|
FY2025
12 months to Dec 31, 2025
|
FY2024
12 months to Dec 31, 2024
|
|
|---|---|---|
| Cash flows from operating activities | ||
| Net income (loss) | ||
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation and amortization | ||
| Accretion of debt discount and non-cash interest expense | ||
| Stock-based compensation expense | ||
| Non-cash lease expense | ||
| Non-cash gain on transaction with Acquirer | ||
| Loss from equity method investment | ||
| Non-cash license revenue | ||
| Loss on disposal of property and equipment | ||
| Changes in operating assets and liabilities: | ||
| Accounts receivable | ||
| Other receivables | ||
| Receivables from related parties | ||
| Prepaid expenses and other current assets | ||
| Other non-current assets | ||
| Accounts payable | ||
| Accrued expenses | ||
| Operating lease liability | ||
| Deferred revenue, current portion | ||
| Net cash used in operating activities | ||
| Cash flows from investing activities | ||
| Purchase of property and equipment | ||
| Proceeds from the sale of property and equipment | ||
| Net cash used in investing activities | ||
| Cash flows from financing activities | ||
| Proceeds from issuance of common stock and pre-funded warrants in private placement | ||
| Issuance costs associated with issuance of common stock and pre-funded warrants in private placement | ||
| Proceeds from the issuance of debt | ||
| Payment of third-party fees associated with debt | ||
| Proceeds from exercise of stock options | ||
| Net cash provided by financing activities | ||
| Net decrease in cash | ||
| Cash and cash equivalents at beginning of period | ||
| Cash and cash equivalents at end of period | ||
| Supplemental disclosure of cash flow information | ||
| Cash paid for interest | ||
| Cash paid for income taxes | ||
| Supplemental schedule of non-cash investing and financing activities | ||
| Payable for purchase of fixed assets | ||
| Fair value of warrants issued to lender in conjunction with 2025 Loan Agreement (as defined in Note 3) |
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