Quarterly report pursuant to Section 13 or 15(d)

Inventory

v3.24.2.u1
Inventory
6 Months Ended
Jun. 30, 2024
Inventory Disclosure [Abstract]  
Inventory

Note 6. Inventory

Inventory consists of the following:

 

(in thousands)

 

June 30,
2024

 

 

December 31,
2023

 

Raw material

 

$

3,416

 

 

$

4,324

 

Work in process

 

 

543

 

 

 

555

 

Finished goods

 

 

18,598

 

 

 

21,894

 

Total inventory

 

$

22,557

 

 

$

26,773

 

 

The Company maintained reserves for obsolete and excess inventory of $2.5 million and $1.8 million as of June 30, 2024 and December 31, 2023, respectively. As of June 30, 2024, obsolete and excess inventory related to finished goods was $1.9 million and $0.6 million was related to raw materials. As of December 31, 2023, the obsolete and excess inventory reserve related to finished

goods was $1.3 million and $0.5 million was related to raw materials. The reserve for obsolete and excess inventories was recorded within cost of revenue in the condensed consolidated statements of operations.