v3.26.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets    
Cash $ 5,574 $ 279
Accounts receivable, net 1,922 1,253
Inventory, net 284 293
Prepaid expenses and other current assets 1,593 570
Total current assets 9,373 2,395
Inventory, non-current 3,117 3,096
Property and equipment, net 25,906 27,214
Leases right-of-use assets 1,134 1,431
Other non-current assets 1,118 848
Total assets 40,648 34,984
Current liabilities    
Accounts payable 792 6,773
Accrued expenses and other current liabilities 1,778 1,990
Short-term operating lease liabilities 382 440
Short-term debt 5,753
Total current liabilities 2,952 14,956
Long-term liabilities    
Operating lease liabilities, non-current 759 993
Other non-current liabilities 2,334 2,601
SAFE liability 4,086
Total long-term liabilities 3,093 7,680
Total liabilities 6,045 22,636
Commitments and contingencies (Note 9)
Redeemable convertible preferred stock, $0.0001 par value; No shares authorized, issued and outstanding as of September 30, 2026; 78,739,567 shares authorized and 72,794,660 shares issued and outstanding as of December 31, 2025; aggregate liquidation preference of $0 and $167,038 as of September 30, 2026 and December 31, 2025, respectively 191,199
Stockholders’ equity (deficit)    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding as of September 30, 2026. No shares authorized, issued, or outstanding as of December 31, 2025.
Common stock, $0.0001 par value; 510,000,000 shares authorized and 106,313,117 shares issued and outstanding as of September 30, 2026; 110,048,016 shares authorized and 13,118,276 shares issued and outstanding as of December 31, 2025. 11 2
Additional paid-in capital 248,332 7,710
Accumulated deficit (213,740) (186,563)
Total stockholders’ equity (deficit) 34,603 (178,851)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit) $ 40,648 $ 34,984