Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Total revenues $ 36,405,000 $ 42,750,000 $ 115,937,000 $ 137,352,000
Cost of sales        
Total cost of sales 33,244,000 40,826,000 147,171,000 130,703,000
Gross profit (loss) 3,161,000 1,924,000 (31,234,000) 6,649,000
Operating expenses        
Research and development 11,500,000 20,455,000 48,456,000 64,822,000
Sales and marketing 8,053,000 8,549,000 45,008,000 28,596,000
General and administrative 17,330,000 9,528,000 59,740,000 50,673,000
Impairment charges   6,062,000   6,062,000
Goodwill impairment   2,450,000 0 2,450,000
Total operating expenses 36,883,000 47,044,000 153,204,000 152,603,000
Loss from operations (33,722,000) (45,120,000) (184,438,000) (145,954,000)
Interest expense (1,690,000) (1,045,000) (4,871,000) (2,965,000)
Interest and other expense, net 228,000 (349,000) (1,266,000) (498,000)
Loss before income taxes (35,184,000) (46,514,000) (190,575,000) (149,417,000)
Income tax benefit (expense) (264,000) 141,000 (411,000) 675,000
Net loss $ (35,448,000) $ (46,373,000) $ (190,986,000) $ (148,742,000)
Net loss per share-basic $ (1.07) $ (1.43) $ (5.78) $ (4.63)
Net loss per share-diluted $ (1.07) $ (1.43) $ (5.78) $ (4.63)
Weighted average shares outstanding, basic 33,268,899 32,318,761 33,023,091 32,132,801
Weighted average shares outstanding, diluted 33,268,899 32,318,761 33,023,091 32,132,801
Products        
Revenues        
Total revenues $ 31,939,000 $ 37,502,000 $ 98,981,000 $ 121,597,000
Cost of sales        
Total cost of sales 29,962,000 37,175,000 136,190,000 119,290,000
Services        
Revenues        
Total revenues 4,466,000 5,248,000 16,956,000 15,755,000
Cost of sales        
Total cost of sales $ 3,282,000 $ 3,651,000 $ 10,981,000 $ 11,413,000