Quarterly report [Sections 13 or 15(d)]

Unaudited Condensed Consolidated Statements of Cash Flows

v3.26.3
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash Flows From Operating Activities:    
Net loss $ (24,303) $ (50,652)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 7,790 8,152
Non-cash lease expense 2,002 3,116
Change in fair value of derivative and other accrued liabilities 0 8
Provision for credit losses 571 5,241
Loss on disposal of property and equipment 2,049 5,712
Gain on sale of Envoy Technologies Inc. (802) 0
Non-cash gain on lease termination (309) (72)
Provision for slow moving and obsolete inventory 2,197 4,571
Change in fair value of consideration payable and earn-out liabilities (1,273) (9,238)
Stock-based compensation 2,419 2,186
Changes in operating assets and liabilities:    
Accounts receivable 14,675 3,904
Inventory 470 31
Prepaid expenses and other current assets (440) (2,283)
Other assets (12) (44)
Accounts payable, accrued expenses, and other current liabilities (5,664) 654
Other liabilities (398) (6,548)
Operating lease liabilities (2,004) (3,746)
Deferred revenue (3,614) 7,254
Total Adjustments 17,657 18,898
Net Cash Used In Operating Activities (6,646) (31,754)
Cash Flows From Investing Activities:    
Proceeds from sale of marketable securities 0 13,630
Proceeds from sale of equity method investment 0 223
Purchase consideration of Zemetric, net of cash acquired 0 (207)
Cash disposed of in sale of Envoy Technologies Inc., net of proceeds received (250) 0
Proceeds from government grants 1,303 1,952
Capitalization of engineering costs (175) (205)
Purchases of property and equipment (2,122) (4,225)
Net Cash (Used In) Provided By Investing Activities (1,244) 11,168
Cash Flows From Financing Activities:    
Proceeds from sale of common stock in public offering 0 891 [1]
Repayment of financing liability (63) (26)
Net Cash (Used In) Provided By Financing Activities (63) 865
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Restricted Cash (760) 1,085
Net (Decrease) Increase In Cash and Cash Equivalents and Restricted Cash (8,713) (18,636)
Cash and Cash Equivalents and Restricted Cash - Beginning of Period 39,657 41,852
Cash and Cash Equivalents and Restricted Cash - End of Period 30,944 23,216
Cash and cash equivalents and restricted cash consisted of the following:    
Cash and cash equivalents 30,499 23,130
Restricted cash 445 86
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Including Discontinued Operation 30,944 23,216
Supplemental Disclosures of Cash Flow Information:    
Interest 48 71
Income taxes 160 28
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for lease obligations 330 1,015
Right-of-use assets derecognized in connection with lease termination (1,195) (577)
Transfer of inventory to property and equipment, net of adjustment 2,103 3,313
Proceeds to be received from government grants 109 3,104
Earn Out Liabilities [Member]    
Non-cash investing and financing activities:    
Common stock issued 412 0
Zemetric [Member]    
Non-cash investing and financing activities:    
Common stock issued 0 1,098
Common stock obligation incurred as purchase consideration of Zemetric 0 53
Earn-out liabilities incurred as purchase consideration of Zemetric 0 2,194
Conversion of Consideration Payable to Common Stock and Warrants [Member]    
Non-cash investing and financing activities:    
Common stock and warrants issued in satisfaction of consideration payable $ 0 $ 11,790
[1] For the nine months ended September 30, 2025, includes gross proceeds of $909, less issuance costs of $18.