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COMMITMENTS AND CONTINGENCIES | 6 Months Ended
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Jun. 30, 2025
Commitments and Contingencies Disclosure [Abstract] |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Operating Leases The Company leases office facilities under noncancellable operating leases that expire on various dates through 2034, some of which may include options to extend the leases for up to 12 years. The components of lease expense are presented as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |
| (In thousands)
Operating lease costs | $ | 4,106 |  |  | $ | 2,675 |  |  | $ | 6,923 |  |  | $ | 5,322 |  |  |
The components of right of use assets and lease liabilities are presented as follows:
| June 30, 2025 |  | December 31, 2024
| (In thousands, except years and percentage data)
Operating Leases: |  |  |
Operating lease, right of use asset, net (Other assets) | $ | 25,776 |  |  | $ | 24,617 |
Operating lease liabilities, current (Accrued liabilities) | $ | 6,079 |  |  | $ | 5,815 |
Operating lease liabilities, non-current (Other liabilities) | 25,940 |  |  | 23,044 |
Total operating lease liabilities | $ | 32,019 |  |  | $ | 28,859 |
Supplemental lease information: |  |  |
Weighted average remaining lease term | 6.3 years |  | 5.9 years
Weighted average discount rate | 6.6% |  | 6.7%
Supplemental cash flow and other information related to operating leases were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |
| (In thousands)
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 2,186 |  |  | $ | 1,699 |  |  | $ | 4,317 |  |  | $ | 3,604 |  |  |
Non-cash investing activities: |  |  |  |  |  |  |  |  |
Lease liabilities arising from obtaining right-of-use assets | $ | — |  |  | $ | 655 |  |  | $ | 7,260 |  |  | $ | 2,350 |  |  |
Undiscounted cash flows of operating lease liabilities as of June 30, 2025 were as follows:
| Lease Amounts
| (In thousands)
Year: |
2025 (remaining six months) | $ | 4,010 |
2026 | 7,872 |
2027 | 5,504 |
2028 | 4,544 |
2029 | 4,477 |
Thereafter | 13,196 |
Total lease payments | 39,603 |
Less: imputed lease interest | (7,584) |
Total lease liabilities | $ | 32,019 |
Purchase Obligations The Company has contractual obligations related to component inventory that its contract manufacturers procure on its behalf in accordance with its production forecast as well as other inventory related purchase commitments. As of June 30, 2025, these purchase obligations totaled approximately $182.3 million Litigation The Company is subject to various legal proceedings and claims that have arisen in the ordinary course of business and that have not been fully resolved. An accrual for a loss contingency or loss recovery is recognized when it is probable and the amount of loss or recovery can be reasonably estimated. The outcome of litigation is inherently uncertain. If one or more legal matters were resolved against the Company in a reporting period for amounts above management’s expectations, the Company’s business, results of operations, financial position and cash flows for that reporting period could be materially adversely affected. As of June 30, 2025, in the opinion of management, there was not at least a reasonable possibility the Company may have incurred a material loss, or a material loss greater than a recorded accrual, concerning loss contingencies for asserted legal and other claims.

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