Airgain (AIRG) 10-Q 6 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	May 04, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Trading Symbol	AIRG
Entity Registrant Name	AIRGAIN, INC.
Entity Central Index Key	0001272842
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity File Number	001-37851
Entity Tax Identification Number	95-4523882
Entity Address, Address Line One	3611 Valley Centre Drive
Entity Address, Address Line Two	Suite 150
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92130
City Area Code	760
Local Phone Number	579-0200
Entity Common Stock, Shares Outstanding		10,536,756
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common shares, par value $0.0001 per share
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 21,458	$ 38,173
Trade accounts receivable	9,853	4,782
Inventory	2,409	1,016
Prepaid expenses and other current assets	1,953	1,462
Total current assets	35,673	45,433
Property and equipment, net	2,469	2,377
Operating lease right-of-use assets	3,340	0
Goodwill	10,845	3,700
Intangible assets, net	16,517	3,168
Other assets	517	249
Total assets	69,361	54,927
Current liabilities:
Accounts payable	4,848	2,975
Accrued compensation	1,531	2,655
Accrued liabilities and other	2,145	1,187
Short-term lease liabilities	981	0
Current portion of deferred rent obligation under operating lease	0	39
Total current liabilities	9,505	6,856
Deferred purchase price liabilities	6,686	0
Deferred tax liability	86	58
Long-term lease liability	2,686	0
Deferred rent obligation under operating lease	0	271
Total liabilities	18,963	7,185
Commitments and contingencies (note 15)
Stockholders’ equity:
Common stock and additional paid-in capital, par value $0.0001, 200,000 shares authorized; 10,537 shares issued and 10,003 shares outstanding at March 31, 2021; and 10,318 shares issued and 9,784 shares outstanding at December 31, 2020	102,775	100,356
Treasury stock, at cost: 534 shares at March 31, 2021, and December 31, 2020.	(5,267)	(5,267)
Accumulated deficit	(47,110)	(47,347)
Total stockholders’ equity	50,398	47,742
Total liabilities and stockholders’ equity	$ 69,361	$ 54,927

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	10,537,000	10,318,000
Common stock, shares outstanding	10,003,000	9,784,000
Treasury stock, shares at cost	534,000	534,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Sales	$ 17,377	$ 11,216
Cost of goods sold	10,480	5,891
Gross profit	6,897	5,325
Operating expenses:
Research and development	2,706	2,418
Sales and marketing	2,439	1,539
General and administrative	3,633	2,678
Total operating expenses	8,778	6,635
Loss from operations	(1,881)	(1,310)
Other expense (income):
Interest income, net	(8)	(124)
Other expense	7	0
Total other income	(1)	(124)
Loss before income taxes	(1,880)	(1,186)
Provision (benefit) for income taxes	(2,117)	16
Net income (loss)	$ 237	$ (1,202)
Net income (loss) per share:
Basic	$ 0.02	$ (0.12)
Diluted	$ 0.02	$ (0.12)
Weighted average shares used in calculating income (loss) per share:
Basic	9,869	9,690
Diluted	10,839	9,690

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 237	$ (1,202)
Unrealized loss on available-for-sale securities, net of deferred taxes	0	(15)
Comprehensive income (loss)	$ 237	$ (1,217)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock and Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance at Dec. 31, 2019	$ 47,904	$ 96,623	$ (4,659)	$ 8	$ (44,068)
Stock-based compensation		668
Replacement awards issued in relation to acquisition	0
Issuance of shares for stock purchase plan		70
Repurchases of common stock			(190)
Other comprehensive income (loss)				(15)
Net income (loss)	(1,202)				(1,202)
Ending balance at Mar. 31, 2020	47,235	97,361	(4,849)	(7)	(45,270)
Beginning balance at Dec. 31, 2020	47,742	100,356	(5,267)	0	(47,347)
Stock-based compensation		928
Replacement awards issued in relation to acquisition	40
Issuance of shares for stock purchase plan		1,451
Repurchases of common stock			0
Other comprehensive income (loss)				0
Net income (loss)	237				237
Ending balance at Mar. 31, 2021	$ 50,398	$ 102,775	$ (5,267)	$ 0	$ (47,110)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ 237	$ (1,202)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation	131	122
Amortization of intangible assets	716	164
Amortization of premium (discounts) on investments, net	0	(7)
Stock-based compensation	928	668
Deferred tax liability	2,302	0
Changes in operating assets and liabilities:
Trade accounts receivable	(3,944)	640
Inventory	(278)	(197)
Prepaid expenses and other assets	(451)	238
Other assets	27	0
Accounts payable	1,179	(291)
Accrued compensation	(1,263)	(1,356)
Accrued liabilities and other	527	(44)
Lease liabilities	17	0
Deferred obligation under operating lease	0	(45)
Net cash provided by operating activities	(3,920)	(902)
Cash flows from investing activities:
Cash paid for acquisition, net of cash acquired	14,185	0
Purchases of available-for-sale securities	0	(752)
Maturities of available-for-sale securities	0	11,400
Purchases of property and equipment	(61)	(115)
Net cash provided by (used in) investing activities	(14,246)	10,533
Cash flows from financing activities:
Repurchases of common stock	0	(190)
Proceeds from issuance of common stock, net	1,451	70
Net cash provided by (used in) financing activities	1,451	(120)
Net increase (decrease) in cash, cash equivalents and restricted cash	(16,715)	9,511
Cash, cash equivalents, and restricted cash; beginning of period	38,348	13,197
Cash, cash equivalents, and restricted cash; end of period	21,633	22,708
Supplemental disclosure of cash flow information:
Taxes paid	38	22
Supplemental disclosure of non-cash investing and financing activities:
Right-of-use assets recorded upon adoption of ASC 842	3,199	0
Leased liabilities recorded upon adoption of ASC 842	3,519	0
Accrual of property and equipment	13	21
Cash and cash equivalents	21,458	22,533
Restricted cash included in other assets	175	175
Total cash, cash equivalents, and restricted cash	$ 21,633	$ 22,708

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Note 1. Description of Business and Basis of Presentation Description of Business Airgain, Inc. (the Company) was incorporated in the State of California on March 20, 1995; and reincorporated in the State of Delaware on August 15, 2016. The Company is a leading provider of advanced wireless connectivity solutions and technologies used to enable high performance wireless networking across a broad range of markets, including consumer, enterprise and automotive. The Company's technologies are deployed in carrier, fleet, enterprise, residential, private, government, and public safety wireless networks and systems, including set-top boxes, access points, routers, modems, gateways, media adapters, portables, digital televisions, sensors, fleet, and asset tracking devices. The Company provides its solutions to the residential wireless local area networking, also known as WLAN, market, supplying to leading carriers, original equipment manufacturers, or OEMs, original design manufacturers, or ODMs, and chipset manufacturers. The Company’s headquarters is in San Diego, California with office space and research, design and test facilities in the United States, United Kingdom, China, and Taiwan. Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Interim financial results are not necessarily indicative of results anticipated for the full year. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, from which the balance sheet information herein was derived. The Condensed Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiary. All intercompany transactions and investments have been eliminated in consolidation. On January 7, 2021, the Company acquired all of the outstanding stock of NimbeLink Corp., a Delaware corporation (NimbeLink), for an upfront cash purchase price of approximately $ 15.0 million, subject to working capital and other customary adjustments of approximately $ 1.0 million as well as $ 0.7 million in deferred cash payments due to the seller fifteen months after the close of the transaction. In addition, NimbeLink’s former security holders may receive up to $ 8.0 million in additional consideration, subject to the acquired business's achievement of certain revenue targets in 2021. The transaction was recorded using the purchase method of accounting; accordingly, the results of NimbeLink are included in the Company’s condensed consolidated statements of operations and cash flows for the period subsequent to its acquisition. The unaudited condensed balance sheet as of December 31, 2020, included herein was derived from the audited financial statements as of that date but does not include all disclosures including notes required by GAAP. The unaudited condensed consolidated statements of operations for the three months ended March 31, 2021 and 2020, and the consolidated balance sheet data as of March 31, 2021, have been prepared on the same basis as the audited financial statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting of normal and recurring adjustments, necessary for a fair presentation of results of the Company’s operations and financial position for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2021 , or for any future period. Segment Information The Company’s operations are located primarily in the United States and most of its assets are located in San Diego, California, Plymouth, Minnesota and Scottsdale, Arizona. The Company operates in one segment related to the sale of wireless connectivity solutions and technologies. The Company’s chief operating decision-maker is its chief executive officer, who reviews operating results on an aggregate basis and manages the Company’s operations as a single operating segment. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Reclassifications Certain amounts in the prior year financial statements have been reclassified to conform to the presentation of the current year financial statements including reclassification of accrued vacation, accrued payroll and other payroll accrual balances from accrued liabilities and other to accrued compensation resulting in changes to the comparative condensed consolidated statement of cash flows .

