Quarterly report [Sections 13 or 15(d)]

Inventories, Net

v3.25.1
Inventories, Net
3 Months Ended
Mar. 31, 2025
Inventory Disclosure [Abstract]  
Inventories, Net

Note 3 - Inventories, net

Inventories are comprised of the following items:

 

 

March 31, 2025

 

December 31, 2024

Supplies

 

$

5,753

 

$

4,134

Raw materials

 

 

3,329

 

 

3,815

Work in process

 

 

3,284

 

 

5,194

Finished goods

 

 

7,086

 

 

9,570

Inventory reserve

 

 

(136)

 

 

(247)

Total

 

$

19,316

 

$

22,466

 

Inventories are written down for any obsolescence or when the net realizable value considering future events and conditions is less than the carrying value. For the three months ended March 31, 2025 and 2024, the Company recorded $Nil and $Nil respectively, related to spoiled inventory in costs and expenses applicable to revenues on the unaudited interim condensed consolidated statements of operations.

 

The Company had implemented a change in accounting estimate with respect to the valuation of inventory. Refer to Note 1(h) for further details.