Balance Sheet Details (Tables)
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3 Months Ended |
Mar. 31, 2020 |
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| Balance Sheet Related Disclosures [Abstract] |
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| Cash, Cash Equivalents and Investments |
Cash, cash equivalents and restricted cash consist of the following:
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March 31, 2020 |
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December 31, 2019 |
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(in thousands) |
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| Cash and cash equivalents |
$ |
98,373 |
|
|
$ |
92,708 |
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| Short-term restricted cash |
10 |
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|
349 |
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| Long-term restricted cash |
57 |
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|
60 |
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| Total cash, cash equivalents and restricted cash |
$ |
98,440 |
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|
$ |
93,117 |
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| Inventory |
Inventory consists of the following:
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March 31, 2020 |
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December 31, 2019 |
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(in thousands) |
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| Work-in-process |
$ |
14,485 |
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|
$ |
14,525 |
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| Finished goods |
16,603 |
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|
16,985 |
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$ |
31,088 |
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$ |
31,510 |
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| Property and Equipment |
Property and equipment, net consists of the following:
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Useful Life
(in Years) |
|
March 31, 2020 |
|
December 31, 2019 |
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(in thousands) |
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| Furniture and fixtures |
5 |
|
$ |
2,206 |
|
|
$ |
2,199 |
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| Machinery and equipment |
3-5 |
|
36,851 |
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|
35,660 |
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| Masks and production equipment |
2-5 |
|
15,194 |
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|
15,209 |
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| Software |
3 |
|
6,118 |
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|
5,956 |
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| Leasehold improvements |
1-5 |
|
15,255 |
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|
16,186 |
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| Construction in progress |
N/A |
|
306 |
|
|
746 |
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|
|
|
75,930 |
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|
75,956 |
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| Less: accumulated depreciation and amortization |
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|
(60,179) |
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|
(59,343) |
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$ |
15,751 |
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$ |
16,613 |
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| Price Protection Liability |
Accrued price protection liability consists of the following activity:
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Three Months Ended March 31, |
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2020 |
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2019 |
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(in thousands) |
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| Beginning balance |
$ |
12,557 |
|
|
$ |
16,454 |
|
|
|
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| Charged as a reduction of revenue |
1,399 |
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|
10,508 |
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|
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| Payments |
(5,932) |
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|
(8,019) |
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| Ending balance |
$ |
8,024 |
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|
$ |
18,943 |
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| Accrued Expenses |
Accrued expenses and other current liabilities consist of the following:
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March 31, 2020 |
|
December 31, 2019 |
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(in thousands) |
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| Accrued technology license payments |
$ |
4,500 |
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|
$ |
4,500 |
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| Accrued professional fees |
2,715 |
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|
861 |
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| Accrued engineering and production costs |
2,068 |
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|
4,491 |
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| Accrued restructuring |
319 |
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|
294 |
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| Accrued royalty |
513 |
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|
923 |
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| Short-term lease liabilities |
4,751 |
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|
4,810 |
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| Accrued customer credits |
49 |
|
|
832 |
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| Income tax liability |
109 |
|
|
65 |
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| Customer contract liabilities |
14 |
|
|
107 |
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| Accrued obligations to customers for price adjustments |
9,053 |
|
|
8,382 |
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| Accrued obligations to customers for stock rotation rights |
1,572 |
|
|
1,410 |
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| Other |
4,998 |
|
|
4,496 |
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|
$ |
30,661 |
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|
$ |
31,171 |
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| Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] |
The following table summarizes the change in balances of accumulated other comprehensive income (loss) by component:
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Cumulative Translation Adjustments |
|
Interest Rate Hedge |
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Total |
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(in thousands) |
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| Balance at December 31, 2019 |
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|
$ |
(747) |
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|
$ |
(140) |
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$ |
(887) |
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| Current period other comprehensive income (loss) |
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(580) |
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|
(153) |
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|
(733) |
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| Balance at March 31, 2020 |
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|
$ |
(1,327) |
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|
$ |
(293) |
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|
$ |
(1,620) |
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