Quarterly report pursuant to Section 13 or 15(d)

Inventory

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Inventory
 3 Months Ended
Mar. 31, 2024
Inventory Disclosure [Abstract]  
Inventory Inventory
Inventory consists of the following components (in thousands).
March 31,
2024		 December 31, 2023
Raw materials $ 1,825  $ 1,926 
Work-in-process 3,513  6,687 
Finished goods 1,198  124 
Total inventory $ 6,536  $ 8,737 
Inventory is stated at the lower of cost or net realizable value (“NRV”) on a first-in and first-out basis. Inventory costs include direct materials, direct labor, and manufacturing overhead. When the estimated net realizable values are below the manufacturing costs, a charge to cost of revenue is recorded for finished goods and work in process inventories. For the quarters ended March 31, 2024 and April 2, 2023, we did not record an inventory reserve as cost of
revenue in the Condensed Consolidated Statement of Operations. As of March 31, 2024 and December 31, 2023, we did not have excess or obsolete inventory reserve.