Quarterly report pursuant to Section 13 or 15(d)

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

v3.23.2
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
6 Months Ended
Jun. 30, 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):

    

June 30, 

December 31, 

    

2023

2022

Compensation and benefits related

$

7,928

$

8,058

Professional services

4,792

917

Warranty reserve

4,163

4,301

Franchise and royalty fees

2,066

1,448

Inventory purchases

 

1,359

 

925

Current portion of acquisition consideration

1,250

1,750

2027 Notes Interest

901

901

Income tax payable

700

761

Commissions

522

897

Sales and use and franchise taxes

484

286

Current portion of contingent consideration

197

2,587

Other

 

4,362

 

3,892

Total accrued expenses and other current liabilities

$

28,724

$

26,723

The Company recorded warranty reserve as of June 30, 2023 and December 31, 2022, respectively, as follows (in thousands).

    

June 30, 

December 31, 

2023

2022

Warranty reserve, at the beginning of the period

$

4,301

$

4,048

Additions to warranty reserve

 

1,384

 

4,484

Claims fulfilled

 

(1,522)

 

(4,231)

Warranty reserve, at the end of the period

$

4,163

$

4,301