v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities:        
Net income (loss) $ (3,887) $ 636 $ (7,232) $ (11,706)
Adjustments to reconcile net income (loss) to net cash used in operating activities:        
Depreciation and amortization expense 8 50 74 279
Share-based compensation 512 563 1,927 2,305
Amortization of operating lease right-of-use assets 144 134 548 513
Noncash interest expense 714 39
Other income (see Note 2) (3,556) (3,556)
Amortization of debt discount 76    
Change in fair value of forward purchase agreement asset 23 339
Change in fair value of SEPA put rights asset 156 312
Change in fair value of embedded derivative liability 31 11
Gain on extinguishment of accrued liabilities     (173)
Changes in operating assets and liabilities:        
Accounts receivable (8) 1 (235) 1,942
Prepaid expenses and other current assets (177) (130) (98) 84
Note receivable     4
Accounts payable 768 (418) (860) (743)
Accrued expenses 77 10 383 484
Excise taxes payable     57
Deferred revenue     (64)
Operating lease liability (156) (138) (566) (500)
Net cash used in operating activities (1,719) (2,848) (9,030) (7,402)
Cash Flows from Investing Activities:        
Purchase of property and equipment     (48)
Cash Flows from Financing Activities:        
Proceeds from settlement of forward purchase agreement 132    
Proceeds from promissory notes 2,583    
Net proceeds from the Merger     490
Net proceeds from PIPE financing     10,361
Cash transferred into escrow pursuant to Forward Purchase Agreement     (1,134)
Proceeds from issuance of notes payable - related party     5,883 1,442
Payment of notes payable - related party     (5,735)
Proceeds from issuance of Convertible Notes, net of issuance costs     2,755
Payment of offering costs (220) (1,442) (371)
Repayment of finance lease liabilities (18) (17) (222)
Net cash provided by financing activities 132 2,345 11,161 849
Net change in cash and restricted cash (1,587) (503) 2,131 (6,601)
Cash and restricted cash - beginning of period 2,992 861 861 7,462
Cash and restricted cash - end of period 1,405 358 2,992 861
Supplemental disclosure of cash flow information and non-cash transactions:        
Interest paid 1 1 16
Offering costs included in accounts payable     436 507
Reclassification of residual value guarantees under finance lease to accrued expense     113
Settlement of bonus accrual through notes payable - related parties       300
ACAB liabilities assumed in the Merger, net     6,585
Conversion of notes payable-related parties into common stock of New Abpro     2,000
Conversion of pre-merger preferred stock of Abpro into common stock of New Abpro     75,563
SEPA commitment fee paid in common stock shares     327
Fair value of common stock issued for services 161    
As reported within the unaudited condensed consolidated balance sheets:        
Cash 1,261 220 2,850 723
Restricted cash 144 138 142 138
Total cash and restricted cash as presented in the balance sheet $ 1,405 $ 358 $ 2,992 $ 861