XML 32 R17.htm IDEA: XBRL DOCUMENT

Accrued Expenses

12 Months Ended

Dec. 31, 2024

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,
	2024		2023
Royalties	$	25,893	$	23,594
Inventory liabilities		5,131		2,611
Salaries and employee benefits		4,556		6,707
Goods in transit		2,128		1,154
Professional fees		1,337		1,556
Bonuses		1,197		1,604
Third-party warehouse		864		1,033
Sales commissions		479		506
Unearned revenue		247		701
Interest expense		77		63
Other		6,547		5,573
	$	48,456	$	45,102

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 related to obligations from the Company’s non-qualified deferred compensation plan (see Note 18 – Employee Benefit Plans) which were $2.6 million and $1.0 million as of December 31, 2024 and 2023, respectively. Other long-term accrued expenses were nil as of December 31, 2024 and $2.7 million as of December 31, 2023, related to negotiated extended payment terms as part of a multi-year agreement with a 3rd party rights holder.