Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Statement [Abstract]    
Sales $ 8,383 $ 6,698
Cost of goods sold [1],[2] 7,597 6,419
Gross profit 786 279
Operating expenses:    
Research and development [1],[2] 3,487 3,576
Selling, general and administrative [1],[2] 7,598 15,981
Total operating expenses 11,085 19,557
Loss from operations (10,299) (19,278)
Other income (expense):    
Change in fair value of warrant liability (4,180) 0
Interest expense, net (9,608) (4,299)
Other income 37 50
Net loss $ (24,050) $ (23,527)
Net loss applicable to common stockholders per basic common share:    
Basic (in dollars per share) $ (2.89) $ (3.04)
Diluted (in dollars per share) $ (2.89) $ (3.04)
Weighted average common shares outstanding:    
Basic (in shares) 8,325,944 7,727,866
Diluted (in shares) 8,325,944 7,727,866
[1] Amounts include depreciation and amortization as follows:
  Three Months Ended March 31,
  2024 2023
Cost of goods sold
 $ 1,203  $ 936 
Research and development
 797  566 
Selling, general and administrative
 1,228  1,956 
Total depreciation and amortization $ 3,228  $ 3,458 
[2] Amounts include stock-based compensation as follows:
  Three Months Ended March 31,
  2024 2023
Cost of goods sold
 $ 21  $ 87 
Research and development
 93  738 
Selling, general and administrative
 (1,048) 5,134 
Total stock-based compensation expense, net of amounts capitalized $ (934) $ 5,959