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Accrued Expenses
 12 Months Ended
Dec. 31, 2023
Disclosure Text Block Supplement [Abstract]  
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]

Note 8—Accrued Expenses

 

Accrued expenses consist of the following (in thousands):

 

   

December 31,

  
   

2023

    

2022

  

Royalties

   $ 23,594     $ 17,980  

Salaries and employee benefits

     6,707       4,697  

Inventory liabilities

     2,611       3,619  

Bonuses

     1,604       1,698  

Professional fees

     1,556       2,949  

Goods in transit

     1,154       1,519  

Third-party warehouse

     1,033       936  

Unearned revenue

     701       922  

Sales commissions

     506       558  

Interest expense

     63       68  

Other

     5,573       3,052  
    $ 45,102     $ 37,998  

 

In addition to royalties currently payable on the sale of licensed products during the year, the Company records a liability as accrued royalties for the estimated shortfall in achieving minimum royalty guarantees pursuant to certain license agreements (see Note–16 - Commitments).

 

Accrued expenses – long-term, which result from negotiated extended payment terms as part of a multi-year agreement with a 3rd party rights holder amounted to $2.7 million as of December 31, 2023, payable in installments over the next 2 years, and nil as of December 31, 2022. The remaining $1.0 million as of December 31, 2023 related to obligations from the Company’s non-qualified deferred compensation plan (see Note 18 – Employee Benefit Plans) which were nil as of December 31, 2022.