INVENTORY	12 Months Ended
Dec. 31, 2024
INVENTORY
INVENTORY	4. INVENTORY Inventory consisted of raw material of natural flake graphite concentrate provided by a third-party vendor totaling $0.5 million and $4.8 million as of December 31, 2024 and 2023, respectively. At December 31, 2024, $0.3 million of raw material inventory was under contract to be sold and $0.2 million of raw material inventory will be used to produce samples within the next twelve months. The full balance of inventory as of December 31, 2024, is included in the “Prepaid and other current assets” line item on the Consolidated Balance Sheets. At December 31, 2023, the inventory balance was within the “Other long-term assets” line item on the Consolidated Balance Sheets. For the year ended December 31, 2024, the Company recognized a $1.0 million write-down of inventory based on the net realizable value of committed sales of raw material inventory. For the year ended December 31, 2023, there was no write-down of the Company’s inventory.

INVENTORY

12 Months Ended

Dec. 31, 2024

4. INVENTORY

Inventory consisted of raw material of natural flake graphite concentrate provided by a third-party vendor totaling $0.5 million and $4.8 million as of December 31, 2024 and 2023, respectively. At December 31, 2024, $0.3 million of raw material inventory was under contract to be sold and $0.2 million of raw material inventory will be used to produce samples within the next twelve months. The full balance of inventory as of December 31, 2024, is included in the “Prepaid and other current assets” line item on the Consolidated Balance Sheets. At December 31, 2023, the inventory balance was within the “Other long-term assets” line item on the Consolidated Balance Sheets. For the year ended December 31, 2024, the Company recognized a $1.0 million write-down of inventory based on the net realizable value of committed sales of raw material inventory. For the year ended December 31, 2023, there was no write-down of the Company’s inventory.