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 $ (34,527) $ (22,522)
Adjustment to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 409 197
Amortization of deferred loan costs and discount on notes payable 310 308
Lease amortization 572 583
Stock-based compensation 1,843 1,209
Loss on disposal of fixed assets 35
Accretion of discount on marketable securities (86) (324)
Changes in operating assets and liabilities:    
Accounts and other receivables, net (573) (1,657)
Inventory (4,982) (4,603)
Prepaid expenses 847 432
Other assets (640) 146
Accounts payable (1,774) 23
Accrued expenses and other liabilities 403 (528)
Interest payable (17) (18)
Operating lease liability 770 1,679
Net cash used in operating activities (37,445) (25,040)
Cash flows from investing activities    
Purchase of property and equipment (6,141) (949)
Purchase of marketable securities (22,208) (9,369)
Maturities of marketable securities 38,291 24,809
Sales of marketable securities 4,757 4,311
Net cash provided by investing activities 14,699 18,802
Cash flows from financing activities    
Repayment of notes payable (37)
Proceeds from exercise of stock options 150 432
Proceeds from issuance of common stock 80,218 48,828
Payment of common stock issuance costs (4,044) (2,313)
Net cash provided by financing activities 76,324 46,910
Effect of exchange rate change on cash (22) 7
Net change in cash, cash equivalents, and restricted cash 53,556 40,679
Cash, cash equivalents, and restricted cash, beginning of the period 8,398 6,918
Cash, cash equivalents, and restricted cash, end of the period 61,954 47,597
Supplemental disclosure of cash flow information    
Cash paid for interest expense 2,358 2,538
Cash paid for income taxes 2 1
Supplemental disclosure of non-cash investing and financing activities    
Purchases of property and equipment not yet paid 82 1,524
Accrued common stock issuance costs 343 286
Leased assets obtained in exchange for finance lease liability 39
Initial recognition of right of use asset and operating lease liability $ 12,838