Balance Sheet Details (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Balance Sheet Related Disclosures [Abstract] |
|
| Summary of Cash and Cash Equivalents |
Cash, cash equivalents and restricted cash consist of the following:
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|
December 31, 2025 |
|
December 31, 2024 |
|
(in thousands) |
| Cash and cash equivalents |
$ |
72,806 |
|
|
$ |
118,575 |
|
| Short-term restricted cash |
1,419 |
|
|
1,003 |
|
| Long-term restricted cash |
27,187 |
|
|
25 |
|
| Total cash, cash equivalents and restricted cash |
$ |
101,412 |
|
|
$ |
119,603 |
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| Summary of Restricted Cash |
Cash, cash equivalents and restricted cash consist of the following:
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December 31, 2025 |
|
December 31, 2024 |
|
(in thousands) |
| Cash and cash equivalents |
$ |
72,806 |
|
|
$ |
118,575 |
|
| Short-term restricted cash |
1,419 |
|
|
1,003 |
|
| Long-term restricted cash |
27,187 |
|
|
25 |
|
| Total cash, cash equivalents and restricted cash |
$ |
101,412 |
|
|
$ |
119,603 |
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| Summary of Inventory |
Inventory consists of the following:
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December 31, 2025 |
|
December 31, 2024 |
|
(in thousands) |
|
|
|
|
| Work-in-process |
$ |
47,598 |
|
|
$ |
53,979 |
|
| Finished goods |
30,506 |
|
|
36,364 |
|
|
|
|
|
|
|
|
|
|
$ |
78,104 |
|
|
$ |
90,343 |
|
|
| Summary of Property and Equipment, Net |
Property and equipment, net consists of the following:
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|
Useful Life
(in Years) |
|
December 31, 2025 |
|
December 31, 2024 |
|
|
|
(in thousands) |
| Furniture and fixtures |
5 |
|
$ |
4,006 |
|
|
$ |
3,937 |
|
| Machinery and equipment |
3-5 |
|
87,043 |
|
|
80,804 |
|
| Masks and production equipment |
5 |
|
66,044 |
|
|
63,803 |
|
| Software |
3 |
|
11,498 |
|
|
11,178 |
|
| Leasehold improvements |
1-5 |
|
35,632 |
|
|
34,981 |
|
| Construction in progress |
N/A |
|
2,516 |
|
|
898 |
|
|
|
|
206,739 |
|
|
195,601 |
|
| Less: accumulated depreciation and amortization |
|
|
(157,866) |
|
|
(136,301) |
|
|
|
|
$ |
48,873 |
|
|
$ |
59,300 |
|
|
| Summary of Accrued Price Protection Liability |
The following table sets forth activity related to the accrued price protection liability:
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Year Ended December 31, |
|
2025 |
|
2024 |
|
(in thousands) |
| Beginning balance |
$ |
43,401 |
|
|
$ |
71,684 |
|
|
|
|
|
| Charged as a reduction of revenue |
28,245 |
|
|
34,070 |
|
| Revisions to accrued rebates |
(27,086) |
|
|
(17,736) |
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| Payments |
(18,067) |
|
|
(44,617) |
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| Ending balance |
$ |
26,493 |
|
|
$ |
43,401 |
|
|
| Summary of Accrued Expenses and Other Current Liabilities |
Accrued expenses and other current liabilities consist of the following:
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|
December 31, 2025 |
|
December 31, 2024 |
|
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|
(in thousands) |
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|
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| Accrued technology license payments |
$ |
3,687 |
|
|
$ |
4,336 |
|
|
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| Accrued professional fees |
6,882 |
|
|
7,103 |
|
|
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| Accrued engineering and production costs |
8,469 |
|
|
3,080 |
|
|
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| Accrued restructuring |
13,390 |
|
|
11,022 |
|
|
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| Accrued royalty |
658 |
|
|
438 |
|
|
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| Short-term lease liabilities |
9,096 |
|
|
9,413 |
|
|
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| Accrued customer credits |
6,398 |
|
|
1,011 |
|
|
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| Income tax liability |
511 |
|
|
745 |
|
|
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| Customer contract liabilities |
4,222 |
|
|
114 |
|
|
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| Accrued obligations to customers for price adjustments |
11,922 |
|
|
42,954 |
|
|
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| Accrued obligations to customers for stock rotation rights |
222 |
|
|
252 |
|
|
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| Contingent consideration – current portion |
2,600 |
|
|
2,600 |
|
|
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| Other |
4,335 |
|
|
4,340 |
|
|
|
|
$ |
72,392 |
|
|
$ |
87,408 |
|
|
|
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| Summary of Accumulated Other Comprehensive Income (Loss) by Component |
The following table summarizes the change in balances of accumulated other comprehensive income (loss) by component:
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Cumulative Translation Adjustments |
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|
Pension and Other Defined Benefit Plan Obligation |
|
Total |
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|
(in thousands) |
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| Balance at December 31, 2023 |
|
|
$ |
(5,059) |
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|
|
|
$ |
1,268 |
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|
$ |
(3,791) |
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| Other comprehensive loss before reclassifications, net of tax |
|
|
(3,030) |
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|
|
|
(19) |
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|
(3,049) |
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| Reclassification adjustments of unrealized gain on pension and other defined benefit plans |
|
|
— |
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|
17 |
|
|
17 |
|
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| Net current period other comprehensive loss |
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|
(3,030) |
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|
(2) |
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|
(3,032) |
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| Balance at December 31, 2024 |
|
|
(8,089) |
|
|
|
|
1,266 |
|
|
(6,823) |
|
| Other comprehensive income before reclassifications, net of tax |
|
|
7,762 |
|
|
|
|
— |
|
|
7,762 |
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| Net actuarial gain (loss) on pension and other defined benefit plans, net of tax |
|
|
— |
|
|
|
|
91 |
|
|
91 |
|
| Net current period other comprehensive income |
|
|
7,762 |
|
|
|
|
91 |
|
|
7,853 |
|
| Balance at December 31, 2025 |
|
|
$ |
(327) |
|
|
|
|
$ |
1,357 |
|
|
$ |
1,030 |
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