• We recorded revenue of $80.9 million and $171.2 million for the three

• We recorded operating losses of $20.2 million and $30.7 million for

• We generated cash flows from operating activities of $33.0 million for

• As of July 31, 2022, we have invested $100.0 million of cash in money

We continually monitor the cost of our solutions. As we rely on third-party manufacturers for the manufacture of our products, we maintain a close relationship with these suppliers to continually monitor production yields, component costs and design efficiencies.

The following table sets forth a summary of our statement of operations for the periods indicated:

The following table sets forth operating results as a percentage of revenue of each line item for the periods indicated:

Cost of Revenue and Gross Margin

Other income, net, consists primarily of interests and yields from debt security investments and cash deposits with financial institutions, as well as miscellaneous subsidies granted from a foreign government.

Comparison of the Three and Six Months Ended July 31, 2022 and 2021

Cost of Revenue and Gross Margin

The quarterly income taxes reflect an estimate of the corresponding fiscal year's annual effective tax rate and include, when applicable, adjustments from discrete tax items arising in that quarter.

The following table summarizes our cash flows for the periods indicated:

Net cash provided by operating activities $ 33,003 $

Net Cash Provided by Operating Activities

Net Cash Provided by (Used in) Investing Activities

Net Cash Provided by Financing Activities

Operating and Capital Expenditure Requirements

Our short- term and long-term capital requirements will depend on many factors, including the following:

• the expansion of our research and development of new technologies and

• the magnitude and duration of COVID-19 impact, as well as measures

• our acquisition of complementary businesses, products and technologies.

Contractual Obligations, Commitments and Contingencies

As of July 31, 2022, we had purchase obligations with our independent contract manufacturers of $68.3 million.

See Note 1 of Notes to Condensed Consolidated Financial Statements for information regarding recently issued accounting pronouncements.

Critical Accounting Policies and Significant Management Estimates

There have been no material changes to our critical accounting policies and estimates as compared to the critical accounting policies and estimates described in our Annual Report on Form 10-K for the 2022 fiscal year filed with the SEC on April 1, 2022.

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