v3.26.1
Income Taxes (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Income Tax Disclosure [Abstract]    
Schedule of Loss Before Provision Income Taxes  
Loss before provision for income taxes, includes the components for the years ended December 31, 2025 and 2024, as follows (in thousands):
 
    
2025
    
2024
 
Domestic
   $ (34,058    $ (35,548
Foreign
     (2,363      (4,085
  
 
 
    
 
 
 
Loss before provision for income taxes
   $ (36,421    $ (39,633
  
 
 
    
 
 
 
Schedule of Provision for Income Taxes  
For the years ended December 31, 2025 and 2024, the provision for income taxes consisted of the following (in thousands):
 
    
2025
    
2024
 
Current:
     
Federal
     —         —   
State
     —         —   
Foreign
     40        28  
  
 
 
    
 
 
 
Total current income tax expense
     40        28  
Deferred:
     
Federal
     —         —   
State
     —         —   
Foreign
     —         —   
  
 
 
    
 
 
 
Total deferred income tax expense
     —         —   
Provision for income taxes
     40        28  
  
 
 
    
 
 
 
Components of the Deferred Tax Assets and Liabilities  
Deferred Tax Assets
The components of the deferred tax assets and liabilities at December 31, 2025 and 2024, are as follows (in thousands):
 
    
2025
    
2024
 
Deferred tax assets:
     
Net operating loss carryforwards
   $ 47,207      $ 37,760  
Depreciable assets
     119        223  
Intangible assets
     1,046        843  
Research and development capitalization
     14,050        17,883  
Inventory allowance
     3,128        3,675  
Accrued liabilities and other
     3,196        1,787  
Uniform capitalization
     303        304  
Sales return allowance
     203        204  
Warrants
     407        1,019  
  
 
 
    
 
 
 
Total deferred tax assets
     69,659        63,698  
Less: valuation allowance
     (69,659      (63,698
  
 
 
    
 
 
 
Net deferred tax assets
     —         —   
  
 
 
    
 
 
 
Schedule of Provision for Income Taxes and Effective Tax Rates
The following table presents the provision for income taxes and the effective tax rates for the three months ended March 31, 2026 and 2025 (in thousands):
 
    
Three months ended
March 31,
 
    
2026
   
2025
 
Loss before income taxes
   $ (10,168   $ (8,280
Income tax expense
     (3     (4
Effective tax rate
     0.0     0.0
The following table presents the provision for income taxes and the effective tax rates for the years ended December 31, 2025 and 2024 (in thousands):
 
    
2025
    
2024
 
Net income before income taxes
     (36,421        (39,633  
U.S. Federal benefit
   $ (7,649     21.0    $ (8,323     21.0
State taxes, net of federal benefit
   $ (77     0.2    $ (35     0.1
Permanent items
         
Stock-based compensation
     1,166       -3.2      164       -0.4
Transaction costs
     629       -1.7      73       -0.2
Other permanent items
     (65     0.2      (147     0.4
Foreign tax differential — Singapore
         
Change in valuation allowance
     608       -1.7      1,299       -3.3
Other
     (50     0.1      (1,173     3.0
Foreign tax differential — Other
     (21     0.1      —        0.0
Other
     76       -0.2      (104     0.3
Change in valuation allowance — Other
     5,423       -14.9      8,274       -20.9
  
 
 
      
 
 
   
Total
   $ 40       -0.1    $ 28       -0.1