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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Schedule of Revenue and Accounts Receivable Concentration The following tables present total revenue and accounts receivable concentration for the indicated periods as of the dates presented:

 

 

 

Year Ended December 31,

 

 

2023

 

 

2022

 

 

2021

 

Revenue:

 

 

 

 

 

 

Avery Dennison

 

 

33

%

 

 

28

%

 

 

32

%

Arizon

 

 

11

 

 

 

10

 

 

 

11

 

 

 

44

%

 

 

38

%

 

 

43

%

 

 

As of December 31,

 

 

2023

 

 

2022

 

Accounts Receivable:

 

 

 

 

Avery Dennison

 

 

39

%

 

 

24

%

Arizon

 

 

11

 

 

 

13

 

 

 

50

%

 

 

37

%

 

Summary of Allowance for Sales Returns The following table summarizes our allowance for sales returns (in thousands):

 

 

Balance at Beginning of Year

 

 

Additional Reserve

 

 

Applied Sales Return

 

 

Balance at End of Year

 

Allowance for sales returns and price exceptions:

 

 

 

 

 

 

 

 

During year ended December 31, 2023

 

$

605

 

 

$

2,912

 

 

$

(2,840

)

 

$

677

 

During year ended December 31, 2022

 

 

947

 

 

 

1,899

 

 

 

(2,241

)

 

 

605

 

During year ended December 31, 2021

 

 

406

 

 

 

2,780

 

 

 

(2,239

)

 

 

947

 

Schedule of Property and Equipment Estimated Useful Lives

We record property and equipment at cost and depreciate it using the straight-line method over the estimated useful lives of the related assets. The useful lives are as follows:

Category

 

Useful Life

 

 

Machinery and equipment

 

1 to 10 years

 

 

Computer equipment and software

 

3 to 5 years

 

 

Furniture and fixtures

 

3 to 7 years

 

 

Equipment acquired under finance leases

 

3 to 7 years

 

 

Leasehold improvements

 

Shorter of remaining lease term or expected useful life