Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statement of Cash Flows (Unaudited)

v3.25.2
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (7,017) $ (9,522)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 1,852 1,725
Stock-based compensation 1,216 796
Release of customer allowance liability (5,490)
Impairment of contract fulfillment assets 1,084 3,217
Other 36 132
Changes in operating assets and liabilities:    
Accounts receivable 1,330 5,862
Non-trade receivable 152 (1,237)
Related party receivable (2,647)
Inventory 986 1,695
Prepaid expenses and other current assets (589) (1,397)
Contract fulfillment assets (4,383) (3,673)
Other assets (18) (177)
Accounts payable (2,265) 625
Accrued liabilities (1,433) 1,062
Income tax payable 51 (21)
Net cash used in operating activities (14,488) (3,560)
Cash flows from investing activities:    
Purchase of property and equipment (69)
Net cash used in investing activities (69)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 8,952 3,784
Proceeds from promissory note, net of issuance costs 2,790
Repayments of short-term borrowings (591)
Proceeds from stock option exercises, net of taxes paid on vested restricted stock units 48
Net cash provided by financing activities 11,151 3,832
Net decrease in cash and cash equivalents (3,337) 203
Cash and cash equivalents at beginning of period 5,343 9,397
Cash and cash equivalents at end of period 2,006 9,600
Supplemental disclosure of cash flow information:    
Cash paid for interest 241 17
Cash paid for income taxes 28 12
Non-cash activities:    
Receivables transferred to satisfy payables (Note 3) 11,308
Accrued bonus settled in equity $ 1,215