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Inventory
9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Inventory Disclosure [Abstract]    
Inventory

4. Inventory

 

The Company’s major classes of inventory were as follows:

 

   September 30,
2024
   December 31,
2023
 
Raw materials  $42   $3,081 
Work in progress   10,284    10,696 
Finished goods   8,720    10,922 
Inventory, gross   19,046    24,699 
Less: inventory reserves   (2,239)   (2,289)
Inventory, net  $16,807   $22,410 
Balance Sheet Classification:          
Inventory  $3,963   $5,753 
Inventory, net of current portion   12,844    16,657 
Inventory, net  $16,807   $22,410 

 

Inventory, net of current portion includes inventory expected to remain on-hand beyond one year from each balance sheet date presented.

 

4. Inventory

 

The Company’s major classes of inventories were as follows:

 

   2023   2022 
   December 31, 
   2023   2022 
Raw materials  $3,081   $7,719 
Work in progress   10,696    12,381 
Finished goods   10,922    9,256 
Inventory, gross   24,699    29,356 
Less: inventory reserves   (2,289)   (1,099)
Inventory, net  $22,410   $28,257 
Balance Sheet Classification:          
Inventory   5,753    5,308 
Inventory, net of current portion   16,657    22,949 
Inventory, net  $22,410   $28,257 

 

Inventory, net of current portion includes inventory expected to remain on-hand beyond one year from each balance sheet date presented.

 

The Company recognized a $5,384 inventory impairment charge during the year ended December 31, 2023 in the consolidated statements of operations due to lower of cost or market adjustments of $2,129 for finished goods and $3,255 for work in progress. No inventory impairment was recognized during the year ended December 31, 2022.

 

A schedule of the activity in the inventory reserves is as follows:

 

Balance at January 1, 2022  $48 
Additions for obsolete inventory   1,051 
Balance at December 31, 2022   1,099 
Additions for obsolete inventory   7,627 
Write-offs   (6,437)
Balance at December 31, 2023  $2,289