XML 20 R5.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net loss $ (23,480) $ (10,326)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,741 795
Non-cash operating lease expense 305 188
Depreciation and amortization 36 36
Gain on disposal of property and equipment (48) 0
Amortization of costs to obtain a contract with a customer 0 16
Loss on assignment of finance lease 158 0
Amortization of finance lease right-of-use asset 13 20
Non-cash interest expense 7 16
Reversal of indirect tax liabilities (5,510) 0
Changes in assets and liabilities:    
Accounts receivable 0 8,965
Inventory 0 (1,172)
Prepaid expenses, other current assets, and other assets 186 (273)
Accounts payable and accrued liabilities 7,775 (4,851)
Accrued indirect tax liabilities 192 2,578
Accrued compensation and benefits (2,996) 689
Contract liabilities 0 (3,128)
Operating lease liabilities (329) (197)
Net cash used in operating activities (21,950) (6,644)
Investing activities:    
Purchases of property and equipment 0 (23)
Proceeds from sales of property and equipment 185 0
Net cash provided by (used in) investing activities 185 (23)
Financing activities:    
Proceeds from exercise of stock options 127 0
Issuance costs for private placement 0 (4)
Payment of finance lease liabilities (50) (50)
Payment for shares withheld to fund payroll taxes 0 (39)
Net cash provided by (used in) financing activities 77 (93)
Net decrease in cash, cash equivalents and restricted cash (21,688) (6,760)
Cash, cash equivalents and restricted cash at beginning of period 196,177 35,778
Cash, cash equivalents and restricted cash at end of period 174,489 29,018
Non-cash financing activities:    
Issuance costs incurred but not yet paid, included in accounts payable and accrued liabilities $ 0 $ 105