Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statement of Cash Flows (Unaudited)

v3.25.3
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (11,770) $ (12,034)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 2,804 2,643
Stock-based compensation 1,382 1,169
Release of customer allowance liability (5,429)
Inventory write-downs 1,013
Impairment of contract fulfillment assets 1,084 3,217
Other 115 287
Changes in operating assets and liabilities:    
Accounts receivable 702 8,579
Non-trade receivable (2,722) (3,361)
Related party receivable 181 (644)
Inventory 18 (6,870)
Prepaid expenses and other current assets 811 (639)
Contract fulfillment assets (6,330) (8,643)
Other assets (17) (125)
Accounts payable (2,440) 517
Accrued liabilities (26) 10,828
Income tax payable 115 86
Net cash used in operating activities (21,522) (3,977)
Cash flows from investing activities:    
Purchase of property and equipment (206)
Net cash used in investing activities (206)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 13,797 3,798
Proceeds from promissory note, net of issuance costs 5,110
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 18,316 3,846
Net decrease in cash and cash equivalents (3,206) (337)
Cash and cash equivalents at beginning of period 5,343 9,397
Cash and cash equivalents at end of period 2,137 9,060
Supplemental disclosure of cash flow information:    
Cash paid for interest 241 17
Cash paid for income taxes 122 12
Non-cash activities:    
Receivables transferred to satisfy payables (Note 3) 11,308
Accrued bonus settled in equity 1,215
Promissory note payments settled in equity $ 375