Balance Sheet Components

6 Months Ended

Jun. 30, 2022

6. Balance Sheet Components

Cash and cash equivalents

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


	June 30,		December 31,
		2022		2021
Cash	$	1,085	$	2,086
Cash equivalents:
Money market funds		21,301		38,522
Total cash and cash equivalents	$	22,386	$	40,608

Inventory

Inventory consists of the following (in thousands):


	June 30,		December 31,
		2022		2021
Finished goods	$	9,353	$	9,495
Component materials		7,575		6,187
Total inventory	$	16,928	$	15,682

Prepaid expenses and other current assets

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


	June 30,		December 31,
		2022		2021
Prepaid expenses	$	1,526	$	1,264
Prepaid insurance		1,323		2,726
Other current assets		290		149
Total prepaid expenses and other current assets	$	3,139	$	4,139

Property and equipment, net

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


		June 30,		December 31,
	Useful life (years)		2022		2021
Computers and software	2	$	407	$	730
Machinery and equipment	3		699		997
Furniture and fixtures	7		48		48
Tools and dies	2		965		941
Construction in progress	—		416		428
Equipment under customer usage agreements	3		12,331		10,612
Leasehold improvements	Lesser of useful life or lease term		155		155
			15,021		13,911
Less: accumulated depreciation and amortization			(9,842)		(9,317)
Property and equipment, net		$	5,179	$	4,594

Depreciation and amortization expense on property and equipment was $0.6 million for the three-month periods ended on June 30, 2022 and 2021. Of this amount approximately $0.6 million for the three-month periods ended on June 30, 2022 and 2021, was related to equipment under customer usage agreements recorded to cost of goods sold.

Depreciation and amortization expense on property and equipment was $1.3 million and $1.2 million for the six-month periods ended on June 30, 2022 and 2021, respectively. Of this amount approximately $1.1 million, and $1.1 million for the six-month periods ended on June 30, 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):


	June 30, 2022
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Trademarks	$	3,969	$	(1,298)	$	2,671
Developed technology		30,819		(6,549)		24,270
Customer relationships		13,466		(9,538)		3,928
Other intangible assets		47		—		47
Total intangible assets	$	48,301	$	(17,385)	$	30,916


	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 $2.0 million for the three-month periods ended on June 30, 2022 and 2021.

Amortization expense on intangible assets was $4.1 million for the six-month periods ended on June 30, 2022 and 2021.

Future amortization expense of intangible assets as of June 30, 2022 is as follows (in thousands):


As of June 30,
2022 (remaining six months)	$	4,091
2023		5,376
2024		3,693
2025		3,693
Thereafter		14,063
Total	$	30,916

Accrued compensation

Accrued compensation consists of the following (in thousands):


	June 30,		December 31,
		2022		2021
Accrued vacation	$	1,393	$	1,469
Accrued bonuses		1,251		1,307
Accrued commissions		699		665
Other accrued personnel related expenses		124		77
Total accrued compensation	$	3,467	$	3,518

Accrued liabilities

Accrued liabilities consist of the following (in thousands):


	June 30,		December 31,
		2022		2021
Accrual for litigation	$	7,203	$	7,203
Accrued professional fees		359		974
Accrued sales and use taxes		299		657
Deferred rent		—		277
Accrual for inventory in transit		2,025		119
Contract liability		304		206
Accrued interest expense		219		189
Others		977		1,037
Total accrued liabilities	$	11,386	$	10,662