v3.26.1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 4,402 $ 5,731
Restricted cash 104 104
Equipment credit, related party 9,521 0
Inventories, net 26,626 10,629
Other current assets 3,273 3,445
Current contract asset 9,485 7,621
Total current assets 167,537 110,777
Long-term contract asset 48,593 55,115
Property and equipment, net 23,245 20,344
Right-of-use assets 2,705 3,083
Deferred tax assets, net 24,410 29,152
Other long-term assets 1,546 1,578
TOTAL ASSETS 268,036 220,049
Current liabilities:    
Accounts payable 74,550 48,317
Accrued liabilities 6,121 7,256
Income taxes payable 593 258
Interest payable, related party 997 1,008
Current portion of operating lease liabilities 1,324 1,251
Current portion of finance lease liabilities 160 153
Asset-based loan 10,400 3,332
Total current liabilities 94,145 61,575
Deferred revenue, long-term 55 0
Note payable - related party, net of deferred financing costs 39,632 39,584
Long-term operating lease liabilities 4,849 5,608
Long-term finance lease liabilities 142 224
TOTAL LIABILITIES 138,823 106,991
Stockholders’ equity:    
Preferred stock, $0.0001 par value, 100,000 shares authorized; no shares issued and outstanding 0 0
Common stock, $0.0001 par value, 240,000,000 shares authorized; 37,440,565 shares issued and 36,217,709 shares outstanding at June 30, 2026; 31,320,960 shares issued and 30,130,480 shares outstanding at December 31, 2025 4 3
Additional paid-in capital 437,088 434,964
Accumulated other comprehensive income 153 96
Accumulated deficit (271,163) (285,780)
Treasury stock, at cost; 1,222,856 and 1,190,480 shares at June 30, 2026 and December 31, 2025, respectively (36,869) (36,225)
Total stockholders’ equity 129,213 113,058
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 268,036 220,049
Third Party    
Current assets:    
Accounts Receivable 43,415 19,043
Related Party    
Current assets:    
Accounts Receivable 70,711 $ 64,204
Current liabilities:    
Accrued liabilities $ 0