Quarterly report pursuant to Section 13 or 15(d)

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

v3.23.1
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
3 Months Ended
Mar. 31, 2023
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):

    

March 31, 

December 31, 

    

2023

2022

Compensation and benefits related

$

8,396

$

8,058

Warranty reserve

4,385

4,301

Current portion of contingent consideration

1,754

2,587

Current portion of acquisition consideration

1,603

1,750

Franchise and royalty fees

1,946

1,448

Inventory purchases

 

1,296

 

925

Professional services

804

917

2027 Notes Interest

3,267

901

Commissions

485

897

Income tax payable

679

761

Sales and use and franchise taxes

449

286

Other

 

2,962

 

3,892

Total accrued expenses and other current liabilities

$

28,026

$

26,723

The Company recorded warranty reserve as of March 31, 2023 and December 31, 2022, respectively, as follows (in thousands).

    

March 31, 

December 31, 

2023

2022

Warranty reserve, at the beginning of the period

$

4,301

$

4,048

Warranty reserve assumed in acquisition

4

Additions to warranty reserve

 

252

 

4,484

Claims fulfilled

 

(172)

 

(4,231)

Warranty reserve, at the end of the period

$

4,385

$

4,301