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

5. Inventories

Inventories, net of related reserves for excess and obsolescence, consisted of the following:

 

 

 

September 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Raw materials

 

$

13,015

 

 

$

12,988

 

Work in process

 

 

1,024

 

 

 

810

 

Finished goods

 

 

12,997

 

 

 

14,455

 

 

 

$

27,036

 

 

$

28,253

 

 

Raw materials include various components used in the Company’s manufacturing process. The Company’s excess and obsolete inventory review process includes analysis of sales forecasts and historical sales as compared to inventory level, and working with operations to maximize recovery of excess inventory. During the three and nine months ended September 30, 2024 and 2023, the Company charged $1,415, $5,884, $887 and $4,351, respectively, for inventory excess and obsolescence to cost of goods sold within the condensed consolidated statements of operations and comprehensive income (loss).