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FINANCIAL STATEMENT COMPONENTS (Tables) | 3 Months Ended
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Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
COMPONENTS OF INVENTORY | Inventory consists of the following: COMPONENTS OF INVENTORY
|  | March 31, |  |  | December 31, |
(in thousands) |  | 2024 |  |  | 2023 |
Raw materials |  | $ | 1,709 |  |  | $ | 1,574 |
Work in process |  |  | - |  |  |  | 305 |
Finished goods |  |  | 2,029 |  |  |  | 1,995 |
Total inventory |  | $ | 3,738 |  |  | $ | 3,874 |
COMPONENTS OF PROPERTY, PLANT AND EQUIPMENT | Property and equipment consists of the following: COMPONENTS OF PROPERTY, PLANT AND EQUIPMENT
|  | March 31, |  |  | December 31, |
(in thousands) |  | 2024 |  |  | 2023 |
Production equipment |  | $ | 6,140 |  |  | $ | 6,140 |
Leasehold improvements |  |  | 3,962 |  |  |  | 3,843 |
Computer hardware and software/lab equipment |  |  | 12,200 |  |  |  | 12,149 |
Office furniture and equipment |  |  | 5,235 |  |  |  | 5,367 |
Property and equipment, gross |  |  | 27,537 |  |  |  | 27,499 |
Less: Accumulated depreciation |  |  | (18,988 | ) |  |  | (18,467 | )
Property and equipment, net |  | $ | 8,549 |  |  | $ | 9,032 |
SUMMARY OF COMPONENTS OF INTANGIBLE ASSETS | The components of intangible assets were as follows: SUMMARY OF COMPONENTS OF INTANGIBLE ASSETS
|  | Gross |  |  |  |  |  | Net |  |  | Weighted Average |
As of March 31, 2024 |  | Carrying |  |  | Accumulated |  |  | Carrying |  |  | Remaining |
(in thousands) |  | Amount |  |  | Amortization |  |  | Amount |  |  | Period (Years) |
Acquired technology |  | $ | 20,172 |  |  | $ | 3,510 |  |  | $ | 16,662 |  |  |  | 11 |
Backlog |  |  | 26 |  |  |  | 26 |  |  |  | - |  |  |  | - |
|  | $ | 20,198 |  |  | $ | 3,536 |  |  | $ | 16,662 |  |  |  |  |
|  | Gross |  |  |  |  |  | Net |  |  | Weighted Average |
As of December 31, 2023 |  | Carrying |  |  | Accumulated |  |  | Carrying |  |  | Remaining |
(in thousands) |  | Amount |  |  | Amortization |  |  | Amount |  |  | Period (Years) |
Acquired technology |  | $ | 20,172 |  |  | $ | 2,940 |  |  | $ | 17,232 |  |  |  | 12 |
Backlog |  |  | 26 |  |  |  | 23 |  |  |  | 3 |  |  |  | - |
|  | $ | 20,198 |  |  | $ | 2,963 |  |  | $ | 17,235 |  |  |  |  |
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, 2024 by line item on the statement of operations (in thousands): ESTIMATED FUTURE AMORTIZATION EXPENSE RELATED TO INTANGIBLE ASSETS
|  |  |  |  | Research and |  |  |  |
|  | Cost of |  |  | Development |  |  |  |
Years Ended December 31, |  | Revenue |  |  | Expense |  |  | Total |
2024 (remainder of the year) |  | $ | 1,161 |  |  | $ | 396 |  |  | $ | 1,557 |
2025 |  |  | 1,548 |  |  |  | 53 |  |  |  | 1,601 |
2026 |  |  | 1,548 |  |  |  | 24 |  |  |  | 1,572 |
2027 |  |  | 1,508 |  |  |  | - |  |  |  | 1,508 |
Thereafter |  |  | 10,424 |  |  |  | - |  |  |  | 10,424 |
Total |  | $ | 16,189 |  |  | $ | 473 |  |  | $ | 16,662 |

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