiscal 2018 acquisition of Butterfleye, Inc. and discontinued in October 2019. Research and Development. Research and development costs are charged to operating expenses as incurred in the consolidated statements of operations, except for internal-use website development costs that qualify for capitalization, as per above. Research and development expenses consist primarily of personnel-related costs for employees and contractors, including stock-based compensation, as well as license and product certification fees and allocated overhead costs. Advertising. Advertising costs are included in sales and marketing and expensed as incurred, except for production costs associated with television and radio advertising, which are expensed on the first date of airing. Advertising costs were $14.5 million, $12.2 million and $13.6 million for fiscal 2022, 2021 and 2020, respectively. Advertising payments to the Company’s channel partners recorded as a reduction in revenue totaled $0.3 million, $0.3 million and $0.4 million for fiscal 2022, 2021 and 2020, respectively. Stock-Based Compensation. Stock-based compensation expense for all stock-based awards granted to employees and non-employee directors are measured at the grant date fair value of the equity award. The fair value of options granted and purchase rights under the Company’s ESPP are estimated on the date of grant using the Black-Scholes pricing model. The fair value of each RSU granted is determined using the closing market price of the Company’s common stock on the date of grant. Compensation expense is recognized using the straight-line method over the requisite service period, which is generally the vesting period. Forfeitures are recorded in the period in which they occur. Income Taxes. Income taxes are recorded using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income (loss) in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. A tax position is recognized when it is more-likely-than-not that the tax position will be sustained upon examination, including resolution of any related appeals or litigation processes. A tax position that meets the more likely than not recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement with a taxing authority. Interest and penalties associated with unrecognized tax benefits are classified as income tax expense. The Company had no interest or penalty accruals associated with uncertain tax benefits in its consolidated balance sheets and statements of operations for any periods presented. Foreign currency. The U.S. dollar is the functional currency of the Company's foreign subsidiaries. Remeasurement and transaction gains and losses are included in interest and other income, net and were not material for any periods presented. Adopted Accounting Standards Financial Instruments-Credit Losses. On February 1, 2021, the Company adopted Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740) : Simplifying the Accounting for Income Taxes , which simplified certain aspects of the accounting for income taxes as well as clarified and amended existing guidance to improve consistent application. Adoption did not have a material impact on the Company’s consolidated financial statements and related disclosures. |
Revenue and Deferred Revenue
Revenue and Deferred Revenue | 12 Months Ended |
Jan. 31, 2022 | |
Revenue From Contract With Customer [Abstract] | |
Revenue and Deferred Revenue | Note 3: Revenue and Deferred Revenue Disaggregated revenue Revenue disaggregated by revenue source consisted of the following (in thousands): Fiscal Year Ended January 31, 2022 2021 2020 Subscription and services revenue $ 175,942 $ 156,873 $ 139,499 Product and other revenue 16,348 12,074 12,094 Total revenue $ 192,290 $ 168,947 $ 151,593 The Company derived approximately 49%, 44% and 39% of its total revenue from Ooma Business and approximately 49%, 54% and 58% of its total revenue from Ooma Residential and in fiscal 2022, 2021 and 2020, respectively. No individual country outside of the United States represented 10% or more of total revenue for the periods presented. No single customer accounted for 10% or more of total revenue for the periods presented. Deferred revenue primarily consists of billings or payments received in advance of meeting revenue recognition criteria. Deferred services revenue is recognized on a ratable basis over the term of the contract as the services are provided. As of January 31, 2022 January 31, 2021 Subscription and services $ 16,614 $ 16,433 Product and other 59 68 Total deferred revenue $ 16,673 16,501 Less: current deferred revenue 16,600 16,426 Non-current deferred revenue included in other long-term liabilities $ 73 $ 75 During fiscal 2022, the Company recognized revenue of approximately $16.4 million pertaining to amounts deferred as of January 31, 2021. As of January 31, 2022, the Company’s deferred revenue balance was primarily composed of subscription contracts that were invoiced during fiscal 2022. Remaining performance obligations . As of January 31, 2022, contract revenue that had not yet been recognized for open contracts with an original expected length of greater than one year was approximately $9.1 million. The Company expects to recognize revenue on approximately 53% of this amount over the next 12 months, with the balance to be recognized thereafter. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Jan. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Not e 4: Fair Value Measurements Financial assets measured at fair value on a recurring basis by level were as follows (in thousands): Balance as of January 31, 2022 Level 1 Level 2 Total Cash and cash equivalents: Money market funds $ 2,275 $ — $ 2,275 Total cash equivalents $ 2,275 $ — $ 2,275 Cash 17,392 Total cash and cash equivalents $ 19,667 Short-term investments: U.S. treasury securities $ 7,065 $ — $ 7,065 Commercial paper — 4,548 4,548 Total short-term investments $ 7,065 $ 4,548 $ 11,613 Balance as of January 31, 2021 Level 1 Level 2 Total Cash and cash equivalents: Money market funds $ 1,657 $ — $ 1,657 U.S. agency securities — 1,000 1,000 U.S. treasury securities 250 — 250 Total cash equivalents $ 1,907 $ 1,000 $ 2,907 Cash 14,391 Total cash and cash equivalents $ 17,298 Short-term investments: U.S. treasury securities $ 9,782 $ — $ 9,782 Corporate debt securities — 929 929 Asset-backed securities — 302 302 Total short-term investments $ 9,782 $ 1,231 $ 11,013 The Company classifies its cash equivalents and short-term investments within Level 1 or Level 2 because it uses quoted market prices or alternative pricing sources and models utilizing market observable inputs to determine their fair value. The Company has no Level 3 assets or liabilities. For the periods presented, the amortized cost of cash equivalents and marketable securities approximated their fair value and there were no material realized or unrealized gains or losses, either individually or in the aggregate. Contractual maturities of short-term investments were as follows (in thousands): As of January 31, 2022 January 31, 2021 Due in one year or less $ 10,377 $ 11,013 Due after one year to two years 1,236 — Total $ 11,613 $ 11,013 |
Balance Sheet Components
Balance Sheet Components | 12 Months Ended |
Jan. 31, 2022 | |
Balance Sheet Components [Abstract] | |
Balance Sheet Components | Note 5 : Balance Sheet Components The following sections and tables provide details of selected balance sheet items (in thousands): Inventories As of January 31, 2022 January 31, 2021 Finished goods $ 10,452 $ 11,057 Raw materials 3,389 1,176 Total inventory $ 13,841 $ 12,233 Property and equipment, net As of Estimated life (in years) January 31, 2022 January 31, 2021 Computer hardware and software 3-4 $ 6,996 $ 6,944 Network and engineering equipment 3-5 4,979 4,164 Website development costs 2 4,816 3,191 Customer premise equipment 3 3,965 2,041 Leasehold improvements 1-5 447 418 Office furniture and fixtures 5 124 124 Total property and equipment 21,327 16,882 Less: accumulated depreciation and amortization (14,846 ) (11,811 ) Property and equipment, net $ 6,481 $ 5,071 Depreciation and amortization of property and equipment totaled $3.1 million, $2.9 million and $2.5 million in fiscal 2022, 2021 and 2020, respectively. Other current and non-current assets As of January 31, 2022 January 31, 2021 Deferred sales commissions, current $ 6,395 $ 4,689 Prepaid expenses 4,239 3,152 Convertible note receivable (see "GTC" below) 1,773 1,605 Deferred inventory costs 344 381 Other current assets 847 395 Total other current assets $ 13,598 $ 10,222 Deferred sales commissions, non-current $ 13,228 $ 11,474 Other non-current assets 647 736 Total other non-current assets $ 13,875 $ 12,210 Customer Acquisition Costs. Amortization expense for total deferred sales commissions was $6.0 million, $3.9 million and $2.2 million for fiscal 2022, 2021 and 2020, respectively. Global Telecom Corporation (“GTC”). 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 is due and payable upon the Company’s demand at any time after June 30, 2022. The Company has also partnered with GTC on certain inventory procurement and research and development activities. GTC is a variable interest entity for accounting purposes and the Company does not consolidate GTC into its financial statements because the Company is not the primary beneficiary. The Company’s maximum exposure to loss is equal to the carrying value of the convertible note receivable, including accrued interest. During fiscal 2022, the Company made total payments to GTC of approximately $2.7 million for inventory purchases and related shipping costs. As of January 31, 2022 and 2021, the Company’s non-cancelable inventory purchase commitments to GTC were immaterial. Accrued expenses and other current liabilities As of January 31, 2022 January 31, 2021 Payroll and related expenses $ 10,853 $ 11,062 Regulatory fees and taxes 3,933 4,141 Short-term operating lease liabilities 3,260 3,831 Customer-related liabilities 1,587 1,262 Other 3,190 2,435 Total accrued expenses and other current liabilities $ 22,823 $ 22,731 |
Acquired Intangible Assets
Acquired Intangible Assets | 12 Months Ended |
Jan. 31, 2022 | |
Intangible Assets Net Excluding Goodwill [Abstract] | |
Acquired Intangible Assets | Note 6: Acquired Intangible Assets The gross value, accumulated amortization and carrying values of intangible assets were as follows (in thousands): As of January 31, 2022 As of January 31, 2021 Estimated life (in years) Gross Value Accumulated Amortization Carrying Value Gross Value Accumulated Amortization Carrying Value Customer relationships 5-7 $ 6,735 $ (2,921 ) $ 3,814 $ 6,735 $ (1,908 ) $ 4,827 Developed technology 5 1,809 (1,584 ) 225 1,809 (1,385 ) 424 Trade names 5 564 (395 ) 169 564 (302 ) 262 Total intangible assets $ 9,108 $ (4,900 ) $ 4,208 $ 9,108 $ (3,595 ) $ 5,513 Amortization expense was $1.3 million, $1.3 million and $1.2 million in fiscal 2022, 2021 and 2020, respectively. At January 31, 2022, the estimated future amortization expense for intangible assets is as follows (in thousands): Fiscal Years Ending January 31, Total 2023 $ 1,304 2024 941 2025 852 2026 833 2027 278 Total $ 4,208 |
Operating Leases
Operating Leases | 12 Months Ended |
Jan. 31, 2022 | |
Leases [Abstract] | |
