In November 2025, the Company approved a restructuring plan to improve cost efficiency and better align the operating structure with its long-term strategies and current market conditions. The plan involved reducing the Company’s global workforce by approximately 250 employees and impacted all business and functional areas.

As a result of the workforce reduction, the Company recognized restructuring charges totaling $13.9 million for the year ended December 31, 2025, primarily consisting of one-time employee termination benefits such as severance and related payroll taxes, post-termination medical benefits, and other related costs. The plan was substantially completed by the end of the first half of 2026.

The following table shows the amount of restructuring charges incurred and paid during the six months ended June 30, 2026 (in thousands):


	Amounts
Accrued restructuring charges at December 31, 2025	$	8,736
Restructuring charges incurred during the period		297
Amounts paid during the period		(8,821	)
Accrued restructuring charges at June 30, 2026	$	212