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Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating activities:    
Net Income (Loss) $ (65,373) $ (28,720)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 2,431 2,266
Stock-based compensation 6,980 7,053
Change in fair value of SAFEs (including related party amounts of $2,911 and $573, respectively) 3,597 707
Accretion of discounts and amortization of premiums on investments, net (2,342) (456)
Changes in operating assets and liabilities:    
Accounts receivable (including related party amounts of $569 and $(569), respectively) 1,034 (510)
Other receivables (including related party amounts of $607 and $(607), respectively) 578 (724)
Prepaid expenses and other current assets (1,965) 516
Other long-term assets 125 139
Accounts payable (including related party amounts of $76 and $51, respectively) 519 (408)
Accrued expenses (including related party amounts of $(1,447) and $(971), respectively) (659) (912)
Operating lease right-of-use asset and lease liabilities, net 43 145
Deferred revenue (26,526)
Net cash used in operating activities (55,032) (47,430)
Investing activities:    
Purchases of property and equipment (642) (3,258)
Purchases of short-term investments (176,171) (49,517)
Maturities of short-term investments 56,350 26,800
Net cash used in investing activities (120,463) (25,975)
Financing activities:    
Proceeds from issuance of common stock, net of commissions 166,507
Proceeds from issuance of simple agreements for future equity (including related party amounts of $0 and $19,742, respectively) 24,393
Proceeds from exercise of stock options 51 10
Payments on finance leases (149)
Cash paid in connection with IPO offering costs (4,183)
Repurchase of restricted stock (12)
Net cash provided by financing activities 162,226 24,391
Net decrease in cash, cash equivalents and restricted cash (13,269) (49,014)
Cash, cash equivalents and restricted cash at beginning of period 53,762 102,776
Cash, cash equivalents and restricted cash at end of period 40,493 53,762
Reconciliation of cash, cash equivalents and restricted cash to the balance sheet:    
Cash and cash equivalents 40,235 53,504
Restricted cash 258 258
Total cash, cash equivalents and restricted cash 40,493 53,762
Supplemental disclosures of cash flow information:    
Income taxes 0 83
Supplemental disclosures of noncash activities:    
Property and equipment purchases in accounts payable and accrued liabilities 57 18
Conversion of SAFE notes to common stock 28,697
Conversion of preferred stock to common stock 216,413
Non-cash additions to financing leases $ 241