v3.26.1
UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents, including restricted cash of $220 and $0, respectively $ 7,040 $ 18,481
Accounts receivable, net of allowance for credit losses of $232 and $614, respectively 26,630 24,849
Inventories 23,030 29,713
Prepaid expenses and other current assets 8,120 7,971
Due from related parties 3,626 3,095
Total current assets 68,446 84,109
Non-current assets:    
Goodwill 44,622 44,961
Property, plant, and equipment, net 9,801 11,767
Intangible assets, net 36,149 36,185
Right-of-use assets, net 1,938 2,073
Deferred tax assets, net 89 87
Other non-current assets 3,260 3,345
Total non-current assets 95,859 98,418
Total assets 164,305 182,527
Current liabilities:    
Accounts payable 32,064 37,947
Accrued expenses and other current liabilities 25,286 34,836
Loans payable, current 0 2,897
Contract liabilities, current 12,062 12,272
Accrued warranties 13,696 15,918
Lease liabilities, current 896 1,011
Due to related parties 23,980 5,343
Total current liabilities 107,984 110,224
Non-current liabilities:    
Loans payable, non-current 64,261 61,083
Contract liabilities, non-current 18,095 17,971
Lease liabilities, non-current 1,652 1,751
Deferred tax liabilities 9,000 9,000
Total non-current liabilities 93,008 89,805
Total liabilities 200,992 200,029
Commitments and contingencies
Shareholders’ deficit:    
Ordinary Shares par value of $0.001; 990,000,000 shares authorized. 475,122,370 shares issued and 471,446,050 shares outstanding as of June 30, 2026; 465,868,720 shares issued and 462,192,400 shares outstanding as of December 31, 2025. 10,000,000 shares, $0.001 par value, without designation; none authorized, issued and outstanding as of June 30, 2026 and December 31, 2025. 474 465
Treasury shares, at cost, 3,676,320 as of June 30, 2026 and December 31, 2025 (454) (454)
Additional paid-in capital 488,275 487,481
Accumulated other comprehensive income 3,810 3,648
Accumulated deficit (528,792) (508,642)
Total shareholders’ deficit (36,687) (17,502)
Total liabilities and shareholders’ equity $ 164,305 $ 182,527