v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Cash flows from operating activities:      
Net loss $ (35,943) $ (25,047)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Stock-based compensation 5,161 3,791  
Depreciation 485 393  
Non-cash finance lease expense 1,465 0  
Non-cash operating lease expense 881 1,428  
Accretion of operating lease liabilities 167 194  
Amortization of discount on investments 0 (617)  
Loss on foreign currency exchange rates 29 0  
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (53) (394)  
Other assets (76) (659)  
Accounts payable 1,591 1,655  
Accrued and other current liabilities (3,538) (3,480)  
Lease liabilities (1,057) (1,252)  
Accrued interest payable under finance lease 86 0  
Net cash used in operating activities (30,802) (23,988)  
Cash flows from investing activities:      
Purchases of property and equipment (785) (812)  
Net cash provided by (used in) investing activities (785) (812)  
Cash flows from financing activities:      
Proceeds from the issuance of common stock, net of issuance costs 0 5,746  
Proceeds from issuance of common stock in connection with the exercise of stock options 0 1,109  
Principal payments on finance leases (552) 0  
Net cash provided by (used in) financing activities (552) 6,855  
Effect of exchange rate changes on cash and cash equivalents 7 0  
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total (32,132) (17,945)  
Cash and cash equivalents—beginning of period 163,962 193,238 $ 193,238
Cash and cash equivalents—end of period 131,830 175,293 $ 163,962
Supplemental disclosures of non-cash investing and financing activities:      
Cash paid for interest 208 0  
Property and equipment purchases included in accounts payable and accrued expenses 0 662  
Right-of-use assets obtained in exchange for lease obligations 14,930 0  
Right-of-use assets obtained in exchange for operating lease obligations $ 0 $ 4,210  

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