v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:        
Net loss $ (11,070) $ (4,002) $ (14,476) $ (15,138)
Adjustment to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 21 38 41 76
Stock-based compensation     1,049 320
Loss on issuance of debt 0 0 0 6,640
Loss on debt extinguishment and modification 8,294 0 8,294 2,124
Non-cash interest     1,123 548
Non-cash operating lease     (26) (19)
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)
Changes in operating assets and liabilities:        
Accounts receivable     (1,623) (3,584)
Inventory     (4,072) (90)
Prepaid expenses and other current assets     (350) (1,227)
Accounts payable     (396) 772
Accrued expenses and other current liabilities     982 924
Other liabilities     679 435
Net cash used in operating activities     (8,491) (4,979)
Cash flows from investing activities:        
Purchases of property and equipment     (191) (47)
Net cash used in investing activities     (191) (47)
Cash flows from financing activities:        
Proceeds from sale of common stock and warrants     9,305 700
Proceeds from long-term debt, net of issuance costs     0 10,000
Proceeds from stock option exercises     246 0
Repayment of long-term debt     (9) (4,674)
Payments for taxes related to net settlement of equity awards     (63) 0
Payment of stock issuance costs     (285) 0
Payment of debt issuance costs     0 (150)
Net cash provided by financing activities     9,194 5,876
Net increase in cash and cash equivalents and restricted cash and cash equivalents     512 850
Cash and cash equivalents and restricted cash and cash equivalents, beginning balance     10,462 1,192
Cash and cash equivalents and restricted cash and cash equivalents, ending balance 10,974 2,042 10,974 2,042
Reconciliation of cash and cash equivalents and restricted cash and cash equivalents to the condensed consolidated balance sheets:        
Cash 10,924 2,022 10,924 2,022
Restricted cash and cash equivalents 50 20 50 20
Total cash and restricted cash and cash equivalents $ 10,974 $ 2,042 10,974 2,042
Supplemental disclosure of cash flow information:        
Cash paid for income taxes     2 3
Cash paid for interest     0 12
Supplemental disclosures of noncash investing and financing activities:        
Transfer of inventory to property and equipment     325 0
Accrued interest capitalized upon debt extinguishment     1,297 0
Debt issuance costs included in accrued expenses     0 144
Unpaid issuance costs included in accounts payable and accrued expenses and other current liabilities related to the sale of common stock and warrants     260 21
Conversion of long-term debt into common stock     0 183
Conversion of accrued interest into common stock     0 174
Deferred issuance costs included in accrued expenses     0 8
Reclassification of warrant liability upon warrant modification     0 22,986
Fair value of warrants issued in exchange for issuance of long-term debt     $ 0 $ 16,496