Annual report pursuant to Section 13 and 15(d)

Balance Sheet Details

v2.4.1.9
Balance Sheet Details
 12 Months Ended
Dec. 31, 2014
Supplemental Balance Sheet Disclosures [Abstract]  
Balance Sheet Details
5. Balance Sheet Details
Cash and cash equivalents and investments consist of the following:
 
December 31,
 
2014
 
2013
Cash and cash equivalents
$
20,696

 
$
26,450

Short-term investments
48,399

 
35,494

Long-term investments
10,256

 
24,410

 
$
79,351

 
$
86,354


Inventory consists of the following:
 
December 31,
 
2014
 
2013
Work-in-process
$
4,169

 
$
4,384

Finished goods
6,689

 
5,648

 
$
10,858

 
$
10,032


Property and equipment consist of the following:
 
 
 
December 31,
 
Useful Life
(in Years)
 
2014
 
2013
Furniture and fixtures
5
 
$
735

 
$
346

Machinery and equipment
3 -5
 
12,695

 
9,488

Masks and production equipment (1)
2
 
8,672

 
4,764

Software
3
 
905

 
743

Leasehold improvements (2)
4 -5
 
4,451

 
924

Construction in progress
N/A
 
276

 
82

 
 
 
27,734

 
16,347

Less accumulated depreciation and amortization
 
 
(15,293
)
 
(10,836
)
 
 
 
$
12,441

 
$
5,511

(1) In the year ended December 31, 2013, the Company recorded an impairment charge of $1.1 million, reflected in cost of net revenue, related to the remaining net book value of production masks that were previously capitalized, but for which future use is no longer expected.
(2) The Company has capitalized leasehold improvements and recognized a corresponding lease incentive obligation of $2.0 million related to the corporate headquarters in Carlsbad, California. The lease incentive obligation is being amortized over the remaining lease term as an offset to rent expense. Normal leasehold improvements related to the facility are recorded in leasehold improvements in the table above.
On October 31, 2014, the Company acquired Physpeed and recognized $1.2 million of goodwill in connection with the acquisition.
Intangible assets consist of the following:
 
Weighted
Average Amortization
 
December 31,
 
Period
(in Years)
 
2014
 
2013
Licensed technology
3
 
$
2,821

 
$
2,821

Developed technology
7
 
2,700

 
—

Less accumulated amortization
 
 
(2,435
)
 
(2,072
)
 
 
 
3,086

 
749

In-process research and development
 
 
7,300

 
—

 
 
 
$
10,386

 
$
749


The following table presents future amortization of the Company’s intangible assets at December 31, 2014:
 
Amortization
2015
$
589

2016
382

2017
270

2018
270

2019
270

Thereafter
1,305

Total
$
3,086


Deferred revenue and deferred profit consist of the following:
 
December 31,
 
2014
 
2013
Deferred revenue—rebates
$
21

 
$
110

Deferred revenue—distributor transactions
5,585

 
3,922

Deferred cost of net revenue—distributor transactions
(1,994
)
 
(1,381
)
 
$
3,612

 
$
2,651


Accrued price protection liability consists of the following activity:
 
Years Ended December
 
2014
 
2013
Beginning balance
$
15,017

 
$
7,880

Charged as a reduction of revenue
22,466

 
22,388

Reversal of unclaimed rebates
(413
)
 
(50
)
Payments
(27,052
)
 
(15,201
)
Ending Balance
$
10,018

 
$
15,017


Accrued expenses and other current liabilities consist of the following:
 
December 31,
 
2014
 
2013
Accrued technology license payments
$
3,000

 
$
3,000

Accrued professional fees
422

 
390

Accrued litigation costs
560

 
—

Other
1,566

 
895

 
$
5,548

 
$
4,285