INVENTORY

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

INVENTORY

8. INVENTORY

The following table summarizes the components of the Company’s inventory for each of the periods indicated:

	As of December 31,
	2024		2023
	(in thousands)
Raw materials	$	280,045	$	133,963
Work in progress		610,692		318,458
Finished goods		47,209		61,806
Total inventory	$	937,946	$	514,227

No material inventory reserves existed as of December 31, 2024 or 2023. The Company classifies inventory associated with its PMO Products as non-current inventory when consumption of the inventory is expected beyond the Company's normal PMO Product inventory operating cycle of two years. Non-current inventory consists of raw materials and work in progress associated with the PMO Products.

The following table summarizes the balance sheet classification of the Company's inventory for each of the periods indicated:

	As of December 31,
	2024		2023
	(in thousands)
Balance sheet classification
Inventory	$	749,960	$	322,859
Non-current inventory		187,986		191,368
Total inventory	$	937,946	$	514,227