v3.25.4
Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 26,871 $ 6,123
Marketable securities 97,434 8,921
Trade accounts receivable, net of allowance for credit losses 8,268 5,122
Inventories, net 21,591 13,955
Prepaid expenses 1,518 431
Other current assets 1,483 573
Total Current Assets 157,165 35,125
Property and equipment, net 12,532 7,487
Operating lease right-of-use asset 110 68
Intangible assets, net 100 400
Total Assets 169,907 43,080
Current Liabilities    
Accounts payable ($1,220 and $813 to related parties, respectively) 8,874 4,860
Current operating lease obligations 62 47
Accrued liabilities ($575 and $344 to related parties, respectively) 5,259 2,740
Total Current Liabilities 14,195 7,647
Long-Term Liabilities    
Preferred stock warrant liability 0 970
Long-term debt 14,911 14,658
Long-term operating lease obligations 51 25
Total Long-Term Liabilities 14,962 15,653
Total Liabilities 29,157 23,300
Commitments and contingencies (note 13)
Convertible Preferred Stock 0 74,475
Stockholders’ Equity (Deficit)    
Common stock 21 1
Preferred stock 0 0
Additional paid-in capital 238,012 2,148
Accumulated deficit (97,400) (57,041)
Accumulated other comprehensive income 117 197
Total Stockholders’ Equity (Deficit) 140,750 (54,695)
Total Liabilities, Convertible Preferred Stock, and Stockholders’ Equity (Deficit) 169,907 43,080
Series Seed    
Long-Term Liabilities    
Convertible Preferred Stock 0 1,337
Series A    
Long-Term Liabilities    
Convertible Preferred Stock 0 5,600
Series B    
Long-Term Liabilities    
Convertible Preferred Stock 0 2,200
Series C    
Long-Term Liabilities    
Convertible Preferred Stock 0 21,550
Series D    
Long-Term Liabilities    
Convertible Preferred Stock $ 0 $ 43,788