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INVENTORIES, NET
9 Months Ended
Sep. 30, 2023
Inventory Disclosure [Abstract]  
INVENTORIES, NET INVENTORIES, NET
 
The following table reflects the components of inventory, net as of September 30, 2023 and December 31, 2022 (in thousands): 
 September 30, 2023December 31, 2022
Raw materials$15,355 $1,367 
Work-in-process1,330 2,735 
Finished goods26,025 9,594 
Total inventories, net$42,710 $13,696 
    
The Company writes down the value of inventory for potentially excess or obsolete inventories based on an analysis of inventory on hand and projected demand. As of September 30, 2023 and December 31, 2022, the Company recorded inventory write-downs of $5.7 million and $2.8 million, respectively.