v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net loss $ (10,688) $ (10,217)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 146 76
Interest expense and amortization of debt discount on term loans payable (related party) 1,118 168
Amortization of prepaid insurance 493 539
Stock-based compensation 306 265
Change in fair value of publicly traded warrant liability (162) 376
Change in fair value of forward purchase agreement warrant liability (458) 18
Change in fair value of forward purchase agreement put option liability (103)
Change in operating lease right-of-use asset (related party) 51 (645)
Change in inventory reserve 10 262
Changes in operating assets and liabilities:    
Accounts receivable, net (5) (104)
Other receivable 760 148
Inventories 111 (440)
Prepaid expenses and other assets (42) 13
Accounts payable (33) 35
Operating lease liability (related party) (44) 734
Accrued expenses 312 (1,339)
Product warranty liability (60) (21)
Net cash used in operating activities (8,185) (10,235)
Cash flows from investing activities    
Purchases of property and equipment (7) (357)
Deposits on equipment not yet placed in service (542)
Net cash used in investing activities (7) (899)
Cash flows from financing activities    
Payments on insurance financing loans (469) (519)
Proceeds from the issuance of term loans payable (related party) 10,000 7,500
Dividends paid to stockholders of Series A Preferred Stock (1,820)
Proceeds from sale of Common Stock from ATM offering 204
Proceeds from issuance of Common Stock under employee stock purchase plan 77
Proceeds from the sale of Common Stock associated with forward purchase agreement, net of transaction costs 1,683
Net cash provided by financing activities 7,992 8,664
Effect of exchange rate changes on cash 4 (2)
Net decrease in cash (196) (2,472)
Cash, beginning of period 5,483 4,218
Cash, end of period 5,287 1,746
Supplemental disclosures of cash flow information:    
Cash paid for interest 20 23
Non-cash investing and financing activities:    
Accrued and unpaid dividends on Series A Preferred Stock 670 2,730
Accrued interest capitalized into term loans payable (related party) 600
Financing of prepaid insurance 75 65
Warrants issued with term loans payable (related party) $ 1,570 $ 376