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Supplemental Consolidated Balance Sheet Information | 6 Months Ended
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Jun. 30, 2022
Disclosure Text Block Supplement [Abstract] |
Supplemental Consolidated Balance Sheet Information | Note 3 – Supplemental Consolidated Balance Sheet Information Accounts Receivable Accounts receivable consisted of the following as of June 30, 2022 and December 31, 2021:
(In thousands) |  | June 30, 2022 |  |  | December 31, 2021 |
Accounts receivable, gross |  | $ | 13,208 |  |  | $ | 8,637 |
Less allowance for doubtful accounts |  |  | (2,740 | ) |  |  | (1,415 | )
Accounts receivable, net |  | $ | 10,468 |  |  | $ | 7,222 |
NEIA, a related party, accounted for $2.4 million and $3.5 million of the Company’s accounts receivable, net as of June 30, 2022 and December 31, 2021, respectively. The changes in the allowance for doubtful accounts consisted of the following:
(In thousands) |  | Six Months ended June 30, 2022 |  |  | Year ended December 31, 2021 |
Allowance for doubtful accounts - beginning of period |  | $ | 1,415 |  |  | $ | 54 |
Provision for doubtful accounts |  |  | 1,553 |  |  |  | 1,187 |
Other adjustments |  |  | (228 | ) |  |  | 174 |
Allowance for doubtful accounts - end of period |  | $ | 2,740 |  |  | $ | 1,415 |
Bad debt expense was $1.6 million and $0 for the three months ended June 30, 2022 and 2021, respectively, and $1.6 million and $0 for the six months ended June 30, 2022 and 2021, respectively. Prepaid Expenses and Other Current Receivables Prepaid expenses and other current receivables consisted of the following as of June 30, 2022 and December 31, 2021:
(In thousands) |  | June 30, 2022 |  |  | December 31, 2021 |
Prepaid insurance |  | $ | 1,645 |  |  | $ | 492 |
Prepaid materials |  |  | 208 |  |  |  | — |
Prepaid software |  |  | 210 |  |  |  | 173 |
Prepaid expenses, other |  |  | 772 |  |  |  | 541 |
Deferred costs |  |  | — |  |  |  | 353 |
Deferred issuance costs, net |  |  | 908 |  |  |  | — |
Other note receivables (1) |  |  | 1,612 |  |  |  | 807 |
Other receivables, other |  |  | 570 |  |  |  | 86 |
Total prepaid expenses and other current assets |  | $ | 5,925 |  |  | $ | 2,452 |
(1) | Other note receivables relate to the current portion of one of its loan receivable balances related to the total turn-key solution (“TTK Solution”) program.
Property and Equipment, Net Property and equipment, net consisted of the following as of June 30, 2022 and December 31, 2021:
(In thousands) |  | June 30, 2022 |  |  | December 31, 2021 |
Computer and office equipment |  | $ | 572 |  |  | $ | 473 |
Furniture and fixtures |  |  | 505 |  |  |  | 385 |
Leasehold improvements |  |  | 1,000 |  |  |  | 841 |
Machinery and equipment |  |  | 990 |  |  |  | 898 |
Software |  |  | 308 |  |  |  | 174 |
Vehicles |  |  | 143 |  |  |  | 143 |
Research and development of laboratory equipment |  |  | 254 |  |  |  | 163 |
Leased equipment at customer |  |  | 602 |  |  |  | 619 |
Trade show assets |  |  | 80 |  |  |  | 80 |
Total property and equipment, gross |  |  | 4,454 |  |  |  | 3,776 |
Accumulated depreciation |  |  | (1,530 | ) |  |  | (780 | )
Construction in progress |  |  | 9,008 |  |  |  | 3,236 |
Total property and equipment, net |  | $ | 11,932 |  |  | $ | 6,232 |
Depreciation expense for the three months ended June 30, 2022 and 2021 was $438 thousand and $109 thousand, respectively, and $817 thousand and $199 thousand for the six months ended June 30, 2022 and 2021, respectively. Other Non-Current Assets Other non-current assets consisted of the following as of June 30, 2022 and December 31, 2021:
(In thousands) |  | June 30, 2022 |  |  | December 31, 2021 |
Deferred debt issuance costs, non-current, net |  | $ | 1,514 |  |  | $ | — |
Long-term deferred commissions expense |  |  | 1,244 |  |  |  | 1,101 |
Security deposits |  |  | 162 |  |  |  | 83 |
Total other non-current assets |  | $ | 2,920 |  |  | $ | 1,184 |
Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following as of June 30, 2022 and December 31, 2021:
(In thousands) |  | June 30, 2022 |  |  | December 31, 2021 |
Accrued acquisition liability (1) |  | $ | 10,579 |  |  | $ | 9,198 |
Sales tax payable (2) |  |  | 5,724 |  |  |  | 5,290 |
Accrued construction costs |  |  | 5,155 |  |  |  | 8,803 |
Compensation related fees |  |  | 3,180 |  |  |  | 3,491 |
Accrued professional fees |  |  | 1,348 |  |  |  | 1,104 |
Accrued warranty costs |  |  | 579 |  |  |  | 398 |
Accrued consulting fees |  |  | 133 |  |  |  | 75 |
Accrued inventory purchases |  |  | 586 |  |  |  | 201 |
Financing lease liabilities |  |  | 166 |  |  |  | 156 |
Accrued non-income taxes |  |  | — |  |  |  | 48 |
Other current liabilities |  |  | 6 |  |  |  | — |
Total accrued expenses and other current liabilities |  | $ | 27,456 |  |  | $ | 28,764 |
(1) | Accrued acquisition liabilities include both the contingent consideration and the value of held back Common Stock associated with the 2022 acquisition of Lab Society and the 2021 acquisitions of Precision, Cascade and PurePressure.
(2) | Sales tax payable primarily represents identified sales and use tax liabilities arising from the acquisition of Precision and Cascade. These amounts are included as part of the initial purchase price allocations and are the subject matter of an indemnification claim under the Precision and Cascade acquisition agreement.
Warranty Accrual The following table summarizes the activity related to the Company’s accrued liability for estimated future warranty costs:
(In thousands) |  | Six Months ended June 30, 2022 |  |  | Year ended December 31, 2021 |
Warranty accrual – beginning of period |  | $ | 398 |  |  | $ | — |
Liabilities accrued for warranties issued during period |  |  | 181 |  |  |  | 398 |
Warranty accrual – end of period |  | $ | 579 |  |  | $ | 398 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI https://asc.fasb.org/topic&trid=2122208 + Details
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