Summary of Balance Sheet Components |
Details of certain balance sheet items are presented below (in thousands):
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June 30, 2024 |
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December 31, 2023 |
Inventories: |
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Raw materials and manufacturing supplies |
$ |
76,029 |
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$ |
77,657 |
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Work in process |
328 |
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|
224 |
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Finished goods |
65,815 |
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|
67,771 |
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Total inventories |
$ |
142,172 |
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$ |
145,652 |
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Prepaid Expenses and Other Current Assets: |
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Advance to vendors |
$ |
3,064 |
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$ |
3,197 |
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Prepaid insurance |
2,328 |
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5,567 |
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Prepaid value-added taxes |
1,616 |
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|
897 |
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Short-term investments |
— |
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5,519 |
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Income tax receivable |
2,173 |
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|
1,714 |
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Other |
4,481 |
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|
1,599 |
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Total prepaid expenses and other current assets |
$ |
13,662 |
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$ |
18,493 |
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Property, Plant and Equipment: |
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Buildings |
$ |
3,947 |
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$ |
3,986 |
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Leasehold improvements |
2,759 |
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2,743 |
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Furniture and fixtures |
513 |
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516 |
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Machinery and equipment |
67,765 |
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63,202 |
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Vehicles |
4,066 |
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4,114 |
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Construction in progress |
4,502 |
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4,695 |
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Total property, plant and equipment, gross |
83,552 |
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79,256 |
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Less: Accumulated depreciation |
(24,183) |
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(19,854) |
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Total property, plant and equipment, net |
$ |
59,369 |
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$ |
59,402 |
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Accrued Expenses and Other Current Liabilities: |
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Accrued bonus |
$ |
1,858 |
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$ |
3,483 |
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Accrued salaries |
1,660 |
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2,336 |
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Accrued employee benefits |
1,424 |
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1,185 |
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Accrued interest |
7,036 |
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8,342 |
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Accrued purchases |
6,900 |
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2,072 |
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Accrued income taxes |
17,189 |
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|
7,100 |
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Operating lease liabilities |
2,226 |
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2,146 |
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Finance lease liabilities |
767 |
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|
600 |
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Other |
3,931 |
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3,446 |
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Total accrued expenses and other current liabilities |
$ |
42,991 |
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$ |
30,710 |
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