Balance Sheet Components (Tables)
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6 Months Ended |
Jun. 30, 2024 |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
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| Summary of Gross Unrealized Gains and Unrealized Losses of Investment Securities Excluding Investments in Money Market Funds |
The following is a summary of the gross unrealized gains and unrealized losses on the Company’s investment securities, excluding investments in money market funds (in thousands):
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June 30, 2024 |
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Amortized
Cost |
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Gross
Unrealized
Holding
Gains |
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Gross
Unrealized
Holding
Losses |
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Aggregate
Fair Value |
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Investment Securities |
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Agency bonds |
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$ |
20,976 |
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$ |
1 |
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$ |
(11 |
) |
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$ |
20,966 |
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Treasury bonds |
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|
178,433 |
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19 |
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(427 |
) |
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|
178,025 |
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Total securities |
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$ |
199,409 |
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$ |
20 |
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$ |
(438 |
) |
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$ |
198,991 |
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December 31, 2023 |
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Amortized
Cost |
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Gross
Unrealized
Holding
Gains |
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Gross
Unrealized
Holding
Losses |
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Aggregate
Fair Value |
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Investment Securities |
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Agency bonds |
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$ |
99,076 |
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$ |
68 |
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$ |
(90 |
) |
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$ |
99,054 |
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Commercial paper |
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22,369 |
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5 |
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— |
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22,374 |
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Corporate notes |
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3,491 |
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— |
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(1 |
) |
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3,490 |
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Treasury bonds |
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|
93,312 |
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|
317 |
|
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(41 |
) |
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|
93,588 |
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Total securities |
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$ |
218,248 |
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|
$ |
390 |
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|
$ |
(132 |
) |
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$ |
218,506 |
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| Summary of Contractual Maturities of Investment Securities |
The contractual maturities of the Company’s investment securities as of June 30, 2024 were as follows (in thousands):
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Amortized Cost |
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Fair Value |
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Amounts maturing within one year |
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$ |
125,126 |
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$ |
124,995 |
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Amounts maturing after one year through five years |
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74,283 |
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|
73,996 |
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Total investment securities |
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$ |
199,409 |
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$ |
198,991 |
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| Components of Inventories |
Inventories (in thousands)
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June 30, |
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December 31, |
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2024 |
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2023 |
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Raw materials |
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$ |
55,762 |
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$ |
64,974 |
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Work in process |
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12,490 |
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2,149 |
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Finished goods |
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57,844 |
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51,553 |
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Total inventories |
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$ |
126,096 |
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$ |
118,676 |
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| Schedule of Property and Equipment, Net and Depreciation and Amortization Expense |
Property and Equipment, Net (in thousands)
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June 30, |
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December 31, |
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2024 |
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2023 |
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Laboratory and manufacturing equipment |
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$ |
16,084 |
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$ |
15,414 |
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Computer equipment and software |
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15,710 |
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15,451 |
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Internally developed software |
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10,855 |
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8,831 |
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Furniture and fixtures |
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4,781 |
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4,745 |
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Leasehold improvements |
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10,933 |
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10,924 |
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Construction in process |
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5,930 |
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4,865 |
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Total |
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64,293 |
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60,230 |
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Less: Accumulated depreciation and amortization |
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(39,734 |
) |
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(35,662 |
) |
Property and equipment, net |
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$ |
24,559 |
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$ |
24,568 |
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The Company recognized depreciation and amortization expense on property and equipment as follows (in thousands):
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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Depreciation and amortization expense |
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$ |
2,014 |
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$ |
1,671 |
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$ |
4,066 |
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$ |
3,212 |
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| Summary of Accrued Liabilities |
Accrued Liabilities (in thousands)
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June 30, |
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December 31, |
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|
2024 |
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|
2023 |
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Accrued payroll and related expenses |
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$ |
20,452 |
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$ |
31,715 |
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Accrued professional fees |
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|
1,009 |
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|
2,909 |
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Accrued taxes |
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|
1,552 |
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|
1,482 |
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Accrued clinical and research expenses |
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|
797 |
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|
752 |
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Accrued interest |
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1,171 |
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|
1,123 |
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Accrued warranty |
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2,200 |
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1,531 |
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Accrued other |
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11,741 |
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|
5,785 |
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Total accrued liabilities |
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$ |
38,922 |
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$ |
45,297 |
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