Financial Statement Components

3 Months Ended

Mar. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Financial Statement Components

Financial Statement Components

Cash and Cash Equivalents

Cash and cash equivalents consisted of the following (in thousands):

	March 31, 2021		December 31, 2020
Cash	$	21,440	$	10,652
Money market funds	19,035		64,971
U.S. Treasury	—		24,999
Commercial paper	166,255		108,322
Total cash and cash equivalents	$	206,730	$	208,944

Inventories, net

Inventories consisted of the following (in thousands):

	March 31, 2021		December 31, 2020
Raw materials	$	1,805	$	625
Work-in-process	520		52
Finished goods	958		2,936
Total inventories, net	$	3,283	$	3,613

The Company’s inventory write-down for the three months ended March 31, 2021 and 2020 were $0.3 million and $0.2 million, respectively.

Prepaid Expenses and Other Current Assets

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

	March 31, 2021		December 31, 2020
Prepaid expenses	$	8,012	$	1,073
Contract assets	1,221		—
Advance payments to vendors	196		961
Prepaid rent and other	—		503
Other receivables	942		2,260
Total prepaid expenses and other current assets	$	10,371	$	4,797

Property and Equipment

Property and equipment consisted of the following (in thousands):

	March 31, 2021		December 31, 2020
Computer hardware and software	$	2,559	$	2,450
Demonstration fleet and demonstration units	1,669		1,821
Machinery and equipment	6,596		5,940
Furniture and fixtures	293		293
Vehicles	856		835
Leasehold improvements	960		791
Construction in progress	1,841		1,410
Total property and equipment	14,774		13,540
Accumulated depreciation and amortization	(6,408)		(5,851)
Total property and equipment, net	$	8,366	$	7,689

Depreciation and amortization associated with property and equipment was $0.7 million and $0.6 million for the three months ended March 31, 2021 and 2020, respectively.

Property and equipment capitalized under finance lease (capital lease prior to adoption of ASC 842) consisted of the following (in thousands):

	March 31, 2021		December 31, 2020
Computer hardware and software	$	88	$	88
Machinery and equipment	838		838
Total property and equipment, gross	926		926
Less: accumulated depreciation	(261)		(219)
Total property and equipment, net	$	665	$	707

Other Non-Current Assets

Other non-current assets consisted of the following (in thousands):

	March 31, 2021		December 31, 2020
Security deposits	$	1,072	$	1,106
Other non-current assets	1,397		45
Total other non-current assets	$	2,469	$	1,151

Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following (in thousands): 

	March 31, 2021		December 31, 2020
Accrued expenses	$	3,654	$	3,998
Warranty liabilities	283		259
Contract liabilities	654		2,284
Accrued compensation and benefits	3,595		3,071
Contract losses	452		558
Finance lease (capital lease prior to adoption of ASC 842) liabilities, current	281		282
Total accrued and other current liabilities	$	8,919	$	10,452

Other Non-Current Liabilities

Other non-current liabilities consisted of the following (in thousands): 

	March 31, 2021		December 31, 2020
Deferred rent	$	—	$	826
Finance lease (capital lease prior to adoption of ASC 842) liabilities, non-current	263		331
Other non-current liabilities	973		161
Total other non-current liabilities	$	1,236	$	1,318