Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)

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CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)
Common Shares
Additional Paid-in Capital
Accumulated Deficit
Total
Balance at Dec. 31, 2023       $ 247,000
Balance (in shares) at Dec. 31, 2023       38,335
Convertible Preferred Stock        
Issuance of Series B preferred stock in connection with warrant exercise, net of discounts       $ 386,000
Issuance of Series B preferred stock in connection with warrant exercise, net of discounts (in shares)       29,322
Issuance of common stock in connection with conversion of Series B preferred stock       $ (325,000)
Issuance of common stock in connection with conversion of Series B preferred stock (in shares)       (5,000)
Deemed dividend on conversion of Series B preferred for common stock and repurchase of Series B preferred stock       $ 5,842,000
Repurchase of Series B preferred stock and Series B preferred stock warrants       $ (6,266,000)
Repurchase of Series B preferred stock and Series B preferred stock warrants (in shares)       (62,657)
Balance (Accounting Standards Update 2020-06) at Mar. 31, 2024       $ 116,000
Balance at Dec. 31, 2023 $ 1,000 $ 241,884,000 $ (247,042,000) (5,157,000)
Balance (in shares) at Dec. 31, 2023 222,380      
Equity        
Stock-based compensation   380,000   380,000
Stock-based compensation (in shares) 4      
Issuance of common stock in connection with conversion of Series B preferred stock   325,000   325,000
Issuance of common stock in connection with conversion of Series B preferred stock (in shares) 8,038      
Deemed dividend on conversion of Series B preferred for common stock and repurchase of Series B preferred stock   (5,842,000)   (5,842,000)
Repurchase of Series B preferred stock and Series B preferred stock warrants   824,000   824,000
Issuance of common stock, pre-funded units and warrants, net of offering costs   4,210,000   4,210,000
Issuance of common stock, pre-funded units and warrants, net of offering costs (in shares) 1,442,518      
Issuance of common stock in connection with reverse split rounding-up for fractional shares (in shares) 84,255      
Net loss     2,707,000 2,707,000
Balance (Accounting Standards Update 2020-06) at Mar. 31, 2024   (116,000)   (116,000)
Balance at Mar. 31, 2024 $ 1,000 241,665,000 (244,335,000) (2,669,000)
Balance (in shares) at Mar. 31, 2024 1,757,195      
Balance at Dec. 31, 2023       $ 247,000
Balance (in shares) at Dec. 31, 2023       38,335
Balance at Dec. 31, 2023 $ 1,000 241,884,000 (247,042,000) $ (5,157,000)
Balance (in shares) at Dec. 31, 2023 222,380      
Equity        
Issuance of common stock to vendors       360,000
Conversion of liability warrants to equity warrants       41,851,000
Net loss       (39,958,000)
Balance at Jun. 30, 2024 $ 1,000 293,429,000 (287,000,000) 6,430,000
Balance (in shares) at Jun. 30, 2024 4,921,434      
Balance at Dec. 31, 2023       $ 247,000
Balance (in shares) at Dec. 31, 2023       38,335
Balance (in shares) at Dec. 31, 2024       38,335
Balance at Dec. 31, 2023 $ 1,000 241,884,000 (247,042,000) $ (5,157,000)
Balance (in shares) at Dec. 31, 2023 222,380      
Equity        
Issuance of common stock for the acquisition of CSI (shares)       40,000,000
Balance at Dec. 31, 2024 $ 5,000 384,172,000 (298,451,000) $ 85,726,000 [1]
Balance (in shares) at Dec. 31, 2024 52,034,060      
Balance at Mar. 31, 2024 $ 1,000 241,665,000 (244,335,000) (2,669,000)
Balance (in shares) at Mar. 31, 2024 1,757,195      
Equity        
Stock-based compensation   241,000   241,000
Stock-based compensation (in shares) 255,915      
Issuance of common stock in connection with the February Offering   8,756,000   8,756,000
Issuance of common stock in connection with the February Offering (in shares) 2,466,583      
Issuance of common stock in connection with warrant exercise $ 441,822 556,000   556,000
Issuance of common stock to vendors   360,000   360,000
Restricted stock awards cancelled (82)      
Release of vested restricted common stock 1      
Conversion of liability warrants to equity warrants   41,851,000   41,851,000
Net loss     (42,665,000) (42,665,000)
Balance at Jun. 30, 2024 $ 1,000 293,429,000 (287,000,000) 6,430,000
Balance (in shares) at Jun. 30, 2024 4,921,434      
Balance at Dec. 31, 2024 $ 5,000 384,172,000 (298,451,000) 85,726,000 [1]
Balance (in shares) at Dec. 31, 2024 52,034,060      
Equity        
Stock-based compensation   648,000   648,000
Stock-based compensation (in shares) 5,986,893      
Issuance of common stock in connection with the February Offering $ 1,000 4,859,000   4,860,000
Issuance of common stock in connection with the February Offering (in shares) 4,757,126      
Issuance of common stock in connection with warrant exercise (in shares) 3,246,111      
Conversion of liability warrants to equity warrants   15,000   15,000
Net loss     (9,563,000) (9,563,000)
Balance at Mar. 31, 2025 $ 6,000 389,694,000 (308,014,000) $ 81,686,000
Balance (in shares) at Mar. 31, 2025 66,024,190      
Balance (in shares) at Dec. 31, 2024       38,335
Balance (in shares) at Jun. 30, 2025       0
Balance at Dec. 31, 2024 $ 5,000 384,172,000 (298,451,000) $ 85,726,000 [1]
Balance (in shares) at Dec. 31, 2024 52,034,060      
Equity        
Issuance of common stock in connection with warrant exercise (in shares)       6,235,998
Net loss       $ (46,679,000)
Balance at Jun. 30, 2025 $ 7,000 419,192,000 (345,130,000) $ 74,069,000
Balance (in shares) at Jun. 30, 2025 86,661,219      
Balance (in shares) at Jun. 30, 2025       0
Balance at Mar. 31, 2025 $ 6,000 389,694,000 (308,014,000) $ 81,686,000
Balance (in shares) at Mar. 31, 2025 66,024,190      
Equity        
Stock-based compensation   1,151,000   1,151,000
Stock-based compensation (in shares) 3,701,197      
Issuance of common stock for conversions (in shares) 1,500,000      
Issuance of common stock in connection with warrant exercise (in shares) 2,989,887      
Issuance of common stock for the acquisition of CSI $ 1,000 10,282,000   10,283,000
Issuance of common stock for the acquisition of CSI (shares) 10,600,000      
Equity issuance costs   (137,000)   (137,000)
Issuance of common stock in connection with conversion of Series B preferred stock   1,545,000   1,545,000
Issuance of common stock in connection with conversion of Series B preferred stock (in shares) 1,845,945      
Adjustments to Additional Paid in Capital, Warrant Issued   16,657,000   16,657,000
Net loss     (37,116,000) (37,116,000)
Balance at Jun. 30, 2025 $ 7,000 $ 419,192,000 $ (345,130,000) $ 74,069,000
Balance (in shares) at Jun. 30, 2025 86,661,219      
[1] The condensed consolidated balance sheet as of December 31, 2024 was derived from the audited consolidated balance sheet as of that date.