v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Mar. 31, 2024
Current assets:    
Cash and cash equivalents $ 38,248 $ 216,488
Restricted cash 7,746 1,399
Accounts receivable, net 1,352 3,324
Inventories 15,558 12,465
Deferred cost of revenue 5,173 4,792
Prepaid expenses and other current assets 34,630 15,441
Current assets of discontinued operations 0 1,400
Total current assets 102,707 255,309
Property and equipment, net 1,258 22,499
Operating lease right-of-use assets 533 38,129
Restricted cash, noncurrent 5,300 6,974
Internal-use software, net 19,396 20,516
Intangible assets, net 25,335 33,255
Other assets 5,365 650
Noncurrent assets of discontinued operations 0 17,835
Total assets 159,894 395,167
Current liabilities:    
Accounts payable 549 5,368
Accrued expenses and other current liabilities 15,499 30,832
Deferred revenue (includes related party amounts of $1,964 and $10,999, respectively) 49,347 64,827
Operating lease liabilities 7,308 4,932
Current liabilities of discontinued operations (includes related party amounts of nil and $10,561, respectively) 0 21,372
Total current liabilities 72,703 127,331
Deferred revenue, noncurrent (includes related party amounts of nil and $10,000, respectively) 0 10,000
Operating lease liabilities, noncurrent 205 59,835
Other liabilities 224 1,471
Noncurrent liabilities of discontinued operations 0 8,010
Total liabilities not subject to compromise 73,132 206,647
Liabilities subject to compromise (includes related party amounts of $2,255 and nil, respectively) 113,504 0
Total liabilities 186,636 206,647
Commitments and contingencies (Note 13)
Stockholders’ (deficit) equity    
Common stock, par value $0.0001 - Class A shares, 1,140,000,000 shares authorized, 20,340,344 and 16,169,741 shares issued and outstanding as of March 31, 2025 and 2024, respectively; Class B shares, 350,000,000 shares authorized, 7,099,036 and 8,336,229 shares issued and outstanding as of March 31, 2025 and 2024, respectively 3 2
Additional paid-in capital [1] 2,427,228 2,361,606
Accumulated deficit (2,453,973) (2,173,088)
Total stockholders’ (deficit) equity (26,742) 188,520
Total liabilities and stockholders’ (deficit) equity $ 159,894 $ 395,167
[1] Amounts have been adjusted to reflect the reverse stock split that became effective on October 16, 2024. Refer to Note 14, “Stockholders' Equity,” for further information about the reverse stock split.