Annual report pursuant to Section 13 and 15(d)

Significant Balance Sheet Components

v3.20.4
Significant Balance Sheet Components
12 Months Ended
Dec. 31, 2020
Significant Balance Sheet Components [Abstract]  
Significant Balance Sheet Components

NOTE 4 —Significant Balance Sheet Components

Inventory consisted of the following:

 

 

 

December 31

 

 

 

2020

 

 

2019

 

Devices - for resale

 

$

7,792

 

 

$

13,559

 

Raw materials

 

 

2,590

 

 

 

4,522

 

Accessories

 

 

962

 

 

 

1,450

 

 

 

$

11,344

 

 

$

19,531

 

 

During the year ended December 31, 2020, the Company recorded an inventory reserve adjustment of $.07 million as a result of aging materials and finished goods and accrued a loss of $0.5 million of purchase commitments in connection with end-of-life products.

 

During the year ended December 31, 2019, the Company recorded an inventory reserve adjustment of $3.1 million as a result of aging materials and finished goods and accrued a loss of $0.7 million of purchase commitments in connection with end-of-life products

 

Prepaids and other current assets consisted of the following:

 

 

 

December 31

 

 

 

2020

 

 

2019

 

Deposits for manufacturing inventory

 

$

1,133

 

 

$

897

 

Prepaid taxes

 

 

641

 

 

 

1,031

 

Refundable value added taxes

 

 

509

 

 

 

1,376

 

Prepaid – NRE

 

 

2,629

 

 

 

 

Prepaid licenses and royalties

 

 

728

 

 

 

761

 

Director and officer insurance

 

 

862

 

 

 

604

 

Prepaid parts (direct buy)

 

 

167

 

 

 

536

 

Other

 

 

1,076

 

 

 

1,225

 

 

 

$

7,481

 

 

$

6,430

 

 

Property and equipment consisted of the following:

 

 

 

December 31

 

 

 

2020

 

 

2019

 

Computer equipment

 

$

4,858

 

 

$

5,087

 

Software

 

 

981

 

 

 

981

 

Furniture, fixtures, and office equipment

 

 

175

 

 

 

175

 

Leasehold Improvements

 

 

179

 

 

 

179

 

 

 

 

6,193

 

 

 

6,422

 

Less: accumulated depreciation and amortization

 

 

(5,350

)

 

 

(4,980

)

 

 

$

843

 

 

$

1,442

 

 

Depreciation expense of property and equipment for the years ended December 31, 2020 and 2019, was $426 and $621, respectively.

 

Accrued Expenses consisted of the following:

 

 

 

December 31

 

 

 

2020

 

 

2019

 

Customer allowances

 

$

3,042

 

 

$

2,647

 

Employee-related liabilities

 

 

2,273

 

 

 

1,873

 

Warranties

 

 

1,530

 

 

 

1,154

 

Accrual for goods received not invoiced

 

 

1,942

 

 

 

1,047

 

Contractual obligations

 

 

849

 

 

 

1,230

 

Royalties

 

 

655

 

 

 

657

 

Contractors

 

 

55

 

 

 

285

 

Research and development

 

 

61

 

 

 

271

 

Shipping

 

 

170

 

 

 

120

 

Interest

 

 

11

 

 

 

33

 

Legal

 

 

320

 

 

 

97

 

Other

 

 

528

 

 

 

851

 

 

 

$

11,436

 

 

$

10,265

 

 

The table below sets forth the activity in the warranty liability account, which is included in accrued expenses on the Consolidated Balance Sheets for the years ended December 31, 2020 and 2019:

 

Balance, January 1, 2020

 

$

1,154

 

Additions

 

 

2,088

 

Cost of warranty claims

 

 

(1,712

)

Balance, December 31, 2020

 

$

1,530

 

 

 

 

 

 

Balance, January 1, 2019

 

$

1,103

 

Additions

 

 

1,157

 

Cost of warranty claims

 

 

(1,106

)

Balance, December 31, 2019

 

$

1,154