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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Schedule of Revenue and Accounts Receivable Concentration The following table presents total revenue and accounts receivable concentration for the periods presented or as of the dates presented:

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Avery Dennison(1)

 

 

32

%

 

 

31

%

 

 

39

%

North American logistics provider

 

*

 

 

 

14

 

 

*

 

Arizon

 

 

10

 

 

*

 

 

 

10

 

 

 

 

42

%

 

 

45

%

 

 

49

%

* Less than 10%

 

 

 

 

 

 

 

 

 

 

 

 

(1) Includes concentration of revenue related to Smartrac NV, or Smartrac. In March 2020, Avery Dennison completed an acquisition of Smartrac.

 

 

 

 

 

 

 

 

 

As of December 31,

 

 

 

2020

 

 

2019

 

Accounts Receivable:

 

 

 

 

 

 

 

 

Avery Dennison(1)

 

 

21

%

 

 

28

%

Arizon

 

 

17

 

 

*

 

Xindeco

 

 

12

 

 

*

 

Blue Star

 

*

 

 

 

18

 

 

 

 

50

%

 

 

46

%

* Less than 10%

 

 

 

 

 

 

 

 

(1) Includes concentration of accounts receivable related to Smartrac.

 

 

Summary of Allowance for Sales Returns The following table summarizes our allowance for sales returns (in thousands):

 

 

 

Balance at Beginning of Year

 

 

Additional Reserve

 

 

Applied Sales Return

 

 

Balance at End of Year

 

Allowance for sales returns and price exceptions:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

During year ended December 31, 2020

 

$

1,072

 

 

$

1,109

 

 

$

(1,775

)

 

$

406

 

During year ended December 31, 2019

 

 

373

 

 

 

2,939

 

 

 

(2,240

)

 

 

1,072

 

During year ended December 31, 2018

 

 

3,495

 

 

 

1,426

 

 

 

(4,548

)

 

 

373

 

Schedule of Property and Equipment Estimated Useful Lives

We record property and equipment at cost and depreciate it using the straight-line method over the estimated useful lives of the related assets. The useful lives are as follows:

Category

 

Useful Life

 

 

Laboratory equipment

 

3 to 10 years

 

 

Computer equipment and software

 

3 to 5 years

 

 

Furniture and fixtures

 

3 to 7 years

 

 

Equipment acquired under finance leases

 

3 to 7 years

 

 

Leasehold improvements

 

Shorter of remaining lease term or expected useful life