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DISCONTINUED OPERATIONS (Tables)
 12 Months Ended
Dec. 31, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Disclosure of Disposal Groups The following table summarizes the carrying values of the assets and liabilities classified as held-for-sale in our consolidated balance sheet as of December 31, 2025:

 

 

 

 

As of December 31,

(in thousands)

 

 

 

2025

 

2024

Assets

 

 

 

 

 

 

 

 

Accounts receivable, net

 

 

 

$

38,895

 

$

34,289

Inventories

 

 

 

 

23,890

 

 

20,944

Prepaids and other current assets

 

 

 

 

13,207

 

 

12,714

Property and equipment, net

 

 

 

 

1,296

 

 

1,661

Goodwill

 

 

 

 

123,479

 

 

176,103

Deferred income taxes, net

 

 

 

 

8,742

 

 

7,122

Other non-current assets

 

 

 

 

14,452

 

 

14,178

Total assets held for sale

 

 

 

$

223,961

 

$

267,011

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Current portion of other borrowings

 

 

 

$

5,605

 

$

4,941

Accounts payable

 

 

 

 

8,004

 

 

6,932

Deferred revenue

 

 

 

 

26,577

 

 

32,684

Other current liabilities

 

 

 

 

22,936

 

 

17,695

Other long-term borrowings

 

 

 

 

8,076

 

 

8,694

Other non-current liabilities

 

 

 

 

14,473

 

 

16,020

Total liabilities to be disposed of

 

 

 

$

85,671

 

$

86,966

The operating results of the discontinued operations only reflect revenues and expenses that are directly attributable to the Video business that will be eliminated from continuing operations. The following table presents key components of "Loss from discontinued operations, net of tax" for the years ended December 31, 2025, 2024 and 2023:

 

Year Ended December 31,

(in thousands)

2025

 

2024

 

2023

Revenue

$

210,317

 

$

190,522

 

$

219,425

Cost of revenue

 

68,614

 

 

64,708

 

 

85,001

Total gross profit

 

141,703

 

 

125,814

 

 

134,424

Operating expenses:

 

 

 

 

 

 

 

 

Research and development

 

46,955

 

 

48,401

 

 

56,574

Selling, general and administrative

 

73,969

 

 

73,955

 

 

85,396

Impairment of goodwill

 

57,521

 

 

—

 

 

—

Asset impairment and other charges

 

—

 

 

1,824

 

 

—

Restructuring and related charges

 

422

 

 

13,232

 

 

311

Total operating expenses

 

178,867

 

 

137,412

 

 

142,281

Loss from discontinued operations

 

(37,164)

 

 

(11,598)

 

 

(7,857)

Interest expense, net

 

(699)

 

 

(861)

 

 

(669)

Other income (expense), net

 

1,116

 

 

(1,144)

 

 

(178)

Loss from discontinued operations before income taxes

 

(36,747)

 

 

(13,603)

 

 

(8,704)

Provision for (benefit from) income taxes

 

7,779

 

 

(2,102)

 

 

(4,360)

Loss from discontinued operations, net of tax

$

(44,526)

 

$

(11,501)

 

$

(4,344)

 

Cash flows related to discontinued operations have not been segregated and are included in the Consolidated Statements of Cash Flows for all periods presented. The following table provides selected financial information related to cash flows from discontinued operations:

 

Year Ended December 31,

(in thousands)

2025

 

2024

 

2023

Cash provided by operating activities

$

2,532

 

$

2,778

 

$

1,754

Cash used in investing activities

 

(801)

 

 

(1,775)

 

 

(718)

Cash used in financing activities

$

(1,731)

 

$

(1,003)

 

$

(1,036)