Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash Flows from Operating Activities    
Net loss $ (10,133) $ (14,788)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on lease modification 0 (3,139)
Stock-based compensation expense 3,456 9,268
Depreciation and amortization 1,287 7,401
Changes in fair value of derivative liabilities (189) (8,019)
Non-cash interest expense 270 2,811
Asset impairment charges 0 700
Inventory write-down (577) (1,883)
Other non-cash expenses 8 (133)
Changes in operating assets and liabilities:    
Inventory 1,989 6,113
Prepaids and other assets 955 340
Accounts payable (436) 1,318
Accrued expenses (2,720) (5,040)
Deferred revenue (1,207) (384)
Operating lease right-of-use assets and liabilities 579 (4,671)
Other liabilities (207) 87
Net cash used in operating activities (6,925) (10,019)
Cash Flows from Investing Activities    
Cash paid for acquisitions (2,848) 0
Proceeds from sale of property and equipment 13 93
Purchase of property and equipment (1,133) (1,392)
Net cash used in investing activities (3,968) (1,299)
Cash Flows from Financing Activities    
Payments of Stock Issuance Costs (18) 0
Payment on finance agreement (118) 0
Payments related to stock-based award activities, net (1,063) (1,077)
Payment of debt issuance costs 0 (114)
Repayment of debt 0 (42,000)
Proceeds from issuance of redeemable convertible preferred stock 0 15,000
Proceeds from issuance under employee stock purchase plan 141 235
Payment of debt modification costs (44) 0
Net cash used in financing activities (1,102) (27,956)
Net decrease in cash, cash equivalents and restricted cash (11,995) (39,274)
Cash, cash equivalents and restricted cash at beginning of period 24,304 94,863
Cash, cash equivalents and restricted cash at end of period 12,309 55,589
Supplemental Disclosure    
Cash paid for taxes 32 45
Cash paid for interest 436 9,160
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Purchase of property and equipment in accounts payable and accrued liabilities 0 290
Debt issuance costs in accounts payable and accrued liabilities 13 119
Costs of debt extinguishment in accrued liabilities 77 0
Financing agreement entered into for prepaid insurance 588 0
Lease liabilities arising from obtaining operating lease right-of-use assets 0 6,506
Preferred Stock issuance costs, common stock issuance costs and costs to settle Additional Shares Liability in accounts payable and accrued liabilities 25 458
Cancellation of Volition Warrant 0 300
Reconciliation of cash, cash equivalents, and restricted cash:    
Cash and cash equivalents 8,907 50,762
Restricted cash, current 2,400 3,825
Restricted cash, noncurrent 1,002 1,002
Total cash, cash equivalents and restricted cash $ 12,309 $ 55,589