v3.26.1
Revision of Previously Reported Information
6 Months Ended
Jun. 30, 2026
Statement of Financial Position [Abstract]  
Revision of Previously Reported Information

Note 19 — Revision of Previously Reported Information

In connection with the preparation of the Report, the Company identified immaterial errors in its previously reported financial statements for the periods ended December 31, 2024, March 31, 2025, June 30, 2025, December 31, 2025, and March 31, 2026 relating to the improper recording of vendor accrued purchases.

In accordance with SAB 99, Materiality, and SAB 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in the Current Year Financial Statements, the Company evaluated the materiality of the errors from qualitative and quantitative perspectives, and concluded that the errors were immaterial to any prior interim financial statements. Notwithstanding this

conclusion, management has revised the accompanying unaudited condensed consolidated financial statements for the affected periods, and related notes included herein to correct the errors.

The following tables present the effect of correcting this error on the Company's previously issued financial statements (in thousands).

 

For the period ended December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

As previously reported

 

 

Adjustment

 

 

As revised

 

 

 

 

 

 

 

 

 

 

 

Consolidated Statement of Stockholders' Equity

 

 

 

 

 

 

 

 

 

Accumulated deficit

 

$

(203,420

)

 

$

510

 

 

$

(202,910

)

Total stockholders' equity

 

 

33,610

 

 

 

510

 

 

 

34,120

 

 

For the period ended March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

As previously reported

 

 

Adjustment

 

 

As revised

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidated Statement of Stockholders' Equity

 

 

 

 

 

 

 

 

 

Net and comprehensive loss

 

$

(10,186

)

 

$

25

 

 

$

(10,161

)

Accumulated deficit

 

 

(213,606

)

 

 

535

 

 

 

(213,071

)

Total stockholders' equity

 

 

24,807

 

 

 

535

 

 

 

25,342

 

 

For the three months ended June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

As previously reported

 

 

Adjustment

 

 

As revised

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidated Statement of Operations and Comprehensive Loss

 

 

 

 

 

 

 

 

 

Cost of goods sold

 

$

16,774

 

 

$

(18

)

 

$

16,756

 

Gross profit

 

 

1,619

 

 

 

18

 

 

 

1,637

 

Loss from operations

 

 

(7,081

)

 

 

18

 

 

 

(7,063

)

Loss before provision for income taxes

 

 

(7,492

)

 

 

18

 

 

 

(7,474

)

Net loss

 

 

(7,505

)

 

 

18

 

 

 

(7,487

)

Net and comprehensive loss

 

 

(7,505

)

 

 

18

 

 

 

(7,487

)

 

For the six months ended June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

As previously reported

 

 

Adjustment

 

 

As revised

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidated Statement of Operations and Comprehensive Loss

 

 

 

 

 

 

 

 

 

Cost of goods sold

 

$

21,442

 

 

$

(43

)

 

$

21,399

 

Gross profit

 

 

2,830

 

 

 

43

 

 

 

2,873

 

Loss from operations

 

 

(16,350

)

 

 

43

 

 

 

(16,307

)

Loss before provision for income taxes

 

 

(17,666

)

 

 

43

 

 

 

(17,623

)

Net loss

 

 

(17,691

)

 

 

43

 

 

 

(17,648

)

Net and comprehensive loss

 

 

(17,691

)

 

 

43

 

 

 

(17,648

)

 

For the period ended June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

As previously reported

 

 

Adjustment

 

 

As revised

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidated Statement of Stockholders' Equity

 

 

 

 

 

 

 

 

 

Net and comprehensive loss

 

$

(7,505

)

 

$

18

 

 

$

(7,487

)

Accumulated deficit

 

 

(221,111

)

 

 

553

 

 

 

(220,558

)

Total stockholders' equity

 

 

18,328

 

 

 

553

 

 

 

18,881

 

 

For the period ended June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

As previously reported

 

 

Adjustment

 

 

As revised

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidated Statement of Cash Flows

 

 

 

 

 

 

 

 

 

Net loss

 

$

(17,691

)

 

$

43

 

 

$

(17,648

)

Other liabilities

 

 

2,625

 

 

 

(43

)

 

 

2,582

 

 

For the period ended December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

As previously reported

 

 

Adjustment

 

 

As revised

 

 

 

 

 

 

 

 

 

 

 

Consolidated Balance Sheet

 

 

 

 

 

 

 

 

 

Other current liabilities

 

$

14,685

 

 

$

(674

)

 

$

14,011

 

Total current liabilities

 

 

23,658

 

 

 

(674

)

 

 

22,984

 

Total liabilities

 

 

37,076

 

 

 

(674

)

 

 

36,402

 

Accumulated deficit

 

 

(228,740

)

 

 

674

 

 

 

(228,066

)

Total stockholders' equity

 

 

23,287

 

 

 

674

 

 

 

23,961

 

 

For the period ended December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

As previously reported

 

 

Adjustment

 

 

As revised

 

 

 

 

 

 

 

 

 

 

 

Consolidated Statement of Stockholders' Equity

 

 

 

 

 

 

 

 

 

Accumulated deficit

 

 

(228,740

)

 

 

674

 

 

 

(228,066

)

Total stockholders' equity

 

 

23,287

 

 

 

674

 

 

 

23,961

 

 

For the period ended March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

As previously reported

 

 

Adjustment

 

 

As revised

 

 

 

 

 

 

 

 

 

 

 

Condensed Consolidated Statement of Stockholders' Equity

 

 

 

 

 

 

 

 

 

Net loss

 

$

(4,953

)

 

$

37

 

 

$

(4,916

)

Accumulated deficit

 

 

(233,693

)

 

 

711

 

 

 

(232,982

)

Total stockholders' equity

 

 

19,790

 

 

 

711

 

 

 

20,501