(unaudited, in thousands, except per share amounts)
|
|
Three Months Ended |
|
Six Months Ended |
||||||||||||
|
|
June 30, |
|
June 30, |
||||||||||||
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
||||||||
Net revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Product |
|
$ |
18 |
|
|
$ |
4,042 |
|
|
$ |
2,396 |
|
|
$ |
4,641 |
|
Service |
|
|
1,450 |
|
|
|
259 |
|
|
|
2,337 |
|
|
|
2,722 |
|
Total net revenues |
|
|
1,468 |
|
|
|
4,301 |
|
|
|
4,733 |
|
|
|
7,363 |
|
Cost of net revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
| Product |
|
|
158 |
|
|
|
991 |
|
|
|
812 |
|
|
|
1,969 |
|
| Service |
|
|
389 |
|
|
|
479 |
|
|
|
1,047 |
|
|
|
1,042 |
|
| Total cost of net revenues |
|
|
547 |
|
|
|
1,470 |
|
|
|
1,859 |
|
|
|
3,011 |
|
| Gross profit |
|
|
921 |
|
|
|
2,831 |
|
|
|
2,874 |
|
|
|
4,352 |
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
| Research and development |
|
|
4,164 |
|
|
|
3,985 |
|
|
|
9,685 |
|
|
|
4,887 |
|
| Sales and marketing |
|
|
976 |
|
|
|
757 |
|
|
|
1,972 |
|
|
|
1,593 |
|
| General and administrative |
|
|
2,860 |
|
|
|
2,627 |
|
|
|
5,696 |
|
|
|
4,104 |
|
| Gain on extinguishment of liability |
|
|
— |
|
|
|
— |
|
|
|
(14,636 |
) |
|
|
— |
|
| Total operating expenses |
|
|
8,000 |
|
|
|
7,369 |
|
|
|
2,717 |
|
|
|
10,584 |
|
| Income (loss) from operations |
|
|
(7,079 |
) |
|
|
(4,538 |
) |
|
|
157 |
|
|
|
(6,232 |
) |
| Interest expense |
|
|
(760 |
) |
|
|
(2,723 |
) |
|
|
(2,842 |
) |
|
|
(3,658 |
) |
| Other income (expenses), net |
|
|
6,863 |
|
|
|
731 |
|
|
|
2,525 |
|
|
|
2,017 |
|
| Loss before provision for income taxes |
|
|
(976 |
) |
|
|
(6,530 |
) |
|
|
(160 |
) |
|
|
(7,873 |
) |
| Provision for income taxes |
|
|
67 |
|
|
|
37 |
|
|
|
126 |
|
|
|
87 |
|
| Net loss |
|
$ |
(1,043 |
) |
|
$ |
(6,567 |
) |
|
$ |
(286 |
) |
|
$ |
(7,960 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
| Net loss per common share (1) : |
|
|
|
|
|
|
|
|
|
|
|
|
||||
| Basic and diluted |
|
$ |
(0.02 |
) |
|
$ |
(0.27 |
) |
|
$ |
(0.01 |
) |
|
$ |
(0.33 |
) |
| Weighted-average common shares outstanding (1) : |
|
|
|
|
|
|
|
|
|
|
|
|
||||
| Basic and diluted |
|
|
44,060 |
|
|
|
23,883 |
|
|
|
34,764 |
|
|
|
23,873 |
|
| (1) | Amounts for the three and six months ended June 30, 2023 and before that date differ from those in prior year condensed consolidated financial statements as they were retrospectively adjusted as a result of the accounting for the Business Combination (as defined in the Notes to the Unaudited Condensed Consolidated Financial Statements). |
