v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ 20,573 $ (19,651)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 10,444 2,530
Non-cash interest expense 2,254 1,904
Non-cash tax benefit from release of valuation allowance (26,798)
Lease expense 14 120
Impairment of right-of-use assets 24
Stock-based compensation expense 1,665 1,612
Change in fair value of warrant liabilities (22) 372
Change in provision for credit losses, net (28) 146
Change in provision for inventory 394 507
Gain on disposal of property and equipment (2)
Gain on disposal of Extraction business (3,534)
Changes in operating assets and liabilities:    
Accounts receivable 474 (1,460)
Accounts receivable - related party 1,000 (454)
Inventory 2,267 (3,414)
Prepaid expenses and other current assets 179 (379)
Accounts payable 439 (320)
Accounts payable - related party (62) 60
Accrued expenses and other current liabilities (1,117) (1,638)
Accrued expenses and other current liabilities - related party 4,388 4,348
Operating lease liabilities (38) (123)
Contract liabilities (1,167)
Net cash and cash equivalents provided by (used in) operating activities 16,026 (20,519)
Cash flows from investing activities:    
Related party acquisition of MC Brands (5,075)
Related party acquisition of VCP (50,000)
Net cash and cash equivalents used in investing activities (55,075)
Cash flows from financing activities:    
Proceeds from related party notes 72,000
Proceeds from notes payable 8,000
Repayments of notes payable (3)
Net cash and cash equivalents provided by financing activities 79,997
Net increase in cash and cash equivalents 16,026 4,403
Cash and cash equivalents at the beginning of period 32,218 31,170
Cash and cash equivalents at the end of period 48,244 35,573
Supplemental disclosures    
Cash paid for interest 506 8
Cash paid for income taxes 215
Supplemental disclosure of non-cash investing and financing activities    
Issuance of pre-funded warrants in lieu of cash interest 6,813 1,794
Accrued pre-funded warrants in lieu of cash interest 108
Reclassification of accounts payable to notes payable $ 99