v3.25.1
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Total revenue $ 18,886 $ 20,968
Total cost of sales 26,986 31,423
Gross loss (8,100) (10,455)
Operating expenses:    
Research and development 38,288 67,750
Sales and marketing 4,904 14,515
General and administrative 20,916 33,049
Restructuring costs 64 0
Total operating expenses 64,172 115,314
Loss from operations (72,272) (125,769)
Change in fair value of warrant liabilities 0 821
Interest expense (12,321) (2,757)
Interest income 1,767 3,430
Gain on extinguishment of debt 6,775 0
Loss from acquisition of EM4, LLC (“EM4”) (48) 1,752
Changes in fair value of derivative liability (3,671) 0
Losses and impairments related to investments and certain other assets, and other income (expense) (774) (2,604)
Total other income (expense), net (8,272) 642
Loss before provision for income taxes (80,544) (125,127)
Provision for income taxes 147 587
Net loss $ (80,691) $ (125,714)
Net loss per share:    
Basic (in dollars per share) $ (1.92) $ (4.44)
Diluted (in dollars per share) $ (1.92) $ (4.44)
Shares used in computing net loss per share:    
Basic (in shares) 42,093,255 28,307,044
Diluted (in shares) 42,093,255 28,307,044
Comprehensive Loss:    
Net loss $ (80,691) $ (125,714)
Net unrealized loss on available-for-sale debt securities (118) (70)
Comprehensive loss (80,809) (125,784)
Products    
Total revenue 12,972 15,302
Total cost of sales 22,830 24,507
Services    
Total revenue 5,914 5,666
Total cost of sales $ 4,156 $ 6,916

Source