5. Condensed Consolidated Balance Sheet Components

Inventory

Inventory is carried at the lower of cost or net realizable value. The following tables show the components of inventory:

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The Company reserved $1,683 and $1,531 in inventory allowance as of March 31, 2026 and December 31, 2025, respectively.

Property and Equipment

Property and equipment are stated at cost. Depreciation is computed using the straight-line method. Leasehold improvements are amortized over the shorter of the estimated lease term or useful life.

Property and equipment include capitalized costs to develop internal-use software. Applicable costs are capitalized during the development stage of the project and include direct internal costs, third-party costs and allocated interest expense as appropriate.

Property and equipment consisted of the following:

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During the three months ended March 31, 2026 and 2025, the Company transferred $99 and $44, respectively, of instruments previously classified as inventory to property and equipment leased to customers.

For the three months ended March 31, 2026 and 2025, the Company incurred depreciation and amortization expense of property and equipment of $1,030 and $1,086, respectively.

Intangible Assets

Intangible assets with finite lives consist of the following:

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The Company recognizes acquired intangible assets at fair value on the date of acquisition.  Intangible assets with finite lives are amortized over their useful lives using the straight-line method.  The Company recorded no impairment on its finite-lived intangibles for the three months ended March 31, 2026 and 2025.  

For the three months ended March 31, 2026 and 2025, the Company incurred amortization expense of intangible assets of $17 and $10, respectively.