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BALANCE SHEET COMPONENTS
 9 Months Ended
Sep. 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 90 days or less as of the date of acquisition are classified as cash equivalents, of which we had $7.3 million and $1.3 million as of September 30, 2025 and December 31, 2024, respectively, included within cash and cash equivalents in the condensed balance sheets. Cash equivalents as of September 30, 2025 include $5.0 million in United States Treasury securities (“U.S. Treasuries”) with maturities under 90 days.
Short-term Investments
As of September 30, 2025, we held investments totaling $3.0 million in U.S. Treasuries, which are classified as held-to-maturity and measured at amortized cost, which approximates fair value. We have both the intent and the ability to hold these securities to maturity. U.S. Treasuries with original maturities greater than 90 days and less than one year are presented as short-term investments on the balance sheet.
Accounts Receivable, Net
Accounts receivable, net consisted of the following (in thousands):
September 30,
2025		December 31,
2024
Accounts receivable$464 $339 
Allowance for uncollectible accounts(10)(4)
Accounts receivable, net$454 $335 
The following was the activity in the allowance for uncollectible accounts (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Balance as of beginning of period$10 $4 $4 $4 
Increase in provision— (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):
September 30,
2025		December 31,
2024
Raw materials$643 $719 
Work in progress5 1 
Finished goods119 74 
Total inventory767 794 
Less: reserve for obsolescence— — 
Inventory, net$767 $794 
The following was the activity in the reserve for obsolescence (in thousands):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Balance as of beginning of period$— $— $— $5 
Increase in reserve— — — — 
Amounts relieved— — — (5)
Balance as of end of period$— $— $— $— 
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following (in thousands):
September 30,
2025		December 31,
2024
Software licenses$78 $112 
Professional services58 18 
Inventory58 — 
Insurance47 27 
Equity offering costs34 146 
Rent12 38 
Marketing programs and conferences8 21 
Other18 15 
Total prepaid expenses and other current assets$313 $377 
Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):
September 30,
2025		December 31,
2024
Research and development equipment$1,908 $1,826 
Office and computer equipment494 494 
Autos54 54 
Furniture and fixtures46 46 
Leasehold improvements272 157 
Total in service2,774 2,577 
Accumulated depreciation and amortization(2,345)(2,242)
Total in service, net429 335 
Construction in progress— 72 
Property and equipment, net$429 $407 
Accrued Expenses
Accrued expenses consisted of the following (in thousands):
September 30,
2025		December 31,
2024
Compensation and related benefits$238 $244 
Legal and consulting professional services81 30 
Product warranty and other14 4 
Total accrued expenses$333 $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 September 30, 2025, future principal payments were as follows (in thousands):
2025$14 
202661 
202768 
202865 
202912 
Thereafter— 
Total principal payments220 
Less: current portion of notes payable(60)
Notes payable, less current portion$160