Company: MYND
Filing Date: 2025-03-26
Form Type: 20-F
Source: 0001628280-25-014832
Chunk: 138

Company: Mynd.ai, Inc.
Filing Date: 2025-03-26
Form: 20-F
Item: Item 18
Chunk 138
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Borrowings under the Revolver are collateralized by the Company’s eligible trade receivables globally and eligible inventories in the United States and the Netherlands. Eligibility is determined by Bank of America and is based on the country of origin for the Company’s trade receivables and the type and nature of the Company’s inventory in the United States and the Netherlands. As of December 31, 2024 and 2023, the Company had unused borrowing capacity of $ 8,608 20,473

The Revolver loan agreement includes a number of affirmative and negative covenants. As of December 31, 2024, the Company was in material compliance with all such covenants.

Paycheck Protection Program

In May 2020, the Company entered into a $ 5,396 1 4,923 196 2 4

The promissory note and the loans payable, related parties, non-current are discussed in detail above in Note 13 - Related Party Transactions.

Note 15. Commitments and Contingencies

Warranty

Changes in accrued warranty liabilities during the indicated periods are as follows:

                                   For the Year Ended December 31,                                                                  
                                   2024                                             2023                      2022                  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Beginning balance                $                                    17,871      $             13,550      $             11,202  
  Provision                                                              7,805                     9,750                     8,923  
  Utilized                         ( 9,835)                                         ( 6,065)                  ( 5,939)              
  Foreign currency adjustment      ( 92)                                            636                       ( 636)                
  Ending balance                   $                                    15,749      $             17,871      $             13,550  

The provision amount in the table above represents adjustments recorded for estimated future costs related to units under warranty as of each balance sheet date, including both accruals for warranties issued during the year and changes in the provision for accruals related to previously issued warranties. Included in the 2024 provision amount is a reduction of$ 2,489 as a result of lower estimated future costs due to continued low failure rates on our ActivPanel 9 and our ActivPanel LX models. The provision reflects the most current information available to the Company regarding key inputs into the estimated provision, including product failure rates and costs