v3.25.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 74,094 $ 54,486
Investment securities, available-for-sale 17,313 20,216
Restricted cash, current 76 261
Accounts receivable, net of allowances 104 926
Inventory 6,128 2,294
Other current assets 5,468 4,287
Total current assets 103,183 82,470
Property and equipment, net 6,739 7,061
Operating lease right-of-use assets 16,123 16,746
Restricted cash, net of current portion 1,621 1,500
Intangible assets, net 10,510 10,972
Other assets 2,441 2,412
Total assets 140,617 121,161
Current liabilities    
Accounts payable 1,564 1,132
Accrued liabilities 2,267 2,542
Contract liabilities 337 308
Derivative liability 2,915 14,581
Notes payable, current 32,271 24,248
Operating lease liabilities, current 3,462 2,682
Finance lease liabilities, current 13
Other current liabilities 458
Total current liabilities 42,829 45,951
Notes payable, net of current portion 8,754
Warrant liability 3,733
Operating lease liabilities, net of current portion 15,186 15,954
Finance lease liabilities, net of current portion 30
Other long-term liabilities 1,735 1,733
Total liabilities 63,513 72,392
Commitments and contingencies (Note 11)
Shareholders’ equity    
Preferred stock, par value $0.001; 25,000 shares authorized; zero and zero shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively
Common stock, par value $0.001; 510,000 shares authorized; 278,018 and 224,993 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 278 225
Additional paid-in capital 981,597 910,825
Accumulated other comprehensive income 518
Accumulated deficit (905,289) (862,281)
Total shareholders’ equity 77,104 48,769
Total liabilities and shareholders’ equity $ 140,617 $ 121,161

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