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 $ (62,237) $ (43,008)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation and amortization 5,344 2,952
Unrealized (gain) loss on derivative liability 4,655 (2,794)
Unrealized gain on warrant liability (1,495) (2,564)
Loss on debt extinguishment 3,083 4,654
Bargain purchase gain (147)
Gain on disposal of fixed assets (168)
Impairment of operating lease right-of-use assets 9
Inventory write-downs 52
Non-cash interest expense 7,325
Amortization of debt discount and issuance costs on notes payable 8,219 7,723
Share-based compensation expense 2,287 3,851
Net accretion of premium on short-term investments (81) (195)
Change in:    
Accounts receivable (868) 822
Inventory 833 (3,796)
Other current and non-current assets 1,115 (210)
Accounts payable 4,248 432
Accrued liabilities 2,085 (275)
Contract liabilities and other current liabilities (92) (450)
Operating lease liabilities (2,409) (1,097)
Other long-term liabilities (21) (197)
Net cash used in operating activities (35,588) (26,827)
Cash flows from investing activities    
Sales of investment securities 42,528 22,402
Purchases of investment securities (19,326)
Purchases of property and equipment (448) (307)
Cash paid for business combination (33,178)
Net cash provided by investing activities 8,902 2,769
Cash flows from financing activities    
Principal payments under finance leases (8) (6)
Principal proceeds from notes payable, net of debt discount and issuance costs 20,624
Net proceeds from issuance of common stock and warrants 769 43,289
Net cash provided by financing activities 21,385 43,283
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 111 319
Change in cash, cash equivalents, and restricted cash (5,190) 19,544
Cash, cash equivalents, and restricted cash at beginning of period 34,064 56,247
Cash, cash equivalents, and restricted cash at end of period 28,874 75,791
Supplemental schedule of non-cash investing and financing activities    
Common stock issued in conversions of notes payable 24,184 21,980
Issuance of warrants 6,297
Acquisition of right-of-use asset 5,487 67
Foreign currency translation adjustment 92 540
Unrealized loss on investment securities, available-for-sale $ (24) $ (22)