Balance Sheet Components (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
| Schedule of Accounts Receivable, net |
Accounts receivable, net consisted of the following:
| | | | | | | | | | | | | (In thousands) | March 31, 2026 | | December 31, 2025 | | Accounts receivable | $ | 68,093 | | | $ | 66,890 | | | Less: allowance for expected credit losses | (1,093) | | | (1,199) | | | Accounts receivable, net | $ | 67,000 | | | $ | 65,691 | |
|
| Schedule of Movement of Allowance |
Movement of allowance for expected credit losses was as follows:
| | | | | | | | | | | | | | | | | Three Months Ended March 31, | | (In thousands) | 2026 | | 2025 | | | | | | Beginning balance | $ | 1,199 | | | $ | 1,557 | | | | | | | | | | | | | | | Credit for expected credit losses | 25 | | | 619 | | | | | | | Bad debt write-offs | (131) | | | (2) | | | | | | | Ending balance | $ | 1,093 | | | $ | 2,174 | | | | | |
|
| Schedule of Prepaid Expenses and Other Current Assets |
Prepaid expenses and other current assets consisted of the following:
| | | | | | | | | | | | | (In thousands) | March 31, 2026 | | December 31, 2025 | | Prepaid expenses | $ | 2,454 | | | $ | 5,641 | | | Advances to suppliers | 780 | | | 1,514 | | | Other current assets | 2,862 | | | 2,570 | | | Prepaid expenses and other current assets | $ | 6,096 | | | $ | 9,725 | |
|
| Schedule of Assets Held for Sale |
Assets held for sale consisted of the following:
| | | | | | | | | | | | | (In thousands) | March 31, 2026 | | December 31, 2025 | | Buildings | $ | — | | | $ | 2,034 | | | Land | — | | | 734 | | | Assets held for sale | $ | — | | | $ | 2,768 | |
|
| Schedule of Property and Equipment |
Property and equipment, net consisted of the following:
| | | | | | | | | | | | | (In thousands) | March 31, 2026 | | December 31, 2025 | Automobiles (1) | $ | 64,994 | | | $ | 65,202 | | | Buildings | 64,758 | | | 60,648 | | Building improvements (1) | 41,116 | | | 41,182 | | | Furniture and fixtures | 487 | | | 489 | | | Land | 57,720 | | | 49,180 | | Machinery and equipment (1) | 14,708 | | | 14,500 | | | Construction in progress | 4,398 | | | 2,493 | | | Subtotal | 248,181 | | | 233,694 | | | Less: accumulated depreciation | (71,677) | | | (70,297) | | | Property and equipment, net | $ | 176,504 | | | $ | 163,397 | |
_________________ (1) The cost and accumulated depreciation of property and equipment related to finance leases was $50.5 million and $22.4 million, respectively, at March 31, 2026 and $50.0 million and $21.1 million, respectively, at December 31, 2025. The total future minimum lease payments under all finance leases as of March 31, 2026 is $42.9 million.
|
| Schedule of Long-Term Investments |
Long-term investments consisted of the following:
| | | | | | | | | | | | | | | | | | | (In thousands) | Ownership as of March 31,
2026 | | March 31, 2026 | | December 31, 2025 | | Asahi Food, Inc. (“Asahi”) | 49.0% | | $ | 296 | | | $ | 344 | | | Pt. Tamron Akuatik Produk Industri (“Tamron”) | 12.0% | | 1,800 | | | 1,800 | | | Total long-term investments | | | $ | 2,096 | | | $ | 2,144 | |
|
| Schedule of Accrued Expenses and Other Liabilities |
Accrued expenses and other liabilities consisted of the following:
| | | | | | | | | | | | | | | | (In thousands) | | March 31, 2026 | | December 31, 2025 | | Accrued compensation | | $ | 6,285 | | | $ | 6,690 | | | Accrued professional fees | | 335 | | | 300 | | | | | | | | Accrued interest and fees | | 766 | | | 862 | | | Self-insurance liability | | 2,011 | | | 1,969 | | | Advance from customers | | 310 | | | 549 | | | Other | | 4,079 | | | 4,624 | | | Total accrued expenses and other liabilities | | $ | 13,786 | | | $ | 14,994 | |
|