v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities:    
Net loss $ (27,981) $ (19,976)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,833 1,561
Provision for bad debts 206 32
Amortization of discount on short-term investments (3,606) (4,541)
Stock-based compensation 15,410 15,687
Provision for excess and obsolete inventory 1,176 1,250
Change in operating assets and liabilities:    
Accounts receivable 4,664 1,960
Inventories (6,733) (4,302)
Receivable from collaboration partner (10,000) 0
Prepaid and other assets 1,673 1,742
Accounts payable 946 (1,491)
Deferred revenue - collaboration 3,500 0
Accrued expenses and other liabilities (1,517) (5,130)
Net cash used in operating activities (20,429) (13,208)
Investing Activities:    
Purchases of property and equipment (2,715) (2,112)
Maturities of short-term investments 210,000 110,000
Purchases of short-term investments (193,785) (72,381)
Net cash provided by investing activities 13,500 35,507
Financing Activities:    
Proceeds from issuance of common stock 813 2,764
Payments for employee taxes related to stock compensation (473) (1,418)
Principal payments on finance lease liabilities (14) (16)
Net cash provided by financing activities 326 1,330
Effect of foreign exchange rate on cash, cash equivalents and restricted cash 6 20
Net (decrease) increase in cash, cash equivalents and restricted cash (6,597) 23,649
Cash, cash equivalents and restricted cash - beginning of period 20,699 17,456
Cash, cash equivalents and restricted cash - end of period 14,102 41,105
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows from operating leases 1,680 1,383
Cash paid for income taxes 144 70
Right-of-use assets obtained in exchange for lease obligations:    
Operating lease 211 0
Lease obligations recorded for right-of-use assets:    
Operating lease 211 0
Acquisition of property and equipment included in accounts payable and accrued expenses and accrued liabilities $ 319 $ 250