Inventory

12 Months Ended

Dec. 31, 2023

Inventory, net consists of the following (in thousands):


	December 31,
	2023		2022
Raw materials	$	57,608	$	73,970
Work in process	1,111		1,023
Finished goods	654		785
Allowance for obsolete or slow-moving inventory	(6,569)		(2,924)
Inventory, net	$	52,804	$	72,854

The following table presents the change in the allowance for obsolete or slow-moving inventory balances (in thousands):


	December 31,
	2023		2022
Allowance balance, beginning of year	$	(2,924)	$	(897)
Provision	(5,041)		(2,073)
Write offs	1,396		46
Allowance balance, end of year	$	(6,569)	$	(2,924)