In November 2025, the Company approved a restructuring plan to improve cost efficiency and better align the operating structure with its long-term strategies and current market conditions. The plan involved reducing the Company’s global workforce by approximately 250 employees and impacted all business and functional areas.

For the year ended December 31, 2025, the Company has recognized restructuring charges totaling $13.9 million in its consolidated statements of operations, which consisted primarily of one-time employee termination benefits such as severance and related payroll taxes, post-termination medical benefits, and other related costs. The plan is expected to be substantially completed by the end of the first half of 2026.

The following table summarizes the restructuring charges by functional areas (in thousands):


	Year Ended December 31, 2025
Cost of revenue, excluding depreciation and amortization of intangible assets	$	2,305
Research and development		7,950
Selling, general and administrative		3,633
Total restructuring charges	$	13,888

The following table shows the amount of restructuring charges incurred and paid during the year ended December 31, 2025 (in thousands):


	Amounts
Accrued restructuring charges at December 31, 2024	$	—
Restructuring charges incurred during the period		13,888
Amounts paid during the period		(5,152	)
Accrued restructuring charges at December 31, 2025	$	8,736