In October 2025, the Company began implementing targeted cost-savings initiatives intended to streamline the Company’s organizational structure, improve execution, and enhance stockholder value (the “Restructuring Plan”). The Company announced a voluntary early retirement program and a voluntary exit program available to certain employees in the United States, Asia, and Europe that met the eligibility criteria. Participating employees received acceleration of any unvested RSUs held by the participating employees together with a grant of fully vested shares, such that the total value of the accelerated RSUs and additional shares was equal to four, six, or twelve months of the participating employee’s salary. In connection with the Restructuring Plan, on November 24, 2025, the Company also announced an involuntary reduction in force in the United States, which has continued during the three and nine months ended September 30, 2026. The Company expects to incur up to $5.0 million of costs in connection with the Restructuring Plan that primarily consists of severance costs for 85 terminated employees and other costs such as the site closures as part of its global site strategy. Of the total expected costs, $0.2 million and $2.6 million were incurred during the three and nine months ended September 30, 2026, respectively. The Company expects to complete the Restructuring Plan in 2026.

The Company has $0.5 million and $0.1 million of remaining obligations related to the Restructuring Plan as of September 30, 2026 and December 31, 2025, respectively, which are included in accrued expenses and other current liabilities on the Company’s condensed consolidated balance sheets. The following table presents the change in the Company’s restructuring accrual balances during the reported period (in thousands):


	Employee Compensation		Other		Total
Balance as of December 31, 2025	$	33	$	69	$	102
Charges	2,569		—		2,569
Cash payments	(1,251)		(69)		(1,320)
Non-cash payments	(806)		—		(806)
Balance as of September 30, 2026	$	545	$	—	$	545

Restructuring expenses are included within operating expenses in the condensed consolidated statements of operations as follows during the three and nine months ended September 30, 2026 (in thousands):


	Three Months Ended		Nine Months Ended
Cost of revenue	$	—	$	63
Research and development	—		1,135
Selling and marketing	92		649
General and administrative	83		722
Total	$	175	$	2,569