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Balance Sheet Components
 9 Months Ended
Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Components Balance Sheet Components
Cash and Cash Equivalents
The Company’s cash and cash equivalents consist of the following (in thousands):
 September 30,
2024		December 31,
2023
Cash$27,345 $40,648 
Cash equivalents:
Money market funds(1)
17,043 7,354 
Commercial paper— 2,989 
Total cash and cash equivalents$44,388 $50,991 
(1)The Company maintains a cash sweep account, which is included in money market funds as of September 30, 2024 and December 31, 2023. Cash is invested in short-term money market funds that earn interest.
Restricted Cash
Restricted cash consists of collateral to merchant credit card, performance guarantee issued in favor of a customer, and certificates of deposit held by a bank as security for outstanding letters of credit. The Company had a restricted cash balance of $2.3 million and $1.6 million as of September 30, 2024 and December 31, 2023, respectively, which has been excluded from the Company’s cash and cash equivalents balances. The Company presented $0.4 million and $0.6 million of the total amount of restricted cash within current assets on the unaudited condensed consolidated balance sheets as of September 30, 2024 and December 31, 2023, respectively. The remaining restricted cash balance of $1.9 million and $1.1 million is included in non-current assets on the condensed consolidated balance sheets as of September 30, 2024 and December 31, 2023, respectively.
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the unaudited condensed consolidated balance sheets to the amounts reported in the unaudited condensed consolidated statements of cash flows (in thousands):
September 30,
2024		September 30,
2023
Cash and cash equivalents$44,388 $75,585 
Restricted cash, current439 540 
Restricted cash, non-current1,892 1,090 
Total cash, cash equivalents and restricted cash$46,719 $77,215 
Inventory
Inventory, consisting of material, direct and indirect labor, and manufacturing overhead, consists of the following (in thousands):
 September 30,
2024		December 31,
2023
Raw materials$5,248 $10,062 
Work in process63 75 
Finished goods13,314 13,095 
Total inventory$18,625 $23,232 
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consist of the following (in thousands):
September 30,
2024		December 31,
2023
Prepaid expenses$5,671 $5,377 
Prepaid insurance1,291 648 
Receivable from contract manufacturer2,190 2,028 
Insurance receivable— 23,375 
Other current assets2,100 3,219 
Total prepaid expenses and other current assets$11,252 $34,647 
The insurance receivable was settled in the three months ended September 30, 2024 (see Note 8).
Property and Equipment, Net
Property and equipment consists of the following (in thousands):
Estimated Useful Life
(in years)		September 30,
2024		December 31,
2023
Machinery and equipment3$12,029 $16,535 
Computer equipment3525 1,104 
Automotive and vehicle hardware593 22 
Software3589 593 
Furniture and fixtures7850 946 
Construction in progress5,112 3,572 
Leasehold improvementsShorter of useful life or lease term10,910 10,879 
30,108 33,651 
Less: Accumulated depreciation(21,272)(23,423)
Property and equipment, net$8,836 $10,228 
Depreciation expense associated with property and equipment was $2.6 million and $9.2 million during the nine months ended September 30, 2024 and 2023, respectively.
Intangible Assets, Net
The following tables present acquired intangible assets, net as of September 30, 2024 and December 31, 2023 (in thousands):
September 30, 2024
Estimated Useful Life
(in years)		Gross Carrying amountAccumulated AmortizationNet Book Value
Developed technology3-8$23,500 $(8,831)$14,669 
Vendor relationship
3
6,600 (6,417)183 
Customer relationships3-86,300 (1,980)4,320 
Intangible assets, net$36,400 $(17,228)$19,172 
December 31, 2023
Estimated Useful Life
(in years)		Gross Carrying amountAccumulated AmortizationNet Book Value
Developed technology3-8$23,500 $(5,948)$17,552 
Vendor relationship36,600 (4,767)1,833 
Customer relationships3-86,300 (1,249)5,051 
Intangible assets, net$36,400 $(11,964)$24,436 
Amortization expense was $5.3 million and $5.1 million during the nine months ended September 30, 2024 and 2023, respectively.
The following table summarizes estimated future amortization expense of finite-lived intangible assets-net (in thousands):
Years:Amount
2024 (the remainder of 2024)$1,342 
20254,513 
20263,774 
20273,682 
20282,779 
Thereafter3,082 
Total$19,172 
Accrued and Other Current Liabilities
Accrued and other current liabilities consist of the following (in thousands):
September 30,
2024		December 31,
2023
Accrued legal fees and contingencies$6,006 $28,415 
Uninvoiced receipts4,591 12,980 
Accrued compensation6,330 6,387 
Sales and use tax2,651 2,667 
Other9,329 7,717 
Total accrued and other current liabilities$28,907 $58,166 
The accrued legal contingency was settled in the three months ended September 30, 2024 (see Note 8).