Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 5,343 $ 9,397
Accounts receivable, net 4,339 25,304
Non-trade receivable 7,119 961
Related party receivable 181
Inventory 10,621 6,517
Prepaid expenses and other current assets 4,562 1,608
Total current assets 32,165 43,787
Property and equipment, net 227 71
Contract fulfillment assets 6,399 9,232
Other assets 948 2,953
Total assets 39,739 56,043
Liabilities and stockholders’ equity    
Accounts payable 22,848 19,847
Accrued liabilities 20,892 12,300
Total current liabilities 43,740 32,147
Income tax payable 1,699 1,528
Total liabilities 45,439 33,675
Commitments and contingencies (Note 10)
Stockholders’ equity (deficit)    
Common stock, $0.001 par value per share; 100,000,000 shares authorized: and 4,983,868 and 4,426,867 shares issued and outstanding at December 31, 2024 and 2023, respectively [1] 5 4
Preferred stock, $0.001 par value per share, 5,000,000 shares authorized: and no shares issued and outstanding at December 31, 2024 and 2023, respectively
Additional paid-in capital [1] 277,903 272,324
Accumulated deficit (283,608) (249,960)
Total stockholders’ equity (deficit) (5,700) 22,368
Total liabilities and stockholders’ equity (deficit) $ 39,739 $ 56,043
[1] Adjusted retroactively to reflect the 1-for-10 reverse stock split that became effective on July 17, 2024, see Note 1.