v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 19,191 $ 32,923
Marketable securities 13,457 20,545
Accounts receivable net of allowance for credit losses of $5,448 and $828, respectively 5,362 13,049
Other receivables 1,587 2,101
Inventory 682 684
Prepaid expenses and other current assets 1,126 2,448
Land held for sale 9,125 9,126
Total current assets 50,530 80,876
Property, plant, and equipment, net 79,726 72,852
Operating lease right-of-use asset 3,080 3,149
Intangible assets, net 24 32
Other long-term assets 1,715 751
Total assets 135,075 157,660
Current liabilities    
Accounts payable 1,331 3,568
Accrued expenses 4,717 4,947
Operating lease liabilities, current 316 306
Notes payable, short-term 4,450 4,511
Convertible notes, net of issuance costs 6,979 14,970
Other liabilities, current 1,231 231
Total current liabilities 19,024 28,533
Earnout liability 24 24
Canadian Government Research and Development Program liability 16,496 16,776
Common stock warrants liability 89 167
Notes payable, long-term 7,654 4,386
Operating lease liabilities 3,449 3,533
Other liabilities, long-term 19 30
Total liabilities 46,755 53,449
Commitments and contingencies (See Note 16)
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding as of March 31, 2026 and December 31, 2025 0 0
Common stock, $0.0001 par value, 1,000,000,000 shares authorized; 5,499,307 and 5,173,884, issued and outstanding as of March 31, 2026 and December 31, 2025, respectively (including 50,000 and 50,000, respectively, of Sponsor Vesting Shares) 15 15
Additional paid-in capital 404,667 402,378
Accumulated deficit (305,475) (287,825)
Accumulated other comprehensive loss (10,887) (10,357)
Total stockholders’ equity 88,320 104,211
Total liabilities and stockholders’ equity $ 135,075 $ 157,660