v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 107,598 $ 12,806
Restricted cash, current 106 55
Accounts receivable 611 0
Insurance receivable 0 100
Prepaids and other current assets 4,797 9,321
Total current assets 113,112 22,282
Property, machinery and equipment, net 464 953
Intangible assets, net 175 201
Operating right-of-use asset 7,088 7,686
Other non-current assets 8,695 9,197
Total assets 129,534 40,319
Current liabilities:    
Accounts payable 3,987 4,081
Accrued liabilities 825 2,272
Loan payable, current 0 3,479
Contract liabilities, current 209 4,058
Operating lease liability, current 956 836
Litigation settlement contingency 1,662 802
Other current liabilities 615 541
Total current liabilities 8,254 16,069
Contract liabilities, non-current 120 120
Warrant liability 3 3
Operating lease liability, non-current 6,897 6,987
Total non-current liabilities 7,020 7,110
Total liabilities 15,274 23,179
Commitments and Contingencies (Note 12)
Stockholders’ equity:    
Series A preferred stock, $0.00001 par value; 20,000,000 shares authorized and 0 issued and outstanding as of June 30, 2026; 20,000,000 shares authorized and 547,408 issued and outstanding as of December 31, 2025 0 0
Additional paid-in capital 570,587 455,718
Accumulated deficit (456,327) (438,578)
Total stockholders’ equity 114,260 17,140
Total liabilities and stockholders’ equity 129,534 40,319
Common Class A    
Stockholders’ equity:    
Common stock, value 0 0
Common Class B    
Stockholders’ equity:    
Common stock, value $ 0 $ 0