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Selected Balance Sheet Information

9 Months Ended

Sep. 30, 2024

3.	Selected balance sheet information

Inventory consists of the following at:


	September 30,		December 31,
(in thousands)	2024		2023
Raw material	$	6,531	$	4,714
Work-in-process		280		654
Finished goods		5,081		5,615
	$	11,892	$	10,983

Property and equipment, net consists of the following at:


	September 30,		December 31,
(in thousands)	2024		2023
Office furniture and equipment	$	489	$	402
Lab equipment		2,835		2,721
Computer equipment and software		972		776
Leasehold improvements		543		98
Capital equipment in process		1,021		554
		5,860		4,551
Less: Accumulated depreciation and amortization		3,229		2,788
	$	2,631	$	1,763

Depreciation is determined using the straight-line method over the estimated useful lives of the respective assets, generally three to five years. Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or the term of the lease. Depreciation expense was $169,000 and $137,000 for the three months ended September 30, 2024 and 2023, respectively, and $441,000 and $393,000 for the nine months ended September 30, 2024 and 2023, respectively.

Accrued expenses consist of the following at:


	September 30,		December 31,
(in thousands)	2024		2023
Bonuses	$	2,982	$	3,335
Paid time off		931		770
401(k) match		876		—
Customer rebates		633		411
Accrued interest payable		276		220
Operating lease liability, current portion		275		231
Employee stock purchase plan		274		—
Clinical trial and other professional fees		205		277
Taxes		167		125
Other		1,052		611
	$	7,671	$	5,980