Inventories

9 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

Inventories

5. Inventories

Inventories consist of the following (in thousands):

	September 30, 2024			December 31, 2023
Raw materials	$	5,974		$	5,918
Work in process		893			1,034
Finished goods		4,950			3,413
Reserve for excess and obsolescence		(2,808	)		(1,939	)
Total inventory	$	9,009		$	8,426

At the closing of the acquisition, GAAP accounting required us to record all acquired inventory at its market value.

The Company had approximately $2.8 million in reserve for excess and obsolescence. The reserve includes the fair value of slow moving acquired inventory and the value of Niobe Systems and related raw materials and spare parts.