Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 41,541 $ 20,104
Accounts receivable, net 4,260 4,713
Inventory, net 6,293 6,863
Prepaid expenses and other current assets 1,897 1,683
Total current assets 53,991 33,363
Property and equipment, net 2,019 2,005
Operating lease, right-of-use assets 6,139 3,086
Other assets 720 735
Total assets 62,869 39,189
Current liabilities:    
Accounts payable 1,531 1,340
Accrued compensation 2,949 4,885
Other accrued liabilities 1,210 1,450
Operating lease liabilities, current portion 331 557
Contract liabilities, current portion 1,377 2,121
Total current liabilities 7,398 10,353
Operating lease liabilities, net of current portion 6,280 3,011
Contract liabilities, net of current portion 603 436
Long-term note payable, net 28,845 0
Total liabilities 43,126 13,800
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued and outstanding at June 30, 2025 and December 31, 2024 0 0
Common stock, $0.01 par value; 90,000,000 shares authorized at June 30, 2025 and December 31, 2024; 28,423,611 and 27,617,415 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 284 276
Additional paid-in capital 222,692 216,483
Accumulated deficit (203,233) (191,370)
Total stockholders’ equity 19,743 25,389
Total liabilities and stockholders’ equity $ 62,869 $ 39,189