Inventory

9 Months Ended

Sep. 30, 2026

Inventory consisted of the following (in thousands):


	September 30, 2026		December 31, 2025
Raw materials	$	2,463	$	2,612
Semi-finished goods	8,024		7,591
Finished goods	8,014		1,342
Total inventory	$	18,501	$	11,545

Inventory write-downs as a result of excess, obsolescence, expiry, or other reasons, and losses on firm purchase commitments, offset by recoveries of such commitments, are recorded as a component of cost of sales in the Company’s

consolidated statements of operations. During the three and nine months ended September 30, 2026, the Company recorded inventory write-downs of $1.6 million and $3.2 million, respectively. During the three and nine months ended September 30, 2026, the Company recognized $2.1 million and $6.3 million losses on firm purchase commitments, respectively. During the three and nine months ended September 30, 2025, the Company recorded $0.5 million and $1.9 million, respectively, of inventory write-downs and losses on firm purchase commitments.