| Schedule of Consolidated Operating Result Including Segment Expenses |
The table below presents the Company's consolidated operating results including segment expenses (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
Product |
|
$ |
2,546 |
|
|
$ |
4,203 |
|
|
$ |
4,973 |
|
|
$ |
6,684 |
|
Professional service |
|
|
3,590 |
|
|
|
1,308 |
|
|
|
7,425 |
|
|
|
2,195 |
|
Total revenues |
|
|
6,136 |
|
|
|
5,511 |
|
|
|
12,398 |
|
|
|
8,879 |
|
Less: |
|
|
|
|
|
|
|
|
|
|
|
|
Segment expense: |
|
|
|
|
|
|
|
|
|
|
|
|
Product (excluding 1) |
|
|
2,558 |
|
|
|
3,960 |
|
|
|
5,547 |
|
|
|
6,512 |
|
Professional service (excluding 1 and 2) |
|
|
1,277 |
|
|
|
454 |
|
|
|
2,377 |
|
|
|
929 |
|
Loss on joint development (2) |
|
|
— |
|
|
|
3,785 |
|
|
|
— |
|
|
|
3,785 |
|
Stock-based compensation expense (1) |
|
|
8,513 |
|
|
|
6,024 |
|
|
|
17,878 |
|
|
|
10,588 |
|
Research and development expenses (excluding 1) |
|
|
19,962 |
|
|
|
19,407 |
|
|
|
38,790 |
|
|
|
37,999 |
|
General and administrative expenses (excluding 1) |
|
|
7,229 |
|
|
|
5,620 |
|
|
|
14,580 |
|
|
|
11,461 |
|
Selling and marketing expenses (excluding 1) |
|
|
1,157 |
|
|
|
1,184 |
|
|
|
2,922 |
|
|
|
2,946 |
|
Loss from Operations |
|
|
(34,560 |
) |
|
|
(34,923 |
) |
|
|
(69,696 |
) |
|
|
(65,341 |
) |
Interest income |
|
|
893 |
|
|
|
619 |
|
|
|
1,770 |
|
|
|
1,626 |
|
Change in fair value of warrant liabilities |
|
|
(44,700 |
) |
|
|
(88,478 |
) |
|
|
(44,250 |
) |
|
|
(93,878 |
) |
Fair value loss on share subscription liability |
|
|
|
|
|
(69,996 |
) |
|
|
|
|
|
(69,996 |
) |
Interest expense |
|
|
(1,196 |
) |
|
|
- |
|
|
|
(2,379 |
) |
|
|
- |
|
Other income (expense), net |
|
|
(3 |
) |
|
|
106 |
|
|
|
42 |
|
|
|
107 |
|
Income tax provision |
|
|
58 |
|
|
|
70 |
|
|
|
90 |
|
|
|
127 |
|
Net loss |
|
$ |
(79,624 |
) |
|
$ |
(192,742 |
) |
|
$ |
(114,603 |
) |
|
$ |
(227,609 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule of Property and Equipment by Geographic Region |
The following table sets forth the Company’s property, plant, and equipment, net by geographic region (in thousands):
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
North America |
|
$ |
6,803 |
|
|
$ |
8,135 |
|
Asia |
|
|
5,596 |
|
|
|
4,710 |
|
Total |
|
$ |
12,399 |
|
|
$ |
12,845 |
|
|