Balance Sheet Accounts
 12 Months Ended
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Accounts Balance Sheet Accounts
Inventory, Net
December 31,
20212020
(in thousands)
Raw materials$8,519 $5,450 
Work in process1,396 1,121 
Finished goods18,492 16,639 
$28,407 $23,210 
As of December 31, 2021 and 2020, $3.5 million and $2.0 million of inventory was on consignment, respectively.
Prepaid Expenses and Other Current Assets
December 31,
20212020
(in thousands)
Prepaid insurance$2,315 $2,115 
Prepaid raw materials and accessories577 164 
Prepaid warranty and distribution rights516 486 
Prepaid US clinical trial costs412 57 
Prepaid taxes551 528 
Other2,641 2,089 
$7,012 $5,439 
Property and Equipment, Net
December 31,
20212020
(in thousands)
Machinery and equipment$10,240 $9,232 
Building improvements6,713 6,456 
Furniture and fixtures4,761 4,092 
Building2,472 2,472 
Leasehold improvements2,118 2,065 
Land802 802 
Vehicles268 399 
Construction in process3,174 317 
Total30,548 25,835 
Less: Accumulated depreciation and amortization(11,890)(9,633)
$18,658 $16,202 
For the years ended December 31, 2021, 2020 and 2019, depreciation and amortization expense related to property and equipment was $2.5 million, $2.4 million and $2.7 million, respectively.
The Company entered into finance leases relating to equipment and vehicles and recorded the fair value of the lease payments on the initial contract date and is amortizing the assets over the term of the leases. As of each of December 31, 2021 and 2020, the gross asset value for finance lease assets was $1.4 million. Depreciation expense for assets under finance leases was $126,000, $80,000 and $84,000 for the years ended December 31, 2021, 2020 and 2019, respectively.
In August 2021, the Company entered into a contract with the Zona Franca Coyol, S.A., or CFZ, to begin construction of a new manufacturing facility in Costa Rica. The costs for improvement of the land and construction of a cold shell building are being paid for by CFZ and, upon completion, the Company will have the option to purchase the title to the land and cold shell building for approximately $12.6 million or to lease the facility at a to be determined price. Subject to purchase of the land and cold shell building, the Company will have the option to buy an adjacent lot of land for approximately $2.8 million and engage CFZ to construct an additional manufacturing facility.
Accrued Liabilities
Accrued liabilities consisted of the following:
December 31,
20212020
(in thousands)
Performance bonus$3,346 $2,406 
Payroll and related expenses3,904 2,781 
Bonus feature of stock option grants5,570 5,992 
Operating lease liabilities - current402 788 
Commissions1,138 628 
Professional and legal services819 439 
Warranty reserve167 237 
Cash payable for asset acquisitions - contingent consideration137 147 
Other753 1,114 
$16,236 $14,532 
Other Liabilities, Short-Term
Other liabilities, short-term consisted of the following:
December 31,
20212020
(in thousands)
Deferred revenue769 1,214 
Cash payable for asset acquisitions409 432 
$1,178 $1,646 
Other Liabilities, Long-Term
Other liabilities, long-term consisted of the following:
December 31,
20212020
(in thousands)
Deferred revenue$2,392 $1,860 
Cash payable for asset acquisitions— 425 
Other— 47 
$2,392 $2,332