Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Total net revenue $ 39,089 $ 2,674
Total cost of net revenue 8,689 2,298
Gross profit 30,400 376
Operating Expenses:    
Research and development 16,498 7,818
Sales and marketing 11,279 3,974
General and administrative 35,098 9,722
Total operating expenses 62,875 21,514
Loss from operations (32,475) (21,138)
Interest expense, net (19,982) (1,272)
Change in fair value of convertible notes (20,605)  
Change in fair value of convertible note to related party 97  
Change in fair value of warrant liability 19 (29,120)
Loss on debt extinguishment (5,804)  
Other expense, net (239) 121
Loss before provision for income taxes (78,989) (51,409)
Provision for income tax expense 5  
Net loss (78,994) (51,409)
Deemed dividend on conversion of Series B preferred for common stock and repurchase of Series B preferred stock   (5,842)
Deemed dividend on issuance of common stock and warrants issued in connection with amendments to warrants to purchase common stock   (10,475)
Net loss attributable to common stockholders $ (78,994) $ (67,726)
Net loss per common share- basic (in dollars per share) $ (0.52) $ (16.14)
Net loss per common share- diluted (in dollars per share) $ (0.52) $ (16.14)
Weighted average number of common shares used in computing net loss per common share - Basic (in shares) 152,579,525 4,197,284
Weighted average number of common shares used in computing net loss per common share - Diluted (in shares) 152,579,525 4,197,284
Patent license    
Total net revenue $ 30,000 $ 2,674
Total cost of net revenue 810  
Live events    
Total net revenue 5,906  
Total cost of net revenue 6,223  
Consumer audio products, components, and other    
Total net revenue 3,183  
Total cost of net revenue $ 1,656 $ 2,298