Balance Sheet Details (Tables)
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9 Months Ended |
Sep. 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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September 30, 2026 |
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December 31, 2025 |
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(in thousands) |
| Cash and cash equivalents |
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$ |
81,085 |
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$ |
72,806 |
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| Short-term restricted cash |
|
1,359 |
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|
1,419 |
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| Long-term restricted cash |
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27,420 |
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|
27,187 |
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| Total cash, cash equivalents and restricted cash |
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$ |
109,864 |
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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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September 30, 2026 |
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December 31, 2025 |
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(in thousands) |
| Cash and cash equivalents |
|
$ |
81,085 |
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$ |
72,806 |
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| Short-term restricted cash |
|
1,359 |
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|
1,419 |
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| Long-term restricted cash |
|
27,420 |
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|
27,187 |
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| Total cash, cash equivalents and restricted cash |
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$ |
109,864 |
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$ |
101,412 |
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| Schedule of Inventory |
Inventory consists of the following:
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September 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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$ |
79,013 |
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$ |
47,598 |
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| Finished goods |
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34,709 |
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|
30,506 |
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$ |
113,722 |
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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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September 30, 2026 |
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December 31, 2025 |
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(in thousands) |
| Furniture and fixtures |
5 |
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$ |
4,059 |
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$ |
4,006 |
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| Machinery and equipment |
3-5 |
|
92,420 |
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|
87,043 |
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| Masks and production equipment |
5 |
|
67,099 |
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|
66,044 |
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| Software |
3 |
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11,290 |
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11,498 |
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| Leasehold improvements |
1-5 |
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35,425 |
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35,632 |
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| Construction in progress |
N/A |
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2,168 |
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2,516 |
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212,461 |
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206,739 |
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| Less: accumulated depreciation and amortization |
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(171,185) |
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(157,866) |
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$ |
41,276 |
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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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Nine Months Ended September 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 |
25,582 |
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21,506 |
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| Revisions to accrued rebates |
(4,667) |
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(22,289) |
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| Payments |
(17,041) |
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(8,779) |
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| Ending balance |
$ |
30,367 |
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$ |
33,839 |
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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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September 30, 2026 |
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December 31, 2025 |
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(in thousands) |
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| Accrued technology license payments |
$ |
4,079 |
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$ |
3,687 |
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| Accrued professional fees |
2,472 |
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|
6,882 |
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| Accrued engineering and production costs |
13,635 |
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|
8,469 |
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| Accrued restructuring |
2,659 |
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13,390 |
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| Short-term lease liabilities |
8,167 |
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9,096 |
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| Accrued customer credits |
8,453 |
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6,398 |
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| Income tax liability |
444 |
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|
511 |
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| Customer contract liabilities |
284 |
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|
4,222 |
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| Accrued obligations to customers for price adjustments |
14,428 |
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|
11,922 |
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| Accrued obligations to customers for stock rotation rights |
343 |
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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 |
6,911 |
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4,993 |
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$ |
64,475 |
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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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(389) |
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— |
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(389) |
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| Balance at September 30, 2026 |
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$ |
(716) |
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$ |
1,357 |
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$ |
641 |
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