Airgain (AIRG) 10-Q 10 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Aug. 02, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
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	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		10,423,964
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common stock, 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	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 9,270	$ 11,903
Trade accounts receivable, net	8,626	8,741
Inventories	4,797	4,226
Prepaid expenses and other current assets	1,688	2,284
Total current assets	24,381	27,154
Property and equipment, net	2,544	2,765
Leased right-of-use assets	1,814	2,217
Goodwill	10,845	10,845
Intangible assets, net	9,718	11,203
Other assets	210	216
Total assets	49,512	54,400
Current liabilities:
Accounts payable	5,659	6,507
Accrued compensation	1,100	2,874
Accrued liabilities and other	3,527	2,615
Short-term lease liabilities	921	904
Total current liabilities	11,207	12,900
Deferred tax liability	146	139
Long-term lease liabilities	1,080	1,536
Total liabilities	12,433	14,575
Commitments and contingencies (Note 15)
Stockholders’ equity:
Common stock and additional paid-in capital, par value $0.0001, 200,000 shares authorized; 10,964 shares issued and 10,423 shares outstanding at June 30, 2023; and 10,767 shares issued and 10,226 shares outstanding at December 31, 2022.	113,599	111,282
Treasury stock, at cost: 541 shares at June 30, 2023 and December 31, 2022.	(5,364)	(5,364)
Accumulated deficit	(71,156)	(66,093)
Total stockholders’ equity	37,079	39,825
Total liabilities and stockholders’ equity	$ 49,512	$ 54,400

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
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	10,964,000	10,767,000
Common stock, shares outstanding	10,423,000	10,226,000
Treasury stock, shares at cost	541,000	541,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Sales	$ 15,830	$ 19,286	$ 32,274	$ 36,808
Cost of goods sold	9,551	11,793	19,677	22,159
Gross profit	6,279	7,493	12,597	14,649
Operating expenses:
Research and development	2,590	2,962	5,039	6,204
Sales and marketing	2,305	2,889	5,171	5,744
General and administrative	3,596	3,255	7,389	6,740
Total operating expenses	8,491	9,106	17,599	18,688
Loss from operations	(2,212)	(1,613)	(5,002)	(4,039)
Other expense (income):
Interest income, net	(16)	(6)	(34)	(11)
Other expense	11	15	15	30
Total other (income) expense	5	9	(19)	19
Loss before income taxes	(2,207)	(1,622)	(4,983)	(4,058)
Income tax expense (benefit)	2	(3)	80	82
Net loss	$ (2,205)	$ (1,619)	$ (5,063)	$ (4,140)
Net loss per share:
Basic	$ (0.21)	$ (0.16)	$ (0.49)	$ (0.41)
Diluted	$ (0.21)	$ (0.16)	$ (0.49)	$ (0.41)
Weighted average shares used in calculating loss per share:
Basic	10,413	10,219	10,340	10,188
Diluted	10,413	10,219	10,340	10,188

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (2,205)	$ (1,619)	$ (5,063)	$ (4,140)
Comprehensive loss	$ (2,205)	$ (1,619)	$ (5,063)	$ (4,140)

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 Deficit
Beginning balance at Dec. 31, 2021	$ 44,173	$ 106,971	$ (5,364)	$ (57,434)
Stock-based compensation		2,079
Issuance of shares for stock purchase and option plans		136
Net loss	(4,140)			(4,140)
Ending balance at Jun. 30, 2022	42,248	109,186	(5,364)	(61,574)
Beginning balance at Mar. 31, 2022	42,823	108,142	(5,364)	(59,955)
Stock-based compensation		1,028
Issuance of shares for stock purchase and option plans		16
Net loss	(1,619)			(1,619)
Ending balance at Jun. 30, 2022	42,248	109,186	(5,364)	(61,574)
Beginning balance at Dec. 31, 2022	39,825	111,282	(5,364)	(66,093)
Stock-based compensation		2,842
Common stock withheld related to net share settlement of equity awards		(690)
Issuance of shares for stock purchase and option plans		165
Net loss	(5,063)			(5,063)
Ending balance at Jun. 30, 2023	37,079	113,599	(5,364)	(71,156)
Beginning balance at Mar. 31, 2023	38,300	112,615	(5,364)	(68,951)
Stock-based compensation		968
Common stock withheld related to net share settlement of equity awards		(12)
Issuance of shares for stock purchase and option plans		28
Net loss	(2,205)			(2,205)
Ending balance at Jun. 30, 2023	$ 37,079	$ 113,599	$ (5,364)	$ (71,156)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (5,063)	$ (4,140)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	342	337
Loss on disposal of property and equipment	11	3
Amortization of intangible assets	1,485	1,513
Stock-based compensation	1,949	2,455
Deferred tax liability	7	18
Changes in operating assets and liabilities:
Trade accounts receivable	115	935
Inventories	(571)	328
Prepaid expenses and other current assets	596	(554)
Other assets	6	75
Accounts payable	(877)	1,159
Accrued compensation	(880)	(193)
Accrued liabilities and other	912	94
Lease liabilities	(36)	(50)
Net cash (used in) provided by operating activities	(2,004)	1,980
Cash flows from investing activities:
Purchases of property and equipment	(104)	(174)
Proceeds from sale of equipment	0	10
Net cash used in investing activities	(104)	(164)
Cash flows from financing activities:
Cash paid for business acquisition contingent consideration	0	(7,015)
Payments for withholding taxes related to net share settlement of equity awards	(690)	0
Issuance of common stock, net	165	136
Net cash used in financing activities	(525)	(6,879)
Net decrease in cash, cash equivalents and restricted cash	(2,633)	(5,063)
Cash, cash equivalents, and restricted cash; beginning of period	12,078	14,686
Cash, cash equivalents, and restricted cash; end of period	9,445	9,623
Supplemental disclosure of cash flow information:
Income taxes paid	64	110
Supplemental disclosure of non-cash investing and financing activities:
Operating lease liabilities resulting from right-of-use assets	11	254
Accrual of property and equipment	29	429
Cash and cash equivalents	9,270	9,448
Restricted cash included in prepaid expenses and other current assets and other assets long term	175	175
Total cash, cash equivalents, and restricted cash	$ 9,445	$ 9,623

