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

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

3 Months Ended

Mar. 31, 2024

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,
	2024		2023
Compensation and benefits related	$	7,249	$	9,052
Warranty reserve		4,650		4,602
Current portion of acquisition consideration		350		358
Franchise and royalty fees		2,433		2,267
Inventory purchases		866		1,372
Professional services		1,316		890
2027 Notes Interest		2,588		882
Commissions		510		816
Income tax payable		1,253		1,316
Sales and use and Franchise taxes		649		573
Other		3,072		4,957
Total accrued expenses and other current liabilities	$	24,936	$	27,085

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


	March 31,		December 31,
	2024		2023
Warranty reserve, at the beginning of the period	$	4,602	$	4,301
Additions to warranty reserve		164		4,174
Claims fulfilled		(116)		(3,873)
Warranty reserve, at the end of the period	$	4,650	$	4,602