Balance Sheet Components

12 Months Ended

Dec. 31, 2024

Statement Of Financial Position [Abstract]

Balance Sheet Components

Note 6. Balance Sheet Components

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

	December 31,
	2024		2023
Raw materials	$	3,893	$	8,002
Work-in-progress		—		5
Finished goods		3,582		4,642
Total	$	7,475	$	12,649

The Company wrote down inventory of approximately $0.8 million in the fourth quarter of 2024 related to inventory on hand designated specifically for one customer that phased out of a legacy program earlier than expected.

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

	December 31,
	2024			2023
Building and leasehold improvements	$	1,315		$	1,392
Furniture, fixtures and office equipment		221			215
Plant and machinery		17,967			17,528
Purchased software		724			296
Total		20,227			19,431
Accumulated depreciation		(12,533	)		(10,959	)
Property and equipment, net	$	7,694		$	8,472

The Company recorded depreciation expense of $2.0 million and $1.3 million during the years ended December 31, 2024 and 2023, respectively. Depreciation expense included in discontinued operations was $0.2 million and $0.4 million for the years ended December 31, 2024 and 2023, respectively.

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

	December 31,
	2024		2023
Accrued professional fees	$	526	$	404
Accrued warranties		214		217
Amounts payable under the Transition Services Agreement		354		—
Amounts payable related to purchase price adjustment		474		—
Other accrued expenses		759		296
Total	$	2,327	$	917