v3.25.2
Condensed Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 27,054 $ 6,123
Marketable securities 12,581 8,921
Trade accounts receivable, net of allowance for credit losses 6,886 5,122
Inventories, net 17,081 13,955
Prepaid expenses 691 431
Other current assets 4,618 573
Total Current Assets 68,911 35,125
Property and equipment, net 8,506 7,487
Operating lease right-of-use asset 162 68
Intangible assets, net 250 400
Total Assets 77,829 43,080
Current Liabilities    
Accounts payable ($673 and $813 to related parties, respectively) 6,042 4,860
Current operating lease obligations 82 47
Accrued liabilities 6,370 2,740
Total Current Liabilities 12,494 7,647
Long-Term Liabilities    
Preferred stock warrant liability 1,967 970
Long-term debt 14,784 14,658
Other long-term liabilities 84 25
Total Long-Term Liabilities 16,835 15,653
Total Liabilities 29,329 23,300
Commitments and contingencies (note 8)
Convertible Preferred Stock 126,700 74,475
Stockholders’ Deficit    
Common stock, $0.001 par value, 280,986,575 shares authorized, and 2,839,173 issued and outstanding as of June 30, 2025 and 212,366,763 shares authorized and 1,600,475 issued and outstanding as of December 31, 2024 1 1
Additional paid-in capital 2,616 2,148
Accumulated deficit (80,899) (57,041)
Accumulated other comprehensive income 82 197
Total Stockholders’ Deficit (78,200) (54,695)
Total Liabilities, Convertible Preferred Stock, and Stockholders’ Deficit 77,829 43,080
Series Seed    
Long-Term Liabilities    
Convertible Preferred Stock 1,420 1,337
Series A    
Long-Term Liabilities    
Convertible Preferred Stock 5,600 5,600
Series B    
Long-Term Liabilities    
Convertible Preferred Stock 2,897 2,200
Series C    
Long-Term Liabilities    
Convertible Preferred Stock 21,550 21,550
Series D    
Long-Term Liabilities    
Convertible Preferred Stock 43,788 43,788
Series E    
Long-Term Liabilities    
Convertible Preferred Stock $ 51,445 $ 0