v3.26.1
Inventory
 6 Months Ended
Jun. 30, 2026
Inventory Disclosure [Abstract]  
Inventory Inventory
As of June 30, 2026 and December 31, 2025 inventory consisted of the following:

(in thousands)June 30, 2026December 31, 2025
Work in progress $19,692 $18,390 
Finished goods 568 95 
Total inventory, net$20,260 $18,485 
Less long-term portion (1)
15,328 14,301 
Total inventory, current$4,932 $4,184 
(1) Inventory expected to be sold beyond the Company’s 12-month operating cycle is classified as non-current inventory and recorded in inventory, long-term.

Inventory write-downs of $171 and $1,644 were recognized for the three and six months ended June 30, 2026 respectively, and $390 and $1,636 were recognized for the three and six months ended June 30, 2025, respectively, and charged to cost of product sales in the Company’s unaudited condensed consolidated statements of operations.