Quarterly report pursuant to Section 13 or 15(d)

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

v3.22.2
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
6 Months Ended
Jun. 30, 2022
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES  
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

13. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

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

    

June 30, 

December 31, 

    

2022

2021

Compensation and benefits related

$

9,913

$

17,124

Professional services

2,112

2,659

Warranty reserve

3,863

4,048

Franchise and royalty fees

2,075

2,035

Current portion of contingent consideration

2,999

1,471

2027 Notes Interest

947

Inventory purchases

 

711

 

1,072

Commissions

1,835

849

Income tax payable

279

233

Sales and use and franchise taxes

102

274

Current portion of acquisition consideration

500

Other

 

3,818

 

4,064

Total accrued expenses and other current liabilities

$

29,154

$

33,829

As of June 30, 2022, and December 31, 2021, the Company has recorded $3.9 million and $4.0 million, respectively, of warranty reserve within accrued expenses and other current liabilities in the condensed consolidated balance sheets. Warranty reserve consisted of the following (in thousands):

    

June 30, 

December 31, 

2022

2021

Warranty reserve, at the beginning of the period

$

4,048

$

1,553

Warranty reserve assumed in acquisition

1,389

Additions to warranty reserve

 

773

 

2,576

Claims fulfilled

 

(958)

 

(1,470)

Warranty reserve, at the end of the period

$

3,863

$

4,048