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Balance Sheet Details (Tables)
9 Months Ended
Sep. 30, 2024
Balance Sheet Related Disclosures [Abstract]  
Schedule of Cash and Cash Equivalents

Cash, cash equivalents and restricted cash consisted of the following (in thousands):

 

 

 

September 30, 2024

 

 

December 31, 2023

 

Cash and cash equivalents

 

$

210,647

 

 

$

51,704

 

Restricted cash

 

 

1,291

 

 

 

795

 

Total cash, cash equivalents and restricted cash

 

$

211,938

 

 

$

52,499

 

Schedule of Accounts Receivable

Accounts receivable consisted of the following (in thousands):

 

 

 

September 30, 2024

 

 

December 31, 2023

 

Trade receivables

 

$

35,337

 

 

$

19,972

 

Royalty receivable, current

 

 

435

 

 

 

 

Other receivables

 

 

173

 

 

 

 

Less: allowance for expected credit losses

 

 

(628

)

 

 

(312

)

Accounts receivable, net

 

$

35,317

 

 

$

19,660

 

Schedule of Inventories

Inventory consisted of the following (in thousands):

 

 

 

September 30, 2024

 

 

December 31, 2023

 

Raw materials

 

$

49,953

 

 

$

12,140

 

Work-in-process

 

 

1,558

 

 

 

282

 

Finished goods

 

 

9,082

 

 

 

8,111

 

Total inventory

 

 

60,593

 

 

 

20,533

 

Inventory, current

 

 

42,644

 

 

 

20,533

 

Inventory, non-current (1)

 

$

17,949

 

 

$

 

 

(1)
The value of inventory that is not expected to be used within 12 months of the balance sheet date is classified as non-current inventory on the condensed consolidated balance sheets.
Schedule of Property and Equipment, Net

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

 

 

 

September 30, 2024

 

 

December 31, 2023

 

Laboratory and manufacturing equipment

 

$

59,785

 

 

$

35,563

 

Leasehold improvements

 

 

17,400

 

 

 

13,785

 

Computer equipment

 

 

7,845

 

 

 

6,232

 

Internal-use software

 

 

16,870

 

 

 

 

Office furniture and fixtures

 

 

3,482

 

 

 

1,762

 

Property and equipment, gross

 

 

105,382

 

 

 

57,342

 

Less accumulated depreciation and amortization

 

 

(69,623

)

 

 

(35,489

)

Construction-in-progress

 

 

6,223

 

 

 

2,334

 

Property and equipment, net

 

$

41,982

 

 

$

24,187

 

Accrued Liabilities

Accrued liabilities, which are included in current liabilities on the condensed consolidated balance sheets consisted of the following (in thousands):

 

 

 

September 30, 2024

 

 

December 31, 2023

 

Accrued compensation and related benefits

 

$

14,390

 

 

$

12,052

 

Loss contingency accruals

 

 

4,262

 

 

 

 

Accrued warranties

 

 

1,874

 

 

 

2,593

 

Accrued restructuring

 

 

2,541

 

 

 

825

 

Uninvoiced receipts

 

 

1,354

 

 

 

1,516

 

Other

 

 

7,265

 

 

 

4,033

 

Accrued liabilities

 

$

31,686

 

 

$

21,019