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 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Sales $ 10,242 $ 6,810 $ 28,068 $ 20,691
Cost of goods sold [1],[2] 8,829 6,405 24,518 19,155
Gross profit 1,413 405 3,550 1,536
Operating expenses:        
Research and development [1],[2] 7,096 5,001 15,102 12,103
Selling, general and administrative [1],[2] 12,348 14,406 30,642 47,091
Total operating expenses 19,444 19,407 45,744 59,194
Loss from operations (18,031) (19,002) (42,194) (57,658)
Other income (expense):        
Change in fair value of warrant liability 1,921 1,766 (1,163) 16,917
Interest expense, net (18,312) (7,105) (40,420) (17,876)
Other income 95 83 133 156
Net loss $ (34,327) $ (24,258) $ (83,644) $ (58,461)
Net loss applicable to common stockholders per common share:        
Basic (in dollars per share) $ (4.01) $ (3.02) $ (9.91) $ (7.41)
Diluted (in dollars per share) $ (4.01) $ (3.02) $ (9.91) $ (7.41)
Weighted average common shares outstanding:        
Basic (in shares) 8,568,970 8,019,561 8,436,727 7,893,665
Diluted (in shares) 8,568,970 8,019,561 8,436,727 7,893,665
[1] Amounts include depreciation and amortization as follows:
Three Months Ended
September 30,		 Nine months ended
September 30,
2024 2023 2024 2023
Cost of goods sold
 $ 1,642  $ 832  $ 4,197  $ 2,662 
Research and development
 2,852  722  5,031  1,754 
Selling, general and administrative
 1,374  1,851  3,757  5,763 
Total depreciation and amortization $ 5,868  $ 3,405  $ 12,985  $ 10,179 
[2] Amounts include stock-based compensation as follows:
Three Months Ended
September 30,		 Nine months ended
September 30,
2024 2023 2024 2023
Cost of goods sold
 $ 15  $ 24  $ 75  $ 100 
Research and development
 86  343  250  1,676 
Selling, general and administrative
 1,286  2,898  1,776  11,882 
Total stock-based compensation expense, net of amounts capitalized $ 1,387  $ 3,265  $ 2,101  $ 13,658