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2023
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. was incorporated in the State of California on March 20, 1995; and reincorporated in the State of Delaware on August 17, 2016. Airgain, Inc. together with its subsidiary NimbeLink Corp. are herein refer to as the “Company,” “we,” or “our”. The Company is a leading provider of connectivity solutions including embedded components, external antennas, and integrated systems that enable wireless networking in the consumer, enterprise, and automotive markets. The Company’s headquarters is in San Diego, California. 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, 2022 , from which the balance sheet information herein was derived. The unaudited 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. Segment Information The Company’s operations are located primarily in the United States and most of its assets are located in San Diego, California and Plymouth, Minnesota. The Company operates in one segment related to providing connectivity solutions – embedded components, external antennas, and integrated systems. The Company’s chief operating decision-maker is our 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 period financial statements have been reclassified to conform to the presentation of the current period financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies During the six months ended June 30, 2023, there have been no material changes to the Company’s significant accounting policies as described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. Trade Accounts Receivable We perform ongoing credit evaluations of our customers and assess each customer’s credit worthiness. The policy for determining when receivables are past due or delinquent is based on the contractual terms agreed upon. We monitor collections and payments from our customers and analyze for an allowance for credit losses. The allowance for credit losses is based upon applying an expected credit loss rate to receivables based on the historical loss rate and is adjusted for current conditions, including any specific customer collection issues identified, and economic conditions forecast. Delinquent account balances are written off after management has determined that the likelihood of collection is remote. Inventories As of April 2022, all 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 some situations, the Company retains ownership of inventory which is held in third-party contract manufacturing facilities. 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 consolidated balance sheets. In the second quarter of 2022, we closed our facility located in Scottsdale, Arizona where certain of our products were previously manufactured. Inventory is stated at the lower of cost or net realizable value. For items manufactured by us, cost is determined using the weighted average cost method. For items manufactured by third parties, cost is determined using the first-in, first-out method (FIFO). Any adjustments to reduce the cost of inventories to their net realizable value are recognized in earnings in the current period. Write downs for excess and obsolete inventories are estimated based on product life cycles, quality issues, and historical experience. Property and Equipment Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, generally three to ten years . The estimated useful lives for leasehold improvements are determined as either the estimated useful life of the asset or the lease term, whichever is shorter. Repairs and maintenance are expensed as incurred. Property and equipment are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. When assets are disposed of (or otherwise sold), the cost and related accumulated depreciation are removed from the accounts and any gain or loss on the disposal of property and equipment is classified as other expense (income) in the Company's consolidated statement of operations. Goodwill Goodwill represents the excess of cost over fair value of net assets acquired. Goodwill is not amortized but is tested for impairment annually using either a qualitative assessment, and / or quantitative assessment, which is based on comparing the fair value of a reporting unit with its carrying amount. If the carrying amount of a reporting unit exceeds its fair value, a goodwill impairment loss is recorded. We complete a goodwill impairment test as of December 31 each year or more frequently if we believe indicators of impairment exist. Other Intangible Assets The Company’s identifiable intangible assets are comprised of acquired intangibles, developed technologies, customer relationships and non-compete agreements. The cost of the market-related intangible assets with finite lives is amortized on a straight-line basis over the assets’ respective estimated useful lives. The Company periodically re-evaluates the original assumptions and estimated lives of long-lived assets and finite-lived intangible assets. Long-lived assets and finite-lived intangibles are assessed annually for impairment or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If an asset is considered to be impaired, the impairment recognized is equal to the amount by which the carrying value of the asset exceeds its fair value. Revenue Recognition 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 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 transfers to 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 the NimbeLink 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. We only apply the five-step model when it is probable that we will collect substantially all of the consideration that we are entitled in exchange for the goods or services that we transfer 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. Most of the Company’s revenue is recognized on a “point-in-time” basis when control passes to the customer. The revenue from service contracts is recognized either at a "point-in-time" or “over time” based on the terms and conditions in the contract. Revenue from data subscription plans relate to purchased asset trackers with activated data lines, through a third-party service provider. Subscription plans are recognized monthly. Service revenues are earned based on contractual milestones. Prepayments are deferred revenues and are recorded as contract liabilities. We recognize the contract liabilities over service periods ranging from three (3) to eighteen (18) months. The Company offers return rights and/or pricing credits under certain circumstances. We estimate product returns based on historical sales and return trends and record against revenue and corresponding refund liability. The Company's contracts with customers do not typically include extended payment terms. Payment terms may vary by contract and type of customer and generally range from 30 to 90 days from delivery. The Company provides assurance-type warranties on all product sales ranging from one to two years. The estimated warranty costs are accrued for at the time of sale based on historical warranty experience plus any known or expected changes in warranty exposure. 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, Other Assets and Deferred Costs , as the period over which the sales commission asset that would have been recognized is less than one year. There were no contract assets as of June 30, 2023 and December 31, 2022 . Shipping and Transportation Costs Shipping and other transportation costs expensed as incurred were $ 0.1 million and $ 0.2 million for the three months ended June 30, 2023 and 2022 , respectively. These costs are included in sales and marketing expenses in the accompanying consolidated statements of operations. Research and Development Costs Research and development costs are expensed as incurred. Advertising Costs Advertising costs are expensed as incurred. These costs are included in sales and marketing expenses in the accompanying consolidated statements of operations. Stock-Based Compensation We recognize compensation costs related to stock options and restricted stock units granted to employees and directors based on the estimated fair value of the awards on the date of grant. We estimate the option grant fair values, and the resulting stock-based compensation expense, using the Black-Scholes option-pricing model. The grant date fair value of stock-based awards are expensed on a straight-line basis over the requisite service period of the entire reward. The Company recognizes forfeitures when incurred. Fair Value Measurements The carrying values of the Company’s financial instruments, including cash, trade accounts receivable, accounts payable, accrued liabilities and deferred purchase price obligations 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. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (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. The Company adopted this standard in the first quarter of fiscal 2023; it did not have a material impact on our financial statements. Recently Issued Accounting Pronouncements There are no recent accounting pronouncements issued by the FASB that the Company expects would have a material impact on the Company's financial statements.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	Note 3. Net Loss Per Share Basic net loss per share is calculated by dividing net loss available to common stockholders by the weighted average shares of common stock outstanding for the period. Diluted net loss per share is calculated by dividing net 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 loss per common share using the treasury stock method. The following table presents the computation of net loss per shar e (in thousands except per share data): Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Numerator: Net loss $ ( 2,205 ) $ ( 1,619 ) $ ( 5,063 ) $ ( 4,140 ) Denominator: Basic weighted average common shares outstanding 10,413 10,219 10,340 10,188 Plus dilutive effect of potential common shares — — — — Diluted weighted average common shares outstanding 10,413 10,219 10,340 10,188 Net loss per share: Basic $ ( 0.21 ) $ ( 0.16 ) $ ( 0.49 ) $ ( 0.41 ) Diluted $ ( 0.21 ) $ ( 0.16 ) $ ( 0.49 ) $ ( 0.41 ) Potentially dilutive securities (in common stock equivalent shares) not included in the calculation of diluted net loss per share because to do so would be anti-dilutive are as follow s (in thousands): Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Stock options, restricted stock and performance stock 2,413 2,122 2,369 2,032 Common stock equivalent shares 2,413 2,122 2,369 2,032

Cash and Cash Equivalents

Cash and Cash Equivalents	6 Months Ended
	Jun. 30, 2023
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	Note 4. Cash and Cash Equivalents The following tables show the Company’s cash and cash equivalents by significant investment category (in thousands): June 30, 2023 Amortized Estimated fair value Cash and cash equivalents Cash $ 9,249 $ 9,249 $ 9,249 Level 1: Money market funds 21 $ 21 $ 21 Total $ 9,270 $ 9,270 $ 9,270 December 31, 2022 Amortized Estimated fair value Cash and cash equivalents Cash $ 8,323 $ 8,323 $ 8,323 Level 1: Money market funds 3,580 3,580 3,580 Total $ 11,903 $ 11,903 $ 11,903 Restricted Cash As of June 30, 2023 and December 31, 2022, the Company had $ 175,000 in cash on deposit to secure certain lease commitments; $ 80,000 of which is short-term in nature and recorded in prepaid expenses and other current assets and $ 95,000 of which is restricted for more than twelve months and recorded in other assets in the Company’s consolidated balance sheet.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Note 5. Inventory Inventories are comprised of the following (in thousands): June 30, 2023 December 31, 2022 Raw materials $ 921 $ 1,060 Finished goods 3,876 3,166 Total Inventory $ 4,797 $ 4,226 Consigned inventories, which are included in total inventories, are comprised of the following (in thousands): June 30, 2023 December 31, 2022 Raw materials $ 470 $ 631 Finished goods 2,505 2,272 Total Consigned Inventory $ 2,975 $ 2,903 Excess and obsolete inventory reserves were $ 1.0 million and $ 0.9 million as of June 30, 2023 and December 31, 2022 , respectively.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2023
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 ten years for all other property and equipment. Property and equipment consist of the follo wing (in thousands): June 30, 2023 December 31, 2022 Manufacturing and testing equipment $ 5,461 $ 5,194 Leasehold improvements 848 848 Computers and software 502 703 Furniture, fixtures, and equipment 427 409 Construction in process 37 16 Property and equipment, gross 7,275 7,170 Less accumulated depreciation ( 4,731 ) ( 4,405 ) Property and equipment, net $ 2,544 $ 2,765 Depreciation expense was $ 0.2 million for each of the three months ended June 30, 2023 and 2022 and $ 0.3 million for each of the six months ended June 30, 2023 and 2022 .

