XML 22 R14.htm IDEA: XBRL DOCUMENT v3.24.2
Inventories
6 Months Ended
Jun. 30, 2024
Inventory Disclosure [Abstract]  
Inventories

5. Inventories

Inventories as of June 30, 2024 and December 31, 2023 consisted of the following:

(in thousands)

 

June 30, 2024

 

 

December 31, 2023

 

Raw materials

 

$

27,869

 

 

$

25,819

 

Work in process

 

 

11,732

 

 

 

9,710

 

Finished goods

 

 

2,905

 

 

 

2,368

 

Obsolescence allowance

 

 

(4,031

)

 

 

(3,808

)

Total inventories

 

$

38,475

 

 

$

34,089

 

Amounts credited to the allowance for obsolete inventory and charged to cost of sales amounted to $0.2 million and $0.4 million for the three months ended June 30, 2024 and 2023, respectively, and $0.7 million and $0.6 million for the six months ended June 30, 2024 and 2023, respectively.