Operating Leases | Note 7: Operating Leases The Company leases its headquarters located in Sunnyvale, California, as well as office and data center space in several locations under non-cancelable operating lease agreements, with expiration dates through fiscal 2030. The lease agreements often include escalating rent payments, renewal provisions and other provisions which require the Company to pay common area maintenance costs, property taxes and insurance. The lease agreements do not contain any material residual value guarantees or material restrictive covenants. Operating lease right-of-use assets and long-term operating lease liabilities are included on the face of the consolidated balance sheet. Short-term operating lease liabilities are presented within accrued expenses and other current liabilities. Supplemental balance sheet information related to leases was as follows (in thousands): As of January 31, 2022 January 31, 2021 Assets Operating lease right-of-use assets $ 14,396 $ 6,045 Total leased assets $ 14,396 $ 6,045 Liabilities Short-term operating lease liabilities $ 3,260 $ 3,831 Long-term operating lease liabilities 11,194 2,815 Total lease liabilities $ 14,454 $ 6,646 Weighted-average remaining lease term 5.8 years 2.2 years Weighted-average discount rate 3.7 % 4.6 % The components of lease expense were as follows (in thousands): Fiscal Year Ended January 31, 2022 2021 2020 Operating lease costs (1) $ 3,861 $ 3,947 $ 2,796 Variable lease costs (2) 972 948 1,062 Total lease cost $ 4,833 $ 4,895 $ 3,858 (1) Recognized on a straight-line basis over the lease term. Includes rent for leases with initial terms of twelve months or less, which were not material. (2) Primarily included common area maintenance, utilities and property taxes and insurance, which were expensed as incurred. Effective May 2021, the Company extended the sublease term for its corporate headquarters in Sunnyvale, California from an end date of January 31, 2022 to March 15, 2029. The total undiscounted rental payments associated with the sublease extension are approximately $11.1 million from February 2022 onwards. The Company is also required to continue paying common area maintenance costs, property taxes and insurance. This sublease extension is a lease modification that qualifies as a change of accounting for the original sublease and not a separate contract. Accordingly, in the second quarter of fiscal 2022, the Company remeasured its operating lease liability using the present value of the revised rental payments and recognized the difference of $9.5 million between the new lease liability and the old lease liability as an increase to the operating lease right-of-use asset. Supplemental cash flow information related to leases was as follows (in thousands): Fiscal Year Ended January 31, 2022 2021 2020 Cash payments for operating leases $ 3,945 $ 3,343 $ 2,148 Right-of-use assets recognized in exchange for new operating lease obligations $ 11,289 $ 1,196 $ 5,856 As of January 31, 2022, maturities of operating lease liabilities were as follows (in thousands): Fiscal Years Ending January 31, January 31, 2022 2023 $ 3,188 2024 3,175 2025 2,840 2026 1,662 2027 1,684 Thereafter 3,555 Total future minimum lease payments 16,104 Less: imputed interest (1,650 ) Present value of lease liabilities $ 14,454 |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Jan. 31, 2022 | |
Equity [Abstract] | |
Stockholders' Equity | Note 8 : Stockholders’ Equity Common Stock Reserved for Future Issuance The Company had shares of common stock reserved for issuance as follows (in thousands): As of January 31, 2022 January 31, 2021 Restricted stock units outstanding 1,312 1,441 Options to purchase common stock 1,325 1,366 Shares available for future issuance under stock plans 2,354 1,887 Shares reserved under ESPP 1,370 1,131 Total shares reserved for issuance 6,361 5,825 Stock Options. Under the Company's 2015 Equity Incentive Plan, or the 2015 Plan, options to purchase shares of common stock may be granted to employees, non-employee directors and consultants. These options vest from the date of grant to up to four years and expire ten years Stock option activity for fiscal 2022 was as follows : Weighted-Average Aggregate Shares Exercise Price Intrinsic Value (in thousands) Per Share (in thousands) Balance as of January 31, 2021 1,366 $ 7.95 $ 7,803 Granted 120 $ 16.28 Exercised (125 ) $ 3.81 Canceled (36 ) $ 13.79 Balance as of January 31, 2022 1,325 $ 8.93 $ 12,064 Vested and exercisable as of January 31, 2022 1,152 $ 8.18 $ 11,363 The aggregate intrinsic value of vested options exercised during fiscal 2022, 2021 and 2020 was $1.9 million, $1.4 million and $2.2 million, respectively. The weighted-average grant date fair value of options granted during fiscal 2022, 2021 and 2020 was $7.89, $4.72 and $7.13, respectively. Restricted Stock Units. Under the 2015 Plan, RSUs may be granted to employees, non-employee directors and consultants. These RSUs vest ratably over a period ranging from one to four years, and are subject to the participant’s continuing service to the Company over that period. Until vested, RSUs do not have the voting and dividend participation rights of common stock and the shares underlying the awards are not considered issued and outstanding. RSU activity for fiscal 2022 was as follows: Shares (in thousands) Weighted-Average Grant-Date Fair Value Per Share Balance as of January 31, 2021 1,441 $ 12.54 Granted 919 $ 17.04 Vested (824 ) $ 13.19 Canceled (224 ) $ 13.93 Balance as of January 31, 2022 1,312 $ 15.05 Vested RSUs included shares of common stock that the Company withheld on behalf of certain employees to satisfy the minimum statutory tax withholding requirements, as defined by the Company. The Company withheld an aggregate amount of $2.1 million, $1.6 million and $1.5 million in fiscal 2022, 2021 and 2020, respectively, which were classified as financing cash outflows in the consolidated statements of cash flows. The Company canceled and returned these shares to the 2015 Plan, which are available under the plan terms for future issuance. Employee Stock Purchase Plan The ESPP allows eligible employees to purchase shares of common stock at a discount through payroll deductions of up to 15% of their eligible compensation, subject to plan limitations. The ESPP provides for a 24-month offering period comprised of four purchase periods of approximately six months. Employees are able to purchase shares at 85% of the lower of the fair market value of the Company’s common stock as of the first date or the ending date of each six-month offering period. The offering periods are scheduled to start on the first trading day on or after March 15 and September 15 of each year. During each of the fiscal years 2022, 2021 and 2020, employees purchased 0.2 million shares at a weighted-average purchase price of $10.22, $9.98 and $9.97 per share, respectively. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Jan. 31, 2022 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock-Based Compensation | Note 9: Stock-Based Compensation Total stock-based compensation recognized for stock-based awards in the consolidated statements of operations was as follows (in thousands): Fiscal Year Ended January 31, 2022 2021 2020 Cost of revenue $ 979 $ 1,015 $ 1,262 Sales and marketing 1,856 1,910 1,929 Research and development 4,216 4,267 4,610 General and administrative 5,631 5,083 4,960 Total stock-based compensation expense $ 12,682 $ 12,275 $ 12,761 The income tax benefit related to stock-based compensation expense was zero for all periods presented due to a full valuation allowance on the Company's deferred tax assets (see Note 10: Income Taxes below). As of January 31, 2022, there was $19.0 million of unrecognized stock-based compensation expense related to unvested RSUs, stock options and ESPP that will be recognized on a straight-line basis over the remaining weighted-average vesting period of approximately 2.5 years The fair value of employee stock options and ESPP was estimated using the Black–Scholes model with the following assumptions: Fiscal Year Ended January 31, 2022 2021 2020 Stock Options: Expected volatility 51% 47% 44% Expected term (in years) 6.1 6.1 6.1 Risk-free interest rate 0.9% 0.6% 2.5% Dividend yield NA NA NA Fiscal Year Ended January 31, 2022 2021 2020 ESPP: Expected volatility 41%-58% 46%-83% 40%-51% Expected term (in years) 0.5-2.0 0.5-2.0 0.5-2.0 Risk-free interest rate 0.1%-0.2% 0.1%-0.4% 1.7%-2.5% Dividend yield NA NA NA The expected term of options granted to employees is based on the simplified method as the Company does not have sufficient historical exercise data, and the expected term of the ESPP is based on the contractual term. For fiscal 2022, expected volatility is derived from the average historical volatility of the Company’s own common stock. In prior fiscal years, expected volatility was derived from a combination of the average historical volatility of the Company’s own common stock and a group of comparable publicly traded companies. The risk-free interest rate is based on the yields of U.S. Treasury securities with maturities similar to the expected term. |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 10: Income Taxes Loss before income taxes consisted of the following components (in thousands): Fiscal Year Ended January 31, 2022 2021 2020 United States $ 1,340 $ (120 ) $ (17,051 ) Foreign (3,091 ) (2,236 ) (1,880 ) Loss before income taxes $ (1,751 ) $ (2,356 ) $ (18,931 ) Income tax provision (benefit) differed from the amount computed by applying the U.S. federal income tax rate to pre-tax loss as a result of the following (dollars in thousands): Fiscal Year Ended January 31, 2022 Rate 2021 Rate 2020 Rate Federal tax at statutory rate $ (368 ) 21 % $ (495 ) 21 % $ (3,975 ) 21 % State taxes, net of federal benefit 52 (3 )% 75 (3 )% 12 — Foreign income and withholding taxes (185 ) 11 % (87 ) 3 % (98 ) 1 % Permanent tax adjustment 58 (3 )% 163 (7 )% 114 (1 )% Section 162(m) 1,050 (60 )% 598 (25 )% 606 (3 )% Stock-based compensation (1,545 ) 88 % (251 ) 11 % (624 ) 3 % Change in valuation allowance 2,959 (169 )% 185 (8 )% 5,445 (29 )% Research and development credit (1,980 ) 113 % (243 ) 10 % (1,279 ) 7 % Other (41 ) 2 % 140 (6 )% (331 ) 2 % Income tax provision (benefit) at effective tax rate $ — (0 )% $ 85 (4 )% $ (130 ) 1 % The tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and liabilities are as follows (in thousands): As of January 31, 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 34,808 $ 33,211 Tax credit carryover 10,905 8,963 Operating lease right-of-use assets 3,482 1,686 Stock-based compensation 1,114 1,101 Acquired intangible assets 256 53 Deferred revenue 18 19 Other 26 14 Gross deferred tax assets 50,609 45,047 Valuation allowance (45,111 ) (42,153 ) Net deferred tax assets $ 5,498 $ 2,894 Deferred tax liabilities: Operating lease liabilities $ (3,468 ) $ (1,533 ) Accruals and reserves (1,994 ) (1,265 ) Fixed assets depreciation (36 ) (96 ) Gross deferred tax liabilities $ (5,498 ) $ (2,894 ) Net deferred taxes $ — $ — Management believes that, based upon the available evidence, both positive and negative, it is more likely than not that the deferred tax As of January 31, 2022, the Company had net operating loss carryforwards for federal and state tax purposes of approximately $125.1 million and $94.8 million, respectively, available to offset future taxable income. If not utilized, these available carryforward losses will expire in various amounts for federal and state tax purposes beginning in 2030. In addition, the Company had research and development tax credits for federal and state purposes of approximately $10.5 million and $9.8 million, respectively, available to offset future taxes. If not utilized, the available federal credits will begin to expire in 2030. California state research and development tax credits can be carried forward indefinitely. Immaterial Corrections of Prior Period Disclosures . Subsequent to the Company’s filing of its Annual Report on Form 10-K for the year ended January 31, 2021, the Company identified certain errors relating to its presentation of deferred tax assets, specifically net operating loss carryforwards and the associated valuation allowance for state tax purposes. As a result, the previously reported net operating loss carryforwards deferred tax asset and the valuation allowance were each reduced by $7.4 million. These corrections had no impact on the Company’s income tax provision (benefit) reported in the consolidated statements of operations and no impact on net deferred taxes in the consolidated balance sheet as of and for the year ended January 31, 2021. The Company has evaluated the materiality of these errors based on an analysis of quantitative and qualitative factors and concluded they were not material to the prior period financial statements, individually or in the aggregate. Uncertain Tax Positions The Company has unrecognized tax benefits of approximately $8.1 million as of January 31, 2022. Deferred tax assets associated with these unrecognized tax benefits are fully offset by a valuation allowance. If recognized, these benefits would not affect the effective tax rate before consideration of the valuation allowance. The following table summarizes the activity related to unrecognized tax benefits (in thousands): Balance at January 31, 2020 $ 6,017 Decrease related to prior year positions (362 ) Increase related to current year tax positions 987 Balance at January 31, 2021 6,642 Increase related to current year tax positions 1,448 Balance at January 31, 2022 $ 8,090 The Company had no interest or penalty accruals associated with uncertain tax benefits in its balance sheets and statements of operations. The Company does not have any tax positions for which it is reasonably possible the total amount of gross unrecognized benefits will increase or decrease within 12 months of the year ended January 31, 2022. Because the Company has net operating loss and credit carryforwards, there are open statutes of limitations in which federal, state and foreign taxing authorities may examine the Company’s tax returns for all tax years from 2009 through the current period. