Financial Statement Details

9 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Financial Statement Details

Financial Statement Details

Inventories

Inventories consist of the following (in thousands):

	September 30, 2023		December 31, 2022
Finished goods	$	18,122	$	31,153
Raw materials and components	3,794		6,823
Total inventories	$	21,916	$	37,976

The Company recorded a write-down of $6.8 million to reflect inventories at net realizable value in addition to a $1.3 million write-off of capitalized inventory order fees. Further, management accrued an additional $6.3 million in contract manufacturing liabilities (included in Accrued Expenses and Other Current Liabilities section below) related to excess materials at the contract manufacturers’ sites. All of these charges were recorded in cost of revenues during the three months ended September 30, 2023.

Prepaid expenses and other

Prepaid expenses and other consists of the following (in thousands):

	September 30, 2023		December 31, 2022
Rebate receivables	$	1,363	$	2,038
Receivables from contract manufacturers	1,441		3,561
Software licenses	816		772
Deposits	727		829
Financed assets	422		—
Other	793		778
Total prepaid expenses and other	$	5,562	$	7,978

1Rounding may impact summation of amounts.

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities consist of the following (in thousands):

	September 30, 2023		December 31, 2022
Royalties	902		992
Payroll and related expenses	5,440		8,873
Warranty obligations	480		480
Professional fees	176		738
Accrued interest	2,468		1,112
Deferred revenue	4,979		5,060
Customer advances	—		2,828
Operating lease liabilities	2,036		1,759
Accrued contract manufacturing liabilities	6,990		1,416
Value added tax payables	510		449
Other	4,936		4,238
Total accrued expenses and other current liabilities	$	28,917	$	27,945