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets	Note 7. Intangible Assets Other Intangible Assets The following is a summary of the Company’s acquired other intangible assets (dollars in thousands): June 30, 2023 Weighted average amortization period (in years) Gross carrying amount Accumulated amortization Net carrying amount Market related intangibles 5 $ 1,820 $ 965 $ 855 Customer relationships 7 13,780 7,857 $ 5,923 Developed technologies 11 4,380 1,440 $ 2,940 Covenants to non-compete 2 115 115 $ — Total intangible assets, net $ 20,095 $ 10,377 $ 9,718 December 31, 2022 Weighted average amortization period (in years) Gross carrying amount Accumulated amortization Net carrying amount Market related intangibles 5 $ 1,820 $ 795 $ 1,025 Customer relationships 7 13,780 6,720 7,060 Developed technologies 11 4,380 1,263 3,117 Covenants to non-compete 2 115 114 1 Total intangible assets, net $ 20,095 $ 8,892 $ 11,203 Estimated annual amortization of intangible assets for the next five years and thereafter is shown in the foll owing table (in thousands): Estimated future amortization 2023 (remaining six months) $ 1,484 2024 2,968 2025 2,958 2026 557 2027 356 Thereafter 1,395 Total $ 9,718 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 $ 0.8 million for the three months ended June 30, 2023 and 2022, respectively. Amortization expense was $ 1.5 million and $ 1.5 million for the six months ended June 30, 2023 and 2022, respectively. No impairment losses were recorded against the other intangibles during the three months ended June 30, 2023 and 2022. Goodwill No impairment losses were recorded against the goodwill during the three months ended June 30, 2023 and 2022 .

Accrued Liabilities and Other

Accrued Liabilities and Other	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accrued Liabilities and Other	No t e 8. Accrued Liabilities and Other Accrued liabilities and other is comprised of the follo wing (in thousands): June 30, 2023 December 31, 2022 Accrued expenses $ 1,003 $ 815 VAT payable 339 339 Accrued income taxes 197 166 Advanced payments from contract manufacturers 148 210 Contract liabilities — 32 Goods received not invoiced 1,702 529 Other current liabilities 138 524 Accrued liabilities and other $ 3,527 $ 2,615

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	Note 9. Leases Operating leases The Company has made certain assumptions and judgements when applying ASC 842, the Company elected not to recognize right-of-use assets and lease liabilities for short-term leases (lease terms of twelve months or less). Operating lease arrangements primarily consist of office, warehouse and test house leases expiring during different years through 2025 . The facility leases have original lease terms of approximately one to five years and may contain options to extend up to 5 years and/or terminate early. Options to extend are included in leased right-of-use assets and lease liabilities in the consolidated balance sheet when we are reasonably certain to renew a lease. Since the implicit rate of such leases is unknown and we may not be reasonably certain to renew 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 June 30, 2023 and December 31, 2022, the weighted average discount rate for operating leases was 3.9 % , and the weighted average remaining lease term for operating leases was 2.2 years and 2.7 years, respectively. The Company has entered into various short-term operating leases, primarily for test houses and office equipment with initial terms of 12 months or less. These short-term leases are not recorded on the Company's consolidated balance sheet and the related short-term lease expense was $ 27,000 and $ 42,000 , for the three months ended June 30, 2023 and 2022, respectively. Total operating lease cost was $ 0.2 million each for the three months ended June 30, 2023 and 2022 and $ 0.5 million each for the six months ended June 30, 2023 and 2022. The table below presents aggregate future minimum payments due under leases, reconciled to lease liabilities included in the consolidated balance sheet as of June 30, 2023 (in thousands): Estimated future lease obligation 2023 (remaining six months) $ 498 2024 902 2025 687 Total minimum payments 2,087 Less imputed interest ( 88 ) Less unrealized translation gain 2 Total lease liabilities 2,001 Less short-term lease liabilities ( 921 ) Long-term lease liability $ 1,080

Treasury Stock

Treasury Stock	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Treasury Stock	Note 10. Treasury Stock In 2019, our Board of Directors (the Board) approved a share repurchase program (the Program) pursuant to which the Company could purchase up to $ 7.0 million of shares of our common stock. The repurchases under the 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 were 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. Since inception of the stock repurchase programs, including prior share repurchase programs, the Company has purchased a total of approximately 541,000 shares for a total cost of $ 5.4 million. The Program expired in September 2021.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Note 11. Income Taxes The Company’s effective income tax rate was - 1.6 % and - 2.0 % for the six months ended June 30, 2023 and 2022, respectively. The variance from the U.S. federal statutory rate of 21.0 % for the six months ended June 30, 2023 was primarily attributable to the utilization of deferred tax attributes that had a full valuation allowance. The variance from the U.S. federal statutory rate of 21.0 % for the six months ended June 30, 2022 was primarily attributable to the utilization of deferred tax attributes that had a full valuation allowance. Management assesses its deferred tax assets quarterly to determine whether all or any portion of the asset is more likely than not unrealizable under Accounting Standards Codification (ASC) Topic 740. 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, 2022, the Company had a valuation allowance against net deferred tax assets of $ 11.9 million, however, the exclusion of a deferred tax liability generated by goodwill (an indefinite lived intangible) 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.

Stockholders Deficit

Stockholders Deficit	6 Months Ended
	Jun. 30, 2023
Class of Stock Disclosures [Abstract]
Stockholders' Equity	Note 12. 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. The following table presents common stock reserved for future issuance (1) (in thousands): June 30, 2023 December 31, 2022 Stock options issued and outstanding 2,129 2,065 Stock awards issued and outstanding 766 581 Authorized for grants under the 2016 Equity Incentive Plan (2) 354 507 Authorized for grants under the Inducement Plan (3) 324 294 Authorized for grants under the 2016 Employee Stock Purchase Plan (4) 457 378 4,030 3,825 (1) The table above excludes 541,000 treasury stock shares as of June 30, 2023 and December 31, 2022 . (2) On January 1, 2023, the number of authorized shares in the 2016 Plan increased by 431,000 shares pursuant to the evergreen provisions of the 2016 Plan. (3) On February 5, 2021, 300,000 shares were authorized pursuant to the terms of the Inducement Plan. (4) On January 1, 2023, the number of authorized shares in the 2016 Employee Stock Purchase Plan increased by 100,000 sh ares pursuant to the evergreen provisions of the 2016 Employee Stock Purchase Plan.

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock Based Compensation	Note 13. Stock Based Compensation Stock-based compensation expense Stock-based compensation is recorded in the consolidated statements of operations as fol lows (in thousands): Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Cost of goods sold $ 29 $ 22 $ 44 $ 26 Research and development 280 278 517 554 Sales and marketing 115 296 276 583 General and administrative 544 618 1,112 1,292 Total stock-based compensation expense $ 968 $ 1,214 $ 1,949 $ 2,455 Stock Options The following table summarizes the outstanding stock option activity during the period indi cated (shares in thousands): Weighted average Number of Exercise Remaining contractual term (in years) Aggregate Intrinsic Value (in thousands) Balance at December 31, 2022 2,065 $ 11.78 6.7 $ 758 Granted 267 $ 5.71 Exercised ( 12 ) $ 2.30 $ 40 Expired/Forfeited ( 191 ) $ 13.08 Balance at June 30, 2023 2,129 $ 10.95 6.4 $ 608 Vested and exercisable at June 30, 2023 1,491 $ 11.45 5.3 $ 541 Vested and expected to vest at June 30, 2023 2,129 $ 10.95 6.4 $ 608 The weighted average grant date fair value of options granted during the six months ended June 30, 2023 was $ 2.92 . The grant-date fair value of each option award is estimated on the date of grant using the Black-Scholes-Merton option-pricing model. For stock options vested and expected to vest, the aggregate intrinsic value as of June 30, 2023 was $ 0.6 million. At June 30, 2023, there was $ 2.8 million of unrecognized compensation cost related to unvested stock options granted under the Company’s equity plans that is expected to be recognized over the next 2.6 years. Restricted Stock The following table summarizes the Company's restricted stock unit (RSU) activity during the period indi cated (shares in thousands): Restricted Weighted average grant date fair value Balance at December 31, 2022 444 $ 11.78 Grants 583 $ 5.27 Vested and released ( 284 ) $ 8.06 Forfeited ( 91 ) $ 9.40 Balance at June 30, 2023 652 $ 7.91 As of June 30, 2023, there was $ 4.3 million of total unrecognized compensation cost related to unvested restricted stock units having a weighted average remaining contractual term of 3.1 years. Performance Stock Units The following table summarizes the Company's performance stock unit (PSU) activity during the period indi cated (shares in thousands): Performance Weighted average grant date fair value Balance at December 31, 2022 137 $ 2.09 Grants — $ — Vested and released — $ — Forfeited ( 23 ) $ 2.20 Balance at June 30, 2023 114 $ 2.07 Service as well as market and performance conditions determine the number of PSUs that the holder will earn from 0% to 150% of the target number of shares. The per centage received is based on the Company common stock price targets over a three-year service period. Additionally, the Company must achieve or exceed 75% of the year to date revenue target measured at the end of the quarter in which the price target is achieved. As of June 30, 2023, there was $ 0.1 million of total unrecognized compensation cost related to unvested PSUs having a weighted average remaining contractual term of 1.8 years. We estimate the fair value of PSUs with a market condition using a Monte Carlo simulation model as of the date of grant using historical volatility. Share-Settled Obligation During the six months ended June 30, 2023, the Company settled $ 0.9 million 2022 bonus awards by granting 187,200 immediately vested RSUs. Employee Stock Purchase Plan (ESPP) The Company maintains the 2016 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 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. During the six months ended June 30, 2023, the Company received $ 0.1 million from the issuance of 21,300 shares under the ESPP .

