Financial Statement Components (Tables)

3 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Cash and Cash Equivalents

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

	March 31, 2023		December 31, 2022
Cash	$	25,904	$	27,496
Money market funds	34,202		42,056
U.S. treasury securities	29,827		—
Total cash and cash equivalents	$	89,933	$	69,552

Schedule of Inventories, net

Inventory comprised of the following (in thousands):

	March 31, 2023		December 31, 2022
Raw materials	$	8,066	$	3,614
Work-in-process	3,706		2,329
Finished goods	3,146		2,849
Total inventories, net	$	14,918	$	8,792

Schedule of Prepaid Expenses and Other Current Assets

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

	March 31, 2023		December 31, 2022
Prepaid expenses	$	14,729	$	15,653
Contract assets	7,904		15,395
Advance payments to vendors	5,394		7,919
Other receivables	5,832		5,236
Total prepaid expenses and other current assets	$	33,859	$	44,203

Schedule of Property and Equipment

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

	March 31, 2023		December 31, 2022
Machinery and equipment	$	25,817	$	14,047
Computer hardware and software	7,978		6,797
Land	1,001		1,001
Leasehold improvements	19,359		885
Vehicles, including demonstration fleet	3,357		3,222
Furniture and fixtures	817		818
Construction in progress	32,143		13,642
Total property and equipment	90,472		40,412
Accumulated depreciation and amortization	(12,077)		(10,152)
Total property and equipment, net	$	78,395	$	30,260

Schedule of Finite-Lived Intangible Assets

The following table summarizes the activity in the Company’s intangible assets (in thousands):

	March 31, 2023		December 31, 2022
Beginning of the period	$	22,077	$	2,424
Additions	8,240		21,890
Amortization	(1,062)		(2,237)
End of the period	$	29,255	$	22,077

The components of intangible assets were as follows (in thousands):

	March 31, 2023							December 31, 2022
	Gross Carrying  Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Period (Years)	Gross Carrying  Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Period (Years)
Customer relationships	$	3,730	$	(867)	$	2,863	4.2	$	3,730	$	(664)	$	3,066	4.4
Customer backlog	650		(390)		260		0.7	650		(292)		358		0.9
Tradename	620		(245)		375		3.0	620		(214)		406		3.3
Assembled workforce	130		(130)		—		—	130		(130)		—		—
Developed technology	20,150		(1,893)		18,257		6.3	11,910		(1,163)		10,747		7.5
IPR&D	7,500		—		7,500		—	7,500		—		7,500		—
Total intangible assets	$	32,780	$	(3,525)	$	29,255	5.9	$	24,540	$	(2,463)	$	22,077	6.6

Schedule of Future Amortization Expense

As of March 31, 2023, the expected future amortization expense for intangible assets was as follows (in thousands):

Period	Expected Future Amortization Expense
2023 (remaining nine months)	$	3,261
2024	4,001
2025	4,001
2026	3,354
2027	3,138
Thereafter	4,000
IPR&D	7,500
Total	$	29,255

Schedule of Goodwill

The carrying amount of goodwill allocated to the Company’s reportable segments was as follows (in thousands):

	Autonomy Solutions		ATS		Total
Balance as of December 31, 2022	$	687	$	18,129	$	18,816
Goodwill related to acquisition of Seagate’s lidar business (see Note 3)	1,063		—		1,063
Balance as of March 31, 2023	$	1,750	$	18,129	$	19,879

Schedule of Other Noncurrent Assets

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

	March 31, 2023		December 31, 2022
Security deposits	$	5,078	$	5,495
Non-marketable equity investment	4,000		4,000
Advance payment for capital projects	—		27,683
Contract assets	5,985		2,575
Other non-current assets	423		591
Total other non-current assets	$	15,486	$	40,344

Schedule of Accrued and Other Current Liabilities

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

	March 31, 2023		December 31, 2022
Accrued compensation and benefits	$	21,639	$	16,682
Accrued expenses	24,592		22,358
Warranty reserves	4,170		3,584
Contract liabilities	4,558		1,993
Accrued interest payable	2,286		359
Contract losses	6,890		7,526
Other	527		460
Total accrued and other current liabilities	$	64,662	$	52,962