Annual report [Section 13 and 15(d), not S-K Item 405]

Inventory

v3.25.1
Inventory
12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
Inventory

Note 6. Inventory

Inventory consists of the following:

 

(in thousands)

 

December 31,
2024

 

 

December 31,
2023

 

Raw material

 

$

2,766

 

 

$

4,324

 

Work in process

 

 

1,627

 

 

 

555

 

Finished goods

 

 

17,969

 

 

 

21,894

 

Total inventory

 

$

22,362

 

 

$

26,773

 

 

The Company maintained a provision for excess and obsolete inventory of $3.1 million and $1.8 million as of December 31, 2024 and 2023, respectively. As of December 31, 2024, excess and obsolete inventory impairment related to finished goods is $2.6 million and $0.5 million is related to raw materials. 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. The impairment of excess and obsolete inventories is recorded within cost of revenue in the consolidated statements of operations.