Quarterly report pursuant to Section 13 or 15(d)

Inventory

v3.24.3
Inventory
9 Months Ended
Sep. 30, 2024
Inventory Disclosure [Abstract]  
Inventory

Note 6. Inventory

Inventory consists of the following:

 

(in thousands)

 

September 30,
2024

 

 

December 31,
2023

 

Raw material

 

$

3,744

 

 

$

4,324

 

Work in process

 

 

471

 

 

 

555

 

Finished goods

 

 

17,457

 

 

 

21,894

 

Total inventory

 

$

21,672

 

 

$

26,773

 

 

The Company maintained reserves for obsolete and excess inventory of $3.0 million and $1.8 million as of September 30, 2024 and December 31, 2023, respectively. As of September 30, 2024, obsolete and excess inventory related to finished goods was $2.2 million and $0.8 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.