Composition of Certain Financial Statement Items

6 Months Ended

Jun. 30, 2026

Composition of Certain Financial Statement Items

Composition of Certain Financial Statement Items

6.	Composition of Certain Financial Statement Items

Cash, Cash Equivalents, and Restricted Cash

Cash, cash equivalents, and restricted cash consisted of the following (in thousands):


	June 30,		December 31,
	2026		2025
Cash	$	10,439	$	6,610
Money market funds		34,314		33,624
Restricted Cash		315		315
Total cash, cash equivalents, and restricted cash	$	45,068	$	40,549

The Company’s restricted cash relates to collateral for procurement cards issued by a U.S. commercial bank.

Accounts receivable, net

Accounts receivable, net consisted of the following (in thousands):


	June 30,		December 31,
	2026		2025
Accounts receivable	$	11,432	$	8,067
Accounts receivable - related parties		1,132		5,312
Less: allowance for credit losses		(2,295)		(1,260)
Total accounts receivable, net	$	10,269	$	12,119

Inventory, net

Inventory, net of reserves, consisted of the following (in thousands):


	June 30,		December 31,
	2026		2025
Finished goods	$	4,669	$	2,580
Work-in-process		3,358		3,631
Raw materials		431		492
Total	$	8,458	$	6,703

The Company charged $0.1 million in cost of sales for the six months ended June 30, 2026 and $0.7 million in cost of sales for the year ended December 31, 2025 to reduce the value of inventory for items that are potentially obsolete due to expiry, in excess of product demand, or to adjust costs to their net realizable value.

Property, equipment and intangible assets, net

Property, equipment and intangible assets, net, consisted of the following (in thousands):


	June 30,		December 31,
	2026		2025
Property and equipment
Machinery and laboratory equipment	$	4,341	$	3,904
Office furniture and equipment		617		611
Leasehold improvements		2,209		2,200
Intangible assets
Sensor insertion network assets		800		800
Less: Accumulated depreciation and amortization		(3,647)		(3,315)
Property, equipment and intangible assets, net	$	4,320	$	4,200