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Select Condensed Consolidated Balance Sheets Details (Tables)
6 Months Ended
Jun. 30, 2021
Balance Sheet Related Disclosures [Abstract]  
Accounts receivable, net

Accounts receivable, net consist of the following (in thousands):

 

 

 

June 30,

2021

 

 

December 31,

2020

 

Accounts receivable

 

$

34,064

 

 

$

23,887

 

Allowance for doubtful accounts

 

 

(321

)

 

 

(360

)

Accounts receivable, net

 

$

33,743

 

 

$

23,527

 

Inventories, net

Inventories, net consist of the following (in thousands):

 

 

 

June 30,

2021

 

 

December 31,

2020

 

Raw materials

 

$

10,439

 

 

$

6,064

 

Work-in-process

 

 

2,333

 

 

 

1,982

 

Finished goods

 

 

107,360

 

 

 

67,892

 

 

 

 

120,132

 

 

 

75,938

 

Less reserve for excess and obsolete finished goods

 

 

(33,417

)

 

 

(29,937

)

Inventories, net

 

$

86,715

 

 

$

46,001

 

Property and equipment, net

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

 

 

 

Useful lives

(in years)

 

 

June 30,

2021

 

 

December 31,

2020

 

Surgical instruments

 

 

4

 

 

$

106,472

 

 

$

76,669

 

Machinery and equipment

 

 

7

 

 

 

9,757

 

 

 

6,562

 

Computer equipment

 

 

3

 

 

 

4,060

 

 

 

4,206

 

Office furniture and equipment

 

 

5

 

 

 

3,219

 

 

 

1,380

 

Leasehold improvements

 

various

 

 

 

688

 

 

 

1,761

 

Construction in progress

 

n/a

 

 

 

1,535

 

 

 

2,738

 

 

 

 

 

 

 

 

125,731

 

 

 

93,316

 

Less accumulated depreciation and amortization

 

 

 

 

 

 

(59,680

)

 

 

(56,646

)

Property and equipment, net

 

 

 

 

 

$

66,051

 

 

$

36,670

 

Intangible assets, net

Intangible assets, net consist of the following (in thousands, except as indicated):

 

 

 

Remaining Avg.

Useful lives

(in years)

 

 

June 30,

2021

 

 

December 31,

2020

 

Developed product technology

 

 

10

 

 

$

90,445

 

 

$

35,376

 

License agreements

 

 

1

 

 

 

5,536

 

 

 

5,536

 

Trademarks and trade names

 

 

9

 

 

 

6,692

 

 

 

792

 

Customer-related

 

 

5

 

 

 

16,800

 

 

 

7,458

 

Distribution network

 

 

2

 

 

 

4,027

 

 

 

4,027

 

In process research and development

 

 

7

 

 

 

1,128

 

 

 

1,278

 

Total gross amount

 

 

 

 

 

$

124,628

 

 

$

54,467

 

Less accumulated amortization

 

 

 

 

 

 

(31,647

)

 

 

(29,747

)

Intangible assets, net

 

 

 

 

 

$

92,981

 

 

$

24,720

 

Schedule of intangible assets, future expected amortization expense Future amortization expense related to intangible assets as of June 30, 2021 is as follows (in thousands)

Year Ending December 31,

 

 

 

 

Remainder of 2021

 

$

5,330

 

2022

 

 

9,550

 

2023

 

 

9,550

 

2024

 

 

9,447

 

2025

 

 

8,862

 

Thereafter

 

 

50,242

 

 

 

$

92,981

 

Accrued expenses

Accrued expenses consist of the following (in thousands):

 

 

 

June 30,

2021

 

 

December 31,

2020

 

Commissions and sales milestones

 

$

11,477

 

 

$

7,038

 

Payroll and payroll related

 

 

13,764

 

 

 

13,552

 

Litigation settlement obligation - short-term portion

 

 

4,000

 

 

 

4,000

 

Professional fees

 

 

2,971

 

 

 

3,551

 

Royalties

 

 

3,406

 

 

 

2,293

 

Interest

 

 

109

 

 

 

619

 

Administration fees

 

 

1,408

 

 

 

442

 

Accrued manufacturing expense

 

 

1,094

 

 

 

 

Other

 

 

5,226

 

 

 

3,769

 

Total accrued expenses

 

$

43,455

 

 

$

35,264

 

Schedule of Other Long-Term Liabilities

Other long-term liabilities consist of the following (in thousands):

 

 

 

June 30,

2021

 

 

December 31,

2020

 

Litigation settlement obligation - long-term portion

 

$

5,795

 

 

$

7,634

 

Tax liabilities

 

 

3,345

 

 

 

373

 

Royalties

 

 

2,655

 

 

 

1,678

 

Other

 

 

3,348

 

 

 

1,703

 

Other long-term liabilities

 

$

15,143

 

 

$

11,388