| Composition of Other Balance Sheet Items |
Composition of Other Balance Sheet Items The following details the composition of other balance sheet items (dollars in thousands for amounts in tables): Inventories, Net | | | | | | | | | | | | | March 31,
2026 | | December 31,
2025 | | (unaudited) | | | | Raw materials | $ | 31,473 | | | $ | 31,833 | | | Work in process | 36,052 | | | 29,436 | | | Finished goods | 19,537 | | | 21,116 | | | Total | $ | 87,062 | | | $ | 82,385 | |
Inventories, net as reported on the condensed consolidated balance sheets are as follows (dollars in thousands): | | | | | | | | | | | | | | | | | | | Balance Sheet Classification | | March 31, 2026 | | December 31, 2025 | | | | (unaudited) | | | | | | | | | | Current inventory | Inventories, net | | $ | 87,062 | | | $ | 82,385 | | | Noncurrent inventory | Other Assets | | 23,709 | | | 30,095 | | | Total | | | $ | 110,771 | | | $ | 112,480 | |
| | | | | | | | | | | | | March 31,
2026 | | December 31,
2025 | | (unaudited) | | | | Lab equipment and furniture | $ | 14,041 | | | $ | 14,041 | | | Leasehold improvements | 13,052 | | | 13,052 | | | Software | 871 | | | 871 | | | Computer equipment | 831 | | | 831 | | | Subtotal | 28,795 | | | 28,795 | | | Less accumulated depreciation and amortization | (18,753) | | | (18,264) | | | Property and equipment, net | $ | 10,042 | | | $ | 10,531 | |
Depreciation and amortization expense on property and equipment was approximately $0.5 million and $0.6 million for the three months ended March 31, 2026 and March 31, 2025 , respectively. Accounts Payable and Accrued Liabilities | | | | | | | | | | | | | March 31,
2026 | | December 31,
2025 | | (unaudited) | | | | Accounts payable | $ | 10,171 | | | $ | 2,677 | | | Accrued compensation, benefits, & related accruals | 24,210 | | | 29,446 | | | Accrued sales & marketing | 16,124 | | | 16,665 | | | Accrued manufacturing expenses | 20,689 | | | 25,608 | | | Accrued R&D expenses | 3,774 | | | 7,299 | | Operating lease liabilities, current portion(a) | 10,636 | | | 10,612 | | Accrued royalties(b) | 1,632 | | | 2,403 | | | Other accrued expenses | 14,008 | | | 13,090 | | | Total | $ | 101,244 | | | $ | 107,800 | |
_______________________________ (a) Refer to Note 13, Leases. (b) Refer to Note 17, Commitments and Contingencies. Accrued Product Returns and Rebates | | | | | | | | | | | | | March 31,
2026 | | December 31,
2025 | | (unaudited) | | | | Accrued product rebates | $ | 152,495 | | | $ | 123,297 | | | Accrued product returns | 37,225 | | | 37,800 | | | Total | $ | 189,720 | | | $ | 161,097 | |
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