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
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (134,075) $ (77,111)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,817 1,437
Loss on note 1,159
Loss on extinguishment of debt 2,092
Bad debt 31
Issuance costs of derivative instruments 1,837
Inventory write-off 1,318
Amortization of debt discount 65
Stock-based compensation 6,519 4,228
Changes in operating assets and liabilities:    
Other non-current assets (2,169)
Accounts receivable (8,328) 170
Inventory, current and non-current 62 1,362
Prepaid expenses and other current assets (1,311) (2,159)
Accounts payable 9,581 3,732
Lease liabilities and ROU asset, net 241 (18)
Accrued expenses and other current liabilities 2,028 1,663
Net cash used in operating activities (125,635) (60,194)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Issuance of note (2,012)
Purchase of property and equipment (2,882) (1,495)
Net cash used in investing activities (2,882) (3,507)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase of common stock (5,949)
Proceeds from exercise of options 52
Proceeds from ESPP 227
Payment of term loan (9,650)
Proceeds, net of $2,621 and $5,750 expenses, from sale of common stock and warrants 81,714 170,986
Net cash provided by financing activities 81,993 155,387
Effect of currency rate change on cash (102) (17)
Net (decrease) increase in cash, cash equivalents and restricted cash (46,626) 91,669
Cash, cash equivalents and restricted cash beginning of the period 209,807 99,680
Cash, cash equivalents and restricted cash end of period 163,181 191,349
Supplemental disclosures of cash flow information:    
Interest expense paid 89
Non-cash financing and investing activities:    
Issuance costs from derivative instruments 1,837
Purchases of property and equipment included in accounts payable and accrued liabilities $ 232 $ 263