Balance Sheet Details

3 Months Ended

Mar. 31, 2026

Balance Sheet Related Disclosures [Abstract]

4. Balance Sheet Details

Cash, Cash Equivalents and Restricted Cash

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


	March 31, 2026		December 31, 2025
Cash and cash equivalents	$	265,772	$	120,863
Restricted cash		2,092		2,433
Total cash, cash equivalents and restricted cash	$	267,864	$	123,296

Restricted cash of $2.1 million and $2.4 million is included in other non-current assets on the condensed consolidated balance sheets as of March 31, 2026 and December 31, 2025, respectively.

Accounts Receivable

Accounts receivable consisted of the following (in thousands):


	March 31, 2026			December 31, 2025
Trade receivables	$	16,887		$	13,715
Less: allowance for expected credit losses		(250	)		(284	)
Accounts receivable, net	$	16,637		$	13,431

Inventory

Inventory consisted of the following (in thousands):


	March 31, 2026		December 31, 2025
Raw materials	$	9,395	$	8,631
Work-in-process		498		253
Finished goods		8,701		11,097
Total inventory	$	18,594	$	19,981

The Company recorded charges for excess and obsolete inventory of $0.7 million and $0.2 million for the three months ended March 31, 2026 and 2025, respectively.

Property and Equipment, net

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


	March 31, 2026			December 31, 2025
Laboratory and manufacturing equipment	$	34,345		$	35,383
Leasehold improvements		13,936			14,050
Computer equipment		2,296			2,303
Internal-use software		13,097			13,118
Office furniture and fixtures		1,636			1,683
Property and equipment, gross		65,310			66,537
Less: accumulated depreciation and amortization		(49,030	)		(48,162	)
Construction-in-progress		823			900
Property and equipment, net	$	17,103		$	19,275

Depreciation and amortization expense related to property and equipment was $1.4 million and $2.1 million for the three months ended March 31, 2026 and 2025, respectively.

Accrued Liabilities

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


	March 31, 2026		December 31, 2025
Accrued compensation and related benefits	$	4,994	$	18,146
Accrued legal fees		2,960		3,513
Uninvoiced receipts		870		941
Accrued restructuring		1,660		2,916
Accrued warranties		682		683
Accrued taxes		2,983		2,133
Other		1,535		1,451
Accrued liabilities	$	15,684	$	29,783