v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Total net revenue $ 6,717 $ 1,735 $ 10,133 $ 2,364
Total cost of net revenue 3,839 1,700 7,144 2,260
Gross profit 2,878 35 2,989 104
Operating Expenses:        
Research and development 7,235 4,224 12,964 6,585
Sales and marketing 7,184 1,742 13,820 3,237
General and administrative 14,915 6,528 33,611 12,172
Total operating expenses 29,334 12,494 60,395 21,994
Loss from operations (26,456) (12,459) (57,406) (21,890)
Interest expense, net (1,000) (17,202) (2,121) (17,322)
Change in fair value of 2025 Notes measured at fair value 0 (8,804) 0 (8,804)
Change in fair value of convertible note to related party measured at fair value 0 1,355 0 1,355
Loss on Crypto assets (8,094) 0 (25,050) 0
Extinguishment of debt 0 0 (1,725) 0
Impairment of investments in non-marketable securities (56,372) 0 (58,906) 0
Change in fair value of warrant liability 3,866 2 3,866 19
Other income/(expense), net 31 (3) 186 (32)
Loss before provision for income taxes (88,025) (37,111) (141,156) (46,674)
Provision for income taxes 0 5 0 5
Net loss attributable to common stockholders $ (88,025) $ (37,116) $ (141,156) $ (46,679)
Net loss per common share- basic (in dollars per share) $ (0.12) $ (0.54) $ (0.22) $ (0.77)
Net loss per common share- diluted (in dollars per share) $ (0.12) $ (0.54) $ (0.22) $ (0.77)
Weighted average number of common shares used in computing net loss per common share - Basic (in shares) 727,623,511 68,174,418 651,345,981 60,968,158
Weighted average number of common shares used in computing net loss per common share - Diluted (in shares) 727,623,511 68,174,418 651,345,981 60,968,158
Live Events        
Total net revenue $ 2,839 $ 1,432 $ 5,338 $ 1,432
Total cost of net revenue 3,278 1,396 6,073 1,396
Consumer Audio Products, Components and Other        
Total cost of net revenue 557 304 1,067 864
Consumer Audio Products, Components and Other | Nonrelated Party        
Total net revenue 1,053 277 1,829 895
Consumer Audio Products, Components and Other | Related Party        
Total net revenue 316 26 457 37
Patent License        
Total net revenue 2,509 0 2,509 0
Total cost of net revenue $ 4 $ 0 $ 4 $ 0