v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash Flows from Operating Activities:    
Net loss $ (2,892) $ (7,232)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 21 74
Share-based compensation 1,489 1,927
Amortization of operating lease right-of-use assets 418 548
Noncash interest expense 854 39
Loss on settlement of convertible notes 358
Derecognition of Mabwell liability (see Note 19) (3,300)
Gain on reversal of excise taxes payable (see Note 10) (4,401)
Other income (see Note 2) (3,556)
Amortization of debt discount 160
Change in fair value of forward purchase agreement asset 23 339
Change in fair value of SEPA put rights asset 92 312
Change in fair value of embedded derivative liability 773 11
Gain on extinguishment of accrued liabilities (200) (173)
Changes in operating assets and liabilities:    
Accounts receivable (95)
Prepaid expenses and other current assets (34) (233)
Security deposits 11
Accounts payable 1,247 (860)
Accrued expenses 197 378
Excise taxes payable 57
Income taxes payable (366)
Operating lease liability (456) (566)
Net cash used in operating activities (6,006) (9,030)
Cash Flows from Investing Activities:    
Proceeds from sales of property and equipment 26
Cash Flows from Financing Activities:    
Net proceeds from the Merger 490
Net proceeds from PIPE financing 10,361
Cash transferred into escrow pursuant to Forward Purchase Agreement (1,134)
Proceeds from settlement of Forward Purchase Agreement 132
Proceeds from issuance of notes payable - related party 5,883
Payment of notes payable - related party (5,735)
Proceeds from issuance of Convertible Notes, net of issuance costs 1,840 2,755
Proceeds from issuance of Note payable 553
Payments on Note payable (553)
Issuance of Advance Shares 1,098
Payment of offering costs (1,442)
Repayment of finance lease liabilities (17)
Net cash provided by financing activities 3,070 11,161
Net change in cash and restricted cash (2,910) 2,131
Cash and restricted cash - beginning of period 2,992 861
Cash and restricted cash - end of period 82 2,992
Supplemental disclosure of cash flow information and non-cash transactions:    
Interest paid 21 1
Issuance Cost for Advance Shares included in accrued expenses 77
Fair value of common stock issued for services 161
Common stock issued in settlement of convertible notes and embedded derivative liability 5,936  
Reclassification of RSU liability into equity 396
Fair value of embedded derivative liability at issuance date 93 69
Deferred offering costs included in accounts payable 436
Reclassification of residual value guarantees under finance lease to accrued expense 113
ACAB liabilities assumed in the Merger, net 6,585
Conversion of notes payable-related parties into common stock of New Abpro 2,000
Conversion of pre-merger preferred stock of Abpro into common stock of New Abpro 75,563
SEPA commitment fee paid in common stock shares 327
As reported within the consolidated balance sheets:    
Cash 67 2,850
Restricted cash 15 142
Total cash and restricted cash as presented in the balance sheet $ 82 $ 2,992