v3.25.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 72,832 $ 54,486
Investment securities, available-for-sale 26,676 20,216
Restricted cash, current 328 261
Accounts receivable, net of allowances 40 926
Inventory 8,131 2,294
Other current assets 6,969 4,287
Total current assets 114,976 82,470
Property and equipment, net 6,574 7,061
Operating lease right-of-use assets 15,365 16,746
Restricted cash, net of current portion 1,374 1,500
Intangible assets, net 10,281 10,972
Other assets 2,252 2,412
Total assets 150,822 121,161
Current liabilities    
Accounts payable 1,339 1,132
Accrued liabilities 3,754 2,542
Contract liabilities 147 308
Derivative liability 1,856 14,581
Notes payable, current 28,963 24,248
Operating lease liabilities, current 3,154 2,682
Finance lease liabilities, current 14
Other current liabilities 672 458
Total current liabilities 39,899 45,951
Notes payable, net of current portion 8,754
Warrant liability 4,059
Operating lease liabilities, net of current portion 14,434 15,954
Finance lease liabilities, net of current portion 31
Other long-term liabilities 1,680 1,733
Total liabilities 60,103 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 September 30, 2025 and December 31, 2024, respectively
Common stock, par value $0.001; 510,000 shares authorized; 302,358 and 224,993 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 302 225
Additional paid-in capital 1,009,272 910,825
Accumulated other comprehensive income 651
Accumulated deficit (919,506) (862,281)
Total shareholders’ equity 90,719 48,769
Total liabilities and shareholders’ equity $ 150,822 $ 121,161

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