XML 18 R7.htm IDEA: XBRL DOCUMENT v3.25.2
BALANCE SHEET COMPONENTS
 6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BALANCE SHEET COMPONENTS BALANCE SHEET COMPONENTS
Cash and Cash Equivalents
Highly liquid investments with maturities of three months or less as of the date of acquisition are classified as cash equivalents, of which we had $6.1 million and $1.3 million as of June 30, 2025 and December 31, 2024, respectively, included within cash and cash equivalents in the condensed balance sheets.
Accounts Receivable, Net
Accounts receivable, net consisted of the following (in thousands):
June 30,
2025		December 31,
2024
Accounts receivable$480 $339 
Allowance for uncollectible accounts(10)(4)
Accounts receivable, net$470 $335 
The following was the activity in the allowance for uncollectible accounts (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Balance as of beginning of period$4 $4 $4 $4 
Increase in provision6 2 6 2 
Amounts written off, less recoveries— (2)— (2)
Balance as of end of period$10 $4 $10 $4 
Inventory, net
Inventory, net consisted of the following (in thousands):
June 30,
2025		December 31,
2024
Raw materials$649 $719 
Work in progress1 1 
Finished goods61 74 
Total inventory711 794 
Less: reserve for obsolescence— — 
Inventory, net$711 $794 
The following was the activity in the reserve for obsolescence (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Balance as of beginning of period$— $5 $— $5 
Increase in reserve— — — — 
Amounts relieved— (5)— (5)
Balance as of end of period$— $— $— $— 
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following (in thousands):
June 30,
2025		December 31,
2024
Software licenses$69 $112 
Professional services51 18 
Inventory18 — 
Insurance39 27 
Equity offering costs24 146 
Rent12 38 
Marketing programs and conferences4 21 
Other21 15 
Total prepaid expenses and other current assets$238 $377 
Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):
June 30,
2025		December 31,
2024
Research and development equipment$1,897 $1,826 
Office and computer equipment494 494 
Autos54 54 
Furniture and fixtures46 46 
Leasehold improvements240 157 
Total in service2,731 2,577 
Accumulated depreciation and amortization(2,315)(2,242)
Total in service, net416 335 
Construction in progress— 72 
Property and equipment, net$416 $407 
Accrued Expenses
Accrued expenses consisted of the following (in thousands):
June 30,
2025		December 31,
2024
Compensation and related benefits$254 $244 
Legal and consulting professional services297 30 
Product warranty and other13 4 
Total accrued expenses$564 $278 
Notes Payable
We have financing arrangements related to the purchase of certain equipment. The notes payable for that certain equipment have a weighted average annual interest rate of 10.4% with original terms of five years and are secured by the underlying equipment.
As of June 30, 2025, future principal payments were as follows (in thousands):
2025$28 
202661 
202768 
202865 
202912 
Thereafter— 
Total principal payments234 
Less: current portion of notes payable(59)
Notes payable, less current portion$175