Registration of securities issued in business combination transactions

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.21.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2021
Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES    
Schedule of impact of correction applicable to reporting periods  

The impact of this correction to the applicable reporting periods for the financial statement line items impacted is as follows (in thousands, except per share data):

Year Ended
December 31, 2020

As Reported

Restatement Impact

As Restated

Consolidated Statements of Operations and Comprehensive Loss:

Change in fair value of warrant liability

$

$

56,417

$

56,417

Loss before income taxes

$

(91,372)

$

56,417

$

(34,955)

Net loss

$

(90,432)

$

56,417

$

(34,015)

Total comprehensive loss, net of taxes of $0

$

(90,516)

$

56,417

$

(34,099)

Earnings (loss) per share:

 

Net loss per share - basic and diluted

$

(0.57)

$

0.35

$

(0.22)

Schedule of Accrued warranty  

    

2020

    

2019

Warranty reserve, at the beginning of the year

$

1,491

$

116

Additions to warranty reserve

 

346

 

2,352

Claims fulfilled

 

(284)

 

(977)

Warranty reserve, at the end of the year

$

1,553

$

1,491

Schedule of Inventory

Inventory consists of the following (in thousands):

    

June 30, 

December 31, 

    

2021

2020

Raw materials

$

5,678

$

Work in process

4,346

2,896

Finished goods

 

15,383

 

6,812

Total inventory

$

25,407

$

9,708

Inventory is stated at the lower of cost or net realizable value, determined on a first-in, first-out basis, and consists of the following (in thousands):

December 31, 

    

2020

    

2019

Work in process

$

2,896

$

1,081

Finished goods

 

6,812

 

7,324

Total inventory

$

9,708

$

8,405

Schedule of estimated useful lives of the assets

Asset Classification

    

Useful Life

Equipment

 

2-12 years

Furniture and fixtures

 

3-5 years

Computer equipment

 

3 years

Tooling

 

3 years

Software

 

2-3 years

Leasehold improvements

 

Shorter of asset’s useful life or remaining life of the lease

Asset Classification

    

Useful Life

Equipment

 

3‑5 years

Furniture and fixtures

 

3 years

Computer equipment

 

3 years

Tooling

 

3 years

Software

 

3 years

Leasehold improvements

 

Shorter of asset’s useful life or remaining life of the lease