v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (35,425,098) $ (55,475,786)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,801,443 4,019,532
Stock-based compensation 1,140,072 6,266,416
Change in inventory and prepaid purchases reserve 4,595,365 4,575,287
Non-cash lease expense 440,483 216,263
Change in fair value and gain on conversion of 2026 Notes and Warrants 0 (2,937,925)
Non-cash change in fair value loss of convertible notes 4,913,987 5,354,074
Non-cash change in fair value of warrants (2,633,068) 5,623,920
Non-cash payment of convertible notes (2,049,038) 0
Original issuance discount - non-cash fees on convertible notes 4,812,500 1,661,995
Effects of changes in operating assets and liabilities:    
Accounts receivable (1,834,120) 3,709,705
Inventory, net 5,610,038 (5,724,913)
Prepaid expenses and other current assets 1,039,330 1,253,225
Other assets (239,998) 0
Accounts payable and accrued liabilities 1,812,586 414,822
Deferred revenue (302,000) 2,240,250
Warranty liability 290,205 (1,260,321)
Net cash used in operating activities (14,027,313) (30,063,456)
Cash flows from investing activities:    
Capital expenditures 0 (3,759,353)
Net cash used in investing activities 0 (3,759,353)
Cash flows from financing activities:    
Proceeds from convertible notes 33,687,500 19,500,000
Payments on convertible notes 0 (20,000,000)
Proceeds from issuance of common stock 406,963 4,366,649
Payments on finance lease 0 (412,530)
Exercise of options and restricted share award activity 7,073 (168,614)
Net cash provided by (used in) financing activities 34,101,536 3,285,505
Change in cash and cash equivalents and restricted cash 20,074,223 (30,537,304)
Cash and cash equivalents and restricted cash, beginning of the period 4,644,938 35,845,915
Cash and cash equivalents and restricted cash, end of the period $ 24,719,161 $ 5,308,611

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