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CERTAIN BALANCE SHEET COMPONENTS | 12 Months Ended
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Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract] |
CERTAIN BALANCE SHEET COMPONENTS | CERTAIN BALANCE SHEET COMPONENTS
Inventories: | As of December 31,
(in thousands) | 2024 |  | 2023
Finished goods | $ | 37,634 |  |  | $ | 43,987 |
Raw materials | 14,214 |  |  | 27,806 |
Work-in-process | 2,951 |  |  | 5,056 |
Service-related spares | 9,205 |  |  | 7,133 |
Total | $ | 64,004 |  |  | $ | 83,982 |
Prepaid expenses and other current assets: | As of December 31,
(in thousands) | 2024 |  | 2023
Prepaid expenses | $ | 4,219 |  |  | $ | 3,789 |
Contract assets (1) | 4,288 |  |  | 4,772 |
Other current assets | 13,763 |  |  | 12,389 |
Total | $ | 22,270 |  |  | $ | 20,950 |
(1) Contract assets reflect the satisfied performance obligations for which the Company does not yet have an unconditional right to consideration.
Property and equipment, net: | As of December 31,
(in thousands) | 2024 |  | 2023
Machinery and equipment | $ | 77,710 |  |  | $ | 74,659 |
Capitalized software | 26,882 |  |  | 27,129 |
Leasehold improvements | 25,701 |  |  | 40,931 |
Furniture and fixtures | 2,583 |  |  | 2,547 |
Construction-in-progress | 1,081 |  |  | 1,789 |
Property and equipment, gross | 133,957 |  |  | 147,055 |
Less: accumulated depreciation and amortization | (107,134) |  |  | (110,372) |
Total | $ | 26,823 |  |  | $ | 36,683 |
During the year ended December 31, 2024, the Company recorded a $1.8 million impairment charge for the total capitalized value of internally developed software. Additionally, the Company recognized an impairment charge of $4.3 million related to our leasehold improvements. Refer to Note 3, “Leases” for more details.
Other current liabilities: | As of December 31,
(in thousands) | 2024 |  | 2023
Accrued employee compensation and related expenses | $ | 25,053 |  |  | $ | 22,779 |
Income tax payable | 11,728 |  |  | 4,407 |
Other | 35,659 |  |  | 33,838 |
Total | $ | 72,440 |  |  | $ | 61,024 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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