| Balance Sheet Details |
Balance Sheet Details
Cash, cash equivalents, restricted cash and investments consist of the following:
|
|
|
|
|
|
|
|
|
|
March 31, 2017 |
|
December 31, 2016 |
|
(in thousands) |
Cash and cash equivalents |
$ |
89,121 |
|
|
$ |
81,086 |
|
Short-term restricted cash |
615 |
|
|
614 |
|
Long-term restricted cash |
1,502 |
|
|
1,196 |
|
Total cash, cash equivalents and restricted cash |
91,238 |
|
|
82,896 |
|
Short-term investments |
63,637 |
|
|
47,918 |
|
Long-term investments |
— |
|
|
5,991 |
|
|
$ |
154,875 |
|
|
$ |
136,805 |
|
Inventory consists of the following:
|
|
|
|
|
|
|
|
|
|
March 31, 2017 |
|
December 31, 2016 |
|
(in thousands) |
Work-in-process |
$ |
20,992 |
|
|
$ |
13,947 |
|
Finished goods |
10,693 |
|
|
12,636 |
|
|
$ |
31,685 |
|
|
$ |
26,583 |
|
Property and equipment consist of the following:
|
|
|
|
|
|
|
|
|
|
|
|
Useful Life
(in Years) |
|
March 31, 2017 |
|
December 31, 2016 |
|
|
|
(in thousands) |
Furniture and fixtures |
5 |
|
$ |
1,988 |
|
|
$ |
1,983 |
|
Machinery and equipment |
3-5 |
|
27,632 |
|
|
27,028 |
|
Masks and production equipment |
2 |
|
8,418 |
|
|
9,153 |
|
Software |
3 |
|
3,701 |
|
|
3,625 |
|
Leasehold improvements |
1-5 |
|
11,670 |
|
|
11,635 |
|
Construction in progress |
N/A |
|
146 |
|
|
39 |
|
|
|
|
53,555 |
|
|
53,463 |
|
Less accumulated depreciation and amortization |
|
|
(34,393 |
) |
|
(32,914 |
) |
|
|
|
$ |
19,162 |
|
|
$ |
20,549 |
|
Depreciation expense for the three months ended March 31, 2017 and 2016 was $2.2 million and $3.7 million, respectively.
Deferred revenue and deferred profit consist of the following:
|
|
|
|
|
|
|
|
|
|
March 31, 2017 |
|
December 31, 2016 |
|
(in thousands) |
Deferred revenue—rebates |
$ |
249 |
|
|
$ |
464 |
|
Deferred revenue—distributor transactions |
8,348 |
|
|
7,987 |
|
Deferred cost of net revenue—distributor transactions |
(2,913 |
) |
|
(2,460 |
) |
|
$ |
5,684 |
|
|
$ |
5,991 |
|
Accrued price protection liability consists of the following activity:
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
2017 |
|
2016 |
|
(in thousands) |
Beginning balance |
$ |
15,176 |
|
|
$ |
20,026 |
|
Charged as a reduction of revenue |
11,698 |
|
|
10,243 |
|
Reversal of unclaimed rebates |
— |
|
|
(1,302 |
) |
Payments |
(4,927 |
) |
|
(10,524 |
) |
Ending balance |
$ |
21,947 |
|
|
$ |
18,443 |
|
Accrued expenses and other current liabilities consist of the following:
|
|
|
|
|
|
|
|
|
|
March 31, 2017 |
|
December 31, 2016 |
|
(in thousands) |
Accrued technology license payments |
$ |
3,465 |
|
|
$ |
5,850 |
|
Accrued professional fees |
4,063 |
|
|
1,620 |
|
Accrued engineering and production costs |
565 |
|
|
1,232 |
|
Accrued restructuring |
57 |
|
|
536 |
|
Accrued royalty |
940 |
|
|
846 |
|
Accrued leases - other |
1,745 |
|
|
1,560 |
|
Accrued customer credits |
1,169 |
|
|
1,207 |
|
Other |
2,980 |
|
|
3,507 |
|
|
$ |
14,984 |
|
|
$ |
16,358 |
|
|