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CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net Income (Loss) $ (28,656) $ (12,449)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 303 287
Provision for expected credit losses 0 17
Stock-based compensation expense 2,804 1,357
Provision for excess and obsolete inventory 82 (23)
Provision for net realizable value of inventory 129  
Change in fair value of warrant liabilities 12,450 4,139
Accretion of discount on short-term investments (916) (875)
Amortization of operating lease right-of-use asset 301 276
Loss on disposal of property and equipment   8
Changes in operating assets and liabilities:    
Accounts receivable 2,936 (1,918)
Inventories (2,621) (2,407)
Prepaid expenses and other current assets (1,620) (1,061)
Other long-term assets 4 1
Accounts payable (97) 410
Accrued expenses and other current liabilities (5,273) (231)
Operating lease liability (281) (224)
Deferred revenue 480 549
Net cash used in operating activities (19,975) (12,144)
Cash flows from investing activities:    
Purchases of short-term investments (142,935)  
Purchases of long-term investments (63,854)  
Proceeds from maturities and redemptions of short-term investments 28,000 8,000
Proceeds on disposal of property and equipment   50
Purchases of property and equipment (333) (406)
Net cash (used in) provided by investing activities (179,122) 7,644
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net of underwriting discounts, commissions and issuance costs 195,430  
Proceeds from the issuance of common stock from private placement, net of issuance costs 15,591  
Proceeds from stock option exercises 98 6
Net cash provided by financing activities 211,119 6
Net increase (decrease) in cash, cash equivalents and restricted cash 12,022 (4,494)
Cash, cash equivalents and restricted cash at beginning of period 30,532 26,666
Cash, cash equivalents and restricted cash at end of period 42,554 22,172
Supplemental disclosure of non-cash investing and financing information:    
Purchases of property and equipment included in accounts payable 699 5
Purchases of property and equipment in accrued expenses and other current liabilities 10  
Unrealized gain (loss) on short-term investments 25 (132)
Unrealized gain on long-term investments 150  
Conversion of convertible preferred stock upon IPO 321,373  
Conversion of warrants net exercise upon IPO 57,348  
Reclassification of deferred offering costs to equity upon IPO 5,051  
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 42,454 22,072
Restricted cash 100 100
Total cash, cash equivalents and restricted cash shown in the statement of cash flows $ 42,554 $ 22,172