MicroVision (MVIS) 10-Q 7 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 02, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	001-34170
Entity Registrant Name	MicroVision, Inc.
Entity Central Index Key	0000065770
Entity Tax Identification Number	91-1600822
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	18390 NE 68th Street
Entity Address, City or Town	Redmond
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98052
City Area Code	(425)
Local Phone Number	936-6847
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	MVIS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		212,750,648

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) $ in Thousands, € in Millions	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Current assets
Cash and cash equivalents	$ 26,748	$ 45,167
Investment securities, available-for-sale	29,934	28,611
Restricted cash, current	73	3,263
Accounts receivable, net of allowances	1,970	949
Inventory	4,203	3,874
Other current assets	3,646	4,890
Total current assets	66,574	86,754
Property and equipment, net	8,131	9,032
Operating lease right-of-use assets	12,348	13,758
Restricted cash, net of current portion	1,961	961
Intangible assets, net	13,081	17,235
Other assets	1,321	1,895
Total assets	103,416	129,635
Current liabilities
Accounts payable	1,448	2,271
Accrued liabilities	8,894	8,640
Accrued liability for Ibeo business combination		6,300
Contract liabilities	172	300
Operating lease liabilities, current	2,113	2,323
Other current liabilities	24	669
Total current liabilities	12,651	20,503
Operating lease liabilities, net of current portion	11,936	12,714
Other long-term liabilities	120	614
Total liabilities	24,707	33,831
Commitments and contingencies
Shareholders’ equity
Preferred stock, par value $0.001; 25,000 shares authorized; zero and zero shares issued and outstanding as of June 30, 2024 and December 31, 2023
Common stock, par value $0.001; 310,000 shares authorized; 211,961 and 194,736 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively	212	195
Additional paid-in capital	894,005	860,765
Accumulated other comprehensive income	101	210
Accumulated deficit	(815,609)	(765,366)
Total shareholders’ equity	78,709	95,804
Total liabilities and shareholders’ equity	$ 103,416	$ 129,635

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares shares in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000	25,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	310,000	310,000
Common stock, shares issued	211,961	194,736
Common stock, shares outstanding	211,961	194,736

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue	$ 1,900	$ 329	$ 2,856	$ 1,111
Cost of revenue	1,554	701	2,831	1,245
Gross profit (loss)	346	(372)	25	(134)
Research and development expense	14,204	13,851	31,515	26,543
Sales, marketing, general and administrative expense	7,746	9,692	16,824	18,429
Impairment loss on intangible assets	3,027		3,027
Gain on disposal of fixed assets		(15)		(15)
Total operating expenses	24,977	23,528	51,366	44,957
Loss from operations	(24,631)	(23,900)	(51,341)	(45,091)
Bargain purchase gain, net of tax				1,706
Other income	785	3,570	1,416	4,209
Net loss before taxes	(23,846)	(20,330)	(49,925)	(39,176)
Income tax expense	(84)	(279)	(318)	(460)
Net loss	$ (23,930)	$ (20,609)	$ (50,243)	$ (39,636)
Net loss per share, basic	$ (0.11)	$ (0.12)	$ (0.25)	$ (0.23)
Net loss per share, diluted	$ (0.11)	$ (0.12)	$ (0.25)	$ (0.23)
Weighted-average shares outstanding - basic	208,665	177,302	202,706	176,009
Weighted-average shares outstanding - diluted	208,665	177,302	202,706	176,009

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net loss	$ (23,930)	$ (20,609)	$ (50,243)	$ (39,636)
Other comprehensive loss:
Unrealized (loss) gain on investment securities, available-for-sale	(11)	18	(45)	95
Unrealized (loss) gain on translation	(45)	(83)	(64)	24
Total comprehensive (loss) income	(56)	(65)	(109)	119
Comprehensive loss	$ (23,986)	$ (20,674)	$ (50,352)	$ (39,517)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Receivables from Stockholder [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2022	$ 171	$ 772,221		$ (127)	$ (682,524)	$ 89,741
Balance, shares at Dec. 31, 2022	170,503
Balance at Mar. 31, 2023	$ 176	787,856		57	(701,551)	86,538
Balance, shares at Mar. 31, 2023	176,026
Balance at Dec. 31, 2022	$ 171	772,221		(127)	(682,524)	89,741
Balance, shares at Dec. 31, 2022	170,503
Share-based compensation expense	$ 1	6,426				6,427
Share-based compensation expense, shares	999
Exercise of options		168				168
Exercise of options, shares	180
Sales of common stock, net	$ 16	56,595	(925)			55,686
Sales of common stock, net, shares	15,938
Net loss					(39,636)	(39,636)
Other comprehensive income (loss)				119		119
Balance at Jun. 30, 2023	$ 188	835,410	(925)	(8)	(722,160)	112,505
Balance, shares at Jun. 30, 2023	187,620
Balance at Mar. 31, 2023	$ 176	787,856		57	(701,551)	86,538
Balance, shares at Mar. 31, 2023	176,026
Share-based compensation expense	$ 1	3,477				3,478
Share-based compensation expense, shares	536
Exercise of options		168				168
Exercise of options, shares	180
Sales of common stock, net	$ 11	43,909	(925)			42,995
Sales of common stock, net, shares	10,878
Net loss					(20,609)	(20,609)
Other comprehensive income (loss)				(65)		(65)
Balance at Jun. 30, 2023	$ 188	835,410	(925)	(8)	(722,160)	112,505
Balance, shares at Jun. 30, 2023	187,620
Balance at Dec. 31, 2023	$ 195	860,765		210	(765,366)	95,804
Balance, shares at Dec. 31, 2023	194,736
Share-based compensation expense	$ 2	7,094				7,096
Share-based compensation expense, shares	2,164
Exercise of options		62				62
Exercise of options, shares	84
Sales of common stock, net	$ 15	26,084				26,099
Sales of common stock, net, shares	14,977
Net loss					(50,243)	(50,243)
Other comprehensive income (loss)				(109)		(109)
Balance at Jun. 30, 2024	$ 212	894,005		101	(815,609)	78,709
Balance, shares at Jun. 30, 2024	211,961
Balance at Mar. 31, 2024	$ 206	885,119		157	(791,679)	93,803
Balance, shares at Mar. 31, 2024	205,874
Share-based compensation expense	$ 1	3,352				3,353
Share-based compensation expense, shares	1,536
Sales of common stock, net	$ 5	5,534				5,539
Sales of common stock, net, shares	4,551
Net loss					(23,930)	(23,930)
Other comprehensive income (loss)				(56)		(56)
Balance at Jun. 30, 2024	$ 212	$ 894,005		$ 101	$ (815,609)	$ 78,709
Balance, shares at Jun. 30, 2024	211,961

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Net loss	$ (50,243)	$ (39,636)
Adjustments to reconcile net loss to net cash used in operations:
Depreciation and amortization	3,570	4,151
Bargain purchase gain, net of tax		(1,706)
Gain on disposal of fixed assets		(15)
Impairment of intangible assets	3,027
Impairment of operating lease right-of-use assets	393
Impairment of property and equipment		12
Inventory write-downs	48	56
Share-based compensation expense	7,096	6,815
Net accretion of premium on short-term investments	(535)	(695)
Change in:
Accounts receivable	(1,021)	(821)
Inventory	(410)	69
Other current and non-current assets	1,818	(31)
Accounts payable	(850)	246
Accrued liabilities	254	4,138
Contract liabilities and other current liabilities	(765)	(1,692)
Operating lease liabilities	(1,299)	(1,096)
Other long-term liabilities	(476)	81
Net cash used in operating activities	(39,393)	(30,124)
Cash flows from investing activities
Sales of investment securities	22,655	48,700
Purchases of investment securities	(23,488)	(17,302)
Cash paid for Ibeo business combination	(6,300)	(11,233)
Purchases of property and equipment	(280)	(1,484)
Net cash (used in) provided by investing activities	(7,413)	18,681
Cash flows from financing activities
Principal payments under finance leases		(13)
Proceeds from stock option exercises	62	168
Net proceeds from issuance of common stock	26,109	55,866
Net cash provided by financing activities	26,171	56,021
Effect of exchange rate changes on cash and cash equivalents and restricted cash	26
Change in cash, cash equivalents, and restricted cash	(20,609)	44,578
Cash, cash equivalents, and restricted cash at beginning of period	49,391	21,954
Cash, cash equivalents, and restricted cash at end of period	28,782	66,532
Supplemental schedule of non-cash investing and financing activities
Non-cash additions to property and equipment		167
Amounts issued to escrow for acquisition consideration		3,263
Accrued financing fees	10	180
Issuance of common stock for subscriptions receivable		925
Foreign currency translation adjustments	(64)	24
Unrealized (loss) gain on investment securities, available-for-sale	$ (45)	$ 95

Reconciliation of Cash Suppleme

Reconciliation of Cash Supplement - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Statement of Financial Position [Abstract]
Cash and cash equivalents	$ 26,748	$ 62,308
Restricted cash, current	73	3,263
Restricted cash, net of current portion	1,961	961
Cash, cash equivalents and restricted cash	$ 28,782	$ 66,532