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 14. Commitments and Contingencies Severance and Exit Costs The following table presents details of the liability we recorded related to severance and exit costs: Severance and Exit Costs (In thousands) Balance at December 31, 2022 $ — Accrued to expense 205 Payments ( 92 ) Balance at March 31, 2023 $ 113 Accrued to expense 365 Payments ( 71 ) Balance at June 30, 2023 $ 407 The severance liability is recorded in accrued compensation on the accompanying unaudited condensed consolidated balance sheet. The severance and exit cost were recorded in the relevant operating expense departments in the accompanying unaudited condensed consolidated statement of operations. Potential product warranty claims The Company had a general warranty accrual of approximately $ 0.1 million and $ 0.2 million as of June 30, 2023 and December 31, 2022, respectively. 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.

Concentration of Credit Risk

Concentration of Credit Risk	6 Months Ended
	Jun. 30, 2023
Risks and Uncertainties [Abstract]
Concentration of Credit Risk	Note 15. Concentration of Credit Risk Concentration of Sales and Accounts Receivable The following represents customers that accounted for 10 % or more of total revenue: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Customer A 24 % 14 % 19 % 14 % Customer B 14 % 8 % 13 % 8 % Customer C 9 % 22 % 12 % 19 % Customer D 9 % 14 % 10 % 15 % Customer E 6 % 28 % 7 % 28 % The following represents customers that accounted for 10 % or more of total trade accounts receivable: June 30, 2023 December 31, 2022 Customer A 21 % 21 % Customer B 11 % 8 % Customer C 7 % 12 % Customer D 5 % 15 % The allowance for credit losses as of June 30, 2023 and December 31, 2022 was not material. Concentration of Purchases During the six months ended June 30, 2023, the Company’s products were primarily manufactured by six contract manufacturers with locations in China, Mexico, Minnesota, and Vietnam. Concentration of Cash The bank where most of the Company’s cash was held was placed into receivership with the FDIC on March 10, 2023. The Company’s cash deposits exceeded the FDIC insured limits at that time. However, the Treasury, the Federal Reserve, and the FDIC, as receiver, jointly released a statement that depositors at this specific bank would have access to their funds, including funds in excess of standard FDIC insurance limits. The Company has not experienced losses on these accounts. In the second quarter of 2023, the Company moved most of the deposits out of this institution to several accounts at a larger institutional bank. Concentration of Property and Equipment The Company’s property and equipment, net by geographic region, are as follows (in thousands): June 30, 2023 December 31, 2022 North America $ 2,300 $ 2,469 Asia Pacific (APAC) 102 138 Europe, Middle East and Africa (EMEA) 142 158 Property and equipment, net $ 2,544 $ 2,765

