INVENTORY

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

INVENTORY

8. INVENTORY

The following table summarizes the components of the Company’s inventory for each of the periods indicated:

	As of December 31,
	2023		2022
	(in thousands)
Raw materials	$	133,963	$	59,181
Work in progress		318,458		269,185
Finished goods		61,806		38,147
Total inventory	$	514,227	$	366,513

No material inventory reserves existed as of December 31, 2023 or 2022. The Company classifies inventory associated with its PMO Products as non-current inventory when consumption of the inventory is expected beyond the Company's normal PMO Product inventory operating cycle of two years. Non-current inventory consists of raw materials and work in progress associated with the PMO Products.

The following table summarizes the balance sheet classification of the Company's inventory for each of the periods indicated:

	As of December 31,
	2023		2022
	(in thousands)
Balance sheet classification
Inventory	$	322,859	$	203,968
Non-current inventory		191,368		162,545
Total inventory	$	514,227	$	366,513