BIOLASE, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Supplementary Balance Sheet Information

Supplementary Balance Sheet Information

12 Months Ended

Dec. 31, 2018

Balance Sheet Related Disclosures [Abstract]

Supplemental Balance Sheet Disclosures

NOTE 3 — SUPPLEMENTARY BALANCE SHEET INFORMATION

Accounts Receivable, net:

	December 31,
(in thousands):	2018		2017
Trade	$	10,990	$	10,047
Royalties		71		71
Other		51		6
Total receivables, net	$	11,112	$	10,124

Accounts receivable is net of allowances for doubtful accounts of approximately $0.9 million and $0.8 million and sales returns of approximately $0.2 and $0.2 million at December 31, 2018 and 2017, respectively.

Inventory:

	December 31,
(in thousands):	2018		2017
Raw materials	$	3,590	$	3,953
Work-in-process		1,435		1,162
Finished goods		7,223		7,183
Inventory	$	12,248	$	12,298

Inventory includes write-downs for excess and obsolete inventory totaling approximately $1.1 million and $1.9 million at December 31, 2018 and 2017, respectively.

Property, Plant, and Equipment, net:

	December 31,
(in thousands):	2018			2017
Building	$	213		$	220
Leasehold improvements		2,004			2,005
Equipment and computers		7,277			6,883
Furniture and fixtures		634			634
Construction in progress		25			1,182
Total property, plant, and equipment before depreciation and land		10,153			10,924
Less: accumulated depreciation		(8,344	)		(7,426	)
Total property, plant, and equipment, net before land		1,809			3,498
Land		166			176
Property, plant, and equipment, net	$	1,975		$	3,674

The cost basis of assets held under capital lease was $0.4 million, which was fully depreciated as of December 31, 2018.

During 2018 and 2017, the Company recognized a non-cash, pre-tax charge related to the disposal of internally developed software of $1.2 million and $0.5 million, respectively, primarily due to the decision to cancel future deployments of a global enterprise resource planning system and certain other web-based tools originally intended to customize such systems.

Accrued Liabilities:

	December 31,
	2018		2017
Payroll and benefits	$	2,400	$	2,115
Warranty accrual, current portion		861		1,120
Taxes		714		544
Accrued professional services		1,044		584
Accrued insurance premium		328		870
Customer deposits		21		27
Patent litigation settlement		1,500		—
Other		670		376
Accrued liabilities	$	7,538	$	5,636