Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]    
Sales $ 38,138 $ 27,557
Cost of goods sold [1],[2] 34,048 25,341
Gross profit 4,090 2,216
Operating expenses:    
Research and development [1],[2] 22,287 16,086
Selling, general and administrative [1],[2] 40,771 64,559
Goodwill impairment 0 38,481
Total operating expenses 63,058 119,126
Loss from operations (58,968) (116,910)
Other income (expense):    
Change in fair value of warrant liability 811 18,483
Interest expense, net (58,923) (25,745)
Other (expense) income, net (2,822) 157
Net loss $ (119,902) $ (124,015)
Net loss applicable to common stockholders per common share:    
Basic (in dollars per share) $ (14.14) $ (15.61)
Diluted (in dollars per share) $ (14.14) $ (15.61)
Weighted average common shares outstanding:    
Basic (in shares) 8,480,247 7,943,874
Diluted (in shares) 8,480,247 7,943,874
[1] Amounts include depreciation and amortization as follows:
  Year Ended December 31,
  2024 2023
Cost of goods sold
 $ 6,137  $ 3,513 
Research and development
 7,631  2,505 
Selling, general and administrative
 5,103  7,114 
Total depreciation and amortization $ 18,871  $ 13,132 
[2] Amounts include stock-based compensation as follows:
  Year Ended December 31,
  2024 2023
Cost of goods sold
 $ 73  $ 123 
Research and development
 274  1,464 
Selling, general and administrative
 3,001  14,687 
Total stock-based compensation expense, net of amounts capitalized $ 3,348  $ 16,274