Inventory

3 Months Ended

Mar. 31, 2022

Inventory Disclosure [Abstract]

Inventory

Note 3. Inventory

Inventory, net of allowance, consisted of the following as of the dates indicated:

	March 31,			December 31,
	2022			2021
Raw materials	$	1,952,440		$	1,964,407
Work in process		264,553			312,803
Finished goods		622,206			447,145
Total gross inventory		2,839,199			2,724,355
Less inventory allowance		(79,339	)		(25,306	)
	$	2,759,860		$	2,699,049

Inventory of $2.0 million and $0.7 million was included in inventory – current and other non-current assets, respectively, in the condensed consolidated balance sheets as of both March 31, 2022 and December 31, 2021.

For the three months ended March 31, 2022, the Company recorded a specific inventory reserve of $54,033 to adjust estimated inventory value for the projected expiration of a specific inventory item, in addition to adjustments to the provision for excess inventory of $5,320. Adjustments to the provision for excess inventory of $4,836 were recorded for the three months ended March 31, 2021. These adjustments for estimated shrinkage, obsolescence and excess inventory have been included in cost of product and product-related services revenue in the accompanying condensed consolidated statements of operations.

HTG EdgeSeq instruments at customer locations under evaluation agreements are included in finished goods inventory. Finished goods inventory under evaluation was $0.2 million as of both March 31, 2022 and December 31, 2021.