Note 19. Restructuring

On August 5, 2025, the Company initiated a restructuring plan (the Plan) designed to reduce fixed costs and optimize its operational footprint. The Plan provided for the consolidation of three warehouses and one manufacturing facility into the Company’s other facilities and was completed as of June 30, 2026.

During the three months ended March 31, 2026, the Plan was expanded to include an additional warehouse facility that is currently leased to a non-related party in Fond du Lac, Wisconsin.

During the three months ended June 30, 2026, the Plan was revised to retain the manufacturing facility to help meet demand relating to the datacenter & critical power market. The revised plan did not include any costs related to this facility.

Total restructuring charges related to equipment relocation and footprint optimization within the Plan incurred during the three and six months ended June 30, 2026 were $45 and $917, respectively, recorded in cost of sales in the Condensed Consolidated Statements of Comprehensive Income (Loss). Total cumulative restructuring charges incurred related to equipment relocation and footprint optimization within the Plan are $1,781. Total impairment expense and asset write downs during the three and six months ended June 30, 2026, were zero and $1,544, respectively, recorded in impairment of long-lived assets in the Condensed Consolidated Statements of Comprehensive Income (Loss). Total cumulative restructuring charges incurred related to asset-write downs and related charges within the Plan are $1,670. The Company expects to incur no additional charges under the Plan and considers it complete as of June 30, 2026. In total, the Company incurred restructuring charges of $3,451 related to the execution of the Plan. Changes in accrued restructuring charges during the six months ended June 30, 2026, were as follows:

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