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies During the three months ended March 31, 2021, there have been no material changes to the Company’s significant accounting policies as described in the Annual Report on Form 10-K for the fiscal year ended December 31, 2020, with the exception of the Company's adoption of ASC 842, Leases as discussed below. Restricted Cash As of March 31, 2021, the Company has $ 0.2 million in cash on deposit to secure certain lease commitments. Restricted cash is recorded in Other assets in the Company’s balance sheet. Trade Accounts Receivable Trade accounts receivable is adjusted for all known uncollectible accounts. The policy for determining when receivables are past due or delinquent is based on the contractual terms agreed upon. Accounts are written off once all collection efforts have been exhausted. An allowance for doubtful accounts is established when, in the opinion of management, collection of the account is doubtful. No allowance for doubtful accounts was recorded as of March 31, 2021 and December 31, 2020. Inventory The majority of the Company’s products are manufactured by third parties that retain ownership of the inventory until title is transferred to the customer at the shipping point. In certain instances, shipping terms are delivery at place and the Company is responsible for arranging transportation and delivery of goods ready for unloading at the named place. In those instances, the Company bears all risk involved in bringing the goods to the named place and records the related inventory in transit to the customer as inventory on the accompanying balance sheet. The Company also manufactures certain of its products at its facility located in Scottsdale, Arizona. Inventory is stated at the lower of cost or net realizable value. For items manufactured by the Company, cost is determined using the weighted average cost method. For items manufactured by third parties, cost is determined using the first-in, first-out (FIFO) method. Any adjustments to reduce the cost of inventories to their net realizable value are recognized in earnings in the current period. As of March 31, 2021, the Company’s inventories consist of raw materials of $ 1.5 million and finished goods of $ 0.9 million as of March 31, 2021. As of December 31, 2020, inventories consisted of raw materials of $ 0.8 million and finished goods of $ 0.2 million, respectively. Provisions for excess and obsolete inventories are estimated based on product life cycles, quality issues, and historical experience and were $ 10,000 as of March 31, 2021 and December 31, 2020 . Fair Value Measurements The carrying values of the Company’s financial instruments, including cash, trade accounts receivable, accounts payable, and accrued liabilities approximate their fair values due to the short maturity of these instruments. Fair value measurements are market-based measurements, not entity-specific measurements. Therefore, fair value measurements are determined based on the assumptions that market participants would use in pricing the asset or liability. The Company follows a three-level hierarchy to prioritize the inputs used in the valuation techniques to derive fair values. The basis for fair value measurements for each level within the hierarchy is described below:  Level 1: Quoted prices in active markets for identical assets or liabilities  Level 2: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets.  Level 3: Valuations derived from valuation techniques in which one or more significant inputs are unobservable in active markets. Business Combinations The Company applies the provisions of Accounting Standards Codification (ASC) 805, Business Combinations , in accounting for its acquisitions. It requires the Company to recognize separately from goodwill the assets acquired and the liabilities assumed, at the acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the acquisition date fair values of the net assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date, as well as the contingent consideration, where applicable, its estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of operations. In addition, uncertain tax positions and tax-related valuation allowances assumed, if any, in connection with a business combination are initially estimated as of the acquisition date. The Company re-evaluates these items quarterly based upon facts and circumstances that existed as of the acquisition date with any adjustments to the preliminary estimates being recorded to goodwill if identified within the measurement period. Subsequent to the end of the measurement period or final determination of the estimated value of the tax allowance or contingency, whichever comes first, changes to these uncertain tax positions and tax related valuation allowances will affect the income tax provision (benefit) in the consolidated statements of operations and could have a material impact on the results of operations and financial position. Revenue Recognition Effective January 1, 2019, the Company adopted Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers , and the related amendments, which are codified into ASC 606, Revenue from Contracts with Customers , using the modified retrospective method. The Company generates revenue mainly from the sale of wireless connectivity solutions and technologies. A portion of revenue is generated from service agreements and data subscription plans with certain customers. The revenue generated from service contracts and data subscription plans is insignificant. The Company recognizes revenue to depict the transfer of control of the promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled for those goods or services. Control passes to the customers either when the products are shipped to or received by the customer, based on the terms of the specific agreement with the customer. Revenue from Nimbelink's data subscription plans is recognized over the period of the subscription. The Company records revenue based on a five-step model in accordance with ASC 606 whereby the company (i) identifies the contract(s) with the customer, (ii) identifies the performance obligations in the contract, (iii) determines the transaction price, (iv) allocates the transaction price to the performance obligation(s) in the contract and (v) recognizes the revenue when (as) the entity satisfies performance obligations. The Company only applies the five-step model when it is probable that the entity will collect substantially all of the consideration it is entitled to in exchange for the goods or services it transfers to the customer. For product sales, each purchase order, along with existing customer agreements, when applicable, represents a contract from a customer and each product sold represents a distinct performance obligation. The contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of the Company’s revenue is recognized on a “point-in-time” basis when control passes to the customer. The revenue from service contracts and data subscription plans is recognized “over time”. A portion of the Company’s sales is made through distributors under agreements which allow for pricing credits and/or rights of return under certain circumstances. The Company has recorded a $ 0.2 million reserve, in accrued and other liabilities as of March 31, 2021, for potential rights of return from distributors. The Company’s contracts with customers do not typically include extended payment terms. Payment terms vary by contract and type of customer and generally range from 30 to 120 days from delivery. The Company provides assurance-type warranties on all product sales ranging from one to two years. The Company accrues for the estimated warranty costs at the time of sale based on historical warranty experience plus any known or expected changes in warranty exposure. Warranty costs including replacement costs for product failures in the field under warranty have been insignificant; accordingly, our warranty reserve is insignificant. Although customers may place orders for products that are delivered on multiple dates in different quarterly reporting periods; all of the orders are normally scheduled within one year from the order date. The Company has opted to not disclose the portion of revenues allocated to partially unsatisfied performance obligations, which represent products to be shipped within 12 months under open customer purchase orders, at the end of the current reporting period as allowed under ASC 606. The Company has also elected to record sales commissions when incurred, pursuant to the practical expedient under ASC 340, as the period over which the sales commission asset that would have been recognized is less than one year. Shipping and handling costs are immaterial and reported in in operating expenses in the condensed consolidated statement of operations. There were no contract assets as of March 31, 2021 and December 31, 2020. As of March 31, 2021 and December 31, 2020, the Company recorded $ 52,000 and $ 19,000 of contract liabilities, respectively . Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which requires lessees to recognize most leases on their balance sheets as lease liabilities, representing a liability to make lease payments, and corresponding right-of-use assets representing its right to use the underlying asset. The Company adopted the new accounting standard using the modified retrospective transition option as of the effective date on January 1, 2021. The adoption of this standard had a material impact on the Company's condensed consolidated balance sheets. The adoption did not have an impact on the Company's consolidated statements of operations. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes , as part of its initiative to reduce complexity in accounting standards. The amendments in the ASU include removing exceptions to incremental intraperiod tax allocation of losses and gains from different financial statement components, exceptions to the method of recognizing income taxes on interim period losses, and exceptions to deferred tax liability recognition related to foreign subsidiary investments. In addition, the ASU requires that entities recognize franchise tax based on an incremental method and requires an entity to evaluate the accounting for step-ups in the tax basis of goodwill as inside or outside of a business combination. Based on the Company’s emerging growth company status the amendments in the ASU are effective for fiscal years beginning after December 15, 2020, and interim periods within fiscal years beginning after December 15, 2021. The Company has adopted this standard as of January 1, 2021. The adoption of this standard did not have a material impact on the Company's consolidated financial statements. Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments . This standard changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. In December 2019, the FASB issued ASU 2019-10, Effective Dates which updated the effective dates of adoption of ASU 2016-13 . ASU 2016-13 is effective, for Smaller Reporting Companies, for annual and interim periods in fiscal years beginning after December 15, 2022. Companies are required to adopt the standard using a modified retrospective adoption method. The Company continues to evaluate the impact of the standard on its consolidated financial statements. In May 2019, the FASB issued ASU 2019-05, Financial Instruments-Credit Losses (Topic 326), Targeted Transition Relief , which provides entities that have certain instruments within the scope of ASC 326-20, Financial Instruments-Credit Losses-Measured at Amortized Cost , with an option to irrevocably elect the fair value option for eligible instruments. The effective date and transition methodology for this standard are the same as in ASU 2016-13. The Company continues to evaluate the impact of the standard on its consolidated financial statements.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Note 3. Net Income (Loss) Per Share Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted average shares of common stock outstanding for the period. Diluted net income (loss) per share is calculated by dividing net income (loss) by the weighted average shares of common stock outstanding for the period plus amounts representing the dilutive effect of securities that are convertible into common stock. The Company calculates diluted income (loss) per common share using the treasury stock method. The following table presents the computation of net income (loss) per share (in thousands except per share data) : Three months ended March 31, 2021 2020 Numerator: Net income (loss) $ 237 $ ( 1,202 ) Denominator: Weighted average common shares outstanding - basic 9,869 9,690 Plus dilutive effect of potential common shares 970 — Weighted average common shares outstanding - diluted 10,839 9,690 Net income (loss) per share: Basic $ 0.02 $ ( 0.12 ) Diluted $ 0.02 $ ( 0.12 ) Diluted weighted average common shares outstanding for the three months ended March 31, 2021 includes 25,201 warrants and 945,032 options . Potentially dilutive securities (in common stock equivalent shares) not included in the calculation of diluted net income (loss) per share because to do so would be anti-dilutive are as follows (in thousands) : Three months ended March 31, 2021 2020 Stock options and restricted stock 371 1,211 Warrants outstanding — 51 Total 371 1,262

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Business Combinations	Note 4. Business Combinations On January 7, 2021, the Company entered into a Stock Purchase Agreement, by and among the Company, NimbeLink, the sellers set forth therein (the Sellers) and Scott Schwalbe in his capacity as seller representative (the Purchase Agreement). NimbeLink is an industrial Internet of Things (IIoT) company focused on the design, development and delivery of edge-based cellular connectivity solutions for enterprise customers. The acquisition of NimbeLink supports the Company's transition toward becoming a more system-level company and will play an important role in the Company's overall growth strategy to broaden market diversification, especially within the IIoT space. Pursuant to the Purchase Agreement, at the closing on January 7, 2021, the Company acquired all of the outstanding stock of NimbeLink for an upfront cash purchase price of approximately $ 15.0 million, subject to working capital and other customary adjustments of $ 1.0 million and $ 0.7 million in deferred cash payments due to the Sellers fifteen months after the close of the transaction. In addition, NimbeLink’s former security holders may receive up to $ 8.0 million in contingent consideration, subject to the acquired business's achievement of certain revenue targets in 2021. The Company assumed unvested common stock options of continuing employees and service providers. Acquisition Consideration The following table summarizes the fair value of purchase consideration to acquire NimbeLink (in thousands) : Fair value of purchase consideration Cash $ 15,991 Deferred payments (1) 728 Contingent consideration (2) 5,986 Replacement options (3) 40 Total purchase consideration $ 22,745 (1) The fair value of the holdback payment was determined by discounting to present value, payments totaling $/ 0.7 million expected to be made to NimbeLink fifteen months after the close of the transaction. (2) The fair value of contingent consideration is based on applying the Monte Carlo simulation method to forecast achievement under various contingent consideration events which may result in up to $ 8 million in payments subject to the acquired business’s satisfying certain revenue targets in 2021. Key inputs in the valuation include forecasted revenue, revenue volatility and discount rate. Underlying forecast mathematics were based on Geometric Brownian Motion in a risk-neutral framework and discounted back to the applicable period in which the accumulative thresholds were achieved at discount rates commensurate with the risk and expected payout term of the contingent consideration. (3) Represents the pre-combination stock compensation expense for replacement options issued to NimbeLink employees. Preliminary Purchase Price Allocation The following is an allocation of purchase price as of the January 7, 2021 closing date based upon a preliminary estimate of the fair value of the assets acquired and liabilities assumed by the Company in the acquisition (in thousands) : Purchase price allocation Cash $ 1,806 Accounts receivable 1,127 Inventory 1,671 Prepaids and other current assets 141 Property and equipment 151 Right of use assets 402 Other assets 194 Identified intangible assets 14,065 Accounts payable ( 654 ) Accrued compensation ( 139 ) Accrued expenses and other current liabilities ( 432 ) Short-term lease liabilities ( 78 ) Long-term lease liabilities ( 324 ) Deferred tax liabilities ( 2,330 ) Identifiable net assets acquired 15,600 Goodwill 7,145 Total purchase price $ 22,745 The following is a summary of identifiable intangible assets acquired and the related expected lives for the finite-lived intangible assets (in thousands) : Category Estimated Fair value Finite-lived intangible assets Market-related intangibles 5 $ 1,700 Customer relationships 5 8,950 Developed technology 12 2,600 Covenants to non-compete 2 115 Indefinite-lived intangible assets In-process research and development N/A 700 Total identifiable intangible assets acquired $ 14,065 Assumptions in the Allocations of Purchase Price Management prepared the purchase price allocations and in doing so considered or relied in part upon reports of a third party valuation expert to calculate the fair value of certain acquired assets, which primarily included identifiable intangible assets and inventory, and the portions of the purchase consideration expected to be paid to NimbeLink securityholders in the future, as described above. Certain NimbeLink securityholders that are employees are not required to remain employed in order to receive the deferred payments and contingent consideration; accordingly, the fair value of the deferred payments and contingent consideration have been accounted for as a portion of the purchase consideration. The fair value of the customer relationships was determined using the multi-period excess earnings method, or MPEEM. MPEEM estimates the value of an intangible asset by quantifying the amount of residual (or excess) cash flows generated by the asset, and discounting those cash flows to the present. Future cash flows for contractual and non-contractual customers were estimated based on forecasted revenue and costs, taking into account the growth rates and contributory charges. The fair value of market-related intangible assets, developed technology, and in-process research and development (IPR&D) was determined using the Relief from Royalty Method. The Relief-from-Royalty method is a specific application of the discounted-cash-flow method, which is a form of the income approach. It is based on the principle that ownership of the intangible asset relieves the owner of the need to pay a royalty to another party in exchange for rights to use the asset. Key assumptions to estimate the hypothetical royalty rate include observable royalty rates, which are royalty rates in negotiated licenses and market-based royalty rates which are royalty rates found in available market data for licenses involving similar assets. Developed technology will begin amortization immediately and IPR&D will begin amortization upon the completion of each project. If any of the projects are abandoned, the Company will be required to impair the related IPR&D asset. The fair value of non-compete intangible assets was estimated using the with-or-without method. The with-and-without method estimates the value of an intangible asset by quantifying the loss of economic profits under a hypothetical condition where only the subject intangible does not exist and needs to be re-created. Projected revenues, operating expenses and cash flows are calculated in each "with" and "without" scenario and the difference in the cash flow is discounted to present value. Inventory was valued at net realizable value. Raw materials were valued at book value and finished goods were valued assuming hypothetical revenues from finished goods adjusted for disposal costs, profit attributable to the seller and holding costs. An inventory step-up of $ 0.4 million is included in the purchase price allocation above. The Company assumed liabilities in the acquisition which primarily consist of accrued employee compensation and certain operating liabilities. The liabilities assumed in these acquisitions are included in the respective purchase price allocations above. 7.1 million. The Company does not expect to deduct any of the acquired goodwill for tax purposes. Supplemental proforma financial information The following unaudited pro forma financial information presents the combined results of operations for each of the periods presented as if the NimbeLink acquisition had occurred at the beginning of 2020 (in thousands): Three months ended March 31, 2021 2020 Net revenue - pro forma combined $ 17,409 $ 15,946 Net loss - pro forma combined 236 ( 1,324 ) The following adjustments were included in the unaudited pro forma combined net revenues (in thousands) : Three months ended March 31, 2021 2020 Net revenue $ 17,377 $ 11,216 Add: Net revenue - acquired businesses 32 4,730 Net revenues - pro-forma combined $ 17,409 $ 15,946 The following adjustments were included in the unaudited pro forma combined net income (loss) (in thousands) : Three months ended March 31, 2021 2020 Net income (loss) $ 237 $ ( 1,202 ) Add: Results of operations of acquired business ( 310 ) 771 Less: pro forma adjustments Amortization of historical intangibles — 24 Amortization of acquired intangibles ( 38 ) ( 587 ) Inventory fair value adjustments 353 ( 353 ) Interest income ( 6 ) — Interest expense — 23 Net loss - pro forma combined $ 236 $ ( 1,324 ) The unaudited pro forma financial information has been adjusted to reflect the amortization expense for acquired intangibles, removal of historical intangible asset amortization and recognition of expense associated with the step-up of inventory. The pro forma data is presented for illustrative purposes only, and the historical results of NimbeLink are based on its books and records prior to the acquisition, and is not necessarily indicative of the consolidated results of operations of the combined business had the acquisition actually occurred at the beginning of fiscal year 2020. In addition, future results may vary significantly from the pro forma results reflected herein and should not be relied upon as an indication of the results of future operations of the combined business. The unaudited pro forma financial information does not reflect any operating efficiencies and cost savings that may be realized from the integration of the acquired entity. For the three months ended March 31, 2021, $ 3.2 million of revenue and $ 0.2 million of net loss included in the Company's condensed consolidated statements of operations was related to NimbeLink. The Company does not consider the revenue and net loss related to the acquired entity to be indicative of results of the acquisition due to integration activities since the acquisition date. Also see Note 7, Goodwill and Intangible Assets for further information on goodwill and intangible assets related to the NimbeLink acquisition.

