v3.26.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net loss $ (18,532) $ (23,858)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 2,265 1,385
Amortization of debt discounts 100 126
Stock-based compensation expense 1,807 317
Realized (gain) loss on marketable securities 40 (207)
Change in fair value of warrant liabilities and Series E purchase option 0 13,134
Loss on extinguishment of debt 589 0
Other 292 99
Change in operating assets and liabilities    
Trade accounts receivable (2,857) (1,820)
Inventory (1,329) (3,126)
Prepaid expenses (811) (260)
Accounts payable (2,222) 982
Other current assets and liabilities 908 1,954
Net cash used in operating activities (19,750) (11,274)
Cash flows from investing activities    
Fixed asset purchases (4,892) (2,311)
Purchases of marketable securities (18,170) (20,477)
Sales of marketable securities 40,384 16,909
Net cash provided by (used in) investing activities 17,322 (5,879)
Cash flows from financing activities    
Proceeds from exercise of common stock options 524 151
Proceeds from exercise of preferred stock warrants 0 362
Proceeds from Series E convertible preferred stock, net of issuance cost 0 39,553
Payments of long-term debt (15,000) 0
Proceeds from debt issuance 15,000 0
Payments of debt issuance and extinguishment costs (507) 0
Payment of deferred IPO offering costs 0 (1,982)
Net cash provided by financing activities 17 38,084
Net change in cash for period (2,411) 20,931
Cash and cash equivalents, beginning of period 26,871 6,123
Cash and cash equivalents, end of period 24,460 27,054
Supplemental cash flows information    
Cash paid for interest 1,257 863
Non-cash investing and financing activities    
Series E convertible preferred stock issuance cost in other current liabilities 0 45
Unpaid IPO offering costs included in accounts payable and accrued liabilities 0 1,835
Fixed asset purchases included in accounts payable 379 441
Series E second tranche right equity conversion    
Non-cash investing and financing activities    
Conversion of stock, amount converted 0 11,937
Preferred stock warrant liability equity conversion    
Non-cash investing and financing activities    
Conversion of stock, amount converted $ 0 $ 418