v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 17,241 $ 17,469
Contract assets 7,568 7,655
Inventory 25,475 29,085
Prepaid expenses and other current assets 2,952 1,921
Total current assets 83,691 82,292
Property, plant and equipment, net 123,714 127,304
Goodwill 13,881 13,881
Other assets 8,214 8,700
Total assets 229,500 232,177
Current liabilities:    
Accounts payable 7,534 6,211
Accrued expenses and other current liabilities 14,107 17,362
Total current liabilities 21,641 23,573
Debt derivative liability, related party 30,922 26,564
Other liabilities 6,746 6,698
Total liabilities 213,407 198,117
Commitments and contingencies, see note 8
Series A Redeemable Convertible Preferred Stock, $0.001 par value; 2,000,000 shares authorized; 49,263 and 47,466 shares issued and outstanding, redemption value $50,187 and $48,356 50,187 48,262
Stockholders’ (deficit) equity:    
Common Stock, $0.001 par value; 75,000,000 shares authorized; 37,697,012 and 37,477,386 shares issued and outstanding 38 37
Additional paid-in capital 210,205 208,962
Accumulated deficit (244,337) (223,201)
Total stockholders’ deficit (34,094) (14,202)
Total liabilities, convertible preferred stock and stockholders’ deficit 229,500 232,177
Nonrelated party    
Current assets:    
Accounts receivable, net 13,728 13,233
Current liabilities:    
Debt, net of current portion 5,590 5,694
Related party    
Current assets:    
Accounts receivable, net 16,727 12,929
Current liabilities:    
Debt, net of current portion $ 148,508 $ 135,588