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Inventory
3 Months Ended
Mar. 31, 2025
Inventory Disclosure [Abstract]  
Inventory

Note 9—Inventory

Inventory consists of raw materials and spare parts, work in process and finished goods and is stated at the lower of cost (first-in, first-out) or net realizable value. The Company evaluates inventory balances for excess quantities and obsolescence by analyzing estimated demand, inventory on hand, sales levels and other information and reduces inventory balances to net realizable value for excess and obsolete inventory based on this analysis.

Inventory as of December 31, 2024 and March 31, 2025 consisted of the following (in thousands):

    

December 31, 

    

March 31, 

2024

2025

Raw materials and spare parts

$

43,434

$

45,720

Total inventory

$

43,434

$

45,720