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Balance Sheet Components | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2024 | Dec. 31, 2023
Balance Sheet Components |  |
Balance Sheet Components | 6.Balance Sheet Components Inventory Inventories consists of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, |  | December 31,
​ | ​ | 2024 | ​ | 2023
Raw materials | ​ | $ | 414 | ​ | $ | 448
Work-in-process |  | ​ | 498 |  | ​ | 601
Finished goods |  | ​ | 872 |  | ​ | 437
Total inventory | ​ | $ | 1,784 | ​ | $ | 1,486
​ There were no write-downs of inventory into cost of net revenues for the three months ended March 31, 2024 and 2023. Prepaid expenses and other assets Prepaid expenses and other assets consist of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, |  | December 31,
​ | ​ | 2024 | ​ | 2023
Prepaid expenses | ​ | $ | 3,345 | ​ | $ | 433
Prepaid inventory | ​ | ​ | 1,429 | ​ | ​ | 279
Lease deposit |  | ​ | 413 |  | ​ | 434
Other receivables and current assets |  | ​ | 279 |  | ​ | 117
IPO expenses |  | ​ | — |  | ​ | 1,643
Prepaid expenses and other current assets | ​ | $ | 5,466 | ​ | $ | 2,906
​ Accrued and other current liabilities Accrued and other current liabilities consist of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, |  | December 31,
​ | ​ | 2024 | ​ | 2023
Payroll and related expenses | ​ | $ | 9,830 | ​ | $ | 9,880
Accrued payables | ​ | ​ | 7,853 | ​ | ​ | 6,319
Other taxes payable | ​ | ​ | 3,399 | ​ | ​ | 158
Current portion of interest payable | ​ | ​ | 3,395 | ​ | ​ | 6,915
Professional fees |  | ​ | 444 |  | ​ | 499
Royalty and license fee |  | ​ | 60 |  | ​ | 58
Product warranty |  | ​ | 64 |  | ​ | 55
Other |  | ​ | 107 |  | ​ | 72
Accrued and other current liabilities | ​ | $ | 25,152 | ​ | $ | 23,956
​ |
3. | Balance Sheet Components
Inventory Inventory as of December 31, 2023 and 2022 consists of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | 2023 |  | 2022
Raw materials | ​ | $ | 448 | ​ | $ | 182
Work-in-process | ​ |  | 601 | ​ |  | 891
Finished goods | ​ |  | 437 | ​ |  | 2,407
​ | ​ | $ | 1,486 | ​ | $ | 3,480
​ Prepaid expenses and other assets Prepaid expenses and other assets as of December 31, 2023 and 2022 consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | 2023 |  | 2022
IPO expenses | ​ | $ | 1,643 | ​ | $ | —
Intellectual property rights | ​ |  | 761 | ​ |  | 861
Lease deposit | ​ |  | 554 | ​ |  | 555
Prepaid expenses | ​ |  | 433 | ​ |  | 799
Prepaid inventory | ​ |  | 279 | ​ |  | 1,310
Other receivables | ​ |  | 105 | ​ |  | 102
Costs incurred to fulfill a contract | ​ |  | 12 | ​ |  | 39
​ | ​ |  | 3,787 | ​ |  | 3,666
Less: Non-current assets | ​ |  | (881) | ​ |  | (993)
Prepaid expenses and other current assets | ​ | $ | 2,906 | ​ | $ | 2,673
​ Property and equipment, net Property and equipment, net as of December 31, 2023 and 2022 consists of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | 2023 |  | 2022
Production equipment | ​ | $ | 14,887 | ​ | $ | 14,800
IT equipment | ​ |  | 1,127 | ​ |  | 1,212
Furniture and fixtures | ​ |  | 784 | ​ |  | 799
Leasehold improvements | ​ |  | 293 | ​ |  | 388
Fixed assets in process | ​ |  | — | ​ |  | 39
Total property and equipment | ​ |  | 17,091 | ​ |  | 17,238
Less: accumulated depreciation and amortization | ​ |  | (16,319) | ​ |  | (16,127)
​ | ​ | $ | 772 | ​ | $ | 1,111
​ Depreciation expense was approximately $640,000 and $518,000 for the years ended December 31, 2023 and 2022, respectively. ​ 3.Balance Sheet Components, continued Leases The Company is obligated under finance leases covering certain IT equipment that expire at various dates during the next year. The Company also has several noncancellable operating leases, primarily for office equipment and office space that expire over the next four years. The office space leases generally contain renewal options for periods ranging from two to four years. Due to the Company’s reasonable certainty regarding the exercise of these renewal options for the Korea office lease, the options have been considered in determining the lease term. Consequently, any associated potential option payments are included in lease payments. The Company’s leases generally