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ (23,930)	$ (20,609)	$ (50,243)	$ (39,636)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS	1. DESCRIPTION OF BUSINESS MicroVision, Inc. (“MicroVision” or “the Company”) delivers safe mobility at the speed of life through its hardware and software solutions focused primarily on advanced driver-assistance systems (“ADAS”) and autonomous vehicle (“AV”) applications. The Company is a global developer and supplier of light detection and ranging (“lidar”) sensors and perception and validation software. With the acquisition of the experienced team from Ibeo Automative Systems GmbH (“Ibeo”) in January 2023, MicroVision has combined a long history of developing and commercializing the core components of its lidar hardware and related software with experience in automotive-grade qualification. Liquidity The Company has incurred significant losses since inception. Operations to date have been funded primarily through the sale of common stock, convertible preferred stock, warrants, the issuance of convertible debt and, to a lesser extent, from development contract revenues, product sales, and licensing activities. As of June 30, 2024, the Company had total liquidity of $ 56.7 26.8 29.9 122.6

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The unaudited condensed consolidated financial statements and accompanying notes include the accounts of the Company and its wholly owned subsidiaries, after elimination of all intercompany balances and transactions. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and the requirements of the U.S. Securities and Exchange Commission (the “SEC”) for interim financial information. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2023. The information as of December 31, 2023 included in the condensed consolidated balance sheets was derived from those audited financial statements. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial information for the interim periods presented. The unaudited condensed consolidated results of operations for the interim period are not necessarily indicative of the results to be expected for the year ending December 31, 2024 or for any other future annual or interim period. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts therein. The most significant estimates and assumptions relate to business combinations, valuation of intangibles, revenue recognition, inventory valuation, valuation of share-based payments, income taxes, depreciable lives assessment and related disclosure of contingent assets and liabilities. Due to the inherent uncertainty involved, actual results reported in future periods could differ from those estimates. Foreign Currency Translation Foreign currency transaction gains and losses are a result of the effect of exchange rate changes on transactions denominated in currencies other than the functional currency. Realized gains and losses on those foreign currency transactions are included in determining net loss for the period of exchange and are recorded in other income in the condensed consolidated statements of operations. Segment Information The Company determines operating segments based on how the chief operating decision maker (“CODM”) manages the business, makes operating decisions around the allocation of resources, and evaluates operating performance. The CODM is the Executive Management team. The Company has determined that it operates in one operating segment and one reportable segment, relating to the sale and servicing of lidar hardware and software, as the CODM regularly reviews financial information presented on a consolidated basis. Concentration of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk are primarily cash, cash equivalents, and investment securities. As of June 30, 2024, cash and cash equivalents are comprised of operating checking accounts and short-term highly rated money market savings accounts. Short-term investments are comprised of highly rated corporate bonds and U.S. Treasury securities. For the three months ended June 30, 2024, two customers accounted for 71 11 20 20 17 16 For the six months ended June 30, 2024, two customers accounted for 58 22 33 22 11 As of June 30, 2024, accounts receivable related to these customers accounted for 80 Typically, a significant concentration of components and the products sold are manufactured and obtained from single or limited-source suppliers. The loss of any single or limited-source supplier, the failure of any of these suppliers to perform as expected, or the disruption in the supply chain of components from these suppliers could subject the Company to risks and uncertainties including, but not limited to, increased cost of sales, possible loss of revenues, or significant delays in product development or product deliveries, any of which could adversely affect the Company’s financial condition and operating results. Recently Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The ASU is expected to result in incremental disclosures to the Company’s financial statements. In March 2024, the FASB issued ASU No. 2024-01 Compensation: Stock Compensation (Topic 718). The Company is currently evaluating the impact this ASU may have on its financial statements and related disclosures.

NET LOSS PER SHARE

NET LOSS PER SHARE	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
NET LOSS PER SHARE	3. NET LOSS PER SHARE Basic net loss per share is calculated using the weighted-average number of common shares outstanding during the period. Diluted net loss per share is calculated using the weighted-average number of common shares outstanding and the dilutive effect of all potentially dilutive securities, including common stock equivalents and convertible securities. As the effect of dilutive securities outstanding during the period is anti-dilutive, diluted net loss per share is equal to basic net loss per share. The components of basic and diluted net loss per share are as follows (in thousands, except loss per share data): SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE 2024 2023 2024 2023 Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Numerator: Net loss available for common shareholders - basic and diluted $ (23,930 ) $ (20,609 ) $ (50,243 ) $ (39,636 ) Denominator: Weighted-average common shares outstanding - basic and diluted 208,665 177,302 202,706 176,009 Net loss per share - basic and diluted $ (0.11 ) $ (0.12 ) $ (0.25 ) $ (0.23 ) For the three and six months ended June 30, 2024 and 2023, the following securities from net loss per share have been excluded as the effect of including them would have been anti-dilutive: outstanding options exercisable into a total of 0.7 0.8 12.5 9.6

BUSINESS COMBINATION

BUSINESS COMBINATION	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
BUSINESS COMBINATION	4. BUSINESS COMBINATION On January 31, 2023, the Company completed the acquisition of certain net assets of Ibeo, a lidar hardware and software provider based in Hamburg, Germany. The purpose of the acquisition was to acquire certain Ibeo assets, primarily intellectual property and personnel, which enabled the Company to expand their technology and product portfolio and diversify revenue streams. Total consideration related to this transaction was approximately EUR 20.0 21.6 7.0 7.6 6.6 7.1 3.0 3.3 0.6 0.7 2.7 3.0 2.7 0.6 The transaction was accounted for as a business combination. The results of operations for the acquisition are included in the condensed consolidated financial statements from the date of acquisition onwards. The following table summarizes the final purchase price allocation to assets acquired and liabilities assumed (in thousands): SCHEDULE OF PURCHASE PRICE ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED Weighted Amount Useful Life Total purchase consideration $ 21,611 Inventory $ 1,197 Other current assets 703 Operating lease right-of-use assets 234 Property and equipment, net 5,330 Intangible assets: Acquired technology (1) 17,987 13 Order backlog 26 1 Contract liabilities (1,178 ) Operating lease liabilities (234 ) Deferred tax liabilities (785 ) Total identifiable net assets $ 23,280 Bargain purchase gain (2) (1,669 ) (1) During the three months ended June 30, 2024, the Company recognized a $ 3.0 Note 7. Financial Statement Components (2) The bargain purchase gain represents the excess of the fair value of the underlying net assets acquired and liabilities assumed over the purchase consideration and is included in bargain purchase gain, net of tax in the condensed consolidated statements of operations. The bargain purchase gain was attributable to the negotiation process with Ibeo during its insolvency proceedings resulting in cash consideration paid being less than the fair value of the net assets acquired. The estimated fair value of acquired technology was calculated through the income approach using the multi-period excess earnings and relief from royalty methodologies. The estimated fair value of the order backlog was calculated through the income approach using the multi-period excess earnings methodology. Revenue and net loss from the acquisition included in the condensed consolidated statement of operations through June 30, 2023 is $ 1.1 15.1

