| Metric | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and cash equivalents | $205.0M+130.8% | $88.8M+14.0% | $77.9M+4.0% | $74.9M |
| Accounts receivable, net | $8.8M | — | — | — |
| Inventory | $1.8M | — | — | — |
| Grant receivable | $200K+0.0% | $200K | — | — |
| Prepaid expenses and other current assets | $7.6M+27.5% | $5.9M-9.3% | $6.6M+32.5% | $4.9M |
| Total current assets | $223.4M+135.3% | $95.0M-33.9% | $143.7M+54.7% | $92.9M |
| Property and equipment, net | $32K | — | $37K-59.8% | $92K |
| Right-of-use asset, net | $491K-65.1% | $1.4M+20.0% | $1.2M-34.5% | $1.8M |
| Restricted cash | $241K | — | $241K+0.0% | $241K |
| Intangible assets, net | $16.4M | — | — | — |
| Other assets | $6.1M+24.8% | $4.9M+6.8% | $4.6M+7808.6% | $58K |
| Total assets | $246.4M+142.7% | $101.5M-32.2% | $149.7M+57.5% | $95.0M |
| Accounts payable | $12.4M+209.2% | $4.0M-44.0% | $7.2M+46.6% | $4.9M |
| Accrued expenses, short-term | $54.0M+108.0% | $26.0M+44.8% | $17.9M+19.7% | $15.0M |
| Vendor financing arrangement, short-term | $5.3M | — | — | — |
| Lease liability, short-term | $535K-46.2% | $995K+5.7% | $941K+18.5% | $794K |
| Total current liabilities | $72.3M+133.3% | $31.0M+17.4% | $26.4M+21.8% | $21.7M |
| Long-term debt | $76.3M+87.4% | $40.7M+1.6% | $40.1M+63.4% | $24.5M |
| Vendor financing arrangement, long-term | $5.0M | — | — | — |
| Lease liability, long-term | $535K | — | $530K-63.9% | $1.5M |
| Warrant liability | $35.6M-38.7% | $58.2M | — | — |
| Total liabilities | $189.2M+45.1% | $130.4M+83.2% | $71.2M+49.4% | $47.7M |
| Common stock, $0.0001 par value; 300,000 shares authorized, 77,740 and 44,784 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | $8K+100.0% | $4K+33.3% | $3K+50.0% | $2K |
| Additional paid-in capital | $1.22B+31.3% | $926.6M+5.0% | $882.2M+12.4% | $784.9M |
| Accumulated other comprehensive income | $5.2M | — | — | — |
| Accumulated deficit | -$1.16B-21.9% | -$955.5M-15.8% | -$824.9M-11.8% | -$737.5M |
| Total stockholders' equity (deficit) | $57.2M+298.0% | -$28.9M-150.4% | $57.4M+21.1% | $47.4M |
| Total liabilities, convertible preferred stock and stockholders' equity | $246.4M+142.7% | $101.5M-32.2% | $149.7M+57.5% | $95.0M |
Source: SEC EDGAR XBRL. % change vs prior period shown where available.
Source: SEC EDGAR 10-K and 10-Q filings. Up to 10 years annual / 16 quarters shown.