Quarterly report pursuant to Section 13 or 15(d)

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

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

    

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