Restructuring

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

In 2022, the Company embarked on a restructuring program to improve execution and drive efficiency across the organization. This program is a framework for identifying, prioritizing and executing operational improvements. Restructuring charges incurred consist of severance and other employee costs, costs for optimizing the Company’s geographic presence (“Facility Footprint Optimization”), and consulting and other costs.

The following table summarizes the costs associated with the Company’s restructuring activities for the year ended December 31, 2024 (in thousands):



	Severance and Other Employee Costs		Facility Footprint Optimization		Consulting and Other Costs		Total
Balance as of December 31, 2023	$	687	$	1,389	$	537	$	2,613
Restructuring charges incurred	1,518		4,083		997		6,598
Impairment of facility related assets	—		60		—		60

Cash payments and other adjustments(1)	(2,075)		(4,896)		(1,433)		(8,404)
Balance as of December 31, 2024	$	130	$	636	$	101	$	867
Current liabilities							$	867
Long-term liabilities							—
							$	867

(1) Other adjustments include non-cash asset charges related to Facility Footprint Optimization costs.

In the third quarter of 2023, in response to new incremental information including ongoing negotiations with counterparties, the Company revised its original restructuring plan, cost and timing of approved projects. As a result, the Company incurred further restructuring charges extending into 2024. The Company completed its restructuring activities as of December 31, 2024 and will not incur any further costs subsequent to the completion date.