v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 30,379,000 $ 14,802,000
Restricted cash 1,513,000 1,500,000
Inventories 54,609,000 53,104,000
Prepaid expenses 6,397,000 7,513,000
Other current assets 4,811,000 427,000
Total current assets 126,943,000 103,622,000
Property and equipment, net 6,240,000 5,831,000
Intangible assets, net 427,098,000 526,438,000
Goodwill 177,571,000 329,589,000
Right-of-use asset, net 7,735,000 9,839,000
Other non-current assets 574,000 541,000
TOTAL ASSETS 746,161,000 975,860,000
CURRENT LIABILITIES:    
Current portion of operating lease liabilities 2,111,000 2,766,000
Current portion of long-term debt 771,000 29,479,000
Embedded derivative liabilities 11,833,000 0
Other current liabilities 40,367,000 19,560,000
Total current liabilities 74,547,000 76,892,000
Long-term debt, net 135,752,000 137,137,000
Derivative warrant liabilities 1,181,000 5,021,000
Long-term operating lease liabilities 10,377,000 12,724,000
Deferred income tax liabilities 3,082,000 14,044,000
Contingent consideration liabilities 21,020,000 0
Other non-current liabilities 104,000 105,000
TOTAL LIABILITIES 246,063,000 245,923,000
COMMITMENTS AND CONTINGENCIES (Note 17)
SHAREHOLDERS’ EQUITY:    
Preferred shares, 25,000,000 shares authorized, $0.0001 par value, none issued and outstanding 0 0
Additional paid-in capital 981,197,000 951,260,000
Accumulated deficit (518,953,000) (289,204,000)
Accumulated other comprehensive (loss) income (378,000) 251,000
TOTAL CONTROLLING SHAREHOLDERS’ EQUITY 461,879,000 662,319,000
Noncontrolling interest 38,219,000 67,618,000
TOTAL SHAREHOLDERS' EQUITY 500,098,000 729,937,000
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 746,161,000 975,860,000
Nonrelated Party    
CURRENT ASSETS:    
Accounts receivable, net 28,014,000 25,484,000
CURRENT LIABILITIES:    
Accounts payable 19,465,000 25,087,000
Related Party    
CURRENT ASSETS:    
Accounts receivable, net 1,220,000 792,000
Class A Ordinary Shares    
SHAREHOLDERS’ EQUITY:    
Ordinary shares 12,000 11,000
Class B Ordinary Shares    
SHAREHOLDERS’ EQUITY:    
Ordinary shares $ 1,000 $ 1,000