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Selected Balance Sheet Information

12 Months Ended

Dec. 31, 2024

3.	Selected balance sheet information

Inventory consists of the following at:


	December 31,		December 31,
(in thousands)	2024		2023
Raw material	$	6,857	$	4,714
Work-in-process		353		654
Finished goods		4,897		5,615
	$	12,107	$	10,983

Property and equipment, net consists of the following at:


	December 31,		December 31,
(in thousands)	2024		2023
Office furniture and equipment	$	512	$	402
Lab equipment		3,144		2,721
Computer equipment and software		994		776
Leasehold improvements		542		98
Capital equipment in process		720		554
		5,912		4,551
Less: Accumulated depreciation and amortization		3,407		2,788
	$	2,505	$	1,763

Depreciation is determined using the straight-line method over the estimated useful lives of the respective assets, generally three to five years. Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or the term of the lease. Depreciation expense was $0.6 million and $0.5 million for the years ended December 31, 2024 and 2023, respectively.

Accrued expenses consist of the following at:


	December 31,		December 31,
(in thousands)	2024		2023
Bonuses	$	3,621	$	3,335
401(k) employer match		1,106		—
Paid time off		947		770
Customer rebates		592		411
Accrued interest payable		437		220
Operating lease liability, current portion		282		231
Clinical trial and other professional fees		182		277
Taxes		135		125
Other		878		611
	$	8,180	$	5,980