Cash, cash equivalents and restricted cash

9 Months Ended

Sep. 30, 2024

Cash, cash equivalents and restricted cash

Cash, cash equivalents and restricted cash

Note 9. Cash, cash equivalents and restricted cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets to the total of the amounts shown in the statement of cash flows:

	September 30,		December 31,
	2024			2023
	(in thousands)
Cash and cash equivalents	$	120,066	$	167,297
Long-term restricted cash		6,653		6,654
Total cash, cash equivalents and restricted cash	$	126,719	$	173,951

As of September 30, 2024, we had $6.7 million in restricted cash representing the total of (i) a $5.9 million cash collateralized letter of credit serving as a security deposit for our headquarters lease in Beverly, Massachusetts, (ii) a $0.7 million cash collateralized letter of credit relating to workers’ compensation insurance and (iii) a $0.1 million deposit relating to customs activity. See Note 13 for further discussion on the $5.9 million cash collateralized letter of credit.