REVENUE RECOGNITION

REVENUE RECOGNITION	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	5. REVENUE RECOGNITION The following is a description of principal activities from which we generate revenue. Revenues are recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration that we expect to receive in exchange for those goods or services. We evaluate contracts based on the 5-step model as stated in Topic 606 as follows: (i) identify the contract, (ii) identify the performance obligations, (iii) determine the transaction price, (iv) allocate the transaction price, and (v) recognize revenue when (or as) performance obligations are satisfied. A contract contains a promise (or promises) to transfer goods or services to a customer. A performance obligation is a promise (or a group of promises) that is distinct, as defined in the revenue standard. The transaction price is the amount of consideration an entity expects to be entitled to from a customer in exchange for providing the goods or services. A number of factors should be considered to determine the transaction price, including whether there is variable consideration, a significant financing component, noncash consideration, or amounts payable to the customer. The determination of variable consideration will require a significant amount of judgment. In estimating the transaction price we will use either the expected value method or the most likely amount method. The transaction price is allocated to the separate performance obligations in the contract based on relative standalone selling prices. Determining the relative standalone selling price can be challenging when goods or services are not sold on a standalone basis. The revenue standard sets out several methods that can be used to estimate a standalone selling price when one is not directly observable. Allocating discounts and variable consideration must also be considered. Allocating the transaction price can require significant judgement on our part. Revenue is recognized when (or as) the customer obtains control of the good or service/performance obligations are satisfied. Topic 606 provides guidance to help determine if a performance obligation is satisfied at a point in time or over time. Where a performance obligation is satisfied over time, the related revenue is also recognized over time. Disaggregation of Revenue The following table provides information about disaggregated revenue by timing of revenue recognition (in thousands): SCHEDULE OF DISAGGREGATION OF REVENUE Revenue Revenue Revenue Total Three Months Ended June 30, 2024 License and Product Royalty Contract Revenue Revenue Revenue Total Timing of revenue recognition: Products transferred at a point in time $ 1,697 $ 152 $ 51 $ 1,900 Product and services transferred over time - - - - Total $ 1,697 $ 152 $ 51 $ 1,900 Revenue Revenue Revenue Total Six Months Ended June 30, 2024 License and Product Royalty Contract Revenue Revenue Revenue Total Timing of revenue recognition: Products transferred at a point in time $ 2,552 $ 199 $ 105 $ 2,856 Product and services transferred over time - - - - Total $ 2,552 $ 199 $ 105 $ 2,856 Revenue Revenue Revenue Total Three Months Ended June 30, 2023 License and Product Royalty Contract Revenue Revenue Revenue Total Timing of revenue recognition: Products transferred at a point in time $ 261 $ - $ - $ 261 Product and services transferred over time - - 68 68 Total $ 261 $ - $ 68 $ 329 Revenue Revenue Revenue Total Six Months Ended June 30, 2023 License and Product Royalty Contract Revenue Revenue Revenue Total Timing of revenue recognition: Products transferred at a point in time $ 851 $ - $ - $ 851 Product and services transferred over time - - 260 260 Total $ 851 $ - $ 260 $ 1,111 Contract Balances Under Topic 606, the Company’s rights to consideration are presented separately depending on whether those rights are conditional or unconditional. Unconditional rights to consideration are included within accounts receivable, net of allowances in the condensed consolidated balance sheets. Significant changes in the contract assets and the contract liabilities balances during the period are as follows (in thousands, except percentages): SCHEDULE OF CONTRACT WITH CUSTOMER, CONTRACT ASSET, CONTRACT LIABILITY, AND RECEIVABLE June 30, December 31, 2024 2023 $ Change % Change Contract assets and accounts receivable $ 1,970 $ 949 $ 1,021 107.6 % Contract liabilities (172 ) (300 ) 128 (42.7 )% Net contract assets (liabilities) $ 1,798 $ 649 $ 1,149 177.0 Contract Acquisition Costs The Company is required to capitalize certain contract acquisition costs consisting primarily of commissions paid when contracts are signed. As the Company currently does not pay any commissions upon the signing of a contract, no commission cost has been incurred as of June 30, 2024. Transaction Price Allocated to the Remaining Performance Obligations The remaining balance of the contract liabilities was approximately $ 0.2 100

INVESTMENT SECURITIES, AVAILABL

INVESTMENT SECURITIES, AVAILABLE-FOR-SALE AND FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2024
Investments, All Other Investments [Abstract]
INVESTMENT SECURITIES, AVAILABLE-FOR-SALE AND FAIR VALUE MEASUREMENTS	6. INVESTMENT SECURITIES, AVAILABLE-FOR-SALE AND FAIR VALUE MEASUREMENTS Investment securities, available-for-sale is comprised of corporate and government debt securities. The principal markets for the debt securities are dealer markets which have a high level of price transparency. The market participants for debt securities are typically large money center banks and regional banks, brokers, dealers, pension funds, and other entities with debt investment portfolios. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the authoritative guidance establishes a three level fair value inputs hierarchy and requires an entity to maximize the use of observable valuation inputs and minimize the use of unobservable inputs. The Company uses market data, assumptions, and risks that market participants would use in measuring the fair value of the asset or liability, including the risks inherent in the inputs and the valuation techniques. The hierarchy is summarized below. Level 1 - Quoted prices in active markets for identical assets and liabilities at the measurement date that the reporting entity has the ability to access. Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 - Unobservable inputs for which there is little or no market data, which requires us to develop our own assumptions, which are significant to the measurement of the fair values. The valuation inputs hierarchy classification for assets measured at fair value on a recurring basis are summarized below as of June 30, 2024 and December 31, 2023 (in thousands). These tables do not include cash held in money market savings accounts. SCHEDULE OF FAIR VALUE HIERARCHY ASSETS AND LIABILITIES Level 1 Level 2 Level 3 Total As of June 30, 2024 Investment securities, available for sale: Corporate debt securities $ - $ 15,200 $ - $ 15,200 U.S. Treasury securities - 14,734 - 14,734 $ - $ 29,934 $ - $ 29,934 Level 1 Level 2 Level 3 Total As of December 31, 2023 Investment securities, available for sale: Corporate debt securities $ - $ 8,471 $ - $ 8,471 U.S. Treasury securities - 20,140 - 20,140 $ - $ 28,611 $ - $ 28,611 Short-term investments are summarized below as of June 30, 2024 and December 31, 2023 (in thousands). SCHEDULE OF UNREALIZED GAIN OR LOSS ON SHORT-TERM INVESTMENTS Investment Cost/ Gross Gross Securities, Amortized Unrealized Unrealized Available- Cost Gains Losses For-Sale As of June 30, 2024 Investment securities, available for sale: Corporate debt securities $ 15,210 1 (11 ) $ 15,200 U.S. Treasury securities 14,742 - (8 ) 14,734 $ 29,952 $ 1 $ (19 ) $ 29,934 Investment Cost/ Gross Gross Securities, Amortized Unrealized Unrealized Available- Cost Gains Losses For-Sale As of December 31, 2023 Investment securities, available for sale: Corporate debt securities $ 8,466 $ 6 $ (1 ) $ 8,471 U.S. Treasury securities 20,119 21 - 20,140 $ 28,585 $ 27 $ (1 ) $ 28,611 The maturities of the investment securities, available-for-sale as of June 30, 2024 and December 31, 2023 are shown below (in thousands): SCHEDULE OF MATURITY DATE OF AVAILABLE-FOR-SALE SECURITIES Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value As of June 30, 2024 Maturity date Less than one year $ 29,952 1 (19 ) $ 29,934 $ 29,952 $ 29,934 Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value As of December 31, 2023 Maturity date Less than one year $ 28,585 $ 27 $ (1 ) $ 28,611 $ 28,585 $ 28,611 The following table summarizes investments that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for more than 12 months as of June 30, 2024 and December 31, 2023 (in thousands): SCHEDULE OF UNREALIZED LOSS ON INVESTMENTS SECURITIES Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses As of June 30, 2024 Corporate debt securities $ 10,795 (11 ) $ - $ - $ 10,795 $ (11 ) U.S. Treasury securities 10,555 (8 ) - - 10,555 (8 ) $ 21,350 $ (19 ) $ - $ - $ 21,350 $ (19 ) Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses As of December 31, 2023 Corporate debt securities $ 1,488 $ (1 ) $ - $ - $ 1,488 $ (1 ) U.S. Treasury securities 1,486 - - - 1,486 - $ 2,974 $ (1 ) $ - $ - $ 2,974 $ (1 )

FINANCIAL STATEMENT COMPONENTS

FINANCIAL STATEMENT COMPONENTS	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
FINANCIAL STATEMENT COMPONENTS	7. FINANCIAL STATEMENT COMPONENTS The following financial statement components have significant balances as of June 30, 2024. Restricted Cash During the six months ended June 30, 2024, Restricted cash, current decreased largely due to a $ 3.3 1.0 Inventory Inventory consists of the following: SCHEDULE OF COMPONENTS OF INVENTORY June 30, December 31, (in thousands) 2024 2023 Raw materials $ 1,995 $ 1,574 Work in process - 305 Finished goods 2,208 1,995 Total inventory $ 4,203 $ 3,874 Inventory is computed using the first-in, first-out (FIFO) method and is stated at the lower of cost and net realizable value. Management periodically assesses the need to account for obsolescence of inventory and adjusts the carrying value of inventory to its net realizable value when required. Property and Equipment Property and equipment consists of the following: SCHEDULE OF COMPONENTS OF PROPERTY, PLANT AND EQUIPMENT June 30, December 31, (in thousands) 2024 2023 Production equipment $ 6,140 $ 6,140 Leasehold improvements 3,961 3,843 Computer hardware and software/lab equipment 12,238 12,149 Office furniture and equipment 5,309 5,367 Property and equipment, gross 27,648 27,499 Less: Accumulated depreciation (19,517 ) (18,467 ) Property and equipment, net $ 8,131 $ 9,032 Depreciation expense was $ 0.6 0.5 million for the three months ended June 30, 2024 and 2023, respectively, and $ 1.1 million and $ 1.7 million for the six months ended June 30, 2024 and 2023, respectively. Intangible Assets The components of intangible assets were as follows: SUMMARY OF COMPONENTS OF INTANGIBLE ASSETS Gross Net Weighted As of June 30, 2024 Carrying Accumulated Impairment Carrying Remaining (in thousands) Amount Amortization Expense Amount Period (Years) Acquired technology $ 20,172 $ 4,064 $ 3,027 $ 13,081 12 Backlog 26 26 - - - $ 20,198 $ 4,090 $ 3,027 $ 13,081 Gross Net Weighted As of December 31, 2023 Carrying Accumulated Impairment Carrying Remaining (in thousands) Amount Amortization Expense Amount Period (Years) Acquired technology $ 20,172 $ 2,940 $ - $ 17,232 12 Backlog 26 23 - 3 - $ 20,198 $ 2,963 $ - $ 17,235 Amortization expense was $ 0.6 1.1 0.9 During the quarter ended June 30, 2024, management identified various factors related to the 2024 restructuring events (see Note 13. Restructuring Charges 4.5 Property, Plant and Equipment 3.0 1.4 The following table outlines estimated future amortization expense related to intangible assets held as of June 30, 2024 (in thousands): SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE RELATED TO INTANGIBLE ASSETS Research and Cost of Development Years Ended December 31, Revenue Expense Total 2024 (remainder of the year) $ 723 245 $ 968 2025 1,446 55 1,501 2026 1,446 25 1,471 2027 829 - 829 Thereafter 8,312 - 8,312 Total $ 12,756 $ 325 $ 13,081

