v3.25.3
Inventory
9 Months Ended
Sep. 30, 2025
Inventory Disclosure [Abstract]  
Inventory
5. Inventory
The Company's inventory balance consists of the following (in thousands):
As of
September 30, 2025December 31, 2024
Raw materials$26,318 $19,682 
Work-in-process37,890 39,932 
Finished goods56,757 38,964 
$120,965 $98,578 
Inventory is stated at the lower of cost and net realizable value and consists of raw materials, work-in-process and finished goods. The Company has not recorded any significant inventory write-downs. The Company currently uses a limited number of third-party contract manufacturing organizations (CMOs) to produce its inventory.