Balance Sheet Components

3 Months Ended

Mar. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

Balance Sheet Components

Cash and Cash Equivalents

The Company’s cash and cash equivalents consist of the following (in thousands):

	March 31, 2021		December 31, 2020
Cash	$	250,672	$	869
Cash equivalents:
Money market funds	6,493		10,493
Total cash and cash equivalents	$	257,165	$	11,362

Inventory

Inventory, consisting of material, direct and indirect labor, and manufacturing overhead, consists of the following (in thousands):

	March 31, 2021		December 31, 2020
Raw materials	$	1,965	$	1,376
Work in process	1,283		1,249
Finished goods	2,045		2,192
Total inventory	$	5,293	$	4,817

Total inventory balance as of March 31, 2021 and December 31, 2020 includes a write down of $2.2 million and $2.7 million, respectively, for obsolete, scrap, or returned inventory. During the three months ended March 31, 2021 and 2020, $0 and $1.5 million of inventory write offs were charged to cost of revenue.

Prepaid expenses and other current assets

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

	March 31, 2021		December 31, 2020
Prepaid insurance	$	1,920	$	206
Prepaid expenses	893		694
Receivable from contract manufacturer	1,241		1,521
Security deposit	43		20
Total prepaid and other current assets	$	4,097	$	2,441

Property and Equipment, net

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

	Estimated Useful Life (in years)	March 31, 2021		December 31, 2020
Machinery and equipment	3	$	5,519	$	5,084
Computer equipment	3	483		456
Automotive and vehicle hardware	5	93		93
Software	3	104		104
Furniture and fixtures	7	721		721
Leasehold improvements	Shorter of useful life or lease  term	9,265		9,265
		16,185		15,723
Less: Accumulated depreciation		(7,084)		(5,992)
Property and equipment, net		$	9,101	$	9,731

Depreciation expense associated with property and equipment was $1.1 million and $0.8 million in the three months ended March 31, 2021 and 2020, respectively.

Accrued and Other Current Liabilities

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

	March 31, 2021		December 31, 2020
Customer deposits	48		71
Accrued compensation	1,802		1,618
Uninvoiced receipts	2,007		1,947
Other	788		485
Total accrued and other current liabilities	$	4,645	$	4,121