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	8. SHARE-BASED COMPENSATION The Company issues share-based compensation to employees in the form of restricted stock units (RSUs), performance stock units (PSUs), and stock options. Share-based awards are accounted for by recognizing the fair value of share-based compensation expense on a straight-line basis over the service period of the award, net of estimated forfeitures. The fair value of RSUs and PSUs is determined by the closing price of common stock on the date of grant. The fair value of stock options is estimated on the grant date using the Black-Scholes option pricing model. Changes in estimated inputs or using other option valuation methods may result in materially different option values and share-based compensation expense. The following table summarizes the amount of share-based compensation expense by line item on the statements of operations: SCHEDULE OF SHARE-BASED COMPENSATION EXPENSE Three Months Ended Six Months Ended Share-based compensation expense June 30, June 30, (in thousands) 2024 2023 2024 2023 Research and development expense $ 1,252 $ 1,486 $ 2,596 $ 2,244 Sales, marketing, general and administrative expense 2,101 2,380 4,500 4,571 Total Share-based compensation expense $ 3,353 $ 3,866 $ 7,096 $ 6,815 Options Activity and Positions The following table summarizes shares, weighted-average exercise price, weighted-average remaining contractual term, and aggregate intrinsic value of options outstanding and options exercisable as of June 30, 2024 (in thousands, except per share data): SCHEDULE OF OPTIONS ACTIVITY AND POSITIONS Weighted- Weighted- Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Shares Price Term (years) Value Outstanding as of June 30, 2024 668 $ 1.42 4.0 $ 108 Exercisable as of June 30, 2024 668 $ 1.42 4.0 $ 108 As of June 30, 2024, there is no unrecognized share-based employee compensation related to stock options. Restricted Stock Activity and Positions The following table summarizes activity and positions with respect to RSUs and PSUs for the six months ended June 30, 2024 (in thousands, except per share data): SCHEDULE OF ACTIVITY AND POSITIONS WITH RESPECT TO RSUs AND PSUs Weighted- Shares Price Unvested as of December 31, 2023 9,983 $ 3.09 Granted 6,089 1.40 Vested (2,786 ) 5.11 Forfeited (823 ) 2.71 Unvested as of June 30, 2024 12,463 $ 1.85 During the six months ended June 30, 2024, the Company granted 3,955,000 69,000 During the six months ended June 30, 2024, the Company granted 2,065,000 As of June 30, 2024, unrecognized share-based compensation related to RSUs was $ 7.7 2.2 4.0 1.4 0.8 1.0

LEASES

LEASES	6 Months Ended
	Jun. 30, 2024
Leases
LEASES	9. LEASES The Company leases office space and certain equipment under operating and finance leases. All leases have remaining lease terms of one to eight years. Office lease agreements include both lease and non-lease components, which are accounted for separately. Finance leases contain options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless the Company is reasonably certain to exercise the purchase option. In September 2021, the Company entered into a lease agreement for office space in Redmond, Washington which commenced in November 2021. In addition to base rent, the Company pays additional rent comprised of a proportionate share of any operating expenses, real estate taxes, and management fees. The lease, which expires in July 2032, includes an option to extend the term for one ten-year renewal period. In September 2021, the Company entered into a lease agreement for product testing and lab space in Redmond, Washington which commenced in December 2022. In addition to base rent, the Company will pay additional rent comprised of a proportionate share of any operating expenses, real estate taxes, and management fees. During the quarter ended June 30, 2023, a payment of $ 3.0 expires in December 2032, contains an option to extend the term for one ten-year renewal period. In April 2022, the Company entered into a lease agreement for product testing for engineering and development activities in Nuremberg, Germany which commenced in May 2022. In June 2024, the Company abandoned the space prior to its expiration of November 2027. 0.2 In September 2022, the Company entered into a lease agreement for office space in Nuremberg, Germany which commenced in November 2022. In June 2024, the Company entered into an early termination agreement to decrease the expiration from April 2027 to April 2025 0.1 Additionally, in connection with the January 2023 acquisition of assets from Ibeo, the Company assumed three leases in Hamburg, Germany. The first lease, which is for space for IT network equipment, will be abandoned prior to its expiration date of December 2026 in November 2024. 0.1 expired in August 2023 expires in July 2024. In December 2023, the Company entered into a lease agreement in Hamburg, Germany for office space to replace the existing Hamburg, Germany leases. The lease, which is expected to commence between August 2024 and December 2024, provides for a term of 60 months. The lease liability associated with this forward-starting lease are excluded from the tables below. The components of lease expense are as follows: SCHEDULE OF COMPONENTS OF LEASE EXPENSE Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2024 2023 2024 2023 Operating lease expense $ 668 $ 592 $ 1,333 $ 1,282 Finance lease expense: Amortization of leased assets - 6 - 12 Interest on lease liabilities - - - - Total finance lease expense - 6 - 12 Total lease expense $ 668 $ 598 $ 1,333 $ 1,294 Supplemental cash flow information related to leases is as follows: SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES Six Months Ended June 30, (in thousands) 2024 2023 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 1,299 1,096 Operating cash flows from finance leases - - Financing cash flows from finance leases - 13 Supplemental balance sheet information related to leases is as follows: SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASES June 30, December 31, (in thousands) 2024 2023 Operating leases Operating lease right-of-use assets $ 12,348 $ 13,758 Current portion of operating lease liabilities 2,113 2,323 Operating lease liabilities, net of current portion 11,936 12,714 Total operating lease liabilities $ 14,049 $ 15,037 Finance leases Property and equipment, at cost $ 112 $ 112 Accumulated depreciation (106 ) (97 ) Property and equipment, net $ 6 $ 15 Weighted Average Remaining Lease Term Operating leases 8.1 8.4 Weighted Average Discount Rate Operating leases 4.6 % 4.6 % As of June 30, 2024, maturities of lease liabilities are as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES (in thousands) Operating Years Ended December 31, leases 2024 (remainder of year) $ 1,110 2025 2,017 2026 1,979 2027 1,950 Thereafter 9,663 Total minimum lease payments 16,719 Less: amount representing interest (2,670 ) Present value of capital lease liabilities $ 14,049

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	10. COMMITMENTS AND CONTINGENCIES Purchase Commitments During the quarter ended September 30, 2023, the Company entered into a $ 9.3 5.2 Litigation The Company is subject to various claims and pending or threatened lawsuits in the normal course of business. The Company is not currently party to any legal proceedings that management believes are reasonably possible to have a material adverse effect on financial position, results of operations, or cash flows.

COMMON STOCK

COMMON STOCK	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
COMMON STOCK	11. COMMON STOCK In March 2024, the Company entered into a $ 150 Mizuho Securities USA LLC, and Craig-Hallum Capital Group LLC (collectively, the “Agents”). 150.0 15.0 26.1 122.6 In June 2023, the Company entered into a $ 45.0 million ATM equity offering agreement with Craig-Hallum. Under the agreement, the Company was able, with discretion, to offer and sell shares of common stock having an aggregate value of up to $ 45.0 million through Craig-Hallum. As of June 30, 2023, the Company had completed sales under such sales agreement, having sold 10.9 million shares for net proceeds of $ 43.9 million. No further shares are available for sales under this agreement. In June 2021, the Company entered into a $ 140.0 million ATM equity offering agreement with Craig-Hallum. Under the agreement, the Company was able, with discretion, to offer and sell shares of common stock having an aggregate value of up to $ 140.0 million through Craig-Hallum. As of December 31, 2022, the Company had issued 8.3 million shares of common stock for net proceeds of $ 81.8 million under the agreement. During the quarter ended March 31, 2023, the Company issued 5.0 million shares of common stock for net proceeds of $ 12.5 million under the agreement. The sales agreement was terminated in June 2023.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	12. INCOME TAXES The Company recognized income tax expense of $ 0.1 0.3 0.3 0.5 As of June 30, 2024, the Company continues to have no

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES	13. RESTRUCTURING CHARGES In the first half of 2024, to better align the Company’s resources to support business needs, the Company reduced the global workforce by approximately 37%. The Company recognized approximately $ 5.7 2.2