Disaggregated Revenue

Disaggregated Revenue	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregated Revenue	Note 16. Revenue Disaggregated revenues are as fo llows (in thousands): Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 By Market Group: Enterprise $ 7,366 $ 9,120 $ 15,803 $ 17,749 Consumer 6,189 5,981 11,321 12,043 Automotive 2,275 4,185 5,150 7,016 Total sales $ 15,830 $ 19,286 $ 32,274 $ 36,808 By Geography: North America $ 9,438 $ 12,424 $ 19,606 $ 22,903 China (including Hong Kong and Taiwan) 6,059 6,268 12,028 12,727 Rest of the world 333 594 640 1,178 Total sales $ 15,830 $ 19,286 $ 32,274 $ 36,808 Revenue generated from the United States was $ 2.8 million and $ 12.4 million for the three months ended June 30, 2023 and 2022, respectively and $ 9.3 million and $ 22.7 million for the six months ended June 30, 2023 and 2022, respectively. Liability for potential rights of return was approximately $ 1,900 and $ 0.3 million as of June 30, 2023 and December 31, 2022, respectively and is included within accrued liabilities in the accompanying unaudited condensed consolidated balance sheets. The deferred revenues that are recorded as contract liabilities were $ 0.1 million and $ 0.2 million as of June 30, 2023 and December 31, 2022 , respectively.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Event	Note 17. Subsequent Events In August 2023, we applied for employee retention credit (ERC) refunds pursuant to the Coronavirus Aid, Relief and Economic Security Act, totaling $ 2.5 million, net of professional fees. Pending the Internal Revenue Service’s (IRS) review and determination of our eligibility, we anticipate receiving the ERC refunds within the next six months. However, there can be no assurance we will ultimately receive the amounts we currently expect, if any, or the timeframe of any such receipt, based on IRS review or otherwise.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Description of Business	Description of Business Airgain, Inc. was incorporated in the State of California on March 20, 1995; and reincorporated in the State of Delaware on August 17, 2016. Airgain, Inc. together with its subsidiary NimbeLink Corp. are herein refer to as the “Company,” “we,” or “our”. The Company is a leading provider of connectivity solutions including embedded components, external antennas, and integrated systems that enable wireless networking in the consumer, enterprise, and automotive markets. The Company’s headquarters is in San Diego, California.
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, 2022 , from which the balance sheet information herein was derived. The unaudited 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.
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 and Plymouth, Minnesota. The Company operates in one segment related to providing connectivity solutions – embedded components, external antennas, and integrated systems. The Company’s chief operating decision-maker is our 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 period financial statements have been reclassified to conform to the presentation of the current period financial statements.
Trade Accounts Receivable	Trade Accounts Receivable We perform ongoing credit evaluations of our customers and assess each customer’s credit worthiness. The policy for determining when receivables are past due or delinquent is based on the contractual terms agreed upon. We monitor collections and payments from our customers and analyze for an allowance for credit losses. The allowance for credit losses is based upon applying an expected credit loss rate to receivables based on the historical loss rate and is adjusted for current conditions, including any specific customer collection issues identified, and economic conditions forecast. Delinquent account balances are written off after management has determined that the likelihood of collection is remote.
Inventories	Inventories As of April 2022, all 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 some situations, the Company retains ownership of inventory which is held in third-party contract manufacturing facilities. 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 consolidated balance sheets. In the second quarter of 2022, we closed our facility located in Scottsdale, Arizona where certain of our products were previously manufactured. Inventory is stated at the lower of cost or net realizable value. For items manufactured by us, cost is determined using the weighted average cost method. For items manufactured by third parties, cost is determined using the first-in, first-out method (FIFO). Any adjustments to reduce the cost of inventories to their net realizable value are recognized in earnings in the current period. Write downs for excess and obsolete inventories are estimated based on product life cycles, quality issues, and historical experience.
Property and Equipment	Property and Equipment Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, generally three to ten years . The estimated useful lives for leasehold improvements are determined as either the estimated useful life of the asset or the lease term, whichever is shorter. Repairs and maintenance are expensed as incurred. Property and equipment are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. When assets are disposed of (or otherwise sold), the cost and related accumulated depreciation are removed from the accounts and any gain or loss on the disposal of property and equipment is classified as other expense (income) in the Company's consolidated statement of operations.
Goodwill	Goodwill Goodwill represents the excess of cost over fair value of net assets acquired. Goodwill is not amortized but is tested for impairment annually using either a qualitative assessment, and / or quantitative assessment, which is based on comparing the fair value of a reporting unit with its carrying amount. If the carrying amount of a reporting unit exceeds its fair value, a goodwill impairment loss is recorded. We complete a goodwill impairment test as of December 31 each year or more frequently if we believe indicators of impairment exist.
Other Intangible Assets	Other Intangible Assets The Company’s identifiable intangible assets are comprised of acquired intangibles, developed technologies, customer relationships and non-compete agreements. The cost of the market-related intangible assets with finite lives is amortized on a straight-line basis over the assets’ respective estimated useful lives. The Company periodically re-evaluates the original assumptions and estimated lives of long-lived assets and finite-lived intangible assets. Long-lived assets and finite-lived intangibles are assessed annually for impairment or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If an asset is considered to be impaired, the impairment recognized is equal to the amount by which the carrying value of the asset exceeds its fair value.
Revenue Recognition	Revenue Recognition 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 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 transfers to 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 the NimbeLink 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. We only apply the five-step model when it is probable that we will collect substantially all of the consideration that we are entitled in exchange for the goods or services that we transfer 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. Most of the Company’s revenue is recognized on a “point-in-time” basis when control passes to the customer. The revenue from service contracts is recognized either at a "point-in-time" or “over time” based on the terms and conditions in the contract. Revenue from data subscription plans relate to purchased asset trackers with activated data lines, through a third-party service provider. Subscription plans are recognized monthly. Service revenues are earned based on contractual milestones. Prepayments are deferred revenues and are recorded as contract liabilities. We recognize the contract liabilities over service periods ranging from three (3) to eighteen (18) months. The Company offers return rights and/or pricing credits under certain circumstances. We estimate product returns based on historical sales and return trends and record against revenue and corresponding refund liability. The Company's contracts with customers do not typically include extended payment terms. Payment terms may vary by contract and type of customer and generally range from 30 to 90 days from delivery. The Company provides assurance-type warranties on all product sales ranging from one to two years. The estimated warranty costs are accrued for at the time of sale based on historical warranty experience plus any known or expected changes in warranty exposure. 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, Other Assets and Deferred Costs , as the period over which the sales commission asset that would have been recognized is less than one year. There were no contract assets as of June 30, 2023 and December 31, 2022 .
Shipping and Transportation Costs	Shipping and Transportation Costs Shipping and other transportation costs expensed as incurred were $ 0.1 million and $ 0.2 million for the three months ended June 30, 2023 and 2022 , respectively. These costs are included in sales and marketing expenses in the accompanying consolidated statements of operations.
Research and Development Costs	Research and Development Costs Research and development costs are expensed as incurred.
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred. These costs are included in sales and marketing expenses in the accompanying consolidated statements of operations.
Stock-Based Compensation	Stock-Based Compensation We recognize compensation costs related to stock options and restricted stock units granted to employees and directors based on the estimated fair value of the awards on the date of grant. We estimate the option grant fair values, and the resulting stock-based compensation expense, using the Black-Scholes option-pricing model. The grant date fair value of stock-based awards are expensed on a straight-line basis over the requisite service period of the entire reward. The Company recognizes forfeitures when incurred.
Fair Value Measurements	Fair Value Measurements The carrying values of the Company’s financial instruments, including cash, trade accounts receivable, accounts payable, accrued liabilities and deferred purchase price obligations 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.
Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (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. The Company adopted this standard in the first quarter of fiscal 2023; it did not have a material impact on our financial statements. Recently Issued Accounting Pronouncements There are no recent accounting pronouncements issued by the FASB that the Company expects would have a material impact on the Company's financial statements.

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Summary of Computation of Net Loss Per Share	The following table presents the computation of net loss per shar e (in thousands except per share data): Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Numerator: Net loss $ ( 2,205 ) $ ( 1,619 ) $ ( 5,063 ) $ ( 4,140 ) Denominator: Basic weighted average common shares outstanding 10,413 10,219 10,340 10,188 Plus dilutive effect of potential common shares — — — — Diluted weighted average common shares outstanding 10,413 10,219 10,340 10,188 Net loss per share: Basic $ ( 0.21 ) $ ( 0.16 ) $ ( 0.49 ) $ ( 0.41 ) Diluted $ ( 0.21 ) $ ( 0.16 ) $ ( 0.49 ) $ ( 0.41 )
Summary of Potentially Dilutive Securities	Potentially dilutive securities (in common stock equivalent shares) not included in the calculation of diluted net loss per share because to do so would be anti-dilutive are as follow s (in thousands): Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Stock options, restricted stock and performance stock 2,413 2,122 2,369 2,032 Common stock equivalent shares 2,413 2,122 2,369 2,032

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	6 Months Ended
	Jun. 30, 2023
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 (in thousands): June 30, 2023 Amortized Estimated fair value Cash and cash equivalents Cash $ 9,249 $ 9,249 $ 9,249 Level 1: Money market funds 21 $ 21 $ 21 Total $ 9,270 $ 9,270 $ 9,270 December 31, 2022 Amortized Estimated fair value Cash and cash equivalents Cash $ 8,323 $ 8,323 $ 8,323 Level 1: Money market funds 3,580 3,580 3,580 Total $ 11,903 $ 11,903 $ 11,903 Restricted Cash As of June 30, 2023 and December 31, 2022, the Company had $ 175,000 in cash on deposit to secure certain lease commitments; $ 80,000 of which is short-term in nature and recorded in prepaid expenses and other current assets and $ 95,000 of which is restricted for more than twelve months and recorded in other assets in the Company’s consolidated balance sheet.

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory And Consigned Inventories, Current	Inventories are comprised of the following (in thousands): June 30, 2023 December 31, 2022 Raw materials $ 921 $ 1,060 Finished goods 3,876 3,166 Total Inventory $ 4,797 $ 4,226 Consigned inventories, which are included in total inventories, are comprised of the following (in thousands): June 30, 2023 December 31, 2022 Raw materials $ 470 $ 631 Finished goods 2,505 2,272 Total Consigned Inventory $ 2,975 $ 2,903

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consist of the follo wing (in thousands): June 30, 2023 December 31, 2022 Manufacturing and testing equipment $ 5,461 $ 5,194 Leasehold improvements 848 848 Computers and software 502 703 Furniture, fixtures, and equipment 427 409 Construction in process 37 16 Property and equipment, gross 7,275 7,170 Less accumulated depreciation ( 4,731 ) ( 4,405 ) Property and equipment, net $ 2,544 $ 2,765

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Summary of Acquired Intangible Assets	The following is a summary of the Company’s acquired other intangible assets (dollars in thousands): June 30, 2023 Weighted average amortization period (in years) Gross carrying amount Accumulated amortization Net carrying amount Market related intangibles 5 $ 1,820 $ 965 $ 855 Customer relationships 7 13,780 7,857 $ 5,923 Developed technologies 11 4,380 1,440 $ 2,940 Covenants to non-compete 2 115 115 $ — Total intangible assets, net $ 20,095 $ 10,377 $ 9,718 December 31, 2022 Weighted average amortization period (in years) Gross carrying amount Accumulated amortization Net carrying amount Market related intangibles 5 $ 1,820 $ 795 $ 1,025 Customer relationships 7 13,780 6,720 7,060 Developed technologies 11 4,380 1,263 3,117 Covenants to non-compete 2 115 114 1 Total intangible assets, net $ 20,095 $ 8,892 $ 11,203
Schedule of Estimated Annual Amortization of Intangible Assets	Estimated annual amortization of intangible assets for the next five years and thereafter is shown in the foll owing table (in thousands): Estimated future amortization 2023 (remaining six months) $ 1,484 2024 2,968 2025 2,958 2026 557 2027 356 Thereafter 1,395 Total $ 9,718

