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Other Balance Sheet Information | 12 Months Ended
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Dec. 31, 2023
Balance Sheet Related Disclosures [Abstract] |
Other Balance Sheet Information | NOTE 5. OTHER BALANCE SHEET INFORMATION Inventory consisted of the following.
|  | As of |
|  | December 31, 2023 |  |  | December 31, 2022 |
Finished Goods |  | $ | 41,206 |  |  | $ | 74,276 |
Raw Materials |  |  | 369 |  |  |  | 1,449 |
Total inventory |  | $ | 41,575 |  |  | $ | 75,725 |
The Company writes-down inventory for any excess or obsolete inventories or when the Company believes the net realizable value of inventories is less than the carrying value. During the years ended December 31, 2023 and 2022, the Company recorded write-downs of $2,837 and $117, respectively. Prepaid expenses and other current assets consisted of the following.
|  | As of |
|  | December 31, 2023 |  |  | December 31, 2022 |
Prepaid expenses |  | $ | 7,144 |  |  | $ | 5,042 |
Other current assets |  |  | 2,215 |  |  |  | 4,140 |
Total prepaid expenses and other current assets |  | $ | 9,359 |  |  | $ | 9,182 |
Property and equipment, net consisted of the following.
|  | As of |
|  | December 31, 2023 |  |  | December 31, 2022 |
Computer hardware |  | $ | 2,242 |  |  | $ | 2,192 |
Leasehold improvements |  |  | 717 |  |  |  | 698 |
Warehouse and other equipment |  |  | 748 |  |  |  | 632 |
Furniture and fixtures |  |  | 146 |  |  |  | 163 |
Property and equipment |  |  | 3,853 |  |  |  | 3,685 |
Less: Accumulated depreciation |  |  | (2,453 | ) |  |  | (1,616 | )
Total property and equipment, net |  | $ | 1,400 |  |  | $ | 2,069 |
Depreciation and amortization expense on all property, plant and equipment was $837, $816 and $463 during the years ended December 31, 2023, 2022 and 2021, respectively. Intangible assets, net consisted of the following.
|  | As of |
|  | December 31, 2023 |  |  | December 31, 2022 |
|  | Gross |  |  | Accumulated Amortization |  |  | Net |  |  | Gross |  |  | Accumulated Amortization |  |  | Net |
Customer relationships |  | $ | 22,990 |  |  | $ | (4,001 | ) |  | $ | 18,989 |  |  | $ | 22,990 |  |  | $ | (1,778 | ) |  | $ | 21,212 |
Developed technology |  |  | 10,600 |  |  |  | (2,911 | ) |  |  | 7,689 |  |  |  | 10,600 |  |  |  | (1,440 | ) |  |  | 9,160 |
Trade name |  |  | 900 |  |  |  | (329 | ) |  |  | 571 |  |  |  | 900 |  |  |  | (149 | ) |  |  | 751 |
Total intangible assets, net |  | $ | 34,490 |  |  | $ | (7,241 | ) |  | $ | 27,249 |  |  | $ | 34,490 |  |  | $ | (3,367 | ) |  | $ | 31,123 |
Amortization expense on all intangible assets was $3,874 and $3,367 for the years ended December 31, 2023 and 2022, respectively. There was no amortization expense for the year ended December 31, 2021 as the assets were acquired on December 31, 2021 or thereafter. Total future amortization for finite-lived intangible assets is estimated as follows.
|  | Amortization Expense |
2024 |  | $ | 3,873 |
2025 |  |  | 3,873 |
2026 |  |  | 3,873 |
2027 |  |  | 3,734 |
2028 |  |  | 3,693 |
Thereafter |  |  | 8,203 |
Total |  | $ | 27,249 |
Other long-term assets consisted of the following.
|  | As of |
|  | December 31, 2023 |  |  | December 31, 2022 |
Capitalized software costs, net |  | $ | 5,632 |  |  | $ | 3,066 |
Operating lease - ROU asset, net |  |  | 2,550 |  |  |  | 3,968 |
Investment in non-affiliate |  |  | 2,250 |  |  |  | - |
Restricted cash, long-term portion |  |  | - |  |  |  | 247 |
Other long-term assets |  |  | 1,816 |  |  |  | 2,240 |
Total other long-term assets |  | $ | 12,248 |  |  | $ | 9,521 |
Amortization expense on capitalized research and development costs was $822 and $79 for the years ended December 31, 2023 and 2022, respectively, which is primarily related to capitalized software costs and was recorded in research and development expenses on the Consolidated Statements of Operations and Comprehensive Loss. There was no such amortization expense recorded during the year ended December 31, 2021. In December 2023, the Company invested $2,250 in a non-affiliated, privately held entity, under a Simple Agreement for Future Equity ("SAFE") agreement. The non-affiliated entity provides support and consultation for consumers looking to manage and upgrade the technology within their home. The Company’s investment in the SAFE is recorded using the cost method of accounting and included under other long-term assets on the Consolidated Balance Sheets, as it is not readily convertible into cash. If the Company identifies factors that may be indicative of impairment the Company will review the investment for impairment. For the year ended December 31, 2023, the Company did not identify any factors indicative of impairment. Accrued expenses and other current liabilities consisted of the following.
|  | As of |
|  | December 31, 2023 |  |  | December 31, 2022 |
Accrued compensation costs |  | $ | 10,272 |  |  | $ | 14,157 |
Accrued expenses |  |  | 6,674 |  |  |  | 8,571 |
Warranty allowance |  |  | 2,215 |  |  |  | 2,277 |
Other |  |  | 5,815 |  |  |  | 9,391 |
Total accrued expenses and other current liabilities |  | $ | 24,976 |  |  | $ | 34,396 |

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