v3.26.1
2025 Restructuring Costs
3 Months Ended
Mar. 31, 2026
Restructuring Charges [Abstract]  
2025 Restructuring Costs

3. 2025 Restructuring Plan

On May 12, 2025, the Company initiated a restructuring plan designed to improve operational efficiencies, reduce operating costs, better align the Company's workforce with top strategic priorities and key growth opportunities, and exit over time some of the Company's lower margin products outside of the ADAS application (the "2025 Restructuring Plan"). The 2025 Restructuring Plan includes, but is not limited to, consolidation of facilities, reduction of workforce in various geographic locations, impairment of certain intangible assets related to intellectual property licenses and early termination of certain contractual obligations.

The 2025 Restructuring Plan was deemed to be fundamentally different from the Company's ongoing productivity action due to its size, nature and frequency. As a result, all pre-tax charges related to such initiatives are separately reflected in Restructuring costs in the consolidated statement of operations for the year ended December 31, 2025. Liabilities associated with the 2025 Restructuring Plan are included in Accrued payroll liabilities and Accrued expenses and other current liabilities in the condensed consolidated balance sheet for personnel and non-personnel related charges, respectively. The following table summarizes the respective payments and remaining accrued balance as of March 31, 2026:

 

 

Personnel Cost

 

 

Long-Lived Asset Impairment

 

 

Other Exit Costs

 

 

Total

 

Balance as of December 31, 2025

 

$

1,137

 

 

$

 

 

$

 

 

$

1,137

 

  Provision for net charges incurred

 

 

 

 

 

 

 

 

 

 

 

 

  Cash payments

 

 

(653

)

 

 

 

 

 

 

 

 

(653

)

  Non-cash reductions

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of March 31, 2026

 

$

484

 

 

$

 

 

$

 

 

$

484

 

The 2025 Restructuring Plan was completed as of December 31, 2025.