v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2026
Jun. 30, 2025
Sep. 30, 2025
Sep. 30, 2024
Operating activities                
Net loss $ (16,795) $ (10,125) $ (8,272) $ (19,839) $ (32,773) $ (30,402)    
Adjustments to reconcile net loss to net cash used in operating activities:                
Depreciation 42   60   129 306    
Amortization of intangible assets 395   407   1,195 1,285    
Impairment of long-lived assets   725   725    
Issuance of warrants to placement agent         280    
Issuance of common stock for amendment of RaGE earnout         1,121    
Change in fair value of earnout liability   (210)   (960) (490)    
Change in fair value of warrants (108)   (612)   320 (1,237)    
Change in fair value of notes payable 27     27    
Loss on extinguishment of notes payable 3,791   17   4,218 300    
Loss on issuance of preferred shares and liability-classified warrants 3,707     3,707    
Noncash private placement costs expensed         514    
Noncash financing costs expensed 600   443   600 443    
Stock-based compensation 2,350   7,102   9,941 20,256    
Deferred income taxes         (22) (15)    
Loss on disposal of assets         472    
Other non-cash items         (389) (508)    
Changes in operating assets and liabilities:                
Accounts receivable         588 1,331    
Inventory         (27) 479    
Prepaid expenses and other assets         (1,100) (104)    
Accounts payable         (2,835) 376    
Accrued expenses and other current liabilities         1,027 903    
Net cash used in operating activities         (14,719) (5,600) $ 10,113 $ 18,388
Investing activities                
Proceeds from sale of property and equipment         27    
Acquisition of property and equipment         (9) (16)    
Net cash provided by (used in) investing activities         (9) 11    
Financing activities                
Proceeds from sale of common stock and warrants in private placement         3,645    
Proceeds from issuance of common stock         1,254 600    
Proceeds from issuance of preferred shares and liability-classified warrants         1,975    
Proceeds from exercise of stock options         55    
Proceeds from issuance of common stock in public offering         5,360    
Proceeds from exercise of warrants         17    
Proceeds from issuance of notes payable         8,649 2,575    
Principal payments on notes payable         (2,842) (655)    
Principal payments on notes payable - related parties         (854) (445)    
Deferred consideration paid for acquisition of business         (174)    
Net cash provided by financing activities         13,597 5,563    
Net increase (decrease) in cash         (1,131) (26)    
Cash, beginning of period   $ 3,273   $ 266 3,273 266 266  
Cash, end of period $ 2,142   $ 240   2,142 240 $ 3,273 $ 266
Supplemental cash flow information                
Cash paid for interest         1,706 757    
Cash paid for income taxes            
Non-cash investing and financing activities:                
Settlement of notes payable and other liabilities in common stock         $ 10,561 $ 1,361