Note 5 - Inventories

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Inventory Disclosure [Text Block]

5.  Inventories

Inventories consist of the following:

	September 30,		December 31,
	2024		2023
Raw materials	$	16,401	$	15,507
Work-in-process		16,423		17,002
Finished goods		17,528		32,084
Total	$	50,352	$	64,593
Inventories	$	39,629	$	46,386
Other long-term assets		10,723		18,207
Total	$	50,352	$	64,593

Inventories are stated net of inventory reserves of approximately $6.5 million and $11.7 million, as of September 30, 2024 and December 31, 2023, respectively. As described in more detail in Note 15, the Company sold its Arthrosurface business on October 31, 2024. As a result of this transaction, the Company adjusted the carrying value of the inventories related to the Arthrosurface business to the net realizable value. Accordingly, the company recorded a write-down of inventories of $22.7 million which was charged to Cost of Goods Sold during the three-month and nine-month periods ended September 30, 2024.