Balance Sheet Information

Cash, Cash Equivalents and Restricted Cash

The Company’s Condensed Consolidated Statement of Cash Flows explains the change in the total of cash, cash equivalents and restricted cash. The following table presents a reconciliation of cash, cash equivalents and restricted cash reported within the Condensed Consolidated Balance Sheets that sum to the total of such amounts presented. Short-term restricted cash is included in cash, cash equivalents and restricted cash, and non-current restricted cash is included in other assets, non-current on the Condensed Consolidated Balance Sheets.



	September 30, 2019		December 31, 2018
	(In thousands)
Cash and cash equivalents	$	29,696	$	21,955
Restricted cash, current	—		97
Restricted cash, non-current	101		86
Total cash, cash equivalents and restricted cash	$	29,797	$	22,138

The Company pledged cash in connection with certain stand-by letters of credit and Company credit cards. The Company deposited corresponding amounts into restricted accounts at several financial institutions.

Inventories

Inventories are stated at the lower of cost or net realizable value (using the first-in, first-out method). The following table presents inventories by category.



	September 30, 2019		December 31, 2018
	(In thousands)
Raw materials	$	3,947	$	2,238
Work in process	2,135		2,689
Finished goods	2,895		2,211
Inventories, net	$	8,977	$	7,138

Valuation adjustments for excess and obsolete inventory reflected as a reduction of inventory at September 30, 2019 and December 31, 2018 were $0.5 million and $0.7 million, respectively.

Accrued Expenses and Other Current Liabilities

The following table presents accrued expenses and other current liabilities by category.



	September 30, 2019		December 31, 2018
	(In thousands)
Payroll and commissions payable	$	5,273	$	5,843
Accrued warranty reserve	633		478
Other accrued expenses and current liabilities	2,613		2,176
Total accrued expenses and other current liabilities	$	8,519	$	8,497