Annual report pursuant to Section 13 and 15(d)

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

v3.22.4
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
12 Months Ended
Dec. 31, 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):

    

December 31, 

    

2022

    

2021

Compensation and benefits related

$

8,058

$

17,124

Warranty reserve

4,301

4,048

Current portion of contingent consideration

2,587

1,471

Current portion of acquisition consideration

1,750

Franchise and royalty fees

1,448

2,035

Inventory purchases

925

 

1,072

Professional services

917

2,659

2027 Notes Interest

901

Commissions

897

849

Income tax payable

761

233

Sales and use and franchise taxes

286

274

Other

 

3,892

 

4,064

Total accrued expenses and other current liabilities

$

26,723

$

33,829

The Company recorded warranty reserve for the years ended December 31, 2022, 2021 and 2020, respectively, as follows (in thousands):

Years Ended December 31, 

2022

2021

    

2020

Warranty reserve, at the beginning of the period

$

4,048

$

1,553

$

1,491

Warranty reserve assumed in acquisition

1,389

Additions to warranty reserve

 

4,484

 

2,576

 

346

Claims fulfilled

 

(4,231)

 

(1,470)

 

(284)

Warranty reserve, at the end of the period

$

4,301

$

4,048

$

1,553