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

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities    
Net loss $ (11,431) $ (14,672)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt (recovery) expense (211) 516
Gain on extinguishment of debt   (1,125)
Amortization of debt discount 466 307
Amortization of acquired intangible assets 4,258 3,424
Amortization of operating lease right-of-use assets 88 91
Share-based compensation 6,288 6,098
Changes in operating assets and liabilities:    
Accounts receivable (19,341) 4,475
Inventory 4,807 (4,225)
Prepaid expenses and other current assets (164) 376
Other assets   6
Accounts payable (7,199) (2,099)
Related party expenses (73) 333
Accrued expenses 10,149 (2,925)
Accrued interest (6) 382
Income tax payable 10 7
Lease liabilities (82) (96)
Net cash (used in) operating activities (12,441) (9,127)
Cash flows from investing activities    
Acquired intangible assets   (15,000)
Net cash (used in) investing activities   (15,000)
Cash flows from financing activities    
Proceeds from the exercise of stock options 350 207
Proceeds from issuance of common stock, ATM offering, net of issuance costs 16,359 7,877
Issuance of common stock under ESPP 217 209
Proceeds from term-loan   10,000
Payment of debt issuance costs (75) (50)
Payment of license installment note payable (625) (1,250)
Net cash provided by financing activities 16,226 16,993
Net change in cash 3,785 (7,134)
Cash at the beginning of the period 20,305 27,439
Cash at the end of the period 24,090 20,305
Supplemental disclosure of cash flow information:    
Cash paid for interest 3,238 2,011
Cash paid for income taxes $ 50 125
Supplemental disclosure of non-cash financing and investing activities:    
ROU assets obtained in exchange for lease liabilities   $ 188