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Balance Sheets Components | 3 Months Ended
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Mar. 31, 2022
Balance Sheet Related Disclosures [Abstract] |
Balance Sheets Components | Note 4. Balance Sheet Components Accounts Receivable, net Accounts receivable, net consisted of the following:
|  | As of |
|  | March 31, 2022 |  |  | December 31, 2021 |
|  | (in thousands) |
Accounts receivable, gross |  | $ | 30,701 |  |  | $ | 38,426 |
Allowance for credit losses |  |  | (50 | ) |  |  | (50 | )
Accounts receivable, net |  | $ | 30,651 |  |  | $ | 38,376 |
Inventories Inventories consisted of the following:
|  | As of |
|  | March 31, 2022 |  |  | December 31, 2021 |
|  | (in thousands) |
Raw materials |  | $ | 3,848 |  |  | $ | 1,841 |
Work in progress |  |  | 19,945 |  |  |  | 16,963 |
Finished goods |  |  | 6,960 |  |  |  | 4,826 |
Total inventories |  | $ | 30,753 |  |  | $ | 23,630 |
Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following:
|  | As of |
|  | March 31, 2022 |  |  | December 31, 2021 |
|  | (in thousands) |
Prepaid expenses |  | $ | 3,078 |  |  | $ | 2,398 |
Other current assets |  |  | 1,812 |  |  |  | 2,078 |
Total prepaid expenses and other current assets |  | $ | 4,890 |  |  | $ | 4,476 |
Property and Equipment, Net Property and equipment, net consisted of the following:
|  | As of |
|  | March 31, 2022 |  |  | December 31, 2021 |
|  | (in thousands) |
Lab and manufacturing equipment |  | $ | 51,527 |  |  | $ | 44,283 |
Computer Equipment |  |  | 2,095 |  |  |  | 1,977 |
Furniture and fixtures |  |  | 433 |  |  |  | 433 |
Construction in progress |  |  | 7,883 |  |  |  | 7,100 |
Leasehold improvements |  |  | 5,438 |  |  |  | 5,211 |
|  |  | 67,376 |  |  |  | 59,004 |
Accumulated depreciation |  |  | (23,165 | ) |  |  | (21,102 | )
Total property and equipment, net |  | $ | 44,211 |  |  | $ | 37,902 |
Depreciation expense related to property and equipment was $2.1 million and $1.1 million for the three months ended March 31, 2022 and 2021, respectively. Intangible Assets, Net Intangible assets, net consisted of the following:
|  | As of |
|  | March 31, 2022 |  |  | December 31, 2021 |
|  | (in thousands) |
|  | Gross Assets |  |  | Accumulated Amortization |  |  | Net Assets |  |  | Gross Assets |  |  | Accumulated Amortization |  |  | Net Assets |
Internal use software |  | $ | 9,434 |  |  | $ | (8,633 | ) |  | $ | 801 |  |  | $ | 9,434 |  |  | $ | (8,633 | ) |  | $ | 801 |
Purchased intangibles |  |  | 10,438 |  |  |  | (6,846 | ) |  |  | 3,592 |  |  |  | 11,703 |  |  |  | (6,527 | ) |  |  | 5,176 |
Intangible assets |  | $ | 19,872 |  |  | $ | (15,479 | ) |  | $ | 4,393 |  |  | $ | 21,137 |  |  | $ | (15,160 | ) |  | $ | 5,977 |
Amortization expense for intangible assets was $0.3 million and $0.5 million for the three months ended March 31, 2022 and 2021, respectively. As of March 31, 2022, the Company had $0.8 million of intangibles that were still in development stage and were not being amortized, with the amortization beginning in May 2022. The estimated aggregate future amortization expense for intangible assets in development stage and subject to amortization as of March 31, 2022 is summarized as below:
|  | (in thousands) |
2022 (remainder) |  | $ | 1,359 |
2023 |  |  | 1,786 |
2024 |  |  | 1,025 |
2025 |  |  | 195 |
2026 and beyond |  |  | 28 |
|  | $ | 4,393 |
Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following:
|  | As of |
|  | March 31, 2022 |  |  | December 31, 2021 |
|  | (in thousands) |
Accrued payroll and related benefits |  | $ | 3,711 |  |  | $ | 7,237 |
Revenue reserves |  |  | 5,424 |  |  |  | 4,517 |
Deferred non-recurring engineering services |  |  | 4,739 |  |  |  | 5,666 |
Short term lease liability |  |  | 2,109 |  |  |  | 1,336 |
Accrued customer rebates |  |  | — |  |  |  | 784 |
Other accrued expenses |  |  | 5,582 |  |  |  | 4,742 |
Total accrued expenses and other current liabilities |  | $ | 21,565 |  |  | $ | 24,282 |
For the three months ended March 31, 2022, the Company recorded $2.0 million as a reduction of research and development expenses related to non-recurring engineering service arrangements in the condensed consolidated statement of operations. There was no reduction of research and development expenses recorded during the three months ended March 31, 2021.

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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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