v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (5,046) $ (9,371)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,058 1,822
Depreciation and amortization 761 943
Loss on termination of lease 166 0
Write-down of property, plant and equipment 77 0
Non-cash operating lease expense 619 1,286
Gain on disposal of property, plant and equipment (355) 0
Other non-cash items (22) 275
Changes in operating assets and liabilities:    
Accounts receivable, net (11,489) (5,092)
Inventories (1,511) 2,571
Prepaid expenses and other current assets (2,621) (1,653)
Other assets 13 10
Accounts payable 1,649 (1,697)
Accrued and other current liabilities (898) (2,512)
Deferred revenue (82) 140
Operating lease liabilities (20,594) (848)
Net cash used in operating activities (37,275) (14,126)
Cash flows from investing activities:    
Purchase of property, plant and equipment (980) (913)
Proceeds from the disposal of property, plant and equipment 355 0
Net cash used in investing activities (625) (913)
Cash flows from financing activities:    
Proceeds from exercise of warrants 1,895 0
Proceeds from exercise of stock options 6,686 48
Net cash provided by financing activities 8,581 8,505
Net decrease in cash, cash equivalents and restricted cash equivalents (29,319) (6,534)
Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents 6 (4)
Cash, cash equivalents and restricted cash equivalents, beginning of period 91,921 56,411
Cash, cash equivalents and restricted cash equivalents, end of period 62,608 49,873
Reconciliation of cash, cash equivalents and restricted cash equivalents shown on the condensed consolidated balance sheets:    
Cash and cash equivalents 62,352 48,417
Restricted cash equivalents included in prepaid expenses and other current assets 200 200
Restricted cash equivalents included in other assets 56 1,256
Total cash, cash equivalents and restricted cash equivalents 62,608 49,873
Supplemental non-cash investing and financing activities:    
Unpaid purchases of property, plant and equipment 1,247 546
Right-of-use asset and operating lease obligations from new lease 105 0
Right-of-use assets derecognized in connection with lease termination 13,362 0
At Market Issuance Sales Agreement    
Cash flows from financing activities:    
Proceeds from issuance of common stock in connection with the At Market Issuance Sales Agreement, net $ 0 $ 8,457

Source

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