Balance Sheet Components (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
| Schedule of Accounts Receivable, Net |
Accounts receivable, net consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
|
|
(In thousands) |
|
Trade receivables |
|
$ |
7,110 |
|
|
$ |
7,130 |
|
Less: Allowances for credit losses |
|
|
(847 |
) |
|
|
(3,407 |
) |
Total |
|
$ |
6,263 |
|
|
$ |
3,723 |
|
|
| Schedule of Inventories |
Inventories consisted of the following:
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|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
|
|
(In thousands) |
|
Raw materials |
|
$ |
17,497 |
|
|
$ |
29,386 |
|
Work-in-progress |
|
|
6,281 |
|
|
|
9,660 |
|
Finished goods |
|
|
3,305 |
|
|
|
10,907 |
|
Total |
|
$ |
27,083 |
|
|
$ |
49,953 |
|
|
| Schedule of Prepaid Expenses and Other Current Assets |
Prepaid expenses and other current assets consisted of the following:
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|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
|
|
(In thousands) |
|
Prepaid insurance and other |
|
$ |
1,335 |
|
|
$ |
1,724 |
|
Net investments in sales type lease |
|
|
1,729 |
|
|
|
— |
|
Vendor prepayments |
|
|
1,500 |
|
|
|
612 |
|
Customer deposit — noncash consideration |
|
|
1,158 |
|
|
|
— |
|
Total |
|
$ |
5,722 |
|
|
$ |
2,336 |
|
|
| Schedule of Property and Equipment, Net |
Property and equipment, net consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
|
|
(In thousands) |
|
Computers and software |
|
$ |
461 |
|
|
$ |
2,525 |
|
Lab equipment and other equipment |
|
|
11,379 |
|
|
|
11,011 |
|
Furniture and fixtures |
|
|
157 |
|
|
|
206 |
|
Leasehold improvements |
|
|
14,254 |
|
|
|
13,312 |
|
Construction in progress |
|
|
3 |
|
|
|
— |
|
Total property, plant and equipment |
|
|
26,254 |
|
|
|
27,054 |
|
Less accumulated depreciation and amortization |
|
|
(13,160 |
) |
|
|
(12,784 |
) |
Property, plant and equipment, net |
|
$ |
13,094 |
|
|
$ |
14,270 |
|
|
| Schedule of Other Assets |
Other assets consisted of the following:
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|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
|
|
(In thousands) |
|
Right of use assets |
|
$ |
7,633 |
|
|
$ |
8,774 |
|
Net Investment in sales type lease |
|
|
— |
|
|
|
2,712 |
|
Non-current prepaid expenses and other assets |
|
|
2,872 |
|
|
|
2,027 |
|
Total Other assets |
|
$ |
10,505 |
|
|
$ |
13,513 |
|
|
| Schedule Of Accrued And Other Current Liabilities |
Accrued expenses and other current liabilities consisted of the following:
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|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
|
|
(In thousands) |
|
Accrued expenses |
|
$ |
2,103 |
|
|
$ |
1,173 |
|
Accrued salaries and benefits |
|
|
1,483 |
|
|
|
560 |
|
Customer liabilities — prepaid reserve |
|
|
1,072 |
|
|
|
— |
|
Customer liabilities — noncash consideration |
|
|
1,158 |
|
|
|
— |
|
Lease liability — current portion |
|
|
2,099 |
|
|
|
1,778 |
|
Total Accrued expenses and other current liabilities |
|
$ |
7,915 |
|
|
$ |
3,511 |
|
|
| Schedule of Fair Value Assumptions Used For Valuation Liablity |
The fair value assumptions used in the Black-Scholes model for the valuation of the liability was as follows:
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As of December 31, |
|
|
As of August 14, |
|
|
|
2025 |
|
|
2025 |
|
Current stock price |
|
$ |
4.87 |
|
|
$ |
1.56 |
|
Expected volatility |
|
182% - 195% |
|
|
119% - 171% |
|
Risk-free interest rate |
|
3.53% - 3.61% |
|
|
3.67% - 4.12% |
|
Dividend rate |
|
|
— |
|
|
|
— |
|
Expected term (years) |
|
0.25 - 0.50 |
|
|
0.38 - 2.13 |
|
|
| Schedule of Other Noncurrent Liabilities |
Other noncurrent liabilities consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
|
|
(In thousands) |
|
Lease liabilities — noncurrent portion |
|
$ |
7,115 |
|
|
$ |
8,475 |
|
Other noncurrent liabilities |
|
|
1,455 |
|
|
|
863 |
|
Total other noncurrent liabilities |
|
$ |
8,570 |
|
|
$ |
9,338 |
|
|