v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash $ 10,757 $ 279
Accounts receivable, net 1,525 1,253
Inventory, net 182 293
Prepaid expenses and other current assets 1,788 570
Total current assets 14,252 2,395
Inventory, non-current 3,192 3,096
Property and equipment, net 25,998 27,214
Leases right-of-use assets 1,357 1,431
Other non-current assets 524 848
Total assets 45,323 34,984
Current liabilities    
Accounts payable 448 6,773
Accrued expenses and other current liabilities 1,832 1,990
Short-term operating lease liabilities 468 440
Short-term debt 5,753
Total current liabilities 2,748 14,956
Long-term liabilities    
Operating lease liabilities, non-current 898 993
Other non-current liabilities 2,329 2,601
SAFE liability 4,086
Total long-term liabilities 3,227 7,680
Total liabilities 5,975 22,636
Commitments and contingencies (Note 9)
Redeemable convertible preferred stock, $0.0001 par value; No shares issued and outstanding as of June 30, 2026; 78,739,567 shares authorized and 72,794,660 shares issued and outstanding as of December 31, 2025; aggregate liquidation preference of $0 and $167,038 as of June 30, 2026 and December 31, 2025, respectively 191,199
Stockholders’ equity (deficit)    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding as of June 30, 2026. No shares authorized, issued, or outstanding as of December 31, 2025.
Common stock, $0.0001 par value; 510,000,000 shares authorized and 106,253,742 shares issued and outstanding as of June 30, 2026; 110,048,016 shares authorized and 13,118,276 shares issued and outstanding as of December 31, 2025. 11 2
Additional paid-in capital 248,140 7,710
Accumulated deficit (208,803) (186,563)
Total stockholders’ equity (deficit) 39,348 (178,851)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit) $ 45,323 $ 34,984