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, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 7,160 $ 8,490
Restricted cash, current 2,265 2,300
Inventory 21,479 18,421
Prepaid expenses and other current assets 2,638 5,492
Total current assets 33,542 34,703
Restricted cash, noncurrent 1,002 1,002
Property and equipment, net 3,524 3,653
Intangible assets, net 2,198 2,302
Operating lease right-of-use assets 9,084 9,535
Other long-term assets 1,715 1,899
Total assets 51,065 53,094
Current liabilities:    
Accounts payable 8,685 8,828
Accrued expenses 8,000 9,476
Deferred revenue 5,857 5,033
Debt, current 0 800
Operating lease liabilities, current 3,049 2,895
Other current liabilities 603 665
Total current liabilities 26,194 27,697
Debt, noncurrent 7,500 6,700
Operating lease liabilities, noncurrent 9,225 10,053
Derivative liabilities 772 871
Total liabilities 43,691 45,321
Commitments and contingencies (Note 7)
Redeemable convertible preferred stock, $0.0001 par value — 100,000,000 shares authorized as of March 31, 2026 and December 31, 2025; 25,000 shares issued and outstanding as of March 31, 2026 and December 31, 2025 24,772 24,772
Stockholders’ deficit:    
Common stock, $0.0001 par value — 600,000,000 Class A shares authorized as of March 31, 2026 and December 31, 2025; 42,028,075 and 41,796,921 Class A shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 4 4
Additional paid-in capital 643,836 643,226
Accumulated deficit (661,238) (660,229)
Total stockholders’ deficit (17,398) (16,999)
Total liabilities, redeemable convertible preferred stock and stockholders’ deficit $ 51,065 $ 53,094