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Condensed Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 75,928 $ 124,014
Short-term investments 113,074 34,671
Accounts receivable, net 36,889 35,619
Inventories 55,770 59,387
Prepaid expenses and other current assets 4,900 4,530
Total current assets 286,561 258,221
Restricted cash 3,329 3,329
Property and equipment, net 6,944 8,133
Operating lease right-of-use assets 3,559 3,940
Other assets 818 2,172
Total assets 301,211 275,795
Current liabilities:    
Accounts payable 1,172 3,862
Accrued compensation and related benefits 8,241 16,821
Accrued expenses and other current liabilities 7,838 8,205
Accrued warranty liability 1,930 1,938
Deferred revenue, current 13,189 12,753
Operating lease liabilities, current 1,853 1,799
Total current liabilities 34,223 45,378
Accrued interest 0 2,695
Deferred revenue 804 844
Operating lease liabilities 2,201 2,684
Term loan 94,115 197,375
Total liabilities 131,343 248,976
Commitments and contingencies (Note 6)
Stockholders' equity:    
Preferred stock, $0.001 par value; 5,000 shares authorized as of March 31, 2025 and December 31, 2024; 21 and 0 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 3,841 0
Common stock, $0.001 par value; 300,000 shares authorized as of March 31, 2025 and December 31, 2024; 17,722 and 3,530 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 18 4
Additional paid-in capital 1,281,427 1,116,496
Accumulated other comprehensive loss 88 42
Accumulated deficit (1,115,506) (1,089,723)
Total stockholders' equity 169,868 26,819
Total liabilities and stockholders' equity $ 301,211 $ 275,795