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jan. 31, 2022 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 11: Commitments and Contingencies Purchase Commitments As of January 31, 2022 and 2021, non-cancelable inventory purchase commitments to contract manufacturers and other parties were approximately $19.4 million and $5.4 million, respectively. Additionally, the Company has a non-cancelable service agreement with a telecommunications provider that contains total annual minimum purchase commitments of $0.6 million between August 2021 and July 2022, $1.5 million between August 2022 and July 2023 and $2.5 million between August 2023 and July 2024. Legal Proceedings In addition to the litigation matters described below, from time to time, the Company may be involved in a variety of other claims, lawsuits, investigations, and proceedings relating to contractual disputes, intellectual property rights, employment matters, regulatory compliance matters, and other litigation matters relating to various claims that arise in the normal course of business. Defending such proceedings is costly and can impose a significant burden on management and employees, the Company may receive unfavorable preliminary or interim rulings in the course of litigation, and there can be no assurances that favorable final outcomes will be obtained. The Company determines whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. The Company assesses its potential liability by analyzing specific litigation and regulatory matters using reasonably available information. The Company develops its views on estimated losses in consultation with inside and outside counsel, which involves a subjective analysis of potential results and outcomes, assuming various combinations of appropriate litigation and settlement strategies. Legal fees are expensed in the period in which they are incurred. As of January 31, 2022 and 2021, the Company does not have any accrued liabilities recorded for loss contingencies in its consolidated financial statements. Oregon Tax Litigation On August 30, 2016, the Oregon Department of Revenue (the “DOR”) issued tax assessments against the Company for the Oregon Emergency Communications Tax (the “Tax”), which the DOR alleges Ooma should have collected from its subscribers in Oregon and remitted to the DOR during the period between January 1, 2013 and March 31, 2016 (collectively, the “Assessments”). The Company believes that the Commerce Clause of the United States Constitution bars the application of the Tax and the Assessments to the Company, since the Company has no employees, property or other indicia of a “substantial nexus” with the State of Oregon. On March 2, 2020, Oregon Tax Court issued a decision upholding the Assessments. On April 1, 2020, the Company filed a Notice of Appeal with the Supreme Court of the State of Oregon and on December 23, 2021, the Supreme Court of Oregon issued a decision upholding the assessment. The Company intends to file a petition for writ of certiorari with the United States Supreme Court. Litigation is unpredictable and there can be no assurances that the Company will obtain a favorable final outcome, even assuming the United States Supreme Court grants the Company’s petition. In prior fiscal years, the Company recorded and has paid cumulative charges of $0.6 million to the DOR as its best estimate of probable loss related to the Assessments. Canadian Litigation On February 3, 2021, plaintiff Fiona Chiu filed a class action complaint against the Company and Ooma Canada Inc. in the Federal Court of Canada, alleging violations of Canada’s Trademarks Act and Competition Act. The complaint seeks monetary and other damages and/or injunctive relief enjoining the Company to cease describing and marketing its Basic Home Phone using the word “free” or otherwise representing that it is free. On November 9, 2021, the Federal Court of Canada removed Ms. Chiu and substituted John Zanin as the new plaintiff in the proceeding. In connection with the substitution of Mr. Zanin as the new plaintiff, the Federal Court of Canada deemed the proceeding as having commenced on November 8, 2021 instead of February 3, 2021. During the week of January 17, 2022, the Federal Court of Canada heard arguments from counsel representing each of the Company and Mr. Zanin regarding jurisdiction and class action certification issues, and the parties are awaiting the Court to issue its ruling. The Company intends to continue to defend itself vigorously against this complaint. Based on the Company’s current knowledge, the Company has determined that the amount of any reasonably possible loss resulting from the Canadian Litigation is not estimable. Ind emnification The Company enters into standard indemnification arrangements in the ordinary course of business. Pursuant to these arrangements, the Company indemnifies, holds harmless and agrees to reimburse the indemnified parties for certain losses suffered or incurred by the indemnified party. In some cases, the term of these indemnification agreements is perpetual. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable because it involves claims that may be made against the Company in the future but have not yet been made. The Company has entered into indemnification agreements with its directors and officers that may require the Company to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers, other than liabilities arising from willful misconduct of the individual. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company has director and officer insurance coverage that reduces the Company’s exposure and enables the Company to recover a portion of any future amounts paid. To date the Company has not incurred costs to defend lawsuits or settle claims related to these indemnification agreements. No liability associated with such indemnifications has been recorded to date. |
Financing Arrangements
Financing Arrangements | 12 Months Ended |
Jan. 31, 2022 | |
Debt Disclosure [Abstract] | |
Financing Arrangements | Note 12: Financing Arrangements Revolving Credit Facility On January 8, 2021, the Company, as borrower, entered into a three year credit and security agreement (“Credit Agreement”) with KeyBank National Association as Administrative Agent (“Agent”) and lender, and KeyBanc Capital Markets Inc. as sole lead arranger and sole book runner. The Credit Agreement provides for a secured revolving credit facility (“Credit Facility”) under which the Company may borrow up to an aggregate amount of $25.0 million, which includes a $10.0 million sub-facility for letters of credit. The Company and its lenders may increase the total commitments under the Credit Facility to up to an aggregate amount of $45.0 million, subject to certain conditions. Funds borrowed under the Credit Agreement may be used for working capital and other general corporate purposes. Loans under the Credit Agreement will bear interest, at the Company’s option, at either a rate equal to the “Base Rate” (as defined in the Credit Agreement) or (b) “Eurodollar Rate” (as defined in the Credit Agreement) plus 2.50%. The Base Rate is the highest of (i) the Agent’s prime rate, (ii) the federal funds effective rate plus 0.5%, and (iii) the Eurodollar Rate with an interest period of one month plus 1%. The Eurodollar Rate is the London Interbank Offered Rate with various interest periods as may be selected by the Company but shall not be less than 0.75%. Upon the occurrence of any event of default, the interest rate on any borrowings increases by 2.0%. The Credit Agreement also contains customary provisions for the replacement of the London Interbank Offered Rate/Eurodollar Rate. The Company is required to pay a commitment fee on the unused portion of the Credit Facility of 0.25% per annum. The Credit Agreement contains customary representations, warranties, affirmative and negative covenants, events of default and indemnification provisions in favor of the Agent, lenders and their affiliates. Among other covenants, the Credit Agreement includes restrictive financial covenants that require the Company to meet minimum recurring revenue levels and maintain specified amounts of available liquidity on a quarterly basis. As of January 31, 2022, the Company had zero outstanding borrowings and was in compliance with the covenants contained in the Credit Agreement. Accordingly, $25.0 million of borrowing capacity was available for the purposes permitted by the Credit Agreement. |
Business Acquisitions
Business Acquisitions | 12 Months Ended |
Jan. 31, 2022 | |
Business Acquisitions And Divestitures [Abstract] | |
Business Acquisitions | Note 1 3 : Business Acquisitions Broadsmart Global, Inc. On May 24, 2019, the Company acquired all outstanding stock of Broadsmart, a provider of cloud-based UCaaS solutions based in Florida. The cash consideration transferred for Broadsmart was $7.1 million, net of cash assumed of $0.6 million. The Company acquired Broadsmart to provide scale for the Ooma Office and Ooma Enterprise platforms, which aligns with the Company’s overall enterprise growth strategy. The fair values of assets acquired and liabilities assumed as of the date of acquisition was as follows (in thousands): Fair Value Cash $ 649 Accounts receivable 1,003 Other current and non-current assets 639 Intangible assets 6,107 Goodwill 366 Accounts payable and other liabilities (1,043 ) Net assets acquired $ 7,721 Intangible assets acquired consisted of customer relationships of $5.8 million and trade names of $0.3 million. The acquisition of Broadsmart was treated as an asset purchase for income tax purposes, and therefore, the transaction did not result in the recording of deferred taxes as the Company's tax basis in the acquired assets equaled its book basis. The resulting goodwill from this acquisition was deductible for U.S. income tax purposes. |
Net Loss Per Share
Net Loss Per Share | 12 Months Ended |
Jan. 31, 2022 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | Note 14: Net Loss Per Share Basic and diluted net loss per share of common stock is calculated by dividing the net loss allocable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net loss per share of common stock is the same as basic net loss per share because the effects of potentially dilutive securities are antidilutive because the Company reported net losses for all periods presented. The following table sets forth the computation of basic and diluted net loss per share (in thousands, except share and per share data): Fiscal Year Ended January 31, 2022 2021 2020 Numerator Net loss $ (1,751 ) $ (2,441 ) $ (18,801 ) Denominator Weighted-average common shares 23,473,849 22,361,312 21,051,039 Basic and diluted net loss per share $ (0.07 ) $ (0.11 ) $ (0.89 ) Potentially dilutive securities of approximately 2.8 million, 3.3 million and 3.2 million were excluded from the computation of diluted net loss per share for fiscal 2022, 2021 and 2020, respectively. These shares include the Company’s outstanding RSUs, outstanding stock options and shares to be purchased under the ESPP at the end of the respective purchase period. In the event the Company reported net income for the periods presented, a portion of these outstanding securities would be reflected in weighted-average shares outstanding for diluted earnings per share by application of the treasury method. |
Retirement Plan
Retirement Plan | 12 Months Ended |
Jan. 31, 2022 | |
Compensation And Retirement Disclosure [Abstract] | |
Retirement Plan | Note 15: Retirement Plan The Company offers a qualified 401(k) defined contribution plan to eligible full-time employees that provides for discretionary employer matching and profit-sharing contributions. The Company matches the lower of 50% of employee contributions or 50% of the first 6% of each employee’s eligible compensation that is contributed to the 401(k) plan. Contributions made by the Company vest 100% upon contribution and are expensed as incurred as compensation costs. The Company’s matching contributions to the plan were $0.7 million for each of the fiscal years 2022, 2021 and 2020. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 31, 2022 | |
Accounting Policies [Abstract] | |
Principles of Presentation and Consolidation | Principles of Presentation and Consolidation. The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. In the opinion of the Company’s management, the consolidated financial statements reflect all adjustments, which are normal and recurring in nature, necessary for fair financial statement presentation. |
Fiscal Year | Fiscal Year. The Company’s fiscal year ends on January 31. References to fiscal 2022, fiscal 2021 and fiscal 2020 refer to the fiscal years ended January 31, 2022, January 31, 2021 and January 31, 2020, respectively. |
