Balance Sheet Components

9 Months Ended

Sep. 30, 2024

Balance Sheet Related Disclosures [Abstract]

7. Balance Sheet Components

The following tables present the components of certain balance sheet amounts (in thousands):


	September 30, 2024		December 31, 2023

Cash	$	58,911	$	175,620
Restricted cash—short term		2,450		2,705
Restricted cash—noncurrent		245		239
Total cash and restricted cash	$	61,606	$	178,564


	September 30, 2024			December 31, 2023

Accounts receivable	$	178,659		$	254,433
Due from Factor		—			283
Allowance for doubtful accounts		(557	)		(1,448	)
Accounts receivable, net (1)	$	178,102		$	253,268

(1)

As of September 30, 2024, one customer represented 46.5% of our accounts receivable, net balance. As of December 31, 2023, two customers represented 42.9% and 18.5% of our accounts receivable, net balance, respectively.


	September 30, 2024		December 31, 2023

Raw materials	$	58,040	$	64,576
Work in progress		7,166		5,204
Finished goods		227,799		170,392
Inventories	$	293,005	$	240,172


	September 30, 2024			December 31, 2023

Manufacturing equipment	$	33,253		$	28,168
Leasehold improvements		20,857			19,789
Computer equipment, software and office equipment		16,920			16,083
Furniture and fixtures		5,881			3,825
Total property and equipment	$	76,911		$	67,865
Less: Accumulated depreciation and amortization		(44,786	)		(35,653	)
Property and equipment, net	$	32,125		$	32,212


	September 30, 2024		December 31, 2023

Right-of-use assets	$	54,896	$	36,324
Deferred tax asset		5,569		27,749
Other		5,371		6,636
Other assets	$	65,836	$	70,709


	September 30, 2024		December 31, 2023

Accrued reserves for customer incentive programs	$	35,503	$	41,148
Accrued reserves for sales returns		33,394		36,822
Operating lease liabilities, current		15,693		9,721
Accrued payroll and related expenses		11,179		17,989
Accrued freight expenses		10,560		13,553
Accrued legal expense		7,112		1,014
Accrued warranty		7,040		7,155
Contract liabilities		3,866		7,442
Other		33,954		31,496
Other liabilities and accrued expenses	$	158,301	$	166,340


	September 30, 2024		December 31, 2023

Operating lease liabilities, noncurrent	$	50,544	$	38,587
Other		4,746		3,008
Other liabilities, noncurrent	$	55,290	$	41,595