| 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 |
|