Use of Estimates | Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the Company’s consolidated financial statements and accompanying notes. Significant estimates include, but are not limited to, those related to revenue recognition, inventory valuation, deferred sales commissions, valuation of goodwill and intangible assets, operating lease assets and liabilities, regulatory fees and indirect tax accruals, loss contingencies, stock-based compensation and income taxes (including valuation allowances). The Company bases its estimates and assumptions on historical experience, where applicable, and other factors that it believes to be reasonable under the circumstances. These estimates are based on information available as of the date of the consolidated financial statements, and assumptions are inherently subjective in nature. Therefore, actual results could differ from management’s estimates. |
Comprehensive Loss | Comprehensive Loss. For all periods presented, comprehensive loss approximated net loss in the consolidated statements of operations and differences were not material. Therefore, the Consolidated Statements of Comprehensive Loss have been omitted. |
Segment Reporting | Segment Reporting. The chief operating decision maker for the Company is the chief executive officer, who reviews the Company’s financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. Accordingly, management has determined that the Company operates in a single Revenue was principally derived from customers located in the United States for all periods presented, with a small portion attributable to customers loca ted in Canada and other countries. |
Revenue Recognition | Revenue Recognition The Company derives its revenue from two sources: (1) subscription and services revenue, which is derived primarily from the sale of subscription plans for communications services and other connected services; and (2) product and other revenue. Subscriptions and services are sold directly to end-customers. Products are sold to end-customers through several channels, including but not limited to distributors, retailers and resellers (collectively “channel partners”), and Ooma sales representatives. The Company determines revenue recognition through the following steps: • identification of the contract(s) with a customer; • identification of the performance obligations in the contract; • determination of the transaction price; • allocation of the transaction price to the performance obligations in the contract; and • recognition of revenue when, or as, the Company satisfies a performance obligation |
Subscription and Service Revenue | Subscription and Services Revenue. Most of the Company’s revenue is derived from recurring subscription fees related to service plans such as Ooma Business, Ooma Residential and other communications services. Service plans are generally sold as monthly subscriptions; however, certain plans are also offered as annual or multi-year subscriptions. Subscription revenue is generally recognized ratably over the contractual service term. A small portion of total revenue is recognized on a point-in-time basis from services such as: prepaid international calls, directory assistance, and advertisements displayed through its Talkatone mobile application. |
Product and Other Revenue | Product and Other Revenue. Product and other revenue is generated primarily from the sale of on-premise devices and end-point devices, and to a lesser extent from porting fees that enable customers to transfer their existing phone numbers. The Company recognizes product and other revenue from sales to direct end-customers and channel partners at the point-in-time that control transfers, which is typically when it delivers the product. The Company’s distribution agreements with channel partners typically contain clauses for price protection and right of return. Credits and/or rebates issued for expected product returns and customer sales incentives are deemed to be variable consideration, which the Company estimates and records as a reduction to revenue at the point of sale. Product returns and sales incentives are estimated based on the Company’s historical experience, current trends and expectations regarding future experience. As of January 31, 2022 and 2021, total reserves for product returns and sales incentives were approximately $1.2 million and $1.1 million, respectively. Revenue is recorded net of any sales and telecommunications taxes collected from customers to be remitted to government authorities. Amounts billed to customers related to shipping and handling are classified as product and other revenue. Shipping and handling costs are expensed as incurred and classified as cost of revenue. |
Multiple performance obligations | Multiple performance obligations. The Company’s contracts with customers typically contain multiple performance obligations that consist of communications services and related product(s). For these contracts, individual performance obligations are accounted for separately if they are distinct. The contract transaction price is then allocated to the separate performance obligations on a relative stand-alone selling price basis. The Company determines the SSP for its communications services based on observable historical stand-alone sales to customers, for which a substantial majority of selling prices must fall within a reasonably narrow pricing range. The Company determines the SSP for its on-premise devices and end-point devices based upon management’s best estimates and judgments, considering company-specific factors such as pricing strategies, discounting practices, and estimated product and other costs. |
Cash Equivalents and Short-term Investments | Cash Equivalents and Short-term Investments. All highly liquid investments with an original maturity of three months or less at the date of purchase are classified as cash equivalents. Short-term investments are classified as available-for-sale and carried at fair value, with unrealized gains and losses, net of tax, recorded as a separate component of stockholders’ equity within accumulated other comprehensive (loss) income. The cost of securities sold is based upon the specific identification method. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments. The Company records its financial assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the reporting date. The Company estimates and categorizes the fair value of its financial assets by applying the following hierarchy: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2: Observable prices based on inputs not quoted in active markets but are corroborated by market data. Level 3: Unobservable inputs that are supported by little or no market activity The carrying value of the Company’s financial instruments, including cash equivalents, accounts receivable, inventory, accounts payable and other current assets and current liabilities approximates fair value due to their short maturities. |
Concentrations | Concentrations. Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, short-term investments, accounts receivable and convertible note receivable (Note 5). The Company’s cash, cash equivalents and short-term investments are held by financial institutions that management believes are of high-credit quality although the balances, at times, may exceed federally insured limits. The Company performs credit evaluations of its customers’ financial condition and generally does not require collateral for sales made on credit. Customers who represented 10% or more of net accounts receivable were as follows: As of January 31, 2022 January 31, 2021 Customer A 19% * Customer B 11% * Customer C * 10% |
Accounts Receivable | Accounts Receivable. Accounts receivable are recorded net of an allowance for doubtful accounts for estimated credit losses. Allowances are recorded based upon assessment of several factors, including historical experience, aging of receivable balances and economic conditions. As of January 31, 2022 and 2021, the allowance for doubtful accounts was $0.3 million. Bad debt expense recorded in the consolidated statement of operations was not material for the periods presented. |
Inventories | Inventories. Inventories, which consist of raw materials and finished goods, include the cost to purchase manufactured products, allocated labor and overhead. Inventories are stated at the lower of actual cost and net realizable value on a first-in, first-out basis. The Company writes down the carrying value of inventory to net realizable value for estimated excess and obsolete inventory based upon assumptions about forecast demand and market conditions. Inventory carrying value adjustments are recognized as a component of cost of product and other revenue in the consolidated statement of operations. |
Customer Acquisition Costs | Customer Acquisition Costs. Sales commissions and other costs paid to internal sales personnel, third-party sales entities and value-added resellers are considered incremental and recoverable costs of obtaining customer contracts. The resellers are selling agents for the Company and earn sales commissions that are directly tied to the value of the contracts that the Company enters with the end-user customers. These costs are capitalized and amortized on a systematic basis over the expected period of benefit of five years, or customer contractual term for multi-year contracts. The Company has determined the period of benefit taking into consideration both qualitative and quantitative factors, such as expected subscription term and expected renewal periods of its customer contracts, product life cycles and customer attrition. Amortization expense is recorded in sales and marketing expenses in the consolidated statement of operations. The Company pays sales commissions on initial contracts, contracts for increased purchases with existing customers (expansion contracts) and certain contract renewals. The Company periodically evaluates whether there have been any changes in its business, the market conditions in which it operates or other events which would indicate that its amortization period should be changed or if there are potential indicators of impairment. To date, there have been no material impairment losses related to the costs capitalized. |
Internal-Use Website Development Costs | Internal-Use Website Development Costs. The Company capitalizes certain costs to develop its customer-facing websites when preliminary development efforts are successfully completed, management has authorized and committed project funding, and it is probable that the project will be completed and the software will be used as intended. Such costs primarily include payroll-related costs for engineers and contractors directly associated with the development project. Capitalized website development costs are included in property and equipment and are amortized on a straight-line basis over an estimated useful life of two years. Costs related to preliminary project activities and post-implementation activities are expensed as incurred. |
Property and Equipment, net | Property and Equipment, net. Property and equipment, net is stated at cost, less accumulated depreciation and amortization. Depreciation and amortization is computed on a straight-line basis over the estimated useful lives of those assets, generally two to five years. Leasehold improvements are amortized over the shorter of the lease term or estimated useful lives of the respective assets. Repairs and maintenance costs that do not extend the life or improve the asset are expensed as incurred. |
Operating Leases | Operating Leases. The Company determines if an arrangement is a lease at inception. The Company’s leases primarily consist of office and data center space and are classified as operating leases. The Company does not have any finance leases nor material arrangements as a lessor. Right-of-use lease assets and lease liabilities are recognized at the lease commencement date based upon the present value of the remaining lease payments over the lease term. The Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Lease expense for lease payments is recognized on a straight-line basis over the term of the lease. The accounting lease term may include options to renew or extend when it is reasonably certain that the option will be exercised. Lease agreements that contain both lease and non-lease components are accounted for as a single component. Short-term leases with an initial term of twelve months or less are not recorded on the balance sheet. |
Goodwill | Goodwill. Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in a business combination. The Company evaluates goodwill for impairment annually in the fourth quarter of its fiscal year, or more frequently if indicators of potential impairment arise. The Company has a single reporting unit and consequently evaluates goodwill for impairment based on an evaluation of the fair value of the Company as a whole. No impairment has been recognized for any of the periods presented. |
