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Note 8 - Commitments and Contingencies
 3 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]

8.

COMMITMENTS AND CONTINGENCIES

 

Purchase Commitments

 

As of March 31, 2023, we have made commitments to purchase approximately $873 of production machinery and equipment.

 

Product Warranties

 

We estimate future warranty costs to be incurred for product failure rates, material usage and service costs in the development of our warranty obligations. Estimated future costs are based on actual past experience and are generally estimated as a percentage of sales over the warranty period. Changes in our product warranty liability during the first three months of 2023 and 2022 were as follows:

 

   

Three-month period ended March 31,

  
   

2023

    

2022

  

Accrued warranty obligations – beginning

   $ 323     $ 133  

Accruals for warranties issued

     84       18  

Settlements made

     (21 )     (31 )

Accrued warranty obligations – ending

   $ 386     $ 120  

 

 

Contingencies and Legal Matters

 

We are subject to legal proceedings and claims that arise from time to time in the normal course of business. We believe that the final disposition of any such matters will not have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, recognizing that legal matters are subject to inherent uncertainties, there exists the possibility that ultimate resolution of these matters could have a material adverse impact on the Company’s financial position, results of operations or cash flows. We are not aware of any such situations at this time.