Desktop Metal, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

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