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

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 35,548 $ 27,554
Restricted cash 4,000 6,000
Investments 5,980 5,928
Accounts receivable, net of allowance for doubtful accounts of $948 and $788, respectively 26,169 24,105
Inventory 42,373 33,183
Prepaid expenses and other assets 6,352 2,447
Total current assets 120,422 99,217
Property and equipment, net 81,783 84,667
Operating lease right-of-use assets 12,732 14,265
Intangible assets, net 6,750 5,579
Total assets 221,687 203,728
Current liabilities:    
Accounts payable and accrued expenses 21,184 28,641
Current maturities of long-term lease obligations 2,372 1,969
Total current liabilities 23,556 30,610
Long-term debt, net of debt discount and financing fees 48,387 47,496
Long-term lease obligations 16,870 19,221
Debt derivative liabilities 3,886 2,400
Other long-term liabilities 141 94
Total liabilities 92,840 99,821
Commitments and contingencies - see Note 15
Shareholders’ equity:    
Common stock, $0.01 par value per share; 100,000,000 shares authorized; 47,199,797 and 44,148,836 shares issued and outstanding 472 441
Additional paid-in capital 435,338 394,726
Accumulated deficit (306,963) (291,260)
Total shareholders’ equity 128,847 103,907
Total liabilities and shareholders’ equity $ 221,687 $ 203,728