Balance Sheet Components

12 Months Ended

Dec. 31, 2022

6. Balance Sheet Components

Cash and cash equivalents

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


	December 31,		December 31,
		2022		2021
Cash	$	3,793	$	2,086
Cash equivalents:
Money market funds		3,149		38,522
Total cash and cash equivalents	$	6,942	$	40,608

Inventory

Inventory consists of the following (in thousands):


	December 31,		December 31,
		2022		2021
Finished goods	$	7,142	$	9,495
Component materials		9,708		6,187
Total inventory	$	16,850	$	15,682

Prepaid expenses and other current assets

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


	December 31,		December 31,
		2022		2021
Prepaid expenses	$	2,164	$	1,264
Prepaid insurance		1,560		2,726
Other current assets		755		149
Total prepaid expenses and other current assets	$	4,479	$	4,139

Property and equipment, net

Property and equipment, net consist of the following (in thousands):


		December 31,		December 31,
	Useful life (years)		2022		2021
Computers and software	2	$	343	$	730
Machinery and equipment	3		664		997
Furniture and fixtures	7		48		48
Tools and dies	2		900		941
Construction in progress	—		131		428
Equipment under customer usage agreements	3		13,226		10,612
Leasehold improvements	Lesser of useful life or lease term		155		155
			15,467		13,911
Less: accumulated depreciation and amortization			(10,425)		(9,317)
Property and equipment, net		$	5,042	$	4,594

Depreciation and amortization expense on property and equipment was $2.6 million and $2.4 million, for the years ended December 31, 2022 and 2021, respectively. Of this amount, $2.3 million and $2.1 million, for the years ended December 31, 2022 and 2021, respectively, was related to equipment under customer usage agreements recorded to cost of goods sold.

Intangible assets, net

Intangible asset, net consist of the following (in thousands):


		December 31, 2022
	Remaining life (years)	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Trademarks	3.9	$	3,969	$	(1,603)	$	2,366
Developed technology	0.4		30,819		(8,090)		22,729
Customer relationships	7.4		13,466		(11,783)		1,683
Other intangible assets	—		—		—		—
Total intangible assets		$	48,254	$	(21,476)	$	26,778


		December 31, 2021
	Remaining life (years)	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Trademarks	4.9	$	3,969	$	(992)	$	2,977
Developed technology	1.4		30,819		(5,008)		25,811
Customer relationships	8.4		13,466		(7,294)		6,172
Other intangible assets	—		10		—		10
Total intangible assets		$	48,264	$	(13,294)	$	34,970

Amortization expense on intangible assets was $8.2 million for the years ended December 31, 2022 and 2021.

The weighted average amortization period for intangible assets was 6.7 years as of December 31, 2022. Future amortization expense of intangible assets as of December 31, 2022 is as follows (in thousands):



2023	$	5,376
2024		3,693
2025		3,693
2026		3,614
2027		3,082
Thereafter		7,320
Total	$	26,778

Accrued compensation

Accrued compensation consists of the following (in thousands):


	December 31,		December 31,
		2022		2021
Accrued vacation	$	1,559	$	1,469
Accrued bonuses		1,248		1,307
Accrued commissions		730		665
Other accrued personnel related expenses		164		77
Total accrued compensation	$	3,701	$	3,518

Accrued liabilities

Accrued liabilities consist of the following (in thousands):


	December 31,		December 31,
		2022		2021
Accrual for litigation	$	2,000	$	7,203
Accrued professional fees		643		974
Accrued sales and use taxes		271		657
Deferred rent		—		277
Accrual for inventory in transit		663		119
Contract liability		339		206
Accrued interest expense		321		189
Others		1,287		1,037
Total accrued liabilities	$	5,524	$	10,662