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Inventories
3 Months Ended
Mar. 31, 2023
Inventories  
Inventories

Note 5Inventories

As of March 31, 2023 and December 31, 2022, inventories consisted of the following:  


(in thousands)

 

March 31, 2023

 

 

December 31, 2022

 

Raw materials

 

$

871

 

 

$

944

 

Work in process

 

 

2,480

 

 

 

2,879

 

Finished goods

 

 

578

 

 

 

353

 

     Total inventories, net

 

 

3,929

 

 

 

4,176

 

Less: noncurrent inventories 

 

 

1,451

 

 

2,194

     Current inventories

 

$

2,478

 

 

$

1,982

 

The reserve for obsolete inventory was $738,000 and $668,000 as of March 31, 2023 and December 31, 2022, respectively. The Company records charges for obsolete inventory in cost of goods sold. As of March 31, 2023 and December 31, 2022, noncurrent inventory was comprised of approximately $0.5 million and $0.1 million in raw materials and $1.0 million and $2.1 million of work in process, respectively. Inventory classified under the category work in process consists of prefabricated assembled product.