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Balance Sheets Components | 12 Months Ended
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Dec. 31, 2021
Balance Sheet Related Disclosures [Abstract] |
Balance Sheets Components | 4. Balance Sheets Components Accounts Receivable, net Accounts receivable, net consisted of the following:
|  | As of |
|  | December 31, 2021 |  |  | December 31, 2020 |
|  | (in thousands) |
Accounts receivable, gross |  | $ | 38,426 |  |  | $ | 23,970 |
Allowance for credit losses |  |  | (50 | ) |  |  | (50 | )
Accounts receivable, net |  | $ | 38,376 |  |  | $ | 23,920 |
Inventory Inventory consisted of the following:
|  | As of |
|  | December 31, 2021 |  |  | December 31, 2020 |
|  | (in thousands) |
Raw materials |  | $ | 1,841 |  |  | $ | 435 |
Work in progress |  |  | 16,963 |  |  |  | 10,184 |
Finished goods |  |  | 4,826 |  |  |  | 1,731 |
Total inventories |  | $ | 23,630 |  |  | $ | 12,350 |
Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following:
|  | As of |
|  | December 31, 2021 |  |  | December 31, 2020 |
|  | (in thousands) |
Advance to suppliers |  | $ | — |  |  | $ | 853 |
Prepaid expenses |  |  | 2,398 |  |  |  | 1,074 |
Other current assets |  |  | 2,078 |  |  |  | 722 |
Total prepaid and other current assets |  | $ | 4,476 |  |  | $ | 2,649 |
Property and Equipment, Net Property and equipment, net consisted of the following:
|  | As of |
|  | December 31, 2021 |  |  | December 31, 2020 |
|  | (in thousands) |
Lab and manufacturing equipment |  | $ | 44,283 |  |  | $ | 21,958 |
Computer equipment |  |  | 1,977 |  |  |  | 1,121 |
Furniture and fixtures |  |  | 433 |  |  |  | 237 |
Construction in progress |  |  | 7,100 |  |  |  | 638 |
Leasehold improvements |  |  | 5,211 |  |  |  | 4,134 |
|  |  | 59,004 |  |  |  | 28,088 |
Accumulated depreciation |  |  | (21,102 | ) |  |  | (16,380 | )
Total property and equipment, net |  | $ | 37,902 |  |  | $ | 11,708 |
Depreciation expense related to property and equipment was $5.7 million, $3.7 million, and $3.3 million for the years ended December 31, 2021, 2020 and 2019, respectively. Intangible Assets, Net Intangible assets, net consisted of the following:
|  | As of |
|  | December 31, 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 |  |  | $ | (8,633 | ) |  | $ | 801 |  |  | $ | 9,377 |  |  | $ | (8,312 | ) |  | $ | 1,065 |
Purchased intangibles |  |  | 11,703 |  |  |  | (6,527 | ) |  |  | 5,176 |  |  |  | 5,663 |  |  |  | (4,659 | ) |  |  | 1,004 |
Intangible assets |  | $ | 21,137 |  |  | $ | (15,160 | ) |  | $ | 5,977 |  |  | $ | 15,040 |  |  | $ | (12,971 | ) |  | $ | 2,069 |
Amortization expense for intangible assets was $2.2 million, $2.7 million, and $4.9 million, for the years ended December 31, 2021, 2020 and 2019, respectively. During the year ended December 31, 2021, the Company purchased and capitalized software costs of $6.0 million to support research and development efforts. During the year ended December 31, 2020, the Company recorded impairment charges of $1.0 million related to capitalized cost of software that was within the development phase and was being developed solely to meet the Company’s internal needs. The impairment charge was recorded as research and development expense in the consolidated statement of operations. As of December 31, 2021 and 2020, the Company had $0.8 million and $0.7 million, respectively, 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 December 31, 2021 is summarized as below:
|  | As of |
|  | December 31, 2021 |
|  | (in thousands) |
2022 |  | $ | 2,277 |
2023 |  |  | 2,207 |
2024 |  |  | 1,311 |
2025 |  |  | 168 |
2026 |  |  | 14 |
|  | $ | 5,977 |
Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following:
|  | As of |
|  | December 31, 2021 |  |  | December 31, 2020 |
|  | (in thousands) |
Accrued payroll and related benefits |  | $ | 7,237 |  |  | $ | 5,362 |
Deferred non-recurring engineering services |  |  | 5,666 |  |  |  | - |
Revenue reserves |  |  | 4,517 |  |  |  | 3,063 |
Short term lease liability |  |  | 1,336 |  |  |  | 1,264 |
Accrued customer rebates |  |  | 784 |  |  |  | 380 |
Other accrued expenses |  |  | 4,742 |  |  |  | 2,894 |
Total accrued expenses and other current liabilities |  | $ | 24,282 |  |  | $ | 12,963 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
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