v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income (loss) $ 12,142 $ (80,795)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 2,200 1,259
Gain on disposals of assets, net 0 14
Impairment of goodwill 0 3,907
Change in fair value of warrant liabilities 0 28,021
Amortization of discounts on investments, net (577) (1,174)
Stock-based compensation expense 6,586 4,315
Shares issued as payment for services 526 527
Accretion of debt discount and amortization of deferred financing costs 706 0
Receivables:    
Trade (67,950) 599
Other 268 (4)
Inventory (10,664) 0
Prepaid expenses (453) 910
Other assets 200 (215)
Accounts payable (6,674) 684
Accrued compensation and benefits (330) 1,662
Other accrued liabilities 5,257 5,378
Deferred revenue (233) (291)
Lease liabilities (107) (99)
Indemnification accruals (2,476) 0
Other long-term liabilities (57) 0
Net cash used in operating activities (61,636) (35,302)
Cash flows from investing activities    
Purchases of investments (81,539) (38,875)
Sales and maturities of investments 129,846 62,448
Purchases of property, plant and equipment (650) (1,588)
Net cash provided by investing activities 47,657 21,985
Cash flows from financing activities    
Payment of issuance cost related to 2024 public offering of shares 0 (355)
Payments to taxing authorities in connection with shares directly withheld from employees (1,495) (1,776)
Proceeds from stock option exercises 1,571 223
Payment of issuance costs related to Series A Preferred Stock 0 (537)
Net cash provided by (used in) financing activities 76 (2,445)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (2) 5
Net decrease in cash, cash equivalents, and restricted cash (13,905) (15,757)
Cash, cash equivalents, and restricted cash    
Beginning of period 30,234 29,517
End of period 16,329 13,760
Supplemental disclosure of cash flow information    
Cash paid during the period for interest 5,155 0
Cash paid during the period for income taxes 0 3
Significant noncash activities    
Accrued compensation paid in equity 3,371 3,578
Purchases of property and equipment included in accounts payable and other accrued liabilities $ 171 $ 254