Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)

v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 185,470 $ 207,637
Accounts receivable, net 8,820 6,271
Inventory 3,645 6,013
Prepaid expenses and other current assets 9,233 8,955
Total current assets 207,168 228,876
Property and equipment, net 44,894 44,456
Intangible assets, net 120 120
Operating lease right-to-use assets 1,445 1,544
Other non-current assets 4,285 2,175
Total assets 257,912 277,171
Current liabilities:    
Accounts payable 9,649 8,114
Accrued expenses and other current liabilities 19,836 22,598
Lease liability, short term 162 125
Total current liabilities 29,647 30,837
Lease liability, long term 1,128 1,184
Total liabilities 30,775 32,021
Stockholders’ equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized, 0 shares issued and outstanding - as of both March 31, 2026 and December 31, 2025
Common stock, $0.001 par value; 1,000,000,000 shares authorized; 14,205,401 and 12,788,069 shares issued and outstanding as of March 31, 2026, and December 31, 2025, respectively and 5,883 shares to be issued as of December 31, 2025 14 13
Additional paid in capital 1,122,315 1,100,141
Accumulated deficit (894,909) (854,715)
Accumulated other comprehensive loss (283) (289)
Total stockholders’ equity 227,137 245,150
Total liabilities and stockholders’ equity $ 257,912 $ 277,171