| Balance Sheet Components |
Balance Sheet Components Accounts Receivable, Net
Accounts receivable, net consisted of the following:
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December 31, |
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2022 |
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2021 |
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(In thousands) |
| Trade Receivables |
$ |
9,639 |
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|
$ |
12,845 |
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| Less: Allowances for Doubtful Accounts |
(454) |
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(67) |
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| Total |
$ |
9,185 |
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$ |
12,778 |
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Inventories
Inventories consisted of the following:
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December 31, |
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2022 |
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2021 |
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(In thousands) |
| Raw materials |
$ |
58,585 |
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|
$ |
16,594 |
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| Work-in-progress |
12,617 |
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|
5,885 |
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| Total |
$ |
71,202 |
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|
$ |
22,479 |
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Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following:
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December 31, |
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2022 |
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2021 |
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(In thousands) |
| Prepaid insurance and other |
$ |
3,316 |
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|
$ |
5,326 |
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| Vendor prepayments |
2,217 |
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|
4,132 |
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| Total |
$ |
5,533 |
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|
$ |
9,458 |
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Property and Equipment, Net
Property and equipment, net consisted of the following:
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December 31, |
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2022 |
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2021 |
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(In thousands) |
| Computers and software |
$ |
2,222 |
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$ |
1,397 |
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| R&D lab equipment |
7,379 |
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|
2,283 |
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| Furniture and fixtures |
181 |
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|
88 |
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| Leasehold improvements |
16,273 |
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|
2,771 |
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| Construction in progress |
— |
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|
6,273 |
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| Total property, plant and equipment |
26,055 |
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|
12,812 |
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| Less accumulated depreciation and amortization |
(6,243) |
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(2,766) |
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| Property, plant and equipment, net |
$ |
19,812 |
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|
$ |
10,046 |
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Depreciation expense for the years ended December 31, 2022 and 2021 was $3.6 million and $1.2 million, respectively.
Other Assets
Other assets consisted of the following:
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December 31, |
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2022 |
|
2021 |
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(In thousands) |
| Right of use assets |
$ |
13,545 |
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|
$ |
11,073 |
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| Net investment in sales-type lease |
6,554 |
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$ |
2,500 |
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| Non-current prepaid expenses and other assets |
3,211 |
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$ |
2,658 |
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| Total Other assets |
$ |
23,310 |
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$ |
16,231 |
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Accrued Expenses & Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
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December 31, |
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2022 |
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2021 |
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(In thousands) |
| Accrued expenses |
$ |
8,602 |
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|
$ |
3,015 |
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| Accrued salaries and benefits |
4,830 |
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|
4,143 |
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| Lease liability – current portion |
2,445 |
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|
2,256 |
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| Total Accrued expenses and other current liabilities |
$ |
15,877 |
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$ |
9,414 |
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Other Noncurrent Liabilities
Other noncurrent liabilities consisted of the following:
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December 31, |
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2022 |
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2021 |
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(In thousands) |
| Lease liabilities - noncurrent portion |
12,206 |
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|
9,184 |
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| Other noncurrent liabilities |
428 |
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|
308 |
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| Total other noncurrent liabilities |
$ |
12,634 |
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$ |
9,492 |
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See Note 12, Equity Instruments, for further details of the contingent earnout liability and warrant liabilities.
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