v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Feb. 23, 2025
Revenues $ 23,193 $ 35,154
Cost of sales 18,731 25,309
Gross profit 4,462 9,845
Research and development expenses 1,217 2,045
Selling, general, and administrative expenses 7,917 9,978
Loss on sale or disposal of assets, net of portion classified as cost of sales 0 6,851
Operating loss (4,672) (9,029)
Interest income 128 108
Change in fair value of debt derivative liability, related party (3,155) (600)
Other income, net 110 333
Loss before income taxes (14,937) (14,777)
Income tax (expense) benefit (43) 8
Net loss (14,980) (14,769)
Preferred stock dividends (907) (837)
Accretion of preferred stock to redemption value (47) (48)
Loss available to common stockholders $ (15,934) $ (15,654)
Loss per share, basic and diluted    
Basic (in dollars per share) $ (0.43) $ (0.42)
Diluted (in dollars per share) $ (0.43) $ (0.42)
Weighted average shares outstanding, basic and diluted    
Basic (in shares) 37,477,386 37,020,570
Diluted (in shares) 37,477,386 37,020,570
Nonrelated party    
Revenues $ 14,236 $ 16,233
Interest expense (454) (749)
Related party    
Revenues 8,957 18,921
Interest expense $ (6,894) $ (4,840)