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Summary of Significant Accounting Policies (Tables)

12 Months Ended

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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