Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses

v3.22.1
Accrued Expenses
3 Months Ended
Mar. 31, 2022
Payables and Accruals [Abstract]  
Accrued Expenses

6. ACCRUED EXPENSES

Accrued expenses consist of the following:

 

 

 

March 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Accrued compensation

 

$

2,458

 

 

$

8,562

 

Accrued sales taxes payable

 

 

937

 

 

 

372

 

Accrued professional services

 

 

1,149

 

 

 

1,742

 

Accrued materials

 

 

8,174

 

 

 

3,094

 

Accrued other

 

 

2,034

 

 

 

1,437

 

Accrued warranty

 

 

380

 

 

 

452

 

Accrued expenses

 

$

15,132

 

 

$

15,659

 

 

Accrued Warranty

The Company provides a limited warranty generally for one year. Estimated warranty obligations are recorded as an expense upon customer acceptance of related products. Factors that affect the estimated warranty liability include number of products accepted, historical and anticipated rates of warranty claims, cost per claim, and vendor-supported warranty programs. The Company periodically assesses the adequacy of our recorded warranty liabilities and adjusts the amounts as necessary. The amount of liability recorded is equal to the estimated costs to repair or otherwise satisfy claims made by customers.

 

Changes in our product warranty consist of the following:

 

 

 

March 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Beginning balance

 

$

452

 

 

$

41

 

Accrual (reversal) for warranty expense

 

 

(94

)

 

 

(58

)

Warranty costs incurred during period

 

 

22

 

 

 

469

 

Ending balance

 

$

380

 

 

$

452