Balance Sheet Details (Tables)
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3 Months Ended |
Mar. 31, 2026 |
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| Balance Sheet Related Disclosures [Abstract] |
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| Schedule of Cash and Cash Equivalents |
Cash, cash equivalents and restricted cash consist of the following:
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March 31, 2026 |
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December 31, 2025 |
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(in thousands) |
| Cash and cash equivalents |
|
$ |
61,077 |
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$ |
72,806 |
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| Short-term restricted cash |
|
1,426 |
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|
1,419 |
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| Long-term restricted cash |
|
27,429 |
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|
27,187 |
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| Total cash, cash equivalents and restricted cash |
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$ |
89,932 |
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$ |
101,412 |
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| Schedule of Restriction Cash |
Cash, cash equivalents and restricted cash consist of the following:
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March 31, 2026 |
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December 31, 2025 |
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|
(in thousands) |
| Cash and cash equivalents |
|
$ |
61,077 |
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|
$ |
72,806 |
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| Short-term restricted cash |
|
1,426 |
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|
1,419 |
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| Long-term restricted cash |
|
27,429 |
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|
27,187 |
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| Total cash, cash equivalents and restricted cash |
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$ |
89,932 |
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$ |
101,412 |
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| Schedule of Inventory |
Inventory consists of the following:
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March 31, 2026 |
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December 31, 2025 |
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(in thousands) |
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| Work-in-process |
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$ |
59,713 |
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$ |
47,598 |
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| Finished goods |
|
26,126 |
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|
30,506 |
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$ |
85,839 |
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$ |
78,104 |
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| Schedule of Property and Equipment |
Property and equipment, net consists of the following:
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Useful Life
(in Years) |
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March 31, 2026 |
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December 31, 2025 |
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(in thousands) |
| Furniture and fixtures |
5 |
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$ |
4,023 |
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$ |
4,006 |
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| Machinery and equipment |
3-5 |
|
87,875 |
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|
87,043 |
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| Masks and production equipment |
5 |
|
67,966 |
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|
66,044 |
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| Software |
3 |
|
11,447 |
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|
11,498 |
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| Leasehold improvements |
1-5 |
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35,488 |
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|
35,632 |
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| Construction in progress |
N/A |
|
595 |
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|
2,516 |
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|
207,394 |
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|
206,739 |
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| Less: accumulated depreciation and amortization |
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(163,032) |
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(157,866) |
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$ |
44,362 |
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$ |
48,873 |
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| Schedule of Price Protection Liability |
The following table sets forth activity related to the accrued price protection liability:
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Three Months Ended March 31, |
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2026 |
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2025 |
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(in thousands) |
| Beginning balance |
$ |
26,493 |
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$ |
43,401 |
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| Charged as a reduction of revenue |
6,429 |
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|
7,753 |
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| Revisions to accrued rebates |
(1,609) |
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— |
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| Payments |
(3,781) |
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|
(3,471) |
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| Ending balance |
$ |
27,532 |
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$ |
47,683 |
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| Schedule of Accrued Expenses and Other Current Liabilities |
Accrued expenses and other current liabilities consist of the following:
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March 31, 2026 |
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December 31, 2025 |
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(in thousands) |
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| Accrued technology license payments |
$ |
4,121 |
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$ |
3,687 |
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| Accrued professional fees |
6,447 |
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|
6,882 |
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| Accrued engineering and production costs |
9,338 |
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|
8,469 |
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| Accrued restructuring |
6,718 |
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|
13,390 |
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| Accrued royalty |
549 |
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|
658 |
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| Short-term lease liabilities |
9,417 |
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|
9,096 |
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| Accrued customer credits |
5,658 |
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6,398 |
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| Income tax liability |
425 |
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|
511 |
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| Customer contract liabilities |
359 |
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|
4,222 |
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| Accrued obligations to customers for price adjustments |
8,134 |
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|
11,922 |
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| Accrued obligations to customers for stock rotation rights |
357 |
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|
222 |
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| Contingent consideration - current portion |
2,600 |
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|
2,600 |
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| Other |
5,589 |
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|
4,335 |
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$ |
59,712 |
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$ |
72,392 |
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| Schedule 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 |
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Total |
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(in thousands) |
| Balance at December 31, 2025 |
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$ |
(327) |
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$ |
1,357 |
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$ |
1,030 |
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| Other comprehensive loss before reclassifications, net of tax |
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(909) |
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— |
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(909) |
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| Balance at March 31, 2026 |
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$ |
(1,236) |
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$ |
1,357 |
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$ |
121 |
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