v3.26.1
Balance Sheet Components
 6 Months Ended
Jun. 30, 2026
Disclosure Text Block Supplement [Abstract]  
Balance Sheet Components Balance Sheet Components
Inventory
Inventory consisted of the following (in thousands):
June 30,
2026		December 31,
2025
Raw materials$505 $323 
Work-in-process12,021 9,269 
Finished goods559 1,142 
Total inventory$13,085 $10,734 
Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):
June 30,
2026		December 31,
2025
Manufacturing equipment$15,341 $15,070 
Computer and network equipment689 731 
Furniture and fixtures113 113 
Construction in Progress11,835 11,131 
Leasehold improvements1,476 1,476 
Total property and equipment, gross29,454 28,521 
Less: accumulated depreciation(14,611)(14,381)
Total property and equipment, net$14,843 $14,140 
For the three months ended June 30, 2026 and 2025, the depreciation expense was $0.3 million and $0.4 million, respectively. For the six months ended June 30, 2026 and 2025, depreciation expense was $0.5 million and $0.7 million, respectively.
Intangible Assets, Net
The gross carrying amounts and accumulated amortization of intangible assets are as follows at the dates indicated (in thousands):
June 30, 2026
Weighted-
Average
Life
(in years)		Gross Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Internal-use software0.6$4,525 $(3,628)$897 
Total intangible assets$4,525 $(3,628)$897 
December 31, 2025
Weighted-
Average
Life
(in years)		Gross Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Internal-use software1.0$4,456 $(2,742)$1,714 
Total intangible assets$4,456 $(2,742)$1,714 
For the three months ended June 30, 2026 and 2025, the amortization expense for the intangible assets was $0.5 million and $0.4 million, respectively. For the six months ended June 30, 2026 and 2025, the amortization expense for the intangible assets was $0.9 million and $0.9 million, respectively.
Accrued Liabilities
Accrued liabilities consisted of the following (in thousands):
June 30
2026		December 31
2025
Payroll-related expenses$2,680 $2,481 
Legal fees2,564 185 
Inventory 788 425 
Other622 560 
Total accrued liabilities$6,654 $3,651 
Deferred Revenue
During the three months ended June 30, 2026, the Company executed two engineering services agreements with two customers. The total consideration in the two arrangements is $40.3 million. The Company is recognizing revenue related to the performance obligations over time using the input method based on costs incurred to date relative to the total expected costs of the contract and began recognizing revenue in the second quarter of 2026.
As of June 30, 2026, the Company has billed $6.2 million for the performance under the agreements. Under the input method of recognition, the Company has recognized $3.3 million in revenue for the three and six months ended June 30, 2026. As a result, the Company has recorded $2.9 million in deferred revenue as of June 30, 2026. The Company expects to recognize the remaining $37.0 million of the transaction price as services are performed throughout the contractual period and performance is expected to be complete in the year ended December 31, 2028.