Balance Sheet Components

3 Months Ended

Mar. 31, 2025

Balance Sheet Components

Balance Sheet Components

6. Balance Sheet Components

Allowance for Expected Credit Losses

The following is a roll-forward of the allowances for expected credit losses related to trade accounts receivable for the three months ended March 31, 2025 and 2024:

	Three Months Ended
	March 31,
	2025		2024
		(in thousands)
Beginning balance	$	7,259	$	6,481
Provision for expected credit losses		195		929
Write-offs		(20)		(158)
Total	$	7,434	$	7,252

Property and Equipment, net

The Company’s property and equipment consists of the following:

		March 31,		December 31,
	Useful Life	2025		2024
		(in thousands)
Machinery and equipment	3-5 years	$	129,005	$	117,076
Computer equipment	3 years		3,287		3,178
Purchased and capitalized software held for internal use	3 years		14,587		13,178
Leasehold improvements	Lesser of useful life or lease term		48,883		48,569
Construction-in-process			71,271		58,461
			267,033		240,462
Less: Accumulated depreciation and amortization			(86,580)		(78,416)
Total property and equipment, net		$	180,453	$	162,046

The Company’s long-lived assets are located in the United States.

Depreciation expense for the three months ended March 31, 2025 and 2024 was $8.2 million and $6.3 million, respectively. The Company did not incur any impairment charges during either period.

Other Accrued Liabilities

The Company’s other accrued liabilities consisted of the following:

	March 31,		December 31,
	2025		2024
	(in thousands)
Reserves for refunds to insurance carriers	$	10,171	$	11,276
Accrued charges for third-party testing		16,963		12,321
Testing and laboratory materials from suppliers		10,754		7,893
Marketing and corporate affairs		17,898		16,548
Legal, audit and consulting fees		66,097		54,208
Accrued shipping charges		1,945		1,625
Sales and income tax payable		5,602		4,416
Accrued third-party service fees		8,812		9,046
Clinical trials and studies		10,788		10,097
Operating lease liabilities, current portion		12,199		10,168
Property and equipment purchases		9,525		7,098
Other accrued expenses		7,695		2,197
Total other accrued liabilities	$	178,449	$	146,893

Reserves for refunds to insurance carriers include overpayments from and amounts to be refunded to insurance carriers, and additional amounts that the Company estimates for potential refund requests during the period. When and if these previously accrued amounts are no longer required based on actual refunds requested, any remaining reserve amounts are released. When the Company releases these previously accrued amounts, they are recognized as product revenues in the statements of operations and comprehensive loss.

The following table summarizes the reserve balance and activities for refunds to insurance carriers for the three months ending March 31, 2025 and 2024:

	March 31,
	2025		2024
	(in thousands)
Beginning balance	$	11,276	$	23,245
Additional (reversals) reserves		(622)		227
Refunds to carriers		—		(3,095)
Reserves released to revenue		(483)		(2,354)
Ending balance	$	10,171	$	18,023