Intangible Assets | Intangible Assets. Acquired intangible assets other than goodwill, which primarily consist of customer relationships, are amortized over their useful lives unless the lives are determined to be indefinite. For intangible assets acquired in a business combination, the estimated fair values of the assets received are used to establish their recorded values. Valuation techniques consistent with the market approach, income approach and/or cost approach are used to measure fair value. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets. Long-lived assets, such as property and equipment, capitalized website development costs, and intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. The Company did not record any material impairment charges for fiscal 2022 or fiscal 2021. During fiscal 2020, the Company recorded impairment charges of $0.7 million to cost of product revenue for abandoned developed technology and trade names associated with the Ooma Smart Cam, which was acquired through the fiscal 2018 acquisition of Butterfleye, Inc. and discontinued in October 2019. |
Research and Development | Research and Development. Research and development costs are charged to operating expenses as incurred in the consolidated statements of operations, except for internal-use website development costs that qualify for capitalization, as per above. Research and development expenses consist primarily of personnel-related costs for employees and contractors, including stock-based compensation, as well as license and product certification fees and allocated overhead costs. |
Advertising | Advertising. Advertising costs are included in sales and marketing and expensed as incurred, except for production costs associated with television and radio advertising, which are expensed on the first date of airing. Advertising costs were $14.5 million, $12.2 million and $13.6 million for fiscal 2022, 2021 and 2020, respectively. Advertising payments to the Company’s channel partners recorded as a reduction in revenue totaled $0.3 million, $0.3 million and $0.4 million for fiscal 2022, 2021 and 2020, respectively. |
Stock-Based Compensation | Stock-Based Compensation. Stock-based compensation expense for all stock-based awards granted to employees and non-employee directors are measured at the grant date fair value of the equity award. The fair value of options granted and purchase rights under the Company’s ESPP are estimated on the date of grant using the Black-Scholes pricing model. The fair value of each RSU granted is determined using the closing market price of the Company’s common stock on the date of grant. Compensation expense is recognized using the straight-line method over the requisite service period, which is generally the vesting period. Forfeitures are recorded in the period in which they occur. |
Income Taxes | Income Taxes. Income taxes are recorded using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income (loss) in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. A tax position is recognized when it is more-likely-than-not that the tax position will be sustained upon examination, including resolution of any related appeals or litigation processes. A tax position that meets the more likely than not recognition threshold is measured at the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement with a taxing authority. Interest and penalties associated with unrecognized tax benefits are classified as income tax expense. The Company had no interest or penalty accruals associated with uncertain tax benefits in its consolidated balance sheets and statements of operations for any periods presented. |
Foreign Currency | Foreign currency. The U.S. dollar is the functional currency of the Company's foreign subsidiaries. Remeasurement and transaction gains and losses are included in interest and other income, net and were not material for any periods presented. |
Adopted Accounting Standards | Adopted Accounting Standards Financial Instruments-Credit Losses. On February 1, 2021, the Company adopted Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740) : Simplifying the Accounting for Income Taxes , which simplified certain aspects of the accounting for income taxes as well as clarified and amended existing guidance to improve consistent application. Adoption did not have a material impact on the Company’s consolidated financial statements and related disclosures. |
Accounting Standards Not Yet Adopted |
Significant Accounting Polici_3
Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Accounting Policies [Abstract] | |
Concentration of Net Accounts Receivable Balance | Customers who represented 10% or more of net accounts receivable were as follows: As of January 31, 2022 January 31, 2021 Customer A 19% * Customer B 11% * Customer C * 10% |
Revenue and Deferred Revenue (T
Revenue and Deferred Revenue (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Revenue From Contract With Customer [Abstract] | |
Summary of Revenue Disaggregated by Revenue Source | Revenue disaggregated by revenue source consisted of the following (in thousands): Fiscal Year Ended January 31, 2022 2021 2020 Subscription and services revenue $ 175,942 $ 156,873 $ 139,499 Product and other revenue 16,348 12,074 12,094 Total revenue $ 192,290 $ 168,947 $ 151,593 |
Components of Deferred Revenue | As of January 31, 2022 January 31, 2021 Subscription and services $ 16,614 $ 16,433 Product and other 59 68 Total deferred revenue $ 16,673 16,501 Less: current deferred revenue 16,600 16,426 Non-current deferred revenue included in other long-term liabilities $ 73 $ 75 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Schedule of Financial Assets at Fair Value | Financial assets measured at fair value on a recurring basis by level were as follows (in thousands): Balance as of January 31, 2022 Level 1 Level 2 Total Cash and cash equivalents: Money market funds $ 2,275 $ — $ 2,275 Total cash equivalents $ 2,275 $ — $ 2,275 Cash 17,392 Total cash and cash equivalents $ 19,667 Short-term investments: U.S. treasury securities $ 7,065 $ — $ 7,065 Commercial paper — 4,548 4,548 Total short-term investments $ 7,065 $ 4,548 $ 11,613 Balance as of January 31, 2021 Level 1 Level 2 Total Cash and cash equivalents: Money market funds $ 1,657 $ — $ 1,657 U.S. agency securities — 1,000 1,000 U.S. treasury securities 250 — 250 Total cash equivalents $ 1,907 $ 1,000 $ 2,907 Cash 14,391 Total cash and cash equivalents $ 17,298 Short-term investments: U.S. treasury securities $ 9,782 $ — $ 9,782 Corporate debt securities — 929 929 Asset-backed securities — 302 302 Total short-term investments $ 9,782 $ 1,231 $ 11,013 |
Schedule of Contractual Maturities of Short-term Investments | Contractual maturities of short-term investments were as follows (in thousands): As of January 31, 2022 January 31, 2021 Due in one year or less $ 10,377 $ 11,013 Due after one year to two years 1,236 — Total $ 11,613 $ 11,013 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Balance Sheet Components [Abstract] | |
Components of Inventories | The following sections and tables provide details of selected balance sheet items (in thousands): Inventories As of January 31, 2022 January 31, 2021 Finished goods $ 10,452 $ 11,057 Raw materials 3,389 1,176 Total inventory $ 13,841 $ 12,233 |
Components of Property and Equipment, Net | Property and equipment, net As of Estimated life (in years) January 31, 2022 January 31, 2021 Computer hardware and software 3-4 $ 6,996 $ 6,944 Network and engineering equipment 3-5 4,979 4,164 Website development costs 2 4,816 3,191 Customer premise equipment 3 3,965 2,041 Leasehold improvements 1-5 447 418 Office furniture and fixtures 5 124 124 Total property and equipment 21,327 16,882 Less: accumulated depreciation and amortization (14,846 ) (11,811 ) Property and equipment, net $ 6,481 $ 5,071 |
Components of Other Current and Non-current Assets | Other current and non-current assets As of January 31, 2022 January 31, 2021 Deferred sales commissions, current $ 6,395 $ 4,689 Prepaid expenses 4,239 3,152 Convertible note receivable (see "GTC" below) 1,773 1,605 Deferred inventory costs 344 381 Other current assets 847 395 Total other current assets $ 13,598 $ 10,222 Deferred sales commissions, non-current $ 13,228 $ 11,474 Other non-current assets 647 736 Total other non-current assets $ 13,875 $ 12,210 |
Components of Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities As of January 31, 2022 January 31, 2021 Payroll and related expenses $ 10,853 $ 11,062 Regulatory fees and taxes 3,933 4,141 Short-term operating lease liabilities 3,260 3,831 Customer-related liabilities 1,587 1,262 Other 3,190 2,435 Total accrued expenses and other current liabilities $ 22,823 $ 22,731 |
Acquired Intangible Assets (Tab
Acquired Intangible Assets (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Intangible Assets Net Excluding Goodwill [Abstract] | |
Schedule of Carrying Value of Intangible Assets Other than Goodwill | The gross value, accumulated amortization and carrying values of intangible assets were as follows (in thousands): As of January 31, 2022 As of January 31, 2021 Estimated life (in years) Gross Value Accumulated Amortization Carrying Value Gross Value Accumulated Amortization Carrying Value Customer relationships 5-7 $ 6,735 $ (2,921 ) $ 3,814 $ 6,735 $ (1,908 ) $ 4,827 Developed technology 5 1,809 (1,584 ) 225 1,809 (1,385 ) 424 Trade names 5 564 (395 ) 169 564 (302 ) 262 Total intangible assets $ 9,108 $ (4,900 ) $ 4,208 $ 9,108 $ (3,595 ) $ 5,513 |
Schedule of Estimated Future Amortization Expense | At January 31, 2022, the estimated future amortization expense for intangible assets is as follows (in thousands): Fiscal Years Ending January 31, Total 2023 $ 1,304 2024 941 2025 852 2026 833 2027 278 Total $ 4,208 |
Operating Leases (Tables)
Operating Leases (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Leases [Abstract] | |
Summary of Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases was as follows (in thousands): As of January 31, 2022 January 31, 2021 Assets Operating lease right-of-use assets $ 14,396 $ 6,045 Total leased assets $ 14,396 $ 6,045 Liabilities Short-term operating lease liabilities $ 3,260 $ 3,831 Long-term operating lease liabilities 11,194 2,815 Total lease liabilities $ 14,454 $ 6,646 Weighted-average remaining lease term 5.8 years 2.2 years Weighted-average discount rate 3.7 % 4.6 % |
Components of Lease Expense | The components of lease expense were as follows (in thousands): Fiscal Year Ended January 31, 2022 2021 2020 Operating lease costs (1) $ 3,861 $ 3,947 $ 2,796 Variable lease costs (2) 972 948 1,062 Total lease cost $ 4,833 $ 4,895 $ 3,858 (1) Recognized on a straight-line basis over the lease term. Includes rent for leases with initial terms of twelve months or less, which were not material. (2) Primarily included common area maintenance, utilities and property taxes and insurance, which were expensed as incurred. |
Summary of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases was as follows (in thousands): Fiscal Year Ended January 31, 2022 2021 2020 Cash payments for operating leases $ 3,945 $ 3,343 $ 2,148 Right-of-use assets recognized in exchange for new operating lease obligations $ 11,289 $ 1,196 $ 5,856 |
Summary of Maturities of Operating Lease Liabilities | As of January 31, 2022, maturities of operating lease liabilities were as follows (in thousands): Fiscal Years Ending January 31, January 31, 2022 2023 $ 3,188 2024 3,175 2025 2,840 2026 1,662 2027 1,684 Thereafter 3,555 Total future minimum lease payments 16,104 Less: imputed interest (1,650 ) Present value of lease liabilities $ 14,454 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Equity [Abstract] | |
Schedule of Common Stock Reserved for Issuance | The Company had shares of common stock reserved for issuance as follows (in thousands): As of January 31, 2022 January 31, 2021 Restricted stock units outstanding 1,312 1,441 Options to purchase common stock 1,325 1,366 Shares available for future issuance under stock plans 2,354 1,887 Shares reserved under ESPP 1,370 1,131 Total shares reserved for issuance 6,361 5,825 |
Summarizes of Stock Option Activities | Stock option activity for fiscal 2022 was as follows : Weighted-Average Aggregate Shares Exercise Price Intrinsic Value (in thousands) Per Share (in thousands) Balance as of January 31, 2021 1,366 $ 7.95 $ 7,803 Granted 120 $ 16.28 Exercised (125 ) $ 3.81 Canceled (36 ) $ 13.79 Balance as of January 31, 2022 1,325 $ 8.93 $ 12,064 Vested and exercisable as of January 31, 2022 1,152 $ 8.18 $ 11,363 |
