v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net (loss) income $ (17,619) $ 39,139
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation expense 1,342 1,308
Stock-based compensation expense 3,170 2,487
Change in fair value of Contingent Earnout Liability (4,732) (49,731)
Non-cash interest expense 209 2,152
Change in fair value of derivatives (8,525) (14,930)
Inventory reserve 1,626 0
Amortization expense 448 524
Non-cash operating lease costs 0 14
Amortization of debt discount 282 0
Changes in operating assets and liabilities:    
Accounts receivable 7 (308)
Inventory 2,043 (8,020)
Prepaid expenses and other current assets (1,437) 392
Accounts payable (362) 653
Accrued expenses (2,184) (2,267)
Finance lease obligation 628 0
Operating lease obligation 0 (14)
Net cash used in operating activities (25,104) (28,601)
Cash flows from investing activities    
Purchase of property and equipment (175) (228)
Net cash used in investing activities (175) (228)
Cash flows from financing activities    
Proceeds from the exercise of stock options 0 56
Payments of finance lease principal 0 (687)
Net cash provided by financing activities 23,321 46,739
Net increase (decrease) in cash, cash equivalents and restricted cash (1,958) 17,910
Cash, cash equivalents and restricted cash at the beginning of the period 50,850 95,290
Cash, cash equivalents and restricted cash at the end of the period 48,892 113,200
Supplemental disclosure of noncash activities:    
Unpaid issuance costs in connection with public offering 357 340
Purchase of property and equipment in accounts payable and accrued expenses 26 545
Public Stock Offering    
Cash flows from financing activities    
Proceeds from the issuance of common stock 0 47,000
Registered Direct Offerings    
Cash flows from financing activities    
Proceeds from the issuance of common stock 18,676 0
ATM Facility    
Cash flows from financing activities    
Proceeds from the issuance of common stock $ 4,645 $ 370