v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities    
Net (loss) income $ (32,849) $ 2,702
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Stock-based compensation 4,658 1,943
Equity in loss of unconsolidated affiliate 43 38
Depreciation and amortization 2,155 1,544
Noncash lease expense 441 818
Deferred income taxes, net (2,164) (491)
Bad debt expense and other non-cash items 160 25
Accrued interest on long-term certificates of deposit 105 189
Accretion of premium or discount on short-term investments (10) (44)
Change in fair value of financial liabilities, net (220) (2,467)
Foreign currency exchange Gain 39 40
Loss on disposal of property and equipment 18 1
Changes in operating assets and liabilities:    
Notes receivable 5,374 3,879
Accounts receivable 4,100 (4,966)
Inventories (921) (2,495)
Prepaid and other assets 2,065 (704)
Income tax payable (877) (1,753)
Accounts payable (110) 454
Deferred revenue   (8,205)
Due to related parties 4,800  
Accrued expenses and other liabilities 181 2,423
Net proceeds from CVR liability settlement   25
Operating lease liabilities (536) (559)
Net cash used in operating activities (13,548) (7,603)
Investing Activities    
Acquisition of intangible assets (1,029) (722)
Purchase of certificates of deposit (15,875) (19,184)
Purchase of available for sale securities (2,032) (11,224)
Proceeds of available for sale securities 13,068 11,699
Purchase of property and equipment (440) (457)
Proceeds from sale of equipment 13 19
Proceeds from maturity of certificates of deposit 12,997 23,190
Net cash provided by investing activities 6,702 3,321
Financing Activities    
Payments of listing expense (208) (2,106)
Deferred financing costs paid   (1,802)
Proceeds from the exercise of stock options 221 1,988
Proceeds from the issuance of common stock   23,000
Net cash provided by financing activities 13 21,589
Effect of exchange rate changes on cash 928 10
Net (decrease) increase in cash (5,905) 17,317
Cash at beginning of the period 49,192 39,048
Cash at end of period 43,287 56,365
Supplement disclosure of non-cash operating activities:    
Right-of-use asset obtained in exchange for operating lease liabilities   1,602
Supplemental Disclosure of Non-Cash Financing and Investing Activities:    
Accretion of Cullgen redeemable convertible preferred stock $ 5,220 3,905
Purchase of property and equipment and intangible assets included in accrued expenses and other liabilities   36
Unpaid listing expense included in accrued expenses   127
ATM Program    
Financing Activities    
Proceeds from the issuance of common stock   $ 509