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Product Warranty Obligations
 9 Months Ended
Sep. 30, 2024
Product Warranty Obligations  
Product Warranty Obligations

11.

Product Warranty Obligations

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The Company provides a warranty of one year on its smart transmitters. Additionally, the Company may also replace Eversense system components that do not function in accordance with the product specifications. Estimated replacement costs are recorded at the time of shipment as a charge to cost of sales in the consolidated statement of operations and are developed by analyzing product performance data and historical replacement experience, including comparing actual replacements to revenue.

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The warranty reserve was $0.4 million and $0.5 million for the periods ending September 30, 2024 and December 31, 2023, respectively. The following table provides a reconciliation of the change in estimated warranty

liabilities for the nine months ended September 30, 2024, and for the twelve months ended December 31, 2023 (in thousands):

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September 30, 

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December 31,

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2024

    

2023

Balance at beginning of the period

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$

514

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$

781

Provision for warranties during the period

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​

177

​

​

242

Settlements made during the period

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​

(276)

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​

(509)

Balance at end of the period

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$

415

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$

514

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