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CERTAIN BALANCE SHEET COMPONENTS
 12 Months Ended
Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]  
CERTAIN BALANCE SHEET COMPONENTS CERTAIN BALANCE SHEET COMPONENTS
Inventories:As of December 31,
(in thousands)20242023
Finished goods$37,634 $43,987 
Raw materials14,214 27,806 
Work-in-process2,951 5,056 
Service-related spares9,205 7,133 
Total$64,004 $83,982 
Prepaid expenses and other current assets:As of December 31,
(in thousands)20242023
Prepaid expenses$4,219 $3,789 
Contract assets (1)
4,288 4,772 
Other current assets13,763 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)20242023
Machinery and equipment$77,710 $74,659 
Capitalized software26,882 27,129 
Leasehold improvements25,701 40,931 
Furniture and fixtures2,583 2,547 
Construction-in-progress1,081 1,789 
Property and equipment, gross133,957 147,055 
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)20242023
Accrued employee compensation and related expenses$25,053 $22,779 
Income tax payable11,728 4,407 
Other35,659 33,838 
Total$72,440 $61,024