Annual report pursuant to Section 13 and 15(d)

INVENTORY

v3.24.1
INVENTORY
12 Months Ended
Dec. 31, 2023
INVENTORY  
Inventory

3. INVENTORY

 

Inventory, net was comprised of the following items:

 

 

 

December 31,

 

 

December 31,

 

(in thousands)

 

2023

 

 

2022

 

Raw materials

 

$ 1,400

 

 

$ 7,431

 

Work in process

 

 

307

 

 

 

940

 

Finished goods

 

 

3,053

 

 

 

2,408

 

Total inventory

 

$ 4,760

 

 

$ 10,779

 

 

As a result of the Zabala lease termination, the Company wrote off $2,607 of plant inventory that was in the facility as of the end of the year, which was recorded in cost of goods sold.

 

The Company recorded an inventory reserve of $1,780 and $1,492 for the year ended December 31, 2023 and 2022, respectively.