Balance Sheet Components (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
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| Schedule of Cash and Cash Equivalents |
The Company’s cash and cash equivalents consist of the following (in thousands): | | | | | | | | | | | | | June 30,
2026 | | December 31,
2025 | | Cash | $ | 22,990 | | | $ | 12,938 | | | Cash equivalents: | | | | Money market funds(1) | 68,769 | | | 54,475 | | | | | | | Total cash and cash equivalents | $ | 91,759 | | | $ | 67,413 | |
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the unaudited condensed consolidated balance sheets to the total of the amounts reported in the unaudited condensed consolidated statements of cash flows (in thousands): | | | | | | | | | | | | | June 30,
2026 | | June 30,
2025 | | Cash and cash equivalents | $ | 91,759 | | | $ | 76,120 | | | Restricted cash, current | 336 | | | 732 | | | Restricted cash, non-current | 1,100 | | | 1,835 | | | Total cash, cash equivalents and restricted cash | $ | 93,195 | | | $ | 78,687 | |
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| Schedule of Restrictions on Cash and Cash Equivalents |
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the unaudited condensed consolidated balance sheets to the total of the amounts reported in the unaudited condensed consolidated statements of cash flows (in thousands): | | | | | | | | | | | | | June 30,
2026 | | June 30,
2025 | | Cash and cash equivalents | $ | 91,759 | | | $ | 76,120 | | | Restricted cash, current | 336 | | | 732 | | | Restricted cash, non-current | 1,100 | | | 1,835 | | | Total cash, cash equivalents and restricted cash | $ | 93,195 | | | $ | 78,687 | |
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| Schedule of Inventory |
Inventory, consisting of material, direct and indirect labor, and manufacturing overhead, consists of the following (in thousands): | | | | | | | | | | | | | June 30,
2026 | | December 31,
2025 | | Raw materials | $ | 11,051 | | | $ | 3,866 | | | Work in process | 1,500 | | | 93 | | | Finished goods | 18,878 | | | 19,607 | | | Total inventory | $ | 31,429 | | | $ | 23,566 | |
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| Schedule of Prepaid Expenses and Other Current Assets |
Prepaid expenses and other current assets consist of the following (in thousands): | | | | | | | | | | | | | June 30,
2026 | | December 31,
2025 | | Prepaid expenses | $ | 8,841 | | | $ | 3,529 | | | Prepaid inventory | 2,908 | | | 2,887 | | | Prepaid insurance | 2,132 | | | 967 | | | Receivable from contract manufacturer | 5,248 | | | 3,497 | | | | | | | Import duty receivable (See Note 2.) | 4,930 | | | — | | | IRS Income tax refund receivable | — | | | 2,993 | | | Indemnification asset (See Note 3.) | 1,855 | | | — | | | Other current assets | 4,829 | | | 3,644 | | | Total prepaid expenses and other current assets | $ | 30,743 | | | $ | 17,517 | |
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| Schedule of Property, Plant and Equipment |
Property and equipment consists of the following (in thousands): | | | | | | | | | | | | | | | | | | | Estimated Useful Life
(in years) | | June 30,
2026 | | December 31,
2025 | | Land | Not depreciated | | $ | 7,798 | | | $ | 7,798 | | | Building | 25 | | 9,453 | | | 9,453 | | | Machinery and equipment | 3 | | 20,043 | | | 16,640 | | | Computer equipment | 3 | | 1,816 | | | 1,140 | | | Automotive and vehicle hardware | 5 | | 93 | | | 93 | | | Software | 3 | | 438 | | | 160 | | | Furniture and fixtures | 7 | | 1,129 | | | 863 | | | Construction in progress | | | 8,144 | | | 7,326 | | | Leasehold improvements | Shorter of useful life or lease term | | 5,134 | | | 5,097 | | | | | 54,048 | | | 48,570 | | | Less: Accumulated depreciation | | | (18,807) | | | (16,679) | | | Property and equipment, net | | | $ | 35,241 | | | $ | 31,891 | |
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| Schedule of Carrying Amount of Goodwill |
The changes in the carrying amount of goodwill are as follows (in thousands): | | | | | | | Amount | | Balance at December 31, 2025 | $ | — | | | Goodwill addition related to Stereolabs acquisition | 38,525 | | | Balance at June 30, 2026 | $ | 38,525 | |
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| Intangible Asset, Finite-Lived |
The following tables present acquired intangible assets, net as of June 30, 2026 and December 31, 2025 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | Estimated Useful Life
(in years) | | Gross Carrying Amount | | Accumulated Amortization | | Net Book Value | | Trade name | 6 | | $ | 1,500 | | | $ | (99) | | | $ | 1,401 | | | Developed technology | 3-8 | | 37,500 | | | (16,617) | | | 20,883 | | | Vendor relationship | 3 | | 6,600 | | | (6,600) | | | — | | | Customer relationships | 3 - 8 | | 14,200 | | | (3,576) | | | 10,624 | | | Intangible assets, net | | | $ | 59,800 | | | $ | (26,892) | | | $ | 32,908 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Estimated Useful Life
(in years) | | Gross Carrying Amount | | Accumulated Amortization | | Net Book Value | | Developed technology | 3-8 | | $ | 23,500 | | | $ | (13,634) | | | $ | 9,866 | | | Vendor relationship | 3 | | 6,600 | | | (6,600) | | | — | | | Customer relationships | 3-8 | | 6,300 | | | (2,850) | | | 3,450 | | | Intangible assets, net | | | $ | 36,400 | | | $ | (23,084) | | | $ | 13,316 | |
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| Intangible Asset, Finite-Lived, and Capitalized Cost, Software to be Sold, Leased, or Marketed, Estimated Amortization Expense |
The following table summarizes estimated future amortization expense of finite-lived intangible assets-net (in thousands): | | | | | | | Years: | Amount | | Remainder of 2026 | $ | 4,234 | | | 2027 | 8,416 | | | 2028 | 7,526 | | | 2029 | 7,065 | | | 2030 | 2,257 | | | Thereafter | 3,410 | | | Total | $ | 32,908 | |
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| Schedule of Accrued and Other Current Liabilities |
Accrued and other current liabilities consist of the following (in thousands): | | | | | | | | | | | | | June 30,
2026 | | December 31,
2025 | | Accrued legal fees and contingencies | $ | 2,182 | | | $ | 2,124 | | | Uninvoiced receipts | 12,751 | | | 7,910 | | | Accrued compensation | 9,304 | | | 7,415 | | | Warranty reserve | 1,957 | | | 1,800 | | Sales, use, value-added taxes, customs duties and other taxes(1) | 9,325 | | | 3,108 | | | Other | 3,240 | | | 3,843 | | | Total accrued and other current liabilities | $ | 38,759 | | | $ | 26,200 | |
(1) Includes indemnified Specific Tax Loss Liabilities of $6.3 million from the Stereolabs acquisition. The indemnification of the Specific Tax Loss is capped at $1.9 million. See Note 3.
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