Inventories

9 Months Ended

Sep. 30, 2022

Inventories

Inventories

Note 6. Inventories

A summary of inventories is as follows as of September 30, 2022 and December 31, 2021 (in thousands):

	September 30,		December 31,
	2022		2021
Raw materials	$	38,846		19,853
Work-in-progress		2,355		1,122
Finished goods		16,463		15,268
Total inventories	$	57,664	$	36,243

Work-in-progress represents inventory items in intermediate stages of production by third-party manufacturers. For the three and nine months ended September 30, 2022, net realizable value inventory adjustments and excess and obsolete inventory charges were not significant and were recognized in product cost of revenue. See Note 15 “Commitments and Contingencies” for additional information regarding the Company’s inventory supply arrangements.