v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flow from operating activities:    
Net loss $ (91,716) $ (57,892)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation and amortization 7,295 7,922
Non cash lease expense 110 160
Gain on amortization of licensing obligation (1,911)
Provision for credit losses 1,353 457
Change in fair value of warrant liabilities 3,318 (398)
Change in fair value of derivative liability (65)
Inventory reserve for obsolescence (102) (186)
Inventory impairment 4,335 466
Impairment of preferred stock investment 2,890
Loss on issuance of common stock to Yorkville in connection with the Side Letter 382
Loss on issuance of common stock in connection with the settlement of debt 73
Issuance of warrants for Strategic Advisory Agreement 1,259
Issuance of common stock due to Strategic Advisory Agreement 108  
Loss on issuance of convertible note with warrants 2,335
Issuance of warrants to preferred stockholders in consideration of forbearance agreement 49
Gain on forgiveness of interest (991)
Share-based compensation expense 10,378 11,569
Director fees paid with RSU’s 264
Issuance of common stock to Palantir as consideration for settlement agreement 175
Issuance of common stock to Yorkville for debt extension and SEPA commitment fee 317
Issuance of common stock for consulting expense 705 158
Change in fair value of contingent stock consideration (193)
Loss on extinguishment of debt 6,356 3,908
Change in fair value of debt 1,809 492
Non cash interest expense 4,915 4,144
Other, net 300
Changes in operating assets and liabilities:    
Accounts receivable 7,551 (3,968)
Inventory 10,246 6,284
Prepaid expenses and other assets (40) 905
Accounts payable 3,126 9,239
Accrued expenses and other liabilities 13,452 12,634
Accrued R&D software (3,500)
Lease liabilities 350 371
Deferred income tax liabilities 3
Deferred revenue (1,091) 235
Net cash used in operating activities (13,254) (6,401)
Cash flow from investing activities:    
Capital expenditures (161)
Rebound asset acquisition (1,500)
Proceeds from Sanuwave convertible note receivable 2,175
Net cash provided by investing activities 514
Cash flow from financing activities:    
Transaction costs related to the issuance of promissory notes with warrants (40)
Proceeds from Issuance of promissory notes with warrants 10,000
Proceeds from warrants and short-term debt - related parties 15,000
Proceeds from issuance of short-term debt - unaffiliated 3,622
Repayment of short-term debt - unaffiliated (17,374)
Payment of SEPA commitment fee (25)
Proceeds from the sale of common stock in June 2025 PIPE 1,035
Proceeds from the sale of common stock and warrants in July 2025 PIPE 2,000
Proceeds from related party note with KTL Warrant 6,812
Proceeds from the exercise of stock options 108 58
Cash proceeds from merchant cash advance 3,286
Repayment of merchant cash advance (2,588)
Proceeds from the exercise of warrants by Dragasac 2,460
Repayment of short-term debt - related party (121) (146)
Proceeds from issuance of preferred stock with warrants in PIPE Offering 2,000 6,000
Transaction costs from issuing of preferred stock with warrants in PIPE Offering (210)
Tax withholding on vesting of restricted stock units (193) (434)
Repayment of related party notes (5,900)
Net cash provided by financing activities 18,649 6,701
Net increase (decrease) in cash, cash equivalents and restricted cash 5,395 814
Cash, cash equivalents and restricted cash at beginning of year 10,977 10,163
Cash, cash equivalents and restricted cash at end of year 16,372 10,977
Supplemental disclosure of cash flow information:    
Cash paid for interest 2,502 144
Cash paid for income taxes 52
Supplemental non-cash investing and financing activities:    
Residual fair value of warrants issued with promissory notes 336
Reclass of redemption value of preferred shares from equity to liability 300
Conversion of unsecured senior convertible note 922
Conversion of Yorkville convertible note 3,469
Common stock issued for short-term debt conversion 1,700
Exchange of IP assets for license obligation 35,723
Preferred stock received for product purchase credits 2,890
Property and equipment included in accounts payable and accrued expenses (87)
Reclassification of RWI Bridge warrants from liability classified to equity classified 8,902
Reclassification of November 2024 Purchaser and Placement Agent warrants from liability classified to equity classified 501
Reclassification of KTL Warrants from liability classified to equity classified 9,186
Issuance of RWI warrants and extinguishment of promise to issue warrants liability 1,340
Deemed dividend relating to inducement of Dragasac warrants 64
Settlement of contingent stock consideration liability 27
Paid-in kind preferred stock dividends 20
Fair value of bifurcated derivative liability associated with Preferred Stock issuance 157
Modification of C.V. Starr warrants in connection with forbearance 51
Issuance of RWI warrants in connection with forbearance 1,162
Inventory acquired in connection with Rebound asset acquisition 2,150
Reclassification of warrants from liability classified to equity classified 2,970
Assumption of short-term debt - unaffiliated by related party $ 2,333