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

Consolidated Balance Sheets

v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 45,923 $ 20,104
Accounts receivable, net 6,549 4,713
Inventory, net 8,359 6,863
Prepaid expenses and other current assets 2,769 1,683
Total current assets 63,600 33,363
Property and equipment, net 2,621 2,005
Operating lease, right-of-use assets 8,430 3,086
Goodwill 7,472 0
Intangible assets, net 13,922 0
Other assets 1,702 735
Total assets 97,747 39,189
Current liabilities:    
Accounts payable 1,256 1,340
Accrued compensation 4,360 4,885
Other accrued liabilities 2,786 1,450
Operating lease liabilities, current portion 694 557
Contract liabilities, current portion 1,669 2,121
Total current liabilities 10,765 10,353
Operating lease liabilities, net of current portion 8,461 3,011
Contract liabilities, net of current portion 581 436
Long-term notes payable, net 49,077 0
Deferred tax liabilities, net 354 0
Other long-term liabilities 489 0
Total liabilities 69,727 13,800
Commitments and contingencies (Note 10)
Stockholders' equity:    
Preferred stock, $0.01 par value; 25,000,000 shares authorized at December 31, 2025 and 2024; none issued and outstanding at December 31, 2025 and 2024 0 0
Common stock, $0.01 par value; 90,000,000 shares authorized at December 31, 2025 and 2024; 29,368,760 and 27,617,415 shares issued and outstanding at December 31, 2025 and 2024, respectively 294 276
Additional paid-in capital 238,995 216,483
Shares to be issued 5,641 0
Accumulated deficit (216,910) (191,370)
Total stockholders’ equity 28,020 25,389
Total liabilities and stockholders’ equity $ 97,747 $ 39,189