Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 9,605 $ 19,627
Restricted cash, current 2,900 3,675
Inventory 22,039 19,351
Prepaid expenses and other current assets 3,609 2,288
Total current assets 38,153 44,941
Restricted cash, noncurrent 1,002 1,002
Property and equipment, net 3,885 3,677
Intangible assets, net 2,644 712
Operating lease right-of-use assets 12,025 12,532
Other long-term assets 2,129 2,146
Total assets 59,838 65,010
Current liabilities:    
Accounts payable 8,392 6,800
Accrued expenses 8,813 11,546
Deferred revenue 5,820 6,340
Operating lease liabilities, current 1,992 1,636
Other current liabilities 793 742
Total current liabilities 25,810 27,064
Debt, noncurrent 7,500 7,500
Operating lease liabilities, noncurrent 12,274 12,949
Derivative liabilities 1,130 1,274
Total liabilities 46,714 48,787
Commitments and contingencies (Note 7)
Redeemable convertible preferred stock, $0.0001 par value — 100,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 25,000 shares issued and outstanding as of March 31, 2025 and December 31, 2024 24,772 24,772
Stockholders’ deficit:    
Common stock, $0.0001 par value — 600,000,000 Class A shares authorized as of March 31, 2025 and December 31, 2024; 40,254,806 and 35,871,574 Class A shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively; 200,000,000 Class B shares authorized as of March 31, 2025 and December 31, 2024; None and 3,913,149 Class B shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 4 4
Additional paid-in capital 640,408 639,960
Accumulated deficit (652,060) (648,513)
Total stockholders’ deficit (11,648) (8,549)
Total liabilities, redeemable convertible preferred stock and stockholders’ deficit $ 59,838 $ 65,010