Cash and Cash Equivalents

Cash and Cash Equivalents	3 Months Ended
	Mar. 31, 2021
Cash And Cash Equivalents [Abstract]
Cash and Cash Equivalents	Note 5. Cash and Cash Equivalents The following tables show the Company’s cash and cash equivalents by significant investment category as of March 31, 2021 and December 31, 2020 (in thousands) : March 31, 2021 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Cash and cash equivalents Cash $ 5,411 $ — $ — $ 5,411 $ 5,411 Level 1: Money market funds 16,047 — — 16,047 16,047 Total $ 21,458 $ — $ — $ 21,458 $ 21,458 December 31, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Cash and cash equivalents Cash $ 2,779 $ — $ — $ 2,779 $ 2,779 Level 1: Money market funds 35,394 — — 35,394 35,394 Total $ 38,173 $ — $ — $ 38,173 $ 38,173

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2021
Property Plant And Equipment [Abstract]
Property and Equipment	Note 6. Property and Equipment Depreciation and amortization of property and equipment is calculated on the straight-line method based on the shorter of the estimated useful life or the term of the lease for tenant improvements and three to fifteen years for all other property and equipment. Property and equipment consist of the following (in thousands) : March 31, 2021 December 31, 2020 Computers and software $ 607 $ 596 Furniture, fixtures, and equipment 400 400 Manufacturing and testing equipment 4,184 3,874 Construction in process 22 120 Leasehold improvements 932 932 Property and equipment, gross 6,145 5,922 Less accumulated depreciation ( 3,676 ) ( 3,545 ) Property and equipment, net $ 2,469 $ 2,377 Depreciation expense was $ 0.1 million for the three months ended March 31, 2021 and 2020, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 7. Goodwill and Intangible Assets The change in the carrying amount of goodwill during the three months ended March 31, 2021 is as follows (in thousands) : Goodwill as of December 31, 2020 $ 3,700 Goodwill from NimbeLink acquisition 7,145 Goodwill as of March 31, 2021 $ 10,845 The following is a summary of the Company’s acquired intangible assets (dollars in thousands) : Weighted Gross Accumulated Intangibles, net March 31, 2021 Market related intangibles 5 $ 1,700 $ 80 $ 1,620 Customer relationships 7 13,780 2,743 11,037 Developed technologies 11 3,680 622 3,058 In process research and development N/A 700 — 700 Covenants to non-compete 2 115 13 102 Tradenames 4 120 120 — Total intangible assets, net $ 20,095 $ 3,578 $ 16,517 December 31, 2020 Customer relationships 10 $ 4,830 $ 2,203 $ 2,627 Developed technologies 9 1,080 539 541 Tradename 3 120 120 — Total intangible assets, net $ 6,030 $ 2,862 $ 3,168 The estimated annual amortization of intangible assets for the next five years and thereafter is shown in the following table (in thousands) : Estimated future amortization 2021 (remaining nine months) $ 2,286 2022 3,026 2023 2,969 2024 2,968 2025 2,955 Thereafter 2,313 Total $ 16,517 Actual amortization expense to be reported in future periods could differ from these estimates as a result of acquisitions, divestitures, and asset impairments, among other factors. Amortization expense was $ 0.7 million and $ 0.2 million for the three months ended March 31, 2021 and 2020, respectively.

Accrued Liabilities and Other

Accrued Liabilities and Other	3 Months Ended
	Mar. 31, 2021
Payables and Accruals [Abstract]
Accrued Liabilities and Other	No t e 8. Accrued Liabilities and Other Accrued liabilities and other is comprised of the following (in thousands) : March 31, 2021 December 31, 2020 Accrued expenses $ 825 $ 519 VAT payable 339 327 Accrued income taxes 343 182 Other current liabilities 638 159 Accrued liabilities and other $ 2,145 $ 1,187

Notes Payable and Line of Credi

Notes Payable and Line of Credit	3 Months Ended
	Mar. 31, 2021
Long Term Debt [Abstract]
Notes Payable and Line of Credit	No t e 9. Notes Payable and Line of Credit On January 7, 2021, as a result of the Nimbelink acquisition, the Company assumed a revolving line of credit (Line of Credit) with Choice Financial Group (Choice) whereby Choice has made available to the Company a secured credit facility of up to the lesser of (1) $ 1.5 million or (2) the sum of (a) 80 % of the aggregate amount of third party accounts receivable balances, excluding progress billings, foreign receivables, accounts subject to dispute or setoff and doubtful accounts (Eligible Accounts) aged less than 90 days, net of 10 % allowance, and (b) 25 % of raw materials and finished goods, except those held at named contract manufacturer, after a 10 % reserve for excess and obsolete inventory. Amounts borrowed under the Line of Credit bear interest at the prime rate plus 1 %, payable monthly . The facility is secured by a commercial guarantee and a lien over the property of NimbeLink including inventory, equipment, accounts receivable, investments, deposit accounts, other rights to payment and performance and general intangibles. In the event of violation of the representations, warranties and covenants made in the agreement, the Company may not be able to utilize the Line of Credit or repayment of amounts owed pursuant to the Line of Credit could be accelerated. The Company is currently in compliance with the covenants that it is required to meet during the term of the Line of Credit. No amounts have been borrowed under this facility as of March 31, 2021.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	Note 10. Leases Operating leases The Company adopted ASC 842 on January 1, 2021, using the effective date transition method, which requires a cumulative-effect adjustment to the opening balance of retained earnings on the effective date. As a result of the adoption of ASC 842, the Company recognized right-of-use assets and lease liabilities of $ 3.2 million and $ 3.5 million, respectively, as of the January 1, 2021 effective date. There was no impact to opening retained earnings or to the condensed consolidated statement of operations for the three months ended March 31, 2021. The Company has made certain assumptions and judgements when applying ASC 842 including the adoption of the package of practical expedients available for transition. The practical expedients allowed the Company to not reassess (i) whether expired or existing contracts contained leases, (ii) lease classification for expired or existing leases and (iii) previously capitalized initial direct costs. The Company also elected not to recognize right-of-use assets and lease liabilities for short-term leases (leases with a term of twelve months or less). Operating lease arrangements primarily consist of office, warehouse and test house leases expiring at various years through 2025 . The facility leases have original lease terms of two to seven year s and contain options to extend the lease up to 5 years or terminate the lease. Options to extend are included in leased right-of-use assets and lease liabilities in the consolidated balance sheet when the Company is reasonably certain it will renew the underlying leases. Since the implicit rate of such leases is unknown and the Company is not reasonably certain to renew its leases, the Company has elected to apply a collateralized incremental borrowing rate to facility leases on the original lease term in calculating the present value of future lease payments. As of March 31, 2021, the weighted average discount rate for operating leases was 3.5 % and the weighted average remaining lease term for operating leases was 4.2 years, respectively. The Company has entered into various short-term operating leases primarily for test houses and office equipment, with an initial term of twelve months or less. These leases are not recorded on the Company's consolidated balance sheet and the related lease expense for these short-term leases is not material. During the three months ended March 31, 2021, the Company assumed a lease through the acquisition of NimbeLink. The Company recorded a right-of-use asset and lease liability of $ 0.4 million as of acquisition date, January 7, 2021 . No other right-of-use assets were obtained in exchange for lease liabilities during the three months ended March 31, 2021. Operating lease cost was $ 0.3 million and $ 0.2 million for the three months ended March 31, 2021 and 2020, respectively. The table below presents aggregate future minimum payments due under leases, reconciled to lease liabilities included in the consolidated balance sheet as of March 31, 2021 (in thousands) : Future operating lease obligations 2021 (remaining) $ 843 2022 894 2023 777 2024 773 2025 673 Total minimum payments 3,960 Less imputed interest ( 290 ) Less unrealized translation gain ( 3 ) Total lease liabilities 3,667 Less short-term lease liabilities ( 981 ) Long-term lease liability $ 2,686 The future minimum lease payments required under operating leases as of December 31, 2020, in accordance with ASC 840, Leases , were as follows (in thousands) : Year ending: 2021 $ 992 2022 721 2023 705 2024 689 2025 615 Total $ 3,722

Treasury Stock

Treasury Stock	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Treasury Stock	Note 11. Treasury Stock In August 2017 the Company’s Board of Directors (the Board) approved a share repurchase program (the 2017 Program) pursuant to which the Company could purchase up to $ 7.0 million of shares of its common stock over the twelve-month period following the establishment of the program. The repurchases under the 2017 Program were made from time to time in the open market or in privately negotiated transactions and were funded from the Company’s working capital. Repurchases are made in compliance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended, subject to market conditions, available liquidity, cash flow, applicable legal requirements and other factors. On August 7, 2018, the Board approved an extension to the 2017 Program for an additional twelve-month period ending on August 14, 2019. On September 9, 2019, the Board approved a new share repurchase program (the 2019 Program) pursuant to which the Company could purchase up to $ 7.0 million of shares of its common stock over the following twelve months . The 2019 Program mirrors all aspects and terms of the 2017 Program as described above. On September 9, 2020, the Board approved an extension to the 2019 Program for an additional twelve-month period ending September 9, 2021. During the three months ended March 31, 2021, the Company did not repurchase shares of its common stock. Since inception of the 2019 Program through March 31, 2021, the Company repurchased a total of approximately 162,000 shares of the common stock for a total cost of $ 1.6 million .