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation The unaudited condensed consolidated financial statements and accompanying notes include the accounts of the Company and its wholly owned subsidiaries, after elimination of all intercompany balances and transactions. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and the requirements of the U.S. Securities and Exchange Commission (the “SEC”) for interim financial information. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2023. The information as of December 31, 2023 included in the condensed consolidated balance sheets was derived from those audited financial statements. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial information for the interim periods presented. The unaudited condensed consolidated results of operations for the interim period are not necessarily indicative of the results to be expected for the year ending December 31, 2024 or for any other future annual or interim period.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts therein. The most significant estimates and assumptions relate to business combinations, valuation of intangibles, revenue recognition, inventory valuation, valuation of share-based payments, income taxes, depreciable lives assessment and related disclosure of contingent assets and liabilities. Due to the inherent uncertainty involved, actual results reported in future periods could differ from those estimates.
Foreign Currency Translation	Foreign Currency Translation Foreign currency transaction gains and losses are a result of the effect of exchange rate changes on transactions denominated in currencies other than the functional currency. Realized gains and losses on those foreign currency transactions are included in determining net loss for the period of exchange and are recorded in other income in the condensed consolidated statements of operations.
Segment Information	Segment Information The Company determines operating segments based on how the chief operating decision maker (“CODM”) manages the business, makes operating decisions around the allocation of resources, and evaluates operating performance. The CODM is the Executive Management team. The Company has determined that it operates in one operating segment and one reportable segment, relating to the sale and servicing of lidar hardware and software, as the CODM regularly reviews financial information presented on a consolidated basis.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk are primarily cash, cash equivalents, and investment securities. As of June 30, 2024, cash and cash equivalents are comprised of operating checking accounts and short-term highly rated money market savings accounts. Short-term investments are comprised of highly rated corporate bonds and U.S. Treasury securities. For the three months ended June 30, 2024, two customers accounted for 71 11 20 20 17 16 For the six months ended June 30, 2024, two customers accounted for 58 22 33 22 11 As of June 30, 2024, accounts receivable related to these customers accounted for 80 Typically, a significant concentration of components and the products sold are manufactured and obtained from single or limited-source suppliers. The loss of any single or limited-source supplier, the failure of any of these suppliers to perform as expected, or the disruption in the supply chain of components from these suppliers could subject the Company to risks and uncertainties including, but not limited to, increased cost of sales, possible loss of revenues, or significant delays in product development or product deliveries, any of which could adversely affect the Company’s financial condition and operating results.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The ASU is expected to result in incremental disclosures to the Company’s financial statements. In March 2024, the FASB issued ASU No. 2024-01 Compensation: Stock Compensation (Topic 718). The Company is currently evaluating the impact this ASU may have on its financial statements and related disclosures.

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE	The components of basic and diluted net loss per share are as follows (in thousands, except loss per share data): SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE 2024 2023 2024 2023 Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Numerator: Net loss available for common shareholders - basic and diluted $ (23,930 ) $ (20,609 ) $ (50,243 ) $ (39,636 ) Denominator: Weighted-average common shares outstanding - basic and diluted 208,665 177,302 202,706 176,009 Net loss per share - basic and diluted $ (0.11 ) $ (0.12 ) $ (0.25 ) $ (0.23 )

BUSINESS COMBINATION (Tables)

BUSINESS COMBINATION (Tables)	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
SCHEDULE OF PURCHASE PRICE ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED	The following table summarizes the final purchase price allocation to assets acquired and liabilities assumed (in thousands): SCHEDULE OF PURCHASE PRICE ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED Weighted Amount Useful Life Total purchase consideration $ 21,611 Inventory $ 1,197 Other current assets 703 Operating lease right-of-use assets 234 Property and equipment, net 5,330 Intangible assets: Acquired technology (1) 17,987 13 Order backlog 26 1 Contract liabilities (1,178 ) Operating lease liabilities (234 ) Deferred tax liabilities (785 ) Total identifiable net assets $ 23,280 Bargain purchase gain (2) (1,669 ) (1) During the three months ended June 30, 2024, the Company recognized a $ 3.0 Note 7. Financial Statement Components (2) The bargain purchase gain represents the excess of the fair value of the underlying net assets acquired and liabilities assumed over the purchase consideration and is included in bargain purchase gain, net of tax in the condensed consolidated statements of operations. The bargain purchase gain was attributable to the negotiation process with Ibeo during its insolvency proceedings resulting in cash consideration paid being less than the fair value of the net assets acquired.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
SCHEDULE OF DISAGGREGATION OF REVENUE	The following table provides information about disaggregated revenue by timing of revenue recognition (in thousands): SCHEDULE OF DISAGGREGATION OF REVENUE Revenue Revenue Revenue Total Three Months Ended June 30, 2024 License and Product Royalty Contract Revenue Revenue Revenue Total Timing of revenue recognition: Products transferred at a point in time $ 1,697 $ 152 $ 51 $ 1,900 Product and services transferred over time - - - - Total $ 1,697 $ 152 $ 51 $ 1,900 Revenue Revenue Revenue Total Six Months Ended June 30, 2024 License and Product Royalty Contract Revenue Revenue Revenue Total Timing of revenue recognition: Products transferred at a point in time $ 2,552 $ 199 $ 105 $ 2,856 Product and services transferred over time - - - - Total $ 2,552 $ 199 $ 105 $ 2,856 Revenue Revenue Revenue Total Three Months Ended June 30, 2023 License and Product Royalty Contract Revenue Revenue Revenue Total Timing of revenue recognition: Products transferred at a point in time $ 261 $ - $ - $ 261 Product and services transferred over time - - 68 68 Total $ 261 $ - $ 68 $ 329 Revenue Revenue Revenue Total Six Months Ended June 30, 2023 License and Product Royalty Contract Revenue Revenue Revenue Total Timing of revenue recognition: Products transferred at a point in time $ 851 $ - $ - $ 851 Product and services transferred over time - - 260 260 Total $ 851 $ - $ 260 $ 1,111
SCHEDULE OF CONTRACT WITH CUSTOMER, CONTRACT ASSET, CONTRACT LIABILITY, AND RECEIVABLE	Significant changes in the contract assets and the contract liabilities balances during the period are as follows (in thousands, except percentages): SCHEDULE OF CONTRACT WITH CUSTOMER, CONTRACT ASSET, CONTRACT LIABILITY, AND RECEIVABLE June 30, December 31, 2024 2023 $ Change % Change Contract assets and accounts receivable $ 1,970 $ 949 $ 1,021 107.6 % Contract liabilities (172 ) (300 ) 128 (42.7 )% Net contract assets (liabilities) $ 1,798 $ 649 $ 1,149 177.0

INVESTMENT SECURITIES, AVAILA_2

INVESTMENT SECURITIES, AVAILABLE-FOR-SALE AND FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Investments, All Other Investments [Abstract]
SCHEDULE OF FAIR VALUE HIERARCHY ASSETS AND LIABILITIES	The valuation inputs hierarchy classification for assets measured at fair value on a recurring basis are summarized below as of June 30, 2024 and December 31, 2023 (in thousands). These tables do not include cash held in money market savings accounts. SCHEDULE OF FAIR VALUE HIERARCHY ASSETS AND LIABILITIES Level 1 Level 2 Level 3 Total As of June 30, 2024 Investment securities, available for sale: Corporate debt securities $ - $ 15,200 $ - $ 15,200 U.S. Treasury securities - 14,734 - 14,734 $ - $ 29,934 $ - $ 29,934 Level 1 Level 2 Level 3 Total As of December 31, 2023 Investment securities, available for sale: Corporate debt securities $ - $ 8,471 $ - $ 8,471 U.S. Treasury securities - 20,140 - 20,140 $ - $ 28,611 $ - $ 28,611
SCHEDULE OF UNREALIZED GAIN OR LOSS ON SHORT-TERM INVESTMENTS	Short-term investments are summarized below as of June 30, 2024 and December 31, 2023 (in thousands). SCHEDULE OF UNREALIZED GAIN OR LOSS ON SHORT-TERM INVESTMENTS Investment Cost/ Gross Gross Securities, Amortized Unrealized Unrealized Available- Cost Gains Losses For-Sale As of June 30, 2024 Investment securities, available for sale: Corporate debt securities $ 15,210 1 (11 ) $ 15,200 U.S. Treasury securities 14,742 - (8 ) 14,734 $ 29,952 $ 1 $ (19 ) $ 29,934 Investment Cost/ Gross Gross Securities, Amortized Unrealized Unrealized Available- Cost Gains Losses For-Sale As of December 31, 2023 Investment securities, available for sale: Corporate debt securities $ 8,466 $ 6 $ (1 ) $ 8,471 U.S. Treasury securities 20,119 21 - 20,140 $ 28,585 $ 27 $ (1 ) $ 28,611
SCHEDULE OF MATURITY DATE OF AVAILABLE-FOR-SALE SECURITIES	The maturities of the investment securities, available-for-sale as of June 30, 2024 and December 31, 2023 are shown below (in thousands): SCHEDULE OF MATURITY DATE OF AVAILABLE-FOR-SALE SECURITIES Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value As of June 30, 2024 Maturity date Less than one year $ 29,952 1 (19 ) $ 29,934 $ 29,952 $ 29,934 Gross Gross Amortized Unrealized Unrealized Estimated Cost Gains Losses Fair Value As of December 31, 2023 Maturity date Less than one year $ 28,585 $ 27 $ (1 ) $ 28,611 $ 28,585 $ 28,611
SCHEDULE OF UNREALIZED LOSS ON INVESTMENTS SECURITIES	The following table summarizes investments that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for more than 12 months as of June 30, 2024 and December 31, 2023 (in thousands): SCHEDULE OF UNREALIZED LOSS ON INVESTMENTS SECURITIES Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses As of June 30, 2024 Corporate debt securities $ 10,795 (11 ) $ - $ - $ 10,795 $ (11 ) U.S. Treasury securities 10,555 (8 ) - - 10,555 (8 ) $ 21,350 $ (19 ) $ - $ - $ 21,350 $ (19 ) Less than Twelve Months Twelve Months or Greater Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses As of December 31, 2023 Corporate debt securities $ 1,488 $ (1 ) $ - $ - $ 1,488 $ (1 ) U.S. Treasury securities 1,486 - - - 1,486 - $ 2,974 $ (1 ) $ - $ - $ 2,974 $ (1 )

