Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net loss $ (39,167) $ (28,486)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 1,725 2,707
Amortization of debt discount and deferred financing costs 2,559 8,281
Stock-based compensation 6,483 9,334
(Gain) loss on fair value of warrants 1,044 (22,690)
Gain on fair value of contingent earnout liabilities (1,387)
Loss on warrant cancellation 11,357
Non-cash cost of issuance of common stock warrants on BEPO Offering 1,313
Loss on sale/disposal of fixed assets 2,777
Realized loss on available for sale securities 21
Changes in operating assets and liabilities    
Accounts receivable (1,671) 1,245
Inventories 5,691 3,891
Contract assets (948) (1,351)
Prepaid expenses and other current assets (292) 1,871
Other assets 2,002 1,369
Accounts payable (912) (2,391)
Accrued expenses and other liabilities 2 (595)
Contract liabilities (3,573) (345)
Other noncurrent liabilities (642) (1,279)
Net cash used in operating activities (13,565) (28,492)
Cash flows from investing activities    
Purchase of property and equipment (1,799) (8)
Sales of available-for-sale investments 2,474
Proceeds from maturity of available-for-sale investments 3,500
Net cash (used in) provided by investing activities (1,799) 5,966
Cash flows from financing activities    
Proceeds from secured convertible notes 15,000
Proceeds from BEPO Offering, net of issuance costs 10,675
Repayment of secured notes (10,500)
Issuance of common stock upon exercise of stock options 315
Net cash provided by financing activities 15,000 490
Effect of exchange rate changes on cash and cash equivalents 6 4
Net change in cash and cash equivalents (358) (22,032)
Cash and cash equivalents and restricted cash at beginning of period 1,840 25,294
Cash and cash equivalents and restricted cash at end of period 1,482 3,262
Supplemental disclosure of cash flow information    
Cash paid for interest 750 762
Supplemental schedule of non-cash investing and financing activities    
Unpaid liabilities related to property and equipment 160 20
Transfer between inventory and property and equipment 3,404
Equipment for lease to customers returned to inventory 653 2,235
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation [Abstract]    
Cash and cash equivalents 854 2,462
Restricted cash (Other assets) 628 800
Total cash and cash equivalents and restricted cash $ 1,482 $ 3,262