v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 45,091 $ 30,321
Accounts receivable 1,995 3,563
Contract assets and unbilled receivables (Note 10) 1,170 2,209
Prepaids and other current assets 1,788 515
Short-term investments 0 2
Total current assets 50,044 36,610
Property and equipment, net 199 252
Total assets 50,243 36,862
Current liabilities:    
Accounts payable 3,293 3,148
Accrued expenses and other liabilities 4,488 8,147
Total current liabilities 7,781 11,295
Warrant liabilities 25,985 0
Funding agreement, related party 1,129 0
Total liabilities 34,895 11,295
Commitments and contingencies (Note 3 and Note 9)
Series A preferred stock, par value $0.0001; no shares and 14,146 shares were designated as of December 31, 2025 and 2024, respectively; no shares and 14,145.374 shares issued and outstanding at December 31, 2025 and 2024, respectively. 0 18,843
Stockholders' equity:    
Preferred stock, par value $0.0001; 10,000,000 and 9,985,854 shares authorized as of December 31, 2025 and 2024, respectively; no shares issued and outstanding at December 31, 2025 and 2024. 0 0
Common stock, par value $0.0001; 125,000,000 authorized as of December 31, 2025 and 2024; 69,894,507 and 31,574,657 shares issued and outstanding at December 31, 2025 and 2024, respectively. 7 3
Additional paid-in capital 203,930 145,719
Accumulated deficit (188,589) (138,998)
Total stockholders' equity 15,348 6,724
Total liabilities, Series A preferred stock, and stockholders' equity $ 50,243 $ 36,862