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Allowance For Credit Losses
 9 Months Ended
Sep. 30, 2025
Allowance for Credit Loss [Abstract]  
Allowance for Credit Losses Allowance for Credit Losses
In June 2025, the Company issued a $2.2 million promissory note receivable to Next Semiconductor Technologies, Inc, reported within prepaid expenses and other current assets in the condensed consolidated balance sheet. The promissory note was accounted for as a financial asset measured at amortized cost and evaluated for expected credit losses under ASC 326, Financial Instruments - Credit Losses (“CECL”).
In the third quarter of 2025, Next Semiconductor Technologies defaulted on its repayment obligations. As a result, the Company evaluated the promissory note for expected credit losses and determined that the full carrying amount of the promissory note was no longer expected to be collected. The Company recorded a provision for credit losses of $2.2 million for the quarter ended September 30, 2025.
The following table sets forth the activity in allowance for credit losses (in thousands):
September 30, 2025December 31, 2024
Beginning of the period$— $— 
Provision for credit loss2,186 — 
Write-offs(2,186)— 
End of the period$— $—