v3.26.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 2,990,000 $ 9,173,000
Investments 16,279,000 302,000
Accounts receivable, net 5,200,000 4,752,000
Inventory 5,448,000 11,121,000
Prepaid expenses and other current assets 5,203,000 3,141,000
Restricted investments 10,266,000 11,000,000
Total current assets 45,386,000 39,489,000
Restricted cash 0 400,000
Property and equipment, net 14,847,000 19,219,000
Operating lease right-of-use assets 3,217,000 1,804,000
Finance lease right-of-use assets 3,095,000 3,299,000
Intangible assets, net 4,345,000 9,705,000
Other long-term assets 2,694,000 2,754,000
Total assets 73,584,000 76,670,000
Current liabilities:    
Accounts payable 5,590,000 6,962,000
Accrued expenses 5,460,000 5,641,000
Contract liabilities 967,000 1,128,000
Operating lease liability 697,000 2,991,000
Finance lease liability 249,000 260,000
Convertible debentures payable (at fair value) 9,979,000 20,362,000
Total current liabilities 22,942,000 37,344,000
Operating lease liability, net of current portion 2,489,000 145,000
Finance lease liability, net of current portion 3,480,000 3,539,000
Long-term contract liabilities 249,000 267,000
Total liabilities 29,160,000 41,295,000
Commitments and contingencies (Note 11)
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized and no shares issued or outstanding as of December 31, 2025 and 2024 0 0
Common stock, $0.0001 par value; 400,000,000 shares authorized at December 31, 2025 and 2024; 10,740,200 and 1,865,400 shares issued and outstanding at December 31, 2025 and 2024, respectively 1,000 0
Additional paid-in capital 764,026,000 728,573,000
Accumulated deficit (719,620,000) (693,225,000)
Accumulated other comprehensive income 17,000 27,000
Total stockholders’ equity 44,424,000 35,375,000
Total liabilities and stockholders’ equity $ 73,584,000 $ 76,670,000