v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net (loss) income $ (24,934) $ 15,272
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Stock-based compensation 3,558 2,290
Depreciation of property and equipment 761 437
Amortization of intangible assets 711 0
Change in fair value of warrant liabilities 232 (29,351)
Change in fair value of contingent consideration 170 0
Loss on disposal of assets 27 0
Amortization of investment discount (446) (647)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (1,256) (103)
Unbilled receivable (878) (318)
Inventories (600) (5)
Prepaid expenses and other current assets (54) (26)
Operating lease assets & other non-current assets 513 684
Accounts payable 7 (120)
Accrued liabilities and current operating lease liabilities 2,361 (469)
Operating lease liabilities (573) (486)
Net cash used in operating activities (20,401) (12,842)
Cash flows from investing activities:    
Purchases of property and equipment (889) (93)
Proceeds from sale of property and equipment 100 0
Purchases of marketable securities (21,701) (47,036)
Maturities of marketable securities 41,000 14,000
Net cash provided by (used in) investing activities 18,510 (33,129)
Cash flows from financing activities:    
Proceeds from exercise of stock options 163 54
Proceeds from issuance of common stock under ESPP 85 76
Proceeds from the exercise of warrants 0 6,419
Payment of obligations under finance leases (74) 0
Payment of equipment financing liabilities (35) 0
Proceeds from issuance of common stock 17,842 29,311
Payment of offering costs related to issuance of common stock (535) (879)
Payment of transaction costs related to issuance of common stock 0 (50)
Net cash provided by financing activities 17,446 34,931
Net increase (decrease) in cash and cash equivalents 15,555 (11,040)
Cash and cash equivalents at beginning of period 18,219 31,188
Cash and cash equivalents at end of period 33,774 20,148
Supplemental disclosure of cash flow information:    
Cash paid for interest 111 0
Supplemental disclosure of non-cash activities:    
Purchase of property and equipment included in accounts payable at period-end 131 0
Operating lease right-of-use assets obtained in exchange for lease liabilities $ 293 $ 0