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Consolidated Balance Sheet Components
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Consolidated Balance Sheet Components Consolidated Balance Sheet Components
Inventory
Inventory consists of the following (in thousands):
As of December 31,
20242023
Raw materials$229 $2,247 
Work-in-progress26,695 11,780 
Finished goods16,291 10,068 
Total inventory$43,215 $24,095 
Property and Equipment, Net
Property and equipment, net consists of the following (in thousands):
As of December 31,

20242023
Construction in progress$29,064 $— 
Laboratory equipment10,467 6,470 
Office furniture353 242 
Leasehold improvements1,159 437 
Servers and workstations441 242 
Property and equipment, gross41,484 7,391 
Less: accumulated depreciation(5,833)(2,679)
Total property and equipment, net$35,651 $4,712 
Depreciation expense of $3.2 million, $1.8 million, and $0.8 million was recognized during the years ended December 31, 2024, 2023 and 2022, respectively. Construction in progress primarily includes production mask costs capitalized relating to the Company’s products and will be placed in service and begin to depreciate when related manufacturing commences.
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consists of the following (in thousands):
As of December 31,
20242023
Accrued compensation and benefits$29,516 $14,923 
Customer deposits15,000 — 
Accrued software license costs5,418 3,224 
Operating lease liabilities, current1,286 2,156 
Other current liabilities8,404 8,439 
Total accrued expenses and other current liabilities$59,624 $28,742