RESTRUCTURING CHARGES (Tables)

6 Months Ended

Jun. 30, 2024

RESTRUCTURING CHARGES

Schedule of employee severance, benefits and related costs

During the six months ended June 30, 2024 and 2023, the Company recorded the following activity related to the 2022 and 2024 Initiatives in accrued expenses and other current liabilities on the balance sheet (in thousands):

	Six Months Ended June 30,
	2024		2023
Accrued expenses, beginning of period	$	6,313	$	1,096
Restructuring charges		85,225		6,468
Cash payments		(3,894)		(1,974)
Inventory write-off		—		(2,484)
Depreciation and amortization of assets to be disposed		(80,329)		—
Accrued expenses, end of period	$	7,315	$	3,106

Schedule of restructuring and related costs

During the three and six months ended June 30, 2024 and 2023, the Company recognized the following restructuring charges which were expensed as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cost of sales	$	37,852	$	2,488	$	44,613	$	3,205
Research and development		4,497		265		7,003		2,898
Sales and marketing		19,132		4		22,508		130
General and administrative		9,567		93		11,101		235
Total restructuring charges	$	71,048	$	2,850	$	85,225	$	6,468