Balance Sheet Components

3 Months Ended

Mar. 31, 2022

6. Balance Sheet Components

Cash and cash equivalents

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


	March 31,		December 31,
		2022		2021
Cash	$	1,623	$	2,086
Cash equivalents:
Money market funds		26,281		38,522
Total cash and cash equivalents	$	27,904	$	40,608

Inventory

Inventory consists of the following (in thousands):


	March 31,		December 31,
		2022		2021
Finished goods	$	9,194	$	9,495
Component materials		6,810		6,187
Total inventory	$	16,004	$	15,682

Prepaid expenses and other current assets

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


	March 31,		December 31,
		2022		2021
Prepaid expenses	$	1,238	$	1,264
Prepaid insurance		1,804		2,726
Other current assets		100		149
Total prepaid expenses and other current assets	$	3,142	$	4,139

Property and equipment, net

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


		March 31,		December 31,
	Useful life (years)		2022		2021
Computers and software	2	$	730	$	730
Machinery and equipment	3		841		997
Furniture and fixtures	7		48		48
Tools and dies	2		949		941
Construction in progress	—		456		428
Equipment under customer usage agreements	3		11,365		10,612
Leasehold improvements	Lesser of useful life or lease term		155		155
			14,544		13,911
Less: accumulated depreciation and amortization			(9,727)		(9,317)
Property and equipment, net		$	4,817	$	4,594

Depreciation and amortization expense on property and equipment was $0.6 million, for each of the three month periods ended on March 31, 2022 and 2021. Of this amount approximately, $0.6 million, and $0.5 million, for the three month periods ended on March 31, 2022 and 2021, respectively, was related to equipment under customer usage agreements recorded to cost of goods sold.

Intangible asset, net

Intangible asset, net consist of the following (in thousands):


	March 31, 2022
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Trademarks	$	3,969	$	(1,145)	$	2,824
Developed technology		30,819		(5,779)		25,040
Customer relationships		13,466		(8,416)		5,050
Other intangible assets		24		—		24
Total intangible assets	$	48,278	$	(15,340)	$	32,938


	December 31, 2021
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Trademarks	$	3,969	$	(992)	$	2,977
Developed technology		30,819		(5,008)		25,811
Customer relationships		13,466		(7,294)		6,172
Other intangible assets		10		—		10
Total intangible assets	$	48,264	$	(13,294)	$	34,970

Amortization expense on intangible assets was $2.1 million for each of the three month periods ended on March 31, 2022 and March 31, 2021.

Future amortization expense of intangible assets as of March 31, 2022 is as follows (in thousands):


As of March 31,
2022 (remaining nine months)	$	6,136
2023		5,376
2024		3,693
2025		3,693
Thereafter		14,040
Total	$	32,938

Accrued compensation

Accrued compensation consists of the following (in thousands):


	March 31,		December 31,
		2022		2021
Accrued vacation	$	1,520	$	1,469
Accrued bonuses		639		1,307
Accrued commissions		596		665
Other accrued personnel related expenses		132		77
Total accrued compensation	$	2,887	$	3,518

Accrued liabilities

Accrued liabilities consist of the following (in thousands):


	March 31,		December 31,
		2022		2021
Accrual for litigation	$	7,203	$	7,203
Accrued professional fees		563		974
Accrued sales and use taxes		633		657
Deferred rent		—		277
Accrual for inventory in transit		1,079		119
Contract liability		281		206
Accrued interest expense		193		189
Others		796		1,037
Total accrued liabilities	$	10,748	$	10,662