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Condensed Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 12 Months Ended
Jan. 31, 2025
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Cash flows from operating activities        
Net loss   $ (6,589) $ (8,925)  
Adjustments to reconcile net loss to net cash used in operating activities        
Stock-based compensation expense   2,626 2,540  
Depreciation   49 45  
Amortization of debt discount and issuance costs   49 78  
Non-cash interest expense   213 316  
PIK interest incurred but not paid on term loan   0 690  
Amortization of right-of-use asset   413 378  
Loss (gain) on short-term investments   82 (51)  
Inventory write-downs   44 47  
Loss on disposal of property and equipment   2 0  
Changes in operating assets and liabilities        
Accounts receivable   (2,585) 682  
Inventory   (243) (249)  
Prepaid expenses and other assets   150 475  
Accounts payable   966 950  
Accrued liabilities   (2,333) (3,890)  
Deferred revenue   124 (220)  
Operating lease liabilities   (450) (394)  
Net cash used in operating activities   (7,482) (7,528)  
Cash flows from investing activities        
Acquisition of property and equipment   (37) (104)  
Proceeds from sale of short-term investments   0 2,500  
Net cash (used in) provided by investing activities   (37) 2,396  
Cash flows from financing activities        
Repurchase of common stock   (49,546) 0  
Proceeds from issuance of common stock under employee plans   385 721  
Taxes withheld and paid related to net share settlement of equity awards   (228) (649)  
Net cash provided by financing activities   21,108 72  
Net increase (decrease) in cash and cash equivalents   13,589 (5,060)  
Cash, cash equivalents and restricted cash        
Beginning of the period $ 13,552 13,552 18,180 $ 18,180
End of the period   27,141 13,120 13,552
Reconciliation of cash, cash equivalents and restricted cash to balance sheets:        
Cash and cash equivalents   27,019 12,998 13,430
Restricted cash   122 122 122
Cash, cash equivalents and restricted cash in balance sheets   27,141 13,120 13,552
Supplemental disclosure of cash flow information:        
Cash paid for interest   1,890 1,174  
Supplemental disclosures of non-cash investing and financing information:        
Follow-on offering costs included in accounts payable and accrued liabilities   611 0  
Deferred offering costs offset against additional paid-in capital   277 0  
Purchase of property and equipment included in accounts payable   141 55  
Follow-on Offering        
Cash flows from financing activities        
Proceeds from issuance of stock   70,265 0  
At-the-Market Equity Offering        
Cash flows from financing activities        
Proceeds from issuance of stock $ 200 $ 232 $ 0 $ 3,400