v3.25.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current assets:      
Cash $ 1,261 $ 2,850 $ 723
Accounts receivable 331 323 88
Deferred offering costs   878
Prepaid expenses and other current assets 483 306 208
Forward purchase agreement asset 155
Restricted cash 144 142 138
Total current assets 2,219 3,776 2,035
Property and equipment, net 31 37 102
Right-of-use asset - operating lease 275 418 966
Security deposits 66 66 66
Patents, net 174 176 186
SEPA put rights asset 32 188
Total assets 2,797 4,661 3,355
Current liabilities:      
Accounts payable 4,704 3,936 7,916
Accrued expenses 7,778 7,496 5,381
Excise taxes payable 4,401 4,401
Operating lease liability, current 300 456 567
Finance lease liability, current   130
Income taxes payable 366 366
Convertible notes 2,801 2,725
Embedded derivative liability 111 80
Total current liabilities 20,608 19,607 15,736
Operating lease liability, noncurrent   455
Total liabilities   19,607 16,191
Commitments and Contingencies (Note 9)  
Convertible preferred stock, $0.001 par value, issuable in series:      
Total convertible preferred stock   75,599
Stockholders’ deficit:      
Preferred stock, $0.0001 par value, 1,000,000 shares authorized; zero shares issued and outstanding
Common stock, $0.0001 par value; 110,000,000 shares authorized; 51,965,765 and 51,815,765 shares issued, 50,982,432 and 50,832,432 shares outstanding at March 31, 2025 and December 31, 2024, respectively 5 5 2
Treasury stock (33)
Additional paid-in capital 101,625 100,603 19,918
Accumulated deficit (119,990) (116,103) (108,871)
Total Abpro Holdings, Inc.’s stockholders’ deficit (18,360) (15,495) (88,984)
Non-controlling interest 549 549 549
Total stockholders’ deficit (17,811) (14,946) (88,435)
Total liabilities and stockholders’ deficit 2,797 4,661 3,355
Series F Convertible Preferred Stock      
Convertible preferred stock, $0.001 par value, issuable in series:      
Total convertible preferred stock 9,991
Series E Convertible Preferred Stock      
Convertible preferred stock, $0.001 par value, issuable in series:      
Total convertible preferred stock   29,841
Series D Convertible Preferred Stock      
Convertible preferred stock, $0.001 par value, issuable in series:      
Total convertible preferred stock   17,622
Series C Convertible Preferred Stock      
Convertible preferred stock, $0.001 par value, issuable in series:      
Total convertible preferred stock   14,949
Series B Convertible Preferred Stock      
Convertible preferred stock, $0.001 par value, issuable in series:      
Total convertible preferred stock   1,401
Series A Redeemable, Convertible Preferred Stock      
Convertible preferred stock, $0.001 par value, issuable in series:      
Total convertible preferred stock   1,795
Related Party      
Current liabilities:      
Notes payable, current – related parties   147 $ 1,742
Notes payable, current – related parties $ 147 $ 147