Summarizes of Restricted Stock Units Activities | RSU activity for fiscal 2022 was as follows: Shares (in thousands) Weighted-Average Grant-Date Fair Value Per Share Balance as of January 31, 2021 1,441 $ 12.54 Granted 919 $ 17.04 Vested (824 ) $ 13.19 Canceled (224 ) $ 13.93 Balance as of January 31, 2022 1,312 $ 15.05 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Total Stock-Based Compensation Recognized for Stock-Based Awards in Consolidated Statements of Operations | Total stock-based compensation recognized for stock-based awards in the consolidated statements of operations was as follows (in thousands): Fiscal Year Ended January 31, 2022 2021 2020 Cost of revenue $ 979 $ 1,015 $ 1,262 Sales and marketing 1,856 1,910 1,929 Research and development 4,216 4,267 4,610 General and administrative 5,631 5,083 4,960 Total stock-based compensation expense $ 12,682 $ 12,275 $ 12,761 |
Summary of Assumptions Used to Estimate Fair Value of Employee Stock Options Grants and Employee Stock Purchase Plan Using Black-Scholes Option Pricing Model | The fair value of employee stock options and ESPP was estimated using the Black–Scholes model with the following assumptions: Fiscal Year Ended January 31, 2022 2021 2020 Stock Options: Expected volatility 51% 47% 44% Expected term (in years) 6.1 6.1 6.1 Risk-free interest rate 0.9% 0.6% 2.5% Dividend yield NA NA NA Fiscal Year Ended January 31, 2022 2021 2020 ESPP: Expected volatility 41%-58% 46%-83% 40%-51% Expected term (in years) 0.5-2.0 0.5-2.0 0.5-2.0 Risk-free interest rate 0.1%-0.2% 0.1%-0.4% 1.7%-2.5% Dividend yield NA NA NA |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Components of Loss Before Income Taxes | Loss before income taxes consisted of the following components (in thousands): Fiscal Year Ended January 31, 2022 2021 2020 United States $ 1,340 $ (120 ) $ (17,051 ) Foreign (3,091 ) (2,236 ) (1,880 ) Loss before income taxes $ (1,751 ) $ (2,356 ) $ (18,931 ) |
Reconciliation of Income Tax Provision (Benefit) | Income tax provision (benefit) differed from the amount computed by applying the U.S. federal income tax rate to pre-tax loss as a result of the following (dollars in thousands): Fiscal Year Ended January 31, 2022 Rate 2021 Rate 2020 Rate Federal tax at statutory rate $ (368 ) 21 % $ (495 ) 21 % $ (3,975 ) 21 % State taxes, net of federal benefit 52 (3 )% 75 (3 )% 12 — Foreign income and withholding taxes (185 ) 11 % (87 ) 3 % (98 ) 1 % Permanent tax adjustment 58 (3 )% 163 (7 )% 114 (1 )% Section 162(m) 1,050 (60 )% 598 (25 )% 606 (3 )% Stock-based compensation (1,545 ) 88 % (251 ) 11 % (624 ) 3 % Change in valuation allowance 2,959 (169 )% 185 (8 )% 5,445 (29 )% Research and development credit (1,980 ) 113 % (243 ) 10 % (1,279 ) 7 % Other (41 ) 2 % 140 (6 )% (331 ) 2 % Income tax provision (benefit) at effective tax rate $ — (0 )% $ 85 (4 )% $ (130 ) 1 % |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and liabilities are as follows (in thousands): As of January 31, 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 34,808 $ 33,211 Tax credit carryover 10,905 8,963 Operating lease right-of-use assets 3,482 1,686 Stock-based compensation 1,114 1,101 Acquired intangible assets 256 53 Deferred revenue 18 19 Other 26 14 Gross deferred tax assets 50,609 45,047 Valuation allowance (45,111 ) (42,153 ) Net deferred tax assets $ 5,498 $ 2,894 Deferred tax liabilities: Operating lease liabilities $ (3,468 ) $ (1,533 ) Accruals and reserves (1,994 ) (1,265 ) Fixed assets depreciation (36 ) (96 ) Gross deferred tax liabilities $ (5,498 ) $ (2,894 ) Net deferred taxes $ — $ — |
Summary of Activity Related to Unrecognized Tax Benefits | The following table summarizes the activity related to unrecognized tax benefits (in thousands): Balance at January 31, 2020 $ 6,017 Decrease related to prior year positions (362 ) Increase related to current year tax positions 987 Balance at January 31, 2021 6,642 Increase related to current year tax positions 1,448 Balance at January 31, 2022 $ 8,090 |
Business Acquisitions (Tables)
Business Acquisitions (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Broadsmart Global, Inc. | |
Business Acquisition [Line Items] | |
Summary of Fair Values of Assets Acquired and Liabilities Assumed | The fair values of assets acquired and liabilities assumed as of the date of acquisition was as follows (in thousands): Fair Value Cash $ 649 Accounts receivable 1,003 Other current and non-current assets 639 Intangible assets 6,107 Goodwill 366 Accounts payable and other liabilities (1,043 ) Net assets acquired $ 7,721 |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 12 Months Ended |
Jan. 31, 2022 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Net Loss Per Share | The following table sets forth the computation of basic and diluted net loss per share (in thousands, except share and per share data): Fiscal Year Ended January 31, 2022 2021 2020 Numerator Net loss $ (1,751 ) $ (2,441 ) $ (18,801 ) Denominator Weighted-average common shares 23,473,849 22,361,312 21,051,039 Basic and diluted net loss per share $ (0.07 ) $ (0.11 ) $ (0.89 ) |
Overview and Basis of Present_2
Overview and Basis of Presentation - Additional Information (Details) | 12 Months Ended |
Jan. 31, 2022Segment | |
Accounting Policies [Abstract] | |
Reportable segments | 1 |
Significant Accounting Polici_4
Significant Accounting Policies - Additional Information (Details) | 12 Months Ended | ||
Jan. 31, 2022USD ($)Source | Jan. 31, 2021USD ($) | Jan. 31, 2020USD ($) | |
Significant Accounting Policies [Line Items] | |||
Number of sources of revenue | Source | 2 | ||
Allowances for product returns and customer sales incentives | $ 1,200,000 | $ 1,100,000 | |
Allowances for doubtful accounts | 300,000 | 300,000 | |
Impairment loss in relation to deferred commission costs capitalized | 0 | ||
Impairment of goodwill | 0 | 0 | $ 0 |
Impairment of long-lived assets | 0 | 0 | 700,000 |
Advertising payments to channel partners | 300,000 | 300,000 | 400,000 |
Interest expense or penalties related to unrecognized tax benefits | 0 | 0 | 0 |
Sales and marketing | |||
Significant Accounting Policies [Line Items] | |||
Advertising costs | $ 14,500,000 | $ 12,200,000 | $ 13,600,000 |
Website Development Costs | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful life of property and equipment | 2 years | ||
Deferred Sales Commissions | |||
Significant Accounting Policies [Line Items] | |||
Estimated life (in years) | 5 years | ||
Minimum | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful life of property and equipment | 2 years | ||
Maximum | |||
Significant Accounting Policies [Line Items] | |||
Estimated useful life of property and equipment | 5 years |
Significant Accounting Polici_5
Significant Accounting Policies - Concentration of Net Accounts Receivable Balance (Details) - Accounts Receivable - Customer Concentration Risk | Jan. 31, 2022 | Jan. 31, 2021 |
Customer A | ||
Concentration Risk [Line Items] | ||
Concentration risk, percentage | 19.00% | |
Customer B | ||
Concentration Risk [Line Items] | ||
Concentration risk, percentage | 11.00% | |
Customer C | ||
Concentration Risk [Line Items] | ||
Concentration risk, percentage | 10.00% |
Significant Accounting Polici_6
Significant Accounting Policies - Concentration of Net Accounts Receivable Balance (Parenthetical) (Details) | 12 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Accounts Receivable | Customer Concentration Risk | Maximum | ||
Significant Accounting Policies [Line Items] | ||
Accounts receivable concentration | 10.00% | 10.00% |
Revenue and Deferred Revenue -
Revenue and Deferred Revenue - Summary of Revenue Disaggregated by Revenue Source (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Disaggregation Of Revenue [Line Items] | |||
Total revenue | $ 192,290 | $ 168,947 | $ 151,593 |
Subscription and services | |||
Disaggregation Of Revenue [Line Items] | |||
Total revenue | 175,942 | 156,873 | 139,499 |
Product and other | |||
Disaggregation Of Revenue [Line Items] | |||
Total revenue | $ 16,348 | $ 12,074 | $ 12,094 |
Revenue and Deferred Revenue _2
Revenue and Deferred Revenue - Additional Information (Details) $ in Millions | 12 Months Ended | |||
Dec. 31, 2022USD ($) | Jan. 31, 2022CountryCustomer | Jan. 31, 2021CountryCustomer | Jan. 31, 2020CountryCustomer | |
Disaggregation Of Revenue [Line Items] | ||||
Number of countries outside United States represented 10% or more of total revenue | Country | 0 | 0 | 0 | |
Number of customers that individually exceeded 10% of revenue | Customer | 0 | 0 | 0 | |
Deferred revenue recognized | $ | $ 16.4 | |||
Ooma Residential | Revenue | Product Concentration Risk | ||||
Disaggregation Of Revenue [Line Items] | ||||
Concentration risk, percentage | 49.00% | 54.00% | 58.00% | |
Ooma Business | Revenue | Product Concentration Risk | ||||
Disaggregation Of Revenue [Line Items] | ||||
Concentration risk, percentage | 49.00% | 44.00% | 39.00% |
Revenue and Deferred Revenue _3
Revenue and Deferred Revenue - Components of Deferred Revenue (Details) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | $ 16,673 | $ 16,501 |
Less: current deferred revenue | 16,600 | 16,426 |
Non-current deferred revenue included in other long-term liabilities | 73 | 75 |
Subscription and Services | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | 16,614 | 16,433 |
Product and Other | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | $ 59 | $ 68 |
Revenue and Deferred Revenue _4
Revenue and Deferred Revenue - Additional Information (Details 1) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-02-01 $ in Millions | Jan. 31, 2022USD ($) |
Disaggregation Of Revenue [Line Items] | |
Revenue expected to be recognized from remaining performance obligations | $ 9.1 |
Revenue expected to be recognized from remaining performance obligations, percentage | 53.00% |
Revenue expected to be recognized from remaining performance obligations, period | 12 months |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Financial Assets at Fair Value (Details) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Level 1 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total short-term investments | $ 7,065 | $ 9,782 |
Level 1 | U.S. Treasury Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total short-term investments | 7,065 | 9,782 |
Level 2 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total short-term investments | 4,548 | 1,231 |
Level 2 | Corporate Debt Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total short-term investments | 929 | |
Level 2 | Commercial Paper | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total short-term investments | 4,548 | |
Level 2 | Asset-Backed Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total short-term investments | 302 | |
Level 3 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total cash and cash equivalents | 19,667 | 17,298 |
Total short-term investments | 11,613 | 11,013 |
Level 3 | U.S. Treasury Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total short-term investments | 7,065 | 9,782 |
Level 3 | Corporate Debt Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total short-term investments | 929 | |
Level 3 | Commercial Paper | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total short-term investments | 4,548 | |
Level 3 | Asset-Backed Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total short-term investments | 302 | |
Cash | Level 3 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total cash and cash equivalents | 17,392 | 14,391 |
Cash Equivalents | Level 1 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total cash and cash equivalents | 2,275 | 1,907 |
Cash Equivalents | Level 1 | U.S. Treasury Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total cash and cash equivalents | 250 | |
Cash Equivalents | Level 1 | Money Market Funds | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total cash and cash equivalents | 2,275 | 1,657 |
Cash Equivalents | Level 2 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total cash and cash equivalents | 1,000 | |
Cash Equivalents | Level 2 | U.S. Agency Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total cash and cash equivalents | 1,000 | |
Cash Equivalents | Level 3 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total cash and cash equivalents | 2,275 | 2,907 |
Cash Equivalents | Level 3 | U.S. Agency Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total cash and cash equivalents | 1,000 | |
Cash Equivalents | Level 3 | U.S. Treasury Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total cash and cash equivalents | 250 | |
Cash Equivalents | Level 3 | Money Market Funds | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Total cash and cash equivalents | $ 2,275 | $ 1,657 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) | Jan. 31, 2022USD ($) |
Fair Value Disclosures [Abstract] | |
Fair value level asset and liability | $ 0 |
Fair Value Measurements - Sch_2
Fair Value Measurements - Schedule of Contractual Maturities of Short-term Investments (Details) - Short-term Investments - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Schedule Of Available For Sale Securities [Line Items] | ||
Due in one year or less | $ 10,377 | $ 11,013 |
Due after one year to two years | 1,236 | |
