v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (DEFICIT) - USD ($)
$ in Thousands
Total
Common stock
Additional paid-in capital
Treasury stock
Accumulated other comprehensive (loss) income
Accumulated deficit
Beginning balance (in shares) at Dec. 31, 2023   89,041,946        
Beginning balance at Dec. 31, 2023 $ (148,249) $ 7,312 $ 1,180,545 $ (541) $ (93) $ (1,335,472)
Treasury stock, beginning balance (in shares) at Dec. 31, 2023       (6,748,809)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Loss for the period (83,150)         (83,150)
Remeasurement of defined benefit pension liability (81)       (81)  
Foreign currency translation adjustment (61)       (61)  
Other comprehensive income (loss) before share of other comprehensive loss in joint venture (142)       (142)  
Share of other comprehensive loss in joint venture (103)       (103)  
Other comprehensive income (loss) (245)       (245)  
Total comprehensive loss (83,395)       (245) (83,150)
Vestings of RSUs 0   (42) $ 42    
Vestings of RSUs (in shares)       502,929    
Exercise of stock options 74   72 $ 2    
Exercise of options (in shares)       31,988    
Issuance of shares, underwritten offering, net of transaction costs 60,506 $ 921 59,345 $ 240    
Issuance of shares, underwritten offering, net of transaction costs (in shares)   10,411,912   3,000,000    
Issuance of warrants, underwritten offering, net of transaction costs 36,925   36,925      
Issuance of shares, 2022 Employee Stock Purchase Plan 323   305 $ 18    
Issuance of shares, 2022 Employee Stock Purchase Plan (in shares)       229,675    
Share-based compensation expense 2,146   2,146      
Common stock, increase (decrease) (in shares)   10,411,912   3,764,592    
Stockholders' equity, excluding OCI, increase (decrease) 99,974 $ 921 98,751 $ 302    
Ending balance (in shares) at Jun. 30, 2024   99,453,858        
Ending balance at Jun. 30, 2024 (131,670) $ 8,233 1,279,296 $ (239) (338) (1,418,622)
Treasury stock, ending balance (in shares) at Jun. 30, 2024       (2,984,217)    
Beginning balance (in shares) at Mar. 31, 2024   89,041,946        
Beginning balance at Mar. 31, 2024 (194,449) $ 7,312 1,181,020 $ (502) (201) (1,382,078)
Treasury stock, beginning balance (in shares) at Mar. 31, 2024       (6,264,720)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Loss for the period (36,544)         (36,544)
Remeasurement of defined benefit pension liability (81)       (81)  
Foreign currency translation adjustment 17       17  
Other comprehensive income (loss) before share of other comprehensive loss in joint venture (64)       (64)  
Share of other comprehensive loss in joint venture (73)       (73)  
Other comprehensive income (loss) (137)       (137)  
Total comprehensive loss (36,681)       (137) (36,544)
Vestings of RSUs 0   (22) $ 22    
Vestings of RSUs (in shares)       254,899    
Exercise of stock options 41   40 $ 1    
Exercise of options (in shares)       25,604    
Issuance of shares, underwritten offering, net of transaction costs 60,506 $ 921 59,345 $ 240    
Issuance of shares, underwritten offering, net of transaction costs (in shares)   10,411,912   3,000,000    
Issuance of warrants, underwritten offering, net of transaction costs 36,925   36,925      
Share-based compensation expense 1,988   1,988      
Common stock, increase (decrease) (in shares)   10,411,912   3,280,503    
Stockholders' equity, excluding OCI, increase (decrease) 99,460 $ 921 98,276 $ 263    
Ending balance (in shares) at Jun. 30, 2024   99,453,858        
Ending balance at Jun. 30, 2024 $ (131,670) $ 8,233 1,279,296 $ (239) (338) (1,418,622)
Treasury stock, ending balance (in shares) at Jun. 30, 2024       (2,984,217)    
Beginning balance (in shares) at Dec. 31, 2024 98,861,402 101,606,376        
Beginning balance at Dec. 31, 2024 $ (202,642) $ 8,425 1,283,892 $ (220) (1,421) (1,493,318)
