v3.26.3
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Dec. 31, 2024
Current assets:      
Cash $ 15,002 $ 27,967 $ 9,427
Accounts receivable 644 789 1,509
Contract assets 336 121 21
Prepaid expenses and other current assets 218 111 204
Total current assets 16,200 28,988 11,161
Property and equipment, net 5,213 4,084 2,754
Finance right-of-use assets 1,471 961 1,546
Operating right-of-use assets 1,600 1,436 151
Deferred offering costs 3,999 858
Other assets 185 190 225
Total assets 28,668 36,517 15,837
Current liabilities:      
Accounts payable 2,476 1,048 587
Accrued expenses and other current liabilities 3,305 1,602 541
Contract liabilities 520 579
Current portion of finance lease liabilities 397 223 504
Current portion of operating lease liabilities 26 24 129
Total current liabilities 6,724 2,897 2,340
Finance lease liabilities, net of current portion 782 489 678
Operating lease liabilities, net of current portion 2,203 1,555 24
Deferred tax liability 50 92 121
Total liabilities 9,759 5,033 3,163
Commitments and contingencies (Note 14)
Stockholders’ equity:      
Common stock, $0.0001 par value per share; 28,487,198 shares authorized as of September 30, 2026 and December 31, 2025, respectively; 10,838,376 and 10,670,829 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively 1 1 1
Additional paid-in capital 89,043 87,273 56,382
Accumulated other comprehensive loss (147) (129) (247)
Accumulated deficit (69,988) (55,661) (43,462)
Total stockholders’ equity 18,909 31,484 12,674
Total liabilities and stockholders’ equity 28,668 36,517 15,837
Series X Convertible Preferred Stock      
Stockholders’ equity:      
Preferred stock, value
Series A-2 Convertible Preferred Stock      
Stockholders’ equity:      
Preferred stock, value
Series SA-2 Convertible Preferred Stock      
Stockholders’ equity:      
Preferred stock, value
Series A-1 Convertible Preferred Stock      
Stockholders’ equity:      
Preferred stock, value
Series A Convertible Preferred Stock      
Stockholders’ equity:      
Preferred stock, value
Series Seed-2 Convertible Preferred Stock      
Stockholders’ equity:      
Preferred stock, value
Series Seed-1 Convertible Preferred Stock      
Stockholders’ equity:      
Preferred stock, value