Annual report [Section 13 and 15(d), not S-K Item 405]

INVENTORIES

v3.25.4
INVENTORIES
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
INVENTORIES INVENTORIES
The following table summarizes inventories, net (in thousands):
As of December 31,
2025 2024
Raw materials $ 4,514  $ 1,077 
Work in process 3,910  1,226 
Finished goods 4,712  5,014 
Total $ 13,136  $ 7,317 
Reported as:
Inventories $ 11,506  $ 6,002 
Other assets 1,630  1,315 
Total $ 13,136  $ 7,317 
Non-current inventories included within other assets in the balance sheet consist of APIs classified as raw materials which have multi-year shelf life, as well as certain work in process and finished goods inventories that are not expected to be consumed beyond our normal operating cycle.