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

4. Inventory

 

The Company’s inventory consisted of the following as of June 30, 2025 and December 31, 2024 (in thousands):

 

 

 

June 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Raw materials

 

$

56,431

 

 

$

54,385

 

Semi-finished goods

 

 

101,181

 

 

 

92,872

 

Finished goods

 

 

11,516

 

 

 

9,860

 

Total inventory

 

$

169,128

 

 

$

157,117

 

 

The Company's long-term inventory balance consists of raw materials as of June 30, 2025, and raw materials and semi-finished goods as of December 31, 2024, that are not expected to be sold within the Company's normal operating cycle.

Inventory amounts written down as a result of excess, obsolescence, unmarketability or other reasons are charged to cost of sales. The Company's reserve for excess and obsolete inventory was $20.4 million and $19.0 million as of June 30, 2025 and December 31, 2024, respectively.