Treasury stock, beginning balance (in shares) at Dec. 31, 2024 (2,744,974)     (2,744,974)    
Ending balance (in shares) at Mar. 31, 2025   101,759,684        
Ending balance at Mar. 31, 2025 $ (238,223) $ 8,439 1,286,557 $ (207) (1,092) (1,531,920)
Treasury stock, ending balance (in shares) at Mar. 31, 2025       (2,581,398)    
Beginning balance (in shares) at Dec. 31, 2024 98,861,402 101,606,376        
Beginning balance at Dec. 31, 2024 $ (202,642) $ 8,425 1,283,892 $ (220) (1,421) (1,493,318)
Treasury stock, beginning balance (in shares) at Dec. 31, 2024 (2,744,974)     (2,744,974)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Loss for the period $ (95,248)         (95,248)
Remeasurement of defined benefit pension liability (88)       (88)  
Foreign currency translation adjustment 1,121       1,121  
Other comprehensive income (loss) before share of other comprehensive loss in joint venture 1,033       1,033  
Share of other comprehensive loss in joint venture 0          
Other comprehensive income (loss) 1,033       1,033  
Total comprehensive loss (94,215)       1,033 (95,248)
Vestings of RSUs 0 $ 41 (41)      
Vestings of RSUs (in shares)   424,379        
Exercise of stock options $ 34 $ 2 32      
Exercise of options (in shares) 18,565 18,565        
Issuance of shares, underwritten offering, net of transaction costs $ 42,376 $ 1,285 41,091      
Issuance of shares, underwritten offering, net of transaction costs (in shares)   13,031,161        
Issuance of warrants, underwritten offering, net of transaction costs 50,760   50,760      
Issuance of shares, 2022 Employee Stock Purchase Plan 271   258 $ 13    
Issuance of shares, 2022 Employee Stock Purchase Plan (in shares)       163,576    
Share-based compensation expense 4,232   4,232      
Common stock, increase (decrease) (in shares)   13,474,105   163,576    
Stockholders' equity, excluding OCI, increase (decrease) $ 97,673 $ 1,328 96,332 $ 13    
Ending balance (in shares) at Jun. 30, 2025 112,499,083 115,080,481        
Ending balance at Jun. 30, 2025 $ (199,184) $ 9,753 1,380,224 $ (207) (388) (1,588,566)
Treasury stock, ending balance (in shares) at Jun. 30, 2025 (2,581,398)     (2,581,398)    
Beginning balance (in shares) at Mar. 31, 2025   101,759,684        
Beginning balance at Mar. 31, 2025 $ (238,223) $ 8,439 1,286,557 $ (207) (1,092) (1,531,920)
Treasury stock, beginning balance (in shares) at Mar. 31, 2025       (2,581,398)    
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Loss for the period (56,646)         (56,646)
Remeasurement of defined benefit pension liability (46)       (46)  
Foreign currency translation adjustment 750       750  
Other comprehensive income (loss) before share of other comprehensive loss in joint venture 704       704  
Share of other comprehensive loss in joint venture 0          
Other comprehensive income (loss) 704       704  
Total comprehensive loss (55,942)       704 (56,646)
Vestings of RSUs 0 $ 27 (27)      
Vestings of RSUs (in shares)   271,071        
Exercise of stock options 34 $ 2 32      
Exercise of options (in shares)   18,565        
Issuance of shares, underwritten offering, net of transaction costs 42,376 $ 1,285 41,091      
Issuance of shares, underwritten offering, net of transaction costs (in shares)   13,031,161        
Issuance of warrants, underwritten offering, net of transaction costs 50,760   50,760      
Share-based compensation expense 1,811   1,811      
Common stock, increase (decrease) (in shares)   13,320,797   0    
Stockholders' equity, excluding OCI, increase (decrease) $ 94,981 $ 1,314 93,667 $ 0    
Ending balance (in shares) at Jun. 30, 2025 112,499,083 115,080,481        
Ending balance at Jun. 30, 2025 $ (199,184) $ 9,753 $ 1,380,224 $ (207) $ (388) $ (1,588,566)
Treasury stock, ending balance (in shares) at Jun. 30, 2025 (2,581,398)     (2,581,398)