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Inventory
6 Months Ended
Jun. 30, 2025
Inventory Disclosure [Abstract]  
Inventory

7. INVENTORY

Inventory is stated at the lower of cost and net realizable value. Cost is determined using the first-in, first-out method. Inventory consists of the following:

 

 

 

June 30,

 

 

December 31,

 

(In thousands)

 

2025

 

 

2024

 

Raw materials

 

$

68,423

 

 

$

72,139

 

Work in process

 

 

81,390

 

 

 

79,871

 

Finished goods(1)

 

 

42,111

 

 

 

30,877

 

Total inventory

 

$

191,924

 

 

$

182,887

 

 

(1)
At June 30, 2025 and December 31, 2024, the Company had $33.5 million and $22.7 million, respectively, of finished goods inventory located at its third-party warehouse and shipping service provider.