Quarterly report pursuant to Section 13 or 15(d)

Inventory

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Inventory
3 Months Ended
Mar. 31, 2024
Inventory Disclosure [Abstract]  
Inventory

Note 6. Inventory

Inventory consists of the following:

 

(in thousands)

 

March 31,
2024

 

 

December 31,
2023

 

Raw material

 

$

3,571

 

 

$

4,324

 

Work in process

 

 

536

 

 

 

555

 

Finished goods

 

 

19,685

 

 

 

21,894

 

Total inventory

 

$

23,792

 

 

$

26,773

 

 

The Company maintained reserves for obsolete and excess inventory of $2.1 million and $1.8 million as of March 31, 2024 and December 31, 2023, respectively. As of March 31, 2024, obsolete and excess inventory related to finished goods is $1.5 million and $0.6 million is related to raw materials. As of December 31, 2023, the obsolete and excess inventory reserve related to finished goods is $1.3 million and $0.5 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.