Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets (Unaudited)

v3.25.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 8,907 $ 19,627
Restricted cash, current 2,400 3,675
Inventory 19,984 19,351
Prepaid expenses and other current assets 3,224 2,288
Total current assets 34,515 44,941
Restricted cash, noncurrent 1,002 1,002
Property and equipment, net 3,779 3,677
Intangible assets, net 2,408 712
Operating lease right-of-use assets 10,956 12,532
Other long-term assets 1,987 2,146
Total assets 54,647 65,010
Current liabilities:    
Accounts payable 8,768 6,800
Accrued expenses 8,811 11,546
Deferred revenue 5,133 6,340
Debt, current 900 0
Operating lease liabilities, current 2,748 1,636
Other current liabilities 1,138 742
Total current liabilities 27,498 27,064
Debt, noncurrent 6,600 7,500
Operating lease liabilities, noncurrent 10,840 12,949
Derivative liabilities 1,085 1,274
Total liabilities 46,023 48,787
Commitments and contingencies (Note 7)
Redeemable convertible preferred stock, $0.0001 par value — 100,000,000 shares authorized as of September 30, 2025 and December 31, 2024; 25,000 shares issued and outstanding as of September 30, 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 September 30, 2025 and December 31, 2024; 41,387,655 and 35,871,574 Class A shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively; No shares and 200,000,000 Class B shares authorized as of September 30, 2025 and December 31, 2024, respectively; No shares and 3,913,149 Class B shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 4 4
Additional paid-in capital 642,494 639,960
Accumulated deficit (658,646) (648,513)
Total stockholders’ deficit (16,148) (8,549)
Total liabilities, redeemable convertible preferred stock and stockholders’ deficit $ 54,647 $ 65,010