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Balance Sheet Components
12 Months Ended
Dec. 31, 2019
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Components

(5) Balance Sheet Components

Inventories, net consist of the following (in thousands):

 

 

 

December 31,

 

 

December 31,

 

 

 

2019

 

 

2018

 

Raw materials

 

$

8,095

 

 

$

2,147

 

Work in progress

 

 

5,543

 

 

 

2,110

 

Finished goods

 

 

23,893

 

 

 

18,335

 

Finished goods - right of return

 

 

2,081

 

 

 

1,493

 

 

 

$

39,612

 

 

$

24,085

 

 

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

 

 

 

December 31,

 

 

December 31,

 

 

 

2019

 

 

2018

 

Leasehold improvements

 

$

2,841

 

 

$

402

 

Manufacturing equipment and toolings

 

 

8,175

 

 

 

1,928

 

Computer equipment

 

 

1,250

 

 

 

682

 

Software

 

 

2,602

 

 

 

1,039

 

Office equipment

 

 

111

 

 

 

156

 

Furniture and fixtures

 

 

1,144

 

 

 

826

 

 

 

 

16,123

 

 

 

5,033

 

Less accumulated depreciation

 

 

(3,809

)

 

 

(2,497

)

 

 

$

12,314

 

 

$

2,536

 

 

Depreciation expense for the years ended December 31, 2019, 2018 and 2017 was $1.2 million, $1.1 million and $0.9 million, respectively.

 

Under the terms of the Asset Purchase Agreement with Vesta entered into on November 7, 2019, the Company acquired $7.3 million of fixed assets, including leasehold improvements of $2.4 million, manufacturing equipment of $4.4 million, and capitalized software of $0.5 million. Refer further to Note 4(a).  

Accrued and other current liabilities consist of the following:

 

 

 

December 31,

 

 

December 31,

 

 

 

2019

 

 

2018

 

Payroll and related expenses

 

$

6,789

 

 

$

6,466

 

Accrued severance

 

 

894

 

 

 

—

 

Accrued commissions

 

 

4,984

 

 

 

5,321

 

Accrued equipment

 

 

400

 

 

 

18

 

Accrued inventory

 

 

2,216

 

 

 

—

 

Deferred and contingent consideration, current portion

 

 

6,830

 

 

 

7,645

 

Audit, consulting and legal fees

 

 

630

 

 

 

703

 

Accrued sales and marketing expenses

 

 

1,109

 

 

 

1,374

 

Operating lease liabilities

 

 

1,259

 

 

 

—

 

Finance lease liabilities

 

 

40

 

 

 

—

 

Other

 

 

7,400

 

 

 

6,170

 

 

 

$

32,551

 

 

$

27,697