v3.25.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Income Statement [Abstract]        
Sales, net of returns and allowances $ 5,669,469 $ 842,440 $ 6,310,391 $ 2,181,735
Cost of sales 13,051,356 7,301,348 18,216,119 14,744,126
Gross loss (7,381,887) (6,458,908) (11,905,728) (12,562,391)
Operating expenses        
Selling, general and administrative 5,844,698 12,066,553 12,628,609 26,161,831
Research and development 1,246,348 1,992,779 2,775,367 5,520,690
Total operating expenses 7,091,046 14,059,332 15,403,976 31,682,521
Loss from operations (14,472,933) (20,518,240) (27,309,704) (44,244,912)
Interest expense, net (582,246) (2,028,808) (5,834,474) (3,193,401)
Change in fair value of convertible notes (1,641,893) (3,130,051) (4,913,988) (3,597,925)
Change in fair value of warrants 1,916,108 (642,900) 2,633,068 (4,439,548)
Loss before provision for income taxes (14,780,964) (26,319,999) (35,425,098) (55,475,786)
Provision for income taxes 0 0 0 0
Net loss $ (14,780,964) $ (26,319,999) $ (35,425,098) $ (55,475,786)
Net loss per share of common stock        
Basic (in usd per share) [1] $ (1.67) $ (17.45) $ (5.34) $ (40.81)
Diluted (in usd per share) [1] $ (1.67) $ (17.45) $ (5.34) $ (40.81)
Weighted average shares used in computing net loss per share of common stock        
Basic (in shares) [1] 8,827,196 1,508,403 6,630,399 1,359,416
Diluted (in shares) [1] 8,827,196 1,508,403 6,630,399 1,359,416
[1] Periods presented have been adjusted to reflect the 2024 reverse stock split (1-for-20), which was effective June 17, 2024 and the 2025 reverse stock split (1-for-12.5) which was effective March 17, 2025. Additional information regarding the reverse stock splits may be found in Note 1 – Summary of Business and Significant Accounting Principles to these Condensed Consolidated Financial Statements in this Quarterly Report on Form 10-Q

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