FINANCIAL STATEMENT COMPONENTS

FINANCIAL STATEMENT COMPONENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SCHEDULE OF COMPONENTS OF INVENTORY	Inventory consists of the following: SCHEDULE OF COMPONENTS OF INVENTORY June 30, December 31, (in thousands) 2024 2023 Raw materials $ 1,995 $ 1,574 Work in process - 305 Finished goods 2,208 1,995 Total inventory $ 4,203 $ 3,874
SCHEDULE OF COMPONENTS OF PROPERTY, PLANT AND EQUIPMENT	Property and equipment consists of the following: SCHEDULE OF COMPONENTS OF PROPERTY, PLANT AND EQUIPMENT June 30, December 31, (in thousands) 2024 2023 Production equipment $ 6,140 $ 6,140 Leasehold improvements 3,961 3,843 Computer hardware and software/lab equipment 12,238 12,149 Office furniture and equipment 5,309 5,367 Property and equipment, gross 27,648 27,499 Less: Accumulated depreciation (19,517 ) (18,467 ) Property and equipment, net $ 8,131 $ 9,032
SUMMARY OF COMPONENTS OF INTANGIBLE ASSETS	The components of intangible assets were as follows: SUMMARY OF COMPONENTS OF INTANGIBLE ASSETS Gross Net Weighted As of June 30, 2024 Carrying Accumulated Impairment Carrying Remaining (in thousands) Amount Amortization Expense Amount Period (Years) Acquired technology $ 20,172 $ 4,064 $ 3,027 $ 13,081 12 Backlog 26 26 - - - $ 20,198 $ 4,090 $ 3,027 $ 13,081 Gross Net Weighted As of December 31, 2023 Carrying Accumulated Impairment Carrying Remaining (in thousands) Amount Amortization Expense Amount Period (Years) Acquired technology $ 20,172 $ 2,940 $ - $ 17,232 12 Backlog 26 23 - 3 - $ 20,198 $ 2,963 $ - $ 17,235
SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE RELATED TO INTANGIBLE ASSETS	The following table outlines estimated future amortization expense related to intangible assets held as of June 30, 2024 (in thousands): SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE RELATED TO INTANGIBLE ASSETS Research and Cost of Development Years Ended December 31, Revenue Expense Total 2024 (remainder of the year) $ 723 245 $ 968 2025 1,446 55 1,501 2026 1,446 25 1,471 2027 829 - 829 Thereafter 8,312 - 8,312 Total $ 12,756 $ 325 $ 13,081

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
SCHEDULE OF SHARE-BASED COMPENSATION EXPENSE	The following table summarizes the amount of share-based compensation expense by line item on the statements of operations: SCHEDULE OF SHARE-BASED COMPENSATION EXPENSE Three Months Ended Six Months Ended Share-based compensation expense June 30, June 30, (in thousands) 2024 2023 2024 2023 Research and development expense $ 1,252 $ 1,486 $ 2,596 $ 2,244 Sales, marketing, general and administrative expense 2,101 2,380 4,500 4,571 Total Share-based compensation expense $ 3,353 $ 3,866 $ 7,096 $ 6,815
SCHEDULE OF OPTIONS ACTIVITY AND POSITIONS	The following table summarizes shares, weighted-average exercise price, weighted-average remaining contractual term, and aggregate intrinsic value of options outstanding and options exercisable as of June 30, 2024 (in thousands, except per share data): SCHEDULE OF OPTIONS ACTIVITY AND POSITIONS Weighted- Weighted- Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Shares Price Term (years) Value Outstanding as of June 30, 2024 668 $ 1.42 4.0 $ 108 Exercisable as of June 30, 2024 668 $ 1.42 4.0 $ 108
SCHEDULE OF ACTIVITY AND POSITIONS WITH RESPECT TO RSUs AND PSUs	The following table summarizes activity and positions with respect to RSUs and PSUs for the six months ended June 30, 2024 (in thousands, except per share data): SCHEDULE OF ACTIVITY AND POSITIONS WITH RESPECT TO RSUs AND PSUs Weighted- Shares Price Unvested as of December 31, 2023 9,983 $ 3.09 Granted 6,089 1.40 Vested (2,786 ) 5.11 Forfeited (823 ) 2.71 Unvested as of June 30, 2024 12,463 $ 1.85

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2024
Leases
SCHEDULE OF COMPONENTS OF LEASE EXPENSE	The components of lease expense are as follows: SCHEDULE OF COMPONENTS OF LEASE EXPENSE Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2024 2023 2024 2023 Operating lease expense $ 668 $ 592 $ 1,333 $ 1,282 Finance lease expense: Amortization of leased assets - 6 - 12 Interest on lease liabilities - - - - Total finance lease expense - 6 - 12 Total lease expense $ 668 $ 598 $ 1,333 $ 1,294
SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES	Supplemental cash flow information related to leases is as follows: SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES Six Months Ended June 30, (in thousands) 2024 2023 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 1,299 1,096 Operating cash flows from finance leases - - Financing cash flows from finance leases - 13
SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASES	Supplemental balance sheet information related to leases is as follows: SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASES June 30, December 31, (in thousands) 2024 2023 Operating leases Operating lease right-of-use assets $ 12,348 $ 13,758 Current portion of operating lease liabilities 2,113 2,323 Operating lease liabilities, net of current portion 11,936 12,714 Total operating lease liabilities $ 14,049 $ 15,037 Finance leases Property and equipment, at cost $ 112 $ 112 Accumulated depreciation (106 ) (97 ) Property and equipment, net $ 6 $ 15 Weighted Average Remaining Lease Term Operating leases 8.1 8.4 Weighted Average Discount Rate Operating leases 4.6 % 4.6 %
SCHEDULE OF MATURITIES OF LEASE LIABILITIES	As of June 30, 2024, maturities of lease liabilities are as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES (in thousands) Operating Years Ended December 31, leases 2024 (remainder of year) $ 1,110 2025 2,017 2026 1,979 2027 1,950 Thereafter 9,663 Total minimum lease payments 16,719 Less: amount representing interest (2,670 ) Present value of capital lease liabilities $ 14,049

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Total liquidity	$ 56,700		$ 56,700
Cash and cash equivalents	26,800		26,800
Short-term investment securities	29,900		29,900
Share issued value	$ 5,539	$ 42,995	26,099	$ 55,686
ATM Equity Offering Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Share issued value			$ 122,600

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - Customer Concentration Risk [Member]	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue Benchmark [Member] | One Customer [Member]
Product Information [Line Items]
Concentration risk, percentage	71%	20%	58%	33%
Revenue Benchmark [Member] | Two Customer [Member]
Product Information [Line Items]
Concentration risk, percentage	11%	20%	22%	22%
Revenue Benchmark [Member] | Three Customer [Member]
Product Information [Line Items]
Concentration risk, percentage		17%		11%
Revenue Benchmark [Member] | Four Customer [Member]
Product Information [Line Items]
Concentration risk, percentage		16%
Accounts Receivable [Member] | Customers [Member]
Product Information [Line Items]
Concentration risk, percentage	80%

SCHEDULE OF BASIC AND DILUTED N

SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net loss available for common shareholders - basic and diluted	$ (23,930)	$ (20,609)	$ (50,243)	$ (39,636)
Weighted-average common shares outstanding - basic	208,665	177,302	202,706	176,009
Weighted-average common shares outstanding - diluted	208,665	177,302	202,706	176,009
Net loss per share, basic	$ (0.11)	$ (0.12)	$ (0.25)	$ (0.23)
Net loss per share, diluted	$ (0.11)	$ (0.12)	$ (0.25)	$ (0.23)

NET LOSS PER SHARE (Details Nar

NET LOSS PER SHARE (Details Narrative) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti dilutive outstanding options exercisable into common stock	0.7	0.8	0.7	0.8
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti dilutive outstanding options exercisable into common stock	12.5	9.6	12.5	9.6

