General form for registration of securities under the Securities Act of 1933

Condensed Consolidated Balance Sheets

v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Dec. 31, 2023
Current assets:      
Cash and cash equivalents $ 854 $ 1,212 $ 24,494
Short-term investments   6,621
Accounts receivable, net 5,394 3,723 9,583
Inventories, net 38,417 49,953 60,816
Contract assets 1,448 500 7,510
Prepaid expenses and other current assets 2,783 2,336 4,000
Total current assets 48,896 57,724 113,024
Property and equipment, net 15,201 14,270 16,326
Equipment subject to operating lease, net 3,020 3,673 6,667
Other assets 11,441 13,513 17,782
Total assets 78,558 89,180 153,799
Current liabilities:      
Accounts payable 14,853 18,538 15,854
Accrued expenses and other current liabilities 4,263 3,511 6,491
Debt – current portion 16,913 5,666 21,191
Contract liabilities 6,712 10,285 5,135
Total current liabilities 42,741 38,000 48,671
Long-term debt – less current portion 5,562 11,941
Contingent earnout liabilities 11 11 1,456
Warrant liabilities 13 2,167 11,835
Other noncurrent liabilities 8,696 9,338 11,556
Total liabilities 57,023 49,516 85,459
Commitments and contingencies (Note 13)  
Stockholders’ equity:      
Common stock, $0.00001 par value - 500,000,000 shares authorized at June 30, 2025 and December 31, 2024, respectively, 14,067,416 and 12,993,962 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 4 4 2
Additional paid-in capital 491,032 469,994 425,471
Accumulated other comprehensive loss (96)
Accumulated deficit (469,501) (430,334) (357,037)
Total stockholders’ equity 21,535 39,664 68,340
Total liabilities and stockholders’ equity $ 78,558 $ 89,180 $ 153,799