Balance Sheet Components (Tables)
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12 Months Ended |
Dec. 31, 2023 |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
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| Schedule of Accounts Receivable, Net |
Accounts receivable, net consisted of the following:
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December 31, |
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2023 |
|
2022 |
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(In thousands) |
| Trade Receivables |
$ |
10,203 |
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|
$ |
9,639 |
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| Less: Allowances for Doubtful Accounts |
(620) |
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|
(454) |
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| Total |
$ |
9,583 |
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|
$ |
9,185 |
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| Schedule of Inventories |
Inventories consisted of the following:
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December 31, |
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2023 |
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2022 |
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(In thousands) |
| Raw materials |
$ |
48,488 |
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|
$ |
58,585 |
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| Work-in-progress |
9,922 |
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|
12,617 |
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| Finished goods |
2,406 |
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|
— |
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| Total |
$ |
60,816 |
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|
$ |
71,202 |
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The Company recorded $27.1 million in inventory reserves related to the valuation of inventory for the year ended December 31, 2023
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| Schedule of Prepaid Expenses and Other Current Assets |
Prepaid expenses and other current assets consisted of the following:
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December 31, |
|
2023 |
|
2022 |
|
(In thousands) |
| Prepaid insurance and other |
$ |
2,738 |
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|
$ |
3,316 |
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| Vendor prepayments |
1,262 |
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|
2,217 |
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| Total |
$ |
4,000 |
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|
$ |
5,533 |
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| Schedule of Property and Equipment, Net |
Property and equipment and equipment on lease are stated at cost, less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets, as follows:
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Estimated useful life |
Equipment on lease |
3 |
- |
5 years |
Computers and software |
1 |
- |
3 years |
Lab equipment and other equipment |
3 |
- |
7 years |
Furniture and fixtures |
3 |
- |
5 years |
Leasehold improvements |
Shorter of the remaining lease term or useful life of 10 years |
Property and equipment, net consisted of the following:
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December 31, |
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2023 |
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2022 |
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(In thousands) |
| Computers and software |
$ |
2,549 |
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|
$ |
2,222 |
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| Lab equipment and other equipment |
8,075 |
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|
7,379 |
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| Furniture and fixtures |
206 |
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|
181 |
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| Leasehold improvements |
14,406 |
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|
16,273 |
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| Total property, plant and equipment |
25,236 |
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|
26,055 |
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| Less accumulated depreciation and amortization |
(8,910) |
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|
(6,243) |
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| Property, plant and equipment, net |
$ |
16,326 |
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|
$ |
19,812 |
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| Schedule of Other Assets |
Other assets consisted of the following:
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December 31, |
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2023 |
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2022 |
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(In thousands) |
| Right of use assets |
$ |
10,672 |
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|
$ |
13,545 |
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| Net investment in sales-type lease |
— |
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|
$ |
5,905 |
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| Non-current prepaid expenses and other assets |
1,993 |
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|
$ |
3,211 |
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| Total Other assets |
$ |
12,665 |
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$ |
22,661 |
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| Schedule of Accrued Expenses and Other Current Liabilities |
Accrued expenses and other current liabilities consisted of the following:
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December 31, |
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2023 |
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2022 |
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(In thousands) |
| Accrued expenses |
$ |
1,948 |
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|
$ |
8,602 |
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| Accrued salaries and benefits |
2,277 |
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|
4,830 |
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| Lease liability – current portion |
2,266 |
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|
2,445 |
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| Total accrued expenses and other current liabilities |
$ |
6,491 |
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$ |
15,877 |
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| Schedule of Other Noncurrent Liabilities |
Other noncurrent liabilities consisted of the following:
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December 31, |
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2023 |
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2022 |
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(In thousands) |
| Lease liabilities - noncurrent portion |
$ |
10,176 |
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|
$ |
12,206 |
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| Other noncurrent liabilities |
1,380 |
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|
428 |
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| Total other noncurrent liabilities |
$ |
11,556 |
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$ |
12,634 |
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