v3.26.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2026
Dec. 31, 2025
Current Assets    
Cash $ 34,478,137 $ 36,786,318
Accounts receivable 9,855,117 9,305,277
Product deposit 331,525 320,217
Inventory, net 3,177,136 2,773,576
Other current assets 3,855,131 2,646,077
Total Current Assets 51,697,046 51,831,465
Non-current Assets    
Equipment, net 2,260,437 2,444,717
Right of use assets, net 5,055,090 5,267,857
Capitalized software, net 10,881,678 10,604,946
Intangible assets, net 230,417 262,334
Total Non-current Assets 18,427,622 18,579,854
Total Assets 70,124,668 70,411,319
Current Liabilities    
Accounts payable 21,653,122 14,149,154
Accrued expenses 15,244,963 15,974,016
Current operating lease liabilities 670,825 642,422
Deferred revenue 12,016,840 10,807,773
Total Current Liabilities 49,585,750 41,573,365
Long-term Liabilities    
Noncurrent operating lease liabilities 5,502,072 5,681,374
Total Liabilities 55,087,822 47,254,739
Commitments and contingencies (Note 12)
Stockholders’ Equity    
Series A Preferred Stock, $0.0001 par value; 1,610,000 shares authorized, 1,400,000 shares issued and outstanding, liquidation value approximately, $35.8 million as of March 31, 2026 and December 31, 2025 140 140
Common Stock, $0.01 par value; 100,000,000 shares authorized, 47,632,707 and 46,760,016 shares issued, 47,529,667 and 46,656,976 outstanding as of March 31, 2026 and December 31, 2025, respectively 476,327 467,600
Additional paid-in capital 252,976,314 251,455,616
Accumulated deficit (238,252,234) (228,603,075)
Treasury stock, 103,040, at cost, as of March 31, 2026 and December 31, 2025 (163,701) (163,701)
Total Stockholders’ Equity 15,036,846 23,156,580
Total Liabilities and Stockholders’ Equity $ 70,124,668 $ 70,411,319