v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net loss $ (36,682) $ (23,171)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 2,460 1,893
Depreciation and amortization 325 344
Accretion of discounts on available-for-sale investments (10) (537)
Loss on disposal of property and equipment 0 34
Change in operating assets and liabilities:    
Accounts receivable, net (2,923) 789
Prepaid expenses and other current assets 2,373 (3,524)
Other non-current assets 3 (7)
Accounts payable 52 1,952
Accrued liabilities 2,657 131
Contract liabilities (167) 0
Operating lease liabilities (8) 56
Other non-current liabilities (7) (510)
Net cash used in operating activities (31,927) (22,550)
Investing activities:    
Purchases of short-term investments (4,469) (30,470)
Proceeds from maturities and sales of short-term investments 6,000 15,340
Purchases of property and equipment 0 (384)
Proceeds from sale of property and equipment 0 2
Net cash provided by (used in) investing activities 1,531 (15,512)
Financing activities:    
Proceeds from private placement 20,154 0
Payment of private placement issuance costs (1,518) 0
Proceeds from purchases under the Employee Stock Purchase Plan 176 143
Proceeds from issuances of ordinary shares under the Stock Incentive Plan 137 20
Net cash provided by financing activities 18,949 163
Effect of exchange rate changes on cash and cash equivalents 117 299
Net decrease in cash and cash equivalents (11,330) (37,600)
Cash and cash equivalents at beginning of period 38,345 78,232
Cash and cash equivalents at end of period 27,015 40,632
Supplemental disclosure of cash flow information:    
Income taxes paid - federal 10 123
Income taxes paid - state 1 1
Private placement issuance costs, accrued but not paid $ 75 $ 0