v3.25.3
Inventories, Net
 9 Months Ended
Sep. 30, 2025
Inventory Disclosure [Abstract]  
Inventories, Net Inventories, Net
The following table presents the Company’s inventories, net ($ in thousands):
September 30, 2025December 31, 2024
Finished goods40,640 24,063 
Raw materials22,570 13,268 
Work in progress3,925 2,544 
Inventories, net67,135 39,875 
The Company writes down inventory for any excess or obsolete inventory or when the Company believes that the net realizable value of inventory is less than the carrying value. The Company recorded write-downs in inventory, which were included in cost of product revenue, of $0.6 million and $0.9 million in the three and nine months ended September 30, 2025, respectively, and an insignificant amount and $0.8 million in the three and nine months ended September 30, 2024, respectively.