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Balance Sheet Details | 6 Months Ended
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Jun. 30, 2025
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet Details | 5. Bala nce Sheet Details Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash consisted of the following (in thousands):
|  | June 30, 2025 |  |  | December 31, 2024 |
Cash and cash equivalents |  | $ | 158,617 |  |  | $ | 166,728 |
Restricted cash |  |  | 2,587 |  |  |  | 2,090 |
Total cash, cash equivalents and restricted cash |  | $ | 161,204 |  |  | $ | 168,818 |
Restricted cash of $2.6 million and $2.1 million is included in other non-current assets on the condensed consolidated balance sheets as of June 30, 2025 and December 31, 2024, respectively. Accounts Receivable Accounts receivable consisted of the following (in thousands):
|  | June 30, 2025 |  |  | December 31, 2024 |
Trade receivables |  | $ | 14,964 |  |  | $ | 15,001 |
Less: allowance for expected credit losses |  |  | (352 | ) |  |  | (260 | )
Accounts receivable, net |  | $ | 14,612 |  |  | $ | 14,741 |
Inventory Inventory consisted of the following (in thousands):
|  | June 30, 2025 |  |  | December 31, 2024 |
Raw materials |  | $ | 9,808 |  |  | $ | 13,041 |
Work-in-process |  |  | 414 |  |  |  | 443 |
Finished goods |  |  | 13,948 |  |  |  | 7,260 |
Total inventory |  | $ | 24,170 |  |  | $ | 20,744 |
The Company recorded charges for excess and obsolete inventory of $1.4 million and $1.9 million for the six months ended June 30, 2025 and 2024, respectively. Property and Equipment, net Property and equipment, net consisted of the following (in thousands):
|  | June 30, 2025 |  |  | December 31, 2024 |
Laboratory and manufacturing equipment |  | $ | 35,932 |  |  | $ | 35,405 |
Leasehold improvements |  |  | 14,070 |  |  |  | 13,749 |
Computer equipment |  |  | 2,331 |  |  |  | 6,207 |
Internal-use software |  |  | 13,163 |  |  |  | — |
Office furniture and fixtures |  |  | 1,691 |  |  |  | 1,651 |
Property and equipment, gross |  |  | 67,187 |  |  |  | 57,012 |
Less: accumulated depreciation and amortization |  |  | (44,982 | ) |  |  | (40,265 | )
Construction-in-progress |  |  | 473 |  |  |  | 6,028 |
Property and equipment, net |  | $ | 22,678 |  |  | $ | 22,775 |
Depreciation and amortization expense related to property and equipment was $2.0 million and $1.0 million for the three months ended June 30, 2025 and 2024, respectively, and $4.1 million and $2.0 million for the six months ended June 30, 2025 and 2024, respectively. Accrued Liabilities Accrued liabilities, which are included in current liabilities on the condensed consolidated balance sheets consisted of the following (in thousands):
|  | June 30, 2025 |  |  | December 31, 2024 |
Accrued legal fees |  | $ | 10,389 |  |  | $ | 2,051 |
Accrued compensation and related benefits |  |  | 10,059 |  |  |  | 10,040 |
Accrued warranties |  |  | 1,021 |  |  |  | 1,165 |
Accrued restructuring |  |  | 708 |  |  |  | 1,581 |
Uninvoiced receipts |  |  | 889 |  |  |  | 1,940 |
Other |  |  | 1,141 |  |  |  | 4,658 |
Accrued liabilities |  | $ | 24,207 |  |  | $ | 21,435 |

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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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