v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 33,261 $ 32,218
Accounts receivable, net [1] 8,357 9,317
Inventory, net [2] 3,061 4,045
Prepaid expenses and other current assets 1,582 1,970
Total current assets 46,261 47,550
Goodwill 9,713 9,713
Related party prepaid license rights 45,957 49,400
Deferred tax assets 25,593
Non-current assets associated with discontinued operations 14
Total assets 127,524 106,677
Current liabilities:    
Accounts payable [3] 1,969 2,340
Accrued expenses and other current liabilities [4] 5,724 7,917
Long-term debt, current 8,621 3,621
Current liabilities associated with discontinued operations 2,043 2,082
Total current liabilities 90,357 42,960
Warrant liabilities [5] 592 697
Long-term debt, net of current 5,000
Total liabilities 90,949 93,657
Commitments and contingencies (Note 15)
Stockholders’ equity:    
Common Stock, $0.001 par value per share, 35,000,000 shares authorized; 2,149,128 shares issued and outstanding at March 31, 2026 and December 31, 2025 2 2
Preferred stock, value
Additional paid-in capital 357,451 353,818
Accumulated deficit (320,878) (340,800)
Total stockholders’ equity 36,575 13,020
Total liabilities and stockholders’ equity 127,524 106,677
Related Party    
Current liabilities:    
Related party debt, current 72,000 27,000
Related party debt, net of current 45,000
Preferred A Stock    
Stockholders’ equity:    
Preferred stock, value
[1] Includes $6.6 million and $7.0 million from related parties as of March 31, 2026 and December 31, 2025, respectively.
[2] Includes $202 thousand and $392 thousand from a related party as of March 31, 2026 and December 31, 2025, respectively.
[3] Includes $522 thousand and $152 thousand due to related parties as of March 31, 2026 and December 31, 2025, respectively.
[4] Includes $3.6 million and $4.7 million due to related parties as of March 31, 2026 and December 31, 2025, respectively.
[5] As of March 31, 2026 and December 31, 2025, the number of outstanding warrants subject to liability classification was 40,017, of which 15,394 were held by RSLGH, LLC (“RSLGH”) a related party.