Balance Sheet Components

9 Months Ended

Sep. 30, 2024

Statement Of Financial Position [Abstract]

Balance Sheet Components

6. Balance Sheet Components

The Company’s inventories are stated at the lower of cost or net realizable value. Inventories consist of (in thousands):

	September 30, 2024		December 31, 2023
Raw materials	$	5,980	$	8,191
Work-in-progress		28		5
Finished goods		4,702		5,364
Total	$	10,710	$	13,560

Property and equipment, net consists of (in thousands):

	September 30, 2024			December 31, 2023
Building and leasehold improvements	$	1,860		$	1,392
Furniture, fixtures and office equipment		237			215
Plant and machinery		17,456			17,528
Purchased software		637			296
Total		20,190			19,431
Accumulated depreciation		(11,987	)		(10,959	)
Property and equipment, net	$	8,203		$	8,472

The Company recorded depreciation expense of $0.4 million and $0.4 million during the three months ended September 30, 2024 and 2023, respectively, and $1.3 million and $1.0 million during the nine months ended September 30, 2024 and 2023, respectively.

Other accrued expenses and liabilities consist of (in thousands):

	September 30, 2024		December 31, 2023
Accrued professional fees	$	594	$	404
Accrued warranties		100		217
Amounts payable under the Transition Services Agreement		2,344		—
Other accrued expenses		557		296
Total	$	3,595	$	917