v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 46,120 $ 32,363
Investment securities, available-for-sale 42,471
Restricted cash, current 485 497
Accounts receivable, net of allowances 732 47
Inventory 4,028 745
Other current assets 2,858 4,989
Total current assets 54,223 81,112
Property and equipment, net 17,300 4,280
Operating lease right-of-use assets 17,929 14,075
Restricted cash, net of current portion 1,189 1,204
Intangible assets, net 13,662 32
Goodwill 3,677
Other assets 2,224 2,416
Total assets 110,204 103,119
Current liabilities    
Accounts payable 4,537 1,628
Accrued liabilities 7,542 5,426
Deferred revenue 411
Derivative liability 2,035
Notes payable 32,141 19,212
Operating lease liabilities, current 4,985 3,481
Finance lease liabilities, current 13 14
Other current liabilities 99 388
Total current liabilities 51,763 30,149
Warrant liability 1,271 1,875
Operating lease liabilities, net of current portion 16,259 14,034
Finance lease liabilities, net of current portion 21 27
Other long-term liabilities 1,347 1,486
Total liabilities 70,661 47,571
Commitments and contingencies (Note 12)  
Shareholders’ equity    
Preferred stock, par value $0.001; 25,000 shares authorized; zero and zero shares issued and outstanding
Common stock, par value $0.001; 510,000 shares authorized; 322,110 and 306,509 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 322 306
Additional paid-in capital 1,021,218 1,011,835
Accumulated other comprehensive income 559 669
Accumulated deficit (982,556) (957,262)
Total shareholders’ equity 39,543 55,548
Total liabilities and shareholders’ equity $ 110,204 $ 103,119

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