The Company has a 401(k) plan to provide defined contribution retirement benefits for all of its US based employees. Employees may elect to contribute a portion of their pretax compensation to the 401(k) plan, subject to the U.S. Internal Revenue Service annual contribution limit. Employee contributions are fully vested at all times. For both the years ended December 31, 2024, and 2023, the Company contributed $0.8 million to the 401(k) plan.

The Company has two defined benefit pension plans (the Plans), and both Plans are outside the United States. One of the defined benefit plans was assumed as a result of the acquisition of Magillem during the year ended December 31, 2020. The Plans cover all employees of the Company’s French subsidiary in accordance with French regulations. The Plans are unfunded and accounted for under the credit method and are subject to an actuarial measurement of what the Company needs at the present time to cover the future pension liabilities, including expected future salary increases.

Components of the net periodic pension costs and changes in benefit obligations under the Plan were as follows (in thousands):


	Year Ended December 31,
	2024		2023
Service costs	$	134	$	110
Interest costs	29		27
Prior service costs (credit)	—		(3)
Total net periodic pension cost	$	163	$	134


	As of December 31,
	2024		2023
Benefit obligation, beginning of year	$	905	$	676
Service costs	134		110
Interest costs	29		27
Prior service costs (credit)	—		(3)
Net actuarial (gain) loss	(34)		74
Foreign exchange (gain) loss	(51)		21
Benefit obligation, end of year, included as part of other liabilities	$	983	$	905