Annual report pursuant to Section 13 and 15(d)

Inventory

v3.24.0.1
Inventory
12 Months Ended
Dec. 31, 2023
Inventory Disclosure [Abstract]  
Inventory

Note 6. Inventory

Inventory consists of the following:

 

(in thousands)

 

December 31,
2023

 

 

December 31,
2022

 

Raw material

 

$

4,324

 

 

$

4,582

 

Work in process

 

 

555

 

 

 

175

 

Finished goods

 

 

21,894

 

 

 

21,652

 

Total inventory

 

$

26,773

 

 

$

26,409

 

 

The Company maintained a provision for excess and obsolete inventory of $1.8 million and $1.5 million as of December 31, 2023 and 2022, respectively. As of December 31, 2023, excess and obsolete inventory impairment related to finished goods is $1.3 million and $0.5 million is related to raw materials. As of December 31, 2022, excess and obsolete inventory impairment related to finished goods is $1.3 million and $0.2 million is related to raw materials. The impairment of excess and obsolete inventories is recorded within cost of revenue in the consolidated statements of operations.