v3.26.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 28,890 $ 32,363
Investment securities, available-for-sale 42,471
Restricted cash, current 264 497
Accounts receivable, net of allowances 1,404 47
Inventory 4,403 745
Other current assets 2,887 4,989
Total current assets 37,848 81,112
Property and equipment, net 15,736 4,280
Operating lease right-of-use assets 16,840 14,075
Restricted cash, net of current portion 1,182 1,204
Intangible assets, net 13,358 32
Goodwill 3,677
Other assets 2,188 2,416
Total assets 90,829 103,119
Current liabilities    
Accounts payable 6,356 1,628
Accrued liabilities 5,664 5,426
Deferred revenue 132
Derivative liability 6,331
Notes payable 22,595 19,212
Operating lease liabilities, current 5,243 3,481
Finance lease liabilities, current 12 14
Other current liabilities 805 388
Total current liabilities 47,138 30,149
Warrant liability 4,928 1,875
Operating lease liabilities, net of current portion 14,682 14,034
Finance lease liabilities, net of current portion 14 27
Other long-term liabilities 1,321 1,486
Total liabilities 68,083 47,571
Commitments and contingencies (Note 12)
Shareholders’ equity (Note 2)    
Preferred stock, par value $0.001; 25,000 shares authorized; zero and zero shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively
Common stock, par value $0.001; 150,000 shares authorized; 32,430 and 20,434 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively 33 20
Additional paid-in capital 1,053,830 1,012,121
Accumulated other comprehensive income 610 669
Accumulated deficit (1,031,727) (957,262)
Total shareholders’ equity 22,746 55,548
Total liabilities and shareholders’ equity $ 90,829 $ 103,119

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