Accrued Liabilities and Other (

Accrued Liabilities and Other (Tables)	6 Months Ended
	Jun. 30, 2023
Accrued Liabilities and Other Liabilities [Abstract]
Summary of Accrued Liabilities and Other	Accrued liabilities and other is comprised of the follo wing (in thousands): June 30, 2023 December 31, 2022 Accrued expenses $ 1,003 $ 815 VAT payable 339 339 Accrued income taxes 197 166 Advanced payments from contract manufacturers 148 210 Contract liabilities — 32 Goods received not invoiced 1,702 529 Other current liabilities 138 524 Accrued liabilities and other $ 3,527 $ 2,615

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 (in thousands): Estimated future lease obligation 2023 (remaining six months) $ 498 2024 902 2025 687 Total minimum payments 2,087 Less imputed interest ( 88 ) Less unrealized translation gain 2 Total lease liabilities 2,001 Less short-term lease liabilities ( 921 ) Long-term lease liability $ 1,080

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2023
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): June 30, 2023 December 31, 2022 Stock options issued and outstanding 2,129 2,065 Stock awards issued and outstanding 766 581 Authorized for grants under the 2016 Equity Incentive Plan (2) 354 507 Authorized for grants under the Inducement Plan (3) 324 294 Authorized for grants under the 2016 Employee Stock Purchase Plan (4) 457 378 4,030 3,825 (1) The table above excludes 541,000 treasury stock shares as of June 30, 2023 and December 31, 2022 . (2) On January 1, 2023, the number of authorized shares in the 2016 Plan increased by 431,000 shares pursuant to the evergreen provisions of the 2016 Plan. (3) On February 5, 2021, 300,000 shares were authorized pursuant to the terms of the Inducement Plan. (4) On January 1, 2023, the number of authorized shares in the 2016 Employee Stock Purchase Plan increased by 100,000 sh ares pursuant to the evergreen provisions of the 2016 Employee Stock Purchase Plan.

Stock Based Compensation (Table

Stock Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Based Compensation Expenses	Stock-based compensation is recorded in the consolidated statements of operations as fol lows (in thousands): Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Cost of goods sold $ 29 $ 22 $ 44 $ 26 Research and development 280 278 517 554 Sales and marketing 115 296 276 583 General and administrative 544 618 1,112 1,292 Total stock-based compensation expense $ 968 $ 1,214 $ 1,949 $ 2,455
Summary of Outstanding Stock Option Activity	The following table summarizes the outstanding stock option activity during the period indi cated (shares in thousands): Weighted average Number of Exercise Remaining contractual term (in years) Aggregate Intrinsic Value (in thousands) Balance at December 31, 2022 2,065 $ 11.78 6.7 $ 758 Granted 267 $ 5.71 Exercised ( 12 ) $ 2.30 $ 40 Expired/Forfeited ( 191 ) $ 13.08 Balance at June 30, 2023 2,129 $ 10.95 6.4 $ 608 Vested and exercisable at June 30, 2023 1,491 $ 11.45 5.3 $ 541 Vested and expected to vest at June 30, 2023 2,129 $ 10.95 6.4 $ 608
Summary of Outstanding Restricted Stock Unit Activity	The following table summarizes the Company's restricted stock unit (RSU) activity during the period indi cated (shares in thousands): Restricted Weighted average grant date fair value Balance at December 31, 2022 444 $ 11.78 Grants 583 $ 5.27 Vested and released ( 284 ) $ 8.06 Forfeited ( 91 ) $ 9.40 Balance at June 30, 2023 652 $ 7.91
Schedule of Performance Stock Unit	The following table summarizes the Company's performance stock unit (PSU) activity during the period indi cated (shares in thousands): Performance Weighted average grant date fair value Balance at December 31, 2022 137 $ 2.09 Grants — $ — Vested and released — $ — Forfeited ( 23 ) $ 2.20 Balance at June 30, 2023 114 $ 2.07

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of liability recorded related to severance and exit costs	The following table presents details of the liability we recorded related to severance and exit costs: Severance and Exit Costs (In thousands) Balance at December 31, 2022 $ — Accrued to expense 205 Payments ( 92 ) Balance at March 31, 2023 $ 113 Accrued to expense 365 Payments ( 71 ) Balance at June 30, 2023 $ 407

Concentration of Credit Risk (T

Concentration of Credit Risk (Tables)	6 Months Ended
	Jun. 30, 2023
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: Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 Customer A 24 % 14 % 19 % 14 % Customer B 14 % 8 % 13 % 8 % Customer C 9 % 22 % 12 % 19 % Customer D 9 % 14 % 10 % 15 % Customer E 6 % 28 % 7 % 28 % The following represents customers that accounted for 10 % or more of total trade accounts receivable: June 30, 2023 December 31, 2022 Customer A 21 % 21 % Customer B 11 % 8 % Customer C 7 % 12 % Customer D 5 % 15 % The allowance for credit losses as of June 30, 2023 and December 31, 2022 was not material.
Summary of Long Lived Assets By Geographical Region	The Company’s property and equipment, net by geographic region, are as follows (in thousands): June 30, 2023 December 31, 2022 North America $ 2,300 $ 2,469 Asia Pacific (APAC) 102 138 Europe, Middle East and Africa (EMEA) 142 158 Property and equipment, net $ 2,544 $ 2,765

Disaggregated Revenue (Tables)

Disaggregated Revenue (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Summary of Disaggregated Revenue	Disaggregated revenues are as fo llows (in thousands): Three months ended June 30, Six months ended June 30, 2023 2022 2023 2022 By Market Group: Enterprise $ 7,366 $ 9,120 $ 15,803 $ 17,749 Consumer 6,189 5,981 11,321 12,043 Automotive 2,275 4,185 5,150 7,016 Total sales $ 15,830 $ 19,286 $ 32,274 $ 36,808 By Geography: North America $ 9,438 $ 12,424 $ 19,606 $ 22,903 China (including Hong Kong and Taiwan) 6,059 6,268 12,028 12,727 Rest of the world 333 594 640 1,178 Total sales $ 15,830 $ 19,286 $ 32,274 $ 36,808

Description of Business and B_2

Description of Business and Basis of Presentation - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023 Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	1

Significant Accounting Policies

Significant Accounting Policies - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) Days	Dec. 31, 2022 USD ($)
Significant Accounting Policies [Line Items]
Contract asset | $	$ 0		$ 0	$ 0
Shipping and other transportation costs | $	$ 100	$ 200
Minimum [Member]
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful life	3 years		3 years
Deferred revenue recognition period			3 months
Revenue recognition, payment terms | Days			30
Maximum [Member]
Significant Accounting Policies [Line Items]
Property and equipment, estimated useful life	10 years		10 years
Deferred revenue recognition period			18 months
Revenue recognition, payment terms | Days			90

Net Loss Per Share - Summary of

Net Loss Per Share - Summary of Computation of Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net loss	$ (2,205)	$ (1,619)	$ (5,063)	$ (4,140)
Basic weighted average common shares outstanding	10,413	10,219	10,340	10,188
Plus dilutive effect of potential common shares	0	0	0	0
Diluted weighted average common shares outstanding	10,413	10,219	10,340	10,188
Basic	$ (0.21)	$ (0.16)	$ (0.49)	$ (0.41)
Diluted	$ (0.21)	$ (0.16)	$ (0.49)	$ (0.41)

Net Loss Per Share - Summary _2

Net Loss Per Share - Summary of Potentially Dilutive Securities (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common stock equivalent shares	2,413	2,122	2,369	2,032
Stock Options, Restricted Stock and Performance Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Common stock equivalent shares	2,413	2,122	2,369	2,032

