v3.25.2
Balance Sheet Components
 6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Components
5. Balance Sheet Components
Inventories
The components of inventories consisted of the following (in thousands):
 June 30, 2025December 31, 2024
Raw materials$122,591 $133,967 
Work in process45,661 35,713 
Finished goods259,376 237,057 
Inventories$427,628 $406,737 
Accrued Liabilities
The components of accrued liabilities consisted of the following (in thousands):
 June 30, 2025December 31, 2024
Payroll and employee-related expenses$74,075 $74,201 
Accrued expenses11,676 13,982 
Other accrued liabilities28,638 24,246 
Total accrued liabilities$114,389 $112,429 
The following table shows the changes in the Company’s estimated product warranty accrual, included in accrued liabilities, for the six months ended June 30, 2025 and twelve months ended December 31, 2024, respectively (in thousands):
 June 30, 2025December 31, 2024
Balance at the beginning of the period$2,033 $5,755 
Accruals of warranties issued, net1,170 (1,923)
Settlements of warranty claims(1,077)(1,799)
Balance at the end of the period$2,126 $2,033 
Acquisition of Property
On February 14, 2025, the Company entered into agreements to acquire property in Costa Rica and construct a manufacturing facility and warehouse, totaling approximately 330,000 square feet, for the production of medical devices. The capital project is expected to cost approximately $35 million, excluding certain improvements to the facility that the Company plans to undertake in connection with the construction of the facility. During the six months ended June 30, 2025, the Company made payments of $16.4 million in relation to the Costa Rica capital project. In accordance with ASC 360, the Company
capitalized these payments within property and equipment, net, in the condensed consolidated balance sheets, as they represent costs directly attributable to acquiring the assets and preparing them for their intended use, including the cost of land, work performed and advance payments that are capitalizable as part of the project.