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Other Balance Sheet Information
6 Months Ended
Jun. 30, 2023
Balance Sheet Related Disclosures [Abstract]  
Other Balance Sheet Information

NOTE 5. OTHER BALANCE SHEET INFORMATION

 

Inventory consisted of the following.

 

 

 

As of

 

 

 

June 30, 2023

 

 

December 31, 2022

 

Finished Goods

 

$

60,116

 

 

$

74,276

 

Raw Materials

 

 

390

 

 

 

1,449

 

Total inventory

 

$

60,506

 

 

$

75,725

 

 

 

The Company writes-down inventory for any excess or obsolete inventories or when the Company believes the net realizable value of inventories is less than the carrying value. During the three months ended June 30, 2023, the Company recorded write-downs of $207. There were no write-downs recorded for the three months ended June 30, 2022. During the six months ended June 30, 2023, and 2022, the Company recorded write-downs of $273 and $22, respectively.

 

Prepaid expenses and other current assets consisted of the following.

 

 

 

As of

 

 

 

June 30, 2023

 

 

December 31, 2022

 

Prepaid expenses

 

$

6,985

 

 

$

5,042

 

Other current assets

 

 

9,453

 

 

 

4,140

 

Total prepaid expenses and other current assets

 

$

16,438

 

 

$

9,182

 

Property and equipment, net consisted of the following.

 

 

 

As of

 

 

 

June 30, 2023

 

 

December 31, 2022

 

Computer hardware

 

$

2,199

 

 

$

2,192

 

Leasehold improvements

 

 

716

 

 

 

698

 

Warehouse and other equipment

 

 

680

 

 

 

632

 

Furniture and fixtures

 

 

146

 

 

 

163

 

Property and equipment

 

 

3,741

 

 

 

3,685

 

Less: Accumulated depreciation

 

 

(2,016

)

 

 

(1,616

)

Total property and equipment, net

 

$

1,725

 

 

$

2,069

 

 

Depreciation and amortization expense on all property, plant and equipment was $197 and $170 during the three months ended June 30, 2023 and 2022, respectively. Depreciation and amortization expense on all property, plant and equipment was $400 and $360 during the six months ended June 30, 2023 and 2022, respectively.

 

Intangible assets, net consisted of the following.

 

 

 

As of

 

 

 

June 30, 2023

 

 

December 31, 2022

 

 

 

Gross

 

 

Accumulated Amortization

 

 

Net

 

 

Gross

 

 

Accumulated Amortization

 

 

Net

 

Customer relationships

 

$

22,990

 

 

$

(2,890

)

 

$

20,100

 

 

$

22,990

 

 

$

(1,778

)

 

$

21,212

 

Developed technology

 

 

10,600

 

 

 

(2,176

)

 

 

8,424

 

 

 

10,600

 

 

 

(1,440

)

 

 

9,160

 

Trade name

 

 

900

 

 

 

(239

)

 

 

661

 

 

 

900

 

 

 

(149

)

 

 

751

 

Total intangible assets, net

 

$

34,490

 

 

$

(5,305

)

 

$

29,185

 

 

$

34,490

 

 

$

(3,367

)

 

$

31,123

 

 

Amortization expense on all intangible assets was $969 and $1,056 for the three months ended June 30, 2023 and 2022, respectively. Amortization expense on all intangible assets was $1,938 and $1,275 for the six months ended June 30, 2023 and 2022, respectively. Total future amortization for finite-lived assets is estimated as follows.

 

 

 

Amortization Expense

 

2023 - Remaining

 

$

1,937

 

2024

 

 

3,873

 

2025

 

 

3,873

 

2026

 

 

3,873

 

2027

 

 

3,734

 

Thereafter

 

 

11,895

 

Total

 

$

29,185

 

 

 

Other long-term assets consisted of the following.

 

 

 

As of

 

 

 

June 30, 2023

 

 

December 31, 2022

 

Capitalized software costs

 

$

5,027

 

 

$

3,066

 

Operating lease - ROU asset, net

 

 

3,243

 

 

 

3,968

 

Restricted cash, long-term portion

 

 

247

 

 

 

247

 

Other long-term assets

 

 

1,830

 

 

 

2,240

 

Total other long-term assets

 

$

10,347

 

 

$

9,521

 

 

Amortization expense on all other long-term intangible assets was $176, which is primarily related to capitalized software costs, for the three months ended June 30, 2023 and was recorded in general and administrative expenses on the Consolidated Statements of Operations and Comprehensive Loss. There was no such amortization expense recorded during the three months ended June 30, 2022. Amortization expense on all other long-term intangible assets was $258, which is primarily related to capitalized software costs, for the six months ended June 30, 2023 and was recorded in general and administrative expenses on the Consolidated Statements of Operations and Comprehensive Loss. There was no such amortization expense recorded during the six months ended June 30, 2022.

 

Accrued expenses and other current liabilities consisted of the following.

 

 

 

As of

 

 

 

June 30, 2023

 

 

December 31, 2022

 

Accrued compensation costs

 

$

6,521

 

 

$

14,157

 

Accrued expenses

 

 

5,995

 

 

 

8,571

 

Warranty allowance

 

 

1,735

 

 

 

2,277

 

Other

 

 

7,152

 

 

 

9,391

 

Total accrued expenses and other current liabilities

 

$

21,403

 

 

$

34,396