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Balance Sheet Components (Tables)
3 Months Ended
Mar. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
Schedule of Inventories, Net of Reserves

Inventories, net of reserves of $12 thousand and $4 thousand as of March 31, 2025 and December 31, 2024, respectively, consisted of the following components (in thousands):

 

 

March 31, 2025

 

 

December 31, 2024

 

Raw materials

 

$

1,169

 

 

$

794

 

Work in progress

 

 

3,428

 

 

 

2,929

 

Finished goods

 

 

3,281

 

 

 

2,614

 

Inventories, net

 

$

7,878

 

 

$

6,337

 

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):

 

 

March 31, 2025

 

 

December 31, 2024

 

Withholding individual income tax on Employee Stock Options

 

$

4,304

 

(1)

$

 

Accrued payroll and welfare

 

 

4,234

 

 

 

4,765

 

Payable to PPE & intangible asset suppliers

 

 

3,260

 

 

 

1,219

 

Payable to selling expense suppliers

 

 

2,542

 

 

 

900

 

Accrued expenses - general and administrative

 

 

1,076

 

 

 

1,005

 

Accrued sales discount

 

 

699

 

 

 

908

 

Accrued expenses - research and development

 

 

528

 

 

 

57

 

Accrued professional services

 

 

227

 

 

 

667

 

Deferred government grants

 

 

95

 

 

 

95

 

Employee reimbursement

 

 

3

 

 

 

737

 

Other accrued liabilities

 

 

271

 

 

 

262

 

Accrued expenses and other current liabilities

 

$

17,239

 

 

$

10,615

 

 

(1)
This amount represents individual income tax withheld on employee stock option exercises, payable to the tax authorities on behalf of employees.
Schedule of Accounts and Note Receivable, Net

Accounts and note receivables, net consisted of the following (in thousands):

 

 

March 31, 2025

 

 

December 31, 2024

 

Accounts receivable

 

$

20,547

 

 

$

19,798

 

Note receivable

 

 

2,138

 

 

 

4,373

 

Allowance for credit losses

 

 

(397

)

 

 

(209

)

Accounts and note receivables, net

 

$

22,288

 

 

$

23,962

 

Schedule of Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):

 

 

March 31, 2025

 

 

December 31, 2024

 

Buildings

 

$

19,006

 

 

$

18,980

 

Construction in progress

 

 

249

 

 

 

222

 

Machinery and electronic devices

 

 

9,495

 

 

 

9,442

 

Furniture and fixtures

 

 

662

 

 

 

653

 

Motor vehicles

 

 

183

 

 

 

182

 

Property and equipment, gross

 

 

29,595

 

 

 

29,479

 

Less: Accumulated depreciation

 

 

(6,077

)

 

 

(5,599

)

Property and equipment, net

 

$

23,518

 

 

$

23,880