Inventory—Inventory consisted of the following (in thousands):


	March 31, 2026		December 31, 2025
Raw materials	$	24,145	$	24,741
Work in progress		3,480		2,921
Finished goods		12,306		10,820
Total	$	39,931	$	38,482

Accrued and other current liabilities—Accrued and other current liabilities consisted of the following (in thousands):


	March 31, 2026		December 31, 2025
Accrued compensation	$	3,099	$	6,856
Deferred revenue, current		2,110		470
Accrued warranty expense		980		870
Accrued deferred offering costs		2,090		734
Other accrued liabilities		8,535		6,829
Total	$	16,814	$	15,759

The Company’s product warranty provides that the ARGO HT System will operate materially in accordance with specifications for 12 months from the delivery date. The warranty does not provide the customer with a service in addition to the assurance that the product complies with agreed-upon specifications, therefore it is an assurance type warranty. The Company uses its understanding of industrial practice, expected site visits, potential use of spare parts, and other relevant information to accrue estimated warranty costs upon delivery of the ARGO HT Systems.

Changes in the reserve for product warranties were as follows (in thousands):


	Three Months Ended March 31,
	2026			2025
Balance at beginning of period	$	870		$	556
Amounts charged to cost of revenue		440			260
Repairs and replacements		(330	)		(191	)
Balance at end of period	$	980		$	625