v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 24,365 $ 4,358
Trade accounts receivable, net of allowance for credit losses of $17 and $35, respectively 1,670 838
Inventories, current 4,020 4,180
Other current assets 826 1,140
Total current assets 30,881 10,516
Property, plant and equipment, net 4,085 3,963
Right-of-use assets, net 0 134
Inventories, noncurrent 379 865
Other noncurrent assets 129 0
Total assets 35,474 15,478
Current liabilities    
Accounts payable 291 825
Income taxes payable 0 59
Accrued expense 981 1,095
Contract liabilities 1,255 483
Legacy SMAP promissory notes 0 172
Right-of-use liabilities, current 0 138
Other current liabilities 121 245
Total current liabilities 2,648 3,017
Contract liabilities, noncurrent 751 83
Warrants 10 10
Deferred tax liabilities, net 33 80
Total liabilities 3,442 3,190
Commitments and contingencies (Note 14)
Shareholders' equity    
Common stock, $0.0001 par value; 300,000,000 shares authorized as of December 31, 2025 and December 31, 2024, and 80,304,531 and 30,526,052 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively 8 3
Additional paid-in capital 98,363 66,911
Accumulated deficit (66,339) (54,626)
Total shareholders' equity 32,032 12,288
Total liabilities and shareholders' equity $ 35,474 $ 15,478