Other Balance Sheet Information

12 Months Ended

Dec. 31, 2024

Other Balance Sheet Information [Abstract]

Other Balance Sheet Information

Note 8 - Other Balance Sheet Information

Prepaid expenses and other current assets

Prepaid expenses and other current assets as of December 31, 2024 and 2023 consisted of the following (in thousands):

	As of December 31,
	2024		2023
AVX deposit - related party	$	464	$	—
Prepaid insurance		293		13
Prepaid software		89		90
Deposits		88		22
Other		84		—
Total prepaid expenses and other current assets	$	1,018	$	125

Inventories

The Company did not hold any inventory as of December 31, 2023. Inventory as of December 31, 2024 consisted of the following (in thousands):

	As of December 31, 2024
Raw materials	$	198
Work-in-process		116
Finished goods		1,900
Inventories	$	2,214

Inventories are primarily accounted for using the first-in, first-out method, and are valued at the lower of cost and net realizable value. This valuation requires us to make judgments, based on currently available information, about the likely method of disposition, such as through sales to individual customers, returns to product vendors, or liquidations, and expected recoverable values of each disposition category. The inventory valuation allowance, representing a write-down of inventory, was approximately $0.2 million as of December 31, 2024.

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities as of December 31, 2024 and 2023 consisted of the following (in thousands):

	As of December 31,
	2024		2023
Accrued transaction bonuses – Strategic Transaction Bonus Plan	$	4,266	$	—
Accrued transaction bonuses – related party		400		—
Accrued bonuses and commissions		1,163		305
Accrued compensation and benefits		446		649
Accrued other		428		173
Total accrued expenses and other current liabilities	$	6,703	$	1,127