Financial Statement Details

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Inventories

Inventories consist of the following (in thousands):


	December 31,
	2023		2022
Finished goods	$	21,264	$	31,153
Raw materials and components	1,616		6,823
Total inventories	$	22,880	$	37,976

During the year ended December 31, 2023, the Company recorded a write-down of $9.6 million to reflect inventories at net realizable value, in addition to a $1.3 million write-off of capitalized inventory order fees. Further, management accrued an additional $6.8 million in net charges for contract manufacturing liabilities (whose remaining balance is accrued in the Accrued Expenses and Other Current Liabilities section below) related to excess materials at the contract manufacturers’ sites. All $17.7 million of these charges are recorded in product cost of revenues on the consolidated statement of operations.

Prepaid expenses and other

Prepaid expenses and other consists of the following (in thousands):


	December 31,
	2023		2022
Rebate receivables	$	1,950	$	2,038
Receivables from contract manufacturers	1,823		3,561



Other	1,438		2,379
Total prepaid expenses and other	$	5,211	$	7,978

Property, plant and equipment

Property, plant and equipment consists of the following (in thousands):


	December 31,
	2023		2022
Test equipment	$	19,717	$	19,724
Computer equipment and purchased software	4,590		4,603
Product tooling	5,153		5,007
Furniture and fixtures	1,331		1,214
Vehicles	115		119
Leasehold improvements	772		772
Total property, plant and equipment, gross	31,678		31,439
Less—accumulated depreciation and amortization	(28,920)		(26,049)
Total property, plant and equipment, net	$	2,758	$	5,390

Rental assets

Rental assets consist of the following (in thousands):


	December 31,
	2023		2022
Rental assets	$	12,086	$	10,300
Less—accumulated depreciation	(7,003)		(5,484)
Total rental assets	$	5,083	$	4,816

Depreciation and amortization

Depreciation and amortization expense related to property, plant and equipment, including rental assets and property, plant and equipment under finance leases, was $6.1 million and $7.1 million for the years ended December 31, 2023 and 2022, respectively.

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities consist of the following (in thousands):


	December 31,
	2023		2022
Royalties	$	845	$	992
Payroll and related expenses	4,159		8,873
Warranty obligations	480		480
Professional fees	310		738
Accrued interest	1,038		1,112
Deferred revenue	5,583		5,060
Customer advances	—		2,828
Operating lease liabilities	1,681		1,759
Accrued contract manufacturing liabilities	7,537		1,416
Value added tax payables	531		449
Other	4,858		4,238
Total accrued expenses and other current liabilities	$	27,022	$	27,945