Desktop Metal, Inc. Annual report pursuant to Section 13 and 15(d)

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2023

The following table summarizes the Company’s components of accrued expenses and other current liabilities (in thousands):


	December 31,
	2023		2022
Compensation and benefits related	$	9,052	$	8,058
Warranty reserve		4,602		4,301
Current portion of contingent consideration		—		2,587
Current portion of acquisition consideration		358		1,750
Franchise and royalty fees		2,267		1,448
Inventory purchases		1,372		925
Professional services		890		917
2027 Notes Interest		882		901
Commissions		816		897
Income tax payable		1,316		761
Sales and use and franchise taxes		573		286
Other		4,957		3,892
Total accrued expenses and other current liabilities	$	27,085	$	26,723

The Company recorded warranty reserve for the years ended December 31, 2023, 2022 and 2021, respectively, as follows (in thousands):


	Years Ended December 31,
	2023		2022		2021
Warranty reserve, at the beginning of the period	$	4,301	$	4,048	$	1,553
Warranty reserve assumed in acquisition		—		—		1,389
Additions to warranty reserve		4,174		4,484		2,576
Claims fulfilled		(3,873)		(4,231)		(1,470)
Warranty reserve, at the end of the period	$	4,602	$	4,301	$	4,048