Inventories

6 Months Ended

Jun. 30, 2024

Inventories

Inventories

Note 5. Inventories

The following table summarizes the Company’s inventories (in thousands):

	June 30,		December 31,
	2024		2023
Raw materials	$	49,572	$	49,366
Work-in-progress		2,951		3,384
Finished goods		21,652		20,272
Total inventories	$	74,175	$	73,022

Work-in-progress represents inventory items in intermediate stages of production by third-party manufacturers. For the three and six months ended June 30, 2024 and 2023, net realizable value inventory adjustments and excess and obsolete

inventory charges were not significant and were recognized in product cost of revenue. See Note 12 “Commitments and Contingencies” for additional information regarding the Company’s inventory supply arrangements.