| Balance Sheet Details |
Balance Sheet Details
Cash and cash equivalents and investments consist of the following:
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|
|
|
|
|
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|
December 31, 2015 |
|
December 31,
2014 |
|
(in thousands) |
Cash and cash equivalents |
$ |
67,956 |
|
|
$ |
20,696 |
|
Short-term investments |
43,300 |
|
|
48,399 |
|
Long-term investments |
19,242 |
|
|
10,256 |
|
|
$ |
130,498 |
|
|
$ |
79,351 |
|
Inventory consists of the following:
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|
|
|
|
|
|
|
|
December 31, 2015 |
|
December 31,
2014 |
|
(in thousands) |
Work-in-process |
$ |
15,713 |
|
|
$ |
4,169 |
|
Finished goods |
16,730 |
|
|
6,689 |
|
|
$ |
32,443 |
|
|
$ |
10,858 |
|
Property and equipment consist of the following:
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|
|
|
|
|
|
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|
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Useful Life
(in Years)
|
|
December 31, 2015 |
|
December 31,
2014 |
|
|
|
(in thousands) |
Furniture and fixtures |
5 |
|
$ |
2,458 |
|
|
$ |
735 |
|
Machinery and equipment |
3 -5 |
|
23,679 |
|
|
12,695 |
|
Masks and production equipment |
2 |
|
8,062 |
|
|
8,672 |
|
Software |
3 |
|
3,017 |
|
|
905 |
|
Leasehold improvements |
4 -5 |
|
9,573 |
|
|
4,451 |
|
Construction in progress |
N/A |
|
62 |
|
|
276 |
|
|
|
|
46,851 |
|
|
27,734 |
|
Less accumulated depreciation and amortization |
|
|
(24,993 |
) |
|
(15,293 |
) |
|
|
|
$ |
21,858 |
|
|
$ |
12,441 |
|
Intangible assets, net consist of the following:
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|
|
|
|
|
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|
|
|
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Weighted
Average
Amortization
Period
(in Years)
|
|
December 31, 2015 |
|
December 31,
2014 |
|
|
|
(in thousands) |
Licensed technology |
3 |
|
$ |
2,921 |
|
|
$ |
2,821 |
|
Developed technology |
7 |
|
47,000 |
|
|
2,700 |
|
Trademarks and trade names |
7 |
|
1,700 |
|
|
— |
|
Customer relationships |
5 |
|
4,700 |
|
|
— |
|
Backlog |
1 |
|
24,200 |
|
|
— |
|
Less accumulated amortization |
|
|
(32,366 |
) |
|
(2,435 |
) |
|
|
|
48,155 |
|
|
3,086 |
|
In-process research and development |
|
|
3,200 |
|
|
7,300 |
|
|
|
|
$ |
51,355 |
|
|
$ |
10,386 |
|
The following table presents future amortization of the Company’s intangible assets at December 31, 2015:
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Amortization
(in thousands)
|
2016 |
$ |
8,043 |
|
2017 |
7,931 |
|
2018 |
7,914 |
|
2019 |
7,897 |
|
2020 |
7,270 |
|
Thereafter |
9,100 |
|
Total |
$ |
48,155 |
|
Deferred revenue and deferred profit consist of the following:
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December 31, 2015 |
|
December 31,
2014 |
|
(in thousands) |
Deferred revenue—rebates |
$ |
118 |
|
|
$ |
21 |
|
Deferred revenue—distributor transactions |
5,695 |
|
|
5,585 |
|
Deferred cost of net revenue—distributor transactions |
(1,747 |
) |
|
(1,994 |
) |
|
$ |
4,066 |
|
|
$ |
3,612 |
|
Accrued price protection liability consists of the following activity:
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Year Ended December 31, |
|
2015 |
|
2014 |
|
(in thousands) |
Beginning balance |
$ |
10,018 |
|
|
$ |
15,017 |
|
Additional liability from acquisition |
3,486 |
|
|
— |
|
Charged as a reduction of revenue |
39,304 |
|
|
22,466 |
|
Reversal of unclaimed rebates |
(158 |
) |
|
(413 |
) |
Payments |
(32,624 |
) |
|
(27,052 |
) |
Ending balance |
$ |
20,026 |
|
|
$ |
10,018 |
|
Accrued expenses and other current liabilities consist of the following:
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December 31, 2015 |
|
December 31,
2014 |
|
(in thousands) |
Accrued technology license payments |
$ |
3,000 |
|
|
$ |
3,000 |
|
Accrued professional fees |
1,196 |
|
|
422 |
|
Accrued restructuring |
1,633 |
|
|
— |
|
Accrued litigation costs |
534 |
|
|
560 |
|
Accrued royalty |
2,042 |
|
|
195 |
|
Other |
6,963 |
|
|
1,371 |
|
|
$ |
15,368 |
|
|
$ |
5,548 |
|
|