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 12. Income Taxes The Company’s effective income tax rate was 112.6 % and ( 1.4 )% for the three months ended March 31, 2021 and 2020, respectively. The variance from the U.S. federal statutory rate of 21 % for the three months ended March 31, 2021, was primarily related to the release of the valuation allowance attributable to the acquisition of NimbeLink. Management assesses its deferred tax assets quarterly to determine whether all or any portion of the asset is more likely than not unrealizable under ASC Topic 740 Income Taxes . The Company is required to establish a valuation allowance for any portion of the asset that management concludes is more likely than not to be unrealizable. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The Company’s assessment considers all evidence, both positive and negative, including the nature, frequency and severity of any current and cumulative losses, taxable income in carryback years, the scheduled reversal of deferred tax liabilities, tax planning strategies, and projected future taxable income in making this assessment. As of December 31, 2020, the Company had a valuation allowance against net deferred tax assets but for the exclusion of a deferred tax liability generated by goodwill (an indefinite lived intangible) that may not be considered a future source of taxable income in evaluating the need for a valuation allowance. In connection with the acquisition of NimbeLink, the Company recorded deferred tax liabilities associated with acquired intangible assets. As a result, for the three months ended March 31, 2021, the Company determined that it is appropriate to release a portion of the Company's valuation allowance.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2021
Class Of Stock Disclosures [Abstract]
Stockholders' Equity	Note 13. Stockholders’ Equity In August 2016, the Company's Board adopted the 2016 Equity Inventive Plan (the 2016 Plan) for employees, directors and consultants. In February 2021, the Board adopted the 2021 Employment Inducement Incentive Award Plan (Inducement Plan), which provides for grants of equity-based awards. 300,000 shares were initially reserved under the Inducement Plan. In January 2021, in connection with the NimbeLink acquisition, the Company assumed the NimbeLink Corp 2016 Stock Incentive Plan and stock options to purchase 22,871 shares of common stock issuable thereunder. The following table presents common stock reserved for future issuance (1) (in thousands) : March 31, 2021 December 31, 2020 Warrants issued and outstanding 10 51 Stock option awards issued and outstanding 2,036 1,760 Authorized for grants under the 2016 Equity Incentive Plan (2) 303 357 Authorized for grants under the Inducement Plan (3) 192 — Authorized for grants under the 2016 Employee Stock Purchase Plan (4) 343 256 2,884 2,424 (1) Treasury stock in the amount of 534,000 as of March 31, 2021 and December 31, 2020 are excluded from the table above. (2) On January 1, 2021, the number of authorized shares in the 2016 Equity Incentive Plan increased by 391,356 shares pursuant to the evergreen provisions of the 2016 Equity Incentive Plan. (3) On January 7, 2021, 300,000 shares were authorized pursuant to the terms of the Inducement Plan; 110,000 shares were issued under the inducement plan during the three months ended March 31, 2021 (4) On January 1, 2021, the number of authorized shares in the 2016 Employee Stock Purchase Plan increased by 98,000 shares pursuant to the evergreen provisions of the 2016 Employee Stock Purchase Plan.

Stock Based Compensation

Stock Based Compensation	3 Months Ended
	Mar. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Based Compensation	Note 14. Stock Based Compensation Stock Options The following table summarizes the outstanding stock option activity during the period indicated (shares in thousands) : Weighted average Number Exercise price Remaining contractual term (years) Balance at December 31, 2020 1,760 $ 10.07 Granted 431 23.35 Exercised ( 144 ) 11.45 Expired/Forfeited ( 11 ) 11.94 Balance at March 31, 2021 2,036 12.77 7.8 Vested and exercisable at March 31, 2021 1,028 9.35 6.8 Vested and expected to vest at March 31, 2021 2,036 12.77 7.8 The weighted average grant date fair value of options granted during the three months ended March 31, 2021 and for the year ended December 31, 2020, was $ 11.23 and $ 4.30 , respectively. For fully vested stock options, the aggregate intrinsic value as of March 31, 2021 and December 31, 2020 was $ 12.2 million and $ 8.2 million, respectively. For stock options expected to vest, the aggregate intrinsic value as of March 31, 2021, and December 31, 2020 , was $ 6.2 million and $ 5.3 million, respectively. At March 31, 2021 and December 31, 2020, there was $ 7.0 million and $ 3.0 million, respectively, of total unrecognized compensation cost related to unvested stock options granted under the Company’s equity plans. That cost is expected to be recognized over the next 2.8 years. Restricted Stock The following table summarizes the Company's Restricted Stock Unit (RSU) activity during the period indicated (shares in thousands) : Restricted stock units Weighted average grant date fair value Non-vested balance at December 31, 2020 202 $ 10.51 Grants 158 24.23 Vested and released ( 61 ) 10.43 Non-vested balance at March 31, 2021 299 17.75 As of March 31, 2021 and December 31, 2020 there was $ 5.0 million and $ 1.5 million, respectively, of total unrecognized compensation cost related to unvested RSUs having a weighted average remaining contractual term of 3.2 years. Employee Stock Purchase Plan (ESPP) The Company maintains the Employee Stock Purchase Plan (ESPP) that provides employees an opportunity to purchase common stock through payroll deductions. The ESPP is implemented through consecutive 6 -month offering periods commencing on March 1 and September 1 of each year. The first offering period under the ESPP commenced on March 1, 2019. The purchase price is set at 85 % of the fair market value of the Company's common stock on either the first or last trading day of the offering period, whichever is lower. Annual contributions are limited to the lower of 20 % of an employee's eligible compensation or such other limits as apply under Section 423 of the Internal Revenue Code. The ESPP is intended to qualify as an employee stock purchase plan for purposes of Section 423 of the Internal Revenue Code. Based on the 15 % discount and the fair value of the option feature of the ESPP, it is considered compensatory. Compensation expense is calculated using the fair value of the employees’ purchase rights under the Black-Scholes model. The Company currently uses authorized and unissued shares to satisfy share award exercises. Under the ESPP the Company received proceeds of $ 0.1 million from the issuances of approximately 10,000 shares in February 2021. Stock-based compensation expense Stock based compensation expense was $ 0.9 million and $ 0.7 million for the three months ended March 31, 2021 and 2020, respectively. The stock-based compensation is recorded in the consolidated statements of operations as follows (in thousands): Three months ended March 31, 2021 2020 Cost of goods sold $ 1 $ — Research and Development 204 152 Sales and marketing 215 90 General and administrative 508 426 Total stock-based compensation expense $ 928 $ 668

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 15. Commitments and Contingencies (a) Indemnification In some agreements to which the Company is a party, the Company has agreed to indemnify the other party for certain matters, including, but not limited to, product liability and intellectual property. To date, there have been no known events or circumstances that have resulted in any material costs related to these indemnification provisions and no liabilities have been recorded in the accompanying consolidated financial statements. (b) Supply Agreement In September 2020, the Company entered into a supply agreement with a vendor to purchase up to $ 2.0 million of inventory during the initial term of the agreement through December 31, 2022. As of March 31, 2021, $ 1.3 million has been paid under this supply agreement.

Concentration of Credit Risk

Concentration of Credit Risk	3 Months Ended
	Mar. 31, 2021
Risks And Uncertainties [Abstract]
Concentration of Credit Risk	Note 16. Concentration of Credit Risk (a) Concentration of Sales and Accounts Receivable The following represents customers that accounted for 10 % or more of total revenue during the three months ended March 31, 2021 and 2020 , and customers that accounted for 10 % or more of total trade accounts receivable at March 31, 2021 and 2020. Three months ended March 31, 2021 2020 Percentage of net revenue Customer A 25 % 36 % Customer B 15 9 As of March 31, 2021 2020 Percentage of gross trade accounts receivable Customer A 23 % 37 % Customer B 20 — Customer C 10 8 (b) Concentration of Purchases During the three months ended March 31, 2021 , the Company’s products were primarily manufactured by three contract manufacturers in China, one in Myanmar, one in Minnesota and by the Company’s Arizona facility. (c) Concentration of Property and Equipment The Company’s property and equipment, net by geographic region are as follows: As of March 31, 2021 December 31, 2020 North America $ 2,051 $ 1,942 Asia Pacific (APAC) 247 183 Europe, Middle East and Africa (EMEA) 171 252 Property and equipment, net $ 2,469 $ 2,377

Disaggregated Revenue

Disaggregated Revenue	3 Months Ended
	Mar. 31, 2021
Revenue From Contract With Customer [Abstract]
Disaggregated Revenue	Note 17. Disaggregated Revenue Disaggregated revenue are as follows (in thousands) : Three months ended March 31, 2021 2020 By Sales Channel: Fulfillment distributors $ 4,206 $ 6,082 OEM/ODM/Contract manufacturer 8,813 4,113 Other 4,358 1,021 Total $ 17,377 $ 11,216 By Market Group: Consumer $ 10,296 $ 8,463 Enterprise 4,382 802 Automotive 2,699 1,951 Total $ 17,377 $ 11,216 By Geography: China $ 7,956 $ 5,288 Taiwan 1,953 3,059 North America 6,657 2,456 Rest of the world 811 413 Total $ 17,377 $ 11,216 Revenue generated from the United States was $ 6.4 million and $ 2.3 million for the three months ended March 31, 2021 and 2020, respectively.

