v3.26.1
Consolidated Statements of Shareholders' Equity (Deficit) - USD ($)
$ in Thousands
Total
Share Capital
Additional Paid in Capital
Treasury Stock
Accumulated (deficit) equity
Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2022 $ 122,228 $ 3 $ 138,997 $ (4,922) $ (10,323) $ (1,527)
Beginning balance, shares at Dec. 31, 2022   27,313,000        
Net loss [1],[2],[3],[4],[5],[6] 671          
Foreign currency translation 86          
Ending balance at Mar. 31, 2023 125,786          
Beginning balance at Dec. 31, 2022 122,228 $ 3 138,997 (4,922) (10,323) (1,527)
Beginning balance, shares at Dec. 31, 2022   27,313,000        
Net loss [1],[2],[3],[4],[5],[6] (12,766)          
Foreign currency translation 100          
Ending balance at Jun. 30, 2023 116,506          
Beginning balance at Dec. 31, 2022 122,228 $ 3 138,997 (4,922) (10,323) (1,527)
Beginning balance, shares at Dec. 31, 2022   27,313,000        
Net loss [1],[2],[3],[4],[5],[6],[7] (49,141)          
Foreign currency translation (74)          
Ending balance at Sep. 30, 2023 82,503          
Beginning balance at Dec. 31, 2022 122,228 $ 3 138,997 (4,922) (10,323) (1,527)
Beginning balance, shares at Dec. 31, 2022   27,313,000        
Net loss (74,080)       (74,080)  
Share-based compensation 11,593   11,593      
Issuance of ordinary shares under ESPP 1,680   1,680      
Issuance of ordinary shares under ESPP, shares   202,000        
Issuance of vested shares   311,000        
Treasury shares withheld for net settlement (702)     (702)    
Treasury shares withheld for net settlement, shares   (51,000)        
Proceeds from exercise of share options $ 498   498      
Proceeds from exercise of share options, shares 59,800 60,000        
Foreign currency translation $ (88)         (88)
Ending balance at Dec. 31, 2023 61,129 $ 3 152,768 (5,624) (84,403) (1,615)
Ending balance, shares at Dec. 31, 2023   27,835,000        
Beginning balance at Mar. 31, 2023 125,786          
Net loss (13,437)          
Foreign currency translation 14          
Ending balance at Jun. 30, 2023 116,506          
Net loss (36,375)          
Foreign currency translation (174)          
Ending balance at Sep. 30, 2023 82,503          
Beginning balance at Jun. 30, 2023 116,506          
Ending balance at Dec. 31, 2023 61,129 $ 3 152,768 (5,624) (84,403) (1,615)
Ending balance, shares at Dec. 31, 2023   27,835,000        
Net loss [1],[2],[3],[4],[5],[6] (18,448)          
Foreign currency translation (44)          
Ending balance at Mar. 31, 2024 44,984          
Beginning balance at Dec. 31, 2023 61,129 $ 3 152,768 (5,624) (84,403) (1,615)
Beginning balance, shares at Dec. 31, 2023   27,835,000        
Net loss [1],[2],[3],[4],[5],[6] (32,694)          
Foreign currency translation (154)          
Ending balance at Jun. 30, 2024 34,055          
Beginning balance at Dec. 31, 2023 61,129 $ 3 152,768 (5,624) (84,403) (1,615)
Beginning balance, shares at Dec. 31, 2023   27,835,000        
Net loss [1],[2],[3],[4],[5],[8] (67,220)          
Foreign currency translation (188)          
Ending balance at Sep. 30, 2024 1,871          
Beginning balance at Dec. 31, 2023 61,129 $ 3 152,768 (5,624) (84,403) (1,615)
Beginning balance, shares at Dec. 31, 2023   27,835,000        
Net loss (74,452)       (74,452)  
Share-based compensation 9,824   9,824      
Issuance of ordinary shares under ESPP 849   849      
Issuance of ordinary shares under ESPP, shares   621,000        
Issuance of vested shares   169,000        
Treasury shares withheld for net settlement $ (41)     (41)    
Treasury shares withheld for net settlement, shares   (13,000)        
Proceeds from exercise of share options, shares 0          
Foreign currency translation $ (546)         (546)
Ending balance at Dec. 31, 2024 (3,237) $ 3 163,441 (5,665) (158,855) (2,161)
Ending balance, shares at Dec. 31, 2024   28,612,000        
Beginning balance at Mar. 31, 2024 44,984          
Net loss (14,246)          
Foreign currency translation (110)          
Ending balance at Jun. 30, 2024 34,055          
Net loss (34,526)          
Foreign currency translation (34)          
Ending balance at Sep. 30, 2024 1,871          
Beginning balance at Jun. 30, 2024 34,055          
Ending balance at Dec. 31, 2024 $ (3,237) $ 3 $ 163,441 $ (5,665) $ (158,855) $ (2,161)
Ending balance, shares at Dec. 31, 2024   28,612,000        
[1] estimate variable consideration for customer incentives
[2] estimate excess and obsolete inventory
[3] estimate the allowance for credit losses
[4] estimate variable consideration for sales returns
[5] previously identified uncorrected misstatements related to out-of-period adjustments
[6] timely recognize a valuation allowance on deferred tax assets
[7] recognize revenue on a non-standard contract
[8] reclassify certain prepayments made to suppliers and loss on supplier commitments liability as current or non-current. Additionally, as part of the Restatement, the Company corrected for