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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flow from operating activities:    
Net loss $ (67,354) $ (44,599)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation and amortization 5,492 6,046
Non cash lease expense 87 125
Amortization of licensing obligation (51)
Provision for credit losses (151) 222
Change in fair value of warrant liabilities 5,298 1,156
Reduction in inventory reserve for obsolescence (40) (50)
Loss on issuance of common stock to Yorkville in connection with the Side Letter 382
Loss on issuance of common stock in connection with the settlement of debt 72
Issuance of warrants for services 788
Loss on issuance of convertible note with warrants 2,335
Gain on forgiveness of interest (991)
Stock-based compensation expense 7,126 8,628
Issuance of common stock to Palantir as consideration for settlement agreement 175
Issuance of common stock relating to Yorkville for debt extension and SEPA commitment fee 317
Issuance of common stock as compensation expense for consulting services 108
Loss on extinguishment of debt 6,356 3,908
Change in fair value of debt 1,911 694
Non cash interest expense 4,749 3,217
Other, net (285)
Changes in assets and liabilities:    
Accounts receivable 7,003 1,054
Inventory 8,521 5,653
Prepaid expenses and other assets (301) 109
Accounts payable 1,291 1,312
Accrued expenses and other liabilities 9,757 7,237
Accrued R&D software (3,500)
Lease liabilities - operating 258 274
Deferred revenue (797) 312
Net cash used in operating activities (8,151) (7,995)
Cash flow from investing activities:    
Capital expenditures (70)
Proceeds from Sanuwave convertible note receivable 2,175
Net cash provided by investing activities 2,105
Cash flow from financing activities:    
Proceeds from warrants and short-term debt - related parties 15,000
Proceeds from issuance of short-term debt - unaffiliated 2,993
Repayments of short-term debt – unaffiliated (17,374)
Payment of SEPA commitment fee (25)
Proceeds from sale of common stock in private placement 1,035
Proceeds from sale of common stock and warrants in private placement 2,000
Proceeds from related party note 6,812
Proceeds from exercise of stock options 108
Proceeds from merchant cash advance 2,286
Repayment from merchant cash advance (1,069)
Proceeds received from exercise of warrants pursuant to Dragasac inducement agreement 2,460
Repayment of short-term debt – related party (113) (106)
Proceeds from PIPE Offering, net of offering costs 6,000
Tax withholding on vesting of restricted stock units (190) (430)
Repayment of related party notes (5,900)
Net cash provided by financing activities 7,429 6,058
Net (decrease) increase in cash, cash equivalents and restricted cash (722) 168
Cash, cash equivalents and restricted cash at beginning of period 10,977 10,163
Cash, cash equivalents and restricted cash at end of period 10,255 10,331
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,771 144
Supplemental non-cash investing and financing activities:    
License obligation arising from exchange of IP assets for debt 35,723
Issuance of common stock in connection with settlement of debt 3,470
Equity securities received for product purchase credits 2,890
Property and equipment included in accounts payable and accrued expenses (56)
Reclassification of warrants from liability classified to equity classified 10,743 2,970
Deemed dividend relating to inducement of Dragasac warrants 64
Change in fair value of contingent consideration 650
Modification of C.V. Starr warrants in connection with forbearance 51
Issuance of RWI warrants in connection with forbearance 1,162
Issuance of common stock in connection with note payable conversion $ 922