| Balance Sheet Details |
Balance Sheet Details
Cash, cash equivalents, restricted cash and investments consist of the following:
|
|
|
|
|
|
|
|
|
|
December 31, 2017 |
|
December 31, 2016 |
|
(in thousands) |
Cash and cash equivalents |
$ |
71,872 |
|
|
$ |
81,086 |
|
Short-term restricted cash |
1,476 |
|
|
614 |
|
Long-term restricted cash |
1,064 |
|
|
1,196 |
|
Total cash, cash equivalents and restricted cash |
74,412 |
|
|
82,896 |
|
Short-term investments |
— |
|
|
47,918 |
|
Long-term investments |
— |
|
|
5,991 |
|
|
$ |
74,412 |
|
|
$ |
136,805 |
|
Inventory consists of the following:
|
|
|
|
|
|
|
|
|
|
December 31, 2017 |
|
December 31, 2016 |
|
(in thousands) |
Work-in-process |
$ |
21,823 |
|
|
$ |
13,947 |
|
Finished goods |
31,611 |
|
|
12,636 |
|
|
$ |
53,434 |
|
|
$ |
26,583 |
|
Property and equipment consist of the following:
|
|
|
|
|
|
|
|
|
|
|
|
Useful Life
(in Years)
|
|
December 31, 2017 |
|
December 31, 2016 |
|
|
|
(in thousands) |
Furniture and fixtures |
5 |
|
$ |
2,105 |
|
|
$ |
1,983 |
|
Machinery and equipment |
3 -5 |
|
33,462 |
|
|
27,028 |
|
Masks and production equipment |
2 |
|
11,470 |
|
|
9,153 |
|
Software |
3 |
|
4,695 |
|
|
3,625 |
|
Leasehold improvements |
1 -5 |
|
14,340 |
|
|
11,635 |
|
Construction in progress |
N/A |
|
639 |
|
|
39 |
|
|
|
|
66,711 |
|
|
53,463 |
|
Less accumulated depreciation and amortization |
|
|
(44,053 |
) |
|
(32,914 |
) |
|
|
|
$ |
22,658 |
|
|
$ |
20,549 |
|
Depreciation expense for the years ended December 31, 2017, 2016 and 2015 was $12.0 million, $10.6 million and $10.8 million, respectively.
Deferred revenue and deferred profit consist of the following:
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|
|
|
|
|
|
|
|
|
December 31, 2017 |
|
December 31, 2016 |
|
(in thousands) |
Deferred revenue—rebates |
$ |
156 |
|
|
$ |
464 |
|
Deferred revenue—distributor transactions |
5,341 |
|
|
7,987 |
|
Deferred cost of net revenue—distributor transactions |
(1,135 |
) |
|
(2,460 |
) |
|
$ |
4,362 |
|
|
$ |
5,991 |
|
Accrued price protection liability consists of the following activity:
|
|
|
|
|
|
|
|
|
|
Years Ended December 31, |
|
2017 |
|
2016 |
|
(in thousands) |
Beginning balance |
$ |
15,176 |
|
|
$ |
20,026 |
|
Charged as a reduction of revenue |
46,520 |
|
|
43,931 |
|
Reversal of unclaimed rebates |
(101 |
) |
|
(1,303 |
) |
Payments |
(40,024 |
) |
|
(47,478 |
) |
Ending balance |
$ |
21,571 |
|
|
$ |
15,176 |
|
Accrued expenses and other current liabilities consist of the following:
|
|
|
|
|
|
|
|
|
|
December 31, 2017 |
|
December 31, 2016 |
|
(in thousands) |
Accrued technology license payments |
$ |
4,500 |
|
|
$ |
5,850 |
|
Accrued professional fees |
1,497 |
|
|
1,620 |
|
Accrued engineering and production costs |
2,378 |
|
|
1,232 |
|
Accrued restructuring |
3,039 |
|
|
536 |
|
Accrued royalty |
1,206 |
|
|
846 |
|
Accrued leases |
1,105 |
|
|
1,560 |
|
Accrued customer credits |
2,667 |
|
|
1,207 |
|
Other |
3,914 |
|
|
3,507 |
|
|
$ |
20,306 |
|
|
$ |
16,358 |
|
|