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

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 20,104 $ 23,140
Accounts receivable, net 4,713 3,211
Inventory, net 6,863 7,911
Prepaid expenses and other current assets 1,683 1,910
Total current assets 33,363 36,172
Property and equipment, net 2,005 1,389
Operating lease rights of use 3,086 3,564
Software license inventory 103 386
Licensing rights 484 1,041
Other assets 148 109
Total assets 39,189 42,661
Current liabilities:    
Accounts payable 1,340 393
Accrued compensation 4,885 2,947
Other accrued liabilities 1,450 1,053
Operating lease liabilities, current portion 557 424
Deferred product and service revenue, current portion 2,121 2,613
Total current liabilities 10,353 7,430
Operating lease liabilities, net of current portion 3,011 3,568
Deferred product and service revenue, net of current portion 436 541
2020 senior secured convertible note payable, net 0 9,949
Total liabilities 13,800 21,488
Commitments and contingencies (Note 8)
Stockholders' equity:    
Preferred stock, $0.01 par value; 25,000,000 shares authorized at December 31, 2024 and 2023; none issued and outstanding at December 31, 2024 and 2023 0 0
Common stock, $0.01 par value; 90,000,000 shares authorized at December 31, 2024 and 2023; 27,617,415 and 24,652,729 shares issued and outstanding at December 31, 2024 and 2023, respectively 276 247
Additional paid-in capital 216,483 193,382
Accumulated deficit (191,370) (172,456)
Total stockholders’ equity 25,389 21,173
Total liabilities and stockholders’ equity $ 39,189 $ 42,661