Quarterly report pursuant to Section 13 or 15(d)

Inventory

v3.23.3
Inventory
 9 Months Ended
Sep. 30, 2023
Inventory Disclosure [Abstract]  
Inventory

Note 6. Inventory

Inventory consists of the following:

 

(in thousands)

 

September 30,
2023

 

 

December 31,
2022

 

Raw material

 

$

3,172

 

 

$

4,582

 

Work in process

 

 

1,084

 

 

 

175

 

Finished goods

 

 

24,464

 

 

 

21,652

 

Total inventory

 

$

28,720

 

 

$

26,409

 

 

The Company maintained reserves for obsolete and excess inventory of $1.8 million and $1.5 million as of September 30, 2023 and December 31, 2022, respectively. As of September 30, 2023, obsolete and excess inventory related to finished goods is $1.4 million and $0.4 million is related to raw materials. As of December 31, 2022, the obsolete and excess inventory reserve related to

finished goods is $1.3 million and $0.2 million is related to raw materials. The reserve for obsolete and excess inventories is recorded within cost of revenue in the condensed consolidated statements of operations.