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Balance Sheet Components | 3 Months Ended
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Mar. 31, 2024
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet Components |
4. | Balance Sheet Components
Inventories, net Inventories, net of reserves of $3,000 and $46,000 as of March 31, 2024 and December 31, 2023, respectively, consisted of the following components (in thousands):
|  | March 31, 2024 |  |  | December 31, 2023 |
Raw materials |  | $ | 724 |  |  | $ | 919 |
Work in progress |  |  | 2,532 |  |  |  | 1,997 |
Finished goods |  |  | 1,683 |  |  |  | 1,365 |
Inventories, net |  | $ | 4,939 |  |  | $ | 4,281 |
The provision for inventory and write-downs for the periods ended March 31, 2024 and December 31, 2023 were immaterial. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands):
| March 31, 2024 |  |  | December 31, 2023 |
Accrued payroll and welfare | $ | 5,930 |  |  | $ | 5,790 |
Accrued expenses - selling expenses |  | 1,734 |  |  |  | 44 |
Supplier reimbursement |  | 997 |  |  |  | 2,247 |
Accrued sales discount |  | 912 |  |  |  | 903 |
Accrued expenses - general and administrative |  | 601 |  |  |  | 1,190 |
Accrued professional services |  | 251 |  |  |  | 837 |
Accrued expenses - research and development |  | 236 |  |  |  | 161 |
Deferred government grants |  | 40 |  |  |  | 40 |
Employee reimbursement |  | 27 |  |  |  | 648 |
Other accrued liabilities |  | 39 |  |  |  | 75 |
Accrued expenses and other current liabilities | $ | 10,767 |  |  | $ | 11,935 |
Accounts and Note Receivables, Net Accounts and note receivables, net consisted of the following (in thousands):
|  | March 31, 2024 |  |  | December 31, 2023 |
Accounts receivable |  | $ | 15,209 |  |  | $ | 15,204 |
Note receivable |  |  | 356 |  |  |  | 389 |
Allowance for credit losses |  |  | (107 | ) |  |  | (41 | )
Allowance and note receivables, net |  | $ | 15,458 |  |  | $ | 15,552 |
Property and Equipment, Net Property and equipment, net consisted of the following (in thousands):
|  | March 31, 2024 |  |  | December 31, 2023 |
Buildings |  | $ | 12,294 |  |  | $ | 12,289 |
Construction in progress |  |  | 8,420 |  |  |  | 7,875 |
Machinery and electronic devices |  |  | 6,732 |  |  |  | 6,598 |
Furniture and fixtures |  |  | 605 |  |  |  | 606 |
Motor vehicles |  |  | 185 |  |  |  | 185 |
Property and equipment, gross |  |  | 28,236 |  |  |  | 27,553 |
Less: Accumulated depreciation |  |  | (4,672 | ) |  |  | (4,265 | )
Property and equipment, net |  | $ | 23,564 |  |  | $ | 23,288 |

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- References No definition available. + Details
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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//210/tableOfContent + Details
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