Balance Sheets Components

6 Months Ended

Jun. 30, 2021

Balance Sheet Related Disclosures [Abstract]

Note 4. Balance Sheet Components

Accounts Receivable, net

Accounts receivable, net consisted of the following:

	As of
	June 30, 2021			December 31, 2020
	(in thousands)
Accounts receivable, gross	$	25,320		$	23,970
Allowance for credit losses		(50	)		(50	)
Accounts receivable, net	$	25,270		$	23,920

Inventories

Inventories consisted of the following:

	As of
	June 30, 2021		December 31, 2020
	(in thousands)
Raw materials	$	1,619	$	435
Work in progress		13,567		10,184
Finished goods		3,308		1,731
Total inventories	$	18,494	$	12,350

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:

	As of
	June 30, 2021		December 31, 2020
	(in thousands)
Advance to suppliers	$	339	$	853
Prepaid expenses		1,700		1,074
Other current assets		805		722
Total prepaid expenses and other current assets	$	2,844	$	2,649

Property and Equipment, Net

Property and equipment, net consisted of the following:

	As of
	June 30, 2021			December 31, 2020
	(in thousands)
Lab and manufacturing equipment	$	32,024		$	21,958
Computer Equipment		1,494			1,121
Furniture and fixtures		292			237
Construction in progress		638			638
Leasehold improvements		4,783			4,134
		39,231			28,088
Accumulated depreciation		(18,459	)		(16,380	)
Total property and equipment, net	$	20,772		$	11,708

Depreciation expense related to property and equipment was $1.4 million, $2.5 million, $0.8 million, and $1.7 million for the three and six months ended June 30, 2021 and 2020, respectively.

Intangible Assets, Net

Intangible assets, net consisted of the following:

	As of
	June 30, 2021							December 31, 2020
	(in thousands)
	Gross Assets		Accumulated Amortization			Net Assets		Gross Assets		Accumulated Amortization			Net Assets
	(in thousands)
Internal use software	$	9,434	$	(8,504	)	$	930	$	9,377	$	(8,312	)	$	1,065
Purchased intangibles		7,067		(5,522	)		1,545		5,663		(4,659	)		1,004
Intangible assets	$	16,501	$	(14,026	)	$	2,475	$	15,040	$	(12,971	)	$	2,069

Amortization expense for intangible assets was $0.5 million, $1.0 million, $0.9 million, and $2.0 million for the three and six months ended June 30, 2021 and 2020, respectively. In the three and six months ended June 30, 2020, the Company recorded impairment charges of $0.2 million related to cost of software that was in process of development for internal use.

As of June 30, 2021, the Company had $0.8 million of intangibles that were still in development stage and were not being amortized. The estimated aggregate future amortization expense for intangible assets in development stage and subject to amortization as of June 30, 2021 is summarized as below:

	(in thousands)
2021 (remainder)	$	759
2022		816
2023		479
2024		196
2025 and beyond		224
	$	2,475

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	As of
	June 30, 2021		December 31, 2020
	(in thousands)
Accrued payroll and related benefits	$	5,142	$	5,362
Price adjustment and other revenue reserves		3,850		3,063
Short term lease liability		1,086		1,264
Other accrued expenses		3,729		3,274
Total accrued expenses and other current liabilities	$	13,807	$	12,963