| Consolidated financial statement details |
The following section provides details of selected balance sheet items. Inventory | | | | | | | | | | | | | | | | (in thousands) | December 31, 2025 | | December 31, 2024 | Components | $ | 2,554 | | | $ | 19,407 | | Finished goods | 75,877 | | | 101,309 | | | Total inventory | $ | 78,431 | | | $ | 120,716 | |
Property and equipment, net | | | | | | | | | | | | | | | | | | | | | | (in thousands) | Useful life
(in years) | | December 31, 2025 | | December 31, 2024 | | Leasehold improvements | 1–9 | | $ | 24,014 | | | $ | 23,996 | | | Production, engineering, and other equipment | 4 | | 37,265 | | | 38,018 | | | Tooling | 1–2 | | 7,208 | | | 6,810 | | | Computers and software | 2 | | 8,064 | | | 12,574 | | | Furniture and office equipment | 3 | | 3,524 | | | 3,763 | | | Tradeshow equipment and other | 2–5 | | 1,424 | | | 1,424 | | | Construction in progress | | | 132 | | | 156 | | | Gross property and equipment | | | 81,631 | | | 86,741 | | | Less: Accumulated depreciation and amortization | | | (75,728) | | | (78,045) | | | Property and equipment, net | | | $ | 5,903 | | | $ | 8,696 | |
Depreciation expense was $5.2 million, $4.9 million, and $6.2 million in 2025, 2024, and 2023, respectively. Other long-term assets | | | | | | | | | | | | (in thousands) | December 31, 2025 | | December 31, 2024 | | | | | | Point of purchase (POP) displays | $ | 9,986 | | | $ | 14,715 | | | Deposits and other | 9,977 | | | 7,550 | | | Intangible assets, net | 4,078 | | | 5,953 | | | Long-term deferred tax assets | 581 | | | 765 | | | Other long-term assets | $ | 24,622 | | | $ | 28,983 | |
Amortization expense for POP displays was $7.0 million, $5.1 million, and $2.0 million in 2025, 2024, and 2023, respectively. Expenditures for POP displays were $2.3 million, $13.6 million, and $6.5 million in 2025, 2024, and 2023, respectively. Intangible assets | | | | | | | | | | | | | | | | | | | | | | | | | Useful life
(in months) | | December 31, 2025 | | (in thousands) | | | Gross carrying value | | Accumulated amortization | | Net carrying value | | Purchased technology | 20-72 | | $ | 58,566 | | | $ | (54,503) | | | $ | 4,063 | | | Domain name | | | 15 | | | — | | 15 | | | Total intangible assets | | | $ | 58,581 | | $ | (54,503) | | | $ | 4,078 |
| | | | | | | | | | | | | | | | | | | | | | | | | Useful life
(in months) | | December 31, 2024 | | (in thousands) | | | Gross carrying value | | Accumulated amortization | | Net carrying value | | Purchased technology | 20-72 | | $ | 58,566 | | | $ | (52,628) | | | $ | 5,938 | | | Domain name | | | 15 | | | — | | 15 | | | Total intangible assets | | | $ | 58,581 | | $ | (52,628) | | | $ | 5,953 |
Amortization expense was $1.9 million, $1.6 million, and zero for 2025, 2024, and 2023, respectively. As of December 31, 2025, expected amortization expense of intangible assets with definite lives for future periods was as follows: | | | | | | (in thousands) | Total | | Year ending December 31, | | | 2026 | $ | 1,875 | | | 2027 | 1,875 | | | 2028 | 313 | | | 2029 | — | | | 2030 | — | | | $ | 4,063 | |
Goodwill Changes to the carrying amount of goodwill during the year ended December 31, 2025 were as follows: | | | | | | | (in thousands) | Carrying Amount | | Carrying amount as of December 31, 2024 | $ | 152,351 | | | Goodwill impairment | (18,600) | | | Carrying amount as of December 31, 2025 | $ | 133,751 | |
Accrued expenses and other current liabilities | | | | | | | | | | | | | | (in thousands) | December 31, 2025 | | December 31, 2024 | | Accrued sales incentives | $ | 38,259 | | | $ | 53,997 | | | Accrued liabilities | 30,274 | | | 26,060 | | | Employee related liabilities | 8,255 | | | 7,401 | | | Warranty liabilities | 4,315 | | | 5,930 | | | Return liability | 3,293 | | | 4,913 | | | Inventory received | 3,423 | | | 2,010 | | | Customer deposits | 1,216 | | | 2,694 | | | Purchase order commitments | 1,343 | | | 1,504 | | | Other | 5,478 | | | 6,260 | | | Accrued expenses and other current liabilities | $ | 95,856 | | | $ | 110,769 | |
Product warranty | | | | | | | | | | | | | | | | | | | | | | | | | Year ended December 31, | (in thousands) | | | | | 2025 | | 2024 | | 2023 | | Beginning balance | | | | | $ | 6,207 | | | $ | 8,759 | | | $ | 8,319 | | | Charged to cost of revenue | | | | | 9,791 | | | 10,822 | | | 19,724 | | | Settlement of warranty claims | | | | | (11,405) | | | (13,374) | | | (19,284) | | | Warranty liability | | | | | $ | 4,593 | | | $ | 6,207 | | | $ | 8,759 | |
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| Intangible Assets Disclosure |
Intangible assets | | | | | | | | | | | | | | | | | | | | | | | | | Useful life
(in months) | | December 31, 2025 | | (in thousands) | | | Gross carrying value | | Accumulated amortization | | Net carrying value | | Purchased technology | 20-72 | | $ | 58,566 | | | $ | (54,503) | | | $ | 4,063 | | | Domain name | | | 15 | | | — | | 15 | | | Total intangible assets | | | $ | 58,581 | | $ | (54,503) | | | $ | 4,078 |
| | | | | | | | | | | | | | | | | | | | | | | | | Useful life
(in months) | | December 31, 2024 | | (in thousands) | | | Gross carrying value | | Accumulated amortization | | Net carrying value | | Purchased technology | 20-72 | | $ | 58,566 | | | $ | (52,628) | | | $ | 5,938 | | | Domain name | | | 15 | | | — | | 15 | | | Total intangible assets | | | $ | 58,581 | | $ | (52,628) | | | $ | 5,953 |
Amortization expense was $1.9 million, $1.6 million, and zero for 2025, 2024, and 2023, respectively. As of December 31, 2025, expected amortization expense of intangible assets with definite lives for future periods was as follows: | | | | | | (in thousands) | Total | | Year ending December 31, | | | 2026 | $ | 1,875 | | | 2027 | 1,875 | | | 2028 | 313 | | | 2029 | — | | | 2030 | — | | | $ | 4,063 | |
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