Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 6,022 $ 56,011
Accounts receivable, net of allowance of $2,086 and $2,028 as of September 30, 2023 and December 31, 2022, respectively 9,747 9,899
Inventories 19,214 47,066
Prepaid expenses and other current assets 4,675 9,401
Total current assets 39,658 122,377
Property and equipment, net 7,918 11,519
Operating lease right-of-use asset, net 6,718 7,735
Other assets 1,401 1,928
Total assets 55,695 143,559
Current liabilities    
Accounts payable 3,091 7,961
Accrued expenses and other current liabilities 9,875 6,270
Warrant liability 0 60
Derivative liability 355 0
Current portion of operating lease obligation 1,913 1,649
Current debt, net of debt discount 55,025 0
Total current liabilities 70,259 15,940
Long-term debt, net of debt discount 2,986 62,103
Operating lease obligation, net of current portion 6,263 7,735
Derivative liability 0 78
Earnout liability 0 2,265
Other long-term liabilities 792 880
Total liabilities 80,300 89,001
Commitments and contingencies (Note 13)
Stockholders’ (deficit) equity    
Preferred stock, par value $0.0001, 1,000,000 shares authorized and no shares issued and outstanding as of September 30, 2023 and December 31, 2022 0 0
Common stock, par value $0.0001, 250,000,000 shares authorized as of September 30, 2023 and December 31, 2022; 6,593,516 and 4,492,157 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively 1 1
Additional paid-in capital 237,343 220,951
Accumulated deficit (261,949) (166,394)
Total stockholders’ (deficit) equity (24,605) 54,558
Total liabilities and stockholders’ (deficit) equity $ 55,695 $ 143,559