Balance Sheet Components

9 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

Balance Sheet Components

Balance Sheet Components

Inventories consist of the following as of the periods indicated:

(in thousands)	September 30, 2023		December 31, 2022
Raw materials	$	23,793	$	38,373
Finished goods	51,085		71,283
Total inventories	$	74,878	$	109,656

As a result of the Company’s decision, with respect to Syndeo devices, to market and sell Syndeo 3.0 devices exclusively, the Company has designated all Syndeo 1.0 and 2.0 builds on-hand as obsolete, resulting in an inventory write-off of $18.8 million during the three months ended September 30, 2023. Refer to Note 15 – Restructuring Charges for further detail. The Company also identified $11.9 million in discontinued, excess, or obsolete inventory during the nine months ended September 30, 2023.

Accrued payroll-related expenses include the following as of the periods indicated:

(in thousands)	September 30, 2023		December 31, 2022
Accrued sales commissions	$	8,049	$	10,523
Accrued compensation	6,973		4,154
Accrued benefits	4,011		5,643
Accrued payroll taxes	1,719		1,357
Total accrued payroll-related expenses	$	20,752	$	21,677

Other accrued expenses include the following as of the periods indicated:

(in thousands)	September 30, 2023		December 31, 2022
Sales and VAT tax payables	$	7,196	$	4,904
Share repurchase	4,828		—
Accrued interest	4,688		2,344
Royalty liabilities	4,186		2,348
Note payable due seller	—		1,819
Other	9,593		3,768
Total other accrued expenses	$	30,491	$	15,183