Annual report pursuant to Section 13 and 15(d)

Balance Sheet Components (Tables)

v3.24.1
Balance Sheet Components (Tables)
12 Months Ended
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Accounts Receivable, Net
Accounts receivable, net consisted of the following:
December 31,
2023 2022
(In thousands)
Trade Receivables $ 10,203  $ 9,639 
Less: Allowances for Doubtful Accounts (620) (454)
Total $ 9,583  $ 9,185 
Schedule of Inventories
Inventories consisted of the following:
December 31,
2023 2022
(In thousands)
Raw materials $ 48,488  $ 58,585 
Work-in-progress 9,922  12,617 
Finished goods 2,406  — 
Total $ 60,816  $ 71,202 
The Company recorded $27.1 million in inventory reserves related to the valuation of inventory for the year ended December 31, 2023
Schedule of Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following:
December 31,
2023 2022
(In thousands)
Prepaid insurance and other $ 2,738  $ 3,316 
Vendor prepayments 1,262  2,217 
Total $ 4,000  $ 5,533 
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:
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:
December 31,
2023 2022
(In thousands)
Computers and software $ 2,549  $ 2,222 
Lab equipment and other equipment 8,075  7,379 
Furniture and fixtures 206  181 
Leasehold improvements 14,406  16,273 
Total property, plant and equipment 25,236  26,055 
Less accumulated depreciation and amortization (8,910) (6,243)
Property, plant and equipment, net $ 16,326  $ 19,812 
Schedule of Other Assets
Other assets consisted of the following:
December 31,
2023 2022
(In thousands)
Right of use assets $ 10,672  $ 13,545 
Net investment in sales-type lease —  $ 5,905 
Non-current prepaid expenses and other assets 1,993  $ 3,211 
Total Other assets $ 12,665  $ 22,661 
Schedule of Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
December 31,
2023 2022
(In thousands)
Accrued expenses $ 1,948  $ 8,602 
Accrued salaries and benefits 2,277  4,830 
Lease liability – current portion 2,266  2,445 
Total accrued expenses and other current liabilities $ 6,491  $ 15,877 
Schedule of Other Noncurrent Liabilities
Other noncurrent liabilities consisted of the following:
December 31,
2023 2022
(In thousands)
Lease liabilities - noncurrent portion $ 10,176  $ 12,206 
Other noncurrent liabilities 1,380  428 
Total other noncurrent liabilities $ 11,556  $ 12,634