v3.25.4
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Dec. 31, 2023
Current assets:      
Cash and cash equivalents $ 146,490 $ 60,981 $ 27,321
Accounts receivable, net 7,006 10,401 12,275
Inventories, net 16,126 15,008 21,477
Prepaid expenses and other current assets 3,401 2,566 2,789
Total current assets 173,023 88,956 63,862
Property, equipment and software, net of accumulated depreciation and amortization of $14,244 and $13,158, respectively 4,350 2,616 1,983
Right-of-use assets, net 732 928 990
Intangible assets, net of accumulated amortization of $9,502 and $5,082, respectively 8,572 11,729 5,557
Other assets 50 49 40
Total assets 186,727 104,278 72,432
Current liabilities:      
Accounts payable 3,305 2,933 2,410
Accrued and other current liabilities 9,559 8,202 9,703
Short-term lease liabilities 402 633 804
Total current liabilities 13,266 11,768 12,917
Long-term lease liabilities 369 333 219
Warrant liabilities 0 112 163
Other long-term liabilities 3,305 6,317 0
Total liabilities 16,940 18,530 13,299
Commitments and contingencies (Note 6)
Redeemable convertible preferred stock, $0.000001 par value; 10,000,000 shares authorized; 0 and 341,496,158 shares issued and outstanding at September 30, 2025 and December 31, 2024. 0 378,150 320,161
Stockholders' equity (deficit):      
Common stock, $0.000001 par value; 500,000,000 shares authorized; 18,238,462 shares and 434,720 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 0 0 0
Additional paid-in-capital 516,273 28,368 17,676
Accumulated deficit (346,032) (320,250) (277,865)
Accumulated other comprehensive loss (454) (520) (839)
Total stockholders' equity (deficit) 169,787 (292,402) (261,028)
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) $ 186,727 $ 104,278 $ 72,432