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Consolidated Balance Sheets Details
 12 Months Ended
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
Consolidated Balance Sheets Details Consolidated Balance Sheets Details
Inventories, net
Inventories consist of the following (in thousands):
December 31,
20252024
Raw materials$47,613 $60,588 
Work in process2,195 — 
Finished goods100,566 140,230 
Total$150,374 $200,818 

The Company values inventory using costing methods that approximate first-in, first-out (“FIFO”).

During the fourth quarter of 2025, the Company approved a plan to phase out a version of the H250 product that was not compatible with SmarTrack® in order to focus on a SmarTrack®-compatible version introduced in 2024. In connection with this decision, the Company evaluated the recoverability of the remaining H250 inventory and determined that its carrying amount exceeded its estimated net realizable value. Accordingly, the Company recorded an inventory valuation charge of $29.5 million during the year ended December 31, 2025. This charge is included within the STI Operations reporting unit and is recorded within Inventory valuation charge in the consolidated statements of operations.

Prepaid expenses and other current assets
The following table shows the components of Prepaid expenses and other current assets (in thousands):
December 31,
20252024
IRA vendor rebates$152,036 $115,458 
Prepaid taxes27,319 14,650 
Other21,753 27,819 
Total prepaid expenses and other current assets
$201,108 $157,927 
Contingent consideration
The following table shows the components of contingent consideration (in thousands):
December 31,
20252024
Current portion of contingent consideration
TRA
$2,757 $1,193 
Earnout Consideration
11,794 — 
Total current portion of contingent consideration
$14,551 $1,193 
Contingent consideration, net of current portion
TRA
$5,495 $7,868 
Earnout Consideration
7,244 — 
Total contingent consideration, net of current portion
$12,739 $7,868 

Accrued Expenses and Other
Accrued expenses and other consisted of the following (in thousands):
December 31,
20252024
Accrued payables
$12,332 $46,043 
Accrued payroll expenses
17,135 13,068 
Accrued interest
5,564 692 
Non-income taxes payable
1,853 4,019 
Other
17,405 27,361 
Accrued expenses and other$54,289 $91,183 

During the fourth quarter of 2025, the Company approved a plan to resize certain aspects of its international operations to better align its cost structure with future business needs. As a result, the Company recognized severance expenses of $1.2 million during the year ended December 31, 2025, in accordance with respective statutory requirements. These charges are included within the STI Operations reporting unit and are recorded within General and administrative expenses in the consolidated statements of operations.

The Company’s severance liabilities totaled $1.2 million as of December 31, 2025 and are included in Accrued expenses and other in the Company’s consolidated balance sheets. The Company expects the reorganization to be substantially complete in 2026.