Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net loss $ (50,992) $ (51,611)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 2,492 3,944
Amortization of debt discount and deferred financing costs 3,700 7,283
Stock-based compensation 9,106 13,041
(Gain) loss on fair value of warrants 1,044 (31,910)
Gain on fair value of contingent earnout liabilities 0 (1,445)
Loss on warrant cancellation 11,357 0
Loss on debt extinguishment 0 7,525
Non-cash cost of issuance of common stock warrants on BEPO Offering 0 7,951
Provision for credit losses 37 6,756
Loss on sale/disposal of fixed assets 24 0
Realized loss on available for sale securities 0 23
Changes in operating assets and liabilities    
Accounts receivable (2,986) (7,386)
Inventories 11,333 1,704
Contract assets (2,938) 3,478
Prepaid expenses and other current assets 507 2,226
Other assets (5,890) 3,618
Accounts payable (1,762) 1,023
Accrued expenses and other liabilities 8,323 (1,133)
Contract liabilities (2,057) 6,367
Other noncurrent liabilities (888) (1,919)
Net cash used in operating activities (19,590) (30,465)
Cash flows from investing activities    
Purchase of property and equipment (2,112) (28)
Proceeds from the sale of available-for-sale securities 0 3,172
Proceeds from maturity of available-for-sale investments 0 3,500
Net cash provided by investing activities (2,112) 6,644
Cash flows from financing activities    
Proceeds from secured convertible notes 15,000 0
Gross proceeds from August 2025 Offering 20,125 0
Payments for issuance cost related to August 2025 Offering (2,303) 0
Gross proceeds from BEPO Offering 0 12,000
Payments for issuance cost related to the BEPO Offering 0 (1,300)
Gross proceeds from capital raise, August Warrant Inducement 0 1,693
Repayment of secured notes (499) (11,750)
Issuance of common stock upon exercise of stock options 0 315
Net cash provided by financing activities 32,323 958
Effect of exchange rate changes on cash and cash equivalents 4 6
Net change in cash and cash equivalents 10,625 (22,857)
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 12,465 2,437
Supplemental disclosure of cash flow information    
Cash paid for interest 850 1,181
Supplemental schedule of non-cash investing and financing activities    
Unpaid liabilities related to property and equipment 94 0
Transfer between inventory and property and equipment 1,645 0
Equipment for lease to customers returned to inventory 653 2,234
Cash and Cash Equivalents and Restricted Cash    
Cash and cash equivalents 11,842 1,637
Restricted cash (Other assets) 623 800
Total cash and cash equivalents and restricted cash $ 12,465 $ 2,437