Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statement of Cash Flows

v3.26.1
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net loss $ (20,657) $ (33,648)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,300 3,557
Stock-based compensation 1,541 1,525
Release of customer allowance liability (6,207)
Loss on extinguishment of debt 161
Provision for credit losses 2,295
Inventory write-downs 887
Impairment of contract fulfillment assets 2,068 6,484
Other 358 110
Changes in operating assets and liabilities:    
Accounts receivable (1,111) 7,362
Non-trade receivable (5,883) (6,158)
Related party receivable 181 (181)
Inventory 3,849 (4,991)
Prepaid expenses and other current assets 2,114 (2,948)
Contract fulfillment assets (11,314) (7,137)
Other assets (21) 1,876
Accounts payable 9,531 14,309
Accrued liabilities (1,958) 8,001
Deferred tax assets (1,377) (10)
Income tax payable 899 171
Net cash used in operating activities (23,526) (8,486)
Cash flows from investing activities:    
Purchase of property and equipment (214)
Net cash used in investing activities (214)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net of issuance costs 13,671 4,007
Proceeds from promissory notes, net of issuance costs 6,370
Proceeds (payments) from short-term borrowings (555) 591
Proceeds from stock option exercises, net of taxes paid on vested restricted stock units 48
Net cash provided by financing activities 19,486 4,646
Net increase (decrease) in cash and cash equivalents (4,040) (4,054)
Cash and cash equivalents at beginning of the year 5,343 9,397
Cash and cash equivalents at end of the year 1,303 5,343
Supplemental disclosure of cash flow information:    
Cash paid for interest 945 29
Cash paid for income taxes 122 134
Non-cash activities:    
Purchase of DNA X LLC membership units for redeemable common stock 1,228
Accrued bonus settled in equity 1,215
Receivables transferred to satisfy payables 11,308
Bifurcation of the conversion feature in convertible note 171
Promissory note payments settled with equity $ 1,814