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Restructuring Activities | 3 Months Ended
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Mar. 31, 2025
Restructuring and Related Activities [Abstract] |
Restructuring Activities | Restructuring Activities During the second half of 2023, we engaged a consulting firm to help review and analyze the structure and operations of the Company. This review included greater than 200 meetings with personnel at all levels of the firm and led to the initiation of our transformation program named "Project Elevate". The program involves the optimization and rationalization of our business resources as well as the partial reinvestment of savings into the Company's sales and marketing team, technology, and strategy. A business transformation office was established at the beginning of 2024 to manage and measure these initiatives. Reorganization cost reductions from Project Elevate during 2025 through 2027 are estimated to be $16.0 million. For the twelve months ended December 31, 2024, we recorded restructuring charges of $2.4 million. We expect to incur total restructuring charges of $10.1 million through the end of 2025. For the three months ended March 31, 2025, we recorded restructuring charges of $0.8 million. The following table summarizes the restructuring charges which are recorded in “Restructuring Expense” in the Condensed Consolidated Statement of Comprehensive Income (Loss).
|  | Three Months Ended March 31,
In thousands |  | 2025 |  | 2024
Consulting and employee expense |  | $ | 47 |  |  | $ | 95 |
Severance |  | 692 |  |  | 747 |
Facility and other expenses |  | 99 |  |  | 11 |
Total |  | $ | 838 |  |  | $ | 853 |
The following table summarizes the changes in liabilities related to restructuring activities:
|  | Three months ended March 31, 2025
In thousands |  | Consulting and Employee |  | Severance |  | Facility, asset impairment and other expense |  | Total
Beginning balance: |  | $ | — |  |  | $ | 110 |  |  | $ | — |  |  | $ | 110 |
Additions |  | 47 |  |  | 692 |  |  | 99 |  |  | 838 |
Payments and adjustment |  | (47) |  |  | (190) |  |  | (99) |  |  | (336) |
Ending balance: |  | $ | — |  |  | $ | 612 |  |  | $ | — |  |  | $ | 612 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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