Balance Sheet Details (Tables)
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6 Months Ended |
Jun. 30, 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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June 30, 2026 |
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December 31, 2025 |
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(in thousands) |
| Cash and cash equivalents |
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$ |
64,814 |
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$ |
72,806 |
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| Short-term restricted cash |
|
1,492 |
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|
1,419 |
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| Long-term restricted cash |
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27,426 |
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|
27,187 |
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| Total cash, cash equivalents and restricted cash |
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$ |
93,732 |
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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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June 30, 2026 |
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December 31, 2025 |
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(in thousands) |
| Cash and cash equivalents |
|
$ |
64,814 |
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|
$ |
72,806 |
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| Short-term restricted cash |
|
1,492 |
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|
1,419 |
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| Long-term restricted cash |
|
27,426 |
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|
27,187 |
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| Total cash, cash equivalents and restricted cash |
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$ |
93,732 |
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$ |
101,412 |
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| Schedule of Inventory |
Inventory consists of the following:
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June 30, 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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$ |
79,012 |
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$ |
47,598 |
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| Finished goods |
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26,478 |
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|
30,506 |
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$ |
105,490 |
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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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June 30, 2026 |
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December 31, 2025 |
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(in thousands) |
| Furniture and fixtures |
5 |
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$ |
4,101 |
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$ |
4,006 |
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| Machinery and equipment |
3-5 |
|
88,929 |
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|
87,043 |
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| Masks and production equipment |
5 |
|
68,028 |
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|
66,044 |
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| Software |
3 |
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11,253 |
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11,498 |
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| Leasehold improvements |
1-5 |
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36,127 |
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|
35,632 |
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| Construction in progress |
N/A |
|
1,315 |
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|
2,516 |
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|
|
|
209,753 |
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|
206,739 |
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| Less: accumulated depreciation and amortization |
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(168,546) |
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(157,866) |
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$ |
41,207 |
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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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Six Months Ended June 30, |
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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 |
15,890 |
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|
14,353 |
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| Revisions to accrued rebates |
(2,440) |
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|
(12,170) |
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| Payments |
(8,751) |
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|
(6,064) |
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| Ending balance |
$ |
31,192 |
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$ |
39,520 |
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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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June 30, 2026 |
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December 31, 2025 |
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(in thousands) |
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| Accrued technology license payments |
$ |
3,627 |
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$ |
3,687 |
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| Accrued professional fees |
5,198 |
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|
6,882 |
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| Accrued engineering and production costs |
11,496 |
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|
8,469 |
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| Accrued restructuring |
2,363 |
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|
13,390 |
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| Short-term lease liabilities |
8,806 |
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|
9,096 |
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| Accrued customer credits |
5,197 |
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6,398 |
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| Income tax liability |
432 |
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|
511 |
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| Customer contract liabilities |
397 |
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|
4,222 |
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| Accrued obligations to customers for price adjustments |
10,420 |
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|
11,922 |
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| Accrued obligations to customers for stock rotation rights |
247 |
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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 |
7,461 |
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|
4,993 |
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$ |
58,244 |
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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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|
319 |
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— |
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319 |
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| Balance at June 30, 2026 |
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$ |
(8) |
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$ |
1,357 |
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$ |
1,349 |
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