Inventories

9 Months Ended

Sep. 30, 2025

Inventory Disclosure [Abstract]

Inventories

5. Inventories

As of September 30, 2025 and December 31, 2024, Inventories consisted of the following:

	September 30,		December 31,
(In thousands of U.S. Dollars)	2025		2024
Raw materials	$	30,482	$	29,162
Work-in-process	2,324		1,611
Finished goods	8,629		2,067
Total	$	41,435	$	32,840

As of September 30, 2025, Inventories included finished goods of $4.1 million (December 31, 2024 — $1.8 million) for which title had passed to the customers, but the criteria for revenue recognition were not met as of the balance sheet date.

During the three and nine months ended September 30, 2025, the Company recorded write-downs of less than $0.1 million and $0.2 million, respectively (2024 — write-downs of $0.1 million and $0.3 million during each such period) in Costs and Expenses Applicable to Revenues ― Technology Sales.