XML 50 R31.htm IDEA: XBRL DOCUMENT v3.25.4
Summary of Significant Accounting Policies and Other Information (Tables)
12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Concentration of Risk, by Risk Factor
The following table presents customers individually accounting for more than 10% of the Company’s net sales:
For the Year Ended December 31,
20252024
Customer B20 %11 %
Customer C10 %11 %
Customer E10 %**
Customer F13 %**
The following table presents customers individually accounting for more than 10% of the Company’s trade accounts receivable:
As of December 31,
20252024
Customer B14 %**
Customer C10 %**
Customer D**15 %
Customer E11 %**
Customer G11 %**
The following table presents suppliers individually accounting for more than 10% of the Company’s purchases:
For the Year Ended December 31,
20252024
Supplier A21 %16 %
**    Less than 10% of the total
Schedule of Inventory and Activity in Inventory Allowance
Inventories consist of the following:
(in thousands)As of December 31,
Inventories20252024
Raw materials$105,225 $84,323 
Work in process5,103 872 
Finished goods25,288 16,812 
Total inventories135,616 102,007 
Inventory allowance(8,253)(8,135)
Inventories, net$127,363 $93,872 
Activity in the Company’s inventory allowance was as follows:
(in thousands)For the Year Ended December 31,
Inventory Allowance20252024
Balance at beginning of period$8,135 $5,730 
Charged to expense306 3,394 
Write-offs(188)(989)
Balance at end of period$8,253 $8,135 
Schedule of Estimated Useful Lives by Type of Asset Category
Estimated useful lives by each type of asset category are as follows:
Years
Buildings
Up to 39
Leasehold improvementsLesser of (i) expected useful life of improvement or (ii) life of lease (including likely extension thereof)
Machinery and equipment
1 to 10
Property, plant and equipment by type were as follows:
(in thousands)As of December 31,
Property, Plant and Equipment20252024
Leasehold improvements$11,268 $8,352 
Machinery and equipment53,306 48,643 
Construction in progress3,151 2,454 
Total property, plant and equipment, at cost67,725 59,449 
Accumulated depreciation(44,711)(44,043)
Property, plant and equipment, net$23,014 $15,406 
Schedule of Other Accrued Liabilities
Other accrued liabilities consisted of the following:
(in thousands)As of December 31,
Other Accrued Liabilities20252024
Accrued product warranty$6,634 $10,233 
Accrued litigation 1
1,400 3,847 
Contract liabilities3,486 10,184 
Accrued compensation and benefits19,565 10,721 
Accrued interest expense268 1,237 
Stock appreciation rights liability 2
1,070 1,804 
Non-interest bearing note payable740 693 
Customs accrual1,248 1,162 
Taxes payable257 200 
Other2,685 4,645 
Total$37,353 $44,726 
1    As of December 31, 2025 and 2024, accrued litigation includes accruals related to various ongoing legal matters including associated legal fees. See Note 11. Commitments and Contingencies for further information regarding the various ongoing legal matters.
2    The Company has an incentive compensation plan, which authorizes the granting of a variety of different types of awards including, but not limited to, non-qualified stock options, incentive stock options, Stock Appreciation Rights (“SARs”), Restricted Stock Awards (“RSAs”), deferred stock and performance units to its executive officers, employees, consultants and Directors. The SAR awards granted for the year ended December 31, 2025 and 2024 were all liability classified awards and remained outstanding. See Note 14. Stock-Based Compensation for additional information on the SARs and RSAs.
Schedule of Accrued Product Warranty Activities
Accrued product warranty activities included in Other noncurrent liabilities on the Consolidated Balance Sheet are presented below:
(in thousands)For the Year Ended December 31,
Accrued Product Warranty20252024
Balance at beginning of year$13,972 $19,263 
Current year provision *6,039 6,054 
Changes in estimates for preexisting warranties **
829 1,239 
Payments made during the period(12,647)(12,584)
Balance at end of year8,193 13,972 
Less: Current portion6,634 10,233 
Noncurrent accrued product warranty$1,559 $3,739 
*Warranty costs, net of supplier recoveries, and other adjustments, were $6.8 million and $6.5 million for the years ended December 31, 2025 and 2024, respectively. Supplier recoveries were $0.1 million and $0.8 million for the years ended December 31, 2025 and 2024, respectively.
**Changes in estimates for preexisting warranties reflect changes in the Company’s estimate of warranty costs for products sold in prior periods. Such adjustments typically occur when claims experience deviates from historical and expected trends. For the year December 31, 2025, the Company recorded a cost for changes in estimates of preexisting warranties of $0.8 million, or $0.04 per diluted share, and costs of $1.2 million, or $0.05 per diluted share, for the year ended December 31, 2024.