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Balance Sheet Components | 9 Months Ended
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Sep. 30, 2023
Balance Sheet Related Disclosures [Abstract] |
Balance Sheet Components | BALANCE SHEET COMPONENTS Accounts Receivable, Net Accounts receivable are contract assets that arise from the performance of our obligation pursuant to our contracts with our customers and represent our unconditional right to payment for the satisfaction of our performance obligations. They are recorded at invoiced amount and do not bear interest when recorded or accrue interest when past due. Accounts receivable are stated net of an allowance for doubtful accounts, which is maintained for estimated losses that may result from the inability of our customers to make required payments. Accounts receivable net, consist of the following:
| September 30, 2023 |  | December 31, 2022
Accounts receivable, gross | $ | 10,191 |  |  | $ | 10,124 |
Less: allowance for doubtful accounts | (26) |  |  | (77) |
Accounts receivable, net | $ | 10,165 |  |  | $ | 10,047 |
The following is the change in our allowance for doubtful accounts:
| Nine Months Ended
| September 30,
| 2023 |  | 2022
Balance at beginning of period | $ | 77 |  |  | $ | 36 |
Reductions credited | (51) |  |  | (10) |
Balance at end of period | $ | 26 |  |  | $ | 26 |
Inventories Inventories consist of finished goods and work-in-process, and are stated at the lower of standard cost (which approximates actual cost on a first-in, first-out basis) or market (net realizable value). Inventories consist of the following:
| September 30, 2023 |  | December 31, 2022
Finished goods | $ | 4,251 |  |  | $ | 480 |
Work-in-process | 1,654 |  |  | 1,280 |
Inventories | $ | 5,905 |  |  | $ | 1,760 |
Property and Equipment, Net Property and equipment, net consists of the following:
| September 30, 2023 |  | December 31, 2022
Gross property and equipment | $ | 25,084 |  |  | $ | 20,792 |
Less: accumulated depreciation and amortization | (18,522) |  |  | (16,160) |
Property and equipment, net | $ | 6,562 |  |  | $ | 4,632 |
Acquired Intangible Assets, Net In connection with the acquisition of ViXS (the "Acquisition"), we recorded certain identifiable intangible assets. Acquired intangible assets resulting from this transaction were assigned to Pixelworks, Inc., and consist of the following:
| September 30, 2023 |  | December 31, 2022
Developed technology | $ | 5,050 |  |  | $ | 5,050 |
Customer relationships | 1,270 |  |  | 1,270 |
Backlog and tradename | 410 |  |  | 410 |
| 6,730 |  |  | 6,730 |
Less: accumulated amortization | (6,730) |  |  | (6,730) |
Acquired intangible assets, net | $ | — |  |  | $ | — |
Developed technology and customer relationships were fully amortized as of March 31, 2022, tradename was fully amortized as of March 31, 2019 and backlog was fully amortized as of September 30, 2018. Goodwill Goodwill resulted from the Acquisition, whereby we recorded goodwill of $18,407. Goodwill is not amortized; however, we review goodwill for impairment annually and whenever events or changes in circumstances indicate that the fair value of the reporting unit may be less than its carrying value. Conditions that would trigger an impairment assessment include, but are not limited to, a significant adverse change in our business climate or a current period operating or cash flow loss combined with a history of operating or cash flow losses or a projection or forecast that demonstrates continued losses or adverse changes in legal factors, regulation or business environment or a sustained decrease in stock price. Our stock price has declined recently, however, combined with our assessment of other events and circumstances, we do not believe this to be a current triggering event requiring a goodwill impairment assessment as of September 30, 2023. . We perform our annual impairment assessment for goodwill on November 30 of each year. Accrued Liabilities and Current Portion of Long-Term Liabilities Accrued liabilities and current portion of long-term liabilities consist of the following:
| September 30, 2023 |  | December 31, 2022
Accrued payroll and related liabilities | $ | 3,938 |  |  | $ | 3,632 |
Operating lease liabilities, current | 2,423 |  |  | 1,391 |
Current portion of accrued liabilities for asset financings | 1,295 |  |  | 876 |
Deferred revenue | 400 |  |  | 230 |
Accrued interest payable | 88 |  |  | 246 |
Accrued commissions and royalties | 30 |  |  | 210 |
Other | 2,029 |  |  | 2,264 |
Accrued liabilities and current portion of long-term liabilities | $ | 10,203 |  |  | $ | 8,849 |
Deferred revenues are contract liabilities that arise when cash payments are received or due in advance of the satisfaction of our performance obligations. Any increase in deferred revenues is driven by cash payments received or due in advance of satisfying our performance obligation pursuant to the contract with the customer. Any decrease in deferred revenues is due to the recognition of revenue related to satisfying our performance obligation. The change in deferred revenue is as follows:
| Nine Months Ended
| September 30,
| 2023 |  | 2022
Deferred revenue: |  |  |
Balance at beginning of period | $ | 230 |  |  | $ | 50 |
Revenue deferred | 385 |  |  | 940 |
Revenue recognized | (215) |  |  | (730) |
Balance at end of period | $ | 400 |  |  | $ | 260 |

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