v3.25.2
Other Balance Sheet Information
6 Months Ended
Jun. 30, 2025
Balance Sheet Related Disclosures [Abstract]  
Other Balance Sheet Information

NOTE 5. OTHER BALANCE SHEET INFORMATION

 

Inventory consisted of the following.

 

 

 

As of

 

 

 

June 30, 2025

 

 

December 31, 2024

 

Finished Goods

 

$

32,967

 

 

$

34,876

 

Raw Materials

 

 

385

 

 

 

385

 

Total inventory

 

$

33,352

 

 

$

35,261

 

 

The Company writes-down inventory for any excess or obsolete inventories or when the Company believes the net realizable value of inventories is less than the carrying value. During the three months ended June 30, 2025 and 2024, the Company recorded write-downs of $387 and $75, respectively. During the six months ended June 30, 2025 and 2024, the Company recorded write-downs of $594 and $171, respectively.

 

Prepaid expenses and other current assets consisted of the following.

 

 

 

As of

 

 

 

June 30, 2025

 

 

December 31, 2024

 

Prepaid expenses

 

$

7,759

 

 

$

7,867

 

Other current assets

 

 

7,035

 

 

 

4,014

 

Total prepaid expenses and other current assets

 

$

14,794

 

 

$

11,881

 

 

Property and equipment, net consisted of the following.

 

 

 

As of

 

 

 

June 30, 2025

 

 

December 31, 2024

 

Leasehold improvements

 

$

5,169

 

 

$

2,185

 

Computer hardware

 

 

2,320

 

 

 

2,469

 

Warehouse and other equipment

 

 

879

 

 

 

815

 

Furniture and fixtures

 

 

305

 

 

 

153

 

Property and equipment

 

 

8,673

 

 

 

5,622

 

Less: Accumulated depreciation

 

 

(3,090

)

 

 

(3,171

)

Total property and equipment, net

 

$

5,583

 

 

$

2,451

 

 

Depreciation and amortization expense on all property, plant and equipment was $170 and $195 during the three months ended June 30, 2025 and 2024, respectively. Depreciation and amortization expense on all property, plant and equipment was $359 and $377 during the six months ended June 30, 2025 and 2024, respectively. During the three months ended June 30, 2025, accumulated depreciation decreased due to the disposal of property and equipment.

 

Intangible assets, net consisted of the following.

 

 

 

As of

 

 

 

June 30, 2025

 

 

December 31, 2024

 

 

 

Gross

 

 

Accumulated Amortization

 

 

Net

 

 

Gross

 

 

Accumulated Amortization

 

 

Net

 

Customer relationships

 

$

22,990

 

 

$

(7,335

)

 

$

15,655

 

 

$

22,990

 

 

$

(6,223

)

 

$

16,767

 

Developed technology

 

 

10,600

 

 

 

(5,118

)

 

 

5,482

 

 

 

10,600

 

 

 

(4,383

)

 

 

6,217

 

Trade name

 

 

900

 

 

 

(599

)

 

 

301

 

 

 

900

 

 

 

(509

)

 

 

391

 

Total intangible assets, net

 

$

34,490

 

 

$

(13,052

)

 

$

21,438

 

 

$

34,490

 

 

$

(11,115

)

 

$

23,375

 

 

 

Amortization expense on all intangible assets was $968 for the three months ended June 30, 2025 and 2024. Amortization expense on all intangible assets was $1,937 for the six months ended June 30, 2025 and 2024. Total future amortization for finite-lived intangible assets is estimated as follows.

 

 

 

Amortization Expense

 

2025 - Remaining

 

$

1,937

 

2026

 

 

3,873

 

2027

 

 

3,734

 

2028

 

 

3,693

 

2029

 

 

2,554

 

Thereafter

 

 

5,647

 

Total

 

$

21,438

 

 

Other long-term assets consisted of the following.

 

 

 

As of

 

 

 

June 30, 2025

 

 

December 31, 2024

 

Capitalized software costs, net

 

$

9,994

 

 

$

9,463

 

Operating lease - ROU asset, net

 

 

3,360

 

 

 

3,808

 

Other long-term assets

 

 

2,802

 

 

 

3,088

 

Total other long-term assets

 

$

16,156

 

 

$

16,359

 

 

Amortization expense for capitalized software costs was $876 and $388 for the three months ended June 30, 2025 and 2024, respectively. Amortization expense for capitalized software costs was $1,617 and $711 for the six months ended June 30, 2025 and 2024, respectively.

 

Accrued expenses and other current liabilities consisted of the following.

 

 

As of

 

 

 

June 30, 2025

 

 

December 31, 2024

 

Accrued expenses

 

$

19,369

 

 

$

13,052

 

Accrued compensation costs

 

 

6,834

 

 

 

8,249

 

Accrued acquisition consideration

 

 

1,466

 

 

 

1,760

 

Warranty allowance

 

 

856

 

 

 

1,077

 

Other

 

 

2,063

 

 

 

3,107

 

Total accrued expenses and other current liabilities

 

$

30,588

 

 

$

27,245

 

 

Other long-term liabilities consisted of the following.

 

 

As of

 

 

 

June 30, 2025

 

 

December 31, 2024

 

Lease liability, noncurrent

 

$

6,415

 

 

$

7,021

 

Other long-term liabilities

 

 

96

 

 

 

100

 

Total other long-term liabilities

 

$

6,511

 

 

$

7,121