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Leases (Tables) | 9 Months Ended
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Sep. 30, 2025
Leases [Abstract] |
Schedule of Components of Lease Expense and Cash Flow Information | The following table summarizes the lease expense by category in the Consolidated Statements of Income:
(in thousands) |  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Cost of sales |  | $ | 3,096 |  |  | $ | 1,935 |  |  | $ | 7,770 |  |  | $ | 5,719 |
Research and development expenses |  | 101 |  |  | 82 |  |  | 261 |  |  | 247 |
Selling, general and administrative expenses |  | 84 |  |  | 45 |  |  | 188 |  |  | 187 |
Interest expense |  | 30 |  |  | 2 |  |  | 71 |  |  | 7 |
Total |  | $ | 3,311 |  |  | $ | 2,064 |  |  | $ | 8,290 |  |  | $ | 6,160 |
The following table summarizes the components of lease expense:
(in thousands) |  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease cost |  | $ | 2,493 |  |  | $ | 1,531 |  |  | $ | 6,187 |  |  | $ | 4,595 |
Finance lease cost |  |  |  |  |  |  |  |
Amortization of right-of-use (“ROU”) asset |  | 107 |  |  | 16 |  |  | 258 |  |  | 50 |
Interest expense |  | 30 |  |  | 2 |  |  | 71 |  |  | 7 |
Short-term lease cost |  | 267 |  |  | 265 |  |  | 529 |  |  | 838 |
Variable lease cost |  | 414 |  |  | 250 |  |  | 1,245 |  |  | 670 |
Total lease cost, net |  | $ | 3,311 |  |  | $ | 2,064 |  |  | $ | 8,290 |  |  | $ | 6,160 |
The following table presents supplemental cash flow information related to leases:
(in thousands) |  | For the Nine Months Ended September 30,
|  | 2025 |  | 2024
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows paid for operating leases |  | $ | 5,669 |  |  | $ | 4,525 |
Operating cash flows paid for interest portion of finance leases |  | 71 |  |  | 7 |
Financing cash flows paid for principal portion of finance leases |  | 238 |  |  | 57 |
ROU assets obtained in exchange for lease obligations |  |  |  |
Operating leases |  | 35,699 |  |  | 1,139 |
Finance leases |  | 1,730 |  |  | — |
Schedule of Supplemental Balance Sheet Information Related to Leases | The following table presents supplemental balance sheet information related to leases:
(in thousands) |  | September 30, 2025 |  | December 31, 2024
Operating lease ROU assets, net |  | $ | 54,488 |  |  | $ | 23,275 |
Operating lease liabilities, current |  | 5,899 |  |  | 4,503 |
Operating lease liabilities, non-current |  | 51,040 |  |  | 20,663 |
Total operating lease liabilities |  | $ | 56,939 |  |  | $ | 25,166 |
Finance lease ROU assets, net 1 |  | $ | 1,640 |  |  | $ | 78 |
Finance lease liabilities, current |  | 368 |  |  | 78 |
Finance lease liabilities, non-current |  | 1,311 |  |  | 16 |
Total finance lease liabilities |  | $ | 1,679 |  |  | $ | 94 |
1.Included in Property, plant and equipment, net for finance leases on the Consolidated Balance Sheets.
Schedule of Maturity Analysis of Operating Lease Liabilities | The following table presents maturity analysis of lease liabilities as of September 30, 2025:
(in thousands) |  | Operating Leases |  | Finance Leases
Nine months ending December 31, 2025 |  | $ | 2,214 |  |  | $ | 128 |
Year ending December 31, 2026 |  | 10,101 |  |  | 451 |
Year ending December 31, 2027 |  | 10,328 |  |  | 434 |
Year ending December 31, 2028 |  | 9,486 |  |  | 434 |
Year ending December 31, 2029 |  | 8,652 |  |  | 415 |
Year ending December 31, 2030 |  | 7,261 |  |  | 75 |
Thereafter |  | 28,104 |  |  | — |
Total undiscounted lease payments |  | 76,146 |  |  | 1,937 |
Less: imputed interest |  | 19,207 |  |  | 258 |
Total lease liabilities |  | $ | 56,939 |  |  | $ | 1,679 |
Schedule of Maturity Analysis of Financing Lease Liabilities | The following table presents maturity analysis of lease liabilities as of September 30, 2025:
(in thousands) |  | Operating Leases |  | Finance Leases
Nine months ending December 31, 2025 |  | $ | 2,214 |  |  | $ | 128 |
Year ending December 31, 2026 |  | 10,101 |  |  | 451 |
Year ending December 31, 2027 |  | 10,328 |  |  | 434 |
Year ending December 31, 2028 |  | 9,486 |  |  | 434 |
Year ending December 31, 2029 |  | 8,652 |  |  | 415 |
Year ending December 31, 2030 |  | 7,261 |  |  | 75 |
Thereafter |  | 28,104 |  |  | — |
Total undiscounted lease payments |  | 76,146 |  |  | 1,937 |
Less: imputed interest |  | 19,207 |  |  | 258 |
Total lease liabilities |  | $ | 56,939 |  |  | $ | 1,679 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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