Cash and Cash Equivalents - Sch

Cash and Cash Equivalents - Schedule of Cash and Cash Equivalents by Significant Investment Category (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Cash And Cash Equivalents And Short Term Investments [Line Items]
Cash	$ 9,249	$ 8,323
Cash and cash equivalents and Short term investments, Amortized cost	9,270	11,903
Money Market Funds | Level 1
Cash And Cash Equivalents And Short Term Investments [Line Items]
Cash equivalents	$ 21	$ 3,580

Cash and Cash Equivalents (Addi

Cash and Cash Equivalents (Additional Information) (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Restricted cash	$ 175,000	$ 175,000
Restricted cash - short term	80,000	80,000
Restricted cash - long term	$ 95,000	$ 95,000

Inventory- Schedule of Inventor

Inventory- Schedule of Inventory And Consigned Inventories, Current (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventories
Total Inventory	$ 4,797	$ 4,226
Inventories [Member]
Inventories
Raw materials	921	1,060
Finished good	3,876	3,166
Total Inventory	4,797	4,226
Consigned inventories [Member]
Inventories
Raw materials	470	631
Finished good	2,505	2,272
Total Inventory	$ 2,975	$ 2,903

Inventory (Additional Informati

Inventory (Additional Information) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Inventory [Line Items]
Excess and obsolete inventory reserves	$ 1	$ 0.9

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Property Plant And Equipment [Line Items]
Depreciation expense	$ 200	$ 200	$ 342	$ 337
Minimum
Property Plant And Equipment [Line Items]
Property and equipment, estimated useful life	3 years		3 years
Maximum
Property Plant And Equipment [Line Items]
Property and equipment, estimated useful life	10 years		10 years
Other Property and Equipment | Minimum
Property Plant And Equipment [Line Items]
Property and equipment, estimated useful life	3 years		3 years
Other Property and Equipment | Maximum
Property Plant And Equipment [Line Items]
Property and equipment, estimated useful life	10 years		10 years

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 7,275	$ 7,170
Less accumulated depreciation	(4,731)	(4,405)
Property and equipment, net	2,544	2,765
Manufacturing and Testing Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	5,461	5,194
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	848	848
Computers and Software
Property Plant And Equipment [Line Items]
Property and equipment, gross	502	703
Furniture, Fixtures, and Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	427	409
Construction in Process
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 37	$ 16

Intangible Assets - Summary of

Intangible Assets - Summary of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 20,095	$ 20,095
Accumulated amortization	10,377	8,892
Total	$ 9,718	$ 11,203
Market related intangibles
Acquired Finite Lived Intangible Assets [Line Items]
Weighted average amortization period (in years)	5 years	5 years
Gross carrying amount	$ 1,820	$ 1,820
Accumulated amortization	965	795
Total	$ 855	$ 1,025
Customer relationships
Acquired Finite Lived Intangible Assets [Line Items]
Weighted average amortization period (in years)	7 years	7 years
Gross carrying amount	$ 13,780	$ 13,780
Accumulated amortization	7,857	6,720
Total	$ 5,923	$ 7,060
Developed technologies
Acquired Finite Lived Intangible Assets [Line Items]
Weighted average amortization period (in years)	11 years	11 years
Gross carrying amount	$ 4,380	$ 4,380
Accumulated amortization	1,440	1,263
Total	$ 2,940	$ 3,117
Covenants to non-compete
Acquired Finite Lived Intangible Assets [Line Items]
Weighted average amortization period (in years)	2 years	2 years
Gross carrying amount	$ 115	$ 115
Accumulated amortization	115	114
Total	$ 0	$ 1

Intangible Assets - Schedule of

Intangible Assets - Schedule of Estimated Annual Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]
2023 (remaining nine months)	$ 1,484
2024	2,968
2025	2,958
2026	557
2027	356
Thereafter	1,395
Total	$ 9,718	$ 11,203

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization	$ 700,000	$ 800,000	$ 1,485,000	$ 1,513,000
Goodwill impairment losses			$ 0	$ 0
Impairment of intangible assets	$ 0	$ 0

Accrued Liabilities and Other -

Accrued Liabilities and Other - Summary of Accrued Liabilities and Other (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accrued Liabilities and Other Liabilities [Abstract]
Accrued expenses	$ 1,003	$ 815
VAT payable	339	339
Accrued income taxes	197	166
Advanced payments from contract manufacturer	148	210
Contract liabilities	0	32
Goods Received Not Invoiced	1,702	529
Other current liabilities	138	524
Accrued liabilities and other	$ 3,527	$ 2,615

Leases - Additional Information

Leases - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Lease Expiration Date			Dec. 31, 2025
Operating lease option to extend			5 years
Operating lease weighted average discount rate percent	3.90%		3.90%		3.90%
Operating lease weighted average remaining lease term	2 years 2 months 12 days		2 years 2 months 12 days		2 years 8 months 12 days
Operating lease cost	$ 200,000	$ 200,000	$ 500,000	$ 500,000
Short-term leases expense	$ 27,000	$ 42,000
Maximum [Member]
Operating lease term of contract	5 years		5 years
Minimum [Member]
Operating lease term of contract	1 year		1 year

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments on Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Leases [Abstract]
2023 (remaining six months)	$ 498
2024	902
2025	687
Total minimum payments	2,087
Less imputed interest	(88)
Less unrealized translation gain	2
Total lease liabilities	2,001
Less short-term lease liabilities	(921)	$ (904)
Long-term lease liability	$ 1,080	$ 1,536

Treasury Stock - Additional Inf

Treasury Stock - Additional Information (Details) - Common Stock - Share Repurchase Program September 9, 2019 - USD ($) shares in Thousands, $ in Millions	6 Months Ended
	Jun. 30, 2023	Sep. 30, 2019
Equity Class Of Treasury Stock [Line Items]
Stock repurchase, shares	541,000
Stock repurchase, cost	$ 5.4
Maximum
Equity Class Of Treasury Stock [Line Items]
Stock approved for repurchase, value		$ 7

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	(1.60%)	(2.00%)
U.S. federal statutory tax rate	21%	21%
Net deferred tax assets			$ 11.9

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Common Stock Reserved for Future Issuance (Details) - shares shares in Thousands		Jun. 30, 2023	Dec. 31, 2022
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[1]	4,030	3,825
Stock awards issued and outstanding
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[1]	766	581
Stock options issued and outstanding
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[1]	2,129	2,065
Authorized for grants under the 2016 Equity Incentive Plan
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[1],[2]	354	507
Authorized for grants under the 2016 Employee Stock Purchase Plan
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[1],[3]	457	378
Authorized for Grants under the Inducement Plan
Class Of Stock [Line Items]
Common stock, reserved for future issuance	[1],[4]	324	294
[1] The table above excludes 541,000 treasury stock shares as of June 30, 2023 and December 31, 2022 . On January 1, 2023, the number of authorized shares in the 2016 Plan increased by 431,000 shares pursuant to the evergreen provisions of the 2016 Plan. On January 1, 2023, the number of authorized shares in the 2016 Employee Stock Purchase Plan increased by 100,000 sh ares pursuant to the evergreen provisions of the 2016 Employee Stock Purchase Plan. On February 5, 2021, 300,000 shares were authorized pursuant to the terms of the Inducement Plan.

