v3.25.4
Inventories (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Summary of the Components of Inventories
The following table represents the components of inventories as of September 30, 2025 and December 31, 2024 (in thousands
):
 
    
September 30,
2025
    
December 31,
2024
 
Raw materials
   $ 7      $ 45  
Work in progress
     10,148        9,547  
Finished goods
     5,971        5,416  
  
 
 
    
 
 
 
Total inventories
   $ 16,126      $ 15,008  
  
 
 
    
 
 
 
The following table represents the components of inventories as of December 31, 2024 and 2023 (in thousands
):
 
    
2024
    
2023
 
Raw materials
   $ 45      $ 1,928  
Work in progress
     9,547        8,641  
Finished goods
     5,416        10,908  
  
 
 
    
 
 
 
Total inventories
   $ 15,008      $ 21,477  
  
 
 
    
 
 
 
Summary of Inventory Allowance  
Changes in the Company’s inventory allowance were as follows (in thousands):
 
Balance at December 31, 2022
   $ 23,365  
Valuation allowances
     839  
  
 
 
 
Balance at December 31, 2023
   $ 24,204  
  
 
 
 
Valuation allowances
     428  
Sell-through or scrap of inventory
     (7,213 ) 
  
 
 
 
Balance at December 31, 2024
   $ 17,419