v3.25.4
SUPPLEMENTAL BALANCE SHEET DISCLOSURES
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
SUPPLEMENTAL BALANCE SHEET DISCLOSURES SUPPLEMENTAL BALANCE SHEET DISCLOSURES
Accounts Receivable, Net
As of December 31, 2025, accounts receivable, net consisted of gross accounts receivable of $28.2 million, less allowance for credit losses of $0.2 million. As of December 31, 2024, accounts receivable, net consisted of gross accounts receivable of $25.6 million, less allowance for credit losses of $0.1 million.
Changes in the allowance for credit losses were as follows:
(In thousands)Year ended December 31, 2025Year ended December 31, 2024Year ended December 31, 2023
Balance at beginning of period$108 $1,552 $994 
Provision (recovery) for credit losses
165 (996)558 
Write-off of uncollectible accounts, net(96)(448)— 
Balance at end of period$177 $108 $1,552 
Inventories
The components of inventories were as follows:
(In thousands)
As of December 31, 2025
As of December 31, 2024
Work in process$9,664 $8,354 
Finished goods44,945 44,750 
Total inventories$54,609 $53,104 
Property and Equipment, Net
Property and equipment, net consisted of the following:
(In thousands)
As of December 31, 2025
As of December 31, 2024
Computer hardware, software and equipment$946 $742 
Furniture and fixture12,225 9,848 
Machinery and equipment613 598 
Internally developed software2,538 1,739 
Construction in process168 — 
Leasehold improvements2,104 2,100 
Total property and equipment$18,594 $15,027 
Less accumulated depreciation(12,354)(9,196)
Property and equipment, net$6,240 $5,831 
Depreciation expense for property and equipment for the years ended December 31, 2025, December 31, 2024, and December 31, 2023, were $3.1 million, $3.3 million, and $3.8 million, respectively.
Depreciation expense pertains to property and equipment utilized as part of the Company’s SG&A activities and therefore has not been allocated to cost of goods sold.
Other Current Liabilities
The major components of other current liabilities consisted of the following:
(In thousands)
As of December 31, 2025
As of December 31, 2024
Accrued salaries and related expenses$4,932 $9,155 
Accrued sales returns and damages6,636 2,723 
Accrued interest(1)
— 1,424 
Accrued professional services5,956 3,832 
Accrued freight
4,111 (220)
Income taxes payable3,610 408 
Other taxes
8,357 (30)
Other6,765 2,268 
Total$40,367 $19,560 
(1) Under the Lumina Credit Agreement, accrued interest is PIK and increases the principal balance of the Term Loan rather than paid in cash. As a result, no accrued interest is recorded in other current liabilities as of December 31, 2025.