Inventories

3 Months Ended

Mar. 31, 2025

Inventory Disclosure [Abstract]

Inventories

3. Inventories

Inventories as of March 31, 2025 and December 31, 2024 consist of the following (in thousands):

	March 31, 2025			December 31, 2024
Finished goods	$	7,901		$	7,802
Semi-finished goods and work-in-process		29,743			26,797
Raw materials		3,540			3,607
Materials in-transit		203			61
Less: inventory reserve		(8,754	)		(7,732	)
Inventories, net	$	32,633		$	30,535

Changes in inventory reserve for the three months ended March 31, 2025 and 2024 are as follows (in thousands):

	Three Months Ended
	March 31, 2025			March 31,   2024
Beginning balance	$	(7,732	)	$	(10,599	)
Change in reserve
Inventory reserve charged to costs of sales		(2,299	)		(1,550	)
Sale of previously reserved inventory		1,268			2,661
		(1,031	)		1,111
Write off		197			266
Translation adjustments		(188	)		275
Ending balance	$	(8,754	)	$	(8,947	)

Inventory reserve represents the Company’s best estimate in value lost due to excessive inventory level, physical deterioration, obsolescence, changes in price levels, or other causes based on individual facts and circumstances. Inventory reserve relates to inventory items including finished goods, semi-finished goods, work-in-process and raw materials. Write off of this reserve is recognized only when the related inventory has been disposed or scrapped.