Balance Sheets Components

3 Months Ended

Mar. 31, 2023

Balance Sheet Related Disclosures [Abstract]

Balance Sheets Components

Note 4. Balance Sheet Components

Accounts Receivable, net

Accounts receivable, net consisted of the following:

	As of
	March 31, 2023			December 31, 2022
	(in thousands)
Accounts receivable, gross	$	21,514		$	41,279
Allowance for credit losses		(50	)		(50	)
Accounts receivable, net	$	21,464		$	41,229

Inventories

Inventories consisted of the following:

	As of
	March 31, 2023		December 31, 2022
	(in thousands)
Raw materials	$	26,111	$	17,518
Work in progress		26,037		33,687
Finished goods		7,863		6,445
Total inventories	$	60,011	$	57,650

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:

	As of
	March 31, 2023		December 31, 2022
	(in thousands)
Prepaid expenses	$	3,225	$	3,118
Other current assets		5,761		2,973
Total prepaid expenses and other current assets	$	8,986	$	6,091

Property and Equipment, Net

Property and equipment, net consisted of the following:

	As of
	March 31, 2023			December 31, 2022
	(in thousands)
Lab and manufacturing equipment	$	75,652		$	73,220
Computer equipment		3,238			3,170
Furniture and fixtures		563			509
Construction in progress		5,115			5,967
Leasehold improvements		7,365			7,129
		91,933			89,995
Accumulated depreciation		(34,446	)		(31,223	)
Total property and equipment, net	$	57,487		$	58,772

Depreciation expense related to property and equipment was $3.2 million and $2.1 million for the three months ended March 31, 2023 and 2022, respectively.

Intangible Assets, Net

Intangible assets, net consisted of the following:

	As of
	March 31, 2023							December 31, 2022
	(in thousands)
	Gross Assets		Accumulated Amortization			Net Assets		Gross Assets		Accumulated Amortization			Net Assets
Internal use software	$	9,434	$	(8,933	)	$	501	$	9,434	$	(8,833	)	$	601
Purchased software		12,772		(8,473	)		4,299		12,583		(7,978	)		4,604
Intangible assets	$	22,206	$	(17,406	)	$	4,800	$	22,017	$	(16,811	)	$	5,205

Amortization expense for intangible assets was $0.6 million and $0.3 million for the three months ended March 31, 2023 and 2022, respectively.

The estimated aggregate future amortization expense for intangible assets subject to amortization as of March 31, 2023 is summarized as below:

	(in thousands)
2023 (remainder)	$	1,803
2024		1,711
2025		708
2026		385
2027		193
	$	4,800

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:

	As of
	March 31, 2023		December 31, 2022
	(in thousands)
Accrued payroll and related benefits	$	4,801	$	6,109
Revenue reserves		2,047		1,840
Deferred non-recurring engineering services		2,628		2,689
Short term lease liability		2,574		2,485
Other accrued expenses		4,970		5,790
Total accrued expenses and other current liabilities	$	17,020	$	18,913

The Company recorded reductions to research and development expenses related to non-recurring engineering service arrangements in the condensed consolidated statements of operations of $1.2 million and $2.0 million during the three months ended March 31, 2023 and 2022, respectively.