v3.26.3
Condensed Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Net loss $ (60,357) $ (39,885)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 733 1,050
Noncash lease expense (36) (76)
Stock-based compensation expense 16,820 8,864
Amortization of debt discount and accretion of premium on term loans 341 308
Accretion (amortization) of discount and premium on marketable securities (1,701) (1,389)
Loss on disposal of property and equipment and recorders 115 79
Loss on debt extinguishment 1,549  
Changes in operating assets and liabilities:    
Accounts receivable, net (2,739) (1,356)
Inventory 333 913
Prepaid expenses and other current assets (85) 391
Contract costs 322 (627)
Accrued interest on marketable securities 242  
Other non-current assets 17 (221)
Accounts payable (444) 1,156
Accrued liabilities and other current liabilities (738) 748
Contract liabilities and deferred revenue 129 11
Other liabilities, long-term 261  
Net cash used in operating activities (45,238) (30,034)
Cash flows from investing activities    
Purchases of recorder components and recorders (1,563) (382)
Purchases of property and equipment (242) (588)
Purchases of marketable securities (88,335) (188,775)
Proceeds from sales of marketable securities 15,299  
Proceeds from maturities of marketable securities 117,500 45,500
Net cash provided by (used in) investing activities 42,659 (144,245)
Cash flows from financing activities    
Proceeds related to employee stock plans 6,039 3,798
Debt issuance cost (547) (150)
Proceeds from revolving line of credit 40,000  
Payments on revolving line of credit (20,000)  
Payments on term loan debt (20,000)  
Payments on debt extinguishment (1,400)  
Net cash provided by financing activities 4,092 3,648
Net increase (decrease) in cash and cash equivalents 1,513 (170,631)
Cash and cash equivalents, beginning of period 40,476 194,370
Cash and cash equivalents, end of period 41,989 23,739
Supplemental disclosure of cash flow information    
Cash paid for interest 1,141 1,430
Property and equipment included in accounts payable and accrued expenses 96 27
Recorder components included in accounts payable and accrued expenses $ 19 $ 40