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Balance Sheet Components | 12 Months Ended
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Dec. 31, 2025
Balance Sheet Components [Abstract] |
Balance Sheet Components | 4. Balance Sheet Components Financial Instruments Funds in the Company’s investment brokerage account were held in cash equivalents, consisting of a money market account, along with short-term investments consisting of U.S. government treasury bills, which are accounted for as held-to-maturity (“HTM”) securities, and classified as Level 1 in the hierarchy of fair value measurements. HTM securities are carried at amortized cost and, as a result, are not remeasured to fair value on a recurring basis. All of the Company’s short-term investments will mature within one year of December 31, 2025. The Company does not expect a credit loss for its short-term investments.
|  | December 31, 2025 |  |  | December 31, 2024 |
Financial assets |  | Level |  |  | Amount |  |  | Level |  |  | Amount |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market account |  |  | 1 |  |  | $ | 929,165 |  |  |  | 1 |  |  | $ | 23,274,834 |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government treasury bills |  |  | 1 |  |  |  | 33,736,091 |  |  |  | 1 |  |  |  | ‒ |
|  |  |  |  |  | $ | 34,665,255 |  |  |  |  |  |  | $ | 23,274,834 |
Inventory Inventory is stated at the lower of cost or net realizable value. Cost is determined using the specific identification method, as each autonomous vehicle is individually serialized and tracked, allowing the Company to identify the specific cost associated with each unit. The specific cost of each vehicle is transferred to deferred costs upon deployment. As of December 31, 2025 and 2024, inventory totaled $2.0 million and $0.2 million, respectively. Prepaid expenses and other current assets Prepaid expenses and other current assets are comprised of the following:
|  | December 31, 2025 |  |  | December 31, 2024 |
Prepaid Expenses |  | $ | 668,090 |  |  | $ | 303,803 |
Short-term Deposits |  |  | 75,006 |  |  |  | 160,149 |
Other current assets |  |  | 775,334 |  |  |  | 128,138 |
Total prepaid and expenses and other current assets |  | $ | 1,518,430 |  |  | $ | 592,090 |
Property and Equipment, Net Property and equipment were reclassified to better reflect their appropriate categories within the fixed asset register. These reclassifications did not have a significant impact on the overall asset values or depreciation expense. Property and equipment is comprised of the following:
|  | December 31, |  |  | December 31, |
|  | 2025 |  |  | 2024 |
Automobiles (DMV-registered) |  | $ | 28,862 |  |  | $ | 128,862 |
Machinery, tools and equipment |  |  | 692,459 |  |  |  | 660,155 |
Computers and equipment |  |  | 488,552 |  |  |  | 389,007 |
Capitalized software |  |  | 1,592,092 |  |  |  | 950,832 |
Furniture and fixtures |  |  | 73,494 |  |  |  | 66,182 |
Leasehold improvements |  |  | 175,417 |  |  |  | 221,977 |
Testing equipment (Work in Progress) |  |  | 896,147 |  |  |  | 687,986 |
Property and equipment, gross |  |  | 3,947,023 |  |  |  | 3,105,001 |
Less: accumulated depreciation and amortization |  |  | (678,827 | ) |  |  | (785,599 | )
Total property and equipment, net |  | $ | 3,268,196 |  |  | $ | 2,319,402 |
Depreciation expense for the years ended December 31, 2025 and 2024 was $234,909 and $214,494, respectively. Accounts Payable Accounts payable includes independent director fees payable of $42,500 and $28,333 as of December 31, 2025 and 2024, respectively. Deferred Revenue Deferred revenue consists primarily of amounts billed to customers for tugger sales and related services for which revenue has not yet been recognized. Revenue is recognized as the Company satisfies its performance obligations in accordance with its revenue recognition policy. As of December 31, 2025 and 2024, deferred revenue related to tugger sales totaled $1,658,015 and $769,180, respectively. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities are comprised of the following:
|  | December 31, 2025 |  |  | December 31, 2024 |
Credit card payable |  | $ | 16,169 |  |  | $ | 2,050 |
Accrued expenses |  |  | 563,770 |  |  |  | 788,948 |
Accrued payroll |  |  | 2,035,795 |  |  |  | 1,314,038 |
Total accrued expenses and other current liabilities |  | $ | 2,615,734 |  |  | $ | 2,105,036 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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