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, 2025
Mar. 31, 2024
Income Statement [Abstract]    
Sales $ 11,605 $ 8,383
Cost of goods sold [1],[2] 10,144 7,597
Gross profit 1,461 786
Operating expenses:    
Research and development [1],[2] 6,977 3,487
Sales and marketing [1],[2] 2,114 1,782
General and administrative [1],[2] 8,104 5,816
Total operating expenses 17,195 11,085
Loss from operations (15,734) (10,299)
Other income (expense):    
Change in fair value of warrant liability (3,510) (4,180)
Interest expense, net (18,838) (9,608)
Other income 407 37
Net loss (37,675) (24,050)
Less: Deemed dividend to preferred stockholders 403 0
Net loss attributable to common stockholders $ (38,078) $ (24,050)
Net loss applicable to common stockholders per basic common share:    
Basic (in dollars per share) $ (4.32) $ (2.89)
Diluted (in dollars per share) $ (4.32) $ (2.89)
Weighted average common shares outstanding:    
Basic (in shares) 8,808,594 8,325,944
Diluted (in shares) 8,808,594 8,325,944
[1] Amounts include depreciation and amortization as follows:
  Three Months Ended March 31,
  2025 2024
Cost of goods sold
 $ 1,913  $ 1,203 
Research and development
 2,686  797 
Sales and marketing —  — 
General and administrative
 1,281  1,228 
Total depreciation and amortization $ 5,880  $ 3,228 
[2] Amounts include stock-based compensation as follows:
  Three Months Ended March 31,
  2025 2024
Cost of goods sold
 $ 11  $ 21 
Research and development
 16  93 
Sales and marketing 37  (200)
General and administrative
 526  (848)
Total stock-based compensation expense, net of amounts capitalized $ 590  $ (934)