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Description of Business	Description of Business Airgain, Inc. (the Company) was incorporated in the State of California on March 20, 1995; and reincorporated in the State of Delaware on August 15, 2016. The Company is a leading provider of advanced wireless connectivity solutions and technologies used to enable high performance wireless networking across a broad range of markets, including consumer, enterprise and automotive. The Company's technologies are deployed in carrier, fleet, enterprise, residential, private, government, and public safety wireless networks and systems, including set-top boxes, access points, routers, modems, gateways, media adapters, portables, digital televisions, sensors, fleet, and asset tracking devices. The Company provides its solutions to the residential wireless local area networking, also known as WLAN, market, supplying to leading carriers, original equipment manufacturers, or OEMs, original design manufacturers, or ODMs, and chipset manufacturers. The Company’s headquarters is in San Diego, California with office space and research, design and test facilities in the United States, United Kingdom, China, and Taiwan.
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. Certain information and note disclosures normally included in the consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Interim financial results are not necessarily indicative of results anticipated for the full year. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, from which the balance sheet information herein was derived. The Condensed Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiary. All intercompany transactions and investments have been eliminated in consolidation. On January 7, 2021, the Company acquired all of the outstanding stock of NimbeLink Corp., a Delaware corporation (NimbeLink), for an upfront cash purchase price of approximately $ 15.0 million, subject to working capital and other customary adjustments of approximately $ 1.0 million as well as $ 0.7 million in deferred cash payments due to the seller fifteen months after the close of the transaction. In addition, NimbeLink’s former security holders may receive up to $ 8.0 million in additional consideration, subject to the acquired business's achievement of certain revenue targets in 2021. The transaction was recorded using the purchase method of accounting; accordingly, the results of NimbeLink are included in the Company’s condensed consolidated statements of operations and cash flows for the period subsequent to its acquisition. The unaudited condensed balance sheet as of December 31, 2020, included herein was derived from the audited financial statements as of that date but does not include all disclosures including notes required by GAAP. The unaudited condensed consolidated statements of operations for the three months ended March 31, 2021 and 2020, and the consolidated balance sheet data as of March 31, 2021, have been prepared on the same basis as the audited financial statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting of normal and recurring adjustments, necessary for a fair presentation of results of the Company’s operations and financial position for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2021 , or for any future period.
Segment Information	Segment Information The Company’s operations are located primarily in the United States and most of its assets are located in San Diego, California, Plymouth, Minnesota and Scottsdale, Arizona. The Company operates in one segment related to the sale of wireless connectivity solutions and technologies. The Company’s chief operating decision-maker is its chief executive officer, who reviews operating results on an aggregate basis and manages the Company’s operations as a single operating segment.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Reclassifications	Reclassifications Certain amounts in the prior year financial statements have been reclassified to conform to the presentation of the current year financial statements including reclassification of accrued vacation, accrued payroll and other payroll accrual balances from accrued liabilities and other to accrued compensation resulting in changes to the comparative condensed consolidated statement of cash flows .
Restricted Cash	Restricted Cash As of March 31, 2021, the Company has $ 0.2 million in cash on deposit to secure certain lease commitments. Restricted cash is recorded in Other assets in the Company’s balance sheet.
Trade Accounts Receivable	Trade Accounts Receivable Trade accounts receivable is adjusted for all known uncollectible accounts. The policy for determining when receivables are past due or delinquent is based on the contractual terms agreed upon. Accounts are written off once all collection efforts have been exhausted. An allowance for doubtful accounts is established when, in the opinion of management, collection of the account is doubtful. No allowance for doubtful accounts was recorded as of March 31, 2021 and December 31, 2020.
Inventory	Inventory The majority of the Company’s products are manufactured by third parties that retain ownership of the inventory until title is transferred to the customer at the shipping point. In certain instances, shipping terms are delivery at place and the Company is responsible for arranging transportation and delivery of goods ready for unloading at the named place. In those instances, the Company bears all risk involved in bringing the goods to the named place and records the related inventory in transit to the customer as inventory on the accompanying balance sheet. The Company also manufactures certain of its products at its facility located in Scottsdale, Arizona. Inventory is stated at the lower of cost or net realizable value. For items manufactured by the Company, cost is determined using the weighted average cost method. For items manufactured by third parties, cost is determined using the first-in, first-out (FIFO) method. Any adjustments to reduce the cost of inventories to their net realizable value are recognized in earnings in the current period. As of March 31, 2021, the Company’s inventories consist of raw materials of $ 1.5 million and finished goods of $ 0.9 million as of March 31, 2021. As of December 31, 2020, inventories consisted of raw materials of $ 0.8 million and finished goods of $ 0.2 million, respectively. Provisions for excess and obsolete inventories are estimated based on product life cycles, quality issues, and historical experience and were $ 10,000 as of March 31, 2021 and December 31, 2020 .
Fair Value Measurements	Fair Value Measurements The carrying values of the Company’s financial instruments, including cash, trade accounts receivable, accounts payable, and accrued liabilities approximate their fair values due to the short maturity of these instruments. Fair value measurements are market-based measurements, not entity-specific measurements. Therefore, fair value measurements are determined based on the assumptions that market participants would use in pricing the asset or liability. The Company follows a three-level hierarchy to prioritize the inputs used in the valuation techniques to derive fair values. The basis for fair value measurements for each level within the hierarchy is described below:  Level 1: Quoted prices in active markets for identical assets or liabilities  Level 2: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets.  Level 3: Valuations derived from valuation techniques in which one or more significant inputs are unobservable in active markets.
Business Combinations	Business Combinations The Company applies the provisions of Accounting Standards Codification (ASC) 805, Business Combinations , in accounting for its acquisitions. It requires the Company to recognize separately from goodwill the assets acquired and the liabilities assumed, at the acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the acquisition date fair values of the net assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date, as well as the contingent consideration, where applicable, its estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the consolidated statements of operations. In addition, uncertain tax positions and tax-related valuation allowances assumed, if any, in connection with a business combination are initially estimated as of the acquisition date. The Company re-evaluates these items quarterly based upon facts and circumstances that existed as of the acquisition date with any adjustments to the preliminary estimates being recorded to goodwill if identified within the measurement period. Subsequent to the end of the measurement period or final determination of the estimated value of the tax allowance or contingency, whichever comes first, changes to these uncertain tax positions and tax related valuation allowances will affect the income tax provision (benefit) in the consolidated statements of operations and could have a material impact on the results of operations and financial position.
Revenue Recognition	Revenue Recognition Effective January 1, 2019, the Company adopted Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers , and the related amendments, which are codified into ASC 606, Revenue from Contracts with Customers , using the modified retrospective method. The Company generates revenue mainly from the sale of wireless connectivity solutions and technologies. A portion of revenue is generated from service agreements and data subscription plans with certain customers. The revenue generated from service contracts and data subscription plans is insignificant. The Company recognizes revenue to depict the transfer of control of the promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled for those goods or services. Control passes to the customers either when the products are shipped to or received by the customer, based on the terms of the specific agreement with the customer. Revenue from Nimbelink's data subscription plans is recognized over the period of the subscription. The Company records revenue based on a five-step model in accordance with ASC 606 whereby the company (i) identifies the contract(s) with the customer, (ii) identifies the performance obligations in the contract, (iii) determines the transaction price, (iv) allocates the transaction price to the performance obligation(s) in the contract and (v) recognizes the revenue when (as) the entity satisfies performance obligations. The Company only applies the five-step model when it is probable that the entity will collect substantially all of the consideration it is entitled to in exchange for the goods or services it transfers to the customer. For product sales, each purchase order, along with existing customer agreements, when applicable, represents a contract from a customer and each product sold represents a distinct performance obligation. The contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of the Company’s revenue is recognized on a “point-in-time” basis when control passes to the customer. The revenue from service contracts and data subscription plans is recognized “over time”. A portion of the Company’s sales is made through distributors under agreements which allow for pricing credits and/or rights of return under certain circumstances. The Company has recorded a $ 0.2 million reserve, in accrued and other liabilities as of March 31, 2021, for potential rights of return from distributors. The Company’s contracts with customers do not typically include extended payment terms. Payment terms vary by contract and type of customer and generally range from 30 to 120 days from delivery. The Company provides assurance-type warranties on all product sales ranging from one to two years. The Company accrues for the estimated warranty costs at the time of sale based on historical warranty experience plus any known or expected changes in warranty exposure. Warranty costs including replacement costs for product failures in the field under warranty have been insignificant; accordingly, our warranty reserve is insignificant. Although customers may place orders for products that are delivered on multiple dates in different quarterly reporting periods; all of the orders are normally scheduled within one year from the order date. The Company has opted to not disclose the portion of revenues allocated to partially unsatisfied performance obligations, which represent products to be shipped within 12 months under open customer purchase orders, at the end of the current reporting period as allowed under ASC 606. The Company has also elected to record sales commissions when incurred, pursuant to the practical expedient under ASC 340, as the period over which the sales commission asset that would have been recognized is less than one year. Shipping and handling costs are immaterial and reported in in operating expenses in the condensed consolidated statement of operations. There were no contract assets as of March 31, 2021 and December 31, 2020. As of March 31, 2021 and December 31, 2020, the Company recorded $ 52,000 and $ 19,000 of contract liabilities, respectively .
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , which requires lessees to recognize most leases on their balance sheets as lease liabilities, representing a liability to make lease payments, and corresponding right-of-use assets representing its right to use the underlying asset. The Company adopted the new accounting standard using the modified retrospective transition option as of the effective date on January 1, 2021. The adoption of this standard had a material impact on the Company's condensed consolidated balance sheets. The adoption did not have an impact on the Company's consolidated statements of operations. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes , as part of its initiative to reduce complexity in accounting standards. The amendments in the ASU include removing exceptions to incremental intraperiod tax allocation of losses and gains from different financial statement components, exceptions to the method of recognizing income taxes on interim period losses, and exceptions to deferred tax liability recognition related to foreign subsidiary investments. In addition, the ASU requires that entities recognize franchise tax based on an incremental method and requires an entity to evaluate the accounting for step-ups in the tax basis of goodwill as inside or outside of a business combination. Based on the Company’s emerging growth company status the amendments in the ASU are effective for fiscal years beginning after December 15, 2020, and interim periods within fiscal years beginning after December 15, 2021. The Company has adopted this standard as of January 1, 2021. The adoption of this standard did not have a material impact on the Company's consolidated financial statements. Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments . This standard changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. In December 2019, the FASB issued ASU 2019-10, Effective Dates which updated the effective dates of adoption of ASU 2016-13 . ASU 2016-13 is effective, for Smaller Reporting Companies, for annual and interim periods in fiscal years beginning after December 15, 2022. Companies are required to adopt the standard using a modified retrospective adoption method. The Company continues to evaluate the impact of the standard on its consolidated financial statements. In May 2019, the FASB issued ASU 2019-05, Financial Instruments-Credit Losses (Topic 326), Targeted Transition Relief , which provides entities that have certain instruments within the scope of ASC 326-20, Financial Instruments-Credit Losses-Measured at Amortized Cost , with an option to irrevocably elect the fair value option for eligible instruments. The effective date and transition methodology for this standard are the same as in ASU 2016-13. The Company continues to evaluate the impact of the standard on its consolidated financial statements.

