Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.20.4
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  
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 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

 

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