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FY2025
12 months to Dec 31, 2025
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FY2024
12 months to Dec 31, 2024
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FY2023
12 months to Dec 31, 2023
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FY2022
12 months to Dec 31, 2022
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|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net loss | ||||
| Adjustments to reconcile net loss to cash used in operating activities: | ||||
| Depreciation and amortization | ||||
| Allowance for doubtful accounts | ||||
| Stock-based compensation | ||||
| Amortization of operating right-of-use assets | ||||
| Provision for excess and obsolete inventory | ||||
| Non-cash interest (income) expense | ||||
| Venture Loan interest and final payment fee | ||||
| Amortization of Venture Loan commitment fee | ||||
| Non-cash Lincoln Park Purchase Agreement issuance costs | ||||
| Non-cash interest income | ||||
| Non-cash interest expense | ||||
| Change in fair value of warrant liabilities | ||||
| Change in fair value of Term Loan | ||||
| Debt issuance costs netted from Term Loan proceeds | ||||
| Loss (gain) on marketable equity securities | ||||
| Unrealized foreign exchange loss (gain) | ||||
| Realized loss on issuance of shares under the Lincoln Park Purchase Agreement | ||||
| Other noncash items | ||||
| Change in operating assets and liabilities: | ||||
| Trade accounts receivable | ||||
| Research incentives receivable | ||||
| Inventories | ||||
| Prepaid expenses and other current assets | ||||
| Trade accounts payable | ||||
| Accrued expenses and other current liabilities | ||||
| Deferred revenue | ||||
| Operating lease liability | ||||
| Other non-current assets, net | ||||
| Net cash used in operating activities | ||||
| Cash flows from investing activities: | ||||
| Purchase of property and equipment | ||||
| Purchase of software | ||||
| Purchases of marketable debt securities | ||||
| Purchase of convertible note | ||||
| Proceeds from recovery of previously written-off convertible note | ||||
| Sales of marketable securities | ||||
| Expenditures for internal-use software | ||||
| Net cash used in investing activities | ||||
| Cash flows from financing activities: | ||||
| Merger, net of redemption and transaction costs (Note 3) | ||||
| Proceeds from the issuance of common stock pursuant to the Lincoln Park Purchase Agreement | ||||
| PIPE | ||||
| Lincoln Park Purchase Agreement | ||||
| Total proceeds from the issuance of common stock pursuant to the Lincoln Park Purchase Agreement | ||||
| Proceeds from exercise of Public Warrants | ||||
| Total proceeds from exercise of Public Warrants | ||||
| Proceeds from the issuance of common stock in at-the-market offerings, net of issuance costs | ||||
| Proceeds from issuance of common stock upon exercise of warrants | ||||
| Proceeds from the issuance of common stock upon exercise of stock options | ||||
| Proceeds from common stock issued under the Employee Stock Purchase Plan | ||||
| Proceeds from Term Loan | ||||
| Proceeds from government assistance | ||||
| Government loan payment | ||||
| Repayment of promissory notes - related party | ||||
| Debt payments | ||||
| Venture Loan interest and final payment fee | ||||
| Payment of tax withheld pursuant to stock-based compensation settlements | ||||
| Short swing profit settlement | ||||
| Proceeds from debt financing | ||||
| Debt payment for Term Loan | ||||
| Repayments on TPC loan | ||||
| Proceeds from equipment financing | ||||
| Payments for debt issuance costs | ||||
| Repayment of the equipment financing | ||||
| Other debt payments | ||||
| Net cash provided by financing activities | ||||
| Effect of exchange rate changes on cash and cash equivalents | ||||
| Net increase in cash and cash equivalents | ||||
| Cash and cash equivalents at beginning of period | ||||
| Cash and cash equivalents at end of period | ||||
| Supplemental disclosures of cash flow information: | ||||
| Cash Paid for Interest | ||||
| Supplemental disclosure of non-cash investing and financing activities: | ||||
| Capitalized stock-based compensation | ||||
| Inventory applied to capital projects | ||||
| Reclassification of warrant liability to equity upon exercise | ||||
| Debt issuance costs settled by issuing freestanding warrants | ||||
| Operating lease right-of-use assets exchanged for new operating lease obligations | ||||
| Increase in operating lease liability and right-of-use asset due to resolution of contingency | ||||
| Purchases of property and equipment included in accounts payable | ||||
| Initial value of promissory notes recognized in connection with closing of the Merger | ||||
| Initial warrant liabilities recognized in connection with closing of the Merger | ||||
| Non-cash Merger financing | ||||
| Non-cash Directors and Officers Insurance | ||||
| Bonus settled in vested share based compensation awards | ||||
| Unrealized gains on available-for-sale securities | ||||
| Stock option exercise proceeds in transit | ||||
| Conversion of convertible preferred stock to common stock | ||||
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