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Accrued Expenses (Tables)
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [Abstract]  
Summary of Accrued Expenses

Accrued expenses consisted of the following:

 

 

December 31,

 

(table only in thousands)

 

2024

 

 

2023

 

Compensation and related benefits

 

$

12,274

 

 

$

11,278

 

Accrued warranty

 

 

4,558

 

 

 

5,105

 

Contract liability

 

 

9,746

 

 

 

7,875

 

Short-term operating lease liability

 

 

4,262

 

 

 

4,278

 

Other

 

 

16,688

 

 

 

15,765

 

Total accrued expenses

 

$

47,528

 

 

$

44,301

 
Summary of Activity of Current Portion of Earnout Liability

The activity in the Company’s earnout liability consisted of the following:

 

 

December 31,

 

(table only in thousands)

 

2024

 

 

2023

 

Earnout accrued at beginning of year

 

$

2,200

 

 

$

1,200

 

Fair value of earnout at acquisition date

 

 

6,332

 

 

 

2,800

 

Fair value adjustment

 

 

134

 

 

 

296

 

Payments and other

 

 

(2,831

)

 

 

(2,096

)

Earnout accrued at end of year

 

$

5,835

 

 

$

2,200

 

 

 

 

 

 

 

 

Current portion, recorded within Accrued expenses

 

 

60

 

 

 

1,115

 

Non-current portion, recorded within Other liabilities

 

 

5,775

 

 

 

1,085