• We recorded revenue of $83.1 million and $254.3 million for the three

• We generated cash flows from operating activities of $39.0 million for

• In the second quarter of fiscal year 2023, we resumed our investments

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

Cost of revenue includes the cost of materials, such as wafers processed by third-party foundries, costs associated with packaging, assembly and testing, and our manufacturing support operations, such as logistics, planning and quality assurance. Cost of revenue also includes indirect costs, such as warranty, inventory valuation reserves, adverse purchase commitments, amortization of developed technology and other general overhead costs.

Provision (Benefit) for Income Taxes

Comparison of the Three and Nine Months Ended October 31, 2022 and 2021

Cost of Revenue and Gross Margin

Provision (Benefit) for Income Taxes

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 the quarter.

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

Net cash provided by operating activities $ 39,003 $

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

• global economic and political conditions, including higher inflation

• our acquisition of complementary businesses, products and technologies.

Contractual Obligations, Commitments and Contingencies

As of October 31, 2022, we had purchase obligations with our independent contract manufacturers of $47.9 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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