v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Dec. 31, 2024
Current assets:      
Cash and cash equivalents $ 204,535 $ 140,275 $ 60,981
Accounts receivable, net 10,975 7,286 10,401
Inventories, net 23,463 16,937 15,008
Prepaid expenses and other current assets 2,688 3,421 2,566
Total current assets 241,661 167,919 88,956
Property, equipment and software, net of accumulated depreciation and amortization of $15,051 and $14,632, respectively 4,322 4,137 2,616
Right-of-use assets, net 1,682 638 928
Intangible assets, net of accumulated amortization of $12,090 and $10,752, respectively 11,465 11,593 11,729
Other assets 391 393 49
Total assets 259,521 184,680 104,278
Current liabilities:      
Accounts payable 8,285 8,577 2,933
Accrued and other current liabilities 11,380 10,201 8,202
Short-term lease liabilities 982 400 633
Total current liabilities 20,647 19,178 11,768
Long-term lease liabilities 1,161 278 333
Warrant liabilities   0 112
Other long-term liabilities 2,554 2,765 6,317
Total liabilities 24,362 22,221 18,530
Commitments and contingencies (Note 6)  
Redeemable convertible preferred stock, $0.000001 par value; 10,000,000 shares authorized; 0 and 341,496,158 shares issued and outstanding at December 31, 2025 and December 31, 2024.   0 378,150
Stockholders' equity (deficit):      
Common stock, $0.000001 par value; 500,000,000 shares authorized; 21,359,204 shares and 18,316,928 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 0 0 0
Additional paid-in-capital 602,416 519,610 28,368
Accumulated deficit (366,882) (356,711) (320,250)
Accumulated other comprehensive loss (375) (440) (520)
Total stockholders' equity 235,159 162,459 (292,402)
Total liabilities and stockholders' equity $ 259,521 $ 184,680 $ 104,278