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Global Wells
 12 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Global Wells Global Wells
The following financial information includes assets and liabilities of Global Wells and are included in the accompanying consolidated balance sheets, except for those that eliminate upon consolidation:
December 31, 2024December 31, 2023
(in thousands)
Cash and cash equivalents
$1,703 $13,566 
Short-term investments11,128 — 
Prepaid expenses and other current assets 535 558 
Property and equipment, net 42,972 44,185 
Other non-current assets
2,608 3,240 
Total assets $58,946 $61,549 
Accounts payable $16 $63 
Accrued expenses 489 591 
Deferred revenue
—116 
Due to Lollicup USA Inc. 14 14 
Income taxes payable
3— 
Other current liabilities
9161,302 
Long-term debt, current portion 1,1791,122 
Long-term debt, net of current portion 47,27948,396 
Other non-current liabilities
1,198— 
Total liabilities $51,094 $51,604 

During the year ended December 31, 2023, Global Wells made a pro rata distribution of its earnings of $3,956,000, net of all applicable withholding taxes, to its four members. Lollicup received $504,000, net of applicable withholding taxes, which was eliminated in the consolidated financial statements.

During the year ended December 31, 2024, Global Wells and one of its members entered into a membership interest redemption agreement. See Note 2 — Summary of Significant Accounting Policies for further discussion on the redemption.