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Condensed Balance Sheets (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 8,052 $ 11,350
Marketable securities, short-term 61,237 64,327
Accounts receivable, net of allowance for credit losses of $1,562 and $1,326 as of June 30, 2025 and December 31, 2024, respectively 30,333 40,803
Inventories 42,397 39,255
Prepaid expenses and other current assets 5,583 5,667
Total current assets 147,602 161,402
Property and equipment, net 29,708 25,953
Intangible assets, net of accumulated amortization of $1,900 and $1,425 as of June 30, 2025 and December 31, 2024, respectively 7,600 8,075
Goodwill 12,815 12,815
Operating lease right-of-use assets 8,042 8,442
Other non-current assets 676 407
Total assets 206,443 217,094
Current liabilities    
Accounts payable 19,959 10,522
Accrued liabilities 6,192 7,197
Accrued commissions 5,328 10,121
Accrued compensation 7,064 6,575
Other liabilities 3,357 510
Total current liabilities 41,900 34,925
Long-term debt, net 53,454 53,306
Operating lease liabilities, net of current portion 13,437 15,934
Other long-term liabilities 37 37
Total liabilities 108,828 104,202
Commitments and contingencies (Note 7)
Stockholders’ equity    
Preferred stock, $0.001 par value, 5,000,000 shares authorized as of June 30, 2025 and December 31, 2024; 0 shares issued as of June 30, 2025 and December 31, 2024 0 0
Common stock, $0.001 par value, 300,000,000 shares authorized; 63,120,204 and 62,385,101 shares issued as of June 30, 2025 and December 31, 2024, respectively 63 62
Additional paid-in capital 321,508 303,004
Accumulated deficit (223,310) (189,990)
Accumulated other comprehensive (loss) income 50 97
Treasury stock, at cost; 77,890 and 23,391 shares as of June 30, 2025 and December 31, 2024, respectively (696) (281)
Total stockholders’ equity 97,615 112,892
Total liabilities and stockholders’ equity $ 206,443 $ 217,094