v3.26.1
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Revenue $ 7,435 $ 3,659 $ 13,965 $ 6,458
Cost of revenue 4,375 1,832 8,233 2,819
Gross profit 3,060 1,827 5,732 3,639
Operating expenses:        
Research and development 1,624 901 3,348 1,753
Selling, general and administrative 3,300 1,969 6,597 3,971
Total operating expenses 4,924 2,870 9,945 5,724
Loss from operations (1,864) (1,043) (4,213) (2,085)
Non-operating expense, net:        
Interest expense, net (745) (379) (1,675) (1,070)
Other expense (income), net (4) 9 (8) 24
Change in fair value of warrant liability 89 (2,796) (84) (3,501)
Change in fair value of derivative liability 0 0 0 101
Change in fair value of earnout liability (250) 210 (200) 160
Loss on issuance of debt 0 0 0 (6,640)
Loss on debt extinguishment and modification (8,294) 0 (8,294) (2,124)
Total non-operating expense, net (9,204) (2,956) (10,261) (13,050)
Loss before income tax expense (11,068) (3,999) (14,474) (15,135)
Income tax expense 2 3 2 3
Net loss and comprehensive loss (11,070) (4,002) (14,476) (15,138)
Net loss attributable to common stockholders $ (11,070) $ (4,002) $ (14,476) $ (15,138)
Net loss per share, basic (in dollars per share) [1] $ (0.75) $ (0.42) $ (1.01) $ (1.63)
Net loss per share, diluted (in dollars per share) [1] $ (0.75) $ (0.42) $ (1.01) $ (1.63)
Weighted-average shares outstanding, basic (in shares) [1] 14,831 9,451 14,317 9,312
Weighted-average shares outstanding, diluted (in shares) [1] 14,831 9,451 14,317 9,312
[1] Share and per share amounts for the three and six months ended June 30, 2025 differ from those published in prior unaudited condensed consolidated financial statements as they were retrospectively adjusted as a result of the Reverse Stock Split (refer to Note 1 - The Company and Summary of Significant Accounting Policies). Specifically, the number of common shares outstanding during the periods before the Reverse Stock Split are divided by the exchange ratio of 3:1, such that each three shares of common stock were combined and reconstituted into one share of common stock effective October 23, 2025.