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Restructuring and Related Activities
 9 Months Ended
Sep. 30, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities Disclosure RESTRUCTURING AND BUSINESS TRANSFORMATION
In August 2025, the Company announced a multi-year productivity plan (the “Plan”). The Plan includes several initiatives that are intended to drive sustainable growth, improve operating leverage, and amplify the Company’s ability to invest in innovation and serve more patients. These savings are expected to primarily come from general and administrative efficiencies, that in addition to restructuring certain support functions globally, include external spend optimization, and building more automation in core operations. The Company began incurring insignificant charges related to the business transformation efforts in 2024, primarily related to consulting services. The Company currently expects to incur additional business transformation costs of approximately $20 million through the completion of certain initiatives already underway, which are expected to be completed by the fourth quarter of 2026. The Company continues to pursue cost savings initiatives, and to the extent further cost saving initiatives are identified, the Company could incur additional charges to implement those business transformation initiatives in future periods.
The Company recorded the following charges related to the Plan for the three and nine months ended September 30, 2025.
(In thousands)
Three Months Ended
Nine Months Ended
Restructuring charges
$15,289 $26,388 
Business transformation costs (1)
17,291 46,220 
Total restructuring and business transformation
$32,580 $72,608 
______________
(1)Business transformation costs represent non-recurring expenses for strategic projects with anticipated long-term benefits to the Company focused on cost reduction and productivity improvement that do not meet the definition of restructuring charges. For the three and nine months ended September 30, 2025, these costs primarily include consulting services, and employee termination benefits.
The restructuring charges were recorded as follows within the condensed consolidated statement of operations:
Three Months Ended September 30, 2025
Cost of salesResearch and developmentSales and marketingGeneral and administrativeTotal
Employee termination costs
$— $74 $483 $13,139 $13,696 
Other costs
— — — 1,593 1,593 
Total restructuring charges$— $74 $483 $14,732 $15,289 
Nine Months Ended September 30, 2025
Cost of salesResearch and developmentSales and marketingGeneral and administrativeTotal
Employee termination costs
$85 $554 $3,154 $15,139 $18,932 
Other costs
— — — 7,456 7,456 
Total restructuring charges$85 $554 $3,154 $22,595 $26,388 
The following table summarizes activity in the liability related to the Company’s restructuring initiatives:
(In thousands)Employee Termination Costs
Other Costs
Total
Balance, December 31, 2024
$— $— $— 
Charges18,932 7,456 26,388 
Payments(3,176)(6,590)(9,766)
Adjustments (1)
533 — 533 
Balance, September 30, 2025
$16,289 $866 $17,155 
______________
(1)Adjustments relate to the effects of foreign currency exchange rates.
The Company does not expect to incur additional significant costs related to this restructuring. Substantially all of the cash payments for the liability are expected to be disbursed by mid 2026.