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Summary of Computation of Net Income (Loss) Per Share	The following table presents the computation of net income (loss) per share (in thousands except per share data) : Three months ended March 31, 2021 2020 Numerator: Net income (loss) $ 237 $ ( 1,202 ) Denominator: Weighted average common shares outstanding - basic 9,869 9,690 Plus dilutive effect of potential common shares 970 — Weighted average common shares outstanding - diluted 10,839 9,690 Net income (loss) per share: Basic $ 0.02 $ ( 0.12 ) Diluted $ 0.02 $ ( 0.12 )
Summary of Potentially Dilutive Securities	Potentially dilutive securities (in common stock equivalent shares) not included in the calculation of diluted net income (loss) per share because to do so would be anti-dilutive are as follows (in thousands) : Three months ended March 31, 2021 2020 Stock options and restricted stock 371 1,211 Warrants outstanding — 51 Total 371 1,262

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2021
Business Acquisition [Line Items]
Summary of identifiable intangible assets and related expected lives for finite-lived intangible assets	The following is a summary of identifiable intangible assets acquired and the related expected lives for the finite-lived intangible assets (in thousands) : Category Estimated Fair value Finite-lived intangible assets Market-related intangibles 5 $ 1,700 Customer relationships 5 8,950 Developed technology 12 2,600 Covenants to non-compete 2 115 Indefinite-lived intangible assets In-process research and development N/A 700 Total identifiable intangible assets acquired $ 14,065
NimbeLink
Business Acquisition [Line Items]
Summary of Fair Value of Purchase Consideration	The following table summarizes the fair value of purchase consideration to acquire NimbeLink (in thousands) : Fair value of purchase consideration Cash $ 15,991 Deferred payments (1) 728 Contingent consideration (2) 5,986 Replacement options (3) 40 Total purchase consideration $ 22,745 (1) The fair value of the holdback payment was determined by discounting to present value, payments totaling $/ 0.7 million expected to be made to NimbeLink fifteen months after the close of the transaction. (2) The fair value of contingent consideration is based on applying the Monte Carlo simulation method to forecast achievement under various contingent consideration events which may result in up to $ 8 million in payments subject to the acquired business’s satisfying certain revenue targets in 2021. Key inputs in the valuation include forecasted revenue, revenue volatility and discount rate. Underlying forecast mathematics were based on Geometric Brownian Motion in a risk-neutral framework and discounted back to the applicable period in which the accumulative thresholds were achieved at discount rates commensurate with the risk and expected payout term of the contingent consideration. (3) Represents the pre-combination stock compensation expense for replacement options issued to NimbeLink employees.
Summary of Assets Acquired and Liabilities Assumed at Fair Value	The following is an allocation of purchase price as of the January 7, 2021 closing date based upon a preliminary estimate of the fair value of the assets acquired and liabilities assumed by the Company in the acquisition (in thousands) : Purchase price allocation Cash $ 1,806 Accounts receivable 1,127 Inventory 1,671 Prepaids and other current assets 141 Property and equipment 151 Right of use assets 402 Other assets 194 Identified intangible assets 14,065 Accounts payable ( 654 ) Accrued compensation ( 139 ) Accrued expenses and other current liabilities ( 432 ) Short-term lease liabilities ( 78 ) Long-term lease liabilities ( 324 ) Deferred tax liabilities ( 2,330 ) Identifiable net assets acquired 15,600 Goodwill 7,145 Total purchase price $ 22,745
Summary of Unaudited Pro forma Revenue and Income (loss)	The following unaudited pro forma financial information presents the combined results of operations for each of the periods presented as if the NimbeLink acquisition had occurred at the beginning of 2020 (in thousands): Three months ended March 31, 2021 2020 Net revenue - pro forma combined $ 17,409 $ 15,946 Net loss - pro forma combined 236 ( 1,324 ) The following adjustments were included in the unaudited pro forma combined net revenues (in thousands) : Three months ended March 31, 2021 2020 Net revenue $ 17,377 $ 11,216 Add: Net revenue - acquired businesses 32 4,730 Net revenues - pro-forma combined $ 17,409 $ 15,946 The following adjustments were included in the unaudited pro forma combined net income (loss) (in thousands) : Three months ended March 31, 2021 2020 Net income (loss) $ 237 $ ( 1,202 ) Add: Results of operations of acquired business ( 310 ) 771 Less: pro forma adjustments Amortization of historical intangibles — 24 Amortization of acquired intangibles ( 38 ) ( 587 ) Inventory fair value adjustments 353 ( 353 ) Interest income ( 6 ) — Interest expense — 23 Net loss - pro forma combined $ 236 $ ( 1,324 )

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	3 Months Ended
	Mar. 31, 2021
Cash And Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents by Significant Investment Category	The following tables show the Company’s cash and cash equivalents by significant investment category as of March 31, 2021 and December 31, 2020 (in thousands) : March 31, 2021 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Cash and cash equivalents Cash $ 5,411 $ — $ — $ 5,411 $ 5,411 Level 1: Money market funds 16,047 — — 16,047 16,047 Total $ 21,458 $ — $ — $ 21,458 $ 21,458 December 31, 2020 Amortized cost Gross unrealized gains Gross unrealized losses Estimated fair value Cash and cash equivalents Cash $ 2,779 $ — $ — $ 2,779 $ 2,779 Level 1: Money market funds 35,394 — — 35,394 35,394 Total $ 38,173 $ — $ — $ 38,173 $ 38,173

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2021
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consist of the following (in thousands) : March 31, 2021 December 31, 2020 Computers and software $ 607 $ 596 Furniture, fixtures, and equipment 400 400 Manufacturing and testing equipment 4,184 3,874 Construction in process 22 120 Leasehold improvements 932 932 Property and equipment, gross 6,145 5,922 Less accumulated depreciation ( 3,676 ) ( 3,545 ) Property and equipment, net $ 2,469 $ 2,377

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Change in the Carrying Amount of Goodwill	The change in the carrying amount of goodwill during the three months ended March 31, 2021 is as follows (in thousands) : Goodwill as of December 31, 2020 $ 3,700 Goodwill from NimbeLink acquisition 7,145 Goodwill as of March 31, 2021 $ 10,845
Summary of Acquired Intangible Assets	The following is a summary of the Company’s acquired intangible assets (dollars in thousands) : Weighted Gross Accumulated Intangibles, net March 31, 2021 Market related intangibles 5 $ 1,700 $ 80 $ 1,620 Customer relationships 7 13,780 2,743 11,037 Developed technologies 11 3,680 622 3,058 In process research and development N/A 700 — 700 Covenants to non-compete 2 115 13 102 Tradenames 4 120 120 — Total intangible assets, net $ 20,095 $ 3,578 $ 16,517 December 31, 2020 Customer relationships 10 $ 4,830 $ 2,203 $ 2,627 Developed technologies 9 1,080 539 541 Tradename 3 120 120 — Total intangible assets, net $ 6,030 $ 2,862 $ 3,168
Schedule of Estimated Annual Amortization of Intangible Assets	The estimated annual amortization of intangible assets for the next five years and thereafter is shown in the following table (in thousands) : Estimated future amortization 2021 (remaining nine months) $ 2,286 2022 3,026 2023 2,969 2024 2,968 2025 2,955 Thereafter 2,313 Total $ 16,517

Accrued Liabilities and Other (

Accrued Liabilities and Other (Tables)	3 Months Ended
	Mar. 31, 2021
Accrued Liabilities and Other Liabilities [Abstract]
Summary of Accrued Liabilities and Other	Accrued liabilities and other is comprised of the following (in thousands) : March 31, 2021 December 31, 2020 Accrued expenses $ 825 $ 519 VAT payable 339 327 Accrued income taxes 343 182 Other current liabilities 638 159 Accrued liabilities and other $ 2,145 $ 1,187

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Schedule of Future Minimum Lease Payments Under Operating Leases	The table below presents aggregate future minimum payments due under leases, reconciled to lease liabilities included in the consolidated balance sheet as of March 31, 2021 (in thousands) : Future operating lease obligations 2021 (remaining) $ 843 2022 894 2023 777 2024 773 2025 673 Total minimum payments 3,960 Less imputed interest ( 290 ) Less unrealized translation gain ( 3 ) Total lease liabilities 3,667 Less short-term lease liabilities ( 981 ) Long-term lease liability $ 2,686 The future minimum lease payments required under operating leases as of December 31, 2020, in accordance with ASC 840, Leases , were as follows (in thousands) : Year ending: 2021 $ 992 2022 721 2023 705 2024 689 2025 615 Total $ 3,722

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Class Of Stock Disclosures [Abstract]
Schedule of Common Stock Reserved for Future Issuance	The following table presents common stock reserved for future issuance (1) (in thousands) : March 31, 2021 December 31, 2020 Warrants issued and outstanding 10 51 Stock option awards issued and outstanding 2,036 1,760 Authorized for grants under the 2016 Equity Incentive Plan (2) 303 357 Authorized for grants under the Inducement Plan (3) 192 — Authorized for grants under the 2016 Employee Stock Purchase Plan (4) 343 256 2,884 2,424 (1) Treasury stock in the amount of 534,000 as of March 31, 2021 and December 31, 2020 are excluded from the table above. (2) On January 1, 2021, the number of authorized shares in the 2016 Equity Incentive Plan increased by 391,356 shares pursuant to the evergreen provisions of the 2016 Equity Incentive Plan. (3) On January 7, 2021, 300,000 shares were authorized pursuant to the terms of the Inducement Plan; 110,000 shares were issued under the inducement plan during the three months ended March 31, 2021 (4) On January 1, 2021, the number of authorized shares in the 2016 Employee Stock Purchase Plan increased by 98,000 shares pursuant to the evergreen provisions of the 2016 Employee Stock Purchase Plan.

Stock Based Compensation (Table

Stock Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Outstanding Stock Option Activity	The following table summarizes the outstanding stock option activity during the period indicated (shares in thousands) : Weighted average Number Exercise price Remaining contractual term (years) Balance at December 31, 2020 1,760 $ 10.07 Granted 431 23.35 Exercised ( 144 ) 11.45 Expired/Forfeited ( 11 ) 11.94 Balance at March 31, 2021 2,036 12.77 7.8 Vested and exercisable at March 31, 2021 1,028 9.35 6.8 Vested and expected to vest at March 31, 2021 2,036 12.77 7.8
Summary of Outstanding Restricted Stock Unit Activity	The following table summarizes the Company's Restricted Stock Unit (RSU) activity during the period indicated (shares in thousands) : Restricted stock units Weighted average grant date fair value Non-vested balance at December 31, 2020 202 $ 10.51 Grants 158 24.23 Vested and released ( 61 ) 10.43 Non-vested balance at March 31, 2021 299 17.75
Schedule Of Stock Based Compensation Expenses	The stock-based compensation is recorded in the consolidated statements of operations as follows (in thousands): Three months ended March 31, 2021 2020 Cost of goods sold $ 1 $ — Research and Development 204 152 Sales and marketing 215 90 General and administrative 508 426 Total stock-based compensation expense $ 928 $ 668

Concentration of Credit Risk (T

Concentration of Credit Risk (Tables)	3 Months Ended
	Mar. 31, 2021
Risks And Uncertainties [Abstract]
Schedule of Concentration of Sales and Accounts Receivable	The following represents customers that accounted for 10 % or more of total revenue during the three months ended March 31, 2021 and 2020 , and customers that accounted for 10 % or more of total trade accounts receivable at March 31, 2021 and 2020. Three months ended March 31, 2021 2020 Percentage of net revenue Customer A 25 % 36 % Customer B 15 9 As of March 31, 2021 2020 Percentage of gross trade accounts receivable Customer A 23 % 37 % Customer B 20 — Customer C 10 8
Summary Of Property and Equipment By Geographical Region	The Company’s property and equipment, net by geographic region are as follows: As of March 31, 2021 December 31, 2020 North America $ 2,051 $ 1,942 Asia Pacific (APAC) 247 183 Europe, Middle East and Africa (EMEA) 171 252 Property and equipment, net $ 2,469 $ 2,377

Disaggregated Revenue (Tables)

Disaggregated Revenue (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue From Contract With Customer [Abstract]
Summary of Disaggregated Revenue	Disaggregated revenue are as follows (in thousands) : Three months ended March 31, 2021 2020 By Sales Channel: Fulfillment distributors $ 4,206 $ 6,082 OEM/ODM/Contract manufacturer 8,813 4,113 Other 4,358 1,021 Total $ 17,377 $ 11,216 By Market Group: Consumer $ 10,296 $ 8,463 Enterprise 4,382 802 Automotive 2,699 1,951 Total $ 17,377 $ 11,216 By Geography: China $ 7,956 $ 5,288 Taiwan 1,953 3,059 North America 6,657 2,456 Rest of the world 811 413 Total $ 17,377 $ 11,216 Revenue generated from the United States was $ 6.4 million and $ 2.3 million for the three months ended March 31, 2021 and 2020, respectively.

