XML 14 R4.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Revenue            
Total revenue $ 11,867 $ 781 $ 14,856 $ 1,553 $ 1,554 $ 3,856
Costs and expenses            
Cost of revenue 10,091 476 11,222 1,039 579 3,656
Gross profit 1,776 305 3,634 514    
Research and development 9,676 5,799 32,407 15,765 25,094 18,115
Selling, general and administrative 14,321 5,546 40,207 14,538 22,413 17,303
Selling, general and administrative - related party     455      
Depreciation and amortization 364 251 1,011 688 886 2,040
Transaction costs 0 77 12,043 163 217 105
Total operating expenses 24,361 11,673 86,123 31,154 49,189 42,384
Loss on purchase commitments         0 1,165
Loss from operations (22,585) (11,368) (82,489) (30,640) (47,635) (38,528)
Other expense, net            
Debt financing charge on convertible notes   0   (464) (464) (3,145)
Gain (loss) on foreign exchange (88) 31 (154) (62) (228) 50
Change in fair value of convertible notes   (15,398) (165,703) (25,921) (10,022) (9,532)
Change in fair value of warrant liabilities   (90) (60,345) 1,255 (5,701) (945)
Change in fair value of other earnout shares (3,798)   105,463      
Change in fair value of unissued shares of common stock 56   (244)      
Change in fair value of committed equity facility (63)   (63)      
Other, net 241 1,273 149 1,677 1,903 (255)
Pay-to-Play financing charge         0 (35,832)
Total other expense, net (3,652) (14,184) (120,897) (23,515) (14,512) (49,659)
Total loss before income taxes (26,237) (25,552) (203,386) (54,155) (62,147) (88,187)
Provision for income taxes 21 55 222 348 (952) (598)
Net loss $ (26,258) $ (25,607) $ (203,608) $ (54,503) $ (61,195) $ (87,589)
Net loss per share - basic $ (0.25) $ (1.47) $ (2.03) $ (3.12) $ (3.5) $ (20.79)
Net loss per share - diluted $ (0.25) $ (1.47) $ (2.03) $ (3.12) $ (3.5) $ (20.79)
Weighted average shares outstanding - basic 103,585,681 17,478,371 100,130,737 17,466,606 17,476,105 4,213,244
Weighted average shares outstanding, diluted (in shares) 103,585,681 17,478,371 100,130,737 17,466,606 17,476,105 4,213,244
Hardware revenue            
Revenue            
Total revenue $ 10,528 $ 23 $ 11,592 $ 28 $ 29 $ 16
Software Revenue            
Revenue            
Total revenue 0   300      
Hardware Revenue - Related Party            
Revenue            
Total revenue 1,124   2,486      
Software Revenue - Related Party            
Revenue            
Total revenue $ 215   $ 478      
Engineering Services Revenue - Related Party            
Revenue            
Total revenue   $ 758   $ 1,525 $ 1,525 $ 3,840