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Inventories, net
6 Months Ended
Jun. 30, 2024
Inventory Disclosure [Abstract]  
Inventories, net Inventories, net
Inventories, net, consisting principally of hardware and component parts, are stated at the lower of cost or net realizable value. Cost is determined using the first-in, first-out (FIFO) method.
Inventories, net consist of the following:
(In thousands)June 30,
2024
December 31,
2023
Component parts (1)$6,469 $8,511 
Finished goods6,038 7,042 
Total $12,507 $15,553 
(1) In conjunction with the Company's decision to discontinue investments in its Digipass CX product (see Note 16 Restructuring and Other Related Charges), non-cash impairment charges of $1.6 million for component parts, net, were recorded in "Product and license cost of goods sold" on the condensed consolidated statements of operations for the three months ended June 30, 2023. In November 2023, the Company launched a new product line, Digipass FX1 BIO, and identified the component parts previously purchased for the Digipass CX products that will be used for Digipass FX1 BIO products. For the year ended December 31, 2023, the Company reversed $1.4 million of the previous write-off to "Cost of goods, sold - Product license" within the consolidated statements of operations.