Description of Business and B_3

Description of Business and Basis of Presentation - Additional Information (Details)	Jan. 07, 2021USD ($)	Mar. 31, 2021Segment
Business Acquisition [Line Items]
Number of operating segments | Segment		1
NimbeLink
Business Acquisition [Line Items]
Business combination, consideration transferred, upfront cash purchase price	$ 15,000,000
Business combination, consideration transferred, working capital and other customary adjustments	1,000,000
Business combination, consideration transferred, deferred cash payments	728,000
NimbeLink | Maximum
Business Acquisition [Line Items]
Business combination, consideration transferred, additional considerations	$ 8,000,000

Significant Accounting Policies

Significant Accounting Policies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2021USD ($)d	Dec. 31, 2020USD ($)
Significant Accounting Policies [Line Items]
Restricted cash	$ 200,000
Allowance for doubtful trade accounts receivable	0	$ 0
Inventory raw material	1,500,000	800,000
Inventory finished good	900,000	200,000
Provision for excess and obsolete inventories	10,000	10,000
Reserve For Pricing Credits And Rights Of Return	200,000
Contract asset	0	0
Contract liability	$ 52,000	$ 19,000
Minimum [Member]
Significant Accounting Policies [Line Items]
Revenue Recognition Payment Terms | d	30
Maximum [Member]
Significant Accounting Policies [Line Items]
Revenue Recognition Payment Terms | d	120

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Summary of Computation of Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net income (loss)	$ 237	$ (1,202)
Denominator:
Weighted average common shares outstanding - basic	9,869	9,690
Plus dilutive effect of potential common shares	970	0
Weighted average common shares outstanding - diluted	10,839	9,690
Net income (loss) per share:
Basic	$ 0.02	$ (0.12)
Diluted	$ 0.02	$ (0.12)

Net Income (Loss) Per Share - A

Net Income (Loss) Per Share - Additional Information (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net Income (Loss) Per Share [Line Items]
Diluted weighted average common shares outstanding	10,839	9,690
Warrants
Net Income (Loss) Per Share [Line Items]
Diluted weighted average common shares outstanding	25,201
Options Outstanding
Net Income (Loss) Per Share [Line Items]
Diluted weighted average common shares outstanding	945,032

Net Income (Loss) Per Share -_2

Net Income (Loss) Per Share - Summary of Potentially Dilutive Securities (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities not included in the calculation of diluted net loss per share	371	1,262
Stock Options and Restricted Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities not included in the calculation of diluted net loss per share	371	1,211
Warrants outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potentially dilutive securities not included in the calculation of diluted net loss per share		51

Business Combinations - Additio

Business Combinations - Additional Information (Details) - USD ($)	Jan. 07, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill		$ 10,845,000		$ 3,700,000
Sales		17,377,000	$ 11,216,000
Net income (loss)		237,000	$ (1,202,000)
NimbeLink
Business Acquisition [Line Items]
Upfront cash purchase price	$ 15,991,000
Cash purchase price prior to customary adjustments	15,000,000
Other customary adjustments	1,000,000
Deferred payments	728,000
Purchase price allocation, inventory step-up	400,000
Goodwill	7,145,000
Sales		3,200,000
Net income (loss)		$ 200,000
NimbeLink | Maximum
Business Acquisition [Line Items]
Business combination, consideration transferred, contingent considerations	$ 8,000,000

Business Combinations - Summary

Business Combinations - Summary of Fair Value of Purchase Consideration (Details) - NimbeLink $ in Thousands	Jan. 07, 2021USD ($)
Business Acquisition [Line Items]
Cash	$ 15,991
Deferred payments	728
Contingent consideration	5,986
Replacement options	40
Total purchase consideration	$ 22,745

Business Combination - Summary

Business Combination - Summary of Fair Value of Purchase Consideration (Parenthetical) (Details) - NimbeLink $ in Thousands	Jan. 07, 2021USD ($)
Business Acquisition [Line Items]
Deferred payments	$ 728
Contingent consideration	5,986
Maximum
Business Acquisition [Line Items]
Contingent consideration	$ 8,000

Business Combinations - Summa_2

Business Combinations - Summary of Assets Acquired and Liabilities Assumed at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jan. 07, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 10,845		$ 3,700
NimbeLink [Member]
Business Acquisition [Line Items]
Cash		$ 1,806
Accounts receivable		1,127
Inventory		1,671
Prepaid and other current assets		141
Property and equipment		151
Right of use assets		402
Other assets		194
Identified intangible assets		14,065
Accounts payable		(654)
Accrued compensation		(139)
Accrued expenses and other current liabilities		(432)
Short-term lease liabilities		(78)
Long-term lease liabilities		(324)
Deferred tax liabilities		(2,330)
Identifiable net assets acquired		15,600
Goodwill		7,145
Total purchase price		$ 22,745

Business Combinations - Summa_3

Business Combinations - Summary of Identifiable Intangible Assets and Related Expected Lives for Finite-lived Intangible Assets (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Acquired Finite Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, fair value	$ 14,065
Market related intangibles
Acquired Finite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Estimated life in years	5 years
Finite-lived intangible assets, fair value	$ 1,700
Customer relationships
Acquired Finite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Estimated life in years	5 years
Finite-lived intangible assets, fair value	$ 8,950
Developed technologies
Acquired Finite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Estimated life in years	12 years
Finite-lived intangible assets, fair value	$ 2,600
Covenants to non-compete
Acquired Finite Lived Intangible Assets [Line Items]
Finite-lived intangible assets, Estimated life in years	2 years
Finite-lived intangible assets, fair value	$ 115
In-process research and development
Acquired Finite Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, fair value	$ 700

Business Combinations - Summa_4

Business Combinations - Summary of Unaudited Pro Forma Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Business Acquisition [Line Items]
Net revenue - pro forma combined	$ 17,409	$ 15,946
Net loss - pro forma combined	236	(1,324)
NimbeLink [Member]
Business Acquisition [Line Items]
Net revenue - pro forma combined	17,409	15,946
Net loss - pro forma combined	$ 236	$ 1,324

Business Combinations - Summa_5

Business Combinations - Summary of Adjustments in Unaudited Pro Forma Combined Net Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Business Acquisition [Line Items]
Net revenue	$ 17,377	$ 11,216
Add: Net revenue - acquired businesses	32	4,730
Net revenue - pro forma combined	$ 17,409	$ 15,946

Business Combinations - Summa_6

Business Combinations - Summary of Adjustments in Unaudited Pro Forma Combined Net Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Business Acquisition [Line Items]
Net income (loss)	$ 237	$ (1,202)
Add: Results of operations of acquired business	(310)	771
Less: pro forma adjustments
Amortization of historical intangibles		24
Amortization of acquired intangibles	(38)	(587)
Inventory fair value adjustments	353	(353)
Interest income	(6)
Interest expense		23
Net loss - pro forma combined	$ 236	$ (1,324)

Cash and Cash Equivalents - Sch

Cash and Cash Equivalents - Schedule of Cash and Cash Equivalents by Significant Investment Category (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Cash And Cash Equivalents And Short Term Investments [Line Items]
Cash	$ 5,411	$ 2,779
Cash and cash equivalents and Short term investments, Amortized cost	21,458	38,173
Cash and cash equivalents and Short term investments, Estimated fair value	21,458	38,173
Cash and cash equivalents	21,458	38,173	$ 22,533
Money Market Funds | Level 1
Cash And Cash Equivalents And Short Term Investments [Line Items]
Cash equivalents	$ 16,047	$ 35,394

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Property Plant And Equipment [Line Items]
Depreciation expense	$ 131	$ 122
Other Property and Equipment | Minimum
Property Plant And Equipment [Line Items]
Property and equipment, estimated useful life	3 years
Other Property and Equipment | Maximum
Property Plant And Equipment [Line Items]
Property and equipment, estimated useful life	15 years

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 6,145	$ 5,922
Less accumulated depreciation	(3,676)	(3,545)
Property and equipment, net	2,469	2,377
Computers and Software
Property Plant And Equipment [Line Items]
Property and equipment, gross	607	596
Furniture, Fixtures, and Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	400	400
Manufacturing and Testing Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	4,184	3,874
Construction in Process
Property Plant And Equipment [Line Items]
Property and equipment, gross	22	120
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 932	$ 932

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Change in the Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	$ 10,845	$ 3,700
Goodwill from NimbeLink acquisition	$ 7,145

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Summary of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 20,095	$ 6,030
Accumulated amortization	3,578	2,862
Total	$ 16,517	$ 3,168
Customer relationships
Acquired Finite Lived Intangible Assets [Line Items]
Weighted average amortization period (years)	7 years	10 years
Gross carrying amount	$ 13,780	$ 4,830
Accumulated amortization	2,743	2,203
Total	$ 11,037	$ 2,627
Developed technologies
Acquired Finite Lived Intangible Assets [Line Items]
Weighted average amortization period (years)	11 years	9 years
Gross carrying amount	$ 3,680	$ 1,080
Accumulated amortization	622	539
Total	3,058	$ 541
In Process R&D
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying amount	700
Accumulated amortization	0
Total	$ 700
Covenants to non-compete
Acquired Finite Lived Intangible Assets [Line Items]
Weighted average amortization period (years)	2 years
Gross carrying amount	$ 115
Accumulated amortization	13
Total	$ 102
Tradename
Acquired Finite Lived Intangible Assets [Line Items]
Weighted average amortization period (years)	4 years	3 years
Gross carrying amount	$ 120	$ 120
Accumulated amortization	120	120
Total	$ 0	$ 0
Market related intangibles
Acquired Finite Lived Intangible Assets [Line Items]
Weighted average amortization period (years)	5 years
Gross carrying amount	$ 1,700
Accumulated amortization	80
Total	$ 1,620

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Estimated Annual Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
2021 (remaining nine months)	$ 2,286
2022	3,026
2023	2,969
2024	2,968
2025	2,955
Thereafter	2,313
Total	$ 16,517	$ 3,168

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization	$ 716	$ 164

Accrued Liabilities and Other -

Accrued Liabilities and Other - Summary of Accrued Liabilities and Other (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Accrued Liabilities and Other Liabilities [Abstract]
Accrued expenses	$ 825	$ 519
VAT payable	339	327
Accrued income taxes	343	182
Other current liabilities	638	159
Accrued and other liabilities	$ 2,145	$ 1,187

Leases (Additional Information)

Leases (Additional Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Operating lease right-of-use assets	$ 3,340		$ 0
Operating lease liability	$ 3,667
Lessee operating lease description	The practical expedients allowed the Company to not reassess (i) whether expired or existing contracts contained leases, (ii) lease classification for expired or existing leases and (iii) previously capitalized initial direct costs.
Operating lease option to extend	5 years
Operating lease weighted average discount rate percent	3.50%
Operating lease weighted average remaining lease term	4 years 2 months 12 days
Date of acquisition	Jan. 7, 2021
Operating lease cost	$ 300	$ 200
Maximum [Member]
Operating lease term of contract	7 years
Minimum [Member]
Operating lease term of contract	2 years
NimbeLink [Member]
Operating lease right-of-use assets	$ 400
Operating lease liability	$ 400
Office Warehouse And Test House [Member]
Lease Expiration Date	Dec. 31, 2025
ASC 842 [Member]
Operating lease right-of-use assets	$ 3,200
Operating lease liability	$ 3,500

