FINANCIAL STATEMENT COMPONENTS

3 Months Ended

Mar. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

FINANCIAL STATEMENT COMPONENTS

8. FINANCIAL STATEMENT COMPONENTS

Inventory

Inventory consists of the following (in thousands):

	March 31,		December 31,
	2025		2024
Raw materials	$	1,823	$	1,616
Finished goods		711		678
	$	2,534	$	2,294

Inventory is computed using the first-in, first-out (FIFO) method and is stated at the lower of cost and net realizable value. Management periodically assesses the need to account for obsolescence of inventory and adjusts the carrying value of inventory to its net realizable value when required.

Property and Equipment

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

	March 31,			December 31,
	2025			2024
Production equipment	$	6,140		$	6,140
Leasehold improvements		3,959			3,957
Computer hardware and software/lab equipment		12,244			12,211
Office furniture and equipment		5,191			4,973
		27,534			27,281
Less: Accumulated depreciation		(20,718	)		(20,220	)
	$	6,816		$	7,061

Depreciation expense was $0.4 million and $0.6 million for the three months ended March 31, 2025 and 2024, respectively.

Intangible Assets

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

	Gross				Accumulated		Net		Weighted Average
	Carrying		Accumulated		Impairment		Carrying		Remaining
As of March 31, 2025	Amount		Amortization		Expense		Amount		Period (Years)
Acquired technology	$	20,172		5,252		4,181		10,739		13
Total	$	20,172	$	5,252	$	4,181	$	10,739

	Gross				Accumulated		Net		Weighted Average
	Carrying		Accumulated		Impairment		Carrying		Remaining
As of December 31, 2024	Amount		Amortization		Expense		Amount		Period (Years)
Acquired technology	$	20,172	$	5,019	$	4,181	$	10,972		13
Total	$	20,172	$	5,019	$	4,181	$	10,972

Amortization expense was $0.2 million and $0.6 million during the three months ended March 31, 2025 and 2024, respectively.

The following table outlines our estimated future amortization expense related to intangible assets held as of March 31, 2025 by line item on the condensed consolidated statement of operations (in thousands):

			Research and
	Cost of		Development
Years Ended December 31,	Revenue		Expense		Total
2025 (remainder of the year)	$	652	$	36	$	688
2026		869		28		897
2027		829		2		831
2028		825		-		825
2029		825		-		825
Thereafter		6,673		-		6,673
Total	$	10,673	$	66	$	10,739