Quarterly report pursuant to Section 13 or 15(d)

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

v3.24.2
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
6 Months Ended
Jun. 30, 2024
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, 

    

2024

2023

Compensation and benefits related

$

6,029

$

9,052

Warranty reserve

4,821

4,602

Current portion of acquisition consideration

348

358

Franchise and royalty fees

 

2,643

 

2,267

Inventory purchases

1,268

1,372

Professional services

3,428

890

2027 Notes Interest

863

882

Commissions

542

816

Income tax payable

1,536

1,316

Sales and use and Franchise taxes

307

573

Other

3,106

4,957

Total accrued expenses and other current liabilities

$

24,891

$

27,085

The Company recorded warranty reserve as of June 30, 2024 and December 31, 2023, respectively, as follows (in thousands).

    

June 30, 

December 31, 

2024

2023

Warranty reserve, at the beginning of the period

$

4,602

$

4,301

Additions to warranty reserve

 

562

 

4,174

Claims fulfilled

 

(343)

 

(3,873)

Warranty reserve, at the end of the period

$

4,821

$

4,602