v3.26.1
RESTRUCTURING AND EXIT ACTIVITIES COSTS
 6 Months Ended
Jun. 30, 2026
Restructuring and Related Activities [Abstract]  
RESTRUCTURING AND EXIT ACTIVITIES COSTS
NOTE 14- RESTRUCTURING AND EXIT ACTIVITIES COSTS

The Company incurs restructuring charges in connection with strategic initiatives and cost-reduction efforts aimed at optimizing business operations. A description of significant restructuring plans and other restructuring charges is provided below.
2025 Restructuring Plan
In 2025, in response to continuing macroeconomic challenges impacting the Company’s financial performance, the Company implemented a series of cost savings and restructuring initiatives (the "2025 Restructuring Plan") as part of its ongoing multi-faceted transformation strategy.
Restructuring and other related charges under the 2025 Restructuring Plan were primarily cash charges related to severance and termination benefits incurred as a result of headcount reductions, which were generally recognized when probable and estimable consistent with the Company’s past practices or statutory law. The Company does not expect to incur significant additional restructuring charges in 2026 related to the 2025 Restructuring Plan.
These charges are reflected in the following captions in the accompanying Condensed Consolidated Statements of Operations as follows:                                                                                                
Three Months EndedSix Months Ended
(in thousands)June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Cost of sales$— $838 $— $1,001 
Selling, general, and administrative expenses— 3,622 88 4,180 
Research and development— 685 159 961
Total$— $5,145 $247 $6,142 

There were no restructuring and other related charges recorded in cost of sales for the three and six months ended June 30, 2026. Restructuring and other related charges recorded in cost of sales by reportable segment for the three and six months ended June 30, 2025 were as follows:
Three Months EndedSix Months Ended
(in thousands)June 30, 2025June 30, 2025
Healthcare Solutions$458 $512 
Industrial Solutions380 489 
Total$838 $1,001 

The activity in the restructuring accrual related to the 2025 Restructuring Plan was as follows:
Six Months Ended
(in thousands)June 30, 2026June 30, 2025
Balance at beginning of period
$1,230 $— 
Costs incurred and other adjustments to accrued liability during the period
247 6,142 
Amounts settled with cash
(1,448)(1,962)
Balance at the end of period
$29 $4,180