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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net loss $ (17,710) $ (56,824)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,156 183
Non-cash lease expense 184 512
Loss on disposal of property and equipment 0 2
Stock-based compensation expense 2,508 1,431
Warrant liabilities revaluation (1,818) (1,042)
Contingent value right liability revaluation (346) 39,300
Forward contract liabilities revaluation 0 6,890
Changes in operating assets and liabilities:    
Accounts receivable (893) 3,864
Unbilled receivable 0 611
Prepaid expenses, deposits and other assets (5,830) 1,652
Accounts payable 1,819 (633)
Deferred revenue 0 (5,437)
Accrued expenses and other liabilities (2,178) (6,426)
Net cash used in operating activities (23,108) (15,917)
Cash flows from investing activities    
Purchases of property and equipment (1,075) (602)
Net cash used in investing activities (1,075) (602)
Cash flows from financing activities    
Equity offering costs (454) 0
Proceeds from exercise of common warrants 0 2,877
Proceeds from issuance of Series A Preferred Stock, gross in private placement 0 40,000
Proceeds from exercise of stock options 183 154
Payments of contingent value rights distributions (7,754) 0
Net cash (used in) provided by financing activities (8,025) 43,031
Effect of exchange rate changes on cash 32 (5)
Net change in cash, cash equivalents, and restricted cash (32,176) 26,507
Cash, cash equivalents, and restricted cash at beginning of period 214,279 78,288
Cash, cash equivalents, and restricted cash at end of period 182,103 104,795
Non-cash investing and financing activities    
Purchase of property and equipment not yet paid $ 535 $ 0