Retirement Plans |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Retirement Benefits [Abstract] | |
| Retirement Plans | 8. Retirement Plans Employee Benefit Plan The Company maintains 401(k) Plans for all employees who have completed three months of service and have reached age 18. Qualified employees may contribute up to 90% of their pre-tax annual compensation to this plan, not to exceed the dollar limit set by law. The Company may make discretionary matching contributions and discretionary non-elective contributions to this plan. The Company made contributions of $3.9 million, $2.6 million, and $1.6 million made to the plans during the years ended December 31, 2025, 2024 and 2023, respectively. Retirement plan contribution expense is included within either Cost of Goods Sold or General and Administrative expenses on the consolidated statement of operations and comprehensive income (loss), depending on the nature of the employee’s work. Nonqualified Deferred Compensation Plan The Company implemented a nonqualified deferred compensation plan (the “Deferred Plan”) under which a select group of management may make voluntary contributions that defer a portion of their compensation up to the maximum dollar amount under Section 409A of the Internal Revenue Code (IRC). The assets of the plan are the legal assets of the Company until they are distributed to the participants, and, therefore, the plan assets and a corresponding liability are reported on the accompanying consolidated balance sheets. Amounts owed to plan participants are unsecured obligations of the Company. The Company has established a rabbi trust in which it will make contributions to fund its obligations under the Deferred Plan. Pursuant to the terms of the trust, the Company will be required to make contributions each year to fully match its obligations under the Deferred Plan. The trust’s funds are invested in corporate owned life insurance (COLI) and the Company plans to hold the policies until the death of the insured. The Company’s investments in COLI policies totaled $0.9 million as of December 31, 2024. There are no significant actuarial assumptions that affect the values of the Deferred Plan and given the limited number of participants, the impacts of the Deferred Plan are not material to the Company’s financial statements. This Deferred Plan was terminated during the first quarter of 2025. |