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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An allowance of $1,797 and $1,531 as of June 30, 2026 and December 31, 2025, respectively, was recorded to reduce the value of inventory for items that are potentially obsolete due to expiry, product demand, or to adjust costs to their net realizable value.  

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 six months ended June 30, 2026 and 2025, the Company transferred $222 and $62, respectively, of instruments previously classified as inventory to property and equipment leased to customers. During the three and six months ended June 30, 2026, the Company committed to a plan to sell certain equipment. Accordingly, the assets met the criteria to be classified as held for sale and were written down to their estimated fair value less costs to sell.  As of June 30, 2026, assets held for sale of $200 are included within current assets on the condensed consolidated balance sheets.

For the three months ended June 30, 2026 and 2025, the Company incurred depreciation and amortization expense of property and equipment of $961 and $1,089, respectively.  For the six months ended June 30, 2026 and 2025, the Company incurred depreciation and amortization expense of property and equipment of $1,991 and $2,175, 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 and six months ended June 30, 2026 and 2025.  

For the three months ended June 30, 2026 and 2025, the Company incurred amortization expense of intangible assets of $17 and $12, respectively.  For the six months ended June 30, 2026 and 2025, the Company incurred amortization expense of intangible assets of $34 and $21, respectively.

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Accrued Expenses and other

Accrued expenses and other consist of the following:

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