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments on Operating Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2021 (remaining)	$ 843	$ 992
2022	894	721
2023	777	705
2024	773	689
2025	673	615
Total minimum payments	3,960	3,722
Less imputed interest	(290)
Less unrealized translation gain	3
Total lease liabilities	3,667
Less short-term lease liabilities	(981)	0
Long-term lease liability	$ 2,686	$ 0

Notes Payable and Line of Cre_2

Notes Payable and Line of Credit - Additional Information (Details) - Choice Financial Group (Choice) - USD ($) $ in Millions	Jan. 07, 2021	Jan. 07, 2021	Mar. 31, 2021
NimbeLink | Revolving Credit Facility
Line Of Credit Facility [Line Items]
Line of credit facility allowable amount	$ 1.5	$ 1.5
Line of credit facility, percentage of aggregate eligible accounts		80.00%
Line of credit facility, percentage of net allowance		10.00%
Line of credit facility, percentage of raw materials and finished goods		25.00%
Line of credit facility, percentage of reserve for excess and obsolete inventory		10.00%
Line of Credit
Line Of Credit Facility [Line Items]
Line of credit			$ 0
Line of credit facility covenant terms			The facility is secured by a commercial guarantee and a lien over the property of NimbeLink including inventory, equipment, accounts receivable, investments, deposit accounts, other rights to payment and performance and general intangibles. In the event of violation of the representations, warranties and covenants made in the agreement, the Company may not be able to utilize the Line of Credit or repayment of amounts owed pursuant to the Line of Credit could be accelerated.
Line of credit facility covenant compliance			The Company is currently in compliance with the covenants that it is required to meet during the term of the Line of Credit.
Prime Rate | Line of Credit
Line Of Credit Facility [Line Items]
Basis spread on variable interest rate	1.00%
Line of credit facility frequency of payments	monthly
Line of credit facility interest rate description	prime rate plus 1%, payable monthly

Treasury Stock - Additional Inf

Treasury Stock - Additional Information (Details) - USD ($) $ in Millions	Sep. 09, 2020	Sep. 09, 2019	Aug. 07, 2018	Aug. 31, 2017	Mar. 31, 2021
Equity Class Of Treasury Stock [Line Items]
Stock repurchase, shares					162,000
Common stock repurchase, value					$ 1.6
Common Stock | Share Repurchase Program August 2017
Equity Class Of Treasury Stock [Line Items]
Stock approved for repurchase, value				$ 7
Period of stock repurchase program				12 months
Additional period of stock repurchase program			12 months
Common Stock | Share Repurchase Program September 9, 2019
Equity Class Of Treasury Stock [Line Items]
Stock approved for repurchase, value		$ 7
Period of stock repurchase program		12 months
Additional period of stock repurchase program	12 months

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	112.60%	(1.40%)
U.S. federal statutory tax rate	21.00%

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - shares		Mar. 31, 2021	Feb. 28, 2021	Jan. 31, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[1]	2,884,000			2,424,000
2021 Inducement Plan
Class Of Stock [Line Items]
Shares available for grant			300,000
Common stock, reserved for future issuance	[1],[2]	192,000			0
2016 Equity Incentive Plan
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[1],[3]	303,000			357,000
2016 Equity Incentive Plan | NimbeLink
Class Of Stock [Line Items]
Common stock, reserved for future issuance				22,871
[1]	Treasury stock in the amount of 534,000 as of March 31, 2021 and December 31, 2020 are excluded from the table above.
[2]	On January 7, 2021, 300,000 shares were authorized pursuant to the terms of the Inducement Plan; 110,000 shares were issued under the inducement plan during the three months ended March 31, 2021
[3]	On January 1, 2021, the number of authorized shares in the 2016 Equity Incentive Plan increased by 391,356 shares pursuant to the evergreen provisions of the 2016 Equity Incentive Plan.

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Common Stock Reserved for Future Issuance (Details) - shares		Mar. 31, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[1]	2,884,000	2,424,000
Warrants Issued and Outstanding
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[1]	10,000	51,000
Stock Option Awards Issued and Outstanding
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[1]	2,036,000	1,760,000
Authorized for Grants under the 2016 Equity Incentive Plan
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[1],[2]	303,000	357,000
Authorized for grants under the 2016 Employee Stock Purchase Plan
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[1],[3]	343,000	256,000
Authorized for Grants under the Inducement Plan
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[1],[4]	192,000	0
[1]	Treasury stock in the amount of 534,000 as of March 31, 2021 and December 31, 2020 are excluded from the table above.
[2]	On January 1, 2021, the number of authorized shares in the 2016 Equity Incentive Plan increased by 391,356 shares pursuant to the evergreen provisions of the 2016 Equity Incentive Plan.
[3]	On January 1, 2021, the number of authorized shares in the 2016 Employee Stock Purchase Plan increased by 98,000 shares pursuant to the evergreen provisions of the 2016 Employee Stock Purchase Plan.
[4]	On January 7, 2021, 300,000 shares were authorized pursuant to the terms of the Inducement Plan; 110,000 shares were issued under the inducement plan during the three months ended March 31, 2021

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Common Stock Reserved for Future Issuance (Parenthetical) (Details) - shares	Jan. 07, 2021	Jan. 01, 2021	Mar. 31, 2021	Dec. 31, 2020
Class Of Stock [Line Items]
Treasury stock, shares at cost			534,000	534,000
2016 Equity Incentive Plan
Class Of Stock [Line Items]
Number of authorized shares increased		391,356
2016 Employee Stock Purchase Plan
Class Of Stock [Line Items]
Number of authorized shares increased		98,000
2021 Inducement Plan
Class Of Stock [Line Items]
Number of authorized shares	300,000
Number of shares issued	110,000

Stock Based Compensation - Summ

Stock Based Compensation - Summary of Outstanding Stock Option Activity (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of shares, Beginning balance | shares	1,760
Number of shares, Granted | shares	431
Number of shares, Exercised | shares	(144)
Number of shares, Expired/Forfeited | shares	(11)
Number of shares, Ending balance | shares	2,036
Number of shares, Vested and exercisable | shares	1,028
Number of shares, Vested and expected to vest | shares	2,036
Weighted average exercise price, Beginning balance | $ / shares	$ 10.07
Weighted average exercise price, Granted | $ / shares	23.35
Weighted average exercise price, Exercised | $ / shares	11.45
Weighted average exercise price, Expired/Forfeited | $ / shares	11.94
Weighted average exercise price, Ending balance | $ / shares	12.77
Weighted average exercise price, Vested and exercisable | $ / shares	9.35
Weighted average exercise price, Vested and expected to vest | $ / shares	$ 12.77
Weighted average remaining contractual term (years)	7 years 9 months 18 days
Weighted average remaining contractual term (years), Vested and exercisable	6 years 9 months 18 days
Weighted average remaining contractual term (years), Vested and expected to vest	7 years 9 months 18 days

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Feb. 28, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant-date fair value of options granted		$ 11.23		$ 4.30
Stock options vested aggregate intrinsic value		$ 12,200		$ 8,200
Stock options expected to vest aggregate intrinsic value		6,200		5,300
Share-based payment arrangement, expense		$ 928	$ 668
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Offering period of employee stock purchase plan		6 months
Limited percentage of annual contribution		20.00%
Percentage of discount and fair value of option		15.00%
Proceeds from stock issued during period	$ 100
Number of stock issued during period	10,000
Employee Stock Purchase Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Purchase price percentage of market value of common stock		85.00%
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total unrecognized compensation cost of unvested stock options		$ 7,000
Total unrecognized compensation cost, period for recognition		2 years 9 months 18 days
Total unrecognized compensation cost				3,000
Restricted Stock Unit (RSU)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average remaining contractual term		3 years 2 months 12 days
Total unrecognized compensation cost		$ 5,000		$ 1,500

Stock Based Compensation - Su_2

Stock Based Compensation - Summary of Outstanding Restricted Stock Unit Activity (Details) - Restricted Stock Unit (RSU) shares in Thousands	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock units, Beginning balance | shares	202
Restricted stock units, Grants | shares	158
Restricted stock units, Vested and released | shares	(61)
Restricted stock units, Ending balance | shares	299
Weighted average grant date fair value, Beginning balance | $ / shares	$ 10.51
Weighted average grant date fair value, Grants | $ / shares	24.23
Weighted average grant date fair value, Vested and released | $ / shares	10.43
Weighted average grant date fair value, Ending balance | $ / shares	$ 17.75

Stock Based Compensation - Sche

Stock Based Compensation - Schedule Of Stock Based Compensation Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense	$ 928	$ 668
Cost of goods sold
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense	1	0
Research and Development Expense [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense	204	152
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense	215	90
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based payment arrangement, expense	$ 508	$ 426

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - Supply Agreement $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Commitment And Contingencies [Line Items]
Payments for inventory	$ 1.3
Maximum
Commitment And Contingencies [Line Items]
Purchase of inventory	$ 2

Concentration of Credit Risk -

Concentration of Credit Risk - Additional Information (Details) - Vendor	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
China
Concentration Risk [Line Items]
Number of vendors	3
Myanmar
Concentration Risk [Line Items]
Number of vendors	1
Minnesota
Concentration Risk [Line Items]
Number of vendors	1
Customer Concentration Risk | Net Revenue
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	10.00%
Customer Concentration Risk | Trade Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	10.00%

Concentration of Credit Risk _2

Concentration of Credit Risk - Schedule of Concentration of Sales and Accounts Receivable (Details) - Customer Concentration Risk	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net Revenue
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	10.00%
Net Revenue | Customer A
Concentration Risk [Line Items]
Concentration risk percentage	25.00%	36.00%
Net Revenue | Customer B
Concentration Risk [Line Items]
Concentration risk percentage	15.00%	9.00%
Trade Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	10.00%
Trade Accounts Receivable | Customer A
Concentration Risk [Line Items]
Concentration risk percentage	23.00%	37.00%
Trade Accounts Receivable | Customer B
Concentration Risk [Line Items]
Concentration risk percentage	20.00%	0.00%
Trade Accounts Receivable | Customer C
Concentration Risk [Line Items]
Concentration risk percentage	10.00%	8.00%

Concentration of Credit Risk _3

Concentration of Credit Risk - Schedule of Concentration of Fixed Assets by Geographical Regions (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	$ 2,469	$ 2,377
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	2,051	1,942
Asia Pacific (APAC)
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	247	183
Europe, Middle East and Africa (EMEA)
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	$ 171	$ 252

Disaggregated Revenue - Summary

Disaggregated Revenue - Summary of Disaggregated Revenue By Sales Channel (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	$ 17,377	$ 11,216
Fulfillment Distributors
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	4,206	6,082
OEM/ODM/Contract Manufacturer
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	8,813	4,113
Other
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	$ 4,358	$ 1,021

Disaggregated Revenue - Summa_2

Disaggregated Revenue - Summary of Disaggregated Revenue By Market Group (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation Of Revenue [Line Items]
Sales	$ 17,377	$ 11,216
Consumer
Disaggregation Of Revenue [Line Items]
Sales	10,296	8,463
Enterprise
Disaggregation Of Revenue [Line Items]
Sales	4,382	802
Automotive
Disaggregation Of Revenue [Line Items]
Sales	$ 2,699	$ 1,951

Disaggregated Revenue - Summa_3

Disaggregated Revenue - Summary of Disaggregated Revenue By Geography (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	$ 17,377	$ 11,216
China
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	7,956	5,288
Taiwan
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	1,953	3,059
North America
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	6,657	2,456
Rest of the world
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	$ 811	$ 413

Disaggregated Revenues - Additi

Disaggregated Revenues - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	$ 17,377	$ 11,216
United States
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	$ 6,400	$ 2,300