v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 9,923 $ 14,433
Accounts receivable 503 1,041
Prepaid expenses and other current assets 1,643 1,472
Total current assets 12,069 16,946
Property, plant, and equipment, net 6,300 11,439
Operating lease right-of-use assets 21,557 33,254
Intangible assets, net 31,679 33,578
Goodwill 232,516 253,466
Other non-current assets 926 1,386
Total assets 305,047 350,069
Current liabilities:    
Accounts payable 8,070 5,964
Accrued expenses 1,946 2,281
Accrued compensation 3,061 3,309
Deferred revenue 536 932
Current portion of notes payable 435 436
Current portion of financing lease obligations 0 113
Current portion of operating lease obligations 2,731 4,287
Class A common stock warrants 79 2,268
Other current liabilities 0 288
Total current liabilities 16,858 19,878
Notes payable, net of current portion 93 226
Operating lease obligations, net of current portion 29,783 31,224
Royalty liability - related parties 234,923 199,442
Other non-current liabilities 1,561 1,468
Total liabilities 283,218 252,238
Commitments and contingencies (See Note 9)
Redeemable noncontrolling interest 0 5,674
Stockholders’ equity:    
Additional paid-in capital 882,171 825,298
Class A common stock in treasury, at cost; 193,195 shares as of December 31, 2025, and 45,177 shares as of December 31, 2024 (2,141) (1,999)
Accumulated deficit (858,251) (731,166)
Accumulated other comprehensive income 39 15
Total stockholders’ equity 21,829 92,157
Total liabilities, redeemable noncontrolling interest, and stockholders’ equity 305,047 350,069
Common Class A    
Stockholders’ equity:    
Common stock 11 9
Common Class B    
Stockholders’ equity:    
Common stock $ 0 $ 0