v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Jun. 30, 2025
Current assets:      
Cash and cash equivalents $ 36,847,000 $ 45,781,000 $ 28,588,000
Inventories, net 10,027,000 10,130,000  
Prepaid expenses and deposits 12,858,000 3,240,000  
Other current assets 392,000   763,000
Total current assets 73,984,000 96,607,000  
Property and equipment, net 1,401,000 1,226,000  
Deferred income tax assets 2,036,000 2,123,000  
Other assets 2,093,000 2,255,000  
Assets 79,514,000 102,211,000  
Current liabilities      
Accrued trade payables 1,528,000 22,838,000  
Accrued expenses and other current liabilities 9,988,000 7,344,000  
Accrued expenses - related party 0 331,000  
Unissued shares of common stock for related party settlement 2,760,000 0  
Total current liabilities 19,904,000 43,389,000  
Other earnout shares 6,827,000 8,929,000  
Polar warrants 7,969,000 8,813,000  
Other liabilities 2,024,000 2,080,000  
Total liabilities 36,724,000 63,211,000  
Commitments and contingencies  
Stockholders’ equity:      
Common stock - $0.0001 par value; 600,000,000 and 600,000,000 shares authorized as of June 30, 2026 and December 31, 2025, respectively, and 142,778,075 and 122,043,966 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 14,000 12,000  
Additional paid-in capital 729,903,000 675,143,000  
Accumulated other comprehensive income 490,000 0  
Accumulated deficit (687,617,000) (636,155,000)  
Total stockholders’ equity 42,790,000 39,000,000 $ (4,810,000)
Total liabilities and stockholders’ equity 79,514,000 102,211,000  
Nonrelated party      
Current assets:      
Accounts receivable, net of allowance for credit losses of $9,548 and $523, respectively 13,860,000 33,363,000  
Current liabilities      
Accounts payable 5,628,000 8,339,000  
Other earnout shares 5,163,000 6,745,000  
Related party      
Current assets:      
Accounts receivable, net of allowance for credit losses of $9,548 and $523, respectively 0 3,330,000  
Current liabilities      
Accounts payable 0 180,000  
Other earnout shares 1,664,000 2,184,000  
Working Capital Loan      
Current liabilities      
Working capital loan and advances from related party 0 1,500,000  
Advances from related party      
Current liabilities      
Working capital loan and advances from related party $ 0 $ 2,857,000