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Balance Sheet Details | 12 Months Ended
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Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet Details | 5. Balance Sheet Details Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash consisted of the following (in thousands):
|  | December 31, 2023 |  |  | December 31, 2022 |
Cash and cash equivalents |  | $ | 51,704 |  |  | $ | 81,309 |
Restricted cash |  |  | 795 |  |  |  | 1,015 |
Total cash, cash equivalents and restricted cash |  | $ | 52,499 |  |  | $ | 82,324 |
Restricted cash of $0.8 and $1.0 million is included in other non-current assets on the consolidated balance sheets as of December 31, 2023 and 2022, respectively. Inventories, net Inventories, net consisted of the following (in thousands):
|  | December 31, 2023 |  |  | December 31, 2022 |
Raw materials |  | $ | 15,539 |  |  | $ | 16,866 |
Work-in-process |  |  | 282 |  |  |  | 945 |
Finished goods |  |  | 11,753 |  |  |  | 15,245 |
Total inventory, gross |  |  | 27,574 |  |  |  | 33,056 |
Allowance for excess and obsolete inventory |  |  | (7,041 | ) |  |  | (11,583 | )
Total inventories, net |  | $ | 20,533 |  |  | $ | 21,473 |
Property and Equipment, net Property and equipment, net consisted of the following (in thousands):
|  | December 31, 2023 |  |  | December 31, 2022 |
Laboratory and manufacturing equipment |  | $ | 35,563 |  |  | $ | 33,329 |
Leasehold improvements |  |  | 13,785 |  |  |  | 12,234 |
Computer equipment and software |  |  | 6,232 |  |  |  | 5,793 |
Office furniture and fixtures |  |  | 1,762 |  |  |  | 1,713 |
Property and equipment, gross |  |  | 57,342 |  |  |  | 53,069 |
Less accumulated depreciation and amortization |  |  | (35,489 | ) |  |  | (29,029 | )
Construction-in-progress |  |  | 2,334 |  |  |  | 1,612 |
Property and equipment, net |  | $ | 24,187 |  |  | $ | 25,652 |
Depreciation expense was $3.4 million and $2.8 million for the years ended December 31, 2023 and 2022, respectively. Accrued Compensation and Related Benefits Accrued compensation and related benefits, which are included in current liabilities on the consolidated balance sheets consisted of the following (in thousands):
|  | December 31, 2023 |  |  | December 31, 2022 |
Accrued incentive compensation |  | $ | 7,337 |  |  | $ | 1,170 |
Accrued vacation |  |  | 2,711 |  |  |  | 2,795 |
Accrued payroll taxes and other |  |  | 994 |  |  |  | 1,174 |
Accrued restructuring |  |  | 825 |  |  |  | 4,014 |
Accrued compensation and related benefits |  | $ | 11,867 |  |  | $ | 9,153 |
Refer to Note 14 for additional information on restructuring. Other Accrued Liabilities Other accrued liabilities, which are included in current liabilities on the consolidated balance sheets consisted of the following (in thousands):
|  | December 31, 2023 |  |  | December 31, 2022 |
Accrued commissions |  | $ | 1,010 |  |  | $ | 800 |
Accrued interest |  |  | 295 |  |  |  | 318 |
Accrued legal expenses |  |  | 964 |  |  |  | 349 |
Accrued taxes |  |  | 1,230 |  |  |  | 1,443 |
Uninvoiced receipts |  |  | 1,516 |  |  |  | 1,078 |
Accrued warranties |  |  | 2,593 |  |  |  | 678 |
Customer advances |  |  | 447 |  |  |  | 577 |
Accrued restructuring |  |  | — |  |  |  | 19 |
Accrued other |  |  | 1,097 |  |  |  | 913 |
Other accrued liabilities |  | $ | 9,152 |  |  | $ | 6,175 |
Deferred Grant Income In September 2020, the Company executed a contract with the National Institutes of Health (NIH) under NIH’s Rapid Acceleration of Diagnostics program to support the expansion of the Company’s production capacity for its COVID-19 test products. Under the now-completed contract, the Company received $34.0 million of funding from the NIH and used $22.2 million on capital expenditures for their Singapore manufacturing facility. The amortization of the deferred income, which is offset against depreciation, was $3.6 million and $3.5 million for the years ended December 31, 2023 and 2022, respectively. Cumulative amounts amortized and offsetting against depreciation expense for these assets placed in service were $7.8 million and $4.2 million as of December 31, 2023 and 2022, respectively, and the carrying values of these assets were $14.4 million and $18.0 million, respectively, as of these same dates. The current portion of deferred grant income on the Company’s consolidated balance sheets represents amounts expected to be offset against depreciation expense over the next twelve months. The non-current portion of deferred grant income includes amounts expected to be offset against depreciation expense in later periods.

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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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