RESTRUCTURING

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

RESTRUCTURING

RESTRUCTURING

On February 25, 2025, we notified employees of our wholly-owned subsidiary, Videology Imaging Corporation, of our intention to consolidate all operations in the Netherlands into our facility located in Mansfield, Massachusetts (the “Videology Consolidation”). Videology® is included in our Process Technologies segment. This plan would result in the closure of the Netherlands facility and the termination of certain employees at that location. The Videology Consolidation of the Netherlands operations is being undertaken to increase efficiencies and lower operating costs associated with the current operation of Videology® and is expected to be substantially completed by the end of 2025 at which point we intend to fully vacate the Netherlands facility.

As a result of this action, we expect to incur cash charges for severance and other one-time termination benefits of $350 thousand. In addition, we expect to incur cash charges for other costs related to the facility consolidation, including moving costs, costs associated with the termination of the Netherlands facility lease and other consolidation costs, ranging from $200 thousand to $300 thousand.

We have recognized restructuring expenses related to the Videology Consolidation as follows:

(in thousands)	Three Months Ended March 31, 2025
Severance	$	237
Retention	19
Payroll taxes and payroll related	51
Other	6
Total restructuring charges	$	313

Our restructuring accrual is included as a component of accrued expenses and other current liabilities:

(in thousands)	Three Months Ended March 31, 2025
Beginning balance	$	—
Charges	313
Cash payments	(6)
Ending balance	$	307