v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net Income (Loss) $ 10,039 $ (72,617)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Stock-based compensation 4,447 2,805
Depreciation of property and equipment 974 825
Amortization of intangible assets 118 0
Change in fair value of warrant liabilities (37,740) 46,935
Allowance for credit losses 0 285
Amortization of investment discount (1,386) (75)
Deferred income tax benefit (2,541) 0
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 1,096 136
Unbilled receivable (960) 855
Inventories 58 994
Prepaid expenses and other current assets (132) 1,048
Operating lease assets & other non-current assets 1,005 1,242
Accounts payable (708) (819)
Accrued liabilities and current operating lease liabilities (904) (3,164)
Operating lease liabilities (1,003) (1,077)
Net cash used in operating activities (27,637) (22,627)
Cash flows from investing activities:    
Purchases of property and equipment (713) (265)
Acquisition of a business, net of cash acquired (5,302) 0
Purchases of marketable securities (75,563) (8,859)
Maturities of marketable securities 57,000 16,000
Net cash (used in) provided by investing activities (24,578) 6,876
Cash flows from financing activities:    
Proceeds from exercise of stock options 74 130
Proceeds from issuance of common stock under ESPP 148 0
Proceeds from the exercise of warrants 6,419 0
Shares repurchased for payment of tax withholdings 0 (105)
Payment of obligations under finance leases (20) (3)
Payment of debt obligations (3,696) 0
Proceeds from the issuance of warrants 0 4,432
Proceeds from issuance of common stock 36,371 20,028
Payment of transaction costs related to issuance of common stock (50) (682)
Net cash provided by financing activities 39,246 23,800
Net (decrease) increase in cash and cash equivalents (12,969) 8,049
Cash and cash equivalents at beginning of period 31,188 23,139
Cash and cash equivalents at end of period 18,219 31,188
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 2 10
Supplemental disclosure of non-cash activities:    
Purchases of property and equipment financed through notes payable 113 0
Common stock issued in connection with a business acquisition 15,872 0
Warrant liabilities reclassified to equity upon exercise $ 10,883 $ 0