Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Total net revenue $ 3,416,000 $ 629,000
Total cost of net revenue 3,305,000 560,000
Gross profit 111,000 69,000
Operating Expenses:    
Research and development 5,729,000 2,361,000
Sales and marketing 6,636,000 1,495,000
General and administrative 18,696,000 5,644,000
Total operating expenses 31,061,000 9,500,000
Income (loss) from operations (30,950,000) (9,431,000)
Interest expense, net (1,121,000) (120,000)
Change in fair value of warrant liabilities 0 17,000
Extinguishment of debt (1,725,000) 0
Impairment of investment in nonmarketable security (2,534,000) 0
Other expense, net (16,801,000) (29,000)
Loss before provision for income taxes (53,131,000) (9,563,000)
Provision for income taxes 0 0
Net loss attributable to common stockholders $ (53,131,000) $ (9,563,000)
Net loss per common share- basic (in dollars per share) $ (0.09) $ (0.18)
Net loss per common share- diluted (in dollars per share) $ (0.09) $ (0.18)
Weighted average number of common shares used in computing net loss per common share - Basic (in shares) 574,220,923 53,681,828
Weighted average number of common shares used in computing net loss per common share - Diluted (in shares) 574,220,923 53,681,828
Live events    
Total net revenue $ 2,499,000 $ 0
Total cost of net revenue 2,795,000 0
Consumer audio products, components, and other    
Total net revenue 917,000 629,000
Total cost of net revenue $ 510,000 $ 560,000