Stockholders' Equity- Schedule

Stockholders' Equity- Schedule of Common Stock Reserved for Future Issuance (Parenthetical) (Details) - shares	Jan. 01, 2023	Jun. 30, 2023	Dec. 31, 2022	Feb. 05, 2021
Class Of Stock [Line Items]
Treasury stock, shares at cost		541,000	541,000
2016 Equity Incentive Plan
Class Of Stock [Line Items]
Number of authorized shares increased	431,000
2016 Employee Stock Purchase Plan
Class Of Stock [Line Items]
Number of authorized shares increased	100,000
2021 Inducement Plan
Class Of Stock [Line Items]
Number of authorized shares				300,000

Stock Based Compensation - Sche

Stock Based Compensation - Schedule Of Stock Based Compensation Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 968	$ 1,214	$ 1,949	$ 2,455
Cost of goods sold
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, expense	29	22	44	26
Research and development
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, expense	280	278	517	554
Sales and marketing
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, expense	115	296	276	583
General and administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 544	$ 618	$ 1,112	$ 1,292

Stock Based Compensation - Summ

Stock Based Compensation - Summary of Outstanding Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Number of stock options, Beginning balance	2,065
Number of stock options, Granted	267
Number of stock options, Exercised	(12)
Number of stock options, Expired/Forfeited	(191)
Number of stock options, Ending balance	2,129	2,065
Number of stock options, Vested and exercisable	1,491
Number of stock options, Vested and expected to vest	2,129
Weighted average exercise price, Beginning balance	$ 11.78
Weighted average exercise price, Granted	5.71
Weighted average exercise price, Exercised	2.3
Weighted average exercise price, Expired/Forfeited	13.08
Weighted average exercise price, Ending balance	10.95	$ 11.78
Weighted average exercise price, Vested and exercisable	11.45
Weighted average exercise price, Vested and expected to vest	$ 10.95
Weighted average remaining contractual term (in years)	6 years 4 months 24 days	6 years 8 months 12 days
Intrinsic value of stock options exercised	$ 40
Aggregate Intrinsic Value, Ending Balance	608	$ 758
Aggregate Intrinsic Value, Beginning Balance	$ 758
Weighted average remaining contractual term (in years), Vested and exercisable	5 years 3 months 18 days
Weighted average remaining contractual term (in years), Vested and expected to vest	6 years 4 months 24 days
Aggregate intrinsic value vested and exercisable	$ 541
Stock options expected to vest aggregate intrinsic value	$ 608

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options vested and expected to vest aggregate intrinsic value	$ 608
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%
Percentage of discount and fair value of option	15%
Proceeds from stock issued during period	$ 100
Number of stock issued during period | shares	21,300
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%
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant-date fair value of options granted | $ / shares	$ 2.92
Stock options vested and expected to vest aggregate intrinsic value	$ 600
Total unrecognized compensation cost, period for recognition	2 years 7 months 6 days
Total unrecognized compensation cost	$ 2,800
Restricted Stock Unit (RSU)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average remaining contractual term	3 years 1 month 6 days
Total unrecognized compensation cost	$ 4,300
Performance stock unit (PSU)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average remaining contractual term	1 year 9 months 18 days
Total unrecognized compensation cost	$ 100
Description of performance stock unit	Service as well as market and performance conditions determine the number of PSUs that the holder will earn from 0% to 150% of the target number of shares. The percentage received is based on the Company common stock price targets over a three-year service period. Additionally, the Company must achieve or exceed 75% of the year to date revenue target measured at the end of the quarter in which the price target is achieved.
Share-Settled Obligation
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Debt conversion converted amount	$ 900
Shares granted upon settlement of debt	$ 187,200

Stock Based Compensation - Su_2

Stock Based Compensation - Summary of Outstanding Restricted Stock Unit Activity (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Restricted Stock Unit (RSU)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock units, Beginning balance | shares	444
Restricted stock units, Grants | shares	583
Restricted stock units, Vested and released | shares	(284)
Restricted stock units, Forfeited | shares	(91)
Restricted stock units, Ending balance | shares	652
Weighted average grant date fair value, Beginning balance | $ / shares	$ 11.78
Weighted average grant date fair value, Grants | $ / shares	5.27
Weighted average grant date fair value, Vested and released | $ / shares	8.06
Weighted average grant date fair value, Forfeited | $ / shares	9.4
Weighted average grant date fair value, Ending balance | $ / shares	$ 7.91
Performance stock unit (PSU)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock units, Beginning balance | shares	137
Restricted stock units, Grants | shares	0
Restricted stock units, Vested and released | shares	0
Restricted stock units, Forfeited | shares	(23)
Restricted stock units, Ending balance | shares	114
Weighted average grant date fair value, Beginning balance | $ / shares	$ 2.09
Weighted average grant date fair value, Grants | $ / shares	0
Weighted average grant date fair value, Vested and released | $ / shares	0
Weighted average grant date fair value, Forfeited | $ / shares	2.2
Weighted average grant date fair value, Ending balance | $ / shares	$ 2.07

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Commitment And Contingencies [Line Items]
Warranty accrual expense	$ 0.1	$ 0.2

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of liability recorded related to severance and exit costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2023	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Opening Balance	$ 113	$ 0
Accrued to expense	365	205
Payments	(71)	(92)
Closing Balance	$ 407	$ 113

Concentration of Credit Risk -

Concentration of Credit Risk - Additional Information (Details) - Customer Concentration Risk - Major Customers	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Net Revenue
Concentration Risk [Line Items]
Concentration risk percentage	10%	10%
Trade Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage			10%

Concentration of Credit Risk _2

Concentration of Credit Risk - Schedule of Concentration of Sales and Accounts Receivable (Details) - Customer Concentration Risk	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Net Revenue | Customer A
Concentration Risk [Line Items]
Concentration risk percentage	24%	14%	19%	14%
Net Revenue | Customer B
Concentration Risk [Line Items]
Concentration risk percentage	14%	8%	13%	8%
Net Revenue | Customer C
Concentration Risk [Line Items]
Concentration risk percentage	9%	22%	12%	19%
Net Revenue | Customer D
Concentration Risk [Line Items]
Concentration risk percentage	9%	14%	10%	15%
Net Revenue | Customer E
Concentration Risk [Line Items]
Concentration risk percentage	6%	28%	7%	28%
Trade Accounts Receivable | Customer A
Concentration Risk [Line Items]
Concentration risk percentage			21%		21%
Trade Accounts Receivable | Customer B
Concentration Risk [Line Items]
Concentration risk percentage			11%		8%
Trade Accounts Receivable | Customer C
Concentration Risk [Line Items]
Concentration risk percentage			7%		12%
Trade Accounts Receivable | Customer D
Concentration Risk [Line Items]
Concentration risk percentage			5%		15%

Concentration of Credit Risk _3

Concentration of Credit Risk - Schedule of Concentration of Fixed Assets by Geographical Regions (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	$ 2,544	$ 2,765
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	2,300	2,469
Asia Pacific (APAC)
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	102	138
Europe, Middle East and Africa (EMEA)
Revenues from External Customers and Long-Lived Assets [Line Items]
Property and equipment, net	$ 142	$ 158

Disaggregated Revenue - Summary

Disaggregated Revenue - Summary of Disaggregated Revenue By Sales Channel (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	$ 15,830	$ 19,286	$ 32,274	$ 36,808

Disaggregated Revenue - Summa_2

Disaggregated Revenue - Summary of Disaggregated Revenue By Market Group (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation Of Revenue [Line Items]
Sales	$ 15,830	$ 19,286	$ 32,274	$ 36,808
Enterprise
Disaggregation Of Revenue [Line Items]
Sales	7,366	9,120	15,803	17,749
Consumer
Disaggregation Of Revenue [Line Items]
Sales	6,189	5,981	11,321	12,043
Automotive
Disaggregation Of Revenue [Line Items]
Sales	$ 2,275	$ 4,185	$ 5,150	$ 7,016

Disaggregated Revenue - Summa_3

Disaggregated Revenue - Summary of Disaggregated Revenue By Geography (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	$ 15,830	$ 19,286	$ 32,274	$ 36,808
North America
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	9,438	12,424	19,606	22,903
China
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	6,059	6,268	12,028	12,727
Rest of the world
Disaggregation Of Revenue [Line Items]
Disaggregated revenues	$ 333	$ 594	$ 640	$ 1,178

Disaggregated Revenues - Additi

Disaggregated Revenues - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 15,830	$ 19,286	$ 32,274	$ 36,808
United States
Disaggregation Of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,800	$ 12,400	9,300	$ 22,700
Contract with Customer, Right to Recover Product	2		2		$ 300
Contract with Customer, Liability, Current	$ 100		$ 100		$ 200

Subsequent Events (Additional I

Subsequent Events (Additional Information) (Details) $ in Millions	1 Months Ended
	Aug. 31, 2023 USD ($)
Subsequent Event [Member]
Subsequent Event [Line Items]
Employee retention credit refunds	$ 2.5