v3.26.1
Consolidated Balance Sheet Components
12 Months Ended
Dec. 31, 2025
Consolidated Balance Sheet Components  
Consolidated Balance Sheet Components

5. Consolidated Balance Sheet Components

Inventory

The following tables show the components of inventory:

  ​ ​ ​

December 31, 

  ​ ​ ​

December 31, 

2025

2024

Raw materials inventory

$

3,864

$

4,717

Finished goods inventory

 

3,182

 

3,927

Work in progress

501

270

Total inventory

$

7,547

$

8,914

The Company recorded an allowance for obsolete inventory of $1,531 and $1,771 at December 31, 2025 and 2024, respectively.

Property and Equipment, Net

Property and equipment, net comprised the following:

  ​ ​ ​

December 31, 

  ​ ​ ​

December 31, 

2025

2024

Leasehold improvements

$

14,787

$

14,727

Furniture and equipment

12,542

11,946

Internal-use software

 

4,635

 

4,349

Instruments

 

1,923

 

2,005

Construction in process

 

908

 

272

Accumulated depreciation and amortization

 

(17,264)

 

(13,592)

Property and equipment, net

$

17,531

$

19,707

For the years ended December 31, 2025 and 2024, the Company transferred $116 and $182, respectively, of instruments previously classified as inventory to property and equipment licensed to customers.

For the years ended December 31, 2025 and 2024, the Company incurred depreciation and amortization expense of property and equipment of $4,287 and $4,315, respectively.

Maintenance and repairs are charged to expense as incurred.

Intangible Assets

Intangible assets with finite lives as of December 31, 2025 consist of the following and result from the acquisition of SeQure discussed in Note 10:

  ​ ​ ​

Gross

Accumulated

Net

Weighted Average Life

Carrying Amount

Amortization

Carrying Amount

Developed technology

15 years

$

471

$

(28)

$

443

Trade names

10 years

176

(17)

159

Customer relationships

7 years

 

56

 

(8)

 

48

Total intangible assets

$

703

$

(53)

$

650

The Company recorded no impairment on its finite-lived intangibles for the year ended December 31, 2025. The Company did not have acquired intangible assets during the year ended December 31, 2024. For the year ended December 31, 2025, the Company recorded amortization expense of $53.