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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:        
Net loss     $ (61,195) $ (87,589)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization $ 1,011 $ 688 886 2,040
Noncash lease expense     649 815
Pay-to-Play financing charge       35,832
Debt financing charge on convertible notes   464 464 3,145
Stock-based compensation 28,092 1,042 3,847 2,483
Credit loss expense     570 421
Deferred income taxes     (1,124) (107)
Loss on purchase commitments     0 1,165
Non-cash loss on lease termination       (18)
Changes in operating assets and liabilities:        
Accounts receivable, net     (614) 362
Accounts receivable - related party     467 639
Inventories     (2,039) (2,186)
Prepaid expenses and other current assets     (21,630) 167
Other assets     15 64
Accounts payable and accrued liabilities     10,988 9,500
Operating lease liabilities     (616) (854)
Income taxes payable     2,108 (590)
Accrued loss on purchase commitments     (2,985) (3,022)
Accrued compensation     (325) 34
Other liabilities     1,279 (733)
Change in fair value of convertible notes     10,022 9,532
Change in fair value of warrant liabilities     5,701 945
Net cash used in operating activities: (57,290) (35,788) (53,532) (27,955)
Cash flows from investing activities:        
Purchases of property and equipment (707) (1,165) (902) (220)
Net cash used in investing activities (707) (1,165) (902) (220)
Cash flows from financing activities:        
Merger and PIPE financing, net of transaction costs 15,874      
Funds held in escrow 503      
Payment of deferred offering costs (4,332) (3,668) (4,357)  
Repayment of advances from related party (114)      
Proceeds from issuance of common stock, net of financing charge on the committed equity facility 20,024      
Payment of committed equity facility transaction costs (200)      
Proceeds from short term demand notes       4,925
Repayment of short term demand notes   (4,750) (4,750) (176)
Proceeds from exercise of stock options 18 80 98 1
Proceeds from convertible notes   110,718 110,718 12,300
Net cash provided by financing activities 31,773 102,380 101,709 26,475
Net change in cash, cash equivalents and restricted cash (26,224) 65,427 47,275 (1,700)
Cash, cash equivalents and restricted cash at beginning of period 50,488 3,213 3,213 4,913
Cash, cash equivalents and restricted cash at end of period 24,264 68,640 50,488 3,213
Components of cash, cash equivalents and restricted cash:        
Cash and cash equivalents 24,001 68,640 50,237 3,213
Restricted cash (included within other assets) 263   251  
Cash - end of period 24,001 68,640 50,237 3,213
Total cash, cash equivalents and restricted cash 24,264 68,640 50,488 3,213
Supplemental cash flow disclosures:        
Cash paid for income taxes     223  
Cash paid during the year for interest     245 3
Supplemental non-cash disclosures:        
Property and equipment acquired in accounts payable & accrued expenses     510  
Reissuance of Shadow Preferred in Pay-to-Play Pull Through Exchange at redemption value       109,327
Operating lease asset obtained in exchange for new operating lease liabilities 431   0 1,673
Right-of-use assets and lease liabilities extinguished upon termination of lease, net of gain       (108)
Conversion of convertible notes to common stock 314,334      
Capitalized deferred offering costs included in accounts payable and accrued expenses and other current liabilities 241 864    
Issuance of warrants with convertible notes   $ 4,816 4,816 1,690
Capitalized deferred offering costs included in accounting payable and accrued liabilities     $ 6,764 1,491
Net exercise of warrants for common stock 75,056      
Issuance of warrants for professional services 167      
Issuance of common stock 8,754      
Redemption of common shares with cash held in escrow 33,157      
Issuance of common stock under committed equity facility 243      
Issuance of common stock to advisors $ 2,538      
Pay-to-Play convertible notes and Common Rights Offering        
Cash flows from financing activities:        
Proceeds from convertible notes       $ 9,425