v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net loss $ (69,038) $ (28,760)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 1,093 754
Non-cash interest expense (debt discount and deferred costs) 742 787
Net amortization of premiums and accretion of discounts on marketable securities (498) (473)
Stock-based compensation expense 5,845 4,733
Provision for inventory obsolescence and losses (349) 154
Allowance for credit losses 1,033 480
Other 31  
Changes in assets and liabilities:    
Accounts receivable 817 650
Prepaid expenses and other current assets 125 829
Inventory (1,318) (446)
Deposits and other assets (142) 13
Accounts payable 641 (571)
Accrued expenses and other liabilities (525) (2,532)
Accrued interest 155 (501)
Payments on lease liabilities (775) (464)
Net cash used in operating activities (62,163) (25,347)
Cash flows from investing activities    
Capital expenditures (328) (558)
Purchase of marketable securities (98,427) (94,398)
Proceeds from sale and maturity of marketable securities 54,660  
Cash paid in connection with asset acquisition (1,285)  
Net cash used in investing activities (45,380) (94,956)
Cash flows from financing activities    
Proceeds from issuance of common stock, net 53,489 98,726
Proceeds from exercise of stock options, RSUs and ESPP issuances, net 64 69
Proceeds from issuance of Loan and Security Agreement, net 19,800  
Taxes paid related to net share settlement of equity awards (1,283) (1,172)
Proceeds from issuance of warrants, net 39,992  
Repayment of 2025 Notes   (20,399)
Net cash provided by financing activities 112,062 77,224
Net increase (decrease) in cash, cash equivalents, and restricted cash 4,519 (43,079)
Cash and cash equivalents and restricted cash, at beginning of period 40,549 74,912
Cash and cash equivalents and restricted cash, at ending of period 45,068 31,833
Supplemental disclosure of cash flow information    
Cash paid during the period for interest 2,050 2,287
Supplemental disclosure of non-cash transactions    
Property and equipment purchases included in accounts payable and accrued expenses 179 54
Issuance of common stock upon conversion of preferred shares   $ 30,372
Issuance of warrants for loan amendment 321  
Lease liabilities arising from obtaining right-of-use assets $ 7,276