Accounts Receivable and Allowance for Credit Losses (in thousands)


	June 30, 2026			December 31, 2025			December 31, 2024
Accounts receivable, net:
Accounts receivable, trade	$	4,384		$	5,218		$	4,909
Less allowance for credit losses		(18	)		(18	)		(157	)
Total accounts receivable, net	$	4,366		$	5,200		$	4,752

Changes to the allowance for credit losses during the six months ended June 30, 2026 and 2025 were as follows (in thousands):


	Allowance for Credit Losses
Balance as of January 1, 2025	$	(157	)
Provision for expected credit loss		—
Write-offs		49
Balance as of June 30, 2025		(108	)

Balance as of January 1, 2026		(18	)
Provision for expected credit loss		—
Write-offs		—
Balance as of June 30, 2026	$	(18	)

The Company’s analysis included an assessment of aged trade receivables balances and their underlying credit risk characteristics. The Company’s evaluation of past events, current conditions, and reasonable and supportable forecasts about the future resulted in an expectation of immaterial credit losses.

The components of inventories, net of reserve, are as follows (in thousands):


	June 30,		December 31,
	2026		2025
Inventory:
Raw materials	$	5,289	$	5,539
Work in process		170		663
Finished goods		1,556		1,626
Total inventory	$	7,015	$	7,828
Inventories current	$	5,202	$	5,448
Inventories non-current (included in other long-term assets)	$	1,813	$	2,380

Property and equipment, net consist of the following (in thousands):


	June 30, 2026			December 31, 2025
Computer and office equipment	$	2,200		$	2,707
Lab equipment		14,674			14,846
Service equipment placed at customer sites		22,765			22,608
Leasehold improvements		2,506			2,886
Total property and equipment, gross		42,145			43,047
Less accumulated depreciation and amortization		(29,128	)		(28,200	)
Total property and equipment, net	$	13,017		$	14,847

For the three months ended June 30, 2026 and 2025, the Company recorded depreciation expense of $1.0 million and $1.0 million, respectively, which includes an allocation to cost of revenue of $0.7 million and $0.6 million, respectively. For the six months ended June 30, 2026 and 2025, the Company recorded depreciation expense of $1.9 million and $2.1 million, respectively, which includes an allocation to cost of revenue of $1.3 million and $1.3 million, respectively.

Intangible assets that are subject to amortization consisted of the following at June 30, 2026 and December 31, 2025 (in thousands):


	June 30, 2026							December 31, 2025
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Trade name	$	1,000	$	(942	)	$	58	$	1,000	$	(842	)	$	158
Customer relationships		3,000		(2,825	)		175		3,000		(2,525	)		475
Developed technology		22,800		(21,470	)		1,330		22,800		(19,190	)		3,610
Intangibles, net	$	26,800	$	(25,237	)	$	1,563	$	26,800	$	(22,557	)	$	4,243

Intangible assets not subject to amortization totaled $0.1 million at June 30, 2026 and December 31, 2025 and related to the Company’s domain name.

Accrued expenses consist of the following (in thousands):


	June 30, 2026		December 31, 2025
Compensation expenses	$	2,201	$	3,537
Taxes payable		162		272
Insurance		16		502
Professional fees and royalties		66		89
Warranty liabilities		595		561
Other		416		499
Total	$	3,456	$	5,460

Compensation expenses include accrued restructuring costs of $0.2 million and $0.3 million as of June 30, 2026 and December 31, 2025, respectively. Refer to Note 7 (Commitments and Contingencies).