Inventory

3 Months Ended

Mar. 31, 2025

Inventory consisted of the following (in thousands):


	March 31, 2025		December 31, 2024
Raw materials	$	2,600	$	2,087
Semi-finished goods	7,558		4,899
Finished goods	105		1,763
Total inventory	$	10,263	$	8,749

Inventory write-downs as a result of excess, obsolescence, expiry, or other reasons, and losses on firm purchase commitments, offset by recoveries of such commitments, are recorded as a component of cost of sales in the Company’s consolidated statements of operations. For the three months ended March 31, 2025, inventory write-downs were $0.3 million

and there were no losses or recoveries on firm purchase commitments. For the three months ended March 31, 2024, inventory write-downs were $8.8 million and there were no losses or recoveries on firm purchase commitments.