v3.25.4
Balance Sheets Components
 12 Months Ended
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
Balance Sheets Components Balance Sheets Components
Accounts Receivable, net
Accounts receivable, net consisted of the following:
As of
December 31, 2025December 31, 2024
(in thousands)
Accounts receivable, gross$45,090 $38,259 
Allowance for credit losses(50)(50)
Accounts receivable, net$45,040 $38,209 
Inventory
Inventory consisted of the following:
As of
December 31, 2025December 31, 2024
(in thousands)
Raw materials$13,572 $14,995 
Work in progress47,485 47,300 
Finished goods20,500 14,446 
Total inventories$81,557 $76,741 
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following:
As of
December 31, 2025December 31, 2024
(in thousands)
Prepaid expenses$6,761 $4,305 
Other current assets7,514 5,971 
Total prepaid expenses and other current assets$14,275 $10,276 
Property and Equipment, Net
Property and equipment, net consisted of the following:
As of
December 31, 2025December 31, 2024
(in thousands)
Lab and manufacturing equipment$158,909 $119,964 
Computer equipment3,928 3,833 
Furniture and fixtures1,152 1,167 
Construction in progress15,885 9,538 
Leasehold improvements8,303 7,818 
188,177 142,320 
Accumulated depreciation(83,063)(59,845)
Total property and equipment, net$105,114 $82,475 
Depreciation expense related to property and equipment was $23.6 million, $16.1 million, and $13.3 million for the years ended December 31, 2025, 2024, and 2023, respectively.
Intangible Assets, Net
Intangible assets, net consisted of the following:
As of
December 31, 2025December 31, 2024
(in thousands)
Gross AssetsAccumulated
Amortization 		Net AssetsGross AssetsAccumulated
Amortization 		Net Assets
Developed technology$166,200 $(24,534)$141,666 $96,700 $(10,575)$86,125 
Contract based royalty asset5,900 (3,073)2,827 5,900 (1,598)4,302 
Internal use software— — — 9,434 (9,434)— 
Purchased software3,454 (581)2,873 15,551 (11,920)3,631 
Total amortizable intangible assets$175,554 $(28,188)$147,366 $127,585 $(33,527)$94,058 
In-process research and development— — — 69,500 — 69,500 
Total intangible assets$175,554 $(28,188)$147,366 $197,085 $(33,527)$163,558 
Amortization expense for intangible assets was $16.6 million, $14.0 million, and $2.9 million, for the years ended December 31, 2025, 2024, and 2023, respectively.
The estimated aggregate future amortization expense for intangible assets and subject to amortization as of December 31, 2025 is summarized as below:
(in thousands)
2026$23,859 
202723,487 
202821,720 
202919,850 
203019,799 
2031 and beyond38,651 
$147,366 
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
As of
December 31, 2025December 31, 2024
(in thousands)
Accrued payroll and related benefits$14,007 $12,381 
Revenue reserves3,655 3,673 
Sales based earnout liability, current35,007 23,953 
Acquisition consideration payable, current— 37,760 
Short term lease liability2,478 2,744 
Other accrued expenses7,531 5,044 
Total accrued expenses and other current liabilities$62,678 $85,555 
Other Non-current Liabilities
Other non-current liabilities consisted of the following:
As of
December 31, 2025December 31, 2024
(in thousands)
Sales based earnout liability, non-current$53,346 $73,303 
Long term lease liability1,132 3,488 
Other non-current liabilities$34 $— 
Total other non-current liabilities$54,512 $76,791