SCHEDULE OF PURCHASE PRICE ALLO

SCHEDULE OF PURCHASE PRICE ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED (Details) $ in Thousands, € in Millions						3 Months Ended		6 Months Ended		12 Months Ended
		Jan. 31, 2023 USD ($)		Jan. 31, 2023 EUR (€)		Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023
Business Acquisition [Line Items]
Bargain purchase amount									$ 1,706
Acquired Technology [Member]
Business Acquisition [Line Items]
Acquired intangible assets, weighted average useful life		13 years	[1]	13 years	[1]			12 years		12 years
Order Backlog [Member]
Business Acquisition [Line Items]
Acquired intangible assets, weighted average useful life		1 year		1 year
Ibeo Automotive Systems [Member]
Business Acquisition [Line Items]
Total purchase consideration		$ 21,611		€ 20
Inventory		1,197
Other current assets		703
Operating lease right-of-use assets		234
Property and equipment, net		5,330
Acquired technology	[1]	17,987
Order backlog		26
Contract liabilities		(1,178)
Operating lease liabilities		(234)
Deferred tax liabilities		(785)
Total identifiable net assets		23,280
Bargain purchase amount	[2]	$ 1,669
[1]During the three months ended June 30, 2024, the Company recognized a $ 3.0 Note 7. Financial Statement Components

SCHEDULE OF PURCHASE PRICE AL_2

SCHEDULE OF PURCHASE PRICE ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED (Details) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Impairment charge on intangible assets	$ 3,027		$ 3,027

BUSINESS COMBINATION (Details N

BUSINESS COMBINATION (Details Narrative) $ in Thousands, € in Millions			3 Months Ended					6 Months Ended
	Jan. 31, 2023 USD ($)	Jan. 31, 2023 EUR (€)	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2024 EUR (€)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Jan. 31, 2023 EUR (€)
Business Acquisition [Line Items]
Cash consideration transferred								$ 6,300	$ 11,233
Escrow releasesd									3,263
Accrued liabilities										€ 2.7	$ 6,300
Net loss			$ (23,930)			$ (20,609)		$ (50,243)	(39,636)
Ibeo Automotive Systems [Member]
Business Acquisition [Line Items]
Consideration transferred	$ 21,611	€ 20
Cash consideration paid	7,600	7
Cash consideration transferred	7,100	€ 6.6
Escrow releasesd				$ 3,300	€ 3
Advance cash consideration	700											€ 0.6
Deduction in purchase price	$ 3,000											€ 2.7
Acquisition related costs							$ 600
Revenues									1,100
Net loss									$ 15,100

SCHEDULE OF DISAGGREGATION OF R

SCHEDULE OF DISAGGREGATION OF REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total	$ 1,900	$ 329	$ 2,856	$ 1,111
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Total	1,900	261	2,856	851
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Total		68		260
Product Revenue [Member]
Disaggregation of Revenue [Line Items]
Total	1,697	261	2,552	851
Product Revenue [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Total	1,697	261	2,552	851
Product Revenue [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Total
License And Royalty Revenue [Member]
Disaggregation of Revenue [Line Items]
Total	152		199
License And Royalty Revenue [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Total	152		199
License And Royalty Revenue [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Total
Contract Revenue [Member]
Disaggregation of Revenue [Line Items]
Total	51	68	105	260
Contract Revenue [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Total	51		105
Contract Revenue [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Total		$ 68		$ 260

SCHEDULE OF CONTRACT WITH CUSTO

SCHEDULE OF CONTRACT WITH CUSTOMER, CONTRACT ASSET, CONTRACT LIABILITY, AND RECEIVABLE (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract assets and accounts receivable	$ 1,970	$ 949
Change in contract assets and accounts receivable	$ 1,021
Percentage change in contract assets and accounts receivable	107.60%
Contract liabilities	$ (172)	(300)
Change in contract liabilities	$ 128
Percentage change in contract liabilities	(42.70%)
Net contract assets (liabilities)	$ 1,798	$ 649
Change in net contract assets (liabilities)	$ 1,149
Percentage change in net contract assets (liabilities)	177%

REVENUE RECOGNITION (Details Na

REVENUE RECOGNITION (Details Narrative) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract liabilities	$ 172	$ 300
Revenue recognized percentage	100%

SCHEDULE OF FAIR VALUE HIERARCH

SCHEDULE OF FAIR VALUE HIERARCHY ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Platform Operator, Crypto Asset [Line Items]
Assets	$ 29,934	$ 28,611
Corporate Debt Securities [Member]
Platform Operator, Crypto Asset [Line Items]
Assets	15,200	8,471
US Treasury Securities [Member]
Platform Operator, Crypto Asset [Line Items]
Assets	14,734	20,140
Fair Value, Recurring [Member]
Platform Operator, Crypto Asset [Line Items]
Assets, Total	29,934	28,611
Fair Value, Recurring [Member] | Corporate Debt Securities [Member]
Platform Operator, Crypto Asset [Line Items]
Assets	15,200	8,471
Fair Value, Recurring [Member] | US Treasury Securities [Member]
Platform Operator, Crypto Asset [Line Items]
Assets	14,734	20,140
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Platform Operator, Crypto Asset [Line Items]
Assets, Total
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member]
Platform Operator, Crypto Asset [Line Items]
Assets
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member]
Platform Operator, Crypto Asset [Line Items]
Assets
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Platform Operator, Crypto Asset [Line Items]
Assets, Total	29,934	28,611
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member]
Platform Operator, Crypto Asset [Line Items]
Assets	15,200	8,471
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member]
Platform Operator, Crypto Asset [Line Items]
Assets	14,734	20,140
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Platform Operator, Crypto Asset [Line Items]
Assets, Total
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Corporate Debt Securities [Member]
Platform Operator, Crypto Asset [Line Items]
Assets
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | US Treasury Securities [Member]
Platform Operator, Crypto Asset [Line Items]
Assets

SCHEDULE OF UNREALIZED GAIN OR

SCHEDULE OF UNREALIZED GAIN OR LOSS ON SHORT-TERM INVESTMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	$ 29,952	$ 28,585
Gross Unrealized Gains	1	27
Gross Unrealized Losses	(19)	(1)
Investment Securities Available-For-Sale	29,934	28,611
Corporate Debt Securities [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	15,210	8,466
Gross Unrealized Gains	1	6
Gross Unrealized Losses	(11)	(1)
Investment Securities Available-For-Sale	15,200	8,471
US Treasury Securities [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	14,742	20,119
Gross Unrealized Gains		21
Gross Unrealized Losses	(8)
Investment Securities Available-For-Sale	$ 14,734	$ 20,140

SCHEDULE OF MATURITY DATE OF AV

SCHEDULE OF MATURITY DATE OF AVAILABLE-FOR-SALE SECURITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Amortized Cost	$ 29,952	$ 28,585
Gross Unrealized Gains	1	27
Gross Unrealized Losses	(19)	(1)
Estimated Fair Value	29,934	28,611
Amortized Cost, Total	29,952	28,585
Estimated Fair Value, Total	$ 29,934	28,611
Corporate Debt and US Treasury Securities [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Gross Unrealized Gains		27
Gross Unrealized Losses		(1)
Estimated Fair Value		$ 28,611

SCHEDULE OF UNREALIZED LOSS ON

SCHEDULE OF UNREALIZED LOSS ON INVESTMENTS SECURITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule of Investments [Line Items]
Less than Twelve Months, Fair Value	$ 21,350	$ 2,974
Less than Twelve Months, Gross Unrealized Losses	(19)	(1)
Twelve Months or Greater, Fair Value
Twelve Months or Greater, Gross Unrealized Losses
Total, Fair Value	21,350	2,974
Total, Gross Unrealized Losses	(19)	(1)
Corporate Debt Securities [Member]
Schedule of Investments [Line Items]
Less than Twelve Months, Fair Value	10,795	1,488
Less than Twelve Months, Gross Unrealized Losses	(11)	(1)
Twelve Months or Greater, Fair Value
Twelve Months or Greater, Gross Unrealized Losses
Total, Fair Value	10,795	1,488
Total, Gross Unrealized Losses	(11)	(1)
US Treasury Securities [Member]
Schedule of Investments [Line Items]
Less than Twelve Months, Fair Value	10,555	1,486
Less than Twelve Months, Gross Unrealized Losses
Twelve Months or Greater, Fair Value
Twelve Months or Greater, Gross Unrealized Losses
Total, Fair Value	10,555	1,486
Total, Gross Unrealized Losses	$ (8)

SCHEDULE OF COMPONENTS OF INVEN

SCHEDULE OF COMPONENTS OF INVENTORY (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 1,995	$ 1,574
Work in process		305
Finished goods	2,208	1,995
Total inventory	$ 4,203	$ 3,874

SCHEDULE OF COMPONENTS OF PROPE

SCHEDULE OF COMPONENTS OF PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 27,648	$ 27,499
Less: Accumulated depreciation	(19,517)	(18,467)
Property and equipment, net	8,131	9,032
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	6,140	6,140
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,961	3,843
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	12,238	12,149
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,309	$ 5,367

