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7. FINANCIAL STATEMENT COMPONENTS (Tables) | 3 Months Ended
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Mar. 31, 2023
Financial Statement Components [Abstract] |
Components of Inventory | Inventory consists of the following:
(in thousands) |  | March 31, 2023 |  |  | December 31, 2022 |
Raw materials |  | $ | 1,627 |  |  | $ | 1,556 |
Work in process |  |  | 305 |  |  |  | — |
Finished goods |  |  | 1,184 |  |  |  | 305 |
|  | $ | 3,116 |  |  | $ | 1,861 |
Components of Property, Plant and Equipment | Property and equipment consists of the following:
(in thousands) |  | March 31, 2023 |  |  | December 31, 2022 |
Production equipment |  | $ | 6,140 |  |  | $ | 6,140 |
Leasehold improvements |  |  | 3,960 |  |  |  | 3,789 |
Computer hardware and software/lab equipment |  |  | 11,481 |  |  |  | 10,515 |
Office furniture and equipment |  |  | 5,370 |  |  |  | 1,804 |
|  |  | 26,951 |  |  |  | 22,248 |
Less: Accumulated depreciation |  |  | (16,667 | ) |  |  | (15,418 | )
|  | $ | 10,284 |  |  | $ | 6,830 |
Depreciation expense was $1.3 million and $229,000 for the three months ended March 31, 2023 and 2022, respectively.
Summary Of Components Of Intangible Assets | The components of intangible assets were as follows:
As of March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(in thousands) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Weighted Average Remaining Period (Years) |
Acquired technology |  | $ | 19,997 |  |  | $ | 1,120 |  |  | $ | 18,877 |  |  |  | 13 |
Backlog |  |  | 26 |  |  |  | — |  |  |  | 26 |  |  |  | 1 |
|  | $ | 20,023 |  |  | $ | 1,120 |  |  |  | 18,903 |  |  |  |  |
As of December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(in thousands) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Weighted Average Remaining Period (Years) |
Acquired technology |  | $ | 951 |  |  | $ | 876 |  |  | $ | 75 |  |  |  | 4 |
|  | $ | 951 |  |  | $ | 876 |  |  |  | 75 |  |  |  |  |
Estimated Future Amortization Expense Related to Intangible Assets | The following table outlines our estimated future amortization expense related to intangible assets held at March 31, 2023 by line item on the statement of operations (in thousands):
Years Ended December 31, |  | Cost of Revenue |  |  | Research and Development Expense |  |  | Total |
2023 |  | $ | 1,301 |  |  | $ | 24 |  |  | $ | 1,325 |
2024 |  |  | 1,541 |  |  |  | 22 |  |  |  | 1,563 |
2025 |  |  | 1,541 |  |  |  | 14 |  |  |  | 1,555 |
2026 |  |  | 1,541 |  |  |  | 7 |  |  |  | 1,548 |
Thereafter |  |  | 8,541 |  |  |  | — |  |  |  | 8,541 |
|  |  | 14,465 |  |  |  | 67 |  |  |  | 14,532 |

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