Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 8,490 $ 19,627
Restricted cash, current 2,300 3,675
Inventory 18,421 19,351
Prepaid expenses and other current assets 5,492 2,288
Total current assets 34,703 44,941
Restricted cash, noncurrent 1,002 1,002
Intangible assets, net 2,302 712
Property and equipment, net 3,653 3,677
Operating lease right-of-use assets 9,535 12,532
Other long-term assets 1,899 2,146
Total assets 53,094 65,010
Current liabilities:    
Accounts payable 8,828 6,800
Accrued expenses 9,476 11,546
Deferred revenue 5,033 6,340
Debt, current 800 0
Operating lease liabilities, current 2,895 1,636
Other current liabilities 665 742
Total current liabilities 27,697 27,064
Derivative liabilities 871 1,274
Debt, noncurrent 6,700 7,500
Operating lease liabilities, noncurrent 10,053 12,949
Total liabilities 45,321 48,787
Commitments and contingencies (Note 7)
Redeemable convertible preferred stock, $0.0001 par value – 100,000,000 shares authorized at December 31, 2025 and December 31, 2024; 25,000 shares issued and outstanding at December 31, 2025 and December 31, 2024 24,772 24,772
Stockholders’ deficit:    
Common stock - Class A Common Stock, $0.0001 par value – 600,000,000 shares authorized at December 31, 2025 and December 31, 2024; 41,796,921 and 35,871,574 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively; Class B Common Stock, $0.0001 par value – Nil and 200,000,000 shares authorized at December 31, 2025 and December 31, 2024, respectively; Nil and 3,913,149 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively 4 4
Additional paid-in capital 643,226 639,960
Accumulated deficit (660,229) (648,513)
Total stockholders’ deficit (16,999) (8,549)
Total liabilities, redeemable convertible preferred stock and stockholders’ deficit $ 53,094 $ 65,010