v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Feb. 23, 2025
Cash flows from operating activities:    
Net loss $ (14,980) $ (14,769)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 2,310 2,076
Stock-based compensation 1,698 2,552
Non-cash interest expense, inclusive of related party 7,084 5,210
Change in fair value of debt derivative liability, related party 3,155 600
Loss on sale or disposal of assets 0 7,638
Other, net (46) 333
Changes in operating assets and liabilities:    
Accounts receivable, inclusive of related party 6,771 (3,231)
Contract assets (206) (452)
Inventory 930 4,619
Other assets 209 (97)
Accounts payable 1,427 (3,505)
Accrued expenses and other liabilities (3,652) 225
Net cash provided by operating activities 4,700 1,199
Cash flows from investing activities:    
Purchases of property, plant, and equipment (1,118) (5,456)
Proceeds from sale of equipment 0 7,000
Net cash (used in) provided by investing activities (1,118) 1,544
Cash flows from financing activities:    
Payments on revolving credit facility (36,400) (33,893)
Proceeds from revolving credit facility 36,400 27,893
Payments related to employee stock plans 0 (134)
Other financing activities (256) (649)
Net cash used in financing activities (256) (6,783)
Net increase (decrease) in cash and cash equivalents 3,326 (4,040)
Cash and cash equivalents, beginning of period 17,469 9,455
Cash and cash equivalents, end of period $ 20,795 $ 5,415