v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net loss $ (12,778) $ (47,137) $ (67,511)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities      
Depreciation and amortization 5,491 4,803 4,448
Share-based compensation 12,955 9,420 8,740
Loss on debt extinguishment 2,109 0 1,536
Loss on disposal of property and equipment 8 2 151
Amortization of debt issuance costs 285 389 416
Non-cash operating lease expense 447 728 683
Change in fair value of warrants 1,468 (218) 1,048
Provision for credit losses [1] 1,189 1,760 452
Amortization of deferred commissions 3,339 2,643 1,799
Changes in operating assets and liabilities      
Accounts receivable [2] (12,357) (8,805) (5,337)
Inventory (1,190) 318 (74)
Prepaid expenses and other current assets [3] (1,409) (1,853) (1,490)
Deferred commissions (3,510) (6,422) (3,699)
Other non-current assets 251 409 213
Accounts payable [4] 6,289 399 (286)
Operating lease liabilities (415) (783) (716)
Accrued expenses and other current liabilities [5] 10,552 5,343 8,342
Deferred revenue [6] 5,528 4,645 1,442
Other non-current liabilities 0 180 105
Net cash provided by (used in) operating activities 18,252 (34,179) (49,738)
Investing activities      
Purchases of property and equipment (1,322) (596) (416)
Capitalized internal-use software costs (4,510) (3,267) (2,505)
Net cash used in investing activities (5,832) (3,863) (2,921)
Financing activities      
Proceeds from issuance of Midcap term facility 0 0 30,963
Payment of Midcap term facility issuance costs 0 0 (1,805)
Proceeds from exercise of stock options 9,368 3,329 1,755
Payment of deferred offering costs (4,283) (4,538) (111)
Payment of debt extinguishment costs (1,430) 0 (623)
Proceeds from initial public offering, net of underwriting discounts and commissions 160,532 0 0
Net cash provided by (used in) financing activities 133,224 (1,209) 179
Net increase (decrease) in cash and cash equivalents 145,644 (39,251) (52,480)
Cash and cash equivalents at beginning of period 76,392 115,643 168,123
Cash and cash equivalents at end of period 222,036 76,392 115,643
Supplemental disclosure of cash flow information      
Interest 2,420 3,854 4,095
Supplemental disclosure of noncash investing and financing activities      
Share-based compensation expense capitalized in internal-use software 184 97 76
Unpaid deferred offering costs included in accounts payable 0 131 23
Unpaid property and equipment included in accounts payable 16 65 26
Conversion of redeemable convertible preferred stock in connection with initial public offering 452,113 0 0
Members for Perceptive Term Loan Facility      
Financing activities      
Repayment of term facility 0 0 (30,000)
Midcap Term Facility      
Financing activities      
Repayment of term facility (30,963) 0 0
Series A      
Supplemental disclosure of noncash investing and financing activities      
Net share settlement of redeemable convertible preferred stock warrant liability in connection with convertible preferred stock warrant exercise 0 0 257
Series B      
Supplemental disclosure of noncash investing and financing activities      
Net share settlement of redeemable convertible preferred stock warrant liability in connection with convertible preferred stock warrant exercise 493 0 0
Series D      
Supplemental disclosure of noncash investing and financing activities      
Net share settlement of redeemable convertible preferred stock warrant liability in connection with convertible preferred stock warrant exercise 3,227 0 0
Common Stock      
Supplemental disclosure of noncash investing and financing activities      
Net share settlement of redeemable convertible preferred stock warrant liability in connection with convertible preferred stock warrant exercise $ 647 $ 0 $ 0
[1] Includes changes in related party balances of $0.5 million, $0.2 million and $0.2 million for the years ended December 31, 2025, 2024, and 2023, respectively.
[2] Includes changes in related party balances of $9.1 million, $5.3 million and $3.8 million for the years ended December 31, 2025, 2024, and 2023, respectively.
[3] Includes changes in related party balances of $0.2 million, $0.1 million and 0 million for the years ended December 31, 2025, 2024, and 2023, respectively.
[4] Includes changes in related party balances of $1.0 million, $0 million and $0 million for the years ended December 31, 2025, 2024, and 2023, respectively.
[5] Includes changes in related party balances of $2.7 million, $0.7 million and $0.5 million for the years ended December 31, 2025, 2024, and 2023, respectively.
[6] Includes changes in related party balances of $5.7 million, $3.9 million and $2.2 million for the years ended December 31, 2025, 2024, and 2023, respectively.