SUMMARY OF COMPONENTS OF INTANG

SUMMARY OF COMPONENTS OF INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands			3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 31, 2023	[1]	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount			$ 20,198		$ 20,198		$ 20,198
Accumulated Amortization			4,090		4,090		2,963
Accumulated Amortization			3,027		3,027
Gross Carrying Amount			13,081		13,081		17,235
Acquired Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount			20,172		20,172		20,172
Accumulated Amortization			4,064		4,064		2,940
Accumulated Amortization					3,027
Gross Carrying Amount			13,081		$ 13,081		$ 17,232
Weighted Average Remaining Period (Years)	13 years				12 years		12 years
Backlog [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount			26		$ 26		$ 26
Accumulated Amortization			26		26		23
Accumulated Amortization
Gross Carrying Amount							$ 3
[1]During the three months ended June 30, 2024, the Company recognized a $ 3.0 Note 7. Financial Statement Components

SCHEDULE OF ESTIMATED FUTURE AM

SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE RELATED TO INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
2024 (remainder of the year)	$ 968
2025	1,501
2026	1,471
2027	829
Thereafter	8,312
Total	13,081	$ 17,235
Cost of Sales [Member]
2024 (remainder of the year)	723
2025	1,446
2026	1,446
2027	829
Thereafter	8,312
Total	12,756
Research and Development Expense [Member]
2024 (remainder of the year)	245
2025	55
2026	25
2027
Thereafter
Total	$ 325

FINANCIAL STATEMENT COMPONENT_2

FINANCIAL STATEMENT COMPONENTS (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Decrease in restricted cash	$ 73	$ 3,263	$ 73	$ 3,263	$ 3,263
Increased restricted cash current	1,000		1,000
Depreciation	600	500	1,100	1,700
Amortization expense	600	600	1,100	900
Impairment, fair value			4,500
Impairment loss on intangible assets	3,027		3,027
Impairment, intangible assets			1,400
Asset Management Arrangement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Decrease in restricted cash	$ 3,300		$ 3,300

SCHEDULE OF SHARE-BASED COMPENS

SCHEDULE OF SHARE-BASED COMPENSATION EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Share-based compensation expense	$ 3,353	$ 3,866	$ 7,096	$ 6,815
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Share-based compensation expense	1,252	1,486	2,596	2,244
Sales Marketing General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Share-based compensation expense	$ 2,101	$ 2,380	$ 4,500	$ 4,571

SCHEDULE OF OPTIONS ACTIVITY AN

SCHEDULE OF OPTIONS ACTIVITY AND POSITIONS (Details) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Options, Outstanding, Beginning Balance | shares	668
Option Weighted Average Exercise Price, Outstanding | $ / shares	$ 1.42
Option Weighted Average Remaining Contractual Term (years), Outstanding	4 years
Aggregate award, options, outstanding, intrinsic value, Outstanding | $	$ 108
Options, Exercisable Ending Balance | shares	668
Option Weighted Average Exercise Price, Exercisable | $ / shares	$ 1.42
Option Weighted Average Remaining Contractual Term (years), Exercisable	4 years
Option Aggregate award, options, outstanding, intrinsic value, Exercisable | $	$ 108

SCHEDULE OF ACTIVITY AND POSITI

SCHEDULE OF ACTIVITY AND POSITIONS WITH RESPECT TO RSUs AND PSUs (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Share-Based Payment Arrangement [Abstract]
Shares, Unvested, Beginning Balance | shares	9,983
Weighted average Price, Unvested, Beginning Balance | $ / shares	$ 3.09
Shares, Granted | shares	6,089
Weighted average Price , Granted | $ / shares	$ 1.40
Shares, Vested | shares	(2,786)
Weighted average Price , Vested | $ / shares	$ 5.11
Shares, Forfeited | shares	(823)
Weighted average Price , Forfeited | $ / shares	$ 2.71
Shares, Unvested, Ending Balance | shares	12,463
Weighted average Price, Unvested, Ending Balance | $ / shares	$ 1.85

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details Narrative) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares issued	6,089,000
Unrecognized share-based employee compensation | $	$ 0.8
Performance Shares [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Amortization period	1 year
Performance Shares [Member] | Share Based Payment Arrangement Non Executive Employees [Member] | Annual and Short Term Incentive Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares issued	3,955,000
Performance Shares [Member] | Share Based Payment Arrangement Non Executive Employees [Member] | New Hire Grants [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares issued	69,000
Performance Shares [Member] | Share Based Payment Arrangement Executive Employees [Member] | Annual and Short Term Incentive Awards [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares issued	2,065,000
Performance Shares [Member] | Share Based Payment Arrangement Executive [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized share-based employee compensation | $	$ 4
Amortization period	1 year 4 months 24 days
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized share-based employee compensation | $	$ 7.7
Amortization period	2 years 2 months 12 days

SCHEDULE OF COMPONENTS OF LEASE

SCHEDULE OF COMPONENTS OF LEASE EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases
Operating lease expense	$ 668	$ 592	$ 1,333	$ 1,282
Amortization of leased assets		6		12
Interest on lease liabilities
Total finance lease expense		6		12
Total lease expense	$ 668	$ 598	$ 1,333	$ 1,294

SCHEDULE OF CASH FLOW INFORMATI

SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Leases
Operating cash flows from operating leases	$ 1,299	$ 1,096
Operating cash flows from finance leases
Financing cash flows from finance leases		$ 13

SCHEDULE OF BALANCE SHEET INFOR

SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASES (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 12,348	$ 13,758
Current portion of operating lease liabilities	2,113	2,323
Operating lease liabilities, net of current portion	11,936	12,714
Total operating lease liabilities	14,049	15,037
Property and equipment, at cost	27,648	27,499
Accumulated depreciation	(19,517)	(18,467)
Property and equipment, net	$ 8,131	$ 9,032
Weighted average remaining lease term operating leases	8 years 1 month 6 days	8 years 4 months 24 days
Weighted average discount rate operating leases	4.60%	4.60%
Financial Lease [Member]
Lessee, Lease, Description [Line Items]
Property and equipment, at cost	$ 112	$ 112
Accumulated depreciation	(106)	(97)
Property and equipment, net	$ 6	$ 15

SCHEDULE OF MATURITIES OF LEASE

SCHEDULE OF MATURITIES OF LEASE LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases
Operating leases, 2024	$ 1,110
Operating leases, 2025	2,017
Operating leases, 2026	1,979
Operating leases, 2027	1,950
Thereafter	9,663
Operating leases, Total minimum lease payments	16,719
Less: Operating leases, amount representing interest	(2,670)
Operating leases, Present value of capital lease liabilities	$ 14,049	$ 15,037

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($) $ in Millions	1 Months Ended				6 Months Ended
	Jan. 31, 2023	Sep. 30, 2022	Apr. 30, 2022	Sep. 30, 2021	Jun. 30, 2024
Lessee, Lease, Description [Line Items]
Lessee finance lease description					Finance leases contain options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless the Company is reasonably certain to exercise the purchase option.
Proceeds from lease payment				$ 3
Lease expiration		expiration from April 2027 to April 2025	expiration of November 2027.	expires in December 2032, contains an option to extend the term for one ten-year renewal period.
Impairment expense		$ 0.1	$ 0.2
First Lease [Member]
Lessee, Lease, Description [Line Items]
Lease expiration	expiration date of December 2026 in November 2024.
Impairment expense	$ 0.1
Second Lease [Member]
Lessee, Lease, Description [Line Items]
Lease expiration	expired in August 2023
Third Lease [Member]
Lessee, Lease, Description [Line Items]
Lease expiration	expires in July 2024.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2025
Purchase commitment amount	$ 9.3
Forecast [Member]
Purchase commitment, remaining future payments		$ 5.2

COMMON STOCK (Details Narrative

COMMON STOCK (Details Narrative) - USD ($) shares in Thousands, $ in Thousands	1 Months Ended			3 Months Ended			6 Months Ended		12 Months Ended
	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2021	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share issued value				$ 5,539	$ 42,995		$ 26,099	$ 55,686
Proceeds from Issuance of Common Stock							26,109	55,866
June 2021 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share issued value						$ 12,500	$ 26,100		$ 81,800
Share issued						5,000	15,000		8,300
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share issued value				$ 5	$ 11		$ 15	$ 16
Share issued				4,551	10,878		14,977	15,938
ATM Equity Offering Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share issued value							$ 122,600
ATM Equity Offering Agreement [Member] | Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share issued value							$ 122,600
ATM Equity Offering Agreement [Member] | Craig Hallum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share issued value	$ 150,000	$ 45,000	$ 140,000
ATM Equity Offering Agreement [Member] | Craig Hallum [Member] | Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share issued value	$ 150,000	$ 45,000	$ 140,000
Sales Agreement [Member] | Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Sale of Stock, Number of Shares Issued in Transaction								10,900
Proceeds from Issuance of Common Stock								$ 43,900

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Effective Income Tax Rate Reconciliation [Line Items]
Income tax expense (benefit)	$ 84	$ 279	$ 318	$ 460
Unrecognized tax benefits	0		0
Foreign Tax Jurisdiction [Member]
Effective Income Tax Rate Reconciliation [Line Items]
Income tax expense (benefit)	$ 100	$ 300	$ 300	$ 500

RESTRUCTURING CHARGES (Details

RESTRUCTURING CHARGES (Details Narrative) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Restructuring charges	$ 5.7
Accrued Liabilities [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Severance and benefit costs	$ 2.2