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GOVERNMENT INCENTIVES
12 Months Ended
Dec. 31, 2025
Government Assistance [Abstract]  
GOVERNMENT INCENTIVES
21. GOVERNMENT INCENTIVES

CHIPS and Science Act Agreement

On December 3, 2024, the Company entered into a definitive agreement to receive funding under the CHIPS and Science Act of 2022 (“CHIPS Act”). The agreement provides the Company with up to $77.0 million intended to support capital expenditures related to the construction of a manufacturing facility in Colorado Springs, Colorado, research and development, and workforce training initiatives.
The grant is subject to certain conditions, including compliance with applicable federal regulations, progress milestones, and reporting requirements as set forth by the U.S. Department of Commerce. The Company is also required to meet specific performance and employment targets to maintain eligibility for the funding. As of December 31, 2025, the Company has received $8.2 million in disbursements with a corresponding reduction to carrying amounts of the qualifying manufacturing assets included in property, plant and equipment on the Consolidated Balance Sheet.
There are no material penalties or contingencies that would significantly affect the Company’s financial position, except as described above.
The CHIPS Act provides an investment tax credit for certain investments in U.S. semiconductor manufacturing. As of December 31, 2025, in connection with the CHIPS Act, the Company recorded a $31.0 million reduction to the carrying amounts of the qualifying manufacturing assets included in property, plant and equipment on the Consolidated Balance Sheet.