Balance Sheet Components

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Cash and Cash Equivalents

The Company’s cash and cash equivalents consist of the following (in thousands):


	December 31,
	2020		2019
Cash	$	221,028	$	7,449
Cash equivalents:
Money market funds	10,533		6,318
Commercial paper	—		1,000
Total cash and cash equivalents	$	231,561	$	14,767

Inventory

Inventory consists of the following (in thousands):


	December 31,
	2020		2019
Raw materials	$	3,342	$	1,950
Work in process	227		180
Finished goods	7,172		3,482
Total inventory	$	10,741	$	5,612

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in thousands):


	December 31,
	2020		2019
Prepaid expenses	$	381	$	436
Prepaid insurance	2,131		12
VAT receivable	339		387
Other current assets	377		766
Total prepaid expenses and other current assets	$	3,228	$	1,601

Property and Equipment, Net

Property and equipment, net consist of the following (in thousands):


	December 31,
	2020		2019
Machinery and equipment	$	1,447	$	1,269
Computer equipment and software	1,062		848
Furniture and fixtures	229		168
Leasehold improvements	57		57
Construction in progress	452		—
Total	3,247		2,342
Less: accumulated depreciation	(1,773)		(1,440)
Property and equipment, net	$	1,474	$	902

Depreciation expense for the years ended December 31, 2020, December 31, 2019 and December 31, 2018 was $0.3 million, $0.2 million and $0.1 million, respectively.

Goodwill

Goodwill was $2.3 million as of December 31, 2020 and December 31, 2019 arising from the Company’s acquisition of Emphasys Medical, Inc, in March 2009. No goodwill impairment losses have been recognized since the acquisition. There were no acquisitions or dispositions of goodwill in 2020 and 2019. The Company performed an annual test for goodwill impairment in the fourth quarter of the fiscal years ended December 31, 2020 and December 31, 2019 and determined that goodwill was not impaired.

Intangible Assets

Intangible assets consist of the following (in thousands):


	December 31, 2020
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Developed technology	$	1,658	$	(1,299)	$	359
Trademarks	191		(150)		41
Total intangible assets	$	1,849	$	(1,449)	$	400


	December 31, 2019
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Developed technology	$	1,658	$	(1,188)	$	470
Trademarks	191		(137)		54
Total intangible assets	$	1,849	$	(1,325)	$	524

Amortization expense relating to the intangibles totaled $0.1 million during each of the years ended on December 31, 2020, 2019 and 2018.

Future amortization expense is as follows (in thousands):


Year Ending December 31,
2021	$	123
2022	123
2023	123
2024	31
Total amortization expense	$	400

Accrued Liabilities

Accrued liabilities consist of the following (in thousands):


	December 31,
	2020		2019
Accrued employee bonuses	$	2,374	$	3,064
Accrued vacation	1,810		1,098
Other accrued personnel related expenses	1,368		705
Accrued professional fees	1,313		1,342
Accrued interest	—		1,708
Sales taxes, franchise tax and VAT	521		762
Liability for early exercise of stock options	629		304
Other	636		480
Total accrued liabilities	$	8,651	$	9,463