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Inventories, Net
3 Months Ended
Mar. 31, 2026
Inventory Disclosure [Abstract]  
Inventories, Net Inventories, Net
The following table presents the Company’s inventories, net ($ in thousands):
March 31, 2026December 31, 2025
Finished goods53,269 45,848 
Raw materials24,254 23,106 
Work in progress8,438 5,791 
Inventories, net85,961 74,745 
The Company writes down inventory for any excess or obsolete inventory or when the Company believes that the net realizable value of inventory is less than the carrying value. The Company recorded write-downs in inventory, which were included in cost of product revenue, of $0.2 million and insignificant amounts in the first quarter of 2026 and 2025, respectively.