Quarterly report pursuant to Section 13 or 15(d)

Accrued Liabilities (Tables)

v3.24.1.1.u2
Accrued Liabilities (Tables)
3 Months Ended
Mar. 31, 2024
Payables and Accruals [Abstract]  
Components of Accrued Liabilities

Accrued liabilities are comprised of the following (in thousands):

 

 

 

March 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Payroll and benefits

 

$

3,282

 

 

$

3,343

 

Warranty accrual, current portion

 

 

1,293

 

 

 

1,321

 

Operating lease liability

 

 

904

 

 

 

888

 

Accrued professional services

 

 

731

 

 

 

422

 

Taxes

 

 

383

 

 

 

452

 

Accrued insurance premium

 

 

319

 

 

 

473

 

Other

 

 

677

 

 

 

619

 

Accrued liabilities

 

$

7,589

 

 

$

7,518

 

Changes in Initial Product Warranty Accrual and Expenses Under Initial and Extended Warranties

Changes in the initial product warranty accrual and the expenses incurred under the Company’s initial and extended warranties are included within accrued liabilities and were as follows (in thousands):

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2024

 

 

2023

 

Balance, beginning of period

 

$

1,914

 

 

$

1,653

 

Provision for estimated warranty cost

 

 

679

 

 

 

1,158

 

Warranty expenditures

 

 

(702

)

 

 

(956

)

Balance, end of period

 

 

1,891

 

 

 

1,855

 

Less: long-term portion of warranty accrual

 

 

598

 

 

 

426

 

Current portion of warranty accrual

 

$

1,293

 

 

$

1,429