v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating activities    
Net loss $ (132,201) $ (282,713)
Adjustments to reconcile net loss to net cash used in operating activities:    
Royalty liability interest expense - related parties 35,481 34,190
Goodwill impairment 20,950 181,432
Long-lived assets impairment 9,115 0
Depreciation and amortization 5,923 6,859
Stock-based compensation 8,188 10,750
Loss on disposal of assets, net 41 335
Change in fair value of liability classified Class A common stock warrants (447) (9,301)
Other 38 22
Changes in operating assets and liabilities:    
Accounts receivable 538 (512)
Prepaid expenses and other current assets 983 518
Accounts payable 720 (188)
Accrued expenses (367) 608
Accrued compensation (268) (535)
Deferred revenue (403) (285)
Right-of-use assets and lease obligations, net 1,146 990
Other assets and liabilities, net (28) (213)
Net cash used in operating activities (50,591) (58,043)
Investing activities    
Purchases of property, plant, and equipment (578) (808)
Net cash used in investing activities (578) (808)
Financing activities    
Proceeds from issuances of securities 50,100 43,902
Costs incurred related to issuances of securities (2,202) (2,211)
Payment of taxes related to restricted stock units withheld from employees (142) (214)
Proceeds from issuance of notes payable 0 204
Repayments of financing lease obligations (113) (171)
Repayments of notes payable (995) (912)
Net cash provided by financing activities 46,648 40,598
Effect of exchange rate changes on cash and cash equivalents 11 (13)
Net decrease in cash and cash equivalents (4,510) (18,266)
Cash and cash equivalents – beginning of period 14,433 32,699
Cash and cash equivalents – end of period $ 9,923 $ 14,433