v3.26.1
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities:    
Net loss $ (32,539) $ (59,252)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 9,944 9,951
Amortization 1,256 1,785
Stock-based compensation expense, net of amounts capitalized 1,988 2,850
Allowance for expected credit losses (18) (18)
Inventory allowance (242) (384)
Loss on disposal of property and equipment 76 14
Change in fair value of warrant liabilities (3,856) 5,009
Paid-in-kind interest 308 15,293
Amortization of debt premium (4,131) (1,717)
Amortization of debt issuance costs 328 2,100
Interest expense on financing obligation 314 314
Changes in operating assets and liabilities:    
Accounts receivable (649) (138)
Inventory 72 170
Prepaid expenses and other current assets (987) (49)
Other assets 0 (160)
Accounts payable 2,624 (1,027)
Operating lease liabilities (1) (3)
Finance lease liabilities 7 31
Accrued liabilities 12,069 6,961
Net cash used in operating activities (13,437) (18,270)
Investing Activities:    
Purchases of property and equipment (2,154) (10,884)
Net cash used in investing activities (2,154) (10,884)
Financing Activities:    
Proceeds from issuance of Series A preferred stock, net of issuance costs 0 21,408
Proceeds from issuance of common stock, net of issuance costs 0 3,543
Proceeds from issuance of debt 750 10,468
Proceeds from issuance of long-term debt, net of debt issuance costs 14,921 0
Payment of minimum employee taxes withheld upon net share settlement of restricted stock units (181) (536)
Principal payment on financing obligation (448) 0
Principal payment on finance lease liabilities (36) (24)
Net cash provided by financing activities 15,006 34,859
Net change in cash and cash equivalents and restricted cash (585) 5,705
Cash and cash equivalents and restricted cash at beginning of period 10,719 7,466
Cash and cash equivalents and restricted cash at end of period 10,134 13,171
Reconciliation of cash, cash equivalents, and restricted cash from the Unaudited Condensed Consolidated Balance Sheets to the Unaudited Condensed Consolidated Statements of Cash Flows    
Cash and cash equivalents 3,629 5,286
Restricted cash 6,505 7,885
Total cash and cash equivalents and restricted cash as shown in the Unaudited Condensed Consolidated Statements of Cash Flows 10,134 13,171
Non-cash investing and financing activities:    
Initial fair value of 2026 U.S. Bounti Warrant issued in connection with convertible note, recorded as debt discount 6,018 0
Addition of finance lease obligations and right-of-use assets 208 0
Purchases of property and equipment included in accounts payable and accrued liabilities 195 658
Stock-based compensation capitalized to property and equipment, net 82 234
Conversion of Series A Preferred Stock to common stock 0 21,408
Accrued interest capitalized to debt 0 15,293
Transaction costs recorded to Preferred Stock included in accounts payable 0 469
Deemed dividend to preferred stockholders $ 0 $ 403