Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (80,746) $ (45,101)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,174 976
Inventory write-off 2,280
Amortization of debt discount 65
Loss on extinguishment of debt 2,092
Stock-based compensation 4,226 2,305
Issuance costs from derivative instruments 1,837
Changes in operating assets and liabilities:    
Accounts receivable (5,534) 1,363
Inventory, current and non-current (534) 142
Prepaid expenses and other current assets (1,763) (483)
Other non-current assets (2,169)
Accounts payable 937 2,711
Lease liabilities and right-of-use (ROU) asset, net 160 (12)
Accrued expenses and other current liabilities (312) 413
Net cash used in operating activities (84,561) (31,412)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Issuance of note (2,012)
Purchase of property and equipment (2,279) (533)
Net cash used in investing activities (2,279) (2,545)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase of common stock (5,949)
Proceeds from ESPP 79
Proceeds from the exercise of options 16
Payment of term loan (9,650)
Proceeds, net of $1,725 and $2,757 expenses, from sale of common stock 53,615 76,125
Net cash provided by financing activities 53,710 60,526
Effect of currency rate change on cash (58) (13)
Net (decrease) increase in cash, cash equivalents and restricted cash (33,188) 26,556
Cash, cash equivalents and restricted cash beginning of the period 209,807 99,680
Cash, cash equivalents and restricted cash end of period 176,619 126,236
Supplemental disclosures of cash flow information:    
    Interest paid 117
Non-cash financing and investing activities:    
Issuance costs from derivative instruments 1,837
Net ATM proceeds received after quarter-end 1,629
Purchases of property and equipment included in accounts payable and accrued liabilities $ 63 $ 526