do not include termination options for either party to the lease or restrictive financial or other covenants. Payments due under the lease contracts include fixed payments plus, for many of the Company’s leases, variable payments. For office space leases, variable payments include payments for the Company’s proportionate share of the building’s property taxes, insurance, and common area maintenance. For office equipment leases for which the Company has elected not to separate lease and non-lease components, maintenance services are provided by the lessor at a fixed cost and are included in the fixed lease payments for the single, combined lease component. The Company also elected to discount its office equipment lease liabilities using a risk-free rate. The components of lease expense for the years ended December 31, 2023 and 2022 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | 2023 |  | 2022
Operating lease expense | ​ | $ | 772 | ​ | $ | 733
Finance lease expense | ​ |  |  | ​ |  |
Amortization of right of use assets | ​ |  | 14 | ​ |  | 18
Interest on lease liabilities | ​ |  | 1 | ​ |  | 2
Total finance lease expense | ​ |  | 15 | ​ |  | 20
​ | ​ | $ | 787 | ​ | $ | 753
​ Other information related to leases for the years ended December 31, 2023 and 2022 was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | 2023 |  | 2022 |
Supplemental cash flow information: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash paid for amounts included in the measurement of lease liabilities |  | ​ |  |  | ​ |  | ​
Cash used in operations for operating leases | ​ | $ | 766 | ​ | $ | 770 | ​
Cash used in operations for finance leases | ​ |  | 1 | ​ |  | 2 | ​
Payments made on finance leases | ​ |  | 17 | ​ |  | 24 | ​
ROU assets obtained in exchange for lease obligations: | ​ |  |  | ​ |  |  | ​
Operating leases | ​ |  | 1,476 | ​ |  | 826 | ​
Weighted average remaining lease term: | ​ |  |  | ​ |  |  | ​
Operating leases | ​ |  | 2.25 years | ​ |  | 3.57 years | ​
Finance leases | ​ |  | — | ​ |  | 0.90 years | ​
Weighted average discount rate: | ​ |  |  | ​ |  |  | ​
Operating leases | ​ |  | 4.66 | % |  | 4.00 | %
Finance leases | ​ |  | — | ​ |  | 9.70 | %
​ ​ 3.Balance Sheet Components, continued Leases, continued Amounts disclosed for ROU assets obtained in exchange for lease obligations include amounts added to the carrying amount of ROU assets resulting from lease modifications and reassessments. Maturities of lease liabilities under noncancellable leases as of December 31, 2023 are as follows: ​
​ | ​ | ​ | ​
​ |  | Operating
(in thousands) | ​ | leases
2024 | ​ | $ | 743
2025 | ​ |  | 712
2026 | ​ |  | 169
Total undiscounted lease payments | ​ |  | 1,624
Less: imputed interest | ​ |  | (94)
Total lease liabilities | ​ | $ | 1,530
​ Intangibles, net Intangibles, net as of December 31, 2023 and 2022 consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | 2023 |  | 2022
Intellectual properties | ​ | $ | 1,118 | ​ | $ | 943
Intangible assets in process | ​ |  | — | ​ |  | 180
Total acquired intangibles | ​ |  | 1,118 | ​ |  | 1,123
Less: accumulated amortization | ​ |  | (873) | ​ |  | (451)
​ | ​ | $ | 245 | ​ | $ | 672
​ Amortization expense was approximately $422,000 and $147,000 for the years ended December 31, 2023 and 2022, respectively. Accrued and other current liabilities Accrued and other current liabilities as of December 31, 2023 and 2022 consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | 2023 |  | 2022
Payroll and related expenses | ​ | $ | 10,038 | ​ | $ | 6,635
Accrued payables | ​ |  | 6,319 | ​ |  | 2,233
Royalty and license fee | ​ |  | 58 | ​ |  | 37
Professional fees | ​ |  | 499 | ​ |  | 479
Current portion of interest payable | ​ |  | 6,915 | ​ |  | 2,944
Product warranty | ​ |  | 55 | ​ |  | 64
Other | ​ |  | 72 | ​ |  | 104
​ | ​ | $ | 23,956 | ​ | $ | 12,496
​ ​ 3.Balance Sheet Components, continued Other liabilities Other liabilities as of December 31, 2023 and 2022 consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | 2023 |  | 2022
Severance payments liability | ​ | $ | 92 |  | $ | 76
Interest payable | ​ |  | 16 |  |  | —
​ | ​ | $ | 108 |  | $ | 76
​

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