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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2020
Accounting Policies [Abstract] |
Schedule of fair value valuation | The key assumptions used in the Black-Scholes option-pricing model for the valuation of the preferred stock warrant liability upon re-measurement were as follows:
| Year Ended December 31, 2018
Expected term (in years) | 2.0
Fair value of underlying shares | $19.02
Volatility | 55.0%
Risk-free interest rate | 2.48%
Dividend yield | —
Schedule of changes in fair value | The following table sets forth a summary of the changes in the fair value of the preferred and common stock warrant liabilities:
|  |  |  | Year Ended December 31, 2019
(in thousands) |  |  |
Beginning balance |  |  |  | $ | 1,918 |
Fair value of warrants issued during the period |  |  |  | — |
Change in fair value of warrant liability |  |  |  | 12,503 |
Reclassification of warrant liability to additional paid-in capital in connection with the IPO |  |  |  | (14,421) |
Ending balance |  |  |  | $ | — |
Schedule of property, plant, and equipment | Property, plant and equipment are carried at cost less accumulated depreciation and are depreciated using the straight-line method over the following estimated useful lives:
Land |  | Not amortized
Buildings |  | 30 years
Leasehold improvements |  | Shorter of lease term or estimated useful life
Furniture and fixtures |  | 3 years
Manufacturing equipment |  | 5 to 10 years
Research and development equipment |  | 5 to 10 years
Software and computer equipment |  | 3 years
Vehicles |  | 5 years
A summary of property, plant, and equipment as of December 31, 2020 and 2019, is as follows:
|  | December 31,
(in thousands) |  | 2020 |  | 2019
Manufacturing equipment |  | $ | 62,521 |  |  | $ | 37,939 |
Research and development equipment |  | 12,342 |  |  | 8,933 |
Leasehold improvements |  | 9,277 |  |  | 7,620 |
Building |  | 12,569 |  |  | — |
Finance leases |  | 212 |  |  | 1,108 |
Software |  | 402 |  |  | 274 |
Furniture and fixtures |  | 614 |  |  | 433 |
Vehicles |  | 377 |  |  | 210 |
Land |  | 3,995 |  |  | — |
Assets not yet placed in service |  | 46,148 |  |  | 11,666 |
Total property, plant and equipment |  | $ | 148,457 |  |  | $ | 68,183 |
Less: accumulated depreciation and amortization |  | 33,158 |  |  | 20,709 |
Property, plant and equipment, net |  | $ | 115,299 |  |  | $ | 47,474 |
Summary of disaggregation of revenue | Effective January 1, 2020, the Company began presenting net revenues by geography and distribution channel as follows:
Distribution Channel |  | Description
U.S. Retail |  | Net revenues from retail sales to the U.S. market(1)
U.S. Foodservice |  | Net revenues from restaurant and foodservice sales to the U.S. market
International Retail |  | Net revenues from retail sales to international markets, including Canada
International Foodservice |  | Net revenues from restaurant and foodservice sales to international markets, including Canada
____________ (1) Includes net revenues from direct-to-consumer sales. The following table presents the Company’s net revenues by channel:
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
(in thousands) |  |  |  |  |  |
U.S.: |  |  |  |  |  |
Retail |  | $ | 264,111 |  |  | $ | 129,383 |  |  | $ | 49,772 |
Foodservice |  | 60,763 |  |  | 70,372 |  |  | 20,717 |
U.S. net revenues |  | 324,874 |  |  | 199,755 |  |  | 70,489 |
International: |  |  |  |  |  |
Retail |  | 36,472 |  |  | 15,426 |  |  | 1,007 |
Foodservice |  | 45,439 |  |  | 82,716 |  |  | 16,438 |
International net revenues |  | 81,911 |  |  | 98,142 |  |  | 17,445 |
Net revenues |  | $ | 406,785 |  |  | $ | 297,897 |  |  | $ | 87,934 |

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