Balance Sheet Components

6 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Accounts Receivable, Net

Accounts receivable, net consisted of the following:


	June 30,		December 31,
	2023		2022
	(In thousands)
Trade receivables	$	14,351	$	9,639
Less: Allowances for credit losses	(67)		(454)
Total	$	14,284	$	9,185

Inventories

Inventories consisted of the following:


	June 30,		December 31,
	2023		2022
	(In thousands)
Raw materials	$	66,929	$	58,585
Work-in-progress	9,365		12,617
Finished goods	1,721		—
Total	$	78,015	$	71,202

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


	June 30,		December 31,
	2023		2022
	(In thousands)
Prepaid insurance and other	$	1,924	$	3,316
Vendor prepayments	936		2,217
Total	$	2,860	$	5,533

Property and Equipment, Net

Property and equipment, net consisted of the following:


	June 30,		December 31,
	2023		2022
	(In thousands)
Computers and software	$	2,409	$	2,222
Lab equipment and other equipment	7,866		7,379
Furniture and fixtures	246		181
Leasehold improvements	16,016		16,273
Construction in progress	21		—
Total property, plant and equipment	26,558		26,055
Less accumulated depreciation and amortization	(8,182)		(6,243)
Property, plant and equipment, net	$	18,376	$	19,812

Depreciation expense for the three months ended June 30, 2023 and 2022 was $1.2 million and $0.7 million, respectively. Depreciation expense for the six months ended June 30, 2023 and 2022 was $2.3 million and $1.2 million, respectively.

The manufacturing facility operating lease at Campbell (McGlincy) was terminated on March 31, 2023, and is no longer in use. There were no significant asset retirement obligations. The Company wrote-off $0.6 million in fully-depreciated leasehold improvements related to the Campbell (McGlincy) lease during the six months ended June 30, 2023.

Other Assets

Other assets consisted of the following:


	June 30,		December 31,
	2023		2022
	(In thousands)
Right of use assets	$	12,180	$	13,545
Net investments in sales-type lease	6,288		6,554
Non-current prepaid expenses and other assets	4,533		3,211
Total Other assets	$	23,001	$	23,310

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	June 30,		December 31,
	2023		2022
	(In thousands)
Accrued expenses	$	3,598	$	8,602
Accrued salaries and benefits	3,402		4,830
Lease liability – current portion	2,369		2,445
Total Accrued expenses and other current liabilities	$	9,369	$	15,877

Other Noncurrent Liabilities

Other noncurrent liabilities consisted of the following:


	June 30,		December 31,
	2023		2022
	(In thousands)
Lease liabilities – noncurrent portion	$	11,024	$	12,206
Other noncurrent liabilities	396		428
Total other noncurrent liabilities	$	11,420	$	12,634

Please refer to Note 10, Equity Instruments, for further details of the contingent earnout liability and warrant liabilities.