Total | $ 11,613 | $ 11,013 |
Balance Sheet Components - Comp
Balance Sheet Components - Components of Inventories (Details) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Inventory Disclosure [Abstract] | ||
Finished goods | $ 10,452 | $ 11,057 |
Raw materials | 3,389 | 1,176 |
Total inventory | $ 13,841 | $ 12,233 |
Balance Sheet Components - Co_2
Balance Sheet Components - Components of Property And Equipment, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Property Plant And Equipment [Line Items] | ||
Total property and equipment | $ 21,327 | $ 16,882 |
Less: accumulated depreciation and amortization | (14,846) | (11,811) |
Property and equipment, net | $ 6,481 | 5,071 |
Minimum | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, estimated life | 2 years | |
Maximum | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, estimated life | 5 years | |
Computer Hardware and Software | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment | $ 6,996 | 6,944 |
Computer Hardware and Software | Minimum | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, estimated life | 3 years | |
Computer Hardware and Software | Maximum | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, estimated life | 4 years | |
Network and Engineering Equipment | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment | $ 4,979 | 4,164 |
Network and Engineering Equipment | Minimum | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, estimated life | 3 years | |
Network and Engineering Equipment | Maximum | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, estimated life | 5 years | |
Website Development Costs | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment | $ 4,816 | 3,191 |
Property and equipment, estimated life | 2 years | |
Customer Premise Equipment | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment | $ 3,965 | 2,041 |
Property and equipment, estimated life | 3 years | |
Leasehold Improvements | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment | $ 447 | 418 |
Leasehold Improvements | Minimum | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, estimated life | 1 year | |
Leasehold Improvements | Maximum | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, estimated life | 5 years | |
Office Furniture and Fixtures | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment | $ 124 | $ 124 |
Property and equipment, estimated life | 5 years |
Balance Sheet Components - Addi
Balance Sheet Components - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | Dec. 31, 2018 | |
Balance Sheet Components [Line Items] | ||||
Depreciation and amortization | $ 3.1 | $ 2.9 | $ 2.5 | |
Amortization expense for total deferred sales commissions | 6 | 3.9 | $ 2.2 | |
Non-cancelable purchase commitments | 19.4 | $ 5.4 | ||
Global Telecomm Corporation | ||||
Balance Sheet Components [Line Items] | ||||
Payment for inventory purchases and related costs | $ 2.7 | |||
Global Telecomm Corporation | Convertible Promissory Note | ||||
Balance Sheet Components [Line Items] | ||||
Investment in privately-held company | $ 1.3 |
Balance Sheet Components - Co_3
Balance Sheet Components - Components of Other Current and Non-current Assets (Details) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Other Assets [Abstract] | ||
Deferred sales commissions, current | $ 6,395 | $ 4,689 |
Prepaid expenses | 4,239 | 3,152 |
Convertible note receivable (see "GTC" below) | 1,773 | 1,605 |
Deferred inventory costs | 344 | 381 |
Other current assets | 847 | 395 |
Total other current assets | 13,598 | 10,222 |
Deferred sales commissions, non-current | 13,228 | 11,474 |
Other non-current assets | 647 | 736 |
Total other non-current assets | $ 13,875 | $ 12,210 |
Balance Sheet Components - Co_4
Balance Sheet Components - Components of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Payables And Accruals [Abstract] | ||
Payroll and related expenses | $ 10,853 | $ 11,062 |
Regulatory fees and taxes | 3,933 | 4,141 |
Short-term operating lease liabilities | $ 3,260 | $ 3,831 |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] | Total accrued expenses and other current liabilities | Total accrued expenses and other current liabilities |
Customer-related liabilities | $ 1,587 | $ 1,262 |
Other | 3,190 | 2,435 |
Total accrued expenses and other current liabilities | $ 22,823 | $ 22,731 |
Acquired Intangible Assets - Su
Acquired Intangible Assets - Summary of Carrying Values of Intangible Assets Other than Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Finite Lived Intangible Assets [Line Items] | ||
Gross Value, Intangible Assets | $ 9,108 | $ 9,108 |
Accumulated Amortization, Intangible Assets | (4,900) | (3,595) |
Carrying Value, Intangible Assets | 4,208 | 5,513 |
Customer relationships | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Value, Intangible Assets | 6,735 | 6,735 |
Accumulated Amortization, Intangible Assets | (2,921) | (1,908) |
Carrying Value, Intangible Assets | $ 3,814 | 4,827 |
Customer relationships | Minimum | ||
Finite Lived Intangible Assets [Line Items] | ||
Estimated life (in years) | 5 years | |
Customer relationships | Maximum | ||
Finite Lived Intangible Assets [Line Items] | ||
Estimated life (in years) | 7 years | |
Developed technology | ||
Finite Lived Intangible Assets [Line Items] | ||
Estimated life (in years) | 5 years | |
Gross Value, Intangible Assets | $ 1,809 | 1,809 |
Accumulated Amortization, Intangible Assets | (1,584) | (1,385) |
Carrying Value, Intangible Assets | $ 225 | 424 |
Trade names | ||
Finite Lived Intangible Assets [Line Items] | ||
Estimated life (in years) | 5 years | |
Gross Value, Intangible Assets | $ 564 | 564 |
Accumulated Amortization, Intangible Assets | (395) | (302) |
Carrying Value, Intangible Assets | $ 169 | $ 262 |
Acquired Intangible Assets - Ad
Acquired Intangible Assets - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Intangible Assets Net Excluding Goodwill [Abstract] | |||
Amortization expense | $ 1.3 | $ 1.3 | $ 1.2 |
Acquired Intangible Assets - Sc
Acquired Intangible Assets - Schedule of Estimated Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Goodwill And Intangible Assets Disclosure [Abstract] | ||
2023 | $ 1,304 | |
2024 | 941 | |
2025 | 852 | |
2026 | 833 | |
2027 | 278 | |
Carrying Value, Intangible Assets | $ 4,208 | $ 5,513 |
Operating Leases - Additional I
Operating Leases - Additional Information (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | 85 Months Ended | ||
May 31, 2021 | Jul. 31, 2021 | Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | Mar. 15, 2029 | |
Lessee Lease Description [Line Items] | ||||||
Operating lease, description | The Company leases its headquarters located in Sunnyvale, California, as well as office and data center space in several locations under non-cancelable operating lease agreements, with expiration dates through fiscal 2030. | |||||
Operating lease, expiration date ending period | 2030 | |||||
Sublease, option to extend | true | |||||
Description of sublease extension | Company extended the sublease term for its corporate headquarters in Sunnyvale, California from an end date of January 31, 2022 to March 15, 2029. | |||||
Operating Lease liability difference amount | $ 9,500 | $ 11,289 | $ 1,196 | $ 5,856 | ||
Scenario Forecast | ||||||
Lessee Lease Description [Line Items] | ||||||
Undiscounted rental payment on sublease extension | $ 11,100 |
Operating Leases - Summary of S
Operating Leases - Summary of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Assets | ||
Operating lease right-of-use assets | $ 14,396 | $ 6,045 |
Total leased assets | 14,396 | 6,045 |
Liabilities | ||
Short-term operating lease liabilities | 3,260 | 3,831 |
Long-term operating lease liabilities | 11,194 | 2,815 |
Total lease liabilities | $ 14,454 | $ 6,646 |
Weighted-average remaining lease term | 5 years 9 months 18 days | 2 years 2 months 12 days |
Weighted-average discount rate | 3.70% | 4.60% |
Operating Leases - Components o
Operating Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Lease Cost [Abstract] | |||
Operating lease costs | $ 3,861 | $ 3,947 | $ 2,796 |
Variable lease costs | 972 | 948 | 1,062 |
Total lease cost | $ 4,833 | $ 4,895 | $ 3,858 |
Operating Leases - Summary of_2
Operating Leases - Summary of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jul. 31, 2021 | Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Leases [Abstract] | ||||
Cash payments for operating leases | $ 3,945 | $ 3,343 | $ 2,148 | |
Operating Lease liability difference amount | $ 9,500 | $ 11,289 | $ 1,196 | $ 5,856 |
Operating Leases - Summary of M
Operating Leases - Summary of Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Operating Lease Liabilities Payments Due [Abstract] | ||
2023 | $ 3,188 | |
2024 | 3,175 | |
2025 | 2,840 | |
2026 | 1,662 | |
2027 | 1,684 | |
Thereafter | 3,555 | |
Total future minimum lease payments | 16,104 | |
Less: imputed interest | (1,650) | |
Present value of lease liabilities | $ 14,454 | $ 6,646 |
Stockholders' Equity - Schedule
Stockholders' Equity - Schedule of Common Stock Reserved for Issuance (Details) - shares | Jan. 31, 2022 | Jan. 31, 2021 |
Common Stock Reserved For Future Issuance [Line Items] | ||
Total shares of common stock reserved | 6,361 | 5,825 |
Restricted stock units outstanding | ||
Common Stock Reserved For Future Issuance [Line Items] | ||
Total shares of common stock reserved | 1,312 | 1,441 |
Options to purchase common stock | ||
Common Stock Reserved For Future Issuance [Line Items] | ||
Total shares of common stock reserved | 1,325 | 1,366 |
Shares available for future issuance under stock plans | ||
Common Stock Reserved For Future Issuance [Line Items] | ||
Total shares of common stock reserved | 2,354 | 1,887 |
Shares reserved under ESPP | ||
Common Stock Reserved For Future Issuance [Line Items] | ||
Total shares of common stock reserved | 1,370 | 1,131 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Details) $ / shares in Units, $ in Thousands, shares in Millions | 12 Months Ended | ||
Jan. 31, 2022USD ($)$ / sharesshares | Jan. 31, 2021USD ($)Period$ / sharesshares | Jan. 31, 2020USD ($)$ / sharesshares | |
Stockholders Equity Note Disclosure [Line Items] | |||
Number of shares of common stock issued under ESPP | shares | 0.2 | 0.2 | 0.2 |
ESPP | |||
Stockholders Equity Note Disclosure [Line Items] | |||
Percentage of eligible compensation subject to plan limitation | 15.00% | ||
Employee stock purchase plan offering period | 24 months | ||
Number of purchase periods | Period | 4 | ||
Purchase periods | 6 months | ||
Purchase price of common stock as percentage of fair market value | 85.00% | ||
Weighted average purchase price of shares of common stock under ESPP | $ / shares | $ 10.22 | $ 9.98 | $ 9.97 |
Stock Options | |||
Stockholders Equity Note Disclosure [Line Items] | |||
Employee stock option expiration period | 10 years | ||
Aggregate intrinsic value of vested options exercised | $ | $ 1,900 | $ 1,400 | $ 2,200 |
Weighted-average grant date fair value of options granted | $ / shares | $ 7.89 | $ 4.72 | $ 7.13 |
Stock Options | Maximum | |||
Stockholders Equity Note Disclosure [Line Items] | |||
Employee stock option vesting period | 4 years | ||
Restricted Stock Units (RSUs) | |||
Stockholders Equity Note Disclosure [Line Items] | |||
Payment for shares of common stock withheld for tax withholdings on vesting of RSUs | $ | $ 2,105 | $ 1,641 | $ 1,523 |
Restricted Stock Units (RSUs) | Maximum | |||
Stockholders Equity Note Disclosure [Line Items] | |||
Employee stock option vesting period | 4 years | ||
Restricted Stock Units (RSUs) | Minimum | |||
Stockholders Equity Note Disclosure [Line Items] | |||
Employee stock option vesting period | 1 year |
Stockholders' Equity - Summariz
Stockholders' Equity - Summarizes of Stock Option Activities (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Number of Shares | ||
Shares, Beginning balance | 1,366 | |
Shares, Granted | 120 | |
Shares, Exercised | (125) | |
Shares, Canceled | (36) | |
Shares, Ending balance | 1,325 | |
Shares, Vested and exercisable | 1,152 | |
Weighted Average Exercise Price Per Share | ||
Weighted Average Exercise Price Per Share, Beginning balance | $ 7.95 | |
Weighted Average Exercise Price Per Share, Granted | 16.28 | |
Weighted Average Exercise Price Per Share, Exercised | 3.81 | |
Weighted Average Exercise Price Per Share, Canceled | 13.79 | |
Weighted Average Exercise Price Per Share, Ending balance | 8.93 | |
Weighted Average Exercise Price Per Share, Vested and exercisable | $ 8.18 | |
Aggregate Intrinsic Value | ||
Aggregate Intrinsic Value | $ 12,064 | $ 7,803 |
Aggregate Intrinsic Value, Vested and exercisable | $ 11,363 |
Stockholders' Equity - Summar_2
Stockholders' Equity - Summarizes of Restricted Stock Units Activities (Details) - Restricted Stock Units (RSUs) | 12 Months Ended |
Jan. 31, 2022$ / sharesshares | |
Number of Shares | |
