| Balance Sheet Details |
Balance Sheet Details
Cash, cash equivalents, restricted cash and investments consist of the following:
|
|
|
|
|
|
|
|
|
|
September 30, 2017 |
|
December 31, 2016 |
|
(in thousands) |
Cash and cash equivalents |
$ |
71,576 |
|
|
$ |
81,086 |
|
Short-term restricted cash |
615 |
|
|
614 |
|
Long-term restricted cash |
1,905 |
|
|
1,196 |
|
Total cash, cash equivalents and restricted cash |
74,096 |
|
|
82,896 |
|
Short-term investments |
— |
|
|
47,918 |
|
Long-term investments |
— |
|
|
5,991 |
|
|
$ |
74,096 |
|
|
$ |
136,805 |
|
Inventory consists of the following:
|
|
|
|
|
|
|
|
|
|
September 30, 2017 |
|
December 31, 2016 |
|
(in thousands) |
Work-in-process |
$ |
27,093 |
|
|
$ |
13,947 |
|
Finished goods |
36,599 |
|
|
12,636 |
|
|
$ |
63,692 |
|
|
$ |
26,583 |
|
Property and equipment, net consists of the following:
|
|
|
|
|
|
|
|
|
|
|
|
Useful Life
(in Years) |
|
September 30, 2017 |
|
December 31, 2016 |
|
|
|
(in thousands) |
Furniture and fixtures |
5 |
|
$ |
2,108 |
|
|
$ |
1,983 |
|
Machinery and equipment |
3-5 |
|
32,495 |
|
|
27,028 |
|
Masks and production equipment |
2 |
|
10,625 |
|
|
9,153 |
|
Software |
3 |
|
5,085 |
|
|
3,625 |
|
Leasehold improvements |
1-5 |
|
13,965 |
|
|
11,635 |
|
Construction in progress |
N/A |
|
228 |
|
|
39 |
|
|
|
|
64,506 |
|
|
53,463 |
|
Less accumulated depreciation and amortization |
|
|
(41,170 |
) |
|
(32,914 |
) |
|
|
|
$ |
23,336 |
|
|
$ |
20,549 |
|
Depreciation expense for the three and nine months ended September 30, 2017 was $3.4 million and $9.2 million, respectively. Depreciation expense for the three and nine months ended September 30, 2016 was $3.0 million and $8.3 million, respectively.
Deferred revenue and deferred profit consist of the following:
|
|
|
|
|
|
|
|
|
|
September 30, 2017 |
|
December 31, 2016 |
|
(in thousands) |
Deferred revenue—rebates |
$ |
130 |
|
|
$ |
464 |
|
Deferred revenue—distributor transactions |
22,902 |
|
|
7,987 |
|
Deferred cost of net revenue—distributor transactions |
(5,808 |
) |
|
(2,460 |
) |
|
$ |
17,224 |
|
|
$ |
5,991 |
|
Accrued price protection liability consists of the following activity:
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, |
|
2017 |
|
2016 |
|
(in thousands) |
Beginning balance |
$ |
15,176 |
|
|
$ |
20,026 |
|
Charged as a reduction of revenue |
36,256 |
|
|
34,501 |
|
Reversal of unclaimed rebates |
(70 |
) |
|
(1,302 |
) |
Payments |
(23,133 |
) |
|
(36,113 |
) |
Ending balance |
$ |
28,229 |
|
|
$ |
17,112 |
|
Accrued expenses and other current liabilities consist of the following:
|
|
|
|
|
|
|
|
|
|
September 30, 2017 |
|
December 31, 2016 |
|
(in thousands) |
Accrued technology license payments |
$ |
5,186 |
|
|
$ |
5,850 |
|
Accrued professional fees |
1,079 |
|
|
1,620 |
|
Accrued engineering and production costs |
1,565 |
|
|
1,232 |
|
Accrued restructuring |
4,195 |
|
|
536 |
|
Accrued royalty |
1,164 |
|
|
846 |
|
Accrued leases - other |
1,418 |
|
|
1,560 |
|
Accrued customer credits |
1,159 |
|
|
1,207 |
|
Income tax liability |
4,167 |
|
|
235 |
|
Other |
7,090 |
|
|
3,272 |
|
|
$ |
27,023 |
|
|
$ |
16,358 |
|
|