| BALANCE SHEET COMPONENTS |
BALANCE SHEET COMPONENTS Details of certain balance sheet items are presented below (in thousands):
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September 30, 2023 |
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December 31, 2022 |
| Inventory: |
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| Raw materials and manufacturing supplies |
$ |
69,950 |
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$ |
65,968 |
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| Work in process |
228 |
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|
248 |
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| Finished goods |
69,607 |
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76,745 |
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| Total inventory |
$ |
139,785 |
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$ |
142,961 |
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| Prepaid Expenses and Other Current Assets: |
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| Advance to vendors |
$ |
2,681 |
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$ |
2,047 |
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| Prepaid insurance |
797 |
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5,870 |
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| Prepaid value-added taxes |
1,852 |
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2,872 |
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| Other |
1,654 |
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1,162 |
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| Total prepaid expenses and other current assets |
$ |
6,984 |
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$ |
11,951 |
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| Property, Plant and Equipment: |
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| Buildings |
$ |
3,930 |
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$ |
3,948 |
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| Leasehold improvements |
2,671 |
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2,333 |
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| Furniture and fixtures |
511 |
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344 |
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| Machinery and equipment |
60,828 |
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58,314 |
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| Vehicles |
3,974 |
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4,106 |
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| Construction in progress |
3,843 |
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1,953 |
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| Total property, plant and equipment, gross |
75,757 |
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70,998 |
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| Less: Accumulated depreciation |
(17,449) |
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(12,152) |
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| Total property, plant and equipment, net |
$ |
58,308 |
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$ |
58,846 |
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| Accrued Expenses and Other Current Liabilities: |
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| Accrued bonus |
$ |
3,077 |
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$ |
3,278 |
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| Accrued salaries |
2,152 |
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2,332 |
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| Accrued employee benefits |
1,251 |
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|
846 |
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| Accrued interest |
16,100 |
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8,235 |
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| Accrued purchases |
5,601 |
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1,790 |
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| Accrued taxes |
5,258 |
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11,000 |
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| Operating lease liabilities |
2,235 |
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3,541 |
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| Finance lease liabilities |
544 |
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— |
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| Other |
1,393 |
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1,683 |
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| Total accrued expenses and other current liabilities |
$ |
37,611 |
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$ |
32,705 |
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| Other Non-Current Liabilities: |
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| LaderaTech contingent earn-out |
$ |
— |
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$ |
7,273 |
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| Other |
2,087 |
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2,049 |
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| Total other non-current liabilities |
$ |
2,087 |
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$ |
9,322 |
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Depreciation expense related to property, plant and equipment was $2.5 million and $7.2 million for the three and nine months ended September 30, 2023, respectively, and $2.7 million and $8.1 million for the three and nine months ended September 30, 2022, respectively, substantially all of which was presented in cost of goods sold in the accompanying condensed consolidated statements of operations and comprehensive income (loss).
The Company had an allowance for doubtful accounts, included in accounts receivable, net of $0.6 million and $0.9 million as of September 30, 2023 and December 31, 2022, respectively. The Company’s account receivable, net as of December 31, 2021 was $24.3 million.
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