v3.25.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash $ 19,288 $ 19,408
Accounts receivable, net 46,179 43,980
Inventories, net 7,362 6,653
Prepaid expenses and other current assets 9,323 9,922
Total current assets 82,152 79,963
Noncurrent assets:    
Restricted cash 308 293
Property and equipment, net 7,983 9,052
Intangible assets, net 93,568 125,057
Goodwill 228,844 228,844
Operating lease right-of-use assets 6,219 8,412
Other non-current assets 4,308 4,212
Total assets 423,382 455,833
Current liabilities:    
Accounts payable 17,463 14,827
Accrued liabilities 34,090 31,849
Current portion of operating lease liabilities 1,213 1,431
Deferred revenue 8,796 8,509
Current portion of long-term debt and other borrowings, net 1,850 1,850
Warrant liabilities to affiliates 5,700 7,624
Total current liabilities 69,112 66,090
Noncurrent liabilities:    
Operating lease liabilities 5,932 8,278
Long-term debt and other borrowings, net 295,325 295,661
Deferred income tax liabilities, net 860 4,131
Accrued interest due to affiliate 41,537 23,798
Mandatorily redeemable preferred stock due to affiliate, net 143,627 142,776
Other liabilities 12,703 14,699
Total liabilities 569,096 555,433
Commitments and Contingencies
Stockholders’ deficit:    
Common stock, voting, par value $0.0001 per share; 315,000,000 shares authorized; 18,705,461 shares issued and 17,512,724 outstanding as of September 30, 2025, and 18,201,093 shares issued and 17,008,356 outstanding as of December 31, 2024 8 8
Additional paid-in capital 470,040 468,711
Accumulated other comprehensive loss (6,728) (3,778)
Accumulated deficit (605,849) (561,356)
Treasury stock, at cost, 1,192,737 shares (3,185) (3,185)
Total stockholders’ deficit (145,714) (99,600)
Total liabilities and stockholders’ deficit $ 423,382 $ 455,833

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