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Changes in Stockholders' Equity

9 Months Ended

Sep. 30, 2025

Changes in Stockholders' Equity

Changes in Stockholders' Equity

(3) Changes in Stockholders’ Equity

Three and Nine Months Ended September 30, 2025 and 2024 (in thousands):


											Accumulated
								Additional			Other						Total
		Common Stock						Paid-In			Comprehensive			Accumulated			Stockholders’
		Shares		Amount				Capital			Income			Deficit			Equity
Balance, June 30, 2025		323,762		$	32		$	1,104,880		$	133		$	(551,782)		$	553,263
Issuance of common stock upon exercise of stock options		399			1			365			—			—			366
Issuance of common stock upon exercise of common stock warrants		227			—			3,876			—			—			3,876
Issuance of common stock upon release of restricted stock units ("RSUs")		920			—			—			—			—			—
Vesting of Sponsor Redemption-Based Vesting Shares		—			—			10,433			—			—			10,433
Stock-based compensation		—			—			4,299			—			—			4,299
Foreign currency translation loss		—			—			—			(73)			—			(73)
Change in unrealized gain on available-for-sale securities		—			—			—			630			—			630
Net loss		—			—			—			—			(200,968)			(200,968)
Balance, September 30, 2025		325,308		$	33		$	1,123,853		$	690		$	(752,750)		$	371,826


										Accumulated
							Additional			Other						Total
		Common Stock					Paid-In			Comprehensive			Accumulated			Stockholders’
		Shares		Amount			Capital			Income			Deficit			Equity
Balance, December 31, 2024		283,547		$	29		$	681,202		$	105		$	(554,747)		$	126,589
Issuance of common stock upon exercise of stock options		1,994			1			1,808			—			—			1,809
Issuance of common stock upon exercise of common stock warrants		283			—			4,609			—			—			4,609
Issuance of common stock upon release of RSUs		6,154			—			—			—			—			—
Proceeds from sale of common stock from Quanta private placement transaction		3,020			—			35,000			—			—			35,000
Proceeds from sale of common stock through At-The-Market ("ATM") Offering		30,310			3			346,716			—			—			346,719
Vesting of Promote Sponsor Vesting Shares		—			—			32,946			—			—			32,946
Vesting of Sponsor Redemption-Based Vesting Shares		—			—			10,433			—			—			10,433
Capitalization of offering costs to equity upon share issuance		—			—			(888)			—			—			(888)
Stock-based compensation		—			—			12,027			—			—			12,027
Foreign currency translation loss		—			—			—			(102)			—			(102)
Change in unrealized gain on available-for-sale securities		—			—			—			687			—			687
Net loss		—			—			—			—			(198,003)			(198,003)
Balance, September 30, 2025		325,308		$	33		$	1,123,853		$	690		$	(752,750)		$	371,826


										Accumulated
							Additional			Other						Total
		Common Stock					Paid-In			Comprehensive			Accumulated			Stockholders’
		Shares		Amount			Capital			Income			Deficit			Equity
Balance, June 30, 2024		179,597		$	17		$	508,971		$	123		$	(386,953)		$	122,158
Issuance of common stock upon exercise of stock options		57			—			15			—			—			15
Issuance of common stock upon release of RSUs		1,010			—			—			—			—			—
Proceeds from sale of common stock through ATM Offering		11,294			2			11,996			—			—			11,998
Capitalization of deferred offering costs to equity upon share issuance		—			—			(58)			—			—			(58)
Stock-based compensation		—			—			3,427			—			—			3,427
Foreign currency translation loss		—			—			—			61			—			61
Change in unrealized loss on available-for-sale securities		—			—			—			70			—			70
Net loss		—			—			—			—			(14,833)			(14,833)
Balance, September 30, 2024		191,958		$	19		$	524,351		$	254		$	(401,786)		$	122,838


										Accumulated
							Additional			Other						Total
		Common Stock					Paid-In			Comprehensive			Accumulated			Stockholders’
		Shares		Amount			Capital			Income			Deficit			Equity
Balance, December 31, 2023		147,066		$	14		$	463,089		$	244		$	(353,759)		$	109,588
Issuance of common stock upon exercise of stock options		307			—			83			—			—			83
Issuance of common stock upon release of RSUs		3,810			—			—			—			—			—
Proceeds from sale of common stock through Purchase Agreement - B. Riley		10,057			1			12,837			—			—			12,838
Proceeds from sale of common stock through ATM Offering		30,718			4			38,827			—			—			38,831
Capitalization of deferred offering costs to equity upon share issuance		—			—			(190)			—			—			(190)
Stock-based compensation		—			—			9,705			—			—			9,705
Foreign currency translation loss		—			—			—			(44)			—			(44)
Change in unrealized loss on available-for-sale securities		—			—			—			54			—			54
Net loss		—			—			—			—			(48,027)			(48,027)
Balance, September 30, 2024		191,958		$	19		$	524,351		$	254		$	(401,786)		$	122,838