Intangible Assets, Net
 12 Months Ended
Jan. 31, 2022
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net

6. Intangible Assets, net

As of January 31, 2022, the intangible assets primarily consist of intangible assets acquired from Oculii, including developed technology, customer relationships and trade name. The intangible assets also include IPR&D reclassified from an indefinite-lived asset to a finite-lived asset and software licenses. In the third quarter of fiscal year 2022, the Company determined that the underlying project incorporating the IPR&D from the prior acquisition of VisLab S.r.l., or VisLab, was completed. As a result, the $4.1 million of IPR&D was reclassified as definite-lived developed technology and started amortization over its estimated economic life of 7 years.   

The Company enters into certain software license agreements with third parties from time-to-time. The software licenses consist of noncancelable on premise internal-use software and software with alternative use that is to be sold, leased or otherwise marketed as part of a product. The licenses have been capitalized as intangible assets, and the corresponding future payments have been recorded as liabilities at net present value. As of January 31, 2022, $6.0 million was recorded in accrued and other current liabilities and $1.7 million was recorded in other long-term liabilities in the consolidated balance sheets.

The components of intangible assets as of January 31, 2022 and 2021 were as follows:

 

 

 

As of January 31, 2022

 

 

As of January 31, 2021

 

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Carrying Amount

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Carrying Amount

 

 

 

(in thousands)

 

In-process research and development

 

$

—

 

 

$

—

 

 

$

—

 

 

$

4,100

 

 

$

—

 

 

$

4,100

 

Developed technology

 

 

21,200

 

 

 

(904

)

 

 

20,296

 

 

 

—

 

 

 

—

 

 

 

—

 

Customer relationships

 

 

13,200

 

 

 

(367

)

 

 

12,833

 

 

 

—

 

 

 

—

 

 

 

—

 

Trade name

 

 

2,500

 

 

 

(89

)

 

 

2,411

 

 

 

—

 

 

 

—

 

 

 

—

 

Software licenses

 

 

22,093

 

 

 

(11,331

)

 

 

10,762

 

 

 

21,043

 

 

 

(6,440

)

 

 

14,603

 

Total intangible assets, net

 

$

58,993

 

 

$

(12,691

)

 

$

46,302

 

 

$

25,143

 

 

$

(6,440

)

 

$

18,703

 

 

 During the twelve months ended January 31, 2022, there was approximately $1.5 million of software licenses retired. The amortization expense associated with these intangible assets was approximately $7.8 million, $6.5 million, and $5.9 million for the fiscal years ended January 31, 2022, 2021 and 2020 respectively. The expected annual amortization expense related to these intangible assets as of January 31, 2022 is as follows:

 

 

 

 

As of

 

 

 

January 31, 2022

 

Fiscal Year

 

(in thousands)

 

2023

 

$

11,927

 

2024

 

 

8,176

 

2025

 

 

5,216

 

2026

 

 

4,853

 

2027

 

 

4,852

 

Thereafter

 

 

11,278

 

Total future amortization expenses:

 

$

46,302

 

 

 

The Company is required to test the impairment prior to changing the IPR&D from an indefinite-lived asset to a finite-lived asset. There were no intangible asset impairments for the fiscal years ended January 31, 2022, 2021 and 2020, respectively.