v3.25.4
Balance Sheet Components
 12 Months Ended
Dec. 31, 2025
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):
December 31,
20252024
Cash$68,713 $64,289 
Cash equivalents: 
Money market funds
1,038 6,616 
Total cash and cash equivalents$69,751 $70,905 
Inventory
Inventory consists of the following (in thousands):
December 31,
20252024
Raw materials$4,872 $3,406 
Work in process529 457 
Finished goods14,048 14,733 
Total inventory$19,449 $18,596 
Reported as:
Inventory$15,845 $16,915 
Long-term inventory3,604 1,681 
Total inventory$19,449 $18,596 
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consist of the following (in thousands):
December 31,
20252024
Prepaid expenses$1,927 $1,827 
Prepaid insurance749 847 
VAT and other receivable591 671 
Other current assets491 1,129 
Total prepaid expenses and other current assets$3,758 $4,474 
Capitalized Implementation Costs of a Hosting Arrangement
The Company has several software systems that are cloud-based hosting arrangements with service contracts. The Company accounts for costs incurred in connection with the implementation of these various software systems under ASU 2018-15, Intangibles—Goodwill and Other—Internal Use Software (Subtopic 350–40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. The Company expenses all costs (internal and external) that are incurred in the planning and post-implementation operation stages. As of December 31, 2025 and December 31, 2024, the Company has capitalized approximately $0.9 million and $0.5 million in implementation costs, net of amortization, respectively. The capitalized costs are amortized on a straight-line basis over the non-cancelable contract terms, which are generally three to five years. As of December 31, 2025, the capitalized costs of $0.2 million and $0.7 million were included in prepaid expenses and other current assets, and other long-term assets, respectively. Amortization expense, which was included in selling, general and administrative expenses, was $0.1 million and $0.1 million for the years ended December 31, 2025 and December 31, 2024, respectively.
Property and Equipment, Net
Property and equipment, net consist of the following (in thousands):
December 31,
20252024
Machinery and equipment$2,547 $2,345 
Computer equipment and software3,600 3,468 
Furniture and fixtures336 294 
Leasehold improvements2,336 2,318 
Construction in progress51 206 
Total8,870 8,631 
Less: accumulated depreciation(6,650)(5,724)
Property and equipment, net$2,220 $2,907 
In 2024, the Company recorded a non-cash impairment charge of $1.7 million related to certain previously capitalized software development costs that reduced the carrying value of those assets to zero. The impairment charge was recorded in research and development expenses on the Company’s consolidated statements of operations and comprehensive loss. This impairment charge was primarily driven by the Company’s strategic decision to adopt a more cost-efficient solution in place of completing the development of the internally developed software.
Depreciation expense for the years ended December 31, 2025 and December 31, 2024 was $1.1 million and $1.1 million, respectively.
Goodwill
Goodwill was $2.3 million as of December 31, 2025 and December 31, 2024. No goodwill impairment losses have been recognized since the acquisition. There were no acquisitions or dispositions of goodwill for the years ended December 31, 2025 or December 31, 2024. The Company performed an annual test for goodwill impairment in the fourth quarter of the fiscal years ended December 31, 2025 and December 31, 2024 and determined that goodwill was not impaired.
Accrued Liabilities
Accrued liabilities consist of the following (in thousands):
December 31,
20252024
Accrued employee bonuses and commissions$3,549 $6,894 
Accrued vacation2,846 2,555 
Other accrued personnel related expenses3,181 2,727 
Accrued professional fees3,022 2,455 
Sales taxes, franchise tax and VAT1,011 827 
Other947 1,014 
Total accrued liabilities$14,556 $16,472