Inventory, net (Current and non current)

12 Months Ended

Dec. 31, 2025

Inventory, net (Current and non current)

Inventory, net, consists of the following as of:


(in thousands)	December 31, 2025			December 31, 2024
Raw materials (net of reserves)		$	8,357	$	27,440
Work in progress		395		46
Finished goods		199		—
		$	8,951	$	27,486

Inventory, current portion		$	3,258	$	27,486
Inventory, non-current portion (1)		$	5,693	$	—

1) Non-current inventory presented as part of Other non-current assets in the Consolidated Balance Sheets

The inventory reserve was $21.1 million and $3.3 million as of December 31, 2025 and December 31, 2024, respectively. During the year ended December 31, 2025 the Company increased its lower-of-cost-and-net-realizable-value inventory reserve by $17.8 million, respectively. Of these amounts, approximately $13.3 million related to market conditions such as anticipated tariffs and higher transportation costs, and approximately $4.6 million, related to excess and obsolete (“E&O”) inventory identified during the period.