Summary of Significant Accounting Policies (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Summary of Significant Accounting Policies [Abstract] |
|
| Schedule of Allowance for Credit Losses |
The Company had the following
activity in its allowance for credit losses (in thousands):
| |
|
Years Ended December 31, |
|
| |
|
2025 |
|
|
2024 |
|
|
2023 |
|
| Balance at beginning of period |
|
$ |
1,100 |
|
|
$ |
26 |
|
|
$ |
1 |
|
| Additions charged to expense |
|
|
804 |
|
|
|
1,075 |
|
|
|
25 |
|
| Reductions to allowance, net |
|
|
(1,516 |
) |
|
|
(1 |
) |
|
|
— |
|
| Balance at end of period |
|
$ |
388 |
|
|
$ |
1,100 |
|
|
$ |
26 |
|
|
| Schedule of Estimated Useful Lives |
Property and equipment are depreciated using the straight-line method over the estimated useful lives
of the respective assets, ranging from 1 to 17 years, as follows:
| |
|
Years |
| Equipment |
|
5 - 10 |
| Furniture and fixtures |
|
2 - 7 |
| Office equipment |
|
3 - 5 |
| Leasehold improvements |
|
1 - 17 |
|
| Schedule of Accrued Sales Returns |
The Company had the following
activity for accrued sales returns (in thousands):
| | |
Years Ended December 31, | |
| | |
2025 | | |
2024 | | |
2023 | |
| Balance at beginning of period | |
$ | 6,515 | | |
$ | 5,404 | | |
$ | 5,107 | |
| Additions that reduced net revenue | |
| 27,129 | | |
| 38,913 | | |
| 34,090 | |
| Deduction from reserves for current year returns | |
| (29,152 | ) | |
| (37,802 | ) | |
| (33,793 | ) |
| Balance at end of period | |
$ | 4,492 | | |
$ | 6,515 | | |
$ | 5,404 | |
|
| Schedule of Accrued Warranty Liabilities |
The Company had the following
activity for accrued warranty liabilities (in thousands):
| | |
Years Ended December 31, | |
| | |
2025 | | |
2024 | | |
2023 | |
| Balance at beginning of period | |
$ | 32,205 | | |
$ | 35,591 | | |
$ | 24,463 | |
| Additions (deductions) charged to cost of sales | |
| (1,479 | ) | |
| 3,291 | | |
| 5,866 | |
| Additions that reduced net revenue | |
| 5,773 | | |
| 6,288 | | |
| 11,996 | |
| Deductions from reserves for current year claims | |
| (9,788 | ) | |
| (12,965 | ) | |
| (6,734 | ) |
| Balance at end of period | |
$ | 26,711 | | |
$ | 32,205 | | |
$ | 35,591 | |
|
| Schedule of Level 3 Liability Activity |
The following table summarizes
the Company’s total Level 3 liability activity for the years ended December 31, 2025 and 2024 (in thousands):
| | |
Warrants | | |
Total
Level 3
Liabilities | |
| Fair value as of December 31, 2023 | |
$ | — | | |
$ | — | |
| Initial measurement at time of issuance | |
| 19,571 | | |
| 19,571 | |
| Change in valuation inputs(a) | |
| (3,504 | ) | |
| (3,504 | ) |
| Fair value as of December 31, 2024 | |
$ | 16,067 | | |
$ | 16,067 | |
| Initial measurement at time of issuance | |
| 17,285 | | |
| 17,285 | |
| Change in valuation inputs(a) | |
| (17,202 | ) | |
| (17,202 | ) |
| Fair value as of December 31, 2025 | |
$ | 16,150 | | |
| 16,150 | |
| (a) | Changes in valuation inputs are recognized as the change in fair value – warrant liabilities in the consolidated statement of operations. |
|