Balance Sheet

v3.25.3

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 38,221	$ 20,104
Accounts receivable, net	4,000	4,713
Inventory, net	6,583	6,863
Prepaid expenses and other current assets	2,525	1,683
Total current assets	51,329	33,363
Property and equipment, net	2,114	2,005
Operating lease, right-of-use assets	5,955	3,086
Other assets	959	735
Total assets	60,357	39,189
Current liabilities:
Accounts payable	723	1,340
Accrued compensation	3,516	4,885
Other accrued liabilities	1,748	1,450
Operating lease liabilities, current portion	347	557
Contract liabilities, current portion	1,719	2,121
Total current liabilities	8,053	10,353
Operating lease liabilities, net of current portion	6,195	3,011
Contract liabilities, net of current portion	769	436
Long-term note payable, net	29,203	0
Other long-term liabilities	263	0
Total liabilities	44,483	13,800
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued and outstanding at September 30, 2025 and December 31, 2024	0	0
Common stock, $0.01 par value; 90,000,000 shares authorized at September 30, 2025 and December 31, 2024; 28,428,176 and 27,617,415 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively	284	276
Additional paid-in capital	224,714	216,483
Accumulated deficit	(209,124)	(191,370)
Total stockholders’ equity	15,874	25,389
Total liabilities and stockholders’ equity	$ 60,357	$ 39,189

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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