Balance Sheet Components

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Investments

The fair value of the Company's available-for-sale investments as of December 31, 2019 are as follows (in thousands):


	December 31, 2019
			Gross Unrealized						Estimated
	Amortized Cost		Gains		Losses		Fair Value
Money market funds	$	34,363	$	—	$	—	$	34,363
Commercial paper	9,919		—		—		9,919
Corporate bonds/notes	10,180		—		(4)		10,176
U.S. government securities	44,450		9		(3)		44,456
Asset-backed securities	5,181		—		—		5,181
	$	104,093	$	9	$	(7)	$	104,095

Classified as:
Cash equivalents							$	34,363
Short-term investments							51,508
Long-term investments							18,224
							$	104,095

The following table summarizes the fair value of the Company’s cash equivalents, short-term and long-term investments classified by maturity as of December 31, 2019 (in thousands):


	December 31,
	2019
Amounts maturing within one year	$	85,871
Amounts maturing after one year through two years	18,224
	$	104,095

Available-for-sale investments held as of December 31, 2019 had a weighted average days to maturity of 291 days.

The following table presents the Company's available-for-sale investments that were in an unrealized loss position as of December 31, 2019 (in thousands):


	December 31, 2019
	Less than 12 months
Assets:	Fair Value		Unrealized Loss
Corporate bonds/notes	$	10,128	$	(4)
U.S. government securities	19,067		(3)
	$	29,195	$	(7)

Inventories

Components of inventories were as follows (in thousands):


	December 31,
	2019		2018
Raw materials	$	1,203	$	1,054
Finished products	9,119		4,690
	$	10,322	$	5,744

As of December 31, 2019 and 2018, there were no work-in-process inventories.

Property and Equipment, Net

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


	December 31,
	2019		2018
Furniture and fixtures	$	657	$	517
Equipment	1,295		1,217
Software	18		76
Leasehold improvements	1,991		1,978
	3,961		3,788
Less: Accumulated depreciation and amortization	(1,550)		(946)
Add: Construction-in-progress	323		38
	$	2,734	$	2,880

Depreciation and amortization expense was $712,000 and $517,000 for the years ended December 31, 2019 and 2018, respectively.

Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):


	December 31,
	2019		2018
Accrued payroll and related expenses	$	9,151	$	5,157
Provision for sales returns	2,419		1,862
Accrued professional services	682		1,014
Operating lease liability	769		—
Accrued royalty expense	470		313
Deferred revenue	304		137
Accrued travel expenses	431		270
Accrued clinical expenses	241		244
Accrued other expenses	567		451
	$	15,034	$	9,448