v3.25.4
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 42,576 $ 70,203
Available-for-sale securities 1,733 5,187
Accounts receivable, net 7,918 9,864
Inventories, net current 15,124 14,376
Prepaid expenses and other current assets 12,262 30,523
Total current assets 79,613 130,153
Property and equipment, net 921 1,073
Internally-developed software, net 9,061 10,748
Inventories, net non-current 14,612 16,082
Goodwill 30,205 30,205
Intangible assets, net 2,382 2,584
Other non-current assets 4,819 5,579
Total assets 141,613 196,424
Current liabilities    
Accounts payable 6,993 7,821
Accrued expenses 12,910 35,066
Deferred revenue, current 11,451 11,900
Current portion of long-term debt 1,314 1,314
Other current liabilities 730 1,092
Total current liabilities 33,398 57,193
Deferred revenue, non-current 16,506 21,282
Long-term debt 3,655 4,515
Other non-current liabilities 2,175 2,251
Total liabilities 55,734 85,241
Commitments and contingencies (see Note 15)
Stockholders’ equity    
Common stock [1] 19 19
Treasury stock (1) (1)
Additional paid-in capital 770,238 769,866
Accumulated other comprehensive income 26 21
Accumulated deficit (684,403) (658,722)
Total stockholders’ equity 85,879 111,183
Total liabilities and stockholders’ equity $ 141,613 $ 196,424
[1] Shares issued and outstanding exclude 738,000 shares subject to vesting requirements held by TS Innovation Acquisitions Sponsor, L.L.C. (the “Sponsor”) related to the 2021 business combination (the “Sponsor Shares”).