XML 30 R19.htm IDEA: XBRL DOCUMENT v3.25.2
Restructuring Activities
 6 Months Ended
Jun. 30, 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 year 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 and six months ended June 30, 2025 and 2024, we recorded restructuring charges of $0.1 million and $0.4 million, and $1.0 million and $1.3 million, respectively.
The following table summarizes the restructuring charges which are recorded in “Restructuring Expense” in the Condensed Consolidated Statement of Comprehensive Loss.
Three months ended June 30,Six months ended June 30,
In thousands2025202420252024
Consulting and employee expense$45 $364 $93 $462 
Severance99 38 790 782 
Facility and other expenses525 10436 
Total$149 $427 $987 $1,280 
The following table summarizes the changes in liabilities related to restructuring activities:
Six months ended June 30, 2025
In thousandsConsulting and Employee Expense
Severance
Facility, asset impairment and other expense
Total
Beginning balance:$— $110 $— $110 
Additions93 790 104 987 
Payments and adjustment(93)(474)(104)(671)
Ending balance:$— $426 $— $426