Quarterly report [Sections 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, 2026
Mar. 31, 2025
Income Statement [Abstract]    
Sales $ 13,337 $ 11,605
Cost of goods sold [1],[2] 11,803 10,144
Gross profit 1,534 1,461
Operating expenses:    
Research and development [1],[2] 5,715 6,977
Sales and marketing [2] 2,244 2,114
General and administrative [1],[2] 7,509 8,104
Total operating expenses 15,468 17,195
Loss from operations (13,934) (15,734)
Other income (expense):    
Change in fair value of warrant liabilities 5,243 (3,510)
Interest expense, net (4,034) (18,838)
Other income, net 7 407
Net loss (12,718) (37,675)
Less: Deemed dividend to preferred stockholders 0 403
Net loss attributable to common stockholders $ (12,718) $ (38,078)
Net loss applicable to common stockholders per common share:    
Basic (in dollars per share) $ (0.53) $ (4.32)
Diluted (in dollars per share) $ (0.53) $ (4.32)
Weighted average common shares outstanding:    
Basic (in shares) 24,125,745 8,808,574
Diluted (in shares) 24,125,745 8,808,574
[1] Amounts include depreciation and amortization as follows:
 
Three Months Ended
March 31,
 
2026
2025
Cost of goods sold
$
2,266 
$
1,913 
Research and development
2,358 
2,686 
General and administrative
1,005 
1,281 
Total depreciation and amortization
$
5,629 
$
5,880 
[2] Amounts include stock-based compensation as follows:
 
Three Months Ended
March 31,
 
2026
2025
Cost of goods sold
$
21 
$
11 
Research and development
28 
16 
Sales and marketing
43 
37 
General and administrative
901 
526 
Total stock-based compensation expense, net of amounts capitalized
$
993 
$
590