Shares, RSUs Beginning Balance | shares | 1,441 |
Shares, Granted | shares | 919 |
Shares, Vested | shares | (824) |
Shares, Canceled | shares | (224) |
Shares, RSUs Ending Balance | shares | 1,312 |
Weighted Average Grant-Date Fair Value Per Share | |
Weighted Average Grant-Date Fair Value Per Share, Beginning Balance | $ / shares | $ 12.54 |
Weighted Average Grant-Date Fair Value Per Share, Granted | $ / shares | 17.04 |
Weighted Average Grant-Date Fair Value Per Share, Vested | $ / shares | 13.19 |
Weighted Average Grant-Date Fair Value Per Share, Canceled | $ / shares | 13.93 |
Weighted Average Grant-Date Fair Value Per Share, Ending Balance | $ / shares | $ 15.05 |
Stock-Based Compensation - Tota
Stock-Based Compensation - Total Stock-Based Compensation Recognized for Stock-Based Awards in Consolidated Statements of Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | |||
Stock-based compensation | $ 12,682 | $ 12,275 | $ 12,761 |
Cost of revenue | |||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | |||
Stock-based compensation | 979 | 1,015 | 1,262 |
Sales and marketing | |||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | |||
Stock-based compensation | 1,856 | 1,910 | 1,929 |
Research and development | |||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | |||
Stock-based compensation | 4,216 | 4,267 | 4,610 |
General and administrative | |||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | |||
Stock-based compensation | $ 5,631 | $ 5,083 | $ 4,960 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Details) - USD ($) | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Income tax benefit related to stock-based compensation expense | $ 0 | $ 0 | $ 0 |
Unrecognized share-based compensation expense related to unvested share-based awards | $ 19,000,000 | ||
Stock Options | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Stock-based compensation expenses recognized on straight line basis offering period | 2 years 6 months | ||
Restricted Stock Units (RSUs) | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Stock-based compensation expenses recognized on straight line basis offering period | 2 years 6 months | ||
ESPP | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Stock-based compensation expenses recognized on straight line basis offering period | 2 years 6 months |
Stock-Based Compensation - Assu
Stock-Based Compensation - Assumptions Used to Estimate Fair Value of Employee Stock Options Grants and Employee Stock Purchase Plan Using Black-Scholes Option Pricing Model (Details) | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
ESPP | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Expected volatility, minimum | 41.00% | 46.00% | 40.00% |
Expected volatility, maximum | 58.00% | 83.00% | 51.00% |
Risk-free interest rate, minimum | 0.10% | 0.10% | 1.70% |
Risk-free interest rate, maximum | 0.20% | 0.40% | 2.50% |
ESPP | Minimum | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Expected term (in years) | 6 months | 6 months | 6 months |
ESPP | Maximum | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Expected term (in years) | 2 years | 2 years | 2 years |
Stock Options | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Expected volatility | 51.00% | 47.00% | 44.00% |
Expected term (in years) | 6 years 1 month 6 days | 6 years 1 month 6 days | 6 years 1 month 6 days |
Risk-free interest rate | 0.90% | 0.60% | 2.50% |
Income Taxes - Components of Lo
Income Taxes - Components of Loss Before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Income Tax Disclosure [Abstract] | |||
United States | $ 1,340 | $ (120) | $ (17,051) |
Foreign | (3,091) | (2,236) | (1,880) |
Loss before income taxes | $ (1,751) | $ (2,356) | $ (18,931) |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Income Tax Disclosure [Abstract] | |||
Federal tax at statutory rate | $ (368) | $ (495) | $ (3,975) |
State taxes, net of federal benefit | 52 | 75 | 12 |
Foreign income and withholding taxes | (185) | (87) | (98) |
Permanent tax adjustment | 58 | 163 | 114 |
Section 162(m) | 1,050 | 598 | 606 |
Stock-based compensation | (1,545) | (251) | (624) |
Change in valuation allowance | 2,959 | 185 | 5,445 |
Research and development credit | (1,980) | (243) | (1,279) |
Other | $ (41) | 140 | (331) |
Income tax provision (benefit) at effective tax rate | $ 85 | $ (130) | |
Federal tax at statutory rate, Rate | 21.00% | 21.00% | 21.00% |
State taxes, net of federal benefit, Rate | (3.00%) | (3.00%) | |
Foreign income and withholding taxes, Rate | 11.00% | 3.00% | 1.00% |
Permanent tax adjustment, Rate | (3.00%) | (7.00%) | (1.00%) |
Section 162(m), Rate | (60.00%) | (25.00%) | (3.00%) |
Stock-based compensation, Rate | 88.00% | 11.00% | 3.00% |
Change in valuation allowance, Rate | (169.00%) | (8.00%) | (29.00%) |
Research and development credit, Rate | 113.00% | 10.00% | 7.00% |
Other, Rate | 2.00% | (6.00%) | 2.00% |
Income tax provision (benefit) at effective tax rate, Rate | 0.00% | (4.00%) | 1.00% |
Income Taxes - Summary of Defer
Income Taxes - Summary of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2022 | Jan. 31, 2021 |
Deferred tax assets: | ||
Net operating loss carryforwards | $ 34,808 | $ 33,211 |
Tax credit carryover | 10,905 | 8,963 |
Operating lease right-of-use assets | 3,482 | 1,686 |
Stock-based compensation | 1,114 | 1,101 |
Acquired intangible assets | 256 | 53 |
Deferred revenue | 18 | 19 |
Other | 26 | 14 |
Gross deferred tax assets | 50,609 | 45,047 |
Valuation allowance | (45,111) | (42,153) |
Net deferred tax assets | 5,498 | 2,894 |
Deferred tax liabilities: | ||
Operating lease liabilities | (3,468) | (1,533) |
Accruals and reserves | (1,994) | (1,265) |
Fixed assets depreciation | (36) | (96) |
Gross deferred tax liabilities | $ (5,498) | $ (2,894) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Income Tax [Line Items] | |||
Net deferred tax asset, Increase in valuation allowance | $ 3,000,000 | $ 600,000 | |
Net operating loss carryforwards, expired | 2030 | ||
Deferred tax assets correction | 7,400,000 | ||
Unrecognized tax benefits | $ 8,090,000 | 6,642,000 | $ 6,017,000 |
Interest expense or penalties related to unrecognized tax benefits | $ 0 | $ 0 | $ 0 |
Research and Development | |||
Income Tax [Line Items] | |||
Federal tax credit, expired | 2030 | ||
Federal | |||
Income Tax [Line Items] | |||
Net operating loss carryforwards | $ 125,100,000 | ||
Federal | Research and Development | |||
Income Tax [Line Items] | |||
Tax credit carryforwards | 10,500,000 | ||
State | |||
Income Tax [Line Items] | |||
Net operating loss carryforwards | 94,800,000 | ||
State | Research and Development | |||
Income Tax [Line Items] | |||
Tax credit carryforwards | $ 9,800,000 |
Income Taxes - Summary of Activ
Income Taxes - Summary of Activity Related to Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2022 | Jan. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Beginning Balance | $ 6,642 | $ 6,017 |
Decrease related to prior year positions | (362) | |
Increase related to current year tax positions | 1,448 | 987 |
Ending Balance | $ 8,090 | $ 6,642 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Details) - USD ($) | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2022 | Jan. 31, 2021 | |
Commitments And Contingencies Disclosure [Line Items] | |||
Non-cancelable purchase commitments | $ 19,400,000 | $ 5,400,000 | |
Accrued liabilities for loss contingencies | 0 | $ 0 | |
Cumulative charges of litigation loss | $ 600,000 | ||
Non-Cancelable Service Agreement with Telecommunications Provider | Minimum | |||
Commitments And Contingencies Disclosure [Line Items] | |||
Non-cancelable purchase commitments between August 2021 and July 2022 | 600,000 | ||
Non-cancelable purchase commitments between August 2022 and July 2023 | 1,500,000 | ||
Non-cancelable purchase commitments between August 2023 and July 2024 | $ 2,500,000 |
Financing Arrangements - Additi
Financing Arrangements - Additional Information (Details) - Revolving Credit Facility - Credit Agreement - USD ($) | Aug. 01, 2021 | Jan. 08, 2021 | Jan. 31, 2022 | Jan. 31, 2021 |
Line Of Credit Facility [Line Items] | ||||
Credit agreement initiation date | Jan. 8, 2021 | |||
Maximum borrowing capacity | $ 45,000,000 | |||
Borrowing capacity description | On January 8, 2021, the Company, as borrower, entered into a three year credit and security agreement (“Credit Agreement”) with KeyBank National Association as Administrative Agent (“Agent”) and lender, and KeyBanc Capital Markets Inc. as sole lead arranger and sole book runner. The Credit Agreement provides for a secured revolving credit facility (“Credit Facility”) under which the Company may borrow up to an aggregate amount of $25.0 million, which includes a $10.0 million sub-facility for letters of credit. The Company and its lenders may increase the total commitments under the Credit Facility to up to an aggregate amount of $45.0 million, subject to certain conditions. Funds borrowed under the Credit Agreement may be used for working capital and other general corporate purposes. | |||
Credit agreement, Interest rate description | Loans under the Credit Agreement will bear interest, at the Company’s option, at either a rate equal to the “Base Rate” (as defined in the Credit Agreement) or (b) “Eurodollar Rate” (as defined in the Credit Agreement) plus 2.50%. The Base Rate is the highest of (i) the Agent’s prime rate, (ii) the federal funds effective rate plus 0.5%, and (iii) the Eurodollar Rate with an interest period of one month plus 1%. The Eurodollar Rate is the London Interbank Offered Rate with various interest periods as may be selected by the Company but shall not be less than 0.75%. Upon the occurrence of any event of default, the interest rate on any borrowings increases by 2.0%. The Credit Agreement also contains customary provisions for the replacement of the London Interbank Offered Rate/Eurodollar Rate. The Company is required to pay a commitment fee on the unused portion of the Credit Facility of 0.25% per annum. | |||
Line of Credit Facility, Commitment Fee Percentage | 0.25% | |||
Borrowing remaining capacity | $ 25,000,000 | |||
Borrowing capacity, Outstanding amount | $ 0 | |||
Maximum | ||||
Line Of Credit Facility [Line Items] | ||||
Borrowing capacity | 25,000,000 | |||
Maximum | Eurodollar Rate | ||||
Line Of Credit Facility [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | |||
Minimum | Eurodollar Rate | ||||
Line Of Credit Facility [Line Items] | ||||
Debt Instrument, Basis Spread on Variable Rate | 0.75% | |||
Letters of Credit | ||||
Line Of Credit Facility [Line Items] | ||||
Borrowing capacity | $ 10,000,000 |
Business Acquisitions - Additio
Business Acquisitions - Additional Information (Details) - USD ($) $ in Thousands | May 24, 2019 | Jan. 31, 2020 |
Business Acquisition [Line Items] | ||
Cash consideration transferred | $ 7,073 | |
Broadsmart Global, Inc. | ||
Business Acquisition [Line Items] | ||
Cash consideration transferred | $ 7,100 | |
Cash consideration transferred, net of cash assumed | 600 | |
Intangible assets | 6,107 | |
Broadsmart Global, Inc. | Customer relationships | ||
Business Acquisition [Line Items] | ||
Intangible assets | 5,800 | |
Broadsmart Global, Inc. | Trade names | ||
Business Acquisition [Line Items] | ||
Intangible assets | $ 300 |
Business Acquisitions - Summary
Business Acquisitions - Summary of Fair Values of Assets Acquired and Liabilities Assumed (Details) - Broadsmart Global, Inc. $ in Thousands | May 24, 2019USD ($) |
Business Acquisition [Line Items] | |
Cash | $ 649 |
Accounts receivable | 1,003 |
Other current and non-current assets | 639 |
Intangible assets | 6,107 |
Goodwill | 366 |
Accounts payable and other liabilities | (1,043) |
Net assets acquired | $ 7,721 |
Net Loss Per Share - Computatio
Net Loss Per Share - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Numerator | |||
Net loss | $ (1,751) | $ (2,441) | $ (18,801) |
Denominator | |||
Weighted-average common shares | 23,473,849 | 22,361,312 | 21,051,039 |
Basic and diluted net loss per share | $ (0.07) | $ (0.11) | $ (0.89) |
Net Loss Per Share - Additional
Net Loss Per Share - Additional Information (Details) - shares shares in Millions | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Earnings Per Share [Abstract] | |||
Potentially dilutive securities excluded from the computation of diluted net loss per share | 2.8 | 3.3 | 3.2 |
Retirement Plan - Additional In
Retirement Plan - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 31, 2022 | Jan. 31, 2021 | Jan. 31, 2020 | |
Compensation And Retirement Disclosure [Abstract] | |||
Employee contribution, percent of match | 50.00% | ||
Employer contribution, percent of match | 50.00% | ||
Employee maximum contribution percent of deferred salary amount | 6.00% | ||
Vesting percentage | 100.00% | ||
Matching contributions to the plan | $ 0.7 | $ 0.7 | $ 0.7 |