
(in thousands)	June 30, 2026		December 31, 2025
Raw materials (net of reserves)	$	5,441	$	8,357
Work in progress	243		395
Finished goods	2,942		199
	$	8,626	$	8,951

Inventory, current portion	$	3,185	$	3,258
Inventory, non-current portion (1)	$	5,441	$	5,693

1) Non-current inventory presented as part of Other non-current assets in the Unaudited Condensed Consolidated Balance Sheets

The inventory reserve was $5.7 million and $21.1 million as of June 30, 2026 and December 31, 2025, respectively. During the six months ended June 30, 2026, the Company decreased its lower-of-cost-and-net-realizable-value inventory

reserve by $15.4 million. During the six months ended June 30, 2025, the Company recognized provision for inventory reserve of $3.8 million. The decrease during the six months ended June 30, 2026 was primarily attributable to the sale of certain battery pack inventory for which a reserve had previously been recorded. As a result, the related inventory reserve was utilized against the carrying value of the inventory disposed of during the period. In connection with this transaction, the Company reduced gross inventory by $17.3 million, utilized $15.4 million of previously recorded inventory reserves, recognized proceeds from the sale of $1.6 million, and recorded a loss on disposal of $0.3 million.