Balance Sheet Components

6 Months Ended

Jun. 30, 2022

5. Balance Sheet Components

Investments

The Company had no investments as of December 31, 2021. The fair value of the Company’s available-for-sale investments as of June 30, 2022 are as follows (in thousands):


	June 30, 2022
			Gross Unrealized				Estimated
	Amortized Cost		Gains		Losses		Fair Value
Money market funds	$	86,745	$	—	$	—	$	86,745
Commercial paper		6,271		—		—		6,271
U.S. government securities		14,965		—		(2)		14,963
	$	107,981	$	—	$	(2)	$	107,979
Classified as:
Cash equivalents							$	86,745
Short-term investments								21,234
							$	107,979

All of the Company’s cash equivalents mature within one year as of June 30, 2022 and December 31, 2021. All of the Company’s short-term investments mature within one year as of June 30, 2022. Available-for-sale investments held as of June 30, 2022 had a weighted average days to maturity of 214 days.

The following table presents the Company’s available-for-sale investments that were in an unrealized loss position as of June 30, 2022 (in thousands):


	June 30, 2022				December 31, 2021
	Less than 12 months				Less than 12 months
Assets:	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
U.S. government securities		11,937		(2)		—		—
	$	11,937	$	(2)	$	—	$	—

Inventories

Components of inventories were as follows (in thousands):


	June 30,		December 31,
	2022		2021
Raw materials	$	3,597	$	2,447
Finished products		14,027		15,437
		17,624		17,884
Less: Reserve for excess and obsolete		(8)		(33)
	$	17,616	$	17,851

As of June 30, 2022 and December 31, 2021, there were no work-in-process inventories.

Accrued Liabilities

Accrued liabilities consist of the following (in thousands):



	June 30,		December 31,
	2022		2021
Accrued payroll and related expenses	$	10,019	$	13,898
Provision for sales returns		508		359
Accrued professional services		2,225		2,039
Operating lease liability		1,750		1,294
Accrued interest payable		393		14
Accrued royalty expense		804		687
Deferred revenue		482		157
Accrued travel expenses		749		590
Accrued clinical expenses		50		99
Accrued other expenses		595		665
Total	$	17,575	$	19,802