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Balance Sheet Components (Tables) | 6 Months Ended
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Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Cash and Cash Equivalents | The Company’s cash and cash equivalents consist of the following (in thousands):
| June 30, 2024 |  | December 31, 2023
Cash | $ | 34,323 |  |  | $ | 40,648 |
Cash equivalents: |  |  |
Money market funds(1) | 18,364 |  |  | 7,354 |
Commercial paper | — |  |  | 2,989 |
Total cash and cash equivalents | $ | 52,687 |  |  | $ | 50,991 |
(1)The Company maintains a cash sweep account, which is included in money market funds as of June 30, 2024 and December 31, 2023. Cash is invested in short-term money market funds that earn interest. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the unaudited condensed consolidated balance sheets to the amounts reported in the unaudited condensed consolidated statements of cash flows (in thousands):
| June 30, 2024 |  | June 30, 2023
Cash and cash equivalents | $ | 52,687 |  |  | $ | 91,237 |
Restricted cash, current | 426 |  |  | 528 |
Restricted cash, non-current | 1,092 |  |  | 1,090 |
Total cash, cash equivalents and restricted cash | $ | 54,205 |  |  | $ | 92,855 |
Schedule of Inventory | Inventory, consisting of material, direct and indirect labor, and manufacturing overhead, consists of the following (in thousands):
| June 30, 2024 |  | December 31, 2023
Raw materials | $ | 10,033 |  |  | $ | 10,062 |
Work in process | 62 |  |  | 75 |
Finished goods | 9,358 |  |  | 13,095 |
Total inventory | $ | 19,453 |  |  | $ | 23,232 |
Schedule of Prepaid Expenses and Other Current Assets | Prepaid expenses and other current assets consist of the following (in thousands):
| June 30, 2024 |  | December 31, 2023
Prepaid expenses | $ | 5,720 |  |  | $ | 5,377 |
Prepaid insurance | 1,334 |  |  | 648 |
Receivable from contract manufacturer | 2,193 |  |  | 2,028 |
Insurance receivable | 23,375 |  |  | 23,375 |
Other current assets | 908 |  |  | 3,219 |
Total prepaid expenses and other current assets | $ | 33,530 |  |  | $ | 34,647 |
Schedule of Property, Plant and Equipment | Property and equipment consists of the following (in thousands):
| Estimated Useful Life (in years) |  | June 30, 2024 |  | December 31, 2023
Machinery and equipment | 3 |  | $ | 15,836 |  |  | $ | 16,535 |
Computer equipment | 3 |  | 1,104 |  |  | 1,104 |
Automotive and vehicle hardware | 5 |  | 93 |  |  | 22 |
Software | 3 |  | 590 |  |  | 593 |
Furniture and fixtures | 7 |  | 943 |  |  | 946 |
Construction in progress |  |  | 4,988 |  |  | 3,572 |
Leasehold improvements | Shorter of useful life or lease term |  | 10,910 |  |  | 10,879 |
|  |  | 34,464 |  |  | 33,651 |
Less: Accumulated depreciation |  |  | (25,019) |  |  | (23,423) |
Property and equipment, net |  |  | $ | 9,445 |  |  | $ | 10,228 |
Schedule of Finite-Lived Intangible Assets | The following tables present acquired intangible assets, net as of June 30, 2024 and December 31, 2023 (in thousands):
|  |  | June 30, 2024
| Estimated Useful Life (in years) |  | Gross Carrying amount |  | Accumulated Amortization |  | Net Book Value
Developed technology | 3-8 |  | $ | 23,500 |  |  | $ | (7,868) |  |  | $ | 15,632 |
Vendor relationship | 3 |  | 6,600 |  |  | (5,867) |  |  | 733 |
Customer relationships | 3-8 |  | 6,300 |  |  | (1,735) |  |  | 4,565 |
Intangible assets, net |  |  | $ | 36,400 |  |  | $ | (15,470) |  |  | $ | 20,930 |
|  |  | December 31, 2023
| Estimated Useful Life (in years) |  | Gross Carrying amount |  | Accumulated Amortization |  | Net Book Value
Developed technology | 3-8 |  | $ | 23,500 |  |  | $ | (5,948) |  |  | $ | 17,552 |
Vendor relationship | 3 |  | 6,600 |  |  | (4,767) |  |  | 1,833 |
Customer relationships | 3-8 |  | 6,300 |  |  | (1,249) |  |  | 5,051 |
Intangible assets, net |  |  | $ | 36,400 |  |  | $ | (11,964) |  |  | $ | 24,436 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The following table summarizes estimated future amortization expense of finite-lived intangible assets-net (in thousands):
Years: | Amount
2024 (the remainder of 2024) | $ | 3,101 |
2025 | 4,515 |
2026 | 3,776 |
2027 | 3,682 |
2028 | 2,779 |
Thereafter | 3,077 |
Total | $ | 20,930 |
Schedule of Accrued and Other Current Liabilities | Accrued and other current liabilities consist of the following (in thousands):
| June 30, 2024 |  | December 31, 2023
Accrued legal contingencies | $ | 23,375 |  |  | $ | 27,500 |
Uninvoiced receipts | 8,707 |  |  | 12,980 |
Accrued compensation | 5,581 |  |  | 6,387 |
Sales and use tax | 2,124 |  |  | 2,667 |
Other | 8,719 |  |  | 8,632 |
Total accrued and other current liabilities | $ | 48,506 |  |  | $ | 58,166 |

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