INVENTORIES

9 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 5: INVENTORIES

Inventories consist of:

	September 30, 2024		December 31, 2023
Raw materials	$	1,366	$	2,351
Work-in-process		661		1,248
Finished goods		531		855
Total	$	2,558	$	4,454

CVD EQUIPMENT CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

(Unaudited)

NOTE 5: INVENTORIES (continued)

Included in our inventories are finished goods and raw materials related to PVT 150 systems that were purchased and built, respectively, in anticipation of future orders. During the three months ended September 30, 2024, the Company recorded a non-cash charge to reduce the net realizable value of such inventory by approximately $1.0 million based on its assessment of the current market for silicon carbide equipment.

As of September 30, 2024, the net amount of PVT 150 systems inventory is approximately $0.7 million. If future PVT 150 orders do not materialize and if the Company is not otherwise able to sell this inventory, the Company could incur additional charges to further reduce the carrying value of such inventory to net realizable value. Such charges may be material to the Company’s financial position and future results of operations.